Presented below are a number of operational guidelines and practices that have developed over time. Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices.

a. Fair value changes are not recognized in the accounting records.
b. Financial information is presented so that investors will not be misled.
c. Intangible assets are amortized over periods benefited.
d. Agricultural companies use fair value for purposes of valuing crops.
e. Each enterprise is kept as a unit distinct from its owner or owners.
f. All significant post-balance-sheet events are disclosed.
g. Revenue is recorded when the product is delivered.

Answers

Answer 1

Answer:

a. Fair value changes are not recognized in the accounting records.

Appropriate Selection: Historical Cost Principle

b. Financial information is presented so that investors will not be misled.

Appropriate Selection: Full Disclosure Principle

c. Intangible assets are amortized over periods benefited.

Appropriate Selection: Expense Recognition Principle

d. Agricultural companies use fair value for purposes of valuing crops.

Appropriate Selection: Measurement Principle

e. Each enterprise is kept as a unit distinct from its owner or owners.

Appropriate Selection: Economic entity assumption

f. All significant post-balance-sheet events are disclosed.

Appropriate Selection: Full Disclosure Principle

g. Revenue is recorded when the product is delivered.

Appropriate Selection: Revenue Recognition Principle


Related Questions

Suppose that it costs $1.50 to download a song. How many songs will Ray choose to download per
month?

Answers

Answer:

18

Explanation:

1.50x12=18

Scott Bennett is preparing his balance sheet and income and expense statement for the year ending June 30, 2016. He is having difficulty classifying six items and asks for your help. Which, if any, of the following transactions are assets, liabilities, income, or expense items?
a. Scott rents a house for $1,350 a month.
b. On June 21, 2016, Scott bought diamond earrings for his wife and charged them using his MasterCard. The earrings cost $900, but he hasn’t yet received the bill.
c. Scott borrowed $3,500 from his parents last fall, but so far, he has made no payments to them.
d. Scott makes monthly payments of $225 on an installment loan; about half of it is interest, and the balance is repayment of principal. He has 20 payments left, totaling $4,500.
e. Scott paid $3,800 in taxes during the year and is due a tax refund of $650, which he hasn’t yet received.
f. Scott invested $2,300 in some common stock.

Answers

Answer:

a. Expense

b. Expense and Liability

c. Assets and Liability

d. Expense and Liability

e. Expense and Asset

f. Assets

Explanation:

Assets are resources held or controlled by the entity as a results of a past event, for which future economic benefits are expected to flow to the entity, liabilities are present obligations of an entity as a result of a past event for which future economic benefits would flow out of the entity. Income and expense are elements of the income statements while the assets and liabilities are elements of balance sheet along with equities. Considering the lines

a. Scott rents a house for $1,350 a month - This is an expense except for when paid for in advance then it becomes an asset.

b. On June 21, 2016, Scott bought diamond earrings for his wife and charged them using his MasterCard. The earrings cost $900, but he hasn’t yet received the bill. - This represents both expense and a liability as he is yet to receive the bill.

c. Scott borrowed $3,500 from his parents last fall, but so far, he has made no payments to them. - This is an asset (cash) and a liability since he is yet to pay.

d. Scott makes monthly payments of $225 on an installment loan; about half of it is interest, and the balance is repayment of principal. He has 20 payments left, totaling $4,500 -  The interest element is an expense while the amount left is a liability

e. Scott paid $3,800 in taxes during the year and is due a tax refund of $650, which he hasn’t yet received. - The  amount paid in taxes is an expense while the amount to be received back is an asset

f. Scott invested $2,300 in some common stock  - This is an assets

Berry Good LLC registers its trademark with the U.S. Patent and Trademark office and uses it to market a distinctive line of ice cream products. Creamy Inc. uses the mark without Berry's consent to sell imitation frozen desserts. Berry has a cause of action against Select one: a. the U.S. Patent and Trademark office b. Creamy Inc. c. both Creamy and the U.S. Patent and Trademark office d. consumers who buy the Creamy products.

Answers

Answer:

b. Creamy Inc.

Explanation:

From the question we are informed about Berry Good LLC which registers its trademark with the U.S. Patent and Trademark office and uses it to market a distinctive line of ice cream products. Creamy Inc. uses the mark without Berry's consent to sell imitation frozen desserts. Berry has a cause of action against Creamy Inc. What happen here was a Trademark infringement on Creamy Inc part. Infringement can be regarded as violation of exclusive rights that is associated with someone trademark. This as a result of not taken authorization from the owner of the Trade mark who has the licensees

Dale and Dana work at a self-service gas station and convenience store. Dale opens up every day, and Dana arrives later to help stock the store. They are both paid the current market wage of $9.50 per hour. But Dale feels he should be paid much more because the revenue generated from the gas pumps he turns on every morning is much higher than the revenue generated by the items that Dana stocks.

Required:
Assess this argument.

Answers

Answer is given below :

Explanation:

Dale argument is wrong, because the business owner hires workers for up to $9.50 per hour, the last person's marginal product. This implies that all other hired workers will have a marginal product value of more than 9.50 per hour, although wages equal to 50 9.50 will be paid. Therefore any employee who opens a station, be it Dala or Dana, has more value than a marginal product than any other person who reports for work.

Ricky’s Piano Rebuilding Company has been operating for one year. On January 1, at the start of its second year, its income statement accounts had zero balances and its balance sheet account balances were as follows: Cash $ 6,800 Accounts Payable $ 12,600 Accounts Receivable 32,750 Deferred Revenue (deposits) 3,250 Supplies 1,850 Notes Payable (long-term) 45,500 Equipment 14,500 Common Stock 7,500 Land 10,050 Retained Earnings 17,300 Building 20,200 Following are the January transactions: Received a $870 deposit from a customer who wanted her piano rebuilt in February. Rented a part of the building to a bicycle repair shop; $355 rent received for January. Delivered five rebuilt pianos to customers who paid $12,775 in cash. Delivered two rebuilt pianos to customers for $6,400 charged on account. Received $5,300 from customers as payment on their accounts. Received an electric and gas utility bill for $675 for January services to be paid in February. Ordered $945 in supplies. Paid $1,750 on account in January. Paid $11,000 in wages to employees in January for work done this month. Received and paid cash for the supplies in (g). Post the journal entries to the T-accounts. Show the unadjusted beginning and ending balances in the T-accounts

Answers

Answer:

Ricky’s Piano Rebuilding Company

Cash

Account Titles              Debit     Credit

Beginning Balance    $ 6,800

Deferred Revenue          870

Rent Revenue                 355

Service Revenue        12,775

Accounts Receivable  5,300

Accounts Payable                        $1,750

Wages Expense                           11,000

Balance                                     $13,350

Totals                       $26,100   $26,100

Accounts Receivable

Account Titles              Debit     Credit

Beginning Balance   $32,750

Service Revenue          6,400

Cash                                           $5,300

Balance                                    $33,850

Totals                       $39,150   $39,150

Supplies

Account Titles              Debit     Credit

Beginning Balance    $1,850

Equipment

Account Titles              Debit     Credit

Beginning Balance   $14,500

Building

Account Titles              Debit     Credit

Beginning Balance   $20,200

Land

Account Titles              Debit     Credit

Beginning Balance   $10,050

Utilities Expense

Account Titles              Debit     Credit

Accounts Payable        $675

Wages Expense

Account Titles              Debit     Credit

Cash                             $11,000

Accounts Payable

Account Titles              Debit     Credit

Beginning Balance                     $12,600

Cash                            $1,750

Balance                       10,850

Totals                        $12,600   $12,600

Deferred Revenue (deposits)

Account Titles              Debit     Credit

Beginning Balance                     $3,250

Cash                                                 870

Balance                       $4,120

Totals                          $4,120    $4,120

Rent Revenue

Account Titles              Debit     Credit

Cash                                              $355

Service Revenue

Account Titles              Debit     Credit

Cash                                           $12,775

Accounts Receivable                   6,400

Balance                      $19,175

Totals                         $19,175   $19,175

Notes Payable (long-term)

Account Titles              Debit     Credit

Beginning Balance                     $45,500

Common Stock

Account Titles              Debit     Credit

Beginning Balance                     $7,500

Retained Earnings

Account Titles              Debit     Credit

Beginning Balance                    $17,300

Explanation:

a) Data and Calculations:

Beginning Balance Sheet

As of January 1, Year 2:

Cash                          $ 6,800

Accounts Receivable 32,750

Supplies                        1,850

Equipment                  14,500

Building                     20,200

Land                           10,050  

Accounts Payable                  $ 12,600

Deferred Revenue (deposits)    3,250

Notes Payable (long-term)      45,500

Common Stock                          7,500

Retained Earnings                    17,300

Totals                     $86,150   $86,150

The journal entries to record the January transactions for Ricky's Piano Rebuilding Company are as follows. The unadjusted beginning and ending balances for the accounts are also shown in Sheet 1.

A journal entry is used to record a business transaction in the accounting records of a business.

A journal entry is usually recorded in the general ledger; alternatively, it may be recorded in a subsidiary ledger that is then summarized and rolled forward into the general ledger. The general ledger is then used to create financial statements for the business.

Here are the journal entries to record the January transactions for Ricky's Piano Rebuilding Company:

Attached is sheet 1.

Unadjusted Beginning and Ending Balances are shown in Sheet 2 attached.

Ending Balances:

The ending balance is the net residual balance in an account. It is usually measured at the end of a reporting period, as part of the closing process. An ending balance is derived by adding up the transaction totals in an account and then adding this total to the beginning balance.

Learn more about journal entries, here:

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Concord Company sells televisions at an average price of $887 and also offers to each customer a separate 3-year warranty contract for $93 that requires the company to perform periodic services and to replace defective parts. During 2020, the company sold 318 televisions and 238 warranty contracts for cash. It estimates the 3-year warranty costs as $22 for parts and $42 for labor, and accounts for warranties separately. Assume sales occurred on December 31, 2020, and straight-line recognition of warranty revenues occurs.

Required:
a. Record any necessary journal entries in 2014:
b. What liability relative to these transactions would appear on the December 31, 2014, balance sheet and how would it be classified? In 2015, Dos Passos Company incurred actual costs relative to 2014 television warranty sales of $2,000 for parts and $4,000 for labor.
c. Record any necessary journal entries in 2015 relative to 2014 television warranties.
d. What amounts relative to the 2014 television warranties would appear on the December 31, 2015, balance sheet and how would they classified?

Answers

Answer:

A. Dr Cash 304,200

Cr Sales Revenue 282,066

Cr Unearned Warranty Revenue 22,134

Explanation:

A. Preparation of entry to Record any necessary journal entries in 2014:

Dr Cash 304,200

,(282,066+22,134)

Cr Sales Revenue 282,066

($887*318)

Cr Unearned Warranty Revenue (238*93)22,134

b. Why are the four primary service outputs of spatial convenience, lot size, waiting time, and product variety important to logistics management? Provide examples of competing firms that differ in the level of each service output provided to customers.

Answers

Answer:

The primary service outputs of the spatial convenience, lot size, waiting time, and product variety) are important to logistics management and these importance are highlighted below:

Spatial convenience provide customers the benefit of shopping with lesser time and efforts as they can easily locate the products and find their product needs at a single place or well organised to find out and identify.

Lot size is important in logistics as larger lot size leads to more costs for storage and transportation and risks associated while smaller lots leads to faster service and delivery and lesser payments compared to bigger lot sizes.

Waiting time is important to logistics as the customers expect faster and efficient service in buying goods with less time for billing and purchasing the products. It improves the quality of service and indicates better management for customer convenience and satisfaction.

Product variety in logistics management helps to provide customers more value for their product and time and greater scope of satisfying their needs through different product options and wide range of products.

acc 440 There were no changes during 2021 in the number of common shares, preferred shares, or convertible bonds outstanding. There is no treasury stock. The company also has common stock options (granted in a prior year) to purchase 81,900 shares of common stock at $20 per share. (a) Compute basic earnings per share for 2021.

Answers

Answer:

a. $1,32

Explanation:

Hi, I have attached the full question as pdf below !

Basic Earning per Share = Earnings attributable to Common Stockholders ÷ Weighted Average Number of Common Stocks outstanding

Workings

Basic Earning per Share = [$1,230,000 - ($1,990,000 x 7% x 80%) - ($4,110,000 x 7%)] ÷ 627,000 =

Diluted Earning per Share = Adjusted Earnings attributable to Common Stockholders ÷ Adjusted Weighted Average Number of Common Stocks outstanding

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the item should be added to or subtracted from the book or bank balance, and whether it should or should not appear on the reconciliation.

a. The company hired a new treasurer
b. Deposit made on September 30 after the bank dosed.
c. Bank fees for Check printing are not yet recorded by the company.
d. Checks written and mailed to payees on October 2.
e. A note receivable is collected by the bank for the company but not yet recorded by the company
f. NSF check shown on bank statement but not yet recorded by company.
g. Interest earned on the account
h. Deposit mace on September 5 and processed by bank on September 6.
i. Check written by another depositor but charged against this company's account.
j. Bank service charge.
k. Checks outstanding on August 31 that cleared the bank in September.
l. Check written against the company's account and cleared by the bank; erroneously not recorded by the company's record-keeper

Answers

Answer:

    Bank            Book Balance        Shown or not shown

    balance                                    on reconciliation

a.    NA                  NA-NA                 Not shown  

b     Added            NA-NA                 Shown  

c     NA              Subtract-CR             Shown

d     NA                 NA-NA                  Not shown  

e     NA               Added-DR              Shown

f      NA              Subtract-CR            Shown  

g     NA               Added-Dr               Shown  

h      NA                NA-NA                  Not shown  

i       Added          NA-NA                  Shown

j       NA              Subtract-CR            Shown  

k      NA                NA-NA                  Not shown  

l       NA              Subtract- CR           Shown  

The European Union (EU) has been importing beef from the U.S. for decades, but over the last decade the U.S. has ramped up its genetically modified beef program. There has been not enough testing on the effects of this change to cows over a significant length of time so the EU now bans the import of beef from the U.S. What is this an example of with regards to protectionism?

Answers

Answer:

A value quota barrier.

Explanation:

Protectionism is defined as the act of restricting the imports made from another nation by the use of methods like tariffs, import quotas, and other government regulations.

A value quota is imposed in a trade trade deal to restrict or stop the volume of trade between two countries.

This decision is driven by various reasons. In this scenario it is the concern about genetically modified beef from the United states.

ergunt! please help me

Answers

Just sing a song it will help u

What is a whistleblower

Answers

A person who exposes someone’s secrets like Mr Assange

Answer:

A whistle-blower is a person who informs on a person or an organization that is engaged in an illicit activity.

A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that factory overhead costs would be $348,400 and direct labor hours would be 47,000. Actual manufacturing overhead costs incurred were $304,000, and actual direct labor hours were 52,400. The journal entry to apply the factory overhead costs for the year would include a

Answers

Answer:

Journal Entry

Debit Work-in-Process $388,284

Credit Manufacturing Overhead $388,284

To record the application of factory overhead costs for the year.

Explanation:

a) Data and Calculations:

Estimated factory overhead costs = $348,400

Estimated direct labor hours = 47,000

Predetermined overhead rate = $7.41 ($348,400/47,000)

Actual overhead costs = $304,000

Actual direct labor hours = 52,400

Applied overhead costs = $388,284 (52,400 * $7.41)

b) The overhead applied to the production for the year will be the actual direct labor hours by the predetermined overhead rate.  This yields a cost that is greater than the actual overhead costs, which means that the manufacturing overhead was overapplied.  The cause of this situation is the number of actual direct labor hours worked vis-a-vis the actual overhead costs and the predetermined rate.

Hours of labor or number of workers are common ways of measuring a company’s...

Answers

Answer:

productivity

Explanation:

The "productivity" of employees in a company is essential because it affects the company's profit. In order to measure or calculate the individual employee's productivity, you have to consider the hours of labor and the number of workers.

You have to divide the total output to the hours of labor in order to get the amount that your company is generating per hour of work.You have to divide the total output to the number of workers in order to get the the amount that every employee produced for your company per week.

How can a manager use a value chain to improve a company?

Answers

To improve a company's value chain, its value chain management team identifies each part of its production process and where improvements can be made. These improvements can either reduce costs or improve production capacity.

What are the five components of internal control briefly explain each component?

Answers

Answer: The five components of internal control are control environment, risk assessment, control activities, information and communication, and monitoring.

Explanation:

The five components of internal control are control environment, risk assessment, control activities, information and communication, and monitoring.

Control environment; is also known as internal control environment. These are set of standards and structures that guides the basis of carrying out internal control within an organization. It is the awareness, attitude and action of the management team regarding internal control and it's relevance to the organization

Risk assessment is used to describe the process and method of identifying hazard and risk which have potentials to raise harm in an environment

Control activities are policies, techniques and procedures that are pit in place to manage or reduce risk in an environment. Their actions carried out to minimize or limit risk in an environment

Information and communication is a method of information being passed through systems by means of communication. To place everyone involved in the system enlightened by communicating properly to them.

Monitoring is the act of observing a process to control both success and failure that may tend to arise within the process.

Paul Martin had worked for 12 years for the department of transportation when he applied for a promotion to dispatcher. Martin scored 75 on an interview test. Betty Palmer, another candidate, scored 73 and got the job. Martin sued the county for reverse discrimination. The county said that both Martin and Palmer were qualified and that Palmer had gotten the job as part of a voluntary affirmative action plan designed to achieve a work force that reflected the race and gender composition of the county. The county pointed out that none of 238 skilled craft workers jobs in the county were help by women. Answer the questions below around this case.

a. What issue(s) must the court decide in the case (for example, racial harassment)?
b. If you were the judge, how would you rule? Explain.
c. Describe two ways to help ensure workforce planning and employment are compliant.

Answers

Answer:

a.)

The court has to hear the arguments from both side of the party , analyze the arguments that has imposed by the party on each other. And after analyzing, the court decide the judgement.

b.)

If I were the judge , then i would not consider the case under racial harassment .

Because the country has an argument that Palmer had gotten the job as part of a voluntary affirmative action plan designed to achieve a work force that reflected the race and gender composition of the county.

Also , we know others law that says about equal employment has to give to the person without any discrimination.

c.)

To lower down the illegal occupation activities , proper plan of the workspace is must.

Steps required for workspace planning -

1. Objective of Business

2. Current workforce

3. Workers Necessity

4. Gap Minimization

5. Action plan review.

Explanation:

As given,

Paul Martin had worked for 12 years for the department of transportation when he applied for a promotion to dispatcher.

Martin scored 75 on an interview test.

Betty Palmer, another candidate, scored 73 and got the job.

a.)

The court has to hear the arguments from both side of the party , analyze the arguments that has imposed by the party on each other. And after analyzing, the court decide the judgement.

b.)

If I were the judge , then i would not consider the case under racial harassment .

Because the country has an argument that Palmer had gotten the job as part of a voluntary affirmative action plan designed to achieve a work force that reflected the race and gender composition of the county.

Also , we know others law that says about equal employment has to give to the person without any discrimination.

c.)

To lower down the illegal occupation activities , proper plan of the workspace is must.

Steps required for workspace planning -

1. Objective of Business

2. Current workforce

3. Workers Necessity

4. Gap Minimization

5. Action plan review.

what are the 6 critcal elements of a successful business

Answers

BUSINESS PLANNING. This is the start of all activities. ...
FINANCIAL MANAGEMENT. Profitable, sustainable growth can only happen with a solid understanding of your numbers. ...
MARKETING. ...
BUILDING A TEAM. ...
CUSTOMER SERVICE STRATEGY. ...
SALES & ESTIMATING. ...
CONTINUOUS IMPROVEMENT.
found a list of 7...

Answer:

Capital

Invest ment

Skilled manpower

High quality products

Machinery

Raw materials

You buy a share of The Ludwig Corporation stock for $19.20. You expect it to pay dividends of $1.11, $1.1833, and $1.2614 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $23.26 at the end of 3 years. Calculate the growth rate in dividends. Round your answer to two decimal places. % Calculate the expected dividend yield. Round your answer to two decimal places. % Assuming that the calculated growth rate is expected to continue, you can add the dividend yield to the expected growth rate to obtain the expected total rate of return. What is this stock's expected total rate of return (assume market is in equilibrium with the required rate of return equal to the expected return)

Answers

Answer:

P0 = $19.20

D1 = $1.11

D2 = $1.1833

D3 = $1.2614

P3 = $23.26

a. Dividend growth rate = (1.2614-1.1833)/1.1833 = 0.0781/1.1833 = 0.06600186 = 6.60%

b. Expected Dividend Yield=(Expected Dividend/Price)*100 = $1.11/$19.20 = 0.0578125 = 5.78%

c. Total Rate of Return = 6.60% + 5.78% = 12.38%

Help Brainliest!!!!!!

Answers

Can U send a better pic?
I think the answer is the first one: analysis of the machinery needed to run the facility

If a firm is to capture all consumer surplus with twopart pricing when customers are different A. it must set unit price below marginal cost. B. it must set unit price above marginal cost. C. it cannot charge different prices for access fees. D. it must be able to charge different access fees.

Answers

Answer: D. it must be able to charge different access fees.

Explanation:

Two part pricing refers to the charging of two prices for access to a service which are a fixed price(lumpsum) and a variable price for every unit used.

If one wants to capture all consumer pricing with this strategy and customers are different, the company simply needs to be able to charge different access fees.

This way they'll be able to charge the different customers different prices based on their willingness to pay such that they will capture all consumer surplus.

The cost of direct materials transferred into the Filling Department of Eve Cosmetics Company is $194,560. The conversion cost for the period in the Filling Department is $98,340. The total equivalent units for direct materials and conversion are 25,600 ounces and 29,800 ounces, respectively. Determine the direct materials and conversion costs per equivalent unit. If required, round to the nearest cent.
Direct materials cost per equivalent unit: $ per ounce
Conversion costs per equivalent unit: $ per ounce
The costs per equivalent unit of direct materials and conversion in the Filling Department of Eve Cosmetics Company are $2.20 and $0.65, respectively. The equivalent units to be assigned costs are as follows:
Equivalent Units
Direct Materials Conversion
Inventory in process, beginning of period 0 3,600
Started and completed during the period 45,000 45,000
Transferred out of Filling (completed) 45,000 48,600
Inventory in process, end of period 3,000 1,500
Total units to be assigned costs 48,000 50,100
The beginning work in process inventory had a cost of $2,380. Determine the cost of completed and transferred-out production and the ending work in process inventory. If required, round to the nearest dollar.

Completed and transferred-out production $
Inventory in process, ending $

Answers

Answer:

Part 1

Direct material cost per equivalent units = $194,560 / 25,600 ounces

Direct material cost per equivalent units = $ 7.60 per ounce

Conversion Cost per equivalent units = $98,340 / 29,800 ounce

Conversion Cost per equivalent units = $3.30 per ounce

Part 2

Completed and Transferred out of production = $2380 + (45,000* $2.20) + (3,600 * $0.65) + (45,000 * $0.65)

= $2,380 + $99,000 + $2,340 + $29,250

= $132,970

Inventory in process, ending = (3000 * $2.20) + (1500 * $0.65)

= $6,600 + $975

= $7,575

The time management skill of knowing your limits means: A. Knowing how long it will take you to accomplish a task. B. Knowing how to accomplish a lot of objectives so you do not have to cut back C. Knowing how to do everything so you never need to say no. D. All of the above

Answers

Answer:

A. Knowing how long it will take you to accomplish a task

Explanation:

Knowing your limits refers to understanding one potential and abilities. It is recognizing one's strengths and weaknesses.  The time management skill of knowing your limits refers to the ability to accurately estimates how long it will take one to accomplish a specific task. It implies that an individual is fully aware of their true potential, what they can achieve, and how long it will take them to achieve it.

Answer:

The answer is A

Explanation:

The accounting equation elements and their balances of Awesome Travel Services at December 31 are listed below. There were no additional investments or withdrawals by J. Trendsetter during the year.
Accounts payable $12,000 J. Trendsetter, capital
(January 1) $10,000
Accounts receivable 14,000 Supplies 1,000
Cash 18,000 Income taxes expense 1,300
Computer equipment 21,000 Utilities expense 8,000
Fees earned 78,000 Wages expense 25,000
Rent expense 10,000 Supplies expense 1,700
Prepare an income statement, statement of owner's equity and a balance sheet as of December 31.

Answers

Answer:

A. $32,000

B. $42,000

C. $54,000

Explanation:

A.Preparation of an income statement

J. Trendsetter Income StatementFor the Year Ended December 31

Fees earned$78,000

Less Operating expenses:

Wages expense$25,000

Rent expense10,000

Utilities expense8,000

Supplies expense1,700

Income taxes expense1,300

Total expenses 46,000

Net income$32,000

($78,000-46,000)

Therefore Income StatementFor the Year Ended December 31 will be $32,000

B. Preparation of statement of owner's equity

J. Trendsetter Statement of owners equity

As at December 31

J. Trendsetter, Capital 1/1 $10,000

Add Net income $32,000

Capital 12/31 $42,000

Therefore Statement of owners equity

As at December 31 will be $42,000

C.Preparation of balance sheet as of December 31.

J. Trendsetter Balance Sheet

As at December 31

ASSETS

Computer Equipment 21,000

Accounts Receivable 14,000

Supplies 1,000

Cash 18,000

Total Assets $54,000

Liabilities and Owner's Equity

CURRENT LIABILITIES

Accounts Payable $12,000

Owner's Equity $42,000

Total liabilities and owner's equity $54,000

Therefore balance sheet as of December 31 for both Total Assets and Total Liabilities will be $54,000

Sue views hot dogs (H) and hot dog buns (B) as perfect complements in her consumption, and the corners of her indifference curves follow the 45-degree line: H-B. Suppose the price of hot dogs is $5 per package (8 hot dogs), the price of buns is $3 per package (8 hot dog buns), and Sue's budget is $48 per month. What is her optimal choice under this scenario?
A. 6 packages of hot dogs and 6 packages of buns.
B. 6 packages of hot dogs and 8 packages of buns.
C. 8 packages of hot dogs and 8 packages of buns.
D. 8 packages of hot dogs and 6 packages of buns.

Answers

Answer:

A

Explanation:

a budget constraint is the total amount of goods and services an individual can buy given the price of the products and the income of the consumer.

Sue is constrained by her income. Thus, she must spend within $48

The equation for this is :

$5H + $3B = $48

where  

H = hot dogs

B = Hot dog buns

(5 x 6 ) + (3 x 6 ) = $48

Theories aim to _____________.
Select the correct answer below:
a) create applied (or empirical) representations
b) take a complex, real-world issue and simplify it down to its essentials
c) implement a method to view the world through the same lens as other disciplines, such as anthropology and biology
d) build a physical model that sits on a tabletop

Answers

Answer:

B) take a complex, real-world issue and simplify it down to its essentials

Explanation:

Theory can be regarded as contemplative as well as rational type of abstract, it is a generalizing thinking regarding a phenomenon and it could be the results of such thinking. The theory is associated with process such as observational study as well as research. It should be noted that Theories aim to take a complex, real-world issue and simplify it down to its essentials

Since Cate Langton was hired in the marketing department of a consumer products manufacturer, she has worked in its public relations department, she has worked in its advertising department, and she has worked to help design collateral sales material and point-of-purchase displays. Next week she will go out on the road as a salesperson. What method of training is Langton's employer using

Answers

Answer:

Job rotation

Explanation:

Analyzing the information above, it is possible to state that the training method that Langton's employer is using is job rotation. This method is used when an organization wants to expand the employee's learning through collaboration in different areas of the company, with the objective that the learning is maximized and the employee has a systemic and integrated view of the organization, as is the case. Langton, who worked in different departments of the company.

The job rotation can be advantageous for organizations, as it helps in the development of different skills in an employee, benefiting the company as a whole, by the greater ability to identify talents and potentials of an employee, increasing the interpersonal relationship, etc.

Cost of Direct Materials Used in Production for a Manufacturing Company Walker Manufacturing Company reported the following materials data for the month ending June 30: Materials purchased $154,700 Materials inventory, June 1 48,800 Materials inventory, June 30 40,700 Determine the cost of direct materials used in production by Walker during the month ended June 3

Answers

Answer:

the direct material used is $162,400

Explanation:

The computation of the direct material used is as follows:

= Opening inventory + material purchased - ending inventory

= $48,400 + $154,700 - $40,700

= $162,400

Hence, the direct material used is $162,400

We simply applied the above formula so that the correct value could come

Jolanta earned $80,000 and had the following income or expenses: Qualified dividend income $8,000 Credit card interest $ 250 Qualified mortgage interest $5600 Un-reimbursed employee medical expenses $12,000 Assuming she had no other income or expenses, what will be the amount of itemized deductions allowed on her federal tax return for 2018

Answers

Answer:

Jolanta

The amount of itemized deductions allowed on her federal tax return for 2018:

= $5,600

Explanation:

a) Data and Calculations:

Jolanta's earnings = $80,000

Other income or expenses:

Qualified dividend income $8,000

Credit card interest $ 250

Qualified mortgage interest $5600

Unreimbursed employee medical expenses $12,000

Itemized Deductions:

Qualified mortgage interest $5600

b) The Tax Cuts and Jobs Act eliminated the deduction for unreimbursed employee expenses for the tax year 2018 to 2025.  This means that Jolanta cannot include the unreimbursed employee medical expenses of $12,000 in her itemized deductions.  Credit card interest is not an allowed item under itemized deductions as the tax law classifies it as a personal interest.

The terms and conditions of an online sale are not binding on the buyer if the buyer did not read them.
Select one:
O True
O False

Answers

Answer:

True

Explanation:

i hope this help you

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