Answer:
Position 02.
Explanation:
Each of the 04 teams have 12 games, hence a pair from one team plays the other four times. There are six possibilities of forming a pair in all the four teams, so in all 6x4=24 games were played among the teams. This also means that there is a possibility of 24 wins and 24 losses in all the four teams.
First team= 7 W and 5 L
Second team = 8 W and 4 L
Worst team = 12 games = W + L ( From twice as many losses as wins we know 2W = L )
12 = W + 2W
12 = 3W
W = 4 and L = 8
For last team:
W = 24
W = 7 W + 8 W + 4 W + X = 24
19 W + X = 24 W
X = 5 W
Hence Billy's team is second
Which of the following would not be studied in macroeconomics? Select one:
a. The causes of the Great Depression.
b. The growth rate of the U.S. economy.
c. History of gasoline prices
d. The impact of government spending on the economy.
Answer: Option C
Explanation: The branch of economics that studies the economy as whole is called macroeconomics. The subject matter of economics tries to understand and inter-relate factors such as inflation, interest rates, unemployment etc, as these factors impact the overall economy and not just a small portion of it.
Hence from the above, we can conclude that history of gasoline prices is not related to macroeconomics as it is only related to the petroleum industry.
The topic that would not be studied in macroeconomics is the history of gasoline prices.
What is macroeconomics?
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors.
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Abbie Marson is the sole owner and operator of Great Plains Company. As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of $908,100 and liabilities of $267,845. During Year 2, Marson invested an additional $28,658 and withdrew $25,871 from the business. What is the amount of net income during Year 2, assuming that as of December 31, Year 2, assets were $980,279 and liabilities were $233,892?
a. $33,953.
b. $103,345.
c. $25,871.
d. $72,179.
Answer:
b. $103,345
Explanation:
Assets = Liabilities + Owner's Equity
Owner's Equity (Year 1) = $908,100 - $267,845
= $640,255
Owner's Equity (Year 2) = $980,279 - $233,892
= $746,387
increase in Owner's Equity = Owner's Equity (Year 2) - Owner's Equity (Year 1)
= $746,387 - $640,255
= $106,132
Net income during Year 2 = Increase in Owner's Equity - Additional investment + Withdrawals
= $106,132 - $28,658 + $25,871
= $103,345
Therefore, the amount of net income during Year 2 is $103.345.
Karen and Jay need a larger home. They have two large dogs and a baby on the way. One day in the real estate section, they see their dream home. The couple view the home that very day, make an offer and it's accepted. There's only one problem: They haven't even put their home on the market. Which type of loan gives Karen and Jay their best option of paying two mortgages until their current home sells?
a. A Participation Mortgageb. A Bridge Loanc. A Sale-Leasebackd. A Contract for Deed
Answer:
b. A Bridge Loan
Explanation:
A bridge loan is a form of financing for a short period of time with high interest rates until the person can find another type of loan or eliminate a debt like selling the current home.
At the end of a recent year, Jefferson Cleaning Service, a full-service house and office cleaning service, had total assets of $ 6 comma 280 and equity of $ 3 comma 380. How much were Jefferson Cleaning Service's liabilities?
Answer:
Jefferson Cleaning Service's liabilities: 2,900
Explanation:
Accounting Equation Formula
Assets = Liabilities + Owner's Equity
Asset – Owner's Equity = Liabilities
In Jefferson Cleaning Service`s case:
Liabilities = 6,280 – 3,380
Liabilities = 2,900
Final answer:
Jefferson Cleaning Service's liabilities add up to $2,900, calculated by subtracting equity from the total assets, using the accounting equation Liabilities = Assets - Equity.
