B. When the law of diminishing returns kicks in, firms must add decreasingly more input to retain the same additional quantity of output.
When the law of diminishing returns kicks in, firms must increase input in decreasing amounts to continue producing the same amount of extra output. According to this rule, there comes a moment in the manufacturing process where increasing the input causes a correspondingly lesser rise in the output. The returns gradually decline with increasing input, and as a result, increasing input will no longer raise output at the same pace. As a result, businesses add fewer inputs to generate the same additional output. Especially in sectors where the cost of inputs is high, this idea is essential when making decisions about production.
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4. Four jobs are to be done on four different machines. The cost in rupees of
producing ith on the jth machine is given below. Assign the jobs to different machines
so as to minimise the total cost.
Jobs M1 M2 M3 M4
J1 15 11 13 15
J2 17 12 12 13
J3 14 15 10 14
J4 16 13 11 17
The total optimal solution based on the information will be 49 rupees.
How to calculate the valueHere, four jobs and four machines are given, with the assignment matrix.
Find out the each row minimum element and subtract it from that row
Find out the each column minimum element and subtract it from that column.
This assignment problem is being solved using Hungerian Method as the optimal solution is:
J1 to M2, J2 to M4, J3 to M1 and J4 to M3. The total optimal cost is:
= 11 + 13 + 14 + 11
= 49 rupees
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Employees might consider whether they can become self-employed in their field, which would enable them to take the QBI deduction.
True or False
It's true that employees can think about going into business for themselves in order to qualify for the QBI deduction.
By QBI deduction, what do you mean?QBI, which premium customers from partners, Limited companies, sole proprietorships, as well as certain trusts, is the net amount all qualified taxable income, gain, deduction, and loss from every qualified trade or business. The maximum deduction is 20 percent of taxable income less net capital gains, or the lesser of the QBI portion plus the REIT/PTP component. Qualified net profit (QBI) from a partnerships, Body corporate, or sole proprietor may qualified for the QBI deduction for individuals, trusts, and estates. The deduction is not available for any income you earn from a C corporation.
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There is only one labor market in Profunctia. All workers have the same skills, and all firms hire workers with these skills. Use the accompanying diagram, which shows the supply of and demand for labor, to answer the following questions.
What is the equilibrium wage rate in Profunctia?
The equilibrium wage rate in the labor market of the Profunctia for all workers of $10. The point where labor supply and demand converge is the equilibrium price wage rate.
Explain the term equilibrium wage rate?Up until the moment where the additional expense of employing someone equals the additional sales generated by selling their output, employees are recruited.
The concept of equilibrium wages is intimately connected to supply and demand forces in the market. As we have already shown, in fully competitive markets, supply and demand decide how much a good or service costs. The labor markets still hold true to this instance. According to the supply and demand for labor, wages change.Employment and equilibrium salaries are directly related in a market that is competitive. In such a perfectly competitive economy, the intersection of the labor supply and demand curves represents the pay equilibrium. According to traditional economic theory, the employment rate will be at its highest if salaries are entirely flexible. In addition to structural and cyclical unemployment, flexible wage rates guarantee that everyone in society has a job.Thus, the equilibrium wage rate in the labor market of the Profunctia for all workers of $10.
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TRUE/FALSE. a benefit of organic content promotion is the ability to develop and deliver highly targeted content to consumers who will find the content most relevant
It is true that benefit of organic content promotion is ability to develop and deliver highly targeted content to the consumers who will find content most relevant.
What is promotion?Promotion is a critical element of any business strategy. It is the process of promoting or advertising a product, service, or brand to a target audience to increase sales, brand awareness, and customer loyalty. Promotion can be done through various channels such as advertising, personal selling, public relations, sales promotion, and direct marketing. The primary aim of promotion is to influence consumer behavior by creating interest, desire, and action towards a product or service. It helps to differentiate a brand from its competitors and creates a positive image in the minds of the consumers. Effective promotion requires an understanding of the target audience, their needs and preferences, and the most effective communication channels to reach them.
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Freedom Of Enterprise Multiple Choice Is A Characteristic That Is Common To Most Economic Systems. In A Market System Means That Entrepreneurs Can Obtain And Use Economic Resources Without Any Legal Restraint. Allows Businesses, Within Broad Limits, To Choose What Goods To Produce Refers Primarily To The Right Of Consumers To Purchase What They Want.
