The estimated cost of raw material purchases for April is $313,200.
To estimate the cost of raw material purchases for April, we first need to calculate the raw material needed for production in April.
Since each unit of finished goods requires 4 pounds of raw materials, and the production budget for April is 27,000 units
the raw material needed for April's production would be: 27,000 units * 4 pounds per unit = 108,000 pounds of raw materials.
Next, we need to determine the amount of raw materials the company needs to maintain in inventory for May's production needs.
Since the company always maintains raw materials inventory equal to 15% of the following month's production needs, the raw material inventory needed for May would be: 28,800 units * 4 pounds per unit * 15% = 17,280 pounds of raw materials.
Therefore, the total raw material needed for April and May would be: April raw materials needed + May raw materials inventory = 108,000 pounds + 17,280 pounds = 125,280 pounds.
Finally, to calculate the estimated cost of raw material purchases for April, we multiply the total raw material needed by the cost per pound of raw materials: 125,280 pounds * $2.50 per pound = $313,200.
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on september 1, 2019, pitform corporation enters into an agreement with balen corp. to sell it $40,000 of goods. pitform will deliver the goods september 30, 2019. payment is due upon acceptance. acceptance is determined by both pitform and balen to be september 30, 2019. pitform produces the goods for a cost of $20,000. what september journal entries should pitform record for this transaction?
September journal entries for the transaction are as follows;
Debit Accounts Receivable $40,000
Credit Sales Revenue $40,000
Debit Cash $40,000
Credit Accounts Receivable $40,000
Debit Cost of Goods Sold $20,000
Credit Inventory $20,000
In order to record the September journal entries, we need to know the transactions first.
Transaction: On September 1, 2019, Pitform Corporation enters into an agreement with Balen Corp. to sell it $40,000 of goods.
Journal Entry:
Debit Accounts Receivable $40,000
Credit Sales Revenue $40,000
Transaction: Payment is due upon acceptance.
Journal Entry:
No entry is required since payment will only be made upon acceptance.
Transaction: Acceptance is determined by both Pitform and Balen to be on September 30, 2019.
Journal Entry:
Debit Cash $40,000
Credit Accounts Receivable $40,000
Transaction: Pitform produces the goods for a cost of $20,000.
Journal Entry:
Debit Cost of Goods Sold $20,000
Credit Inventory $20,000
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kansas enterprises purchased equipment for $77,000 on january 1, 2021. the equipment is expected to have a five-year life, with a residual value of $6,900 at the end of five years. using the double-declining balance method, the book value at december 31, 2022, would be: (do not round your intermediate calculations)
By using the double-declining balance method, the book value at December 31, 2022, would be $35,682.
To use the double-declining balance method, we need to calculate the straight-line depreciation rate first. This is done by subtracting the residual value from the initial cost and then dividing by the number of years of the asset's life. In this case, the calculation would be:
($77,000 - $6,900) / 5 years = $14,220 per year
Using the double-declining balance method, the depreciation expense for 2021 would be:
$77,000 x 2 x ($14,220 / 100%) = $27,098
The book value at the end of 2021 would be:
$77,000 - $27,098 = $49,902
For 2022, we need to apply the same depreciation rate to the book value at the beginning of the year, which is $49,902. The depreciation expense for 2022 would be:
$49,902 x 2 x ($14,220 / 100%) = $14,220
Adding the depreciation expense for 2021 and 2022 together gives us a total accumulated depreciation of $41,318. Subtracting this from the asset's initial cost gives us the book value at December 31, 2022:
$77,000 - $41,318 = $35,682
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apple is able to retain most of the profits from their industry and value chain because: group of answer choices apple does not invest as much in technology and research as their peers their products are relatively inexpensive to make compared to their competitor products apple has the best marketing in the industry apple designs their products and supply chains to their own advantage
Apple designs its goods and supply networks for its own benefit, allowing them to keep the majority of profits from its industry and value chain. Here option C is the correct answer.
Apple is known for its ability to design and manage its products and supply chains in a way that allows it to retain a large portion of the profits from its industry and value chain.
This includes designing products that are difficult for competitors to replicate, managing its supply chain to minimize costs and maximize efficiency, and leveraging its brand and reputation to command premium prices for its products.
