The December 31, year 3 unadjusted (current) balance in allowance for doubtful accounts account (balance before expense recognition) for Omega Co. is $1,920.
How is the ending balance for allowance for doubtful accounts determined?The ending balance of allowance for doubtful accounts can be determined by recognizing the company's policy towards doubtful accounts.
Some companies use an estimate based on the accounts receivable, credit sales revenue, aging of receivables, etc.
Data and Calculations:Allowance for Doubtful Accounts:
Beginning balance $3,000
Accounts Write-off (2,000)
Ending balance $1,920 ($48,000 x 4%)
Bad Debts Expense $920 ($3,920 - $3,000)
Accounts receivable:
Beginning balance $60,000
Revenue earned = $200,000
Cash collected (210,000
Write-off of accounts (2,000)
Ending balance $48,000
Thus, the December 31, year 3 unadjusted (current) balance in allowance for doubtful accounts account (balance before expense recognition) for Omega Co. is $1,920.
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In what way can using a credit card be like getting an interest free loan?.
Using a credit card is similar to an interest free loan because it allows to pay ones balance off before one's card's introductory offer ends.
What is credit card?A credit card serves as a card that allows cardholders to borrow funds and it is been issued by bank or financial services company.
This card is similar to having interest free loan because one can actually pay off a parti balance before the end of a card's introductory offer.
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Grants are typically awarded based on
Answer:
Grants are awarded based on Demonstrated Financial Need. Demonstarted Financial Need is based on the cost to attend college as well as how much the family will contribute.
__________________________________________________________
Questions?Ask in the comments box.
What type of account is used to pay for daily expenses?.
Answer:
Checking accounts are used for everyday spending
Explanation:
The key features of this type of bank account are a linked debit card you can use for purchases or ATM withdrawals, as well as check-writing abilities. The account type also allows you to deposit cash or checks and pay bills.
In a situation where you cannot meet face to face with a coworker, who is responsible for making sure that your communication is easily understandable? a. your coworker is responsible b. you are responsible c. your supervisor is responsible d. none of the above is responsible
A coworker is a person who works with you in an organization at the same level. You are responsible for effective communication.
What is communication?Communication is the exchange of content, knowledge, or information from one source to another. Good and effective communication is needed between coworkers.
It helps in building bonds, better understanding, and helps in teamwork. To connect with distant coworkers one has to take the initiative.
Therefore, option b. you are responsible for effective communication.
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WILL GIVE BRAINLIEST!!!!!!
Your manager has been asked to speak to a community group about an upcoming development project that will be demolishing an old mall and building a mixed-use space with apartments, retail, and office space—a topic that has created some controversy in the community. She’s asked for your help in putting together her presentation. Do you think that a live or virtual presentation would be most effective? Why? What types of multimedia elements do you think would be most engaging? Why?
A live presentation would be more effective, as it generates more direct communication with the audience, which can increase empathy and persuasion about the topic.
How to create an effective presentation?It is essential that the speaker prepares himself in advance, to build a consistent and reliable argument, which manages to retain the attention of the spectators.
The use of multimedia elements, such as demonstration videos and slides can be positive to engage the public and generate greater objectivity on the subject.
Therefore, it is essential that in a presentation, the speaker uses elements that help to reduce resistance, such as an explanation of the benefits of an action, to create greater adherence to the proposed ideas.
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The project is going well. There is a scope change, and, as a result, a new team is brought in to assist the existing team in the new scope of the project. Upon arriving, the team asks to see where the the project currently stands. What do you show them
As a project manager, you should show the new team a Gantt chart, so as to convey information about where the project currently stands.
What is a Gantt chart?A Gantt chart can be defined as a type of bar chart that is typically used to graphically illustrate the amount of work done in certain periods of time and a project schedule, especially with information about the start and finish dates of a particular project.
Historically, Gantt chart was designed and developed by Henry L. Gantt in 1917. In this scenario, a Gantt chart should be shown to the new team, in order to convey information about the scope change and where the project currently stands to them.
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________________ economists place an emphasis on __________ run economic performance.
Neoclassical economists place an emphasis on Long run economic performance.
What is Neoclassical economics?Neoclassical economics is a type of economics that focuses on the amount of goods and services that is demanded to produce.
This theory believes that without quantity demanded, production of goods cannot be possible.
Therefore, Neoclassical economists place an emphasis on long run economic performance.
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Molly has a $2500 down payment saved for this purchase, and the dealer’s $1500 Cash Allowance will come straight off her total. How much loan does Molly need?
Molly selected the Latitude trim for her Patriot SUV and the total purchase price used for this example = $25,495.
