The balance sheet for the newly formed ACME Bank is shown below.ACME Bank Balance Sheet 1Assets Liabilities and net worthReserves $151,000 Checkable deposits $140,000Property $275,000 Stock shares $286,000Required:
a. Toshi, the owner of Toshi's Produce, negotiates with the bank to obtain a $28,000 loan to buy a new delivery truck. The amount of the loan is added to the available balance of Toshi's checking account. Fill in the new values that will appear in the balance sheet immediately after the loan is finalized.ACME Bank Balance Sheet 2Assets Liabilities and net worthReserves ???? Checkable deposits ????Loans ???? Stock shares ????Property ????
Answers
Answer:
Explanation:
As the loan has not been used yet, it will stay in the Loan account of the bank. The balances on the books for ACME will therefore be,
Reserves - $151,000.
It does not change as loan has not been used yet. If Toshi was to use loan then this figure will reduce because withdrawals are given from the Bank reserves.
Checkable Deposits will increase by the loan amount as that was where Toshi was credited to.
= 140,000 + 28,000
= $168,000
Loans - $28,000
The bank will now have a loan balance of $28,000 on its debit side to reflect the loan it just gave out.
Stock Shares - $286,000.
Not affected by the transaction.
Property - $275,000
Not affected by the transaction.
Immediately after Toshi's loan is finalized, the Balance Sheet of ACME Bank will look like this:
ACME Bank
Balance Sheet
Assets Liabilities and Net Worth
Reserves $179,000 Checkable deposits $168,000
Property $275,000 Stock shares $286,000
Total assets $454,000 Total Liabilities & net worth $454,000
Data and Calculations:
ACME Bank Balance Sheet
Assets Liabilities and Net Worth
Reserves $151,000 Checkable deposits $140,000
Property $275,000 Stock shares $286,000
Total assets $426,000 Total Liabilities & net worth $426,000
a. Reserves $28,000 Checkable deposits $28,000
Thus, ACME Bank's Reserves will increase by $28,000, and its Checkable deposits will also increase by $28,000.
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Related Questions
According to the five forces model, an unattractive industry would include all of the following characteristics EXCEPT:-low economies of scale needed for new firms to enter.-low supplier power due to commodity inputs.-high threat of substitute products due to a large number of low-cost alternatives.-high bargaining power of buyers due to low switching costs.
Answers
According to the five forces model, an unattractive industry would include all of the following characteristics EXCEPT: low supplier power due to commodity inputs.
What is the main goal of five forces model?The goal of Porter's Five Forces model is to assess the overall competitive landscape of a particular business sector. Each of these five forces corresponds to a key component of market intensity.
How do you do Five Forces analysis?To create your own Porters Five Forces model and long-term strategy for your business: Evaluate your competitors. Calculate the bargaining power of suppliers. Assess the bargaining power of buyers. Identify potential new entrant threats. Evaluate the risks of substitution.
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complete question:
According to the five forces model, an unattractive industry would include all of the following characteristics EXCEPT:
-low economies of scale needed for new firms to enter.
-low supplier power due to commodity inputs.
-high threat of substitute products due to a large number of low-cost alternatives.
-high bargaining power of buyers due to low switching costs.
Metric
Month 1
Month 2
Month 3
% Customer Questions
+896
+10%
+1296
% Shipped On Time
- 10%
-796
-5%
% Shipped Incorrectly
+2%
+4%
+496
% Discounted
+18%
+18%
+1496
Units Shipped (Thousands)
SO
85
100
Question 2 of 4
How impactful were product discounts on
customer questions?
Not
impactful
Extremely
impactful
Answers
Based on the changes in customer changes and the changes in discounts, customer questions were Not impactful on customer questions.
Relationship between Customer questions and discounts.When the discounts were maintained at 18%, customer questions still grew by 2% to 10%. When discounts dropped to 14%, customer questions still increased by its normal rate of 2% to 12%.In conclusion, we can say that discounts were not impactful on customer questions because customer questions did not change in relation to changes in discount.
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You just acquired 1,000 from the lottery.
You decide to invest in stocks with it (like a smart person should). You figure on buying apple stock which costs $100 a share. How many shares would you own of apple if you bought $1,000 worth of apple stock at $100 a share.
