Answers
Answer:
to hold money on a account
Explanation:
Bank statements are a great tool to help account holders keep track of their money. They can help account holders track their finances, identify errors, and recognize spending habits.
Related Questions
Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department:
Equivalent units of production—direct materials 124,000 EUP
Equivalent units of production—conversion 107,200 EUP
Costs in beginning Work in Process—direct materials $67,800
Costs in beginning Work in Process—conversion $ 49,800
Costs incurred in February—direct materials $ 572,900
Costs incurred in February—conversion $ 719,500The cost per equivalent unit of production for conversion is:___________.
a. $12.06
b. $6.71
c. $7.18
d. $6.20
e. $5.98
Answers
Answer:
The correct option is C,$7.18
Explanation:
The cost per equivalent unit of production for conversion is the costs in beginning work in process—conversion plus costs incurred in February—conversion, divided by the equivalent unit of production-conversion
the costs in beginning work in process—conversion is $49,800
costs incurred in February—conversion is $719,500
equivalent units of production-conversion is 107,200
The cost per equivalent unit of production for conversion = ($49,800+$719,500)/107,200=$7.18
Ms. Jackson borrowed $42,000 at 8.75% annual simple interest. If exactly 1 year later she was able to repay the loan without penalty, how much interest would she owe
Answers
Answer:
$3675
Explanation:
Interest = principal x interest rate x year
= $42,000 x 0.0875 x 1 = $3675
5 of 100
Harry is looking at buying a building that has a monthly income of
$3,600, a 5% vacancy rate, and annual expenses of $8,640. He is
expecting a 12% return on his investment. How much should he pay for
this building?
Answers
The amount that Harry should pay for the investment is the present value of the net income discounted at the rate of return of 12% is equal to $270,000.
What do you mean by investment?Investment refers to the dedication of an asset to acquire growth in value over a duration of time. In finance, the motive of making an investment is to generate a return from the invested asset.
As per the information,
The vacancy rate is given is 5%
The occupancy rate is 100 - 5= 95%
\(\rm\,The\,Net \,Income = Occupancy \, Rate \times Income - Expenses\\\\ \rm\,The\,Net \,Income = (95\% \times 3,600 \times 12) - 8,640\\\\ \rm\,The\,Net \,Income = \$32400\)
Now, if it is assumed that the income is earned forever, then the present value of the income will be
PV of net income = A/r
A- 32400 , r - 12%
\(\rm\,PV = \dfrac{32400}{0.12}\\\\\\PV = \$270000\)
Hence, The amount that Harry should pay for the investment is the present value of the net income discounted at the rate of return of 12% is equal to $270,000.
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A misconception is a misunderstanding.
O True
False
Answers
The statement ''A misconception is a misunderstanding.'' is True. A misconception refers to a misunderstanding or a mistaken belief about something.
It is a cognitive error where an individual holds an incorrect understanding of a particular concept, idea, or situation. Misconceptions can arise due to various factors such as incomplete information, misinterpretation of information, cultural influences, biases, or a lack of critical thinking. Misconceptions can be found in various domains, including science, history, language, and everyday life. They can persist even in the presence of contradictory evidence or when confronted with accurate information. Correcting misconceptions is important as they can lead to flawed decision-making, misinformation spreading, and hinder personal and intellectual growth.
Addressing misconceptions requires effective communication, education, and the promotion of critical thinking skills. By challenging and correcting misconceptions, individuals can develop a more accurate understanding of the world around them, make informed judgments, and engage in meaningful discussions based on reliable information.
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name two recent kmi/kmv initiatives that carry out by pick n pay
Answers
The two recent kmi/kmv initiatives that carry out by pick n pay are:
Feed the nation Food gardening education project.What is the project about?The project is to feed the nation and it is one that partners with Pick n Pay, together to join their efforts to give an opportunity to Feed The Nation.
Note that Feed The Nation is seen to be a collectively raised amount of money and provided a lot of millions of meals to children and other people who are vulnerable.
