The scenario involves the implementation of automated frozen yogurt dispensing equipment in Dingleberry's convenience stores that involves a financial transaction that requires careful planning and execution.
To do so, Dingleberry has engaged FroMacCo (FMC) to design, manufacture, and sell the necessary equipment for automated food dispensing and accounting. The total cost for this engagement is $1,400,000, which includes the development and installation of the equipment, as well as staff training.
FroMacCo's standard pricing for such engagements includes $1,200,000 for the equipment, $200,000 for training (which is not sold separately), and $600,000 for two years of tech support. In this case, Dingleberry has agreed to pay $600,000 on contract signing (non-refundable), $200,000 when training of Dingleberry staff is completed (one month before installation), and $600,000 when the system is installed.
Based on the given information, the following journal entries can be made:
On contract signing:
Debit - Development Cost $600,000Credit - Cash $600,000When training of Dingleberry staff is completed:
Debit - Development Cost $200,000Credit - Cash $200,000When the system is installed:
Debit - Equipment $1,200,000Debit - Development Cost $600,000Credit - Cash $1,400,000The development costs are capitalized and added to the cost of the automated frozen yogurt dispensing equipment since they are directly related to the creation of the equipment. The total cost of the equipment and development is:
$1,800,000 ($1,200,000 + $600,000).The $600,000 payment made on contract signing is non-refundable and is recognized as an expense in the period it is incurred. The $200,000 payment for training is also recognized as an expense in the period it is incurred.
The two years of tech support will be expensed over the two-year period as the service is provided.
Overall, The initial payment of $1,200,000 for the equipment and $200,000 for training would be recognized as expenses while the development costs would be capitalized and added to the cost of the equipment, with the final payment of $600,000 being recorded as a credit to cash and a debit to both equipment and development costs.
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Standards that represent levels of operation that can be attained with reasonable effort are called.
Answer:
normal standards
Standards that represent levels of operation that can be attained with reasonable effort; sometimes called normal standards.
develop a research instrument that can be used to assess customers buying behavior of any product of your choice
Develop market research, a research tool that can be used to evaluate the buying behavior of selected products. A customer is a natural or legal person who purchases goods or services from another company.
Customers are important because they generate income. Without them, the business cannot continue to exist. A customer's demand is a demand that motivates the customer to purchase a product or service. A requirement can be known (ie, uttered by the customer) or unknown and is the final factor in determining which solution the customer will purchase.
The definition of a customer is a person who purchases goods or services in a store, restaurant, or another retail outlet. An example of a customer is someone who goes to an electronics store and buys a TV. (informal) A person, especially a person, begins some kind of interaction with another. A consumer is an individual or group of end users of a product or service. Here are some examples: A person who pays a barber to cut and style their hair. A company that buys printers for businesses.
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may an accountant accept an engagement to compile or review the financial statements of a not-for-profit entity if the accountant is unfamiliar with the specialized industry accounting principles but plans to obtain the required level of knowledge before compiling or reviewing the financial statements?
An entity engaged an accountant to review its fs in accordance with statements on standards for accounting and review services.
How does an accountant work?The Bureau of Labor Statistics states that, generally speaking, accountants compile, analyze, evaluate, and create financial data for their department or organization as a whole (BLS). 1. They deal with financial records to make sure that corporate processes are legal, effective, and compliant.
Do accountants earn a good living?In conclusion, accounting profession wages can range from $40,000 to $120,000 per year based on education, certifications, firm location, and notably years of experience. The average accounting career salary is $70,000 to $130,000 per year, with a 6% job growth rate by the year 2030.
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The Free enterprise system is:
A: Supply & Demand
B: Designed to protect consumers' best interests
C. Requires both sides of the story
D. Free of competition
Answer:
Free enterprise is the freedom of individuals and businesses to regulation. It enables individuals and businesses to create, produce, are able and willing, enterprising people produce goods and services for produce and sell goods and services. In this system, no one forces people they believe to be best for them.
WILL GIVE BRAINLIEST
The preparation for discharging a patient from a medical facility is best begun _____.
