The concept is a Journal entry, it includes details on how transactions affect accounts and balances.
When an item is sold, two journal entries are recorded. This is a journal entry that records income.
Accounts receivables A/C
To Sales revenue
As goods are sold against the invoice, the receivable balance increases. This is the journal entry used to record the cost of sales.
Cost of sales A/c
To Merchandise A/c
Each journal entry contains data relevant to an individual trade transaction, including the date, amount to be credited and debited, a brief description of the transactions, and the accounts to which they relate. Depending on the company, it may include a list of branches to which it applies, tax information, and other information.
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12. If an individual has a credit score of 560 and they pay their credit card late once or twice, what might they expect a credit card company to do?
A. Close their account.
B. Offer them a lower APR to lower payments
C. Send the account to collections
D. Increase the APR to 24% or higher and charge a late fee
They expect a credit card company to Send the account to collections they expect a credit card company to. Thus option C is correct.
What is a credit card?A sort of line of credit offered by banks seems to be a credit card, which enables users to borrow money up to a pre-approved available credit. Users can use it to transact in the purchasing of goods as well as services.
As this is because the late payment of anything will not appear on the credit card report. This was to make sure that the people will have a chance to pay.
As the late payment will not affect the credit score. There will be someone who will be present for the collection of the payment. Therefore, option C is the correct option.
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Required information SB (Static) Calculating Equivalent Units, Cost per Equivalent Unit, Reconciling the Cost of Work in Process [LO 3-2, 3-3, 3-S1] [The following information applies to the questions displayed below.] Silver Company manufactures kites and has the following information available for the month of April: Work in process, April 1 (100% complete for materials, 40% for conversion) 58,000 units Direct materials $ 86,000 Conversion cost $ 116,000 Number of units started 164,000 units April costs Direct materials $ 232,000 Conversion cost $ 342,000 Work in process, April 30 (100% complete for materials, 20% for conversion) 83,000 units E3-7 (Static) Weighted-Average Method [LO 3-2, 3-3] Required: Using the weighted-average method, complete each of the following steps: 1. Reconcile the number of physical units worked on during the period. 2. Calculate the number of equivalent units. 3. Calculate the cost per equivalent unit. 4. Reconcile the total cost of work in process.
1) The number of physical units worked on during the period is 139,000.
2) The number of equivalent units is as follows:
Materials Conversion
Equivalent units 222,000 155,600
3) The cost per equivalent unit is as follows:
Materials Conversion
cost per equivalent unit $1.43 $2.94
4) The reconciliation of the total cost of work in process is as follows:
Materials Conversion Total
Total production costs $318,000 $458,000 $776,000
Finished units $198,770 $408,660 $607,430
Ending WIP $118,690 $48,804 $167,494
Total accounted for $317,460 $457,464 $774,924
Differences due to appr. $540 $536 $1,076
What are equivalent units?Equivalent units are based on the weighted percentages of completion.
They represent the physical units assumed to have been completed when it is impossible to determine with 100% accuracy.
The two methods for determining the equivalent units are the weighted-average method and the FIFO method.
Work in process, April 1 (100% complete for materials, 40% for conversion) 58,000 units
Direct materials $ 86,000
Conversion cost $ 116,000
The number of units started = 164,000 units
April costs:Direct materials $ 232,000
Conversion cost $ 342,000
Work in process, April 30 (100% complete for materials, 20% for conversion) 83,000 units
Physical Units:Beginning WIP 58,000
Units added 164,000
Ending WIP (83,000)
Units worked 139,000
Equivalent Units of Production:(Weighted-Average Method)
Units Materials Conversion
Units started and completed 139,000 139,000 (100%) 139,000 (100%)
Ending work in process 83,000 83,000 (100%) 16,600 (20%)
Equivalent units 222,000 155,600
Cost per Equivalent Unit:Materials Conversion Total
Beginning WIP $86,000 $116,000 $202,000
April costs added 232,000 342,000 574,000
Total production costs $318,000 $458,000 $776,000
Equivalent units 222,000 155,600
Cost per equivalent unit $1.43 $2.94
Costs Accounted For:Materials Conversion Total
Total production costs $318,000 $458,000 $776,000
Finished units $198,770 $408,660 $607,430
($1.43 x 139,000) ($2.94 x 139,000)
Ending WIP $118,690 $48,804 $167,494
($1.43 x 83,000) ($2.94 x 16,600)
Total accounted for $317,460 $457,464 $774,924
Differences due to appr. $540 $536 $1,076
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a chemist detects trace amounts of insecticide in food from your student union. which statement below best captures what an economist might say upon hearing the news?
