Answer:
A.
1. Dr Work-in process - Refining Department $371,000
Cr Materials $371,000
2. Dr Work-in process - Refining Department $142,000
Cr Wages Payable $142,000
3. Dr Work-in process - Refining Department $98,400
Cr Factories Overhead - Refining Department $98,400
B. Dr Work-in process - Sifting Department $612,200
Cr Work-in process - Refining Department $612,200
Explanation:
A. Preparation of the journalentry to record the flow of costs into the Refining Department during the period for factory overhead
1. Dr Work-in process - Refining Department $371,000
Cr Materials $371,000
(Being To record usage of direct material)
2. Dr Work-in process - Refining Department $142,000
Cr Wages Payable $142,000
(Being To record usage of direct labor)
3. Dr Work-in process - Refining Department $98,400
Cr Factories Overhead - Refining Department $98,400
(Being To record applied manufacturing overhead)
Preparation of the journal the entry to record the transfer of production costs to the second department
Dr Work-in process - Sifting Department $612,200
[$29,200 + ($371,000 + $142,000 + $98,400) - $28,400]
Cr Work-in process - Refining Department $612,200
(Being To transfer costs to the second department)
What is an observation quite different from the rest of the data called?
Answer:
2 words china
Explanation:
The usual stated political goal of rent control isGroup of answer choicesto conduct social engineering via economic rules.prices that allow rationing to the highest bidder.to assist the low income at a cost to society, in convenient, affordable housing.to pander to the low income voters by assuring them enough living space.to pander to real estate landlords by assuring them a low occupancy rate.
Answer:
to assist the low income at a cost to society, in convenient, affordable housing.
Explanation:
Rent control can be defined as a process which typically involves keeping the cost of rent within a certain amount that is affordable for the citizens. Therefore, it ensures the amount of money spent as rent doesn't go above the chosen amount or grow at an increased rate.
Price control can be defined as standard restrictions or regulatory conditions that are typically set and enforced by the government of a country.
This ultimately implies that, price controls are used to impose the minimum and maximum prices set by the government, which are to be charged for various goods and services in the market. This minimum price that can be charged such as minimum wage is known as price floor while the maximum price that can be charged such as rent control is known as price ceiling.
Basically, rent control is considered to be a price ceiling.
Hence, the usual stated political goal of rent control is to assist the low income at a cost to society, in convenient, affordable housing.
Among adults twenty-one years of age and older, roughly half are college graduates. Despite having a much higher rate of colleges and universities per capita than European countries; the U.S. has a lower rate of college graduation per capita. Every U.S. state has at least twenty colleges or universities within its borders. Among adults twenty-one years of age and older, roughly one in four is a college graduate. Although the U.S. has a lower number of colleges and universities per capita than Europe, it has a much higher rate of college graduation per capita.
a. True
b. False
Answer:
True
Explanation:
Europe has higher rate of colleges and universities but number of graduates are lower. U.S. state has lower number of colleges and universities in the state but the number of graduates is higher than European countries.
Jasper Furnishings has $300 million in sales. The company expects that its sales will increase 12% this year. Jasper's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. On the basis of recent history, the estimated relationship between inventories and sales (in millions of dollars) is as follows:
Inventories=$25+0.125(Sales).
Given the estimated sales forecast and the estimated relationship between inventories and sales, what are your forecasts of the company’s year-end inventory level and its inventory turnover ratio?
Answer:
Sales = $300,000,000
Sales Increase = 12%
Inventories = $25 + 0.125 (Sales)
Forecast sales = $300,000,000 * 1.12 = $336,000,000
As per equation inventory level = $25 + 0.125 (Sales)
= $25 + 0.125 ($336,000,000/1,000,000)
= $25 + $42
= $67 million
Inventory turnover ratio = Sales / Inventory
Inventory turnover ratio = $336,000,000/$67,000,000
Inventory turnover ratio = 5.014925373134328
Inventory turnover ratio = 5.015
assume that by continuing your education, you increased your yearly earning potential from 21,484 to 39746.
Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019:
April May June
Credit sales $403,000 $352,000 $440,000
Credit purchases 180,000 168,000 201,000
Cash disbursements
Wages, taxes
and expenses 79,800 75,300 104,000
Interest 9,500 9,500 9,500
Equipment purchases 33,500 6,000 148,000
The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $330,000.
