44.On 30 June 2021, Modling Ltd borrowed $310,000 as a 6-year
interest-only loan. The interest rate is 7.5% p.a. with payments
required on June 30 each year.
In relation to this loan, state the amount
Answers
Over the 6-year term of the loan, Modling Ltd will pay $310,000 in principal and $139,500 in interest, for a total of $449,500.
The amount of interest that is due at the end of each year, for the loan that Modling Ltd took out, is $23,250. To determine the amount of interest that Modling Ltd would pay each year, we will first find the interest payable for the first year, then multiply that by the remaining number of years.
The interest payable for the first year is:
$310,000 × 7.5%
= $23,250
The interest payable for each year thereafter will be:
$23,250 × 5
= $116,250
Therefore, over the 6-year term of the loan, Modling Ltd will pay $310,000 in principal and $139,500 in interest, for a total of $449,500.
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Related Questions
1.
What plays a role in supply and demand by influencing consumers to seek out particular brands or markets?
labor
integration
elasticity
advertising
Answers
Answer:
Advertising its part if marketing and brands
menton co has 7 percent, semiannual coupon bonds outstanding with a current market price of $1,023.46, a par value of $1,000, and a yield to maturity of 6.72 percent. how many years is it until these bonds mature?
Answers
Mento's 7% semiannual coupon bonds with a current market price of $1,023.46, a par value of $1,000, and a yield to maturity of 6.72% will mature in 59 years (or period 118).
How is the maturity period determined?The maturity period is the time when the bonds' face value will be repaid.
The maturity period can be computed using an online finance calculator.
The relevant figures to input in the calculation include the yield to maturity rate, the semiannual coupon payment (3.5% of $1,000), the current market price, and the future value.
I/Y (Interest per year) = 6.72%
PV (Present Value) = $1,023.46
PMT (Periodic Payment) = $35 ($1,000 x 7% x 1/2)
FV (Future Value) = $1,000
Results:
N = 118.109
= 59 years (118.109/2)
Sum of all periodic payments = $4,133.81
Total Interest = $2,110.35
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what is a tool that oligopolistic firms can use to analyze their production choices? multiple choice game theory cost minimization theory marginal revenue maximization strategy none of these can be used effectively by oligopolistic firms.
Answers
One tool that oligopolistic firms can use to analyze their production choices is cost minimization theory. Oligopolistic firms have a limited number of competitors, which gives them the ability to influence prices in the market.
Therefore, they need to be strategic in their production choices to minimize costs and maximize profits. Cost minimization theory helps firms determine the most efficient way to produce goods and services by minimizing the costs of production factors such as labor, capital, and raw materials. By using cost minimization theory, oligopolistic firms can stay competitive and maintain their market position while ensuring they are maximizing their profits. Therefore, the correct answer is cost minimization theory.
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Cash 150,000
Accounts receivable, net 80,000 Inventories 75,000 Prepaid rent 24,000
Property, plant, and equipment, net 450,000
Instructions: Type the numerical answer 1, 2, 3. or 4 in the box after the question.
A. At what amount shall the current assets be reported? Blank 1
1) 329,000 2) 305,000 3) 779,000 4) 450,000 B. At what amount shall the non-current assets be reported? Blank 2 1) 329,000 2) 305,000 3) 779,000 4) 450,000
Answers
A. The current assets shall be reported at $329,000 (option 1).
B. The non-current assets shall be reported at $450,000 (option 4).
To determine the correct reporting of current and non-current assets, we need to understand the nature of these items. Current assets are resources that are expected to be converted into cash or used up within one year or the operating cycle, whichever is longer. In this case, the current assets include cash, accounts receivable, inventories, and prepaid rent. We add up the values of these assets: $150,000 (cash) + $80,000 (accounts receivable) + $75,000 (inventories) + $24,000 (prepaid rent) = $329,000. Therefore, the current assets should be reported at $329,000 (option 1).
Non-current assets, on the other hand, are resources that are not expected to be converted into cash or used up within the next year or operating cycle. In this scenario, the only non-current asset mentioned is property, plant, and equipment, which has a net value of $450,000. Hence, the non-current assets should be reported at $450,000 (option 4). It is important to correctly classify assets as current or non-current in financial statements to provide users with an accurate picture of the company's liquidity and long-term investment in productive assets.
