Answer:
Date General Journal Debit Credit
Apr 8 Cash $8,448
Credit card expenses $352
(8,800 * 4%)
Sales $8,800
(Sales of merchandise, receipt of cash
and credit card charges recorded
Apr 8. Cost of Goods sold $6,503
Merchandise Inventory $6,503
(Cost of goods sold recorded)
Apr 12. Cash $8,385
Credit card expense $215
(8,600 * 2.5%)
Sales $8,600
(Sales of merchandise, receipt of cash
and credit card charges recorded
Apr 12 Cost of goods sold $5,573
Merchandise Inventory $5,573
(Cost of goods sold recorded)
Some of the most common applications of real options are with property and insurance. A real estate option grants the holder the right to buy or sell a piece of property at an established price sometime in the future. If the price of the property goes _____, the owner of the option is likely to buy it. If the market value of the property ______ the strike price, the option holder is unlikely to execute the purchase.
Answer: up; drops below
Explanation: An option holder may be reffered to an individual who owns an option. Owning an option means that the option holder has the right to buy or sell an asset at a given price sometimes later. Therefore, as an option holder who possess the right to buy or sell, if the established price of the property or asset goes up or increases, the option holder will likely make a purchase or not if the Fair value of the property falls below the price at which the option can be exercised.
Comparative advantage is Question 13 options: the ability to produce all goods at lower costs than anyone else can. the ability to produce a good at a lower opportunity cost than other producers. the ability to produce more output from given inputs than another producer can. the ability to produce more output of all goods than any
Answer: the ability to produce a good at a lower opportunity cost than other producers
Explanation: In other to clearly understand or grasp the definition or meaning of comparative advantage, the term opportunity cost should be understood. Opportunity cost simply means the benefit which one forfeits or losses when one chooses a certain option over the other. Comparative advantage is possessed by a certain seller or economy who is capable of selling his goods at a lower opportunity cost than its competitors. Thus, the comparative advantages weighs the size or amount of benefit forfeited or lost by sellers as a result of selling at a lower price. Thus the lower the opportunity cost, the better the comparative advantage.
According to an old myth, Native Americans sold the island of Manhattan about 400 years ago for $24. If they had invested this amount at an interest rate of 7 percent per year, how much, approximately, would they have today
Answer:
FV= $13,605,744,645,293.70
Explanation:
Giving the following information:
Initial investment= $24
Number of years= 400
Interest rate= 7 percent compounded annually
To calculate the value of the investment today, we need to use the following formula:
FV= PV*(1+i)^n
FV= 24*(1.07^400)
FV= $13,605,744,645,293.70
Answer:
They would have approximately $14 000 000 000 000.
Explanation:
From the compound interest formula,
Amount = P[tex](1 + \frac{r}{n}) ^{t}[/tex]
Given that: P = $24, R = 7%, t = 400 years,
Amount = 24[tex](1 + \frac{7}{100}) ^{400}[/tex]
= 24[tex](\frac{107}{100}) ^{400}[/tex]
= 1.360574465 × [tex]10^{13}[/tex]
The amount they would have is approximately $1.4 × [tex]10^{13}[/tex]
On October 29, 2016, Lobo Co. began operations by purchasing razors for resale. Lobo uses the perpetual inventory method. The razors have a 90-day warranty that requires the company to replace any nonworking razor. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company’s cost per new razor is $20 and its retail selling price is $75 in both 2016 and 2017. The manufacturer has advised the company to expect warranty costs to equal 8% of dollar sales. The following transactions and events occurred.
2016
Nov. 11 Sold 105 razors for $7,875 cash.
30 Recognized warranty expense related to November sales with an adjusting entry.
Dec. 9 Replaced 15 razors that were returned under the warranty.
16 Sold 220 razors for $16,500 cash.
29 Replaced 30 razors that were returned under the warranty.
31 Recognized warranty expense related to December sales with an adjusting entry.
2017
Jan. 5 Sold 150 razors for $11,250 cash.
