Answer:
The associative property of addition states that you can group the addends in different ways without changing the outcome. The commutative property of addition states that you can reorder the addends without changing the outcome.
Explanation:
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.
Year 1:
Sold $1,346,200 of merchandise (that had cost $976,400) on credit, terms n/30.
Wrote off $20,700 of uncollectible accounts receivable.Received $670,500 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Year 2:
Sold $1,599,900 of merchandise (that had cost $1,304,800) on credit, terms n/30.
Wrote off $28,300 of uncollectible accounts receivable.
Received $1,219,300 cash in payment of accounts receivable.
In adjusting the accounts on December 31, the company estimated that 2.00% of accounts receivable would be uncollectible.
Required:
Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense.
Answer:
General Journal
Debit
Credit
a(1)
Accounts receivable
$1,349,100
Sales
$1,349,100
a(2)
Cost of goods sold
$977,100
Merchandise inventory
$977,100
b
Allowance for doubtful accounts
$18,100
Accounts Receivable
$18,100
c
Cash
$669,200
Accounts Receivable
$669,200
d
Bad Debt
Expense
[Refer working note 1]
$35,307
Allowance for doubtful accounts
$35,307
e(1)
Accounts receivable
$1,514,600
Sales
$1,514,600
e(2)
Cost of goods sold
$1,299,000
Merchandise inventory
$1,299,000
f
Allowance for doubtful accounts
$26,700
Accounts Receivable
$26,700
g
Cash
$1,110,700
Accounts Receivable
$1,110,700
h
Bad Debt
Expense
[Refer working note 2]
$36,507
Allowance for doubtful accounts
$36,507
.
.
Working note 1 - Computation of bad debt expense for the
year 1
Accounts receivables beginning balance
$0
Add: Credit sales
$1,349,100
Less: Collections
($669,200)
Less: Write-off's
($18,100)
Accounts receivables ending
balance
(a)
If G&M Foods issues a $1,000 bond with an interest rate of 3.5 percent and a maturity date of January 1, 2025, G&M is agreeing to pay the bondholder __________ interest each year until January 1, 2025, when it must repay the full $1,000.
Based on the face value of the bonds payable of $1,000 and an interest rate of 3.5%, G&M agrees to pay the bondholder the sum of $35 as interest annually until January 1, 2025, when G&M redeems the full $1,000 bond.
Data and Calculations:
Face value of bonds payable = $1,000
Interest rate = 3.5%
Maturity date = January 1, 2025
G&M's annual interest expense = $35 ($1,000 x 3.5%)
Thus, by issuing the bond of $1,000 at 3.5% per year, G&M agrees to pay $35 in interest expense.
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If you were a cosmetologist working in a spa and were 15 minutes late for your first appointment, how would that impact those you work with and the clients of the spa?
Considering the situation described above, the impact a 15 minutes lateness would cause those I work with and the spa's clients are "negative."
Who is a cosmetologist?A cosmetologist is a professional or permitted to deliver cosmetic treatments to the hair, skin, and nails.
Should a cosmetologist be late on his first appointment, such a person would delay the work of others he works with and delay the clients to get their work done on time.
Also, such lateness might change the mind of clients and those he works with towards him as unprofessional.
Hence, in this case, it is concluded that the impact would be negative.
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Question 6 of 40
What kind of account requires you to leave your money in it for a specific amount of time?
A. Checking account
B. Stock market account
C. Savings account
D. Money market account
Answer:
money market account
Explanation:
What do dymanic link libary files do
A dynamic link library is a collection of small programs that larger programs can load when needed to complete specific tasks. The small program, called a DLL file, contains instructions that help the larger program handle what may not be a core function of the program.
What must people taking out a mortgage agree to? Check all that apply. A loan amount plans for repairs an interest rate renovation ideas payment terms.
The things which people who are taking out a mortgage must agree to are:
A loan amount, Interest ratePayment termsAccording to the given question, we are asked to state the things which people who are taking out a mortgage must agree to and why they are essential for obtaining this loan.
As a result of this, we can see that when a person is taking out a mortgage loan, then he is expected to agee on the loan amount, the interest rate and the payment terms.
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Answer:
A loan amount,
Interest rate
Payment terms
Explanation:
By 2030, what will Elon Musk's, net worth will be?
Tom, a customer care executive, receives an order of 25 personal computers from a customer who wants the goods to be delivered to him in two days. Tom needs to inform the customer of that there will be a delay in shipping goods in bulk in such a short span of time. In order to maintain trust, Tom should: _________
a. update the customer only when they enquire on the delay in the shipment.
b. update the customer regarding the delay as per his own convenience.
c. update the customer regularly and keep the customer informed of any further delay
d. update the customer only when he or she raises a complaint regarding non-receipt of goods.
