The journal entry to record this transaction would be the cash is $10,000.
What is a journal entry?The journal entry in an accounting book is used to keep track of a company's financial activities. A properly documented journal entry has the right date, the amounts to be debited and credited, the transaction's description, and a unique reference number. A company's entire financial activity, together with the affected accounts, is meticulously detailed in a journal. Due to the double-entry accounting method used by the majority of businesses, every financial transaction has an impact on at least two accounts. One account is debited for every credit made to another account. As a result, the debit and credit amounts in a journal entry are equal. A journal is a record of transactions that is updated as the transactions occur and lists the precise accounts that the transaction has an impact on.
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why are the two output growth rates constructed in parts b and c different? which one is correct? explain your answer
Because element 1 in the input set maps to two values in the output set, the relationship depicted in the image is not a function.
The level of technological advancement or productivity development that the two nations are experiencing varies. The ability of an entity to use its limited resources in a way that results in output that is higher than that of other entities with access to the same resources is known as productivity. A nation's production increases as a result of technological advancement since it makes processes more effective. In the hypothetical situation, the growth in labor and capital in countries 1 and 2 is equal. This indicates that they have equal access to resources. The total output growth of nation 2 is higher than that of country 1, nonetheless. The rational argument is that country 2 has made greater technological strides than country 1, raising production while maintaining input levels.
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a characteristic of a unit is that it can be a single business or collection of related businesses that can exist separately from the rest of the company. group of answer choices niche market specialized business merged strategic business subsidiary
Strategic business subsidiary characteristic of a unit is that it can be a single business or collection of related businesses that can exist separately from the rest of the Firm.
Firm divisions frequently employ their own internal structures, which may include payroll management, human resources departments, and other essential parts of a functional business. A subsidiary may have its own internal organisation or alternatively may make use of the internal organisation of the parent firm.
All of the available alternatives have business-related qualities. It is necessary to produce items in order to sell them and receive payment. A firm can never subsidiary risk-free. There is always a chance of losing money due to theft, fire, natural disasters, changes in customer preferences, etc.
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beacon, incorporated reported the following amounts at the end of the first year of operations: common stock $ 304,000 sales revenue $ 1,216,000 total assets $ 912,000 dividends declared $ 62,000 total liabilities $ 490,000 what are the retained earnings of beacon at the end of the year, and what amount of expenses were incurred during the year?
Expenses incurred during the year are $80,000 in retained earnings and $680,000 in incurred expenses.
Determines the profit to be made at the end of the first year.
Retained earnings at the end of year 1
= total assets − total liabilities − paid-up capital
= $600,000 − $320,000 − $200,000
= $80,000
Determine the net profit for the first year.
first year net profit
= Retained Earnings + First Year Settlement + First Year Dividend
= $80,000 + $40,000
= $120,000
Determine the costs incurred.
accrued expenses
= Sales in the first year − Net profit in the first year
= $800,000 − $120,000
= $680,000
Retained Earnings is the company's accumulated net income or earnings after dividend payments. The term "retained", an important accounting concept, captures the fact that these earnings were not paid out to shareholders as dividends, but were instead retained by the company.
Retained earnings therefore decrease when a company makes losses or pays dividends, and increases when new profits are made.
Retained Earnings (RE) is the amount of net profit left in a company after paying dividends to its shareholders. The decision to keep profits or distribute them among shareholders is usually left to management.
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when attempting to identify the economic characteristics of the industry in which a particular firm participates an analyst might ask which of the following questions? a. does technological change play an important role in the firm maintaining a competitive advantage? b. has the firm diversified across several geographic markets? c. has the firm structured transactions to make it look more profitable than economic conditions suggest? d. has the firm recognized revenues at the proper time? g
When attempting to identify the economic characteristics of the industry in which a particular firm participates, an analyst might ask "does technological change play an important role in the firm maintaining a competitive advantage?"
The performance of new businesses entering the market is notably impacted by four aspects of industry structure: capital intensity, advertising intensity, concentration, and average company size. When compared to labor, capital intensity indicates how important capital is to the production process.
The industry analysis plan covers a broad range of information, including economic characteristics, sources of competition, driving forces, market position, competitive strategy, the attractiveness of the industry in which the company operates its businesses, and the key success factors in the industry.
