Business College
Answers
Answer 1
Answer:
RealGDP per capitais a measurement of the total economic output of a country divided by the number of people and adjusted forinflation.
Explanation:
I'm not sure if this is what you were looking for but this is my answer.
Related Questions
On June 10, Paid Company purchased $9,000 of merchandise from McGiver Company, terms 3/10, n/30. Paid Company pays the freight costs of $400 on June 11. Goods totalling $600 are returned to McGiver company for credit on June 12. One june 19, Paid Company pays McGiver Company in full, less the purchase discount. Both companies use a perpetual inventory system.
Required:
1. Prepare separate entries for each transaction on the books of Paid Company.
2. Prepare separate entries for each transaction for McGiver Company. The merchandise purchased by Pais Company on June 10 cost McGiver Company? $5,000, and the goods returned ost McGiver Company $310.
Answers
Answer:
In the books of:
Paid Company:
June 10:
Debit Inventory $9,000
Credit Accounts payable (McGiver Company) $9,000
To record the purchase of goods on account, terms 3/10, n/30.
June 11:
Debit Freight-in $400
Credit Cash $400
To record the payment of freight for purchased goods.
June 12:
Debit Accounts payable (McGiver Company) $600
Credit Inventory $600
To record the return of goods to supplier.
June 19:
Debit Accounts payable (McGiver Company) $8,400
Credit Cash $8,148
Credit Cash Discount $252
To record the payment on account.
McGiver Company:
June 10:
Debit Accounts receivable (Paid Company) $9,000
Credit Sales $9,000
To record the sale of goods on account, terms 3/10, n/30.
Debit Cost of goods sold $5,000
Credit Inventory $5,000
To record the cost of goods sold.
June 12:
Debit Sales returns $600
Credit Accounts receivable (Paid Company) $600
To record the return of goods on account.
Debit Inventory $310
Credit Cost of goods sold $310
To record the cost of goods returned.
June 19:
Debit Cash $8,148
Debit Cash Discount $252
Credit Accounts receivable (Paid Company) $8,400
To record the receipt of cash from customer.
Explanation:
a) Data and Analysis:
Paid Company:
June 10: Inventory $9,000 Accounts payable $9,000, terms 3/10, n/30.
June 11: Freight-in $400 Cash $400
June 12: Accounts payable $600 Inventory $600
June 19: Accounts payable $8,400 Cash $8,148 Cash Discount $252
McGiver Company:
June 10: Accounts receivable $9,000 Sales $9,000, terms 3/10, n/30.
Cost of goods sold $5,000 Inventory $5,000
June 12: Sales returns $600 Accounts receivable $600
Inventory $310 Cost of goods sold $310
June 19: Cash $8,148 Cash Discount $252 Accounts receivable $8,400
What is the role of incentives in the workplace?
Answers
Answer:
a way to keep workers motivated to do their job to the best of their ability. having something to look forward to.
Explanation:
Incentives are a great way to ensure that your employees stay motivated to do their job to the best of their ability. By offering something they can achieve if they hit a certain target or achieve something, they have something to work towards.
environmental factors that can directly affect your business
Answers
Answer:
Examples of environmental factors affecting business include:
Climate.
Climate change.
Weather.
Pollution.
Availability of non-renewable goods.
Explanation:
Hope it helps
Which of these is not a proper hand washing step apply soap and scrub for 20 seconds dry hands with a paper towel apply hand sanitizer for 20 seconds and screw the back of your hands and forearms
Answers
Answer:
Um I'm gonna have to say the part where you "screw the back of your hands and forearms"
Explanation:
Lol but for a real answer I'd have to say the last one, why would someone wash their hands to then put on hand sanitizer. They'd end up with some really dry hands.
Onslow Co. purchased a used machine for $144,000 cash on January 2. On January 3, Onslow paid $10,000 to wire electricity to the machine and an additional $2,000 to secure it in place. The machine will be used for six years and have a $17,280 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of
Required: 1. Prepare journal entries to record the machine's purchase and the costs to ready it for use.
Answers
Answer:
Dr Fixed asset $156,000
Cr Cash $156,000
Being entries to record the cost of the machine
Explanation:
The cost to wire electricity and secure the machine in place are part of the cost to make the machine available for use as such, these will be capitalized with the cost of purchase of the asset.
