equipment was acquired on january 1, 2024, for $15,000 with an estimated four-year life and $1,000 residual value. the company uses straight-line depreciation. which of the following entries would be used to record the sale of the equipment for $5,000 on december 31, 2026? multiple choice account title debit credit cash $ 5,000 equipment $ 3,500 gain $ 1,500 account title debit credit cash $ 5,000 accumulated depreciation $ 10,500 equipment $ 15,000 gain $ 500 account title debit credit cash $ 5,000 equipment $ 4,500 gain $ 500 account title debit credit cash $ 5,000 accumulated depreciation $ 7,000 loss $ 3,000 equipment $ 15,000
Answers
The correct entry to record the sale of the equipment for $5,000 on December 31, 2026, would be: Account title Debit Credit, Cash $5,000, Accumulated Depreciation $10,500, Equipment $15,000, Gain $500
To record the sale of the equipment, we need to account for the cash received, the accumulated depreciation, the original cost of the equipment, and any gain or loss on the sale.
Cash: Since the equipment is sold for $5,000, we debit the Cash account for $5,000 as it represents the amount received from the sale.
Accumulated Depreciation: Accumulated Depreciation represents the total depreciation expense recorded over the years. Since the equipment was purchased on January 1, 2024, and the sale occurs on December 31, 2026, three years of depreciation would have been recorded. The annual depreciation expense is calculated as (Cost - Residual Value) / Useful Life. In this case, it is ($15,000 - $1,000) / 4 = $3,500. Thus, the Accumulated Depreciation account is credited for $10,500 (3 years x $3,500).
Equipment: The Equipment account is debited for the original cost of the equipment, which is $15,000, to remove it from the books.
Gain: If the proceeds from the sale exceed the book value of the equipment, it results in a gain. In this case, the gain is $500 ($5,000 - $4,500). Therefore, the Gain account is credited for $500.
The appropriate entry to record the sale of the equipment for $5,000 on December 31, 2026, involves debiting Cash for $5,000, crediting Accumulated Depreciation for $10,500, debiting Equipment for $15,000, and crediting Gain for $500. This entry properly reflects the financial impact of the equipment sale.
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Related Questions
In the organizational structure, it is responsible for managing of income and expenses of a company.
Answers
Financial Controller is responsible for managing of income and expenses of a company.
Who is Financial Controller?Vital controllers additionally influence direction, anticipating, and planning at the organization level, in view of bookkeeping information.
The FC is a senior forerunner in the money group. Consequently, it's generally expected that employment forms show huge involvement with bookkeeping and assessment issues, in addition to the capacity to direct others and take responsibility for organization's books.
This requires more than just a gift for numbers. Controllers should be coordinated self-administrators, with the abilities to urge the more extensive organization to follow strategies and techniques.
Therefore it is the Financial controller who basically helps in managing the overall income.
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List the six areas of interest.
Answers
Answer:
Six areas of interest are: building,thinking,creating,holding, persuading and organizing.
Explanation:
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
which of the following best explains the data in the line graph? responses between 2012 and 2018, the economy did not grow enough to make economic issues a top priority. between 2012 and 2018, the economy did not grow enough to make economic issues a top priority. voters care more about jobs than the budget deficit because there has been an increase in unemployment between 2010 and 2018. voters care more about jobs than the budget deficit because there has been an increase in unemployment between 2010 and 2018. the economy is likely the most important issue because it is a broader category that is more open to individual interpretation than both jobs and the budget deficit. the economy is likely the most important issue because it is a broader category that is more open to individual interpretation than both jobs and the budget deficit. complex issues such as the budget deficit receive little attention in the media even though citizens care deeply about them.
Answers
The correct response is C. Because it is a more general topic and more subject to individual interpretation than either jobs or the budget deficit, the economy is probably the most crucial problem.
A community's resource allocation is ultimately determined by a collection of connected production and consumption processes collectively referred to as an economy. The whole production and consumption of goods and services satisfies the needs of the people who reside there and conduct business there. A well-known example of an economy is the traditional economy, which employs a nation's customs and history to guide the production and distribution of goods. A traditional economy's three primary pillars are agriculture, fishing, and hunting. Many people believe that economics is all about money when they hear the word "economics." Economics includes more than just money. It entails weighing a number of alternatives or options. Money is a factor in some of these important choices, but not all of them.
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Which of the following best explains the data in the line graph?
