The account balances for a corporation that uses a periodic inventory system are as follows: inventory (at the start of the year), $3,600; freight in, $650; purchases, $10,700; purchases returns and allowances, $1,950; and purchases discounts, $330. The total cost of the goods is $9,070.
In a system of periodic inventories, how do you calculate inventory?The total quantity of the products that are available for sale equals starting inventory (calculated based on the most recent physical inventory) plus all purchases made between the most recent physical inventory and the following physical inventory.
Using the periodic approach, how do you determine ending inventory?Beginning inventory + net purchases - COGS = ending inventory is the primary formula used to calculate this amount. The end of the previous period's inventory serves as your starting point.
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if the owner of goods entrusts possession of a particular good to a merchant who deals in those goods, there is: blank .
Entrustment occurs when the merchant of a good transfers ownership of that good to a business that deals in that good.
A business or person that sells products or services is known as a merchant. A person who only conducts business online is known as an Entrustment ecommerce merchant. Due to his expertise of the products he is selling, a merchant must sell the goods to the consumer for a profit while also having a legal obligation to treat the customer with care.
A merchant can be either a wholesaler or a retailer, and the goods can be bought from one source and sold to another. A merchant is a general term for anyone who sells anything, with the only qualification being that the good or service is being offered for sale in order to make a profit.
Anyone who engages in business or trade has historically been referred Entrustment to as a merchant. A merchant in the 16th century was someone who merchant traded locally, such as a baker, grocer, or shopkeeper, as well as someone who imported and exported goods over great distances and provided value-added services like credit and finance.
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power that is derived from a person's official standing within a workplace is commonly referred to as
The power that is derived from a person's official standing within a workplace is commonly referred to as Legitimate power.
For that reason, legitimate power is described by formal and informal regulations established by means of a rightfully elected government (energy of function), and by using their know-how approximately skillful techniques (strength of information).
This is a kind of formal energy that you get hold of whilst you occupy a positive role in your organization. Depending on the placement, it offers you authority inside the enterprise. It also lasts as long as you stay in that role. This kind of strength is recognized with the aid of subordinates.
Legitimate power is a proper type of strength derived from the location you keep in a business enterprise. Subordinates comply because they accept it as true within the legitimacy of their role. With legitimate power, it's far your position that gives you your power. The higher up the organizational hierarchy you go the more electricity you hold.
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The best example of a city’s investment in infrastructure as a response to urbanization was the building of?.
He best example of a city’s investment in infrastructure as a response to urbanization was the building of roads.
What is urbanization and its effects?Urban areas can expand due to migration into urban regions or growth in the human population.Deforestation, habitat loss, and the removal of freshwater from the ecosystem are all frequent effects of urbanization, which can reduce biodiversity and change the ranges and interactions of various species.Urbanization is the process of resembling a city more.When populations increase, a city's population may spread to the surrounding areas.We refer to this as urbanization.Perhaps on the town's former periphery, tall apartment buildings emerge, attracting more residents and workers.
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A company would most likely have an unfavorable labor rate variance and a favorable labor efficiency variance if.
A favorable labor rate variance if the mix of workers used in the production process was more experienced than the normal mix.
The difference between actual costs for direct labour and projected expenses calculated in accordance with standards is the labour rate variance, which focuses on the wages paid for labour. The number of labour hours used in production is the main focus of the labour efficiency variance.
A favourable variance shows that the cost of labour was lower than expected, whereas a negative variance shows that the cost of labour was higher than expected.
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What is the best location for a grocery store?.
The best location for a grocery store that is easily accessible to potential customers and has enough space for a large number of shoppers.
What is grocery store?A grocery store is a store that sells food and other household items. In India, it is common for people to buy their groceries from small independent shops rather than large supermarkets. These shops are usually family run and often specialize in selling certain types of food. There could be, for example, a grocery store that specializes in selling spices, or one that sells only fresh produce. Indian grocery stores often sell a variety of products, including produce, meat, spices, grains, and household items. They may also have a prepared food section such as snacks and drinks. Some grocery stores are open all day, but others may have specific opening hours. As grocery stores play an integral role in the daily lives of many people, they are an integral part of Indian culture.
