Bushard Company (buyer) and Schmidt, Inc. (seller) engaged in the following transactions during February 20X1: Bushard Company DATE TRANSACTIONS 20x1 Feb. 10 Purchased merchandise for $2,500 from Schmidt, Inc., Invoice 1980, terms 3/10, n/30. 13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $300 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schmidt, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010.
Answers
In February 20X1, Bushard Company and Schmidt, Inc. had a series of transactions. On February 10, Bushard Company bought goods from Schmidt, Inc. worth $2,500. The terms of the invoice were 3/10, n/30. On February 13, Bushard Company received Credit Memorandum 230 from Schmidt, Inc., worth $300 for damaged merchandise that was returned.
The damaged goods were bought on Invoice 1980, which was dated February 10. On February 19, Bushard Company paid Schmidt, Inc. the amount owed for Invoice 1980 dated February 10. They subtracted the cash discount and return of February 13. Check 2010 was used to make the payment.
In this case, Bushard Company recorded an increase in the cost of goods sold and an increase in the accounts payable. On the other hand, Schmidt, Inc. recorded an increase in the accounts receivable. When Bushard Company paid Schmidt, Inc., they recorded a decrease in the accounts payable and an equal decrease in cash. Schmidt, Inc. recorded an increase in cash and a decrease in accounts receivable.
To know more about Credit Memorandum visit:-
https://brainly.com/question/32537271
#SPJ11
Related Questions
Which department of a business is responsible for creating budgets and
analyses the inflow and outflow of the company's monetary assets?
Research and Development
O Production
O Accounting and Finance
O Marketing and Sales
Answers
Answer:
Accounting and Finance
The local alpaca rancher begins year 1 with 80 animals. She acquires 4 additional animals each year, and each year 10% (rounded to the nearest integer) of the alpacas present at the beginning of the year are stolen by rustlers. For example, in a year where there are 73 animals at the beginning of the year, 7 would be abducted at the end of the year. The rancher needs to know how many alpacas she will have at the end of year 10. The spreadsheet she employs can be found below. In cell E6 the first cell address referred to was cell C6. If the formula is entered in cell E6 and is copied down through E7:E15, what completes the formula
Answers
The correct answer to the following question will be "B9:B18-ROUND(0.1*B9:B18,0) +C9:C18".
What is spreadsheet?A spreadsheet is a software program for organizing, calculating, and storing data in tabular form. Spreadsheets were created as digital counterparts to traditional paper accounting spreadsheets. Data entered into table cells is what the application uses to operate. Each cell may include text, numeric data, or formula results that calculate and display values according to the contents of neighboring cells. One such electronic record may also be referred to as a spreadsheet. Users of spreadsheets can change any fixed amount and watch the changes in calculated values. This enables quick investigation of numerous scenarios without the need for manual recalculation, making the spreadsheet helpful for "what-if" study. Multiple sheets can interact in modern spreadsheet software, which can also show data as text or numbers.
To know more about spreadsheet visit:
https://brainly.com/question/10509036
#SPJ4
"B9:B18-ROUND(0.1*B9:B18,0) +C9:C18" will be the right response to the following query.
What is a spreadsheet?A spreadsheet is a piece of software used for tabular data organization, calculation, and storage. Spreadsheets were developed as electronic replacements for the old-fashioned paper accounting spreadsheets. The programme runs on data entered into table cells. Text, numerical information, or formula results that compute and display values based on the contents of nearby cells may all be included in a cell. An example of one such electronic record is a spreadsheet. Spreadsheet users may alter any fixed quantity and observe how the computed numbers change. The spreadsheet is useful for "what-if" analysis since it permits speedy exploration of several situations without the need for manual recalculation.
To know more about spreadsheet visit:
brainly.com/question/10509036
#SPJ4
Why is it important to prepare a financial budget? Explain what is meant by the term "time value of money". For example, why might it be better to receive $8 today, over receiving a promise of $9 seven years from now? How should one consider the time value of money when planning for retirement?
Answers
Financial budgeting is essential for managing finances, maintaining discipline, identifying opportunities, and increasing savings, while the time value of money highlights the importance of receiving money today for its higher present value, crucial when planning for retirement to maximize returns and sustain the desired lifestyle.
