Based on the purchase details by the company, the correct journal entry to record the purchase on July 5 is c) Debit Merchandise Inventory $1,800; credit Accounts Payable $1,800.
Why is this the correct journal entry?On July 5, the amount that was purchased was still $1,800. Nothing had been returned yet. The amount that will be debited to Merchandising as an asset will therefore be $1,800.
The Accounts Payable account will be credited the same amount to reflect that the company owes money for the purchase.
In conclusion, option C is correct.
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An individual who wants to earn a living from a new business endeavor has decided to start his business as a not-for-profit organization. How can he earn money under this arrangement?
A. A not-for-profit organizing can earn profits for its owner through stock sales
B. The not-for-profit classification only applies to the sales of goods, not services
C. If he later incorporates his not-for-profit business, he can keep the profits from the transition
D. A not-for-profit business is allowed to use income to pay employees a reasonable salary
Answer:An incorporated business that puts all of its profits back into the business is a corporation. They are used by those common people and it can help the others who need the money. This will secure that the funds of these corporation will be shared also into its members incase of emergency.
Answer:
D. A not-for-profit business is allowed to use income to pay employees a reasonable salary
Explanation
just did it
This morning, you received a phone call alleging you owe a debt. If you dispute this debt, you must write to the debt collector and request verification of the obligation. How many days do you have to send this letter
Since this has to do with a debt that has been disputed by you, the number of days you have to send this letter is 30 days.
How Many Days Are Required to Send a Debt Dispute Letter?Following the receipt of a phone call from a debt collector concerning a debt that has been disputed, the next action you must take is to write the debt collector a letter within 30 days after the initial contact.
After then, the debt collector must stop all collection attempts until the appropriate verification is acquired.
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When her manager asked talia if she would "lose" the invoice that came in with the extra shipment of parts because the supplier wouldn’t know any difference, talia replied "no. " her response is an example of
The action by Talia in refusing to do what the manager said is called organizational citizenship.
What is organizational citizenship?This refers to moral actions by people that go beyond the roles and obligations they are tasked with to ensure that a company is successful.
Talia refuses to lose the invoice which was beyond what the manager had told her because she wanted the supplier to be successful in its transactions with her company.
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When securing a new tenant for a commercial rental property, the owner of the property might incur an additional expense that amounts to the cost of refurbishing the rental space to meet the needs of the tenant's business. The allocation of money for this added expense is more commonly referred to as a(n):
The allocation of money for the additional expense that equates to the cost of renovating the leased space to meet the tenant's business needs is referred to as a tenant improvement allowance.
What is the Tenant Improvement Allowance?It corresponds to a previously negotiated amount of money, which will be provided by the owner to the tenant with the aim of covering all or part of the construction costs.
Therefore, a tenant improvement allowance is a resource that can be applied to all construction-related expenses related to physical improvements to the site.
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An advantage of doing company research before an interview is a. It improves the applicant's ability to market their skills b. It can increase the confidence of the applicant c. It can compensate for a lack of experience d. All of the above Please select the best answer from the choices provided Brainly
Answer:
D. All of the above
Explanation:
All the given statements are advantages of doing company research before an interview. Thus, option 'D' is the correct option.
What are the benefits of a research interview?Prior research about a potential job enables you to learn. You'll pick up useful knowledge about their company, their customers, and the market in general. Gaining expertise will therefore make you feel more at ease and confident throughout the interview. The interviewer will be able to see that you performed your research. especially if you are able to really speak with them about the position and the company.
You may get a deeper understanding of a firm by understanding its mission statement and core values. Gaining knowledge of the employer's priorities and areas of concern will enable you to better understand who they are. Simply put, conducting a study before to your interview will show that you are serious about the position.
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#SPJ5
If a customer or an employee is involved in a minor accident on the business premises, an employee is the businesses should do what
If a customer or an employee is involved in a minor accident, the case should be reported to the Health, Safety and Environmental department.
What is an Accident?An accident is an unplanned event that can lead to the injury or death of someone. It can also lead to the destruction of properties. This is an unintended, unexpected event that might have resulted from the carelessness of an individual or that might not have been caused by an individual.
If a minor accident should occur in a business premises, the case should be reported to the HSE department and appropriate actions should be taken so as to avoid a future occurrence.
