Willow rentals purchased office supplies on credit. the general journal entry made by willow rentals will include a: Credit to accounts payable.
Debit and credit are terms used by bookkeepers and accountants when recording transactions in the books of account. The amount of each transaction must be entered in one account as a debit (to the left of the account) and in another as a credit (to the right of the account). This double-entry system ensures the accuracy of accounting records and financial statements.
The initial challenge was to figure out which accounts would have debit entries and which would have credit entries. Before explaining and illustrating debits and credits in accounting and bookkeeping, we will discuss the accounts where debits and credits will be posted or posted.
To organize a company's financial data, accountants have developed a system for organizing transactions into records called accounts. When setting up a company's accounting system, the accounts most likely to be affected by the company's transactions are identified and listed.
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Assume+you+purchased+200+shares+of+ge+common+stock+on+margin+at+$70+per+share+from+your+broker.+if+the+initial+margin+is+55%,+how+much+did+you+borrow+from+the+broker?+group+of+answer+choices
The amount borrowed from the broker = 6300
The amount borrowed from the broker = 200**70*(1-0.55) = 6300
Rate of return = (sale value - loan-Initial investment)/Initial investment = -41.67%
(13500-7200-10800)/10800
Initial investment = 300* 60 * 0.6 = 10800
Loan=300*60* (1-0.60) = 7200
sale value=300*45 = 13500
A broker is an intermediary between those who want to make trades and invest and the exchange in which those trades are processed. You need a broker because stock exchanges require that those who execute trades on the exchange be licensed.
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When firms in a market expect the price of their product to rise, the supply curve of their good:_________
When firms in a market expect the price of their product to rise, the supply curve of their good rise upward from left to right.
The supply curve depicts the relationship between the cost of a good or service and the quantity supplied over a given time period. The supply curve will rise from left to right, expressing the law of supply: as the price of a given commodity rises, so will the quantity supplied (all else being equal).
Some features of supply curve are as follows:
On most supply curves, as the price of a good rises, so does the quantity of goods supplied.Supply curves can often predict whether a commodity's price will rise or fall in response to demand, and vice versa.For products with more elastic supply, the supply curve is shallower (closer to horizontal) and steeper (closer to vertical) for products with less elastic supply.The supply and demand curves are essential components of the law of supply and demand.Learn more about supply curve here:
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The accounting equation remains in balance for every accounting transaction because of the dual effects concept whereby something of equal value is received and given in exchange. True or false
The given statement is true.
The balance sheet is where the accounting equation is recorded, where the quantity of total assets should match the sum of the company's liabilities and equity and the owners equity of a person or business. The duality principle is another name for the dual aspect notion. Assets are calculated by the sum of liabilities and Equity.
According to the Dual Aspect Concept, each transaction must be documented in two separate accounts to accurately reflect the movement of funds. The Idea serves as the cornerstone of double-entry accounting. Use a dual-entry accounting system if you want your financial statements audited.
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Gold corp. has an roe of 8 percent and a payout ratio of 16 percent. what is its sustainable growth rate?
Hence the sustainable growth rate is 6.72%
Given:
ROE= 8%
PAYOUT RATION= 16%
Sustainable Growth Rate:
SGR= ROE×(1−PayoutRatio)
Substituting the values we have:
SGR= 8%×(1−0.16)
SGR = 6.72%
Hence the sustainable growth rate is 6.72%
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A payday loan company charges 6 percent interest for a two-week period. what would be the annual interest rate from that company?
A payday loan company charges 6 percent interest for a two-week period. The yearly interest rate is 156% if the company charges 6% interest.
What is Interest Rate?An interest rate is the portion of the principal that the lender charges for the usage of its funds. The loaned sum of money is known as the principle.
The price of loans is impacted by interest rates. They can therefore make the economy grow or shrink. To promote the best possible economic growth, the Federal Reserve controls interest rates.
The cost of borrowing money or the incentive to save it is represented by an interest rate. It is determined as a percentage of the borrowed or saved sum.
