Answer:
I think the most applicable answers are,
*The possession of expertise, knowledge and skills that the competitors do not possess
*Having the access to unique resources and legal protections (such as patent rights)
Explanation:
When you have the intellectual and skill.capacity to harness the maximum out of a Resource and that it is a unique one, then the competition have one way to imitate you.
Moreover, once you have the legal protection and/or the exclusive access to a certain resource or to a technology, then the competitors can't imitate you as well.
One characteristic of Internet recruiting is:_________ Select one: a. Screens out job "browsers" b. Produces a wider applicant pool c. More expensive than newspaper advertising d. Delays applicant responses
Answer:
The correct answer is letter "B": Produces a wider applicant pool.
Explanation:
Nowadays most job positions are offered online. It is easier for companies to publish their openings on a web page and wait for applicants to massively submit their resumes. This process serves as a screening of the recruiting process since the most prospective individuals can be selected and all those whose profile does not match with what the company is looking for can be discarded.
Final answer:
Internet recruiting is characterized by its ability to produce a wider applicant pool, making job postings accessible to a global audience and increasing candidate diversity.
Explanation:
One characteristic of Internet recruiting is that it produces a wider applicant pool. Unlike traditional methods such as newspaper advertising, the internet makes it possible for job postings to reach a global audience, thereby increasing the number and diversity of applicants. Additionally, platforms like LinkedIn facilitate networking and make it easier for job seekers to find and apply for jobs, thus broadening the pool of candidates from which employers can select. Online recruiting provides access to extensive job market information, allows for faster communication, and makes it easier for employers to find suitable candidates, potentially reducing the time and costs associated with the hiring process.
John is ready to pay $5 for an extra loaf of bread. Due to an ongoing discount in the store, he gets a loaf for $2. John's consumer surplus from the purchase is ________.
a.$2.50
b.$10
c.$3
d.$2
Answer:
3$
Explanation:
yes
Consumer Surplus is the economic benefit a buyer gets when they pay less for a product than what they were willing to. In this instance, the consumer surplus is $3 as John was willing to pay $5 for the loaf but only paid $2.
Explanation:In economics, the term Consumer Surplus is used to define the economic benefit obtained by consumers when they are able to purchase a product for a lower price than they are willing to pay. In John's case, he was willing to pay $5 for a loaf of bread, but he only paid $2 because of the ongoing discount. Hence, the calculation of Consumer Surplus would be his willingness to pay ($5) minus the actual price paid ($2), which equals to $3. So, John's consumer surplus from this purchase is $3.
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Mary is filing Head of Household with a taxable income of $79,280. What is her income tax for Marks: 1 2018? a. $11,989 b. $13,380 c. $9,320d. $11,978
Answer:
Option (a) $11,989
Explanation:
Data provided in the question:
Taxable income = $79,280
Now,
we should know,
Tax rate Taxable income Tax owed
10% $0 to $13,600 10% of taxable income
12% $13,601 to $51,800 $1,360 plus 12% of the amount over $13,600
22% $51,801 to $82,500 $5,944 plus 22% of the amount over 51,800
Since,
Income of $79,280 lies in the taxable income bracket of $51,801 to $82,500
Therefore,
Income tax for Marks = $5,944 + 22% of ($79,280 - $51,800 )
= $5,944 + ( 0.22 × 27480 )
= $5,944 + $6,045.6
= $11,989.6 ≈ $11,989
Hence,
Option (a) $11,989
Formulating a Statement of Stockholders' Equity from Raw Data Gap, Inc., reports the following selected information at January 30, 2010 ($ millions).Contributed capital, Jan. 30, 2010 $2,990Treasury stock, Jan. 30, 2010 (9,069)Retained earnings, Jan. 30, 2010 10,815Accumulated other comprehensive income, Jan. 30, 2010 155During fiscal year 2011, Gap reported the following:1. Sale of stock $42. Purchase of stock 1,7973. Net income 1,2044. Cash dividends 2525. Other comprehensive income 30Use this information to prepare the statement of stockholders' equity for Gap, Inc., for year ended January 29, 2011.
To prepare the statement of stockholders' equity for Gap, Inc., for the year ended January 29, 2011, calculate the ending balances of contributed capital, treasury stock, retained earnings, and accumulated other comprehensive income by considering the changes in each component during fiscal year 2011.
Explanation:To prepare the statement of stockholders' equity for Gap, Inc., for the year ended January 29, 2011, we need to consider the changes in the different components of stockholders' equity. The statement should include information about contributed capital, treasury stock, retained earnings, and accumulated other comprehensive income.
