BUSINESS COLLEGE

Last year the imaginary nation of Freedonia had a population of 2,700 and real GDP of 16,200,000. This year it had a population of 2,500 and real GDP of 14,640,000. What was the growth rate of real GDP per person between last year and this year?

Answers

Answer 1
Answer:

Answer:

-2.4%

Explanation:

The GDP per person of the nation of Freedonia for the current and last year, respectively, are:

GDP_C = (14,640,000)/(2,500)=5,856\nGDP_L = (16,200,000)/(2,700)=6,000

The growth rate (R) between this year and last year is given by:

R=(GDP_C-GDP_L)/(GDP_L)\nR=(5,856-6,000)/(6,000)\nR=-0.024 = -2.4\%

The growth rate of real GDP per person was -2.4%.

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On January 1 st, you make plans to travel to Switzerland the following summer. The direct quote for Swiss francs is $0.30.Since it will be a short trip, you believe $3000 in spending money will be sufficient. On June 1 st, the direct quote for Swiss francs is $0.40.As a result, How much Swiss francs will buy your $3000.
Seasons Construction is constructing an office building under contract for Cannon Company and uses the percentage-of-completion method. The contract calls for progress billings and payments of $1,550,000 each quarter. The total contract price is $18,600,000 and Seasons estimates total costs of $17,750,000. Seasons estimates that the building will take 3 years to complete, and commences construction on January 2, 2018. 18). Seasons Construction completes the remaining 25% of the building construction on December 31, 2020, as scheduled. At that time the total costs of construction are $18,750,000.What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Seasons will recognize for the year ended December 31, 2020?Revenue Expenses(A) $18,600,000 $18,750,000(B) $4,650,000 $ 4,687,500(C) $4,650,000 $ 5,250,000(D) $4,687,500 $ 4,687,500
The transactions of Spade Company appear below. (a) Kacy Spade, owner, invested $100,750 cash in the company in exchange for common stock.(b) The company purchased office supplies for $1,250 cash.(c) The company purchased $10,050 of office equipment on credit.(d) The company received $15,500 cash as fees for services provided to a customer.(e) The company paid $10,050 cash to settle the payable for the office equipment purchased in transaction (f) The company billed a customer $2,700 as fees for services provided.(g) The company paid $1,225 cash for the monthly rent.(h) The company collected $1,125 cash as partial payment for the account receivable created in transaction (i) The company paid $10,000 cash in dividends to the owner (sole shareholder). Check Cash ending balance, $94,850 Prepare the Trial Balance

Brief Exercise 198 The Entertainment Center accumulates the following cost and net realizable value (NRV) data at December 31. Inventory Categories Cost Data Market Data
Camera $11,200 $10,000
Camcorders 7,700 8,800
DVDs 13,900 12,700

Compute the lower-of-cost-or-net realizable value for company's inventory.

Answers

Answer:

$30,400

Explanation:

The computation of the lower-of-cost-or-net realizable value is shown below:-

Inventory    Cost            Net realizable value     Lower cost

Camera       $11,200        $10,000                        $10,000

Camcorders $7,700        $8,800                          $7,700  

DVDs            $13,900       $12,700                         $12,700

The Lower cost                                                      $30,400

Final answer:

To compute the lower-of-cost-or-net realizable value for the company's inventory, compare the cost of each inventory category to its net realizable value (NRV) and choose the lower value.

Explanation:

To compute the lower-of-cost-or-net realizable value for the company's inventory, you need to compare the cost of each inventory category to its net realizable value (NRV) and choose the lower value. In this case, the cost data and market data are given for each category.

  1. For the Camera inventory category, the cost is $11,200 and the NRV is $10,000. The lower value is $10,000.
  2. For the Camcorders inventory category, the cost is $7,700 and the NRV is $8,800. The lower value is $7,700.
  3. For the DVDs inventory category, the cost is $13,900 and the NRV is $12,700. The lower value is $12,700.

Therefore, the lower-of-cost-or-net realizable value for the company's inventory is $10,000 for the Camera category, $7,700 for the Camcorders category, and $12,700 for the DVDs category.