Explanation:
To determine the amount of Jefferson Cleaning Service's liabilities, we use the basic accounting equation:
Assets = Liabilities + Equity
Given that the total assets are $6,280 and the equity is $3,380, we can find the liabilities by rearranging the equation:
Liabilities = Assets - Equity
So, the liabilities of Jefferson Cleaning Service are calculated as follows:
Liabilities = $6,280 - $3,380
Liabilities = $2,900
Therefore, Jefferson Cleaning Service's liabilities amount to $2,900.
What term refers to a set of approaches and techniques a firm employs to efficiently integrate suppliers, manufacturers, warehouses, stores, and other firms involved in the transaction?
Answer:
Supply Chain Management
Explanation:
Supply chain management is the backbone of any organisation. It connects all the sectors of a firm into one chain that is the manufacturers, stores, warehouse, suppliers, wholesalers and retailers. It is the process of movement of services and goods or raw material and involves all the process to transform the raw material into the final product.
Which of the following makes it absolutely essential that nonprofit organizations engage in marketing efforts?
a. Funding from the government is directed toward nonprofit organizations like hospitals.
b. Successful marketing helps attract membership and much-needed funds.
c. Nonprofit organizations are among the major contributors to the U.S. economy.
d. Nonprofit organizations, like for-profit organizations, lay off people during recessions.
e. Churches, zoos, and universities attract the most funding in the United States.
Answer:
Which of the following makes it absolutely essential that nonprofit organizations engage in marketing efforts?
b. Successful marketing helps attract membership and much-needed funds.
Explanation:
Nonprofit marketing is the use of marketing tactics by a nonprofit organization, that promotes the message and the organization. Marketing is particularly important for a nonprofit organization, as they usually need ways to market their cause to volunteers who would want to help and to donors that will give to their cause.
You have just determined the actual number of workstations that will be used on an assembly line to be 8 using the assembly-line balancing procedure. The cycle time of the line is 10 minutes, and the sum of all that tasks required on the line is 60 minutes. Which of the following is the correct value for the resulting line's efficiency? A. 0.500B. 0.650C.0.750D. 0.850E. None of these
Answer:
Efficiency will be 0.75 so option (c) will be correct option
Explanation:
We have given Total time for all task = 60 minutes
Actual Number of workstations = 8
Cycle time = 10 minutes
Efficiency is given by
[tex]Efficiency(\eta ) =\frac{total\ time\ for\ all\ task}{number\ of\ work\ station\times cycles\ time}=\frac{60}{8\times 10}=0.75[/tex]
So option (c) will be the correct option
Alpha can produce either 18 oranges or 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour. If the terms of trade are established as 1 apple for 2 oranges, then:
a) there are no incentives for Alpha to specialize and trade with Beta.
b) it is in the interest of both countries to specialize and trade with one another.
c) it is in the interest of Beta to grow oranges and trade for apples.
d) there are no incentives for Beta to engage in international specialization and trade of apples and oranges.
Answer:
The answer is: C) it is in the interest of Beta to grow oranges and trade for apples.
Explanation:
Since an apple trades for 2 oranges, we can assign them the following value:
Each apple costs $2Each orange costs $1If Beta wants to maximize its sales then it can produce 16 oranges which it can trade for 8 apples. Then they can sell the apples for a total of $16.
Instead if they focus only on producing 4 apples per hour, their total sale would be $8.
For Alpha this equation is irrelevant since whatever product they produce their total sales would be $16.
Alpha has comparative advantage in oranges, Beta has comparative advantage in apples, both countries should specialize and trade based on their comparative advantages.
Explanation:The terms of trade between Alpha and Beta are established as 1 apple for 2 oranges. Comparing the opportunity costs, we find that Alpha has a comparative advantage in producing oranges, as they can produce 18 oranges per hour compared to Beta's 16 oranges. Beta, on the other hand, has a comparative advantage in producing apples, being able to produce 4 apples per hour compared to Alpha's 9 apples.
Given the terms of trade, Alpha can trade 2 oranges for 1 apple and still be better off than producing apples themselves, while Beta can trade 1 apple for 2 oranges and be better off than producing oranges themselves. This creates an incentive for both countries to specialize in their respective comparative advantages and trade with each other.
