Jamarcus was his collegiate chapter's delegate at a national conference of a professional business fraternity, Phi Chi Theta, in which he is a member. When the business meeting was conducted, parliamentary procedure was used, and Jamarcus was not familiar with this. Thus, he looked to the others to learn how he should behave in this situation. What type of influence does this reference group exhibit? procedural transient substantive informational legal

Answers

Answer 1

Answer:

informational

Explanation:

Informational influence is defined as a new concept or information that occurs within a group and leads to change in group member attitudes, behaviour, and belief.

In the given scenario parliamentary procedure was used in a business meeting and Jamarcus was not familiar with this.

He looked to other group members to learn how he should behave in this situation.

In this case the group is providing information of proper way of behaving during the meeting.


Related Questions

Some hoodlums who have been earning money by stealing copper pipes and cable and selling them to recyclers are driving around one evening when they spot an unattended strange-looking building sitting out in the middle of a field, break in, and steal all of the copper wire they can haul in their truck, disabling the VOR air navigation facility.

Required:
In addition to trespassing, breaking and entering, and burglary, have they committed any aviation-specific federal crimes? If so, identify each such crime(s) and describe the penalties.

Answers

Answer:

Yes they have 18 U.S. Code § 32 (a) Clause 3

Explanation:

With aviation being such a sensitive field that requires a lot of oversight, Congress enacted rules to punish aviation crimes which means that such crimes fall under Federal jurisdiction and as this crime is a crime against an aviation facility, it is a Federal crime.

The crime in question here falls under US. Code 32 - Destruction of aircraft or aircraft facilities under subsection (a)3 which talks about damaging an air navigation facility and how this can endanger the safety of flights en route.

Their punishment would be either a fine, imprisonment of not more than five years or both.

The decisions of a mediator are?

Answers

Not mutually binding

which plan offers a tax-free education?

a ______ Plan is a plan that offers a tax-free education, even upon withdrawal. however, the use of money is limited and can only be used for education expenses

Answers

Answer: 529 plan is an investment account that offers tax-free earnings growth and tax-free withdrawals when the funds are used to pay for qualified education expenses.

Lionel is an unmarried law student at State University Law School, a qualified educational institution. This year Lionel borrowed $30,000 from County Bank and paid interest of $1,800. Lionel used the loan proceeds to pay his law school tuition. Calculate the amounts Lionel can deduct for higher education expenses and interest on higher-education loans under the following circumstances:

Answers

Answer:

Deductible interest expense of $1440 and deductible education expense of $4000.

Explanation:

There are certain tax laws which allows a tax payer to deduct his expenses from the taxable amount. The tax payer can deduct interest expense from the taxable amount since it is a tax shield. Lionel can deduct an interest expense of $1440 from the taxable amount and he can deduct $4000 for his education from the taxable amount.  

Calgary Manufacturing company makes chairs and desks. The following costs were incurred in making its products during its first year of operation. Chairs Desks Total Direct Materials $ 8,500 $ 10,500 $ 19,000 Direct Labor 16,500 12,500 29,000 Also the company incurred $22,910 of employee benefits cost. Since these overhead costs are driven by the use of labor they are allocated to the products based on the direct labor dollars. Based on this information alone the total cost of making chairs is. (Do not round intermediate calculations.)

Answers

Answer: $38035

Explanation:

Firstly, the allocation rate per labor will be: = Allocated cost / Allocation base

= $22910 / $29000

= $0.79 per labor

Overhead cost allocated to chairs will be:

= $16500 x 0.79 = $13035

Overhead cost allocated to Desks will be:

= $12500 × 0.79 = $9875

The total cost of making chairs will then be:

= Material cost + Labor cost + Overhead cost

= $8500 + $16500 + $13035

= $38035

Cheong Automobile Company fabricates automobiles. Each vehicle includes one water pump, which is currently made in-house. Details of the water pump assembly are as follows: Volume 1200 units per month Variable cost per unit $11.50 per unit Fixed costs $10,000 per month An Indonesian factory has offered to supply Cheong Automobile Company with ready-made units for a cost of $16 for each water pump. Assume that Cheong's fixed costs are unavoidable and that Cheong will not be able to use the excess capacity in any profitable manner. If Cheong decides to outsource, monthly operating income will ___

Answers

Answer: Monthly operating income will decrease by $5400.

