To find the amount of cash paid to the suppliers of goods for Harold Company, we need to consider the following terms: inventory, accounts payable, and cost of goods sold. Here's a step-by-step explanation:
1. Calculate the cost of goods sold (COGS): Since the inventory costing $350,000 was sold for a selling price of $675,000, the COGS is $350,000.
2. Determine the change in inventory: The beginning balance of inventory was $86,000, and the ending balance is $94,000. The change in inventory is $94,000 - $86,000 = $8,000 (an increase in inventory).
3. Calculate the total inventory purchased: COGS + change in inventory = $350,000 + $8,000 = $358,000.
4. Determine the change in accounts payable: The beginning balance of accounts payable was $116,000, and the ending balance is $123,000. The change in accounts payable is $123,000 - $116,000 = $7,000 (an increase in accounts payable).
5. Calculate the amount of cash paid to the suppliers of goods: Total inventory purchased - change in accounts payable = $358,000 - $7,000 = $351,000.
Therefore, the amount of cash paid to the suppliers of goods during the current year for Harold Company is $351,000.
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Ryan invested in company stock in the year 1996 . The annual yield for his investment was 6.5%; however, the inflation rate was 7.6%. (a) What was the real growth rate of this investment? Answer: % (b) Suppose Ryan wants to make a better investment that will have a real growth rate of 9.6%. What annual interest rate will he need to earn on his investment to accomplish his goal? Answer: %
Ryan would need to earn an annual interest rate of 17.2% on his investment to accomplish his goal of a real growth rate of 9.6%.
(a) To calculate the real growth rate of Ryan's investment, we need to subtract the inflation rate from the annual yield rate. In this case, the annual yield rate is 6.5% and the inflation rate is 7.6%.
Real Growth Rate = Annual Yield Rate - Inflation Rate
Real Growth Rate = 6.5% - 7.6%
Real Growth Rate = -1.1%
Therefore, the real growth rate of Ryan's investment is -1.1%.
(b) To determine the annual interest rate Ryan would need to earn on his investment to achieve a real growth rate of 9.6%, we need to add the inflation rate to the desired real growth rate.
Annual Interest Rate = Real Growth Rate + Inflation Rate
Annual Interest Rate = 9.6% + 7.6%
Annual Interest Rate = 17.2%
Therefore, Ryan would need to earn an annual interest rate of 17.2% on his investment to accomplish his goal of a real growth rate of 9.6%.
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In which market would a producer sell bicycles to consumers?
In the markets for goods and services, a producer would sell his bike for purchase by customers.
What is the market for goods and services?Consumers buy consumables on the products and services market, and firms sell their commodities there. The market encompasses physical stores, the Internet, and any other location where consumers can exchange products and services.
The trading of finished goods takes place here. Businesses receive payment from customers in exchange for goods. The consumer gives money to the business in a flow. In contrast to this, enterprises can buy the materials they need on the factor market to make an item.
The rule of supply and demand governs how much is produced and at what price in the market for products and services.
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Help needed ASAP! Will give brainliest;) Try to help on my other questions:)
Entrepreneurs file a DBA document when using another name for their company. Why are DBA’s necessary?
A). DBA’s provide trademarking of the company logo.
B). DBA’s provide identification for taxes.
C). DBA’s are needed to open bank accounts.
if u in my comments pressed imma get disrepectfull am i right or wrong ?
Answer:
Explanation:
wrong
Flotation Costs (L07) Judson Inc recently issued new securities to finance a new TV show. The project cost $14 8 million, and the company paid $805,000 in flotation costs. In addition, the equity issued had a flotation cost of 78% of the amount raised, whereas the debt issued had a flotation cost of 3 8% of the amount raised. If Judson issued new securities in the same proportion as its target capital structure, what is the company's target debt-equity ratio? (Do not round Intermediate calculations, Round the final answer to 4 decimal places. ) Debt-Equity ratio
To calculate the target debt-equity ratio, we need to first calculate the proportion of debt and equity that Judson Inc should issue according to its target capital structure.
Let's assume that the total amount raised by the company is X, and that the target debt-equity ratio is D/E.
