Answer: $144,936
Explanation:
First start by removing the initial debt from the initial basis so as not to inflate the basis.
= 118,800 - 11,880
= $106,920
That is the Initial basis void of debt.
Then add anything that will increase the basis and remove anything that will reduce the basis. Income and debt generally increase the basis while dividends or cash Distributions reduce them.
The Ending basis is therefore,
= Pre debt Initial basis + Partnership Income + ending debt + Nontaxable income - Cash Distribution
= 106,920 + 47,520 + 17,820 + 2,376 - 29,700
= $144,936
Barnaby's basis at the end of the tax year is $144,936.
In November 2021, Simon pays $1,000 to take a course to improve his job skills to qualify for a new position at work. Simon's employer reimbursed him for the cost of the course. For 2021, Simon's lifetime learning credit is:
Based on the available information in the question, Simon's lifetime learning credit for 2021 is $0
What is Lifetime Learning Credit?Lifetime Learning Credit is a term that is used to describe the qualified schooling fee and applicable expenditures spent for qualified students fully admitted to an eligible educational establishment such as an institution.
Also, the Lifetime Learning Credit is known to be used by any of the undergraduate, graduate, and professional degree courses for payments of their tuition fees, comprising courses to obtain or enhance job skills.
Given that Simon's employer has reimbursed Simon for the cost of the course, it is concluded that Simon's lifetime learning credit for 2021 is $0.
Hence, in this case, it is deduced that the correct answer for lifetime learning credit is $0
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What is the best answer if a customer has a better price with the competition?
A customer informs that they have found a competitive provider who can offer service for less than what ADT currently offers.
What do you do?
Transfer the customer and have them speak further with account management.
Ask the customer for key features of the competitor and highlight how your offerings compare with overall value.
Explore the pricing differences with the customer and look for additional discounts that could be provided.
A customer informs that they have found a competitive provider who can offer service for less than what ADT currently offers, the best answer is to ask the customer for key features of the competitor and highlight how your offerings compare with overall value.
Thank the customer for their feedback and for considering ADT for their security needs.Ask the customer about the features and benefits that they are looking for in a security provider.Ask the customer to share details about the competitive provider's offerings, such as the price, contract terms, installation fees, equipment costs, etc.Listen carefully to the customer's needs and concerns.Explain the benefits of ADT's offerings and highlight the differences between the competitor's offerings and ADT's offerings.Emphasize ADT's strengths, such as the quality of the equipment, the expertise of the technicians, the responsiveness of the customer service team, the reliability of the monitoring service, and the range of features that are included in the package.If possible, offer the customer a special discount or promotion that would help to lower the overall cost of the service.Thank the customer again for their time and consideration, and let them know that you are available to answer any further questions they may have.For such more questions on customer
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Pilot plus Pens is deciding when to replace its old machine. The old machine’s current salvage value is $2 million. Its current book value is $1 million. If not sold, the old machine will require maintenance costs of $400,000 at the end of the year, for the next five years. Depreciation on the old machine is $200,000 per year. At the end of five years, the old machine will have salvage value of $200,000 and a book value of $0. A replacement machine costs $3 million now and requires maintenance costs of $500,000 at the end of each year during its economic life of five years. At the end of five years, the new machine will have a salvage value of $500,000. It will be fully depreciated by the straight-line method. In five years, a replacement machine will cost $3,500,000. Pilot will need to purchase this machine regardless of what the choice it makes today. The corporate tax rate is 34% and the appropriate discount rate is 12%. The company is assumed to earn sufficient revenues to generate tax shields from depreciation. Should Pilot Plus replace the old machine now or at the end of five years? no excel and financial calculator, so please show the answer by hand written and how u get to the numbers
The company should replace the machinery now as the NPV of old machine is very less as compared to new machine.
What do you mean by Salvage value?The estimated value of an item at the end of its useful life is known as salvage value.
