Following are the transactions of JonesSpa Corporation, for the month of January a Borrowed $19,000 from a local bank, the loan is due in 9 months b. Lent $9.600 to an affiliate, accepted a note due in one year Sold to investors 90 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share; received cash d. Purchased $27,000 of equipment, paying $10,300 cash and signing a note for the rest due in one year e. Declared $4,500 in cash dividends to stockholders, to be paid in February Prepare the journal entry to record each of the above transactions for the month of January Note: If no entry is required for a transaction/event, select "No journal entry required in the first account field. View transaction list Journal entry worksheet 5 > Record the receipt of the bank loan of $19,000. Note: Enter debts before credits Transaction General Journal i Record entry Clear entry Debit Credit View general journal

Answers

Answer 1

In the month of January, JonesSpa Corporation had several transactions. The first transaction involved borrowing $19,000 from a local bank, with the loan due in 9 months. The second transaction included lending $9,600 to an affiliate and accepting a note due in one year.

The third transaction involved selling 90 additional shares of stock with a par value of $0.10 per share and a market price of $15 per share, resulting in the receipt of cash. The fourth transaction was the purchase of $27,000 worth of equipment, with $10,300 paid in cash and the remainder covered by a note due in one year. Finally, the fifth transaction was the declaration of $4,500 in cash dividends to stockholders, to be paid in February.

To record these transactions in the journal, we would need to prepare journal entries for each transaction. The specific amounts and accounts affected would depend on the details provided in the original question. Without the specific details, it is not possible to provide the exact journal entries.

However, each journal entry would involve debiting and crediting the appropriate accounts to reflect the impact of the transaction on the company's financial records.

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Related Questions

in most states, it is assumed that a property owner intends to transfer fee simple absolute ownership without including…?

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In most states, assumed that a property owner intends to transfer fee simple absolute ownership without including Special language in the will.

Words are little containers of significance. We hang sacks of inferences and comprehension on these symbols. We think in words and sentences, and without language (and communication through signing keeps guidelines of syntax as much as verbal language) our capacity to comprehend and think would be far, undeniably less.

Logicians and researchers make new words to demonstrate that they have found a novel, new thing. This impact is additionally utilized by the people who need to give the impression of having found new information. You might be forgiven for thinking that I have discovered something novel and valuable if I discuss the universe of time.

Existing words can be redefined to have new meanings, or the other way around. Superlatives from a wide range of fields have been pressed into new service as a result of teenagers and advertisers regularly doing this. "Like a fable" translates to "fabulous." "Like a fantasy" means "fantastic." And so forth.

When people use old words with new meanings, it gives those who are "in the know" a sense of exclusivity and lets them talk openly with people who don't know and appear to be talking normally or nonsense. In any case, it allows for group conversation that is unlikely to endanger others. It likewise makes a duper's pleasure at having a 'secret language'.

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Type the correct answer in the box. Spell all words correctly.
What does this situation demand from the company?
Martha bought a new laptop a week ago. She’s having trouble understanding how the laptop functions. She wants the store where she bought the laptop to help her. The store should provide Martha with good_______
by giving her all the information she needs.

Answers

Answer:

After-sales service

Explanation:

After-sales service are all the efforts of a business to keep its clients happy and satisfied with the products they have purchased. It is providing care to customers after they have made purchases from the business. After-sale service help in retaining and building loyal customers.

Some of the techniques used in after-sales service include

Keeping in touch with customers after purchases Responding to customer queries either on call, emails, or customer visit Offering technical supports when a customer is facing challenges like in the scenario described above

Answer:

customer service

Explanation:

I just took the test on Edmentum

Whether the service involves tax assistance at H&R Block or guest relations at the Ritz-Carlton, organizations attempt to reduce inconsistency through
A. regulation of service industries in terms of basic standards of quality.
B. maintaining a consistent image.
C. standardization and training.
D. better hiring practices.
E. reducing idle production capacity.

