1 Plum Corporation began the month of May with $700,000 of current assets, a current ratio of 2.70.1, and an acid-test ratio of 1.30:1. During the month, it completed the following transactions (the company uses a perpetual inventory system). Book rences May 2 Purchased $70,000 of merchandise inventory on credit. May 8 Sold merchandise inventory that cost $50,000 for $150,000 cash. May 10 Collected $28,000 cash on an account receivable. May 15 Paid $24,000 cash to settle an account payable. May 17 Wrote off a $5,000 bad debt against the Allowance for Doubtful Accounts account. May 22 Declared a $1 per share cash dividend on its 60,000 shares of outstanding common stock. May 26 Paid the dividend declared on May 22. May 27 Borrowed $90,000 cash by giving the bank a 30-day, 10% note. May 28 Borrowed $115,000 cash by signing a long-term secured note. May 29 Used the $205,000 cash proceeds from the notes to buy new machinery. Required: Complete the table below showing Plum's (1) current ratio, (2) acid-test ratio, and (3) working capital after each transaction. (Do not round intermediate calculations. Round your ratios to 2 decimal places and the working capitals to nearest dollar amount. Amounts to be deducted should be indicated with a minus sign.)
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The table given below demonstrates the effect of each transaction on Plum’s current ratio, acid-test ratio, and working capital. In addition, the following calculations have been made: a) Current ratio b) Acid-test ratio c) Working capital.
The current ratio, which is a measure of the company's ability to pay current liabilities with current assets, was 2.70:1 at the start of May. The acid-test ratio, which excludes inventory from current assets, was 1.30:1. On May 2, Plum purchased $70,000 of inventory on credit, increasing both current assets and current liabilities by $70,000. On May 8, the company sold merchandise inventory that cost $50,000 for $150,000 cash. The sale resulted in an increase in both cash and current assets of $150,000. The cost of the goods sold was also deducted from current assets. The working capital increased as a result of this transaction. On May 10, $28,000 was received on an account receivable, increasing both cash and current assets by $28,000. On May 15, the company paid $24,000 cash to settle an account payable, reducing both cash and current liabilities by $24,000.
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Related Questions
PLEASE ANSWER BOTH OF THE QUESTIONS PLS!!!!!!!!!!!!!!!!!!!!
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Please help. I’m struggling. 20 points !!!!
To propose the idea of creating a partnership with another business, you will need to prepare
a formal business letter to send to the owner of Great BBQ, Hank White. This proposal should
introduce the following ideas:
Forming a partnership would allow both restaurants to sell the other's product and
merchandise.
The partnership would expand both of our businesses and customer base.
.
A more detailed meeting and presentation will follow if Great BBQ is interested.
Prepare a business letter to send to Great BBQ. (8 points)
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Answer:
The letter could be somewhat like this:
Dear Hank White, CEO of Great BBQ
I am John Smith, I am the CEO of a meat distributor. I specialize in prime cuts like New York Ribeye, Tenderloin, and Wagyu Beef with the best Japanese Technique.
I am sure that as business partners, we both could do better than we do right now. I have the best raw material for your restaurant business, and you have the BBQ expertise and knowledge.
I would appreciate if you considered this letter, you can call me any time if you want to discuss further, or write me an email-.
Sincerely
John Smith
All of the following are examples of body language except:
Answers
Answer:
using humor to describe a situation
Answer:
I would go with b. using humor to describe a situation
Explanation:
Using humor is basically trying to accentuating your point/situation,so that's excluded.
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What is it called when businesses are doing poorly and stock prices drop?
Answers
Answer:
When a stock price falls, that means the company must sell additional shares of stock to raise the same amount of proceeds
Explanation:
Which describes absolute advantage?
A.) ability to produce more cheaply
B.) existence of lower opportunity costs than competitors
C.) performance of a particular productive task within an economic system
D.) best alternative given up by a particular production decision
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A producer has an absolute advantage over its rivals when it can create an item or service in a higher volume for the same price, or in the same volume at a cheaper price.
Which describes absolute advantage?
