The strongest reason for such a move would be to concentrate on the organization's core strengths while outsourcing less important mission-critical jobs.
What exactly is a virtual network?
C&J Construction's CEO is thinking about switching to a virtual network topology. A loose connection of businesses that is managed by a small, centralized organization is referred to as a virtual network structure. This team is in charge of assigning tasks to the suitable businesses in the network. For instance, if C & J Building's primary business was construction, it could establish connections with engineering and sales firms to outsource such tasks and concentrate on construction.
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after conducting your end of period physical inventory count, you realize that for several customer orders, the transfer of legal title to the goods in transit was not properly recognized. this situation is an example of an inventory error that will
This situation is an example of an inventory error that will Errors affect both the income statement and balance sheet.
What is inventory error?Any of the following could lead to an inventory error: Leaving out some items when physically counting inventory. During a physical inventory, some objects should be double counted. clerical mistakes when multiplying or adding inventory information.
Inventory mistakes can result in an inaccurate ending inventory balance, which has an impact on the cost of goods sold and profitability.
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debt financing multiple choice is always a better choice than equity financing because of the tax deductibility of interest expense. is only used by emerging growth companies with no access to equity capital.
Debt financing is always preferred over equity financing because of its tax deductibility in interest expense. Thus, the correct option is (a) ‘ is always a better choice than equity financing because of the tax deductibility of interest expense.
Debt financing refers to a loan taken from lenders such as banks to finance a wider range of business operations. Whereas, equity financing refers to capital secured as an exchange of a percentage of ownership in the business. Companies consider debt financing rather a better option than equity financing. It is because interest rates on debt are deductible expenses for tax purposes that makes debt financing a more cost-effective form of financing.
While the statement given in option (b) i.e 'is only used by emerging growth companies with no access to equity capital' does not pertain to the context of debt financing.
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the lanier company incurs $60,000 of annual fixed costs in manufacturing and selling a product that it sells for $15 per unit. the variable costs of manufacturing and selling the product are $9 per unit.
Lanier Company spends 60,000 annually on fixed expenditures to produce and market that it sells for $15 per unit. The product's variable for and selling each unit are $9. 10,000 units are need to break even.
A payment made in cash or on credit to buy goods or services is referred to as an expenditure. It is recorded once, at the moment of purchase, as opposed to an expense, which is reported after it has been used up or expired. In this article, we'll go through the many sorts of expenses utilised in accounting and finance.
An accountant must provide proof that a transaction actually took place in order to report an expenditure. For instance, a sales receipt will serve as evidence of an over-the-counter transaction, whereas an invoice will serve as notification that payment is required for products and services. Organizations can keep a close eye on their transactions thanks to the documentation.
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An operating cycle is the length of time it takes to convert inventory to accounts receivable plus the time it takes to convert the account receivable back to cash. This statement is.
An operating cycle refers to the length of time required to convert inventory to accounts receivable plus the time required to convert the account receivable back to cash. This statement is true.
In accounting, operating cycle refers to the time it takes an organization to receive inventory, sell the inventory, and receive the cash form the sale of the inventory. This means that the operating cycle is the measurement of how long it takes an organization to convert its inventories into cash. The operating cycles paly a vital role in determing how efficient the business is.
The operating cycle formula is as follows:
operating cycle = inventory time period + accounts receivable time period
Inventory time period is the amount of time inventory is held in storage until sold and calculated as follows:Inventory time period = 365 / inventory turnover
Accounts receivable time period is amount of time to receive cash from selling the inventory and is calculated as follows:Accounts receivable time period = 365 / receivables turnover
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The minimum wage in California is higher than required by law and should be reduced to the federal government level. Do you agree with this statement? Why or why not?
Yes, I agree with this statement that the minimum wage in California is higher than required by law and should be reduced to the federal government level.
According to federal law, a minimum wage is the lowest salary an employee may be paid per hour. Nonexempt workers may not be offered a job or agree to work for less than the legally required minimum wage level for hourly compensation.
The state minimum wage rate in California is greater than the federal minimum wage rate, and all employers in California who are subject to both laws are required to pay it unless their employees are exempt under California law.
