The mean is a mathematical concept that is used to determine what the average number is in a given set of numbers. For example, given a set of numbers, 5, 1, 1, 1, and 4, the mean is 2.4 ([tex]\frac{5+1+1+1+4}{5}[/tex]), where /5 is the sum of the given set of numbers.
What is the Median?The median is a term used to represent the middle value in a given set of numbers. For example, given a set of numbers, 5, 1, 1, 1, and 4, the median is 1 because it is the middle for this set of numbers counting from left to right.
What is the mode?The mode is a term that refers to the most frequently repeated value in a given set of numbers. For example, given a set of numbers 5, 1, 1, 1, and 4, the mode in the set is 1 since it occurs most, exactly three times.
What is the Standard deviation?Standard deviation is a statistical method used to determine how far (i.e the deviation) of a given dataset relative to its mean. It is often calculated as the square root of variance.
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A free enterprise system provides individuals the opportunity to make their own economic decisions without restrictions from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. It also requires entrepreneurs to rise or fall on their own without government support. Do you believe this type of economic system is more or less helpful, and why? Write an argumentative essay that explains your position.
A free enterprise system allows the supply and demand of consumers to determine the success or failure of an economic endeavor.
What is a free enterprise?It should be noted that a free enterprise simply means the freedom of individuals and businesses to regulation.
Here, free enterprise system provides individuals the opportunity to make their own economic decisions without restrictions.
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Answer:
C.
Explanation:
free enterprise system
West College
3880 29 Street NE
CALGARY, ALBERTA, T1Y6B6
TO: Limerick Corp. INVOICE 12-1
2 3880 34 St NW
East Brook, Alberta, July 1, 20XX
Attention: IIene Curan
21 Sessions Scheduled for July $ 42,000.00
G.S.T $ 2,100.00
Due this invoice $ 44,100.00
The journal entry to record this invoice is :
Date Particulars Debit $ Credit$
July 1 Accounts receivables 44100
To Service revenue 42000
To GST Payable 2100
(To record amount billed to customer)
Magazine access is a document of a commercial enterprise transaction in your commercial enterprise books. In double-entry bookkeeping, you make at least two journal entries for every transaction. because a transaction can create lots of adjustments in a commercial enterprise, a bookkeeper tracks all of them with journal entries.
Magazine access is the act of maintaining or making records of any transactions either financial or non-economic. Transactions are listed in an accounting magazine that indicates a company's debit and credit score balances. The journal entry can encompass numerous recordings, every of that's both a debit or a credit.
An example of a journal entry includes the acquisition of equipment by using us of a wherein the equipment account might be debited, and the cash account may be credited.
Disclaimer: The question is incomplete. Please read below to find the missing content.
Question: How to record this in the invoice
West College
3880 29 Street NE
CALGARY, ALBERTA, T1Y6B6
TO: Limerick Corp. INVOICE 12-1
2 3880 34 St NW
East Brook, Alberta, July 1, 20XX
Attention: IIene Curan
21 Sessions Scheduled for July $ 42,000.00
G.S.T $ 2,100.00
Due to this invoice $ 44,100.00
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b. Explain the following term as used in sole proprietorship type of business.
(i)Asset
Answer:
any investment that holds value.
Explanation:
can be land, equipment, supplies, lawn mowers, cash, etc. Same as other forms of businesses
Discuss how you will use the "8-Step process
to critical thinking" in your personal and
professional life. Provide examples to
support your answers
I will use the "8-Step process to critical thinking" in my personal and professional life in many ways.
What is the "8-Step process to critical thinking"?The "8-Step process to critical thinking" includes the following categories:
ReflectionAnalysisInformation AcquisitionCreativityStructuring argumentsDecision makingCommitmentDebate.The 8-step process involves a process of identifying, observing, describing, questioning, researching, establishing, responding, and sharing knowledge to achieve life improvements.
In my personal and professional life, I need to seek knowledge, information, and understanding to enhance the application of concepts and innovations to living and work.
After acquiring the required information, I will carry out a critical analysis and synthesis before taking action. Results obtained from my actions must be reflected upon to provide guidance for future activities.
Thus, the "8-Step process to critical thinking" will remain useful in my personal and professional life.
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The ledger of the Blue Spruce Corp. at the end of the current year shows Accounts Receivable of $237,000.
