Answer:
7.05%
Explanation:
John and Fred owned, as joint tenants with right of survivorship, business property that they purchased for $40,000. John furnished one fourth of the purchase price and Fred furnished three fourths of the purchase price. Depreciation deductions allowed before Fred's death were $8,000. Under local law, each had a one half interest in the income from the property. At the time of Fred's death, the fair market value of the property was $80,000, three fourths of which is includable in Fred's estate. What is John's basis in the property at the date of Fred's death
Answer:
$66,000
Explanation:
Given the following :
Property pur has price = $40000
John's portion of purchase price = 1/4 = (1/4 * 40000) = $10,000
Fred's portion = 3/4 = 0.75 * 40,000 = $30,000
Depreciation allowed before Fred's death = $8000
Each beared half :
That is ; (0.5 * $8000) = $4000 each
Fair market value of property at the time of Fred's death = $80,000
Portion owned by Fred at the time = 3/4
0.75 * $80,000 = $60,000
At this time, John has taken up full ownership :
Basis = $6000 + $60,000 = $66,000
Randy complained to his boss Maryann that he received the same bonus this quarter as everyone else,despite the longer hours he had worked and his higher level of experience,production and efficiency.If Maryann can't change the bonus,she should expect that Randy might respond in any of the following ways except _____.
A) ignoring his feeling of resentment and trying harder in next quarter
B) transferring
C) quitting
D) reducing his production
E) reducing his hours
Answer:
A) ignoring his feeling of resentment and trying harder in next quarter
Explanation:
It is common for employees who are frustrated for some reason to be able to use negative emotions to deal with the situation, such as reduced productivity, commitment and engagement at work.
Therefore, it is not expected that an employee will try harder in the next quarter after this situation.
But in an ideal scenario, the key would be for the employee to continue to strive and do his job in the best possible way, because in some situation there may be a reward, since a good manager knows his employees and is concerned with creating strategies that be able to recognize and reward your efforts.
______ costs are administrative costs related to determining an order quantity, preparing purchase invoices, inspecting goods received for quality and quantity, and moving goods for temporary storage.
Answer: Ordering
Explanation:
Ordering cost tends to look at the cost required to order a particular item, from the initiation of the process till it's being inspected on it's arrival till it's moved to the store room. The first aspect is making enquires for the item, this us followed by bidding for the item, purchasing it, inspection and delivering to it's temporary location.
Modern quality management approaches recognize the importance that quality: Group of answer choices Is planned, built, and inspected into the product, service, or result. Does not cost to plan and implement into the project. Is best implemented through inspection the project final deliverables. Requires constant, vigilant inspection.
Answer:
Processes and activities of the performing organization that determine quality policies, objectives and responsibilities so the project will satisfy the needs for which it was undertaken.
Uses policies and procedures to implement, the organization's quality management system and it supports continuous process improvement activities as undertaken on behalf of the performing organization. It works to ensure that the project requirements, including product requirements are met and validated.
Addresses the management of the project and the deliverables of the project. Applies to all projects, regardless of the nature of their deliverables. Quality measures and techniques are specific to the type of deliverables being produced by the project.
For example, software deliverables may use different approaches and measures vs building a nuclear power plant. In either case, failure to meet the quality requirements can have serious, negative consequences for any or all of the project's stakeholders.
Meeting customer requirements by overworking the project team may result in increased profits and increased project risks, employee attrition, errors, or rework
Meeting project schedule objectives by rushing planned quality inspections may result in undetected errors, decreased profits, and increased post-implementation risks
Explanation:
Processes and activities of the performing organization that determine quality policies, objectives and responsibilities so the project will satisfy the needs for which it was undertaken.
Uses policies and procedures to implement, the organization's quality management system and it supports continuous process improvement activities as undertaken on behalf of the performing organization. It works to ensure that the project requirements, including product requirements are met and validated.
Addresses the management of the project and the deliverables of the project. Applies to all projects, regardless of the nature of their deliverables. Quality measures and techniques are specific to the type of deliverables being produced by the project.
For example, software deliverables may use different approaches and measures vs building a nuclear power plant. In either case, failure to meet the quality requirements can have serious, negative consequences for any or all of the project's stakeholders.