Government officials at all levels must endeavor to raise the minimum wage in order to combat poverty, provide economic security, and benefit workers. This would disproportionately benefit women and people of color who frequently make the federal minimum wage or less.
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a production line is to be designed to make 500 el-more dolls per day. each doll requires 11 activities totaling 16 minutes of work. the factory operates 750 minutes per day. what is the required cycle time for this assembly line?
This assembly line must complete one cycle in two minutes. The proper response is c.
The cycle time measures how long it takes to accomplish a single activity, production, service, or process from beginning to end. It is the amount of time needed to create a good or provide a service, or finish a full cycle.
The information shows us the following:
Daily operational time Equals 1000 minutes of production each day.
The daily production target is 500 El-More dolls.
Therefore, we must apply the following formula to get the necessary cycle time for this manufacturing line:
Cycle time is equal to the scheduled output divided by the daily operating time.
Cycle Time = 1000/500, = 2 minutes.
This assembly line must complete one cycle in 2 minutes. (Option C)
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COMPLETE QUESTION:
A production line is to be designed to make 500 El-More dolls per day. Each doll requires 11 activities totaling 16 minutes of work. The factory operates for 1000 minutes per day. What is the required cycle time for this assembly line?
a. one-half minute.
b. one and one-half minutes.
c. two minutes.
d. 5,500 minutes.
rewrite the following sentence to reflect your audience's viewpoint. i know i am late with the asset valuation report, but i haven't been feeling well and i just haven't had the energy needed to work through the numbers yet.
I have been doing my best to complete the asset valuation report but lately, I was not feeling well. I will make sure that the report is completed within the stipulated period. I regret the inconvenience caused.
Sender must recognize the inconvenience and inform the reader of what they need to know, according to the You-attitude. The You-attitude ensures that the reader understands that the sender cares and will fix the issue or annoyance. It is important for the reader to understand what inconvenience was created and how the sender intends to fix it.The sender must have the utmost degree of empathy when using the You-attitude. Instead of dictating the conditions, the message should explain what the users may expect. The message shouldn't be blunt and impolite.You-attitude can only request or suggest; it cannot command since, at the end of the day, it gives the reader the impression that they are in charge. Additionally, You-attitude will inform readers of what is in it for them. Therefore, advantages should be included in the phrase.Learn more about Annoyance, here
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business decision primary information source 1. assess control of manufacturing costs 2. evaluate audited financial statements 3. determine whether to automate a production process 4. prepare financial reports according to gaap 5. report financial performance to shareholders 6. plan the manufacturing budget for next quarter 7. estimate product cost for a new line of shoes 8. determine what products to s
Consistency in financial reporting by governments is provided through accounting standards. GASB is the standard-setting authority of generally accepted accounting principles (GAAP) for state and local governments, including school districts.
The Governmental Accounting Requirements Board (GASB) is the supply of usually widespread accounting standards (GAAP) utilized by nation and nearby governments within the u.S. As with a maximum of the entities involved in creating GAAP inside the u.S.A., it is a non-public, non-governmental employer. The GASB is concerned about oversight via the economic Accounting basis (FAF), which selects the members of the GASB and the Financial Accounting Standards Board, and it budgets each agency. Its undertaking is to establish and improve requirements of state and local governmental accounting and financial reporting in order to bring about usage statistics for customers of economic reports and guide and teach the public, consisting of issuers, auditors, and customers of those monetary reviews.
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julia sells exotic birds. she has placed four orders with wholesale bird supplier papagayo co., and all of them have been filled with healthy birds. lately, however, some wholesale competitors have been trying to get her to order from them. but, when it's time to make the next order, she decides she's better off with papagayo because she's pretty sure she'll get healthy birds. (do not assume that you know anything about birds or the bird business.) the premise-analogue in the passage is
According to Julia, all of the birds in the Papago County area seem to be in good condition. Hence her argument is stronger
This is further explained below.
What is premise-analog?Generally, For the statement "Julia sells exotic birds. she has placed four orders with wholesale bird supplier Papagayo co., and all of them have been filled with healthy birds. lately, however, some wholesale competitors have been trying to get her to order from them.
