Answer:
Students will eat the most under the fixed fee plan.
Explanation: The fixed fee plan whereby students can eat as much as they can after paying a one - time semester fee of $600 seems to provides students with a breakthrough from consumption constraint. One of the major factors which hampers the consumption rate of an individual is income. However, once there is no need to pay any additional fee aside the first payment, the issue of eveluating one's income when about to eat is expunged. The other plan seems expensive and will have a greater impact on student's income as the cost of food will increase with the number of meals taken therefore allowing student's to be more prudent in their consumption.
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
Answer:
The correct journal entry to record the payment on July 12 is:
Accounts Payable $1,600(debit)
Discount Received $32 (credit)
Cash $1,568 (credit)
Explanation:
When Company Purchases Merchandise
Merchandise Inventory $1,800 (debit)
Accounts Payable $1,800 (credit)
When Company Returns some Merchandise
Accounts Payable $200 (debit)
Merchandise Inventory $200 (credit)
When Company pay for the Inventory on 12 July
Note : Payment is made within the Cash discount period and it is eligible for the 2% Cash Discount.
Accounts Payable $1,600(debit)
Discount Received $32 (credit)
Cash $1,568 (credit)
The correct journal entry to record the payment on July 12 is:
Accounts Payable (debit) - $1,600
Discount Received (credit) - $32
Cash (credit) - $1,568
A journal entry is the process of recording any transaction, whether it is commercial or not. An accounting diary that displays the debit, as well as credit balances of a corporation, lists transactions.
The journal entry will be:
1. Merchandise Inventory (debit) - $1,800
Accounts Payable (credit) - $1,800
2. Accounts Payable (debit )- $200
Merchandise Inventory (credit) - $200
3. Accounts Payable (debit)- $1,600
Discount Received (credit) - $32
Cash (credit)- $1,568
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On April 30, Jemison Engineering receives a special order for a swing set to be delivered to the customer in a month's time. Jemison purchases a number of items specifically for the construction of the swing set: lumber, chains, railings and paint. According to the matching concept, when will Jemison Engineering record the cost of those special items as a cost of goods sold expense?
Answer:
When they record the sales revenue related to this special order.
Explanation:
The matching principle of accounting states that you must record revenue and all related COGS at the same time, i.e. when Jamison Engineering records sales revenue, they also must record COGS associated to the sales. Accrual accounting establishes that you cannot record COGS at a prior or later date.
Suppose the countries of Iceland and Norway set up a free trade area, eliminating all trade barriers between themselves but maintaining tariffs on imports from the rest of the world. Now, Iceland begins to import wool from Norway. However, Iceland had previously been importing wool from England, which produced wool more cheaply than both Iceland and Norway. What is this an example of
Answer:
Trade Bloc
Explanation:
Trade Bloc is a type of agreement between two sovereign nations in which barriers to trade are either reduced or totally eliminated between the two nations. This type of agreement can either be one agreement between several nations or a part of a regional organization.
So, the example of Iceland and Norway is an example of a trade bloc.
Q 11.35: Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for a price of $90,000. If the current market value of the stock is $75 per share, how should Felix journalize this transaction
Answer:
Felix Incorporated
Exchange of Preferred Stock for Land:
Journal Entries:
Debit Land $90,000
Credit Preferred Stock $81,250
Credit Additional Paid-in Capital - Preferred Stock $8,750
To record the issue of 1,250 of $65 par-value preferred stock for land with a fair price of $90,000.
Explanation:
Felix Incorporated will debit Land with the fair price of $90,000 and Credit the Preferred Stock account with $81,250 (1,250 x $65) at par-value. The difference between the fair price of land and the preferred stock at par-value is credited to additional paid-in capital account for preferred stock. Felix Incorporated cannot take into account the current market value of the stock at $75 in its accounting records. The current share price of $75 is for the benefit of investors, and can only serve as basis for Felix Incorporated to decide transactions with potential investors.
A coffee shop uses an online system to engage customers. After each transaction, customers receive a text asking them to rate their experience with either a smiley, neutral, or sad face emoji. This practice is an example of _______ control. behavioral concurrent bureaucratic feedforward feedback
Answer:
Feedback.
Explanation:
In this scenario, a coffee shop uses an online system to engage customers. After each transaction, customers receive a text asking them to rate their experience with either a smiley, neutral, or sad face emoji. This practice is an example of feedback control.
Feedback can be defined as the information acquired from customers or consumers about their reactions to a particular product bought or service taken. Business firms or entities use informations gathered through feedback to improve on the quality of their products or services being provided to consumers and to measure sales performance.
T-bills are offered in what monetary increment? $1 $10 $100 $1000
Answer:
1,000 is the answer
Explanation:
Because it is
Answer:
The correct answer is $100
Explanation:
This information has come directly from the U.S department of treasury.