17 Replaced 50 razors that were returned under the warranty.
31 Recognized warranty expense related to January sales with an adjusting entry.
1.1 Prepare journal entries to record above transactions and adjustments for 2016.
2. How much warranty expense is reported for November 2016 and for December 2016?
Warranty Expense for November 2016 ?????
Warranty expense for December 2016 ?????
3. How much warranty expense is reported for January 2017?
4. What is the balance of the Estimated Warranty Liability account as of December 31, 2016?
5. What is the balance of the Estimated Warranty Liability account as of January 31, 2017?
Answer:
Nov 11
Dr Cash 7,875
Cr To Sale 7,875
Nov. 11
Dr Cost of Goods Sold 2,100
Cr To Inventory 2,100
Nov. 30
Dr Warranty Expenses 630
Cr To Warranty Liability 630
Dec. 9
Dr Warranty Liability 300
Cr To Inventory 300
Dec. 16
Dr Cash 16,500
Cr To Sales 16,500
Dec. 16
Dr Cost of Goods Sold 4,400
Cr To Inventory 4,400
Dec. 29
Dr Warranty Liability 600
Cr To Inventory 600
Dec. 31
Dr Warranty Expenses 1,320
Cr To Warranty Liability 1,320
1.b Journal Entries for 2017
Jan 5
Dr Cash 11,250
Cr To Sales 11,250
Jan 5
Dr Cost of goods sold 3,000
Cr To Inventory 3,000
Jan 17
Dr Warranty Liability 1,000
Cr To Inventory 1,000
Jan 31
Dr Warranty Expenses 900
Cr To Warranty Liability 900
2)a. Warranty Expenses= $630
2b. Warranty Expenses= $1,320
3). Warranty Expenses= $900
4). Estimated Warranty Liability Account $1,050
5). Estimated Warranty liability account $900
Explanation:
Preparation of the Journal entries for Lobo Co
Journal Entries for 2016 for Lobo Co
Nov 11
Dr Cash 7,875
Cr To Sale 7,875
Nov. 11
Dr Cost of Goods Sold 2,100
Cr To Inventory (20*$105) 2,100
Nov. 30
Dr Warranty Expenses 630
($7,875*8%)
Cr To Warranty Liability 630
Dec. 9
Dr Warranty Liability 300
(15*$20)
Cr To Inventory 300
Dec. 16
Dr Cash 16,500
Cr To Sales 16,500
Dec. 16
Dr Cost of Goods Sold 4,400
Cr To Inventory 4,400
(220 * $20)
Dec. 29
Dr Warranty Liability 600
(30*$20)
Cr To Inventory 600
Dec. 31
Dr Warranty Expenses 1,320
($16,500*8%)
Cr To Warranty Liability 1,320
1.b Journal Entries for 2017
Jan 5
Dr Cash 11,250
Cr To Sales 11,250
Jan 5
Dr Cost of goods sold 3,000
(150*$15)
Cr To Inventory 3,000
Jan 17
Dr Warranty Liability 1,000
(50*$20)
Cr To Inventory 1,000
Jan 31
Dr Warranty Expenses 900
(11,250*8%)
Cr To Warranty Liability 900
2)a. Warranty Expenses for Nov. 2016
Warranty Expenses= $7,875*8%
Warranty Expenses= $630
2b. Warranty Expenses for Dec. 2016
Warranty Expenses= $16500*8%
Warranty Expenses= $1,320
3). Warranty Expenses for Jan. 2017
Warranty Expenses= $11,250*8%
Warranty Expenses= $900
4). Estimated Warranty Liability Account as on Dec. 31, 2016
Estimated Warranty Liability Account= $630 + $1,320 - $300 - $600
Estimated Warranty Liability Account= $1950- $900
Estimated Warranty Liability Account= $1,050
5). Estimated Warranty liability account as on Jan. 31, 2017
Estimated Warranty liability account = $1,050 + $900 - $1,050
Estimated Warranty liability account= $900
A small publishing company is planning to publish a new book. The production costs will include one-time fixed costs (such as editing) and variable costs (such as printing). The one-time fixed costs will total 49982. The variable costs will be $8.50 per book. The publisher will sell the finished product to bookstores at a price of 25.25 per book. How many books must the publisher produce and sell so that the production costs will equal the money from sales
Answer:
Break-even point in units= 2,984 units
Explanation:
Giving the following information:
The one-time fixed costs will total 49982. The variable costs will be $8.50 per book. The publisher will sell the finished product to bookstores for 25.25 per book
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 49,982/ (25.25 - 8.5)
Break-even point in units= 2,984 units
The CEO of Fox Mart wants to know what his company's financial position looked like on the 31st of December of the previous year. The financial report he should look at is the company's _____.
