Answer:
A corporation is found guilty of charging purchasers advanced fees for securing mortgage loans on homes they have listed. What is the punishment for the violation? A fine up to a maximum of $50,000.
National distributing company uses a periodic inventory system to track its merchandise inventory and the gross profit method to estimate ending inventory and cost of goods sold for interim periods. net purchases for the month of august were $43,000. the july 31 and august 31, 2021, financial statements contained the following information:
income statements for the months ending
august 31, 2021 july 31, 2021
net sales $60,000 $50,000
balance sheets at
august 31, 2021 july 31, 2021
assets:
merchandise inventory $35,000 $34,000
required:
determine the company's cost percentage.
The determination of the National Distributing Company's cost percentage under the gross profit method of estimating ending inventory and the cost of goods sold is 70%.
What is the gross profit method?Under the gross profit method, the cost of ending inventory and the cost of goods sold are estimated in each by following the following steps:
Add the cost of beginning inventory to the cost of purchases during the period to arrive at the cost of goods available for sale.Multiply (1 - expected gross profit percent, if given) by sales during the period to arrive at the estimated cost of goods sold.Otherwise, if you have the estimated cost of goods sold, you can use the figure to work out the gross profit percentage. Then work out the ending inventory by subtracting the cost of goods sold from the cost of goods available for sale.Data and Calculations:Net Purchases for August = $43,000
National Distributing Company
Income StatementsFor the months ending August 31, 2021, and July 31, 2021:
August July
Net sales $60,000 $50,000
National Distributing Company
Balance sheetsAt August 31, 2021 July 31, 2021
Assets: August July
Merchandise inventory $35,000 $34,000
Cost of goods available for sale for August:
Beginning inventory (July) $34,000
Purchases 43,000
Cost of goods available $77,000
Ending inventory (35,000)
Cost of goods sold $42,000
Company's cost of goods sold percentage = 70% ($42,000/$$60,000 x 100)
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What impact do policy interventions have on the supply and demand equilibrium for a product?.
Policy interventions can impact the supply and demand equilibrium for a product by leading to a disequilibrium between demand and supply.
What are impact of policy interventions?
Policy interventions are when the government give directives in order to bring about a desired effect. For example, the government can institute a bind price ceiling. This means that the goverment sets the maxium price for a good. This would lead for an excess of demand over supply.
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If stock prices go up and people feel richer, aggregate demand will: stay the same because there have been no changes to the underlying assets. Increase. Be unpredictable. Decrease
If stock prices go up and people feel richer, aggregate demand will increase.
What is the wealth effect?
The wealth effect is an economic theory which postulates that consumer spending increases when consumers perceive that their is an increase in the value of their assets(wealth). Consumer spending increases even if there is no increase in income.
So when the stock prices increases, aggregate demnand would increase.
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If stock prices go up and people feel richer, the aggregate demand will increase with the corresponding increase in the price level.
What do you mean by Price Level?Price Level refers to an average of current prices across the goods and services that are produced in the economy. Price levels refer to one of the most economic indicators in the world.
Aggregate demand will increase when the stock prices go up. Aggregate demand should increase when the components of the aggregate demand that including consumer spending, investment spending, government spending, and spending will rise.
Therefore, the aggregate demand will increase when the stock prices go up and people feel richer.
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According to Baumrind, which type of parents place firm limits and controls on their child, allows little verbal exchange, and might show rage toward their child
The type of parents place firm that place limits and controls on their child and allows little verbal exchange is authoritarian.
What is authoritarianism?Authoritarian serves a kind of control whereby the parents posses the total control over their child.
In this kind of parents place firm, there is always a way to check the activities of the children to avoid bad influence.
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Airlines that try to lower fares in order to increase revenue believe the demand for airline service is
Airlines that try to lower fares in order to increase revenue believe the demand for airline service is in price elasticity.
What is price elasticity?Price elasticity occur when a change in price of a commodity or services leads to a change in the quantity of goods or services demanded.