The capacity of a producer to outproduce a rival in terms of production of a products or service. Comparative advantage: When a producer can create a commodity or service for less money than a rival.
The capacity to produce at a lower cost; a comparative advantage over rivals in that there are reduced opportunity costs; Performing a certain productive work well within an economic system is known as specialisation. Protectionism: The presence of restrictions on free commerce.
The capacity of a company to create more and sell more of an item or service than competitors while utilizing the same amount of resources is referred to as having an absolute cost advantage in economics.
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Jean’s Vegetable Market had the following transactions during 2014: 1. Issued $50,000 of par value common stock for cash. 2. Repaid a 6 year note payable in the amount of $22,000. 3. Acquired land by issuing common stock of par value $50,000. 4. Declared and paid a cash dividend of $7,000. 5. Sold a long-term investment (cost $3,000) for cash of $6,000. 6. Acquired an investment in IBM stock for cash of $10,000. What is the net cash provided by financing activities? Group of answer choices $21,000 $67,000 $0 $28,000
Answers
Answer:
$21,000
Explanation:
The computation of the cash provided by financing activities is shown below
Cash flows from financing activities
Issue proceeds of common stock $50,000
Less Repayment of 6 year note payable -$22,000
Less: Payment of cash dividend -$7,000
Net Cash provided by financing activities $21,000
The same is considered and relevant
If a portfolio had a return of 15%, the risk-free asset return was 5%, and the standard deviation of the portfolio's excess returns was 30%, the Sharpe measure would be ______ .A. 0.20B. 0.35C. 0.45D. 0.33E. 0.25
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The Sharpe measure, also known as the Sharpe ratio, assesses the risk-adjusted return of an investment or portfolio.
It is calculated by dividing the excess return of the portfolio (the difference between the portfolio return and the risk-free rate) by the standard deviation of the portfolio's excess returns.
In this case, the portfolio had a return of 15%, the risk-free asset return was 5%, and the standard deviation of the portfolio's excess returns was 30%. To calculate the Sharpe measure, we need to find the excess return first, which is 15% - 5% = 10%.
Next, we divide the excess return (10%) by the standard deviation of the portfolio's excess returns (30%).
Sharpe measure = Excess return / Standard deviation = 10% / 30% = 0.33.
Therefore, the Sharpe measure for this portfolio would be 0.33 (option D).
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You're given a monthly budget of $400 for social media advertising. You want to set a daily budget for February to insure you don't overspend for the month. What is your daily budget? (It is not a leap year.)
Answers
Answer:
$14.28
Explanation:
you will have a couple of cents left over at the end because you cant evenly divide 400 by 28
Caligula Corp. has 840,000 shares outstanding, currently trading at $64. The company is borrowing $4,000,000 to buy back some shares. The interest rate is 13%. Assume that the buy-back does not affect the stock price.
a) What is the break-even EBIT if there are no taxes?
b) What is the break-even EBIT if the tax rate is 34%?
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The break-even EBIT, with no taxes, is $520,000 and the break-even EBIT, with a tax rate of 34%, is $696,800.
a) To calculate the break-even EBIT (Earnings Before Interest and Taxes), we need to determine the point where the interest expense from the borrowed amount equals the interest tax shield provided by the tax deduction. Since there are no taxes in this case, the interest tax shield is not applicable.
The interest expense can be calculated by multiplying the borrowed amount by the interest rate:
Interest Expense = $4,000,000 * 0.13
Interest Expense = $520,000
The break-even EBIT occurs when the EBIT is equal to the interest expense:
Break-even EBIT = Interest Expense
Break-even EBIT = $520,000
Therefore, the break-even EBIT, with no taxes, is $520,000.
b) If the tax rate is 34%, we need to consider the interest tax shield in the break-even EBIT calculation. The interest tax shield represents the tax savings resulting from the tax-deductibility of interest expenses.
