According to Incoterms, the risk of loss under contract terms "FAS Name of Vessel" passes to the buyer when the goods are delivered alongside the named vessel. True or False

Answers

Answer 1

Answer: True

Explanation:

Free Alongside (FAS) is an International Commerce term (Incoterm) that is used to describe that a seller should deliver goods to within reach of a Buyer's transportation vessel so that it may be ready to be picked up by the Buyer's vessel easily.

"FAS Name of Vessel" means that the seller should deliver the goods next to the Vessel named so that it may then be re-loaded into the vessel. The risk therefore passes to the Buyer from the Seller once this is done.


Related Questions

During the closing process, income statement accounts are closed and end the period with a zero balance.

t or f

Answers

The statement that during the closing process, income statement accounts are closed and end the period with a zero balance is TRUE.

How is the income statement account closed?

When the period is being closed to start the next period, the income statement account is closed and all the revenue and expense accounts are send to the income summary account.

This leaves the income statement account with a zero balance. The income statement account is not the only account that this happens to as there are other temporary accounts such as expenses that are closed off as well.

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This week, you will be drafting an ATS resumé (applicant tracking system), and a cover letter. Discuss your experience with these important aspects of the career process: Do you prefer to use template designs for resumés/cover letters? When do you need to use ATS (applicant tracking system) resumés (and why)? How should you think about the relationship between your resumé and cover letter?

Answers

Using redesign template designs  you can think about the relationship between your resumé and cover letter.

What is ATS (applicant tracking system) ?

An applicant tracking system (ATS) can be used by businesses to organize and monitor candidates for hiring and recruitment purposes. With the use of these tools, businesses may collect data, categorize prospects based on their experience and skill level, and screen potential employees.

More than 90% of Fortune 500 organizations currently employ ATSs. Even though these systems are excellent at keeping candidate information, the best application tracking systems can keep track of all communications with candidates. By making it easier to search and filter resumes and other applicant information, this decreases time to fill and ensures that businesses obtain the best candidates for the position.

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The environment of business impacts all of the other environmental influences

Answers

Explanation:

The global environment affects all of the other environmental influences such as the economic, legal, and social environments because: the increase in free trade among nations and technological changes have created globalization and increased competition.

hope it will help you

How does Apple Forecast the Demand for IPhone

Answers

Answer:

Apple's management style emphasized placing individuals in highly specific positions rather than being elevated based on tenure or experience alone. See how this management style, high levels of secrecy, and unrivaled attention to detail and customer experience elevated the brand.

Explanation:

Apple Company on its manufacturing processes of an iPhone, always it has to predict on demand, so that will only produce the required quantity

Psychographic segmentation of Starbucks

Answers

Answer:

One of the main marketing strategies a company like Starbucks employs is psychographic segmentation. Psychographic segmentation consists of dividing consumers from a market into groups based on social class, ... 34). This kind of strategy allows for appropriate allocation of resources proper adjustment of marketing mix

Explanation:

PA BRAINLIEST

which of the following should not be recorded in income and expenditure account?
a.sale of old newspaper.
b.loss on sale of asset .
c.honorarium paid to the secretary .
d.Sale proceeds of furniture ​

Answers

Answer:

C. honorarium paid to the secretary

Explanation:

i need help correct answer gets brainlyist

How has the internet affected the tourism industry?

It has increased traveler knowledge and made booking travel easier and more affordable.
It has led to challenges for travelers who book their own travel without knowing local areas.
It has made travel more complicated, requiring more travel agents to support customers.
It has reduced the safety and security of traveler identities, making people afraid to travel.

Answers

The effect of the internet on the tourism industry as It has increased traveler knowledge and made booking travel easier and more affordable. Option A

This is further explained below.

What is the tourism industry?

Generally, The tourism sector may be defined in its most general sense as the sum of all firms that directly supply products or services to assist business, pleasure, or leisure activities in an environment that is different from that of the typical home.

