Jason is working as a junior accountant at MNC Manufacturing. He had joined MNC since his graduation from university almost a year ago. Brian, his senior during university, had recommended the job to him. Brian had been working at MNC as an accountant for about three years. Jason is happy with his job at MNC.
Answers
Jason is a junior accountant at MNC Manufacturing, who joined the company a year ago after his graduation from university, and he is happy with his job. Brian, his senior from university, recommended the job to him.
Jason began working at MNC Manufacturing after completing his university education. He received the job recommendation from his senior, Brian, who has been working as an accountant at MNC for about three years. This shows that Brian's experience at MNC may have influenced Jason's decision to join the company as well. As a junior accountant, Jason is likely working under the guidance of more experienced accountants like Brian, allowing him to learn and develop his skills in the accounting field.
Jason's job as a junior accountant at MNC Manufacturing, which was recommended by his university senior Brian, has resulted in a positive work experience for him. This illustrates the value of networking and seeking advice from experienced professionals when making career decisions.
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Complete question :
Jason is working as a junior accountant at MNC Manufacturing. He had joined MNC since his graduation from university almost a year ago. Brian, his senior during university, had recommended the job to him. Brian had been working at MNC as an accountant for about three years. Jason is happy with his job at MNC. His colleagues in the accounting department and his superiors, including the Chief Financial Officer (CFO), treated him well. In the course of his work, Jason discovered that MNC had changed its inventory method from the weighted average method to the first-in-first-out (FIFO) method for the financial year ended 31 December 2021. Using the latest set of draft financial statements of MNC and other financial information that he had access to, Jason did some rough calculations. He discovered that the change in inventory method resulted in an increase in net profit of $28 million and a corresponding increase in net assets of $28 million. Jason also discovered that MNC had an existing loan contract with ABC Bank which included a debt covenant that was based on the debt-equity ratio, and MNC would have violated the debt covenant in the loan contract if the inventory method had not been changed. Jason approached Brian and told him what he had discovered. He asked Brian why MNC had changed its inventory method. Brian said he was instructed to inform the auditors that the reason for the change of method was that FIFO was the inventory method selected by many companies in the same industry as MNC. However, he was aware that if the inventory method had not been changed, MNC would have breached the debt covenant in its loan contract. Jason asked Brian whether he should inform their superiors about the matter. Brian felt there were no issues with the change of inventory method since there was a legitimate reason for the change. Besides, he felt that if the debt covenant in the loan contract was breached, MNC may face severe consequences. ABC Bank may demand for the immediate repayment of the loan or may charge a higher interest for the loan. Since MNC borrowed a substantial amount from ABC bank, the consequences imposed by the bank for the technical default might affect the company's ability to operate in the near future and this might, in turn, affect their job security. Brian advised Jason to ignore what he discovered and not to tell anyone else about the matter. He said, "Jason, you may not care much about losing your job, but surely you don't want to be the one to cause all your colleagues to lose their jobs." Required: (a) Assuming you are Jason, analyse the ethical issues that you encounter in the situation described above, based on the Josephson's Six Pillars of Character and the Institute of Singapore Chartered Accountants' (ISCA) Code of Professional Conduct and Ethics. (b) Assuming you are Jason, examine the possible courses of action to deal with the ethical issues discussed in Question 2(a) and justify the appropriate action or actions to take.
Related Questions
Which email message has a negative tone? (NEEDED SOON!!)
a. “We will see you next week.”
b. “How was your birthday?”
c. “There’s nothing we can do about it.”
d. “I hope you are feeling better soon.”
Answers
“There’s nothing we can do about it”
A,B and D have a positive tone.
But C sounds kinda mean
Explain the limitations of statistics
Answers
Option A requires eight years of higher education and $80,000, while option B
requires four years of higher education and $45,000. Option B requires
time and
money
Answers
Answer:
A less,less
Explanation:
because option A requires 8 year of higher education and $80,000. but option B only requires four years of higher education and $40,000
Option A requires eight years of higher education and $80,000, while option B requires four years of higher education and $45,000. Option B requires less time and less money because option A requires 8 years of higher education and $80,000 but option B only requires four years of higher education and $40,000. Thus, option 'A' is the correct option.
