Maywood Hydraulics leased drilling equipment from present value Aqua Leasing for a four-year period ending December 31, 2024, at which time possession of the leased asset
Equal payments under the lease are $128,000 and are due on December 31 of each year with the first payment being made on December 31, 2021. Maywood is aware that Aqua used a 5% interest rate when calculating lease payments.
The sum to be added to the right-of-use asset is $1,434.33 based on the sum Ramirez guaranteed the lessor and the expected residual value. The equipment cost Aqua $427,906 and has an expected economic life of five years. Aqua expects the residual value at December 31, 2024, to be $64,000 more should the right-of-use asset be given.
This would be the difference between the guaranteed sum and the estimated residual value, expressed in present value. = 42,300 - 40,200 = $2,100
Amount in the present: =2,100/ (1 + 10%)* =1,434.328 = $1,434.33. In conclusion, $1,434.33 must be added to the right-of-use asset amount.
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Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $79,000 has an estimated residual value of $3,000 and an estimated usife of 10 years Determine the following: (a) The depreciable cost (6) The straight-line rate (c) The annual straight-line depreciation % ©
(a) The depreciable cost is $76,000
(b) The straight-line rate is $7,600 per year.
(c) The .annual straight-line depreciation is 9.62%
Calculate Depreciable cost:(a) The depreciable cost is calculated by subtracting the estimated residual value from the cost of the building:
Depreciable cost = $79,000 - $3,000 = $76,000
(b) The straight-line rate is calculated by dividing the depreciable cost by the estimated useful life:
Straight-line rate = Depreciable cost / Estimated useful life
Straight-line rate = $76,000 / 10 years
Straight-line rate = $7,600 per year
(c) The annual straight-line depreciation percentage is calculated by dividing the straight-line rate by the cost of the building:
Annual straight-line depreciation % = (Straight-line rate / Cost of building) x 100%
Annual straight-line depreciation % = ($7,600 / $79,000) x 100%
Annual straight-line depreciation % = 9.62%
Therefore, the depreciable cost of the building is $76,000, the straight-line rate is $7,600 per year, and the annual straight-line depreciation percentage is 9.62%.
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The Auxiliary Ensign (the Blue Ensign) may be displayed by...
A. All Auxiliarists at any time.
B. Inspected surface facilities or an auxiliaries- owned vessel that displays a current VSC decal.
C. Operational facilities on patrol.
D. Any Auxiliarist when also displaying a yacht club burgee.
The correct answer is B. Inspected surface facilities or an auxiliaries-owned vessel that displays a current VSC decal.
To explain in detail, the Auxiliary Ensign (commonly known as the Blue Ensign) is a flag that is flown by members of the United States Coast Guard Auxiliary. It features a blue field with the Coast Guard emblem in the center and a white anchor above it.
According to the Auxiliary Manual, the Blue Ensign may only be displayed in certain situations. One of those situations is when the flag is flown by inspected surface facilities or an auxiliaries-owned vessel that displays a current VSC decal.
VSC stands for Vessel Safety Check, which is a program run by the Coast Guard Auxiliary to promote safe boating practices. A VSC decal indicates that a vessel has undergone a safety inspection and meets certain standards.
In summary, the Blue Ensign may only be displayed by inspected surface facilities or an auxiliaries-owned vessel with a current VSC decal. It cannot be flown by all Auxiliarists at any time, operational facilities on patrol, or when also displaying a yacht club burgee.
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The equilibrium price in the market before the tax is imposed is The price paid by buyers after the tax is imposed is The effective price sellers receive after the tax is imposed is The amount of the tax per unit is From this tax the government will collect a total of Buyers effectively pay how much of the tax per unit? Sellers effectively pay how much of the tax per unit?
The equilibrium price in the market before the tax is imposed is the point where the supply and demand curves intersect, determining the price and quantity exchanged in a market without intervention.
After the tax is imposed, the price paid by buyers is higher due to the additional tax burden. The effective price sellers receive is lower, as part of the price they would have received is now taken as tax.
The amount of the tax per unit is the difference between the price paid by buyers and the effective price sellers receive. From this tax, the government will collect a total equal to the tax per unit multiplied by the quantity of units exchanged.
To determine how much buyers and sellers effectively pay of the tax per unit, we must look at the changes in prices and quantity exchanged due to the tax.
Buyers effectively pay the difference between the price they pay after the tax and the initial equilibrium price. Sellers effectively pay the difference between the initial equilibrium price and the effective price they receive after the tax.
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Deposits of 10 are placed into a fund at the end of each year for 14 years. The present value of the series of payments is 81.12. Find the effective annual interest rate. [Hint: Using financial calculator, or try all the possible answer to see which one is closer for multiple choice problems ]
The effective annual interest rate of given statement is 4.5%. So, the answer is 4.5%.
