cho's performance pizza is a small restaurant in dallas that sells gluten-free pizzas. cho's very tiny kitchen has barely enough room for the three ovens in which her workers bake the pizzas. cho signed a lease obligating her to pay the rent for the three ovens for the next year. because of this, and because cho's kitchen cannot fit more than three ovens, cho cannot change the number of ovens she uses in her production of pizzas in the short run.
Answers
These labourers are short-term variable inputs, whereas ovens are long-term fixed inputs.
What is short-term variable inputs?Inputs that are subject to the fluctuation and can have their quantities changed are known as variable costs or inputs in the short term. In this scenario, Cho's has the ability to alter both the personnel and the variable inputs.
These costs can't be changed or amended in the near future, just like fixed inputs cannot. Cho's Kitchen is only allowed to have a maximum of three ovens because she had signed a lease for them. As these costs are fixed, the oven qualifies as a Fixed Input.
Workers Output Marginal product Total cost
0 0 ---- 30
1 50 50 30+30 = 60
2 90 90-50 = 40 30+60 = 90
3 120 120-90 = 30 30+90 = 120
4 140 140-120 = 20 30+120 = 150
5 150 150-140 = 10 180
Total cost = Fixed cost + Variable cost.
Variable cost increased by $30 with every worker because wage rate is $30.
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The Treaty of Maastricht and the Treaty of Lisbon were indications of within the European Union Multiple Choice a harmonized trade system - greater political union less economic structure increased sovereignty for member countries a shift toward common external policies
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The Treaty of Maastricht and the Treaty of Lisbon were signs of a wider political union of the European Union, less of an economic structure.
The Europeans who demanded the highest rates from the rest of Europe for products imported from Asia were the Venetians. Because of its historical importance, UNESCO declared this city a World Heritage Site. Venice, which was established in the fifth century and has a prime position, has progressively risen to importance in Europe. They placed a lot of focus on navigation, which aided in its development as the city with the greatest commercial significance. Due to Venice's close economic relations with China and India, merchants were able to import items from Asia and resell them to the rest of Europe for considerably higher prices.
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The guidelines regarding brokerage employees opening personal accounts with other brokerage firms do not apply if the transactions in the account involve which of the following securities?
mutual funds, unit investment trusts, variable contracts, or 529 plans
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The guidelines regarding brokerage employees opening personal accounts with other brokerage firms do not apply if the transactions in the account involve the listed securities:
Mutual funds.Unit investment trusts.Variable contracts. 529 plans.This is because these securities are considered "packaged" investments, which are designed for retail investors and are generally not actively traded. Unlike individual stocks or bonds, the performance of these securities is primarily determined by the overall market.
As a result, there is less potential for conflicts of interest when a brokerage employee opens a personal account that includes these packaged securities, as the employee is unlikely to have any influence over the performance of the underlying investments.
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Suppose Jim and Dwight are coworkers in the same office. If Jim is more productive than Dwight because he has received extra training, then Jim has _________. a. more human capital than Dwight b. the same amount of human capital as Dwight c. less human capital than Dwight
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Option - A. More human capital than Dwight. If Jim is more productive than Dwight because he has received extra training, then Jim has More human capital than Dwight.
The information, skills, and talents that people develop via education, training, and experience are referred to as human capital. In this instance, Jim is more productive than Dwight because he obtained more training. This implies that Jim has more human capital than Dwight since he has gained more expertise and information pertinent to their line of work. Therefore, Jim has more human capital than Dwight, which is the proper response. Social scientists refer to personal qualities seen to be helpful in the manufacturing process as "human capital." It includes the education, good health, and knowledge of the workforce. Individual incomes are significantly impacted by human capital. The information, skills, and health that people invest in and assemble during their lifetimes provide them the opportunity to reach their potential.
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A client is risk averse and is planning on retiring in 16 years. The client is rolling over $100,000 from his 401(k) plan, all of which is currently invested in his former employer's stock. As the client's investment adviser, which of the following would you recommend?
A)Keeping the money in the employer's stock. B)AAA rated zero-coupon bonds maturing in 16 years. C)Highly rated preferred stocks paying liberal dividends. D)Laddering US Treasury bills.
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Option (D) 50% are held in a high-quality bond portfolio, and 50% are held in an S&P 500 index fund.