Capitalized cost of asset
= $144,000 + $10,000 + $2,000
= $156,000
A 1987 advertisem*nt in the New Yorker solicited offers on a 1967 Mercury Cougar XR7 (Motor Trend's 1967 car of the year) that had been stored undriven in a climate controlled environment for 20 years. If the original owner paid $4000 for this car in 1967, what price would he have to receive in 1987 to obtain a 10 percent annual return on his investment?
Answers
Answer:
You can put this solution on YOUR website!
A 1987 advertisem*nt in the New Yorker solicited offers on a 1967 Mercury Cougar XR7 (Motor Trend's 1967 car of the year) that had been stored undriven in a climate controlled environment for 20 years.
If the original owner paid $4000 for this car in 1967, what price would he have to receive in 1987 to obtain a 10 percent annual return on his investment?
---------
If the 10% is compounded yearly the price is as followed.
A(10) = 4000(1+(0.10/1))^(10*1)
---
A(10) = 4000(1.1)^10
---
A(10) = $10,374.97
======================
Cheers,
Stan H.
The selling of Busch Entertainment, a theme park unit that owns SeaWorld, by Belgium-based AB InBev after the acquisition of Anheuser-Busch by InBev to ensure a focus on AB InBev’s core business, is an example of:_______
a. franchising.taper
b. integration.
c. a diversification premium.
d. a principal–agent problem.
Answers
Answer:
no option is correct:
Both a and b refer to integration activities, and selling a business is not considered integration. Diversification premium refers to engaging in different types of businesses, which is exactly the opposite of what happened here. And the principal agent problem was included just to fill a blank space.
This would be an example of restructuring a business in order to focus in their core business activity.
You decide to go on a shopping spree. You make a purchase at Sears, and the cashiers says "Can I put your purchase on your Sears Card?" You reply "I don't have a Sears Card." The cashier asks you if you would like to apply for one. You say "Sure!" Throughout your shopping spree you purchase items at many different stores. At each of the stores this same scenario happens, the cashier asks you to apply for credit and you say yes. What will happen to your credit score?
A. It will decrease because of the number of times you have applied for credit.
B. It won't change at all because you were denied the credit card.
C. It will increase because of the number of times you have applied for credit.
Answers
Answer:
A and it can raise red flags for future creditors
Economics (9.7.iii): What is the change in consumer surplus due to opening up to trade? Input your answer in units of millions of dollars. Enter a negative number if consumer surplus decreases.
*need this answered before Monday*
Answers
Answer:
This is -22
Explanation:
The Gorman Group is a financial planning services firm owned and operated by Nicole Gorman. As of October 31, 20Y9, the end of the fiscal year, the accountant for The Gorman Group prepared an end-of-period spreadsheet, part of which follows:
The Gorman Group End-of-Period Spreadsheet
For the Year Ended October 31, 20Y9
Adjusted Trial Balance
Account Title Dr. Cr.
Cash $17,700
Accounts Receivable 38,530
Supplies 6,020
Prepaid Insurance 13,000
Land 137,000
Buildings 493,000
Accumulated Depreciation-Buildings 160,400
Equipment 356,000
Accumulated Depreciation-Equipment 208,900
Accounts Payable 45,570
Salaries Payable 4,520
Unearned Rent 2,050
Common Stock 205,000
Retained Earnings 380,780
Dividends 34,200
Service Fees 649,860
Rent Revenue 6,860
Salaries Expense 465,890
Depreciation Expense-Equipment 25,300
Rent Expense 21,200
Supplies Expense 14,990
Utilities Expense 13,550
Depreciation Expense-Buildings 9,030
Repairs Expense 7,460
Insurance Expense 4,090
Miscellaneous Expense 6,980
1,663,940 1,663,940
Required:
1. Prepare an income statement.
Prepare a statement of owner's equity (no additional investments were made during the year.)
Prepare a balance sheet.
2. Journalize the entries that were required to close the accounts at October 31. For a compound transaction, if an amount box does not require an entry, leave it blank.
3. If the balance of Nicole Gorman, Capital had instead increased $115,000 after the closing entries were posted and the withdrawals remained the same, what would have been the amount of net income or net loss?