Generally speaking, the industrial economy refers to those activities that combine resources like production equipment, materials, labor, and expertise to create tangible things that are meant for sale.
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what is a real rate of return? multiple choice question. it is an average rate of return on similar investments. it is a percentage change in prices of goods in the economy. it is a rate of return that has not been adjusted for inflation. it is a rate of return that has been adjusted for inflation.
The annual rate of return that is taken into account after taxes and inflation is known as the real rate of return. A nominal rate of return, on the other hand, is one that excludes taxes and inflation.
What Is the Real Rate of Return?
The annual percentage of profit made on an investment, after accounting for inflation, is the actual rate of return. Since this is the case, the real rate of return accurately depicts the true purchasing power of a given sum of money over time.
The amount of a nominal return that is real return can be determined by the investor by adjusting the nominal return to account for inflation.
Investors who want to determine real returns on their money or choose from a variety of investment possibilities must also take into account the influence of other factors, such as taxes and investing fees, in addition to accounting for inflation.
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which one of the following correctly states a purpose of the generation-skipping transfer tax (gstt)? a) to encourage the transfer of wealth to younger generations b) to discourage generation-skipping transfers by using up the transferor's gift or estate tax credit amounts more quickly c) to ensure transfer taxes are paid at each generation by transfer taxing wealth when it is transferred to a skip person d) to substitute the gstt for any gift or estate tax due on the transfer instead of imposing the gift or estate tax
Following states a purpose of generation-skipping tax: D. to substitute the gstt for any gift or estate tax due on the transfer instead of imposing the gift or estate tax.
What is generation skipping transfer tax ?The generation-skipping tax (GST), sometimes known as the generation-skipping transfer tax, forbids you from intentionally omitting your children from your estate plan in favour of younger generations in order to avoid any estate taxes that might be owed once your children pass away.
Hence the correct option is D.to substitute the gstt for any gift or estate tax due on the transfer instead of imposing the gift or estate tax.
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june 1 balance 28,000 completed and transferred to finished goods ? materials 148,905 direct labor 94,500 overhead 112,000
The journal entries to record the raw materials used in production and the direct labor cost incurred
Debit: Raw Materials Inventory = $148,905
Credit: Work in Process-Mixing Department = $148,905
A journal entry is a way to record transactions in an accounting system. These transactions are recorded in the general ledger, which serves as the backbone of a company's financial records.
To record the raw materials used in production, we will use the debit account “Raw Materials Inventory” and credit account “Work in Process-Mixing Department”.
The debit account will be increased by the amount of raw materials used in production, which is $148,905 in June, and the credit account will be increased by the same amount, reflecting the raw materials that are now part of the work in process inventory.
To record the direct labor cost incurred, we will use the debit account “Work in Process-Mixing Department” and credit account “Wages Payable”.
The debit account will be increased by the direct labor cost, which is $94,500 in June, and the credit account will be increased by the same amount, reflecting the wages owed to the workers.
Complete Question:
The June 1 work-in-process inventory consisted of 4,500 pounds with $15,020 in materials cost and $12,980 in conversion cost. The June 1 work-in-process inventory was 100% complete with respect to materials and 60% complete with respect to conversion. During June, 37,000 pounds were started into production. The June 30 work-in-process inventory consisted of 8,600 pounds that were 100% complete with respect to materials and 50% complete with respect to conversion.
Prepare the journal entries to record the raw materials used in production and the direct labor cost incurred
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a program to implement social responsibility in business begins with group of answer choices total commitment of top management. careful planning. appointment of a director. a board of directors meeting. conducting a social audit.
With the total support of top management, a programme to incorporate social responsibility in business can get off the ground.
First and foremost, high top management commitment drives TQM by establishing values, objectives, and frameworks that enhance client satisfaction and organizational performance (Senge, 1990).
Sincere top management efforts go beyond catchphrases and offer a vision and big goals that guide quality initiatives.
A management commitment denotes the senior management's direct involvement in all distinctive and crucially important programmes or features of an organization, such as safety, quality, environment, and security.
A collaborative, systematic technique called total quality management (TQM) is used to develop and carry out a continuous organizational improvement process.
