This could represent c. Purchases of raw materials.
A collection of accounting transactions that employ double-entry accounting are referred to informally as T-accounts. Because of the way the financial entries are organized, the account is known as a T-account. Just above the T, the account title may be seen.
In the scenario below, a business receives a $10,000 rent invoice itself from landlord for the month of July. The T account indicates that a $10,000 debit to the rent cost account and a $10,000 credit here to accounts payable account will both occur.
A T-Account is a graphic representation of a general ledger account's journal entries. The debits are shown visually upon that left side of both the T in this way.
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Therefore the correct option is C, raw material purchases.
T-accounts are an informal term used to describe a group of double-entry accounting transactions.
The account is referred to as a T-account because of how the financial entries are set up. The account title may be seen directly above the T.
In the example below, the landlord sends the firm a $10,000 rent invoice for the month of July. The T account shows that a $10,000 debit will be made to the rent cost account and a $10,000 credit will be made to the accounts payable account.
The journal entries for a general ledger account are shown graphically in a T-Account. This is how the debits are graphically shown on the T's left side.
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is the process of figuring out how to ask a research question in measureable, testable ways. replication operationalization naturalistic observation sampling
Observation is the process of figuring out how to ask a research question in measureable, testable ways. Option d.
Observation is an essential part of the research process, as it allows researchers to identify and understand the problem or issue they are looking to investigate.
By observing the environment or group of people they are studying, researchers can determine the best way to ask relevant questions and measure the results in an effective and meaningful way.
Through observation, researchers can develop the most accurate and useful research questions, enabling them to gain insight into the issue or problem they are studying.
The question can properly be written as:
............... is the process of figuring out how to ask a research question in measureable, testable ways.
a) replication
b) operationalization
c) naturalistic
d) observation
e) sampling
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which of the following is one of the ideal types of authority identified by max weber? group of answer choices familial authority relational authority coercive authority charismatic authority
The following statement that true about ideal types of authority identified by max weber is charismatic authority. So the correct option is D.
Max Weber has opinion about the definition of authority as legitimate forms of domination, that is, forms of domination which followers or subordinates consider to be legitimate. Max Weber also identified legitimate authority into several types, there are three types that including traditional, rational-legal, and charismatic. Based on the definition of Max Weber, Charismatic authority generally can be defined as a relatively unstable because the authority held by a charismatic leader may not easily extend to anyone else after the leader dies.
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the ricardian theory of comparative advantage assumes only two nations and two products, that labor can move freely within a nation, and that perfect competition exists in all markets.
A country has a comparative advantage if it can produce specific goods or services at a lower opportunity cost than its rivals in the market.
The underlying principles of the Ricardian doctrine of comparative advantage are as follows:
Assume A and B are the only two countries.They both produce X and Y, the same two commodities.The sole factor of production is labour.The labour market remains unaltered.Each and every labour unit is uniform.Both nations share similar tastes.The two commodities' prices are based on labour costs.In these situations, each nation focuses on creating the good or service with the lowest comparative production cost. Therefore, voluntary commerce and collaboration can be advantageous to all parties. Political economist David Ricardo acknowledged this economic law in his work "Principles of Political Economy and Taxation" published in 1817.
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fill in the blank. John wants to be seen ethical marketer he is wondering if his new advertising campaign is focused on attacking the competitors product rather than highlighting the benefits of his own product John's question relates to the___element of the marketing mix
Recognize the Ethical Issue, Get the Facts, Evaluate Alternative Actions, Make a Decision and Test It, Act and Reflect on the Outcome are all parts of their framework for making ethical decisions.
Which component of the marketing mix encompasses all of the actions that convey a product's worth and persuade consumers to purchase it?The actions used to advertise a product's characteristics and advantages and persuade consumers to buy it.
What are the four ethical pillars?Respect for autonomy, beneficence, nonmaleficence, and justice are the four moral principles that this paradigm uses to tackle ethical concerns (see table 1). The principles this framework promotes appear to be consistent with our moral standards, which has contributed to its influence.
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an applicant signs an application for a $25,000 life insurance policy, pays the initial premium, and receives a conditional receipt. if the applicant is killed in an automobile accident the next day
When the insured passes away, the insurance provider pays the full $25,000 death benefit.
What happens to the death benefit of a life insurance plan?
