using the information below, calculate the cost of goods manufactured for the period: beginning raw materials inventory $ 37,000 ending raw materials inventory 28,600 beginning work in process inventory 67,000 ending work in process inventory 76,000 beginning finished goods inventory 98,000 ending finished goods inventory 79,000 cost of goods sold for the period 552,000 sales revenues for the period 1,266,000 operating expenses for the period 244,000
Answers
Cost of Goods Manufactured (COGM) refers to the total cost of manufacturing finished goods. It comprises the cost of direct materials used, direct labor and factory overhead, and is calculated to determine the value of inventory production for a specific period.
Calculating Cost of Goods ManufacturedBeginning Raw Materials Inventory = $37,000Ending Raw Materials Inventory = $28,600Direct Materials Purchased = $37,000 - $28,600 = $8,400Direct Materials Used in Production = $8,400 + (Total Raw Materials) - $37,000 = $28,800Beginning Work in Process (WIP) Inventory = $67,000Ending Work in Process (WIP) Inventory = $76,000Direct Labor Used = Total Manufacturing Cost - Overhead - Direct Materials = COGM - Overhead - Direct MaterialsDirect Labor Used = $190,000Beginning WIP + Direct Materials Used + Direct Labor Used + Manufacturing Overhead = COGMManufacturing Overhead = Total Manufacturing Cost - Direct Materials - Direct LaborManufacturing Overhead = $256,000COGM = $67,000 + $28,800 + Direct Labor Used + $256,000COGM = $67,000 + $28,800 + ($190,000 - $256,000) = $29,800Therefore, the cost of goods manufactured for the period is $29,800.
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Related Questions
An example of form utility is when a customer gives cash in exchange for a pair of
sunglasses.
O TRUE
O FALSE
Answers
develop a list of sales tools you could use in a job interview situation. what tools could you use to demonstrate your skills and capabilities?
Answers
A list of sales tools that you could use in a job interview situation to demonstrate your skills and capabilities are Sales Portfolio,Sales Presentations,CRM Experience,Certifications and Trainings,Sales Metrics,Problem-solving Scenarios,Role-play Exercise.
1. Sales Portfolio: Compile a comprehensive sales portfolio showcasing your previous work, accomplishments, and client testimonials. This can help demonstrate your sales skills and capabilities.
2. Sales Presentations: Prepare a well-designed sales presentation that highlights your expertise in creating persuasive and engaging presentations. This can serve as a visual aid during your interview.
3. CRM Experience: Share your experience with Customer Relationship Management (CRM) tools like Salesforce, HubSpot, or Zoho. This can demonstrate your capabilities in managing sales processes and tracking customer interactions.
4. Certifications and Trainings: Mention any sales-related certifications and trainings you have completed, such as the Certified Sales Professional (CSP) or a sales training course. This will show your dedication to improving your sales skills.
5. Sales Metrics: Provide quantifiable results from your previous sales roles, such as meeting or exceeding sales targets, customer retention rates, or average deal size. These metrics will illustrate your sales capabilities.
6. Problem-solving Scenarios: Prepare examples of situations where you've utilized your sales skills to overcome challenges and close deals. This will demonstrate your problem-solving capabilities in a sales context.
7. Role-play Exercise: Offer to engage in a role-play exercise with the interviewer to demonstrate your sales skills in action. This could involve pitching a product or service, handling objections, or negotiating terms.
By using these sales tools in your job interview, you'll effectively showcase your sales skills and capabilities to potential employers.
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as part of the ______ process, the recruited candidates are typically asked to complete an application to provide biographical data. A. selection B. recruitment C. human resource D. planning E. validity
Answers
As part of the selection process, the recruited candidates are typically asked to complete an application to provide biographical data. The correct answer is option (A).
The selection process involves evaluating and choosing the most suitable candidates for a particular job position within an organization. When candidates are asked to complete an application, it serves as a means for collecting essential biographical data about the individuals. The application typically includes sections for personal information, educational background, work experience, skills, references, and other relevant details. This information allows the hiring organization to assess the qualifications, experiences, and suitability of the candidates for the position.