Answers
If you bought $1,000 worth of Apple stock at $100 per share, you would own 10 shares of Apple stock.
To determine the number of shares you would own of Apple stock if you bought $1,000 worth of stock at $100 per share, you need to divide the total investment amount by the price per share.
Number of shares = Total investment amount / Price per share
In this case, the total investment amount is $1,000 and the price per share is $100.
Number of shares = $1,000 / $100
= 10 shares
Therefore, if you bought $1,000 worth of Apple stock at $100 per share, you would own 10 shares of Apple stock.
It's important to note that stock prices fluctuate, so the actual number of shares you would own may vary depending on the current market price at the time of purchase. Additionally, transaction fees and other costs associated with buying stocks should also be taken into consideration.
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In which type of bailment does the bailee have the highest
standard of care?
A. Bailment for benefit of consideration
B. Bailments for the benefit of bailor and bailee
O C. Bailment for the sole benefit of the bailor
O D. Bailments for the sole benefit of the bailee
Answers
Answer:
D. Bailments for the sole benefit of the bailee.
Explanation:
i got it right:)
What is the purpose of database normalization in tables?
Answers
Answer:
This includes creating tables and establishing relationships between those tables according to rules designed both to protect the data and to make the database more flexible by eliminating redundancy and inconsistent dependency.
Answer: its A
Explanation:
Compute prime cost given the following data: direct materials, $ 47,500; direct labor, $ 96,300; factory overhead, $ 87,900; and selling expenses, $ 54,290. a. $ 142,190 b. $ 285,990 c. $ 143,800 d. $ 184,200
Answers
Answer:
577,1970
Explanation:
that correct answer
Slepoy Company opened a new flower store and completed the following transactions during September:1. Shareholders invested $80,000 cash in exchange for common stock.2. Purchased a delivery truck for $14,000 by making a $2,000 down payment, and signed a note payable for the balance.3.Purchased $3,400 of flowers on account. Paid $3,200 of the balance during the month. 4. Paid $1,200 for rent and wages.5. Paid $2,400 for advertisements to be placed in the local newspaper for the month of October.How much will Flowers Co. report on its balance sheet as Total Assets on September 30
Answers
Answer:
$200
Explanation:
Flowers Co. report on its balance sheet Total Assets of $200 on September 30.
in the circular flow diagram what do firms receive from resource markets
a. income
b. factors of production
c. revenue
d. goods and services
Answers
Firms in resource markets, depicted in the circular flow diagram, receive b. factors of production.
Whereas, in the product market, firms receive revenue in exchange for their goods and services.
What is a resource market?A resource market provides the opportunity for a business to purchase resources for the production of goods and services. Resource markets are not the product or financial markets. In product markets, businesses trade finished goods and services in exchange for revenue. In financial markets, businesses and individuals trade financial assets.
Thus, in the circular flow diagram, which depicts the continuous flow of resources and funds among individuals, firms, product markets, and resource markets, firms receive factors of production.
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The total factory overhead for Bardot Marine Company is budgeted for the year at $600,000, divided into four activities:
Fabrication $204,000; Assembly $105,000; Setup $156,000; and Inspection $135,000.
Bardot Marine manufactures two types of boats: speedboats and bass boats. The activity-base usage quantities for each product by each activity are as follows:
Fabrication Assembly Setup Inspection
Speedboat 2,000 dlh 1,000 dlh 300 setups 1,100 inspections
Bass boat 3,000 dlh 3,000 dlh 400 setups 1,500 inspections
Each product is budgeted for 250 units of production for the year.
a. Determine the activity rates for each activity.
b. Determine(A) the activity rates for each activity and (B) the activity based factory overhead per unit for each product.
