Answer: Fairness and Honesty
Explanation:
Fairness and honesty are vital to every business ethics and it related to thee general values of the decision makers. Firms are expected to follow applicable laws and regulations and are expected not to cause harm or injury to employees, customers, clients, or competitors through coercion, deception,misrepresentation, or discrimination.
False and misleading advertising can lead to business failure, hence, Truthfulness about a produt's safety and its quality are also vital to consumers.
"In a distributed system, there is a high level of cooperation and sharing of actions and data maintained by the sites when determining which process should be loaded and where it should be run; this is accomplished by ____."
Answer: Exchanging the messages between site operating systems
Explanation:
The distributed system is one of the type of computing system in which the various types of multiple elements are basically located on the machines that are specifically used for the communication purpose and this distributed system is basically appear to the user in the form of single system.
According to the given question, the given process is basically accomplished by exchanging the different types of messages between the site OS (Operating system).
In the given distributed system, the data and the cooperation action is highly maintain by the sites while determining the loaded process. Therefore, The given answer is correct.
You are considering purchasing a new truck that will cost you $34,000. The dealer offers you 1.9% APR within monthly compounding for 48 months (with payments made at the end of the month). Assuming you finance the entire $34,000 and finance through the dealer, your monthly payments will be closest to:
This is a financial mathematics question about calculating monthly payments for a car loan. With an interest rate of 1.9%, a loan amount of $34,000, and a term of 48 months, the monthly payments would be approximately $733.76.
Explanation:The subject of this question relates to financial mathematics, specifically, calculating the monthly payments for a loan. To calculate the monthly payment on a loan, one might use the loan payment formula:
P = [r*PV] / [1 - (1 + r)^-n]
Where P is the monthly payment, r is the monthly interest rate (annual rate divided by 12), PV is the present value of the loan (or loan amount), and n is the number of payments. Monthly interest rate, in this case, is 1.9%/12 = 0.00158333, and the number of payments is equal to 48. Therefore, the monthly payment on a $34,000 loan is:
P = [0.00158333 * 34000] / [1 - (1 + 0.00158333)^-48] = $733.76 approx.
So, the monthly payments for the $34,000 truck with a rate of 1.9% monthly compounded over 48 months would be approximately $733.76.
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Sales in North Corporation increased from $80,000 per year to $84,000 per year while net operating income increased from $30,000 to $36,000. Given this data, the company's degree of operating leverage must have been:
Answer:
4 times
Explanation:
Given that,
Initial sales = $80,000
New sales = $84,000
Initial net operating income = $30,000
New net operating income = $36,000
The degree of operating leverage is determined by dividing the percentage change in net operating income by the percentage change in the sales.
Percentage change in net operating income:
= [(New net operating income - Initial net operating income) ÷ Initial net operating income] × 100
= [($36,000 - $30,000) ÷ $30,000] × 100
= ($6,000 ÷ $30,000) × 100
= 0.2 × 100
= 20%
Percentage change in sales:
= [(New sales - Initial sales) ÷ Initial sales] × 100
= [($84,000 - $80,000) ÷ $80,000] × 100
= ($4,000 ÷ $80,000) × 100
= 0.05 × 100
= 5%
Degree of operating leverage:
= Percentage change in net operating income ÷ Percentage change in sales
= 20 ÷ 5
= 4 times
Mindy is always asking for the source of comments or research to back up assumptions made at team meetings. Ultimately, the team creates better solutions because of this. What role is Mindy playing as a team member?
Answer:
The correct answer is: Resource Investigator.
Explanation:
There are different roles team members fulfill such as shaper, implementer, finisher, coordinator, team worker, resource investigator, monitor-evaluator, and specialist. The resource investigator role implies requesting support for the information that is portrayed to make sure the data the team has is reliable. Resource investigators are usually good at gathering information from others.