Based on the provided data, we can calculate the ending balance for each component by considering the changes during the fiscal year 2011. Here is the statement of stockholders' equity for Gap, Inc.:
Contributed capital: January 30, 2010 balance ($2,990 million) + Sale of stock ($42 million) - Purchase of stock ($1,797 million) = Ending balanceTreasury stock: January 30, 2010 balance ($9,069 million) - Purchase of stock ($1,797 million) = Ending balanceRetained earnings: January 30, 2010 balance ($10,815 million) + Net income ($1,204 million) - Cash dividends ($252 million) = Ending balanceAccumulated other comprehensive income: January 30, 2010 balance ($155 million) + Other comprehensive income ($30 million) = Ending balanceThe statement of stockholders' equity should present these ending balances for each component, indicating the total equity at the end of the fiscal year 2011.
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The gross domestic product (GDP) of the United States is defined as the market value of all final goods and services produced within the United States in a given period of time.
Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2018.
a. Chocolate Express, a Swiss chocolate company, produces a chocolate bar at a plant in Illinois on December 9, 2018. An elementary school student buys the chocolate bar on December 24. -------- 2018 GDP (Included/Excluded)
b. Athleticus, a U.S. shoe company, produces a pair of sneakers at a plant in Vietnam on March 27, 2018. Athleticus imports the pair of sneakers into the United States on May 18, 2018. -------- 2018 GDP (Included/Excluded)
c. Treetopplers, a U.S. lumber company, produces wood at a plant in Oregon on September 25, 2018. It sells the wood to Buildit and Partners, a developer, for use in the production of a new house that will be built in the United States in 2018. (Note: Focus exclusively on whether production of the wood increases GDP directly, and ignore the effect of production of the new house on GDP.) -------- 2018 GDP (Included/Excluded)
d. Tasty's, a U.S. fast-food company, produces a hamburger at one of its many St. Louis locations on January 14, 2018. It sells the hamburger to a customer that same day.
-------- 2018 GDP (Included/Excluded)
e. An accountant starts a client's 2018 tax return on April 14, 2019, finishing it just before midnight on April 15, 2019. -------- 2018 GDP (Included/Excluded)
Answer:
a= Included
b= Excluded
c= Included
d= Included
e= Excluded
Explanation:
a= The product (Chocolate was produced and sold in same year i-e, 2018)
b= Goods produced by companies having manufacturing plants in foreign countries doesn't count in the company's home country's GDP. Refer to the definition which says clearly that production of final goods within a country.
c= Yes, as they are produced and if the house was also sold in the same year than only the house would have been counted in the GDP. Because we can't count same thing twice.
d= As the final product was produced and sold in same year, it would be counted.
e= No GDP as definition implies includes only final goods, tax returns doesn't count in GDP.
Requirement 1. Match each function with its representative cost driver. Function Representative Cost Driver 1. Accounts payable ▼ 2. Recruiting 3. Network maintenance 4. Production 5. Purchasing 6. Warehousing 7. Billing
Answer:
production
Explanation:
the production is the highest of all the more afterall
If a taxpayer is filing H/H and qualifies for the Retirement Savings Contribution Credit, what percent of the contribution would qualify if the AGI is $29,000?
Answer:
10%
Explanation:
Adjusted gross income (AGI) is the amount arrived at after some specific allowable deductions have been deducted from the total gross income.
The Retirement Savings Contributions Credit now called the Savers Credit provides a special tax break to those who are saving for retirement and in the low-income and moderate-income taxpayers category.
The amount to deduct depends on the AGI and how regularly the individual files tax returns. The rate of tax credit which is not refundable is 10%, 20% or 50% of the first $2,000 the parson contributed to a retirement account during the year.
The table for 2019 AGI shows that a single filler with the income range of $20,751-$32,000 can have a 10% savers credit.
Since the tax payer is a single filler, he is therefore qualified for 10% of his AGI of $29,000 which $2,900.
A semi-annual coupon U.S. Treasury bond was purchased for settlement on November 12, 2017. The last coupon was paid on September 15, 2017. Using the ACT/ACT day count convention, answer the following questions: a. on what date will the next coupon be paid? b. how many days passed between the last coupon paid and the settlement date? c. how many days are there in the current coupon period?
Answer:
a) 15 March 2018
b) 58 days passed between the last coupon paid and the settlement date
c) There are 123 days in the current coupon period.
Explanation:
a) So, next coupon will be paid on 15 March 2018.