Financial budget is a detailed plan for the future income and expenses. It helps in identifying the money management system of an individual, business or an organization. It is important to prepare a financial budget because it helps an individual to maintain the financial discipline in life, maintain the standard of living, helps in identifying the investment opportunities, and increases the chances of savings.
Budgeting also helps in making rational decisions with respect to the money, and helps in staying on track for future goals.
The time value of money is a financial concept that refers to the idea that the present value of money is more than the future value of the same amount of money, over a certain period of time. It is important because money in hand today is worth more than the same amount in the future.
The concept of time value of money helps in understanding the importance of money. The value of the money received today will change over time due to inflation and the interest earned on savings.
It is better to receive $8 today, over receiving a promise of $9 seven years from now because the value of money decreases over time due to inflation. The time value of money should be considered when planning for retirement because the future value of money may be worth less than the present value.
An individual planning for retirement should consider investing money in a diversified portfolio with the help of a professional financial planner. They should also look at the interest rates, inflation, and tax laws to maximize their investment returns.
In conclusion, financial budgeting is important for individuals, businesses, and organizations as it helps in identifying the money management system. The concept of time value of money is important as it helps in understanding the value of money received today versus the value of money in the future.
It is important to consider the time value of money when planning for retirement as it helps in maximizing the investment returns and maintaining the standard of living.
Learn more about budgeting at: https://brainly.com/question/24940564
#SPJ11
be the same as ordering cost. The production rate would be about double the usage rate. Compared to the EOQ, the economic production quantity would be approximately:
Answers
Find full question attached
Answer:
C. 40% larger
Explanation:
Economic order quantity(EOQ) is used in inventory management to reduce holding costs and ordering costs by sticking to the best order quantity that can achieve this. From the above, Economic order quantity should be able to reach usage rate but the company has switched from buying to producing and since production is twice usage rate, Economic production quantity(EPQ) should be larger than Economic order quantity and about 40% (from the options)
A random variable follows a binomial distribution with a probability of success equal to 0.59. Find:
For a sample size of n=6, find: The probability of exactly 4 success
The expected value(mean)
The expected variance
Answers
If a random variable follows a binomial distribution with a probability of success equal to 0.59 then the expected variance is approximately equal to 1.468.
Given that a random variable follows a binomial distribution with a probability of success equal to 0.59.
We need to find the following values:
For a sample size of n = 6, find: The probability of exactly 4 successes The expected value(mean)The expected variance
The probability of exactly 4 successes
The probability of exactly 4 successes can be calculated by using the following formula:
P(X = k) = nCk * p^k * (1 - p)^(n - k)
Where, P = Probability of success
n = sample size
nCk = combination of k successes in n trials
Therefore, the probability of exactly 4 successes can be calculated as
P(X = 4) = 6C4 * 0.59^4 * (1 - 0.59)^(6 - 4) = 0.2676
The probability of exactly 4 successes is 0.2676.
The expected value (mean) The expected value (mean) of a binomial distribution is given by the formula: μ = np
where, μ = mean of the binomial distribution n = sample size p = probability of success
Therefore, the expected value is: μ = 6 * 0.59 = 3.54 The expected value (mean) is 3.54.
The expected variance of a binomial distribution is given by the formula: σ^2 = np(1 - p) where σ^2 = variance of the binomial distribution = sample size p = probability of success
Therefore, the expected variance is:σ^2 = 6 * 0.59 * (1 - 0.59)≈ 1.468
The expected variance is approximately equal to 1.468.
If you need to learn more about random variables click here:
https://brainly.com/question/31108722
#SPJ11
Research sample numerical or graphical models for the demand, revenue, marginal revenue, marginal cost, and average total cost of production for a firm. Determine the profit-maximizing output level of the firm in the table or graph. In no more than three sentences, explain why profits are maximized at this output level.
Answers
Profits are maximized when marginal revenue equals marginal cost, indicating that the additional revenue gained from producing one more unit is equal to the additional cost incurred.
To determine the profit-maximizing output level of a firm, we need to analyze the demand, revenue, marginal revenue, marginal cost, and average total cost of production. Numerical and graphical models can be used to illustrate this analysis.
Here's an explanation of each element and why profits are maximized at the output level where marginal revenue equals marginal cost:
Demand: The demand curve represents the relationship between the price of a product and the quantity consumers are willing to purchase at that price. It typically slopes downward, indicating that as price decreases, quantity demanded increases.
