A dealer of pre-owned carsb. The appropriate response to the question is (a).
What is Uniform commercial code (ucc)?A uniform collection of rules and laws for conducting business is known as the Uniform Commercial Code (UCC). It was getting more and harder for enterprises to conduct business across state lines due to the various state regulations. As a result, the UCC code was developed in 1953.
The Uniform Commercial Code (UCC), which offers a uniform legal and contractual framework, is significant because it enables business transactions between entities located in several states. Personal property sales as well as a number of other transactions are governed by UCC legislation.
To know more about Uniform commercial code, visit:
https://brainly.com/question/29376274
#SPJ1
Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $2 par value. During its first year, the following selected transactions were completed: Issued 6,900 shares of common stock for cash at $29 per share. Issued 2,900 shares of common stock for cash at $32 per share.
Question 1:Prepare the journal entry required for each of these transactions.
Question 2:Incentive Corporation has $39,000 in the companyâs bank account. At year-end, the accounts reflected a profit of $100. What is the maximum amount of cash dividends the company can declare and distribute?
It was permitted for Incentive Corporation to distribute 12,000 ordinary shares of stock, each of which was a $2 par value. Total Stockholders' Equity in the first year was $127,500.
What kind of motivation comes to mind?Rewards and perks are used as incentives to encourage positive workplace habits. They take many different shapes, including paying for college expenses, giving employees extra time off, and offering more flexibility in how they work.
Briefing
Incentive Corporation
A. Assets = Liabilities + Stockholders’ Equity
M a. Assets (Cash +$129,600 )= Liabilities + Stockholders' Equity (Common stock +$5,400 and Additional Paid-in Capital $1124,200)
b. Assets (Cash +$37,800 )= Liabilities + Stockholders' Equity (Common stock +$1,400 and Additional Paid-in Capital $36,400)
B. Journal Entries:
Debit Cash $129,600
Credit Common stock $5,400
Credit APIC $124,200
To record the issuance of 5,400 shares of common stock for cash a\$24.
Debit Cash $37,800
Credit Common stock $1,400
Credit APIC $36,400
To record the issuance of 1,400 shares of common stock for cash at $27.
C. Journal Entries:
1. Debit Cash $107,100
Credit Common stock $10,200
Credit APIC $96,900
To record the issuance of 5,100 common stock shares with $2 par value for $21 per share.
2. Debit Cash $26,400
Credit Common Stock $2,200
Credit APIC $24,200
To record the issuance of 1,100 common stock shares with $2 par value for $24 per share.
3. Stockholders' Equity
INCENTIVE CORPORATION
Balance Sheet (Partial)
At December 31
Stockholders’ Equity
Contributed Capital:
Common Stock $6,200
Additional Paid-in Capital 121,100
Total Contributed Capital $127,300
Net income 200
Total Stockholders’ Equity $127,500
4. The maximum amount of cash dividends that Incentive Corporation can declare and distribute is $200, despite having $49,000 in the bank account.
To know more about motivation visit:
https://brainly.com/question/148601
#SPJ4
new entry into markets, whether by start-ups or by incumbent firms, rarely threatens existing competitors. True or False?
False, Existing competitors are rarely threatened by new market entry, whether it comes from startups or established companies. Any individual who engages in business but is not an affiliate of a loan party is considered a competitor.
Competitive rivalry is a gauge of how fiercely existing firms compete with one another. Competitive activities like price lowering, higher advertising costs, or investing on service/product innovation and improvements can reduce profits and foster competition. Businesses who are new to your market are new entrants. Your power is impacted by other people's capacity to access the market. When there are limited economies of scale, no knowledge intensity, low entry costs, and no protection of critical technologies, new competitors can readily enter your market. These companies compete in the same market by providing comparable (or identical) goods and services. They compete for the same clientele as well. Examples of direct competitors that are well-known are Apple and Android, Pepsi and Coca-Cola, and Netflix and Hulu.