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Complete question:
Apple is able to retain most of the profits from their industry and value chain because: group of answer choices
A - apple does not invest as much in technology and research as their peers their products are relatively inexpensive to make compared to their competitor products
B - apple has the best marketing in the industry
C - apple designs their products and supply chains to their own advantage
according to the theory of comparative advantage, a country will export a good only if group of answer choices it can produce it using less labor than other countries its productivity is higher in producing the good than the productivity of other countries in producing it. its wage rate in producing the good is lower than in other countries. its cost of producing the good, relative to other goods, is at least as low as in other countries. all of the above.
According to theory of comparative advantage, country will export a good only if its productivity will be higher in producing the good than the productivity of other countries in producing it. Option B is correct.
The theory of comparative advantage states that countries should specialize in producing goods and services in which they have a comparative advantage, meaning that they can produce more efficiently than other countries. This is determined by comparing the relative productivity of a country in producing a given good or service with the productivity of other countries.
While factors such as wage rates and production costs can influence a country's competitiveness, they are not the only factors that determine whether a country will export a particular good. For example, a country may have a comparative advantage in producing a good even if its wage rates are higher than in other countries, if its productivity is also correspondingly higher.
Hence, B. is the correct option.
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--The given question is incomplete, the complete question is
"According to the theory of comparative advantage, a country will export a good only if group of answer choices A) it can produce it using less labor than other countries B) its productivity is higher in producing the good than the productivity of other countries in producing it. C) its wage rate in producing the good is lower than in other countries. D) its cost of producing the good, relative to other goods, is at least as low as in other countries. E) all of the above."--
green owes unsecured creditors: rice, $9,000; vick, $5,500; young, $20,000; and zinc, $7,500. green has not paid any creditor since january 1, year 2. on march 15, year 2, green's sole asset, a cabin cruiser, was seized by xeno marine co., the holder of a perfected security interest in the boat. on july 1, year 2, rice, vick, and zinc filed an involuntarily petition to place green into bankruptcy under chapter 7 of the federal bankruptcy code. if green opposes the involuntary petition, the petition will be
The petition will be granted if Green has 12 or more unsecured creditors and at least 3 of them, whose claims are not contingent as to liability or subject to bona fide dispute as to liability or amount, hold claims totaling at least $16,750.
In this case, Green has four unsecured creditors, and their claims are not contingent as to liability or subject to bona fide dispute as to liability or amount. Therefore, if Rice, Vick, and Zinc's claims total at least $16,750, the involuntary petition to place Green into bankruptcy under chapter 7 of the federal bankruptcy code will be granted. Adding up their claims, their total is $22,000, which is more than the required amount of $16,750, so the involuntary petition will likely be granted.
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miguel is a new salesperson for imperial realty. dissatisfied with the lack of mentoring he has received, he decides to work for millennium real estate instead, and has his license transferred. at the time of the switch, he had listed two properties. what happens to his listings? group of answer choices miguel can keep the listings; they belong to him miguel cannot keep the listings; they belong to imperial realty the listings will stay with imperial realty, but when the properties sell, imperial will still compensate miguel directly the commission will be divided on a prorated basis between imperial and millennium
Real estate listings are the sole property of the broker who has received them. If a salesperson working for the brokerage resigns, the listings would stay with the broker.
When a salesperson is employed by a brokerage company, they work under the brokerage's license, which is issued by the real estate regulatory body in the jurisdiction where the brokerage is registered. The licensing body has approved the brokerage to act as a property manager and to hire salespeople to perform real estate transactions on its behalf. Therefore, the listings belong to Imperial Realty, and Miguel cannot keep them. If the listings sell, Imperial Realty will receive the commission, not Miguel.
It is because the properties were listed under Imperial Realty's license. Miguel may start his real estate business, and he may have to list those properties again under the new brokerage company. In that case, the new brokerage will receive the commission when the properties sell. Therefore, a salesperson cannot take the listings with him/her after leaving a brokerage. The broker owns the listings, and the salesperson is only authorized to advertise them on the broker's behalf.