Which investing strategy would be best for a client looking to preserve cash while also earning current income?The goal of the investment strategy known as fixed income is to preserve both capital and income. Bonds issued by governments and corporations, CDs, and money market funds are typical investments included. Less risky than stocks, fixed income can provide a consistent stream of income.
Which investment ought a financial advisor to suggest to a business client whose goal is present income with minimal risk?Although large capitalization equities are typically less volatile than small-cap stocks and offer long-term capital growth, large-cap growth funds are the best option for clients who are willing to take on a moderate amount of risk.
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MIT economist Jerry Housman has estimated the price elasticity of demand for Post Raisin Bran cereal to be -2.5 and the price elasticity of demand for all types of breakfast cereals to be -0.9. The demand for Post Raisin Brand cereal is elastic / inelastic and the demand for all types of breakfast cereals is inelastic/elastic.
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If the resulting elasticity value is greater than 1, the product is elastic. If the value is less than 1, the product is inelastic.
Elasticity refers to how sensitive the quantity of a product demanded is to changes in its price. A product is considered elastic if a small change in price leads to a significant change in the quantity demanded, while a product is considered inelastic if a change in price has little effect on the quantity demanded.
Now, let's apply this concept to Post Raisin Bran cereal and all types of breakfast cereals. According to MIT economist Jerry Housman, the price elasticity of demand for Post Raisin Bran cereal is -2.5. This means that a 1% increase in the price of Post Raisin Bran cereal would lead to a 2.5% decrease in the quantity of cereal demanded. Therefore, the demand for Post Raisin Bran cereal is elastic.
On the other hand, the price elasticity of demand for all types of breakfast cereals is -0.9. This means that a 1% increase in the price of all types of breakfast cereals would lead to a 0.9% decrease in the quantity of cereal demanded. Therefore, the demand for all types of breakfast cereals is inelastic.
In mathematical terms, elasticity can be calculated using the following formula:
Elasticity = (Percent change in quantity demanded) / (Percent change in price)
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in which of the following settings would the use of project management techniques be least appropriate?
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The application of project management techniques be least appropriate in Managing the operations at the local Wal-Mart. It is because wal-mart is an retailer that operates grocery stores.
In the term of business and economy, Project management generally can be defined as the process of leading the work of a team to achieve all project goals within the given constraints. The process leading of the work usually being described in project documentation. Project management is used from the beginning of the development process until it is being done. There are several aspects that included in the project management, such as scope, time, and budget.
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You are an owner of a restaurant. In an attempt to increase sales, you have lowered prices by 10%. Which of the following is a NOT consequence of this price change?
a. The demand for restaurant meals will not change
b. The supply of restaurant meals will increase
c. The quantity supplied of restaurant meals will decrease
d. Demand for meals at home will decrease
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Option (b), It is NOT a result of this pricing shift that the availability of restaurant meals will rise.
Which restaurant pricing strategy is the most successful?Cost-plus pricing is one of the pricing strategies that is most frequently employed nowadays. This method, which is also very easy to use, will be used to determine how much to charge for your food items. Simply add the necessary profit margins to the sum of all expenses related to creating a dish.
What happens to demand when prices increase?The term used by economists to describe the Law of Demand. As a product's price increases, less people want it (but demand itself stays the same). When the price falls, more is being demanded.
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A perfectly competitive firm's short-run supply curve is: A) its marginal cost curve above its minimum average variable cost. B) the upward sloping portion of its average variable cost curve. C) the upward sloping portion of its marginal cost curve. D) its average total cost curve.
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The short-run supply curve of a perfectly competitive firm is A) its marginal cost curve above its minimum average variable cost.
What is the short run supply curve for the firm with perfect competition?After the point where the MC curve and AVC (average variable cost) curve intersect and the AVC is at its minimum, the short-run supply (SS) curve of a perfectly competitive (PC) company is the MC (marginal cost) curve.
Why does a firm with perfect competition have an upward-sloping short-run supply curve?It is accurate because a firm will experience a short-term decline in marginal return if it increases both fixed and variable inputs into the production process. The slope of the supply curve is rising as production rises, however at a falling rate as a result of the excessive rise in variable inputs.
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according to the article, what interesting differences did the author notice about the prices on his phone versus the prices on his laptop?