Explanation:

Volume = 1200 units per month

Variable cost per unit = $11.50 per unit

Fixed costs = $10,000 per month

Since Cheong decides to outsource, the monthly operating income will be calculated thus:

= Volume × (Cost of ready made units - Variable cost per unit)

= 1200 × (16 - 11.50)

= 1200 × 4.50

= $5400

Therefore, the monthly operating income will decrease by $5400.

Revi Corp. provides the following information for the upcoming year: It expects to sell 29,000 pool cues for $13 each. Direct materials costs are $3, direct manufacturing labor is $5, and manufacturing overhead is $0.83 per pool cue. The following inventory levels apply to the upcoming year: Beginning inventory Ending inventory Direct materials 24,000 units 24,000 units Work-in-process inventory 0 units 0 units Finished goods inventory 1,200 units 2,800 units What are the budgeted costs for direct materials, direct manufacturing labor, and manufacturing overhead, respectively

Answers

Answer: See explanation

Explanation:

First, we need to calculate the production budget and this will be:

Sales = $29000

Add: Closing inventory of finished goods = $2800

Less: Opening inventory of finished goods = $1200

Production budget = $30600

Direct material purchased:

Production = 30600

Add: Closing inventory of direct material = 24000

Less: Opening inventory of direct material = 24000

Direct material purchased = 36000

a. Budgeted costs for direct materials

= Direct material purchased × price per unit

= 30600 × $3

= $91800

b. Direct manufacturing labor

= Production unit × Cost per unit

= 30600 × $5

= $153000

c. Manufacturing overhead

= Production units × Cost per unit

= 30600 × $0.83

= $25398

Your friend currently works as an accountant at a public accounting firm in the small town of LaFontaine, Indiana. He is offered a job in Washington, D.C. for $60,000. Your friend calls you and tells you that he is excited about the new job offer, which gives him a raise from his current salary of $50,000. Based on your knowledge of economics, you think that:______

a. Your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.
b. Your friend has every reason to be excited because he will be getting paid.
c. Your friend has reason to be excited because in a bigger city he will häve more.
d. Your friend has no reason to be excited because higher pay implies more job 120% of what he used to be paid. things to do and his higher salary will allow him to spend on those activities.

Answers

Answer:

Correct option is (a)

Explanation:

Real income is the income after adjusting for inflation. Inflation is rise in general price of commodities. Here, friend was living in a small town. Cost of living as well as inflation is lower as compared to big city like Washington DC. Even though he is given a raise of $10,000 that is an increase in nominal income, his real income after adjusting inflation and cost of living would not rise by $10,000.

So, friend should not get excited to be moving to the city with higher pay as it will not make much of difference.

Which of the following refers to duties imposed by a government on imported goods?
A subsidies
B rounds
C tariffs
D quotas

Answers

The best answer to go with is b

Scenario: You are in the market for a new car. You do not have a trade-in, but you have saved $3,000 toward a down payment. You currently earn $3,750.00 gross monthly income, of which 28% is withheld for various deductions. You have heard of the 20% rule of thumb, but want to limit your payments to no more than 18% of your net monthly income because of other debt commitments. You currently have a credit score of 685. You expect to drive the car an average 15,000 miles per year.
You're considering purchasing a used-rather than new car. This strategy offers several advantages. Which of the following is not an advantage of purchasing a used car?
A. The reduced down payment required for the purchase
B. A lack of knowledge and confidence in the mechanical condition of the car
C. The price of the automobile
D. Avoidance of the vehicle's significant decrease in value due to depreciation

Answers

Answer:

B. A lack of knowledge and confidence in the mechanical condition of the car.

Explanation:

One need to be expert in analyzing a car condition in order to buy a used car. The used car is mechanically weak and the buyer should have good knowledge for the mechanical condition of the car. This is a disadvantage if a person has lack of knowledge in car mechanic when in a situation to buy a  used car.

