Kim can claim (A) $2,000.
What are assets?In financial accounting, an asset is any resource that a corporation or economic organization owns or controls. It is anything (tangible or immaterial) that can be utilized to generate positive economic value. Assets indicate the worth of ownership that may be transformed into cash (although cash itself is also considered an asset). A company's balance sheet details the monetary value of its assets. It protects money and other assets belonging to an individual or a corporation.To find how much Kim can claim:
The $1,000 loss on the business auto is an ordinary loss.Whereas the $1,000 loss on the stock investment is a capital loss. The $1,000 boat loss is personal and hence cannot be subtracted.Therefore, Kim can claim (A) $2,000.
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The question you are looking for is given here:
During the year, Kim sold the following assets: business auto for a $1,000 loss, stock investment for a $1,000 loss, and pleasure yacht for a $1,000 loss. Presuming adequate income, how much of these losses may Kim claim?
a. $2,000
b. $1,000
c. $0
d. $3,000
e. None of these choices are correct.
In applying the lower of cost or market method to lifo inventory costing market is defined as_______.
In applying the lower cost or market method to LIFO inventory costing market is defined as replacement cost.
The Last-In, First-Out (LIFO) approach is predicated on the idea that the most recent or most recent unit to enter inventory gets sold first.
For many businesses, LIFO is not feasible because they wouldn't keep their older inventory sitting around in stock.
Since LIFO values COGS (Cost of Goods SOld) using the most recent inventory received, the remaining inventory may be severely dated or out of date.
Because the valuation is substantially lower than the cost of inventory items today, LIFO does not provide an accurate or up-to-date value of inventory.
When valuing inventory, many businesses may claim that they employ the "lower of cost or market."
This implies that, in the event that inventory values fell, their valuations would instead reflect market value (or replacement cost) as opposed to LIFO, FIFO, or average cost.
Hence, In applying the lower of cost or market method to LIFO inventory costing market is defined as replacement cost.
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Fried chicken and grilled chicken are substitutes. If the american heart association announces that eating fried chicken increases the risk of stroke, this will cause?
It will cause decrease in the demand of fried chicken and increase in the demand of grilled chicken. A product or service that consumers may quickly swap out for another is referred to as a substitute.
Consumers are given options and alternatives through substitutes, which also encourage market competition and demand down prices. A product must have a certain relationship with a good in order to be a substitute for that good. These connections might be direct—like one brand of coffee and another—or indirect—like coffee and tea.
In economics, substitute items are frequently used when demand for one product rises as price of substitute product rises.
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There are two grounds for suspicion when credibility is the issue. What are they?
There are two grounds for suspicion when credibility is the issue are claim itself and its source. A claim is when you assert your ownership of something, such as your medical records or the deed to your home. When you make a claim or assert something, you are demanding it or asserting that it is true.
On their tax returns, people claim dependents and deductions. In court, you could argue that you are owed money by an employer who cheated you. You could claim to be able to juggle chainsaws. You must demonstrate the veracity of any claim. When you assert your right to something, you are claiming it.
An insurance claim is a formal request to your insurance company for reimbursement for losses covered by your policy. Insurance is a contract between you and your insurer.
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If the demand for product x is inelastic, a 15 percent decrease in the price of x will:____.
If the demand for product x is inelastic, a 15 percent decrease in the price of x will: Reduce by more than 15 percent the amount of X that is being requested. Reduce by less than 15 percent the amount of X that is being requested.
This is further explained below.
What is the inelastic market?Generally, An economic concept known as inelastic refers to an item or service's static quantity when its price varies. When a product's price increases or decreases, customers' purchasing patterns are said to be inelastic, which indicates that neither change affects the other.
In conclusion,If there is no elasticity in the demand for product x, then a price reduction of 15% for product x will have the following effects: The quantity of X that is being requested should be decreased by more than 15 percent. The quantity of X that is being sought should be decreased by more than 10 but less than 15 percent.