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The pricing on the author's phone were less expensive than those on the author's laptop because of personalization, as all of the author's information would be in the app, and only costs would be determined by that.
Price discrimination occurs when businesses charge different amounts to certain consumer groups in an effort to increase their profits. For instance, a business might demand a high price for a certain product while giving information the same thing to consumers with lesser incomes or students at a cheaper price. Product differentiation is the method used to set one firm's products and services apart from those of another company.
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Confidence I have no idea! e Page 36 2.2. What is a production possibilities frontier? You lost 10 points on this question. Assume that an economy produces only two goods, pizza and wings, and that it is producing on its production possibilities frontier (PPF). If the economy can only produce two goods, which of the following ways would allow the economy to produce even more pizza? Activity Score 1320 Way to Increase the Number of Pizzas Produced Current Grade growth in labor force 0% improved pizza-making technology You must answer at least 4 more questions to receive a grade. improved wing-making technology Next Question Show Feedback some workers move to a country that produces only pizza Question Help/Challenge more efficient use of existing production assets Not a Way to Increase the Number of Pizzas Produced
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A production possibilities frontier (PPF) is a graphical representation of the maximum combinations of two goods.
It shows the trade-off between producing one good and the other, assuming that all resources are fully utilized.In the scenario where an economy produces only two goods, pizza and wings, and is producing on its production possibilities frontier PPF, any increase in the production of pizza would require a decrease in the production of wings, or an increase in available resources.Out of the given ways to increase the number of pizzas produced, the most feasible options would be growth in labor force and improved pizza-making technology.Growth in labor force would provide additional workers to produce more pizzas, assuming that the other production factors remain constant. Improved pizza-making technology would increase the productivity of existing workers and resources, allowing for more pizzas to be produced without increasing the number of workers or resources.Improved wing-making technology would not increase the production of pizzas since it is a completely different good.
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the covered entity must provide an npp upon the first service delivery, which may or may not be in person
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The Notice Privacy Practices must be given and inform by Covered entities at first contact with the patient. It is because the NPP is used by a customer to decide whether to enter into the relationship.
In the term of business and economy, The NPP also can be called as Notice Privacy Practices. The Notice Privacy Practices generally can be defined as a document that tells our patients, employees, or clients how their health information may be used and shared and lists their health privacy rights related to Protected Health Information (PHI). The Notice Privacy Practices is a part of the HIPAA Privacy Rule and a key requirement for your organization.
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This tax would be less effective in reducing the quantity of gasoline consumed if the demand for gasoline were ___ elastic.
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This tax would be less effective in reducing the quantity of gasoline consumed if the demand for gasoline were relatively inelastic.
What is relatively inelastic?A quantity's elastic response to a change in another variable is referred to as elasticity. It gauges how responsively the quantity demanded is to a change in price in the situation of demand elasticity. Demand is said to be moderately inelastic if a change in price only slightly alters the quantity desired. This indicates that customers are less price sensitive and are likely to keep buying the same amount of gasoline, even if the price rises as a result of a tax. The demand is said to be relatively elastic, however, if a change in price results in a relatively big change in the amount required.
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Question: You've Been Hired By ABC Company To Review Several Transactions That Were Omitted As Adjusting Entries At December 31, 2015 As The Bookkeeper Was New And Uncertain On How To Record Them. For Each Of The Transactions Listed Below, Record The Appropriate AJE That Would Have Been Required At December 31st. Transactions:
You've been hired by ABC Company to review several transactions that were omitted as Adjusting Entries at December 31, 2015 as the bookkeeper was new and uncertain on how to record them. For each of the transactions listed below, record the appropriate AJE that would have been required at December 31st.
Transactions:
A. On September 1, 2015, ABC received a $15,000 advance payment from a customer for services to be performed evenly over the next 15 months. The original entry was credited to a real account.
B. On March 1, 2015, ABC paid $12,720 for a four-year insurance policy. ABC debited a nominal account at that time.
For your account titles, choose from:
Service Revenue
Unearned Revenue
Insurance Expense
Prepaid Insurance
Answers
The journal entry will be unearned revenue will be debited $3000 and service revenue will be credited with $3000. as it was performed evenly over the next 15 months
On March 1, 2015, ABC paid $12,720 for a four-year insurance policy. ABC debited a nominal account at that time.The expected journal entry for the same will be Insurance expense debited with an amount of $1590 and prepaid insurance credited with an amount of $1590.
