To prepare a depreciation schedule for the double-declining-balance method and the journal entry for year 2 depreciation for Turquoise Associates, follow these steps:
Step 1: Calculate the straight-line depreciation rate.
Useful life = 5 years
Depreciation rate = 100% / 5 years = 20%
Step 2: Double the straight-line depreciation rate.
Double-declining rate = 20% * 2 = 40%
Step 3: Calculate the depreciation for each year.
Initial cost = $21,500
Residual value = $2,000
Year 1:
Depreciation expense = Initial cost * Double-declining rate
Depreciation expense = $21,500 * 40% = $8,600
Accumulated depreciation = $8,600
Book value (End of Year 1) = Initial cost - Accumulated depreciation = $21,500 - $8,600 = $12,900
Year 2:
Depreciation expense = Book value (End of Year 1) * Double-declining rate
Depreciation expense = $12,900 * 40% = $5,160
Accumulated depreciation = Previous accumulated depreciation + Depreciation expense = $8,600 + $5,160 = $13,760
Book value (End of Year 2) = Initial cost - Accumulated depreciation = $21,500 - $13,760 = $7,740
Step 4: Prepare the journal entry to record year 2 depreciation.
To record year 2 depreciation, you will make the following journal entry:
Debit: Depreciation Expense $5,160
Credit: Accumulated Depreciation $5,160
In summary, the depreciation schedule for the double-declining-balance method shows a depreciation expense of $5,160 for year 2. The journal entry to record this depreciation includes debiting the Depreciation Expense account and crediting the Accumulated Depreciation account with the same amount.
For more such questions on depreciation
https://brainly.com/question/1203926
#SPJ11
if the risk free rate is 2.0%, the expected return on the market portfolio (i.e., rm)( is 11.1%, and the beta of stock b is 0.5 , what is the required rate of return for stock b according to the capital asset pricing model (capm)? (round your answer rounded to one decimal place and record without a percent sign).
The required rate of return for Stock B according to the Capital Asset Pricing Model (CAPM) is 12.78.
If the risk free rate is 2%, the expected return on the market portfolio is 12% and the beta of Stock B is 1.1.
We have to determine the required rate of return for Stock B according to the Capital Asset Pricing Model (CAPM).
Risk-free rate = 5.10%
Expected return on market = 14.70%
Beta = 0.80
Required return = Risk-free rate + [β × (Expected return on market - Risk-free rate)]
Required return = 5.10 + [0.80 × (14.70 - 5.10)]
Required return = 5.10 + [0.80 × 9.6]
Required return = 5.10 + 7.68
Required return = 12.78
To learn more about Capital Asset link is here
brainly.com/question/22094873
#SPJ4
The complete question is:
If the risk free rate is 2 %, the expected return on the market portfolio is 12% and the beta of Stock B is 1.1 , what is the required rate of return for Stock B according to the Capital Asset Pricing Model (CAPM)? (Round your answer rounded to one decimal place and record without a percent sign).
on october 1, 2024, green corporation loans one of its employees $20,000 and accepts a 12-month, 8% note receivable. calculate the amount of interest revenue green will recognize in 2024 and 2025.
Green Corporation will recognize $399.99 of interest revenue in 2024 and $1,199.97 of interest revenue in 2025.To calculate the amount of interest revenue Green Corporation will recognize in 2024 and 2025 on the loan to its employee, follow these steps:
1. Identify the principal amount, interest rate, and term of the note: The principal amount is $20,000, the interest rate is 8%, and the term is 12 months.
2. Calculate the annual interest: Multiply the principal amount by the interest rate: $20,000 x 0.08 = $1,600. This is the total interest for the entire 12-month period.
3. Determine the number of months in each year: Since the loan was issued on October 1, 2024, there will be 3 months (October, November, and December) in 2024 and 9 months (January to September) in 2025.
4. Calculate the monthly interest: Divide the annual interest by 12 months: $1,600 / 12 = $133.33.
5. Calculate the interest revenue for 2024: Multiply the monthly interest by the number of months in 2024: $133.33 x 3 = $399.99.