Learn more about Existing competitors here
https://brainly.com/question/13171153
#SPJ4
which sentence is grammatically correct? my work plan schedule states that on february, 16 2009, i will have completed the following tasks for my annual report, gathering secondary and primary data, accurately recording publication information, and matching graphics with my objectives. my work plan schedule states that on february, 16 2009 i will have completed the following tasks for my annual report; gathering secondary and primary data, accurately recording publication information, and matching graphics with my objectives. my work plan schedule states that on february 16, 2009, i will have completed the following tasks for my annual report: gathering secondary and primary data, accurately recording publication information, and matching graphics with my objectives.
According to my work plan schedule, I will have finished the aforementioned activities for my annual report by February 16, 2009: collecting secondary and primary data, precisely recording publication information, and matching graphics with my objectives.
As interim milestones, the work plan schedule must provide the due dates for significant activities and deliverables. Unless the project managers agree differently, milestones must be determined according to the needs of the work to be done, with at least one milestone every twelve months.
What distinguishes a work plan from a schedule?These two ideas are distinguished from one another, nevertheless, by a few key distinctions. The primary distinction between planning and scheduling is that planning establishes what work has to be done and how much of it. whereas scheduling establishes who will do the procedures and when.
To know more about work plan schedule visit:-
https://brainly.com/question/14982584
#SPJ4
after its first year of business, best measures, inc.'s sales revenue were $100,000 of which $90,000 was collected and total expenses of $60,000 of which $20,000 was paid. which of the following statements is correct? (select all that apply.) multiple select question. accrual-basis net income equals $80,000. accrual-based net income equals $70,000. cash-basis net income equals $80,000. cash-basis net income equals $40,000. cash-basis net income equals $70,000. accrual-basis net income equals $40,000.
This assertion is true. Net income on an accrual basis is $40,000. Net income on a cash basis is $70,000.
What are accounts on an income statement?Income Statement Accounts: What Are They? The accounts inside the general ledger utilized in a company's profit and loss are known as income statement accounts. Typically, these accounts appear inside the general ledger following the accounts that were utilized to create the balance sheet. a more substantial company.
Do you have several accounting inquiries?You probably have a gazillion ideas, worries, and inquiries running through your brain. You need to manage accounting in addition to your management duties. You probably have a lot of accounting questions because accounting is such a specialized and intricate profession.
To know more about income visit:
https://brainly.com/question/14732695
#SPJ4
frieda is at her local florist to buy a dozen roses. she is willing to pay $75 for the roses, and buys them for $75. frieda's consumer surplus from the purchase is
Based on the consumer surplus principle and the content of the question, Frieda's consumer surplus from the purchase is $0
What is Consumer Surplus?Consumer Surplus is a term that is used to describe the situation whereby the price that consumers pay for a product or service is less than the price they're willing to pay originally.
Generally, Consumer Surplus is defined as a measure of the additional benefit that consumers receive because they're paying less for something than what they were willing to pay.
Given that in this case, the consumer is willing to pay $75 for the items, and the consumer buys the item for $75, thereby making the Consumer surplus to be $0.
Hence, in this case, it is concluded that the correct answer is $0.
Learn more about Consumer Surplus here: https://brainly.com/question/13573671
#SPJ1
purpose: the purpose of this group project is to consider the economic trade-offs of economic policy decisions-to weigh the cost and benefits using the economic tools that you have learned in this course.
When activities are incompatible, trade-offs happen. A trade-off, in its simplest form, is when more of one item requires less of another. An airline can decide whether or not to offer meals, which increases costs and slows gate turnaround times, but it cannot do both without suffering significant inefficiencies.
In economics, the phrase "trade-off" is frequently used to refer to "opportunity cost." A trade-off entails making a sacrifice in order to acquire a desired good or experience. It's easier to use your resources (such as time, money, and energy) wisely if you are aware of the trade-offs involved in every choice you make.
What is the purpose of economic objectives?
Macroeconomic policies generally aim to increase national income levels while fostering economic growth to improve participants in the economy's utility and standard of life. A variety of additional secondary goals are also believed to contribute to long-term income maximization.
To learn more about trade-offs visit:
https://brainly.com/question/10895386
#SPJ4
You have $50,000 in your retirement fund that is earning 5.5 percent per year, compounded quarterly. How many dollars i withdrawals per month would reduce this nest egg to zero in 25 years?
