Answer:
D. The minimum of the range
Explanation:
First, it is essential to note the accrual of loss contingency is accruable only if the amount is estimable to a reasonable extent and the loss is also probable. Wyatt Co's loss is actually both probable and reasonably estimated so it meets the two criteria.
Furthermore, since it is reasonable within a rang of outcomes, Accounting Standards Codification Topic 450 (of the Financial Accounting Standard Board) dictates the amount to be accrued should be the better estimate of all amounts within the range.
The standard further states that in a situation where a better estimate can not be determined among the other amounts within the range then the amount accrued should be the one at the range's low end or the minimum amount of the range.
All these criteria shows that Wyatt CO's loss should accrue the minimum amount in the range
As the owner of a party store, you have decided to lower the price for all balloons this month. What do you expect to happen?
Answer:
Quantity demanded for balloons will increase.
Explanation:
According to the law of demand, there is an inverse relationship between the price of the commodity and the quantity demanded for that commodity.
This means that if there is an increase in the price of a good then as a result the quantity demanded for that good decreases and on the other hand if there is a fall in the price of a good then as a result the quantity demanded for that good increases.
Therefore,
Fall in the price of balloons will lead to increase the quantity demanded for balloons.
On the job, Jack acts purely in his own best interest. He follows company rules only to avoid being fired. At what level of moral development is Jack most likely functioning?
a. Unrestricted
b. Principled
c. Conventional
d. Mature
e. Preconventional
Answer:
e. Preconventional
Explanation:
In Kohlberg's Stages of Moral Development, Pre-conventional level doesn’t have a personal code of morality. Instead, moral code is shaped by the standards of adults i.e Jack follows company rules only to avoid being fired and the consequences of following or breaking their rules.
A company has a share price of $24.50 and 118 million shares outstanding. Its book equity is $688 million, its book debt-equity ratio is 3.2, and it has cash of $890 million.
How much would it cost to take over this business assuming you pay its enterprise value?
Answer:
Enterprise value = $ 3,033
Explanation:
The enterprise value is full value of business. It includes total equity and debt. However cash and cash equivalent are not included in it. Detail calculations are given below.
Enterprise Value = Market value of equity/common stock + Total debt- Cash
MV of equity = 24.5 * 118 = $ 2,891
Total Debt = 688/2*3 = $ 1,032
Cash = ($ 890)
Enterprise value = $ 3,033
On January 1, Martinez Inc. issued $3,000,000, 11% bonds for $3,195,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Martinez uses the effective-interest method of amortizing bond premium. At the end of the first year, Martinez should report unamortized bond premium of______________.a. $185,130b. $184,500c. $173,550d. $165,000
Answer:
correct option is b. $184,500
Explanation:
given data
issued amount = $3,000,000
rate = 11%
bonds for = $3,195,000
market rate of interest = 10 %
solution
firs we get here Cash paid that is
Cash paid = $3,000,000 × 11%
Cash paid = $330,000
and
Interest expense will be
Interest expense = $3,195,000 × 10%
Interest expense = $319,500
so premium amortization is
premium amortization = $330,000 - $319,500
premium amortization = $11,500
and premium over the 3 million = 195,000
so
New premium will be as
New premium = $195,000 - $11,500
New premium = $184,500
so correct option is b. $184,500
The unamortized bond premium at the end of the first year for Martinez Inc. should be reported as $184,500. This is calculated by subtracting the amortized bond premium from the initial bond premium.
Explanation:The unamortized bond premium at the end of the first year can be calculated as follows: The premium on the bonds is initially $195,000 (issued price of $3,195,000 minus face value of $3,000,000). The interest expense for the first year is the carrying amount of the bond times the market interest rate, which is $3,195,000 × 0.10 = $319,500. However, the bond actually pays interest based on its face value times the coupon rate, $3,000,000 × 0.11 = $330,000. The difference between these two figures, $330,000 - $319,500 = $10,500, is the amount of premium amortized in the first year. So, the unamortized bond premium at the end of the first year is the initial premium of $195,000 minus the amortized amount of $10,500, giving us $184,500.
