Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits on the January 31, 2023, trial balance. Wilm's Window Washing Services Trial Balance January 31, 2023 Cash Accounts receivable Prepaid insurance Equipment Accounts payable Wilm Schmidt, capital Wilm Schmidt, withdrawals Service revenues Salaries expense Insurance expense Maintenance expense Utilities expense Total Debit $ 11,700 9,340 2,500 25,000 Required: Prepare a corrected trial balance. 9,060 Credit $ 6,000 46,000 WILM'S WINDOW WASHING SERVICES Trial Balance 60,500 32,100 5,300 13,100 5,300 $113,400 $112,500 The following errors were discovered: a. Schmidt did not post a $4,100 purchase of equipment on credit. b. In posting a $1,450 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2,670 but incorrectly credited Accounts Receivable for $7,270. d. In posting a $5,500 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash. e. In posting the entry for services of $3,700 performed for a customer on credit, Schmidt debited Accounts Receivable but credited Maintenance Expense.
Answers
Note that the corrected Trial Balance for Window Washing Services is attached accordingly.
What is Trial Balance and why is it important?Trial balance is a list of all the accounts in the general ledger with their respective debit or credit balances.
It is used to ensure that the total debits equal the total credits, indicating that the accounting records are in balance. The purpose of a trial balance is to detect errors that have been made in the double-entry bookkeeping system.
It is important because it ensures the accuracy of the accounting records and provides a foundation for the preparation of financial statements.
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Related Questions
A company issued 10-year bonds three years ago with a coupon of 7 percent. If the current
market rate is 8 percent and the bonds make annual coupon payments, what is the current
market value of one of these bonds? what is the current market value of one of these bonds if it
was a zero-coupon rate? (2.5 Marks)
Answers
The current market value of one of these bonds with a 0% coupon rate is approximately $540.60.
What is market value?Market value is the amount that an asset would sell for on the open market or the estimation that the financial community makes of a specific equity or company.
To calculate the current market value of a bond with a coupon rate, we can use the present value of an annuity formula:
P = C / r * (1 - 1 / [tex](1 + r)^n[/tex]) + FV / [tex](1 + r)^n[/tex]
For a bond with a face value of $1,000, a coupon rate of 7%, and a market interest rate of 8%, the annual coupon payment is $70 ($1,000 x 7%).
The number of years to maturity is 7 (10 years - 3 years). Using these values in the formula, we get:
P = $70 / 0.08 x (1 - 1 / [tex](1 + 0.08)^7[/tex]) + $1,000 / [tex](1 + 0.08)^7[/tex]
P = $70 / 0.08 x 4.868 + $1,000 / [tex]1.08^7[/tex]
P = $70 / 0.08 x 4.868 + $508.43
P = $759.73
Therefore, the current market value of one of these bonds with a 7% coupon rate is approximately $759.73.
For a zero-coupon bond, we can use the formula:
P = FV / [tex](1 + r)^n[/tex]
P = $1,000 / [tex](1 + 0.08)^7[/tex]
P = $540.60
Therefore, $540.60 is the current market value of one of these bonds with a 0% coupon rate.
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Zach bought 200 shares of goshen stock years ago for $21. 35 per share. He sold all 200 shares today for $43 per share. What was his gross capital gain?.
Answers
200 shares were purchased for a total of $4270; they were sold for a total of $8600; and a capital gain of $4330 resulted from the sale of the 200 shares.
Why do you use the term shares?Shares are fractional ownership interests in a corporation. For certain businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual income in the form of rewards.
Given that Zach purchased 200 shares 20 years ago,
Price of 1 share = $21.35
a) The 200 shares' total acquisition price was:
= 200 × $21.35
= $4270
b) The fact that Zach traded 200 shares today is a given.
Price of 1 share = $43
The 200 shares were sold for a total of:
= 200 × $43
= $8600
c) The 200 shares' capital gain was as follows:
= $8600 - $4270
= $4330
Therefore , the answers are :
a) The cost of the 200 share was $4270 in total.
b) The 200 shares were sold for a total of $8600.
c) The 200 shares' capital gain came to $4330.
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The Complete Question :
Zach bought 200 shares of Goshen stock 20 years ago for $21.35 per share. He sold all 200
shares today for $43 per share.
a. What was the total purchase price for the 200 shares?
b. What was the total selling price for the 200 shares?
