In scenario 2, the total cost of reducing pollution, if the firms are allowed to buy and sell permits from each other, is $4000.
In scenario 2, firms can buy and sell pollution permits from each other. Each permit allows a firm to produce a specific amount of pollution. For instance, suppose the government sets a pollution-reduction target of 20 units. Each firm is allotted 10 permits, allowing them to emit two units of pollution per permit.
Firm A has a pollution-reducing technology that is not as expensive as Firm B's. Firm A has chosen to reduce pollution by 10 units (using only five of its permits). Firm B has opted to reduce pollution by 5 units (using all ten permits). Firm A decides to sell the remaining permits (five units worth) to Firm B.
Firm A's total cost of reducing pollution is the cost of its own pollution-reducing technologies, which is $1000. Since Firm A sells five permits at $100 each, it earns $500. Thus, Firm A's total cost of reducing pollution is $1000 - $500, or $500.Firm B's total cost of reducing pollution is the cost of its pollution-reducing technologies, plus the cost of buying five permits from Firm A. The cost of Firm B's technology is $3000, and the cost of buying five permits at $100 each is $500. Firm B's total cost is $3000 + $500, or $3500.
The total cost of reducing pollution for both firms is $500 + $3500, or $4000.
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Upon dissolution of the partnership, one -third of the goes to each of its three founding partners. Since Partner Abel is deceased, his portion is split evenly among his four heirs. What portion of the company's value does each of these heirs receive?
Upon the dissolution of the partnership, the portion that would have gone to Partner Abel is split evenly among his four heirs, resulting in each heir receiving 1/4th (25%) of the company's value.
In this scenario, with three founding partners and the dissolution of the partnership, the value of the company is divided equally among the partners, resulting in each partner initially receiving 1/3rd (33.33%) of the company's value.
However, since Partner Abel is deceased, his portion is distributed among his four heirs.
Since the portion that would have gone to Partner Abel is now split evenly among his four heirs, each heir would receive an equal share. Therefore, each heir receives 1/4th (25%) of the company's value. This distribution ensures fairness and equal treatment among Partner Abel's heirs.
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Private student loans typically have a higher interest rate than federal student loans.a. trueb. false
True, Private student loans typically have a higher interest rate than federal student loans.
What is Private student loan?Federal student loans and private student loans are the two main categories. Loans from federal parent and student programs: The federal government provides the funding for these loans. Private students loan- These loans are made by a lender, such as a bank, credit union, state agency, or school, and are not government loans.
In comparison to federal loans, private loans—those from banks and lenders other than the federal government—have fewer borrower safeguards and are frequently more expensive. Additionally, they have the option of variable interest rates throughout the loan's term, unlike federal student loans.
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If imports are greater than exports, which of the following is true?
O Trade balance is positive resulting in a deficit
O Trade balance is negative resulting in a deficit
O Trade balance is positive resulting in a surplus
O Trade balance is negative resulting in a surplus
Answer:
Trade balance is negative resulting in a deficit
Explanation:
The difference between a country's value of imports and exports is known as the balance of trade. When imports of a country surpass the exports in a particular period, it is said to have a trade deficit. The balance of trade is negative should a country be a net importer.
A trade surplus is when a country is a net exporter. Should the value of a country's exports exceed the imports, the balance of trade is positive, and the country is said to have a trade surplus.
What qualities are valued for email by business managers who argue that emails should express no emotion
Allen Air Lines must liquidate some equipment that is being replaced. The equipment originally cost $7.5 million, of which 65% has been depreciated. The used equipment can be sold today for $3 million, and its tax rate is 25%. What is the equipment's after-tax net salvage value? Enter your answer in dollars. For example, an answer of $1.2 million should be entered as 1,200,000
Answer:
$2.9 million
Explanation:
Book value as on date of sale = Cost - Accumulated Depreciation = $7.5 million*(1 - 0.65) = $7.5 million*0.35 = $2,625,000
Gain on sale = $3,000,000 - $2,625,000 = $375,000
After-tax salvage value = Sale proceeds - Tax rate*Gain on sale) = $3,000,000 - ($375,000*0.25) = $3,000,000 - $93,750 = $2,906,250 = $2.9 million
the information from enrique is distressing. building and maintaining a sophisticated commodity hedging team would be prohibitively expensive; but you can’t leave holden evan exposed to future commodity price spikes. you wonder if there is a good way to outsource commodity price hedging to an outside firm with strong capabilities in this area. you’re also concerned about the wisdom of having a separate procurement team for each sbu. it is clear that combining the buying power of all three sbus would produce savings. what action will you take to more effectively manage commodity costs?
The action that one may take to more effectively manage commodity costs is to consolidate your three SBU procurement teams into one.
Enter into agreements with suppliers of energy, raw grains, and chemicals, to utilize their hedging expertise to protect Holden Evan against price spikes and earn fees based on the savings they generate for your company.
What is commodity cost?Commodities are in the majority of goods that are finally get to the hands of consumers, including tires, tea, orange juice, and clothing. Commodity cost is the will to set the sales price for commodity-based end items employing the market replacement cost of the main ingredient. Commodity items such as iron ore, coffee beans, and sugar, are items for which there is a demand across commodity trading markets.
Therefore, the correct answer is as given above.
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Please help I'm about to fail my class and i will be grounded for life, 100 pts for it! its financial literacy
Part One–Research
Imagine you bought 100 shares of stock three years ago and are selling it today. Select a company and research its stock prices. You can start with websites like Nasdaq and Fidelity. Determine the stock's price three years ago, or the purchase price, and its price today, or the selling price.
Part Two–Determine the Real Return
Calculate the real return of your stock investment using the following information:
Purchase price of 100 shares of stock
Selling price of 100 shares of stock
10% tax rate
3% inflation rate
2% administrative fee on the selling price of the stock
Part Three–Evaluate
Analyze your research and calculations, and answer the following questions:
What company did you select to buy stock in? Why did you select the company?
Consider the real return of the stock investment. Do you consider it a wise investment? Why or why not?
1. I imagine buying 100 shares of Amazon.com Inc. on January 3, 2020, when the stock price was $93.75, investing $9,375.
Today, October 31, 2022, the stock price of Amazon.com Inc. is $102.44.
2. The real return on my investment in Amazon.com Inc was a net loss of 7.12% or $667.60.
3. The company I selected to buy its stock three years ago was Amazon.com Inc.
4. I decided on Amazon.com Inc., hoping to earn spectacular returns since it is a multinational technology company.
5. When I consider the actual return on the stock investment in Amazon.com Inc., I think it was an unwise investment.
6. The investment returned a negative real value because I realized less than I initially invested; I actually lost about $667.60 overall.
What is the stock investment?Stock investment is the purchase of shares for an ownership interest in a publicly-listed company.
The investor makes the investment with the hope that the investee will grow and perform well over some period, enabling the investor to earn some real returns (in the form of dividends and capital appreciation).
Purchase of 100 shares Jan. 3, 2020 = $9,375 (100 x $93.75)
Sales of 100 shares Oct. 31, 2022 = $10,244 (100 x $102.44)
Tax (10%) = $1,024.40 ($10,244 x 10%)
Inflation (3%) = $307.32 ($10,244 x 3%)
Administration fee on sales (2%) = $204.88 ($10,244 x 2%)
Real Returns in dollars = $8,707.40 ($10,244 - $1,024.40 - $307.32 - $204.88)
Loss on returns = $667.60 ($8,707.40 - $9,375)
Loss percentage = 7.12% ($667.60/$9,375 x 100)
Unfortunately, Amazon.com Inc. did not pay any dividends during the period of my investment, and I really lost funds to taxes, inflation, and administration fees when I sold it.
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discuss the negative impact that crime has on businesses
Answer:
Crime has a significant negative impact on businesses around the world. It not only affects the business owner but also their employees and customers. The following are some of the ways in which crime impacts businesses.
Firstly, theft and burglary are common crimes that affect businesses. Thieves and burglars target businesses in the hope of making quick profits. The result is a loss of valuable and expensive equipment, inventory, and cash. Businesses can lose thousands of dollars due to theft and burglary. This loss often cannot be recovered, which affects the financial stability and profitability of the business.
Secondly, vandalism is another crime that affects businesses. Vandalism involves the destruction of property or assets and can happen for a variety of reasons, including revenge, vandalism, and theft. Such damage can be expensive to repair and can create a negative perception of the business in the eyes of its customers.
Thirdly, cybercrime is a modern type of crime that has significant effects on businesses. Many businesses now use technology for their day-to-day operations, which makes them vulnerable to cyber-attacks. Cybercriminals can attack a business's website, its payment systems, or email accounts, stealing sensitive information such as customer data, financial records, and intellectual property. Such attacks can lead to reputational damage and loss of trust, which ultimately affects the success or failure of the business.
Lastly, crime can create a sense of fear among employees and customers, which can lead to reduced sales and lower-levels of productivity. When employees are scared to come to work, they may call in sick or even quit their jobs, which makes it harder to run the business. Similarly, when customers perceive an unsafe environment, they often avoid returning to a particular business, which can also have a significant impact on the overall revenue of the business.
In conclusion, it's clear from the above that the negative impact of crime on businesses is significant. Business owners should take preventative measures to secure their premises, information, and employees, to protect the business from financial losses, reputational harm, and loss of clients. Moreover, the government must create policies to tackle crime and provide a safe environment for businesses to thrive.
Explanation:
hope i helped
23. The income statement for the year 2018 of Fugazi Co. contains the following information: The entry to close the revenue account includes a a. debit to Income Summary for 57,500. b. credit to Income Summary for $7,500. c. debit to Revenues for $70,000. d. credit to Revenues for $70,000. 24. A post-closing trial balance is prepared a. after closing entries have been journalized and posted. b. before closing entries have been joumalized and posted. c. affer closing entries have been journalized but before the entries are posted. d. before closing entrios have been joumalized but after the entries are posted. 25. On a classified balance sheet, cument assets are customarily listed a. in alphabetical order. b. with the largest dollar amounts first. c. in the order of liquidity. d. in the order of scquisition.
The entry to close the revenue account in Fugazi Co.'s 2018 income statement involves a credit to Income Summary for $7,500. Additionally, a post-closing trial balance is prepared after closing entries have been journalized and posted.
In the given scenario, option (b) is the correct answer. The entry to close the revenue account involves a credit to Income Summary for $7,500. This means that the revenue earned during the year is being transferred to the Income Summary account as part of the closing process.
Regarding the second question, a post-closing trial balance is prepared after closing entries have been journalized and posted. Closing entries are made at the end of an accounting period to reset the temporary accounts (such as revenue and expense accounts) to zero in preparation for the next accounting period. Once the closing entries are made and posted, a post-closing trial balance can be prepared to ensure that the books are in balance and to serve as a starting point for the next accounting period.
Finally, on a classified balance sheet, current assets are customarily listed in the order of liquidity. This means that the assets that are expected to be converted into cash or used up within one year or the operating cycle (whichever is longer) are listed first. This order helps users of the financial statements understand the relative availability and convertibility of the company's assets.
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Starbucks created the Starbucks College Achievement Plan that offers eligible
employees full tuition to earn a Bachelor's degree in partnership with Arizona State
University. This action represents the
dimension of social responsibility.
The aforementioned action represents the philanthropic activities dimension of social responsibility.
What is CSR?CSR is abbreviation for corporate social responsibility and it can be defined as a business organization's (company's) obligation to act in a manner that benefits and adds significant value to the society and the people living in the environment where it operates, and usually as it conduct its business operations.
Basically, corporate social responsibility (CSR) is typically focused on improving the society through any positive and beneficial means possible.
Corporate social responsibility requirements stages.Generally speaking, there are four different corporate social responsibility requirements stages and these include the following:
Financial and economic viability.Compliance with legal and regulatory requirements.Ethics, principles, and values.Philanthropic activities such as offering eligible employees full tuition, in order to enable them a Bachelor's degree.In this context, we can reasonably infer and logically deduce that the aforementioned action represents the philanthropic activities dimension of social responsibility.