Therefore, the correct answer is b) it is in the interest of both countries to specialize and trade with one another.
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Sheila and Vickie are sisters who enter into a contract to buy a vacation property. The sisters get into a dispute, and Vickie no longer wants any part of the deal. However, Sheila talks her younger brother Joe into replacing Vickie on the contract. Vickie agrees to the substitution. This is an example of _____________.
Answer:
The correct answer is Novation.
Explanation:
Innovation represents all those transformations that introduce originality and novelty, usually develop more frequently in the economic context, especially when companies implement new products or services that become successful within the market, prevailing in it through advertising.
Innovation is a technique that can solve problems or shortcomings, which can be done through improvement and not just the creation of something new.
Sue has 5,000 shares of Sony stock that have an adjusted basis of $27,500. She sold the 5,000 shares of stock for cash of $10,000, and she also received a piece of land as part of the proceeds. The land was valued at $20,000 and had an adjusted basis to the buyer of $12,000.What is Sue's gain or loss on the sale of 5,000 shares of Sony stock?
Answer:
Sue gained $ 2500 on the sales of 5000 shares of sony stock.
Explanation:
amount on sales of shares = $ 10000 + $ 20000
= $ 30000
amount adjusted basis on shares = $ 27500
gain or loss on the sales of shares = amount on sales of shares - amound adjusted basis on shares
= $ 30000 - $ 27500
= $ 2500
Therefore, Sue gained $ 2500 on the sales of 5000 shares of sony stock.
Sue made a gain of $2,500 on the sale of her Sony stock, after considering both the cash and the land she received in the transaction.
Explanation:To calculate Sue's gain or loss on the sale of her Sony stock, we need to subtract the adjusted basis from the total proceeds of the sale. The total proceeds include both cash received and the value of the land received.
The total proceeds sum up to $30,000 ($10,000 cash + $20,000 worth of land). Subtracting the adjusted basis of $27,500 from the total proceeds results in a gain of $2,500. This means that Sue made a $2,500 profit on the sale of her stock.
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Natalie operates on a pretty tight budget. She is a price-conscious shopper and usually buys store or generic brands to save money. Recently, however, Natalie was given a pretty substantial raise. As such, she has altered her shopping patterns and now regularly buys more expensive, name-brand goods. This is an example of
a. the income effect.
b. horizontal price fixing.
c. the discounts are available to all customers.
Answer: The income effect
Explanation: The income effect refers to the effect on the purchasing power of the consumer when his or her income level changes.
In the given case, Natalie was price conscious and used to buy lower priced goods with the objective of saving money. When her income rises she starts buying expensive goods as her purchasing power increases with increase in income.
Hence from the above we can conclude that the correct option is A.
Jill is looking into the possibility of opening up a day care center in her community, because she is aware of many single-parent families that need a place for their children to stay while the parents work. She is concerned about the long term prospects for such a business. Jill believes the future of her center will depend on whether birth rates and the number of single-parent families remain high. These concerns illustrate how businesses can be affected by...-economic trends-demographic trends-holographic trends-psychometric trends
Answer: Demographic trends
Explanation: Demographic trends refers to the scope of change in the characteristics of the population such as sex ratio, age group etc.
In the given case, Jill is concerned if the demography in his target market would change into more of young people and joint family structure. Such a change would be not good for his business as the number of his potential clients will decrease.
Thus, from the above we can conclude that the given case illustrates the effect of demographic trends on the business.
Since the creation of the Hershey candy bar over 100 years ago, the price of chocolate has fluctuated, but the price of the candy bar has slowly risen. In fact, when the price of chocolate had dramatic price fluctuations over a three-year period, the price of a Hershey's candy bar remained the same. When the price of chocolate was very high, Hershey's was able to maintain its profits by making the bars smaller. Hershey's engaged in:A) top-down marketing.B) trading up.C) bottom-up marketing.D) game-playing.E) downsizing.