An economist might say that this news could lead to decreased demand for food from the student union, resulting in a potential decrease in revenue for the union.
This could have an impact on the student union's ability to provide quality meals and services to its customers.
Demand is the consumer's intention to buy a specific product or service. The demand for a specific good on the market is known as market demand. The total demand for goods and services in the economy is known as aggregate demand.
Hence the correct statement is "This could have an adverse effect on the demand for food from the student union, leading to a decrease in revenue." and Cost Benefit Analysis.
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The question is incomplete, the complete question is:
"a chemist detects trace amounts of insecticide in food from your student union. which statement below best captures what an economist might say upon hearing the news? Economic decision makers often use what to help guide their choices?
employee ____ describes the acquiring of knowledge, skills, and behavior in the service of meeting the challenges of existing or possible future jobs.
Employee development describes the acquiring of skills, knowledge,and behavior in the service of satisfying the challenges of existing or possible future jobs.
Employee development is a method of improving employees' existing skills and competencies and developing newer ones to support the enetrprose's goals. Inherent in this description is the following adequate points of interest: Employee development is not just about developing organizational learning and development strategies.
Eemployee development is essential in the sense that it enables the companies to provide their team with the skills they require to improve their day-to-day work, acquire better outcomes, and elevate their bottom line. A better-trained workforce carries increased output for the company.
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Part of the criteria to achieve the socially efficient production level is for firms to only produce units of output that
a) have higher prices than the benefits of using the productive resources.
b) have more quantity demanded than quantity supplied.
c) give more of the market surplus to producers than to consumers.
d) are more highly valued by consumers than the associated productive costs.
Part of the criteria to achieve the socially efficient production level is for firms to only produce units of output that are more highly valued by consumers than the associated productive costs.
What are Economies of Scale?The advantage comes from the inverse relationship between the quantity produced and the fixed cost per unit. Higher output volumes are linked to lower fixed costs per unit.
Another result of economies of scale that occurs in tandem with an increase in output is a reduction in average variable costs (average non-fixed costs). Operational efficiency and the synergies that cause it are increased with an increase in production size.
At any point during the production process, a business may benefit from economies of scale. Production in this context refers to the economic concept of production and includes all actions involving the good, excluding those that have an impact on the final consumer.
As a result, a business may decide to hire a sizable number of marketing specialists in order to implement economies of scale in its marketing division. A business can employ the same strategy in its input sourcing division by switching from human work to machine labour.
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Explain the value of studying managment?
Studying management can provide many valuable benefits for individuals and organizations. Some of the key values of studying management include:
Developing leadership skills: Management courses teach students how to lead and motivate a team, make strategic decisions, and solve problems effectively. These skills are essential for success in any management or leadership role.
Understanding business operations: Management courses also provide students with a broad understanding of business operations, including finance, marketing, and human resources.
What are other benefit of studying management?They includes:
Improving decision-making: Management courses teach students how to analyze data, identify trends, and make informed decisions. This can improve the efficiency and effectiveness of an organization.
Adapting to change: Management courses also teach students how to adapt to changing business environments, which is essential in today's fast-paced business world.
Career advancement: A degree or certification in management can open up many career opportunities, from entry-level management positions to executive roles.