Revenue: Revenue is calculated by multiplying the quantity of goods sold (output) by the price at which they are sold. The revenue curve depicts the total revenue generated at different levels of output.
Marginal Revenue: Marginal revenue represents the additional revenue gained from producing and selling one additional unit of output. It is derived by calculating the change in total revenue resulting from a unit change in output.
Marginal Cost: Marginal cost represents the additional cost incurred from producing one additional unit of output. It is calculated by dividing the change in total cost by the change in output.
Average Total Cost: Average total cost is the total cost divided by the quantity of output produced. It includes both fixed and variable costs.
Profits are maximized at the output level where marginal revenue equals marginal cost. This is because at this point, the additional revenue gained from producing one more unit (marginal revenue) is equal to the additional cost incurred to produce that unit (marginal cost).
Any deviation from this output level would result in lower profits as either the cost of production would exceed the additional revenue generated or the revenue would fall short of covering the additional costs.
For more question on marginal revenue visit:
https://brainly.com/question/27994034
#SPJ8
Edwill just purchased a new home costing R1 107 900,00 by paying R120 000,00 cash on the purchase date, and agreeing to make payments at the end of each of the following eight years for the remainder
Answers
Edwill will make annual payments of R123,487.50 for the next eight years to cover the remaining cost of the home.
Based on the given information, Edwill purchased a new home costing R1,107,900. He made an initial payment of R120,000 in cash on the purchase date. The remaining amount of R987,900 will be paid in installments over the next eight years. To calculate the annual payment, we divide the remaining amount by the number of years: Annual payment = Remaining amount / Number of years;
Annual payment = R987,900 / 8; Annual payment = R123,487.50. Therefore, Edwill will make annual payments of R123,487.50 for the next eight years to cover the remaining cost of the home. It is important to note that this calculation assumes no interest or financing charges are involved.
To learn more about payments click here: brainly.com/question/15136793
#SPJ11
Which of the following refers to the balance an account is always supposed to have?
Normal balance
Debits
Credits
Double-entry system
Answers
Answer:
Normal balance
Explanation:
Accounts are expected to have either debit or credit balance, depending on their classification. The accounting equation of Assets is equal to equity plus liabilities is the basis for account classification. Assets accounts are on one side, while accounts relating to equity and liabilities are on the other.
Accounts have normal balances if the balances at the end of a period are as expected. Assets accounts are expected to have debit balances, while equity and liabilities accounts should have credit balances.
______ economics considers the desirability of certain aspects of the economy and underlies expressions of support for particular economic policies.
Answers
The aspect of economics that looks at the desirability of some sections of the economy and underlies expressions of support for some economic policies is called Normative Economics.
What is the focus of Normative Economics?Normative economics focuses on how economic policies impact the people. That is the outcome of economic goals and public policy and what those policies ought to be.
In other words, it is very subjective in nature and focuses on what should be rather than what is.
See the link below to learn more about Normative Economics:
https://brainly.com/question/20841086
Choosing the higher education institution with the cheapest sticker price
might be a bad idea because
A.)sticker prices always have hidden costs which may increase the overall costs
B.)cheaper schools usually charge more for housing which is not a part of a
sticker price
C.)cheaper schools usually will not allow you to apply for financial aid
D.)more expensive schools may be cheaper once the net cost has been
determined
Answers
Answer: D. more expensive schools may be cheaper once the net cost has been determined
Explanation:
Choosing the higher education institution with the cheapest sticker price might be a bad idea because more expensive schools may be cheaper once the net cost has been determined.
It should be noted that sticker prices with regards to higher education scan sometimes give false information about the fees which will be eventually be paid. This is because one ma eventually find out that the total fees that were paid in the assumed cheaper school may be more than the expensive school once the net cost has been calculated and determined.
In order for one to be able to make a thorough decision on one's choice of school, higher institutions should provide better and more detailed information regarding the amount that students will pay in their schools net of grants or maybe scholarships.
The higher education institution and the sticker price are directly related to each other higher the education system higher will be the sticker price that is the total cost of the yearly tuition, books, room rents, and other fees that are charged within the institutions.
Choosing the higher education and the cheaper sticker price is a bad idea because:
Option D. more expensive schools may be cheaper once the net cost has been determined.
