The journal entries at December 31, 2017, should be:The Royalty Hammer Company should make the following journal entries at December 31, 2017, to reflect the appropriate revisions and change1.
To document the payable salary and wages accrCost of salaries and wages: $6,100 Payable Salary and Wages: $6,102. To fix the inventory mistake The unpaid salaries and earnings for the previous two years are accumulated in the first entry. By modifying the Cost of Goods Sold and Inventory, the second set of entries corrects the inventory inaccuracies.The journal entries at December 31, 2017, should be:The Royalty Hammer Company should make the following journal entries at December 31, 2017, to reflect the appropriate revisions and change1.
Learn more about entries here:
https://brainly.com/question/33045014
#SPJ11
A broker lists a property. A 6% commission is agreed to, and the listing is placed in the MLS. The sale commission is to be split as follows: 45% to the listing broker and 55% to the selling broker. A sales associate who works for a cooperating broker sells the property for $245,000. The sale associate's agreement with her employer calls for a 60% share of all commissions she brings to the company. How much is due to the sales associate
To calculate the amount due to the sales associate, we need to determine the total commission earned and then calculate the sales associate's share.Therefore, the amount due to the sales associate is $8,820.
To calculate the amount due to the sales associate, we need to determine the total commission earned and then calculate the sales associate's share.
The total commission earned from the sale would be 6% of the sale price, which is $245,000 * 0.06 = $14,700.
Now, we need to calculate the share of the sales associate. According to her agreement, she receives 60% of all commissions she brings to the company.
The sales associate's share would be $14,700 * 0.60 = $8,820.
Therefore, the amount due to the sales associate is $8,820.
To know more about amount
https://brainly.com/question/32453941
#SPJ4
assume that the risk-free rate is 4.9 percent. if a stock has a beta of 1.0 and a required rate of return of 11.6 percent, and the market is in equilibrium, what is the return on the market portfolio? show your answer to the nearest .1% using whole numbers (e.g., enter 14.1% as 14.1 rather than .141).
Assuming a risk-free rate of 4.9%, a stock with a beta of 1.0, and a required rate of return of 11.6%, we can calculate the return on the market portfolio. In equilibrium, the return on the market portfolio would be 10.7%.
The required rate of return on a stock is determined by its beta, which measures the stock's sensitivity to market movements. In this case, the stock has a beta of 1.0, indicating that it moves in line with the overall market. The required rate of return on the stock is 11.6%.
The risk-free rate is the rate of return on an investment with no risk, typically represented by government bonds. Here, we assume a risk-free rate of 4.9%.In equilibrium, the return on the market portfolio is equal to the risk-free rate plus the product of the stock's beta and the difference between the required rate of return and the risk-free rate. Using the given values, we can calculate the return on the market portfolio.
Return on Market Portfolio = Risk-Free Rate + (Beta * (Required Rate of Return - Risk-Free Rate))
Return on Market Portfolio = 4.9% + (1.0 * (11.6% - 4.9%))
Return on Market Portfolio = 4.9% + (1.0 * 6.7%)
Return on Market Portfolio = 4.9% + 6.7%
Return on Market Portfolio = 11.6%
Therefore, the return on the market portfolio in equilibrium is 11.6%.
Learn more about stock here:- brainly.com/question/31940696
#SPJ11
Which product most likely resulted from efforts to understand how target users do their tasks, and how they fail to get task satisfaction from existing products
The product that most likely resulted from efforts to understand how target users do their tasks and how they fail to get task satisfaction from existing products is a user-centered or user-focused product.
This type of product is designed based on deep insights into users' needs, behaviors, and pain points in order to provide a better user experience and address the shortcomings of existing products.
By understanding how target users currently perform their tasks and identifying the shortcomings of existing products, designers and developers can create a new product that addresses those specific user needs and frustrations. This user-centered approach aims to improve user satisfaction, efficiency, and effectiveness by designing products that align with users' mental models and workflows.
The result of this process is often a product that is more intuitive, user-friendly, and tailored to the specific tasks and goals of the target users. It takes into account their behaviors, preferences, and challenges, resulting in a more satisfying user experience.
To know more about product, visit:
https://brainly.com/question/33332462
#SPJ11
Consider a portfolio of 10% stock X and 90% stock Y. What is the (population) standard deviation of portfolio returns
The standard deviation of portfolio returns for a portfolio consisting of 10% stock X and 90% stock Y can be calculated using the weighted average of the individual stock standard deviations.
To calculate the standard deviation of the portfolio returns, we need to consider the weights of the two stocks and their respective standard deviations.
