Answer:
Probably A
Explanation:
Diagrams can show the depreciating value and stuff, B could also be the answer but not as good of one as A.
A flowchart can help you decide if you should buy or lease a new car. Option (c) is correct.
What do you mean by Diagram?A diagram is a straightforward drawing that primarily comprises of lines and is used, for instance, to describe how a machine operates.
A flowchart is a diagram that shows a process' individual steps in their proper order. It is a general tool that may be customized for a wide range of uses and used to define a variety of processes, including a project plan, an administrative or service process, or a manufacturing process. There are four types of flowchart that is Document flowchart, Data flowchart, System flowchart, Program flowchart.
Therefore, Option (c) is correct. A flowchart can help you decide if you should buy or lease a new car.
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If a firm accepts Project X it will not be feasible to also accept Project Z because both projects would require the simultaneous and exclusive use of the same piece of machinery. These projects are considered to be:
The inability of a firm to accept two projects at a time due to the simultaneous and exclusive use of the same piece of machinery is considered a mutually exclusive project.
To understand this question, we must know the concept of capital budgeting.
What is capital budgeting?
Capital budgeting is the process through which a company evaluates possible large projects or investment opportunities. Capital budgeting strategies are used by business managers to assess which initiatives will generate the highest return over a certain time period.
Mutually Exclusive Projects is a concept that is commonly used in the capital budgeting process when firms pick a single project based on specific characteristics from a range of projects where approval of one project results in rejection of the other projects.
Therefore, the inability of a firm to accept two projects at a time due to the simultaneous and exclusive use of the same piece of machinery is considered a mutually exclusive project.
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The Dolly Llama Farm keeps an average of 50 of those funny creatures on hand and each consumes a pound of grain a day, 365 days per year. Grain costs $12 for a 50 pound bag and it costs the farm $10 to make a run to the feed store to pick up an order, regardless of order size. It takes the feed store four days to acquire, mix, and bag the special blend of grains necessary to make the feed the Dolly Llama Farm prefers. Storage costs for the feed runs 15% of the unit cost as the cost of money, loss due to critters, and spoilage all add up. The actual usage for grain depends on which llamas show up at feeding time, thus there is an average need for 50 pounds of grain each day with a standard deviation of five pounds. The farm is willing to tolerate a 5% chance of running out of feed before they can get some more hauled in. The llamas would prefer a 0% chance, but they don't get a vote. What reorder point achieves the farm's objectives using continuous review system?
Answer:
The right approach is "282 pounds".
Explanation:
The given values are:
Average consumption (d)
= 50 pounds a day
Lead time (L)
= 4 days
Standard deviation of lead time (sl)
= 1 day
Z value for 5% stock out risk will be:
⇒ [tex]NORMSINV(1-5 \ percent)[/tex]
⇒ [tex]1.645[/tex]
So,
Reorder point is:
⇒ [tex]d\times L + z\times d\times sl[/tex]
On substituting the values, we get
⇒ [tex]50\times 4 + 1.645\times 50\times 1[/tex]
⇒ [tex]282 \ pounds[/tex]
A machine with a cost of $145,000 and accumulated depreciation of $100,000 is sold for $57,500 cash. The amount that should be reported as a source of cash under cash flows from investing activities is:
Given sales of $100,000 a contribution margin of $40,000, and fixed expenses of $50,000, the result is a ______.
Given sales of $100,000 a contribution margin of $40,000, and fixed expenses of $50,000, the result is a $10,000 net operating loss.
What is net operating loss?
The net operating loss is when total revenue is less than direct and indirect expenses. Direct expenses in variable cost while indirect expenses is fixed cost.
The net operating loss = contribution margin - fixed costs.
$40,000 - $50,000 = $-10,000
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Total product begins to fall when Multiple Choice marginal product is maximized. average product is below zero. average product is negative. marginal product is zero.
It should be noted that total product begins to fall when D. marginal product is zero.
