Answer:
The demand curve would shift to the right and the supply curve would shift to the right
Explanation:
There will be a right shift in demand curve when there is an increase in demand, while there will be a right shift in supy curve when there is an increase in number of sellers or suppliers.
Here, a new medical study reports the benefits of cycling, and the price of parts needed to make bikes fall simultaneously, it is believed that the demand for bikes would increase.
Also, considering the fact that parts needed to produce bikes fall, there would likely be more producers of bike and this will also increase the supply of bikes.
Therefore, since there would be an increase in demand and supply of bikes, the demand curve for bikes would shift to the right and the supply curve would also shift to the right.
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. Assume that in 2015, an auction house sold a statute at auction for a price of $10,332,500. Unfortunately for the previous owner, he had purchased it in 2008 at a price of $12,585,000. What was his annual rate of return on this sculpture
Answer:
lost 321,785.71 a year
Explanation:
Assume that on October 1st Lee Corporation purchases all of the assets of Kay Corporation for $510,000. All of the identifiable assets of Kay Corporation have a fair market value of $420,000, including the patent, which has a fair market value of $36,000. Also, a covenant not to compete for 3 years costing $72,000 is included in the purchase agreement.
Required:
a. If lee Corporation purchases the patent for $36,000, how much amortization expense may Lee Corporation deduct in the current year?
b. Assume that Lee Corporation purchases all of the assets of Kay Corporation for $510,000. All of the identifiable assets of Kay Corporation have a fair market value of $420,000, including the patent, which has a fair market value of $36,000. Also, a covenant not to compete for 3 years costing $72,000 is included in the purchase agreement. How much amortization expense may Lee Corporation deduct in the current year?
Answer and Explanation:
According to the scenario, computation of the given data are as follow:-
a) Assume Remaining life = 10 years
Corporation purchases the patent = $36,000
Current Amortization Value (October to December)
= (Purchase Value of Patent ÷ Remaining Life) × number of months ÷ total number of months in a year
= ($36,000 ÷ 10) × 3 months ÷ 12 months
= $3,600 × 3 months ÷ 12 months
= $900
Lee Corporation deducted $900 amortization expenses in the current year.
b).Goodwill
= Assets Purchasing Value of Kay Corporation - Assets Purchasing Fair Market Value of Kay Corporation
= $510,000 - $420,000
= $90,000
Assume amortization period is = 15 years as it is for trade or business
Current Amortization Value (October to December)
= (Goodwill + Fair Market Value of Patent + Costing of 3 Years ÷ Amortization Period) × number of months ÷ total number of months in a year
= ($90,000 + $36,000 + $72,000 ÷ 15) × 3 months ÷ 12 months
= $13,200 × 3 months ÷ 12 months
= $3,300
Lee Corporation deducted $3,300 amortization expenses in the current year.
In the current year, Norris, an individual, has $59,000 of ordinary income, a net short-term Capital loss (NSTCL) of $9,100 and a net long-term capital gain (NLTCG) of $3,700. From his capital gains and losses, Norris reports:
A. an offset against ordinary income of $9,800
B. an offset against ordinary income of $3,000 and a NSTCL carryforward of $6,900
C. an offset against ordinary income of $3,000 and a NSTCL carryforward of $3,900
D. an offset against ordinary income of $3,000 and a NSTCL carryforward of $6,800
E. an offset against ordinary income of $2,900 and a NSTCL carryforward of $6,900
Answer: an offset against ordinary income of $3,000 and a NSTCL carryforward of $2,400
Explanation:
Feom the question, we are told that in the current year, Norris, an individual, has $59,000 of ordinary income, a net short-term Capital loss (NSTCL) of $9,100 and a net long-term capital gain (NLTCG) of $3,700.
From his capital gains and losses, Norris reports an an offset against ordinary income of $3,000 and the a net short-term Capital loss (NSTCL) balance carryforward will be the difference between the net short-term Capital loss (NSTCL) of $9,100 and a net long-term capital gain (NLTCG) of $3,700 and the offset against ordinary income. This will be:
= ($9100 - $3700) - $3000
= $5400 - $3000
= $2400
A cash flow series is increasing geometrically at the rate of 7% per year. The initial payment at EOY 1 is $4 comma 000, with increasing annual payments ending at EOY 20. The interest rate is 14% compounded annually for the first seven years and 5% compounded annually for the remaining 13 years. Find the present amount that is equivalent to this cash flow.
Answer:
$ 83,921.45
Explanation:
The present value of the cash flows can determined by discounting to today's terms all of the cash flows involved.
The cash flows for the first years were discounted using a 14% discount rate while the remaining years were discounted at 5% as shown in the attached.
A 5% coupon, 18-year annual bond has a yield to maturity of 6.2%. Assuming the par value is $1,000 and the YTM does not change over the next year, what will the price of the bond be today
Answer:
Price of Bond=$871.997
Explanation:
The price of a bond is the present value (PV) of the future cash inflows expected from the bond discounted using the yield to maturity.
