A change in accounting standards for which the previously reported financial statements for periods used for comparison should be supplied.
The use of a new depreciation technique or transitioning from the LIFO (Last In, First Out) to FIFO (First In, First Out) inventory valuation method are examples of changes in accounting principles. Accounting principle adjustments are always made within the current or next quarter. For changes in accounting estimates, previous statements should be restated.The corporation alternates between the various inventory value techniques in the shown instance. Because the policy is not applied consistently and is altered every year, this is a breach of the consistency principle.There are two accounting techniques known as FIFO and LIFO that are used to manage inventory and financial concerns regarding the amount of money a corporation must have locked up in inventory of finished items, raw materials, parts, components, or feedstocks.Thus this is the type of accounting change.
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suppose jeff bezos deposits $20 million in cash into his checking account at wells fargo bank. if the reserve requirement is 10% and no banks hold excess reserves, what will be the total change in money supply?
The total change in money supply, given the amount deposited by Jeff Bezos and the reserve requirement, is + $ 180 million.
How to find the change in money supply ?The total amount of reserves held by a bank rises with each dollar deposited into an account. The bank will lend out the extra reserves while keeping some of the necessary reserves on hand. The money supply is increased when such loan is made. Banks "generate" money in this way to expand the available supply.
To find the change in money supply, first find the money multiplier by the formula :
= 1 / Reserve requirement
= 1 / 10 %
= 10
The change is therefore :
= Amount left after reserve requirement x Money multiplier
= ( 20 million x ( 1 - 10% )) x 10
= 18 million x 10
= $ 180 million
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Business may be segmented by all of the following except Oa. time period Ob. region Oc. customer type Od product line
The correct answer is a. time period. Business Period refers to the time frame that is a part of the Business Cycle and is made up of either four or five calendar weeks, depending on the situation.
Any time frame used for financial reporting is referred to as an accounting period. The statements or reports for a certain accounting period include transactions that occurred within a specified calendar range. A reporting or accounting period frequently lasts for a full year. For various company responsibilities, there could be numerous accounting periods. The accounting year, also known as the accounting and reporting time periods, is a common word used in finance to describe a period of time. Depending on the inclination of the business and owners, these intervals can be quarterly, semi-annually, annually, or at any other time. They are usually established by historians after the era has passed. They are extensive and range in length from hundreds to thousands of years.
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negotiators can become so focused on reaching an agreement they lose sight of the real goal, which is to
negotiators someone who tries to help two groups who disagree to reach an agreement with each other, usually as a job: Some very skilful negotiators will be needed to settle this dispute. International relations: diplomacy & mediation.
Integrative negotiation, also known as interest-based negotiation, is looking deeper than the parties' stated views to find viable tradeoffs and win-win scenarios across problems and interests. Integrative - An agreement reached through an integrative negotiation results in a win-win situation for both parties. Because neither side feels like they have lost at the end of the discussion, it is often preferable to distributive bargaining. When compared to integrative bargaining, distributive bargaining processes, which are founded on the idea of competition between participants, are more likely to result in lose-lose outcomes or to produce a situation where each side gets some of what they wanted but not as much as they might have if they had used...
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why do you suppose headquarters is anxious for the office products division to add the new product line?
Adding the printing operation would Increase the company's overall ROI. Adding the printing operation would Decrease the company's overall ROI.
Headquarters would calculate the comeback on investment when adding a new line of the product line by the workplace products division and compare it by overall company. Return on Investment (ROI) A calculation of the price of associate investment versus its value. The ROI formula is (profit minus value) / cost.
Return on investment (ROI) may be a metric accustomed to perceiving the gain of associate investment. ROI compares what quantity you acquired associated with investment to what quantity you attained to gauge its potency.
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Your friend tells you he is going to start investing and would like to earn a 10% return. They say stocks make them nervous, so they will only be investing 10% in stocks and the remaining 90% will be invested in bonds. What would you say to him?
If you invest a 100% in stocks however, you stand to make an average of 9.2% but a chance of a worst return of -40.40%.