The application form helps streamline the selection process by providing a standardized format for collecting consistent and comparable data from all applicants. It enables the hiring team to review and compare the qualifications and experiences of candidates objectively.Additionally, the application form can also serve as a legal document, as candidates are required to provide accurate and truthful information. It helps in ensuring compliance with employment laws and regulations, including anti-discrimination laws and background checks. Hence option (A) is the correct answer.
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The hypothetical country of Villagestan has no imports, no income taxes, and current real GDP that equals $150 million . Calculate the new level of real GDP if investment spending increases by $13.5 million and the marginal propensity to consume (MPC) is 0.7 .
Answers
Based on the current level of GDP, the investment spending, and the MPC, the new level of the real GDP will be $195 million.
What is the new level of the GDP?First find the investment multiplier as:
= 1 / (1 - MPC)
= 1 / (1 - 0.7)
= 3.333
The new level of GDP is:
= Current level of GDP + (Investment spending x Multiplier)
= 150 + (13.5 x 3.333)
= $195 million
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a manufacturer conducts marketing research and estimates that consumers will accept a price of $50 for a pair of sunglasses. if the manufacturer expects to offer trade discounts of 40/10 to retailers and wholesalers, what price will the manufacturer receive for the sunglasses?
Answers
Answer:
72983
Explan my not telling
Caleb will be going to college next year. He would like to save some money for living expenses. Select the goal that would be the most helpful for him.
Answers
Answer:
save 100$ each check.
Explanation:
In a CPMT, the ____ leads the project to make sure a sound project planning process is used, a complete and useful project plan is developed, and project resources are prudently managed.
Answers
Answer:
managers or skateholders
Explanation:
bc that is the answer
Which of the following are not normally used in the processing of thermoplastic elastomers (two correct answers): (a) blow molding, (b) compression molding, (c) extrusion, (d) injection molding, or (e) vulcanization
Answers
The correct answers are (a) blow molding and (e) vulcanization. Blow molding is not typically used in the processing of thermoplastic elastomers (TPEs). Blow molding is a manufacturing process primarily used for shaping hollow plastic parts, such as bottles and containers, by inflating molten plastic into a mold cavity.
TPEs, being thermoplastic materials, can be processed using various methods, but blow molding is not commonly associated with TPEs. Vulcanization is also not typically used in the processing of TPEs. Vulcanization is a chemical process that involves the addition of sulfur or other cross-linking agents to rubber materials to enhance their properties and make them more durable. TPEs, on the other hand, are thermoplastic materials that do not require vulcanization. They can be melted and re-melted without significant changes in their properties, unlike vulcanized rubber. On the other hand, compression molding, extrusion, and injection molding are commonly used methods in the processing of thermoplastic elastomers. Compression molding involves placing a heated TPE material into a mold cavity and applying pressure to shape it. Extrusion involves forcing molten TPE through a die to create continuous profiles or shapes. Injection molding involves injecting molten TPE into a mold cavity under high pressure to produce complex parts.
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if a deed transferring legal title from one party to another is not recorded in the public record, which of the following statements is correct? a. the deed is valid b. the grantor gives up all rights to the property conveyed c. the transfer is not valid d. both a and b
Answers
If a deed transferring legal title from one party to another is not recorded in the public record, it does not invalidate the transfer of ownership. Therefore, option a, "the deed is valid," is correct. However, not recording the deed can have negative consequences for the grantee (the person receiving the property). The lack of recording may allow another person to unknowingly purchase the property or place a lien on it, creating a cloud on the grantee's title.
Additionally, not recording the deed may also affect the grantee's ability to prove ownership in court. Therefore, option b, "the grantor gives up all rights to the property conveyed," is not correct. In summary, the correct answer is option a, "the deed is valid," and option d, "both a and b," is not correct.
The correct statement regarding a deed transferring legal title from one party to another that is not recorded in the public record is: a. the deed is valid. While recording the deed provides protection and notice to the public, it is not necessary for the deed to be considered valid between the grantor and grantee.