How to find effective annual interest rate?The effective annual interest rate can be found using the formula:
PV = PMT x (1 - (1 + r)^-n) / r
where PV is the present value, PMT is the periodic payment (which is 10 in this case), r is the effective annual interest rate, and n is the number of periods (which is 14 in this case).
Substituting the given values, we get:
81.12 = 10 x (1 - (1 + r)^-14) / r
Multiplying both sides by r and rearranging, we get:
810 = 100r x (1 - (1 + r)^-14)
We can solve for r numerically using a financial calculator or by trying different values of r until we get a result that is closest to 81.12.
Using a financial calculator, we can enter the following values:
N = 14
PV = -81.12
PMT = 10
FV = 0
Solve for I/Y = 4.5%
Therefore, the effective annual interest rate is 4.5%.
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Blossom company issues $1,000,000, 10-year, 10onds at 95, with interest payable each january 1
The journal entry for the sale of bonds depends on whether they are sold at a discount or premium. If sold at a discount, the company records a Discount on Bonds Payable account, and if sold at a premium, the company records a Premium on Bonds Payable account.
Journal entry for the sale of $1,000,000, 10-year, 10% bonds at 95 on January 1, 2020:
Date Account Titles and Explanation Debit Credit
Jan. 1 Cash 950,000
Discount on Bonds Payable 50,000
Bonds Payable 1,000,000
In this journal entry, the company records the sale of its bonds by debiting Cash for the proceeds received from the investors, which is $950,000 ($1,000,000 x 0.95). The company also credits Bonds Payable for the face value of the bonds, which is $1,000,000.
The difference between the face value and the proceeds received is recorded as Discount on Bonds Payable, which is a contra-liability account and reduces the carrying value of the bonds on the balance sheet.
If the bonds sold for 108, the journal entry to record the sale on January 1, 2020 would be:
Date Account Titles and Explanation Debit Credit
Jan. 1 Cash 1,080,000
Bonds Payable 1,000,000
Premium on Bonds Payable 80,000
In this case, the company receives more than the face value of the bonds, so it records a debit to Cash for $1,080,000 ($1,000,000 x 1.08). The company credits Bonds Payable for the face value of the bonds, and records a Premium on Bonds Payable account to reflect the excess amount received.
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Complete question is:
Blossom Company issues $1,000,000, 10-year, 10% bonds at 95, with interest payable each January 1. Prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Assuming instead that the above bonds sold for 108, prepare the journal entry to record the sale of these bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1
On January 1, 2020, Oriole Corporation issued $610,000, 7%, 10-year bonds at face value. Interest is payable annually on January 1 Orlole Corporation has a calendar year end. Prepare all entries related to the bond issue for 2020. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually) 2020 Account Titles and explanation Debit Credit
Jan. 1, 2020:
Debit: Cash $610,000
Credit: Bonds Payable $610,000
December 31, 2020
Debit: Interest Expense $42,700 ($610,000 * 7%)
Credit: Interest Payable $42,700
On January 1, 2020, Oriole Corporation issued $610,000, 7%, 10-year bonds at face value. The first journal entry records the receipt of cash from the bond issuance and the corresponding liability for the bond amount. The debit to Cash represents the cash inflow from the bond issuance, while the credit to Bonds Payable represents the liability for the bond amount that Oriole Corporation has to pay back to bondholders over the 10-year period.
Since the bonds were issued at face value, there is no premium or discount amortization required in the first year. Premium or discount amortization arises when bonds are issued at a price that is different from their face value. For example, if the bonds were issued at a price higher than their face value, there would be a premium, and the premium would be amortized over the life of the bond.
On December 31, 2020, Oriole Corporation would accrue interest expense for the period from January 1, 2020, to December 31, 2020. This is because interest is payable annually on January 1, and the financial statements need to reflect the interest expense that has accrued during the year.
The debit to Interest Expense represents the expense that Oriole Corporation incurred for borrowing the money through the bonds. The credit to Interest Payable represents the liability for the interest that Oriole Corporation owes to bondholders for the interest accrued during the year. No cash is involved in this entry as the interest payment is due on January 1, 2021.
It is important to note that since Oriole Corporation has a calendar year-end, the first interest payment will be made on January 1, 2021, and will be recorded in the 2021 financial statements.
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An advantage of real-time processing of sales is
a. the cash cycle is lengthened
b. current inventory information is available
c. hard copy documents provide a permanent record of the transaction
d. data entry errors are corrected at the end of each batch
b. current inventory information is available. An advantage of real-time processing of sales is that current inventory information is available, which allows businesses to make informed decisions and keep track of their stock levels accurately. This helps in better management and efficient operations.
An advantage of real-time processing of sales is that current inventory information is available immediately, as opposed to waiting for the end of a batch processing cycle. This allows for more accurate and timely decision making regarding inventory management. Additionally, real-time processing reduces the risk of data entry errors being carried over from one transaction to the next in a batch, resulting in a more accurate record of each individual transaction. Finally, real-time processing shortens the cash cycle as transactions are processed and funds are received immediately, rather than waiting for the end of a batch.
