Answer:
Explanation:
Journal Entries
Event Account Title and Explanation Debit Credit
1 Inventory (or merchandise) $ 55,000
Accounts Payable $ 55,000
To record the purchase on account
2 Accounts Payable $ 8,500
Inventory (or merchandise) $ 8,500
To record return the merchandise
3. Cash ( or Accounts receivable) $69,600
Sales Revenue $ 69,600
To record sales revenue
4. Cost of goods sold $43,000
Inventory (or merchandise inventory) $43,000
To record cost of goods sold
5. Sales return and allowances $7,300
Cash (or Accounts receivable) $7,300
To record the sales return
6. Inventory (or merchandise Inventory) $ 4,500
Cost of goods sold $4,500
To record the reversal of COGS (Cost of goods sold)
7. Sales return and allowances $ 9510
Allowances for sales return $9510
To record the allowances for the estimated return
8. Inventory - Estimated Return $5,800
Cost of goods $5,800
To record the allowances for the estimated -
return of the cost of goods sold
You are a loan officer for National Bank. You have a loan application submitted by a company for $50,000. This company just got a prior
loan for $45,000 and has not made the first payment. This gives you an uneasy feeling as you examine a loan application from ABC, Co.
The application included the following financial statements.
ABC, Co.
Income
Statement
For the Year Ended December 31, 2018
Sales revenue
Cost of goods sold
Depreciation expense
Remaining expenses
Net income
$100,000
(50,000)
(5,000)
(25.000)
$20,000
ABC, Co.
Balance Sheet
December 31, 2018
Cash
Accounts receivable
Inventory
Depreciable asset
Accumulated depreciation
$5,000
25,000
20,000
$55,000
(5,000)
Total $100,000
(SECOND HALF OF THE QUESTION IS IN THE PHOTO
Answer:
5000
Explanation:
I think thats right
Compared to the recommended percentages that should be allocated to transportation, 18% is _____.
A.too low
B.in the middle
C.the max
D.too high
Compared to the recommended percentages that should be allocated to transportation, 18% is too low. The correct option is A.
What is allocation in work?Allocation targets are logical groupings of users or work queues that can be assigned tasks and notifications. This enables the workflow administrator to assign tasks and notifications to a diverse group of users within the organization.
The freight expenditure incurred by the consumer to have purchased goods delivered is known as transportation-in. Costs such as freight insurance and customs duties can be included in this category.
Thus, the ideal selection is option A.
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Crane Company, organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2020.
1/2/20 Purchased patent (9-year life) $387,900
4/1/20 Purchase goodwill (indefinite life) 341,000
7/1/20 Purchased franchise with 10-year life; expiration date 7/1/30 421,000
8/1/20 Payment of copyright (5-year life) 145,200
9/1/20 Research and development costs 211,000
$1,506,100
Required:
Prepare the necessary entry to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles.
Answer:
Date Account title Debit Credit
12/31/2020 Patent $387,900
Goodwill $341,000
Franchise $421,000
Copyright $145,200
Research and Devel. Expense $211,000
Intangible Assets $1,506,100
The individual intangible asset accounts will be debited as shown above. Research and Development costs are not to be capitalized however according to U.S. GAAP and so will go to expenses.
I'm not understanding the process for this question on my hw
The values of the real GDP are accurate.
The country's real GDP per capita for 2017 is $1100 and $1126 for 2018.
The growth rate of nominal GDP from 2017 to 2018 is 9.09%
The growth rate of GDP deflator from 2017 to 2018 is 6%
The growth rate of population from 2017 to 2018 is 5%
What is the real GDP per capita and the growth rates?Gross domestic product is the sum of all the goods and services that a country produces in a given period. Real GDP is the GDP of a country that has been adjusted for inflation.
Real GDP = nominal GDP / GDP deflator
Real GDP in 2017 = $1,100,000 / 1 = $1,100,000
Real GDP in 2018 = $1,200,00 / 1.06 = $1,132,075
Real GDP per capita is the Real GDP divided by the population of a country.