The higher education and cheaper sticker price are bad because the sticker prices quoted about the fees sometimes gives false information that will be eventually paid in the future once the net cost has been calculated and determined.
To know more about the cheapest sticker price, refer to the link:
https://brainly.com/question/12738121?referrer=searchResults
Assume your company’s sales increased from $3 million last year to $10 million this year. However, your biggest competitor is still the market leader with a 40% share of the $200 million widget market. Your other four competitors had sales this year of $53 million, $38 million, $12 million, and $7 million, respectively. For this year, what is your company’s MARKET SHARE? Type only a number along with a $ or % (if appropriate). Dollar amounts should be rounded to the nearest cent; percentages to the nearest tenth. *
Answers
Answer: 5%
Explanation:
The market share for the company will be gotten using the formula:
= Sales generated by company / Total industry sales × 100
= 10/200 × 100.
= 5%
Therefore, the company's market share is 5%
Learning is Fun company had current assets amounting to Php 100,000. Noncurrent assets for the year totaled Php 76,000. How much is the company's total assets?
Answers
Non current assets = 76,000
Total assets = current + non current
Total assets = 100,000 + 76,000
Total assets = 176,000
The company's total assets are Php 176,000
How to calculate total assets?By adding current and non-current assets, we will get the company's total assets.
Given:
Current assets = 100,000
Non current assets = 76,000
By adding current and non-current assets:
Total assets = current + non current
Total assets = 100,000 + 76,000
Total assets = 176,000
Taking liabilities into account makes for the most accurate calculation of total assets. To determine total assets, you subtract the value of liabilities from the value of assets.
Learn more about total assets here: brainly.com/question/27235433
#SPJ2
Which of the following are typically not part of the duties of a corporate travel manager?
-planning meetings and conferences
-managing travel budgets
-arranging business travel for company employees
-booking a cruise for employees' families
Answers
Answer:
booking a cruise for employees' families
Explanation:
A corporate travel manager is a senior officer in a company whose duties revolve around facilitating business travel. Their roles include planning business trips, organizing the company's business events, and any other corporate travel-related tasks.
The corporate travel manager is in charge of implementing the travel budget. They have to find the most cost-effective way of traveling without compromising business productivity and the corporate image.
consumers have the option of purchasing a warranty when they purchase the apple iphone 7. the warranty is an example of which level of product? group of answer choices core value an experience augmented product actual product
Answers
In this example, warranty is an example of Actual Product
The thing which can't be seen and touch is the core product. It is out of reach. That is because the core product is the thing that makes the product valuable to you. So, in the case of the car, the benefit is convenience, which means that it is easy to go where you want, when you want. One of the most important benefits is speed, since you can move around quickly.
The Actual product is the one that can be seen and touched. You can use it in some way. Again, with a car, you test drive it, buy it, and then take it home. It can be touched. The actual product is what most people would think of when they hear the word "product."
The AUGMENTED product is the part of the product that can not be seen or touched. It usually has a lot of extra features that you may or may not pay extra for. So, when you buy a car, the warranty, customer service support from the car's manufacturer, and any after-sales service would be part of the added value. The augmented product is an important way to make the core or actual product fit the needs of a specific customer. People can get benefits from the features that come with augmented products.
To know more about Actual product
https://brainly.com/question/29304354
#SPJ4
Question # 1 Long Text (essay) Submit two news story summaries, noting the following: agency name(s), parties affected by the decision, status on period for comment, status on decision-making, and what decisions you would make in similar situations.
Answers
The answer is The public may not make technical decisions, but their opinions deserve consideration by those who are making those decisions.
What does making decisions mean?The process of choosing a course of action involves recognizing a decision, acquiring data, and weighing potential answers.
What three ways can one make a decision?Based on the level at which they occur, decision-making may also be divided into three types. The direction of an organization is decided upon strategically. Decisions regarding how something will be accomplished are considered tactical. Lastly, operational decisions are choices that staff members make every day to manage the company.
To know more about Decision making visit:
https://brainly.com/question/13244895
#SPJ1
Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
To learn more about Stocks follow the link.
https://brainly.com/question/14649952
#SPJ2
Compare these two sections of resumes. Which is more appropriate? a. - Completed nine-hour training course • Ran simulation software, • Used test probe to test over one hundred parts - Started a test plan document. b. Completed nine-hour training course • Ran simulation software • Used test probe to test over one hundred parts • Started a test plan document JURG Fil, Ir. Ob a
Answers
Answer:
the second one
Explanation:
Question 1 master help!
