Carbondale Casting produces cast bronze valves on a 10-person assembly line. On a recent day, 160 valves were produced during an 8-hour shift. a) Calculate the labor productivity of the line. b) John Goodale, the manager at Carbondale, changed the layout and was able to increase production to 180 units per 8-hour shift. What is the new labor productivity per labor-hour? c) What is the percentage of productivity increase?

Answer:

The amount of liabilities reported on the end of period balance sheet was:

$ 13.600  

Explanation:

Retained Earnings Report  

Opening retained earnings $ 4.100

Add: Net Income $ 4.700

Subtotal $ 8.800

Less: Dividends -$ 1.100

Total $ 7.700

TOTAL ASSETS   $27.000  

TOTAL LIABILITIES   $13.600  

Common Stock   $5.700

Retained Earnings   $7.700  

TOTAL EQUITY   $13.400  

The amount of liabilities reported on the end-of-period balance sheet can be calculated using the accounting equation. In this case, the liabilities are $17,700.

The amount of liabilities reported on the end of period balance sheet can be calculated by using the accounting equation: Assets = Liabilities + Equity. We are given the following information: Assets = $27,000, Common Stock = $5,700, Revenue = $12,400, Dividends = $1,100, Beginning Retained Earnings = $4,100, and Ending Retained Earnings = $7,700. We can calculate the Liabilities as follows:

Therefore, the amount of liabilities reported on the end-of-period balance sheet is $17,700.

Final answer:

The earnings that Henry Hacker missed by not participating in the PGA tournaments represent an opportunity cost. Opportunity costs are the benefits one foregoes when choosing one option over another, and although they are not direct expenditures, they are significant in economic decision-making.

Explanation:

The earnings that Henry Hacker forewent by skipping the two tournaments on the PGA tour represent an opportunity cost. Opportunity costs refer to the potential benefits an individual, investor, or business misses out on when choosing one alternative over another. In Henry's case, the opportunity cost is the potential earnings from the tournaments he decided not to participate in. Although not a direct expenditure, opportunity costs are very real and must be considered when assessing the economic impact of a decision. In contrast, the $1,000 paid to his swing coach and the $1,000 used for golf balls are direct costs, as they represent clear financial expenses.

Regarding the golf ball industry, it is characterized by monopolistic competition. This market structure features many companies that sell similar, but slightly differentiated products. Large golf ball manufacturers thus have a strong incentive to market their products as unique to justify higher prices, taking advantage of brand recognition and perceived quality - this can sway professional golfers like Henry. However, for the average amateur golfer, who may not appreciate the subtle differences, most golf balls seem indistinguishable despite marketing efforts to suggest significant differentiation.

Answer:

A) If Bella contributes 3,719.98 per year during 42 years it will get 2,000,000

B) 258.25 if the payment are monthly

C) Because, the retirement is a long-run reward while spending the income in the younger years may be seens as better deal for most americans n my humble opinion.

Explanation:

we will calculate which annuity will equal a future value 2,000,000 at 10% in the period of time from 23 years to 65 years:

[tex]FV \div \frac{(1+r)^{time} -1}{rate} = C\\[/tex]

PV  $2,000,000.00

time 42 (65 years - 23 years )

rate      10% = 10/100 = 0.1

[tex]2000000 \times \frac{(1+0.1)^{42} -1}{0.1} = C\\[/tex]

C  $ 3,719.98

If Bella contributes 3,719.98 per year during 42 years it will get 2,000,000

IF the payment are monthly, we will increase time and adjust the rate:

[tex]PV \div \frac{1-(1+r)^{-time} }{rate} = C\\[/tex]

PV  $2,000,000.00

time 504 (42 years x 12 months per year)

rate 0.008333333 (0.1 / 12 months per year)

[tex]2000000 \times \frac{1-(1+0.008333)^{-504} }{0.008333} = C\\[/tex]

C  $ 258.25

Answer:  $678,220

Explanation:

Given that,

Purchase Discounts = $ 11,000

Freight-in = $15,300

Purchases = $689,020

Beginning Inventory = $55,000

Ending Inventory = $45,600

Purchase Returns and Allowances = $15,100

Cost of goods purchased:

= Purchases + Freight in - Purchase discounts - Purchase returns and allowances

= $689,020  + $15,300  - $ 11,000  -  $15,100

= $678,220

The cost of goods purchased can be calculated by adding the beginning inventory to the purchases and then subtracting the ending inventory.