Meeting customer requirements by overworking the project team may result in increased profits and increased project risks, employee attrition, errors, or rework
Meeting project schedule objectives by rushing planned quality inspections may result in undetected errors, decreased profits, and increased post-implementation risks
A prospective homebuyer signs a brokerage agreement under which the real estate company will help the client find a three-bedroom house in the $185,000 to $200,000 price range. A seller comes into the real estate company's office and signs a listing agreement in which the real estate company will act as the seller's agent to sell a two-bedroom condominium for $170,000. Based on these facts, which statement is TRUE
Options:
a.) The buyer is the real estate professional's client; the seller is the real estate professional's customer.
b.) The buyer is the real estate professional's customer; the seller is the real estate professional's client.
c.) While both the buyer and the seller are clients, the real estate professional owes the fiduciary duties of an agent only to the seller.
d.) Because both the buyer and the seller are the real estate professional's clients, the real estate professional owes the fiduciary duties of an agent to both
Answer: d.) Because both the buyer and the seller are the real estate professional's clients, the real estate professional owes the fiduciary duties of an agent to both
Explanation: According to the scenario above, both the buyer and the seller are clients of the real estate professional and as such service providers or professionals have moral and ethical obligations which must be performed in other to avoid situations which could compromise the integrity and professionalism of the real estate personnel. Therefore the real estate professional owes both the seller and buyer fiduciary duties (ethical relationship) and hence should deal with fairness between them.
Which of the following was the first emission control device?
A.Muffler
B.Catalytic converter
C.PCV Valve
D.HO2S Sensor
Answer:
The answer is A. The Muffler
Explanation:
The first muffler for cars was designed in 1897.
The function of the car muffler is to slow down the speed of movement of the exhaust gases, which helps to smooth the movements of the engine, reduce the temperature of the gases and reduce the emissions of substances that are harmful to the environment.
In 20X4, X Company purchased land for a new office building at a purchase price of $325,000. There was an existing building on the site that was demolished at a cost of $12,000. Scrap from the demolition was sold for $3,500. The building was completed during 20X4. In addition:
Answer:
$359,000 and $1,323,000
Explanation:
The computation of the amount reported for land and building is shown below:
For land
= Purchase price + attorneys + demolishing cost - scrap value + engineering fees
= $325,000 + $7,500 + $12,000 - $3,500 + $18,000
= $359,000
For buidling
= Architect fees + building permits + construction cost
= $40,000 + $8,000 + $1,275,000
= $1,323,000
Vasudevan Inc. recently reported operating income of $2.90 million, depreciation of $1.20 million, and had a tax rate of 40%. The firm's expenditures on fixed assets and net operating working capital totaled $0.6 million. How much was its free cash flow, in millions?
Answer:
2.34 million
Explanation:
Vasudevan incorporation reported an operating income of $2.90 million
The depreciation is $1.20 million
The tax rate is 40%
= 40/100
= 0.4
The firm's expenditure on fixed assets and net operating working capital is $0.6 million
Therefore, the free cash flow can be calculated as follows
Free cash flow= operating profit-tax+depreciation-expenditure
= 2.90-(2.90×0.4)+1.20-0.6
= 2.90-1.16+1.20-0.6
= 2.34
Hence the free cash flow is 2.34 million
If the book value per share is $40 and the market price is 52.50 per share calculate the required rate of return on the stock.
Answer:
0.11 or 11%
Explanation:
The computation of the required rate of return is given below:
Required Rate of Return is
= Next Year Dividend ÷ Current Market Price + Growth Rate
= $3.15 ÷ $52.50 + 0.05
= 0.06 + 0.05
= 0.11 or 11%
working note
Given that
Current Market Price = $52.50
As we know that
Growth Rate = Return on Equity × Retained Earning Ratio
Now
Return on Equity = EPS ÷ Book Value of Share
= $5 ÷ 40
= 12.50%
So,
Retained Earning Ratio is
= 1 - Dividend Payout Ratio
= 1 - 0.60
= 0.40
And,
Dividend Payout Ratio = DPS ÷ EPS
= $3 ÷ $5
= 0.60
Now
Growth Rate = 12.50% × 0.40
= 5%
So,
Next Year Dividend = Dividend Recently paid × (1 + growth rate )
= $3 × 1.05
= $3.15
A corporation has shares of % preferred stock outstanding. Also, there are shares of common stock outstanding. Par value for each is $100. If dividend is paid, how much goes to the preferred stockholders?
