Answer:
$500
Explanation:
Since adjusted trial balance is often prepared at the end of an accounting period in which based on the information given the supplies in inventory is on the last day of the accounting period in which only the amount of $500 of supplies was remaining in the supply cabinet, therefore the amount to be
reported in the SUPPLIES ACCOUNT in the Adjusted Trial Balance section of the worksheet
prepared on December 31 will be $500 of supplies remaining in the supply cabinet.
Macrozine Inc. provides support for employees faced with ethical dilemmas. An ethics compliance officer is available in the Human Resources office or through an employee hotline. This is an example of ethical:_________
a. reasoning
b. awareness
c. whistle-blowing
d. action
Answer:
d. action
Explanation:
In Business, this would be an example of ethical action. These are actions that companies take in order to prove that they are committed to their employees. Especially making sure that they are safe, respected, and mentally/emotionally good within the work environment. By providing such services such as an employee hotline and a HR department they are providing resources for the employees to voice their concerns and needs in case of any dilemma in the company.
Davis-Bell Corporation has an activity-based costing system with three activity cost pools - Machining, Setting Up, and Other. The company's overhead costs have already been allocated to the cost pools and total $5,800 for the Machining cost pool, $4,700 for the Setting Up cost pool, and $7,500 for the Other cost pool. Costs in the machining cost pool are assigned to products based on machine-hours (MHs) and costs in the Setting Up cost pool are assigned to products based on the number of batches. Costs in the Other cost pool are not assigned to products. Data concerning the two products are below: MHs Batches Product Z7 3,800 700 Product K9 6,200 300 Total 10,000 1,000 Calculate activity rates for each activity cost pool using activity-based costing. Determine the amount of overhead cost that would be assigned to each product using activity-based costing.
Answer and Explanation:
The computation is given below:
Calculation of Activity Rates
Cost Pool Cost Driver Cost Activity Rate
Machining Machine Hours $5800 $0.58 (5800 ÷ 10000)
Setting Up Batches $4700 $4.70 (4700 ÷ 1000)
Calculation of Overhead Cost to each Product:
Particulars Product Z7 Product K9 Total
Machining $2204 ($0.58 × 3800) $3596 ($0.58 × 6200) $5800
Setting Up $3290 ($4.7 × 700) $1410 ($4.7 × 300) $4700
$5494 $5006 $10500
Yams Company reports the following operating results for the month of August: sales $400,000 (units 5,000), variable costs $240,000, and fixed costs $90,000. Management is considering the following independent courses of action to increase net income.
1. Increase selling price by 10% with no change in total variable costs or units sold.
2. Reduce variable costs to 55% of sales.
Required:
Compute the net income to be earned under each alternative. Which course of action will produce the higher net income?
Answer:
Yams Company
Alternative 1: Increasing the selling price by 10% with no change in total variable costs or units sold will produce the higher net income.
Explanation:
a) Data and Calculations:
Total Unit Quantity
Sales for the month of August = $400,000 $80 5,000
Variable costs = $240,000 48 5,000
Fixed costs = $90,000
Alternatives to increase net income:
Alternative 1 Alternative 2
Sales revenue $440,000 $400,000
Variable costs 240,000 220,000
Contribution margin $200,000 $180,000
Fixed Costs 90,000 90,000
Net income $110,000 $90,000
Coke and Pepsi are examples of
Coke and Pepsi are examples of soft drinks.
Hope this helps!
Have a great day!
what is Social responsibilities in business
Answer:
Social responsibility in business, also known as corporate social responsibility (CSR), pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social, cultural, economic, and environmental issues.
Brad operates a hardware store. He maintains the books using the cash method. At the end of the year, his accountant computes his accrual basis income that is used on his tax return. For 2018, Brad had cash receipts of $2,200,000, which included $750,000 collected on accounts receivable from 2017 sales. At the end of 2018, he had $910,000 in accounts receivable from customers, all from 2018 sales. Brad paid cash for all of the purchases. The total amount he paid for merchandise in 2018 was $1,100,000. At the end of 2017, he had merchandise on hand with a cost of $165,000. At the end of 2018, the cost of merchandise on hand was $140,000.
a. Brad's accrual basis gross receipts for 2018 are: __________
b. The cost of goods sold for 2018 under the accrual method is: ____________
c. The gross profit from merchandise sales for 2018 under the accrual basis is:__________
Answer:
Brad Hardware Stores
a. Brad's accrual basis gross receipts for 2018 are: __________
= $1,450,000.
b. The cost of goods sold for 2018 under the accrual method is: ____________
= $1,125,000.
c. The gross profit from merchandise sales for 2018 under the accrual basis is:__________
= $1,235,000.