Example suppose in a country there were 1,00,000,000 total populations ,8,000,000 people were unemployed and 72,000,000 were held jobs . calculate,I.The national employment rate? II.National unemployment rate ?​

Answers

Explanation:

National employment rate=72%

72,000,000/1,00,000,000

National unemployment rate=0.08% =8%

8,000,000/1,00,000,000

As per the given data-

The national employment rate is 72%

The National unemployment rate will be 8%

What is unemployment?

Situation of unemployment refers to the situation when there is a lack of job opportunities and more qualified individuals or candidates seeking job opportunities with their willingness.

The national employment rate helps individuals to know the ratio of employment in the country whereas the national unemployment rate helps to determine the rate of unemployed in the country.

Calculation-

I. The national employment rate

= (employed people / total populations)*100

= (72000,000/ 1,00,000,000)*100

= 72%

II.  National unemployment rate

= (unemployed persons/number of persons in the labor force)*100

=(8,000,000 / 1,00,000,000)*100

=8%

Therefore, the rate of employment is 72% whereas the unemployment rate is 8%.

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.

What is an easement? What is it called when an easement is obtained against the consent of the landowner? What type of easement can be created by two adjacent landowners where one of them is “landlocked” by the other landowner?

Answers

Answer:

1. An easement is the right given to a person by law to utilize a particular part of another person's land.

2. When an easement is obtained against the consent of the landowner it is known as Prescriptive easement.

3. An easement that is created by two adjacent landowners where one is landlocked by the other landowner is called Easement appurtenant.

Explanation:

An easement is the lawful right of a person to use another person's property. Ingress, egress, and drainage are common reasons why an easement might be needed. When a piece of land does not have access to a roadway, then an easement might be required.

Prescriptive easement occurs when a land has been used by another person who is not the legal owner for up to twenty years without the consent/knowledge of the original owner of the land.

Easement appurtenant occurs for example when a person cannot access his own land with passing through another person's land. An easement by necessity can be created in such situations to solve the problem.

The transactions listed below are typical of those involving Amalgamated Textiles and American Fashions. Amalgamated is a wholesale merchandiser and American Fashions is a retail merchandiser. Assume all sales of merchandise from Amalgamated to American Fashions are made with terms n/60, and the two companies use perpetual inventory systems. Assume the following transactions between the two companies occurred in the order listed during the year ended December 31.
a. Amalgamated sold merchandise to American Fashions at a selling price of $270,000. The merchandise had cost Amalgamated $191,000.
b. Two days later, American Fashions returned goods that had been sold to the company at a price of $27,500 and complained to Amalgamated that some of the remaining merchandise differed from what American Fashions had ordered. Amalgamated agreed to give an allowance of $9,000 to American Fashions. The goods returned by American Fashions had cost Amalgamated $19,270
c. Just three days later, American Fashions paid Amalgamated, which settled all amounts owed
Required:
For each of the events (a) through (c), indicate the amount and direction of the effect on Amalgamated Textiles in terms of the following items. (Enter any decreases to account balances with a minus sign.) Prepare the journal entries that Amalgamated Textiles would record. TIP: When using a perpetual inventory system, the seller always makes two journal entries when goods are sold. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Answers

Answer:

Amalgamated Textiles

1. Effects on Items:

a. Assets + (Accounts receivable) $270,000

   Retained earnings + (Sales revenue) $270,000

   Retained earnings - (Cost of goods sold) $191,000

   Assets - (Inventory) $191,000

b. Retained earnings - (Sales returns and allowances) $36,500

   Assets - (Accounts receivable) $36,500

   Assets + (Inventory) $19,270

  Retained earnings + (Cost of goods sold) $19,270

c. Assets + (Cash) $233,500

   Assets - (Accounts receivable) $233,500

2. Journal Entries:

a. Debit Accounts receivable $270,000

Credit Sales revenue $270,000

To record the sale of goods on account.