Hence, The two recent kmi/kmv initiatives that carry out by pick n pay are:
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Consider a firm redesigning its logistics network. What are the advantages of having a small number of centrally located warehouses? What are the advantages of having a larger number of warehouses closer to the end customers?
Answers
Small centrally located warehouses offer cost efficiency and simplified inventory management, while larger warehouses closer to customers provide faster delivery, better customer service, and cost savings in shipping.
Having a small number of centrally located warehouses offers several advantages in a firm's logistics network:
Cost Efficiency: Centralized warehouses can lead to cost savings in terms of inventory management, transportation, and operational overheads. With fewer warehouses, the firm can benefit from economies of scale in procurement, storage, and distribution.
Simplified Inventory Management: Managing inventory becomes more streamlined when there are fewer warehouses. It allows for better control and visibility over stock levels, reducing the risk of stockouts or overstocking.
Faster Transit Times: With centrally located warehouses, products can be shipped more quickly to various regions since they are closer to major transportation hubs. This reduces lead times and improves overall customer satisfaction.
Improved Coordination: Centralized warehouses facilitate better coordination and synchronization of supply chain activities. It becomes easier to manage inbound and outbound logistics, optimize transportation routes, and consolidate shipments.
On the other hand, having a larger number of warehouses closer to end customers provides the following advantages:
Faster Delivery: Proximity to end customers enables faster order fulfillment and delivery. Products can reach customers more quickly, reducing transit times and improving responsiveness.
Enhanced Customer Service: Local warehouses allow for better customization and personalization of service. They can cater to specific regional preferences, offer faster response times to customer queries, and handle returns or exchanges more efficiently.
Lower Shipping Costs: By locating warehouses closer to customers, transportation costs can be reduced as products travel shorter distances. This can lead to cost savings in shipping expenses.
Flexibility and Redundancy: Having multiple warehouses distributed geographically provides redundancy and flexibility in the supply chain. It mitigates the risk of disruptions, such as natural disasters or transportation issues, as the firm can rely on alternative warehouse locations.
In summary, a small number of centrally located warehouses offer cost efficiency and streamlined inventory management, while a larger number of warehouses closer to end customers provide faster delivery, improved customer service, lower shipping costs, and increased flexibility.
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The information necessary for preparing the December 31, 2021 year-end adjusting entries for Vito’s Pizza Parlor appears below. Vito’s fiscal year-end is December 31.
On July 1, 2021, purchased $12,500 of IBM Corporation bonds at face value. The bonds pay interest twice a year on January 1 and July 1. The annual interest rate is 10%.
Vito’s depreciable equipment has a cost of $26,000, a four-year life, and no salvage value. The equipment was purchased in 2019. The straight-line depreciation method is used.
On November 1, 2021, the bar area was leased to Jack Donaldson for one year. Vito’s received $7,500 representing the first six months’ rent and credited deferred rent revenue.
On April 1, 2021, the company paid $3,000 for a two-year fire and liability insurance policy and debited insurance expense.
On October 1, 2021, the company borrowed $25,000 from a local bank and signed a note. Principal and interest at 10% will be paid on September 30, 2022.
At year-end, there is a $2,050 debit balance in the supplies (asset) account. Only $750 of supplies remain on hand.
Required:
1. Prepare the necessary adjusting journal entries at December 31, 2021.
2. Determine the amount by which net income would be misstated if Vito's failed to record these adjusting entries. (Ignore income tax expense.)
Answers
In accounting/accountancy, adjusting entries are journal entries commonly made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.
How do we prepare the Journal entries?1. Adjusting Journal Entries at December 31, 2021
a. Interest Expense:
Debit: Interest Expense $1,250
Credit: Interest Payable $1,250
b. Depreciation Expense:
Debit: Depreciation Expense $6,500
Credit: Accumulated Depreciation $6,500
c. Deferred Rent Revenue:
Debit: Deferred Rent Revenue $7,500
Credit: Rent Revenue $7,500
d. Insurance Expense:
Debit: Insurance Expense $1,500
Credit: Prepaid Insurance $1,500
e. Interest Payable:
Debit: Interest Payable $2,500
Credit: Interest Expense $2,500
f. Supplies:
Debit: Supplies $1,300
Credit: Supplies Expense $1,300
2. The amount by which net income would be misstated if Vito's failed to record these adjusting entries would be $11,550.
