Answer:
Cullumber Company
Bank Reconciliation
August 31, 2022
Cash balance as per bank $7,338
Add: Deposit in transit $2,810
$10,148
Less: Outstanding checks $690
Adjusted Cash Balance $9,458
Cash balance per books $7,374
Add: Electronic fund transfer received $2,126
by bank
$9,500
Less: Bank service charges $42
Adjusted Cash balance $9,458
A landlord rented an apartment to a person with a wheelchair. The landlord allowed the tenant to install bath rails and replace the bathroom sink vanity with a pedestal sink with lever faucet handles; however, the landlord required the tenant to sign a restoration agreement that the accommodations would be restored to their former condition at the end of the lease. In addition, the landlord required the tenant to pay sufficient funds (over a period of time) into an escrow account to cover the bathroom restoration. Has the landlord violated the Fair Housing Act
Answer: No, the landlord can require a restoration agreement and the escrow account
Explanation:
The options to the question are:
A. No, the landlord can require a restoration agreement and the escrow account
B. Yes, the landlord cannot require the escrow account
C. Yes, the landlord cannot require restoration of the modifications
D. No, the landlord does not have to allow the tenant to make any of these modifications
The Fair Housing Act is a law that was put in place in order to curtail the discrimination towards home seekers and tenants by landlords. According to the act, every American should have a fair and equal opportunity regarding the place to reside without discrimination of any sort.
Based on the scenario that have been provided in the question, the landlord can require a restoration agreement and the escrow account.
A real estate licensee specializes in helping both buyers and sellers with the necessary paperwork involved in transferring property. Although not an agent of either party, the real estate licensee may not disclose either party's confidential information to the other. The real estate licensee is BEST described as
Answer:
Transactional broker
Explanation:
Transaction brokers are real estate professionals that offers their services to buyers and sellers, also are called facilitators.
They act in a neutral capacity as they are not agents of the buyer and seller. Instead they act as mediators between the two when transaction is taking place.
Not all states allow such non-agency practices of transaction brokers.
Transaction brokers usually handle details like preparing an offer, determine market price, and writing of contract to buy or sell. They do not get involved in negotiations
DEF Company is incorporating and coming to market with an initial public offering of common stock. The company has already filed their registration statement and the registration has become effective. The company sees that demand for securities is high, and decides to amend the total amount of common stock that will be offered. Would this amendment be allowable under the rules of the Uniform Securities Act
Answer: Yes. The amendment be allowable under the rules of the Uniform Securities Act.
Explanation:
Based on the scenario that have been provided in the question,the amendment will be allowable under the rules of the Uniform Securities Act.
It should be noted that even though the amendments that are made to a registration statement are not allowed when it's beyond the effective date, there is a limited exception when the modification is made to the amount of securities that are being offered.
At the high level of activity in November, 7,000 machine hours were run and power costs were $18,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to $9,000. Using the high-low method, the estimated fixed cost element of power costs is
Answer:
$5,400
Explanation:
During a high level of activity in the month of November, 7,000 machine hours were run and the power costs was $18,000
During a low level of activity in the month of April, 2,000 machine hours were run and the power costs was $9,000
The first step is to calculate the variable cost per unit
= (high power cost-low power cost)/(high machine hours-low machine hours)
= ($18,000-$9,000)/(7,000-2,000)
= 9,000/5,000
= 1.8
Therefore, the estimated fixed cost of the power costs can be calculated as follows
= High power cost-high machine hours×variable cost per unit
= $18,000-7,000×1.8
= 18,000-12,600
= $5,400
Hence the estimated fixed cost element of power costs is $5,400
state 2 reasons that lead to foreign trade.plz answer asap!!!
For imports:
You import when there is lack of production in your own country
or when another country offers a cheaper price and/or better quality good than your own country's industry
for exports:
production surplus.
A greenfield venture in a foreign market is A. one where the company creates a subsidiary business by setting up all aspects of the operation upon entering the market from the ground up. B. one where foreign facilities and marketing strategies are shared withlocal businesses. C. one where the company learns through training by the foreign entity on how to compete. D. one that supports exports into a foreign market by marketing indirectly thru local rivals. E. one that offers lower risk and a faster path to returns by building in rural areas.
