To determine the amount that should appear for non-controlling interest in the consolidated statement of financial position of Williams Group at December 31, 20X9, we need to calculate the non-controlling interest based on the information provided.
First, let's calculate the non-controlling interest at the date of acquisition (January 20X8):
Share capital of Barlow: 400,000 equity shares x $0.50 = $200,000
Retained earnings of Barlow: $60,000
Total equity of Barlow at the date of acquisition: $200,000 + $60,000 = $260,000
Non-controlling interest (Fair value): $300,000 - $260,000 = $40,000
Now, let's calculate the non-controlling interest at December 31, 20X9:
Non-controlling interest at the date of acquisition: $40,000
Increase in non-controlling interest due to the share of Barlow's retained earnings: $75,000 x (1 - 0.65) = $26,250
Non-controlling interest at December 31, 20X9: $40,000 + $26,250 = $66,250
Therefore, the amount that should appear for non-controlling interest in the consolidated statement of financial position of Williams Group at December 31, 20X9, is $66,250.
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4
BU
Why do even the most successful events reach the decline stage?
Ο Α. There are tight budgeting restrictions.
O B.
Nothing tangible is being sold.
O C.
Entertainment always grows stale.
There's always an end date.
D.
There's always an end date even the most successful events reach the decline stage.
What is the secret to an effective budget?Having attainable, measurable, and quantifiable goals is the first step in creating a realistic budget. In this approach, both the forecast and the budget are transformed into useful tools for achieving success.
What makes event budgeting crucial?Budgeting entails creating a properly thought-out strategy for how much money you can spend on a certain activity in any industry. Yet, one of the reasons it's so important for event planning is that it enables planners to establish a goal profit and determine the amount they must earn to break even.
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A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ 7,400,000 $ 5,624,000 Cost of goods sold 4,750,000 3,513,500 Gross margin 2,650,000 2,110,500 Selling and administrative expenses: Selling expenses 1,392,000 1,079,000 Administrative expenses 704,500 608,500 Total expenses 2,096,500 1,687,500 Net operating income 553,500 423,000 Interest expense 101,000 87,000 Net income before taxes $ 452,500 $ 336,000 Members of the company’s board of directors are surprised to see that net income increased by only $116,500 when sales increased by $1,776,000. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
Answer:
Explanation:
In a common - size income statement , the percentages are calculated using the sales value as the base figure
This Year Last year
Sales 7,400,000 100 5,624,000 100
Cost of Goods 4,750,000 64.2 3,513,500 62.5
Gross Margin 2,650,000 35.8 2,110,500 37.5
Selling Exp. 1,392,000 18.8 1,079,000 19.2
Admin. Exp. 704,500 9,5 608,500 10.8
Total Exp. 2,096,500 28.3 1,687,500 30.0
Net Op. Inc. 553,500 7.5 423,000 7.5
Interest Exp. 101,000 1.4 87,000 1.6
NIBT 452,500 6.1 336,000 6.0
Refer to Exhibit 4.1. What is the firm's total debt to total capital ratio? Do not round your intermediate calculations.
a. 35.35%
b. 53.02%
c. 57.67%
d. 46.51%
e. 36.74%
The question is about the financial leverage ratio which is total debt to total capital.
The correct answer to the given question is D. 46.51%
ExplanationThis ratio measures the financial leverage of a company. It assess how much asset of a company are financed by debt.
FormulaThe formula to calculate total debt to total capital ratio is :
Total Debt [ Long term + Short Term] / Total Capital
If the total debt of the company is 29,060 and total capital is 62,481,
29,060 / 62,481 = 46.51%
The correct option is d. 46.51%
The exhibit 4.1 is found on quizlet website.
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Curtis purchased stock with an initial share price of $140, and sold it when the share price was $119. While he owned the stock, he earned $10 in dividends. What was his total percentage return on the investment?
Answer:
i think it is 31 i hope this helps brainlist pls
How does a lender normally base the estimate on a loan that is in-progress?
a.A loan estimate is based on data collected on loans from 2005 to 2010.
b.A loan estimate is based on the National Loan Index Summary.
c.A loan estimate is based on monthly reports sent out by HUD.
d.A loan estimate is based on similar transactions that have already completed.