What do cost and time effective mean?Business managers must deal with two fundamental issues: time and expenses. These two topics have a lot in common. For instance, you can incur a fee and an increase in costs if you miss a deadline. Similarly to this, if money is tight you could feel pressured to finish a project sooner in order to cut down on labour costs. Thus, managing time and expenditures concurrently provide several advantages for your company.
When practising time and cost management, it is frequently impossible to complete all of the original recommendations. You eventually learn to set priorities and choose which initiatives are worthy of your time, money, and attention. You must discover strategies to improve your efficiency if you want to accomplish more with the money and time you have available.
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What direction of change in velocity could explain the price level increasing by a smaller percentage than the money supply? What would this change in velocity imply about the frequency with which money changes hands?
Answers
1. A direction of change in velocity that explains an increase in price level by a smaller percentage than the money supply is: A decrease in velocity.
2. An effect of this change in velocity (decrease) with respect to the frequency with which money is exchanged (changes hands) is that: A decline or decrease in velocity simply means that money changes hands less frequently.
What is money?
Money can be defined as a recognized economic unit that is generally accepted by the people as a medium of exchange for goods and services, as well as repayment of debts such as loans and taxes across the world.
Hence, money is a financial asset that is typically used for the purchase of goods and services.
What is the velocity of money?
The velocity of money refers to a measure of the rate at which money is being used by consumers for the purchase of goods and services.
Basically, the velocity of money can be used to achieve the following:
Measure the economic and financial health of a country.Measure the rate at which money is being exchanged (changes hands).Measure the circulation of money in an economy.Mathematically, the velocity of money is calculated by using this formula:
\(V = \frac{PY}{M}\)
Where:
P is the price level.M is the quantity of money.Y is the level of production or quantity of output.Generally, an increase in price level by a smaller percentage than the quantity of money supplied represents a decrease in the velocity of money. Also, an effect of a decrease in velocity with respect to the frequency with which money is exchanged (changes hands) simply means that money changes hands less frequently.
In conclusion, the frequency with which money is exchanged (changes hands) should be equal to the quantity of money in an economy multiplied by the average number of times each unit of currency (money) is being spent by the people living in a country.
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Please read the following case study carefully and answer the questions that follow.
When Stephanie Mayer first started working as an office assistant with AOC Enterprises Limited, she was eager and enthusiastic. She was determined to prove herself a valuable employee, so she willingly accepted additional duties and responsibilities. She eventually found that she had more work than she could manage and was unable to type some essential documents before they were due. She told her supervisor that she had placed them on her desk the previous evening, but apparently someone had moved them. When reprimanded by her supervisor, she became offended and reminded him how much she usually does for the business. She withdrew her enthusiasm and began complaining that her boss was ungrateful.
List THREE positive and THREE negative qualities that Stephanie displayed. (6points)
State TWO poor decisions Stephanie made. (2 points)
Suggest THREE ways in which Stephanie could have prevented this conflict. (6 points)
Explain how the business can be affected by the deterioration of the relationship between Stephanie and her supervisor. (4 points)
Answers
The positive qualities that Stephanie displayed include passion, determination, self-reliance while the negative qualities that she displayed include impatience, apathy, and lack of respect.
The poor decisions that were made by Stephanie include:
Complaining about how ungrateful her supervisor was.Shouting back at her supervisor rather than trying to resolve the issue.The ways that Stephanie could have prevented this conflict include:
Explaining what really happened to her supervisor.Not complaining about the ungratefulness of her boss.She could have been patient as well rather than confronting her supervisor.The deterioration of the relationship between Stephanie and her supervisor can bring about disunity in the workplace and this can lead to lower productivity.
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Did the entrepreneur(s) get a deal from at least one Shark?
Answers
Answer:
One entrepreneur struck an agreement on-air with a shark that never materialized, and another struck a bargain that the shark later backed out of.
Explanation:
What modern-day learning technique is most similar to apprenticeship?