Answer:
b. update the customer regarding the delay as per his own convenience.
Based on the given information, Tom should update the customer regarding the delay at his own convenience. Thus the correct option is B.
What is a Customer?A customer is referred to as an individual who purchases a product or service. He may or may not be the consumer. A consumer refers to a person who utilizes or consume goods and service.
In the given case, it is explained that A customer orders 25 personal computers for Tom, a customer service representative, and requests that the items be delivered to him in two days.
Now it is observed that the order is getting delayed, in order to maintain trust with the customer he should inform the client of the delay at his earliest possible opportunity to avoid any dissatisfaction among customers.
Customer satisfaction is the key to the success of any business which can be achive through better customer service. If any delay is caused it is better to inform than to create any misunderstanding or confusion for later.
Therefore, option B is appropriate.
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a whopping 432,000 square feet in size, which of these fields is larger than the other three combined?
The field that is larger than the other three fields combined is the polo field.
On average, one polo field measures 275 meters by 146 meters, which is equal to 40,154 squared meters or approximately 432,000 square feet.
This is a very big area if compared with the areas required to play different sports. Here are some of the areas:
Soccer field: The area of a soccer field is approximately 7,140 squared meters or 76854 squared feet.Baseball field: The area of a baseball field is 14,864 squared meters or 159994 squared feet.Football field: The area of a football field is 5351 squared meters or 57600 squared feet.Indeed, if you add the three areas (76854 + 159994 + 57600) the total area is 294,448 is still smaller than the area of a polo field.
Note: This question is incomplete because the options are missing; here is the missing part:
Soccer fieldBaseball fieldPolo fieldFootball fieldLearn more about field in: https://brainly.com/question/4988718
Which of the following is something a "smart pick list" does NOT help pickers do?pick materials based on order of deliverypick materials based on due datephysically lift heavy itemspick materials using a pre-programmed, efficient route
Answer:
physically lift heavy items
Explanation:
pick materials based on order of delivery (that makes sense so you know when everything comes in)
pick materials based on due date (that makes sense so you how to plan and order everything to line up right)
pick materials using a pre-programmed, efficient route (that makes sense so you have a guide! You won't have to stress this way and it's seems simple.)
physically lift heavy items (that doesn't makes sense if they're heavy you'll be wasting your time fighting up with it. Have people help do that.)
Professional real estate trade associations and state real estate Commissions help guide real estate licensees in the practice of their profession by creating A) a code of ethics. B) a special category of licensing for those who work free of charge for in-need clients. C) a business model for real estate professionals. D) a list of real estate licensees who promise to act ethically.
The real estate associations and Commissions help to guide the real estate licensees by creating the code of ethics.
Code of ethics refers to those set of principles which are required to guide professionals in the conduct of their business with integrity.
The real estate associations and Commissions help to guide the real estate licensees by creating the code of ethics.
The Realtors' Code of Ethics is divided into three major sections which includes:
Duties to Clients and CustomersDuties to the PublicDuties to Realtors.Therefore, the Option A is correct.
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How might a recent college graduates investment portfolio differ from someone who is nearing retirement?
Answer: someone who is retiring has more experience on what to invest in than someone who is still getting used to knowing what to invest in
Explanation:
WHAT IS THE WORLDS LARGEST PEANUT 50 points
Answer:
I AM THE LARGEST PEANUT
Explanation:
Answer:
Unveiled with fanfare on a chilly Friday, Nov. 15, 1974, it's 3 feet long and 18 inches around, crafted of 50 pounds of aluminum and dedicated to the Bryan County Peanut Growers and Processors
Culver City College, a public college, has a 10-week summer session that starts on June 25, 2020, so that one week is held during FY 2020 and the other nine weeks meet during FY 2021. Tuition and fees in the amount of $1,000,000 were collected from students for classes to be conducted in this session.
Required:
What amount should Culver City College recognize as unrestricted revenue in each of the years ended (FYE) June 30, 2020 and June 30, 2021?
Based on the information given, the amount that will be recognized as unrestricted revenue in each of the years will be $100,000 and $900,000.
Unrestricted revenue simply means the donations that can be used by a company or group for purposes that meet the goals that were set aside.
From the information, the unrestricted revenue in June 30, 2020 will be:
= 10% × $1,000,000
= $100,000
The unrestricted revenue for June 30, 2021 will be:
= $1,000,000 - $100,000
= $900,000
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On December 28, Kerr Manufacturing Co. purchased goods costing $50,000. The terms were F.0.B. destination. Some of the costs incurred in connection with the sale and delivery of the goods were as follows.
