For each transaction, (1) analyze the transaction using the accounting equation, (2) record the transaction in journal entry form, and (3) oost the entry using T-accounts to represent ledger accounts. Use the following partial chart of accounts-account numbers in jarentheses: Cash (101); Accounts Receivable (106); Office Supplies (124); Trucks (153); Equipment (167); Accounts Payable (201); Jnearned Landscaping Revenue (236); Common Stock (307); Dividends (319); Landscaping Revenue (403); Wages Expense (601); and -andscaping Expense (696). a. On May 15, DeShawn Tyler opens a landscaping company called Elegant Lawns by investing $86,000 in cash along with equipment having a $46,000 value in exchange for common stock. b. On May 21 , Elegant Lawns purchases office supplies on credit for $600. c. On May 25, Elegant Lawns receives $9,400 cash for performing landscaping services. d. On May 30, Elegant Lawns receives $2,600 cash in advance of providing landscaping services to a customer. Complete this question by entering your answers in table.
DeShawn Tyler opened a landscaping company called Elegant Lawns by investing $86,000 in cash along with equipment having a $46,000 value in exchange for common stock.
There is no liability. Thus, common stock will be credited for $132,000 ($86,000 + $46,000) and cash will be debited for the same amount. b | Elegant Lawns purchased office supplies on credit for $600. | The accounting equation is Assets = Liabilities + Stockholders’ Equity.
Elegant Lawns purchased office supplies on credit for $600. There is no change in assets, however, liabilities increase by $600. Thus, Accounts Payable will be credited for $600 and Office Supplies will be debited for the same amount. c | Elegant Lawns receives $9,400 cash for performing landscaping services. | The accounting equation is Assets = Liabilities + Stockholders’ Equity.
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What are some things with investing that you should never do?.
Answer: Sell a stock because it is going lower
Explanation:
This isnt always bad due to not trying to lose capital while a stock is tumbling.
But the best thing to do is sell a stock because you found a better one.
inventory is added to the inventory records after all of the following are reconciled, except the a.receiving report. b.purchase order. c.sales invoice. d.vendor's invoice.
Inventory is added to the inventory records after all of the following are reconciled, except the sales invoice.
A sales invoice is an accounting form that a supplier of goods or services sends to a customer. It keeps track of the goods and services delivered as well as the money owing by the client and the available payment options. Between businesses and customers, particularly for larger purchases, invoices establish legally enforceable agreements.
Businesses produce invoices to request payment from customers at the conclusion of the sales process. Invoices are created at delivery or right away after for the majority of businesses. While some still utilize snail mail, most invoices today are sent by email or through billing software. This program frequently automatically notifies the business and the client when the invoice has changed, keeping both parties informed.
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An offeree whose acceptance is not a mirror of the offer has made a counter offer.
True
False
distinguish between products tax and production tax
Answer:
Some examples of production taxes are land revenues, stamps and registration fees and tax on profession. Product taxes are paid on the actual volume of production. It is paid per unit of product. For example, excise duty, service tax, sales tax etc.
debbie is applying for a gas card. If she gets approved, what type of credit will it most likey be?
Answer:
debt
Explanation:
The Buying Process is rather simple with few, perhaps only one person involved in the process.
a. Business to Business Marketing
b. Business to Consumer Marketing
c. Neither
In B2B marketing, the buying process typically involves multiple decision-makers and stakeholders within the organization. Therefore, the buying process is usually more complex and requires a greater level of communication and relationship-building between the seller and the buyer. In contrast, in B2C marketing, the buying process can often be simpler with fewer decision-makers involved.
In many cases, especially in business-to-business (B2B) transactions, the buying process involves multiple stakeholders with different roles and responsibilities, such as decision-makers, influencers, and end-users. The buying process may also involve various stages, including problem recognition, information search, evaluation of alternatives, purchase decision, and post-purchase evaluation.
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three brothers operating a business where the action of one brother is binding on the other two brothers
what type of business organization is this?
Considering the situation above, the type of business organization is "General Partnership."
This is because General Partnership, like other types of partnership in the business organization, usually involves a minimum of two people and a maximum of fifty people.
In the general partnership arrangement, all partners have independent authority to bind the business to agreements and loans and are equally liable to debts and legal obligations.
