Journal entry for paid telephone rent for the year by Cheque Rs. 500.
Answer:
telephone rent A/c. Dr. Rs.500
To bank A/c. Rs.500
(being telephone rent paid )
The journal entry of the payment of telephone expenses is that the telephone expenses account is debited to record the expense incurred. The bank account is credited to record the payment made by cheque.
Here is the journal entry for paid telephone rent for the year by Cheque:
The journal entry to record the payment of telephone expenses by cheque is as follows:
Date Account Titles and Explanation Debit Credit
--------------------------------------------------------------------------------
2023-07-18 Telephone expenses $500
Bank $500
(To record the payment of telephone expenses by cheque.)
The telephone expenses account is a nominal account, which means that it is used to record expenses. The bank account is a real account, which means that it is used to record assets. The debit and credit entries are equal in amount, which means that the accounting equation is balanced. The journal entry is dated July 18, 2023, which is the date on which the payment was made. The explanation for the entry provides a brief description of the transaction.
In summary, the journal entry records the payment of telephone expenses by cheque. The telephone expenses account is debited to record the expense incurred. The bank account is credited to record the payment made by cheque. The debit and credit entries are equal in amount, which means that the accounting equation is balanced.
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A network has only one critical path and the slack for noncritical activities is high. This network would appear to have a _______ level of sensitivity
The network would appear to have a low level of sensitivity if it has only one critical path and the slack for noncritical activities is high.
What is critical path of a network?The Critical Path helps identify the most important sequence of tasks in a project which can be used by managers to reduce delay.
Also, critical path allows teams to identify the most important tasks in a project thereby providing a higher level of insight into a project's timeline.
Hence, the network would appear to have a low level of sensitivity if it has only one critical path and the slack for noncritical activities is high.
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On Monday, Xi tells Yard Work Inc., that he will pay $500 if a variety of tasks are completed by Friday. On Wednesday, when Yard Work is more than half done with the work, Xi says that he has changed his mind. These parties had
Based on the agreement between Xi and Yard Work Inc. we can say that they had a unilateral contract when Yard Work Inc. began to work.
What is a unilateral contract?This is a contract where one of the parties who is the offeror, says that they will pay for the services of the other party after those services have been completed.
This is a unilateral contract because Xi is the offeror and promises to pay Yard Work after they had completed the tasks he wanted.
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You can eliminate negative parts of your credit score by closing accounts that are overdue.
This is not true. You cannot eliminate negative parts of your credit score by closing accounts that are overdue.
How are negative parts eliminated from a credit score?When a person makes late payments on their credit account, this report is going to remain on their report for a period of about 7 years.
If the person goes ahead to close the account before this period, it still would not remove the late payment.
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An inward, left shift in the supply curve (a decrease in supply) for pianos could be caused by _____.
A)ban increase in the price of pianos
B)improvements in the productivity of piano makers
C)an increase in the price of piano parts
D)decrease in consumer income
Roll over each factor to read the description. While prediction is imperfect, identify which of the factors below are better short-range predictors and which are better long-range predictors of movements in foreign exchange rates.
The long range predictors in the question are:
Relative monetary growthrelative inflation ratesnominal interest rate differentialsThe short range predictors in the question are:
psychological factorsinvestor expectationsbandwagon effectsWhat are long range indicators?These are the indicators that are able to provide a prediction for the way that an economy would be in the future.
What are short range indicators?These are the instruments that are used periodically to check the economic trends whioch happenly usually more than once in a year.
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Cane Company manufactures two products called Alpha and Beta that sell for $185 and $150, respectively. Each product uses only one type of raw material that costs $8 per pound. The company has the capacity to annually produce 119,000 units of each product. Its average cost per unit for each product at this level of activity are given below: Alpha Beta Direct materials $ 40 $ 24 Direct labor 33 28 Variable manufacturing overhead 20 18 Traceable fixed manufacturing overhead 28 31 Variable selling expenses 25 21 Common fixed expenses 28 23 Total cost per unit $ 174 $ 145 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are unavoidable and have been allocated to products based on sales dollars. Required: 1. What is the total amount of traceable fixed manufacturing overhead for each of the two products
The total amount of traceable fixed manufacturing overhead for Alpha and Beta will be $3332000 and $3689000.
