During january 2016, wells corporation purchased $200,000 of inventory; they paid one-fourth in cash, and signed a note for the remaining balance.
Answers
The proper statement is that as of the date specified in the journal entries for the acquisition of the inventory, the inventory will be debited and the cash and payables accounts will be credited.
What are journal entries?Journal entries are the financial transactions of a firm that are recorded in the organization's books in the order that they first appear.
Please refer to the graphic below, which includes the journal entries and their consequences as well as a description of the transaction and the event as well as the necessary amounts.
There will be a $200,000 debit in the inventories account, a $500,000 credit in the cash accounts, and a $150,000 credit in the accounts for bills payable in Wells Corp.'s books.
Therefore, the proper statement is that as of the date specified in the journal entries for the acquisition of the inventory, the inventory will be debited and the cash and payables accounts will be credited.
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Complete question:
In January 2016, Wells Corporation purchased $200,000 of inventory; they paid one-fourth in cash, and signed a note for the remaining balance. This transaction will be recorded as:
Related Questions
Which economic system has the most regulations?
Answers
Command economy has the most regulations.
A command economy is one in which the government controls the production and pricing of products and services. In a command economy, also known as a planned economy, the government selects which commodities and services to create, how they are produced and distributed, and how much they cost.
The central planner is the government. There is no competition in a command economy because the government sets and controls all aspects of business. Monopolies controlled by the government are prevalent. These could include financial services, utilities, or even transportation firms.
Because it is difficult for one organization (i.e., the government) to realize the requirements of everyone in the country, command economies frequently produce too much of one thing and not enough of another. As a result, a command economy frequently results in significant surpluses or shortages of goods and services.
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How many coins are in a nickel?.
Answers
A nickel is a five-cent coin of the United States, hence only 1 coin which is worth 5 cent in a nickel.
The penny, nickel, dime, and quarter are the four most frequent coins. They are individually worth varying sums of money and have distinct physical characteristics that can be distinguished by touch.
The nickel is the five-cent coin of the United States. Thomas Jefferson, our third president, is depicted on the obverse (heads) of the nickel. Although the current portrait is from 2006, he has been on the cent since 1938.
A penny = 1 cent.
A nickel = 5 cents.
A dime = 10 cents.
A quarter = 25 cents.
A nickel is a five-cent coin, hence, only 1 coin in a nickel.
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the effect of a fuel tax on the quantity of gasoline sold
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A fuel tax increases the price of gasoline, which leads to a decrease in the quantity of gasoline sold.
B. When the price of gasoline increases as a result of a fuel tax, consumers will naturally purchase less of it. This is because as the price of a good increase, the quantity demanded of that good decreases, according to the law of demand.
Additionally, a higher fuel tax may encourage consumers to use more fuel-efficient vehicles or to carpool, which would also decrease the quantity of gasoline sold.
Furthermore, some consumers may switch to alternative forms of transportation such as public transportation, walking or biking which would also decrease the quantity of gasoline sold.
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shemar performs planning, organizing, leading, and controlling functions for his organization, so he should be considered a manager. true or false
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The sentence "Shemar should be regarded a manager because he performs planning, organizing, leading, and managing functions for his organisation." is True.
Setting objectives, creating strategies, and laying out tasks and timelines are all parts of the planning process. To accomplish the goals, organising entails allocating resources and assigning duties. Working as hard as you can can help you attain your organisational goals.
The act of leading involves inspiring and encouraging people to cooperate in order to accomplish the desired results. Monitoring performance and taking corrective action to ensure that the objectives are being met is the process of controlling. The caliber of your work will determine whether you receive a promotion.
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How many overdraft fees can be charged?.
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we have several items to add to a lake tahoe itinerary, including a trip to gar woods grill and pier. what famous drink do we tell you to ask the waiter for at this popular waterfront restaurant?
