It must be true that in Hypothetica in 2007 the price level and/or the real GDP have increased if the nation's nominal gross domestic product (GDP) grew in comparison to the year before. Henec, choice C is correct.
Gross domestic product (GDP) that hasn't been adjusted for inflation is referred to as nominal GDP. By reflecting the values of all the goods and services produced during the current reporting period, current price estimates of GDP are created. Simply said, real GDP measures economic production taking into account price changes in the market, while nominal GDP measures economic production at current market prices (deflation or inflation).
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covington pharmacies has decided to automate its insurance claims process. two networked computer systems are being considered. the systems have an expected life of two years. the net cash flows associated with the systems are as follows. the cash benefits represent the savings created by switching from a manual to an automated system. The company's cost of capital is 10 percentCompute the NPV and the IRR for each investment
Covington Pharmacies has 2 system-scenarios, which:
System I: NPV = $14,396; IRR = 16.4%
System II: NPV = $12,949; IRR = 18.0%
Net Present Value or NPV is the investment analysis that calculates the different between the present value of cash inflows and outflows over a period of time. NPV helps companies to determine wheter an investment is economically profitable or not.
NPV can be calculated by projecting the future cash flows into its present value and substracting the values from the original cash outlays. An investment could be counted as profitable and financially worthwhile if its NPV result is above zero.
Internal Rate of Return (IRR) represents an investment potential profitability in a percentage value. IRR will use the zero factor NPV equation and find its unknown discount rate.
The following is the calculation of NPV and IRR for the 2 scenarios we have:
System I
Year Cash flow PV Factors PV
0 $(120,000) 1 $(120,000
1 $ - 0.909 $ -
2 $162,708 0.826 $134,396.81
NPV $14,396.81
IRR 16.4%
System II
Year Cash flow PV Factor PV
0 $(120,000) 1 $(120,000)
1 $76,628 0.909 $69,654.85
2 $76,628 0.826 $63,294.73
NPV $12,949
IRR 18.0%
Based on the calculations above, we know that both investments are profitable and financially worthwile. But if Covington has to choose 1 option, then System I would be a better option for Covington because this system projected more financially profitable compare to system II.
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Which of the following questions would most likely be included in an internal control questionnaire concerning the completeness assertion for purchases?
A. Is an authorized purchase order required before the receiving department can accept a shipment or the vouchers payable department can record a voucher?
B. Are purchase requisitions prenumbered and independently matched with vendor invoices?
C. Is the unpaid voucher file periodically reconciled with inventory records by an employee who does not have access to purchase requisitions?
D. Are purchase orders, receiving reports, and vouchers prenumbered and periodically accounted for?
The right answer is D. A corporation can determine that purchases are fully recorded by prenumbering and accounting for purchase orders, receiving reports, and vouchers.
What exactly is an internal control questionnaire?Auditors utilize a COSO internal control questionnaire to assess whether an organization complies with the standards for internal control systems established by the Committee of Sponsoring Organizations of the Treadway Commission (COSO): Framework for Integrated Internal Control. An internal control framework is made up of five interconnected parts: the control environment, risk assessment, control actions, information and communication, and monitoring. Internal control is a procedure carried out by a company's board of directors, management, and other staff members and intended to give a reasonable level of assurance that the information is trustworthy, accurate, and timely. of conformity with pertinent laws, rules, agreements, policies, and procedures.
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select the correct statement about executive compensation plans involving stock. the total amount of compensation expense for a restricted stock award plan is recognized when the stock is issued. the total amount of compensation expense for a restricted stock award plan is determined at the grant date. for stock-appreciation rights plans payable in cash, compensation expense is recognized only during the service period. for stock-appreciation rights plans payable in cash, compensation expense recognized in any given reporting period cannot be negative.
Option (b) that is the total amount of compensation expense for a restricted stock award plan is determined at the grant date is correct.
Executive compensation plans that include shares, the total amount of compensation for the specified share plan is determined on the grant date.
Executive compensation refers to the overall compensation package provided to executives for their performance and that of the organization. It may include pay, incentives, stock options, benefits and perks, bonuses, retirement plans, and other rewards.
The driving factors of the plan should be relevant to the company's mission and include the company's strategic plan, ability to attract and retain talent, ownership structure, culture, corporate governance, and cash flow.