What is total product?It should be noted that total product simply means the total output that's made by the employees.
Total product begins to fall when the marginal product is zero. In this case, the total product has reached its maximum.
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Johnson lives near Dollywood, a popular theme park in Tennessee. Johnson decides to begin a new money-making venture selling screen printed t-shirts from a booth just down the road from the theme park, to take advantage of the traffic that flows by on its way to the park. Johnson’s t-shirts, however, will not be Dollywood-themed t-shirts; they will be Johnson’s own creations. Johnson’s daughter Susan helps him in his new venture by manning the booth from time to time, but Johnson has total control over everything about the business—from ordering the t-shirts, paying the bills, pricing the t-shirts, paying the taxes on his sales, and receiving all the profits from the venture. Even though Johnson put no thought into what kind of business venture he was creating when he started his business, Johnson has effectively created a: ________
a. corporation
b. sole proprietorship
c. franchise
d. limited liability company
The business venture created by Johnson is effectively s sole proprietorship.
What is a sole proprietorship?A sole proprietorship is a type of business venture that is owned by a single individual. A sole proprietorship has an unlimited liability. This means that when the business is unable to meet its debt obligations, the properties of the sole proprietor can be used to settle the debt.
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A regular guest requests his wife’s favorite dish a short while before the kitchens closing time. The chef informs the guest that the cook who usually makes it is not available. However, the actual reason is that making it would delay closing the kitchen. Which article of the code of ethics would this action breach?
A. abiding by the law
B. acting fairly
C. doing ones best
D. treating guests with respect
E. keeping confidence
Answer:
The answer is B. Acting Fairly. if you enter a restaurant before closing you have every right to get the food you order. a restaurant has to cook the food you request on the menu
Cody Jenkins and Lacey Tanner formed a partnership to provide landscaping services. Jenkins and Tanner shared profits and losses equally. After all the tangible assets have been adjusted to current market prices, the capital accounts of Cody Jenkins and Lacey Tanner have balances of $78,000 and $46,000, respectively. Valeria Solano has expertise with using the computer to prepare landscape designs, cost estimates, and renderings. Jenkins and Tanner deem these skills useful; thus, Solano is admitted to the partnership a 30% interest for a purchase price of $31,000.
Required:
a. Determine the recipient and amount of the partner bonus.
b. Provide the journal entry to admit Solano into the partnership.
c. Why would a bonus be paid in this situation?
Answer: See explanation
Explanation:
a. The bonus received by Solano will be:
Cody Jenkins, capital = $78,000
Lacey Tanner, capital = $46000
Solano’s contribution = $31,000
Total contribution:
= $78000 + $46000 + $31000
= $155000
Solano’s equity interest = 30%
Valeria Solano, capital:
= 30% × $155,000
= $46500
Since Solano’s contribution = $31,000, the bonus paid to Solano will be:
= $46500 - $31000
= $15500
b. Debit Cash $31,000
Debit Cody Jenkins, capital $7750
Debit Lacey Tanner, capital $7750
Credit Valeria Solano, capital $46500
c. The expertise that was offered by Salina was valued by Jenkins and Tanner. Solano can do landscape designs with the computer.
The skills she possesses will be of immense benefits to the partnership as it'll be useful to achieve the partnerships aims. This may bring about the payment of bonus for her skills.
Omega Tire Co.'s perpetual inventory records indicate that $3,145,000 of merchandise
should be on hand on August 31. The physical inventory indicates that $3,113,500 of mer-
chandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for
Omega Tire Co. for the fiscal year ended August 31.
The adjusting journal entry for the inventory shrinkage for Omega Tire Co. for the fiscal year ended August 31 is as follows:
Adjusting Journal Entry:Debit Cost of Goods Sold $31,500
Credit Inventory $31,500
What is inventory shrinkage?Inventory shrinkage is a situation where the accounting records show that the value of ending inventory is more than its value based on the physical inventory count.