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Aurora township is asking all of its citizens to chip in and donate money to build a new library. tommy thinks he already pays enough money in taxes, so he chooses not to donate. he knows that even if he does not contribute he will be able to use the library once it is built. This is an example of:
a. Adserve selection
b. The free rider problem
c. Asymmetric information
d. Tragedy of the commons
e. Moral hazard
Answers
Since Tommy knows that even if he does not contribute he will be able to use the library once it is built, this is an example of: B. The free rider problem.
What is the free rider problem?In Economics, the free rider problem can be defined as a type of market failure and burden that typically occurs when people who benefit from public goods (products) or shared resources refuse to pay for them or financially contribute to their development.
This ultimately implies that, a free rider problem simply refers to a type of problem that typically exists or arises when people who cannot be excluded from using a good (product) choose not to pay for it.
In this context, we can reasonably infer and logically deduce that the refusal of Tommy to donate money to build a new library because he knows he would be able to use it once it is built, is an example of the free rider problem.
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QUESTION 7 of 10: Which is NOT a use for market research?
a) Identifying what services customers want
Ob) Deciding what merchandise to sell
O c) Determining tax deductions
O d) Forecasting sales
Submit
Answers
Answer:
The answer would be b, determining tax deductions
Explanation:
All three of the other points are ways you can find out customers needs and wants, however tax deduction is used to figure out how much tax is owed.
In September, you made a profit of $5,456,963 with expenses of $2,456,654. What was your total revenue?
Answers
The total revenue when the profit and expenses are given so it should be considered as the $7,913,617.
Calculation of the total revenue:We know that
Profit is $5,456,963
And, expenses is $2,456,654
We know that
Profit = Revenue - Expenses
$5,456,963 = Revenue - $2,456,654
So, the revenue is
= $5,456,963 + $2,456,654
= $7,913,617
Hence, The total revenue when the profit and expenses are given so it should be considererd as the $7,913,617.
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1 To increase sales from their present annual $ 1. 5 million, ABC Company, a wholesaler, may try more liberal credit standards. Currently, the firm has an average collection period of 30 days’ but is considering increasing to 60 days’. The cost of sales is 75 per cent of sales and bad debts are 1 per cent of sales. Cost of sales comprises 80 per cent variable costs and 20 per cent fixed costs. The company finances working capital from an overdraft at a rate of 7 per cent per year. It belives that, with increasingly liberal credit standards, will increase sales by 15 per cent, while bad debts will increase from 1 per cent to 4 per cent of sales. Should ABC introduce the proposed policy?
Answers
ABC should not introduce the proposed policy.
The proposed policy for ABC Company to increase their average collection period from 30 days to 60 days involves more liberal credit standards. This means that customers will have a longer period to pay for their purchases, which may potentially increase sales.
To determine if ABC should introduce this policy, we need to consider the potential benefits and costs.
First, let's calculate the current sales for ABC Company. The annual sales are $1.5 million.
If ABC increases sales by 15 percent, the new sales will be $1.5 million + ($1.5 million * 15%) = $1.725 million.
Next, let's calculate the bad debts for the current and proposed policy.
The current bad debts are 1 percent of sales, which is $1.5 million * 1% = $15,000.
With the proposed policy, the bad debts will increase to 4 percent of sales, which is $1.725 million * 4% = $69,000.
Now, let's calculate the cost of sales for both scenarios.
The current cost of sales is 75 percent of sales, which is $1.5 million * 75% = $1.125 million.
With the proposed policy, the cost of sales will increase to $1.725 million * 75% = $1.293 million.
The cost of sales consists of 80 percent variable costs and 20 percent fixed costs.
Therefore, the variable costs for the current scenario are $1.125 million * 80% = $900,000.
And the variable costs for the proposed scenario are $1.293 million * 80% = $1.0344 million.
Finally, let's calculate the additional interest expense for the proposed policy.
The current working capital is financed through an overdraft at a rate of 7 percent per year.
Therefore, the additional interest expense for the proposed policy is ($1.725 million - $1.5 million) * 7% = $17,500.
To determine if ABC should introduce the proposed policy, we need to compare the benefits and costs.
The additional sales from the proposed policy are $1.725 million - $1.5 million = $225,000.