Old machine Depreciation Cash flow PV of cash flow
0 2,200,000
1 (845,000) 112,000 (733,000) (678,704)
2 (845,000) 112,000 (733,000) (628,429)
3 (845,000) 112,000 (733,000) (581,879)
4 (845,000) 112,000 (733,000) (538,777)
5 (845,000) 112,000 120,000 (613,000) (417,197)
Total (2,844,986)
NPV (5,044,986)
\(Cash\ flow\ from\ depreciation = Depreciation * Tax rate\)
\(PV\ of\ cash\ flow = Cash\ flow / (1 + i )x^{n} , \\where\ is\ 8\% \\n\ is\ no.\ of\ year.\)
\(Capital\ gain\ tax\ on\ the\ sale\ for\ old\ machiner\y = Total\ salvage\ value\ of\ old\ machine\ - Book\ value\)\(Capital\ gain\ tax\ on\ the\ sale\ for\ old\ machinery = 2,200,000 - 1,400,000Capita\ gain\ tax\ on\ the\ sale\ for\ old\ machinery = $800,000\)
\(Capital\ gain\ tax = 40\% * Capital\ gain\ tax\ on\ the\ sale\ for\ old\ machineryCapital\ gain\ tax = 40\% * 800,000Capital\ gain\ tax = 0.40 * 800,000Capital\ gain\ tax = $320,000\)
\(Effective\ investment\ outlay\ = Cost\ of\ new \machinery - Actual\ cash\ inflow\ from\ sale\ of\ old\ machineryEffective\ investment\ outlay = 4,300,000 - 1,880,000Effective\ investment\ outlay = $2,420,000\)
Therefore, The company should replace the machinery now as the NPV of old machine is very less as compared to new machine.
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Marketing through social media is very popular today. You have seen how mobile technology has accelerated the use of social media for marketing.
Research at least three mobile marketing techniques and then write a report about a company that has used mobile marketing with success. Include the following points in your report:
Describe in detail the technique used in the mobile marketing campaign.
What was the campaign trying to achieve?
Who was the target audience? What techniques did the company use to broaden the audience base?
Describe the campaign process in detail.
What results did the campaign achieve?
How did mobile technology play a key role in the marketing campaign?
How did mobile technology enhance the campaign compared to traditional marketing methods?
Why do you think the campaign succeeded?
In what ways could the company have improved the campaign?
Answer:
Get Started
What is Mobile Marketing? (The Best Answer Ever!)
Both marketers and consumers begin their web services on mobile. Digital marketers in particular are excited to run mobile campaigns, because they know that mobile users are motivated buyers.
According to Salesforce, “68% of companies have integrated mobile marketing into their overall marketing strategy.”
The earlier you start reaching out to them, and solving their problems, the more results you will get in your business.
It’s no secret that building a successful online business has its challenges. One of such is knowing how to interact with potential customers on different platforms and devices.
Not only will you get the best results out of mobile, but a good understanding of how mobile marketing works will put you in total control of your marketing.
Let me get you started with a quick definition.
What is Mobile Marketing?
Andreas Kaplan defines mobile marketing as:
“Any marketing activity conducted through a ubiquitous network to which consumers are constantly connected using a personal mobile device.”
Wikipedia defines it as “marketing on or with a mobile device”.
Margaret Rouse defines it as:
“As a promotional activity designed for delivery to cell phones, smartphones, and other handheld devices, usually as a component of a multi-channel campaign.”
I define it as marketing for mobile users.
What-is-Mobile-Marketing??
Mobile phones are changing the way your target audience and customers engage with your brand. People visit your website on their phones, open your emails on smartphones, and buy from your store through their phones.
Putting your business right where your customers are – on the go – is what mobile marketing is all about. Any marketing plan today that ignores mobile marketing is a failed plan.
A Brief History of Mobile Marketing
The history of mobile marketing links back to the time when the first commercial mobile SMS and shortcodes were launched in 2003.
Pontiac and Nike were the first two brands that launched SMS campaigns in 2005. This was the time when both brands realized that mobile marketing is the future because people were crazy about mobile phones.
By 2007, there were 2.4 billion SMS users throughout the globe. Apple launched its first iPhone in the US and QR codes were incorporated into mobile marketing in 2010, which led to the beginning of a new era in marketing.
By 2011, mobile marketing was a $14 billion dollar global industry.
By 2013, Android and iOS had dominated the market and it’s the time when apps were becoming popular and smartphones were replacing traditional mobile phones.
By 2014, the number of mobile phone users exceeded the number of computer users and people were accessing the internet from their phones.
Today, 89% of mobile time is spent on apps while the remaining 11% is spent on websites. This is the number one reason why 71% marketers say that mobile marketing is core to their business, while 68% brands have integrated mobile marketing into their overall marketing strategy.
Brands that lack a mobile marketing strategy must rethink their marketing strategy, because all such brands are losing customers every second.
Explanation:
This will help u really much!!!!
If a savings account has a nominal interest rate of 2% and compounds quarterly, what is the effective annual interest rate?