Inventory shrinkage is usually caused by any of the following factors:
Employee theftShopliftingAdministrative errorsVendor fraudProduct damage.Thus, inventory shrinkage increases the cost of goods sold.
Transaction Analysis:Inventory based on the perpetual inventory records = $3,145,000
Inventory based on the physical inventory count = $3,113,500
Difference (Shrinkage in inventory) = $31,500 ($3,145,000 - $3,113,500)
Cost of Goods Sold $31,500 Inventory $31,500
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A customer, age 25, is looking to invest in securities with the objective of growth to protect against the effect of long term inflation on his portfolio's value. The customer believes that active asset management, along with its higher fees, is not worthwhile. Which recommendation is MOST suitable for this customer
Answer:
This customer is looking for long term growth, so common equities are an appropriate investment rather than long term bonds. Since the customer does not believe in active asset management, a passive approach is best - that is, an index fund that has very low ongoing fees.
Explanation:
hope this helps
If you are paid $15 per $100 sold, what is your type of payment?
a. Commission
b. Salary
c. Wage
d. Pension
Please select the best answer from the choices provided
Answer:
a. Commission
Explanation:
The commission payment system is based on an employee's output, mostly sales achieved. The commission is usually a percentage of the total sales per stipulated time, say weekly, biweekly, or monthly. In the commission-based payment, the more output an employee has, the more money they earn.
The scenario in the case is commission based. For every $100 worth of sales, the payment is $15. The more the sales, the higher the earnings.
Answer:
Its A. commision
Explanation:
Cadott has the following estimates for the upcoming year:
Activity Cost Pool Activity Rate
Machine-hours $3.60 per machine-hour
Machine setups $260 per setup
Product testing $128 per test
Cost and activity information for two of Cadott’s products is as follows:
P34 W85
Direct materials $38,000 $34,250
Direct labor $23,000 $30,500
Machine-hours 1,560 1,260
Machine setups 31 86
Tests 56 56
Number of units produced during the year 10,000 25,000
Required:
Compute the unit product cost for product W85.
Answer:
$3.95
Explanation:
To compute the unit cost of product W85, we need to determine the total product cost for product W85
= $34,250 + $30,500 + [ 1,260 × 3.6] + [86 × 260] + [56 × 128]
= $64,750 + $4,536 + $22,360 + $7,168
= $98,814
Therefore, the unit product cost for product W85
= Total product cost for product W85/Units produced during the year for product W85
= $98,814/25,000
= $3.95
A company invests $1,000 in a five-year zero-coupon bond and $4,000 in a ten-year zero-coupon bond. What is the duration of the portfolio
You are six months from graduating college and begin to think about your future. Knowing that you’ll soon be searching for a job increases your interest in the health of the economy. This is because jobs for students with your major are highly dependent on economic growth. Categorize the following hypothetical headlines as either good news or bad news.
a. Unemployment rate drops to 5.6% from 6.1%, the third straight drop in the last three months.
b. GDP comes in at $17 trillion this quarter, compared to $16.5 trillion last quarter.
c. Prices, as measured by the CPI, increased by 10% last year and it could be even higher this year.
d. GDP drops by 2% in the 3rd quarter, after growing at 5% in the 2nd quarter.
Answer:
a. Unemployment rate drops to 5.6% from 6.1%, the third straight drop in the last three months.
GOOD NEWS, a major factor that contributes to a decrease in unemployment is economic growth. Since unemployment is decreasing, you can assume that the economy is growing.
b. GDP comes in at $17 trillion this quarter, compared to $16.5 trillion last quarter.
GOODS NEWS, the economy is growing, therefore, there should be more jobs available.
c. Prices, as measured by the CPI, increased by 10% last year and it could be even higher this year.
BAD NEWS, a high inflation rate generally leads to monetary and fiscal adjustments which will cool down the economy. Even if the economy is still growing, it will soon stop doing so.
d. GDP drops by 2% in the 3rd quarter, after growing at 5% in the 2nd quarter.