C. What was the capital gain for the 200 shares?
Which of the following is a part of the interpersonal communication model that led to the communication breakdown between Jane and the customer?a. inadequate or poor communication
b. busy business environment
c. avoiding blaming the customer
Answers
The interpersonal communication model that caused the breakdown in communication between Jane and the customer includes the busy business environment. So (b) is the correct answer.
The term "business environment" refers to the sum or collection of all internal and external factors, including people working in the company, customer needs and expectations, supply and demand, management, clients, suppliers, and owners, as well as government actions, technological innovation, social trends, market trends, and economic changes. These elements have a direct or indirect impact on how a firm operates and performs its functions. These factors taken together have an impact on the environment and situation of businesses or corporate entities.
Business environment increases overall performance, growth, and profitability of the organisation by assisting in the identification of business prospects, utilising helpful resources, and assisting in planning. Business environments come in a variety of forms, including macro and micro environments.
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In order to determine GDP the expenditures approach, all spending on ___ goods and services, not intermediate goods, is added up.
Answers
In order to determine GDP the expenditures approach, all spending on final goods and services, not intermediate goods, is added up.
The value of a nation's total production of products and services minus the value of the raw materials utilised for a given period of time, usually one year, is known as a country's gross domestic product (GDP). One way to determine GDP which is a metric of the total value of products produced inside a nation's borders during a specific time period is the expenditures approach.
The expenditures approach involves adding up all final product purchases made throughout the measurement period to determine GDP. Spending by individuals, companies, governments and overseas consumers is included in this. Whereas, spending on intermediate products is not taken into account because their worth is already factored into the final price of the finished commodities that are used in the manufacturing of other products.
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Carlos can produce the following combinations of X and Y: 10X and 10Y, 5X and 15Y, and OX and 207. The opportunity cost of one unit of X for Carlos is a) 1 unit of Y. b) 2 units of Y. O c) 1/2 unit of Y. d) 1/4 unit of Y. e) none of the above
Answers
For Carlos, one unit of X has an opportunity expense of one unit of y. The correct answer is option (a).
What is opportunity cost?The value of what you forgo when choosing between two or more choices is known as opportunity cost. Every decision involves trade-offs, and opportunity cost refers to the gains you could have gained by going in one way rather than the other.
Opportunity cost is the value of other products or services you must forgo in order to purchase your desired item. The term "cost" as used by economists typically refers to opportunity expense. Using the word "cost" in everyday speech or the news is widespread.
Opportunity cot = What we give up/What we gain
OC = Give up(y)
= 15 - 10
= 5y
= 5/5
= 1y/x
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When looking at a country as a market or investment, the international business must consider the country's legal system. In that assessment, the firm needs to understand the differences between private actions, which refer to theft, piracy, blackmail, and the like from individuals or groups, and public actions, which are those actions taken by politicians and government bureaucrats. Either kind of action would pose a serious threat to the firm's investment or operations. Before the firm can seek legal remedies, it must clearly understand the options open to it In a legal sense, property refers to a resource over which an individual or a business holds a legal title. It is a resource that it owns. Countries differ in the extent to which their legal systems define and protect property rights, even those countries that are still nominally communist states. Property rights can be violated, sometimes by governments and sometimes by individuals or groups. Select the most appropriate action-public or private-in terms of property rights and legal protections for each description below. 1. You face demands from government officials that will be required before you are allowed to do business. Payments are to be made to individuals, not the government. Public Action 2. A government official is demanding trips, education payments for his children, and a new care before he will allow your firm to be considered for a procurement bid. (Click to select) 3. Your business is told to pay a group of individuals or face violent retribution. You have learned other similar businesses have faced similar demands. (Click to select) *] 4. You've learned your firm will face very expensive new licensing fees in addition to a new tax regulation that targets foreign firms (you) in a specific industry. (Click to select) ) 5. A group of hackers based in the country where your firm wishes to conduct business has broken into your database and is demanding payment or they will destroy your firm's records. Private Action 6. You thought your contract would protect your rights, but your customer is now refusing to pay for merchandise already received, and the courts don't seem willing to help you. (Click to select) Private Action Public Action
Answers
For each of the above descriptions (from 1 to 6), the following are the actions:
Public ActionPublic ActionPrivate ActionPublic ActionPrivate ActionPublic ActionThe reasons are as follows:
A prime example of governmental corruption and bribery is the desire for payments to be made to people rather than the government. Property rights are being violated, and the company's legal protection is being violated. Because government employees are performing it, it is a public action.A prime example of corruption and a breach of the law protecting businesses is the demand for personal advantages from a public official in exchange for procurement possibilities. Because it is being done by government representatives, this is a public action.Property rights and the business's legal safeguards are violated when someone demands money or risks receiving violent retaliation. Because it is being carried out by a group of people rather than government representatives, this is a private activity.It is against the law and a breach of the business's property rights to impose additional licensing fees and targeted taxes. Given that the government carries it out through rules and taxes, this is a public activity.The demands for money made by the hackers constitute an infringement on the company's property rights and legal defenses. Due to the fact that a group of people is doing this action, it is a private one.The client's reluctance to pay and the courts' lack of assistance are violations of the client's property rights and other legal safeguards. This is a public action because the judicial system failed to defend the interests of the corporation.Learn more about property rights here:
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100 points brainliest A business buys equipment with $300 cash and puts $425 on credit. What is the value of this asset?