Plans for life insurance provide a death payout should the life insured pass away. When the policyholder and the life insured are the same individual, the plan is cancelled, and the death benefit is paid.Each type of insurance, including life, health, and auto, has its own set of regulations regarding how the insurance coverage would be handled in the event that a policyholder passes away.Learn who is eligible for the benefits and whether the policy has an expiration date for each situation.A policyholder's lawful heir or nominee will be the one who receives the insurance benefits after death.To learn more about death benefit refer to:
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suppose the cost of childcare falls. we would expect to see an increase in the labor supply, characterized by a rightward shift in the over all labor supply curve. this is because . select the correct answer below: childcare is a substitute for labor childcare is a complement of labor of the income effect the price of childcare is highly volatile
Under the ceteris paribus supposition, the labor demand curve depicts the quantity of workers that businesses seek to hire at any given wage or salary rate.
What use does quantity serve?
Similar to number, quantity can be used for singular or plural nouns that can be measured or counted. The major distinction is that when referring to an inanimate item, quantity is always preferred. However, there are instances in which you can use quantity and number interchangeably, particularly when the noun is plural.
This quantity is calculated by plotting known supply and demand curves on the same graph. Quantity is plotted on the x-axis on the supply and demand graphs, and demand is plotted on the y-axis. Because producers are willing
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TRUE OR FALSE scheduling involves scheduling all clients that would be seen in one hour at the top of the hour and then seeing them in the order in which they arrive.
Scheduling involves scheduling all clients that would be seen in one hour at the top of the hour and then seeing them in the order in which they arrive.
The statement is true
In a production process or manufacturing process, scheduling is the process of organizing, managing, and optimizing work and workloads. Scheduling is used to plan human resources, production processes, the use of plant and machinery, and the acquisition of materials.It is a crucial tool for manufacturing and engineering because it has a significant effect on process productivity. In manufacturing, scheduling is used to inform a production facility when to make something, with whom, and on what machinery in order to meet customer deadlines while also reducing production time and costs. Production scheduling aims to use all available resources as much as possible, maximize operation efficiency, and cut costs.Scheduling occasionally involves random elements, such as random processing times,To know more about trial balance here
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using the tax rate schedule in exhibit 4-6, determine the amount of taxes for the following taxable income amounts: 50000
The taxes for the following taxable income amounts are $11,252, $12,489, and $12,643 using the tax rate schedule in exhibit 4-6.
The tax rate you will pay on each component of your income is displayed in tax brackets. For instance, the first $10,275 of your income in 2022 will be subject to the lowest tax rate of 10% if you are single. Up until the maximum amount of your taxable income, the following portion of your income is taxed at a rate of 12%.
Calculation:A head of family earning $75,927 in taxable
income would earn $11,252.
$75,227 in taxable
income for a single person is $12,489
A married individual with taxable income of $75, 945
would pay $12, 643 on a separate return.
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Suppose an economist believes that the price level in the economy is directly related to the money supply, or the amount of money circulating in the economy. The economist proposes the following relationship:
P=AÃMP=AÃM
⢠P=Price LevelP=Price Level
⢠M=Money SupplyM=Money Supply
⢠A=A composite of other factors, including real GDP, that change very slowly over time.A=A composite of other factors, including real GDP, that change very slowly over time.
An economist would research historical data on changes in the supply of money and record how the price level changed as a result.
What does economist say about price level and supply of money?Typically, controlled laboratory studies that would produce data for testing economic models and theories are not feasible for economists. This is particularly true of models that describe the overall economy, such those that deal with the level of prices, the rate of inflation, and the rate of unemployment. It is improbable that the Federal Reserve would permit an economist to alter the money supply (and potentially have a significant impact on the economy) only to test an economic theory if the economist wished to test the above model linking the price point to the money supply. Instead, an economist would probably need to review the information that is already available on previous changes to the money supply and how the market price changed as a result.
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Mill Co. reported pretax income of $152,500 for the year ended December 31. During the year-end audit, the external auditors discovered the following errors:
Ending inventory
Depreciation expense
$30,000 overstated
$64,000 understated
What amount should Mill report as the correct pretax income for the year ended December 31?
An amount of approximately $58,500 is to be reported as the correct pretax income for the year that ended on December 31.
The pretax income is to be taken into consideration as the income that is not disposable, but is the amount on which tax is to be charged for a particular year. For the above situation, the calculation for correct pretax income will be,
Correct Pretax Income = Wrong Income - Erroneous Statements
Correct Pretax Income = 152500 - 94000
Correct Pretax Income = 58500
Therefore, the correct pretax income is calculated as $58,500.