Answers
Answer:
Bardot Marine Company
a. Activity rates for each activity:
Fabrication = $40.80/dlh
Assembly = $26.25/dlh
Setup = $222.86/dlh
Inspection = $51.92/dlh
b. The activity based factory overhead per unit for each product:
Speed Bass
Boats Boats
Factory Overhead per unit $927.25 $1472.70
Explanation:
a) Data and Calculations:
Activities Budgeted Speed Bass
Overheads Boats Boats Total Activity rates
Fabrication $204,000 2,000 dlh 3,000 dlh 5,000 dlh $40.80/dlh
Assembly $105,000 1,000 dlh 3,000 dlh 4,000 dlh $26.25/dlh
Setup $156,000 300 dlh 400 dlh 700 dlh $222.86/dlh
Inspection $135,000 1,100 dlh 1,500 dlh 2,600 dlh $51.92/dlh
Total costs $600,000
Units budgeted 250 250 500 units
Speed Bass
Boats Boats
Fabrication = $40.80/dlh $81,600 $122,400
Assembly = $26.25/dlh 26,250 78,750
Setup = $222.86/dlh 66,850 89,144
Inspection = $51.92/dlh 57,112 77,880
Total assigned costs $231,812 $368,174
Units budgeted 250 250
Overhead per unit $927.25 $1472.70
What will it cost your team or organization to plan and complete this initiative?
What won't you be able to do as a result? What additional resources will you
need to complete it? How will you get them?
Answers
Answer:
nasaan yung answer?di ko maintindihan
1. Values in a chart must be:
Select the correct option.
O a. Numbers
O b. Words
O c. Months
O d. Columns
Answers
Answer:
a. Numbers
Explanation:
The values in a chart represent data. Anyone reading a chart should be able to interpret the information presented with relative ease. Due to the space factors, the values of a chart are always in numbers. Values in number form take little space compared to words.
Numbers are clear and easy to understand for everyone. When a value is very big, writing it in words may pose a challenge for some people to understand.
According to the quantity theory of money, the major cause of inflation in the long run is an increase in:________ a. the velocity of money. b. the growth rate of real GDP. c. the standard of living. d. the growth rate of the money supply.
Answers
Answer:
I think that the answer is d, sorry if I'm wrong
Explanation:
Question 1
Since" we can't always get what we want", we have to make
Answers
Answer:
compromises
have a nice day!
Question 3: MNG4801/102/0/2023 3. Critically discuss the difference between the inside-out versus outside-in perspectives when managing strategically. As part of your discussion, identify which one of these perspectives was prioritized by Theo Baloyi when he first started his business and then apply it to the Bathu Shoes case study. You need to support your discussion by integrating the relevant theory in your discussion with practical examples from the case study.
Answers
The inside-out versus outside-in perspectives are two different approaches to managing strategically. The outside-in perspective is supported by the market-oriented strategic planning approach.
Discuss the inside-out versus outside-in perspectives?The inside-out approach centers around a company's strengths and capabilities, leveraging them in the market to identify opportunities. Upon starting his business, Bathu Shoes, Theo Baloyi embraced this perspective as a priority.
Meanwhile, market-oriented strategic planning emphasizes understanding customer needs for an outside-in viewpoint. Products and services should be developed with these in mind. Adopting this outlook allowed Bathu Shoes to deepen their comprehension of customers and what they require.
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TRUE/FALSE. Write T if the statement is true and F' if the statement is false.
1) Internal control is an organizational plan that ensures that the financial statements are prepared and submitted on time.
2) It is important for a business to identify policies which ensure that all customers are treated similarly and that results can be measured effectively.
3) All cash receipts should be deposited in the bank at the end of each week.
4) Companies receive cash either over the counter, through the mail, or by electronic funds transfer.
5) The security measures are the same for any type of cash receipts
6) A receiving report should be matched with the supplier invoice before a payment to the supplier is approved.
7) For good internal control over cash payments, the company officer approving a payment voucher should be the same as the person who ordered the goods. This ensures that the correct amount of cash is paid.
Answers
Answer:
1) False
2) True
3) False
4) True
5) False
6) True
7) False
Explanation:
The internal controls has multiple outcomes. It does not only ensures that financial statements are prepared according to the applicable standard but also ensures to prevent fraud in the organization.
Business should focus on their customers and treat them fairly.
It is not mandatory to deposit all the cash receipt in the bank every week.
Security measures vary from business depending on their risk nature.
Sound internal controls require segregation of duties. The person who is ordering the goods should be different from the one who is making the payment to avoid chances of fraud.
Zoe is a CEO of corporation she organized herself and the corporation has 15 shareholders the company operates in several States as well as outside the US her business consists mostly of training services for in-home medical Care personnel her company would be a __________ corporation? Is it closely held or is subchapter s
Answers
Answer: closely held
Explanation:
Based on the information that are given in the question, Care personnel company would be a closely held organization.