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There is a price ceiling of $20. what is the value of consumer surplus if all the goods are allocated randomly?
Answer:
$120
Explanation:
$20 * 6 = 120
On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu Company. The terms of the note were $20,000 face value and 6% interest. On October 30, the journal entry to record the collection of the note should include a
journal entry to record the collection of the note would be:
debit to Notes Receivable for $20,000
credit to Notes Receivable for $20,300
debit to Interest Receivable for $300
*credit to Interest Revenue for $300
More about journal entry:
A journal entry is a record of a business transaction in an organization's accounting system. Journal entries are the foundation of the double-entry accounting method, which has been used to keep financial records for centuries. They allow a company to track what its resources have been used for and where those resources came from.
More about Notes Receivable:
Amounts owed by customers for which a formal credit agreement has been written and signed Typically used when payment is not expected for more than 60 days. A formal credit account requiring interest is sometimes used to settle an account receivable. Depending on the term of the note, it can be a current or noncurrent asset. The borrower on a note is referred to as the "Maker." The "payee" is the party making the loan.
Interest Receivable:
It is the interest earned by the company, but not yet collected in cash.
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A recession within a nation will _________ imports directly, but the impact on the national economy is negative.
A recession within a nation will reduce imports directly, but the impact on the national economy is negative.
Monetary policy. monetary policy consists of the steps the central bank of a nation can take in order to regulate the nation's money supply. For example, a central bank might reduce interest rates during a recession in order to make loans more readily available to other banks and thus stimulate economic recovery.
During a recession, the economic struggles, people lose work, companies make fewer sales, and the country's overall economic output decline. The point at which the financial system officially falls right into a recession relies upon an expansion of things.
Monetary policy can offset a downturn due to the fact that decreased interest rates reduce consumers' cost of borrowing to shop for large-ticket objects such as cars or homes. For firms, the economic policy also can reduce the value of an investment.
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__________ are common development types which usually include a range of housing types along with recreational amenities, supporting retail, and other commercial activities. The amenity packages are a consideration for potential buyers and usually represent significant up front infrastructure investments.
Master-plan communities are common development types that usually include a range of housing types along with recreational amenities, supporting retail, and other commercial activities.
What are master-plan communities?A planned community, planned city, planned town, or planned settlement is any community that has been meticulously planned from the start and is often built on previously undeveloped territory. In contrast, settlements emerge in a more haphazard and organic manner.The word "new town" refers to planned communities associated with the new towns movement, primarily in the United Kingdom. Master-plan communities are popular types of development that often feature a variety of dwelling types as well as recreational amenities, supporting shops, and other commercial operations.As the definition itself says, Master-plan communities are popular types of development that often feature a variety of dwelling types as well as recreational amenities, supporting shops, and other commercial operations.
Therefore, master-plan communities are common development types that usually include a range of housing types along with recreational amenities, supporting retail, and other commercial activities.
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The cost object in a job order system is the ______ and the cost object in a process costing system is the ______. Multiple choice question. process; specific job process; department job; process or department department; process
The cost object in a job order system is the Specific Job and the cost object in a process costing system is the Process.
What Is Process Costing?
With process costing, companies determine item cost by tracking the cost of each stage in the production process, instead of tracking costs for each individual item. After adding up the cost of all the steps in the process, they divide the total cost by the number of items. This is called the cost per unit.
For example, a paper company might track the cost of each stage in the process of turning wood pulp into reams of paper, then divide the total cost by the number of reams to get the cost per ream.
What is Job Order Costing?Job order costing accumulates all costs associated with one specific job, order, or project. It is most often used for customized jobs with easily traceable costs. The job, order, or project is the cost object in job order costing. Direct materials and direct labor are traced to the individual job and manufacturing overhead is allocated to the job based on a given cost driver activity used for the job multiplied by an overhead rate. The overhead rate is found at the beginning of the period using estimated overhead costs and estimated total cost driver activity.