In the periodic system, the cost of goods purchased can be calculated by adding the beginning inventory to the purchases and then subtracting the ending inventory. So, the formula to calculate the cost of goods purchased is:

Cost of Goods Purchased = Beginning Inventory + Purchases - Ending Inventory

Using the given information:

Plug in the values into the formula:

Cost of Goods Purchased = $55,000 + $689,020 - $45,600 = $698,420

Therefore, the cost of goods purchased is $698,420.

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Answer:

You must donate $ 123455.5556 to endow the scholarship.

If the endow it now but it makes the first award to a student 10 years from today, then the amount to donate will be $ 56842.36731.

Explanation:

if the scholarship one year from now, the donation amount would be:

present fund amount = (scholarship amount)/(discount rate)

                                   = $11,000/9%

                                   = $ 123455.5556

Therefore, you must donate $ 123455.5556 to endow the scholarship.

if the scholarship start in 10 years from today, the amount is:

scholarship amount in 10 years = (amount of scholarship today)/[(1+9%)^9]

                                                     = $ 123455.5556/(1+9%)^9

                                                     = $ 56842.36731

Therefore, if the endow it now but it makes the first award to a student 10 years from today, then the amount to donate will be $ 56842.36731.

Answer:

The return on investment will be 30%

Explanation:

holding period return (HPY): the return on investment during the time ity hold the share. It considers the return on dividends and also the gains or loss  from the variance in the share price

returns:

dividends: 7

increase in share price:  58 - 50 = 8

Total return: 15

Investment

50

HPY:  15/50 = 0.3 = 30%

Answer:

(a) DR ,(b) DR ,(c) CR ,(d) DR, (e) CR, (f) CR, (g) CR, (h) DR ,(i) DR, (j) CR

Explanation:

(a) DR-This is an increase in current asset.

(b) DR-This is a decrease in deferred income i.e currently a liability.

(c) CR -This is an outflow of cash

(d) DR-

(e) CR-This represents increase in current liabilities.

(f) CR-Prepaid rent is a current asset item. This represents decrease in current assets.

(g) CR-

(h) DR-Notes Receivable is a current asset item. Increase represents increase in current asset.

(i) DR-Account payable is a current liability item.This represents decrease in current liability.

(j) CR-Interest revenue is an income item. This represents increase increase in income

In accounting, increases in Accounts Receivable, Unearned Revenue, Interest Expense, Prepaid Rent, Notes Receivable and Accounts Payable are recorded as debits (DR), while decreases in Cash, Salaries Payable, Proudfoot, Capital, and increases in Interest Revenue are recorded as credits (CR).

In the field of accounting, certain rules are followed while recording changes in different accounts. These changes are usually recorded in the form of debits (DR) and credits (CR).

a. An increase to Accounts Receivable would be a Debit (DR).
b. A decrease to Unearned Revenue would be a Debit (DR).
c. A decrease to Cash would be a Credit (CR).
d. An increase to Interest Expense would be a Debit (DR).
e. An increase to Salaries Payable would be a Credit (CR).
f. A decrease to Prepaid Rent would be a Debit (DR).
g. An increase to Proudfoot, Capital would be a Credit (CR).
h. An increase to Notes Receivable would be a Debit (DR).
i. A decrease to Accounts Payable would be a Debit (DR).
j. An increase to Interest Revenue would be a Credit (CR).

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Answer:

Wage Expense ............ $8,150 Dr

Liability ..................................................... $8,150 Cr

Explanation:

If employees earn 1 hour of vacation per 30 hours of work, then vacation earned in 2018 would be 1/30 of wages, that is

($415,000 - $5,500) x 1/30 = $409,500 x 1/30 = $13,650  

Of that amount, $5,500 has been paid so  

$13,650 - $5,500 = $8,150

The appropriate adjusting entry for vacations earned but not taken in 2018 is

Wage Expense ............ $8,150 Dr

Liability ..................................................... $8,150 Cr

Hope this helps!