Price of Bond = PV of interest payment + PV of redemption value
PV of interest payment
interest payment = 5%× 1,000 = $50
PV = A × (1- 1+r)^(-n)/r
r- 6.2%, n- 18, A- 50
PV = 50 × (1 -1.062^(-18))/0.062=533.341
PV of redemption
PV = FV × (1+r)^(-n)
PV = 1,000 × 1.062^(-18)= 338.655
Price of the stock = 533.3419 + 338.655
Price of Bond=$871.997
SuperGroup has expressed the intention to begin selling in other countries, including China, while still protecting its Superdry brand. This will mean determining the appropriate pricing strategies for each country, training and supporting an international sales force, and creating advertising campaigns. These activities all occur in what segment of the value chain?
Answer:
Marketing and sales segment.
Explanation:
A values chain consists of actions that a firm functioning in a public industry that performs in order to deliver a valuable product to the market. The idea value chain is based on the process view of a manufacturing organization as a system of subsystems that transforms and processes money, labor, and materials, etc. The marketing and sales is considered to be a primary function and include the creation of salesforce, advertising campaigns, and giving values to its customers, clients and partners.The new car you just purchased cost $25,499. You have saved $3,240 for the down payment (made at the time of purchase) and will finance the rest through a fully amortized installment loan from the car dealer. This loan has an interest rate of 5.25% compounded monthly and required an equal monthly payment for the next 72 months. Which of the following best represents the payment on interest (145)and principal (P45) associated with the 45th monthly payment?
1(45) = $1.02, P(45) = $360.05
1(45) = $0.03, P(45) = $361.04
I(45) = $274.89, P(45) = $86.17
|(45) = $41.54, P(45) = $319.52
Answer:
The correct option is |(45) = $41.54, P(45) = $319.52
Explanation:
Loan amount = Price - Down payment = $25499 - $3240 = $22259
Monthly interest rate = i = 5.25%÷ 12 = 0.004375
Number of installments = n =72
Monthly installment=$22,259 × (A/P,0.004375,72)
Calculating the interest factor;
[tex]\small (A/P,i,n)=\frac{i}{1-\frac{1}{(1+i)^{n}}}[/tex]
[tex]\small (A/P,0.004375,72)[/tex] = [tex]\frac{0.004375}{1-\frac{1}{(1+0.004375)^{72}}}[/tex] = 0.0162212
So,
Monthly installment=$22259 × 0.0162212= $361.0677
Now let us calculate the balance after 44th payment
B(44)= [$22,259 × (F/P,0.004375,44)] - [$361.0677 × (F/A,0.004375,44) ]
Calculating the interest factor;
(F/P,0.004375,44) = [tex](1+0.004375)^{44}[/tex] = 1.2117676
[tex]\small (F/A,i,n)[/tex] = [tex]\frac{(1+i)^{n}-1}{i}[/tex]
[tex]\small (F/A,0.004375,44)[/tex] = [tex]\frac{(1+0.004375)^{44}-1}{0.004375}[/tex] = 48.4040257
So,
B(44)= [$22,259 × 1.2117676] - [$361.0677 × 48.4040257] = $9495.6532
So, interest for 45th payment = I(45) = Balance due × Monthly interest rate
=9495.6532 ×0.004375
= $41.54
Principal associated with 45th payment=Monthly installment-Interest payment
=$361.0667 - $41.5435
= $319.5232
≅$319.52
A prospective MBA student earns $55,000 per year in her current job and expects that amount to increase by 7% per year. She is considering leaving her job to attend business school for two years at a cost of $40,000 per year. She has been told that her starting salary after business school is likely to be $100,000 and that amount will increase by 10% per year. Consider a time horizon of 10 years, use a discount rate of 13%, and ignore all considerations not explicitly mentioned here.
Assume all cash flows occur at the start of each year (i.e., immediate, one year from now, two years from now,..., nine years from now). Also assume that the choice can be implemented immediately so that for the MBA alternative the current year is the first year of business school.
What is the net present value of the more attractive alternative?
Please round your answer to the nearest dollar.
Answer:
The net present value of the more attractive alternative is the MBA alternative which is = $ 495,894
Explanation:
Solution
Recall that:
An MBA student earns = $55,000 per year on her present job
The expected amount increase = 7%
She considers leaving her job to attend business school at cost of =$40,000
Starting salary after business school= $ 100,00
Per year increment of amount = 10%
Number of years = 10
Discount rate = 13%
Now,
The present Net value of the present Job alternative = $ 435,568.05
or 435,568
Thus,
The present Net value of the MBA alternative = $ 495,893.60
or $495,894
So,
The present Net value of the MBA alternative is more than that of the current job alternative.
Hence, the net present value of the more attractive alternative = MBA alternative = $ 495,894
Note: Kindly find an attached copy of the of the solution to the given question below.
