Final answer:
The question involves calculating the interest on a promissory note and determining the journal entry for the collection of the amount due at maturity. The interest is calculated based on a principal of $5,600 at a 10% annual rate over a 90-day period, resulting in $140 of interest and a total amount due of $5,740.
Explanation:
The scenario described in the question relates to a promissory note transaction between Giorgio Italian Market and Food Suppliers. Giorgio Italian Market has purchased merchandise and has agreed to pay the sum of $5,600 back to Food Suppliers in 90 days with a 10% interest using a promissory note. To address this question, we need to calculate the interest accrued and the total amount due on the maturity date, considering a 360-day year for simplicity in interest calculation.
To calculate the interest: Interest = Principal × Rate × Time = $5,600 × 10% × (90/360) = $140.
So, the total amount due on the maturity date would be the principal plus interest: Total Amount = Principal + Interest = $5,600 + $140 = $5,740.
Therefore, Food Supplier's journal entry to record the collection on the maturity date will debit Cash for $5,740, credit Notes Receivable for $5,600, and credit Interest Revenue for $140.
To record the collection on the maturity date, Food Suppliers should debit Cash $5,740, credit Notes Receivable $5,600, and credit Interest Revenue $140. This includes both the principal and the interest earned over the 90-day period.
Promissory Note Collection:
To record the collection of the 90-day, 10% promissory note (considering a 360-day year), Food Suppliers must account for both the principal and the interest.
Steps to Calculate Interest:
Calculate the interest for 90 days:
Interest = Principal × Rate × Time = $5,600 × 10% × (90/360) = $140.Total amount collected at maturity date:
Total = Principal + Interest = $5,600 + $140 = $5,740.Journal entry for Food Suppliers:
Debit Cash $5,740 Credit Notes Receivable $5,600 Credit Interest Revenue $140.This journal entry properly reflects the collection of the note's principal and the earned interest.
Mclaren Corp. incurred the following costs to acquire and prepare land during 2016 for a new parking lot: purchase price for land, $800,000; cost to clear the land, $30,000; cost of paving, $40,000; and lighting for the parking lot, $20,000. How much should Mclaren Corp. record in the Land Improvements account?
Answer:
800000 I OP if too u
Explanation:
because
A(n) _____ is best used to depict the transformation of raw materials into finished goods and services along distinct vertical stages. A. forces model B. vertical alliance C. industry value chain D. horizontal alliance
Answer:
An force model B vertical alliance.
59. Chapter ma2pe08r, Section .11, Problem 069 (ID: 069.01.1 - MC - MANK08) College-age athletes who drop out of college to play professional sports a. are not rational decision makers. b. are well aware that their opportunity cost of attending college is very high. c. are concerned more about present circumstances than their future. d. underestimate the value of a college education.
Answer:
b. are well aware that their opportunity cost of attending college is very high.
Explanation:
Since the College-age athletes are able to play professional sports; (which is one of the things an athlete longs for in his career) without finishing college. Going back to college would seem like a waste of time to them because they have achieved a milestone even without finishing college.
Hence, they are well aware that their opportunity cost of attending college is very high.
Answer:
B) are well aware that their opportunity cost of attending college is very high.
Explanation:
Opportunity costs refer to the extra costs or benefits lost from choosing one activity or investment over another alternative.
When we are talking about college athletes, that might mean a lot of money, since staying at college means that they will not be able to play professionally. Professional sports leagues use rookie contracts which are generally "cheap" to try to discourage college students form dropping out, but still those cheap contracts have 5 zeros.
Many players are concerned about their careers being too short and others are simply eager to become rich. So many decide to drop out of college and enter the draft.
With regards to performance appraisal dimensions and standards, _________ are the goals of meeting product specification standards. activity plans sustainability measures differential measures input measures output measures
Answer:
OUTPUT MEASURES
Explanation:
Simply put, production calculation relates to the metric that determines what has been generated (e.g., quantity of gadgets made or quantity of hot dogs ended up serving) or the facilities you rendered (e.g., number of customers). Production assessments do not discuss the job's importance or effect to the explicit or implicit stakeholders. An instance indicator of the production is velocity.
A CEO made a lot of mistakes in assessing the market and the competitive conditions and improperly redesigning the organization into numerous business units. Such errors led to significant performance declines. According to the text, this example illustrates the ________ perspective of leadership.
Answer:
B. romantic
Explanation:
Based on the scenario being described within the question it can be said that the romantic perspective of leadership. This is a view which describes a situation in which the individual leader is the sole determining factor of the organizations success or failure. Such as in this case since the company's failure rests solely on the actions of the CEO.