(a)
If Allowance for Doubtful Accounts has a credit balance of $4,700 in the trial balance and bad debts are expected to be 9% of accounts receivable, journalize the adjusting entry for the end of the period. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answer: Dr: increase in provision for bad debts of 16630
Cr: P & L a/c 16630
Explanation:
finally reduce the figure for a/c receivables by 21330
There are three individual firms in happy Valley the government wants to reduce pollution and 90 units so it gives each firm 30 tradable pollution permits Farme has 30 units at five dollars firm be has 45 units at $10 and firm C has 60 units at $20 because firm blank has the highest cost of reducing pollution by one unit it would like to blank another firm because firm blank has the lowest cost of reducing pollution by one unit
How could the Federal Reserve use monetary policy to stimulate the economy?
The Federal Reserve implements monetary policy primarily by influencing the federal funds rate. This is the interest rate that financial institutions charge each other to borrow reserves in the money markets overnight. The Fed's monetary policy measures described below, affect the level of federal funds rates.
When a central bank like the Fed changes interest rates, it affects the economy as a whole and affects both the stock and bond markets in many ways. Lower interest rates make borrowing money cheaper. This can drive consumer and corporate spending and investment and boost asset prices.
The goals of monetary policy are maximum employment, stable prices, and moderate long-term interest rates. By implementing effective monetary policy, the Fed can maintain stable prices, thereby supporting long-term economic growth and maximum employment conditions.
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Suppose that the federal budget is balanced when GDP is at potential GDP. If equilibrium GDP falls below potential, please explain how and why government transfer payments would change; how and why tax receipts would change; how and why the budget would change.
The federal budget is the difference between the income of the government and its expenditure as illustrated in the GDP.
How to explain the information?The income of the government is tax revenue and when expenditure is more than the income, the budget is said to be in deficit. Potential GDP is the maximum GDP that an economy is able to produce with the given level of resources in the long run. In times of recession, the actual GDP is less than the potential GDP, which means the output produced is less than the capability of the economy.
Inn such periods, GDP is low, unemployment is very high and aggregate demand is also very low. When the economy is in recession, the income of the people falls and thus, the tax they pay out of their incomes also falls. Therefore, the tax receipts fall due to a fall in income.
On the other hand, in recessions, the government uses expansionary fiscal policy which directly injects money by either increasing government spending or reducing the tax rate. Therefore, when the tax rate falls, the tax revenue or tax receipts fall. The government spends money on the public to increase social welfare.
The budget of the government is the difference between tax receipts and transfer payments. When the tax receipts fall and transfer payments rise. Thus, the budget of the government falls and the federal budget is said to be in deficit.
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On January 1 of this year, Nowell Company issued bonds with a face value of $140,000 and a coupon rate of 7.5 percent. The bonds mature in ten years and pay interest semiannually every June 30 and December 31. When the bonds were sold, the annual market rate of interest was 7.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.)
What amount of cash is owed to investors on June 30 and December 31 of this year?
Based on the face value of the bonds and the coupon rate, the amount owed to investors by Nowell Company is:
June 30 = $5,250December 31 = $5,250How much is owed to investors?This can be found as:
= (Coupon rate x Face value) / 2 semi annual periods
Solving gives:
= (7.5% x 140,000) / 2
= $5,250
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Lands’ end allows customers buying shirts to choose from a variety of fabrics and types of collar and sleeve based on the customer’s specific measurements, capitalizing on new technologies to mass customize its products and services. This is an example of:.
This is an example of Micromarketing.
What is Micro Marketing?As the name suggests, micromarketing is marketing on a small scale. It is a form of target marketing as well. That means you deliberately develop material that will speak to your targeted client niche rather than putting out advertisements and content with the intention of appealing to everyone. Micromarketing is far more specialized than standard marketing, and its straightforward definition is "targeted marketing to a niche or particular group."
Therefore, Lands’ end allows customers buying shirts to choose from a variety of fabrics and types of collar and sleeves based on the customer’s specific measurements, capitalizing on new technologies to mass customize its products and services, which is an example of Micro-Marketing.
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Cost of Goods Sold = Revenue - Operating Profit, is it right? I have report about the unilever financial result, but I haven't seen the number of the cost of goods sold in its sheet!
Answer:
COGS= Revenue- Gross profit
Explanation:
exactly speaking, operating profit refers to the net profit and COGS=sales revenue - gross profit. so try to find the data of gross profit instead of operating profit (net profit)
If you don't have data of gross profit, you can attempt this equation:
gross profit = operating profit (net profit) + operating expense + (depreciation and amortization)
Discuss a principle of management in business
The principle of management include planning, organizing, staffing, etc.
What is a management?It should be noted that management means the administration of an organization.
In this case, principle of management include planning, organizing, staffing, etc. Planning has to do with the stores put in place to achieve the goals of the organization.
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Shoprite environmental impact on people
ShopRite impacts the environment by reducing harm to the environment and creating job in the recycling sector.