Answers
We have various items to add to a lake Tahoe itinerary, such as a trip to gar woods grill and pier. The famous drink we tell you to ask the waiter for at this popular waterfront restaurant is Wet Woody.
The Wet Woody is a frozen, blended drink made with light rum, cranberry juice, pineapple juice, orange juice, sweet and sour, and peach schnapps with a Bacardi Select float. The Wet Wood drink is considered to be a Tahoe icon.
Thus, the Wet Woody is the famous drink item at Tahoe's popular beachfront restaurant, which is a must-ordered drink item.
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Competition in the 21st century is no longer between companies; it is between: A) Talented employees B) Ethical employees C) Quality Control D) Supply Chain E) Managers
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Competition in the 21st century is no longer between companies; it is between D) Supply Chain.
In the 21st century, competition is no longer about who has the best products or services, but about who has the most effective supply chain.
Companies that have a well-organized supply chain are able to get their products to the customer faster and more efficiently than their competitors. Having a strong supply chain can give businesses a competitive edge in the market and help them build long-term success.
Companies need to focus their efforts on developing and optimizing their supply chain strategies in order to remain competitive in today's market.
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Need help asap asap
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The balance sheet on June 30 would be:
Cash = $80,000
Accounts receivable = $20,000
Prepaid account = $12,000
Total Current Asset = $112,000
Plant, Property and Equipment = $800,000
Intangible asset = $66,000
Other Non-Current Asset = $100,000
Total Non Current Asset = $966,000
Total Assets = $1,078,000
Loan to K. Phillips = $100,000
Accounts Payable = $65,000
Other Current Liabilities = $85,000
Total Current Liabilities = $250,000
Notes payable = $120,000
Total Long-term Liabilities = $120,000
Total Liabilities = $370,000
Common stock = $45,000
Retained earnings = $663,000
Total Equity = $708,000
Total Liabilities and Equity = $1,078,000
Based on the data given, the trial balance prepared was constructed under personal account. We have to make some adjustment in the accounts to prepare the balance sheet in the order of permanence.
Capital account reflects the different between assets and liabilities of a company. Then, we need to find the total asset on June 30.
Total Asset = Capital + net profit/loss - Drawings + Liabilities
Total Asset = $721,000 + (- $9,000) - $4,000 + ($250,000 + $120,000)
Total Asset = $1,078,000
Total Asset consists of both current and non current asset. Using the data given, we can find that:
Total Asset = Cash + Prepaid Accounts + PPE + Intangile asset + Accounts Receivable + Other Non current Asset
$1,078,000 = $80,000 + $12,000 + $800,000 + $66,000 + $20,000 + Other non-curret asset
Other non-current asset = $100,000
Next, we assume that all amount under creditors account represent the short-term liabilities and bank account refers to long-term liability. Hence we can find the amount under accounts payable is:
Creditors = Loan K. Phillips + Short-term liabilities + Account Payable
$250,000 = $100,000 + $85,000 + Accounts payable
Accounts payable = $65,000
The amount under banks account will be recorded under Notes Payable on the balance sheet.
We will use the ending amount of stock as the common stock price. Hence, we need to calculate the Retained Earnings account to balance the account.
Total asset = Total liabilities & Equity
Total asset = Total liabilities + Total equity
Total asset = Total liabilities + Common stock + Retained earnings
$1,078,000 = $370,000 + $45,000 + Retained earnings
Retained earnings = $663,000
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What is the best definition of free enterprise?.
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The free market, often known as free enterprise, is an economic system in which the government is replaced by the market in determining the costs of goods, services, and prices. Government oversight of companies and services is absent.
With no restrictions from the government and the ability to operate as private firms with the potential to generate a profit, the free enterprise system gives people the power to manage their own finances. A free enterprise system is characterised by private property, economic freedom, financial incentives, competitive marketplaces, and a minimal role for the government. In a free-market economy, firms fight for customers and profits with little to no oversight from the government.