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which of the following is true of logistics? group of answer choices shaving off a small fraction of logistics costs has very little impact on savings. companies can gain a powerful competitive advantage by using improved logistics to enhance customer service or lower prices. the cost savings to a company and its customers due to improved logistics is typically nominal. the cost of logistics is considerably less than advertising. less than 5 percent of an average product's price is accounted for by shipping and transport.
The true statement about logistics is that companies can gain a powerful competitive advantage by using improved logistics to enhance customer service or lower prices. The Option A is correct.
What is the importance of logistics?Basically, the logistics are responsible for the movement and storage of goods and services along with the documents and reports that record those movements throughout an item’s journey to the customer.
In Supply management, the logistics include transportation methods that get inventory from one location to another. It is responsible for figuring out where goods can be kept at each stage until they’re needed at another location which is essential to effective supply chain management.
In conclusion, the Logistics are very important because it manages and tracks the people and resources needed to store and transfer goods and services. Its also ensure that materials and products reliably move at the right time and on budget.
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the is the idea that people should help those who need their help, such as young children and others who cannot give as much as they receive, even if the costs outweigh the benefits.
The social responsibility norm holds that people should assist those in need, such as children and those who cannot give as much as they receive, even if the cost outweighs the benefits.
A cost is the worth of money that has been expended in the production or delivery of a good or service and is therefore no longer accessible for use in accounting, retail, research, or accounting. In business, the cost may be one of acquisition, in which case the cost is the sum of the money used to obtain it. In this instance, the input required to obtain the item is money. This acquisition cost could include both additional transactional costs incurred by the acquirer over and beyond the price given to the producer, as well as the cost of production borne by the original producer. In most cases, the price also includes a profit margin above the cost of manufacture.
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at year-end december 31, chan company estimates its bad debts as 0.90% of its annual credit sales of $735,000. chan records its bad debts expense for that estimate. on the following february 1, chan decides that the $368 account of p. park is uncollectible and writes it off as a bad debt. on june 5, park unexpectedly pays the amount previously written off. prepare chan's journal entries to record the transactions of december 31, february 1, and june 5.
The journal entries for Chan company are-
December 31 Bad debt expense $6615
Allowance for doubtful accounts $6615
What is a journal entry?
A journal entry is the act of recording any transaction, even if it is economic or not. An accounting diary that displays the debit and credit balances of a transactions. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.
The bad debt written off or direct write off technique, as applicable, shall be used to record the journal entries for the events that occurred on December 31, February 1, and June 5.
February 1 Allowance for doubtful accounts $368
Accounts receivables $368
June 5 Cash $368
Accounts receivables $368
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Monopoly profit will _____ when a monopolist goes from single-price monopoly to perfect price discrimination.
Monopoly profit will charge different when a monopolist goes from a single-price monopoly to perfect price discrimination.
Discrimination approach treating some humans differently from others. It is not illegal - after all, people are paid one-of-a-kind wages relying on their popularity and abilities. however, there are positive motives for which your company can not discriminate against you by regulation. If someone discriminates in a good way to satisfy a few other individuals' wishes, it's also discrimination.
An example of this is a landlord who refuses to permit a person with a sure incapacity to rent a rental because the alternative tenants do not want to have a neighbor with that disability. Discrimination takes place whilst people are dealt with less favorably than different humans are in a comparable scenario most effective due to the fact they belong or are looking as if it would belong to a positive organization or class of human beings.
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in the long run, each firm in an industry will: earn only enough to cover the opportunity costs of all resources used in production. produce where mr is less than mc. offer more than one variation of the same good. set price in coordination with other producers in the market.