Debit Cost of goods sold $191,000

Credit Inventory $191,000

To record the cost of goods sold.

b. Debit Sales returns and allowances $36,500

Credit Accounts receivable $36,500

To record the return of goods and allowances given.

Debit Inventory $19,270

Credit Cost of goods sold $19,270

To record the return of goods to inventory.

c. Debit Cash $233,500

Credit Accounts receivable $233,500

To record the receipt of cash from customers on account.

Explanation:

1) Data and Analysis:

a. Accounts receivable $270,000 Sales revenue $270,000

   Cost of goods sold $191,000 Inventory $191,000

b. Sales returns and allowances $36,500 Accounts receivable $36,500

  Inventory $19,270 Cost of goods sold $19,270

c. Cash $233,500 Accounts receivable $233,500

thompson corparations unadjusted trial balance includes the following balances assume normal balance accounts reciavable 1,865,000 allowance for doubtfull accounts 35,000 bad debts are estimated to be 6% of outstadning recievables what amount of bad debt expense will the company record

Answers

Answer: $76900

Explanation:

The following information can be deduced from the question:

Accounts receivable = $1,865,000

Allowance for doubtful debts = $35000

Estimated bad debt = 6% × $1,865,000 = $111900

The amount of bad debt expense that the company will record will be:

= Estimated bad debt - Allowance for doubtful debts

= $111900 - $35000

= $76900

Craigmont uses the allowance method to account for uncollectible accounts. Its year-end unadjusted trial balance shows Accounts Receivable of $134,500, allowance for doubtful accounts of $965 (credit) and sales of $1,075,000. If uncollectible accounts are estimated to be 4% of accounts receivable, what is the amount of the bad debts expense adjusting entry

Answers

Answer:

See below

Explanation:

Please see the computation below;

Amount uncollectible

= $134,500 × 4%

= $5,380

Then,

Bad debt

= $5,380 - $965

= $4,415

Therefore, the adjusting entry would be;

Bad debt account Dr $4,415

............................To Allowance for doubtful debt Cr $4,415

(Being bad debt expense that is recorded)

We debited bad debt expense here because it increases the expenses, while allowance for doubtful dent is credited because it decreases the assets.

The same question stem will be used in the next 5 questions. Question stem: Assume that banks hold 7 percent excess reserves, the currency to deposit ratio is 15 percent, and the required reserve ratio is 10 percent. Suppose that the Federal Reserve purchases 250 million dollars worth of bonds from the public. First question for this stem: What is the value of the deposit multiplier

Answers

Answer: 10

Explanation:

The Deposit multiplier is a number that enables us calculate the maximum total amount of money that can be generated from deposits in a bank after the bank has left a portion of its deposits as required reserves.

= 1 / Required reserve ratio

= 1 / 10%

= 10

Michelle operates several food trucks. Indicate the amount (if any) that she can deduct as an ordinary and necessary business deduction in each of the following situations.

a. Michelle moves her food truck between various locations on a daily rotation. Last week, Michelle was stopped for speeding. She paid a fine of $215 for speeding plus $170 for legal advice in connection with the ticket.
b. Michelle paid $865 to reserve a parking place for her food truck for the fall football season outside the local football arena. Michelle also paid $210 for tickets to a game for her children.
c. Michelle provided a candidate with free advertising painted on her truck during the candidate's campaign for city council. Michelle paid $960 to have the ad prepared and an additional $660 to have the ad removed from the truck after the candidate lost the election.

Answers

Answer:

a. Michelle moves her food truck between various locations on a daily rotation. Last week, Michelle was stopped for speeding. She paid a fine of $215 for speeding plus $170 for legal advice in connection with the ticket.

Speeding tickets and fines cannot be deducted as business expenses. But Michelle can deduct all legal expenses.

b. Michelle paid $865 to reserve a parking place for her food truck for the fall football season outside the local football arena. Michelle also paid $210 for tickets to a game for her children.