It is believed that when the price is lower more people will demand for the product.
Therefore, Airlines that try to lower fares in order to increase revenue believe the demand for airline service is in price elasticity.
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Airlines that try to lower fares to increase the revenue believe that the demand for the airline's service is price elastic.
What do you mean by demand?Demand refers to the quantity of a good that consumers can be able and willing to purchase at prices for a particular period.
Airlines try to lower the fares to increase revenues believing the demand to be price elastic for the airline's service. A change in prices causes a substantial change in the demand or supply is price elastic.
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Cash price is $6,000. a down payment of 10% is required. monthly payments will be $120 a month for 52 months
Based on the total payment, and the down payment, the interest rate can be found to be 6.72%.
What is the interest rate?First find the loan amount to be:
= 6,000 x (1 - 10% down payment)
= $5,400
The interest rate can be found by a spreadsheet formula called RATE.
Number of periods = 52
Payment = 120
PV = $5,400 loan amount
Rate will be:
= 0.00560
= 0.560%
In yearly terms this is:
= 0.560 x 12 months
= 6.72%
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True or false: All employees make an impact on a business.
5 points
True; all employees make a positive impact on a business
True; all employees make either a positive or negative impact on a business
False; only managers and supervisors make an impact on a business
False; only executives and board members make an impact on a business
Answer:
true; all employees make either a positive or negative impact on a business
Explanation:
what are the ources of information and communication?Describe
Answer:
One of the fundamental ideas in communication and information processing is the source or sender. Sources are objects that encode message data and transmit it to one or more observers over a channel (or receivers).
1do you think jack is an entrepreneur? motivate your answer.
Answer: I think jack is an entrepreneur because he is allowing kids to jumpstart their entrepreneurial journey. Kids can operate their own drink stands or marketplace locations, all while learning the basics of business and making money. jack helps kids know that they can always start young and be successful.
Explanation:
THIS IS FOR U.S. GOVERNMENT
Unlike the Speaker of the House, the president of the Senate
A.
is not elected by the Senate and may vote on any matter in the Senate.
B.
is elected by the Senate and may vote on any matter in the Senate.
C.
is elected by the Senate and may only vote to break a tie.
D.
is not elected by the Senate and may only vote to break a tie.
Buying office space is ______________ in the long run-in comparison to leasing. Which is the correct answer?
less difficult
less expensive
more expensive
more difficult
Answer:
less expansive
Explanation:
i took the test. i got it right
Buying office space is less expensive, as in the long run it will cover in the variable cost and economies of scale will work.
What is economies of scale?The cost advantages that businesses gain as a result of their size of operation are known as economies of scale in microeconomics. They are commonly quantified by the amount of output generated in a given amount of time. Scale can be increased when the cost per unit of output decreases.
The phenomenon known as economies of scale occurs when the scale or magnitude of the production produced by a firm increases while the average cost per unit of output decreases.
Technical, managerial, marketing, financial, commercial, and network economies of scale are the six different categories of internal economies of scale.
Economies of scale emerge when a company reaps the rewards of its size. A corporation gains from a variety of efficiency as it grows. For instance, serving 1,000 people at a restaurant is much more affordable and effective than serving just one.
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What is the relationship between interest rate, aggregate income, and price level?.
A decrease in income will lead to a decrease in price level and a decrease in the interest rate.
What is the relationship between these variables?When income declines, there would a decrease in demand and this would lead to a decline in price levels. When price levels fall, interest rate also decline. Thus, there is a positive relationship between these variables.
Evaluate the advantages and disadvantages of horizontal, vertical and conglomerate mergers.
Some of the advantages are related to increased market share and product diversification, while the disadvantages are less flexibility and culture shock.
What is an organizational merger?Occurs in the legal merger of two or more companies with the aim of forming a new organization.
The horizontal merger occurs between two competitors, the vertical between a buyer and a seller, and the merger of conglomerates occurs in companies from different areas of activity.
