Required information E2-9 (Algo) Analyzing the Effects of Transactions in T-Accounts LO2-4 [The following information applies to the questions displayed below] Griftin Service Company, Incoeporated, was organized by Bennett Griffin and five other investors (that is, six in tota9). The following activities occurred during the year:
a. Recelved $80,000 cash from the six investors; each investor was issued 9,400 shares of common stock with a par value of $010 per share. b. Signed a five-year lease for $165,000 for the right to use a bullding each year. c. Purchased equipment for use in the business at a cost of $28,000; one-fourth was poid in cash and the company signed a note for the bolance (due in six months).
d. Signed an agreement with a cleaning service to pay $220 per week for cleaning the corporate offices next year. e. Recelved an additional contribution from investors who provided $4,000 in cash and land valued at $25,000 in exchange for 2,000 shares of stock in the company.
f. Lent $3,500 to one of the investors, who signed a note due in six months. g. Bennett Griffin borrowed $8.000 for personal use from a local bank, signing a one-year note.
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The T-accounts of Griftin Service Company, Inc. are as follows:
1. Cash
Debit: $8,400
Credit: $80,000
2. Equipment
Debit: $28,000
3. Notes Payable
Debit: $7,000
Credit: $7,000
4. Leasehold Improvements
Debit: $165,000
Credit: $165,000
5. Accounts Payable
Debit: $11,440
Credit: $11,440
6. Wages Expense
Debit: $52,640
Credit: $52,640
7. Rent Expense
Debit: $165,000
Credit: $165,000
8. Contributed Capital
Debit: $29,400
Credit: $29,400
9. Contributed Capital
Debit: $25,000
Credit: $25,000
10. Equipment
Debit: $3,500
Credit: $3,500
11. Loan Payable
Debit: $8,000
Credit: $8,000
12. Notes Payable
Debit: $21,000
Credit: $28,000
Credit: $7,000
The T-accounts provide a visual representation of the transaction effects on various accounts. They help in identifying whether an account has a debit or credit balance.
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Related Questions
A. Multiple Choice: Choose the correct 1. Many farmers may forget to check the troubleshooting section, which can cost them even more time out of the field. a. Not reading the Operator's Manual b. Improper Maintenance c. Poor electrical connection d. Overrunning machines capability e. Not replacing wom out when needed
Answers
Answer:
E.Not replacing whom out when Needed
In 2009 dollars, u. S. Gdp was $1057 billion at the start of the great depression but fell to $778 billion by 1933. What percentage decline does this represent?.
Answers
The percentage decline in the US GDP from 1933 to 2009 is 26.4%.
What is the percentage change in US GDP?
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
Percentage change in GDP = (778/1057)- 1 = 26.4%
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please i need help with this !!
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Answer:
Save
Measure
Notes
Services
Money
Barter
Swapped
Forms
What is the asset adjustment to a bank's balance sheet if the bank sold a five-year, 7 percent annual coupon $100,000
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When a bank sells a financial asset such as a bond, the transaction affects the bank's balance sheet by changing the composition of its assets and liabilities.
In the case of a five-year, 7 percent annual coupon $100,000 bond, the bank will receive $100,000 in cash from the buyer of the bond. This cash is recorded as an increase in the bank's cash asset on the balance sheet.
At the same time, the bank will record a decrease in the bond asset on the balance sheet, since the bond has been sold and is no longer owned by the bank.
The amount of the decrease in the bond asset will depend on the original purchase price of the bond and any accrued interest that has been earned.
If the bank purchased the bond at par value and has held it for a year, the original purchase price would be $100,000 and the accrued interest earned would be $7,000 (7 percent of $100,000 for one year).
The total decrease in the bond asset on the balance sheet would therefore be $107,000 ($100,000 purchase price + $7,000 accrued interest) and the increase in cash would be $100,000.
In summary, the asset adjustment to a bank's balance sheet if the bank sold a five-year,
7 percent annual coupon $100,000 bond would be a decrease in the bond asset by the purchase price and accrued interest earned, and an increase in the bank's cash asset by the sale price of the bond.
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Zachary Educational Services had budgeted its training service charge at $71 per hour. The company planned to provide 23,000 hours of training services during 2019. By lowering the service charge to $56 per hour, the company was able to increase the actual number
of hours to 24,500.
Required a. Determine the sales volume variance, and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no effect
(i.e., zero variance).) b. Determine the flexible budget variance, and indicate whether it is favorable (F) or unfavorable (U). (Select "None" if there is no
effect (i.e., zero variance).)
c. Did lowering the price of training services increase revenue?
Answers
If the actual revenue is higher than the budgeted revenue, it indicates that lowering the price of training services increased revenue. If the actual revenue is lower than the budgeted revenue, it indicates that lowering the price of training services decreased revenue. In this case, we can compare the actual revenue (calculated in part b) with the budgeted revenue (calculated in part a).
a. The sales volume variance is the difference between the budgeted sales revenue and the actual sales revenue. To calculate the sales volume variance, we need to compare the budgeted sales revenue with the actual sales revenue. In this case, the budgeted service charge was $71 per hour and the company planned to provide 23,000 hours of training services during 2019.
Budgeted sales revenue = Budgeted service charge * Budgeted number of hours
Budgeted sales revenue = $71/hour * 23,000 hours
To find the actual sales revenue, we need to consider the actual service charge and the actual number of hours provided. The service charge was lowered to $56 per hour and the actual number of hours provided was 24,500.
Actual sales revenue = Actual service charge * Actual number of hours
Actual sales revenue = $56/hour * 24,500 hours
Now we can calculate the sales volume variance:
Sales volume variance = Actual sales revenue - Budgeted sales revenue
b. The flexible budget variance is the difference between the flexible budgeted revenue and the actual revenue. The flexible budget is prepared by multiplying the actual units of activity by the budgeted sales price. In this case, the actual units of activity are 24,500 hours and the budgeted sales price is $71 per hour.
Flexible budgeted revenue = Budgeted sales price * Actual units of activity
Flexible budgeted revenue = $71/hour * 24,500 hours
Now we can calculate the flexible budget variance:
Flexible budget variance = Actual revenue - Flexible budgeted revenue
c. To determine if lowering the price of training services increased revenue, we need to compare the actual revenue with the revenue that would have been earned if the price had not been lowered. We can compare the actual revenue with the budgeted revenue.
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Through a comparable company analysis for Alibaba, you determined a P/E ratio of 6.0x is appropriate to value the company. Based on this metric, what is the implied Enterprise Value of Alibaba?
Answers
Answer:
hello your question is incomplete attached below is the complete question
answer : $ 1,391.692 ( first option )
Explanation:
Given P/E ratio = 6.0
Determine Implied Enterprise value
Implied Enterprise value = (EBITDA * P/E ratio ) + Net debt (cash )
where EBITDA = $205.663
P/E ratio = 6
Net debt = $157.714
hence Implied Enterprise value = (205.663 * 6)+ 157.714 ≈ $ 1,391.692
NOTE : all $ values are in millions
The implied Enterprise Value of Alibaba is $740,366
The calculation is as follows:Implied equity value = NTM earnings × P/E ratio
= $149,680 × 6.0
= $898,080
Now Implied enterprise value
= Implied equity value + Net debt
= $898,080 - $157,714
= $740,366
Therefore we can conclude that The implied Enterprise Value of Alibaba is $740,366
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State and explain in detail the emerging issues in Management Accounting
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Emerging issues in management accounting refer to the current and evolving trends, challenges, and areas of focus within the field of management accounting.
These issues often arise due to changes in business environments, advancements in technology, evolving regulations, and the need to provide relevant and timely information for effective decision-making. Here are some key emerging issues in management accounting:
Sustainability and Environmental Accounting: With the increasing emphasis on sustainability and environmental responsibility, organizations are incorporating environmental accounting practices into their management accounting systems. This includes measuring and reporting environmental costs, evaluating the environmental impact of business operations, and integrating sustainability goals into decision-making processes.
Big Data and Analytics: The availability of large volumes of data and advancements in data analytics have revolutionized management accounting. Organizations are leveraging big data to improve forecasting, identify trends and patterns, perform predictive analysis, and support strategic decision-making. Data analytics tools help extract actionable insights from complex datasets and enable better financial planning, risk assessment, and performance evaluation.
Integrated Reporting: Integrated reporting aims to provide a comprehensive and holistic view of an organization's performance by combining financial, environmental, social, and governance information in a single report. This emerging approach promotes transparency, accountability, and a broader understanding of an organization's value creation beyond financial metrics.
Risk Management: Risk management is becoming increasingly critical for organizations to navigate uncertainties and safeguard their financial and operational objectives. Management accountants are playing a crucial role in identifying and assessing risks, developing risk management strategies, and implementing effective control systems. Risk-focused management accounting techniques such as enterprise risk management (ERM) and risk-based performance management are gaining prominence.
Digital Transformation and Automation: The digital transformation of business processes is reshaping management accounting practices. Automation tools, artificial intelligence, and robotic process automation are streamlining routine tasks, improving data accuracy, and enabling real-time reporting. Management accountants need to adapt to digital technologies, embrace data-driven decision-making, and develop skills in data management, data analysis, and technology integration.
Changing Role of Management Accountants: The role of management accountants is evolving from traditional financial reporting and cost analysis to strategic business partners. Management accountants are increasingly involved in strategic planning, performance management, risk assessment, and providing insights for decision-making. They need to possess strong analytical skills, business acumen, and communication abilities to effectively collaborate with different stakeholders and contribute to organizational success.
Ethical Considerations: Ethical issues in management accounting, such as ethical decision-making, conflicts of interest, and professional integrity, continue to be important. Organizations and management accountants are focusing on ethical guidelines, and professional codes of conduct, and promoting a culture of ethics to ensure ethical practices in financial reporting, budgeting, and decision-making processes.
It is important for management accountants and organizations to stay updated on these emerging issues and adapt their practices accordingly. Embracing these trends can help organizations gain a competitive advantage, improve decision-making processes, and drive sustainable growth in a rapidly changing business landscape.
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methods of measuring national income
Answers
Answer:
3ethods r there. Income measure, product measure and expenditure measure.
Explanation:
Expenditure method: Advertisement
Income measure:In this method national income is measured as the flow of factors income
Product measure:
In this method, national income is measured as a flow of goods and services. We calculate money value of all final goods and services produced in an economy during a year. ...
global strategy is an integrated strategy based primarily on price competition
Answers
The given statement "global strategy is an integrated strategy based primarily on price competition" is false. A global strategy is an integrated strategy based on the location of operations and the responsiveness of those operations to the business environment, and it's not solely based on price competition.
What is Global Strategy?A global strategy refers to a business's overall plan for expanding internationally and establishing a presence in foreign markets. It includes a set of guidelines and practices that ensure consistency throughout the organization's worldwide operations.
In addition, it may refer to a plan for aligning the company's resources and capabilities with its target markets' characteristics and demands, as well as taking advantage of economies of scale. Global strategies are often differentiated from local or regional strategies that emphasize adaptation to specific markets.
Price competition isn't the primary focus of global strategy, but rather an important aspect of any competitive strategy. The primary focus of the global strategy is to find the most efficient and effective way to conduct business across different countries and cultures, ensuring that a company's operations are consistent and in line with its overall goals and objectives.
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Read the case study on McDonald’s on p. 453. 4. Explain what you see as McDonald’s future competitive position relative to strategic moves by Burger King, Wendy’s, Subway, Carl’s Jr., and Jack-in-the-Box.ECN in 500 Managerial Economics
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McDonald's future competitive position seems promising due to its strong market share, brand recognition, menu innovation, pricing strategy, and international expansion. However, it should continue to adapt to changing consumer preferences and monitor the strategic moves of competitors to maintain its competitive edge
McDonald's future competitive position relative to strategic moves by Burger King, Wendy's, Subway, Carl's Jr., and Jack-in-the-Box can be analyzed based on various factors:
1. Market Share: McDonald's currently holds a significant market share, which gives it a strong competitive advantage. This allows McDonald's to invest in research and development, marketing campaigns, and expansion strategies.
2. Brand Recognition and Loyalty: McDonald's has established a globally recognized brand, supported by a loyal customer base. This gives McDonald's an edge over its competitors, as customers often choose familiar brands over new ones.
3. Menu Innovation: McDonald's has been continuously innovating its menu, introducing new items and catering to changing consumer preferences. This allows McDonald's to attract customers and differentiate itself from competitors.
