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A company reports net income of $48,000 for the year ended 12/31. The company is required to sell its inventory for 20% more than its cost to earn a net income of $48,000. The ending inventory balance is $15,000. Beginning inventory was $8,000. How much did the company understate net income for the current year? a) $2...
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Calculate the producers' surplus for the supply equation at the indicated unit price {eq}\bar{p} {/eq}. (Round your answer to the nearest cent.) {eq}p = 20 + q; \bar{p} = $40 {/eq}
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I need to show that $\langle10,14\rangle=\langle2\rangle$ in $\mathbb{Z}$. I have shown that $2|(10-14)$ so $2\in \langle10,14\rangle \subseteq\langle2\rangle$. How do I show that $\langle2\rangle \subseteq \langle10,14\rangle$?
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Which of the following is not an annuity? A. An interest - only mortgage. B. An amortizing loan. C. Both. D. Neither.
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The common stock and debt of Northern Sludge are valued at $65 million and $35 million, respectively. Investors currently require a return of 17.3% on the common stock and 7.5% on the debt. If Northern Sludge issues an additional $13 million of common stock and uses this money to retire debt, what happens to the expect...
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McGwire Company would like to expand its operation by borrowing funds to finance the purchase of new equipment and a new store. The equipment costs $200,000 and the store would cost $300,000. The company currently has a bank loan of $300,000 outstanding at an interest rate of 4% and in the past has generally paid its i...
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Bailie Industries has net income of $42,000, a tax rate of 35 percent, and its assets are $580,000. If it currently has 20,000 shares of common stock outstanding and no preferred stock, what is its current P/E ratio? 13.16 7.14 10.18 6.92 11.39
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For the multiple regression model {eq}Y=40+3X_1-10X_2+X_1X_2{/eq} if X1 were to increase by 40 units, holding X2 constant , the value of Y would be expected to increase by?
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Titan Football Manufacturing has the opportunity to purchase equipment that will reduce labor costs associated with producing 10,000 footballs per year. The equipment has a predictable life of 3 years and will have a salvage value of $4,000 at the end of its life. The machine will cost $33,000 and the company anticipat...
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We are evaluating a project that costs $623,540, has an expected life of 12 years, and has no salvage value. Assume that the discount rate is 15 percent and that the project's cash flows are the following: $111,208 in year 1, $135,076 in year 2, $166,511 in year 3, $197,709 in year 4, $238,084 in year 5, $298,715 in ye...
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How long will it take for a randomly selected customer to buy a policy, on average, if 30% of customers buy a policy in their first contact with a salesperson and customers who do not buy a policy on their first contact have a probability of 0.30 of buying a policy in their second contact and 0.40 of buying a policy in...
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What is the pH of a solution prepared by mixing 90.0 mL of 0.10 M HC{eq}_2 {/eq}H{eq}_3 {/eq}O{eq}_2 {/eq} with 135 mL of 0.58 M NaOH?
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A firm currently has $610,000 of tax-deductible debt outstanding with a required rate of return of 8%. It has $2,410,000 of equity (0% cost of equity) and a tax rate of 35%. If it increases its debt-equity ratio to 2, what will be its new WACC?
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Suppose the spot exchange rate for the Canadian dollar is Can$1.44 and the one-year forward rate is Can$1.45. Which of the following statements do these rates imply? a. The Canadian dollar is expected to depreciate by 4% over the next year. b. The Canadian dollar is expected to appreciate by 4% over the next year. c...
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Ottawa Publishing has a line of credit with their bank and must keep a $10,000 minimum balance each month. There is no outstanding loan at the beginning of January. Loans can be borrowed and repaid in any amount. The cash balance on January 1 is expected to be $12,000. Sales were $35,000 in December and are budgeted to...
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If there is a linear demand function given by {eq}p= -\frac{1}{5}x + 10{/eq}, then at what value of {eq}x{/eq} is elasticity equal to -1?
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Use the divergence theorem to evaluate the flux of {eq}\displaystyle F(x,y,z) = \left \langle xy^2, yz^2,zx^2 \right \rangle, \ S {/eq} where S is the boundary of the cylinder given by {eq}\displaystyle x^2 + y^2 \leq 4, \ 0 \leq z \leq 3 {/eq}.
