Based on the balance on the account and the amount purchased, the balance on the Equipment office account was A. Debit $5,090.
The opening balance for the Equipment office account was $4,400 on May 1.
The store then purchased a calculator for the office on May 1 for $690. This will increase the Equipment office account by the same amount.
The balance would therefore be:
= 4,400 + 690
= $5,090
This balance would be a debit as this is an asset.
In conclusion, option A is correct.
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is the value of all goods in an economy using current prices during the year that they were produced
Nominal gross domestic production is the value of all goods in an economy using current prices during the year that they were produced.
What is nominal gross domestic production?This is the value of all goods and services an economy produces, which is done evaluating the GDP at current market prices.
Here, there is no adjustment for inflation in nominal gross domestic production.
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I need help with writing a case analysis report. can someone please be of help?
Based on academic writing research, writing a case analysis report, you need to follow some specific steps, which begin with "Reading and Assessing the Case thoroughly."
Other steps you would need to take include the following:Focus your cases analysisDetect possible solutions or changes requiredChoose the best solutionComplete the case analysisHowever, note that the case analysis report will have the following body:
IntroductionBackgroundEvaluation of the caseProposed solutionRecommendation.Hence, in this case, it is concluded that writing a case analysis report requires you to follow specific steps.
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Holly's salary is $80,000 per year. She contributes 10% of her salary to her 401(k) plan. Her employer contributes 5% of her salary to a profit share plan. She also contributes $2,500 per year to an IRA. Holly's savings ratio is
Based on the amount that Holly contributes per year, her savings ratio can be said to be 18.1%.
Savings RatioPercentage of annual salary that is contributed to retirement funds. Includes savings made by employer.Holly's savings are:
= (10% + 5%) of salary + Contribution to IRA
= (15% X 80,000) + 2,500
= $14,500
Savings ratio is:
= Savings / Annual salary
= 14,500 / 80,000
= 18.1%
In conclusion, savings ratio is 18.1%.
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Help bell buissness help bell bel
Question
Increasing the M3 expansionary monetary policy will do
Which of the following?
Answer
A. it will increase the money supply
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Answer:A It will increase the money supply.
Explanation:
where does the 32 come from in cash received for common stock issued
explain why a business that is small enough to be managed by one or a few people and does not require a large amount of capital would be good for a proprietorship
A business that is small enough to be run by one or a few people and does not require a large amount of capital would be good for a sole proprietorship.
This type of business structure has less bureaucracy and does not require a lot of formality to be managed, making it an ideal setting for family businesses, such as grocery stores and clothing stores.
Therefore, in a sole proprietorship, the owner is responsible for the risks inherent in the business, with greater freedom and flexibility.
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Amy currently volunteers at her local hospital. She would like to one day
become a doctor. What is the best type of student organization for Amy to
join?
A. One that has a focus on community service
B. One that has a focus on building marketing skills
C. One that has a focus on health care careers
O D. One that has a focus on technology careers
Answer:
C
Explanation:
C focuses on health care careers it makes the most sense if she wants to be a doctor.
A tax on the amount of money a person earns in a year is a(n)
A. income tax
B. sales tax
C. credit tax
O D. property tax
Answer:
A. Income Tax
Explanation:
Answer:income Tax
Explanation:I jus take a test
what is likely to play a more important role in a mixed economy than in a free market economy
Answer:
Heya!
Explanation:
The characteristics of a mixed economy include allowing supply and demand to determine fair prices, the protection of private property, innovation being promoted, standards of employment, the limitation of government in business yet allowing the government to provide overall welfare, and market facilitation by the self-interest of the players involved.
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expalain fiveprinciples of insurance
Answer:
insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.
On January 1, 2020, Holiday Inc. offered a stock option incentive plan to a top executive. The plan provided the executive 300 stock options for Holiday Inc. $1 par value, common stock at an option price of $15 per share through the expiration date of January 1, 2026. The fair value of the options based upon an option-pricing model on January 1, 2020, is $12,000. The market price at year-end of Holiday Inc. stock is $15 per share on January 1, 2020, and $18 on December 31, 2020. The requisite service period is 3 years. The options were not exercised. Which of the following are true regarding the entry on January 1, 2026?
A.
No journal entry required
B.
Paid-in Capital—Stock Options would be credited for $9000
C.
Paid-in Capital—Stock Options would be credited for $12,000
D.
