Answers
Answer:
the amount that debited to the cash account is $10,670
Explanation:
The computation of the amount that debited to the cash account is shown below:
= Account receivable - discount allowed
= $11,000 - $11,000 × 3%
= $11,000 - $330
= $10,670
Hence the amount that debited to the cash account is $10,670
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Related Questions
GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the specific demands of customers in affluent market segments. The company's approach is most likely referred to as ________.
Answers
The approach of the company for affluent market segments is known as target marketing.
The following information related to target marketing is:
Target marketing is the marketing where the company wants to sell its products to the end consumers. It is the marketing where the entire market should be broken down into various things and the planning is to be done accordingly.Therefore The approach of the company for affluent market segments is known as target marketing.
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Which of these might be an example of an advertiser's target group?
Answers
The example of an advertiser's target group is B.people the advertisers know nothing about.
What is advertiser's target group?The target audience an be desribed as the specific group of consumers that is in the position whereby they are the most likely to want the product or service, ther is been advertised and they can be considered as the people who should see the ad campaigns.
Ity shouldbe noted that the Target audience can be seen by using the gender, income, location, as well as interests and age which could depend on the product that is been advertised to them them.
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missing options;
A.People who have no access to media
B.people the advertisers know nothing about
C. People who watch a variety of TV shows
D. People who live in the same region of the country
On January 1, Sharp Company purchased $50,000 of Sox Company 6% bonds, at a time when the market rate was 5%. The bonds mature on December 31 in five years, and pay interest annually on December 31. Sharp plans to and has the ability to hold the bonds until maturity. Assume that Sharp uses the effective interest method to amortize any premium or discount on investments in bonds. At December 31, the bonds are quoted at 98.
Required:
a. Prepare the entry for the purchase of the debt investment on January 1, 2020.
b. Prepare the entry for the receipt of interest on December 31, 2020.
c. Record the entry to adjust the investment to fair value on December 31, 2020, if applicable
Answers
The journal entries to record the transactions for Sharp Company are as follows:
a) January 1, 2020:
Debit Bonds Receivable $50,000
Debit Bonds Premium $2,165
Credit Cash $52,165
To record the purchase of the debt investment.b) December 31, 2020:
Debit Cash $3,000
Credit Interest Revenue $2,608
Credit Bonds Premium Amortization $392
To record the receipt of interest.c) December 31, 2020:
Debit Fair Value Loss $1,000
Credit Bonds Receivable $1,000
To adjust the investment to fair value.What is a bond's premium?The bonds premium, in this case, refers to the excess cash that Sharp Company paid for the purchase of the bonds when the effective market rate is 5% with a coupon rate of 6%.
The implication is that Sharp Company paid more for the bonds than the market value.
Data and Calculations:Purchase of Sox Bonds = $50,000
PV = $52,165
Premium on bonds = $2,165
Interest rate = 6%
Market rate = 5%
Maturity period = 5 years
Interest payment = annually on December 31
Transaction Analysis:a) January 1, 2020: Bonds Receivable $50,000 Bonds Premium $2,165 Cash $52,165
b) December 31, 2020: Cash $3,000 Interest Revenue $2,608 Bonds Premium Amortization $392
c) December 31, 2020: Fair Value Adjustment $1,000 Bonds Receivable $1,000
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the wildlife department has been feeding special food to rainbow trout finger lings in a pond. A sample of weight of 40 trout revealed that the mean weight is 402.7 grams and the standard deviation 8.8 grams .
what is estimated mean wight of population? what is 99% confidence interval?,what degree of confidence is being used? interparet the result
Answers
We estimate the mean weight of the population to be 402.7 grams, with a 99% confidence interval of (398.77, 406.63) grams. The degree of confidence used is 99%.
To estimate the mean weight of the population of rainbow trout fingerlings, we can use the sample mean as an estimate. In this case, the sample mean weight is 402.7 grams.