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During civil lawsuit proceedings regarding alcohol service, courts will try to determine if the
designated driver was present and remained sober. guest's BAC was checked throughout the evening. server recently attended proper alcohol training, server contributed to the injury.
Answers
Courts will attempt to ascertain if the designated driver was there and stayed sober throughout civil lawsuit proceedings over alcohol service.
A lawsuit is a legal action brought by one or more plaintiffs or claimants against one or more defendants. Only a limited number of laws from long ago that are still in force include the phrase "suit in law." The term "lawsuit" refers to a civil action that is launched by a plaintiff—a party who alleges that they have suffered loss as a result of the defendant's actions—and in which the plaintiff asks the court for either a legal remedy or an equitable remedy.
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If d0 = $1. 75, g (which is constant) = 3. 6%, and p0 = $32. 00, what is the stock's expected total return for the coming year?.
Answers
9.45%. is the stock's expected total return for the coming year.
What is Dividend Growth Model?The dividend growth model estimates the present stock price by discounting predicted future dividends from the stock, which is supposed to increase at a constant pace. The dividend growth model is a mathematical method that investors can use to calculate a realistic fair value for a company's stock based on its present payout and predicted dividend growth in the future. The dividend discount model is a technique used in finance and investment to determine the value of a company's stock by calculating how much all of its future dividend payments, discounted to their present value, are worth.Explanation:
As per the data:
D0 = $1.75
Constant growth rate, g = 3.6%
P0 = $31
Expected return, r =?
Computation:
As per the dividend growth model:
r = (D1 / P0) + g
r = ($1.81 / $31) + 3.6%
r = 9.45%
Working note:
D1 = D0 * (1 + g)
D1 = $1.75 * (1 + 3.6%)
D1 = $1.81
The complete question is,
If DO = $1.75, g (which is constant) = 3.6%, and PO = $31.00, what is the stock's expected total return for the coming year?
a. 9.45%
b. 10.87%
c. 7.75%
d. 9.64%
e. 10.49%
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The stock is projected to have an annual total return of 9.45%.
Describe the dividend growth model.
The dividend growth model, which assumes that future dividends will increase steadily, calculates the current stock price by discounting anticipated dividends from the stock.
The dividend growth model is a mathematical technique that allows investors to determine a reasonable fair value for a company's stock based on its current payout and anticipated dividend growth in the future.
The value of a company's stock is calculated using the dividend discount model, a method used in finance and investment, by calculating the present value of all of the company's future dividend payments.
As per the data:
D0 = $1.75
Constant growth rate, g = 3.6%
P0 = $31
Expected return, r =?
Computation:
As per the dividend growth model:
r = (D1 / P0) + g
r = ($1.81 / $31) + 3.6%
r = 9.45%
Working note:
D1 = D0 * (1 + g)
D1 = $1.75 * (1 + 3.6%)
D1 = $1.81
The complete question is,
If DO = $1.75, g (which is constant) = 3.6%, and PO = $31.00, what is the stock's expected total return for the coming year?
a. 9.45%
b. 10.87%
c. 7.75%
d. 9.64%
e. 10.49%
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The angle of elevation to the top of a building in New York i found to be 9 degree from the ground at a ditance of 1 mile from the bae of the building. Uing thi information, find the height in of the building in feet. (rounded to the tenth)
Answers
The height of the building in Feet is 839.52 ft and in Miles is 0.159 miles, obtained by using the Equation:
x = 1*tan(9º) = 0.159 miles.
This problem can be set up as a right triangle where the tall side (height of the building) is an unknown variable (x) and the base of the triangle is 1 mile. The angle opposite of the tall side, x, is 9 degrees.
Now you can use the tangent trig function whereby tan(angle) = opposite length /adjacent length. opposite length is x, The adjacent length is 1 mile, angle is 9 degrees.
tan(9º) = x / 1
Rearrange for x;
x = 1*tan(9º) = 0.159 miles.
(make sure to use degree mode on your calculator when calculating the tangent)
Now to get feet, just multiply by 5,280 ft in one mile.