A. $725
C. $425
B. $300
D. $125
Answers
Answer:
The value of the asset is $725
Explanation:
so the answer is A) $725. This is the total amount of money spent by the business, both in cash and on credit, to purchase the equipment. The business spent $300 in cash and $425 on credit, for a total of $300 + $425 = $725.
Suppose that when the price of peanut butter falls from $3 to $2 per jar, the quantity of jelly purchased falls from 15 million jars to 10 million jars Instructions: Round your answer to two decimal places and include a negative sign if appropriate. The cross-price elasticity of demand between peanut butter and jelly using the midpoint method is The goods are substitutes
Answers
An increase in the price of a good causes consumers to increase their demand for its substitutes.
If the price of jelly falls,the demand for peanut butter,a complementary good to jelly,will increase.The increase in the demand for peanut butter will cause the price of peanut butter to rise.Because peanut butter and jelly are complementary goods, you'll also want less peanut butter.Therefore,the demand for peanut butter decreases.The decrease in the demand for peanut butter reduces the equilibrium price and the quantity of peanut butter.If two goods are complements, they have a negative cross-price elasticity of demand.This means that an increase in the price of one good decreases the demand for another good. When the popularity of organic peanut butter increases,the demand curve shifts to the right.This represents an increase in consumer demand.
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Can you fully solve the picture provided
Answers
If the income is $9 and the prices or X and Y are $2 and $1, the quantities of each that will be purchased will be 2 units of X and 5 units of Y.
The total utility is 105.
When the other things remain unchanged and the price of X is $1, the quantities of X and Y to be purchased will be 4 units of X and 5 units of Y.
What is utility maximization?The idea behind utility maximization is that people and organizations should aim to get the most happiness possible out of their financial choices. Utility maximization is a crucial idea in consumer theory because it demonstrates how customers choose how to distribute their income.
It should be noted that the total utility was calculated as:
= (23 + 16) + (18 + 16 + 14 + 10 + 8)
= 105
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Make a job cost sheet for the standard units. use the following direct materials and direct labor information. - direct materials $7,740 - direct labor $5,492 for overhead, computer overhead rates for each of the three activities. hint, you will divide each activitys budgeted cost by the total amount of that activity's cost driver. you will have to calculate 3 different rates, one for each activity. (round activity rate and cost per unit answers to 2 decimal places.) your job cost sheet will include: direct materials direct labor overhead for purchasing overhead for designing overhead for shipping
Answers
Per units cost is 2.96(round to 2 decimal places) as per the requirement.
Job cost sheet for Standard units:
Job cost sheet for Standard Units
Direct Material
$7,846.00
Direct labor
$6,540.00
Overheads:
Purchasing
$30,000.00
Designing
$41,400.00
Shipping
$45,000.00
Total overheads
$116,400.00
Total job cost
$130,786.00
Divide by Units produced
$44,254.00
Per Cost unit
$2.96
Formula snip: for the Job cost sheet.
Job cost sheet for Standard Units
Direct Material
7846
Direct labor
6540
Overheads:
Purchasing
=(93000/7750)*2500
Designing
=(92000/10000)*4500
Shipping
=(87000/5800)*3000
Total overheads
=SUM(B5:B7)
Total job cost
=SUM(C2:C8)
Divide by Units produced
44254
Per Cost unit
=C9/C10
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a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%.)