Real GDP per capita = real GDP / population
Real GDP per capita for 2017 = $1,100,000 / 1000 = $1100
Real GDP per capita for 2018 = $1,132,075 / 1005 = $1126
Growth rate of nominal GDP from 2017 to 2018 = (1,200,000 / 1,100,000) - 1 = 9.09%
Growth rate of GDP deflator from 2017 to 2018 = (106 / 100) - 1 = 6%
Growth rate of population from 2017 to 2018 = (1005 / 1000) - 1 = 5%
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Marcie goes to the salon and has a pedicure and a manicure. What has Marcie purchased from the salon?
A.) A good
B.) A good and a service
C.) Neither
D.) A service
The Plan-Do-Check-Adjust problem-solving technique is useful when:
The Plan-Do-Check-Adjust, or the PDCA, problem-solving technique is useful when there is an improvement in a new project or implementation of a change.
What is the significance of PDCA technique?A PDCA technique can be referred to or considered as the management process under which a manager develops a plan, acts according to the plan, checks the results or outcomes of the act, and finally makes the required adjustments in the plan in order to achieve organizational goals.
Therefore, the significance regarding the PDCA technique has been aforementioned.
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1. What is the difference between pricing objectives and pricing constraints?
Answer: pricing constraints are factors that limit the range of price a firm May set,such as newness of the product (alternative) , demand for the product class, product, and brand (alternative), cost of producing in marketing the product (alternative), competitors prices.
Pricing objectives-include maximizing profit, increasing sales volume, matching competitors prices,each pricing requires a different price-setting strategy in order to successfully achieve.
Explanation:
Janae has created a table of her company's revenue data. The company sells its products in four cities. Janae's manager told her to create a new
visual showing the share of revenue from each city. Complete the following sentences.
Janae should choose a
to show each city's contribution to the company's total revenue. This type of visual is especially
effective because it allows her to show the revenue from each city as a
of the company's total revenue.
Reset
Next? Does anyone know the answer
Answer:
First one is "Pie Chart"
Second one is "Percentage"
Explanation:
Enjoy
The following are selected transactions of the company RED RIBBON COMPANY.
April
1 Paid rent for the month, P10000.
2 The owner, Sara Marcos made additional cash Investment of, P200000.
3 Purchase additional office supplies on account, P12,000
5 Purchase office equipment on account, P15000.
8 Fees earned and billed to customers for the month, P83, 650
10 Paid advertising expenses, P20,000
Received cash from customers on account, P17500 18 Received cash from customer for services rendered, P25780
20 Paid creditor on account, 17000
21 Returned P1000 worth of office supplies that were defected, purchased April 15
23 Withdraw cash for personal use, P10000
27 Paid 2000 for the repair of office equipment
29 Paid telephone bills, P12000
30 Paid salaries of employees, P25000
30 Received a promissory note for service rendered, P20000
The liabilities owed by Red Ribbon Company, for the month of April can be found to be
How to find the liabilities owed ?To find the total liabilities owed by Red Ribbon Company for the month of April, you should sum up the different liabilities incurred in that month.
The total liabilities to Red Ribbon Company for April is therefore:
= Office supplies on account + Office equipment on account - Amount paid to creditor - office supplies returned to creditor
= 12, 000 + 15, 000 - 17, 000 - 1, 000
= P 9, 000
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The rest of the question is:
What is the ending value of liabilities to Red Ribbon Company for the month of April?
You can earn 3% interest on a CD and 1.25% interest on a savings account.
How much more interest will the CD earn for one year if you make a deposit of
$1,650?
Financial Lit, please help!!
Answer:
The CD will earn $49.50 more interest than the savings account for one year if you make a deposit of $1,650.
The 15-year average return for the S&P 500 from January 1973 to December 2016 (29 separate 15 year periods) was as high as a 20% average annual return and as low as a 3.7% average annual return. Additionally, the average dividend yield for the S&P is 4.11% and the average annual dividend growth rate is 6.11%.
Using this information, please compare the investment in the 5% 15-year corporate bond with a $100,000 investment in a stock with a 3.7% dividend yield (10 percent less than the S&P 500 average yield) and a 3% dividend growth rate (50 percent of the S&P 500 dividend growth rate).