Michelle can deduct the $865 paid for the space outside the football field, but she cannot deduct the tickets (personal expenses).

c. Michelle provided a candidate with free advertising painted on her truck during the candidate's campaign for city council. Michelle paid $960 to have the ad prepared and an additional $660 to have the ad removed from the truck after the candidate lost the election.

Political donations are not deductible as business expenses.

Media outlets often have websites that provide in-depth coverage of news and events. Portions of these websites are restricted to members who pay a monthly subscription to gain access to exclusive news and commentary. These websites typically offer a free trial period to introduce viewers to the website. Assume that during a recent fiscal year, one outlet spent $2,368,800 on a promotional campaign for its website that offered two free months of service for new subscribers. In addition, assume the following information:

Number of months an average new customer stays with the service (including the two free months) 22 months
Revenue per month per customer subscription $21
Variable cost per month per customer subscription $7

Determine the number of new customer accounts needed to break even on the cost of the promotional campaign. In forming your answer:

a. treat the cost of the promotional campaign as a fixed cost
b. treat the revenue less variable cost per account for the subscription period as the unit contribution margin.

Answers

Answer: 8,905 customers

Explanation:

Breakeven = Fixed cost / Contribution Margin

Fixed cost = $2,368,800

Contribution margin = Revenue - Variable cost

Revenue will be for 20 months because there were 2 free months:

= 21 * 20

= $420 per customer

Variable cost = 7 * 22

= $154

Contribution margin = 420 - 154

= $266

Breakeven = 2,368,800 / 266

= 8,905 customers

Use Annual Cost Analysis to determine whether Alternative A or B should be chosen. The analysis period is 5 years. Assume an interest rate of 6% per year, compounded annually Alternative A Alternative B Initial Cost 2800 6580 Annual Benefit 450 940 Salvage Value 500 1375 Useful Life (yrs) 5 5 Group of answer choices Alternative A should be chosen, because its initial cost is lower than Alternative B's Alternative A should be chosen, because its equivalent annual cost is $252.15 lower than Alternative B's Alternative B should be chosen, because its annual benefit is higher than Alternative A's Alternative B should be chosen, because its equivalent annual cost is $252.15 higher than Alternative A's

Answers

Answer:

A should be chosen, because its equivalent annual cost is $252.15 lower than Alternative B's.

Explanation:

a) Data and Calculations:

Interest rate = 6% per year

                       Alternative A      Alternative B

Initial Cost             2800                 6580

Annual Benefit        450                   940

Salvage Value        500                  1375

Useful Life (yrs)        5                        5

Annuity factor = 4.212 for 5 years at 6%.

Present value factor = 0.747 for 5 years at 6%.

                              Alternative A      Alternative B

Present value of

 annual benefits       $1,895.40       $3,959.28

PV of salvage value       373.50           1,027.12

Total present value

of benefits               $2,268.90       $4,986.40

Initial Cost                  2,800               6,580

Net present value       $531.10        $1,593.60

The equivalent annual cost

= NPV/PV annuity factor

                             ($531.10/4.212)   ($1,593.60/4.212)

Equivalent annual cost $126.09      $378.35

Difference:

Alternative B = $378.35

Alternative A = $126.09

Difference =    $252.26

4. Between January 2012 and January 2019, U.S. employment
increased by 17.3 million workers, but the number of
unemployed workers declined by only 6.3 million. How are
these numbers consistent with each other? Why might one
expect a reduction in the number of people counted as
unemployed to be smaller than the increase in the number of
people employed?

Answers

Answer:

The fact that employment increased by 12.1 million workers while unemployment declined by only 7.3 million is consistent with the growth of the labor force by 4.8 million.

Explanation:

The fact that employment increased by 12.1 million workers while unemployment declined by only 7.3 million is consistent with the growth of the labor force by 4.8 million. One might expect a reduction in the number of people counted as unemployed to be smaller than the increase in the number of people employed because the labor force constantly increases as the population grows, and as the labor-force participation rate increases, the increase in employed might exceed the reduction in the number of unemployed.