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Prepare a direct materials. budget, including a schedule of expected cash disbursements for purchases of materials.
Answers
Cash Budget
Cash Balance, March 1 $ 11,500
Add Cash Receipts
Collections from Customer $ 34,600
Total Cash Available $ 46,100
Fewer disbursements
Payment to Suppliers $ 24,600
Selling and administrative expenses $ 9,300
Equipment Purchases $ 14,000
Dividend Paid $ 2,000
Total Disbursements $ 49,900
Excess (Deficiency) $ (3,800)
Financing
Borrowing $ 13,800
Repayments
Interest
Total Financing $ 13,800
Cash Balance, March 31 $ 10,000
The main purpose of the cash budget is to project future cash balances and identify potential deficits and surpluses. Based on projected balances, financial professionals develop plans to deal effectively with these situations.
A cash budget is an estimate of a company's cash flow over a period of time. This can be applied to weekly, monthly, quarterly, or yearly budgets. This budget is used to assess whether the company has enough cash to continue operations for the allotted period.
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A direct materials budget is including a schedule of expected cash disbursements for purchases of materials is cash budget.
The direct materials budget calculates the materials that need to be purchased, via time period, if you want to fulfill the requirements of the manufacturing budget. it's miles normally supplied in either a month-to-month or quarterly format in the annual price range.
The method for computation of the acquisition is: purchase in devices = utilization + preferred finishing cloth inventory units − beginning stock devices. The direct material budget is typically followed through a computation of predicted coins payments for materials. The reason of the direct material budget is to determine the amount of raw materials to be bought each length to fulfill the manufacturing wishes and to offer for adequate inventories.
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which of the following statements regarding economic indicators is false? a.) lagging indicators provides us with a look at what just happened in our economy. b.) macroeconomic indicators are 100% accurate all of the time. c.) most indicators provide a snapshot view of the economy. d.) stock market performance is a leading indicator.
Answers
The sentence about economic indicators is incorrect: macroeconomic indicators are always 100% accurate. Thus, option B is correct.
What is an economic indicator?An economic indicator is a statistic about an economic activity. Economic indicators allow analysis of economic performance and predictions of future performance. One application of economic indicators is the study of business cycles.
The economic indicator phrase is inaccurate: macroeconomic indicators are always 100% correct. Economic indicator just gives the idea about the economic conditions. Therefore, it can be concluded that option B is correct.
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true or false: a periodic inventory system is updated when inventory is sold or purchased.
Answers
False, a periodic inventory system is not updated when inventory is sold or purchased.
Periodic Inventory SystemA periodic inventory system is an inventory management method where the inventory balance is not continuously updated or tracked throughout the accounting period. For the purpose of calculating the cost of goods sold and terminating inventory, the inventory count is only conducted occasionally, usually at the conclusion of the accounting period.
The cost of goods sold is determined in a periodic inventory system by subtracting the ending inventory count from the beginning inventory balance and adding the purchases made during the accounting period. A physical count of the inventory on hand is typically used to determine the ending inventory count.
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Why might a company choose a process costing system over a job order costing system? How are the two systems similar, and how are they different?
Answers
As organizations that use work order costing maintain track of materials and other resources for each project item, this method often necessitates more thorough record keeping than a process costing. However, in systems that use process costing, each production or process department has its own inventory account and aggregates expenses.
How are the 2 systems similar?Both approaches serve the same fundamental objectives: to provide a framework for calculating unit product cost and to assign material, labor, and overhead costs to items.The same fundamental manufacturing accounting principles are used by both systems, including production overhead, raw materials, work in progress, and finished goods.In both systems, the cost flow through the manufacturing accounts is essentially the same.What are the differences between the two?There are two reasons why work order costing and process costing differ from one another. The first is that a process costing system has a flow of units that is essentially continuous, and the second is that these units are interchangeable. Since each order is just one of many that are filled from a continuous flow of almost identical units from the manufacturing line, it makes no sense to try to identify materials, labor, and overhead costs with a specific order from a customer (as we do with job order costing). Under process costing, costs are accumulated by the department as opposed to orders, and they are then uniformly distributed to all units that go through the department over the course of a time period.