For executive compensation plans that include shares, the total amount of compensation for a fixed share plan is determined on the grant date as the total amount of compensation is the product of the number of shares in the award and the market price of the shares on the grant date. This amount is recognized over the period of service required for the employee to receive or maintain the stock.
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Youare the owner of a baseball team. Your stadium has a maximum capacity(think of this as in thousands)of 60. The Marginal Costof having one additional fan attend the game is $0if attendance is less than 60 and then infinite for anything above 60. You cantake advantage of variable pricing togenerate extra revenue when teams that are more popular are in town. Suppose that whenthe Kansas City Royals are in town the demand for a ticket to the game is: P=100-Qand the Marginal Revenue is:P=100-2Q andwhen the New York Yankees are in town the demand for a ticket to the game is: P=300-Qand the Marginal Revenue is:P=300-2Q. Draw this graphically and calculate the price and quantity for Royals and Yankees tickets.
The term "marginal cost" describes the rise in manufacturing costs brought on by the creation of more product units.
What does the term "managing cost" mean?They fall into one of two categories: fixed or changeable. Whether a cost is variable or constant depends on whether its quantity changes as production volume changes. When a cost changes in response to changes in output or volume, it is said to be variable (decrease.)
How do you determine marginal cost?The additional costs spent by manufacturing more units of an item or service are known as marginal costs. By dividing the overall change in the cost of manufacturing additional items by the change in the quantity of goods produced, it is determined.
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current liabilities are debts that must be paid within . multiple choice question. three months six months one year
A short – financial commitments that are due in a year or within a typical operational cycle are known as current liabilities.
What types of debts are most typical?As of the 2nd period of 2022, American consumers owed more than 16 trillion dollars. Mortgages comprised the majority of such a debt, totaling about 10.4 trillion dollars. The second-largest element, amounting to 1.59 trillion dollars, was student loan debt.
What is the name for good debt?Debt that can be used to increase wealth or income throughout time, such education loans, mortgages, or company loans, is referred to as "good" debt. Credit card debt and other consumer debt are examples of "bad" debt because they have minimal impact on your financial situation.
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FILL IN THE BLANK. Marketers publicize inbound toll-free numbers to consumers in television and print ads, direct mail, and catalogs. The benefit to sellers is that it presents an opportunity for consumers to order products and for the seller to build the relationship. A benefit to consumers is ________.
The advantage to vendors is that it allows customers to purchase products while also allowing the vendor to build a relationship. Consumers will benefit from increased convenience.
What exactly is a marketer?
A marketer is someone who promotes the products and services of a company. They devise strategies to increase revenue and sales while ensuring that these strategies are in line with customer needs and market demand. Because there are so many various channels to use and types of content to produce, marketing experts are strategic to their time and resources.
What exactly is a marketer example?
Brochures, handbills, newspaper ads, and magazine ads are some examples. Marketing Direct: This entails delivering specific content to potential customers.
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Which of the following statements is (are) TRUE? I. The socially optimal quantity is 3. II. The deadweight loss associated with the perfectly competitive output level Is $4.50. III. The external marginal cost is $6. I II and III I, II, and III I and II
The socially optimal quantity of the following statement is 3. Deadweight loss associated with perfectly competitive output level is $4.50.
Rental costs are fixed operating or absorption costs of a business, as opposed to variable costs. Rent is often subject to his one- or two-year contract with extension options between the landlord and tenant.
The pension has three concepts: basic pension, economic pension, and quasi-pension. Landlords receive this price because the land is in short supply. Rent earned by the owner is considered income under existing Indian law. Landlords earning such income are therefore obliged to pay tax on their rental income in India.
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if demand for food at a restaurant would increase substantially based on a small reduction in price or drop precipitously based on a small increase in price the demand at this restaurant is
Based on a small increase in price, demand at this restaurant will decrease slightly.
What is demand?Demand in economics refers to the quantity of a good that consumers are willing and able to buy during a specific time period at various prices. Demand curve: This term describes the correlation between price and quantity demand. The demand curve in economics provides a graphic representation of the relationship between product price and the quantity that consumers are willing to buy. A curve that fluctuates as demand grows represents how much something costs. There is a distinct level of customer demand at each point on the curve, and the market price is high in accordance. The graph serves as an example of the rule of demand, which argues that when a product's price increases, less people will buy it and vice versa.