Its strategy is centred on exceeding clients' expectations, detecting issues, fostering commitment, and encouraging open communication.
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a large chemical company wishes to build a new manufacturing plant. why is it more likely to be located in an area populated by minorities?
With movements occurring both within countries and across borders worldwide, migration is a genuinely global problem. According to UN DESA (2016), there are 244 million international migrants and 763 million internal migrants in the world.
International migration is largely responsible for population diversity in industrialized countries, whilst internal migration is primarily responsible for it in poor countries. Migration to "global cities," which are advanced service producers, have large economies, are international gateways, and are important political and cultural centres, is on the rise. In Sydney, London, and New York, for example, immigrants make up over a third of the population, and in Dubai and Brussels, more than half. For different cities, several elements are at work. Due to limits on immigration becoming a citizen, Dubai, for example, has a temporary population. In contrast, migration is more permanent in Brussels, where a sizable community of European nations work for the European institutions.
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two product designs are to be compares revenue potential. revenue from product a probability 0.3 and 0.7. which product would you prefer
Assuming all other factors are equal, then it would make sense to prefer Product A, as it has a higher probability of generating revenue (0.3 vs 0.7).
What is generating revenue?Generating revenue is the process of creating income through the sale of products or services. It is the primary goal of any business and is achieved by attracting customers and convincing them to buy the product or service. Revenue can also be generated through investments, grants, donations, or other sources. It is important for a business to understand the difference between revenue and profit, as profit is the amount generated after deducting the cost of production and other expenses.
It depends on a number of factors, such as the costs associated with each product, the target market of each, and the competitive landscape. Assuming all other factors are equal, then it would make sense to prefer Product A, as it has a higher probability of generating revenue (0.3 vs 0.7).
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If a business owner invests $5,000 in cash into the business, which side of the T for the cash account would the $5,000 be recorded?
a. Debit b. Credit c. Net income d. It would not be recorded because the cash comes from the owner.
According to the erosion model of organizational commitment, the employee with the fewest emotional bonds is the most likely to quit.a. Trueb. false
The given statement exists true. The employee with the fewest emotional ties is the most likely to leave, per the erosion model of organizational commitment.
What is the erosion model of organizational commitment?
According to the erosion model, employees who have less or weaker relationships with their employer are more likely to quit their jobs because they don't feel like they belong or have any involvement with the company. Using an equation that takes into account the characteristics of the pipe's material, the pace at which the sand is eroding, its characteristics as a fluid, its flow rates, and its characteristics as a fluid, the model determines the metal penetration rate by erosion. Employees with less bonds are predicted by the erosion model to leave the company at a higher rate.
When a person has an affective commitment, it means they are aware of the consequences of quitting a group and want to stay a part of it.
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in terms of economic systems, the trend has been for countries___
to be most efficient with the time you have to prepare a document, how much time should you spend on planning and revising?
It should employ a variety of approaches to convey multiple complex topics.
What is the primary function of drafting a message statement?
It ought to use a range of techniques to communicate several intricate ideas or message. To fit in with its rivals, it should develop a message that hides a company's uniqueness and worth.
You develop ideas, prepare how to substantiate them, and consider the most effective ways to structure and arrange your work throughout this phase. In order to generate ideas, the idea of "free writing" can be useful.
It's true that research is essential to the writing process since it provides the writer with data to assist them hone their message. Furthermore, the writer might save time by conducting and locating necessary research. T/F: Time savings for the writer is one advantage of thorough research in business writing.
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virtual meetings are not considered cost effective applications of data communication systems for managers. a. true b. false
This assertion is false. Thus, data verbal exchange refers to the exchange of facts between two or more networked or related devices. These gadgets have to be successful of sending and receiving facts over a verbal exchange medium.
Examples of such gadgets include private computers, cellular phones, laptops, etc.
What is the significance of records communication?All in all, facts conversation lets in organizations to minimize fees and enhance effectivity by means of sharing statistics and frequent equipment among many specific computers. At the same time, the network can also be connected through cables, smartphone lines, infrared beams, which is more cost-effective and helps to minimize the expenses.
What are three advantages of statistics communication?
Benefits of Data Communication are : secure and steady records exchange environment. joint data protection system. facts transmission in compliance with the IP data transmission protocol.