Answers
am I correct? if not lmk the answer please
Answers
you are an administrative assistant in the purchasing department. Another administrative assistant is getting married in three weeks. Rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. you have not seen an official announcement, however, the assistant did tell you that she plans not to come back. What should you say to your two coworkers?
Answers
In this situation, You should tell your coworkers that you are unsure and that it is not yet official announced.
Co - workers.
Co workers refers a person with whom one works, typically someone in a similar role or at a similar level within an organization.
Given,
Here we have given that, you are an administrative assistant in the purchasing department. And another administrative assistant is getting married in three weeks. There is a rumor has it that after the wedding, she will not be returning, and two of your peers have come to you asking if it is true because they want to apply for her job. Now, you have not seen an official announcement, however, the assistant did tell you that she plans not to come back.
Here we need to find how you should handle this situation.
While we looking into the given question, we have identified the following,
There are 2 administrative assistant in your company.
One is you and another one is a girl and she get married in three weeks. And she also planned to resign after her marriage but this resignation is not officially confirmed.
So, in this situation, two of your peer interested for the position and asking you about the recruitment process.
Here you have to reply the co workers that the resignation is not conformed and if it is officially announced they you have the option to apply for that position.
To know more about Co - workers here
https://brainly.com/question/29053446
#SPJ1
Breakeven point and all forms of leverage TOR most recently sold 100,000 units at $7.50 each; its variable operating costs are $3.00 per unit, and its fixed operating costs are $250,000. Annual interest charges total $80,000, and the firm has 8,000 shares of $5 (annual dividend) preferred stock outstanding. It currently has LG 1 LG 2 ChAPTER 13 Leverage and Capital Structure 599 20,000 shares of common stock outstanding. Assume that the firm is subject to a 40% tax rate. a. At what level of sales (in units) would the firm break even on operations (that is, EBIT 5 $0)? b. Calculate the firm’s
Answers
a)The firm would need to sell approximately 73,333 units to break even on operations.
b)The firm's leverage is 0.2857.
a. The breakeven point is the level of sales at which a company's total revenue equals its total costs, resulting in zero profit or loss. To calculate the breakeven point in units, we need to find the number of units the company needs to sell in order to cover its fixed and variable costs.
First, let's calculate the contribution margin per unit. The contribution margin per unit is the selling price per unit minus the variable cost per unit. In this case, the selling price per unit is $7.50 and the variable cost per unit is $3.00. Therefore, the contribution margin per unit is $7.50 - $3.00 = $4.50.
Next, we can calculate the fixed costs. The fixed operating costs are given as $250,000. Additionally, we need to consider the annual interest charges of $80,000.
Total fixed costs = Fixed operating costs + Annual interest charges
Total fixed costs = $250,000 + $80,000
Total fixed costs = $330,000
To find the breakeven point in units, we divide the total fixed costs by the contribution margin per unit:
Breakeven point in units = Total fixed costs / Contribution margin per unit
Breakeven point in units = $330,000 / $4.50
Breakeven point in units = 73,333.33
b. To calculate the firm's leverage, we need to consider its capital structure and the various forms of leverage. In this case, the firm has preferred stock and common stock.
To calculate the leverage, we can use the formula:
Leverage = Total debt / Total equity
First, let's calculate the total debt. The firm has 8,000 shares of $5 preferred stock outstanding, so the total preferred stock is 8,000 shares * $5 = $40,000.
Next, let's calculate the total equity. The firm has 20,000 shares of common stock outstanding. Assuming the par value of the common stock is also $5, the total common stock is 20,000 shares * $5 = $100,000.
Total equity = Total preferred stock + Total common stock
Total equity = $40,000 + $100,000
Total equity = $140,000
Finally, we can calculate the leverage:
Leverage = Total debt / Total equity
Leverage = $40,000 / $140,000
Leverage = 0.2857
For more such questions on variable costs
https://brainly.com/question/28481161
#SPJ8
Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) 50 b) $865.94 C) $991.36 d) $1156.36
Answers
Option(A) is the correct answer. Krishna will receive a disability benefit of $660 under the CPP.