How to compute manufacturing overhead?From the information given, the traceable fixed manufacturing overhead for Alpha will be:
= 119000 × 28
= $3332000
The traceable fixed manufacturing overhead for Beta will be:
= 119000 × 31
= $3689000
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Builders weren't allowed to develop new properties in Cityville for six months. This is likely because the city had enacted a ______
Builders weren't allowed to develop new properties in Cityville for six months. Likely because the city had enacted a Moratorium.
What is Moratorium?
Moratorium can be defined as the process in which something or an activity is being suspended.
The suspension or delay on the activity can tend to be a temporary suspension which is expected to last for a specific period of time.
Therefore Likely because the city had enacted a Moratorium.
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Nora needed to make a long-distance call from a pay phone and did not have the cash. She was able to make the call by using her:
Nora was able to make her long-distance call with the use of her Cash Card
What is a Payment Method?This refers to the different mediums through which a person is able to make payments.
Hence, we can see that because of the long-distance call Nora wanted to make, she had to make use of her Cash Card to make payment because it is disposable and re-usable.
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Volume is still the number one goal of all acute care hospitals since there is no financial penalties for readmissions A. True B. False
Volume is not number one goal of all acute care hospitals just because there is no financial penalties for readmissions.
What is acute care hospitals?Acute care serves as the level of health care which involves the treatment of patient for a brief but severe episode of illness.
Therefore, giving patient the best treatment is the goal not volume i.e number of patients.
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Wellness pharmaceuticals has released a new antidepressant, lexabuzac. Which type of monopoly does the company most likely have on this medication? natural monopoly de facto monopoly government monopoly technological monopoly.
The monopoly that the company most likely have on this mediation is technological monopoly. The correct option is d.
Monopoly as described by Irving Fisher, is a market with the absence of competition, creating a situation where a specific person or company is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market.
Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit.
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Texas has a relatively regressive tax structure when compared to most states, which means.
The regressive tax system used by Texas means poorer citizens pay a larger percentage of their income in taxes than do wealthier citizens.
What is regressive tax?A tax is a complusory sum levied by the government or an agency of government on goods and services.
Regressive taxes are uses a flat rate, thus people who earn lower income pay a greater percentage of their income as tax when compared to those that earn a higher income. Examples of regressive tax are sales taxes, payroll taxes, excise taxes, and property taxes.
Here are the options to this question:
Poorer citizens pay a larger percentage of their income in taxes than do wealthier citizens.
poorer citizens do not have to pay taxes but also lack access to most public services
poorer citizens pay a smaller percentage of their income in taxes than do wealthier citizens.
Texas has a flat tax (taxing at the same rate for all incomes), which adversely affects poorer citizens.
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The marginal revenue curve for a monopolist is greater than the price because the monopolist faces a downward sloping demand curve for its product.Group startsTrue or False
It is a false statement that the marginal revenue curve for a monopolist is greater than the price because the monopolist faces a downward sloping.
Why is it a false statement?The situation is that the marginal revenue curve for a monopolist are always less than the price.
This is because for each additional unit of output the marginal revenue is declining its results from the downward sloping market demand curve.
Therefore, the statement given is a false statement.
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The longevity philosophy of compensation monetarily rewards employees for their loyalty to the firm. Group of answer choices True False
The longevity philosophy of compensation monetarily rewards employees for their loyalty to the firm.
⇒ True
Hope that helps!
When someone buys a fourth television for his or her house, what is the
result?
O A. The increase in demand brings leads to higher prices for
televisions.
B. There's a rise in the opportunity cost of buying other goods.
C. The production of televisions becomes more efficient.
D. There's a decrease in the marginal utility of the television.
SUBMIT
Answer:
The correct answer is D. There's a decrease in the marginal utility of the television.
Explanation:
This is because marginal utility decreases when another of the same product is bought. Thus, this causes a decrease in the marginal utility of the television.
Hope this helps! Have an amazing day!
The ability to include demand, capacity, material requirements, and constraints in defining alternatives is referred to as ______.
How can volkswagen’s production capabilities best be described?.
