Answer:
Closed-End Fund
Explanation:
Close-End Funds raise money through an IPO and then its stocks are traded on secondary markets. There are no new issuance of stocks, nor there are repurchases of stocks, therefore, the price of their stocks is determined by the market. That is why their stock price will be based on its net asset value, but it fluctuates and is not dependent on it.
PLEASE HURRY I NEED THIS NOW
Some HR workers investigate possible company violations. Why is it important for these workers to reserve judgment and be impartial? Explain in your own words. Then, imagine a situation in which someone may NOT reserve judgment and/or may NOT be impartial. Describe that situation.
Answer: hope you fail lol
Explanation:
Being impartial entails being unbiased toward any individual or point of view, being open-minded, and treating everyone equally.
Explain about the importance impartial judgement in business?Employee opinions of a company's ethics can have positive effects and provide better financial outcomes.
Employee performance, work happiness, organizational commitment, trust, and behaviors associated with organizational citizenship can all be improved by perceived ethical behavior.Successful and ethical treatment depends on maintaining professional boundaries and neutrality. Professional social workers are mindful of their own needs and take precautions to avoid bringing unresolved personality issues into therapeutic partnership.Making moral decisions is consistent with good citizenship and helps to build and sustain trust.They also show respect, accountability, justice, and care. By establishing underlying ground rules for human behavior, these behaviors serve as a foundation for better decision-making.Know more about the impartial judgement in business
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Demonstrating the proper way to shake hands is an example of which choice?
a. teamwork
b. workplace etiquette
c. employee performance
d. work ethics
Answer:
A. Teamwork
Explanation:
when you do something right as a team you handshake as a thank you for helping me.
Answer:
employee performance
Explanation:
took the test
The difference between a firms current assets and current liabilities is known as the
Answer:
Working capital
Explanation:
Working capital, also called net working capital, represents the difference between a company's current assets and current liabilities.
The difference between a firm's current assets and current liabilities is known as its "working capital." Working capital is a measure of a company's short-term financial health and represents the funds that are available to finance the day-to-day operations of the business.
Current assets include cash, accounts receivable, inventory, and other assets that are expected to be converted into cash within one year or within the normal operating cycle of the business, whichever is longer. Current liabilities, on the other hand, include accounts payable, short-term loans, and other obligations that are due within one year or within the normal operating cycle of the business. Therefore, working capital is calculated by subtracting current liabilities from current assets: Working Capital = Current Assets - Current Liabilities
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Choose the response that correctly completes the following sentence describing the tax treatment and reporting requirements for municipal bond interest
Interest income from this type of investment is:
A. federally taxable and must be reported on form 1040
B. nontaxable and does not have to be reported
C. not federally taxable but must be reported on form 1040
D. not federally taxable and only reportable on form 1040 when the amount received exceeds $1,500
Interest income from this type of investment is: Option C. not federally taxable but must be reported on form 1040.
What is municipal bond interest?These can be viewed as loans that investors give to local governments and are used to pay for infrastructure projects like parks, libraries, bridges, and highways. Municipal bonds are an appealing investment choice for people in high tax brackets because interest on them is frequently tax free.
Municipal bonds are financial securities that are issued by local or state governments to raise money for certain public projects or to simply fund continuing operations. In exchange for making a financial debt to that government, the investor will receive interest payments until the bond matures.
Therefore, Municipal bonds provide stability for your capital with low default rates, even though they may have lower interest rates than riskier investments like corporate bonds or stocks.
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2. In 2020, Leon Longrove sold a piece of business equipment that had an adjusted basis to him of $50,000 for $75,000 cash plus artwork that had a fair market value of $25,000. The buyer assumed Leon's $20,000 loan on the equipment. Leon paid $5,000 in selling expenses. What is the amount of Leon's gain on the sale
Answer:
Leon's gain = $65,000
Explanation:
Total consideration received by Leon = $75,000 (cash) + $25,000 (artwork) + $20,000 (loan assumed by buyer) = $120,000
Leon's total costs = $50,000 (equipment's basis) + $5,000 (selling expenses) = $55,000
Leon's gain = total consideration received - total costs = $120,000 - $55,000 = $65,000
Why do you think it is important to consider both salary and benefits when applying for a job?
Answer: It is important because an employee needs to have other rights beyond a salary.
Explanation: Although it is true that a person who applies for a job in return receives a salary, many times the work to do for the development and well-being of the company is greater than what he receives. Many people work tirelessly so that the place where they are working can continue to function properly. In many cases, the salary you receive is a salary that may be little and that does not compensate for many things. The benefits give the employee the opportunity to enjoy certain things and thus lighten the burden of him since not everything has to come from salary.
2. Why are some loans labeled predatory loans? Explain.
Answer: Predatory lending occurs when a mortgage broker or lender persuades a borrower to enter into a mortgage loan that has unreasonably high interest rates and fees and does not serve the borrower's best interest. These loans often lock borrowers into unfair loan terms and cause severe financial hardship or default.
Explanation:
Outline and describe the different forms of Communication and further explain how they are important in an organization. Provide practical example to support your discussion.
La comunicación desempeña un papel fundamental en el funcionamiento de una organización, ya que permite la transmisión de información, ideas, instrucciones y retroalimentación entre los miembros del equipo. Existen varias formas de comunicación que se utilizan en un entorno organizacional. A continuación, describiré algunas de las formas más comunes:
Comunicación verbal: Es el uso de palabras habladas para transmitir información. Puede ser en forma de reuniones, conversaciones cara a cara, llamadas telefónicas o videoconferencias. La comunicación verbal es rápida y permite una interacción directa entre las personas, lo que facilita la clarificación de dudas y la resolución de problemas en tiempo real. Por ejemplo, durante una reunión de equipo, los miembros pueden discutir ideas, compartir actualizaciones y tomar decisiones conjuntas.
Comunicación escrita: Implica el uso de palabras escritas para transmitir información. Esto incluye correos electrónicos, mensajes de texto, informes, memorandos y documentos formales. La comunicación escrita es útil cuando se requiere un registro permanente de la información y proporciona la oportunidad de revisar y editar antes de enviar el mensaje. Por ejemplo, un gerente puede enviar un correo electrónico detallando las metas y objetivos del proyecto a su equipo para asegurarse de que todos estén al tanto de las expectativas.
Comunicación no verbal: Se refiere a la transmisión de información sin el uso de palabras. Incluye gestos, expresiones faciales, lenguaje corporal y tono de voz. A menudo, la comunicación no verbal puede transmitir emociones y actitudes que pueden complementar o contradecir el mensaje verbal. Por ejemplo, durante una presentación, el lenguaje corporal de un orador puede transmitir confianza y entusiasmo, lo que refuerza su mensaje.
Comunicación formal: Se lleva a cabo a través de canales oficiales y estructurados dentro de la organización. Esto incluye comunicaciones descendentes, como anuncios y políticas de la gerencia hacia los empleados, así como comunicaciones ascendentes, como informes de estado y retroalimentación de los empleados hacia los superiores. La comunicación formal es importante para establecer líneas claras de autoridad y responsabilidad, así como para garantizar la coherencia en la información transmitida.
Comunicación informal: Se produce a través de interacciones sociales no estructuradas entre los miembros de la organización. Esto puede incluir conversaciones informales en el lugar de trabajo, interacciones en las pausas para el café o discusiones en grupos de chat en línea. La comunicación informal es valiosa para fomentar la camaradería, construir relaciones y facilitar el intercambio de ideas no convencionales. Por ejemplo, en un entorno de trabajo abierto, los empleados pueden compartir ideas innovadoras durante una conversación informal en la sala de descanso.
La importancia de estas formas de comunicación en una organización radica en que permiten la colaboración efectiva, la toma de decisiones informada, la resolución de problemas, la coordinación de tareas y la creación de un ambiente de trabajo positivo. Una comunicación clara y efectiva evita malentendidos, reduce los errores, mejora la productividad y fortalece la cohesión del equipo.
Un ejemplo práctico podría ser una empresa de desarrollo de software. En este caso, la comunicación verbal sería esencial para que los miembros del equipo discutan los requisitos del proyecto, compartan actualizaciones diarias y resuelvan problemas en las reuniones diarias de puesta al día (stand-up meetings). La comunicación escrita sería crucial para documentar los requisitos, especificaciones técnicas y cronogramas del proyecto, así como para enviar correos electrónicos y mensajes de chat con actualizaciones y solicitudes de retroalimentación. La comunicación no verbal también tendría un papel importante, ya que el lenguaje corporal y las expresiones faciales en las reuniones ayudarían a transmitir confianza y apoyo entre los miembros del equipo. En cuanto a la comunicación formal, se utilizarían informes de estado y presentaciones formales para mantener a la alta dirección informada sobre el progreso del proyecto. Por último, la comunicación informal se daría en momentos de descanso, donde los empleados podrían discutir ideas, plantear desafíos y fomentar la creatividad en un ambiente más relajado
Answer:
There are several different forms of communication that are important in an organization. These include:
1. Verbal communication: This is the use of spoken words to convey a message. Verbal communication is important in an organization because it allows employees to communicate with each other and with customers. For example, a salesperson might use verbal communication to explain the features of a product to a customer. Another example is a team meeting where employees discuss project updates and share ideas.
2. Nonverbal communication: This is the use of body language, gestures, and facial expressions to convey a message. Nonverbal communication is important in an organization because it can convey emotions, attitudes, and intentions. For example, a manager might use nonverbal communication to show approval or disapproval of an employee's performance. Another example is a job interview where the interviewer might use nonverbal communication to assess the candidate's confidence and professionalism.
3. Written communication: This is the use of written words to convey a message. Written communication is important in an organization because it provides a permanent record of communication. For example, an email can be used to communicate project updates, deadlines, and other important information. Another example is a report that summarizes the results of a project.
4. Visual communication: This is the use of images, graphs, and other visual aids to convey a message. Visual communication is important in an organization because it can help to simplify complex information and make it easier to understand. For example, a chart can be used to show sales trends over time. Another example is a video that demonstrates how to use a product.
All of these forms of communication are important in an organization because they allow employees to share information, ideas, and feedback. Effective communication can also help to build trust and relationships between employees, customers, and partners. For example, if a customer has a positive experience with a salesperson, they are more likely to return to the organization in the future.
A practical example of the importance of communication in an organization is a team project. Effective communication is essential for the success of the project. Team members need to be able to communicate their ideas, concerns, and progress to each other in order to stay on track and meet deadlines. This might involve verbal communication in team meetings, written communication in project reports, and visual communication in presentations. Without effective communication, the project is likely to fail.
1. Which of the following people is/are legally required to file a tax return?
1. Amanda, who can be claimed as a dependent and earned $850 last year.
2. Greg, who can be claimed as a dependent and earned $12,650 last year.
3. Jason, who cannot be claimed as a dependent and earned $1,500 last year.
4. Erin, who cannot be claimed as a dependent and earned $14,000 last year.
These people are legally required to file tax return.
Greg, who can be claimed as a dependent and earned $12,650 last year.
Erin, who cannot be claimed as a dependent and earned $14,000 last year.
What is tax return?Tax return is a form that is filled by tax payer which contain income, expenses or tax information .
This enable the tax payer to calculate their tax liability, tac expenses or schedule.
Those that can required to file tax return are ;
A single person Under 65 of ageand income of $12,550 65 or older with income $14,250Married filing jointly Under 65 (both spouses) $25,10065 or older (one spouse) with income $26,45065 or older (both spouses) with income of $27,800Married filing separately Any age $5Head of household Under 65 with income of $18,80065 or older with income $20,500Qualifying widow(er) Under 65 with income of $25,100.65 or older.Therefore,
These people are legally required to file tax return.
Greg, who can be claimed as a dependent and earned $12,650 last year.Erin, who cannot be claimed as a dependent and earned $14,000 last year.For more details on tax return check the link below.
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How can you make positive economic choices?
Answer:
All choices require giving up something in your life whether that is friends or family, or things that you really want. Economic choices require you to think do you really want this and what is the benifit out of it, like what do you get out of making this decision. The economic things are what will be produced, how will it be produced, and how will the output society produces be distributed
Explanation:
Political forces that affect transportation businesses
It is important to note that politics and the economy have effects on the transportation industry, as the industry is ever changing with new policies, regulations, or capacity issues.
Politicians and the policies they create dictate the US economy, effecting all industries. It is seen that the transportation industry saw effects because of the trade and tariff wars. The overall regulations depend largely on the economic and political outlook of the party in power.
For instance, a government that is inclined to pursue neo-liberal policies, could pass more legislations favoring industries and big businesses, while a government inspired by socialism could push policies favoring small businesses.
Hence, the answer was given and explained above.
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Four of the ships sought a passage along a southern...……
1 coast
2 inland
3 border
4 body of land with water on three sides
5 non of the above
what is the answer
Bill Blank bought 900 shares of a mutual fund with a NAV of $13.80. This fund has a load charge of 2%. What did Bill pay for the investment?
1) Giving examples explain Eight (8) types of leadership styles(10mks)
2) Explain the do’s and don’ts of communication(5mks)
3) Explain the how managers can use motivation theories to motivate employees(10mks)
Answer:
1) Eight types of leadership styles are:
a) Autocratic Leadership: This style of leadership involves the leader making all the decisions and giving orders to subordinates without getting any input or feedback from them. This style is useful in situations where quick decisions need to be made, but it can lead to resentment and low morale among employees.
b) Democratic Leadership: This style of leadership involves the leader encouraging participation and input from subordinates in decision-making. This style can lead to higher job satisfaction and greater commitment among employees, but it can also lead to slower decision-making and lack of accountability.
c) Laissez-Faire Leadership: This style of leadership involves the leader delegating decision-making and responsibility to subordinates. This style can be useful in situations where employees are highly skilled and motivated, but it can also lead to lack of direction and accountability.
d) Transactional Leadership: This style of leadership involves the leader using rewards and punishments to motivate employees. This style can be effective in achieving short-term goals, but it can also lead to lack of creativity and innovation.
e) Transformational Leadership: This style of leadership involves the leader inspiring and motivating employees to achieve shared goals. This style can lead to high levels of job satisfaction and commitment, but it can also be difficult to implement and maintain.
f) Servant Leadership: This style of leadership involves the leader putting the needs of employees first and serving them. This style can lead to high levels of trust and loyalty among employees, but it can also be difficult to implement and maintain.
g) Charismatic Leadership: This style of leadership involves the leader using their personality and charisma to inspire and motivate employees. This style can be effective in achieving short-term goals, but it can also be risky if the leader becomes too focused on their own goals and needs.
h) Situational Leadership: This style of leadership involves the leader adapting their style to fit the situation and needs of the employees. This style can be effective in achieving a balance between task and relationship-oriented leadership, but it can also be difficult to implement and maintain.
2) The do's and don'ts of communication are:
Do's:
a) Be clear and concise in your communication.
b) Use active listening to understand the other person's perspective.
c) Use appropriate body language and tone of voice to convey your message.
d) Use examples and anecdotes to illustrate your points.
e) Provide feedback and ask for feedback to improve communication.
Don'ts:
a) Interrupt the other person while they are speaking.
b) Use offensive language or tone of voice.
c) Assume that the other person understands your perspective.
d) Make assumptions or judgments about the other person without getting their input.
e) Use distractions or multitasking while communicating.
3) Managers can use motivation theories to motivate employees by:
a) Understanding the needs and goals of the employees.
b) Providing rewards and recognition for good performance.
c) Creating a positive work environment that fosters creativity and innovation.
d) Offering opportunities for growth and development.
e) Encouraging teamwork and collaboration.
f) Providing regular feedback and communication.
g) Setting clear goals and expectations.
h) Providing training and support for employees to achieve their goals.
i) Creating a culture of trust and respect.
j) Encouraging autonomy and responsibility.
Answer:
Explanation:
1) Eight types of leadership styles are:
a) Autocratic Leadership: This style of leadership involves the leader making all the decisions and giving orders to subordinates without getting any input or feedback from them. This style is useful in situations where quick decisions need to be made, but it can lead to resentment and low morale among employees.
b) Democratic Leadership: This style of leadership involves the leader encouraging participation and input from subordinates in decision-making. This style can lead to higher job satisfaction and greater commitment among employees, but it can also lead to slower decision-making and lack of accountability.
c) Laissez-Faire Leadership: This style of leadership involves the leader delegating decision-making and responsibility to subordinates. This style can be useful in situations where employees are highly skilled and motivated, but it can also lead to lack of direction and accountability.
d) Transactional Leadership: This style of leadership involves the leader using rewards and punishments to motivate employees. This style can be effective in achieving short-term goals, but it can also lead to lack of creativity and innovation.
e) Transformational Leadership: This style of leadership involves the leader inspiring and motivating employees to achieve shared goals. This style can lead to high levels of job satisfaction and commitment, but it can also be difficult to implement and maintain.
f) Servant Leadership: This style of leadership involves the leader putting the needs of employees first and serving them. This style can lead to high levels of trust and loyalty among employees, but it can also be difficult to implement and maintain.
g) Charismatic Leadership: This style of leadership involves the leader using their personality and charisma to inspire and motivate employees. This style can be effective in achieving short-term goals, but it can also be risky if the leader becomes too focused on their own goals and needs.
h) Situational Leadership: This style of leadership involves the leader adapting their style to fit the situation and needs of the employees. This style can be effective in achieving a balance between task and relationship-oriented leadership, but it can also be difficult to implement and maintain.
2) The do's and don'ts of communication are:
Do's:
a) Be clear and concise in your communication.
b) Use active listening to understand the other person's perspective.
c) Use appropriate body language and tone of voice to convey your message.
d) Use examples and anecdotes to illustrate your points.
e) Provide feedback and ask for feedback to improve communication.
Don'ts:
a) Interrupt the other person while they are speaking.
b) Use offensive language or tone of voice.
c) Assume that the other person understands your perspective.
d) Make assumptions or judgments about the other person without getting their input.
e) Use distractions or multitasking while communicating.
3) Managers can use motivation theories to motivate employees by:
a) Understanding the needs and goals of the employees.
b) Providing rewards and recognition for good performance.
c) Creating a positive work environment that fosters creativity and innovation.
d) Offering opportunities for growth and development.
e) Encouraging teamwork and collaboration.
f) Providing regular feedback and communication.
g) Setting clear goals and expectations.
h) Providing training and support for employees to achieve their goals.
i) Creating a culture of trust and respect.
j) Encouraging autonomy and responsibility
draw up subject improvement plan to mitigate the challenges of teaching Ems.identified and clearly demonstrate how learner understanding of EMS topics will be improved
Teaching EMS is about using a well-defined way of acting out a specific lesson or teaching plan in order to achieve a desired goal with the class.
The subject improvement plan mitigate the challenges of teaching are through these steps-
The teacher’s personality and competence. Learners’ abilities. Subject content knowledge. Pedagogical content knowledge. The nature of the subject. Class size, classroom environment. The purpose of the lesson.EMS teacher do?Students want to become EMTs or paramedics are supervised and instructed by an EMS teacher. They say students in the classroom, in a skills lab, and in the field. The requirements for becoming an instructor vary by state and business, but frequently need previous EMT or paramedic experience.
EMS in Pennsylvania?EMS instructors must be at least 18 years old, have a current EMT-level certification or higher, and have successfully completed one of the following instructor programs.
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Which of the following is likely to increase the value of a country's currency?
Higher interest rates in a country can increase the value of that country's currency relative to nations offering lower interest rates. Political and economic stability and the demand for a country's goods and services are also prime factors in currency valuation.
which of the following would be the most accurate way for you to explain a benefit trigger to a prospect?
A benefit trigger is an occurrence or a condition that must occur before benefits are paid. This would be the most accurate way for you to clarify a benefit trigger to a prospect.
Prospect theory speaks out that investors value proceeds and losses differently. That is if an investor is introduced to an investment choice based on potential gains, and another based on potential losses, the investor will select an investment where potential gains are exemplified. It's useful for investors to comprehend their biases, where losses tend to induce a greater emotional effect than the equivalent gain. The prospect theory assists describe hows judgments are made by investors. Prospect theory is an aspect of the behavioral economic subgroup.
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Assume that a gourmet food manufacturer has considered renting a booth at a local mall to sell gift boxes of candy, nuts, and cookies during the holiday season. The fixed costs to rent and operate the booth would be $27,900. The unit contribution margins and sales mix anticipated by the company are as follows: Unit Contribution Margin Sales Mix Candy $1.50 50% Nuts $2.00 30% Cookies $1.00 20% What would be the weighted average contribution margin
Choose a trend in the consumer services industry that is not covered in this lesson and describe it for each of the following categories: Education Social Economic Regulatory
Education Social is the trend in the consumer services industry. Where tutors provide the class in the home or other than the educational institute.
What is Education Social?Children in a society are taught fundamental academic information, learning skills, and cultural standards through the institution of education. Every country in the world has some kind of educational system in place, albeit these systems differ widely.
Thus, option A is correct.
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Answer:
See Explanation
Explanation:
Mobile payments are becoming more and more convenient for customers. Customers can use their mobile phones using several available apps to pay for products and services without having to carry a credit or debit card.
Trend in education: There are several apps and mobile learning platforms available on smartphones and digital tablets to facilitate learning on the go. They help in bringing together different individuals or groups to collaborate and share their ideas. Many companies are working on expanding the virtual classroom experience with features such as live participation, universal access, and so on. These platforms help in lifelong learning.
Social trends: Today, certain consumer service organizations are forming non-traditional partnerships between the non-profit sector and private sector to maximize resource utilization and offer fresh ideas. This partnership results in a new consumer service ecosystem in which organizations forge interactive and interdependent relationships that are directed towards a common goal.
The social trend toward minimalism supports mobile payment technology. Consumers dislike having to carry too many things that could get lost, particularly something that could hurt their finances if lost. However, most consumers keep careful track of their mobile phone because they use it so often, so mobile payment technology is convenient for them.
Economic trend: During the economic crisis of 2008, very few banks were willing to lend money to consumers. However, now banks have become more open to lending money to consumers. Large banks have strict lending regulations, whereas credit unions and community banks have fewer restrictions and offer loans at lower interest rates.
The gradual strengthening of the economy has opened the way for mobile phone apps, which are highly technical but quite inexpensive, often free. Mobile phone apps have made a huge impact in the way people live. The slow recovery from the economic recession has actually helped this industry, who made their products easy to obtain without a financial commitment.
Regulatory trend: Banks have to meet formal expectations set by the Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC). To meet these expectations, they have to raise their standards for governance and enterprise risk management so that they can meet increased and more formal expectations. The overall assessment of risk-management frameworks will set the standard for the bank’s current structure and processes against regulatory standards. It will also help in the development of a well-defined remediation plan. Mobile phone payment apps must meet the same regulatory conditions as other financial products. Because Internet payments paved the way for making transactions secure, mobile phone payment apps were able to build on this technology to guarantee safety and privacy when making mobile payments.
2.2 List any TWO characteristics of public goods.
Answer:
non-excludable and Non-rivalrous
Ivan is upset because he feels that Yvette never listens to his ideas in meetings. In their last meeting he offered a suggestion, and Yvette responded by rolling her eyes and ignoring his comment. How should Ivan BEST approach Yvette and communicate with her to try to resolve this conflict?
A personal dialogue with Yvette asking why she never listens is the best first step to take. When the "why" is established, then using empathy and listening skills, Ivan can attempt to put himself in Yvette's shoes to hear the things he says from her perspective.
This will create understanding and help Ivan to be able to speak in the language that Yvette can understand, thus, resolving the conflict.
What is conflict?Conflict is defined as a fight and a collision of interests, opinions, or even values. A dispute will always exist in society, regardless of whether the source of the conflict is personal, racial, class, caste, political, or international.
Well-managed conflict results in improved engagement and creativity, whereas badly managed conflict results in increased stress and worry. Jobs that deal with people are more likely to cause conflict.
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Entrepreneurship is when someone:
a.) does not work for hourly pay, but instead pays themself.
b.) goes into a business partnership with a co-founder.
c.) sets up, founds, or develops a unique business.
d.) looks for ways to make money in unique ways.
Entrepreneurship is when someone sets up, founds, or develops a unique business. option C is the answer
Who is an Entrepreneur?
An entrepreneur is an individual with a unique idea that s aimed as problem solving.
The person identifies a problem and then create a lasting solution that will bring about opportunities and satisfaction to the people.
An entrepreneur bears the risk that comes from starting or establishing a new business and create opportunity around it.
Therefore, someone who sets up, founds, or develops a unique business is an entrepreneur.
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You decide to decrease the price of your product to increase total sales revenue, because you believe your product's demand is
A) perfectly inelastic
B) unit elastic
C) price elastic
D) price inelastic
Answer:
C) price elastic.
Explanation:
1. Juan earns $48,000 annually. He is paid twice a month. How much does he receive in gross pay in each check?
(Formula Salary/ times in a year he is paid)
O $1000
O $2000
O $500
O $3000
what things get selling more than another’s and why ?
Answer:
Either because they are in high demand or are advertised well
Explanation:
Problem 2-4 (Algo) Accounting cycle; adjusting entries through post-closing trial balance [LO2-4, 2-6, 2-7, 2-8]
[The following information applies to the questions displayed below.]
Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.
Account Title Debits Credits Cash 32,000 Accounts receivable 40,600 Supplies 1,800 Inventory 60,600 Notes receivable 20,600 Interest receivable 0 Prepaid rent 1,200 Prepaid insurance 6,600 Office equipment 82,400 Accumulated depreciation 30,900 Accounts payable 31,600 Salaries payable 0 Notes payable 50,600 Interest payable 0 Deferred sales revenue 2,300 Common stock 64,200 Retained earnings 30,000 Dividends 4,600 Sales revenue 149,000 Interest revenue 0 Cost of goods sold 73,000 Salaries expense 19,200 Rent expense 11,300 Depreciation expense 0 Interest expense 0 Supplies expense 1,400 Insurance expense 0 Advertising expense 3,300 Totals 358,600 358,600 Information necessary to prepare the year-end adjusting entries appears below.
Depreciation on the office equipment for the year is $10,300.
Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.
On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
On April 1, 2021, the company paid an insurance company $6,600 for a one-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.
$560 of supplies remained on hand at December 31, 2021.
A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.
The depreciation accounted in accounting of Pastina Company for the office equipment for the year is $10,300.
What are the adjusting entries in accounting?An adjustment entry is one that is created to properly allocate revenue and expenses to each accounting period.
Adjusting entries:
Dr Depreciation expense 10,300
Cr Accumulated depreciation 10,300
Dr Wages expense 900
Cr Wages payable 900
Dr Interest expense 1,518
Cr Interest payable 1,518
Dr Interest receivable 1,373
Cr Interest revenue 1,373
Dr Insurance expense 2,475
Cr Prepaid insurance 2,475
Dr Supplies expense 1,240
Cr Supplies 1,240
Dr Rent expense 600
Cr Prepaid rent 600
Cash 32,000
Accounts receivable 40,600
Supplies 560
Inventory 60,600
Notes receivable 20,600
Interest receivable 1,373
Prepaid rent 600
Prepaid insurance 4,125
Office equipment 82,400
Accumulated depreciation 41,200
Accounts payable 31,600
Salaries payable 900
Notes payable 50,600
Interest payable 1,518
Deferred sales revenue 2,300
Common stock 64,200
Retained earnings 50,540
Sales revenue 149,000
Interest revenue 1,373
Cost of goods sold 73,000
Salaries expense 20,210
Rent expense 11,900
Depreciation expense 10,300
Interest expense 1,518
Supplies expense 2,640
Insurance expense 2,475
Advertising expense 3,300
Total $380,716 $380,716
Sales revenue $149,000
Interest revenue $1,373
Cost of goods sold -$73,000
Salaries expense -$20,100
Rent expense -$11,900
Depreciation expense -$10,300
Interest expense -$1,518
Supplies expense -$2,640
Insurance expense -$2,475
Advertising expense -$3,300
Net income = $25,140
Prepaid rent $600
Prepaid insurance $4,125
Total current assets: $160,458
Office equipment $82,400
Accumulated depreciation $41,200
Total non-current assets: $41,200
Total assets: $201,658
Accounts payable $31,600
Wages payable $900
Interest payable $1,518
Deferred sales revenue $2,300
Total current liabilities: $36,318
Notes payable $50,600
Total long term debt: $50,600
Total liabilities: $86,918
Stockholders' equity:
Common stock $64,200
Retained earnings $50,540
Total stockholders' equity: $114,740
Total liabilities and stockholders' equity: $201,658
Balance on December 31: Common stock $64,200
Balance on December 31: Retained earnings $50,540
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The complete question is:
The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 32,000 40,600 1,800 60,600 20,600 1,200 6,600 82,400 30,900 31,600 50,600 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 2,300 64,200 30,000 4,600 149,000 73,000 19,200 11,300 1,400 3,300 358,600 358,600 Information necessary to prepare the year-end adjusting entries appears below.
1. Depreciation on the office equipment for the year is $10,300.
2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.
3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
5. On April 1, 2021, the company paid an insurance company $6,600 for a two-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.
6. $560 of supplies remained on hand at December 31, 2021.
7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue
8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.
Required:
1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts.
3. Prepare an adjusted trial balance.
4. Prepare an income statement and a statement of shareholders’ equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $4,600 in cash dividends were paid to shareholders during the year.
What acronym is used to represent Social Security Tax?
Answer:
FICA
Explanation:
Answer:
Hi, I'm on a summative test, and cant really answer. sorry :(
Which of the following statements is most correct?
a.
Everyone is nervous on their first day.
b.
Everyone company has the same culture.
C.
Everyone drives to work.
d.
Everyone is a good listener.
Please select the best answer from the choices provided
• A
B
C
o D
Answer:
see below
Explanation:
A
Because for the last sentence, the more proper pronoun would be "their".
How can you relate the careers in Finance as Bachelor of Science in Information Systems (BSIS) students?
A general partner Group of answer choices cannot lose more than the amount of his/her equity investment. has more management responsibility than a limited partner. is the term applied only to corporations that invest in partnerships. faces double taxation whereas a limited partner does not.
Answer:
has more management responsibility than a limited partner
Explanation:
General partner can be regarded as a
person who joins with another individual of one or more to form a business. The action of the business is the responsibility of a general partner, he/she can bind the business legally. Debts as well as obligations in the business is liable to him/her. It should be noted that A general partner has more management responsibility than a limited partner.