Learn more about Unamortized Bond Premium here:https://brainly.com/question/34154619
#SPJ3
Which of the following gifts would probable be held to be taxable to the person receiving the gift?
a. One thousand dollars given to a taxpayer by his or her father
b. An acre of land given to a taxpayer by a friend
c. A car given to a loyal employee by her supervisor when she retired to recognize her faithful service.
d. A Mercedes-Benz given to a taxpayer by his cousin
e. An interest in a partnership given to a taxpayer by his or her uncle
Answer:
The correct answer is E
Explanation:
The taxable is the term which is defined as the amount of income or gift which is used in order to compute that how much tax the company or an individual owes to the government in the stated or given tax period or year.
In case of gifts, the person pay the tax on the income which arises from the gift. So, in this situation, the gift which is probable to held taxable is an interest in the partnership which is given to the taxpayer through his or her uncle.
Compare the financial statements of American Eagle (Appendix A) and Buckle (appendix B) at the end of the book. Determine which company's growth rate in total assets, net sales, and net income is greater. Why do you think this might be the case? Explain
Answer:
American Eagle
Explanation:
Total assets of American Eagle corporation as of February 3, 2018 was $1,816,313 (in thousands). On the other hand, total assets of Buckle corporation at the same time was $538,116 (in thousands).
For the year ended, February 3, 2018
American Eagle (in thousands) Buckle (in thousands)
Net sales $3,795,549 $913,380
Net Income $204,163 $89,707
American Eagle corporation is bigger than Buckle corporation. The number of retail stores of Eagle company is higher than the Buckle corporation. Therefore, the revenue is higher. Again, the company has more non-current assets from which American Eagle company can generate more revenues. So, for those reasons, American Eagle is a better company.
American Eagle has a greater growth rate in total assets, net sales, and net income compared to Buckle.
Explanation:When comparing the financial statements of American Eagle and Buckle, it is important to look at the growth rates in total assets, net sales, and net income to determine which company is experiencing greater growth. In the case of American Eagle, the growth rate in total assets is 3.63%, while Buckle's growth rate is -8.12%. This indicates that American Eagle is experiencing positive growth in its assets, while Buckle is seeing a decline.
Similarly, American Eagle's growth rate in net sales is 8.59%, whereas Buckle's growth rate is -9.91%. This shows that American Eagle is generating more sales and experiencing positive growth, while Buckle's sales are declining. Finally, in terms of net income, American Eagle's growth rate is 72.76%, whereas Buckle's growth rate is -31.92%. This indicates that American Eagle is earning more profit and experiencing significant growth, while Buckle's profitability is declining.
The reason for the differences in growth rates could be attributed to various factors such as differences in business strategies, target markets, product offerings, and management decisions. It is important to analyze additional information and factors to gain a comprehensive understanding of the reasons for the differences.
Learn more about Financial statements here:https://brainly.com/question/32573447
#SPJ3
The difference between GDP and NDP The accumulation of capital stock The consumption of fixed capital
Answer:
The consumption of fixed capital
Explanation:
GDP is Gross Domestic Product : Gross value of all final (finished) goods produced within an economy during an year.
NDP is Net Domestic Product : Net value of all final (finished) goods produced within an economy during an year.
GDP is the the production valued at its gross original price i.e at price excluding depreciation cost .
NDP is production valued at its net price , after deducting depreciation cost from gross value.
Depreciation is also called Consumption of Fixed Capital.
GDP - Depreciation/Consumption of fixed capital = NDP
____________refers to information being available to users early enough to allow them to use it in the decision process.
Answer:
The correct word for the blank space is: Timeliness.
Explanation:
Timeliness is a characteristic the Financial Statements must meet by which executives in decision-making positions could be able to read and comprehend what the information reflects on the company's well being so they can take proper action to correct the course of the company or find the way to keep it and improve it.
What is the primary reason that the owner of the restaurant wants a new accounting system?
Answer:
The answer is stated below:
Explanation:
The primary and the foremost reason that the restaurant owner wants to have a new system of the accounting because the owner wants to keep the track of how the restaurant is doing daily.
So, the owner wants the system which could track all the inventory as well as the expenses in a way which is more efficient. The owner wants to able to see the week by week statements of the how the company is performing.
The owners wants to keep the track of the bills and wants the system which could record the receipt and the cash register tapes.
Which ratio measures the number of dollars of operating earnings available to meet the firm's interest dollars and other fixed charges?