Explanation:
a) Data and Calculations:
Sales revenue for 2018:
Cash receipts = $2,200,000
Less 2017 accounts receivable $750,000
Add 2018 accounts receivable $910,000
Sales revenue for 2018 = $2,360,000
Gross receipts for 2018:
Cash receipts = $2,200,000
Less 2017 accounts receivable $750,000
Gross cash receipts = $1,450,000
Purchases for 2018 = $1,100,000
Beginning inventory = $165,000
Ending inventory = $140,000
Cost of goods sold = $1,125,000
Accrual Basis:
Sales revenue for 2018 = $2,360,000
Cost of goods sold = 1,125,000
Gross profit $1,235,000
The residual income valuation model is a rigorous and straightforward valuation approach, but the analyst should be aware of all of the following implementation issues that will hinder its ability to measure firm value correctly except: _________
a. common stock transactions
b. portions of net income attributable to equity claimants other than common shareholders
c. dirty surplus accounting items
d. positive book value of equity
Answer:
d. positive book value of equity
Explanation:
The residual income valuation model is the valuation approach that could have the issues when it is implemented that can create difficulties for measuring the firm value in an accurate way for transactions done for common stock, net income portion for equity other than common stock,, and dirty surplus for an accounting items but not for the positive equity book value as it does not create the difficulties
TCost-908 Car Mechanic Inc. uses a job-order costing system. The company applies all of its overhead costs to jobs using a predetermined overhead rate based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output 22,000 Fixed overhead cost $ 253,000 Variable overhead cost per direct labor-hour $ 1.00 During the year, a customer brought in her car for repairs. The following information was available with respect to the car's repairs: Direct materials $ 703 Direct labor cost $ 317 Direct labor-hours used 8 If TCost-908 sets its selling prices by adding a markup percentage of 40% of its total job cost, then how much would the company have charged this customer for her car's repairs?
Solution :
1. Predetermined overhead rate
Fixed [tex]\text{overhead cost}[/tex] (253,000 / 22,000) = $ 11.5
Variable [tex]\text{overhead cost}[/tex] per direct labor-hour = $ 1
Predetermined overhead rate = $12.5
2. Total job cost $
Direct materials 703
Direct labor cost 317
Applied overhead (8 hours x $12.5 per direct labor hour) = 100
Total job cost = $ 1120
3. Charges = $ 1120 x 140%
= $1568
Any point on the budget constraint Multiple Choice Gives the consumer the highest level of utility. Represent a combination of two goods that are affordable. Represents combinations of two goods that yield the same utility. Reflects the price of one good divided by the price of another good.
Answer: Represent a combination of two goods that are affordable
Explanation:
The budget constraint simply represents all the combinations of goods and services which a particular consumer can buy given the current prices of the goods within their given income.
The concepts of budget constraint is used in examining the parameters of the choices of the consumers. It should be noted that any point on the budget constraint simply represents a combination of two goods that are affordable.
Scanlon Corporation has estimated its activity for April as follows: Sales: $900,000 Gross profit (based on sales): 30% Increase in accounts receivable during month: 15,000 Increase in finished goods inventory during month: 25,000 Total selling and administrative costs: 80,000 Depreciation included in selling and administrative costs: 15,000 Scanlon has no raw material or work in process inventory at the beginning or end of April. On the basis of the above, what are estimated cash disbursements for April
On the basis of the above, Scanlon Corporation's estimated cash disbursements for April is: $695,000.
Data and Calculations:
Sales: $900,000
Gross profit (based on sales): 30% 270,000
Cost of goods sold = (Sales - Gross profit) $630,000
Increase in accounts receivable during month: 15,000
Increase in finished goods inventory during month: 25,000
Total selling and administrative costs: 80,000
Depreciation included in selling and administrative costs: 15,000
Cash spent on selling and administrative costs = $65,000 ($80,000 - $15,000)
Cash disbursements for April:
Cost of goods sold = $630,000
Selling and admin. (cash) = 65,000
Total cash disbursements = $695,000
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As a customer acquisition technique, events: a. Are considered mostly ineffective compared to mobile advertising or social media promotions b. Tend to be used independently of other acquisition techniques c. Can happen in an online environment d. Are primarily an offline channel
Answer: a. Are considered mostly ineffective compared to mobile advertising or social media promotions.