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describe the process of career planning
Answer:
The career planning process involves taking the time to decide what your career goals are and how you'll get there. You might engage in this process on your own or with a guidance or career counselor. You can also start the career planning process at any point in your career.
Explanation:
Answer:
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Remember, this set of exercises is for you to practice. Just do your best. 1. What amount of money will you have accumulated after 5 years, if $35,000 is invested at 12% payable every two months? a. Now consider the bank offers you a nominal simple rate equivalent to 15%. Which one do you prefer and why? 2. At what effective interest rate must $11,500 pesos need to be deposited to have $13,000 available at the end of a 3 -month term? Consider that the interest is compounded daily 3. You want to invest $30,000 for the next 3 years. How much interests you pay in each option? (Don't forget to show your procedures) a. 15% nominal b. 18% payable semi annual c. 17% payable every 4 months d. 16.5% payable every 3 months 4. Estimate the effective rates of the previous exercise. 5. Estimate the effective rate that is payable every 3 months equivalent to a nominal interest rate of 18% payable semi annual.
An effective interest rate of 18.81% payable every 3 months is equivalent to a nominal interest rate of 18% payable semi-annually.
1. Using the formula FV = PV × (1 + i/m)mt, where FV is the future value, PV is the present value, i is the interest rate per period, m is the number of compounding periods per year, and t is the number of years, we can calculate the amount of money that will be accumulated after 5 years as follows: FV = $35,000 × (1 + 0.12/6)6×5= $76,195.76
The bank offers a nominal simple rate equivalent to 15%, which means that the annual interest rate is 15%. To compare the two options, we need to calculate the effective interest rate of the second option, which takes into account the compounding frequency. Using the formula ieff = (1 + i/m)m - 1, where ieff is the effective interest rate, we get:ieff = (1 + 0.15/1)1 - 1= 15%Since the effective interest rate of the second option is the same as its nominal rate, we can choose either option. However, the first option has a higher effective interest rate of 12.55%, which means that it will generate more interest over time.
2. Using the formula FV = PV × (1 + i)n, where FV is the future value, PV is the present value, i is the interest rate per compounding period, n is the number of compounding periods, we can calculate the interest rate required to have $13,000 available at the end of a 3-month term as follows:
$13,000 = $11,500 × (1 + i/365)365×3$13,000/$11,500
= (1 + i/365)365×3$1.1304
= (1 + i/365)1095ln(1.1304)
= ln(1 + i/365)1095ln(1.1304) × 365
= i × 3i = 0.1449 or 14.49%
Therefore, an effective interest rate of 14.49% per annum compounded daily is required to have $13,000 available at the end of a 3-month term.
3. The interest paid for each option is:
Nominal rate = 15%FV = $30,000 × (1 + 0.15/1)1×3= $40,500
Interest = $40,500 - $30,000 = $10,500
Payable semi-annually at 18%
Nominal rate = 18%/2 = 9%FV = $30,000 × (1 + 0.09/2)2×3= $41,654.89
Interest = $41,654.89 - $30,000 = $11,654.89
Payable every 4 months at 17%
Nominal rate = 17%/3 = 5.67%FV = $30,000 × (1 + 0.0567/3)3×3= $41,453.25
Interest = $41,453.25 - $30,000 = $11,453.25
Payable every 3 months at 16.5%
Nominal rate = 16.5%/4 = 4.125%FV = $30,000 × (1 + 0.04125/4)4×3= $41,118.39
Interest = $41,118.39 - $30,000 = $11,118.39
4. The effective rates of the previous exercise are:
Nominal rate = 15%
Effective rate = (1 + 0.15/1)1 - 1= 15%
Payable semi-annually at 18%
Nominal rate = 18%/2 = 9%
Effective rate = (1 + 0.09/2)2 - 1= 9.2025%
Payable every 4 months at 17%
Nominal rate = 17%/3 = 5.67%
Effective rate = (1 + 0.0567/3)3 - 1= 5.9937%
Payable every 3 months at 16.5%
Nominal rate = 16.5%/4 = 4.125%
Effective rate = (1 + 0.04125/4)4 - 1= 5.0759%
5. Using the formula ieff = (1 + i/m)m - 1, where ieff is the effective interest rate, i is the nominal interest rate, and m is the number of compounding periods per year, we get: ieff = (1 + 0.18/2)2 - 1= 18.81%
Therefore, an effective interest rate of 18.81% payable every 3 months is equivalent to a nominal interest rate of 18% payable semi-annually.