But, when it's time to make the next order, she decides she's better off with Papagayo because she's pretty sure she'll get healthy birds. (do not assume that you know anything about birds or the bird business.)" the premise-analog in the passage is Stronger
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in order to determine cash flows from operating activities, firms may use the method in which net income represents the starting point and then adjustments are made to convert net income to cash flows from operations.
Firms may utilise the approach where net income is the starting point and modifications are made to turn net income into cash flows from operations in order to calculate cash flows from operating activities.
The first line of the cash flow statement is a carryover from the income statement called net income. Net income plus adjustments for non-cash expenses and working capital movements are added to determine net cash flow from operational operations.
The amount of money a firm earns from ongoing, regular business operations, such as the production and sale of items or the provision of services to clients, is known as cash flow from operating activities (CFO). On a company's cash flow statement, it is shown as the first part.
Long-term capital investments and investment income and expense are not included in cash flow from operating activities. Operational cash flow (OCF), also known as net cash from operating activities (NCOA), is the term for the CFO, who primarily concentrates on the core business.
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rodgers company gathered the following reconciling information in preparing its may bank reconciliation. calculate the adjusted cash balance per books on may 31. cash balance per books, 5/31$3,443 deposits in transit279 notes receivable and interest collected by bank771 bank charge for check printing29 outstanding checks1,219 nsf check190 a.$3,995 b.$1,050 c.$2,503 d.$3,084
If rodgers company has cash balance per books, 5/31$3,443 deposits in transit279 notes receivable and interest collected by bank771 bank charge for check printing29 outstanding checks1,219 nsf check190 , The adjusted cash balance per books on may 31 is: a.$3,995.
Adjusted cash balanceWe would be making use of this formula to find the adjusted cash balance
Adjusted cash balance per books = Cash balance as per books + Interest received from the bank − Bank service charge − NSF
Where:
Cash balance as per books = $ 3443
Interest received from the bank = $ 771
Bank service charge = $ 29
NSF = $190
Let plug in the formula
Adjusted cash balance per books = $3,443 + $771 − $29 − $190
Adjusted cash balance per books = $3,995
Therefore we can conclude that the correct option is A.
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as of 2015, the citizens of zimbabwe had an average life expectancy of 61 years. a sudden increase in the quality of health care across the country, due to large donations from international non-governmental organizations, has increased the projected life expectancy to 75 years. now, zimbabwe citizens will live longer after retirement, which they need to prepare for financially. how would this change in life expectancy affect the market for loanable funds in zimbabwe?
When there may be any alternate in lifestyle expectancy so is a boom in the supply of Loanable finances.
Deliver is the amount of product that an employer can offer to customers at a selected price. Demand is the client's preference to buy the product at that charge. Deliver and demand work collectively to create a balanced and competitive marketplace.
A supply of products consists of the following: the switch of possession of goods by using settlement. The sale of movable goods on a fee basis via an auctioneer or agent appearing in his or her personal name however on the commands of every other person. The delivery of goods below a hire-purchase contract.
Therefore, an green supply chain facilitates reduced delays, which is critical for keeping economic efficiency and efficacy. It without delay improves your bottom line by way of expediting product delivery and minimizing the cost concerned according to the purchaser and provides your competitive benefit.
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when she traveled to australia on business recently, cori assumed the weather would be the same as her home in new york. she soon found out it was winter in australia.
The bias represented in the above case or scenario is called availability bias. See further explanation below.
What is availability bias?The availability bias is the human inclination to believe that instances that spring to mind quickly are more typical than they actually are. The psychological phenomenon is merely one of several cognitive biases that impair critical thinking and, as a result, the legitimacy of our conclusions.
The availability bias is caused by a cognitive convenience known as the availability heuristic, which is characterized as relying on what we quickly think of to make rapid decisions and judgments. This dependence allows us to avoid time-consuming fact-checking and analysis, but it also raises the risk that our conclusions will be wrong.
Naturally, the most memorable things are the ones that come to mind first. However, there are many factors that affect how well we remember things. For example, we tend to remember things we have observed ourselves rather than things we have only heard about. So, for example, if we personally know that there are several startups and they are all successful, we may overestimate the percentage of successful startups, even if we read contrary statistics.