Packaging for shipment $1,000
Shipping 4,500
Special handling charges 2,000
These goods were received on December 31. In Kerr's December 31 balance sheet, what amount of cost for these goods should be included in inventory?
one difference between monopolistic competition and oligopoly is that firms in monopolistic competition are assumed to:
Answer:
Monopolistically competitive firms are assumed to independently set the price of their differentiated product.
Explanation:
Monopolistic competition and oligopoly are two types of market structure.
Definitions:Monopolistic competitionMonopolistic competition is characterized by several competing sellers in an industry with differentiated products. In this market structure, monopolistically competitive firms have lesser barriers to entry or exit. Additionally, the consumers view the monopolistically competitive firms' products as somewhat different from the goods produced by competing firms. However, the consumers view those competing products as close substitutes. Thus, product differentiation is crucial in the success and longevity of monopolistically competitive firms. Product differentiation is the process of attracting customers by creating a feature or image that will make a product stand out or distinguishable from the existing products in the market. Through product differentiation, monopolistically competitive firms can have some control over setting prices on their products, which gives them limited market power. Although, the amount of products that the firms could sell is also contingent on the number and prices of existing substitute products in the market.
OligopolyIn contrast, oligopoly is a type of market structure characterized by a handful of major producers that have the power to influence to set the prices of their goods through price leadership. The actions taken by an oligopolist may significantly affect the sales of other firms in the same industry—when a leading oligopolistic firm increases its price, the other firms will likely follow suit. Hence, the prices of comparable goods are often similar.
Under this market structure, firms have a cost advantage compared to smaller firms due to increasing returns to scale. This means that the oligopolists could produce their products in larger volumes using lesser inputs. It is also difficult for new entrants to enter an oligopolistic industry due to lack of sufficient capital investment.
Specialties in the property management field include all of the following EXCEPT A) resort housing. B) asset management. C) concierge services. D) land-use planning.
The answer choice which is not one of the specialties in the property management include:
C, Concierge servicesProperty managementProperty management refers to all the processes which are involved in the handling, the organization, the leasing and management of a piece of property, usually by a realtor.
Concierge servicesWith this in mind, we can see that concierge services includes the coordination of the guests in a lodging by making reservations and bookings and everything else which makes the customer service better and this is NOT a specialty in property management.
Therefore, the correct answer is option C
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What is an example of good workstation ergonomics?
Elbows closed
Seat too high
Straight neck and back
Wrists bent
Answer:
Back should be straight with a slight lordosis (inward curve) in the lower spine. Neck and head upright (ears aligned with your shoulders) Shoulders should be pulled back but relaxed. No twisting or leaning on one side.
How much does it cost to fly a dog internationally
Answer:
at least 3 watts
as a general rule what percentage of debt to gdp
Answer:
There is no general rule.
Explanation:
Treasury yield is the return on investment, expressed as a percentage, on the U.S. government's debt obligations. Looked at another way, the Treasury yield is the effective interest rate that the U.S. government pays to borrow money for different lengths of time.
What is a primary benefit of starting a new business without purchasing a franchise or buying an existing business?
1. Less record keeping
2. Lower financial risk
3. You can apply your own experience
4. Developing your own rules
Answer:
4.
Explanation:
Instead of having to follow a franchises rules or prexisting rules at the existing business you can develope your own affecting costs and overall efficiency of your company.
The primary benefit of starting a new business without purchasing a franchise or buying an existing business is developing your own rules. Thus, option fourth is correct.
What is business?A business is described as a firm or organization that engages in economic, industrial, or professional activity. Businesses can be either for-profit or non-profit organizations.
Limited liability firms, sole proprietorship, companies, and partnerships are all elements of marketing structures.
The first step of the business is to prepare the budget. As contrast to satisfying the financial criteria of purchasing a franchise or a running firm, you can tailor your new business to match your available cash, such as by working from home or part-time.
Therefore, it can be concluded that option fourth is correct.
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Pretend you are a highschool student who makes minimum wage. You want to buy a new car, but you are $10,000 short. You are looking at the two loans identified below. Explain which loan is more appealing and why you would choose that over the other. Use details to support your answer.
Thanks for the help!!!
joe, a hair dresser, offers students a discount price on haircuts. this form of pricing is an example of
Zola just secured her first job after college, and she's heard that it's important to start investing for her retirement. She can afford to put 5% of her monthly salary toward retirement. What type of account should she choose for this goal? * 1 point IRA CD MMA HSA
Answer:
IRA
Explanation:
An individual retirement account or IRa is the account that Zola needs to use for proper investing because of her retirement plans.