Freedom of enterprise
Multiple Choice
A. is a characteristic that is common to most economic systems.
B. In a market system means that entrepreneurs can obtain and use economic resources without any legal restraint
C. Allows businesses within broad limits, to choose what goods to produce.
D. refers primarily to the night of consumers to purchase what they want
Answer: Allows businesses within broad limits, to choose what goods to produce.
Explanation:
You decide to open a restaurant in your neighborhood serving Italian fusion food. What market is this restaurant most like to me in – oligopoly or monopolistic competition and why? What do you believe the long term prospects are for profits and survivability of your eatery?
The restaurant industry (monopolistically aggressive nationwide) offers an example of a monopolistically aggressive market. In most areas, there are many firms, each is different, and entry is easy. Each product has many close substitutes bought by exclusive firms, which include different restaurants, fast-food outlets.
Why is the restaurant enterprise a appropriate example of monopolistic competition?Restaurants are a monopolistically aggressive sector; in most areas there are many firms, every is different, and entry and exit are very easy. Each restaurant has many close substitutes - these may additionally include other restaurants, fast-food outlets, and the deli and frozen-food sections at neighborhood supermarkets.
In general, restaurants fall below monopolistic opposition market structure
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https://brainly.com/question/2891218#SPJ4in a political economy context adam smith's book wealth of nations was an attack on which of the following popular economic theories of the age? free market economics imperialism bullionism communism
Adam Smith was written in opposition to the prevailing mercantilist economic doctrines. A common economic theory in the 16th to 18th centuries called mercantilism stated that a nation's wealth could be increased.
What did Adam Smith contribute most to the subject of political economy?An Inquiry into the Nature and Causes of the Wealth of Nations (1776), the book that made Adam Smith famous, contained Smith's description of a system of market-determined wages and free rather than government-constrained entrepreneurship.
What are Adam Smith's theories on economics?The division of labor, which proposes that workers should specialize in particular tasks, the invisible hand theory, and the method for measuring economic activity are among Smith's most well-known concepts that served as the foundation for economic theory (Gross Domestic Product).
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the department of public works (dpw) is
A. an enterprise fund providing solid waste management services and education programs to kent and surrounding counties. B. established by the board of commissioners and overseen by the board of public works, the department has two divisions: administration and solid waste operations.
C. the solid waste division has four primary functions: recycling and resource recovery, waste to energy, landfill and transfer station, and closed landfill remediation and environmental compliance. D. dpw administration provides support to the solid waste division through accounting, communications, and reporting.
A. Kent and the surrounding counties receive solid waste management services and activities from the department of public works (dpw), an enterprise fund.
What function does the Department of Public Works perform?The national Department of Public Works (DPW) creates and upholds laws and ordinances governing the built environment and the usage of fixed assets in the public sector.
What does a public works director do?A comprehensive public works program should be managed and directed. Organize, implement, and maintain departmental objectives, goals, and policies. Make necessary revisions based on an analysis and assessment of programs, policies, and operational requirements. Identify delicate issues, concerns, and needs that exist in the community and inside organizations.
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consider a downward-sloping demand curve. when the price of a normal good decreases, the income and substitution effects ________
Consider a downward-sloping demand curve. when the price of a normal good decreases, the income and substitution effects work in the same direction to increase quantity demanded.
A demand curve is a graphical representation of the relationship between the price of a product and the quantity demanded by consumers. It is a downward-sloping curve that shows how much consumers are willing to buy at different price points. As the price of a product decreases, the quantity demanded increases, and as the price increases, the quantity demanded decreases.
The demand curve is based on the principle that as the price of a product decreases, consumers are more willing to buy, leading to an increase in demand. Conversely, as the price increases, demand decreases. The demand curve helps businesses determine the optimal price to set for their products and services to maximize profits while meeting consumer demand,
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identify the total value of your household liabilities (including both secured and unsecured liabilities).
Total liabilities are all debts and liabilities that a person or company owes to third parties.
To calculate liabilities, simply write down the amount your company owes for all of its liabilities (present and future) and add them up. This may require the collection of bills, credit documents, and other important documents.
Everything the entity owns is classified as an asset and any amounts owed by the entity for future liabilities are recognized as a liability.
For most households, liabilities include taxes owed, bills owed, rent or mortgage payments owed, interest on loans and principal debt owed, etc. If you receive an advance payment for labor or services, the labor owed may also be construed as a liability.
Secured debt has collateral requirements, while unsecured debt does not. If you are using a secured loan such as For example, if you default on a car loan or mortgage, the lender can repossess your assets. Therefore, it is important to consider your repayment options.
