Free Essay

Final

In: Business and Management

Submitted By grace123
Words 1163
Pages 5
Math for Business and Finance
Examination:
06044200

1. Broom Company Bank Reconciliation as of November 1, 2009
Checkbook Balance: $4,010
Deduct bank fee for checks $12.00
Deduct bank fee for NSF $18.00
Deduct ATM withdrawl $30.00
Add Broom note collected $400.00

Reconciled Balance: $4,350.00

Bank Balance: $2,950.00
Deduct outstanding check: No. 124 $1,080.00 No. 138 $720.00
Add deposit in transit $3,200.00

Reconciled Balance: $4,350.00

2. $5.00 erasers per carton
$7.00 pencils per carton

15 cartons total for $85.00
E+P= 15
5E+7P=85
P=15-E
5E + 7(15-E) = 85
5E + 105-7E=85
105 – 2E=85
20E=2E
E=10 and P=5

10 Eraser Cartons were bought and 5 Pencil Cartons were bought

3. Price of Hamburger increased from $1.10 to $1.59
[(1.59 – 1.10) / (1.10)] * 100=
[0.49 / 1.10] * 100=
[0.44545] * 100= 44.5
The price increased up to 44.5%

4. List price on invoice = $5,000
Chain discount received by Morgan= 9/7
Freight charges paid by Lee- $150
Morgan pays Lee $4,039

5. S= selling cost
C= Cost of product
P= percent markup

S=c (1+p)
85=c (1+45%/100=1.45)
C=85/1.45= 58.62
58.62 * 45%= 26/38
58/62 + 26/38= 85
The most she could pay for the bag and still retain the 45% markup of the selling price is $58.62

6. Earning per Week = $1,200.00
Social Security Rate= 74.40
Medicare Rate= 17.40
Cumulative Wages= $6,000.00
Health Insurance = $42.50
Net Pay= $1,065.70

7. Total money Lisa Kane borrowed = $8,000.00
Interest on 60-day note= 8%
Balance she should return- $8,000 + 8% of $8,000 = $8,640.00
After 45 days Lisa paid $2,000 so amount due is $6,640
On the 45th day Lisa paid $1,000 amount due $6,640 - $1,000 = $5,640
Total interest rate = 8%

8. Money accepted by Bob for extension granting = $5,000
After 120 days money would be $5,400
Discount Rate = 9%
$5,400-$486= $4,914
Bob Acquires= $4,914

9. Deposited= $25,000
Interest Rate= 10%
After fourth year $40,000 are deposited more at the interest rate of 10%
25,000 (F/P, 6, 10%) + 40,000 (F/P, 3, 10%) = 116,025 + 132,400= $248,425
At the end of 6 years Jacob has a balance of $248,425.00

10. Roger’s Deposits= $900
Interest Rate semiannually= 6%
Number of deposits = 0
After 8 years= (900(P/A, 6%, 14))
(F/p, 6, 16)= $24,676.55
After 8 years Roger has a balance of $24,676.55

11. Dick Hercher borrowed= $7,000
Before the end of the 14 months he paid $2,660 (190*14=2660)
$7,000 - $2,600= $4,340
The final pay off Dick will pay is $4,340.00

12. Condo listed for $350,000
Net present value= $280,000
Rate of Interest 11% (0.11/12)
Number of years= 25
Annual payment= 280,000 (A/P, 11%, 25) = 33,247.27
Monthly payment= 33,247.27 / 12 = $2,770.61
Total cost he has to pay after 25 years= 280,000 (F/P, 11%, 25) = $32,034,800

13. A. Net Sales: (Gross sales – sales returns) $20,000-$700 = $20,200
B. Gross Profit: (Net sales – Cost of merchandise sold) 20,200 – 7,600 = $12,600
C. Total operating expenses: (Total of all individual expenses) 1,288 + 600 +1,650 + 2,900 + 900= $7,338
D. Net Income: (Gross profit – Total operating expenses) 12,600 – 7,338= $5,262

