The skill you’re focusing on this week is:


Answer 1

could you explain some more please

Related Questions

Some persons are counted as out of the labor force because they have made no serious or recent effort to look for work. However, some of these individuals may want to work even though they are too discouraged to make a serious effort to look for work. If these individuals were counted as unemployed instead of out of the labor force, then a. both the unemployment rate and labor-force participation rate would be higher. b. the unemployment rate would be higher ,and the labor-force participation rate would be lower. c. the unemployment rate would be lower, and the labor-force participation rate would be higher. d. both the unemployment rate and labor-force participation rate would be lower.
The adjusted trial balance of Ryan Financial Planners appears below.RYAN FINANCIAL PLANNERSAdjusted Trial BalanceDecember 31, 2014 Debit Credit Cash $2,660 Accounts Receivable 2,140 Supplies 1,850 Equipment 15,900 Accumulated Depreciation-Equipment $ 3,975 Accounts Payable 3,310 Unearned Service Revenue 3,205 Common Stock 10,000 Retained Earnings 4,510 Dividends 1,000 Service Revenue 4,300 Supplies Expense 410 Depreciation Expense 2,420 Rent Expense 2,920 $29,300 $29,300 Using the information from the adjusted trial balance, you are to prepare for the month ending December 31:1. An income statement.2. A balance sheet.3. A retained earnings statement.
Barton's Taco Tico has four taco makers and ten other employees who take orders from customers and perform other tasks. The four taco makers and the other employees are paid an hourly wage. How would you classify (1) the wages paid to the taco makers and other employees and (2) materials (e.g., cheeses, salsa, tomatoes, lettuce, taco shells, etc.) used to make the tacos?A Fixed Cost Fixed B Fixed Cost Variable C Variable Cost Fixed D Variable Cost VariableA) Choice C B) Choice D C) Choice A D) Choice B
On October 1, Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.)
Johnson Enterprises uses a computer to handle its sales invoices. Lately, business has been so good that it takes an extra 3 hours per night, plus every third Saturday, to keep up with the volume of sales invoices. Management is considering updating its computer with a faster model that would eliminate all of the overtime processing.Current Machine New Machine Original purchase cost $15,230 $25,080 Accumulated depreciation $ 6,800 _ Estimated annual operating costs $24,950 $19,560 Useful life 5 years 5 years If sold now, the current machine would have a salvage value of $8,490. If operated for the remainder of its useful life, the current machine would have zero salvage value. The new machine is expected to have zero salvage value after 5 years.Prepare an incremental analysis. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

An investment has the following characteristics:ATIRRP: After-tax IRR on total investment in the property: 9.0%BTIRRE: Before-tax IRR on equity invested: 17%BTIRRP: Before-tax IRR on total investment in the property: 12%t: Marginal tax rate: 0.40What would be the break-even interest rate (BEIR), at which the use of leverage neither favorable nor unfavorable? (A)(A) 15.0%(B) 20.0%(C) 22.5%(D) 28.3%



Option (A) is correct.


Given that,

After-tax IRR on total investment in the property = 9.0%

Before-tax IRR on equity invested = 17%

Before-tax IRR on total investment in the property = 12%

t: Marginal tax rate = 0.40

Break Even Interest rate (neither favorable nor unfavorable):

= After tax IRR on total investment ÷ (1 - Tax rate )

= 9% ÷ (1 - 0.40)    

= 9% ÷ 0.60

= 15%

How would the issuance of a mortgage note in exchange for a building be reported on the statement of cash flows? A. Noncash finenctng and Investing actvity
B. Investing actvity
C. Operating activity
D. Financng activity



A. Noncash financing and Investing activity


The Cash Flow Statement records all Cash related transactions and used to determine the movement in the Balance of Cash and Cash Equivalent. When mortgage note is issued in exchange of a building, this is simply an Exchange of Assets without the movement of cash. Non - Cash activities are not shown in the Cash Flow Statement.

A recent study about online shopping asked respondents to indicate their education level on the following scale "Less than High School, " "High School, " "Some College, " "College+". Which of the following statements is (are) I. Education level is a categorical variable.II. Education level is nominal scaled.III. Education level is ordinal scaled. A. I onlyB. III onlyC. Both I and IIID. Both I and III



C. Both I and III.


The education level is categorical variable and is ordinal scaled.