A. when the individual is informed of discharge
B. 24 hours before discharge
C. at no particular time
D. at admittance to the facility
Answer:
D. at admittance to the facility
Explanation:
interview any business owner on impact of crime
Answer:
Businesses that had been affected by crime were found to be 17 to 22 percent less likely to increase employment. Almost half the businesses said that fear of crime among their clients or customers had had a negative impact on their businesses. This figure was particularly high in townships and inner city locations.
Explanation:
I hope this helps you sorry if it doesn’t
The cruise ship sector is one branch that still relies on retail travel agents.
O False
O True
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Who are the biggest companies in the cruise retail Industry?
Jun 29, 2018
As the cruise industry continues to expand rapidly around the world the growth in the onboard cruise retail market is significant. This year just about every major cruise line will have a new ship with wide public and commercial spaces dedicated for retail shops. The biggest companies operating in cruise retail sector are Starboard Cruise Services, Harding Retail, and Dufry Ltd.
With retail shops operating on 96 cruise ships, Starboard Cruise Services has firmly established as the largest and dominant cruise retailer in the world with the biggest share in the cruise retail market.
This year Starboard Cruise Services, which is part of LVMH Moët Hennessy Louis Vuitton, celebrated its 60th anniversary with the debut of its newest innovative retail concepts of exclusive shops and brands on the industry's newest and largest cruise ships, including Carnival Horizon, Royal Caribbean's Symphony of the Seas and Celebrity Edge. Other newly executed retail contracts have been signed with Norwegian Cruise Line to operate retail on three of their newer ships and a multi-year contract with Costa Cruises including the new Costa Smeralda launching in 2019 and Royal Caribbean’s Spectrum of the Seas.
Answer:
true
Explanation:
edge 2021
What factor reflects the 'cost of money'?
The 'cost of money' is reflected in the
O interest rates
inflation rates
O variable rates
O fixed rates
Answer:
Production opportunities, time preferences for consumption, risk, inflation. Explanation: The cost of money is the interest rate that lenders charge borrowers, and is determined by the supply and demand of funds.
What is the most effective way to for a loan officer to process a loan?
A) hand the application off to underwriting
B) direct the borrower to the IT department to get set up for an automatic repayment plan
C )direct the potential borrower to a customer service representative to answer
any difficult questions
D) utilize communication skills to walk a potential borrower through every step of the process
The most effective way for a loan officer to process a loan is utilize communication skills to walk a potential borrower through every step of the process.So correct answer is D
The most effective way for a loan officer to process a loan would be to utilize communication skills to walk a potential borrower through every step of the process. This approach allows the loan officer to establish a personal connection with the borrower, answer any questions or concerns they may have, and ensure that they have a clear understanding of the loan terms and conditions.By taking the time to guide the borrower through the loan process, the loan officer can help the borrower feel more comfortable and confident in their decision to take out a loan. This can help to reduce the likelihood of delays or complications during the underwriting process, as the borrower will have a better understanding of what is expected of them and what documentation they need to provide.
While it may be tempting for a loan officer to simply hand off the application to underwriting or direct the borrower to other departments for assistance, this approach can be impersonal and may result in confusion or frustration for the borrower. By taking a more hands-on approach and using effective communication skills to guide the borrower through the loan process, the loan officer can help to ensure a smoother, more successful lending experience for everyone involved.
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income tax how will it affect a pharmacy business?
Answer:
the tax deduction will be used to reduce current year profits.
Company has a material standardet pound per una of output Fach pound has a standard price of $25 per pound. During Muty Com paid $14.000 for soto pounds, which is used to product 4730 unitsWhat is the price variance?
The price variance is -$104,250. Since the actual price paid is lower than the standard price per pound, we have an unfavorable or negative price variance.
To calculate the price variance, we need to compare the actual price paid per pound of material with the standard price per pound.
Standard price per pound = $25
Actual price paid = $14,000
Actual pounds purchased = 4,730
First, we calculate the standard cost of the pounds purchased:
Standard cost = Standard price per pound * Actual pounds purchased
Standard cost = $25/pound * 4,730 pounds
Standard cost = $118,250
Next, we calculate the price variance:
Price variance = Actual cost - Standard cost
Price variance = Actual price paid - (Standard price per pound * Actual pounds purchased)
Price variance = $14,000 - ($25/pound * 4,730 pounds)
Price variance = $14,000 - $118,250
Price variance = -$104,250
The price variance is -$104,250. Since the actual price paid is lower than the standard price per pound, we have an unfavorable or negative price variance. This indicates that the company paid less than expected for the materials, resulting in potential cost savings.