What is an environment?It should be noted that an environment simply means the surrounding where an organism lives.
At ShopRite, plastics wastes that are generated are recycled into carrier bags. This helps in reducing harm to the environment.
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What is the journal entry for declaring $9000 dividend to be paid next month
The journal entry for declaring a $9,000 dividend to be paid in the coming month is:
Date Account Title Debit Credit
XX-XX-XXXX Retained earnings $9,000
Dividends Payable $9,000
How is dividend declared recorded?The Retained earnings account will be debited to show that the account is decreasing. This is because dividends are taken from the retained earnings of a company.
The dividends payable account will be credited with $9,000 to show that the company now owes its shareholders $9,000. This will then be debited next month to show payment.
In conclusion, retained earnings are debited, and dividends payable are credited.
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bottom up approach is not applicable when
Bottom up approach is not applicable systematically to all places in all circumstances.
The bottom-up approach can not be carried out systematically to all locations in all situations.The bottom-up technique is being applied when off-the-shelf or existing additives are decided on and incorporated into the product. An example would encompass choosing a selected fastener, which include a bolt, and designing the receiving components such that the fastener will fit nicely.
When selections are being made at multiple degrees, personnel can be running without checking in with one another. Bottom-up processing is a justification for insights that start with an approaching improvement and operating upwards until an define of the thing is fashioned to us. It refers to processing sensory information as it's miles coming in.
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Normalization
Moore Products uses the allowance method in estimating uncollectible accounts. On December 31, 2022, the balance in Accounts Receivable was $610,000. An aging analysis of the accounts receivable indicated that $29,600 in accounts are expected to be uncollectible.
Prepare the adjusting entry to record estimated bad debts expense using the percentage of receivables basis under each of the following independent assumptions:
(a)
Allowance for Doubtful Accounts has a credit balance of $4,100 before adjustment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
The adjusting entry to record estimated bad debts expense using the percentage of receivables basis is:
Bad Debt Expense Account dr........ $25,500
To Allowance for Doubtful Account $25,500
(Being the bad debt expense is recorded)
For recording this, we credit the allowance for doubtful debts, which decreased the value of the assets and debit the bad debt expenditure, which raised the expenses.
Additionally, since there is a credit balance, the account receivable is reduced accordingly.
The amount for bad debt expense Account = $29,600 - $4,100
= $25,500
Hence, The adjusting entry to record estimated bad debts expense using the percentage of receivables basis is:
Bad Debt Expense Account dr........ $25,500
To Allowance for Doubtful Account $25,500
(Being the bad debt expense is recorded)
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from order Technology plays a major role in how warehouses are managed these days processing right through to inventory keeping and shipping. Do some research on what systems are available and specifically the financial benefits it holds for the user and owner. Write a short essay of no longer than 250 words.
The purpose of a WMS is to help provide that goods and materials move through warehouses in the most efficient and cost-effective way. A WMS handles many processes that enable these movements, including inventory tracking, picking, receiving and putaway
How does information technology help with warehousing?The real-time information provides accurate, current information to managers, warehouse workers, and operations personnel – all at the identical time – for better decision-making. Besides real-time information, WMS releases the guesswork of where the event is found.
What's the most significant thing in warehouse management?Goods tracking.Selection and packing.Receiving and stowingShipping.ReportingEnable logistical growth.Parcels are processed and shipped faster.To learn more about warehouses, refer
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For this assignment, respond to each of the questions presented in that lecture. You do not need to submit a completed outcomes planning wheel for this assignment, but should use it in drafting your response to the questions.
What organizational goal is driving this training? · What will the benefit be? · What is the skill gap? · What competencies (knowledge, skills, or attitudes) will this program need? · What evaluation will be used to measure the level of goal achievement? · Who will be trained? · What is the estimated class size? · How many classes will there be and how long will this training last? · What are the knowledge and skill prerequisites? · What type of program is being proposed? · What media, if any will be used in the training? · What will happen if we do not deliver the training? · What are the restrictions or limitations for delivering a program? · What other methods may be used to reach the goal (include limitations and advantages)?
In the above case, a skill acquisition will be the aim of the program.
What organizational goal is driving this skill acquisition training?The purpose of skill acquisition is so that student can be able to learn one or more trade so that they can earn a living after school
What will the benefit be?The benefit of acquiring a skill is that one will be equipped with a lot of good resources and also the skill of financial management, one will have improved strategic planning and others.
What competencies will skill acquisition need?
It just need your presence, one's talents and expertise that has been obtained via education or or life experience.