Given an interest rate of 5.5 percent, compounded quarterly, a withdrawal rate of $340 per month would result in a $50,000 nest fund being depleted to zero in 25 years.
What is the interest rate right now?
The average rate for a 30-year fixed mortgage is currently 6.52% for today, Wednesday, December 21, 2022, a drop of 11 basis points from the previous week. The average 30-year refinance rate for homeowners wishing to refinance is currently 4.00%, up 8 basis points from the previous week.
What happens when interest rates rise?
Since higher interest rates make loans more expensive for both businesses and consumers, everyone ends up paying more in interest. Those who cannot or do not want to pay the higher installments delay projects that require financing.
To know more about interest rate visit:
https://brainly.com/question/14445709
#SPJ4
an understatement of the ending inventory in year 1, if not corrected, will cause net income to be understated this year and net income to be overstated next year.
The given statement is True. Stock that is still unsold at the end of an accounting period is referred to as ending inventory. Several inventory valuation approaches can be used to value the ending inventory.
Work-in-progress items finished things, and raw materials are the three types of inventory. The beginning inventory of the following period will be overstated if the ending inventory for the current period is overstated. The exaggerated initial inventory will also result in an overstatement of the cost of goods sold, which will understate the net revenue for the following period. Both the income statement and the balance sheet are impacted by inventory. The assets on the balance sheet will likewise be overstated if the ending inventory is overstated.
To learn more about balance sheet please click on the given link: https://brainly.com/question/26323001
#SPJ4
Which of the following is not something that you could do with a normal checking account? a. Deposit cash into your account. b. Demand in writing that money be paid to another person from your account. Give permission to a merchant to demand money from your account. d. Make purchases or get cash now, and pay back the bank in monthly payments.
Something that you could do with a normal checking account is to
Make purchases or get cash now, and pay back the bank in monthly payments..
Hence, Option D is correct.
What do you mean by checking account?
A checking account is a sort of bank account that enables simple deposits and withdrawals of cash for everyday use. For instance, you may use your debit card to withdraw cash, deposit a check you receive, or set up direct deposit to get your paychecks.Earn interest: Some checking accounts pay interest, so even when your money is just sitting in the account, it can increase. FDIC protection: You could be interested in a checking account if you've been storing your money in jars or beneath your mattress due to its security.Regular (basic) checking accounts, premium checking accounts, student checking accounts, senior checking accounts, interest-bearing accounts, business checking accounts, and rewards checking accounts are a few of the several types of checking accounts.To know more about Checking account here
https://brainly.com/question/26181559
#SPJ4
micah, the ceo of all-time fitness, often brags that her company pays the highest salaries in the industry, has excellent working conditions, and has clear and consistent company policies. she also admits that her workforce is not highly motivated. herzberg's research suggests that all-time fitness is having difficulty motivating its employees because it focuses on
Herzberg's research suggests that all-time fitness is having difficulty motivating its employees because it focuses on hygiene factors.
The glass ceiling can be caused by a lack of access to training programs proper development work experience, and development relationships. One of the benefits of paid work is a fixed salary. Self-efficacy is an individual's belief in their ability to complete a task or reach a goal.
It includes the confidence to control your actions influence those around you, and stay motivated to pursue your goals. Leaders need more than just planning, organizing, and aligning their teams to achieve their goals. She has to lead too. Eligible persons who wish to move up in the organizational hierarchy are suspended at lower levels, mostly because of discrimination based on sexism or racism.
Learn more about Herzberg's research here:- https://brainly.com/question/13069033
#SPJ4
based on the figure, if the economy is initially at point b and new technology leads to an increase in labor productivity, then in the long run we will end up at point
Because the new technology has led to increase in labor productivity so both LRAS and SRAS shift to the right meaning more about are produced at point D.
According to a recent survey of more than 600 manufacturing executives conducted by Deloitte and the Manufacturers Alliance for Productivity and Innovation, companies that invest in "smart factory" technology will see a 10% to 12% average increase in metrics such as manufacturing output and labor productivity (MAPI). The survey looked at how various measures at these facilities had changed over the last three years.
