Answer:
Explanation:
Cash =8000
Prepaid rent = 23,000
Land = 445000
Accounts payable = 12,000
Salaries payable = 20,000
Retained earnings = 109,000
Dividends = 14,000
Service revenue = 340,000
Salaries expenses = 160,0000
Rent expenses = 29,000
Utilities expenses = 32,000
Net income = Service revenue - Salaries-Rent-Utilities-
=340,000-160,000-29,000-32,000 = 119,000
Journal
1. Debit Service revenue - 340,000
Credit income summary - 340,000
2, Debit Income summary - 221,000
Credit Salaries expenses 160,000
Credit Rent expenses 29,000
Credit Utilities expenses 32,000
3 Debit Income summary 119,000
Credit retained earnings 119,000
4 Debit retained earnings 14,000
Credit retained earnings 14,000
Define Red Gross Society.
Answer:
did you mean red cross?
Explanation:
It is an international humanitarian organization established by Geneva Organization to provide medical care.
Here is some basic data for Delta Manufacturing: Cost of materials purchases on account $ 77,000 Cost of materials requisitioned (includes $2,000 of indirect) 45,000 Direct labor costs incurred 80,000 Manufacturing overhead costs incurred, including indirect materials 98,000 Cost of goods completed 276,600 Cost of goods sold 149,000 Beginning raw materials inventory 19,000 Beginning work in process inventory 35,000 Beginning finished goods inventory 25,000 Predetermined manufacturing overhead rate (as % of direct labor cost) 120% The journal entry to record actual manufacturing overhead costs includes a
Answer:
Overheads $498,000 (debit)
Cash $498,000 (credit)
Explanation:
First calculate the Amount of Actual overhead incurred (overheads are indirect manufacturing costs)
Manufacturing overheads incurred = $498,000
Journal Entry
Overheads $498,000 (debit)
Cash $498,000 (credit)
This journal is different from that of recording applied overheads which is shown as follows :
Work - In - Process $ 96,000 (debit)
Overheads $ 96,000 (credit)
Overheads amount = 80,000 × 120% = $ 96,000
A down payment is usually what percentage of the asking price of a home?
05 percent
5-20 percent
20-50 percent
50-75 percent
A down payment is usually what percentage of the asking price of a home is 5-20 percent. People take out a loan to cover the remainder of the purchase price of the Home.
What is down payment?
A down payment is a sum of money given by a buyer at the beginning of the buying process for a costly item or service.
Because the down payment is only a portion of the total purchase price, the buyer will almost certainly need to borrow the balance.
Thus, option B is correct.
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Answer: B or 5–20 percent
A down payment is usually what percentage of the asking price of a home?
0–5 percent
√5–20 percent
20–50 percent
50–75 percent
Explanation:
Woodsmith magazine gave instructions on how to build a pine cupboard. Lumber will be needed for two shelves 1134 inches long, two base sides 1112 inches long, and two door stiles 2918 inches long. Your lumber comes in 6 foot lengths. A. How many feet of lumber will you need? (Enter your fraction in lowest terms.)
Answer:
Hi there!
You'll need 860.67 feet of lumber.
Explanation:
First we calculate the needs of lumber in inches
Shelves: 2 x 1,134 = 2,268 inches
Base Sides: 2 x 1,112 = 2,224 inches
Door stiles: 2 x 2,918 = 5,836 inches
Total inches long of lumber needed:
2,268 + 2,224 + 5,836 = 10,328 inches
Then we convert the unit of measure from inches to feet:
One inch equals 0.08333 feet.
10,328 x 0.08333 = 860.67 feet
explain advertisement
Answer: Advertisement is a marketing communication. It is used to promote businesses and their products. Used to promote more effectiveness in a businesses profit and their sales. May be seen in the form of commercials or billboard announcements in everyday life.
Ayayai Corp. bought equipment on January
1, 2017. The equipment cost $470000 and
had an expected salvage value of $70000.
The life of the equipment was estimated to
be 6 years. The depreciable cost of the
equipment is
Answer:
The depreciable cost of the equipment is $400,000
Explanation:
In this question, we are tasked with calculating the depreciable cost of the equipment bought
To calculate this, we simply engage the use of a mathematical relation
Mathematically;
Depreciable cost = Original Cost - Salvage value
From the question, the original cost is $470,000
The salvage value = $70,000
Inputing these values into the equation, we have
Depreciable cost = $470,000 -$70,000 = $400,000
According to Keynesian theory, what is the most important determinant of households' spending on goods and services
A) Autonomous consumption
B) Government spending
C) The price level
D) The interest rate
E) Disposable income
Businesses in the nation of Islandia have been accumulating cash because they have a pessimistic outlook of the national economy. Recent changes in the economic outlook of Islandia have caused business leaders to begin to invest some of their accumulated cash. Suppose that businesses in the country invest a total of $20 billion of this cash. (a) What would be the maximum expected change in GDP if Islandia's marginal propensity toconsume (MPC) is 0.75? (b) Suppose that the recent economic outlook in the country of Mountainia has been the opposite.Businesses have postponed planned investments and have begun to accumulate cash. Ifbusinesses in Mountainia postpone $10 billion of their planned investments, what would be themaximum expected change in GDP if its marginal propensity to save (MPS) is 0.25?
