At a volume of 25,000 inpatient days, the general hospital expects to make $3,750,000 in profit.
It doesn't change. Total fixed cost, which is constant, is the vertical distance between total variable cost and total cost at each output level. There must be $890 in revenue per inpatient day. To determine profit, we can apply the following formula: Profit is calculated as volume * fixed expenses – (price per unit – variable cost per unit). One million is equal to (income per inpatient day – 250) x 25,000 – 15,000,000. After OQ1 output is produced, AVC begins to increase; its increase above a particular range is countered by a decrease in AFC. Because of this, even while AVC increases, AC still decreases over that range of output. Because of this, the minimum point of AC (point P) appears in a later
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T/F. an undisclosed principal is one whose identity is totally unknown by an agent and a third party at the time a contract is made.
The given statement "an undisclosed principal is one whose identity is totally unknown by an agent and a third party at the time a contract is made." is true.
Contract:
In economics, contract refers the agreement between parties, creating mutual obligations that are enforceable by law.
Given,
Here we need to identify whether the given statement "an undisclosed principal is one whose identity is totally unknown by an agent and a third party at the time a contract is made." is true or false.
In order to find the liability of the statement, we must know the definition of disclosed and undisclosed principal.
Disclosed principal means principal whose identity is known by the third party at the time the contract is made by the agent whereas the undisclosed principal refers the principal whose identity is totally unknown by the third party, while the third party has no idea that the agency is acting in an agency capacity at the time the contract is made.
Therefore, the given statement is true.
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which o fthe following accurately descrbis the difference between how open market operations are used in a banking system with limited reserves compared to a banking system with ample reserves
Open market operations are the buying and selling of government securities by the Federal Reserve. And, in particular, when the Fed buys security, it pays for it by crediting the appropriate bank's reserve account at the Fed.
A federal monarchy, within the strict sense, is a federation of states with a single monarch as average head of the federation, but keeping different monarchs, or having a non-monarchical gadget of government, within the diverse states joined to the federation. The term changed into introduced into English political and historic discourse by using Edward Augustus Freeman, in his records of Federal government (1863). Freeman himself idea a federal monarchy only viable in the summary. traditionally, the maximum distinguished instance of a federal monarchy inside the Western international changed into the German Empire (1871–1918) and, to a lesser extent, its predecessors (North German Confederation and German Confederation).
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firms that are perfectly competitive will have a value of the marginal product curve. group of answer choices horizontal vertical downward-sloping upward-sloping.
C) The individual perfectly competitive firm's demand curve is horizontal, so the price stays the same.
This option is correct because the perfectly competitive firm's demand curve is horizontal. It indicates that profit is maximized when a product's marginal revenue is equal to its marginal cost, price, and average revenue. The demand curve is another name for the average revenue curve.
The market in which a product's price is determined by balancing market demand and supply is known as a perfectly competitive market. It indicates that the market equilibrium is established when two curves intersect.
With an example, what is the ideal market?A perfect market is one in which there are no anomalies that would prevent the best prices from being obtained. These are some perfect market structure examples: a lot of people who bought it. a significant number of vendors. The products are all the same.
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Full Question = The demand curve faced by the individual perfectly competitive firm is:
a. vertical.
b. upward sloping.
c. horizontal.
d. downward sloping.
westover corporation, a publicly held company with a 21% tax rate, paid its peo an annual salary of $1 million plus a year-end bonus of $500,000. the bonus was based on a targeted amount of annual gross revenue. ignoring payroll taxes, calculate the after-tax cost of this payment. multiple choice $1.5 million $1.29 million $1.185 million $0
The after-tax cost of the payment made by Westover corporation is $1.29 million. Hence, Option B is correct.
The term "after-tax cost" refers to the real expenses less a sum equal to the total federal and state income tax savings resulting from the ability to deduct the expenditures for both federal and state tax purposes in the year they are incurred.