A. Between 2012 and 2018, the economy did not grow enough to make economic issues a top priority.
B. Voters care more about jobs than the budget deficit because there has been an increase in unemployment between 2010 and 2018.
C. The economy is likely the most important issue because it is a broader category that is more open to individual interpretation than both jobs and the budget deficit.
D. Complex issues such as the budget deficit receive little attention in the media even though citizens care deeply about them.
rooney services company has 70 employees, 31 of whom are assigned to division a and 39 to division b. rooney incurred $420,700 of fringe benefits cost during year 2. required determine the amount of the fringe benefits cost to be allocated to division a and to division b.
Answers
A cost of $6010 per employee B a cost of $163310 $234390. Fringe benefits are any non-wage payments or benefits offered by employers to members of staff, such as public pensions, income schemes, overtime pay off.
including existence, medical, and income support training programmes.
Given that, the cost of perks and benefits over two years was $420,700, and 31 workers worked in division A.
39 personnel are employed in division B.
(a) Allocation rate: = Total cost to be assigned Cost driver = $420,700 70 = $6010 per employee.
(b) The cost allocated to A is calculated as follows: Division Allocation Rate Weight of Base (Number of Employees) = $ 6010 31 = $186310.
Cost allocated to B is calculated as follows: Division Allocation Rate Weight of Base (Number of Employees) = $6010 39 = $234390.
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bzzagent mini case: bzzagent is a word-of-mouth marketing agency that runs brand advocate programs for global brands. it recently partnered with a company to pair its social media and word-of-mouth insights with shopper loyalty data. the results indicated that consumers who were making repeat purchases were also more engaged and created a higher volume of advocacy. the information from this study is important to marketers, who are trying to find ways to engage advocates and influencers, especially via social media. marketers are trying to figure out the characteristics of individuals who are most likely to influence others. in the bzzagent mini case, marketers are interested in finding individuals who influence others. the process by which one influential person informally influences the actions or attitudes of others is known as . question 28 options: a) referencing b) opinion leadership c) blogging d) positioning e) targeting
Answers
Marketers are searching for people who have sway over others in the BZZAGENT MINI CASE. Opinion leadership is the method by which one powerful individual subtly shapes the behaviors or attitudes of others.
The act of interpreting media messages or content for less sophisticated media users is known as opinion leadership. Usually, individuals who agree with opinion leaders hold them in high regard. The two-step communication flow idea put forward by Paul Lazarsfeld and Elihu Katz is where opinion leadership originates. Robert K. Merton, C. Wright Mills, and Bernard Berelson were significant contributors to the development of the opinion leader concept. The diffusion of innovations, concepts, or commercial goods is attempted to be explained by a number of models, some of which include this hypothesis.
Because we frequently ask for advice from others in a social setting, opinion leaders play a crucial part in information flow. The target audiences do not directly receive information from the media.
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(d) Explain how the sampling methods four non-probability sampling methods:
Quota Sampling, Judgmental Sampling, Snowball Sampling, and Convenience Sampling
may be used in business administration.
You are expected to make use of short real-life examples to support your answer with appropriate referencing.
Answers
Non-probability sampling techniques are essential for data collection when population-based selection is not possible. Four of these techniques, include Quota Sampling, Judgmental Sampling, Snowball Sampling, and Convenience Sampling
Sampling is a critical tool that is widely used in business administration. Non-probability sampling techniques, on the other hand, are essential for data collection when population-based selection is not possible. Four of these techniques, including Quota Sampling, Judgmental Sampling, Snowball Sampling, and Convenience Sampling, are discussed below.
Quota Sampling: Quota sampling is a non-probability sampling technique that is widely used in market research. This method requires the population to be divided into segments or strata based on different demographic criteria, such as age, sex, and race. In this technique, the researcher defines the sample size for each stratum. For instance, if we want to survey customers for a product, we can divide them into segments like age, gender, and income and take an equal number of samples from each group. It helps to ensure that the sample is representative of the population.
Judgmental Sampling: Judgmental sampling is a non-probability sampling technique that is used when the researcher has a wealth of knowledge about the study population. The researcher uses his or her judgment to identify specific individuals or groups that are likely to have the necessary information. For example, if we want to study the work habits of employees in a company, we can use the supervisor's judgment to select employees who are most likely to provide accurate and relevant information.