Since Molly has $2,500 for a down payment, but $1,500 are needed to pay for expenses related to the car dealer, she will need to borrow = purchase price + dealer's cash allowance - Molly's down payment = $25,495 + $1,500 - $2,500 = $24,495
How much will Molly’s monthly payment be?
If she has a $2500 down payment saved and the dealer’s is $1500. Loan needed is $21,495 and monthly payment is $597.08.
Molly’s loan needed and monthly paymentMolly loan:
Molly Loan needed =$25,495-$2,500-$1,500
Molly loan needed=$21,495
Molly’s monthly payment:
Molly’s monthly payment =$21,495/36 months
Molly’s monthly payment=$597.08
Therefore Loan needed is $21,495 and monthly payment is $597.08.
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Stockholders’ equity consists of which of the following? Multiple Choice Long-term assets. Paid-in (or contributed) capital and retained earnings. Paid-in (or contributed) capital and par value. Retained earnings and cash. Premiums and discounts.
Stockholders’ equity consists of B. Paid-in (or contributed) capital and retained earnings.
What is stockholders' equity?The stockholders' equity can be computed as the addition of Paid-up capital, Additional Paid-in Capital, Retained Earnings, and minus Treasury Stock.
Alternatively, it can be computed as the difference between total assets and total liabilities.
Thus, Stockholders’ equity consists of B. Paid-in (or contributed) capital and retained earnings.
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Businesses that offer flexible hours allow their workers to arrive at work whenever they feel like it. please select the best answer from the choices provided t f
A flexible schedule permits an employee to work hours that deviate from the typical start and stop times of the organization.
Is it good to have a flexible schedule?Flexible employment is no longer limited to gig workers or freelancers; many "conventional" firms are also providing flexible schedules to their employees.
Flexible schedules help employees, and wise companies understand that giving flexible schedules benefits them as well. From being a green company to having a competitive advantage in recruitment and boosting diversity, the advantages of flexible work for businesses can help your organization stay ahead of the competition.
Thus, The statement is False.
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Which is not considered a risk management responsibility of the venue manager as they seek to minimize the risks in the event environment of their venue
The merchandise copyright insurance is a policy that will not be considered as a risk management responsibility of the venue manager.
What is a venue manager?These are manager that basically oversee the activities, employees and business associated with a concert facility.
The event certificate of insurance, proper contract administration, and Emergency and crisis management planning will be considered as a risk management responsibility when they seek to minimize the risks in the event environment of their venue.
Therefore, the Option C is correct.
Missing options "Event certificate of insurance, Proper contract administration, Merchandise copyright insurance, Emergency and crisis management planning"
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Sand Key Development Company has a capital structure consisting of $20 million of 10% debt and $30 million of common equity. The firm has 500,000 shares of common stock outstanding. Sand Key is planning a major expansion and will need to raise $15 million. The firm must decide whether to finance the expansion with debt or equity. If equity financing is selected, common stock will be sold at $75 per share. If debt financing is chosen, 7% coupon bonds will be sold. The firm's marginal tax rate is 34%. Determine the level of operating income at which Sand Key would be indifferent between debt financing and equity financing
The level of operating income at which Sand Key would be indifferent between debt financing and equity financing is: $5,675,000.
Indifferent between debt financing and equity financingFirst step
Number of new shares to be issued = 15,000,000/75
Number of new shares to be issued = 200,000 shares
Total number of shares if equity is issued =500,000+200,000
Total number of shares if equity is issued =700,000 shares
Second step
Total interest expense under Debt option=[(20,000,000×10%)+(15,000,000×7%)]
Total interest expense under Debt option=2,000,000+1,050,000
Total interest expense under Debt option=3,050,000
EPS under Equity option =(EBIT-2,000,000)×(1-0.34)/700,000
EPS under Equity option =(EBIT-2,000,000)×0.66/700,000
EPS under Debt option =(EBIT-3,050,000)×0.66/500,000
Third step
Indifference level operating income (EBIT)
(EBIT-2,000,000)×0.66/700,000 = (EBIT-3,050,000)×0.66/500,000
Solve for EBIT:
5×(EBIT-2,000,000) = 7×(EBIT-3,050,000)
2×EBIT = 7×3,050,000-5×2,000,000
2×EBIT=21,350,000-10,000,000
2×EBIT=11,350,000
EBIT =11,350,000/2
EBIT=$5,675,000
Therefore the level of operating income at which Sand Key would be indifferent between debt financing and equity financing is: $5,675,000.
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What is the purpose of the personal financial planning units within a bank? (select all that arwhelp people manage their moneyu provides comprehensive training to bank employeesincrease bank profitsmacustomer retention
Using your debit card responsibly will increase your credit score slightly, but less than using a credit card will.
The given statement is true that using the debit card responsibly will increase your credit score slightly, but less than using a credit card will.