What are stocks?Stocks are a sort of security that grants owners a stake in a business. Another name for stocks is "equities." United States Securities and Exchange Commission
Stocks can be divided into numerous categories based on a variety of factors, including fundamentals, industry, risk, dividend payout, and business size.
A stock reflects a claim on a company's assets and earnings as well as a share in the ownership of the business. As a result, investors own a portion of the business.
Fractional shares of stock, which are less than whole shares of ordinary stock, also signify ownership in a corporation.
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an asset was acquired on january 1, 2021, for $31,000 with an estimated four-year life and $2,000 residual value. the company uses straight-line depreciation. calculate the gain or loss if the asset was sold on december 31, 2023, for $10,000.
Using the straight line depreciation method, if the asset is sold for $10,000 on December 31, 2023, the gain is $9,750.
What is straight-line depreciation?Straight line depreciation is the most common and straightforward method for breaking up the cost of a capital asset.It can be estimated by simply dividing the asset's cost (less salvage value) by its usable life.How to calculate gain/loss using straight line depreciation method?given values are,
cost of asset = $31000
cost residual value = $2000
useful life of year = 4
sold on December 31, 2023, for $10,000.
straight-line depreciation = cost of asset - Salvage price/Year of estimated useful life
(31,000-2,000)/4 = 7,250
Carrying value as on 31st December 2023:
31,000-(7,250*3) = 21,750
21,750 - 10,000- 2,000 = 9,750
Using the straight line depreciation method, if the asset is sold for $10,000 on December 31, 2023, the gain is $9,750.
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which type of inquiry (hard or soft) may occur when renting an apartment or opening a checking or brokerage account? question 3 options: hard. soft. both hard and soft. neither hard nor soft
C: 'both hard and soft' types of credit inquiry may occur when renting an apartment or opening a checking or brokerage account.
Both hard and soft types of inquiry pull the same financial data but for different purposes. A hard inquiry is typically done when you apply for a credit card or loan; in contrast a soft inquiry is conducted to serve the purposes, such as pre-screening for credit card offers. Thus, in the context of the given question where the scenarios such as renting a house or opening a checking or brokerage account are given, both hard and soft types of inquiry may occur.
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you've just set up an option on your website for your users to sign up for a newsletter. you want to count those new sign-up events as conversions and create an audience for users who signed up. which part of your analytics 4 property lets you manage events, conversions, and audiences?
The part of your analytics 4 property that lets you manage events conversions, and audiences are Configure.
Conversions in Analytics are the important actions you want users to take on your website and are considered important events for your business. Any action or interaction that occurs on your website can be tracked and flagged as a conversion event. For example, playing a video.
GA4 is a new property designed for the future of measurement. Collect data from both your website and app to better understand your customer's journey. Use event-based data instead of session-based. Includes privacy controls such as cookieless measurement behavioral and conversion modeling. Funnel exploration lets you visualize the steps your users take to complete a task.
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the more you have about something, the less you have about that something. expected utility; uncertainty expected utility; certainty information; uncertainty information; certainty
The greater you've got got approximately something, the much less you've got got approximately that something:uncertainty expected utility.
The required details about expected utility is mentioned in below paragraph.
Expected utility is an financial time period summarizing the application that an entity or combination financial system is anticipated to attain below any wide variety of circumstances. The Expected utility is calculated through taking the weighted average of all viable effects below positive circumstances. With the weights being assigned through the probability or chance, any unique occasion will occur.The Expected utility of an entity is derived from the anticipated application speculation. This speculation states that below uncertainty, theweighted averageof all viable ranges of application will quality constitute the application at any given factor in time.
Expected utility idea is used as a device for analyzing conditions wherein people ought to make a choice with out understanding the effects which can end result from that choice, i.e., choice making below uncertainty. These people will pick the motion to be able to bring about the best Expected utility, that's the sum of the goods of chance and application over all viable effects. The choice made can even rely on the agent’s threat aversion and the application of different agents.
