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2 years ago

The government regulates financial markets for two main reasons:

Business

1 answer:

mart [117]2 years ago

8 0

B. to improve control of monetary policy and to increase the information available to investors

C. To ensure that financial intermediaries do not earn more than the normal rate of return and to improve control of monetary policy

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Cortina Company accumulates the following adjustment data at December 31. Indicate (1) the type of adjustment (prepaid expense,

romanna [79]

Answer:

Cortina Company

Indication of the type of adjustment and the status of the accounts before the adjustment:

Type of adjustment (prepaid Status of the accounts before the

expense, accrued revenue, etc.) adjustment:

a. Usage adjustment Supplies Overstated by $1,200

b. Accrued Revenue Service Revenue understated by $700

c. Accrued Expense Interest Expense understated by $300

d. Earned Revenue Rent Revenue understated by $1,100

and Deferred Revenue overstated by

the same amount.

Explanation:

Cortina Company must recognize all revenue and expenses, whether cash has exchanged hands or not, provided they have been earned or incurred within the stated accounting period. This is in accordance with the accrual concept and the matching principle of generally accepted accounting principles.

5 0

3 years ago

Units Unit Cost Inventory, Jan. 1 8,000 $11 Purchase, June 19 13,000 12 Purchase, Nov. 8 5,000 13 If 9,000 units are on hand at

Lostsunrise [7]

Answer:

The answer is: $100,000

Explanation:

Under LIFO (last in, first out) costing method, we use the oldest costs are used to determine the ending inventory:

We were given the following data:

Jan. 1: 8,000 purchased at $11 per unit
June 19: 13,000 purchased at $12 per unit
Nov. 8: 5,000 purchased at $13 per unit

If the ending inventory had 9,000 units, then its total cost is:

Ending inventory = (8,000 units x $11 per unit) + (1,000 units x $12 per unit)

Ending inventory = $88,000 + $12,000 = $100,000

3 0

3 years ago

"The gross earnings of factory workers for Dinkel Company during the month of January are $400,000. The employer's payroll taxes

Zepler [3.9K]

Answer and Explanation:

The Journal entry is shown below:-

Factory labor Dr, $480,000

To Factory wages payable $400,000

To Employee payroll taxes payable $80,000

(Being factory labor cost is recorded)

Here we debited the factory labor as it increased the expenses and we credited the factory wages payable and employee payroll taxes payable as it also increased the liabilities

3 0

2 years ago

If the Japanese production function is Cobb–Douglas with capital share 0.3, output growth is 3 percent per year, depreciation is

miss Akunina [59]

Answer: The saving rate is 0.30

Explanation:

The Golden Rule savings rate is referred to as the rate of savings which maximizes steady state level or growth of consumption.

Let k be the capital/labour ratio (i.e., capital per capita), y be the resulting per capita output ( y = f(k) ), and s be the savings rate. The steady state is referred to as a situation in which per capita output is unchanging, which implies that k be constant. This requires that the amount of saved output be exactly what is needed to one quip any additional workers and two replace any worn out capital.

In a steady state, therefore: sf(k)=(n+d)k

Growth rate of output =3%

Depreciation rate= 4%

Capital output ratio is (K/Y)

= 2.5

Begin the steady state condition:

S= ( σ + n + g) (k/Y)

S= (0.03+0.04) (2.5)

S= 0.175

Golden rule steady state

MPK= (0.03+0.04)= 0.07

Capital output ratio=

K/Y= Capital share / MPK

K/Y= 0.3/0.07

K/Y= 4.29

In the golden state, the capital output ratio is equal to 4.29 in comparison to the current capital ratio 2.5.

The saving rate consistent with the steady growth rate

S= ( σ + n + g) (k/Y)

S= (0.03 +0.04) (4.29)

S= 0.30

The saving rate that is consistent with the steady growth rate is 0.30

6 0

3 years ago

Nile Corp. has identified three cost pools to allocate overhead costs. The following estimates are provided for the coming year:

True [87]

Answer:

Overheads cost allocated to Mossman Job = $449

Explanation:

We have been provided the cost of each activity and their respective drivers.

There are three activities

Supervision of Direct Labor = $304,000 for 760,000 labor hours

Machine Maintenance = $153,600 for 960,000 hours

Facility rent = $165,000 for 110,000 square feet

Activities of Mossman Job and respective costs will be as follows:

Supervision of Direct Labor = $304,000/760,000 X 260 labor hours = $104

Machine Maintenance = $153,600/960,000 X 1,500 = $240

Facility Rent = $165,000/110,000 X 70 = $105

Net Overheads cost allocated to Mossman Job = $104 + $240 + $105 = $449

6 0

2 years ago