The fact that process costing does not employ the job cost sheet since its emphasis is on departments is another distinction between the two costing methodologies. For each department that works on items, a production report is created as opposed to a task cost sheet. The production report fulfills a number of purposes. It gives a summary of how many units pass through a department in a given time frame and computes unit costs. Additionally, it displays the expenses incurred by the department and the decision made regarding such expenses. In a process costing system, the department production report is a crucial document.
Therefore, above are all the differences and similarities between the 2 systems.
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Scenario: A major manufacturer announces it will no longer produce digital cameras.
Market: Digital cameras
Answers
In this scenario, a major manufacturer has made the decision to discontinue the production of digital cameras. This decision will have an impact on the market for digital cameras as a whole.
Decreased Supply: With the major manufacturer ceasing production, the overall supply of digital cameras in the market will decrease. This can lead to a reduction in the variety and availability of digital camera options for consumers.Shift in Market Dynamics: The exit of a major player from the market can result in a shift in market dynamics. Competing manufacturers may have the opportunity to capture a larger market share, potentially leading to increased competition and innovation.Potential Price Changes: The reduction in supply could result in an increase in prices for digital cameras, assuming the demand remains constant. The decrease in competition from the major manufacturer may give other companies more pricing power.Consumer Response: Consumers who were loyal to the discontinued brand may need to switch to alternative brands or explore other options such as smartphone cameras. The market shift may prompt consumers to reevaluate their preferences and consider alternative products.Overall, the manufacturer's decision to stop producing digital cameras will have implications for the market, potentially leading to changes in pricing, competition, and consumer behavior.
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According to Goldratt: Two activities scheduled to be carried out sequentially and using the same scarce resource benefit from having the same project manager. Two activities scheduled to be carried out in parallel and using the same scarce resource are independent. Two activities scheduled to be carried out in parallel and using the same scarce resource are not independent. Two activities scheduled to be carried out sequentially and using the same scarce resource require different project managers.
Answers
Answer:
Two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Explanation:
An Israeli physicist named, Eliyahu M. Goldratt developed the Critical Chain Project Management (CCPM) and introduced it in his book "Critical Chain" in 1997.
The CCPM is a project management methodology used by managers to better manage a project. The CCPM ensures that the project plan is feasible and immune from any uncertainty or statistical fluctuations.
In the CCPM activity network, there are no milestones and all non-critical activities are performed as late as possible.
CCPM adopts the use of drum buffers, so as to ensure extra safety is applied to a project immediately before using constrained resource.
According to Goldratt, two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
B) calculate the manufacturing cost per towel under absorption costing
c) prepare an absorption - costing income statement for empey manufacturing
Empey Manufacturing produces towels to be sold as souvenirs at sporting events throughout the world. Assume that units produced equalled units sold in 2020. The company's variable-costing income statement and other data are as follows: $580,285 EMPEY MANUFACTURING Income Statement Year Ended December 31, 2020 Variable Costing Sales (269. 900 units) Variable cost of goods sold $269,900 Variable selling expenses 21. 592 Variable administrative expenses 32,388 Contribution margin Fixed manufacturing overhead 94465 Fixed selling expenses 37,500 323,880 256,405 Fixed administrative expenses 42. 800 174765 Net Income $81,640 Unit selling price $2. 15 Variable costs per unit Direct material 0. 20 Direct labour 0. 40 0. 40 Variable overhead Variable selling expenses Variable administrative expenses 0. 08 0. 12 Calculate the manufacturing cost per towel under variable costing (Round answer to 2 decimal places, es 15. 25. ) Manufacturing cost $ per towel
Answers
Net income $168,008, To calculate the manufacturing cost per towel under absorption costing, we need to include all manufacturing costs, both variable and fixed.
Manufacturing cost per towel under absorption costing:
= (Direct materials + Direct labor + Variable overhead + Fixed overhead) / Units produced
Direct materials per unit = $0.20
Direct labor per unit = $0.40
Variable overhead per unit = $0.08
Fixed overhead per unit = Total fixed overhead / Units produced
= $94,465 / 269,900
= $0.35
Manufacturing cost per unit = $0.20 + $0.40 + $0.08 + $0.35
= $1.03
Therefore, the manufacturing cost per towel under absorption costing is $1.03.