The interest tax shield can be calculated by multiplying the interest expense by the tax rate:
Interest Tax Shield = Interest Expense * Tax Rate
Interest Tax Shield = $520,000 * 0.34
Interest Tax Shield = $176,800
The break-even EBIT, considering the tax rate, occurs when the EBIT is equal to the sum of the interest expense and the interest tax shield:
Break-even EBIT = Interest Expense + Interest Tax Shield
Break-even EBIT = $520,000 + $176,800
Break-even EBIT = $696,800
Therefore, the break-even EBIT, with a tax rate of 34%, is $696,800.
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Refer to the figure below. The socially optimal level of output could be achieved by imposing a tax on each unit equal to the distance Social MC Private MC Price ($/unit) Demand G H Quantity (units/day) Multiple Choice EG
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In the given diagram, the socially optimal level of output could be achieved by imposing a tax on each unit equal to the distance between the social marginal cost (SMC) and the private marginal cost (PMC) at the equilibrium quantity.
The tax should be equal to the difference between the height of the SMC curve and the height of the PMC curve at the equilibrium quantity. In the given diagram, the equilibrium quantity is where the demand curve intersects the PMC curve, which is at point G. However, at this quantity, the SMC curve is higher than the PMC curve, indicating that there are external costs associated with production and consumption that are not being accounted for by the market.
Therefore, the socially optimal level of output is at point H, where the SMC curve intersects the demand curve.The difference between the height of the SMC curve at point H and the height of the PMC curve at point G represents the external cost per unit of production and consumption. Therefore, imposing a tax on each unit equal to this difference will force producers and consumers to internalize the external costs and will lead to the socially optimal level of output.
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Active listening is a process of communication in which the listener engages the speaker by repeating or rephrasing the speaker’s words; the listener may also mirror body language or _____.
apathetic behavior
tone of voice
nervous tics
hand gestures
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Answer: tone of voice
Explanation:
Active listening refers to a process of communication whereby the speaker is engaged by the listener who repeats the words or statements heard.
Active listening involves the individual listening with all his or her senses and giving the speaker all the attention needed.
In active listening, the listener can mirror the body language or the tone of voice of the speaker. Active listening can be either acquired or developed through constant practice.
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PLSSS HELP PLSS HELP
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Bank's Balance Sheet
Assets Liabilities and Owners' Equity
Reserves $200 Deposits $1,600
Loans $800 Debt $250
Securities $1,000 Capital (owners' equity) $150
Suppose a new customer adds $100 to his account at Northeastern Mutual Bank, which the owners of the bank then use to make $100 worth of new loans. This would increase the loans account anddecrease the account.
This would also bring the leverage ratio from its initial value of to a new value of .
Which of the following is true of the capital requirement? Check all that apply.
Its intended goal is to protect the interests of those who hold equity in the bank.
It specifies a minimum leverage ratio for all banks.
The higher the percentage of assets a bank holds as loans, the higher the capital requiremen
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This would increase the loans account and increase the deposits account. The initial value of 13.33 to a new value of 14. The higher the percentage of assets a bank holds as loans, the higher the capital requirement. Thus, option (c) is correct.
What is a Balance Sheet?
The balance sheet and details of reconciled transactions for each account are the two most important reports that the accountant will want.
(a) This would increase the reserves account and increase the deposits account.
(b) The bank leverage ratio refers to its Assets divided by Capital (Owner's equity).
Liabilities should match assets. Therefore, keeping both sides equal by adding $100.
= (Reserves + loans + securities)/Capital
= (200 + 800 + 1,000) / 150
initial value of 13.33
After the $100 was borrowed
= (200 + 800 + 1,000 + 100) /150
new value of 14
(c) The capital requirement increases as the proportion of an institution's assets held as loans rises. Given that loans are made from deposits, the capital requirement is intended to safeguard depositors in the event that loans are defaulted upon.
Hence, the significance of the Balance Sheet is aforementioned.
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what are factors affect demand for labour
Answers
The factors that effect demand for labour are:
The quantity of a produt that labor produces
A change in the production process that uses more or less labor
A change in goverment policy that effects the quantity of labor
A global computer network providing a variety of information and communication facilities, consisting of interconnected networks using standardized communication protocols.
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Answer:
The correct answer is "Internet".