Answer:
The correct answer is: Fixed Charge Coverage Ratio.
Explanation:
The Fixed Charge Coverage Ratio (FCCR) is an accounting calculation that shows a company's ability to pay its fixed costs -expenses that generally do not vary with production level. This may include leases and insurance costs. This ratio is often used by lenders to see if a company is creditworthy. The FCCR is especially helpful when a company has a lot of debt.
If the nominal interest rate equals 5 percent and expected inflation is 3 percent, then the new nominal and real interest rates are respectively:
a) 3% and 5%.
b) 8% and 5%.
c) 5% and 2%.
d) 5% and 7%.
e) 7% and 5%
Answer:
c) 5% and 2%.
Explanation:
Given that
Nominal interest rate = 5%
Expected inflation = 3%
We know that
Real interest rate = Nominal interest rate - inflation rate
= 5% - 3%
= 2%
And the new nominal rate is equal to given nominal interest rate i.e 5%
Therefore, we consider all information which is mentioned in the question.
A special form of licensing in which one company grants another company the right to market its product in accordance with its standards in exchange for a financial commitment is called a. direct licensing. b. a strategic alliance. c. franchising. d. contract manufacturing. e. a joint venture.
Final answer:
The business model where one company grants another the right to operate under its brand for a financial commitment is called franchising.
Explanation:
The special form of licensing where one company allows another to market its product under specific standards in exchange for a financial commitment is known as c. franchising. In this arrangement, the franchisor provides the franchisee with support such as training, supply chain assistance, and help in setting up operations.
In return, the franchisee is required to pay a franchise fee and ongoing royalty fees. This system can provide benefits, such as brand recognition and an established business model, but it also requires adherence to the franchisor's standards and rules.
Specialization and production possibilities Suppose the United Kingdom produces only tablets and smartphones. The resources that are used in the production of these two goods are not specialized-that is, the same set of resources is equally useful in producing both smartphones and tablets. The shape of the United Kingdom's production possibilities frontier (PPF) should reflect the fact that as the United Kingdom produces more smartphones and fewer tablets, the opportunity cost of producing each additional smartphone increases The following graphs show two possible PPFs for the United Kingdom's economy: a straight-line PPF (PPF1) and a bowed-out PPF ( PPF2).Figure:4 graphs are shown
Answer:
It is explained in the question itself that the resources are not specialized for the production of any one commodity. They have mid that the same resource can be used for the production of both smart phones as well as the tablets. Thus, when the UK increases the production of the smart phones, the opportunity cost of producing the Tablets remains constant or remains the same because the trade-off between the goods will be constant.
Thus, when the opportunity cost remains constant and the economy carries on the production, then the Production Possibility Frontier of the economy will be represented with the help of a straight line PPF. Here in the graphs, Graph 1 represents the straight line PPF and thus, the trade-off between the smart phones and the tablets will be represented by the Graph 1.
The UK's PPF should be a straight line (PPF1) if resources are not specialized and equally useful for both tablets and smartphones. However, the increasing opportunity cost as more smartphones are produced reflects a bowed-out PPF (PPF2). This suggests resources are initially more effective in producing tablets, but as production shifts towards smartphones, each additional smartphone becomes costlier to produce.
Explanation:The Production Possibilities Frontier (PPF) demonstrates the trade-offs in production volume between two choices if the same resources are used effectively. If the resources used to produce smartphones and tablets in the UK are not specialized and equally useful for both, the PPF should be a straight line (PPF1). This is because the opportunity cost is constant - producing one more of either product requires the same resources to be shifted. However, the question suggests that the opportunity cost increases as more smartphones are produced, which reflects a bowed-out PPF (PPF2). This is typically the case when resources are more effective in producing one good over the other. In this scenario, resources would presumably be more effective in producing tablets initially, but as production shifts more towards smartphones, each additional smartphone becomes costlier to produce in terms of foregone tablets.
Learn more about Production Possibilities Frontier here:https://brainly.com/question/31725148
#SPJ3
Pursuant to plan of reorganization adopted in the curren year, newman corporation exchanged property with an adjusted basis of 80,000 for 5,000 shares of jabot corporation stock. The Jabot shares had a fair market value of 95,000 on the date of the exchange. Newman Corporation was liquidated shortly after the exchange with its sole shareholder. Victor, receiving the jabot shares. Victor had a dollar 90,000 basis in the Newman shares surrendered.