In conclusion, The impact of the internet on the tourist sector may be summarized as follows: the internet has improved traveler information, simplified the booking process, and lowered prices. Alternative

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Which of the following statement is TRUE?

(1 Point)

Developmental programs improve conceptual skills of managers for the future job.

Training programs improve conceptual skills of nonmanagers for the future job.

Developmental programs improve technical skills of nonmanagers for the current job.

Training programs improve technical skills of mangers for the current job.

Answers

'Developmental programs improve conceptual skills of managers for the future job' is true. The right answer is a.

The goals and content of training and development are different from one another. While "development" refers to a long-term method through which managerial personnel understand conceptual and theoretical knowledge for broad reasons, "training" is a short-term process through which non-managerial personnel acquire technical knowledge and skills for a specific purpose.

Development covers the process through which managers and executives build capacity for both future managing roles as well as skills and competence for their current ones.

The correct answer is option a.

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Your friend Stan owns a coffee shop in a monopolistically competitive industry. One day, Stan tells you (an economist) that he is earning an economic profit and is setting his price equal to his marginal cost. Is Stan producing the profit-maximizing amount of coffee? What should he do?

Answers

In a monopolistically competitive industry, each firm has some control over the price it sets due to product differentiation.

Stan mentioned that he is earning an economic profit and setting his price equal to his marginal cost. To determine whether he is producing the profit-maximizing amount of coffee, we need to consider a few factors.
1. First, let's understand the relationship between price, marginal cost, and profit maximization. In a competitive market, profit maximization occurs where marginal cost equals marginal revenue. However, in monopolistic competition, firms have some market power, so the profit-maximizing quantity occurs where marginal cost equals marginal revenue, not price.
2. Setting the price equal to marginal cost does not necessarily guarantee profit maximization. If Stan's price is equal to marginal cost, it means that he is covering his variable costs, but it does not take into account his fixed costs. To maximize profit, Stan should set his price above marginal cost, considering both variable and fixed costs.
3. If Stan is currently earning an economic profit, it suggests that he may not be producing the profit-maximizing amount of coffee. In monopolistic competition, firms tend to have excess capacity, meaning they produce less than the quantity that would minimize average total cost. By increasing his output, Stan may be able to reduce his costs and increase his profit.

Considering these factors, here are a few suggestions for Stan:
- Conduct a cost analysis: Stan should evaluate his fixed and variable costs to understand the full picture of his expenses. By knowing his costs, he can set a more informed price and determine the profit-maximizing quantity.
- Consider demand elasticity: Stan should also assess the price elasticity of demand for his coffee. If demand is relatively elastic, a small price increase may result in a significant decrease in quantity demanded, potentially reducing his profits. On the other hand, if demand is inelastic, Stan may be able to increase his price without a significant drop in sales.
- Experiment with pricing: Stan could consider experimenting with different prices to find the optimal point that maximizes his profit. By monitoring customer response to different prices, he can identify the price that generates the most revenue while covering his costs.

By taking these steps and considering the unique characteristics of monopolistic competition, Stan can better position his coffee shop for long-term success and profitability.

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Match the design thinking stage to its description.

Question 14 options:

The design team creates multiple inexpensive versions of the product, known as minimum viable products (MVPs)


Spend time gaining an understanding by observing, engaging, and empathizing with customers to understand their experiences and their needs better


Analyze observations and information to identify the core problem


The design team comes up with solution ideas


The design team identifies any additional problems and refines the final solution before the final product is produced and released to customers

1.
Empathize

2.
Define

3.
Ideation

4.
Prototype

5.
Test

Answers

The design team creates multiple inexpensive versions of the product, known as minimum viable products (MVPs) - Prototype.

Spend time gaining an understanding by observing, engaging, and empathizing with customers to understand their experiences and their needs better - Empathize

Analyze observations and information to identify the core problem - Ideation

The design team comes up with solution ideas - Ideation

The design team identifies any additional problems and refines the final solution before the final product is produced and released to customers - Test

What is a Design thinking?