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Full Question:
When she traveled to Australia on business recently, Cori assumed the weather would be the same as her home in New York. She soon found out it was winter in Australia. Which bias does this represent?
"robert inherited lots of antique tools when his father died. because robert is not interested in woodworking, he decides to sell several of the tools. robert agrees to sell an antique hand-held wood planer to geoffrey for $50. after agreeing to the deal, robert discovers that the planer is a pre-wwii norris jointer planer worth over $5,000, and refuses to sell the planer to geoffrey. can geoffrey enforce the deal?"
Yes we would have to say that based on the question, that Geoffrey would be able to enforce the deal that is made here.
Why would Geoffrey be able to enforce the deal?The reason why it is going to be possible for Geoffrey to enforce the deal that is being made here is due to the fact that the deal was made with valid consideration at the time that the contract was made.
Now what is needed for a consideration to be genuine would be the presence of a promise. This is available here. One side has to be able to make the commitment so that the other side would have to exchange with their promise.
The consideration that has being made here is one that is considered to be a legitimate consideration hence we can say that Geoffrey is going to have to be able to enforce the contract that is ongoing here.
Hence the answer to the question would be yes he can.
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What type of decision-support system analysis attempts to predict the impact of changes in the assumptions, that is, the input data, on the proposed solution?.
What-if analysis of decision-support systems aims to foresee the effects of adjustments to the assumptions, or the input data, on the suggested answer.
A decision support system (DSS) is an information system that helps a corporation make decisions that call for discretion, analysis, and a plan of action. An organization's mid- and high-level management benefits from the information system's analysis of massive amounts of unstructured data and collection of data that can aid in input data problem-solving and decision-making. A DSS can be automated, run by people, or use a combination of both.
By collecting and input data, a decision support system generates comprehensive information reports. A decision-support systems hence differs from a conventional operations application, whose objective is to gather data rather than analyze it.
A decision-support systems is used by planning departments in an organization, like the operations department, to gather data and provide reports that management can utilize to make decisions. A DSS is primarily used for sales projection, for data on inventory and operations, and to deliver information to clients in an understandable way.
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margie negligently drives her car into nancy who is crossing against the light. nancy sustains damages in the amount of $10,000 and sues margie. the jury determines that margie's negligence contributed 75% to nancy's injury and that nancy's negligence contributed 25% to her injury. under the doctrine of comparative negligence, nancy can recover:
Under the doctrine of comparative negligence, Nancy can recover $7500 if Margie's negligence contributed 75% to Nancy's injury.
According to the doctrine of comparative negligence, the amount of damages of the injury that will be paid by each party will be equal to their negligence in that injury being caused.
As the jury determined that Margie's negligence contributed 75% to Nancy's injury and Nancy's negligence contributed 25%, therefore Nancy can recover the amount that will be paid by Margie.
As Margie contributed 75%, therefore the amount to be paid by Margie out of $10,000 is calculated as follows;
(75/100) × $10,000 = 0.75 × $10,000 = $7500
Therefore Nancy can recover $7500 from the total damage of $10,000
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true or false: the audit team is only required to communicate significant deficiencies and material weaknesses in internal control that come to their attention during the performance of a pcaob audit for an issuer.
It is untrue that the audit team is only required to disclose serious gaps in internal control and significant defects that they discover while conducting a PCAOB audit for an issuer.
Every time an audit team is conducted within a company, an audit team is present. A lead auditor, auditor, trainee auditor, technical expert, observer, guide, and client make up this group. All of these people defects might not be required for an internal audit, but a few people could fill in for some of them.
Despite the fact that there are many different sorts of audits, including internal, second-party, and third-party audits, there will always be defects an audit team to ensure the success of that audit.
The lead auditor has a lot of responsibilities because it is up to him to decide how the audit will end. The lead audit team must have managerial skills and audit process experience, nevertheless.