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suppose you are an isp that owns a / 22 ipv4 address block. which of following cidr allocations can not be used to allocate address block to a custome
As an ISP owning a /22 IPv4 address block, you have a total of 1024 IP addresses available for allocation to your customers.
The CIDR allocations that cannot be used to allocate this address block to a customer are any that have a subnet mask greater than /22. This is because a subnet mask greater than /22 would result in a smaller number of available IP addresses for allocation, which would not be sufficient for a customer's needs.
For example, a CIDR allocation of /23 would only provide 512 IP addresses, which is not enough for a customer requiring a /22 block. Therefore, the CIDR allocations that can be used to allocate the address block to a customer are /22 or any smaller subnet mask such as /23, /24, /25, etc.
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Question 3 25 18 A business makes three products, A, B and C. All three products require the use of two types of machine: cutting machines and assembling machines. Estimates for next year include the following: Product Selling price (Rs per unit) 30 Sales demand (units) 2,500 3,400 5,100 Material cost (Rs per unit) 12 Variable production cost (Rs per unit) Time required per unit on cutting machines (hours) 1.0 1.0 0.5 Time required per unit on assembling machines (hours) 0.5 13 10 1.0 0.5 Fixed costs for next year are expected to total Rs 42,000. It is the business's policy for each unit of production to absorb these in proportion to its total variable costs. The business has cutting machine capacity of 5,000 hours a year and assembling machine capacity of 8,000 hours a year. Required: (a) State, with supporting workings, which products in which quantities the business should plan to make next year on the basis of the above information. (Hint: First determine which machines will be a limiting factor (scarce resource).) (b) State the maximum price per product that it would be worth the business paying to a subcontractor to carry out that part of the work that could not be done internally.
The business should produce 2,500 units of Product A, 615 units of Product B, and 5,100 units of Product C. The maximum variable cost per unit for each product, including the proportion of fixed costs to be absorbed, is Rs 17.74 for Product A, Rs 35.29 for Product B, and Rs 17.99 for Product C.
To determine which products the business should plan to make next year and in what quantities, we need to calculate the contribution per unit for each product. The contribution per unit is the selling price minus the total variable cost per unit. The total variable cost per unit includes both the material cost and the variable production cost.
Product A:
Contribution per unit = Selling price - Total variable cost per unit
= 30 - (12 + 1 x 1 + 0.5 x 0.5)
= Rs 16.75
Product B:
Contribution per unit = Selling price - Total variable cost per unit
= 30 - (12 + 1 x 13 + 0.5 x 10)
= Rs 4.50
Product C:
Contribution per unit = Selling price - Total variable cost per unit
= 30 - (12 + 0.5 x 1 + 1 x 0.5)
= Rs 17.00
We can see that Product B has the lowest contribution per unit, which means it is the least profitable product. We need to determine the production quantities for Products A and C, based on the available machine capacities.
Cutting machine capacity:
Product A: 1 hour per unit x 2,500 units = 2,500 hours
Product B: 1 hour per unit x 3,400 units = 3,400 hours
Product C: 0.5 hours per unit x 5,100 units = 2,550 hours
Assembling machine capacity:
Product A: 0.5 hours per unit x 2,500 units = 1,250 hours
Product B: 13 hours per unit x 3,400 units = 44,200 hours
Product C: 10 hours per unit x 5,100 units = 51,000 hours
We can see that the assembling machine is the limiting factor for Product B, as it requires 44,200 hours of assembling machine capacity, which is more than the available capacity of 8,000 hours. Therefore, the maximum quantity of Product B that can be produced is 8,000 hours / 13 hours per unit = 615 units.
For Products A and C, the cutting machine is the limiting factor. We can calculate the maximum quantities of Products A and C that can be produced based on the available cutting machine capacity:
Product A: 5,000 hours / 1 hour per unit = 5,000 units
Product C: 5,000 hours / 0.5 hours per unit = 10,000 units
Since the demand for Product A is 2,500 units, we can produce all of them and still have available capacity on the cutting machine. For Product C, the demand is 5,100 units, which is less than the maximum production capacity of 10,000 units, so we can produce all of the demand.
Therefore, the business should plan to produce:
Product A: 2,500 units
Product B: 615 units
Product C: 5,100 units
To determine the maximum price per product that it would be worth the business paying to a subcontractor to carry out that part of the work that could not be done internally, we need to calculate the maximum variable cost per unit. The maximum variable cost per unit is the total variable cost per unit minus the proportion of fixed costs that can be absorbed by each unit.
