Answer:
Explanation:
When a sales is made on credit, the primary accounts that are affected are the sales accounts and the accounts receivable , with a credit entry of the sales value to the sales account and the same value in the receivable account. We also need to know that the cost of the item is credited to the inventory and debited to the cost of goods respectively.
However , when the sales is returned , the above entry will be reversed and a reversal entry is recorded as below
Credit account receivable - $500
Debit sales return = $500
Debit merchandise inventory $150
Credit cost of goods $150
"Literacy is prerequisite of development. Justify this statement with examples.
Answer:
The classification of the subject in question is mentioned throughout the paragraph below.
Explanation:
Literacy seems to be a developmental requirement since knowledge and learning require the ability or skills to read and understand. Each body produces to speak and understand skills. Upcoming generation, as well as young ones, is incredibly knowledgeable, individuals who could get strong knowledge only need a graduate assistantship.
Megan is a salesperson for a company that manufactures chemicals. While reviewing her new leads, Megan learned that two of them just signed contracts with one of her company's major competitors. Which of the following best describes why Megan will not consider these two leads as sales prospects?a. They do not have the budget or financial resources to purchase the product.b. They do not have a need for the products or services her company is offering.c. They are too busy to meet with salespeople.d. They do not have the authority to make a purchase decision.e. They are not in her company's target market.
Answer: They do not have a need for the products or services her company is offering.
Explanation:
From the question, we are informed that Megan is a salesperson for a company that manufactures chemicals and that while reviewing her new leads, she learned that two of them just signed contracts with one of her company's major competitors.
Megan will not consider these two leads as sales prospects because they do not have a need for the products or services her company is offering. This is because they signed a contract with their competitors.
Assume Jones Manufacturing begins March with 20 units of inventory that cost $15 each. During March, the following purchases and goods sold were: March 15 Purchased 25 units at $18 30 Sold 30 units Using the FIFO inventory costing method and the perpetual system, what is the ending Merchandise Inventory on March 30?
Answer:
$270
Explanation:
The computation of the ending inventory using the FIFO method is shown below:
But first we have to determine the ending inventory units which is shown below:
= Beginning units + purchased units - sale units
= 20 units + 25 units - 30 units
= 15 units
Now the ending inventory is
= 15 units × $18
= $270
Hence, the ending inventory is $270
Pete noticed a pattern at the annual budgeting session of his company. Mid-level managers were asking for unrealistically high budgets while top management was attempting to limit budgets under last year's actual expenditures. Management used ________ strategies.
Answer:
Tactical behavior.
Explanation:
In this scenario, Pete noticed a pattern at the annual budgeting session of his company. Mid-level managers were asking for unrealistically high budgets while top management was attempting to limit budgets under last year's actual expenditures. Hence, we can safely conclude that the management used tactical behavior strategies.
Tactical behavior strategy can be defined as the process of using tactics or maneuvers to achieve the best outcome which is aimed beyond an immediate action to problems.
A deficit on the current account Group of answer choices normally causes a surplus on the capital and financial account. has no relationship to the capital and financial account. means that a nation is making international transfers. normally causes a deficit on the capital and financial account.
Answer:
normally causes a surplus on the capital and financial account.
Explanation:
A deficit can be defined as an amount by which money, falls short of its expected value.
In Financial accounting, deficit is usually as a result of revenue falling below expenses or expense exceeding revenue at a specific period of time.
For instance, if in a country liabilities exceeds assets or import exceeds export there would be a deficit in the financial account of the country.
Generally, a deficit on the current account normally causes a surplus on the capital and financial account. This is simply as a result of a country having to import more goods and services than it is exporting to other countries in trade.
In conclusion, a deficit on the current account is because the value of goods and services exported is lower than the value of goods and services being imported in a particular country.