Paid-in Capital—Stock Expired would be credited for $12,000
Answer: The answer is Option D, paid-in Capital—Stock Expired would be credited for $12,000.
Explanation: Option D is Right, i.e. Stock option expired would be credited for $12,000. Whenever a share option is expired then it is requiring to make a journal entry to relabel the equity as expired stock options for the balance sheet purposes. This helps managers and investors understand that they won’t be issuing stock to the employee at a discounted price in the future. For this purpose, it is requiring to make entry that debit the stock option equity account and credit the expired stock option equity account.
Q1: Torville Company's contribution margin income statement is presented below.
Sales for the current period consisted of 5,000 units. Determine the company's
break-even point in dollars.
Torville Company
Contribution Margin Income Statement
Sales
Variable costs
Contribution margin
Fixed costs
Sales : $125000
Variable cost : $90000
Contribution margin : $35000
Fixed cost : $28000
Net income: $7000
Net income
S125,000
20.000
35,000
28.000
$7.000
Based on the sales and the contribution margin, the breakeven point in dollars is $28,000
The breakeven point can be found as:
= Fixed cost / Contribution margin per unit
Breakeven point is therefore:
= 28,000 / (35,000 / 5,000 units)
= 4,000 units
This amount in dollars is:
= (4,000 x (Sales revenue - Variable cost / Number of sales))
= 4,000 x (125,000 - 90,000/ 5,000)
= $28,000
In conclusion, the breakeven point is $28,000
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Help help help help help help
Answer:
Pretty sure its A
xyz company's cost function for the next four months is c=500000+5q then
a) find the be dollar volume of sales if the selling price is br. 6/unit
b) what would be the company's cost if it decides to shutdown operations for the next four months
Answer:
Enter the following transactions into richard’s checkbook register and state his ending balance: date type description amount 03/01 check #204 blue sky apartments $455. 00 03/05 dep payroll automatic deposit $390. 36 03/08 debit benny’s hamburgers and fries $9. 20 03/15 check #205 car payment $251. 59 03/19 dep payroll automatic deposit $390. 36 a. $715. 79 b. $1,009. 81 c. $780. 72 d. $880. 24.
Suppose that on any given day the prevailing equilibrium federal funds rate is below the Federal Reserve's federal funds target rate. If the Federal Reserves wishes for the federal funds rate to be permanently at the target level, then the appropriate policy for the Federal Reserve is to take a defensive open market purchase, everything else held constant. True False
The statement which states that If the Federal Reserve's wishes for the federal funds rate to be permanently at the target level, then the appropriate policy for the Federal Reserve is to take a defensive open market purchase, is TRUE.
Based on the given question, we can see that an open market operation refers to the way the federal government makes the federal funds rate to change buy making the loans more easily obtainable.
With this in mind, if they wish for the federal funds rate to be permanently at the target level, then they would have to take a defensive position by increasing the reserves through buying of securities so that economic activity would be stabilised.
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Select all that apply.
Work environments can be:
indoor
outdoor
both indoor and outdoor
none of the above
Answer:
C. Both indoor and outdoor
Answer:
C
Explanation:
Ambinu Flower Company provides flowers and other nursery products for decorative purposes in medium to large sized restaurants and businesses. The company has been investigating the purchase of a new specially equipped van for deliveries. The van has a value of $133,750 with a six-year life. The expected additional cash inflows are $52,500 per year. What is the payback period for this investment
The payback period for this investment is 2.55 years.
The payback period is a capital budgeting method. It is used to determine how long it would take to recover the amount of money invested in an project from the cumulative cash flows.
An advantage of the payback period method is that it is easy to calculate. A drawback is that it ignores the time value of money.
Payback period = amount invested in the van / cash flows
$133,750 / $52,500 = 2.55 years
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What low-risk investment can provide Kazuo income when he retires?
a. real estate
b. stocks
c. bonds
d. ira’s
Answer: D
Explanation:
Help help help help help
B..................................
When assets are pooled into financial instruments such as collateralized mortgage obligations (CMOs) to better facilitate selling them to the general public, the process is known as
It should be noted that When assets are pooled into financial instruments such as Collateralized Mortgage Obligations (CMOs) to better facilitate selling them to the general public the process is known as:
SecuritizationSecuritization helps in a process which involves the pooling of asset in order to make their selling to be faster and make the public to be aware of it.