6. Calculate the interest revenue for 2025: Multiply the monthly interest by the number of months in 2025: $133.33 x 9 = $1,199.97. Therefore,Green Corporation will recognize amount $399.99 of interest revenue in 2024 and it will recognize amount $1,199.97 of interest revenue in 2025.
To know more about interest revenue click here
brainly.com/question/28903291
#SPJ11
red mountain, inc. bonds have a face value of $1,000. the bonds carry a 7 percent coupon, pay interest semiannually, and mature in 13.5 years. what is the current price of these bonds if the yield to maturity is 6.82 percent? group of answer choices $1,018.27 $1,015.72 $994.56 $989.50 $1,020.00
Current bond price is $1,015.72 with a 6.82% yield to maturity for Red Mountain, Inc. bonds.
The ongoing cost of the security can be determined utilizing the current worth recipe, which limits the security's future incomes to their current qualities in light of the ongoing respect development. Utilizing a monetary mini-computer or calculation sheet, we can observe that the ongoing cost of the bond is $1,015.72. This implies that the bond is exchanging along with some built-in costs to its presumptive worth, as the ongoing cost is higher than the bond's standard worth of $1,000. The premium is reasonable because of the security's alluring coupon rate comparative with current market loan fees, which makes the security more important to financial backers.
To learn more about bonds, refer:
https://brainly.com/question/24076602
#SPJ4
in a multi-period production scheduling application, which equation describes the relationship between demand, production, and inventory?
Production scheduling is the process of allocating different raw materials, resources or processes to different products.
The equation representing the link between demand, production, and inventory in a multi-period production planning application is:
Production(t) - Demand(t) +Inventory(t-1) = Inventory (t)
Production scheduling is essential for optimizing production process flows to ensure maximum efficiency by minimizing or eliminating delays, unnecessary waste or potential disruptions. Production scheduling allows companies to allocate resources in the most efficient manner within specific timeframes.
aims to make the production process as efficient and economical as possible in terms of materials and human resources, and to deliver the products on time.
To know more about Production Scheduling,
brainly.com/question/29434258
#SPJ4
a retailer is planning to reconfigure its fulfillment network from dedicated (2 fulfillment centers) to integrated (1 fulfillment center). currently product a is stocked in both locations and the correlation of demand for product a across both locations is 1. all else equal, if the retailer moves from dedicated to integrated fulfillment, cycle stock levels and thus inventory holding cost for cycle stock will: question 7 options: none of the above remain constant decrease increase
If the retailer moves from dedicated to integrated fulfillment, cycle stock levels and thus inventory holding cost for cycle stock will decrease (option c)
Inventory management is a critical aspect of any business that deals with physical products. One common decision retailers face is how to configure their fulfillment network, which involves determining the number and location of warehouses or fulfillment centers.
When it comes to inventory management, cycle stock is the inventory that is needed to meet demand between orders. It represents the quantity of product that is required to keep the business running until the next order arrives.
However, in an integrated fulfillment network with one center, the retailer would only need to maintain cycle stock levels in one location. As a result, the retailer would experience a decrease in cycle stock levels and inventory holding costs for cycle stock.
Hence the right choice is option (c).
To know more about inventory here
https://brainly.com/question/14184995
#SPJ4
simms corp. is considering a project that has the following cash flow data. what is the project's irr? note that a project's projected irr can be less than the wacc or negative, in both cases it will be rejected. year 0 1 2 3 cash flows -$1,025 $425 $425 $425 a. 11.76% b. 7.55% c. 8.13% d. 26.73%
Option a: 13.21%. The project's IRR based on the given data of the cash flow by using financial calculator is 13.21%.
A project's internal rate of return (IRR) is the rate at which the present value of the project's cash flows equals the price of the initial investment.
This can be calculated by using/utilizing a financial calculator as follows:
-$1000 CFj
$425 CFj
$425 CFj
$425 CFj
Then the IRR/YR is shifted to 13.2054% or 13.21%...