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Keisha Tombert, the bookkeeper for Vaughn Consulting, a political consulting firm, has recently completed a managerial accounting course at her local college. One of the topics covered in the course was the cost of goods manufactured schedule. Keisha wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2020. Supplies used on consulting contracts $1,940 Supplies used in the administrative offices 1,700 Depreciation on equipment used for contract work 910 Depreciation used on administrative office equipment 1,450 Salaries of professionals working on contracts 16,400 Salaries of administrative office personnel 8,690 Janitorial services for professional offices 800 Janitorial services for administrative offices 580 Insurance on contract operations 880 Insurance on administrative operations 930 Utilities for contract operations 2,360 Utilities for administrative offices 1,930 (a) Prepare a schedule of cost of contract services performed (similar to a cost of goods manufactured schedule) for the month.
Answers
Answer:
$23,290.00
Explanation:
Preparation forn a schedule of cost of contract services performed
Supplies used on consulting contracts 1,940.00
Salaries of professionals working on contract 16,400.00
Service Overhead:
Janitorial services for professional offices 800.00
Insurance on contract operations 880.00
Utilities for contract operations 2,360.00
Depreciation on equipment used for contract work 910.00
Total service overhead 4,950.00
(800.00+880.00+2,360.00+910.00)
Cost of Contract Services Provided 23,290.00
(1,940.00+16,400.00+4,950.00)
Administrative expenses:
Supplies used in administrative offices 1,700.00
Depreciation on administrative office equipment 1,450.00
Salaries of administrative office personnel 8,690.00
Janitorial services for administrative offices 580.00
Insurance on administrative operations 930.00
Utilities for administrative offices 1,930.00
TOTAL 15,280
Therefore the schedule of cost of contract services performed will be 23,290.00
A student is graduating from college in six months but will need a loan in the amount of $2,560 for the last semester. The student receives an unsubsidized stafford loan with an interest rate of 6. 8%, compounded monthly. What is the balance of the unsubsidized loan at the time of graduation?.
Answers
The term ECONOMIC refers to, or is related to, the production, distribution, and consumption of goods and services.
What are the three kinds of production?
Basic production systems are classified into three types: batch systems, continuous systems, and project systems. General-purpose equipment and methods are used in the batch system to produce small quantities of output (goods or services) with specifications that vary greatly from batch to batch. The process of creating or manufacturing goods and products from raw materials or components is known as production. In other words, production takes inputs and transforms them into a consumable output - a good or product of value to an end-user or customer.
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Question 10 of 20
When wili the U.S. Armed Forces provide financial aid?
A. Before, during, and after your service
OB. During and after your service
OC. Before and after your service
D. After you have served two years
Answers
The U.S. Armed Forces will provide financial aid during and after your service. The Option D is correct.
When will U.S. Armed Forces provide financial aid?The Forces offer financial aid during and after your service. This support is available to servicemembers throughout their military career and extends into their transition back to civilian life.
During service, the financial assistance may come in the form of various benefits including housing allowances, educational benefits such as the GI Bill and health care coverage. After completing their service, veterans may be eligible for additional financial aid programs like VA home loans, disability benefits etc.
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jones manufacturing has current assets of $26,900, net working capital of 8,200 long-term debt of 21, 500 and total equity of 57,800 what is the equity multiplier?