Let's assume that stock X has a standard deviation of σX and stock Y has a standard deviation of σY. Since stock X represents 10% of the portfolio and stock Y represents 90% of the portfolio, we can calculate the weighted standard deviation as follows:
Portfolio Standard Deviation = [tex]√[(weight of X * σX)^2 + (weight of Y * σY)^2 + 2 *[/tex] (weight of X * weight of Y * σX * σY * correlation coefficient)]
In this case, since we don't have information about the correlation coefficient between the two stocks, we assume they are uncorrelated, which simplifies the equation:
Portfolio Standard Deviation = √[(0.1 * σX)^2 + (0.9 * σY)^2]
By plugging in the values of the stock standard deviations, we can calculate the portfolio's standard deviation of returns.
It's important to note that the standard deviation provides a measure of the risk or volatility of the portfolio returns. A higher standard deviation indicates greater variability in the returns, implying higher risk.
Learn more about standard deviation of portfolio
brainly.com/question/29730966
#SPJ11
transfer payments are question 16select one: a. included in gdp because they represent income to individuals. b. included in gdp because they eventually will be spent on consumption. c. not included in gdp because they are not payments for currently produced goods or services. d. not included in gdp because taxes will have to be raised to pay for them.
Transfer payments are not included in GDP because they are not payments for currently produced goods or services.
Transfer payments refer to payments made by the government to individuals or groups without the exchange of goods or services. They are typically aimed at redistributing income or providing assistance, such as social security benefits, welfare payments, or unemployment benefits. Transfer payments do not represent payments for the production of goods or services in the current period, and therefore they are not included in the calculation of GDP (Gross Domestic Product). The calculation of GDP focuses on the value of final goods and services produced within an economy during a specific time period. It includes only those transactions that involve the exchange of goods and services for a price. Transfer payments, on the other hand, do not involve the production of goods or services and do not contribute directly to economic output.
While transfer payments may provide income to individuals, their inclusion in GDP would result in double counting. For example, if social security benefits were included in GDP, it would be counting the government's payment as well as the subsequent spending of those benefits by individuals, leading to an inflated measure of economic output.
In summary, transfer payments are not included in GDP because they are not payments for currently produced goods or services. Instead, they are transfers of income or resources without a corresponding production activity.
To learn more about Transfer payments click here:
brainly.com/question/32988441
#SPJ11
Which of the following is not true of financial ratios?
Group of answer choices
A- They allow you to benchmark against industry standards
B- They are used in Medicare's calculation for reimbursements
C- There are nearly an unlimited number of ratios that can be calculated
D- They help measure the organization's financial performance
B- They are factored into the Medicare reimbursement formula.
B- They are factored into the Medicare reimbursement formula.
Financial ratios are instruments for evaluating the health and performance of a company's finances. They offer information about different facets of a business' operations, profitability, liquidity, and solvency.
A) You can benchmark against industry standards using financial ratios. You may evaluate a company's performance in relation to industry averages or rivals by contrasting its ratios, which will also show you where it needs to improve.
C) Although it is possible to construct a large number of financial ratios, the possibilities are limited. There are several commonly used ratios, including those that measure profitability (such as return on assets and gross profit margin), liquidity (such as current and quick ratios), and leverage (such as debt-to-equity and interest coverage ratios).
D) Financial ratios do in fact make it possible to assess the financial health of an organization.
Learn more about Financial ratios here:
https://brainly.com/question/31531442
#SPJ11
which does utility measure? responses satisfaction satisfaction usefulness usefulness value value money
Utility is a concept used to measure the satisfaction or usefulness derived from a product, service, or experience. Hence Option B is correct.
It encompasses various dimensions such as satisfaction, usefulness, value, and money. Satisfaction refers to the level of contentment or fulfillment obtained from a particular item or activity. Usefulness refers to the practicality or effectiveness of a product in meeting a specific need or purpose.
The value represents the worth or importance assigned to a good or service in relation to its cost or benefits. Money is a quantifiable measure of value and represents the price or monetary exchange associated with a product or service.
Therefore option B is correct.
Learn more about utility measures here
https://brainly.com/question/14804307
#SPJ12
The concept of utility typically measures satisfaction or usefulness. Thus, option B is the correct option.
Utility refers to the satisfaction or value that an individual derives from consuming a product or service. It is a subjective measure that assesses the level of satisfaction or happiness a person experiences when consuming or using something.
Therefore, the responses "satisfaction" and "usefulness" align with the concept of utility. The other responses, "value" and "money," are related to the concept of utility but do not directly measure it. Value can be derived from utility, and money is often used as a means to obtain utility or satisfy preferences.