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions) Assets
Assets 2022 2021 Increase ( Decrease) Percentage (Change)
Current Assets $9,600 $8,730 $ %
Property, plant, and equipment (net) 1,910 1,830 $ %
Other assets 1,470 1,620 $ %
Total assets $12,980 $12,180 $ %
Liabilities and Stockholders' Equity
Current Liabilities $3,210 $3,370 $ %
Long-term liabilities 1,254 1,330 $ %
Stockholders’ equity 8,516 7,480 $ %
Total liabilities and stockholders' equity $12,980 $12,180 $ %
b) Prepare a vertical analysis of the balance sheet data for Nike for 2022.
NIKE, INC.
Condensed Balance Sheet
May 31
$ (in millions) Percent
Assets
Current Assets $9,600 %
Property, plant, and equipment (net) 1,910 %
Other assets 1,470 %
Total assets $12,980 %
Liabilities and Stockholders' Equity
Current Liabilities $3,210 $
Long-term liabilities 1,254 $
Stockholders’ equity 8,516 $
Total liabilities and stockholders' equity $12,980 $
Answers
Condensed Balance sheet
May 31
2022 2021 Increase( drop) Percent change from 2021
means
Current means 9600 8730 87010.0
Property, factory, and outfit( net) 1910 1830 804.4
Other means 1470 1620-150-9.3
Total means 12980 12180 8006.6
arrears and Stockholders' Equity
Current arrears 3210 3370-160-4.7
Long- term arrears 1254 1330-76-5.7
Stockholders ’ equity 8516 7480 103613.9
Total arrears and stockholders' equity 12980 12180 8006.6
b
Condensed Balance distance
May,2022
$ in millions Percent
means
Current means 960074.0
Property, factory, and outfit( net) 191014.7
Other means 147011.3
Total means 12980100.0
arrears and Stockholders' Equity
Current arrears 321024.7
Long- term arrears 12549.7
Stockholders ’ equity 851665.6
Total arrears and stockholders' equity 12980100.0
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___________ Accounting allows internal users to determine what information they need to make planning and control decisions and is not rules-based
Answers
The answer is Managerial accounting.
Managerial Accounting allows internal users to determine what information they need to make planning and control decisions and is not rules-based.
Managerial accounting, also known as management accounting, is the act of identifying, measuring, analyzing, interpreting, and conveying financial information to internal users such as managers and executives to aid in planning and control decisions. It is not controlled by widely recognized accounting rules (GAAP), but rather by the special demands of the company and its management. Managerial accounting information is typically used to make decisions that affect the day-to-day operations and long-term strategy of the firm.
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The project team members are temporarily assigned to the project and report to the project manager. The manager heading the project coordinated its activities with other departments and reports directly to top management. Project managers receive high visibility in a firm and are a key element in the planning, scheduling and control of project activities. Elaborate with an appropriate example, any FIVE (5) contents of final project close out report that the project manager are directly responsible.
Answers
The final stage of a project is called project closure. The project manager must confirm that the client, stakeholder, or customer has approved the project deliverables at this point.
Project Closing Steps:
Managing a project is an experience you can continuously learn from. It's not just about tasks and resources, money and deadlines.As mentioned, initiatives produce reams of paperwork. Stakeholders will need to sign off on and approve these documents.You put together a team for the project, and now it's time to let them go. They are now free to move on to the following project thanks to this formal and important process.The reason you meet with your team frequently throughout the project and reflect on the process afterwards is that there are lessons to be learned from previous projects.You're not doing your job if you think it's absurd. It is not absurd to give your staff a reward for a job well done.To learn more about project closure visit;
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Privacy advocates are not questioning whether Axon's software will transform the legal and lethal limits of policing but how it will change policing and who will profit the most from these changes.
Group of answer choices
True
False
Answers
Privacy advocates are not questioning whether Axon's software will transform the legal and lethal limits of policing but how it will change policing and who will profit the most from these changes. The statement is True.
What are Privacy advocates?Individuals having authority and expertise concerned with information leaks and exploitation are said to be privacy advocates who called for prior obtaining consent and claimed that technology could be employed by customers to automatically transmit their privacy choices.
