Answers
Answer:
Different factors account to it.
Explanation:
Because many factors that contribute to people's happiness are not bought and sold, GDP is a limited tool for measuring standard of living. To understand it's limitations better, let's take a look at several factors that are not accounted for in GDP.
GDP does not account for leisure time. The US GDP per capita is larger than the GDP per capita of Germany, but does this prove that the standard of living in the United States is higher? Not necessarily since it is also true that the average US worker works several hundred hours more per year more than the average German worker. The calculation of GDP does not take German workers extra weeks of vacation into account.
GDP includes what is spent on environmental protection, healthcare, and education, but it does not include actual levels of environmental cleanliness, health, and learning. GDP includes the cost of buying pollution-control equipment, but it does not address whether the air and water are actually cleaner or dirtier. GDP includes spending on medical care, but it does not address whether life expectancy or infant mortality have risen or fallen. Similarly, GDP counts spending on education, but it does not address directly how much of the population can read, write, or do basic mathematics.
Related Questions
How do answer this question?
Answers
To calculate the Percent change the formula applied as
A. Percent Change = ((New Value - Old Value)/Old Value) x 100
Year 2: ((66-60)/60) x 100 = 10.00%
Year 3: ((72-66)/66) x 100 = 9.09%
Year 4: ((81-72)/72) x 100 = 12.50%
Year 5: ((94-81)/81) x 100 = 16.05%
Year 6: ((160-94)/94) x 100 = 70.21%
Year 7: ((270-160)/160) x 100 = 68.75%
Year 8: ((450-270)/270) x 100 = 66.67%
B. Calculation of percent change for the entire period
Percent Change = ((Final Value - Initial Value)/Initial Value) x 100
((450-60)/60) x 100 = 650.00%
C. Based on the information presented, it is difficult to say whether this is a bubble or not. While there are significant percentage gains during the eight-year period, meanwhile fluctuation is also observed in percent change.
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Which factor would influence the premiums of health insurance?
A.) Building Size
B.) Deductible
C.) Elimination Period
D.) Profession
Answers
Answer:
B.) Deductible
Explanation:
A deductible is an amount that the insured must pay himself/herself before the insurance company starts paying his/her medical expenses. E.g. if your deductible is $1,000, before your medical expenses are paid by your insurance company, you will have to pay the $1,000 yourself.
The higher the deductible, the lower the insurance premium. This applies to every single type of insurance policy where deductibles might apply.
Answer:
deductible
Explanation:
What is your diagnosis of the situation at FAVI?
Answers
Answer:
Explanation:
FAvI is a small automotive parts manufacturer in Hallencourt, France. In addition to other products, it is the European leader in the production of key components for gearboxes (manual transmissions) in such cars as Renault, Peugeot, Citroen, Fiat, Opel, Audi, volvo, and volkswagen. Employing about 400 people, this société anonyme
Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
Answers
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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Kia's company pays its employees on Fridays . This accounting period ended on a Wednesday, so the employees will not be paid for the week for another two days. Kia needs to record an adjusting entry to record and why?
Answers
Kia's company pays its employees on Fridays. This is required because the firm must appropriately report its obligations on its financial accounts and the payment of salary is one of those liabilities.
What is adjusting entry?Generally, An adjusting entry is a journal entry made at the end of an accounting period to correct or update the financial statements for items that have not been recorded or have been recorded incorrectly.
In this case, it sounds like Kia needs to record an adjusting entry to account for the fact that the employees will not be paid until two days after the end of the accounting period.
This is necessary because the payment of salaries is a liability of the company and the company needs to accurately reflect its liabilities on its financial statements.
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After choosing a shape to create, what instructions should you follow next?
left mouse click, hold down, and drag
double-click at the end of the document
right mouse click and select the area to fill
triple-click at the beginning of the document
Answers
After choosing a shape to create, The instructions that you should follow next is: A. left mouse click, hold down, and drag.
How to create a shape?Your can create a shape of your choice using photoshop in which you have to follow the necessary step to successful create the shape you intend to create.
After choosing the shape you want to create the next step of action is for you to left click on you mouse and the hold it down and drag, this process will enable you to create the shape successful.
Therefore the correct option is A.