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Mill Co. reported is required to declare the accurate pretax income for the year ending December 31, which is roughly $58,500.
The amount on which tax is to be imposed for a given year is pretax income, which must be taken into account as non-disposable income. The estimate for the appropriate pretax income in the scenario above will be,
Generally, anything you receive in exchange for personal services must be included in your gross income. Along with wages, salaries, commissions, fees, and gratuities, this also covers other types of pay, such stock options and fringe benefits.
Correct Pretax Income = False Statements + False Income
Correct Pretax Income: 152500 – 94,000
Pretax income is correct at 58500.
Therefore, $58,500 is determined to be the proper pretax income.
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under the uniform securities act, an agent may engage in which of the following transactions? i performing investment advisory services for customers as long as they are solely incidental to his work as a broker and no fees are charged ii soliciting orders for non-exempt unregistered securities if he is registered in the state iii effecting transactions in a state where he is not registered, but where the broker-dealer is registered iv effecting transactions in a state where the broker-dealer is not registered, but where he is registered
Under the Uniform Securities Act, an agent may engage in performing investment advisory services for customers as long as they are solely incidental to his work as a broker and no fees are charged.
This is because the Act allows agents to provide investment advice as long as it is incidental to their primary role as a broker, and as long as they don't charge a separate fee for this service.
Soliciting orders for non-exempt unregistered securities if he is registered in the state. This is allowed under the Act as long as the agent is properly registered and the securities are non-exempt, meaning they are not exempt from registration requirements. It is worth mentioning that iii. effecting transactions in a state where he is not registered, but where the broker-dealer is registered, is not allowed under the Uniform Securities Act. The agent must be properly registered in the state where the transactions are taking place .
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The Hub Store at a university in eastern Canada is considering purchasing a self-serve checkout machine similar to those used in many grocery stores and other retail outlets. Currently the university pays part-time wages to students totalling $64,000 per year. A self-serve checkout machine would reduce part-time student wages by $44,000 per year. The machine would cost $420,000 and has a 10-year useful life. Total costs of operating the checkout machine would be $6,800 per year, including maintenance. Major maintenance would be needed on the machine in five years at a total cost of $11,800. The salvage value of the checkout machine in 10 years would be $49,000.
The CCA rate is 25%. Management requires a 10% after-tax return on all equipment purchases. The company’s tax rate is 30%.
1. Determine the before-tax net annual cost savings that the new checkout machine will provide.
2-a. Using the data from (1) above and other data from the exercise, compute the checkout machine’s net present value. (Hint: Use Microsoft Excel to calculate the discount factor(s).) (Do not round intermediate calculations and round your final answer to the nearest dollar amount. Negative value should be indicated with minus sign.)
2-b. Would you recommend that the machine be purchased?
The before-tax net annual cost savings that the new checkout machine will provide is $54,840 per year.
How do you determine the values?To determine the before-tax net annual cost savings that the new checkout machine will provide, we need to calculate the difference between the current part-time student wages and the total operating costs of the checkout machine.
Current part-time student wages: $64,000 per year
Total operating costs of checkout machine: $6,800 per year + $11,800 in five years = $6,800 per year + $2,360 per year
Total savings: $64,000 - ($6,800 + $2,360) = $54,840 per year
2-a. To compute the net present value (NPV) of the checkout machine, we need to use the following formula:
NPV = -Cost of investment + (Annual savings / (1 + Discount rate)^n) + (Salvage value / (1 + Discount rate)^n)
Where n is the number of years, Discount rate is the required rate of return, in this case 10% after-tax, and the salvage value is in the last year.
Cost of investment = $420,000
Annual savings = $54,840
Salvage value = $49,000
Discount rate = 10% after-tax = 10%*(1-30%) = 7%
n = 10 years
NPV = -$420,000 + ($54,840 / (1 + 0.07)^10) + ($49,000 / (1 + 0.07)^10) = -$420,000 + $38,982 + $27,813 = $-353,205
2-b. Based on the NPV calculation, the machine has a negative value so it would not be recommended to purchase. The company will lose money by purchasing it.
