In order to document a business transaction in the accounting records of the company, a journal entry is employed. A journal entry is often made in the general ledger, but it can also be made in a subsidiary ledger and subsequently rolled forward into the general ledger after being summarized. After then, the general ledger is utilized to produce the company's financial statements.
In order to bring the financial statements into compliance with the applicable accounting framework, such as Generally Accepted Accounting Principles or International Financial Reporting Standards, an adjusting entry is utilized at month's end to make the necessary changes. If the business uses the accrual method of accounting, for instance, you could accrue unpaid pay at the end of the month.
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if a company is using accrual basis accounting, when should it record revenue? question content area bottom part 1 a. when cash is received, even though services may be performed at a later date b. when services are performed, even though cash may be received at a later date c. before services are performed d. when cash is received, 30 days after the completion of the services
Revenue is only recorded on an accrual basis when money is received.
The method of accounting transactions for recording revenue when earned and expenses when spent is known as the accrual basis. The accrual basis mandates the use of provisions for sales returns, bad debts, and inventory obsolescence that are made before the occurrence of such events.
Accounting entries in the books of a company or business are referred to as accrual and accounts payable. Earned income and incurred expenses that have not yet been received or paid are known as accruals. Short-term debts that represent goods or services a business has received but hasn't yet paid for are known as accounts payable.
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kyzera manufactures, markets, and sells cellular telephones. the average total assets for kyzera is $244,000. in its most recent year, kyzera reported net income of $63,500 on revenues of $468,000.
The return on assets will be 26.02%, so Kyzera has a higher return than its competitors. The Expenses are $404,500 and the Average Total Assets are $244,000. Net income is $63,500 and revenues are $468,000.
1. Return on Assets = Net Income/Average Total Assets × 100
Return on Assets = $ 63,500/$ 244,000 * 100 = 26.02 %
2. Yes, Kyzera earns a higher return than its competitors.
3. Net Income = Revenues - Expenses
$ 63,500 = $ 468,000 - $63,500
Total Expenses = $ 404,500
4. Average Total Assets = Average Liabilities+Equity = $ 244,000.
The return on assets shows how profitable a company is in using its assets effectively. As Kyzera's return on assets is more than her competitors it shows that she is a profitable company. The Assets are given to be the capital of the company along with the liabilities of the company as these are written on the left side and total assets on the right side of the Balance Sheet.
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Your question was incomplete. Please see the complete question here:
Kyzera manufactures, markets, and sells cellular telephones. The average total assets for Kyzera is $244,000. In its most recent year, Kyzera reported a net income of $63,500 on revenues of $468,000.
Required:
1. What is Kyzera’s return on assets?
2. Does return on assets seem satisfactory for Kyzera given that its competitors average a 12% return on assets?
3. What are the total expenses for Kyzera in its most recent year?
4. What is the average total amount of liabilities plus equity for Kyzera?
a new startup airline is offering free round-trip tickets to anywhere to the first 600 people who enter the office on the airline's first day of business. you arrive 24 hours before they are scheduled to open to be sure to get the free tickets, and you buy food from ve
A new startup airline is offering free round-trip tickets anywhere to the first 600 people who enter the office on the airline's first day of business. You arrive 24 hours before your scheduled opening to make sure you get a free ticket, and you buy food from vendors while waiting in line. The cost of the ticket to you is the cost of your food while you wait in line and the opportunity cost of your time.
Economics can be defined as the study of how individuals, businesses and governments make choices in allocating resources to meet their needs. These groups determine how resources are and how they are organized and coordinated to achieve maximum results. They are mostly concerned with the production, distribution and consumption of goods and services.