BAD NEWS, the economy probably reached its zenith and once it reaches its highest point, the path is only downwards. The economy will probably soon enter a recession (or at least stop growing).
Divided Furniture Inc. has 11,000 bonds outstanding with a market price of $104 per bond. The firm also has 35,000 preferred shares outstanding and 45,000 common shares outstanding. Preferred stock and common stock are both expected to pay a year-end dividend of $2.20 per share. The current price per share of common stock is $36 per share. Preferred stock is priced at $52 per share. Preferred dividends do not grow and common stock dividends are expected to grow at a rate of 4 percent. The firm's tax rate is 40 percent. If the yield on the firm's bonds is 8%, what is the firm's weighted average cost of capital?
Answer:
Market Value of equity = Price of equity*Number of shares outstanding
Market Value of equity = 36*45000
Market Value of equity = 1620000
Market Value of Bond = Par value*bonds outstanding*%age of par
Market Value of Bond = 100*11000*1.04
Market Value of Bond = 1144000
Market Value of Bond of Preferred equity=Price*Number of shares outstanding
Market Value of Bond of Preferred equity=52*35000
Market Value of Bond of Preferred equity = 1820000
Market Value of firm = Market Value of Equity + Market Value of Bond+ Market Value of Preferred equity
Market Value of firm = 1620000+1144000+1820000
Market Value of firm = 4584000
Weight of equity = Market Value of Equity/Market Value of firm
Weight of equity = 1620000/4584000
Weight of equity = 0.3534
Weight of debt = Market Value of Bond/Market Value of firm
Weight of debt = 1144000/4584000
Weight of debt = 0.2496
Weight of preferred equity = Market Value of preferred equity/Market Value of firm
Weight of preferred equity = 1820000/4584000
Weight of preferred equity =0.397
Cost of equity
Price= Dividend in 1 year/(cost of equity - growth rate)
36 = 2.2/ (Cost of equity - 0.04)
Cost of equity% = 10.11
After tax cost of debt = cost of debt*(1-tax rate)
After tax cost of debt = 8*(1-0.4)
After tax cost of debt = 4.8
Cost of preferred equity
Cost of preferred equity = Preferred dividend/price*100
Cost of preferred equity = 2.2/(52)*100
Cost of preferred equity = 4.23
WACC = After tax cost of debt*W(D)+cost of equity*W(E)+Cost of preferred equity*W(PE)
WACC = 4.8*0.2496+10.11*0.3534+4.23*0.397
WACC = 6.45%
all corporate employees use social network analysis, whether it's done formally with the help of technology or informally. as a new employee in a corporate environment, what is the first step you should take to utilize the organizations social network
The first step that should be taken to utilize the organizations social network is to determine the company's goals and objectives.
What is social network?It should be noted that social network simply means the use of internet based platform to stay connected with others.
In this case, the step that should be taken to utilize the organizations social network is to determine the company's goals and objectives.
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Suppose that every product in a grocery store contains a tiny transmitter, and that sensors on your shopping cart detect your selections in order to suggest additional purchases. When you leave the store, exit scanners total up your purchases and automatically charge them to your credit card. At home, readers track what goes into and out of your pantry, updating your shopping list when stocks run low.
Required:
What questions is LEAST relevant to the ethical evaluation of the technology described above?
Answer: Does the technology lower the cost of targeting the consumers who are likely to be interested in particular products?
Explanation:
Ethical evaluation simply refers to conducts and standards which helps in the promotion of honesty, and integrity when a business is engaging with the program owners.
In this scenario, the questions that is least relevant to the ethical evaluation of the technology described above is "does the technology lower the cost of targeting the consumers who are likely to be interested in particular products?
The ethical evaluation isn't discussed here but rather cost minimization is being discussed.