Answer:
A. one where the company creates a subsidiary business by setting up all aspects of the operation upon entering the market from the ground up.
Explanation:
Greenfield Investment is one of the types of foreign direct investment. In this type of investment, new branches of a company are created in different countries. The operational team functions from the parent company. The parent companies have full control over the functioning, control, and quality of the subsidiary companies. The employees are provided with the training of the standard level as proposed by the parent company.
State any four uses of funding in a new business
Answer:
Some of these funding options are for Indian business, however, similar alternatives are available in different countries.
Bootstrapping your startup businessCrowdfunding As A Funding OptionGet Angel Investment In Your StartupGet Venture Capital For Your BusinessIn one of the cases in the textbook, Michael Weinstein was the head of Coated Sales, Inc., a company that coated fabrics for use in producing things like parachutes, helmet liners, and camouflage suits. By engaging in financial shenanigans, Coated Sales moved to the top of its industry, but ultimately the good times turned into bad times, and the company declared bankruptcy. What happened to Weinstein
Answer:
The remaining part of the question is:
What happened to Weinstein?
A. After the bankruptcy, he raised new capital and started another fabric coating company.
B. He was convicted, sentenced to prison, and ordered to make restitution.
C. He cooperated with the government and became an informant against his partners who had been siphoning cash off of government contracts.
D. He was placed on probation after reimbursing the shareholders with the profits he had made on investments in the stock market.
Correct Answer:
B. He was convicted, sentenced to prison, and ordered to make restitution.
Explanation:
As a result of the frauds which Michael Weinstein committed leading to the failure of the company, he was charged to court based on the evidence gathered. Later, he was found guilty by the court leading to him being jailed.
At the Blue Restaurants Corporation, an employee survey reports that efforts to increase worker satisfaction by redesigning jobs led to greater job satisfaction. The human resource department also measured lower rates of absenteeism and employee turnover. What will be the most likely impact of these trends on the profits of Blue Restaurants
Answer:
lower costs, leading to higher profits
Explanation:
Improving job satisfaction in the workplace results in better productivity. This is because employees get to enjoy what they do rather than feeling forced to work.
When the workplace is conducive it will result in lower rates of absenteeism and employee turnover.
These in turn lead to lower costs and higher profit.
Staff turnover is costly on the business as new hires have to be trained on the job to be effective.
Which of the following is true of a corporation? Group of answer choices A corporation is owned by partners who have founded the business and have the right to manage it. A corporation does not have a life separate from its owners and its managers. A corporation has the ability to attract capital, more than the limited partnership. A corporation is not a tax-paying entity for federal income tax purposes.
Answer:
A corporation has the ability to attract capital more than the limited partnership
Explanation:
Corporation is defined as a group of people or company that come together to operate a business as a single entity with the approval of the government through incorporation.
Being a legal entity on its own , ownership is separated from the owners as the business itself can be held legally liable and it also pay income tax on the profits.
One of the advantages of corporation over the other forms of business is the ability to attract capital through issuing of share stocks , which form the basis of the size of ownership of each member.
It was the third meeting, but the group had finally agreed on the roles for each member. Cathy felt good about how things were progressing. It seemed that the conflicts had been resolved; Bella and Lewis had actually arrived on time with their tasks completed. Cathy felt they were now a team. They were now in the ________ stage.
Answer: norming
Explanation:
The third stage of a group development model is regarded to as the norming stage. The norming stage is the stage whereby members or teammates start appreciating the strengths that are possessed by each other in the team.
At this stage, there is resolution of conflicts and establishment of leadership positions. Here, everyone is happy with their roles.
A method of identifying the legal description of a property is known as what...? Lot and Block Lot Number ACRIS Property Description
Answer:
Lot and Block
Explanation:
The lot and block survey system is a method often used in Real Estate, that gives a legal description used to identify lands or property in subdivided areas and cities. It is otherwise referred to as a recorded plat survey system or the recorded map survey system. It is extensively used in the United States and Canada.