The height of the building is 0.159 miles * 5280 ft/mile
The height of the building is = 839.52 ft
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A strategy for reducing resource consumption through decreased demand and increased efficiency.
Answers
A strategy for reducing resource consumption through decreased demand and increased efficiency Conservation. So answer is Conservation.
How does conservation work?The sources from which we can gain advantages are the resources.
Although some resources are scarce, we must nevertheless use them wisely because they are only available in certain quantities. Conservation refers to this method of wise resource usage. Utilizing the resources in a way that will allow for both efficient usage in the present and the future is the goal of conservation strategy. The conservation plan therefore emphasizes prudent resource management.
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why were no federal taxes withheld from my paycheck
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evaluate whether russia’s economic modernization in the nineteenth century was motivated primarily by internal or by external factors.
Answers
The economic modernization of Russia in the 19th century depended on the combination of both factors, both internal (State) and external (Foreign Capital).
Modernisation has been a recurring motif in Russian history at this point since Paul the Great initiated a series of programs aimed at closing the financial, technological and social gap among both Russia and the more 'advanced' countries of Europe. All of the rulers of the Soviet Union and post-Soviet Russia were acutely aware of this gap and pursued a variety of modernization strategies, some more successful than others. However, it would be incorrect to regard modernisation as a deterministic process reserved solely for the state. Modernization has had significant effects on Russian society, and the perceptions of various social groups have been critical to modernisation's success or failure
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What are the two main reasons researchers use factorial designs?
Answers
The use of factorial designs enables researchers to examine the impact of several independent variables on a dependent variable as well as any potential interactions between various independent variables.
What are the responsibilities of a researcher?
As part of their job, researchers must analyze data, gather and compare resources, verify facts, communicate findings to the entire research team, follow established techniques, conduct necessary fieldwork, and maintain the confidentiality of sensitive information.
a person who researches a topic, especially to learn new facts or come to new conclusions: a political or television researcher.
To become a research scientist, you typically require a first- or 2:1 (upper second-class) degree in a science-related field. Most research scientists continue their education to earn a postgraduate degree, like a PhD. You may research an integrated
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What is a characteristic of certificates of deposit CDs )?.
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A CD, or certificate of deposit, has a set interest rate that is often higher than the interest on on a standard savings account.
It also has a predetermined withdrawal date, or maturity date, and a predetermined term end date. You lock money in a CD for an amount of time that normally varies from three months to five years.
In the US, banks, thrifts, and credit unions typically offer certificates of deposit (CDs), a sort of time deposit. Certificates of deposit (CDs) and savings accounts differ from one another since a CD frequently has a fixed interest rate and a predetermined length of time (commonly one, three, or six months).
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Select the four principles that underlie the strategic marketing process.
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The four principles that underlie the strategic marketing process are market orientation, market segmentation, product differentiation and market positioning.
1. Market Orientation: Companies need to have a customer-centric approach to marketing and be willing to adjust their marketing strategies to meet customer needs. This means that companies should focus on understanding their target audience, developing an effective positioning strategy, and building relationships with customers.
2. Market Segmentation: Companies should divide their markets into distinct groups of customers who have similar needs and preferences. By understanding different customer segments, companies can tailor their offerings to meet their needs.
3. Product Differentiation: Companies should differentiate their products and services from those of their competitors in order to stand out in the marketplace. This can be achieved through innovation, pricing strategies, and marketing tactics such as advertising and promotions.
4. Market Positioning: Companies should position their products and services in the minds of their target customers in order to gain a competitive advantage. This requires a clear understanding of the competition and the ability to communicate a unique message that resonates with customers.
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Sarah makes $43,000 per year, is single, and lives in connecticut. She has $19,000 in direct subsidized loans and $8000 in direct unsubsidized loans.
Answers
The repayment plan will be the cheapest for her in total is Standard repayment plan.