Answer: balance sheet
Explanation:
The balance sheet helps to show the summary of the finances of a company. The balance sheet consist of the assets, liabilities, the equity capital, the total debt, etc of a company.
If the CEO of Fox Mart wants to know what his company's financial position looked like on the 31st of December of the previous year. The financial report he should look at is the company's balance sheet.
Forrest is considering moving his business from a bricks-and-mortar and online establishment to a purely e-business. He is considering this move because the bricks-and-mortar business is not receiving sufficient foot traffic to keep it operational, but the online operation is creating significant revenues. By moving his inventory to an industrial building, customers that still want to pick-up merchandise in person may do so, but he will save on the expenses associated with curb-appeal. He believes he will also be able to operate the business with fewer people and, when closing time comes, can turn off the lights, close the door and leave, but orders can still be placed due to the 24-hour nature of the Internet. Based on the information given, what is the primary environmental force moving Forrest away from a bricks-and-mortar establishment to a purely e-business
Answer:
The Internal environment forces
Explanation:
The internal environment forces are the factors within the organization that directly impact on the daily operational activities of an organization.
Looking at the situation of Forrest as described in the scenario , we can see that the major changes that it will introduce by migrating to a purely e business like using few people, reduced administrative and operating expenses , 24 hours ordering are majorly internal activities , which will address the areas that could have been hindering its efficiency in the previous business activities.
Analyse how fiscal policy measures could reduce inflation.
Answer:
In order to control the demand-pull inflation, the Government undertakes some monetary measures and incorporates certain changes to the fiscal policy.One of the commonly used measures to control inflation is controlling the money supply in the economy. If the Government decreases the supply of money, then the demand will fall, leading to a fall in prices. Therefore, the Government may decide to withdraw certain paper notes and/or coins from circulation. This decreases the money supply.
Explanation:
Which organization does not work for consumers
Federal trade comission
Food and drug administration
Federal treasury
Better business bureau
Answer:
Which organization does not work for consumers
Federal treasury
Explanation:
The other three are consumer-focused. But the Federal Treasury is a US government agency that advises government on fiscal matters. It performs some law enforcement activities to help government enforce laws on fiscal policies. It is also responsible for manufacturing the currency and postage stamps. Finally, it has responsibility for the supervision of national banks in the United States.
Answer:
It might b
Explanation:
Which of the following actions would cause the aggregate demand curve to shift to the left? A. an increase in government spending caused by increased spending on highways and bridge construction B. a decrease net export spending caused by an appreciation of the home currency C. an increase in exports caused by an increase in economic activity in the European Union D. an increase in consumer spending caused by a cut in the personal income tax rate
Answer:
B. a decrease net export spending caused by an appreciation of the home currency
Explanation:
When the aggregate demand curve shifts to the left, it means that total consumer spending decreases. This decrease might result from consumers having less money due to a rise in unemployment, high inflation, a decrease in economic activity or an increase in taxes. This type of shift is specially "dangerous" for the economy because consumer spending represents almost 70% of the GDP.
In this case, the appreciation of the US dollar resulted in a decrease in economic activity of exporting companies.