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what are two reasons why countries should remain focused on opening markets? (check all that apply.)
There are several reasons why countries should remain focused on opening markets. The following are two reasons why countries should remain focused on opening markets. The reasons are discussed below: Increase in competition and Opening up of markets leads to an increase in competition.
In a competitive environment, companies are forced to produce quality goods and services at reasonable prices. This leads to better quality products and services at a lower cost to consumers. A country that opens its markets to foreign competitors will benefit from the transfer of knowledge, skills, and technology.
This will allow the country to increase its efficiency and productivity.Growth of the economyOpening up markets creates opportunities for trade, investment, and economic growth. The growth of the economy can lead to an increase in tax revenue, which can be used to fund social programs such as healthcare, education, and infrastructure. Hence, opening up markets is beneficial for a country's economy.
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What are some ways to test scientific explanations by using experimental and observational testing?
Make an observation and inquire about a natural occurrence. Speculate, forecast the logical outcomes of your hypothesis, then test your hypotheses using controlled experiment, natural experiment, an observational study, or field experiment.
What is an observational study?In disciplines including epidemiology, social sciences, psychology, and statistics, observational studies extrapolate findings from a sample to the entire population even while the independent variable is not in the researcher's control due to ethical considerations or practical limitations. One typical observational study examines a person's potential response to a therapy, but the researcher has no control over which group the individual is placed in—the treated group or the control group. Contrast this with tests like randomized controlled trials, where each subject is arbitrarily assigned to either a treated group or a control group. Because there is no assignment mechanism in an observational study, inferential analysis is necessarily challenging.
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Which of the following is NOT an example of a metric
?
Answer:
can you tell me what the choices are and I'll answer in the comments
Explanation:
floor gang aooh sub to pewdiepie
Differentiate between economic and non economic activity with example.
Answer:
Economic activity refers to a human activity related to production and consumption of goods and services for economic gain. Non-economic activity is an activity performed gladly, with the aim of providing services to others without any regard to monetary gain. Economic, i.e. to earn money.
Explanation:
Answer:
Economic activities are performed for economic motive, i.e. earning profit. Any activities involving money or the exchange of products or services are economic activities.For instance, running a small business is a great example of economic activity.
On the other hand, non-economic activities are performed due to social or psychological reason. These are those activities which do not give income in return. They also do not contribute to the flow of goods and services in the economy.
Explanation:
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According to the digital disconnect and the lecture, the global digital divide is the result of _____.
According to Digital Disconnect, the global digital divide is the result of the hyper-commercialization of Internet development that only serves affluent populations/groups.
The Digital Disconnect refers to experts' examination of current theory, research, and practice in socio-digital inequality. The Digital Disconnect provides a thorough analysis of capitalism's exploitation of the Internet. As per the Digital Disconnect, it is the hypercommercialism of mainstream computing technologies that causes the global digital divide. The global digital divide refers to global discrepancies, particularly between developing countries, and developed in access to computing and information resources such as the Internet, as well as the opportunities that such access provides.
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in 2019, online retail sales reached over $365 , or approximately percent of all retail sales.
In 2019, online retail sales reached over $365 billion, or approximately 11.5% of all retail sales.
This is a significant increase from the previous year when online retail sales were estimated to have reached around $341.7 billion. This increase can be attributed to a number of factors, including the rise of mobile commerce, increased access to broadband internet, and the growth of social media as a platform for marketing and sales.