To prepare the appropriate adjusting entry for vacations earned but not taken in 2018, calculate the number of vacation hours earned but not taken based on the information provided. Then, prepare the adjusting entry by debiting the Vacation Expense account and crediting the Vacation Pay Liability account.

In order to prepare the appropriate adjusting entry for vacations earned but not taken in 2018, you need to calculate the number of vacation hours earned but not taken in 2018 based on the information provided. The employees earn vacation time at the rate of 1 hour per 30-hour work period. Therefore, you need to divide the total wages paid to employees in 2018 ($415,000) by the hourly wage rate ($415,000 / $2.13) to determine the total number of work hours. Then, divide the total work hours by 30 to find the number of vacation hours earned but not taken. Finally, you can prepare the adjusting entry by debiting the Vacation Expense account and crediting the Vacation Pay Liability account for the amount of vacation pay earned but not taken in 2018.

Answer:

Labor force 19,300

Labor Force participation Rate: 64.33%

Explanation:

working population                                  17,700

unemployed actively looking for work    1,600  

Total Labor Force                                    19,300

Labor Force Participation Rate (LFPR):

It is the quotient between the Labor force and the total number of people eligible for a job

19,300/30,000 = 0.6433 = 64.33%

This will be the percentage of the population over 16 year which, are actively looking for a job or are already hired in one.

The firm earned a net income of $21,200 for the period.

The firm earned a net income for the period. To determine the net income, we need to calculate the total revenue and total expenses. The total revenue is obtained by adding the fees for computer repairs and fees for printer repairs, which gives us -

= $41,600 + $5,950

= $47,550.

The total expenses are obtained by adding the advertising expense, salaries expense, telephone expense, and utility expense, which gives us -

$5,700 + $18,500 + $850 + $1,300 = $26,350.

Net income is calculated by subtracting total expenses from total revenue, so -

= $47,550 - $26,350

= $21,200.

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Answer: Option (C) is correct.

Explanation:

Sarbanes-Oxley Act was ratified under the assumption that it will bring down organization fraud. It is also responsible for creation of PCAOB also known as Public Company Accounting Oversight Board which was created to oversee accounting industry. It also denied organization loans to executive and also gave employment protection to so called whistle-blowers. This Act is thoroughly responsible for strengthening independence and the financial literacy of organizations boards.

Answer:

The correct answer is: Free trade causes contraction in the import-competing sector.

Explanation:

Free trade implies no or very low restrictions on trade between countries. These restrictions may be tariffs, quotas, permits, licenses, etc.

Free trade means that foreign producers will be able to sell their products in the domestic market easily. So it will increase competition in the sector that is competing with foreign producers. Or in other words, we can say that it will lead to a contraction in the import-competing sector.

This happens because domestic producers have to face competition from foreign producers. We are aware that a country exports the good it specializes in producing. So obviously foreign producers specialize in that product. This will lead to a contraction in the domestic market for the good.

Final answer:

Henry's accounting profits would be $55,000, while his economic profits would be $38,000 after considering opportunity costs. He should open the microbrewery as the economic profit is positive. The indifference rate of return is 38%, making the microbrewery a favorable investment compared to a 7% return on savings.

Explanation:

Accounting profits are the net income of a business, calculated as total revenues minus explicit costs. In Henry's case, accounting profits can be calculated by subtracting all costs from the total sales revenues. If we consider his salary as part of his costs, the accounting profit would be:

Total Sales Revenue: $55,000 (surplus) + $40,000 (salary) = $95,000

Accounting Profits: $95,000 total revenue - $40,000 salary = $55,000

Calculation of Economic Profits

Economic profits take into account both explicit and implicit costs. Implicit costs include the opportunity cost of the owner's investment and forgone salary. To calculate the economic profits, subtract the opportunity cost of the savings and the forgone salary from Henry's accounting profits.

