The journal entry records the transaction by debiting the corporate expense by $2,800 and crediting the common stock by $1,000 with the remaining amount transferred to additional capital as $1,800.
What is a journal entry?Journal entry is passed in the accounting books to record the financial transactions made by a company. It shows a dual effect on every transaction where one account is debited and another account is credited.
The charge from the accountant is an expense for the company, that is, $2,800, the issue of common stock for payment is the equity of the company, that is, $1,000 and the excess amount left should be treated as additional capital in excess of par, that is, $1,800.
The journal entry is as follows:
Particulars Debit Amount Credit Amount
Corporate expenses $2,800
Common stock (200 shares X $5 ) $1,000
Additional capital ($2,800-$1,000) $1,800
Therefore, the journal entry is passed by making a debit of $2,800 to corporate expenses and a credit of $1,000 in common stock as well as $1,000 in additional capital.
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If a manager is in a direct chain of command and has formal authority over people and resources, this is a ______ manager.
If a manager is in a direct chain of command and has formal authority over people and resources, this is a line manager.
What is a line manager?A line manager serves as the manager that is accountable for their department, or part in the business.
They manage one or more members of staff and they have has formal authority over people and resources.
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All of the following are potential benefits of innovation EXCEPT: Group of answer choices improved quality (attributes) of existing products. new products that better satisfy customer needs. reduced costs of making products that customers want. certainty concerning demand for new product
The potential benefit of innovation is the improved quality (attributes) of existing products. The correct option is A.
What is innovation?Innovation is introducing new things and ideas.
The advantages of innovation are:
High relative advantageTrialabilityobservability CompatibilityLow complexityThus, the correct option is A, improved quality (attributes) of existing products.
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For Gundy Company, units to be produced are 5,000 in quarter 1 and 7,000 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $15 per hour. Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022.
The preparation of a direct labor budget for Gundy Company for the 6-months ending June 30, 2022, is as follows:
Gundy Company
Quarterly Direct Labor BudgetFor the 6 months ending June 30, 2022:
Quarter 1 Quarter 2
Production units 5,000 7,000
Labor-hour per unit 1.6 1.6
Total direct labor-hours 8,000 11,200
Hourly wage rate $15 $15
Total direct labor costs $120,000 $168,000
What is a direct labor budget?The direct labor budget is a budget that calculates the total labor hours required to produce the budgeted units, according to the production budget.
The total direct labor hours are used to multiply the wage rate per hour to obtain the total budgeted direct labor costs.
Data and Calculations:Quarter 1 Quarter 2
Production units 5,000 7,000
Labor-hour per unit 1.6 1.6
Total direct labor-hours 8,000 11,200
Hourly wage rate $15 $15
Total direct labor costs $120,000 $168,000
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Including positive personal qualities on your résumé can help compensate for lack of paid work experience. please select the best answer from the choices provided t f
Including positive personal qualities on your résumé can help compensate for lack of paid work experience.
What is a Resume?Resume serves as a document that include your relevant work history as well as skills according to the job you are applying for.
Therefore Including positive personal qualities on your résumé can help to give upper hand in job applications.
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The capital investment evaluation method that subtracts the initial investment from the discounted future net cash flows from the investment at the required rate of return is the:
Answer: net present value
Explanation:
In the hotly competitive auto industry, Geely faces high pressure for cost reductions. The company also sells its Volvo brand to the same high-income, safety-conscious buyer the world over. The best strategy for Geely is a(n) __________ strategy.
Global standardization is the best strategy for Geely to device when faces high pressure for cost reductions.
What is Global standardization?Global standardization serves as the marketing approach which involves using of standard marketing strategies to promote products internationally.
Conclusively, Global standardization can help a firm facing high pressure for cost reductions.
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In a standard cost system, costs are assigned to all of the following, except for: a.fixed overhead. b.direct materials. c.direct labor. d.variable overhead. e.None of these choices are correct.
In a standard cost system, costs are assigned to fixed overheads, direct materials, direct labor, and variable overhead.
What do you mean by Standard costing?Standard costing refers to the practice of creating the estimates or standard costs for all the activities of a company.
The main reason for using standard costs is that there are many applications where it is considered very time-consuming to collect the actual costs so standard costs can be used as a close approximation to actual costs.
Therefore, E is the correct option.