Explanation:
Customer acquisition techniques refers to the strategies that are helps in the identification of the potential leads which are then converted into active customers. Such techniques include personalized offer design, automated email marketing etc.
As a customer acquisition technique, events are considered mostly ineffective compared to mobile advertising or social media promotions.
Gross Domestic Product is a ________measurement of standard of living because ________.
a. imperfect; not all important determinants of standard of living are incorporated
b. imperfect; all important determinants of standard of living are incorporated
c. perfect; all important determinants of standard of living are incorporated
d. perfect; not all important determinants of standard of living are incorporate
Answer: A. imperfect; not all important determinants of standard of living are incorporated.
Explanation:
The gross domestic product refers to the monetary value of the goods and the services which are produced in a nation.
Gross Domestic Product is an imperfect measurement as it excludes non-market transactions such as the activities of mothers etc. Also, it doesn't account for income inequality in the society. Therefore, not all the important determinants of standard of living are incorporated.
Annual interest rate 4.00%
Loan Amount 4923275
Years 7
Grace Period 2 Years
Loan Period 5 Years
Total 7 Years
Project 1.5 years (development or initial investment period)
further 10 years of operation (life of the project)
Repayable in 5 equal installments.
I need figures for interest expense, interest paid, and principal repayment. Anyone can help me?
Answer:
formula is PRT÷10
Explanation:
so solve it
Plant assets sometimes are purchased as a group in a single transaction for a lump-sum price. This transaction is called a __________, or group, bulk, or basket purchase.
Answer:
Lump-Sum Purchase
Explanation:
Plant assets
This is simply known as well founded or important assets of an essential or useful life of more than one accounting period and are normally used in the operation of a business. One of the major characteristic of plant assets is that they are often used in operations.
They are known also as resources that has physical substance, used mainly in the operations of a business and it is not intended for sale to customers.
Plant assets are also called property, plant, equipment; plant and equipment; and fixed assets.
It is also discard (done away with) if it is not useful anymore to the company, and it has no market value.
Aber Inc. plans to develop a shopping center. In the first quarter, they spent the following amounts: Acquisition of land $15000 Surveys and legal fees 600 Land clearing 200 Fencing 1000 Install lighting and signage 860 What amount should be recorded as the cost of land in the books of the corporation
Answer: $15,800
Explanation:
When it comes to fixed assets like land, all costs that were necessary to acquire the land and to get it ready for use are capitalized - included in the cost of the fixed assets.
Cost of land = Acquisition cost + Surveys and legal fees + Land clearing to get it ready for use
= 15,000 + 600 + 200
= $15,800
Freddie's Food Service uses QuickBooks Desktop. They do not track or sell inventory. They have regular customers that they want to invoice automatically on a weekly basis. They would like to review a Sales by Customer by Month report regularly. The company currently pays their vendors in QuickBooks Desktop using the online bill pay service, QuickBooks Bill Pay. After converting to QuickBooks Online, which 3 setup and customization steps are appropriate for this client? Customize reports Turn off multicurrency Rebuild data Review recurring transactions Set up initial quantity on hand and cost for each product Set up and implement an online bill pay service
Answer:
Customize reports
Review recurring transactions
Set up and implement an online bill pay service
Explanation:
Considering the situation described above, after converting to QuickBooks Online, the 3 setup and customization steps that are appropriate for this client are the following:
1. Customize reports: this includes forms and reports and, if possible to memorize reports.
2. Review recurring transactions: this is to restore desktop QuickBooks memorized transactions.
3. Set up and implement an online bill pay service: this is done either through Intuit Online Payroll or QBOP.
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A: sự tồn tại của tổ chức
B: sự phát triển của tổ chức
C: kết quả hoạt động tổ chức
D: tất cả các ý
Answer:
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The discount rate is a. the rate at which the Fed lends to banks. b. the rate at which public banks lend to other public banks. c. the percentage difference between the face value of a Treasury bond and what the Fed pays for it. d. the percentage of deposits banks hold as excess reserves.