Hence, the right answer to the question is LOT and BLOCK
On December 1, 20X1, Tigg Mortgage Co. gave Pod Corp. a $200,000, 12% loan. Pod received proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of $4,450, beginning January 1, 20X2. The repayments yield an effective interest rate of 12% at a present value of $200,000 and 13.4% at a present value of $194,000. What amount of accrued interest receivable should Tigg include in its December 31, 20X1, balance sheet
Answer:
$2,000
Explanation:
Accrued interests = loan principal x interest rate x time = $200,000 x 12% x 1/12 (1 month) = $2,000
The adjusting journal entry to record accrued interests should be:
December 31, 20x1, accrued interest receivable
Dr Interest receivable 2,000
Cr Interest revenue 2,000
Interest receivable is an asset account with a normal debit balance.
Answer:
$2,000
Explanation:
Present value of loan = $200,000
Interest rate = 12%
Therefore, the accrued interest receivable can be calculated using the simple interest formula :
Where the present value of the loan is the principal amount,
Accrued interest = principal * rate * time
Since the period is between December 1st to 31 st December = 1 month = (1/12) years
Accrued interest = $200,000 * (1/12) * 12%
Accrued interest = $200,000 * 0.083333 * 0.12
Accrued interest = $2000
Product differentiation refers to: consumers who sort and group goods based on similar characteristics. firms who offer similar products to their competitors' products, but that are more attractive in some way. the process of informing the public of differences in products as a result of error. the process of creating a standardized product with a lower-cost method than the competitors' method.
Answer:
firms who offer similar products to their competitors' products, but that are more attractive in some way
Explanation:
Product differentiation is marketing strategy where a firm makes its different from that of its competitors in order to make the product more attractive to consumers
7. Problems and Applications Q2 Indicate what happens to the unemployment rate and the labor-force participation rate in each of the following scenarios. Scenario Effect On... Unemployment Rate Labor-Force Participation Rate After a long search, Jon finds a job. Tyrion, a full-time college student, graduates and is immediately employed. After an unsuccessful job search, Arya gives up looking and retires. Daenerys quits her job to become a stay-at-home mom. Sansa has a birthday, becomes an adult, but has no interest in working. Jaime has a birthday, becomes an adult, and starts looking for a job. Cersei dies while enjoying retirement. Jorah dies working long hours at the office.
Answer:
The Unemployment rate refers to people in the economy who are actively looking for work but are jobless.
The Labor-force participation rate refers to the percentage of the working age population who are active in the workforce. This includes both employed and unemployed people as unemployed people are actively seeking jobs.
1. After a long search, Jon finds a job.
Unemployment rate - Decrease
Labor-force Participation rate - Same
2. Tyrion, a full-time college student, graduates and is immediately employed.
Unemployment rate - Decrease
Labor-force Participation rate - Increase
3. After an unsuccessful job search, Arya gives up looking and retires.
Unemployment rate - Decrease
Labor-force Participation rate - Decrease
4. Daenerys quits her job to become a stay-at-home mom.
Unemployment rate - Increase
Labor-force Participation rate - Decrease
5. Sansa has a birthday, becomes an adult, but has no interest in working.
Unemployment rate - Same
Labor-force Participation rate - Decreases
6. Jaime has a birthday, becomes an adult, and starts looking for a job.
Unemployment rate - Increase
Labor-force Participation rate - Increase
7. Cersei dies while enjoying retirement.
Unemployment rate - Same
Labor-force Participation rate - Increase
8. Jorah dies working long hours at the office.
Unemployment rate - Increases
Labor-force Participation rate - Decrease
The occurrence that most likely would have no effect on current year net income is the Group of answer choices sale in current year of an office building contributed by a stockholder in 45 years ago. collection in current year of a dividend from an investment. correction of an error in the financial statements of a prior period discovered subsequent to their issuance. stock purchased 14 years ago deemed worthless in the current year.
Answer:
Correction of an error in the financial statements of a prior period that was discovered before issuance.
Explanation:
A prior period adjustment is the correction of an accounting error that occurred in the past and was recorded on a prior year financial statements which is corrected by adjusting the carrying amount of the impacted assets and liabilities as of the first accounting period reported , with an offset to the beginning retained earning balance in that same period
The retrospective correction of prior period error as described above does not affect the current period figures but only the prior period comparative figures.
The XYZ Corporation's A-rated convertible debenture is currently selling for 90. If the bond's conversion price is $40, what is the parity price of the stock
Answer:
$36
Explanation:
Step 1
We find the number of shares the bond is convertible into. This means we find the conversion ratio.