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jack is getting ready to retire. he has a salary of $100,000 and is saving 15% annually in his 401k plan and he just made his last principal and interest monthly payment on his mortgage of $2,350. his home is now debt free. what would you recommend
When Jack is getting ready to retire and he has a salary of $100,000 and is saving 15% annually in his 401(k) plan, the recommended wage replacement ratio, assuming he wants to maintain his lifestyle, is 85%. Option A is correct.
Assuming Jack's current salary of $100,000 is a good estimate of his income needs in retirement, he would need to replace 85% of that income, or $85,000 annually. Assuming a 4% safe withdrawal rate, he would need a retirement portfolio of $2,125,000.
Jack's 401(k) plan savings rate of 15% is a good start, but he may want to consider increasing his savings rate or contributing to additional retirement accounts such as an IRA or Roth IRA to reach his retirement savings goal.
Additionally, since Jack's mortgage is now paid off, he may have more disposable income to contribute towards retirement savings or other goals. It's important for Jack to regularly review his retirement plan and adjust his savings rate and investment strategy as needed to ensure he reaches his retirement goals.
Thus, Option A is correct.
The complete question:
Jack is getting ready to retire. He has a salary of $100,000 and is saving 15% annually in his 401(k) plan. He just made his last principal and interest monthly payment on his mortgage of $2,350. His home is now debt free. What would you recommend regarding a wage replacement ratio, assuming he wants to maintain his lifestyle?
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9. elmdale enterprises is deciding whether to expand its production facilities. although long-term cash flows are difficult to estimate, management has projected the following cash flows for the first two years (in millions of dollars): revenues costs of goods sold and operating expenses other than depreciation depreciation increase in net working capital capital expenditures marginal corporate tax rate year 1 year 2 108.2 156.1 36.6 36.6 24.2 38.6 5.1 8.9 32.1 42.5 43% 43% problems 303 a. what are the incremental earnings for this project for years 1 and 2? b. what are the free cash flows for this project for the first two years?
The incremental earnings would be 42.3 million and 72.6 million dollars for the two years. Free cash flows for this enterprise to expand its production for the first two years will be 20.73 million dollars and 53.57 million dollars.
a)For year 1: Incremental earnings = Revenues - Costs of goods sold and operating expenses other than depreciation - Depreciation - Increase in net working capital
= 108.2 - 36.6 - 24.2 - 5.1
= 42.3 million dollars
For year 2: 156.1 - 42.5 - 32.1 - 8.9
= 72.6 million dollars
b)For year 1: Free cash flow = Incremental earnings - Capital expenditures * (1 - Marginal corporate tax rate)
= 42.3 - 38.6 * (1 - 0.43)
= 20.73 million dollars
For year 2: 72.6 - 32.1 * (1 - 0.43)
= 53.57 million dollars
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several advertisements announce that the price of hand sanitizer will be increasing next month. at the same time, the price of rubbing alcohol, an ingredient used to make hand sanitizer, has increased. given these two effects, what can we say about the current equilibrium price and quantity of hand sanitizer? group of answer choices equilibrium price will increase, equilibrium quantity will decrease. equilibrium price will increase; the effect on quantity is ambiguous. equilibrium quantity will decrease; the effect on price is ambiguous. equilibrium quantity will increase; the effect on price is ambiguous.
The effect on the equilibrium quantity is ambiguous.
When the price of the ingredient used to make hand sanitizer, such as rubbing alcohol, increases, this affects the supply of hand sanitizer. The reason for this is that it makes producing hand sanitizer more expensive. As a result, the supply curve for hand sanitizer will shift to the left.
The supply of hand sanitizer will decrease, and the equilibrium price will increase. The equilibrium quantity of hand sanitizer is ambiguous, which means it's difficult to determine what effect the price increase of rubbing alcohol will have on the quantity demanded of hand sanitizer. This is because the demand for hand sanitizer also plays a role in determining the equilibrium quantity, and it's uncertain whether the increase in price will cause a decrease in demand.
For example, it's possible that the increase in the price of hand sanitizer could cause consumers to switch to other substitutes such as soap and water. This would cause the demand for hand sanitizer to decrease, which could offset the increase in the price of the good. However, it's also possible that the demand for hand sanitizer remains constant, and the increase in price causes a decrease in the quantity demanded.
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you own 20% of the stock of a company that has 10 directors on its board. how much representation can you get on the board if the company has cumulative voting? how much representation can you ensure if the company has straight voting?
A firm with ten directors on its board holds 20% of your shares. By casting all of your votes for 22 directors in a cumulative voting or election, you can achieve proportional representation by filling 22 board seats (20% of ten).
By casting all of your votes for four directors in a cumulative voting system, you may elect representatives to four board seats (or 40% of the 10 seats available), giving you proportional representation.
Using a voting technique known as cumulative voting can assist minority shareholders have a stronger voice in choosing directors. One candidate for the board of directors may receive all of the votes from shareholders using this procedure.
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when the federal reserve conducts open-market operations to increase the money supply, it group of answer choices decreases the amount of deposits that banks must keep on hand. buys government bonds from the public. raises the discount rate. decreases its lending to member banks.
Trades in or out of government bonds. As one purchases bonds, the money supply rises; when one sells bonds, it falls.
Bonds known as dual currency bonds are those for which capital is raised in one currency but redemption occurs in a different one. A dual currency bond has two different currencies as its principal and coupon rate. A rise in the issue of dual currency bonds during the low interest rate years of 1995 and 1996 was mostly caused by Japanese investors looking for income options that were not accessible domestically. Among the oldest and most successful currency-linked fixed income securities, dual currency bonds have endured in popularity. In the late 1980s, the securities were issued through a private placement, with Japanese insurers providing funds to American and European issuers.
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a fraud perpetrator is able to convince a potential victim that he will receive a large bonus if he supports him in a fraud scheme. which type of power is the fraud perpetrator using?
A fraudster can persuade a potential victim that joining his fraud plan will result in a sizable bonus. D. Kiting is the one utilizing fraud.
Prospective victims are those who have not yet been victims of trafficking but are at risk of becoming victims because of their susceptibility or other factors. Pretexting is the practice of fraudsters calling potential identity theft victims while pretending as company employees to validate data they have already gathered. typically for financial gain. Potential lenders are alerted by a fraud notice that you may be a victim of identity theft. It gives creditors particular instructions to follow in order to help protect you, which can make it more difficult for others to get bin your name. Receiving credit may be impossible if you receive a fraud warning.
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based on the information below, what amount of impairment loss would be reported? assetfair valueestimated future cash flowsbook value equipment$ 25,000$ 36,000$ 30,000 truck34,00045,00042,000 building135,000138,000140,000
The impairment loss to be reported is $8,000 for the truck.
To determine the amount of impairment loss, we need to compare the fair value, estimated future cash flows, and book value of each asset.
For the equipment, the fair value is $25,000, which is lower than its book value of $30,000. However, the estimated future cash flows of $36,000 are higher than the book value. Therefore, there is no impairment loss to report for the equipment.
For the truck, the fair value is $34,000, which is lower than its book value of $42,000. Additionally, the estimated future cash flows of $45,000 are higher than the book value, but not enough to cover the difference between the fair value and book value. Therefore, an impairment loss needs to be reported for the truck.
The impairment loss for the truck is calculated as:
Book Value - Fair Value = $42,000 - $34,000 = $8,000
For the building, the fair value and estimated future cash flows are both higher than the book value, so there is no impairment loss to report.
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you have been asked to perform a stock valuation prior to the annual shareholders' meeting next week. the two models you have selected to value the firm are the dividend discount model and the discounted cash flow model. explain why the estimates from the two valuation methods differ. address the assumptions implicit in the models themselves as well as those you made during the valuation process.
The estimates from the dividend discount model and the discounted cash flow model may differ because these two models make different assumptions and rely on different inputs.
The dividend discount model values a stock based on the present value of its future dividends, while the discounted cash flow model values a stock based on the present value of its future free cash flows.
One key difference between the two models is their treatment of earnings that are not paid out as dividends. The dividend discount model assumes that only dividends provide value to shareholders, while the discounted cash flow model takes into account the value of earnings that are retained and reinvested in the business. This can result in different valuations if a company has a high proportion of retained earnings.
In addition, the two models may rely on different assumptions about growth rates, discount rates, and other inputs. These assumptions can have a significant impact on the resulting valuations. During the valuation process, it is important to carefully consider these assumptions and to use reasonable and well-supported inputs to obtain accurate and reliable valuations.
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executive financial services, inc. (efs), purchased three tractors from tri-county farm company (tri-county), a john deere dealership owned by gene mohr and james lloyd. the tractors cost $48,000, $19,000, and $38,000. efs did not take possession of the tractors but instead left the tractors on tri-county's lot. efs leased the tractors to mohr-loyd leasing (mohr-loyd), a partnership between mohr and loyd, with the understanding and representation by mohr-loyd that the tractors would be leased out to farmers. instead of leasing the tractors, tri-county sold them to three different farmers. efs sued and obtained judgment against tri-county, mohr-loyd, and mohr and loyd personally for breach of contract. because that judgment remained unsatisfied, efs sued the three farmers who bought the tractors to recover the tractors from them. did mohr and loyd act ethically in this case? who owns the tractors, efs or the farmers? executive financial services, inc. v. pagel, 238 kan. 809, 715 p.2d 381, 1986 kan. lexis 290 (supreme court of kansas)
According to the facts given, Mohr and Lloyd, the proprietors of Tri-County Farm Company, did not behave properly in this instance. They sold three separate farms the tractors that EFS had rented to them instead of leasing them to farmers as they had represented to EFS. Due to this violation of contract, EFS sued and won a judgement against Tri-County, Mohr-Lloyd, and Mohr and Lloyd individually.
Who controls the tractors will be determined by the conditions of the lease deal between EFS and Mohr-Lloyd. If the lease agreement explicitly specified that EFS maintained possession of the tractors and that Mohr-Lloyd had no power to transfer them, then EFS would be the legitimate owner. If, on the other hand, the lease arrangement was ambiguous or did not mention ownership, it could be claimed that Mohr-Lloyd had the power to sell the tractors and that the farmers who bought them had a legitimate claim to ownership.
The Supreme Court of Kansas did not explicitly discuss the question of tractor ownership in the case of Executive Financial Services, Inc. v. Pagel, as the case mainly concentrated on whether EFS could recover the tractors from the farmers who purchased them. The court eventually decided that EFS had the right to reclaim the tractors from the farms because they were not bona fide purchasers for value without knowledge of EFS's interest in the tractors.
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which type of pay structure is feasible if all jobs are benchmark jobs and direct matches can be found in the market?which type of pay structure is feasible if all jobs are benchmark jobs and direct matches can be found in the market?market-based pay systemcompetency-based pay systemskill-based pay systemgain-sharing
A market-based pay system is feasible if all jobs are benchmark jobs and direct matches can be found in the market.
A market-based pay system refers to a system in which salaries are determined based on the current job market. In essence, employees are paid a salary that is comparable to what other businesses in their industry are paying for similar positions. Employees in market-based pay systems may get raises when they gain knowledge or experience or when they advance to a higher job level. However, their pay increases might also be determined by the external market, which means that their compensation is based on the competitiveness of the local job market.A market-based pay system is feasible if all jobs are benchmark jobs and direct matches can be found in the market. Benchmarking entails comparing your company's job positions to those of other businesses. The aim is to determine if your company is paying a competitive salary for similar jobs in your market area. Direct matches refer to positions in other firms that are substantially similar to positions in your organization.A market-based pay structure is the most effective pay system for attracting and retaining employees because it is based on market competition. This implies that pay rates are determined by how competitive the local job market is. This pay system takes into account the external market for jobs, which can fluctuate dramatically over time.
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briefly explain whether each of the following statements is true or false. a. if the demand and supply for a product both increase, the equilibrium quantity of the product must also increase b. if the demand and supply for a product both increase, the equilibrium price of the product must also increase c. if the demand for a product decreases and the supply of the product increases, the equilibrium price of the product may increase or decrease, depending on whether supply or demand has shifted more. 4.
a. False. If both the demand and supply for a product increase, the equilibrium quantity of the product may increase, decrease, or remain unchanged, depending on the magnitude of the shifts in demand and supply.
b. False. If both the demand and supply for a product increase, the equilibrium price of the product may increase, decrease, or remain unchanged, depending on the magnitude of the shifts in demand and supply.
c. True. If the demand for a product decreases and the supply of the product increases, the equilibrium price of the product may increase, decrease, or remain unchanged, depending on the relative magnitude of the shifts in demand and supply. The direction of the change in equilibrium price will depend on which shift is larger in magnitude. If the increase in supply is larger, the equilibrium price may decrease; if the decrease in demand is larger, the equilibrium price may also decrease.
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what is the laffer curve? a curve illustrating a legally established minimum price buyers must pay for a good or resource. a graphical representation of the relationship between the price of a certain commodity and the amount of it that consumers are willing and able to purchase at any given price. a graphical representation of the relationship between the price of a good or service and the quantity supplied for a given period of time. a curve illustrating the relationship between the tax rate and tax revenues.
The Laffer Curve is a graphical representation of the relationship between tax rates and tax revenues. It was first proposed by economist Arthur Laffer in the 1970s and suggests that there is an optimal tax rate that maximizes government revenue.
According to the Laffer Curve, if tax rates are too high, they can discourage work, investment, and entrepreneurship, leading to a decrease in taxable income and ultimately a decrease in tax revenue. On the other hand, if tax rates are too low, there may not be enough revenue to fund government spending programs. The Laffer Curve implies that there is a trade-off between tax rates and government revenue, and that the optimal tax rate depends on various factors, such as the level of economic activity and the behavior of taxpayers.
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what is the price today (in dollars and cents) of a stock whose dividend per share is currently $1.75 and who expects to pay this same dividend per share at the end of each future year forever? that is, the assumption is that the current dividend per share will never change. the stock's required rate of return is 7.45%.
The price of the stock today is $23.43. To calculate the price of the stock, we can use the constant growth formula for perpetuity:
The price of a stock with constant dividend payments can be calculated using the Gordon growth model, which assumes that the stock's dividend grows at a constant rate indefinitely. The formula for the model is P = D/(r-g), where P is the current stock price, D
Price = Dividend / (Required Rate of Return - Growth Rate)
Since the dividend per share is expected to remain constant forever, the growth rate is zero. Thus, we can plug in the given values:
Price = $1.75 / (0.0745 - 0) = $23.43 (rounded to the nearest cent)
Therefore, the price of the stock today is $23.43.
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Caitlyn wrote the following sentences:
Angelo is my big, fat cat. He became big and fat when we fed him the wrong food. The veterinarian said he was too big and fat and needed an exercise program.
Why does Caitlyn need a thesaurus?
a.
The sentences repeat the same words
c.
The words used lack creativity
b.
The sentences all begin with the same word
d.
None of these
Please select the best answer from the choices provided
A
B
C
D
Answer: The sentences repeat the same wordds
a firm finds that whether it produces 30,000 vases or 40,000 vases, its average total cost is $180. this observed pattern might be explained by multiple choice diminishing marginal productivity. economies of scale. diseconomies of scale. constant returns to scale.
The observed pattern of the constant average total cost is likely due to constant returns to scale, where the cost per unit remains the same as output increases.
The firm's observed trend of having the same average total cost of $180 when making 30,000 or 40,000 vases indicates that it is experiencing consistent returns to scale. Constant returns to scale arise when growing output by a certain percentage results in an increase in overall expenses.
In other words, the firm's production process does not experience economies of scale (cost reductions as output rises) or diseconomies of scale (cost increases as output decreases), but rather a constant cost structure across its production scale.
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xr transport, inc. offers to sell a truckload of palettes to rapid delivery company. before rapid accepts the offer, xr calls rapid to say that the palettes have been sold to speedy trucking corporation and that it is revoking the earlier offer to rapid. xr is group of answer choices not liable, because it revoked the offer to rapid. liable to speedy for breach of contract. liable to rapid for breach of contract. not liable, if qt offers substitute goods to rapid.
XR Transport, Inc. is liable to Rapid for breach of contract if Rapid accepted the offer to purchase the truckload of palettes.
Once Rapid accepted the offer, a contract was formed, and XR Transport, Inc. had a legal obligation to sell the palettes to Rapid.
By revoking the offer and selling the palettes to another party, XR Transport, Inc. breached the contract with Rapid.
XR Transport, Inc. may also be liable to Speedy for breach of contract, depending on the terms of the agreement between the two parties.