Answer:
C) bottom-up marketing
Explanation:
According to my research on the different business strategies, I can say that based on the information provided within the question Hershey is engaging in bottom-up marketing. This can be said because this marketing approach focuses on finding a workable tactic and then building on the tactic to create a powerful strategy. In this situation it seems that Hershey's tactic for the dealing with the fluctuation in price of chocolate, which is by adjusting the size of the chocolate bars instead of it's price.
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When a parent uses the partial equity method throughout the year to account for its 80% investment in an acquired subsidiary, which of the following statements is true at the date immediately preceding the date on which adjustments are made on the consolidated worksheet?
A) Parent company net income equals consolidated net income.B) Parent company retained earnings equals consolidated retained earnings.C) Parent company total assets equals consolidated total assets.D) Parent company dividends equal consolidated dividends.E) Goodwill is recorded on the parent's books.
Answer:
The correct answer is D) Parent company dividends equal consolidated dividends.
Explanation:
When economic, financial and administrative links are created between two legally independent entities, where it presents a subordination relationship, a series of reports that integrate the financial statements must be prepared, consolidating those of one company with the other.
The consolidation of the balances between a parent and a subsidiary is achieved by integrating the accounts of each of them, eliminating accounts such as:
The investment of the parent company in the subordinate. Accounts receivable generated by transactions between the parent and the subsidiary. Accounts payable generated by transactions between the parent and the subsidiary. Sales and purchases between companies. Dividends between the two companies. Earnings between entities in the initial or final inventory.A U.S.-based multinational has its operations in a developing country. Owing to the election of a president with conservative trade policies in the host country, operations have been brought to a standstill. This scenario illustrates?
Sara believes that she has a strong case against Tom for the breach of an employment contract. Despite this belief, Sara cannot file a suit against Tom after the expiration of the time allowed for the filing undera) the statute of limitations.b) the doctrine of laches.c) an equitable maxim.d) the remedy at law.
Answer:
The correct answer is a) The statue of limitations.
Explanation:
The statue of limitations is a law that sets a time limit to pursue legal action against an alleged offense. After that period of time is up, it is no longer possible to initiate a claim, regardless of its underlying merits. This time limit varies depending many factors, e.g. the severity of the crime, the amount of time evidence can last and the jurisdiction of the crime. In the case of serious crimes, for instance, genocide and murder, there is no statue of limitations and legal claims can be filed at any time.
During 2015, Blevert Co. introduced a new line of machines that carry a three-year warranty against manufacturer's defects. Based on industry experience, warranty costs are estimated at 1% of sales in the year of sale, 3% in the year after sale, and 5% in the second year after sale. Sales and actual warranty expenditures for the first three-year period were as follows:
Sales Actual Warranty Expenditures
2015 $500,000 $6,000
2016 1,500,000 25,000
2017 2,000,000 105,000
$4,000,000 $136,000
What amount should Blevert report as a liability at December 31, 2017?
Final answer:
To determine Blevert Co.'s warranty liability for 2017, we calculate the estimated expenditures based on sales data and subtract the actual warranty expenses. The calculation shows that Blevert Co. has spent more on warranty claims than the amount they estimated, resulting in no warranty liability that needs to be reported at the end of 2017.
Explanation:
To compute the warranty liability that Blevert Co. should report at December 31, 2017, we need to calculate the expected warranty expenditures based on the given percentages and sales data, and then subtract the actual warranty expenditures to determine the remaining liability. Here's a breakdown of the estimated warranty costs based on sales:
For 2015 sales ($500,000): 1% in 2015, 3% in 2016, and 5% in 2017. Total estimated = 1% + 3% + 5% = 9% of $500,000 = $45,000.