The production capacity of a company like Volkswagen can be described as massive.
What is the production capacity?Production capacity is a term to refer to the capacity of a productive unit to produce its maximum level of goods or services with a series of available resources, during a given period of time.
According to the above, we can infer that the production capacity of a company like Volkswagen is massive because its products are in most of the world.
An example of this is that in 2021 this company had a production of about 8.3 million cars worldwide. Due to the above, its production capacity can be described as massive.
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In modern economies, _____________________ receive money from savers and provide funds to borrowers.
Answer:
financial intermediaries
In modern economies, financial intermediaries receive money from savers and provide funds to borrowers.
What is economies?The term economy refers to the process of production, distribution, and consumption activities. The main components of economies are products and services. The primary sector of the economy is the industrial sector. The family (consumption) and company (product sales) are both parts of the economy.
The process of banks as financial intermediaries, as according to modern economies. An "intermediary" is someone who acts as a go-between for two other parties. Banks are a type of financial intermediary, which means they act as a link between a saver who saves money with a bank and a borrower who gets a loan from the same bank.
As a result, in the modern economies, financial intermediaries receive money from savers and provide funds to borrowers.
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An alternative will have fixed costs of $10,000 per month, variable costs of $50 per unit, and revenue of $70 per unit. The break-even point volume is: Group of answer choices 500. 100.
Answer:
Q:
An alternative will have fixed costs of $10,000 per month, variable costs of $50 per unit, and revenue of $70 per unit. The break-even point volume is:
A. 100. B. 2,000. C. 500. D. 1,000. E. 800.
A:
Answer C. 500.
The break-even point volume is 500. Thus, option (c) is correct.
What is a break-even point?The point at which a specific venture's entire costs and total revenues are equal is known as the break-even point. It is the period of time during which a company makes neither a profit nor a loss. When an organization reaches break-even, it has recovered its investment and is no longer losing money.
For the alternative business model, the following formula can be used to determine the break-even point volume:
Break-even point (units) is calculated as follows:
Fixed costs = (Sales price per unit - Variable costs per unit)
The monthly fixed expenditures are $10,000, the variable costs are $50 per unit, and the monthly revenue is $70 per unit.
Break-even point (units) equals $10,000 divided by ($70 - $50) equals 500 units.
As a result, the significance of the break-even point volume are the aforementioned.
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Your question is incomplete, but most probably the full question was.
An alternative will have fixed costs of $10,000 per month, variable costs of $50 per unit, and revenue of $70 per unit. The break-even point volume is:
A. 100. B. 2,000. C. 500. D. 1,000. E. 800.
Baldwin's EBIT (Earnings Before Interest and Taxes) last year was $21,771,033. What was Baldwin's net profit
The net profit is the money that a business earns after the deduction of the expenses for a period of time.
How to calculate the net profit?Your information is incomplete as the data is missing. Therefore, an overview will be given. In order to calculate the net profit, it's important to know the gross profit.
The formula to calculate the net profit will be:
= Total revenue - Total expenses
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Baldwin's EBIT (Earnings Before Interest and Taxes) last year was $21,771,033. What was Baldwin's net profit
Businesses use firewalls to protect their networks from internal threats.
O True
False
List examples of words that can describe a store's image.
Some words which can be used to describe a store's image are:
Public perceptionPersonal brandWhat is Perception?This refers to the way people view a business with regards to its ease of operations (or lack of it), and ethical outlook, etc.
Hence, we can see that a store that has a bad image, perhaps from selling substandard goods would have a bad/negative public perception and this would affect the business because they would lose customers.
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36. Alfalfa Sprouts and Carrot Juice, LLC, a purveyor of health foods, healthy shakes, and
smoothies, buys local
farm fresh organic fruits and vegetables, nuts and beans. It also buys organic breads
and rolls for sandwiches.
The business has a restaurant area where customers can sit, order via an electronic
menu, and pay via the menu.
The company invests half of all profit into stock in environmentally friendly
corporations. It uses a portion of the
remaining profit to periodically purchase new equipment,
Where would the information regarding the company's investments and equipment
purchases be found on the statement of cash flows?