5 years ago, an individual had invested $10,000 in an Investment Trust. Over those years, the trust has distributed $2,000, consisting of $1,600 of dividends and $400 of capital gains. The investor has reinvested these distributions in additional trust units. The investor's aggregate current cost basis in the Trust is:
Answer: $12,000
Explanation:
From the question, we are informed that years ago, an individual had invested $10,000 in an Investment Trust and that over those years, the trust has distributed $2,000, consisting of $1,600 of dividends and $400 of capital gains and also that the investor has reinvested these distributions in additional trust units.
The investor's aggregate current cost basis in the Trust will be the beginning basis which was $10,000 added to the $2000 that was distributed. This will be $12,000.
Considere que a empresa vale dos lirios Ltda, recebeu por meio de caixa, o valor registrado an conta de clientes referente a venda efetuada no mês de marco/2020- no valor de $3.400,00. Qual a alternativa que corresponde o método das partidas dobradas?
Responda:
Por favor, verifique a explicação
Explicação:
O método de dupla entrada simplesmente se refere a um princípio contábil em que cada transação realizada tem um registro duplo, ou seja, se uma operação de crédito é realizada, o débito correspondente é registrado, da mesma forma, quando ocorre um débito, o lançamento a crédito correspondente também é registrado ao lado.
No cenário acima, a entrada de débito do ativo adquirido pelo cliente à vista de R 3.400 enquanto a vale Lirios Ltda é creditada com o dinheiro recebido na venda de seu ativo.
Ativo Caixa R $ 3.400 - - - - Débito
vale Lirios Ltda (ativo) R $ 3.400 - - - crédito
Company A has a patent with a book value of $500,000. At December 31, 2019, the fair value of the patent is determined to be $450,000. The expected future cash flows associated with the patent is $650,000. What amount of impairment should Company A record on this patent at 12/31/19?
Answer:
$50,000
Explanation:
A patent should be recorded at fair market value. When the book value of a patent is higher than its market value, then its book value should decrease. This decrease in the book value is called impairment.
In this case, the patent's book value is $500,000, but its market value is $450,000. The impairment loss = $500,000 - $450,000 = $50,000.
Century Real Estate’s primary broker is John Kerr. John is licensed as the broker of that company and he is licensed as a broker sales associate in his brother-in-law’s firm of Boch Real Estate, where John only works once a week or so. In this case:
Answer:
The broker is doing two different jobs; so it is okay to have two different licenses.
Explanation:
In this case, since the broker is doing two different jobs then it is okay for him to have two different licenses. In a hypothetical case that the individual Broker was doing the same job role for two different companies then that would be considered a form of conflict of interest and may cause problems with both firms in the future. Since this is not the case, then he should not have any problem.
A company has revenues of $1,250,000 with a net profit margin of 10%. If the depreciation for the year is $75,000, short-term investments decreased by $15,000, accounts receivable increased by $10,000, inventory decreased by $5,000 and accounts payable decreased by $6,000, what is the net cash provided by operations.
Answer:
$204,000
Explanation:
The computation of net cash provided by operations is shown below
Cash flow from operating activities
Net profit ($1,250,000 × 10%) $125,000
Add: depreciation expense $75,000
Add: Decrease in short term investment $15,000
Less: Increase in account receivable -$10,000
Add: Decrease in inventory $5,000
Less: Decrease in account payable -$6,000
Net Cash provided by operations $204,000
The minus sign depicts the cash outflow and the positive sign depict the cash inflow
Payroll deductions are the same for all employees. True False
Answer:
may be yeah...it can be true
Answer:
False
Explanation:
because it would mean that all the jobs that are done are the same just like your work position like manager, and other stuff like that
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]
Sarah Meeham blends coffee for Tasti-Delight. She needs to prepare 170 pounds of blended coffee beans selling for $3.76 per pound. She plans to do this by blending together a high-quality bean costing $5.00 per pound and a cheaper bean at $2.00 per pound. To the nearest pound, find how much high-quality coffee bean and how much cheaper coffee bean she should blend
Answer:
The quantity of high-quality coffee been is 100 and cheaper coffee bean is 70.