To determine the disability benefit that Krishna will receive under the CPP, we need to consider a few factors. First, let's calculate the disability benefit based on the provided information:
The flat-rate disability amount is $496.36 per month.
The maximum monthly disability benefit is $1362.30.
Krishna's entitlement to a CPP retirement benefit is $660 per month.
To calculate the disability benefit, we compare the retirement benefit to the flat-rate disability amount and the maximum monthly disability benefit:
The disability benefit will be the lesser of:
The retirement benefit ($660)The flat-rate disability amount ($496.36) plus the retirement benefit minus the flat-rate disability amount.Let's calculate the disability benefit based on the above formula:
Disability benefit = min(retirement benefit, flat-rate disability amount + retirement benefit - flat-rate disability amount)
= min($660, $496.36 + $660 - $496.36)
= min($660, $660)
= $660
Therefore, Krishna will receive a disability benefit of $660 under the CPP.
Option (a) 50, option (b) $865.94, option (c) $991.36, and option (d) $1156.36 are not correct based on the given information. The correct answer is that Krishna will receive a disability benefit of $660 under the CPP.
for similar questions on CPP.
https://brainly.com/question/30142401
#SPJ8
Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) $660 b) $865.94 C) $991.36 d) $1156.36
Sofia worries that if something happens to her husband and he dies, she will lose everything—their home, their cars, etc. Which type of business should Sofia consult to see if there is a plan available to cover her expenses if her husband dies?A.
stock-held savings institution
B.
web-only financial institution
C.
mutual fund company
D.
life insurance company
Answers
Answer:
D. life insurance company
Explanation:
Life insurance protects against loss of income as a result of the death of the insured. It is an agreement where the insurance company accepts to pay the beneficiaries the stated sum of money when the insured dies.
Sofia should consult a life insurance company and find out the available plans that can provide relief should her husband die. Usually, insurance companies have policy plans that provide coverage against different types of risks. They also offer medical and life insurance.
Southwestern Bank offers to lend you $50,000 at a nominal rate of 6.9%, compounded monthly. The loan (principal plus interest) must be repaid at the end of the year. Woodburn Bank also offers to lend you the $50,000, but it will charge an annual rate of 8.1%, with no interest due until the end of the year. How much higher or lower is the effective annual rate charged by Woodburn versus the rate charged by Southwestern?a. 1.68% b. 1.98% c. 2.08% d. 1.78% e. 1.88%
Answers
Answer:
0.98%
Explanation:
Note: Options provided is slightly different for this question
EAR = (1+APR/m)^m - 1
EAR = (1+0.069/12)^12 - 1
EAR = (1.00575)^12 - 1
EAR = 1.07122449517 - 1
EAR = 7.12%
Hence, higher EAR charged by Woodburn versus the rate charged by Southwestern = (8.1% - 7.12%) = 0.98%
Indicate how each of the following transactions affects US exports, imports, and net exports.
Transaction
Effect On...
U.S. Exports U.S. Imports U.S. Net Exports
A British scholar spends a year at Harvard University as a visiting scholar.
Your parents go on a trip to Japan in late March for the Cherry Blossom season.
A Canadian buys a new Ford.
The student bookstore at Yale University sells books published by Cambridge University Press.
A European family goes to Disney World in Florida for vacation.
Choice for the table are: increase, decrease, or unchanged
Answers
Answer: See explanation
Explanation:
Exports are the goods and the services that a particular country produces and sells to other countries.
Imports are the goods produced in other countries and sold to ones country.
Net export is the difference between the export an import. An increase in export leads to a rise in the net export.
Based on the above explanation, the answer to the question will be:
1. A British scholar spends a year at Harvard University as a visiting scholar.
US exports - Increase
Imports - Unchanged
Net exports - Increase
2. Your parents go on a trip to Japan in late March for the Cherry Blossom season.
US exports - Unchanged
Imports - Increase
Net exports - Decrease
3. A Canadian buys a new Ford.
US exports - Increase
Imports - Unhanged
Net exports - Increase
4. The student bookstore at Yale University sells books published by Cambridge University Press.
US exports - Unchanged
Imports - Increase
Net exports - Decrease
5. A European family goes to Disney World in Florida for vacation.
US exports - Increase
Imports - Unhanged
Net exports - Increase
what are true statements about the history of the fractional banking system? multiple select question. the gold reserves represented over 100% of the total money supply. the gold receipts were not accepted as a medium of exchange. goldsmiths issued paper receipts in excess of the amount of gold held. goldsmiths put the paper receipts into circulation by making loans. traders would deposit their gold with goldsmiths.