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The discount yield for a treasury bill based on the current purchase price quoted by dealers is called the____
The discount yield for a treasury bill based on the current purchase price quoted by dealers is called the discount yield.
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How much more or less will Jackie pay for a purse in a perfect competition than in a monopoly?A) $20 more. B) $10 less. C) $20 less. D) $40 less.
the correct answer to the question is A) $20 more will Jackie pay for a purse in a perfect competition than in a monopoly.
In a perfect competition, there are numerous firms offering similar products, leading to a situation of price competition where prices are driven down to their marginal cost. On the other hand, a monopoly is a market where there is only one seller with significant market power, allowing them to charge a higher price than the competitive price. The difference in price between a monopoly and perfect competition can be significant, depending on the level of competition and the degree of market power. However, without further information about the market structure, it is difficult to determine the exact amount that Jackie would pay for the purse in each market. Therefore, none of the given answer options can be considered correct or incorrect without additional context about the market and the degree of competition
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Which of the following is an asset?a. Mortgage payableb. Investmentsc. Common stockd. Retained earnings
Money invested by the business's owner is what makes up owner's equity. Plus, the earnings of the business since its commencement.
Prepaid insurance is insurance that has been paid in full in advance, leaving the company with a receivable since the payment is not yet due. With time, it will be charged to an expense account. Notes; Liabilities and capital contra accounts are categorized as Payable, Unearned Revenue, and Owner Withdrawals. As a result, choice C—prepaid insurance—is accurate. The four components that go into calculating shareholders' equity are outstanding shares, additional paid-in capital, retained earnings, and treasury stock. An organization has enough resources to cover its liabilities on the off occasion that investors view it favorably. Owner's equity is made up of funds that the business's owner has invested. Additionally, the company's earnings since it started.
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people listening to a message on a topic that they consider a very little importance to them will pay more attention to things like the speakers appearance and reputation
People listening to a message on a topic that they consider is very important will probably follow the central route to persuasion.
Yes, people listening to a message on a topic that they consider to be very important are more likely to follow the central route to persuasion. The central route to persuasion is a type of cognitive processing that involves a careful evaluation of the message and its arguments, as well as the evidence presented to support those arguments. When individuals are highly motivated to process a message, they are more likely to engage in central processing, as they are more invested in forming a well-reasoned opinion or making a well-informed decision. Thus, the importance of the topic can influence the route of persuasion that individuals follow.
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People listening to a message on a topic that they consider is very important will probably follow the ________________ route to persuasion
As of 2019, the money market securities with the smallest dollar value outstanding (excluding Banker's acceptances) were
As of 2019, the money market securities with the smallest dollar value outstanding (excluding Banker's acceptances were a) commercial paper.
Unsecured, short-term debt issued by corporations is known as commercial paper. Short-term liabilities like payroll, accounts payable, and inventories are frequently financed in this way. The face value of commercial paper is typically discounted when it is issued. It displays current market interest rates.
A certain sum of money is involved with commercial paper, and it must be paid back by a specific deadline. The minimum amount is $100,000. Terms range from one to 270 days until maturity. 30 days is about average.
When New York merchants started to sell their short-term commitments to dealers in order to get funds needed to meet near-term obligations, commercial paper was first introduced more than 150 years ago.
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Correct question:
As of 2019, the money market securities with the largest dollar value outstanding were
a) commercial paper.
b) federal funds and repurchase agreements.
c) Treasury bills.
d) negotiable certificates of deposit.
Suppose Germany produces only cars and trucks. The resources that are used in the production of these two goods are not specialized—that is, the same set of resources is equally useful in producing both trucks and cars.
The shape of Germany's production possibilities frontier (PPF) should reflect the fact that as Germany produces more trucks and fewer cars, the opportunity cost of producing each additional truck ________ .
How would the graph look?
Based on the provided information, the shape of Germany's production possibilities frontier (PPF) should reflect the fact that as Germany produces more trucks and fewer cars, the opportunity cost of producing each additional truck remains constant. The graph will be a straight line.
The production possibility frontier (PPF) is a graph which demonstrates the possible quantities of two products that can be produced if both products depend upon the same resource for their manufacture. In the production of goods, opportunity cost refers to what is given up when resources are taken from one product to produce another.
In the given case, the same resources are used to produce trucks and cars. As Germany decides to produce more trucks and fewer cars, the resources that is being used in producing the additional truck is well suited to the production of trucks as resource is already in use in truck production. Hence, the opportunity cost of producing each additional truck remains constant.
