this information is true
Your uncle is offering to sell you his T-shirt printing business for $1M. You think a multiple of 10X earnings (profit) is fair. His earnings are $69,000 per year. Should you buy it?
The following were selected from among the transactions completed during the current year by Danix Co., an appliance wholesale company: Jan. 21 Sold merchandise on account to Black Tie Co., $29,400. The cost of merchandise sold was $17,640. Mar. 18 Accepted a 60-day, 6% note for $29,400 from Black Tie Co. on account. May 17 Received from Black Tie Co. the amount due on the note of March 18. June 15 Sold merchandise on account to Pioneer Co. for $15,700. The cost of merchandise sold was $9,420. 21 Loaned $6,000 cash to JR Stutts, receiving a 30-day, 8% note. 25 Received from Pioneer Co. the amount due on the invoice of June 15. July 21 Received the interest due from JR Stutts and a new 60-day, 9% note as a renewal of the loan of June 21. (Record both the debit and the credit to the notes receivable account.) Sept. 19 Received from JR Stutts the amount due on her note of July 21. 22 Sold merchandise on account to Wycoff Co., $60,000. The cost of merchandise sold was $36,000. Oct. 14 Accepted a 60-day, 6% note for $60,000 from Wycoff Co. on account. Nov. 13 Wycoff Co. dishonored the note dated October 14. Dec. 28 Received from Wycoff Co. the amount owed on the dishonored note, plus interest for 15 days at 12% computed on the maturity value of the note. Required: Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank.Jan. 21-sale Jan. 21-cost Mar. 18 May 17 June 15-sale June 15-cost June 21 June 25 July 21 Sept. 19- note Sept. 22-sale Sept. 22-cost Oct. 14 Nov. 13 Dec. 28
The journal entries for the transactions by Danix co during the year, using a 360-day year are as follows:
Jan. 21 Debit Accounts Receivable (Black Tie Co.) $29,400
Credit Sales Revenue $29,400
Debit Cost of Goods Sold $17,640
Credit Inventory $17,640
Mar. 18 Debit Note Receivable (Black Tie Co.) $29,400
Credit Accounts Receivable (Black Tie Co.) $29,400
60-day, 6% note
May 17 Debit Cash $29,694
Credit Note Receivable (Black Tie Co.) $29,400
Credit Interest Revenue $294
June 15 Debit Accounts Receivable (Pioneer Co.) $15,700
Credit Sales Revenue $15,700
Debit Cost of Goods Sold $9,420
Credit Inventory $9,420
June 21 Debit 8% Note Receivable (JR Stutts) $6,000
Credit Cash $6,000
a 30-day, 8% note.
June 25 Debit Cash $15,700
Credit Accounts Receivable (Pioneer Co.) $15,700
July 21 Debit Cash $40
Credit Interest Revenue $40 ($6,000 x 8% x 30/360)
9% Note Receivable (JR Stutts) $6,000
Credit 8% Note Receivable (JR Stutts) $6,000
To record the exchange with a 60-day, 9% note.
Sept. 19 Debit Cash $6,090
Credit 9% Note Receivable (JR Stutts) $6,000
Credit Interest Revenue $90
($6,000 x 9% x 60/360)
Sept. 22 Debit Accounts Receivable (Wycoff Co.) $60,000
Credit Sales Revenue $60,000
Debit Cost of Goods Sold $36,000
Credit Inventory $36,000
Oct. 14 Debit 6% Note Receivable (Wycoff Co.) $60,000
Credit Accounts Receivable (Wycoff Co.) $60,000
Accepted a 60-day, 6%
Dec. 13 Debit Accounts Receivable (Wycoff Co.) $60,600
Credit Interest Receivable $600
Credit 6% Note Receivable (Wycoff Co.) $60,000
Dec. 28 Debit Cash $60,903
Credit Interest Receivable $600
Credit Accounts Receivable (Wycoff Co.) $60,600
Credit Interest Revenue $303
($60,600 x 12% x 15/360) interest for 15 days at 12% computed on the maturity value of the note.
