Write a one-and-a-half-page essay (double spaced, Times New Roman font size 12) explaining what happens to the market of scrapbooking stickers if the price of scrapbooks decreases. Scrapbook stickers and scrapbooks are complements and suppliers can easily supply both. In your essay, explain why and how the demand or supply (or both) change, what happens immediately after the shift before a new equilibrium is reached, and what happens to the new equilibrium price after the shift. Assuming the new equilibrium quantity increases, explain who the change in the price of scrapbooks affected the most: consumers or suppliers. Your essay must include a conclusion paragraph and must be well written with little to no grammatical errors.

Edward signs a 30 year mortgage at 3.5% compounded monthly. The price of his house is $200,000. He makes a down payment of 40,000. Answer the following:

What will be his monthly payments?

After 5 years, he makes a one-time payment of $50,000 (against the remaining principle). How many months will he have remaining on his mortgage? To avoid any confusion, he will have exactly 25 years remaining before he makes the $50,000 in payment.

Edwards decides that instead of reducing the NPER after making the $50,000, he requests the bank to keep the NPER to 25 years and reduce his monthly payment instead. What will be his monthly payment going forward?

A construction company is considering acquiring a new earthmover. The purchase price is ​$110,000​, and an additional ​$25,000 is required to modify the equipment for special use by the company. The equipment falls into the MACRS​ seven-year classification​ (the tax​ life), and it will be sold after five years​ (the project​ life) for $50,000. The purchase of the earthmover will have no effect on​ revenues, but the machine is expected to save the firm $68,000 per year in​ before-tax operating​ costs, mainly labor. The​ firm's marginal tax rate is 25​%. Assume that the initial investment is to be financed by a bank loan at an interest rate of 10% payable annually. Determine the​ after-tax cash flows by using the generalized cash flow approach and the worth of the investment for this project if the​ firm's MARR is known to be 12%.

Two cars collide at an intersection. Car A, with a mass of 2000 kg , is going from west to east, while car B, of mass 1300 kg , is going from north to south at 17.0 m/s . As a result of this collision, the two cars become enmeshed and move as one afterwards. In your role as an expert witness, you inspect the scene and determine that, after the collision, the enmeshed cars moved at an angle of 65.0 ∘ south of east from the point of impact.

Part A: How fast were the enmeshed cars moving just after the collision?

v=_____________m/s

Part B: How fast was car AA going just before the collision?

Va=_____________m/s

On June 1, 2017 Mario entered into a contract to sell real estate for $1 million (adjusted basis $200,000). The sale was conditioned on a rezoning of the property for commercial use. A $50,000 deposit placed in escrow by the purchaser was refundable in the event the rezoning was not accomplished.

After considerable controversy, the rezoning application was approved on November 10, and two days later, $950,000 was paid to Mario’s estate in full satisfaction of the purchase price. Mario had died unexpectedly on November 1. Discuss the estate and income tax consequences of this set of facts if it is assumed that the sale of the real estate occurred:

a. After Mario’s death.

b. Before Mario’s death.

When do you think the sale occurred? Why?

Blocks A (mass 2.00 kg ) and B (mass 12.00 kg , to the right of A) move on a frictionless, horizontal surface. Initially, block B is moving to the left at 0.500 m/s and block A is moving to the right at 2.00 m/s. The blocks are equipped with ideal spring bumpers. The collision is headon, so all motion before and after it is along a straight line. Let +x be the direction of the initial motion of A.

Find the maximum energy stored in the spring bumpers.

Find the velocity of block A when the energy stored in the spring bumpers is maximum.

Find the velocity of block B when the energy stored in the spring bumpers is maximum.

Find the velocity of block A after the blocks have moved apart.

In C language,

Write a program called minishell that creates two child processes:
one to execute 'ls -al' and the other to execute ‘grep minishell.c’.

After the forks, the original parent process waits for both child processes to finish before it terminates. The parent should print out the pid of each child after it finishes. The standard output of 'ls -al' process should be piped to the input to the 'grep minishell.c' process. Make sure you close the unnecessary open files for the three processes. The output should be the one line that includes the directory entry for minishell.c. You will need to call the source file minishell.c for this to work properly.

Please comment thoroughly so i can follow the logic.

A young couple wants to have a college fund that will pay $30,000 at the end of each half-year for 8 years.

(a) If they can invest at 6%, compounded semiannually, how much do they need to invest at the end of each 6-month period for the next 18 years to begin making their college withdrawals 6 months after their last investment? (Round your answer to the nearest cent.)