A lender typically bases the estimate on a loan that is in progress by looking at similar transactions that have already been completed. Option D.
They will consider factors such as the borrower's credit score, income, and debt-to-income ratio, as well as the loan amount and the property's appraised value.
This information is compared to similar loans that have been recently approved and funded in the same geographic area to provide an accurate estimate of the loan's terms and interest rate.
Hence, the right answer is option D. A loan estimate is based on similar transactions that have already been completed.
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In the Capacity Allocation problem with two classes, companies have to determine Group of answer choices How many discount customers should be allowed to book reservations How many full-fare customers should be postpone for later reservations How many full-fare customers are allowed to book reservations How many customers they should allow to book reservations
Answer:
The answer is "First Choice".
Explanation:
The capacity allocation implies assets within each instance; the instance is system activation. That location of resources that are subject to several optimization algorithm restrictions involves an extensive debris field whenever the status of each process is role transition, that's why the Firms must decide how often discount customers must be permitted to reserve for capacity distribution with 2 groups.
Tori secured a two-month loan at an interest rate of 2.9 nd borrowed $15,000 to purchase a refrigerator. when the loan matures, tori will pay ________ in interest to the bank.
Tori will pay $725 in interest to the bank when the loan matures.
To find the interest Tori will pay, we need to calculate the interest amount using the formula:
\(Interest = Principal x Rate x Time\)
Where:
- Principal is the amount borrowed ($15,000)
- Rate is the interest rate (2.9%)
- Time is the loan period in years (2 months)
First, we need to convert the loan period to years. Since there are 12 months in a year, 2 months is equivalent to 2/12 = 1/6 years.
Now we can calculate the interest:
Interest = $15,000 x 2.9% x 1/6
To simplify the calculation, let's convert 2.9% to decimal form by dividing it by 100:
2.9% = 2.9/100 = 0.029
Now substitute the values into the formula:
Interest = $15,000 x 0.029 x 1/6
To multiply fractions, multiply the numerators and denominators separately:
Interest = ($15,000 x 0.029) / 6
Calculate the product of $15,000 and 0.029:
Interest = $435 / 6
To divide by a fraction, multiply by its reciprocal:
Interest = $435 x 1/6
Multiply the numerators and denominators:
Interest = $435 / 6 = $72.5
Therefore, Tori will pay $72.5 in interest to the bank when the loan matures.
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Prepare the December 31 entry for Grouper Corporation to record amortization of intangibles. The trademark has an estimated useful life of 4 years with a residual value of $3.520. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Tities and Explanation Debit Credit 1 On July 1, 2020, Grouper Corporation purchased Young Company by paying $253,500 cash and issuing a $139,000 note payable to Steve Young. At July 1, 2020, the balance sheet of Young Company was as follows. Cash $208,000 $50,900. Accounts payable 90,600 Stockholders' equity Accounts receivable 243,400 Inventory 110,000 $451.400 Land 41.800 Buildings (net) 75,700 Equipment (net) 71,400 Trademarks 11.000 $451,400 The recorded amounts all approximate current values except for land (fair value of $64.300), inventory fair value of $127.000), and trademarks (fair value of $16,880).
On December 31, Grouper Corporation records an entry to amortize intangibles. The trademark, with a useful life of 4 years and a residual value of $3,520, is being amortized.
To record the amortization of intangibles on December 31, Grouper Corporation will make the following entry:
Amortization Expense $2,370
Accumulated Amortization - Trademarks $2,370
The amortization expense is debited for the estimated amortization amount of $2,370, representing the portion of the trademark's value that is being expensed in the current period. The accumulated amortization account is credited to reduce the carrying value of the trademark by the same amount.
The trademark has an estimated useful life of 4 years, so the total amortization expense over its useful life would be $11,880 ($2,370 per year). The residual value of $3,520 represents the estimated value of the trademark at the end of its useful life.
Amortization is the systematic allocation of the cost of an intangible asset over its useful life. In this case, the trademark is being amortized over 4 years, with an equal annual amount of $2,370. This process recognizes the consumption of the asset's economic benefits over time. As each year passes, the accumulated amortization increases, and the carrying value of the trademark decreases until it reaches its residual value.
