Journal entry worksheet <02 © © © © © © C An inventory count shows that teaching supplies costing $2,776 are available at year-end 2017. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet < 0 2 3 2 6 6 © Annual depreciation on the equipment is $12,814. Note: Enter debits before credits. Transaction General Journal Credit Debit 12,814 Accounts receivable | Accounts payable 12,814 Journal entry worksheet ....... On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,500, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the Note: Enter debits before credits. Transaction Debit General Journal | Unearned training fees Training fees earned Credit 12,500 e. 38,937 View transaction list Journal entry worksheet < 1 2 3 4 5 On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $3,800 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, Note: Enter debits before credits. Transaction General Journal Credit Debit 3,800 Accounts receivable Tuition fees earned 3,800 Journal entry worksheet LUUUUUUUUUUUU 6 WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. Note: Enter debits before credits. Transaction General Journal Debit Credit 100 | Salaries expense Salaries payable 100 Required information Problem 3-3A Preparing adjusting entries, adjusted trial balance, and financial statements LO P1, P2, P3 [The following information applies to the questions displayed below.) Wells Technical Institute (WTI), a school owned by Tristana Wells, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, 2017, follows. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31, 2017, follow. Additional Information Items a. An analysis of WTI's insurance policies shows that $3,203 of coverage has expired. b. An inventory count shows that teaching supplies costing $2,776 are available at year-end 2017. c. Annual depreciation on the equipment is $12,814. d. Annual depreciation on the professional library is $6,407. e. On November 1, WTI agreed to do a special six-month course (starting immediately) for a client. The contract calls for a monthly fee of $2,500, and the client paid the first five months' fees in advance. When the cash was received, the Unearned Training Fees account was credited. The fee for the sixth month will be recorded when it is collected in 2018. f. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an individual for $3,800 tuition per month payable at the end of the class. The class started on October 15, but no payment has yet been received. (WTI's accruals are applied to the nearest half-month; for example, October recognizes one-half month accrual.) g. WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $100 per day for each employee. h. The balance in the Prepaid Rent account represents rent for December. WELLS TECHNICAL INSTITUTE Unadjusted Trial Balance December 31, 2017 Credit $ Debit 26,642 0 10, 245 15,371 2,050 30,739 $ 9,223 71,718 Cash Accounts receivable Teaching supplies Prepaid insurance Prepaid rent Professional library Accumulated depreciation Professional library Equipment Accumulated depreciation Equipment Accounts payable Salaries payable Unearned training fees Common stock Retained earnings Dividends Tuition fees earned Training fees earned Depreciation expense-Professional library Depreciation expense-Equipment Salaries expense Insurance expense Rent expense Teaching supplies expense Advertising expense Utilities expense Totals 16,396 35,659 0 12,500 12,000 53,169 40,988 104,516 38,937 0 0 49,186 22,550 0 7,173 5,738 $ 282,400 $282,400 Required: 1. Prepare the necessary adjusting journal entries for items a through h. Assume that adjusting entries are made only at year-end. No Transaction General Journal Debit Credit 3,203 Insurance expense Prepaid insurance 3,203 2,776 X Teaching supplies expense Teaching supplies 0X 3 C. 12,814 Accounts receivable Accounts payable 12,814 Cash 6,407 Accumulated depreciation—Professional library 6,407 12,500 X Unearned training fees Training fees earned 38,937 X Accounts receivable 3,800 X Tuition fees earned 3,800 X Salaries expense 100 X Salaries payable 100 X

A code of conduct outlines the policies and procedures that employees and employers must follow in the workplace.

The five codes of conduct are as follows:

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In order to compete successfully, businesses can use IT integration to make the most of their current processes, personnel, technology, and information. Businesses that lack integration, on the other hand, frequently lament major cost increases and resource use.

Organizations in the modern era are driven by business integration, which is a major growth driver. The organization's energy usage will be decreased by a well-integrated system, which also makes it possible to dig deeper into crucial customer data. Therefore, in order to connect various business operations, firms of today are integrating with various platforms.