Johan is the manager of CycleUp and has agreed to build a new manufacturing plant in Argentina. He realizes this decision will cause him to shut down a small plant in Ohio, but he decides that since the new facility will cut his operating costs in half, that is worth more than closing a plant employing ten people. Which philosophical approach to ethics does this demonstrate
Answer: Utilitarian
Explanation:
From the question, we are informed that Johan is the manager of CycleUp and has agreed to build a new manufacturing plant in Argentina and that he realizes this decision will cause him to shut down a small plant in Ohio, but he decides that since the new facility will cut his operating costs in half, that is worth more than closing a plant employing ten people
This is referred to as utilitarianism.
Utilitarianism seeks to make the society as a whole better even though it might comes as an expense to a few individuals for the larger society to enjoy.
In ______ cycle theory, fluctuations in both investment and consumption expenditure, driven by fluctuations in the growth rate of the quantity of money, are the main source of fluctuations in aggregate demand.
Answer: Monetarist
Explanation:
The monetarist theory is a theory which believes that the changes in the supply of money is the most important factor in the growth of an economy.
In this concept, economic stability can be fostered through targeting the money supply. The theory assume that the fluctuations in both the investment and consumption expenditure, which are s a result of the fluctuations in growth rate of the quantity of money, are the main source of fluctuations in aggregate demand.
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $98,800; Allowance for Doubtful Accounts, credit balance of $1,121. What amount should be debited to Bad Debts Expense, assuming 5% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible
Answer:
Amount of Bad debts expenses is $3,819
Explanation:
Estimated balance of allowance for doubtful debts account = Accounts receivables * 5%
= $98,800 * 5%
= $98,800 * 0.05
= $4,940
Calculation
Estimated balance of allowance for doubtful debts account = $4,940
Less: Un adjusted credit balance in allowance account = ($1,121)
Bad debts expenses= $3,819
The un-adjusted credit balance is deducted from the estimated balance of allowance accounts. The un-adjusted debit balance is added to the estimated balance of allowance accounts.
Suppose a monopoly firm produces bicycles and can sell 10 bicycles per month at a price of $700 per bicycle. In order to increase sales by one bicycle per month, the monopolist must lower the price of its bicycles by $50 to $650 per bicycle. The marginal revenue of the 11th bicycle is
Answer:
$150
Explanation:
A monopoly is when there's only one firm operating in an industry
Marginal revenue is the change in revenue when one extra unit of a product is sold.
=( $700 × 10) - (650 × 11) = $150
Nick won $1000 lottery prize He can't decide what he should spend the money con buy a console, a bike ,a watch or a trip . He gives up the bike and the watch but he rally wants the console. In the end he saves it all for the trip. Which item is the opportunity cost of Nick's trip?
Answer: Console
Explanation:
Opportunity cost is what one forgoes in order to get somethings else. Opportunity cost is as a result of limited resources hence a choice has to be made.
From thw question, we are told that
Nick won $1000 lottery prize and he can't decide what he should spend the money on buy as he wanted a console, a bike ,a watch or go on a trip. We are further told that he gives up the bike and the watch but he really wants the console and that in the end he saves it all for the trip.
The opportunity cost here is the console. He wasn't really interested in the bike or watch but he really as very interested in the console and he eventually gave up on the console for the trip.
A 10-year corporate bond has a 6 percent coupon, a call premium of $60, and a first call date in year 4. Market interest rates are 6.5 percent and are expected to rise for an extended period. If you plan to hold the bond, which yield should you most consider before buying the bond
Answer:
YTC = 8.3%
Explanation:
you should calculate the yield to call (YTC)
YTC = {coupon + [(call value - market value)/n]} / [(call value + market value)/2]
but we first need to calculate the market value:
PV of face value = $1,000 / (1 + 6.5%)¹⁰ = $532.73
PV of coupons = $60 x 7.18883 (PV annuity factor, 6.5%, 10 periods) = $431.33
market price = $532.73 + $431.33 = $964.06
YTC = {60 + [(1,060 - 964.06)/4]} / [(1,060 + 964.06)/2] = 83.985 / 1,012.03 = 8.3%
Which of the following scenarios best illustrates bundling? Cumulus Media Inc. sells its cloud computing network by having customers pay for the service as they use it. Fresh Seeds Inc. sells seed packages, in which a person can buy a package of three types of seeds at a discounted price compared to buying the seeds individually. Sharp Cable Inc. sells its basic TV channels for free but charges high prices for any channels that customers add on later. Clean Brush Inc. sells its electric toothbrushes for a low cost, but charges a high price for replacement brushes.