Answer:
Please see answer and explanation below.
Explanation:
A. Since MPC is 0.75, therefore MPS would be 0.25 (i.e 1-MPC, 1-0.75)
The multiplier will now be(1/MPS) 1/0.25=4
It therefore follows that if investment increases $20billion, aggregate demand will also increase by $80billion(i.e 20 × 4). This means $60billion in consumption and $20billion in investment.
B. Since MPS is 0.25, Multiplier would therefore be 1/0.25(1/MPS) = 4
It therefore follows that if $10billion planned investments is postponed, the aggregate demand would decrease by $40billion( i.e 10 × 4 )
Meaning that there would be $30billion in consumption and $10billion in investment.
Explain in three sentences what “a decision to communicate constructively” means
A decision to communicate means to communicate positively, offering help and support, and it doesn’t involve criticism and dispiriting. It a method of communicating more effectively and efficiently. In addition, communicating constructively is a way to present your points to a person or audience so they can understand them.
2. Lessack Auctioneers advertised an auction sale that was open to the public and was to be conducted with a reserve price of $150. Gordon attended the auction and bid $100 for a work of art that was worth much more. No higher bid, however, was made. Lessack refused to sell the item for $100 and withdrew the item from the sale. Gordon claimed that because he was the highest bidder, Lessack was required to sell the item to him. Was he correct? Explain
Answer:
No
Explanation:
There was a reserve on the item which means the seller refuses to sell for a price lower then a certain price.
No, Gordon's claim is not correct because if the reserve price is not met, the seller is under no obligation to sell the item to the highest bidder. As a result, some buyers dislike reserve prices because they encourage bids that may not be successful.
What are the advantages of an auction?Through competitive bidding, an auction generates fair market value, allowing you, the buyer, to make an informed purchasing decision with a seller who is eager to sell. The market value is determined by buyers. Auctions allow for a quick purchase and eliminate the need for lengthy negotiations.
If a minimum bid is not met by any of the bids present at an auction, the auctioneer may 'pass in the property, which means that it has not sold. If this occurs, the winning bidder is usually decided to invite to start negotiating with the seller to see if the sale can still be completed.
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A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank's charges (Y)measured in dollars per monthfor services rendered to local companies. One independent variable used to predict service charges to a company is the company's sales revenue (X)measured in millions of dollars. Data for 21 companies who use the bank's services were used to fit the model: The results of the simple linear regression are provided below. Referring to the equation above, interpret the estimate of 0, the Y-intercept of the line. For every $1 million increase in sales revenue, we expect a service charge to decrease $2,700. There is no practical interpretation since a sales revenue of $0 is a nonsensical value. About 95% of the observed service charges fall within $2,700 of the least squares line. All companies will be charged at least $2,700 by the bank.
Answer:
The correct option is (b).
Explanation:
The regression equation to predict the bank's charges (Y) measured in dollars per month for services rendered to local companies based upon the company's sales revenue (X) measured in millions of dollars is:
[tex]\hat Y=-3100+27X[/tex]
The y-intercept of the line is, -3100.
The slope of the line is, 27.
The y-intercept of a regression line is defined as the average value of the dependent variable when the independent variable value is 0.
The dependent variable, in this case, is the bank's charges and the independent variable is the company's sales revenue.
As the company's sales revenue cannot be $0, the y-intercept cannot be interpreted.
Thus, the correct option is (b).
A large company issues stock. The company selling the stock often distributes profits by issuing to its shareholders.
Answer:
Following are the answer to this question:
Explanation:
It is an Act, in which an individual disposes or sells equity shares. Any reasons for selling stocks involve income, reducing losses, or access to money. There is indeed a big corporation of blue-chip stocks. In the stock marketing firm commonly allocates profits towards its stockholders whilst also releasing dividend payments.A major, well known, and financially sound company, which is in business for many years is a blue-chip stock.Answer:
The answers are - blue chips and dividends.
Explanation:
Is South Korea one of the fastest-growing Asian country
Answer:
yes, it is
Explanation:
It has one of the largest economies in the world
Construction of new homes decreases. This will cause the demand curve to shift ___________ for complimentary goods used to build the homes such as timber.
Answer:
to the left
Explanation:
When the construction of new homes decreases, the demand curve for complimentary goods used to build homes shift to the left as a result of a decrease in their demands.