Thus, option B is the correct option.
Learn more about utility measure here:
https://brainly.com/question/31527742
#SPJ4
Veronica has to create a schedule for the accounting department
over the holiday break. She knows that 20% of the staff will not be
available because they are taking a vacation. Of the remaining
staff
Veronica needs to create a schedule for the accounting department over the holiday break, considering that 20% of the staff will not be available due to vacation.
Veronica needs to account for the fact that 20% of the staff will be on vacation during the holiday break when creating the schedule for the accounting department. This means that she should allocate the work and shifts based on the available staff, taking into consideration the reduced workforce.
By doing so, she can ensure that the department continues to operate efficiently even with a smaller team during the holiday period. Proper planning and coordination will be essential to manage the workload effectively.
For more questions like Staff click the link below:
https://brainly.com/question/17577926
#SPJ11
collusive agreements can be established and maintained by: multiple choice empty threats. one-time games. first-mover advantage. credible threats.
The collusive agreements can be established and maintained by first-mover advantage. The first-mover advantage is one of the reasons why the collusive agreements can be established and maintained
It is a strategic advantage that the first successful player of a game gets, and it has many advantages such as gaining a competitive advantage and having more resources for further investment. The other options, like empty threats, one-time games, and credible threats, are not ways that collusive agreements can be Learn more about income here#SPJ11and maintained. These are not significant factors that would lead to collusive agreements .Collusion is an illegal agreement between two or more companies to conduct their businesses in a specific way. The purpose of such an agreement is to gain an advantage over competitors by raising prices, limiting output, or allocating market share. It is illegal to engage in collusion as it harms competition and consumer welfare. Collusive agreements are made by companies in the same industry to increase their profits. It involves an agreement to limit competition, and each company benefits by sharing the market
.Learn more about maintained here:
https://brainly.com/question/14732695
#SPJ11
True or false: When interest payments are made on the debt, government must reduce outlays for other purposes or finance a larger budget.
When interest payments are made on the debt, government must reduce outlays for other purposes or finance a larger budget" is true. When a government makes interest payments on its debt, it needs to allocate funds for those payments.
To illustrate this, let's consider an example. Imagine a government that has a fixed budget for various programs, such as education, healthcare, and infrastructure. If this government needs to make interest payments on its debt, it has two options: either reduce the funding allocated to one or more of these programs to free up funds for the interest payments or increase its overall budget by borrowing more money to cover the interest payments.
In either case, the government must make adjustments to its budget to accommodate the interest payments on its debt. This is because the interest payments represent an obligation that the government must fulfill. Failure to make these payments could have serious consequences, such as damaging the government's creditworthiness or credibility in financial markets.
To know more about interest visit:
https://brainly.com/question/31829590
#SPJ11
Producer surplus is a. the opportunity cost of production minus the cost of producing goods that go unsold. b. the amount a seller is paid minus the cost of production. c. measured using the demand curve for a good.
Producer surplus is (Option b) the amount a seller is paid minus the cost of production.
It is the difference between the price a seller is willing to accept for a good and the price they actually receive. It is a measure of the economic benefit that producers receive from selling their goods.
The demand curve for a good shows the quantity of a good that consumers are willing to buy at different prices. It is not used to measure producer surplus.
The opportunity cost of production is the value of the next best alternative that a producer gives up when they choose to produce a good. It is not used to measure producer surplus.
The cost of producing goods that go unsold is not part of producer surplus. Producer surplus only considers the goods that are actually sold.
To learn more about demand curve: https://brainly.com/question/32903783
#SPJ11
assume that the cost of operating a car during a year depends on the condition of the car at the beginning of the year; if car is replaced at the beginning of a year, that years cost includes the cost of replacement plus maintenance of the new (decent) car. 3
The total costs for Car A and Car B will be the same after 9 years .
To determine the number of years it takes for the total cost of both cars to be the same,
find the point at which the cumulative costs of Car A and Car B equal each other.
Let's denote the number of years as "x."
For Car A, the total cost after x years can be calculated as,
Total Cost of Car A
= Cost of Car A + (Average annual cost of fuel, maintenance, and repairs for Car A) × x
For Car B, the total cost after x years can be calculated as,
Total Cost of Car B
= Cost of Car B + (Average annual cost of fuel, maintenance, and repairs for Car B) × x
Setting these two equations equal to each other and solving for x will give us the number of years required for the total costs to be equal.
