Business College

Help! (Also ignore my mouse)

Answers

Answer 1

Answer:

License: legal permission to work granted by the government

Associated degree: general two-year college-level degree

Career college: a one or two-year program ending with a certificate

Bachelor's degree: four-year college level degree

Apprenticeship: an on-the-job training experience

Explanation:

License: legal permission to work granted by the government

Associated degree: general two-year college-level degree

Career college also called vocational school: a one or two-year program ending with a certificate

Bachelor's degree: four-year college level degree

Apprenticeship: an on-the-job training experience

Related Questions

Branch Adjustment account is in the nature of :
Real account
O Nominal account
Personal account
>
O None of these

Answers

Answer:

B. Nominal Account.

Explanation:

Branch accounting is a system of bookkeeping that uses a system of separate branch accounting. This branch is also known as the operating locations of an organization.

The account which uses branch adjustment accounting is a nominal account. The nominal account is the general ledger account that closes its account at the end of every year, using branch accounting.

Therefore, option B is correct.

Question 8 of 10
Which of the following features might a kiosk use to engage shoppers?
O A. Several endcaps
OB. A touch screen computer
OC. A billboard
OD. Point-of-sale signs
SUBMIT

Answers

Answer:B. A touch screen computer

Explanation:

A screen touch computer might a kiosk use to engage shoppers. Thus, the correct answer is option B.

What is a computer?

A computer is a machine that can be programmed to automatically perform sequences of arithmetic or logical operations (computation). Programs are generic sets of operations that modern digital electronic computers can perform. These programmes allow computers to perform a variety of tasks.

A touch screen is a type of electronic display screen that also functions as an input device. A user interacts with a computer, tablet, smartphone, or touch-controlled appliance by tapping pictures, moving elements, or typing words on the screen with hand gestures and fingertip movements.

Therefore, a touch screen computer is useful for kiosk to engage shoppers.

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Exercise 11-15 Dropping or Retaining a Segment [LO11-2] Thalassines Kataskeves, S.A., of Greece makes marine equipment. The company has been experiencing losses on its bilge pump product line for several years. The most recent quarterly contribution format income statement for the bilge pump product line follows: Thalassines Kataskeves, S.A. Income Statement—Bilge Pump For the Quarter Ended March 31 Sales $ 850,000 Variable expenses: Variable manufacturing expenses $ 330,000 Sales commissions 42,000 Shipping 18,000 Total variable expenses 390,000 Contribution margin 460,000 Fixed expenses: Advertising (for the bilge pump product line) 270,000 Depreciation of equipment (no resale value) 80,000 General factory overhead 105,000 * Salary of product-line manager 32,000 Insurance on inventories 8,000 Purchasing department 45,000 † Total fixed expenses 540,000 Net operating loss $ (80,000 ) *Common costs allocated on the basis of machine-hours. †Common costs allocated on the basis of sales dollars. Discontinuing the bilge pump product line would not affect sales of other product lines and would have no effect on the company’s total general factory overhead or total Purchasing Department expenses. Required: What is the financial advantage (disadvantage) of discontinuing the bilge pump product line?

Answers

Answer:

-$150,000

Explanation:

Calculation to determine the financial advantage (disadvantage) of discontinuing the bilge pump product line

First step is to calculate the fixed expense

Using this formula

Fixed expense

= Advertising (for the bilge pump product line) + Salary of product-line manager + Insurance on inventories

Let plug in the formula

Fixed expense= 270,000 + 32,000 + $8,000

Fixed expense= $310,000

Now let calculate the financial advantage (disadvantage)

Using this formula

Financial advantage (disadvantage) = Fixed expense-Contribution margin

Let plug in the formula

Financial advantage (disadvantage) = $310,000-460,000

Financial advantage (disadvantage) = -$150,000

Therefore the financial advantage (disadvantage) of discontinuing the bilge pump product line is -$150,000

A firm is considering two projects. Project Peso requires an initial investment of $100,000. The Internal Rate of Return for Project Peso is 10.6%. Project Quasi requires an initial investment of $90,000. The Internal Rate of Return for Project Quasi is 12.6%. The WACC is 9%. The two projects are independent. What decision should the firm make