Since the sample is a good representation of the population, we can consider this as our estimate for the population mean weight.
To determine the 99% confidence interval, we need to calculate the margin of error. The margin of error is given by multiplying the critical value (z*) with the standard deviation of the sample mean.
For a 99% confidence level, the critical value is 2.576 (obtained from a standard normal distribution table).
The margin of error is then calculated as 2.576 * (8.8 / sqrt(40)), which equals 3.932 grams. Therefore, the 99% confidence interval for the mean weight of the population is 402.7 ± 3.932, or approximately (398.77, 406.63) grams.
The degree of confidence used is 99%, meaning that if we repeated the sampling process multiple times, approximately 99% of the resulting confidence intervals would contain the true population mean weight.
In conclusion, we estimate the mean weight of the population to be 402.7 grams, with a 99% confidence interval of (398.77, 406.63) grams. This means we are 99% confident that the true population mean weight falls within this range.
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Where would your client navigate to view the status of a bill payment that was paid using Bill Pay powered by Melio?
Answers
Here are the steps:
Go to the Reports menu on the left pane.Select Bills and Applied Payments from the What you owe section.Click the Customize button at the top.Go to the Rows/Columns drop-down, and then check the box for the Tracking # and other info you want to include it.I hope this helps!!!
ways to increase job satisfaction for managers
Answers
Answer:
Rephrase please
Explanation:
explain effective implementation of plans in planning process model in an organization
Answers
Implementation of plans is the final step in the process of planning. This involves putting the plans into action so as to achieve the business objectives Implementation of plans requires establishment of policies, procedures, standards, budgets, etc.
2.02 What is the benefit of a 529 education saving plan?
Answers
earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out to pay for college.
Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
Answers
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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Sellers try to avoid the entry of new rivals through the use of demand-side strategies. These demand-side strategies do NOT include: raising the cost that customers face when they switch to a new seller of the product. generating network effects. building a good reputation with customers who are loyal. raising the market demand for the product.
Answers
The demand-side strategies that sellers use to avoid the entry of new rivals do not include C. raising the market demand for the product.
Demand-side strategies focus on markets and consumers instead of focusing on the firm's resources and suppliers.
Using any strategies for raising the market demand for the product will not benefit a competitive seller. Instead, they will entice new entrants into the market.
Thus, to avoid the entry of new rivals, sellers' usage of demand-side strategies does not include raising the market demand for the product.
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A(n) _____ layout arranges work flow around the production process. All workers performing similar tasks are grouped together.
Answers
Answer:
Process
Explanation:
A company's image and reputation, how the outside world sees the product or company, is also called the company's
A. value proposition.
B. brand
C.logo
D.inventory
Answers
What should each person do if the goal is to maximize the amount of fish and coconuts?
Answers
a. Billed customers for fees earned, $112,700.
b. Purchased supplies on account, $4,500.
c. Received cash from customers on account, $88,220.
d. Paid creditors on account, $3,100.
e. On October 12, fees earned on account were $14,600.
Required:
Journalize this transaction.
Answers
Answer:
C.
Explanation:
Magnificent Blooms is a florist specializing in floral arrangements for weddings, bo graduations, and other events. Magnificent Blooms has a fixed cost associated with space and equipment of $100 per day. Each worker is paid $50 per day. The daily production § function for Magnificent Blooms is shown in the accompanying table. © Macmil Submit All Quantity of labor (workers) 0 1 2 3 4 5 a. Calculate the marginal product of each worker. Quantity of floral arrangements 0 5 9 12 14 15 Marginal product Quantity of labor (workers) 1 2
Answers
The marginal product of each worker for Magnificent Blooms is as follows: Worker 0: N/A: Worker 1: 5: Worker 2: 4: Worker 3: 3: Worker 4: 2: Worker 5: 1
To calculate the marginal product of each worker for Magnificent Blooms, we need to determine the change in the quantity of floral arrangements resulting from each additional worker.