Explanation:
Let the quantity of high-quality coffee bean = x
The price of high-quality bean = $5 per pound.
Let the cheaper coffee bean = y
The price of cheaper coffee bean = $2 per pound.
So, from the equation there are two equation can be formed.
x + y = 170
5x + 2y = 170×3.76
Now, solve both the equation for the value of x and y.
x + y = 170
x = 170-y
now insert, x = 170 – y in the below equation.
5x + 2y = 170×3.76
5 (170 – y) + 2y = 639.2
850 – 5y + 2y = 639.2
-3y = 639.2 – 850
- 3y = -210.8
y = 70.26 or the 70
now insert 70 in x = 170-y.
x = 170 – 70
x = 100
Thus, the quantity of high-quality coffee been is 100 and cheaper coffee bean is 70.
A member of the city commission insists that the city's internal service fund prepare and submit a budget for commission approval. The commissioner argues that it is only through the budget that the commissioners will be able yo ensure control over the internal service fund. Do you agree or disagree with the commissioner's argument
Answer:
Disagree
Explanation:
In simple words, I will differ with the statement, as I feel that the City Commission will be in a position to monitor the cash flow inside the service delivery resources by providing the expenditure.
There are various sources such as frequent auditing as well as various approvals that has to go through the high command, for using the funds generate.
Thus, the commissioners is arguing wrong perspective with the council.
The following information is available for Armstrong Company: Net income $450 Increase in plant and equip. $170 Depreciation expense 80 Payment of dividends 10 Decrease in accts. receiv. 20 Increase in long-term debt 100 Increase in inventories 15 Decrease in accounts payable 30 What is cash flow from operating activities for Armstrong Company?
Answer:
$505
Explanation:
Armstrong Company
Cash flow from operating activities
Adjustments to reconcile net income to operating cash flow.
Net income
$450
Less : Increase in plant and equipment
($170)
Add : Depreciation expenses
$80
Add : Payment of dividends
$10
Add : Decrease in accounts receivable
$20
Add : Increase in long term debt
$100
Less : Increase in Inventories
($15)
Add : Decrease in Account payable $30
Net Cash flow from operating activities
$505
Seneca owns an interior painting service. Seneca promises Fran, a homeowner, that Seneca will paint the outside of Fran’s house. Seneca knows that all of the painter-employees are busy for the next two months and really does not intend to paint Fran’s house. In this case, Seneca’s tortious behavior is known as:
Answer:
Promissory fraud.
Explanation:
In this scenario, Seneca owns an interior painting service. Seneca promises Fran, a homeowner, that Seneca will paint the outside of Fran’s house. Seneca knows that all of the painter-employees are busy for the next two months and really does not intend to paint Fran’s house. In this case, Seneca’s tortious behavior is known as promissory fraud.
Promissory fraud can be defined as a promise made by an individual or business entity (promisor), when in actual fact they have absolutely no intention to perform the actions or fulfil the promise when it was made the other party.
Hence, Seneca exhibited a promissory fraud because he is aware that all of the painter-employees are busy for the next two months and really does not intend to paint Fran’s house.
A perfectly competitive small organic farm that produces 1,000 cauliflower heads in the short run has an ATC = $6 and AFC = $2. The market price is $3 per head and is equal to MC. In order to maximize profits (or minimize losses), this farm should:
Answer:
the firm should shut down, at least temporarily until the marginal revenue increases or definitely if the marginal revenue doesn't increase
Explanation:
if average total costs = $6 and average fixed costs = $2, then average variable costs = $6 - $2 = $4
since the average variable costs are higher than marginal revenue: $4 > $3, then the company is losing money (-$1) every time it sells its products.