A standard repayment plan is an amortization schedule in which he pays a fixed monthly amount for 10 years.
This makes a total of 120 payments. The standard repayment plan has the advantage of accruing less interest and making payments over a shorter period of time than the federal repayment plan.
Because unsubsidized loans pay higher interest than subsidized loans, Sarah has to pay off the unsubsidized loan first. This minimizes interest payments.
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Complete question:
SARAH makes $43,000 per year, is single, and lives in Connecticut. She has $19,000 in subsidized loans and $8000 in unsubsidized loans. Which repayment plan will be the cheapest for her in total?
What is Accenture's role in multi party systems practice?.
Answers
Accenture Blockchain and Multiparty Systems specializes in supply chain, digital identity and financial services. In each of these domains, we have built incredible foundational capabilities, confirmed proofs of value, and helped business ecosystems implement the first wave of multiparty systems.
About AccentureAccenture is a leading global professional services company that helps the world's leading businesses, governments, and other organizations build their digital core, streamline operations, accelerate revenue growth, and improve people's services -- creating real value at scale and speed.
They are a talented and innovative company with 738,000 employees serving customers in more than 120 countries. Technology is at the heart of today's transformation, and we are a global leader in driving that transformation with strong ecosystem relationships.
They combine our technological strengths with unmatched industry experience, operational know-how and global delivery capabilities. With our range of services, solutions and resources across Strategy and Consulting, Technology, Operations, Industry X and Accenture Track, we are uniquely positioned to deliver real results.
These qualities, together with a culture of mutual success and a commitment to 360° value creation, allow us to help our clients thrive and build trusting and lasting relationships. They measure our success by the 360° value we create for our customers, each other, shareholders, partners and our community.
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The types of accounts which affect retained earnings are:
(Select all that apply)
Liabilities
Dividends
Assets
Revenues
Expenses
Answers
The amount of profit a business keeps after paying all of its direct and indirect expenses, income taxes, and dividends is known as retained profits.
Does accounts receivable have an impact on retained profits?Any accounting method can be used to produce a retained earnings statement. The main distinction is that since neither is utilized in cash accounting, balances for accounts receivable and payable would not be included in the formula.
What three things make up retained earnings?The beginning period retained earnings, net profit or net loss realized during the accounting period, and cash and stock dividends paid during the accounting period are the three elements that make up retained earnings.
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It is the function of the _____ to take the strategic plan and develop actionable short-term goals that a business can achieve.
A. tactical plan
B. mission statement
C. vision statement
D. operating plan
Answers
Option d: Operating plan. It is the function of the operating to take the strategic plan and develop actionable short-term goals that a business can achieve.
Operations planning (OP) is the process of planning from strategic goals and objectives to technical goals [must be explained] and objectives.
Describe milestones, conditions for success, and explain what and how parts of the strategic plan will be implemented during a specific period of operation, fiscal year of commercial use, or other specific budget period To do.
The Operating Plan is the basis and basis for the annual operating budget request. Therefore, a five-year strategic plan typically requires five operational plans funded by five operational budgets.
The operational plan should define the activities and budgets for each part of the organization for the next one to three years.
They relate the strategic plan to the activities the organization undertakes and the resources needed to do so.
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Efficiency means our economic pie is divided into equal slices. True False
Answers
The statement 'efficiency means our economic pie is divided into equal slices' is false as due to efficiency there is a difference in economies.
In today's economy, efficiency does not always mean that our economic pie is divided into equal slices. Instead, efficiency often leads to an unequal distribution of resources, where one group of people or businesses may benefit more than another.
This means that even though the overall productivity of the system may be higher, the rewards are not equally shared.
This can create a system in which some individuals or businesses have an advantage over others, leading to uneven economic growth. As such, efficiency does not always mean that the economic pie is divided into equal slices.
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Why is it important to identify ownership or possession?.