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NPV and maximum return A firm can purchase new equipment for a $ 17,000 initial investment. The equipment generates an annual after-tax cash inflow of $ 4,000 for 7 years. a. Determine the net present value (NPV) of the asset, assuming that the firm has a cost of capital of 13%. Is the project acceptable? b. Determine the maximum required rate of return that the firm can have and still accept the asset. a. The net present value (NPV) of the new equipment is $ 690.44. (Round to the nearest cent.) Part 2 Based on its NPV, is the new equipment acceptable? (Select the best answer below.) Yes Your answer is correct. No Part 3 b. The maximum required rate of return the firm can have and still accept the new equipment is enter your response here%. (Round to two decimal places.)
Answers
The net present value (NPV) of the new equipment is $ 690.44. .
Based on the NPV, the project is acceptable.
The maximum required rate of return the firm can have is 14.29%.
What is the NPV?Net present value is the present value of after-tax cash flows from an investment less the amount invested. Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable
Net present value = -17,000 + 4000 / 1.13 + 4000 / 1.13² + 4000 / 1.13³ + 4000 / 1.13^4 + 4000 / 1.13^5 + 4000 / 1.13^6 + 4000 / 1.13^7 = $690.44
The maximum required rate of return is the internal rate of return. Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
IRR = 14.29%
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A(n) _____ layout arranges work flow around the production process. All workers performing similar tasks are grouped together.
Answers
Answer:
Process
Explanation:
Problem 8, MacroSoft Inc. has capitalized $600,000 of software costs. Sales from this product were $360,000 in the first year. MacroSoft estimates additional revenues of $840,000 over the product’s economic life of 5 years.
Instructions
Prepare the journal entry to record software cost amortization for the first year. Show all computations.
Answers
Journal Entry:
Date: [First year-end date]
The amortization expense for the first year is $120,000.
Debit: Amortization Expense - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Credit: Accumulated Amortization - Software Cost - Year 1 ($600,000 / 5 years) = $120,000Explanation:To record the software cost amortization for the first year, we need to allocate a portion of the capitalized software costs as an expense. Since the software has an estimated economic life of 5 years, we divide the total software cost ($600,000) by 5 to determine the annual amortization expense. In this case, the amortization expense for the first year is $120,000. We debit the Amortization Expense - Software Cost account to recognize the expense and credit the Accumulated Amortization - Software Cost account to accumulate the amortization over time.For more such questions on Journal Entry
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When evaluating your professional interests, what question should you ask yourself?
How important are working environments, colleagues, and job stimulation to me?
How well do I know the required software packages?
Should I apply online or in person?
Answers
When evaluating ones proffessional interest the question to ask should related to profession growth. the answer is B. How well do I know the required software packages?
What is Professional Interests?A professional interest is a statement that clearly descibes what skills and tools are needed to foster career growth.
In summary, it also include a statement of one ones future objectives.
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Assignment:
Your audience is me, the Teacher. I am requesting that you plan, organize, and design a short business presentation that should include visuals/graphics.
You choose the business topic.
* Demonstrates planning and organizing. (Plan a business presentation that accomplishes the speaker’s goals and meets the audience’s needs, & organize and develop the three parts of an effective presentation)
* Designs a business presentation including at least 3 visuals/graphics.
* Illustrates effective use of color schemes and appealing fonts.
* Identifies use of presentation software and follows assignment directions.
Answers
A a presentation on "Effective Time Management in the Workplace":
I. IntroductionGreet the audience and introduce yourself
State the purpose of the presentation
Preview the three main points
II. Body
A. The Importance of Effective Time Management
Discuss the benefits of effective time management in the workplace
Provide statistics and examples to support your points
Use visuals/graphics to illustrate the benefits
B. Techniques for Effective Time Management
Explain various techniques for effective time management such as prioritizing tasks, scheduling, and delegation
Use visuals/graphics to illustrate each technique
C. Overcoming Time Management Challenges
Discuss common challenges in time management and how to overcome them
Provide tips for managing interruptions, procrastination, and multitasking
Use visuals/graphics to illustrate the challenges and solutions
III. Conclusion
Summarize the main points
Restate the purpose of the presentation
Encourage questions and feedback from the audience
For the visuals/graphics, you can use charts, diagrams, infographics, or images to illustrate the key points in the presentation. Use a color scheme that is professional and appealing, and choose fonts that are easy to read and appropriate for the content.