For example, a company manufactures custom prefabricated stairs for builders. Since each house is slightly different, each house gets measured, and each staircase has slightly different widths, rises, and runs to fit the unique home.
Hence, Job order costing is a costing system in which each product or job has traceable costs. Process costing is a costing system in which a product is mass produced, so costs are determined by equivalent units produced.
Therefore , we can conclude that the correct option is specific job, process.
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Which of the following statements accurately describe intergenerational mobility patterns among industrial countries
The statement which accurately describes intergenerational mobility patterns among industrial countries is the positions of parents in stratification is transmitted.
Intergenerational social mobility refers to the relationship between the socioeconomic status of parents and the status children achieve as adults. In other words, mobility reflects the extent to which individuals move up and down the social ladder relative to their parents.
Intergenerational mobility occurs when social status changes from generation to generation. The change can be upward or downward. For example, his father worked in a factory while his son was being trained to become a lawyer or a doctor.
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Journal entries based on the bank reconciliation are required in the company's accounts for?
Journal entries based on the bank reconciliation are required in the company's accounts for additions to the balance according to the company's records and deductions from the balance according to the company's records and as well as for book errors.
When there are changes to the balance according to the books, a bank reconciliation needs journal entries.
These adjustments are the result of things that were on the bank statement but were not reflected in the general ledger accounts of the business.
The following are examples of common adjustments to the balance per books:
bank fees or service costs for keeping the account, fees for executing wire transfers, printing checks, and so forth, accrued bank interest, Paying back loans, Electronic payments or charges made by suppliers and others and Previously deposited customer cheques that are now being returned due to insufficient money.
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Sally, a lender with a banking, has received a loan application from a prospective buyer hoping to purchase a four-bedroom house. what does sally do with the information she’s received?
Sally, a lender with a banking, has received a loan application from a prospective buyer hoping to purchase a four-bedroom house. sally would verify the information she has received.
To assess applicants' creditworthiness and ability to repay a mortgage loan, mortgage bankers are required to confirm or verify applicants' work status, salary, credit history, and other financial information. Bankers make sure that applicants complete all necessary loan forms, and they respond to any queries that applicants may have regarding the mortgage procedure.
When you apply for a mortgage to buy real estate, you must submit a loan application to the lender. The data in a loan application is what lenders use to determine whether or not to approve the loan.
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How were the common people affected by the surplus?
The common people affected by the surplus:
The common people were affected by this surplus by being put into cities rather than their property on the farm. This separated families because the men, women, and children were all working long days at the factories rather than the family dynamic that they had when working on the farm together.
The definition of surplus is something this is in excess of what you need. An example of surplus goods is gadgets you do not need and haven't any use for. An instance of surplus cash is money left over after you have got paid all of your payments.
A budget surplus occurs while government brings in extra from taxation than it spends. finances surpluses aren't always beneficial as they could create deflation and monetary growth. finances surpluses aren't always terrible or right, but extended intervals of surpluses or deficits can cause vast problems.
Army surplus is goods, typically matériel, which can be offered or in any other case disposed of when now not needed by the military. marketers often buy these goods and resell them at surplus shops.
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What is the major difference between a corporation and other kinds of businesses?
The major difference between a corporation and other kinds of businesses. Many, if not all, companies are joint-stock companies and vice versa. The company or other company may attempt to be incorporated. As a company, the company exists as a legal entity separate from the owner. Best of all, this means that the owner cannot be held liable for the company's debt.
A corporation is an entity owned by shareholders who elect a board of directors that oversees the activities of the organization. A company is responsible for its actions and finances, but its shareholders are not.
Unlike sole proprietorships, corporations are subject to limited liability.
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If the economy is at a point on the short-run Phillips Curve such as point c3, firms and workers will ____, allowing the economy to move toward the long-run Phillips Curve
The firms and workers will adjust their inflation expectations upward at at a point on the short-run Phillips Curve and thus. allowing the economy to move toward the long-run Phillips Curve.