What is a journal entry?In an organization's accounting system, a journal entry serves as a record of a business transaction. Journal entries serve as the cornerstone of the centuries-old double-entry accounting process.
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antonio is a 47-year-old accountant who has been out of work for almost a year. he became so discouraged that he gave up on his job search a couple of months ago.
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Employers do not count discouraged workers as unemployed because they have not actively sought employment in the previous four weeks. U.S. Labor Statistics Bureau.
"Labor Force Statistics From the Current Population Survey: Discouraged Employees." Discouraged workers typically left the Statisticsforce because they were unable to find a position that met their needs or were unsuccessful in their job applications.
The phrase excludes those who left the workforce for other causes, such as becoming pregnant or being unable to work due to a disability. Usually, discouraged Statistics individuals have left the workforce because they were unable to locate acceptable employment or were unsuccessful in their job applications.
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Consider the entire U.S. economy If there is widespread technological progress seen in the production of goods, which of the following will occur ___
A. Prices will increase and the quantity sold vwill decrease B. Prices will decrease and the quantity sold will decrease.
C. Prices will decrease and the quantity sold will increase D. Prices will increase and the quantity sold will increase.
Answers
If there is widespread technological progress seen in the production of goods, prices will decrease and the quantity sold will increase will take place.
Option C is correct.
What Is Equilibrium Economic?A situation or state in which economic forces are in balance is called economic equilibrium. In reality, in the absence of external influences, economic variables maintain their equilibrium values. Market equilibrium is another name for economic equilibrium.
Since consumers only have a limited amount of money to spend on a product or service, higher prices result in a decrease in demand. On the other hand, as the product becomes more affordable, demand rises.
What is the connection between demand and price?According to the law of demand, a lower price results in a higher quantity demanded, while a higher price results in a lower quantity demanded. The relationship between price and quantity demanded can be summarized using tools like demand curves and demand schedules.
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Ski Master Company pays weekly salaries of $7,700 on Friday for a five-day week ending on that day. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Wednesday. If an amount box does not require an entry, leave it blank.
____ 2 _____ 3
____ 5 _____ 6
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Inside the statement given, $4620 the amount box doesn't really require a contribution.
What is the definition of accounting?Accounting, which is frequently referred to as simply "accounting," is the procedure of gathering, analyzing, and disseminating financial and other data on companies and businesses. The several types of accounting include forensic accounting, management consulting, corporate accounting, and government accounting.
Some journal entries are also shown below:
The entries are displayed below: ($7,700 × 3 days ÷ 5 days)
To Wages payable $4620
(Become the accrued wages is reported) For recording this we deducted the wages expenditure as it raised accounting expenses as well as credited the earnings payable because it increased the liabilities.
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a. If price increases by 10 percent and quantity demanded decreases by 15 percent, demand is (click to select) . b. If price decreases by 10 percent and quantity demanded increases by 5 percent, demand is (click to select) .
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If the price increases by 10 percent and the quantity demanded decreases by 15 percent, demand is generally considered to be inelastic.
What is elastic vs inelastic?An elastic demand is one with a large change in quantity demanded as a result of a price change. Inelastic demand occurs when the change in quantity demanded as a result of a price change is small.
Demand is said to be inelastic when the percentage change in quantity demanded is proportionally less than the percentage change in price. In this case, the 10 percent increase in price resulted in a 15 percent decrease in quantity demanded, indicating that the change in quantity demanded is greater than the change in price.
This suggests that the demand for the product is relatively insensitive to changes in price, and therefore, it is considered to be inelastic.
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Amortization is the process of paying off loans by regularly reducing the ___.
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An amortised loan payment first covers the interest cost for the period; any balance is applied to the principal balance. An amortisation loan's principal payment increases as the interest component of the payment decreases.
The process of dividing a fixed-rate loan into equal payments is known as loan amortisation. Each installment includes a portion for interest and a portion for the loan principal. Utilizing a loan amortisation calculator or table template will make calculating payments on an amortised loan the simplest process possible. Loan amortisation is the process of repaying a loan over time with consistent payments. Each loan payment typically includes a portion used to cover interest.