(b) Coupon was paid on 15th September 2017 and settleent date is November 12, 2017, hence using the ACT/ACT day count convention, the number of days passed between the last coupon paid and the settlement date is (15 days of September + 31 Days of October + 12 days of November) = 58 days.
(c) The next coupon date is 15th March 2018. Hence, the number of days in current coupon period is (18 days of November + 31 days of December + 31 days of January + 28 days of February + 15 days of March ) = 123 days
The answers to the questions are as follows:
a. The next coupon will be paid on March 15, 2018.
b. There were 58 days between the last coupon paid (September 15, 2017) and the settlement date (November 12, 2017).
c. There are 184 days in the current coupon period.
a. U.S. Treasury bonds pay coupons semi-annually, which means every six months. Since the last coupon was paid on September 15, 2017, adding six months to this date brings us to the next coupon payment date. September has 30 days, so adding six months to September 15 would be 30 days for September, plus 31 days each for October, November, December, January, and February, plus 15 days for March, totaling 184 days. However, since February has only 28 days in a non-leap year, we subtract one day, resulting in 183 days. Therefore, the next coupon payment date is March 15, 2018.
b. To calculate the number of days between the last coupon payment and the settlement date, we use the ACT/ACT day count convention, which counts the actual number of days in each month. Starting from September 15, 2017, to November 12, 2017, we have:
- The rest of September: 15 days (since September has 30 days)
- October: 31 days
- November: 12 days (up to the 12th)
Adding these up gives us a total of 15 + 31 + 12 = 58 days.
c. The current coupon period started right after the last coupon payment on September 15, 2017, and will end on the next coupon payment date, which we determined to be March 15, 2018. Using the ACT/ACT day count convention, we count the actual number of days in each month:
- September: 15 days (from the 15th to the end of the month)
- October: 31 days
- November: 30 days
- December: 31 days
- January: 31 days
- February: 28 days (in a non-leap year)
- March: 15 days (up to the 15th)
Adding these up gives us a total of 15 + 31 + 30 + 31 + 31 + 28 + 15 = 181 days. However, since we are including both the start and end dates in our count, we add one more day, resulting in 182 days. But since we subtracted one day in the calculation of the next coupon payment date due to February not being a leap year, the total number of days in the current coupon period is 184 days."
Howard is saving for a holiday. He deposits a fixed amount every month in a bank account with an EAR of 14.7%. If this account pays interest every month then how much should he save from each monthly paycheck in order to have $14,000 in the account in four years' time?
A) $176
B) $308
C) $220
D) $352
Answer:
C) $220
Explanation:
First calculate the APR using an EAR of 14.7% and monthly compounding,
which comes to 13.7937 %. Then using a periodic rate of 13.7937 /12, calculate
the payment over 48 months that gives a future value (FV) of $14,000 , which is
$110.15.
You bought 1,000 shares of Tund Corp. stock for $68.12 per share and sold it for $90.03 per share after a few years. How will your gain or loss be treated when you file your taxes?
As a capital gain taxed at the long-term tax rate
As a capital gain taxed at the current ordinary-income tax rate
Answer:
The gain will be treated as a capital gain taxed at the long-term tax rate.
Explanation:
Capital gain tax is paid on profit derived from selling an investment asset, like stock or bond. Under the tax law, capital gain can be taxed either at a long-term tax rate or current ordinary-income tax rate.
For a capital gain to be taxed at the long-term tax rate, the investment must have been held for more than one year and above. The tax rate under the long term range from 0% to 20%.
For the a capital gain to be taxed at the current ordinary-income tax rate, the investment must be held less than one year. When this occur,the capital gain is taxed at the ordinary income tax rate because the gain is assumed to be part of the taxable income for the year.
In the case of Tund Corp, the capital gain will be taxed at long term tax rate of 0% to 20% because the investment is held more than a year.
You are planning your retirement and you come to the conclusion that you need to have saved $1000000million in 30 years. You can invest into an retirement account that guarantees you a 12% annual return. How much do you have to put into your account at the end of each year to reach your retirement goal?
Answer:
Annual deposit= $4,143.66
Explanation:
Giving the following information:
You need to have saved $1,000,000 in 30 years. You can invest in a retirement account that guarantees you a 12% annual return.