Answers

Answer:

to accept both the projects i.e. Project Peso and Project Quasi

Explanation:

As we can see in the given case, that the weighted average cost of capital on the projects is 9% while on the other hand, Perso and Quasi both have the internal rate of return 10.6% and 12.6% i.e. above 9% so based on this, the decision that should firm make is to accept both the projects i.e. Project Peso and Project Quasi

The same would be relevant

The Pines Company, which manufactures office equipment, is ready to introduce a new line of portable copiers. The following copier data are available:
Variable manufacturing cost $ 180
Variable selling and administrative cost 90
Applied fixed manufacturing cost 60
Allocated fixed selling and administrative cost 75
What price will the company charge if the firm uses cost-plus pricing based on total manufacturing cost and a markup percentage of 160%?

Answers

Answer:

$ 624

Explanation:

Given :

Variable manufacturing cost = $ 180

Applied fixed manufacturing cost = $ 60

Therefore, total manufacturing cost = 180 + 60

= $ 240

Mark up percentage = 160%

Price to be charged = 240 + 160% of 240

= 240 + 384

= $ 624

Ann Chovies, owner of the Perfect Pasta Pizza Parlor, uses 20 pounds of pepperoni each day in preparing pizzas. Ann works 300 days per year so she needs to buy a total of 6,000 pounds of pepperoni. Order costs for pepperoni are $75 per order, and carrying costs are $.10 per pound per year. Ann has a hurdle rate of 10%, and the pepperoni that Ann buys from her supplier costs $3 per pound.
What is the EOQ for pepperoni?
a. 1,000 pounds.
b. 1,500 pounds.
c. 2,000 pounds.
d. 2,500 pounds.

Answers

Answer:

b. 1,500 pounds.

Explanation:

::::::

What is the relationship between organizational design and human resources?

Answers

Answer:

There is a clear relationship between organizational design and human resources. Thus, the main purpose of organizational design is to organize the human resources of a certain project or business, with the aim of maximizing the performance of each of the human components that are part of the organization.

Therefore, between organizational design and human resources there is a structural dependency relationship, by means of which human resources are organized and therefore function according to the organizational design proposed by the managers of the organization.

Lauhl Corporation provides janitorial services to several office buildings. During April, Lauhl engaged in the following transactions:______.
a. On April 1, Lauhl received $24,000 from Metro Corporation to provide cleaning services over the next 6 months.
b. On April 5, Lauhl purchased and received $8,500 of supplies on credit from Eagle Supply Company. During the month, Lauhl paid $5,000 to Eagle and used $1,300 of the supplies.
c. On April 20, Lauhl performed one-time cleaning services of $2,500 for Jones Company. Jones paid Lauhl the full amount on May 10.
d. On April 30, Lauhl paid employees wages of $3,400. An additional $850 was owed to employees for work performed in April.
Required:
Calculate the amount of net income that Lauhl should recognize in April under (1) cash-basis accounting and (2) accrual-basis accounting?

Answers

Answer:

Cash-basis accounting $15,600

Accrual-basis Accounting $7,750

Explanation:

A. Calculation to determine the amount of net income that Lauhl should recognize in April under cash-basis accounting

Cash-basis accounting

=$24,000 -$5000-$3,400

Cash-basis accounting =$15,600

Therefore the amount of net income that Lauhl should recognize in April under cash-basis accounting is $15,600

B. Calculation to determine the amount of net income that Lauhl should recognize in April under the accrual-basis Accounting

Accrual-basis Accounting=($24,000/6) -$1300 + $2500 - $3,400 - $850

Accrual-basis Accounting=$4,000-$1,300+$2,500+$3,400-$850

Accrual-basis Accounting=$7,750

Therefore the amount of net income that Lauhl should recognize in April under the accrual-basis Accounting is $7,750

The amount of net income that Lauhl should recognize in April under

(1) Accrual-basis accounting is $7,750

(2) Cash-basis accounting is $15,600

A. What is cash basis accounting?

Cash basis refers to a major accounting method that recognizes revenues and expenses at the time cash is received or paid out.