For 2016 sales ($1,500,000): 1% in 2016 and 3% in 2017. Total estimated = 1% + 3% = 4% of $1,500,000 = $60,000.
For 2017 sales ($2,000,000): 1% in 2017. Total estimated = 1% of $2,000,000 = $20,000.
Now sum these up for the total estimated warranty costs: $45,000 (2015) + $60,000 (2016) + $20,000 (2017) = $125,000. From this, we then subtract the total actual warranty expenditures up to the end of 2017: $6,000 (2015) + $25,000 (2016) + $105,000 (2017) = $136,000. Thus, the estimated warranty liability at the end of 2017 is negative, indicating that Blevert Co. has spent more on warranties than they initially estimated.
However, companies cannot report a negative warranty liability. In this situation, Blevert Co. would report a warranty liability of $0 on their balance sheet at December 31, 2017, because the actual expenses exceeded the estimated expenses.
Which of the following events is not recorded in the accounting records? Entry field with incorrect answer now contains modified data Equipment is purchased on account. A cash investment is made into the business. The declaration of cash dividends. An employee is terminated.
Answer:
An employee is terminated.
Explanation:
All the transactions, in a company or organisation are recorded in financial statements of the company.
For this each transaction having some numerical value, that has a monetary effect on the organisation is identified.
In the given case,
purchase of equipment will involve direct monetary effect as cash will be paid, asset will be increased, etc:cash investment made, will again require cash outflow, and is presented as monetary in nature.Declaration of cash dividends gives existence to a liability called dividend payable, or scrips payable, and is thus, recorded in books.The termination of employee does not itself involve any direct monetary effect. As, the payment made or realized from such termination will be recorded in financial statements.
In preparing their estimates of the stimulus package's effect on GDP, Obama administration economists estimated a government purchases multiplier of 1.57. This indicates that a $1 billion increase in government purchases would increase equilibrium real GDP by __________.
a) $1 billion
b) $10 billion
c) $100 billion
d) $157 billion
Answer: $1.57 billion
Explanation:
Given that,
Government purchases multiplier = 1.57
Increase in government purchases = $1 billion
[tex]Multiplier=\frac{Change\ in\ Real\ GDP}{Change\ in\ Government\ Purchases}[/tex]
[tex]1.57=\frac{Change\ in\ Real\ GDP}{1,000,000,000}[/tex]
Change in Real GDP = 1.57 × 1,000,000,000
= $1,570,000,000
= $1.57 billion
Hence, $1 billion increase in government purchases will lead to increase equilibrium real GDP by $1.57 billion.
Healthy Living, a diet magazine, collected $ 240,000 in subscription revenue on June 30. Each subscriber will receive an issue of the magazine in each of the next 12 months, beginning with the July issue. The company uses the accrual method of accounting. What is the amount of Subscription Revenue that has been earned by the end of December? (Round any intermediate calculations to two decimal places, and your final answer to the nearest whole number.)
Answer: $120,000
Explanation:
Given that,
On June 30,
Subscription revenue collected = $240,000
Each subscriber will receive = magazine in each of the next 12 months
No. of months from July to December = 6
Here, company is using accrual method of accounting,
Amount of Subscription Revenue that has been earned by the end of December:
[tex]=\frac{Subscription\ Revenue}{12}\times No. of months[/tex]
[tex]=\frac{240,000}{12}\times6[/tex]
= $120,000
Final answer:
Healthy Living magazine earned $120,000 in subscription revenue by the end of December, calculated by accounting for 6 months of magazine deliveries from the total annual subscription revenue collected.
Explanation:
The question involves calculating the amount of Subscription Revenue that has been earned by Healthy Living magazine at the end of December. Healthy Living collected $240,000 in subscription revenue on June 30 for subscriptions that cover the next 12 months, starting with the July issue. As the company uses the accrual method of accounting, the revenue recognized should match the period in which the magazines are delivered.
