Harley-Davidson is a leading manufacturer of heavy-weight motorcycles. For each of the following recent transactions, indicate whether net cash inflows (outflows) from operating activities, investing activities, or financing activities are affected and whether the effect is an inflow or outflow, or use No effect if the transaction has no effect on cash. (Hint: Determine the journal entry recorded for the transaction. The transaction affects net cash flows if and only if the account Cash is affected.)
Answers
Answer:
Note See missing word as attached as picture below
1. Purchased raw materials inventory on account.
Indication: Cash flows from financing activities (No effect)
2. Prepaid rent for the following period.
Indication: Cash flows from operating activities (Outflow)
3. Purchased new equipment by signing a three-year note.
Indication: Cash flows from investing activities (No effect)
4. Recorded an adjusting entry for expiration of a prepaid expense.
Indication: Cash flows from operating activities (No effect)
5. Recorded and paid income taxes to the federal government.
Indication: Cash flows from operating activities (Outflow)
6. Purchased investment securities for cash.
Indication: Cash flows from investing activities (Outflow)
7. Issued common stock for cash.
Indication: Cash flows from financing activities (Inflow)
8. Collected payments on account from customers.
Indication: Cash flows from operating activities (Inflow)
9. Sold equipment for cash equal to its net book value.
Indication: Cash flows from investing activities (Inflow)
10. Issued long-term debt for cash.
Indication: Cash flows from financing activities (Inflow)
Related Questions
Murphy's, Inc., has 45,000 shares of stock outstanding with a par value of $1 per share. The market value is $10 per share. The balance sheet shows $70,500 in the capital in excess of par account, $45,000 in the common stock account, and $133,500 in the retained earnings account. The firm just announced a stock dividend of 12 percent. What will the balance in the capital in excess of par account be after the dividend?
Answers
Answer: $119100
Explanation:
The balance in the capital in excess of par account be after the dividend will be calculated thus:
Firstly, we'll calculate the change in capital in excess of par and this will be:
= Number of shares × dividend rate × (market value - par value)
= 45,000 × 12% × ($10 - $1)
= (45000 × 0.12) × $9
= 5400 × $9
= $48,600
Then, the balance in the capital in excess of par after the dividend will be:
= $70,500 + $48,600
= $119,100
$ 485,000 $ 432,000 $Enter a dollar amount Enter percentages rounded to 0 decimal places % Inventory $ 786,000 $ 617,000 $Enter a dollar amount Enter percentages rounded to 0 decimal places % Total assets $3,111,000 $2,707,000 $Enter a dollar amount Enter percentages rounded to 0 decimal places %
Answers
Answer:
Accounts receivable
Dec 31, 2017 = $485,000
Dec 31, 2016 = $432,000
Amount = $53,000
Percentage = $53,000/$432,000
Percentage = 0.1226852
Percentage = 12%
Inventory
Dec 31, 2017 = $786,000
Dec 31, 2016 = $617,000
Amount = $169,000
Percentage = $169,000 / $617,000
Percentage = 0.2739060
Percentage = 27%
Total assets
Dec 31, 2017 = $3,111,000
Dec 31, 2016 = $2,707,000
Amount = $404,000
Percentage = $404,000/$2,707,000
Percentage = 0.1492427
Percentage = 15%
Suppose a country has government expenditures of $3,500, taxes of $2,200, consumption of $9,000, exports of $2,500, imports of $2,700, transfer payments of $750, capital depreciation of $800 and investment of $3,000. GDP equals:_______.A. $24,450B. $11,550C. $15,300D. $20,700
Answers
Answer:
C. $15,300
Explanation:
Calculation to determine what GDP equals:
Using this formula
GDP = Consumption + Investment spending + Government Spending + Net Export
Where,
Net Export = Export - Import
Let plug in the formula
GDP=$9,000 + $3,000 + $3,500 + ($2500 - $2700)
GDP= $15,300
Therefore GDP equals:$15,300
Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2 reduction in the selling price. The company’s present selling price is $93 per unit, and variable expenses are $63 per unit. Fixed expenses are $830,700 per year. The present annual sales volume (at the $93 selling price) is 25,500 units.