Answers
Answer:
Income Statement
Revenue
Service Fees $649,860Rent Revenue $6,860 $656,720
Expenses:
Salaries Expense ($465,890)Depreciation Expense ($34,330)Rent Expense ($21,200)Supplies Expense ($14,990)Utilities Expense ($13,550)Repairs Expense ($7,460)Insurance Expense ($4,090)Miscellaneous Expense ($6,980) ($568,490)
Net income $88,230
Statement of owner's equity
Beginning common stock $205,000
Beginning retained earnings $380,780
Net income $88,230
Subtotal $674,010
Dividends ($34,200)
Ending balance common stock $205,000
Ending balance retained earnings $434,810
Dr Income summary 656,720
Cr Service Fees 649,860
Cr Rent Revenue 6,860
Dr Salaries Expense 465,890
Dr Depreciation Expense 34,330
Dr Rent Expense 21,200
Dr Supplies Expense 14,990
Dr Utilities Expense 13,550
Dr Repairs Expense 7,460
Dr Insurance Expense 4,090
Dr Miscellaneous Expense 6,980
Cr Income summary 568,490
Dr Retained earnings 88,230
Cr Income summary 88,230
Dr Dividends 34,200
Cr Retained earnings 34,200
Net loss = $60,970
Which of the following is true?
A. Attaining a passing score on the part of the Uniform CPA Examination that covers professional ethics is evidence of integrity and commitment to ethical conduct.
B. A professional accountant should resign his position rather than become involved in the distribution of financial statements indicating insolvency.
C. Federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors, but to management of the company as well.
D. The existence of generally accepted accounting principles (GAAP) eliminates the need for professional judgment except in very unusual circ*mstances.
Answers
Answer:
The answer is "Choice C".
Explanation:
The federal securities legislation governs its sales or offering of stock, investment management, the companies of some industry professional persons, investment companies like mutual funds, tender documents, proxy statements, and, more particularly, publicly-traded company control. It's not just the external directors, but also the managers of the organization apply to these rules mostly on the release of erroneous financial reports.
Uses the LIFO inventory method for external reporting and for income tax purposes but maintains its internal records using FIFO. The following disclosure note was included in a recent annual report:
Inventories ($ in millions):
2021 2020
Total inventories $800 $650
LIFO reserve (86) (65)
The company's income statement reported cost of goods sold of $3,750 million for the fiscal year ended December 31, 2021.
Required:
a. Drew adjusts the LIFO reserve (Allowance to Reduce Inventory to LIFO) at the end of its fiscal year. Prepare the December 31, 2013, adjusting entry to record the cost of goods sold adjustment.
b. If Drew had used FIFO to value its inventories, what would cost of goods sold have been for the 2013 fiscal year?
Answers
Answer:
A. Dr Cost of goods sold $21
Cr LIFO reserve $21
B.$3,729
Explanation:
A. Preparation of the December 31, 2021, adjusting entry to record the cost of goods sold adjustment.
Based on the information given in a situation were Drew adjusts the LIFO reserve at the end of its fiscal year which means that the December 31, 2021, adjusting journal entry to record the cost of goods sold adjustment will be:
Dr Cost of goods sold $21
($86 – 65)
Cr LIFO reserve $21
b. Calculation for what would cost of goods sold have been for the 2021 fiscal year
Cost of goods sold=$3,750 – $21
Cost of goods sold= $3,729
Therefore what the cost of goods sold could have been for the 2013 fiscal year is $3,729
Lucia enjoys eating jelly sandwiches and drinking soda. She is particular about proportions, though: For every jelly sandwich she eats, she must drink exactly one glass of soda, and vice versa. Lucia can purchase the jelly for her sandwiches in two jar sizes: 20 ounces and 40 ounces. Lucia cares only about the total amount of jelly she has available and not at all about the jar size. In other words, she's just as happy with two 20-ounce jars as she is with one 40-ounce jar.