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you are answering phones for a local utilities provider and are speaking with an extremely angry customer. because your company manual advises employees to transfer hostile calls to a superior, you do this. this decision reflects which of the following dimensions of quality with respect to decision making? group of answer choices due process coherence fairness justice accuracy
In essence, the conduct code or a manual needs to specify how employees are expected to behave in the workplace.
Every organisation has a set of criteria that describe how their workplace culture is to be found.This is frequently a clear indication of the company's market practises and where they stand in relation to them.It also depends on what sector of the economy the company operates in.As a result, the handbook ensures that there is a straightforward way for every employee inside a firm to comprehend the standards of behaviour, and even for managers and executives, there exists this manner of understanding what it is about.
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when creating a budget for the following full year, one of the first considerations when budgeting costs should be
Establishing a macroeconomic framework for the budget year should be the first step in the budget planning process (and ideally at least the next two years).
What happens initially when creating a budget?To start, evaluate your financial capabilities. The first step is to determine how much money you have coming in each month. This can come from a variety of sources, including investment income, grants, loans, employment income, retirement pensions, and money from other sources.
While creating a budget which three things are the most important?Start by evaluating your financial situation. Choose a budgeting strategy that works for you after you are aware of where you are and what you want to achieve. We advise using the 50/30/20 strategy, which divides your income into three main categories: requirements, wants, and savings and debt reduction (20%).
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Cournot competition Aa Aa Consider a town in which only two residents, Zach and Kim, own wells that produce water safe for drinking. Zach and Kim can pump and sell as much water as they want at no cost. Assume that outside water cannot be transported into the town for sale. The following questions will walk you through how to compute the Cournot quantity competition outcome for these duopolists. Consider the market demand curve for water and the marginal cost for collecting water on the following graph Suppose Zach believes that Kim is going to collect 4 gallons of water to sell. On the graph, use the purple points (diamond symbols) to plot the demand curve (D1) Zach faces; then use the red points (cross symbols) to plot the marginal revenue curve (MR1) Zach faces. Finally, use the black point (X symbol) to indicate the profit-maximizing price and quantity (Profit Max 1) in this case. Dashed drop lines will automatically extend to both axes PRICE (Dollars per gallon] D1 Market Demand MR1 Profit Max 1 MC 16 20 24 QUANTITY (Gallons of water Help Clear All
The profit-maximizing pricing per gallon is $1.80 based on the quantity demanded and overall revenue to Brian and Crystal. 210 liters are produced overall, and Brian and Crystal each make $189.
What is displayed in the demand schedule table?
The price at which the most money was made, or the profit-maximizing price, is $1.80
210 gallons are the total production at this pricing
Bryan and Crystal will each receive half of the profit, which is
= 378 / 2
= $189
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subseterm an increase in government spending financed by increased borrowing will most likely change the real interest rate and the gross private domestic investment in which of the following ways?
A lot of issues affect economy, when government borrowing to finance economy, an increase in deficit will lead to high increase in interest.
What is an economy?An economy is a setting where products and services are produced, marketed, exchanged, and used. The processes of an economy are largely influenced by a person's culture, values, education, technological advancement, history, social organization, political system, legal system, and access to natural resources. In addition to providing background and content, these variables also set the rules and conditions under which an economy operates. In other words, the economic sphere is a social setting made up of mutually reliant, connected, and behavior-based human interactions. People, companies, organizations, and governments are all examples of economic players. An economic transaction takes place when two people or groups agree on the value or price of the good or service being exchanged, which is frequently stated in a particular currency.
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at subaru, teams of workers make their own job assignments, plan their own work, control their material and inventory needs, and select new team members. this is an example of job
If at subaru, teams of workers make their own job assignments, plan their own work, control their material and inventory needs, and select new team members. this is an example of Job enrichment.
What is job enrichment?Job enrichment can be defined as the way in which an employees of an organization are given the chance to carryout different responsibilities . This is done by enabling the employees to organize their own job responsibilities, to choose new team members among others.
Job enrichment can tend to help motivate employees at work place as they will always be eager to work and contibute to the growth of their company.
Therefore this is an example of job enrichment.