Answers

The service involves tax assistance at H&R Block or guest relations at the Ritz-Carlton, organizations attempt to reduce inconsistency through Standardization and training.

The correct option is C.

is the most likely way that organizations attempt to reduce inconsistency in their services, whether it involves tax assistance at H&R Block or guest relations at the Ritz-Carlton. Standardization refers to the development of consistent procedures and processes for delivering the service, while training ensures that employees have the necessary skills and knowledge to perform their jobs in a standardized way.

By standardizing their processes and providing training to their employees, organizations can reduce variability in the service experience and provide a more consistent level of quality to their customers. The other options listed may also contribute to reducing inconsistency, but standardization and training are typically the primary methods used by service organizations.

Standardization and training are key methods used by organizations to reduce inconsistency in their services. Standardization involves developing consistent procedures and processes, while training ensures that employees have the necessary skills to perform their jobs in a standardized way, resulting in a more consistent level of quality for customers.

The correct option is C. standardization and training

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6. Identify a change in technology during each of the time periods in history below that you believe improved the
way marketing activities were completed. List the example and explain how it contributed to marketing during
that time.
(a) 1900s to 1930s
(b) 1930s to 1950s
(c) 1950s to 1980s
(d) 1980s to today
Answer:

Answers

Answer:

Prior to the 1950s, the production orientation generally held true due to the growing numbers of affluent and middle class people that capitalism had created.

Say’s Law states that the “production of commodities creates, and is the one and universal cause which creates, a market for the commodities produced”.

The emphasis of firms adopting a production orientation of marketing would have been based on the theory of economies of scale, which are the cost advantages that an enterprise obtains due to expansion.

At a a team meeting, everyone spends the first 10 minutes trying to find their documents, asking what you are working on, and getting distracted by off-topic chatting. What does your team need?
A. listening skills
B. organization
C. confidence
D. honesty

Answers

The answer is B. Organization.

After analyzing the scenario, the team needs listening skills. Thus, option A is the correct option.

You may be hearing the words that are being said, but without any form of reaction (such as smiling, nodding your head or reacting to the conversation), it could be deemed that you’re not paying attention. In contrast, active listening is a style of communication that shows you understand what is being said to you, and what you are being asked to do.

Active listening skills are about more than just hearing the words; it involves interpreting body language and other visual cues, and thinking about your response and knowing how to react appropriately.

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Disadvantages of choosing a job that is extremely popular or in demand

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The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.

What is a high demand job?

This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.

The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.

The number of qualified persons may become more than the job that is available for the people to do in the long run.

Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.

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Part A) Which is NOT an IPO puzzle?
Huge price spikes in the first couple trading days
Underperformance in the long run
Extreme IPO market cycles
Hiring underwriters to do the job

Answers

Option B. Underperformance in the long run  is NOT an IPO.

What is IPO?

An initial public offering is when a private firm offers its first equity to the general public (IPO). A company's ownership is essentially changing from private ownership to public ownership through an IPO. Investment banks help private companies sell their shares to the public, which involves extensive due diligence, marketing, and regulatory requirements.

Whether a company is brand-new or has been operating for years, it might choose to go public through an IPO. Company insiders may use an IPO to diversify their holdings or generate liquidity by selling all or a portion of their private shares as part of the public offering. Hence, Option B. Underperformance is correct option.

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you purchase one bim july 134 call contract for a premium of $15 per call. you hold the option contract until the expiration date, when bim stock sells for $141 per share. you will realize a/an on the investment. group of answer choices d. $9 gain b. $800 loss a. $900 gain c. $8 loss

Answers

This is because you have purchased the call option contract at a premium of $15 per call, which gives you the right to buy BIM stock at a strike price of $134 per share.

Since the stock price has risen to $141 per share at the expiration date, you can exercise your option to buy the stock at $134 per share and sell it in the market at $141 per share, resulting in a profit of $7 per share. Since the call option contract represents 100 shares, your total profit will be $700. However, you need to subtract the premium paid of $15 per call, resulting in a net profit of $685. Therefore, your realized gain on the investment is $900 ($685 profit plus $215 premium paid).
Here's a step-by-step explanation using the terms you provided.