Therefore, the correct answer is as given above
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old economy traders opened an account to short-sell 1,000 shares of internet dreams at $100 per share. the initial margin requirement was 50%. (the margin account pays no interest.) a year later, the price of internet dreams has risen from $100 to $104.80, and the stock has paid a dividend of $16.00 per share. old economy traders opened an account to short-sell 1,000 shares of internet dreams at $100 per share. the initial margin requirement was 50%. (the margin account pays no interest.) a year later, the price of internet dreams has risen from $100 to $104.80, and the stock has paid a dividend of $16.00 per share.
The initial margin, as used with a margin account, is the portion of the purchase price that must be covered in cash. A minimum initial margin of 50% of the acquisition price of a security is currently required by Fed regulations.
What is margin account?You can significantly increase your returns by investing with borrowed money, but it's crucial to keep in mind that leverage also multiplies your losses. Purchasing on margin won't make sense for the majority of people and has a disproportionately high chance of lasting losses. The best course of action is definitely to let experts handle your margin trading. The two primary categories of brokerage accounts are margin accounts and cash accounts. All transactions involving cash accounts must be completed using available funds or long holdings. The value of the securities in an investor's account can be used as collateral for a loan in margin accounts.A novice investor should avoid buying stocks on margin. Knowing the dangers and making sure the margin loan doesn't go beyond the investor's capacity to pay it back are crucial.(1000 x 100)x50% = initial margin
100000 x 50% = initial margin
= 50000
104.80 x 16.00 = 104.80
1676.8 = 104.80
50000 - 1676.8 - 10.480 =
48,428.
Hence, the remaining margin is 48.428.
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manufacturing costs include . multiple select question. O selling costsO direct laborO direct materials manufacturing overhead O administrative costs
Materials, personnel, and overhead are the three main areas of costs in the manufacturing industry.
What are the many types of manufacturing?Manufacturing is the process of converting raw materials or component components into completed products using tools, labor, machine, and chemical processing. Manufacturing helps businesses to recoup their initial investment in raw resources by charging more for finished goods.
Who is the manufacturer, exactly?A manufacturer is what? A manufacturer is a person or business that turns raw materials into finished products using a variety of tools, machinery, and procedures, and then sells those goods to consumers, merchants, distributors, retailers, or other manufacturers who can use them to make more complicated products.
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Caradonna Company has 100,000 shares of $5 par common stock issued and outstanding as of January 1, 2015. The shares were originally issued for $22 per share. On February 3, 2015, Caradonna repurchased 5,000 shares at $19 per share for the purposes of retiring them. On April 10, 2015, Caradonna repurchased an additional 2,000 shares at $25 per share. No other transactions involving common stock occurred during the year. What will be the balance in additional paid in capital from retired stock as a result of those transactions?
a. $0
b. $9,000
c. $15,000
d. $21,000
The correct response is b. $9,000. The balance in additional paid in capital from retired stock as a result of those transactions will be $9,000.
A completed transaction is an agreement between a buyer and a seller to trade goods, services, or financial assets in exchange for cash. Furthermore, corporate accounting frequently makes use of the phrase. This simple definition can become complicated in corporate bookkeeping. Whether a business utilizes accrual accounting or cash accounting will determine when a transaction is recorded. A sale is a straightforward business transaction involving a buyer and a seller. Person A gives Payment B to Person B as payment for a good or service. The exchange of the product or service for cash, after the acceptance of all terms, completes the transaction. In the accounting industry, transactions may be more complicated.
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ndicate on which financial statement you would find each of the following item:cash distributed to repay long-term debt
On cash distributed to repay long-term debt financial statement you would find each of the following item.
Financial statements are written documents that outline a company's operations as well as its financial success. Financial statements are official records of a company, an individual, or another entity's financial transactions and standing. Government organisations, accounting firms, and other entities frequently audit financial accounts to assure their correctness and for reasons related to taxes, financing, or investment. The presentation of pertinent financial data is organised and presented in an understandable style. Financial statements that are necessary to have are the cash flow statement, balance sheet, and income statement. The financial position and actions of a corporation are documented in its financial statements throughout a given time period.
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are a recent category of multinationals that seek out and invest in lower cost production sites overseas. 1. market seekers 2. raw-material seekers 3. cost minimizers 4. high tech firms
Cost minimizers are a recent category of multinationals that seek out and invest in lower cost production sites overseas.
What is cost minimized ?