The weighted average cost of capital (WACC) measures the average after-tax cost of capital for a company from all sources, including common stock, preferred stock, bonds, and other types of debt.
Westover Corporation, a publicly traded business with a 21% tax rate, awarded their PEO a yearly salary of $1 million plus a $500k year-end incentive. The bonus was determined by a specified amount of yearly gross income. avoiding payroll taxes.
Required calculations are:
($1.5 million - $210,000 tax savings[$1 million × 21%)])
As a result of this calculation, the after-tax cost is $1.290 million. Option B is correct.
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the porter family has two adults and three children. mrs. porter is a prominent lawyer in the state capital. her income is currently $160,000. her husband takes care of the kids. he has not worked in several years and has training as a computer programmer. since he has not stayed up-to-date with best practices in his field, he expects that he would have a hard time if he ever tried to re-enter the workforce. their youngest child is 3 years old. they have the following outstanding debts: $140,000 on their mortgage, $20,000 on cars, $1,200 on credit cards, and $50,000 on student loans
It would be beneficial for Porters to look into debt relief strategies to help them get back on track with their financial goals.
The Porters are a family of five living in the state capital. Mrs. Porter is a successful lawyer earning $160,000 a year, while her husband stays at home to take care of their three children, the youngest of whom is three years old. Since he has not worked in several years, he feels he would have difficulty re-entering the workforce due to outdated skills.
In terms of their finances, the Porters owe $140,000 in mortgage payments, $20,000 on cars, $1,200 on credit cards, and $50,000 in student loans. This adds up to a total of $211,200 in debt, which is a significant sum for the family. They are likely to be struggling to make their payments each month and to pay for other necessities like groceries and utilities. It would be beneficial for them to look into debt relief strategies to help them get back on track with their financial goals.
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Reporting operating leases as short-term leases results in a number of distortions in the ROE disaggregation analysis.
Which of the following is not a distortion?
Select one:
a. Operating income is lower.
b. Net operating asset turnover is overstated.
c. Financial leverage is understated.
d. All of the above are distortions.
Option c is Correct. Operating leases reported as short-term leases cause a number of anomalies in the ROE disaggregation analysis, but the understatement of financial leverage is not one of them.
Typically, the ratio of debt to net assets or debt to enterprise value is used to calculate financial leverage. Because corporate commitments to ongoing and future capital investments create hidden leverage that behaves like debt but does not show up on book balance sheets, these measurements typically underestimate effective leverage.
By industry standards, a financial leverage ratio of less than 1 is typically seen as favorable. Lenders and potential investors may view a firm as a dangerous investment if its financial leverage ratio is greater than 1, and it is cause for alarm if it is greater than 2.
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differential revenue is the amount of increase or decrease in revenue expected from ap articular course of action as compared with an alternative. t/f
The statement given is true. Differential revenue is the amount of increase or decrease in revenue expected from a particular course of action as compared with an alternative.
The difference in sales that will result from two alternative actions is known as differential revenue. The idea is frequently applied while choosing between two (or more) investments in a company.
You often have at least two options, if not more, to pick from when making decisions that have an impact on the operations or financial health of your business. Making decisions is made easier with the help of comparison. One such comparison is differential revenue. To determine differential revenue, sum the revenues for each option and deduct the higher income option from the lower one.
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When a buyer takes over payments on a loan without telling the lender, this is called a purchase _____________.
When a buyer takes over payments on a loan without telling the lender, this is called a purchase Subject to existing financing
A mortgage that is subject to an existing mortgage is what the term "subject to mortgage" imply. In a subject to deal, the seller does not pay off their current mortgage; rather, the new buyer assumes responsibility for paying off the seller's previous debts. Subject to mortgages are frequently misunderstood but are not as complicated as many first believed. The answer is in the name, if for no other reason than the fact that very few people actually know what a subject to mortgage is. The loan that is already in place is what the phrase "subject to" in a subject to mortgage most simply refers to.