To calculate the annual deposit needed to achieve the objective, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,000,000*0.12)/ [(1.12^30)-1]= $4,143.66
A landlord is renting out an apartment and has three prospective tenants. The first tenant is willing to pay $1200/month, the second tenant is willing to pay $3000/month, and the third tenant is willing to pay $2000/month. Each potential tenant knows the valuations of the other tenants. Of the following methods of renting the apartment, which would generate the greatest revenue?
a. A sealed first-price auction
b. A sealed second-price (Vickrey) auction
c. A fixed price of $1900/month
d. A fixed price of $2200/month
Answer:
d. A fixed price of $2200/month.
Explanation:
A landlord is an owner of the house or property which is rented to a person called Tenant on lease or rent. The landlord in the question is renting an apartment. He has 3 Potential Tenants who are willing to rent his property. The greatest revenue will be generated if the apartment is rent out to the second tenant who is willing to pay $3000 per month. The revenue of the landlord will maximize if he uses option D to rent out his apartment. A fixed price of $2200 will generate greatest revenue.
The method that would generate the greatest revenue for the landlord is a sealed first-price auction, which could yield a revenue slightly below $3000/month.
The question asks which method of renting an apartment would generate the greatest revenue for a landlord with three prospective tenants with different valuations. The options are: a sealed first-price auction, a sealed second-price (Vickrey) auction, a fixed price of $1900/month, and a fixed price of $2200/month.
In a sealed first-price auction, each tenant would bid according to their valuation, and the highest bidder would win at the price they bid. Here, the second tenant would likely win by bidding slightly above $2000 (the next highest valuation), generating a revenue close to $3000/month for the landlord.
In a sealed second-price (Vickrey) auction, the highest bidder wins but pays the second-highest bid. Since the tenants know each other's valuations, the second tenant might bid their true valuation, $3000, and win at the third tenant's bid of $2000/month.
A fixed price of $1900/month would result in the second tenant renting the apartment, generating less revenue than the potential $2000 in the Vickrey auction. A fixed price of $2200/month would be above two tenant's valuations, and likely result in no transaction as none would be willing to rent at that price.
Arthur crafts miniature chocolate dollhouses which he sells for $23 each. Arthur has calculated the breakeven level of revenues for his business at $1,460 of sales. The dollhouses have a variable cost of $8 to produce per unit.What are Arthur's fixed costs?
Answer:
Arthur's fixed costs are $952
Explanation:
The break-even point is the level of production at which the costs of production equal the revenues for a product and calculated by using following formula:
Break-even point in units = Fixed costs/(Selling price per unit-Variable cost per unit)
Fixed costs = Break-even point in units x (Selling price per unit-Variable cost per unit)
In Arthur, Break-even point in units = $1,460/$23
Fixed costs = $1,460/$23 x ($23 - $8) = $952
The fixed cost for Arthur's crafts miniature chocolate dollhouses is $952.
What is the break-even point?The break-even point is regarded as the level at which production costs tend to be equal to the revenues for the product.
What is the computation of the break-even point?[tex]BE=\frac{FC}{SP-VC}[/tex]
Now, the fixed cost would be calculated as:
[tex]BE*(SP-VC)[/tex]
Therefore, the fixed cost would be:
[tex]\frac{1460}{23} * (23-8)\\=952[/tex]
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Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were $1,932,000 on March 1, $1,212,000 on June 1, and $3,081,610 on December 31. Compute Concord’s weighted-average accumulated expenditures for interest capitalization purposes.
Answer:
$2,317,000
Explanation:
The computation of the weighted-average accumulated expenditures for interest capitalization purposes is shown below:
For expenditure on March 1
= $1,932,000 × 10 months ÷ 12 months
= $1,610,000
On June 1
= $1,212,000 × 7 months ÷ 12 months
= $707,000
On December 31, it would be zero
So, the accumulated expenditures is
= $1,610,000 + $707,000
= $2,317,000
Final answer:
The weighted-average accumulated expenditures for interest capitalization purposes for Concord Company is calculated by multiplying each expenditure by the number of months it was outstanding and summing them up. The total comes to $30,885,610.
Explanation:
The student is asking for the computation of Concord Company's weighted-average accumulated expenditures for interest capitalization purposes over the construction period of a building. To calculate this, we will consider the dates and amounts of expenditures made during the construction period.
Calculation of Weighted-Average Accumulated Expenditures:
Determine the amount of time each expenditure was outstanding during the construction period.
Multiply each expenditure by the number of months it was outstanding to calculate the weighted expenditure.
Add the weighted expenditures to determine the total weighted-average accumulated expenditures.