Using this information, complete the following cash budget.
April May June
Beginning cash balance $110,000
Cash receipts
Cash collections from credit sales
Total cash available
Cash disbursements
Purchases $172,000
Wages, taxes, and expenses
Interest
Equipment purchases
Total cash disbursements
Ending cash balance
Answer:
Ending cash balances are as follows:
April = $150,600
May = $247,350
June = $178,650
Explanation:
Note: See the attached excel file for the cash budget.
In the attached excel file, Cash collections from credit sales are calculated as follows:
April = 65 percent of March sales + 30 percent of April sales = (65% * $330,000) + (30% * $403,000) = $335,400
May = 65 percent of April sales + 30 percent of May sales = (65% * $403,000) + (30% * $352,000) = $367,550
June = 65 percent of May sales + 30 percent of June sales = (65% * $352,000) + (30% * $440,000) = $360,800
What will happen to the equilibrium price and quantity of airline fares as a result of the following two simultaneous changes (assume no other changes): I. the recent recession has encouraged people to save more, so fewer people decide to go on vacation. II. higher oil prices and weather-related difficulties have increased the cost of providing airline services.
Answer:
Equilibrium quantity would increase. there would be an indeterminate effect on equilibrium price
Explanation:
If fewer people go on vacation fewer people would board planes. As a result, the demand curve for planes would shift inwards. This would lead to a decrease in equilibrium price and quantity.
As a result of the higher cost of providing services, fewer planes would be in operation. This would lead to an inward shift of the supply curve. Equilibrium price would increase and equilibrium quantity would decrease.
Taking this two effects together, equilibrium quantity would increase. there would be an indeterminate effect on equilibrium price.
The operating income of Carbon Footwear is $10 million. Its net marketing contribution is derived from sales of $ 80 million and the marketing and sales experiences amount to $15 million. The general and administrative expenses and other operating expenses amount to $20 million What is the total amount of Carbon Footwear's net marketing contribution
Answer:
$45,000,000
Explanation:
A company's net marketing contribution is calculated by subtracting the net sales by the cost of the goods sold, and then subtracting the expenses. Since we are given all of this information in the question we can simply go ahead and solve for the net marketing contribution
net marketing contribution = 80,000,000 - 15,000,000 - 20,000,000
net marketing contribution = 45,000,000
Finally, we can see that the net marketing contribution amounts to a total of $45 million
state three essential characteristics of a good leaders
Answer:
The Characteristics & Qualities of a Good Leader
Integrity.
Ability to delegate.
Communication.
Self-awareness.
Gratitude.
Learning agility.
Influence.
Empathy.
Answer:
ghhh función de agosto The Rock Creek and have been for a long time now for the rest in the morning and I will be there and I and my son is in a la medicina y cirugía de las partes involucradas te mando la celula BBDD de las tareas que BBDD PAC gxg de las partes involucradas la
External benefits create a market failure because: A. The activities that produce external benefits may not create sufficient private benefits to producers and consumers to warrant their production. B. The activities that produce external benefits only improve the lives of poor people. C. The activities that produce external benefits are too costly to produce. D. External benefits do not improve the lives of individuals. E. The activities that create external benefits may create high external costs that harm communities.
Answer:
C
Explanation:
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
For example, the cost of producing a vaccine to cure a disease might be too high to be borne alone by the researcher. It is for this reason, government usually fund research programs done to develop vaccine
Majestic Bank offers loans at various interest rates, depending on the nature of the loan.
Kevin wants to borrow $230,000 for a new home. He promises to pay back the loan in 10 years. Maria also wants to borrow $230,000 for a new home. She promises to pay back the loan in 15 years. Assume Kevin and Maria are equally creditworthy and that the two home mortgages are the same in all other aspects.
If all else is constant, the bank would most likely charge a higher interest rate to (Kevin/Maria) .
Answer:
Maria
Explanation:
Assuming all other factors are held constant, the bank would likely charge a higher interest rate to Maria because she intends to pay back the loan after a longer period of time than Kevin.