(b) Suppose 8 years after beginning the annuity payments, they receive an inheritance of $34,000 that they contribute to the account, and they continue to make their regular payments as found in part (a). How many college withdrawals will they be able to make before the account balance is $0? (Round your answer to the nearest whole number.)

Item 8

Item 8

Loaded-Up Fund charges a 12b-1 fee of 1% and maintains an expense ratio of 0.65%. Economy Fund charges a front-end load of 2%, but has no 12b-1 fee and an expense ratio of 0.35%. Assume the rate of return on both funds’ portfolios (before any fees) is 10% per year.


a. How much will an investment of $100 in each fund grow to after 1 year? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

b. How much will an investment of $100 in each fund grow to after 3 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Questions 9 and 10

DATE: June 1, 2020

TO: CCSU Consulting

FROM: Mark Swain, President, Tommy’s Box Cars

SUBJECT: Master Budget for the fiscal year July 1, 2020 – June 30, 2021

----------------------------------------------------------------------------------------------------------------------------------

Our controller, Tommy Swain is negotiating with potential new Wood suppliers in Kentucky. We need the Large Box Car Division’s Master Budget for the fiscal year ended (36) June 30, 2021 for our corporate strategic planning process, and we cannot wait for Tommy’s return from Kentucky. We would like you to prepare the Large Box Car Division’s Master Budget for the fiscal year ended June 30, 2021.

The deliverables are as follows:

1. Sales budget, including a schedule of expected cash collections.

2. Production budget.

3. Direct materials budget, including a schedule of expected cash disbursements for materials.

4. Direct labor budget.

5. Manufacturing overhead budget.

6. Ending finished goods inventory budget calculating the expected value of the finished goods inventory as of (36) June 30, 2021. *

7. Selling and administrative expense budget.

8. Cash budget.

9. Budgeted income statement for the year ended (36) June 30, 2021. *

10. Budgeted balance sheet for (36) June 30, 2021. *

All the Master Budget schedules except those marked with an asterisk for the Large Box Car Division should include a column for each quarter and a total column for the fiscal year. We only need annual totals for the budgeted financial statements (schedules 9 and 10) and we only need a year-end total for the value of finished goods inventory (schedule 6).

The hard copies of these budget schedules should be delivered by the company deadline. You can print more than one schedule per page, but do not have a page break in the middle of a budget schedule. I like to be able to view an entire budget schedule without flipping back and forth between pages. Please also use a type font of between 10-12 points for printing. We also need you to submit (via e-mail) the Excel spreadsheet that you used to create the budget schedules you print so we can use the spreadsheet as a starting point for future budgets. Upload the Excel spreadsheet on Blackboard. We need that spreadsheet file the night before the meeting.

I’ve attached a brief description of the Large Box Car Division to the budget data Tommy gave me before he left for Kentucky. We eagerly await your results.

Sincerely,

Mark

Mark Swain

During 2019-20 fiscal year, the average selling price for large box cars is expected to be (1) $130 per car. The Large Box Car Division forecasts the following units of sales.

Quarter First Second Third Fourth

Box Car UNIT Sales (2-5) 65,000 70,000 55,000 60,000

The collection pattern for Accounts Receivable is as follows:

o (6) 30 percent of all sales are collected within the quarter in which they are sold

o (7) 70 percent of all sales are collected in the following quarter.

o There are no bad debts/uncollectible accounts.

Due to high demand last year, the Large Box Car Division expects to have (8) zero finished box cars in inventory on (35) July 1, 2020, the beginning of the first quarter of the new fiscal year (i.e. Beginning Finished Goods Inventory is (8) Zero). To avoid having that problem in the coming fiscal year, the Large Box Car Division would like to have the ending inventory of Box Car at the end of each of the first three quarters equal to (9) 30% of the budgeted sales for the next quarter. They would like to have (10) 35,000 finished Box Cars on hand on (36) June 30, 2021.

Quarter First Second Third Fourth

Ending FG inventory of Box Cars as a

% of the next quarter’s budgeted

sales (9) 30% 30% 30% ?

Ending FG inventory of Box Cars (10) ? ? ? 35,000

Each large box car requires an average of (11) 5.0 feet of wood. The Large Box Car Division buys wood for (13) $4.00 per foot and they expect the price to remain constant throughout the year. They expect to have (12) 50,000 feet of wood (RAW MATERIALS) on hand as of July 1, 2019 ((12) 50,000 * ((13) $4.00 = (14) $200,000 - This is beginning Direct Material Inventory), the beginning of the first quarter of the fiscal year. At the end of each of the first three quarters, the Large Box Car Division would like to have their direct materials inventory quantity to equal (15) 25 percent of the amount required for the following quarter’s planned production. On (33) June 30, 2020, the end of the fiscal year, Large Box Car Division would like to have (16) 60,000 feet of wood on hand (This is ending Direct Material Inventory)..