1. "Premium": You purchase one BIM July 134 call contract for a premium of $15 per call. This means you pay $15 for each share you have the right to buy.

2. "Investment": The option contract represents your investment. One option contract controls 100 shares of stock, so your total premium investment is $15 x 100 = $1,500.

3. At expiration, BIM stock sells for $141 per share. Since you have a call option with a strike price of $134, the option is in-the-money, so you can exercise it to buy 100 shares at $134 per share.

4. Your total cost to purchase the shares at the strike price is $134 x 100 = $13,400.

5. The current market value of the shares is $141 x 100 = $14,100.

6. Your total gain (excluding the premium) from exercising the option is $14,100 - $13,400 = $700.

7. To calculate your net gain on the investment, you need to subtract the premium paid: $700 - $1,500 = -$800.

Based on these calculations, you will realize a $800 loss (choice B) on the investment.

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Who are office chief , sectional chief and assistant in school ?​

Answers

Answer:

Post of the principle : A principal in a company is typically the owner, founder or chief executive officer (CEO) of a company. In some situations, the principal might be someone who owns most of the company's equity and is responsible for making big business decisions.

Post of the teacher : Teaching post means any post in a school or institution occupied by a teacher for the purpose of teaching. teaching post means a post, the duties of which involve teaching and training the students and other academic responsibilities.

Post of the counter worker : They call the childs parents if anything is wrong at school and is responsible of collecting the school fees and payment

Explanation:

Answer:

Sectional chief is the bridge between top and low level chiefs. One of the most important functions of a sectional chief is to report the performance, problems and achievements of the department to the office chief. Office Assistant: They are those personnel who work at lower level in an organization.

Teacher's post: Teaching post means any post in a school or institution occupied by a teacher for the purpose of teaching. teaching post means a post, the duties of which involve teaching and training the students and other academic responsibilities.

Explain why socialist societies do not use a circular flow chart.

Answers

They don’t use a circular flow chart because it don’t give a precise answer to what they are answering.

Choose the term that best matches the description given.
The act that has its own definition and remedial steps for mistakenly created e-commerce contracts:
Pls help me. I will give best answer

Choose the term that best matches the description given.The act that has its own definition and remedial

Answers

Answer:

I have no idea is that history

can somebody plz help? ASAP

can somebody plz help? ASAP

Answers

Answer:

More accessible goods

An increase in international trade

A rise in regional Jobs

Felipe's uncle owns a large manufacturing business with offices in three states. This type of business would BEST be described as what?

Answers

The type of business that the uncle is said to have would be described as an entrepreneurial business.

What is an entrepreneurship?

This is used to refer to the business that is owned by a single person. This person is called the entrepreneur who gets to enjoy either the profit or the loss that may occur in the business that he is operating.

The question says that the uncle has a chain of these businesses across three states, we can say that the uncle is an entrepreneur.

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Answer: corporate

Explanation:  it has three locations in different states, which gives it a wide range of clients.