What is the skill gap? Critical thinking/problem solvingPaying Attention to detail.Leadership. Teamwork. What evaluation will be used to measure the level of goal achievement?Output based on work done, practical work and result.
Who will be trained - student.
The estimated class size- 50 - 100
How many classes will there be and how long will this training last - 20 class and it will last 2 month.
knowledge and skill prerequisites -Ability to read and understand and also just come and you will be taught.
The type of program that is being proposed - skill and handwork training.
What media, if any will be used in the training - visual, media and communication tools will be used·
What will happen if we do not deliver the training - giving of certificates and graduation.
What are the restrictions or limitations for delivering a program - financial restriction.
What other methods may be used to reach the goal - use of the mass media for dissemination of information concerning the program. Its advantage is that it will benefit all and the disadvantage is financial constrain.
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explain controlling as a management task
Controlling is a management function that aids in obtaining desired results from employees at all organizational levels, including managers and subordinates.
Verifying if everything happens in accordance with the plans adopted, the directions issued, and the principles established constitutes controlling. Controlling makes sure that organizational resources are used effectively and efficiently to accomplish the intended goals.
The managing role identifies deviations, tracks progress toward corporate goals, and suggests necessary corrective action. In order to make the appropriate decisions regarding each, Controlling entails the meticulous gathering of knowledge about a system, process, individual, or group of people.
Managers establish and communicate while performing the management function of controlling. performance criteria for individuals, organizations, and technology
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A traveler needs to _____________ only when upon returning from an international trip.
agree to hand inspection of baggage
fill out a Customs Declaration Form
pass through airport security
show a form of government identification
A traveler needs to show a form of government identification only when upon returning from an international trip.
US ID cards are usually local state-issued driver's licenses or ID cards, but social security cards (or just social security numbers) and US passport cards also serve as national ID cards.
A valid government-issued ID must include a photo, current address, signature, and a unique number or barcode associated with the individual (driver's license, passport number, etc.). ID) When submitting Form DS-11 in the following cases: 18 years or older. parent or legal guardian
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Bearcat uses $1,200 of supplies in 2021. Record the adjusting entry for supplies at its year-end of December 31.
The adjusting entry is to debit "supplies expense" for $1,200 and a to credit "supplies" for $1,200.
What is an adjusting entry?This refers to the journal entry that occurs at the end of a reporting period to record any unrecognized income or expenses for the period.
Hence, in this case, the adjusting entry is to debit "supplies expense" for $1,200 and a to credit "supplies" for $1,200.
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Part 1: Describe the following in 175 words: • 2 of the main risks of entrepreneurship and small business ownership
A $298 petty cash fund has cash of $32 and receipts of $247. The journal entry to replenish the account would include credit to Petty Cash for $247. debit to Cash for $247. debit to Petty Cash for $266. credit to Cash for $266.
The journal entry to replenish the petty cash account is credit to Cash for $266.
How would petty cash be replenished?The amount that needs to be replenished is:
= Petty cash fund - cash
= 298 - 32
= $266
This amount needs to be taken from the cash account which is why the cash account will be credited with $266.
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The two most basic inventory questions answered by the typical inventory model are:.
The two most basic inventory questions answered by the typical inventory model are the timing of orders and order quantity
What is the timing of orders and order quantity?
The time elapsed between the start of a stock replenishment activity and the submission of a requisition or order. The amount of time that passes between the submission of a requisition or order and the shipment of material by the supplying activity is known as timing of orders.
Economic Order Quantity, also known as Economic Purchase Quantity, is the order quantity in inventory management that minimizes overall holding costs and ordering expenses. It is one of the most ancient traditional production scheduling models.
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a client company is selling high value specialized assets, and your company has specialist expertise. your firm is approached by 4 potential bidders. can you work for more than one bidder?
The inference based on the information given about the bidders is that one can't work for more than one bidder.
What is an inference?It should be noted that an inference simply means the conclusion that can be deduced based on the information given.
Here, one can't work. for more than one bidder as there will be a clash of interest and bias.
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Discuss authority and responsibility in principles of management
Answer:
Authority of a manager is the right way of commanding subordinates, issuing orders, and getting the team to comply with them. Further, it is the right of the manager to make decisions and to act or refrain from acting based on his perception of the organization's objectives
Explanation:
price is important to managers
Price is important to managers because it has a substantial effect on a company's profitability and sustainability.
Why is pricing important?The importance of pricing is traced to the fact that defines the value or worth of a product and the number of customers that demand the product.
For the consumer of products, price is a key factor that determines purchase decisions.
Thus, price is important to managers because it has a substantial effect on a company's profitability and sustainability.