Therefore, securitization is When assets are pooled into financial instruments such as Collateralized Mortgage Obligations.
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An app on a digital device that stores account numbers, passwords, and other
sensitive information is called a
A. digital wallet
B. mobile point of sale
C. QR code
D. blockchain
Answer:
A.digital wallet
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William buys land for $40,000 cash. Ten years later, when the land has dropped in value to $30,000, William sells it to his wife Susan at its fair market value, $30,000. What are the income tax consequences to William of the sale to his wife
The income tax consequences to William on the sale is that he realizes loss in the amount of $10,000 but does not recognize that loss.
Realized loss = Purchase cost - Sales cost
Realized loss = $40,000 - $30,000
Realized loss = $10,000
Hence, the income tax consequences to William on the sale is that he realizes loss in the amount of $10,000 but does not recognize that loss.
Therefore, the Option A is correct.
Missing options includes "William realizes and recognizes loss in the amount of $10,000. William realizes and recognizes zero gain or loss. William realizes loss in the amount of $10,000 but does not recognize that loss. None of the above."
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Jack went to the ABC Casino to gamble. ABC offers its customers one free spin of the Million Dollar Wheel if they fill out an application form. Jack filled out the form, spun the Million Dollar Wheel, and won. However, now ABC refuses to pay, claiming that because Jack did not purchase his chance at the Million Dollar Wheel, Jack gave no consideration and therefore, no contract was formed. Identify the accurate statement.
A. No contract was formed because Jack paid no money for his chance at the Million Dollar Wheel.
B. No contract was formed because ABC did not sign any written contract as an obligation to do so.
C. A contract was formed because filling out an application can constitute legal consideration.
D. A contract was formed because no consideration is needed when a customer takes advantage of a "free" offer.
Answer:
C. A contract was formed because filling out an application can constitute legal consideration.
Explanation:
I personally Think this because if you think about it , he didn't pay , which doesn't matter because its "free" but maybe they just named it the million dollar wheel for a better name , or they were using it for customers , but if he had won and received yet nothing than he is able to file a contract because therefore they lied to him and therefore that's a illegal thing for a company who is allowing to spin a wheel for reward and if he won than he should get what he won , therefore the answer is = C
Determine which of the following statements is correct regarding the relationship of ending inventory and beginning inventory.
A. The beginning inventory of the current period is the beginning inventory of the previous period.
B. The beginning inventory of the previous period is the ending inventory of the current period.
C. The ending inventory of the previous period is the ending inventory of the current period.
D. The ending inventory of the previous period is the beginning inventory of the current period.
The relationship between ending inventory and beginning inventory is ending inventory of the previous period is the beginning inventory of the current period.
Ending inventory is inventory that remains unsold at the end of a particular period of time. Beginning inventory is inventory that a business has in stock at the beginning of a particular period.
Ending inventory is a function of beginning inventory, cost of goods purchased, cost of goods sold.
Ending inventory = beginning inventory + cost of good bought - cost of good sold.
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Help help business please pelsss
Answer:
B. Negative
Explanation:
When all other things remain constant, there is an inverse relationship, or negative correlation, between price and the demand for goods and services.
Hope this helps!
Which of the following is not a legal right of a debtor?
A. The right to ignore persistent calls from a debt collector
B. The right to declare bankruptcy
C. The right to verify the amount of debt you owe
D. The right to protection from deceptive collection practices
Debtors are granted some measures or rights. The option that is not a legal right of a debtor is right to declare bankruptcy.
A lot of creditors often do not obey simple rules, and thus uses some kind of deceptive or intimidating actions so as to recover money they are owed. A lot of creditors often uses threats of violence in trying to recover debt.In the State of California’s Rosenthal Act, one, as a debtor, is known to have the right to be free from harassing letters and calls from creditors and collection agencies because of unpaid debt.
it is known to stop creditors from constantly disturbing one at home or sending threatening letters on a regular basis.
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Answer:
A. The right to ignore persistent calls from a debt collector
Explanation:
explain the advantages of earthworm farming
Answer:
Worms help to increase the amount of air and water that gets into the soil. They break down organic matter, like leaves and grass into things that plants can use. When they eat, they leave behind castings that are a very valuable type of fertilizer. Earthworms are like free farm help.