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HELLPPP
People want to buy products and services from companies they like and trust. Which principle of sales does this statement best describe?
Fixing Problems
Listening
Price and Value
Relationships
_____ uses a master computerized system to ensure that materials, labor, and equipment are available for production.
A)Perpetual inventory
B)The materials adjustment system
C)Materials requirement planning
D)Controlled assembly plan
E)Raw material coordination planning
To guarantee that supplies of materials, manpower, and machinery are accessible for use in manufacturing, materials requirement planning makes use of a central computerized system. The right response in this case is option C.
Based on demand and the bill of materials, the material requirements planning (MRP) system determines what raw materials, components, and subassemblies are required, as well as when to assemble the completed items (BOM).
MRP, which is generally carried out using specialized software, aids in ensuring that the proper inventory is accessible for the manufacturing process precisely when it is required and at the lowest cost. MRP boosts the productivity, adaptability, and profitability of manufacturing processes in this way.
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marketers must promote rather than , especially for less knowledgeable consumers and for complex products.
Benefits must be emphasized over features by marketers, particularly when selling complex items and to consumers with limited product understanding.
An individual or group that does not directly engage in entrepreneurial or business operations but who intends to order or uses purchased items, products, or services primarily for personal, social, family, or household needs is referred to as a consumer. Most frequently, the phrase is used to describe someone who makes purchases for their own use.
President John F. Kennedy offered his definition of consumers to the US Congress on March 15, 1962, saying, "Consumers, by definition, encompass us all." World Consumer Rights Day, which is now observed on March 15, was inspired by this lecture, which served as its foundation. In his speech, John Fitzgerald Kennedy underlined how crucial it is for any government to support the exercise of consumers' rights.
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if you contact a relative of the consumer who has prior knowledge of the consumer's debt information, the relative may grant you permission to discuss the details of such debt information.
The following statement "if you contact a relative of the consumer who has prior knowledge of the consumer's debt information, the relative may grant you permission to discuss the details of such debt information" is False.
A person who owes money or some other agreed-upon value to a third party, a creditor, is said to be in debt. Debt requires late payments or a certain number of installments, unlike buying now. A sovereign state or country, local government, business or individual can all be in debt.
Contractual agreements often specify the frequency and amount of principal and interest payments on commercial debt. There are many types of debt, such as loans, bonds, notes, and mortgages. In financial accounting, debt is a different type of financial transaction than equity. In a metaphorical sense, the phrase can also be used to describe moral obligations and other obligations not related to money.
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in order to produce a commercially viable conventional oil deposit (one involving vertical drill holes and no directional drilling), there must be a source rock, a reservoir rock, a seal rock, and .'
There must be a source rock, a reservoir rock, a seal rock, and trap that denies the oil passage to the surface.
Oil and gas producers use horizontal drilling and piercing to reduce the negative effects on the surface and to bore multiple wells from a single cushion. One of the most well-known techniques in the petroleum sector, horizontal drilling may raise questions about mineral rights because drillers can access nearby mineral reserves. It was created in 1930, and along with water-driven cracking, it has revolutionized the way that energy is produced all around the world. This combination has considerably enhanced oil production, which is known as the "Shale Revolution."
A near bit stabilizer and an up hole stabilizer, which have a tendency to limit air expansion and call for fine (tiny) cuttings, are employed in gas horizontal drilling.
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someone responsible only for training associated persons at a financial industry regulatory authority (finra) member firm
Someone responsible only for training associated persons at a FINRA member firm must be registered as a principal of the firm.
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that functions as an exchange market and member brokerage firm self-regulatory organization (SRO).
The National Association of Securities Dealers, Inc. (NASD) and the New York Stock Exchange's member regulatory, enforcement, and arbitration functions were replaced by FINRA.
The U.S. Securities and Exchange Commission is the U.S. government agency that serves as the ultimate regulator of the U.S. securities sector, including FINRA (SEC).
Equities, corporate bonds, securities futures, and options trading are all governed by FINRA. All companies that deal in securities and are not subject to the regulation of another SRO, such as the Municipal Securities Rulemaking Board (MSRB), must be FINRA members.