Suppose that the financial ratios of a potential borrowing firm take the following values: Working capital/Total assets ratio (X1) = 0.75 Retained earnings/Total assets ratio (X2) = 0.10 Earnings before interest and taxes/Total assets ratio (X3) = 0.05 Market value of equity/Book value of long-term debt = .60, X5 = Sales/Total assets ratio = 0.9. Calculate the Altman’s Z-score for this firm. Round your answer to 3 decimal places.
Answer:
Z-score = 2.465
Explanation:
X1 = 0.75
X2 = 0.10
X3 = 0.05
X4 = 0.60
X5 = 0.9
Z-score is calculated using the formula;
Z-Score = 1.2X1+ 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5
Where:
X1 = Working Capital/Total Assets
X2 = Retained Earnings/Total Assets
X3 = Earnings Before Interest & Tax/Total Assets
X4= Market Value of Equity/Total Liabilities
X5 = Sales/Total Assets
Substituting into the formula, we have;
Z-Score = 1.2X1+ 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5
= 1.2*0.75+ 1.4*0.10 + 3.3*0.05 + 0.6*0.6 + 1.0*0.9
= 0.9 + 0.14 + 0.165 + 0.36 + 0.9
= 2.465
Final answer:
The Altman's Z-score for the firm, using the provided financial ratios, is calculated to be 2.465.
Explanation:
To calculate the Altman's Z-score for a firm, we use the following formula:
Z = 1.2X1 + 1.4X2 + 3.3X3 + 0.6X4 + 1.0X5
Where:
X1 = Working capital/Total assets ratio
X2 = Retained earnings/Total assets ratio
X3 = Earnings before interest and taxes/Total assets ratio
X4 = Market value of equity/Book value of long-term debt ratio
X5 = Sales/Total assets ratio
Using the provided financial ratios:
X1 = 0.75
X2 = 0.10
X3 = 0.05
X4 = 0.60
X5 = 0.90
Plugging these into our formula:
Z = 1.2(0.75) + 1.4(0.10) + 3.3(0.05) + 0.6(0.60) + 1.0(0.90)
Z = 0.9 + 0.14 + 0.165 + 0.36 + 0.9
Z = 2.465
Therefore, the Altman's Z-score for the firm is 2.465, rounded to three decimal places.
Riley says that the present value of $700 one year from today if the interest rate is 6 percent isless than the present value of $700 two years from today if the interest rate is 3 percent. Anh saysthat $700 saved for one year at 6 percent interest has a smaller future value than $700 saved fortwo years at 3 percent interest.a. Both Riley and Anh are correct.b. Both Riley and Anh are incorrect.c. Only Riley is correct.d. Only Anh is correct.
Answer:
A) Both Riley and Anh are correct.
Explanation:
to see who is right we can calculate:
PV = FV / (1 + r)ⁿ
FV = PV x (1 + r)ⁿ
Riley's statement:
PV = $700 / (1 + 6%) = $660.38
PV = $700 / (1 + 3%)² = $659.82
Riley is right
Anh's statement:
FV = $700 x (1 + 6%) = $742
FV = $700 x (1 + 3%)² = $742.63
Anh is right
They are both right due to compound interest, since compound interest means that the interest earned will also earn more interest.
When Galaxy Ventures, a real estate company, entered the low cost housing business, the market was already saturated with other players. Thus, the company was forced to exit the market due to lack of customer loyalty and substantial dividends. Which of the following is a term used to described the situation faced by the company?a. first-mover disadvantages
b. last-mover disadvantages
c. last-in first-out disadvantages
d. comparative disadvantages
e. absolute disadvantages
Answer:
b. last-mover disadvantages
Explanation:
Last-mover or late-mover disadvantages describes the situation faced by Galaxy Ventures, a real estate company, that entered the low cost housing business when the market was already saturated with other players.
Thus, forcing Galaxy Ventures to exit the market due to lack of customer loyalty and substantial dividends.