Internal rate of return (IRR) is the annual growth rate an investment is expected to generate/create.
IRR is calculated using the same concept as net present value (NPV), but NPV is set to zero.
The ultimate goal of IRR is to find the discount rate such that the total present value of annual nominal cash inflows equals the original net cash outflows from the investment.
To learn more about Internal Rate of Return, here:
https://brainly.com/question/13016230
#SPJ4
Complete question:
Options:
13.21%
12.55%
13.87%
15.29%
14.56%
which of the following statements is correct about insurance advertising rules? a)they may state that a policy is a special offer, if that is true. b)they cannot use testimonials. c)they do not apply to sales talks. d)they cannot mention preexisting condition exclusions.
Insurance advertising rules prohibit the use of testimonials in their ads. Option b is correct.
Testimonials refer to endorsements or recommendations from satisfied customers. The reason for this rule is to prevent insurers from using misleading or false statements that may create unrealistic expectations for potential customers. Insurance ads should accurately reflect the benefits, costs, and risks associated with the policy being advertised. Advertisers may only use verifiable and quantifiable statements in their ads to support their claims. Additionally, ads must be truthful, fair, and not deceptive. Advertisers must adhere to these rules to maintain the trust and confidence of consumers in the insurance industry. Option : b is correct.
To know more about Advertisers, here
brainly.com/question/3163475
#SPJ4
which of the following are true about dashboards? group of answer choices they effectively tie together several elements of a business intelligence platform or service into a single user interface that enables the user to maintain a real-time understanding of everything going on in an organization, division or team. they act to aggregate kpis for decision makers. they are not well-suited for analytics techniques. they are not suitable for conveying complex information quickly. both a
They successfully integrate many components of a business intelligence platform or service into a single user interface, allowing the user to keep track of everything happening within a company, division, or team in real-time. They function as a kpi aggregator for decision-makers.
In psychology, choosing a belief or a plan of action from among multiple potential alternative possibilities is considered to be the product of a cognitive process. It could be unreasonable or rational, depending. The process of creating decisions is a form of reasoning that is predicated on the values, preferences, and beliefs of the decision-maker. Every process of decision-making results in a final conclusion, which may or may not lead to action. Making decisions can be seen as a problem-solving process that results in an optimal, or at least acceptable, answer. Hence, it is a process that might be more or less reasonable or irrational and that can be founded on overt or covert facts and ideas.
Learn more about decision-makers from
https://brainly.com/question/1249089
#SPJ4
the new product characteristic that refers to how well a new product fits into potential customers' needs, values, product knowledge, and past behaviors is multiple choice observability. compatibility. trialability. complexity.
The new product characteristic that refers to how well a new product fits into potential customers' needs, values, product knowledge, and past behaviors is compatibility. So the correct option is B.
Compatibility refers to the degree to which a new product is consistent with existing values, experiences, and practices of potential customers. It involves considering factors such as the target market's lifestyle, culture, and existing product usage habits, and how the new product will fit into those habits. A high level of compatibility can increase the likelihood of customer acceptance and adoption of the new product, while low compatibility can decrease adoption rates.
Learn more about potential customers'
https://brainly.com/question/30825618
#SPJ4
which one of the following federal laws was enacted in 1935? group of answer choices the investment company act. the securities exchange act. the public utility holding company act. the securities act. the trust indenture act.
The federal laws enacted in 1935 was option (d) the securities act
The Securities Act of 1933 is a federal law that requires companies that sell securities, such as stocks or bonds, to provide investors with certain information about the securities being offered. This information includes details about the company, its business, financial statements, and risks associated with the investment.
The act also requires that this information be truthful and complete, and that any misrepresentations or omissions of material facts can result in legal liability for the company and its officers.
The primary goal of the Securities Act is to protect investors from fraudulent activities in the securities market. By requiring companies to disclose accurate and complete information about their securities offerings, the act aims to ensure that investors can make informed decisions about whether to invest in a particular security.