As the opportunity cost of producing truck is constant, the curve would be a straight line as producing additional truck would required giving up fewer cars.
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Click and drag on elements in order List the steps in processing transactions in the correct order. - Post entry to ledger - Analyze transactions using the accounting equation - Record journal entry - Identify transactions and source documents
Identification of transactions and supporting documentation, accounting equation analysis of transactions, journal entry, and posting of entry to ledger.
Identify financial transactions and related source documents, including invoices, receipts, and purchase orders, are gathered and examined in this stage.
Analyze financial transactions using the accounting equation: In this stage, financial transactions are assessed using the accounting equation to make sure that the total assets are equal to the total liabilities and equity and that the transaction is balanced.
After the transactions have been examined, the next step is to record them using double-entry bookkeeping in the accounting journals, such as the sales journal, cash receipts journal, and general diary.
Posting an entry to the general ledger is the final step in posting the transactions that were made in the accounting journals to the correct accounts.
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Qatar earned the rank of first place in terms of gross domestic product because they Multiple Choice Ο ) ignored the rise of the global village. Ο embraced the idea of many national markets. Ο were the last country to openly trade, thereby learning from the others. Ο took advantage of the world becoming one market. did not showcase themselves allowing them to rise without notice.
Qatar capitalized on the globe becoming a single market to gain the top position in terms on gross domestic product.
Why is GDP significant and what does it mean?Gross domestic product, or GDP for short, is one of the most significant. This economic indicator measures the monetary worth of goods and services produced in the nation over a specific time period, ranging from food items to equipment, autos, and textiles.
Where does India stand in terms of GDP?India's GDP seems to be the fifth highest in the world, according to the newly published report Real Gdp by Country 2022. Despite this, India continues to lead the USA, China, Korea, and Europe.
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give two reasons for holding liquid assets. identify and briefly describe the popular types of liquid assets.
Two reasons for holding liquid assets are the need for emergency fund and investment opportunities.
Liquid assets are cash or near-cash assets that can be easily converted into cash without significant loss of value. Two reasons for holding liquid assets can be:
Emergency funds: Holding liquid assets can provide a financial safety net in case of unexpected expenses, such as a medical emergency, job loss, or home repairs. By having a cash reserve, individuals or companies can avoid having to sell investments or take on debt in a time of need.Investment opportunities: Holding liquid assets can also provide the flexibility to take advantage of investment opportunities as they arise. For example, if a company becomes available for acquisition at a good price, having cash on hand can allow the company to make a quick and attractive offer. Similarly, an individual may want to invest in a new business venture or take advantage of a short-term investment opportunity.Learn more about liquid assets here:
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a multiple predetermined overhead rate system is more accurate than a plantwide overhead rate system because it ____
Because it reflects differences in how overhead costs are incurred within departments, a multiple predetermined overhead rate system is more accurate than a plant-wide overhead rate system.
What is overhead rate?The overhead rate is the ratio of direct costs, sales, or other inputs, like machine hours, to overhead costs (rent and other administrative costs). It shows owners and managers how their company's indirect costs compare to, say, its direct manufacturing or gross sales costs.
Divide the monthly sales by the total monthly overhead costs of the business to get the overhead rate. To determine your overhead rate, divide this number by 100.
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Assume that the government increases the unit excise tax on gasoline suppliers and also that people commute longer distances to work as more houses are built in city suburbs. As a result, the equilibrium price and quantity of gasoline will most likely change in which of the following ways? Quantity Decrease Price (A) Decrease (B) Increase (C) Increase (D) Increase (E) Indeterminate Decrease Increase Indeterminate Increase
Assume that the government increases the unit excise tax on gasoline suppliers and also that people commute longer distances to work as more houses are built in city suburbs. As a result, the equilibrium price and quantity of gasoline will most likely change in Increase Indeterminate of the following ways.
What is the pricing equilibrium?
The balance between supply and demand determines an equilibrium price. Unless certain aspects of supply or demand alter, prices have a tendency to return to this equilibrium.
When either supply or demand shifts or moves, or when both do so, the equilibrium price changes.
What is the impact of the gas tax on the economy?
Because gasoline sales grow during times of strong state economies and high income and sales taxes, the existing gas tax provides revenues that are positively correlated with other tax receipts.
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If you hire a real estate company to sell your home, what are you likely to face?
If you hire a real estate company to sell your home, you are likely to face the Commission fees, Home valuation, Marketing and advertising, Negotiation, and Closing.