A salesperson at Plumbers Warehouse searches public records of new building permits to identify potential customers for new bathrooms. This salesperson is relying on ____ to identify sales prospects.
Complete Question:
A salesperson at Plumbers Warehouse searches public records of new building permits to identify potential customers for new bathrooms. This salesperson is relying on ____ to identify sales prospects.
Group of answer choices
A) personal referrals
B) marketer-initiated contacts
C) impersonal referrals
D) customer-initiated contacts
Answer:
C) impersonal referrals.
Explanation:
In this scenario, a salesperson at Plumbers Warehouse searches public records of new building permits to identify potential customers for new bathrooms. This salesperson is relying on impersonal referrals to identify sales prospects.
An impersonal referrals can be defined as the process of acquiring informations about a potential customer from personal sources, public records etc. It is one of the common techniques used in prospecting, which typically involves the continual process of systematically looking or sourcing for new customers.
Which of the following statements is true of organizational behavior knowledge? 1 point A. It is relevant to everyone who works in organizations. B. It should never be used to influence the behavior of other people. C. It should be used by managers and senior executives alone. D. It should not be used by subordinates to influence the behavior of their managers. E. It is less significant when the level of interpersonal interaction is high
Answer:
A. It is relevant to everyone who works in organizations
Explanation:
The organization behaviour is the study of human behaviour that takes place in an organised environment. The organisation behaviour is categorized into three levels as macro, micro and meso level. It has influences n a multiple of disciplines as sociology, psychology and economics. The best-known authors are those of the henry fayol, Chester Barnes and others.Organizational behavior expertise is relevant to everybody who works in companies.
So, option A. (It is relevant to everyone who works in organizations.) is correct.
What Is Organizational Behavior?The systematic study and use of knowledge about just how individuals and groups conduct inside the organizations where they work is known as organizational behavior (OB).
Organizational knowledge allows for a greater understanding of knowledge requirements. It maintains a steady stream of high-quality results and encourages long-term growth.
Organizational behavior expertise is relevant to everybody who works in companies.
So, option A. (It is relevant to everyone who works in organizations.) is correct.
Find out more information about organizational behavior here:
https://brainly.com/question/18882734?referrer=searchResults
Two years ago, a customer purchased 1,000 shares of ABC stock at $45 per share. The stock has appreciated in value and is currently worth $60,000. The company announces that it is spinning off a subsidiary, DEF, to its shareholders. The value of the new company being spun off equals 5% of the old company. The customer will have:___________
Answer:
Explanation:
Spin off can be defined as the splitting of the shares of an existing company in order to form an independent new entities as part of larger business.
In calculating the spill off value of a business ,the aggregate cost of the business is used and not the aggregate cost.
Workings
Shares stock acquired = 1,000
initial share price = $45
Total share value = 45*1000=45,000
Percentage split off to DEF= 5%
Value split off = 5%*45,000 =2,250
Percentage retained in ABC = 95%*5,000
=42,750
what general political Trend coincided with the significant increase in private and corporate spending
What general political trend coincided with a significant increase in private and corporate spending in political campaigns at the turn of the 21st-century
Answer:
A withdrawal of people from the public sphere
Explanation:
At the beginning of 21-century or the new millennium, various research have shown that, coupled with the advent of the internet fair loss of interest in active politics by the general populace, a larger percentage of the general public has withdraw from the public space in terms of politics. This has led to substantial increase in private and corporate spending in political campaigns at the turn of the 21st-century.
Hence, the right answer is: A withdrawal of people from the public sphere
If you perceive that the costs and rewards are balanced between you and your partner, you are more likely to be satisfied with your relationship.
a. True
b. False
You are in charge of paying claims submitted by providers. You notice a certain diagnostic provider ("Doe Diagnostics") requested a substantial payment for a large number of members. Many of these claims are for a certain procedure. You review the same type of procedure for other diagnostic providers and realize Doe Diagnostics' claims far exceed any other provider you reviewed. What should you do?
