Answer:
C. produce a combination of goods that lie outside its own production possibilities frontier
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.
Producing outside a production possibility frontier is impossible. Efficient production takes place on the production possibility frontier.
By importing goods from trade partners , a country can increase the quantity of products that it can consume with no increase in resources.
I hope my answer helps you
Final answer:
Countries specializing in production based on comparative advantage cannot produce a combination of goods that lie outside their own production possibilities frontier, but they can engage in mutually beneficial trade, increase consumption without more resources, and consume beyond their production limits.
Explanation:
Specializing in the production of a good or service in which one has a comparative advantage enables a country to do a variety of things that promote economic efficiency and trade benefits. The question asks about what such specialization does not allow a country to do. We know that specialization and trade based on comparative advantage allow countries to increase the quantity of products they can consume without an increase in resources (A), because they are producing where they are most efficient. This specialization also enables countries to engage in mutually beneficial trade (B), since they can exchange what they produce efficiently for goods another country produces more efficiently, making both parties better off. Lastly, it allows countries to consume a combination of goods that lie outside their own production possibilities frontier (D), meaning they can enjoy a greater variety of goods and services than they could by just relying on domestic production.
However, what specialization based on comparative advantage does not enable a country to do is produce a combination of goods that lie outside its own production possibilities frontier (C). A country's production possibilities frontier represents the maximum production capability with the available resources and technology. While trade lets countries consume beyond their production possibilities frontiers through imports, it does not change the physical or technological constraints that limit their production capacity.
Angie incurred capital gains and losses during the current year. She has a $12,000 net short-term capital loss; a $5,000 long-term capital gain in the 15% category; and a $15,000 long-term capital gain in the 28% category. How will these transactions be taxed after the gains and losses are combined?
A. $5,000 will be taxed at 15% and $12,000 will be taxed at 28%.
B. $2,000 will be taxed at 15% and $15,000 will be taxed at 28%.
C. $3,000 will be taxed at 28% and $5,000 will be taxed at 15%.
D. $8,000 will be taxed at 28%.
Answer:
C) $3,000 will be taxed at 28% and $5,000 will be taxed at 15%.
Explanation:
Since Angie's capital total capital losses are less than her total capital gains, she can deduct them fully from her current taxes. Capital losses can deduct taxable income or any type of capital gain.
In this case, Angie can benefit by deducting capital losses from the capital gains that fall into the highest tax category = $15,000 - $12,000 = $3,000 capital gain in the 28% category.
The remaining capital gains aren't affected = $5,000 in the 15% category.
The ___________ environment is composed of dimensions in the broader society that can influence an industry and the firms within it. Group of answer choices General Competitor Sociocultural Industry
Answer:
The General environment is composed of dimensions in the broader society that can influence an industry and the firms within it.
Explanation:
This are all external variables which impact the firm success and the society and region as a whole:
Demographics.EconomicsCulturalLegalPoliticsTechnologyAre the dimensions of the general environment.
What goods are available to all without direct payment? Group of answer choices Public goods Common goods Toll goods Private goods
Public goods are services or systems provided by the government, such as national defense and local streets, which are available to everyone without direct payment and are non-excludable and non-rival in nature.
Explanation:The goods that are available to all without direct payment are public goods. Unlike private goods, which are provided by private businesses and can be used only by those who pay for them, public goods are provided by the government and are available to everyone without charge. Examples of public goods include national defense, crime prevention, and local streets. These goods are non-excludable, meaning it's difficult to exclude people from using them, and non-rival, meaning one person's use doesn't prevent another's. As a result, there is often a free rider problem where individuals may benefit from the goods without contributing to their costs, leading to less than the socially optimal amount being provided unless they are funded by taxes.
Nivea became the leader in the skin cream class on the "gentle," "protective," and "caring" platform. The company further moved into classes such as deodorants, shampoos, and cosmetics. Attributes like gentle and caring were of no value unless consumers believed that its deodorant was strong enough, its shampoo would cleanse, and its cosmetics would be colorful enough. This is an example of ________.