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In the figure below, a force F⃗ of magnitude 10.0 N is applied to a rectangular block of mass m = 2.00 kg that is free to slide on a frictionless surface. The force F⃗ is applied at an angle θ = 45.0 degrees. What is the linear acceleration of the block? a) 3.54 m/s^2 b) 6.12 m/s^2 c) 4.05 m/s^2 d) 1.41 m/s^2
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Given the data below, what is the most conservative estimate of the standard error of the mean? Small Midsize Large 28 31 36 26 26 28 23 30 40 24 28 33 26 29 35 24 31 2...
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Consider the situation of Excess Demand under Cournot duopoly when the market demand is P = 24 - Q and each of the two competitors has a different marginal cost function. Firm 1's marginal cost function is MC1 = 10 + Q1 while Firm 2's marginal cost function is MC2 = Q2. Cournot equilibrium will be: a) Q1 = 12.32; Q2 =...
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Let $X$ be a r.v. with $E(X)=0$ and $Var(X)=1$. Define $Y_n=(nX+1)e^{-nX}$. I need to find $limsup(Y_n)$ and $liminf(Y_n)$. I know $E(Y_n)=e^{-nE(X)}=e^{-n0}=1$ and $Var(Y_n)=(E(Y_n^2)-E(Y_n)^2)=(E((nX+1)^2e^{-2nX})-1^2)$. I can't calculate the expected value so I don't know how to calculate the variance.
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The following data are taken from the accounting system of Larden Corporation, a manufacturing company that uses a job-order costing system. The company's chief financial officer is convinced that the company has a problem with idle capacity and that the factory overhead costs are too high. The chief financial officer...
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Walter Co. experienced the following transactions: Issued $81,000 of common stock for cash. Purchased $44,000 of inventory on account. Sold inventory costing $29,000 for $49,000 cash. Purchased a building for $200,000 cash. Paid $11,000 cash for salaries owed to employees. The net cash provided by these transacti...
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The management of Tathagat Company is considering the purchase of a machine that would cost $474,108 and would have a useful life of 5 years. The machine would have no salvage value. The machine would reduce labor and other operating costs by $140,000 per year. The internal rate of return on the investment in the new m...
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The operating income for 2012 and 2013 for Stratford Company are as follows: 2012 2013 Actual $105,000 $116,000 Flexible-budget amount 103,000 115,000 Static-budget amount 100,000 110,000 Required: For 2013, what percentage of Strat...
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Integrate: {eq}\displaystyle\int (5 x^{5}+6 x^{4}+4 x-2)\cos (x^{6}+2x^{3}+1)\, dx{/eq}. Answer: {eq}sin (x^{6}+2x^{3}+1)+c{/eq}
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To measure time intervals, we can use an instrument called a clock. Since time measurements are essentially counts of clock ticks, one could say that all clocks are really a type of counter. The accuracy to which we can measure a time interval is limited by the precision of the clock used. The best clocks are called ac...
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Suppose the duration of a particular type of criminal trial is known to be normally distributed with a mean of 21 days and a standard deviation of 6 days. Suppose one hundred trials are randomly selected. Find the probability that the mean duration of these trials is at least 22 days.
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The December 31, 2016, inventory of Edinburgh Corporation was $469,600 (based on a physical count) when the perpetual inventory system indicated a balance of $470,450. If a fire had destroyed all of Edinburgh's inventory on December 31, 2016, what amount should be reported as lost?
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Assume that a portfolio of stocks has a beta of 1.3. What is the correlation coefficient if the portfolio variance is 12.7 percent and the variance of the market return is 10.1 percent?
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What is the probability that 3 or fewer people arrive in a 30-second period if airline passengers arrive randomly and independently at a rate of 40 passengers per minute?
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Two point charges of equal magnitude Q are held 40cm apart. If the electric field at the midpoint of the line joining them is 3.7N/C find the magnitude of the two charges.