1. As a result of the exchange, what are Victor's recognized gain and his basis in the jabot stock?
Answer:
Explanation:
Victor's recognized gain equals to zero, because this exchange qualifies under Sec. 368 as a tax-free reorganization.
Victor's recognized gain from the exchange is $0, and the basis in the Jabot stock he received is $90,000, following the tax-free reorganization rules of the Internal Revenue Code.
The question deals with the tax consequences of a corporate reorganization transaction. To answer what Victor's recognized gain and basis in the Jabot stock are, we must apply the Internal Revenue Code (IRC) regulations pertaining to these types of exchanges.
Firstly, the exchange by Newman Corporation of property for Jabot Corporation stock is a tax-free reorganization if it qualifies under IRC Section 368. Assuming it does, no gain or loss is recognized on the exchange of the property for stock. This means Victor's recognized gain is $0.
Now, to determine Victor's basis in the Jabot stock, we need to consider the basis rules for tax-free reorganizations. The basis of the Jabot stock in Victor's hands will be the same as his basis in Newman Corporation shares, since the stock was received in a qualifying reorganization.
Victor's basis in Newman Corporation was $90,000. Therefore, his basis in the Jabot shares will also be $90,000, assuming Newman Corporation had no other liabilities that might affect this amount.
1.The Keynesian AEmodel is a basic representation of the economy in a situation where,for whatever reason, prices don’t change.A.Show, in an AEdiagram, the change in equilibrium Yfrom a given increase inautonomous expenditure. (6 points)B.This simple Keynesian result relies on prices not changing when Yincreases. One reason prices wouldn't change is that input costs don't change. Explain why an increase in GDP might not lead to increased costs for producers. Hint: The economy is operating inside the PPF.
The Keynesian AE model or the expenditure-output model illustrates the economic equilibrium where total spending equals output. An increase in autonomous spending shifts the aggregate demand curve upwards, leading to a higher GDP. Producers may not face increased costs when GDP increases if an economy is operating inside its PPF, as spare resources can be utilized without additional cost.
Explanation:The Keynesian AE model, also known as the expenditure-output model, is utilized to represent the economy in a scenario where prices are unchanging. The equilibrium level of real GDP is essentially determined by the point where the total amount of spending equals the amount of output. This is depicted in the Keynesian cross diagram where aggregate expenditure is plotted on the Y-axis and real GDP, a measure of output, is plotted on the X-axis.
To illustrate how an increase in autonomous expenditure impacts equilibrium Y, consider the model. If autonomous expenditure increases, it causes an upward shift in the aggregate demand (spending) curve. This results in a new, higher equilibrium point, which represents a higher level of real GDP (Y).
Now, with regards to why an increase in GDP might not result in increased inputs costs for producers, we need to consider the idea of an economy operating inside its Production Possibilities Frontier (PPF). When an economy is operating inside the PPF, it indicates the presence of unused resources or inefficiency. Therefore, when GDP rises (due to increased autonomous spending, for example), producers can make use of these previously unused resources to ramp up production without incurring additional costs.
Learn more about Keynesian AE Model here:https://brainly.com/question/34872596
#SPJ12
During a risk assessment, it was discovered the location where the company would like to build a data center in subject to a large number of hurricanes. Management decided to purchase an insurance policy which will pay out in the event the data center is destroyed by a hurricane. This is an example of:
Answer:
risk transfer
Explanation:
Risk transfer is a risk management and control strategy that involves the contractual shifting of a pure risk from one party to another. One example is the purchase of an insurance policy, by which a specified risk of loss is passed from the policyholder to the insurer.
Ute Co. had the following capital structure during Year 1 and Year 2: Preferred stock, $10 par, 4% cumulative, 25,000 shares issued and outstanding $ 250,000 Common stock, $5 par, 200,000 shares issued and outstanding 1,000,000 The preferred stock is not convertible. Ute reported net income of $500,000 for the year ended December 31, Year 2. Ute paid no preferred dividends during Year 1 and paid $16,000 in preferred dividends during Year 2. In its December 31, Year 2, income statement, what amount should Ute report as basic earnings per share?