Answers
The true statements about the history of the fractional banking system include the following:
"Goldsmiths issued paper receipts in excess of the amount of gold held.""Goldsmiths put the paper receipts into circulation by making loans.""Traders would deposit their gold with goldsmiths."What is a fractional banking system?A fractional banking system can be defined as a type of banking system in which only a fraction (small portion) of checkable deposits are backed up by actual cash in bank vaults or deposits in the central bank, and are available for withdrawal.
This ultimately implies that, banks that are operating on the basis of fractional reserves are very much vulnerable and prone to either panics (runs).
Basically, the true statements about the history of the fractional banking system include the following:
Many goldsmiths issued paper receipts in excess of the amount of gold they held. Paper receipts were put into circulation by goldsmiths through loans. Traders usually deposit their gold with goldsmiths.Read more on fractional banking system here: https://brainly.com/question/25239575
#SPJ1
Shares of firm A and firm B trade on an efficient market. The two firms are similar in their operations, are of the same size and risk, and are growing rapidly. They both report the same net income. However, you see in the financial statement notes that firm A uses declining balance amortization for capital assets, while firm Buses straight-line amortization. Which firm's shares should sell at the higher price-earnings ratio, all other things being equal? Explain. Explain why financial statement information has characteristics of a public good. Include a definition of a public good in your answer. What does this imply about using the extent of security market reaction to accounting information to guide accountants? To guide standard setters? Explain in your own words what "post-announcement drift" is. Why is this an anomaly for securities market efficiency? Give two behavioral biases that could generate post-announcement drift.
Answers
Firm B's shares should sell at a higher price-earnings ratio. Declining balance amortization used by Firm A implies higher reported earnings, resulting in a lower P/E ratio.
Financial statement information is a public good because its consumption by one person does not reduce its availability to others. It is non-excludable and non-rivalrous.
This implies that the extent of security market reaction to accounting information may not be a reliable guide for accountants, as the market may not fully reflect the true value of the information. Standard setters should consider other factors beyond market reaction to determine accounting standards.
Post-announcement drift refers to the phenomenon where a stock prices continue to adjust after the release of new information, leading to abnormal returns. This is an anomaly for securities market efficiency because it suggests that markets do not efficiently incorporate all available information at once.
Two behavioral biases that could generate post-announcement drift are overconfidence bias, where investors believe they have superior information or abilities, and anchoring bias, where investors rely too heavily on initial information and do not fully adjust their expectations after new information is released.
Learn more about stock here:
https://brainly.com/question/31940696
#SPJ11
Through which tool does the federal reserve affect money available for banks to loan? discount rate money multiplier open-market operations reserve requirement
Answers
The federal reserve affects money available for banks to loan by using the reserve requirement tool.
What is the reserve requirement in monetary policy?Reserve requirement is said as the set-aside funds by the commercial banks that they utilize for meeting their liabilities and instant withdrawal from customers.
Therefore, when Fed increases the rate of reserve requirement then banks need to hold the large amount which reduces their ability to loan more funds. It ultimately reduces the money supply and vice-versa.
Learn more about monetary policy here:
https://brainly.com/question/13926715
Answer:
d or Reserve requirement
Explanation:
flex point 2023
A company's triple bottom line measures which aspects of its performance? (choose every correct answer.)
Answers
A company's triple bottom line measures environmental, financial, and social. aspects of its performance.
Environmental means relating to or caused by the environment in which a person lives or in which something exists. Protects against environmental influences such as wind and sun. The form that the human family takes is a response to environmental stress.
Financial usually refers to financial matters or transactions of some magnitude or importance. In other words, a financial assistant. Fiscal is used specifically in connection with government or institutional funds. It's the end of the fiscal year. Currency refers specifically to money itself. i.e. currency system or standard.
Relating to interaction with other people especially for pleasure a busy social life.
learn more about the Environmental here. https://brainly.com/question/1888324
#SPJ4
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.