The economy is divided into two important parts, namely: Macroeconomics & Microeconomics
Microeconomics can be defined as the study of decisions made by people and businesses regarding the allocation of resources and the prices of goods and services.Macroeconomics can be defined as a branch of economics that describes a substantial pictureYou can learn more about Economics here brainly.com/question/28208676
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indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) stockholders' equity:
They are identified as follows?
a) asset
b) liability
c) asset
d) asset
e) stockholders' equity
f) liability
g) liability
h) asset
What is an asset?Asset is a term used to refer to items meant for economic advantage. assets are valuables kept for profits
What is an liability?Liability is the opposite of assets. They do not give gains to the owner, they rather give losses.
What is an stockholders equity?Stockholders equity refers to what the owners of a business invested.
complete question
Indicate whether each of the following items is an asset, liability, or part of owner's equity:
a) accounts receivable
b) salaries and wages payable
c) equipment
d) supplies
e) owner's capital
f) notes payable
g) accounts payable
h) cash
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a lodging company pays a fire insurance premium of $40,000. the policy covers a two-year period. the $40,000 cash disbursement is recorded as insurance expense. this violates the principle..
A lodging company pays a fire insurance premium of $40,000. the policy covers a two-year period. the $40,000 cash disbursement is recorded as insurance expense. This violates the matching principle.
A organization, abbreviated as co., is a criminal entity representing an affiliation of humans, whether or not herbal, legal or a combination of both, with a selected objective. Organization members share a commonplace motive and unite to achieve particular, declared goals.
A company is a prison entity fashioned via a set of people to engage in and function as a business organization in commercial or industrial potential. A corporation's enterprise line relies upon on its structure, which could variety from a partnership to a proprietorship, or even a corporation.
it is a complicated business shape, with higher set-up and administrative fees due to extra reporting requirements and higher-level criminal duties.
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An employee
is compensation you receive from your employer over
and above your income.
O A. salary
OB. withholding
OC. benefit
OD. wage
which federal agency is responsible for regulations that ensure workplace safety? question 1 options: osha fda ftc omb
OSHA is the federal agency that is responsible for regulations that ensure workplace safety.
Occupational safety and health management is a massive regulatory enterprise of the united states department of exertions that at first had federal visitorial powers to check out and look at places of work.
OSHA standards are policies that describe the techniques that employers need to use to shield their personnel from risks. There are 4 agencies of OSHA standards: fashionable industry, production, Maritime, and Agriculture. (general industry is the set that applies to the largest range of people and worksites).
OSHA's venture is to make sure that employees work in safe and healthy surroundings via setting and imposing standards, and by using supplying education, outreach, schooling, and help. Employers need to follow all relevant OSHA requirements.
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purchasing power parity is a means of adjusting the exchange rates for two currencies so that they have blank purchasing power.
Purchasing power parity is a means of adjusting the exchange rates for two currencies so that they have equal purchasing power.
Purchasing power parities (PPPs) are the quotes of forex conversion that attempt to equalize the buying energy of various currencies, by using doing away with the differences in charge tiers between nations.
What is purchasing power parity with example?
This means that goods in every united states of America will value the equal as soon as the currencies were exchanged. as an example, if the charge of a Coca Cola in the united kingdom changed into 100p, and it turned into $1.50 in the US, then the GBP/USD exchange price should be 1.50 (the united states rate divided by the United Kingdom's) in line with the PPP concept.
What is purchasing power parity of India?
The Purchasing Power Parities (PPPs) of Indian Rupee according to US$ at Gross home Product (GDP) level is now 20.65 in 2017 from 15.55 in 2011. The exchange charge people dollar to Indian Rupee is now sixty five.12 from 46.67 in the course of same length.
What does a PPP less than 1 imply?
The Purchasing Power Parity (PPP) between kingdom represents the equilibrium exchange rate. some thing above or under this will advocate the currency is over or undervalued.
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the present value of a future sum decreases as either the discount rate or the number of periods per year increases, other things held constant.
The statement is true. The present value of a future sum decreases as either the discount rate or the number of periods per year increases, other things held constant.