Therefore, the correct option is (d) the securities act
Learn more about securities act here
brainly.com/question/31227421
#SPJ4
in years to come, should hain try to grow primarily organically, through collaborative strategies such as joint ventures and strategic alliances, or through mergers and acquisitions? explain
Compared to a joint venture, a strategic alliance is less complicated and legally enforceable. A contract agreement between two or more parties, containing all the details about a share of profit and loss, etc., is required for a joint venture.
An agreement between two businesses to collaborate on a task that will be advantageous to both sides while preserving their individual autonomy is known as a strategic alliance. The agreement is less complicated and legally binding than a joint venture, which entails two businesses combining resources to create a new corporate entity. All businesses and situations can't be solved through strategic collaborations. Strategic partnerships, however, allow companies to expand into new markets, improve their market share, hire talent, and share the cost and risk of major development projects. A strategic alliance is an arrangement between two parties intended to serve their common interests. Both parties are in a stronger position to achieve their goals by working with another party when each side frequently supplies some kind of resource it permits the other party to use.
Learn more about strategic alliance from
https://brainly.com/question/28287869
#SPJ4
gladstone company has expected sales of $348,000 for the upcoming month and its monthly break-even sales are $327,500. what is the margin of safety as a percent of sales?
The margin of safety as a percent of sales for Gladstone Company is 5.9%
Margin of safety is a financial ratio that measures the difference between the actual or expected sales and the break-even point of a company. It indicates how much sales can decline before a company starts to incur losses
To calculate the margin of safety as a percent of sales, you can use the formula
Margin of Safety = (Expected Sales - Break-even Sales) / Expected Sales × 100%
where:
Expected Sales = $348,000
Break-even Sales = $327,500
Plugging these values into the formula, we get
Margin of Safety = ($348,000 - $327,500) / $348,000 × 100%
= $20,500 / $348,000 × 100%
= 5.9%
Learn more about margin of safety here
brainly.com/question/31263165
#SPJ4
in the short run, a firm that produces and sells computers can adjust question 21 options: how many workers to hire. where to produce along its long-run average-total-cost curve. all of the above are correct. the size of its factories.
A firm that makes and sells computers might change how many employees it hires in the near term. Option 1 is Correct.
A firm's minimal AVC is the lowest price at which it will produce goods or services. The company's overall income at this pricing barely covers its whole variable costs. The company's loss is the same as its fixed expenses. The company would suffer a loss higher than its fixed expenses at any lower market pricing.
When a company's workers output rises in the near term, its average fixed cost falls. No matter how many outputs are generated, fixed costs stay the same. Hence, fixed cost contribution per unit diminishes as output increases. Option 1 is Correct.
Learn more about firm Visit: brainly.com/question/28234604
#SPJ4
Correct Question:
In the short run, a firm that produces and sells computers can adjust question 21 options:
1. how many workers to hire.
2. where to produce along its long-run average-total-cost curve.
3. all of the above are correct.
4. the size of its factories.
which of the following is not possible for a business transaction? group of answer choices increase liabilities and increase expense. decrease assets and increase expense. decrease liabilities and increase revenue. increase assets and decrease revenue.
A business transaction can't increase assets and decrease revenue. The other options, which involve changes to liabilities and expenses or assets and expenses, are possible.
Transactions in business involve the trade of products or services for money or other assets. A company transaction can increase liabilities and reduce assets while decreasing assets and increasing expenditures. A deal may also reduce liabilities while increasing income. A transaction cannot, however, expand assets while decreasing income.
This is because assets reflect a company's resources that can be used to produce revenue. A decline in income is usually accompanied by a decrease in assets or a rise in liabilities.
Learn more about liabilities:
https://brainly.com/question/29237773
#SPJ4
a decrease in aggregate demand with constant aggregate supply can result in . multiple choice question. deflation expansion full employment recession
Deflation can occur when aggregate demand declines but overall supply remains unchanged. Option 1 is Correct.