Required:
1. What is the present yearly net operating income or loss?
2. What is the present break-even point in unit sales and in dollar sales?
3. Assuming that the marketing studies are correct, what is the maximum annual profit that the company can earn? At how many units and at what selling price per unit would the company generate this profit?
Answers
Answer:
1. The present yearly net operating loss is $65,700
2. Break even point in unit sales is 27,690 units, in dollars sales $2,575,170.00
3. The maximum annual profit that the company can earn is $23,300, at 30,500 units with a selling price per unit of $91
Explanation:
At breakeven point, the cost and revenue of the company are same such that the company neither a profit nor a loss. Operating profit or loss is the difference between the revenue and the cost of the company.
The cost of the company usually consist of the fixed and variable elements.
Given that the company’s present selling price is $93 per unit, and variable expenses are $63 per unit. Fixed expenses are $830,700 per year with present annual sales volume (at the $93 selling price) is 25,500 units
Hence the operating profit or (loss)
= $93 * 25,500 - ($63 * 25,500 + $830,700)
= $765,000 - $830,700
= ($65,700)
A loss of $65,700
Break even point in unit sales = Fixed costs / (Selling price per unit – Variable cost per unit)
= $830,700 / ($93 - $63)
= $830,700 / $30
= 27,690 units
In dollar sales
= $93 * 27,690
= $2,575,170.00
if the marketing studies are correct then the new selling price per unit will be
= $93 - $2
= $91
The units sold will be
= 5000 + 25,500
= 30,500 units
The maximum profit to be made
= $91 * 30,500 - ($63 * 30,500 + $830,700)
= $854,000 - $830,700
= $23,300
MacKenzie Company sold $400 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 2.0% service charge for sales on its credit cards and credits MacKenzie's account immediately when sales are made. The journal entry to record this sale transaction would be:
Answers
Answer:
Date Account Title Debit Credit
XX-XX-XXXX Cash $392
Credit card service charge $ 8
Sales $400
Working
Cash :
= 400 * (1 - 2% service charge)
= $392
Credit card service charge:
= 400 * 2%
= $8
For each of the following transactions that occur in their lives, identify whether it is included in the calculation of U.S. GDP as part of consumption (C), investment (1), government purchases (G), exports (X), or imports (M). Transaction
i. Andrew's employer upgrades all of its computer systems using U.S.-made parts.
ii. Beth gets a new refrigerator made in the United States Andrewbuys a bottle of Italian wine.
iii. The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore.
iv. Beth's father in Sweden orders a bottle of Vermont maple syrup from the producer's website,
Answers
Answer and Explanation:
The classification is as follows:
i. It is an investment as the employer of andrew spent money for upgrading the system so that the productivity could be increased due to this it will give benefits till the long term
ii. It is a consumption as the product is made in US and the same should be consumed in US only
It is a consumption and imports as the andrews purchased the bottle
iii. It is a government spending as the government used the money for creating the infrastructure that should beneficial for the general public
iv. It is an export as father lived in sweden and the maple syrup should be delivered to the foreign party
Decrease in money demand shifts the (IS/LM ) curve to the _____________ and leads to a ________________ in Y and ______________ in r.
Answers
Answer:
LM curve will shift left and lead to decrease in Y and increase in r.
Explanation:
When money demand decreases, it will cause LM curve to shift up to the left. There will be decrease in Fed which causes decrease in money supply. The upward shift of LM curve will lower the income and raise interest rates.
Stock Valuation Suppose you know that a company's stock currently sells for $64 per share and the required return on the stock is 13 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. If it's the company's policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?