Additionally, the proliferation of e-commerce platforms such as Amazon, eBay, and Alibaba have made it easier for businesses to reach new customers, and for customers to purchase products and services with greater convenience.
Overall, these trends have helped to drive the growth of online retail sales and demonstrate the potential for continued growth in the future.
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explain why accounting is important to business stakeholders
Answer:
the purpose of accounting is to help stakeholders make better business decisions by providing them with financial information.
b) They hire a new employee and after orientation, they collect the person's state
ID, social security number, and other important documents. At this point, what
responsibility do the two friends have as it pertains to regulation? Which guidelines
does this correspond with? (2 points)
Based on the given information, The guidelines do correspond with General Data Protection Regulation highlighting personal information.
As the context seems incomplete the answer is written in generalise manner.
When new employees start working for a firm, their personal information and other sensitive data must be collected and stored in accordance with numerous requirements to preserve their privacy and security.
The General Data Protection Regulation (GDPR), is a comprehensive data protection law that applies to firms operating in the European Union (EU) and the European Economic Area (EEA).
The GDPR requires businesses to seek explicit consent from individuals before collecting and processing their personal information, as well as to adopt sufficient technical and organizational safeguards to secure that data from unauthorized access or disclosure.
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___ board is a water-resistant material used as a backing for ceramic tile in areas that have high moisture content, such as near a shower, tub or spa.
a) Wet
b) Green
c) Blue
d) Bypsum
Gypsum board is a water-resistant material used as a backing for ceramic tile in areas that have high moisture content, such as near a shower, tub or spa.
What is Gypsum ?
With the chemical formula CaSO 2H2O, gypsum is a soft sulfate mineral made of calcium sulfate dihydrate. It is widely mined, used as fertilizer, and the primary component of numerous plaster, sidewalk or blackboard chalk, and drywall products.
For usage as plaster of paris and as construction materials in plaster, Keene's cement, board products, tiles, and blocks, around three-fourths of the entire production is calcined.
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Electricity costs that were incurred by a company's production processes should be debited to:a) Utilities Expense.b) Accounts Payable.c) Cash.d) Manufacturing Overhead.e) Work-in-Process Inventory.
A company's manufacturing overhead account should be debited for electricity expenses that were spent during production processes. The correct answer is d.
The reason for this is that electricity costs incurred during a company's production processes are considered indirect costs of manufacturing, meaning they are not directly traceable to a specific product or service. Therefore, they are allocated to the Manufacturing Overhead account and then applied to the various products or services the company produces.
The manufacturing overhead account is a holding account for the real overhead expenses paid (debits) and applied to work-in-process (credits) that were really incurred. o As they are incurred, actual overhead expenses are recorded in the account. o As the jobs move through the production process, the applied overhead charges are deducted from the account.
Electricity costs incurred during production should be charged to a company's manufacturing overhead account. The correct option is d.
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the gosports company is a profit-maximizing firm with a monopoly in the production of school team pennants. the firm sells its pennants for $10 each. we can conclude that gosports is producing a level of output at which: group of answer choices marginal cost equals marginal revenue. average total cost equals $10. marginal revenue equals $10. average total cost is greater than $10.
The Go Sports Company, as a profit-maximizing monopolist, would produce at a level where marginal cost (MC) equals marginal revenue (MR).
Here's a step-by-step explanation:
1. Monopolists, like competitive firms, aim to maximize profits.
2. Profit maximization occurs when the difference between total revenue (TR) and total cost (TC) is the largest.
3. To achieve this, firms should produce at a level where the additional revenue from producing one more unit (marginal revenue) equals the additional cost of producing that unit (marginal cost).
4. In this scenario, GoSports sells pennants for $10 each. However, we cannot conclude that MR or average total cost (ATC) equals $10 without more information.
5. Thus, the most accurate statement is that Go Sports is producing at a level where marginal cost equals marginal revenue (MC = MR).
In summary, for a profit-maximizing monopolist like Go Sports Company, it is important to produce at a level where marginal cost equals marginal revenue, as this ensures maximum profit.
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the price elasticity of demand depends on
Answer:
...price levels, the type of product or service, income levels, and the availability of any potential substitutes.