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Question Completion:Why is price important to managers?
should central banks implement expansionary monetary policy to prevent deep recessions with uncertain long-term consequences?
Yes, the bank should use expansionary monetary policy.
When the economy is in recession and the produces less than its potential GDP, then expansionary fiscal policy is most suitable. The contractionary fiscal policy reduces the aggregate demand by either cutting government expenditure or raising the taxes.
During difficult economic circumstances, the central bank may use the expansionary monetary policy to reduce the unemployment and stimulate growth. It normally does so by decreasing its benchmark federal funds rate, or the interest rate at which banks lend to one another to meet reserve requirements.
Therefore, the answer is yes.
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At the end of the current year, Accounts Receivable has a balance of $825,000; Allowance for Doubtful Accounts has a credit balance of $7,500; and sales for the year total $3,710,000. Bad debt expense is estimated at 1/4 of 1% of sales.
A) Determine the amount of the adjusting entry for uncollectible accounts.
b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Accounts Receivable:
Allowance for Doubtful Accounts:
Bad Debt Expense:
c. Determine the net realizable value of accounts receivable.
A. The amount of the adjusting entry for uncollectible accounts is $1,775.
B. The adjusted balances of the Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense are:
Accounts Receivable: $4,535,000
Allowance for Doubtful Accounts: $9,275
Bad Debt Expense: $1,775
C. The net realizable value of the accounts receivable is $4,525,725.
What is the net realizable value of accounts receivable?The net realizable value of accounts receivable is the estimated collections that can be recovered from credit customers.
It is the difference between the total credit sales and the allowance for doubtful accounts.
Data and Calculations:Ending balances:
Accounts Receivable $825,000 DR
Allowance for Doubtful Accounts $7,500 CR
Sales = $3,710,000
Estimated bad debt expense = 0.0025 (1/4 of 1%) of sales
= $9,275 ($3,710,000 x 0.0025)
A. The amount of the adjusting entry for uncollectible accounts is $1,775 ($9,275 - $7,500).
B. The adjusted balances of the Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense are:
Accounts Receivable: $4,535,000 ($825,000 + $3,710,000)
Allowance for Doubtful Accounts: $9,275
Bad Debt Expense: $1,775
C. The net realizable value of the accounts receivable is $4,525,725 ($4,535,000 - $9,275).
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define formula p(1+i)n-p
Answer:
Or 1 hp =746 watt. Also, One Horsepower equals to 33,000 lb. ft/min. Horsepower formula is: Horsepower = \frac{Torque × speed}{ ...
Horsepower is a popular imperial unit of power of an engine. It is defined as the work done by a person or machine per unit amount of time. This term of Horsepower was invented by James Watt. It is a unit of power that compares the power of a machine to the muscle power of the horse.
In earlier days it was used to measure steam engine power output compared to the power of draft horses. But later on, its usage was expanded to different types of piston engines, electric motors, turbines, and other machinery.
Horsepower Formula
The formula for Horsepower calculation:
First, we will see some equations to help in calculating the horsepower:
Power = worktime
For the electric motors, we can calculate the power or horsepower from the torque and speed. For example, if we have a motor with 3,000 rpm and 6 in-lbf then the horsepower can be calculated below.
Horsepower = 300×663025
i.e. horsepower = 0.286
Here, 63025 is a constant when using rpm for speed and in-lbf for torque units. 5252 is another common constant if the speed is in rpm and torque is in ft-lbf. If the units are different then first we have to make the unit conversion.
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The derivation of these constants is as follows:
33,000 ft-lbf /min = 1 horsepower.
Though horsepower units is a derivative of the 33,000 ft-lbf / min, it is not critical to understanding how to calculate motor horsepower for speed and torque.
Another common but popular unit of power that motors are rated in is watts. The conversion from watts to horsepower is:
745.7 watts = 1 horsepower
Or 1 hp =746 watt.
Also, One Horsepower equals to 33,000 lb. ft/min.
Horsepower formula is:
Horsepower = Torque×speed5252
With another computation,
Horsepower = weight × velocity(234)2
Solved Examples on Horsepower Formula
Q.1: Determine the horsepower of a vehicle which moves with a speed of 500 revolutions per minute and has a torque of 100 pound-foot.
Solution:
Given parameters in the problem are:
Torque = 100 pound foot
Speed = 500 revolutions per minute
Now we may apply the Horsepower formula as below:
Horsepower = Torque×Speed5252
Substituting the known values, we get
Horsepower = 100×5005252
= 500005252
Horsepower = 9.52 HP
Therefore the horsepower of the engine of the vehicle will be 9.52 HP.