Calculation of cash-basis accounting

= $24,000 - $500 - $3,400

= $15,600

Hence, the amount of net income that Lauhl should recognize in April under cash-basis accounting is $15,600

B. What is accrual-basis Accounting?

Accrual accounting recognizes revenue when it's earned and expenses when they're incurred, regardless of when money actually changes hands.

Calculation of Accrual-basis accounting.

= ($24,000/6) - $1300 + $2500 - $3,400 - $850

= $4,000 - $1,300 + $2,500 + $3,400 - $850

= $7,750

Hence, the amount of net income that Lauhl should recognize in April under the accrual-basis Accounting is $7,750

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A subsidiary of Porter Inc., a U.S. company, is located in France. The functional currency of this subsidiary is the dollar. The subsidiary acquired inventory on credit on November 1, 2020, for 200,000 Euro. The inventory was sold on January 17, 2021 for E250,000. The subsidiary paid for the inventory on January 31, 2021. Currency exchange rates between the dollar and the Euro were as follows:
November 1, 2019 E1=1.32
December 31, 2019 E1=1.30
January 17, 2020 E1= 1.21
October 1, 2018 E1=1.35
December 31, 2018 E1=1.15
The inventory balance for this inventory in Porter's consolidated balance sheet at December 31, 2019 was _________

Answers

Answer:

Explanation:

According to the scenario, computation of the given data are as follows,

Date of acquire = November 1,2020

Inventory sold on date = January 17,2021

Payment for inventory = January 31,2021

So, inventory balance for the given inventory in Porter's consolidated balance sheet on December 31,2019 was $0, because there was no transaction done on or before December 31,2019.

Fiat money has value based on:
O A. the role it plays in traditional religious ceremonies.
O B. the type of material that was used to make it.
O C. a government declaring that it is a legal currency.
O D. an agreement that it can be exchanged for something else.

Answers

Answer:

D.an agreement that it can be exchanged for something else.

Explanation:

The value is given thanks to the people who trust the group or gov. that is emmiting this money.

what is human resource managment

Answers

Explanation:

Human resource management, or HRM, is defined as the process of managing employees in a company and it can involve hiring, firing, training and motivating employees.

An example of human resource management is the way in which a company hires new employees and trains those new workers.

noun

Answer:Human aid management is the strategic approach to the powerful management of people in a agency or corporation such that they assist their business gain a competitive benefit. it's far designed to maximise employee overall performance in provider of an corporation's strategic targets.

Explanation:

Why is it important to reconcile your bank statements?

Answers

Answer:

hen you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.

Explanation:

Answer:

When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.

Three magazines—Car Fancier, Automobeat, and Autos Illustrated—direct their messages at a similar target audience. The following data show the number of ad pages sold for each magazine last year:

Car Fancier: 337.5
Automobeat: 604
Autos Illustrated: 408.5

Calculate the percentage share Car Fancier has for the time period.

Answers

Answer: 25%

Explanation:

First find the total number of ad pages sold for all the magazines:

= 337.5 + 604 + 408.5

= 1,350 pages

Car Fancier has 337.5 pages out of that so their percentage share is:

= 337.5 / 1,350

= 25%

Kyle Corporation is comparing two different capital structures, an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 715,000 shares of stock outstanding. Under Plan II, there would be 465,000 shares of stock outstanding and $6.75 million in debt outstanding. The interest rate on the debt is 7 percent, and there are no taxes.
a. Assume that EBIT is $1.6 million. Compute the EPS for both Plan I and Plan II.
b. Assume that EBIT is $3.1 million. Compute the EPS for both Plan I and Plan II.
c. What is the break-even EBIT?