However, the additional bad debts are $69,000 - $15,000 = $54,000.
The additional variable costs are $1.0344 million - $900,000 = $134,400.
And the additional interest expense is $17,500.
Therefore, the total additional costs are $54,000 + $134,400 + $17,500 = $205,900.
Since the additional costs ($205,900) outweigh the additional benefits ($225,000), ABC should not introduce the proposed policy.
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Assume uber planned to cut losses by 40% by withdrawing from counties like china and singapore. A year has now passed since they have withdrawn and the company determines that losses have actually increased. Which step in the planning/control cycle does uber need to now execute?.
Answers
Consider a scenario in which Uber intended to reduce losses by 40% by leaving nations like China and Singapore. After a year has gone after their withdrawal, the business concludes that losses have increased. Uber must now carry out the planning/control cycle's control the direction phase.
control the direction was the goal. Even if operations were stopped in several nations, losses grew. To achieve its goal, Uber must manage the direction.
With the Driver app, you may control the direction to take you to your house, the store, or wherever else you need to go. The program then looks for other riders who are going in the same direction and who you might meet along the way.
How a company may meet these needs through planning and monitoring is covered in planning and control, which is also referred to as production. Production also refers to the control and planning processes.
In reality, Uber has reframed the problem. It was started in 2009 in order to deal with the planning and control issue of instantaneous transportation. Making transportation safer with autonomous vehicles is described as one of the challenges.
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cabin furniture has been in produced since the 1800s and continues to furnish rural homes. according to the product life cycle concept, it would be described as a ________.
Answers
According to the product life cycle concept, cabin furniture that has been produced since the 1800s and continues to furnish rural homes would be described as a "mature product."
The product life cycle concept suggests that products go through several stages: introduction, growth, maturity, and decline. In the introduction stage, a new product is introduced to the market. It then enters the growth stage, where sales and popularity increase rapidly. Afterward, the product reaches the maturity stage, where it has achieved widespread acceptance and stable sales. In the maturity stage, the product is well-established in the market, and its growth rate slows down.
In the case of cabin furniture, since it has been produced since the 1800s and still serves its purpose in rural homes, it suggests that the product is in the maturity stage.
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what type of testimony is inappropriate for a health information manager serving as custodian of the record when he or she is called to be a witness in court?
Answers
Personal opinion or speculation is inappropriate testimony for a health information manager serving as a witness in court.
As a custodian of the record, a health information manager has a professional duty to maintain and safeguard medical records.
When called to be a witness in court, their role is to provide accurate and objective information related to the medical records in question.
In this capacity, it is important for the health information manager to present factual and verifiable information based on their knowledge and expertise.
Testimony that involves personal opinions, biases, or speculation is considered inappropriate because it may introduce subjective and unreliable information into the legal proceedings.
The health information manager should focus on presenting facts, interpreting medical records within their scope of expertise, and providing context or clarification when required.
It is essential for the health information manager to maintain professional integrity and adhere to the ethical standards of their role as a custodian of the record.
By providing objective and reliable testimony, the health information manager can contribute to the fair and just resolution of the legal case while upholding the integrity of the healthcare information management profession.
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Peter has developed an app that focuses on connecting potential renters with owners of unoccupied holiday houses. His current monthly profit (in hundreds of dollars) for x hundred homeowners is given by
Peter’s technical skills are limited, and he is not able to expand the capability of his app to handle more than 300 house owners per month.
(a) Calculate the maximum profit that Peter can make each month.
(b) Find the points x ≥ 0 for which the second derivative of p(x) is 0.
(c) Find the point of diminishing returns for peter’s profit function.
Answers
Peter can maximize his profit by serving 144 homeowners each month.
