The given statement that when two countries choose to partake in international trade, it is a mutually beneficial activity for both countries is true.
How does trade between countries benefit both parties?Through commerce, nations can access commodities and services that might not otherwise be accessible domestically and grow their markets. Market competition has increased as a result of global trade. This ultimately leads to more competitive pricing, which lowers the cost of the final product for the consumer.
When two nations decide to engage in international trade, it is a decision that benefits both nations. A nation can consume a variety of things that are outside the bounds of its initial manufacturing capabilities through specialization and trade.
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Gordon purchased real estate for $900,000 and listed title to the property as "Gordon and Fawn, joint tenants with right of survivorship." Gordon predeceases Fawn when the real estate is worth $2,900,000. Gordon and Fawn are brother and sister.
What are the gift and estate tax consequences?
If an amount is zero, enter "0".
a. Gordon made a gift when the real estate was purchased of $_____ to Fawn.
b. Gordon's estate must include $______ as to the property.
c. How would the estate tax consequences change if it was Fawn (not Gordon) who died?
Fawn's estate would include $___0___ as to the property.
Answer:
a. Gordon made a gift when the real estate was purchased of $450,000 to Fawn.
Since Gordon gave 50% of the real estate to his sister as a gift when he purchased it, the gift must be valued at the time it happened ($900,000 x 50%)
b. Gordon's estate must include $2,900,000 as to the property.
Gordon purchased all the real estate by himself, so his estate must include the value of the whole property.
c. How would the estate tax consequences change if it was Fawn (not Gordon) who died?
Fawn's estate would include $0 as to the property.
Since Fawn didn't buy the property, her estate cannot include any amount of it.
Mary Walker, president of Rusco Company, considers $23,000 to be the minimum cash balance for operating purposes. As can be seen from the following statements, only $18,000 in cash was available at the end of this year. Since the company reported a large net income for the year, and also issued both bonds and common stock, the sharp decline in cash is puzzling to Ms. Walker.
Rusco Company
Comparative Balance Sheet
at July 31
This Year Last Year
Assets
Current assets:
Cash and cash equivalents $18,000 $36,600
Accounts receivable 203,600 213,900
Inventory 252,700 197,800
Prepaid expenses 9,100 18,600
Total current assets 483,400 466,900
Long-term investments 99,000 135,000
Plant and equipment 866,000 753,000
Less accumulated depreciation 211,500 190,900
Net plant and equipment 654,500 562,100
Total assets $1,236,900 $1,164,000
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $177,700 $233,300
Accrued liabilities 8,300 15,600
Income taxes payable 44,400 40,500
Total current liabilities 230,400 289,400
Bonds payable 209,000 106,000
Total liabilities 439,400 395,400
Stockholders’ equity:
Common stock 630,400 615,000
Retained earnings 167,100 153,600
Total stockholders' equity 797,500 768,600
Total liabilities and stockholders' equity $1,236,900 $1,164,000
Rusco Company
Income Statement
For This Year Ended July 31
Sales $860,000
Cost of goods sold 537,500
Gross margin 322,500
Selling and administrative expenses 230,050
Net operating income 92,450
Non-operating items:
Gain on sale of investments $21,500
Loss on sale of equipment (6,600 ) 14,900
Income before taxes 107,350
Income taxes 32,190
Net income $75,160
The following additional information is available for this year.
The company declared and paid a cash dividend.
Equipment was sold during the year for $46,400.
The equipment originally cost $96,000 and had accumulated depreciation of $43,000.
Long-term investments that cost $36,000 were sold during the year for $57,500.
The company did not retire any bonds payable or repurchase any of its common stock. Because the Cash account decreased so dramatically during this year, the company’s executive committee is anxious to see how the income statement would appear on a cash basis.
Required:
1. Using the direct method, adjust the company’s income statement for this year to a cash basis.
2. Using the data from (1) above, and other data from the problem as needed, prepare a statement of cash flows for this year.