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Personal finance questions, answers in complete sentences please. Any help is appreciated :)
1. Define FICO score here: (What does a high or low score show? What is FICO abbreviation for?)
2. Can missing a payment on credit cards, check into cash loans, or rent payments affect your Credit Score? If yes, why?
3. Will credit pulls (hard pulls) affect your credit score?
4. Borrow as little as possible and pay it in full on time wil effect your credit score in what way?
5. Will staying under 30% of your credit limit help your credit score?
1. The FICO Score is used by lenders to make fast credit risk decisions
The abbreviation means Fair Isaac Corporation.
2. Missing a payment on credit cards, check into cash loans, or rent payments affect your credit score in a negative way.
3. A hard credit inquiry could lower your credit score by as much as 10 points
4. Borrow as little as possible and pay it in full on time wil effect your credit score in a positive way.
5. Yes. Staying under 30% of your credit limit help your credit score.
What is the credit score about?Lenders use the FICO Score to help them make accurate, dependable, and timely credit risk decisions throughout the customer lifecycle. The credit risk score ranks consumers based on their likelihood of meeting their credit obligations on time.
On-time payments are the most important factor influencing your credit score, so missing a payment can be painful. If you have otherwise perfect credit, a payment that is more than 30 days late can reduce your credit score by up to 100 points. If your score is already low, it will have less of an impact but will still cause damage.
Most experts advise keeping your total credit card utilization under 30%. Lower credit utilization rates indicate to creditors that you can use credit responsibly without overusing it, so a low credit utilization rate may be associated with higher credit scores.
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Question 13 Controlling precedents are binding authorities.
True
False
Binding Authorities-Controlling precedents in a jurisdiction are referred to as binding authorities. A binding authority is any source of law that a court must follow when deciding a case. TRUE
precedents that have been deemed to be controlling in a certain area of law. A court must adhere to when making a decision. Constitutions, laws, and regulations that apply to the matter at hand are examples of binding authority, as are court judgments that set the legal precedents for the area. Binding authority, also known as mandatory authority, describes decisions, laws, or rules that a court is required to abide by because they are binding on the court. Cases, laws, or rules that are persuasive but which the court is not required to follow are referred to as persuasive authority. a legal authority that a judge must consider while rendering a decision in a case. For instance, a judge must follow laws from the same state where the case is being brought or rulings from higher courts.
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Which one of the following is the most appropriate method to measure the economic growth of a country? A. National Income B. Net national produce C. Gross Capital Formation D. Gross DOmestic Product
The best way to gauge a nation's economic development is by its gross domestic product.
What exactly is the gross domestic product?
The market worth of all the goods and services produced inside a nation's boundaries over a certain time period is measured as the Gross Domestic Product, or GDP, of that nation. GDP can be estimated quarterly in addition to annually, which is how it is often done.
For instance, the US government makes a GDP estimate available for both the entire year and each quarter. A country's GDP is sometimes seen as a scorecard for its economic health because it provides a wide evaluation of that nation's productivity.
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Suppose the required reserve ratio is 20%. If banks are conservative and choose not to loan all of their excess reserves, the real-world deposit multiplier is
The deposit multiplier will be less than 5 if the bank decides not to loan out all that the reserve requirements would permit.
What is required reserve ratio?
The percentage of deposits that a commercial bank must retain in reserve is known as the required reserve ratio. Money that is being held in reserve cannot be borrowed or invested. The reserve requirement and reserve deposit ratio are other names for the needed reserve ratio. All American commercial banks' required reserve ratios must be established by the Federal Reserve. The statutory reserve ratio aids in ensuring that commercial banks have sufficient reserves to satisfy obligations and consumer withdrawals. Additionally, it encourages a reliable banking system.
One of the various tools the Federal Reserve employs to carry out monetary policy is the required reserve ratio. The necessary reserve ratio is a tool that the Federal Reserve can use to affect the money supply and interest rates. The required reserve ratio may be lowered by the Federal Reserve in order to expand the money supply. As a result, the money supply would expand and commercial banks would be able to loan out more money. The required reserve ratio can be increased by the Federal Reserve in order to reduce the amount of money in circulation. As a result, commercial banks would be able to lend out less money, which would lead to a fall in the money supply.