Vocational training, where students learn the skills they need for new careers through hands-on practice
Elementary school, where students learn academic and social skills under the constant supervision of an adult
O Continuing-education training, where working people learn more about their current professions
Graduate school, where students who have graduated from college go on to further academic studies
Answers
Answer:
Elementary school, where students learn academic and social skills under the constant supervision of an adult
Answer:
the 2nd option
Explanation:
Explain in brief about Vermi-compost
Answers
Vermicompost is a type of organic fertilizer that is produced by the decomposition of organic matter by worms.
It is a nutrient-rich substance that is produced by the digestive system of earthworms, which break down organic matter such as food waste, plant debris, and animal manure.
The process of vermicomposting involves creating a compost bin filled with bedding material, such as shredded newspaper or cardboard, and adding worms to the mixture. The worms then feed on the organic matter in the bin, breaking it down into a nutrient-rich compost that can be used to fertilize plants.
Vermicompost is highly beneficial for soil health, as it contains a range of nutrients that are essential for plant growth, including nitrogen, phosphorus, and potassium. It also contains beneficial microorganisms that can help to improve soil structure and enhance plant growth.
Vermicompost is a sustainable and eco-friendly alternative to traditional chemical fertilizers, as it is produced from organic waste materials and does not contain harmful chemicals or pollutants. It is easy to produce at home using a compost bin and a small number of worms, making it an accessible option for gardeners and farmers.
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________ power is when one channel member threatens to punish or punishes another channel member for not undertaking certain tasks, such as delaying payment for a late delivery.
Answers
Coercive power is when one channel member threatens to punish or punishes another channel member for not undertaking certain tasks, such as delaying payment for a late delivery.
What is coercive power?The use of force, threats, and other forms of coercion to induce a response is known as coercive power.For instance, a boss who threatens to demote, fire, or suspend a misbehaving employee is using coercive power.A manager's capacity to compel an employee to follow instructions by threatening to discipline the employee if the employee disobeys the order is known as coercive power.The deployment of force is the most crucial idea concerning coercive power to comprehend.To learn more about coercive power. refer,
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Which most strongly drives producers in a free-market economy?
utility satisfaction
government planning
coercion
profit motive
Answers
The factor that most strongly drives producers in a free-market economy is the profit motive.
What is a free-market economy?A free-market economy is an economy in which forces of demand and supply determine how goods and services are allocated or supplied without government intervention.
In a free-market economy, the profit motive is a factor that most strongly drives producers because their aim is to maximize profit by selling at the highest price possible.
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Wilson Wonders's bonds have 12 years remaining to maturity. Interest is paid annu- ally, the bonds have a S1,000 par value, and the coupon interest rate is 10%. The Yield to Maturtty for Annual Payments bonds sell at a price of S850. What is their yield to maturity?
Answers
Answer:
approximate YTM = 12.16%.
Explanation:
the approximate yield to maturity = {coupon + [(face value - market value) / n]} / [(face value + market value) / 2]
approximate yield to maturity = {100 + [(1,000 - 850) / 12]} / [(1,000 + 850) / 2] = 112.5 / 925 = 0.1216 = 12.16%
An investor that purchases this bond at $850 can expect to earn a 12.16% return.
Which of the following is NOT true of the type of game known as the prisoner’s dilemma?
A) It is a zero-sum game.
B) it is a non-zero-sum game.
C) it is a situation in which two firms achieve the worst outcomes if both act in their own best interest.
D) It is characteristic of industries with two dominant competitors
Answers
The prisoner's dilemma describes a situation in which two parties, who are separated and unable to communicate, must each decide whether to cooperate with the other or not.
What is a prisoner's dilemma game?Two people are forced to decide whether to cooperate with one another in the prisoner's dilemma while they are separated and unable to communicate. When both parties agree to cooperate, everyone benefits most.
a game in which all players make self-interested, rational decisions that worsen the situation for everyone.
A decision-making and game theory paradox known as the "prisoner's dilemma" shows that two rational decision-makers acting in their own self-interest cannot come up with the best possible outcome.