Answer:
To calculate the effective annual interest rate (EAR) from a nominal interest rate with quarterly compounding, you can use the following formula:
EAR = (1 + (r/n))^n - 1
Where:
r is the nominal interest rate (expressed as a decimal), which is 2% in this case (0.02).
n is the number of compounding periods per year, which is 4 (quarterly compounding).
Plugging in the values, we have:
EAR = (1 + (0.02/4)) - 1
= (1 + 0.005) ⁴- 1
= (1.005) 1
≈ 0.0202
Therefore, the effective annual interest rate for a savings account with a nominal interest rate of 2% and quarterly compounding is approximately 2.02%.
Why is it important to stick to a study schedule even if you are caught up with everything? a It guarantees higher grades on your exams. b It helps to create good study habits. c It is time set aside so you can take a break from watching television. d It gives you more time to play your favorite game without interruption.
Answer:
Explanation:
B - It helps to create good study habits.
QUESTION 1 of 10: When buying an existing business, it is important to:
a) Find out why the business is for sale
b) Review existing financial statements
c) Both a) and b)
d) None of the above
Answer:
C
Explanation:
Consumer behavior is generally influenced by four elements. Whether or if your target customer purchases your goods depends on these considerations. They are social, psychological, personal, and cultural. Thus, option C is correct.
What is required to purchase an existing business?The examination of a business can be broken down into four clusters: the seller's background and motivations, any legal issues that may impact the operation.
The company's financial situation, and the company's standing and future prospects in its industry (its products, services, and future).
This is because an established business already has a proven track record of success. Higher chance of surviving, Numerous new businesses fail during their first few years of operation.
Therefore, Review existing financial statements and find out why the business is for sale.
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How can professional assist school leavers to be successful business owners
STUDY FIRST AND WORKING HARDLY
Fill in the blank: Using a(n) _____ keeps a record of any inconsistencies from the initial requirements of a project.
An issue log is simply known as a type of documentation element of software project management Using an issue log keeps a record of any inconsistencies from the initial requirements of a project.
The issue log is known to have a list of ongoing and closed issues concerning project.This type of logs can be seen as a way to track errors in any project.
It consist of name of the person who solve the problem, the date or time of the issue, the issue's priority and status and the date or time that the problem was resolved.
An issue log is also regarded as a simple list or spreadsheet that managers use to monitor the issues that arise in a project.
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What is one specific requirement of a negotiable instrument?
O A. It must involve an exchange of goods.
B. It must provide for a fixed amount of money.
O C. It must be agreed to orally.
O D. It must involve two parties who are friends.
Answer:
B
Explanation:
According to researchers, the ideal state for learning is feeling:
A) stressed and alert at the same time
B) relaxed
C) relaxed and alert at the same
time
D) stressed
Answer:
C) relaxed and alert at the same time
Hope this helps! 'v'
HW13. Suppose that you begin saving up to buy a car by depositing a certain amount at the end of each month in a savings account which pays 3.6% annual interest compounded monthly. If your goal is to have $15,000 in the account four and a half years from now, how much do you need to put into the savings account each month
Answer:
$256.31
Explanation:
Interest rate per annum = 3.6%
Number of years = 4.5
No of payment per annum = 12
Interest rate per period 3.6%/12 = 0.3%
Number of period = 4.5*12 = 54
FV of annuity = 15,000
Deposit in each month (P) = FVA / ([1+r)^n - 1]/r)
Deposit in each month (P) = 15,000 / ([1+0.3%]^54 - 1) / 0.3%)
Deposit in each month (P) = 15,000 / ([1.003^54 - 1]/0.003)
Deposit in each month (P) = 15,000 / (1.175575 - 1/0.003)
Deposit in each month (P) = 15,000 / (0.175575/0.003)
Deposit in each month (P) = 15,000 / 58.525
Deposit in each month (P) = 256.3007262
Deposit in each month (P) = $256.31
What are the choices made by households and firms that determine what, how, and for whom goods and services are produced? Where in the circular flow model, do these choices appear?
Answer:
What are the choices made by households and firms that determine what, how, and for whom goods and services are produced? Where in the circular flow model, do these choices appear?
Explanation:
The circular flow model depicts how families and enterprises, as well as the marketplaces for resources and products and services, interact with one other and with other groups of economic decision-makers.
What is circular flow of income?A model of the economy known as the circular flow of income or flow in which the primary exchanges are shown as flows of money, goods, and services, etc. between economic agents. In a closed circuit, the flows of money and items traded have values that are same but flow in the opposite direction. The circular flow analysis is the cornerstone of macroeconomics and national accounts.