The amount lent out if the bank lends the maximum amount that a reserve ratio will permit is:
Multiplier= [tex]1/0.20=5\\[/tex]
The deposit multiplier will be less than 5 if the bank decides not to loan out all that the reserve requirements would permit.
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the times interest earned ratio reflects: multiple choice the relation between income and assets. a company's profitability. a company's ability to pay its operating expenses on time. the relation between assets and liabilities. a company's ability to pay interest.
The times interest earned ratio reflects: A company's ability to pay interest.
What does Interest rate mean?
Interest rate is a fee charged for borrowing money that is usually expressed as a percentage of the amount borrowed. It is the cost of borrowing money and is usually paid on a monthly basis over the life of the loan. Interest rates are classified into three types: nominal interest rates, effective interest rates, and real interest rates.
What are Nominal Interest Rate?
The nominal interest rate is the interest rate before inflation is factored in. It is a percentage of the amount borrowed or lent that the borrower pays to the lender as a loan fee. It is usually expressed as a yearly percentage of the principal amount. The stated rate on which interest payments are calculated is simply the nominal interest of an investment or loan.
Therefore the option D. A company's ability to pay interest is the correct answer.
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taylor is about to go car shopping, and she has $5000 saved that she can use for a down payment while still having extra cash in her emergency fund. she expects the exact model car she's looking for to cost $35,000. if her top priority is having the lowest monthly payments possible, which advice should she follow?
The most ideal choice for Taylor is put in $5000 for your upfront installment, and pick a credit with a drawn-out length.
What is credit?
Credit is the loaning of cash by at least one person, association, or different substances to others, associations, or different elements in finance. The beneficiary (i.e., the borrower) causes an obligation and is normally expected to pay interest on that obligation until it is reimbursed, as well as reimbursing the chief sum acquired.
The record confirming the obligation (for instance, a promissory note) will ordinarily indicate the chief sum acquired, the financing cost charged by the loan specialist, and the date of reimbursement.
For this situation, picking a drawn-out reimbursement plan will make it simpler to take care of.
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consider a logging company which clear cuts all of the forests it owns so that it can increase its sales. on the land where the trees once stood there is erosion which flows into streams killing all the fish. the logging firm is seen as contributing to market failure. why?
Erosion on the area where the trees once were is killing all the fish in the streams by flowing into them. The logging company is considered to be a part of the market failure.
When products and services are distributed inefficiently in the free market, this is referred to as market failure in economics. A market that functions optimally has forces of supply and demand that are counterbalanced, with a change in one side of the equation causing a change in price that preserves the market's equilibrium. However, something disrupts this balance in a market failure.
The individual incentives for rational behaviour do not result in rational outcomes for the group when markets fail. To put it another way, each person makes the best choice for herself, but the group as a whole suffers as a result.
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if total revenue exceeds fixed cost, a firm a. should produce in the short-run. b. has covered its variable cost. c. is making short-run profits. d. may or may not produce in the short-run, depending on whether total revenue covers variable cost.
A company is producing short-term profits if its overall revenue is greater than its fixed costs.
An economic profit is made by the company when total revenue exceeds the entire costs. When the difference between total income and the total cost is the biggest, which is at 10 cans each day, the profit is maximized.
The business would have a greater economic loss if total revenue was less than total variable costs. So the company would briefly stop operations. The biggest economic loss the company will experience is fixed costs. When price equals average variable cost, the firm's economic loss is equal to the total fixed cost.
Increasing revenue could result in higher costs and lower profit margins. Cost-cutting measures may lead to decreased sales as well as reduced profit margins if market share is eventually lost.
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which financial institution can issue loans but cannot accept deposits? finance company or insurance company
Finance company can issue loans but cannot accept deposits.
An organization that lends money to people and businesses is a finance company. A finance firm, unlike a bank, does not accept customer cash deposits and does not offer certain banking services like checking accounts.
Customers of finance businesses can borrow money from them, and their interest rates are often higher than those of banks. Finance corporations make money from this loan interest. Many consumers turn to financing companies for loans because of their low credit histories. These borrowers provide collateral to secure their loans, generally by promising to deliver important personal assets to the lender in the event that the loan is not returned.