The demand curve is a graph that shows the demand for a product in relation to the price of the product at a specific point in time. When the demand for a product increases, the curve shifts to the right, and when it decreases, the curve shifts to the left.
Complementary goods are goods that are required in conjunction with other goods or services. For example, timbers are required for buildings, hence, they timbers serve as complementary goods to buildings.
When the construction of new homes decreases, it means there will be less demands for timbers and as such, the demand curve will shift to the left.
In two to three sentences, answer the following:
What information you can obtain from a stock quote?
Answer:
The information that we can get from stock quote is about bidding price, details of previous bidding, etc.
Explanation:
A stock quote can be defined as the last price of stock of exchange. It is the price on which the traders and the buyers consented in their last trade or exchange.
The details that a stock quote provides is the price of last bid, volume of trade, bid price, volume of trade. The buyers and traders can access this information either on their phones, newspapers, news media, online portals etc. The stock quote is shown in decimals.
Carmax is a national chain that sells used cars. the likely impact of its arrival in the market would be to _____. everything else held constant, this would likely _____ the price of used cars.
Answer:
1. shift the supply of used cars to the right
2. lower
Explanation:
1. With carmax's arrival in the market this has caused the number of sellers to increase thereby shifting the supply curve to the right. An increase in the number of sellers increases the quantity supplied at each price.
2. Since the supply of used cars have increased and demand remains the same, there will be a surplus in the market for used cars resulting in lowered prices of used cars.
Only 3 days after the attacks of 9-11, Northwestern Mutual began providing death benefits to surviving families of the first responders who were killed in the line of duty, although official death certificates had not yet been issued. Other insurance companies took months to a full year to process similar claims for their customers. In this example, Northwestern Mutual demonstrated the service quality of _____________, fill in the blank, to its customers.
Answer:
Empathy
Explanation:
Empathy is the ability of a person of business entity to understand the thoughts, feelings, and emotions of their customers. It is the ability to personalise the customer's situation.
This makes the business go the extra mile in solving the customer's problem.
In this scenario Northwestern mutual felt the pain and understood the financial needs of the families of first responders during the 9-11 attack.
So without official death certificates they paid death benefits only 3 days after the attacks.
Other insurance companies however did not empathise with their customers and only paid death benefits some months to a year.
which of the following will increase investment spending
A) More optimistic business expectations
B) An increase in interest rates
C) Ann increase in business taxes
D) A decrease in capacity utilization
E) All of the above
Answer:
E
Explanation:
All the suggested options can increase investment spending
Investment spending is the money spent towards business expansion in the area of acquiring capital goods such as plant and machinery or goods used in the production like the raw materials.
Optimistic business decision : Leads to more investment in potential business opportunities
Increase in interest rates : As funds are borrowed to finance investment , increase interest rate will increase spending.
Increase in business taxes : This means that companies will have to pay more on taxes
Decrease in capacity utilization : This will lead to the acquisition of more machinery and investment spending increase
Answer:A More optimistic business expectations
Explanation:
A p e x
this is for you so i dont feel bad
1 point
10. In reviewing your account statement, you see a Balance Transfer Fee.
Based on the information you see in the statement, what would be the fee
if you transferred $3,000 from another credit card? *
Answer:
Find attached statement and the question which question number 10.
The correct option is C,$90
Explanation:
In the statement you would notice that the balance transfer from another credit card was $785,upon which balance transfer levy of $23.55 was charged(Section 7)
Intuitively, the percentage of balance transfer charge is $23.55 divided by the amount of balance transfer i.e $785
balance transfer charge(%)=$23.55/$785=3%
However, if the balance transfer were $3000,the charge is 3% of $3000 i.e $90 ($3000*3%).
The correct option then is C,$90
Board of directors of 'Fairdeal limited' has formulated a policy for human resources development. According to this policy, certain standards will have to be taken in consideration prior to the appointment of persons in the company. Some of the main standards are: existin employees of the company should be motivated,selection should be riskless and should not need any induction. Identify the source of employment adopted by Fairdeal Ltd.
Answer:
Internal employment source
Explanation:
When a company chooses from among its existing employees to fill up open job position it sourcing internally, however if it recruits from outside the organisation it is an external employment source.
Therefore, the policy decision of the Board of directors of 'Fairdeal limited' adopted the internal employment sourcing.
Which of the following is NOT a type of bank or banking system? Northern Credit Union Central Commercial
Answer:
Credit union
Explanation:
A credit union is technically not considered a bank, unlike the other answer choices, because credit unions are not-for-profit. Banks, of course, take te money in checking accounts and use it for their own ends, but credit unions are just groups that provide mutual benefit to those who use them.
years will be to the
On a timeline, a goal that will be achieved in
right of one that will be achieved in
years.