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While taking courses at a community college, Patrice also spends time each week assisting at her town's community center. Patrice aides the community center leaders and learns about how the center works. Although she is not paid for this time, she hopes to begin a full-time job at the community center after finishing her courses. Patrice's time at the community center is called
O secondary education.
O doctoral research.
O a certification
O an internship
Answers
Answer:
While taking courses at a community college, Patrice also spends time each week assisting at her town’s community center. Patrice aides the community center leaders and learns about how the center works. Although she is not paid for this time, she hopes to begin a full-time job at the community center after finishing her courses. Patrice’s time at the community center is called
Explanation:
D. an internship
People often undergo internship. Patrice's time at the community center is called an internship.
What does an internship implies?An internship is known to be a kind of professional learning experience that people undergo that tends to offers vital, practical work linked to a student's field of study or career interest.
An internship is one that helps student to have an opportunity for career exploration and growth, and to learn a whole lot of skills.
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All of the following statements regarding “barter” are true EXCEPT:
It is efficient in terms of resources used.
Its widespread use is limited.
It is an exchange system where goods trade for goods.
Since it requires you to find someone willing to trade, it can be time consuming
Answers
Answer:
1
Explanation:
"It is efficient in terms of resources used."
It is false.
The most important reason for today’s managers to study the history of management is so they can
A) avoid the mistakes of the past
B) reject all practices of earlier eras
C) develop their own theories
D) earn more money
Answers
The major reason why managers need to study the history of management is to A) avoid the mistakes of the past.
Importance of management history. Shows the types of management in the past. Shows their various successes and failures.From the successes and failures, a person is able to see the mistake that were made when using past management styles. This then allows them to avoid those same mistakes in the present.
In conclusion, option A is correct.
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If Chelsea decides to wait two years
before making the down payment,
instead of one, how much money
will she have after two years?
Answers
Plot the data in the table on the graph below. Remember, price is on the vertical axis and quantity is on the horizontal axis. PLEASE HELP
Answers
Explanation:
Plot the data in the table on the graph below. Remember, price is on the vertical axis and quantity is on the horizontal axis.
Quantity is on the horizontal axis so the data in the price column are X values
Price is on the vertical axis so the data in the price column are Y values
Quantity is in thousands so your points are:
(1000 , 10)
(2500 , 9)
(4000 , 8)
(5500 , 7)
(7000 , 6)
(8500 , 5)
(10000 , 4)
(11500 , 3)
(13000 , 2)
(14600 , 1)
(16000 , 0)
[NOTE: a photo of the graph grid has not been provided in the photo so scaling may not be exact]
Please upload a photo of the grid you are given for a graph to size.
Blue Spruce Corp. reported net income of $194,740 for 2022. Blue Spruce Corp. also reported depreciation expense of $36,900 and a loss of $5,030 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,650 for the year, a $15,880 increase in accounts payable, and a $4,250 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blue Spruce Corp. Partial Statement of Cash Flows Choose the accounting period Select an opening section name Select an item $Enter a dollar amount Adjustments to reconcile net income to Select an opening name for subsection Select an item $Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Enter a total amount for this subsection Select a closing section name $Enter a total amount for this section
Answers
Answer:
Blue Spruce Corp
Statement of Cash Flows for the year ended December 31, 2022
Operating activities section:
Net income $194,740
add non-cash flow items:
Depreciation expense 36,900
Loss on disposal of plant assets 54,030
Adjusted operating income $285,670
Working capital changes:
Increase in accounts receivable (15,650)
Increase in accounts payable 15,880
Increase in prepaid expenses (4,250)
Net cash from operating activities $281,650
Explanation:
a) Data and Calculations:
Reported 2022 net income = $194,740
Depreciation expense = $36,900
Loss on disposal of plant assets = $54,030
Increase in accounts receivable = $15,650
Increase in accounts payable $15,880
Increase in prepaid expenses $4,250
b) The operating activities section is one section of the Statement of Cash Flows. It shows the cash inflows and outflows from Spruce's normal business activities. Other sections of Spruce's Statement of Cash Flows that show activities outside operating activities are the investment activities section and financing activities.