Given that the action of one brother is binding on the other two brothers, this is a form of General Partnership.
Other types of the partnership include the following:
Limited partnershipLimited liability partnershipLimited liability limited partnership.Hence, in this case, it is concluded that the correct answer is General Partnership.
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an outward shift in the consumer demand for wheat will part 2 a. lead to downward pressure on the wages of those producing wheat. b. lead to more capital and less labor used in producing wheat. c. raise the price of wheat and shift out the marginal revenue product of labor producing wheat. d. raise the price of wheat and shift inward the marginal revenue product of labor producing wheat.
Increase wheat prices and move the marginal revenue product of the labor used to produce wheat. The correct answer is option (c).
What is consumer demand?Consumer spending for sth rises/falls Consumer demands for mobile video continues to increase. Consumer demand for sth comes from individuals rather than from businesses. Consumer demand is a supply-based economic indication of a group's desire for an item or service. It helps detect population-specific purchasing trends and acts as a representation of consumer purchasing behavior.
The amount of individuals seeking for the goods, their willingness to pay, and the quantity that is accessible for customers to buy it are some of the variables that affect demand.
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Underline the two items that are affected.
State whether each item is increasing or decreasing.
1.Sold office machinery for cash
2. Bought motor lorry for cash
3. Sold motor lorry for cash
4. Bought motor van by cheque
5. Bought office furniture by cheque
What is added to the price of goods and services at the time of purchase?
Answer:
VAT
Value Added Tax
______________'_''
If an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do?(1 point)
If an individual has a credit score of 560 and they pay their credit card late once or twice, the credit card company may score them low credit score.
What is credit score?Credit score can be defined as what help to measure the credit worthiness of a person as it help to determine whether a person will pay his/her loan within a stipulated time or late.
A late payment credit card may tend to have negative impact on the a person based on the fact that it can lead to the credit card company to score the person low which inturn will affect the person creditworthiness.
Therefore the credit card company may score them low credit score.
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which of the following can impact your credit score
The number of times you choose credit when given the choice between debit and credit at a register
you’re a debit to credit ratio
if you buy items at full price or at a discounted price when using credit
Types of items you’re buying using credit
Answer: B. your Debt to Credit ratio
Explanation:
Your debt to credit ratio is important to lenders because it shows whether you spend wisely when given debt.
Debt to credit is measured as the percentage of debt you have given your credit limit. If for instance you have a credit card limit of $50,000 and have debt of $10,000, your debt to credit ratio is:
= 10,000/50,000 * 100
= 20%
Generally the lower this ratio, the better the contribution to your credit score.
How did common law develop?
Answer:
Origin of common law
The English common law originated in the early middle ages in the King's court. It did not have substantive rights but it consisted of procedural remedies. Until the 19th century, the English common law continued to be developed primarily by the judges rather than the legislature.
explain how the global expansion of organizations has impacted society, citing specific examples regarding culture, transportation, employment, infrastructure, and environmental climate.]
The global expansion of organizations has had a significant impact on society. With the increased globalization of business, organizations are able to operate in multiple countries, providing employment opportunities in different cultures, expanding transportation and infrastructure, and creating environmental impacts.
Companies can now hire workers from a wider range of backgrounds and experiences since they have access to a greater talent pool. As a result, the workforce is now more inclusive and varied.
Likewise, businesses can transfer goods and services across international borders swiftly and effectively by utilizing transportation networks.
A global economy has been established as a result, giving businesses access to new markets and clients.
Last but not least, because of increased production and consumption, which has led to pollution and other environmental problems, organizations have had a huge impact on the environment.
Companies must exercise caution in order to prevent having a detrimental effect on society as a result of their worldwide expansion.
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The _____ is the most important factor to consider when selecting a credit card if you do not pay the balance on your credit card every month.
annual fee
over-the-limit fee
APR
late fee
Answer:
APR
Explanation:
If you dont pay off the balance each month, you are most concerned with the interest rate charged (apr)
Answer:
APR
Explanation:
The APR is the most important factor to consider when selecting a credit card if you do not pay the balance on your credit card every month.
a driver knows more than his auto insurer about how cautiously he drives. this is an example of a. the condorcet paradox. b. a hidden characteristic. c. a hidden action. d. adverse selection.