In the long run, each firm in an industry will earn only enough to cover the opportunity costs of all resources used in production.
What is the Opportunity Costs?
Opportunity costs represent the potential benefits that an investor or business misses out on when choosing one alternative over another. It is the foregone benefit that would have been derived from an option not chosen.
Opportunity cost analysis plays a crucial role in determining a business's capital structure. A firm incurs an expense in issuing debt and equity capital to compensate lenders and shareholders for risk of investment, yet each also carries an opportunity cost.
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which of the following is a qualified education expense for the purpose of tax-free scholarships?
a. Room and board.
b. Textbooks.
c. Transportation expenses.
d. Equipment not required for attendance.
The option that is a qualified education expense for the purpose of tax-free scholarships is b. Textbooks.
What is a tax-free scholarships ?It should be noted that the Income from a scholarship can be regarded as an exempt from tax however the scholarship holder must be receiving full-time instruction at a university as well as other educational establishment.
The exemption can not be regrded as one that apply to any income you receive from a fellowship because it is differnt from the sholarship, hence the scholarship serves as the financial support that can be awarded to a student, which is usually done using the academic achievement or other criteria as a basis and this may include financial need, for the purpose of schooling and this can come in differnt forms scholarships and the most common being merit-based and need-based.
Therefore, option B is correct.
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for a monopoly, the level of output at which marginal revenue equals zero is also the level of output at which group of answer choices marginal cost is zero. average revenue is zero. total revenue is maximized. profit is maximized.
For a monopoly, the level of output at which marginal revenue equals zero is also the level of output at which the Total revenue is maximized
What is marginal cost?Generally, Irving Fisher defined a monopoly as "the lack of competition in a market," which results in a circumstance in which a single individual or business is the exclusive provider of a certain product or service.
The cost of producing one more unit of output is referred to as the marginal cost. The marginal cost is an important concept in cost accounting because it helps determine the most efficient level of production for a manufacturing process.
This makes the marginal cost an important concept. It is computed by determining what additional expenses would be incurred in the manufacturing of just one additional unit.
In the field of economics, the term "marginal cost" refers to the change in the overall cost that occurs as a result of an increase in the quantity that is being produced; in other words, it is the cost of creating extra quantities.
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if the one-year discount factor is 0.90, what is the present value of $120 expected one year from today?
The present value of $120 expected one year from today is $108.
What do we mean by the present value?Given a certain rate of return, present value (PV) is the current value of a future financial asset or stream of cash flows. A discount rate or the interest rate that could be obtained through investment is applied to the future value to get the present value.A person who now possesses $10,000 and invests it at a 10% interest rate will have made $1,000 by using the money for a full year. Instead, she would forfeit the $1,000 in interest income if she couldn't access the money for a year.So, the present value of $120 expected one year from today is:
Let, 0.90 be 90%.Now, calculate:
120/100 × 90$108Therefore, the present value of $120 expected one year from today is $108.
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what is the standard deviation of returns of a portfolio that produced returns of 20%, 25%, and 30%?
Standard Deviation of Returns. Standard deviation of returns is a measure of volatility or risk. The large the return fashionable deviation, the larger the editions you can count on to see in returns
Portfolio variance is calculated by way of multiplying the squared weight of each security with the aid of its corresponding variance and including twice the weighted common weight extended with the aid of the covariance of all individual safety pairs.
What is portfolio return and risk?Portfolio return refers to the achieve or loss realized by using an funding portfolio containing countless kinds of investments. Portfolios goal to deliver returns based on the cited goals of the investment strategy, as well as the risk tolerance of the type of investors targeted by way of the portfolio.
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https://brainly.com/question/475676#SPJ4Tiffany puts $50 into her savings account every month. Which function of money was best represented in this scenario?.
Store of value is the function of money was best represented in this scenario.