A non-zero-sum game known as the "Prisoner's Dilemma" is typically used in game theory to analyse cooperation (Axelrod, 1984). A "defect" or "cooperate" move are the options available to the two players in the game.
Therefore, the correct answer is option a) It is a zero-sum game.
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a. streamlines operations which saves money for the company. b. helps the company respond to changes quickly. c. automates reporting which makes the role of the managerial accountant obsolete in turn saving money. d. replaces different software allowing for more uniformity across functions and regions.\
Answers
With the exception of c. automating reporting, an ERP has all of the above benefits, which together result in cost savings by eliminating the need for managerial accountants.
The work of managerial accountants changes along with the business environment. These accountants provide management guidance on a variety of areas and are increasingly involved in decision-making. This is how the role of management accountants has changed and grown.
Management accountants are employed by public companies, private businesses, and governmental agencies. In addition to tracking and crunching the numbers, they are in charge of risk management, investment selection and management, budgeting, planning, strategy, and decision-making.
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Complete Question:
All of the following are advantages of an ERP except?
a) automates reporting which makes the role of the managerial accountant obsolete in turn saving money
b)streamlines operations which save money for the company
c)helps the company respond to changes quickly
d)replaces different software allowing for more uniformity across functions and regions.
What is missing from this goal that is preventing it from being a SMART goal?
Goal: I want to be successful right after high school by getting a job.
This goal is NOT
O Specific
0 Measurable
O Attainable
O Relevant
O Timely
Answers
Although most STEM careers require workers to earn bachelor's degrees, high school graduates can qualify for some STEM careers. Which of these jobs do not require post-secondary education?
O Museum Conservator and Anthropologist O Electronic and Industrial Engineering Technicians
O Social Science Research Assistant and Park Naturalist
O Non-Destructive Testing Specialist and Surveying Technician
Answers
Answer:
I think C if its not D
Explanation:
The job which does not require post-secondary education is Non destructive Testing Specialist and Surveying Technician. Thus, the correct answer is D.
What are STEM careers?STEM is the acronym for Science, Technology, Engineering, and Math.STEM education fosters critical thinking, improves knowledge acquisition, and empowers the next generation of entrepreneurs.
These refer to the best career help in the growth of a country and stability of economy. It is a demanding job that requires highly qualified candidates. This will help in introducing technology and encourages innovation.
Therefore, option D Non-Destructive Testing Specialist and surveying technician is the correct answer which only requires a secondary degree.
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when resources are allocated in such a way that it is possible to increase the production of one good only by decreasing the production of another, then the allocation of resources is said to be . (enter one word in the blank).
Answers
When resources are allocated in such a way that it is possible to increase the production of one good only by decreasing the production of another, then the allocation of resources is said to be Inefficient.
What is an inefficient allocation of resources?The allocative inefficiency is usually characterized by the absence of equality between marginal rates of substitution and factor price ratios: and this means that output is not produced at minimum cost.
Therefore, the allocation of resources is said to be Inefficient.
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Am I beautiful please give a honest reply.
Answers
Answer:
ive never met you but your always pretty on th einside :3
Explanation:
yes you are queen dwell on the beauty of life. Watch the stars, and see yourself running with them.
an efficient capital market is one in which: taxes are irrelevant. brokerage commissions are zero. securities always offer a positive npv. all investments earn the market rate of return. security prices reflect all available information.
Answers
An efficient capital market is one in which security prices reflect all available information.
An efficient capital market is a market where all available information is reflected in the prices of securities, and prices rapidly adjust to new information. This means that all relevant information about a security, such as its financial performance, future prospects, and economic factors, is already reflected in its market price.
As a result, investors cannot consistently achieve above-average returns by using this information to make investment decisions. An efficient market is characterized by a high degree of competition among investors, a large number of market participants, low transaction costs, and an absence of any trading restrictions or barriers.
