Gerald just received a 2% raise from his employer. However, the rate of inflation last year
was 3%. Explain why this is a problem for Gerald.

Answer:

In conclusion, he will make less money.

Explanation:

It is a problem because the rate of inflation is higher than his raise.

Th increase in Gerald's income is a problem because the percentage increase in his income is lower than the increase in inflation. This means that the purchasing power in Gerald's income is lower.

Inflation is when the general price levels in an economy rises. Inflation reduces the purchasing power of money. The inflation rate in the US in 2020 was 1.2%.

Let us assume that Gerald's income is $1000.

After the raise, his income becomes: (1.02 x 1000) = $1020

As a result of the inflation, the increase in income needed to keep purchasing power constant is: (1.03 x $1000) = $1030.

The increase in Gerald's income is less than the inflation rate. This means that the purchasing power of Gerald would be lower.

To learn more about inflation, please check: https://brainly.com/question/19170370?referrer=searchResults

Exercise 4-7 (Algo) Effects of sales transactions on income statement LO P2

Use the above informations, analyze each transaction by indicating its effects on the income statement-specifically, identify the

accounts and amounts (including + or -) for each transaction.

EBIT of $2 million, total assets of $10 million, stockholders’ equity of $4 million, and pretax interest expense of 10 percent. What is AQ&Q’s indifference level of EBIT? Select one: a. $2.0 million b. $1.78 million c. $1.0 million d. $1.5 million

Nội dung bài nộp:

- Một biên bản thỏa thuận với các vai trò và trách nhiệm

- Ba báo cáo trạng thái theo yêu cầu lưu trữ hồ sơ: 25%, 50% và 75%.

- Báo cáo quản lý rủi ro: các yêu cầu thay đổi và / hoặc nhật ký vấn đề

- Dự thảo chuyển giao đảm bảo được chất lượng dự án.

- Các sản phẩm cuối cùng của dự án.

Flyer Company has provided the following information prior to any year-end bad debt adjustment: Cash sales, $159,000 Credit sales, $459,000 Selling and administrative expenses, $119,000 Sales returns and allowances, $39,000 Gross profit, $499,000 Accounts receivable, $195,000 Sales discounts, $23,000 Allowance for doubtful accounts credit balance, $2,100 Flyer estimates bad debt expense assuming that 2% of credit sales have historically been uncollectible. What is the balance in the allowance for doubtful accounts after bad debt expense is recorded?

Several companies in the EU were importing safety footwear from Argentina. Specifically, thousands of pairs of steel-toed boots were being imported for end use by workers in hazardous industries, such as mining, construction, and manufacturing. The EU became concerned that the steel inside the footwear was not of the agreed upon quality and so it called upon the ________ to monitor and enforce the trade agreement.

describe the 5 office layout.​

Glacier Bicycle Company manufactures commuter bicycles from recycled materials. The following data for October are available:

Quantity of direct labor used 5,000 hrs.
Actual rate for direct labor $22.75 per hr.
Bicycles completed in October 800 bicycles
Standard direct labor per bicycle 6.0 hrs.
Standard rate for direct labor $24.00 per hr.

Requried:
a. Determine for October the direct labor rate variance, direct labor time variance, and total direct labor cost variance.
b. How much direct labor should be debited to Work in Process?

Which of the following helps determine something's value?
O A. utility
O B. beauty
O C. scarcity
D. both A and C

Anong ahensya kaya ng gobyerno ang dapat makialam sakasong ito?

While in Chicago for a weekend, Tony's friend suggests that he eat at Michael Jordan's restaurant. Tony is confused as to why Michael Jordan has a restaurant if he isn't a chef. What is likely Michael Jordan's involvement in his restaurant as he is not a chef?

a. He may have financially invested in it, and he has lent his name to the establishment.

b. He is likely learning to cook from the chefs at his restaurant.

c. He likely manages the kitchen on a daily basis.

d. He likely has no involvement, and the owners just used his name.

What benefits will the promotion of consumption and sales revenue bring to businesses?

Why Corporations Hedge?

