Answers
The table for a perfectly competitive firm is given below:
How to solveWorking notes:
(1) Fixed cost is TC when Q (output) = 0, so FC = TC(Q = 0) = 100
(2) VC = TC - FC [TC = VC + FC]
(3) AVC = VC / Q [VC = Q x AVC]
(4) AFC = FC / Q = 100 / Q
(5) ATC = TC / Q [TC = ATC x Q] = AFC + AVC
(6) MC = Change in TC / Change in Q
(7) TR = P x Q = 50 x Q
(8) Profit = TR - TC
Therefore:
Q VC TC = VC + 100 AVC AFC = 100/Q ATC MC P TR Profit
0 0.0 100.0 50.0 0.0 -100.0
1 25.0 125.0 25.0 100.0 125.0 25.0 50.0 50.0 -75.0
2 45.0 145.0 22.5 50.0 72.5 20.0 50.0 100.0 -45.0
3 59.9 159.9 20.0 33.3 53.3 14.9 50.0 150.0 -9.9
4 70.0 170.0 17.5 25.0 42.5 10.1 50.0 200.0 30.0
5 90.0 190.0 18.0 20.0 38.0 20.0 50.0 250.0 60.0
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Related Questions
A network security device that monitors incoming and outgoing network traffic and decides whether to allow or block specific traffic based on a defined set of security rules.
Answers
Answer:
Firewall.
Explanation:
Firewall can be defined as a network security device that monitors incoming and outgoing network traffic and decides whether to allow or block specific traffic based on a defined set of security rules.
Simply stated, a firewall is a network security protocol that monitors and controls inbound and outbound traffic based on set aside security rules.
A firewall is used to control access to a computer or network, as it creates a barrier between a computer or a network and the internet in order to protect against unauthorized access.
Basically, it is a network security device or security system pre-installed on most computers to essentially inspect data being transmitted to or from a computer.
Hence, firewalls are typically bidirectional, it checks all sent and received data and only allow authorized traffic through.
Answer:
Firewall.
Explanation:
Hope this helps
According to previous studies, 5% (or 1/20) of people passing through a metal detector at an airport trigger the detector. In a recent study, it considered 5 people who passed through the metal detector of that airport What is the probability that at most ("'at most") 2 people (who go through that metal detector) activate the detector?
Answers
The probability that at most 2 people activate the metal detector out of 5 is approximately 0.7738 + 0.2049 + 0.0255, which equals 0.0042 or 0.42%.
The detector is calculated as \((1 - 0.05)^5\)
The probability of 0 people activating the detector is approximately 0.7738.
The detector \((1 - 0.05)^4\). This probability is approximately 0.2049.
The detector \((1 - 0.05)^3\). This probability is approximately 0.0255.
A detector is a device or instrument used to identify or sense the presence, absence, or quantity of something. It is designed to detect specific signals, substances, events, or phenomena by converting them into measurable or observable outputs. Detectors are utilized in various fields, including science, engineering, industry, and security.
In scientific experiments, detectors are employed to capture and analyze different types of radiation, such as light, radio waves, X-rays, or particles. These detectors provide valuable information about the properties and behavior of the detected signals, aiding researchers in understanding the underlying phenomena. In industrial applications, detectors are utilized for quality control, safety monitoring, and process optimization.
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Why is liability an especially important type of car insurance?
Answers
Answer: If you cause a car accident, liability insurance will cover injuries to other people and damage to their property. Liability car insurance, sometimes called "third-party" coverage, is one of the most important types of car insurance.
Explanation:
A nurse encourages employees to implement a magnet recognition program in the organization. the nurses think beyond their own personal needs and are clear about the group outcomes. which leadership quality according to gardner’s tasks is reflected in the activity of the nurse?
Answers
Answer: representing the group
Explanation:
From the question, we are informed that a nurse encourages employees to implement a magnet recognition program in the organization and that the nurses think beyond their own personal needs and are clear about the group outcomes.
The leadership quality according to gardner’s tasks that is reflected in the activity of the nurse is the representing the group. The leader sets aside their personal aim for the group.
If the price index moves from 107 to 110, the rate of inflation is: Group of answer choices 3% 30% 28% 2. 8%
Answers
If the price index moves from 107 to 110, the rate of inflation is 2.8 %.The percentage change in inflation is then calculated by multiplying this by 100.Option D is correct.