Overall, studying management can provide individuals with the skills, knowledge, and perspective needed to lead and manage organizations effectively. It can also help organizations achieve their goals and stay competitive in today's business environment.
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all systems are built based on business logic. business logic determines what action should be taken based on user input or third-party intervention. business logic contains business rules that ensure the integrity of its logic. for example, one business rule for an atm is to not dispense more money than the user has in their account. What type of requirements are business rules for system use? Select one. Functional Requirements Nonfunctional Requirements
Business good judgment determines what movement to take primarily based totally on consumer enter or third-celebration intervention.
Business good judgment incorporates commercial enterprise guidelines that make certain the integrity of this good judgment. For example, an ATM's commercial enterprise rule is that customers should not spend extra money than they've of their account. Business good judgment determines how statistics is displayed, stored, created, and modified. It offers a fixed of guidelines that manipulate how commercial enterprise gadgets (portions of software program that manipulate statistics transfer) paintings together. Business good judgment additionally controls how commercial enterprise gadgets in software program are accessed and updated.
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A reason why consumers conform is ______. A) cultural pressures. B) fear of deviance. C) commitment. D) all of the above. all of the above.
A reason why consumers conform is : D) all of the above.
Who is a consumer?A consumer can be defined as end user or final user of a product and this consumer tend to buy goods directly from retailers while retailers buy from wholesaler.
Consumer are essentials for every business based on the fact that they makes it possible for goods produce by companies to be make use of.
The following are the major reasons why consumers conform:
Cultural pressuresFear of devianceCommitmentTherefore we can conclude that the correct option is D.
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Record the issuance of 70,000 shares of $4 par value common stock assuming the shares sell for $4 cash per share.
The appropriate entry to record the issuance of 70,000 shares of $4 par value common stock is : Debit Cash $280,000, Credit Common stock, $4 par value $280,000.
What is journal entry?Journal entry is used by companies or organization to post their day to day business transaction.
Based on the given information the appropriate journal entry to record the issuance of share is:
Debit Cash $280,000
Credit Common stock, $4 par value $280,000
($70,000 × $4)
( To record the issuance of shares)
Therefore the entry is Debit Cash $280,000, Credit Common stock, $4 par value $280,000.
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Explain why goods are produced in one country over another.
Answer:
Goods are typically produced in one country over another because of various factors. These can include differences in production costs, availability of resources, access to markets, and the quality of infrastructure. Cost is typically the major factor in the decision to produce goods in one country over another. Countries with lower production costs may be desirable for production due to lower costs of labor and raw materials, as well as reduced taxes and government regulations. Additionally, certain countries may have natural resources or access to markets that make them ideal for production. Finally, access to reliable infrastructure such as transportation and communication networks can further add to the attractiveness of a country for the production of goods.
Explanation:
which of the following are reasons that defensive comments tend to end listening? (choose every correct answer.)
They prevent an honest flow of information and prematurely shift focus from the speaker to the listener, which decreases trust. These two are are reasons that defensive comments tend to end listening.
You need to be able to manage several mental processes at once in order to successfully listen because there are many things that can cause interference with listening. The five stages of hearing, according to author Joseph DeVito, are receiving, understanding, remembering, evaluating, and responding.
Receiving is the deliberate concentration on understanding a speaker's message, which takes place when we block out outside influences in order to isolate the message and prevent the overwhelming influx of stimuli. At this point, all we are doing is hearing the message. There are numerous reasons why we might not hear a message. These are what we commonly call listening obstacles. It's critical to be able to identify any obstacles in our listening so that we can stop doing the things that make listening difficult.
