Answer:
Reviewing pane
Explanation:
Henly Company enters into a contract to transfer a product to Propel Inc. On July 31, 2019. It is agreed that Propel will pay the full price of $10,000 in advance on April 15, 2019. Henly delivers the product on July 31, 2019. The cost of the product is $7,500. Requirement: What journal entries are required in 2019?
Answer and Explanation:
The journal entries are shown below:
1. No journal entry should be recorded for entered into a contract
2. On April 15
Cash Dr $10,000
To Unearned sales revenue $10,000
(Being advance is recorded)
3. On July 31
Unearned Sales Revenue $10,000
To Sales Revenue $10,000
(Being the unearned sales revenue is recorded)
Cost of Goods Sold $7,500
Inventory $7,500
(Being the cost of a product is recorded)
Consider the following accounts (Click the icon to view the accounts.) Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows. (If a box is not used in the table, leave the box empty; do not select a label.) a. Accounts Payable b. Cash c. Common Stock d. Accounts Receivable e. Rent Expense f. Service Revenue g. Office Suppliesh. Land i. Salaries Expense
Answer:
a. Accounts Payable = B
b. Cash = I
c. Common Stock = B
d. Accounts Receivable = B
e. Rent Expense = I
f. Service Revenue = I
g. Office Supplies = B
h. Land = B
i. Salaries Expense = I
Explanation:
The Income Statement shows the Revenues (Incomes) and Expenses incurred during the period of operation.
The Balance Sheet shows the Balances of Assets, Liabilities and Equity at the end of the financial period.
The Statement of Cash flows shows the results of Cash Flow arising from Operating, Investing and Financing Activities.
What is an Incentive?
Answer:
It gives u a motive to do something
Explanation:
Like sometimes work places give incentives like a raise if you do your job better
An object, valuable item, desired action, or event is referred to as an "incentive" if it prompts an employee to engage in more of the activity that the employer wanted them to by way of the selected incentive.
What is a good incentive for employees?Cash presents and experiences are the top three rewards. Gifts can include things like electronics, ride-share credits, and gift cards. Perks like tickets to concerts, festivals, and sporting events are examples of experiences. Your incentives must inspire employees.
When it comes to employees, incentives and rewards at work are advantageous to both workers and employers. Employee morale, job satisfaction, and motivation to help organizations achieve their objectives can all be improved by praising employees for their performance and productivity.
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International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.
True False
Answer: True
Explanation:
International trade is simply exchange of goods and services that take place between countries. It should be noted that gloabl trading gives the countries and the consumer opportunity through which they're exposed to the produfte that they don't have in their countries.
International trade-dependent jobs have grown at a rate three times the growth of U.S.-dependent jobs.
This is True
While producing on the production possibilities frontier, if additional units of a good could be produced at a constant opportunity cost, the production possibilities frontier would be
Answer:
a straight line
Explanation:
The Production possibilities frontier is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
As more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
If opportunity cost was constant, there would be no trade off between goods, so the curve would be a straight line
Which two management perspectives typically consider an organization to be a closed system? Check all that apply.
Answer:
Classical management viewpoint
management science perspective
Explanation:
As the name suggests the closed system refers to a system in which the company is operating at their own without any influence to be done from the outside world
The classical management theory refers to the theory that depends on the trust that the employees have two needs i.e. physical and economical. Neither they have social needs, nor job satisfaction, etc
Management science perspective refers to a solving a problem and take the decisions that are beneficial for an organization
Therefore these two should be considered as a closed system
At the end of Year 1 Bowers Company had $6,000 of assets, $2,000 of liabilities, $3,000 of common stock, and $1,000 of retained earnings. During Year 2 Bowers experienced the following events.
(1) Borrowed $4,000 cash.
(2) Earned $5,000 of cash revenue.
(3) Paid $3,000 of cash expenses.
(4) Paid $7,000 cash to purchase land
a. what is net income
b. what is CF from IA
c. what is total L?
Answer:
a.$2,000
b.($7,000)
c.$2,000
Explanation:
Calculation of Net Income
Revenue $5,000
Less Expenses ($3,000)
Net Income or (Loss) $2,000
Cash Flow from Investing Activities
Purchases of Land ($7,000)
Net Cash from Investing Activities ($7,000)
Calculation of Total Liabilities
Opening Balance (Year 1) $2,000
Cash Borrowed during Year 2 $4,000
Total Liabilities $6,000
Which short-term financial managers are involved with selling on credit and are directly responsible to the vice president of finance?