14. Rate = (1/10)*2= 20%
End of year Cost Depreciation Book Value at end of Yr

1 $25.000 $25.000*20% $25,000-$5,000 = $5.000 = $20,000

2 $20,000 $20,000*20% $20,000-$4,000 = $4,000 = $16,000

15. A. Number of paint sets in stock: Beginning inventory 8 sets, purchases 24 sets, sold 21 sets (8 + 24 – 21= 11) Paint sets in stock = 11 sets
B. Cost of ending inventory under LIFO: 8(1.25) = $10.00, 3(1.50) = 4.50 (10.00+4.50=14.50) Ending inventory = $14.50
C. Cost of ending inventory under FIFO: 1(2.50) = 2.50, 10(3.00) = 30.00 (30.00+2.50=32.50) Ending inventory = $32.50
D. Cost of ending inventory under Weighted Average: 3(1.50) = 4.50 5(2.00) = 10.00 6(2.50) = 15.00 8(1/25) =10.00 10(3.00) = 30.00
Total Cost= 69.50
Average cost per set: (69.50/32) = $2,172
Weighted Average: (11 * 2,172) = $23.89

16. Property tax= Assessed value * mill rate
1,000= (114,500 * 40)/ 1000 = $4,580
Pete’s property tax is $4,580.00

17. Total damages= $600+$1,800+$13,000+$8,000= $23,400
Jim has to pay the $200 deductible
Jim has to pay $3,000 for the amount over $10,000 that was paid to the first passenger.
Jim’s share of responsibility is $3,200
The insurance company pays $20,200 (23,400-3,200)

18. Cost basis: (22.35*200)*1.02= $4,559.40
Sales proceeds: (21.76*200) * (1-0.02) =$6,224.96
Net profit: 6,224.96-4,559.40=1,665.56
8 month return: 1,665/4,559.40= 36.53%

19. Sullivan Realty sales mean & median:
99,000
109,000
126,000
158,000
160,000
175,000
182,000
185,000
189,000
210,000

Mean: 1,593,900 / 10= 159,390
Median: 160,000 + 175,000 / 2 = 167,500

20. Price of Al’s garage: $3o0,000
Fire insurance policy: $180,000 that contains an 80% coinsurance clause
Damage done $210,000, 80% of that = $168,000
Insurance company will have to pay $180,000

21. Total cost of boat: $19,500 + $2,500 = $22,000
Total monthly installments: 36
Per month installments: $22,000/36= $611.11
So, Earl can afford to pay $611.11 a month

22. Peter sold 400 oatmeal for (1.50) Wheat for (2.00) Total sales = $700
2x + [1.50(400-x)] =700
2x + 600-1.50x= 700
0.5x=100 x=200
400-200=200
Pete sold a total of 200 oatmeal and 200 wheat

23. 5% discount = $750
Balance= $14,250
8% discount= $1,140
Balance= $13,110
3% discount= $393.30
Balance payable= $12,716.70
Add the freight payable $200
Total = 12,916.70

24. Mobile oil company 120 day note: $10,000
Interest rate to settle a past due accounts: 8.5%
Discount rate: 9%
Mobilee oil receive proceeds: $10,149.65

25. Amount needed by Ray to retire comfortably: $130,000
Invest today to meet goal: $130,000 (p/f, 14%, 40) = $650.00

Similar Documents

Premium Essay

Final

...HCA 341 HEALTHCARE FINANCIAL MANAGEMENT STUDY SHEET FOR FINAL EXAM Spring 2013 Dr. Sinay FINAL EXAM Final Exam is scheduled for Wednesday, May 15, 2013 at 5:00 to 7:00. BRING YOUR FINANCIAL CALCULATOR. MANY PROBLEMS WILL REQUIRE THE USE OF YOUR FINANCIAL CALCULATOR!! POTENTIAL TOPICS FOR MULTIPLE CHOICE QUESTIONS This is a list of potential topics and problems that could appear in the final exam. To emphasize the point this list is not an all-inclusive list of potential topics and problems for the final exam. There may be other questions and problems in the exam that are not listed here. These topics and problems listed here are more likely to appear in your final exam. Please study all course material available to you including your textbook. Chapter 7 1. Full cost pricing, marginal cost pricing and target costing 2. Types of approaches to setting managed care plan rates Chapter 8 3. Definition of budgeting and types of budgets 4. Top down budgets versus bottom-up 5. Conventional versus zero based budgets 6. Static versus flexible budget 7. Variance analysis, including flexible budget and actual budget. Why and how? 8. The Cash budget Chapter 9 9. Compounding/Discounting Questions. What is the definition of a. Present Value of a Future Sum b. Future Value of a Present Sum c. Present Value of Annuities d. Future Value of Annuities 10.......