Lilly, Briah, Chloe, and Terry are the directors and equal shareholders of Fantastic Holidayz Pty Ltd, a company that runs an exclusive airline company and operates in several high-rise office buildings in Melbourne. Briah is the Managing Director and Terry is the Chief Financial Officer. Lilly and Chloe are non-executive directors. The Company has adopted a written constitution which contains the following clauses: (36) A directors' meeting may be called by a director giving reasonable notice individually to every other director (37) Quorum for directors' meetings is four directors and the quorum must be always present during the meeting (42) A resolution of the majority of directors may resolve to remove another director of the company. Business is booming, and Fantastic Holidayz has made a great deal of money over the last few years. However, the Board of Directors have rejected Lilly's proposal to declare a dividend for the last 7 years in a row - and she is getting fed up. The other directors always outvote her, arguing that it is better to keep the profits in reserve and continue to expand the business. Terry is currently investigating the possibility of opening further destinations to their itinerary In October 2017 Lilly was overseas for a family funeral and on her return to Melbourne, she discovers that the other directors have met and passed resolutions to remove her as a director of the company. Lilly did not receive any notice of the director's meeting. In another resolution, the remaining directors voted to pay themselves $500,000 in bonuses - equating to the entire year's profit. Lilly is angry that she has been removed and not paid a bonus and comes to you for your professional advice and opinion. Further, Fantastic Holidayz has a longstanding agreement with several travel agencies, and in January 2018, Fantastic's financial accounts showed that one agency owed the company $85,000, and there was no applicable security Recently, Lilly discovered that by June 2018 the debt owing to Fantastic Holidayz had blown out to $200,000. Terry had approved additional credit without the knowledge of the other directors. He did this, even though the agency had been taking a long time to pay its overdue account. Additionally, there are now rumours that are insolvent, but this cannot be proven. REQUIRED: 1. Discuss whether Lilly can bring any action to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses? (5 marks) 2. Advise Lilly about the process and potential outcomes if the travel agency is placed into voluntary administration - and any implications of this on Fantastic Holidayz. (5 marks) 3. Advise Lilly about whether Terry has breached any of his statutory duties as a director of Fantastic Holidayz. Include in your answer the consequences of a breach of duty, whether Lilly could bring an action for compensation on behalf of the company against Terry, and whether there are any defences available.

Answers

It is important for Lilly to consult with a legal professional to assess the specific circumstances and determine the most appropriate course of action. Legal advice tailored to the jurisdiction and applicable laws should be sought.

1. Lilly's Challenge to Dividend Denial and Bonus Payment:

Lilly may have grounds to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses. The key considerations are as follows:

a) Breach of Fiduciary Duty: Directors owe a fiduciary duty to act in the best interests of the company. By consistently rejecting dividends despite profitable operations, the directors may be breaching this duty if their decision is not justifiable and reasonable. The decision to pay themselves bonuses without Lilly's approval further strengthens her case.

b) Unfair Prejudice: Lilly may argue that the denial of dividends and payment of bonuses unfairly prejudice her interests as an equal shareholder and director. This argument can be supported by the fact that dividends have been consistently denied for several years, and the bonuses were paid without her knowledge or consent.

c) Oppression of Minority Shareholder: If the other directors' actions substantially interfere with Lilly's rights as a shareholder and director, it could constitute oppression of a minority shareholder. Denying dividends and paying bonuses in a manner that excludes Lilly's interests may be viewed as oppressive.

Lilly can potentially bring legal action seeking remedies such as an injunction to stop the bonuses, an order for dividends to be paid, or a buyout of her shares at a fair value.

2. Travel Agency in Voluntary Administration:

If the travel agency owing $200,000 to Fantastic Holidayz is placed into voluntary administration, the process and potential outcomes can be summarized as follows:

a) Voluntary Administration: Voluntary administration is a process where an external administrator (usually a registered liquidator) takes control of the insolvent company to maximize returns for creditors. The administrator assesses the company's financial position and explores options, such as restructuring or selling the business.

b) Outcomes and Implications: During voluntary administration, the administrator may propose a Deed of Company Arrangement (DOCA) to the creditors. If approved, it could allow the travel agency to continue operating and repay the debt over an agreed period. Alternatively, if the company's financial situation is deemed irreparable, the administrator may recommend liquidation.

For Fantastic Holidayz, the outcome depends on the recovery of the debt. If the travel agency is unable to repay the owed amount, Fantastic Holidayz may have to write off the debt as a loss, potentially impacting their financial position. The impact could be significant if the debt is material to the company's operations.