Opportunity Cost of Savings: 7% of $100,000 = $7,000

Forgone Salary: $50,000 - $40,000 = $10,000

Economic Profits: $55,000 - $7,000 - $10,000 = $38,000

Decision on Opening the Microbrewery

To determine if Henry should open the microbrewery, we compare his economic profit to his current situation. If the economic profit is positive, it indicates that he's better off opening the microbrewery compared to his current job. In this case, Henry's economic profit is $38,000, which is positive, suggesting that it would be beneficial for him to open the microbrewery.

Indifference Rate of Return

To find the rate of return that would make Henry indifferent between opening the microbrewery and not, we need to find the rate at which the opportunity cost of his savings equals the economic profit estimated from the microbrewery.

Indifference Rate of Return: Economic profit / Investment = $38,000 / $100,000 = 38%.
This rate is substantially higher than the current 7%, suggesting that at any rate below 38%, the microbrewery would be the more attractive option.

Answer:

Ending inventory assuming FIFO would be $411

Explanation:

Date Q U.cost Cost Sold Inventory Cost

april 1 410 2,33  955,3 410         0                   0

apri 20 380 2,74    1041,2 230       150                   411

                           640  

Answer:

The correct answer is option b.

Explanation:

President Bigego is claiming that more people are working after he too office.  

Senator Pandor claims that the unemployment rate has increased after Bigego took office.  

Both of them can be right. Unemployment and the number of people working both can increase at the same time. If the labor force increased overtime, the number of people working can increase.  

Though if the growth of employment is slower than the growth of the labor force, then unemployment will increase as well. This is because with the increase in labor force number of workers will increase but slower employment growth will create fewer jobs. So, unemployment will increase.

Answer:

The correct answer is C

Explanation:

With the following information, we need to calculate the direct materials and direct labor:

Woodcarving Co. incurred the following costs during May:

Conversion costs $ 476,500

Prime costs 403,750

Manufacturing overhead 320,500

We know that:

Conversion cost= direct labor + Manufacturing overhead

476500= direct labor + 320500

direct labor= $156000

Prime costs= direct materials + direct labor

403750= direct materials + 156000

direct labor= $247750

Final answer:

The amount of direct materials used by Woodcarving Co. in May was $247,750, and the amount of direct labor was $156,000. These were calculated by using the given prime costs and conversion costs, and deducting the value of manufacturing overhead.

Explanation:

The question asks to find the amount of direct materials and direct labor used by Woodcarving Co. in May, given the costs of conversion, prime, and manufacturing overhead. To find these amounts, we need to understand that prime costs consist of direct materials plus direct labor, and conversion costs consist of direct labor plus manufacturing overhead.

If we denote direct materials as DM, direct labor as DL, and manufacturing overhead as MO, then we have the following relationships:

Using the provided numbers:

We can calculate direct labor (DL) by rearranging the conversion costs equation:

DL = CC - MO

DL = $476,500 - $320,500

DL = $156,000

Now plug in the value of DL into the prime costs equation to find DM:

DM = PC - DL

DM = $403,750 - $156,000

DM = $247,750

So, the amount of direct materials used in May was $247,750 and the amount of direct labor was $156,000.

Answer:

b. As paid-in capital from treasury stock transactions.

Explanation:

No gain is recognize when selling stock, as this represent contribution to the company from the stockholders. This is not a gain for the company is just a contribution.

The treasury stock will be write-off, cash will be debited for the amount received and then, any difference will be settle by debiting or crediting the paid-in capital from Treasury  Stock.

Answer:

True Statements are as follows:

Assets are on the left-side of the accounting equation.

As the accounting equation is as follows:

Assets = Liabilities + Stockholder's Equity.

Assets are increased with debits.

All the assets have debit balance and therefore, it increases with debit balance and decreases with credit balance.

Assets are decreased with credits.

As assets have debit balance, it increases with a debit and decreases with each credit, as for example with depreciation balance of fixed assets are decreased.

The correct statements about Assets are:

Therefore, options, A, C, and F are correct.

Assets encompass a diverse spectrum of tangible and intangible resources held by individuals, businesses, or entities, serving as the bedrock of economic value. These encompass physical properties such as cash, real estate, and machinery, along with intangibles like patents and goodwill.

