Answer:
Cardholder
Explanation:
The Government Purchase Card program/mission was setup in order to streamline payment process and help alleviate the administrative burden that lies in purchasing goods and services. It is a system which provides on the spot purchasing, receiving and payment authority for individuals.
In GPC, the cardholder is responsible for verifying card information and verifying proof of delivery.
The cardholder himself or herself is responsible in verifying the proof of delivery for all government-wide commercial purchase card, is the correct statement for the query above.
This project was launched by the Federal Government in the United States of America to make a uniform process and to ensure that all the transactions carried are included in the government database.
Under this program, the cardholder was given the ability to perform the transactions of buying and selling with such card whether online or at point of sales merchants.The scheme was introduced by the federal government in the United States of America with an intention to make a systematic program for archiving the user purchase and sales history.The proof of delivery was to be verified by the cardholder himself by the way of uploading the information on the government portal made for such purpose.Hence, the cardholder was himself for the delivery of all government wide commercial purchase card scheme.
To know more about Government purchase card, click the link below.
https://brainly.com/question/1968351
The Marchetti Soup Company entered into the following transactions during the month of June:
(1) purchased inventory on account for $195,000 (assume Marchetti uses a perpetual inventory system);
(2) paid $50,000 in salaries to employees for work performed during the month;
(3) sold merchandise that cost $140,000 to credit customers for $250,000;
(4) collected $230,000 in cash from credit customers; and
(5) paid suppliers of inventory $175,000.
Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero except for cash, accounts receivable, and accounts payable that had opening balances of $70,000, $53,000, and $32,000, respectively.
Answer:
Cash account
debit credit
opening 70,000
2) 50,000
4) 230,000
5) 175,000
75,000
Accounts receivable account
debit credit
opening 53,000
3) 250,000
4) 230,000
73,000
Accounts payable account
debit credit
opening 32,000
1) 195,000
5) 175,000
52,000
Merchandise inventory account
debit credit
1) 195,000
3) 140,000
55,000
Wages expense account
debit credit
2) 50,000
Sales revenue account
debit credit
3) 250,000
COGS account
debit credit
3) 140,000
You purchased a bond on January 1, 2017 for $839.67. The bond has a $1000 face value, an 8% annual coupon, and can be sold for $842.33 on December 31, 2017. What is your total dollar return for the year?
Answer:
$82.66
Explanation:
you purchased a bond for $839.67
coupon = $1,000 x 8% = $80
you sell the bond at the end of the year for $842.33
total dollar return on your investment = coupon + (selling price - purchase price) = $80 + ($842.33 - $839.67) = $82.66
total return in % on your investment = $82.66 / $839.67 = 9.84%
The appropriate section in the statement of cash flows for reporting the purchase of equipment for cash is:_______.
A) Operating activities.
B) Financing activities.
C) Schedule of non-cash investing or financing activity.
D) This is not reported on the statement of cash flows.
Answer: Investing activities
Explanation:
The appropriate section in the statement of cash flows for reporting the purchase of equipment for cash is referred to as the investing activities.
The operating activities has to do with the reporting of cash payment for wages. The financing activities has to do with reporting issuance cash for the common stock.
Organizations are increasingly using teams for many reasons. The difference between a good team and an outstanding team has been found to be
Answer:
the way team members treat each other
Explanation:
The main difference between such teams is the way team members treat each other. This is because the most outstanding teams treat each other as friends, this allows each member to want to motivate one another towards their best self. Overall this provides increased work efficiency and innovative results from these teams as opposed to groups that treat each other only as professional colleagues and want to overshadow one another in order to further their own careers.