Therefore, despite the advantages of increasing market value and positioning, the merger between companies can be a risky strategy if it is not established in a planned way.
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If the price level falls, the real value of a dollar.
Answer:
If the price level falls, the value of the dollar goes up
Explanation:
When the prices decrease your money can buy more stuff with less money, as opposed to if the prices rise the value of the dollar goes down, as you cannot but as much stuff as you could before
Hope this helps! Pls mark brainliest
For a plaintiff to establish that he or she has standing to sue, the plaintiff must allege ________.
a. a lack of subject matter jurisdiction of the court
b. at least $100,000 in damages as a result of the controversy
c. extradition by the police of the state in which he or she resides
d. a personal stake in the resolution of the controversy
e. garnishment by the state in which the lawsuit is filed
For a plaintiff to establish that he or she has the standing to sue, the plaintiff must allege a personal stake in the resolution of the controversy.
Who is a Plaintiff?A plaintiff is an individual or group who initiates a lawsuit in a court of law. The plaintiff by doing so seeks justice and a legal remedy for that particular problem.
When a plaintiff seeks to establish that he or she has a legal standing to sue, he must allege a personal stake in the resolution of the controversy. That way, he would properly establish the fact.
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The difference between accounting profit and economic profit is.
Answer:
Accounting profit - Your actual profit
Economic profit - Profit, but opportunity cost factored out
Explanation:
Accounting profit is how much you made (Revenue - Explicit Cost.
Economic profit includes implicit costs, or opportunity cost. If you could have made $100,000 at a different job, you subtract that. If Accounting-Economic profit is 0 or higher, you should stay in business.
Why is it important to file your federal incomes taxes every year?.
Answer:
Avoid losing future refunds.
Explanation:
Part or all of any refund is first used to pay any back taxes owed. Safeguard credit. If the IRS files a tax lien against a taxpayer, it could affect credit scores and make it harder to get a loan.
Walmart sells a bike that cost $100 to a customer for $250 cash. using a perpetual inventory system, the entry to record the sale includes a debit to and credit to for $250. the entry to record the cost of the sale includes a debit to cost of goods sold and a credit to for $100.
i. true
ii. false
1. Using a perpetual inventory system, the entry to record the sale for Walmart includes a debit to the Cash account and a credit to the Sales Revenue account for $250.
2. The entry to record the cost of the sale under the perpetual inventory system includes a debit to the cost of goods sold and a credit to Inventory for $100.
What is the perpetual inventory system?The perpetual inventory system can be differentiated from the periodic inventory system by the fact that perpetual inventory continuously updates the inventory value without relying on the physical inventory count.
Under this system, the cost of goods sold is debited and the inventory account is credited.
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what are the two factors that go into which item is thought of as bought first, etc., when choosing between several possible purchases.
Answer:
Fifo
Explanation:
Because the stock that is bought first should be the one to be purchased first
The accounts receivable turnover ratio is calculated by:.
Answer:
It is calculated by dividing net credit sales by average accounts receivable
Explanation:
Game theory suggests that competing firms in an oligopolistic industry may be
Game theory suggests that competing firms in an oligopolistic industry may be reluctant to change prices because they anticipate that rivals will match price cuts but ignore price increases.
What is Game theory?Game theory looks at the interactions between participants in a competitive game and calculates the best choice for the player.
Dominant strategy is the best option for a player regardless of what the other player is playing. Nash equilibrium is the best outcome for players where no player has an incentive to change their decisions.
Here are the options:
. too quick to raise prices because they will fail to anticipate that rivals may gain market shares.
b. reluctant to change prices because they anticipate that rivals will match price cuts but ignore price increases
c. reluctant to change prices because they anticipate that rivals will ignore price cuts but match price increases
d. too quick to cut prices because they fail to anticipate that rivals may also cut their prices.
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Game theory suggests that competing firms in an oligopolistic industry may be reluctant to price changes.
What do you mean by oligopoly?An oligopoly is a form of market that is made up of a few large firms engaging in strategic behavior. An automobile is the best example of an oligopoly market.