Answer:Consult with your immediate supervisor for next steps or contact the compliance department
Explanation:
Certain careful checks are really important in organization handling payments and documentation for the public and private sector, as many firms don't and won't want to follow the right procedure and doing so puts your own organization to the risk of it. It's better they are carefully observed and actions followed up immediately by contacting either your supervisor or reporting to the authorities.
A real estate office handles a 80-unit apartment complex. When the rent is $550 per month, all units are occupied. For each $25 increase in rent, however, an average of one unit becomes vacant. Each occupied unit requires an average of $50 per month for service and repairs. What rent should be charged to obtain a maximum profit
Answer:
The real estate should charge $1,300 to obtain maximum profit.
Explanation:
We can make K to represent the number of unit apartment occupied.
This means that the total rent the real estate office is getting can be denoted by;
{(550 + 25(80 - K)} K - 50K
Maximizing the above equation, we have;
y = 550K + 2,000K - 25K^2 - 50K
Collect like terms
= 2,500K - 25K^2
y' = (2,500K - 25K^2)' = 2,500 - 50K
y = 0
2,500 - 50K = 0
2,500 = 50K
K= 50
Rent is therefore;
Rent = 550 + (80 - K)25, where K is 50
= 550 + (80 - 50)25
= 550 + (30)25
= 550 + 750
= $1,300
Timothy, a laboratory manager at a multinational photography company, manages a team of seven designers. All of them report to him, and he has the power to command them and assign duties to them. In this scenario, Timothy most likely has_____.
Answer:
line authority
Explanation:
Line authority is when someone that has a supervisor position has the power to give orders to his/her subordinates in order to accomplish the company's goals. According to this, the answer is that in this scenario, Timothy most likely has line authority because he has a team that he supervises and he has the authority to assign duties to them.
A more professional focus of running events started to take place during the late 1800s. The catalyst for such a professional focus emphasis occurred due to A. the number of career opportunities. B. the multitude of events that were occurring. C. television's impact on events. D. a desire to increase profits.
Answer: D. a desire to increase profits
Explanation:
During the late 1800s, a more professional focus of running events began to take place. The main reason for such a professional focus emphasis occurred due to a desire to increase profits.
It was realized that having a more professional focus on running events could bring about more funds and also bring about more intersted spectators.
__________ is associated with a person who is crafty or understands right/wrong behavior but uses tricks to obtain an unfair advantage.
Answer:
Guile
Explanation:
Guile is associated with a person who is crafty or understands right/wrong behavior but uses tricks to obtain an unfair advantage.
For instance, you have an urgent appointment such as a meeting with a business partner but you chose to deceitfully distract him from the fact that you are already lagging behind schedule (time) by telling a joke or mind blowing story. This is typically an example of Guile.
Tapestry Corporation will spend $1 million for special production equipment. Shipping and installation charges will amount to $175,000 and an initial increase in net working capital of $50,000 will be required. The equipment will replace an existing machine that has a salvage value of $85,000 and a book value of $100,000. Executives expect revenue to increase by $200,000 per year with no increase in operating expenses. If Tapestry has a corporate tax rate of 21%, what is the amount of the initial outlay for this project?
Answer:
($1,136,850)
Explanation:
The computation of the initial outlay is shown below:
Purchase price (-1,000,000 - $175,000) (1,175,000) (A)
machine proceeds
{$85,000 + ($100,000 - $85,000) × 0.21} $88,150 (B)
Net working capital ($50,000) (C)
Initial outlay ($1,136,850) (A - B + C)
Hence, the initial outlay is ($1,136,850)
We basically applied the above calculation to arrive at the answer
Anderson sold a property to Kelly. The contract contained the following statement: "Buyer to accept the property in an 'as is' condition." Both the seller and the broker knew that the plumbing was in a major state of disrepair, but did not tell Kelly. Would an action against the broker and the seller be successful?