From 1948 to 2022, the employment rate in the United States was around 59.22 % on average, the topic is further explained below.

What is the high rate of employment in the United States?

From 1948 to 2022, the employment rate in the United States was around 59.22 % on average, with a high of 64.70 percent in April 2000 and a low of 51.30 percent in April 2020.

Employment increased by 12.1 million workers while unemployment decreased by only 7.3 million, corresponding to a 4.8 million increase in the labor force. One might expect a decrease in the number of unemployed people to be smaller than an increase in the number of employed people because the labor force is constantly increasing as the population grows.

And as the labor-force participation rate rises, the increase in employed people may outnumber the decrease in the number of unemployed people.

Therefore, the above statement explains employment in the United States.

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The Sanding Department of Quik Furniture Company has the following production and manufacturing cost data for March 2017, the first month of operation. Production: 9,510 units started which is comprised of 6,510 units finished and transferred out and 3,000 units started that are 100% complete as to materials and 20% complete as to conversion costs. Manufacturing costs: Materials $35,948; labor $21,400; overhead $34,840.
Prepare a production cost report. (Round unit costs to 2 decimal places, e.g. 2.25.)
QUIK FURNITURE COMPANY
Sanding Department
Production Cost Report
For the Month Ended March 31, 2017
Equivalent Units Physical Units Conversion Costs Quantities Units to be accounted for Materials Work in process, March 1 Started into production Total units Units accounted for Transferred out Work in process, March 31 Total units
Conversion Costs Total Costs Unit costs Materials Total Costs Equivalent units Unit costs Costs to be accounted for Work in process, March 1 Started into production Total costs Cost Reconciliation Schedule Costs accounted for Transferred out Work in process, March 31 Materials Conversion costs Total costs

Answers

Answer:

Quick Furniture Company

The Sanding Department

Production Report

For the month of March 2017:

                                           Materials     Conversion     Total

Manufacturing costs          $35,948    $56,240        $92,188

Cost per equivalent unit:

Manufacturing costs          $35,948    $56,240

Equivalent units                    9,510            7,110

Cost per equivalent unit      $3.78         $7.91

Cost assigned to:

Units transferred out          $24,608      $51,494         $76,102

Ending Work in Process      $11,340        $4,746            16,086

Total costs assigned         $35,948     $56,240          $92,188

Explanation:

a) Data and Calculations:

                                          Materials     Conversion

Units started        9,510

Units completed  6,510      6,510           6,510

Ending WIP          3,000     3,000             600

Equivalent units                  9,510            7,110

Production Cost Report:

                                          Materials     Conversion     Total

Manufacturing costs          $35,948    $56,240        $92,188

Cost per equivalent unit:

Manufacturing costs          $35,948    $56,240

Equivalent units                    9,510            7,110

Cost per equivalent unit      $3.78         $7.91

Cost assigned to:

Units transferred out          $24,608      $51,494         $76,102  

                                ($3.78 * 6,510)    ($7.91 * 6,510)

Ending Work in Process      $11,340        $4,746            16,086

                                 ($3.78 * 3,000)    ($7.91 * 600)

Total costs assigned         $35,948     $56,240          $92,188

The Bandeiras Corporation, a merchandising firm, has budgeted its activity for December according to the following information:Sales at $650,000, all for cash.Merchandise inventory on November 30 was $300,000.The cash balance at December 1 was $38,000.Selling and administrative expenses are budgeted at $120,000 for December and are paid in cash.Budgeted depreciation for December is $65,000.The planned merchandise inventory on December 31 is $330,000.The cost of goods sold is 70% of the sales price.All purchases are paid for in cash.There is no interest expense or income tax expense.The budgeted cash receipts for December are:

Answers

Answer:

See below

Explanation:

The budgeted cash disbursement for December are;

Beginning cash balance

$38,000

Sales

$650,000

Selling and admin

($120,000)

* Purchases (see calculation below)

($485,000)