(a) The profit function is given by:
P(x) = 15x - 0.03x^2 - 0.0001x^3
To find the maximum profit, we need to find the critical points of the profit function. Let's differentiate the profit function to find its derivative:
P'(x) = 15 - 0.06x - 0.0003x^2
To find the critical points, we set the derivative equal to zero and solve for x:
0 = 15 - 0.06x - 0.0003x^2
Rearranging the equation, we get a quadratic equation:
0.0003x^2 + 0.06x - 15 = 0
Now, we can solve this equation using the quadratic formula:
x = (-0.06 ± sqrt(0.06^2 - 4 * 0.0003 * -15)) / (2 * 0.0003)
Simplifying further, we have:
x = (-0.06 ± sqrt(0.0036 + 0.018)) / 0.0006
x = (-0.06 ± sqrt(0.0216)) / 0.0006
x = (-0.06 ± 0.1464) / 0.0006
x = (0.0864 / 0.0006) or (-0.2064 / 0.0006)
x = 144 or -344
Since we are considering x ≥ 0, the valid solution is x = 144.
To find the points x ≥ 0 for which the second derivative of p(x) is 0, we need to find the critical points of the second derivative.
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altimore baking is preparing its cash budget and expects to have sales of $30,000 in january, $35,000 in february, and $35,000 in march. if 20% of sales are for cash, 40% are credit sales paid in the month after the sale, and another 40% are credit sales paid 2 months after the sale, what are the expected cash receipts for march? a. $24,057 b. $36,300 c. $29,700 d. $26,730
Answers
The correct answer is $33,000.
what are the expected cash receipts for march?
According to the scenario, the given data are as follows:
Jan sales = $30,000
So, Amount collected in March of Jan. = 40% x $30,000 = $12,000
Feb sales = $35,000
So, Amount collected in March of Feb. = 40% x $35,000 = $14,000
Mar. sales = $35,000
So, March cash sales = 20% x $35,000 = $7,000
So, we can calculate the total cash receipts in march by using following formula:
Total cash receipts in march = Amount collected in March of Jan + Amount collected in March of Feb + March cash sales
= $12,000 + $14,000+ $7,000
= $33,000
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If you are applying for two different jobs, which of the these is true about the resumes you will turn
in to them?
you would turn in different resumes with different objective statements that match the different jobs you are
applying for
turn in identical resumes to both jobs
print them with different colored ink to keep from confusing them
Answers
Answer:
the first one ,you would turn in different resumes with different objective statements that match the different jobs you are
applying for
How do I find the first four terms?
Answers
Answer: 300, 350, 400, 450
Explanation:
a1 = first term = 300
d = common difference = 50
2nd term = a+d
= 300 + 50
= 350
3rd term = a + 2d
= 300 + 2(50)
= 300 + 100
= 400
4th term = a + 3d
= 300 + 3(50)
= 300 + 150
= 450
Therefore, the first four terms are 300, 350, 400, and 450.
A party can be discharged from a contract. Name eight ways thata party can be discharged.
Answers
A party can be discharged from a contract by impossibility of performance, breach of contract, rescission, frustration of purpose, operation of law and illegality.
1. Performance: The parties fulfill all the terms and conditions of the contract, and the contract comes to an end. A party is discharged from a contract when they have fully performed their contractual obligations.
2. Mutual agreement: Both parties agree to end the contract by mutual consent. Both parties may mutually agree to terminate the contract, thereby discharging their obligations.
3. Impossibility of performance: The performance of the contract becomes impossible due to unforeseeable events, such as war, natural disasters, or death of the parties involved.
4. Breach of contract: A party breaches the contract, and the non-breaching party can choose to terminate the contract. If one party breaches the contract, the other party can be discharged from their obligations.
5. Rescission: One party can request the court to rescind or cancel the contract due to misrepresentation, fraud, or mistake.
6. Frustration of purpose: The objective of the contract becomes meaningless due to unforeseeable events, such as a change in law or regulation.
7. Operation of law: The contract becomes illegal due to a change in the law, or the contract is declared void by the court. A party can be discharged by operation of law, such as bankruptcy, which makes it impossible for the party to fulfill their contractual obligations.
8. Illegality: If the subject matter of the contract becomes illegal or the contract itself is found to be against public policy, a party can be discharged from the contract.
By understanding these eight ways, you can better navigate the circumstances that may lead to a party being discharged from their contractual obligations.
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this is beth ross. her husband, matt, is deployed overseas on active duty in the navy. beth provides her driver's license and matt's passport card. beth also provides a military compliant power of attorney authorizing her to file a tax return and open bank accounts on matt's behalf. they will have a refund and will want a federal and state refund transfer direct deposited to pay for their fees. what steps do you need to complete in order to be in compliance?
