The concept of brainstorming as a function of group decision-making was initially developed to:

Mike’s Motors Corp. manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. I

Stolb23 [73]

Answer:

Mike's Motors Corp.

Cash Budget for July, August, and September:

July August September Total

Beginning balance $32,000 $30,000 $30,000 $32,000

Cash receipts 83,000 109,000 148,000 340,000

Bank borrowings 26,000 0 0 26,000

Total receipts 141,000 139,000 178,000 $398,000

Cash Payments 111,000 97,900 125,400 334,300.00

Interest 520 308.40 828.40

Loan repayment 10,580 15,420 26,000.00

Total payments 111,000 109,000 141,128.40 361,128.40

Minimum cash balance 30,000 30,000 36,871.60 36,871.60

Explanation:

a) Data and Calculations:

Cash Receipts Cash Payments

July $ 83,000 $ 111,000

August 109,000 97,900

September 148,000 125,400

Minimum cash balance = $30,000

Interest on borrowings = 2% per month

July ending:

Borrowing to maintain minimum cash balance = $26,000

Interest for August = $520 ($26,000 * 2%)

August ending:

Loan balance = $15,420 ($26,000 - $10,580)

Interest for September = $308.40 ($15,420 * 2%)

8 0

2 years ago

Danita rescues dogs from her local animal shelter. when danita's income rises by 7 percent, her quantity demanded of dog biscuit

Anna007 [38]

Answer:

The income elasticity of demand for dog biscuits is Option D: positive, and dog biscuits are a normal good.

Explanation:

'Income elasticity of demand' refers to the reaction of the demand in quantity for a good or service to that of change in income.

'Normal goods' are the goods that are related positively with income whereas 'inferior goods' are those goods which are related negatively with income. As the income increases, there is a rise in demand for the dog biscuits. This means the dog biscuits are normal goods. Income elasticity for demand is positive for Danita as it is because of the rise in income. Hence, Option D is the most appropriate.

6 0

3 years ago

Shamrock, Inc. purchases land for $490000 cash. The clinic assumes $5300 in property taxes due on the land. The title and attorn

Leviafan [203]

Answer:

$504,300

Explanation:

The total cost of the land that Shamrock Inc. purchased has to include:

the actual price paid for the land: $490,000
legal fees and real estate commissions: $2,600
taxes due and permits, zoning fees, etc: $5,300
site preparation (includes land grading): $6,400

The total cost of the land is: $504,300

3 0

3 years ago

Financial statements of a manufacturing firm The following events took place for Rushmore Biking Inc, during February, the first

pentagon [3]

Answer and Explanation:

The Preparation of income statement is prepared below:-

Rushmore Biking Inc.

Income statement

For the month ended February 28

Particulars Amount

Revenues $7,30,300

Less: Cost of goods sold $4,41,400

Gross profit $2,88,900

Selling and administrative expenses:

Selling expenses $1,48,500

Administrative expenses $72,200

Less: Total Selling and administrative

expenses $2,20,700

Income from operations $68,200

3 0

3 years ago

On its first day of trading, Twitter closed at $41.57 per share. Two years later and the price was $26.85, what was the annual r

Mkey [24]

Answer:

B. -21.85%.

Explanation:

Calculation for the annual return on the stock

First step is to calculate the Number of periods

Number of periods = 2 * 365 days in a year

Number of periods= 730

Second Step is to calculate the Daily return using this formula

Daily return = (Future value / initial value)^1/n - 1

Let plug in the formula

Daily return = (26.85 / 41.57)^1/730 - 1

Daily return = (0.645898)^1/730 - 1

Daily return = 0.999401 - 1

Daily return = -0.00059861*100

Daily return = -0.059861%

Last step is to calculate annual return

Using this formula

Annual return=Daily return/ Numbers of days in a year

Annual return = -0.059861% * 365

Annual return = -21.85%

Therefore the annual return on the stock if returns are compounded daily will be 21.85%

8 0

2 years ago