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Which of the following would be included in a life-cycle assessment of the construction phase? (Select all that apply.)
emissions from transportation of workers
impact of inspectors, architects, engineers, and surveyors
cost of recycling building materials after demolition
waste generated by the construction process
Answer:
All of the following would be included in a life-cycle assessment of the construction phase:
emissions from transportation of workers: This includes emissions from vehicles used to transport workers to and from the construction site, which can contribute to air pollution and greenhouse gas emissions.
impact of inspectors, architects, engineers, and surveyors: This includes the environmental impact of the activities and materials used by these professionals during the construction phase, such as energy used in office and travel, paper usage, etc.
cost of recycling building materials after demolition: This includes the cost of recycling or repurposing materials from a building after it has been demolished, which can help to reduce waste and minimize the environmental impact of demolition.
waste generated by the construction process: This includes waste generated during the construction phase, such as excess building materials, debris, and waste generated by workers on the construction site.
All these elements are included in a Life-Cycle Assessment (LCA) of the construction phase to identify the environmental impacts of the construction process, and to identify opportunities for improvement or mitigation.
Explanation:
A Life-Cycle Assessment (LCA) is a tool used to evaluate the environmental impacts of a product or process over its entire life cycle, from the extraction of raw materials to the disposal of the product at the end of its useful life. In the case of construction, an LCA of the construction phase would include all the inputs and outputs of the construction process, including materials, energy, and labor, as well as any resulting emissions or waste.
By including emissions from transportation of workers, impact of inspectors, architects, engineers, and surveyors, cost of recycling building materials after demolition, and waste generated by the construction process, the LCA provides a comprehensive understanding of the environmental impact of the construction phase. This information can then be used to identify areas where improvements can be made to reduce the environmental impact of the construction process.
For example, by identifying the emissions from transportation of workers, the LCA can help to identify opportunities to reduce emissions by implementing more efficient transportation methods or by encouraging workers to carpool. Identifying the cost of recycling building materials after demolition can help to identify opportunities for more efficient use of materials and to find more sustainable ways to recycle or repurpose materials.
In summary, an LCA of the construction phase considers all the inputs and outputs of the process, including materials, energy, and labor, as well as any resulting emissions or waste, to identify areas where improvements can be made to reduce the environmental impact of the construction process.
the firms create value through production-transforming less valuable inputs into more valuable outputs-and also through:
The primary method used by businesses to produce value is production, which involves turning less valuable inputs into more valuable outputs. Additionally, businesses can...
What are ghost businesses?
Producing more valuable outputs out of less valuable inputs is the primary way that businesses add value. In addition, businesses can... The employment of so-called "ghost companies" by other businesses and their managers for deceit, to conceal some transactions, and for tax fraud. "Ghost firms" give products with fictional origins, those created covertly, or products that don't exist at all, a legitimate origin.
One that targets a specific market or offers a good or service in a novel method is considered a unique business venture.
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social media facilitates which of the following for business professionals? (choose every correct answer.)
Social media facilitates- ongoing learning about their company gaining insights into best work practices
Social media is the online platform that enables people to communicate with one another, share files, information, and photographs, and keep in touch. Many individuals utilize this site to make money by sharing popular, innovative stuff. It has developed into an addictive form of exercise as well. Children skim through strangers' or ideals' posts or discussions for hours at a time. Social media can be a potent tool for influencing politics and other systems that have a tendency to have a large-scale impact on people's lives. Therefore, it is essential that we use social media in moderation so that it does not completely take over peoples' everyday lives.
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Out of the choices provided above, the business professionals that the social media facilitates, include,
Ongoing learning about their companyGaining insights into best work practicesTherefore, the options A and B hold true.
The use of social media is to be largely taken into consideration as a facility for the business professionals nowadays. This is because the business professionals can let their consumers learn about what their company does. It also helps to a greater extent in getting analytical insights related to the work practices that must be followed.
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Complete question
Social media facilitates which of the following for business professionals? (choose every correct answer.)
Ongoing learning about their company
Gaining insights into best work practices
Oligopolists are tempted to produce more than the quantity that would maximize industry profits because when they increase output, A. the price effect is zero. B. the quantity effect is zero. C. the price effect equals the quantity effect. D. the price effect is larger than the quantity effect. E. the price effect is spread across multiple firms.