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If your company is issuing new semi-annual 10 year bonds at par, what coupon rate must they have if they are rated BBB
The coupon rate that the company issuing new semi-annual 10-year bonds at par with a BBB rating is 8%, given its 2% credit spread with the treasury bonds.
What is a credit spread?A credit spread shows the difference in the yield rate between a U.S. Treasury bond and another debt security that has the same maturity period but a different credit quality.
Data and Calculations:Treasury bonds rate = 6%
Credit Spread for BBB rating = 2%
Coupon rate for a BBB-rated company = 8% (6% + 2%)
Question Completion:Use the following information for this question:
Rating Credit Spread
AAA 0.50%
AA 0.75%
BBB 2.00%
10-year treasury bonds ($100 Par value) with semi-annual coupons and a 6% coupon rate have a price of $95.00.
Thus, the coupon rate that the company issuing new semi-annual 10-year bonds at par with a BBB rating is 8%, given its 2% credit spread with the treasury bonds.
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Reflect on the role of China throughout history in the global economy. Given China's influence today, what does your
economic future look like? What can be done about it?
China plays a major role in the global economy and without China's involvement in the global markets, other countries will have a tough time. Our future growth is associated with these global economies.
What is China's role in the global economy?Today, China is the second-largest economy in the world and produces 9.3 percent of global GDP.
China's exports grew by 16 percent annually from 1979 to 2009. At the beginning of that period, China's exports represented only 0.8 percent of global exports and seamless services.
Thus, China plays a major role in the global economy and we can try to be self-reliant and also have healthy business relations with for better business opportunities and growth.
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A firm is expected to pay a dividend of $2.00 next year and $2.14 the following year. Financial analysts believe the stock will be at their target price of $65.00 in two years. Compute the value of this stock with a required return of 8 percent. Select one:
Based on the dividends and the target price set by financial analysts, the value of the stock will be $57.40.
What is the value of the stock?This can be found as:
= Present value of first dividend + Present value of second dividend + Present value of stock price in 2 years
Solving gives:
= 2 / 1.10 + 2.14/1.10² + 65/1.10²
= $57.40
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occurs when employees at the acquired company willingly embrace the cultural values of the acquiring organization. Group of answer choices Deculturation Assimilation Separation Integration Negotiation
When employees at the acquired company willingly embrace the cultural values of the acquiring organization, it is known as assimilation.
What is assimilation?Assimilation is the process by which employees at a company that is being acquired embraces the culutural values of the company that is acquring them.
Cultural values differ among organisations. Thus, it is necessary for employee at the acquired company to embrace the change in order to ensure smooth running of the firm.
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True or false: A Balanced Scorecard framework allows companies to asses the value of IT investments in terms of contribution to strategic objectives
A Balanced Scorecard framework allows companies to assess the value of IT investments in terms of contribution to strategic objectives, is the true statement.
What is a balanced scorecard?The balanced scorecard is a strategic planning and performance management system that records financial and non-financial variables to determine the effectiveness of a business and when corrective action is required.
Companies can use a Balanced Scorecard framework to evaluate the value of IT investments in terms of their contribution to strategic goals.
This is because the scorecards provide management with valuable insight into their firm's service and quality in addition to its financial track record.
Therefore, the given statement is true.
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Now, use your paragraph to inform frankie about his options. in this paragraph, describe the economic concepts that you used to create your outline. explain in greater detail how each of these concepts will help frankie to make a decision to buy or not to buy a new pair of shoes.
Answer:
Explanation:
Sample response: Frankie should consider several strategies before buying a new pair of shoes. First, he should think about whether these shoes are a need or a want. Next, he should consider opportunity cost. If he buys the shoes, how else could he have spent that money? Could he have made better use of his resources? Finally, he must consider the issue of setting goals. He must identify whether this is a goal to accomplish now or in the future.
Athletics Corp., a sports shoe manufacturer, launches a new line of sports shoes. To promote the product, Athletics Corp. invites its customers to try on the shoes for a period of one week and get a feel of its features. This is an example of _______.
The promotion of sports shoes by the Athletics Corporation where they invite customers to utilize the shoes for a week and then decide whether to buy them or not is an example of experiential marketing.
What is marketing?Marketing is the process where a company promotes its goods or services in order to get potential customers. It can be done on an online basis by telecasting the advertisements on television or offline basis by creating pamphlets or hoardings on the roadside.
Experiential marketing is a type of marketing strategy where the customer purchases the product as per their own experiences. It is the most commonly used marketing strategy nowadays by the online shopping websites where they usually offer the first-month service to be absolutely free for the customers.
In the provided case, the Athletics Corporation provides one week's time to the customers to try on the sports shoes and then make a choice whether to keep those shoes or not.
Therefore, the weekly time period allowed by Athletics Company to their customers regarding usage of sports shoes is a kind of experiential marketing strategy.
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If a competitive firm is currently producing a level of output at which profit is not maximized, then it must be true that
If the competitive firm is currently producing at a level of output at which profit is not maximized then it must be true that the Marginal revenue is less than the Marginal cost.
What is Marginal revenue?Marginal revenue refers to the increase in revenue earned by the increase in the sale of one additional unit of output.
The primary purpose of a firm is to make a "Profit" in the Long-run.
The goal of a firm is to maximize profits and minimize losses, so a shutdown is near if a firm is operating at the level of output where marginal revenue is not equal to or lesser than marginal cost.
Thus, the Firm keeps expanding its operations and production activity as long as the Marginal revenue is more than the marginal cost.
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______ are full-time salaried employees and are paid by the county or state (or by both) to represent defendants who do not have the money to retain private counsel
Will has been very meticulous in managing his employees. They have come to believe that he will do exactly what he says he will when he interacts with them. This is the concept of ______.
Will has been very meticulous in managing his employees. They have come to believe that he will do exactly what he says he will when he interacts with them. This is the concept of trust.
What is the concept of trust?Trust is a faith in the likelihood that someone will act in a certain way. A mental attitude toward the concept that someone is dependable is known as trust.
Trust is a feeling of assurance and security that a partner is concerned about the person.
In the above case, Will has been diligent in his employee management. When he engages with them, they have learned to think that he will do exactly what he says he will. Then, this is defined as the concept of trust.
Therefore, he will is using the concept of trust.
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Suppose that a government decided to collect all of its revenue through a tax on tap water. Explain why this tax would or would not be fair.
Collecting revenue through a tax on tap water would not be fair because it is not based on the ability to pay.
What is tax fairness?Tax fairness can be described as a principle that states that a government's tax system should be equitable to all taxpayers.
Tax fairness advocates think that taxes should be based on the ability to pay of taxpayers.
The concept of ability to pay assumes that people with varying levels of wealth or income should pay varying levels of taxes.
Since collecting revenue through a tax on tap water is not based on the ability to pay, this tax would therefore not be fair.
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Even though president reagan campaigned on his plans to cut the size of government, government spending during his administration: fell only a little. went up slightly. doubled. fell dramatically.
Answer:
Doubled
Explanation:
for real
Assume Brandon can buy either 1 DVD for $20 or 3 CDs for $25. What is the opportunity cost if he decides to buy 3 CDs
Answer:
it yamom
Explanation:
The Chronicle sells a local neighborhood group running an all block yard sale a quarter-page ad for $180. There are 18,000 subscribers, so the cost per thousand (CPM) is
Based on the cost of the quarter-page ad per page, the cost per thousand charged by the Chronicle is $10 per page.
What is the cost per thousand charged?
This can be found by the formula:
= 1,000 x Cost of ad / Thousands of subscribers
Solving gives:
= 1,000 x 180/ 18,000
= 1,000 x 0.01
= $10
In conclusion, the CPM is $10.
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In noting that he had "yet to engage in a direct-action campaign that was ‘well timed,’" martin luther king, jr. , was most likely arguing against:.
Martin Luther King, Jr. was argued that African-Americans should be more patient and that civil rights should not be for all.
Who is Martin Luther King Jr?Martin Luther King Jr can be regared as an American Baptist minister as well as
activist who was the civil rights movement leader in 1955 .
Therefore, he stressed that African-Americans should be more patient and that civil rights should not be for all.
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Transaction Processing Systems (TPS) can make decisions using predetermined rules and processes. This is an example of a(n) _________ decision of a(n) ____________ control.
TPS can make decisions based on pre-defined rules and processes. This is an example of an operational control's structured decision.