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Consider the case of a positive externality with a non-zero marginal external benefit. In this case, which of the following statements are true? a.The amount of the externality produced by the competitive equilibrium quantity will equal the Pareto optimal amount. b.The amount of the externality produced by the competitive equilibrium quantity will exceed the Pareto optimal amount. c.The amount of the externality produced by the competitive equilibrium quantity will be below the Pareto optimal amount d.The competitive equilibrium allocation will be determined when private marginal costs equal social marginal benefits
When marginal private costs and social marginal benefits are equal, the allocation in a competitive equilibrium is established.
What exactly is a favorable externality?An externality is a good thing when it is exchanged with a third party. The government can reduce harmful externalities by taxing goods and services that have spillover costs. The government can foster positive externalities by offering subsidies for services and products which have positive spillover effects.
Who benefits from positive externality?When a third party benefits from production, this is known as a positive production externality. There is only a motivation to supply to individuals who can be charged because such third parties who profit cannot be charged.
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internal rate of return richins company produces automobile engine parts. the company is examining the possibility of investing in a new production system that will reduce the costs of the current system. the new system will require a cash investment of $11,551,968 and will produce net cash savings of $1,800,000 per year. the system has a projected life of 10 years. required: calculate the irr for the new production system. for discount factors use exhibit 12b-2. round your answer to the nearest whole percentage.
The new production system's IRR will be 9%. The internal rate of return (IRR) is the discount rate used to determine whether the after-tax retained earnings from an investment are equal to the initial investment.
Using a financial calculator, one can determine IRR:$11,551,968 was the cash flow in year 0
From the first year to the tenth, cash flow is equal to $1,800,000.
IRR = 9%
First, enter the cash flow values by clicking the CF button on a financial calculator to find the IRR. Press enter with the arrow pointing downward after entering the value.After entering all of the cash flows, click the IRR button, followed by the compute button.Therefore, the IRR for the new production system will be 9%.
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For each of the events describe below, you are required to explain:
1. The market you are evaluating (e.g., labour market, automotive market, etc).
2. Does the event act on the demand side, supply side, or both sides of the market?
3. Does the event lead to a quantity or price change? Or does the event lead to a shift in
demand, supply, or both?
Make sure to explain what sort of assumptions you are making on the elasticities of demand
and supply (when plotting your demand and supply, describe whether you are assuming an
elastic or inelastic demand/supply).
a) A concerted reduction in the total production level in oil markets.
b) The implementation of a minimum wage.
c) The implementation of subsidies to agricultural production in Australia
d) The implementation of a Carbon tax in the resources exploitation sector. A Carbon tax
is charged according to the level of emissions of greenhouse gases in an economy.
e) The implementation of a new loan program to university students in the education
sector
The oil market is the one being assessed, and this occurrence has an impact on the market's supply side. As a result of this event, there is a change in quantity because less is produced overall.
What is the market?A market is made up of various infrastructures, institutions, systems, and processes that allow people to exchange goods and services. The majority of markets rely on sellers providing their goods or services to purchasers in exchange for money.
a) The oil market is the market that is being evaluated. This event impacts the supply side of the market and results in a quantity change. Assuming an elastic demand for oil and an inelastic supply, the drop in supply will result in an increase in price.
b) The market being evaluated is the labour market. This event acts on the supply side of the market and causes a price change. The minimum wage is implemented under the assumption that there will be an elastic demand for labour and an inelastic supply, so an increase in labour costs will result in a decrease in the amount of labour demanded.
c) The market being evaluated is the agricultural market in Australia, this event act upon the supply side of the market, and By assuming an elastic demand for agricultural products and an elastic supply, the event that results in a quantity shift, as subsidies are adopted to increase output, will lead to a fall in price.
d) The sector of resource exploitation is being assessed as a market. This occurrence affects the market's supply side. As a result of this occurrence, prices shift since the carbon tax is applied and increases the cost of producing resources.
Given an elastic supply and elastic demand for resources, a rise in production costs will result in a fall in the amount of resources supplied.
e) The market being evaluated is the education sector.
This event causes a change in price since the carbon tax is applied and adds a cost to the production of resources. Assuming elastic demand for resources and elastic supply, the increase in production costs will result in a reduction in the amount of resources supplied. This event acts on the demand side of the market.
Therefore, The oil market is the one being evaluated, and this event has an effect on the supply side of the market.