You've selected the product strategies for the shake, you need to decide on a pricing strategy. The meal replacement market is very crowded with competitors. Therefore, In Fine Fettle must consider the competition's prices when setting the price for its new product. A market analysis reveals that most ready-made meal replacement shakes sell for between $2 and $4 per shake. Keep your target market and product decisions in mind as you consider your pricing options.
a. Above-market: In Fine Fettle will offer its turmeric shake for $4.50 per shake, which is above the market average.
b. Below-market: In Fine Fettle will offer its turmeric shake for $1.50 per shake, which is below the market average.
c. At-market: In Fine Fettle will offer its turmeric shake for $3.00 per shake, which is at the market average.
Answer:
Throughout the interpretation category following the table, the specification of the statement is characterized.
Explanation:
Pricing techniques usually have included the 5 strategies options that follow:
Cost-plus pricing: Applying a mark-up while measuring prices. Competitive pricing: Premium depends on what's paid by the market. Value-based pricing: Consumer perception-based price. Price skimming: Setting as well as reducing a high price as when the economy progresses. Penetration pricing: Requiring a minimum price and increasing it later to reach a lucrative market.I advocate value-based pricing though it ensures a permanent competitive edge. The following approach was given by Eric Dolansky to conclude at a value-based amount.
Choose a commodity that is similar to yours and figure out what the consumer pays for it. Figure all the reasons your commodity is different from either the competing product. Put on all these discrepancies a relative benefit, apply something good about your brand as well as remove the disadvantages then reach up with a possible price. Make sure the profit is better than the expenses again for the consumer.
It's indeed important, furthermore, to present and inform clients about the nature of certain goods. You will then sell the item well above the average industry. It is important to maintain a marketing approach emphasizing the performance of the system on which consumers can pay discounts over the retail price. If the target consumer doesn't quite relate to this demand accordingly, then the commodity should be tailored to meet the consumer.
Department J had no work in process at the beginning of the period. 18,000 units were completed during the period, and 2,000 units were 30% completed at the end of the period. The following manufacturing costs were debited to the departmental work in process account during the period (assume the company uses FIFO and rounds cost per unit to two decimal places): Direct materials (20,000 at $5) $100,000 Direct labor 142,300 Factory overhead 57,200 Assuming that all direct materials are placed in process at the beginning of production, what is the total cost of the departmental work in process inventory at the end of the period
Answer: $283,140
Explanation:
The total cost of the departmental work in process inventory at the end of the period is $283,140.
The work in progress (WIP) was calculated as:
= 2000 × 30%
= 2000 × 0.3
= 600
Check the attachment for further explanation.
Troglodyte University uses activity-based costing to assign indirect costs to academic departments, using three activities. The activity base, budgeted activity cost, and estimated activity-base usage for each activity are identified as follows: Activity Activity Base Budgeted Activity Cost Activity-Base Usage Facilities Square feet $800,000 80,000 square feet Instruction Number of course sections 1,200,000 600 sections Student services Number of students 290,000 2,500 students The activity-base usage associated with the Archaeology and Geology departments is as follows: Department Facilities Instruction Student Services Archaeology 8,000 square feet 8 sections 150 students Geology 5,200 square feet 15 sections 200 students a. Determine the activity rate for each activity. Activity Activity Rate Facilities $ per sq. ft. Instruction $ per section Student services $ per student b. Determine the total activity cost for the Archaeology Department. Total activity cost $
Answer:
USD 113 400 total
Explanation
I)
Rate of Activity:
actRate = actBudget/actBase
instruction = USD 1 200 000/600 Sections .= USD 2000/section
facilites = USD 800000/80000 Sq.Ft = USD 10/sq.ft)
student services = USD 290 000/2500 Students = USD 116/student
II)
Total = student services (150 students x USD 116/student) + Instruction (8 sections x USD 2000/section) + Facilities (8000SqFt x USD 10/sq.ft) +=
80 000 + 16 000 + 17 400 = USD 113 400
Fill in the missing amounts in each of the eight case situations below. Each case is independent of the others. (Hint: One way to find the missing amounts would be to prepare a contribution format income statement for each case, enter the known data, and then compute the missing items.)