If Alby's leases equipment directly from the equipment's manufacturer the lease must be a:
A. leveraged lease.
B. sales and leaseback arrangement.
C. capital lease.
D. sales-type lease.
E. bargain lease.
The answer to this question will be
(C capital lease.
If Alby's leases equipment directly from the equipment's manufacturer, the lease would be classified as a capital lease. A capital lease is a type of lease arrangement where the lessee (in this case, Alby's) assumes many of the risks and rewards associated with ownership of the equipment. It is considered as a long-term financing arrangement and meets certain criteria set forth by accounting standards, typically resulting in the lessee recognizing the leased equipment as an asset on their balance sheet.
In a capital lease, the lessee bears the risks of ownership such as maintenance costs, insurance, and obsolescence, while also enjoying the benefits of using the leased equipment. Since Alby's is leasing directly from the manufacturer, it implies a long-term commitment to utilize the equipment for a substantial period.
Capital leases are typically non-cancelable agreements that extend for a significant portion of the equipment's useful life. These leases often include a bargain purchase option, allowing the lessee to purchase the equipment at the end of the lease term at a price below its fair market value.
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On March 1, Poff’s Co., a women’s clothing store, purchased $73,600 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. On March 5, Poff’s returned $8,700 of the merchandise, receiving a credit memo, and then paid the amount due on March 9, within the discount period.
Journalize Poff’s entries to record (a) the purchase, (b) the merchandise return, and (c) the payment. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered.
Poff's Co. recorded the purchase of merchandise by debiting Merchandise Inventory and crediting Accounts Payable, the merchandise return by debiting Accounts Payable and crediting Merchandise Inventory, and the payment within the discount period by debiting Accounts Payable and crediting Cash.
The journal entries to record the purchase, merchandise return, and payment for Poff's Co. can be recorded as follows:
(a) Purchase:
Date Account Debit Credit
March 1 Merchandise Inventory $73,600
Accounts Payable $73,600
(b) Merchandise Return:
Date Account Debit Credit
March 5 Accounts Payable $8,700
Merchandise Inventory $8,700
(c) Payment within Discount Period:
Date Account Debit Credit
March 9 Accounts Payable $64,832 ($73,600 - $8,700 x 0.98)
Cash $63,335 ($64,832 x 0.98)
In the purchase entry (a), the Merchandise Inventory account is debited to increase the inventory value, and the Accounts Payable account is credited to record the liability for the purchase.
In the merchandise return entry (b), the Accounts Payable account is debited to reduce the liability for the returned merchandise, and the Merchandise Inventory account is credited to decrease the inventory value.
In the payment entry (c), the Accounts Payable account is debited for the net amount due after deducting the return and discount ($73,600 - $8,700 x 0.98), and the Cash account is credited for the amount paid within the discount period ($64,832 x 0.98).
These journal entries accurately reflect the purchase, merchandise return, and payment transactions for Poff's Co.
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Do you see yourself working as a channel manager in the future?
Introduction Develop an introductory paragraph keeping in mind that research is important when choosing your Stock Market Game portfolio and investing successfully for your own future.
Equity purchasing and selling decisions are made by investors and traders utilizing stock analysis. Investors and traders can obtain an advantage in the markets and make wise judgments by analyzing and comparing historical and current data. It is crucial to do your research on the stock market before you invest.
What is Stock Market Game?The Stock Market Game is a virtual recreation of the world's capital markets that introduces economics, investing, and personal finance to children in grades 4 through 12. It has helped approximately 20 million kids get ready for a future when they can support themselves financially.
By simulating the stock and bond markets, it introduces young people to investing and saving. Students get access to a $100,000 virtual financial portfolio that they can trade and manage.
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Which of these is not a pathway in the Business Management & Administration cluster?
A.) General Management
B.) Business Information Management
C.)Teaching and Training
Answer:
C.
Explanation:
. How are jobs created in different economic systems?
• Market
• Mixed
• Command
Traditional
Answer:
it depends
Explanation:
it depends on the area the person stays