Angela believes that Beamer Corporation’s stock will drop in value. She borrows 150 shares from a brokerage firm when the stock was selling at $42 per share. When the stock’s price dropped to $27 per share, she told the brokerage firm to buy 150 shares of Beamer stock. This stock was returned to the brokerage firm in replace of the stock she first borrowed. What is Angela’s profit on her short selling investment?
Given:
Total number of shares = 150
Selling price = $42
Purchase price = $27
Find:
Angela’s profit on investment = ?
Computation of Angela’s profit on investment:
Angela’s profit on investment = Total sales value - Total purchase value
Angela’s profit on investment = (150 x $42) - (150 x $27)
Angela’s profit on investment = $6,300 - $4,050
Angela’s profit on investment = $2,250
Therefore, Angela’s profit on the selling of investment is $2,250.
Angela made a profit of $2,250 by short selling 150 shares of Beamer Corporation's stock, buying them back when the price dropped and returning them to the brokerage.
Angela engaged in an investment strategy known as short selling with Beamer Corporation's stock. Initially, Angela borrowed 150 shares and sold them at the market price of $42 per share. Later, when the price dropped to $27 per share, she repurchased the same quantity of shares to return to the brokerage. To calculate Angela's profit from this short selling investment, we consider:
The total amount received from the initial sale: 150 shares imes $42 per share = $6,300
The total cost to repurchase the shares: 150 shares imes $27 per share = $4,050
Angela's profit is the difference between the amount received and the amount spent on repurchase:
$6,300 (amount received) - $4,050 (amount spent on repurchase) = $2,250 (profit)
Therefore, Angela's profit on her short selling investment is $2,250.
The political business cycle refers to the possibility that
The political business cycle refers to the government's use of fiscal policy to influence the economy in line with their political goals.
Explanation:The political business cycle refers to the possibility that the government may use fiscal policy to influence the economy in a way that aligns with their political goals. This can result in shifts in aggregate demand and aggregate supply, leading to business cycles of recession and recovery. For example, the government may choose to increase spending or reduce taxes during an election year to stimulate the economy and gain political support.
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Melissa Price is a member of the sales force at Urban Fashions, a Houston-based manufacturer of women's apparel. Melissa is preparing for a first meeting with a wholesaler who is a potential customer. She is learning as much as she can about her prospect and his organization. Melissa is in the ________ step of the personal selling process.
Answer:
Pre-approach
Explanation:
In case of personal selling, the seller and prospective buyer come face to face, wherein the former tries to highlight and convey product attributes to the prospect with an objective of effecting a sale.
Under 7 step personal selling approach, pre approach refers to conducting customer research and planning goals for the presentation, which is to be be given to the prospect.
Under this approach, the salesperson fixes up a face to face meeting with the prospect in order to ascertain prospect's needs and wants. Post ascertainment of such needs, the salesperson carries out a presentation, informing the prospect about product attributes which would meet such needs.
In the given case, Melissa is preparing for her first client meeting, trying hard to learn about prospect and his organization i.e customer research. Thus, this is the pre-approach step of the personal selling process.
Perry Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost information has been compiled: Product Number of Setups Number of Components Number of Direct Labor Hours Standard 12 8 255 Deluxe 28 12 245 Overhead costs $52,000 $78,000 Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity-based costing system is used, what is the total amount of overhead costs assigned to the standard model? Group of answer choices $45,600 $47,400 $46,800 $49,200
Answer:
$46,800
Explanation:
Total overhead costs based on traditional systems of both products are: $52,000 +$78,000 = $130,000
Assuming that Perry Corporation applies the activity-based (setups and components) costing system instead of the traditional one, the overhead cost for the standard model can be calculated as following:
+) Overhead cost of each setup (for both products) = $52,000/(12 + 28) = $1,300
+) Overhead cost of each components (for both products)
= 78,000 / (8+12) = $3,900
=> Total overhead costs using activity - based costing system is:
Total overhead costs = 1,300 x Number setups needed for standard model + 3,900 x Number of components needed for standard model
= 1,300 x 12 + 3,900 x 8
= $46,800
At April 30, Yaddof Company has the following bank information: cash balance per book $4,600; outstanding checks $780; deposits in transit $550; credit memo for interest $100; bank service charge $20. What is Yaddof's adjusted cash balance on April 30?
Answer:
$4,370
Explanation:
As this is the cash balance and the adjustment is on the same day, so that the transaction would adjust Yaddof Company included only outstanding check and deposit in transit.