The annual investment returns are as follows:
Year 1 (13.40%) Year 2 (23.37%) Year 3 26.38% Year 4 8.99%
Year 5 3.00% Year 6 13.62% Year 7 3.53% Year 8 (38.49%)
Year 9 23.45% Year 10 12.78% Year 11 0.00 Year 12 13.41%
Year 13 29.60% Year 14 11.39% Year 15 (0.73%)
The bond interest payment of 5 percent is paid annually and not reinvested. To compare accurately with the bond investment, the stock dividend will not be reinvested, but paid annually as well.
Please calculate the value of the stock account at the end of each year and the dividend income from the stock on an annual basis.
Once you have performed the calculations, please let me know if you prefer to invest in a 5% corporate bond for 15 years or the stock and why.
What is the value of the stock after year 2? Year 8? Year 11? When does the annual dividend income of the stock exceed the annual interest income of the bond?
1. The value of the stock account after Year 2 is $155,401.626.
2. The value of the stock account after Year 8 is $96,110.0674.
3. The value of the stock account after Year 11 is $96,110.0674.
4. The annual dividend income of the stock exceeds the annual interest income of the bond at the end of Year 15.
Bond interest rate: 5%
Stock dividend yield: 3.7% (10% less than S&P 500 average yield)
Stock dividend growth rate: 3% (50% of S&P 500 dividend growth rate)
We'll assume an initial investment of $100,000.
Year 1:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $100,000 + ($100,000 * 0.2337) = $123,370
1. Year 2:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $123,370 + ($123,370 * 0.2638) = $155,401.626
2. Year 8:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $155,401.626 + ($155,401.626 * (-0.3849)) = $96,110.0674
3. Year 11:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $96,110.0674 + ($96,110.0674 * 0) = $96,110.0674
4. At the end of Year 15, the dividend income of the stock exceeds the interest income of the bond.
Stock dividend income: $100,000 * 0.037 = $3,700
Bond interest income: $100,000 * 0.05 = $5,000
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Consider a large purchase such as a car or a home. In this buying scenario, do you think the closing of the sale is more stressful for the buyer or the salesperson? Explain.
ASAP PLEASE
Answer: I think it is more difficult for the salesperson.
Explanation: The person who buys will always have different companies or agencies that will help him find options, so he will always have to choose from but the salesperson has the pressure that he needs to sell that car or house since that is part of his job. Selling means generating money and due to the great demand of companies offering the service or product, it is important to stand out and be able to stand out in order to obtain the sale.
I will give brainliest and ratings if you get this correct
3.1 The equilibrium price and quantity for City 1 are 75 and 25, respectively and the total profit for the monopoly is 3775.
3.2 City 2 has a lower price elasticity of demand than City 1.
How to calculate the value3.1. To find the equilibrium price and quantity for each city, we need to equate the demand curve with the marginal cost curve. For City 1, we have:
P₁ = 100-Q = MC = 25
Solving for Q, we get:
Q₁ = 25
Plugging this value of Q into the demand curve for City 1, we get:
P₁ = 100-25 = 75
Therefore, the equilibrium price and quantity for City 1 are 75 and 25, respectively.
We can do the same thing for City 2 to find that the equilibrium price and quantity are 95 and 20, respectively.
To find the profit for each city, we can use the following formula:
Profit = (Price - MC) * Quantity
For City 1, we have:
Profit₁ = (75 - 25) * 25 = 1875
For City 2, we have:
Profit₂ = (95 - 25) * 20 = 1900
Therefore, the total profit for the monopoly is 3775.
3.2. To find the price elasticity of demand for each city, we can use the following formula:
Ed = -(ΔQ/Q)/(ΔP/P)
For City 1, we have:
Ed₁ = -(ΔQ₁/Q₁)/(ΔP₁/P₁) = -(0/25)/(25/75) = -1
For City 2, we have:
Ed₂ = -(ΔQ₂/Q₂)/(ΔP₂/P₂) = -(0/20)/(95/120) = -2
Therefore, City 2 has a lower price elasticity of demand than City 1.