Conversion ratio formula =
Par value/ Bond conversion price
Par value = $1,000
Bond conversion price = 25
Conversion ratio = $1,000/25
= 40 shares.
Step 2
The parity price of the stock is calculated as:
Rate of the convertible debenture (in dollars/ Conversion ratio
In the above question, rate of convertible debenture = 90
converting to dollars = 90 × $10
= $900
Conversion ratio = 40 shares
Parity price of stock = $900/40 shares
= $36
There are two ways to calculate the expected return of a portfolio: Either calculate the expected return using the value and dividend stream of the portfolio as a whole, or calculate the weighted average of the expected returns of the individual stocks that make up the portfolio. Which return is higher? (Select the best choice below.) A. The weighted average expected return of the individual stocks is higher because returns are concave. B. Impossible to tell, it depends on the portfolio. C. Neitherboth calculations give the same answer. D. The weighted average expected return of the individual stocks is higher because returns are convex.
Answer:
Correct Answer:
C. Neither, both calculations give the same answer.
Explanation:
In any given business calculation that is expected to arrive at a particular solution, the solution obtained would always be the same irrespective of the method adopted. For the example, the case of expected return of a portfolio in a business, the calculation would definitely give the same answer when two methods are adopted.
A monopolist engages in price discrimination Question 11 options: A) by charging a higher price when marginal cost is lower. B) by charging a higher price to consumers whose demand is more elastic. C) by charging a lower price to consumers whose demand is more elastic. D) by charging the same price to all consumers.
Answer:
C) by charging a lower price to consumers whose demand is more elastic.
Explanation:
A monopoly is when there is only one firm operating in an industry. there is usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is an utility company
Price discrimination is when a seller sells the same good at different buyers in different markets.
A seller should sell a good at a higher price to the consumer with a less elastic demand and at a lower price to the consumer with the more elastic demand so as to maximise revenue.
Balancing life in college will require paying attention to which aspects of your life in order
to reach long and short term goals?
Finances, social life, academics and personal life
Class time and study time,
Managing your weight while dealing with cooking or meal plan.
Paying attention only to your social life can lead to career opportunities,
Answer:
finance , social life , academics and personal life
An account related with another account on the financial statements that 1) directly reduces the related account and 2) has an opposite normal balance than the related account, is a(n) Multiple Choice Permanent account Temporary account Contra account.
Answer:
Contra account.
Explanation:
A contra account is an account that has an opposite of what is the normal balance for the class of such an account. a company would be able to report the original amount and in so doing also be able to report the reduction and then what is the net amount would be reported. in other words such an account is used to reduce the value of another related account. And thereafter the net value is what is going to be reported.
Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
Answer: input control
Explanation:
From the question, we are informed that Coda Inc. is an apparel manufacturer and that the management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales.
We are further told that it allocates a budget to each function at the beginning of each quarter. This is an example of implementing input control.
Hawkins Poultry Farms is considering the purchase of feeding equipment that costs $139,000 and will produce annual cash flows of approximately $36,000 for five years. The equipment is expected to be sold at the end of five years for $40,000. What is the net present value of the proposed investment
Answer:
NPV = $1,564.65
Explanation:
Here is the full question :
Hawkins Poultry Farms is considering the purchase of feeding equipment that costs $139,000 and will produce annual cash flows of approximately $36,000 for five years. The equipment is expected to be sold at the end of five years for $40,000.
What is the net present value of the proposed investment? Hawkins requires a 15 percent return on all capital investments
Net present value is the present value of after tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-139,000
Cash flow each year from year 1 to 4 = $36,000
Cash flow in year 5 = $36,000 + $40,000 = $76,000.
i = 15%
NPV = $1,564.65
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Keith and his team,employees of an online retailing company,are being trained on cyber surveillance and user security.As part of their training,they are working to identify a solution to the problem of cyber-phishing and data breaches.Which of the following forms of group-building methods is being employed by Keith's team?A) Cross-learningB) Action learningC) Adventure learningD) Virtual realityE) Behavior modeling
Answer: Action learning
Explanation:
From the question, we are informed that Keith and his team, employees of an online retailing company, are being trained on cyber surveillance and user security and as part of their training, they are working to identify a solution to the problem of cyber-phishing and data breaches.