Care Clinic is preparing a worksheet for their staff. Their average starting salary is $60,000. Benefits are 25% this year. They expect them to go up to 27% next year. They are expecting to give a raise of 5% next year. Care Clinic has 20 employees. Prepare a formatted Excel Spreadsheet for Care Clinic. How much is the Total Staff Expense
Answer:
$1,600,200
Explanation:
The total staff expense can be calculated by using the following formula:
Total Staff Expense = (Salary For coming year with increment (STEP1) + Benefits In-Kind) * Total Employees
Here
Salary for Coming Year with Increment is $63,000 (Step1)
Total employees are 20 in Number
Benefits In-Kind per employee is 27% of salary which is $17,010 ($63,000 * 27%)
By putting values, we have:
Total Staff Expense = ($63,000 + $17,010) * 20 Employees
Total Staff Expense = $1,600,200
STEP 1: Find Salary for Coming Year with Increment
Salary for Coming Year with Increment = Average Salary Now * (1 + Increment)
Here
Average Salary is $60,000
Increment is 5%
Salary for Coming Year with Increment = $60,000 *(1 + 5%) = $63,000
EXCEL Formatted Spreadsheet For Care Clinic
Increment Avg. BIK T. Employees Total
5% Salary at 27%
Total Salary 60000 105% 63000 - 20 1,260,000
Benefits In-Kind 60000 105% 63000 27% 20 340200
1,600,200
Which of the following types of communication is most likely to be used by employees to provide feedback to higher-ups, inform them of progress toward goals, and relay current problems?
A) lateral communication
B) upward communication
C) downward communication
D) horizontal communication
E) grapevine communication
Answer:
B) upward communication
Explanation:
Upward communication takes place when employees inform or communicate something to their supervisors or managers. This type of communication can be carried out by entry level employees informing their supervisors or low level managers about something, but also takes place when middle managers inform upper management.
Santa Fe Company purchased merchandise for resale from Mesa Company with an invoice price of $27,100 and credit terms of 3/10, n/60 the merchandise had cost Mesa $16,000. Santa Fe paid within the discount period. Assume that both buyer and seller use a perpetual inventory system.Required:a. Prepare entries that the buyer should record for (a) the purchase and (b) the cash paymentb. Prepare entries that the seller should record for (a) the sale and (b) the cash collectionc. Assume that the buyer borrowed enough cash to pay the balance on the last day of the discount period at an annual interest rate of 8% and paid it back on the last day of the credit period. Compute how much the buyer saved by following this strategy. (Assume a 365-day year and round dollar amounts to the nearest cent, including computation of interest per day.)
Answer:
a. Prepare entries that the buyer should record for (a) the purchase and (b) the cash payment
a) date, month, year, merchandise purchased on account from Mesa Company, credit terms 3/10, n/60
Dr Merchandise inventory 27,100
Cr Accounts payable 27,100
b) 10 days later, invoice paid within discount period to Mesa Company
Dr Accounts payable 27,100
Cr Cash 26,287
Cr Purchase discounts 813
b. Prepare entries that the seller should record for (a) the sale and (b) the cash collection
a) date, month, year, merchandise sold on account to Santa Fe Company, credit terms 3/10, n/60
Dr Accounts receivable 27,100
Cr Sales revenue 27,100
Dr Cost of goods sold 16,000
Cr Merchandise inventory 16,000
b) 10 days later, invoice collected from Santa Fe Company
Dr Cash 26,287
Dr Sales discount 813
Cr Accounts receivable 27,100
c. Compute how much the buyer saved by following this strategy.
interest expense = $27,100 x 8% x 50/365 days = $296.99
purchase discount = $813
money saved through borrowing = $813 - $296.99 = $516.01
6. If the price elasticity of supply is 1.2, and a price increase led to a 5% increase in quantity supplied, then the price increase is about
Answer:
Price increase is about 4.2%
Explanation:
Price Elasticity of Supply (PES) is a measure of the responsiveness of the quantity of a particular good/service supplied to a change in price.
The price elasticity of supply is mathematically the ratio of the percentage change in quantity supplied to the percentage change in price.
[tex]PES = \frac{\%\ change\ in\ quantity}{\%\ change\ in\ price} \\where\\PES= 1.2\\\% change\ in\ quantity = 5\%\\\%\ change\ in\ price = ???\\\therefore 1.2 = \frac{5}{\%\ change\ in\ price}\\ \%\ change\ in\ price = \frac{5}{1.2} \\\%\ change\ in\ price = 4.16\%[/tex]
Which of the following people would likely become intoxicated more quickly?