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For which of the following CANNOT L'Hopital's Rule be used to find {eq}\displaystyle \lim_{x \to 2} \frac{e^{3 x} - 1 - 3 x}{(x - 2)^2} {/eq}? Give a reason for your answer. a. {eq}x = 2 {/eq} is in the domain of {eq}f(x), \ g(x), \ f'(x), \ \& \ g'(x) {/eq}. b. {eq}g(2) = 0, \ g'(2) \neq 0, \ f(2) = 0, \ \& \ f'(2) \...
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A long wire carrying a {eq}4.0-A {/eq} current perpendicular to the {eq}xy {/eq}-plane intersects the {eq}x {/eq}-axis at {eq}x = -2.0 \, \mathrm{cm} {/eq}. A second, parallel wire carrying a {eq}2.5-A {/eq} current intersects the {eq}x {/eq}-axis at {eq}x = +2.0 \, \mathrm{cm} {/eq}. At what point on the {eq}x ...
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Prepare an amortization table for 2018 and 2019 for the bonds above. Discount Amortization Period Cash Payment Interest Expense Discount on Bonds Payable Bond Payable Carrying Value At Issue $192,000 06/30/2018 -6 months $12,000 $12,800 $800 $192,800 12/31/2018 $12,000 $12,800 $800 $193,600
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During the Great Recession, the Fed implemented contractionary monetary policy. However, the stock market recovered. Is this possible? Why or why not? A. Yes. Stock prices are affected by things other than monetary policy. B. No. The Fed cannot implement contractionary monetary policy during a recession. C. Yes. A s...
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You deposit $1,000,000 in a bank account and withdraw $500 at the end of each year. The account pays 4 percent annual interest. How long will it take to accumulate $10,000,000 in the bank?
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Nascar Motors assembles and sells motor vehicles and uses standard costing. Actual data referring to their sales and costs are as follows: Nascar Data April & May 2014 April 2014 May 2014 Beginning inventory 0 50 Production 500 450 ...
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For individuals, taxable income is determined by: A. Adding to adjusted gross income those amounts that are excluded from income. B. Subtracting from gross income those amounts that are excluded from income. C. Subtracting from adjusted gross income those amounts that are excluded from income. D. Adding to gross in...
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Which of the following statements is CORRECT? a. Two firms with the same level of risk and same set of cash flows should have the same stock price even if one has a higher P/E ratio. b. The pure expectations theory of the term structure of interest rates says that the maturity risk premium can be roughly estimated by...
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The NPV of a project is 80. What is the NPV of the project, expressed in discounted dollars, if its cash flows are forecasted in nominal dollars and the inflation rate is 4%?
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0.19 mol of nitrous acid (HNO2, Ka = 4.5 x 10^-4) is added to 210.0 mL of water. Calculate the pH of the resulting solution. Express your answer using two decimal places.
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When partitioning the interval [0, 4] into n subintervals of equal length, what is the length of each subinterval?
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On March 1, 2014, Phillips Co. borrows $120,000 at 10% per annum repayable on March 1, 2015. In addition to the principal, interest payments of $1,000 due every 3 months are also required. The year-end adjustment is made on December 31, 2014. The entry to record the payment of interest on March 1, 2015, would include ...
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Graham Farms is a all-equity firm with 280,000 shares of common stock outstanding. The company has decided to borrow $1.6 million to repurchase 40,000 shares. What is the value of this firm if you ignore taxes? A. $11.2 million B. $12.8 million C. $14 million D. $15.2 million E. $16.8 million
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Which of the following is not one of the integrative views of creativity? (a) Environmental conditions (b) Nature of the task (c) Personal characteristics (d) Culture of the organization.
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Is it possible to evaluate $\lim_{t\to 0}(\frac{1}{t^2}-\frac{1}{t\sin t})$ without using L'Hospital's rule?
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Divide using long division: $\frac{3x^3+5x^2+7x-6}{3x^2-2x+1}$ Write your final answer as $Quotient + \frac{Remainder}{Divisor}$.