Snowball Sampling: Snowball sampling is a non-probability sampling technique used in situations where the population is difficult to reach or identify. It is usually used for research on hard-to-reach populations such as drug users, prostitutes, and undocumented immigrants. In snowball sampling, the researcher starts with one participant and then asks that person to identify other participants who can also participate in the study. It helps to expand the sample size and can often yield a more representative sample.
Convenience Sampling: Convenience sampling is a non-probability sampling technique that is often used in research when the researcher selects participants based on convenience or proximity. It is used when the population is readily available and easy to access. For example, if we want to study the shopping habits of a particular group, we can go to a shopping mall and survey the first 100 people who pass by. It is a quick and easy way to gather data that can provide insights into the research question.
Non-profitability in Sampling Methods: Most of the non-probability sampling methods are less reliable than probability sampling methods. Non-probability sampling methods have a high risk of bias. For example, in quota sampling, the researcher can over-represent a particular group if he or she has some bias. Similarly, in judgmental sampling, the researcher can choose the sample that confirms his or her hypothesis. Therefore, researchers should use non-probability sampling methods with caution and understand their limitations while conducting the research.
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ABC Manufacturing has the following Aggregate Plan demand requirements and other data for the upcoming four quarters.
Quarter
Demand
Previous quarter's output
1500 units
1
1300
Beginning inventory
200 units
2
1400
Stockout cost
$50 per unit
3
1500
Inventory holding cost
$10 per unit at end of quarter
4
1300
Hiring workers
$4 per unit
Laying off workers
$8 per unit
Unit cost
$30 per unit
Overtime
$10 extra per unit
By utilizing the aggregate planning excel sheet, answer the following:
a. Plan A - Chase demand by hiring and laying off. What is the total cost of the plan? 165400 IS INCORRECT
b. Plan B - Mixed strategy producing at a constant rate of 1200 and obtaining the remainder from Overtime. What is the cost of this plan?
c. Based on cost, what plan should be chosen?
Answers
a. The total cost of Plan A - Chase demand by hiring and laying off is $199200.
b. The cost of Plan B - Mixed strategy producing at a constant rate of 1200 and obtaining the remainder from Overtime is $37000.
c. Based on cost, Plan B should be chosen as it has a lower total cost of $37000 compared to Plan A's total cost of $199200.
a. Plan A - Chase demand by hiring and laying off:
To apply this aggregate planning, we need to calculate the demand requirements for each quarter and then calculate the number of workers needed to fulfill that demand. We can use the following formula to calculate the number of workers needed
Workers = (Demand - Previous quarter's output + Beginning inventory) / Production per worker
Using this formula, we can calculate the following table
Quarter 1
Workers = (1500 - 0 + 200) / 1 = 1700
Hiring cost = 1700 * $4 = $6800
Production cost = 1500 * $30 = $45000
Total cost = $6800 + $45000 = $51800
Quarter 2
Workers = (1300 - 1500 + 200) / 1 = 0
Laying off cost = 1700 * $8 = $13600
Production cost = 1300 * $30 = $39000
Total cost = $13600 + $39000 = $52600
Quarter 3
Workers = (1500 - 1300 + 0) / 1 = 200
Hiring cost = 200 * $4 = $800
Production cost = 1500 * $30 = $45000
Total cost = $800 + $45000 = $45800
Quarter 4
Workers = (1300 - 1500 + 0) / 1 = -200
Laying off cost = 0 * $8 = $0
Production cost = 1300 * $30 = $39000
Stockout cost = 200 * $50 = $10000
Total cost = $10000 + $39000 = $49000
Therefore, the total cost of Plan A is $51800 + $52600 + $45800 + $49000 = $199200.
b. Plan B - Mixed strategy producing at a constant rate of 1200 and obtaining the remainder from Overtime
To apply this plan, we need to calculate the demand requirements for each quarter and then calculate the production for each quarter. We can use the following table to calculate the production
Quarter Demand Production
1 1500 1500
2 1300 1200 + 100 = 1300
3 1500 1200 + 300 = 1500
4 1300 1200 + 100 = 1300
The cost of producing at a constant rate of 1200 units is
Production cost = 1200 * $30 = $36000
The cost of obtaining the remainder from overtime is
Overtime cost = 100 * $10 + 200 * $0 = $1000
Therefore, the total cost of Plan B is $36000 + $1000 = $37000.
c. Based on cost, Plan B should be chosen because it has a lower total cost of $37000 compared to Plan A's total cost of $199200.
