Manuel and Poornima White live in Swarthmore, PA. Poornima's father, Shen, lives in Sweden. For each of the following transactions, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment spending (I), government purchases (G), exports (X), or imports (IM).

a. A product’s inclusion in one category does not necessarily imply that it is excluded from other categories.
b. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house.
c. Poornima buys a new BMW, which was assembled in Germany.
d. Shen in Sweden orders a bottle of Vermont maple syrup from the producer's website.
e. Manuel's employer upgrades all of its computer systems using U.S.-made parts.
f. Poornima gets a new video camera that was made in the United States.

Answer:

a. The Federal Aviation Administration expands the runways at Philadelphia International Airport, which is just a few miles from Manuel and Poornima's house.

Identification: Government spending. This is the spending done by government in buying goods and services

b. Poornima buys a new BMW, which was assembled in Germany.

Identification: Imports. These are purchases by domestic consumers from foreign countries

c. Shen in Sweden orders a bottle of Vermont maple syrup from the producer's website.

Identification: Exports. These are purchases by foreign consumers from home countries

d. Manuel's employer upgrades all of its computer systems using U.S.-made parts.

Identification: Investment. It is a part of GDP if made in accumulation of capital and inventory

e. Poornima gets a new video camera that was made in the United States.

Identification: Consumption. This includes consumer's spending on durables and non-durable produced domestically.

Carla Vista Clinic purchases land for $480000 cash. The clinic assumes $4200 in property taxes due on the land. The title and attorney fees totaled $3200. The clinic had the land graded for $8100. What amount does Carla Vista Clinic record as the cost for the land?A. $476200 B. $470000. C. $484500 D. $478300.

Barney, a manager, is very conventional, resistant to change, habitual, and does not accept new ideas very easily.This implies that Barney has:________.
A) low neuroticism.
B) low customary thinking.
C) high extraversion.
D) high agreeableness.
E) low openness to experience.

Luther Industries has no debt, a total equity capitalization of $20 billion, and a beta of 1.8. Included in Luther's assets are $4 billion in cash and risk-free securities. What is Luther's enterprise value?

Pillar Company owns 70 percent of Salt Company's outstanding common stock. On December 31, 20x8, Salt sold equipment to Pillar at a price in excess of Salt's carrying amount but less than its original cost. On a consolidated balance sheet at December 31,20x8, the carrying amount of the equipment should be reported at:_______________ A) Pillar's original cost. B) Salt's original cost. C) Pillar's original cost less Salt's recorded gain. D) Pillar's original cost less 70 percent of Salt's recorded gain.

A consumer is currently spending all of her available income on two goods: music CDs and DVDs.At her current consumption bundle she is spending twice as much on CDs as she is on DVDs.If the consumer has $120 of income and is consuming 10 CDs and 2 DVDs,what is the price of a CD?
A) $4
B) $8
C) $12
D) $20

The market demand function for corn is Qd = 5 15 - 2P and the market supply function is Qs= 5P- 6, both quantities measured in billions of bushels per year. Suppose the government wants to raise the price to $4 per bushel. What are the aggregate surplus, consumer surplus, and producer surplus at the competitive equilibrium?

Strategic PlanningImagine that IBM has decided to diversify into the telecommunications business to provide online cloud-computing data services and broadband access for businesses and individuals. What method would you recommend that IBM pursue to enter this industry? Why?

The amount by which the overhead applied to jobs during a period exceeds the overhead incurred during the period is known as:_____________
a) Predetermined overhead.
b) Overapplied overhead.
c) Estimated overhead.
d) Adjusted overhead.
e) Underapplied overhead.

Talia Corp. produces digital cameras. For each camera produced, direct materials are $20, direct labor is $16, variable manufacturing overhead is $12, fixed manufacturing overhead is $28, variable selling and administrative expenses are $10, and fixed selling and administrative expenses are $24. Compute the target selling price assuming a 40% markup on total per unit cost. Target selling price

Penny, Inc. employs a process costing system. Direct materials are added at the beginning of the process. Here is information about July’s activities: ​On July 1:

Beginning inventories 850 units, 60% complete

Direct materials cost $5,000

Conversion costs $4,000

During July:

Number of units started 15,000

Direct materials added $155,000

Conversion costs added $83,520

On July 31:

Ending inventories 1,600 units, 40% complete ​ ​

Using the FIFO method and rounding cost per unit to four decimal places, the cost of goods completed and transferred out during July was:_________

Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had current assets of $145,332, net fixed assets of $356,190, and other assets of $4,176. The firm had long-term debt of $76,445, common stock of $200,000, and retained earnings of $134,461. What amount of current liabilities did this firm have?

a. $94,792
b. $410,906
c. $171,217
d. $76,445

Hollister Company amended its defined benefit pension plan at the beginning of 2020 and recognized prior service cost of $1,700,000.
The company has collected the following additional information for the year 2020:
Service cost $400,000
Interest on the PBO 190,000
Amortization of prior service cost 170,000
Actual and expected return on plan assets 110,000
Plan funding was $700,000
Benefit payments to retirees totaled $390,000
The net increase to the PBO for 2020 is:_________.
a. $ 770,000.
b. $ 1,900,000.
c. $ 1,730,000.
d. $ 650,000.

