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professor190 [17]
3 years ago
9

The new employee at Cork Manufacturing reported tp work and the employee reviewed the following information that was audited by

the CPA:
Cork Manufacturing
Consolidated Balance Sheet Worksheet
December 31, 20XX

Assets Total:

Cash.................................................................$600,000
Notes receivable.....................................$750,000
Investment company A.......................$800,000
Other assets................................................$900,000
Total assets.............................................$3,050,000

Liabilities and Equities

Accounts payable...............................$25,000
Notes payable.....................................$100,000
Common stock....................................$1,000,000
Retained earnings..............................$1,925,000
Total liabilities and equities.............$3,050,000

Note to Accountant: This statement was prepared in accordance to GAAP


Which of the following described the role of the new employee
a) Managerial accountant
b) Financial accountant
c) CEO
d) Manager—financial analysis
Business
1 answer:
dexar [7]3 years ago
3 0

Answer:

The correct answer is D

Explanation:

In this case, the new employee who reported to work, was given the responsibility to perform the review of the information on the balance sheet which was audited by the CPA.

So, here the role of new employee is described as the manager- financial analysis, who is responsible for the financial health of the organization or business, reviewing the financial data as well.

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In Macroland, currency held by the public is 2,000 econs, bank reserves are 300 econs, and the desired reserve/deposit ratio is
kotegsom [21]

Answer:

the money supply in Macroland will increase from <u>5,000</u> econs to <u>7,000</u> econs

Explanation:

Currently, Macroland's money supply = 2,000 econs held by the public and 3,000 econs held by the banks (= 300 econs x 1/0.1).

In order to determine the increase in the money supply we must multiply the inflow of econs by the money multiplier. The money multiplier = 1 / reserve ratio = 1/0.1 = 10.

Since the government is injecting 200 econs to the economy, the increase in the money supply = 200 econs x 10 = 2,000 econs.

So now, Macroland's money supply will increase from 5,000 to 7,000 econs.

The money multiplier measures the banking system's ability to "create" money. The banking system creates money by first receiving deposits, e.g. you deposit 10 econs in your savings account, and then lending money to another client. The bank will lend 9 econs (-10% required reserve) to John that will purchase a bike. The seller of the bike receives the money form John and deposits the 9 econs in his own bank. Then this second bank will lend 8.10 econs to Sarah. Sarah will use the money to purchase a new computer and a printer from Tom. Tom then deposits the money in his bank, and then his bank lends 7.29 econs to Sally, and the wheel goes on and on.

This money creating process is possible because Macroland uses a fractional banking system, which means that the banks are only required to keep a fraction of total deposits as reserves.

7 0
3 years ago
EB13.
damaskus [11]

Answer:

Product                  Selling price   Unit variable cost

                                       $                        $

Trunk switch                  60                     28

Gas door switch            75                      33

Glove box light              <u>40</u>                     <u> 22</u>

                                      <u> 175 </u>                   <u> 83</u>

Composite contribution margin

= Composite selling price - Composite unit variable cost

= $175 - $83

= $92

Composite contribution margin ratio

= <u>Composite contribution margin</u>

  Composite selling price

= <u>$92</u>

  $175

= 0.525714285

Composite break-even point in dollars

= <u>Fixed cost</u>

  Composite contribution margin ratio

=<u> $18,840</u>

  0.525714285

=  $35,837

Explanation:

In this case, there is need to add all the selling prices to obtain composite selling price. We also need to add all the unit variable costs to derive composite unit variable cost.

Composite contribution equals composite selling price minus composite unit variable cost.

Composite contribution margin ratio is the ratio of composite contribution to composite selling price.

Composite break-even point in dollars equal fixed cost divided by composite contribution margin ratio.

3 0
3 years ago
The demand for a new computer game can be modeled by p (x )equals 48.5 minus 5 ln x​, for 0less than or equalsxless than or equa
Hoochie [10]

Answer:

a. R(x) = 48.5x - x5inx

b. R'(x) = 43.5 - 5lnx

c. The correct option is d. Yes, because the revenue will be maximized when R'(x)=0. The price to the consumer would be <u>$5</u>.

Explanation:

Given:

p(x) = 48.5 - 5lnx, for 0 ≤ x ≤ 800 ............. (1)

a. Find R(x).

R (x) = x * p (x) ........................ (2)

Substitute equation (1) into (2), we have:

R(x) = x(48.5 - 5lnx)

R(x) = 48.5x - x5inx .............................. (3)

Equation (1) is the R(x) required to be found.

b. Find the marginal revenue, R'(x)

The derivative of equation (3) is taken to obtain R'(x) as follows:

R'(x) = 48.5 - 5lnx - x5(1/x)

R'(x) = 48.5 - 5lnx - 5

R'(x) = 48.5 - 5 - 5lnx

R'(x) = 43.5 - 5lnx ...................... (4)

Equation (4) is the marginal revenue, R'(x), required to found.

c. Is there any price at which revenue will be maximized? Why or why not? Choose the correct answer below.

Profit is maximized when R'(x) = 0

Equating equation (4) to 0 and solve for x, we have:

43.5 - 5lnx = 0

43.5 = 5lnx

5lnx = 43.5

lnx = 43.5 / 5

x = e^(43.5 / 5)

x = 6,002.91

Substituting x = 6,002.91 into equation (1), we have:

p(x) = 48.5 - (5 * ln(6,002.91))

p(x) = 48.5 - (5 * 8.70)

p(x) = 48.5 - 43.5

p(x) = $5

Therefore, the correct option is d. Yes, because the revenue will be maximized when R'(x)=0. The price to the consumer would be <u>$5</u>.

5 0
2 years ago
At December​ 31, 20X1, Suiza Inc. had​ $1,250,000 in assets and​ $630,000 in liabilities. For the year ended December​ 31, 20X1,
Bingel [31]

Answer:

Option (A) is correct.

Explanation:

On January 1st,

Total assets = Total liabilities + share holders equity

                    = 640,000 + 580,000

                    = 1,220,000

On December 31st,

Total assets = Total liabilities + share holders equity

                    = 630,000 + 620,000

                    = 1,250,000

Retained earnings closing = share holders equity increases - common stock issued

                                            = (620,000-580,000) - 10,000

                                            = 40,000 - 10,000

                                            = 30,000

Retained earnings closing = Net income - Dividend declared

30,000 = $45,000 - Dividend declared

Dividend declared = $45,000 - $30,000

                               = $15,000

7 0
3 years ago
A fee charged by a mutual fund company when selling a mutual fund is
alexandr402 [8]

Answer: back end load

Explanation:

It just is

3 0
3 years ago
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