In this case, the adjusted cash balance on April 30 of Yaddof Company can be calculated as:
Adjusted Cash Balance = Cash balance - Outstanding check + deposits in transit = 4,600 - 780 + 550 = $4,370
Conclusion: The adjusted cash balance is $4,370
A government program guarantees $18,000 in income, even for those who do not work at all. If the recipient earns income by working, then the $18,000 benefit is reduced by 50 cents for each $1 earned. Will this program eliminate the poverty trap
Question Options:
Yes, enacting such a program will eliminate the poverty trap.
No, enacting such a program may still reduce the incentive to work.
Yes, and enacting such a program will cost the government less money.
Yes, enacting such a program will create adequate incentive to work.
Answer:No, enacting such a program may still reduce the incentive to work.
Explanation: Poverty trap can be defined as a self-reinforcing cycle which allows poverty to persist. This poverty trap is the worst form of poverty. In this situation an increase in someone's income is offset by a consequent loss of state benefits, leaving them no better off.
A global defense contractor needs deep functional skills as well as the ability to coordinate across the functions of each contract or project. For this example, the organizational structure that would best suit their needs would be a matrix structure. True/ False?
Answer:
True
Explanation:
Synergy is the concept that two businesses operating within a company will generate more profits together than they could separately by common use of technology, customers, distribution, managerial skills, or product similarity.
Answer:
True
Explanation: A matrix structure is a type of structure that strategically combines two or more structural system. It appears as a grid. In a matrix structure individuals works across departments and functions in combination to their own departmental roles and responsibilities. With a matrix structure the personnel is expected to be made of different skills set, Most organisations have succeeded in adopting the matrix structure system which gives their personnel the opportunity to work in multiple functions.
A company desires to sell a sufficient quantity of products to earn a profit of $280000. If the unit sales price is $16, unit variable cost is $12, and total fixed costs are $800000, how many units must be sold to earn net income of $280000?
Answer:
$270,000
Explanation:
Data provided
Quantity of products = $280,000
Total fixed costs = $800,000
Unit sales price = $16
Variable cost = $12
The computation of units must be sold is shown below:-
Contribution per unit = $16 - $12
= $4 per unit
Units must be sold = (Quantity of products + Total fixed costs) ÷ Contribution per unit
= ($280,000 + $800,000) ÷ $4
= $1,080,000 ÷ $4
= $270,000
_________ involves reviewing the project charter, requirements documents, and organizational process assets to create a scope statement, adding more information as requirements are developed and change requests are approved.
a. Creating scopeb. Defining scopec. Controlling scoped. Validating scope
Answer:
The correct answer is B
Explanation:
Defining the scope means all the work which is required to be completed in order to accomplish the objectives or goals of the project. In short, it comprise of the procedure of documenting, reviewing and the identifying the particular goals of the project, tasks, timeline dates, outcomes and costs to the objective of the project.
Therefore, the defining scope comprise of the process of organizational, reviewing the project charter and documents in order to establish the scope statement adding information as the requirements are developed.
Luna wanted to convince the technology department at her company to adopt a new database system. Some staff members supported the change, a few were opposed, and most were undecided. Luna realized the undecided group was her __________, so she focused most of her effort on them.
Answer:
b. target audience
Explanation:
Luna is convincing her company to make changes in the new database. Similarly, some of the staff is supporting her ideas while some are not. So, Luna decided that the undecided or open group is her target audience. It is her priority to convince them to vote for the change. She has to convince them, which is why she has focused her attention and her effort on them.
Which of the following costs should not be included in the cost of a building?
a. Remodeling of the building prior to use
b. Purchase price
c. Closing costs (e.g., title insurance)
d. Parking lot repaving
e. Real estate broker's commission
Answer:
D. Parking lot repaving cost.
Explanation:
The cost of parking lot repaving is considered to be land improvements and it is maintained in a separate book of account from building accounts. Remodeling cost of a building, Broker commission, purchase price of a building, depreciation, etc are considered as a cost of building, these costs determine the purchase price of a building in the unit of a square foot. Land improvement cost is recorded separately from land as land improvement has a limited life. It includes all expenditure that is incurred for the improvement.
A larger, higher-resolution computer display can improve your business by
Question 3 options:
enhancing your productivity.
reducing eye strain.
speeding up processing.
improving your sound system.
Answer:
It can improve one's business by reducing eye strain
Explanation:
To begin with, resolution in computer display or a computer display resolution is all about how clearly a computer can display visual contents through its monitor. A higher resolution results in clearer display while a lower resolution gives a display that is not sharp.