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what are the barriers in communication?
Review the following scenario, which describes a situation between two coworkers, and respond to the questions which follow applying your learnings from this course. Jenna is a Health Care Assistant w
Answers
Barriers in communication refer to factors or obstacles that hinder effective and efficient exchange of information between individuals. These barriers can occur at various levels.
Including interpersonal, organizational, cultural, and technological. Some common barriers in communication include:
1. Language Barriers: Differences in language or dialects can impede understanding between individuals who do not share a common language.
2. Lack of Clarity: Unclear or ambiguous messages, use of technical jargon, or complex terminology can lead to misunderstandings and misinterpretations.
3. Noise: Environmental factors such as background noise, distractions, or poor audio quality can disrupt communication and make it difficult to convey or receive messages accurately.
4. Emotional Barriers: Emotional states like anger, stress, or fear can affect communication by causing individuals to become defensive, unresponsive, or unable to articulate their thoughts effectively.
5. Cultural Differences: Diverse cultural backgrounds, beliefs, values, and communication norms can create barriers in understanding and interpreting messages accurately.
In the given scenario between Jenna, a Health Care Assistant, and her coworker, the barriers to effective communication may include any of the above factors, such as language barriers (if they have different native languages), lack of clarity in conveying information, noise in the healthcare setting, emotional barriers due to stress or pressure, or even cultural differences impacting their communication styles and understanding.
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Which aspect of Darron's career matches his lifestyle but is also in conflict with some of his desires? busyness while at work earning money frequent travel strong competition
Answers
Answer:
frequent travel
Explanation:
Since in the question it is mentioned that Darron loves his carrier as it fits with his lifestyle. He knows how to make a money and how to keep busy also he loves travelling plus he wish that he could spend more time with his family members
So here the frequent travel fits in the given situation as he loves travelling so he travel frequently
Therefore the same is considered
Answer:
its travel
Explanation:
State two ways in which trade unions could assist workers in addressing non compliance with working conditions
Answers
Ways in which change unions should assist workers in addressing noncompliance with operating conditions are the standard sports of alternate unions consist of supplying assistance and services to their contributors, collectively bargaining for better pay and conditions for all people, and running to enhance the excellent of public offerings, political campaigning, and commercial movement.
The definition of a worker is someone or animal that performs a particular or essential project or who completes duties in a certain way. someone who works in a store is an instance a retail employee. someone who works diligently on his homework for hours a day is an instance of a tough employee.
A person is normally classed as a 'worker' if: they have a contract or other association to do work or offerings personally for praise (a contract may be written or unwritten) their reward is for money or an advantage in type, for example the promise of a settlement or future paintings.
Workers are the people employed by using a selected organization or company. Manpower is all the employees available to paint for a business enterprise or USA. A colleague or co-employee is a person you figure with, mainly in the workplace.
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in terms of packaging functions, tiffany & co.'s robin egg blue boxes ________.
Answers
In terms of packaging functions, Tiffany & Co.'s robin egg blue boxes serve as a powerful branding tool for the luxury jewelry brand. The iconic color and design of the box instantly evoke the image of Tiffany & Co. and its signature style. Additionally, the sturdy and elegant construction of the box ensures that the jewelry inside is well-protected and presented in a beautiful way.
This enhances the overall customer experience and adds to the perceived value of the product. The boxes also serve as a status symbol and can be reused or repurposed, further reinforcing the brand's sustainability and luxury appeal.
Overall, Tiffany & Co.'s robin egg blue boxes are a prime example of packaging that effectively combines functionality with branding and aesthetic appeal.
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what is food protection course ?
Answers
The Food Protection Course, also known as the Food Handler's Course or Food Safety Course, is a training program designed to educate food service workers about safe food handling practices.
The course is typically required by state or local health departments in the United States for food service workers to obtain a food handler's permit or certification.
The Food Protection Course covers a range of topics, such as personal hygiene, cross-contamination, foodborne illness, time and temperature control, and cleaning and sanitizing. The training provides workers with the knowledge and skills they need to prepare, store, and serve food safely and prevent foodborne illness.
The course may be delivered in person or online and typically includes a final exam. Upon successful completion, participants receive a food handler's permit or certificate, which is valid for a specified period of time, typically 2-5 years.
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Countries rely on each other for good and services, this is called economic
A
balance of trade
B
interdependence
с
international trade
D
quota
Answers
Answer:
B. interdependence
Explanation:
Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.