Generally, a design thinking means the set of cognitive, strategic and practical procedures used by designers in the process of designing and to body of knowledge that has been developed about how people reason when engaging with design problems. A design thinking is also associated with the prescriptions for the innovation of products and services within business and social contexts.

The term "design thinking" is been used to refer to specific cognitive style, a general theory of design (which is way of understanding how designers work), and a set of pedagogical resources (through which organisations or inexperienced designers can learn to approach complex problems in a designerly way).

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A firm operates in perfectly competitive market. The market price of its product is 6 birr and the cost function is given by 1/3Q3-5Q2+20Q+50, where TC is total cost and Q is the level of output. A. What level of output firm should the firm produce to maximize its profit? B. Determine the level of profit at equilibrium C. What a minimum price is required by the firm to stay in the market?​

Answers

To maximize profit in a perfectly competitive market, the firm should produce at the output level where marginal cost (MC) equals the market price (P).

The total cost (TC) function is given as:

TC = 1/3Q^3 - 5Q^2 + 20Q + 50

To find the marginal cost, we need to take the derivative of the total cost function with respect to Q:

MC = dTC/dQ = Q^2 - 10Q + 20

A. To maximize profit, set MC equal to the market price (P) and solve for Q:

Q^2 - 10Q + 20 = 6

Q^2 - 10Q + 14 = 0

Solving this quadratic equation will give us the level of output (Q) that maximizes profit. Using the quadratic formula, we find:

Q ≈ 2.34 or Q ≈ 7.66

Since Q represents the level of output, it cannot be a fraction or negative value in this context. Therefore, the firm should produce approximately 7 units of output to maximize profit.

B. To determine the level of profit at equilibrium, we need to calculate total revenue (TR) and subtract total cost (TC) at the output level where MC = P.

TR = P * Q

TR = 6 * 7 = 42

Profit (π) = TR - TC

Profit (π) = 42 - TC

To calculate the specific level of profit, we need the total cost equation. Substituting the value of Q into the TC equation, we can find the total cost at equilibrium.

C. To determine the minimum price required by the firm to stay in the market, we need to consider the level of average variable cost (AVC). If the price falls below AVC, the firm would be better off shutting down in the short run.

AVC = TVC / Q

AVC = (TC - TFC) / Q

However, the total fixed cost (TFC) is not provided in the given information. Without the TFC value, we cannot determine the minimum price required to stay in the market.

Therefore, we can answer parts A and B, but we cannot determine the minimum price required to stay in the market without the total fixed cost (TFC) information.

which of the following pieces of information will you find on the safety data sheet
walmart

Answers

Normally, the safety data sheet (SDS) for a product offered by Walmart will contain details regarding the risks associated with the product, including any potential physical risks or health impacts connected with its use or handling.

Additionally, it might contain details on the proper safety precautions or safeguards to use when utilizing the product, as well as first aid procedures to follow in the event of exposure or unintentional ingestion.

The SDS may also include details on the chemical makeup of the product, its characteristics, and any potential chemical interactions, as well as details on disposal and storage.

The specific information on the SDS will vary depending on the product in question and the laws governing its use and handling.

Here are some examples of the kinds of details you might discover on a safety data sheet:

A household cleaner might have a safety data sheet that details the product's chemical makeup, potential risks (including eye or skin irritation), and safety measures to take when using the product.

An SDS for a paint product may contain details on the chemicals used in the paint and any potential dangers.

An SDS for a product used in a laboratory setting may provide information on the possible health effects of the chemicals in the product and handling safety measures.

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the question is incomplete. the complete question is

What pieces of information will you find on the safety data sheet Walmart?

What kinds of barriers get in the way of "following your dreams"?

Answer: A. Individuals may not have the talents or resources to simply do whatever they dream of doing.