Answers
Explanation:
It can help them keep connected to the past whilst providing a link to the generations to come by providing something unique that distinguishes the family. Ownership also creates a sense of respect, limitation of its use from others, possession of authenticity and in many ways creates power.
what worldwide economic crisis took place prior to world war 2?
Answers
The concept is Economic crisis, a variety of situations in which some financial assets suddenly lose value. The answer is the Great Depression.
Ironically, it was World War II, due in part to the Great Depression, that pulled the United States out of a decades-long economic crisis. The Great Depression contributed to dire economic conditions in Weimar Germany, leading in part to the rise of Adolf Hitler and the Nazi Party.
In the United States, the effects of the crash reinforced and reinforced restrictive American immigration policies. An economic crisis represents a situation where a country's economy suddenly loses strength, a decline usually caused by a financial crisis.
An economic crisis can take the form of economic stagflation, recession, or depression. As government spending dried up, the economy plunged into a severe recession and GDP fell by 11%.
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the globalization of _____ is the term used to describe the merging of national markets into one large global place.
Answers
Answer: The globalization of markets is the term used to describe the merging of national markets into one large global place.
Explanation:
Economic "globalization" is a process of evolution that is the outcome of human ingenuity and technical advancement. It refers to the increasing globalization, particularly the flow of products, services, and capital across borders. The phrase is also used to describe the flow of individuals (labor) and information (technology) across international borders. Globalization has larger cultural, political, and environmental implications.
The term "globalization" became more popular in the 1980s, reflecting technological improvements that made international transactions—both commercial and financial flows—easier and faster to perform. It refers to an expansion of the same market pressures that have existed for centuries at all levels of human economic activity—village markets, metropolitan sectors, or financial centers—beyond national lines.
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What type of economic system has a command economy?.
Answers
Answer: Communist political parties
Explanation: First of all, what is a command economy? A command economy is an economy in which production, investment, prices, and incomes are determined centrally by a government. And if we know that communist countries such as China and North Korea have an economy, we can infer that these countries have command economies because the government has full control over the economy. I hope this helped!
What are three big differences between banks and credit unions?.
Answers
Credit unions are not focused on making a profit as much as banks are, so they are able to offer their members lower fees, better interest rates on loans and higher yields on savings.
A bank is a sort of financial organisation that accepts deposits from the general public, makes demand deposits, and loans money. Since banks are crucial to a nation's financial stability and economic health, they are often subject to strict supervision.
Proportional reserve banking, in which banks keep liquid assets that are only partially comparable to their present commitments, has become institutionalised in the majority of nations. In addition to extra constraints to ensure liquidity, banks are frequently subject to minimum capital requirements based on the Basel Agreement, an international capital rule set.
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what does a business typically receive when it issues stock to owners?
Answers
Stock certificates is a document that received by a business when it issues stock to owners. Stock certificates containing several information, such as the number of shares owned, the date of purchase, a corporate seal, and other.
In business and corporate law, a stock certificate generally can be defined as a legal document that certifies the legal interest of ownership of a specific number of shares or stock in a corporation. A stock certificates also can be defined as a documents that proves the holder has ownership in the company, as it displays the number of shares owned, the date of purchase, a corporate seal, and other
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which of these is known as the greatest danger associated with excavations?
A.)Asphyxiation
B.)Cave-ins
C.)Fire
D.)Underground utility lines
Answers
B.) Cave-in is known as the greatest danger associated with excavations.
Excavation Safety is a standardized set of safety measures for trenching and excavation designed to get rid of dangers and manage risks while still adhering to laws. Trenching and Excavation Safety is another name for it, according to the U.S. Occupational Safety and Health Administration (OSHA).
Among the riskiest tasks in the construction sector are trenching and excavation. Risks can include cave-ins, falling objects, dangerous environments, and risks associated with employing large machinery. Hazards and serious injury risk can be decreased through routine pre-work inspections. Inspections for safety should look at the kind of excavation being done, the support and warning systems in place, the access points, the weather, the heavy machinery, and PPE.
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