Economic integration can be defined as a strategic trade arrangement between countries to eliminate or mitigate trade barriers, as well as coordinate fiscal and monetary policy among its members.
There are different types of market or trade bloc used in economic integration and these includes;
I. Customs union
II. Free trade area
III. Common market
IV. Political union
VI. Economic union
A free trade area (zone) can be defined as an economic area wherein goods are exported or imported from one country to another without being subjected to normal trade laws such as quotas, bureaucratic requirements and tariffs of the country. Thus, a free trade area (zone) stimulates or enhances foreign trade, investment and globalization.
Hence, when countries rely on each other for good and services, this is called economic interdependence.
Economic interdependence can be defined as a situation in which two or more individuals, organizations or countries depend on one another through the exchange of goods and services, in order to meet their demands or needs.
Efficiency means our economic pie is divided into equal slices. True or False?
Answers
Efficiency refers to how much use society makes of its limited resources. When rewards are spread equally across society's members, it is said to be equality. Alternatively put
Is The Limited still in business?
Between the early 1960s until the late 2010s, the American clothing chain The Limited operated retail locations. It was a brand after 2007 and was formerly held by the private equity company Sun Capital Partners; it is currently owned by Sycamore Partners. The Limited closed all 250 of its locations in January 2017, let go 4,000 employees, and declared bankruptcy.Only the three members of Harry and Bella's family and a close acquaintance made up the original board.
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in the aggregate demand/aggregate supply model, a country's full-employment real gdp is represented by: a) prices b)aggregate demand c)aggregate supply d) an increase in the general level of prices
Answers
The correct option is c) In the aggregate demand/aggregate supply model, a country's full-employment real GDP is represented by aggregate supply.
Aggregate supply represents the total quantity of goods and services that firms are willing and able to supply at a given price level. At full employment, all available resources are being utilized, and the economy is operating at its potential output. Therefore, any increase in aggregate demand would lead to an increase in prices rather than output, as firms are unable to produce any more goods and services due to a lack of available resources. On the other hand, a decrease in aggregate demand would lead to a decrease in both prices and output, as firms are unable to sell all of their produced goods and services. Therefore, aggregate supply is the key determinant of a country's full-employment real GDP in the aggregate demand/aggregate supply model.
In summary, in the aggregate demand/aggregate supply model, a country's full-employment real GDP is represented by aggregate supply, as it represents the total quantity of goods and services that firms are willing and able to supply at a given price level.
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The substitution effect of a change in the price of bananas refers to the way in which a change in the:______.
Answers
The substitution effect of a change in the price of bananas refers to the way in which a change in the price of a substitute affects the demand for bananas.
What is change in the price?
The difference between an asset's original and final values is known as the price change. It might be detrimental or beneficial. Investor choices are influenced by price movements. Investor confidence will be high for a financial instrument that exhibits a steady price increase over time.
Therefore,
The substitution effect of a change in the price of bananas refers to the way in which a change in the price of a substitute affects the demand for bananas.
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Which of the following scenarios reflects a transactional approach to leadership?a. Wayne Torres believes that setting targets, monitoring employee performance, and correcting defaulting employees are his tried and tested ways to accomplish tasks. He rewards employees who do well and match his predetermined expectations and recognizes accomplishments that he values. His team, however, has not grown substantially and seems to be at a functional status quo. b. When new projects come, it is a time of excitement for the content production team of Impact, an advertising agency. Lori Wood, the department head, begins a project meeting by having her whole team envision what the final product of this campaign must aim at. She then sets progressively higher standards for the team and clarifies what each member of the team stands to gain if the project is a success. In allocating roles and tasks, she often incorporates the needs and preferences of her team. members. c. Glenn Cruzz works at Leverage as a senior consultant. She ensures that her team of consultants has a framework of flexible tools and skills to help clients who come their way with diversity and inclusion issues. Through audits, research, and workshops, her team is encouraged to come up with unconventional solutions that help clients establish and leverage its employee diversity. d. Samuel Perez has been running a small automobile service agency with a set of employees that he hired and trained over a decade ago. Though the business is mediocre and profit margins are not substantial, the employees work well as a team because each of them treats the other as equal, just like Samuel himself does. e. Carol Turner began V Care, a non-profit organization, with the purpose of battling various forms of abuse. As the organization grew, she took care to hire employees who felt the same kind of sensitivity she felt for victims of abuse. Today, she openly proclaims that the organization that she started is successful because every single employee shares and understands what the organization is aiming for.