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Which credit utilization rate would be preferable to a lender on a credit card application?
Your credit utilization ratio should be no higher than 30 percent, and the lower it is, the better for your credit score it will be.
What is the best credit card utilization rate?30 percent Keeping your credit utilization below 30 percent is a good idea, especially if you want to keep your good credit score. This means that if you have $10,000 in credit available, your outstanding balances shouldn't be more than $3,000 at any given time.
Why is credit utilization recommended at 30%?The normal exhortation is to continue to spin obligation beneath 30% of your accessible credit with the goal that your usage rate doesn't hurt your financial assessment. However, experts claim that your FICO score, which is used by the majority of lenders to make decisions, begins to decline well below that point.
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A good manager: A. gives advice freely and frequently. B. is more result-oriented than relationship-oriented. C. has a judger mind-set and low self-awareness. D. schedules time for listening to employees each day. E. believes that listening too much is a sign of indecisiveness.
Answer:
B.
Explanation:
If you're asking a good manager that keeps the busniess running the answer is B because he would get the best money results.
If you mean the best manager because CO-workers like him the answer is A, but I don't think that's what you're asking so the answer is most likely B.
IF THE ANSWER IS SELECT ALL THAT APPLY,
-A
-B
-D
Which of these are considerations that go into pricing a company's product? (Select all that apply.)
Price of getting the product to the market
How much tax the consumer pays as an end user
Price of labor to make the product
Price of raw materials
Answer:
All EXCEPT How much tax the consumer pays as an end user
Explanation:
All the options except how much tax the consumer pays as an end user are considerations that go into pricing a company's product.
What is pricing?Pricing is the process by which a company determines the price at which it will sell its products and services. It may be part of the company's marketing strategy. When determining prices, the company will consider the cost of acquiring the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and product quality.
Pricing is an important aspect of product management and one of the four Ps of the marketing mix, along with product, promotion, and place. Among the four Ps, price is the only one that generates revenue.
Therefore, price of getting the product to the market, price of labor to make the product, price of raw materials are the considerations that go into pricing a company's product.
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how companies collude in South Africa
Collusion among companies in South Africa is an illicit practice of working together, often in secret, to increase their profits at the expense of consumers. Collusion typically takes the form of price fixing, where businesses agree to set prices at an artificially high level, or bid rigging, where companies agree to submit inflated bids for contracts.
Companies can collude in various ways in South Africa. First, firms can engage in cartel agreements, where they agree on pricing and output. This results in reduced competition and higher prices. Second, firms can engage in bid rigging, where they collude to manipulate the tendering process. This results in inflated contract prices and reduced competition. Third, firms can engage in market sharing, where they agree to divide up the market among themselves. This results in reduced competition, increased prices, and less choice for consumers.
Collusion is illegal in South Africa under the Competition Act 89 of 1998. The Act aims to promote competition in the South African market and prevent anti-competitive behavior. Companies that are found guilty of collusion can face hefty fines and legal action. Additionally, individuals who are found guilty of collusion can be imprisoned for up to 10 years.
In conclusion, collusion among companies in South Africa is a serious problem that reduces competition and harms consumers. It is important for companies to compete fairly and abide by the Competition Act to ensure a level playing field for all businesses and a fair deal for consumers.
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what is the future value of a 5-year ordinary annuity with annual payments of $554, evaluated at a 12% interest rate?
The future value of a 5-year ordinary annuity with annual payments of $554, evaluated at a 12% interest rate, is $3,514.74.
To calculate the future value of a 5-year ordinary annuity with annual payments, we can use the future value of an ordinary annuity formula:
\(Future Value = Payment × [(1 + Interest Rate)^(Number of Periods) - 1] / Interest Rate\)
Given:
Payment = $554
Interest Rate = 12%
Number of Periods = 5 years
Substituting the values into the formula:
\(Future Value = $554 × [(1 + 0.12)^5 - 1] / 0.12\)
Calculating this expression:
Future Value = $554 × [1.762341 - 1] / 0.12
Future Value = $554 × 0.762341 / 0.12
Future Value = $3,514.74
Therefore, the future value of a 5-year ordinary annuity with annual payments of $554, evaluated at a 12% interest rate, is $3,514.74.