What is Transaction Processing Systems?Transaction processing system is also denoted as TPS. It is a method of computing that breaks down work into discrete, indivisible activities known as transactions.
A transaction processing system is a software or may be hardware combination that facilitates transaction processing.
Therefore, the TPS is an example of a structured decision of an operational control.
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The monetary rule is the view of the: a.Monetarists that the Fed should expand the money supply at a constant rate. b.Monetarists that monetary policy is most important. c.Classical economists that monetary policy is most important. d.Keynesians that monetary policy is most important. g
The monetary rule is the view of the Monetarists that the Fed should expand the money supply at a constant rate.
What is Monetary rule?
The monetary rule states that there has to be constant monetary growth. Friedman, who died in 2006, proposed a monetary policy stating, stating that the Fed should be required to regulate inflation rate to match the rate of real GDP growth, leaving inflation unchanged.
Monetarism is a macroeconomic theory that governments can promote economic stability by targeting inflation.
In fact, a collection of ideas based on the belief that the total amount of money in the economy is the key to economic growth.
Thus, The monetary rule is the view of the Monetarists that the Fed should expand the money supply at a constant rate.
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In the context of the compensation of expatriate managers, a compensation system designed to match the purchasing power in a person's home country is called _____.
Answer:
The balance sheet approach.
A human resource department is evaluating its pay structure. A compensation specialist computes the compa-ratio of the designers and determines that it is 1.4. What problem is most likely to result from a compa-ratio of this size
The problem that is most likely to result from a compa-ratio of this size is when the company difficulty keeping costs under control.
What is a compa-ratio?This is a ratio that are used by compensation professionals to assess the competitiveness of an employee's pay level.
The ratio accesses the current pay rates as a percentage of range midpoints to know whether know wheter the employee is paid below or above market rates.
Howwver, when the compa-ratio of 1.4 is gotten, then, this happens because the company difficulty keeping costs under control.
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The step in which a salesperson meets the customer for the first time is the __________ step of the creative selling process.
The step in which a salesperson meets the customer for the first time is the approach step of the creative selling process.
Who is a saleperson?A salesperson can be defined as the person whose sole reponsibilities is to market and sell a company product to potentials customers or buyers.
When a sales person meet a customer for the first time, the sales person need to first approach the customers before marketing a product to the customer.
Therefore the step in which a salesperson meets the customer for the first time is the approach step.
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Managerial accountants:
a. create the company’s financial statements that are submitted to government agencies such as the Internal Revenue Service.
b. negotiate contracts with suppliers
c. create financial reports and provide other types of accounting information to investors.
d. provide managers within the organization with reports to make good business decisions.
Managerial accountants provide managers within the organization with reports to make good business decisions.
Who are Managerial accountants?They are account managers, they help a company to manage the financial account and hep to make decisions based on the trend on the account.
They also hep perform various task that is associated with the account.
Therefore, Managerial accountants provide managers within the organization with reports to make good business decisions.
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Why does Prof. St. Clair argue that allowing Lehman Brothers Investment Bank to fail in 2008 (i.e., during the Bush Administration) was a terrible decision?
According to Prof. St. Clair, allowing Lehman Brothers to fail in 2008 breached the Fed's primary mandate, and worsened the financial crisis of 2008.
What caused the Lehman Brothers' failure?The main cause of the failure of Lehman Brothers Investment Bank was its involvement in the subprime mortgage market.
Lehmann Brothers recorded unprecedented loss due to the 2008 subprime mortgage crisis.
The investment bank held onto large positions in subprime and other lower-rated mortgage tranches when securitizing the underlying mortgages.
Thus, according to Prof. St. Clair, allowing Lehman Brothers to fail in 2008 was a terrible decision because its failure breached the Fed's primary mandate, and worsened the financial crisis of 2008.
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A marketplace extended beyond traditional boundaries and removed from a temporal and geographic location is called a(n):
A marketplace extended beyond traditional boundaries and removed from a temporal and geographic location is called a marketspace.
What is a marketspace?A marketspace is a digital exchange environment. A digital exchange environment is common now due to a number of available technology.
Most everyone is always connected to the internet or their smart phones, enabling much digital exchange. It is a virtual market place in the commercial world, where the limitations of physical boundaries are not known.
Hence, a marketplace extended beyond traditional boundaries and removed from a temporal and geographic location is called a marketspace.
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