A) competitive points-of-parity
B) competitive points-of-difference
C) category points-of-parity
D) category points-of-difference
E) competitive points-of-presence
Answer:
C) category points-of-parity.
Explanation:
With category points-of-parity the emphasis is on Nivea brand offering the relevant category features. These are features a brand must have to be considered competitors in a particular industry.
So for deodorants people want to know if they are strong, will the shampoo clean effectively, and will cosmetics be colourful.
Without these key features in the products Nivea would lose competitive advantage.
How do values influence decision making and help with your financial well being?
Explanation:
Values are the most important aspect that a human being should posses to move around people, to be in good books, to identify a candidate as good or bad, etc.
Values also influence decision making. Let us see how,
People take decision sometimes instantly. This works or does not works depending on the decision made and the way the decision has been is purely driven by the values learntValues includes Personal and past experience, personality types within him/her, social and cultural valuesAny human being to take decision only based on the above said pointers.Schmidt Company borrows $10,000 from its bank and signs a 6-month note. Interest, which is due quarterly, is specified in the note as 6%. The Interest rate stated in the loan agreement most likely applies to?
a) a 6-month period
b) an entire year
c) a 3 month period
d) semi-monthly
Answer:
b) an entire year
Explanation:
Interest rate that is specified on the loan agreement is annual interest rate applicable to the loan on different frequency of interest payments. 6% is the entire years interest rate. Schmidt Company will pay only $150 (10000 x 6% x 3/12 ) for one quarter. Schmidt Company has only two payments of 3 months interest for this loan in six month duration of loan.
Agency problems within a corporation are _______________. a. conflicts among stockholders with differing objectives b. conflicts between stockholders and financial intermediaries c. conflicts among managers with competing interests d. conflicts between managers and stockholders
Answer:
The correct answer is option d.
Explanation:
Agency problems can be defined as the problems that arise out of the conflict of interest when a party is expected to act in the best interest of others.
It arises out of a relationship between an agent and a principal. The agent is supposed to perform a task on behalf of the principal.
For instance, managers of a corporation are agents who are supposed to work in the best interests of principal, who are stockholders. Agency problems will arise when managers will act in their own self-interest instead of the stockholders'.
Tyree, a graphic designer with Lincoln Advertising, enjoys working for the company because of the flexibility of its management and its culture, which encourages risk-taking, innovation, and creativity. Tyree gets quick answers from his boss, allowing him and Lincoln Advertising to quickly respond to changes in the marketplace. Lincoln Advertising is an example of an adhocracy culture. True or false?
The given statement " Tyree, a graphic designer with Lincoln Advertising, enjoys working for the company because of the flexibility of its management and its culture, which encourages risk-taking, innovation, and creativity. Tyree gets quick answers from his boss, allowing him and Lincoln Advertising to quickly respond to changes in the marketplace. Lincoln Advertising is an example of an adhocracy culture " is TRUE
Explanation:
Advertising is a marketing plan that allows the advertising for a good, service or cause to be advertised. New advertising advertisements are called ads or quick ads.
Advertising seeks to reach people who are most prepared to pay for the goods or services of a business and to persuade them to purchase them.
A corporate culture is required in order to rapidly meet changing circumstances in the business setting. Flexibility, workers trust and focus on individual projects are the characteristics of adhocrats.
True, Lincoln Advertising is a representative example of an adhocracy culture, which is a flexible, adaptable, and informal type of organizational culture that values innovation, creativity and risk-taking.
Explanation:True, Lincoln Advertising is an example of an adhocracy culture. An adhocracy culture is a flexible, adaptable, and informal type of organizational culture that values innovation and risk taking. The fact that Tyree enjoys the flexibility of its management, the encouraged risk-taking, innovation, and creativity, and can quickly get answers from his boss to respond to changes in the marketplace, is indicative of an adhocracy culture. This type of culture allows the company to be responsive and adaptable to the external environment, which seems to be the case with Lincoln Advertising.
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Google Ads offers a variety of campaign types which determine where your ad will appear and the format in which it will be displayed. What are the available campaign types? a. Social, Video, App, Audio, and Shopping Ads b. Search, Display, Video, Print, and App c. Search, Print, TV, Shopping, and App d. Search, Display, Video, Shopping, and App
Answer: D. Search, Display, Video, Shopping and App
Explanation: Advertising with Google Ads starts with creating a campaign based on your business objectives. Each campaign type determines where your ads appear and the format in which those ads are displayed. Different campaign types — Search, Display, Video, Shopping, and App — can support your business objectives.
The available campaign types in G o o g le Ads are d. Search, Display, Video, Shopping, and App.
What do they offer?These campaign types offer diverse advertising formats and placements across different platforms to suit various marketing goals.
Search Campaigns: Displayed in G o o gle search results.
Display Campaigns: Appearing on G o o g le Display Network websites.
Video Campaigns: Video ads showcased on You T ube and other partner sites.
Shopping Campaigns: Featuring product ads on G o o g le Shopping.
App Campaigns: Promoting mobile apps across G o o gle's network, including Search, G o o g le Play, You T ube, and more.
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A customer has signed a Letter of Intent to buy at least $50,000 of a mutual fund in return for getting a lowered sales charge. The customer has already invested $40,000, and the customer notices on his account statement that the current NAV of the position is $52,000. The fund is going to make a distribution of the $12,000 capital gain. The registered representative recommends that the customer take the capital gain as cash and use the proceeds to buy shares of the fund to finish the breakpoint. This suggestion by the registered representative is inappropriate because it was not disclosed that:_______.
a. the break point has already been completed by the asset appreciation in the account.
b. customers can only complete break points with money that is not obtained from mutual fund share liquidations.
c. the capital gain would be automatically re-invested at NAV if not taken in cash while the purchase of the shares would occur at POP including a sales charge.
d. if the capital gain were automatically re-invested, there would be no tax due, but if the capital gain is taken in cash, it is taxable.
Answer:
c. The capital gain would be automatically re-invested at NAV if not taken in cash while the purchase of the shares would occur at POP including a sales charge.
Explanation:
An Asset appreciation doesn't in any way complete a breakpoint for a client. The client agreed to buy $50,000 of fund shares under a Letter of Intent to get a lower sales charge. If the customer doesn't deposit the full $50,000, then the sales charge is calculated to a higher percentage, which is based on the customer's purchase. The customer must deposit another $10,000 to complete the breakpoint.
If the customer were to take the capital gains distribution as cash and use that money to buy additional shares to complete the breakpoint, the customer would then have to pay a sales charge, which would be lower because the breakpoint is being completed. The customer must know that if the capital gains distribution were reinvested, it would occur at NAV and there would be no sales charge increase in sales charge. Whether the capital gain is taken as cash or it is reinvested, it is taxable.
At the morning status meeting, everyone goes around the room and shares what has happened overnight with the computer system and whether or not there are any change requests in the queue. Regardless of how many issues there seem to be, Joel says, "We can solve anything." What type of leader is Joel?A. He is an initiating-structure leader.
B. He is a transactional leader.
C. He is a relationship-oriented leader.
D. He is a passive leader.
E. He is a contingent leader.
Answer: (A) He is an initiating-structure leader
Explanation:
According to the given question, the Joel is basically refers to the initiating structure leader as this type of leaders initiating various types of action and the activities and it is also known as the task specific .
The main objective of initiating the structure leader is to achieve the desirable goals and focus on accomplished the given task.
The following are the function that is typically performed by the initiating-structure leader are as follows:
Coordinating the given taskFirstly initiating the actions Setting the desirable goals MotivatingTherefore, Option (A) is correct answer.
A company’s PR team submits a budget for the public relations program to management. The team has purposely asked for a bigger budget, knowing that management will cut certain parts of it. Which persuasion technique did the team use?
Answer:
Ask for More, Settle for Less
Explanation:
Persuasion is an influential parable term it may try and influence the values, emotions, expectations, motives, or actions of an individual.
In this technique ,the PR team asks for a huge amount of budget, understanding that some portions of it will be reduced by the administration but the team will be ready to take that step in less spending.
Sumaira is scared that she will not find a job in the current economy. She decides to be a business major and attend one of the top business schools in the country. Upon graduation, she is hired by a major investment banking firm in New York. Sumaira has completed:
1. A degradation ceremony.
2. Developing her sense of self.
3. Anticipatory socialization.
4. Developing her sense of morality.
Answer: C. Anticipatory socialisation
Explanation: Anticipatory socialisation is a term used in socialisation to describe the involvement of people or a person in a particular type of interaction, skills, study or training in order to enable the person or people acquire certain skills or certification, lincense or capacity to fit into a particular class,trade,job or group. For Sumaira, she enrolled in a top business school in order for her to gain the required skills or certificate needed for her to be employed.
What is the term for the "process of determining the specific tasks to be performed, the methods used in performing these tasks, and how the job relates to other work in an organization"?
Answer:
Job design
Explanation:
Job design is one of the basic functions of human resources management. It is so important because a good job design can help to convince highly skilled or talented workers to join a company. Not only do individuals look for jobs, companies need the best possible candidates. A good job design also increases productivity and overall profits.
Boris works as a receptionist. He's happy with his salary, he gets along well with his coworkers and his boss, there's no stress, and he can get all of his tasks done proficiently. However, he feels unfulfilled and hopes to get a different job soon. Which of the following does Boris lack?a. person-group fit
b. person-job fit
c. person-organization fit
d. person-vocation fit
Answer:
D) person-vocation fit
Explanation:
Person-vocation fit refers to the relationship between Boris's work and his true vocation. Vocation means the job that you really like to do or feeling strongly about doing.
In this case, Boris is good at doing his job and gets along well with his co-workers, but he really doesn't enjoy what he is doing and probably feels that he would be happier doing something else.
Choco Fantasy is a firm that produces both dark chocolates as well as liquor chocolates. It can produce 10,000 bars of dark chocolate per month if all its resources are used to produce only this variety. Similarly, using all its resources in the production of liquor chocolates, the firm can produce 8,000 bars per month.However, during a given month, the firm produces both varieties. Which of the following, if true, would suggest that the firm is operating at a point inside its PPF?
A. Current demand for both varieties is so high that similar chocolates are being imported by the country.
B. The firm believes in maintaining a certain amount of excess capacity to meet unexpected changes in demand.
C. All resources employed by Choco Fantasy are always put to their best use.
D. The firm is paying overtime to its workers as most of them are working extra hours to meet the peak season demand.
E. The firm is planning to hire more resources because of an anticipated increase in the demand for its chocolates
Answer:
B. The firm believes in maintaining a certain amount of excess capacity to meet unexpected changes in demand.
Explanation:
Production possibility curve shows the different combinations of two products that can be manufactured by a business. The production possibility frontier is the maximum combination of products a business can produce with given resources.
Beyond this point increase in production of one will lead to decreased production of the other.
So if excess stock of both products is being kept in anticipation of demand, the company is still operating within its PPF and has excess resources.
Lieutenant Columbo donned his raincoat and hopped into his 1959 Peugeot, hot on the trail of another condescending millionaire murder suspect. The Peugeot always drew stares, not because it was a rare automobile, but because it was an eyesore. It had one redeeming quality; every time he sat behind the wheel and turned the key in the ignition, it would start. Thus, the car scored well on the:
A) mix flexibility scale.
B) changeover flexibility scale.
C) reliability quality scale.
D) delivery reliability scale.
Answer:
C) reliability quality scale.
Explanation:
Lieutenant Colombo, the owner of the Peugeot, clearly has chosen to keep using the car, not because of how it looks, but because everytime he turned the keys, the car would start. This means that the car works as intended, which is the very definition of reliability.
In other words, the Peugeot is so reliable, that even if it looks poorly (it is described as an eyesore) it is still in use.
t the beginning of the year, Addison Company's assets are $300,000 and its equity is $100,000. During the year, assets increase $80,000 and liabilities increase $50,000.
What is the equity at the end of the year?
2. Office Store has assets equal to $123,000 and liabilities equal to $47,000 at year-end.
What is the total equity for Office Store at year-end?
3. At the beginning of the year, Quaker Company's liabilities equal $70,000. During the year, assets increase by $60,000, and at year-end assets equal $190,000. Liabilities decrease $5,000 during the year.
What are the beginning and ending amounts of equity?
The year-end equities for Addison Company, Office Store and Quaker Company are $330,000, $76,000, and $125,000 respectively.
Explanation:The equity can be calculated if you have the assets and liabilities. The formula to calculate equity is: Equity = Assets - Liabilities.
Addison Company: At the beginning of the year, assets are $300,000 and equity is $100,000. During the year, assets increase by $80,000, and liabilities increase by $50,000. So, the ending assets are $380,000 ($300,000 + $80,000). Subtract the increase in liabilities from the end-year assets to get the year-end equity: Equity = $380,000 - $50,000 = $330,000.Office Store: Its assets are $123,000 and liabilities are $47,000. So, the equity would be: Equity = $123,000 - $47,000 = $76,000.Quaker Company: Initially, liabilities are $70,000. During the year, assets increase by $60,000, and at year-end, assets are $190,000. Liabilities decrease by $5,000. So, at the start of the year, Equity = $130,000 (Initial Assets - Initial Liabilities = $200,000 - $70,000). At the end of the year, Equity = $190,000 - $65,000 = $125,000.Learn more about Equity Calculation here:https://brainly.com/question/32410697
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Joy and Kersey want to open a magic and novelty shop as Jo-Kers, with a plan to open other shops in the future. To attain limited liability for the lowest cost and the fewest start-up formalities, their best option is to form
Answer:
Limited Liability Company
Explanation:
Limited Liability company refers to a form of business which has characteristics of both partnership and a corporation. In a limited liability company, the owner's liability is limited to the amount of capital contributed by them.
Such a set up retains the traits of a company wherein capital can be raised from public for expansion, at the same time depicts some aspects of partnership with respect to profit sharing.
In the given case, Joe and Kersey are desirous of opening a magic and novelty shop with vision to expand the number of such shops in the near future. The priority being limiting the liability and lowering cost with least required formalities for start up.
The best option would be to form a limited liability company( LLC).
Final answer:
Joy and Kersey's best option for opening their novelty shop with limited liability and minimal formalities is establishing a Limited Liability Company (LLC). An LLC offers liability protection like a corporation but with fewer administrative requirements and could be less costly.
Explanation:
Joy and Kersey want to open a magic and novelty shop as Jo-Kers and are looking for the best business structure that provides limited liability with the lowest cost and the fewest start-up formalities. Considering their needs, forming a Limited Liability Company (LLC) is likely their best option. An LLC combines the liability protection of a corporation with the tax efficiencies and operational flexibility of a partnership.
The process to establish an LLC typically includes choosing a unique business name, filing the Articles of Organization with the appropriate state agency, and paying a filing fee, which is relatively low compared to starting a corporation. Additionally, an LLC does not require a board of directors, shareholder meetings, or annual reports in most states, making it less cumbersome administratively than a corporation.
A marketing manager for a small laptop manufacturer is analyzing the potential effects of political, legal, sociocultural, and economic forces on the firm's operations. The marketing manager is examining the ____ that influence(s) the firm's strategy
Answer:
marketing environment
Explanation:
Marketing environment -
It refers to all the external as well as the internal factors , which is present in the surrounding of the business and alters or influences the marketing process of the goods and services , is referred to as the marketing environment .
The internal factors are - distributors , retials , shareholders , employees , consumers etc.And ,
The external factors are economic , technological , social , legal and political aspects .Hence , from the given information of the question,
The correct term is marketing environment .
Khoa chooses a topic for his company's blog that will allow him to write relevant posts for the next year. Which of the following is he restricting? A. Access B. Usage C. Audience D. Scope E. Purpose
Answer:
He is restricting purpose.The answer is E.
Explanation:
How do the changes with age of the prevalence rates for externalizing and internalizing disorders compare?
Answer:
As we age, Externalization disorders decline, while internalization disorders intensify.
Explanation:
Internalizing habits and disorders are mainly characterized by self-related factors such as distress, drowsiness and depression. While Externalizing habits and disorders are generally identified by acts in the outside world, such as reacting out, anti social behavior, violence, and aggression.
Externalisation is mostly associated with our youthful time when we are young wild and free and a s we grow we outgrow such behaviour due to responsibility and interactions of life so therefore it decreases. While internalisation increases as we grow older because of the people we met and the responsibilities and life changing experience we have had.
Which of the following generalizations about services is INCORRECT? options: Service facilities must be designed for good customer interaction and movement through their facilities and their processes. Service facilities tend to rely more on information-based hardware and softwar0 Service facilities must be located close to suppliers and laborers. Service facilities require flexibility and adaptation to special circumstances.
Answer:
Service facilities must be located close to suppliers and laborers.
Explanation:
Services, unlike products, are intangible and are not produced or delivered the same way as products are.
While production facilities for products, should be located close to suppliers and laborers, this is not the case with service facilities.
The incorrect generalization about services is that service facilities must be located close to suppliers and laborers.
Explanation:The incorrect generalization about services is that service facilities must be located close to suppliers and laborers. While proximity to suppliers and laborers may be advantageous in some cases, it is not a requirement for all service facilities. Other factors such as customer demand, market access, and transportation infrastructure also play a significant role in determining the location of service facilities.
For example, a software development company might establish its service facility in a technology hub or a city with a large talent pool, rather than being solely guided by proximity to suppliers and laborers.
Therefore, the incorrect generalization is that service facilities must be located close to suppliers and laborers.
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Sharon is given two options. Option 1 allows her to take $5. Option 2 allows her a 1/3 chance of winning $50, but she risks losing $10, 2/3 of the time. Sharon chooses option 1. What best describes Sharon?
A. risk-averse
B. risk-neutral
C. gambling-averse
D. risk-seeing
Answer:
A. Risk Adverse
Explanation:
A Risk adverse person is a person which at all times is ready to take a small amount of money than than taking risk that might result to such person having or winning a higher sum.
Sharon's decision to take the $5 bet instead of taking the risk of getting $50 with the probability of losing up to $10 shows that she is a risk adverse (i.e she is reluctant to take risks )
In Mordica Company, total materials costs are $35,500, and total conversion costs are $54,000. Equivalent units of production are materials 10,000 and conversion costs 12,000. Incorrect answer. Your answer is incorrect. Try again. Compute the unit costs for materials and conversion costs. (Round answers to 2 decimal places, e.g. 2.25.) Materials cost per unit $Entry field with incorrect answer now contains modified data Conversion cost per unit $Entry field with incorrect answer LINK TO TEXT Incorrect answer. Your answer is incorrect. Try again. Compute total manufacturing costs. (Round answer to 2 decimal places, e.g. 2.25.) Total manufacturing cost per unit
Explanation:
The computation is shown below:
Material Cost per unit = Total Material Cost ÷ Equivalent units of production
= $35,500 ÷ 10,000 units
= $3.55
Conversion Cost per unit = Total conversion cost ÷ Equivalent units of production
= $54,000 ÷ 12,000 units
= $4.5
Total Manufacturing cost per unit = Material cost per unit + conversion cost per unit
= 3.55 + 4.5
= $8.05
The unit costs for materials and conversion costs are $3.55 and $4.50 respectively. The total manufacturing cost is $89,500.
Explanation:To compute the unit cost for materials, divide the total materials costs by the equivalent units of production for materials. In this case, the unit cost for materials would be $3.55 ($35,500 / 10,000). To compute the unit cost for conversion costs, divide the total conversion costs by the equivalent units of production for conversion costs. In this case, the unit cost for conversion costs would be $4.50 ($54,000 / 12,000).
To compute total manufacturing costs, sum up the total materials costs and the total conversion costs. In this case, the total manufacturing cost would be $89,500 ($35,500 + $54,000).
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A customer of Landen Consulting Company makes a $400 payment of cash on a bill for services provided last month. Record this transaction into the accounting equation of Landen Consulting by: (Check all that apply.)
Answer:
See answer below
Explanation:
In the books of Landen Consulting, the cash payment will be recorded as follows.
Debit Cash Account $400
Credit Account Receivables $400 (this would have been Revenue if the payment was made in the same month).
Since both accounts affected are assets account, the effect of the transaction on the accounting equation will be as follows.
Equity + Liabilities = Assets
Equity + Liabilities = Assets + Cash ($400) - Account Receivables ($400)
= Equity + Liabilities = Assets.
Final answer:
The transaction of a $400 payment made by a customer to Landen Consulting Company increases cash and decreases accounts receivable, affecting the company's accounting equation, but does not impact revenue or accounts payable.
Explanation:
The act of a customer making a $400 payment on a bill for services previously provided by Landen Consulting Company is a financial transaction that affects the company's accounting equation. When the customer pays cash to settle their outstanding receivables, this transaction will result in an increase in the company's cash and a corresponding decrease in accounts receivable.
From an accounting perspective, this is recorded as:
Increasing Cash, $400. Reason: Cash is an asset, and when the company receives money, this asset increases.Decreasing Accounts Receivable, $400. Reason: The payment satisfies the outstanding debt owed to the company by the customer, thus reducing the firm's receivables.It's important to note that revenue is not directly affected by this transaction because revenue was already recognized when the service was originally performed, following the accrual basis of accounting. The business would have recorded a debit to accounts receivable and a credit to service revenue at the time the service was provided.
Regarding liability accounts such as accounts payable, this transaction does not affect them because accounts payable typically involve debts the company owes to its suppliers, not what customers owe the company.
What would be the journal entry for each of the listed transactions? For each transaction, how Cedar Fair’s assets, liabilities, and equity would be impacted by each individual transaction?
Answer:
Following are the transactions and their effects on Cedar's balance sheet
May 1: Sell admission tickets, $100,000, cash
Transaction:
Sell admission ticket- Debit
Cash- Credit
Impact
the sell tickets shall increase the expense and decreasing the reserves and cash will be credited resulting in decreasing the current assets,
May 3: Purchase merchandise inventory, $5,000, on account
Transaction:
Purchase Inventory- Debit
Accounts payable- Credit
Impact
both will result in increasing in current assets and current liabilities.
May 6: Rent lockers to guests, $500, cash
Transaction:
Rent lockers- Debit
Cash- Credit
Impact
the rent lockers shall increase the expense and decreasing the reserves and cash will be credited resulting in decreasing the current assets,
May 15: Pay employees, $75,000, cash
Transaction:
Pay employee- Debit
Cash- Credit
Impact
the Pay employee shall increase the expense and decreasing the reserves and cash will be credited resulting in decreasing the current assets,
May 20: Borrow money from bank by signing a six-month note, $200,000
Transaction:
Cash- Debit
Note Payable- Credit
Impact
both will result in increasing in current assets and current liabilities.
Journal entries in business accounts involve a debit and a credit to different accounts, like assets, liabilities, and equity. For example, purchasing a new asset increases the assets account and depending on how it's financed, either increases liabilities or decreases equity.
Explanation:The journal entry for each transaction in Cedar Fair's accounts would depend on the nature of the specific transactions. Generally, when a company like Cedar Fair makes a transaction, it impacts their assets, liabilities, and equity. For example, if Cedar Fair were to purchase a new roller coaster, it would debit (increase) its assets account in the journal entry, because it has acquired a new asset. The credit side of this entry would depend on how the purchase was financed. If Cedar Fair borrowed money to finance the purchase, it would simultaneously credit (increase) its liabilities account, because it now owes more money. If instead, the purchase was financed through business earnings, it would credit (decrease) its equity account, because it has used up some of its earnings (retained earnings).
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Kate takes a part-time job and the sacrifice of study time causes her grade point average to fall from 3.5 to 2.9. Assume that the grade point average would have stayed at 3.5 if study time had not been reduced. The opportunity cost of having taken the job is the ________.a. cost of tuition b. 3.5 grade point average c. 0.6 decrease in the grade point average d. 2.9 grade point average e. money earned from the part-time job
Answer:
The correct answer is option c.
Explanation:
The opportunity cost of an economic decision can be defined as the cost of sacrificing or giving up the second-best alternative. Since the resources are scarce and have alternative uses we have to give up some uses in order to choose one.
Kate earlier had a grade point average of 3.5.
She took up a part-time job. Her grade fell to 2.9, as a result of the reduction in study time.
The opportunity cost of taking up the job will be the loss of 0.6-grade point average.
What environmental factors have affected the types of costs in the airline industry after 2001? what specific tactics has southwest deployed to blunt or exploit these environmental factors? how have these factors influenced southwest airline's marketing strategy?
Explanation:
In 2001 there was a major crisis in the entire air sector, motivated mainly by the terrorist attacks that occurred, the scarcity of oil and the recession.
There have been strong political, economic, environmental, technological changes, etc., which have affected most airlines, such as Southwest Airlines.
Airline companies then had to adopt some strategies to overcome the crisis, such as the adoption of stricter security control procedures, to increase the reliability of services and people, who were prevented by the terrorist attacks and stopped flying. Advances in technology have also positively impacted aviation, currently there is more control, greater inspection of tickets and luggage and greater security.
The companies also took the cost cut by offering fewer flights so that the planes were filled with enough passengers to be able to generate a profit.
Post-2001, the airline industry faced increased costs due to rising fuel prices, stricter emission regulations, and enhanced security needs. Southwest tackled these with efficient aircraft and fuel hedging, along with operational efficiency for emissions compliance. This contributed to their 'value for money' marketing strategy.
Explanation:After 2001, several environmental factors have affected the cost dynamics in the airline industry. These include increasing fuel costs, strict regulations related to environmental emissions, and heightened security regulations post-9/11. Southwest Airlines deployed several strategies to tackle these factors. They heavily invested in fuel-efficient aircraft and hedged fuel prices to reduce fuel costs. They also strived for operational efficiency to comply with emission regulations. The landscape led Southwest to a marketing strategy that emphasized value for money, projecting itself as a 'low-cost carrier' without compromising safety.
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If a $4,000 debit to Equipment in a journal entry is incorrectly posted to the ledger as a $4,000 credit and the ledger account has a resulting debit balance of $20,000, what is the effect of this error on the Trial Balance column totals?
Answer:
The totals of Trial balance have a difference of $8,000. The credit balance totals of Trial balance is higher than the debit totals because the original entry of debit is mission and there is an wrong posing on the credit side which reduce the debit balance by $4,000 and Increase the credit balance by $4,000 at the same time. Net effect will be $8,000 in totals of trial balance.