Answers

Answer:

EPS = (Net income - Dividends) / Average number of share

a. Plan 1

Number of share = 715,000

EPS = $1,600,000/715,000

EPS = 2.23 (EBIT = Net Income as Interest and tax are 0)

Plan 2

Net income = EBIT = $1.6 million = $1,600,000

Interest = 0.07*$6,750,000 = $472,500

EBT = $1,600,000 - $472,500 = $1,127,500

Tax = 0

Net Income = 1,127,500 (1)

Number of share = 465,000

EPS = $1,127,500/465000

EPS = 2.42 (Net Income from 1)

b. Plan 1

EPS = $3,100,000/715000 = $4.33

Plan 2

When EBIT = $3,100,000

Interest = 0.07*$6,750,000 = $472,500

Net Income = $3,100,000 - $472,500 = $2,627,500

EPS = $2,627,500/465,000

EPS = 5.65 (From 2)

c. Plan 1 EBIT = Plan 2 EBIT to calculate break-even EBIT

EBIT/715,000 = (EBIT - 0.07*$6,750,000)/465,000

EBIT = $1,351,350

Desmond is 25 years old and he participates in his employer’s 401(k) plan. During the year, he contributed $3,000 to his 401(k) account. What is Desmond’s 2016 saver’s credit in each of the following alternative scenarios?
a) Desmond is not married and has no dependents. His AGI after deducting his 401(k) contribution is $34,000.
b) Desmond is not married and has no dependents. His AGI after deducting his 401(k) contribution is $17,500.
c) Desmond files as a head of household and has an AGI of $44,000.
d) Desmond and his wife file jointly and report an AGI of $30,000 for the year.

Answers

Answer: See explanation

Explanation:

The savers credit is mostly used to motivate taxpayers so that they'll contribute to their retirement plans.

a. Desmond is not married and has no dependents. His AGI after deducting his 401(k) contribution is $34,000.

In this case, there'll be no credit that's available for Desmond as he'll be all under files AGI and his maximum savers credit will be $0.

b) Desmond is not married and has no dependents. His AGI after deducting his 401(k) contribution is $17,500.

Since he's single and doesn't have dependents, and his AGI is $17500, therefore, the saver's credit of Desmond will be 50% of $2000 which will be:

= 50% × $2000.

= 0.5 × $2000

= $1000

c) Desmond files as a head of household and has an AGI of $44,000.

Here, his percentage of saver's credit will be 10% of $2000 because he AGI of $44,000 which falls between $30001 - $46125. Therefore savers income will be:

= 10% × $2000

= 0.1 × $2000

= $200

d) Desmond and his wife file jointly and report an AGI of $30,000 for the year.

Here, the saver's percentage used will be 50% of $2000 and this will be:

= 50% × $2000

= 0.5 × $2000

= $1000

contribution marginJayleen Company makes two products: Carpet Kleen and Floor Deodorizer. Operating information from the previous year follows. Carpet Kleen Floor Deodorizer Units produced and sold 5,000 4,000 Machine hours used 5,000 2,000 Sales price per unit $ 7 $ 10 Variable cost per unit $ 4 $ 8 Fixed costs of $20,000 per year are presently allocated equally between both products. If the product mix were to change, total fixed costs would remain the same. The contribution margin per machine hour for Floor Deodorizer is:

Answers

Answer:

Contribution per machine hour = $4 per machine hour

Explanation:

The contribution per machine is the total contribution made divided by the total machine hours consumed.

Contribution per machine hour = Total contribution/Total machine hours

The total contribution made = Unit contribution × unit sold

unit contribution = selling price - variable cost

= 10-8= $2 per unit

Total contribution = $2× 4,000= $8,000

Total machine hour = 2,000

Contribution per machine hour= 8,000/2,000 = $4 per machine hour

Contribution per machine hour = $4 per machine hour

Friar's Corporation expects to sell 22,000 pool cues for $12 each. Direct materials costs are $3, direct manufacturing labor is $4, and manufacturing overhead is $0.84 per pool cue. The following inventory levels apply to 2019: Beginning inventory Ending inventory Direct materials 33,000 units 33,000 units Work-in-process inventory 0 units 0 units Finished goods inventory 1,400 units 2,500 units 21) On the 2019 budgeted income statement, what amount will be reported for cost of goods sold

Answers

Answer:

see explanation

Explanation:

Cost of goods sold = Opening Finished Goods + Cost of Goods Manufactured - Ending Finished Goods

Therefore apply the 22,000 to determine the Cost of Goods Manufactured and then the Cost of goods sold.

Which of the following is a true statement?

(A) New products introduce risk into a portfolio as well as future potential profits.

(B) A company’s product portfolio is assured of success by adding new products.

(C) New products bring great rewards with little risk.