What is credit card?A credit card is a payment card that is issued to users to inform them of their need to pay a merchant for goods and services based on their outstanding debt.
The credit score will rise slightly if a holder of a card use the debit card responsibly, but not as much as if you use a credit card.
Using of credit Card will increase the credit score, by demonstrating how you manage credit on a regular basis, credit cards are one of the finest strategies to establish credit and enhance your credit scores.
Therefore, the given statement is true.
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What effect did the cotton gin have on the south’s economy?.
A career path that involves horizontal movement within or across organizations is referred to as a(n) _____.
When a person moves horizontally within or across organizations, this is called a horizontal career growth.
What is a horizontal career growth?This is when someone moves across job titles from one company to another or within the same company.
It is called a horizontal move because the person will still be at the same job level that they were at the job they moved from.
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Given the following, compute the standard cost per widget. Direct materials per unit 4 pounds Direct material cost $1.25 per pound Direct labor per unit 1.5 hours Direct labor rate $10.00 per hour Variable overhead rate $4.00 per hour Multiple choice question. $11.00 $21.00 $26.00 $20.00
The standard cost per widget if Direct materials per unit 4 pounds and Direct material cost $1.25 per pound is: $26.00.
Standard cost per weightUsing this formula
Standard cost per weight=Materials+ Labor+ Overhead
Let plug in the formula
Standard cost per weight= (4 pounds × $1.25) + (1.5 hours × $10.00) +(1.5 hours × $4.00)
Standard cost per weight=$5+$15+$6
Standard cost per weight=$26
Therefore the standard cost per widget if Direct materials per unit 4 pounds and Direct material cost $1.25 per pound is: $26.00.
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A 3 year annual coupon bond has coupons of 10 per year starting 1 year from now and matures in 3 years for amount 100. The YTM for the bond is 11.8% effective annual. Find the macaulay duration for the bond
The information given shows that the macaulay duration for the bond will be 2.73.
How to calculate the macaulay duration?From the information, the annual coupon bond has coupons of 10 per year starting 1 year from now and matures in 3 years for amount 100 and the YTM for the bond is 11.8% effective annual.
The Macaulay duration for the bond will be:
= [3 × 100(1/1.18)³ + 10(1/1.18) + 2(1/1.18)² + 3(1/1.18)³] / [100(1/1.18)³ + 10(1/1.18) + (1/1.18)² + (1/1.18)³]
= 261.1/95.7
= 2.73
The macaulay duration for the bond is 2.73.
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Q Internal Cost Social Cost P 100 $40 $60 $80 200 $50 $70 $70 300 $60 $80 $60 400 $70 $90 $50 500 $80 $100 $40 600 $90 $110 $30 The market equilibrium occurs where price is ________ and quantity is ________.
Based on the table, we can infer that the equilibrium price for the market would be $60 and the equilibrium quantity would be 300 units.
Where does the market equilibrium occur?The market equilibrium would be at the point where the internal cost is equal to the price.
This point as shown on the table, is when the internal cost is $60.
The quantity at this point is 300 units which makes it the equilibrium quantity with a price of $60.
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Because it is needed for the schedule of expected cash collections, the annual master budget file includes the.
It should be noted that the annual master budget file includes the from last year.
What is a master budget?The master budget serves as the aggregation of all lower-level budgets produced that is been generated by company's various functional areas.
This encompass budgeted financial statements, and a financing plan.
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When investors doubt the creditworthiness of a borrower what should happen to the price?.
In 2020, Maggy (34 years old) is an employee of YBU Corp. YBU provides a 401(k) plan for all its employees. According to the terms of the plan, YBU contributes 50 cents for every dollar the employee contributes. The maximum employer contribution under the plan is 15 percent of the employee’s salary (if allowed, YBU contributes until the employee has contributed 30 percent of her salary). (Use Exhibit 13-2) a. Maggy worked for YBU Corporation for 3½ years before deciding to leave effective July 1, 2020. Maggy’s annual salary during this time was $45,000, $52,000, $55,000, and $60,000 (she only received half of her $60,000 2020 salary). Assuming Maggy contributed 8 percent of her salary (including her 2020 salary) to her 401(k) account, what is Maggy’s vested account balance when she leaves YBU (exclusive of account earnings)? Assume YBU uses three-year cliff vesting
Maggy’s vested account balance when she leaves YBU assume YBU uses three-year cliff vesting is: $21,840; $2,912.