Assets embody economic potential, capable of generating future benefits or yielding financial returns. Their classification as current or non-current aids in gauging liquidity and long-term viability.

In the intricate mosaic of financial analysis, assets represent the building blocks (Assets = Liabilities + Equity) upon which financial health, investment decisions, and economic prosperity are intricately woven.

Therefore, options, A, C, and F are correct.

Learn more about Assets here:

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Answer:

B. 700

Explanation:

the general linear equation formula is as follow:

[tex]y = mx + h[/tex]

Where h is the value at which the formula intercept the Y axis

And m is the slope value, therefore:

[tex]y = -50x + 1,200[/tex]

if x = 10

[tex]y = -50(10) + 1,200[/tex]

y = -500 + 1,200

y = 700

This will be the value of the formula when x = 10

Answer:

Ans. A) NPV= -$9306

Explanation:

Hi, the first thing we need to do is to find the after-tax cost of the firm's capital, and since all capital sources are expressed in terms of after-tax percentage, we just multiply each proportion of capital by its costs, I mean

Long term Debt (7%) * 25% +Preffered Stock(11%)*15% + Common Stock(15%)*60%

The answer to this is 12.40%.

Now, we can find the net present value of this project by using the following formula.

[tex]NPV=-InitialOutlay+\frac{CashFlow((1+Cost of Capital)^{n} -1)}{Cost of Capital(1+Cost of Capital)^{n}}[/tex]

[tex]NPV=-350,000+\frac{95,450((1+0.124)^{5} -1)}{0.124(1+0.124)^{5}} =-9,306.5[/tex]

Since the expected cash flow takes place 5 times form year 1 to 5, and is equal to $95,450, "n" is equals to 5 and "CashFlow" is equal to $95,450.

Therefore, the NPV of this project is -$9,306, which is answer A)

Best of luck.

Answer: $15,903

Explanation:

Given that,

Lori borrows = 10,000

Time period = 10 years

Interest rate = 9%

Sinking fund (Interest rate) = 8%

Two payments are involved;

(i) the interest payment on the loan

(ii) the payment to the sinking fund

Annual interest payment = 10000 × 9%

                                          = $900

Payment to the sinking fund:

Amount to be accumulated by the end of the 10th year along with interest = $10000

Amount to be deposited at the end of each year:

= [tex]10,000\times\frac{0.08}{(1.08^{10}-1) }[/tex]

= $690.29

Total payment per annum = $1,590.29

Total payment for the 10 year period = 1590.29 × 10

                                                             = $15,903

Answer:

FV= $1661

Explanation:

Giving the following information we need to calculate the money at the final:

PV= $1000

i=0,058

n=9 years.

We need to use the following formula:

FV= PV*[(1+i)^n]

In this exercise:

FV= 1000*[(1+0,058)^9]

FV= $1661

At the end of year 9, she will have $1661

Answer: A. In a​ partnership, income is taxed once at the individual​ level; whereas, in a​ corporation, income is taxed twice.

Explanation: Hi, a corporation is considered a legal entity for tax purposes, so it pays taxes based on the corporate tax rate for their income. But also the shareholders pay taxes based on the individual tax rate for the dividends payments received.  There is a double taxation .

A partnership is a collection of individuals that come together, the partners are personally liable for the business’s obligations. So, each partner pays taxes based on the individual tax rate for the incomes.

Answer:

(a) The amount you need in your retirement account the day yo retire is $581,773.42.

(b) If you take the first withdrawal the day you retire, the amount needed is $669,039.44.

Explanation:

This problem is a case of annuity (n = 25 years).

They plan to withdraw $ 90,000 annually from the end of the first year of retirement.

The formula that relates capital in the account to annual withdrawals is

[tex]C=A*D=A*\frac{(1+i)^{n}-1}{i*(1+i)^{n}} \\\\C=90,000*\frac{(1+0.15)^{25}-1}{0.15*(1+0.15)^{25}}=90,000*6.46414908527014\\\\C= 581,773.42[/tex]

If your first withdrawal will be made the day you retire, you can calculate the amount of money in your account as the amount calculated before ($581,773.42) and multiplying it by (1+i)=1.15.