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studies have found that firms with large investments in tangible assets tend to have: question 12 options: zero debt. the highest financial distress costs of any firm per dollar of debt. the same capital structure as firms that specialize in intangible asset investments. higher target debt-equity ratios than firms that primarily invest in intangible assets. higher financial distress costs than firms with comparable investments in intangible assets.
According to studies, companies that invest heavily in tangible assets typically have target debt-to-equity ratios that are greater than those that invest predominantly in intangible assets.
A word used in accounting for assets and property that could be difficult to convert into cash is "tangible asset." Typically, tangible assets are tangible objects, such as real estate, machinery, and structures.
Anything valuable that isn't tangibly present, such as trademarks, domain names, and brand owners in your business's reputation, is known as an intangible asset.
Large investments indicate a company's instability, inability to deliver goods, or debt, which results in higher target debt-to-equity ratios than businesses that invest mostly in intangible assets.
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theanswer method of the element interface returns true if the element has the attribute that's specified in the parameter.
The attribute method of the element interface returns true if the element has the attribute that's specified in the parameter.
A specification that describes a property of an object, element, or file is known as an attribute in computing. Additionally, it has the ability to set or refer to a value for a particular instance of such. Attributes should actually be thought of as metadata. An attribute is frequently and generally a property of a thing. However, the term attribute can and commonly is considered equivalent to a property depending on the technology being discussed.
The attribute method is a method of the Element interface in the document object model that is used to determine if an element has a specified attribute. It takes a single parameter, which is the name of the attribute that a user wants to check for.
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Based on the industry-low, industry-average,and industry-high values for the benchmarking data on pp. 6-7 of each issue of the FIR, which one of the following is the most valid signal that one or more elements of a company's costs are too high relative to those of rival companies? The company's distribution and warehouse expenses per branded pair sold in North America are only $1.20 below the industry-average benchmark The company's marketing expenses per branded pair sold are above the industry-average in the Latin America region The company's total compensation package for production workers is about $2,000 above the industry-average benchmark in those geographic regions where the company has production operations The company's operating profit per branded pair sold is $0.50 above the industry-average benchmark in the Asia-Pacific region The company's worker productivity is about 350 pairs/worker/year below the industry- average in the Asia-Pacific region Copying, redistributinn or wrmhoite
The most reliable indication that one or more aspects of a company's costs are excessively high in comparison to those of competitors is (C) The company's total compensation package for production workers is about $2,000 above the industry-average benchmark in those geographic regions where the company has production operations
Benchmarking is the process of comparing a company or a part of a company to a standard in order to measure and evaluate performance in a business setting. Such a standard is typically developed by concentrating on the industry as a whole or on certain competitors who best represent the industry's competitiveness.
Option C shows a greater comparative cost compared to the industry competitors, which implies that the company has been underperforming in terms of containing the costs it incurs in comparison to the competition. When compared to the competition, the differences between other solutions' prices are not sufficiently large to justify them.
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Mila managed a project to develop a website for a restaurant.Which description below is an assumption, as opposed to a requirement?a. The restaurant owner thought customers would prefer using a website over a mobile app.b. The restaurant owner wants customers to make reservations via telephone.c. The restaurant owner wants a professional photographer to take pictures of his signature dishes.d. The restaurant owner needs the head chef to include a professional bio.
The concept mentioned is about Consumer preferences. The answer is option A.
The description for the proprietor's supposition is, the restaurant proprietor allowed clients would prefer using a website over a mobile app.
A consumer is a person or a group who intends to order or uses bought goods, products, or services primarily for particular, social, family, ménage, and analogous requirements, and who isn't directly related to entrepreneurial or business conditioning. The term most generally refers to a person who purchases goods and services for a particular use.
Consumer preference refers to consumers' choices to maximize their satisfaction. Consumers have some degree of control over the type of goods they buy, but they can not always choose what they want. Consumer preference is a proposition that has been around for decades.
Consumer preferences have three hypotheticals-satiation, absoluteness, and transitivity. In the world of marketing, hypotheticals are made all the time.