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Written Problem 1: Morris Company, a small manufacturing firm, wants to acquire a new machine that costs $30,000. Arrangements can be made to lease or purchase the machine. The firm is in the 40% tax bracket. The firm has gathered the following information about the two alternatives: Lease: Morris would obtain a five-year lease requiring annual end-of-year lease payments of $10,000. The lessor would pay all maintenance costs; insurance and other costs would be borne by the lessee. Morris would be given the right to exercise its option to purchase for $3,000 at the end of the lease term Purchase: Morris can finance the purchase of the machine with an 8.5% five-year loan requiring annual end-of -year installment payments. The machine would be depreciated under MACRS using a five-year recovery period. The exact depreciation rates over the next six periods would be 20%, 32%, 19%, 12%, 12% and 5% respectively. Morris would pay $1200 per year for a service contract that covers all maintenance costs. The firm plans to keep the machine and use it beyond its five-year recovery period. a. Calculate the after-tax cash outflow from the lease for Morris Company. Show your work. b. Calculate the annual loan payment. Show your work. c. Determine the interest and principal components of the loan payments. Show your work. d. Calculate the after-tax cash outflows associated with the purchasing option. Show your work. e. Calculate and compare the present values of the cash outflows associated with both the leasing and purchasing options. Show your work. f. Which alternative is preferable? Explain
Answers
a. The after-tax cash outflow from the lease for Morris Company can be calculated by subtracting the tax savings from the lease payments. The lease payments are $10,000 per year, and since the lessor pays all maintenance costs, there are no additional expenses. The tax savings can be calculated as the lease payments multiplied by the tax rate (40%):
Tax savings = Lease payments * Tax rate
Tax savings = $10,000 * 0.40
Tax savings = $4,000
After-tax cash outflow from the lease = Lease payments - Tax savings
After-tax cash outflow from the lease = $10,000 - $4,000
After-tax cash outflow from the lease = $6,000
b. The annual loan payment can be calculated using the formula for the present value of an annuity. The loan amount is $30,000, the interest rate is 8.5%, and the loan term is five years:
Annual loan payment = Loan amount / Present value annuity factor
Annual loan payment = $30,000 / 3.9935 (from the present value annuity factor table)
Annual loan payment = $7,508.14
c. The interest component of the loan payments can be calculated by multiplying the loan balance at the beginning of each year by the interest rate. The principal component can be calculated by subtracting the interest component from the annual loan payment. The loan balance at the beginning of each year can be calculated by subtracting the accumulated depreciation from the initial loan amount:
Year 1:
Interest component = Loan balance (Year 1) * Interest rate
Principal component = Annual loan payment - Interest component
Year 2-5:
Interest component = Loan balance (Year n) * Interest rate
Principal component = Annual loan payment - Interest component
d. The after-tax cash outflows associated with the purchasing option include the annual loan payment, the service contract cost, and the tax savings from depreciation. The service contract cost is $1,200 per year. The tax savings from depreciation can be calculated by multiplying the accumulated depreciation for each year by the tax rate.
e. The present values of the cash outflows associated with both the leasing and purchasing options can be calculated by discounting the after-tax cash outflows using an appropriate discount rate. The present value is calculated by dividing the cash outflow by (1 + discount rate) raised to the power of the number of years.
f. To determine which alternative is preferable, compare the present values of the cash outflows for leasing and purchasing. The option with the lower present value would be the more favorable choice. Additionally, consider other factors such as the company's financial situation, future plans, and the specific benefits or drawbacks of each option.
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You are told that if you invest $11,000 per year for 23 years( all payments made at the end of each year) you will have accumulated $366,000 at the end of the period What annual rate of return is the investment offering.
Answers
Answer:
3.2%
Explanation:
this is an ordinary annuity:
future value of an ordinary annuity = annual payment x future value annuity factor
$366,000 = $11,000 x future value annuity factor
future value annuity factor = $366,000 / $11,000 = 33.2727
you can solve this in two ways:
the first is with a lot of math work in order to solve the following equation
33.2727 = [(1 + i)²³ - 1] / i
or
you can use an annuity calculator (available online) which will yield 3.2%
Which of the following goods is most likely to be associated with monopolistic competition?
a) gasoline
b) milk
c) cookies
d) wheat
Answers
The correct answer is c) cookies is most likely to be associated with monopolistic competition.