When images are sharper, anybody using the computer would not have to strain his/her eyes (or get tired eyes) while viewing contents on the monitor. Thus a higher resolution computer improve business as users of such computers don't easily get tired eyes resulting from poor display.
Answer:
Enhancing your productivity
Explanation:
Chapter 26: Start Your Own Business
Rhett corporation manufactures and sells dress shirts. each shirt (unit) requires 3 yards of cloth. selected data from rhett's master budget for next quarter are shown below: april may june budgeted sales (in units) 26,000 28,000 32,000 budgeted production (in units) 28,000 32,000 36,000 desired ending inventory of cloth (in yards) 2,100 2,800 3,000 how many yards of cloth should rhett plan on purchasing in may?
Rhett corporation's Plan on budgeted purchasing in may is 97,600 yards
Explanation:
Opening inventory of May = Closing inventory of April = 2100 yards
Budgeted production of May = 32,000 units
Closing inventory of May = 2800 yards
Required inventory for producing 32,000 units
= 32,000 × 3 yards (per unit production of shirt) = 96,000 yards
Plan on purchasing in may
= Total yards needed - opening inventory + closing inventory
= 96,000 - 2100 + 2800 = 97,600 yards
[tex]= 96,000 - 2100 + 2800 = 97,600 yards[/tex]
You're the Chief Marketing Officer of SalonCentric, a wholesaler of hair and beauty products sold to licensed beauticians and cosmeticians through brick-and-mortar stores across the United States. You want to increase revenue by expanding into another market category. What is your best option?
Answer:
My best option would be to start producing hair dye which I can sell to companies that produce or manufacture hair color.
Explanation:
As a marketer, one of the ways by which you can generate revenue is by expanding your business into another market category.
While expanding a business into another market category it is very important to make sure the following are available.
a. There must be enough money to aid in the expansion of the business.
b. Your business has a consistent flow of customers that are loyal to your brand.
In the question above, a Chief Marketing Officer that sells hair and beauty products wants to expand her business. Her best option would be to start producing hair dye because she sells hair products already to licensed beauticians therefore
a. She has a steady flow of customers already.
b. Hair dye is an hair product as well therefore it would be quite easy to market and sell her product very well.
uppose that the one-year forward dollar price of a euro is $1.36. Further, assume that the spot exchange rate is $1.28 per euro, and that the interest rate on dollar deposits is 6 percent. What is the interest rate on Euro deposits that would make interest parity hold
Answer:
You want to learn about the Ferris–wheel riding habits of people, so you ask those leaving a theme park, “How many times did you ride the Ferris wheel today?”
Is the question a statistical question? Explain why or why not. soo yaah
Explanation:
Section 404 of the Sarbanes-Oxley Act requires:
A. The establishment of procedures to accept employee complaints.
B. Code of ethics requirements for senior officers.
C. A report of the company's internal control over financial reporting.
D. The principle executive to certify that they have reviewed the financial statements
Answer:
C) A report of the company's internal control over financial reporting.
Explanation:
The Sarbanes-Oxley Act (2002) establishes auditing and financial regulations for publicly traded companies. Section 404(a) states that upper management must establish an internal control structure that oversees financial reporting. Upper management is also responsible for verifying the effectiveness of the control structure.
*BLANK* bias indicates the tendency of an individual to attribute his or her own successes to internal factors while putting the blame for failures on external factors. A. Contrast bias B. Self-serving C. Distinction D. Congruence E. Anchoring
Answer:
B- Self-serving
Explanation:
just took it
Capital budgeting is the process of:
a. keeping track of all the revenues and expenses incurred by a firm during the year.
b. determining how much capital a firm should raise.
c. determining how much debt a firm should budget for in its capital structure.
d. determining which capital investments a firm should make.
Answer:
d. determining which capital investments a firm should make.
Explanation:
Capital Budgets are prepared to determined which capital investments a firm should make. This takes into account the projected cash flows and discounting them with the firm`s cost of capital to determine the net present value of a capital project.
Answer:
determining which capital investments a firm should make.
Explanation:
Budgeting is the process by which an individual or a business plan future spending on the various projects they want to accomplish.
Budgeting helps with proper planning and avoids waste.
Capital budgeting is the process of ascertaining if spending on long term investment like new products, research and development, new machinery, and so on is worth it and relevant for the company.