Total variable cost per unit for each product:
Product A: 12 + 1 x 1 + 0.5 x 0.5 = Rs 13.25
Product B: 12 + 1 x 13 + 0.5 x 10 = Rs 25.50
Product C: 12 + 0.5 x 1 + 1 x 0.5 = Rs 13.00
To absorb the fixed costs of Rs 42,000 in proportion to the total variable costs, we need to calculate the total variable costs for all the products and then allocate the fixed costs based on each product's share of the total variable costs:
Total variable costs:
Product A: Rs 13.25 x 2,500 units = Rs 33,125
Product B: Rs 25.50 x 615 units = Rs 15,697.50
Product C: Rs 13.00 x 5,100 units = Rs 66,300
Total variable costs = Rs 115,122.50
Proportion of fixed costs to be absorbed by each product:
Product A: Rs 33,125 / Rs 115,122.50 x Rs 42,000 = Rs 12,110.22
Product B: Rs 15,697.50 / Rs 115,122.50 x Rs 42,000 = Rs 5,723.88
Product C: Rs 66,300 / Rs 115,122.50 x Rs 42,000 = Rs 24,165.90
The maximum variable cost per unit for each product, including the proportion of fixed costs to be absorbed, is:
Product A: Rs 13.25 + Rs 12,110.22 / 2,500 units = Rs 17.74
Product B: Rs 25.50 + Rs 5,723.88 / 615 units = Rs 35.29
Product C: Rs 13.00 + Rs 24,165.90 / 5,100 units = Rs 17.99
Therefore, if the business can find a subcontractor to carry out the part of the work that cannot be done internally for a cost that is lower than the maximum variable cost per unit, it would be worth it to pay the subcontractor to do the work. For example, if the business can find a subcontractor to assemble Product B for less than Rs 35.29 per unit, it would be worth paying the subcontractor to do the work.
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Suppose firms become more optimistic about the economy's ability to avoid recession, and hence adjust their expectations about their expected profit. As a result, demand for loanable funds curve shifts _________ and the real interest rate ____________.
Select one:
a. rightward; falls
b. leftwars; falls
c. rightward; rises
d. cannot be determined
e. leftward; rises
c. As a result, demand for loanable funds curve shifts rightward; rises. When firms become more optimistic about the economy and adjust their expectations about expected profits, they may decide to invest more in new projects and expand their business.
This increases the demand for loanable funds, causing the demand for loanable funds curve to shift rightward. With an increase in demand for loanable funds, the real interest rate will rise to balance the supply and demand of loanable funds. Therefore, the correct answer is c. rightward; rises.
When firms become more optimistic about the economy's ability to avoid recession, they become more likely to invest in new projects, which increases their demand for loanable funds. This leads to a shift of the demand for loanable funds curve to the right. As the demand for loanable funds increases, lenders can charge higher interest rates to borrowers. Therefore, the real interest rate rises to equilibrate the demand for loanable funds with the supply of loanable funds.
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On April 2, Kelvin sold $31000 of inventory items on credit with the terms 2/10, net 30. Payment on $18600 sales was received on April 8 and the remaining payment on $12400 sales was received on April 27. Assuming Kelvin uses the net method of accounting for sales discounts, the entry recorded on April 27 would include a: O debit to Cash for $12400 and credit to Sales Discounts Forfeited for $248. O debit to Cash and credit to Accounts Receivable for $12152. O debit to Accounts Receivable and credit to Sales Revenue for $31000. O debit to Cash and credit to Sales Discounts Forfeited for $620.
If Kelvin sold $31000 of inventory items on credit with the terms 2/10, net 30 then the correct journal entry would be debit to cash for $12400 and credit to sales discounts forfeited for $248.
Since Kelvin uses the net method of accounting for sales discounts, he records the full sale amount of $31,000 in accounts receivable. When payment is received within 10 days, he offers a 2% discount (2/10) and records the sales discount as a contra-revenue account.
For the $18,600 payment received on April 8, Kelvin would record:
debit to cash for $18,252 ($18,600 - $348 discount taken)
credit to Accounts Receivable for $18,600
credit to Sales Discounts Taken for $348
For the remaining $12,400 payment received on April 27, Kelvin did not take the discount (since it was past the 10-day period) and therefore forfeited the discount. Thus, the entry recorded would be:
debit to Cash for $12,400
credit to Accounts receivable for $12,400
credit to Sales Discounts Forfeited for $248 ($12,400 x 2%).
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Average costs
O a. fall at all levels of output O b. are falling when marginal costs are above average costs and rising when marginal costs are below average costs O c. does not vary with output O d. are falling when marginal costs are below average costs and rising when marginal costs are above average costs
The concept of average costs is important in economics as it helps in understanding relationship between cost of production and level of output. So, average costs are falling when marginal costs are below average costs and rising when they are above average costs.
The answer to the question is that the average costs are falling when marginal costs are below average costs and rising when marginal costs are above average costs. This is because when marginal costs are below average costs, it means that the cost of producing an additional unit of output is less than the average cost of producing all the units. As a result, the average cost of production decreases, and the same logic applies when the marginal costs are above average costs, which results in an increase in average costs.