Which economic development of the late 19th century most directly made possible the degree of opulence displayed in the above photo?
answer choices
The advent of corporations
Development of the trust and growth of monopolies
Technological advances in steel making
Changes in property tax laws
Answers
The correct answer is option b. Development of the trust and growth of monopolies is economic development of the late 19th century most directly made possible the degree of opulence.
Trust is an anchor of a efficient economic system. It helps in facilitating the transactions between individuals, firms, and governments, it also boosts investment and innovation, it further permits effective policymaking and finally leads to higher growth.
Monopoly is referred as a market structure where there is only one seller in the market, only a single seller assumes a dominant position in the sector. It restricts competition. Monopolies usually are discouraged in free-market economies as they reduces competition and also limit the substitutes for consumers in the market.
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Complete question
Which economic development of the late 19th century most directly made possible the degree of opulence?
answer choices
a. The advent of corporations
b. Development of the trust and growth of monopolies
c. Technological advances in steel making
d. Changes in property tax laws
6. Comparative advantage is when A. B. C. D.
A. one person can produce more of a good than another person.
B. one person can produce a good at a lower opportunity cost than another person.
C. Two parties can complete a task equally well.
D. one person can produce a good at a higher opportunity cost than another person.
Answers
B. one person can produce a good at a lower opportunity cost than another person.
Comparative advantage is a concept in economics that refers to the ability of a person, firm, or country to produce a good or service at a lower opportunity cost than another. Opportunity cost is the cost of forgoing an alternative opportunity in order to pursue a particular action. Hence, the correct option will be B: one person can produce a good at a lower opportunity cost than another person.
For example, let's say Person A can produce 10 units of product X or 5 units of product Y in one hour, while Person B can produce 8 units of product X or 4 units of product Y in one hour. Person A has an absolute advantage in producing both X and Y, as they can produce more of each product than Person B. However, Person B has a comparative advantage in producing product Y, as they can produce it at a lower opportunity cost than Person A, since they have to give up less of their production of product X to produce product Y.
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what is the acronym for the rainbow
Answers
Answer:
roygbiv
Explanation:
roygbiv
Answer:
the rainbow symbolizes God’s glory the radiance of his beauty, holiness, and perfection Like the appearance of the bow that is in the cloud on the day of rain, so was the appearance of the brightness all around. Such was the appearance of the likeness of the glory of the Lord.
Sandra goes into her favorite shoe store where they are holding a special sales promotion. The salesperson explains to Sandra that if she purchases one pair of shoes, she would receive a free pair of socks. Which type of sales promotion is this?
A). Special financing
B). Bonus
C). Premium
D). Discount
Answers
You have invested $6,000 in plant improvements and financed $6,000 long-term debt to pay for it. You have also elected to retire $6,000 of long-term debt. Now, your closing cash position reads -$3,000. How can you fix the current financial decisions so that you have a healthy cash position at the end of the year?
Answers
Answer:
Retire Long Term debt at $0Issue Long Term Debt at $6,000Explanation:
If you elect to both retire the $6,000 in long term debt and also issue long term debt of the same amount, your cash balance would be -$3,000 which is unhealthy.
What you should do therefore, is to retire no long term debt while still issuing the long term debt of $6,000 to pay for the investment in plant improvement. This will leave you with a cash balance of $3,000 which is healthy enough.
The authors of our text described three different types of charts: decision trees, sequence-of-steps, and statistical.
Answers
Decision trees: Decision trees are diagrams that represent a decision or a series of decisions and their possible consequences. They are often used in business and management to help make decisions or to illustrate decision-making processes. Decision trees typically have a tree-like structure, with branches representing different possible decisions or outcomes, and nodes representing decision points or chance events.
What are decision trees?Generally, Decision trees, sequence-of-steps, and statistical charts are different types of charts used for visualizing data in different ways.
Sequence-of-steps: Sequence-of-steps charts, also known as flowcharts or process maps, are diagrams that show the steps in a process or workflow. They are commonly used in project management, software development, and other fields where complex processes need to be broken down into individual steps. Sequence-of-steps charts use symbols and arrows to illustrate the flow of the process, with each step or decision point represented by a separate symbol.
Statistical charts: Statistical charts are used to visualize and communicate data that can be expressed numerically. They include bar charts, line graphs, scatter plots, and other types of charts that display data in different ways. Statistical charts are commonly used in scientific research, business, and other fields where data analysis and interpretation are important.
