The company can track amounts going to accounts receivable: Schedule of accounts payable.
The company can create a spreadsheet for adjusting entries: Worksheet
The company can create a master list of accounts: Chart of accounts
The company can reduce duplicate payments: Customer invoice
The company can track amounts owed to suppliers: Vendor file
Here's the correct matching of the descriptions to the appropriate accounting components:
This component is used to maintain records of all the vendors or suppliers the company deals with, including details such as contact information, payment terms, and outstanding balances.This component provides a listing of all the outstanding amounts the company owes to its vendors or suppliers. It helps in managing and tracking the company's liabilities.This component is used to generate invoices for the products or services the company sells to its customers. By providing clear and accurate invoices, the company can avoid making duplicate payments for the same transaction.This component is a structured listing of all the accounts used in the company's financial records. It provides a systematic way to categorize and organize financial transactions, making it easier to track and report on the company's financial activities.A worksheet is a tool used in accounting to analyze and adjust financial information before preparing financial statements. It helps in making adjustments for accruals, prepayments, depreciation, and other items to ensure accurate financial reporting.For such more question on adjusting entries:
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Our business has been running
for a bit. As in the last lesson,
we've made some sales and paid
rent. To see how these are
recorded in a journal, click
Accounting Docs-Journal.
The most recent transaction is at
the bottom.
What is our most recent
transaction?
A- Purchase of parts
B- Sale, paid by cash
C- Payment of rent
The most recent transaction is Option B. Sale, paid by cash
This is indicated by the last entry at the bottom of the journal as the most recent transaction. Journal entries are used to record financial transactions. They provide a record of every transaction that takes place in the company. The purpose of a journal is to keep a record of all business transactions in chronological order.
As a result, each transaction is recorded in the journal as it happens so that the company has a complete record of its financial dealings. The journal is also used to create an audit trail of the financial transactions that have occurred. The most recent transaction in the journal is at the bottom, which means that all the previous transactions have been recorded. In this case, the most recent transaction is a sale that was paid for by cash.
This means that the company has made a sale and has received payment in cash. This information is important because it allows the company to keep track of its sales and revenue. It also helps the company to identify any potential issues with its cash flow, such as if there are delays in payments or if there are any other problems that need to be addressed. Therefore, the correct option is B.
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Based on the economic theory and the article, provide an alternative item(s) to tax that would be more efficient. Explain why taxing that item would be more efficient.
One alternative item to tax that would be more efficient based on economic theory and the article are Pigouvian taxes, which are taxes on goods that have a negative externality. This tax would be more efficient because it would reduce the negative externality of pollution and provide an incentive for people to use less gasoline.
A negative externality is a cost imposed on society that is not factored into the market price. For example, pollution from cars imposes costs on society in the form of health problems and environmental damage. A Pigouvian tax on gasoline would increase the price of gasoline to account for these costs and encourage people to drive less or use more fuel-efficient cars.
In contrast, a tax on soda would not address a negative externality and would likely be regressive, meaning it would disproportionately affect low-income individuals who spend a higher percentage of their income on soda. Additionally, the article mentioned that there are already many taxes on soda, and further taxing it may not significantly reduce consumption.
In contrast, a Pigouvian tax on gasoline would be a new tax that would effectively address a negative externality. Overall, Pigouvian taxes are a more efficient way to tax because they internalize the costs of negative externalities and encourage individuals to make more socially optimal choices.
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diversity issues(only five diversity issues)
Racial and Ethnic Diversity: One of the most prevalent diversity issues is the underrepresentation and marginalization of certain racial and ethnic groups. Discrimination, prejudice, and systemic barriers can hinder equal opportunities and inclusion for individuals from diverse racial and ethnic backgrounds.
Gender Inequality: Gender diversity issues involve disparities between genders, such as unequal access to education, employment opportunities, and leadership positions. Gender stereotypes, biases, and discriminatory practices contribute to gender inequality and hinder progress toward gender equity.
LGBTQ+ Rights: LGBTQ+ diversity issues encompass discrimination, exclusion, and lack of legal protections faced by lesbian, gay, bisexual, transgender, and queer individuals. Issues include limited legal recognition, employment discrimination, and social stigma, which can negatively impact the well-being and rights of LGBTQ+ individuals.
Disability Inclusion: Disability diversity issues involve the exclusion and discrimination faced by people with disabilities. Challenges include inaccessible physical environments, limited employment opportunities, and social prejudice. Ensuring equal access, reasonable accommodations, and inclusive practices are crucial for disability inclusion.
Socioeconomic Inequality: Socioeconomic diversity issues encompass disparities based on income, wealth, and social class. Individuals from lower socioeconomic backgrounds often face limited access to quality education, healthcare, and employment opportunities, which can perpetuate cycles of poverty and inequality.
If interest is 5% compounded annually, calculate the future value of five year cash flows of $1,000 in year 1; $2,000 in year 2; $3,000 in year 3; $4,000 in year 4 and $5,000 in year 5.