Explanation:
A global structure of data networks, the collection of several types of networks throughout which the clients at any device will, whether they have the authorization, obtain some technical information from other devices, recognized as an internet. Which utilizes a fraction of that same cumulative capacity of the already additional infrastructure network systems.two document uesd in home trade
Answers
Documents used in Home Trade
Enquiry Letter Making an enquiry.
Reply Letter.
Order Letter Ordering goods.
Acknowledgement Letter.
Invoice Invoice.
Receipt of goods.
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Which statement about the Federal Reserve (the Fed) is true?
O Unless a person works there, the Fed has little impact on everyday life.
O The Fed determines the criteria banks must use to evaluate loan requests.
O The Fed sets monetary policy, which affects the interest rates banks offer.
O Because it is independent, the Fed reviews and approves the national budget.
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A statement that is true on the Federal Reserve is that C. The Fed sets monetary policy, which affects the interest rates banks offer.
What does the Federal Reserve do ?The American central bank is known as the Federal Reserve System (FRS). It is conceivably the most potent financial organization in the entire globe and is sometimes referred to as "the Fed." It was established to give the nation a secure, adaptable, and stable financial and monetary system.
Its primary duties include controlling the money supply, establishing interest rates, and overseeing the financial system. In times of economic crisis, it also serves as a lender of last resort, as was shown during the financial crisis of 2008.
These powers of the Federal Reserve mean that it is the one which sets the monetary policy of the United States. This monetary policy will then affect the interest rates on loans, offered by banks.
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What is the hazard? Chris works for a city public works department. One hot afternoon the temperature outside reached 92 degrees. While Chris was shoveling dirt in a vacant lot, he started to feel dizzy and disoriented. He fainted due to the heat.
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Answer: dehydration
Explanation:
Answer:
dehydration and heat exhaustion.
Explanation:
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The yield to maturity on a bond is below the coupon rate when the bond sells at a discount, and above the coupon rate when the bond s: at apremium the discount rate that will set the present value of the payments equal to the bond price based on the assumption that any payments received are reinvested at the coupon rate all of the above
Answers
The correct answer is above the coupon rate when the bond sells at a premium .The yield to maturity is defined as the interest rate that makes the present value of the bond’s payments equal to the bond’s price.
When the bond is selling at par, the yield to maturity is the same as the coupon rate. However, if the bond sells at a discount, the yield to maturity will be higher than the coupon rate. This is because the bond is paying a coupon rate that is higher than the prevailing interest rate, which makes the bond more attractive to investors. As a result, the price of the bond will increase, and the yield to maturity will decrease. On the other hand, if the bond sells at a premium, the yield to maturity will be lower than the coupon rate.
This is because the bond is paying a coupon rate that is lower than the prevailing interest rate, which makes the bond less attractive to investors. As a result, the price of the bond will decrease, and the yield to maturity will increase.The discount rate that will set the present value of the payments equal to the bond price based on the assumption that any payments received are reinvested at the coupon rate is called the Yield to Maturity (YTM). Therefore, the main ans is "above the coupon rate when the bond sells at a premium".
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compared to traditional marketing, digital/social media marketing a. provides a wider reach. b. is harder to track. c. is more engaging. d. is less direct.
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Compared to traditional marketing, digital/social media marketing A. provides a wider reach, is more engaging, and allows for easier tracking of results.
Traditional marketing methods, such as print advertising and direct mail, often have limited reach and can be more costly. In contrast, digital and social media marketing allows businesses to access larger, more diverse audiences globally. This wider reach helps businesses expand their customer base and grow brand awareness.
Digital and social media marketing is also more engaging. By creating interactive content, businesses can foster genuine connections with their customers. Social media platforms provide opportunities for real-time communication and direct feedback from customers, enhancing the overall experience for both parties. This increased engagement helps businesses better understand their customers' needs and preferences, ultimately improving their products and services.
Lastly, digital/social media marketing is easier to track than traditional marketing methods. Digital platforms offer detailed analytics and reporting tools that enable businesses to monitor their campaigns' performance, measure return on investment (ROI), and adjust their strategies based on data-driven insights. This ability to track results helps businesses make informed decisions and optimize their marketing efforts to maximize effectiveness.