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if a bank relies solely on purchased liquidity, the bank will likely: multiple choice be required to borrow money at short notice. maintain large amounts of liquid assets. be forced to liquidate liabilities at fire-sale prices. be required to raise equity capital quickly. fund its loan commitments with asset sales.
If a bank relies solely on purchased liquidity, the bank will likely "be required to borrow money at short notice."
Purchased liquidity When a financial organization controls liquidity risk through capital market borrowing, this is called management. This can be accomplished by either issuing debt instruments or borrowing from other banks via interbank fund markets.Because it is the easiest asset to utilize, cash is regarded as the most liquid. Money might be in the form of coins, bills, or the amount in a checking or savings account. Cash is highly helpful for paying for urgent necessities and costs, such as rent and emergency savings.Banks manage their liabilities while maintaining a reserve of liquid assets, which includes government bonds. The maturity ladder or profile is a part of liability management.Thus the correct option is A.
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In the long run, a profit-maximizing monopolistically competitive firm sets it price Multiple Choice above marginal cost. below marginal cost. equal to marginal revenue equal to marginal cost.
In the long run, a profit-maximizing monopolistically competitive firm sets its price equal to marginal revenue equal to marginal cost. The correct option is C.
What happens to a monopolistic competitive firm in the long run?Long-term economic gains or losses in monopolistic competition will be eliminated by entry or exit, leaving firms with no economic gains. There will be some excess capacity in a monopolistically competitive industry; this could be seen as the price paid for the variety of products that this market structure brings about.
By equating marginal cost and marginal revenue in a monopolistic market and solving for the cost of a single good and the necessary production volume, a firm can maximize its overall profit.
Thus, the ideal selection is option C.
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f real income has risen by 3 percent, the interest rate is 2 percent and nominal income has risen by 3 percent, what is inflation?
The inflation is 0% when real income has risen by 3 percent, the interest rate is 2 percent and nominal income has risen by 3 percent.
What is inflation?A rise in prices is referred to as inflation, which is also known as the gradual loss of purchasing power. The average price increase of a basket of chosen products and services over a certain period of time can be used to gauge the rate at which buying power is Deflation. A unit of money now effectively buys less than it did in earlier periods due to price increases, which are frequently stated as inflation. Deflation, on the other hand, contrasts inflation by resulting from a drop in prices and a gain in purchasing power.
Individual product price inflation over time are simple to track, but human requirements go beyond the scope of just one or two things.
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What is the purpose of a charitable organization?
Answer:
The purpose of a charitable organization is to promote the well-being of individuals and communities by providing services, resources, and support to those in need.
when you give a clerk a $20 bill and receive a pair of shoes in return, money is serving which function?
Medium of exchange , A medium of exchange is a device or system that facilitates the sale, purchase, or transfer of products between persons.
A system must represent a standard of value in order to serve as a medium of exchange. Additionally, all parties must accept that standard.
Money serves as a means of exchange, allowing people to exchange products and services with one another. It also functions as a value storage, allowing people to accumulate money through time.
Finally, it serves as a unit of value, allowing individuals to compare the worth of various products. Grant Sanderson created it.
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compute the direct materials price and quantity variances and explain their significance. compute the direct labor rate and efficiency variances and explain their significance. compute the variable manufacturing overhead rate and efficiency variances and explain their significance.
Quantity variance is a measurement you can use to investigate the distinction between what you assume to use (general amount) and what you virtually use (real amount) in the production manner. trendy gadgets are estimates based totally on the bills for substances or components.
Rate variance is the real unit fee of an item less its standard fee, improved by the number of real units purchased. the usual fee for an item is its expected or budgeted fee-based totally on engineering or manufacturing records.
For example, if you finance for income to be $10,000 and real income is $8,000, variance analysis yields a distinction of $2,000. Variance evaluation is particularly powerful while you review the amount of variance on a trend line so that unexpected adjustments in the variance stage from month to month are greater conveniently apparent.
The charge of a great carrier in a marketplace determines the amount that clients demand. Assuming those non-fee elements are removed from the equation, a better fee affects in a lower amount demanded and a decreased fee affects in higher quantity demanded.