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two logistics students, mark and sarah are discussing supply chain logistics activities. mark says that stocking is the process of sourcing and building product inventory to established targets based on customer needs. sarah says that receiving includes the physical receipt of material, identifying and inspecting incoming goods and dispatching items to the correct location. which student - mark or sarah - is correct?
Here Sarah is correct as her example of tuck being a transporter is true in a supply chain.
A supply chain is a group of people and businesses responsible for producing a product and getting it to the consumer. A supply chain is the network of all the people, businesses, resources, tasks, and technological advancements involved in the production and distribution of a good.
The distribution channel refers to the portion of the supply chain that transports the final good from the supplier to the consumer. A speedier production cycle and cheaper costs are the results of effective supply chain management.
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41) which metric is based on the relationship between the revenue produced by a specific customer, the expenses incurred in acquiring and servicing that customer, and the expected life of the relationship between the customer and the company? a) churn rate b) customer lifetime value c) cost per lead d) cost per sale e) customer average value
B. Customer lifetime value (CLTV) is the metric based on the relationship between the customer and the company.
Customer lifetime value (CLV) is a commercial indicator that assesses the average customer's potential earnings over the term of the relationship. Calculations of client lifetime value can be complicated by variations in items, prices, purchase frequency, and volume.
Because it is directly connected to income instead of an essentially intangible promise of loyalty and contentment, CLV differs from the Net Promoter Score (NPS), which evaluates customer loyalty, and CSAT, which measures customer pleasure.
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it is argued that a coherent view of management must focus on three issues. what is one of these issues? fixing management-level problems. pleasing organizational superiors. shaping managerial identity. establishing organizational vision.
Fixing management-level problems is one of these issues.
Five common management demanding situations (and how to overcome Them)
communicate. clear up war. manipulate performance. handle blanketed employees. Administer rules pretty and continually.Management issues mean any remember requiring movement, research, and/or decision by means of the agency, including, however now not limited to, the employer's induction procedure; performance troubles; award of bills and blessings; periods of annual, sick, or different depart; absence of the Intern; proceedings; disciplinary tactics.
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in the united states, each state government can impose its own excise tax on the sale of cigarettes. suppose that in the state of north texarkana, the state government imposes a tax of $2.00 per pack sold within the state. in contrast, the neighboring state of south texarkana imposes an excise tax on cigarettes. assume that in both states the pre-tax price of a pack of cigarettes is $2.00. assume that the total cost to a resident of north texarkana to smuggle a pack of cigarettes from south texarkana is $3.50 per pack. (this includes the cost of time, gasoline, and so on.) assume that the tax is levied on the supplier.
No it does not make sense to smuggle a pack of cigarettes given that the total cost is lower with Texarkana.
What is the the supply situation that we have here?The question tells us about the pretax price that is 2 dollars. Then we have a supply curve that would be at equilibrium at the point that is called F. This price at equilibrium is at the point of 3 dollars.
But he cost of smuggling is setting at 3.50 dollars. Hence we would see that it is not a profitable thing to do since the cigarette price is seen to be lower than that of the smuggled one.
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Complete question
b. Does it make sense to for someone to smuggle a pack of cigarettes from South Texarkana to North Texarkana?
because the new equilibrium price in North
Yes
No
higher
lower
than the total cost of
th Texarkana.
firms can engage in , which is the process of planning, implementing, and controlling the efficient, cost-effective flow and storage of goods and materials from the point of origin to the point of consumption for the purpose of alleviating the suffering of vulnerable people.
Firms can engage in Humanitarian logistics, which is the process of planning, implementing, and controlling the efficient.
A subset of logistics called humanitarian logistics deals with the phases of catastrophe management systems' preparedness and reaction. Humanitarian logistics is the process of organizing, carrying out, and supervising the efficient, economical movement and storage of commodities and supplies, as well as associated information, from the point of origin to the site of consumption with the aim of easing the suffering of the weak. The role includes a variety of tasks, such as planning, purchasing, shipping, warehousing, monitoring and tracing, and customs clearance. For aid operations and programs to be successful and swift, humanitarian logistics are essential.
In actuality, it can be said that managing humanitarian logistics systems differs greatly from managing their commercial equivalents.