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William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2022 AGI before the IRA contribution deduction is $69,000 (all earned income).Note: Leave no answers blank. Enter zero if applicable.b. If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2022?c. Assume he does participate in an employer-sponsored plan, and his AGI before the IRA contribution deduction is $79,000. What is the maximum deductible IRA contribution William can make in 2022?
b.If William does participate in an employer-sponsored plan, the maximum deductible IRA contribution he can make in 2022 is $6,000.
c. If William's AGI before the IRA contribution deduction is $79,000 and he does participate in an employer-sponsored plan, the maximum deductible IRA contribution he can make in 2022 is $5,000.
You can save money for retirement tax advantageously with an individual retirement account (IRA). An IRA is a financial institution-created account that enables someone to save for retirement while earning tax-free growth or on a tax-deferred basis.
These amounts may be subject to income limits and phase-out ranges. It is important to consult with a financial professional or refer to IRS guidelines to determine the exact amount of deductible IRA contribution that is allowed.
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following the model of example 9.6.2, represent each way of distributing the inventory as a string of 7 correct: your answer is correct. vertical bars and 31 correct: your answer is correct. crosses, with the types of batteries corresponding to the spaces around the vertical bars and the batteries corresponding to the crosses. it follows that the number of ways the total inventory can be distributed is 48903492 incorrect: your answer is incorrect. .
The correct answer is: This string of 7 vertical bars and 31 crosses represents the inventory distribution with 7 types of batteries (represented by the vertical bars) and 31 batteries (represented by the crosses).
The number of ways the total inventory can be distributed is 7^31, or 2821109907456, since there are 7 types of batteries and 31 batteries in total.
Total Inventory, as reflected on the consolidated balance sheet of WHI and its Consolidated Subsidiaries, refers to all Finished Lots, Work in Process (i.e., Units under construction, Model Units, Spec Units, and Sold Inventory), and Land Under Development.
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If a time series has a growth rate that increases to higher rates over time, it can be described as having .
In a book he wrote in 1798, Malthus asserted that populations expand quickly in the presence of unrestricted natural resources, but that as these are used up, population growth slows. Exponential expansion is the term used to describe this rapid pattern of population growth.
What does the growth curve go by whose name best captures the pace of change over time?When a population is growing exponentially, its growth rate gradually rises in line with its size.
What do you call a growing rate?A process called exponential growth sees a rise in quantity over time. When a quantity's derivative, or instantaneous rate of change with respect to time, is proportionate to the quantity itself, this phenomenon takes place.
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during the closing phase, the project manager's challenge is to keep the project team focused on the remaining project activities and delivery to the customer until the project is complete.
The above statement is "during the closing phase, the project manager's challenge is to keep the project team focused on the remaining project activities and delivery to the customer until the project is complete" is true.
The term “project manager” refers to an expert in the field. In any endeavor with a defined scope, a defined start and a defined end, regardless of the industry, the project manager is responsible for the planning, sourcing, and execution of the project.
As the project spokesperson, the project manager is the first point of contact for any difficulties or disagreements that arise between the heads of different departments in a company. This prevents the matter from escalating and involving higher-level authorities. A project manager's job is to manage projects.
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___________ involves misleading a consumer into thinking that a product or service is more environmentally friendly than it really is. It can range from making environmental claims that are required by law and are therefore irrelevant (CFC-free) to puffery, or exaggerating environmental claims, to fraud.
a. Sustainability
b. Genetic modification
c. Greenwashing
d. Green marketing
e. The triple-bottom line approachGreenwashing
A sort of advertising or marketing spin known as "greenwashing" (a compound word modeled after "whitewash"), also known as "green shine, is when green PR and green marketing are deceptively
employed to convince the public that an organization's products, goals, and policies are environmentally friendly. Companies that purposefully engage in greenwashing communication tactics frequently do so to separate themselves from their own or their suppliers' environmental transgressions. When a company spends much more money on "green" marketing than on ecologically friendly actions, that is an example of greenwashing. Examples of greenwashing include altering a product's name or label to invoke the outdoors.
