A small airline based in Fairbanks, Alaska, serves many small communities. The communities served by this airline are organized into functional regions.
Fairbanks, located at 65 degrees north latitude, is famous for the northern lights, also known as the aurora borealis, the midnight sun, and seemingly endless sunsets and sunrises.
Fairbanks is the Golden Heart of Alaska, serving as a base camp for Denali National Park and Preserve, the Interior, and the Arctic. The Fairbanks region is Alaska's second-largest population center, with just over 100,000 hardy souls.
Fairbanks is one of Alaska's best year-round destinations, with plenty to do whether you come for the long, warm summer days or to see the spectacular northern lights that light up the night sky during Aurora Season.
With the summer sun shining up to 24 hours a day from April 22 to August 20, the subarctic summer is alive with activity and brimming with growth. In fact, Fairbanks has 70 consecutive days of daylight from mid-May to mid-July.
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You want to buy a new ski boat 2 years from now, and you plan to save $6,400 per year, beginning one year from today. You will deposit your savings in an account that pays 6.2% interest. How much will you have just after you make the 2nd deposit, 2 years from now?
Answer:
Total Amount after 2 years = $13196.8
Explanation:
Data Given:
Amount of savings per year = $6400
Interest rate = 6.2%
Find Total Amount in account after 2 year:
Solution:
Lets consider it step by step.
Amount of money deposited in account after 1 year = $6400
After 2 years, we earn 6.2% interest on $6400,which is:
\(\frac{6.2}{100}\cdot6400= 396.8\)
So, after 2 years, BEFORE the 2nd deposit, we have $6400 + $396.8 = $6796.8 in the account.
AFTER 2nd deposit of $6400, total amount we have in account is:
Total Amount = $6796.8 + $6400 = $13196.8
The impact of discrimination behaviour to an individual
Answer:
Discrimination affects people's opportunities, their well-being, and their sense of agency. Persistent exposure to discrimination can lead individuals to internalize the prejudice or stigma that is directed against them, manifesting in shame, low self-esteem, fear and stress, as well as poor health.
Explanation:
What is the primary purpose of job specialization A. Regional self-sufficiency B. Increased consumer income C. Increased marginal utility D. Increased efficiency and productivity Plz answer this fast only have 2 hours
Answer:
D. Increased efficiency and productivity
Explanation:
Job specialization can be defined as a strategic process which typically involves the ability of employees working in an organization to develop specific skills, knowledge, great expertise or professionalism and experience to perform their duties, tasks or job functions effectively and efficiently.
In order to gain the requisite skills, expertise and knowledge for job specialization, it is very important for the employees to have undergone an extensive training and a good number of years in work experience.
The primary purpose of job specialization is to increase efficiency and productivity because the employees are able to specialize in the use of specific tools (equipments) to accomplish their tasks, as well as limit the level of error or mistakes in the production process.
Answer:
D
Explanation:
just took the test
Current business segment operations for Whitman, a mass retailer, are presented below. Merchandise Automotive Restaurant Total Sales $ 500,000 $ 400,000 $ 100,000 $1,000,000 VC 300,000 200,000 70,000 570,000 Fixed Cost 100.000 100,000 50.000 250,000 Operating Income (loss) 100,000 100,000 (20,000) 180,000 Management is contemplating the discontinuance of the Restaurant segment since "it is losing money." If this segment is discontinued, $30,000 of its fixed costs will be eliminated. In addition, Merchandise and Automotive sales will decrease 5% from their current levels. What is the shutdown point of the restaurant segment?
The shutdown point of the restaurant segment can be calculated as follows: Calculation of shutdown point: Current total sales $1,000,000. . Therefore, the shutdown point of the restaurant segment is $12,605.04.
Current variable costs $570,00, Current contribution margin $430,000, Current fixed costs $250,000, Current operating income $180,000, Less: Fixed costs that will be saved $30,000, Operating income without restaurant $150,000, New total sales (decrease 5%) $950,000, New total variable costs $551,500, New contribution margin $398,500, New total fixed costs $220,000O, operating income without restaurant $178,500
Shutdown point = Fixed costs ÷ (Unit contribution margin = Contribution margin ÷ Sales units). The contribution margin percentage is the ratio of contribution margin to total sales. In this case, the contribution margin percentage is:
Contribution margin percentage = Contribution margin ÷ Total sales. New contribution margin percentage = $398,500 ÷ $950,000 = 42%.