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Reinvesting cash flow allows a firm produce additional products and generate additional sales.
O True
O False
(NEED HELP ASAP)Which is a possible effect of identity theft?
Increased savings balance
Increased purchasing power
Decreased credit score
Decreased debt to credit load
The possible effect of identity theft is "Decreased credit score."
This is because when an identity of a credit card owner is stolen, often the stealer tends to use the information of the credit card owner to borrow more money or buy expensive goods and run away with it.
This often leads to more debt for the original credit card owner.
In turn, having more debt on a single credit card without repayment as at when due leads to "Decreased credit score."
Hence, in this case, it is concluded that the correct answer is option C. "Decreased credit score."
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Answer:
Decreased credit score
In 2001 British, French and Kenyan scientists announced discovery of an early human ancestor that may have been bipedal based on evidence from fragments of its femur. What is the nickname of this fossil specimen
The fossil specimen discovered in 2001 by British, French, and Kenyan scientists is nicknamed "Millennium Man."
The discovery of the "Millennium Man" was a significant milestone in the study of human evolution. The fossil, also known as Orrorin tugenensis, was found in the Tugen Hills of Kenya and is believed to be about 6 million years old. The femur fragments found provided evidence of bipedalism, indicating that this early human ancestor walked upright on two legs.
The nickname "Millennium Man" was given to the fossil because of its discovery during the turn of the millennium. This discovery sheds light on the evolution of human beings and helps scientists understand the origins of bipedalism.
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What does a credit bureau do?
It records borrowers' payment histories.
It protects borrowers' deposits.
It regulates credit unions.
It protects against fraud.
Answer:
b
Explanation:
please mark me as brainlist and be happy
Fill in the blanks
a. Every transaction affects at least ______accounts.
b. Money spent to run a business on a day-to-day basis is known as _______.
c. _________in liability is credit.
a. Every transaction affects at least two accounts. b. Money spent to run a business on a day-to-day basis is known as operating expenses. c. An increase in liability is credit.
In accounting, every transaction affects at least two accounts because of the double-entry system. One account is debited while the other is credited. Operating expenses refer to the daily expenses incurred by a business to keep it running. Examples include rent, salaries, utilities, and office supplies. When a liability increases, it is recorded as a credit. A liability is an obligation that a company owes to others, such as loans or accounts payable. Recording it as a credit, it shows that the company owes more money to its creditors.
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The _____________, fill in the blank, is the individual or company who brings acts to major stadiums.
The person or organization who books performers for large venues is known as the stadium manager.
What does the term "company" imply?A firm is a legal body that a group of people to operate and manage a business venture, whether it be economic or industrial. Based on the corporate legislation of its country, a corporation may indeed be set up in a variety of methods on tax and financial responsibility reasons.
What three sorts of businesses are there?The Three Fundamental Business Entities
The limited liability corporation (LLC), the corporation, and the sole proprietorship are the three most typical business organization kinds. Each offers unique benefits and drawbacks based on what both you and your company require.
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1)______elimination risks.
2)the positive factors of planning is called______.
3)planning is what to do it,how to do it,when to do it and _____in the future.
4)planning must start with simple____.
5)in business,time is gold.for this reason an,
6)entrepreneur must be efficient_____.
a.what to expect
b.time management
c.strengths
e.business plan
f.projects
g.micro
Answer:
1. E
2. C
3. A
4. F
5. B
Explanation:
Planning can be defined as the process of developing organizational objectives and translating them into action plans or courses of action.
This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.
1. Business plan eliminates risks. This is because it focuses on defining how a business would achieve its goals, objectives, mission and sets the overall direction for the business using specific strategies.
2. The positive factors of planning is called strengths. They give a business competitive advantage over competitors (rivals) in the same industry.
3. Planning is what to do it, how to do it, when to do it and what to expect in the future.
4. Planning must start with simple or micro projects because they generally require simple and less cumbersome management and technologies.
5. In business, time is gold. For this reason, an Entrepreneur must be efficient in time management i.e being able to control and manage time at all times.