Answers

The kind of obstacles that prevent people from "following their ambitions" It's possible that some people lack the skills or resources necessary to pursue their dreams.

What kinds of skills are examples?

making excellent choices despite having little knowledge. recognizing other people's viewpoints and interacting with various types of people successfully. Setting objectives, keeping track of progress, and making an effort to enhance your job. generating original answers and imaginative concepts to address issues.

What does human resources talent mean?

Talent management, which includes a variety of HR procedures throughout the employee life cycle, is the attraction, selection, and retention of personnel. It includes hiring, onboarding, succession planning, learning and development, performance management, workforce planning, and employee engagement.

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Answer:

Individuals may not have the talents or resources to simply do whatever they dream of doing.

Explanation: Just took the test

Rodney (a fictional person) was self-employed, running a successful business, seemingly healthy, and never thought he would have financial problems. Being self-employed, he lacked health insurance. One day on the job, Rodney suffered a heart attack and was hospitalized for a week. As a result, he owed more than $100,000 in hospital and medical bills to the hospital. After the heart attack, Rodney could not work in his physically demanding line of work, and his business suffered dramatically. The bills and mortgage payments kept piling up, and Rodney was sinking fast. On top of the medical bills and mortgage, he owed thousands of dollars to multiple companies and creditors. Rodney considered selling his house to get out of the financial crisis he was in, but the value of the house had dropped significantly. After much consideration, Rodney decided to file, bankruptcy. In the end, he decided he would rather have a bankruptcy on his record instead of dealing with a mountain of debt.
1. Bankruptcy, ___________occurs when a debtor turns over all assets to a trustee, an individual who takes over administration of the debtor's estate.
a. An order of relief
b. An automatic stay
c. Relief
d. Liquidation
e. Bankruptcy
2. Who is defined as a debtor for liquidation purposes? Can Rodney file for bankruptcy?
a. Banks; Rodney cannot file.
b. Individuals; Rodney can file.
c. Health Maintenance Organizations; Rodney cannot file.
d. Partnerships: Rodney cannot file
e. Corporations; Rodney cannot file
3. Suppose that Rodney did not intend to file for voluntary liquidation. Could he be forced into bankruptcy?
a. No, he must file the bankruptcy himself.
b. Yes, because he has more than 12 creditors.
c. Yes, because he has a single creditor with a claim of more than $12,300 in debt.
d. No, because people who are self-employed cannot be forced into filing.
4. Rodney has a lot of creditors that are trying to sue him for the debt he owes. One benefit of filing is that once a petition is filed, the code provides for a(n) _______________for almost all creditor litigation against the debtor.
a. Liquidation
b. Order of relief
c. Creditor’s meeting
d. Preferential payment
e. Automatic stay
5. If the filing of Rodney's voluntary petition is proper, the petition automatically becomes a(n):_____.
a. Fraudulent transfer
b. Creditor’s meeting
c. Preferential payment
d. Discharged debt
e. Order of relief.
6. Suppose Rodney fails to show up at his creditors' meeting with his creditors because he is scared to meet with the hospital representatives. What is a possible consequence of his failure to show?
a. His creditors will be allowed to sue him for failure to show.
b. The court may refuse to grant the bankruptcy
c. Rodney will be charged with a criminal offense.
d. There is no penalty for missing a creditor’s meeting.
e. His appointed trustee will be penalized, but Rodney will not.

Answers

Answer:

1. Bankruptcy, ___________occurs when a debtor turns over all assets to a trustee, an individual who takes over administration of the debtor's estate.

b. An automatic stay

2. The person defined as a debtor for liquidation purposes is

b. Individuals; Rodney can file.

3. If Rodney did not intend to file for voluntary liquidation, he could not be forced into bankruptcy.  a. No, he must file the bankruptcy himself.

4. One benefit of filing is that once a petition is filed, the code provides for a(n) _______________for almost all creditor litigation against the debtor.

e. Automatic stay

5. If the filing of Rodney's voluntary petition is proper, the petition automatically becomes a(n):_____.

e. Order of relief.

6. A possible consequence of Rodney's failure to show up at a creditors meeting is:

b. The court may refuse to grant the bankruptcy

Explanation:

In bankruptcy practices, an order for relief invokes the automatic stay.  It is a block on Rodney's debts which brings down the iron curtain, thus, separating Rodney's pre-bankruptcy from his post-bankruptcy.  It automatically creates a bankruptcy estate, which prohibits all unauthorized transfers of the Rodney's property.

Which of the following is an example of a direct question?
•"I understand that you wish to improve your supply chain, right?"
•"Why do you think you want to upgrade your motor fleet?"
•"What are your needs for wireless technology?"
•"Does your firm want to reduce its production costs?"

Answers

An example of a direct question would be: Does your firm want to reduce its production costs? Option d.

What is a direct question?

A direct inquiry usually ends in a question mark and is one that can be replied (i.e., it is not a statement). Have you ever texted the incorrect person, for instance? When eating pizza, do you fold it?

The indirect question will have if if the direct question is a "yes or no" inquiry and lacks a question word like what, who, when, where, why, or how. Do you like Italian food, Tom? Do you know if Tom enjoys Italian cuisine? Are your folks coming to supper with us?

Direct inquiries make no assumptions, allowing the respondent to completely express their own narrative using their own words. This reveals the most precise understanding of their motivations. Leading questions, however, skew results due to our own prejudice.

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If the Market Equilibrium Wage Rate is $105.00 and FC = $1500.00: A. The firm Shuts Down and hires no workers and loses $1500.00 B. The firm hires 45 workers and earns a $1200.00 Economic Profit C. The firm hires 55 workers earns a $975.00 Economic Profit D. The firm hires 40 workers and earns a $1200.00 Economic Profit

Answers

Answer: B. The firm hires 45 workers and earns a $1,200.00 Economic Profit

Explanation:

If the Market Equilibrium rate is $105 then the company should hire 45 workers as shown in the table.

If they did that, revenue would be $7,425

Expenses would be wages and fixed costs:

= Wages + fixed costs

= (45 workers * wage rate) + 1,500

= (45 * 105) + 1,500

= $6,225

Economic profit would be:

= 7,425 - 6,225

= $1,200

If the Market Equilibrium Wage Rate is $105.00 and FC = $1500.00: A. The firm Shuts Down and hires no

Indicate what is happening to the U.S. real exchange rate in each of the following situations.
The U.S. nominal exchange rate is unchanged, but prices rise faster in the United States than abroad.

Answers

If the U.S. nominal exchange rate is unchanged, but prices rise faster in the United States than abroad, the real exchange rate increases.

an accurate exchange rate R is defined as the difference between domestic and international prices, where domestic prices are calculated using the nominal exchange rate at the time. Formally, R=(E.P*)/P, where P* stands for the domestic price level and P* for the international price level.

The real exchange rate (R) is said to appreciate when it falls and depreciate when it rises. The real rate indicates how much more or how little less goods and services can be purchased for a certain amount overseas (after conversion into a foreign currency).

In actuality, changes in the real exchange rate are more significant than changes in the rate itself.

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Which technology was used to try and prevent illegal recording, copying, and distribution of movies and TV shows?
The FTC was unsuccessful in their attempt to enforce
Technology to prevent illegal recording, copying , and distribution of movies and television shows

Answers

Software that detects piracy was utilized in an attempt to eliminate the unauthorized recording, copying, and distribution of movies and TV episodes.

What is Piracy?

The illegal cloning of copyrighted material and transfer of ownership of it in the black market for many reduced rates are referred to as piracy.

The government has provided copyright protection to individuals to safeguard their new creations from being copied.