A person who is very tired or physically exhausted
A person who is overweight
A tall person
A middle aged man
Answer:
A person who is very tired or physically exhausted
Explanation:
Being tired is like being drunk as study have proven that. The other option are human in their full consciousness. If a tired or physically exhausted drinks, he will be the first to get more intoxicated than the other options
The following people would likely become intoxicated more quickly is when
A person who is very tired or physically exhausted
The following information should be considered:
Being tired is like being drunk as study have proven that. The other option are human in their full consciousness. If a tired or physically exhausted drinks, he will be the first to get more intoxicated than the other optionsLearn more: brainly.com/question/16911495
The two types of reports that DMARC reporting provides are aggregate reports and_________reports.
Answer:
Forensic Report
Explanation:
The two types of reports that DMARC reporting provides are aggregate reports and Forensic reports.
DMARC (Domain-Based Message Authentication Reporting and Conformance) is set up to help validate emails being sent and received.
Forensic report send emails following ruf tag. It securea information that secures organization's domain. It adds additional information such as subject line and information about attachment.
The Aggregate Report offers great insight into email authentication. It is an XML feedback designed in order to give email visibility.
Which of the following policies should a country implement in an economic downturn to avoid a Paradox of Thrift?
a) Implement policies to encourage saving.
b) Implement policies to encourage greater consumption.
c) Raise taxes to ensure the government stays funded.
d) Reduce overall government spending.
Answer:
B) Implement policies to encourage greater consumption.
Explanation:
The Paradox of thrift says that an increase in autonomous saving leads to a decrease in aggregate demand and thus a decrease in gross output which will, in turn, lower total saving due to that total saving may fall because of individuals' attempts to increase their saving, Therefore, to avoid the paradox of thrift policies to encourage consumption must be implemented.
Tying sales is a market practice designed to increase sales volume. A "tying sales" situation is said to occur when what happens
Answer: customer is required to buy one product only if the customer also buys a second product
Explanation:
Tying sales is a market practice designed to increase sales volume. A "tying sales" situation is said to occur when a customer is required to buy one product only if the customer also buys a second product.
Tying sales is simply defined as a scenario whereby the purchase of a good or service is compulsory when one buys a different good or service. This meane the individual helps us buying two products.
"In a market characterized by monopolistic competition, how will new firms choose to engage this market
Answer:
New firms entering into a market characterized by monopolistic competition must differentiate their products from the competition by establishing their own brands.
Explanation:
There are four main characteristics of a monopolistic competitive market. They are large numbers of buyers and sellers; perfect information; low entry and exit barriers; and similar but differentiated goods. Monopolistic competition is a market structure where the firms offer similar but branded products which differentiate one firm's product from the other. This implies that there is competition but because of the presence of brands, firms cannot compete directly with one another.
Which of the following best explains why a board of directors may grant stock options as part of a compensation package?
A) To reduce the transferability of stocks between stockholders
B) To bring about a separation of CEO/chair duality
C) To align incentives between shareholders and management
D) To change the liability of shareholders from limited to unlimited
Answer:
C) To align incentives between shareholders and management
Explanation:
Stock options are usually offered to managers and board members to reduce agency conflicts and align the goals of the mangers with that of the shareholders.
By granting stock options to board directors, it would be in the best interest of the directors to see the value of their stocks increase. So, they would take decisions that would enhance the appreciation of stocks.
You find a certain stock that had returns of 16 percent, −9 percent, 23 percent, and 24 percent for four of the last five years. The average return of the stock over this period was 14.4 percent. a. What was the stock’s return for the missing year? (Do not round intermediate calculations and enter your answer as a percent rounded to 1 decimal place, e.g., 32.1.) b. What is the standard deviation of the stock’s returns? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
a. 18%
b. 13.50%
Explanation:
The computation of the stock return for the missing year is shown below:
a. Let the fifth year stock return be x
Average rate of return = Total returns ÷ number of years
0.14.4 = (0.16 - 0.09 + 0.23 + 0.24 + x) ÷ 5
So after solving this, the x is 18%
b. Now the standard deviation of the stock return is shown in the excel spreadsheet
The standard deviation is 13.50%
Due to massive customer heterogeneity, Professor Fader would say there’s more opportunity to "move the needle" via ___________ than ___________.
Answer:
acquisition ; development
Explanation:
Heterogeneity refers to the state where the character if different of each and every product.
These days the consumer or the customers have heterogeneity and with basic product development each time you cannot full fill the need of every customer.