The method used is action learning. This means that the group will get an actual problem, solve it, plan and the results will be shown to the team and the organization.
A member of the city commission insists that the city's internal service fund prepare and submit a budget for commission approval. The commissioner argues that it is only through the budget that the commissioners will be able yo ensure control over the internal service fund. Do you agree or disagree with the commissioner's argument
Answer:
Disagree
Explanation:
In simple words, I will differ with the statement, as I feel that the City Commission will be in a position to monitor the cash flow inside the service delivery resources by providing the expenditure.
There are various sources such as frequent auditing as well as various approvals that has to go through the high command, for using the funds generate.
Thus, the commissioners is arguing wrong perspective with the council.
South Korea has developed amazingly, with huge corporations making vast amounts of money and giving everyone there a high standard of living, while the vast majority of people in the Central American nation of Guatemala are plagued by extreme poverty, violence, and poor living conditions. This is an example of:
Answer: Uneven Development
Explanation:
South Korea is one of the success stories of the last century. After the Korean War devastated large parts of the Korean peninsula, foreign aid poured in and the people embraced development fully. This led to the development of large corporations such as Samsung making vast amounts of money and giving everyone there a high standard of living.
Guatemala on the other hand has been ravaged by poverty and poor living conditions for a long time resulting from a bloody civil war that lasted for decades. This led to gangs been formed to compete for resources as well as illegal activities being carried out such as drug trafficking. This only made things worse.
These are 2 countries are a prime example of how countries in the world are experiencing Uneven Development. How in one nation the standards of living are high and people are safer but on the same planet and in another nation people are living in abject poverty and fearing constantly for their lives.
A company purchased a computer system at a cost of $34,000. The estimated useful life is 8 years, and the estimated residual value is $9,000. Assuming the company uses the double-declining-balance method, what is the depreciation expense for the second year
Answer:
Year 2= $4,687.5
Explanation:
Giving the following information:
Purchase price= $34,000
Useful life= 8 years
Salvage value= $9,000
To calculate the depreciation expense under the double-declining-balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Year 1= [(34,000 - 9,000)/8]*2= $6,250
Year 2= [(25,000 - 6,250)/8]*2= $4,687.5
James Stillman is an investment adviser representative with Rock, Feller, and Standard (RFS), a covered adviser with its principal office in State O. Stillman works out of an office in State P and has 4 retail clients there. In addition, Stillman has 25 retail clients in State D, 6 retail clients in State M, and 1 retail client in State O. Stillman would be required to register as an investment adviser representative in
Answer:
Stillman should register as an investment adviser representative in state P.
Explanation:
Investment adviser representatives (IARs) must necessarily register in the state that they work in. In this case, Rock, Feller, and Standard (RFS) must be registered in all the states where it has offices functioning, but Stillman only needs to register in the state where his office is. If Stillman worked half year in state P and the other half in state M, then he would need to register in both states. But since this is not the case, then registering in state P should be enough.
For February, sales revenue is $900,000, sales commissions are 5% of sales, the sales manager's salary is $96,000, advertising expenses are $80,000, shipping expenses total 2% of sales, and miscellaneous selling expenses are $2,100 plus 1/2 of 1% of sales. Total selling expenses for the month of February are
Answer:
$245,600
Explanation:
The computation of Total selling expenses is shown below:-
Particulars Calculation Amount
Sales Commissions ($900,000 × 5%) $45,000
Salary expenses $96,000
Advertising expenses $80,000
Shipping expenses ($900,000 × 2%) $18,000
Miscellaneous selling
expenses ($2,100 + 1 ÷ 2 × $6,600
($900,000 × 1%)
Total Sales expenses $245,600
We simply added all the items
_______________________ the failure rate for businesses in the Amish community hovers around 5 percent.
(A) Unlike mainstream American businesses, more than half of which fail
(B) Unlike mainstream American businesses, in which the failure rate is more than half
(C) Unlike mainstream American businesses, where more than half of them fail
(D) While the rate of mainstream American businesses failing is more than half
(E) While more than half of mainstream American businesses fail
Answer:
(D) While the rate of mainstream American businesses failing is more than half
Explanation:
i think im not so sure
Answer:
Yeah its D
Explanation: