The income statement for the year 2015 of Fugazi Co. contains the following information: Revenues$70,000 Expenses: Salaries and Wages Expense$45,000 Rent Expense12,000 Advertising Expense10,000 Supplies Expense6,000 Utilities Expense2,500 Insurance Expense2,000 Total expenses77,500 Net income (loss)$ (7,500) After all closing entries have been posted, the Income Summary account will have a balance of
Answers
Answer:
$0
Explanation:
When the closing entries are recorded, so the net profit or net loss would be transferred to the retained earning account with the help of the closing entries
Therefore after closing entries posting, the balance in the income summary account would be zero and the same is to be considered
hence, the balance would be zero
Related Questions
Individualistic countries
Collectivistic countries
Answers
Individualistic and Collectivistic countries are two distinct type of nations following different cultures.
In Individualistic cultures, people are viewed as "excellent" if they are robust, self-sufficient, outspoken and independent. Individualism emphasizes the importance of each person's rights and interests. The United States, Germany, Ireland, South Africa and Australia are a few nations with individualistic cultures.
This contrasts with Collectivist civilizations, where virtues like dependability, generosity and helping others are deemed higher in value. Collectivism emphasizes the value of the community as a whole. Chinese, Indian and Japanese collectivist cultures prioritize the aims of the family and the workplace over the interests and ambitions of the individual.
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What is the difference between Individualistic countries and Collectivistic countries?
explain all the dimensions of Management functions in Human Resource management
Answers
Answer:down
Explanation:The four dimensions of human resource management practices are: Managing The Human Resource Environment, Acquisition and Preparation of Human Resources, Assessment and Development of Human Resources, and Compensation of Human Resources as stated by Noe et al (2010).
Answer: HR managers carry out a variety of tasks to ensure a business runs smoothly. The various dimensions of management functions in Human Resource management are as follows:
Explanation:
a. Planning
Planning for various things, from the hiring process to training and development programs, is the most crucial duty of an HR manager. Planning lays the foundation for other HR management responsibilities, such as determining job qualifications and the organization's need for recruitment.
b. Organizing
An HR manager is responsible for performing this role after the planning phase (discussed above) is finished. To meet the requirements and wants of the workforce while achieving business goals, they must create strategies and programs.
c. Directing
To carry out the goals and plans they have developed, HR managers need personnel. As a result, they lead their teams in a way that carries out the manager's goals and strategies. They assign tasks to the team members and keep tabs on their performance to assess their progress.
d. Controlling
One of the most significant managerial duties and obligations of an HR manager is this. In doing so, the HR manager monitors deviations, corrects them, and compares the results to the objectives. This entails tasks like audits and appraisals.
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What designation would you hold if you have the most common designation in the accounting field, which is also considered the backbone of the accounting function?
Answers
The certification of Public accountant will be held by an employee if he/she has most common designation in the accounting field.
What is a certification of Public accountant?This license are issued to accounting professionals that have an extensive education and has pass a rigorous four-part exam and meet experience.
Hence, the license will be by an employee if he/she has most common designation in the accounting field.
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Houston Pumps recently reported $172,500 of sales, $140,500 of operating costs other than depreciation, and $9,250 of depreciation The company had $35,250 of outstanding bonds that carry a 6.75% interest rate, and its federal-plus-state income tax rate was 25%. In order to sustain its operations and thus generate future sales and cash flows, the firm was required to spend $15,250 to buy new fixed assets and to invest $6,850 in net operating working capital. What was the firm's free cash flow?
a. $1,860
b. $4,213
c. $1,589
d. $2,286
e. $1,976
Answers
Answer:
b. $4,213
Explanation:
Net Operating Profit = Sales - Operating costs - Depreciation Expenses
Net Operating Profit = $172,500 - $140,500 - $9,250
Net Operating Profit = $22,750
Free Cash Flow (FCF) = Net Operating Profit After Tax(NOPAT) – Capital Expenditures – Changes in Net Working Capital
Free Cash Flow (FCF) = Net operating income*(1 - Tax Rate) + Depreciation Expenses - Capital Expenditures - Changes in Net Working Capital
Free Cash Flow (FCF) = $22,750 *(1 - 0.25) + $9,250 - $15,250 - $6,850
Free Cash Flow (FCF) = $22,750 *0.75) + $9,250 - $15,250 - $6,850
Free Cash Flow (FCF) = $17,063 + $9,250 - $15,250 - $6,850
Free Cash Flow (FCF) = $4,213.
QUESTION 11
Whether targeting consumers or resellers, marketers need to focus on:
O Buying center synergy.
O Corporate profit sharing
O Reducing derived demand
O Creating value for their customers
Answers
Marketers need to focus on creating value for their customers. The Option D.
Why is creating value for customers crucial for marketers?Creating value for customers is crucial for marketers as it directly impacts customer satisfaction and loyalty. When marketers prioritize creating value, they focus on understanding customer needs and preferences, developing products or services that meet those needs and delivering exceptional customer experiences.
By doing so, they differentiate themselves from competitors, build strong customer relationships and drive business growth. When customers perceive value in what a company offers, they are more likely to make repeat purchases.
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Oahu Kiki tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each month, as if it uses a periodic inventory system. Assume Oahu Kiki’s records show the following for the month of January. Sales totaled 240 units.
Date Units Unit Cost Total Cost
Beginning Inventory January 1 120 $ 80 $ 9,600
Purchase January 15 380 90 34,200
Purchase January 24 200 110 22,000
Required:
Calculate the number and cost of goods available for sale.
Calculate the number of units in ending inventory.
Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.
Answers
A) The number and cost of goods available for sale are 700 units and $65,800, respectively.
B) The number of units in the ending inventory is 460 units.
C) The cost of ending inventory and cost of goods sold using the following cost methods are:
Ending Inventory Cost of Goods Sold
a) FIFO $45,400 $20,400
b) LIFO $40,200 $25,600
c) weighted average $43,240 $22,560
What is the difference between these inventory costing methods?The FIFO assumes that goods sold first are the first to be in, that is, First-in, First-out.
The LIFO method assumes the opposite of FIFO, that is Last-in, First-out.
The weighted average uses the average cost to determine the cost of goods sold and the cost of ending inventory.
Date Description Units Unit Cost Total Cost
January 1 Beginning Inventory 120 $ 80 $ 9,600
January 15 Purchase 380 90 34,200
January 24 Purchase 200 110 22,000
Total inventory 700 $65,800
Sales of units 240
Ending inventory 460
Average cost per unit = $94 ($65,800/700)
FIFO:Ending inventory = $45,400 (260 x $90 + 200 x $110)
Cost of goods sold = $20,400 ($65,800 - $45,400)
LIFO:Ending inventory = $40,200 (120 x $80 + 340 x $90)
Cost of goods sold = $25,600 ($65,800 - $40,200)
Weighted average:Ending inventory = $43,240 ($94 x 460)
Cost of goods sold = $22,560 ($94 x 240)
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What is the relationship between quality and competitiveness?
Answers
The relationship between them is that to be competitive you need to produce the best Quality
Quality and competitivenessQuestion Parameters:
Quality competitivenessGenerally ,Quality speaks to the originality and all round measure of how good a thing is i comparison to another
While competitiveness is a will or desire to be the best in a group of field
Therefore, the relationship between them is that to be competitive you need to produce Quality
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Marigold Corp. issues $220,000, 20-year, 8% bonds at 104. Prepare the journal entry to record the sale of these bonds on June 1, 2020
Answers
Answer:
Selling Price of Bonds = Value of bonds * Issue price / Face price
Selling Price of Bonds = $220,000 * 104/100
Selling Price of Bonds = $228,800
Journal Entry
Date Account Title and Explanation Debit Credit
1 June Cash $228,800
Bond payable $220,000
Premium on bond payable $8,800
(To record issuance of bond)
Working
Premium On Bonds Payable = Selling Price of Bonds - Value of Bonds
= $228,800 - $220,000
= $8,800
Help I’ll give you 30 pts
Answers
Answer:
Dejé caer las pastillas
Ellas perdieron la recepie
Tengo la radiografia
Explanation:
aquí ypu va! ¡Espero que esto ayude!
Kent Company's May sales budget calls for sales of $900,000. The store expects to begin May with $50,000 of inventory and to end the month with $55,000 of inventory. Gross margin is typically 45% of sales. Compute the budgeted cost of merchandise purchases for May. $550,000. $500,000. $495,000. $460,000.
Answers
Answer:
$500,000
Explanation:
Given that:
Sales for the month = $900,000
Opening inventory = $50,000
Closing inventory = $55,000
Gross margin on sales = 45%
Cost of goods sold = 100 - gross margin = 100% - 45% = 55%
Hence,
Cost of goods sold = $900,000 × 55% = $495,000
Therefore, the purchase for the month
= Cost of goods sold + Closing inventory - Opening inventory
= $495,000 + $55,000 - $45,000
= $500,000
Question 5 of 10
How does a low credit score affect a person who applies for a loan?
A. It allows banks to give the person a loan without checking his or
her tax records.
B. It causes banks to charge the person higher interest rates on the
loan.
C. It makes it easier for the person to get a loan with a poor debt-to-
income ratio.
D. It makes banks more likely to give the person a large, long-term
loan.
Answers
Answer:
B
Explanation:
This is because the bank is worried they will be unable to pay it back in a shorter period
Answer:
B
Explanation:
just took the quiz
What situation best illustrates the role of businesses in the circular flow of goods?
A. A taxi driver take a group of students to the airport.
B. A website sells the products made by many different companies.
C. A company makes a new line of kitchen appliances.
D. A factory produces steel used in cars and trucks.
Answers
A company makes a new line of kitchen appliances is the situation best illustrates the role of businesses in the circular flow of goods. Thus, option (c) is correct.
What is businesses?The term “business” refers to earning a benefit. The business is taking the risk and gaining the benefit. The business is in the main concentrated on the activities of the creative activity, organization, and merchandising of concepts.
A process of the businesses in the circular flow of goods. It was the market situation basis to create the new line of products on such as kitchen appliances. It was the different from their usual production line.
As a result, the significance of the company makes a new line of kitchen appliances are the role of the businesses are the aforementioned. Therefore, option (c) is correct.
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A7X Corp. just paid a dividend of $2.20 per share. The dividends are expected to grow at 25 percent for the next eight years and then level off to a growth rate of 6 percent indefinitely. If the required return is 14 percent, what is the price of the stock today?
Answers
Local government officials would like to know if city residents are generally satisfied with the cleanliness of local
streets and recreation areas. To estimate the level of satisfaction, city officials appear on a local television morning
show, where residents are invited to share their satisfaction through an online poll. Which of the following
statements best describes the potential results from this poll?
Answers
Answer:
D. This is a voluntary response sample and is likely to underestimate the proportion of residents satisfied with the cleanliness of the area.
Explanation:
i took the quiz
This is a voluntary response sample and is likely to underestimate the proportion of residents satisfied with the cleanliness of the area.
What is survey ?A survey is a set of questions used in human subject research with the goal of gathering specific information from a certain population. Surveys can be carried out via the phone, by mail, online, at street corners, and even in shopping centers. Surveys are used to collect data or learn more in areas like demography and social research.
Survey research is frequently used to evaluate ideas, beliefs, and emotions. Surveys might have narrow, focused objectives or they can have broad, more general objectives. In addition to being utilized to satisfy the more practical requirements of the media, such as evaluating political candidates, public health officials, professional organizations, and advertising and marketing directors, surveys are frequently employed by psychologists and sociologists to evaluate behavior.
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Part A Use this free trade agreements resource to complete the following chart for two of the countries listed (except Mexico and Canada). For a more complete picture of each trade agreement you select, find two additional websites and review them for additional information. List these websites in the spaces provided in the table.
Answers
The Central American-Dominican Republic Free Trade Agreement (CAFTA-DR), the North American Free Trade Agreement (NAFTA), and the European Union are examples of regional trade accords (EU).
What is a trade pact involving two or more nations?A free trade agreement (FTA) is a pact reached by two or more nations in which the parties specify commitments affecting trade in goods and services, investor protections, and intellectual property rights, among other things.
What transpires after two nations ratify a free trade agreement?In a free trade agreement, a collection of nations determines to reduce their tariffs or other trade restrictions in order to encourage greater trade with their trading partners. This makes it possible for all nations to gain access to resources and cut prices.
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If stock prices go up then investors____.
Answers
If stock prices go up then investors make higher profits or gains. Strong earnings typically lead to an increase in the stock price (and vice versa).
However, the stock price of some businesses that aren't doing all that well is nonetheless skyrocketing. Investor hopes that the firm would become profitable in the future are reflected in this growing price. There are, however, no assurances that a firm will live up to the current aspirations of investors to become a high-earning corporation in the future, regardless of the stock price.
The price of a stock can also be impacted by business-specific news, such as the publishing of an earnings report, especially if the firm is posting after a weak quarter.
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The 30-years, 5.5 percent bonds issued by Modern Kitchens pay interest semiannually, mature in four years, and have a $1000 face value. Currently, the bonds sell for $1 020.66. What is the yield to maturity?
Answers
4.92% is the yield to maturity. Thus, option A is correct.
What are bonds?Debt protection is called a bond. Bonds are issued by creditors to attract investors with capital ready to extend a loan to them during a specified specific time period
The given information will be:
face value of bond = $1000
The bond's selling price = $1 020.66
The formula for Yield to maturity will be:
Yield to maturity= (annual coupon payment+(face value-market value)/years to maturity)/(face value+ market value)/2)
= (55+(1000-1020.66)/4) / (2020.66/2)
= (49.835/1010.33)
= 4.92%.
Therefore, option A is the correct option.
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The question is incomplete, the complete question will be:
Multiple Choice
4.92%
2.68%
5.39%
4.41%
2.46%
Miller Park Stadium Project Case Study
Answers
Answer:
what about it lol there's no question
Equilibrium is reached when what occurs?
quantity supplied equals quantity demanded
there is no change in the quantity supplied
price increases
prices are inelastic
Answers
Equilibrium is reached when quantity supplied equals quantity demanded in a market. Therefore, the correct option is A.
Equilibrium means that the quantity of a product or service that producers are willing to supply matches the quantity that consumers are willing to buy at a given price. At equilibrium, there is a balance between supply and demand, and there is no inherent tendency for prices to change.
In an equilibrium state, the market clears, meaning that there are no excess supply or excess demand conditions. Producers are supplying exactly what consumers are demanding, and there is no pressure for prices to increase or decrease.
Thus, the ideal selection is option A.
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Blossom Company developed the following information about its inventories in applying the lower of cost or market (LCM) basis in valuing inventories: Product Cost Market A $135000 $142000 B 94000 90000 C 189000 191000 If Blossom applies the LCM basis, the value of the inventory reported on the balance sheet would be
Answers
Answer:
$414,000
Explanation:
Product Cost Market
A $135000 $142000
B $94000 $90000
C $189000 $191000
When a company uses the lower of cost or market rule in order to report their inventory level, they must calculate it based on which is lower, the purchase cost or the market value.
In this case, the company should report products A and C at cost (which are lower than market value), but it should report product B at market value because it's lower.
ending inventory = $135,000 + $90,000 + $189,000 = $414,000
How does the use of these skills help organizations to outperform others in their industry?
Assess how the four functions of management (e.g., planning, organizing, leading, and controlling) are effective in helping organizations meet their goals.
Answers
The skills to relate to coworkers and deal well with subordinates provides for the smooth flow of business operations inside the organization. For any organization to prosper and accomplish its goals and objectives, effective management skills are essential.
What are the importance of skills?Leadership qualities contribute to improving an organization's performance. The forerunners of new ideas that can help the organization come up with fresh ones to boost productivity are managers who are strong leaders.
It should be noted that the four functions include:
Planning has to do wifh the planning of decision making.
Organizing has to do with appropriate coordination between planning and resources.
Leading involves motivating employees to achieve organizational goals.
Controlling is simply elated to monitoring and evaluation.
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2 years is $24,234. Determine the present value amount, using the following partial table of present value of $1 at compound interest
Answers
The present value amount, given the principal and the partial table of the present value, will be $20,017.28
How to find the present value amount?The present value amount will be the current value of an amount that is denoted in future terms. To find this amount, you need to discount the future amount by a certain discount interest rate, and the number of periods into the future.
The interest rate here is 10% and the amount in 2 years is $24, 234.
Given the partial table of present value of $1 at compound interest, we known that the discount factor for 2 years at 10% is 0.826.
The present value of $24, 234 from two years in the future, in the present is:
= Future value amount x Present value factor for 2 years, 10 %
= 24, 234 x 0.826
= $20, 017.28
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Bacardi Company established a $150 petty cash fund with Eminem as the petty cashier. When the fund
balance reached $19 cash, Eminem prepared a petty cash payment report, which follows.
Answers
Answer:
Petty Cash Fund at the beginning = $150 Petty cash fund balance reach = $19 Total expenditure (150 – 19) = $131 And Expenditure shown $120 Cash short and over (131 – 120) = $19 Journal Entries Date Accounts title and explanation Debit Credit
Explanation:
80% shur
TopKnotch Mfg. Co. has a production cost of $280. It sells its product to a wholesaler for $400. The wholesaler then sells the item to retailers for $500 and the retailers sell the item for $1,000.
A. What is the retailer’s markup percentage on selling price?
•
B. What is the wholesaler’s markup percentage on selling price?
•
C. What is the manufacturer’s markup percentage on cost?
Answers
Answer: 50%, 40%
Explanation: A. What is the retailer’s markup percentage on selling price?
Selling price – cost/Selling price X 100 so 1000-500=500/1000 =.5 X 100 = 50%
B. What is the wholesaler’s markup percentage on selling price? 1000-400/1000 X 100 = 40%
A. The retailer's markup percentage on selling price is 100%.
B. The wholesaler's markup percentage on selling price is 25%.
C. The manufacturer's markup percentage on cost is approximately 42.86%.
A. Retailer's Markup Percentage on Selling Price is calculated as follows:
Markup = Selling Price - Purchased Price
Markup = $1,000 - $500
= $500
Markup Percentage = (Markup / Purchased Price) * 100
Markup Percentage = ($500 / $500) * 100
= 100%
B. Wholesaler's Markup Percentage on Selling Price is calculated as follows:
Markup = Selling Price - Purchased Price
Markup = $500 - $400
= $100
Markup Percentage = (Markup / Purchased Price) * 100
Markup Percentage = ($100 / $400) * 100
= 25%
C. Manufacturer's Markup Percentage on Cost is calculated as follows:
Markup = Selling Price - Production Cost
Markup = $400 - $280
= $120
Markup Percentage = (Markup / Production Cost) * 100
Markup Percentage = ($120 / $280) * 100
= 42.86%
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Should I tell my parents I'm adopted?
Answers
Answer: Yes
Explanation:
It is important, when telling them about their adoption, to help them understand that they were born first—and that all children, adopted or not, are conceived and born in the same way. The birth came first, then the adoption. Waiting until adolescence to reveal a child's adoption to him or her is not recommended. “Halloween is the beginning of the holiday shopping season. That’s for women. The beginning of the holiday shopping season for men is Christmas Eve.”
—David Letterman
Western Energy makes quarterly deposits into an account reserved for purchasing new equipment two years from now. The interest paid on the deposits is 12% per year, compounded monthly. Identify the interest period, compounding period, and compounding frequency in the interest period.
a. The interest period is ____________.
b. The compounding period is _______________ .
c. The compounding frequency is___________ .
Answers
Answer:
a. 2 years
b. 1 year
c. 12 times
Explanation:
Interest period is the duration of the deposit. It is the length of time the money would remain in deposit. This is 2 years according to the question
Compounding period = number of times interest would be paid. In the question, this is a year. So interest would be paid every year
The compounding frequency - it is the number of times the deposit would be compounded. It is 12 months
The future value of the deposit can be determined using this formula :
FV = P (1 + r/m)^nm
FV = Future value
P = Present value
R = interest rate
N = number of years
m = number of compounding
A customer has an existing margin account that shows the following: Long Market Value: $100,000 Debit Balance: $60,000 If the market value declines to $60,000, the customer will receive a maintenance call for:
Answers
$36,000? I didn't really understand the question.
A firm has the following sales figures: Year 2011: $2.1 million. Year 2012: $2.3 million. Year 2013 $2.5 million. Year 2014 $2.2 million. Year 2015 $3.1 million. Using the naive approach, determine the forecast for next year's sales. A. $3.2 million. B. $3.1 million. C. $3.4 million. D. $2.5 million
Answers
Answer:
3.1 million
Explanation:
naive approach assumes that your projected data point is just your most recent one
because we have 3.1 million last year we assume that it's going to be that this year
Tony Hsieh is a big thinker and Zappos is clearly his baby. But he's also into philanthropy and community development activities that are taking up more of his time. And, perhaps he'll come up with other new business ideas as well. As a leadership coach, what steps would you recommend that he take now to ensure that his leadership approach and vision lives on at Zappos long after his departure? What can a strong and secure leader like him do to ensure a positive leadership legacy in any situation?
Answers
To ensure a positive leadership legacy, Tony Hsieh can focus on mentorship, succession planning, and fostering a strong company culture at Zappos.
What is positive leadership legacy?Character, decisions, behavior, consistency, confidence, and compassion are the six pillars of your leadership legacy that may decide how you establish, create, grow, and are remembered. From inside, take the initiative.
Leaving a leadership legacy does not imply leaving something for future generations. It's leaving an impression on folks.
Legacy is determined not just by your accomplishments and vision, but also by how you conduct yourself as a leader and the decisions you make on a daily basis. "If you decide to do the right thing when no one is looking, you build a track record, and people trust you," Bates explained.
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Please post detailed answers to the following questions. Please use complete sentences.
Ben is starting an online store for rare musical instruments, and he is hoping to make it the kind of company that people are fighting to become part of. What are some of the things Ben might do to make this happen?
Answers
In order to make the online musical instruments store more popular and desirable in the market, Ben can:
1. Build a strong brand: Ben can invest in creating a strong and unique brand for his store.
This can include creating a catchy logo and slogan, using consistent colors and fonts across all products, and creating a unique brand voice that resonates with your target audience.
2. Build a sense of community: Ben can build a community around his store by hosting events and workshops that bring musicians and music lovers together. It can also create social media groups and forums where customers can share their knowledge and connect with like-minded people.
3.Overall, with a focus on offering unique products, building a strong brand, creating a sense of community, providing excellent customer service, and having a good understanding, Ben can do his online shopping for rare vehicles and find a company.
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