Framex Inc. has separate computer-accessible storage media for all of its departments. These storage media store files of related data organized according to a logical system. In this scenario, Framex has many different _____ for its various departments.
A. decision support systemsB. databasesC. cybermediariesD. business intelligence systems
Answer:
B. databases
Explanation:
Since, Framex Inc. has separate computer-accessible storage media for all of its departments that store files of related data organized according to a logical system.
In this scenario, Framex has many different databases for its various departments.
Database is a structured set of information or data usually stored in a computer, especially for rapid access, search and retrieval.
Suppose MR = MC = $3 at an output level of 2,000 units.
If a monopolist produces and sells 2,000 units, charging a price of $6 per unit and incurring average total cost of $4 per unit, the monopolist will earn profit equal to _______.
Answer:
Profit = $4000
Explanation:
Fo a monopoly, the total profit is maximized where the marginal revenue is equal to the marginal cost
The profit is equal to the amount by which the revenue is exceed the cost .
Profit = Total revenue - total cost
Profit = (2000× $6) - (2000× $4)
Profit = $4,000
Answer:
profit = TR-TC
Explanation:
Profit = 2000*6-2000*4 = 4000
Since lower-income people spend a larger proportion of their incomes on groceries than do higher-income people, if grocery stores were required by law to charge a 10-cent fee for disposable bags, this fee could be considered a Select one: a. progressive tax. b. proportional tax. c. income tax. d. regressive tax.
Answer:
d. regressive tax.
Explanation:
Because as we can see on the given statements that lower income people come to buy grocery than the higher income people, so the 10-cent fee for disposable bags will come under regressive tax, as we know that regressive tax is a tax in which is taken or collected largely from the lower income people than the higher income people.
So, the correct option will be OPTION (d).
ZumbaUp, a leading jeans brand, realized that a user named PoisonX had breached its security codes and gained unwarranted access to the company's highly classified information. The company was shocked to see all of its business tactics and prospective deals put up online, exposed to everyone. In this scenario, ZumbaUp is a victim of
Answer:
Hacking
Explanation:
Hacking can be defined as the breaching or the securities or taking advantage of the weaknesses of a computer system or network.
hacking is carried out by a hacker and there are different types or grades of hackers depending on how good they are, their reason for being an hacker, among other things.
In the case of ZumbaUp, the securities of the companies databases was breached and published for all to see by PoisonX.
Cheers.
Stacy, who is married and sole shareholder of ABC Corporation, sold all of her stock in the corporation for $100,000. Stacy had organized the corporation in 2009 by contributing $225,000 and receiving all of the capital stock of the corporation. ABC Corporation is a domestic corporation engaged in the manufacturing of ski boots. The stock in ABC Corporation qualified as Sec. 1244 stock. The sale results in a(n):
Answer:
The sale results in an ordinary loss of $100,000 and long-term capital loss of $25,000.
Explanation:
Stacy, who is married and sole shareholder of ABC Corporation, sold all of her stock in the corporation for $100,000. Stacy had organized the corporation in 2009 by contributing $225,000 and receiving all of the capital stock of the corporation. ABC Corporation is a domestic corporation engaged in the manufacturing of ski boots. The stock in ABC Corporation qualified as Sec. 1244 stock. The sale results in AN ORDINARY LOSS OF $100,000 AND LONG-TERM CAPITAL LOSS OF $25,000.
Answer:
ordinary loss of $100,000 and long-term capital loss of $25,000
Explanation:
Up to $100,000 on a joint return of loss realized on disposition of Section 1244 stock is treated as an ordinary loss. So the first $100,000 would be ordinary and the remaining $25,000 would be a LTCL.
Environmentalists have continually argued for the use of alternatives to fossil fuels to generate energy. Harnessing wind power by setting up wind farms had been one alternative proposed and implemented. As it is now known that these wind farms lead to the slicing and dicing of migratory birds and the decimation of the local bat population, we could say that environmentalists have committed the: _________
Answer:
Mistake of ignoring secondary effects
Explanation:
Whenever there arises an adverse impact of a policy and it's implementation, owing to ignorance of secondary consequences, it is termed as ignoring secondary effects.