Answer:
Cash Basis adjustments -12,000
Explanation:
Adjustments to convert company's income statement to cash basis:
Depreciation Expense $20,000
Gain on sale of long term Investment - $ 10,000
Loss on sale of equipment $2,000
Increase in Account receivable -$40,000
Decrease in Prepaid Expense $4,000
Increase in Inventory -$50,000
Increase in Accounts Payable $63,000
Decrease in Accrued Liability -$9,000
Increase in Deferred Tax Payable $8,000
The Retained Earnings balance was $24,100 on January 1. Net income for the year was $19,900. If Retained Earnings had a credit balance of $26,200 after closing entries were made for the year, and if additional stock of $6,400 was issued during the year, what was the amount of dividends declared during the year?
Please see attachment as well there is a problem that I need help as well....Thank You!
Answer: $17800
Explanation:
The opening balance of Retained earnings = $24,100
Net Income for the year = $19,900
Closing balance of Retained earnings = $ 26,200
The, the amount of dividends declared during the year = (opening balance) +(Net Income) -( Closing balance)
= $ (24100+19900-26200)
= $17800
Hence, the amount of dividends declared during the year is $17800.
The general ledger of Zips Storage at January 1, 2018, includes the following account balances: Accounts Debits Credits Cash $ 25,300 Accounts Receivable 16,100 Prepaid Insurance 13,400 Land 155,000 Accounts Payable $ 7,400 Deferred Revenue 6,500 Common Stock 150,000 Retained Earnings 45,900 Totals $ 209,800 $ 209,800 The following is a summary of the transactions for the year: a. January 9 Provide storage services for cash, $141,100, and on account, $55,700. b. February 12 Collect on accounts receivable, $52,200. c. April 25 Receive cash in advance from customers, $13,600. d. May 6 Purchase supplies on account, $10,600. e. July 15 Pay property taxes, $9,200. f. September 10 Pay on accounts payable, $12,100. g. October 31 Pay salaries, $130,600. h. November 20 Issue shares of common stock in exchange for $34,000 cash. i. December 30 Pay $3,500 cash dividends to stockholders. The following information is available for the adjusting entries. Insurance expired during the year is $7,700. Supplies remaining on hand at the end of the year equal $3,600. Provide services of $12,500 related to cash paid in advance by customers.
Prepare the journal entries for transactions?, income statement and trial balance.
Answer:
Explanation:
The objective of this question is to prepare he journal entries for transactions?, income statement and trial balance.
To start with the journal entries:
Date Account Title and Explanation Debit $ Credit $
Cash 141,100
Jan 9, 2018 Accounts Receivable 57,000
Service Revenue 196,000
(To record service revenue)
Feb 12 Cash 52,200
Accounts Receivable 52,200
(To record cash collection on
accounts receivable )
Apr 25 Cash 13,600
Unearned Revenue 52,200
(To record cash in advance
from customers )
Ma 06 Supplies 10,600
Accounts Payable 10,600
(To record cash purchase of
supplies on account)
Jul 15 Property taxes 9,200
Cash 9,200
(To record payment of
Property taxes )
Sep 10 Account Payable 12,100
Cash 12,100
(To record payment on
accounts payable)
Oct 31 Salaries expense 130,600
Cash 130,600
(To record salaries paid)
Nov 20 Cash 34,000
Common stock 34,000
(To record issues of common
stock)
Dec 30 Dividends 3,500
Cash 3,500
(To record Cash dividends)
Adjusting entries:
Date Account Title and Explanation Debit $ Credit $
Dec 31 Supplied Expense ( $10,600 - 7000
$3,600)
Supplies 7000
(To record the supplies used )
Insurance Expense 7,700
Prepaid Insurance 7,700
(To record Insurance expired)
Unearned Revenue 12,500
Service Revenue 12,500
(To record unearned service
revenue)
As a result of bulkiness and wide columns for the income statement and trial balance which the text editor for typing the answer cannot contain; I've have created a word document showing the table format of the income statement and trial balance.