To calculate the earned subscription revenue by the end of December, we need to consider the number of months for which the magazine has been delivered. From July to December, there are 6 months. Since the total subscription revenue is for 12 months, each month accounts for $240,000 / 12 = $20,000 in revenue. Therefore, the revenue earned by the end of December is $20,000 * 6 = $120,000.
A cellular service provider charged a customer $40 for 150 minutes of airtime. The same provider charged another customer $55 for 300 minutes of airtime. Which linear model represents the total cost, C, as a function of t, the amount of airtime in minutes?
Answer:
[tex]C(t)=0.1t+25[/tex]
Explanation:
So, we are looking for a linear equation. As we know Equation of a line has different forms, let´s use slope-intercept form:
[tex]C(t)=mt+b[/tex]
Where C is the total cost as a function of t, t is the amount of airtime in minutes, m is the slope and b is the y-intercept
Now, let´s use the data provide in order to find m and b:
[tex]40=150m+b[/tex] (E1)
[tex]55=300m+b[/tex] (E2)
We have a 2X2 system of equations, let´s solve it using elimination method:
[tex]2(E1)-(E2)[/tex]
[tex]25=0+b\\b=25[/tex]
Replacing b in (E1) or (E2):
[tex]m=\frac{40-25}{150}[/tex]
[tex]m=\frac{1}{10}=0.1[/tex]
Knowing the slope m and the y-intercept b the linear model that represents the total cost as a function of t is:
[tex]C(t)=0.1t+25[/tex]
You can check the results evaluating t=150 and t=300, the results must be 40 and 55 respectively
The practice of an existing firm replacing one or more of its supplier markets with its own hierarchical structure for creating the supplied product is called _____.
Answer:
The answer is vertical integration.
Explanation:
A Vertical Integration is an expansion strategy, in which a company acquiring various entities engaged in different stages of the value chain. The value chain is the series of processes in a manufacturing system that adds value to an end product. It typically consists a sequence of alterations that are applied during the value chain until one or more raw materials are converted into a finished product.
Vertical integration takes place when a company takes over control of different production or distribution stages of the value chain process until a product or a service is created.
An annuity may best be defined as:
A. a payment at a fixed interest rate.
B. a series of payments of unequal amount.
C. a series of yearly payments, regardless of amount.
D. a series of consecutive payments of equal amounts.
Answer: D. a series of consecutive payments of equal amounts.
Explanation:
An annuity is a financial commodity that provides a fixed amount of payments, paid in equal periods, such as deposits made into savings accounts, monthly home mortgage payments, and monthly insurance payments.
Annuities are meant to be a safe way to secure a steady capital flow during people´s retirement years, as well as to avoid outliving their assets.
An annuity can be best defined as a series of consecutive payments of equal amounts. The Option D.
What is the definition of an annuity?It is a financial product or investment that provides regular payments over a specified period of time. These payments can be made monthly, quarterly, annually, or at other intervals and they typically include both a principal portion and an interest component.
Annuities are commonly used for retirement planning and provide individuals with a steady income stream during their post-work years. By receiving equal payments at regular intervals, annuity holders can better manage their finances and budget effectively.
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Your broker calls to offer you the investment opportunity of a lifetime, the chance to invest in mortgage-backed securities. The broker explains that these securities are entitled to the principal and interest payments received from a pool of residential mortgages. List some of the questions you would ask your broker that would help in assessing the risk of this investment opportunity?
Final answer:
When assessing the risk of mortgage-backed securities, ask your broker about the selection process of the underlying mortgages, the default rate, the diversification of the loan pool, terms and conditions, and credit ratings. These questions will help you evaluate the investment's viability.