Answer:
The scenario that best illustrate BUNDLING is option B which state that:
Fresh Seeds Inc. sells seed packages, in which a person can buy a package of three types of seeds at a discounted price compared to buying the seeds individually
Explanation:
BUNDLING occur when a company or an organisation combine different product together as a package and than sell those product at a discounted amount or lower price instead of charging their customers to buy those product separately
For example, a customers may prefer iPhone 6 than iPhone 5 Instead of the company to sell iPhone 6 for $500 dollars and iPhone 5 for $400 dollars each, the company will then bundles or combined the two product and sells them at a discounted price or amount of $300.
A company pays an employee $3,000 for a five-day work week, monday–friday. the adjusting entry on december 31, which is a wednesday, is a debit to wages expense, $1,800, and a credit to wages payable, $1,800. true
Answer: True
Explanation:
From the question, we are told that a company pays an employee $3,000 for a five-day work week from Monday to Friday. This means that the employee receives a daily payment of ($3,000/5) = $600.
On Wednesday which is the third day, he will be paid ($600 × 3) = $1800. Therefore , the adjusting entry on December 31, which falls on a Wednesday will be to debit the wages expense, $1,800, and then credit to wages payable of $1,800.
What best describes the kinds of companies in which a socially responsible
investor would invest his or her money?
O A. Companies that rely on nonmonetary calculations when doing
cost-benefit analysis
B. Companies with a business model and social mission that the
investor supports
O C. Companies that put profit-maximization above all other
considerations
O D. Companies that work toward decreasing marginal utility for a
society
Answer: Companies with a business model and social mission that the
investor supports
The nominal exchange rate is about 2 Aruban florin per dollar. If a basket of goods in the United States costs $50, how many florins must a basket of goods in Aruba cost for purchasing-power parity to hold
Answer:
100 florins
Explanation:
Purchasing Power Parity is a theory which compares currency of different countries through basket of goods. This is a method to compare purchasing power of currencies of different countries. If nominal exchange rate is 2 Aruban florin per dollar and basket of good in United States cost $50 then there must be 100 florins in the basket.
2 Florin per dollar * $50 = 100 Florins.
In a closed economy, the values for gdp, consumption spending, investment spending, transfer payments, and taxes are as follows: y = $11 trillion c = $8 trillion i = $2 trillion tr = $1 trillion t = $2 trillion using the information above, what is the value of private saving and public saving?
Answer:
Private saving = $2 trillion
Public saving = $1 trillion
Explanation:
Private saving = GDP - Taxes + Transfer payments - Consumption spending
= Y - T + TR - C
= $11 - $2 + $1 - $8
= $2 trillion
Public saving = Taxes - Government spending - Transfer payments
= T - G - TR
= $2 - $0 - $1
= $1 trillion
Therefore;
Private saving = $2 trillion, Public saving = $1 trillion
Which best describes a way people can use personal loans? to buy a house to buy a bicycle to pay for college to pay for groceries
Answer:
c. to pay for college
Explanation:
just took the test
Answer:
C. to pay for college
Explanation:
Florida state saving bond can be converted to $1000 at maturity date of five year from purchase if the state bond are to be competitive with the USA saving bonds which pay 1% interest compounded annually at what price will the state bonds sell
Answer:
The price will the state bonds sell would be $951.46
Explanation:
In order to calculate the price will the state bonds sell we would have to make the following calculation:
price will the state bonds sell=price to be converted/(1+interest rate)∧n
According to given data we have the following:
price to be converted=can be converted to $1,000 at maturity date of five year from purchase
interest rate=1%
n=5
Therefore, price will the state bonds sell=$1,000/(1+1%)^5
price will the state bonds sell=$951.46
The price will the state bonds sell would be $951.46
How does the ability to discriminate correctly affect his or her earnings? A. If the negotiated price is higher than the reservation price, a sale is lost, and if the negotiated price is lower than the reservation price, some profit is lost. B. If the negotiated price is higher than the reservation price, some profit is lost, and if the negotiated price is lower than the reservation price, a sale is lost. C. If the reservation price is higher or lower than the reservation price, revenue is gained. D. If the reservation price is higher or lower than the reservation price, a sale is lost. E. If the negotiated price equals the reservation price, profit equals zero.
Answer:
if the negotiated price equals the reservation price profit is zero
The CEO/chairman of PharmaPacifica was recently killed in an airplane crash. This tragedy has thrown PharmaPacifica into turmoil as there is no one in the organization qualified to step into the former CEO’s shoes. This is an example of:
Answer:
A failure or lack of succession management
Explanation:
The going concern of any business should always be its top priority. This is the reason why every organization should have a good succession planning and management in place.
Succession management is a process of having in place a program that prepares and equips potential leaders with adequate experience and skills to take over from incumbent leaders whenever they are out of service , so that the business can maintain its existence into the future.
In a situation where a succession management is not in place or effective , the death of a leader causes a major setback to the business as can be seen in the question.