To prepare an absorption-costing income statement for Empey Manufacturing, we need to allocate fixed manufacturing overhead to each unit produced and sold. This is done using the predetermined overhead rate:
Predetermined overhead rate = Total fixed manufacturing overhead / Units produced
= $94,465 / 269,900
= $0.35 per unit
Absorption costing income statement:
Sales revenue (269,900 units x $2.15) $580,285
Cost of goods sold:
Direct materials (269,900 units x $0.20) $53,980
Direct labor (269,900 units x $0.40) $107,960
Variable overhead (269,900 units x $0.08) $21,592
Fixed overhead (269,900 units x $0.35) $94,465
Total cost of goods sold $277,997
Gross margin $302,288
Less: Selling expenses:
Variable (269,900 units x $0.08) $21,592
Fixed $37,500
Total selling expenses $59,092
Contribution margin $243,196
Less: Administrative expenses:
Variable (269,900 units x $0.12) $32,388
Fixed $42,800
Total administrative expenses $75,188
Net income $168,008
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Under the ______, employers can consider individual's emails corporate property 1. Foreign Corrupt Practices Act 2. Sydney Principles 3. Kyoto Treaty
Answers
Under the Foreign Corrupt Practices Act, employers can consider an individual's emails as corporate property. The correct answer is option 1.
The Foreign Corrupt Practices Act (FCPA) is a United States federal law enacted in 1977 to combat bribery and corruption in international business transactions. While it mainly targets bribery of foreign officials, the FCPA also includes provisions that allow employers to treat employees' emails as corporate property. This is because these emails can serve as evidence in case there is an investigation or litigation involving the company.
In a corporate environment, it is essential for employers to have access to employees' emails to ensure compliance with the law, monitor for any unethical activities, and maintain company security. As a result, under the FCPA, employers have the authority to access, monitor, and even retain employees' emails as part of their compliance and oversight responsibilities. This allows companies to protect themselves from potential legal liabilities and to maintain ethical standards in the workplace.
To summarize, the Foreign Corrupt Practices Act grants employers the ability to treat individual's emails as corporate property, helping them maintain legal compliance, monitor potential misconduct, and safeguard their organization.
Thus, option 1 is the right answer.
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When should a person proceed with a
choice in terms of marginal benefits
and cost?
O when the market is high
O when there is no difference
O when the benefits outweigh the
cost
Answers
Answer:
when the difference outweighs the cost
The leadership team that was generally accepted as the norm historically in the churchconsisted of how many levels?
Answers
The historically accepted leadership team in the church consisted of multiple levels. In many traditional church settings, the leadership team is organized in a pyramid-like structure.
The leadership structure in the church historically varied depending on the specific denomination, tradition, and era. However, it is common to find a hierarchical structure with multiple levels of leadership. The exact number of levels may differ, but there are typically several distinct roles within the leadership team.
In many traditional church settings, the leadership team is organized in a pyramid-like structure. At the base of the pyramid, you may find the congregation or members of the church. Above them, there may be a team of elders or deacons who provide spiritual guidance and support to the congregation. Further up the hierarchy, there could be a group of pastors or ministers responsible for preaching, teaching, and pastoral care. At the top of the pyramid, there might be a bishop, archbishop, or other senior clergy who oversee multiple congregations or churches within a specific region.
The specific number of levels can vary significantly depending on the denomination and its specific organizational structure. Some churches may have additional levels or titles within their leadership team, while others may have a simplified structure with fewer levels. Ultimately, the leadership team in the church is designed to facilitate the governance, pastoral care, and spiritual direction of the congregation.
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We suppose an economy defined by:
Y=10000 ; G = 2000 ; T = 1000 ;
r (real interest rate) = 3%;
C = 400 + 0.6 (Y-T) ;
Lo (factors that affect demand of moeny) = 5 ;
Ms (money supply) = 15000 ;
Mg (growth rate of money) = 10% ;
Yg (growth rate of Y) = 7%
question : If M increase by 3%, the P increase by ? ( the options I have are : 1.22%/1.23%/1.24%/1.25%)
Answers
Answer:
Explanation:
To find the percentage increase in P if M increases by 3%, we need to use the equation for the quantity theory of money, which is:
M * V = P * Y
Where M is the money supply, V is the velocity of money, P is the price level, and Y is the output of the economy.