Future cash flows are reduced by the discount rate, so the higher the cut price fee the lower the existing fee of the destiny coins flows. A lower discount rate leads to a higher present value. As this implies, whilst the discount price is better, cash in the future will be worth less than it's far nowadays.
Preserving other factors steady, as the interest price will increase, the present cost of an quantity to be received at the end of a fixed duration decreases. This means at a higher hobby price the present value of a future cash float falls. Decrease the prevailing price is. inversely related. growing the discount price decreases the present price and vise versa. Future value of that investment.
The prevailing value of a destiny lump sum decreases as the discount fee used decreases, All else held constant. the present cost and discount rate are inversely associated. If the destiny cost and the range of periods are held steady the prevailing price will lower as the cut price rate increases.
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a company paid $43,800 to acquire 7% bonds with a $46,000 maturity value. the company intends to hold the bonds to maturity. the cash proceeds the company will receive when the bonds mature equal:
The cash proceeds the company will receive when the bonds mature equal $46866.
When bonds are redeemed at maturity, they are always redeemed at face value since by then any bond discount or the premium would have become zero, plus the last interest payment.
Cash proceeds = Maturity amount + interset
= $46,000 + ($46,000 x 7% x 1/2) assuming semi-annual interest payments
= $46,000 + $1,365 = $47,365
Cash proceeds = Maturity amount + interset
= $43,800 + ($43,800 x 7%) assuming annual interest payments
= $43800 + $3066 = $46866
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on december 31, 2021, gardner company holds debt securities classified as htm with a face amount of $100,000 and a carrying value of $95,000. the bonds have an effective interest rate of 6% and pay interest of $2,500 semi-annually on june 30 and december 31. the journal entry to record the interest payment on december 31, 2021 includes (select all that apply.) multiple select question. debit discount on bond investment $350 debit cash $2,850 credit premium on bond investment $350 debit cash $2,500 credit interest revenue $2,500 credit interest revenue $2,850
Multiply the number of months for which you held the receivables by the monthly pull to calculate interest revenue for the period. In this sample, multiply 3 by $1,000 to get $3,000 in interest revenue.
Where is interest income on a balance sheet?It is shown as part of the owner's equity in the liability flank of the balance sheet of the company. Interest Payments are non-operating revenues or income for characters not in the business of lending money.
The effective interest revenue acknowledged for the six months ended December 31, 2021, is:
$2,850
Reason:
$95,000 x 0.03 = $2,850
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the u.s. internal revenue service taxes the taxable income of corporations as well as the taxable investment income of the firms’ shareholders.
The US internal revenue service taxes the taxable income of corporations as well as the taxable investment income of the firms’ shareholders' double taxation of dividends.
Revenue is the entire quantity of income generated by means of the sale of products or services related to the organization's number one operations. Revenue, additionally known as gross income, is regularly known as the "top line" as it sits at the pinnacle of the income declaration. Profits, or net earnings, are an agency's general profits or income.
In accounting, revenue is the entire quantity of profits generated by using the sale of goods and services related to the primary operations of the business. commercial sales will also be known as income or as turnover. Some corporations get hold of sales from interest, royalties, or different expenses.
Whilst comparing sales vs income you have to understand that “sales” refers to the total amount of cash a company generates before getting rid of any fees. “income”, then again, is equal to sales minus the fees of doing commercial enterprise, which include depreciation, hobby, taxes, and other expenses.
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explain how (if at all) each of the following events affects the location of a country’s production possibilities curve:
If more education leads to improved job abilities, productivity should increase, which would move the curve outward.
The cost of society's decision to choose between two different goods is depicted by the production possibility curve. The best quality of life is possible for an economy when it is operating at the production possibility frontier, or the very edge of this curve, because it is employing its resources to produce as much as possible. The resources are not being utilized to their full capacity if the amount produced falls inside the curve. When resources are allocated to producing more of one good and less of another, the points on the curve represent how much of each good will be produced.
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a pen factory has a monthly overhead of $5,000. it costs them 21 cents to make a pen and they sell each pen for 99 cents.
6411 pens will they need to sell each month in order to start making a profit.
What is profit?
In accounting, a profit is an income that is given to the owner throughout a successful market producing process. Profitability, which is the owner's primary interest in the income-formation process of market production, is measured by profit. There are various profit metrics that are frequently used. The phrase is used in economics to refer to financial gains. All company operations are based on the idea. This statistic is used to evaluate businesses.
Therefore,
A pen factory has a monthly overhead of $5,000. it costs them 21 cents to make a pen and they sell each pen for 99 cents. 6411 pens will they need to sell each month in order to start making a profit.
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Amend inc. Debited accounts receivable and credited allowance for uncollectible accounts to reestablish an account previously written off. Amend inc. Should also debit.
Amend Incorporation should also debit Cash and credit Accounts Receivable
Accounts receivable refers to customers who have purchased goods or services from a company but have not yet paid for them. For instance, the outstanding sum from customers who purchase items on credit is added to the accounts receivable. It is an obligation that came about as a result of a business deal.
The amount of cash on hand increases after debiting a cash account. However, if you debit an accounts payable account, the amount of the accounts payable liability decreases. Accounts receivable are a debit on a trial balance until the client pays. Once the customer has paid, you will debit your cash account and credit accounts receivable because the funds are now in your bank and are no longer owing to you.
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when the demand for toilet paper increases the equilibrium quantity sold increases consumers are buying more and producers are proicuting more
Customers are purchasing the goods in greater quantities than normal if demand is rising. It can be as a result of the client's rising sales or the region's high demand for that specific product.
According to the law of demand, a. a decrease in price increases demand.b. an increase in price decreases demand.c. an increase in income increases demand.d. a decrease in price increases quantity demanded.Law of Demand: In accordance with the law of demand, when a good's price drops, more people will buy it and vice versa.Price and quantity demanded are shown to be inversely related.Its curve is constantly downward sloping because of this.Only the price and amount demanded are modified; everything else stays the same.
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if the cross-price elasticity of two goods is positive, then the two goods are question 4 options: a) complements. b) inferior goods. c) substitutes. d) normal goods.
Option C is correct. if the cross-price elasticity of two goods is positive, then the two goods are substitutes.
What is a substitute good?The term substitute good can be defined as the good that can be used in place of another good. It is a good that the consumers may decide to buy because the previous good they used to use is no longer within reach. An example of substitute good can be seen in different brands of milk. As the price of one brand soars, the consumers may be forced to go for another brand that is cheaper and can take care of the same need.
For instance we can also use tea and coffee, a positive cross price elasticity would mean that if the price of tea is higher, the people would want to switch to drinking coffee.
Hence we can say that if the cross-price elasticity of two goods is positive, then the two goods are substitutes.
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which one of the following statements is incorrect regarding globalization and globalization strategies? part 2 a. globalization strategies could add value to products and services. b. globalization means customers, talent, and suppliers are worldwide. c. globalization strategies could simplify the operations manager's job d. globalization strategies could contribute to efficiency.
Regarding globalization and globalization strategies, it is not true that c. globalization strategies could simplify the operations manager's job.
What does globalization do for businesses?Globalization has allowed for businesses to grow because customers and suppliers are worldwide which allows for increased markets for sales. Value is therefore added to products and services.
Globalization is not easy on operations managers however. They would have to come up with more complex strategies to manage their company having increased reach.
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a seller transfers title to a buyer with a general warranty deed. in which clause of the deed does the seller define the quality of ownership interest conveyed to the buyer?
A seller transfers title to a buyer with a general warranty deed. The seller defines the quality of ownership interest conveyed to the buyer in the habendum.
Habendum is an important concept in real estate and property transactions. It may also be used in other transactions related to leases and deeds, for example in the energy sector.