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electronics international has experienced a significant decline in sales for sweettunes, its mp3 player, during the past two years. in response, the company has reduced its advertising and sales expenditures for sweettunes in an attempt to improve short-run profits. which term best describes electronics international's strategy for sweettunes?
The term that describes the best electronics international's strategy for sweet tunes is product harvesting.
A marketing and business plan known as a "harvest strategy" is reducing or stopping investments in a product, product line, or line of business in order for the parties involved to reap—or, harvest—the greatest profits. Towards the end of a product's life cycle, a harvest strategy is often used when it is assessed that additional investment would no longer increase product income.
Products have life cycles, and when a product is getting close to the end of its life cycle, extra investments and marketing efforts are typically not beneficial. When an asset has been paid off and no additional investment is necessary, it enters the stage known as the "cash cow."
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in a small town, there is only one factory where residents can find jobs. all of the residents belong to a labor union, which negotiates on their behalf as a single supplier of labor. this situation is best characterized as a
Negotiating collectively is the Term. During collective bargaining, union officials bargain with business management to secure improved includes bettering benefits, working conditions, and remuneration.
Collectively negotiating
Through collective bargaining, labor unions deal with the employers of their members to improve their working circumstances, including benefits, pay, the amount of hours worked, equipment to make their jobs easier, and specific aids or protections, among other things. When employees are denied the right to organize and engage in collective bargaining, it may result in strikes, unrest, or other types of industrial conflict or interruption, which halts the effectiveness and efficiency of the business. Collective bargaining ensures equality and fair conditions for both the employees and the employers, as well as protecting the flow of commerce.
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assume the 2021 ending inventory of shea’s shrimp shack was understated by $10,000. how would this error affect the amounts reported for cost of goods sold and gross profit for 2021 and 2022.
Understated ending inventory will result in increase in cost of goes sold 2021 by 10000 therefore the gross profit will be decreased by 10000. Further in 2022 the opening inventory will be understated 10000hence impact of cost of goods sold is COGS 2022 decreased by 10000 and gross profit 2022 increased by 10000
2021 2022
Cost of goods sold 10000 (Increase) -10000 (Decrease)
Gross profit -10000 (Decrease) 10000 (Increase)
Inventory refers to all of the items, items, merchandise, and substances held through a commercial enterprise for promoting withinside the marketplace to earn a profit. Example: If a newspaper dealer makes use of an automobile to supply newspapers to the customers, simplest the newspaper may be taken into consideration inventory.
While there are numerous varieties of inventory, the 4 important ones are uncooked substances and components, paintings in progress, completed items and maintenance, restore and working supplies.
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nk each of the following three gift possibilities in terms of how much utility they are likely to generate (with 1 being the highest and 3 being the lowest):
The rank of the three gift possibilities in terms of how much utility they are likely to bring is:
1) A $15 cash that can be spent anywhere
2) A store-specific gift card worth $15
3) A $15 item from a specific store
Utility is a term used in economics that refers to the total satisfaction received from consuming goods or services. Economic theories based on rational choice usually assume that consumers will seek to maximize their utility. Consumer satisfaction with goods or services is important to understand, because it directly affects demand.
Not only that, prices, goods, or services can also be affected by the level of demand for an item or service. Therefore we can conclude that, the higher the level of utility of a good or service, the more desired the goods or services by consumers.
The level of customer satisfaction is often considered unmeasurable in the practice. It is because some economists believe that they can indirectly estimate what economic goods or services will be used for by using various models.
Rank each of the following three gift possibilities in terms of how much utility they are likely to bring (with 1 being the highest and 3 being the lowest):
Rank the options below.
- A store-specific gift card worth $15
- A $15 cash that can be spent anywhere
- A $15 item from a specific store
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you are considering adding a new security to your portfolio. to decide whether you should add the security, you need to know the security's: i. expected return ii. standard deviation iii. correlation with your portfolio
If you are considering adding a new security to your portfolio, you should add the expected return, standard deviation and correlation with your portfolio.
What is the purpose of adding different securities in a portfolio?Diversification is mostly used to reduce risk. By spreading your investments over a variety of asset classes, industries, or maturities, you reduce your risk of experiencing market shocks that equally impact all of your investments.