Harvey quit his job at State University, where he earned $62,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $4,000 a year. To start the business, he cashed in $50,000 in bonds that earned 10 percent interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 10,000 units of software at $72 for each unit. Of the $72 per unit, $60 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The accounting profit of Harvey's firm in the first year was: _________

Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy. Disposable Income and Consumption Disposable Income (dollars) Consumption (dollars) $0 $9,000 8,500 15,500 18,500 22,000 28,500 28,500 38,500 35,000 48,500 41,500 Instructions: In parts a and c, enter your answers as a whole number. In part b, round your answers to two decimal places. a. What is the equilibrium level of consumption

what is a current account?​

A stock is expected to pay annual dividends forever. The first dividend is expected in 1 year and all subsequent annual dividends are expected to grow at a constant rate annually. We know that the dividend expected in 2 years from today is $4.76 and the dividend expected in 5 years from today is expected to be $6.63. What is the dividend expected to be in 3 years from today

Hàm số cầu của tảo hàng năm có dạng: Qd = 10 – P/2. Mùa thu hoạch năm trước là 8 ngàn tấn. Năm nay, thời tiết không thuận lợi nên lượng thu hoạch táo năm nay chỉ đạt 7 ngàn tấn ( táo không thể tồn trữ)

Linwood Johnson has a check for $1395.50 in a check for 876 callers and $.25 he also has $10 in one dollar bills he would like to receive $475 in cash and deposit the rest of the money in the savings account watch the total deposit

The monthly demand for a part is 1,500 units.
(a) EOQ, (b) annual holding cost, (c) annual order cost, and (d) annual total inventory cost.

Assignment I

1. On March 1, 2020, Tahir Muktar, a famous businessman in Addis, opened a business named “Universal Garage” which is organized as a sole proprietorship. The business is established to render car repair, maintenance and related services for fees. Below are chart of accounts for and selected transactions completed by Universal Garage in March 2020.


a) Chart of accounts

Universal Garage

Chart of Accounts


100 ASSETS

110 CURRENT ASSETS

111 Cash

112 Accounts Receivable

114 Supplies

116 Prepaid Rent

117 Prepaid Insurance

120 PLANT ASSETS

121 Land

123 Machinery

123.1 Accumulated Depreciation-Machinery

125 Office Equipment

0.1 Accumulated Depreciation-Office Equipment


200 LIABILITIES

210 CURRENT LIABILITIES

211 Account Payable

213 Salaries Payable

216 Interest Payable

220 NON-CURRENT LIABILITIES

221 Long-term Bank Loan


300 OWNER'S EQUITY

301 Tahir, Capital

302 Tahir, Drawings

303 Incomes Summary


400 REVENUES

401 Fees Earned

410 Other Income


500 EXPENSES

501 Salary Expenses

502 Supplies Expenses

503 Rent Expenses

504 Insurance Expenses

505 Depreciation Expenses

506 Interest Expenses

510 Miscellaneous Expenses




b) Transactions

Mar 1 Received the following assets from its owner, Tahir:

Cash....................................... Br, 8,300

Supplies ................................. 2,000

Office Equipment................... 10,000

2 Borrowed Br 5,000 from Dashen Bank

3 Paid Br 1,800 for rent on a building leased for business purposes

3 Purchased welding and other repair machinery for Br 3,600 cash

4 Paid Br 200 for a radio advertisement

8 Sold for Br 200 cash an old office equipment with a recorded cost of Br 200

13 Paid weekly salary Br 1,200

16 Received Br 4,400 from services rendered on cash

20 Paid weekly salary Br 1,200

20 Received Br500 royalties for idle repair machinery it leased to other businesses

20 Delivered service on credit, Br 6,000

21 Purchased additional repair machinery on account for Br 2,000 from Sámi-Engineers

23 Received Br 5,000 additional cash investment from its owner

24 Repaid Br 1,000 bank loan and paid Br 100 interest on bank loan

26 Purchased supplies for Br 800 cash

27 Paid Br 100 for customer entertainment and other items

27 Paid weekly salary Br 1,200

31 Paid Br 500 for electricity and other utilities consumed during the month

31 Received Br 4,200 cash from credit customers

31 Paid Tahir Br 1,800 for personal uses


Required:

a) Journalize the above transactions in a two-column journal

b) Post the journal entries to “T” accounts

c) Prepare and complete a worksheet based on the following additional information

i. Cost of supplies remained unconsumed on Mar 31 is Br 900

ii. The amount paid on Mar 3 is for a three-month rent

iii. The amounts of depreciation for machinery and office equipment are estimated to be Br 560 and Br 1,900 respectively

iv. Universal Garage usually pays Br 1,200 for employee's salary every saturday for a six-day work week ended on that day

v. Interest on bank loan accrued but not paid on March 31 total Br 100

d) Prepare financial statements for the month

e) Journalize and post adjusting entries

f) Journalize and post closing entries

g) Prepare post-closing trial balance

Phân tích điều kiện bản thân với tư cách là người chủ doanh nghiệp

Huff Company presents the following items derived from its December 31, 2019, adjusted trial balance:

Sales (net) $124,000 Operating expenses $30,400
Interest expense 3,700 Common stock, $5 par 22,000
Cost of goods sold 66,200 Retained earnings, 1/1/201 945,800

The following information is also available for 2019 and is not reflected in the preceding accounts:The common stock has been outstanding all year. A cash dividend of $1.28 per share was declared and paid.

Land was sold at a pretax gain of $6,300
Division X (a major component of the company) was sold at a pretax gain of $4,700.
It had incurred a $9,500 pretax operating loss during 2019.
A tornado, which is an unusual event in the area, caused a $5,400 pretax loss.
The income tax rate on all items of income is 30%.
The average shareholders' equity is $90,000.

Required:
a. Prepare a 2016 multiple-step income statement for Huff.
b. Prepare a 2016 retained earnings statement.

Which of the following is an example of unearned income?
Compensation received by a self-employed, freelance writer for services provided.
Interest earned on a savings account.
Tips.
Wages from a part-time job.

Citee Corp. has no debt but can borrow at 6.7 percent. The firm’s WACC is currently 9.5 percent, and the tax rate is 24 percent. a. What is the company’s cost of equity? b. If the firm converts to 30 percent debt, what will its cost of equity be? c. If the firm converts to 60 percent debt, what will its cost of equity be? d-1. If the firm converts to 30 percent debt, what is the company’s WACC? d-2. If the firm converts to 60 percent debt, what is the company’s WACC?

What is sociology? Types sociology

On January 1, 2021, Ackerman Company acquires 80% of Seidel Company for $1,712,000 in cash consideration. The remaining 20 percent noncontrolling interest shares had an acquisition-date estimated fair value of $428,000. Seidel’s acquisition-date total book value was $1,700,000. The fair value of Seidel’s recorded assets and liabilities equaled their carrying amounts. However, Seidel had two unrecorded assets—a trademark with an indefinite life and estimated fair value of $245,000 and several customer relationships estimated to be worth $180,000 with four-year remaining lives. Any remaining acquisition-date fair value in the Seidel acquisition was considered goodwill. During 2021, Seidel reported $172,000 net income and declared and paid dividends totaling $50,000. Also in 2021, Ackerman reported $350,000 net income, but neither declared nor paid dividends. What amount should Ackerman assign to the 20 percent noncontrolling interest of Seidel at the acquisition date? How much of 2021 consolidated net income should be allocated to the noncontrolling interest? What amount of 2021 dividends should be allocated to the noncontrolling interest? What amount of noncontrolling interest should appear in the owners’ equity section of Ackerman’s consolidated balance sheet at December 31, 2021?

Bryant Manufacturing produces its product in two sequential processing departments. During October, the first process finished and transferred 310,000 units of its product to the second process. Of these units, 65,000 were in process at the beginning of the month and 245,000 were started and completed during the month. At month-end, 45,000 units were in process. Using the FIFO method, compute the number of equivalent units of production for direct materials for the first process for October assuming that beginning work in process inventory is 30% complete for direct materials cost and ending inventory is 80% complete for direct materials cost.

What are human behavior in Organization?

Question 9
A wage is a specific amount of money paid per

Something of value that is stored on a computer is called a

A. digital asset
B. digital avatar
C. digital device
D. digital payment