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When projecting future cash flows of an investment​ ________. A. the initial investment is a significant cash outflow that is treated separately from all other cash flows B. cash flows include depreciation C. cash inflows and outflows are treated​ separately, rather than being netted together D. cash flows are projected by accounting personnel without considering input from other departments

Answers

A. The initial investment is a significant cash outflow that is treated separately from all other cash flows

Melissa sold some of her Bitcoin in 2021 for a $200,000 long-term capital gain, bringing her total taxable income to $450,000. What is the tax on this capital gain if she files her return as Head of Household?

Answers

Melissa's capital gain tax from the sale of her Bitcoin in 2021 for a long-term capital gain of $200,000, and as Head of Household is $30,000.

Data and Calculations:

Long-term capital gain = $200,000

Total taxable income = $450,000

Assumed long-term capital tax rate = 15%

Thus, the tax on Melissa's capital gain tax from the sale of her Bitcoin in 2021 for a long-term capital gain of $200,000, and as Head of Household is $30,000 ($200,000 x 15%).

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Answer:

hi so im thinking its $250,000 dollors probaly

Explanation:

Whyte Clinic purchases land for $280,000 cash. The clinic assumes $3,000 in property taxes due on the land. The title and attorney fees totaled $2,000. The clinic had the land graded for $4,400. What amount does Whyte Clinic record as the cost for the land?a. $284,400.b. $280,000.c. $289,400.d. $285,000.

Answers

Answer:

c. $289,400

Explanation:

The computation of the cost of the land is shown below:

= Purchase cost of land + property taxes + attorney fees + land graded cost

= $280,000 + $3,000 + $2,000 + $4,400

= $289,400

We added the property taxes, attorney fees, and the land graded cost to the purchase cost of the land. Thus, all the expenses and charges should be considered for computing the cost of land

The following data apply to Hill's Hiking Equipment: Value of operations $20,000, Short-term investments $1,000, Debt $6,000, Number of shares 300; The company plans on distributing $50 million by repurchasing stock. What will the intrinsic per share stock price be immediately after the repurchase?

Answers

Answer:

$50

Explanation:

Solution

Recall that:

The company plans on giving out $50 million by repurchasing stock hence, number of stock to be purchased = 50/50 = 1 million

The Number of share bought back = 300-1 = 299

Thus

$20,000 + $1,000 - $6000 = $15,000

$15,000 / 300 shares = $50

                                    Before Repurchase  After the repurchase

Value of operations    20000                          20000

Short-term investments    1000                        950

Less : Debt                    6000                           6000

Intrinsic value of equity    15000                      14950

Number  of shares           300                           299

Intrinsic value per share    50                           50

Therefore the intrinsic per share stock price be immediately after the repurchase is $50

Nuzum Corporation has two divisions: Division M and Division N. Data from the most recent month appear below: Total Company Division M Division N Sales $557,000 $254,000 $303,000 Variable expenses 144,910 81,280 63,630 Contribution margin 412,090 172,720 239,370 Traceable fixed expenses 273,000 128,000 145,000 Segment margin 139,090 44,720 94,370 Common fixed expenses 94,690 43,180 51,510 Net operating income $ 44,400 $ 1,540 $ 42,860 Management has allocated common fixed expenses to the Divisions based on their sales. The break-even in sales dollars for Division N is closest to:

Answers

Answer:

$ 183,544.30 = $ 183,544

Explanation:

Nuzum Corporation

                                       Total             Division M         Division N          

Sales                              $557,000          $254,000      $303,000

Variable expenses          144,910             81,280             63,630

Contribution margin        412,090            172,720          239,370

Traceable fixed expenses 273,000        128,000          145,000

Segment margin                139,090          44,720            94,370

Common fixed expenses 94,690           43,180               51,510

Net operating income    $ 44,400          $ 1,540           $ 42,860

First we find the Segment CM ratio by the following formula:

Segment Contribution Margin Ratio= Segment Sales- Segment Variable Expenses/ Sales

Segment Contribution Margin Ratio= 303,000 -63630/303000

Segment Contribution Margin Ratio= 239370/303000=0.79

Then we find the break even sales in dollars.

Break Even Sales in Dollars= Traceable Fixed Expense/ Segment Contribution Margin Ratio

Break Even Sales in Dollars =145,000/0.79=  $ 183,544.303
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