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As the owner of a small manufacturing company that employs several workers, you are considering locating your business to a new area. One major concern you might have as an employer is _____ in the new area.
labor market conditions
labor market conditions
The supply and demand of labour, wherein employees give the supply and employers provide the demand, are referred to as the labour market. It is important to consider the labour market from both a macroeconomic and microeconomic perspective. Two crucial macroeconomic indicators are labour productivity rates and unemployment rates. The labour force population, applicant population, application pool, and the individuals chosen make up the four parts of the labour market. The labour market maintains equilibrium between the nation's economic needs for labour resources and its capacity to meet those needs. It has a self-regulation mechanism that, in theory, applies to all markets. The three main components of this process are price, supply, and demand.
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question 12 scenario 2, continued the community garden grand opening was a success. in addition to the 55 donors food justice rock springs invited, 20 other prospects attended the event. now, tayen wants to know more about the donations that came in from new prospects compared to the original donors. this sql query can be used to identify the percentage of contributions from prospects compared to total donors
Prospective customers make up 36% of the total contribution. Comparison of two quantities, with the second amount being rebased to 100, is the fundamental task of percentage.
Given: The official launch of the communal garden went well. 20 prospects attended the event in addition to the 55 donors food justice rock springs who were invited. Now that the gifts from new prospects have surpassed those from the initial contributors, Taye is interested in learning more about them.
Here, we must determine the prospects' share of the contribution.
The right question to ask in order to determine the proportion of donations from prospects is,
(Total Donors / Total Prospects * 100)
We discovered that, upon examining the provided question
20 total prospects
55 donors total
The contribution proportion is thus,
=> (20/55) x 100
=> 0.36 x 100
=> 36 percent
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michigan state figurine inc. (msf) sells crystal figurines to spartan fans. msf buys the figurines from a manufacturer for $14 per unit. they send orders electronically to the manufacturer, costing $25 per order and they experience an average lead time of nine days for each order to arrive from the manufacturer. their inventory carrying cost is 20 percent. the average daily demand for the figurines is three units per day. they are open for business 250 days a year. answer the following questions:
74 units should the firm order each time.
A manufacturer could be a person or company that produces finished product from raw materials by victimization numerous tools, equipment, and processes, then sells the products to shoppers, wholesalers, distributors, retailers, or to different makers for the assembly of additional advanced product
Inventory or stock refers to the products and materials that a business holds for the final word goal of selling, production or activity. Inventory management could be a discipline primarily concerning specifying the form and placement of stocked with product. Three types of inventory are raw materials, work-in-progress, and finished goods.
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michigan state figurine inc. (msf) sells crystal figurines to spartan fans. msf buys the figurines from a manufacturer for $14 per unit. they send orders electronically to the manufacturer, costing $25 per order and they experience an average lead time of nine days for each order to arrive from the manufacturer. their inventory carrying cost is 20 percent. the average daily demand for the figurines is three units per day. they are open for business 250 days a year. answer the following questions:
a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time. (Round your answer to the nearest whole number.)
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*Regulations, government policies, and requirements in host countries have a major effect on the operations of foreign companies. Which of the following does NOT reflect a typical regulation?
1.Providing low-interest loans to foreign companies
2.Implementing rules and policies that protect and prefer local companies over foreign firms
3.Placing restrictions on imports to support domestic production
4.Establishing local content requirement on goods sold inside their borders by foreign companies
5.Imposing tariffs on imported goods
4. Establishing local content requirements on goods sold inside their borders by foreign companies does NOT reflect a typical regulation.
Items are gadgets that fulfill human desires and offer utility, for example, to a consumer making a purchase of a satisfying product. A commonplace distinction is made between goods which are transferable, and services, which aren't transferable.