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brainly.com/question/30298775#SPJ4today, you are investing $25,000 at 6%, compounded monthly, for 10 years. how much additional income could you earn if you could have invested this amount at 7%, compounded monthly?
The additional income you earn if you could have invested this amount at 7%, compounded monthly will be $4,756.61
How to calculate the amountFrom the information, you are investing $25,000 at 6%, compounded monthly, for 10 years.
The additional income you earn if you could have invested this amount at 7%, compounded monthly will goes thus
We have to find the difference between the present value of both the scenarios.
interest rate=6%/12
period=10*12=120 months
=25000*[(1+(7%/12))^120]-[(1+(6%/12))^120]
=$4,756.61
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the last trade in the stock occurred at a price of $80. limit buy orders limit sell orders price shares price shares $79.75 400 $79.80 150 79.70 700 79.85 150 79.65 400 79.90 300 79.60 200 79.95 150 78.65 500 a. if a market buy order for 150 shares comes in, at what price will it be filled? (round your answer to 2 decimal places.) b. at what price would the next market buy order be filled? (round your answer to 2 decimal places.) c. if you were a security dealer, would you want to increase or decrease your inventory of this stock?
The maximum limit sell order price of $79.80 will be used to fill the marketplace buy order for 150 shares.
If a market buy order for 150 shares comes in, at what price will it be filled?a. The maximum limit sell order price of $79.80 will be used to fill the marketplace buy order for 150 shares.
b. The next greatest limit sell option price of $79.85 will be used to fill the next market buy order.
c. For a security dealer, the decision would be based on whether they wish to expand or contract their inventory. The dealer would sell at the maximum limit sell order price of $79.80 if they wanted to grow their inventory. The dealer would purchase at the lowest limit buy request price of $78.65 if they wanted to reduce their inventory. Other elements, such as industry trends and stock forecasts for the future, should also be taken into account.
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during 2022, guide pro corporation collected cash in advance of providing guide services totaling $5,300. during the year, the company earned service revenue amounting to $353,000, of which $318,000 was collected in cash; the balance will be collected in january 2023. what amount should the 2022 income statement report for service revenue?
The 2022 income statement should report $353,000 for service revenue. This is the amount of service revenue earned during the year, regardless of when the cash was collected.
The amount of service revenue to be reported on the 2022 income statement is $353,000. This is the total amount of revenue earned from providing guide services during the year, regardless of when the cash was collected. The fact that some cash was collected in advance and some will be collected in 2023 does not impact the recognition of revenue in the current year. The $5,300 collected in advance is considered unearned revenue and should be recorded as a liability on the balance sheet until the services are provided. The $318,000 collected in cash should be recorded as cash received in the cash flow statement.
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Granite monuments reported $69,000 net cash provided by its operating activities. it invested $2,000 in new equipment and paid $3,000 in dividends. what was granite monuments’ free cash flow?
Granite invested $2,000 in new equipment and paid $3,000 in dividends. Granite monuments’ free cash flow was $64,000.
What is Managerial accounting?
While management accounting information is meant to support managers within the organisation in making informed business choices, financial accounting attempts to give financial information to those outside the organisation.
Managerial accountants use capital budgeting to predict the likely financial inflows and outflows connected to particular business decisions. To build a new manufacturing facility, for instance, a manufacturer would first need to determine the project's total cost and expected return on investment.
It's critical to track your income and cost requirements and estimate them. The data amassed and the results displayed assist managers in making decisions.
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consider the case where a us-based company purchases stock in a french company. this component of the financial account is known as
Consider the case where a us-based company purchases stock in a french company. this component of the financial account is known as direct foreign investment.
What does "foreign direct investment" mean?An acquisition of a certain organization's stock by another foreign organisation is referred to as a foreign direct investment. Such a company or investor is situated elsewhere than the company whose interest is being bought.A foreign direct investment is a financial commitment made by a company with its headquarters in another nation to a productive asset, such as a factory, real estate, or enterprise in another country.There are basically two forms of FDI: horizontal and vertical. However, two more FDI types—conglomerate and platform FDI—have evolved. A company that engages in horizontal FDI expands its inland operations to a different nation.