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b. Gross Domestic Product (GDP)  is officially measured by adding together the market value of all final goods and services produced within the borders of a nation.

Gross Domestic Product (GDP) is the market value of all final goods and services produced within the borders of a nation in a given year. It is the most commonly used measure of economic growth and is an important indicator of a country's overall economic health.

GDP measures the total output of a country, including consumer spending, investments, and government spending. GDP is calculated by adding up the value of all goods and services produced in a given year, after adjusting for inflation.

GDP is typically measured in constant dollars, which means that the value of the goods and services produced is adjusted for inflation. This means that the GDP figure provides a more accurate picture of the real economic activity in a country over time.

GDP is used to measure the health of an economy, as well as to make comparisons between countries.

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Gross domestic product is officially measured by adding together the a. quantity of each good and service produced by u.s. residents. b. market value of all final goods and services produced within the borders of a nation. c. quantity of goods and services produced by companies owned by u.s. citizens. d. none of the answers above are correct

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Accenture myConcerto (formerly known as the Accenture Intelligent Enterprise Platform) brings together Accenture's most disruptive ideas around industry, innovation, and technology to deliver greater business value more quickly and easily. It is already in use with more than 60 clients across the globe using SAP solutions.

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An equipment purchased last year is an example of a sunk cost.

Sunk costs are expenses that have already been paid for and cannot be retrieved. No matter what actions are taken in the future, the cost has already been incurred and cannot be changed. These costs attempt to explain why people are unwilling to just give up anything they have previously invested in, leading them to continue making investments even when they cannot recover their initial costs.

Equipment purchased last year is an example of a sunk cost as it is a past cost that has already been incurred and cannot be recovered. For example, if a company purchased equipment last year for $175,000, that cost is a sunk cost because it has already been paid and cannot be recovered. The company cannot change the fact that it paid $175,000 for the equipment, no matter what it does going forward.

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Producers of a strong company once in a while sell it to dealers only if they will take some or all of the relaxation of the line. This is called full line forcing.

Having a robust brand is all about consistent and recognizable enterprise expressions; to provide now not only merchandise and services however additionally meaning. In many ways, a sturdy company is the nucleus of a company's success and is the end result of an high-quality brand strategy

These are the four essential company factors that you will need to address when creating your manufacturer strategy. A strong manufacturer requires a robust manufacturer identity, company image, manufacturer culture, and company personality.

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The tax shown on Jenn Smith's tax return was 15% less than the correct amount. This is considered a substantial understatement because it is more than 10% less than the correct amount.

Substantial understatement refers to a tax understatement of more than 10%. If the taxpayer has deliberately presented an understated tax or irresponsibly presented tax less than the original, it will be termed as a substantial understatement.

Misrepresentation of statements invites accuracy-related penalties to the tax payer. These penalties are applicable on substantial understatement caused by intention or negligence. Jenn Smith has reported his tax liability of 15% which is more than 5000$ or 10%. Therefore, Jenn will face accuracy-related penalties as this is a substantial understatement case.

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When a company issues stock or shares to the public for the first time, it is referred to as initial public offer

The initial public offering, which is when stocks or shares of a company are issued to the public for the first time, is a way for the company to raise money for expansion.

In other words, the company would have been a private corporation previous to the IPO, which means that a small number of private individuals hold the majority of its shares and that the general public has no choice to become a shareholder through an equity investment.

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The primary concern for investors who use a buy-and-hold strategy to maintain their portfolios is to ensure that their portfolio remains diversified and balanced.

To do this, investors must regularly assess the performance of their investments and make sure that they are still in line with their goals and risk tolerance. This involves monitoring asset allocations and rebalancing their portfolios when necessary. It also involves researching the underlying investments and making sure they remain sound and have good prospects for the future. Lastly, investors need to stay informed on current market conditions and make adjustments as needed to keep their portfolios in line with their long-term goals.