If M increases by 3%, then the new value of M can be found by multiplying the old value of M by 1 + the percentage increase:
M' = M * (1 + 0.03) = 15000 * 1.03 = 15450
We can then solve for the new value of P by substituting the new values of M and Y into the equation:
P' = (M' * V) / Y = (15450 * V) / 10000 = 1.5450 * V
We can then find the percentage increase in P by taking the difference between the new value of P and the old value of P, and dividing by the old value of P:
Percentage increase in P = (P' - P) / P = (1.5450 * V - 1) / 1 = 0.5450 * V
So the percentage increase in P is 0.5450 * V.
Henry recently set up a retail store in his hometown. He studied the pattern that other storeowners followed in obtaining new customers. All their current customers had referred the store to their friends and family. Their awareness basically spread through word-of-mouth. Henry knew that his store offered the same quality as the other stores did. His store was also on the same street as the other retail stores. Given the setting, the other storeowners were already charging their customers the bare minimum in order to remain competitive. Which P of marketing should Henry concentrate on to distinguish his retail store?
Answers
Answer :
Promotion is the P of marketing Henry may focus on to differentiate his retail shop.
Explanation :
In marketing, there are seven (7) P's that make up the marketing mix. The four (4) most important P's in the marketing mix are P-product, P-price, and P-place. P-promotion According to the text, Henry cannot utilize the first P, which stands for product, because he is aware that his store offers the same quality as the others.
Henry can't utilize the second P, Price, as a marketing technique since he knows that other business owners are already charging the bare minimum to stay competitive. Henry can't utilize the third P, which stands for Place, because his business is on the same street as the other retail stores, and he can't improve on that. Henry's lone marketing tool for beating the competition is the fourth P, which stands for Promotion.
This is because word-of-mouth knowledge established by other business owners is insufficient to create widespread awareness; word-of-mouth can only reach friends and relatives. As a result, the P in marketing that Henry may use is Promotion. He may achieve this by creating global awareness through advertisements on television, radio, social media, printing handbills, and sales promotions such as lottery draws, festive sales, clearance discounts, and offering consumers bonuses such as the buy three, get one free promotion.
which of these statements is descriptive of a market economy?A. There are more mixed economies in the world than any other kind.B. There is a high degree of individual freedomC. people become unhappy with aspects of their current economyD. Major economic decisions are made by individuals, not for them
Answers
Option B. There is a high degree of individual freedom is the statement that is descriptive of a market economy.
In a market economy, the factors of production are privately owned, and economic decisions are made by individuals and businesses based on their own self-interest. There is a high degree of individual freedom to engage in economic activities and to make choices about what to produce, how to produce it, and for whom to produce it. The market system relies on the price mechanism to allocate resources and coordinate economic activity, and it operates with minimal government intervention. In a market economy, the government's role is limited to enforcing property rights, contracts, and other laws necessary to maintain a functioning market. Government intervention is usually limited to correcting market failures, such as externalities or monopolies, which can distort the efficient allocation of resources.
By contrast, in a command economy, economic decisions are made by a central authority, usually the government, and individual freedom is limited. In a mixed economy, there is a combination of market-based and command-based features.
So, in summary, a market economy is characterized by a high degree of individual freedom to engage in economic activities, make choices, and operate businesses. Economic decisions are made by individuals and businesses based on self-interest, and the government's role is limited to maintaining a functioning market.
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one key feature of current consumer technologies is that they
Answers
The key feature of current consumer technologies is their emphasis on convenience, portability, user-friendliness, and seamless integration.
One key feature of current consumer technologies is their emphasis on convenience and seamless integration into everyday life. In today's fast-paced and interconnected world, consumers demand technologies that can simplify tasks, enhance productivity, and provide instant access to information and services.
One aspect of convenience is the portability and mobility of consumer technologies. Devices such as smartphones, tablets, and laptops are designed to be compact, lightweight, and easily carried around, enabling users to stay connected and access their digital resources from anywhere at any time. This portability allows consumers to work remotely, communicate on the go, and access a wide range of applications and services on demand.