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A sunscreen company sends out a press release about its limited-edition products which benefit a nonprofit for skin cancer. Which of the following is the best way for the sunscreen company to measure the impact the public relations message had on attitudes toward the company? X Performing a content analysis of the message Examining discussions about the campaign on social media forums Asking consumers for relevant feedback after the campaign Measuring attitude levels before and after the campaign Counting the number of media exposures
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The easiest way for the sunscreen company to gauge how the public relations message affected perceptions of the business is as follows: the evaluation of attitudes both before and after the campaign.
How can you evaluate a person's attitude?The most popular method for gauging sentiments is this one. In an attitude study, the researchers hand out a questionnaire or conduct a series of phone interviews. By responding to a series of questions, a respondent reveals his or her attitude. These inquiries could be open-ended or closed-ended.
What four different attitude scales are there?Normative Scale. The simplest attitude measurement scale used in marketing research is the ordinal scale, Temporal Scale, Scale of ratios.
The easiest way for the sunscreen company to gauge how the public relations message affected perceptions of the business is as follows: the evaluation of attitudes both before and after the campaign.
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The for major types of transactions that affect equity in a business are...
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The 4 important styles of transactions that have an effect on equity in an enterprise are sales, prices, proprietor's withdrawals, and owner's investments.
In economics, a transaction refers to an exchange of goods, services, or financial assets between two parties. These parties can be individuals, firms, or governments. Transactions involve a transfer of ownership from one party to another, and they are a fundamental part of economic activity.
The two main types of transactions are cash and credit transactions. In a cash transaction, payment is made at the time of the exchange, while in a credit transaction, payment is deferred until a later date. Transactions can also be categorized as market transactions, where the exchange occurs in a marketplace, or non-market transactions, which occur outside the market, such as government transfers and charitable donations.
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Valdez Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range.
Sales (6,000 units) $ 240,000
Variable expenses 180,000
Contribution margin 60,000
Fixed expenses 54,000
Net operating income $ 6,000
The break-even point in unit sales is?
Answers
The correct answer to the question is 5.400 units.
Step by step explanation
given information:
Sales of 6,000 units and $240,000Variable expense $180,000Contribution margin $60,000Fixed expenses $54,000Net Operating Income $6,000Sales price per units = $240,000 ÷ 6,000 = $40
Variable cost oer units = $180,000 ÷ 6,000 = $30
Break Event Point in Units = Fixed cost ÷ (sales price per unit - variable cost per unit)
BEP in Units = $54,000 ÷ ( $40 - $30)
= $54,000 ÷ $10
BEP in Units = 5400
The break even point in unit sales is 5.400 units.
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What can be said about point E?
A. At point E there are unemployed resources in this economy
B. Point E is currently unattainable
C. Point E could be obtained if there was growth
D. both b and c are correct
E. In the overall scheme of the universe is there ever REALLY a point E? (hint this answer is incorrect)
Answers
Based on the provided graph, Point E represents a level of production beyond the current economy, which means that it currentlyunattainable.
The graph shows the production possibilities frontier (PPF), which is a model that demonstrates the different combinations of two goods that an economy can produce with its limited resources. The points on the PPF represent the maximum production levels of the two goods that an economy can achieve given its current resources and technology.Point E is located outside the PPF, which indicates that it is beyond the current capacity of the economy to produce. Therefore, statement B is correct. However, statement C is incorrect as it suggests that point E could be obtained through growth. Growth can shift the PPF outward, allowing the economy to produce more of both goods, but it cannot move the economy beyond its current PPF.Statement A is also incorrect because point E is beyond the current capacity of the economy, so there are no unemployed resources that can be used to produce the goods represented by point E.Thus, the correct answer is B, which states that point E is currently unattainable, while statement C is incorrect
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The menus covered under the Profile Menu areanswer choicesMy Profile, Settings, Tools, and CommentsComments, Security, Privacy, and SettingsMy Profile, Account Settings, Security, and PrivacyAccount Settings, Privacy, Blocked Sites, and Plugins
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The menus covered under the Profile Menu are:
My Profile, Account Settings, Security, and Privacy
What is a Profile Menu?The name (or nickname) and profile picture of a user are displayed in the User Profile Menu component. Additionally, it shows a dropdown from which users can access their profile, open a case, access their location and email notification settings, and log out. Additionally, external users have access to and control over their accounts. A Login button appears in the header if the user is not currently logged in.