Evaluating:Rate of inflation = 110 - 107 ÷107
= 0.0280 × 100 %
= 2.8 %
How is the rate of inflation determined by price index?The price index from the interest year is subtracted from the base year, and then the result is divided by the base year to determine inflation. The percentage change in inflation is then calculated by multiplying this by 100.
If inflation is too high, what happens?The consumer price index (CPI) is used to measure inflation, which maintains economic health at low rates. But when inflation rises quickly, it can have negative effects on the economy in the form of lower purchasing power, higher interest rates, slower economic growth, and other things.
Question incomplete:If the price index moves from 107 to 110, the rate of inflation is:
a. 3%
b. 30%
c. 28%
d. 2.8%
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What are the remedial measures of unemployment in nepal?explain
Answers
If correct will mark brainliest :)
The Federal Reserve has recently added new rules pertaining to Debit Cards. One of the new rules is that:
A. you need to be 21 to have a debit card.
B. overdraft protection is now mandatory for consumers.
C. overdraft protection is now the consumer's choice.
D. banks can no longer charge late fees on debit card accounts.
Answers
The Federal Reserve has recently added new rules pertaining to Debit Cards. One of the new rules is overdraft protection is now the consumer's choice.
Not all checking bills price a rate for overdraft safety transfers. But after they do, the price is normally considerably much less than paying an overdraft rate. It may also permit tests to clear, which in flip will let you keep away from lower back take a look at charges from merchants. It can offer get entry to finances in instances of emergency.
If a renter with overdraft safety writes an $800 take a look at on an account with a stability of $650, the overdraft safety from their related account kicks in as quickly because the take a look at is cashed—and the take a look at clears as opposed to bouncing because of inadequate finances.
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¿Un producto tiene una EPD de 0,73. Qué podemos decir acerca de la Elasticidad de este producto? Explique.
Answers
Answer:
En este caso, EPD tiene un valor de 0,73, siendo menor que 1. Por lo que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio.
Explanation:
La elasticidad precio de la demanda (EPD) indica en qué medida los cambios en el precio alteran la demanda de productos o servicios concretos. En otras palabras, la elasticidad precio de la demanda señala cuánto varía la cantidad demandada de un bien cuando varía su precio.
Se calcula comparando el valor porcentual del cambio en el precio con el del correspondiente cambio en la demanda. Es decir, se define como el cambio porcentual en la cantidad demandada dividido por el cambio porcentual en el precio.
Si la EPD > 1, se dice que la demanda del bien es elástica y la cantidad demandada aumenta (disminuye) en mayor proporción en que baja (sube) el precio. La cantidad demandada aumenta (disminuye) en mayor proporción en que baja (sube) el precio.
Si la EPD < 1, se dice que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio. La demanda de un bien es inelástica cuando la reacción de los consumidores ante un cambio en el precio no es significativa.
Si la EPD = 1, se dice que la demanda del bien tiene elasticidad unitaria y la cantidad demandada aumenta (disminuye) en la misma proporción en que baja (sube) el precio.
En este caso, EPD tiene un valor de 0,73, siendo menor que 1. Por lo que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio.
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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Sean’s mother had to make an emergency purchase of a new tire because her tire went flat while she was traveling to the store. She is not sure how much money she has in her checking account. Which method of payment should she use to be financially responsible?
She should pay by telephone with her debit card.
She should pay with a debit card.
She should pay with a credit card.
She should pay with a check.
Answers
Answer:
c. She should pay with a credit card.
Explanation:
Credit cards are basically loans that the banks give to the customer to use and pay back before the due date.
Now if Sean's mother does not know how much money she has, she must use the credit card because to be financially responsible and pay the type services their due amount.
Later she can check her account details and make payments to the bank as per requirement.
Explanation:
The most financially responsible option for Sean's mother would be to pay with a debit card. The correct option is B.
Why debit card is better than cash?You can carry out purchases using a debit card rather than scrambling for cash, looking through your pockets or handbag for exact change, writing a check, or visiting an ATM. It's also more convenient than ever thanks to the increase in companies accepting debit card payments.
This is because a debit card transaction deducts the payment directly from her checking account, so she can only spend the money she actually has available. This can help her avoid overspending or going into debt.
Paying by telephone is also a convenient option, but it is important for Sean's mother to make sure she is using a secure and trusted payment system to protect her personal and financial information.