17,655 + 1,230x = 15,900 + 1,425x
Simplifying the equation,
1,425x - 1,230x = 17,655 - 15,900
195x = 1,755
x = 1,755 / 195
x ≈ 9
Therefore, after approximately 9 years, the total costs for Car A and Car B will be the same.
Learn more about cost here
brainly.com/question/29856450
#SPJ4
The given question is incomplete, I answer the question in general according to my knowledge:
Suppose you're thinking about buying one of two cars. Car it will cost $17,655. Who can expect to pay an average of $1230 Per year for fuel, maintenance, and repairs. Car b will cost about $15,900. Fuel, maintenance, and repairs for it will average about $1425 per year. After how many years are the total cost for the car is the same
what category of planning covers a period from a day to 6 months with daily or weekly time increments?
The category of planning that covers a period from a day to 6 months with daily or weekly time increments is known as short-term planning.
Short-term planning is focused on shorter timeframes ranging from a day to several months. It involves setting objectives and making decisions that are more immediate and tactical in nature. This type of planning is commonly used to address operational activities, resource allocation, and specific goals within a relatively short timeframe. Short-term planning typically involves tasks and activities that need to be accomplished in the near future. It may include setting daily or weekly targets, creating schedules, assigning tasks, and ensuring timely execution of plans. This level of planning is particularly important for managing day-to-day operations, addressing immediate challenges, and making adjustments based on current circumstances.
learn more about planning here :
https://brainly.com/question/32363096
#SPJ11
suppose an economy described by the solow model is in a steady state with population growth n of 1.8 percent per year and technological progress g of 1.8 percent per year. total output and total capital grow at 3.6 percent per year. suppose further that the capital share of output is 1313 . a. using the growth-accounting equation to divide output growth into three sources—capital, labor, and total factor productivity—determine how much output growth can be attributed to each source. (indicate your answer to the tenths place.)
The output growth attributed to each source is as follows:
Capital: 1.1268 (to the tenths place)
Labor: 1.2434 (to the tenths place)
Total Factor Productivity (TFP): 1.8 (to the tenths place)
To determine the output growth attributed to each source (capital, labor, and total factor productivity), we can use the growth-accounting equation. The growth-accounting equation is given by:
Output Growth = Capital Share x Capital Growth + Labor Share x Labor Growth + TFP Growth
In this case, we know that the capital share of output is 0.313 (or 31.3%), and the total output and total capital grow at 3.6 percent per year. The population growth (labor growth) is given as 1.8 percent per year, and the technological progress (TFP growth) is also 1.8 percent per year.
Let's calculate the output growth attributed to each source:
Output Growth = 0.313 x 3.6 + (1 - 0.313) x 1.8 + 1.8
Output Growth = 1.1268 + 1.2434 + 1.8
Output Growth = 4.1702
To know more about Capital Share click on below link:
https://brainly.com/question/32538254#
#SPJ11
financial statement frauds and potential of between information providers and users leads to a natural skepticism on the part of users. (enter only one word per blank.)
In summary, the potential for financial statement frauds and the relationship between information providers and users contribute to a natural skepticism among users. It is important for users to exercise due diligence, scrutinize financial statements, and rely on independent audits and regulatory oversight to mitigate the risk of fraud.
Financial statement frauds occur when companies manipulate their financial statements to deceive investors, creditors, or other users of the information. This can lead to a loss of trust and skepticism among users.
The potential for fraud arises from the relationship between information providers (companies) and users (investors, creditors, etc.). Companies may have incentives to misrepresent their financial performance to attract investments or secure favorable credit terms. Users, on the other hand, rely on financial statements to make informed decisions about investing or lending.
This dynamic creates a natural skepticism among users. They become cautious and doubtful about the accuracy and reliability of financial information provided by companies. Users may question the integrity of the reported numbers, suspecting hidden agendas or attempts to deceive.
The consequences of financial statement frauds can be significant. Investors may suffer financial losses, and creditors may face defaults. The reputation of the company may be tarnished, affecting future relationships and opportunities.
to know more about natural skepticism visit:
https://brainly.com/question/33744282
#SPJ11
At a certain car rental agency a compact car rents for $35 a day and 10€ a mile. (a) How much does it cost to rent a car for 7 days if the car is driven 390 mi? $ (b) Find a formula that models the cost C (in dollars) of renting this car for n days if it is driven m miles. C= (c) If the cost for a 7 day rental was $295, how many miles was the car driven? mil
(a) The cost to rent a car for 7 days, driven 390 miles, would be $4,145.
