Zing Cell Phone Company entered into the following transactions involving current liabilities during 2020 and 2021.
2020
Mar. 14 Purchased merchandise on credit from Ferris Inc. for $140,000. The terms
were 1/10, n/30 (assume a perpetual inventory system).
Apr. 14 Zing paid $25,000 cash and replaced the $115,000 remaining balance of the account
payable to Ferris Inc. with a 4%, 60-day note payable.
May
21 Borrowed $125,000 from Scotiabank by signing a 3.5%, 90-day note. ? Paid the note to Ferris Inc. at maturity
? Paid the note to Scotiabank at maturity.
Dec. 15 Borrowed $100,000 and signed a 4.25%, 120-day note with National Bank.
Dec.
31 Recorded an adjusting entry for the accrual of interest on the note to National Bank.
2021
? Paid the note to National Bank at maturity.
Answers
Based on the provided transactions involving current liabilities for Zing Cell Phone Company in 2020 and 2021, the following events occurred:
1. On March 14, 2020, Zing purchased merchandise on credit from Ferris Inc. for $140,000. The terms were 1/10, n/30, indicating a 1% discount if payment is made within 10 days, with the full amount due within 30 days.
2. On April 14, 2020, Zing paid $25,000 in cash and replaced the remaining balance of $115,000 owed to Ferris Inc. with a 4%, 60-day note payable. This means that Zing issued a promissory note to Ferris Inc. for the remaining amount payable.
3. On May 21, 2020, Zing borrowed $125,000 from Scotiabank by signing a 3.5%, 90-day note. This indicates that Zing obtained a short-term loan from Scotiabank and agreed to repay the principal amount plus interest within 90 days.
4. In December 2020, Zing borrowed an additional $100,000 by signing a 4.25%, 120-day note with National Bank. This implies that Zing acquired another short-term loan and agreed to repay it within 120 days along with the accrued interest.
5. In December 2021, Zing paid the note to National Bank at maturity, indicating that Zing fulfilled its obligation by repaying the principal amount plus accrued interest to the bank.
These transactions involve the use of notes payable as a means of financing for Zing Cell Phone Company, allowing them to manage their current liabilities and obtain necessary funds for their operations.
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This is a question on Entrepreneurship. The two sectors where Mama Meals plays are:
Was it a mistake for her not to have had a business plan?
Yes. Business plans are essential for laying out the long-term goals of a business.
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Which of the following is not one of the reasons cited for the growth in incarcerated populations?
a. Federal prison growth
b. Increased probability of incarceration
c. Inmates serving more time for each crime
d. Private prisons
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The correct answer is: d) Private prisons. In the United States of America, incarceration is a pressing issue as its incarcerated population is one of the largest in the world.
There are several reasons cited for the growth in incarcerated populations such as federal prison growth, increased probability of incarceration, and inmates serving more time for each crime. Private prisons, on the other hand, are not one of the reasons for the growth in incarcerated populations. Incidentally, private prisons are part of the reason for the growth of the American prison system.
Private prisons are a business enterprise where individuals who are found guilty of a crime are kept. These prisons are not funded by the government but by a corporation or company. Inmates are incarcerated to serve their sentences in private prisons.
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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called Group of answer choices auditing. economics. finance. accounting.
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Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting.
Accounting is a fundamental process in business and financial management. It involves systematically recording financial transactions, classifying them into appropriate categories, and summarizing the information to create financial statements such as the income statement, balance sheet, and cash flow statement. These financial statements provide a snapshot of a company's financial performance, position, and cash flows, enabling decision-makers to analyze and make informed decisions about the organization's operations, investments, and financial strategies.
While auditing, economics, and finance are related disciplines, each has its own distinct focus. Auditing involves examining and evaluating financial records and statements to ensure accuracy, compliance, and reliability. Economics studies the production, distribution, and consumption of goods and services within an economy. Finance, on the other hand, focuses on managing financial resources, investments, and the financial aspects of decision making. However, accounting serves as the foundation for providing the necessary financial information in these areas.
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50 points each
“When you drink alcohol you are just borrowing happiness from tomorrow.”
“Your stomach thinks all potato is mashed.” ...
“I wonder what my dog named me?
”We eat pizza from the inside out. ...
If you live to be 70 years old you will spend TEN YEARS of your life on Monday. ...
Sometime in the future, someone will say your name for the last time. ...
Deaf people probably don't understand why farts are funny. ...
The word ambiguous only has one meaning.These are not my memories. ...
No one knows how anyone feels. ...
You are neither the first nor the last. ...
You are someone's ancestor. ...
Today the Earth is more beautiful than it will be tomorrow. ...
You only know you were happy when you no longer are. ...
If we're alone it's frightening. ...