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Creek, Inc., bonds have a 7% coupon rate. The yield to maturity is 6.73%. The bonds have a face value of $1,000 and a current rate of 13.5 years. What is the bond price? a. $1,216.08 b. $1,070.06 c. $912.43 d. $1,073.38
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What is the present day worth of an annual compound interest investment of $1,000 per year for 10 years at an interest rate of 5%? A)$6,434 B)$7,869 C)$7,760 D)$8,530
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On December 31, 2014, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease are $1,050,000 (including $50,000 annual executory costs) and are due on December 31 of each year. The first payment was made on December 31, 2014, and the second payment was made on December ...
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The subconscious organization of sensory inputs into meaningful wholes is called: A) sampling theory. B) gestalt theory. C) lowest common denominator theory. D) theory of second sight.
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A monopolist faces a demand curve given by P = 10 - Q and has constant marginal (and average) cost of 2. What is the economic profit made by this profit-maximizing monopolist if they engage in perfect price discrimination? a. 432 b. 64 c. 100 d. 121 e. None of the above
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How do I find the number of solutions to the congruence $x^3 \equiv 9 \pmod{13}$?
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Assume a model with no foreign sector, no income taxation, and a consumption function defined as C = 400 + (0.75)YD. If government transfer payments decrease by 200, then: a. income will decrease by 600 b. income will decrease by 800 c. income will increase by 800 d. income will increase by 200 e. income will in...
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Use the formula {eq}k=\frac{|xy-xy|}{[x^{2}+y^{2} ]^{\frac{3}{2}}}{/eq} to find the curvature of the cycloid {eq}x = a - sin(x), y = 1 - cos(x){/eq} at the top of one of its arches.
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Suppose that the quantity supplied {eq}S(x) {/eq} and the quantity demanded {eq}D(x) {/eq} in a free market are functions of the market price {eq}x {/eq} (in dollars). The supply function is given by {eq}S(x) = 3x^2 + 8x + 20 {/eq} and the demand function is given by {eq}D(x) = 112 - x^2 {/eq}. Use the formula {eq...
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A manufacturing company leased equipment from MachineLease on January 1, 2012. The lease term is for the 10-year period expiring on December 31, 2021. The useful life of the leased asset is 10 years. The cost of the asset to the lessor is $150,000. The lease contains five annual payments of $18,000 on December 31 of e...
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A microwave oven sold for $999, and actually cost the store $575. Later, due to the introduction of a new model, the microwave was put on sale for $499. Which of the following is the most likely cost for the microwave under the new category of prices? A. $999 B. $575 C. Between $499 and $575 D. Between $499 and $99...
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The x and y components of a velocity field are given by u = x + y and v = - x + y. Determine the equation for the streamlines of this flow.
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Evaluate the limit $\lim_{x\rightarrow 0}\frac{\tan(x)-\sin(x)}{\sin(\tan(x)-\sin(x))}$.
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Suppose your firm's labor cost is more than your competition's in the short-run because a. the price of labor (e.g. wages) is higher in your city. b. your marginal product of labor is lower than the average marginal product of labor. c. your marginal product of labor is higher than the average marginal product of la...
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The Rainforest Café in Black Hawk, Colorado, has 1,500 shares of $3 par value preferred stock outstanding and 10,000 shares of $1 par value common stock outstanding. Assume the preferred stock has a cumulative dividend right and a 5% dividend rate. The total dividends are $18,000. Dividends on preferred stock in arrea...
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The first rule of accounting is: a. data must be accurate b. there must be a bank account for each business c. accounting must be done with the help of computers d. anyone can do accounting e. anyone can learn accounting
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The Great Gilly Hop Company (GGHC) has not yet determined its cost of capital. Currently, it can raise debt at 6% and the last dividend paid was $0.50. GGHC stock price is $50 per share and that is expected to grow at 4% indefinitely. GGHC currently has no debt, a beta of 1.1 and their tax rate is 35%. What is GGHC's ...
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Suppose you are in charge of setting prices at the Kauffman Center. You know that, for performances during the day, demand is Qd = 200,000 - 400P. For performances in the evening, demand is Qe = 300,000 - 600P. The marginal cost of each performance (whether day or night) is $30,000. What prices do you charge during the...