(b) The formula that models the cost C (in dollars) of renting this car for n days if it is driven m miles is: C = 35n + 10m.
(c) If the cost for a 7-day rental was $295, the car was driven 5 miles.
To calculate the cost of renting a car for 7 days and driving 390 miles, we need to consider both the daily rate and the mileage charge. The daily rate for a compact car is $35, so for 7 days, the cost would be 7 x $35 = $245. Additionally, the car was driven 390 miles, and the mileage charge is $10 per mile. Therefore, the mileage charge would be 390 x $10 = $3,900. Adding the daily rate and the mileage charge, the total cost to rent the car for 7 days and drive 390 miles would be $245 + $3,900 = $4,145.
The formula that models the cost C (in dollars) of renting this car for n days if it is driven m miles is given by C = 35n + 10m. This formula takes into account the daily rate of $35 per day and the mileage charge of $10 per mile. By plugging in the values of n and m, we can calculate the total cost of renting the car.
If the cost for a 7-day rental was $295, we can use the formula C = 35n + 10m to find the number of miles driven. Rearranging the formula, we have 10m = C - 35n. Substituting the values of C = $295 and n = 7, we can solve for m. Therefore, 10m = $295 - 35 x 7 = $295 - $245 = $50. Dividing both sides by 10, we find m = $50 / 10 = 5. Thus, the car was driven 5 miles.
Learn more about cost
brainly.com/question/14566816
#SPJ11
Tests containing ambiguous stimuli, such as word-association tests and ink blots, are examples of?
Tests containing ambiguous stimuli, such as word-association tests and ink blots, are examples of projective tests.
Projective tests are psychological assessments designed to reveal a person's unconscious thoughts, emotions, and motivations by presenting them with ambiguous stimuli. These tests rely on the individual's interpretation and projection of their inner experiences onto the stimuli.
Word-association tests involve presenting individuals with a series of words and asking them to respond with the first word that comes to mind. The responses are analyzed to uncover underlying thought processes and associations.
Ink blot tests, such as the Rorschach test, present individuals with symmetrical ink blots and ask them to describe what they see. The interpretations of the ink blots are believed to reveal aspects of the individual's personality, emotions, and perception.
Projective tests aim to access information that may be inaccessible through direct questioning, providing insights into a person's unconscious or hidden aspects of their psyche. However, it's important to note that projective tests are subject to interpretation and may not have strong scientific validity or reliability compared to other psychological assessments.
Learn more about projective tests.
https://brainly.com/question/33440247
#SPJ11
Which of the following is FALSE concerning channel members: Group of answer choices An agent, e.g., a Manufacturer's Representative, does not take physical possession of the product being sold. There are two kinds of Merchant Wholesalers: Distributors and Jobbers. Distributors and jobbers are considered part of a vertically-integrated channel. The main difference between a Manufacturer's Sales Branch and a Manufacturer's Sales Office is that the sales branch carries inventory. A distributor is a full function wholesaler.
Among the statements provided, the FALSE statement concerning channel members is: "The main difference between a Manufacturer's Sales Branch and a Manufacturer's Sales Office is that the sales branch carries inventory." In reality, the main difference between these two is not whether they carry inventory or not.
Both a Manufacturer's Sales Branch and a Manufacturer's Sales Office can carry inventory depending on their specific operations and business model. The main distinction lies in their ownership and control. A Manufacturer's Sales Branch is owned and operated by the manufacturer, while a Manufacturer's Sales Office is independent and operates as a separate entity. In conclusion, the false statement is that the main difference between a Manufacturer's Sales Branch and a Manufacturer's Sales Office is the inventory carrying status.
To know more about inventory, visit:
https://brainly.com/question/31146932
#SPJ11
1. Accounts Receivable decrease by $400,000 2. Accounts Payable increase by $900,000 3. Gross Property, Plant,
To summarize, the given information states that the Accounts Receivable decreased by $400,000, Accounts Payable increased by $900,000, and no information is provided regarding Gross Property, Plant, and Equipment.
Based on the given information, the following changes occur:
1. Accounts Receivable decrease by $400,000
2. Accounts Payable increase by $900,000
3. Gross Property, Plant, and Equipment remain unspecified.
Accounts Receivable refers to the amount of money owed to a company by its customers for goods or services provided on credit. When Accounts Receivable decrease by $400,000, it means that customers have paid back $400,000 of their outstanding debts to the company.
Accounts Payable, on the other hand, represents the amount of money a company owes to its suppliers for goods or services received on credit.
An increase in Accounts Payable by $900,000 means that the company has incurred additional debts by purchasing goods or services from suppliers and has yet to pay them back.