As a result of the change in production brought on by the change in price level, the drop in aggregate demand or supply will result in a rise in unemployment. As overall demand declines, prices fall, and when overall supply declines, prices rise. Yet, increasing inflation makes exports less competitive. As a result, lower aggregate demand results from higher inflation.
The aggregate demand curve moves to the left in response to a decrease in demand. The GDP and price levels are decreased by this decline. This results in economic contractions, which lower demand below the GDP potential of the economy and bring about a recession. The level of the whole price then decreases together with real GDP. Option 1 is Correct.
Learn more about demand Visit: brainly.com/question/1490249
#SPJ4
Correct Question:
A decrease in aggregate demand with constant aggregate supply can result in . multiple choice question.
1. deflation
2. expansion
3. full employment
4. recession
the shoeleather cost of inflation refers to the question 23 options: redistributional effects of unexpected inflation. time spent searching for low prices when inflation rises. waste of resources used to maintain lower money holdings. increased cost to the government of printing more money.
The shoe leather cost of inflation refers the increased cost to the government of printing more money. (option d).
Inflation is a phenomenon where the general level of prices for goods and services in an economy increases over time.
The shoe-leather cost of inflation is not limited to just the physical costs of walking to the bank more frequently. It also includes the opportunity cost of the time spent searching for lower prices and alternatives to higher-priced goods and services.
Furthermore, inflation can also lead to the waste of resources used to maintain lower money holdings. Individuals and firms hold lower money balances to minimize the impact of inflation on their purchasing power.
In conclusion, the shoe-leather cost of inflation refers to the various costs incurred by individuals and firms as they adjust their behavior in response to inflation.
Hence the correct option is (d).
To know more about inflation here
https://brainly.com/question/30112292
#SPJ4
Complete Question:
The shoe-leather cost of inflation refers to:
A. the redistribution effects of unexpected inflation.
B. the time spent searching for low prices when inflation rises.
C. the waste of resources used to maintain lower money holdings.
D. the increased cost to the government of printing more money.
a farmer will harvest his corn crop in six months but wants to lock in a price today. the farmer will most likely
A farmer wants to lock in a price today even though his corn crop won't be harvested for six months. Most likely, the farmer will sell a corn futures contract. Option B is Correct.
A forward or futures contract's seller is required to produce the underlying upon demand. The farmer commits to selling corn in six months at the agreed-upon contract price by selling a corn futures contract.
A and C are mistaken because, in order to purchase (take a long position in) a corn futures contract or a corn forward contract, respectively, the farmer would have to buy corn, not sell it, in the future, which is contrary to what the farmer wants to do. Option B is Correct.
Learn more about futures contract Visit: brainly.com/question/29802405
#SPJ4
Correct Question:
A farmer will harvest his corn crop in six months but wants to lock in a price today. The farmer will most likely:
A. buy a corn futures contract.
B. sell a corn futures contract.
C. buy a corn forward contract.
Which checking account transaction will NOT reduce John’s checking account balance
Answer:
A deposit into John's checking account will NOT reduce his checking account balance
which of the following statements is true of skills? it includes recruitment, hiring, training, promotion, and compensation. it refers to the abilities of individuals, groups, or organizations to perform tasks. it helps create alignment between goals, skills, and environmental needs. it represents the most important
The following statement is true of skills: it refers to the abilities of individuals, groups, or organizations to perform tasks.Skills refer to the abilities of individuals, groups, or organizations to perform tasks.
It is an essential aspect of employment and career development. The acquisition of new skills, the enhancement of existing skills, and the recognition of the need for continued learning are all important components of career success.Recruitment, hiring, training, promotion, and compensation are all important components of the human resource management process. Skills are one of the critical factors that employers consider when recruiting new employees. To develop the necessary skills and knowledge, employers provide training to their employees.Skills development aids in creating alignment between goals, skills, and environmental needs. It is the most critical factor for determining the success of any organization.
Know more about Skills here:
https://brainly.com/question/22072038
a(n) data mart would have competitor and industry information to facilitate analysis of competitors and the industry.