A game theory suggests that competing firms in an oligopoly industry may be reluctant in changes the price because they can analyze that rivals can match the price cuts but generally ignore the increase in the prices.
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Describe some of the arguments that supporters and opponents of wealth tax make.
The arguments that the supporters of Wealth Tax make is that it would help to make a progressive tax system and also ensure income inequality is reduced. The opponents argue that it would reduce the income of the wealthy.
What is wealth tax?This is regarded as the type of tax that is placed on the individual assets that people own.
This tax is on the cash they have, their personal belongings, their properties and their securities.
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How much time after selling a house do you have to buy a house to avoid the tax penalty?.
Answer:
no idea but im pretty sure its 6 months
Explanation:
becuase i think so
Financial incentives given by the government to corporations, individuals, or other governments for the purpose of encouraging certain activities or behaviors are ______.
a. Grants
b. Entitlements
c. Welfare programs
d. Subsidies
Answer:
It os D, subsidies. this is correct.
Bankruptcy is considered a last resort because it stays on someone’s record for one to four years. four to seven years. seven to ten years. eleven to fourteen years.
Bankruptcies remain on a consumer's credit report for ten years after they are filed. As a result, option (c) is the proper response.
What is bankruptcy?Bankruptcy is a legal process that can appear on your credit reports for up to ten years after your debts have been cleared and the bankruptcy has been finalized.
The bankruptcy will automatically be removed from your credit report after seven or ten years.
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Please help!!
Take a critical and analytical (objective) look at your life. Think about your wants and needs. List in two separate columns your top ten wants and your top ten needs. For each one, give a one-sentence explanation about why it is a want or a need.
Next, explain why you need your needs, but don't need your wants. How does this change your perspective when considering things you want?
this what I have so far
NEEDS:
WANTS:
New clothing
New phone
Hair products
Oculus headset
New shoes
drone
Education(college)
Car
My driver's License's
Phone case
Select all that apply Determine which of the following expenses are considered revenue expenditures related to a company vehicle. (Check all that apply.) Multiple select question. Engine overhaul Dent repair Installation of special equipment Car wash Oil change
Revenue expenditures are additional costs of plant assets that do not materially increase the asset’s life or productive capabilities. Hence, the answer the one that does not apply is Installation of special equipment.
Revenue expenditures related to a company vehicleEngine overhaul Dent repairCar wash andOil changeTherefore, the one that does not apply is Installation of special equipment.
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Answer:
dent repair , oil change ,car wash
Explanation:
True or false: A capital gain on a stock is counted as part of the total return whether or not the gain is realized from selling the stock. True false question. True False
A capital gain on a stock is counted as part of the total return whether or not the gain is realized from selling the stock: True.
What is a Stock?A stock is fractional ownership of equity in a company. Stock consists of all the ownership of an organization that is divided among members who acquire it. It is also an investment that represents ownership in a company.
In the case of a capital gain on a stock, it is counted as part of the total return whether or not the gain is realized from selling the stock. So this statement is True because the gain is also counted no matter the outcome of the stock.
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A grouping of technologies that marketers leverage to conduct and improve their marketing activities"" is the definition of what term?.
A grouping of technologies that marketers leverage to conduct and improve their marketing activities"" is the definition of: marketing technology stack.
What is marketing technology stack?Marketing technology stack can be defined as the process of measuring and evaluating market activities in order to improve it.
Marketing technology stack is important for companies or organizations as it help to provide market automation they will help them acheive their set goals and objective.
Inconclusion marketing activities"" is the definition of: marketing technology stack.
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why does the hand and foot are the most abused part of the body ?pa help po
The hand and foot are the most abused part of the body because they are used to perform majority of the functions and movements in individuals.
What is Movement?This happens when an organism or object changes its position over time. The hand and foot are majorly involved in movement from one place to another.
They are also responsible in performing tedious physical activities which is why they are the most abused part of the body.
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