Answer:
A) Lanni takes out a bank loan. It receives $50,000 in cash and signs a note promising to pay back the loan over three years. FINANCIAL ASSET CREATED: when the loan was received, a financial asset was created. Money is exchanged for a promissory note.
B) Lanni uses the cash from the bank plus $20,000 of its own funds to finance the development of new financial planning software. REAL ASSET CREATED: when the software was developed, a real asset was created. Money was invested in developing the software.
C) Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name. Lanni accepts payment in the form of 1,500 shares of Microsoft stock. FINANCIAL ASSET CREATED: when the software was traded, a financial asset was created. A real asset was traded in exchange for financial assets.
D) Lanni sells the shares of stock for $80 per share and uses part of the proceeds to pay off the bank loan." FINANCIAL ASSET DESTROYED: when the loan is paid back, the financial asset (loan) ceases to exist. When the money is paid back to the bank, the loan and the promissory note cease to exist.
Answer:
$378,000
Explanation:
average weekly demand 70 per distribution center
average shipment size to each distribution center is 450
average lead time 3 weeks
each distribution center has a 3 week safety stock
pipeline inventory: average lead time x average demand per distribution center x average price of each modem x number of distribution centers = 3 weeks x 70 units x $360 x 5 = $378,000
pipeline inventory in transit = $378,000
The pipeline inventory represents the minimum average that the company needs to have to at least meet the weekly demand for its product.
Options:
Yes, Joe is an agent who has that authority.
No, Joe is an employee, but the employee does not have that authority.It depends whether Joe signed a written contract for his employment.
Yes, Joe is an employee.
No, not unless he possesses authority from the principal because Joe is an independent contractor.
Answer:No, not unless he possesses authority from the principal because Joe is an independent contractor
Explanation: An independent contractor is a third party engaged by a principal to transact certain specific jobs or accomplish a certain task on his behalf. An independent contractor does not have any power or authority to represent his or her principal especially when he or she is not authorized to do that on behalf of the principal.
JOE DOESN'T HAVE THE POWER OR AUTHORITY TO ENTER INTO ANY CONTRACT OR AGREEMENT WITH ANOTHER ENTITY FOR HIS PRINCIPAL EXCEPT WHEN GIVEN THE AUTHORITY TO DO SO.
Answer:
The overhead for the year was $130,075
Explanation:
GIVEN INFORMATION -
ESTIMATED ACTUAL
Manufacturing overhead $132,440 $128,600
Machine hours 2800 2750
Here for calculating the overhead for the year we will use the following formula =
\frac{Estimated Manufacturing Overhead}{Estiamted Machine Hours}\times Actual Machine Hours
= \frac{\$132,440}{2800}\times 2750
\$47.3\times 2750 = \$130,075
Therefore the overhead for the year was $130,075