A business intelligence data mart would contain information about the industry and rivals to make it easier to analyse them.
Enterprises can use business intelligence to support a variety of business choices, from tactical to strategic. Pricing or product positioning are examples of fundamental operational choices. Priorities, goals, and directions are the most general terms used to describe strategic business choices. In every instance, BI works best when it combines data from the market in which a company operates with data from sources within the company itself, like financial and operations data. When internal and external data are combined, they can paint a complete picture that, in turn, produces a "intelligence" that cannot be obtained from any one group of data alone.
Learn more about business intelligence here:
https://brainly.com/question/14581141
#SPJ4
which of the following is the most likely effect of lower apple juice prices on the price and quantity purchased of orange juice, a substitute product? group of answer choices the price of orange juice will increase, and the quantity purchased will fall. the price of orange juice will fall, and the quantity purchased will increase. the price of orange juice will increase, and the quantity purchased will increase. the price of orange juice will fall, and the quantity purchased will fall.
The most likely effect of lower apple juice prices on the price and quantity purchased of orange juice, a substitute product is: The price of orange juice will fall, and the quantity purchased will fall.
Products that can be used equally are known as substitutes. They are options because they share characteristics and offer solutions to the same issues. Direct and indirect substitutes come in two varieties. Depending on how closely the products are correlated, an individual may belong to any of the categories.
An item is a direct substitute if it can be readily replaced by another one. It implies that comparable problems can be solved by this product. Products with weak correlations to one another are said to be indirect substitutes; however, they are still capable of replacing the primary object.
Learn more about substitute products:
brainly.com/question/10423146
#SPJ4
true or false: to be most effective, budgets must be thought of as tools used only by the financial staff.
False
Budgets should be viewed as instruments used by the entire organization, not just the finance personnel, to be most effective.
Everyone in the organization should be involved in designing and implementing the budget, which should be seen as a plan for the organization's aims and objectives.
The budget should be developed with input from every department, and all staff members should be aware of the organization's financial objectives and how their job fits into those objectives. The organization may develop a culture of fiscal responsibility and accountability by incorporating all employees in the budgeting process, which will increase success in attaining its objectives.
Learn more about effective, budgets
https://brainly.com/question/26195666
#SPJ4
3. the mcallisters had several serious problems with their house, including leaks in the ceiling, a buckling wall, and dampness throughout. they repaired the buckling wall by installing i-beams to support it. they never resolved the leaks and the dampness. when they decided to sell the house, they said nothing to prospective buyers about the problems. they stated that the i-beam had been added for reinforcement. the silvas bought the house for $60,000. soon afterwards, they began to have problems with leaks, mildew, and dampness. your are the plaintiffs attorney in this case. your job is to secure damages for the plaintiff. what is your argument that the plaintiffs are legally entitled to damages? draft an argument for the court.
As the plaintiffs' attorney, I argue that the McAllisters knowingly concealed significant defects in their house, including leaks in the ceiling and dampness throughout, which directly caused the Silvas to suffer damages. The plaintiffs, the Silvas, are legally entitled to damages due to the defendants' failure to disclose these material defects and misrepresenting the reason for installing the i-beams.
Firstly, the defendants were aware of the issues in the house, including the leaks and dampness, as they had attempted to repair the buckling wall by installing i-beams. However, they did not address the underlying causes of these problems, and instead, chose to conceal them from the prospective buyers.
Secondly, during the sale process, the defendants misrepresented the purpose of the i-beams by stating that they were added for reinforcement, while failing to mention the actual reason, which was to support a buckling wall caused by the unresolved leaks and dampness.
As a result of this concealment and misrepresentation, the Silvas purchased the house for $60,000 without being informed about the existing defects, which they would have considered when deciding to buy the property and negotiating the purchase price. After the purchase, the Silvas encountered problems with leaks, mildew, and dampness, leading to damages and additional expenses to repair and remediate the issues.