A closely held corporation, is also referred to as the closed corporation. For such firma, few number of people hold their stock.
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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Principles of Investment
Which characteristic is most imortant in determining an investment's level of risk
Answers
Answer:
demand for investments
Explanation:
Bramble Corp. reported the following year-end information: Beginning work in process inventory $1080000 Beginning raw materials inventory 300000 Ending work in process inventory 900000 Ending raw materials inventory 480000 Raw materials purchased 960000 Direct labor 910000 Manufacturing overhead 730000 Bramble Corp.'s cost of goods manufactured for the year is
Answers
Answer:
$2,600,000
Explanation:
Cost of goods manufactured
Consider all the manufacturing costs in the calculation to determine the cost of goods manufactured.
Cost of goods manufactured = $1,080,000 + $780,000 + $910,000 + $730,000 - $900,000
= $2,600,000
Notes :
Raw Materials used in Production = $300,000 + $960,000 - $480,000
= $780,000
therefore,
Bramble Corp.'s cost of goods manufactured for the year is $2,600,000.
As a corporation, you want to distribute money to shareholders as a dividend. If the dividend is taxed at a rate of 20% and the dividend is $1 per share, how much money will a shareholder of 10,000 shares get after-tax? a) $8,000 b) $8,250 c) $8,400 d) $9,000
Answers
Answer:
a) $8,000
Explanation:
The tax rate is 20% of the dividend. If the dividend is $1 per share, the actual tax per share is 20 percent of $1.
=20/100 x $1
=0.2 x$1
=20cents per share
A shareholder will receive $1- 20 cents as dividends per share
=80 cents or $0.80 per share.
A shareholder with 10,000 shares will get
=10,000 x $.80
=$8,000
Answer:
$8000
Explanation:
under manufacturing what are the following national and international business opptunities
Answers
When nations cannot successfully produce a true or service, they can seek to acquire it through trade with every other country. These opportunities to specialize regularly lead to greater effectivity in production, greater levels of innovation, and extended satisfactory of development.
Which of the following is are kind kinds of global enterprise *?The fundamental sorts of International business include: Export Trade: Selling products and services to different nations. Import Trade: Buying items and offerings from different countries. Entrepot Trade: Importing items and offerings to re-export them to other nations.
Attract foreign demand: Some companies are unable to extend their market share due to fierce competition within the enterprise
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https://brainly.com/question/14926566#SPJ1Amounts due from customers when goods are sold on credit are called?
Answers
Answer:
when goods are sold on credit are called Trade debits.
Amounts due from customers when goods are sold on credit are called Trade debits.
What are trade debits?A debit spread, also known as a net debit spread, is an options strategy that entails the concurrent purchase and sale of options of the same class with differing strike prices, resulting in a net cash outflow for the investor, or "debit." The trading account has a net debit as a result. By buying a call option and selling another call option against it with a higher strike price inside the same expiry date, you may create a call debit spread.
As the call you buy will be more costly than the call you sell, this transaction will result in you paying a net negative to open it. Calls and puts are two distinct forms of options contracts that may be used in debit spreads.
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Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
Answers
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
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profit generated by corporations is known as ?
Answers
Answer: Net Income
Explanation:
Net Income is the profit made by a company after it has finished paying off all expenses including taxes and interest payments on debt.
Calculating the net income is the main purpose of the Income statement which is where we will see the expenses that the business is incurring and how much sales they are making to get such profits. This net income is then transferred to the Retained Earnings in the balance sheet.
___________ are issued by administrative agencies to interpret and implement statutes enacted by a legislature
Answers
Answer:
"Regulations" is the correct answer.
Explanation:
Statutes of something like the legislative process shall be implemented or approved. Nevertheless, the statutes of elected officials or federal departments are generally understood as well as properly executed.Although most laws regulating conduct are adopted. Public administrators usually provide rules concerning the applicability as well as enforcement of statutory provisions.With total reserves of $50,000 and a required
reserve ratio of 10 percent, potential
deposit creation for the banking
system is equal to :
O $20,000
O $50,000
O $80,000
O $300,000
Answers
With total reserves of $50,000 and a required reserve ratio of 10 percent, potential deposit creation for the banking system is equal to $300,000. The correct option is d.