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Question 5
From which of the following taxes does the federal government get most of their tax revenue?
A Corporate tax
B) Sales tax
Tariffs
Income tax
Answer:
B. $3,500
Explanation:
The form of tax from which the federal government get most of their tax revenue is the Income tax.
Option D is correct.
What is meant by taxes?Taxes are the financial source of the government through which it gets most of their revenue. It could be direct or indirect in nature.
The income taxes are one of a kind of taxes which are paid by the taxpayers in accordance with the slab rates applicable on their respective taxable incomes. It has to be paid on yearly basis at a specified period of time and if delayed, then the penalty has also been required to be paid.
Therefore, the income taxes are the one which provides maximum revenue to the federal government.
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The three models of corporate Governance and which one is the best
Three models of corporate governance models across the globe are distinguished as Anglo-american model, the German model and the Jampanese model.
why do you think isd process is a useful model. give reasons for your answer
Answer:
IDrk...
Explanation:
ISD can be thought of as a roadmap that helps to ensure the learners and their organization achieve their learning and performance goals through formal, nonformal, and informal environments.
A brand promise is the overlap between what a company does best and what customers _______. Fill in the blank
The brand promise is the overlap between what a company does best and what customers expect from them. It represents the unique value proposition that a company offers to its customers, which helps to build trust and loyalty with them.
A brand promise is the statement or commitment made by a company to its customers, which reflects what the company does best and what customers expect from them. It is the foundation of the brand and helps to build trust and loyalty with customers. The brand promise represents the unique value proposition that a company offers to its customers, which differentiates it from its competitors. The blank space in the question refers to what customers want or need from the company. Customers expect companies to deliver on their promises, provide high-quality products or services, and create positive experiences that meet their expectations. Therefore, the brand promise should align with the needs, wants, and expectations of the target audience. To create a strong brand promise, companies need to understand their customers' needs and wants, and also assess their strengths and weaknesses. By doing so, they can develop a promise that meets customer expectations and aligns with their core competencies. This will create a unique selling proposition that will differentiate them from competitors and build long-term relationships with customers. In summary, the brand promise is the overlap between what a company does best and what customers expect from them. It represents the unique value proposition that a company offers to its customers, which helps to build trust and loyalty with them. By creating a strong brand promise, companies can differentiate themselves from competitors and build long-term relationships with their customers.
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When the bond sells at par, the implicit €/$ exchange rate at maturity of a Euro/U.S. dollar dual currency bond that pays $651.25 at maturity per €1,000, is:________ A) €1.54/$1.00. B) €1.22/$1.00. C) €1.79/$1.00. D) €1/$1.00.
Answer:
€1.54/$1.00
Explanation:
When the bond sells at par, the implicit €/$ exchange rate pays €651.25 at maturity per €1000
651.25/1000= 1/x
Cross multiply
651.25x = 1000
x= 1000/651.25
x= 1.54
Hence the implicit exchange rate is €1.54/$1.00
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby’s sold the Edgar Degas bronze sculpture Petite Danseuse de Quartorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500. What was his annual rate of return on this sculpture?
Answer:
Although appealing to more refined tastes, art as a collectible has not always performed so profitably. During 2003, Sotheby’s sold the Edgar Degas bronze sculpture Petite Danseuse de Quatorze Ans at auction for a price of $10,311,500. Unfortunately for the previous owner, he had purchased it in 1999 at a price of $12,377,500.
Explanation:
domestic policy that uses funding from general tax revenues to administer programs that provide benefits to certain businesses, groups, or individuals is known as _____.
Domestic policy that uses funding from general tax revenue to administer programs that provide benefits to certain businesses, groups, or individuals is known as fiscal policy.
What is fiscal policy?A fiscal policy is one in which the government use taxation, public expenditure, and public borrowing as tools to accomplish specific economic policy goals. In a nutshell, it is the practise of using taxes and expenditure by the government to generate sustainable growth. For instance, governments can decrease taxes and increase spending to stimulate the economy if necessary; normally, they spend on social programmes and infrastructure projects that generate income and jobs. Or, if the economy is strong, a government may decide to cut spending while raising taxes. Fiscal policy is the use of government revenue collection and expenditure to affect a nation's economy in economics and political science.