Every thing could be the last thing.
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Answers
Answer:
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Answer:
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Property rights are important to a free enterprise system because they:
A. Allow businesses to freely take ideas from competing companies.
B. Protect businesses' freedom to buy and sell products.
C. Encourage businesses to keep prices as low as possible
D. Place regulations on businesses that make dangerous products.
Answers
Protect businesses' freedom to buy and sell products
Brainliest is appreciated :)
The four member countries of the Casian Common Market are unhappy with the outcome of their economic integration. They want something that entails a closer economic integration and cooperation than a common market and want to pursue a common currency. They should form a(n)
Answers
The four member countries of the Casian Common Market, seeking closer economic integration, cooperation, and a common currency, should form an Economic and Monetary Union (EMU).
The four member countries of the Casian Common Market are facing a situation where they are not satisfied with the current level of economic integration achieved through their common market.
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what is a industrial shedder?
Answers
Hope this helps!
Samira is a freshman basketball player who hopes to go to college on a basketball scholarship. She is offered the chance to play on her school’s varsity basketball team, which plays in tournaments during holiday breaks. Samira usually spends her breaks working at the local hardware store. After careful consideration, Samira decides to stay on the freshman basketball team and keep working over breaks.
The fact that Samira may miss out on a scholarship opportunity by staying on the freshman team illustrates
a cause.
minor consequences.
a tradeoff.
unexpected risk.
Answers
Answer: a trade off
Explanation:
A trade-off (or tradeoff) is regarded as a situational decision which occurs when one loses a particular thing in order to gain something else.
A trade off is regarded as a form of compromise. An increase in a particular thing brings about a decrease in something else. The fact that Samira may miss out on a scholarship opportunity by staying on the freshman team illustrates trade-off.
Answer: is this one
a tradeoff
Explanation:
hope helps
the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated is known as
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The first partisan presidential election in the United States, where candidates were aligned with political parties, was held in 1796. This was a significant moment in American history as it marked the formalization of political parties and the beginning of the modern electoral system.
During the early years of the United States, political parties had not yet been established, and presidential candidates ran as independent individuals without formal party affiliations. However, by the mid-1790s, political differences emerged between various groups of leaders, leading to the formation of political parties.
In the election of 1796, two prominent political parties emerged: the Federalist Party, led by John Adams, and the Democratic-Republican Party, led by Thomas Jefferson. The Federalist Party was generally supported by northern and urban areas, while the Democratic-Republican Party was more popular in southern and rural areas.
In this election, voters for the first time had to choose between candidates who were aligned with these political parties. The Federalist Party nominated John Adams as their candidate for president, and Thomas Pinckney as their candidate for vice president. The Democratic-Republican Party nominated Thomas Jefferson as their candidate for president, and Aaron Burr as their candidate for vice president.
The election process was different from the modern system, with each state having its own method for selecting electors who would then vote for the president. Adams won the most electoral votes and became the second president of the United States, with Jefferson becoming the vice president.
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In 2019, national saving in Korea equaled 34.8 percent of GDP, and domestic investment equaled 30.0 percent of GDP. Source: International Monetary Fund, "World Economic Outlook Database," March 2021. a. Calculate net foreign investment in Korea as a percentage of GDP. Net foreign investment in Korea as a percentage of GDP equals percent of GDP. (Enter your response rounded to one decimal place.) b. Can we say with certainty whether in 2019 the Korean government was running a surplus or a deficit? A. No, to determine if the government was running a surplus or a deficit, we would need information on private saving. B. No, we would need to know whether the country was exporting more than it was importing, or vice versa, in order to make this determination. C. Yes, if we substitute the values above into the saving and investment equation, it yields a positive number, indicating the government was running a surplus. D. Yes, if we substitute the values above into the saving and investment equation, it yields a negative number, indicating the government was running a deficit.
Answers
Answer:
Explanation:
Lula’s got a pet dog, for whom she bought an accident and illness pet insurance policy three months ago. The dog steps on a mouse trap set out by neighbors and needs his first vet services of the year, totaling $800. Lula’s deductible is $1000, her reimbursement rate is 75%, and her coverage limit is $15,000. How much does lula pay, and how much does the insurance pay?.
Answers
Lula pays $800, the insurance pays $0. A policy that represents an insurance contract provides the policyholder with financial protection or payment from an insurance firm against losses.
In order to make payments to the insured more manageable, the firm combines the risks of its clients. The majority of people have some kind of insurance, whether it is for their life, their property, their automobile, or their health.
Insurance plans provide protection from monetary losses brought on by mishaps, injuries, or property damage. Additionally, insurance aids in defraying expenses related to liability (legal duty) for harm or damage done to a third party.There are many different types of insurance policies available, and almost any person or organization may find an insurance company that will insure them for a fee.