Another important feature is the user-friendly interface and intuitive design of consumer technologies. Manufacturers strive to create devices and software that are easy to use, even for individuals with limited technical expertise. Intuitive touchscreens, voice commands, and simple navigation systems make it effortless for consumers to interact with their devices and access the desired features or information.
Seamless integration is also a key aspect of modern consumer technologies. The ability to connect and synchronize different devices and platforms enhances convenience and efficiency. For example, cloud storage services enable users to access their files and data from various devices seamlessly. Smart home systems allow for the integration of different devices and appliances, enabling users to control their home environment with ease.
Additionally, consumer technologies often incorporate features like artificial intelligence (AI) and machine learning to personalize experiences and anticipate user needs. AI-powered virtual assistants, for instance, can understand natural language and perform tasks based on user commands, providing personalized recommendations, reminders, and assistance.
In summary, the key feature of current consumer technologies is their emphasis on convenience, achieved through portability, user-friendly interfaces, seamless integration, and personalized experiences. These features aim to simplify tasks, enhance productivity, and seamlessly integrate technology into the fabric of everyday life.
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most financial analysts do not expect much further change in the way americans use banks and money. t/f
Answers
False. The statement that most financial analysts do not expect much further change in the way Americans use banks and money is not accurate. In fact, financial analysts anticipate ongoing changes and evolution in the way Americans use banks and money.
The second paragraph explains the answer.
The financial industry is continuously evolving, driven by advancements in technology, changing consumer preferences, and shifts in the economic landscape. With the rise of digital banking, mobile payments, and financial technology (fintech) innovations, the way Americans interact with banks and handle their money has already undergone significant transformations. These changes are expected to continue as new technologies emerge, such as blockchain and cryptocurrencies, which have the potential to disrupt traditional banking systems. Moreover, evolving consumer behaviors, preferences, and expectations, coupled with regulatory changes, can also influence how Americans use banks and manage their finances. As a result, financial analysts anticipate further changes and adaptations in the banking and financial services sector to cater to the evolving needs and demands of consumers.
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Why does the demand curve facing a monopolistically competitive firm slope downward in the long run, even after the entry of new firms?
Answers
Answer:Firms will face perfectly elastic demand curves only if their products are perfect substitutes for the products of other firms.
Explanation:
Answer:Why does the demand curve facing a monopolistically competitive firm slope downward in the long run, even after the entry of new firms?
Explanation:
Where can i withdraw money from my emerald card for free
Answers
You can withdraw money from your Emerald Card for free at various locations, including MoneyPass ATMs and Walmart MoneyCenters.
The Emerald Card is a prepaid debit card offered by H&R Block for tax refunds and other financial services. When it comes to withdrawing money from your Emerald Card, there are several options available. One of the most convenient and cost-effective ways is to use MoneyPass ATMs. MoneyPass is a network of ATMs that offer surcharge-free withdrawals for Emerald Cardholders. By using a MoneyPass ATM, you can avoid paying additional fees for your cash withdrawals.
Another option for free withdrawals is Walmart MoneyCenters. Many Walmart locations have MoneyCenters where you can withdraw money from your Emerald Card without incurring any fees. These MoneyCenters provide a range of financial services, including check cashing and money transfers.
However, it's important to note that there may be fees associated with certain transactions or when using ATMs outside of the designated network. Non-network ATMs may charge their own surcharge fees, which would be separate from any fees imposed by H&R Block or the Emerald Card. It's recommended to review the terms and conditions of your Emerald Card and check for any applicable fees before making withdrawals to ensure you are aware of any potential charges.
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with respect to expanding opportunities for ict environmental contributions, what term is associated with the issues such as leed certified buildings, smart motors, and industrial robots?
Answers
The term that is associated with the issues such as LEED-certified buildings, smart motors, and industrial robots with respect to expanding opportunities for ICT environmental contributions is automation.
What is Automation?Automation is a form of application of technology to machines that are usually used in homes, industries, and also manufacturing companies. Automation can have a very positive impact on environmental sustainability because with this automation, machines can have a scheduling system that regulates the start time and stop time of the machine. Apart from that, there is also an idle feature on a machine that already has automation so that it can reduce the electrical power used when it is idle. This automation is usually used in smart motors, industrial robots, and also in LEED-certified buildings.