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Which balance shows the amount of money you can use now? Checking balance Current balance Available balance Pending balance
The balance that shows the amount of money you can use now is Available balance.
What is available balance?Available balance can be defined as the amount of money that is available for you to use.
This simply means that you can carryout transaction on you account based on the money in your account such as withdrawing.
Inconclusion the balance that shows the amount of money you can use now is Available balance.
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Bob sold manufacturing equipment to a dealer for $50,000. He bought the equipment for $55,000 several years ago and has claimed $12,500 of depreciation expense on the equipment. What is the amount and character of the gain or loss for Bob on the equipment?
The amount and character of the gain or loss for Bob on the equipment are as follows: To find the amount and character of the gain or loss for Bob on the equipment, you need to consider the equipment's carrying value.
To determine the carrying value, subtract the total depreciation expense claimed from the original cost of the equipment.$55,000 - $12,500 = $42,500.
The equipment's carrying value is $42,500. Since Bob sold the equipment for $50,000, there is a gain. The gain can be calculated by subtracting the carrying value from the selling price:$50,000 - $42,500 = $7,500. Therefore, Bob has a gain of $7,500 on the sale of the equipment.
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When dealing with credit cards, it is important to know your card’s _______________.
it is important to know your credit card pin
In your own words, how do you apply for scholarships
to protect consumers, congress passed an act in 1972, which set up the u.s. consumer commission. the commission has broad power to set safety standards and can impose penalties for failure to meet these standards.
The act passed by Congress in 1972 to protect consumers and establish the U.S. Consumer Commission is the Consumer Product Safety Act (CPSA).
The Consumer Product Safety Act (CPSA) was enacted by Congress in 1972 with the aim of safeguarding consumers from unsafe products and establishing the U.S. Consumer Product Safety Commission (CPSC). The CPSC was empowered by the CPSA to set safety standards for consumer products, conduct research and investigations, provide information to the public, and impose penalties on companies failing to meet these safety standards.
This legislation granted the CPSC broad authority to regulate a wide range of products and ensure their safety, thus promoting consumer welfare. By setting standards and enforcing compliance, the CPSA and the CPSC play a crucial role in protecting consumers and maintaining product safety in the United States.
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------------The given question is incomplete, the complete question is:
"What act did the congress passed in 1972 to protect consumers, which set up the u.s. consumer commission? The commission had the broad power to set safety standards and can impose penalties for failure to meet these standards."-------------
the revolution in management that is currently under way suggests that the most effective managers of the future will
The current management revolution suggests that the most effective future managers will need to "be skilled communicators and team players."
This is because, unlike in the past, when employees tend to follow the manager's instructions to the letter without questions, many employees today tend to speak back or ask more questions.
Also, coupled with the fact that many today's employees prefer working without strict supervision, the tendency for conflicts to occur increases, and the need for motivation becomes significant.
Hence, in this case, it is concluded that future managers would need to be good communicators and team players, not just among the executives but also among the lower employees.
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On his marvel company team, sam wilson is "the motivator. " he’s always encouraging his teammates to work harder and try to perform better. Which of belbin’s team roles is sam enacting?.
Sam Wilson's Marvel Corporation team refers to him as "the motivator" since he consistently encourages his coworkers to put in more effort and strive for excellence. Belbin team members play "shapers" duties. Sam is onstage.
Which Belbin team position is in charge?At Belbin, we believe that the roles of "Leader" and "Manager" are very different from one another. A leader inspires and guides others, laying out the path and making sure that others follow, as opposed to a manager who assigns tasks to a team.
What functions did each team member have?Distinct people perform different roles within a team. Team members can play one of four roles: leader, facilitator, coach, or member. These are all elements of a team, but they don't have to be mutually exclusive. At certain times, a leader can also serve as a coach and facilitator.
Team leaders encourage improvement by forming the team. They are vibrant, often extroverted people who enjoy inspiring others, questioning norms, and finding the best solutions to problems.
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when planning a training session, the purpose of a pretest of trainees is to ____.