Vested account balancea. Vested account balance
First step
Maggy contribution=[($45,000+$52,000+$55,000)+($60,000×50%)]
Maggy contribution=($152,000+$30,000)×8%
Maggy contribution=$182,000×8%
Maggy contribution=$14,560
Second step
YBU contribution=$14,560×50%
YBU contribution=$7,280
Third step
Vested account balance=$14,560+$7,280
Vested account balance=$21,840
b. Vested account balance
First step
Maggy contribution=[($45,000+$52,000+$55,000)+($60,000×50%)]
Maggy contribution=($152,000+$30,000)×8%
Maggy contribution=$182,000×8%
Maggy contribution=$14,560
Second step
YBU contribution=$14,560×50%
YBU contribution=$7,280
Third step
YBU contribution to maggy plan is 40%
Vested account balance=$7,280×40%
Vested account balance=$2,912
Therefore Maggy’s vested account balance when she leaves YBU assume YBU uses three-year cliff vesting is: $21,840; $2,912.
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If the price elasticity of supply for pickles is 2 and the price of pickles increases by 10 percent, then the quantity supplied of pickles will increase by
If the price of pickles increases by 10 percent, then the quantity supplied of pickles will increase by 20%.
Increase in quantity suppliedUsing this formula
Increase in quantity supplied=Price elasticity of supply for pickle×Increase in price of pickles
Let plug in the formula
Increase in quantity supplied=2×10%
Increase in quantity supplied=20%
Therefore If the price of pickles increases by 10 percent, then the quantity supplied of pickles will increase by 20%.
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Steps in growing a good business?
A.) Rush everything and spend everything.
B.) Save up but work half way.
C.) Become a Good leader and work and save up.
The economy has an impact on _____?
a.
which jobs are seasonal
b.
the reasons why workplaces are different
c.
employment and unemployment
d.
how strictly rules at work are enforced
Answer:
The economy has an impact on employment and unemployment.
Answer:
employment and unemployment
Will the government extend student loan forbearance.
oh your a rapper, huh?
rhyme orange with banana
Answer:
I'm not a rapper- but a writer.
Explanation:
So I shall try ^-^
I'm nothing small,
I'm nothing shy.
I like oranges, nanana,
You like bananas.
We're not the same,
we're nothing close.
Wow thats so bad.
Markets for individuals looking to buy products or services for personal or household use are called _____.
When an individual wants to buy goods and services for personal or household use, they can go to a Consumer Market.
What is a consumer market?This is a market where final goods and services are sold to consumers for their personal or household use.
Such a market includes all those who sell directly to consumers such as retailers, and food markets.
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In order to gauge attitudes about reports that its beef was barely meat, Taco Bell encouraged consumers to call a toll-free phone line and leave feedback. Taco Bell used _____ to measure public attitude.
By encouraging consumers to call a toll-free phone line and leave feedback about their products, Taco Bell used opinion sampling to gauge public attitude.
What are the advantages of opinion sampling?Through this telephone survey technique, TacoBell achieves faster completion of the survey, as well as being a more flexible and emotional method of identifying public attitudes.
Therefore, an opinion sampling is an effective way for a company to identify the perception in relation to its products and services, as well as to strengthen the relationship with the consumer.
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Taylor Swift Corporation purchases a patent from Salmon Company on January 1, 2020, for $54,000. The patent has a remaining legal life of 16 years. Taylor Swift feels the patent will be useful for 10 years. Prepare Taylor Swift's journal entries to record the purchase of the patent and 2020 amortization. Assume that at January 1, 2019, the carrying amount of the patent on Taylor Swift's books is $43, 200. In January, Taylor Swift spends $24,000 successfully defending a patent suit. Taylor Swift still feels the patent will be useful until the end of 2026. Prepare the journal entries to record the $24,000 expenditure and 2019 amortization.
A) The journal entries to record the purchase of the patent and its 2020 amortization for Taylor Swift are as follows:
January 1, 2020 Debit Patent $54,000
Credit Cash $54,000
To record the purchase of the patent.December 31, 2020
Debit Patent Amortization Expense $5,400
Credit Accumulated Amortization $5,400 ($54,000/10)
To record the amortization expense for the year.B) The journal entries to record the $24,000 expenditure and 2019 amortization for Taylor Swift are as follows:
January 1, 2020 Debit Patent $24,000
Debit Cash $24,000
December 31, 2020 Debit Patent Amortization Expense $6,720
Debit Accumulated Amortization $6,720
Data and Calculations:A) Cost of patent = $54,000
Estimated useful life = 10 years
B) Carrying value of patent = $43,200
Cost of defending patent = $24,000
Transaction Analysis:A) January 1, 2020 Patent $54,000 Cash $54,000
December 31, 2020 Patent Amortization Expense $5,400 Accumulated Amortization $5,400 ($54,000/10)
B) January 1, 2020 Patent $24,000 Cash $24,000
December 31, 2020 Patent Amortization Expense $6,720 Accumulated Amortization $6,720 ($43,200 + $24,000/10)
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Answer:
Her journal entries in 2020 would be Folklore & Evermore Lyrics
Explanation:
yes