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Answer:

True

Explanation:

A financial road map, also known as a financial plan, is a guide for individuals and companies to use in order to make informed decisions about their spending and saving. A financial plan typically includes information about an individual's or company's current financial situation, financial goals, and strategies for achieving those goals. It may include information about income, expenses, debts, assets, and investments, as well as a budget and a plan for managing financial risks. A financial plan can help individuals and companies make informed decisions about how to allocate their financial resources in order to achieve their financial goals and manage their financial risks effectively.

The  receivables turnover ratio for the year is 4.0

Receivable turnover ratio = Credit sales/Average accounts receivable

=850000/210000

=4.0

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The three steps to fix an amount that was put to the wrong column are:

In the column where you uploaded it wrongly, put a line through the incorrect item.

note the accurate amount being posted in the column.

Recalculate the account's overall balance.

What Is a Balance in an Account? The amount of money held in a financial institution, such as a savings or checking account, at any particular time is known as the account balance. The net amount after taking into account all debits and credits is always the account balance.What is the balance?

The balance is the sum of money owed (or due) on an account in banking and accounting. The term "balance" in bookkeeping refers to the difference between the total of debit entries and the total of credit entries made into an account over the course of a certain financial period.

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Using a coupon for things you haven't bought, stealing modest consumer goods, and eating products in-store without paying for them are all examples of unethical consumer behavior.

Good and evil behavior is distinguished by ethics. Ethical and immoral are adjectives, thus they can be used in front of phrases like problems, behavior, practices, and so on. All of these are connected to how people behave or conduct their private lives. Morally corrupt behavior is what we call unethical.

Equity, rights, honesty, and the use of corporate power are the four categories into which ethical behavior in business can be separated. Business enterprises must balance their obligations to their customers, shareholders, employees, and the general public. Consequently, the discipline includes social, personal, business responsibility, loyalty, fairness, respect, trustworthiness, and technology ethics.

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The net rise in cash for the year, according to the question, is 3,92,700.

Cash payments are made to the provider of services or products by the recipient in the form of coins or notes. It may also entail paying employees within a company for the hours they worked or compensating them for tiny expenses that are too little to have processed through the account receivables system.

The net increase in cash for the year is $3,92,700

Cash Flow from Operating Activities:

Net Income $3,15,000

Reconciliation of income statement to cash reserves from operating activities adjustments:

Depreciation ($14800 - $10500) $93,700

Loss on sale of equipment $10,600

Increase in Accounts Receivables -$42,600

Decrease in prepaid expenses $10,800

Increase In Accounts Payable $16,200

Decrease In wages payable -$13,300

Net Cash Flow from Operating Activities $3,92,700

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Gatsby tried to impress Daisy by showing her his mansion and his expensive clothes. The appropriate response is choice (2).

The Great Gatsby is a book that was written by American author Scott Fitzgerald and released in 1925.  The book's first-person narrator, talks about his interactions with the mysteriously wealthy Jay Gatsby and his preoccupation with finding his past lover Daisy Buchanan. The story takes place in Long Island, a neighborhood of New York City, during the Jazz Age.

In Jazz Age New York, it depicts the tragic tale of self-made millionaire Jay Gatsby's pursuit of Daisy Buchanan, a wealthy young woman he once loved.

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During the question phase, data analysts examine the current situation and note how it differs from the ideal situation. Relationship between the data analysis process's requesting phase and the data life cycle's planning phase:

data analysts is crucial in the modern, technological environment. Data goes through a several phases/stages as it is created, consumed, tested, handled, and reused for as long as it can remember. Data transformation and verification are topics Relationship by the data life cycle; data analysis uses the knowledge discovered by the data. The stages that data goes through during its useful life are covered by the data life cycle; data analysis is the process of evaluating data.

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A flowchart of the points of contact between the client and the provider is made during a customer contact audit. A flowchart is a diagram that shows a process' individual steps in their proper order.