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Choose the correct category for each of the following software examples. Device driver: Word processor Email program Operating system: Mouse software: Web browser: DONE
Answer:
device driver : system software
word processor: application software
email program: application software
operating system : system software
mouse software: application software
web browser : application software
Explanation:
Answer:
device driver : system software
word processor: application software
email program: application software
operating system : system software
mouse software: application software
web browser : application softwareExplanation:
Which term is defined as a program in which cities identify blighted inner-city neighborhoods, acquire the properties from private owners, relocate the residents and businesses, clear the site, build new roads and utilities, and turn the land over to private developers
Answer: The term you're looking for is called Urban Renewal.
Explanation:
Answer:
Urban Renewal.
Explanation:
took test and it is correct answer
Discovered that a sale on account to Musheer Orthopedics for $627.50 was incorrectly charged to the account of Hubbard Medical Clinic. M59
The journal entry is :
Debit Hubbard Medical Clinic $627.50 and Credit Musheer Orthopedics $627.50
What is error of commission?Error of commission is an error that occurs when a bookkeeper records a debit or credit to the correct account but to the wrong subsidiary account or ledger.
An example, is that money that has been received from a customer is credited properly to the receivable account, but to the wrong customer.
Hence, we 'll Debit Hubbard Medical Clinic $627.50 and Credit Musheer Orthopedics $627.50
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If two brokerage firms create an alliance in an attempt to prevent another brokerage firm from competing in the marketplace, what may the two firms be liable of. ?
Answer:
A.) Group boycotting
Explanation:
mark me brainliest!!
brown corporation earns 720000 and pays cash dividends of 240000 during 2021. Dexter corporation owns 3000 of the 10000 outstanding shares of brown how much investment income should dexter report
If Dexter corporation owns 3000 of the 10000 outstanding shares of brown the amount of investment income should dexter report is :$1,104,000.
Investment incomeUsing this formula
Investment income=Beginning balance+(Earning×Outstanding shares percentage)-(Cash dividend×Outstanding shares percentage)
Let plug in the formula
Investment income=$960,000 + ($720,000 ×3,000/10,000) - ($240,000 × 3000/10000)
Investment income=$960,000 + ($720,000 × .3) - ($240,000 × .3)
Investment income=$1,104,000
Inconclusion the amount of investment income should dexter report is :$1,104,000.
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If you want to know whether a company had a profit or a loss during a specific period of time, which financial statement would be most helpful?
A.
Statement of owners' equity
B.
Cash flow statement
C.
Balance sheet
D.
Income statement
Answer:
The answer would be D. Income Statement!
Explanation:
Answer:
D
Explanation:
In what ways does a teacher or coach act as a manager?
Answer:
the person or people controlling and directing the affairs of a business.
i think so hope it helps.
Explanation:
True or False: Your payroll office will calculate and deduct your taxes from your gross pay for each pay period.
Answer:
true
Explanation:
if you get a physical check, you can see where these garbage taxes go to, lol. its a complete scam if you ask me.
Answer: Answer is true
Explanation:
Group Accidental Death and Dismemberment premiums are _______ by the company paying the premiums as a business expense.
Answer:
Deductible
I hope this helps you
:)
what is copyright infringement in your own words
Answer:
DescriptionCopyright infringement is the use of works protected by copyright law without permission
Explanation:^
If a person wants to work from home in the Business, Management and Administrative careers, what is required?
O a cubicle to keep the person on task
0 a private office to protect confidential information
proper technology to keep the person connected
proper travel arrangements to meet with customers
Answer:
proper technology to keep the person connected
Explanation:
Working from home entails accessing the office remotely. The employee gets connected to the company's private network while at home. A good internet connection is required for the employee to be connected to the office systems while at home.
Apart from connectivity, they may need a virtual private network application to access the company's private network. The employee's home computer will need configuration to access office applications. Proper technology is, therefore, required to keep an employee connected.
Answer:
C) proper technology to keep the person connected
Explanation:
If the firm’s marginal cost per customer is $30, and the firm wants to follow the profit-maximizing rule, what would be the firm’s quantity of customers and price charged per customer?.
With the marginal cost per customer, the quantity of customers is 4000 and the price is $60.
What is marginal cost?It should be noted that marginal cost simply means the extra cost that's incurred as a result of the additional output produced.
In this case, from the complete question, with the marginal cost per customer, the quantity of customers is 4000 and the price is $60.