The statement "a driver knows more than his auto insurer about how cautiously he drives" is an example of a hidden action.
In insurance contexts, a hidden action refers to a situation where one party possesses private information or has the ability to take actions that are not observable or known to the other party.
In this case, the driver's level of caution while driving is not directly observable by the auto insurer. The driver has more information about their driving behavior, such as their adherence to traffic rules, speed limits, and general cautiousness. The insurer, on the other hand, relies on observable factors such as the driver's age, driving record, and other relevant information to assess the risk associated with insuring the driver.
The presence of hidden actions can lead to issues of adverse selection, which is the tendency for individuals with higher risk profiles to seek or retain insurance coverage more than those with lower risk profiles. Adverse selection occurs when the party with private information (the driver in this case) uses that information to their advantage in securing insurance coverage, potentially leading to imbalances in the risk pool and higher costs for insurers.
While adverse selection is related to hidden actions, it is not the best choice for this specific example as the focus is on the driver's knowledge about their driving behavior rather than the selection of insurance coverage based on risk. Therefore, the most appropriate answer is c. a hidden action.
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if the proposed regional comprehensive economic partnership (rcep) is achieved, it will rival the european union (eu) when measured by the number of countries involved and their combined gross domestic product (gdp). the eu is an example of a(n)
As per the given statement, the European Union is an example of economic union. Hence, Option C is correct.
What is economic union?An economic union is an arrangement between two or more countries that permits unrestricted trade in commodities, services, money, and labour. To foster this unified market, the nations may also coordinate their social and financial policies. One illustration of an economic union is the European Union (EU).
When it comes to the number of participating nations and their combined gross domestic product, the proposed Regional Comprehensive Economic Partnership will rival the European Union.
Therefore, Option C is correct.
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The complete question has been attached in text form:
If the proposed Regional Comprehensive Economic Partnership (RCEP) is achieved, it will rival the European Union (EU) when measured by the number of countries involved and their combined gross domestic product (GDP). The EU is an example of a(n)
A.) CUSTOM UNIONS
B.) FREE TRADE AREA
C.) ECONOMIC UNION
D.) POLITICAL UNION
E.) COMMON MARKET
Suppose Wave detergent is sold in a monopolistically competitive market. If the price of Wave detergent is currently $6 and the ATC is $4, in the long-run we expect:a. The demand curve for Wave to shift to the leftb. The demand area for Wave to shift to the rightc. The producers of Wave to go out of businessd. The producers of Wave to earn economic profits greater than zeroe. The producers of Wave to earn economic losses
d. In a monopolistic market the makers of Wave will experience economic earnings that are above zero in the short term, but as more businesses enter the market and competition rises, their long-term economic profitability will be close to zero.
In a monopolistic competitive market, producers have some degree of market power, which means they can set their prices above marginal cost. If the price of Wave detergent is currently $6 and the ATC is $4, it implies that the producers of Wave are earning economic profits ($2 per unit). However, in the long-run, we expect new firms to enter the market attracted by the economic profits. As more firms enter the market, the demand for each individual firm's product will decrease, and the demand curve will shift to the left. This decrease in demand will reduce the market power of the producers of Wave, which will force them to lower their prices to stay competitive. As a result, the economic profits earned by the producers of Wave will decrease and eventually approach zero. Therefore, the correct answer to your question is d. The producers of Wave will earn economic profits greater than zero in the short-run, but in the long-run, they will earn economic profits approaching zero as new firms enter the market and competition increases.
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what evidence most clearly suggests that having good communication skills can be important to your career?
Good communication skills effectively with our colleagues will help build trust, strengthen professional relationships, boosts teamwork, develop a sense of belongingness, and help us to become more productive.
What is communication?Communication is usually defined as the transmission of information. The term can also refer to the message itself or the field of inquiry studying these transmissions, also known as communication studies. There are some disagreements about the precise definition of communication, for example, whether unintentional or failed transmissions are also included and whether communication does not just transmit meaning but also creates it.
Models of communication aim to provide a simplified overview of its main components and their interaction.
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who uses financial institutions?