Commission fees: Real estate companies typically charge a commission fee for their services, which is usually a percentage of the sale price of your home. This fee is typically negotiated between the seller and the agent or company.
Home valuation: The real estate company will likely provide a home valuation to help you determine the appropriate price for your home based on current market conditions, comparable sales in the area, as well as the condition of your home.
Marketing and advertising: The real estate company will likely market and advertise your home to potential buyers through a variety of channels, such as online listings, print advertising, open houses, and direct mail.
Negotiation: The real estate company will likely negotiate on your behalf with potential buyers and their agents to reach an agreement on the sale price and other terms of the sale.
Closing: The real estate company will likely help you through the closing process, which includes the transfer of ownership and the distribution of funds.
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When purchasing a Disability Policy, which of the following factors will impact rates?Check all that apply) Group of answer choicesWaiting period before benefits start paying out.Length of time benefits pay.Amount of Disability Income purchasedReason for Disability
The correct answer is D. Reason for disability also affects cost or rates because if you have any health issues before policy the rate will be higher because of the High risk to your health
Disability is the revel in of any situation that makes it tougher for a person to do certain activities or have equitable access inside a given society. Disabilities can be cognitive, developmental, intellectual, mental, physical, sensory, or an aggregate of more than one factors.
Disabilities can be present from birth or can be acquired all through a person's lifetime. traditionally, disabilities have only been recognized primarily based on a slender set of standards—however, disabilities are not binary and can be found in particular characteristics depending on the individual. Incapacity can be without difficulty seen, or invisible in nature. Disabilities had been perceived otherwise at some point in history, via a variety of various theoretical lenses. There are two principal models that try to give an explanation for incapacity in our society: the clinical version and the social version. The medical model serves as a theoretical framework that considers disability as an undesirable scientific situation that calls for specialised remedy.
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Complete Question:
When purchasing a Disability Policy, which of the following factors will impact rates?
Check all that apply) Group of answer choices
A). Waiting period before benefits start paying out.
B). Length of time benefits pay.
C). Amount of Disability Income purchased
D). Reason for Disability
Classify the following adjusting entries as involving prepaid expenses (PE), unearned revenues (UR), accrued expenses (AE), or accrued revenues (AR).
a. to record revenue earned that was previously received as a cash advance.
b. to record annual depreciation expense.
c. to record wages expense incurred but not yet paid (nor recorded).
d. to record revenue earned but not yet billed.
e. to record expiration of paid insurance.
"To record revenue earned but not yet billed" adjusting entries as involving prepaid expenses (PE), unearned revenues (UR), accrued expenses (AE), or accrued revenues (AR). The correct option is D.
The unearned revenues are those revenue which is included on the balance sheet to calculate the total cost during the selling. It is the money which is received that have yet to the produced.
The prepaid revenues are the income which is received by the sellers for the products or services. The prepaid revenues is not asset but it is liability. On the balance sheet, prepaid expenses (PE), unearned revenues (UR), accrued expenses (AE), or accrued revenues (AR). are written for the check of the business's accounting.
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urrent items can be described as those expected to come due within one (month/year) and are listed in the order of how (quickly/slowly) they could be converted to or paid in cash.
Current items can be described as those expected to come due within one Year and are listed in the order of how quickly they could be converted to or paid in cash.
What items have been initially classified as assets but are eventually anticipated to become expenses?The value of prepaid expenses is first reported as an asset but is later expensed onto the income statement.
Are they listed in order of their due dates and those that are due within a year?Current obligations are those that have a one-year due date and are listed in that order. On the other hand, long-term obligations are payable whenever a year has passed.
What indicates the pace at which an asset can be converted into cash in respect to present assets?Businesses measure their ability to fulfill short-term financial obligations using liquidity. It acts as a barometer for how well your organization is able to convert its assets—or anything else it owns—into cash. Converting liquid assets into money is rapid and easy. Current obligations are those that are anticipated to become due within a year and are ranked according to how quickly funds could be changed into or paid for them.
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Even though foreign aid can help alleviate poverty in lower income countries, governments have to consider that it will not always lead to successful outcomes because of ______________ in these countries.
1. a lack of economic and legal stability
2. a lack of market oriented institutions
3. some unintended collateral damage (e.g. violation of human rights and lost livelihoods)
4. all of the above
Maria works for a company that specializes in document storage and shredding. She sells these services to companies of all sizes, from mom-and-pop retail stores to huge multinational corporations. In the course of a typical day, she responds to many types of sales leads. Which of the following would she classify as a hot and inbound lead?