4. Pricing Strategy: McDonald's offers a wide range of products at different price points, making it accessible to a diverse customer base. This pricing strategy helps McDonald's remain competitive against other fast-food chains.
5. International Expansion: McDonald's has a strong global presence, with a well-established network of franchises. This international expansion allows McDonald's to benefit from economies of scale and further strengthen its competitive position.
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your new job is at an office where the workers seem happy, creative, and supportive. workers engage in group projects and share ideas freely with each other and the manager. this work environment may be the outcome of which type of leadership?
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The workers engage in group projects and share ideas freely with each other and the manager. This work environment may be the outcome of democratic leadership.
What is leadership?The term “leadership” refers to leading the team. The team's leadership is in charge, and they have influenced the team members to complete the task. The leadership qualities are maintained and are built into the behavior.
According to the democratic leadership, was to encourage the member of the organization are the share the opinion and the ideas. The appreciation of the innovative idea. The share idea as the without any fear.
As a result, the significance of the leadership are the aforementioned.
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Erica's Country Furniture sells wooden chairs for $179.49. It buys the chairs from a craft shop for $87.49 each. Its overhead rate is 28%. What is the net profit rate for each chair?
Answers
Answer:
60.28%
Explanation:
The selling price per chair = $179.49
buying price per chair = $87.49
the overhead rate is 28%
Actual overheard = 28% x $87.49
=28/100 x 87.49
=0.28 x 87.49
=$24.4972
total cost price per chair = $87.49 + $24.4972
=$111.98
profit per chair
= $179.49 - $111.98
=67.51
Profitability rate = 67.51/111.98 x 100
=60.28%
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Can someone please explain the different types of stock:
- Income
- Growth
- Common
- Preferred
Answers
Explanation:
Income definitions
The definition of income is the amount of money received by a person, group or company during a certain period of time. An example of an income is a $70,000 a year salary. noun.
The definition of Grownth is development; gradual increase. size or stage of development: It hasn't yet reached its full growth. completed development. development from a simpler to a more complex stage: the growth of ritual forms.
The definition of Common is belonging equally to, or shared alike by, two or more or all in question: common property;common interests. pertaining or belonging equally to an entire community, nation, or culture; public: a common language or history;a common water-supply system.
The definition of Preffered is : used or wanted in preference to others a preferred method 'Leveled' is the preferred spelling in American English. 2 : having special status or receiving special treatment or benefits preferred customers.
In the Management in Action case, CEO Neumann had ________ power in the company because he could increase employee compensation.
Multiple Choice
reward
coercive
referent
expert
Answers
In the Management in Action case, CEO Neumann had reward power in the company because he had the ability to increase employee compensation.
Reward power is a type of power that comes from the ability to provide rewards or incentives to others. In this case, Neumann had the authority to decide on employee compensation and could use this power to motivate employees to perform better and achieve the company's goals. This power can be effective in motivating employees, but it also carries the risk of creating a culture of entitlement and dependency on rewards. It is important for leaders to use reward power judiciously and in a way that aligns with the company's values and objectives.
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Which of the following could be a trade secret?
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where are the questions there are not questions
how am i supposed to help you if there is no questions
What are human rights
Answers
mention 5 functions of distribution channels
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Answer:
movement of goods
information provider
negotiation
financing
risk taking
Explanation:
a distribution channel is a chain of businesses through which a good or service passes until it reaches to the final consumer. hope it helps
Movement of goods, information provider, negotiation, financing and risk taking are the five functions of distribution channels.
What is distribution channels?A product or service could travel down a distribution channel to reach the market. A direct distribution channel is defined. A corporation can sell to customers directly through a direct distribution channel, which is typically a website or physical store.
Wholesalers, retailers, distributors, and the Internet are examples of distribution channels. The manufacturer sells directly to the customer through a direct distribution channel. Before the product reaches the customer, indirect routes use a number of middlemen.
Channels of distribution are crucial to organizations because they enable efficient delivery of products or services to clients. Unhappy customers and a subpar service may result from a firm failing to find the best group of businesses for this reason.
Thus, Movement of goods, information provider, negotiation, financing and risk taking.
