Answer:
Ernesto's payoff will be zero and Timothy's payoff will also be zero.
Explanation:
Ernesto and Timothy are involved in a game of rock, paper, scissors.
If a player wins his payoff is 1. If a player loses his payoff is -1.
If both players tie their payoff is 0.
Here, both Timothy and Ernesto chose paper. So, there will be a tie between them.
Thus, both of them will have zero as a payoff.
Answer:
Jules can rescind the contract on the basis of fraud.
Explanation:
Since Garland misrepresented the material facts about the restaurant, that constitutes fraud.
When a party involved in a contract is purposefully dishonest with the other parties while making or performing a contract, it is called contract fraud. Contract fraud also occurs when a party intentionally misrepresents the material facts concerning the contract.
Answer:
The answer is $65,382.03
Explanation:
The payment is quarterly, meaning, the interest will be paid 4 times in a year
N(Number of periods) = 88 times ( 22years x 4)
Interest rate = 0.83percent
PV(present value or market price) = ?
Annuity = $1,050
We are using a Financial calculator for this.
N= 88; I/Y = 0.83; PMT = 1.050; CPT PV= -65,382.03
Therefore, the market price of the bond is $65,382.03
Answer:
FIFO= $2,580
LIFO= $2,325
Explanation:
Giving the following information:
(1) 155 units at $7
(2) 410 units at $8
(3) 100 units at $9.
Assuming there are 310 units on hand.
FIFO (first-in, first-out) method:
Ending inventory= last units purchased
Inventory= 100*9 + 210*8= $2,580
LIFO (last-in, first-out)
Inventory= first units purchased
Inventory= 7*155 + 8*155= $2,325
Answer:
1. Accounts Receivables Turnover Ratio = Net Credit Sales/Average Accounts Receivables = 400,000 / (51000 + 61000)/2
= 400,000/56,000
= 7.1 times
Inventory Turnover Ratio = Cost of Goods Sold/Average Inventory = (Sales-Gross Profit)/Average Inventory = (400,000 - 35% * 400,000) / (67000 + 46000)/2
=400,000 - 140,000 / 56,500
= 260,000 / 56,500
= 4.6 times
2. Average Days to Collect Receivables = 365/7.1 = 51.40 or 52 days
Average Days to Collect Inventory = 365/4.6 = 79.34 days