Answer:
a. the rate at which the Fed lends to banks
Explanation:
The discount rate is the interest rate that are applied for measuring the present value of future cash flows
It is the rate where the federal reserve would lends to the financial insituation or bank
So as per the given options, the option a is correct
And, the other options should be considerd as wrong or incorrect
Elbert uses FedEx in a scheme to defraud Global Sales Company by obtaining merchandise to which he is not entitled. Found guilty of mail fraud, Elbert can be punished by
Answer: None of the choices.
Explanation:
The options to the question are:
a. imprisonment for up to fifty years.
b. imprisonment for up to twenty years and/or fines.
c. fines up to $5 million.
d. none of the choices
Based on the questions asked, the options provided aren't correct. It should be noted that Elbert can be punished by imprisonment in this case for a period of your to about five years as well as a fine of up to $1000.
Seth's Tax Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances.
Prepare the adjusted trial balance for Seth's Tax Services as of December 31, 2018.
Cash $ ?
Land 26,000
Utilities Payable 150
Accounts Payable 3,700
Accumulated Depreciation—Equipment 1,800
Service Revenue 75,000
Supplies Expense 1,100
Dividends14,000
Equipment $11,000
Accounts Receivable 4,950
Office Supplies 700
Common Stock 22,600
Utilities Expense 1,650
Unearned Revenue 900
Depreciation Expense—Equipment 1,900
Salaries Expense 5,600
Answer and Explanation:
The preparation of the trial balance is presented below:
Particulars Debit Credit
Cash 37250
Accounts Receivable 4950
Office Supplies 700
Equipment 11000
Accumulated
Depreciation - Equipment 1800
Land 26000
Accounts Payable 3700
Utilities Payable 150
Unearned Revenue 900
Common Stock 22600
Dividends 14000
Service Revenue 75000
Salaries Expense 5600
Depreciation
Expense - Equipment 1900
Supplies Expense 1100
Utilities Expense 1650
Total 104150 104150
Supervisor: In general, half of all customers you speak to will ask about any upcoming pricing discounts or promotions. Of those who do ask, only 20% qualify for the discount. Employee: So that means if I speak to 300 customers, __________ will qualify for the discount.
Answer: 30 people
Explanation:
In general, only half of those spoken to will ask about upcoming discounts so out of 300, the number that will ask for discounts is:
= 300 / 2
= 150 people
Out of these 150 people who ask about upcoming discounts, only 20% will qualify. The number that will qualify is:
= 150 * 20%
= 30 people
Conflicts of interest a. have become less frequent today. b. always involve personal financial gain. c. are morally worrisome only when the employee acts to the detriment of the company. d. occur when employees have special or private interests that are substantial enough to interfere with their job duties.
Answer:
D
Explanation:
Conflicts of interest occur when employees have special or private interests that are substantial enough to interfere with their job duties
For example, imagine that there is an analyst who works in a firm. He comes across material non public information that the value of the shares of the company is about to plummet. This analyst has shares in the company.
A conflict of interest arises, he can either trade his shares and engage in insider trading or not trade his shares so as to protect the integrity of the capital market
the ethical step is not to trade
Which of the following are wholesale and which are retail?
(a ) large-scale deposites made by Firms at negotiated rates of in interest. ...........(retail to wholesales)
(b) Loans made by high Street banks at published rates of interest........ (retail (wholesales)
(c) Deposite in savings accounts high street banks .................(retail /wholesales)
(d) Deposite in savings accounts in building Societies ............. (retail/Wholesale)
(e) Large-scale loans to industry syndicated through several banks........... (retail/ Wholesale)
E=whole sale
B=retail
D=retail
A=whole sale
C=whole sale
A company issues bonds at par on April 1. These 9% bonds have a par value of $100,000 and pay interest annually. April 1,is four months after the most recent interest payment date. How much total cash interest is received on April 1 by the bond issuer
Answer: $3000
Explanation:
From the information given, we are told that a company issues bonds at par on April 1 and that these 9% bonds have a par value of $100,000 and pay interest annually. April 1,is four months after the most recent interest payment date.