Regarding Gross Property, Plant, and Equipment, no specific changes or amounts are provided, so it is difficult to determine any variations in this category.
to know more about accounts visit:
https://brainly.com/question/22917325
#SPJ11
Chicagoland Sweets is a commercial baker that provides baked goods such as cookies and muffins to a number of coffee houses and snack bars around the Chicago area. Flour is an ingredient to many of their products so they use it at a constant rate of 4000 pounds every week. Their supplier sells flour in 50 pound bags at a price of $20 per bag. Chicagoland's management estimates that it cost $64 every time that they place an order for flour. Their cost of capital is 25% per year. How many pounds of flour Chicagoland should order to minimize its cost of holding flour inventory and placing order? (Assume 50 weeks per year.)
a) 800
b) 4,000
c) 16,000
d) 64,000
Chicagoland Sweets should order 4,000 pounds of flour to minimize its cost. This is because the optimal order quantity is the one that minimizes the sum of holding costs and ordering costs, and in this case, ordering 4,000 pounds of flour aligns with that.
To explain further, the Economic Order Quantity (EOQ) formula can be used to determine the optimal order quantity. EOQ = √((2 × demand × setup cost) / holding cost). In this scenario, the demand is 4,000 pounds per week, the setup cost is $64 per order, and the holding cost is the product of the flour price ($20 per bag) and the cost of capital (25% per year). By plugging these values into the formula, the optimal order quantity is found to be 4,000 pounds.
Learn more about Economic Order here:
https://brainly.com/question/12680250
#SPJ11
you own a building that is expected to pay annual cash flows forever. if the building is worth $860000, the cost of capital is 8.0%, annual cash flows are expected with the first one due in one year and equal to $60000, and all subsequent cash flows are expected to grow annually by a constant rate,then what is the expected annual growth rate of expected cash flows?(round the value to 100th decimal and please enter the value only without converting it to a decimal format. if the answer is 8.55%, enter 8.55)
To find the expected annual growth rate of the cash flows, we can use the Gordon Growth Model. According to the model, the value of an asset is equal to the sum of its expected future cash flows, discounted at the cost of capital. In this case, the value of the building is $860,000, and the cost of capital is 8.0%.
Using the formula for the Gordon Growth Model, we can calculate the growth rate. Rearranging the formula, we have: Growth Rate = (Discount Rate - Dividend Yield). Given that the annual cash flow is $60,000 and the first cash flow is due in one year, the dividend yield is $60,000 / $860,000 = 0.0698 or 6.98%.
Therefore, the growth rate can be calculated as 8.0% - 6.98% = 1.02%. Hence, the expected annual growth rate of the cash flows is 1.02%.
To know more about cash flows visit:-
https://brainly.com/question/27994727
#SPJ11
which of the following are concepts taught in a financial accounting course? understanding and applying the policies and procedures that a business puts in place to protect the business reporting what a business owns and owes reporting the cash a business receives and spends
Concepts taught in a financial accounting course include reporting what a business owns and owes, as well as reporting the cash a business receives and spends. Option B, C.
In a financial accounting course, the following concepts are typically taught:
a. Understanding and applying the policies and procedures that a business puts in place to protect the business:
Financial accounting involves understanding and applying internal controls and safeguards to protect a business from fraud, errors, and mismanagement. This includes implementing proper segregation of duties, maintaining accurate records, conducting regular audits, and ensuring compliance with laws and regulations.
b. Reporting what a business owns and owes:
Financial accounting focuses on reporting a business's assets, liabilities, and equity. This includes identifying and valuing the resources owned by the business (such as cash, inventory, property, and equipment) and the amounts owed to creditors or other stakeholders (such as loans, accounts payable, and accrued expenses).
c. Reporting the cash a business receives and spends:
Financial accounting involves accurately recording and reporting the cash inflows and outflows of a business.
This includes documenting sales revenue, expenses, cash payments to suppliers, cash receipts from customers, and other financial transactions related to cash. Cash flow statements are often prepared to summarize the sources and uses of cash within a given period.
These concepts are essential for understanding the financial health of a business, evaluating its performance, and making informed decisions. So Option B,C is correct.
For more question on financial visit:
https://brainly.com/question/1265337
#SPJ8
Note the complete question is
4. Which of the following are concepts taught in a financial accounting course?
a. Understanding and applying the policies and procedures that a business puts in place to protect the business
b. Reporting what a business owns and owes
c. Reporting the cash a business receives and spends
what are the three basic steps to creating a set of projected financial statements? why is this process not as simple as it sounds?