3. Terry's Breach of Director's Duties:

Terry, as the Chief Financial Officer and a director of Fantastic Holidayz, may have breached his statutory duties. The key considerations are as follows:

a) Duty of Care and Diligence: Directors must exercise reasonable care, skill, and diligence in fulfilling their roles. Terry's approval of additional credit without the knowledge of other directors could be seen as a failure to exercise due care and diligence. The consequences of a breach may include personal liability for any loss suffered by the company.

b) Duty to Act in Good Faith and for Proper Purpose: Directors must act in good faith and in the best interests of the company. By approving additional credit for a customer with an outstanding overdue account, despite potential insolvency concerns, Terry may have breached this duty.

c) Consequences and Action for Compensation: If Terry is found to have breached his statutory duties, consequences may include personal liability for any loss suffered by the company due to his actions. Lilly, as a shareholder, may have standing to bring a derivative action on behalf of the company to seek compensation from Terry for any losses incurred.

d) Defenses: Terry may raise defenses such as relying on professional advice, acting in good faith, or having the belief that his actions were in the company's best interests. However, these defenses may not absolve him entirely from liability if his actions are found to be unreasonable or against the company's interests.

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true or false: employee assistance programs are aimed at helping employees cope with a variety of problems that negatively influence job performance.

Answers

It is TRUE that, Employee assistance programs are aimed at helping employees cope with a variety of problems that negatively influence job performance.

An employee benefit program called an employee assistance program (EAP) helps employees with personal and/or professional issues that may affect their ability to do their jobs, as well as their physical, mental, and emotional well. EAPs typically provide short-term counseling, referrals, follow-up services, free and confidential assessments, and other services to employees. EAP counselors may also collaborate with managers and supervisors to meet the needs and issues of both employees and the organization. The prevention and management of workplace violence, trauma, and other emergency reaction circumstances is a major focus for many businesses, academic institutions, and/or governmental entities. For employees, a range of assistance programs are available. There are several programs that can help with concerns that are not related to the job, even though EAPs are primarily designed to address work-related issues.

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The company purchased a machine on 1 January 20x2 for $60,000. The machine have a salvage value of $4,000 at the end of its 4-year useful life. It is estimated that the machine will produce 80,000kg of products over its 4-year life. The company's financial year-end is 31 December.
a. If 18,000kg of products are produced in 20x2 and 28,000kg are produced in 20x3, what is the book value of the machine at 31 December 20x3? The company uses the units-of-activity depreciation method.
b. If the company uses the double-declining balance method of depreciation, what is the amount of depreciation expense to be recorded in the machine's final year of service?
c. On 1 July 20x4, a warehouse fire results in a small damage of the machine. It was not worth repairing the machine as the damage had only resulted in a small reduction in daily output. The Fair Value of the machine was $10,000 but that its Value-in-Use, even though damaged was at least $12,000. The company uses the double-declining balance method of depreciation for this asset. As an accountant, you have been asked to conduct an impairment test on this asset.

Answers

a. Book value of the machine at the end of 31 December 20x3: $27,800

b. Depreciation expense for the final year using the double-declining balance method: $13,900

c. Impairment loss to be recognized: $15,800

a. To calculate the book value of the machine at the end of 31 December 20x3 using the units-of-activity depreciation method, we need to determine the depreciation rate per kilogram of product.

Total production over the useful life of the machine = 80,000 kg

Depreciable cost = Initial cost - Salvage value = $60,000 - $4,000 = $56,000

Depreciation rate per kilogram of product = Depreciable cost / Total production

Depreciation rate per kilogram of product = $56,000 / 80,000 kg = $0.70 per kg

Depreciation expense for 20x2 = 18,000 kg * $0.70/kg = $12,600

Depreciation expense for 20x3 = 28,000 kg * $0.70/kg = $19,600

Book value of the machine at 31 December 20x3 = Initial cost - Depreciation expense for 20x2 - Depreciation expense for 20x3

Book value of the machine at 31 December 20x3 = $60,000 - $12,600 - $19,600 = $27,800

b. The double-declining balance method of depreciation uses a depreciation rate that is double the straight-line depreciation rate. Since the machine has a 4-year useful life, the straight-line depreciation rate would be 1/4 or 25%. The double-declining balance rate would be 2 times that, or 50%.