An individual who actively supports a certain method of proceeding or strategy is known as an advocate and makes the argument for increased standards, regulations, enforcement, and regulation of all parties.
Therefore, the statement is True.
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Create a product net for a perfume packaging item to include
branding details drawing on prior knowledge for the use of fonts,
shapes, colors, tables, alignment, object order and so forth
Answers
With unique perfume packaging created just for you by a qualified designer, you can showcase the uniqueness of your product.
To help with distribution, identification, storage, promotion, and consumption, a product is enclosed or protected using a container as packaging.
Packaging, which can be an integral element of the product or an external container composed of various materials, serves as the primary distribution, storage, and sales tool. It is frequently regarded as a crucial marketing item. Both the merchant and the customer depending on the packaging. The buyer uses it as a crucial tool for identification and utilisation, while the seller uses it for distribution, storage, and promotion.
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For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Big Winner is charging $350 per room per night.
If average household income increases by 25%, from $40,000 to $50,000 per year, the quantity of rooms demanded at the Big Winner (FALLS/RISES) from _____ rooms per night to____ rooms per night. Therefore, the income elasticity of demand is (NEGATIVE/POSITIVE) , meaning that hotel rooms at the Big Winner are (AN INFERIOR GOOD/ A NORMAL GOOD) .
If the price of an airline ticket from SFO to LAS were to increase by 20%, from $250 to $300 roundtrip, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Big Winner (FALLS/RISES) from ____ rooms per night to ____ rooms per night. Because the cross-price elasticity of demand is (NEGATIVE/POSITIVE) , hotel rooms at the Big Winner and airline trips between SFO and LAS are (SUBSTITUTES/COMPLEMENTS) .
Big Winner is debating decreasing the price of its rooms to $325 per night. Under the initial demand conditions, you can see that this would cause its total revenue to (DECREASE/INCREASE) . Decreasing the price will always have this effect on revenue when Big Winner is operating on the (ELASTIC/INELASTIC) portion of its demand curve.
Answers
If typical household income grows by 25%, between $40,000 to $50,000 per year, the number of rooms requested at the Big Winner Skyrockets from ____ rooms per night to____ rooms per night.
Therefore, the income elasticity of demand is POSITIVE, meaning that hotel rooms at the Big Winner are A NORMAL GOOD. Explanation: An increase in average household income will increase the purchasing power of consumers, which may lead to increased demand for hotel rooms at the Big Winner. The positive income elasticity of demand suggests that hotel rooms at the Big Winner are a normal good, as consumers will demand more hotel rooms when their income increases. If the cost of a one-way plane ticket from SFO to LAS rises by 20%, from $250 to $300, but all other demand parameters stay constant, the number of rooms required at the Big Winner FALLS from ___ rooms per night to ___ rooms per night. Hotels at the Big Winner and plane tickets between SFO and LAS are COMPLEMENTS because of merge demand elasticity is NEGATIVE. Explanation: An increase in the price of airline tickets will make it more expensive for consumers to travel to SFO, which may decrease the demand for hotel rooms at the Big Winner. The inverse merge elasticity of demand implies that hotel rooms at the Big Winner and airline journeys between SFO and LAS are complementary, since a change in the cost of one commodity (airline tickets) affects want for the other (hotel rooms). Big Winner is considering lowering its accommodation rates to $325 per night. Under the original market dynamics, you observe that its total revenue would INCREASE. Since Big Winner is functioning on the ELASTIC section of its demand curve, lowering the price always has this effect on revenue. Explanation: When the price elasticity of demand is elastic, a decrease in price will lead to an increase in quantity demanded that is proportionately greater than the decrease in price, resulting in an increase in total revenue. Therefore, if Big Winner is operating on the elastic portion of its demand curve, a decrease in price will lead to an increase in total revenue.
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implications of cellular biology on hospitality and tourism management research: sustainable develpoment goal perspective
Answers
Dana mentions that her research showed that Michigan has experienced the longest period of slow but sustained job growthWhy would that be considered an economic benefit for Sig Construction?
Answers
Economics can predict a company's future growth or problems, but in order to apply economics to business decisions, it is important to use decision-making.
What was the explanation GrubHub's originators began the business?The first Chicago-based Grubhub was established in 2004 by Mike Evans and Matt Maloney to make a choice to paper menus. After two years, in 2006, Maloney and Evans won ahead of everyone else in the College of Chicago Corner Institute of Business' Edward L.