When you take out a mortgage on a home, you borrow money from banks. A car, an appliance, or education financing are all possible with other loans. Banks borrow money from you in the form of deposits, and they compensate you for the use of the funds deposited by paying interest.
Loans are funded with the money from deposits.
Banks charge depositors a somewhat lower interest rate than they do borrowers. Their profit accounts for the discrepancy. Interest rates remain in a small range because banks compete with one another for both depositors and borrowers.
Therefore, Interest is the charge for borrowing money.
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Which combination of shifts of aggregate demand and supply would definitely cause an increase in real gdp?
The demand shifts to right and supply shifts to the right.As a result, aggregate demand and GDP increase or decrease together.
Productivity increase is ultimately the most significant factor affecting the Supply curve. How much production can be produced with a given amount of work is known as productivity in the economics world. GDP per capita, which is one metric for this, is production per worker. Productivity increases throughout time, allowing the same amount of work to create more output.
Because businesses may produce more output at all price levels with increased productivity, the Supply curve moves to the right as productivity rises.
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When you are bidding during a treasury auction, what must you consider if you enter a higher price?
Bidding during a treasury auction, The yield will be higher must you consider if you enter a higher price.
Why are Treasury auctions important?
Treasury auctions encourage broad, competitive bidding and active secondary market trade in an effort to reduce the cost of financing the national debt. How these goals have been attained can be seen by reviewing the entire auction process, from the declaration of a new issue to the distribution of securities.
On the news release announcing the results of the auction, customers that submit competitive bids through a direct submitter—such as the Federal Reserve Bank of New York—are referred to as "Indirect Bidders."
Specifically, Treasury notes (T-bills), with maturities ranging from one month to one year, are the subject of a weekly public auction by the U.S. Treasury. Your institution may put in a bid for the security after the auction is announced. With the exception of Cash Management Bills, you can place your bids directly through Treasury Direct, TAAPS, or by arranging to buy securities through a broker, dealer, or financial institution.
Hence, Competitive bidding is limited to 35% of the offering amount for each bidder, and a bidder specifies the rate, yield, or discount margin that is acceptable.
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Are both competition and monopoly detrimental to the effective function of the free market?
while basically competition is essential to the effective function of the market, while monopoly is detrimental to it.
Monopoly is referred to as the inefficient way of distributing goods and services, that's how it obstructs the equilibrium between consumer and producer giving rise to high prices and shortages. Since healthy competition in the market is essential to a well-functioning of the free market ., the economic theory says that when companies in the market have to compete for customers, it leads to higher quality goods, lower prices, and greater variety, services, more innovation. since Competition is crucial not only in the labor market, but also in product markets, when there is competition, it leads to increase compensation and improve working conditions.
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The goal of the consumer in a market economy is to use his or her limited income to buy?
The set of goods and services that maximizes the consumer's total utility.
The goal to maximize utility drives consumer behavior.
What are Consumer Rights?The purpose of consumer rights is to safeguard customers' interests and shield them from unethical actions like hoarding and widespread black marketing. It is crucial that, as a consumer, you remain informed about the caliber, potency, quantity, purity, pricing, and standard of goods and services.Since customers have long been exploited in the marketplace, a widespread effort to stop this practice began in the 1960s and spread across the nation. In the following ten years, several articles were published, and protests took place, giving it a strong shape.To learn more about Consumer Rights, refer to:
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Fancy bags co. Prepaid 5 months of rent on april 1. Monthly rent costs $1,000. What is the balance in prepaid rent at the end of may after adjusting entries are recorded?.
Rent Expense 1,000 Cr. Prepaid Rent 1,000.
How is rent calculated?The rent that landlords demand typically ranges from 0.8% to 1.1% of the value of the property. A landlord might charge between $2,000 and $2,750 per month for a house worth $250,000. It's recommended to charge rent that is close to 1% of your home's value if it is worth $100,000 or less.