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Red Inc purchased 32% of Mile Corporation's outstanding common
stock as a long-term investment on January 2, 2021. The following
information relates to Miles' real estate assets.
Answers
Depreciation of $ 18,432 using straight-line depreciation Red Inc will claim in 2021 as a result of its investment in Miles.
To calculate depreciation using straight-line depreciation method:
Cost of building = $ 576,000 (Given)
Salvage value = $0 ( assuming it has no value since no information is provided)
Useful life = 10 years (Given)
Depreciation = (Cost - Salvage Value) / Useful Life
= ($576,000 - $0) / 10
= $57,600
Since, Red Inc owns 32% of Mile Corporation's outstanding common stock , it would also claim 32% of the depreciation expense.
Therefore, Red Inc would claim $18,432 i.e (57600 * 32%) as straight-line depreciation in 2021 for its investment in Miles Corp.
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The complete question is:
1. Red Inc purchased 32% of Mile Corporation's outstanding common stock as a long-term investment on January 2, 2021. The following information relates to Miles' real estate assets.
Book value Fair value
Building $576,000 $682,000
Land 747,000 874,000
The remaining useful life of the building is 10 years. How much straight-line depreciation would Red Inc claim in 2021 as a result of its investment in Miles?
Under the federal Bankruptcy Code, the exemption amount for the debtor's personal residence is:
a) 21,625 (20,200)
b) 37,100
c) unlimited
d) 50,000
Answers
The correct answers are: a) 21,625 (20,200) and d) 50,000
Under the federal Bankruptcy Code, there is an exemption amount for the debtor's personal residence. This exemption allows the debtor to keep a certain amount of equity in their residence, which means that it cannot be taken by creditors or sold off in bankruptcy proceedings.
The exemption amount for the debtor's personal residence varies depending on the state in which the debtor resides. However, in general, the federal exemption amount for the debtor's personal residence is $25,150 per person or $50,300 for a married couple filing jointly.
This means that if the debtor has equity in their residence up to the amount of the exemption, they can keep their residence and not have to sell it to pay off creditors. For example, if a married couple filing jointly has $45,000 of equity in their residence, they would be able to keep their home and still have $4,700 of exemption left over.
It's important to note that the exemption amount for the debtor's personal residence is subject to change over time, and it's essential to consult with a bankruptcy attorney to determine what exemptions are available in your specific situation.
In conclusion, the federal exemption amount for the debtor's personal residence is an essential protection for individuals facing bankruptcy. It allows them to keep their residence and avoid the prospect of losing their home to pay off creditors.
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An economy with a larger involvement in foreign trade:
1) is more likely to suffer a larger trade imbalance.
2) may measure its exports as a share of GDP.
3) has a substantial trade imbalance.
4) has an underlying trade imbalance.
Answers
An economy with larger involvement in foreign trade may measure its exports as share of GDP.
What is an export?Exports are products and services that are made in one nation and offered to customers in another. Imports and exports both make up global trade. Nations frequently choose on purpose to conduct business in foreign markets around the world, which give the possibility of greater income and transactional opportunities, as opposed to limiting themselves to their own borders. Export agreements are typically really strategic, and nations exchange them to make sure that their own nation can distribute goods for greater domestic revenue through imports as well as get the things they need via export. Keeping this in mind, governments may be able to influence political conditions by influencing exports. In response to the conflict in Ukraine, the White House issued an executive order that prohibited the import and export of certain products from Russia.
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All of the following actions lead to the payment of a credit card fee EXCEPT... a) Using your credit card to get cash from an ATM. b) Using your credit card to purchase items in a foreign country. c) Paying your credit card bill ten days after the Due Date. d) Paying your credit card bill in full and on time every month.
Answers
Answer:
d) Paying your credit card bill in full and on time every month
Explanation:
Credit cards are a convenient manner to pay for shopping and other expenses. However, they have numerous interest charges that may add to huge amounts if one is not careful.
Credit card charges interest on bill paid after their due date. Paying the entire credit card bill at the end of every month is one way of avoiding penalties.
Using a credit card to withdraw cash attracts charges, the same as making foreign transactions.
Answer:
d) Paying your credit card bill in full and on time every month
Explanation:
The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2019. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 9 and March 23 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2019. The gym membership is for a dedicated facility for employees and spouses.