Answer:
Basic Earnings Per Share = $2.45
Explanation:
Expectation: Calculate the Basic Earnings per Share
First, what is the net income for the year= $500,000
Preference dividend = $16
However, since the preference share is cumulative and no preference dividend was paid in the first year. It means the preference dividend of $16,000 paid was both for the first and second year
Hence, preference dividend for the second year = 4% x $250,000= 0.04x $250,000= $10,000
As such the Basic earning per share
= (Net income - Preference Dividend for the year 2)/Outstanding common shares
= ($500,000- $10,000)/200,000 shares
=$2.45
__________ is a technology approach to implementing a business process, but it’s only part of the technology required to implement business processes. Select one: a. MIS b. BPM c. SaaS d. SOA
Answer:
d. SOA
Explanation:
SOA is an acronym for Service-oriented architecture. SOA is utilizes communication protocol to provide independent service to other devices.
SOA is independent because it does not rely on any technology but work via the web, it helps to bring together different components into a single subsystems so as to integrate business processes, data and other systems.
SOA (Service Oriented Architecture) is the correct answer to the question as it is a technology approach to implementing a business process. It helps in the communication between different systems within a network. Other options do not represent the technological approaches in implementing business processes.
Explanation:The answer to your question is d. SOA (Service Oriented Architecture). SOA is a technology approach to implementing a business process, but it is only part of the technology required to implement business processes. It is effective in facilitating the communication between different systems in a network. Meanwhile, MIS (Management Information Systems) deals with the information system used for decision-making, and SaaS (Software as a Service) is a licensing model for software, while BPM (Business Process Management) is the managerial aspect focused on improving corporate performance.
But, only SOA specifically pertains to a way of designing software or systems to provide services to other software or systems.
Learn more about SOA here:https://brainly.com/question/34915986
#SPJ12
On April 1, 2020, Tamarisk Company received a condemnation award of $447,200 cash as compensation for the forced sale of the company’s land and building, which stood in the path of a new state highway. The land and building cost $62,400 and $291,200, respectively, when they were acquired. At April 1, 2020, the accumulated depreciation relating to the building amounted to $166,400. On August 1, 2020, Tamarisk purchased a piece of replacement property for cash. The new land cost $93,600, and the new building cost $416,000.
Prepare the journal entries to record the transactions on April 1 and August 1, 2020.
Answer:
The forced sale is also accounted as disposal and any net gain or loss is reported in income statement. The accounting enteries are given below.
April 1, 2020.
Debit Cash Asset $ 447,200
Debit accumulated depreciation $ 166,400
Credit Land Asset $ 62,400
Credit Building Asset $ 291,200
Credit Profit on Disposal $ 260,000
August 1, 2020
Debit Land Asset $ 93,600
Debit Building Asset $ 416,000
Credit Cash Asset $ 509,600
Acme Solutions often hires Nicco to train its employees. He is paid $300 for every session. Hisjob also requires him to travel once a month to different branches of Acme Solutions and trainemployees there. When he is required to travel, the company pays him $450 per session. Alltraining materials have to be provided by Nicco himself. When he is not hired by AcmeSolutions, Nicco works for other smaller companies as a trainer. Thus, Nicco is mostly like a(n):a)full-time employee at Acme Solutions.b)social worker.c)trade creditor.d)independent contractor for Acme Solutions.
Nicco is mostly like an independent contractor for Acme Solutions.
Explanation:
An independent contractor is a licensed person or organization for the other unemployed to complete the work for and would offer services.
Independent contractors are termed sole owners or Limited Liability Companies (LLCs) of single members in the United States of America.
If you are profiting or benefiting from rental homes, you will record your income and expenses under Schedule C of Form 1040 or Schedule E. In addition, self-employment charges are to be submitted to the IRS, normally on the basis of Form 1040-ES every three months.
A pro football quarterback has to move to a new house. What would be a good economic reason for him to do his own moving rather than hiring someone else?
a. Physically he is in better shape than ever.
b. He is retiring, so he no longer has the trade- off of missing practice or a game.
c. The bids from moving companies are a bit higher than he expected.
d. He makes 20% less money after the latest contract renewal
Answer: it would be B
Explanation:
Feel Good Inc. is a multinational sports goods manufacturer that uses a different strategy in each of its subsidiaries and operations. Moreover, all decision making is decentralized, which leaves the company open for the threat of opportunistic behavior. Since expatriate managers do not rely on headquarters expertise, there is also a great imbalance in transference of information and specialized knowledge. In the context of the four intemational strategies proposed by Bartlett and Goshal, Feel Good Inc. uses the ___.
a. global strategy
b. multidomestic strategy
c. universal strategy
d. international strategy
Answer:
The correct answer is letter "B": Multi domestic strategy.