Expenditures were as follows:
$1,932,000 on March 1 (10 months outstanding)
$1,212,000 on June 1 (7 months outstanding)
$3,081,610 on December 31 (1 month outstanding)
The weighted expenditures will be:
$1,932,000 x 10 = $19,320,000
$1,212,000 x 7 = $8,484,000
$3,081,610 x 1 = $3,081,610
The total weighted-average accumulated expenditures for interest capitalization purposes is the sum of the individual weighted expenditures, which equals $19,320,000 + $8,484,000 + $3,081,610 = $30,885,610.
Comly Communications issues a $600,000, 10%, 20-year mortgage note on January 1. The terms provide for annual installment payments of $69,932, exclusive of real estate taxes and insurance. After the first installment payment, the principal balance is:________
a. 530,068.
b. $600,000.
c. $590,068.
d. $565,034
Answer:
The correct answer is C
Explanation:
The amount would be:
Amount = Issued Amount × Interest rate
= $600,000 × 10%
= $60,000
So, the interest would be $60,000, this amount to be paid on year end.
But the installment payment is of $69,932
Balance amount = $69,932 - $60,000
= $9,932
The first installment is of amount $60,000. So, the principal balance would be:
Principal balance = Amount - Balance amount
= $600,000 - $9,932
= $590,068
An international student goes to work for a Brazilian MNE in Brazil where he has been studying. He is a Answers: A. parent-country national (PCN) B. host-country national (HCN) C. third-country national (TCN) D. not enough information
Answer:
c. third-country national (TCN)
Explanation:
Third-country national (TCN) -
It refers to the migration process , where the person migrates to any foreign country , and tries to apply for visa of the particular company , somewhere he or she has not originated , is referred to as the third - country national (TCN) .
Hence , from the scenario of the question,
An international students goes to study and work in Brazil , which is not his native country , is referred to as the third - country national ( TCN ) .
Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 39,000 units next year and Product L is expected to sell 8,000 units. A unit of either product requires 0.81 direct labor-hours.
The company's total manufacturing overhead for the year is expected to be $1,800,000
Required:
1-a.
The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this method is followed, how much overhead cost per unit would be applied to each product? (Do not round intermediate calculations.Round your answers to 2 decimal places.)
Answer:
Each product will be allocated with 38.30 dollars of manufacturing overhead as both takes 0.81 DLH
Explanation:
[tex]\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate[/tex]
To calcualte the overhead rate we need to distribute the expected cost over the expected cost driver, in this case, labor hours:
(39,000 + 8,000) x 0.81 DLH = 38,070 labor hous
$1,800,000 overhead / 38,070 DLH = 47,281323877
the overhead per hour is $47.28
overhead per product:
47,281323877 x 0.81 = 38,29787234 = 38.30
Knowledge Check 01 Future Corporation has a single product; the product selling price is $100 and variable costs are $60. The company's fixed expenses are $10,000. What is the company's break-even point in sales dollars? A. $25,000 B. $2,500 C. $250 D. $16,667
Answer:
The company's break-even point in sales dollars is A. $25,000
Explanation:
The break-even point is the level of production at which the costs of production equal the revenues for a product and calculated by using following formula:
Break-even point in units = Fixed expense/(Selling price per unit-Variable expense per unit) = $10,000/($100-$60) = $10,000/$40 = 250 units
Break-even point in sales dollars = Break-even point in units x Selling price per unit = 250 x $100 = $25,000
Answer:
A. $25,000
Explanation:
Break even point is the level of production at which the costs incurred in production equal the revenues for a product and calculated by using following formula;
Break-Even Point (sales dollars) = Fixed Costs ÷ Contribution Margin ratio
where,
Contribution Margin ratio = (selling Price – Variable Costs)/selling price
Given;
Selling price per unit = $100
variable cost per unit = $60
Fixed cost = $10,000
Contribution margin ratio = ($100 - $60)/$100
= 0.4
Break-Even Point (sales dollars) = $10,000/0.4
= $25,000
A company issues $500,000 of 6%, 10-year bonds dated January 1, 2017 that mature on December 31, 2026. The bonds pay interest semiannually on June 30 and December 31 each year. If bonds are sold at par value, the issuer records:________
Answer:
cash 500,000 debit
bonds payable 500,000 credit
Explanation:
as the bond are sold at par the present value of the coupon payment and maturity discounted will give the same value as the face value of the bond:
Proof:
[tex]C \times \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C 15,000.000
time 20
rate 0.03
[tex]15000 \times \frac{1-(1+0.03)^{-20} }{0.03} = PV\\[/tex]
PV $223,162.1229
[tex]\frac{Maturity}{(1 + rate)^{time} } = PV[/tex]
Maturity 500,000.00
time 20.00
rate 0.03
[tex]\frac{500000}{(1 + 0.03)^{20} } = PV[/tex]
PV 276,837.88
PV c $223,162.1229
PV m $276,837.8771
Total $500,000.0000
Calculate (a) MAD and (b) MSE for the following forecast versus actual sales figures: a. Forecast 100 110 120 130 b. Actual 95 108 123 130 a) MADequals nothing (round your response to one decimal place).