For that you need to provide complete other product sometime. Therefore, as per Professor Fader one should seek more opportunity through acquisition, that does not mean that you should stop development. Development is also needed, and shall not be stopped. That is always the icing on the cake.
Sankey Co. has earnings per share of $3.95. The benchmark PE is 18.8 times. What stock price would you consider appropriate
Answer:
Stock price = $74.26
Explanation:
The value of a share can be determined using the price earning ratio model. According to this model, the price of a share is estimated as the EPS of the company multiplied by a representative (benchmark) price- earning (P/E) ratio .
The ratio relates the price of a stock to its earning. A stock with a higher P/R indicates a high potent for growth.
Price of stock =Earnings per share( EPS) × benchmark P/E ratio
The appropriate comparative price earnings ratio in the question has been given as 18.8 times.
DATA-
EPS- 3.95
PE- 18.8
Stock price = 3.95 × 18.8= $74.26
Stock price = $74.26
The balance sheet of Heitman Management Consulting, Inc. at December 31, 2015, reported the following stockholders' equity:
During 2016, Heitman completed the following selectedtransactions:
Stockholders' Equity
Paid-In Capital:
Common Stock—$12 Par Value; 250,000 shares
authorized, 30,000 shares issued and outstanding
$360,000
Paid-In Capital in Excess of Par—Common
380,000
Total Paid-In Capital
740,000
Retained Earnings
159,000
Total Stockholders' Equity
$899,000
Feb.
6
Declared a 5% stock dividend on common stock. The market value of Heitman's stock was $21 per share.
15
Distributed the stock dividend.
Jul.
29
Purchased 2,000 shares of treasury stock at $21per share.
Nov.
27
Declared a $0.20 per share cash dividend on the common stock outstanding.
Requirements
1. Record the transactions in the general journal.
2. Prepare a retained earnings statement for the year ended December 31, 2016. Assume Heitman's net income for the year was $85,000.
3. Prepare thestockholders' equity section of the balance sheet at December31, 2016.
Answer:
Heitman Management Consulting, Inc.
1. General Journal
Feb. 6:
Debit Stock Dividend $18,000
Credit Stock Dividend Payable $18,000
To record the declaration of 5% stock dividend on 30,000 shares.
Feb. 15:
Debit Stock Dividend Payable $18,000
Credit Common Stock $18,000
To record the distribution of 1,500 shares of common stock dividend.
Jul. 29:
Debit Treasury Stock $24,000
Debit Paid-In Capital in Excess of Par—Common $18,000
Credit Cash Account $42,000
To record the purchase of 2,000 shares of treasury stock at $21 per share.
Nov. 27:
Debit Dividend $5,900
Credit Dividends Payable $5,900
To record the declaration of $0.20 per share cash dividend on 29,500 shares.
2. Retained Earnings Statement for the year ended December 31, 2016:
December 31, 2015 balance $159,000
Net Income for the year $85,000
Dividends: Stock (18,000)
Dividends: Cash (5,900)
December 31, 2016 balance $220,100
3. Stockholders' equity section of the balance sheet at December31, 2016:
Stockholders' Equity:
Paid-In Capital:
Common Stock—$12 Par Value:
250,000 shares authorized,
31,500 shares issued and outstanding $378,000
Paid-In Capital in Excess of Par—Common 362,000
2,000 shares of Treasury Stock (24,000)
Total Paid-In Capital 716,000
Retained Earnings 220,100
Total Stockholders' Equity $936,100
Explanation:
a) Data and Calculations:
Balance sheet of Heitman Management Consulting, Inc. at December 31, 2015
Stockholders' Equity:
Paid-In Capital:
Common Stock—$12 Par Value:
250,000 shares authorized,
30,000 shares issued and outstanding $360,000
Paid-In Capital in Excess of Par—Common 380,000
Total Paid-In Capital 740,000
Retained Earnings 159,000
Total Stockholders' Equity $899,000
Heitman's net income for the year = $85,000
b) Issued and Outstanding Common Stock Shares:
December 31, 2015 = 30,000 $360,000
Stock Dividend 1,500 $18,000
December 31, 2016 31,500 $378,000
c) Treasury Stock 2,000 $24,000
Outstanding shares 29,500
d) Paid-in In Excess of Capital:
December 31, 2015 $380,000
Treasury Stock (18,000)
December 31, 2016 $362,000
A company borrowed from the bank by signing a longterm note. How does this transaction affect the accounting equation?