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In the Crane Company, indirect labor is budgeted for $81,000, and factory supervision is budgeted for $36,000 at a normal capacity of 120,000 direct labor hours. If 140,000 direct labor hours are worked, the flexible budget total for these costs is: a. $136,500 b. $123,000 c. $130,500 d. $117,000
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The __________ column of the worksheet shows the items to be reported as part of net income. a. Balance Sheet b. Income Statement c. Adjusted Trial Balance d. Unadjusted Trial Balance
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NewAge Furniture purchased a corner lot in Pittsburgh five years ago at a cost of $840,000. The lot was recently appraised at $1,070,000. At the time of the purchase, the company spent $80,000 to grade the lot and another $120,000 to pave the lot for commuter parking. The company now wants to build a new retail store o...
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Which of the following are not considered as part of a company's cash flow from operating activities on the indirect method of cash flow reporting? A. A decrease in supplies inventory B. An increase in interest receivable C. A decrease in prepaid insurance D. A decrease in accounts receivable
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Beyer Company is considering the purchase of an asset for $360,000. It is expected to produce the following net cash flows. The cash flows occur evenly throughout each year. Year Cash inflow (outflow) 1 2 3 $75,000 4 ...
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A stock has a beta of 1.10, the expected return on the market is 12.75 percent, and the risk-free rate is 4.25 percent. What must be the expected rate of return on this stock be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
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For each of the following changes, state whether there will be an increase or decrease in the transfer value per share under the diluted EPS assumption, and explain your answer. a. The company purchases additional shares of its own common stock at a price higher than the current market value. b. The company buys back...
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How do I find a closed form for $\frac{1}{2} + \frac{1}{2} + \frac{2}{4} + \frac{2}{8} + \frac{3}{16} + \frac{3}{32} + \frac{4}{64} + \frac{4}{128} + \cdots$?
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Company A has $1.4 million of current assets and $1.0 million of current liabilities. The company's DSO is 40 days, its current ratio is 1.50, and its quick ratio is 1.33. Company B has the same sales, profit margin, asset turnover, current ratio, and quick ratio as Company A. Company B, however, has a different DSO th...
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Use the divergence theorem to calculate the flux of F out of the closed, outward-oriented surface bounding the solid {eq}E {/eq}. {eq}F= (xz, y, z^2x) {/eq} and {eq}E {/eq} is the solid between the spheres {eq}x^2+y^2+z^2=4 {/eq} and {eq}x^2+y^2+z^2=9 {/eq}
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Jared Company has the following estimated cash balances for January, February, and March: JanuaryFebruaryMarch Expected cash receipts$345,000$425,000$340,000 Expected cash disbursements$350,000$330,000$470,000 The company's balance on January 1 will be $40,000. Jared Company's objective is to maintain a minimum cash...
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The real GDP of a country is currently growing at a 2.5 percent rate, while the full employment level of output is growing at a 3.5 percent rate. If actual investment rises by 3 percent, we can conclude that: A) Real GDP will exceed its full employment level in the near future. B) This economy will have deflation in ...
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ABC Company uses the allowance method to account for bad debts. They made the following entries related to their receivables: Dr. Cr. a. Sales revenue $650,000 b. Accounts receivable $610,000 c. Bad debt expense $16,000 d. Accounts receivable $16,000 e. Allowance for doubtful accounts $14,000 If the unadjusted ...
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The state of plane stress at a point is {eq}\sigma_x = -500 kPa, \sigma_y = 50 kPa, \tau_{xy} = 250 kPa {/eq}. Determine the maximum shear stress for the element.
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Wilden Corporation, a manufacturer, is preparing the operating budgets for the first quarter of the 2016 fiscal year. The following sales and inventory data are available: Product Product Product Product XProduct YProduct ZTotal Beginning inventory 300 units500 units800 units1,600 units Units to be manufactured 40...
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Use Taylor's Inequality to determine the value of n that guarantees the accuracy of the approximation f(x) ≈ Tn(x) on the interval |x| ≤ 0.7, where f(x) = cos(x) and n = 2.
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Forsyth Company uses a job-order costing system with a single plantwide predetermined overhead rate based on direct labor hours. The company based its predetermined overhead rate for the current year on 14,000 total direct labor hours, a total fixed manufacturing overhead cost of $140,000, and a variable manufacturing ...