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Assume an economy is in long-run equilibrium and the central bank engages in an expansionary monetary policy for a prolonged time period. If the velocity of money is constant, which of the following is true according to the quantity theory of money? Price level will increase at the same rate as the money supply.
Assume an economy is in long-run equilibrium and the central bank engages in an expansionary monetary policy for a prolonged time period. The following is true according to the quantity theory of money : Price level will increase at the same rate as the money supply.
An economy is a machine of inter-associated manufacturing and intake activities that ultimately decide the allocation of assets within a set. The production and consumption of goods and services as a whole fulfill the wishes of those residing and operating inside it.
An economy consists of purchasers who buy products and services, businesses who appoint customers and make items, and the authorities at various level who both buy products, appoint labour and levy taxes. Their collective interactions create a simplified financial system.
Economics play a position in all of the following predominant life reports: How the government plans rules. The state of the housing marketplace and real property investment opportunities. The capability to make smart financial choices.
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Samantha is the headmistress of Harwell High School. She expects high standards of discipline from her staff. She often makes them work over the weekends and on their days off. To foster academic excellence, she discontinues all creative methods of teaching and replaces them with traditional methods. In the context of the Blake/Mouton leadership grid, which of the following leadership styles is Samantha using in this scenario?
a.
The middle-of-the-road style
b.
The country club style
c.
The authority-compliance style
d.
The impoverished style
The authority-compliance style is the leadership styles Samantha is using in this scenario. Hence option (c) is the answer.
What is the authority compliance style?A leadership style known as authority-compliance management places a greater emphasis on productivity than on members' emotions. To achieve the intended outcomes, the staff must be submissive and carefully abide by the regulations established by the boss.
People who fall into this kind of manager are also referred to as "authoritarian" or "authority-compliance" supervisors who consider their team members to be merely a means to an end. The needs of the team come second to its output at all times. Authorities are defined by their dominance, informality, reason, and accountability. The Authority-Compliance Manager is more concerned with results than with people.
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If reserves in the banking system increase by 1 billion because the Fed lends 1 billion to financial institutions, and checkable deposits increase by 99 billion, why isn’t the banking system in equilibrium? What will continue to happen in the banking system until equilibrium is reached? Show the T-account for the banking system in equilibrium.
As long as there are extra million in reserves, the banking system is still out of balance. unless equilibrium is reached with an additional billion in verifiable deposits, additional reserves will be stopped in the T-account.
The upward line running down the middle and the even line under "Resources" and "Liabilities" form a T, which is sometimes referred to as a T-shape. The "T" in a T-account separates a firm's assets from its liabilities on the right and left, respectively. T accounts are used by accountants to provide easier-to-manage double entry system bookkeeping.
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The FTC has recently put forth a new Privacy Protection Framework that includes _____.
Group of answer choices
incorporating consumer privacy throughout the organization
simplifying consumer choice
increasing transparency of data practices
A and C
all of the above
The FTC has recently put forth a new Privacy Protection Framework that includes all of the above.
The NIST Privacy Framework is a voluntary tool designed to assist enterprises in identifying and managing privacy risk so they may develop cutting-edge goods and services while safeguarding the privacy of individuals. It was created in partnership with stakeholders.
What fundamental ideas surround data privacy?
The capacity to choose when, how, and how much personal information about oneself is shared with or conveyed to others is known as data privacy. One's name, address, phone number, or online or offline conduct are examples of personal information.
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The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer sells and installs home and business security systems.
Jan. 3 Loaned $18,000 cash to Trina Gelhaus, receiving a 90-day, 8% note.
Feb. 10 Sold merchandise on account to Bradford & Co., $24,000. The cost of the goods sold was $14,400.
13 Sold merchandise on account to Dry Creek Co., $60,000. The cost of goods sold was $54,000.
Mar. 12 Accepted a 60-day, 7% note for $24,000 from Bradford & Co. on account.
14 Accepted a 60-day, 9% note for $60,000 from Dry Creek Co. on account.
Apr. 3 Received the interest due from Trina Gelhaus and a new 120-day, 9% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account.)
May 11 Received from Bradford & Co. the amount due on the note of March 12.
13 Dry Creek Co. dishonored its note dated March 14.
July 12 Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at 12% computed on the maturity value of the note.