In constructing a common-size income statement, depreciation will be______. A. omitted since it is a noncash expense. B. expressed as a percentage of sales. C. added back to convert net income to cash flows. D. expressed as a percentage of total assets. E. expressed as a percentage of gross fixed assets.

Ramble On Co. wishes to maintain a growth rate of 8 percent a year, a debt-equity ratio of 0.37, and a dividend payout ratio of 54 percent. The ratio of total assets to sales is constant at 1.41. What profit margin must the firm achieve?

Green House operates a commercial plant nursery where it propagates plants for garden centers throughout the region.
Green House has $5,100,000 in assets. Its yearly fixed costs are $650,000​, and the variable costs for the potting​ soil, container,​ label, seedling, and labor for each​ gallon-size plant total $1.90.
Green House's volume is currently 500,000 units. Competitors offer the same​ plants, at the same​ quality, to garden centers for $4.25 each. Garden centers then mark them up to sell to the public for​ $9 to​ $12, depending on the type of plant.Read the requirements
Requirement 1.
Green House's owners want to earn an 11​% return on investment on the​ company's assets. What is
Green House​'s target full product​ cost?
Revenue at current market price ?
Less:Desired profit ?
Target full product cost ?
Requirement 2. Given Green House's current​ costs, will its owners be able to achieve their target​ profit? Begin by calculating Green House's current full product cost.
Current variable costs ?
Plus:Current fixed costs ?
Current full product cost ?
Requirement 3. Assume Green House has identified ways to cut its variable costs to $1.75 per unit. What is its new target fixed​ cost? Will this decrease in variable costs allow the company to achieve its target​ profit?Begin by calculating Green House's new target fixed cost.
Target full product cost ?
Less:Variable costs ?
Target fixed cost ?
Requirement 4.
Green House started an aggressive advertising campaign strategy to differentiate its plants from those grown by other nurseries.
Green House does not expect volume to be​ affected, but it hopes to gain more control over pricing. If Green House has to spend $145,000 this year to advertise and its variable costs continue to be $1.75 per​ unit, what will its​ cost-plus price​ be?
Begin by calculating the​ cost-plus price per unit. ​(Round your answer to the nearest​ cent.)
Current variable costs ?
Plus:Fixed costs ?
Full product cost ?
Plus:Desired profit ?
Target revenue ?
Divided by:Number of units ?
Cost-plus price per unit ?

What is the value of $1000 investment that loses 5% each year for eight years

One effective way to manage credit card debt is to:

A. exaggerate your income when applying for a credit card.

B. spend your entire credit limit before making any payments.

C. replace high-interest credit cards with low-interest options.

D. always pay only the minimum payment required each month.

The stockholders' equity of Gaulin Company at the start of the current year follows: Common stock, $ 5 par value, 350,000 shares authorized; 120,000 shares issued and outstanding $ 600,000 Paid-in capital in excess of par value 600,000 Retained earnings 346,000 During the current year, the following transactions occurred: Jan. 5 Issued 10,000 shares of common stock for $12 cash per share. Jan. 18 Purchased 4,000 shares of common stock for the treasury at $14 cash per share. Mar. 12 Sold one-fourth of the treasury shares acquired January 18 for $17 cash per share. July 17 Sold 500 shares of the remaining treasury stock for $13 cash per share. Oct. 1 Issued 5,000 shares of 8%, $22 par value preferred stock for $32 cash per share. This is the first issuance of preferred shares from the 50,000 authorized shares.
(a) Use the financial statement effects template to indicate the effects of each transaction. Use negative signs with answers, when appropriate.
Balance Sheet
Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital
Jan. 5 Answer Answer Answer Answer Answer Jan. 18 Answer Answer Answer Answer Answer Mar. 12 Answer Answer Answer Answer Answer July. 17 Answer Answer Answer Answer Answer Oct. 1 Answer Answer Answer Answer Answer Income StatementRevenue - Expenses = Net IncomeAnswer Answer AnswerAnswer Answer AnswerAnswer Answer AnswerAnswer Answer AnswerAnswer Answer Answer(b) Prepare the December 31, 2014, stockholders' equity section of the balance sheet assuming that the company reports net income of $65,800 for the year.Stockholders' EquityPaid-in capital 8% Preferred stock, $25 par value, 50,000 shares authorized, 5,000 shares issued and outstanding $Answer Common stock, $5 par value, 350,000 shares authorized; 260,000 shares issued Answer $AnswerAdditional paid-in capital Paid-in capital in excess of par value-preferred stock Answer Paid-in capital in excess of par value-common stock Answer Paid-in capital from treasury stock Answer AnswerTotal paid-in capital AnswerRetained earnings AnswerAnswerLess: Treasury stock (2,500 shares) at cost AnswerTotal Stockholders' Equity $ Answer