How has the technological environment contributed to the expansion of GrubHub's business?Because they were the first company to enter the food-delivery services market, GrubHub has an advantage over competitors in the sector. D. Restaurants can use the tablet app from GrubHub to change items on the menu and confirm and complete orders thanks to modern technology.
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explain situations where the auditor would be unlikely to use sampling techniques
Answers
Situations, where the auditor would be unlikely to use sampling techniques, are a) Where the auditor is put upon inquiry, b) Where the internal control procedures are weak and 100% audit testing is feasible and d) Where the items are unusual or extraordinary.
What is sampling?Sampling can be understood as a statistical analysis technique in which a preset number of observations are drawn from a larger population. It is used to sample from a broader population varies according to the sort of study being conducted, although, it may include simple random sampling or systematic sampling.
Sampling is used to form conclusions regarding populations based on samples, and it allows us to identify the features of a population by directly seeing only a subset of the population.
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The director decides to move forward to fix this issue.
"I'd like you to come up with a strategy to fix this misperception by consumers. I want this strategy to create an almost involuntary reaction in the consumer of thinking 'good-tasting cookie' whenever they see 'Cocoa Cremes'."
"I think once they learn and remember that the cookie brand stands for an enjoyable eating experience, we may see an increase in sales."
Which strategy would you recommend to the director?
Answers
You will recommend developing an advertising strategy that pairs image of people eating and enjoying cookies .
Elaborating:This is primarily due to the fact that the company is compelled to show customers a product commercial with two pictures of people eating and enjoying cookies bearing the brand name. which will undoubtedly recall the advertising campaign and brand name.
Every time they see advertising that uses the brand name, customers would be encouraged to try the product. Your brand's exposure through this strategy will undoubtedly result in increased sales. Customers will begin to view the brand in a more favorable light as a result of this positive influence.
Despite the fact that managers frequently employ both mental models, they frequently fail to recognize the differences. Additionally, decision-makers fall prey to mental pitfalls as a result of this lack of awareness. We can avoid falling into these traps and make better decisions if we understand backward and forward thinking.
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how do you know the people (messengers) delivering the information are credible?
Answers
There are some elements that are checking the author's and the source's credentials and affiliations, Analyze the sources that the author cited, check to see if the source is current and Look at the testimonials and reviews the source has got.
What is delivering the information?Information delivery describes reporting activities such as organized, interactive data distribution and organization. In essence, it refers to the methods used to transfer information from one party to another, whether that party is a client or another individual within a company.
The most common way of disseminating information is through written form. Any type of written information that is meant to be read and comprehended by a readership, such as a blog post, an article, an ebook, or another format, can be used.
Thus, checking the author's and the source's credentials.
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Which statement regarding the shadow price of the Labor Hour constraint is true? O A. The shadow price of the first constraint is zero because the shadow price of a slack constraint is always O B. The shadow price of the first constraint is negative because the shadow price of a slack constraint is always negative. O C. There is no way to know about the shadow price of the first constraint without the sensitivity report. O D. The shadow price of the first constraint is positive because the shadow price of a slack constraint is always positive.
Answers
The shadow price of a constraint indicates the increase in the objective function value associated with a one-unit increase in the right-hand side of the constraint.
If the constraint is binding (i.e., the optimal solution uses all of the available resources of the constraint), then the shadow price represents the marginal value of an additional unit of the constrained resource. If the constraint is non-binding (i.e., there is slack in the constraint), then the shadow price is zero because the constraint is not affecting the optimal solution. Therefore, the statement "The shadow price of the first constraint is zero because the shadow price of a slack constraint is always zero" is generally true for a slack constraint, while the statement "The shadow price of the first constraint is negative because the shadow price of a slack constraint is always negative" is not necessarily true. Similarly, the statement "The shadow price of the first constraint is positive because the shadow price of a slack constraint is always positive" is also not necessarily true. The statement "There is no way to know about the shadow price of the first constraint without the sensitivity report" is also not entirely accurate, as the shadow price can be calculated directly from the dual solution of the linear programming problem. However, the sensitivity report can provide a more comprehensive and detailed analysis of the impact of changes in the right-hand side values of the constraints on the optimal solution and the shadow prices.