If XR Transport, Inc. offers substitute goods to Rapid that are of the same quality and price as the palettes originally offered.
Then XR Transport, Inc. would not be liable to Rapid for breach of contract.
However, this would depend on the specific circumstances and terms of the contract between XR Transport, Inc. and Rapid.
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1: "How did Great Buy handle the return?" asks Sam.
"They promptly sent us two replacement monitors on October 10, as soon
as we returned the damaged ones," Monique replies. "And on October 28,
they sent us an invoice for the entire order. We paid them with a check that
same day."
Monique shows Sam the invoice from Great Buy, which reflects the two
replacement monitors that Berthold's received after returning the damaged
ones and asks him to process it for payment.
DESCRIPTION
Computer monitors (original order, $350 x 8)
Computer monitors (replacements, $350 x 2)
TOTAL:
AMOUNT
8 of 12
$2,800
$700
$3,500
What information would be recorded in the Accounts Payable ledger, which
had a previous balance of $2,800?
The resulting balance in the Accounts Payable ledger after these transactions would be a credit balance of $300 (i.e., $2,800 credit balance - $700 debit + $3,500 credit).
Why it is?
Based on the information provided, the following transactions would be recorded in the Accounts Payable ledger:
A credit entry for the original order of 8 computer monitors for $2,800, which was the previous balance in the ledger.
A debit entry for the two replacement monitors received on October 10, for a total of $700.
A credit entry for the payment made by Berthold's with a check on October 28, for the total amount due of $3,500.
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the equilibrium price of a good or service in a competitive market is group of answer choices a reflection of the opportunity cost of producing the product. lower than it should be because bankruptcies are common in competitive markets higher than the opportunity cost of producing the product. higher than it should be because profits are included in the price.
The equilibrium price of a good or service in a competitive market is a reflection of the opportunity cost of producing the product.
In a competitive market, the equilibrium price occurs where the quantity demanded equals the quantity supplied, reflecting the cost of resources used in production and the value placed on the product by consumers.
A competitive market is a market in which a large number of producers compete with one another to sell a homogenous commodity or product. The buyers also compete for purchasing that product because it is identical in nature to the other products. A competitive market is a market that operates according to the laws of supply and demand.
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what promotion mix tool can be especially important when an organization faces a crisis that it must diffuse?
When an organization is facing a crisis that it must diffuse, the promotion mix tool that can be especially important is public relations.
Public relations is the practice of building and maintaining relationships between an organization and its various stakeholders, including customers, employees, investors, and the general public. It involves using various communication channels, such as media relations, community outreach, and crisis management, to influence perceptions and attitudes toward the organization.
During a crisis, public relations can play a crucial role in diffusing the situation by managing the flow of information and providing a clear and transparent response to stakeholders. Public relations professionals can use various tactics, such as media statements, press conferences, social media updates, and community outreach, to communicate with stakeholders and provide accurate information about the crisis and the organization's response.
By using public relations effectively, an organization can help to minimize the negative impact of a crisis and maintain the trust and support of its stakeholders. This can be especially important in protecting the organization's reputation and ensuring its long-term success.
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hannah and ashni have started a fruit stand business in a rented store front. for this year, they bought fruits for $400,000, they ran ads in the local paper for $5,000. during the same period, they sold $600,000 of fruits and paid $100,000 in payroll for the two of them? what is their operating income?
Their operating income is $95,000, calculated as revenue ($600,000) minus expenses ($405,000) minus payroll expenses ($100,000).
Operating Income = Revenue - Expenses - Payroll Expenses
Revenue = $600,000 Expenses = $400,000 + $5,000 = $405,000
Payroll Expenses = $100,000
Operating Income = $600,000 - $405,000 - $100,000
Operating Income = $95,000
Therefore, Hannah and Ashni's operating income for the year is $95,000.
Operating income is a measure of a company's success that shows money from activities minus costs such as the cost of products sold, operating expenses, and salary expenses. It shows how much profit a firm makes from its main business operations.
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in accounting, the term translation refers to group of answer choices the procedure required to identify a company's functional currency. the calculation of gains or losses from all transactions for the year. the calculation of exchange rate gains or losses on individual transactions in foreign currencies. a procedure to prepare a foreign subsidiary's financial statements for consolidation. the calculation of gains or losses from hedging transactions.
In accounting, the term translation typically refers to the procedure required to prepare a foreign subsidiary's financial statements for consolidation.
This process involves converting the subsidiary's financial statements from its local currency to the reporting currency of the parent company. The reason for this procedure is to ensure that all financial information is presented in a consistent manner, regardless of the subsidiary's location.
The functional currency of the subsidiary is determined based on the primary economic environment in which it operates. This is typically the currency of the country in which it is located, but there may be instances where a different currency is more appropriate.
Once the functional currency is determined, the subsidiary's financial statements are translated into the reporting currency using the current exchange rate. This process can result in gains or losses from exchange rate fluctuations, which are recorded in the consolidated financial statements.
It's important to note that translation is different from the calculation of gains or losses from individual transactions in foreign currencies. These gains or losses are typically recorded as part of the underlying transaction and are not related to the translation process.
In summary, translation in accounting refers to the process of preparing a foreign subsidiary's financial statements for consolidation in the reporting currency of the parent company. It involves converting financial information from the local currency to the reporting currency using the current exchange rate and can result in gains or losses from exchange rate fluctuations.
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during the year, paisley company reports net income of $50,000 and declares and pays dividends of $10,000 on its nonconvertible preferred stock. dividends declared and paid on common stock amount to $8,000. there are 12,000 shares of outstanding common stock for the entire year. the basic earnings per share for paisley would be a.$2.67. b.$3.33. c.$4.17. d.$3.50.
The answer is (a) $2.67. The basic earnings per share (EPS) can be calculated as the net income minus preferred dividends, divided by the weighted average number of common shares outstanding.
Here are the calculations:
Net income: $50,000
Preferred dividends: $10,000
Dividends on common stock: $8,000
Net income available to common shareholders: $50,000 - $10,000 - $8,000 = $32,000
Weighted average number of common shares outstanding: 12,000 (since there were no stock issuances or repurchases during the year)
Therefore, the basic EPS for Paisley Company would be:
Basic EPS = Net income available to common shareholders / Weighted average number of common shares outstanding
Basic EPS = $32,000 / 12,000
Basic EPS = $2.67
Therefore, the answer is (a) $2.67.
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most of the potential customers for a specific retailer live or work in that retailer's trade area. true false
Most of the potential customers for a specific retailer live or work in that retailer's trade area. The statement is True.
A trade area is the geographic region where most of the consumers of a particular business come from. A company's trade area is the region around its physical location where it hopes to attract clients.
It can be determined by the type of products and services offered, as well as the firm's intended target audience. Retailers' trade areas are those areas where most of their potential clients reside or work.
The trade area for a single company can be used by several retailers. For example, one trade area may be home to a grocery store, a car dealership, a clothing store, and a florist.
The trade area for each store will differ based on the product category they offer and the target audience they hope to attract.
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which of the following schools of thought is the most likely to advocate the use of fiscal policy in fighting recessions? a monetarism b keynesian c rational expectations d real business cycle e classical macroeconomics
The most likely school of thought to advocate the use of fiscal policy in fighting recessions is Keynesian economics. So, the correct answer is B.
About Keynesian economicsThis approach emphasizes the importance of aggregate demand and the role of government intervention in managing the economy.
Keynesian economists believe that fiscal policy, which includes government spending and taxation, can be used to stabilize economic fluctuations and boost aggregate demand during recessions.
In contrast, monetarism focuses on controlling the money supply to manage inflation and stabilize the economy. Rational expectations theory asserts that individuals make decisions based on their rational expectations of future events, which limits the effectiveness of fiscal policy.
Real business cycle theory emphasizes the role of productivity shocks in causing economic fluctuations, with limited scope for fiscal policy intervention. Classical macroeconomics assumes that markets automatically adjust to achieve full employment, so fiscal policy intervention is unnecessary.
In summary, Keynesian economics is the school of thought that most strongly supports the use of fiscal policy to combat recessions, as it emphasizes the need for government intervention to manage aggregate demand and stabilize the economy.. And, for the question above, the answer which correct is B. Keynesian.
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