In this scenario, jelly sandwiches and glasses of soda are:__________
Answers
Answer:
perfect complements
Explanation:
In the given situation as the two goods i.e. jelly sandwiches and drinking soda would be consumed in fixed proportions so they are classified as a perfect complements also their indifference curve would be L shaped
So according to the given scenario, both the goods would be classified as a perfect complements
With iOS, its particularly important for an app to minimize the persistent storage placed in the app's home directory. This is because of the following: if the user/device have enabled iCloud Backup, the home directory (persistent storage area) of every app on the device is backed up daily to iCloud. This would happen for your app even if the app itself does not explicitly use iCloud, and the files are stored using the default attributes.
a. True
b. False
Answers
Answer:In iOS, typically, apps store their data in a folder named Documents , that is saved in a location next to where the app itself is installed (†). It is important to note that you do not need a jailbroken phone to access this folder.
Explanation:
Question 3 of 10
A customer has a total purchase of $84.75. She hands the person at the
register four $20 bills, three $1 bills, six quarters, one dime, one nickel, and
five pennies. Which of the following is true?
A. The customer has paid the exact correct amount.
B. The customer has overpaid by $0.05.
C. The customer still owes $0.05.
o
D. The customer still owes $0.25.
Answers
Answer:
C. The customer still owes $0.05
Explanation:
Four $20 bills= $ 80
Three $1 bills= $3
Six quarters = $1.50
One dime = $0.10
One nickel= $0.05
Five pennies = $0.005
Total= $84.7
Answer:
Explanation:
The customer owes $0.05
At the end of the year, a company has a balance in Allowance for Uncollectible Accounts of $2,500 (debit) before any year-end adjustment. The balance of Accounts Receivable is $179,000. The company estimates that 6% of accounts receivable will not be collected over the next year.
Record the adjustment for uncollectible accounts. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Answers
Answer:
go on mathaway and scan the question it will solve it for you really easy
Journalize the following transactions for Miller Company using the gross method of accounting for sales discounts. Assume a perpetual inventory system. Also, assume a constant gross profit ratio for all items sold. Make sure to enter the day for each separate transaction.
December 6 Sold goods costing $3,000 to Patterson Company on account, $5,000, terms 2/10, n/30.
December 12 Patterson Company was granted an allowance of $300 for returned merchandise that was previously purchased on account. The returned goods are in perfect condition.
December 17 Received the amount due from Patterson Company.
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I Ik am so sorry I don’t know the answer 2:73 93&; 82!;8, 82!:83 Jan
Abraham’s Eatery uses a lunch box supplier that has a sales rep come by weekly to order boxes. Abraham wants a 98% service level. Abraham’s average daily demand is 100 lunches, with a daily standard deviation of 17 lunches. The lead time for lunch box purchases is 4 days. If there are 400 lunch boxes when the rep comes by, how many boxes should be ordered?
Answers
Answer:
T?he answer is A-There is not enough information to answer the question
Explanation:
what is the difference between hire purchase and differed payment?
Answers
Explanation:
In deferred payment, the borrower will agreed to pay certain amount of money on the promised date. ... In hire purchase, the purchaser will be getting the belongings without paying the full price of the item. The purchasers would make down payment and the balance is paid in installments.
Explanation:
Hire purchase is a system by which one pays for a thing in regular installments while having the use of it but deferred payments are payments that are completely or partially postponed for financial reasons
where can a master admin accountant user view the apps connected to a client's quickbook online accountant
Answers
Answer:
The answer is below.
Explanation:
A Master Admin accountant is responsible for creating the company file in QuickBooks Online and can provide approval and access to other users.
However, a Master Admin Accountant User can view the apps connected to a client’s QuickBooks Online account from within QuickBooks Online Accountant by doing the following:
1. Go to Settings
2. Click the Manage Users option.
3. Click the Accounting firms option.
4. Under the Company section, Click View Apps.
You are the general manager of a firm that manufactures personal computers. Due to a soft economy, demand for PCs has dropped 50 percent from the previous year. The sales manager of your company has identified only one potential client, who has received several quotes for 10,000 new PCs. According to the sales manager, the client is willing to pay $800 each for 10,000 new PCs. Your production line is currently idle, so you can easily produce the 10,000 units. The accounting department has provided you with the following information about the unit (or average) cost of producing three potential quantities of PCs:
10,000 PCs 15,000 PCs 20,000 PCs
Materials (PC components) $600 $600 $600
Depreciation 300 225 150
Labor 150 150 150
Total unit cost $1,050 $975 $900
Required:
Based on this information, should you accept the offer to produce 10,000 PCs at $800 each? Explain.