Words: 1110 - Pages: 5

Premium Essay

Final

...Final Paper Paul Rosaschi MGT-337 Western International University Final I would like to do my final paper on a great leader; Abraham Lincoln, our 16th president. I believe he was a good leader because he possessed many qualities that qualified him as great leaders here are a few qualities he had: Capacity to Listen to Different Points of View Ability to Learn on the Job Ready Willingness to Share Credit for Success Ready Willingness to Share Blame for Failure Awareness of Own Weaknesses Ability to Control Emotions Know How to Relax and Replenish. Go Out into the Field and Manage Directly Strength to Adhere to Fundamental Goals Ability to Communicate Goals and Vision All these qualities I believe would have translated to any supervisory role he could occupy. While I think the presidency was what he was meant to do, these skills are vital to a successful leader. I am interested in him as a final paper because of everything he accomplished during his life, which was ended too soon. I will write about his success as well as his failures before and during his term.  Abe Lincoln could debate. Think about leaders and think about how they do with pubic speaking. Do we consider George W. as a good leader? No. But he can't speak either. Hitler was horrible man, but why did a whole country follow him. He could speak and articulate ideas......

Words: 272 - Pages: 2

Premium Essay

Final

...Final Paper Barn Burning Heather Thomas Indiana Wesleyan University ENG-242 Mack Armstrong February 26, 2013 I have read and understand the plagiarism policy as outlined in the syllabus and the sections in the Student Bulletin relating to the IWU Honesty/Cheating Policy. By affixing this statement to the title page of my paper, I certify that I have not cheated or plagiarized in the process of completing this assignment. If it is found that cheating and/or plagiarism did take place in the writing of this paper, I understand the possible consequences of the act/s, which could include expulsion from Indiana Wesleyan University. Final Paper: Barn Burning In the short story, “Barn Burning,” William Faulkner wrote to show us the uncertainty of our individual futures. In many instances, author’s write from personal experience and perspectives, and like stated in our assignment description, they write, “both as reflections of and influences upon their culture.” Here, Faulkner gives us a safe look at the different classes of people in the Old South, where race, monetary value and differences in social class are all derivatives of his purpose. The thesis of “Barn Burning” is implied throughout the story. In my own words, the thesis of this story is given through the analysis of a young and impressionable boy who struggles between moral choices of family loyalty and the moral expectancy of civic justice. In this essay, I will identify and discuss literary......

Words: 1622 - Pages: 7

Premium Essay

Final

...workers to be able to see what they need to get done in a different manner, and can even provide a greater focus. Visual management is a big part of Autoliv’s system because they depend on each employee recognizing when there is a problem and correcting it as soon as possible, which helps eliminate waste. In a lean system, a business has to reorganize any process that creates waste or even eliminate it. So, each employee has different responsibilities, which has to be done in a certain time and also relies on the quality of the product. 2. Autoliv’s JIT delivery systems have been designed to accommodate each individual customer’s needs. They have low inventory levels but they have rapid delivery services. They JIT requires that they do final assembly and then they can rapidly deliver to their customers. 3. 4. 4. Experiential Learning: Swift Electronic Supply, Inc. (from chapter 9 on supply chain inventory management; pages 341-343; questions 1-2 only) 5. Active Model Exercise for chapter 11 (on supply chain location decisions; page 410) 6. Active Model Exercise for chapter 15 (on operations planning and scheduling; page 538) 7. Explain the concept of MRP (from chapter 16 on resource planning), including under what situations MRP is most useful and if/when MRP might not be beneficial, and include examples of MRP from your workplace.  MRP is a computerized information system developed specifically to help manufacturers manage dependent demand......