The amount of equity raised will be a fraction of X, where the numerator is the equity portion and the denominator is the total proportion of equity and debt:
Equity portion = 1 / (1 + D/E)
The amount of debt raised will be a fraction of X, where the numerator is the debt portion and the denominator is the total proportion of equity and debt:
Debt portion = D/E / (1 + D/E)
Now we can calculate the flotation costs for the equity and debt portions separately:
Flotation cost for equity portion = 0.78 * (1 / (1 + D/E)) * X
Flotation cost for debt portion = 0.038 * (D/E / (1 + D/E)) * X
The total flotation costs will be the sum of these two:
Total flotation cost = 0.78 * (1 / (1 + D/E)) * X + 0.038 * (D/E / (1 + D/E)) * X + $805,000
We know that the total project cost was $14.8 million, so:
X + Total flotation cost = $14.8 million
Substituting the above expressions for the total flotation cost and X:
(1 + 0.78 / (1 + D/E) + 0.038 * D/E / (1 + D/E)) * X + $805,000 = $14.8 million
Simplifying and rearranging:
X * [(1 + D/E) + 0.78 + 0.038 * D/E] = $14,007,000
X * [(1.038 * D/E) + 1.78] = $14,007,000
X = $14,007,000 / [(1.038 * D/E) + 1.78]
Substituting X into the earlier equations for the equity and debt portions, we get:
Equity portion = 1 / (1 + D/E) = 1 / [(1.038 * D/E) + 1.78]
Debt portion = D/E / (1 + D/E) = (D/E) / [(1.038 * D/E) + 1.78]
Now we can substitute these expressions for the equity and debt portions into the equation for X:
X = [$14,007,000 / [(1.038 * D/E) + 1.78]]
X = [(1 / (1.038 * D/E + 1.78)) * $14,007,000]
Now we can substitute the expression for X into the equation for the total flotation cost:
[(0.78 / (1 + D/E)) + (0.038 * D/E / (1 + D/E))] * [(1 / (1.038 * D/E + 1.78)) * $14,007,000] + $805,000 = $14.8 million
Simplifying:
(0.78 / (1 + D/E)) + (0.038 * D/E / (1 + D/E)) = [(1.78 / $14,007,000) * (1.038 * D/E + 1.78)] - (805,000 / $14,007,000)
(0.78 / (1 + D/E)) + (0.038 * D/E / (1 + D/E)) = 0.000203.
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Which of these is NOT a main type of transaction?
Group of answer choices
Deposit
Withdrawal
Transfer
Loan
Economics - What’s an example where the market approach would not be appropriate? Why?
try defining what a market approach is: a method of determining the value of a product based on the selling price of similar products.
you can then proceed to think of a specific product or brand which is extremely overpriced (meaning sales volume will be low) or underpriced (meaning profit is not as much as it could be).
a simple example of this could be misjudging the value of real estate, and selling houses, land and other infrastructure for either much more or much less than you should
Materiality can be affected by the dollar amount of an item, the nature of the item, or both. True or False
True, Materiality can be affected by both the dollar amount of an item and the nature of the item.
The materiality threshold for a particular item may be higher or lower depending on these factors. For example, a small dollar amount item may be considered material if it is related to a significant risk or if it has a potential impact on the financial statements.
On the other hand, a large dollar amount item may not be material if it is related to a low risk or if it is of a routine nature.
Therefore, materiality is a relative concept that depends on the circumstances of each individual case.
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You buy a new commercial stove for $9,000 and estimate that it will enable you to deliver 20 additional meals per night at an average price of $20. Assuming 25% food cost and no additional costs to using the new stove, how long will it take the stove to pay for itself? a)30 days, b) 90 days, c)180 days, d)365 days
Answer:
a)30 days
Explanation:
For the stove to repay itself, it will have to reach the break-even point.
the costs associated with the are the cost $9000
The gains from the stove: 20 meals per night at $20.
the cost per mean is 25% of the selling price
=25/100 x 20
=0.25 x20
=$5
The profits per meal = $20 -$5 = $15
Profits for 20 meals = $15 x 20 =$300
Dairy income from the stove is $300
To recover the cost, it will take $9000/$300 days.