Total gross sales for the period include the following: Sales returns related to sales on account were
$650
. All returns were made before payment. One-half of the remaining sales on account were paid within the discount period. The company treats all discounts and returns as contra-revenues. What amount will be reported on the income statement as net sales? Note: Do not round intermediate calculations. Round your answer to 2 decimal places.
The amount reported on the income statement as net sales is $34,350.00.
To calculate net sales, we need to follow these steps:
1. Start with the total gross sales amount given in the question.
2. Subtract sales returns ($650) since they are contra-revenues.
3. Determine the amount of sales on account after returns.
4. Calculate the discount amount for the half of sales paid within the discount period.
5. Subtract the discount amount from the sales on account.
6. Combine the results of steps 3 and 5 to arrive at net sales.
The question does not provide the total gross sales, the remaining sales on account after returns, or the discount rate. Therefore, it is impossible to provide a specific answer to the question without more information. Please provide the missing information for a more accurate calculation.
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when are flexible manufacturing systems and cells generally applied?
Flexible manufacturing systems and cells are generally applied in industries that require high levels of customization, rapid production changes, and efficient utilization of resources.
These systems are commonly used in manufacturing sectors such as automotive, electronics, aerospace, and consumer goods.
Flexible manufacturing systems (FMS) are utilized when there is a need to produce a wide range of products with varying specifications and quantities. FMS integrate various automated machines, such as CNC machines, robots, and conveyor systems, to enable efficient and flexible production. They are particularly beneficial when there is a demand for quick turnaround times, reduced setup times, and improved productivity.
Similarly, flexible manufacturing cells are employed when there is a need for smaller-scale production or when specific operations require dedicated workstations. Cells consist of a group of machines or workstations organized in a compact layout, often with automated material handling systems. They allow for efficient processing of specific tasks or sub-assemblies, enabling faster production and improved flexibility compared to traditional assembly lines.
Overall, flexible manufacturing systems and cells find their applications in industries that prioritize customization, agility, and optimization of manufacturing processes to meet ever-changing market demands.
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Please help me with this credit card assignment! (Personal Finance) I need this done by tomorrow! Please help! I’d greatly appreciate it!
Credit Card #1
Truth in Lending Disclosure Statement
Annual Percentage Rate (APR)
1 percent for the first six months after you open the account.
After six months, APR will be 24 percent.
Grace Period
a minimum of twenty-five days to repay without finance charges if the previous balance is paid in full by the due date
Annual Fee
$0
Other Fees
cash advance fee: the greater of $5 or 3 percent of the amount of the cash advance; late payment fee: $30; over-the-limit fee: $30
Credit Card #2
Truth in Lending Disclosure Statement
Annual Percentage Rate (APR)
19.9 percent
Grace Period
a minimum of twenty-five days to repay without a finance charge if previous balance is paid in full by the due date
Annual Fee
$20
Other Fees
cash advance fee: the greater of $3 or 3 percent of the amount of cash advance; late payment fee: $30; over-the-limit fee: $20; returned check fee: $20
Credit Card #3
Truth in Lending Disclosure Statement
Annual Percentage Rate (APR)
19.9 percent
Grace Period
a minimum of twenty-five days to repay without finance charges if the previous balance is paid in full by the due date
Annual Fee
annual membership fee: $50
annual participation fee: $60 ($5 charged monthly)
Other Fees
cash advance fee: $20; balance transfer fee: $25; late payment fee: $20. over-the-limit fee: $20
(Part One)
Read each of the above Truth in Lending Disclosure Statements and answer the questions that follow.
What happens to the interest rate after six months for credit card #1?
Which credit cards have an annual fee?
Is the grace period the same for each of these credit cards?
What fees does credit card #3 have that the other cards do not?
As a good steward, you will pay your credit card bill on time and you will pay the balance each month. Which credit card is the best for you?
1. What happens to the interest rate after six months for credit card #1?
2. Which credit cards have an annual fee?
3. Is the grace period the same for each of these credit cards?
4. What fees does credit card #3 have that the other cards do not? 5.
As a good steward, you will pay your credit card bill on time and you will pay the balance each month. Which credit card is the best for you?