Closing cash balance

$83,000

We will use the below to get purchases

Opening stock + Purchases - Closing stock = Cost of sales

Therefore,

$300,000 + Purchases - $330,000 = 70% × $650,000

Purchases = $455,000 + $330,000 - $300,000

Purchases = $485,000

The budgeted cash disbursement

= Purchases + Selling and admin

= $485,000 + $120,000

= $605,000

Income Statement; Net Loss The following revenue and expense account balances were taken from the ledger of Guardian Health Services Co. after the accounts had been adjusted on February 28, 20Y0, the end of the fiscal year: Depreciation Expense $15,600 Insurance Expense 7,640 Miscellaneous Expense 6,080 Rent Expense 63,000 Service Revenue 299,500 Supplies Expense 3,740 Utilities Expense 24,020 Wages Expense 235,600 Prepare an income statement. Use a minus sign to indicate a net loss.

Answers

Answer:

-$56,180

Explanation:

Preparation of an income statement

INCOME STATEMENT

Service revenue $299,500

Less Expenses:

Depreciation expense $15,600

Insurance expense $7,640

Miscellaneous expense $6,080

Rent expense $63,000

Supplies expense $3,740

Utilities expense $24,020

Wages expense $235,600

Total expenses $355,680

Net loss -$56,180

($299,500-$355,680)

Therefore the income statement balance will be -$56,180

The __________ reflects the ups and downs of the nation’s real GDP.
A.
business cycle
B.
inflation rate
C.
consumer price index
D.
unemployment rate


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

Business cycle

Explanation:

The business cycle also refers to as the rise and fall of economic activity through periods of expansion and recession.

The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the unadjusted trial balance and the amounts of the adjustments are correct. Identify the errors in the accountant's adjusting entries, assuming that none of the accounts were affected by more than one adjusting entry.
Eva's Laundry
Trial Balances
May 31, 2018
Unadjusted Adjusted
Debit Balances Credit Balances Debit Balances Credit Balances
Cash . 7,500 7,500
Accounts Receivable . 18,250 23,250
Laundry Supplies 3,750 6,750
Prepaid Insurance* 5,200 1,600
Laundry Equipment . . 190,000 177,000
Accumulated Depreciation—Laundry
48,000 48,000
Accounts Payable 9,600 9,600
Wages Payable 1,000
Capital Stock . . 35,000 35,000
Retained Earnings 75,300 75,300
Dividends 28,775
Laundry Revenue 182,100 182,100
Wages Expense 49,200 49,200
Rent Expense . . 25,575 25,575
Utilities Expense . 18,500 18,500
Depreciation Expense 13,000
Laundry Supplies Expense 3,000
Insurance Expense 600
Miscellaneous Expense .3,250 3,250
350,000 350,000 358,000 351,000

Answers

Answer:

See the errors identified below.

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answer is now given as follows:

The following errors can be identified in the accountant's adjusting entries:

1.The accountant debited the account receivable for $5,000 (i.e. $23,250 - $18,250 = $5,000) without crediting laundry revenue.

Therefore, we should have:

Correct amount of laundry revenue = Laundry revenue in trial balance + (Adjusted account receivable - Unadjusted account receivable) = $182,100 + ($23,250 - $18,250) = $187100

2. The accountant debited laundry suppliers expense instead of crediting laundry suppliers for $3,000.

3. The the accountant credited Prepaid insurance for $3,600 (i.e. $5,200 - $1,600 = $3,600). However, the insurance expense was debited for $600.

4. Instead of crediting accumulated depreciation, the laundry equipment for depreciation expense was erroneously credited by the accountant for $13,000.

5. A debit of $1,000 to wages expense was not made by the accountant.

Additional Note:

After correcting the errors identified above, the correct adjusted trial balance will look as the one in the attached photo.

Marlin Corporation reported pretax book income of $1,001,000. During the current year, the net reserve for warranties increased by $25,200. In addition, book depreciation exceeded tax depreciation by $100,100. Finally, Marlin subtracted a dividends received deduction of $15,100 in computing its current year taxable income. Marlin's current income tax expense or benefit would be:

Answers

Answer:

$233,352

Explanation:

Calculation to determine what Marlin's current income tax expense or benefit would be:.