Words: 727 - Pages: 3

Premium Essay

Final

...Final Project Milestone Four: Final Project Southern New Hampshire University Personal Identity Statement: I was born and raised in Dalzell, South Carolina where she knew from a small age that she would be someone important, where it was in radio, writing or photography. She knew that she would have her hands in the media in some shape or form. Growing up as a child and to this day, I am dependable, loving, dedicated, goal-oriented, creative, detail-oriented, a singer, a writer, a helper, and a most importantly I am a photographer. Although I am not a professional photographer, I am dedicated and love what I do. Photography to me tells a story that no one else knew happened, even if you were there in the picture yourself. I’m a former newspaper reporter trying to work as a photographer. I worked for the Benedict College Tigers school newspaper as a news reporter and editor for two years, as an entertainment reporter. I’ve spent a lot of time perfecting my craft of photography since I graduated from Benedict College. Along with perfecting my craft, I have shot for different occasions such as weddings, birthday parties, anniversaries and engagements. I also served on the newsletter for an LGBT Greek organization, Phi Nu Kappa Sorority, Inc., for a year. While working on the Benedict College newspaper, I was able to work with other students from Prairie View University during the Historically Black Universities and College National Journalist Conference. While working......

Words: 1812 - Pages: 8

Premium Essay

Final

...May Bumar Final Examination – Essay Format. 1. Define business and discuss the role of business in the economy? Business: An organization or enterprising entity engaged in commercial, industrial or professional activities. A business can be a for-profit entity, such as a publicly-traded corporation, or a non-profit organization engaged in business activities, such as an agricultural cooperative, (Investopedia) Business is a crucial part of the economy. Without businesses there would be no revenue for the government to collect taxes and perform the daily activities necessary for our environment. Our government depends on the businesses to bring in money. If there were no businesses whether it is a small business or a large corporation, our economy would suffer. 2. Define economics and discuss the evolving global economic crisis? Economics: A social science that studies how individuals, governments, firms and nations make choices on allocating scarce resources to satisfy their unlimited wants. Economics can generally be broken down into: macroeconomics, which concentrates on the behavior of the aggregate economy; and microeconomics, which focuses on individual consumers. (investopedia) The global economic crisis was caused by improper use of foreign money. The government failed to regulate this activity so mortgages, hedge funds, investments were all affected. This is an ongoing situation with our economy because we are still borrowing money that we......

Words: 899 - Pages: 4

Premium Essay

Final

...Visual Communication in the Media “Final Draft” John Mingee Rasmussen College Author Note This research is being submitted on December 7, 2012, for Diane Bohacek G332/MMC3407 Section 02 Visual Communication in the Media - Fall 2012 at Rasmussen College by John Mingee. I. The popular social media powerhouse “Facebook” has become so popular among so many and crosses cultural boundaries with ease. This media source has surprisingly captured the attention of all ages, cultures, and reaches across nations. The social media phenomena is very new to society and has impacted more lives with its abilities than many other media has done in centuries. Facebook is very interesting and useful for not only ones personal fun and communication, but also as a means for staying connected with the news. Yes, even other media has become a fan of social media and this is amazing as so many competitive media have all been drawn to social media sites such as Facebook because of its popularity and demand with consumers. The ability to communicate and share instantly has become so popular in this society of instant desire and this has helped to propel Facebook to be one of the most popular and desired social media sources for individuals and businesses alike. I was not a strong proponent of social media in the early stages when sites such as “My Space” launched. As time went on and technology improved and the social media phenomena took hold, I fell prey to my curiosity and jumped...

Words: 1529 - Pages: 7

Premium Essay

Final

...CSEC 630 Final Exam - 100 points . Maximum length answer for each question should be limited to approximately 800 words (2 pages) excluding diagrams, illustrations or other addendum. You are not required to use APA formatting. I expect the response to immediately follow the question as follows: 1. Describe… Response 2. Discuss… Response And so forth… ---------------------------------------------------------------------------------------------------------- FINAL EXAM ABC HEALTHCARE CASE BACKGROUND Healthcare companies, like ABC Healthcare, that operate as for-profit entities, are facing a multitude of challenges. The regulatory environment is becoming more restrictive, viruses and worms are growing more pervasive and damaging, and ABC Heathcare’s stakeholders are demanding more flexible access to their systems. The healthcare industry is experiencing significant regulatory pressures that mandate prudent information security and systems management practices. Furthermore, the continued pressure to reduce cost requires that management focus on streamlining operations, reducing management overhead and minimizing human intervention. The regulatory focus at ABC Healthcare is on the Health Insurance Portability and Accountability Act (HIPAA) and Sarbanes-Oxley (SOX). Both pieces of legislation highlight the need for good systems administration and controls, but focus on different aspects of the business. The main focus of HIPAA is to......