Answer:
$600,000
Explanation:
Calculation for how much goes to the preferred stockholders
Using this formula
Preferred stockholders=Number of preferred shares outstanding * Preferred stock par value * Percentage of Annual dividend
Let plug in the formula
Preferred stockholders=50,000 x $100 x 0.12
Preferred stockholders= $600,000
Therefore If dividend is paid the amount of $600,000 goes to the preferred stockholders
Kate's Diner offers one breakfast item, a breakfast special. The market price for this meal is $5. At her profit-maximizing level of output, Kate's average variable cost is $4 per meal. Her average total cost is $6 per meal. Since the market is perfectly competitive, Kate should ________.
Answer:
keep producing in the short run but exit the industry or go out of business in the long run
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A firm should shut down in the short run if price is less than average variable cost. But since the diner's price is greater than average variable cost, it should continue production.
A firm should exit the industry in the long run if price is less than average total cost. the diner's price is less than average total cost, so it should shut down in the long run
Andrea hired Jack to be the sales agent for her paintings. However, in a month's time, she terminated the agency with Jack. Harold, a customer who had dealt with Jack earlier, was not aware of the termination. Harold approached Jack to buy a painting and wrote him a check of $5,000, the advance payment for the painting which Jack promised would be delivered in two weeks. When Jack did not contact Harold later, Harold demanded that Andrea honor the contract, since Jack sold the picture as her agent. Which of the following is true of this situation?
A. Since Jack had apparent authority, Andrea is liable to honor his contract with Harold.
B. Harold's duty was to contact Andrea. His failure to do this removes her liability to honor the contract.
C. Jack had express authority as Andrea's agent, which is not terminated with the termination of their agency.
D. As Andrea terminated the agency with Jack in violation of his rights, Jack has the direct authority to sell her paintings.
Answer:
A. Since Jack had apparent authority, Andrea is liable to honor his contract with Harold.
Explanation:
The Contract defines that when two or more persons bound for a purpose legally.
Contract = Agreement + enforceble
Here as per the given situation Andrea hired Jack as the sales representative for her portraits. She suspended the organisation with Jack though, in a month's time.
Harold, a client who had previously worked with Jack, was not informed of the closure. Harold contacted Jack to purchase a painting, and gave him a $5,000 check, the painting advance payment that Jack agreed would be shipped in two weeks.
As Jack later failed to reach Harold, Harold requested that Andrea uphold the deal, as Jack sold the picture as her agent
Andrea is liable to uphold his deal with Harold, as Jack had obvious authority.
Which profession do you prefer ro choose for your career?Engineer or Architect? Why?
Answer:
Architects
Explanation:
In my opinion,
Architects create new design concepts that push how modern day construction is executed.Architecture is one of the few professions that is never static.” Recently, architects have become more and more concerned with environmental and socially responsible building practices and materials.Which of the following is an owner of a fee simple absolute NOT able to do...? Lease the property to another Pledge the property as security of a debt Build beyond the property line of the land Grant an easement
Answer:
Correct Answer:
4. Build beyond the property line of the land
Explanation:
Fee simple absolute is an estate in land, which is a form of freehold ownership. It is a way that real estate and land may be owned in common-law countries. And, also is the highest possible ownership interest that can be held in real property.
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the following transactions except: Multiple Choice purchase foreign currency in order to import a BMW. sell foreign currency resulting from the exports of manufactured t-shirts. sell foreign currency resulting from the sale of a U.S. treasury bond. purchase foreign currency in order to purchase a U.S. treasury bond.
Answer: purchase foreign currency in order to purchase a U.S. treasury bond.
Explanation:
Currency convertibility has to do with the degree in which the domestic currency of a particular country can be converted into the currency of another country.
Therefore, a citizen in a developing country with a currency policy of convertibility on the current account could engage in the purchase foreign currency in order to purchase a U.S. treasury bond.
What’s a good starter?
Which of the following statements is FALSE? A. Investments with higher volatility have rewarded investors with higher average returns. B. Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios and the returns of individual securities. C. Riskier investments must offer investors higher average returns to compensate them for the extra risk they are taking on. D. Investments with higher volatility should have a higher risk premium and, therefore, higher returns.
Answer: B. Volatility seems to be a reasonable measure of risk when evaluating returns on large portfolios and the returns of individual securities.
Explanation: Over time, investment with high degree of volatility, which refers to the rapid unpredictability associated with the price or value of an investment seems to have ditched out higher returns and risk premium on those investment to investors in other to reward them for making such unpredictable investment. This said, the risk associated with an investment plays a huge factor in determining the average return issued to investors as higher risk investment attracts higher returns. However, when evaluating large portfolios and return of individual securities, volatility such not be used as a reasonable determinant of the risk associated with such investment as the large portfolios and individual securities are usually prone to unpredictability which should not be translated to the probability that such investment will result in loss of capital.