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What were the original intentions of government’s involvement with business?.
Answer: The initial goal of the government's participation in business was to preserve business property, enforce business contracts, settle business problems, and settle and collect taxes.
______________ can be measured as the income that could have been earned on an asset, based on the potential rate of return that is lost or sacrificed when one alternative use of the asset is chosen over another.
Answer:
Opportunity cost
Explanation:
Dictionary Definition: the loss of potential gain from other alternatives when one alternative is chosen.
Related back to your question opportunity cost fits this definition.
Dent, Inc., has a beginning inventory balance of $170,000 and purchased $320,000 worth of merchandise during the first 6 months of the calendar year. Dent also sold merchandise with a cost of $410,000 during the first 6 months of the calendar year. Under the periodic inventory method, the balance in Dent's Inventory account (per the general ledger) at June 30 is $ .
Under the periodic inventory method, the balance in Dent's Inventory account (per the general ledger) at June 30 is $170,000.
What is Periodic inventory method?Periodic inventory method can be defined as the process where inventory are recorded periodically.
Based on the information given the balance in Dent's Inventory account at June 30 will be $170,000 which is the beginning inventory balance reason being that under the periodic inventory method inventory are not record as the occur but are recorded at the end of accounting period.
Inconclusion under the periodic inventory method, the balance in Dent's Inventory account (per the general ledger) at June 30 is $170,000.
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What role are textiles believed to have played in Incan culture? a. Used as decorative clothing used for rituals b. Used to identify a person’s profession c. Indicated a person’s ethnic identity and social rank Please select the best answer from the choices provided A B C
The role textiles believed played in Incan culture was in indicating a person’s ethnic identity and social rank.
What is Culture?
This can be defined as the way of life and is characterized by their language, clothing etc.
Incan culture involved ethnic groups and social ranks having their distinct clothings which is why option C was chosen as the most appropriate choice.
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Answer:
C just trust me
Explanation:
Blissful Breeze manufactures and sells ceiling fans. Variable selling and administrative expense is $11.50 per fan and fixed selling and administrative expense is $7,800 per month. If Blissful Breeze produces 900 fans and sells 842 fans this month, total selling and administrative expenses will be $:___________ . (Enter your answer as a whole number.)
Based on the variable selling and administrative expenses, the total selling and administrative expenses for Blissful Breeze will be $17,483.
What will be the total selling and administrative expenses?This can be found with the formula:
= Variable selling and administrative expenses + Fixed selling and administrative expenses
Solving gives:
= (842 fans sold x 11.50) + 7,800
= $17,483
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1) You are the owner of a home located on a street that your city has decided to widen. That project will require the city to take a portion of your front yard by eminent domain. The city has agreed to pay you $10,000. 00 for the property being taken. You have a mortgage with City National Bank. Does the bank have any claim to your proceeds, and where would you look to determine your respective rights
The bank do have right to claim to your proceeds. In the scenario when you owe some mortgage money on your property, the lender which is the mortgage company is known to holds priority over the borrower.
Although one may owe a debt to a bank or lender, they still have some measures of legal rights. One can meet a well and experienced eminent domain lawyer that can help you to explore your legal rights.
What is the eminent domain?Eminent domain is known to be the power of the government to have any of private property in the country and use it into public use.
The Fifth Amendment is one that gives that the government the right to only exercise this power and also give the right compensation to the specific property owners.
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Financial accounting standards are known collectively as gaap. What does that acronym stand for?.
Answer:
Generally Accepted Accounting Principles
Explanation:
how does data mining help interactive marketing for a business?
A. by predicting which customers are likely to go to a competitor
B. by identifying which prospects should be included in a mailing list
C. by revealing the difference between a typical customer this month and last
D. by predicting what each individual accessing a website is most likely interested in seeing
Answer:
a
Explanation:
from what i learned, this is a process that helps retain customer loyalty by basically taking data points and guessing for each consumer. none of the other ones seem right tbh.
Answer:
D. By predicting what each individual accessing a website is most likely interested in seeing.
Explanation:
I took the test.
Suppose the following list of events describes all of the economic activity resulting from an increase in government spending. Suppose that at each step after the initial one, the marginal propensity to consume is 0. 75, and there are no taxes Step 0. The government spends $5,000 on meat to host a very large dinner for foreign diplomats.