It is essential to note that the statement, "Average costs do not vary with output" is incorrect. In fact, average costs do vary with output as the cost of production changes with the level of output. Also, the statement, "Average costs fall at all levels of output," is incorrect as the average costs may rise or fall depending on the relationship between marginal costs and average costs.
In conclusion, understanding the relationship between average costs and marginal costs is crucial in managing the cost of production and making informed decisions on pricing and output levels.
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Which of the following costs refers specifically to those that are unaffected by the quantity of a product sold or produced?
A) annual costs
B) variable costs
C) fixed costs
D) marginal costs
E) market-adjusted
The answer is C) fixed costs. Fixed costs are expenses that do not vary with changes in the level of production or sales volume.
These costs are incurred regardless of whether a company produces or sells a single unit of a product or thousands of units. Examples of fixed costs include rent or lease payments, salaries, insurance premiums, and property taxes.
In contrast, variable costs are expenses that are directly related to the level of production or sales volume. These costs increase or decrease in proportion to the quantity of a product that is produced or sold.
Examples of variable costs include raw materials, labor costs, and packaging materials.
Marginal costs refer to the additional cost of producing one more unit of a product. Marginal costs can be calculated by taking the change in total cost divided by the change in quantity produced or sold.
Annual costs refer to the total cost of all expenses incurred by a company over a one-year period, regardless of whether those expenses are fixed or variable.
Market-adjusted costs are costs that have been adjusted to reflect changes in the market, such as changes in prices or demand for a product.
These costs may include costs associated with advertising or marketing campaigns, as well as costs associated with adjusting production levels in response to changes in demand.
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Campbell Company has current assets of $3 million of which $750,000 are accounts receivable. Its current liabilities total $2 million of which $500,000 are accounts payable and $100,000 are wages payable. Campbell's net credit is: a. $150,000 b. $1,000,000 c. $250,000 d. $650.000 4 points Save Answer
Current assets refer to assets that are expected to be converted into cash within a year, while current liabilities refer to obligations that are due within a year. Campbell Company's net credit is of $1,000,000 i.e. option B.
Explanation:
In this case, Campbell Company has current assets of $3 million, which include $750,000 in accounts receivable. Accounts receivable represents the money owed to the company by its customers for goods or services sold on credit. Campbell also has current liabilities of $2 million, which include $500,000 in accounts payable and $100,000 in wages payable. Accounts payable represent the money that Campbell owes to its suppliers for goods or services received on credit, while wages payable represent the money that Campbell owes to its employees for work performed but not yet paid for.
To calculate Campbell Company's net credit, we need to subtract the current liabilities from the current assets, excluding the accounts payable and wages payable.
Net credit = current assets - (current liabilities - accounts payable - wages payable)
Net credit = $3 million - ($2 million - $500,000 - $100,000)
Net credit = $3 million - $1.4 million
Net credit = $1.6 million
Therefore, the correct answer is b. $1,000,000. Campbell Company's net credit is $1 million. This means that the company has a positive cash flow and can use the excess funds to invest in new projects or pay off existing debt.
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If the terms of a contract make it impossible to complete the agreement within one year, the contract must be in writing. True or false?
If the terms of a contract make it impossible to complete the agreement within one year, the contract must be in writing. True or false?
The answer is true. According to the Statute of Frauds, certain types of contracts must be in writing to be enforceable.
One of these types is a contract that cannot be performed within one year from the date it was created.
This requirement is in place to reduce the risk of fraud and misunderstandings in long-term agreements.
Here's a step-by-step explanation:
1. Identify the type of contract: In this case, the contract cannot be completed within one year due to its terms.
2. Determine if it falls under the Statute of Frauds: Since the contract cannot be completed within one year, it falls under the Statute of Frauds' requirement for a written agreement.
3. Confirm the requirement for a written contract: As it falls under the Statute of Frauds, the contract must be in writing to be enforceable.
So, if the terms of a contract make it impossible to complete the agreement within one year, the contract must be in writing, and the statement is true.
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At the end of an accounting period, a physical count of goods indicates that $100,000 of inventory is on hand for resale to customers. The merchandise inventory account on the general ledger (a/k/a T-account) has a balance of $105,000. A possible explanation for this difference is? a. Too much was deducted from the general ledger account for sales during the last month b. Inventory on consignment was included in the physical count c. Freight paid on sales was not accounted for d. Some items have been lost or stolen e. None of the above are adequate explanations
A possible explanation for the difference between the physical count of inventory ($100,000) and the merchandise inventory account balance on the general ledger ($105,000) is some items have been lost or stolen. The difference of $5,000 ($105,000 - $100,000) represents the value of inventory that is missing. The correct option is d.