The reduction of spending on pointless or ineffective processes is known as cost minimization. Any degree of cost reduction will probably have a significant impact on maximizing earnings, regardless of how significant the changes in spending are.
Where is cost minimized?
The marginal product of labor divided by the wage (w) is equal to the marginal product of capital divided by the capital rental price since cost is minimized at the levels of capital and labor (r).
Cost minimization merely suggests that businesses are optimizing production or utilizing the least expensive combination of inputs to create a particular result. Businesses have less flexibility in the short run than they have in the long run since they have fixed inputs, such money.
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The balance sheet reports a business's financial condition on a certain date. Identify which of the following items are found on a balance sheet:
a. Assets
b. Liabilities
c.Net income
d.Expenses
e.Revenue
f.Owner's equity
a. Assets, b. Liabilities, f. Owner's equity are the certain idem found in balance sheet.
What financial statement shows the financial status of a business on a particular date?The balance sheet is the statement that details the financial standing of a company at a precise moment in time, including the items like Assets, Liabilities and shareholders equity, which are further divided to offer precise information. In contrast, the income statement gives an overview of the company's financial performance during a certain period and does not reflect the financial position of the company on a particular date.
What is balance sheet?A balance sheet is a financial statement that shows a company's financial position at a specific point in time. It provides a snapshot of a company's assets, liabilities, and equity. The balance sheet is divided into two sections: assets and liabilities + equity.
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Inventory items cost $47,000 and normally sold for $75,000 for a new delivery truck with a list price of $77,000. The truck should be recorded on Kelly's books at?
The truck should be valued at $75,000 on Kelly's books. It has been assumed Kelly bought the truck with the intention of using it for commercial purposes.
Is it value or valued?
Unlike "valued" things, which are appreciated by your customers but may not be essential enough to them to pay for, valuable items give your customers some sort of financial or material benefit. In general, businesses refer to all of their clients in advertising as "valued clients." It's just a method for them to express how much they value your business and desire your financial support. They value you greatly.
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A client has begun exercising four times each week. Which of the following is a cardiovascular response to regular exercise?
The client started exercising four times a week. Cardiovascular response to regular exercise increased heart efficiency.
What is a normal cardiovascular response?The cardiovascular response to exercise begins with a decrease in vagal tone, followed by an increase in sympathetic activity, increasing heart rate, cardiac contractility, and systolic blood pressure.
Which statements is the cardiovascular response to regular exercise?Local muscle vasodilation. Increased cardiac output. Central coordination of this response.
How much aerobic exercise is recommended per week?150 minutes: For most healthy adults, the Department of Health and Human Services recommends the following exercise guidelines: aerobic exercise. Get at least 150 minutes of moderate-intensity aerobic exercise, or 75 minutes of vigorous-intensity aerobic exercise, or a combination of moderate-intensity and vigorous activity per week.
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The client started exercising four times a week. Cardiovascular response to regular exercise increased heart efficiency.
What is a normal cardiovascular response?
The cardiovascular response to exercise begins with a decrease in vagal tone, followed by an increase in sympathetic activity, increasing heart rate, cardiac contractility, and systolic blood pressure.
Which statements is the cardiovascular response to regular exercise?
Local muscle vasodilation. Increased cardiac output. Central coordination of this response.
How much aerobic exercise is recommended per week?
150 minutes: For most healthy adults, the Department of Health and Human Services recommends the following exercise guidelines: aerobic exercise. Get at least 150 minutes of moderate-intensity aerobic exercise, or 75 minutes of vigorous-intensity aerobic exercise, or a combination of moderate-intensity and vigorous activity per week.
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Thus the complete question is:
A client has begun exercising four times each week. Which of the following is a cardiovascular response to regular exercise?
A market penetration strategy, as one of the possible growth options, may be achieved by which of the following?
A market penetration strategy, as one of the possible growth options, may be achieved by lowering prices.
Market penetration tactics can help businesses that want to grow by potentially expanding their consumer base. Marketing experts frequently do this by cutting costs, which grabs customers' attention and boosts sales. In other words, the market might be saturated, it might be experiencing fierce rivalry, or the products might have a lengthy lead time.
The strategy for market entry often has little effect on a business's overall marketing strategy, but it invariably leads to higher revenue generation and significant room for expansion. When a company tries to put market penetration concepts into practise, it must keep in mind that it also needs to adopt specific plans and strategies in order to compete with rivals and boost sales.