Who invented Rent?In economics, the word "rent" was first used by David Ricardo. It refers to the payment made to a production factor that is greater than what is necessary to maintain that factor's current use. So, for instance, if my current work pays me $150,000 but I would stay there for any income over $130,000, I am making $20,000 a month in rent.
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What must a firm keep in mind when taking actions to increase the efficiency of its service package?
A firm should confine mind when taking actions to increase the efficiency of its service package is Standardization may have a negative impact on perceived quality by customers. Streamlining product offerings may reduce customers' desired product options.
What does one mean by standardization?
Standardization is that the process of developing, promoting and possibly mandating standards-based and compatible technologies and processes within a given industry. Standards for technologies can mandate the standard and consistency of technologies and ensure their compatibility, interoperability and safety.
Why is standardization important?
The goal of standardization is to make sure uniformity to certain practices within the industry. Standardization focuses on the merchandise creation process, operations of companies , technology in use, and the way specific compulsory processes are instituted or carried out.
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You+will+require+$700+in+5+years.+if+you+earn+5%+interest+on+your+funds,+how+much+will+you+need+to+invest+today+in+order+to+reach+your+savings+goal?
$548.47 is need to invest today in order to reach your savings goal.
What is initial investment?The sum needed to launch a project or firm is known as the initial investment. It is often referred to as initial outlay or just initial. It is equal to capital expenditures, working capital needs, and after-tax revenues from assets sold or put to other uses.
The upfront costs or initial cash outlay associated with beginning a new project or buying an asset are represented by initial cash flow. Salvage profits from failed initiatives may be taken into account in some projects by subtracting those earnings from the starting cash flow total.
The worth of an anticipated income stream as of the valuation date is known as the present value, sometimes known as the present discounted value. The value of a sum of money today is known as its present value. For instance, if you are promised $110 in a year, the present value is what that $110 is currently worth.
To calculate the initial investment, we need to use the following formula:
[tex]PV= FV/(1+i)^n[/tex]
PV= present value
FV= future value
n= number of years
i= interest rate
[tex]PV= 700/(1.05^5)[/tex]
PV= $548.47
Hence, $548.47 is need to invest today in order to reach your savings goal.
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On june 1, 2022, spk company signed a $100,000, one-year, 6 percent note payable. Interest and principal are due at maturity. What amount will spk record for interest expense in their december 31, 2022 adjusting entries?.
$3500 sum will spk record for interest expense in their december 31, 2022
Interest = $ 6000 for 12 months.
From June to December there will be 7 months due,
therefore 7/12x6000 = $ 3500
An interest expense is the fetched brought about by an substance for borrowed reserves. Intrigued cost may be a non-operating cost appeared on the salary explanation. It speaks to intrigued payable on any borrowings—bonds, credits, convertible obligation or lines of credit. It is basically calculated as the intrigued rate times the exceptional foremost sum of the obligation. Intrigued cost on the salary explanation speaks to intrigued collected amid the period secured by the money related explanations, and not the sum of intrigued paid over that period. Whereas intrigued cost is tax-deductible for companies, in an individual's case, it depends on their purview additionally on the loan's reason.
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The case mentions that deutsche telekom has invested heavily in huawei’s services because it came at a competitive price. Based on what you know about how companies expand internationally, this would be an example of.
As the deutsche telekom has invested heavily in huawei’s services because it came at a competitive price and based on what you know about how companies expand internationally, this would be an example of an outsourcing.
What is an outsourcing?This refers to the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Most time, it is a business practice that are usually is undertaken by companies as a cost-cutting measure, thus, it can affect a wide range of jobs from customer support to manufacturing to the back office.
Therefore, this scenario given would be an example of an outsourcing.
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Craigmont company's direct materials costs are $3,100,000, its direct labor costs total $7,090,000, and its factory overhead costs total $5,090,000. its conversion costs total:_______
Craigmont company's direct materials costs are $3,100,000, its direct labor costs total $7,090,000, and its factory overhead costs total $5,090,000. its conversion costs total: $12,180,000
conversion costs= direct labor costs+factory overhead
=(7,090,000+5,090,000)
which is equal to
=$12,180,000.
direct labor cost is part of wage-invoice or payroll that may be mainly and always assigned to or related to the manufacture of a product, a specific painting order, or provision of a service.