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How can you tell if a guy doesnt put the effort in being with you anymore, its online and long distant cause he lives 8 hours away from me and were both 17 have already experienced heartbreak, it was great and fun at first and he was so shy and loving and wanted to meet but now he’s dodging to see eachother and every night we call before we both go to bed and sleep while on call but after my mother passed away June 29th hes been distant and mostly plays his game Smite idk if he’s serious about me i mean he tells me he loves me and ofc i love him back hes my entire world in my mind, im always very wholesome with him he says but when i ask how he feels he says he doesnt know and i dont show it to him but that kinda hurts when the guy doesnt know... anyway if you have any advice please tell me im desperate and i cant seem to keep my feelings from leaking out and it just hurts i dont wanna tell him cause then he will be upset and i dont want that..
Answers
Answer:
his body language would change around you and when a guy says he doesnt know means he doesnt know hes processing about how he really feels about you.
why do people have to be so mean to other people ?
Answers
Answer:
is because they don't have what people have and and it makes them jealous
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?
Answers
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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a) Use your understanding to explain the difference between ‘operational energy/emissions’ and ‘embodied energy/emissions’ in the building sector.
b) Provide three detailed carbon reduction strategies architects or builders could apply to minimise operational carbon footprint.
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a.) a) Operational energy/emissions in the building sector refers to the energy consumed and emissions produced during the day-to-day operation of a building.
b) Three carbon reduction strategies for architects or builders to minimize operational carbon footprint are: implementing energy-efficient design principles, integrating renewable energy systems, and improving building envelope performance.
a) Operational energy/emissions in the building sector are related to the energy consumption and associated emissions during the ongoing operation of a building. This includes the energy used for heating, cooling, lighting, appliances, and ventilation. Operational emissions are typically a result of burning fossil fuels or using electricity generated from fossil fuel sources.
Embodied energy/emissions, on the other hand, take into account the energy and emissions associated with the entire lifecycle of building materials and components. This includes the extraction of raw materials, manufacturing processes, transportation, and assembly. Embodied emissions are often attributed to energy-intensive manufacturing and transportation processes involved in creating building materials.
b) One carbon reduction strategy is to implement energy-efficient design principles. This involves optimizing the building's orientation, insulation, shading, and natural ventilation to reduce the need for mechanical heating, cooling, and lighting. Additionally, using energy-efficient appliances, lighting fixtures, and HVAC systems can further optimize energy use during operation.
Another strategy is the integration of renewable energy systems. Installing solar panels, wind turbines, or geothermal systems can generate clean electricity on-site, reducing the reliance on fossil fuel-based grid electricity and minimizing operational emissions.
Improving the building envelope's performance is another effective strategy. Enhancing insulation and airtightness of the building envelope minimizes heat loss or gain, reducing the energy required for heating and cooling. Utilizing high-performance windows, thermal insulation materials, and advanced sealing techniques can significantly improve the building's energy efficiency and decrease operational energy consumption. Implementing these strategies enables architects and builders to reduce the operational carbon footprint of buildings, resulting in lower energy consumption, cost savings, and a more sustainable built environment.
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What does setting a personnel policy before hiring employees allow you to do?
A. Provide employee salary information
B. Establish length of employment for each company department
C. Set expectations for employee behavior
D. Establish records of employee work behavior
Answers
Answer:
D
As it helps in appraising the employees weekly, monthly, or yearly work behavior.
3. If a focus group is convened in the second phase of a new product development project, what is information the group is MOST expected to discuss? what type of ads should be used for the product a N the pricing scheme for the product how the product should be made how much it costs to make the product.
Answers
Answer: how much it costs to make the product.
Explanation:
The first phase of new idea development would involve finding out how to produce the product because that is where the product is first come up with.
The second phase would see them screen the product and this would involve finding out how much it would cost so that they will know if it is best to move on with the product or drop it.
influences of Business environment,
Answers
Factors that Influence the business environment are :
Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment
The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.
Importance of business environment:
Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.The economic environment is all the things that create an economic impact on the firm.
The social environment is all the traditions and customs of the society that creates an impact on the firm.
The technological environment is all the impact on the firm caused due to new technology and upgradations.
The political environment is the conditions and behavior that the elected representatives hold toward the business
The legal environment is entirely based on the rules and legislation of the authorities.
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Which of the following characteristics of tourism services explains which guests need to be present when the service is being performed?