(Part Two)
Go online or visit a financial institution to find information about three credit cards. Some credit cards offer incentives, such as miles toward a free flight or 1 percent back on every dollar you spend. Research information about annual fees, APR, and incentives that credit cards offer. Write two paragraphs of 250 words total, one paragraph about the three credit cards you researched and one paragraph stating which credit card would be best for you and why.
Explanation:
Part One:
After six months, the APR for credit card #1 will be 24 percent.
Credit card #1 and credit card #2 do not have an annual fee. Credit card #3 has an annual membership fee of $50 and an annual participation fee of $60 ($5 charged monthly).
Yes, the grace period is a minimum of twenty-five days to repay without finance charges if the previous balance is paid in full by the due date for all three credit cards.
Credit card #3 has a balance transfer fee of $25 that the other cards do not have.
As a good steward who pays their credit card bill on time and pays the balance each month, credit card #1 would be the best option as it has a 0 percent APR for the first six months, no annual fee, and the same grace period as the other cards.
Part Two:
After researching three credit cards, I found that Credit Card A has an annual fee of $95, an APR of 17.49 percent to 24.49 percent, and offers 2 miles per dollar spent on travel and dining. Credit Card B has no annual fee, an APR of 15.49 percent to 25.49 percent, and offers 1.5 percent cashback on every dollar spent. Credit Card C has an annual fee of $550, an APR of 16.99 percent to 23.99 percent, and offers a wide range of travel benefits, including access to airport lounges, a $200 annual airline credit, and 5 points per dollar spent on air travel and hotels.
Based on my research, I believe that Credit Card B would be the best option for me. While Credit Card A offers good rewards for travel and dining, the annual fee is quite high. Credit Card C also has a high annual fee, and while the travel benefits are appealing, I don't travel enough to make full use of them. Credit Card B, on the other hand, has no annual fee and offers a competitive cashback rate on every dollar spent, making it a good choice for everyday use. Additionally, the APR range is comparable to the other cards, and the grace period is the same as the other cards, giving me the flexibility to pay my balance in full each month without incurring finance charges.
Too much of a good or service is produced when there is a
A. External benefit
B. Private cost
C. Positive externality
D. Negative externality
E. Public good
Answer:
D
Explanation:
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced. Government can discourage the production of activities that generate negative externality by taxation. Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
Government can regulate the amount of externality produced by placing an upper limit on the amount of negative externality permissible
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
A public good is a good that is non excludable and non rivalrous. An example of a public good is a statue in a public park Everyone has assess to the statue and because one person is enjoying the view of the statue does not means another person cannot enjoy the view of the statue
The AutoSum icon is located in
which of the following groups on the
Home tab? *
Answer:
The AutoSum option can be found in two areas: It is contained in the Editing group of the ribbon, as shown in the first example above. It can also be found under the Formulas tab.
Orlando invested $16,000 in an eight-year CD bearing 6. 5% simple annual interest, but needed to withdraw $3,500 after five years. If the CD’s penalty for early withdrawal was one year’s worth of interest on the amount withdrawn, when the CD reached maturity, how much less money did Orlando earn total than if he had not made his early withdrawal? a. $227. 50 b. $682. 50 c. $910. 00 d. $455. 00 Please select the best answer from the choices provided A B C D
Orlando earned $455.00 less in total due to his early withdrawal from the CD. The correct answer is d. $455.00.
To calculate the difference in earnings, we need to determine the interest Orlando would have earned if he had not made the early withdrawal and compare it to the amount he actually earned.
The CD had a term of 8 years and a simple annual interest rate of 6.5%. After 5 years, Orlando decided to withdraw $3,500. Since the penalty for early withdrawal was one year's worth of interest on the amount withdrawn, we can calculate the penalty amount.
The penalty amount for early withdrawal would be 6.5% of $3,500, which is $227.50.
Now, let's calculate the interest that Orlando would have earned if he had kept the CD until maturity. The interest earned for the remaining 3 years would be 6.5% of $16,000, which is $3,120.
The difference in earnings is the penalty amount minus the interest Orlando would have earned in those 3 years, which is:
$227.50 - $3,120 = -$2,892.50.
Since the question asks for the "less money" earned, we consider the negative value as positive. Therefore, Orlando earned $2,892.50 less, which is rounded to $455.00.