Overall, the choice of chart type depends on the type of data being visualized and the purpose of the chart. Each type of chart has its own strengths and weaknesses, and selecting the appropriate chart can help to effectively communicate data and insights.
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If no page number or paragraph number is available when directly quoting from an electronic source, then the heading or section name along with the number of the paragraph within that section should be included.
a. True
b. False
Answers
Answer:
a. True
Explanation:
Plagiarism can be defined as the act of representing or using an author's work, ideas, thoughts, language, or expressions without their consent, acknowledgement or authorization.
This ultimately implies that, plagiarism is an illegal act of presenting another author's intellectual work or copyrighted items by using their ideas, thoughts, language or expressions, word for word without authorization or permission from the original author.
The four (4) common types of plagiarism are;
1. Copy and paste: this typically involves copying another author's work word for word and pasting it as yours without proper citation or reference with quotation marks.
2. Improper citation : this involves an author failing to provide an in-text reference or citation of the original author appropriately.
3. Find and replace: this typically involves an author finding some words to change (replace) in the original literary work.
4. Fabrication: this occur when an author makes up unverified or false data to use in his or her literary work.
Attribution can be defined as a process which typically involves the citation (reference) of an original source of information such as a quote, paraphrase or summary, using the author's full name and job title or position as the case may be.
Furthermore, if there is no page number or paragraph number when directly quoting from an electronic source, then one is permitted to use the heading or section name along with the number of the paragraph within that section.
Which of the following most resembles a case of taste-based discrimination (prejudice)?
A. Rodrigo will only hire bilingual people because a majority of his customers speak either English or Spanish.
B. Katelyn prefers not to hire women under the age of 35 because she is afraid they will eventually want to take maternity leave.
C. Austin has a deep-seated hatred of bald-headed men and refuses to hire any to work at his car wash.
D. Tatiana only hires men to move heavy kegs at her bar.
Answers
C. Austin has a deep-seated hatred of bald-headed men and refuses to hire any to work at his car wash.
Explanation:
Taste-based discrimination is essentially prejudice
baldness & car washing have nothing to do with each other so it must be prejudice
openaccessgovernmentorg
quizlet
Suppose that $2000 is invested at a rate of 4%, compounded semiannually. Assuming that no withdrawals are made, find the total amount after 7 years.
Do not round any intermediate computations, and round your answer to the nearest cent.
Answers
Assume that $2,000 is saved at a 4% yearly compounding rate. Find the total after $2437.99 assuming no withdrawals are made.
What's an illustration of assuming?I was startled when he did not arrive because I had believed he would. She inferred that he was perplexed based on his demeanor. We'll show around around noon. Providing our flight leaves on schedule, that is
What is the use of assuming?In order to think out the implications of a potential occurrence or event, you employ assumption. If you're right, there wasn't much I have to do about it, he said.
Briefing
A = P(1+r/n)^ nt
A = 2000(1+.04/2)^(5*2)
A = 2000(1.02) =$2437.99
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Question 2 of 20
Suppose that, as a project manager, one of your greatest strengths is
identifying who on your team can take on some of your own tasks, allowing
you to focus on other aspects of the project. Which of the following would
best describe you?
A. You are a strong collaborator
B. You are a good delegator
C. You are an excellent conflict resolver
D. You are an effective motivator
Answers
Answer:
B. You are a good delegator.
Explanation:
Delegation involves identifying the right people for the right tasks, and it allows the project manager to focus on other important aspects of the project. By being able to identify who on the team can take on certain tasks, the project manager is demonstrating good leadership skills and effective delegation. While collaboration, conflict resolution, and motivation are also important skills for a project manager to have, they are not directly related to the ability to delegate tasks to team members.
Evergreen Company sells lawn and garden products to wholesalers. The company’s fiscal year-end is December 31. During 2021, the following transactions related to receivables occurred:
Feb. 28 Sold merchandise to Lennox, Inc., for $10,000 and accepted a 10%, 7-month note. 10% is an appropriate rate for this type of note.
Mar. 31 Sold merchandise to Maddox Co. that had a fair value of $7,200, and accepted a noninterest-bearing note for which $8,000 payment is due on March 31, 2022.