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on november 15, meier company received $3,000 cash from a customer for services that were performed on november 1. on which date should the revenue be recorded under cash-basis accounting?
The correct answer to the question above is November 15. Meier Company should recode the revenue under cash-basis accounting on November 15 because on November 1 Meier Company has not received the cash yet.
On November 1 they should recode it under accrual basis accounting because they did not yet receive the money in cash and it should be taken as an accrual account.And after Meier Company receives the cash, they should move it from the accrual account into the cash account. An accrual basis account is an account that records expenses and revenue when transactions occur before the money is dispensed or received.Learn more about cash-basis accounts at: https://brainly.com/question/14947252
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a customer can order many items, and an item can be ordered by many customers is an example of a recursive relationship. group of answer choices true false
A customer can order many items, and an item can be ordered by many customers is an example of a recursive relationship. The statement is False
A relationship is recursive on the off chance that a similar substance type shows up at least a time or two. A commonplace business model is a standard, for example, "a worker oversees different representatives". The directs relationship is recursive; each occurrence of oversees will determine two representatives, one of which is viewed as a boss and the other the managed. In the accompanying graph the relationship image joins to the Representative element type two times by two separate lines. Note the relationship is one-to-many: a worker might oversee numerous representatives, and a representative might be managed by all things considered another representative.
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which of the following describes a budget line? multiple choice question. a schedule showing various combinations of three or more products a consumer can purchase at different prices. a curve showing various combinations of two products an economy can produce with a specific amount of resources. a curve showing various combinations of three or more products a consumer can purchase at different prices. a curve showing various combinations of two products a consumer can purchase with a specific amount of income.
3rd option is correct. A curve showing the various combinations of two products that a consumer with a fixed income can purchase.
A budget line indicates a combination of two products that a consumer can consume with a limited budget. An indifference curve shows combinations of two products that yield the same satisfaction. To maximize utility, consumers choose a combination of two products whose indifference curve touches the budget line.
A budget line is a graphical representation of all possible combinations of two goods that can be purchased for a given income and price, where the cost of each of these combinations equals the consumer's monetary income. A budget line is a graphical representation of all possible combinations of two goods that can be purchased for a given income and price, where the cost of each of these combinations equals the consumer's monetary income.
The budget line shows the different combinations of two goods available to the consumer given the consumer's income and the market price of the goods.
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all of the following are prevention costs except:multiple choicetraining costs.regularly scheduled maintenance.engineering and design costs.inspection costs.
The correct answer is option c. All of the following are prevention costs except engineering and design costs.
The prevention costs is referred as the expenses incurred to prevent potential problems, malfunctions, or failures from occurring.
These prevention costs are usually incurred in the early stages of a product's life cycle, before the problems actually arise. The purpose of prevention costs is to reduce the likelihood of a failures and improve the overall quality and reliability of a product or service. Some examples of prevention costs include training costs for employees, regularly scheduled maintenance, and inspection costs to ensure quality and prevent failures.
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complete question
all of the following are prevention costs except: multiple choice
a. training costs.
b. regularly scheduled maintenance.
c. engineering and design costs.
d. inspection costs.
the natural business year is a a.calendar year that ends when business activities are at their lowest point b.fiscal year that ends when business activities are at their lowest point c.fiscal year that ends when business activities are at their highest point d.calendar year that ends when business activities are at their highest point
The natural business year is a fiscal year that ends when business activities are at their lowest points.
What is a fiscal year?
Government accounting, which varies by country, uses a fiscal year (sometimes known as a financial year or, on occasion, a budget year) for these purposes. Additionally, it is employed by companies and other organisations for financial reporting. Many jurisdictions have laws requiring the preparation and publication of yearly financial reports from businesses, but they rarely mandate that the reporting period coincides with the calendar year (1 January to 31 December). Tax rules typically stipulate that accounting records must be kept and taxes must be computed annually, which typically coincides with the fiscal year used by the government.
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when a corporation liquidates, it performs three activities. what is the general order of these activities in a plan of liquidation?
The three major plans that is must be performed by the corporation in a plan of liquidation are wind up its affairs, pay debts, and distribute property to shareholders.