Answer:
The credit manager, and the Controller
Explanation:
The credit manager is responsible for maintaining the credit policy, in order to fulfil this target they are responsible to look at the sales and ensure the credit sales are in the sales limit.
Further that the company do not have the bad debts, it shall verify each customer properly that they have enough funds, and ensure their credibility.
Controller is responsible for maintaining the financial records of accounts, and reporting the transactions to managers.
Accordingly, Credit manager along with controller are directly responsible to the vice president of finance.
"A customer buys an equity LEAP contract on the first day that the option starts trading. If the contract expires "out the money," the customer will have a:"
Answer:long term capital loss
Explanation:
The options to the question are:
a. short term capital gain
b. short term capital loss
c. long term capital gain
d. long term capital loss
LEAP options is an acronym for Long-term Equity Anticipation. It is an option contract which is said to expire at least a year from the purchase date. It should be noted that they are more affordable than stocks due to the fact that they are typically offered at an option contract price.
A customer buys an equity LEAP contract on the first day that the option starts trading. If the contract expires "out the money," the customer will have a long term capital loss.
Select the qualification that is best demonstrated in each example. Carmen is a Parts Salesperson who has a professional attitude and speaks well to customers. Norma is a Farm Equipment Mechanic who is good at identifying why a piece of machinery is not working. Everett is an Agricultural Equipment Operator who works well alone and stays focused.
Answer:
its communication skills Problem-solving skills independence
Explanation:
Carmen: Demonstrates excellent communication skills and professional attitude.
Norma: Demonstrates strong problem-solving skills and expertise in diagnosing mechanical issues.
Everett: Demonstrates the ability to work independently and maintain focus on the task at hand.
What are communication skills?Communication skills refer to the ability to convey information effectively and efficiently through verbal and nonverbal means. These skills include listening, speaking, writing, and presenting in a clear, concise, and compelling manner.
Good communication skills also involve being able to tailor the message to the audience and being able to understand and interpret the messages of others.
Other important communication skills include the ability to ask good questions, provide feedback, resolve conflicts, and build relationships. Effective communication is essential in both personal and professional settings and is a key component of success in many areas of life.
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A 2-column table has 9 rows. The first column is labeled monthly expenses with entries rent, utilities phone internet, groceries, entertainment, renters insurance, car/insurance/gas, discretionary spending, total expenditures, net savings. The second column is labeled amount budgeted with entries 600, 230, 300, 50, 20, 475, 75, 1,850, 100 dollars. You have decided to set a new goal of saving at least $4,500 over the course of the next year. You already have $900 saved. By how much would you need to increase your monthly net savings in order to meet this goal? $100 $150 $200 $250
Answer:
200
Explanation:
right on edge
Based on your current level of saving, you need to increase your monthly net saving by $200 to meet your target.
Amount that you need to save next year.You have already saved $900 and you want to get to $4,500. The amount left is:
= 4,500 - 900
= $3,600
Monthly savingsTo get to $3,600, you need to save:
= 3,600 / 12 months
= $300
What should you increase your net saving by?You currently save $100 so you need to increase by:
= 300 - 100
= $200
In conclusion, you need to increase savings by $200.
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What do you want to be when you grow up? Why?
Answer:game designer. reason: i love video:games
Explanation:
Answer:
a vet person
Explanation:
What is an advantage of a Limited Liability Company?
Answer:
llc ,No restrictions on the number of members allowed
pass through taxation
On freeways, passing other vehicles... Is a way of showing who is "king of the road". Should be avoided at all costs. Prevents one from becoming drowsy. Is an essential component of driving.
Answer:
is an essential component of driving
Explanation:
On freeways, passing other vehicles is an essential component of driving. On a freeway, there are a variety of lanes with each lane specified for a specific speed range which moves from slowest (far right lane) to fastest (far left lane). Many times individuals may not follow these speeds and other drivers must learn how to successfully pass these vehicles safely and correctly if they are driving in freeways.
International trade is still mostly concentrated among the developed countries of the Northern Hemisphere. Which country is the largest importer of the world?
Answer:
China&the U.S.
Explanation:
These two countries are lead producers and importers. You lift the tag of your favorite sweatshirt and see Made in China. The U.S. does'nt produce as much goods, but importing is a big U.S. sideline business. The U.S. imports alot of goods worlwide. From The Indies to The Middle East, the U.S. is a lead importer.