Using a credit card or writing a check are also options, but they may not be as financially responsible in this situation. With a credit card, Sean's mother would be borrowing money and may incur interest charges if she doesn't pay the balance in full. Writing a check may take longer to process and may not be accepted by all tire shops.
Thus, the ideal selection is option B.
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Expected payments to creditors for materials purchased will appear in a pro-forma statement of comprehensive income of an enterprise. Select one: True False
Answers
False. The expected payments to creditors for materials purchased do not appear in a pro-forma statement of comprehensive income.
A pro-forma statement of comprehensive income, also known as a projected or forecasted income statement, presents an estimate of an enterprise's financial performance for a future period. It includes revenues, expenses, gains, and losses to project the expected profitability of the business.
The payments to creditors for materials purchased, on the other hand, are recorded in the statement of cash flows. The statement of cash flows provides information about the cash inflows and outflows of an enterprise, including cash payments to suppliers or creditors for purchases of materials.
While the pro-forma statement of comprehensive income may consider expenses related to materials purchased, it does not specifically depict the expected payments to creditors. The statement of cash flows is the financial statement that focuses on the cash movements, including payments to creditors, and provides a clearer picture of the enterprise's liquidity and cash flow position.
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first-mover disadvantages (or late-mover advantages) rarely ever arise when
Answers
First-mover disadvantages refer to the risks and disadvantages that companies face when they are the first to enter a market or introduce a new product or service. Late-mover advantages, on the other hand, refer to the benefits that companies can reap by entering a market after the first-mover has already established it. However, there are certain situations in which first-mover disadvantages or late-mover advantages are not applicable.
One such situation is in markets that are highly regulated or have significant barriers to entry, such as the pharmaceutical industry. In these industries, it is difficult for new companies to enter the market and gain traction, regardless of whether they are a first-mover or a late-mover. Additionally, in markets where there is significant brand loyalty or switching costs, being a first-mover can confer a significant advantage. For example, companies like Coca-Cola and Nike have enjoyed enduring success in part because they were early movers in their respective markets and were able to build strong brand recognition and customer loyalty over time.
In conclusion, while first-mover disadvantages and late-mover advantages are common in many markets, there are situations where they may not apply. Understanding the unique characteristics of a given market is key to determining whether being a first-mover or a late-mover is advantageous or not.
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A three-step model developed by Kenneth Blanchard and Norman Vincent Peale is used to evaluate:a. alcoholismb. legal issuesc. comparable worthd. an ethical dilemma
Answers
The three-step model developed by Kenneth Blanchard and Norman Vincent Peale is commonly used to evaluate ethical dilemmas.
The first step of the model is to determine whether the action in question is legal. This step is important because it establishes a baseline of ethical behavior. If an action is illegal, it is generally considered unethical.
The second step of the model is to evaluate whether the action is balanced or fair to all parties involved. This step takes into account the interests of all stakeholders and seeks to find a solution that is mutually beneficial.
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Management at work you are the proud owner of a small vintage clothing store. your store, fantastic 40s, specializes in clothing from the 1940s. you have four great employees, rebecca, rachel, roberto, and rafael. at first, business was good, but, recently, you have noticed that sales are slipping. puzzled, you turn to your management textbook for some ideas on how to turn things around.
Answers
Answer:
You measure sales over time and realize that the months of July, August, and September are particularly slow. As a result, you ask two of your sales clerks if they would be willing to work part-time during those months. Management Science.
Management science refers solving problems and making decisions in a company in order to move it forward. By preferring solutions to the problem of slow sales over some months, you have engaged in management science.
You make sure that when you hire new people, you get input from each of the existing team members. if they're happy with the new hire, they're more likely to make that person part of the team, and the team will sell more. Humanistic Management Theory.
With Humanistic Management, the needs, wants and thoughts of employees are taken into account when making decisions because employees are not viewed as simple assets to the company but as humans who are complex. By finding out what your employees think of a new hire you are engaging in the Humanistic theory.
You notice that when customers have too many choices, they are less likely to make a decision about what to buy, so you tell all of your employees to bring out only three things at one time. In addition, you start to pay your employees a commission for every item they sell. Classical Management theory.
Classical management is based on certain premises such as the needs of employees being either physical or economic as well as profit maximization. By offering commissions as incentives you are appealing to the economic need of your employees. By engaging in practices aimed at getting people to buy more, you are engaging in profit maximization.