Answers
Answer:
$3.85
Explanation:
Calculation to determine the current dividend per share
First step is to calculate the Dividend yield using this formula
Dividend yield=Dividend for next period/Current price
Let plug in the formula
Dividend yield=(13%/2)
Dividend yield=6.5%
Second step is to calculate the Dividend for next period
Dividend for next period=($63*6.5%)
Dividend for next period=$4.095
Now let determine the Current dividend using this formula
Current dividend=Dividend for next period*Present value of discounting factor(rate%,time period)
Let plug in the formula
Current dividend=$4.095/1+.065
Current dividend=$4.095/1.065
Current dividend=$3.85(Approx).
Therefore the current dividend per share is $3.85
Navajo Corporation traded a used truck (cost $20,000, accumulated depreciation $18,000) for a small computer with a fair value of $3,300. Navajo also paid $500 in the transaction. Prepare the journal entry to record the exchange. (The exchange has commercial substance.)
Answers
Answer and Explanation:
The journal entry is given below:
Equipment/Computer $3,300
Accumulated depreciation-Truck $18,000
To Truck $20,000
To Gain on disposal of truck $800
To Cash $500
(Being the exchange is recorded)
Here the equipment and accumulated depreciation is debited as it increased the asset and credited the truck, cash and gain as it decreased the assets and increased the revenue
Amazon Corporation has preferred stock outstanding that pays a $11.45 annual dividend. It price is $147. What is the required rate of return (yield) on the preferred stock?
Answers
Answer:
7.79%
Explanation:
Calculation to determine the required rate of return (yield) on the preferred stock
Using this formula
Cost of preferred stock=Annual Dividend per share/Current price of preferred stock
Let plug in the formula
Cost of preferred stock=$11.45/$147
Cost of preferred stock=0.0779*100
Cost of preferred stock=7.79%
Therefore the required rate of return (yield) on the preferred stock is 7.79%
Given the following information, determine the activity rate for setups.
Activity Pool Activity Base Budgeted Amount
Setups 10,000 $180,000
Inspections 24,000 $120,000
Assembly (DLH) 80,000 $400,000
a. $58.00
b. $0.75
c. $5.09
d. $18
Answers
Answer:
Set up= $18 per set up
Explanation:
Giving the following information:
Activity Pool Activity Base Budgeted Amount
Setups 10,000 $180,000
To calculate the activity rate, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Set up= 180,000 / 10,000
Set up= $18 per set up
Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions.a. Owner invested $60,000 cash in the company along with equipment that had a $15,000 market value.b. The company paid $1,500 cash for rent of office space for the month.c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days).d. The company completed work for a client and immediately collected the $2,500 cash earned.e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days.f. The company purchased additional equipment for $6,000 cash.g. The company paid an assistant $3,000 cash as wages for the month.h. The company collected $5,000 cash as a partial payment for the amount owed by the client in transaction e.i. The company paid $10,000 cash to settle the liability created in transaction c.j. Owner withdrew $1,000 cash from the company for personal use.RequiredCreate the following table similar to the one in Exhibit 1.9.Equity Assets Liabilities + Expenses Cash + Receivable + Equipment = Payable + M. Chen, Capital M. Chen, + Revenues AccoThen use additions and subtractions to show the dollar effects of the transactions on individual items of the accounting equation. Show new balances after each transaction.
Answers
Answer:
The accounting equation holds as follows:
Asset = Liabilities + Equity = $80,000
Explanation:
Note: See the attached excel file for the analysis of the Effect of June Transactions on the Accounting Equation
From the last balances in the attached excel file, we have:
Assets = Cash + Receivable + Equipment = $41,000 + $8,000 + $31,000 = $80,000
Liabilities = Payable = $0
Equity = M. Chen, Capital - M. Chen, Withdrawals + Revenue - Expenses = $75,000 - $1,000 + $10,500 - $4,500 = $80,000
Liabilities + Equity = $0 + $80,000 = $80,000
Therefore, the accounting equation holds as follows:
Asset = Liabilities + Equity = $80,000
A long-term investment classified as equity securities with controlling influence implies that the investor can exert a controlling influence over the investee. An investor who owns more than ____% of a company's voting stock has control over the investee.