The use of quality sensing technologies improves the efficiency of the entire value chain and can eliminate disruptions. If production remains constant but employees are replaced by automation, labor productivity will increase.
To learn more about new technology in labor productivity, please refer:
https://brainly.com/question/29032578
#SPJ4
which of the following line item amounts would be under the retained earnings column of a statement of stockholders' equity? (select all that apply.)multiple select question.net incomestock issuancesdividends: commonadditional paid-in capitaldividends: preferredtreasury stock
Net income, dividends: common and dividends: preferred are the line item amounts that would be under the Retained Earnings column of a statement of stockholders' equity.
There is a strong relationship between a company's earnings and stockholder's equity. The higher a company's earnings, the higher the stockholder's equity. This is because earnings are added to stockholder's equity. Stockholder's equity is also increased by retained earnings. Therefore, a company with high earnings is likely to have a high stockholder's equity.
An earning statement is a document that summarizes an individual's income and taxes for a given period of time. It is typically used by employees to track their earnings and taxes withholdings.
Hence, the correct options are "A", "C" and "F".
The question is incomplete, the complete question is:
Which of the following line item amounts would be under the Retained Earnings column of a statement of stockholders' equity?
A) net income
B) treasury stock
C) dividends: common
D) stock issuances
E) additional paid-in capital
F) dividends: preferred
To know more about earnings, click here.
https://brainly.com/question/28045589
#SPJ4
The following T-account is a summary of the cash account of Blue Spruce Company.
Cash (Summary Form)
Balance, Jan. 1 10,400
Receipts from customers 473,200
Payments for goods 260,000
Dividends on stock investments 7,800
Payments for operating expenses 182,000
Proceeds from sale of equipment 46,800
Interest paid 13,000
Proceeds from issuance of Taxes paid 10,400
bonds payable 390,000
Dividends paid 52,000
Balance, Dec. 31 410,800
What amount of net cash provided (used) by financing activities should be reported in the statement of cash flows? (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Net cash provided used by financing activities $ enter a dollar amount
Net cash provided used by financing activities amount $338000
Proceeds from insurance of bond payable $390000
Dividend paid -$52000
Net cash provided used by financing activities $338000
Cash provided financing activities- The cash flow from financing activities (CFF) section of a company's cash flow statement shows the net cash flows used to fund the company. Financing activities include debt, equity, and dividend transactions.
Among the financing activities are:
-Equity issuance and repurchase.
-Short-term and long-term debt borrowing and repayment This activity includes principal payments to lenders and vendors, as well as the cost of issuing debt. ...
-Dividends are being paid.
-Other contributions or distributions from or to owners
For more information on financing activities visit:
https://brainly.com/question/25645312
#SPJ4
7.5 points ebookhintprintreferencescheck my workcheck my work button is now enabled5item 1 garcia company sells snowboards. each snowboard requires direct materials of $120, direct labor of $50, variable overhead of $65, and variable selling, general, and administrative costs of $23. the company has fixed overhead costs of $675,000 and fixed selling, general, and administrative costs of $141,000. it expects to produce and sell 12,000 snowboards.
$261 is estimated to produce. Direct labor is defined as labor that's also directly related to a company's production procedures.
How is labor costing calculated? What does it mean?Calculating overall cost of work for a good or service is known as labor costing. It has a substantial influence on profitability and is an essential component of corporate operations. Typically, direct and indirect labor expenditures are separated. The formulae, methodologies, and procedures used to determine labor expenses vary.
Briefing:Its sale price per unit is determined before the unit fixed cost.