The contribution margin per dollar of sales percentage is the reciprocal of the contribution margin percentage. The contribution margin per dollar of sales percentage in this case is: Contribution margin per dollar of sales percentage = 1 ÷ Contribution margin percentage = 1 ÷ 42% = 2.38.The fixed costs that will be saved are $30,000. The contribution margin per dollar of sales percentage is 2.38. Therefore, the shutdown point is:
Shutdown point = $30,000 ÷ 2.38 = $12,605.04. Therefore, the shutdown point of the restaurant segment is $12,605.04.
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Question 8 of 20 Which of the following reasons for writing a formal business document would lead you to write a proposal?
A. To tell your manager a project is on budget and on schedule
B. To summarize what happened during a meeting
C. To convince your manager to use a new meeting organization tool
D. To describe what tasks you completed during the week
Answer: i say A
Explanation:
Answer:
cc just did it
Explanation:
Look positively at objections offered by prospects because an objection often reveals the key to a successful sale. If prospects have been properly qualified, then offering sales resistance is another way for them to say:
A. "I do not want to buy your product at this time."
B. "I want to buy as soon as you give me a few more facts or answers that reassure me that buying from you is the smart thing to do."
C. "I like your product, but I like your competitor's better."
D. "Your product is nice, but we cannot utilize it at present."
E. Any of the above are logical.
Answer:
B. "I want to buy as soon as you give me a few more facts or answers that reassure me that buying from you is the smart thing to do."
Explanation:
In the case wghen the prospects would be qualified as compared to the offering sales that represent the another way so here it can be said that want to purchase as soon as it provided more facts or answers that given assurance for purchasing from you which shows the smart thing to be done
Therefore the option b is correct
And, the rest of the options would be incorrect
I would like to buy as quickly as you can provide me with a few more data or answers that persuade me that buying from you is the best option."
When customers are qualified as opposed to offering sales, it can be argued that they want to buy as soon as they are given additional facts or answers that give them confidence to buy from you, which is a wise thing to do.
So, the option "B" is the correct answer to the following question.
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At the end of the month, you have only $10 left in your checking account. You deposit your $200 paycheck from your part-time waitressing job, but the restaurant is not doing well and your paycheck bounces. Your bank holds you accountable and charges you $50 for depositing a bad check. What is the balance of your checking account after attempting to deposit your bad paycheck?
Answer:
the money left in your account is $ 460 because you deducted $ 50
Explanation:
Which of the following expenses are typically paid by credit?
a) Bills
b) Rent
c) Cars
d) Groceries
Options A. Bills, B. rent, and D. groceries are all typically paid for with a credit card.
Credit cards are a popular method of payment. Credit cards allow you to make purchases without having to pay for them right away. You can use your credit card to purchase everything from groceries to clothing to plane tickets. However, certain expenditures are more likely to be made with a credit card than others. So, let's find out which expenses are typically paid by credit.
Bills: One of the most typical expenditures that people pay for using a credit card is bills. Utility bills, such as water and electricity bills, mobile phone bills, and other types of bills, can all be paid using a credit card. Many credit card issuers have online bill pay capabilities, which means that you can schedule automatic payments and ensure that your bills are paid on time.
Rent: If you rent a home or apartment, you can use your credit card to pay your rent. Some property management firms and landlords may allow you to pay rent with a credit card. However, they may impose a fee for using a credit card to pay your rent. Make sure you check with your landlord first before using your credit card to pay your rent.
Cars: Another expenditure that people may use a credit card to pay for is the purchase or rental of a vehicle. Renting a car or making monthly car payments can be done with a credit card. However, it is essential to remember that some auto lenders and rental car agencies may have a limit on the amount you can charge to a credit card.
Groceries: Groceries are another expenditure that people frequently pay for using a credit card. Many supermarkets accept credit cards for purchases, making it a convenient method to pay for your groceries. However, using a credit card to purchase groceries can result in a high balance on your credit card if you do not pay it off promptly.
Bills, rent, and groceries are all typically paid for with a credit card. Purchasing or renting a car is also an option, but it may have limitations or fees attached to it. Regardless of what you use your credit card for, it is essential to remember to pay your balance in full and on time to avoid high-interest rates or other fees. Therefore, the correct options are A. B. and D.