Answers
Answer:
Yes I would
Explanation:
We have these costs
Variable cost:
Materials = 600 dollars for each of component.
Labour is at a rate of 150 dollars each
For fixed cost depreciation = 300 dollars
Now we have to calculate the average variable cost
Cost of production of 1 pc + labour price of 1
= 600 + 150
AVC = 750
The sales price for each of the 10000 pc = 800 dollars
Now we can see that price p is greater than or equal to avc. 800 >=750
So the I have to accept to produce these pcs at the rate of 800 for 1 pc.
800-750 = 50
50x10000 = $500000 from the sale of the 10000 pcs
impact of strategy evaluation and control in gaining competitive advantage
Answers
Answer:
Explanation: For the better part of a decade, strategy has been a business buzzword. Top executives ponder strategic objectives and missions. Managers down the line rough out product/market strategies. Functional chiefs lay out “strategies” for everything from R&D to raw-materials sourcing and distributor relations. Mere planning has lost its glamor; the planners have all turned into strategists.
I need help with this Its really hard please help me!
Answers
Answer:
The answer is below
Explanation:
Going by the general biological terms and the definition is given, here the terms and their correct definitions
Prokaryotic - E cells have no membrane bound organelles
Eukaryotic - D cells have membrane bound organelles, especially a nucleus
Autotrophic - B can produce their own energy, usually by photosynthesis
Heterotrophic - H must get their energy from outside their bodies, usually by eating it.
Motile - A can move on their own
Sessile - C cannot move on their own
Unicellular - G made of only one cell
Multicellular - F made of more than one cell.
Harrison Ford Company has been approached by a new customer with an offer to purchase 10,000 units of its model IJ5 at a price of $3.90 each. The new customer is geographically separated from the company's other customers, and existing sales would not be affected. Harrison normally produces 75,000 units of IJ5 per year but only plans to produce and sell 60,000 in the coming year. The normal sales price is $12 per unit. Unit cost information for the normal level of activity is as follows:
Fixed overhead will not be affected by whether or not the special order is accepted.
Direct Materials $1.75
Direct Labor 2.50
Variable Overhead 1.50
Fixed Overhead 3.25
Total $9.00
1. What are the relevant costs and benefits of the two alternatives (accept or reject the special order)?
2. By how much will operating income increase or decrease if the order is accepted?
Answers
Answer:
For the special order the company will not incur any additional fixed cost as the special order is within the normal range of production.
Sales ( 10000 * 5 )50000
(-) Direct materials ( 10000 * 1.75 )17500
(-) Direct labor ( 10000 * 2.50 )25000
(-) Variable overhead ( 10000 * 1.50 )15000
Income / (loss)(7500)
Required 1 :
Answer : Reject
Required 2 :
Answer : Decrease by 7500
Conducting a search of the store is part of store closing duties. Why?
A. To look for empty boxes
B. To ensure that all trash has been removed
C. To make sure someone is not hiding
D. To make sure all merchandise in on the sales floor
O
SUM
Answers
Answer:
B
Explanation:
make sure that alk trash has been removed the shop is left clean
Pam always drives under the speed limit to her risk and keep insurance costs down. Even so, she got into an accident and filed a to cover the expenses of repairing her car. One of the costs of doing so was that her insurance would likely increase in the future.
answers:
1. reduce
2. claim
3. premiums
Answers
Answer:
1. reduce
2. claim
3. premiums
just realized u already knew the answers lol....
Answer:
reduce, claim, premiums
Explanation:
got it right on edge !! :)
true or false the majority of managerial communication is written in one form or another.
Answers
Explanation:
One form of verbal communication is called paralanguage.
True or False
False
The following is a list of prices for zero-coupon bonds of various maturities.
A. Calculate the yield to maturity for a bond with a maturity of (i) one year; (ii) two years; (iii) three years; (iv) four years. Assume annual coupon payments.