Answers

Answer:

I think it's C, New products bring great rewards with little risk

The correct option is (A) .As we know introducing a product is not that much fast and easy because it automatically contains greater risk in it.

What does the new product mainly contain?

Introducing a new product is the most important component of a product portfolio. As it contains greater risk but it also contains greater rewards too.

How can we explain it with a help of an example?

When a company launches new products it automatically contains the risk that if it would be opened in the market what would be the customer's reaction, whether a customer would like it or not. If the customer like the product risk would convert into a reward for the company and if not then it would get a loss to the company. This profit and loss to the company affect the portfolio the most.

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start and explain five importance of HRM

Answers

Answer:

Human Resource Management deals with issues related to compensation, performance management, organisation development, safety, wellness and others. HRM plays a role in managing people and the workplace culture and environment

Explanation:

When the Federal Reserve decreases bank's reserves through an open-market operation: ____________

a. deposits increase, currency in circulation increases, and the monetary base remains the same.
b. the monetary base decreases, the money multiplier decreases, and the money supply increases.
c. loans increase, the federal funds rate rises, and the discount rate rises.
d. the monetary base decreases, loans decrease, and the money supply decreases.

Answers

Answer:

d. the monetary base decreases, loans decrease, and the money supply decreases.

Explanation:

In the case when the federal reserve reduce the reserve of the bank via open market operation so it would be resulted in decrease in the monetary base, reduction in the loan and the reduction in the money supply. Overall, all three things would be decrease

Therefore as per the given situation, the option d is correct

And the same would be relevant

The Federal Reserve Board in the United States of America's banking system. After a series of financial panics, the desire for central control of the monetary system to ameliorate debt meltdown led to the passing of the Federal Reserve Act on December 23, 1913.

The correct option is d. the monetary base decreases, loans decrease, and the money supply decreases.

When the Federal Reserve decreases a bank's reserve through an open market operation, the monetary base, loan volume, and money supply are all reduced. All three things would be reduced in total.

As a result, option d is right in the current situation.

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Getaway Travel Company reported net income for 2021 in the amount of $68,000. During 2021, Getaway declared and paid $18,000 in cash dividends on its nonconvertible preferred stock. Getaway also paid $28,000 cash dividends on its common stock. Getaway had 58,000 common shares outstanding from January 1 until 28,000 new shares were sold for cash on July 1, 2021. A 2-for-1 stock split was granted on July 5, 2021. What is the 2021 basic earnings per share

Answers

Answer:

$0.35 per share

Explanation:

According to the scenario, computation of the given data are as follows,

Net income = $68,000

Preferred cash dividend = $18,000

So, we can calculate the basic earning per share by using following formula,

Basic Earning per share = ( Net income - Preferred cash dividend) ÷ Outstanding common shares

= ($68,000 - $18,000) ÷ [( 58,000 × 2) + (28,000 × 2 × 6/12)

= $50,000 ÷ [ 116,000 + 28,000]

= $50,000 ÷ 144,000

= $0.35 per share

Burcham Corporation reported pretax book income of $600,000. Tax depreciation exceeded book depreciation by $400,000. In addition, the company received $300,000 of tax-exempt municipal bond interest. The company's prior-year tax return showed taxable income of $50,000. Compute the company's book equivalent of taxable income. - Use this number to compute the company's total income tax provision or benefit, assuming a tax rate of 34%.

Answers

Answer: See explanation

Explanation:

Pre-tax book income = $600,000

Less: Tax exempt interest = $300,000

Book equivalent of taxable income = $600,000 - $300,000 = $300,000

The company's total income tax provision or benefit, assuming a tax rate of 34% will be:

= 34% × $300,000

= 0.34 × $300,000

= $102,000

Tara incorporates her sole proprietorship, transferring it to newly formed Black Corporation. The assets transferred have an adjusted basis of $290,000 and a fair market value of $300,000. Also transferred by Tara was $50,000 in liabilities, all related to the business. In return for these transfers, Tara receives all of the stock in Black Corporation.

a. Black Corporation has a basis of $241,000 in the property.
b. Black Corporation has a basis of $240,000 in the property.
c. Tara’s basis in the Black Corporation stock is $241,000.
d. Tara’s basis in the Black Corporation stock is $249,000.
e. None of the above.