Answers
how can we control the quality in the tourism industry?
Answers
Answer:
Avoid mainstream and/or iconic destinations. ...
Make “second city” tourism a habit. ...
Highlight lesser known places. ...
Travel as slowly as possible. ...
Travel in smaller groups. ...
Make sure people in your photos have given consent.
2. What do you think Alana's goals should be?
Answers
I think Alana's goal should be to create a budget that will make her save enough money to pay for all expenses.
What's plutocrat? Plutocrat is any item or empirical record that's generally accepted as payment for goods and services and prepayment of debts, similar as levies, in a particular country or socio- profitable environment.The primary functions which distinguish plutocrat are as a medium of exchange, a unit of account, a store of value and occasionally, a standard of remitted payment. What's significance of plutocrat? Plutocrat can not buy happiness, but it can buy security and safety for you and your loved bones. Mortal beings need plutocrat to pay for all the effects that make your life possible, similar as sanctum, food, healthcare bills, and a good educationLearn more about money here:
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Supply chains for services are easier to define than supply chains for manufactured goods.
a. True
b. Flase
Answers
Supply chains for services are easier to define than supply chains for manufactured goods.
a. True
b. False
Which three of the following statements about convenience checks are true?
-Funds must be available to cover the check value and the bank’s processing fee.
-The Cardholder can dispute a convenience check after payment has been made.
-Convenience checks must be secured in a locked container.
-The Cardholder can request that the bank "stop payment on a check"
Answers
The three statements about convenience checks that are true are the following:-
Funds must be available to cover the check value and the bank’s processing fee.The Cardholder can dispute a convenience check after payment has been made.The Cardholder can request that the bank "stop payment on a check"The options A, B and D.
Convenience checks are the bank checks provided by the issuer of a credit card account that is written by the account holder. It is considered as a quick and easy way to get cash from a credit card. When a cardholder uses the convenience checks, the card issuer pays for the amount of the checks to the merchant or to the holder of the check.
Above are the three statements about convenience checks that are true. These are important points to remember as convenience checks are bank checks that are risky to use. Using convenience checks must be handled with caution to avoid potential problems that might arise in the future.
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Three true statements about convenience checks are: funds must be available, the cardholder can request a stop payment, and the cardholder can dispute a convenience check after payment.
Explanation:Three statements about convenience checks that are true include:
Funds must be available to cover the check value and the bank's processing fee. This means that the cardholder needs to have enough money in their account to cover the check and any associated fees.The cardholder can request that the bank "stop payment on a check." This means that if the cardholder realizes they made a mistake or no longer want to use the convenience check, they can ask the bank to prevent the check from being processed.The cardholder can also dispute a convenience check after payment has been made. If there is a problem with the transaction, such as unauthorized charges or errors, the cardholder has the right to dispute the check.Learn more about Convenience checks here:https://brainly.com/question/36720798
Total increase in sales required: $_____________
Carla Vista Bucket Co., a manufacturer of rain barrels, had the following data for 2019.
If the company wishes to increase its total dollar contribution margin by 30 % in 2020 , by how much wi
Answers
The total increase in sales required for Carla Vista Bucket Co. in 2020 to achieve a 30% increase in the total dollar contribution margin
To determine the total increase in sales required for Carla Vista Bucket Co. in 2020 to achieve a 30% increase in total dollar contribution margin, we need to calculate the necessary change in sales revenue.
The total dollar contribution margin can be calculated using the formula:
Total Dollar Contribution Margin = Sales Revenue - Total Variable Costs
Let's assume the total dollar contribution margin in 2019 was represented by CM1.
CM1 = Sales Revenue 2019 - Total Variable Costs 2019
To achieve a 30% increase in total dollar contribution margin in 2020, we need to calculate the new target dollar contribution margin (CM2):
CM2 = CM1 + 30% of CM1
Once we have the target dollar contribution margin (CM2),
we can calculate the required increase in sales revenue (Increase in Sales) as follows:
Increase in Sales = (CM2 + Total Variable Costs 2019) - Sales Revenue 2019
Therefore, the total increase in sales required for Carla Vista Bucket Co. in 2020 to achieve a 30% increase in the total dollar contribution margin can be calculated using the above formula.
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