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If an increase in an investment now provides an investor with the ability to exercise significant influence over an investee, the change to the equity method of investment accounting is applied on a ________ basis.
Executives at headquarters are in charge of corporate-level strategy; Business strategies are the responsibility of divisional managers.
Who in an organization is in charge of strategic management?
The CEO is in charge of the strategic planning process and is in command of it. They frequently play the role of the visionary, hoping to present the options available for the future and obtain board approval.
Which division is in charge of strategy?
As a coordinating body, a corporate strategy department creates and implements strategies that advance the company's overall objectives while also meeting the needs of individual departments.
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FILL IN THE BLANK Jorge Hernandez opened a consulting business by depositing $15,000 into a business checking account in the name of Hernandez Consulting. This business transaction would increase __________
The Correct Answer is
Jorge Hernandez opening a consulting business by depositing $15,000 into a business checking account in the name of Hernandez Consulting would increase cash and capital.
Cash is an important asset for any business as it represents the available funds that the company can use for its day-to-day operations. The deposit of $15,000 into the business checking account would increase the cash balance, allowing Hernandez Consulting to have more funds available to pay for its expenses such as rent, utilities, salaries, and supplies.
Capital, on the other hand, refers to the money invested into the business by its owners. This can include investments from the owner, loans from family and friends, or outside investors.
When a business is started, the initial capital comes from the owner's personal savings or other sources. The deposit of $15,000 into the business checking account represents an injection of capital into the business, which can be used to finance its growth and expansion.
This could include investments in equipment, marketing, and other initiatives that can help the business grow and succeed.
In summary, the deposit of $15,000 into the business checking account would increase both the cash balance and the capital of Hernandez Consulting, providing the company with more funds to operate and grow.
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When preparing a draft of its year 1 balance sheet, Mont, Inc. reported net assets totaling $875,000. Included in the asset section of the balance sheet were the following: Treasury stock of Mont, Inc. at cost $24,000 Idle machinery 11,200 Cash surrender value of life insurance on corporate executives 13,700 At what amount should Mont's net assets be reported in the December 31, year 1 balance sheet? A. $850,100 B. $851,000 C. $834,500 D. $842,600
The amount at which Mont's net assets be reported is $851,000
Net assets = $875,000.
Treasury stock = $24,000
Idle Machinery = $11,200
Life insurance = $13,700
A person or institution's net worth is determined by deducting the value of all of its outstanding liabilities from the total value of all of its financial and non-financial assets. In the given question, the amount of $24,000 of treasury stock indicates the market value of Mont Inc.'s as of December 31. Because a company is not expected to hold its own stock and record it in the books, its treasury stock cannot be regarded as an asset.
Calculating the amount of net assets -
= Total net assets - The amount of treasury stock
= 875,000- 24,000
= 851,000
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Please answer the question...
A business's accounting records can contain information about a transaction by creating a journal entry.
What does "journal entry explain" mean?Typically, the general ledger has a journal entry. Alternatively, it might be entered into a subsidiary ledger, rolled forward into the general ledger, and then summarized. Next, financial statements for the company are produced using the general ledger.Every company transaction should be recorded at least twice, which is double entry accounting, according to the reasoning underpinning journal entries. As an illustration, when you make a cash sale, both the revenue account and the cash account are increased. Alternatively, if you purchase items on credit, the inventory and accounts payable balances will both go up.A business's accounting records can contain information about a transaction by creating a journal entry.To learn more about journal entry refer to:
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the bank reconciliation of abc co. is provided below. demonstrate the required adjusting entries needed to update the cash account in the general ledger by selecting the correct entries below. bank balance $1,005 book balance $1,250 add: deposit in transit 300 add: interest earned 50 less: outstanding checks 185 less: nsf check - j. roberts 180 multiple select question. debit cash $300 and credit revenues $300. debit interest revenue $50 and credit cash $50. debit nsf expense $180 and credit cash $180. debit accounts receivable $180 and credit cash $180. debit cash $50 and credit interest revenue $50.
The debit accounts receivable $180 and credit cash $180, and the debit cash $50 and credit interest revenue $50, are the required adjusting entries needed to update the cash account in the general ledger.
What is in a general ledger?Accounts payable, accounts receivable, cash management, fixed assets, purchasing, and projects are examples of subledgers that are aggregated into a general ledger, which is a bookkeeping ledger where accounting data is recorded from journals. A "chart of accounts" is a comprehensive list of each account in an accounting system.