Explanation:
Assessing the risk of investing in mortgage-backed securities involves asking your broker a series of questions. You would want to know the track record of the financial institutions originating the loans and the details of the securitization process. Key questions include:
How are the mortgage loans being selected for the securities?What is the default rate of the underlying mortgages?Have the mortgages been issued to borrowers with strong credit profiles?How diversified is the pool of mortgages?What are the terms and conditions of the securities?What is the rating given by the credit agencies, and on what basis?How is the revenue stream structured—specifically, what tranches exist, and how is risk allocated among investors?Understanding the risks associated with these securities is crucial, especially given the role they played in the financial crisis of the mid-2000s and questions around the rigor of ratings agencies' assessments at the time.
A circular flow model shows the interrelationship between the ____ markets and the ____ markets. A. goods; factor B. expenditure; income C. business; household D. household; goods E. household; factor
Answer:
A.
Explanation:
The assumptions of the circular flow model are the characteristics of capitalism.
A capitalist system is based in voluntary exchanges, that are necessary to ensure a competitive marketplace. Consumers are not forced to purchased from a single seller.
In a simple circular flow model exchanges take place between two major sectors:
-business firms, want to sell goods and services and purchase factors of production.
-consumer households, want to purchase goods and services and sell their factors of production.
Exchanges take place between business firms and consumer households in the markets of the economy. This exchanges are called flows of economic activity.
In each market ther is a money flow (payment). And real flow, good, service or factor of production for which a payment is made.
The circular flow model in economics shows the interrelationship between the goods and services market and the factor markets. The goods and services market involves the exchange of finished products, while the factor markets involve the exchange of resources.
Explanation:According to the circular flow model in economics, there are two markets that interrelate: the goods and services market and the factor markets. The goods and services market represents the exchange of finished products between firms and households, where firms sell and households buy goods and services. On the other hand, the factor markets represent the exchange of resources, such as labor, capital, and land, between households and firms, where households sell their resources to firms.
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Given the information here, what is the annual cost of owning?
• Home value $ 300,000
• Annual mortgage payments $ 19,200
• Annual property taxes $ 4,800
• Annual homeowner's insurance $ 1,200
• Estimated maintenance and repairs 1 % of home value
• Growth in equity $ 3,000
• Tax savings (mortgage interest and property tax) $ 2,800
• Estimate annual appreciation 1.5 % of home value
a. $300,000b. $38,500c. $28,200d. $338,500e. $17,900
Answer: Option (e) is correct.
Explanation:
Estimate maintenance cost = Home value × Estimated maintenance and repairs 1 % of home value
= $300,000 × 1%
= $3,000
Estimate Annual appreciation = Home value × Estimate annual appreciation 1.5 % of home value
= $300,000 × 1.5%
= $4,500
Total costs:
= mortgage payments + property taxes + homeowner's insurance + Estimate maintenance cost
= $ 19,200 + $ 4,800 + $ 1,200 + $3,000
= $28,200
Benefits = Growth in equity + Tax savings + Estimate Annual appreciation
= $ 3,000 + $ 2,800 + $4,500
= $10,300
Therefore,
Annual cost of owning = Total costs - Benefits
= $28,200 - $10,300
= $17,900
The annual cost of owning the home is $17,900. The correct answer is option e. $17,900.
Step 1
To calculate the annual cost of owning a home, we need to consider all the expenses associated with homeownership and then subtract any savings or gains. Let's break down the calculations step-by-step:
Expenses:
1. Annual mortgage payments: $19,200
2. Annual property taxes: $4,800
3. Annual homeowner's insurance: $1,200
4. Estimated maintenance and repairs: 1% of home value
[tex]\[ \text{Maintenance and repairs} = 0.01 \times \$300,000 = \$3,000 \][/tex]
Total Expenses:
[tex]\[ \text{Total Expenses} = \$19,200 + \$4,800 + \$1,200 + \$3,000 = \$28,200 \][/tex]
Step 2
Savings/Gains:
1. Growth in equity: $3,000
2. Tax savings (mortgage interest and property tax): $2,800
3. Estimate annual appreciation (1.5% of home value):
[tex]\[ \text{Annual appreciation} = 0.015 \times \$300,000 = \$4,500 \][/tex]
Total Savings/Gains:
[tex]\[ \text{Total Savings/Gains} = \$3,000 + \$2,800 + \$4,500 = \$10,300 \][/tex]
Net Annual Cost:
[tex]\[ \text{Net Annual Cost} = \text{Total Expenses} - \text{Total Savings/Gains} \][/tex]
[tex]\[ \text{Net Annual Cost} = \$28,200 - \$10,300 = \$17,900 \][/tex]
To determine the annual cost of owning the home, we sum all the annual expenses: mortgage payments, property taxes, insurance, and maintenance/repairs. We then subtract the total savings and gains from the growth in equity, tax savings, and appreciation of the home value. The result is the net annual cost of owning the home.