In conclusion, digital and social media marketing offers significant advantages over traditional marketing, including a wider reach, increased engagement, and more straightforward tracking of campaign performance. As a result, businesses can better connect with their customers, understand their needs, and make data-driven decisions to improve their overall marketing strategies. Therefore the correct option A
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7. Jannah is reviewing a report that a new marketing manager put together after assessing her small business. If Jannah wants to learn how familiar a custo
what section of the marketing report should she review?
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To learn how familiar a customer is to the company, Jannah must look at the leads section of the marketing report.
What is a marketing report?It consists of a document through which an organization can visualize its performance over a period of time, through the analysis of data and information about the company's actions and strategies to achieve objectives and goals in the market.
Through qualitative and quantitative reports related to communication and sales, for example, the company is able to make more significant decisions about its strategy, with evaluations and corrections that will contribute to continuous improvement and positioning in the market.
So leads could be the section that Jannah would review to identify a potential customer, as this data significantly demonstrates an individual who engages with the company's business and can be turned into a customer.
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The CDC for hospitals and healthcare facilities to improve
Answers
The CDC makes investments in infrastructure and healthcare systems to make them secure settings for patient care.
What are the Centers for Disease Control and Prevention?The Centers for Disease Control and Prevention (CDC) is a government organization that carries out and supports health promotion, prevention, and preparedness operations in the United States. The Department of Health and Human Services oversees the CDC, which was founded in 1946.
Access resources and advice to help healthcare facilities plan, function efficiently, and handle surges.
Thus, CDC helps in improving the plans and functions efficiently to handle surges.
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Many healthcare organizations have a Code of Ethics, as well as a Corporate Compliance Program or Ethics Committee that ensures that this Code is adhered to within the organization.
Please discuss why it is important to have a Code of Ethics and Corporate Compliance Program in place. Furthermore, discuss the role that these committees play within organizations and what types of activities they monitor. What might the Committee do if they determine that a violation of the Code of Ethics has occurred within their organization?
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Importance: Having a Code of Ethics and Corporate Compliance Program is crucial for healthcare organizations. They provide a framework for ethical behavior, promote accountability, and ensure compliance with legal and regulatory requirements.
These initiatives help maintain trust, integrity, and patient welfare.
Role of Committees: Ethics committees and compliance programs play vital roles. Ethics committees provide guidance on ethical dilemmas, review policies, and offer education and training on ethical conduct. Compliance programs monitor adherence to laws, regulations, and organizational policies, promoting integrity and preventing fraud and abuse.
Activities Monitored: Committees monitor various activities, including ethical decision-making, patient privacy and confidentiality, informed consent processes, conflicts of interest, research integrity, billing practices, and compliance with healthcare regulations. They also conduct audits, risk assessments, and investigations related to potential violations.
Violation Response: If a violation is identified, committees typically initiate an investigation to gather relevant information. They may follow a defined process, which can involve interviews, document review, and collaboration with legal and HR departments. Based on their findings, they may recommend disciplinary actions, such as training, counseling, ive measures, or even termination.
A Code of Ethics provides a set of principles and standards that guide healthcare professionals in their conduct. It ensures that ethical considerations, such as respect for patient autonomy, privacy, and confidentiality, are prioritized. This is particularly important in healthcare, as decisions and actions directly impact patient well-being.
Corporate Compliance Programs complement the Code of Ethics by focusing on legal and regulatory compliance. They help prevent fraud, abuse, and other violations that can harm patients and compromise organizational integrity. Compliance programs establish policies, procedures, and internal controls to detect and mitigate risks.
Ethics committees serve as valuable resources within organizations. They offer guidance and support in navigating complex ethical issues, promoting ethical decision-making. These committees foster a culture of ethical awareness and responsibility among healthcare professionals.
Compliance programs monitor a wide range of activities, including billing practices, documentation, and adherence to healthcare laws such as HIPAA. They conduct audits and risk assessments to identify areas of vulnerability and implement ive actions to ensure compliance.