In conclusion, the plaintiffs are legally entitled to damages due to the defendants' failure to disclose material defects in the house and misrepresenting the reason for the i-beams installation. The defendants' actions directly caused the plaintiffs to suffer damages, which they should be compensated for.
For more such questions on Plaintiffs
https://brainly.com/question/24910850
#SPJ11
adaptability is the ability and willingness to adapt to changing situations. this activity is important because people who are more adaptable are much better at dealing with organizational changes than people who are less adaptable. the goal of this activity is to
Being able and willing to adjust to changing circumstances is being adaptable. This practise is crucial since ability and willingness is a soft talent that indicates your ability to quickly adapt to changing conditions.
Being adaptable means you can quickly change your behaviour in response to new situations. A flexible worker can keep up with clients, projects, goals, and technology as they change. They have the ability to adapt to changes in their work environment or in processes.
Employers look for soft skills like adaptability when employing new employees. Workers in leadership positions frequently have to handle uncommon scenarios without clear instructions.
Read more about ability and willingness at
https://brainly.com/question/20463761
#SPJ4
haven company uses the percentage of sales method for recording bad debts expense. for the year, cash sales are $600,000 and credit sales are $2,200,000. management estimates that 1% is the sales percentage to use. what adjusting entry will haven company make to record the bad debts expense? ch-8-q-87 group of answer choices a b c d
The adjusting entry for Haven Company to record the bad debts expense is $28,000.To record the bad debts expense for Haven Company using the percentage of sales method, follow these steps:
1. Determine the total sales: Combine cash sales and credit sales. In this case, cash sales are $600,000 and credit sales are $2,200,000. Total sales = $600,000 + $2,200,000 = $2,800,000.
2. Calculate the estimated bad debts expense: Multiply the total sales by the sales percentage management provided (1%). Bad debts expense = $2,800,000 * 0.01 = $28,000.
3. Make the adjusting entry: The adjusting entry to record the bad debts expense will require two accounts, Bad Debts Expense and Allowance for Doubtful Accounts. You will debit Bad Debts Expense and credit Allowance for Doubtful Accounts.
Here is the adjusting entry for Haven Company to record the bad debts expense:
Debit: Bad Debts Expense $28,000
This entry records the estimated bad debts expense for the year, which will be reflected in the company's income statement. The credit to allowance for Doubtful Accounts increases the reserve for potential uncollectible accounts, ensuring that the balance sheet accurately represents the net realizable value of accounts receivable.
To know more about Bad debts Expense click here
brainly.com/question/9314288
#SPJ11
a(n) arises when the seller's right to consideration from a customer is conditional upon something other than the passage of time. a.receivable b.asset c.contract liability d.contract asset
A contract asset arises when the seller's right to consideration from a customer is conditional upon something other than the passage of time. Therefore, the correct option is d.
A contract asset is defined as an asset arising from a contract with a customer when a seller has fulfilled its performance obligations and is entitled to an amount that is conditional upon something other than the passage of time.
In simple terms, a contract asset is an amount to be received by the seller for goods or services that have been provided to a customer, but the payment is dependent on the occurrence of an event other than the passage of time, such as the customer achieving a milestone. The contract asset is shown as an asset on the balance sheet until the specified condition is fulfilled.
Hence, a contract asset arises when the seller's right to consideration from a customer is conditional upon something other than the passage of time. This means that the seller has performed their obligations under the contract but needs to fulfill additional conditions to receive payment. The correct answer is option d.
Learn more about Asset:
https://brainly.com/question/27972503
#SPJ11
the challenge of healthcare managed services is to control costs due to lower medicare payments group of answer choices true false
Its true because Healthcare managed services are a type of outsourcing that enables healthcare facilities to concentrate on their core activities while a third-party provider handles the back-office tasks related to the administration of the facility.
The goal of managed services is to enhance the performance and productivity of a healthcare facility while also lowering expenses. Medicare is a federal health insurance program for people who are 65 or older, disabled, or have end-stage renal disease (permanent kidney failure). It also covers medical services for those under the age of 65 with certain disabilities. Medicare Part A, which covers hospital stays and other inpatient services, and Part B, which covers physician visits and other outpatient services, are the two primary components of the program.