Explanation:
The Bartlett & Ghoshal Matrix (1989) proposes there are four (4) strategies companies could use to make international businesses: Multi domestic, Global, Transnational and International. The Multi domestic strategy implies having a presence in different countries by adapting the product or service offered to the region. This strategy is characterized by low integration between subsidiaries and decisions are taken by the decentralized subsidiaries on their own.
Crane incurs a weekly payroll of $251000 that includes federal taxes withheld of $38200, FICA taxes withheld of $23970, and 401(k) withholdings of $27300. What is the effect on assets and liabilities from recording this transaction? (Ignore company payroll taxes).
Answer:
First let us define the nature of each of the following as per Balance sheet of a company:
Payroll payable- Liability
FICA taxes withheld- Liability
Federal taxes- Liability
410(k)- Liability
Explanation:
Effect of Transaction on assets and liabilities:
Payroll expense Debit will have no impactPayroll payable, Federal taxes, FICA and 401(k) will increase the current liability.And when they are subsequently paid, cash will be credited hence decreasing the current assets and all these current liabilities shall be debited, hence decreasing the current liability portion.Consider the circular flow model when answering the following questions
a. A firm decides to buy an existing factory in town. This would occur in the _______
b. Profits (income generated from entrepreneurial ability) are earned by _______
c. The price of coffee is determined in the ________
Answer:
a. Factor market
b. the firm
c. product market
Explanation:
a, Factory is one of the factors of production, if it must be traded, it will be done in the market for factors of production known as the factor market.
b. Profit is a reward for one of the factors of production called entrepreneur, the entrepreneur, in the circular flow model is the firm
d. Consumer goods like coffee are available in the product market, therefore the price for coffee is determined in the product market.
Design or name any methods of internal controls you think could prevent or detect the unethical behavior in the future.
Answer:
As we know the internal controls are not effective after a passage of time because there are familiarity threats which might result in the unethical behavioral implications. So to prevent or detect the management unethical behavior, we can do the following things:
Segregation of Duties
Checking the effectiveness of the internal control after every year or semi year.
Using only company bank account for all the payments and receipt.
Redesigning policies of the organization to ensure effective working of the internal controls.
Bank reconciliation at the month end
The holder of a life estate has the right to use property for whatever purpose he or she sees fit without regard to the rights of its fee simple owner. True False
Answer:
The statement is: False.
Explanation:
A life estate comprehends the property that someone owns during a lifetime. The benefit of a life estate is that property will transfer without the need of the beneficiary appearing in the will after the holder is deceased. They cannot put the property on sale until the holder's decease, though. As well, holders cannot do anything at will without consulting their simple-fee owners.
The statement is false. The holder of a life estate can use and benefit from the property but must do so in a way that preserves its value for future owners.
The statement that the holder of a life estate has the right to use property for whatever purpose he or she sees fit without regard to the rights of its fee simple owner is false. A life estate grants the holder the right to use, occupy, and benefit from a property for the duration of their life. However, this right is not absolute and must be exercised with regard to the rights of the remainderman or reversioner, who holds fee simple interest. The life tenant is obligated to avoid actions that would damage the property or significantly alter its value. Therefore, while they can make use of the property, their use is constrained by the need to preserve the property's value for future owners.
Using the Du Pont method evaluate the effects of the following relationships for the company.