Suppose the one-year forward $/euro exchange rate is $1.2 per euro and the spot exchange rate is $1.1 per euro. What is the forward premium on euros (the forward discount on dollars)? The forward premium on euros is nothing percent. (Give your answer as a percentage with one decimal and do not forget a negative sign, if appropriate.) Given the above information, what is the difference between the interest rate on one-year dollar deposits and that on one-year euro deposits (assuming no political risk)? The difference between the dollar interest rate and the euro interest rate Upper R Subscript $ Baseline minus Upper R Subscript euro Baseline equals nothing percent. (Give your answer as a percentage with one decimal and do not forget a negative sign, if appropriate.)
Answer:
You want to learn about the Ferris–wheel riding habits of people, so you ask those leaving a theme park, “How many times did you ride the Ferris wheel today?”
Is the question a statistical question? Explain why or why not yomahama
Explanation:
According to the austrian view of the business cycle, if expansionary monetary policy pushes the interest rate to an artificially low level, the result will be
Answer:
Mal investment and an unsustainable economic boom followed by recession
Explanation:
According to the austrian view of the business cycle, if expansionary monetary policy pushes the interest rate to an artificially low level, the result will be MAL INVESTMENT AND AN UNSUSTAINABLE ECONOMIC BOOM FOLLOWED BY RECESSION
PureSource Pharma Inc. recently acquired BioChem Pharmaceuticals Inc. It now sells its own products along with the products originally sold by BioChem Pharmaceuticals. As a result, PureSource Pharma's sales force will also be marketing the acquired company's products. How will this horizontal integration most likely affect PureSource Pharma?
A. PureSource Pharma will lower its costs through economies of scale.
B. PureSource Pharma will diminish its economic value creation.
C. PureSource Pharma will increase its cost of distribution.
D. PureSource Pharma will reduce the size of its sales force.
Answer:
A.
Explanation:
Based on the scenario being described within the question it can be said that this will most likely affect them by allowing PureSource Pharma to lower its costs through economies of scale. Meaning that they will incur less costs for every additional unit that they generate as output. Whether it is their or another acquired company's product.
Livermore Industries uses a kanban system to manage production of the KR-9 subassembly. In a ten-hour day, they use 1500 units and use containers that can hold 50 units each. It takes 45 minutes to fill and move a container of parts to the right place on the KR-9 line that is currently rated at a 15% safety factor. How many production cards are needed
Answer:
3 cards are required since given problem statement states that 15% as safety factor.
Imagine you are considering which type of career you want. which of these would be most important to your design to your decision about wether to choose this career? check all that apply.
a) tasks performed
b) work environment. including hours worked
c) pay
d) number of jobs available
e) projected industry
f) education required
Selling to another company the right to make and market a product line is called _____ the line.
A. spinning off
B. branding
C. extending
D. lowering
Answer:
A. spinning off
Explanation:
Selling to another company the right to make and market a product line is called spinning off the line. The appropriate response is Option A.
What is spinning off ?A spinoff occurs when a company makes a new independent business by attempting to sell or distributing additional shares of its existing business. A spinoff is another term for a divestiture. A company creates a spinoff in the hope that it will be more valuable as an independent entity.
A spinoff is the formation of a new company from the sale or distribution of new shares of a parent company's existing business or division.
The spun-off businesses are obliged to be more valuable as separate entities than as parts of a larger corporation.
When a corporation spins off a business unit with its own management structure, it establishes it as an independent company under its own name.
Hence, Option A is an appropriate response.
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An externality is said to exist when: individual actions are affected by external forces like the loss of U.S. jobs because of competition from abroad. individuals impose costs or benefits on others, and the market provides incentives to take these costs and benefits into account. individuals impose costs or benefits on others but have no incentive to take these costs and benefits into account. individual actions are affected by government policies (such as taxes) that are externally imposed on the market.
Answer:
Individuals impose costs or benefits on others but have no incentive to take these costs and benefits into account.
Explanation:
An externality is considered as an incentive/benefit or cost that is received or incurred by a third party. Nevertheless, they may not have control over the product or services that led to benefits or costs.
It is important to understand that Externality can be positive or negative, however, most externalities are known to be negative. Positive externalities exist only when there are benefits on both the social level and the private level. For instance, Google-map product benefits the company through profits while it helps individuals as a GPS tool.
As mentioned earlier, negative externalities are more prevalent than positive externalities, it occurs when there is a gain or benefit on the private level but a disadvantage on a social level. A typical example is pollution. While companies benefit from the products manufactured from raw materials, the waste. if disposed of inappropriately, it may pose a great threat to the environment.
Therefore, an externality is said to exist when Individuals impose costs or benefits on others but have no incentive to take these costs and benefits into account.