Answers
Answer: 50%
Explanation:
The Equity Securities with controlling influence refers to the long-term investment whereby the investor exert controlling influence over the investee. In such case, the investors own 50% or more of the voting stock.
On the other hand, the Equity securities with significant influence refers to the long-term investment whereby the investor exerts significant influence over the investee. In such case, the investors own 20% or more of the voting stocks but should be less than 50%.
At the beginning of May, Golden Gopher Company reports a balance in Supplies of $390. On May 15, Golden Gopher purchases an additional $2,200 of supplies for cash. By the end of May, only $190 of supplies remains. Required: 1.
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Answer:
Missing word "rief Exercise 3-6 Parts 1 and 2 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No journal entry required n the first account field.) view transaction list view general journal Journal Entry Worksheet Record the purchase of supplies. General Journal Debit Credit Date 2,600 May 15 Supplies expense Enter debits before credits clear entry record entry 7. 062 points Brief Exercise 3-6 Part 3 3. Calculate the balances after adjustment on May 31 of Supplies and Supplies Expense. Ending Balance Supplies Supplies expense"
1&2 Date General Journal Debit Credit
May 15 Supplies $2,200
Cash $2,200
May 31 Supplies expense $2,400
($390 + $2,200 - $190)
Supplies $2,400
3). Particulars Ending Balance
Supplies $190
Supplies expense $2,400
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $420,000 and total machine hours at 60,000. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 TotalDirect materials used 19,200 14,400 9,600 43,200 Direct labor 28,800 11,200 9,600 49,600 Machine hours 1,000 hours 4,000 hours 2,000 hours 7,000 hoursJob 101 was completed and sold for $60,000.Job 102 was completed but not sold.Job 103 is still in process.Actual overhead costs recorded during the first month of operations totaled $45,000.Required: 1. Calculate the predetermined overhead rate. (Round your answer to 2 decimal places.)2. Compute the total manufacturing overhead applied to the Work in Process Inventory account during the first month of operations. (Round your intermediate calculations to 2 decimal places.)3. Compute the balance in the Work in Process Inventory account at the end of the first month. (Round your intermediate calculations to 2 decimal places.)4. How much gross profit would the company report during the first month of operations before making an adjustment for over- or underapplied manufacturing overhead? (Round your intermediate calculations to 2 decimal places.)5-a. Determine the balance in the Manufacturing Overhead account at the end of the first month. (Round your intermediate calculations to 2 decimal places.)
Answers
Answer:
Tyler Tooling Company
1. The predetermined overhead rate is:
= $7
2. The total manufacturing overhead applied to the Work in Process Inventory account during the first month of operations is:
= $49,000
3. The balance in the Work in Process Inventory account at the end of the first month is:
= $86,800
4. The gross profit that the company would report during the first month of operations before making an adjustment for over- or underapplied manufacturing overhead is:
= $5,000
5a. The balance in the Manufacturing Overhead account at the end of the first month is:
= $4,000 overapplied
Explanation:
a) Data and Calculations:
Estimated total manufacturing overhead for the coming year = $420,000
Estimated total machine hours for the coming year = 60,000 mh
Actual jobs data: Job 101 Job 102 Job 103 Total
Direct materials cost $19,200 $14,400 $9,600 $43,200
Direct labor cost 28,800 11,200 9,600 49,600
Machine hours cost 1,000 4,000 2,000 7,000
Sale of Job 101 = $60,000
Actual overhead for the first month = $45,000
1. Predetermined overhead rate = Estimated overhead/estimated machine hours
= $420,000/60,000
= $7
2. The total manufacturing overhead applied to the Work in Process Inventory account during the first month of operations is:
= total machine hours used * $7
= $49,000 (7,000 * $7)
3. The balance in the Work in Process Inventory account at the end of the first month is:
Work in Process
Account Titles Debit Credit
Direct materials $43,200
Direct labor 49,600
Overhead applied 49,000
Cost of Job 1 sold $55,000 ($19,200+$28,800+$7,000)
Ending balance $86,800 (= costs of Job 102 and 103)