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. Explain the role of money in specialisation and division of labour
Answer:Money plays a crucial role in the process of specialization and division of labor. As an economy grows, the division of labor becomes more complex, and people begin to specialize in specific skills and trades. Specialization and division of labor increase productivity and efficiency, which leads to economic growth. Money facilitates the exchange of goods and services between people who have specialized in different areas.When people specialize in specific skills or trades, they produce goods or services that are unique and valuable. Money allows them to exchange these goods and services with other people who have specialized in different areas. This exchange of goods and services is made possible by the use of money, which serves as a medium of exchange. Without money, people would have to rely on bartering, which would be difficult and inefficient.Moreover, money encourages further specialization and division of labor. When people are able to earn money by specializing in a particular skill or trade, they are more likely to continue doing so. This creates a positive feedback loop, leading to increased specialization, higher productivity, and economic growth.In summary, money plays a critical role in the process of specialization and division of labor by facilitating the exchange of goods and services between people who have specialized in different areas. Money encourages further specialization and division of labor, leading to higher productivity, efficiency, and economic growth.
Explanation:
Ken borrowed $6,000 for 4 years at a rate of 7% simple interest per year. How much interest will ken have to pay after paying back the borrowed amount?.
Issues with interest. Ann put $12,000 into two different bank accounts. One of the accounts offers 6% yearly interest, while the other offers 5%.
What is the definition of "interest"?
A feeling that is associated with or draws attention to a certain object or person: A worry-inducing object or person is referred to as a concern. a fascinating quality in something or someone.
Interest, to put it as simply as possible, is the price of borrowing money. It's the amount you owe your lender from a credit card or loan balance. However, there are other ways to get interest paid to you; the most common ones are certificates of deposit and savings accounts.
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Answer:
The answer would be B, $1,680
Step-by-step explanation:
So first of all you want to start by finding what P, r and t would be.
P = Principal amount ($$)
r = interest rate (%)
t = time
Once I found all of those I put them into the equation (l = Prt) and solved. That's how I came up with $1,680. Check out the screenshot I have provided for all my work! :)
Have a great day!
Which of the following is likely to increase the value of a country's currency?
Higher interest rates in a country can increase the value of that country's currency relative to nations offering lower interest rates. Political and economic stability and the demand for a country's goods and services are also prime factors in currency valuation.
PLEASE HELP!!! I need to come up with a unique business that would be convenient in a high school. It can be one that sells food, drinks, etc
Account no. Account Description
101 Cash at bank
102 Accounts receivable
110 Office supplies
120 Office equipment and furniture
130 Motor vehicles (s)
201 Accounts payable
210 Bank loan
301 Share capital
401 Revenue
510 Rent expense
520 Electricity expense
530 Advertising expense (s)
540 Bank charges (s)
550 Interest expense (s)
560 Wages expense
Prepare journal entries for the following
30/03-Entered into a contract for delivery of electric vehicle, at a cost of $20000 which is to be used for the business. The vehicle will be delivered in 2 weeks’ time. No cash payments have yet been made in relation to the contract.
30/3-Invoice received from the local nurseries association for advertising of $1,300. The invoice was paid by transfer from the business bank account
A bank Account Description is a type of financial account that is kept by a bank or other financial organisation and is used to record financial transactions between the bank and its clients.
What are the steps to opening a bank account?To open an account, you must select a bank and give that bank the required documentation, such as identity and proof of address. Typically, in order to qualify, you must be at least 18 years old. To avoid fees, you may also need to fill the account or maintain a minimum level.
What is the account no?When you open a bank account, you are given a specific set of digits called a bank account number. Such numbers will be assigned by financial organisations to every account you have.
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Which financial statement provides information about a point in time
Answer:
Explanation:
Volatile price changes, technological changes, and government intervention are what type of risks?