Multiple Choice
$16,238.26
$16,638.26
$16,438.26
$16,838.26
$16,038.26
Option A. $16,238.26 is the closest approximation of the calculated future value.
To calculate the future value of the cash flows, we need to apply the compound interest formula:
Future Value = Present Value * [tex](1 + Interest Rate)^{Number of Periods}[/tex]
In this case, we have five cash flows over five years, and the interest rate is 5% compounded annually. Let's calculate the future value step by step:
Year 1: Future Value = $1,000 * [tex](1 + 0.05)^{1}[/tex] = $1,050
Year 2: Future Value = $2,000 * [tex](1 + 0.05)^{2}[/tex] = $2,205
Year 3: Future Value = $3,000 * [tex](1 + 0.05)^{3}[/tex] = $3,152.25
Year 4: Future Value = $4,000 * [tex](1 + 0.05)^{4}[/tex] = $4,310.06
Year 5: Future Value = $5,000 * [tex](1 + 0.05)^{5}[/tex] = $5,525.63
Now, we sum up all the future values:
Total Future Value = $1,050 + $2,205 + $3,152.25 + $4,310.06 + $5,525.63
Total Future Value = $16,243.94
Therefore, the closest option is A. $16,238.26.
It's important to note that the answer might differ slightly depending on the rounding method used at each step of the calculations. However, based on the given options, A. $16,238.26 is the closest approximation of the calculated future value. Therefore, the correct option is A.
The question was incomplete, Find the full content below:
If interest is 5% compounded annually, calculate the future value of five-year cash flows of $1,000 in year 1; $2,000 in year 2; $3,000 in year 3; $4,000 in year 4, and $5,000 in year 5.
Multiple Choice
A. $16,238.26
B. $16,638.26
C. $16,438.26
D. $16,838.26
E. $16,038.26
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The Smelting Department of Polzin Company has the following production and cost data for September. Production Beginning work in process 2,000 units that are 100% complete as to ma- terials and 20% complete as to conversion costs; units started and finished 9,000 units; and ending work in process 1,000 units that are 100% complete as to materials and 40% complete as to conversion costs.
Manufacturing costs Work in process, September 1, $15,200 materials added $60,000; labor and overhead $132,000. Polzin uses the FIFO method to compute equivalent units. Instructions (a) Compute the equivalent units of production for (1) materials and (2) conversion costs for the month of September. (b) Compute the unit costs for the month. (c) Determine the costs to be assigned to the units transferred out and in process.
Answer:
Hope this helps and have a nice day
Explanation:
(a) To compute the equivalent units of production for materials and conversion costs for the month of September, we need to consider the percentage of completion for each unit.
Equivalent units of production for materials:
Beginning work in process: 2,000 units * 100% complete = 2,000 units
Units started and finished: 9,000 units * 100% complete = 9,000 units
Ending work in process: 1,000 units * 100% complete = 1,000 units
Total equivalent units of production for materials: 2,000 units + 9,000 units + 1,000 units = 12,000 units
Equivalent units of production for conversion costs:
Beginning work in process: 2,000 units * 20% complete = 400 units
Units started and finished: 9,000 units * 100% complete = 9,000 units
Ending work in process: 1,000 units * 40% complete = 400 units
Total equivalent units of production for conversion costs: 400 units + 9,000 units + 400 units = 9,800 units
(b) To compute the unit costs for the month, we need to divide the total manufacturing costs by the equivalent units of production.
Unit cost for materials: $60,000 / 12,000 units = $5 per unit
Unit cost for conversion costs: $132,000 / 9,800 units = $13.47 per unit
(c) To determine the costs to be assigned to the units transferred out and in process, we multiply the unit costs by the equivalent units of production.
Costs assigned to units transferred out:
Materials: $5 per unit * 9,000 units = $45,000
Conversion costs: $13.47 per unit * 9,000 units = $121,230
Costs assigned to units in ending work in process:
Materials: $5 per unit * 1,000 units = $5,000
Conversion costs: $13.47 per unit * 400 units = $5,388
Therefore, the costs to be assigned to the units transferred out and in process are as follows:
- Units transferred out: $45,000 for materials and $121,230 for conversion costs
- Units in ending work in process: $5,000 for materials and $5,388 for conversion costs.
Which of the following is NOT a push factor? O a. Saturation of domestic demand O b. O C. o d. O e. Growth of regional trading blocks Improving image of the companies Domestic recession Strategic vision
The option that best fits here is
c. Improving image of the companies.Why is the option is the best choiceImproving image of the companies is not considered a push factor. Push factors typically refer to aspects or conditions that compel individuals or companies to leave a particular location or market.
The options provided include a mix of push factors and other factors, but improving company image is more related to internal factors or business strategies rather than being a push factor that drives companies to move or expand into new markets.
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