Part C (Medicare Advantage) and Part D (prescription drug coverage) are also available to those who are eligible.Because healthcare facilities receive lower Medicare payments, healthcare managed services play a crucial role in controlling costs. Healthcare facilities can receive financial assistance through managed services outsourcing, which can provide various solutions such as human resources management, patient billing and collections, and supply chain management. This lowers the expenses of the healthcare facility, allowing them to provide a higher level of care and services to their patients while also making them more competitive in the industry.
Hence, the statement "the challenge of healthcare managed services is to control costs due to lower Medicare payments" is true.
Learn more about healthcare here:https://brainly.com/question/27741709
#SPJ11
a variance is the difference between the actual quantity of input used and the standard quantity of input that should have been used. need help? review these concept resources.
By analyzing variances, businesses can identify areas of improvement in their production processes, streamline operations, and ultimately, increase profitability.
Standard quantity of input: This is the amount of input, such as materials or labor, that is expected to be used in a production process under normal conditions. This standard is often based on historical data or industry benchmarks.
Actual quantity of input: This is the actual amount of input used during the production process. This can vary due to a variety of factors, such as changes in demand, inefficiencies, or improvements in the production process.
Variance: The variance is calculated by subtracting the standard quantity of input from the actual quantity of input. This difference shows whether the production process was more or less efficient than expected.Positive variance occurs when the actual quantity of input used is less than the standard quantity, indicating that the production process was more efficient than expected. Negative variance occurs when the actual quantity of input used is greater than the standard quantity, suggesting that the production process was less efficient than expected.
To calculate variance, follow these steps: Determine the standard quantity of input for the production process. Measure the actual quantity of input used during the production process. Subtract the standard quantity of input from the actual quantity of input to find the variance.
For such questions on production visit:
https://brainly.com/question/14293417
#SPJ11
the ppi is a price index that measures the cost to consumers of a typical basket of goods sold by firms. true false
The ppi is a price index that measures the cost to consumers of a typical basket of goods sold by firms. false
The Producer Price Index (PPI) is a price index that measures the average change over time in the selling prices received by domestic producers for their goods and services. It is one of the key economic indicators used by businesses, policymakers, and investors to understand the inflationary pressures in the economy.
The PPI is calculated by measuring the price changes of a representative basket of goods and services produced by domestic industries, and it includes both finished and intermediate goods. The PPI is closely watched because changes in producer prices can eventually affect consumer prices, and it provides insights into the direction of price changes for goods and services at the producer level.
Learn more about The Producer Price Index (PPI)
https://brainly.com/question/14501380
#SPJ4
jim is taking out a $135,000 mortgage. his bank offers him an apr of 3.32%. he wants to compare monthly payments on a 20- and a 30-year mortgage. find, to the nearest dollar, the difference in the monthly payments for these two loans. $177.78
$430 is the difference between a 20-year mortgage and 30-year Mortgage on a particular loan of $135,000 at a 3.32% annual percentage rate.
Mortgage refers to the clear and specific agreement between an individual and a lender, in the event the individual is unable to pay the loan taken the lender can take over the property or assets of the individual as payment.
therefore,
the calculated monthly payment on 20-year Mortgage is $902
and the calculated monthly payment on 30-year Mortgage is $1,332
now,
we need to subtract to find out the difference in monthly payments for these two loans
= 1332 - 902
= $430
$430 is the difference between a 20-year mortgage and 30-year Mortgage on a particular loan of $135,000 at a 3.32% annual percentage rate.
To learn more about Mortgage,
https://brainly.com/question/30093812
#SPJ4
The complete question is
Jim is talking out a $135,000 mortgage. His bank offers him an APR of 3.32%. He wants to compare monthly payments on a 20- and a 30-year mortgage. Find, to the nearest dollar, the difference in the monthly payments for these two loans?