Each template has a built-in default user profile menu that can be altered as necessary. For the B2B Store template, for instance, the link that customers click to view their account record displays account information on the My Account page. Information from external user accounts is displayed in the generic Record Detail page for all other templates.
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The menus covered under the Profile Menu are
My Profile, Settings, Tools, and CommentsComments, Security, Privacy, and SettingsMy Profile, Account Settings, Security, and PrivacyAccount Settings, Privacy, Blocked Sites, and PluginsWhat is the minimum requirements for Ibkr?
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To be eligible for an Interactive Brokers (Ibkr) account, you must meet the following minimum requirements:
- A minimum deposit of USD 10,000
- At least 18 years of age
- Resident of an approved country.
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Explain each of the following statements using supply-and-demand diagrams.
a. When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country.
b. When the weather turns warm in New England every summer, the price of hotel rooms in Caribbean resorts plummets.
c. When a war breaks out in the Middle East, the price of gasoline rises and the price of a used Cadillac falls.
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a. When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country.
In this scenario, the cold snap in Florida would cause a decrease in the supply of oranges, which would shift the supply curve to the left. This decrease in supply would cause the equilibrium price of orange juice to rise,
What is the supply-and-demand about?b. When the weather turns warm in New England every summer, the price of hotel rooms in Caribbean resorts plummets.
In this scenario, the warm weather in New England would cause an increase in demand for travel to Caribbean resorts, which would shift the demand curve to the right. This increase in demand would cause the equilibrium price of hotel rooms to rise.Lastly, c. When a war breaks out in the Middle East, the price of gasoline rises and the price of a used Cadillac falls.
In this scenario, the war in the Middle East would cause a decrease in the supply of oil, which would shift the supply curve to the left. This decrease in supply would cause the equilibrium price of gasoline to rise.Learn more about supply-and-demand from
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Based on the theories of Smith, Ricardo, and Heckscher-Ohlin, in a country with access to cheap labor, productive land, and diverse plant life, it makes sense to _____ agricultural goods
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According to the theories of Smith, Ricardo, and Heckscher-Ohlin, it makes sense to export agricultural products in a nation where there is availability to inexpensive labor, productive land, and a variety of plant life.
What is mentioned about the benefits of trade according to the Heckscher-Ohlin theory?The Heckscher-Ohlin hypothesis states that trade enables specialization in each country. In exchange for the product that country is better fitted to manufacture, each nation exports the product that it is best able to produce.
How exactly does the Heckscher-Ohlin theory work, and is it valid?So, according to the Heckscher-Ohlin theory, Luxembourg will trade capital-intensive goods for labor-intensive goods with India. Even if it makes sense, the Heckscher-Ohlin theory does not necessarily correspond to actual international trade patterns.
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Which of the following is a correct statement regarding reporting on reviewed financial statements for a non issuer?
A) An accountant who is NOT independent is allowed to issue a review report as long as the accountant discloses the lack of independence in the review report.
B) The date of the accountant's review report should be the day the accountant discusses the draft report with management.
C) Reviewed financial statements must be prepared in accordance with generally accepted accounting principles.
D) An accountant is allowed to issue a review report on the balance sheet only and NOT on the other financial statements as long as the scope of inquiry and analytical procedures were NOT restricted.
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The correct statement is D) An accountant can issue a review report on the balance sheet only and NOT on the other financial statements as long as the scope of inquiry and analytical procedures are NOT restricted.
The balance sheet is the only financial statement that can be the subject of a review report under generally accepted auditing standards (GAAS), even if the scope of the investigation and the analytical techniques were not constrained.
As part of a review engagement, investigation and analytical techniques are used to acquire a bare minimum of assurance that the financial statements are accurate. The entire set of financial statements, not just the balance sheet, is covered by the review engagement's scope. A review engagement's goal is to offer a medium level of assurance that the financial statements adhere to the relevant financial reporting framework, such as Generally Accepted Accounting Principles (GAAP).