Kickstarter is known as a(n) ___ website because it allows the general public to provide financial support to organizations and individuals that are working on a new product.
Answer: crowdfunding
Explanation:
Crowdfunding is when a project is being funded by collecting little amounts of money from the people, usually through Internet.
Kickstarter is known as a crowdfunding website because it allows the general public to provide financial support to organizations and individuals that are working on a new product.
All the following statements concerning universal life insurance are correct EXCEPT: Group of answer choices Interest credited to the cash value is taxable to a policyowner in the year credited. The policyowner can add to a policy's cash value at any time subject to policy guidelines. Interest is credited to the policy's cash value each month. Withdrawals from a policy's cash value reduce the death benefit.
Answer:
Withdrawals from a policy's cash value reduce the death benefit.
Explanation:
Universal life insurance is a permanent life insurance plan that has flexible premium payments and premiums are also low.
Only a determined death benefit is paid to the policy holder's beneficiary.
As premium is paid to the account, it earns interest. The excess amount above the death benefit is called the cash value.
Policy holder is allowed to withdraw the cash value and the withdrawal is subject to taxation.
However these withdrawals do not affect the death benefit which is fixed. Policy holder cannot withdraw into the death benefit amount.
When the policy holder does the insurance company keeps the cash value (excess over dear benefit amount). While the beneficiary gets only the agreed death benefit.
So the statement - Withdrawals from a policy's cash value reduce the death benefit.
Is untrue.
The real exchange rate measures the: Group of answer choices number of foreign goods one unit of domestic currency can buy amount of foreign currency one can get for one unit of domestic currency value of foreign currency denominated in domestic prices relationship between foreign and domestic interest rate number of foreign goods required to purchase a single unit of a domestic good
Answer:
number of foreign goods required to purchase a single unit of a domestic good
Explanation:
The real exchange rate is the rate which says that the rate at which the goods and services that are produced in the domestic country would be exchanged with the foreign goods and services
It could find out by applying the following formula
The Real exchange rate is
= Nominal exchange rate × (Foreign price ÷ Domestic price)
Hene, the last option is correct
Samantha is a single mother raising two young children. In 2015, she was let go from her assembly line job at the car plant where she had worked for 15 years. She has a 15 hr a week job which pays $12,000.00 a year. She qualifies for and receives the earned income tax credit. What will happen to her earned income credit if Samantha gets in increase in her pay and earns $17,350 now
Answer:
Her EITC will not be decreased.
Assume that three identical units are purchased separately on the following three dates and at the respective costs:________. June 1 at $10 June 2 at $15 July 4 at $20 The company sells two units during the period. Conclude which inventory items are sold first and which unit remains in ending inventory if the company is using the LIFO perpetual cost flow assumption.
Answer:
Under last in, first out (LIFO) inventory method, the units purchased last are used to determine the cost of goods sold. This doesn't mean that exactly the last units purchased will be sold first, it is just used as an accounting tool.
In this case, the last unit purchased costed $20, and the immediately previous one costed $15. Under LIFO, these 2 units would have been sold (COGS = $35), and the ending inventory = $10 (the price of the "oldest" unit).
Quanti Co., a calendar year taxpayer, purchased small tools for $5,000 on December 21, 2016, representing the company's only purchase of tangible personal property that took place during 2016. On its 2016 tax return, how many months of MACRS depreciation may Quanti Co. claim on the tools (assuming they do not qualify for immediate expensing/bonus depreciation)?
Answer:
1 and a half months worth of depreciation
Explanation:
The advantage of starting to depreciate an asset purchased on December is that next year you will be able to depreciate it for a full year under MACRS. Generally, when you purchase an asset, you have to use the half year convention and your depreciation expense for the first year will be low compared to the second year. But if you start depreciating your asset in the current year, even if you purchased it on December and the depreciation expense is not that significant, the next year you will be able to depreciate it at the second year rate.
Harley-Davidson disciples share a common, deeply held attraction to the brand. Harley appeals include: freedom, independence, power, and authenticity. Harley-Davidson doesn't just sell motorcycles. It sells self-expression, lifestyles, aspirations, and dreams. This illustrates core customer values
Answer: Brand personality
Explanation:
Brand personality is what the customers can easily relate to about a particular brand. To develop and maintain a strong brand, having a brand personality is vital.