In short, it refers to assessing and viewing only the positive aspects of a policy or a move, meanwhile not taking into consideration the other adverse consequences which are also associated with the same policy.
In the given case, the environmentalists have only considered the generation of alternative sources of energy via windmills which will lead to preservation of fossil fuels. The proposed policy has been implemented without taking into account it's flip side i.e the harm it causes to bat population and migratory birds.
Thus, it can be stated that the environmentalists herein only considered the favorable outcome of a policy implementation and ignored the adverse effect of the same. Hence, they are said to have committed the mistake of ignoring the secondary effects.
Becky graduated with a master degree in Personal Financial Planning. After working two years in a small financial planning firm, Becky earns $60,000 annually and saves $10,000 a year. What is her average propensity to consume?a. 16.7%b. 25.5%c. 75.7%d. 83.3%e. 95.5%
Answer:
Option D.
Explanation:
The average propensity to consume (APC) refers to the ratio of consumption expenditures (C) to disposable income (DI):
APC = C / DI.
From the question, we are given:
Total income = $60,000
Savings = $10,000
Therefore:
Consumption expenditures (C) = 60,000 - 10,000 = $50,000
APC = 50,000 / 60,000
APC = 0.833 or 83.3%
Ridgewood Company has 25,000 shares of cumulative 2% preferred stock, $50 par and 150,000 shares of $25 par common stock. During the current year, $62,500 was distributed as dividends. Determine the numerator in the dividend yield calculation. a.$0.25
Answer:
$0.25
Explanation:
25,000 shares x 2% x $50 preferred stocks = $25,000
150,000 x $25 common stocks
$62,500 - $25,000 = $37,500
$37,500 / 150,000 shares = $0.25 per share
dividend yield = $0.25 / $25 = 1%
Dividend yield measures the amount of money paid to stockholders based on the cash dividends per share divided by share price.
Final answer:
The numerator for the preferred stock is the fixed amount of preferred dividends is $25,000 and the dividend yield is 1%
Explanation:
The Ridgewood Company scenario involves calculating the numerator in the dividend yield calculation. Since Ridgewood Company has cumulative preferred stock, these dividends must be paid before any dividends are paid to common stockholders. With 25,000 shares of 2% cumulative preferred stock at a $50 par value, the annual preferred dividend is $50 * 0.02 * 25,000 = $25,000.
Thus,
= 150,000 x $25 common stocks
= $62,500 - $25,000 = $37,500
= $37,500 / 150,000 shares = $0.25 per share
Dividend yield = $0.25 / $25
= 1%
Roadbuilders, Inc, uses dynamite in its operations. Sky-Hi Fireworx, Inc, stores explosives in its warehouses. Most likely liable under the doctrine of strict liability for any injury caused by an abnormally dangerous activ¬ity will be:_________.
a. None of the choices.
b. Roadbuilders and Sky-Hi.
c. Roadbuilders only.
d. Sky-Hi only.
Answer:
The answer here would be option b. or Roadbuilders and Sky-Hi.Explanation:
In this case, Roadbuilders uses the dynamite in any operational activity/s it conducts and the Sky-Hi Firefox Inc, is responsible for storing and maintaining the explosives in the warehouse.Hence,based on the strict liability doctrine, all the concerned parties engaged in construction,hazardous manufacturing or any such harmful and life threatening commercial activities have to assume equal and undivided responsibility in preventing any potential physical injury,death or any kind of damages to any individual or party concerned.Therefore,in this case,assuming that both the parties or companies are involved in the dangerous activity mentioned, both of them will be legally liable to prevent any kind of physical injury or bodily damage or serious casualty to anyone due to their operational activity/s.Answer:
b. Roadbuilders and Sky-Hi.