Depreciation expense for the final year = Book value at the beginning of the year * Depreciation rate

Depreciation expense for the final year = $27,800 * 50% = $13,900

c. To conduct an impairment test, we compare the machine's carrying value (book value) to its recoverable amount. The recoverable amount is the higher of Fair Value and Value-in-Use.

Carrying value of the machine = Book value = $27,800

Recoverable amount = Max(Fair Value, Value-in-Use) = Max($10,000, $12,000) = $12,000

Since the carrying value ($27,800) is greater than the recoverable amount ($12,000), an impairment loss needs to be recognized. The impairment loss would be the difference between the carrying value and the recoverable amount:

Impairment loss = Carrying value - Recoverable amount = $27,800 - $12,000 = $15,800

The impairment loss of $15,800 would be recognized in the financial statements. The revised carrying value of the machine would be its recoverable amount, $12,000.

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Bernie works for quickwell lending and accesses several lenders to find a loan product that works best for his clients. what is bernie?

Answers

Bernie is a mortgage broker who accesses several lenders to find a loan product that works best for his clients.

A mortgage broker is a person who acts as an intermediary between the person who offers the loans and someone who wants to buy real estate. so they help their clients to obtain the best rate of interest on their loans. In this way, the client will be able to obtain the best terms and rates to meet their financial needs.

A mortgage broker can help us find the right mortgage. This helps the client in saving time, money, and effort. A mortgage broker may have better and more access to lenders than we have. The only factor to be kept in mind is the charges that these mortgage brokers may take from us.

So a mortgage broker is a link between financial institutions and individuals. The mortgage broker works with both to get the amount of loan sanctioned and at the best rates. They also verify all the paperwork necessary for obtaining the loan. So as Bernie works for finding a loan that is the best for the client he is a mortgage broker.

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Which of the following would be a scientific theory? A the hypothesis that if you increase the temperature of water, then sugar will dissolve quicker B the statement that objects in motion tend to stay in motion C a belief in ghosts that humans cannot see or feel D an explanation of why global temperatures are rising

Answers

Answer:

D an explanation of why global temperatures are rising

Explanation:

The insurance policy provided by darrell's company has a $1,000 deductible and a 20% co-pay. How much will he have to pay for elbow surgery that will cost $9,000?.

Answers

Darrell will have to pay $2,600. Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.

The company pools clients' risks to make payments more affordable for the insured. Types of insurance include health, auto, life, homeowners, and liability insurance, among others. It is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.

Tto calculate the amount that Darrell will have to pay for the elbow surgery:

First, there is a $1,000 deductible that he will have to pay.

Next, we need to calculate the remaining cost after the deductible is subtracted. So, $9,000 (total cost of surgery) - $1,000 (deductible) = $8,000

Next, we need to calculate the co-pay amount, which is 20% of the remaining cost. So, 20% * $8,000 = $1,600

Finally, we add the deductible amount and the co-pay amount to get the total amount that Darrell will have to pay. So, $1,000 (deductible) + $1,600 (co-pay) = $2,600

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What is improved oven? in your own words.

Answers

Answer:

improved oven means improved cooking

Motor Works, Inc. has declared a $20,000 cash dividend to shareholders. The company has 5,000 shares of $15-par, 10% preferred stock and 10,000 shares of $20-par common stock. The preferred stock is non-cumulative. How much will the preferred and common stockholders receive on the date of payment?

Answers

Answer: $7,500 preferred stock, $12,500 common stock

Explanation:

Given that:

Total cash Dividend = $20,000

Preferred stock:

5,000 shares of $15-par, 10%

Therefore ;

preferred stock balance = number of share × price × rate

5000 × $15 × 0.1 = $7,500

Balance of common stock is therefore ;

Total cash Dividend - balance of preferred stock

$20,000 - $7,500 = $12,500

Over the past two decades, the U.S. economy has shifted from a manufacturing economy toward a(n) __________ economy.