Apr. 3 Sold merchandise to Carr Co. for $7,000 with terms 2/10, n/30. Evergreen uses the gross method to account for cash discounts.
11 Collected the entire amount due from Carr Co.
17 A customer returned merchandise costing $3,200. Evergreen reduced the customer’s receivable balance by $5,000, the sales price of the merchandise. Sales returns are recorded by the company as they occur.
30 Transferred receivables of $50,000 to a factor without recourse. The factor charged Evergreen a 1% finance charge on the receivables transferred. The sale criteria are met.
June 30 Discounted the Lennox, Inc., note at the bank. The bank’s discount rate is 12%. The note was discounted without recourse.
Sep. 30 Lennox, Inc., paid the note amount plus interest to the bank.
Required:
1. Prepare the necessary journal entries for Evergreen for each of the above dates. For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold.
2. Prepare any necessary adjusting entries at December 31, 2021. Adjusting entries are only recorded at year-end.
3. Prepare a schedule showing the effect of the journal entries on 2021 income before taxes
Answers
Answer:
Evergreen Company
1. Necessary Journal Entries for Evergreen involving the sale of merchandise:
Feb. 28 Debit Notes Receivable (Lennox Inc.) $10,000
Credit Sales Revenue $10,000
To record the sale of goods on credit, terms 10% 7-month note.
Mar. 31: Debit Notes Receivable (Maddox Co.) $8,000
Credit Sales Revenue $7,200
Credit Interest Receivable $800
To record the sale of goods on credit.
Apr. 3 Debit Accounts Receivable (Carr Co.) $7,000
Credit Sales Revenue $7,000
To record the sale of goods with terms 2/10, n/30.
Apri. 11 Debit Cash Account $6,860
Cash Discount Allowed $140
Credit Accounts Receivable (Carr Co.) $7,000
To record the collection on account.
Apr. 17 Debit Sales Returns $5,000
Credit Accounts Receivable $5,000
To record the return of goods on account.
Apr. 30 Debit Cash Account $49,500
Debit Finance Charges $500
Credit Accounts Receivable $50,000
To record the transfer of receivables to a factor without recourse and 1% finance charge.
June 30 Debit Cash Account $8,800
Debit Finance Charges $1,200
Credit Notes Receivable $10,000
To record the discounting of the note at the bank at 12%.
2. Necessary Adjusting Journal Entries at December 31, 2021:
3. A Schedule showing the effect of the journal entries on 2021 income before taxes:
Sales revenue $10,000
Sales Revenue 7,200
Sales Revenue 7,000
Discount Allowed (140)
Interest Receivable 800
Sales Returns (5,000)
Finance charges (500)
Finance charges (1,200)
Explanation:
Finance charge of $500 = ($50,000 * 1%). Factoring accounts receivable enables Evergreen to collect on its accounts receivable before the due date. This usually attracts some finance charges. Sales without recourse means that the factoring company and not Evergreen accepts the risk associated with credit default. Sales with recourse implies that Evergreen retains the risk arising from credit default.
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When Ahmed's company files for bankruptcy, he requests the court to give him another chance to repay debt. He tells the court that he works
for a company from which he receives monthly salary. He thinks he can repay his debts with the salary he receives. Under what legal provision
can the government grant Ahmed the option of repaying his debt?
O A Chapter 15
OB. Chapter 10
OC Chapter 11
OD. Chapter 13
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Answers
“Automation is bad for the economy because machines will eventually replace almost all human workers, creating high unemployment and poverty.” Do you agree or disagree? Explain your answer.
Answers
I agree that "automation is bad for the economy because machines will eventually replace almost all human workers, creating high unemployment and poverty". This is because with automation, most jobs will be done by machines and robots. This will leave a large percent of human workers jobless.
What is Automation?Automation may result in job losses and wage reductions. Be aware that those who can operate machines are thought to be more productive than those who cannot.
Keep in mind that automation tends to reduce both the costs and prices of goods and services, making consumers feel richer while also causing certain human skills to be lost.
Accordingly, the following abilities will be lost as automation is implemented:
A. Communication Skills.
B. Social Skills.
C. Critical Thinking
D. the application of imagination and reflection.
Learn more about automation here: https://brainly.com/question/28530316
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