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Assume that Brian and Tabitha can switch between producing apples and producing pork at a constant rate. Minutes Needed to Make 1 Bushel of Apples Pound of Pork Brian 10 12 Tabitha 6 10 Refer to the Table . What is Brian's opportunity cost of producing one pound of pork? a. 5/6 bushel of apples b. 6/5 bushels of apples c. 5/3 bushels of apples d. 3/5 bushels of apples
Answers
Brian will spend 120 minutes preparing pork at a rate of 12 minutes, which will result in 10 servings, while Tabitha will spend 120 minutes making apples at a rate of 6 minutes, which will result in 20 servings. The response is 10.
Which is an opportunity cost?Opportunity cost is the value of other commodities or services you must forgo in order to get your desired item. The term "cost" as used by economists typically refers to opportunity cost. Using the word "cost" in everyday discourse or the news is prevalent.
Opportunity cost is a term used in economics to describe the values or benefits that a company, business owners, or organizations forego when they choose one option over another when making decisions regarding their operations.
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List components of the marketing plan
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The components of the marketing plan are:
Market researchTarget market.Positioning.Competitive analysis.Market strategy. Budget. Metrics.What is marketing plan?An overall business plan could include a marketing plan. A well-written marketing plan must have a strong foundation in marketing strategy in order to fulfill its objectives. A marketing strategy may include a list of tasks, but without a solid strategic base, it is of little service to a company.
Businesses utilize a marketing plan as a strategic road map to plan, carry out, and monitor their marketing strategy over a specific time frame. Different marketing tactics for diverse marketing teams across the organization working toward the same business goals can be included in marketing plans.
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The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years
(104
weeks) are shown to the right.
Compute the standard deviation.
c. What is the probability that there will be more than one commercial mortgage approved in a given week?
Number Approved
Frequency
0
13
1
25
2
33
3
17
4
9
5
5
6
1
7
1
Answers
The standard deviation is approximately 1.37 commercial mortgages per week.
The probability of more than one commercial mortgage being approved in a given week can be found by adding the frequencies for all weeks with more than one approval (25+33+17+9+5+1+1) and dividing by the total number of weeks (104). This gives a probability of approximately 0.77 or 77%.
How does the standard deviation of commercial mortgages approved per week compare to the average number approved?Without knowing the specific data, it is difficult to give a precise answer. However, in general, if the standard deviation is relatively low compared to the average number approved, it indicates that the number of commercial mortgages approved per week is consistent and close to the average. On the other hand, a high standard deviation would suggest that there is a large variation in the number of commercial mortgages approved per week, which may be a cause for concern. Ultimately, the relationship between the standard deviation and the average number approved provides insight into the level of stability and predictability in the data.
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Juliet decides that she is going to save $1,200 every month from her take home pay of $5,430. What proportion of her monthly take home pay is she saving?.
Answers
Juliet resolves to set aside $1,200 of her $5,430 monthly take-home income as savings each month. She is saving 120 543 proportion of her monthly take-home pay.
Which proportion means?Mean proportional is defined as follows: specifically: the square root of a product of two numbers, such as a and b, when stated as the means of a proportion, such as a/x = x/b
What real-world instance exemplifies proportion?For instance, a person's weight, the quantity of construction workers, the quantity of bananas, the quantity of dog food consumed by a dog, the separation between two towns, or the gallop speed of a horse are all examples.
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…to say that the corporate executive has a ‘social responsibility’…must mean that he is to act in some way that is not in the interest of his employers
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In past few decades, however, more business leaders have recognized that they have responsibility to do more than simply maximize profits for shareholders and executives. Rather, they have social responsibility to do what's best not just for their companies, but people, planet, and society at large
Friedman's stance was plain: “There is one and only one social responsibility of business—to use its resources and engage in activities designed to the increase its profits.” That view has a long influenced management thinking, corporate governance, and strategic moves.
Socially responsible activities conducted by corporation are, according to Friedman, distorting economic freedom because shareholders are not able to decide how their money will be spent.
Social responsibility includes companies engaging in the environmental preservation efforts, ethical labor practices, philanthropy, and promoting volunteering. For example, company may change its manufacturing process to reduce carbon emissions.
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Francis takes 20% of his income and puts it aside for rainy days, this called?
Answers
I think investing
i think that becasue he is saving it and investing means: expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture.
