The Journal Entries for the Transactions are as follows:
Journal Entries:May 2 No Journal (Fishing tour expenses = $680 ($170 x 5 x (1 - 20%)
May 7 Debit Fishing Tour Expenses $680
Credit Accounts Payable (Outdoor Expo) $680
May 9 No Journal
May 15 Debit Accounts Payable (Outdoor Expo) $272
Credit Fishing Tour Expenses $272
May 20 Debit Accounts Payable (Outdoor Expo) $408
Credit Cash $383.52
Credit Cash Discounts $24.48
What are the journal entries?The journal entries are records of business transactions in the accounting books of the recording entity.
The journal entries show the accounts that receive values (debited) and the accounts that supply values (credited), including assets, liabilities, expenses, revenues, and income and losses.
Transaction Analysis:May 2 No Journal Entry Required
May 7 Fishing Tour Expenses $680
Accounts Payable (Outdoor Expo) $680
May 9 No Journal Entry Required
May 15 Accounts Payable (Outdoor Expo) $272 ($680 x 40%)
Fishing Tour Expenses $272
May 20 Accounts Payable (Outdoor Expo) $408 ($680 - $272)
Cash $383.52
Cash Discounts $24.48 ($408 x 6%)
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Question Completion:Outdoor Expo provides guided fishing tours. The company charges $170 per person but offers a 20% discount to parties of four or more. Consider the following transactions during the month of May.
May 2 Charlene books a fishing tour with Outdoor Expo for herself and four friends at the group discount price ($680 = $136 × 5). The tour is scheduled for May 7.
May 7 The fishing tour occurs. Outdoor Expo asks that payment be made within 30 days of the tour and offers a 6% discount for payment within 15 days.
May 9 Charlene is upset that no one caught a single fish and asks management for a discount. Outdoor Expo has a strict policy of no discounts related to number of fish caught.
May 15 Upon deeper investigation, management of Outdoor Expo discovers that Charlene’s tour was led by a new guide who did not take the group to some of the better fishing spots. In concession, management offers a sales allowance of 40% of the amount due.
May 20 Charlene pays for the tour after deducting the sales allowance.
Required:
Record the necessary transaction(s) for Outdoor Expo on each date. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your answers to 2 decimal places.)
A manufacturing company prepays its insurance coverage for a three-year period. The premium for the three years is $3,300 and is paid at the beginning of the first year. Seventy percent of the premium applies to manufacturing operations and thirty percent applies to selling and administrative activities. What amounts should be considered product and period costs respectively for the first year of coverage? Period cost Product cost $0 $800 A $800 B $240 $560 C $330 $770 D a. Choice B O b. Choice C O c Choice D Od. Choice A
The amounts which should be considered product costs and period costs, respectively, for the first year of coverage are $770 and $330.
The total amount which must be expensed in the first year is the insurance cost which was thus incurred in that year, and that is one-third of the premium paid:
Total insurance coverage prepaid = $3,300
Number of years covered = 3
Insurance cost for the first year = $3,300 ÷ 3
= $1,100
So here, it can be said that the portion which relates to the factory is a product cost, while the portion which relates to the administrative and selling activities is a period cost.
Total insurance expense incurred = $1,100
70% relating to the manufacturing operations = Product cost
= 0.70 × $1,100 = $770
30% relating to selling and administrative activities = Period cost
= 0.30 × $1,100 = $330
Thus, the product cost = $770 and the period cost = $330
Hence, option C is correct.
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johann is an german-american. because he's bilingual, he's been assigned to work in germany. which influence tactics would he most likely encounter while working there?
He would most likely encounter the required influence tactics of exchanging benefits and coalition while working there.
What exactly is a coalition influence tactic?
Creating a support network to extend the leadership's power base, building consensus, specifying a group position, or creating a "us-versus-them" situation are all examples of coalition tactics. Leaders who use the names of their supporters when making a request are also employing this strategy.
What exactly is the Exchange influence tactic?
Exchange. Exchange influence strategies encompass all of the methods we use to persuade people to do things by having to engage in some form of trade. Exchange strategies include putting an incentive on a specific goal and offering a bonus for a specific assignment.
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Why is it important to include a person’s title when developing a reference sheet?
It is very important to include a person’s job title when developing a reference sheet because it shows the person’s position and level of experience in his field.
What is a Reference sheets?In context of recruitment, a reference sheets refers to the documents that specify the people who can vouch for our character. It is mostly important to include one's title when developing a reference sheet because it tells the hiring manager that we have relationships with people who are outstanding in a field.
These sheets are meant to help you get connections that will boost your probability of getting hired. So, the better the job titles of the people that are listed on the reference list, the more confidence you willhave in the hiring process. In most time, the Human Resource will wants to talk to the people who have the credibility to attest to your past performances and credentials.
So, this makes it very important to list those people whom you have worked with in a similar context. For instance, like listing one supervisor on your reference sheet rather than listing someone who is not related to you at work.
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I need help!!! offering brain list
it is (Sole proprietorship)
What should be considered a fixed payment in your budget?
Answer: student loans
Explanation: Typical fixed expenses include car payments, mortgage or rent payments, insurance premiums and real estate taxes. Typically, these expenses can't be easily changed. On the plus side, they're easy to budget for because they generally stay the same and are paid on a regular basis.
Loxley Corporation is authorized to issue 50,000 shares of $10 par value ordinary shares. During 2022, Loxley took part in the following selected transactions
Issued 5,000 shares at $45 per share, less costs related to the issuance of the shares totaling $7,000
(a).Dr Cash 218,000
Cr Common Stock 25,000
Cr Paid-in capital - Common stock 193,000
( to record the issuance of 5,000 share at $45 with cost of $7,000)
(b)
Dr Land appraised expenses 46,000
Cr Common stock 5,000
Cr Paid-in capital - Common stock 41,000
( to record the issuance of shares in exchange for land appraisal services at market value of shares issuance)
Explanation:
(a)
Cash receipt is 5,000 x 45 - 7,000 = $218,000; Common stock increase by Par value x stock issuance = 5 x 5,000 = $25,000; Paid-in capital increase by (45-5) x 5,000 - 7,000 = $193,000.
(b)
Common stock increase by par value x stock issuance = 1,000 x 5 = $5,000; Appraisal Expenses is increased at the market value of the shares issuance = 1,000 x 46 = $46,000; Paid-in capital account increase by the amount calculated as ( Share price - Par value) x share issuance = (46-5) x 1,000 = $41,000.
When writing a résumé, why is it important to include as many relevant keywords as possible?
It is crucial to use as many pertinent keywords as you can in your resume because their purpose is to catch the attention of hiring managers by closely matching the job description.
Having keywords helps your resume stand out against all other candidates because most recruiters and hiring teams scan resumes for relevant experience.
Resumes are used to make a good impression on potential employers. The first thing an employer sees about a candidate's potential is their resume.
Many employers believe that the "skills" section of a resume is the most crucial. Even if a candidate lacks experience, they should still possess the necessary skills and exhibit growth potential. A candidate should have a variety of skills to show that they have a range of interests.
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I need help!!! offering brain list
Answer:
Legal capacity
Explanation:
That means it checks the authority of the person signing the contract. That's what Sally and Kimberly need.
What type of data would be BEST communicated with a bar chart?
A. the percentage of all votes a candidate received
B. voting trends in a district over several years
C. comparing votes that two candidates received
D. why voters chose a certain candidate
A type of data which would be best communicated with a bar chart is: A. the percentage of all votes a candidate received.
What is a graph?A graph can be defined as a type of chart that's commonly used to graphically represent data on both the horizontal and vertical lines of a cartesian coordinate, which are the x-axis and y-axis.
The types of graph.In Science, there are different types of graph and these include the following:
Pie chartDot graphScatter plotLine graphHistogramBar graphWhat is a bar chart?A bar chart is also referred to as bar graph and it can be defined as a type of chart that is used for the graphical representation of a data set, especially by using rectangular bars or vertical columns.
In this context, we can reasonably infer and logically deduce that a bar chart is a type of chart that can be used to graphically represent the percentage of all the votes which a candidate received in an election.
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What type of data would be BEST communicated with a bar chart?
the percentage of all votes a candidate received
voting trends in a district over several years
comparing votes that two candidates received
why voters chose a certain candidate
The percentage of all votes a candidate received is type of data would be BEST communicated with a bar chart.
What is a graph?A graph is a particular sort of chart that is frequently used to graphically display data on the x-axis and y-axis, the horizontal and vertical axes of a cartesian coordinate system.
What is a bar graph?A bar chart, often known as a bar graph, is a sort of chart that is used to graphical display a data set, particularly by employing rectangular bars or vertical columns.
In this context, we may logically and properly infer that a bar chart is a sort of chart that can be used to graphically display the proportion of all the votes that a candidate received in an election.
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in the former soviet union, producers were paid for meeting output targets, not for selling products. under those circumstances, what were the economic incentives for producers?
Economic rewards for producers, without regard for cost or quality, to generate just enough to fulfill the output target.
Economics is the study of scarcity and its effects on resource use, the creation of commodities and services, the expansion of production and welfare over time, as well as a economics wide range of other complicated concerns of paramount importance to society. Farmers lower the crop's price as output of the corn crop rises so they can sell more of their harvest. The economics helps people understand the world around them. Minneapolis, Minnesota serves as the corporate headquarters for the American big-box retailer company known as Target. Target ranks as the seventh-largest retailer in the country and is included in the S&P 500 Index. In 1962, Dayton's department store in Minneapolis created Target as its bargain arm.
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Penicillin, airplanes, and air-conditioning were all
Answer:
Penicillin, airplanes, and air-conditioning were all built in the nineteenth century.
Explanation:
None.
The steps in the training process include all of the following except
A systems approach to training is divided into four stages: needs analysis, program design, program implementation, and evaluation.
What comes first in any workout regimen?
Identification and evaluation of needs are the initial steps in establishing a training program. It's possible that the organization's strategic, human resources, or personal development goals have already identified the training needs of its employees.
Assessment, motivation, design, delivery, and evaluation are the five connected steps or activities that make up the process of training.
What is a model of the training process?
A component of instructional design is training models. It involves the process of developing instructional materials for various training requirements. Many businesses invest in training programs for workers to help them advance on the job.
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Cost of Equity =5%
Cost of debt =7%
% Debt =60%
% Equity =40%
Given the data in the above table, what is the weighted average cost of capital of this company?
Given the data in the above table,0.062 or 6.2% is the weighted average cost of capital of this company.
Cost of Capital:
The cost of capital is the cost of a company's money in economics and accounting, or "the needed rate of return on a portfolio company's existing securities" from the perspective of an investor. It is used to assess a company's new ventures.
Using the information provided Equity Cost - 40% Debt Cost - 60%
Equity cost with a 40% percentage and a 5% cost:
=0.4 x 0.05 = 0.020
Debt cost with a 60% percentage and a 7% cost
=10.6 x 0.07 = 0.042
WACC = 0.020 + 0.042
= 0.062 or 6.2%
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Which of the following would most
likely fall under the category of
government expenditures for the GDP?
A. exported goods to China,
B. buying fast food
C. investments in stocks
D. building a new highway
Answer:
C
Explanation:
Investments in stocks of the following would most likely fall under the category of government expenditures for the GDP. The correct option is C.
What counts as government investment in GDP?All expenditures by federal, state, and local agencies are considered government purchases, with the exception of debt payments and transfer payments like Social Security. In general, government purchases play a significant role in a country's gross domestic product (GDP).
Investment in GDP calculations does not include the acquisition of stocks and bonds or the trading of financial instruments. It refers to the acquisition of brand-new capital goods, such as inventories, new commercial real estate (such as offices, warehouses, and stores), and new residential housing developments.
Thus, the ideal selection is option C.
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I REALLY NEED TO GET THIS DONE BY 1:00PM
The three factors that would help to establish that a person is a good citizen would be:
The fact that they follow the set laws and regulations in the nation.They are patriotic citizens They pay their taxes.Who is a good citizen?A good citizen can be regarded as a person that is effectively performing the role that he or she has as a member of a society. That is as one that belongs to a particular nation.
Such a person is one that would fulfill all of the obligations that they have in the society. They would do this by voting during elections, participating in the jury process and also by paying their taxes.
A good citizen would also be patriotic to the nation and also try as much as possible to carry all of the ideals of their nation by heart at all times.
This citizen would obey all of the laws of the nation and would also be the type of citizens that would help other members of the society.
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Zantano Corporation sells $1,000 worth of goods on June 25 on credit. The customer sends the company a check on August 15. The customer receives the goods on September first. Assuming the company uses accrual accounting, the sale will be recorded in _____.
Based on the assumption that Zantano Corporation uses accrual accounting, the sale would be recorded in June 25.
What is the Accrual basis in accounting?The Accrual basis of accounting is a system that calls for expenses being recorded when they were incurred and not when they were paid for. It also calls for revenue to be recorded when the company delivers the goods that it sold and not when the sales were paid for.
Zantano Corporation sold $1,000 worth of goods on June 25 which meant that it delivered these goods to the customer on the same date. The customer did not however pay for the goods and instead bought it on credit. By the Accrual basis however, the sale was delivered by Zantano Corporation on June 25th and so when recording the sale, it would be recorded as having happened on June 25.
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How many thousands of units of corn can Congo produce in one week? 5 10 20 60
Answer:
Based on the units of corn and diamonds produced by the United States, the opportunity cost of producing corn is B. 10⁄60.
What is the opportunity cost of producing corn?
The opportunity cost of producing corn to the United States would be the number of diamonds that are given up to make one unit of corn.
This can be found as:
= Units of diamonds / Units of corn
= 10 / 60 diamonds
The answer would be 20
(source is from flvs: economics with financial literacy)
1. You deposit $1 in a 7 percent account. You want to know how much money you
will have at the end of year 7.
The money that will be in account would be $8.680
Here, the deposits which are thus made in the account represent an annuity pattern as the deposits made are of a constant amount. They are are made after equal interval of time and are for a defined time period.
Thus, in order to calculate the value of money that we will have after the end of 7 years, we will use the formula for the future value of annuity.
The formula for the future value of annuity is used below.
FV = $1 * [ (1+0.071)^7 - 1 / 0.071 ]
FV = $8.680
Hence, the money that will be in account would be $8.680
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Jamie Lee Jackson, age 26, is in her last semester of college and is waiting for graduation day, just around the corner! It is the time of year again when Jamie Lee must file her annual income taxes. Last year, she received an increase in salary from the bakery, which brought her gross monthly earnings to $2,550 and also opened up a TFSA, to which she contributed $300. Her savings accounts earn 2 percent interest per year, and she also had received an unexpected $1,500 gift from her great aunt. Jamie was also lucky enough last year to win a scholarship of $2,000, most of which was deposited into her regular savings account after paying off her credit card balance.
Current Financial Situation
Assets:
Chequing account: $2,250
Savings account: $6,900 (interest earned last year: $125)
Emergency fund savings account: $3,900 (interest earned last year: $75)
TFSA balance: $350 ($300 contribution made last year)
Car: $3,000
Liabilities:
Student loan: $10,800
Credit card balance: $0
Income:
Gross monthly salary: $2,550
Monthly Expenses:
Rent obligation: $275
Utilities obligation: $135
Food: $130
Gas/maintenance: $110
Credit card payment: $0
Savings:
Regular savings monthly deposit: $175
Rainy-day savings monthly deposit: $25
Entertainment:
Cake decorating class: $40
Movies with friends: $60
Questions
Question:
In Jamie Lee’s situation, what is her marginal tax rate? How would a marginal tax rate compare to an average tax rate?
Gross income = $2,550 salary x 12 = $30,600
raffle prize is $2,000
earned interests are $125 + $75 = $200
IRA deductions are ($300)
Adjusted gross income is equals to $32,500
- standard deduction = ($12,200)
taxable income = $20,300
Taxable income:
The amount of income that must be taxed following a deduction is known as the "taxable income." An individual's income is taxed at the usual state income tax rate. This tax must be paid yearly.
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I need help!!! offering brain list (25 points)
Answer:
legal purpose.
Explanation:
I might be wrong so here are the definitions for all the terms:
legal capacity: a person's authority under law to engage in a particular undertaking or maintain a particular status.
exchange of value: an exchange value, which is the proportion at which a commodity can be exchanged for other commodities; a price (it could be an actual selling price or an imputed ideal price )
Legal purpose: Legal purpose is an insurance principle according to which insurance contracts that insure something illegal or involves illegal conditions are not valid. For example, a liability insurance policy for a bank robbery company would not be valid.
offer and acceptance: the meaning of offer and acceptance is the basis of a contract. To form a contract, there must be an offer made by one party which is, in turn, accepted by another party, and then, in most cases goods and/or services must be exchanged between the two
what are the solution of demand curve
Answer:
The demand curve shows the relationship between the price and quantity demanded of a commodity
Explanation: The relationship is presented using a demand function.
for eg: Q = a - bP
is a linear demand function
A curve is plotted for the function, the demand curve. One can solve for the equilibrium price using demand curve and supply curve. The intersecting point of these curves represents the equilibrium price.
Net farm income less family living expenses and income taxes equals
Individual income is the net farm income less family living expenses and income taxes. It is the total income from the outcome produced on the farm by the means of employment or self land work.
Income of family and the expenditure of the budget decided after paying the taxes is the left income is allocated to extraordinary expenses of the remaining things to be spared. Lower class families are abolished from these.
The taxes are imposed on those which comes under the criteria like for income taxes are made several slabs so that those not under criteria are not liable to pay them.
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consider the production possibilities frontier for an economy that produces only sofas and cars. the opportunity cost of each car is?
The number of cars that would have been given up is equal to the opportunity cost of boosting sofa manufacturing by one unit.
The potential advantages that a person, investor, or business forgoes by choosing one choice over another are known as opportunity costs. Since opportunity costs are by definition invisible, it is easy to overlook them. When a company or person is aware of the opportunities that could be lost by choosing one investment over another, better decisions may be made.
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Owner Andy pforzheimer holds a meeting with his employees in which they discuss food costs. During this meeting, Andy is performing the_______ function of his job.
Chooses are:
Organizing
Leading and Motivating
Planning
Controlling
Owner Andy pforzheimer holds a meeting with his employees in which they discuss food costs. During this meeting, Andy is performing the Controlling function of his job.
What is controlling?Controlling is one of the managerial function and can be defined as the ability of a person to coordinate others or supervise the day to day running of a business so as to ensure smooth running.
Andy is performing controlling managerial function by organizing a meeting with is employee so as to achieve a desire outcome.
Therefore if owner Andy pforzheimer holds a meeting with his employees in which they discuss food costs. During this meeting, Andy is performing the Controlling function of his job.
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Electronic résumés should be saved as a ____ document.
a.
.text
b.
Plain Text
c.
Text Only
d.
Any of the above
Electronic résumés should be saved as any of the above document. Therefore, the correct answer option is: D. Any of the above.
What is a résumé?A résumé is also referred to as curriculum vitae and it can be defined as a short document that is written to briefly outline the qualifications, abilities, experience, and accomplishments of an individual such as a job applicant, haven completed and obtained an academic certificate.
Generally speaking, an electronic résumé simply refers to a short document that is saved and can be shared electronically with any potential employer of labor.
In conclusion, an electronic résumé can be saved as a text, text only or plain text document.
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strategic repetition can help do what for a communication?
Strategic Repetition can help to identify the most important ideas for Communication.
Repetition is a crucial component of good communication since it increases the likelihood that the message will be understood. It will greatly enhance workplace communications in your firm if you make it one of your go-to internal communication strategies. Employees may recall important internal company communication better if it is repeated frequently and across a variety of media.
For instance, it typically takes three to twenty exposures to an advertising for a buyer to contemplate or make a purchase of a product. The lesson won't stick with you until three to twenty exposures have passed. Internal communication can also be analyzed using the Forgetting Curve. After being repeated a few times, your messages are more likely to be seen, heard, and understood by your staff.
The correct question is, "Strategic repetition can help do what for a communication?
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Choose the three types of social media that you use the most. Approximately how many hours per day do you spend on them? What is the role they play in your life? What do you find are the advantages and disadvantages of using them? Overall, do you see them as a net plus or a net minus in your life?
Three of the social media that we use are You, What's app and Ins, these have some advantages such as entertainment and communication, but they have disadvantages such as wasting time.
What are social media?
Social media are a term that refers to some digital platforms made up of communities of individuals with common interests, activities or relationships (such as friendship, kinship, work). Social media allow contact between people and function as a means to communicate and exchange information.
What advantages do social media have?Social networks have some advantages such as:
They allow communication in real time over long distances.They are means to learn new things.They allow you to be in contact with distant family and friends.They allow easy sharing of multimedia files.They allow you to be updated with news and trends.What are the disadvantages of social networks?You waste a lot of time on social mediaNegatively influences people's emotionsPromotes the consumer societyPromotes stereotypesLearn more about social media in: https://brainly.com/question/9564823
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If price elasticity of demand is -1.9 and price increases by 2 percent, quantity demanded will
Answer:
quantity demanded will decrease by 3.8%
Explanation:
Price elasticity relates price changes to quantity changes
A price elasticity of - 1.9% means that as price increases by 1%, the quantity demanded will decrease by 1.9%
So if price increases by 2%, quantity demanded will decrease by 1.9 x 2 = 3.8%
Answer:
Hi, the answer to the question is a 3.8% decrease in the quantity demanded
Explanation:
The attached image would better explain the solution to you
Choose a business industry you are familiar with and visit your town’s municipal site regarding business licenses. What type of license would be required for that business? How about permits or inspections? Describe the business you chose and include the information you discovered about relevant required licenses, permits, or inspections.
A catering business is choosed. So for a catering business, it is mandatory to obtain an FSSAI Food Business License.
The target market for a catering business may include the corporate market and the private market. So in order to obtain FSSAI Food Business License, the incorporation documents of the business must be submitted along with proof of your address, identity/resident proof of the promoters and details which has to be as per the application format.
So, for a specific individual to start a business in, obtaining a business license is quite necessary. Thus, this is an important and needed document issued by municipal council.
Hence, obtaining a business liscence is quite necessary for starting any business.
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