Answers

Answer: Service-producing

Describe three ways in which being a student is like being a wage earner

Answers

Answer:

Being a full-time student has quite a few similarities to being an employee, especially in the following characteristics:

1- The existence of a schedule to meet. While employees must meet a schedule in their respective jobs, students must attend their previously scheduled classes, in addition to meeting a minimum study schedule per day.

2- It is the main activity of each person. While employees spend between 8 and 10 hours of their day at work, students also spend part of their day busy with study activities, between trips, classes, studies, practical work, etc. In both cases, recreational activities are secondary to your primary obligations.

3- The economic appreciation of their activities. Employees get a salary for their work activity, while students do not get a salary but they do get knowledge, which will be economically valuable once they graduate.

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How any two stakeholders affect the quality of toyota's products?​

Answers

Answer:

The company's brand value, human resource skills, and financial soundness are all influenced by these stakeholders. It affects toyota's quality products to be either better or worse.

1. Your friend asks to borrow $50 and offers to pay you back with interest. What factors
would you consider in your decision to accept or decline their request?

Answers

The factors that you have to think about would before giving out the loan would be the following:

The loan periodThe ability to pay back the loanThe interest that is on the loanHow the money is to be returned.

What is a loan?

This is the term that is used to refer to an amount of money that would be given to a person that is the borrower by the lender for a period pf time and for them to pay back with interest.

To be able to determine if you are to give out a loan, you have to take the ability of the person to pay you back the amount as a fator.

Also you have to check the character of the person that you are to loan the money to.

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A high accounts receivable turnover ratio indicates.

Answers

A high accounts receivable turnover ratio indicates that a firm is efficient in converting receivables to cash.

What is the receivables turnover ratio?

Receivables turnover ratio is an example of an activity ratio which measures how efficiently a firm carries out its daily activities. Receivables turnover ratio is the ratio of revenue to average reciveables.

Receivables turnover ratio = Revenue / average receivables

The faster it is for a firm to collect its receivables, the more efficient the firm is.

when purchase costs are (rising/declining) , lifo will report the lowest cost of goods sold yielding the highest gross profit and net income.

Answers

When purchase costs are declining, LIFO (last-in, first-out) will report the lowest cost of goods sold, yielding the highest gross profit and net income.

LIFO stands for last-in, first-out, and it is a method of accounting for inventory costing. The last goods obtained are the first to be sold under this approach. As a result, the value of inventory on the balance sheet is based on the oldest inventory items.

LIFO has a big effect on the cost of goods sold and, as a result, net income. When purchase costs are increasing, LIFO will report the highest cost of goods sold and the lowest gross profit, lowering net income. When purchase costs are decreasing, however, LIFO will report the lowest cost of goods sold and the highest gross profit, raising net income. Therefore, when purchase costs are declining, LIFO will report the lowest cost of goods sold, yielding the highest gross profit and net income.

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How have key historical and ongoing
financial practices led to modern racial
inequities in the United States?

Answers

One of the most important historical and ongoing financial practices that have led to modern racial inequities in the United States is redlining. Redlining is the practice of denying financial services, such as mortgages and insurance, to certain neighborhoods based on the racial and ethnic makeup of the area. This practice was first implemented in the 1930s and continued until the 1970s. This practice has had long-lasting effects on the economic prospects of African-Americans and other minority groups. Redlining has led to the creation of racially concentrated areas of poverty and has denied minority groups access to wealth-building opportunities such as homeownership.

Redlining has also contributed to the wealth gap between white and minority households. A study by the Institute on Assets and Social Policy found that the median white family’s wealth is 11 times greater than that of the median black family. This disparity is largely due to the fact that redlining and other discriminatory practices have prevented many minority families from accessing the same wealth-building opportunities that white families have. This has resulted in a large disparity in the amount of wealth that white and minority families have been able to accumulate over time.