A habendum clause is part of a contract that is concerned with the rights, interests, and other features of ownership that is transferred to the other party. In cases of transfer of rights, for example in relation to a coal mine, it sets out the nature of the right and its duration.
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Where have you seen marketing take place?
Answer:
Everywhere
Explanation:
The process or technique of promoting, selling, and distributing a product or service. Once there is a buyer, there will always be a marketer, be it the secretary, salesperson, etc.
russell's consulting services provided $1,000 of services to the local college and immediately collected $700, but the college wants to pay the rest next month. record this transaction in the accounting equation for russell's consulting service by: multiple choice question. increasing both cash and accounts receivable; and increasing revenues increasing cash and accounts payable; and increasing revenues decreasing cash; and increasing both accounts receivable and russell, capital increasing both cash and accounts receivable; and decreasing revenues
Record this transaction in the accounting equation for Russell's consulting service by: increasing both cash and accounts receivable; and increasing revenues
What is accounting equation?
Accounting equation shows the relationship between the assets of the Russell's consulting services and they are financed with equity and liabilities
assets=equity+ liabilities
The provision of consulting services increases the firm's revenue because the revenue has been earned by performing the required services.
However, the cash received increases with the collection of $700 whereas the balance of $300 unpaid increases the accounts receivable
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Nora, the manager of three hospital rehabilitation clinics, has the clinics adopt software that allows better tracking of supplies. This software adoption also allows therapists to spend less time gathering supplies for therapy sessions. On average, each therapist can meet with one more patient per day. The marginal revenue product of the therapists will _____, and the demand for therapists at the clinics will _____.
The demand for therapists at the clinics will rise along with the marginal revenue product of the therapists.
According to reports, new software will allow therapists to spend less time compiling materials for treatment sessions.
The therapists would be able to attend to more patients as a result, increasing their marginal product, which would raise their marginal revenue product.
The demand for a factor rises along with the marginal revenue product of that element.
As a result, the demand for therapists would rise as a result of this increase in marginal revenue output.
The income gain brought on by the sale of one additional unit of output is known as marginal revenue. Although marginal income can remain constant above a certain level of output, as output level increases, it will eventually begin to decline due to the law of diminishing returns.
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twin oaks uses to communicate to customers the value of the brands it represents because it believes it to be the most important type of marketing.
TWINOAKS is a marketing firm for consumers with an opinion. We work to establish deep ties between consumers and brands to encourage enduring consumer spending. TWINOAKS, established in 2011, carefully chooses top people with knowledge of and experience working with the biggest brands and retailers in the country.
Our main goal is to help you expand your business. We are experts in all elements of digital marketing and can assist your company in moving forward in the digital era. We offer the expertise and experience to support you in achieving your objectives, whether you're searching for search engine optimization for your website or online advertising to expand your clientele. Start increasing your business right away by letting Twin Oaks take the uncertainty out of your digital marketing strategy.
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Which law or regulation requires that the ceo and cfo of public companies must certify in writing that their company’s annual and quarterly reports are accurate and complete?.
The Sarbanes-Oxley Act of 2002 is the law that requires that the ceo and cfo of public companies must certify in writing that their company’s annual and quarterly reports are accurate and complete.
What is a law?
This is the term that is used to refer to the legal rules and regulations that have being set up in a place that has the aim of being able to guide the behaviors of the people that live in a particular geographical area.
The section 302 of this law is what requires the CEOs to do what has been requested in this question that we have here.
The Sarbanes-Oxley Act of 2002 was passed by the congress of the United States. The reason why that law was passed was deu to the fact that the investors in the nation were to be protected from all activities of fraud.
Hence we would say that The Sarbanes-Oxley Act of 2002 is the law that requires that the ceo and cfo of public companies must certify in writing that their company’s annual and quarterly reports are accurate and complete.
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which type of inventory would be more likely to be held in assembly line process versus in a job shop process? group of answer choices raw materials finished goods perishable goods work in process
In an assembly line process as opposed to a job shop process, raw materials would be held more frequently.
The correct option is A.
Describe an assembly line.assembly line, industrial set-up of tools, personnel, and tools for continuous flow of mass-production operations. The steps required to manufacture every product component in addition to the finished product are examined to determine the design for an assembly line.
What did the assembly line have as its purpose?The most popular mass production technique is assembly lines. Because assembly lines train unskilled workers to complete specific tasks instead of constructing an entire product unit, labor costs are reduced.
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which type of inventory would be more likely to be held in assembly line process versus in a job shop process? group of answer choices
A. raw materials
B. finished goods
C. perishable goods
D. work in process
when considering how mobile users will search for your business, which types of keywords should you focus on?
When considering how mobile users will search for business one should focus on shorter keywords and phrases.
Keywords are used in search engine optimisation. Search engine optimisation allows mobile users to have an optimised experience. It takes into consideration the design of the website, structure, speed etc.
Generally, there are four different types of keywords. Their names are commercial, transactional, informational, and navigational. Keywords refer to small phrases or words an individual usually searches for.
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Changes in the cost of living:
a. vary depending on where you live.
b. are constant from month to month.
c. are not a factor when preparing a budget.
d. are the same for all goods and services.
e. are the same for different locations.
Changes in the cost of living vary depending on where you live.
The cost of living is considered to be the amount of money which is needed in order to cover basic expenses such as food, housing, taxes, and healthcare in a certain place and time period. Thus, the cost of living is often used in order to compare how expensive it is to live in one city when compared to another.
However, the cost of living is thus tied to the wages people earn. So, if expenses are higher in a city, such as London, for instance, the salary levels over there also must be higher so that people can afford to live in that city.
Hence, option A is correct.
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a company is interested in developing a quarterly aggregate production plan but they are not sure if a level strategy with backorders or a chase strategy would be better. they have the following information available regarding their production operation:
A company is interested in growing a quarterly aggregate production plan however they may be not positive if a degree strategy with backorders or a chase approach would be higher. they have the subsequent statistics to be had regarding their production operation:
if called for in this month more than the preceding month
Hiring = This month's production - previous month's production
Layoff = 0
If the demand for this month is less than that of the preceding month
hiring = zero
Layoff = previous month's manufacturing - this month's production
An aggregate production function relates the full output of a financial system to the full quantity of labor employed within the economy, all other determinants of manufacturing (this is, capital, natural assets, and era) being unchanged.
The aggregate production function describes how the overall actual gross domestic product (actual GDP) in an economy depends on to be had inputs.
The additives of combination production characteristics are land, exertions, capital, and entrepreneurship.
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what is the main reason that states like california ban counter displays of tobacco products? to decrease opportunities for the shoplifting of these high-revenue items to discourage underage tobacco use by limiting the advertisement and product placement to ensure children don't accidentally purchase cigarettes thinking they are candy to punish cigarette companies by hiding their products from the public
The primary goal of states' laws prohibiting counter displays of tobacco goods, such as those in California, is to deter youth tobacco usage by reducing advertising and product placement.
Additionally, 25% of cigarette displays were found near sweets. Countrywide research also discovered that cigarette advertisements were placed at low heights in around one-third of the establishments.
Some shops put cigarettes in a see-through display to preserve product brands after California outlawed counter displays.
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HELLLLLPPPP
What is power? Why is understanding power essential to understanding government?
Answer:
Power can be defined as the existing ability that a person would have to influence things or bring about changes in a given area. It is the ability that a person would have to lead or control things in an area.
What is power?The word power has to do with the influence that a person would have over others. A person with power is one that is ruling a place or one that is controlling the area. This person can make rules and laws that would affect other people.
Based on this, it is essential that understanding power is same as understanding government. This is because the person that is in power would be one that has to know how to use the power that they have and they would be able to do all that is required of them during their stay in power.
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