Answers
The scenario that reflects a transactional approach to leadership is option A. Wayne Torres believes in setting targets, monitoring employee performance, and correcting defaulting employees to accomplish tasks. He rewards employees who meet his predetermined expectations and recognizes accomplishments that he values.
This approach to leadership focuses on exchanging rewards and punishments for performance and is based on the assumption that people are primarily motivated by self-interest. The other scenarios, on the other hand, reflect transformational leadership, which focuses on inspiring and empowering employees to achieve their full potential and work towards a common goal.
Wayne Torres is focused on setting clear targets and expectations for his employees and monitoring their performance to ensure that they are meeting those targets. He believes in rewarding employees who perform well and correcting those who are not meeting his expectations. This approach is transactional because it is based on a system of rewards and punishments, where employees are motivated to perform based on the incentives offered by the leader.
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Why is it hard to predict positive Moments of Reality (MORs)? A. Because they are negatively influenced by lifetime customer value. B. Because they differ by customer, and by time of year. C. Because most companies use moments of truth, which are in conflict with Moments of Reality. D.Because it is difficult to tell if a Moment of Reality is negative or positive.
Answers
Answer:
B. Because they differ by customer, and by time of year.
Explanation:
Moments of reality are hard to predict as it varies from customer to customer. All customers have different values and they rate a product or service according to their own values. Moments of reality can be positive or negative and they are influenced by customer experience.
PLEASE HELP WILL MARK BRAINLIEST
Answers
Answer:
the answer is true
Explanation:
Select the word or phrase that accurately completes each sentence.
Pressing the Backspace key will delete the text on the .
Pressing the Delete key will delete the text on the .
Answers
Answer:
Pressing the backspace key will delete the text on the leftPressing the delete key will delete the text on the rightExplanation:
what time do they stop selling mega million tickets
Answers
The cutoff time for purchasing Mega Millions of tickets varies by state. Generally, ticket sales close at 10:45 pm ET the night of the drawing.
However, some states cut off sales earlier. For example, in California and Idaho, ticket sales close at 7:45 pm PT, while in Georgia, Michigan, and Virginia, ticket sales close at 10:00 pm ET.
It’s important to remember that the cutoff time for purchasing tickets is determined by the time zone of the state in which you are located. For example, if you are in Indiana, which is in the Eastern time zone, the cutoff time for purchasing tickets would be 10:45 pm ET. So, it’s important to check the cutoff time for your state before attempting to purchase a ticket.
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which ratio would necessitate the fdic taking receivership of a di within 90 days if certain conditions are not met?
Answers
The ratio that would necessitate the FDIC taking receivership of a bank within 90 days if certain conditions are not met is the tangible equity to total assets ratio.
This ratio indicates the amount of a bank's assets that are owned outright by its shareholders, providing a measure of the bank's ability to withstand losses. If this ratio falls below 2%, the FDIC may take action to protect depositors' funds by placing the bank into receivership. This action is necessary to prevent the bank from failing and potentially causing a ripple effect throughout the banking system.
The FDIC has the authority to take control of a bank and liquidate its assets in order to pay off depositors and creditors. This is a last resort action, taken only when all other options for saving the bank have been exhausted.
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If you wish to accumulate \( \$ 232,000 \) in 7 years, how much must you deposit today in an account that pays an annual interest rate of \( 9 \% \) ? \[ \begin{array}{l} \$ 101,529.56 \\ \$ 126,911.9
Answers
To calculate the amount you must deposit today to accumulate $232,000 in 7 years, we can use the formula for future value of a present sum:
Future Value = Present Value * (1 + Interest Rate)^Number of Periods
Rearranging the formula to solve for Present Value:
Present Value = Future Value / (1 + Interest Rate)^Number of Periods
Future Value = $232,000
Interest Rate = 9% (0.09)
Number of Periods = 7 years
Calculating the present value:
Present Value = $232,000 / (1 + 0.09)^7
Present Value = $232,000 / (1.09)^7
Present Value = $232,000 / 1.718685624
Present Value ≈ $135,026.68
Therefore, the amount you must deposit today in an account that pays an annual interest rate of 9% to accumulate $232,000 in 7 years is approximately $135,026.68.