Explanation:
Strict liability is a legal doctrine that imposes the legal liability for damages or injuries caused even if the person liable did not act with fault or negligence or without finding any fault. It only required to prove that the tort occurred and the individual is responsible. This doctrine applies only on three types of situations:
Manufacturing defect.Animal bites.Abnormally dangerous activities.In the given case, Both Roadbuilders and Sky-Hi are responsible for injury caused by an abnormally dangerous activity as they both involved in storing and using the explosive.
In an exclusive agency listing:a.seller can avoid paying a commission b.if they find the buyer the seller can employ more than one agent c.a seller must pay a commission d.if they find the buyer no commission is allowed
Answer:
d. If they find the buyer, no comission is allowed
Explanation:
Exclusive agency listing is a contractual agreement wherby the seller grant the right to an estate agent or a firm to sell a property on its behalf through payment of commission and the seller can avoid paying commission if the buyer is found by the seller. It is one of the listing agreements. Others are open listing and exclusive right to sell listing.
Exclusive agency listing are not favourable to estate agent or brokerage firm in that the agreement gives a seller right to find or locate a buyer by itself in order to avoid paying commission.
Chaz loves to play a Disney online pirate game in which he gets to create a pirate by choosing hair color, skin color, clothing, and physical features. Then he gets to choose from a variety of quests and can sail a ship, dig for treasure, fight skeleton pirates, or fight the British Navy. This game provides what element of value?a. Co-creationb. Earning of trustc. Offering products that performd. Avoiding unrealistic pricinge. Giving facts
Margaret and Jack are working on a high-priority project with a tight deadline. When Margaret is unable to meet the deadline, Jack attributes it to her clumsiness. However, when he is unable to meet the same deadline, he blames it on poor planning by his manager. This scenario exemplifies __________.
A. an informational social influence.B. the fundamental attribution error.C. conformity.D. groupthink.
Answer:
B, Fundamental attribution error.
Explanation:
Fundamental attribution error is a psychological situation in which individuals have the tendency to explain a person's behavior based on disposition/personality but not lay emphasis on the external behaviors that affect the person's behavior.
In the above question, because Jack and Margaret couldn't finish Margaret's jobs due to Margarette her clumsiness and went on to blame the supervisor as the cause of the tem not being able to finish the task .
Cheers.
Plz cash app me plz plz plz plz
Answer:
no
Explanation:
no no no no no no no no no
Answer:
sorry i would if i had money i am broke
Explanation:
The equilibrium price of a guidebook is $35 in the perfectly competitive guidebook industry. Our firm produces 10,000 guidebooks for an average total cost of $38, marginal cost of $30, and average variable cost of $30. Our firm should:a) raise the price of guidebooks, because the firm is losing money.b) keep output the same, because the firm is producing at minimum average variable cost.c) shut down, because the firm is losing money.d) produce more guidebooks, because the next guidebook produced increases profit by $5.
Answer:
d) produce more guidebooks, because the next guidebook produced increases profit by $5.
Explanation:
A perfectly competitive industry is characterised by many buyers and sellers of homogenous goods and services. There are no barriers to entry or exit of firms. In the long run, firms earn zero economic profit.
Profit is maximised where marginal revenue/ price is equal to marginal cost.
In this question, marginal revenue ($35) is greater than marginal cost ($30), so, the firm isn't maximising profit and they should increase production.
A firm should shutdown when average variable cost is greater than price.
I hope my answer helps you
How can expansionary expenditure-based fiscal policy lead to crowding out in the economy? A. Expenditure-based fiscal policy increases the national debt, inducing forward-looking households and firms to reduce expenditures in anticipation of having to pay higher future taxes. B. Expenditure-based fiscal policy requires the collection of additional taxes, which reduce household incomes and expenditures. C. Expenditure-based fiscal policy leads to more government borrowing, absorbing funds that would have otherwise been borrowed and expended by the private sector. D. Expenditure-based fiscal policy raises inflation expectations and interest rates, causing private sector expenditures to fall.