Answer:
Balanced
Explanation:
Accounting equation: Assets = Liabilities + Equity
If a company borrows a loan note from the bank this will alternatively increase the assets because the cash received from the bank and liabilities portion will also increase at the opposite side with the same amount the asset is increased therefore the accounting equation will be balanced.
Bilbo Baggins wants to save money to meet three objectives. First, he would like to be able to retire 30 years from now with retirement income of $26,000 per month for 20 years, with the first payment received 30 years and 1 month from now. Second, he would like to purchase a cabin in Rivendell in 15 years at an estimated cost of $675,000. Third, after he passes on at the end of the 20 years of withdrawals, he would like to leave an inheritance of $850,000 to his nephew Frodo. He can afford to save $2,300 per month for the next 15 years. If he can earn a 9 percent EAR before he retires and a 8 percent EAR after he retires, how much will he have to save each month in Years 16 through 30?
Answer:
$6,573.08
Explanation:
first we need to determine the present value (in 20 years) of Bilbo's retirement distributions:
present value = monthly distribution x annuity factor (PV, 0.6667%, 240 periods) = $26,000 x 119.51872 = $3,107,486.72
now we need to find the present value (in 20 years) of Frodo's inheritance:
present value = $850,000 / (1 + 8%)²⁰ = $182,365.98
this means that in 20 years, Bilbo must have saved $3,107,486.72 + $182,365.98 = $3,289,852.70
but that is not all, he also needs $675,000 in 15 years:
in 15 years, Bilbo's savings account will have monthly contribution x annuity factor (FV, 0.75%, 180 periods) = $2,300 x 378.40577 = $870,333.27
that means that Bilbo will have $870,333.27 - $675,000 = $220,333.27
in 15 more years, the $220,333.27 will be worth: $220,333.27 x (1 + 9%)¹⁵ = $802,560.07
so Bilbo is $3,289,852.70 - $802,560.07 = $2,487,292.63 short
his monthly contribution to his savings plan should be:
$2,487,292.63 = monthly payment x annuity factor (FV, 0.75%, 180)
$2,487,292.63 = monthly payment x 378.40577
monthly payment = $2,487,292.63 / 378.40577 = $6,573.08
According to the Coase Theorem, in the absence of bargaining costs, A. property rights are key to determining the final outcome of a dispute. B. regardless of the initial assignment of property rights, the parties will successfully bargain to the efficient outcome. C. whichever party has the larger initial assignment of property rights will control the outcome of a dispute. D. whichever party has more money will determine the outcome of a dispute.
Answer:
B. regardless of the initial assignment of property rights, the parties will successfully bargain to the efficient outcome.
Explanation:
This theorem is easier to explain using an example: you have a neighbor that likes playing drums during your nap time. Since playing drums is not illegal, there is very little that you can do to force your neighbor to stop making noise. You value your nap time at $50, and you neighbor values his drumming time at $35 since he could also purchase a Playstation game and play during that time. According to the Coarse Theorem, the optimal solution would be to give your neighbor $35 so he can play Playstation games, since you would gain $50 - $35 = $15.
Which of the following is a drawback of the corporate structure?
Answer:
C double tax on business earning
Explanation:
The Securities Act of 1933 does not apply to the issuance of securities under $5 million. Question 4 options: True False
Answer:
False
Explanation:
The Securities Act of 1933 requires the registration of all the securities issued and sold ob public markets. This act had some exemptions:
private offerings (if the securities were offered to a certain group of persons and/or institutions)offerings of a limited size: a very small issuance would be excluded, but remember that $5 million of 1933 are equivalent to more than $98 million today (average annual inflation of 3.48%)securities issued by government entitiessecurities issued on intrastate offerings (only traded within a given state)Which of the following is not a recognised type of plan?
a) Business
b) Succession
c) Ad hoc
d) Financial
Answer:
Ad hoc
Explanation:
Ad hoc is not a recognized type of plan. The following are plans that are 100% recognizable:
Business plan, Succession plan and Financial plan.