Spring is here, and Frances and her brother would like to go fishing for the weekend in Washington. Frances could either go to the river in town where anyone can fish without a permit, or she could drive up to a stream located on her family's property in the countryside to fish. Assume that, no matter where people fish, all of the fish that are caught would be kept (that is, there is no "catch and release" policy).
The fish in the private stream are considered (rival in consumption / nonrival in consumption) and (excludable / nonexcludable) whereas the fish in the river are (rival in consumption / nonrival in consumption) and (excludable / nonexcludable). In other words, the fish in the private stream are an example of (Private good, public good, club good, common resource), and the fish in the river are an example of (private good, public good, club good, common resource)
Fishing in the river will likely lead to (adverse selection, natural monopoly, tragedy of the commons) because of which of the following reasons?
1. Nobody will enjoy fishing because of the lack of private contributions to the maintenance of the river.
2. All fishermen will choose to fish in the stream believing that there are more fish there.
3. All fishermen will choose to fish in the river because of the limited access to the stream.
4. Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success.
Answer: Please refer to Explanation
Explanation:
A. The fish in the private stream are considered rival in consumption and excludable whereas the fish in the river are rival in consumption and nonexcludable.
When a good is said to be Rival in Consumption, it means that consumption of the good reduces the chances that others have of consuming the same good. Every Fish that Frances catches regardless of whether it is in the Private or the Non-Private stream, means one more fish that no one else will.be able to catch and consume.
Excludable goods are goods that one can refuse people access to if they have not paid or reached some sort of agreement with the owner of the good.
Non-Excludable Goods are goods that cannot be refused people access to. People can use them without having to pay a fee.
B. In other words, the fish in the private stream are an example of Private good, and the fish in the river are an example of a public good.
A Private Good is one that is Excludable and under the ownership of a person or entity who derives benefits from it and can choose whether or not to allow others the chance to get a benefit from the good as well. The Stream is private and so it is up to Frances's family as to who they want to use it.
Public goods are more often than not, Non-Excludable and open to use for the public. Anyone can use the river to fish without a permit thereby making the fish a Public good.
C. Fishing in the river will likely lead to tragedy of the commons because of which of the following reasons?
4. Anyone can fish in the river, and one person's fishing activity decreases the ability of someone else to fish with success.
The Tragedy of the Commons is refers to a situation described in Economics where because of a lack of restrictions on the use of a good, individual members of the public use the good in such a way that it is not sustainable which will lead to the depletion of the good.
Because anyone can fish in the river, one person fishing can reduce the ability of another person to get fish because the fish will keep going down if caught faster than they can reproduce.
Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 2019, are as follows: cost of merchandise sold, $6,100,000; administrative expenses, $740,000; interest expense, $25,000; rent revenue, $60,000; sales, $9,332,500; and selling expenses, $1,250,000. Prepare a single-step income statement. Refer to the lists of Labels, Accounts, and Amount Descriptions provided for the exact wording of the answer choices for text entries.
Answer and Explanation:
The preparation of the single step income statement is presented below:
Custom Wire & Tubing Company
Income Statement
Particulars Amount($)
Sales 9,332,500
less: cost of goods sold (6,100,000)
Gross profit 3,232,500
Add: rent revenues 60,000
less: expenses:
Administrative expenses (740,000)
Selling expenses (1,250,000)
Interest expenses (25,000)
Net Income 1,277,500
We simply added the revenues and deducted all expenses so that the net income could arrive
Concord is a book publisher that reissues old titles. The company offers these books with either a standard machine-glued hard cover or a deluxe, hand-embossed, hand-stitched, leather cover. Concord currently allocates overhead to the books based on direct labor hours. A recent activity analysis conducted by the controller revealed the following information. Standard Edition Deluxe Edition Units produced 479,000 10,000 Direct labor hours 526,900 32,000 Printing press hours 91,010 1,900 Sales orders 4,790 10,000.
Calculate the following for each product: (Round answers to 2 decimal places, e.g. 15.25.)
Answer:
(1). For the Standard Edition, it is = 526,900/479,000 = 1.1 DLH/unit.
For the Deluxe Edition, it is ,= 32,000/10,000 = 3.2 DHL/unit.
(2). For the Standard Edition, it is = 91,010/479,000 = 0.19 PPH/unit.
For the Deluxe edition= 1,900/10,000 = 0.19 PPH/unit.
(3). For the Standard Edition, it is = 4,790/479000 = 0.01 order per unit.
For the Deluxe edition = 10000/10000= 1 order per unit.
Explanation:
We are given the following parameters or data or infomation which is going to help us in solving this problem;
(A) for the Units produced;
=> Standard Edition = 479,000
=>Deluxe Edition = 10,000.
(B). For the Direct labor hours
=>Standard Edition = 526,900.
=>Deluxe Edition = 32,000.
(C). For the Printing press hours;
=> Standard edition= 91,010.
=> Deluxe edition= 1,900.
(D). For the Sales orders;
=> Standard edition= 4,790.