Answer:
The answer in this case, would be option C. or Expenditure-based fiscal policy leads to more government borrowing, absorbing funds that would have otherwise been borrowed and expended by the private sector.Explanation:
In Macroeconomics, expansionary is a phenomenon which refers to increased government or public spending or expenditure in the economy.Now,crowding out effect can occur in the economy when the government attempts to liquidate or finace the increased expenditure through financial borrowing to such an extent that it leads to crowding out or shortage of most of funds to be expended by the private sector in the economy.This can essentially lead to shortage of funds which could have been borrowed by private businesses, companies and investors to raise private business and capital expenditure.In his report, Wade described the strengths and weaknesses of each of his subordinates. He made a note of their past performances and the potential they displayed. He even provided suggestions for their improvements. Wade is using the ________ method of conducting a performance appraisal.
Answer:
Written essay
Explanation:
Written essay method is an approach of performance appraisal, where appraiser prepare a written statement about the strength and weekness of employee to appraise their performance, these strength and weekness are evaluated on the basis of past performance at the employment. It also suggest solution for performance improvement. It is one of the effective method of performance appraisal, however, it is time consuming.
In the given case, Wade have described strength and weekness of each subordinates and also suggested technique to improve performance, therefore, wade is using Written essay method of performance appraisal.
The united states has the number one gross domestic product (gdp). but countries like iceland, norway, and 10 other industrialized nations rank higher on the human development index (hdi). why is that? check all that apply.
Answer:
The reason is that aside the gdp the human development index is calculated based on three factors namely
1. life expectancy
2. Education
3. per capita income
And these countries are doing perfectly well as compared to the USA based on the above
Explanation:
What is the human development index (HDI)?
The Human Development Index (HDI) is a statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.
A country scores a higher HDI when the lifespan is higher, the education level is higher, and the gross national income GNI (PPP) per capita is higher.
Answer:
Iceland and Norway put more value on HDI factors.
Resources for any country are finite and there is a balance between GPD and HDI.
Iceland and Norway are not as focused on business as the United States.
The United States places more value on work and business than on HDI factors.
Explanation:
In order to develop the best customer base it can, Harrison's Gourmet Foods sends out different types of promotional items to see which one garners the best response in terms of customers who will buy once and come back to order again. The information Harrison's receives provides the basis for _____ modeling.
Answer:
The correct word for the blank space is: predictive.
Explanation:
Predictive modeling, also called predictive analytics, uses data gathered in research and graphics in an attempt to predict events of different types from sports to company earnings. Predictive modeling uses Information Technology (IT) to collect large amounts of data to have the most accurate information in the study that would allow individuals to find out what could happen in the future. Predictive modeling is based on repetitive inputs that could give us an idea that patterns are formed now and then predictably.
The data collected from the different promotional items would be used in predictive modeling. This data mining technique uses past data to predict future customer behavior and can help Harrison's Gourmet Foods develop the best customer base by informing their marketing strategies.
Explanation:In the context of the question, the information Harrison's Gourmet Foods collects from the response of the promotional items forms the basis for predictive modeling. Predictive modeling is a process used in data mining to forecast future outcomes based on historical data.
It looks at patterns and trends in the data to predict future events. In Harrison’s case, they can use predictive modeling to identify which promotional items are more likely to influence customers to buy again, and then adjust marketing strategies accordingly. The goal ultimately being to develop the best customer base.
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What can cause the supply curve for an inferior good to shift to the right?
Answer:
A decrease in consumer income
Explanation:
Before we move on to answer the question directly, we need to understand what a supply curve is and what are inferior good is.
A supply curve is a graphical representation which is plot of a change in price to a change in quantity supplied, obeying the dictates of the law of supply. The law of supply simply states that the higher the price, the higher the quantity supplied. Thus, it is expected that at higher prices, the quantity supplied should also be higher in order for profit maximization.