SEE BELOW FOR THE ATTACHED FILE.
Say you own an asset that had a total return last year of 17 percent. Assume the inflation rate last year was 3.6 percent. What was your real return?
The Fisher equation, which shows the exact relationship between nominal interest rates, real interest rates, and inflation, is:
(1 + R) = (1 + r)(1 + h)
r = [(1 + .17) / (1 + .036)] - 1
r = .12934, or 12.93%
An increase in the average price level of an economy over time is referred to as inflation. Money loses value as a result of inflation. Consumer price index (CPI) and producer price index are the two most used inflation indicators (PPI). The consumer price index tracks changes in the price of a typical market basket bought by an urban family each month, provided the same products are bought. When a basket of commodities costs more, inflation has occurred. The cost increase of the basket as a percentage is equal to the rate of inflation. When the products in the basket are cheaper, there has been deflation. It is critical to remember that some of the items may change in value more rapidly than the general rate of inflation.
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How would you manage poor forecasting?
Answer:
ways to manage poor forecasting are-
1. ensure opportunities are realistic and achievable
2. regularly revisit the long-term forecast
3. improve bad data and bad input
4. improve sales forecast with a mix of art and science
5. track competitor promotional offers
6. develop a flexible process
7. set aside time
8. don't get too complicated.
if you find it useful, give me a brainliest.
There are different ways to manage poor forecasting in business, some of which include the following:
Confirm that the opportunities are rational and feasible;Constantly evaluate the long-term prediction;Analyze and rearrange poor data and input;Assess sales forecast using methodical approach;Create a method to monitor competitor promotional offers;Build creative process, etc.Poor forecasting in business can affect investment and business operation negatively.
Hence, in this case, it is concluded that there are different ways to manage poor forecasting in business.
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Most social assistance workers are employed by what type of organization? local government state government federal government private businesses
Answer:
D. Private business
Explanation: correct on e2020
Answer:
d : private businesses
Explanation:
got it right
How does finance and insurance affect in our global economy?
The ways that finance and insurance affect our global economy include:
Capital allocationRisk managementHow can finance and insurance affect the economy ?Finance plays a crucial role in allocating capital to its most productive uses. Through the provision of financial services such as banking, investment, and asset management, finance channels funds from savers to investors, supporting economic growth and development.
Insurance plays a vital role in managing risk and protecting individuals and businesses from potential losses. By spreading risk among a large pool of insured individuals or companies, insurance enables businesses to invest and take on new opportunities with greater confidence, contributing to economic growth and stability.
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Kevin owns a toy company. How should he ensure that his customers are receiving a high-quality product
A. Offer a discount on future purchases to customers
B. Repair products that have been sold to customers and are broken
C. Survey customers and ask for suggestions
D. Test a prototype
Option (d), Kevin owns a toy store. In this method, he may run a prototype test to ensure that his customers are receiving a high-quality product.
How do you know your customer service is top-notch?If you pay attention to your customers, acknowledge their needs, thank them, and create a warm, welcoming environment, they will think highly of you. A satisfied consumer is more inclined to buy more from you again. Additionally, they could suggest others to your business.
Kevin has several alternatives to ensure that his customers receive high-quality products.
One option is to test a prototype first to ensure the finished product satisfies the appropriate quality standards.Additionally, he may improve the quality of the finished product by using customer feedback. He may conduct client surveys and ask for suggestions in order to understand more about their preferences and goals.Kevin may also offer a warranty or guarantee on his goods and repair or replace any defective things that he has sold to customers.By doing this, he could demonstrate his concern for customer satisfaction and enhance his company's reputation as a producer of high-quality items.Learn more about customer satisfaction: https://brainly.com/question/28387894
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The store IKEA provides many
The store IKEA provides many products to as many people as possible.
What is IKEA's strategy?IKEA's strategy is based on providing a wide range of well-designed, functional products at affordable prices. They aim to offer a unique shopping experience, which includes a showroom-style store layout that encourages customers to browse and explore their products.
One of the key aspects of their strategy is their use of flat-pack furniture, which allows them to keep costs low by reducing transportation and storage costs. This also makes it easier for customers to transport the furniture home and assemble it themselves, further reducing costs.
Therefore, IKEA's strategy is focused on providing value to its customers through affordable, well-designed products, a unique shopping experience, and a commitment to sustainability.
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Ivan is upset because he feels that Yvette never listens to his ideas in meetings. In their last meeting he offered a suggestion, and Yvette responded by rolling her eyes and ignoring his comment. How should Ivan BEST approach Yvette and communicate with her to try to resolve this conflict?
A personal dialogue with Yvette asking why she never listens is the best first step to take. When the "why" is established, then using empathy and listening skills, Ivan can attempt to put himself in Yvette's shoes to hear the things he says from her perspective.
This will create understanding and help Ivan to be able to speak in the language that Yvette can understand, thus, resolving the conflict.
What is conflict?Conflict is defined as a fight and a collision of interests, opinions, or even values. A dispute will always exist in society, regardless of whether the source of the conflict is personal, racial, class, caste, political, or international.
Well-managed conflict results in improved engagement and creativity, whereas badly managed conflict results in increased stress and worry. Jobs that deal with people are more likely to cause conflict.
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Project: When It All Goes Wrong on Wall Street
Assignment Directions
1. Find a case which involved a bankrupt or closed securities firm, such as Enron or Lehman Bros. Research the case, and the
settlement. The easiest way to do this is to go to the SEC site, look at the regulatory actions against securities firms, and follow a
case. Here is the link ( sec.gov/spotlight/ enf-actions-fc.shtml or SEC Enforcement Actions, Addressing Misconduct That Led To or Arose From the Financial Crisis) to a current list of publicly traded companies that have been cited for SEC misconduct. As you can see, many of them are banks and securities firms and some of these firms are no longer in business. It is your job to research the firm and find out which ones on this list are no longer around. Then, follow the thread through the SEC, the courts,
and other reliable media such as Bloomberg, Wall Street Journal, or the New York Times. The most important thing to learn in
this assignment is how the enforcement process works. A second aspect of your research should include noting the stock price of this public firm before the regulatory actions and ultimate demise of the firm, and what the shareholders ended up receiving. You can find this information through the SEC enforcement reports and by using your browser to find historical information on share prices.
Submission Requirements
1. Write a report detailing the company that failed and what caused the failure. Describe the economic value and the cost to individual investors from a human perspective. Discuss how the regulatory system for securities worked or didn’t work and why. Was there any legislative or regulatory change because of this failure? Were there changes in society?
2. Your report should be 3 to 4 pages, double-spaced with 1-inch margins, and contain quantitive loss information from the failure (in other words the math), as well as a detailed narrative as to what went wrong. It also must show how the regulatory system for securities worked or didn’t work and why.
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Answer: was
Explanation:
Question 2 of 10
Which of the following is an advantage of using a periodic inventory system?
A. It is less time consuming than other methods.
B. It is relatively easy and inexpensive to set up.
An advantage of using a periodic inventory system is that It is less time-consuming than other methods.
What is a periodic inventory system?The periodic inventory system is a method of inventory valuation for financial reporting purposes in which a physical count of the inventory is performed at specific intervals.
What is a periodic inventory system for example?
Example of Periodic Systems. Periodic system examples include accounting for beginning inventory and all purchases made during the period as credits. Companies do not record their unique sales during the period to debit but rather perform a physical count at the end and from this reconcile their accounts.
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Pastore Inc. granted options for 1 million shares of its $1 par common stock at the beginning of the current year. The exercise price is $39 per share, which was also the market value of the stock on the grant date. The fair value of the options was estimated at $7.00 per option. What would be the total compensation indicated by these options
Answer:
$7,000,000
Explanation:
Calculation to determine What would be the total compensation indicated by these options
Using this formula
Total Compensation =Beginning options*Fair value of the options
Let plug in the formula
Total Compensation =1,000,000 shares × $7
Total Compensation =$7,000,000
Therefore What would be the total compensation indicated by these options is $7,000,000
operations management course concept
The operations management course concept refers to the systematic design, direction, and control of the processes that transform inputs such as raw materials, energy, and labor into outputs such as goods and services that satisfy customer needs.
This management process includes inventory management, scheduling, supply chain management, quality control, and more. The goal of operations management is to create efficient processes that maximize productivity while minimizing costs.
Students taking an operations management course learn about these concepts and how to apply them to real-world situations in various industries. They also study topics like process design, project management, lean principles, and decision-making models.
The course is usually offered as a part of business administration, engineering, or industrial technology programs. Graduates of the course may go on to careers as operations managers, logistics managers, supply chain analysts, process improvement specialists, or manufacturing engineers, depending on their areas of focus and interests.
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Question 7 of 10
Business health insurance plans are
A. required
B. varied
C. non-existent
D. uniform
so
You decide to decrease the price of your product to increase total sales revenue, because you believe your product's demand is
A) perfectly inelastic
B) unit elastic
C) price elastic
D) price inelastic
Answer:
C) price elastic.
Explanation:
In this firm commitment offering who bears the financial risk? Who would bear the risk in a best efforts offering?
An investment banker agrees to underwrite an issue of 10 million shares of stock for TWResearch, Inc. on a firm commitment basis. The investment banker pays $10.50 per share to TWResearch, Inc. for the 10 million shares of stock. It then sells those shares to the public for $11.20 per share.
Answer:
In a firm commitment offering, the investment banker bears the financial risk and buys the securities from TWResearch to sell to the public at its own terms.
In a best efforts offering, TWResearch, Inc. bears the financial risk and only makes its best efforts to sell the securities without buying them from TWResearch.
Explanation:
With a firm commitment offering, the investment banker enters into an agreement to purchase all the securities from TWResearch at an agreed price, and then, commits itself to selling the securities to the public at its own chosen price. As it pockets the ensuing gain or loss, the investment banker bears all the financial risk. With a best efforts offering, the investment banker does not assume inventory risk, but makes its best efforts in selling the securities. TWResearch bears the residual financial risk since the underwriter forwards to TWResearch all the proceeds from the issue, after deducting its commission.
An essay about umntu ngumntu ngabantu
Determine the missing amount:
Assets=Liabilities+owners Equity x 272000 573000
Based on the given amounts of assets and liabilities, the missing amount of Owner's equity is $301,000
How to find the equity?The Owners equity is one of the parts of the Accounting equation which is:
Assets = Liabilities + Owners Equity
The Assets in this instance is $573,000 and the Liabilities are $272,000.
The Owner's equity is the missing amount and it can be found as:
573,000 = 272,000 + Owners Equity
Owners Equity = 573,000 - 272,000
Owners Equity = $301,000
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Your enterprising uncle opens a sandwich shop that employs 15 people. The employees are paid $20 per hour, and a sandwich sells for $5. If your uncle is maximizing his profit, the value of the marginal product of the last worker he hired is______ $ , and that worker's marginal product is sandwiches per hour.
Answer:
The value of the marginal product of the last worker hired is $20
The marginal product of the last worker hired is 4 sandwiches per hour
Please kindly note the difference between the terms, value of marginal product and the term marginal product
Explanation:
Since the uncle is trying to maximize profit, then he will hire workers up to a point where the wages of the workers equals their marginal product value
Now, from the question, the value of the wages is $20 per hour, this also means that their marginal product too will be $20 per hour
This automatically means that the value of the marginal product of the last worker hired is also $20
Mathematically;
Value of marginal product = Marginal product * price
Thus, marginal product = value of marginal product/ price
= $20/$5 = 4
This means that the new worker hired marginal product is 4 sandwiches per hour
Other things remaining constant, when demand for a good or service decreases, which of the following occur(s)?