4. The gross profit that the company would report during the first month of operations before making an adjustment for over- or underapplied manufacturing overhead is:
= Gross profit for Job 101 = $5,000 ($60,000 - $55,000)
5a. The balance in the Manufacturing Overhead account at the end of the first month is:
= Actual overhead incurred - overhead applied
= $45,000 - $49,000
= $4,000 overapplied
Based on an examination of the risk and return data for a variety of alternative investments during the period of 1926-2011, which of the following statements is correct? Over the period of 1926-2011, the general trend of increasing riskiness among the following five assets is: U.S. Treasury bills, U.S. government long-term government bonds, long-term corporate bonds, large-company stocks, and small-company stocks. Over the period of 1926-2011, the general trend of increasing return among the following five assets is: U.S. Treasury bills, long-term corporate bonds, U.S. government long-term bonds, large-company stocks, and small-company stocks. Large-company stocks, rather than small-company stocks, exhibit the greater risk and the greater return. Small-company stocks, rather than long-term corporate bonds, exhibit both the greater return and the greater standard deviation.
Answers
Answer:
Based on an examination of the risk and return data for a variety of alternative investments during the period of 1926-2011, the correct statement is:
Small-company stocks, rather than long-term corporate bonds, exhibit both the greater return and the greater standard deviation.
Explanation:
Small-company stocks are known to show the highest volatility of returns among these five assets. The reason is that investors in small company stocks always expect higher returns to pay for the higher risks involved in such unproven investments, unlike investing in other assets. In addition, small-company stocks are known to pose higher risks given their known failure to deliver on their promised performance and returns.
Here are data on two companies. The T-bill rate is 4.8% and the market risk premium is 5.9%. Company $1 Discount Store Everything $5 Forecast return 12 % 11 % Standard deviation of returns 12 % 14 % Beta 1.6 1.0 What would be the fair return for each company, according to the capital asset pricing model (CAPM)? (Round your answers to 2 decimal place
Answers
Answer and Explanation:
The computation of the fair return for each company is shown below:
Fair Return = Risk free rate of return + Beta × market risk premium
= 4.8 + 1.6 × 5.9
= 14.24%
Now
Everything $5 is
= 4.8 + 1 × 5.9
= 10.7%
Hence, the same should be considered
Introduction to Business class is to observe the use of groups in a large manufacturing business. The students notice that most groups are arranged by reporting relationships. Bill discovers a group of managers who have been placed together to study and recommend a course of action on a flextime schedule for employees. Jane finds that the executives of the company have formed a team consisting of themselves, some middle managers, and a few hourly employees to work on improving work processes and efficiency within the company. This group has been in existence for 5 years and is going strong. The group of managers that Bill discovers is an example of:
A) an informal interest group
B) a formal group
C) A fun group
D) a quality group.
Answers
The correct answer is B) a formal group.
The group of managers that Bill discovers is an example of a formal group.
During their visit to a large manufacturing business, Bill discovers a formal group. It is a group of managers who have been placed together to study and recommend a course of action on a flextime schedule for employees.
When we are referring to an organization, a formal group can be understood as a workgroup that is formed by design, depending on a hierarchical composition. The members of this group have specific tasks according to the work they perform in the company.
Usually, these groups are formed based on the experience of their members because they want to accomplish goals in a more effective way and to improve the decision-making process of difficult issues.
which of the following is false? when a cboe call option on ibm is exercised, ibm issues more stock. an american option can be exercised at any time during its life. a put option will always be exercised at maturity if the strike price is greater than the underlying asset price
Answers
Answer:
The false statement is:
when a CBOE call option on IBM is exercised, IBM issues more stock.