Richard Cantillon's work already had the circular flow concept. In his so-called Tableau économique, François Quesnay elaborated and illustrated this idea.
The National Income and Product Accounts, for instance, use the concept of the circular flow of income to help better comprehend the economy as a whole (NIPAs).
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is it possible for a hospitality operation to be operating at a profit durany any given month but to simultaneously have insufficient cash flow during that same month
Answer:
Yes
Explanation:
Cash flow is defined as the available cash for business operation as a result of the difference between the cash available at the beginning of a period and the cash available at the end of that period ,
One major factor responsible for an insufficient cash flow is the bad timing of income and expenses. Imagine your bills are due and overdue customers invoices are not yet paid . It may also be that a lot is invested in the inventory while a little income is earned.
When more is being spent on investment compared to what is coming in , it can also lead to poor cash flow.
As an hospitality also engages in activities that could impact cash flow as mentioned above , it is possible it operates at profit and still have an insufficient cash flow.
At the Middle Earth Securities Exchange, stock prices of listed firms will either go up or go down each day. Each day:
If the effect of the debit portion of an adjusting entry is to increase the balance of an asset
account, which of the following describes the effect of the credit portion of the entry?
When the debit portion of an adjusting entry is used to increase the balance of an asset account, the credit portion of the entry will decrease the balance of another account, which will be either a liability account or an equity account.
What is the adjusting entry?Adjusting entries are journal entries that are made at the end of an accounting period to modify the accounts' balances. They are done to update and verify revenue and expense accounts' accuracy, as well as to adjust the balance sheet accounts for adjustments that have yet to be recorded.When should adjusting entries be made?Adjusting entries are typically made at the end of an accounting period. For example, adjusting entries may be needed if a company's insurance premiums have been paid in advance, or if a company has earned revenue but has not yet received payment.Adjusting entries are critical in determining the correct profit and loss as well as the balance sheet, which is why they must be accurate and complete.Adjusting entries are required for each financial statement's following types:Income Statement - revenue and expense accounts are adjusted.Balance Sheet - asset, liability, and equity accounts are adjusted.How are adjusting entries made?Adjusting entries are made with the following steps:Step 1: Determine the transaction or event that necessitates an adjustment. Step 2: Determine which accounts are affected by the transaction or event. Step 3: Decide whether each account is to be debited or credited. Step 4: Make the necessary adjusting journal entries.
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Is democracy a prerequisite for economic growth?
Answer:
The problematic debate of economic growth in the developing societies in 50s and 60s has been replaced by the aspiration of the new wave of democratization. Despite the dominant beliefs in the past decades, neither the achievement of political independence nor the practice of the market economy in these countries has resolved the problem of underdevelopment. Yet, many argue that democracy is a prerequisite of economic growth in these countries. Recent economic growths in a few authoritarian societies on one side, and the experiences of sustained democracy with below the average economic growth in other underdeveloped countries demonstrate that democracy alone is not the magic key to the long persisted underdevelopment. Democratization of society, however, through industrialization, economic growth, education, expansion of the middle class (not necessarily through a market economy) wo holds a demand for political participation, is a fundamental step toward a stable and authentic democracy. This can be achieved by the recognition of the new status of the developing societies as the potential competitors of the industrial world in the global market, and with the technical assistance and cooperation of the West.
Question Suppose you have $200,000 in a bank term account. You earn 5% interest per annum from this account. You anticipate that the inflation rate will be 4% during the year. However, the actual inflation rate for the year is 6%. Calculate the impact of inflation on the bank term deposit.
Answer:
Deposited amount will decrease by 1% and $2,000
Explanation:
Inflation rate will effect the value of money due to decrease in purchasing power of the currency holder.
We will use following formula to calculate the impact
Nominal rate = Real interest rate + Inflation rate
5% = Real interest rate + 6%
Real interest rate = 5% - 6% = -1%
The deposited amount will be decreased by 1%.
Deposit value = $200,000 x ( 1 - 1% ) = $198,000
Decrease in value = $200,000 - $198,000 = $2,000
CircuitTown commenced a gift card program in January 2021 and sold $10,000 of gift cards in January, $15,000 in February, and $16,000 in March of 2018 before discontinuing further gift card sales. During 2018, gift card redemptions were $6,000 for the January gift cards sold, $4,500 for the February cards, and $4,000 for the March cards. CircuitTown considers gift cards to be "broken" (not redeemable) 10 months after sale.