A customer survey shows that the men who come into the store would prefer to be left alone while they shop, but the women who come into the store want to be asked if they need assistance. you tell your employees to leave men alone and ask women if they want help. Contingency Theory.
Contingent Theory shows that for each situation in a company, it is best to manage it based on the internal and external factors affecting it. In this case men don't need help but women prefer it. Offer help to women but not to men. You are therefore basing actions on the factors affecting this situation.
A whole supermarket shelf of snack food bags is marked, "Frito-Lay." This is an example of a(n)
brand.
a. co brand
b. individual
c private
d. wholesale
e. family
Answers
which of these best describes a person who is a qualified expert that helps people and businesses meet their long term financial goals?
Answers
A financial planner is a personal advisor who helps clients manage their financial affairs and work towards their long-term financial goals.
Financial is defined as providing money or credit for something. An example of finance is a bank lending someone money to buy a house. It refers to the corpus of funds and credit used in business. Business funds are necessary for the purchase of assets, goods, and raw materials, and for conducting other economic activities. Strictly speaking, it is required to perform all business transactions.
Finance is also important to strengthen corporate finance, as it enables companies to take risks and grow. As the use of technology increases, people are becoming more and more dependent on money to reach their goals. Finance is important for empowerment because it enables businesses to take risks and grow.
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similarities between single column cash book and double column cash book
Answers
Answer:
Both single column cash book and double column cash book are similar because they both record cash payments
Explanation:
A cash book is a book or journal used to record all business transactions within a particular period like receipts, disbursements, bank deposits and bank withdrawals. They are different cash books namely: single column cash book, double column cash book and triple column cash book.
A single column cash book is used to record payments in form of cash while a double column cash book records both cash payments as well as bank transactions.
Both single column cash book and double column cash book are similar because they both record cash payments
Which of the following best defines money?
Just a multiple choice finance question for school.
Choose 1 answer:
A
Cash held in bank vaults
B
Currency that has intrinsic value, such as gold coins
C
Paper currency or coins
D
Any asset that is accepted as a way of paying for something
E
Paper currency or coins that are backed in value by gold
Answers
Answer:
B and C, D
Explanation:
A decrease in the price of a complementary good will cause its complement’s equilibrium price to ______________ and the equilibrium quantity to ______________.
Answers
A decrease in the price of a complementary good will cause its complement’s equilibrium price to decrease and the equilibrium quantity to decrease.
Complementary goods are those that are consumed together. Substitutes are goods that can be consumed in place of the original. Prices of substitute goods or complementary goods also cause the demand curve to shift. When the price of a complementary good falls, the quantity demanded of one rises and the requirement for the other rises. When the cost of a substitute good falls, the quantity demanded for that good rises, but the demand for the good for which it is substituted falls.
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Which of the following is a characteristic of a competitive market?
A) Standardized product
B) All of these
C) Few buyers
D) Barriers to entry
E) Few sellers
Answers
People commonly use credit cards, auto loans, home mortgages to finance their purchases *
A. True
B. False
Answers
Answer:
the answer to this question is true
Answer:
People use credit cards for daily purchases. I think the question is asking for finance a purchases which will conclude it's a big purchases so YES people will use credit and assists to finance purchases
Explanation:
The best answer is A. Ture
given a project's expected cash flows, it is easy to calculate its npv, irr, mirr, payback, and discounted payback. cash flows are estimated based on information from various sources. there is uncertainty in a project's forecasted cash flows, and some projects are more uncertain and thus riskier than others. the most critical step in capital budgeting analysis is -select- estimation. the key is to focus on only -select- . factors that complicate the analysis are sunk costs, opportunity costs, externalities, changes in net operating working capital, and salvage values. adjustments to the analysis must be made for -select- . we concentrate on expansion project analyses here but there are similarities when analyzing replacement projects. give the correct response to each of the following questions. which of the following items should be included in the capital budgeting analysis? -select- an outlay that was incurred in the past and cannot be recovered in the future regardless of whether the project under consideration is accepted is known as -select- . which of the following is an example of an opportunity cost? a. a publisher introduces a new textbook which reduces sales of one of their existing textbooks. b. a firm has land that can be used in building a new store. if the new store is not built, the firm could sell the land for $2 million (net of taxes). c. apple's investment in the itunes music store boosted sales of its ipod. d. the cost of a report done 2 years ago to investigate the potential of a new plant and the permits required to build it. e. statements a and d are both examples of opportunity costs. the correct response is -select- . which of the following is an example of cannibalization? a. a publisher introduces a new textbook which reduces sales of one of their existing textbooks. b. a firm has land that can be used in building a new store. if the new store is not built, the firm could sell the land for $2 million (net of taxes). c. apple's investment in the itunes music store boosted sales of its ipod. d. the cost of a report done 2 years ago to investigate the potential of a new plant and the permits required to build it. e. statements c and d are both examples of cannibalization. the correct response is -select- .