In an establishment that serves alcohol for on premise consumption and gets less than 50% of its gross receipts from alcohol sales, a cashier can be 16. True/False
Answer:
True
Explanation:
Effective from 2015, the Section 106.09 is amended to allow an individual to provide permission to an individual below the age of 18 to act as a cashier in the club or restaurant where alcohol is being sold, only condition applied is:
That the sale of alcohol in such establishment shall not generate revenue more than 50% for total sale revenue including other products.
Here in the given instance,
Gross receipts from sale of alcohol is less than 50% of total sales, and the cashier is 16 years old, thus, it is true.
No Child Left Behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965. True False
im positive it is true.
Explanation:
Answer:
True
No child let behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965
Explanation:
In 2002 No child left behind was passed by Congress as a reauthorization of the elementary and secondary act of 1965. It included provisions for disadvantaged students, as well as support for the reform of standard-based education following the ide that setting high standards and establishing tangible goals could improve the educational environment and its effect on students.
Which of the following is used as a criterion (measure) for judging the degree of international economic integration of an economy?
i. Trade flows across borders
ii. capital flows across borders
iii. similarity of prices in separate markets
iv. people flows across borders
Answer:
i. Trade flows across borders
Explanation:
The international economic inegration of a region is measured by how much trade flows accros borders from and into a certain country, the ideal would be a global free trade agreement among all nations but we know that is virtually impossible, so the criteria used to measure this is the trade flows across borders, because this means that that economy has been integrated into the global market.
The criteria for judging the degree of international economic integration include trade flows, capital flows, price parity across markets, and migration patterns. These aspects are intertwined with globalization and have implications for trade balances and exchange rates.
The criteria used for judging the degree of international economic integration of an economy include:
Trade flows across borders, which include the exchange of goods and services between countries.Capital flows across borders, encompassing borrowing and lending of money, and foreign ownership of property and stock.Similarity of prices in separate markets, indicating the extent to which prices for the same goods align across different countries, suggesting a unified market.People flows across borders, referring to migration patterns of individuals for reasons such as employment, education, or other economic activities.These components interact with one another and contribute to the growing trend of globalization, which is evidenced by the increasing cross-border transactions in goods, services, and financial capital. Furthermore, international trade and international capital flows can influence the exchange rate and the trade balance, affecting the level of economic integration. Changes in capital flows, for instance, can lead to corresponding adjustments in currency values and influence trade balances, as seen in scenarios of capital outflows in a small, open economy, where the demand for foreign currency can alter the exchange rate.
On November 26, Civic Company purchased $1,200 of supplies on account. The journal entry to record this transaction will include _____. a debit to Supplies and a credit to Cash a debit to Supplies and a credit to Accounts Payable a debit to Cash and a credit to Supplies a debit to Accounts Payable and a credit to Supplies
Answer:
a debit to Supplies and a credit to Accounts Payable
Explanation:
Since in the question, it is given that the company purchases $1,200 supplies on account which means that no cash transaction is done. So, we do not consider the cash account.
And since supplies are purchased so we debited the supplies account and credited the account payable account.
So, all other options are incorrect