Data Analysis:
Jan. 21 Accounts Receivable (Black Tie Co.) $29,400 Sales Revenue $29,400
Cost of Goods Sold $17,640 Inventory $17,640
Mar. 18 Note Receivable (Black Tie Co.) $29,400 Accounts Receivable (Black Tie Co.) $29,400 60-day, 6% note
May 17 Cash $29,694 Note Receivable (Black Tie Co.) $29,400 Interest Revenue $294
June 15 Accounts Receivable (Pioneer Co.) $15,700 Sales Revenue $15,700 Cost of Goods Sold $9,420 Inventory $9,420
June 21 8% Note Receivable (JR Stutts) $6,000 Cash $6,000 a 30-day, 8% note.
June 25 Cash $15,700 Accounts Receivable (Pioneer Co.) $15,700
July 21 Cash $40 Interest Revenue $40 ($6,000 x 8% x 30/360)
9% Note Receivable (JR Stutts) $6,000 8% Note Receivable (JR Stutts) $6,000
60-day, 9% note
Sept. 19 Cash $6,090 9% Note Receivable (JR Stutts) $6,000 Interest Revenue $90 ($6,000 x 9% x 60/360)
Sept. 22 Accounts Receivable (Wycoff Co.) $60,000 Sales Revenue $60,000
Cost of Goods Sold $36,000 Inventory $36,000
Oct. 14 6% Note Receivable (Wycoff Co.) $60,000 Accounts Receivable (Wycoff Co.) $60,000
Accepted a 60-day, 6%
Dec. 13 Accounts Receivable (Wycoff Co.) $60,600 Interest Receivable $600 6% Note Receivable (Wycoff Co.) $60,000
Dec. 28 Cash $60,903 Interest Receivable $600 Accounts Receivable (Wycoff Co.) $60,600Interest Revenue $303 ($60,600 x 12% x 15/360) interest for 15 days at 12% computed on the maturity value of the note.
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Employees have leadership prototypes, which they use to Multiple Choice decide whether a leader is effective based on their perception of how the leader should look and act. help them interact more effectively with leaders across cultures. attribute the actions of leaders to external causes rather than to internal attributes. personally engage in shared leadership. decide whether they should become a leader rather than a follower.
Based on implicit leadership theory, Employees have leadership prototypes, which they use to "decide whether a leader is effective based on their perception of how the leader should look and act."
What is Leadership Prototype?Leadership Prototype generally occurs when people evaluate or assess a leader's effectiveness.
Leadership prototypes are implicit leadership whereby individuals use the cognitive indication of an actual or abstract leader believed to possess all leaders' attributes.
Hence, in this case, it is concluded that the correct answer is to "decide whether a leader is effective based on their perception of how the leader should look and act."
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The data given below are from the accounting records of the Kuhn Corporation:
Net Income (accrual basis) $45,000
Depreciation Expense $9,000
Decrease in Accounts Payable $2,500
Decrease in Inventory $3,000
Increase in Bonds Payable $10,000
Sale of Common Stock for cash $30,000
Increase in Accounts Receivable $4,500
Based on this information, the net cash provided by operating activities using the indirect method would be:__________.
a. $55,000
b. $58,000
c. $50,000
d. $60,000
The net cash provided by operating activities using the indirect method would be: c. $50,000.
Net Cash From Operating Activities
Net income $45,000
Depreciation expense $9,000
Decrease in accounts payable ($2,500)
Decrease in inventory $3,000
Increase in accounts receivable ($4,500)
Net cash provided by operating activities $50,000
Inconclusion the net cash provided by operating activities using the indirect method would be: c. $50,000.
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Discuss how brainstorming can be used in developing new enterprise ideas.
Answer:
brainstorming is just about makeing imaginations inside of your mind
Rational and Normative modes of decision making are used. Then intuition or gut feeling also play a role in this process. How does a manager, making decisions in real life situation, strike a balance between these modes to make quick but right decisions.
A manager, making decisions in real-life situations, strikes a balance between these ways to make quick but correct decisions based on systemic organizational vision and conceptual skills.
The manager's experience will help him to make decisions using rational and normative ways, and thus analyze what is the best strategy for effective decision making.
Conceptual skills refer to the manager's systemic view, which understands the organization as an integrated system and must involve a set of thoughts, processing and planning to improve the business.