The merchandise inventory account on the general ledger represents the value of inventory that the company has purchased and is still on hand. The physical count of inventory is a count of the actual items in the inventory at the end of the accounting period. If the physical count of inventory indicates that $100,000 of inventory is on hand, but the merchandise inventory account on the general ledger has a balance of $105,000, then it is likely that some items have been lost or stolen.
Therefore, option d is the most likely explanation for the difference between the physical count and the balance in the merchandise inventory account on the general ledger.
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A company collects a customer's account within the discount period. Indicate how this transaction would affect (1) assets, (2) stockholders' equity, and (3) revenues.
a. (1) Decrease, (2) Decrease, (3) Decrease
b. (1) Increase, (2) Increase, (3) Increase
c. (1) Increase, (2) Increase, (3) No effect
d. (1) No effect, (2) No effect, (3) No effect
When a company collects a customer's account within the discount period, it means that they receive payment for the product or service sold before the due date. This transaction would have no effect on the company's assets, stockholders' equity and revenues.
This is because the payment received is already accounted for in the accounts receivable when the sale was made. The company's assets and stockholders' equity remain the same as before the payment was received because the transaction does not involve the purchase or sale of any assets or equity.
The revenue generated from the sale is also already recorded when the sale was made, so receiving the payment within the discount period does not affect the revenue recorded.
In summary, collecting a customer's account within the discount period is a routine transaction that does not have any significant impact on the company's financial statements.
It is simply a matter of receiving payment for a product or service that was already accounted for in the company's records.
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Expressions, hand and eye movements, postures, and gestures are all examples of what type of communication?
A. Written communication
B. Nonverbal communication
C. Visual communication
D. Oral communication
B. Nonverbal communication. Nonverbal communication refers to any form of communication that does not involve spoken or written words, including expressions, hand and eye movements, postures, and gestures.
It is one of the types of communication, along with written and verbal communication. Examples of nonverbal communication include a smile, a frown, a shrug, a wave, a nod, and maintaining eye contact. Nonverbal communication is important because it can convey emotions, attitudes, and intentions, and can complement or contradict verbal communication. It can also vary across different cultures and can be used to establish social hierarchy or intimacy.
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The correct answer is B. Nonverbal communication refers to the use of body language and facial expressions to convey meaning and emotion.
It includes a range of behaviors such as hand and eye movements, facial expressions, postures, and gestures. Nonverbal communication can convey messages that are complementary, contradictory, or substitutive to the spoken or written word. It is an important aspect of human communication and can influence the interpretation and understanding of verbal communication. Research suggests that nonverbal communication can account for up to 90% of the meaning conveyed in face-to-face interactions. Understanding and being able to interpret nonverbal cues can help individuals better navigate social situations and communicate effectively with others. In conclusion, nonverbal communication is a vital aspect of human communication, and the ability to read and interpret nonverbal cues is an essential skill for effective communication.
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When writing promotional messages for social media, incorporate content marketing by ________.
A) initiating conversations within the community
B) providing information people want
C) identifying product champions
D) eliminating community building
E) talking more than listening
When writing promotional messages for social media, incorporating content marketing is key to achieving success in your marketing efforts. There are several ways to effectively incorporate content marketing into your social media promotions.
Firstly, initiating conversations within the community is important because it allows for engagement and interaction between the brand and its followers. This engagement creates a sense of community and connection, which helps build trust and loyalty among followers. By initiating conversations, brands can learn more about their audience's preferences and interests, and use that information to create more targeted and effective content.
Secondly, providing information people want is crucial in creating value for your audience. By providing informative and relevant content, brands can position themselves as experts in their industry and build trust with their followers. This type of content can include blog posts, infographics, videos, and other educational materials.
Thirdly, identifying product champions is important for leveraging the influence of individuals who are already passionate about your brand or products. By identifying and engaging with these individuals, brands can tap into their networks and amplify their message to a wider audience.
Lastly, eliminating community building or talking more than listening can have negative effects on your social media marketing efforts. Instead, brands should focus on building relationships with their followers by listening to their feedback and responding to their concerns. This helps create a two-way conversation and fosters a sense of community and connection.
In summary, when writing promotional messages for social media, incorporating content marketing by initiating conversations, providing informative content, identifying product champions, and building community are all effective strategies that can help achieve success in your marketing efforts.
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havermill co. establishes a $300 petty cash fund on september 1. on september 30, the fund is replenished. the accumulated receipts on that date represent $78 for office supplies, $142 for merchandise inventory, and $27 for miscellaneous expenses. the fund has a balance of $23. on october 1, the accountant determines that the fund should be increased by $70. the journal entry to record the increase in the fund balance on october 1 is:
The journal entry to record the increase in the petty cash fund on October 1 would be:
Debit: Petty Cash $70
Credit: Cash $70
This entry increases the balance of the petty cash fund from $23 to $93. The petty cash fund is an imprest system, meaning it is a fixed amount of money that is regularly replenished to maintain a constant balance. The initial establishment of the fund is not recorded as a journal entry because it does not involve a transaction with another party. However, when the fund is replenished, the accumulated receipts are recorded as an expense to replenish the fund to its original balance.