We need to remember the bank makes a profit from loans issued out to ist debtors, so a longer-term loan would result in higher interest rates for the party involved.
Broderick Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.
Actual Hourly Vacation Days Used 00 Sick Days Used
Wage Rate 00 by Each Employee by Each Employee
2019 2020 2019 2020 2019 2020
$10 $11 0 9 4 5
Broderick Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.
Instructions
a. Prepare journal entries to record transactions related to compensated absences during 2019 and 2020.
b. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020.
Answer:
A.
2019
Dr Salaries and Wages Expenses $7,200
Cr Salaries and Wages Payable $7,200
2019
Dr Salaries and Wages Expenses $4,320
Cr Salaries and Wages Payable $4,320
2019
Dr Salaries and Wages Payable $2,880
Cr Cash $2,880
1b.
2020
Dr Salaries and Wages Expenses $7,920
Cr Salaries and Wages Payable $7,920
2020
Dr Salaries and Wages Expenses$4,752
Cr Salaries and Wages Payable $4,752
2020
Dr Salaries and Wages Expenses $ 648
Dr Salaries and Wages Payable $6,480
Cr Cash $7,128
2020
Dr Salaries and Wages Expenses $ 144
Dr Salaries and Wages Payable $3,816
Cr Cash $3,960
B. Vacation Wages Payable at December 31, 2019= $7,200
Sick Pay Wages Payable at December 31, 2019= $1,440
Vacation Wages Payable at December 31, 2020 = $8,640
Sick Pay Wages Payable at December 31, 2020
= $2,376
Explanation:
A. Preparation of the journal entries to record transactions related to compensated absences during 2019 and 2020.
1a) Prepare journal entries to record transactions related to compensated absences during 2019
2019
Dr Salaries and Wages Expenses $7,200
Cr Salaries and Wages Payable $7,200
(9 employees * $10 per hour * 8 hours per day * 10 days)
(Being to Record Accrue expenses and liabilities for Vacations)
2019
Dr Salaries and Wages Expenses $4,320
Cr Salaries and Wages Payable $4,320
( 9 employees * $10 per hour * 8 hours per day * 6 days )
(Being to Record Accrue expenses and liabilities for Sick Pay)
2019
Dr Salaries and Wages Payable $2,880
Cr Cash $2,880
( 9 employees * $10 per hour * 8 hours per day * 4 days)
(Being to Record Sick leave paid)
1b) Preparation of the journal entries to record transactions related to compensated absences during 2020
2020
Dr Salaries and Wages Expenses $7,920
Cr Salaries and Wages Payable $7,920
( 9 employees * $11 per hour * 8 hours per day * 10 days )
(Being to Record Accrue the expense and liability for Vacations)
2020
Dr Salaries and Wages Expenses$4,752
Cr Salaries and Wages Payable $4,752
(9 employees * $11 per hour * 8 hours per day * 6 days)
(Being to Record Accrue the expense and liability for Sick Pay)
2020
Dr Salaries and Wages Expenses $ 648
($7,128- $6,480)
Dr Salaries and Wages Payable $6,480
( 9 employees * $10 per hour * 8 hours per day * 9 days )
Cr Cash $7,128
(9 employees * $11 per hour * 8 hours per day * 9 days)
(Being to Record Vacation Time paid)
2020
Dr Salaries and Wages Expenses $ 144
($3,960-$3,816)
Dr Salaries and Wages Payable $3,816
[(9 employees * $10 per hour * 8 hours per day * 2 days )+(9 employees * $11 per hour * 8 hours per day * 3 days)]
Cr Cash $3,960
( 9 employees * $11 per hour * 8 hours per day * 5 days)
(Being to Record Sick Leave Paid)
B. Computation for the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020.
1) Calculation for the Vacation Wages Payable at December 31, 2019
Vacation Wages Payable at December 31, 2019=$0 + $7,200 - $0
Vacation Wages Payable at December 31, 2019= $7,200
2). Calculation for Sick Pay Wages Payable at December 31, 2019
Sick Pay Wages Payable at December 31, 2019=$0 + $4,320 - $2,880
Sick Pay Wages Payable at December 31, 2019= $1,440
3) Calculation for Vacation Wages Payable at December 31, 2020
Vacation Wages Payable at December 31, 2020=$7,200 + $7,920 - $6,480
Vacation Wages Payable at December 31, 2020 = $8,640
4) Calculation for Sick Pay Wages Payable at December 31, 2020
Sick Pay Wages Payable at December 31, 2020=$1,440 + $4,752 - $3,816
Sick Pay Wages Payable at December 31, 2020
= $2,376
Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false.