There are various technologies have been created in the form of software that helps to identify the copied content and the source from which they copied.

In an attempt to eliminate the growth of pirate distributors, information software maintains a database of authorized distributors of original content.

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forward linking sector

Answers

Answer:

wut?

Explanation:

Cara has just come in for her morning shift , but the sales floor is a mess . Looks like the night crew didn't clean up . She groans , but then gets to work cleaning the displays before customers come . If she doesn't , who else will ? What good problem - solving skills is she exhibiting? a ) Seeking advice when necessary Ob ) Open to seeing new perspectives c ) Having a solutions - oriented attitude

Answers

Answer:

having a solutions-oriented attitude

Explanation:

she seen things wasn't done so she starts cleaning because she takes pride in her job

what is the function of product and service management​

Answers

The answer is Perform market

5
Сл
Which phrase BEST describes the process of specialization?
OA.
identifying trends
OB.
segmenting tasks
O C. creating teams
OD. charting organizations
Reset
Next

Answers

Segmenting Tasks describes specialization the best

What is Specialization?

The method in which a production process is separated into phases, with each employee or company focusing on just one part of the production is known as specialization. When people and organizations specialize, they concentrate on the small number of productive tasks that they excel in.

Specialization is the degree to which activities or tasks in an organization are broken down and divided into individual jobs.

Through specialization, a worker can leverage their education and work history to speed up procedures and boost sales. High-quality work results from specialization.

What is Segmenting Tasks?

The process of segmenting a target market into groups of potential clients with similar requirements and behaviors involves dividing the market into segments.

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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.

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What are three advantages and three disadvantages of globalization

Answers

Living dying survival food water animals according to my ficisallogu Shri

Submission Requirements Hurry Pls Help ASAP!!!

Nine hundred word response.


When submitting written assignments, please remember to:


Submit the assignment question(s) and your responses.

Proofread for spelling, grammar, and punctuation.

Remember complete sentence structure.

Paragraphs need to have minimum of six sentences.


Submit your E.T.H.I.C.S. model of one of the provided scenarios.

Answers

When submitting written assignments, please remember to Proofread for spelling, grammar, and punctuation. Hence, option B is correct.

What is meant by Proofread?

Proofread is the double-checking of the written assignment or the work that is being already done to the person. It helps the person to identify the little mistakes that they have made during the making of the assignment.

Proofread is always a better solution to understand the work and makes the work complete and perfect. After Proofread, one can identify their mistakes and make them correct.

Thus, option B is correct.

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Zion’s uncle, a project manager, who works for a variety of companies managing people and projects that have specific deadlines, could best be described as a(n)

Answers

Zion's uncle, who works as a project manager for a variety of companies managing people and projects with specific deadlines, could best be described as a "contract project manager" or a "freelance project manager."

As a contract project manager, Zion's uncle operates on a project-by-project basis, providing his project management expertise to different companies or clients. He is hired for a specific duration or scope of work and is responsible for overseeing the planning, execution, and successful completion of projects within the given deadlines.

Being a contract project manager allows Zion's uncle to work with different companies, industries, and project types, providing flexibility and exposure to various challenges and opportunities. He is likely skilled in project management methodologies, communication, coordination, and leadership, enabling him to effectively manage teams and deliver projects on time.

The nature of his work, involving specific deadlines and managing people across different projects, suggests that he operates in a dynamic and results-oriented environment, where meeting project milestones and achieving deliverables within set timeframes are critical.

Overall, Zion's uncle's role as a project manager who works on multiple projects with specific deadlines aligns with the description of a contract or freelance project manager.

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PLEASE ANSWER ASAP: I NEED HELP
PLEASE DO NOT JUST ANSWER FOR THE POINTS, PLEASE ACTUALLY HELP!!!!!

PLEASE ANSWER ASAP: I NEED HELP PLEASE DO NOT JUST ANSWER FOR THE POINTS, PLEASE ACTUALLY HELP!!!!!