Answer:Financial institutions encompass a broad range of business operations within the financial services sector including banks, trust companies, insurance companies, brokerage firms, and investment dealers. Financial institutions can vary by size, scope, and geography
Explanation:
Answer:
The answer is: comercial banks, investment banks, brokerage firms, insurance companies, and asset management.
kaila wants her employer to pay her 20% more for making night deliveries in a high-crime neighborhood than the day delivery people receive. most of the delivery people are willing to make night deliveries in the neighborhood for only a 10% differential. kaila is seeking: group of answer choices a compensating differential based on her individual concerns about the risks. a compensating differential because others are undervaluing her concerns. less than a compensating differential because she is asking for more than others are. more than a compensating differential because she has greater concerns than most workers.
The employer will need to weigh the cost of compensating Kaila at a higher rate against the risk of losing her as an employee if they are unable to come to an agreement.
Kaila is seeking a compensating differential based on her individual concerns about the risks. This means that she is requesting a higher pay for the night deliveries because she perceives the risk of working in a high-crime neighborhood to be greater than what most of the other delivery people believe. In other words, Kaila is valuing her safety more and therefore wants to be compensated more for taking on that risk
. However, her request for a 20% increase may be more than what the employer is willing to provide, especially if most of the other delivery people are only requesting a 10% differential. Ultimately, the employer will need to weigh the cost of compensating Kaila at a higher rate against the risk of losing her as an employee if they are unable to come to an agreement.
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Compare and contrast what is meant by "liquidity" when referring to a CD and a mutual fund.
Answer:
"Liquidity" refers to how quickly and easily an asset can be converted into cash without affecting its market value. When referring to a certificate of deposit (CD) and a mutual fund, there are some similarities and differences in terms of liquidity.
A CD is a type of savings account offered by banks and credit unions that typically offers a fixed interest rate and a fixed term, ranging from a few months to several years. During the term of the CD, the funds are generally not accessible without incurring a penalty. However, once the term is over, the CD can be redeemed for its full value, including any accrued interest. In terms of liquidity, CDs are generally considered to be less liquid than other types of savings or investment accounts, as access to funds before the end of the term usually incurs a penalty.
On the other hand, a mutual fund is an investment vehicle that pools money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other securities. Mutual funds are generally bought and sold through a brokerage account, and investors can usually buy or sell shares at any time during the trading day at the current net asset value (NAV) of the fund. This means that mutual funds are generally considered to be more liquid than CDs, as investors can access their funds at any time without incurring a penalty.
In summary, while both CDs and mutual funds can provide a way to save and invest money, they differ in terms of liquidity. CDs generally offer a fixed interest rate and a fixed term, with limited access to funds before the end of the term. Mutual funds, on the other hand, offer more flexibility in terms of access to funds, as investors can buy or sell shares at any time during the trading day.
Which are the roles of a bank? Check all that apply.
Storing and holding money
Making purchases to create profits
Lending money
Investing in the economy
Creating money for the economy
The roles a bank plays includes:
Storing and holding moneyLending moneyWhat are banks?A bank is a financial institution that accepts deposits, lends money, stores valuables from customers. The activites of banks are guided by the Central Bank. The Central Bank is responsible for creating money in the economy.
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Let's say you make that extra $27,000 for actually graduating from a four-year college for twenty years. In 20 years, how much money have you gained by spending those four years in college ?
Answer:
$540,000
Explanation:
The extra amount made per year is $27,000
In 20 years, the total gain would be
=$27,000 x 20
=$540,000
In his job, Damon often identifies causes of problems with telecommunication equipment. Which is most likely his employer? a government-run company a local cable company a publishing company a production company
Answer:
B
Explanation:
Damon often identifies causes of problems with telecommunication equipment. A local cable company is most likely his employer. Thus, its C.
What is telecommunication?Information can be transmitted using a variety of technologies via wire, radio, optical, or other electromagnetic systems. This is known as telecommunication.
As a result, slow systems (like postal mail) are not included in the field. It has its roots in humans' need for communication at a distance greater than what is possible with the human voice, but with a similar level of expediency.
From beacons and other identifying and communicating, to electrical cable and electromagnetic radiation, including light, the transmission media in telecommunication have progressed through several technological stages.