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china has surpassed the united states in exporting information-technology goods, such as laptop computers, mobile phones, and digital cameras.
a. true
b. false
China has surpassed the united states in exporting information-technology goods, such as laptop computers, mobile phones, and digital cameras is true.
How do exports and imports differ?Selling products and services to another country from one's own country is known as exporting. Purchasing goods from abroad and bringing them into your own country is referred to as importing.
How do exports affect the economy?Movable goods produced inside the borders of one country and exported to another are considered exports. The sale of these products generates revenue in foreign currencies, which helps the nation that produces them grow economically.
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you plan to explain to the employees that the workshop will be engaging. it will include a variety of activities, including short videos, simulations, and hands-on activities. you will emphasize that the workshop will move quickly from activity to activity. this will most appeal to what type of learner?
You intend to inform the staff that the workshop will be interesting and feature a variety of activities, including quick videos, role-playing games, and hands-on activities. Kinesthetic learners will find this to be the most appealing.
Seminars and workshops can address frequent issues or problems that business professionals may experience. Participants can share their ideas and insights on how to solve the issue, which can provide a new angle on approaching the issue.
It is designed to provide a setting where a group of people can come together to talk, brainstorm, identify issues, make decisions, and develop solutions. Often, this space is absent from the hectic daily work schedule.
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Members of the service corps of retired___are retired local businesspeople who volunteer their services to counsel and mentor new business owners.
Members of the Service Corps of Retired Executives are retired local businesspeople who volunteer their services to counsel and mentor new business owners.
Who are the Members of the Service Corps of Retired Executives ?Members of the Service Corps of Retired Executives can be defined as those people that help to advices and mentor new business owners so as to enables them to succeed in their various business.
Service Corps of Retired Executive are as well know as a Small Business Administration that offers vital or essential information for small business owners.
Therefore the statement that filled the gap is executives.
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the production budget shows expected unit sales of 37000. beginning finished goods units are 3200. required production units are 38600. what are the desired ending finished goods units
3200+38600 = 41800 - 37000 = 3000 is the the desired ending finished goods units
The cost of the completed goods inventory at the conclusion of each budget period is determined by the ending finished goods inventory budget. The unit quantity of finished goods at the end of each budget period is also included, although the production budget is the true source of that data.
The company places a lot of importance on the ending finished goods inventory budget because it can calculate the value of each unit produced based on the cost of raw materials, direct labor, and overhead.
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Help Which of the following would not be used in preparing a cash budget for October? Multiple Choice Budgeted salaries expense for October. Estimated depreciation expense for October. Budgeted capital equipment purchases for October. Beginning cash balance on October 1 Budgeted sales and collections for October
The correct answer is b. Estimated depreciation expense for October. The balance sheet shows accumulated depreciation, while the income statement shows depreciation expense.
A fixed asset's share that has been deemed consumed in the current period is subject to depreciation expense. The cost is subsequently added to the expense list. With this charge, the carrying amount of fixed assets will be steadily decreased as their value is depleted over time. The cost of depreciating a company's assets over a specific time period is known as a depreciation expense (e.g,, quarter or the year). On the other hand, accumulated depreciation is the total amount that a business has already depreciated its assets. Depreciation is regarded as an expense for accounting reasons because it increases a company's operating costs. Machines and other assets undergo wear and tear over the course of their useful lives and lose value as a result. The expense of depreciation is shown on the income statement.
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use goal seek to achieve a $0 balance by changing the ticket price per person.
You must have a formula in place that figures the amount based on the cost per person of the tickets in order to use Goal Seek to attain a balance of $0.
The ticket price that will result in a $0 balance can be found using the Goal Seek tool after you have that formula.
You need formulas for the total income, total expenses, and balance in order to generate a one-variable data table. You can then enter cell references to those formulas in cells F2, G2, and H2, respectively. The total revenue, total expenses, and balance for each value in the series will then be determined by the data table using the numbers in column E.
Once the data table has been produced, you can use it to rapidly evaluate how altering the per-person ticket price impacts the total revenue, total outlay of funds, and balance. This can assist you in choosing the best ticket price.
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