Explanation:
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Tide Corporation has traditionally made a subcomponent of its major product. Annual production of 30,000 subcomponents results in the following costs: Direct materials $ 250,000 Direct labor $ 200,000 Variable manufacturing overhead $ 190,000 Fixed manufacturing overhead $ 120,000 Tide has received an offer from an outside supplier who is willing to provide the 30,000 units of the subcomponent each year at a price of $28 per unit. Tide knows that the facilities now being used to manufacture the subcomponent could be rented to another company for $80,000 per year if the subcomponent were purchased from the outside supplier. There would be no effect of this decision on the total fixed manufacturing overhead of the company. Assume that direct labor is a variable cost. At what price per unit charged by the outside supplier would Tide be indifferent between making or buying the subcomponent
An amount of $24 per unit will need to be charged by the outside supplier to make Tide be indifferent between making or buying the subcomponent.
Relevant cost per unit to make = (Direct materials + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead) / Total sub-component unit
Relevant cost per unit to make = ($250,000 + $200,000 + $190,000 + $80,000) / 30,000 units
Relevant cost per unit to make = $24
Hence, the indifferent price is $24 per unit
Therefore, an amount of $24 per unit will need to be charged by the outside supplier to make Tide be indifferent between making or buying the sub-component.
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Bebe Co is a small company that manufactures and sells high-quality.blouses. Its customers are mainly fashion boutiques.
Bebe Co has two directors, one of who is non-executive. The other is involved in the day-to-day administration of the company. There are ten other employees. Six of these work in the factory, one works in the warehouse, one is a sales representative and two are accounts staff. The accounts staff consist of Miss Ines, who is responsible for processing sales and receivables, and Mrs. Evie, who is the purchases and wages clerk. Mrs. Evie works part-time, five mornings a week. The company's sales representative visits shops throughout the region. He takes orders from customers which he records on a pre-numbered two-part order form. He passes the completed forms to the accounts department. Miss Ines files one copy of the order form in numerical sequence and passes the other to the warehouse.
The completed order is dispatched from the warehouse by the carrier, accompanied by one copy of a dispatch note. The other copy is sent to Miss Ines, who prepares an invoice based on the information it contains and on the company's price list. She sends one copy of the invoice to the customer, and a second copy of the invoice is retained
Each Friday, Miss Ines inputs the week's invoices to the computerized sales ledger. She then files the invoices alphabetically by customer name. Dispatch notes are not retained because filing space is limited. Miss Ines opens the post daily and lists remittances received from credit customers. Every Friday, she inputs the information listed to the sales ledger. Cheques received are banked daily by the executive director.
Miss Ines reviews the sales ledger balances every month and writes to customers who have not paid within 90 days of receiving goods. The sales ledger is printed out annually for year-end purposes. Otherwise, no hard copy is printed, and Miss Ines reviews the sales ledger on the computer screen. The company's computer package includes the facility to produce a sales day book and sales ledger control account. These are not used because Miss Ines considers that the low volume of transactions (10-15 invoices per week) makes them unnecessary.
Requirements
a) Explain the particular issues relating to controls which would affect the audit of a small company such as Knits.
b) List six control objectives of a sales system.
c) State, with reasons, what you consider to be the potential deficiencies in Ecovacs’s present system of accounting for sales and receivables.
d) List and explain the controls that a small firm such as Ecovacs could feasibly adopt to overcome the deficiencies you have identified.
It should be noted that some of the issues that relate to controls that could affect the audit of a small company include the separation of duties, documentation, etc.
Some of the problems that van lap be faced during the audit include the failure to exercise professional care and the deficiency in confirming account receivables.
The control objectives of a sales system include:
Efficiently executing customers' orders. Raising sales invoices promptly.Revising sales policy.Implementing steps for improving productivity.Increasing sales profitability.Invoicing all goods and services.It should be noted that the deficiencies in the system of accounting include the determination of the face value of the receivables and the length of time the receivable will be outstanding.
Lastly, to avoid the problem above, consideration should be given to the integrity of the firm, and the financial soundness of the company.
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Which type of reinforcement schedule results in the quickest learning
I bad at explaining things but a easy way to learn quicker (for me anyways) is by taking notes and going over them everyday and reading a little ahead then you have to. Also by going at your pace first till you get use to it before you start pushing your self a little harder.
This helps a lot but than again every one is different so I would honestly juts say to go slow at first and work your self up that way it would he a lot easier on you if you want to learn faster