=> Deluxe edition = 10,000.
Hence;
DIRECT LABOR HOUR OER UNIT:
(1). For the Standard Edition, it is = 526,900/479,000 = 1.1 DLH/unit.
For the Deluxe Edition, it is ,= 32,000/10,000 = 3.2 DHL/unit.
PRINTING PRESS PER HOUR;
(2). For the Standard Edition, it is = 91,010/479,000 = 0.19 PPH/unit.
For the Deluxe edition= 1,900/10,000 = 0.19 PPH/unit.
SALES ORDER PER UNIT
(3). For the Standard Edition, it is = 4,790/479000 = 0.01 order per unit.
For the Deluxe edition = 10000/10000= 1 order per unit.
The following materials standards have been established for a particular product: Standard quantity per unit of output 5.0 meters Standard price $ 17.70 per meter The following data pertain to operations concerning the product for the last month: Actual materials purchased 7,900 meters Actual cost of materials purchased $ 143,780 Actual materials used in production 7,400 meters Actual output 1,450 units What is the materials price variance for the month
Answer:
Material price variance = $3,950 unfavorable
Explanation:
A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite.
$
7,900 meters should gave cost ( 7,900× 17.70) 139,830
but did cost 143,780
Material price variance 3,950 Unfavorable
Material price variance = $3,950
Find the account balance at the end of the second period for $3,000.00 invested at 9% compounded quarterly.
Answer:
A = $3136.51875
Explanation:
Given that :
The principal = $3,000.00
Rate = 9%
Time = 6 months
Since the amount is compounded quarterly;
r = 9/4 = 2.25 %
t = 6 months = 2 quarter
Using the formula:
A = P(1+r/100)^t
A = 3000.00(1+ 2.25/100)^2
A = 3000.00( 1+ 0.0225)^2
A = 3000.00 (1.0225)^2
A = 3000.00 (1.04550625)
A = $3136.51875
Which of the following statements is true regarding the Unrealized Loss on Investments account
A) It is contra to the Allowance to Adjust Short Term Investments to Market Value
B) It is reported on the income statement when it pertains to short term investments
C) It is debited when securities are sold for less than their purchase price
D) It is not reported on the financial statements; only realized gains and losses are reported
Answer:
B) It is reported on the income statement when it pertains to short term investments
Explanation:
Unrealised loss is defined as a reduction in the value of an asset that is held by an investor rather than selling it and realising a loss.
Unrealised loss is also called paper loss. This loss is not realised until the asset is sold.
Unrealised losses are not usually recorded on the income statement unless they intend to be sold in a short time.
When a security is to be sold in the short run it is called a trading security. Trading securities are represented in the income statement as they can increase or reduce income
Describe the six-step process of conducting an ethics audit in detail.
Answer: 1. Requesting Financial Documents.
2. Preparing an Audit Plan.
3. Scheduling an Open Meeting.
4. Conducting Onsite Fieldwork.
5. Drafting a Report.
6. Setting Up a Closing Meeting.
Explanation:
1. Requesting Financial Documents
the organisation should be notified about an upcoming audit, with the auditor requesting for documents listed on his audit checklist. This documents usually include copies of previous audit report carried out, bank statements, reciepts and ledgers.
2. Preparing an Audit Plan
the auditor uses the information contained in the documents provided for him to plan or map out how the audit would be conducted.
3. Scheduling an Open Meeting
the auditor is invited to a meeting with the admintrative staffs, and senior management to present his scope of the audit. This helps determine the time interval for the audit.
4. Conducting Onsite Fieldwork
the auditor uses information gotten from the open meeting to finalize or conclude his audit plans. After which a field work is conducted.
5. Drafting a Report
the auditor prepares a report show full details of his findings of the audit conducted.
6. Setting Up a Closing Meeting
the clos meeting helps the auditor get a feedback from the managemen, whinch indicates the managements approval or disapproval with problems presented in the audit report.
Allied made its first and only purchase of inventory for the period on
May 3 for 1,000 units at a price of $10 cash per unit (for a total cost of $10,000).
5 Allied sold 500 of the units in inventory for $14 per unit (invoice total: $7,000) to Macy Co. under credit terms 2/10, n/60. The goods cost Allied $5,000.
7 Macy returns 50 units because they did not fit the customer’s needs (invoice amount: $700). Allied restores the units, which cost $500, to its inventory.
8 Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for $300 toward the original invoice amount to compensate for the
damage.
15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount.
Required:
Prepare journal entries to record the following transactions for Allied assuming it uses a perpetual inventory system and the gross method. (Allied estimates returns using an adjusting entry at each year-end.)
Answer:
Perpetual Inventory System
Gross Method
Date Particulars Debit Credit
3 May Merchandise Inventory 10,000
Cash 10,000
May 3 for 1,000 units at a price of $10 cash per unit (for a total cost of $10,000).