It is a general tool that may be customized for a wide range of uses and used to define a variety of processes, including a project plan, an administrative or service process, or a manufacturing process. It is one of the seven fundamental quality tools and a typical tool for process analysis. An activity sequence, materials or services entering or exiting the process (inputs and outputs), decisions that must be taken, participants, the amount of time required at each step, and/or process measurements are examples of elements that may be included in a flowchart. to gain knowledge of how a process is carried out.

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The Annuity = 372.79. The required answer is option (b).

The practise of calculating the income accrued quarterly on a deposit account or investment, estimated based on the principle amount principal and interest earned for prior periods, is known as quarterly compounding. The term "compounding quarterly" describes the amount of interest that is earned on a bank account or investment on a quarterly basis when the cash is also recycled.

n = 3 years adjusted for quarterly compounding =3*4=12

r = 8% adjusted for quarterly compounding =0.08/4 =0.02

[tex]FV_{OA} = Annuity*\frac{(1+r)^n-1}{r}[/tex]

[tex]5,000 = Annuity*\frac{(1+0.02)^{12}-1}{0.02}[/tex]

5,000 = Annuity*24.2973698

5,000 = Annuity*13.41208973

Annuity = 372.79

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All taxes may be broken down into three categories: taxes on your purchases, taxes on your income, and taxes on your assets. When purchasing the majority of products, services, consumers must pay sales taxes.

Individual income taxes, corporate income taxes, capital gains taxes, estate taxes, and property taxes are examples of direct tax.

A delivery of goods or services or perhaps both made to a registrant may be subject to the following taxes: the central tax (CGST), the state tax (SGST), the integrated tax (IGST), or the union territory tax (UTGST). It also comprises integrated tax, merchandise and services tax payable on imports of items, as well as tax paid on a reverse charge basis.

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The amount of money that Tyler needs, to be able to buy himself and 4 friends lunch, is  $ 7. 50

The price of 3 lunches is given to be $ 4. 50 . This means that if the price of each lunch is fixed, the price of each lunch would be :

= Cost of lunch / Number of lunches

= 4 .50 / 3

= $ 1. 50 per lunch

If Tyler wants to buy for himself and 4 friends, that is five people so the money needed would be:

= Cost of each lunch x number of people

= 1. 50 x 5

= $ 7. 50

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A barter economy relies on goods as a primary medium of exchange for trade of other goods and/or services.

A barter economy can be referred to or considered as a form of economy wherein the use of money is completely nonexistent. However, the exchange of goods is done through some other goods.

There are certain discrepancies and irregularities in store and measure of value of goods in a barter economy. It also does not lead to creation of artificial demand in the economies. Such economies are not in relevance around the world currently.

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erica is analyzing the shares of songatikamas company. the company currently pays a dividend of $2.50. she believes the company has a new product that will result in supernormal growth of 20% for two years

     the value of songatikamas  Div 3 = 3.708  

Div 3 = Div0*(1+g1)^2*(1+g2)           Div0 = 2.5             g1 = .20             g2 = .03             Div 3 = 2.5*((1+.20)^2)*(1+.03)   Why do you use the term shares?

Shares are fractional ownership interests in a corporation. For some businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual profits in the form of dividends. A stock with no dividend payments does not distribute its income to its shareholders.

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In the event that consumers anticipate price increases in the future, they will want more now.

A good or service's total quantity demanded during a specific period of time is referred to in economics as the quantity demanded. Whether a market is in equilibrium or not, it depends on the cost of an item or service. The demand curve—or just "demand"—is the connection be demand is the measure of how much the amount required alters in response to price.

The quantity that consumers desire in a market is determined by the price of a commodity or service. A higher price causes a lower amount demanded, while a lower price causes a higher quantity demanded, assuming that non-price elements are taken out of the equation. As a result, the law of demand states that there is an inverse relationship between the price of a good and the quantity demanded for it.

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Excess inventory is not one way to protect against supply chain unpredictability. Safety stock inventory, also known as buffer stock, is the amount of excess stock kept on hand to reduce the danger of running out of raw materials.