What is an Individual Retirement Account(IRA)?The Individual Retirement Account is one of the very few accounts or motives that have been taken into consideration for the purpose and benefit of early retirement during the process. The most important thing is that the Individual Retirement Account helps to lead a life after retirement more peacefully and also without any kind of headaches.
The other most important thing is that individual retirement Account helps to provide some of the best options for savings, by not deterring taxes, and also by some level it sometimes may also become tax-free.
Individual Retirement Accounts are mainly of three types. Although personal IRAs could also be seen as Inherited IRAs and Custodial IRAs. Hence, the above statement is proven.
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How familiar does a publicist need to be to do their job effectively?
Very familiar. It's the publicists job to make their client or company look good, with knowing past discrepancies of their client, they must do everything to keep up their client's image, as well as handling all their affairs in regards to, well, publicity, and getting their client known.
When looking for pre-approval on a car loan you should NOT...
When looking for pre-approval on a car loan you should NOT get a loan from the car dealer directly to keep things simple.
Pre-approval occur when the lender has check or go through all the report of your credit so as to know the amount he or she will likely lend you as well as the interest rate.
Pre-approval tend to give the borrower the assurance that he or she will be given the car loan by the lender.
It is important that you compare the pre-approval offers given to you so as to choose or select the offer that is best for you and you should avoid getting the car loan directly from the car dealer, ensure that you follow the due process.
Inconclusion when looking for pre-approval on a car loan you should NOT get a loan from the car dealer directly to keep things simple.
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You took out a $5000 car loan from a bank that is going to charge you month 4% APR for the next 3 years list how much interest you pay for this loan, list how much the loan will cost you overall and your monthly payment for the loan.
The final values of the loan would be:
The cost of the payment for each month is: $ 138.88 + $ 16.66 = $ 155.54 (interest)The total cost of interest is: $ 600 = $ 200 × 3 years.The total cost of the loan is $ 5000 + $ 600 = $ 5600 (3-year interest)What is the APR?APR is an acronym for the percentage interest rate on a loan that a bank charge for each year that the loan is repaid. According to the above, in a loan of $ 5000, we must pay 3 times the 4% because the payment will be made within 3 years.
To know the value of the interest on the loan we must divide the value of the loan by 100 and multiply the result by 4 as shown below:
$ 5000 ÷ 100 = $ 50$ 50 × 4 = $ 200According to the above, the value of the interest is $ 200. To know the total value of the interest we must multiply $ 200 by the years that we are going to pay the loan as shown below:
$ 200 × 3 = $ 600Finally, to know how much we must pay each month we must divide the total value of the loan by the number of months that we are going to pay the loan. On the other hand, we must divide the total value of the interest by the number of months that we are going to pay the loan and add it to the total value of each month as shown below:
$ 5000 ÷ 36 = $ 138.88$ 600 ÷ 36 = $ 16.66138.88 + $ 16.66 = $ 155.54Learn more about APR in: https://brainly.com/question/8846837
Gareth bought a home for $135,000. The home gained 2. 2% in value every year for eight years until Gareth sold it. How much profit did Gareth make, to the nearest hundred dollars? a. $60,700 b. $25,700 c. $23,800 d. $29,100.
The amount of profit made by Gareth upon the sale of the home is $26,700.
Computation:
Given,
[tex]P[/tex] = Principal Amount of $135,000
[tex]i[/tex] = interest rate of 2.20%
[tex]n[/tex] =number of years are 8 years
First, the value of the home at the end of the 8th year will be computed by using the formula of future value.
[tex]\begin{aligned}\text{Future Value}&=P\times(1+i)^n\\&=\$135,000\times(1+0.022)^8\\&=\$160,672.27\end{aligned}[/tex]
Now, the profit will be computed by taking the difference of the future value of the home and the purchase price or the principal amount of the home.
[tex]\begin{aligned}\text{Profit}&=\text{Future Value\;-\;Principal Amount}\\&=\$160,672.27-\$135,000\\&=\$25,672.27\;\text{or}\;\$25,700\end{aligned}[/tex]
Therefore, at the time of sale of the home, the amount of profit gained by Gareth is $25,700.
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Answer:
b. $25,700
Explanation:
got it right
Which group is the primary source of financial support that benefits all wildlife species?
The group that is the primary source of the financial support needed for wildlife species is Hunters.
The main source of the financial support that the nation uses to fund wildlife conservation efforts to protect various wildlife species is hunting licenses.
Hunting licenses are issued to hunters so in effect, hunters are the chief financiers for conservation efforts. This is quite peculiar and one could say that it balances out the killing of animals by hunters.
In conclusion, the answer is hunters.
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Possible careers related to my results that appeal to me most include:
Explanation:
ummmmn I don't get this lol