In the term of economic and financial accounting, Liquidation generally can be defined as the process in accounting by which a company is brought to an end. The liquidation is applied in most countries, such as in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. If a company wants to make a liquidation, The assets and property of the company are redistributed.
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Supply: Thinking Like a Seller End of Chapter Problem Edith is the owner and manager of a small coffee shop that employs three workers who use the shop's one coffee machine to make and serve coffee to paying customers. Business has begun to pick up lines are getting longer every day in her shop. On a busy morning, she sees her baristas scrambling to take orders, get cups, fill coffee from the coffee machine, add cream and sugar, and serve customers in a timely manner. She figures if she hires three more baristas she'll be able to sell twice as much coffee. a. Do you think she's likely to be right? Why or why not? Yes, more workers will increase the supply and make more coffee available for sale. No, the current workers just need better training to work more efficiently. No, more workers will just create more chaos behind the counter as the additional workers still have to wait to fill from the coffee machine. Yes, hiring more workers will mean more customers can be served. b. Adding more and more workers does not constantly increase production because of substitutes in production. diminishing marginal costs. diminishing marginal product of labor. different productivity levels between various laborers.
Three employees work for Edith's modest coffee shop, which she also manages. One coffee maker is used to prepare and serve coffee to paying customers.
How do widebody and narrow-body aeroplanes differ?Wide body aeroplanes typically have bigger wings as well, allowing them to carry more fuel to travel further. For instance, a narrow body Boeing 757-200 can only fly for roughly 5000 miles while a wide body Airbus A350-900 can travel for about 14,000 miles.
Does Boeing make widebody aircraft?Many different aircraft producers produce wide body planes. Companies like Airbus, Boeing, CRAIC, McDonnell Douglas, Lockheed, and Illyushin are among them.
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recently, you sold 1,000 shares of stock for $21,400. the sale was a short sale with an initial margin requirement of 60%. the maintenance margin is 30%. the stock is currently trading at $27.50 a share. what is your current margin position in this stock?
The position margin in this stock is 24.51%.
What is position margin?
Trades done with borrowed money are referred to as margin positions, and if the trader is unable to maintain the minimum needed margin, the position is often liquidated in order to pay back the borrowed money. The Terra LUNA scandal occurred at the same time as the huge margin position shared in May 2022.
The sales revenue was $21,400.
Initial margin deposit: $21,400 multiplied by 60% for $12,840
1,000 times $27.50 equals a short position of $27,500.
Account equity equals $21,400 plus $12,840 less $27,500
Equity on the account is $6,740.
Position Margin = $6,740 / $27,500
Position Margin = 0.2451
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the air mail act of 1934 again modified the air carrier industry. this piece of legislation contained punitive conditions for the private air carriers that were involved in the contract meeting in 1930. one of these conditions was:
Brown was granted the authority to negotiate long-term postal contracts with airlines after Congress enacted the 1930 Airmail Act with the assistance of Senator Charles McNary and Representative Laurence Watres.
What did the 1934 Air Mail Act seek to accomplish?The Air Mail Act of 1934 empowered the secretary of defense to grant the postmaster general access to military aircraft, runways, pilots, and equipment for mail delivery by air.
What was the name of the 1934 Air Mail Act?Senator Black looked at a number of ways to penalize the airlines. On June 12th, he introduced the Black-McKellar Bill, also referred to as the 1934 Air Mail Act. Its primary objective was to deconstruct the aviation holding companies, which were large corporations that contained both airlines and aircraft manufacturing firms.
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Why is capital goods important for an economic growth?
Capital goods are essential for long-term expansion in product output, or to put it another way, increases in the capacity to provide goods and services.
What are capital goods?The economic definition of a capital good is a "...series of heterogeneous commodities, each having specific technical characteristics... in the form of a durable good that is used in the production of goods or services."
Capital goods are also known as complex product systems (CoPS) and means of production.
A specific type of economic good that is tangible property is capital goods.
By accumulating wealth that can be used to purchase the means of production, a society can acquire capital goods.
A company cannot compete in the market if it is unable to create items owing to a lack of equipment.
Long-term growth in the production of products, or, to put it another way, increases in the production capacity of goods and services, depend critically on capital goods.
Therefore, capital goods are essential for long-term expansion in product output, or to put it another way, increases in the capacity to provide goods and services.
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