Answers

The true about retirement savings withheld from employee paychecks. Workers don't have to pay taxes on it until they make account withdrawals, allowing for potential tax savings and the opportunity for the savings to grow over time. Option D.

Retirement savings withheld from employee paychecks typically refers to contributions made to retirement plans such as 401(k) or Individual

Retirement Accounts (IRAs). These contributions are deducted from an employee's paycheck before taxes are applied, which means they are made with pre-tax dollars. As a result, the contributions reduce the employee's taxable income in the year they are made, potentially lowering their overall tax liability.

The tax advantage of retirement savings withholding allows individuals to defer taxes on the contributed amount and any investment gains until they withdraw funds from their retirement accounts in the future.

This deferral allows the savings to potentially grow and compound over time without being taxed annually, providing a tax-efficient way to save for retirement.

It's important to note that option A, which suggests that retirement savings are always matched by the employer, is not universally true. While many employers offer matching contributions as part of their retirement benefits package, not all employers provide a dollar-for-dollar match.

The matching policy can vary widely, ranging from a percentage match to no match at all.

Option B, suggesting that the money withheld is not needed for retirement living expenses, is a generalization and may not hold true for all individuals. Retirement savings are intended to be used for future retirement expenses, and the amount needed will vary depending on an individual's retirement goals, lifestyle, and other factors.

Option C, stating that retirement savings withheld from paychecks is another way of making employers rich, is an oversimplification and does not accurately represent the purpose and nature of retirement savings. Retirement savings are primarily designed to help individuals build financial security and support themselves during their retirement years. Option D is correct.

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Refer to the data below. Retained earnings, December 31, 2019 $ 341,200 Cost of buildings purchased during 2020 48,000 Net income for the year ended December 31, 2020 55,100 Dividends declared and paid in 2020 32,600 Increase in cash balance from January 1, 2020, to December 31, 2020 23,400 Increase in long-term debt in 2020 45,000 Required: From the above data, calculate the Retained Earnings balance as of December 31, 2020:

Answers

Answer:

$363,700

Explanation:

The retained earnings balance as of December 31, 2020 is computed as;

= Retained earnings as of December 31, 2019 + Net income - Dividend paid

Given that

Retained earnings as of December 31, 2019 = $341,200

Dividends = $32,600

Net income = $55,100

Retained earnings balance as of December 31, 2020

= $341,200 + $55,100 - 32,600

= $363,700

Suppose you have a credit card bill of $1,275 for the month of October. If you pay the full balance before your bill is due, how much will you pay in interest?

Answers

Note that according to the above prompt, no interest will be paid on the credit card bill.

What is the rationale for the above response?

You will not be charged interest if you pay the entire balance before the payment is due.

Because interest is usually imposed on outstanding balances, if the entire debt is paid before the due date, there will be no unpaid balance and hence no interest to pay. Pay the balance before the due date to prevent interest charges and late penalties. If the balance is not paid in full, interest will be levied on the unpaid balance, which may rapidly pile up and make the credit card debt more expensive.

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North Company has completed all of its operating budgets. The sales budget for the year shows 50,820 units and total sales of $2,391,000. The total unit cost of making one unit of sales is $23. Selling and administrative expenses are expected to be $303,100. Interest is estimated to be $13,060. Income taxes are estimated to be $220,400.

Required:
Prepare a budgeted multiple-step income statement for the year ending December 31, 2017.

Answers

Answer:   Sales        2,250,000

Explanation:  

variable cost                      1,250,000

25 x 50,000

Gross Profit                      1,000,000

Fixed Cost

Selling & Administrative    300,000

Operating income         700,000

interest expense

10,000

non- controllable expenses 10,000

non-controllable income   690,000

income taxes                      200,000

net income                        490,000

Explanation:

the interest expense is not part of the operating cost, those cost are not part of the business activity. It is on the non-controllable expenses

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