If false, explain why the statement is false.
1. GAAP is the term used to indicate the whole body of FASB authoritative literature.
2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements.
3. The primary governmental body that has influence over the FASB is the SEC.
4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard.
Answer and Explanation:
1. The first statement is true
2. The second statement is false as the company that claims the compliances would comply with the standard, interpretations and the disclosure requirements
3. The third statement is true
4. The fourth statement is false as for creating a standard there si two basic premises i.e.
a. It should be responsive to the needs and the viewpoints with respected to the overall economic community
b. It should be operated in complete public view
What are the four bases of market segmentation?
Answer:
Demographic segmentation.
Psychographic segmentation.
Behavioral segmentation.
Geographic segmentation
Explanation:
No way of explaining this at the moment! Sorry!
Paige independently owns and operates HiZ Inc., a company with 22 employees. She manages aggressively and expects rapid sIn the context of the entrepreneurial strategy matrix, a new pasanger vehicel is most likely to have the highest risks and returns.ales and profit growth. Paige's company is considered a(n) ________ venture.
Answer:
entrepreneurial
Explanation:
An entrepreneurial venture is a small business that has the potential to grow very rapidly and be very profitable. They are managed by entrepreneurs that are trying to introduce a new project or service. They have the potential to yield very high profits, but they are also extremely risky.
The SEC has lifted its requirement that foreign companies, which have used IFRS as the basis for preparing their financial statements, must reconcile their financial statements using U.S. GAAP in order to be eligible to list their shares on U.S. stock exchanges. When did this happen
Answer: November 2007
Explanation:
The SEC came to a conclusion to remove the requirement that restricted foreign private issues from using IFRS from reconciling their financial statement to the U.S GAAP. The reason for this move was because the SEC recognizes IFRS having high quality set of accounting rules which they believe is capable of ensuring adequate disclosure for the protection of investors. This was their reason for the allowance
Three friends are trying to decide what to do on Saturday night. The options are to go to a party, go see a play, or hang out at their apartment. Abdul prefers to see a play over going to the party, which he prefers to hanging out. Gina prefers to hang out over seeing a play, which she prefers to going to the party. Shaquille would most like to go to the party, his second choice is to hang out, and the play is his least preferred option. In the spirit of democracy, they decide to vote on their options. In a three-way vote, they each vote for a different choice, leading to a tie and failing to solve their problem. They thus decide to consider the options in pairs.
(1 point) Shaquille suggests that they first vote on hanging out versus going to the play and then vote on the winner of that versus going to the party. Which option will be chosen?
Choose one:
A. Go to the play.
B. Go to the party.
C. Hang out.
Answer:
go to party
Explanation:
Scale of preference can be described as a list of wants of individuals. They are usually arranged in order of importance or preference.
If the individuals vote on hanging out versus going to the play :
Abdul would vote to see a play because it is his most preferred activity
Gina would vote to go hangout because it is her most preferred activity
Shaquille would vote to hangout. this is because going to the play is his second most preferred activity
so hangout would win with 2 votes to 1 in this round.
In the next round of voting, the two contenders would be hangout and going to the party.
Abdul would vote to go the party. Going to the party is his second most preferred activity and hangout is his least preferred activity
Gina would vote to go hangout because it is her most preferred activity
Shaquille would vote to go to the party. This is his most preferred activity.
Going to the party would win the second round of voting
What do you think is the most important skill a judge can possess
Answer:
The decision making skill because it's hard for a judge to make the right decision.
When Unraveling the Unit Circle the sine function creates a relationship between the _________and the ________ starting at 0 radians going counter-clockwise. The cosine function creates a relationship between the _________ and the ________ starting at 0 radians going counter-clockwise . The tangent function creates a relationship of the _______ starting at 0 radians going counter-clockwise.