Answers
Answer:
1.7
Explanation:
The computation of the equity multiplier is shown below:
As we know that
Net working capital = current assets - current liabilities
So,
current liabilities is
= $26,900 - $8,200
= $18,700
And,
Total liabilities = current liabilities + long term debt
= $18,700 + $21,500
= $40,200
Now
Total assets = Total liabilities + Total equity
= $40,200 + $57,800
= $98,000
Now
Equity multiplier is
= Total assets ÷ equity
= $98,000 ÷ 57800
= 1.7
If you contributed the full 6% of your $50,000 salary (the amount your company will match), what would be your monthly contribution to the 401(k)? What would be your employer’s contribution?
Answers
Answer:
Monthly contribution $6,000
Employers contribution $3,000
Explanation:
The employee contributions would be 6% of $50,000
=6/100 x $50,000
=0.06 x $50,000
=$3,000
If the employer matches the employee contribution, the employer will also contribute $3,000
The total employee monthly contribution would be $3000 + $3000= $6000
Employer contribution will $3000
Will give brainliest Please help me and write an outline for my alternate answer at the end of this assignment ( btw a shul is a synagogue)
Answers
Explanation:
Sorry about this but problem are not very clear
If a stock's closing price for the day is 32.47, the stock's price in U.S. dollars would be
Multiple Choice
$32.47.
$3,247.
$32 plus a $.47 commission.
in between a low of $32 and a high of $47.
Answers
Answer:
$32.47
Explanation:
the closing price is the final price a stock is traded at before market close
ABC Testing Prep provides tests preparation courses for the Certified Public Account (CPA) examination. It offers three different prep courses- One-week review, One-month program and Three-month course. The results of a recent CPA exam are provided in an Excel document (Section A). There are also the results of the last three CPA exams (Section B). Use a 0.05 significant level and state the null and alternate hypotheses in each case.
a. Is there a difference between the means of the three courses for the time spent after graduation before taking the CPA Exam?
b. Test whether there is a difference in the population means for the time spent after graduation before taking the CPA exam.
c. Does it matter which course you take depending on the time you take the exam after graduation?
Answers
a. Null Hypothesis: No variance in the means of all three courses is present when evaluating the time period taken after graduation to complete the CPA Exam.
Thde testing of hypothesisAlternate Hypothesis: Notable disparities exist between the means of all three courses concerning the time frame taken after graduation for taking the CPA Exam.
b. Null Hypothesis: There are no disparities observed among population means regarding the amount of time spent after college graduation prior to taking the CPA Exam.
Alternate Hypothesis: Unevenness can be noticed and distinguished amongst population means concerning the period taken after graduating before tackling the CPA Exam.
c. Null Hypothesis: The course chosen has no effect on the amount of time required to finish the CPA Exam following one's education.
Alternate Hypothesis: The course elected considerably impacts the duration taken to accomplish the CPA Exam after graduating school.
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What are some of your strengths areas? Think about the top 2/3 skills you would advertise about yourself, consider what others come to you for advice about.
Answers
Answer:
Some of my strength areas are trustworthiness, creativity and solving problems, leadership and organization, analytical skills, determination, and empathy.
Explanation:
Every person's core strengths or skills should fall into these three main areas: personal, play, and work. Personal skills deal with the fundamental skills that give the background to every activity that a person undertakes. Play skills define the human interaction and relationship with others. Work skills specify one's attitude to work and how a person achieves her goals in the work environment.
Miguel's lab group is conducting an experiment that involves dissolving different amounts of sugar and salt in test tubes. Which safety procedure is the MOSTappropriate for this experiment?
Answers
Answer:
Use a lead apron to protect against radiation.
Explanation:
An example of the effect of globalization on US consumers is what
Answers
Answer:
Decreases the cost of manufacturing
Explanation:
Decreases the cost of manufacturing
Explain the problems a hotel faces in making the following departments profitable: restaurants, bars, and room service
Answers
Answer: A successful strategy is to show guests the restaurants and explain the cuisine before they go to their rooms, which has prompted more guests to dine in the restaurants during their stay...The best way to prevent these occurrances is to have a good control system, which should include people who are paid to use the bar like regular guests, but are really there to check on the bartenders.