Words: 830 - Pages: 4

Premium Essay

Final

...Exp:105 Final Assignment Final Reflection Dameon Martin Learning is your life experiences. Learning is retaining retaining knowledege you did not have before. Critical thinking is also apart of learning. Learning have changed a lot since the internet because you have access to infomation that wasn't assessible before. My views of learnig have changed because,before I thought learning was gaining new knowledge. Now I know its much more than that. Critical thinking is a big part of learing the way you interpt what you read helps you retain knowledge. Learning envolves your life experiences that build your social skills and how to take direction. I am a strong-willed learner. I sometimes make my own rules than follow them. I use all my learning patterns i don't avoid any. My Learning Pattern scores are Sequence 32 Percision 32 Technical 27 Confluence 21. I use sequence first as I always do things in order and I dont like clutter. I use percision first as I always ask alot of questions and need an explanation for everything. I use technical reasoning first as I like to work alone and build anything. I use confluence as needed as I brainstorm before starting a task and to create things from the top of my head. All four of my patterns interact like before starting a task I brainstorm ideas then I get the information I need. That I put everything in order then draft what I have to do. The benefits of using my learning patterns.Is using sequence on assignments is have everything in......

Words: 670 - Pages: 3

Free Essay

Final

...Final Exam - Essay Part Allow yourself a half hour each or two total at the most to write these essays. Submit in the dropbox. Do not send them as an attachment in an e-mail. Put them in one document with proper citations, and add the words "final essays" in the subject heading. Check your content, grammar, and spelling. It is most important that you cite specific examples from the video that show you watched it. You should refer to the lessons learned from lectures and reading assignments. This is the final writing assignment of the course and makes up half of the twenty percent on the final. The other half is from the online multiple choice comprehensive exam. I hope you enjoyed the class and learned a great deal. Due no later than the deadline listed in the schedule of assignments and in the syllabus under course information. Glenda In four brief, but well-written, essays, discuss each one of the following topics from watching the video of Tennessee Williams' "The Glass Menagerie." 1. Protagonist and Antagonist Whom would you describe as the protagonist and antagonist of this play? Why? What conflict is resolved between them? Remember the resolution always helps identify the protagonist and antagonist. 2. Technical Elements Discuss the setting of the video. How did it differ from what you might have seen on stage instead of on film? What, if any, significance did costume choices play in the production? 3. Idea What was the idea that Williams wanted us to......

Words: 319 - Pages: 2

Premium Essay

Final

...SO 141 - Introduction to Sociology SO 141 - Final Exam - Review Document [pic] Important Things to Keep In Mind! • You will have two (2) hours to complete the exam. This review includes all of the areas you need to study and review for the exam. • There are 100 multiple choice questions; each question is worth two (2) points, thus 200 points possible for the entire exam. • This is ALL you have to study for the Final Exam. The number of “bullet” points under each chapter is the number of questions for that chapter – and they are the topics for each question from that chapter. In essence this document IS the Final Exam – without specific answers and of course the answers ( • The exam will be "scaled" in the sense that your scores will be compared to others, so the normal “90% = A” will not be the hard fast rule at all. So don't be overwhelmed by the test, just do your best and let me worry about "the grade." • You will take the exam online, during Week 8, just like all of the quizzes you have taken. Below is the list of EACH chapter and the topics, theories, and theorists to study for the Final Exam. EVERYTHING that appears on this list WILL be on the exam and there will be NO surprises on the exam, study this and you should do just fine. |WEEK |CHAPTER |TOPICS TO STUDY | |Week 1 |Chapter. 1: The Sociological Perspective ...