The three basic steps to creating a set of projected financial statements are forecasting sales and revenue, projecting expenses, and calculating net income and cash flow.
Creating projected financial statements involves a systematic process to estimate future financial performance. Forecasting sales and revenue helps determine the top-line growth, while projecting expenses considers various cost factors. Calculating net income and cash flow provides insights into profitability and liquidity. However, this process is complex due to uncertainties, reliance on assumptions, and external factors that can impact the accuracy of the projections. Expertise in financial analysis and industry knowledge is necessary to navigate these complexities effectively.
Learn more about cash here;
https://brainly.com/question/30588084
#SPJ11
What general manufacturing process is described as: the plastic deformation of metals well below their maximum operating temperature
The general manufacturing process you are referring to is known as cold working. Cold working involves the plastic deformation of metals at temperatures below their maximum operating temperature. This process increases the strength and hardness of the metal while retaining its desired shape.
Cold working is typically done through methods such as rolling, drawing, extrusion, or forging. In each of these methods, the metal is subjected to compressive forces, causing it to undergo plastic deformation. The key aspect of cold working is that it is performed below the recrystallization temperature of the metal, which means that the grains in the metal are not allowed to reorient and rearrange. Cold working can be used to produce a wide range of products, including sheets, wires, tubes, and various components used in industries such as automotive, aerospace, and construction.
To know more about manufacturing visit:
https://brainly.com/question/28384697
#SPJ11
if 86,500 pounds of raw materials are needed to meet production in august, what is the estimated raw materials inventory balance at the end of july?
The estimated raw materials inventory balance at the end of July can not be determined.
To determine the estimated raw materials inventory balance at the end of July, we will have to perform a simple calculation. In order to calculate raw materials inventory balance, we need the beginning inventory balance, add the raw materials purchased during the month and then subtract the raw materials used during the month.
Collect the necessary information. The raw material requirements for the production in August is 86,500 pounds. Step
Find the amount of raw materials needed for production in July .If we know the production requirements for August, we can assume that the same amount of raw material was needed in July too. Therefore, the raw material requirement for July is 86,500 pounds.
Calculate the estimated raw materials inventory balance at the end of July. In order to determine the estimated raw materials inventory balance at the end of July, we need to know the beginning inventory balance and raw materials purchased during the month.
However, this information is not provided in the question. Therefore, we cannot determine the estimated raw materials inventory balance at the end of July.
Learn more about inventory balance https://brainly.com/question/31028972
#SPJ11
Account executives are involved in tactical decision making and day-to-day contact with brand managers and other client personnel.
True
False
True. Account executives are responsible for maintaining client relationships and making tactical decisions in collaboration with brand managers.
True. Relationship building and maintenance with clients, including brand managers and other client staff, are normally the duties of account executives. They serve as the client's primary point of contact, attending to their requirements and offering remedies. By working with customers to develop and implement marketing plans, campaigns, and promotional initiatives, account executives take tactical decisions. They collaborate closely with brand managers to make sure marketing activities are carried out successfully, to track the effectiveness of campaigns, and to make any necessary revisions. Account executives are fundamental to upholding client pleasure, promoting efficient communication, and fostering corporate expansion.
Learn more about Account executives here:
https://brainly.com/question/32194791
#SPJ11
On April 1, 2020 Everjoy Company purchased $60,000 of Miller Corporation's 8% bonds at a purchase price of 105. At the time of purchase the market rate of interest was 6%. Everjoy Company, whose year end is December 31, expects to hold the bonds until their maturity date 5 years from the date of purchase. Interest on the bonds will be paid every April 1 and October 1 until maturity. What is the carrying value (amortized cost) of the bond that Everjoy Company would report on October 1, 2020? Answer: \$
The carrying value (amortized cost) of the bond that Everjoy Company would report on October 1, 2020, is $63,000.
The carrying value of a bond is the purchase price plus any accrued interest and minus any discount or plus any premium amortized over the bond's life. Since the bond was purchased at a premium (105% of face value), the premium needs to be amortized over the bond's life. In this case, the bond has a 5-year life, so each year 1/5th of the premium needs to be amortized. Therefore, on October 1, 2020 (6 months after the purchase date), the amortized cost would be $63,000 ($60,000 + 1/5 * $3,000 premium amortization).
Learn more about Company here;
https://brainly.com/question/30532251
#SPJ11
page(s) 203-204 6.3. when do price floors matter? suppose the equilibrium price for medicinal (isopropyl) alcohol is $7 per pint. what would be the lowest possible binding price floor on a pint?