Here's how to calculate the marginal product for each worker:
Worker 0: Since there are no workers (0 workers), the quantity of floral arrangements is 0. Therefore, the marginal product for worker 0 cannot be calculated.
Worker 1: The quantity of floral arrangements with 1 worker is 5. To calculate the marginal product for worker 1, we subtract the quantity of floral arrangements with 0 workers from the quantity with 1 worker: 5 - 0 = 5.
Worker 2: The quantity of floral arrangements with 2 workers is 9. To calculate the marginal product for worker 2, we subtract the quantity of floral arrangements with 1 worker from the quantity with 2 workers: 9 - 5 = 4.
Worker 3: The quantity of floral arrangements with 3 workers is 12. To calculate the marginal product for worker 3, we subtract the quantity of floral arrangements with 2 workers from the quantity with 3 workers: 12 - 9 = 3.
Worker 4: The quantity of floral arrangements with 4 workers is 14. To calculate the marginal product for worker 4, we subtract the quantity of floral arrangements with 3 workers from the quantity with 4 workers: 14 - 12 = 2.
Worker 5: The quantity of floral arrangements with 5 workers is 15. To calculate the marginal product for worker 5, we subtract the quantity of floral arrangements with 4 workers from the quantity with 5 workers: 15 - 14 = 1.
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What does software alone enable a computer to do?
O connect to the Internet
O control processing speeds
O interact with the user
O manage other software
Answers
Answer:
its a
Explanation:
When John asked Melanie to babysit Saturday night, he told her that he would pay $7 per hour. She accepted and did the work but has not yet received the money. What type of contract was this
Answers
Answer:
Bilateral contract
Explanation:
I got it right on Edmentum :)
Suppose the price elasticity of supply for lumber is 2.4. If the price of lumber increases by 20% how much would the quantity supplied of lumber change
Answers
The quantity supplied of lumber would increase by 48% in response to a 20% increase in the price of lumber.
How to calculate by how much would the quantity supplied of lumber changeIf the price elasticity of supply for lumber is 2.4, then we can use the formula:
Elasticity of supply = percentage change in quantity supplied / percentage change in price
Solving for the percentage change in quantity supplied, we get:
Percentage change in quantity supplied = Elasticity of supply * Percentage change in price
Given that the price of lumber increases by 20%, the percentage change in price is 20%.
The percentage change in quantity supplied would be:
Percentage change in quantity supplied = 2.4 * 20% = 48%
Hence, the quantity supplied of lumber would increase by 48% in response to a 20% increase in the price of lumber.
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5. the price of trade suppose that slovenia and liechtenstein both produce olive oil and wheat. slovenia's opportunity cost of producing a bushel of wheat is 5 crates of olive oil while liechtenstein's opportunity cost of producing a bushel of wheat is 11 crates of olive oil. by comparing the opportunity cost of producing wheat in the two countries, you can tell that has a comparative advantage in the production of wheat and has a comparative advantage in the production of olive oil. suppose that slovenia and liechtenstein consider trading wheat and olive oil with each other. slovenia can gain from specialization and trade as long as it receives more than of olive oil for each bushel of wheat it exports to liechtenstein. similarly, liechtenstein can gain from trade as long as it receives more than of wheat for each crate of olive oil it exports to slovenia. based on your answer to the last question, which of the following prices of trade (that is, price of wheat in terms of olive oil) would allow both liechtenstein and slovenia to gain from trade? check all that apply. 1 crate of olive oil per bushel of wheat 3 crates of olive oil per bushel of wheat 7 crates of olive oil per bushel of wheat 15 crates of olive oil per bushel of whea
Answers
Slovenia and Lichtenstein would gain from trade if trade prices were favourable, such as the price of wheat relative to the price of olive oil.
What is meant by Prices of Trade?The amount that makers of goods charge retailers for their products, as in contrast to what shoppers normally pay in-store: I got my coat at a trade price straight from the factory.