Assume that only one product is being sold in each of the four following case situations. Input all amounts as positive values except for Net operating loss which should be indicated by a minus sign. Omit the "$" sign in your response.
Case Units Sold Sales Variable Expenses Contribution Margin Per Unit Fixed Expenses Net Operating Income Loss
1 15,000 $180,000 $120,000 $4 $50,000 $______
2 4,000 $100,000 $60,000 $10 $32,000 $8,000
3 10,000 $______ $70,000 $13 $_______ $12,000
4 $6,000 $300,000 $210,000 $15 $100,00 $(10,000)
Assume that more than one product is being sold in each of the four following case situations: Input all amounts as positive values except for Net operating loss which should be indicated by a minus sign. Omit the "$" sign in your response.
Case Sales Variable Expenses Average Contribution Margin Ratio Fixed Expenses Net Operating income (Loss)
1 $500,000 $______ 20% $______ $7,000
2 $400,000 $260,000 35% $100,000 $40,000
3 $______ $______ 60% $130,000 $20,000
4 $600,000 $420,000 _______% $______ $(5,000)
Answer:
Missing Amounts
Case Units Sold Sales Variable Contribution Fixed Net Operating
Expenses Margin Per Expenses Income/Loss
Unit
1 15,000 $180,000 $120,000 $4 $50,000 $_10,000_
2 4,000 $100,000 $60,000 $10 $32,000 $8,000
3 10,000 $_200,000_$70,000 $13 $_118,000_ $12,000
4 $6,000 $300,000 $210,000 $15 $100,00 $(10,000)
2.
Case Sales Variable Average Contribution Fixed Net Operating
Expenses Margin Ratio Expenses Income/Loss
1 $500,000 $_400,000_ 20% $_93,000__ $7,000
2 $400,000 $260,000 35% $100,000 $40,000
3 $_250,000_ _100,000_ 60% $130,000 $20,000
4 $600,000 $420,000 __30__% $185,000_ $(5,000)
Explanation:
Income Statement
Case 1 Case 2 Case 3 Case 4
Units Sold 15,000 4,000 10,000 6,000
Sales $180,000 $100,000 $200,000 $300,000
Variable Expenses 120,000 60,000 70,000 210,000
Contribution $60,000 $40,000 $130,000 $90,000
Contribution per
unit $4 $10 $13 $15
Fixed Expenses 50,000 32,000 118,000 100,000
Net operating
Income / Loss $10,000 $8,000 $12,000 $(10,000)
2. Income Statement
Case 1 Case 2 Case 3 Case 4
Sales $500,000 $400,000 $250,000 $600,000
Variable Expenses 400,000 260,000 100,000 420,000
Contribution $100,000 $140,000 $150,000 $180,000
Average Contribution
Margin Ratio 20% 35% 60% 30%
Fixed Expenses 93,000 100,000 130,000 185,000
Net operating
Income / Loss $7,000 $40,000 $20,000 $(5,000)
Employers place high value on strategic thinking skills in new graduates. This activity is important because strategic thinking happens at every single level of the organization and will assuredly be an unwritten part of the description of any job that you do. The goal of this exercise is to test your knowledge of the four key activities for developing your ability to think strategically.
Read the descriptions of following activities for developing strategic thinking. Then, write the key activity for developing strategic thinking that its description best represents.
a. Rex is participating in a job rotation program at his new workplace which gives him the chance to get to know as many aspects of the company as possible.
b Tripp sets aside time for work-related reflection each week. He usually spends the time organizing his to-do list for the upcoming week.
c. Paz has been an attorney for ten years and decides she can stop attending annual continuing education seminars now that she knows everything there is to know about her job.
d. Melia often purposefully plays the devil's advocate during work meetings because she thinks it's important to help her team avoid potentially costly decisions.
