Ultimate Business Study Guide - Questions & Answers

if economic agents perfectly anticipate policy changes and if all prices inluding wages are completely flexible
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the goal of is to redesign business processes to achieve improvements in cost control, product quality, and customer service.
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bonita company had cheks oustanding totaling 10900 on its june bank reconciliation in july bonita company issued check totaing 78900
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Which of the following best describes audience fragmentation? People still pay for cable TV at a fairly high percentage, but the cost of cable overall has increased in the wake of deregulation. People don't buy books from lots of different independent stores anymore. Amazon dominates the book marketplace is almost every way. People don't watch network TV like they used to. Instead, their media consumption is highly individualized and is split up amongst hundreds of different options. People don't buy VHS tapes anymore. That technology has been replaced by streaming services and physical DVDs.
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demand pulll inflation is also called cost push inflation occurs when prices of resources rise pushingu up costs and the price level
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travis is a high school graduate. when he applied for a job at a fast food restaurant, the employers at the restaurant rejected his application because they were hiring only college graduates for the current vacancy. this scenario illustrates the process of . group of answer choices credential inflation tracking streaming grade inflation
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Rebecca wants to borrow $5,000 for 4 years. She will repay the debt, plus the finance charges in one lump sum at the end of the 4-year period. If the lender charges her 7% simple interest, how much will Rebecca pay in finance charges?-$960-None of the above-$800-$1400
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activities include those transactions and events such as lending and collecting money for notes receivable and cash receipts from sale of short-term investments.
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inpatriates are group of answer choices employees who come from a different country where he/she is working. expatriate workers who come from neither the host nor the home country. local workers who come from the host country where the unit is located. employees from foreign country who work in the country where the parent company is located.
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in response to a special fundraising campaign, whereby contributions could be used only for construction of a new warehouse, a large number of individuals promised to make cash contributions totaling $2 million during the current fiscal year. the nonprofit believes it will actually collect 80 percent of the promised cash
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Doloris is a college sophomore. She is currently living in a dorm and signed a contract to pay the dorm fees for the full academic year (9 months). The contract states the if she moves out she can sell the remaining contract to another student. The cost of the dorm is $5000 for the year. After two (2) months of living in the dorm Doloris found an apartment with her friends and really wants to move off-campus. Doloris put an ad in the Alligator and had two offers for her dorm contract buy out. 1) Pay Doloris $350 per month for the 7 remaining months. 2) Move in the second semester and pay half of the original dorm fee ($2,500). Doloris's new apartment will cost $450 in rent. The cost for food in the dorm is $500 per month and about she estimates it is $400 in food and utility monthly expenses if she moves into the apartment. Assume semesters are 4.5 months long.Required:1. What is the cost for Doloris to move into the apartment now?2. What is the cost for Doloris to move at the end of the semester?3. What is the cost for Doloris to stay in the dorm for the rest of the school year?4. Which is the most economical option for Doloris?
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Sharon is a skilled toy maker who is able to produce both trucks and puzzles. She has 8 hours a day to produce toys. The following table shows the daily output resulting from various possible combinations of her time.Choice Hours Producing Produced(Trucks) (Puzzles) (Trucks) (Puzzles)A 8 0 4 0B 6 2 3 11C 4 4 2 16D 2 6 1 19E 0 8 0 20Required:1. Suppose Sharon is currently using combination D, producing one truck per day. Her opportunity cost of producing a second truck per day is _________ per day.2. Now, suppose Sharon is currently using combination C, producing two trucks per day. Her opportunity cost of producing a third truck per day is_________ per day.
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The following information pertains to Flaxman Manufacturing Company for March 2018. Assume actual overhead equaled applied overhead. March 1 Inventory balances Raw materials $ 124,500 Work in process 118,800 Finished goods 76,300 March 31 Inventory balances Raw materials $ 85,400 Work in process 145,400 Finished goods 80,100 During March Costs of raw materials purchased $ 118,400 Costs of direct labor 100,800 Costs of manufacturing overhead 61,800 Sales revenues 359,000 Calculate the amount of gross margin on the income statement.
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Sofia tells her Accountant, Luca, to prepare the financial statements of her business and then send them to Chase Manhattan Bank. She tells Luca that she wants to get a loan for her struggling business. Luca prepares the statements and emails them to the Bank. Six months later, Sofia's business files for bankruptcy. Chase files suit against Luca because he prepared the financial statements negligently. He made Sofia's business look better than it really was. If Luca was negligent in preparing the statements, under which rule or rules can he be liable to Chase for negligence
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Sheridan Co. incurred research and development costs in 2021 as follows: Materials used in research and development projects $ 915000 Equipment acquired that will have alternate future uses in future research and development projects 2650000 Depreciation for 2021 on above equipment 441666 Personnel costs of persons involved in research and development projects 715000 Consulting fees paid to outsiders for research and development projects 265000 Indirect costs reasonably allocable to research and development projects 190000 $5176666 The amount of research and development costs charged to Sheridan's 2021 income statement should be a. $2071666. b. $1895000. c. $2526666. d. $4545000.