Redlining and other financial practices have also contributed to the racial disparities in student loan debt. Studies have found that black and Hispanic borrowers have higher loan default rates than white borrowers, even when controlling for income. This is due to the fact that black and Hispanic borrowers are more likely to have higher interest rates and to have difficulty accessing the same types of loan opportunities as white borrowers. This has resulted in a large racial disparity in the amount of debt that black and Hispanic borrowers must take on in order to pursue higher education.

These historical and ongoing financial practices have had long-lasting effects on the economic prospects of minority groups in the United States. Redlining, the wealth gap, and disparities in student loan debt are all examples of how financial practices have contributed to the racial inequities that exist today.

Reddy Company commenced operations in 2012. The company provided the following information for the year ended December 31, 2012 :
Administrative costs $15,000
Depreciation on factory equipment $6,000
Indirect materials $1,000
Marketing and distribution costs $12,000
Salaries for factory supervisors $10,000
Wages for production workers $13,000
Raw materials used $19,000
Sales revenue $98,000
Selling costs $9,000
Utilities for production facilities $4,000
Ending work in process inventory $20,000
Ending finished goods inventory $10,000
1) Prepare a Schedule of Cost of goods manufactured and sold for the year ended December 31, 2012.
2) Prepare an Income Statement for the year ended December 31, 2012.

Answers

1) Schedule of Cost of Goods Manufactured for the year ended December 31, 2012:
Direct materials used: $19,000
Direct labor (Wages for production workers): $13,000
Manufacturing overhead:
 - Depreciation on factory equipment: $6,000
 - Indirect materials: $1,000
 - Salaries for factory supervisors: $10,000
 - Utilities for production facilities: $4,000
Total manufacturing overhead: $21,000

Total manufacturing costs: $53,000 ($19,000 + $13,000 + $21,000)
Add: Beginning work in process inventory: $0 (Since the company commenced operations in 2012)
Less: Ending work in process inventory: $20,000
Cost of goods manufactured: $33,000 ($53,000 - $20,000)
2) Income Statement for the year ended December 31, 2012:
Sales revenue: $98,000
Cost of goods sold:
 - Beginning finished goods inventory: $0
 - Cost of goods manufactured: $33,000
 - Less: Ending finished goods inventory: $10,000
Total cost of goods sold: $23,000 ($33,000 - $10,000)
Gross profit: $75,000 ($98,000 - $23,000)
Operating expenses:
 - Administrative costs: $15,000
 - Marketing and distribution costs: $12,000
 - Selling costs: $9,000
Total operating expenses: $36,000 ($15,000 + $12,000 + $9,000)
Net income: $39,000 ($75,000 - $36,000)

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jill is 45 years old and thinks that her future tax rate will be lower than what she currently pays, so she wants to defer her taxes on her contributions of up to $6,000 in 2020. which plan would allow her to meet her goals?

Answers

jill is 45 years old and thinks that her future tax rate will be lower than what she currently pays, so she wants to defer her taxes on her contributions of up to $6,000 in 2020. Regular IRA plan would allow her to meet her goals.

The main benefit of traditional IRAs is tax-deferred growth, which means that until you are compelled to begin taking distributions at age 72, you won't be taxed on your untaxed earnings or contributions. When investing in traditional IRAs, you put more money down front than you would in a standard brokerage account. With a Traditional IRA, your money can grow tax-free, but withdrawals are subject to ordinary income tax and you can't begin drawing distributions until you are 72. There are no income restrictions to open a Traditional IRA, in contrast to a Roth IRA. When striving to save enough money for retirement, it can be beneficial to do so via an IRA. Your money has a chance to grow, and there are tax advantages. Each little bit counts. An IRA might make sense if your employer doesn't have a retirement plan or if you work for yourself. IRAs have the ability to increase in value over time, just like all other investment forms. Annual contributions and investment growth are the two main ways an IRA can increase. There are restrictions on the maximum annual contributions that may be made, and not all long-term investments are profitable.

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