Words: 861 - Pages: 4

Premium Essay

Final

... Umajesty Allah 6/26/15 PSY 104 Child and Adolescent Development (Instructor: Suzanne Little) Week 5 Final Paper Name of center: Making a Difference! Human development covers a large selection of human behaviors that have been studied since the beginning of psychology in order to understand the full potential of humans and the way that they think, learn, and behave. Sigmund Freud has been predominantly influential in the study of human development and is the father of psychodynamics and the first to study human development and the inner working of the mind and since then child development has become a crucial aspect in virtually every field of psychology due to several influencing factors on childhood growth and experience (DeVitis, 2011). The stage theories are significant tools in understanding the psychology of human development. Each theorist offers logically uncomplicated justifications of human behavior. However, unanswered questions still arise as to how accurate a theory based on characterizing human behavior in general can be when applied to one particular individual. This paper will discuss and compare the evolutionary/Sociobiological, learning, and psychoanalytical theories and their similarities and differences in the overall development of the child (Savania, & all). Sigmund Freud who is often the most well-known person in the field of......

Words: 2867 - Pages: 12

Premium Essay

Final

...POLYTECHNIC UNIVERSITY OF PUERTO RICO GRADUATE SCHOOL GRADUATE PROGRAMS IN MANAGEMENT MEM 6110 – ENGINEERING MANAGEMENT I WINTER 2015 TRIMESTER Final Project Instructions & Guideline I. Instructions for Final Project: 1. Make reference to the list presented on page 2 of this document, there you will find a list with different companies. Each student will select one (1) company to conduct the work required as part of this final project. Conduct a literature research including but not limited to text books and journals: i. After identifying and selecting your desired company from the list in page 2 follow these instructions: 1. Conduct a criticality analysis of your selected company. The criticality analysis should be from the managerial standpoint describing the company origins, operations and their correct or incorrect application of the management functions: Planning and Organizing. You can perform your initial search in Fortune 500 Journal and start from that point your research. 2. The project must contain but is not limited to the following sections: ii. Introduction iii. Definition of key topics. iv. Company Planning and Organizing Approaches v. Discussion. vi. Conclusions vii. Bibliography II. The project should not have more than 15 pages, Spanish or English. III. Use adequate references [e.g., journals or text books]. Company websites or financial......

Words: 349 - Pages: 2

Premium Essay

Final

...The Final Journal Please complete and return this form to the Externship Office at the end of your placement. This is a more structured report which will prompt you to reflect on specific issues. You will be responding to questions relating to: * employee integration * teamwork * managerial style * corporate culture * organizational challenges/issues * personal growth This report should take no more than 3 hours to complete. Feel free to hand-write it in the spaces provided alongside each question. 1. In this industry plagued with high labour turnover, employee integration is an important employer capability. Please list three manners in which the management team has tried to connect with employees in an effort to make them feel comfortable in the workplace and comment on the effectiveness of these strategies. 2. It is often stated that the whole can be greater than the sum of its parts. Successful team-building, then, can provide a significant competitive advantage. Comment on the steps taken to foster teamwork and your organization’s success with this initiative. 3. By now you probably have been exposed to the styles and habits of a multitude of shift leaders, supervisors, and managers. Some of these individuals are likely to be considered more capable than others. List 5 characteristics that contribute to the effectiveness of a “boss”. 4. Managers are often rated on their task-orientation and on......

Words: 487 - Pages: 2

Premium Essay

Final

...Ann-Marie Cheney Final assignment EXP 105 Before taking this class if I someone asked me to explain learning to them I would have given them a generic dictionary answer. I would have said that learning is something that is ongoing and is acquired through different experiences, a lot of studying, and from being taught. Now that I have taken this class I know that there is so much more to the learning process. I know that there is reasoning to why some people learn in different ways it has to do with the four learning patterns; sequence, precision, technical reasoning, and confluence. The way that each of us learn is measured by the way we use these patterns, once we are aware of how we use each learning pattern we can truly grow as individuals and push ourselves to higher limits when we are in different situations. With the knowledge of how you instinctively learn you can reach a higher comprehension of learning by learning intentionally. I am defined as a dynamic learner, which means I use at least one of the patterns in first use level and the remaining of the patterns as needed or I avoid them. When I took my LCI test in which my scores are (S22, P26, TR20, C22). I learned that I use precision in the first use level and the rest of the learning patterns (sequence, technical reasoning, and confluence) at the as needed level. Having precision be my first use level I tend to find knowing every detail and asking millions of questions a vital part of me learning. ......

Words: 919 - Pages: 4