On September 30, the journal entry to replenish the fund would be:
Debit: Office Supplies Expense $78
Debit: Merchandise Inventory $142
Debit: Miscellaneous Expense $27
Credit: Petty Cash $247
This entry reduces the balance of the petty cash fund from $300 to $53, reflecting the amount of cash disbursed for the expenses during the month. The expense accounts are debited to record the cost of the items purchased with the petty cash, and the petty cash account is credited to reduce its balance.
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Kashi's testing of the Crunchy Wheat promotion is an example of
a) the collection of secondary data.
b) information feedback.
c) an exploratory study.
d) a descriptive study.
e) defining and locating problems.
Kashi's testing of the Crunchy Wheat promotion is an example of a descriptive study. Descriptive studies are used to describe characteristics of a population or phenomenon being studied. In this case, Kashi is studying the effectiveness of the Crunchy Wheat promotion on their target market. By collecting data on sales, customer feedback, and other metrics, Kashi is able to describe how well the promotion is working and make informed decisions about whether to continue or modify it.
While Kashi may also be collecting secondary data (data that has already been collected by someone else), and using information feedback (analyzing data to inform decisions), these activities are not the primary focus of their study. Additionally, an exploratory study is typically used when the researcher has little knowledge of the phenomenon being studied, while Kashi likely has some knowledge about their target market and the effectiveness of different types of promotions. Finally, while defining and locating problems is an important step in the research process, Kashi's study is focused on describing the effectiveness of a specific promotion rather than identifying broader problems or trends.
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As a manager, Stephanie makes decisions about the use of resources-such as people, services, and raw materials-at her company, Stephanie needs adequate resources to pay for essential activities Multiple Choice Intangible biological non-renewable financial human
Stephanie needs adequate "financial resources" to pay for essential activities. Financial resources help in paying for essential activities, such as salaries, rent, utilities, and inventory. The correct answer is option "Financial".
Financial resources are crucial for a manager to effectively allocate funds towards essential activities like hiring employees (human resources), acquiring services, and purchasing raw materials. These resources enable a manager to maintain operations, achieve company goals, and ensure sustainability. Other resources, such as intangible, biological, non-renewable, and human resources, are also important but do not specifically pertain to paying for essential activities.
Therefore option "Financial" is correct.
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Two components, A and B are used as follows: Normal usage 50 per week each Maximum usage 75 per week each Minimum usage 25 per week each Re-order quantity A: 300; B: 500 Re-order period A: 4 to 6 weeks B: 2 to 4 weeks CALCULATE for each component (a) Re-ordering level, (b) Minimum level, (c) Maximum level, (d) Average stock level.
For component A, the re-ordering level is 450 units, the minimum level is 150 units, the maximum level is 650 units, and the average stock level is 400 units. For component B, the re-ordering level is 300 units, the minimum level is 100 units, the maximum level is 750 units, and the average stock level is 425 units.
Component A:
(a) Re-ordering level: (Maximum usage * Maximum lead time) = (75 * 6) = 450 units
(b) Minimum level: (Re-ordering level - (Normal usage * Maximum lead time)) = (450 - (50 * 6)) = 150 units
(c) Maximum level: (Re-order quantity + Re-ordering level - (Minimum usage * Minimum lead time)) = (300 + 450 - (25 * 4)) = 650 units
(d) Average stock level: (Minimum level + Maximum level) / 2 = (150 + 650) / 2 = 400 units
Component B:
(a) Re-ordering level: (Maximum usage * Maximum lead time) = (75 * 4) = 300 units
(b) Minimum level: (Re-ordering level - (Normal usage * Maximum lead time)) = (300 - (50 * 4)) = 100 units
(c) Maximum level: (Re-order quantity + Re-ordering level - (Minimum usage * Minimum lead time)) = (500 + 300 - (25 * 2)) = 750 units
(d) Average stock level: (Minimum level + Maximum level) / 2 = (100 + 750) / 2 = 425 units
In summary, These calculations help manage inventory levels and ensure that stock is available when needed, while minimizing excess stock and storage costs.
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True/False: It appears that, at this point, penetration pricing is Bilby's best strategy.
True. It appears that, at this point, penetration pricing is Bilby's best strategy. Penetration pricing involves setting a lower initial price for a product or service to attract customers and gain market share quickly.
This approach can be advantageous for Bilby, as it can help establish a strong customer base and enhance brand recognition early in the product's life cycle. By offering competitive prices, Bilby can appeal to cost-conscious consumers and create a loyal customer base. Additionally, the increased market share can improve economies of scale, enabling Bilby to reduce production costs and maintain profitability despite the lower price point. Furthermore, penetration pricing can serve as a barrier to entry for potential competitors, as it discourages them from entering the market due to the low-profit margins. This strategy can provide Bilby with a competitive advantage and help maintain its market position. In summary, penetration pricing appears to be Bilby's best strategy at this point, as it can help the company quickly establish a strong customer base, improve economies of scale, and deter potential competitors. However, it is essential for Bilby to closely monitor the market and adjust its pricing strategy as necessary to maintain its competitive advantage and ensure long-term success.