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Answer: its cars
Explanation:
Use the table to answer the question.
at what output level should a perfectly competitive firm choose to produce at?
a. the firm should choose to produce 1,200 units of output.
b. the firm should choose to produce 800 units of output.
c. the firm should choose to produce 300 units of output.
d. the firm should choose to produce 1.500 units of output.
Answer:
The firm should choose to produce 1,200 units of output.
The firm should choose to produce 1,200 units of output at output level should a perfectly competitive firm choose to produce. Thus, option (c) is correct.
What is firm?The term firm refers to the company as are main motive to earn profit with increases the sales. The firm are involved the partners, owner, employees, and workers. The firm is main goal to earn large profit at the end of the year.
The firm plan the strategy as large production, better quality, increases firm goodwill in the market and better perform as compare to the other companies.
The firm should decide to produce 1,200 units of output because of the benefit to the firm. It was the output is the produce 1,200 units. There are the different strategies to follow of the firm.
As a result, the significance if the firm should decide to produce 1,200 units of output level should a perfectly competitive firm choose to produce are the aforementioned.
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Your question is incomplete, but most probably the full question was.
The market price for a good is $9 and will not change. Currently, a perfectly competitive firm is producing 1,200 units of output. At this level of output, the firm's variable costs are $7,000. Use the table to answer the question.
at what output level should a perfectly competitive firm choose to produce at?
a. the firm should choose to produce 1,200 units of output.
b. the firm should choose to produce 800 units of output.
c. the firm should choose to produce 300 units of output.
d. the firm should choose to produce 1.500 units of output.
What is it called when a business contributes money, goods or services to an organization or event to gain the publicity related
A news release
B customer loyalty program
C sponsorship
D promotional tie-in
If a brand wants to measure engagement of its social media outreach, good measures to use include the following, except
1) total number of comments
2) click-through-rate
3) number of re-posts
4) number of new followers
Click-through-rate (CTR) is not a good measure to use for measuring engagement of social media outreach. Option 2
While CTR can be a valuable metric for measuring the success of a social media ad campaign, it is less useful for measuring engagement with organic content such as posts or stories.
CTR measures the percentage of users who clicked on a link within a social media post or ad and were directed to the brand's website or a specific landing page. While a high CTR is indicative of user interest and engagement, it does not necessarily show the extent of engagement with the social media post itself.
On the other hand, measures such as total number of comments, number of re-posts, and number of new followers are more useful for measuring engagement with organic content. Comments and re-posts demonstrate that users are actively engaging with the post, and the number of new followers indicates the growth of the brand's social media presence.
Overall, while CTR is a useful metric for measuring the success of social media advertising campaigns, it is not an effective measure of engagement with organic social media content. Brands should focus on other metrics such as comments, re-posts, and new followers to assess the level of engagement with their social media outreach. Option 2
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TV program B garners a 25 household share during its 8:00 –
8:30pm broadcast. The HUT at this time is 60. What is program B’s
rating?
TV program B’s rating is 15. This can be calculated by dividing the number of households tuned into the program by the number of households with their television sets turned on. The formula for calculating rating is:Rating = Households tuned to a program ÷ Households with TV sets on.
Rating is an important metric used to determine the popularity of television programs. It is a measure of the percentage of the target audience that is tuned in to a particular program at a particular time. Ratings are used by television networks to decide which programs to renew and which ones to cancel.TV program B has a household share of 25 during its 8:00 – 8:30 pm broadcast. A household share refers to the percentage of households that are watching a particular program at a given time. In this case, 25% of the households with their television sets turned on are watching program B. The HUT (Homes Using Television) at this time is 60, which means that 60% of the total households with television sets are turned on at this time.Using the formula for calculating rating, which is:Rating = Households tuned to a program ÷ Households with TV sets on We can calculate program B’s rating by dividing the number of households tuned into the program (25) by the number of households with their television sets turned on (60) and multiplying by 100. This gives us a rating of 15. This means that 15% of the total households with television sets are tuned in to program B during its 8:00 – 8:30 pm broadcast.
TV program B has a rating of 15 during its 8:00 – 8:30pm broadcast. This means that 15% of the total households with television sets are tuned in to program B at this time. A rating is an important metric used by television networks to determine the popularity of television programs. It is calculated by dividing the number of households tuned to a program by the number of households with their television sets turned on.
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ANSWER ASAP PLEASE Which statement describes a way to use credit responsibly?
paying attention to the APR
and not the
APY
paying only the minimum payment each month
opening several different credit accounts
o understanding the account's interest rate
Answer:
understanding the interest rate
Explanation:
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What is the main difference between a market demand curve and a market demand schedule?.
A demand schedule is a desk that suggests the quantity demanded at every charge. A call for curve is a graph that shows the quantity demanded at each charge. Every so often the call for curve is likewise called a call for agenda because it is a graphical illustration of the call for scheduls.
A demand schedule is a listing that indicates the quantity demanded in any respect viable fees that might prevail in the market at a given time, whereas a call for curve is a graph that shows the quantity demanded at every and every viable charge that would succeed in the marketplace at a given time.
The individual demand curve shows the small quantity of call for for a commodity however the market call for curve shows a large volume of quantity call for made by way of the complete client within the market.
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What are the major provisions of the Equal Credit Opportunity Act? Respond in 3-4 sentences.
Also research what creditors look for? Explain in detail
Answer:
Explanation:
The major provisions of the Equal Credit Opportunity Act are that it is against the established law for any creditor to differentiate against any applicant, based on certain characteristics such as race, color, religion, national origin, sex, marital status, or age
It is also considered illegal for any creditors to ask questions such as "their marital status or if they have the intention to have children.
Also, the usual practice is to inform any applicants of the status of their credit application, whether it is granted or otherwise within 30 days of application.
Generally, creditors look for information that may suggest that the applicants can easily repay their loan or credit facilities. Such as your income level, and age.
Can anyone help plzz?
Answer:
ts mad hard
Explanation
sos
3- Use the following data to answer the questions below:
Category
Billions of Dollars
Consumption $200
Investment $ 50
Government Spending $ 60
Exports $ 70
Imports $ 80
Depreciation $ 10
Foreign Factor Income $ 10
Please answer in whole numbers.
a. How much is net exports? $
b. How much is net investment? $
c. How much is GDP? $
d. How much is Net Domestic Product? $
e. How much is National Income?$
Explanation:
a. Net exports = Exports - Imports = $70 - $80 = -$10 b. Net investment = Investment - Depreciation = $50 - $10 = $40 c. GDP = Consumption + Investment + Government Spending + Net Exports = $200 + $50 + $60 - $10 = $300 d. Net Domestic Product = GDP - Depreciation = $300 - $10 = $290 e. National Income = Net Domestic Product + Foreign Factor Income = $290 + $10 = $300
Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
Which of the following is an example of risk transfer? Stop smoking Drive slower Buy insurance None of the above
Out of the given options, the example of risk transfer is (C) "Buy insurance."
Risk transfer refers to the process of shifting the risk of loss from one party to another.
When an individual buys insurance, they transfer the risk of financial loss due to a specific event, such as a car accident or a medical emergency, to the insurance company.
In return, the individual pays a premium to the insurance company for assuming the risk.
Therefore, buying insurance is an example of risk transfer.
The other options, such as stopping smoking and driving slower, are risk reduction strategies, which aim to lower the chances of a specific event occurring.
However, they do not transfer the risk of loss to another party.
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Correct question:
Which of the following is an example of risk transfer?
a. Stop smoking
b. Drive slower
c. Buy insurance
d. None of the above
Which statement best describes a business creating an incentive?
Answer:
A. A factory increases production to respond to growing demand.
B. A restaurant offers a discounted price on a new type of dish.
C. A car dealership increases the price on a car when it becomes
more popular
D. A retailer stops carrying a product that doesn't sell well in its
stores
Explanation:
An incentive is a reason why somebody should do something, or in this case, buy something. This is why I believe the right answer is B because it attracts customers.
Renter Expenses
What expenses do you need to budget for if you choose to rent a home? Check all that apply.
a mortgage payment
a rent payment
homeowners insurance
renters insurance
property taxes
a security deposit
utility payments
When choosing to rent a home, the following expenses should be considered and budgeted for:
Rent payment: The primary expense when renting a home is the monthly rent payment, which is typically paid to the landlord or property management company.Renters insurance: Renters insurance is a type of insurance that provides coverage for personal belongings and liability protection in case of accidents or damages within the rented property. It is generally recommended for tenants to protect their belongings.Security deposit: Most landlords require tenants to pay a security deposit upfront, which serves as a form of protection for the landlord against any potential damages or unpaid rent. The security deposit is usually refundable at the end of the tenancy, provided there are no damages beyond normal wear and tear.Utility payments: As a renter, you will likely be responsible for paying utilities such as electricity, water, gas, and possibly other services like internet and cable. These costs can vary depending on the size of the property and your usage.Homeowners insurance: Homeowners insurance is not an expense for renters. It is typically of the property owner to have insurance coverage for the property itself, including the structure and any liabilities associated with it.In summary, when renting a home, you need to budget for rent payment, renters insurance, security deposit, and utility payments. Homeowners insurance and property taxes are not expenses that renters typically have to pay.
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Answer:
b, d, f, g
Explanation:
Due Day 3 Respond to the following in a minimum of 175 words: What accounts are affected by closing entries? What accounts are not affected? The owner of a local business complains that the closing process consumes a lot of time and delays reporting month-end financial results. How would you convince the owner of the importance and purpose accomplished by this process? Due Day 7 Reply to at least 2 of your classmates or to the professor. Be constructive and professional in your responses. Be careful not to just agree with another post and repeat what it says. Such posts are not substantive. Try to spend time adding your own perspectives. There is no word count for responses, but they must be more than a couple of sentences.
Closing entries affect the temporary accounts (revenue, expense, and dividend) while permanent accounts (assets, liabilities, and equity excluding retained earnings) are not affected.
The closing process ensures accurate financial statements, compliance with accounting standards, and enables clear period separation. It supports long-term financial planning, transparency to stakeholders, and informed decision-making.Closing entries affect the temporary or nominal accounts in the accounting system, including revenue, expense, and dividend accounts. These entries transfer the balances of these accounts to the retained earnings or owner's equity account, resetting the temporary accounts to zero for the next accounting period.Accounts not affected by closing entries are the permanent or real accounts, such as assets, liabilities, and equity accounts (excluding retained earnings). These accounts carry forward their balances from one period to another.To convince the owner of the importance of the closing process, it's essential to emphasize the following:- Accuracy and Compliance: Closing entries ensure accurate financial statements and compliance with accounting standards.
- Clear Period Separation: The process marks the end of one period and the start of another, facilitating analysis and decision-making.
- Long-term Planning: Accurate retained earnings calculation supports long-term financial planning and evaluation of business performance.
- Financial Transparency: Closing entries provide transparency to stakeholders, including investors and creditors, by presenting a clear picture of the company's financial results.By explaining these benefits, the owner can understand that the closing process is crucial for reliable financial reporting, adherence to accounting principles, and making informed business decisions.
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he balance shown in the august bank statement of a company was $22,500. after examining the august bank statement and items included with it, the company's accountant found: checks outstanding $ 3,600 nsf check 130 note collected by bank for the colt company 2,100 deposits outstanding 2,600 bank service fees 70 what is the amount of cash that should be reported in the balance sheet as of august 31?
As of August 31, there should be $21,500 shown as cash on the balance sheet.
Bank Reconciliation: What is it?Comparing the balances for a cash account in a company's accounting records to the corresponding information on a bank statement is the process of performing a bank reconciliation. This procedure's goal is to identify any inconsistencies between the two, and any necessary adjustments will be noted in the accounting records.
Comparing the balances for a cash account in a company's accounting records to the corresponding information on a bank statement is the process of performing a bank reconciliation.
What does a bank reconciliation serve?Bank reconciliations are an essential internal control measure for preventing and identifying fraud. They also help in the identification of accounting and banking issues by describing the differences between the cash balances in the accounting record and the bank balance position as stated in the bank statement.
Bank Balance on 31st August = $22,500
Less: Check outstanding = $ 3,600
Add: Deposit outstanding = $2,600
Cash balance to be recorded = $21,500
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5 role of development banks in economic development
The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. ... Thus, the banks play an important role in the creation of new capital (or capital formation) in a country and thus help the growth process.
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
Schaad Corporation has entered into an eight-year lease for a piece of equipment. The annual payment under the lease will be $2,500, with payments being made at the beginning of each year. If the discount rate is 14%, what’s the present value of the lease payments? Ignore income taxes in this problem
Based on the payments being made at the beginning of the year and the discount rate, the present value of the lease payments is $13,220.75.
What is the present value of the lease payments?The fact that the payments are made at the beginning of the year makes this an annuity due.
The present value is:
= Amount x ( Present value of annuity due factor, 14%, 8 years)
Solving gives:
= 2,500 x 5.2883
= $13,220.75
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23. m1 includes: a) cash, savings deposits, demand deposits, money market deposit accounts, small-denomination time deposits, and shares in retail money market mutual funds. b) cash, demand deposits, and small-denomination time deposits. c) cash, demand deposits, and large-denomination time deposits. d) cash, demand deposits, and other checkable deposits.
d) cash, demand deposits, and other checkable deposits.
Do modest time deposits count toward M1?Very few components are categorised as M1 due to how strictly defined M1 is. Savings account deposits, small-time deposits, and retail money market accounts are all included in the broader category M2.
What asset is included in M1?We quantify money using a variety of definitions: M1 covers cash and funds held in checking accounts. One element of M1 is traveler's checks, which are becoming less common. All of M1 as well as savings deposits, time deposits like certificates of deposit, and money market funds are included in M2, as well.
M1 or M2 savings accounts?M1 includes currency and checking account funds. Additionally, travelers' checks have become less popular. M2 consists of M1, plus savings deposits and time deposits like certificates.
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Which statement is the most correct about in-laws and possible complications in a family business?
a. Rarely do in-laws impact the business since they are only indirectly involved and have
limited decision making responsibilities if at all.
b. In-laws may impact the business if they are employed in the firm and are responsible for
decision making.
c. There will be a complication only when in-laws are competing against another family
member for a promotion.
d. In-laws will impact the business as they increase the number of persons who are either
directly or indirectly involved in the family business.
Option d. "In-laws will impact the business as they increase the number of persons who are either directly or indirectly involved in the family business" is the most correct statement about in-laws and possible complications in a family business.
In-laws can have a significant impact on a family business, especially when they are directly involved or have decision-making responsibilities. The addition of in-laws to the family business can increase the complexity of family dynamics, as they bring their own set of personal and business interests, goals, and values to the table.
Moreover, in-laws may create conflicts and disagreements with other family members regarding the future direction of the business. These conflicts can be exacerbated when in-laws are competing against another family member for a promotion or position in the company.
Therefore, it is important for family businesses to have a clear governance structure and effective communication channels to minimize the potential for conflicts arising from in-law involvement.
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What is an idea that is based on what customers need or want and are willing to buy sufficiently often at a high enough price to sustain a business?
Art of exchange is an idea that is based on what customers need or want and are willing to buy sufficiently often at a high enough price to sustain a business.
What is an art of exchange?The Art of the Exchange exist in business marketing when an individual who is a customer is willing to pay an amount of money to get something in exchange.
The person gets something worth the value of money paid and may be required to pay more.
Therefore, Art of exchange is an idea that is based on what customers need or want and are willing to buy sufficiently often at a high enough price to sustain a business.
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5.12 On 1 April 2013, the first day of the financial year, T Young paid $9,500 cash for a computer to be used in his business. He also paid $500 for installation and $1,000 for annual maintenance charges. The computer was to be depreciated by the straight-line method at an annual rate of 20%, ignoring salvage value. On 31 March 2016, the computer was sold for $4,250 cash.
Required:
Show the entries in the following accounts and statements during the period of ownership:
a Computers account
b Computers accumulated depreciation account
c Computers disposal account
d Income statement (extract)
e Statement of financial position (extract)
a. Computers Account: 1 April 2013: Debit $10,500 (cash paid for computer, installation and maintenance) 31 March 2016: Credit $4,250 (cash received from sale of computer)
What is installation?Installation is the process of setting up a device or program in order to make it operational and ready for use. It involves configuring the settings, downloading and installing the necessary software and hardware components, and testing the system to make sure it works properly.
b. Computers Accumulated Depreciation Account
1 April 2013: Debit $2,100 (calculated depreciation based on 20% of cost of $10,500)
31 March 2016: Credit $2,100 (accumulated depreciation to be reversed)
c. Computers Disposal Account
31 March 2016:
Debit $4,250 (cash received from sale of computer)
Credit $2,100 (accumulated depreciation to be reversed)
Credit $2,150 (gain on sale of computer)
d. Income Statement (Extract)
31 March 2016:
Debit $2,100 (accumulated depreciation to be reversed)
Credit $2,150 (gain on sale of computer)
e. Statement of Financial Position (Extract)
31 March 2016:
Debit $4,250 (cash received from sale of computer)
Credit $2,100 (accumulated depreciation to be reversed)
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