Answers
The most critical step in capital budgeting analysis is cash flow estimation. The correct option d. incremental cash flows.
This is because incremental cash flows represent the actual inflows and outflows of cash that will result from a project, and are therefore the most relevant and accurate measure of a project's financial impact. Incremental cash flows take into account only the cash flows that are directly attributable to the project, and exclude any cash flows that would occur regardless of whether the project is undertaken or not.
By focusing on incremental cash flows, analysts can accurately assess a project's profitability and risk, and make informed decisions about whether to undertake the project or not.
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Full Question: Given a project's expected cash flows, it is easy to calculate its NPV, IRR, MIRR, payback, and discounted payback. Cash flows are estimated based on information from various sources. There is uncertainty in a project's forecasted cash flows, and some projects are more uncertain and thus riskier than others. In this chapter, we illustrate how project cash flows are estimated, discuss techniques for measuring risk, and discuss how to choose between projects that have significantly different lives, are mutually exclusive, and can be repeated.
The most critical step in capital budgeting analysis is cash flow estimation.
The key is to focus on only
a. relevant
b. net income
c. incremental accounting income or
d. incremental cash flows.
According to North Carolina Real Estate Commission rules, under what circumstances, if any, may a broker disclose the terms contained in one party's offer to purchase real estate to a competingparty?O A. with the written authorization of the party making the offerO B.with the written authority of the party receiving the offerC. with the written authority of both parties to the prospective transactionO D. Such disclosure is prohibited.
Answers
According to North Carolina Real Estate Commission rules, a broker may disclose the terms contained in one party's offer to purchase real estate to a competing party only (C) with the written authorization of both parties to the prospective transaction. Otherwise, such disclosure is prohibited.
Real estate is the business of buying selling or renting any kind of property related to land such as, land, building or house.
North Carolina Real Estate Commission was formed in 1775 as an independent state government agency. Its primary objective is to protect the rights of the common men when they deal with real estate brokers.
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SOLVE THE GRAPH AND THE SUPPLY OR SHORTAGE AND THE PRESSURE OF PRICE
Answers
Answer:
probably cant figure it out
Explanation:
which of the following jobs typically requires an associate’s degree
Answers
you never added the jobs...
The Brownstone Corporation's bonds have 6 years remaining to maturity. Interest is paid annually, the bonds have a $1,000 par value, and the coupon interest rate is 8%. 1. What is the yield to maturity at a current market price of $767? Round your answer to two decimal places. % 2. What is the yield to maturity at a current market price of $1,070? Round your answer to two decimal places. % b. Would you pay $767 for one of these bonds if you thought that the appropriate rate of interest was 12% - that is, if rd = 12%. -Select- ✔ Explain your answer. I. You would buy the bond as long as the yield to maturity at this price does not equal your required rate of return. II. You would buy the bond as long as the yield to maturity at this price is greater than your required rate of return. III. You would buy the bond as long as the yield to maturity at this price is less than your required rate of return. IV. You would buy the bond as long as the yield to maturity at this price equals your required rate of return. -Select- V
Answers
1 .Yield to maturity at a market price of $767: 10.33%. Explanation: The yield to maturity is the annualized return considering the bond's price and coupon payments. By using financial calculations, the yield is determined to be 10.33%.
2 .Yield to maturity at a market price of $1,070: 5.65%. Explanation: The yield to maturity is calculated as 5.65% based on the bond's current market price and coupon payments. This reflects the annualized return an investor would receive if they hold the bond until maturity.
b. You would buy the bond as long as the yield to maturity at this price is greater than your required rate of return. In this case, the yield to maturity is 10.33%, which is higher than the required rate of return of 12%. Therefore, you would buy the bond because it offers a higher yield than your required rate of return, indicating a potentially favorable investment opportunity.