How does it differs from each other?The expected return shows the potential amount of returns that a portfolio may produce, whereas the standard deviation of a portfolio measures how much the returns deviate from the mean. The standard deviation of the portfolio is decreased by securities that have a positive correlation.
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Note that common contexts are listed toward the top, and less common contexts are listed toward the bottom. according to o*net, what are common work contexts for actors? check all that apply. physical proximity face-to-face discussions deal with physically aggressive people exposed to hazardous equipment contact with others work with group or team
Physical proximity, face-to-face discussions, contact with others and work with group or team are common work contexts for actors, according to o*net.
Common work contexts for actors, according to o*net are as follows-Working with a group or team is crucial. This job necessitates the worker performing job tasks in a close physical proximity to others.
In order to perform this job, the worker must be in touch with others (face-to-face, by phone, or otherwise). This job necessitates the worker meeting strict deadlines. In this job, you must have face-to-face discussions to individuals or groups.
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Answer:
1 2 5 6
Explanation:
trust
jane sends candy to the troops overseas. when jane's income rises by 3 percent, her quantity demanded of candy increases by 5 percent. for jane, the income elasticity of demand for candy is
The income elasticity of demand for candy is 1.67 for Jane if a 3 percent rise in her income increases her quantity demand by 5 percent.
The income elasticity of demand is a term used to describe a measure of the relationship between the consumer's income and the demand for a certain good which in this case is candy.
The income elasticity of demand can be calculated by using the following formula;
income elasticity of demand = percentage change in quantity demand of a product ÷ percentage change in earnings
Substituting the given value in this formula to determine the income elasticity of demand for candy;
income elasticity of demand = 5 ÷ 3
income elasticity of demand = 1.67
Hence, the income elasticity of demand for candy is calculated to be 1.67
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The adjusted trial balance columns of a work sheet for planta company follow. Complete the work sheet by extending the account balances into the appropriate financial statement columns and by entering the amount of net income for the reporting period. True or false?.
Extending the account balances into the appropriate columns in the financial statement worksheet produced a net income of $37,000 for the reporting period. It is true.
What is the financial statement worksheet?A financial statement worksheet is an accounting tool for producing financial statements, especially the income statement and the balance sheet.
From the worksheet, the net income or loss can be computed.
Planta Company
Financial Statements WorksheetWorksheet Adjusted Trial Balance Income Statement Balance Sheet
No. Account Title Dr. Cr. Dr. Cr. Dr. Cr.
101 Cash $8,000 $8,000
106 Accounts
Receivable 15,000 15,000
153 Trucks 45,000 45,000
154 Accumulated Depr. Trucks $18,000 $18,000
183 Land 12,000 12,000
201 Accounts Payable 9,000 9,000
209 Salaries payable 4,000 4,000
233 Unearned fees 1,000 1,000
301 F. Planta, Capital 19,000 19,000
302 F. Planta, Withdrawals 8,000 8,000
611 Plumbing fees earned 95,000 $95,000
401 Depreciation
expense- Trucks 9,000 $9,000
622 Salaries expense 28,000 28,000
640 Rent expense 12,000 12,000
677 Misc. expenses 9,000 9,000
Total $146,000 $146,000 $58,000 $95,000
Net Income $37,000 37,000
Totals $88,000 $88,000
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Question Completion:Planta Company
Adjusted Trial BalanceWorksheet Adjusted Trial Balance Income Statement Balance Sheet
No. Account Title Dr. Cr. Dr. Cr. Dr. Cr.
101 Cash $8,000
106 Accounts
Receivable 15,000
153 Trucks 45,000
154 Accumulated Depr. Trucks $18,000
183 Land 12,000
201 Accounts Payable 9,000
209 Salaries payable 4,000
233 Unearned fees 1,000
301 F. Planta, Capital 19,000
302 F. Planta, Withdrawals 8,000
611 Plumbing fees earned 95,000
401 Depreciation
expense- Trucks 9,000
622 Salaries expense 28,000
640 Rent expense 12,000
677 Misc. expenses 9,000
Tota
Net Income
Totals