The advantages of multiplexing many concurrent communication sessions are made possible by the division of such transmission pathways into communication channels.
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Your question is incomplete, probably the question is:
In his job, Damon often identifies causes of problems with telecommunication equipment. Which is most likely his employer?
A) a government-run company
B) a local cable company
C) a publishing company
D) a production company
Companies go through different phases to reach product/market fit. These phases are the:
A) the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
B) idea stage, the prototype stage, the launch stage, the traction stage, the monetization stage, and the growth stage.
C) idea stage, the traction stage, the monetization stage, and the growth stage.
D) idea stage, the prototype stage, the launch stage, the traction stage, and the growth stage.
Answer: D is the correct answer.
Explanation: The different phases to reach the product/ market fit are:
The idea stage: It is the first stage, where the idea of a product comes into existence.The prototype stage: here, the idea converts into a modelThe launch stage: the product is launched in the market for the consumers.The traction stage: the initial progress of a startup and the momentum it builds as it grows.The growth stage: the consumers have accepted the product and are buying it.
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In the wrong hands, which of the following pieces of personal information would present the greatest risk for identity
theft?
a. credit card number
b. date of birth
c.phone number
d. place of birt
In the wrong hands, the date of birth would present the greatest risk for identity theft.
It is significant to protect one's personal information to avoid identity theft, especially when you consider the fact that most of our personal information is available online. Various pieces of information can be used by hackers to create fake accounts, hack into bank accounts, or steal identities for fraudulent purposes. This makes it very important to be careful about what information you share and with whom.Credit card numbers are highly sensitive information, and if someone gets their hands on them, they can use them to make unauthorized purchases. However, most banks and credit card companies have strong security measures to prevent fraud. Therefore, it is not considered to be the most significant risk for identity theft.Phone numbers are less sensitive information, and while they can be used for phishing scams and fraud, they don't typically lead to identity theft. A place of birth is also not highly sensitive information and can't be used to access bank accounts or create fake identities.However, the date of birth is crucial information that can be used to create fake identities, open new accounts, or access existing accounts. With a date of birth, hackers can gain access to financial information, medical records, and other sensitive personal information. Hence, the date of birth would present the greatest risk for identity theft in the wrong hands.
In the wrong hands, the date of birth would present the greatest risk for identity theft. With a date of birth, hackers can gain access to financial information, medical records, and other sensitive personal information. Credit card numbers are also highly sensitive information, but most banks and credit card companies have strong security measures to prevent fraud. Phone numbers and places of birth are less sensitive information and typically don't lead to identity theft. Therefore, it is crucial to protect one's personal information to avoid identity theft, especially when you consider the fact that most of our personal information is available online.
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Feldt is a partner in feldt & Dodson company. Feldt’s share of the partnership income is $18600 and her average partnership equity is $155000. Her partner return on equity equals (true or false)
False- To calculate Feldt's partner return on equity, you would divide her share of the partnership income ($18,600) by her average partnership equity ($155,000). This would give you her return on equity as a percentage.
Feldt is a partner in Feldt & Dodson company. Feldt’s share of the partnership income is $18600 and her average partnership equity is $155000. Her partner return on equity equals- False.
What is Partnership Equity?
Partnership equity is the value of the equity stake held by a partner in a partnership. Partnership equity represents a partner's ownership interest in the partnership, which includes the partner's initial capital contribution as well as any profits earned by the partnership.
What is a Partner Return?
Return on equity is a financial performance metric that is used to measure a company's profitability in relation to the amount of equity that has been invested in it. Return on equity is calculated by dividing a company's net income by its shareholder's equity.
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In preparing a company's statement of cash flows using the indirect method, the following information is available:Net income $ 52,000Accounts payable decreased by 18,000Accounts receivable increased by 25,000Inventories increased by 5,000Depreciation expense 30,000Net cash provided by operating activities was:
Answer:
Statement of cash flows using the indirect method
Net income $52,000
Adjustments to net income:
Depreciation expense $30,000Increase in accounts receivable ($25,000)Increase in inventories ($5,000)Decrease in accounts payable ($18,000) ($18,000)net cash flow provided by operating activities $34,000