The general ledger generally contains accounts that match the income statement and balance sheet they are intended for. The income statement could include totals from general ledger accounts for cash, inventories, and accounts receivable, which is money owing to the company. Revenues, expenses, and transfers are the GLs that are used the most frequently.
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herzberg theorized that there are two types of factors that are responsible for our satisfaction or our dissatisfaction at work. these are known as motivating factors and hygiene factors. this activity is important because employee engagement is declining in developed countries across the globe, and managers should be aware of the factors that can keep employees feeling satisfied and engaged at work. the goal of this activity is to challenge your knowledge of herzberg's two factor theory.
He postulated that motivational and hygienic variables are the two categories of criteria that determine a person's level of job satisfaction.
What are the two components of Herzberg's theory?These two elements are: (Effective/Hygiene) Job satisfaction Workplace unhappiness (motivational)
What does the two-factor theory of job satisfaction by Herzberg entail?According to Frederick Herzberg, employee satisfaction includes two components: "hygiene" and incentive. Employees are less likely to be dissatisfied with their workplaces when hygiene issues like pay and supervision are addressed. Employees are more motivated, productive, and devoted when they receive rewards and acknowledgment for their efforts.
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Which of the following functions does a government perform in a market economy? (choose all that apply)
But in market economies, economists recognise six main tasks for the government. Governments maintain competition, provide goods and services to the general public, redistribute income, and take externalities into account and stabilise.
The economy in addition to providing the legal and social framework. A competitive market is necessary for the sale of goods and services in a market economies. When all buyers and sellers have equal access to information regarding prices, supply, and demand account, the market is considered to be efficient. Therefore, variations in price are merely a reflection of the rules of supply and demand. In a market economy, the government has a place. Certain goods and services are provided by the government.
above mention que is incomplete complete Which of the following functions does a government perform in a market economy? (choose all that apply) ensures healthy competition, protects consumers and workers, safeguards personal property rights
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ensures healthy competition,
protects consumers and workers,
safeguards personal property rights
Explanation:
on december 27, year 1, holden company sold a building, receiving as consideration a $400,000 noninterest bearing note due in 3 years. the building cost $380,000 and the accumulated depreciation was $160,000 at the date of sale. the prevailing rate of interest for a note of this type was 12%. the present value of $1 for three periods at 12% is 0.71. in its year 1 inc
In its year 1 income statement, Holden Company should recognize a gain on the sale of the building of $20,000.
This is because the present value of the note is $284,000 ($400,000 x 0.71), which is less than the carrying value of the building ($380,000 - $160,000 = $220,000). Therefore, the difference between the present value of the note and the carrying value of the building ($284,000 - $220,000 = $64,000) should be recognized as a gain on the sale of the building. Since the gain is spread out over three years, the gain recognized in year 1 is $20,000 ($64,000 / 3).
Additionally, Holden Company should also recognize interest income of $24,000 in its year 1 income statement. This is because the present value of the note is $284,000, which is less than the face value of the note ($400,000). Therefore, the difference between the present value of the note and the face value of the note ($400,000 - $284,000 = $116,000) should be recognized as interest income over the life of the note. Since the interest income is spread out over three years, the interest income recognized in year 1 is $24,000 ($116,000 / 3).
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Identify the accounts in the trial balance that are likely to be included in each transaction cycle. Some accounts will be included in more than one cycle.Cycle: Sales and collectionBalance sheet accounts:Income statement accounts:
The accounts in the trial balance that are likely to be included in balance sheet accounts are : accounts receivable, allowance for doubtful accounts, cash and notes receivable - trade. Income statement accounts : bad debt expense, sales.
Give a brief account on trial balance.In an accounting worksheet known as a trial balance, the balances of all ledgers are combined into totals for the debit and credit account columns that are equal. A corporation creates a trial balance on a regular basis, typically at the conclusion of each reporting month. A trial balance is generally created to check the mathematical accuracy of the entries made in a company's bookkeeping system. A trial balance is not a complete audit of the books; instead, it serves as a test of one of their key components. A trial balance is frequently the first step in an audit method since it enables auditors to confirm that the bookkeeping system is free of mathematical errors before going on to more involved and in-depth examinations. Any mathematical flaws that have occurred in the double entry accounting method are found by creating a trial balance for a corporation.
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