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rem consulting is completing the accounting information processing at the end of the fiscal year, december 31. the following trial balances are available. (hint: one of the accounts was affected by two different adjusting entries). accounts unadjusted trial balance adjusted trial balance debit credit debit credit cash 13,000 13,000 accounts receivable 1,500 1,800 prepaid insurance 600 200 supplies 3,800 3,000 machines 30,000 30,000 accumulated depreciation 12,000 17,500 wages payable 900 unearned fees 6,700 6,500 common stock 24,000 24,000 dividends 4,800 4,800 fees earned 25,000 25,500 wages expense 14,000 14,900 depreciation expense 5,500 supplies expense 800 insurance expense 400 67,700 67,700 74,400 74,400 question content area a. reconstruct the adjusting entries of each transactions. if an amount box does not require an entry, leave it blank. blank - select - - select - - select - - select - accrued fees blank blank blank - select - - select - - select - - select - expired insurance blank blank blank - select - - select - - select - - select - supplies used blank blank blank - select - - select - - select - - select - record depreciation blank blank blank - select - - select - - select - - select - accrued wages blank blank blank - select - - select - - select - - select - revenue earned question content area b. what is the amount of net income? $fill in the blank da61b204d07cf80 1
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The Net Income of the company will be $3900.
How to calculate the net incomeREM Consulting
Unadjusted Trial Balance Adjusted Trial Balance
Debit Credit Debit Credit
Cash 13,000 13,000
Accounts Receivable 1,500 1,800
Prepaid Insurance 600 200
Supplies 3,800 3,000
Machines 30,000 30,000
Acc. Depreciation 12,000 17,500
Wages Payable 900
Unearned Fees 6,700 6,500
Owner’s Capital 24,000 24,000
Owner’s Drawing 4,800 4,800
Fees Earned 25,000 25,500
Wages Expense 14,000 14,900
Depreciation Expense 5,500
Supplies Expense 800
Insurance Expense 400
Total 67,700 67,700 74,400 74,400
Adjusting Entries
SR. No Accounts Debit Credit
1) Accounts Receivable 300
Sales 300
As Sales increase so do the Accounts receivable.
2) Insurance Expense 400
Prepaid Insurance 400
Insurance expired by $400.
3) Supplies Expense 800
Supplies 800
Supplies used up by amount $800.
4) Depreciation Expense 5,500
Accumulated Depreciation 5,500
Depreciation Expense amounts to $ 5,500
5) Fees Earned 200
Unearned Fees 200
Provided Services for which payment had been collected,
6) Cash 500
Fees Earned 500
Received $500 for services provided.
7) Wages Payable 900
Cash 900
Paid wages payable to the employee.
REM Consulting
Net income
Fees Earned 25500
Wages Expense 14,900
Depreciation Expense 5,500
Supplies Expense 800
Insurance Expense 400
Net Income 3900
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One purpose of deregulation is to open up the doors of competition to many businesses in order to offer consumers greater choice in purchasing services or products.
True or False
Answers
The given statement "One purpose of deregulation is to open up the doors of competition to many businesses in order to offer consumers greater choice in purchasing services or products." is True. Because deregulation create a competitive environment where businesses offer a wider range of products at lower prices. So, correct answer is true.
Deregulation refers to the reduction or elimination of government regulations on businesses and industries. One of the primary goals of deregulation is to promote competition by removing barriers to entry and allowing multiple firms to operate in the market.
By doing so, deregulation aims to create a more competitive environment where consumers can benefit from greater choice and increased access to these goods and services.
In addition, deregulation can also stimulate innovation, as businesses are free to experiment with new technologies and business models without being hampered by restrictive regulations. So, the correct option is True.
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fill in the blank. a classified balance sheet ___. multiple choice question. shows only current assets and current liabilities contains confidential information groups asset and liabilities into current and long-term categories shows changes in assets, liabilities, revenues and expenses
Answers
A classified balance sheet groups asset and liabilities into current and long-term categories.
What is a Balance Sheet?A balance sheet is a type of financial statement that shows the state of a company's finances at a certain moment in time. It outlines the relationships between the assets, liabilities, and equity of a corporation. A company's resources, such as cash, inventory, and real estate, are considered its assets. A company's liabilities are debts it owes to other parties, including loans or accounts payable.
When obligations are deducted, a company's equity is the remaining worth of its assets. The balance sheet is a crucial tool for financial management and decision-making since it aids analysts and investors in determining a company's liquidity, solvency, and overall financial health.
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