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Blue Spruce Corp. has had 4 years of net income. Due to this success, the market price of its 460,000 shares of $4 par value common stock has increased from $10 per share to $50. During this period, paid-in capital remained the same at $4,230,000. Retained earnings increased from $1,770,000 to $11,200,000. President E. Rife is considering either a 13% stock dividend or a 2-for-1 stock split. He asks you to show the before-and-after effects of each option on retained earnings.Required:1. Stock dividend - retained earnings $ ________ 2. 2-for-1 stock split - retained earnings $ ________
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On January 1, 2018, Ogleby Corporation signed a five-year noncancelable lease for equipment. The terms of the lease called for Ogleby to make annual payments of $180,000 at the beginning of each year for five years with title passing to Ogleby at the end of this period. The equipment has an estimated useful life of 7 years and no salvage value. Ogleby uses the straight-line method of depreciation for all of its fixed assets. Ogleby accordingly accounts for this lease transaction as a finance lease. The minimum lease payments were determined to have a present value of $750,578 at an effective interest rate of 10%.With respect to this lease, for 2018 Ogleby should recorda. rent expense of $180,000.b. interest expense of $57,058 and amortization expense of $150,116.c. interest expense of $57,058 and amortization expense of $107,225.d. interest expense of $90,000 and amortization expense of $181,956Show all work including formulas
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On January 1, 2012, Browning Corporation had 75,000 shares of $1 par value common stock issued and outstanding. During the year, the following transactions occurred:Mar. 1 Issued 60,000 shares of common stock for $675,000June 1 Declared a cash dividend of $2.00 per share to stockholders of record on June 15June 30 Paid the $2.00 cash dividendDec. 1 Purchased 5,000 shares of common stock for the treasury for $18 per shareDec. 15 Declared a cash dividend on outstanding shares of $2.50 per share to stockholders of record on December 31Net income for 2012 amounted to $951,000.InstructionsPrepare journal entries to record the above transactions.
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Which option best explains why countries trade with each other?
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On October 15, 2020, the board of directors of Ensor Materials Corporation approved a stock option plan for key executives. On January 1, 2021, 32 million stock options were granted, exercisable for 32 million shares of Ensor's $1 par common stock. The options are exercisable between January 1, 2024, and December 31, 2026, at 80% of the quoted market price on January 1, 2021, which was $30. The fair value of the 32 million options, estimated by an appropriate option pricing model, is $6 per option. Ensor chooses the option to recognize forfeitures only when they occur.Ten percent (2.6 million) of the options were forfeited when an executive resigned in 2022. All other options were exercised on July 12, 2025, when the stocks price jumped unexpectedly to $25 per share.Required:1. When is Ensors stock option measurement date?2. Determine the compensation expense for the stock option plan in 2021. (Ignore taxes.)3. Prepare the journal entries to reflect the effect of forfeiture of the stock options on Ensors financial statements for 2022 and 2023.5. Prepare the journal entry to account for the exercise of the options in 2025.
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Martinez Corp. provides security services. Selected transactions for Martinez Corp. are presented below. Oct. 1 Issued common stock in exchange for $59,400 cash from investors. 2 Hired part-time security consultant. Salary will be $1,800 per month. First day of work will be October 15. 4 Paid 1 month of rent for building for $1,800. 7 Purchased equipment for $16,200, paying $3,600 cash and the balance on account. 8 Paid $1,200 for advertising. 10 Received bill for equipment repair cost of $370. 12 Provided security services for event for $2,900 on account. 16 Purchased supplies for $370 on account. 21 Paid balance due from October 7 purchase of equipment. 24 Received and paid utility bill for $133. 27 Received payment from customer for October 12 services performed. 31 Paid employee salaries and wages of $4,600.Required:A) Journalize the transactions.
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On August 1, 2014, Rafael Masey established Planet Realty, which completed the following transactions during the month:a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business, $17,500.b. Purchased supplies on account, $2,300.c. Earned sales commissions, receiving cash, $13,300.d. Paid rent on office and equipment for the month, $3,000.e. Paid creditor on account, $1,150.f. Withdrew cash for personal use, $1,800.g. Paid automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $400.h. Paid office salaries, $2,800.i. Determined that the cost of supplies used was $1,050.Instructions1. Journalize entries for transactions (a) through (i), using the following account titles: Cash; Supplies; Accounts Payable; Rafael Masey, Capital; Rafael Masey, Drawing; Sales Commissions; Rent Expense; Office Salaries Expense; Automobile Expense; Supplies Expense; Miscellaneous Expense. Journal entry explanations may be omitted.2. Prepare T accounts, using the account titles in (1). Post the journal entries to these accounts, placing the appropriate letter to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance.3. Prepare an unadjusted trial balance as of August 31, 2014.4. Determine the following:a. Amount of total revenue recorded in the ledger.b. Amount of total expenses recorded in the ledger.c. Amount of net income for August.5. Determine the increase or decrease in owners equity for August
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Nosloc Corp. had $800,000 net income in 2019. On January 1, 2019 there were 200,000 shares of common stock outstanding. On April 1, 20,000 shares were issued and on September 1, Nosloc bought 30,000 shares of treasury stock. There are 30,000 options to buy common stock at $40 a share outstanding. The market price of the common stock averaged $50 during 2019. The tax rate is 40%. During 2019, there were 40,000 shares of convertible preferred stock outstanding. The preferred is $100 par, pays $3.50 a year dividend, and is convertible into three shares of common stock. Nosloc issued $2,000,000 of 8% convertible bonds at face value during 2018. Each $1,000 bond is convertible into 30 shares of common stock. Instructions Compute diluted earnings per share for 2019. Show all computations.
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Why do countries specialize? Check all that apply.
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