Therefore, Lula pays $800, the insurance pays $0.
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A product's target market can influence where it is placed on the shelf.
True
False
Answers
Answer:
I'm pretty sure false! Hopefully this helps
John has a gross income of $60,000. He is single and is choosing to take a deduction for all single people amounting to $6,300. What does this $6,300 represent? a standard deduction an itemized deduction an earned income credit an adjusted gross income
Answers
Answer:
A standard deduction
Explanation:
John is taking a standard deduction. A standard deduction is deduction on taxable income that the IRS allows for individuals that are not making use of itemized deductions to reduce their income tax. Standard deduction may apply to people based on status, age, disability or other criteria listed.
Standard deduction is different from itemized deduction and both cannot be used together. Itemized deduction applies by listing allowable expenses that are deducted from taxable income such as charity donations, property, medical expenses etc.
a standard deduction
Is competition good for business?
Is it good for consumers?
Answers
Answer:
yes and yes
Explanation:
Jordan loves creating short films using his phone camera and small posable figures. He has learned how to edit the videos so that it looks as if the figures are alive and moving! What possible career paths might Jordan want to consider for his future? Explain.
Answers
Answer:
You tube , computer enjneer
Explanation:
Answer:
"A possible career path that Jordan would consider taking for his future are videography, music/video editor, or even an influencer of some sort! Becoming a videographer could widen his knowledge about the electronics he enjoys working with. He could possibly turn something that he's passionate about into something small like short films on a phone all the way to a Hollywood movie." all credit goes to foochy, the original creator of this paragraph. foochy is a brainly user.
How much money did Amazon make on Cyber Monday?
Answers
This online shopping surge directly impacted Cyber Monday. Data from Adobe Analytics shows that customers spent $10.8 billion online during Cyber Monday.
Data in computing refers to information that has been converted into a format that is useful for transmission or processing. Data is information transformed into binary digital form for use with computers and transmission media of the present. Both the singular and plural forms of the subject data are acceptable. Computer science's analytics discipline looks for useful patterns in data using math, statistics, and machine learning. The process of analytics, also known as data analytics, entails sorting through enormous data sets to find, decipher, and share fresh information. Data analytics is the science of examining unprocessed data to draw inferences about that data. A company can increase productivity, maximize profit, or make better decisions based on data analytics to improve performance.
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1. Describe how SaksFirst builds loyalty for Saks Fifth Avenue.
Answers
SaksFirst built loyalty for Saks Fifth Avenue by broadening its reach and offering more benefits like:
free membership for cardholders without minimum spending earning points toward SaksFirst card with first purchases and free shipping from Saks stores.How do brands build loyalty?Customers only continue to buy or patronize a brand if they feel they can trust the company, this is brand loyalty. Loyalty can be achieved through engaging customers, being reliable, keeping the price reasonable and incentives.
In the case of SaksFirst, they built loyalty by offering free memberships to Saks Fifth avenue customers, giving points for first card purchase and free shipping.
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2. List what synergy is
Answers
Answer:
Synergy is the concept that the value and performance of two companies combined will be greater than the sum of the separate individual parts. If two companies can merge to create greater efficiency or scale, the result is what is sometimes referred to as a synergy merge. :)
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Isaiah has the opportunity to participate in a work-study program at college. If he participates, how might this benefit him?
He can earn college credit for each hour that he works.
He will get the chance to meet with experts who work in his chosen career field.
He will have the ability to study while at his job on campus.
He will work a part-time job on campus to help pay for his tuition.
Answers
Answer :He can earn college credit for each hour that he works.
Explanation:
It would help him because he wouldn't have to pay for the credits
An international business is a firm that
Part 2
A. hires non-U.S. citizens.
B. produces a wide range of products.
C. is not from the United States.
D. engages in international trade or investment.
Answers
Option D: An international business is a firm that engages in international trade or investment.
Therefore, the correct answer is option D. An international business is a company that conducts business across national borders. This can include importing and exporting goods, investing in foreign markets, and operating in multiple countries.
It is not necessarily defined by the nationality of its employees, the range of products it produces, or the country in which it is headquartered. International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale. It involves cross-border transactions of goods and services between two or more countries.
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Margarita recently started working as a temp for Lucid Systems Technology. On her first day, Shari, her team leader goes over the details of how to use the accounting softw and how to file a report on hei Work at the end of each day By the end of the first week, Margarita is confident and able to do her work without asking Shari for guidance, but Shari still checks in periodically to give her encouragement and suggestions. By the end of the week, Shari is demonstrating which stage in the life cycle theory of leadership? A. R1, telling B. R1, selling C. R3, selling D. R4, delegating E. R3. parte oathg
Answers
Answer:
E.
R3. participating
Tina will be working at the municipal swimming pool as a lifeguard this summer. She will earn $1,000 per month (a total of $3,000 for the whole summer). Tina does not plan to work any other jobs this year.
What is Tina's gross monthly income for each of the summer months (GMI)?
Answers
gabrielle deposited $1,000 in a savings account at 8% compounded quarterly for 1 year. what is the future value of his savings account.
Answers
The future value of Gabrielle's saving account will be $1,082.43
Future Value is the value of a current asset at a future date based on an assumed rate of growth.
Future Value (FV) formula
\(FV=PV(1+r)^{n}\)
FV = Future Value
PV = Present Value
r = annual interest rate
n = number of periods interest held
Now, let's work on the question.
Amount deposited = $1000 (Present Value)
Annual interest rate = 8%
8% interest rate compounded quarterly. In one year, there will be 4 quarters. So we need to find the r value
r = 8% / 4 = 2% = 0.02
Number of quarters in 1 year = 4
Now, we already have all the information, let's start to work on the formula to find the future value.
\(FV=PV(1+r)^{n}\)
\(FV = $1,000(1+0.02)^{4}\)
\(FV = $1,000*1.02^{4}\)
FV = $1,082.43
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Can anyone help me?
Saving money allows u to set more aside in a(n) ____ fund
Emergency
Bond
Exchange
Answers
Answer:
Saving money allows you to set more aside in an Emergency fund.
payment history and total debt, together, comprise 65% of your score. why do you think it’s so high?
Answers
It is considered as high because It demonstrates to potential lenders that you have a record of success in repaying debt that you have borrowed.
What is payment history?A borrower's payment history is a record of their credit and other debt payments. Payment history accounts for 35% of a FICO Score computation and is recognized as highly influential under the VantageScore model as the most important component when determining a consumer's credit score.
It aids in ensuring the timely payments of all bills. By setting up autopay, alerts, and/or calendar reminders can help you achieve this. Always set autopay to at least a minimum amount due when you set it up. This ensures that your account is up to date and that good information is provided to credit reporting agencies.
Therefore, these are reasons why payment history and total debt seem a high scores.
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If consumers believe they need a product and are willing to pay for it regardless of the price, that means the products demand is
Answers
Answer:
high
Explanation:
if somthing is more wanted ot in higher demand then a company will most likely charge more fot the products
The transition to a new industry was more challenging than he thought due to the unfamiliara. Trueb. False
Answers
The transition to a new industry was more challenging than he thought due to the unfamiliar. The statement is true.
What is the meaning of transition? The process or a period of changing from one state or condition to another is referred to as a "transition." There are several factors why the transition is challenging, and one of them is an unfamiliar environment.
What is unfamiliar? Something that is unfamiliar is unknown or strange, and it is not recognized or experienced. It could be something unfamiliar, like an unfamiliar place, an unfamiliar person, or an unfamiliar topic.
In conclusion, the statement that the transition to a new industry was more challenging than he thought due to the unfamiliarity is true.
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Career connection Follow the instructions and record your work in the
Answers
Make your interview as strong as you can because it could mean the difference between landing your ideal job or not.
What is Career connection ?It is extremely valuable to seek the advice of an industry mentor, leader, or seasoned professional because you will not only learn about the person's specific job but also about the industry as a whole, how they got to where they are in the field, whether you would enjoy their work, and how to structure your own career goals from an industry expert.
Send a request for an informative interview through email or phone to the person's workplace to arrange a non-formal interview regarding their position.
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A registered securities agent has been contacted by an independent venture capitalist to obtain customers for a private placement that he is forming. Which statement is TRUE?
A) the agent is prohibited from directing customers to the venture capitalist
B) The agent is permitted to direct customers to the venture capitalist without restriction
C) the agent is permitted to direct customers to the venture capitalist with the permission of the Administrator
D) the agent is permitted to direct customers to the venture capitalist if the agent has posted a surety bond
Answers
Answer: A) the agent is prohibited from directing customers to the venture capitalist
Explanation:
This could be similar to a selling away, where he's putting his customers into a security firm which they are not much aware of in a transaction that they are not supervising.
What is the biggest financial worry of most individuals and what can they do about it
Answers
General financial worries include: how to pay off debt, how to save money for college and school, how to invest money and where.
The solution would be to save money instead of having to take a loan from the bank, which will increase your debt. With proper planning one can avoid debt, if they plan for the future. Investment is something that should be studied and people would need to educate themselves about the market and investing. To save money for college and school, again proper financial planning is required and timely planning as well. One should plan years and months ahead of time when it comes to finance so that they don’t have to suffer from issues like debt and school or college fees.