Required:
a. How much revenue will CircuitTown recognize with respect to January gift card sales during 2018?
b. Prepare journal entries to record the sale of January gift cards, redemption of gift cards (ignore sales tax), and breakage (expiration) of gift cards.
c. How much revenue will CircuitTown recognize with respect to March gift card sales during 2018?
d. What liability for deferred revenue associated with gift card sales would CircuitTown show as of December 31, 2018?
Answer and Explanation:
a. The computation of revenue is shown below:-
Revenue = Gift card redemption + Gift card breakage
= $6,000 + $4,000
= $10,000
b. The Journal entry is shown below:-
Cash Dr, $10,000
To Unearned Gift Card Revenue $10,000
(Being sale of the gift card is recorded)
2 Unearned Gift Card revenue Dr, $6,000
To Revenue - Gift Cards $6,000
(Being gift card redemption is recorded)
3. Unearned Gift Card revenue Dr, $4,000
To Revenue - Gift Cards $4,000
(Being gift card breakage is recorded)
c. The revenue is shown below:-
Only $4,000 will be recognized as revenue as it is the gift card redemption.
d. The computation of liability for deferred revenue is shown below:-
Liability for deferred revenue = $16,000 - $4,000
= $12,000
Explain the difference between what health insurance covers and what long term disability insurance covers
Answer:
In essence, health insurance benefits enable employees to seek needed medical care. Disability insurance replaces a portion of employee income when they can't work because of an illness or disability. For the most part, disability insurance will not replace all of someone's income.
Explanation:
The Long term disability insurance protects you during lengthy of disability when you’re unable to work (for example, if you are injured.) It is sometimes described as income replacement insurance, as it will pay you a monthly amount that replaces your regular paycheck while you are not working.
To make insurance more affordable and protect the insurance company from paying out too much in claims, insurers will pay an insurance premium.
These Insurance premiums are paid to cover for healthcare, automobiles, home, life etc. Insurance companies earn this premium but also represents a liability from which they are able to pay for claims made against insurance policies.
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5.6 Last month Quick Industries produced 900 units. This month they produced 1,264 units. What is the rate of change in production? a. 29.8% b. 32.8% c. 40.4% d. 60%
Answer: C. 40.4%
Explanation:
To find the rate of change in production, we can use the following formula:
Rate of change = (New value - Old value) / Old value * 100
Where,
Old value = Production of last month = 900
New value = Production of this month = 1264
Substituting the values in the formula,
Rate of change = (1264 - 900) / 900 * 100= 364 / 900 * 100= 0.404 * 100= 40.4%
Therefore, the rate of change in production is 40.4%, which is an option (c). I hope that this answer has helped you!
Answer:
The correct answer is C.
Explanation:
The rate of change in production is: (1264 - 900) / 900 = 0.404 or 40.4%. So, the correct answer is c. 40.4%
Which of the following markets is an example of monopolistic competition?
Answer: The restaurant industry
Explanation:
Answer:A new pizza shop promotes a unique new flavor of ice cream
The board of directors of Herbalife Nutrition approved a 2-for-1 stock split. After the split, how many shares of Herbalife stock will an investor have if he owned 1,020 shares before the split
If the board of directors of Herbalife Nutrition approved a 2-for-1 stock split. After the split, the number of shares of Herbalife stock will an investor have if he owned 1,020 shares before the split is:2,040 shares.
Using this formula to find the number of shares
Number of shares before the split = Number of shares owned × Stock split
Let plug in the formula
Number of shares before the split = 1,020 shares × 2/1
Number of shares before the split = 2,040 shares
Therefore we can conclude that the number of shares before the split is 2,040 shares.
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What should a person make sure to do when filling out an application?
O fill in hardest sections first
O list only addresses for reference
O use black pen
O turn it in immediately
When filling out an application, it's recommended to start by filling in the hardest sections first. This will insure that the most difficult parts are completed when you're fresh and focused, leaving you with further time and energy to complete the easier sections. Therefore option no 1 is correct.
The other options also considered as important so you also have to fill them carefully.
2. It's important to list all necessary information when giving references on an operation, including full names, job titles, and contact information. Listing only addresses would not be sufficient.
3. It's generally recommended to use a black pen when filling out an operation, as it's easier to read and overlook. Other colors can be delicate to read or may not scan easily.
4. While it's important to submit your application in a timely manner it's also important to take the time to precisely review it for delicacy and absoluteness before submitting.
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Approximately interest rate to the nearest whole percentage would you need to earn in order to turn $3500 into $7000 over 10 years?