So how does a supply curve looks like? A supply curves generally moves upward from left to right, this in confirmation to the law.
What do we mean by an inferior good? An inferior good is one which does not obey the laws of demand and supply. A consumer good demand decreases in the face of rising income. This is in contrast to a normal good which is supposed to have an increase in demand with a rise in income.
Now, what can make an inferior good supply curve shift to the right i.e have more positive income elasticity?
What can cause this is no other factor than a decrease in income. When there is a decrease in consumer income, consumers would be willing to spend less on more expensive substitutes and thus turn over to their inferior goods counterparts. This make their demand go up, driving up the price and making the supply increase.
This singular activity will shift the supply curve of inferior goods to the right.
A corporation sold 1,000 shares of its $2.00 par value common stock for $10.00 per share and later repurchased 100 of those shares for $12.00 per share. Which of the following will be debited to record the repurchase of the 100 shares?A.Common Stock for $1,200B.Treasury Stock for $1,200C.Treasury Stock for $200D.Cash for $1,200
Answer:
Option B. Treasury Stock for $1,200
Explanation:
The reason is that when 1,000 shares which has $2 par value and were issued at $10 per share, the journal entry was:
Dr Cash Account $10,000
Cr Common Stock $2,000
Cr Paid In Capital $8,000
But when 100 shares were repurchased at $12 per share, then the accounting treatment would be
Dr Treasury Stock $1,200
Cr Cash Account $1,200
So the correct option is option B.
At the end of the current year, the accountant for Computer Graphics, Inc. forgot to make an adjusting entry to accrue Wages Payable for the company's employees for the last week in December. The wages will be paid to the employees in January. Which of the following is an effect of this error? a) Net income is overstated.b) Liabilities are overstated.c)Net income is understated.d) Expenses are overstated
Answer:
a) Net income is overstated
Explanation:
As we already know that
To record the accrued wages, the journal entry is
Wages expense XXXXX
To wages payable XXXXX
(Being the wages expense is recorded)
This entry indicates the increases in expenses and decrease in net income but if this entry is not made or forgot to make than the condition would be reverse i.e expenses understated and net income overstated. On the other side, the liabilities are overstated i.e liabilities understated in case the entry is not made
67 people of 350 surveyed gave your company five stars. Of men, 40 out of 175 gave your company five stars. Was your company rated 5 stars more commonly among the general population or among men?
Answer:
The company was rated 5 stars more by Men
Explanation:
Given that
General population = 67/350
Men = 40/175
In checking the percentage ratio, we have
a. General population
= (67/350) × 100
= 19.14%
b. Men population
= (40/175) × 100
= 22.85%
Thus, seeing that 22.85% > 19.14%, therefore, company was rated 5 stars more among the men population.
Lewis Company traded machinery with a book value of $950,000 and a fair value of $900,000. It received in exchange from Timmons Company a machine with a fair value of $1,000,000. Lewis also paid cash of $100,000 in the exchange. Timmons s machine has a book value of $950,000. What amount of gain or loss should Lewis recognize on the exchange (assuming lack of commercial substance)
Answer:
Lewis should recognize a gain on the exchane of $13,636
Explanation:
In order to calculate the amount of gain or loss should Lewis recognize on the exchange, first we have to determine the amount of gain with the followig formula:
Gain=Total value of the machine received-Book value of machine exchanged
=(cash received+fair value of machine received)- $950,000
=($100,000+$1,000,000)-$950,000
=$ 150,000
Next, In order to calculate the amount of gain or loss should Lewis recognize on the exchange we have to use the following formula:
recognize gain or loss=( cash received )× gain
cash received+fair value of equipment received
= ( $ 100,000 )× 150,000
$100,000+$1,000,000
=$13,636
Lewis should recognize a gain on the exchane of $13,636