Answer and Explanation:
strategic thinking activities are thought processes that are geared towards achieving the goals and vision of the organization
1. Understand the business: John's thought processes are geared towards understanding the business for the purpose of making valuable contribution as one of its employees
2. Set aside time to reflect :
3. Broaden. your task and functional knowledge.
4 Engage in lateral thinking.
5) Set aside time to reflect.
6) Broaden. your task and functional knowledge.
7) engage in lateral thinking.
8) Set aside time to reflect
On April 1, 2021, John Vaughn purchased appliances from the Acme Appliance Company for $1,200. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2021. The annual interest rate implicit in this agreement is 24%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required:Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)
Answer:
Monthly Payment = $58.91560841 rounded off to $59
Explanation:
First we need to compute the Future value of $800 after 6 months at an interest rate of 24%.
We will convert the 24% annual rate into monthly rate and use the monthly compounding period to calculate the future value.
FV Factor = (1 + r)^t
FV factor = (1 + 0.24/12)^0.5*12
FV Factor = 1.126162419
FV after 6 months = 800 * 1.126162419
FV after 6 months = $900.9299354
Now we need to calculate the monthly payment for an annuity due of 18 months at a monthly rate of 2% (24% / 12) that has a present value equal to 900.9299354.
The formula for the present value of annuity due is attached.
900.9299354 = Monthly Payment * [( 1 - (1+0.02)^-18) / 0.02] * (1+0.02)
900.9299354 = Monthly Payment * 15.29187188
900.9299354 / 15.29187188 = Monthly Payment
Monthly Payment = $58.91560841 rounded off to $59
Credit Losses Based on Credit Sales Gregg Company uses the allowance method for recording its expected credit losses. It estimates credit losses at three percent of credit sales, which were $900,000 during the year. On December 31, the Accounts Receivable balance was $150,000, and the Allowance for Doubtful Accounts had a credit balance of $12,200 before adjustment. a. Prepare the adjusting entry to record the credit losses for the year b. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet. a. General Journal Date Description Debit Credit Dec.31 Answer Answer Answer Answer Answer Answer To record allowance for credit losses. b. (Do not use negative signs with your answers) Current Assets: Answer Answer Answer Answer Answer
Answer and Explanation:
a. The Journal entry is shown below:-
Bad debt expense Dr, $27,000
To Allowance for Doubtful Accounts $27,000 ($900,000 × 3%)
(To record accounts deemed to be uncollectible)
b. The presentation of Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 is shown below:-
Accounts Receivable $150,000
less:Allowance for Doubtful Accounts $39,200 ($12,200 + $27,000)
Net accounts receivable $110,800
Part A: An adjusting journal entry is an section in a company's common record that happens at the conclusion of an bookkeeping period to record any unrecognized pay or costs for the period.
Part B: An allowance for doubtful accounts is considered a “contra asset,” since it decreases the sum of an resource, in this case the accounts receivable. The allowance, some of the time called a bad debt save, speaks to management's appraise of the sum of accounts receivable that will not be paid by customers.
"Journal Entries":Part A:
The adjusting entry to record the credit losses for the year is :
Bad debt expense Dr, $27,000
To Allowance for Doubtful Accounts Cr. $27,000 ($900,000 × 3%)
(To record accounts deemed to be uncollectible)
Part B:
The Accounts Receivable and the Allowance for Doubtful Accounts on balance sheet would appear in the December 31 is :
Accounts Receivable $150,000
less: Allowance for Doubtful Accounts $39,200 ($12,200 + $27,000)
Net accounts receivable $110,800
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Your organization is floral supply company with employees in the following jurisdictions Manitoba, Prince Edward Island ,Yukon The organization is planning to implement a company wide policy with respect to vacation leave.............