Goods are tangible gadgets sold to clients, at the same time as offerings are duties carried out for the gain of the recipients. Examples of goods are cars, home equipment, and garb.
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you're creating a video ad for a salon and your goal is to drive client bookings through the salon's website. which of the following call-to-actions (ctas) should you use in the ad?
a. Call now
b. Learn more
c. Check us out
d. Book now
Option (d), You want to promote online reservations for salon services in your video campaign. Use the "Book now" call-to-actions in the advertisement.
advertisement refers to the methods used to draw attention to a good or service. In order to attract consumers' attention, advertising seeks to highlight a good or service. It is often used to market a particular product or service, although there are many other applications as well, with commercial advertising being the most popular.
Through "branding," which links a product name or image with particular traits in consumers' minds, commercial advertising frequently aim to boost consumption of their goods or services. Direct-response advertising, on the other hand, is the term used to describe advertisements that aim to prompt a quick sale. Political parties, interest groups, religious institutions, and governmental bodies are examples of non-commercial organizations that promote goods and services more than consumer goods.
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World trade has assumed an importance heretofore unknown to the global community and as a result, many countries and firms have found it highly desirable to become major participants in international marketing.
TRUE
It is true that world trade has assumed an importance heretofore unknown to the global community and as a result, many countries and firms have found it highly desirable to become major participants in international marketing.
An intergovernmental body that controls and promotes global trade is the World Trade Organization (WTO). Governments use the United Nations System to create, amend, and enforce the laws that regulate international trade with effective cooperation. According to the 1994 Marrakesh Agreement, it began operating formally on January 1st, 1995, taking the place of the 1948-established General Agreement on Tariffs and Trade (GATT). The WTO is the biggest international economic organization in the world, with 164 members representing more than 98% of trade and GDP worldwide.
The WTO provides a framework for the negotiation of trade agreements, which typically aim to lower or remove tariffs, quotas, and other limitations.
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according to the fishery equation if a bank extends a loan for 3% and the inflation rate end up being 2% the blank interest rate isa. the nominal interest rate is 4.5%.
b. the real interest rate is 2%.
c. the nominal interest rate is 2%.
d. the real interest rate is -2%.
e. the nominal interest rate is 8%.
The answer is (OPTION D) the nominal interest rate is 8%. The nominal interest rate is the rate of interest that banks, debt issuers, and investment firms advertise for loans and various sorts of investments.
It is the specified interest rate that is earned or paid by the investments or lender. Therefore, if you as a borrower receive a $100 loan at a rate of 6%, you can anticipate paying an interest fee of $6. The interest rate that is quoted at a bank on any particular day is an illustration of a nominal interest rate. This is the nominal interest rate if a bank offers a car loan with an annual interest rate of 2.59%.
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Refer to the information in Exercise 7-7 to complete the following requirements.
On February 1 of the next period, the company determined that $6,800 in customer accounts was uncollectible; specifically, $900 for Oakley Co. and $5,900 for Brookes Co. Prepare the journal entry to write off those two accounts.
The organization prepares each separate customer account on behalf of the customers' accounts receivable. Stock sales, purchases, or returns are recorded in this account.
Oakley Co. and Brookers Co. to write off accounts, the organization must settle their settlement with their respective bad debt amounts as described below.
Journal Entry
Date - Details - Debit - Credit
February 1 - Allowance for Doubtful Accounts $6,800
Accounts Receivable - Oakley Co. - $900
Accounts Receivable - Brookes Co. - $5,900 in February
(to suspicious account ) in the following period, the company realized that $6,800 in customer accounts could not be collected; specifically, $900 to Oakley Co. and $5,900 to Brookes Co.
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because customs dictate appropriate business protocol, the blank stage of the personal selling process is critical in international sales.
In international sales, the preapproach stage of a personal selling process is crucial since customs regulations govern the proper business practice.
Describe custom.Import duty, tariff, import tax, or import tariff are other names for import duty. When imported products initially enter the country, import duty is assessed. A number of international organizations and treaties directly affect import taxes.