One instance of direct labor costs is the hourly earnings of a great guarantee inspector adjusted to encompass healthcare blessings and short-time period disability. Another instance will be the once-a-year earnings of a welder who works at the manufacturing line of a metallic components production company.
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In a market system, how does society decide who will receive the goods and services produced?.
According to society, it depends largely on how income is distributed.
Income is money that a man or woman or commercial enterprise gets in trade for imparting labor, generating an excellent or provider, or making an investment capital. Individuals usually earn income through wages or income, whilst companies earn earnings from selling goods or offerings above their value of manufacturing.
Numerous combinations of income resources may be used to derive this classification. For instance, on the maximum unique level, the income resources are mixed into five components: wages and salaries, self-employment profits (farm and non-farm), government switch payments, funding profits, and different incomes.
In line with the census, the median household earnings in 2020 become $ sixty-seven,521. A dwelling wage might fall below this variety at the same time as an excellent salary might exceed this quantity. Given this, an amazing income could be $ seventy-five,000.
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Which one of these factors generally has the greatest impact on a firm's pe ratio?
Required rate of return are factors generally has the greatest impact on a firm's pe ratio.
Future business potential for the company have an impact on the PE ratio.
The firm's growth prospects have an effect on the PE ratio.
Due to investors' larger expectations for future growth, the majority of companies have high PE ratios.
The price-to-earnings ratio (PE ratio) compares share price to share earnings. This statistical analysis is frequently used to determine whether a stock has the right market price. This is accomplished by contrasting a stock's PE ratio with a benchmark PE ratio.
The dividend growth model may be used to determine a stock's price in the manner shown below:
Price per share is profits per share times the anticipated dividend payment (required return - growth rate)
When we rearrange the formula above, we get:
Price/earnings per share equals anticipated dividend payment/price per share (required return - growth rate)
Expected dividend distribution divided by PE ratio (required return - growth rate)
With everything else being equal, the PE ratio decreases as the desired return increases.
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Randy has established a successful fast-food restaurant chain named randy’s in the united states. He currently has 12 locations across three states. He’d like to expand his brand to asia, but does not have the capital to do so. He’s also wary of the risk of failure, especially because he is not very familiar with business in asia. If you were consulting randy, what route would you advise against?.
The first thing to do is to consult an economist regarding what steps he should take. then after getting the answer, he can make his own decision, if he wants to take a high level of risk but the return, he gets is also high, then he can borrow money in the bank for capital. but if he doesn't dare to take the risk then he can invest the money he has.
Business risk or also called business risk is the impact or consequence that will be received during the course of a business activity. This has a direct or indirect impact on the decrease in the number of profits, as well as the finances of a company.
Even so, the majority of entrepreneurs will always anticipate the worst possibility that occurs from a business activity. Making the right decisions and having a mature strategy can reduce business risks that may occur in a business activity.
Business owners sometimes do have to take the 'worst' risks available to get bigger profits, compared to taking no risks at all which can actually make the business stagnate or 'stuck'.
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Business owners should maximize economic profits because?
Business owners should maximize economic profit because maximizing economic profit includes setting higher prices and low quantities of products than the competitive market. This can help businesses to become more efficient and to expand on a large scale.
Economic profit is analyzed with accounting profit. Accounting profit is the profit a company shows on its income statement. Accounting profit measures inflow v/s outflow and is part of the required financial transparency of a company. Economic profit not record on company financial statements. It is required by investors.
Economic profit is a type of “what if” analysis. Companies and individuals calculate the future value of economic profit when they are faced with choices and business alternatives.
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Drag the tiles to the correct boxes to complete the pairs.
Match the given situations to the different types of stress that it could cause.
fatigue
environmental stress
internal stress
Al and his colleague are stuck in an elevator for an hour.
Sally's neighborhood is becoming increasingly polluted
because of ongoing construction work.