Landings Glassware Company issues $1,150,000 of 15%, 10-year bonds at 95 on February 28, 2019. The bonds pay interest on February 28 and August 31. The journal entry to record the issuance includes a ________.A. debit to Cash for $1,150,000 B. debit to Cash for $1,092,500 C. credit to Bonds Payable for $1,092,500 D. credit to Discount on Bonds Payable for $57,500

A company had inventory on July 1 of 5 units at a cost of $16 each. On July 2, they purchased 9 units at $28 each. On July 6 they purchased 5 units at $25 each. On July 8, 8 units were sold for $58 each. Using the LIFO periodic inventory method, what was the value of the inventory on July 8 after the sale?

The following transactions were selected from among those completed by Hailey Retailers in the current year:

Nov. 20 Sold two items of merchandise to Customer B, who charged the $460 (total) sales price on her Visa credit card. Visa charges Hailey a 1 percent credit card fee.
25 Sold 14 items of merchandise to Customer C at an invoice price of $3,400 (total); terms 2/10, n/30.
28 Sold 12 identical items of merchandise to Customer D at an invoice price of $8,040 (total); terms 2/10, n/30.
30 Customer D returned one of the items purchased on the 28th; the item was defective and credit was given to the customer.

Dec. 06 Customer D paid the account balance in full.
30 Customer C paid in full for the invoice of November 25.

Required:
a. Prepare the appropriate journal entry for each of these transactions. Do not record cost of goods sold.
b. Compute Net Sales.

The table below shows the weekly marginal cost (MC) and average total cost (ATC) for Buddies, a perfectly competitive firm that produces novelty ear buds in a competitive market. The market price of ear buds is $6.00 per pair. Buddies Production CostsQuantity of Ear Buds MC ATC ($) ($)5 - 80 2 515 2.45 4.1520 3.55 425 4 430 5.5 4.2535 6 4.540 8.5 5A. If Buddies wants to maximize its profits, how many pairs of ear buds should it produce?B. At the profit-maximizing quantity, what is the total cost of producing ear buds?C. If the market price for ear buds is $6 per pair, and Buddies produces the profit-maximizing quantity of ear buds, what is Buddies weekly profit?D. If the market price is $5.50 per pair, and Buddies produces the profit-maximizing quantity of ear buds, what is Buddies weekly profit?E. Buddies earns a normal profit whena. marginal cost equals average cost at the minimum of average cost.b. marginal cost equals average cost.c. marginal cost equals marginal revenue at the minimum of marginal cost.d. average cost equals average revenue at the minimum of average cost.

Why would a large publically traded corporation likely prefer issuing bonds as a way to raise new money as opposed to issuing more shares?
A. the rate of return the corporation promised will be more difficult to deliver
B. more shares will dilute the existing value of the stock, causing its market price to fall
C. the market will view the new share issue as a sign the company is in financial difficulty
D. issuing bonds is a more secure method for corporations to raise needed money

The portfolio with the lowest standard deviation for any risk premium is called the_______. A.efficient frontier portfolio B.CAL portfolio C.global minimum variance portfolio D.optimal risky portfolio

Where do the resources come from to continue to expand the production of watermelons

Read the information about 2 competing credit cards.
Credit card 1 would be the better option if the borrow:
A. Had major expenses in the first year.
B. Spent a lot of money in the second year.
C. Used the card regularly in the long term.
D. Carried a large balance in the long term.

A country has nominal GDP equal to $204.31 billion in 2018. The GDP deflator in 2018 has a value of 112.64. What was the value of real GDP, in billions of dollars. Round to two decimal places. If your answer is 3.2 billion then just enter 3.2.

Prepare an income statement (LO1-3)

Below are the account balances for Cowboy Law Firm at the end of December.

Accounts Balances

Cash $ 5,400

Salaries expense 2,200

Accounts payable 3,400

Retained earnings 3,900

Utilities expense 1,200

Supplies 13,800

Service revenue 9,300

Common stock 6,000

Required:

Use only the appropriate accounts to prepare an income statement.

COWBOY LAW FIRM

Income Statement

For the Period Ended December 31

Expenses:

Total expenses

Paradise Corporation Budgeted on an annual basis for it fiscal year. The following beginning and ending inventory levels (in units) are planned for next year. Beginning Inventory Raw materials 55,000 Finished goods 95,000 Ending inventory raw material 65,000 Finished goods 65,000. Three pounds of raw material are needed to produce each unit of finished product. If Paradise Corporation plans to sell 555,000 units during next year, the number of units it would have to manufacture during the year would be:________. a. 500,000 units b. 555,000 units c. 585,000 units d. 525,000 units.

What is the purpose of the FASFA4CASTER