A. Butters Corporation has a profit margin of 7 percent and its return on assets ( investments) is 25.2. What is its assets turnover
B. If the Butters corporation has a debt to total assets ratio of 50 percent, what would the firms return on equity be?
C. What would happen to return on equity if the debt to total assets ratio decreased to 35 percent?
Answer:
Explanation:
A. Profit margin*Total asset turnover=Return on assets(investment)
0.07*TAT=25.2
TAT=360
B. Return on equity=Return on assets/(1-debt/assets)=25.2/(1-0.5)=50.40%
C. Return on equity=Return on assets/(1-debt/assets)=25.2/(1-0.35)=38.77%
Ozark Sports sells hunting and fishing equipment and provides guided hunting and fishing trips. Ozark Sports is owned and operated by Eric Griffith, a well-known sports enthusiast and hunter. Eric’s wife, Linda, owns and operates Lake Boutique, a women’s clothing store. Eric and Linda have established a trust fund to finance their children’s college education. The trust fund is maintained by Missouri State Bank in the name of the children, Mark and Steffy. a. For each of the following transactions, identify which of the entities listed should record the transaction in its records. EntitiesL Lake BoutiqueM Missouri State BankO Ozark SportsX None of the above 1. Linda authorized the trust fund to purchase mutual fund shares.2. Linda purchased two dozen spring dresses from a St. Louis designer for a special spring sale.3. Eric paid a breeder’s fee for an English springer spaniel to be used as a hunting guide dog.4. Linda deposited a $2,000 personal check in the trust fund at Missouri State Bank.5. Eric paid a local doctor for his annual physical, which was required by the workmen’s compensation insurance policy carried by Ozark Sports.6. Eric received a cash advance from customers for a guided hunting trip.7. Linda paid her dues to the YWCA.8. Linda donated several dresses from inventory for a local charity auction for the benefit of a women’s abuse shelter.9. Eric paid for dinner and a movie to celebrate their twelfth wedding anniversary.10. Eric paid for an advertisement in a hunters’ magazine. b. What is a business transaction?
Answer:
(a)
1. Linda authorized the trust fund to purchase mutual fund shares.
Missouri State Bank
2. Linda purchased two dozen spring dresses from a St. Louis designer for a special spring sale.
Lake Boutique
3. Eric paid a breeder’s fee for an English springer spaniel to be used as a hunting guide dog.
Ozark Sports
4. Linda deposited a $2,000 personal check in the trust fund at Missouri State Bank.
Missouri State Bank
5. Eric paid a local doctor for his annual physical, which was required by the workmen’s compensation insurance policy carried by Ozark Sports.
Ozark Sports
6. Eric received a cash advance from customers for a guided hunting trip.
Ozark Sports
7. Linda paid her dues to the YWCA.
None of the above
8. Linda donated several dresses from inventory for a local charity auction for the benefit of a women’s abuse shelter.
Lake Boutique
9. Eric paid for dinner and a movie to celebrate their twelfth wedding anniversary.
None of the above
10. Eric paid for an advertisement in a hunters’ magazine
Ozark Sports
(b) Business Transaction:
A business transaction is an activity or event that can be measured in terms of money and which affects the financial position or operations of the business entity. For instance, an asset is acquired or a loan is paid off
Explanation:
(a)
1. The transaction pertains to Trust fund, hence it should be recorded by Missouri State Bank
2. The transaction pertains to the clothing boutique, hence it should be recorded by Lake Boutique
3. The transaction pertains to the business expenditure of Ozark Sports, hence it should be recorded by Ozark Sports
4. The transaction pertains to the bank, hence it should be recorded by Missouri State Bank
5. The transaction pertains to the business expenditure of Ozark Sports, hence it should be recorded by Ozark Sports
6. The transaction pertains to the business expenditure of Ozark Sports, hence it should be recorded by Ozark Sports
7. The transaction is not a business transaction.
8. The transaction pertains to the donations made via lake boutique, hence it should be recorded by Lake Boutique
9. The transaction is not a business transaction.
10. The transaction pertains to the business expenditure of Ozark Sports, hence it should be recorded by Ozark Sports
Transactions involving business operations or financial activities related to Lake Boutique, Ozark Sports or Missouri State Bank should be recorded by their respective entities. Transactions of personal nature do not involve the entities mentioned.
Explanation:1. Missouri State Bank should record the transaction of Linda authorizing the trust fund to purchase mutual fund shares.
2. The purchase of two dozen spring dresses from a St. Louis designer for a special spring sale should be recorded by Lake Boutique.
3. Eric's payment of a breeder’s fee for an English springer spaniel to be used as a hunting guide dog should be recorded by Ozark Sports.
4. The deposit of a $2,000 personal check in the trust fund at Missouri State Bank should be recorded by Missouri State Bank.