E) Oligopolists are compelled to create more than is necessary to optimize industry profits because, when they expand output, the price effect is dispersed throughout a number of enterprises.
In marketplaces that are neither monopolies, fully competitive, nor monopolistically competitive, many retail purchases are made by consumers. Instead, they are oligopolies. Oligopoly occurs when a small number of large enterprises account for all or almost all of an industry's sales. The auto industry, cable television, and commercial aviation are just a few examples of the several industries that display oligopoly. Oligopolistic businesses are similar to cats in a bag. Either way, they have the choice to rip each other to shreds or to embrace and get comfortable.
If there is fierce rivalry, which would push prices down and produce no profits for anyone, oligopolists may behave almost exactly like ideal rivals. Oligopolists may be able to act like a monopoly, raise prices, and provide a consistent flow of high profits if they work together in a conspiracy. Oligopolies are typically characterized by reciprocal interdependence, where decisions regarding output, price, advertising, and other things are contingent on those of the other business (s). When examining the decisions made by oligopolistic firms regarding pricing and amount produced, it is important to consider the benefits and drawbacks of competition versus collusion at a particular time.
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A metes-and-block legal description
A legal description of meters and blocks is used to identify the exact geographic location of a country.
What are meters and blocks?Corresponds to legal demarcations of the territory of a country according to its deed, which substantiate its meters and limits defined by borders, rivers, roads or different markers.
This marker model is used in England, and was also used in the period of the thirteen American colonies, based on English laws.
Therefore, meters and blocks support the exact location of a country, with markers that guarantee its geographic identification.
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In the context of enforcing the law through punishments, the taking of an owner's resources may be done to _____.
The seizure of a customer's resources may very well be used to retaliate against someone in the context of upholding the law through penalties.
What are severe penalties for children?According to research, spanking, hitting, and other physical punishments are ineffective at changing a child's conduct. The same is true if you scold or shout at a youngster. Harsh verbal and physical punishments can harm a patient's long-term personal health in addition to being ineffectual.
What is an appropriate penalty?When you add a penalty to undesirable conduct, you are using positive punishment. You do this action to lessen its allure. Adding extra responsibilities to the schedule when my child ignores their duties is an illustration of a positive punishment.
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b. state a business rule that would make the located in relationship redundant (i.e., where the school in which a club is located can be surmised or derived in some way from other relationships).
The business rule would be that all clubs must be associated with a school, and that the school must be in the same geographic area as the club.
What is the purpose of the Located In relationship between clubs and schools?The Located In relationship between clubs and schools is a way of connecting school communities with outside organizations that share similar goals. This relationship allows students to gain access to resources outside of their school and can help them develop important skills and knowledge. For example, a school-run club may be able to access the school's library or use the school's computers and other resources, while a club run by an outside organization may be able to offer specialized instruction or workshops. This relationship can also help build connections between the school and the outside organization, allowing for more collaboration and partnerships. By connecting clubs and schools, students have the opportunity to gain valuable experiences and resources that may not be available within the school itself.To learn more about business rule refer to:
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true/false. if alabama imports 10 bushels of peaches and exports 40 bushels of tomatoes, trade allows alabama to gain bushels of tomatoes compared with autarky.
From the graph above, it is clear that Alabama will have to make sacrifices in order to produce 75 bushels of tomatoes because it must employ all of its resources.
Which of the following is true regarding the Ricardian model of two countries exchanging two goods?It is accurate to state what it is.
The Ricardian model has two countries and two types of goods being produced. They have a low opportunity cost for it if they are skilled at manufacturing a certain good. As soon as they begin to trade and become specialized, both nations stand to gain from the trade.
when an organization employs personnel from other nations to carry out a variety of tasks?Outsourcing, which involves contracting third parties, was first recognized as a legitimate business strategy in 1989. Often, outsourcing is used so that a company can focus on its core operations. It is also used to cut costs on labor, among others.