On January 1, 2019, when its $30 par value common stock was selling for $80 per share, Ayayai Corp. issued $11,700,000 of 8% convertible debentures due in 20 years. The conversion option allowed the holder of each $1,000 bond to convert the bond into five shares of the corporation’s common stock. The debentures were issued for $12,636,000. The present value of the bond payments at the time of issuance was $9,945,000, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January 1, 2020, the corporation’s $30 par value common stock was split 2 for 1, and the conversion rate for the bonds was adjusted accordingly. On January 1, 2021, when the corporation’s $15 par value common stock was selling for $135 per share, holders of 30% of the convertible debentures exercised their conversion options. The corporation uses the straight-line method for amortizing any bond discounts or premiums.1. Prepare the entry to record the original issuance of the convertible debentures. Account Titles and Explanation Debit Credit Cash 12420000 Premium on Bonds Payable 920000 Bonds Payable 11500000 2. Prepare the entry to record the exercise of the conversion option, using the book value is required,Account Titles and Explanation Debit Credit Bonds Payable Premium on Bonds Payable 220800 Common Stock Paid-in Capital in Excess of Par - Common Stock
Answer:
cash 12,636,000
convertible bonds payable 11,700,000 credit
premium on convertible bonds 936,000 credit
--to record the issuance--
convertible bonds payable 3,510,000 debit
premium on convertible bonds 252,720 debit
common stock 526,500 credit
additional paid-in common stock 3,236,220 credit
--to record the exercised bonds---
Explanation:
the issuance will be:
cash for the amount received
then convertible bonds payable for 11,700,000
and a premium between their face value and the market price.
12,636,000 - 11,700,000 = 936,000
IN 2020 the bonds are now convertible to 10 shares of $15 as a product of the sotkc-split
Jan 1st 30% are exercised:
bonds exercised:
11,700,000 x 30% = 3,510,000
premium at jan 1st 2021:
936,000 / 20 years x 18 years left = 842,400
Then we calculate 30%: 842,400 x 0.30 = 252,720
common stock:
3,510,000 / 1,000 per bonds x 10 shares per bonds = 35,100 new shares
35,100 x $15 = 526,500 common stock
additional paid-in common stock:
we solve for the difference:
book value of the bonds less common stock face value
(3,510,000 + 252,720) - 526,500 = 3.236.220
what is stakeholders
Answer:
A stakeholder is a party that has an interest in a company and can either affect or be affected by the business.
Hope this helped you!
Explanation:
Buying a franchise might be a good decision for someone who _____. a. wants to create a new product or service b. doesn’t want to work long hours c. doesn’t have experience developing management systems d. likes to work alone without many rules and regulations Please select the best answer from the choices provided A B C D
Answer:
its C
Explanation:
i got it right on edge
Buying a franchise might be a good decision for someone who doesn’t have experience developing management systems. The appropriate response is option C.
What is a franchise ?A franchise is a technique of selling goods or services that involves a franchisor who creates the brand's trade name and business model and a franchisee who pays a royalty and frequently an upfront fee to have the right to use the franchisor's name and system.
You can run a business if you buy a franchise as an investor or franchisee. You receive a format or system created by the business (franchisor), the right to use its name for a predetermined period of time, and help in exchange for paying a franchise fee.
Due to the pool of support provided by the franchisor and network of other franchisees, a small firm with a franchise is better able to compete with large corporations than a small business operating independently. In your territory, you often have exclusive rights.
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do you think we need to prioritize a want ?justify
Answer:
I don't think we should prioritize want
Explanation:
This question is more or less an opinion where there's no right or wrong answers.
However, I'll answer your question from my own personal view of want.
I think we do not need to give priorities to wants because, our wants, according to economics are insatiable and unlimited. Meaning that, when you give priorities to an unlimited entity called want, you will not get satisfaction due to the fact that they are unlimited.
In other words, the moment you achieve one of your wants; you will be be presented with another set of wants.
To pay for investment advice from financial consultants Smith and Jones, Tony signs a check payable to "Smith or Jones." A proper indorsement of the check is: a.not possible. b."Smith" and "Jones" only. c."Smith" only, or "Jones" only, but not "Smith" and "Jones." d."Smith" only, or "Jones" only, or "Smith" and "Jones."
Answer:
to Smith only, or Jones only, or Smith and Jones
Explanation:
In this specific scenario, a proper indorsement of the check would be to Smith only, or Jones only, or Smith and Jones. That is because a check needs to be as specific as possible and cannot have various options. The check needs to be made to a single specific individual and if it is for more than one individual then both need to be included as a requirement (and). Making it so that both recipients must cash the check together for it to be accepted.