Answer:
The action against the seller by Kelly would not be successful. This is because, the contract agreement drafted by the seller contains that clause "as in" condition. It would be believed that, Kelly saw the condition in the contract, but still went ahead to purchase the house by signing the seller's contract agreement of sell. Whatever state the house is in would be taken by Kelly.
Explanation:
Fifty years ago, a high school diploma was the minimum requirement for entry to the paid labor force in the US. Today a college degree is virtually the bare minimum. This change reflects the process of
Answer: Credentialism
Explanation:
Credentialism is when credentials that are given by professional bodies, educational institutions etc are being relied upon and used as qualifications to know if someone can do a particular job or not.
Fifty years ago, a high school diploma was the minimum requirement for entry to the paid labor force in the US. Today a college degree is virtually the bare minimum. This change reflects the process of credentialism.
Name the one sport in which neither the spectators nor the participants know the score or
the leader until the contest ends.
Answer:
Boxing
Explanation:
All duties required by the stairway and ladder rules must be performed _______ employees begin work that requires them to use stairways or ladders and their respective fall protection systems.
Answer:
Before.
Explanation:
In work related environments, stairways and ladder systems are generally considered to be the major source of fatalities, injuries or bodily harm being experienced by the workers who are working in construction sites.
According to the Occupational Safety and Health Administration (OSHA), all duties required by the stairway and ladder rules must be performed before employees begin work that requires them to use stairways or ladders and their respective fall protection systems.
This ultimately implies that, before any employee commences a work that requires the use of a stairway or ladder, all of the guidelines, rules and standard procedures should have been followed or done.
purchased a depreciable asset for $604000 on January 1, 2018. The estimated salvage value is $64000, and the estimated useful life is 9 years. The straight-line method is used for depreciation. In 2021, Sheffield changed its estimates to a total useful life of 5 years with a salvage value of $81000. What is 2021 depreciation expense?
Answer:
$171,500
Explanation:
The computation of the depreciation expense for the year 2021 is shown below:
For accumulated depreciation
= ($604,000 - $64,000) × 3 years ÷ 9 years
= $180,000
Now the depreciation expense for the year 2021 is
= ($604,000 - $180,000 - $81,000) ÷ ( 5 years - 3 years)
= $171,500
Hence, the depreciation expense for the year 2021 is $171,500
What strategy benefits both companies and employees since it increases a company's ability to recruit and retain workers and allows employees to balance work and home life by allowing them to choose their starting and ending times, as long as they are there during a specified core period
Answer:
Dont know sorry
An inventory system is a set of policies and controls that monitors levels of inventory and determines what levels should be maintained, when stock should be replenished, and how large orders should be.
Answer: True
Explanation:
Inventory looks at managing items in an organization; what goes in and come out, in their right proportion and different sizes, according to their usage and what they'll be assigned to. The importance of inventory is for appropriate stock keeping and accessibility when needed.
When Louis Martin was born, her father deposited $2000 in a savings account in her name at a savings and loan association (S&L). At the time, the S&L paid 6% interest compounded semi annually. After 10 years, the S&L changed to a rate of 6% compounded quarterly. What was the value of the account after 18 years when the money was withdrawn to help pay for her college expenses
Answer:
FV= $5,812.85
Explanation:
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
First investment:
PV= 2,000
i= 0.06/2= 0.03
n= 10*2= 20
FV= 2,000*(1.03^20)
FV= $3,612.22
Second investment:
PV= 3,612.22
i= 0.06/4= 0.015
n= 8*4= 32
FV= 3,612.22*(1.015^32)
FV= $5,812.85
_______________________ is a desirable property of transactions that ensures that once a transaction is committed its results should persist, even if there is a subsequent system failure. Atomicity Concurrency Durability Serializability\
Answer:
Concurrency is a desirable property of transactions that ensures that once a transaction is committed its results should persist, even if there is a subsequent system failure.
Explanation:
