Option d is correct. The cost of producing power privately is equal to the value of electricity to customers.
Environmental degradation can result from economic activity. This trade-off occurs in all nations, whether they have high or low incomes, market- or command-oriented economies.
When a trade between a buyer and a seller has an effect on a third person who is not a part of the exchange, it is known as an externality, also referred to as a spillover. Externalities can be either good or bad.
Externalities are one form of a market failure. A market failure occurs when the market does not efficiently allocate resources on its own in a way that balances social costs and benefits.
In addition to the private expenses that businesses incur, social costs also comprise additional external costs that third parties outside the production process incur.
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elton mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions.
Elton mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions is true.
How did Mayo view the interaction between employees and management?Elton Mayo came to the conclusion that employees' requirements were frequently based on feeling (belonging to a group and having a sense of value), and that this may cause conflicts with managers, who were primarily concerned with cost-cutting and efficiency.
Therefore, According to Elton Mayo's research, when managers took the time to hear the ideas and opinions of their employees, work or motivation increased. The expectation hypothesis states that when employees are given an extremely difficult task, their motivation nearly always improves.
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Elton mayo's researchers concluded that worker motivation improved when managers listened to worker's ideas and suggestions. true or false
exchange rates group of answer choices are always fixed between the currencies of two countries. fluctuate to equate the quantity of foreign exchange demanded with the quantity supplied. fluctuate to equate imports and exports. fluctuate to equate interest rates in various countries. fluctuate according to agreements between the governments of various countries.
Change so that the amount of foreign currency needed and the amount provided are equal.
Are exchange rates for currencies movable or fixed?
Is the exchange rate for the US dollar fixed or floating? Like the majority of major currencies worldwide, the US dollar is a floating currency. In the global currency markets, the demand for the dollar floats the dollar's value. The United States dollar was once a fixed currency that was pegged to gold's value.
What is a rate of exchange?
change in value. the value of one nation's currency in comparison to that of another nation; allows for trade; affects the price of money but not the supply of money.
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which posters does the occupational safety and health act (osha) require most businesses to display? choose 2 answers.
The posters that the Occupational Safety and Health Act (OSHA) require most businesses to display are:
A. the "Family and Medical Leave Act" poster
B. the "Job Safety and Health Protection" poster.
What does the occupational safety and health act provide?A federal law known as the Occupational Safety and Health Act was adopted by Congress in 1970 to guarantee safe working conditions across the nation. The legislation created OSHA, a federal agency responsible for establishing and enforcing occupational health and safety regulations.
The majority of employers and employees in the private sector, as well as some in the governmental sector, are covered by the Act. Last but not least, the Occupational Safety and Health Act acts as the law's enforcement mechanism, levying fines and penalties against employers that violate its rules, standards, and guidelines.
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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 price for a Yankees ticket is $150 and the quantity is 150,000.
The graphs for the demand and marginal revenue are shown below (in thousands of tickets):
Kansas City Royals:
Demand: P = 100 - Q
Marginal Revenue: P = 100 - 2Q
New York Yankees:
Demand: P = 300 - Q
Marginal Revenue: P = 300 - 2Q
The price and quantity for Royals and Yankees tickets can be calculated by finding the intersection of the demand and marginal revenue curves.
For the Kansas City Royals:
P = 100 - Q
100 - 2Q = 100 - Q
2Q = 0
Q = 0
P = 100
Therefore, the price for a Royals ticket is $100 and the quantity is 0.
For the New York Yankees:
P = 300 - Q
300 - 2Q = 300 - Q
2Q = 0
Q = 150
P = 150
Therefore, the price for a Yankees ticket is $150 and the quantity is 150,000.
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katrine reported to the management team that currently 42% of their total assets were in raw materials and 58% were in finished goods. the finished goods were divided equally between their plants in the united states, honduras, and indonesia. katrine's report is a summary of the company's global
Katrine's report is a summary of the company's global inventory management.
Organizations can use dual valuation and/or dual currency to report inventory statements and sub-ledger accounting values, often known as the inventory balance and cost of goods sold, using global inventory management. Individual ledgers are used for inventory management.
Real-time inventory allocation and availability confirmation are performed. The finest Available-to-promise (ATP) dates and the most effective fulfillment alternatives are provided by Global Inventory Visibility, which makes use of an intelligent sourcing engine that optimizes inventory utilization throughout the extended company.
Managing and remarketing medical equipment, Global Inventory Management collaborates with top partners like hospitals, manufacturers, and financial institutions.
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Kelly lives in Arkansas and works in the data division of Acxiom Corporation. Acxiom has its headquarters in Conway, Arkansas. Acxiom is incorporated in Delaware, however, because of the corporate-friendly laws in that state. Kelly works in a(n):
a) foreign corporation because Acxiom is incorporated in a different state than the division where Kelly works.
b) domestic corporation, because Acxiom’s headquarters is in the same state where Kelly works.
c) close corporation because Kelly works in a division of Acxiom located close to where she lives.
d) alien corporation because Acxiom is incorporated in a different state than the division where Kelly works.
Answer: b) domestic corporation, because Acxiom’s headquarters is in the same state where Kelly works.
A domestic corporation is a corporation that is incorporated in the same state where it operates. Acxiom is incorporated in Delaware, but its headquarters is located in Conway, Arkansas where Kelly works. Therefore, Acxiom is a domestic corporation in Arkansas.
As per Section 2(22A), "domestic company" means an Indian company, or any other company which, in respect of its income liable to tax under this Act, has made the prescribed arrangements for the declaration and payment, within India, of the dividends (including dividends on preference shares) payable out of such.
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ompany acquired 90 percent ownership of scrooge corporation in 20x7, atunderlying book value. on that date, the fair value of noncontrolling interest was equal to 10percent of the book value of scrooge corporation. pilfer purchased inventory from scrooge for$90,000 on august 20, 20x8, and resold 70 percent of the inventory to unaffiliated companies ondecember 1, 20x8, for $100,000. scrooge produced the inventory sold to pilfer for $67,000. thecompanies had no other transactions during 20x8.base
The amount of sales will be reported in the 20X8 consolidated income statement is $100,000.
Since 70% of the goods are sold of the price of $100,000 therefore we can say that in the consolidated income statement, the sales amount is $100,000.
An income declaration or profit and loss account is one of the economic statements of a business enterprise and indicates the company's revenues and prices during a specific duration. It suggests how the sales are converted into the net income or internet profit. An income declaration shows a corporation's revenues, costs and profitability over a time frame. it's also sometimes known as a income-and-loss (P&L) assertion or an profits assertion. It shows your: revenue from selling services or products. costs to generate the revenue and manipulate your enterprise.
An income announcement is a monetary assertion that indicates you the organization's income and costs. It additionally shows whether a agency is making income or loss for a given period. The income declaration, together with stability sheet and coins glide declaration, helps you understand the economic health of your commercial enterprise.
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supply chain planning systems perform all of the following functions except: group of answer choices establish inventory levels for raw materials and finished goods. identify the transportation mode to use for product delivery. track the physical status of goods. determine where to store finished goods. determine how much product to manufacture in a given time period.
Supply chain planning systems perform all of the following functions except option c, which track the physical status of goods.
Supply chain planning coordinates the delivery of services, goods, and information from suppliers to customers which balances the demand and supply. It is a network between suppliers and organizations which ensures the manufacture and distribution of products and services to buyers. A supply chain consists of resources, entities, information, and others to function.
It consists of all functions from the creation of a product, raw materials, and manufacture to supply. However, the supply chain planning system does not consist of the function of tracking the physical status of goods which is managed by the transportation section.
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studies by the world bank and others have underscored the successes of countries that have adopted group of answer choices import substitution. export promotion. trade liberalization policies. brain drain. trade restrictions. previousnext
Studies conducted by the world bank and other organisations have highlighted the achievements of nations that have implemented trade liberalisation policies. Hence, Option C is correct.
Trade liberalisation is the process of removing or reducing restrictions or obstacles to the free flow of products between states. These obstacles include both tariffs, such as levies and surcharges, and nontariff barriers, such as licencing requirements and quotas.
The relaxation or removal of these barriers is sometimes seen by economists as a step toward promoting free trade. Trade liberalisation is a contentious issue.
Because of the influx of less expensive items into the local market, critics of trade liberalisation assert that the strategy could lose employment.
The goods may be of lower quality and poorer safety, according to critics, than comparable domestic products that may have undergone more thorough safety and quality inspections.
Therefore, Option C is correct.
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what is the objective of bollinger bands? smooth out data points to find an average stock price over time create ratio sequences for stock prices identify a relative definition of high and low stock prices over a certain time period compare the strength and magnitude of a stock's gains and losses over time
Bollinger Bands are a technical indicator used to identify the relative definition of high and low stock prices over a certain time period.
They are used to smooth out data points to find an average stock price over time and to compare the strength and magnitude of a stock's gains and losses over time.
The bands are composed of a simple moving average (SMA) in the middle, two standard deviations away from the SMA (one above and one below), and two other lines (one above and one below) that are two standard deviations away from the SMA.
These bands measure the volatility of a stock in relation to the average. When the stock is trading near the upper band, it is considered to be overbought, and when it is trading near the lower band, it is considered to be oversold.
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Which of the following investments would be protected by the FDIC? A) Money Market Accounts B) Stocks C) Bonds D) Mutual Funds
Money Market Accounts are the investments that would be protected by the FDIC. (Option A)
What is meant by a money market account?In addition to a debit card and check writing privileges, a money market account is often a sort of savings account. High-yield savings accounts typically offer better rates than money market accounts, but they may also have higher minimum balance requirements.
Are money market accounts covered by the FDIC?There are just a few deposit instruments that are covered by FDIC deposit insurance, including checking and savings accounts, money market deposit accounts (MMDAs), and certificates of deposit (CDs).
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Answer: C money market accounts
Explanation: edge 2023
the letter might change be carefulcoda inc. is an apparel manufacturer. the management at coda prefers moderate control over the operations of the different departments such as r
It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through input controls.
A budget is a series of calculations, often but not necessarily financial, for a predetermined time frame, frequently a year or a month. A budget may contain information on expected sales and revenue levels, resource quantities such as time, costs, and expenses, environmental impacts such as greenhouse gas emissions, other impacts, assets, liabilities, and cash flows.
Budgets are used by businesses, governments, families, and other groups to define strategic plans of operations in quantifiable terms. A budget lists proposed ways to raise the funds needed to cover projected expenditures. A budget might show a surplus of resources for future use or a deficit where spending exceeds income or other available resources.
The above question is incomplete, the complete question is-
Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
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Economists Edward Glaeser and Matthew Kahn studied carbon emissions in different parts of the United States. basis of what they found, they concluded that environmentalists should be in favor of a. policies that encourage people to move from suburban areas to rural areas b, lower taxes on carbon-based fuels such as gasoline. c. more and taller skyscrapers. d. policies that encourage people to move from large cities to suburban arear
Economists Edward Glaeser and Matthew Kahn studied carbon emissions in different parts of the United States. basis of what they found, they concluded that environmentalists should be in favor of more and taller skyscrapers.
The “terrible” element way that the externality is one this is dangerous in preference to useful to the ones affected. The carbon emissions and the ensuing worldwide warming are terrible externalities because their prices to the surroundings are detrimental, however oblique and gradual.
Bystander effect, the inhibiting has an impact on of the presence of others on someone's willingness to assist a person in need. Research has proven that, even in an emergency, a bystander is much less probably to increase assist whilst she or he is withinside the actual or imagined presence of others than whilst she or he is alone.
The bystander effect happens whilst the presence of others discourages a man or woman from intervening in an emergency situation, towards a bully, or at some point of an attack or different crime. The extra the variety of bystanders, the much less probably it's far for any person of them to offer assist to someone in distress.
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Preferred stockholders usually have preference over common stockholders with respect to which items? (Select all that apply.)
(_) issuance of additional debt
(_) issuance of additional shares
(_) distribution of assets in liquidation
(_) dividends
When it comes to dividends, preferred investors often have a leg up on regular stockholders. Thus, the correct answer is dividends.
How does the dividend system work?A dividend is a revenue payment made by a corporation to its shareholders. When a business makes a profit or has a surplus, it can distribute a portion of its profits to shareholders in the form of a dividend. Any monies that are not dispersed are reinvested in the company. Earnings for the current year, as well as retained profits from prior years, are available for distribution; a company is usually forbidden from paying a dividend out of its capital. If the corporation has a dividend reinvestment plan, the amount might be distributed to shareholders in cash, new shares, or current shares repurchased. In some situations, assets may be distributed.
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which statement attests to the seriousness of the need for businesses to implement risk management strategies?
Environmental changes are increasingly posing a concern to businesses.
How should business be defined?An organisation or enterprising entity engaging in economic, industrial, or professional activity is referred to as a business. Companies can be for-profit corporations or charitable institutions. Limited liability firms, sole proprietors, corporations, and partnerships are among the several types of businesses.
What makes business so crucial?Our lives depend heavily on business. They start by producing things and services to meet our needs and desires. Then, they enlist households as workers and compensate them with earnings, salaries, and benefits. As a result, it turns into a source of revenue for them, which they may utilize to maintain their way of life.
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Real property taxes tend to have significantly lower compliance cost per dollar of revenue raised than do individual income taxes because
a. local governments administer property taxes.
b. real property taxes are taxpayer-passive while income taxes are taxpayer-active.
c. individual income taxes yield vastly more revenue than do real property taxes.
d. the statement is inaccurate: real property compliance costs are actually higher.
Than do individual income taxes because local governments administer property taxes. Owners of real estate must pay property taxes that are computed by the municipal authority where the asset is situated.
Property tax is calculated based on the value of the property, which can be tangible personal property or real estate in various countries. The assessed taxes are used for water and sewer improvements. All property owners must yearly pay real estate tax, often known as real property tax (RPT). Real property taxes may be levied by LGUs and local governments across the nation under sections 197 to 283 of the Local Government Code.
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The Brandon household has a monthly income of $5.750 on which to base their budget. They plan to save 10 percent and spend 32 percent on fixed expenses and 56 percent on variable expenses. a. What amount do they plan to set aside for each major budget section? (Round your answers to 2 decimal places.) Savings Fixed expenses Variable expenses b. After setting aside these amounts, what amount would remain for additional savings or for paying off debts?
The Brandon Household has budget allocation for the monthly income as:
Savings = $575Fixed expense = $1,840Variable expense = #3,220Remaining income = $115
From the case, we know that:
Monthly Income = %5,750
Savings = 10%
Fixed expense = 32%
Variable expense = 56%
The income allocated as saving is:
Savings = 10% x %5,750
Savings = $575
The income allocated to pay fixed expenses is:
Fixed expense = 32% x %5,750
Fixed expense = $1,840
The income allocated to pay variable expenses is:
Variable expense = 56% x $5,750
Variable expense = $3,220
The remaining income for additional satvings or for paying off debts is:
Remaining income = Monthly income - savings - Fixed expense - Variabe expense
Remaining income = $5,750 - $575 - $1,840 - $3,220
Remaining income = $115
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lance-hefner specialty shoppes decided to use the dollar-value lifo retail method to value its inventory. accounting records provide the following information: cost retail merchandise inventory, january 1, 2021 $ 245,000 $ 350,000 net purchases 458,800 615,000 net markups 18,000 net markdowns 13,000 net sales 460,000 related retail price indexes are as follows: january 1, 2021 1.00 december 31, 2021 1.20 required: determine ending inventory and cost of goods sold using the information provided.
The ending inventory will be $234,800 and cost of goods sold is $275,400.
According to the LIFO retail method, ending inventory includes the start inventory and the present year's layer. to see layers, we have a tendency to compare ending inventory at retail to starting inventory at retail and assume that no over one inventory layer is side if inventory will increase.
Ending inventory is that the quantity of inventory an organization has available at the tip of its year. it's closely connected with ending inventory price, that is that the quantity of cash spent to induce these product available. It ought to be calculated at the lower of price or market.
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the innovation products company wants to launch a new product to replace a current product that is technologically inferior. first-year sales for the replacement product are expected to be 50,000 units at a unit selling price of $12. the initial cost of the product is $9 per unit variable and $125,000 fixed. the expected sales growth is 1,000 units per year, and the expected inflation rate is in a range of 3% to 4% for both sales and variable costs.
The new product is expected to be profitable by $25,000 in its first year. The profitability of the new product can be determined by subtracting the total costs from the total revenue. The total costs include the initial cost of the product ($9 per unit variable and $125,000 fixed) plus the expected inflation rate of 3% to 4% for both sales and variable costs.
The total revenue is the expected first-year sales of 50,000 units at a unit selling price of $12. Based on this information, the profitability of the new product can be calculated as follows:
Total Revenue = 50,000 units x $12 = $600,000
Total Costs = $9 x 50,000 = $450,000 + $125,000 = $575,000
Profitability = Total Revenue – Total Costs = $600,000 – $575,000 = $25,000
Therefore, the new product is expected to be profitable by $25,000 in its first year.
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you have the following information for wildhorse co.. wildhorse co. uses the periodic method of accounting for its inventory transactions. assume that wildhorse co. uses the specific odentification cost flow method.
Wildhorse Co. uses the specific identification FIFO cost flow method.
FIFO, or "First-In, First-Out," is an acronym. This technique is used for the calculation of the cost of goods sold under the assumption of cost flow. The FIFO approach presupposes that a company's inventory has been sold in the order of oldest to newest items. In the computation, the prices paid for the oldest items are the ones that are taken into account.
More accurate outcomes are more probable with FIFO. This is because it is simpler to calculate stock profit, which makes it simple to update your financial statements and save time and money. Additionally, it prevents the re-counting of old stock and prevents it from being kept for too long before it becomes useless.
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Department B had 3,000 units in Work in Process that were 25% completed at the beginning of the period at a cost of $12,500. 13,700 units of direct materials were added during the period at a cost of $28,700. 15,000 units were completed during the period, and 1,700 units were 95% completed at the end of the period. All materials are added at the beginning of the process. Direct labor was $32,450 and factory overhead was $18,710.
The number of equivalent units of production for the period for materials if the first-in, first-out method is used to cost inventories was:
a. 16,700
b. 12,000
c. 1,700
d. 13,700
The number of equivalent units of production for the period for materials if the first-in, first-out method is used to cost inventories was 13,700.
Equivalent units represent the amount of work done on a specific number of physical items. To easily calculate equivalent units, multiply the number of physical items by their work percentage. For two items that are 50% complete, there are equivalent units (2 x 50% = 1).
Cost per equivalent unit is defined as the sum of the cost added during this period plus the starting cost of work in process divided by the equivalent unit. Equivalent units are the theoretical number of units a firm could produce with a given amount of materials, labor, and manufacturing overhead.
Equivalent sets are sets that contain the same number of elements, but the elements themselves may differ. For example, set A {5, 10, 15, 20} corresponds to set B {w, x, y, z}. Each set contains 4 items.
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for a cartel to be successful in increasing the price all member firms receive for their product, it must be able to g
For a cartel to be successful in increasing the price all member firms receive for their product, it must be able to b) restrict the collective output of all members of the cartel.
An official agreement between a group of producers of an item or service to control supply in order to control or manipulate prices gives rise to a cartel, which is an organization.
In other terms, a cartel is a group of independent companies or nations acting jointly as if they were a single producer, allowing them to set prices for the goods and services they manufacture and provide without having to face competition.
Cartels function to the harm of the consumer because their actions seek to drive up the cost of a good or service over its going rate. However, their actions also have other negative effects.
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Correct question:
For a cartel to be successful in increasing the price all member firms receive for their product, it must be able to
a) increase the collective output of all members of the cartel.
b) restrict the collective output of all members of the cartel.
c) decrease the prices members of the cartel pay for their inputs.
d) increase advertising of all members of the cartel.
crazy mountain tours co. is a travel agency. the nine transactions recorded by crazy mountain tours during may 20y2, its first month of operations, are indicated in the following t accounts: cash 5/1 31,000 5/2 2,700 5/11 8,500 5/3 3,800 5/5 4,800 5/9 5,700 5/25 2,500 accounts receivable 5/8 12,600 5/11 8,500 supplies 5/2 2,700 5/15 700 equipment 5/3 12,500 accounts payable 5/9 5,700 5/3 8,700 common stock 5/1 31,000 dividends 5/25 2,500 service revenue 5/8 12,600 operating expenses 5/5 4,800 5/15 700 based upon the t accounts provided, prepare the nine journal entries from which the postings were made.
The journal entry of the crazy mountain tours co is given below.
The term journal entry in accounting is defined as records a business transaction in the accounting system for an organization
Here we have given crazy mountain tours co. is a travel agency. the nine transactions recorded
And we have to prepare the nine journal entries from which the postings were made.
While we looking into the given question we have identified the following as debit transactions,
Accounts receivable = 12,600 + 8500 = 21,000
Equipment = 12,500
Common stocks = 31,000
Dividend = 2,500
And the credit transactions are identified as,
Accounts payable = 5,700 + 8,700 = 14,400
Supplies = 2700 + 700 = 3400
Operating expenses = 4,800 + 700 = 5,500
The the journal entry for the transaction can be written as follows:
Jan Accounts receivable Dr. $21,000
Equipment Dr. $12,500
Common stocks Dr. $31,000
Dividend Dr. $2,500
To Supplies $3,400
To Accounts payable $14,400
To operating expenses $5, 500
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Demand in industrial markets is different from that in consumer markets. All of the following are factors that differentiate the industrial market from the consumer market EXCEPT:
1. stages in economic development affect demand for industrial products.
2. demand is more volatile in the industrial market.
3. stages in industrial development affect demand for industrial products.
4. the level of technology of products and services makes their sale more appropriate in some countries than others.
5. industrial products are always more expensive than consumer products
The level of technology of products and services makes their sale more appropriate in some countries than others is not a factor that differentiate the industrial market from the consumer market.
In an industrial market, businesses trade goods or services with other businesses rather than with a consumer base. This sector, also referred to as the business-to-business market, includes three different subsets: companies that sell goods, companies that sell raw materials, and companies that provide services.
Agriculture; mining; manufacturing; construction and transportation; communication and public utilities; banking, finance, and insurance; and services make up the majority of the industries that make up the industrial market (business market).
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when a shopper recognizes similarities between themselves and a reviewer this tends to increase trust in product reviews, this is referred to as which of the following?
This is referred to as Confirmation Bias.
What do you mean by Confirmation Bias?
Our propensity to selectively choose information that supports our preexisting opinions or ideas is known as confirmation bias. Two persons with different opinions on a subject may encounter the same piece of information and feel justified by it, which is explained by confirmation bias. The psychology term "confirmation bias" describes the propensity of people to exclusively look for evidence that validates their own beliefs. As a result, you become biased in favor of your initial viewpoint since you will only ever find evidence to support your original viewpoint if you only look for it.To know more about Confirmation bias here
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se the following financial statements and additional information.
AUSTIN INCORPORATED
Comparative Balance Sheets
June 30, 2019 and 2018
2019 2018
Assets
Cash $ 94,300 $ 39,400
Accounts receivable, net 81,000 63,000
Inventory 68,000 94,000
Prepaid expenses 5,600 7,000
Total current assets 248,900 203,400
Equipment 176,000 163,000
Accumulated depreciation—Equipment (45,000) (15,000)
Total assets $ 379,900 $ 351,400
Liabilities and Equity
Accounts payable $ 31,000 $ 38,000
Wages payable 6,000 16,000
Income taxes payable 4,900 5,400
Total current liabilities 41,900 59,400
Notes payable (long term) 40,000 80,000
Total liabilities 81,900 139,400
Equity
Common stock, $5 par value 240,000 170,000
Retained earnings 58,000 42,000
Total liabilities and equity $ 379,900 $ 351,400
AUSTIN INCORPORATED
Income Statement
For Year Ended June 30, 2019
Sales $ 922,000
Cost of goods sold 564,000
Gross profit 358,000
Operating expenses
Depreciation expense $ 75,000
Other expenses 91,000
Total operating expenses $ 166,000
192,000
Other gains (losses)
Gain on sale of equipment 4,900
Income before taxes 196,900
Income taxes expense 60,270
Net income $ 136,630
Additional Information
A $40,000 note payable is retired at its $40,000 carrying (book) value in exchange for cash.
The only changes affecting retained earnings are net income and cash dividends paid.
New equipment is acquired for $74,000 cash.
Received cash for the sale of equipment that had cost $61,000, yielding a $4,900 gain.
Prepaid Expenses and Wages Payable relate to Other Expenses on the income statement.
All purchases and sales of inventory are on credit.
Using the income statement, the comparative balance sheet, and the additional information given above, reconstruct the entries for the summarized activity of the current fiscal year. Upon completion, the trial balance tab should agree with the June 30, 2019 balances.
1 Reconstruct the journal entry for cash receipts from customers, incorporating the change in the related balance sheet account(s), if any.
2 Reconstruct the journal entry for cash payments for inventory, incorporating the change in the related balance sheet account(s), if any.
3 Reconstruct the journal entry for depreciation expense, incorporating the change in the related balance sheet account(s), if any.
4 Reconstruct the journal entry for cash paid for operating expenses, incorporating the change in the related balance sheet account(s), if any.
5 Reconstruct the journal entry for the sale of equipment at a gain, incorporating the change in the related balance sheet account(s), if any.
6 Reconstruct the journal entry for income taxes expense, incorporating the change in the related balance sheet account(s), if any.
7 Reconstruct the entry to record the retirement of the $40,000 note payable at its $40,000 carrying (book) value in exchange for cash.
8 Reconstruct the entry for the purchase of new equipment.
9 Reconstruct the entry for the issuance of common stock.
10 Close all revenue and gain accounts to income summary.
11 Close all expense accounts to income summary.
12 Close Income Summary to Retained Earnings.
13 Reconstruct the journal entry for cash dividends paid.
Answer:
explain down
Explanation:
A specialty journal records special events or transactions related to the particular journal. There are mainly four kinds of specialty journals – Sales journal, Cash receipts journal, Purchases journal
, and Cash disbursements journal. The company can have more specialty journals depending on its needs and type of transactions, but the above four journals contain the bulk of accounting activities.
All other transactions not entered in a specialty journal account for in a General Journal. It can have the following types of transactions:
Accounts receivables
Accounts payable
Equipment
Accumulated depreciation
Expenses
Interest income
and expenses, etc.
Table of contents
What is General Journal?
General Journal Accounting
General Journal Format
General Journal Examples
Flow Process
Uses
Technological Advances
Conclusion
General Journal Video
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which of the following types of contracts is often used when the buyer wants work to begin as soon as possible, but a final agreement has not yet been reached
There are no options given; however, it is most likely that the letter contract is the most often used when the buyer wants the work to start right away but a final agreement has not yet been reached.
What is a letter contract?Letter contracts, often referred to as UCAs (undefinitized contract actions), are a way to allow a contractor to start providing goods or rendering services right away without waiting for the agreement's terms and conditions to be finalized.
One uses a letter contract when:
To enable immediate work to start, the criterion is that the supplier be provided with a legally enforceable commitment.It is difficult to negotiate a final contract in time to meet the criterion.Other contract arrangements are not suitable.Learn more about business agreement here: brainly.com/question/15193799
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Samuel was recently hired as a risk management professional for Parker Property Management. He has been asked by senior management to review the organization's current insurance policies to make sure that the organization is adequately protected, and also see if there are any opportunities to save on the premiums. Samuel must do which one of the following through internal communication before he will be able to complete this task?
Select one:
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Samuel must determine the risk tolerance of the organization through internal communication before he will be able to complete this task. So, option B. is correct.
What is an organization's risk tolerance?Risk tolerance is defined as the level of risk or uncertainty that an organization can tolerate and is a key component of an organization's risk framework. An organization's risk tolerance level is the amount of corporate data and systems that can be exposed to an acceptable level of risk.
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when the chili restaurant chain was in financial trouble, its ceo delegated the managers of each of the chain's restaurant to trim costs without sacrificing customer satisfaction. in other words, the individual restaurant managers were: made accountable given hierarchical authority given job security given task leniency made pseudo-authority figures
in other words, the individual restaurant managers were: made accountable.
In terms of ethics and governance, accountability is synonymous with answerability, blameworthiness, liability, and the requirement of accounting. It has been at the center of conversations about issues in the public sector, nonprofit, private (business), and individual contexts, just as it is in a governance-related aspect. Accountability in leadership positions refers to the acceptance and assumption of responsibility for actions, outcomes, decisions, and policies, as well as the administration, governance, and implementation of those actions within the parameters of the position or role and the duty to disclose, defend, and account for any consequences.
Accountability in governance now goes beyond the simple meaning of "being held accountable for one's conduct."
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marketing is not just advertising and selling. it includes everything that organizations do to satisfy customer needs. this includes all of the following except: question
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Marketing as an activity includes creating, communicating, delivering, and exchanging offerings that have value for customers. Some marketing is done by cells on behalf of a company. Professionals who work in a pot's marketing and creation departments seek to get the attention of crucial implicit cults through advertising.
It helps businesses to raise brand mindfulness, induce business, increase profit, and make trust in their brand. It contains colorful strategies like dispatch and direct and digital marketing.
It includes the identification of a product, determining demand, deciding on its price, and opting for distribution channels. Outsourcing refers to a business practice of hiring a party outside the company to deliver services and produce products that have earlier been done in-house by its own workers.
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