A safety stock is an additional quantity of a product that is kept in the warehouse to avoid an out-of-stock situation. It acts as a hedge against swings in demand. A safety stock is an additional quantity of a product that is kept in the warehouse to avoid an out-of-stock situation. It acts as a hedge against swings in demand. Safety stock protects you from unexpected demand increases and erroneous market estimates that might occur during a busy or festive season. It acts as a buffer when the things you bought take longer than expected to arrive at your warehouse.

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Companies are viewed as myopic if they define their missions in terms of products or technologies, mainly because these things eventually become obsolete.

No shortage of things are lauded as "revolutionary" or "completely transformative" when they are first released. Sure, every firm that introduces a new device into the world likes to think that its cutting-edge design and sophisticated new production method will fundamentally alter the way we interact with technology in the future. They do, however, naturally believe this because it occasionally occurs. The seven different product categories are: Luxury or premium goods. unwelcome goods. NicheProducts. Commodities. preferences of consumers. Convenience items. complementing products. Electronic, mechanical, medicinal, industrial and manufacturing, and tool technologies are five examples of different forms of technology.

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The basic structure of the bones is the bone matrix, which constitutes the underlying rigid structure of the bones,composed of both compact bone and cancellous bone.

The bone matrix consists of tough protein fibers,mainly collagen,which become hard and rigid due to mineralization with calcium crystals. Osteoblasts and osteocytes, responsible for creating bone,osteoclasts or bone resorption cells,osteoid,a mixture of collagen and other proteins, inorganic mineral salts within the matrix,nerves and blood vessels, bone marrow,cartilage.Bone is a mineralized connective tissue that has four types of cells osteoblasts, bone lining cells, osteocytes, and osteoclasts. Bone performs important functions in the body,such as locomotion,soft tissue support and protection, calcium and phosphate storage,and housing for bone marrow.

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As per the given transactions, median voter will vote to spend $30 per person and the voting outcome will be $1590 per person.

The term transaction in economics is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money.

Here we have given that  issue in a particular city vote is how much to spend, per person, on city parks next yea

And we need to find median voter will vote to spend $30 per person and the voting outcome

While we looking into the given question, we have identified that if there is a vote on whether to spend $30 per person or $150 per person, then the number of individual who spend 1000 to 3000

Then the median voter will vote to spend is calculated as

=> M = (3000 + 180)/2 = 1590

Here the median voter will vote to spend $30 per person and the voting outcome will be $1590 per person.

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The Japanese word "visual card" or "signboard" is kanban. The visual and physical signalling system that connects the entire Lean manufacturing agile system is known at Toyota as Kanban.

The Japanese word "visual card" or "signboard" is kanban. The visual and physical signalling system that connects the entire Lean manufacturing system is known at Toyota as Kanban. Kanban has been utilised in lean production for more than 50 years. It is currently being updated for various disciplines, such software.

Anderson outlined five essential elements of every successful Kanban technique implementation. Make process policies explicit, manage flow, limit work-in-progress, visualise the workflow, and improve collaboratively.

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A manager notices that food handlers are eating their lunch behind the cooking line. The manager should: conduct training on where food handlers can eat

A manager is a professional who leads an organisation and manages a team of employees. Managers are frequently in charge of a specific department within their company. There are various types of managers, but they alal have responsibilities such as conducting performance reviews and making decisions. A manager plays an important role duty is to devise a strategy to accomplish the company's goals and objectives. This includes assigning employment funding and delegating accountabilities, as well as establishing realistic completion timelines and standards.

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NAFTA boosted alternate by means of casting off all tariffs among the three countries. It also created agreements on global rights for commercial enterprise investors. That decreased the price of commerce. It spurs funding and growth, specifically for small businesses.

The North American Free Trade Agreement (NAFTA), which used to be enacted in 1994 and created a free exchange quarter for Mexico, Canada, and the United States, is the most essential feature in the U.S.-Mexico bilateral industrial relationship.

North American Free Trade Agreement (NAFTA), controversial trade pact signed in 1992 that gradually eliminated most tariffs and different trade obstacles on merchandise and offerings passing between the United States, Canada, and Mexico.

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