This is because all withdrawals are being advanced in one year, so the current value would be C '= C * (1 + i). Then we have:

[tex]C'=C*(1+i)=581,773.42*(1+0.15)=669,039.44[/tex]

Final answer:

To find out how much is needed for retirement, use the present value of an annuity formula. With a 15% annual return rate and $90,000 annual withdrawals over 25 years, compute the present value for withdrawals one year after retirement. If withdrawing starts on retirement day, simply add one year's withdrawal amount to the calculated present value.

Explanation:

Calculating Retirement Savings

When planning for retirement, one must know the amount required to withdraw annually and the expected rate of return on their retirement account. For an expected annual retirement expense of $90,000 and an anticipated account yield of 15% annually, we can calculate the required retirement savings using the formula for the present value of an annuity:

PV = PMT * [(1 - (1 + r)^{-n}) / r]

Where PV is the present value (the amount needed on the retirement day), PMT is the annual withdrawal amount ($90,000), r is the interest rate (0.15), and n is the number of years (25).

If the first withdrawal happens one year after retirement, the present value is calculated as follows:

PV = $90,000 * [(1 - (1 + 0.15)^{-25}) / 0.15]

This calculation will give us the amount needed in the retirement account the day one retires.

However, if the first withdrawal is made on the day of retirement, we need to adjust the calculation by simply adding one year's worth of withdrawal because it won't have the chance to earn interest. Therefore, the adjusted present value is:

New PV = PV + $90,000

This reflects the new amount required in the retirement account on the day of retirement.

Answer:

The Vaughn Manufacturing’s net income for 2017 is $39,680

Explanation:

The computation of the net income is shown below:

In simple form, the net income equals to

= Total revenue - total expenditure

= Service revenue (from camping fees) + Sales revenue (from general store) - Expenses during 2017

= $168,960 + $32,000 - $161,280

= $39,680

The other items which are mentioned in the question are irrelevant. Therefore, these are ignored for the computation part

Answer:

W-A equivalent units for conversion cost:  58,800

Explanation:

Under weighted average we will calculate equivalent untis as follows:

the complete units + completion in ending WIP

Calculations for complete units:

beginning WIP:    4, 000

transferred-in:    66, 000

Total                    70, 000

Ending WIP        (28,000)  

Complete units   42,000

Calculation for completion of WIP

ending WIP x percentage of completion

28,000 x 60% = 16,800

Equivalent units

42,000 + 16,800 = 58,800

Answer:

It will charge 54.22 per hour to obtain a yield of 7.3% on the track dozer.

Explanation:

purchase cost 165,500

repair costing 26,000 at year 4

annual cost: 1,800 x 35 = 63,000

salvage value at end of useful life:

21% of purchase cost :

21% of 165,500 = 34,755

We will calculate the present value of the salvage value and the overhaul, to know how much does the company need to generate per year:

165,000 + pv of overhaul + pv of salvage value  = present value of the cash inflow

pv of the overhaul

[tex]\frac{overhaul}{(1 + rate)^{time} } = PV[/tex]

overhaul: 26,000

time   4

rate 0.073

[tex]\frac{26000}{(1 + 0.073)^{4} } = PV[/tex]

PV  $19,614.3744

Then, the PV of the salvage value:

[tex]\frac{salvage}{(1 + rate)^{time} } = PV[/tex]

salvage 34,755

time 6

rate 0.073

[tex]\frac{34755}{(1 + 0.073)^{6} } = PV[/tex]

PV  $22,772.9326

165,500 + 19,614.3744-22,772.9326 = 163,341.4418

The present value of the contribution per hour at 7.3% discount rate should equal this amount

So we will set up the formula for the cuota of an annuity:

[tex]PV \div \frac{1-(1+r)^{-time} }{rate} = C\\[/tex]

PV  $163,341.44

time 6

rate 0.073

[tex]-34586.3538411519 \div \frac{1-(1+0.073)^{-6} }{0.073} = PV\\[/tex]

C 34,586.35

The contribution per year should be 34,586.35

each hour contribution should be: 34,586.35/1,800 = 19.2146

After the operating cost it should net 19.2146

hourly rate - 35 = 19.2146

hourly rate = 19.2146 + 35 = 54.2146 = 54.22

The owner of the track dozer should charge about $49.5 per hour to cover all associated costs and maintain the company's cost of capital rate of 7.3%.