Explanation:
CBOE = Chicago Board Options Exchange. CBOE pioneered the options trading in 1973. It has remained the largest U.S. options market operator. It supports options trading on thousands of publicly listed stocks and exchange-traded products. Exercising a call option on the exchange platform does not affect the outstanding IBM stock and will never force IBM Corporation to issue more stock.
If a company or organization encourages employees but not the executives to participate in its social responsibility objectives and strategies, what is the probable effect
Answers
Answer:
Failure to meet CSR goals
Explanation:
In simple words, if any organisation wants to achieve their corporate social responsibility goals then it has to ensure that employees working in every unit and post must be included in the process. If the executive level will not indulge in such activities then there of high chance that the process will not go beyond a certain extent due to lack of motivation and authority regulation.
Which of the following methods of accounting for investments is appropriate when the investor has significant influence over the investee?
a. cost method.
b. mark to market method.
c. equity method.
d. lower of cost or market method.
Answers
Answer:
The answer is "Option c".
Explanation:
The equity method is indeed the conventional technique used whenever an investor, a firm, has a massive effect on some other asset manager.
It is the method used by a company to document its money generated through investment in another company.
The investor should record its profits or losses following its ownership percentage. It regularly changes the value of the property to a balance sheet of even an investor.
Your company expects to receive CAD 1,200,000 in 90 days. The 90 day forward rate for CAD is $0.80 and the current spot rate is $0.75. If you use a forward hedge, estimate the cost of hedging the receivable if, 90 days later, the spot rate for CAD 90 days later turns out to be $0.82.
a. $50,000
b. $50,000
c. $75,000
d. $75,000
Answers
Answer:
Cost of hedging = $24,000
Explanation:
cost of hedging = 1,200,000 * ($0.80 - $0.82) = 1,200,000 * $0.02 = -$24,000
Since the actual forward rate was higher than th eexpected forward rte, the coampny lost money by hedging the operation. The cost of hedging the operation was $24,000.
Cross-training occurs: Group of answer choices when employers need to enhance the effectiveness of training by reducing employees' job duties. when e-learning is used as the primary mode for delivering the content of a training program. when the training takes place outside the employing organization. when people are trained to do more than one job.
Answers
Answer:
When people are trained to do more than one job
Explanation:
Cross-training
This is simply defined as a type of training usually in diverse areas so as to improve the overall performance
It uses the good qualities or effectiveness of each training method and combining them to remove the limitations of each method.The origin of cross-training is the said to be triathlon which came about in the 1970s.
Its aims specifically is to combine exercise in which five components of fitness cardiorespiratory endurance, muscular strength, muscular endurance, flexibility, body composition.
Cross training uses more than one type of training such as
•Fartlek training on Tuesdays
• Circuit training on Thursdays
• Weight training on Saturdays
Advantages of Cross training
1. It is very good if an individual is involved.
2. It has more than one activity
3. It is an activity that is made up of different types of events etc.
or each of the following situations, indicate the liability amount, if any, that is reported on the balance sheet of Bloomington Inc. at December 31, 2019. Next to each situation, enter the liability amount reported on Bloomington's balance sheet. If the amount is not reported as a liability, enter zero as your answer. a. Bloomington owes $220,000 at year-end 2019 for inventory purchase. Answer b. Bloomington agreed to purchase a $28,000 drill press in January 2020. Answer c. During November and December of 2019, Bloomington sold products to a customer and warranted them against product failure for 90 days. Estimated costs of honoring this 90-day warranty during 2020 are $3,100. Answer d. Bloomington provides a profit-sharing bonus for its executives equal to 5%
Answers
Answer:
Bloomington Inc.
Indication of Liability Amount on the Balance Sheet at December 31, 2019:
Situation Liability Amount
a. $220,000
b. $0
c. $3,100
d. $0
Explanation:
For Bloomington to recognize a liability or record it in its financial statements, the probability that an outflow of economic resources will occur in the future must be established. Bloomington must also be able to reliably measure the amount of the liability. These two conditions are satisfied in situations A and C. For situation B, the contract is not in force as at December 31, 2019, since the drill press will be purchased in January, 2020. Lastly, for situation D, the amount of the profit-sharing bonus cannot be reasonably and reliably ascertained because the amount to apply the 5% is not clear or known.