B. Calculate the forward rate for (i) the second year; (ii) the third year; (iii) the fourth year.
Maturity (years) Price of Bond
1 $936.78
2 926.47
3 831.12
4 777.49
Answers
I think it’s number 1 I’m not for sure but I think
Consider the following financial statement information for the Hop Corporation:
Item Beginning Ending
Inventory $16,284 $19,108
Accounts receivable 11,219 13,973
Accounts payable 13,960 16,676
Net sales $219,320
Cost of goods sold 168,420
Calculate the operating and cash cycles.
Answers
Answer:
Operating cycle = 59.29 days
Cash cycle = 26.1115 days
Explanation:
From the information given:
[tex]\text{Beginning Inventory \$16,284} \\ \\ \text{Beginning Accounts receivable 11,219} \\ \\ \text{Beginning Accounts payable 13,960} \\ \\ \text{Ending Inventory $19,108} \\ \\ \text{Ending Accounts receivable 13,973} \\ \\ \text{Ending Accounts payable 16,676} \\ \\ \text{Net sales \$219,320} \\ \\ \text{Cost of goods sold 168,420} \\ \\[/tex]
[tex]\text{Ending Inventory \$19,108} \\ \\ \text{Ending Accounts receivable 13,973} \\ \\ \text{Ending Accounts payable 16,676} \\ \\ \text{Net sales \$219,320} \\ \\ \text{Cost of goods sold 168,420} \\ \\[/tex]
To start with:
[tex]\text{Average inventory = } \dfrac{Beginning \ value +Ending \ value}{2} \\ \\ =\dfrac{ 16,284 + 19,108} {2} \\ \\ = \dfrac{35,392}{ 2} \\ \\ = \$17,696[/tex]
[tex]\text{Average receivable }=\dfrac{ Beginning value + Ending value }{ 2} \\ \\ =\dfrac{ 11,219 + 13,973 }{2} \\ \\ =\dfrac{ 25,192 }{ 2} \\ \\= \$12,596 \\ \\[/tex]
[tex]\text{Average payable }= \dfrac{Beginning \ value + Ending\ value}{ 2} \\ \\ = \dfrac{13,960 + 16,676 }{2} \\ \\= \dfrac{30,636}{2} \\ \\ = \$15,313[/tex]
[tex]\text{Days of inventory outstanding} = \dfrac{Average \ inventory }{ Cost \ of \ goods \ sold } \times 365 \\ \\ \dfrac{= 17,686}{ 168,420} \times 365 \\ \\ = 0.105\times 365 \\ \\= 38.329 \ days[/tex]
[tex]\text{Days \ of \ receivable \ outstanding }= \dfrac{Average \ receivable }{ sales }\times 365 \\ \\ \dfrac{= 12,596 }{ 219,320} \times 365 \\ \\ = 0.0574 \times 365 \\ \\= 20.951 \ days[/tex]
[tex]\text{Days of payable outstanding} = \dfrac{Average payable}{cost of goods sold} \times 365 \\ \\ = \dfrac{15,313 }{ 168,420} \times 365 \\ \\ = 0.0909 \times 365 \\ \\= 33.1785 days[/tex]
[tex]\text{Operating Cycle = Days of inventory outstanding + Days of receivable outstanding} \\ \\ = 38.339 + 20.951 \\ \\ = 59.29 days[/tex]
[tex]\text{Cash Conversion Cycle = Operating cycle - Days of payable outstanding} \\ \\ = 59.29 - 33.1785 \\ \\ = 26.1115 days \\ \\[/tex]
During the current year, Ron and Anne sold the following assets:
Capital Asset Market Value Tax Basis Holding Period
L stock $50,000 $41,000 > 1 year
M stock 28,000 39,000 > 1 year
N stock 30,000 22,000 < 1 year
O stock 26,000 33,000 < 1 year
Antiques 7,000 4,000 < 1 year
Rental home 350,000* 90,000 > 1 year
*$30,000 of the gain is 25 percent gain (from accumulated depreciation on the property).
Ignore the Net Investment Income Tax.
Given that Ron and Anne have a taxable income of $400,000 (all ordinary) before considering the tax effect of their asset sales, what is their gross tax liability for 2016 assuming they file a joint return?
Answers
The fact is I don’t know why you don’t want me a little more I think you should be able I do that I don’t know burier Urdu. Kgs 384 j