When planning a training session, the purpose of a pretest of trainees is to assess their current knowledge and skills.
This assessment helps trainers to determine the starting point for the training, to identify areas where trainees may need more or less instruction, and to tailor the training to the needs of the group. Pretests also help trainees to set their own learning goals, as they can see where they are starting from and what they need to learn. By giving trainees a pretest, trainers can also increase motivation, as trainees may be more invested in the training if they feel like it is personalized to their needs and abilities.
Finally, pretests can help trainers to evaluate the effectiveness of the training, as they can compare post-test results to pretest results to see if the training was successful in achieving its goals. Overall, a pretest of trainees is an essential tool for planning and delivering effective training.
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Which of the following is NOT a primary reason for technology?
(A)Get tasks done quicker
(B)Make tasks easier
(C)Get tasks done more efficiently
(D)Make tasks more difficult
Answer:
D
Explanation:
technology was made so that we would do things more efficiently and with less effort, if the device that were created made tasks more difficult, we would have no need for it and it would probably be disreguarded. theres no reason to have technology that makes life more difficult
Terry transfers two assets to a partnership on the day it’s created for a 60% partnership interest worth $120,000. She contributed cash = $80,000 and equipment worth $40,000 with an adjusted basis = $16,000. What result?
a.Terry realizes and recognizes a $24,000 gain
c.Terry realizes but does not recognize a $24,000 gain
b.Terry neither realizes nor recognizes any gain
d.Terry does not realize but may elect to recognize a $24,000 gain
The result of Terry transferring two assets to a partnership on the day it’s created for a 60% partnership interest worth $120,000 with a cash contribution of $80,000 and equipment worth $40,000 with an adjusted basis of $16,000 is that Terry realizes but does not recognize a $24,000 gain.
Option C is the correct answer. Realized gain is defined as the amount that a taxpayer gains from the sale or exchange of property. When an asset is sold or exchanged for more than its adjusted basis, a realized gain occurs. Terry has contributed $40,000 in equipment with an adjusted basis of $16,000. Therefore, Terry has a $24,000 realized gain ($40,000 – $16,000). Terry does not, however, recognize the $24,000 gain.
A gain is recognized when it is included in gross income.
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Out of insurance paid this year 3000 is for next year
Jasper makes a $25,000, 90-day, 7 % cash loan to Clayborn Co. Jasper's entry to record the collection of the note and interest at maturity should be: (Use 360 days a year.)
A) Debit Cash for $25,000; credit Notes Receivable $25,000.
B) Debit Cash $25,437.50, credit Interest Revenue $437.50; credit Notes Receivable $25,000.
C) Debit Cash $25,437.50; credit Notes Receivable for $25,437.50.
D) Debit Notes Payable $25,000; Debit Interest Expense $1,750; credit Cash $26,750.
E) Debit Cash $26,750; credit Interest Revenue $1,750, credit Notes Receivable $25,000.
Answer:
B) Debit Cash $25,437.50; credit Interest Revenue $437.50; credit Notes Receivable $25,000.
Explanation:
Based on the information given Jasper's appropriate journal entry to record the collection of the note and interest at maturity should be:
Debit Cash $25,437.50
($25,000+$437.50)
Credit Interest Revenue $437.50
(7%*25,000*90 days/360 days a year =$437.50)
Credit Notes Receivable $25,000
(Being to record the collection of the note and interest at maturity)
What type of business is formed with the primary purpose of serving its user- members? O A. Partnership O B. Corporation O C. Sole proprietorship O D. Cooperative
Answer:
A social enterprise is a business with social objectives that serve its primary purpose.
Explanation:
Answer:
cooperative
Explanation:
just took it
sport directs and British Heart Foundation: mission, vision, and values.
Our British goal is to create a world without the worry of cardiovascular and Foundation circulation conditions. These illnesses destroy the hearts mission of millions of families and claim the lives of 1 in 4 people.
We intend to alter that. In order to permanently defeat sadness, we raise money for research into treatments and Foundation cures. According to the BBC's Royal Charter, its purpose is to act in the public interest mission while providing all audiences with objective, outstanding, and distinctive products and services that inform, educate, and amuse them. The British Heart Foundation Society seeks to promote the charity and raise funds for it.
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