Therefore, decision making must be taken in a rational and normative way according to the context of the situation that requires a decision, and it is up to the manager to use the best tool to make a decision aligned with the company's objectives and goals.
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Paul Scott has a 2014 Cadillac that he wants to update with a satellite-based emergency response system so that he will have access to roadside assistance should he need it. Adding this feature to his car requires a flat fee of $500, and the service provider requires monthly charges of $20. In his line of work as a traveling salesperson, he estimates that this device can save him time and money, about $35 per month. He plans to keep the car for another 3 years.
Required:
a. Calculate the breakeven point for the device in months.
b. Based on a, should Paul have the GPS system installed in his car?
Question 4
What is the main risk posed by pests in the operation?
SELECT ONE
a
Cross-contact
b Chemical contamination
C Temperature abuse
d Biological contamination
The main risk posed by pests when it comes to food is that of d. Biological contamination
Pests are very bad for food because:
They can infect it with faces They can infect the food with dangerous pathogensFetal contamination and bacterial (pathogenic) infections are examples of biological contamination.
We can therefore conclude that pests are more likely than not, to pose a risk of biological contamination.
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A company has sales of $375,000. Its gross profit is $157,500, and total expenses of $75,000. Its cost of goods sold equals
The cost of goods sold equals $217,500
Cost of goods sold is the cost of a product to a manufacturer or retailer. It is a direct cost incurred in the production of goods and services
Cost of goods sold includes but not limited to the following :
Material costDirect labor costDirect factory overheadCost of goods sold is computed as :
= Sales - Gross profit
Given that :
Sales = $375,000
Gross profit = $157,500
Then,
Cost of goods sold would be :
= $375,00 - $157,500
= $217,500
Hence, the company's cost of goods sold is $217,500
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Thaddeus is eighty-two years old and lives by himself in his rent-stabilized apartment. He is on a fixed income and has no family. He purchased a set of premium cast-iron cooking pots after meeting Henry, a salesperson, at the supermarket. Thaddeus signed the contract in the coffee shop next door after the two men left the supermarket. The cooking pot set cost $2,400 and is payable in 24 equal monthly installments. The same set retails for $1,000 elsewhere. The next day, Thaddeus decides that he cannot afford the cooking pot set.
a. The circumstances surrounding the transaction would be considered by the court, including the bargaining power of the parties.
b. The doctrine of unconscionability would probably allow Thaddeus to be released from his obligation.
c. The contract unreasonably favors Henry.
d. All of the above.
The doctrine of unconscionability would probably allow Thaddeus to be released from his obligation. Option (b) is correct.
What do you mean by Transaction?An executed contract between a buyer and a seller to trade goods, services, or financial assets in exchange for money is known as a transaction. The phrase is also frequently used in business accounting.
The exploitation component—where the stronger party takes use of the weaker party's weakness with real or constructive awareness of that weakness—is the foundation of the notion of unconscionability.
Exculpatory clauses and disclaimers / restrictions of warranty responsibility are two common categories of possibly unconscionable clauses. Exculpatory clauses absolve a party from responsibility for harms that they inflict.
Therefore, Option (b) is correct. The doctrine of unconscionability would probably allow Thaddeus to be released from his obligation.
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We may request personal information when you register to receive additional information ________ our products and services.
A. regards
B. regarded
C. regarding
D. regarding to
Answer:
D) Regarding to
How will unemployment trends impact a person's professional career choice?
Answer:they can make them not want to work anymore
Explanation:
Both you and your older brother would like to have $28,500 in 14 years. Because of your success in this class, you feel that you are a more savvy investor than your brother and will be able to earn an annual return of 10.5 percent compared to your brother's 8.7 percent. How much less than your brother will you have to deposit today
How much less than your brother will you have to deposit today is $1,820.78.
First step
Future value = Present value × (1 + interest rate)^number of years
$28,500 = Present value × (1 + 0.105)^14
Present value= $28,500 ÷ 1.105^14
Present value= $28,500 ÷ 4.04642869977
Present value=$7,043.25
Second step
Future value = Present value × (1 + interest rate)^number of years
$28,500 = Present value × (1 + 0.087)^14
Present value= $28,500 ÷ 1.087^14
Present value= $28,500 ÷3.21524163645
Present value=$8,864.03
Third step
Deposit today=-$8,864.03-$7,043.25
Deposit today= $1,820.78
Inconclusion how much less than your brother will you have to deposit today is $1,820.78.