Ad hoc is a Latin word which means "for this" or "for this situation". In English, it is used to explain what has been formed for a special purpose without planning.
Mufala, Inc., will issue $10,000,000 of 6% 10-year bonds. The market rate for bonds with similar risk and maturity is 8%. Interest will be paid by Mufala semiannually. What is the issue price of the bonds
Answer:
the issue price of the bond is $8,640,999
Explanation:
The computation of the issue price of the bond is shown below:
Particulars Amount PV factor Present value
Semi-annual Interest $300,000 13.59033 $4,077,099
Principal $10,000,000 0.45639 $4,563,900
Issue price of the bonds $8,640,999
Therefore the issue price of the bond is $8,640,999
Companies that manufacture products with a very ______ product life cycle have ______ as their core competency.
Answer:
short, innovation
Explanation:
Manufacturing of short product cycle have the innovation requires for competency compare to those companies that manufacture on long product cycle.
It should be noted that Companies that manufacture products with a very short product life cycle have innovation as their core competency.
If a good is subject to a binding price floor and someone purchases it on the black market, what would he or she expect to happen to the price over time
Answer:
The surplus of the goods will rise, meaning that the availability of the such good will increase over time as both the supply and demand curves become more elastic.
Explanation:
Due to the presence of the black market, people are going to buy it from the black market at a lower cost, thus the availability will rise and the total surplus will rise due to market equilibrium.
Every year, management and labor renegotiate a new employment contract by sending their proposals to an arbitrator, who chooses the best proposal (effectively giving one side or the other $5 million). Each side can choose to hire, or not hire, an expensive labor lawyer (at a cost of $200,000) who is effective at preparing the proposal in the best light. If neither hires a lawyer or if both hire lawyers, each side can expect to win about half the time. If only one side hires a lawyer, it can expect to win nine tenths, or 0.9, of the time.
1. Diagram this simultaneous move game.
2. What is the Nash Equilibrium of the game?
3. Would the sides want to ban lawyers?
Answer:
1. Please find it attached.
If both of them don't get lawyers they will each make half of the $5 million being $2.5 million a piece.
If one side hires a lawyer and the other doesn't, the side with the lawyer will win 0.9 of $5 million which is $4,500,000. However they would have paid the lawyer $200,000 so that payout drops to $4,500,000. The other would make 0.1 which is $500,000.
If they both get a lawyer they will each get half which is $2,500,000 but they would both have paid their lawyers $200,000 a piece so the net payout would be $2,300,000.
2. The Nash Equilibrium is the alternative that it would not serve either party to deviate from as it serves them both well. The Nash Equilibriums would be If both don't get a lawyer or if both get a lawyer.
3. Yes they would because without lawyers they would make more money as they would not have to pay the $200,000 in fees.
If neither team hires a lawyer, they have a 50% probability of winning, hence the projected pay out is $1 million divided by two equals $500,000.
Computation Table;
Management
No-lawyer Lawyer
Labor No-lawyer 500,000;500,000 250,000;550,000
Lawyer 550,000;250,000 300,000;300,000
If they both employ a lawyer, their odds of winning are still 50%, but they'll have to pay money of $200,000, therefore the projected compensation will be $500,000 - $200,000 = $300,000.
Answer 2:If both employ a lawyer or neither hires a lawyer, there is a Rational Function.
Answer 3:Yes, both sides would prohibit the use of a lawyer because no lawyer results in more earnings.
Learn more:https://brainly.com/question/13026299?referrer=searchResults
General Motors increases the price of a model car produced exclusively for export to Europe. Which U.S. price index is affected?
Answer: The GDP deflator
Explanation: The GDP(gross domestic product) deflator is a price index that is used to measure the prices of all the goods and services produced within an economy. The cars which are exported by General Motors are produced domestically within the United States of America and exported outside the country.
Any goods produced externally are not considered when determining the GDP deflator.
A company has total revenue of $195,000 and total assets on its balance sheet of $2,015,000. What is the return on assets for this company?
Answer:
9.67%
Explanation:
A company has a total revenue of $195,000
The total assets is $2,015,000
Therefore the return on assets for the company can be calculated as follows
= 195,000/2,015,000
= 0.0967×100
= 9.67%
Hence the return on assets is 9.67%