Answers
The necessary measures must be taken in order to comply, and both Matt & Beth have valid identification documents and military powers of attorney allowing them to sign documents on his behalf.
A universal power of attorney gives your agent the freedom to represent you in any situation that is permitted by local law. This covers corporate, legal, financial, and health-related issues. Depending on your selections, general POAs may be durable or not. "General Attorney" & "Special (or limited) Attorney" are the two types of powers of attorney. When buying or selling a property, a power of attorney is not a legal document to transfer property titles. But in Indian cities, selling a home through an universal power of attorney is now a regular practise because of the financial advantages it offers to both the purchaser and the seller. The powers of lawyer (POA) is indeed a document that grants an agent certain powers.
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Which settlement option pay a stated amount to an annuitant but no residual value to a beneficiary
Answers
Answer:
Life income
Explanation:
Question 3 of 25
Which of the following statements best explains why some people get life
insurance and others don't?
A. Life insurance is a cost that has no direct benefit.
B. Some people have more than one life-insurance policy.
C. Different people are willing to face different kinds of risks.
D. Some life insurance companies go out of business before you die.
Answers
How do the specific goals of interest rate stability and
exchange rate stability differ in importance from the other
specific goals mentioned for central bankers?
Answers
The specific goals of interest rate stability and exchange rate stability differ in importance from other specific goals mentioned for central bankers due to their direct impact on the economy and monetary policy.
Interest rate stability refers to the objective of maintaining stable and predictable interest rates over time. Central banks aim to achieve this goal to provide certainty to businesses and households, encourage investment and lending, and promote overall economic stability. By managing interest rates, central banks can influence borrowing costs, inflation, and economic growth. Exchange rate stability, on the other hand, focuses on maintaining a stable value of a country's currency relative to other currencies. Central banks may intervene in the foreign exchange market to influence exchange rates and prevent excessive fluctuations. Exchange rate stability is crucial for international trade, investment, and economic confidence. It can affect export competitiveness, import costs, and capital flows.While the other specific goals of central bankers, such as price stability, full employment, and financial stability, are also important, interest rate stability and exchange rate stability have unique significance. They directly impact the cost of borrowing, investment decisions, and international trade, making them vital for economic stability and overall monetary policy effectiveness. Central banks carefully balance these goals to achieve their broader objectives of sustainable economic growth and stability.
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Credit card A is running a promotion where they will charge 0% interest for the first year, and then 0.8% compounded continuously after that. Credit card B has an interest rate of 0.5%, also compounded continuously. If you are going to make a $5000 purchase and plan to not make a single payment for 1.5 years, which credit card should you go with? Write the equation showing the total balance at the end of 1.5 years for that card. Card A, $5,020.04 = 5000 (0.008 (15-1}} (0.8*15+1) Card A, $5, 101.01 = 5000 el Card B, $10,585.00 = 5000 (05.15) e (0.005*1.5) Card B, $5,037.64 = 5000 el
Answers
Choose Credit Card A for a $5000 purchase with no payments for 1.5 years, as the total balance at the end will be approximately $5,020.04, lower than the balance with Credit Card B.
How to compare credit card offers?To determine which credit card is more advantageous for the $5000 purchase over a 1.5-year period, let's calculate the total balance at the end of that period for each card.
For Credit Card A:
The equation to calculate the total balance at the end of 1.5 years for Card A, assuming continuous compounding, is:
Total Balance = Principal * e^(rate * time)
Where:
Principal = $5000
Rate = 0.008 (0.8% expressed as a decimal)
Time = 1.5 years
Plugging in the values, we have:
Total Balance for Card A = 5000 * e^(0.008 * 1.5)
Total Balance for Card A ≈ $5,020.04
Therefore, the total balance at the end of 1.5 years for Credit Card A is approximately $5,020.04.