First, you need to calculate the total costs associated with the dozer over its expected life. The initial cost is $165,500. The ongoing costs are $35/hour for 10,800 hours, which equals $378,000. Now, the major maintenance cost of $26,000 should be included. So, the total cost at this point is $569,500 ($165,500 + $378,000 + $26,000).

However, at the end of its life, expect to be able to sell (salvage) the dozer for 21% of its original value, which is $34,755. So, subtract the salvage value from the total costs, producing a figure of $534,745. The owner needs to recover this cost over the life of the dozer.

The machine is expected to operate 1,800 hr per year. Then, divide the total cost ($534,745) by the total number of operating hours (10,800 hours). Thus, the owner should charge about $49.5 per hour to cover the total costs and maintain the company's cost of capital rate of 7.3%.

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Answer:

cash                1,470

sales discount    30

return goods   1,100

    sales revenue     2,600

to record payment received from Morton Company

Explanation:

on sale:

account receivable   2,600

         sales revenue               2,600

we analize the commercial terms:

2/7 within the first 7 days, paying the invoice generates a 2% discounts

n/30 after that, until 30 days pays the nominal amount

balance at payment date:

sales for                2,600

returned goods:   (1,100)

  balance              1,500

discount 1,500 x 2% = 30

journal entry:

cash                1,470 (1,500 nominal - 30 discount)

sales discount    30

return goods   1,100

    sales revenue     2,600

Answer:

Total annual cost= $123

Explanation:

Giving the following information we need to calculate the annual cost:

Fixed monthly cost= $3.25

Variable cost= $0.35 per check

Q=20 month

Total annual cost= Fixed monthly cost*12+ (Variable cost*20)*12

Total annual cost= (3,25*12)+(0,35*20)*12= $123

Final answer:

The net annual cost of the checking account with a monthly fee of $3.25 and a processing fee of $0.35 per check, with an average of 20 checks written per month, is $123.00.

Explanation:

To calculate the net annual cost of a checking account with a monthly fee and a per-check processing fee, we need to consider both the fixed monthly cost and the variable cost dependent on the number of checks written. The question specifies a monthly fee of $3.25 and a processing fee of $0.35 per check, with an average of 20 checks written per month.

Calculating the Annual Cost

The net annual cost of the checking account is $123.00.

Answer:

The correct answer is A: both the unemployment rate and labor-force participation rate would be higher.

Explanation:

The unemployment rate is the share of the labor force that is jobless, expressed as a percentage. To calculate the unemployment rate, the number of unemployed people is divided by the number of people in the labor force, which consists of all employed and unemployed people.  It defines unemployed people as those who are willing and available to work, and who have actively sought work.

By increasing the number of people unemployed, the number of employed people is now divided by a larger base. Meaning that the unemployment rate increases.

The labor force participation rate measures an economy's active labor force and is the sum of all employed workers divided by the working-age population. It refers to the number of people who are either employed or are actively looking for work. The number of people who are no longer actively searching for work would not be included in the participation rate.

By increasing the number of people of unemployed people, they will be considered as people that are actively looking for work. Meaning that labor force participation increases.

All discouraged workers are counted as unemployed, both the unemployment rate and the labor-force participation rate would increase because these individuals are added both to the unemployed count and the total labor force count.

The correct answer to this question is (a). If individuals who are too discouraged to make a serious effort to look for work were counted as unemployed instead of out of the labor force, both the unemployment rate and the labor-force participation rate would be higher. This is because the unemployment rate is a ratio that compares the number of unemployed individuals to the total labor force. Meanwhile, the labor-force participation rate measures the total number of individuals who are either employed or actively looking for work, as a percentage of the working-age population. Therefore, counting these discouraged workers as unemployed would add to both the number of people counted as unemployed and those considered as part of the labor force, raising both rates.

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