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You are considering employment opportunities after graduation. What would you look for in identifying a prospective employer's company's culture
Answer:
What would you look for in identifying a prospective employer's company's culture?
Explanation:
benchmarking the company's performance of activities and business processes against "best-in-industry" performers
We would look for the atmosphere, spirit and character that pervades the work climate and the values, business principles, and ethical standards that management preaches and practices in identifying a prospective employer's company's culture.
What do you understand about the company's culture?A company's culture is how we do what we do in the workplace. It’s the sum of our formal and informal systems and behaviours and values, all of which create an experience for our employees and customers. At its core, company culture is how things get done around the workplace. “How” includes both the formal systems and the informal behaviours.
For example, our company may use instant messaging software to communicate throughout the day, and it may also be okay to yell at a coworker to get your point across. Our systems and behaviours give employees the rules of the road for interacting with the business, and each other.
Company culture is often something we can feel, even as an outsider.
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Describe how personal goals, lifestyle, background, hobbies, interests, experience, abilities and financial
resources will impact a business.
It should be noted that personal goals, lifestyle, financial resources play a vital role in the success and growth of a business.
Experience plays a vital role in q business. When an individual has previous experience regarding a business, this will help shape the person in the right direction.
Also, having the financial resources to meet one's needs are important. Having huge finance can aid the development of one's business.
One's lifestyle and background also matter. It's important to engage in the activities that will lead to the success of the business.
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what business you want to stablish in the future ? why ?
Answer:
Business I want to stablish in the future is a store.
Explanation:
Because many people buy in a store.
Johan is a 25-year-old, single taxpayer with modified adjusted gross income of $18,500. During Tax Year 2020, he made a $2,000 contribution to his employer's 401(k) plan. He has never taken a distribution from any retirement plan. The maximum amount Johan may receive for the retirement savings contributions credit (Saver's Credit) is:
Johan is entitled to receive a maximum of $1,000 for the retirement savings contributions credit.
The amount of Saver's Credit claimed depends on the adjusted gross income and the tax filing status. In a single year, the claim made can be either 50%, 20%, or 10% for the first contribution of $2,000 made during the year for a retirement account. In other words, the maximum claim can either be $1,000, $400, or $200.
Moreover, the Saver's Credit could be claimed for contributions made to the:
401k403(b)457 planSimple IRASEP IRAKeeping in view the above information, Johan is a single taxpayer and his income is below $19,750 and therefore, he could claim contribution for retirement savings at 50%. This means his contribution is $1,000 ($2,000 x 50%).
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The scope of disaster recovery is ______________ than that of generalized Business Continuity; generalized Business Continuity spans the entire organization, but disaster recovery is said to be ______________. Select one: a. Wider / mission-critical b. Narrower / IT-centric c. Wider / technically prejudiced d. Narrower / peripherally vulnerable
Based on business management, the scope of disaster recovery is Narrower than that of generalized Business Continuity; generalized Business Continuity spans the entire organization, but disaster recovery is "IT-centric."
What is the Scope of Disaster Recovery?Scope of Disaster Recovery is a process or related activities that involve the actions performed to recover and protect a company's IT infrastructure when there is a disaster.
The scope of Disaster Recovery is limited to IT-related issues concerning business firms.
Hence, in this case, it is concluded that the correct answer is option B. "Narrower / IT-centric."