5 May Accounts Receivable Macy 7000
Sales 7000
May 5 :Allied sold 500 of the units in inventory for $14 per unit (invoice total: $7,000) to Macy Co. under credit terms 2/10, n/60. The goods cost Allied $5,000.
5 May Cost of Goods Sold 5000
Merchandise Inventory 5000
May 7: Sales Returns 700
Accounts Receivable Macy 700
May 7: Macy returns 50 units because they did not fit the customer’s needs (invoice amount: $700). Allied restores the units, which cost $500, to its inventory.
May 7 Merchandise Inventory 500
Cost of Goods Sold 500
May 8 Sales Returns & Allowance 300
Accounts Receivable Macy 300
8 Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied sends Macy a credit memorandum for $300 toward the original invoice amount to compensate for the
damage.
May 15: Cash 6000
Sales Discounts 120
Accounts Receivable Macy 5880
Payment : $ 7000- $ 700 - $ 300= $ 6000
Discount : 2% of 6000= $ 120
May 15 Allied receives payment from Macy for the amount owed on the May 5 purchase; payment is net of returns, allowances, and any cash discount.
In which step of the planning process to managers identify the priorities and trade-offs among goals and plans
Answer:
Selection of goals and plans
Explanation:
When engaging in a project, the different stages involved can be broadly categorized into four. These include; the selection of goals and plans, the monitoring of these goals and plans, the implementation and evaluation of them.
The selection of the goals and plans is the first stage of the project planning. At this stage, goals as well as problems to be solved are identified. Trade-offs measure the quality of the project, while factoring in time and cost. Having an idea of the final quality would help in making changes possible along the course of the project.
This stage is then followed by the build up stage where goals are monitored and means to achieve them are initiated. The implementation and evaluation of these goals then follow.
Choose appropriate term from the list below for each of the following descriptions.
a. Executive Order 9066
b. English-Only Movement
c.Chinese Exclusion Act
d. Bilingual Education Act
e. Proposition 227 and 58
f. Meyer vs. Nebraska
g. Farrington vs. Tokushige
h. Lau vs. Nichols
i. Native American Languages Act
j. Bill of Rights for Deaf and Hard of Hearing Children
This federal legal act, signed in 1968 by President Lyndon B. Johnson. introduced a new type of education for students whose home language was not English. It was originally written for Spanish-speaking students, but
overtime it was changed to include all students who speak a language other than English. It signified the birth of the bilingual education movement but was replaced in 2001 by the No Child Left Behind legislation emphasizing
English Language Learning.
This was a law signed in 1942 by President Franklin D. Roosevelt authorizing the internment of tens of thousands of American citizens of Japanese ancestry and resident aliens from Japan, leading to the loss of language and
culture among tens of thousands of Japanese-Americans.
This was a 1927 case in which the Supreme Court of the United States unanimously stmck down the Territory of Hawaii's law which made the teaching of foreign languages illegal for schools. The Supreme Court argued that the
Hawaii law violated the due process clause of the Fifth Amendment.
This 1990 legislation passed by the US Congress declared it •the official policy of the United States government to preserve, protect, and promote the rights and freedom of Native Americans to use, practice, and develop Native
languages."
This was a 1923 case in which the Supreme Court of the United States struck down the 1919 Nebraska law restricting foreign-language education, specifically education in German.
This form of political activism advocates for the use of one language in the official United States government operations and a legal policy proclaiming an official national language. It also advocates against bilingual education.
This legislation, only passed by a handful of states so far. recognizes the not always deaf-friendly educational settings and proposes that every deaf child must have full access to all information, specialized personnel, school
programs, social activities, and extra-curricular activities and a right to acquire both English and American Sign Language (a natural visual language).
This 1882 federal law signed by President Chester A. Arthur was the first immigration law that allowed an absolute moratorium banning an entire ethnic group from entering the United States.
This was a 1974 Supreme Court ease which extended bilingual education to Chinese-speaking children in San Francisco, California, first, and, subsequently, everywhere in the United States, arguing that the lack of appropriate bilingual programs was a violation of the Civil Rights Act of 1964.
These laws have regulated the availability of bilingual programs in one of the largest states in the United States for the past 20 years,
Answer: Please refer to Explanation
Explanation:
a. Executive Order 9066
This was a law signed in 1942 by President Franklin D. Roosevelt authorizing the internment of tens of thousands of American citizens of Japanese ancestry and resident aliens from Japan, leading to the loss of language and culture among tens of thousands of Japanese-Americans.
b. English-Only Movement.
This form of political activism advocates for the use of one language in the official United States government operations and a legal policy proclaiming an official national language. It also advocates against bilingual education.
c.Chinese Exclusion Act.
This 1882 federal law signed by President Chester A. Arthur was the first immigration law that allowed an absolute moratorium banning an entire ethnic group from entering the United States.
d. Bilingual Education Act.
This federal legal act, signed in 1968 by President Lyndon B. Johnson. introduced a new type of education for students whose home language was not English. It was originally written for Spanish-speaking students, but
overtime it was changed to include all students who speak a language other than English. It signified the birth of the bilingual education movement but was replaced in 2001 by the No Child Left Behind legislation emphasizing
English Language Learning.
e. Proposition 227 and 58.
These laws have regulated the availability of bilingual programs in one of the largest states in the United States for the past 20 years. State in question is California.
f. Meyer vs. Nebraska.
This was a 1923 case in which the Supreme Court of the United States struck down the 1919 Nebraska law restricting foreign-language education, specifically education in German.
g. Farrington vs. Tokushige.
This was a 1927 case in which the Supreme Court of the United States unanimously struck down the Territory of Hawaii's law which made the teaching of foreign languages illegal for schools. The Supreme Court argued that the Hawaii law violated the due process clause of the Fifth Amendment.
h. Lau vs. Nichols
This was a 1974 Supreme Court ease which extended bilingual education to Chinese-speaking children in San Francisco, California, first, and, subsequently, everywhere in the United States, arguing that the lack of appropriate bilingual programs was a violation of the Civil Rights Act of 1964.
i. Native American Languages Act.
This 1990 legislation passed by the US Congress declared it •the official policy of the United States government to preserve, protect, and promote the rights and freedom of Native Americans to use, practice, and develop Native languages."
j. Bill of Rights for Deaf and Hard of Hearing Children.
This legislation, only passed by a handful of states so far. recognizes the not always deaf-friendly educational settings and proposes that every deaf child must have full access to all information, specialized personnel, school programs, social activities, and extra-curricular activities and a right to acquire both English and American Sign Language (a natural visual language).
A dealer buys 10,000 shares of ABC common at $20 for its inventory. One week later the stock is quoted at $22 - $23, and a customer sells 100 shares to the dealer at a net price of $21. Under the FINRA 5% Policy, a fair and reasonable mark-down is based upon which price?
Answer:
$22
Explanation:
According to the FINRA 5% Policy the mark-down if the customer sell must always be calculated from the inside bid price which is here $22 and if the customer is a buyer then the mark-up must be calculated using the inside ask price which is here $23. As the customer here is seller, hence the inside bid price $22 was appropriate here according to the FINRA 5% policy.
FINRA 5% policy says that the broker can not charge commissions, or markups or markdowns which is more than 5% on standard trades.
So the commission of $2 ($23-$21) is not allowed under this rule hence the appropriate price for the stock must be $22 not $21.
When using a pure chase strategy with hires and fires, calculate the number of employees needed to satisfy each period’s demand. Once you have established the number of employees needed, either hire or fire as required. Use the following data and the pure chase strategy to calculate the cost of satisfying demand in Periods 1 through 8: A B 4 Cost Data $12.505 Regular-time labor cost per hour $18.75 6 Overtime labor cost per hour $125.00 7 Subcontracting cost per unit (labor only) $25.00 8 Back-order cost per unit per period $10.00 9 Inventory holding cost per unit per period $800.00 10 Hiring cost per employee $500.00 11 Firing cost per employee1213 Capacity Data 14 Beginning workforce (employees) 15 Beginning inventory (units) 16 Production standard per unit (hours) 17 Regular-time available per period (hours) 18 Overtime available per period (hours) 19 20 Demand Data (units) 21 Period 1 192022 Period 2 2160 23 Period 3 144024 Period 4 1200 25 Period 5 204026 Period 6 240027 Period 7 174028 Period 8 150029 30 Total Number of Periods 8After evaluating the chase strategy, select all statements below which is are true. A. The total firing cost is larger than the total firing cost. B. The total hiring cost is $62,400.C. The total production cost is $1,548,900.D. The total hiring cost is larger than the total firing cost. E. Overtime labor cost is $200,000.F. The total regular-time labor cost is $1,440,000.
Answer:
B. The total hiring cost is $62,400
D. The total hiring cost is larger than the total firing cost.
E. Overtime labor cost is $200,000.
Explanation:
The hiring cost of the labor is greater than the firing cost because the company needs more workforce to meet the finished goods demand in the certain period. The hiring cost of the employees is $800 per labor and company needs 78 more labor to meet the demand. The total hiring cost will be $800 * 78 labors = $62,400.
Preparing budgeted income statement.
Gyro Company has the following totals from its operating budgets:
Selling and administrative expenses budget $244,500
Cost of goods sold budget 727,300
Sales budget 1,222,700
Prepare a budgeted income statement for the year ended December 31, 2011, assuming that income from operations is taxed at a rate of 30%.
Answer:
Budgeted net income is $175,630
Explanation:
The budgeted income statement for the year ended 31 December , 2 011 is presented below , starting with the sales budget amount while budgeted costs of good sold and selling and administrative expenses are deducted from sales,
Budgeted sales $1,222,700
costs of goods sold ($727,300)
operating income $495,400
Selling and administrative expenses ($244,500)
Profit before tax $250,900
Taxes($250,900*30%) ($75,270)
net income $175,630
On June 30, 2021, Blondie Fixtures was considering alternatives to bolster its cash position. Option One called for transferring $500,000 in accounts receivable to Dogwood Finance Company without recourse for a 5% fee. Option Two calls for Blondie to transfer the $500,000 in receivables to Dogwood with recourse. Dogwood's charges a 4% fee for receivables factored with recourse. Option Two meets the conditions to be considered a sale, but Blondie estimates a $4,000 recourse liability. Under either option, Dogwood will immediately remit 90% of the factored receivables to Blondie, and retain 10%. When Dogwood collects the remaining receivables, it remits the amount, less the fee, to Blondie, Blondie estimates that the fair value of the final 15% of the receivables is $24,500 (ignoring the factoring fee).
Required:
1. Prepare any necessary journal entry or entries if receivables are factored under Option One.
2. Prepare any necessary journal entry or entries if receivables are factored under Option.
Answer:
1. Prepare any necessary journal entry or entries if receivables are factored under Option One.
Dr Cash 450,000 (=90% × $500,000)
Dr Loss on sale of receivables 50,000
Cr Accounts receivable 500,000
Since the fair value of the remaining receivables ($24,500 ≤ $25,000) is less than the factoring fees, then the company should not expect to receive any more money and should record the loss immediately.
2. Prepare any necessary journal entry or entries if receivables are factored under Option (two)
Dr Cash 450,000
Dr Receivable from factor 4,500 (= fair value $24,500 - $20,000)
Dr Loss on sale of receivables 49,500
Cr Accounts receivable 500,000
Cr Recourse liability 4,000
Since the fair value of the remaining receivables is higher than the factoring fees ($24,500 ≥ $20,000), then you must report a factoring receivable. Any recourse liability increases the company's losses.
What does the Fair Labor Standards Act require?
Answer:
The Fair Labor Standards Act's (FLSA) basic requirements are:
Payment of the minimum wage;
Overtime pay for time worked over 40 hours in a workweek;
Restrictions on the employment of children; and.
Recordkeeping.
Explanation:
The Fair Labor Standards Act (FLSA) establishes basic wage, overtime pay, bookkeeping, and youth employment standards that apply to employees in the private sector as well as those employed by federal, state, and local governments.
What is the main objective of the Fair Work Act?The Fair Work Act's purpose is to establish a national workplace relations system that establishes minimum standards and conditions for employees and serves as the legal framework for employer-employee relations in the majority of Australian workplaces.
The 1938 law established a minimum wage, overtime pay, equal pay, record keeping, and child labor regulations. workers in interstate commerce or producers of interstate commerce goods Employees from the state, local government, and federal government previous case holding that employees were not covered.
Learn more about the Fair Work Act here:
https://brainly.com/question/3578453
#SPJ2
operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. End of Year Beginning of Year Cash and cash equivalents $ 770 $ 69 Accounts receivable (net) 1,950 1,880 Inventory 810 860 Other current assets 590 331 Total current assets $4,120 $3,140 Total current liabilities $2,030 $1,640 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover and days in inventory at the end of the current year. (Round current ratio to 2 decimal places, e.g. 1.83 and all other answers to 1 decimal place, e.g. 1.8. Use 365 days for calculation.) Current ratio :1 Accounts receivable turnover times Average collection period days Inventory turnover times Days in inventory days
Answer and Explanation:
The formulas and calculations are shown below:
1. Current ratio = Total Current assets ÷ total current liabilities
= $4,120 ÷ $2,030
= 2.03 times
2. Account receivable turnover
= Net credit sales ÷ Average accounts receivable
where,
Net credit sales is $8,258 million
And, the Average accounts receivable would be
= (Accounts receivable, beginning of year + Accounts receivable, end of year) ÷ 2
= ($1,880 + $1,950) ÷ 2
= $1,915
So, the accounts receivable turnover ratio would be
= $8,258 ÷ $1,915
= 4.3 times
3. Average collection period is
= Total number of days in a year ÷ account receivable turnover ratio
= 365 days ÷ 4.31 times
= 84.6 days
4. Inventory turnover ratio =
= Cost of goods sold ÷ average inventory
where,
Average inventory = (Opening balance of inventory + ending balance of inventory) ÷ 2
= ($860 + $810) ÷ 2
= $835 million
And, the cost of good sold is $5,328 million
Now put these values to the above formula
So, the answer would be equal to
= $5,328 million ÷ $835 million
= 6.4 times
5. Days in inventory
= Total number of days in a year ÷ inventory turnover ratio
= 365 days ÷ 6.38 times
= 57.2 days
President Zane is adamant about getting feedback from customers about how the company could improve. They gather data through surveys, face-to-face interactions, and by listening to conversations in the store or at events. Decisions based on this feedback are dependent upon _____.
Answer:
These are the options for the question:
A.credibility of the source
B.information quality
C.whether the information is negative or positive
D.the cost of obtaining the information
E.how the information is to be used
And this is the correct answer:
C.whether the information is negative or positive
Explanation:
Because the information is being gathered with the goal of obtaining feedback from the customers about how the company could improve, making such changes depend on whether the information is negative or positive.
If for example, all the customers gave positive feedback, then the company would not need to change anything about its operation: it would be satisfying customer expectations.
The decision that depend upon the feedback are based upon the information quality.
The following information should be considered:
As in the given case, President getting the feedback from the customers related to the improvement.The data should be gathered via surveys, face-to-face interactions.So here the decisions should be depend upon the quality of the information they received.Therefore we can conclude that The decision that depend upon the feedback are based upon the information quality.
Learn more: brainly.com/question/6201432
Karen White is saving to buy a house in five years. She plans to put 20 percent down at that time, and she believes that she will need $29,000 for the down payment. If Karen can invest in a fund that pays 9.40 percent annual interest, compounded quarterly, how much will she have to invest today to have enough money for the down payment
Answer:
$ 7,196.59
Explanation:
To determine the the amount that should be invested today, we will workout a sum that will be invested today at 9.40% that would amount to 29,000 five(5 ) years time.
FV = PV ×(1+r/)^n/m
r = 9.40/4= 2.35 per quarter
29,000= PV × (1.0235)^(5×12)
29,000 =PV × 4.029682413
= 29,000/4.029682413
PV = 7,196.59
The amount that should be invested today to have enough money
$ 7,196.59
Saul Company purchased a tractor at a cost of $180,000. The tractor has an estimated salvage value of $20,000 and an estimated life of 8 years, or 12,000 hours of operation. The tractor was purchased on January 1, 2019 and was used 2,400 hours in 2019 and 2,200 hours in 2020. What amount will Saul Company report as depreciation expense over the 8-year life of the equipment using straight-line depreciation
Answer:
Annual depreciation= $20,000
Explanation:
Giving the following information:
cost= $180,000.
The tractor has an estimated salvage value of $20,000 and an estimated life of 8 years
Under the straight-line depreciation method, the depreciation expense remains constant during the useful life. We need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (180,000 - 20,000)/8
Annual depreciation= $20,000
You work in the human resource department at the headquarters of a multinational corporation based in the US. Your company is about to send a number of managers overseas as expatriates to France and Mexico.
Requried:
You need to create an executive summary evaluating, comparing, and contrasting the possible issues expats may encounter in these two countries.
Answer:
EXECUTIVE SUMMARY:
Explanation:
1.There are many factors to consider that the company must bear in mind when sending these managers as expatriates.
In the following executive summary we will analyze what challenges must be faced according to the country where they will be sent.
In the case of France, the work environment is highly formal and follows a hierarchical structure already defined, so they must adapt to their role as manager and comply with the imposed requirements, which in turn is important.
As for the social and cultural sphere, it is important to comply with the punctuality and formality protocols required in each of the events or meetings to be held, in addition to feeling respect and admiration for them.
2. Regarding Mexico, the work environment is very healthy, and expatriates are highly respected and appreciated, although they must meet all the labor requirements and additional demands regarding extra work.
En el periódico lee que el PIB aumento debido a un incremento en las variables internas privadas. ¿A qué variables se refiere?
Answer:
precios de productos y servicios
Explanation:
El PIB de un país aumenta cuando el valor total de los productos y servicios que los productores nacionales venden a países extranjeros excede el valor total de los bienes y servicios extranjeros que compran los consumidores nacionales. Estos productos y servicios son las variables internas y pueden variar desde alimentos, facturas de servicios públicos e incluso el pago de una sesión de masaje.
During May 2020, a company spend $14,000 on ordinary maintenance of its delivery trucks. These maintenance costs should have been recorded as debits to ‘Maintenance Expense’ but the company mistakenly capitalized these costs instead. Which of the following is true?
A. Total Assets are overstated as of May 31, 2020 and May 2020 Net Income is overstated.
B. Total Assets are overstated as of May 31, 2020 and May 2020 Net Income is properly stated.
C. Total Assets are understated as of May 31, 2020 and May 2020 Net Income is understated.
D. Both Total Assets as of May 31, 2020 and May 2020 Net Income are properly stated.
Answer: A. Total Assets are overstated as of May 31, 2020 and May 2020 Net Income is overstated
Explanation:
Capitalizing the costs of the maintenance means that the $14,000 was taken to the Machinery Account which is an asset when in fact it should have been taken to the Maintenance Expense account which is an expense. This will increase the Asset account for May by $14,000 when it should not have meaning that the Asset account is now Overstated.
Net Income is acquired by deducting expenses from Sales/Revenue. The $14,000 which should never have been recorded as an Asset but instead as an expense, will mean that this Expense will not be deducted from the Net Income because it is being recognized as an Asset. This will mean that the Net Income for May will be Overstated by $14,000 which was supposed to be removed from it.