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Abardeen corporation borrowed $90,000 from the bank on october 1, year 1. The note had an 8 percent annual rate of interest and matured on march 31, year 2. Interest and principal were paid in cash on the maturity date. Required a. What amount of cash did abardeen pay for interest in year 1? b. What amount of interest expense was recognized on the year 1 income statement? c. What amount of total liabilities was reported on the december 31, year 1, balance sheet? d. What total amount of cash was paid to the bank on march 31, year 2, for principal and interest? e. What amount of interest expense was reported on the year 2 income statement?.
Answers
a) The amount of cash that Abardeenn Corporation paid for interest in year 1 is $0.
b) The amount of interest expense recognized on the year 1 income statement is $1,800 ($90,000 x 8% x 3/12).
c) The amount of total liabilities reported on the December 31, year 1 balance sheet is $91,800 ($90,000 + $1,800).
d) The total amount of cash paid to the bank on March 31, Year 2, for principal and interest is $93,600 ($90,000 + ($90,000 x 8% x 6/12).
e) The amount of interest expense reported on the year income statement is $1,800 ($90,000 x 8% x 3/12).
How is interest calculated?Interest can be computed by applying the interest rate to the amount of notes payable based on the period under coverage.
For example, the interest amount for a six month is not the same as the interest amount for a full year, as interests are always prorated.
Data and Calculations:Amount of Note Payable = $90,000
Annual interest rate = 8%
Maturity date = March 31, Year 2
Maturity period = 6 months
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Select two learning styles from the following list. Describe ways in which each of the two learning styles prefer to learn. Bodily/kinesthetic, interpersonal, intrapersonal, logical/mathematical, naturalistic, rhythmic/musical, verbal/linguistic.
Answers
Answer:
interpersonal
positive behaviors used when interacting with others
intrapersonal
relationship with self
Explanation:
I really don't have an explanation sorry
A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1257 of supplies on hand. The general ledger balance before any adjustment is $2,110. What is the adjusting entry for office supplies that should be recorded on May 31? Multiple Choice 0 C Debit Supplies Expense $1251 and credit Supplies $125 0 Debat Prepaid Supplies $859 and credit Supplies Expenses Debat Expenses 0 and credit Suis 20 De 51 and 0 Cash 58 O D S . 0 Bes and credit
Answers
The adjusting entry for office supplies that should be recorded on May 31 is to debit Supplies Expense $859 and credit Supplies $859.
To record the adjusting entry for office supplies on May 31, we need to reconcile the physical count of supplies on hand with the balance in the general ledger. The physical count indicates $1,257 of supplies on hand, while the general ledger balance is $2,110.
Since the physical count represents the actual amount of supplies available, we need to adjust the general ledger balance to reflect this amount. The adjusting entry will involve decreasing the Supplies Expense and increasing the Supplies asset account.
To do this, we will debit Supplies Expense for the difference between the general ledger balance and the physical count ($2,110 - $1,257 = $853). This debit entry will reduce the balance in the Supplies Expense account, representing the cost of supplies used during the period.
At the same time, we will credit the Supplies account for the same amount ($853). This credit entry will decrease the balance in the Supplies asset account to match the physical count of supplies on hand.
Therefore, the adjusting entry should be to debit Supplies Expense $853 and credit Supplies $853 on May 31.
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which of the following statements is true with regard to the departmental overhead rate method? multiple choice it uses a different overhead rate for each department. it is the same as activity-based costing. each department has the same rate for the same activity pool. it is especially accurate in assigning overhead costs that are not driven by production volume. it requires one overhead cost pool and one rate.
Answers
The claim that the departmental overhead rate approach employs a different overhead rate for each department is accurate.
Departmental overhead rates give the opportunity to apply a unique activity or cost driver for each department. It happens frequently that certain departments need a lot of physical work while others need more machinery. While machine hours could be more practical for some areas, direct labor hours might be significant for others.
At the beginning of the accounting period, a predefined overhead rate is determined by dividing the projected manufacturing overhead by the estimated activity base.
The costs associated with stage overhead are first calculated separately for each production department. The second stage involves choosing an allocation base for each department, such as machine hours or direct labor hours. The next step is to calculate an overhead rate for each manufacturing department.
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