What are the primary goals of custom?Customs fees are levied on all goods sold within the country, even those that are imported, with the goal of protecting local economies. The primary purpose of taxes is to bring in revenue for the government.
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prepare the statement of cash flows of dux company for the year ended december 31, 2021. present cash flows from operating activities by the direct method.
Cash flow is a measure of how much money a business brought in or spent overall over a period of time.
Monitoring an organization's cash flow, a cash flow statement is a crucial tool for managing finances. This report is one of the three crucial ones that determine a company's performance, together with the income statement and the balance sheet.
The statement of cash flows direct method does not convert the operational section from accrual accounting to a cash basis; rather, it uses real cash inflows and outflows from the company's activities. When income is earned rather than when a customer pays, it is recorded using accrual accounting.
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At December 31, 2021, Bramble Corp. reported this information on its balance sheet.
Accounts receivable
Less: Allowance for doubtful accounts
2.
During 2022, the company had the following transactions related to receivables.
3.
$555.000
5.
36.000
Sales on account
Sales returns and allowances
Collections of accounts receivable
Write-offs of accounts receivable deemed uncollectible
Recovery of bad debts previously written off as uncollectible
$2.746.000
46,000
2,147.000
40,000
15,000
Prepare the journal entries to record each of these five transactions. Assume that no cash discounts were taken on the collections of accounts receivable. (Credit occount titles are automaticolly indented when amount is entered. Do not indent monually). 4. 5. (To reverse account previously written oft) (To record the collection of accounts receivable.)
Journal entries are made by organization or companies to manage their accounts, sales and revenue.
To record sales on account:
Debit: Accounts Receivable, $555,000
Credit: Sales, $555,000
To record sales returns and allowances:
Debit: Sales Returns and Allowances, $46,000
Credit: Accounts Receivable, $46,000
To record collections of accounts receivable:
Debit: Cash, $2,147,000
Credit: Accounts Receivable, $2,147,000
To record write-offs of accounts receivable deemed uncollectible:
Debit: Allowance for Doubtful Accounts, $40,000
Credit: Accounts Receivable, $40,000
To reverse previously written off accounts:
Debit: Accounts Receivable, $15,000
Credit: Allowance for Doubtful Accounts, $15,000
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identify which accounts would appear in a post-closing trial balance: multiple select question. supplies expense merchandise inventory rent expense equipment accounts receivable drawing
Permanent (real) accounts would appear in a post-closing trial balance
At the end of the accounting month, all temporary accounts will be closed off to zero. Therefore, the post-closing trial balance should reflect the same balance as the balance sheet because it only includes permanent accounts. The post-closing trial balance should only show the balances of permanent accounts. These post-closing T-account balances are moved to the post-closing trial balance's debit or credit column, depending on the account type. Once all accounts have been entered, add up the values in each column and make sure they add up to the same amount.
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if annual overhead costs are expected to be $800,000 and direct labor costs are expected to be $1,000,000, then if the activity base is direct labor costs: group of answer choices $1.25 is the predetermined overhead rate. for every dollar of manufacturing overhead, 80 cents of direct labor will be assigned. for every dollar of direct labor, 80 cents of manufacturing overhead will be assigned. a predetermined overhead rate cannot be determined.
The correct answer to this question is option c, that is, for every dollar of direct labor, 80 cents of manufacturing overhead will be assigned.
The question states: annual overhead costs are expected to be $800,000 and direct labor costs are expected to be $1,000,000
All costs on the income statement other than direct labor, direct supplies, and direct expenses are referred to as overhead expenses. Accounting fees, advertising, insurance, interest, legal fees, labor costs, rent, repairs, supplies, taxes, phone bills, travel expenses, and utilities are examples of overhead costs.
A component of the wage bill or payroll known as direct labor cost can be specifically and regularly ascribed to or related with the production of a good, a specific job order, or the delivery of a service.
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