When a violation of the Code of Ethics is determined, committees take appropriate actions. This may involve investigations to gather facts, interviews with involved parties, and review of relevant documents. Based on their findings, committees may recommend disciplinary measures or interventions to rectify the violation and prevent future occurrences.
In summary, having a Code of Ethics and Corporate Compliance Program is essential in healthcare organizations to ensure ethical conduct, legal compliance, and patient well-being. Ethics committees and compliance programs serve as guardians of organizational integrity, providing guidance, monitoring activities, and taking appropriate action when violations occur.
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Tell me ten different things a person would need a credit score for? WILL MARK BRAINLIEST DUE TODAY PLEASE HELP 50 POINTS
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If you want to take advantage of compound interest, what should you do when an investment produces interest?
A. Use the interest to pay your bills.
B. Reinvest the interest.
C. Put the interest in a savings account.
D. Put the interest in a checking account.
Answers
Answer: B. Reinvest the interest.
Explanation: Although the rest of the options seem valid, the best option you have is to reinvest the interest. You'll ultimately make more using the side cash you've received. Also, it's correct on Edge.
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The best choice you have is to reinvest the interest, Using the extra money you've been given, you'll ultimately make more money. On Edge, it is accurate as well. Hence option B is correct .
What is Compound Interest ?The yearly interest rate is raised to the number of compound periods minus one, and the starting principal amount is multiplied by both of these factors. The resulting value is subsequently deducted from the loan's entire original amount.
Formulas for Compound Interest
Formula for Monthly Compound Interest. Twelve times a year are used to calculate interest that is compounded monthly.
Formula for Quarterly Compounding. Four times a year are used to calculate interest that is compounded quarterly.
Formula for Daily Compound Interest. compute interest in daily basis
Formula for Annual Compound Interest interest will be compute once in a year.
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If I am convinced that my own neighborhood is safer than it used to be, but that the crime rate in my society is at an all-time high, I am falling victim to...
A) Probability neglect
B) Shifting the burden of proof fallacy
C) Presumptive pessimism
Answers
Answer:
A) Probability neglect
Explanation:
You probably have lived there so long that you neglect to see what the true crime is, and you honestly could care less if its at it all time high
Answer:
A) Probability neglect
Explanation:
its neglectful if you do this
Melamark's advisor on global affairs is concerned that carries too much risk.
A) a strategic alliance
B) franchising
C) setting up a foreign subsidiary
D) a joint venture
Answers
Melamark's advisor on global affairs is concerned that a joint venture carries too much risk. A joint venture is a business arrangement where two or more companies come together to form a new entity for a specific purpose. Thus, option D is correct.
While joint ventures can be beneficial for accessing new markets, sharing risks and costs, and pooling resources, they also carry significant risks.
Joint ventures require significant investments of time, money and resources, and there may be cultural and legal differences to navigate, which can lead to misunderstandings and conflicts.
There is also a risk of losing control over intellectual property, as well as the possibility of the partner pursuing their own agenda or being unreliable.
Alternative options to a joint venture include a strategic alliance, franchising, or setting up a foreign subsidiary. A strategic alliance involves two or more companies cooperating to achieve a mutual goal, without forming a new entity.
Franchising involves licensing a brand and business model to a foreign partner, who operates the business independently. Setting up a foreign subsidiary involves establishing a new legal entity in a foreign country, which is fully owned and controlled by the parent company.
In conclusion, Melamark's advisor on global affairs is concerned that a joint venture carries too much risk. Alternative options to consider include a strategic alliance, franchising, or setting up a foreign subsidiary.
Each option has its own benefits and risks, and the choice will depend on Melamark's specific circumstances and objectives. Thus, option D is correct.
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do you think there are different ethical standers for healthcare app and gaming app
Answers
Yes, definitely.
Gaming doesn't really have many standards besides possibly something involving gambling. Healthcare is responsible for people's health as well as their health data. It should be all about the user for the user. They have a huge responsibility. This goes for mental health (MHapps), contract tracing, etc.
What will happen to the market for video games if consumer income drops?
A. Graph 1
B. Graph 2
C. Graph 3
D. Graph 4
Answers
Answer:
a
Explanation: