Answer:
40
Explanation:
10*4
The price elasticity of demand indicates how much the quantity demanded changes when there is a change in price. For Stork ice cream, a 10% decrease in quantity demanded implies a 2.5% increase in price, given its price elasticity of -4.
Explanation:The price elasticity of demand is a measure of how much the quantity demanded of a product changes when there is a change in its price. In this case, Stork ice cream has a price elasticity of demand of -4. This means that for every 1 percent increase in price, the quantity demanded falls by 4 percent. If the quantity demanded fell by 10 percent, this implies that the price of the Stork ice cream must have increased by 2.5 percent.
To find this, we can use the formula for price elasticity of demand: Percentage change in quantity demanded / Percentage change in price = -4. By transposing the equation, we can find that the Percentage change in price = Percentage change in quantity demanded / -4. Hence, -10% / -4 = 2.5%.
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In criminal procedure context, a rule under which any evidence that is obtained in violation of the accused's constitutional rights guaranteed by the 4th, 5th, or 6th amendments to the U.S. Constitution, as well as any evidence derived from the illegally obtained evidence, will not be admissible in court is called___________-
Answer:
the exclusionary rule.
Explanation:
The exclusionary rule basically applies to all the evidence gathered illegally, or in violation of your constitutional guarantees. Generally this type of exclusions are for evidence obtained while breaching your fourth amendment rights, but it can apply to all the violations of the fifth and sixth amendments.
The Supreme Court established the exclusionary rule in Mapp v. Ohio (fourth amendment violations) and Miranda v. Arizona (fifth and sixth amendment violations).
A popular train station has free parking for commuters who take the train. This often results in many people being unable to find a parking spot and missing their train. To solve this problem, all commuters should be:a. given a parking pass along with their ticket. b. exempt from parking lot fees. c. barred from parking at the station.d. required to pay for parking.
Answer:
A popular train station has free parking for commuters who take the train. This often results in many people being unable to find a parking spot and missing their train. To solve this problem, all commuters should be:
To solve the problem, all commuters should be required to pay for parking.
Explanation:
When commuters pay for such service rendered it would reduce the traffic generated by commuters as a result of a fee attached to it.
Final answer:
Requiring commuters at a busy train station to pay for parking could help to manage the demand for parking spaces, discourage overuse, and encourage the use of alternative transport options. This concept is similar to public parks charging for certain amenities.
Explanation:
The situation described involves the management of a public good, in this case, commuter parking at a train station. Given that the parking is free and leads to a scarcity of spots, a policy change could mitigate this issue. Option (d), requiring commuters to pay for parking, may reduce demand and ensure that only those who truly need parking pay for it.
This system is comparable to public city parks, which are free to use, but can charge fees for parking and other amenities. Paying for parking could also encourage commuters to seek alternative transportation, thereby reducing congestion and further aligning with public transportation goals as highlighted in the given examples.
Which of the following are universal functions of marketing? a. storing b. risk-taking c. financing d. transporting e. all of the above f. none of the above
Answer:
e. all of the above is the correct answer.
Explanation:
The functions of marketing are to know the customer's demands and to satisfy customer needs.
Universal functions of marketing are
Buyingstoring: products are stored in the warehouse until the customers require them.Risk-taking: Marketer takes a chance when any new product is launched in the market as there is a chance of both profit and failure.selling: promotion of the product is done by advertisements and also by personal sales. grading: sorting and grading of the products are done as per their quality.transportation: is used to transport the products from the production place to the place for shopping.securing market information:Gathering information about customers, competitors, wholesalers that help in making marketing conclusions.financing: giving a require cash tp produce, store, sell and transport the products.Eve, an experienced automotive engineer, signs a ____________ agreement with her employer, Environmental Auto Co., that she will never work in the auto industry after she leaves employment with Environmental. A court considering this agreement will ____________.
Answer: The answers are noncompete; declare it void as geographical area is not specified.
Explanation: A noncompete agreement is an agreement between an employer and an employee restricting an employee from working in same industry after resignation.
However, for a noncompete agreement to be enforceable by law it has to specify a geographical area.
Answer:
The question is not complete.
Here is the complete question:
Eve, an experienced automotive engineer, signs a ____________ agreement with her employer, Environmental Auto Co., that she will never work in the auto industry after she leaves employment with Environmental. A court considering this agreement will ____________.
a)non-compete; only enforce the agreement if it resulted from a bargained-for exchange
b)non-compete; enforce the agreement only if such agreements are customary in the auto industry
c) non-compete; declare it void as geographical area is not specified
d) restrictive employment:; enforce the agreement in any event
Here is the answer:
c) non-compete; declare it void as geographical area is not specified
Explanation:
Employers normally demand employees to sign non-compete agreement when taking up employment with the employer. The major reason for this demand is for employer to protect his business idea and interest and prevent employee stealing and using his business idea while in employment with him and after leaving the employment.
However, non-compete is hard to enforce in the court of law. And there are many conditions to be met before it can be enforced. One of such conditions is definition of scope of location in which the employee will not compete with the employer. Any non-compete agreement without this specified geographical area will be void, not enforceable.
So in this case, Eve signs a non-compete agreement with Environmental Auto and a court considering this agreement will declare void,as geographical area is not specified .
A manager striving to improve organizational ___________ is accomplishing tasks that help achieve organizational objectives. a. efficiency b. effectiveness c. functionality d. synergy e. productivity
Answer:
The answer is B.Effectiveness.
Explanation:
Effectiveness is accomplishing tasks that help fulfill organizational objectives.
The state of Idaho has a two-year statute of limitations for personal injury actions. Graham was injured by Alice in a car accident on January 1, 2013. If Graham wants to bring a lawsuit against Alice on January 15, 2015, which of the following is most likely to be the outcome?A) Graham is allowed to sue Alice after appealing for an extension of the statute of limitations.
B) Graham is not allowed to sue Alice,having lost his right to sue her.
C) Graham can sue Alice but will not receive damages.
D) Graham can sue Alice but is not entitled to a jury trial.
Answer:
B) Graham is not allowed to sue Alice,having lost his right to sue her.
Explanation:
Time limits matter, and the law is very strict on enforcing time limits. If the statute of limitations for personal injures is X amount of years, and the injured person doesn't file a claim within that period, then it is not a valid claim.
I guess that there are some exceptions, like if the injury was so severe that Graham was in coma for more than 2 years, then he wasn't capable of filing a claim before, but those are exceptions, not the rule.
Since the accident happened two years and 14 days before Graham's claim, and the statute was only 2 years, then the claim is not valid.
The value of a car produced and sold in 2000 and sold again to a second owner in 2008 would be included in GDP for: a. either 2000 or 2008, but not both. b. 2008 only. c. both 2000 and 2008. d. 2000 only.
Answer:
D: 2000 only.
Explanation:
Gross Domestic Product (GDP) includes all final goods and services produced within a country, in a specific period and doesn't necessarily include all the transactions that are going in the economy.
For example: Used domestic car buying or selling won't be counted for the GDP of current year, as it was manufactured and sold in 2000.
Charlotte runs her mother's nursery. She has a group of gardeners working for her. While she makes sure that they put undivided effort into their work, she occasionally allows them to bring their children to work. The gardeners perform their tasks effectively and also feel motivated at work. In the context of the Blake/Mouton leadership grid, which of the following leadership styles is Charlotte using in this scenario?
A) The middle-of-the-road style
B) The country club style
C) The authority-compliance style
D) The impoverished style
Answer:
A) The middle-of-the-road Style.
Explanation:
This leadership style is sustained in the center of the grid and shows balanced and equal concern for every employee and production process. Hence the case study indicates Charlotte displaying the same leadership qualities.
For reference, please see the attachment which contain the Blake Mounton Managerial Grid.
Middle of the road style is the optimal one and shows balance and equal in every aspect according to the given scenario.
A price floor that is set above the normal equilibrium price will lead to: A. An decrease in consumer surplus, a decrease in producer surplus and dead weight loss. B. A decrease in consumer surplus, a increase in producer surplus and dead weight loss. C. An increase in consumer surplus, a decrease in producer surplus and dead weight loss. D. An increase in consumer surplus, a increase in producer surplus and dead weight l
Answer:
B. A decrease in consumer surplus, a increase in producer surplus and dead weight loss
Explanation:
Price floor is the minimum price for which a good or service can be sold. When price floor is above equilibrium price, quantity demanded falls while quantity supplied increases.
Consumer surplus is the difference between the willingness to pay of a consumer and the price the consumer pays for the product.
Consumer surplus would reduce because price has increased.
Producer surplus is the difference between the least price a producer is willing to sell his product and the price of the product.
Producer surplus would increase as a result of the rise in price.
Deadweight loss is reduction in social surplus as a result of the price floor.
I hope my answer helps you
John is the sole proprietor of a furniture manufacturing business. His 18 year-old daughter Jane is an employee of the business and works alongside John in making the furniture. Jane earns $40.00 per hour. She works 40 hours per pay period. How much in FICA tax (7.65%) is withheld from Jane's paycheck per pay period?A. $61.20.
B. None of the other choices are correct.
C. $0.00
D. $24.80
E. $30.60
Answer:
Correct option is (B)
Explanation:
As per IRS, if a child works in his/ her parent's company, be it sole proprietorship or partnership firm (if all partners are the child's parents), he/ she is not liable to pay FUTA for employing child below 21 years old. FICA taxes need to be paid if the child is above 18 years of age or above.
In this case, Jane is 18 years old and is working in her father's firm. She is not required to pay FUTA taxes, but 7.65% of her wages are withheld from her wages for FICA taxes as she is 18 years old.
Jane's income per period = $40 × 40 hours = $1,600
Amount withheld for FICA taxes = 0.0765 × 1,600
= $122.40
Arnold gave land to his son, Bruce. Arnold's basis in the land was $100,000, and its fair market value at the date of the gift was $150,000. Bruce borrowed $130,000 from a bank that he used to improve the property. He sold the property to Della for $360,000. Della paid Bruce $90,000 in cash, assumed his $120,000 mortgage, and agreed to pay $150,000 in two years. Bruce's selling expenses were $10,000. Della is going to pay adequate interest.
Compute the following amounts:
a. Bruce's basis in the land at the time of the sale is ______.
b. When computing his realized gain, what amount does Bruce use as the selling price and as the contract price?
Selling price: $ ______.
Contract price: $ ______.
c. Bruce's total realized gain on the sale is $ ______, but his recognized gain in the year of the sale is $ ______.
Answer:
A) Bruce's basis in the land at the time of the sale = $100,000 (same as his father's)
B) When computing his realized gain, what amount does Bruce use as the selling price and as the contract price?
Selling price= $360,000.
Contract price = $360,000 (selling price) - $120,000 (assumed mortgage) = $240,000.
C) Bruce's total realized gain on the sale = $360,000 - $10,000(selling costs) - $230,000(land + improvements) = $120,000
But his recognized gain in the year of the sale is = ($120,000 / $240,000) x $90,000 = $45,000
The present value of an annuity considers which of the following factors? I. the timing of each cash flow II. the amount of each cash flow III. the discount rate IV. the number of cash flows
Answer:
All of them.
Explanation:
For considering the annuity formula we can determinate all the proposed factor:
[tex]C \times \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C represent II the amount of each cash flow
r = represent the discopunt rate
while time or "n" represent the numebr of cashflow we have to calcualte the present value.
The timing refer wether the payment are made at the beginning or end of the period.
When made at the beginning it is an annuity-due
and the (1+r) factor multiplies the previous formula to represent the addtional period of capitalization each cashflow has or the one period less to discount for each cashflwo in cases of prresent value.
A marketing research supplier that quotes an unrealistically low price for marketing research, only to raise it with add-ons, etc., is engaging in the ethical breach known as _______.
Answer:
A marketing research supplier that quotes an unrealistically low price for marketing research, only to raise it with add-ons, etc., is engaging in the ethical breach known as;
Low-ball pricing.
Explanation:
A market research supplier is a market research company that offers various services to its clients including; problem identification, data collection and analysis, research design and reporting. Businesses rely on accurate and reliable information for their success. This provides a base of knowledge about the existing and prospective customers, which is important in formulating strategies to ensure that set organizational goals are achieved. They also provide information about the competition which can be used to find ways of gaining a competitive advantage over them. Market research is also important in the planning process to ensure that all alternatives are considered beforehand to ensure that only the ones with higher potential of success is considered.
In the field of marketing research, there are ethical standards and practices to be met. Ethical standards are there to control the behavior of professionals in that particular field. However, there are certain behaviors that are considered as an ethical breach. An example is low-ball pricing which is the act of using a low price initially to attract clients then raising the price of the research later on through other means that the client was not aware of.
Issued by money-centered financial firms, these short- or medium-term insured debt instruments pay higher interest than a regular savings account. They are low-risk instruments and have low returns.
Answer:
Certificates of deposit.
Explanation:
Certificates of deposit are also called time deposits, they have a fixed tenure and pay interest above the normal saving a account rate.
The rates can be fixed or negotiable. Larger deposits attracts higher interest rates, also longer term deposits have higher returns.
Many influential economists, politicians, and business leaders think that a shift toward a more integrated and interdependent global economy is a good thing. there is evidence to support the theory that falling barriers to international trade and investment drive the global economy toward greater prosperity. there are, however, critics who argue against globalization. anecdotes, evidence, and arguments can be collected to support each side of the debate.
Answer:
Many influential economists, politicians, and business leaders think that a shift toward a more integrated and interdependent global economy is a good thing. there is evidence to support the theory that falling barriers to international trade and investment drive the global economy toward greater prosperity. there are, however, critics who argue against globalization. anecdotes, evidence, and arguments can be collected to support each side of the debate.
Without mincing words, in the real world everyone knows that politics controls economics, businesses among others. The global economy as at today is general controlled by politics as the most powerful country of the controls the economy. e.g the issue that generated lots of discussion around the globe in the last few months between iran and USA which makes the oil price to be skyrocket as a result of imminent war between both countries.
Explanation:
The _________________ assesses how likely a customer is to not purchase from one of the companies in the market but instead use one of the substitute products to accomplish their goals.
The price assesses how likely a customer is to not purchase from one of the companies in the market but instead use one of the substitute products to accomplish their goals.
Explanation:
Selling price is the price at which a product or service is sold to the buyer. However, cost price is the price that is incurred to produce a product or provide a service to the buyer. Formula to calculate selling price. The selling price is the sum total of the cost price and the profit margin set by the seller.
Price of a product highly influences the sale of the product because the consumers prefer to pay lesser price for a product which have close substitutes of the goods and commodities.
Delectable Foods produces a gourmet condiment that sells for $18 per unit. Variable cost is $6 per unit, and fixed costs are $5,000 per month. If Delectable expects to sell 1,500 units, compute the margin of safety in dollars.
A. $1,083
B. $19,494
C. $6,498
D. $5,000
Answer:
B. $19,494
Explanation:
In order to find out the margin of safety in dollars, first we have to compute the break even point in dollars that is shown below:
Break even point = (Fixed cost) ÷ (Profit volume Ratio)
where,
Contribution margin per unit = Selling price per unit - Variable expense per unit
= $18 - $6
= $12
And, Profit volume ratio = (Contribution margin per unit) ÷ (selling price per unit) × 100
So, the Profit volume ratio = (12) ÷ (18) × 100 = 66.67%
And, the fixed cost is $5,000
Now put these values to the above formula
So, the value would equal to
= ($5,000) ÷ (66.67%)
= $7,500
Now the margin of safety equals to
= Expected sales - break even sales
where,
Expected sales = Selling price per unit × Unit sales per month
= $18 × 1,500 units
= $27,000
And, the break even sales is $7,500
= $27,000 - $7,500
= $19,500
Given below is the price-demand equation for the production of tennis shoes where x is the number of pairs of tennis shoes that can be sold at a price of $p dollars. p = 35 − x (a) Determine the revenue function and the marginal revenue function.
Answer:
R(x) = 35x - x^{2}
MR(x) = 35 - 2x
Explanation:
Given that,
price-demand equation: p = 35 − x
x is the number of pairs of tennis shoes
Selling price of a pair of shoes = $p
Revenue is calculated by multiplying selling price with the number of units sold.
Revenue function: R(x) = Selling price × Number of units sold
= px
= (35 - x) x
= [tex]35x-x^{2}[/tex]
Marginal revenue function is calculated by differentiating the revenue function.
Now, differentiating R(x) with respect to x,
Marginal revenue function: MR(x) = 35 - 2x
Management believes that supply cost is a mixed cost that depends on client-visits. Use the high-low method to estimate the variable and fixed components of this cost, Compute the variable component first, rounding off to the nearest whole cent. Then compute the fixed component, rounding off to the nearest whole dollar. Those estimates would be closest to: (Round your Variable cost per unit to 2 decimal places.)
$2.00 per client-visit; $28,637 per month
$.89 per client-visit; $17,708 per month
$0.35 per client-visit; $24,261 per month
$0.31 per client-visit; $24,766 per month
Answer:
$0.31 per client-visit ; $24,766 per month
Explanation:
month clients supply cost
March 11,661 $28,575
April 11,457 $28,409
May 11,989 $28,833
June 13,400 $28,920
July 11,721 $28,636
August 11,207 $28,235
Sept. 12,001 $28,834
October 11,692 $28,592
Nov. 11,840 $28,717
variable cost per unit = change in cost / change in activity = ($28,920 - $28,235) / (13,400 - 11,207) = $685 / 2,193 = $0.31 per client visit
fixed cost = total cost - variable cost = $28,920 - (13,400 x $0.31) = $28,920 - $4,154 = $24,766
3. Why does the infant mortality rate relate to a country's level of development?
A The rate is a predictor of the adult literacy rate.
O
B
The rate is an indicator of nutrition and health care.
The rate is high in some very industrialized countries.
O
D
The rate is low in a few nonindustrialized areas.
Answer:d
Explanation:
Answer:
The answer is B. The rate is an indicator of nutrition and health care.
Explanation:
Infant mortality rate means how many children die at birth and/or before reaching the age of 05. This is an indicator of the health sector and it's development in a country.
Mainly, this is because a significant and technologically advanced health sector with a substantial capital investment is required to cater to the health needs of new borns, children and their mothers special health requirements.
59) David and Laura are planning an e-commerce company for business travelers. They want to be sure that all the employees have a wide scope of decision-making authority. Which kind of organizational structure is most appropriate for this kind of work? A) divisions focused on customer groups B) a highly centralized structure C) highly specialized departments D) employees grouped according to function E) authority concentrated in a few people at the top
Answer:
C) highly specialized departments.
Explanation:
Highly specialised department are formed when professionals are grouped in a department and decisiin-making that affects that arm of the business is done within the department to meet set targets.
In this business structure employees have more power to influence everyday operations, while major decisions that affect overall goals of the business are taken by top management.
Avon was known as the company that sold cosmetics door-to-door for a long time. In order to grow and reach new markets it began to sell jewelry through its door-to-door sales force. This involved marketing new products through existing channels of distribution. It also is now selling its products by mail order and has opened retail stores. Avon is an example of a company effectively using which strategy?
Answer:
Diversification
Explanation:
Avon is growing (diversifying) into the jewellery market place using the channel it already has (door-to-door sales). In addition it has also employed various means of distribution for its products including mail order and retail stores.
The additional distribution channels will bring Avon's product Tina larger market.
Taylor organizes and manages all his files and folders logically. How does this activity help Taylor in his daily work environment?
Answer: improves efficiency for Taylor at work
Explanation:
Taylor's ability to manage all his files and folders logically helps him to be efficient in his work place. He is able to track every event, plan his day and knows what to do when either things are going well or not, and how to follow every detail of his business.
Most economists assume that the goal or objective of business firms is to ________. a. maximize sales. b. socially responsible. c. satisfice. d. maximize size. e. maximize profits.
Answer:
maximize profits.
Explanation:
Th economist assume that the goal of objective of the business is to maximize the profit and add value to their business and shareholders as well. The businesses use marginal benefit and marginal cost to measure the value of benefit. Business also has other objectives which support the profit maximization like cost minimization, customer satisfaction etc
Al agrees to sell goods to Betty for a contract price of $3,000 due on delivery. Betty wrongfully rejects the goods and refuses to pay anything. Al resells the goods in strict compliance with the Code for $2,000. He incurs incidental damages for sales commissions of $200 but saves $150 in expenses because of the resale. Al is entitled to recover $1,050 from Betty.
Answer:
True
Explanation:
Since there is an agreement between AI and Betty and Betty did not honour the agreement which is even wrong, AI is entitled to recover $1,050 from Betty.
The $1,050 is derived by: the difference between the agreed price and the resale price, plus the incidental damages incurred during resale minus the amount saved in expenses.
That gives us: ($3,000 - $2,000) + $200 - $150
= $1,000 + $200 - $150
= $1,050.
Cheers.
The Plaza Cafe has an operating cash flow of $78,460, depreciation expense of $8,960, and taxes paid of $21,590. A partial listing of its balance sheet accounts is as follows:
Beginning balance Ending balance
Current assets 141,680 138,509
Net fixed assets 687,810 703,411
Current liabilities 87,340 91,516
Long-term debt 267,000 248,000
What is the amount of cash flow from assets?
a) $58,913
b) $61,246
c) $64,128
d) $61,487
e) $63,909
Answer:
$61,246 Cash Inflow
Explanation:
Computation of Cash FlowCash flow from operating $78,460
Add : Opening current assets $141,680
Opening fixed assets $687,810
Closing current liabilities $91,516
$999,466
Less: Closing current assets $138,509
Closing fixed assets $703,411
Opening current liabilities $87,340
Depreciation Expenses $8,960
Cash Inflow $61,246
Final answer:
To determine the cash flow from assets, calculate the Net capital spending and change in Net working capital to find the cash flow amount. The correct answer is $61,246, which makes the correct option b.
Explanation:
The cash flow from assets can be calculated using the formula: Cash flow from assets = Operating cash flow - Net capital spending - Change in NWC. First, calculate the Net capital spending by subtracting the change in Net fixed assets from the depreciation expense. Then find the Change in NWC by subtracting the beginning NWC from the ending NWC. Finally, plug these values into the formula to calculate the cash flow from assets for the Plaza Cafe.
The amount of cash flow from assets is $61,246.
On January 1, 2018, Red Flash Photography had the following balances: Cash, $26,000; Supplies, $9,400; Land, $74,000; Deferred Revenue, $6,400; Common Stock $64,000; and Retained Earnings, $39,000. During 2018, the company had the following transactions:
1. February 15 Issue additional shares of common stock, $34,000.
2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000.
3. August 31 Pay salaries to employees for work in 2018, $37,000.
4. October 1 Purchase rental space for one year, $26,000.
5. November 17 Purchase supplies on account, $36,000.
6. December 30 Pay dividends, $3,400.
The following information is available on December 31, 2018:
1. Employees are owed an additional $5,400 in salaries.
2. Three months of the rental space has expired.
3. Supplies of $6,400 remain on hand.
4. All of the services associated with the beginning deferred revenue have been performed.
Answer:
Revised Balance Sheet on 31st December 2018
Cash, $26,000; +34,000+49,000 -37,000-26,000 -29,000 -3400 42600 42,600
Account Receivable...44,000 44000
Supplies, $9,400; +6,400 15800
Land, $74,000; 74000
Prepaid Rent....19,500 19500
Total........................................... 195,900.00
Common Stock $64,000; and +34,000 98000
Retained Earnings, $39,000. -37,000+49,000+44,000-6,500-3400-5400+6400-29,600 56500
Accrued Wages 5400 5400
Accounts Payable 36,000 36000
Total........................................... 195,900.00
Explanation:
On January 1, 2018, Red Flash Photography had the following balances:
Cash,............... $26,000;
Supplies,........... $9,400;
Land, ........ $74,000;
Total..................109, 400
Deferred Revenue, $6,400;
Common Stock..... $64,000;
Retained Earnings, $39,000.
Total.......................109,400
On 31st December 2018
Revised Balance Sheet on 31st December 2018
Cash, $26,000; +34,000+49,000 -37,000-26,000 -29,000 -3400 42600 42,600
Account Receivable...44,000 44000
Supplies, $9,400; +6,400 15800
Land, $74,000; 74000
Prepaid Rent....19,500 19500
Total........................................... 195,900.00
Common Stock $64,000; and +34,000 98000
Retained Earnings, $39,000. -37,000+49,000+44,000-6,500-3400-5400+6400-29,600 56500
Accrued Wages 5400 5400
Accounts Payable 36,000 36000
Total........................................... 195,900.00
1. February 15 Issue additional shares of common stock, $34,000.
ADD 34,000 TO EQUITY, AND TO CASH
2. May 20 Provide services to customers for cash, $49,000, and on account, $44,000.
LESS 49,000 FROM CASH AND ADD TO RETAINED EARNINGS AS INCOME, ADD 44,000 AS ACCOUNT RECEIVABLES AND ADD TO INCOME IN RETAINED EARNINGS
3. August 31 Pay salaries to employees for work in 2018, $37,000.
LESS 37,000 FROM CASH AND FROM RETAINED EARNINGS
4. October 1 Purchase rental space for one year, $26,000.
LESS FROM CASH AND FROM RETAINED EARNINGS
5. November 17 Purchase supplies on account, $36,000.
ADD TO STOCK, ADD TO ACCOUNTS PAYABLES
6. December 30 Pay dividends, $3,400.
LESS FROM CASH AND FROM RETAINED EARNINGS
The following information is available on December 31, 2018:
1. Employees are owed an additional $5,400 in salaries.
ADD TO ACCRUED SALARIES,LESS FROM RETAINED EARNINGS AS EXPENSES INCURRED IN THE PERIOD
2. Three months of the rental space has expired.
CREATE PREPAID RENT FOR 3/4 OF RENT (19,500) AND LESS 6500 FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD
3. Supplies of $6,400 remain on hand.
LESS 19600 (26,000-6400) FROM SUPPLIES AND FROM RETAINED EARNINGS AS EXPENSE FOR THE PERIOD
4. All of the services associated with the beginning deferred revenue have been performed.
DELETE DEFFERED REVENUE OF 6,400 AND ADD SAME AMOUNT TO RETAINED EARNINGS AS INCOME EARNED
Final answer:
The question focuses on the processing and analyzing of financial transactions for Red Flash Photography throughout the year, examining the impact on various financial statements and requires a basic understanding of accounting principles, such as revenue recognition, asset management, and expense recording.
Explanation:
The question provided relates to basic accounting principles and practices. It involves the analysis of a company's transactions over a fiscal year and requires understanding of fundamental accounting concepts such as assets, liabilities, equity, revenue recognition, and expenses. The goal is to assess the impact of the company's transactions on its financial position, reflecting the changes in various accounts through journal entries, adjusting entries or preparation of financial statements such as balance sheet, income statement or statement of cash flows.
During the year, Red Flash Photography engaged in various transactions, including issuing additional common stock which increased equity, providing services to customers which raised both cash and accounts receivable under revenues, incurring expenses like salaries and rent for operational space, and managing supply inventory. Activities like paying dividends affected the retained earnings.
At year-end adjustments, certain items require correction such as outstanding salaries payable, recognizing the portion of prepaid rent that has been used, adjusting the remaining supply inventory, and recognizing revenues from previously deferred amounts. These adjustments ensure the financial statements present a true and fair view of the company's financial situation.
Alexandra has determined that studying an hour for her economics quiz will improve her grade on the quiz from 75 to 100. She also determines that this improvement is worth $20. To study for an hour for her economics quiz, however, she will have to work one fewer hour at her part-time job. Alexandra should:_________
Answer:
study when the hourly rate is below or equal to $20
Explanation:
Cosidering the economic principles of opportnity cost Alexandra will only study that extra time if the loss wages are less or equal to $20 dollars
as a higher hourly rate will make the $20 dollar she consider the change in grade worth it to leave a net loss after considering the implicit cost of the test
Which of the following accounts invests your money in the stock market?
Savings account
Interest-bearing checking account
Money market deposit account
Basic checking account
Answer:
The answer is Money market deposit account.
Explanation:
Money market deposit account's money is mainly invested in the short term money market instruments such as government treasury bills, short term company bonds and even futures.
Activity-based costing (ABC) systems ________. A. Unselected have the same cost allocation system as plantwide and departmental cost allocation systems B. Unselected have no cost allocation rates for each activity identified by the company C. Unselected have combined cost allocation rates for each activity identified by the company D. Unselected have separate cost allocation rates for each activity identified by the company
Answer:
D. have separate cost allocation rates for each activity identified by the company CORRECT
There will be activity cost pool which, will be distribute among the product using different cost driver like machien hours, direct labor hours or other.
Explanation:
A. have the same cost allocation system as plantwide and departmental cost allocation systems
NO If it was, then it would not have a different name
B. have no cost allocation rates for each activity identified by the company
If we don't have rates to distrubte cost then, the allocation will be arbitrary
C. have combined cost allocation rates for each activity identified by the company
each should have different base cost driver if not, then they aren't different and should be combined.
Activity-based costing (ABC) systems have separate cost allocation rates for each activity identified by the company. This enables more accurate assignment of indirect costs.
Explanation:Activity-based costing (ABC) systems D. have separate cost allocation rates for each activity identified by the company. Unlike plantwide and departmental cost allocation systems, ABC systems segregate the company's indirect costs into separate activities, referred to as cost pools, and assign a unique cost rate to each.
For instance, a company may have different activities such as manufacturing, marketing, quality control, etc., and each activity would have its own cost allocation rate.
This method allows companies to more accurately assign indirect costs to products or services.
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