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multiple select question select all that apply which of the following us firms manipulated and misstated their accounts to the tune of billions of dollars? (select all that apply.) multiple select question. parmalat global communications qwest communications healthsouth
Parmalat, Global Dispatches, Qwest Dispatches, and HealthSouth are all example of US enterprises that were set up to have manipulated and misinterpreted their accounts to the tune of billions of bones so all the option are correct .
Parmalat, a global dairy company, was set up to have falsified its accounts to the tune of billions in 2003. Global Dispatches was set up to have exaggerated its means by over$ 1 billion in 2002, leading to its ruin. Qwest Dispatches was set up to have exaggerated its earnings by about$ 3 billion in 2002, leading to a significant reduction in its stock value. Eventually,
HealthSouth was set up to have misinterpreted its earnings by over$2.7 billion between 1999 and 2002. All of these companies had to pay millions of bones in forfeitures and penalties, as well as facing felonious charges. In all cases, the misstatements and manipulation of the accounts had a significant impact on the finances of the companies, as well as the lives of their shareholders.
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in addition to making decisions that are not arbitrary and capricious, agencies must give fair select to those affected by its regulations.
In addition to making decisions that are not arbitrary and capricious, agencies must give fair notice select to those affected by its regulations.
Which of the following is function of an administrative agency?Administrative agencies perform three main tasks: Executives are in charge of enforcing laws and regulations. Making Regulations is a quasi-legislative function. Adjudicating infractions of rules or regulations in a quasi-judicial setting.
Which administrative process do government agencies use with the goal of issuing regulations?Rulemaking is the policy-making process for the Federal government's Executive and Independent agencies. This method is used by agencies to draught and issue Rules (also known as "regulations"). The procedure is controlled by statutes such as the Administrative Procedure Act, among others.
What is a quasi-judicial function of an administrative agency?Quasi-judicial action is described as an administrative agency action that[i]; ascertains particular facts, holds hearings, weighs evidence, and draws conclusions from the facts as the foundation for their official action.
What is the name of rules and regulations adopted by administrative agencies that have the force of law?The Administrative Procedure Act (APA) oversees how federal agencies create and publish rules. It covers provisions for posting proposed and final rulemaking notifications in the Federal Register.
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which of the following are the recommended levels and types of comments for high-performing teams on business social media platforms?
The majority of comments should be about the work, with 15–20% of them being positive and the remainder primarily social.
A mechanism for distributing information to a chosen audience via the Internet. People utilize social media platforms to share the information posted by others as well as their own everyday activities, opinions, and images.
An audience receives media through a service, website, or other manner known as a media platform. Delivering is one of its primary roles, but it can also occasionally facilitate discussion, sharing, and feedback. A social media platform is an application or website that enables users to find and connect with other users as well as produce and share content.
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The suggested time for answering this question is about 22 minutes. Where calculations are required, clearly show how you arrived at your answer. Where explanation or discussion is required, support your answers with relevant information and/or specific examples.
Answer the questions below regarding the heating of a house in the Midwestern United States. Assume the following.
The house has 2,000 square feet of living space.
80,000 BTUs of heat per square foot are required to heat the house for the winter.
Natural gas is available at a cost of $5.00 per thousand cubic feet.
One cubic foot of natural gas supplies 1,000 BTUs of heat energy.
The furnace in the house is 80 percent efficient.
Calculate the following, showing all the steps of your calculations, including units.
The number of cubic feet of natural gas required to heat the house for one winter
The cost of heating the house for one winter
a.i) The number of cubic feet of natural gas required to heat the house for one winter is (2000 ft^2) (80,000 BTU/ft^2) (1 ft^3/1000 BTU) (1 BTU(in)/0.8 BTU (out)) = 200,000 ft^3.
a.ii) The cost of heating the house for one winter is (200,000 ft^3) ($5.00/1000 ft^3) = $1000.