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Martin is an intern working for Tennessee Fried Chicken (TFC), an international company with over 1,000 franchised restaurants throughout the United States and in 21 other countries. TFC heavily advertises on television and in various print media that its chicken is superior due to its blend of "42 secret herbs and spices." Many have tried to duplicate the recipe unsuccessfully, and burglars have even been caught trying to steal it. One day Martin is called into the president's office for an assignment, and during their conversation, the president leaves the room, leaving Martin alone. Martin notices that the wall safe is open and looks inside, where he sees an envelope labeled "THE RECIPE." He opens it and finds that it is the list of the 42 secret herbs and spices, along with quantities and order of use. He quickly makes a copy of the recipe and returns the envelope to the safe. That afternoon, he calls Bluto's Fried Chicken, a TFC competitor, and informs Bluto's of the information he possesses, and they arrange a meeting. If Martin sells the recipe to Bluto's, who, if anyone, would be guilty of mis-appropriation?
a. If Martin sells the recipe to Bluto's, Martin is guilty of misappropriation but Bluto's is not guilty of misappropriation.
b. If Martin sells the recipe to Bluto's, Martin is not guilty of misappropriation but Bluto's is guilty of misappropriation.
c. If Martin sells the recipe to Bluto's, both Martin and Bluto's are guilty of misappropriation.
d. Neither Martin nor Bluto's is guilty of misappropriation because leaving the safe open shows that the secret was not guarded and guarding is necessary to qualify for trade secret protections.
The culprits of misappropriation would be both Martin and Bluto's Fried Chicken.
Misappropriation is a crime against wealth or property. This crime occurs when a person or group seizes someone else's property, to make a profit.
According to the foregoing, both are incurring misappropriation because:
Martin: He was not the creator or owner of the recipe, he stole it in a moment of the owner's carelessness and wanted to obtain personal gain in exchange for the product owned by TFC.Bluto's Fried Chicken: He knows that Martin obtained the recipe illegally, yet he still decides to make the transaction to copy the recipe and make more profit in his business.Learn more in: https://brainly.com/question/2498208
Business writing must be clear and specific instead of vague, pretentious, or
to the reader.
A.familiar
B.simple
C.understandable
D.unfamiliar
Compare the job of an order-taker at a fast-food restaurant, marketing manager of the telecommunication sector, police officer, and CEO of a multinational firm, using the job characteristics model. Give your recommendations on how the characteristics of the least motivating job/jobs could be improved?
Answer:
i think
Explanation:
Perhaps the earliest attempt to design jobs came during the era of scientific management. Scientific management is a philosophy based on the ideas of Frederick Taylor as presented in his 1911 book, Principles of Scientific Management. Taylor’s book is among the most influential books of the 20th century; the ideas presented had a major influence over how work was organized in the following years. Taylor was a mechanical engineer in the manufacturing industry. He saw work being done haphazardly, with only workers in charge. He saw the inefficiencies inherent in employees’ production methods and argued that a manager’s job was to carefully plan the work to be performed by employees. He also believed that scientific methods could be used to increase productivity. As an example, Taylor found that instead of allowing workers to use their own shovels, as was the custom at the time, providing specially designed shovels increased productivity. Further, by providing training and specific instructions, he was able to dramatically reduce the number of laborers required to handle each job.
Audra owns a rental house. She makes mortgage payments of $1,060 per month, which include insurance, and pays $2,700 per year in property taxes and maintenance. Utilities are paid by the renter. What should Audra charge for monthly rent to make $4,500 profit each year?
Answer:
A $740 cable bill for them to be able to watch shows and have internet.
Explanation:
most of the annual requirements for supplies and services are funded with procurement funds? true or falce
The statement that most of the annual requirements for supplies and services are funded procurement funds True.
In a project, there will always be annual requirements for supplies and services that is required to achieve the goals as regards the project.
Which means procurement funds, all necessary equipment as well as tools needed for the project would be gotten.
Therefore, to acquire all the annual requirements for supplies and services, procurement funds are needed to achieve this.