A. Maria leaves a message for the operations manager at a large metropolitan hospital.
B. Maria cold-calls a medical records company and asks to speak with its document-storage manager.
C. Maria’s manager asks her to develop a plan for selling the company’s services to a new chain of restaurants that has recently begun operating in the region.
D. An operations manager at Apple sends Maria an email asking her to schedule a phone call to describe her company’s services.
E. The manager of a chain of retail stores responds to Maria’s email and tells her that he is satisfied with his current document-storage methods.
She would classify as a hot and inbound lead by an operations manager at Apple sends Maria an email asking her to schedule a phone call to describe her company’s services. So the option D is correct.
In the course of a typical day, she responds to many types of sales leads. She will contact potential customers via phone and email, set up site visits, provide quotes and answer any customer questions.
She also keeps track of her sales progress and updates her sales reports. Maria also works to identify new sales opportunities, build relationships with customers and develop new marketing strategies.
In addition, she must stay current on industry trends and maintain a professional network.
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Alternative price indexes Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator. The GDP deflator for this year is calculated by dividing the using using by the and multiplying by 100. However, the CPI reflects only the prices of all goods and services the base year's prices this year's prices Indicate whether each scenario will affect the GDP deflator or the CPI for the United States. Chi The GDP deflator for this year is calculated by dividing the b using using However, the CPI reflects only the prices of all goods and services bought by consumers Indicate whether each scenario will affect the GDP deflator or the Check all that apply. produced domestically
The GDP deflator for this year is calculated by dividing the value of all goods and services produced in the economy this year using this year prices.
The GDP deflator for this year is derived by dividing the total value of goods and services produced in the economy this year using current prices by the total value of foods and services produced in the economy this year using base year prices and multiplying by 100.
The CPI, on the other hand, solely reflects the prices of all goods and services purchased by customers. A consumer price index (CPI) tracks changes in the general level of prices for goods and services purchased by households for consumption.
However, because CPI is based exclusively on a basket of specific items and is calculated on prices included in it, it does not capture overall inflation.
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Correct question:
Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price index (CPI) and the GDP deflator.
The GDP deflator for this year is calculated by dividing the _____ using _____ by the ____ using ____ and multiplying by 100. However, the CPI reflects only the prices of all goods and services ______.
What would be the estimated time for completion if time estimates for programming are as follows: optimistic = 4 weeks; pessimistic = 6 weeks; realistic = 5 weeks?
If programming time estimations are as follows, the projected completion time would be 5 weeks: Realistically, 5 weeks; pessimistically, 6 weeks; and optimistically, 4 weeks.
What do you mean by a hopeful or pessimistic period?The optimistic time is the soonest that a task could possibly be completed. Pessimistic time: The maximum amount of time that should be needed to complete an activity. The most likely time, supposing no problems emerge, is the most precise estimate of how long a task should take.
Is it possible to forecast how long a specific task will take using both optimistic and pessimistic time estimates?Three time estimates (optimistic, pessimistic, and most likely) are obtained for each task on the Critical Path in order to execute PERT analysis. The shortest time necessary to perform a task, assuming everything goes more smoothly than is generally anticipated.
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Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year. points Skipped a. Accounts Receivable. At year-end, the L. Cole Company has completed services of $22,500 for a client, but the client has not yet been billed for those services. b. Interest Receivable. At year-end, the company has earned, but not yet recorded, $530 of interest earned from its investments in government bonds. c. Accounts Receivable. A painting company collects fees when jobs are complete. The work for one customer, whose job was bid at $1,580, has been completed, but the customer has not yet been billed. eBook Print View transaction list References Journal entry worksheet 2 3 At year-end, the L. Cole Company has completed services of $22,500 for a client, but the client has not yet been billed for those services. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Adjusting journal entry for each : On Dec 3 Account receivable will be debited $1580 and Fees revenue credited $1580
Adjusting entry :Date account and explanation Debit Credit
Dec 31 Account receivable 22500
Service revenue 22500
Dec 31 Interest receivable 530
Interest revenue 530
Dec 31 Account receivable 1580
Fees revenue 1580
What is the purpose of changing entries in a journal?Transactions that span accounting periods but have not yet closed are reconciled using adjusting journal entries. These could be expenses or payments that are made but not delivered at the same time.
What Kinds of Adjusting Journal Entries Are There?Accruals and deferrals are the two main categories. Deferrals are prepayments for products that have not yet been delivered, whereas accruals are payments or expenses on credit that are still owed.
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