Ron has to put in long hours of work as his exams are
scheduled next month.
Sonia's company is sending her on an assignment to
London; she has no friends and relatives there.
survival stress
Reset
Next
1000
The situations and the different types of stress that they can cause are:
Al and his colleague are stuck in an elevator for an hour. - internal stressSally's neighborhood is becoming increasingly polluted because of ongoing construction work. - environmental stressRon has to put in long hours of work as his exams are scheduled next month. - fatigue Sonia's company is sending her on an assignment to London; she has no friends and relatives there. - survival stress What are types of stress?There is internal stress which come as a result of us being in situations that we did not expect like being stuck in an elevator. There is fatigue that comes from working for long hours.
Environmental stress comes from us being exposed to stressors from events around us and survival stress relates to moving to a place we are not familiar with.
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Keeping separate financial records for a business and for its owner’s personal belongings is an application of the business entity accounting concept. True or false?.
Keeping separate financial records for a business and for its owner's personal belongings is an application of the business accounting entity concept is a True Statement.
Financial records are written records that detail or attest to business transactions. An accounting department's financial records must be well-organized in order to function. Financial records might comprise invoices and receipts at the most detailed level.
A distinct economic unit known as an accounting entity separates the accounting of specific transactions from those of other subdivisions or accounting entities. A corporation, a single proprietorship, or a subsidiary within a corporation are all examples of accounting entities. To distinguish its assets and liabilities from those of the owner, the accounting entity must maintain a separate set of books or records.
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In france, income taxes are reduced so that individuals will have more income to spend, which in turn will stimulate the economy. This is an example of?
That exemplifies fiscal policy.
Fiscal policy is the use of public spending and taxation to affect the economy, particularly macroeconomic conditions. These include employment, inflation, economic expansion, and the total demand for goods and services.
The government may reduce tax rates or boost spending during a recession to boost demand and the economy. On the other hand, it might increase rates or reduce spending to slow down the economy in order to combat inflation.
Monetary policy, which is implemented by central bankers rather than elected government officials, is frequently contrasted with fiscal policy. John Maynard Keynes, a British economist, is largely credited with influencing U.S. fiscal policy (1883-1946).
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Your bank is offering a certificate of deposit with an apr of 3.85ompounded monthly. what is the effective annual rate?
We were expecting that we kept the interest when we received it while dealing with simple interest. In a typical bank account, any interest that is earned is automatically added to the account's balance, where it is compounded annually. Compounding is the name for this process of reinvested interest.
In essence, exponential growth is produced by interest on interest. When interest on an investment compounds, your initial investment might rise more quickly, which is fantastic. However, it's not so fantastic when compound interest is applied to a loan or credit card debt because you now owe more money.
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Gerritt wants to buy a car that costs $28,000. the interest rate on his loan is 5.43 percent compounded monthly and the loan is for 7 years. what are his monthly payments?
Gerritt wants to purchase a $28,000 vehicle. His loan has a 7.4 year term and an interest rate of 5.43 percent compounded monthly. So $401.43 is his monthly payment.
what is interest?In the fields of finance and economics, interest is defined as the payment of a sum over and above the principle amount (the amount borrowed) at a set rate by a borrower or deposit-taking financial institution to a lender or depositor.interest is different from a charge that the borrower may pay to the lender or another entity.It also differs from a dividend, which is money given to shareholders (owners) by a company from its profit or reserve, but not at a set rate predetermined beforehand, but rather on a pro rata basis as a portion of the rewards received by risk-taking businesspeople when revenue is earned that exceeds all costs.To know more about interest, refer to the following link
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Suppose that professor johnson is negotiating a new contract with the university of wisconsin-madison. If she would like the purchasing power of her income to increase by 2 percent in the coming year, and she expects the inflation rate to be 1. 8 percent over the same period, by how much should she request her income to be increased?.
She asks for an increase in pay of 3.94%.
By inflation, what do you mean?Inflation is the steady increase in prices over a long period of time. Prices have generally gone up or the cost of living in a country has gone up. Examples of broad metrics of inflation include these.