Answer:
Vertical distance
y-axis
Horizontal distance
x-axis
where n are integers
Explanation:
The relationship between x-axis and y-axis is determined by cosine function. The sine and cosine functions have a domain of all real numbers. These distances are determined by the vertical distance ratio.
The Pioneer Company has provided the following account balances: Cash $39,400; Short-term investments $5,400; Accounts receivable $7,400; Supplies $55,000; Long-term notes receivable $3,400; Equipment $103,000; Factory Building $194,000; Intangible assets $7,400; Accounts payable $28,600; Accrued liabilities payable $3,300; Short-term notes payable $16,800; Long-term notes payable $99,000; Common stock $194,000; Retained earnings $73,300. What is Pioneer's current ratio
Answer:
2.20
Explanation:
Calculation for What is Pioneer's current ratio
First step is to calculate current assets
Current assets = $39,400 + $5,400 + $7,400 + $55,000
Current assets = $107,200
Second step is to calculate Current liabilities
Current liabilities =
=$28,600 + $3,300 + $16,800.
Current liabilities =$48,700
Now let calculate Current ratio
Using this formula
Current ratio=Current assets/Current Liabilities
Let plug in the formula
Current ratio = $107,200 ÷ $48,700.
Current ratio=2.20
Therefore Pioneer's current ratio will be 2.20
Corporate strategy for a diversified or multi-business enterprise chiefly concerns the development of a strategic vision a set of objectives and a strategy for each business the company is in and also specifying the functional area and operating strategies that each business must employ concerns strategy initiatives to establish business positions in different industries, whether to hold or divest existing businesses strategic actions to boost the combined performance of the set of businesses the company has diversified into, and how to capture cross- business synergies and turn them into a competitive advantage concrns developing the strategic initiatives and approaches that are to be used in managing key operating units (plants, distribution centers, geographic units) and specific operating activities with strategic significance for the company as a whole is orchestrated by the company's CEO and other top executives and consists of a collection of business strategies--one for each business the company has diversified into. is orchestrated by the general managers of each of the company's different lines of business, Often with advice and input from the heads of functional area activities within each business and other key people
Answer:
Corporate Strategy
Corporate strategy for a diversified or multi-business enterprise:
"concerns strategy initiatives to establish business positions in different industries, whether to hold or divest from existing businesses, strategic actions to boost the combined performance of the set of businesses the company has diversified into, and how to capture cross-business synergies, and then turn them into a competitive advantage."
Explanation:
Corporate strategy is concerned with market growth, stability, and organizational renewal. The purpose of corporate strategy is to achieve greater profitability, higher market share, and sustainable growth in revenue through product and market diversification. A corporate organization, in trying to grow, engages in business restructuring, establishing strategic partnerships, and achieving organizational excellence. These activities emanate from corporate strategic planning.
Corporate strategy for a diversified or multi-business enterprise involves developing a strategic vision, objectives, and strategies for each business, while also considering functional area and operating strategies.
Corporate strategy involves the overall direction and scope of a company, determining how it creates value across multiple business units.
It includes decisions on business diversification, competitive positioning, resource allocation, and strategic initiatives to drive performance and growth.
Corporate strategy aims to align the organization's various businesses and functions towards achieving the company's objectives, maximizing synergies, and leveraging core competencies.
It is the responsibility of top executives to formulate and execute corporate strategy, ensuring long-term success and sustained competitive advantage.
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The following trial balance of Sheffield Co. does not balance
SHEFFIELD CO. TRIAL BALANCE JUNE 30, 2017
Debit Credit
Cash $3,227
Accounts Receivable $3,588
Supplies 1,157
Equipment 4,157
Accounts Payable 3,023
Unearned Service Revenue 1,557
Common Stock 6,357
Retained Earnings 3,357
Service Revenue 2,737
Salaries and Wages Expense 3,757
Office Expense 1,297
Totals $15,513 $18,701
Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.
1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
2. The purchase of a computer printer on account for $857 was recorded as a debit to Supplies for $857 and a credit to Accounts Payable for $857.
3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.