It required reserves = transaction deposits * required reserve ratio
=200000*0.1=20000
Excess reserves =total reserves -required reserves =50000-20000
=30000
Money multiplier =1/required reserve ratio =1/0.1=10
Potential deposit creation =excess reserves * multiplier =30000*10=300000
It is $300,000.
The reserve ratio is the percentage of reservable liabilities the advertisement banks must keep rather than lend or invest. This is a requirement set by the country's central bank, which is the Federal Reserve in the United States. It is also referred to as the cash reserve ratio. The reserve requirement is the minimum amount of reserves which a bank must hold, and it is sometimes used interchangeably with the reserve ratio.
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Which of the following currencies are not involved in affecting the revenue your company receives on shipment of action-cameras and UAV drones to buyers in the four geographic regions where it competes?
Answers
Answer: Indian rupees and Russian rubles
Explanation:
The options are:
a. Singapore dollars and euros.
b. Indian rupees and Russian rubies
c. US dollars and Taiwan dollars
d. The Brazilian real and Taiwan dollars
e. US dollars and euros
Explanation:
It should noted that the currencies that affects the revenues received by the company on the shipments of camera to the retailers in the four geographic regions where it markets cameras include the U.S. dollars, euros, Singapore dollars, Taiwan dollars, and Brazilian real.
Therefore, based on the options given, we can see that option B "Indian rupees and Russian rubles" is the correct answer as the currencies arr not involved in affecting the revenue.
merchandise inventory was destroyed by fire on october 11.
jan-1-merchandise inventory birr_260000
jan1_oct-11,purchase birr 1900000
sales(net)birr 3200000
estimated gross profit rate 40percent
A.estimate the cost of the merchandise destroyed
B.briefly describe the situation
Answers
A) The cost of merchandise destroyed by fire should be determined as $240,000.
B) The amount of merchandise destroyed by fire can be computed by deducting the cost of merchandise sold from the amount of merchandise available for sale.
What is the merchandise?Merchandise refers to the goods produced by a company and then sale them in the consumer market or their distributors.
Given values:
Beginning inventory: 260,000
Inventory purchases: 1,900,000
Net sales: 3,200,000
Gross profit ratio: 40%
Step-1 Computation of merchandise available for sale:
\(\rm\ Total \rm\ Merchandise \rm\ sold=\rm\ Beginning \rm\ Inventory + \rm\ Inventory \rm\ Purchases\\\rm\ Total \rm\ Merchandise \rm\ sold=260,000 + 1,900,000\\\rm\ Total \rm\ Merchandise \rm\ sold=2,160,000\)
Step-2 Computation of gross profit:
\(\rm\ Gross \rm\ profit=\rm\ Net \rm\ sales \times \rm\ Gross \rm\ profit \rm\ ratio\\\rm\ Gross \rm\ profit=3,200,000 \times\ 40\%\\\rm\ Gross \rm\ profit=1,280,000\)
Step-3 Computation of cost of sold merchandise:
\(\rm\ Cost \rm\ of \rm\ sold \rm\ merchandise = \rm\ Net \rm\ sales-\rm\ Gross \rm\ profit\\\rm\ Cost \rm\ of \rm\ sold \rm\ merchandise=3,200,000-1,280,000\\\rm\ Cost \rm\ of \rm\ sold \rm\ merchandise=1,920,000\)
Step-4 Computation of merchandise destroyed by fire:
\(\rm\ Merchandise \rm\ destroyed \rm\ by \rm\ fire=\rm\ Total \rm\ merchandise \rm\ sold-\rm\ Cost \rm\ of \rm\ merchandise \rm\ sold\\\rm\ Merchandise \rm\ destroyed \rm\ by \rm\ fire=2,160,000-1,920,000\\\rm\ Merchandise \rm\ destroyed \rm\ by \rm\ fire=240,000\)
Therefore, the amount of merchandise destroyed by fire comes out to be 240,000.
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Exercise 12.7 Cash dividends, stock dividends, and share splits L.O. 4
Answers
Answer:
Exercise 12.7 Cash dividends, stock dividends, and share splits L.O. 4
In a market economy with perfect competition, sellers
Answers
Answer:
There are a large number of buyers and sellers in a perfectly competitive market. The sellers are small firms, instead of large corporations capable of controlling prices through supply adjustments. They sell products with minimal differences in capabilities, features, and pricing.