A broad definition of trade costs includes costs associated with enforcement, exchange rates, legal and regulatory requirements, local distribution, transportation (including freight and time costs), communication, and other information costs.
Therefore, In each transaction, list the different amounts you paid for the stock, as well as the total number of shares you purchased. Subtract the number of shares involved in each transaction from the transaction's price.
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How do you build and maintain a positive credit history that leads to a high credit score? What changes could you make to improve yours?
Answers
Building and maintaining a positive credit history requires responsible borrowing and timely payments. To improve your credit score, you should pay your bills on time, keep your credit utilization low, maintain your credit accounts, diversify your credit mix, and avoid applying for too many credit accounts.
A credit score is a three-digit number that reflects your creditworthiness. It indicates how well you manage your finances and repay your debts. A high credit score indicates that you are a responsible borrower and are less likely to default on your loans.
As a result, you are more likely to be approved for loans and credit cards, and you will receive lower interest rates. Here are some ways to build and maintain a positive credit history that leads to a high credit score:
Pay your bills on time: Late payments have a significant impact on your credit score. To avoid late payments, set up automatic payments or payment reminders.
Keep your credit utilization low: Credit utilization is the percentage of your available credit that you use. To maintain a good credit score, it is recommended that you keep your credit utilization under 30%.
Keep your credit accounts open: The length of your credit history is an essential factor in determining your credit score. Therefore, it is recommended that you keep your credit accounts open as long as possible and use them regularly. However, if you have too many credit accounts, consider closing the ones that you don't use.
Improve your credit mix: Having a mix of different types of credit, such as credit cards, auto loans, and mortgages, can help improve your credit score.
Therefore, if you only have one type of credit, consider adding another type to your credit mix. Avoid applying for too many credit accounts: Applying for too many credit accounts in a short period can negatively impact your credit score.
Therefore, it is recommended that you only apply for credit when you need it and space out your applications over time.
In conclusion, building and maintaining a positive credit history requires responsible borrowing and timely payments. To improve your credit score, you should pay your bills on time, keep your credit utilization low, maintain your credit accounts, diversify your credit mix, and avoid applying for too many credit accounts.
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Answer:The best way to build a credit history is to borrow responsibly and open lines of credit through credit cards, home and or car loans. Once these lines of credit are open you want to maintain timely payments monthly as well as maintaining your monthly bills, so they do not go into collections. These monthly bills are things such as utilities and medical bills. This will help establish credit history and the longer these lines are open and have on-time payments you will gain and build your credit score. You want your utilization of the credit lines to remain low, not max them out and avoid having too many open lines. Another way to protect and a healthy score to avoid too many credit inquiries especially hard inquiries.
Some changes I would make to mine would be to pay off the accounts I have in collections, open one or two secure cards while only using a small percentage of the available credit and make the minimum monthly payment. and start making early payments to my student loans. Once I have accomplished this, I would like to finance a new vehicle and maintain on time and or early monthly payments.
Explanation:
If a new SUV that costs $50,000 and weighing 6,500 pounds is placed in service in 2012, the maximum Section 179 expense that can be taken is:
Answers
Answer:
$25,000
Explanation:
The financial reporting standards are introduced to guide the businesses to practice standard principles so that all perform same accounting practice. International Revenue code IRS has introduced various sections among which section 170 allows small businesses to deduct expense up to a certain limit. There is certain restriction for maximum expense deduction for SUV that is purchased. The maximum expense of $25,000 can be taken for a 6,500 pounds weighted SUV which costs $50,000.