Even though most corporate bonds in the United States make coupon payments semiannually, bonds issued elsewhere often have annual coupon payments. Suppose a German company issues a bond with a par value of €1,000, 15 years to maturity, and a coupon rate of 7.3 percent paid annually.If the yield to maturity is 8.6 percent, what is the current price of the bond? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Current price �
Answer:
892.69
Explanation:
Given the following :
Par value of bond (FV) = 1000
Period (n) = 15 years
Coupon rate (r) = 7.3% annually
Yield to maturity (r) = 8.6% = 0.086
The coupon price = 7.3% of par value
Coupon price (C) = 0.073 * 1000 = 73
Current price of bond can be computed using the relation:
= C * [1 - 1 / (1 + r)^n] / r + (FV / (1 + r)^n)
73 * [1 - 1/(1+0.086)^15]/0.086 + 1000/(1 + 0.086)^15
73*(1 - 1/3.44704)/0.086 + (1000/(1.086)^15)
= 73*8.2546131 + 290.10326
= 602.5867563 + 290.10326
= 892.69
If the elasticity of demand for spring break packages to cancun is -5 , and if you notice that this year in cancun the quantity of packages demanded increased by 10% , then what happened to the price of cancun vacation packages ?
Answer: Price reduced by 2%
Explanation:
The price elasticity of demand shows how the demand for a good will change as a result of a change in price. Demand will usually increase as a result of a decrease in price because people tend to demand more when goods are cheaper.
The formula is;
Price elasticity of demand = ΔQuantity demanded / Δ Price
-5 = 10% / P
-5P = 10%
ΔP = -2%
The buyer of a futures contract is said to have a __________ position, and the seller of a futures contract is said to have a __________ position in futures. Group of answer choices margined; long short; long short; short long; short long; long
Answer: long; short
Explanation:
The buyer of a futures contract is said to have a long position, and the seller of a futures contract is said to have a short position in futures.
The buyer of a futures contract is said to have a long position as the individual wants to buy the commodity at its delivery date while the seller will deliver when it matures.
You are going to receive $80 at the end of each year for the next 12 years. If you invest each of those amounts at 12%, then what amount of money will you have at the end of the 12th year
Answer:
FV= $1,930.65
Explanation:
Giving the following information:
Cash flow= $80 a year
Number of periods= 12 years
Interest rate= 12% compounded annually
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {80[(1.12^12) - 1]} / 0.12
FV= $1,930.65
To stay in "fashion" many people buy a new car even though their old car is still in excellent-to-good condition. Similarly, people tend to buy new clothes before they wear out the clothes they already have. Such actions speak to
Answer:
NO
Explanation:
You receive a technical support call from a department manager. She reports that the laser printer in her department prints only blank pages. A telephone interview reveals that the paper is not jamming in the printer and that the problem began occurring after the toner cartridge was replaced. What is the most likely cause of the problem
Answer:
Option B, the sealing tape was not removed from the toner cartridge, is the right answer.
Explanation:
Option B, is the correct answer because in the given case the problem of blank paper arises only after installing the toner cartridge. However, there may other reasons that cause the same problem as defective laser or corona wire. But, in the given case, there is some relation between the effect and the installation of the toner cartridge. Therefore, not removing the tape form toner before its installation is the correct answer.
Causal research describes the marketing phenomena under study. B. Causal research is informal and unstructured. C. Causal research isolates the relationship between an independent variable and a dependent variable. D. Causal research answers the questions of who, what, when, where and how. E. Causal research is the seventh step in the marketing research process.
Answer:
Option B (Causal research is informal and unstructured) is the correct choice.
Explanation:
As when the process has gained, causal research has been undertaken to diagnose the source surrounding a person's action. It wants to find this same relationship among variables as to conjecture. It attempts to evaluate whether the explanatory variables shift throughout the exponential function, with variants.It could also be used in such a corporate setting to measure the impact that a transition to some of its present activities would have to aid in the corporate planning phase for its potential production rates.Some other three choices have no relation to the given incident. Such that the stated option is B.
The receipt of dividends and interest from abroad as a result of ownership of foreign assets by a country's residents is recorded as what:____________.