Answer:
MAD = 2.5
MSE = 9.5
Explanation:
MAD and MSE are 2 of the 3 the approaches to calculate forecasting errors.
MAD formula and solution is provided in the picture attached, with table 1 mentioned on it.Step by Step Calculation of MAD:
Calculate the Forecast Error by subtracting Forecast from Actual Sales.Sum all the forecast errors.Divide the sum with the number (n) of periods. MSE formula and solution is provided in the picture attached, with table 2 mentioned on it.Step by Step calculation of MSE:
Calculate the Forecast Error by subtracting Forecast from Actual Sales.Square all forecast errors and sum those squared values.Divide the sum with the number (n) of periods.When a transaction requires only a _____, there is not any actual proof that a particular person conducted that transaction. Group of answer choices
А. written signature
B. digital signature
C. password
D. driver's license
E. fingerprint scan
Answer:
C. password
Explanation:
A transaction is a business activity that involves buyers and sellers. the se two parties agree to exchange goods and services for money. Everyone needs to be on the same page when this happens ; meaning, the sellers should be willing to give out their goods and services and the buyers should be willing to to pay for the what they are interested in. A complete transaction also requires a receipt which is a proof of the exchange . Therefore, having a password is not the only requirement for a transaction.
Which statement concerning cash is true? a.Cash is increased by debiting. b.Cash will always have more debits than credits. c.Cash will never have a credit balance. d.All of these choices are correct.
Answer:
The answer is A. Cash is increased by debiting
Explanation:
Like all assets, to debit means to increase while to credit means to decrease.
There is no rule that states cash must always have more credits than debit or more debits than credits. Cash account can have more credits than debited and the balance will still be positive and vice-versa.
Cash account can have a credit balance. If this happens that means the business is owing or in debt.
The correct statement concerning cash is that it is increased by debiting. The balance of the cash account, whether it is a debit or credit balance, depends on the specifics of the transactions.
Explanation:Out of the options provided concerning cash, the accurate statement is: Cash is increased by debiting.
In the double-entry bookkeeping system, a debit entry increases an asset account, and cash is considered an asset. Thus, to increase your cash account, you would debit it.
However, the statements 'Cash will always have more debits than credits' and 'Cash will never have a credit balance' are not universally true. The balance of the cash account depends on the transactions. If there are more debits (increases) to the account than credits (decreases), then it will have a debit balance. If there are more credits than debits, it could potentially have a credit balance.
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Identify each of the following as Asset, Liability, or Equity.
a. Accounts Payable Liability
b. Cash Asset
c. Common Stock Equity
d. Accounts Receivable Asset
e. Rent Expense Liability
f. Service Revenue Equity
g. Office Supplies Asset
h. Dividends Equity
i. Land Equity
j. Salaries Expense Liability
Answer:
a. Accounts Payable Liability
b. Cash Asset
c. Common Stock Equity
d. Accounts Receivable Asset
e. Rent Expense Equity
f. Service Revenue Equity
g. Office Supplies Asset
h. Dividends Equity
i. Land Assets
j. Salaries Expense Equity
Explanation:
Assets:
The assets will be the property, plant and equipemnt owned by the company or the right or claim it has on third party to provide cash in favor of the company (accounts receivables) or services ( prepaid insurance)
Liabilities:
Will be debt or obligation to do taken from the company in exchange of soemthing
Equity:
The equity will represent the investment of the owner plus the accumualted earning thus, the revenus and income have impact on equity.
Assets like Cash and Accounts Receivable, liabilities such as Accounts Payable, and equity items including Common Stock and Dividends are identified to understand a business's financial position. Proper classification helps distinguish between resources, obligations, and owner claims. Rent and salaries expenses are not directly liabilities but affect equity.