Answer:
help
Explanation:
plz
To answer the next three questions, refer to the following example. In 2003, Porsche unveiled its new sports utility vehicle (SUV), the Cayenne. With a price tag of over $40,000, the Cayenne goes from zero to 62 mph in 8.5 seconds. Porsche’s decision to enter the SUV market was in response to the runaway success of other high-priced SUVs such as the Mercedes-Benz M class. Vehicles in this class had generated years of very high profits. The Cayenne certainly spiced up the market, and, in 2006, Porsche introduced the Cayenne Turbo S, which goes from zero to 60 mph in 4.8 seconds and has a top speed of 168 mph. The base price for the Cayenne Turbo in 2018?Almost $125,000
Answer:
The question is incomplete:
The analysts were concerned because not only was Porsche a late entry into the market, but also the introduction of the Cayenne might damage Porsche's reputation as a maker of high-performance automobile. In evaluating the Cayenne, would you consider the possible damage to Porsche's reputation as erosion?
In marketing, brand erosion means that customers will value the brand less and their perceived value will decrease. Luckily for Porsche, they did not listen to them. The Cayenne is by far Porsche's largest source of revenue and profits.
Porsche is a brand that most people associate with luxury sports car, and their most famous model, the 911, has barely been modified during the last 50 years. But as the SUV market increased in size, their profits profits started to shrink. Many Porsche purists despise Cayennes and Macans, but the fact is that they increased the total number of units sold way beyond anyone's expectations.
Nowadays, more people view Porsche as a luxury car manufacturer and more people want to buy their products. A small number of consumers felt disappointed, but a vast majority were pleased.
The question is about Porsche Cars and its updated versions
In 2003 Porsche unveiled a new Sports car with a mid size, this proved to be a new addition to the Porsche car series.
This car series was designed to accommodate more than 2 riders at a time and contains 5 doors. More than 10 versions have been introduced and almost all of them were successful.
An upgraded model was released in 2011 named second generation and Hybrid versions are also introduced which can really help saving the nature and being eco friendly model.
Porsche Cayenne S Diesel model have set a Guinness World Record by towing a 265 ton aircraft to a distance of 42 meters. It was an Air France Airbus A380.
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Average variable cost equals Group of answer choices average total cost minus average fixed cost. total variable cost divided by the change in output. price of the variable input times the quantity of the variable input.
Average variable cost equals:
average total cost minus average fixed cost. price of the variable input times the quantity of the variable input.What is average variable cost?Average variable cost is total variable cost divided by variable input. Variable input is the input that varies with the output. For example, labor is an example of a variable input.
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Average variable cost is equal to total variable cost divided by the change in output.
What is average variable cost?This is the total variable cost per unit of output. The average variable cost is the variable cost of a business divided by the output that the firm was able to produce.
It tells the producer about the variable cost amount for every unit of good that was produced.
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Which of the following quotes from a new-product adopter would signal the need for a firm to counteract a psychological barrier?
The psychological barrier may become an obstacle for a company to run its operations effectively.
The correct answer to the given question is :
" But it might make fat"
What is Psychological Barrier?
This quote is a psychological barrier for a company's new product, because it already states that it may cause a person to become fat.
Usually people follow healthy diet and they avoid consuming such products which make them fat.
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What types of products have an energy-efficiency rating (EER)?
Answer:
The EER rating indicates how energy efficient an HVAC unit is. The higher the EER rating is, the more energy efficient the unit will be.Explanation:
Kate is the owner of a small boutique business downtown. After looking over her business expenses and profits, she realizes that she needs to make cuts to her fixed expenses. What could she do with her fixed expenses?
In order to reduce her fixed costs, Kate would find a less expensive web designer for the store's website.
What is fixed cost?Fixed cost is a type of cost that remains constant regardless of the level of output. It does not vary with the level of output.
An example of fixed cost is the fees of a web designer. The fee would not change with the sales of the small boutique.
Here are the options to this question:
Kate would find a less expensive web designer for the store's website Kate would get bids for new business insurance providers.
Kate would look for cheaper merchandise for the store for higher profits.
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