Unit fixed cost= Fixed Overhead+ Administrative Costs
= $675,000+ $141,000
= $816,000
Fixed cost per unit = Total Fixed Cost/No Of Units Produced
=$816,000/$12,000
=$68
Total Cost Per Unit = Direct Labor + Direct Material + Variable Overhead + Fixed Cost Per Unit
=$50+$120+$23+$68
=$261
To know more about labor visit:
https://brainly.com/question/16690539
#SPJ4
1. increase the domestic price of the protected good 2. increase domestic production of the good 3. decrease consumption of the good 4. decrease consumer surplus 5. increase producer surplus 6. tariff revenue 7. production inefficiency 8. welfare loss
A maker's surplus is the difference between the lowest price they would have taken and the price they finally sell a product for.
the producer? Why did you say that, manufacturer ?A manufacturer is a person or company that transforms raw materials into completed items using a range of tools, equipment, and processes, and then sells those products to the market, exporters, marketers, retailers, and other producers who can use them to create more complex things.
What exactly does a manufacturer do?Manufacturing is the process of creating new products from components or raw materials. Due to the fact that all of these businesses produce goods rather than providing services, manufacturing encompasses businesses like bakers, tailors, cobblers, and auto manufacturers.
To know more about manufacturer visit:
https://brainly.com/question/14766442
#SPJ4
with reciprocal task interdependence, individual levels of performance are______for managers to identify.
Individual levels of performance are frequently easy, occasionally easy, and frequently challenging for managers to identify when there is reciprocal task dependency.
Make sure your team is productive and giving their best effort as a manager if you want to succeed. Because team members may have diverse demands and work styles, this can be difficult. This article examines the top 5 difficulties that managers encounter, according to their reports: having a defined strategy or vision for the team. listening and sharing information while communicating effectively. supporting professional growth and discussing output.
Getting to know the team's members will be the hardest obstacle. I'm accustomed to leading a sizable, diversified team and take great pleasure in bringing out the best in each of my coworkers. Or: "Keeping up with technical progress in this industry is the main challenge in this career.
Read more about task interdependence at
https://brainly.com/question/24261551
#SPJ4
DeMaria Corporation, a calendar year corporation, generates the following taxable income (net operating losses) since its inception in 2016:
Year Taxable result
2016 40,000
2017 (15,000)
2018 (5,000)
2019 6,000
Assuming Demaria makes no special elections with regard to NOLs, what is DeMaria’s net operating loss carryforward into 2020?
$
The net operating loss carry-forward to 2020 is $200
Define net operating loss.A net operating loss arises under U.S. Federal income tax law when specific tax-deductible expenses for a taxable year exceed taxable receipts. An uneven tax burden develops if a taxpayer is taxed during prosperous times without obtaining any tax relief during periods of NOLs.
In case of no election with regards to NOL, for year prior to 2018, NOL will automatically carryback. But after the year 2018, NOL can only be carryforward intricately, lessor of actual NOL or 80% of taxable income. Therefore, NOL of $15,000 will be carried back.
But loss of $5,000 will be carryforward up to 80% of Taxable Income in 2019.
NOL Offset in 2019 - Lessor or $5,000 or $6,000*80% = $4,800
Carry forward to 2020 = $5,000 - $4,800 = $200
To know more about net operating loss, visit:
https://brainly.com/question/13780556
#SPJ1
a new fitness and postrehabilitation center is opening. management plans to conduct criminal background checks on prospective employees. management should first:
A new fitness and postrehabilitation center is opening. Management plans to conduct criminal background checks on prospective employees. Management should first: Consult with legal counsel and verify the legality of this action.
How do you recognize moral and legal issues?You must consider the implications of the issue in order to decide whether it is lawful or ethical. The issue is legal if there are any potential legal repercussions. Therefore, ethical challenges are typically those that fall outside of the legal system.
A legal question should be posed, after which you should work to provide the response. Framing the issues in terms of potential rights and liabilities is a useful strategy because the law frequently addresses the rights and obligations of the parties.
To know more about legal counsel, refer:
https://brainly.com/question/28443281
#SPJ4
howard company purchases a trading debt investment on december 1 of the current year for $60,000. the market value of the stock investment at year end is $64,000.
The value that will be reported in net income for the adjustment is $4000.
Define the term Market value?Market value (also recognized as OMV, or "open market valuation") is the price an asset would fetch in the marketplace, or the fee that the funding neighborhood offers to a particular fairness or business.