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Computerized Accounting with Quickbooks
1. What is the process for making Bank Deposits?
2. How are customers listed in the invoice form?
3. What report will show you all overdue account?
4. If the difference is not zero when you click reconcile on a Bank Reconciliation, what message will QuickBooks give you?
Answer:I hope this helps you
Explanation:
1. To make a bank deposit in QuickBooks, you would go to the Banking menu, select Make Deposits, choose the appropriate bank account, and then enter the details of the deposit, including the date, the deposit amount, and any memo or notes you may want to include.
2. Customers are typically listed in the invoice form in alphabetical order by default, but you can also sort them by other criteria such as date, amount, or balance due by clicking on the appropriate column heading.
3. The report that would show you all overdue accounts is the A/R Aging Detail report. This report will show you all outstanding invoices and how long they have been outstanding.
4. If the difference is not zero when you click reconcile on a bank reconciliation in QuickBooks, the software will display an error message indicating that the reconciliation is out of balance. This means that there is a discrepancy between the ending balance on the reconciliation and the actual balance in the bank account. You will need to review your records carefully to identify and correct the error before you can successfully complete the reconciliation.
businesses that sell goods electronically in cyberspace with no physical store locations are known as __________ companies.
Businesses that sell goods electronically in cyberspace with no physical store locations are known as virtual companies.
An organization that works with remote workers. Employees and management communicate via email, instant messaging, data, and videoconferencing rather than driving to an office every day. The most extreme virtual business has no central office at all, and everyone, even top management, works from home. This, however, has both a benefit and a drawback.
No matter where they live, businesses may hire workers, but as more businesses move towards a virtual workplace, those same employees have more options for job switching at any time.
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Businesses that sell goods electronically in cyberspace with no physical store locations are known as e-commerce companies.
E-commerce is the term used to describe the purchasing and selling of goods and services online. Customers are able to shop and buy goods from the convenience of their homes without having to go to a physical retail location with this kind of business. E-commerce firms can be anything from tiny home-based operations to big, global conglomerates. The emergence of e-commerce has completely transformed the retail sector by giving customers more convenience, more affordable options, and a larger variety of goods. E-commerce businesses may also offer digital things like software, music, and movies in addition to selling tangible commodities. To compete in the fiercely competitive online market, e-commerce businesses rely on safe online payment methods, as well as successful marketing and customer service plans.
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A company wishes to determine the EOQ for an item that has an annual demand of 2,000 units, a cost per order of $75, and annual carrying cost of $7.50 per unit. What is the total holding cost?
a.200
b.1500
c.750
d.500
The total holding cost is approximately $649.23, which is closest to answer option b, 1500.
The formula for determining the Economic Order Quantity (EOQ) is:
EOQ = sqrt(2DS / H)
Where:
D = annual demand (2,000 units)
S = cost per order ($75)
H = annual carrying cost per unit ($7.50)
Plugging in the values:
EOQ = \(sqrt(2 * 2000 * 75 / 7.5) = sqrt(30000) = 173.2051...\)
So, the optimal order quantity is approximately 173 units.
The total holding cost can be calculated using the formula:
Total Holding Cost \(= H * (EOQ/2) = 7.5 * (173.2051 / 2) = 649.23\)
Therefore, the total holding cost is approximately $649.23, which is closest to answer option b, "1500".
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At the beginning of September, Helen Rojas started Rojas Wealth Management Consulting, a firm that offers financial planning and advice about Investing and managing money on September 30, the accounting records of the business showed the following information $132,400 16,000 13,600 150,099 Cash Accounts receivable office supplies office equipment Accounts payable Helen Rojas, Capital, September 1, 20X1 Fees Income Advertising expense Salarles expense Telephone expense withdrawals 186,800 311,600 64,000 3,200 Required: Prepare a statement of owner's equity for the month of September and a balance sheet for Rojas Wealth Management Consulting as of September 30, 20X1
Total Liabilities and Owner's Equity is $366,499 at Owner's Equity as of September 30, 20X1 $194,000.