What is saving account?A savings account is a bank account at a retail bank. Common features include limited withdrawals, lack of checking and linked debit cards, limited transfer options and inability to move. Suitable for private individuals to pay salaries and also to collect funds for emergency situations.
There are different savings accounts to choose from and they are not all the same.
traditional savings accounts high-yield savings accountsmoney market accounts certificates of deposit cash management accounts special savings accounts.To learn more about saving account, refer;
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severance packages are generally opposed, partly because they have a low level of success as a defense strategy. however, those who want to encourage top-level managers to accept a takeover bid that will best serve shareholders' interest would tend to favor this option. a. true b. false
The correct answer is a) True. Severance agreements are typically opposed, in part because they are unsuccessful as a defensive tactic.
When a person is let go from their position, their company may require them to sign a severance agreement. In exchange for an employee's release of claims against the employer, severance compensation is frequently provided.
In the context of contract law, the doctrine of severance seeks to dislodge a void, illegal, or ambiguous component of the contract - whether it be a part of a clause or entire clauses - in order to preserve the validity of the remaining provisions.
In a severance agreement, the employer pays the worker a certain amount in return for certain rights, like the right to sue the employer.
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Businesses that use a __________ strategy focus on a narrow market segment or niche.
Businesses that use a specialization strategy focus on a narrow market segment or niche.
What is specialization strategy?In order to become more effective, specialization in business is concentrating on a single product or a small range of items.Specialization can boost productivity and give a company or economy a competitive advantage.Macroeconomic specialization deals with the general advantage an economy holds in production, while microeconomic specialization deals with the specific Both at the macroeconomic and microeconomic levels, specialization is possible. At the personal level, specialization typically takes the shape of occupation- or job-specific specialization. Each person in a group or economy, for instance, has a special collection of skills, interests, and capabilities that make her uniquely qualified to carry out a particular set of activities.To learn more about specialization, refer to
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If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $1000 billion, and excess reserves total $1 billion, then the monetary base is.
The monetary base is:
C= Currently
=$400 billion
r = reserve ratio = 0.10
D = check deponit =$1000 billion
ER= Excel reserve =$1 trillion
By using formula
MB = <+ (RDX) +ER
= $400+ (0. 10x1000) +4 billion
=$501
The monetary fee is the amount that would be paid in cash for an asset or carrier if it were to be sold to a third party. For instance, tangible belongings, intangible assets, labor, and commodities are priced at their economic value.
Financial objects are belongings or liabilities that have a hard and fast price, such as coins or debt. These gadgets, which include $25,000 in cash, have a set cost despite the fact that inflation and different macroeconomic elements may have an effect on buying power.
Economic refers back to the delivery of money, or the quantity there to spend. Monetary implies the budget, or how the money could be spent. Economic coverage entails manipulating interest prices and the cash supply and is the job of the Federal Open market Committee (FOMC).
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Transam mail service purchased equipment for $2,500. Transam paid $400 in cash and signed a note for the balance. Transam debited the equipment account, credited cash and?.
Explanation:
a. nothing further must be done.
b. credited another asset account for $400.
c. credited a liability account for $2,100.
d. debited the retained earnings account for $2,100.
The sharing economy requires companies to be _____ flexible in how they organize their activities.
The sharing economy requires companies to be more flexible in how they organize their activities.
An economy is a machine of inter-related production and consumption activities that ultimately decide the allocation of assets within a set. the producing and intake of products and offerings as an entire satisfy the desires of those living and running internal it.
An economy is an area of the production, distribution and exchange, further to intake of products and services. In widespread, it's miles defined as a social domain that emphasize the practices, discourses, and fabric expressions associated with the manufacturing, use, and manipulate of scarce resources'.
Economic systems may be categorised into 4 essential kinds: conventional economies, command economies, blended economies, and marketplace economies.
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since you are working for the federal government, can you work for any company outside the government?
While employed by the federal government, you are permitted to have a second job so long as it doesn't conflict with your duties there. Before working for someone else, you should consult with your ethics counselor.