4. A payment of $422 for telephone charges was recorded as a debit to Office Expense for $422 and a debit to Cash for $422
5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $682 was performed prior to June 30 (related to Unearned Service Revenue)
6. A debit posting to Salaries and Wages Expense of $1,027 was omitted.
7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260
8. A dividend of $932 was debited to Salaries and Wages Expense for $932 and credited to Cash for $932.
Prepare a correct trial balance. Answer the missing blank part.
SHEFFIELD CO. TRIAL BALANCE JUNE 30, 2017
Debit Credit
Cash $2563 $
Accounts Receivable 3408
Supplies 300
Equipment _____
Accounts Payable 2557
Unearned Service Revenue 875
Common Stock 6357
Retained Earnings 3357
Dividends 932
Service Revenue 4220
Office Expense _____
Salaries and Wages Expense _____
Totals 17366 17366
Answer:
Explanation:
1. The cash balance is as follows:
Cash:
Balance stated in $3227
Cash Collected from -
customer misposted $180
Wrong debit for telephone -
charges $422
Telephone charges $422
Revised Balance $2563
2.
Balance on account receivable ($3408) is gotten by removing $180 (i.e $750 - $570) from $3588.
3.
Supplies = $1,157 - $857 = #300
4.
Equipment: $857 + $4157(computer printer worth) = $5014
5. Accounts Payable:
Balance stated in Trial Balance $3023
Wrong credit to Accounts Payable $260
Payment on account $206
Balance $2557
6.
Unearned Service Revenue = $1557 - $682 (Revenue portion ) = $875
7. No changes occurred in common stock and retained earnings.
8.
Service revenue = unearned revenue ($2737) + $682(revenue portion) + $801(under posting)
Service revenue = $4220
9.
Salaries and wages = $3757 + ($1027) ommission - $932(dividend)
Salaries and wages = $3852
10.
No changes occurred in Office expenses.
11.
Dividened expense = $932
Sheffield Co Trial Balance can be computed as follows:
Accounts Debit Credit
Cash $2563
Accounts Receivable $3408
Supplies $300
Equipment $5014
Accounts Payable $2557
Unearned Service Revenue $875
Common stock $6357
Retained Earnings $3,357
Service Revenue $4220
Salaries & Wages expense $3852
Office Expenses $1297
Dividend $932
$17,366 $17,366
The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance
Ranger Co. Unadjusted
Trial Balance
August 31, 2014
Debit balance Credit Balances
Cash 77600
Accounts Receivable. 377500
Prepaid Insurance 12000
Equipment.. 19000
Accounts Payable 29100
Unearned Rent..... 10800
Carmen Meeks, Capital 110000
Carmen Meeks, Drawing. 13,000
Service Revenue 385000
Wages 213000
Expense
Advertising Expense.. 16350
Miscellaneous Expense 18,400
273,700 668,300
When the ledger and other records are reviewed, you discover the following:
(1) the debits and credits in the cash account total $77,600 and $62,100, respectively;
(2) a billing of $9,000 to a customer on account was not posted to the accounts receivable account
(3) a payment of $4,500 made to a creditor on account was not posted to the accounts payable accOunt;
(4) the balance of the unearned rent account is $5,400;
(5) the correct balance of the equipment account is $190,000; and
(6) each account has a normal balance.
Prepare a corrected unadjusted trial balance.
Answer and Explanation:
The preparation of the corrected un-adjusted trial balance is presented below:
Particulars Dr Amount Cr Amount
Cash $15,500
Accounts Receivable $46,750
Prepaid Insurance $12,000
Equipment $190,000
Accounts payable $24,600
Unearned rent $5,400
Common stock $40,000
Retained Earnings $70,000
Dividends $13,000
Service Revenue $385,000
Wages expense $213,000
Advertising expense $16,350
Miscellaneous expense $18,400
Total $525,000 $525000
The corrected un-adjusted trial balance is presented below:
"Ranger Co. Unadjusted Trial Balance on August 31, 2014"
Particulars Dr Amount Cr Amount
Cash $15,500
Accounts Receivable $46,750
Prepaid Insurance $12,000
Equipment $190,000
Accounts payable $24,600
Unearned rent $5,400
Common stock $40,000
Retained Earnings $70,000
Dividends $13,000
Service Revenue $385,000
Wages expense $213,000
Advertising expense $16,350
Miscellaneous expense $18,400
Total $525,000 $525000
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OHaganBooks has two principal competitors: JungleBooks and FarmerBooks. Combined website traffic at the three sites is estimated at 8,000 hits per day. Only 10% of the hits at OHaganBooks result in orders, whereas JungleBooks and FarmerBooks report that 20% of the hits at their sites result in book orders. Together, the three sites process 1,300 book orders per day. FarmerBooks appears to be the most successful of the three and gets as many book orders as the other two combined. What is the traffic (in hits per day) at each of the sites?