Volatile price changes, technological changes, and government intervention are external risks that can impact a company's operations and performance.
What are Volatile price changesVolatile price changes refer to fluctuations in input or product prices, which can affect profitability and cost structure. Technological changes can introduce advancements or disrupt an industry, requiring companies to adapt to avoid becoming obsolete.
Government intervention, through regulatory changes or policies, can create uncertainties and challenges for companies, affecting operations, costs, and market access.
To mitigate these risks, companies should implement risk management strategies such as diversification, contingency planning, staying informed about market trends, investing in R&D, and engaging with government stakeholders.
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Which is a commodity someone might invest in?
a) a mutual fund
b) natural resources
c) government bonds
d) a certificate of deposit
Answer:
b) natural resources
Explanation:
Natural resources refer to valuable materials found beneath, above, and on the earth's surface. They are naturally occurring, meaning no human effort is required in producing them. Natural resources make a good source of wealth. Examples of natural resources are land, mineral, oils and gas, forests, water, sunlight, wind, and many others.
Anyone with access to natural resources can invest to make them marketable products. Extraction of oil and refining is an example of investing in natural resources. Processing of trees to wood, use of solar to generate power are other examples.
Answer B) natural resources.
Explanation:
Hope this helps! :)
purchases a wellpoint pump connected to a skid-mounted diesel engine for $14,000. Its market value for salvage purposes decrease by 30 percent each year. When installed on a construction job, a wellpoint system operates virtually 24/7, and operating and maintenance costs will be $3,500 the first year, increasing by $600 each year thereafter. What is the optimum replacement interval if MARR before taxis15%
Replace the pump at the end of year 3 to maximize the net present value of the cash flows associated with the pump.
Describe optimum replacement interval?Optimum replacement interval refers to the point in time at which it becomes most economically feasible to replace an asset due to factors such as obsolescence, wear and tear, or declining performance. It is the point at which the present value of the cost of owning and maintaining the existing asset is equal to the present value of the cost of replacing it with a new asset.
To find the optimum replacement interval, we need to determine the year in which the present worth of the cash flows associated with keeping the pump is equal to the present worth of the cash flows associated with replacing the pump. We can calculate the present worth of each alternative using the MARR of 15%.
Let's assume that the wellpoint pump has a useful life of 5 years.
Present worth of keeping the pump:
PW(keep) = -14,000 - 3,500(P/A,15%,1) - 4,100(P/A,15%,2) - 4,900(P/A,15%,3) - 3,430(P/A,15%,4) - 2,401(P/A,15%,5)
PW(keep) = -14,000 - 3,500(0.8696) - 4,100(0.7561) - 4,900(0.6575) - 3,430(0.5718) - 2,401(0.4972)
PW(keep) = -14,000 - 3,042.32 - 3,105.96 - 3,218.50 - 1,960.97 - 1,194.43
PW(keep) = -26,522.18
Present worth of replacing the pump:
PW(replace) = -20,000 - 600(P/A,15%,1) - 900(P/A,15%,2) - 1,215(P/A,15%,3) - 1,457.25(P/A,15%,4)
PW(replace) = -20,000 - 600(0.8696) - 900(0.7561) - 1,215(0.6575) - 1,457.25(0.5718)
PW(replace) = -20,000 - 521.76 - 680.49 - 798.26 - 833.34
PW(replace) = -22,833.85
Therefore, the present worth of keeping the pump is lower than the present worth of replacing the pump. We should replace the pump at the end of year 3 to maximize the net present value of the cash flows associated with the pump.
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Suppose a less developed country is having difficulty making payments on its foreign debts. What option does this nation have?
Targ
It can ask its lenders for more loans in exchange for accepting a foreign portfolio investment from the World Bank.
It can ask its lenders to forego the payments until the economy of the debtor nation is stronger.
It can ask its lenders to forgive the loans in exchange for accepting temporary control by the lender nation.
It can ask its lenders for debt rescheduling in exchange for accepting a stabilization program from the IMF.
Answer:
it can ask its lenders for dept resceduling in exchange for accepting a stabilization program from the IMF
Explanation:
gradpoint