QUESTION 7 of 10: Which is NOT a use for market research?
a) Identifying what services customers want
Ob) Deciding what merchandise to sell
O c) Determining tax deductions
O d) Forecasting sales
Submit
Answer:
The answer would be b, determining tax deductions
Explanation:
All three of the other points are ways you can find out customers needs and wants, however tax deduction is used to figure out how much tax is owed.
Eve's apples opened its business on january 1, 2018, and paid for two insurance policies effective that date. The liability policy was $34,200 for 18 months, and the crop damage policy was $14,700 for a two-year term. What is the balance in eve's prepaid insurance as of december 31, 2018
Answer:
Balance in Prepaid insurance as of December 31 is $18,750
Explanation:
Computation of Prepaid Insurance
Insurance 1 ($34,200 * 6/18) $11,400
Insurance 2 ($14,700 * 12/24) $7,350
Total Prepaid Insurance $18,750
he set of activities that transforms raw resources into the goods and services end users purchase and consume is called the:
Answer:
Value chain
Explanation:
As seen above, a value chain can be defined as the activities that transform raw materials into goods and services. That is the process that raw materials underwent to become something of value to end users that they can either purchase or that is edible.
Cheers
In a spreadsheet, there are many features that help you edit quickly.
O True
O False
Answer:True
Explanation:There are many form a quick editing hoped this helped ;) ... In a spreadsheet, there are many features that help you edit quickly.
What is the name of the practice that consists of requiring pickers to gather the items for several orders at once, but keep them separate in separate totes?
Answer: Batch picking
Explanation:
Batch picking is the practice that consists of requiring pickers to gather the items for several orders at once, but keep them separate in separate totes.
It should be noted that in batch picking, a batch of orders are picked by a single picker and this typically help in the reduction of making constant repeated trips to same location
An extended warranty contract (Select all that apply.) provides protection beyond the manufacturer's original warranty. is considered an integral part of the related product. essentially constitutes a separate performance obligation.
Answer:
provides protection beyond the manufacturer's original warranty.
essentially constitutes a separate performance obligation.
Explanation:
An extended warranty contract can be defined as an elongation of the coverage period on a service agreement between a manufacturer and the customer.
An extended warranty contract;
1. provides protection beyond the manufacturer's original warranty.
2. essentially constitutes a separate performance obligation.
On June 1, 2016, Enne Brahtz Corporation received $3,600 as advance payment for 12 months' advertising. The receipt was recorded as a credit to Unearned Fees. What adjusting entry is required on December 31, 2016?
Answer:
Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
Explanation:
The adjusting entry is shown below;
Unearned Fees ($3,600 × 6 months ÷ 12 months) $1,800
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
Here we debited the unearned fees as it decreased the liability and credited the advertising revenue as it increased the revenue account
The six months could be computed from June 1 to December 31
The adjusting entry for the transaction includes Debit to Unearned Fees $1,800 and Credit to Advertising revenue $1,800.
Date Account titles and Explanation Debit Credit
Unearned Fees $1,800
($3,600 × 6 months/ 12 months)
To Advertising revenue $1,800
(Being the adjusting entry is recorded)
In conclusion, the adjusting entry for the transaction includes Debit to Unearned Fees $1,800 and Credit to Advertising revenue $1,800.
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If the price of cocoa rises by 20 percent, the quantity supplied of cocoa rises by 4 percent. What is the elasticity of supply?
Answer: 0.2
Explanation:
Elasticity of supply shows the responsiveness to the quantity supplied for a good or service to changes in market price. Supply is Elastic if its elasticity is greater than 1 and inelastic if elasticity is less than 1
Elasticity of supply = Percentage change in quantity supplied / Percentage change in Price
= 4%/ 20%
=0.2 which is inelastic.
Pfister Corporation has Long-term Assets of $485,000, Current Liabilities of $150,000, Long-term Liabilities of $220,000 and Owners' Equity of $320,000. Compute Current Assets.
Answer:
$205,000
Explanation:
Total liabilities=current liabilities+long-term liabilities
total liabilities=$150,000+$220,000
total liabilities=$370,000
total owners'equity plus liabilities=$320,000+$370,000=$690,000
long-term assets+current assets=liabilities+owners'equity
long-term assets=$485,000
current assets are unknown
liabilities+owners'equity=$690,000
let CA represent current assets
$485,000+CA=$690,000
CA=$690,000-$485,000
CA=$205,000
Question in picture.