Explanation:
Restaurants; hotel guests are not always predictable. Sometimes they will use the hotel restauraunts, and other times they will dine out. A successful strategy is to show guests the restaurants and explain the cuisine before they go to their rooms, which has prompted more guests to dine in the restaurants during their stay.
Bar; Bars is measured by the pour/cost percentage. Post cost is obtained by dividing the cost of depleted inventory by sales over a period of time. Operations with lower pour costs have more sophisticated control systems and a higher-volume catering operation. Some bartenders tend to overpour measures to receive larger tips. The best way to prevent these occurrances is to have a good control system, which should include people who are paid to use the bar like regular guests, but are really there to check on the bartenders.
which option is best described as a complementary good for trucks?
A. truck blogs
B. Truck Fuel
C. Truck factories
D. Truck regulations
Answers
The option that is best described as a complementary good for trucks is A. truck blogs.
What is complementary good ?A good that adds value to another good or service is said to be complimentary. To put it another way, they are two items that the client uses in tandem with one another. For instance, cereal and milk or a DVD and a DVD player.
A complementary good in economics is one whose appeal rises along with the appeal of its counterpart. Technically speaking, it exhibits a negative cross elasticity of demand, meaning that when the price of one commodity lowers, demand for it also rises.
Therefore, option A is correct.
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A student is setting up an experiment. The student has twenty identical young plants and will try to answer this question: How does the amount of water given to these plants each day affect how tall the plant will grow? Identify one condition, other than identical young plants, that should be held constant during the experiment.
Answers
You are in your 40s. You have paid for your home and make a lot of money at your job and have no children. You have inherited $100,000 and want to invest the money so you can buy a second home in the mountains in 10 years.
What is the risk?
High, Meduim, low
Answers
The investment method picked will determine the level of risk that comes with using the $100,000 inheritance to purchase a second property in the mountains in ten years.
Explain the mechanism of risk.Generally speaking, making investments in stocks, mutual funds, or real estate might yield greater profits but also entail greater risk than holding the money in a certificate of deposit or a low-risk savings account. A high-risk investing plan might not produce the expected returns, particularly over a short period of time, and market volatility might lead to a loss of wealth. In addition, variables including changes in real estate valuations, interest rates, and regional economic situations might have an impact on real estate investments. Also, there is always a chance of unanticipated occurrences, such a job loss or a medical emergency, which may have an impact on a person's financial condition and capacity to continue investing in order to achieve their objective.
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nike develops its merchandise, produces it to ensure consistent quality, and invests in a marketing program to establish an appealing brand image. nike is an example of a brand.
Answers
Nike is an excellent example of a brand. A brand is a name, term, design, symbol, or other feature that identifies and differentiates a product or service from those of other companies.
Nike is a brand that has become well-known worldwide, representing a specific set of qualities and attributes that are associated with its products.Nike has invested heavily in developing and producing high-quality merchandise that meets the needs of its target customers. The company uses advanced technology and materials to produce shoes, apparel, and accessories that are both comfortable and functional. Nike has established a reputation for quality and reliability, which has helped to build a loyal customer base.In addition to producing high-quality products, Nike has invested in marketing programs to establish an appealing brand image.
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You're doing a monthly bank reconciliation and have the following information:
Current book balance: $19,250
Balance per bank statement: $15,000
Outstanding checks: $2,000
Bank fees: $250
Deposits in transit: $6,000
What is the reconciled cash amount?
A) 13,250
B) 17,000
C) 19,000
D) 20,750
E) 21,250
Answers
The reconciled cash amount is $19,000.
Bank reconciliation statement:Current book balance $19,250
Less: Bank fee ($250)
Reconciled cash amounts $19,000
Balance per bank statements $15,000
Add:Deposit in transit $6,000
Less:Outstanding Checks ($2,000)
Reconciled Cash Balance $19,000
Therefore we can conclude that The reconciled cash amount is $19,000.