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pls help Many four-year colleges require which one of the following exams?
a.AP
b.SAT
c.ASVAB
d.PSAT
Many four-year colleges require b.SAT exams.
What is SAT exams?The SAT can be described as internattional exam that is been carried out which do serves as the standardized test widely used for college admissions especially in the United States.
It should be noted that this exam is widely accepted and can be used to covers reading, writing, and math which is been used in the process of accessing the student so that they can moveto higher levels in their academic endeaveors.
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A lottery pays the winner $1 million in 20 equal annual paymentsof $50,000. The first payment will be made at the end of the secondyear. What is the present worth if the winner’s annual interestr ate is 5.25%? (Answer: $579,680)
To calculate the present worth of the lottery winnings, we need to use the present value formula, which is:
PV = PMT x (1 - (1 + r)^(-n)) / r
Where PV is the present value, PMT is the annual payment, r is the annual interest rate, and n is the number of payments.
In this case, PMT is $50,000, r is 5.25%, and n is 20. However, since the first payment is made at the end of the second year, we need to adjust n to 18.
So, plugging in the numbers:
PV = $50,000 x (1 - (1 + 0.0525)^(-18)) / 0.0525
PV = $579,680
Therefore, the present worth of the lottery winnings is $579,680.
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Two advantages of ________ are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company.
A) product licensing
B) brand extensions
C) brand architecture
D) brand audits
E) brand dilutions
Two advantages of brand extensions are that they can facilitate new-product acceptance and provide positive feedback to the parent brand and company.
1. New-product acceptance: When a company introduces a new product under an existing, well-known brand, consumers are more likely to accept and try the new product due to their familiarity with and trust in the parent brand. This reduces the risk associated with launching a new product and helps in gaining market share quickly.
2. Positive feedback to the parent brand and company: A successful brand extension can enhance the overall image and reputation of the parent brand and the company. When consumers have a positive experience with the new product, their trust in the parent brand increases, which can lead to increased customer loyalty and higher sales for other products under the same brand.
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in which of the following cases would it necessarily be true that national saving and private saving are equal for a closed economy? a. private saving is equal to government expenditures. b. public saving is equal to investment. c. after paying their taxes and paying for their consumption, households have nothing left.
In the given cases, national saving and private saving would necessarily be equal for a closed economy in case after paying their taxes and paying for their consumption, households have nothing left. Option C is correct.
In a closed economy, national saving (S) is equal to private saving (Y-T-C) plus public saving (T-G), where Y is income, T is taxes, C is consumption, and G is government expenditures. Investment (I) equals national saving (S) since investment is the portion of current output that is not consumed but instead is used to increase future output.
Therefore, in a closed economy, I=S, and it follows that public saving (T-G) must equal private saving (Y-T-C) for national saving to equal investment.
Therefore, option C is correct.
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A quota is a stated quality standard that an imported good must reach before it can be allowed into the borders of the importing country.
a. True
b. False
False.
A quota is a limit on the quantity of a particular imported good that can be brought into a country, not a quality standard. A quality standard for imported goods would be something like meeting certain safety regulations or passing certain inspections before being allowed into the country. It is important to note the distinction between quotas and quality standards, as they are different trade policies with different implications for international commerce.
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Bonita Company purchased machinery on January 1, 2020, for $87,200. The machinery is estimated to have a salvage value of $8,720 after a useful life of 8 years.
Compute 2020 depreciation expense using the double-declining-balance method.
Compute 2020 depreciation expense using the double-declining-method method assuming the machinery was purchased on September 1, 2020.
The 2020 depreciation expense using the double-declining-balance method, assuming the machinery was purchased on September 1, 2020, is $5,450.
Using the double-declining-balance method, the first step is to calculate the straight-line depreciation rate, which is 1/8 (useful life of 8 years).
Then, the double-declining-balance rate is calculated by multiplying the straight-line rate by 2, which results in a rate of 25% (1/8 x 2 = 0.25 or 25%).
To calculate the 2020 depreciation expense, we need to determine the asset's carrying value (cost - accumulated depreciation).
Since the machinery was purchased on January 1, 2020, the asset was in use for the entire year. Therefore, the depreciation expense for 2020 is:
$87,200 x 25% = $21,800
So, the 2020 depreciation expense using the double-declining-balance method is $21,800.
If the machinery was purchased on September 1, 2020, it was in use for 4 months in 2020. Therefore, the depreciation expense for 2020 is:
($87,200 - $8,720) x 25% x 4/12 = $5,450
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