Benefit Information Exclude: Federal FICA
Health Insurance Yes Yes
Life Insurance Yes Yes
Long-term Care Yes Yes
FSA Yes Yes
401(k) Yes No
Gym No No
Owner's name: Toni Prevosti
Address: 820 Westminster Road, Bridgewater, VT 05520.
Phone: 802-673-2636
Number of employees: 8 Gross
Quarterly wages: $32,085. 15
Federal income tax withheld: $628. 00
401(k) contributions: $1,259. 90
Insurance withheld: $4,080. 00
Gym membership: $90. 00 (For the pay-period completed till March 23).
Monthly Deposits Amount
Month 1 $0
Month 2 $2,008. 18
Month 3 $2,904. 72
Required:
Complete Form 941 for Prevosti Farms and Sugarhouse
Answers
The total amount owed for federal income taxes, Social Security and Medicare taxes, and federal unemployment taxes is $10,437.42. The Form 941 is a quarterly tax return for employers to report and pay their federal income taxes, Social Security and Medicare taxes, and federal unemployment taxes.
Based on the information provided, the first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2019. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the March 9 and March 23 payroll periods and the new benefit elections went into effect as planned. The form was completed and signed on April 10, 2019.
The gross quarterly wages for the 8 employees is 32,085.
1,259.90.Insurancewithheldis4,080.00, and the gym membership for the pay-period completed till March 23 is $90.00.
The monthly deposits for the three months are:
Month 1: $0
Month 2: $2,008.18
Month 3: $2,904.72
The total amount owed for federal income taxes, Social Security and Medicare taxes, and federal unemployment taxes is $10,437.42. This amount should be reported on Form 941 and paid by the deadline of April 15, 2019.
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Whistle Works manufacturers safety whistle keychains. They have the following information available to prepare their master budget:
October: $42000
November: $45000
December: $50400
Whistle Works sells each whistle for $12. They have a desired ending inventory for production of 20% of the next month's budgeted sales in units. How many units does Whistle Works need to produce in November?
Answers
The number of units that Whistle Works need to produce in November is 3,840 Units.
Here, we are going to calculate the number of units that Whistle Works need to produce in November.
Units for November = Total Sales / Selling Price Per Unit
Units for November = $45,000 / $12
Units for November = 3,750 Units
Units for December = Total Sales / Selling Price Per Unit
Units for December = $50,400 / $12
Units for December = 4,200 Units
Units to be Produced in November = 80% * Expected Sales in November + 20% * Expected Sales in December
Units to be Produced in November = 80 % * 3,750+ 20% * 4,200
Units to be Produced in November = 3,000 + 840
Units to be Produced in November = 3,840 Units
Therefore, the number of units that Whistle Works need to produce in November is 3,840 Units.
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What is the first thing the law requires you to do when you arrive at an intersection? Explain what you should do if there is an officer directing traffic.
Answers
Answer:
If a law enforcement officer if directing traffic where there are traffic lights, OBEY the officer – not the signals. You must yield the right-of-way to all other traffic and pedestrians at stop signs. Move forward only when the road is clear. At four-way signs, the first vehicle to stop should move forward first.
The very first action we do is stop at the junction as if it were a red light and waiting for police to notify you when it is safe to go.
Explanation:
If a police officer directs traffic in an area with traffic signals, respect the officer rather than the signals. At stop signs, you must surrender the right-of-way to all other cars and pedestrians. Only proceed when the road is clear. When approaching a four-way stop, the first car to halt shall proceed first.
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What gives commodity money its value? a government’s guarantee of its value the type of material with which it is made its rate of exchange in other countries the ability to trade it for a valuable good
Answers
Answer:
B. the type of material with which it is made
Explanation:
Money can be defined as any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
Also, an exchange can be defined as the process of providing goods and services by an individual or organization, to meet the needs of customers in exchange for an amount of money.
Hence, the type of material with which money is made is what gives commodity money its value because it is based on the perception of the buyer and seller of goods and services. A commodity money simply refers to money that derives its value from the commodity with which it is created from. Some examples of commodity money are gold, diamonds, silver, cowry, cocoa, copper and other valuable resources.
Answer:
B is correct