Ordinal level is a second level statistical measurement technique. It allows ranks to the data for its categorization and degree of variation is not determined between data.  Education level is ordinal scale because it provides orders of quantitative data.

On June 10, Marin Company purchased $8,400 of merchandise from Cullumber Company, on account, terms 3/10, n/30. Marin pays the freight costs of $380 on June 11. Goods totaling $500 are returned to Cullumber for credit on June 12. On June 19, Marin Company pays Cullumber Company in full, less the purchase discount. Both companies use a perpetual inventory system.Prepare separate entries for each transaction on the books of Cullumber Company



                                                       Debit            Credit

June 10   Accounts Receivables        $8400

               Merchandise                                        $8400

June 12    Merchandise                     $500

               Accounts Receivables                             $500

June 19    Cash                                  7663

               Discount                             237

               Accounts Receivables                            $7900


Final answer:

The transactions in Cullumber's books include sales revenue, accounts receivable, sales returns and allowances, and finally a cash entry alongside sales discounts when Marin pays the balance due.


The transactions on the books of Cullumber Company would be recorded as follows:

  1. On June 10, Marin Company purchases $8,400 worth of goods. In the books of Cullumber, this would be recorded as: Accounts Receivable - Marin Company $8,400andSales Revenue $8,400
  2. On June 11, Marin pays freight costs of $380. This has no effect on the entries in the books of Cullumber Company.
  3. On June 12, Goods totaling $500 are returned by Marin. This would be recorded as: Sales Returns and Allowances $500 and Accounts Receivable - Marin Company $500
  4. On June 19, Marin pays off the balance less the purchase discount. The payment can be recorded as: Cash $7,621, Sales Discounts $279 and Accounts Receivable – Marin Company $7,900. The sales discount is (3% of $8400-$500) = $279.

Learn more about Business Transactions here:


Oriole Company has collected the following information related to its December 31, 2017, balance sheet.Accounts receivable $16,000
Accumulated depreciation—equipment 46,700
Cash 11,000

Equipment $173500
Inventory 64,500
Supplies 5,000

Prepare the assets section of Oriole's balance sheet.



Oriole Company

Assets side of the Balance Sheet:


Current Assets:

Cash                               $11,000

Accounts Receivable      16,000

Supplies                           5,000

Inventory                       64,500           $96,500

Non-current assets:

Equipment                 $173,500

less acc. depreciation   47,700          $125,800

Total Assets                                      $222,300


The assets side of the balance sheet is usually prepared in the order of liquidity, starting with the most liquid assets, Cash in the Current Assets subsection, or working capital for running the operations of the business.  It ends with the most illiquid assets called non-current assets, which form the core resources of the entity in generating revenue.  The accumulated depreciation is subtracted from the non-current assets to obtain the net non-current or fixed assets value.

The Carbondale Hospital is considering the purchase of ambulance. The TheXarbondale Hospital is considering the purchase of ambulance. The decision will rest partly on the anticipated mileage" be driven next year. The miles driven during the past 5years are as follows:
Year Mileage
1 3000
2 4000
3 3400
4 3800
5 3700
a) Forecast the mileage for next year using a 2-year moving average.
b) Find the MAD based on the 2-year moving average forecast in part (a), (Hint: You will have only 3 years of matched data.)
c) Use a weighted 2-year moving average with weights of .4 and .6 to forecast next year's mileage. (The weight of .6 is for the most recent year.) What MAD results from using this approach to forecasting? (Hint: You will have only 3 years of matched data.)
d) Compute the forecast for year 6 using exponential smoothing, an initial forecast for year 1 of 3,000 miles, and a = .5.




A) using 2-year moving average :

Year 6 : (3800 + 3700) = 7500 / 2 = 3750

2) Mean absolute deviation based on the forecast above :

(3000 + 4000) = 7000/2 = 3500

(4000 + 3400) = 7400/2 = 3700

(3400 + 3800) = 7200/2 = 3600



3400 __3500__100



Mean absolute deviation = (100 + 100 + 100) /3 = 300/3 = 100

C) weight of 0.4 and 0.6

(0.4*3000 + 0.6*4000) = 3600

(0.4*4000 + 0.6*3400) = 3640

(0.4*3400 + 0.6*3800) = 3640



3400 __3600__200



(200 + 160 + 60) = 420 / 3 = 140

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