What is the short-run Phillips Curve?As the Phillips curve is a graphic representation that depict the relationship between the rate of unemployment and rate of change of money wages, the short-run graph will show that in the short-term, there is a tradeoff between inflation and unemployment.
However, when the economy is a point on the short-run Phillips Curve, decision may be made by firms and workers to adjust their inflation expectations upward and this will allow the economy to move toward the long-run Phillips Curve.
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Under the theory of purchasing power parity, an increase in the U.S. price level of 10% relative to the Japanese price level will result in
Under the purchasing power parity theory, an increase in the U.S. price level of 10% relative to the Japanese price level will result in a 10% appreciation of the yen.
Rising US price levels mean that the value of the dollar has fallen. It means there will be an appreciation of the yen.
Purchasing power parity theory means that the prices of goods after currency exchange will be the same in each country. For example, if the price of Coca-Cola is 100 pence in the UK and $ 1.50 in the US, then according to PPP theory (US price divided by UK price), the GBP / USD exchange rate will be 1.50.
PPP is a currency conversion rate that equalizes the purchasing power of different currencies by eliminating price level differences between countries.
The base commodity PPP for each economic pair can be calculated directly by taking the geometric mean of the relative prices of the two rice varieties. A side-by-side comparison. PPP between economy B and A can be calculated indirectly: PPP C/A × PPP B/C = PPP B/A.
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waterway company purchased a computer system for $74,600 on january 1, 2019. it was depreciated based on a 7-year life and an $18,600 salvage value. on january 1, 2021, waterway revised these estimates to a total useful life of 4 years and a salvage value of $9,100. waterway uses straight-line depreciation.
Revised annual depreciation = $24,750.
The organization can calculate the revised depreciation by way of figuring out the last depreciable fee with the formulation of deducting the accrued depreciation and salvage price on the revision date from the unique value of the constant asset.
Depreciation fee: if the charge of cashflows (advantages) from the asset has improved or decreased, the entity might also regulate the depreciation price to be in shape. Residual cost of asset: the cost entity is looking forward to getting better on the quit of useful existence by means of scrapping or recycling the asset can be exclusive than anticipated.
If there may be a big alternate in an asset's predicted salvage cost and/or the asset's estimated beneficial life, the exchange in the estimate will result in a new quantity of depreciation price within the cutting-edge accounting yr and in the final years of the asset's beneficial life.
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40.0% complete Question Alpha partnership has 8 partners who have entered into a binding buy/sell agreement that requires the partnership to purchase the interest of any partner to die. How many policies are required to satisfy this arrangement
If Alpha partnership has 8 partners who have entered into a binding buy/sell agreement that requires the partnership to purchase the interest of any partner to die. The number of policies that are required to satisfy this arrangement is: 8 policies or one for each of the partner.
What is partnership?Partnership can be defined as a business that involve two parties or two or more people in which the parties involve in the business must tend to agree to the terms and condition of the contract and they must as well share the profit and loss generated from the business equally.
Assuming Alpha partnership has 8 partners who have entered into a binding buy/sell agreement which requires the partnership to purchase the interest of any partner to die the number of policies that are required to satisfy this arrangement is 8 policies, or one for each of the partner, are required at the entity level.
Therefore 8 policies is the number of policies required.
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Suppose an interest group offers you a discount on car repairs for joining. what kind of benefit is it offering?
a. informational
b. material
c. solidary
d. purposive
Suppose an interest group offers you a discount on car repairs for joining. The kind of benefit which is being offered is called solidary benefit.
A solidary benefit is another type of benefit offered to members of an interest group. A solidary benefit is one in which the rewards for participation are social and created out of the act of association.
Solidary benefit also social rewards, which lead people to join local or state political organizations. Those who find politics fun and they have interest in politics are sent to respond to Solidary incentives.