After reading the paragraph below, answer the question that follows. Americans spend up to $100 billion annually for bottled water (41 billion gallons). The only beverages with higher sales are carbonated soft drinks. Recent news stories have highlighted the fact that most bottled water comes from municipal water supplies (the same source as your tap water), although it may undergo an extra purification step called reverse osmosis. Imagine two tanks that are separated by a membrane that's permeable to water, but not to the dissolved minerals present in the water. Tank A contains tap water and tank B contains the purified water. Under normal conditions, the purified water would cross the membrane to dilute the more concentrated tap water solution. In the reverse osmosis process, pressure is applied to the tap water tank to force the water molecules across the membrane into the pure water tank. If you shut off the system and pressure was no longer applied to tank A, you would expect
Answers
Office Max sells a desk for $450 and marks up the desk 35% on the selling price. What did the desk cost Office Max?
Answers
Answer:
Explanation:
Ok! hi:
1. Right 35% as fractions
35%= 35/100
2. Multiply by 450 to find mark up price
35/100*450=157.5
3. Add to 450$
450$+157.5$= 607.5$ as answer
Prepare Journal Entries in a Revenue Journal Horizon Consulting Company had the following transactions during the month of October: Oct. 2 Oct. 3 Oct. 14. Oct. 24 Oct. 29 Issued Invoice No. 321 to Pryor Corp. for services rendered on account, $380 Issued Invoice No. 322 to Armor Inc. for services rendered on account, $540. Issued Invoice No. 323 to Pryor Corp. for services rendered on account, $190. Issued Invoice No. 324 to Rose Co. for services rendered on account, $790 Collected Invoice No. 321 from Pryor Corp.
a. Record the October revenue transactions for Horizon Consulting Company in the following revenue journal format revenue journal Accounts Rec. Dr DATE Invoice No. Account Debited Post. Ref Fees Earned Cr Oct. 2 Oct. 3 Oct. 14 Oct. 24 Oct. 31
b. What is the total amount posted to the accounts receivable and fees earned accounts from the revenue journal for October? Accounts receivable Fees earned c. What is the October 31 balance of the Pryor Corp, customer account assuming a zero balance on October 1?
Answers
Answer and Explanation:
The recording and the computations are as follows
a. The recording of the October revenue transactions are shown below:
DATE INVOICE NO. ACCOUNT DEBITED POST.REF.
ACCOUNT REC. DR. FEES EARNED CR.
Oct 2 321 Pryor Co.
380
Oct 3 322 Armor Co.
540
Oct 14 323 Pryor co.
190
Oct 24 324 Rose co.
790
Oct 31 1900
b) Now the total amount for account receivable and fees earned is
Account receivable = 1900
Fees earned = 1900
c) The October 31 balance is
October 31 balance
= $380 + $190 - $380
= $190
How long should a résumé be
Answers
Answer:
Mark Brainliest
Explanation:
For most candidates, a resume should be only one page. Be brief and concise with anything you write on your resume. Customize your resume for the job you're applying for and include only relevant experience. If you've done everything right, you shouldn't get past one page
1. How do customers judge the quality of a supermarket? 2. Indicate how and why each of these factors is important to the successful operation of a supermarket: a. Customer satisfaction b. Forecasting c. Capacity planning d. Location e. Inventory management f. Layout of the store g. Scheduling 3. What are some of the ways Wegmans uses technology to gain an edge over its competition?
Answers
Answer:
1. How do customers judge the quality of a supermarket?
They judge the quality of a supermarket depending on their values and most urgent needs.
Customers who value quality, and even luxury, will say that a good supermarket is one that offers high quality products.
Customers who value price, will prefer a low-cost supermarket.
2. Indicate how and why each of these factors is important to the successful operation of a supermarket:
a. Customer satisfaction - a very important factor because it determines how well the supermarket is serving its customers.
b. Forecasting - the supermarket needs to forecast all sorts of things, from, sales forecasts, to profit forescasts, to costs forecasts.
c. Capacity planning - the supermarket needs to know what it is actually able to do, and what projects it can embark on, for this, it needs to do a lot of capacity planning.
d. Location - Location is extremely important for a supermarket. It determines a large part of the customer demand because customers prefer supermarkets to be close to where they live.
e. Inventory management - Supermarkets need to manage inventories carefully, specially because a lot of the goods that a supermarket sells, are perishables.
f. Layout of the store - The Supermakert needs to be careful when determining the layout of the store. Customers want a layout that is easy to navigate, and where goods are placed according to a coherent classification.
g. Scheduling - The supermarket needs to establish a convenient schedule for its customer base.
What are some of the ways Wegmans uses technology to gain an edge over its competition?
Wegmans is characterized for its early adoption of ground-breaking technologies. For example, recently Wegmans developed a mobile application to assist blind shoppers.
Discussion Topic
Present at least two paragraphs describing your thoughts about the course. This assignment is worth double points (10 points). Here are some points to help guide your reflections:
Your thoughts about the format of the course.
Your thoughts about the content.
Your thoughts about the assessments.
Anything else you would like to add?
Thanks for your reflections and feedback
Answers
I can locate all the components I need to create a professional with the proper academic foundation for this activity by looking at the framework of the journalism course.
The course structure enables all students to have the foundational knowledge needed to specialize in any journalistic writing they choose. This is also made feasible by the thorough, coherent, and pertinent material that is provided to students. In addition to providing crucial journalistic principles.
These materials enable the development of extremely beneficial discussions and debates for all students. The course uses the conventional methods of testing and essay writing for evaluation. However, I would like that the assessment take into account each student's capacity to contribute to class debates.
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Among 4 internationalization strategies (Global strategy, international strategy, Transnational strategy or multi-domestic strategy), what strategy should Vietnamese coffee company should use when joining the US coffee market?
Answers
The best strategy for a Vietnamese coffee company entering the US coffee market is an International Strategy. This strategy involves investing in a few countries and creating a standardized product to seek economies of scale. This allows the company to benefit from the size and scope of the market while reducing costs by taking advantage of differences in labor, taxes, and other costs. Additionally, this strategy can be used to create a global brand name that can be leveraged in other markets.
What leads to excess demand?
A. More people want a good or service than producers can supply.
B. Prices for a good or service increase more than consumers are willing
to pay.
C. Sellers decrease the prices of their goods or services.
D. The supply of a good or service is equal to the amount consumers want.
Answers
One major difference between a single-price monopolist (SPM) and a perfect price discrimination monopolist (PPDM) is that: OPPDM generates a deadweight loss whereas SPM does not SPM generates a deadweight loss whereas PPDM does not. OPPDM yields positive economic profits whereas SPM does not SPM generates excess supply whereas PPDM does not.
Answers
The correct answer to your question is that one major difference between a single-price monopolist (SPM) and a perfect price discrimination monopolist (PPDM) is that OPPDM generates a deadweight loss whereas SPM does not.
This is because perfect price discrimination allows the monopolist to charge each individual customer their maximum willingness to pay, resulting in no consumer surplus and therefore no deadweight loss. However, in a single-price monopolist situation, the monopolist charges a single price to all customers which results in some customers being priced out of the market and therefore a deadweight loss. It is important to note that while PPDM does not generate a deadweight loss, it does still result in a transfer of surplus from consumers to the monopolist and positive economic profits for the monopolist. One major difference between a single-price monopolist (SPM) and a perfect price discrimination monopolist (PPDM) is that:
SPM generates a deadweight loss whereas PPDM does not.
In a single-price monopolist scenario, the monopolist sets a single price for all consumers, leading to a reduction in consumer surplus and the creation of a deadweight loss. This deadweight loss is the result of the inefficiency caused by the monopolist's pricing strategy.
In contrast, a perfect price discrimination monopolist is able to charge each consumer the maximum price they are willing to pay for the product or service. This means that the monopolist is able to capture all of the consumer surplus, effectively eliminating the deadweight loss. Additionally, this strategy allows the PPDM to yield positive economic profits.
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