Answer:
income-generating assets under the current account of the balance of payment.
Explanation:
In international trade to balance of payments between countries looks at inflow and outflow of funds as a result of trade.
When there is balance of trade deficit the country imports from others. When there is balance of payment surplus the country exports to others.
The fund movement is recorded in various accounts. These are current account, capital account, and financial account.
The current account is used to record funds recieved from goods, services, income, and current transfers.
The receipt of dividends and interest from abroad as a result of ownership of foreign assets by a country's residents is recorded as
income-generating assets under the current account of the balance of payment.
John and Jane are a married couple. John is a medical doctor, while Jane is a business executive. They maintain their finances separately - John has his options account at BD "A." while Jane has her options account at BD "B." John and Jane were talking over dinner about the latest news coming from XYZZ Corp. and they decide that the stock will likely move up rapidly. The next day, John places an order with his broker to buy 140,000 XYZZ calls and Jane calls her broker and places an order to buy 160,000 XYZZ calls. The position limit for XYZZ is 250,000 contracts on each side of the market. Which statement is TRUE
Answer:
The remaining part of the question is:
Which Statement is True:
A. This is not a violation of position limits because the positions were taken in accounts at different broker-dealers
B. This is not a violation of position limits because each individual acted independently when placing his or her order
C. This is not a violation of position limits because of the marriage exemption from position limit violations
D. This is a violation of position limits
Correct Answer:
D. This is a violation of position limits
Explanation:
Since Jane and John are couple, it would be treated as a single entity despite the fact that, they operate different account in different banks. The position limit for XYZZ is 250,000 contracts whether as an individual or as a couple placed independently or jointly.
To market Suave shampoo, Unilever used PRIZM to identify neighborhoods with high concentrations of young working women. These women responded best to advertisements conveying the message that Suave is inexpensive, yet will make their hair "look like they spend a fortune on it." What segmentation tool did Unilever use in this example
Answer: Geodemography
Explanation:
Geodemography is used in market and it occurs when the marketplace of the consumers are divided into segments
thar will be reachable and locatable to the consumers who live around that particular neighborhood.
Based on the analysis explained in the question above, this is the segmentation tool that was utilized by Unilever.
ABC is a Medicare Advantage (MA) plan sponsor. It would like to use its enrollees’ information to market non-health related products such as life insurance and annuities. To do so it must obtain authorization from the enrollees. Which statement best describes the authorization process?
Answer is given below
Explanation:
The Medical insurance company provided all consent knowledge to the patient or beneficiary. It should be well defined so that it can dispel all the doubts of the beneficiary. Must have a valid registration page. The beneficiary should give all the information related to the company. and the registration page should ask for all the information needed for a future claim. There should be a proper definition of coverage of illnesses and risks so that the beneficiary has no doubt.Answer:
Authorization may be obtained by directing a beneficiary to a website to provide consent as long as the website includes a mechanism for an electronic signature that is valid under applicable law
Explanation:
Compute the MIRR statistic for Project I and note whether to accept or reject the project with the cash flows shown as follows if the appropriate cost of capital is 15 percent. Project I
Answer:
13%
Explanation:
The computation of MIRR is shown below:-
=MIRR({-1000;400;300;200;300;50},15%,15%)
= 12.666%
or
= 13%
Since the MIRR is 12.67% and the appropriate cost of capital is 15% so the project should be rejected as it is less than the cost of capital
For more clarification please find the spreadsheet so that we make more understand.
When it is time for Margaret to provide performance appraisals, she organizes her subordinates in a list from best employee to worst employee. Which method does Margaret most likely use
Answer:
Ranking method
Explanation:
Ranking method for performance appraisal is the oldest, and it involves the use of rankings in evaluating the performance of employees. Employees are usually organized depending on their worth; they are ranked in different categories from the highest performance to the lowest performance or from the best employee to the worst employee. This type of method compares between employees.