Answer:
Explanation:
FV = PV(1+i)^n
Where:
PV = 3,500
FV = $7,000
n = 10
i = ?
Now putting values in the formula:
$7,000 = $3,500(1+i)^10
2 = (1+i)^10
1+i = 2^0.1
1+ i = 1.071773463
i = 0.071773463 = 7.177%
You’ve just read the article about Macy’s and Nordstrom’s. Why do you think companies like Macy's have to move to an Omnichannel strategy for selling their products?
The companies like Macy have to move to an Omnichannel strategy for selling their products because in Omnichannel strategy, products are sold through several distribution channels.
What is a distribution channels?Distribution channel serves as the means by which companies make their products to be available to final consumer.
This channels encompass retailers as well as wholesaler, and in In omni channel, all the distribution channels are linked to each other.
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3 Do you think this arrangement will have an effect on Peter's motivation? Motivate you answer. (10)
The specific arrangement and work environment can impact an individual's motivation. It is important to consider factors such as autonomy, challenge, and culture to ensure that individuals feel motivated and engaged in their work.
One factor that can impact motivation is autonomy. When individuals have more control over their work, they tend to feel more motivated and invested in the outcome. On the other hand, when individuals have less autonomy and are micromanaged, they may feel demotivated and disengaged.
Another factor is the level of challenge and complexity in the work. When individuals are given tasks that are too easy or too difficult, they may lose motivation or feel frustrated. However, when individuals are given challenging tasks that are within their skill level, they tend to feel more engaged and motivated.
Lastly, the work environment and culture can also impact motivation. When individuals work in a supportive and positive environment where their contributions are recognized and valued, they tend to feel more motivated and committed to their work.
In summary, the specific arrangement and work environment can impact an individual's motivation. It is important to consider factors such as autonomy, challenge, and culture to ensure that individuals feel motivated and engaged in their work.
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What is TRUE about credit unions?
OA. They are not insured by the government.
OB.
OO
C.
D.
They do not have any govemment regulations.
They only offer savings accounts.
They are owned by members.
The true about credit unions is they are owned by members. Credit unions are non profit organizations. The correct option (D).
What do you mean by the credit unions?A particular kind of financial cooperative that offers conventional banking services is a credit union.
Credit unions can be established by major firms, organizations, and other entities for their employees and members. They can range in size from small, volunteer-only operations to large organisations with thousands of participants across the country.
The fact that credit unions have significantly fewer physical facilities than the majority of banks can be a disadvantage for customers who prefer in-person assistance.
The earnings of credit unions are not subject to corporate income tax.
Therefore, the true about credit unions is they are owned by members. Credit unions are non profit organizations.
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Ronald is trying to pay down his student loan debt as quickly as possible, so he decides not to purchase disability insurance and uses that money toward debt repayment instead. Ronald has had a bad skiing accident, and doctors anticipate he won’t be able to work again for six to nine months. Can he enroll in short-term disability insurance tomorrow and file the claim? Why or why not?
Ronald can enroll in short-term disability insurance tomorrow and file the claim.
Short-term disability insurance is intended to cover you for a short period of time following an illness or injury that keeps you out of work. Given, that Ronald met an accident and doctors anticipated that he won't be able to work for six to nine months. He is eligible for the Short-term disability insurance because according to the rules of Short-term disability insurance average time to use its benefits is 3, 6 or 12 months, and Ronald comes under the same period.
Hence, Ronaldo is eligible for Short-term disability insurance and file claiming.
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Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard Quantity or Hours Standard Price or Rate Standard Cost Direct materials 4.6 pounds $ 2.50 per pound $ 11.50 Direct labor 0.2 hours $ 18.00 per hour $ 3.60 During the most recent month, the following activity was recorded: Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. All of the material purchased was used to produce 4,000 units of Zoom. 750 hours of direct labor time were recorded at a total labor cost of $14,925. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month.
The materials price variance is $3,000 favorable, the materials quantity variance is $4,000 unfavorable, the labor rate variance is $1,425 unfavorable, and the labor efficiency variance is $900 favorable.
The materials price variance is $3,000 favorable because the actual price of $2.35 per pound is lower than the standard price of $2.50 per pound. The materials quantity variance is $4,000 unfavorable because more material was used than the standard allowed.
The labor rate variance is $1,425 unfavorable because the actual rate of $19.90 per hour is higher than the standard rate of $18.00 per hour. The labor efficiency variance is $900 favorable because fewer hours were worked than the standard allowed.
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