Keith and Jim are partners. Keith has a capital balance of $49,000 and Jim has a capital balance of $38,000. Bill invested $33,000 to acquire an ownership interest of 30%. Which of the following statements is TRUE of this transaction? (Round the final answer to the nearest dollar.)
A) Keith and Jim received a bonus of $1500 each.
B) Bill received a bonus of $4900.
C) Keith and Jim received a bonus of $2450 each.
D) Bill received a bonus of $3000.
D) Bill received a bonus of $3000
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The two major styles of family decision-making are
A. active and passive. B. spouse-dominant and spouse-submissive. C. joint and passive. D. joint and spouse-dominant. E. democratic and autocratic.
Priscilla is a trader of silver and diamond jewelry. Due to a recessionary trend in the industry, her business has not been making any profits for a few months. As the end of this economic trend cannot be easily ascertained, she decides to get her house mortgaged so that she can add a new line of business of trading in semi-precious stones. This financial risk appetite of Priscilla illustrates her _____ as an entrepreneur.
A. high energy levels B. tolerance of uncertainty C. tolerance of failure D. deep visionary sense
Darren has the option of investing in either Stock A or Stock B. The probability of the return of Stock A being 25% is 0.45, 14% is 0.25, and 4% is 0.30. The probability of the return of Stock B being 30% is 0.30, 9% is 0.25, and 2% is 0.30. Given the probability distributions for the two investments, what is the expected rate of return for Stock A and Stock B??
A. ?13.65%; 12.85% B. ?14.75%; 13.75% C. ?15.95%; 11.85% D. ?16.80%; 11.45% E. ?17.82%; 11.95%
Engineworks Co. provides the following fixed budget data for the year:Sales (20,000 units) …………………………….?$600,000Cost of sales:?? Direct materials …………………………….. $200,000? Direct labor …………………………………160,000? Variable overhead …………………………..60,000? Fixed overhead ……………………………..80,000500,000Gross profit …………………………………….?$100,000Operating expenses:?? Fixed ………………………………………..$12,000? Variable …………………………………….40,000 52,000Income from operations ………………………..?$ 48,000The company's actual activity for the year follows:??Sales (21,000 units)
…………………………….?$651,000Cost of goods sold:?? Direct materials …………………………….. $231,000? Direct labor …………………………………168,000? Variable overhead …………………………..73,500? Fixed overhead ……………………………..77,500550,000Gross profit …………………………………….?$101,000Operating expenses:?? Fixed ……………………………………….12,000? Variable …………………………………….39,500 51,500Income from operations ……………………….?$ 49,500Required:Prepare a flexible budget performance report for the year using the contribution margin format. What will be an ideal response?