=30 days
Answer:
30 days
Explanation:
What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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. calculate the receivables turnover ratio and the average collection period for walco, tarmart and costget. 2. which company appears most efficient in collecting cash from sales?
WalCo has the highest receivables turnover ratio and the lowest average collection period, which suggests that WalCo is most efficient in collecting cash from sales.
How did we arrive at this assertion?
For each company, calculate the receivables turnover ratio and the average collection period (rounded to one decimal place). Which company appears most efficient in collecting cash from sales?
To calculate the receivables turnover ratio, we use the following formula:
Receivables turnover ratio = Net Sales / Average Accounts Receivable
To calculate the average collection period, we use the following formula:
Average Collection Period = 365 days / Receivables Turnover Ratio
Let's first calculate the receivables turnover ratio and average collection period for WalCo:
Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2
= ($1,815 million + $2,762 million) / 2
= $2,288.5 million
Receivables turnover ratio = Net Sales / Average Accounts Receivable
= $322,427 million / $2,288.5 million
= 140.8
Average Collection Period = 365 days / Receivables Turnover Ratio
= 365 days / 140.8
= 2.6 days (rounded to one decimal place)
Now, let's calculate the receivables turnover ratio and average collection period for TarMart:
Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2
= ($6,166 million + $6,694 million) / 2
= $6,430 million
Receivables turnover ratio = Net Sales / Average Accounts Receivable
= $67,878 million / $6,430 million
= 10.6
Average Collection Period = 365 days / Receivables Turnover Ratio
= 365 days / 10.6
= 34.4 days (rounded to one decimal place)
Finally, let's calculate the receivables turnover ratio and average collection period for CostGet:
Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2
= ($629 million + $665 million) / 2
= $647 million
Receivables turnover ratio = Net Sales / Average Accounts Receivable
= $68,963 million / $647 million
= 106.6
Average Collection Period = 365 days / Receivables Turnover Ratio
= 365 days / 106.6
= 3.4 days (rounded to one decimal place)
From the above calculations, we can see that WalCo has the highest receivables turnover ratio and the lowest average collection period, which suggests that WalCo is most efficient in collecting cash from sales. TarMart has the lowest receivables turnover ratio and the highest average collection period, which indicates that it takes TarMart longer to collect its receivables compared to the other two companies.
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The complete question goes thus:
Below are amounts (in millions) from three companies' annual reports.
Beginning Accounts Receivable
Ending Accounts Receivable
Net Sales
WalCo
$
1
,
815
$
2
,
762
$
322
,
427
TarMart
$
6
,
166
$
6
,
694
$
67
,
878
CostGet
$
629
$
665
$
68
,
963
WalCo
TarMart
CostGet
Beginning Accounts Receivable
$1,815
$6,166
$629
Ending Accounts Receivable
$2,762
$6,694
$665
Net Sales
$322,427
$67,878
$68,963
monetarists believe group of answer choices A. real gdp is not determined by m in the long run.
B. velocity is constant
C.. the sras curve is vertical. D. a and c E. a, b and c
Monetarists believe that in the long run, real GDP is not determined by changes in the money supply, but rather by underlying factors such as technology and productivity. The correct option is A.
Monetarists believe in the quantity theory of money, which posits that the level of prices in an economy is directly proportional to the amount of money in circulation. Therefore, they believe that changes in the money supply have a direct impact on the overall level of prices.
Monetarists also believe that velocity, or the rate at which money changes hands, is relatively stable over time.
They argue that changes in the money supply will primarily affect prices rather than output, as increases in the money supply will lead to higher prices if velocity remains constant. Therefore, they advocate for a stable growth rate in the money supply to maintain price stability.
Regarding the supply-side of the economy, monetarists argue that the short-run aggregate supply (SRAS) curve may be upward sloping due to sticky prices and wages.
However, they believe that in the long run, the SRAS curve will become vertical, as wages and prices adjust to changes in the money supply, resulting in a constant output level at the natural rate of unemployment.
In summary, monetarists believe that in the long run, real GDP is not determined by changes in the money supply, but rather by underlying factors such as technology and productivity.