An investment adviser structured as a partnership lends money to a customer to buy recommended securities. Under NASAA's Model Rule on Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers, this activity is
A) acceptable, provided the securities are used as collateral for the loan and the loan conforms to the provisions of Regulation T.
B) acceptable, provided the loan is made under the provisions of Regulation T of the Federal Reserve.
C) unethical.
D) acceptable, provided the securities are used as collateral for the loan.
Answer: Unethical
Explanation: Based on the model and policy of the North America Securities Administrator's Association, the investment adviser cannot lend money to a customer to purchase recommended securities under the guise of being partners, such behavior is deemed UNETHICAL and in violation of the rule binding the practices and investment advisers and investment adviser representatives.
Customers can purchase securities by taking loans from recommended or regulated lender, broker or bank.
In her research paper, Kirstein copied a few paragraphs from a renowned author's work verbatim without placing them within quotation marks or citing the source. The review board rejected her paper on grounds of plagiarism. In this scenario, Kirstein has committed:_________.
Answer:
Word-for-word.
Explanation:
Word for word plagiarism is seen to be an unethical form of writing where the said student or researcher is seen to copy a fellow researchers works verbatim and particularly word for word with also quotation marks too. In as much as this is a bad form for writers, people are always seen to commit themselves in still doing it. This can cause a lawsuit in some places depending on the researcher whose work is been stolen/copied.
In all, it is been tagged an act of intellectual dishonesty which comes with uneasy consequences when it is done to a wrong person; a plagiarized assignment may lead to a failing grade, a suspension, or an expulsion.
Hearing that her job has been terminated, Eleanor has responded by saying, "I never will get another job. There is no other work that I can do." Her counselor responds by saying, "There are other jobs that you can do. I will help you consider other types of work." The counselor's statements most clearly fits:______.
A. Holland's theory.
B. Myers- Briggs Type theory.
C. social learning theory.
D. Super's developmental theory.
Answer:
C
Explanation:
Sal purchased a used toaster at a yard sale. The seller told Sal that although the toaster was more than 10 years old, she had not had any problems with it. Sal takes the toaster home and uses it for a few months. One day, however, as Sal was using the toaster, it malfunctioned and caused a small fire in Sal's kitchen along with significant smoke damage. Sal decides to sue the manufacturer of the toaster and will do so within one month of the fire. What would likely be the manufacturer's best defense in a strict liability in tort action brought by Sal?
Answer:
The manufacturer of the toaster would argue from the point of view of the warranty offered for the toaster. In most electronic products, the manufacturer offers warranty ranging from 1 year to 5 years.
For the toaster to have worked for more than 20 years without any problem shows that it was a good product. And, the warranty must have expired hence the need not to be held responsible for whatever happened to it.
Explanation:
Exhibit 15-3 Potatoes and wheat output (tons per day) Country Potatoes Wheat United States 4 2 Ireland 3 1 In Exhibit 15-3, the United States has an absolute advantage in producing: Group of answer choices
Answer:
The answer is "Both potatoes and wheat"
Explanation:
The actual value of US production is a productivity gain, which is the value of potatoes and wheat, since it will yield more with a given day than in Ireland. Unless the country has it, otherwise nation A (USA) created the product more for country B (Ireland), the benefit between two commodities. Instead of the national comparative benefit, foreign trade is based on the concept of competitive advantage.Silas Company reported the following information for 2015: Sales revenue $500,000 Cost of goods sold 350,000 Operating expenses 55,000 Unrealized holding gain on available-for-sale securities 20,000 Cash dividends received on the securities 2,000 For 2015, Silas would report comprehensive income of
Answer:
$20,000
Explanation:
Since there are cash gains that have not been realized as a result of the goods not being sold complete;y. This means that there is still more cash for to be inputted into the account information when a comprehensive income review is done.
from the question, it shows that $20,000 is te unrealized gain and as such is the going to be part of comprehensive income when the books of Silas company are to be reckoned.
Cheers.
Who may pay for the services of alcoholic beverage in a private club
Answer:
Members Only
Explanation:
In a monopolistically competitive market, a. the entry of new firms creates externalities. b. the absence of restrictions on entry by new firms ensures that there will be no deadweight loss. c. there are always too many firms in the market relative to the socially-optimal number of firms.
Better choose A variant
Felicia is very warm and accepting to both of her two children, but she also sets firm rules that the children must follow with very few exceptions. The characteristics that best describe her are:
Answer:
Responsive and demanding
Explanation:
according to Baumrind, there are four parenting styles :
Authoritative
authoritarian
permissive
Neglectful
Parenting behaviour are divided into two dimensions :
demandingness - when a parent controls their child's actions
Responsiveness - refers to the extent to which the parent accepts and recognises their child's needs