5. Eric's payment for his annual physical required by the workmen’s compensation insurance policy should be recorded by Ozark Sports.
6. The cash advance received from customers for a guided hunting trip should be recorded by Ozark Sports.
7. Linda's payment of her dues to the YWCA should be recorded by none of the entities, thus X.
8. The donation of several dresses from inventory for a local charity auction should be recorded by Lake Boutique.
9. Eric's payment for dinner and a movie to celebrate their wedding anniversary should be recorded by none of the entities, thus X.
10. Eric's payment for an advertisement in a hunters’ magazine should be recorded by Ozark Sports.
A business transaction is an economic event that is initiated by an entity and results in changes in its financial position.
https://brainly.com/question/32522185
#SPJ3
For a single-server queueing system, which of the following is TRUE? A high utilization factor will result in a system that performs well. A high utilization factor will result in a system that performs poorly. A low utilization factor will result in a system that performs efficiently.
Answer:
II only. A high utilization factor will result in a system that performs poorly is TRUE for a single-server queueing system. As it states that when designing a single-server queueing system, beware that giving a relatively high utilization factor (workload) to the server provides surprisingly poor measures of performance for the system.
True that queueing models enable finding an appropriate balance between the cost of service and the amount of waiting.
Explanation: RATE BRAINLIEST PLEASE
B- A high utilization factor will result in a system that runs and performs poorly in case of a single-server queuing system. This will happen due to less efficiency experienced in as the number of objects in a queue increases.
Single server queuing system will also help identify the fact that if the firm is in severe need of additional servers so as to make the system run well and to the expectancy of the org.
A single server queuing system is designed especially for firms where the server is mandatory but not of high usage and the firm has installed the system just for the sake of it.This system loses its efficiency when there is a great deal of requirements in the firm and the saturation of the firm is much higher than the capacity of the server.A firm will soon have to install additional server to its system to be able to manage the subjects and the objects of the firm's workload with an increase seen throughout and requirement to deploy such system is really required.Hence, the correct option is B that the high utilization factor will lead to the result in a system that performs poorly.
To know more about the high utilization factor, please refer the link below.
https://brainly.com/question/9147492
The profit that the vendor makes per day by selling x pretzels is given by the function. P(x) = -0.002x2 + 1.4x - 400. Find the number of pretzels that must be sold to maximize profit.
Answer:
350 the number of pretzels that must be sold to maximize profit.
Explanation:
P(x) = -0.002x2 + 1.4x - 400
Differentiating P(x) with respect to dx:
[tex]P(x)'=\frac{d(-0.002x2 + 1.4x - 400)}{dx}[/tex]
[tex]P(x)'=-2\times 0.002x+1.4[/tex]
Putting , P(x)' =0
[tex]0=-0.004x+1.4[/tex]
[tex]x=\frac{1.4}{0.004}=350[/tex]
we get , x = 350
Differentiating P(x)' with respect to dx:
[tex]P(x)''=-0.004[/tex]
P(x)''<0 (maxima)
350 the number of pretzels that must be sold to maximize profit.
To maximize profit, the vendor should sell 350 pretzels, which will yield a maximum profit of $45.
To find the number of pretzels that must be sold to maximize profit, we need to determine the maximum point of the profit function P(x) = -0.002x² + 1.4x - 400.
The maximum point of a quadratic function of this form occurs at the vertex of the parabola, which can be found using the formula for the x-coordinate of the vertex, [tex]x_v = -\frac{b}{2a}.[/tex]
Let's calculate the x-coordinate of the vertex:
[tex]x_v = -\frac{b}{2a} = -\frac{1.4}{2 \cdot (-0.002)} = -\frac{1.4}{-0.004} = \frac{1.4}{0.004} = 350.[/tex]
Therefore, the number of pretzels that must be sold to maximize profit is 350
The maximum profit can be found by substituting [tex]x_v[/tex] back into the profit function:
P(350) = -0.002(350)² + 1.4(350) - 400 = -0.002(122500) + 490 - 400 = -245 + 490 - 400 = 45.
So, the maximum profit is $45 when 350 pretzels are sold.
In conclusion, to maximize profit, the vendor should sell 350 pretzels, which will yield a maximum profit of $45."