The total cash interest that is received on April 1 by the bond issuer will be:
= $100000 × 9% × 4/12
= $100,000 x 0.09 x ⅓
= $3,000
1. ______ are costs that do not require a monetary payment
A) Accounting costs
B) Explicit costs
C) All opportunity costs
D) Implicit costs
2. Joe runs a restaurant. He pays his employees $200,000 per year. His ingredients cost him $50,000 per year. Prior to running his restaurant, Joe was a lawyer earning $150,000 per year. What would economists say is Joe’s cost of running the restaurant?
A) $150,000
B) $200,000
C) $250,000
D) $400,000
1. The cost that does not need a monetary payment is the implicit cost.
2. The cost of running the restaurant is $400,000.
1.
Implicit cost is normally:
The opportunity cost that occurred at the time when the company used the resources i.e. owned for the production without considering any payment regarding the resources.Here monetary payment should not be involved.Therefore rest of the given costs should involve monetary payments.
2. The cost of running the restaurant is as follows:
= Employee payment + ingredients cost + lawyer earnings
= $200,000 + $50,000 + $150,000
= $400,000
Therefore we can conclude that
1. The cost that does not need a monetary payment is the implicit cost.
2. The cost of running the restaurant is $400,000.
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Marketing strategy of strepsils company
Answer:
InstallCourses
SWOT ANALYSIS ›FMCG ›
Strepsils SWOT Analysis, Competitors, STP & USP
Published by MBA Skool Team, Last Updated: April 20, 2020
SWOT analysis of Strepsils analyses the brand by its strengths, weaknesses, opportunities & threats. In Strepsils SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Strepsils to benchmark its business & performance as compared to the competitors. Strepsils is one of the leading brands in the FMCG sector.
The table below lists the Strepsils SWOT (Strengths, Weaknesses, Opportunities, Threats), top Strepsils competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
price elasticity of demand
Answer:
Price elasticity of demand is a measure of the change in the quantity purchased of a product in relation to a change in its price.
Explanation:
Gillian reprimands an employee in front of his peers for speaking out of turn during a sales meeting. Which of the following types of reinforcement does this scenario demonstrate?
a. Extinction
b. Negative reinforcement
c. Positive reinforcement
d. Positive punishment
Answer:
The correct answer is the option B: Negative reinforcement.
Explanation:
To begin with, in the field of behavioral psychology and business management the concept known as "Reinforcement" refers to the action or process of changing or keeping someone's behavior by the action of having an specific reaction that will be negative or positive accepted by the individual whose behavior we are looking to change or maintain. Therefore that the reinforcement is followed by a particular stimulus that the individual normally has when making the action that we want to change or keep.
The negative reinforcement refers to the process of producing a consequence with the purpose of avoiding or trying to stop certain stimulus so that the individual will stop that behavior in order to avoid the consequence.
3. Prime Cuts was the brainchild of Cairn Terrier who guided all the marketing efforts of the product. She selected each element of the marketing mix such as the package, brand name, pricing, promotion, and placement decisions. Karen obviously serves in the job of:
Question Completion with Options:
A) marketing consultant.
B) brand manager.
C) operations analyst.
D) marketing intermediary
Answer:
Prime Cuts
Karen obviously serves in the job of:
A) marketing consultant.
Explanation:
Brand managers ensure that the image perceived by customers of Prime Cuts remains recognizable, up to date, and exciting. Brand managers promote and change the public perception of a brand's image. They ensure that the company's branding is consistent across advertising and other brand campaigns. A marketing consultant or manager ensures that prospective customers are reached with Prime Cuts in order to present them with the goods and to increase sales. She works to achieve effective marketing mix.
A list of financial statement items for Oriole Company includes the following: accounts receivable $17,500; prepaid insurance $3,250; cash $13,000; supplies $4,750; and debt investments (short-term) $10,250.
Required:
Prepare the current assets section of the balance sheet listing the items in the proper sequence.
Answer:
$48,750
Explanation:
Preparation of the current assets section of the balance sheet listing the items in the proper sequence
ORIOLE COMPANY Partial Balance Sheet Current assets
Cash $13,000
Debt investments $10,250
Accounts receivable $17,500
Supplies $4,750
Prepaid insurance $3,250
Total current assets $48,750
Therefore the current assets section of the balance sheet listing the items in the proper sequence is $48,750