Marlin's current income tax expense =[($1,001,000 + $25,200 + $100,100 − $15,100)*21%]

Marlin's current income tax expense= $1,111,200 × 21%

Marlin's current income tax expense=$233,352

Therefore Marlin's current income tax expense or benefit would be:$233,352

which one of the following best describes the human need?
a.fries
b.burger
c.pizza
d.food
e.none

Answers

Answer:

d. Food.

Explanation:

Human needs consist of numerous things, ranging from money to food to safety. And depending on the severity of a situation, one can always list what one thinks is the most important for a person.

Among the given list of things in the question, the most important that describes the human need is food. Without food, it is not possible for a person to live and survive. Food is and will always constitute one of the most important human needs.

consists of the interlocking functions of ceating corporate policy and organizing,planning,controlling and directing an oragunzation’s resources in order to achieve the objectives of that policy

Answers

Answer:

Management

Explanation:

Management can be regarded as process that encompass planning, decision making as well as organizing and leading in order to Control human resources, information resources as well as financial resources of organization in order to achieve the goals set by the organization. it should be noted that management consists of the interlocking functions of ceating corporate policy and organizing,planning,controlling and directing an oragunzation’s resources in order to achieve the objectives of that policy, which is Peter Drucker point of view about management.

:

On June 30, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on the variable costing concept:

Sales (420,000 units) $7,450,000
Variable cost of goods sold:
Variable cost of goods manufactured (500,000 units x $14 per unit) $7,000,000
Less ending inventory (80,000 units x $14 per unit) 1,120,000
Variable cost of goods sold 5,880,000
Manufacturing margin $1570000
Variable selling and administrative expenses 80,000
Contribution margin $1490,000
Fixed costs:
Fixed manufacturing costs $160,000
Fixed selling and administrative expenses 75,000 235,000
Income from operations $1255,000

Required:
a. Prepare an absorption costing income statement.
b. Reconcile the variable costing income from operations of $1,255,000 with the absorption costing income from operations determined in (a).

Answers

Answer:

A. $1,280,600

B. $1,280,600

Explanation:

A. Preparation of an absorption costing income statement.

Tudor Manufacturing Co.

Absorption Costing Income Statement

For the Month Ended June 30, 2014

Sales (420,000 units) $7,450,000

Cost of goods manufactured $7,160,000

(500,000 units x $14.32 per unit)

($160,000 / 500,000 units = $0.32 per unit)

($14 per unit + $0.32 per unit = $14.32 per unit)

Less ending inventory $1,145,600

(80,000 units x $14.32 per unit)

Cost of goods sold $6,014,400

Gross profit $1,435,600

($7,450,000 - $6,014,400)

Selling and administrative expenses:

Variable selling and administrative expenses $80,000

Fixed selling and administrative expenses $75,000 $155,000

Income from operations $1,280,600

($1,435,600 - $155,000)

Therefore the absorption costing income statement will be $1,280,600

B.Calculation to Reconcile the variable costing income from operations of $1,255,000 with the absorption costing income from operations determined in (a)

First step is to calculate ending inventory difference

Ending inventory difference = $1,145,600 - $1,120,000

Ending inventory difference = $25,600

Now let Reconcile the variable costing income from operations

Reconciliation of Variable Costing and Absorption Costing Incomes from Operations

Variable costing income from operations $1,255,000

Add: Difference between absorption costing and variable costing ending inventories $25,600

Absorption costing income from operations $1,280,600

($1,255,000+$25,600)

Therefore the variable costing income from operations of $1,255,000 with the absorption costing income from operations determined in (a) will be $1,280,600

Match the instances to the marketing utilities that they satisfy toward value proposition.

Answers

Answer:

match place with she has her ice cream shop outside the school

match form with blends with the richest ingredients

match offers credit to school kids... with possession

match lists the nutritional value...... with information utility

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