How is the rate of inflation determined?The statisticians compare the index's value over one time period to its value over another period, such as month to month to calculate the monthly rate of inflation, quarter to quarter to calculate the quarterly rate, or year to year to calculate the annual rate.
Which three primary types of inflation are there?The three types of inflation that are sometimes distinguished are demand-pull, cost-push, and built-in. The two inflation indices that are most frequently used are the Consumer Price Index and the Wholesale Price Index.
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A seller buys an item from a manufacturer for $9,500. he increases the cost by 5 percent. what is the markup value? markup = original cost × percentage markup a. $475 b. $595 c. $950
How would capital one merge the codebase of a company they bought into their own codebase?
Capital one merges the codebase of a company they bought into their codebase using the Account Combination feature.
What is Codebase?A codebase is a group of source code used to create a certain software system, application, or software component in software development. As binary library files (object files) and source code files generated by tools (generated files) can be created from the human-written source code, a codebase typically only contains human-written source code files. A source control repository in a version control system is often where a codebase is kept. Source code repositories are mostly used for backups and versioning, as well as to manage different source code versions on projects with several developers and to help resolve conflicts that occur when developers make overlapping patches.To learn more about Codebase, refer to:
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Percent. will the accountant's revenue from his accounting services increase, decrease, or remain unchanged?
Revenue growth is the increase in revenue that your business experiences over a predetermined period of time relative to the same period the year before.
Some of a company's expenses will rise along with an increase in sales or revenues, whereas other expenses won't. For instance, if a business sells a few more items for which it charges a sales commission, both its cost of goods sold and commissions costs will rise. However, even with the sale of a few more products, the salaries of the company's salaried staff and the rent will not go up one penny. Knowing how expenses behave—whether they will rise with rising sales or stay at the current level—can help a company increase its earnings. The objective is to boost sales or revenues by a sum greater than the rise in costs.
The change in a company's sales from one period to the next is known as revenue growth. Revenue growth, when expressed as a percentage, demonstrates the peaks and valleys throughout time and identifies company trends.
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When eaton worked with the university of notre dame on its new engineering building to improve its energy efficiency and earn leed credits, both actors were working together for the first time. Therefore, the university’s buying situation can be classified as a ________.
When Eaton worked with the university of Notre dame on its new engineering building to improve its energy efficiency and earn leed credits, both actors were working together for the first time. Therefore, the university’s buying situation can be classified as a derived demand.
Notre Dame could be a good place to figure for. They need great benefits. lots of job opportunities for anyone with no experience. Appreciate the love and support they offer back to the staff. 81% of job seekers rate their interview experience at University of Notre Dame as positive.
Candidates give a median difficulty score of two.5 out of 5 (where 5 is that the highest level of difficulty) for his or her interview at University of Notre Dame. The University of Notre Dame is the nation's leading Catholic research university, providing a particular voice in instruction that's directly rigorously intellectual, unapologetically moral in orientation, and firmly embracing a service ethos.
The University of Notre Dame, having high acceptance rates and graduation rates, high rankings and lots of prestigious alumni remains NOT a league school. The league schools are a consortium of eight private universities based within the northeast region of the US. The academics at Notre Dame are very tough, especially within the engineering and science fields.
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According to taylor's principles, which of these might help to improve workers' productivity?
According to Taylors principles the option that wouldn't help to improve the productivity of workers would be to carefully select workers according to their abilities and give workers training.
What does it mean to give workers training?This has to do with all of the activities that the business would have to carry out by carefully choosing to ensure that the workers are well trained in all of the departments that they are to work. The business would do this by organizing trainings and other forms of seminars foir the the workers.
What it means to work according to ability?This means getting people to work in the areas that they are known to be best suited. Based on the ways that they have shown their skills and their experiences, they can be selected to work in the departments.
Hence we can say that According to Taylors principles the option that wouldn help to improve the productivity of workers would be to carefully select workers according to their abilities and give workers training.
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