Identifying whether an item is an Asset, Liability, or Equity is crucial for understanding the financial position of a business. Here's the classification:
Accounts Payable - LiabilityCash - AssetCommon Stock - EquityAccounts Receivable - AssetRent Expense - Expense (generally not counted as a Liability directly but impacts Equity)Service Revenue - EquityOffice Supplies - AssetDividends - EquityLand - AssetSalaries Expense - Expense (generally not counted as a Liability directly but impacts Equity)Key Definitions:
Assets are resources owned by the business that provide future economic benefits, such as Cash, Accounts Receivable, and Land.Liabilities are obligations that the business needs to settle in the future, such as Accounts Payable.Equity represents the owner's claims on the assets after all liabilities have been deducted, such as Common Stock and Dividends.A marketing manager targeting Generation Y should be aware that this group is turned off by:A) the "soft sell".B) overt branding practices.C) cool events.D) online buzz.E) unconventional sports.
Answer:
B) overt branding practices
Explanation:
Generation Y is the group of people who were born between 1990s to early 2000s. Probably most commonly known as millennials.
Statistics shown that when it come to choosing a product, millennial tend to choose the individuals that they can trust/admire rather than overt branding practices. This is why online influencers market is really booming among this demographic.
On top of that ., They value the type of advertisement that can objectively define the negative and positive characteristics of a certain product rather than advertising it as if it's 'the best product ever' like commonly done by most companies in the past.
Misk Co. purchased the following securities during 2018 to be classified as held-to-maturity securities, trading securities, or available-for-sale securities: I. Debt securities bought and held for the purposes of reselling in the near future. II. U.S. Treasury bonds that Misk intends and is able to hold to maturity. III. An investment in stock that Misk does not intend to sell in the near future. Which of above securities purchased by Misk should be classified as available-for-sale securities?a. I and II onlyb. I and III onlyc. III onlyd. None of the above
Answer:
C. III only
Explanation:
Option III states An investment in stock that Misk does not intend to sell in the near future. Which of above securities purchased by Misk should be classified as available-for-sale securities?
The choice of this option alone is based on the reasoning that Available for Sale (AFS) Securities are usually presented based on their fair values. As such an increase in investment will be needed when the Fair value exceeds is more than the cost of the securities.
The other effect of the transaction of Misk Co is that it will lead to an increase in other comprehensive income.
Securities purchased by Misk Co. are classified based on their intent and ability to sell. Debt securities held for quick turnover are trading securities, Treasury bonds held until maturity are held-to-maturity securities, while a stock investment planned for long-term holding but not until maturity is classified as available-for-sale securities. Hence, 'III. An investment in a stock that Misk does not intend to sell in the near future is classified as available-for-sale securities.
Explanation:The securities purchased by Misk Co. can be classified into held-to-maturity securities, trading securities, and available-for-sale securities based on their intent and ability to sell.
I. Debt securities bought and held for the purposes of reselling in the near future. These are classified as trading securities because they are bought with the intention of reselling them in the near future to earn profit from price changes.
II. U.S. Treasury bonds that Misk intends and is able to hold to maturity. These are deemed as held-to-maturity securities because the investor intends to and is capable of holding these until their maturity date.
III. An investment in a stock that Misk does not intend to sell in the near future. These are termed available-for-sale securities because they are neither intended to be sold in the near term (like trading securities) nor held until maturity (as with held-to-maturity securities). They can be sold if necessary, but that is not the primary intention.
Therefore, based on the above classification, the answer to the question, 'Which of the above securities purchased by Misk should be classified as available-for-sale securities?' is (c.) III only.
Learn more about Classifying Securities here:https://brainly.com/question/36447277
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The existence of ending Work In Process Inventory necessitates the use of the 5minusstep process costing procedure. true or false
Answer:
The statement is: True.
Explanation:
The Work In Progress (WIP) Inventory represents the sources needed during the production of a good. While calculating costs for those sources it is necessary to follow the 5-steps of process costing which are the following:
1) Determine the flow of units generated.
2) Adjust the inventory to calculate the equivalent units.
3) Identify the total cost.
4) Calculate the average cost per equivalent unit.
5) Record these costs to finished units and Work in Process units.
Bob: Listen, donuts are made to bring joy into our lives and to wake up our glated faculties. Just let them be distributed according to unchanging moral principles of justice. The donuts will distribute themselves according to natural principles. We just take what we want and the leftovers will be appreciated by those who enjoy them most. Don't over complicate this. Where's the chocolate milk? A) Natural law school of thought. B) Historical perspective school of thought C) Irrational forces perspective. D) Critical legal studies school of thought
Answer:
Option D
Explanation:
This type of school of thought is usually inter twinned with social issues which makes the law have social biased because it is always supporting the interest of those who create it.