A monopolistic competition is created by product differentiation, free entry, and several different firms or rivals. a system for a shared market in which several rival manufacturers sell goods that are unique from one another (ie. the products are substitutes, but are not exactly alike). Restaurants, cereals, apparel, and shoe businesses are examples of monopolistic competitive marketplaces. The most frequent sort of monopolistic competition is found at fast food outlets like McDonald's and Burger King, which offer hamburgers. The two businesses listed above sell items of a sort that is quite similar to one another, yet they are not interchangeable.
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advantages of collaborative office layouts
Answers
Answer:
By far, one of the greatest benefits of breaking down literal walls in the office is increased collaboration.
Explanation:
When multiple people are working in the same space, they are more likely to share ideas and ask for input.
savvy sightseeing had beginning equity of $73,000; revenues of $93,000, expenses of $66,000, and dividends to stockholders of $9,100. there were no stockholder investments during the year. calculate ending equity.
Answers
Beginning with the given information, we start with a beginning equity of $73,000. We then add the revenues, which amount to $93,000, and subtract the expenses, which total $66,000.
This calculation gives us the net income, which is the difference between revenues and expenses, equal to $27,000. Next, we subtract the dividends paid to stockholders, which amount to $9,100. To calculate the ending equity of Savvy Sightseeing, we need to consider the beginning equity, revenues, expenses, and dividends.
Dividends represent the portion of the company's earnings distributed to its shareholders. By subtracting the dividends from the net income, we arrive at the retained earnings, which is $17,900 ($27,000 - $9,100). Finally, to calculate the ending equity, we add the retained earnings to the beginning equity. In this case, the ending equity would be $90,900 ($73,000 + $17,900).
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When setting your premium, your car insurance company may consider each of the following EXCEPT
How many miles you drive per year
Your age
Your driving record
Your height
Answers
Your auto insurance company may take into account each of the following factors, excluding height, when determining your premium.
An insurance agreement (policy) is a contract whereby an insurer consents to reimburse another party for losses caused by particular risks or catastrophes. Private insurance come in a variety of types. Life, health, homebuyers, and auto insurance are the most common varieties. The cost, policy limit, and premium are the three main elements that make up the majority of insurance contracts. The essential premise behind insurance is also that one party—the insurer—will commit to a monetary commitment to cover a future catastrophe that is uncertain. In the meantime, another party—the insured or policyholder—pays the insurer a lower premium in interaction for that security against that hazy future event.
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write an explanation of how the iPhone goes from a design at Apple to a retail store shelf. Include at least four steps in the process.
Answers
The journey of the iPhone from designing at apple to retail stores includes sending the design to the manufacturing unit where the materials are selected, then these material is arranged based on the design then polishing and finishing took place, and at last shipped to different countries' outlets.
What is iPhone?An iPhone is the latest smart device introduced by the organization named apple with unique features of advanced technology. This phone provides the features of a computer in the phone itself.
The journey of the iPhone from design at apple to retail store shelf includes-
Decision-making for material selectionDevelopment of Device body partsAssembly of body parts and finishing which includes glass finishingTransported to various outlets.Learn more about Apple Iphone, here:
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Question 4 (10 points)
The ABC Company executives decide that they will begin to produce more gidgets
than gadgets. They previously had been producing 500,000 gadgets per year and
only 300,000 gidgets. Yet they noticed that at the end of the year, there were still
100,000 gadgets left on the shelves and no gidgets.
a. In an answer of at least one paragraph, explain why the company would want to
produce more gidgets based on this market data.
b. In an answer of at least one paragraph, explain why the ABC Company's decision
involves a trade-off and identify what the trade-off is.
Answers
Answer:
A. In an answer of at least one paragraph, explain why the company would want to produce more gidgets based on this market data.