What is the federal form of government?
Federalism is a form of governance in which the center and its component elements, such as states or provinces, are given varying degrees of authority.One set of politics is at the center or national level, and the other set is at the regional or provincial level.This institutional mechanism allows for both of these political systems to coexist.What kind of federal government are examples?
A strong central government that wields great power shares it with states or provinces that are granted significant autonomy, typically through their own legislatures.Examples include Australia, the Federal Republic of Germany, and the United States.Learn more about federal government
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what is an entry and exit criteria to a process give an entry and exit criteria for two of your tasks from your morning routine as a waterfall process?
There must be a prerequisite for doing the activity or task in order to enter a process.
In order to enter in an activity or action, there must be a requirement. A process's exit criteria are a set of conditions that must be met before moving on to the subsequent activity or task. Before heading downstairs in the morning, I have a requirement to brush my teeth; otherwise, I won't feel as clean or refreshed. One exit requirement is that I must eat breakfast before beginning any assignment since otherwise, I won't be able to concentrate.
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Why did inflation surge to a 40-year high? here are 4 causes of the worst monetary-policy mistake in years.
They include the Fed's new policy framework, Powell's scepticism of forecasts, and the unintended consequences of some forward guidance provided to markets by the Fed in 2020.
Why did inflation surge to high?The first was being unaware that complex mortgage securities with high credit ratings but turned out to be toxic during a broad housing downturn had eroded the foundation of the United States banking system. The resulting valuation collapse caused the global financial crisis in 2008, which crippled the US economy for years.
They include the Fed's new policy framework, Powell's scepticism of forecasts, and the unintended consequences of some forward guidance provided to markets by the Fed in 2020.
As the country was emerging from COVID-19 lockdowns in August 2020, Jay Powell's Federal Reserve announced a historic shift. The Fed had been working on a new policy framework for more than a year prior to the pandemic, and the pandemic was not going to stop the US central bank from implementing what it had been working on.
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When a product owner adds a new feature/idea in the backlog and brings it up for discussion during refinement session, how should a team respond?.
Answer:
Be positive, but constructive. A team should respond with an enthusiastic, but honest, analysis. A "thank you" should start the conversation. Questions should be respectful and ideas offered on how to make the idea even better. Avoid "this won't work, that was MY idea, or that won't work" responses, but still be honest in an appraisal. The goal is to encourage ideas and not judge in the meeting. Focus on how to make it better, and the contributor will feel comfortable in offering future ideas.
Explanation:
A major barrier to innovation is fear of rejection. Really innovative ideas can be radical, and the initial reaction might be to denigrate the concept and get a laugh. But that blocks the free discussion of novel ideas. Imagine if you had proposed to mail DVD's to homes rather than operate stores, in the early days of DVD acceptance. If your Netflix team had laughed at the idea, you might have taken it it Blockbuster and made a fortune. But it the Netflix idea team responded with "Wow. Interesting. Do you really think people will mail them back?," then the whole team would have joined in with ideas on how to make the idea work. Be positive, but constructive.
interpersonal communication seems to work well at zifty with managers as sources/encoders and drivers as decoders/destinations and the signals/messages being the routes to follow to pick up and deliver food from restaurants to customers. from the video, when do the drivers become the sources/encoders and the managers become the decoders/destinations?
tThe drivers become the sources/encoders and the managers become the decoders/destinations When drivers make improvement suggestions to management.
Control is the management of an corporation, whether or not it's miles a business, a non-profit company, or a central authority frame. it is the artwork and technological know-how of coping with sources of the enterprise.
On the most essential stage, control is a area that includes a fixed of five wellknown capabilities: making plans, organizing, staffing, main and controlling.
The management definition is a unmarried or group of people who challenges and oversees a person or collective institution of humans in efforts to accomplish favored goals and objectives. furthermore, the definition of control consists of the capability to devise, prepare, reveal and direct people.