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In order for a sales team to achieve full potential, modern day sales organizations assign specialized roles to increase efficiency and productivity of their sales teams. For example, ________________________ are farmers, with the sole responsibility of increasing customer loyalty and retention through additional services so that customers continue to use and expand a firm's product and service offerings. ____________ are hunters who are responsible for finding new clients.
Answer:
Customer success or client Development Reps; Sales Development Reps.
Explanation:
Marketing mix can be defined as the choices about product attributes, pricing, distribution, and communication strategy that a company blends and offer its targeted markets (customers) so as to build and maintain a desired response.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
In order for a sales team to achieve full potential, modern day sales organizations assign specialized roles to increase efficiency and productivity of their sales teams. For example, Customer success or client Development Reps are farmers, with the sole responsibility of increasing customer loyalty and retention through additional services so that customers continue to use and expand a firm's product and service offerings. Sales Development Reps are hunters who are responsible for finding new clients.
How do depreciating assets hurt your financial health?
a. They decrease your net worth.
b. They increase your discretionary spending.
d. They lower your FICO score.
c. They increase your equity.
Answer:
A
Explanation:
net worth is based on assets and income so if assets decrease your net worth decreases
1. If you created an incentive pay option for an organization,
would you set individual targets and goals, or would you instead
set the incentive and pay-outs based on group achievements?
Why?
2. If
When establishing an incentive pay option for an organization, there are two approaches to consider, either individual goals or group achievements. The decision is based on the organization's goals and work atmosphere. One could argue that group achievements would lead to a positive work environment in which employees would collaborate and support each other to achieve the group goal.
In contrast, some may argue that individual goals lead to more competitiveness and better performance from employees. This article will assess the advantages and disadvantages of each approach.
1. If you created an incentive pay option for an organization, would you set individual targets and goals, or would you instead set the incentive and pay-outs based on group achievements? Why?
Individual Targets and Goals:
Advantages: Individual goals and targets may lead to an increase in productivity and focus among employees, which may lead to improved performance and better results for the company. The competitiveness and drive that individual targets encourage could lead to the company achieving its objectives more quickly. As a result, the business may become more successful and improve employee satisfaction.
Disadvantages: Individual targets can sometimes lead to a reduction in teamwork and collaboration among employees. Employees may compete with one another rather than working together. It could also lead to some employees feeling left out and underappreciated, especially if they work in a support role and cannot achieve individual targets.
Group achievements:
Advantages: Group goals and targets can lead to a more positive work atmosphere in which employees collaborate and support one another to achieve the group objective. This approach may foster better communication and teamwork among employees. It may also lead to better outcomes for the company, with employees feeling that they are a part of a larger group working towards a shared goal.
Disadvantages: Group goals may lead to less individual focus and, as a result, reduced motivation. Employees may feel that their performance does not impact the overall results of the company and may be less driven to work hard. There may also be problems with slackers who do not put in as much effort, which may decrease the team's overall performance.
2. If you were to create an incentive pay option for an organization, it would be best to choose a combination of individual goals and group achievements. This approach would encourage employees to work together while still maintaining a level of competitiveness and motivation. By establishing clear guidelines and communication, employees would be aware of how their performance impacts the company's overall results. Additionally, it would be beneficial to choose incentive payouts that are not just monetary but may also include recognition or other non-financial rewards. The company's objectives should be kept in mind when creating incentive pay, and it should be made clear how each employee's performance contributes to the company's success.
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.Twins Natalie and Kaitlyn are both age 24. They both live in Warren, Ohio. Beginning at age 24, Natalie invests $9,000 per year for ten years and then never sets aside another penny. Kaitlyn waits ten years and then invests $9,000 per year for the next 30 years. Assume they both earn 7 percent. Round your answers to the nearest dollar. (Hint: Use Appendix A-1 and Appendix A-3 or visit the Garman/Forgue companion website.) Round Future Value of a series of Equal Amounts and Future Value of a Single Amount in intermediate calculations to four decimal places.
How much will Natalie have at age 64?
$
How much will Kaitlyn have at age 64?
Natalie and Kaitlyn, the twins from Warren, Ohio, have taken different investment paths that will ultimately shape their financial outcomes. Let's examine how their investment decisions will impact their wealth at age 64, assuming an annual return rate of 7 percent.
Natalie, being proactive, starts investing $9,000 per year from the age of 24 for a duration of 10 years. To calculate her future value, we can use the formula for the future value of a series of equal amounts. Plugging in the numbers, we find that Natalie's investment will grow to approximately $156,093 by the time she reaches age 64.
On the other hand, Kaitlyn takes a different approach. She delays her investments for 10 years and then invests the same amount, $9,000 per year, for a longer period of 30 years. To determine Kaitlyn's future value, we can again use the future value of a series of equal amounts formula. Considering the same interest rate, Kaitlyn's investment will accumulate to approximately $349,628 by the time she reaches age 64.
Comparing their final amounts, we can see that Kaitlyn ends up with a significantly higher sum than Natalie. This is due to the compounding effect of interest over a longer period. Kaitlyn's investment has more time to grow and benefit from the power of compounding, resulting in a considerably larger nest egg.
In summary, at age 64, Natalie is projected to have around $156,093, while Kaitlyn is expected to have approximately $349,628. Kaitlyn's decision to delay her investments but contribute for a longer period ultimately pays off in terms of greater wealth accumulation. This example highlights the importance of starting early when it comes to investing, as it allows for a longer investment horizon and the potential for higher returns.
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The enhanced cost-per-click (ECPC) bidding strategy can be described in which of the following ways?
ECPC first looks at ad auctions, before raising a max cost-per-click (CPC) bid.
ECPC first looks at ad auctions, before lowering a max cost-per-click (CPC) bid.
ECPC first looks at a listed target return on investment (ROI), before lowering a max cost-per-click (CPC) bid.
ECPC first looks at a listed target return on investment (ROI), before raising a max cost-per-click (CPC) bid.
The enhanced cost-per-click (ECPC) bidding strategy can be described as:
ECPC first looks at ad auctions, before raising a max cost-per-click (CPC) bid.
In the ECPC bidding strategy, the system evaluates ad auctions and adjusts the maximum cost-per-click (CPC) bid accordingly. The goal of ECPC is to optimize the bidding process to increase the likelihood of conversions or desired actions from users. By analyzing the auction dynamics and historical performance data, ECPC automatically adjusts the CPC bid higher in situations where it is likely to yield better results. This approach helps advertisers maximize their campaign performance by allocating more resources to auctions that are more likely to generate desired outcomes.
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A restaurant's rent is scheduled to increase by 7.1% next year. If the current monthly rent is $2,780, the new rent will be:________
a. $2,613
b. $2,945
c. $2,919
The new rent will be $2,977
Given, The rent for a restaurant is expected to rise by 7.1% in 2019 and the if the existing rate is $2,780 per month.
$2,780 + 7.1% (197.38)
$2780 +0.071 x 197.38
= $2,977
In simple words , "rent" can be defined as the portion of the produce that is is paid to the landowner in exchange for using his products and services. But rent has occasionally been defined differently in economics. Rent thus only relates to making payments for production elements with an inelastic supply. For instance, it is the cost associated with using land.
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According to Aileen Hernandez, the only woman on the Equal Opportunity Employment Commission at the time, the first gender-based case under Title VII of the Civil Rights Act dealt with what industry/job
Airline stewardesses best lady on the identical possibility Employment fee at the time, the primary gender-based case underneath identify VII of the Civil Rights Act dealt with what enterprise/job.
The phrases "stewardess" and "flight attendant" describe the same simple process of tending to month-to-month plane passengers' wishes and protection. "Stewardess," but, is an old time period that has been replaced by way of "flight attendant" on all airways.
A flight attendant also referred to as month monthly steward/stewardess or air host/air hostess, is a member of the aircrew aboard business flights, many business jets, and some government plane. together month-to-month as a cabin team, flight attendants are on the whole responsible for passenger safety and luxury.
Airplanes with a seating potential above 100 passengers require two Airline stewardesses, plus one extra flight attendant for each unit of fifty passenger seats above a seating potential of a hundred passengers; i.e., one hundred fifty passengers might require 3 flight attendants, 200 passengers could require 4 flight attendants, and so on.
Flight attendants work 12-14 days and log sixty-five-eighty-five flight hours every month, not together with additional time. Flight attendant schedules can alternate and some attendants may fit more weeks than others. Flight attendants can be far away from home for numerous days in a row consisting of weekends and vacations and therefore have month monthly be flexible. The maximum number of flying hours in line with the day is ready by means of the union agreement, and on-duty time is normally constrained to twelve hours in keeping with the day, with each day most of 14 hours.
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the suggestion of utilizing venture capitalists, loans, or self-funding are all options to help alleviate wich challenge of entrepreneurship
The suggestion of utilizing venture capitalists, loans, or self-funding are all options to help alleviate the challenge of managing people.
What is entrepreneurship?The entrepreneurship serves the activity that involves the setting up of a business or businesses, by taking the financial risks in the hope of profit.
Therefore, suggestion of utilizing venture capitalists, loans, or self-funding are all options to help alleviate the challenge of managing people.
In this case, as an entrepreneur, one should able to have the mind to bear the risk as well as make the good decision that is need for the success of the business, examples of entrepreneur are; Mark Zuckerberg, Bill Gate and others.
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classify each market characteristic in terms of whether it is a trait of perfectly competitive markets, monopolistically competitive markets, or both market structures.
Both market structures can display non-price competition, where firms compete through variables other than cost, such as promotion or item highlights.
Why do market characteristics display non-price competition in a competitive market?In competitive markets, cost takers and an expansive number of buyers and dealers are characteristics of superbly competitive markets. Item separation and ease of section and exit are characteristics of monopolistically competitive markets.
In flawlessly competitive markets, firms are cost-takers and there are various buyers and dealers.
Monopolistically competitive markets include item separation and simpler entry/exit, therefore, Non-price competition can happen in both market structures.
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The complete question:
"In terms of showcase structure, classify the taking after characteristics as characteristics of superbly competitive markets, monopolistically competitive markets, or both: cost takers, item separation, ease of passage and exit, non-price competition, and an expansive number of buyers and dealers."
Franklin is planning for a purchase of a vehicle in two years. Since he wants to be
certain that his funds are safe (insured), which of the following should he use? *
O A credit card
O A mortage
O A loan
O A savings account
Answer: A Savings Account
Explanation:
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Answer:
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If $240 is invested at an interest rate of 9% per year and is compounded monthly, how much will the investment be worth in 14 years? Use the compound interest formula A = P(1 r over n)nt. $68. 39 $704. 28 $842. 13 $846. 10.
With an investment of $240 at 9% interest rate, compounded monthly for 14 years, the investment will be worth $842. 13.
Data and Calculations:N (# of periods) = 168 (14 x 12)
I/Y (Interest per year) = 9%
PV (Present Value) = $240
PMT (Periodic Payment) = $0
Results:Future Value = $842.13
Total Interest $602.13
Thus, with an investment of $240 at 9% interest rate, compounded monthly for 14 years, the investment will be worth $842. 13.
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The four seasons spa and salon has retained a marketing consultant to assist them with its annual strategic planning retreat. Shantelle stevens, the owner of the salon, is reviewing the agenda for the meeting and observes that the sequence of activities follows the strategic planning process discussed in her marketing class many years ago. What is the first activity the organization should pursue as part of its strategic planning process?.
Firms are known to have goals. the first activity the organization should pursue as part of its strategic planning process is to;
Review or establish the organization's mission and goals.What is the mission and goals of the Organization about?The mission of any firm is said to show or depicts the organization's past and present by using or stating why the organization exists.
It also talks about the role a firm plays in society. Goals are said to be some key aims that organizations have to pursue so as to reach their visions and missions.
The best goals are regarded as SMART. which means: specific, measurable, achievable, realistic, and time-bound.
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Cowboy Company's sales employees earn a total of $60,000 per month and are paid on the last working day of the month. Each employee's wages are subject to FICA Social Security taxes of 6.2% and Medicare taxes of 1.45% on all wages. Withholding for each employee also includes federal income tax of 12% and monthly medical insurance premiums of $3,300 for the employees. The employer payroll taxes for Cowboy Company include FICA taxes, federal unemployment taxes of 0.6% of the first $7,000 paid each employee, and state unemployment taxes of 5.4% of the first $7,000 paid to each employee. Prepare the journal entry to record the employer's payroll taxes at January 31 for Cowboy Company. (Assume that none of the employees have reached the unemployment limit of $7,000.) Prepare the journal entry to record the employer's payroll taxes at January 31 for Cowboy Company. (Assume that none of the employees have reached the unemployment limit of $7,000.)
The journal entry to record the employer's payroll taxes at January 31 for Cowboy Company is given below.
How to depict the journal entryDate: January 31, 2023
Record the FICA Social Security taxes:
Debit: Payroll tax expense (an expense account)
Credit: FICA Social Security taxes payable (a liability account)
Record the Medicare taxes:
Debit: Payroll tax expense (an expense account)
Credit: Medicare taxes payable (a liability account)
Record the federal unemployment taxes:
Debit: Payroll tax expense (an expense account)
Credit: Federal unemployment taxes payable (a liability account)
Record the state unemployment taxes:
Debit: Payroll tax expense (an expense account)
Credit: State unemployment taxes payable (a liability account)
Once you have the specific amounts for each tax, you can determine the debit and credit values for the journal entries.
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Which of the following is not an advantage of a CD as a cash management alternative?
a. CDs have fixed interest rates, which are beneficial if interest rates drop
b. CDs are insured
c. CDs offer a wide selection of maturities
d. CDs are convenient to purchase
e. CDs offer liquidity
The liquidity CDs offer is not an advantage of a CD as a cash management alternative. The correct option is e.
CDs, or certificates of deposit, are a type of savings account that offer a fixed interest rate and a guaranteed return on investment over a specified period, or term. CDs are typically offered by banks and credit unions, and are insured by the Federal Deposit Insurance Corporation (FDIC) up to a certain amount.
One advantage of CDs is that they have fixed interest rates, which can be beneficial if interest rates drop. This means that the investor will continue to earn the same rate of interest for the duration of the CD term, regardless of changes in market conditions.
CDs also offer a wide selection of maturities, ranging from a few months to several years, which allows investors to choose the term that best suits their cash management needs.
Another advantage of CDs is that they are insured by the FDIC, which provides protection against bank failures and insolvency. This means that if the bank or credit union that issued the CD goes out of business, the investor will still receive their principal and accrued interest, up to the insured limit.
CDs are also convenient to purchase, as they can be bought at a bank branch, online, or over the phone. They are easy to understand, and investors know exactly what they will earn on their investment before they buy the CD.
However, CDs do not offer liquidity, as they are designed to be held until maturity. If an investor needs to access their funds before the CD matures, they will typically be charged an early withdrawal penalty, which can reduce or eliminate their return on investment. As such, CDs are not the best option for investors who require regular access to their cash. Therefore the correct answer is option e.
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Why do you think time is an important aspect of work study
when the two countries did not specialize, the total production of pistachios was 23 million pounds per day, and the total production of chinos was 68 million pairs per day. because of specialization, the total production of pistachios has increased by
Because of specialization, the total production of pistachios has increased by 13 million pounds per day, while the total production of chinos has increased by 36 million pairs per day.
This increase in production is due to the ability of the two countries to specialize in the production of the goods that they can produce most efficiently. As a result, the production of pistachios and chinos has increased significantly.
Specializing in production can also result in increased competition and international trade. As countries specialize in certain goods, they are able to produce them more cheaply and efficiently than other countries. This can lead to increased competition between countries and the emergence of international trade as countries buy from and sell to each other.
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a business hires a man over a more qualified woman
If a man is hired by a business over a more qualified woman, this is known as gender biasness or gender inequality.
What is Gender inequality?Gender inequality is the irregular treatment over genders, a person may be biased and choose a specific gender over the other.
Gender inequality is usually faced by woman in the business, when they appear for an interview or apply for a job, a male candidate is preferred over a more qualified female.
The mindset of people still think that woman perform less than the man and therefore man are hired. However in general women have the ability to compete with man and they can stand side by side.
This is often said and practiced that woman are paid less salaries then men, they are offered less for an equal role.
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