Step A. The butcher takes the income daughter. Arned by selling the meat, saves some, and spends the rest on a wedding cake for his
Step B. The baker who produced the wedding cake saves some of her earnings and uses the rest to purchase beautiful candlesticks as gifts for all of her friends.
Step C. The local candlestick maker saves some of his revenue for retirement and spends the rest on building materials to improve his house.
Instructions:
Modify the settings in the interactive tool to represent this event. Then click "Spending Rounds" and use the table to answer the following questions. Round answers to the nearest cent, if necessary
1. How much does the baker earn for selling the cake? $
2. How much does the baker spend on candlesticks? $
1. The amount that the baker earns for selling the cake is $3,750 based on the butcher's marginal propensity to consume of 0.75 of his income ($5,000 x 0.75).
2. The amount that the baker spends on candlestick is $2,812.50 based on the candlestick maker's marginal propensity to consume 0.75 of his income ($3,750 x 0.75).
What is the marginal propensity to consume?Economics defines the marginal propensity to consume (MPC) as the proportion of the income that a consumer spends on the immediate consumption of goods and services.
The marginal propensity to consume (MPC) is the opposite of the marginal propensity to save (MPS). Both economic indexes describe how consumption or savings change, given some changes in income.
Data and Calculations:Marginal Propensity to Consume = 0.75
Taxes = 0%
Government spending on meat = $5,000
Step A:
Amount spent by butcher on daughter's wedding cake = $3,750 ($5,000 x 0.75).
Step B:
Amount spent on the purchase of beautiful candlesticks by baker for producing the wedding cake = $2,812.50 ($3,750 x 0.75).
Step C:
Amount spent by the local candlestick maker on building materials to improve his house = $2,109.38 ($2,812.50 x 0.75).
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what generally happens to the purchasing power of cash over time?
Answer:
it goes down.
Explanation:
back in the 1980s or whatever, someone working a job at a gas station could provide decently comfortably for their family... that is absolutely not true as of today. you will be out on the street starving if you work one job, that is a minimum wage job.
Answer:
A. It doubles.
Explanation:
Rachel went on a mini vacation to the Rocky Mountains for a week. When she returned home, she opened the billing statement for her credit card account. She found that there were transactions on her credit card within the past week in her city that she couldn’t identify. What has Rachel become a victim of?
Answer:
Credit Card Fraud
Explanation:
The following information comes from the 2021 Annual Report to stockholders of Composition Inc. (in thousands): From the Statement of Changes in Shareholders' Equity: Paid-in capital—excess of par Number of Treasury shares Treasury stock amount Retained earnings BALANCES AT December 31, 2019 $ 0 (30,561 ) $ (524,321 ) $ 1,673,382 Net earnings - - - 242,941 Sales of common stock under option plans (5,181 ) 377 10,738 - Cash dividends declared on common stock: $0. 5375 per share - - - (68,952 ) Compensation under employee incentive plans (1,802 ) 395 9,408 - Treasury shares exchanged for Acquisitions 139,209 20,449 318,293 - Purchase of shares for treasury - (6,668 ) (122,906 ) - BALANCES AT December 31, 2020 132,226 (16,008 ) (308,788 ) 1,847,371 Net earnings - - - 81,965 Sales of common stock under option plans (3,538 ) 279 7,095 - Cash dividends declared on common stock: $0. 5475 per share - - - (72,903 ) Compensation under employee incentive plans (196 ) 366 8,271 - Purchase of shares for treasury - (2,933 ) (48,678 ) - BALANCES AT December 31, 2021 $ 128,492 (18,296 ) $ (342,100 ) $ 1,856,433 From the Statement of Cash Flows: Cash flows from financing activities: 2021 2020 Dividends paid $ 72,244 $ 66,932 Required: What was the fair value of the treasury stock exchanged for asset acquisitions for 2020?
The average cost per share of the treasury stock that was purchased for both years will be $18.43 and $16.60 respectively.
How to calculate the average cost?The average cost per share in 2020 will be:
= $122906/6668
= $18.43
The average cost per share in 2021 will be:
= $48678/2933
= $16.60
The fair value of the treasury stock that was exchanged for asset acquisition will be:
Treasury shares = $318293
Add: Paid in capital = $139209
Total = $457502
In conclusion, the fair value of treasury stock is $457502.
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