-Equilibrium price decreases
- Equilibrium quantity decreases
When demand for a good or service decreases, equilibrium price decreases and equilibrium quantity decreases. The correct options are a and b.
What are demand and supply?
Demand is the things people want, and supply is the number of things available for the demand.
Price decreases when demand declines, and Price increases when supply declines. A rise in demand moves the demand curve to the right, while a fall in supply moves the supply curve to the left.
Therefore, the correct options are:
a. Equilibrium price decreases.
b. Equilibrium quantity decreases.
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The question is incomplete. The missing options are given below:
Equilibrium price decreases
Equilibrium quantity decreases
Equilibrium price increases
Equilibrium quantity increases
define federal reserve system.
Answer:
The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest.
Explanation:
Allison lives in the United States and has just retired. It is the end of October 2018. She has long had dreams of cruising the fjords on the west coast of Norway, visiting Buckingham Palace in the United Kingdom, seeing the cherry blossoms in Japan, and going to the top of the Eiffel Tower in France. She last considered all four options on New Year's Day 2008. She would like to select her trip based on which country´s currency has subsequently weakened the most against the U.S. dollar. Where should she go on vacation?
Answer:
In 2015, an accounting gimmick gave Ireland a 26% growth rate in GDP. What does this event reflect about the nature of GDP?
Click card to see definition
If the measurement of economic activity evolves, GDP can change.
Explanation:
Based on the weakened conditions of a currency exchange against the U.S. Dollar between 2008 and 2018, it would be advisable for Allison to go on a vacation for visiting Buckingham Palace in the United Kingdom.
What is the significance of currency exchange?A currency exchange can be referred to or considered as the rate at which the currency of one country compares with the currency of any other country. U.S. Dollar is currently the strongest currency in the world.
When a comparison between the currencies like the American Dollar and Euros is done, it is found that there is a degrowth in the value of Euros against the dollars, and thus, vacation in such country will be cheaper for Allison to visit to.
Therefore, the significance regarding currency exchange has been aforementioned.
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eorge and Weezy received $30,200 of Social Security benefits this year ($12,000 for George; $18,200 for Weezy). They also received $5,000 of interest from jointly owned City of Ranburne Bonds and dividend income. What amount of the Social Security benefits must George and Weezy include in their gross income under the following independent situations
Answer:
$0
Explanation:
George and Weezy will not get any amount as social security benefit if they file married joint. The sum of their modified AGI plus the 50% of their social security benefit is [$5,000 + $8,000 + $15,100]. This equals to $28,100 which is below the minimum amount of social security.
Money does NOT include
a. Credit cards
b. Travelers checks
c. Checks against checking accounts
d. Debit cards
Answer:
check against checking account
How is creative thinking similar to a child’s thinking? A. Neither process restricts itself to logical solutions. B. Both thought processes always come up with fresh ideas. C. Both thought processes are simplistic. D. Both thought processes are linear
Answer: D. Both thought processes are linear
Explanation: I think I'm not too certain.
Increased capital investment is generally used for what business expenses?
A:capital expenditures
B:employee compensation
C:inventory purchases
D:health insurance
The goal of ____ is____ - A operations, environmental B. delegation, institutional C. specialization, efficiency D. departmentalization, transparency
The reason why we have specialization in businesses and other forms of life is for efficiency.
Why do we specialize?When people specialize in a certain role, they are able to become better at that role because they will not be distracted by having to learn other skills and will instead focus on the skills they need to specialize.
This allows them to become more efficient in their area of specialization as they will then be more proficient and learn to produce results faster.
In conclusion, option C is correct.
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In 2018, Southwestern Corporation completed the treasury stock transactions listed below.
February 2: Reacquired 67,000 shares at $11.70.
March 17: Sold 17,000 treasury shares at $13.85.
May 17: Sold 22,000 treasury shares at $7.85.
Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Prepare the journal entries to record the above transactions.
Answer:
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