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Presented below are selected transactions for Werley Company for 2021. Jan. 1 Received $9,000 scrap value on retirement of machinery that was purchased on January 1, 2011. The machine cost $90,000 on that date, and had a useful life of 10 years with no salvage value. April 30 Sold equipment for $34,000 that was purchased on January 1, 2018. The equipment cost $90,000, and had a useful life of 5 years with no salvage value. Dec. 31 Discarded a business truck that was purchased on April 1, 2017. The truck cost $27,000 and was depreciated on a 5-year useful life with a salvage value of $2,000. Journalize all entries required as a result of the above transactions. Werley Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit choose a transaction date Jan. 1 enter an account title to record depreciation expense enter a debit amount enter a credit amount enter an account title to record depreciation expense enter a debit amount enter a credit amount enter an account title to record depreciation expense enter a debit amount enter a credit amount enter an account title to record depreciation expense enter a debit amount enter a credit amount choose a transaction date April 30 enter an account title to record depreciation expense enter a debit amount enter a credit amount enter an account title to record depreciation expense enter a debit amount enter a credit amount (To record depreciation expense) choose a transaction date April 30 enter an account title to record sale of equipment Cash enter a debit amount 34000 enter a credit amount enter an account title to record sale of equipment Accumulated Depreciation-Equipment enter a debit amount
Based on the information given the appropriate journal entry to record the transactions are:
Werley Company Journal entries
1. Jan 2020
Debit Cash $ 9,000
Credit Accumulated depreciation - machinery $90,000
($90,000/10×10)
Credit Machinery $ 90,000
Credit Gain on retirement of assets $9,000
($9,000+$90,000-$90,000)
2. Apr-30
Debit Depreciation expense $6,000
($90,000/5×4/12)
Credit accumulated depreciation-Equipment $6,000
Debit Cash $34,000
Debit Accumulated depreciation $60,000
($90,000/5)×3 1/3) [(2018-2021)+(Jan 2021 to April 2021)]
Credit Equipment $90,000
Credit Gain on disposal of plant assets $4,000
[$34,000-($90,000-$60,000)]
3. Dec-30
Debit Depreciation expense $5,000
[($27,000-$2,000)/5]
Credit accumulated depreciation-Equipment $5,000
Debit Accumulated depreciation- Equipment $23,750
($5,000×4 3/4) [(2017-2021)+(April 2021 to Dec 2021)]
Debit Loss on disposal $3,250
($27,000-$23,750)
Credit Equipment $27,000
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Assume that a local restaurant sells two items, salads and steaks. The restaurant's only two customers on a particular day are Mr. Carnivore and Ms. Leafy Greens. Mr. Carnivore is willing to pay $20 for a steak and $7 for a salad. Ms. Leafy Greens is willing to pay only $8 for a steak, but is willing to pay $12 for a salad. Assume that the restaurant can provide each of these items at zero marginal cost. Refer to Scenario 17-1 . If the restaurant is unable to use tying, what is the profit-maximizing price to charge for a steak
Based on the information given, it should be noted that the profit-maximizing price will be $20.
From the information given, the willingness to pay Mr. Carnivore will be:
= $20 + $7 = $27
The willingness to pay Ms. Leafy greens will be:
= $8 + $12 = $20
In this case, the profit-maximizing price should be the lower value. Therefore, the price will be $20.
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20 points to anyone willing to help
Abdul works as a regulator at the Bureau of Consumer Protection. His agency makes sure that consumers are treated fairly. What task might be part of Abdul's job at his agency?
Question 6 options:
drawing up ideas for the new city park
drafting a proposal for the state government budget
recording information about a fraudulent business
meeting with heads of state to discuss trade
Answer:
it's the second to last one "recording information about a fraudulent business "
Answer:
the answer is c
Explanation:
Data warehouses may contain many _____, subsets of a data warehouse that each deal with a single area of data.
Considering the nature of data analysis, Data warehouses may contain many data marts, subsets of a data warehouse that each deal with a single area of data.
What is Data Mart?A data mart is generally known to be part of data warehouses. It is used for quick analysis of business segments.
A data mart concentrates on a specific chain of business or department.
One of the advantages of a data mart is to ensure that little or no time is wasted while looking through a whole data warehouse.
Hence, in this case, it is concluded that the correct answer is Data Mart.
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Debentures are paid back only when the company goes into liquidation
Answer:
true
Explanation:
because hes force for paiying beacause
because the company goes to liquidation
23-The journal entry to record a payment made on an installment note would include:
a. A debit to Installment Note Payable
b. A debit to Interest Expense
c. A credit to Cash
d. All the above
example of globalization as internalization and liberalization
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➪Example of Liberalization : - European Union has liberalized gas and electricity market.
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➪Example of globalization : - trading of commodities such as coffee or avocados.
❤Hope it's helpful↑(◍•ᴗ•◍)❤࿐
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