2. In what ways does the division between value creation and value delivery help clarify the process of refining the business model
Answers
Answer:
Value creation refers to the process of creating a company value based on the demands of the consumer and their willingness to use the value. The action of drifting wealth in a value networks is essential to the idea of shared value.
In other words, The way you create your goods such that they provide the most value to the customers who use them is called value delivery. Customers can receive worth in the shape of goods, perks, and characteristics, among other things. Anything that adds worth to the consumer 's experience should be included in the value ordering process.
On May 31, the Cash account of Teasel had a normal balance of $5,400. During May, the account was debited for a total of $12,600 and credited for a total of $11,900. What was the balance in the Cash account at the beginning of May?
a. A $0 balance.
b. A $6,100 debit balance.
c. A $6,100 credit balance.
d. A $4,700 debit balance.
e. A $4,700 credit balance.
Answers
Answer:
d. A $4,700 debit balance.
Explanation:
Note that the cash account is an asset account that a debit increases and a credit reduce it, hence, the balance at the beginning of May would be increased by debit entry and decreased as a result of the credit entry as shown thus:
closing balance=beginning balance+debit-credit
closing balance=$5,400
beginning balance=unknown
debit=$12,600
credit=$11,900
$5400=X+$12,600-$11,900
X=$5,400-$12,600+$11,900
X=$4,700(debit)
A company uses the periodic inventory method and the beginning inventory is overstated by $9,000 because the ending inventory in the previous period was overstated by $9,000. The amounts reflected in the current end of the period balance sheet are
Answers
Answer:
"Correct Correct" is the right answer.
Explanation:
Overall inventory will be calculated by means including its physical computing mechanism at either the conclusion of each accountability conscious cognitive mostly on periodical inventory or purchasing department.Excessive conclusion or termination creates excessive starting inventory thresholds or their levels.one markeitng action that can be taken to sell a single product or service to muylpele market segments is to
Answers
Answer: C. develop separate promotional campaigns.
Explanation:
Different market segments will have different norms and values that companies will have to take advantage of in order to sell their goods or services.
They will therefore need to develop separate promotional campaigns that are aimed at taking advantage of these norms and values in order to appeal to the people in the different segments.
A bailment is different from a gift because:___.
a. a gift requires consideration, but a bailment does not.
b. a gift is always a contract, but a bailment is generally not a contract.
c. a gift requires delivery, but a bailment does not.
d. in a bailment, only possession of the property is transferred to the bailee, whereas with a gift, both possession and ownership must pass to the donee.
Answers
Answer: d. in a bailment, only possession of the property is transferred to the bailee, whereas with a gift, both possession and ownership must pass to the donee.
Explanation:
When you give a person a gift, you are giving the person both ownership of that gift and the possession as well. For instance, if you give a person a car as a gift, that person now owns the car and will use it as they please.
With a bailment, there is no transfer of ownership. The bailor is simply giving the bailee possession of the property in question which means that after the bailee is done with the property, they have to return it back to the bailor.
Suppose most people regard emeralds, rubies, and sapphires as close substitutes for diamonds. Then DeBeers, a large diamond company, has a. less incentive to advertise than it would otherwise have. b. more control over the price of diamonds than it would otherwise have. c. less market power than it would otherwise have. d. higher profits than it would otherwise have.
Answers
Answer: less market power than it would otherwise have.
Explanation:
Following the information given that most people regard emeralds, rubies, and sapphires as close substitutes for diamonds, then it can be infered that DeBeers, a large diamond company, will have less market power than it would otherwise have.
Since the company has less market power due to other substitutes in the market, there'll be less ability for the company to fix price since customers can easily move to other products and purchase them.