For Credit Card B:
The equation to calculate the total balance at the end of 1.5 years for Card B, assuming continuous compounding, is:
Total Balance = Principal * e^(rate * time)
Where:
Principal = $5000
Rate = 0.005 (0.5% expressed as a decimal)
Time = 1.5 years
Plugging in the values, we have:
Total Balance for Card B = 5000 * e^(0.005 * 1.5)
Total Balance for Card B ≈ $5,037.64
Therefore, the total balance at the end of 1.5 years for Credit Card B is approximately $5,037.64.
Comparing the two results, we can see that the total balance at the end of 1.5 years is lower for Credit Card A ($5,020.04) compared to Credit Card B ($5,037.64). Therefore, if you plan to make a $5000 purchase and not make any payments for 1.5 years, it would be more advantageous to choose Credit Card A.
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Mila invested $1,800 in a one-year CD earning 3.1% annual interest. How much interest will Mila earn?
Answers
Answer:
the interest mila earned for one year is $55.80.
I apologize if this is wrong I'm not super good with business
Seth Ames owns 1,000 shares of convertible preferred stock in the XYZ Corporation, with a current market price of $52.00 per share. The preferred stock is convertible to common stock at the rate of 2 shares of common for each share of preferred. After the end of the year, common stock was selling for $32 per share. What would be the current market value of his stock before and after a conversion?
a. $64,000
b. $6,400
c. $32,000
d. $52,000
e. None of the answers is correct
Answers
Seth Ames owns 1,000 shares of convertible preferred stock with a market value of $52,000 before conversion. After conversion, his common stock would have a market value of $64,000. The correct answer is A and D.
To calculate the current market value of Seth Ames' stock before and after conversion, we can use the following steps
Before conversion:
The market value of Seth Ames' preferred stock before conversion is calculated by multiplying the number of shares of preferred stock he owns by the current market price per share:
Market value before conversion = Number of shares of preferred stock * Current market price per share
Market value before conversion = 1,000 shares * $52.00 per share
Market value before conversion = $52,000
After conversion:
Since each share of preferred stock can be converted into 2 shares of common stock, Seth Ames would own 1,000 shares * 2 = 2,000 shares of common stock after conversion.
The market value of Seth Ames' common stock after conversion is calculated by multiplying the number of shares of common stock he owns by the current market price per share:
Market value after conversion = Number of shares of common stock * Current market price per share
Market value after conversion = 2,000 shares * $32.00 per share
Market value after conversion = $64,000
Therefore, the current market value of Seth Ames' stock before conversion is $52,000 (option d) and the current market value of his stock after conversion is $64,000 (option a).
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Which outcome is the most likely result of the government lowering taxes on
a particular good?
A. Supply of the good will decrease.
B. Supply of the good will increase.
C. Demand for the good will decrease.
D. Demand for the good will remain the same.
Answers
A financial charge or levy imposed on citizens by the government according to their income for various spending and funding are called taxes.
The outcome that is most likely to occur is:
Option B. Supply of the goods will increase.
The outcome can be explained as:
When the taxes are lowered consumers will buy more products which will increase the supply rate.While option A is incorrect as the supply will expand due to lower taxes.Demands by the purchasers and buyers will increase as the taxes have lowered that is it will be profitable for them to purchase goods.Thus, supply will increase.
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The August bank statement and cash T-account for Martha Company follow:
Date
August 1
August 2
August 3
August 4
August 5
August 9
August 10
August 15
August 21
August 24
August 25
August 30
August 30
August 31
August 1 Balance
Deposits
August 2
August 12
August 24
August 31
August 31 Balance
Checks
$340
440
290
970
350
440
22,300
830
Debit
BANK STATEMENT
Deposits
$ 12,600
4,200
7,300
Interest earned
Service charge
Cash (A)
18,330
12,600
4,200
7,300
5,200
Other
20,730
Checks written
340
440
290
350
970
330
610
830
440
22,300
$ 30
10
Balance
$ 18,330
17,990
30,590
30,150
29,860
28,890
28,540
32,740
32,300
10,000
17,300
16,470
16,500
16,490
Credit
August 1
August 2
August 3
August 4
August 5
August 15
August 17
August 18
August 19
August 23
No deposits were in transit and no checks were outstanding at the end of July