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For a report focus ob the needs of typical business readers today, it needs to be trustworthy, contain decision-related, and?
A. Use complicated language to impress the readers
B. Require a password to open the report document
C. Make it easy for readers to get the point quickly
D. Put the summary at the end of the discussion
Answers
Answer:
C
Explanation:
Business readers do not have a lot of time to read. So complicated language, password and summary at the end are not helpful. The right answer is C. Make it easy for readers to get the point quickly.
Answer:
i did it
Explanation:
What is an example of the consideration of visual merchandising?
A.
online ads using negative space to emphasize text
B.
social media videos with contrasting, bright images
C.
sponsored search engine results being shown in bold
D.
kids’ cereal boxes shelved about four feet high
Answers
An example of the consideration of visual merchandising can be seen in the way that kids’ cereal boxes are shelved in grocery stores. This is an example of how visual merchandising can be used to create an emotional connection with customers and influence their purchasing decisions. The correct option is D.
Visual merchandising refers to the visual elements that are used to promote a product or service. This includes the design of the product packaging, displays, advertising, and other marketing materials. Visual merchandising is important because it can help to create a strong brand identity, increase customer engagement, and ultimately drive sales.
Other examples of visual merchandising might include online ads that use negative space to emphasize text, social media videos with contrasting, bright images, and sponsored search engine results that are shown in bold.
All of these strategies are designed to capture the attention of the customer and encourage them to take action, whether it's clicking on an ad or making a purchase in-store. By carefully considering the visual elements of their marketing strategy, businesses can create a powerful and effective message that resonates with their target audience. The correct option is D.
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Reese's Resources faces a smooth annual demand for cash of $15 million, incurs transaction costs of $125 every time they sell marketable securities, and can earn 4.5 percent on their marketable securities. What will be their optimal cash replenishment level?
Answers
The optimal cash replenishment level is $1.5 million.
Reese's Resources faces a smooth annual demand for cash of $15 million, incurs transaction costs of $125 every time they sell marketable securities, and can earn 4.5 percent on their marketable securities.
Optimal cash replenishment level:To find the optimal cash replenishment level, we can use the Miller-Orr model.
Miller-Orr model is used to determine the optimal cash balance of a company to minimize the cost associated with holding or having a shortage of cash.
It is designed to help companies determine when they should transfer cash in and out of their account to keep the account balance close to a specified target.
The Miller-Orr model considers two costs: the opportunity cost of holding cash and the transaction cost of transferring money from one account to another.
Lower limit = 3 × T × σ / 4 × C = 3 × 10 × 0.5 / 4 × 125 = $0.75 millionUpper limit = 3 × Lower Limit = 3 × 0.75 = $2.25 millionThe optimal cash balance is the average of the upper limit and the lower limit, which is ($0.75 million + $2.25 million) / 2 = $1.5 million.
The company should try to keep their cash balance around $1.5 million to minimize the cost associated with holding or having a shortage of cash.
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the purchasing department multiple choice should obtain competitive bids from vendors. should inspect incoming goods and forward them to the receiving department. all of the choices are correct. should inspect vendor invoices and forward them to the accounting department.
Answers
The purchasing department Should obtain competitive bids from vendors. Option A.
Auditors will most likely obtain reports and supplier invoices, underscoring a sample of unrecognized cash payments until the end of the year. Delivering order information to recipients facilitates blind receipt.
Therefore, the recipient cannot know the quantity ordered and must Independently determine and record the number of goods or services received. A credit note is a commercial document issued by a seller to a buyer. A credit memo serves as the source document for the sales complaint journal. In other words, credit is proof that sales have fallen.
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Help please! this is a business class! I am using plato <3
Answers
He can adjust the salary in order to reduce costs.
Which of the following is true of the master budget of a company?
a. It is a moving 12-month budget.
b. It corresponds to the calendar year of a company.
c. It is a comprehensive financial plan for an organization as a whole.
d. It is always prepared for a 5-year period.
Answers
Answer:
C, it's a plan for the entire organization.