Market value—also known as market cap—is calculated by way of multiplying a company's awesome shares through its current market price. If XYZ Company trades at $25 per share and has 1 million shares outstanding, its market value is $25 million.Estimation of market value;
The market cost of a company's fairness is the total cost given by way of the investment community to a business. To calculate this market value, multiply the cutting-edge market charge of a company's stock by using the total wide variety of shares first-rateFor the stated question;
Adjusted value = $64,000 - $60,000.
Thus, the value that will be reported in net income for the adjustment is $4000.
Learn more about market value of the stock investment here:
brainly.com/question/8084221
#SPJ4
The complete question is-
Howard Company purchases a trading debt investment on December 1 of the current year for $60,000. The market value of the stock investment at year end is $64,000.
What value will be reported in net income for the adjustment (if any)?
which of the following shows the earnings per share for a company whose price-to-earnings ratio is 6.75 times and whose common stock is currently selling at $12.50 per share?
According to the given information, the earnings per share for a company is 1.8518
Earnings per share = Market price of the stock / price-to-earnings ratio
Earnings per share = $12.50 / 6.75
Earnings per share = 1.8518
The term "earnings per share" (EPS) refers to a company's net profit divided by the total number of outstanding common shares.A popular metric for determining corporate value is earnings per share (EPS), which shows how much money a company makes for each share of its stock.A higher EPS denotes greater value because shareholders will pay more for a company's stock if they believe it is making more money than the price of its shares.EPS can be calculated in a number of ways, including on a diluted basis or by excluding unusual items and discontinued operations.Like other financial metrics, earnings per share is most useful when contrasted with similar businesses, companies in the same industry, or over time.Learn more about Earnings per share, here
https://brainly.com/question/15848731
#SPJ4
Kentucky Company uses the indirect method to prepare the statement of cash flows. Refer to the following income statement:
The net cash provided by ( used for ) operating activities, to Kentucky Company, based on the indirect method, is A. $ 42, 700.
How to find the net cash provided ?The net cash provided from operating activities refers to the net cash that comes from the transactions involving the businesses daily operations that lead to it making revenue and profit.
In this regard, the net cash from operating activities to Kentucky Company is :
= Net income - Gain on sale of plant assets + Depreciation expenses - Decrease in current liabilities - Increase in current assets
Net income = $ 58, 800
Gain on sale = $ 6, 000
Depreciation expense = $ 13, 000
Decrease in current liabilities = $ 22, 000
Increase in current assets = $ 1, 100
The net cash to Kentucky is:
= 58, 800 - 6, 000 + 13, 000 - 22, 000 - 1, 100
= $ 42, 700
Find out more on operating activities at https://brainly.com/question/25716101
#SPJ1
Which of the following is not a module of accounting software? a.Tally b.Oracle c.GAAP d. SAP
Software for accounting is not GAAP. A set of accounting regulations is known as the Generally Accepted Accountancy Principles (GAAP).
What is covered under GAAP?GAAP is a collection of accounting standards that was jointly produced by the Financial Accounting Chart Clearly (FASB) and the Public Accounting Standard Board (GASB). GAAP strives to standardize the accounting categories, assumptions, and procedures utilized throughout all US sectors.
What are the four GAAP principles?Four key limitations on GAAP are prudential, regular, substantive, and impartial. Objectivity includes issues like the auditor's independence and the factuality of the data. (GAAP) uses a range of guidelines and protections to ensure accurate and useful financial reporting. Accounting, for instance, is done during fiscal seasons, which is not the same.
To know more about GAAP visit:
https://brainly.com/question/24107590
#SPJ4
The stock price of Bravo Corp. is currently $100. The stock price a year from now will be either $160 or $60 with equal probabilities. The interest rate at which investors invest in riskless assets is 6%. Using the binomial OPM, the value of a put option with an exercise price of $135 and an expiration date 1 year from now should be worth __________ today.
$34.09
$37.50
$38.21
$45.45
I know the answer should be 38.21.
I want to know how to get this answer?
Thank you so much!
The stock price of Bravo Corp. is currently $100. The stock price a year from now will be either $160 or $60 with equal probabilities. The interest rate at which investors invest in riskless assets is 6%.