Answers

Answer:

Black Corporation

e. None of the above.

Explanation:

a) Data and Calculations:

Adjusted basis of assets = $290,000

Fair market value of assets = $300,000

Liabilities transferred = $50,000

Black Corporation's basis = $250,000 ( $300,000 - $50,000)

Tara's basis in the Black Corporation = $240,000

b) According to U.S. Code 351, no gain or loss shall be recognized for Tara if property is transferred to Black Corporation by Tara solely in exchange for stock in Black Corporation, and immediately after the exchange, Tara comes into the control of Black Corporation.

Consider each of the transactions below. All of the expenditures were made in cash.
The Edison Company spent $25,000 during the year for experimental purposes in connection with the development of a new product.
In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $8,500.
In March, the Cleanway Laundromat bought equipment. Cleanway paid $19,000 down and signed a noninterest-bearing note requiring the payment of $24,500 in nine months. The cash price for this equipment was $38,000.
On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $41,000.
The Mayer Company, plaintiff, paid $25,000 in legal fees in November, in connection with a successful infringement suit on its patent.
The Johnson Company traded its old machine with an original cost of $13,900 and a book value of $6,900 plus cash of $10,600 for a new one that had a fair value of $13,900. The exchange has commercial substance.

Answers

Answer:

1. Dr Research and development expenses $25,000

Cr Cash $25,000

2. Dr Legal fees expenses $8,500

Cr Cash $8,500

3. Dr Equipment $38,000

Dr Discount on Note Payable $5,599

Cr Cash $19,000

Cr Note Payable $24,500

4. Dr Building - sprinkler system $41,000

Cr Cash $41,000

5. Dr Patent $25,000

Cr Cash $25,000

6. Dr Equipment new $13,900

Dr Accumulated Depreciation - equipment $7,000

Dr Loss on trade in $3,600

Cr Cash $10,600

Cr Equipment - old $13,900

Explanation:

Preparation of the journal entries

1. Dr Research and development expenses $25,000

Cr Cash $25,000

2. Dr Legal fees expenses $8,500

Cr Cash $8,500

3. Dr Equipment $38,000

Dr Discount on Note Payable $5,599

($38,000-$19,000-$24,500)

Cr Cash $19,000

Cr Note Payable $24,500

4. Dr Building - sprinkler system $41,000

Cr Cash $41,000

5. Dr Patent $25,000

Cr Cash $25,000

6. Dr Equipment new $13,900

Dr Accumulated Depreciation - equipment ($13,900 - $6,900) $7,000

Dr Loss on trade in $3,600

($10,600+$13,900-$13,900-$7,000)

Cr Cash $10,600

Cr Equipment - old $13,900

On January 3, 2020, Hanna Corporation signed a lease on a machine for its manufacturing operation and the lease commences on the same date. The lease requires Hanna to make six annual lease payments of $12,000 with the first payment due December 31,2020. Hanna could have financed the machine by borrowing the purchase price at an interest rate of 7%. a. Prepare the journal entries that Hanna Corporation would make on January 3 and December 31, 2020, to record this lease assuming. i. the lease is reported as an operating lease. ii. the lease is reported as a finance lease. b. Post the journal entries of part a to the appropriate T-accounts. c. Show how the entries posted in part b would affect the financial statements using the financial statement effects template.

Answers

Answer:

Hanna Corporation

a. Journal entries that Hanna Corporation would make on January 3 and December 31, 2020 to record this lease assuming:

i. the lease is reported as an operating lease:

January 3, 2020: No journal entry

December 31, 2020:

Debit Lease Expense $12,000

Credit Cash $12,000

To record the payment for the operating lease.

ii. the lease is reported as a finance lease:

January 3, 2020:

Debit Right to Use Asset $57,198.48

Credit Lease Liability $57,198.48

To recognize the right to the leased asset and establish the related liability.

December 31, 2020:

Debit Lease Liability $7,996,11

Debit Interest Expense $4,003.89

Credit Cash $12,000

To record the payment for the lease liability and interest expense.

b. T-accounts;

Operating lease:

Cash Account