Cheryl is single, has one child (age six), and files as head of household during 2022. Her salary for the year is $21,700. She qualifies for an earned income credit of the following amount.
a.$0.
b.$3,733.
c.$3,483.
d.$3,493.
Answers
Cheryl is single, has one child (age six), and files as head of household during 2022. Her salary for the year is $21,700. She qualifies for an earned income credit of the $3,493. Thus, option (d) is correct.
What is earned income credit?Earned Income Tax Credit (ETC) was the main motive to the low- to moderate-income workers and the tax was the break to the earned to the income on the tax break. It was the based on the retirement income, unemployment benefits, alimony, and the child support.
According to the earned income credit was the Cheryl is single child are the age is six. The head of the qualifies for an earned income credit of the $3,493. Her salary was the $21,700.
The maximum amount of credit for Tax Year 2022 is:
$7,430 with three or more qualifying children$6,604 with two qualifying children$3,493 with one qualifying child$600 with no qualifying children.As a result, the significance of the earned income credit are the aforementioned.
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Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,066 and Number 5893 for $491. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,500 9,968 11,611 20,143 CHECKS AND DEBITS DEPOSITS AND CREDITS Date Number Amount Date Amount 09/03 5888 1,066 09/05 1,168 09/04 5902 792 09/12 2,293 09/07 5901 1,820 09/21 4,146 09/17 673 NSF 09/25 2,309 09/20 5905 919 09/30 15 IN 09/22 5903 426 09/30 1,680 CM 09/22 5904 2,115 09/28 5907 274 09/29 5909 1,883 From Chavez Company’s Accounting Records Cash Receipts Deposited Date Cash Debit September 5 1,168 September 12 2,293 September 21 4,146 September 25 2,309 September 30 1,790 11,706 Cash Payments Check Number Cash Credit 5901 1,820 5902 792 5903 426 5904 2,074 5905 919 5906 993 5907 274 5908 411 5909 1,883 9,592 Cash Account Number 101 Date Explanation PR Debit Credit Balance August 31 Balance 16,943 September 30 Total receipts R12 11,706 28,649 September 30 Total payments D23 9,592 19,057 Additional Information (a) Check Number 5904 is correctly drawn for $2,115 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,074. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The credit memorandum (CM) is from the collection of a $1,680 note for Chavez Company by the bank. The collection is not yet recorded.
Answers
$ 18,160 is the adjusted bank balance as well as the adjusted amount per book.
The majority of savings account issuers as well as some credit card companies use the adjusted balance technique to determine the interest due.
Steps for calculation:
Balance on Bank Statement in Cr: $18,359
Add: Sept. 30 Dr. 1,689 deposit
Deduct:
No. 5893 Dr. 506 Check
No. 5906 Dr. 1,002 Check
Check No. 5908 Dr. 380
Adjusted Bank Balance Cr $18,160
$17,291 in Book Balance Cr
Add: Earned Interest Dr 16
Note Proceeds Dr 1,550
Subtract: NSF Error Dr 656
(Check 5904) Dr. 41
Adjusted Book Balance Cr $18,160
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Correct question:
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,032 and No. 5893 for $506. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement
PREVIOUS BALANCE 17,000
TOTAL CHECKS AND DEBITS 9,975
TOTAL DEPOSITS AND CREDITS 11,334
CURRENT BALANCE 18,359
CHECKS AND DEBITS DEPOSITS AND CREDITS
09/035888 1,032 09/05 1,109
09/045902 759 09/12 2,226
09/075901 1,898 09/21 4,086
09/17 656NSF 09/25 2,347
09/205905 946 09/30 16IN
09/225903 383 09/30 1,550CM
09/225904 2,149
09/285907 258
09/295909 1.894
Cash Receipts Deposited
Sept. 5 1,109
Sept. 12 2,226
Sept. 21 4,086
Sept. 25 2,347
Sept. 30 1,689
11,457
Cash payments
5901 1,898
5902 759
5903 383
5904 2,108
5905 946
5906 1,002
5907 258
5908 380
5909 1,894
9,628
Cash Explanation PR Debit Credit Balance
Aug 31. Balance 15,462
Sept 30. Total Receipts. R12 11,457 26,919
Sept 30. Total Payments. D23 9,628 17,291
Prepare the September 30 bank reconciliation for this company.