From the question, we are informed that Harley appeals include freedom, independence, power, and authenticity and that Harley-Davidson doesn't just sell motorcycles, it sells self-expression, lifestyles, aspirations, and dreams. This illustrates brand personality.
True, its illustrated Core Customer Value.
Core customer values refers to the perception of what a product or service of a company is worth to a customer against the effort of buying such product.
These values are what attracts customers to a product or a firm.Question sometime asked by customer that what do i gain from this product despite being costlier? The Core values the customer got from the product or firm keeps the attraction.In conclusion, the values are displayed effectively by product or firms in other to persuade new customer as well as to attract existing customers.
Learn more about Core customer values here
brainly.com/question/15073502
ABC International sells a machine for $35,000 in cash on December 31, 2019. Initially this asset was purchased on 01 January 2013 for $100,000 with the estimated useful life of 10 years. Please prepare the journal entry and supporting calculations for this asset sale transaction.
Answer:
$1000023033500
Explanation:
100000*35000
Sunland Inc. took a physical inventory at the end of the year and determined that $789000 of goods were on hand. In addition, Sunland, Inc. determined that $61500 of goods that were in transit that were shipped f.o.b. shipping point were actually received two days after the inventory count and that the company had $87500 of goods out on consignment. What amount should Sunland report as inventory at the end of the year
During the late 1970s, prices quoted in terms of the Israeli currency, the shekel, rose so fast that grocery stores listed their prices in terms of the U.S. dollar and provided customers with dollar-shekel conversion tables that they updated daily. Although people continued to buy goods and services and make loans using shekels many Israeli citizens converted shekels to dollars to avoid a reduction in their wealth due to inflation. Thus, the U.S. dollar functioned as money in Israel during this period.
A. as a standard of deferred payment.
B. as a credit card.
C. as a medium of exchange.
D. as a unit of accounting.
Answer:
D. As a unit of accounting
Explanation:
The U.S. dollar functioned as money in Israel during this period as a unit of accounting.
Money can be defined as anything that is generally acceptable as a medium of exchange or form of payment
There are different functions of money which includes:
1. Medium of exchange
2. Store of value
3. Units of accounting
1. Medium of exchange. Money functions as a medium of exchange between buyers and sellers. Exchange of goods and services is made easy with the use of money.
2. Store of value: Money functions as a store of value. That is, money should remain valuable when stored for a period of time.
3. Unit of account: Money also functions as a unit of account, that is, providing a common measure of the value of goods and services being exchanged.
Which of the following actions would cause the aggregate demand curve to shift to the left? A. an increase in government spending caused by increased spending on highways and bridge construction B. a decrease net export spending caused by an appreciation of the home currency C. an increase in exports caused by an increase in economic activity in the European Union D. an increase in consumer spending caused by a cut in the personal income tax rate
Answer:
B. a decrease net export spending caused by an appreciation of the home currency
Explanation:
When the aggregate demand curve shifts to the left, it means that total consumer spending decreases. This decrease might result from consumers having less money due to a rise in unemployment, high inflation, a decrease in economic activity or an increase in taxes. This type of shift is specially "dangerous" for the economy because consumer spending represents almost 70% of the GDP.
In this case, the appreciation of the US dollar resulted in a decrease in economic activity of exporting companies.
At his current level of output, a monopolist has an MR of $10, an MC of $6, and an economic profit of zero. If the market demand curve is downward sloping and his marginal cost curve upward sloping, the monopolist:_______
Answer:
The monopolist is in the long run.
Explanation:
The monopolist is in the long run because, in the long run, a monopolist earns or gets zero economic profit. In the short run, it earns supernormal profit that attracts the new firms into the market and this entry continues until the economic profit becomes zero and in the long run, its price is equal to the average total cost. Moreover, the average total cost curve becomes tangent to the demand curve in the long run.
In increasingly fast-paced markets, price and technology are not enough. ________ is the factor that will often give a company its competitive edge and is defined as the totality of features that affect how a product looks, feels, and functions in terms of customer requirements
Answer:
Design
Explanation:
Product design involves development of of ideas that will lead to new or different areas products.
Design of a product gives it a unique looks, feels, and functions in terms of customer requirements.
This provides a competitive advantage to the seller by differentiating this product from others in the market.
For example customers that purchase Sony televisions enjoy a unique quality that is associated with Sony televisions. They prefer to buy this product because of these unique traits