Answer: Cash flows from operating activities
Explanation:
The detail about the companies investment and equipment should be included in the Cash flows from investing activities. Thus, option (a) is correct.
What is cash flow statement?A cash flow statement is a crucial tool for handling finances since it tracks an organization's cash flow. This statement is one of three major reports that assist determine a company's success, together with the balance sheet and the income statement sheet.
Cash flows from investment operations contain data about the company's stock acquisitions, property purchases, and equipment purchases. Cash inflows from the sale or acquisition of non-current assets are examples of investing activity. Therefore, it can be concluded that option (a) is correct.
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Your question was incomplete, probably the complete question was....
O a. Cash flows from investing activities
b. Cash flows from ongoing activities
c. Cash flows from financing activities
d. Cash flows from operating activities
The carrying value of bonds at maturity always equals:.
The carrying value of a bonds at the time of maturity will always equals: par value.
What is Par value?Par value can simply be defined as the price of a bond or face value of a bond.
The carrying value of bonds at the time of maturity will always equals par value by adding or lessing the carrying amount or unamortized discount or unamortized premium.
Inconclusion the carrying value of a bonds at the time of maturity will always equals: par value.
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A young professional wishes to have $730000 in her retirement account. She invests $900 monthly in the account which earns 11.5% annually. Find the number of payments needed to reach her goal.
Based on the amount that she invests monthly, the interest rate, and the targeted retirement amount, the number of payments would be 42 payments.
How many payments should the young professional make?The number of payments will be the same as the number of months/ periods because that is the frequency of payment.
The number of payments can therefore be found by the NPER formula on a Spreadsheet:
Rate = 11.5%
Pmt = -900
PV = Empty
FV = 730,000
Number of payments is:
= 41.76
= 42 payments.
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The problem causing most recessions is too little a. money (currency plus checking accounts). b. taxes. c. spending. d. unemployment.
Answer:
The answer is D: unemployment
The Xer-Wise Corporation manufactures and markets high quality home exercise equipment. The firm has just developed a new piece of equipment that top executives believe will be a big seller if promoted correctly. The new product uses a system of adjustable weights that can be arranged in various ways to allow the user to perform exercises that tone all major muscle groups. Additionally, unlike other strength building machines, this equipment also incorporates a recumbent bicycle to provide a complete cardio workout. The entire piece of equipment is easy to assemble, and when not in use it can be folded into a compact unit that is easy to store. A group of fitness experts have tested the equipment and have provided rave reviews. Company executives believe that this product, called the MuscleMaster, will appeal to busy young adults living in relatively small apartments. Melody Fitt and Tom Trym have been assigned the responsibility of developing a promotion mix for this product. The team of Fitt and Trym is convinced that they can develop a successful promotion mix for this outstanding product. Tom and Melody are considering the extensive use of ads in fitness magazines and a direct mail campaign targeted at people who have bought other products made by Xer-Wise. Since these messages are geared directly to customers, it is clear that Tom and Melody want to implement a _________ strategy
The fact that the messages are directly to customers, it is clear that Tom and Melody want to implement a infomercial strategy.
What is an infomercial strategy?It should be noted that an infomercial strategy simply means a strategy that's used to create a solution to a particular problem.
In this case, the fact that the messages are directly to customers, it is clear that Tom and Melody want to implement a infomercial strategy.
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In modern economies, credit cards are a _________________ because of their wide acceptance as a method of payment for both goods and services.
Answer:
médium of exchange that is your answer.
Describe two examples of debt investments
Answer:
Tax liens.
Real estate contracts.
Car loan notes.
Owner-financed mortgages.
Student loans.
Which type of nominal decision is characterized by a fairly high degree of product involvement but a low degree of purchase involvement
Brand loyal decision is a type of nominal decision that is characterized by a fairly high degree of product involvement by a customer, but a low degree of purchase involvement.
What is Brand loyal decision?A brand loyal decision can be defined as a type of nominal decision which involves a customer having a fairly high degree of involvement in the products offered by a producer (business organization) but a low level of involvement in its purchase.
This ultimately implies that, a brand loyal decision is characterized by a fairly high degree of product involvement with subsequent low degree of purchase involvement.
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