What is heating of house?
The majority of homes in North America rely on their central furnace to keep them warm. When a furnace is operating, heated air is blown via ducts and then distributed around the house via air registers or grills. A ducted warm-air or forced warm-air distribution system is the name for this kind of heating system. It can run on fuel oil, natural gas, or electricity.
The U.S. Department of Energy is currently working on new furnace regulations, which should be approved in the spring of 2016. Since 1987, the present furnace requirements have not been revised.
The various heating system components' on and off times are controlled by the heating system controls. The thermostat, which turns on and off the system, or at least the distribution system, to keep you comfortable, is the most crucial control from your point of view.
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assume you are the president of high power corporation. at the end of the first year of operations (december 31), the following financial data for the company are available:
1. Prepare an income statement for the year ended December 31.
High Power Corporations
Income Statement
2. Prepare a statement of retained earnings for the year ended December 31.
High Power Corporations Statement of retained earnings
Retained earnings, January 1
Retained Earnings, December 31
3. Prepare a balance sheet at December 31
Based on the given data, the following financial data of High Power Corporation are:
Income statement:
Sales revenues $99,600
Operating expenses $59,800
Other expenses $7,990
Total expenses $67.790
Net income $31,810
Retained earnings Statements
Retained earnings, January 1 $0
Plus: Net Income $31,810
Less: Dividend $2,090
Retained earnings, December 31 $29,720
Balance sheet at December 31
Cash $14,700
Accounts Receivable $11,650
Equipment $93,000
Supplies $6,400
Total assets $125,750
Accounts payable $33,500
Notes payable $2,040
Total liabilities $35,540
Common stock $60,490
Retained earnings $29,720
Total equity $90,210
Total liabilities and equity $125,750
When preparing an income statement, we need to include these following accounts:
Sales revenueOperating expensesother expensesWe need to find the net income we earned from the sales activity deducted with the total expenses.
To prepare a retained earning statement, we assume that the initial retained earnings at January 1 is $0. The initial retained earnings would be added with net income and less by dividends to find the final retained earnings.
To prepare a balance sheet for December 31, we need to categories each accounts based on their categories, such as total assets, total liabilities, and total equity. Total assets should be equals to total liabilities and equities.
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Complete Question:
Assume that you are the president of High Power Corporation. At the end of the first year of operations (December 31), the following financial data for the company are available:
(Please refer to the table attached below)
Prepare an income statement for the year ended December 31.Prepare a statement of retained earnings for the year ended December 31.Prepare a balance sheet at December 31Miguel Guzman Co. purchased office on account from Sunny Office Equipment for $750. Analyze this transaction and identify which accounting equation would increase:
NET INCOME
OFFICE EQUIPMENT
CASH
ACCOUNTS PAYABLE
The component of the accounting equation that would increase Miguel Guzman Co. is Accounts Payable.
Accounts payable in accounting refers to the sums due to vendors for commodities that were paid for with credit. Accounts payable represents the total of all past-due sums due by a firm to its suppliers on its balance sheet, while the cash flow statement will indicate a rise or decrease in total AP from the preceding period.
In the given case, Miguel Guzman Co. is exchanging a liability which is the accounts payable for an asset which is the office equipment, and as a result, the company now has a repayment obligation to Sunny Office Equipment. Accounts Payable would therefore rise by $750. The Accounts Payable in the accounting equation would rise as a result of this transaction
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because the defamation cause of action serves to to protect reputation, an essential element of the tort is that ______.
The defamation cause of action serves to protect reputation, an essential element of the tort is that the alleged defamatory statement must be "of and concerning" the plaintiff.
Give an example of a defamation tortThe overview of libel torts and claims is given in the paragraphs that follow. Any speech that damages someone's reputation is referred to as "defamation," also known as character assassination. Libel is the term for defamation that occurs when a remark is put in writing and then published.