Explanation:
The company has 100000 gadgets left in the stock and no gidgets
Answer:
The company has 100000 gadgets left in the stock and no gidgets
Explanation:
The ABC Company executives decide that they will begin to produce more gidgets only 300,000 gidgets. Yet they noticed that at the end of the year, there were still
Faldo Corp sells on terms that allow customers 45 days to pay for merchandise. Its sales last year were $325,000, and its year-end receivables were $60,000. If its DSO is less than the 45-day credit period, then customers are paying on time. Otherwise, they are paying late. By how much are customers paying early or late? Base your answer on this equation: DSO - Credit Period = Days early or late, and use a 365-day year when calculating the DSO. A positive answer indicates late payments, while a negative answer indicates early payments.a. 21.27b. 22.38c. 23.50d. 24.68e. 25.91
Answers
Answer:
b. 22.38
Explanation:
The credit period to pay for merchandise is 45 days, sales for last year = $325,000, therefore sales/day (daily sales) = $325,000/365 = $890.41
Year-end receivables = $60,000
Company DSO = Year-end receivables/ daily sales = $60000/$890.41 = 67.38
The difference between the Company DSO and credit period determines if the payment is early or late. A positive answer indicates late payments, while a negative answer indicates early payments.
Therefore, Company DSO - credit period = 67.38 - 45 = 22.38
Since the difference is positive, it is a late payment
On January 8, an applicant filled out an application for a life insurance policy but did not include the initial premium. The insurance company approved the application on January 14 and issued the policy January 15. The producer delivered the policy on January 26 and collected the first premium. When did the coverage become effective
Answers
Answer: January 26
Explanation:
A life insurance policy is simply a contract that an individual has with an insurance company whereby the individual makes premium and in turn, the insurance company would have to give a death benefit, to the beneficiaries of the insurance policy once the insured dies.
Based on the information in the question, the coverage become effective on January 26 which was the day the policy was delivered and the first premium was collected.
The coverage of the life insurance policy becomes effective on 26th January.
A life insurance policy is an agreement between a policyholder and a life insurance company. In return for premiums paid by the policyholder during their lifetime, a life insurance policy promises the insurer will pay an amount of money to one or more named beneficiaries after the covered person passes away.
Life insurance is a binding agreement that provides the policyholder with a death payout in the event that the covered person passes away.
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Consider the balance-sheet entries for War Eagle Corporation in Table (a) Compute the firm's Current assets: Current liabilities: Working capital: Shareholders' equity: (b) If the firm had a net income of $500,000 after taxes, what are the earnings per share? (c) When the firm issued its common stock, what was the market price of the stock per share? Table Balance Sheet Statements as of December 31, 2015
Answers
The balance sheet for War Eagle Corporation can be seen as follows:
(a) Current assets: $1,500,000 (Cash War Eagle Corporation can be analyzed to compute the following:) + $500,000 (Accounts Receivable) + $200,000 (Inventory) = $2,200,000
Current liabilities: $300,000 (Accounts Payable) + $200,000 (Notes Payable) = $500,000
Working capital: $2,200,000 (Current Assets) - $500,000 (Current Liabilities) = $1,700,000
Shareholders' equity: $1,000,000 (Common Stock) + $500,000 (Retained Earnings) = $1,500,000
(b) Earnings per share: $500,000 (Net Income) / 100,000 (Number of Shares) = $5 per share
(c) Market price of the stock per share: $1,000,000 (Common Stock) / 100,000 (Number of Shares) = $10 per share
In conclusion, the current assets for War Eagle Corporation are $2,200,000, the current liabilities are $500,000, the working capital is $1,700,000, the shareholders' equity is $1,500,000, the earnings per share are $5, and the market price of the stock per share is $10.
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Adam plans to invest $1500 today in a mutual fund. If he earns 12 percent interest compounded monthly, to what amount will his investment grow in 20 years? Use a financial calculator to make the calculation. a. $12,450 b. $17,289 c. $15,897 d. $18,546 e. $16,339
Answers
Answer:
e. $16,339
Explanation:
Effective Annual rate = {(1 + r / m)^m - 1}
Where r= 12%, m=20
=[(1 + 12% / 12) ^ 12 ] - 1
= [(1 + 1%) ^ 12] - 1
= 1.1268 - 1
= 0.1268
= 12.68%
Value of investment after 20 year = $1,500 × (1 + 12.68%) ^ 20
= $1,500 × 10.8926
= $16,339