Naya has done a lot of shopping recently. Which receipt should she probably keep the longest? *
CVS receipt for a juice and a pack of ponytail holders
Mall store for 5 shirts and 2 pants, all of which she's tried on and fit
Restaurant receipt for sandwich, salad, and lemonade
Target receipt for bluetooth headphones for her and a popular toy for her niece's birthday
Target receipt...
Explanation:
she tried on the clothes at the mall so she knows they fit and wont have to return them....she only got juice and stuff for her hair at CVS.... and a reciept for somthing she alredy ate is not going to be important...
You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X and Y. The weights of X and Y in P are 0.60 and 0.40, respectively. X has an expected rate of return of 0.14 and variance of 0.01, and Y has an expected rate of return of 0.10 and a variance of 0.0081. If you want to form a portfolio with an expected rate of return of 0.10, what percentages of your money must you invest in the T-bill, X, and Y, respectively if you keep X and Y in the same proportions to each other as in portfolio P
Answer:
% in T bills = 18.92%, % in P = 81.08%
Explanation:
Portfolio return = Weighted average return
Return of portfolio P = 0.14*0.6 + 0.10*0.4
Return of portfolio P = 0.124
Let % money in T bills be x
0.11 = 0.05*x + 0.124*(1-x)
0.11 = 0.05x + 0.124 - 0.124x
0.014 = 0.074x
x = 18.92%
Hence, % in T bills = 18.92%, % in P = 81.08%
M/J Business Keyboarding Guided Notes Module 1
Module 1: Keyboarding Basics
1.1 The Basics
Vocabulary Terms
touch typing
muscle memory
ergonomics
repetitive strain injuries (RSI)
carpal tunnel syndrome
Guided Questions
How can you arrange your workstation to
apply proper ergonomics?
When typing, what are the characteristics of
correct ergonomics and proper typing
posture?
How do correct ergonomic habits contribute
to proper keyboarding and prevent injury
when typing?
What are some strategies you should follow
to prevent RSI?
When working on a laptop or on a tablet,
how can you apply proper ergonomics?
What do you need to know about the
QWERTY keyboard to learn how to type?
Where are these keys located on the
keyboard and what is the purpose of each?
Home Row / Home Keys, Spacebar, Shift,
Enter, Tab, Backspace, Caps Lock
How should you position your fingers on the
home row?
Why is using the home row important to
typing mastery?
How do the buttons and special keys help
you navigate the Typing Tool?
M/J Business Keyboarding Guided Notes Module 1
1.02 Home Row F and J
Vocabulary Terms
workstation
ergonomics
home row keys
typing technique
Guided Questions
Where should you position your fingers to
before you start typing?
How can you find the F and J keys without
looking at the keyboard?
Which finger do you use to type the F key?
The J key? The space bar?
1.03 Input, Output, Storage, and Memory
Vocabulary Terms
Central Processing Unit (CPU)
peripherals
input device
output device
USB (Universal Serial Bus) connector
memory
storage memory
random access memory (RAM)
read-only memory (ROM)
storage devices
Guided Questions
What is the purpose of each of these
computer peripherals? What are examples
of each?
o an input device
o an output device
Which peripherals can be both and input
and output devices?
How do input and output devices connect to
a computer?
What is the purpose of different types of
computer memory? What are examples of
each?
What is the purpose different storage
devices? What are examples of each?
What is “the cloud?”
1.04 – 1.06: Home Row D and K / Home Row S and L / Home Row A and ;
M/J Business Keyboarding Guided Notes Module 1
Vocabulary Terms
home row
workstation
ergonomics
typing technique
Guided Questions
Where should you position your fingers to
before you start typing?