Final answer:
Bob's statement aligns with the Natural law school of thought (A), where goods and services, like donuts, are believed to distribute themselves according to inherent moral principles without the need for governmental interference, reflecting Natural Law Theory.
Explanation:
Bob's statement reflects the Natural law school of thought (A), which posits that justice is a part of natural order and goods will equitably distribute themselves according to natural principles. His view suggests that distributive justice should occur with minimal governance, aligning with Natural Law Theory. Natural Law Theory emphasizes that moral principles are inherent in the behaviors corresponding with human nature and reasoning.
Principles of distributive justice play a critical role in shaping ideologies concerning what basic needs are, how resources should be allocated, and the level of governmental interference in these processes. The natural law perspective holds that there should be as little governmental interference as possible in the distribution of goods, relying on the principle of individuals acting in accordance with inherent moralities. Moreover, the idea of self-regulation without any external imposition aligns with this philosophical stance.
Bob's casual mention of donuts distributing themselves according to who enjoys them most invokes the intuition that all things, including resources and goods, should find their place in society naturally. This reflects the broad principle of Natural Law Theory, where the distribution of goods is seen as a reflection of natural justice, rather than a system built on social or governmental constructs.
Consider the recorded transactions below.
Debit Credit
1. Accounts Receivable 8,500
Service Revenue 8,500
2. Supplies 1,750
Accounts Payable 1,750
3. Cash 9,100
Accounts Receivable 9,100
4. Advertising Expense 1,100
Cash 1,100
5. Accounts Payable 2,600
Cash 2,600
6. Cash 1,200
Deferred Revenue 1,200
Post each transaction to T-accounts and compute the ending balance of each account. The beginning balance of each account before the transactions is: Cash, $2,100; Accounts Receivable, $2,900; Supplies, $270; Accounts Payable, $2,200; Deferred Revenue, $170. Service Revenue and Advertising Expense each have a beginning balance of zero.
Final answer:
A T-account is a visual representation of a balance sheet. For a bank, assets are placed on the left side, and liabilities and net worth are placed on the right side. The net worth of the bank is the total assets minus total liabilities.
Explanation:
A T-account is a visual representation of a balance sheet that helps track the changes in specific accounts related to a transaction. For a bank, assets are placed on the left side of the T-account, and liabilities and net worth are placed on the right side. The bank's assets include reserves, government bonds, and loans, while its liabilities include deposits made by customers. The net worth of the bank is calculated by subtracting total liabilities from total assets. In this case, the bank's T-account balance sheet would show:
Bank's Assets
Reserves: $50Government Bonds: $70Loans: $500Bank's Liabilities
Deposits: $400Bank's Net Worth
Net Worth: $220The cash price of this machine was $54,500. Related expenditures included: sales tax $2,050, shipping costs $100, insurance during shipping $110, installation and testing costs $80, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Whispering Winds estimates that the useful life of the machine is 5 years with a $4,100 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used.
Answer:
Under striaght line the depreciation wil be of 10,548 dollar per year.
Explanation:
the accouting will enter the asset as the sum of all necessary cost to aquire it and leave it ready for use:
price 54,500
taxes 2,050
shipping 100
insurance 110
installation 80
total 56,840
depreciation per year:
(cost - salvage value ) / useful life
(56,840 - 4,100) / 5 = 10.548
Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is a(n) _____ product.
A. specialty
B. generic
C. industrial
D. convenience
E. shopping
Robert and Maxine Thomason are planning to purchase a new refrigerator-freezer for their new home. They have compared the quality, style, and price of four models. For the Thomasons, a refrigerator-freezer is a(n) Shopping product (E)
Explanation:
A shopping product is a product which involves a lot of research and comparison with the similar products of other brand.
A shopping product can be categorized into
Homogeneous ProductHeterogeneous ProductHomogeneous Product are the products that share similar features,nature and the final purchase decision is based on the lowest price available in the market for that particular product
Final answer:
The refrigerator-freezer that the Thomasons are planning to purchase is regarded as a shopping product, which consumers compare thoroughly before buying.
Explanation:
For Robert and Maxine Thomason, the refrigerator-freezer they are planning to purchase for their new home is considered a shopping product. Shopping products are those for which consumers spend considerable time comparing different options, such as quality, style, and price, before making a purchase. Unlike convenience products, which are bought frequently and with minimal effort, or specialty products that have unique brand identification for which a significant group of buyers is willing to make a special purchase effort, shopping products lie somewhere in between in terms of buyer effort and product distinctiveness.