When you join an interest group, you are offered with a discount which is highly based on the kind of interest group which a person is joining. Suppose an interest group can offer you a discount on car repairs for joining.
Hence, this kind of benefit is called solidary benefit.
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Demonstrate your knowledge of preparing an adjusted trial balance by selecting the correct statement below.
The correct statement is b) An adjusted trial balance is prepared after adjustments are posted, so new accounts may need to be added.
An adjusted trial balance is prepared with the aid of growing a sequence of journal entries which are designed to account for any transactions that have now not been completed. Those gadgets encompass payroll fees, prepaid costs, and depreciation prices.
An adjusted trial balance lists the overall ledger account balances after any modifications had been made. Those changes commonly consist of those for prepaid and gathered expenses, as well as non-cash charges like depreciation. it is that simple.
The adjusted trial stability is used to prepare financial statements. The adjusted trial stability commonly has extra bills indexed than the unadjusted trial balance. The adjusted trial stability is a list of bills and their balances after adjusting entries have been posted.
The question is incomplete. Please read below to find the missing content.
Demonstrate your knowledge of preparing an adjusted trial balance by selecting the correct statement below.
a) An adjusted trial balance is a list of accounts and balances prepared before adjustments are posted.
b) An adjusted trial balance is prepared after adjustments are posted, so new accounts may need to be added.
c) The debit and credit column totals don't have to equal each other on an adjusted trial balance.
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When should you establish objectives for a risk management plan?
You establish objectives for a risk management plan long before you allocate any capital.
In order to reduce, monitor, and control the likelihood or impact of unpleasant events or to optimize the realization of possibilities, risk management involves the identification, evaluation, and prioritizing of risks. This is followed by the coordinated and efficient use of resources.
The process of discovering, evaluating, and controlling risks to an organization's resources and profits is known as risk management. These dangers can be caused by a number of things, such as monetary unpredictability, legal responsibilities, technological problems, strategic management blunders, accidents, and natural calamities.
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We should establish objectives for a risk management plan establishing when clear goals and risk factors for a potential investment are early on, and striving to achieve those goals and reduce or eliminate risk factors, can help you come up with new strategies on the fly when investment problems arise. It is almost always financially wiser than adopting.
As a management process, risk management takes a proactive and structured approach to identify and avoid the potential cost, schedule, and performance/technical risks to a system and manage negative outcomes, It is used to address them and identify potential opportunities as they arise. may be hidden in the situation
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A house is selling for $180,000 and the seller owes $140,000. The borrower is short $40,000 for the down payment, but the seller is willing to carry back $20,000 of the $40,000 equity as a second mortgage as long as the buyer agrees to pay $20,000 cash. This type of financing by the seller is called
This type of financing by the seller is called junior financing.
Finance for juniors: What is it?Having a lesser priority for repayment than senior debt, junior debt is a type of financing provided by the corporation. It is a category of corporate debt that, in the event of default, has a lower priority for repayment than senior debt. Junior debt may take the shape of bonds, debentures, or other debt securities.
They are extremely dangerous because they receive less preference for repayment. Junior debt carries higher interest rates compared to Senior debt (which receives first priority for repayment in the event of default). Here, the maxim High Risk/High Returns is also applicable. Mezzanine debt or Subordinated debt are the other names for junior debt.
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A coca-cola ad that highlights the firm's growing use of recyclable materials and other investments in sustainability is an example of __________.
A coca- cola ad that highlights the firm's growing use of recyclable materials and other investments in sustainability is an example of institutional advertising.
Institutional advertising is described as promotional activities which are used to improve the reputation of brand, and also build a positive image of a brand, or in order to encourage the support of a specific brand or organization.
Institutional advertising is different from other forms of advertising as it is not used to sell a specific product or service.
Institutional advertising is used to promote the brand or organization itself so that a sense of trust or respect can be created. The goal of institutional advertising is just to get the viewers to know about the brand in a very positive way .