Which finger do you use to type each of
these keys?
D K S L
A ; Space Bar
1.07 Computer Maintenance
Vocabulary Terms
Guided Questions
Why is it important to properly care for your
computer and electronic devices?
What are some things you should DO and
should NOT DO to properly care for your
computer (hardware and software)?
Why are software updates important?
Why is it important to clean your computer
and workspace regularly?
How should you clean each of these
computer parts? Why?
o keyboard
o mouse or trackpad
o screen or monitor
1.08 Home Row G, H, Enter
Vocabulary Terms
reach keys
home row
workstation
ergonomics
typing technique
Guided Questions
Which keys are the reach keys?
Where should you position your fingers to
before you start typing?
Which finger do you use to type these keys?
G H ENTER
Space Bar
M/J Business Keyboarding Guided Notes Module 1
1.09 Home Row Review
Vocabulary Terms
Guided Questions
What are the different parts/components of
a computer system and why are they
important?
Why are storage devices (USB flash drives,
external hard drives, and cloud storage)
helpful?
Why is it helpful to know the parts of a
computer system and how to care for it?
What are some proper computer
ergonomics practices to type pain free and
avoid injury?
What do you remember about which fingers
to use when typing the home row keys?
Left Hand
Fingers Keys Keys Right Hand
Fingers
pinky finger pinky finger
ring finger ring finger
middle finger middle finger
index finger index finger
thumb thumb
Answer: thanks
Explanation:
Match the externality to the appropriate description. 1. This might arise if a firm producing pharmaceuticals dumps its waste in a river or pollutes the air. 2. If a promising compound is discovered, this will lead to the publication of scientific papers on the compound; therefore, the research undertaken on the compound will lead to the identification of other useful avenues for research. 3. In addition to their effects on individual health, cigarette smoking and alcohol consumption may also have negative effects on the rest of society in terms of passive smoking and antisocial behavior, which are not compensated for in the private market. 4. Vaccines have a direct health benefit on others by reducing their chances of ill health, and they are not being compensated in the private market; therefore, these activities should be subsidized. A. External cost of production B. External benefits of production C. External costs of consumption D. External benefits of consumption
Answer:
Externalities are effects on third parties that arise from the actions of parties that the third parties are not involved in. They can be positive (benefits) or negatives (cost).
1. This might arise if a firm producing pharmaceuticals dumps its waste in a river or pollutes the air.
A. External cost of production.
This is an external cost of production because the people who will use that water as well as the environment will suffer from the pollution dumped into the river and the air.
2. If a promising compound is discovered, this will lead to the publication of scientific papers on the compound; therefore, the research undertaken on the compound will lead to the identification of other useful avenues for research.
B. External benefits of production.
As a result of the discovery and production of this compound, other useful discoveries can be made as well so this is a benefit of production.
3. In addition to their effects on individual health, cigarette smoking and alcohol consumption may also have negative effects on the rest of society in terms of passive smoking and antisocial behavior, which are not compensated for in the private market.
C. External costs of consumption.
When cigarettes are consumed, they impart others through second hand and passive smoking primarily. This is therefore a cost of consumption.
4. Vaccines have a direct health benefit on others by reducing their chances of ill health, and they are not being compensated in the private market; therefore, these activities should be subsidized.
D. External benefits of consumption.
Vaccines reduce the chances of others getting sick so they are a positive externality which makes them a benefit.
If Chelsea decides to wait two years
before making the down payment,
instead of one, how much money
will she have after two years?
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 260,000 Fixed manufacturing overhead cost $ 5,720,000 Variable manufacturing overhead cost per machine-hour $ 2.00 Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job P90 was started, completed, and sold to the customer for $4,400. The following information was available with respect to this job: Direct materials $ 2,024 Direct labor cost $ 1,452 Machine-hours used 91 Compute the total manufacturing cost assigned to Job P90.
Answer:
Results are below.
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (5,720,000 / 260,000) + 2
Predetermined manufacturing overhead rate= $24 per machine hour
Now, we can determine the total cost of Job P90:
Total cost= 2,024 + 1,452 + (91*24)
Total cost= $5,660