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on december 30, you decide to make a $1,000 charitable donation. since you itemize your deductions you will not have to pay taxes on the $1,000 you donate. if you are in the 27% tax bracket, how much will you save in taxes for the current year by donating $1,000 instead of keeping it as income?
$270 you save in taxes for the current year by donating $1,000 instead of keeping it as income.
Tax savings = Tax rate × Tax deduction
= 0.27 × $1,000
= $270
Taxes are obligatory contributions levied on individuals or businesses with the aid of a central authority entity—whether or not nearby, local, or national. Tax sales finance authorities' activities, inclusive of public works and offerings which include roads and schools, or applications including Social Protection and Medicare.
When someone or an enterprise is taxed, they need to pay part of their profits or income to the authorities. whilst goods are taxed, a percentage of their charge must be paid to the authorities.
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brokers who charge low overheads, low fees and commissions but offer no additional services other than executing trade transactions are called
Brokers who charge low overheads, low fees and commissions but offer no additional services other than executing trade transactions are called discount broker
What Is a Discount Broker? A discount broker is a stockbroker who executes buy and sell orders for a fraction of the commission paid by a full-service broker. A discount broker, in contrast to a full-service broker, does not, however, offer investment advice or carry out analysis on behalf of a customer.Most inexpensive brokers typically don't provide investing advice. This indicates that fees are frequently substantially lower than those charged by conventional full-service brokers. Trading commissions for bargain online brokers range from $4.95 to $20, although the majority are between $7 and $10.With over 10 lakh clients, Zerodha is the most well-known bargain broker. With outstanding products and services, they are the most well-known broker in India.To learn more about discount broker refer to:
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if the fixed costs in a particular industry are high, but the cost of producing an additional unit of a good is low, then the industry might benefit from:
If the fixed costs in a particular industry are high but the cost of producing an additional unit of a good is low, then the industry might benefit from bundling.
What is Bundling?
Bundling occurs when businesses combine multiple of their goods or services into one unit, frequently at a cheaper cost than they would charge customers to purchase each item separately.
In a marketing strategy known as bundling, businesses sell a number of goods or services as one comprehensive package.
Although the bundled goods and services are frequently related, they might also include unrelated goods that appeal to a certain customer.
Pure bundling strategies are occasionally used by businesses, which involve combining many goods or services into a single item that can only be purchased completely.
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which of the following can bring about a change in the quantity demanded? group of answer choices change in supply. change in quality. change in income. change in product price. change in taste.
The following can bring about a change in the quantity demanded Change in product price.
Which of the following can alter the quantity that is demanded?A change in the exact quantity of a product that customers are willing and able to purchase is referred to as a shift in the quantity demanded. A change in pricing is what led to this shift in the quantity demanded.
What influences changes in both demand and quantity?This could be brought on by a change in consumer preferences, population growth, income fluctuations, the cost of complementary or substitute items, or shifting expectations for the future. A shift along the demand curve that results exclusively from a change in price is referred to as a change in quantity demanded.
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snap inc. and crackle corp. own a capital and profits interest in the cereal bowl partnership of 20% and 25%, respectively. there are another 35 partners, all with interests of less than 5%. snap and crackle have a june 30 year-end and the 35 other partners have various fiscal year ends. what year end must cereal bowl use?
Cereal bowl on June 30 because no partners with the same year-end own a majority interest. However, the principal partners have the same year-end of June 30.
Companies and governments utilize fiscal years, which are one-year periods, for financial reporting and planning. The most typical accounting period utilized to create financial statements is a fiscal year. Not all fiscal years coincide with the calendar year, despite the fact that they can begin on January 1 and end on December 31.
For instance, universities frequently start and finish their fiscal years in accordance with the academic year. A principal partner serves as the company's representative in addition to being a partner and principal. Any decisions they make reflect the ideas, viewpoints, and worries of the other partners.
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