The use of the binomial OPM, the cost of a positioned option with an exercising rate of $a hundred thirty five and an expiration date 1 yr from now should be well worth $38.21 these days.
In finance, stock (moreover capital inventory) consists of all the stocks via the use of which possession of a commercial enterprise corporation or business enterprise is split.
A single percentage of the inventory way fractional ownership of the agency in proportion to the complete sort of shares. This generally entitles the shareholder (stockholder) to that fraction of the enterprise's profits, proceeds from the liquidation of property (after discharge of all senior claims together with secured and unsecured debt), or voting power, often dividing the ones up in percent to the range of coins each stockholder has invested.
Learn more about stock here
https://brainly.com/question/25818989
#SPJ4
in addition to recording current costs, the also provides valuable information when bidding on similar jobs in the future. (enter only one word per blank.)
In addition to recording current costs, the also provides valuable information when bidding on similar jobs in the future. A job cost sheet
What name is given to a record of all costs that relate to a particular job?A job cost sheet is a document or record that lists every expense related to a certain job. It is a method for a business to divide costs. A business can better understand how much it spent on each unit of each product produced by separating the costs.
In a job-order costing system, a job-cost sheet is used to record all manufacturing costs. These costs include direct material, direct labor and manufacturing overhead. Actual direct material and actual direct labor costs will generally be used since these costs are traceable to the product.
To know more about job cost sheet, refer:
https://brainly.com/question/28295481
#SPJ4
On October 1, year 1, Johnson Corp. purchased equipment for $100,000. The equipment has a useful life of 5 years with no residual value. Johnson uses the double-declining-balance method of depreciation. The partial year depreciation for year 1 is
Multiple choice question.
$10,000
Johnson uses the double-declining-balance method of depreciation. The partial year depreciation for year 1 is $10,000.
Depreciation is a term used in accounting to describe two different aspects of the same idea: first, the actual impairment in an asset's fair value, such as the annual loss in value of plant equipment due to use and wear and tear, and second, the reporting allocation. Accounting statement of the cost of an asset for the periods in which it is used.
Thus, depreciation is the process of reallocating or "depreciating" the cost of a physical item such as equipment, over the asset's useful life and reducing its value. produce. Long-term assets are written off by companies for accounting and tax reasons.
To know more about Depreciation here-
https://brainly.com/question/15085226
#SPJ4
Bengal Co. provides the following unit sales forecast for the next three months:
July August September Sales units 5,000 5,700 5,560 The company wants to end each month with ending finished goods inventory equal to 25% of the next month's sales. Finished goods inventory on June 30 is 1,250 units. The budgeted production units for July are:
Group of answer choices
6,250 units.
3,750 units.
6,425 units.
2,500 units.
5,175 units.
The budgeted production units for July are 5665 units.
Sales units for July = 5,000
Sales units for august = 5,700
Sales units for September = 5,560
Desired ending inventory for august = 25% of sales in September
= 25% × 5,560
= 1390 Units
Desired ending inventory for July = 25% of sales in august
= 25% × 5,700
= 1425 Units
The Desired ending inventory for July is beginning inventory for august.
Beginning inventory for august = 1425 Units
So,
Budgeted production units for August:
= Sales units for august + Desired ending inventory for august - Beginning inventory for august
= (5,700 + 1390 - 1425) units
= 5665 units
Inventory refers to all the objects, goods, merchandise, and materials held by means of a business for selling in the marketplace to earn a profit. instance: If a newspaper seller makes use of a automobile to supply newspapers to the customers, best the newspaper may be considered stock. The automobile could be handled as an asset.
Learn more about budgeted here :-
https://brainly.com/question/24940564
#SPJ4
when hydroboration-oxidation is applied to but-2-yne, a single pure product is obtained. determine the structure of this product.
The product of hydroboration-oxidation of but-2-yne is 2-methylpropane-1,3-diol. The structure is shown below.