The correct option is:
$101,529.56
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what is business and what is occupation
Answers
Answer:
Business:
A person's regular occupation, profession, or trade.
Occupation:
A job or profession.
Explanation:
I looked them up in a dictionary.
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What action, if any, can be taken, when a sailor refuses to sign his performance evaluation?
Answers
Submit a NAVPERS 1070/613 witness by the reporting senior is the action, can be taken, when a sailor refuses to sign his performance evaluation
What is NAVPERS?Navy Personnel (NAVPERS). All rights reserved, 1988-2018 Acronym Finder.com.NAVPERS 1070/615 Honorable Discharge from the us Navy Reserve is done for the honorable discharge of an enlisted member on inactive duty due to enlistment expiration or obligated service expiration.
Your ESR Honors and Awards page is printed and submitted to your OMPF on your daily basis as form NAVPERS 1070/880.
Forms for the Navy Personnel Command. a web reference library of Navy personnel command forms is provided (NAVPERS and NAVPERSCOM). On the official forms website of BUPERS/NAVPERSCOM, you'll find links to many federal government and Navy related forms used today, like DD-214 and military personnel record requests.
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if the price level last year was 180 and this year it is 176, then what was the inflation rate?
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The economy's general price increase over time is referred to as the inflation rate. The percentage of the consumer price index (CPI) that is used to measure the standard of living is used to calculate inflation.
Trading Economics' global macro models and analyst expectations indicate that the United States' inflation rate will reach 7.40 percent by the end of this quarter. Our econometric models predict that the US Inflation Rate will be around 1.90 percent in 2023 over the long term.
What is the inflation rate in India in 2022?In October 2022, retail inflation in the nation, which is tracked by the Consumer Price Index (CPI), fell to a three-month low of 6.77 percent. In September, the CPI was 7.41%, and in August 2022, it was 7%.The wholesale price index (WPI)-based inflation provisional data decreased to 8.39% from 10.7% the month before.
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how much would you have in 7 years if you purchased a $1,000 7-year savings certificate that paid 4% compounded quarterly? (round your answer to the nearest cent.)
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If you invested $1,000 in a 7-year savings certificate that paid 4% compounded weekly, you would have in 7 years .compound interest = 1000.
To solve this, we will apply the compound interest formula
A=P(1+r/n)°nt
Where
A = the amount of money realized
P = the principal sum of money = $1,000
r = interest rate = 4%
n = number of times compounded = 4, since it is quarterly
t = time = 7 years.
A=1,000(1+4%/7)°7*4=1000
In the fields of finance and economics, interest is the payment of a sum over and above the principal amount owed at a specific rate by a borrower or deposit-taking financial institution to a lender or depositor. It is not the same as a fee that the borrower might pay to the lender or another entity. Additionally, it differs from a dividend, which is a payment made to shareholders from a company's profit or reserve, but not at a set rate predetermined in advance, but rather on a pro rata basis as a portion of the rewards received by risk-taking business owners when revenue earned exceeds all costs.
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Dernea Gardening sells wheelbarrows. A wheelbarrow costs $6. 94 to produce and it sells for $42. 50. The company employs two salespeople, each of whom earns a different commission per wheelbarrow sold, as shown in the table below. A 3-column table with 2 rows. Column 1 is labeled Salesperson with entries Travis, Gary. Column 2 is labeled Sold with entries 36, 48. Column 3 is labeled Commission/Sale with entries 7 dollars and 50 cents, 10 dollars and 60 cents. The company's expenses last month, not counting production costs or commissions, totaled $524. 24. How much profit did Dernea Gardening make from the sales of wheelbarrows last month? a. $3,570 b. $1,886 c. $1,684 d. $2,208.
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Dernea Gardening made a profit of $1,683 from the sales of wheelbarrows last month.
Dernea Gardening sold 84 wheelbarrows at a selling price of $42.50 each. The production cost of the wheelbarrows was $582.96. Travis, one of the salespeople, sold 36 wheelbarrows and earned a commission of $7.50 per sale, totaling $270. Gary, the other salesperson, sold 48 wheelbarrows and earned a commission of $10.60 per sale, totaling $508.80. The company's expenses, excluding production costs and commissions, were $524.24. Subtracting the production costs, commissions, and expenses from the revenue of $3,570, the resulting profit is $1,683.
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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
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($14)(25)=$350
($25)(11)=$275
$350+$275= $625