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Use cylindrical shells to find the volume of the solid formed when the region bounded by the curves {eq}\displaystyle y=x^2,\ y=8-x^2, \text{ and } x=0{/eq} is revolved about the y axis.
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Your firm's current balance sheet is as follows: Current assets$4,800,000 Fixed assets$10,000,000 Total assets$14,800,000 Current liabilities$1,000,000 Long-term debt$4,000,000 Equity$9,800,000 Total liabilities and equity$14,800,000 On the balance sheet, long-term debt is listed with a book value of $4 mill...
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J. Paul Wallingford has an investment opportunity that will reduce expenses by $10,000 per year for 4 years. The project's cost is $20,000. The assets being purchased will be depreciated straight line to zero over the 4-year project life. The required return for the project is 10%. Ignoring taxes, what is the accounti...
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An unknown point charge is placed near a negatively charged metal sphere. The magnitude of the electric field is strongest at point ____. Explain your reasoning. a. A b. B c. C d. D
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Use the Fundamental Theorem of Calculus to compute the integral exactly. {eq}\int_{-1}^2 \left ( \frac{3}{x^4}-5x^3 \right )dx {eq}
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As the chief financial officer of Doofenshmirtz Evil Incorporated (DEI), Rich DeVoo is considering a project that will cost $1,500 today. The project will produce cash flows of $500 in one year, $900 in two years, and $800 in three years. MARR is 12% per year. The internal rate of return for this project is closest to:...
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How many people are required so that the probability that someone has the same birthday as you is at least 1/2? How many people are required so that the probability that at least two people have the same birthday is at least 1/2?
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Two equal-sized open cylindrical tanks are separated by a partition that only allows water to move between them. Tank A has a constant outflow of 1000 cfs to an unregulated stream. The water levels in the two tanks are initially the same. Assume that outflow from tank B is an exponential function of h, given by outflow...
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You can buy a machine for $50,000 that will generate $5,000 cash flow per year. The machine will need to be replaced at the end of 10 years. Suppose that the discount rate is 10%. a. What is the NPV of the machine investment? b. What is the IRR of the machine investment?
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Marci's has an average collection period of 34 days. The current practice is to factor all receivables immediately at a discount rate of 1.8 percent. Assume that default is extremely unlikely. What is the effective cost of borrowing? a. 18.79 percent b. 16.20 percent c. 17.78 percent d. 20.97 percent e. 21.53 perc...
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What is the beta of the following portfolio? Stock investment Amount invested Beta Merck $150,000 1.35 Johnson and Johnson $180,000 0.78 Whole Foods $50,000 0.25 Deere $35,000 1.06 AT&T $35,000 0.29
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Which of the following statements is true regarding money and credit? A) M0 is the narrowest definition of the money supply and it includes demand deposits. B) Demand deposits are counted twice in the calculation of the M2 money supply because they are included in both M1 and M2. C) Credit cards are part of the mone...
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Molteni Motors Inc. paid a $3.50 dividend last year and $3.76 this year. The stock is selling for $55.00 per share. The company's dividend yield must equal what number?
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A firm has a capital structure of 40 percent common stock, 10 percent preferred stock, and 50 percent debt. Its required return on assets is 15 percent, the required return on preferred stock is 11 percent, and the required return on debt is 7 percent. What is the company's weighted average cost of capital (WACC)? Assu...
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Evaluate the double integral {eq}\displaystyle \iint_R (8 x + y) d A{/eq}, where R is bounded by {eq}\displaystyle y = \sqrt x\ \text{and}\ y = x^2{/eq}.
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Suppose last year $1 U.S. exchanged for 1.4 euros. If this year $1 exchanged for 1.2 euros, then we can conclude that: A. the dollar is stronger this year than it was last year and this will cause the United States short-run aggregate supply (SRAS) curve to shift to the right. B. the dollar is weaker this year than i...
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A stock just paid a dividend of $1.20 per share. Its dividend is expected to grow by 5% per year for the next 3 years and 10% per year thereafter. You require a return of 13% on this stock. What is the maximum price you would pay to buy this stock?
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