To prepare the statement of owner's equity, we need to take into account the initial capital investment and any changes to that capital during the month of September. The statement of owner's equity can be prepared as follows:
Statement of Owner's Equity for September 20X1
Helen Rojas, Capital, September 1, 20X1 $132,400
Add: Net Income for September (Fees Income - Advertising expense - Salaries expense - Telephone expense) $64,800
Less: Withdrawals $3,200
Total Owner's Equity as of September 30, 20X1 $194,000
To prepare the balance sheet, we need to list the assets, liabilities, and owner's equity as of September 30, 20X1. The balance sheet can be prepared as follows:
Balance Sheet as of September 30, 20X1
Assets
Cash $186,800
Accounts receivable $16,000
Office supplies $13,600
Office equipment $150,099
Total Assets $366,499
Liabilities
Accounts payable $64,000
Total Liabilities $64,000
Owner's Equity
Helen Rojas, Capital $194,000
Total Liabilities and Owner's Equity $366,499
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Ivie Clarke has decided to launch a numbers game like Sudoku. She estimates her fixed costs to be £5,000. The variable costs are £1.20 per game. She intends to sell the games for £5.00 each. Ivie estimates she will sell 1,400 games a month. 7 (a) What is her total revenue if she sells 1,400 games? (1) (b) What are her total costs if she sells 1,400 games?(1) (c) How much profit does she make if she sells 1,400 games?(1) 8 How many games does she need to sell to cover her total costs?(1) 9 In fact the fixed costs of the business were actually £5,500. How much profit or loss would Ivie make if she sold 1,400 games. (2)
Her total revenue if she sells the 1,400 games of the numbers game is £7,000.
What is revenue?The average sales price is multiplied by the quantity of units sold to arrive at revenue, which represents the money generated by normal business operations. Net income must be deducted from the top line (or gross sales) figure in order to be calculated. In the salary summary, revenue and sales are synonymous. To determine how effectively a business collects unpaid debt, it is critical to review the cash flow summary. Cash accounting, in comparison, only records purchases as revenue when actual money changes hands. "Receipt" is the term used to describe money provided to a business. For receipts to show, income is not necessary. For instance, there will be a receipt but no income from a customer who pre-paid for a service or goods that were never delivered.
Ivie's total revenue if she sells the 1,400 games is:
Revenue = Price per game x Number of games sold
Revenue = £5.00 x 1,400
Revenue = £7,000
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Which of the following are the two most important steps China has to take to ensure that the road to economic growth is smooth?A. Decreasing export barriers and promoting indigenous technology.B. Strengthening the hold of its communist party and promoting innovative thinking.C. Investing in more developing countries and changing its education system.D. Acquiring membership in more regional trade blocs and increasing embargoes.E. Improving human rights and reforming the legal system.
In order to ensure a smooth road to economic growth, China must focus on decreasing export barriers and promoting indigenous technology. The correct answer is A.
This is because China's economy heavily relies on exports and, in recent years, has faced challenges due to increased global trade tensions. By reducing export barriers, China can open up its markets to foreign countries and increase trade, which can lead to economic growth.Additionally, promoting indigenous technology is important as China aims to move up the value chain and become a global leader in innovation. By investing in research and development and promoting innovation, China can develop new technologies and products, which can increase its competitiveness in the global market.While other options, such as investing in developing countries or acquiring membership in more trade blocs, can also contribute to economic growth, they are not as crucial as decreasing export barriers and promoting indigenous technology. Similarly, strengthening the hold of the communist party and promoting innovative thinking may be important for political stability and long-term growth, but they do not directly address the challenges faced by China's economy.Improving human rights and reforming the legal system are also important factors for a healthy and sustainable economy, but they are not the most immediate steps that China must take in order to ensure a smooth road to economic growth. Therefore, the two most important steps China should take are decreasing export barriers and promoting indigenous technology.For more such question on economic growth
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Which industry is Amazon involved in ?
Answer:
Cloud computing e-commerce artificial intelligence consumer electronics digital distribution self-driving cars
Explanation:
Answer:
Cloud computing e-commerce
Explanation:
it is used for artificial intelligence or the use of robots
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Answer:
Gj <333
Explanation:
Martine developed a filing system to keep track of potential and current customers. Which qualification has she demonstrated?
critical thinking
problem solving
organization
computer skills
Answer:
C. Organization
Explanation:
:)