CH3CH2CH=CHCH3
|
|
BH3 - THF --> CH3CH(OH)CH2CH2OH
Hydroboration-oxidation is an organic reaction involving the addition of borane (BH3) and hydrogen to an alkene in the presence of a strong oxidizing agent, such as sodium borohydride (NaBH4). This reaction results in the formation of alcohols and is a useful synthetic tool in organic chemistry.
When hydroboration-oxidation is applied to but-2-yne a single pure product 2-methylpropane-1,3-diol. is obtained.
For more questions like Hydroboration-oxidation click the link below:
https://brainly.com/question/24159168
#SPJ4
Solich Sandwich Shop had the following long-term asset balances as of January 1, 2024:
Cost Accumulated Depreciation Book Value
Land $95,000 0 $95,000
Building 460,000 $(165,600) 294,400
Equipment 235,000 (50,000) 185,000
Patent 250,000 (100,000) 150,000
Solich purchased all the assets at the beginning of 2022.
The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no residual value.
The equipment is depreciated over a nine-year service life using the straight-line method with an estimated residual value of $10,000.
The patent is estimated to have a five-year useful life with no residual value and is amortized using the straight-line method.
Depreciation and amortization have been recorded for 2022 and 2023 (first two years).
Required:
1. For the year ended December 31, 2024 (third year), record depreciation expense for buildings and equipment. Land is not depreciated. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Journal Entry Worksheet:
1. Record depreciation of the building.
2. Record depreciation of the equipment.
Record depreciation of the building. Hence, option 1 is appropriate.
What is the Depreciation?
Depreciation is a phrase used in accounting to describe two different elements of the same idea: first, the real decline in an asset's fair value over time, such as the annual loss in value of industrial machinery.
A tangible item's cost can be spread throughout its useful life using the accounting concept of depreciation. How much more of an asset's value has already been used is shown through depreciation. It makes it possible for companies to buy assets for longer than a predetermined period and profit from those assets.
Hence, option 1 is correct.
Learn more about Depreciation here:
https://brainly.com/question/15085226
#SPJ1
assuming a monopolist stays in business, a reduction in that monopolist's fixed costs would possibly increase, decrease or not effect profit-maximizing price and quantity, depending on the elasticity of demand. increase the profit-maximizing price and decrease the profit-maximizing quantity produced. not affect the profit-maximizing price or quantity. decrease the profit-maximizing price and increase the profit-maximizing quantity produced.
If a monopolist continues to operate, a decrease in its fixed costs would have no impact on the price or volume that maximises profits. Hence, Option C is correct.
The monopolist establishes the quantity and price of their equilibrium products by finding the intersection of marginal cost and marginal revenue.
A decrease in fixed costs will alter the monopolist's earnings, but it won't alter the equilibrium price or quantity. This is so that changes to fixed costs won't have an impact on either marginal revenue or marginal cost.
Even if fixed costs change, the optimal output level does not. Therefore, Option C is correct.
Learn more about monopolist from here:
https://brainly.com/question/14333920
#SPJ4
enables a manager to make decisions, give orders, and utilize resources. For example, the manager of a local coffee shop has the right to hire and fire new employees based on their punctuality, performance, and customer service ratings. A Instrumentality B An informal culture Expectancy D Valence E Authority Question 8 1 Point is the gradual movement of an organization away from its present state toward some preferred future state to increase its efficiency and effectiveness. A Benchmarking B Management by objectives © Evolutionary change Bureaucratic control E Departmental change
A manager needs authority in order to make choices, issue commands, and use resources. For instance, the proprietor of a neighborhood coffee shop has the authority to employ and discharge baristas based on their punctuality.
How do I define resources?
a supply or support source: a readily accessible method. A natural source of riches or income; generally used in the plural. Natural characteristics or phenomena that improve the quality of human life; frequently used in plural.
What are some resources' examples?
Natural resources include things like oil, coal, gas, metals, stone, and sand. Water, soil, sunlight, and air are other natural resources. Natural resources also include fish, plants, birds, and animals. Natural resources are utilized to produce food, fuel, and the raw materials needed to build commodities.
To know more about resources visit:
https://brainly.com/question/28605667
#SPJ4