Aug. 1 Received from Trina Gelhaus the amount due on her note of April 3.
Oct. 5 Sold merchandise on account, terms 2/10, n/30, to Halloran Co., $13,500. Record the sale net of the 2% discount. The cost of goods sold was $8,100.
15 Received from Halloran Co. the amount of the invoice of October 5, less 2% discount.
Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year. Assume this is a year in which February has 28 days.
The journal entries for the given information are
Jan. 3
Cash 18,000
Notes Receivable 18,000
Feb. 10
Accounts Receivable 24,000
Inventory 14,400
Cost of Goods Sold 14,400
Mar. 12
Notes Receivable 24,000
Accounts Receivable 24,000
Apr. 3
Interest Revenue 720
Notes Receivable 18,000
Cash 18,720
May 11
Cash 24,000
Notes Receivable 24,000
Apr. 3
Notes Receivable 60,000
Interest Receivable 720
May 11
Notes Receivable 8,000
Cash 7,920
July 12
Notes Receivable 60,000
Interest Receivable 720
Interest Expense 720
Aug. 1
Notes Receivable 9,000
Cash 8,910
Oct. 5
Accounts Receivable 13,500
Cost of Goods Sold 8,100
Sales Revenue 13,500
Oct. 15
Cash 13,230
Accounts Receivable 13,500
Discounts Allowed 270
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barnes company applies overhead on the basis of machine hours. given the following data, compute overhead applied and the under- or overapplication of overhead for the period: estimated annual overhead cost $1,500,000 actual annual overhead cost $1,470,000 estimated machine hours 300,000 actual machine hours 290,000 group of answer choices $1,450,000 applied and $20,000 overapplied $1,500,000 applied and $20,000 overapplied $1,450,000 applied and $20,000 underapplied $1,470,000 applied and neither under- nor overapplied
Overhead on the basis of machine hours is $1,450,000 applied and $20,000 underapplied.
Applied overhead is a sort of direct overhead expense that's recorded underneath the cost-accounting technique. Applied overhead could be a mounted rate charged to a particular production job, smart made, or department among a corporation. firms use accountancy to spot the expenses related to producing.
Overapplication of overhead happens once expenses incurred are literally but what a corporation accounts for in its budget. this suggests that a corporation comes in underneath budget and achieves a lower quantity of overhead prices throughout the accounting amount. Businesses should account for overapplied overheads also.
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Which of the following best explains the relationship between the price level and real output along the aggregate demand curve? A. A higher price level increases the value of real assets. B. A higher price level increases the relative price of imports. C) A lower price tevel reduces the real interest rate and increases investment Đ. A higher price tevel increases consumers' wealth and consumption E) A lower price level reduces consumers' confidence and consumption.
A lower price level reduces consumers' confidence and consumption best explains the relationship between the price level and real output along the aggregate demand curve.
The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the quantity required over a specific time period. The price will often be shown on the left vertical axis in a representation, and the amount needed will typically be shown on the horizontal axis. The law of demand states that when the price of a given good rises, demand declines, all other things being equal. This is expressed by the demand curve moving from the left to the right in a downward direction. Notably, this approach suggests that quantity is the dependent variable and price the independent variable. Economics is an exception to the general rule that the independent variable is displayed on the x-axis or horizontal line.
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which of the following line items from a 12-month inventory purchases budget are presented on the pro forma financial statements? assume that all purchases are paid in the month of purchase. (select all that apply.) multiple select question. desired ending inventory (i.e. ending inventory) for the last month purchases for the last month shown as accounts payable on the balance sheet total ending inventory for the twelve months total cost of goods sold (i.e. cost of budgeted sales) for the twelve months
The following items from a 12- month inventory purchases budget are presented on the pro forma financial statements are desired ending inventory (i.e. ending inventory) for the last month, and total cost of goods sold (i.e. cost of budgeted sales) for the twelve months.
The financial position and actions of a corporation are documented in its financial statements throughout a given time period. A company's financial health and success are shown via its financial statements. The income statement, balance sheet, and cash flow statement are considered to be the three fundamental financial statements.
Financial statements including the cash flow statement, balance sheet, and income statement must be prepared. With the use of these three statements, traders may learn more about a company's financial health and underlying worth. They also serve as useful tools for analyzing a company's financial strength.
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