A. 16; 12
B. 8; 16
C. 12; 16
D. 8; 12
This question is a bit disorganized and incomplete; here is the complete and organized question:
On a timeline, a goal that will be achieved in _____ years will be to the right of one that will be achieved in _____ years
A. 16; 12
B. 8; 16
C. 12; 16
D. 8; 12
The correct answer is A. 16; 12
Explanation:
The purpose of a timeline is to represent a set of events during time by placing these on chronological order from left to right. This means in the case of goals, these will be organized from the goal that is closest in the future to the one that will take the most time. For example, if one of the goals is to buy a house in 10 years, this should be placed to the right of goals such as getting a degree in 2 years or buying a car in 3 years. Thus, a goal that takes 16 years should be placed to the right of a goal that takes 12 years in a timeline.
Answer: 14;10
Explanation:
A p e x
Norris has a deductible of $1,000. He damages his car in an accident and it will
cost $3,300 to repair.
How much does Norris have to pay?
9514 1404 393
Answer:
$1000
Explanation:
Norris must pay the deductible, $1000.
Answer:
$1000Explanation:
#CARRYONLEARNINGTaxes are often ovved on?
initial investments,
the current value of investments.
the real value of investments,
investment returns.
Answer:
Investment returns
Explanation:
Tax is a compulsory levy imposed by the government on an individual, firms etc for the provision of infrastructure.
Generally speaking, taxes are paid as soon as money is earned. While some taxes are due for payment when investments are sold at a profit, others like dividend , mutual funds are due when distribution is paid on the investment.
The ratio of gain or losses on an investment is referred to as investment returns. The returns could be higher which means profit hence must be taxed. It could also be the other way round,i.e lower returns . In such situation, loss is incurred on the investment and it is not taxed same way as having profit on the investment.
D. investment returns.
Landon jewelers uses the perpetual inventory system. on april 2, landon sold merchandise with a cost of $2,500 for $7,000 to a customer on account with terms of 3/15, n/30. the journal entry to record the cost of goods sold would be:
Answer:
Dr Cash $6,790
Dr Sales discount $210
Cr Accounts Receivable $7,000
Explanation:
Cost of goods sold by Landon Jewelers is $7,000
The cost is subject to 3/15, n/30 meaning that 3% will discount will be applicable if payment is made in 15 days. Where the balance is not paid within 15 days, it must however be paid within 30 days.
Since payment was made to Landon Jewelers within the 15 days grace, 3% deduction will be applicable to the payment.
Therefore Sales discount would be ;
= $7,000 × 3%
=$210
Balance paid in cash would be;
=$7,000 - $210
=$6,790
Journal entry for cost of goods sold would be;
Dr Cash $6,790
Dr Sales discount $210
Cr Accounts Receivable $7,000
Sales discount is an expense hence debited while the whole amount is credited to accounts receivable.
What does the Paradox of Value explain
Answer:
The paradox of value (also known as the diamond–water paradox) is the contradiction that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a higher price in the market.
Explanation:
In one or two sentences, explain why people will do less of an activity when the marginal costs are greater than the
marginal benefits.
Answer:
Marginal cost is defined as the additional cost incurred in adding a unit of product or service.
Marginal benefit is defined as the additional satisfaction or utility that the individual receives from consuming the added unit of product or service.
In every endeavor, we weigh the benefit and cost of a certain product, course of action or service. We aim to get the most out of every product or decision. We are driven to reach maximum profit at a minimum cost. Thus, when the marginal cost is greater than the marginal benefit, people will do less of an activity because it is not profitable.
Explanation:
A company sells a plant asset that originally
cost $528000 for $194000 on December
31, 2017. The accumulated depreciation
account had a balance of $264000 after
the current year's depreciation of $44000
had been recorded. The company should
recognize a
Answer:
The company should recognize a loss of $70,000
Explanation:
Here in this question, we shall be evaluating what should be recognized in the transaction books of the company as a result of the sales of one of its plant asset.
The first thing to do here is to calculate the book value of the plant asset.
Mathematically, the book value of the plant asset = Original cost of plant asset - Accumulated depreciation value
from the question; the original cost is $528,000
while the depreciation value is $264,000
Thus, the book value of the plant asset = $528,000 - $264,000 = $264,000
Now since the company sold the plant asset at a value of $194,000, which is less than the book value of the plant asset, the company should recognize a loss
The amount of the loss = Amount at which the sold - book value of the plant asset
= 194,000 -264,000 = -70,000
Thus the company should recognize a loss of $70,000
Question 6 of 10
3 Points
A body of the letter is composed of the:
Answer:
Introduction
The body of the letter is usually divided into the three paragraphs (one is the introduction, then supporting details, then conclusion of topic).