Explain the distinction between defamation and libel.Libel generally refers to speech from broadcast media that is a part of a script. False claims that someone committed a specific crime or participated in specific sexual behaviors are examples of defamatory remarks. Reputational injury is a characteristic of a defamation claim.
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arise when a customer invests time, energy, and money shifting from the products offered by one established company to the products offered by a new entrant.
When a client spends time, effort, and money shifting from the products supplied by one established company to the products offered by a new entrant, switching costs are incurred.
Switching costs are the charges a consumer incurs while changing brands or products. Switching costs may be monetary, psychological, effort-based, or time-based.
There are two distinct types of switching expenses: high switching costs and low switching costs. Businesses aim to employ hefty switching fees in order to prevent customers from moving to another brand.
Businesses with difficult-to-perfect products and minimal competition employ high switching costs as a revenue-boosting tactic.
In addition to the time and effort required to transfer suppliers, switching costs may also include costly cancellation fees, the risk of interrupting business operations during the transition period, or the inability to find comparable substitutes for goods or services.
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suppose that you, as founder of a business, have a vacant sales manager position. you realize that sales may suffer somewhat if you promote your son from sales representative to sales manager. however, you would like to see your son make progress and earn a higher salary to support his wife and young daughter.
The founder of the business should not promote his heir from the position of sales representative to sales manager as business is a private entity separate from blood relations and family
A sales manager is crucial to an company's success or failure. He is the one who is crucial to the company's ability to meet its sales goals and ultimately bring in money. A sales manager needs to be extremely clear about his position inside the company. He ought to be aware of his responsibilities at work. In many businesses, a sales manager serves a strategic function in addition to leading the sales force. Sales managers may set budgets, incentive programmes for their teams, and strategies for entering new markets.
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a mixed economy multiple choice relies on the use of central planning by private firms rather than the government. is one that allows trade with other countries. is justified by the superiority of laissez faire over government intervention. utilizes both market and nonmarket signals to allocate goods and services.
The correct option is B. Utilizes both market and nonmarket signals to allocate goods and services.
Nonmarket forces (or non-market forces) are those that affect economic factors yet operate independently of a market system. They consist of forces used by price systems other than the free price system, as well as organizing and correcting elements that give order to markets and other societal institutions and organizations. At least since the late 1940s, this phrase has been in use. In 1970, A.O. Hirschman defined "exit and voice as market and nonmarket forces, that is, economic and political procedures," paraphrasing a Kenneth Arrow article from 1963 that discussed "nonmarket social structures." The term "nonmarket," as well as its prefixes "non-economic" and "social," shows the extensive search for a phrase that would include what is "not market."
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A mixed economy
A. Is justified by the superiority of laissez faire over government intervention.
B. Utilizes both market and nonmarket signals to allocate goods and services.
C. Relies on the use of central planning by private firms rather than the government.
D. Is one that allows trade with other countries.
A survey of professional economists revealed that more than three-fourths of them agreed with a number of statements. Which of the following statement is NOT one of those propositions?
A. A ceiling on rents reduces the quantity and quality of housing available.
B. Fiscal policy has a significant stimulative impact on a less than fully employed economy.
C. Flexible and floating exchange rates are not an effective international monetary arrangement.
D. Tariffs and import quotas usually reduce general economic welfare.
Flexible and floating exchange rates are not an effective international monetary arrangement is not one of those propositions.
Financially speaking, monetary refers to money, particularly the overall financial situation of a nation. Some nations tighten monetary policy to stave against inflation. Inflationary and deflationary monetary policies are the two types. A contractionary type of monetary policy is one that is undertaken with the intention of limiting the flow of money throughout the economy. having material value is a quality. Alternatives for "the shifting monetary worth of gold and silver" If an item or service were to be sold to a third party, its monetary worth is the sum that would be given in cash in exchange. When one institutional unit makes a payment or incurs an obligation expressed in units of currency, such transaction is referred to as a monetary one.
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