Quarter First Second Third Fourth

Ending DM inventory as a % of the

next quarter’s production

requirement (15) 25% 25% 25% ?

Ending DM inventory in feet (16) ? ? ? 60,000

The Large Box Car Division buys its wood on account. It pays for (17) 35% of its purchases of direct materials in the quarter in which they were purchased and (18) 65% in the quarter after they were purchased.

Each large box car requires (19) 5 hours of direct labor. Employees engaged in direct labor will be paid an estimated (20) $10.00 per labor hour. Wages and salaries are paid on the 15th and 30th of each month.

Variable manufacturing overhead is estimated to be (21) $4.50 per direct labor hour for the coming fiscal year. All variable manufacturing overhead expenses are paid for in the quarter incurred.

Fixed manufacturing overhead is estimated to total (22) $120,000 each quarter, with (23) $40,000 out of the total amount of (22) $120,000 representing depreciation on machinery, equipment and the factory. All other fixed manufacturing overhead expenses are paid in cash in the quarter they occur. The fixed manufacturing overhead rate will be computed by dividing the year’s total fixed manufacturing overhead by the year’s budgeted direct labor hours. Round the fixed overhead rate to the nearest penny.

Variable selling and administrative expenses are estimated to be (24) $12.00 per box car sold. Fixed selling and administrative expenses are expected to total (25) $95,000 each quarter, with (26) $30,000 out of the total amount of (25) $95,000 representing depreciation on the office space, furniture and equipment. Other than depreciation, all selling and administrative expenses are paid for in the quarter they occur.

On (33) June 30, 2020 the Large Box Car Division plans to buy new machinery and equipment for (27) $1,000,000. The new machinery and equipment will be acquired at the very end of the fiscal year, so it will not be used in production and sales during the coming year and it will not be depreciated until the following year. The Large Box Car Division expects to pay (28) 40% down in cash and finance the remaining (29) 60% of the equipment cost with a note payable from a local bank with whom they do business with. No interest payable will accrue on the equipment note payable until after (33) June 30, 2020.

The Division must maintain a minimum cash balance of (30) $100,000. If after accounting for cash receipts and disbursements (including dividends) in the cash budget, the budgeted cash available cash falls below (30) $100,000 in any quarter, the Division will need to borrow cash. They have arranged a line of credit allowing it to borrow in $10,000 increments (i.e. they can borrow $10,000 or $20,000 etc. but not an odd amount). Assume borrowing will take place at the beginning of any quarter in which the available cash would otherwise be below (30) $100,000 so that at no time during the quarter will the cash balance fall below (30) $100,000 (after payment of interest). If there is extra cash at the end of the quarter and there is borrowing outstanding, the division should pay down principal (also in increments of $10,000). The bank charges the Division interest at the rate of (31) 3% per quarter. Interest accrued in the quarter will be paid the first day of the next quarter (e.g. Q1’s interest is not paid in cash until Q2 and Q2’s Interest will be paid in Q3).

As a fully owned subsidiary, the Large Box Car Division does not pay income taxes. All income taxes are charged to Tommy’s Box Car’s, the parent company. Large Box Car Division will pay dividends of (32) $50,000 each quarter to its corporate parent, Tommy’s Box Car’s. The dividends must be paid, even if the Large Box Car Division has to borrow on its line of credit to make the payment

The budgeted balance sheet for the Large Box Car Division on (34) June 30, 2020 (which is the same as the budgeted balance sheet at the beginning of business (35) July 1, 2020) is presented below. Tommy’s Box Cars owns 100% of the Capital Stock of the Large Box Car Division.

LARGE BOX CAR DIVISION – TOMMY’S BOX CARS

BUDGETED BALANCE SHEET

(34) JUNE 30, 2020

ASSETS LIABILITIES & EQUITY

Cash $1,450,000 Accounts Payable $450,000

Accounts Receivable 3,900,000 Notes Payable 0

Raw Material Inventory (14) 200,000 Capital Stock 3,500,000

Plant and Equipment 8,900,000 Retained Earnings 10,550,000

TOTAL ASSETS $14,450,000 TOTAL LIAB. & SE $14,550,000