When institutional advertising is implemented, a target group is determined. For this a proper message and a proper method of communication is also required.
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Labor content is increased by 10% while takt time remains the same. What is the percentage change in target manpower
The percentage change in target manpower is Increases by 10%.
What is Target Manpower ?The target manpower is the number of employees (or other resources) needed to operate the process at takt time if the work could be divided evenly between them .
The target manpower is the approximate number of resources you need to employ in order to achieve the takt time. It is calculated as follows:
Target Manpower = Labor Content/Takt Time,
Hence an increase in the labor content will simultaneously depict an increase in the target Manpower of the same as they are directly proportional to each other.
Therefore, we can conclude that the Correct Option is A . The percentage change in target manpower is Increases by 10%.
Your question is incomplete, but most probably your full question was:
Labor content is increased by 10% while takt time remains the same. What is the percentage change in target manpower?
A. increases by 10%
B. Decreases by 10%
C. No change
D. Cannot be determined
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For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the graph to identify its total variable cost. Assume that if the firm is indifferent between producing and shutting down, it will produce
Total variable cost is -44000 ,0, 244000.
TR = P * Q
TC = FC + VC
Profit = TR - TC
Price Q TR FC VC
10 6000 6000 * 10 = 60000 44000 =10 * 6000 = 60000
16 8000 16 * 8000 = 128000 44000 =10.5 * 8000 = 84000
40 12000 40 * 12000 = 480000 44000 =16*12000 = 192000
Profit
-44000
0
244000.
The main goal of a perfect competitor to maximize profits is to calculate the optimum production level where marginal cost (MC) = market price (P). As shown in the graph above, the point of profit maximization is where the MC intersects the MR or P.
This is the output when the marginal revenue from the last sold unit is equal to the marginal cost to produce it.
In order to maximize profits, companies need to produce in a place where marginal revenue and marginal cost are equal. The company's marginal production cost is $ 20 per unit. If the company produces 4 units, its marginal revenue is $ 20. Therefore, the company needs to produce 4 production units.
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An example of _____ is causing panic selling by telling people that value in a neighborhood will decline due to the purchase of homes by minorities.
An example of blockbusting is causing panic selling by telling people that value in a neighborhood will decline due to the purchase of homes by minorities.
What is blockbusting?blockbusting can be regarded as the act of profiteering through inducing property owners to sell hastily which do occur at a loss by appeals to fears of depressed values.
In this case, An example of blockbusting is causing panic selling by telling people that value in a neighborhood will decline due to the purchase of homes by minorities.
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Which term refers to the close in which the salesperson discounts the offer or improves the terms when the buyer rejects the first attempt to close?
Closing is generally defined in sales as the point at which a prospect or customer decides to make a purchase. Very few prospects will close themselves, requiring the salesperson's assistance. This can be unsettling, especially for new salespeople, because it exposes the salesperson to the prospect's rejection.
While closing the sale is required, it does not have to be a major undertaking. A salesperson who has done well in the early stages of the sales process will only need to nudge the prospect to begin the close. For instance, salesperson XYZ learns that customer ABC is interested in his product. In that situation, he doesn't need to promote or persuade.
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True or false: Networking uses technology, such as a company intranet, to link organizations and their suppliers to allow them to work together for a common goal. True false question. True
Answer: True
Explanation:
In what ways are clients/customers counting on 3pls for involvement with information technology-based services?
The following sections highlight how clients/customers rely on 3pls for engagement in information technology-based services.
• Currently, 3PL businesses provide more than 70% of warehouse and distribution center management services in IT-based services.
• In addition, they provide more than 60% of cargo monitoring, transportation management, web-enabled communication, and export-import freight forwarding.
• 3PL businesses contribute little to other services such as customer order management, supply chain planning, and supplier management systems. However, owing to the development of innovative and advanced technology, it is predicted to increase by 30% in the near future.
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What does it mean to invest your own risk?