In the context of price floors, they matter when they are set above the equilibrium price in a market. Price floors are typically implemented to ensure that the price of a good or service does not fall below a certain .
If the equilibrium price for medicinal (isopropyl) alcohol is $7 per pint, the lowest possible binding price floor on a pint would be set at $7 or higher. Setting a price floor below the equilibrium price would not have any practical effect since it would not impact the market dynamics. However, if a price floor is set at or above $7, it would create a legally enforced minimum price, potentially leading to a surplus if the floor exceeds the equilibrium price, as suppliers are unable to sell all their products at the mandated price.level, often to protect producers or maintain a minimum standard.
learn more about price here:
https://brainly.com/question/14868235
#SPJ11
sales revenue $ 136,200 expenses cost of goods sold 55,000 depreciation expense 18,500 salaries expense 31,000 rent expense 10,300 insurance expense 5,100 interest expense 4,900 utilities expense 4,100 net income $ 7,300
The given net income is $7,300, but based on the calculations, the net income is $6,300.
Based on the given information, we can calculate the net income by subtracting the total expenses from the sales revenue.
Total Expenses = Cost of Goods Sold + Depreciation Expense + Salaries Expense + Rent Expense + Insurance Expense + Interest Expense + Utilities Expense
Total Expenses = $55,000 + $18,500 + $31,000 + $10,300 + $5,100 + $4,900 + $4,100
Total Expenses = $129,900
Net Income = Sales Revenue - Total Expenses
Net Income = $136,200 - $129,900
Net Income = $6,300
The calculated net income is $6,300 as opposed to the stated net income of $7,300. It's possible that there might be some additional income or expenses not mentioned in the question. Without further information, it's difficult to determine the exact reason for the discrepancy.
Learn more about net income
https://brainly.com/question/31193110
#SPJ11
The given net income is $7,300, but based on the calculations, the net income is $6,300.
Based on the given information, we can calculate the net income by subtracting the total expenses from the sales revenue.
Total Expenses = Cost of Goods Sold + Depreciation Expense + Salaries Expense + Rent Expense + Insurance Expense + Interest Expense + Utilities Expense
Total Expenses = $55,000 + $18,500 + $31,000 + $10,300 + $5,100 + $4,900 + $4,100
Total Expenses = $129,900
Net Income = Sales Revenue - Total Expenses
Net Income = $136,200 - $129,900
Net Income = $6,300
The calculated net income is $6,300 as opposed to the stated net income of $7,300.
It's possible that there might be some additional income or expenses not mentioned in the question. Without further information, it's difficult to determine the exact reason for the discrepancy.
Learn more about net income
brainly.com/question/31193110
#SPJ11
Some special handling devices can be obtained for $20,000. At the end of 5 years, they can be sold for $2000. Compute the depreciation schedule for the devices using the following methods:
(a) Straight-line depreciation
(b) Double declining balance depreciation
(c) 100% bonus depreciation
(d) MACRS depreciation
(a) Straight-line depreciation: $3,600 per year for 5 years.
(b) Double declining balance depreciation: $7,200 in the first year, $4,320 in the second year, $2,592 in the third year, $1,555 in the fourth year, and $933 in the fifth year.
(c) 100% bonus depreciation: $20,000 in the first year, $0 for the remaining years.
(d) MACRS depreciation: Varies depending on the asset class and recovery period.
For straight-line depreciation, the cost of the special handling devices is divided equally over their useful life. In this case, the devices are purchased for $20,000 and are expected to be used for 5 years. Therefore, the annual depreciation expense would be $20,000 divided by 5, resulting in $3,600 per year.
Double declining balance depreciation is an accelerated depreciation method. It assumes that the asset depreciates more in the earlier years and less in the later years. The depreciation rate is double the straight-line rate. Using this method, the depreciation expense for each year is calculated based on the decreasing book value of the asset. In the first year, the expense is $20,000 multiplied by 2, resulting in $7,200. In the second year, the expense is calculated by multiplying the book value at the beginning of the year by 2, resulting in $4,320. This process continues until the end of the asset's useful life.
100% bonus depreciation is a method that allows businesses to deduct the full cost of an asset in the year it is placed in service. In this case, the entire cost of the special handling devices, which is $20,000, can be deducted in the first year. There is no further depreciation expense in the subsequent years.
MACRS (Modified Accelerated Cost Recovery System) depreciation is a method used for tax purposes in the United States. It assigns assets to specific classes and recovery periods. Each class has a predetermined depreciation schedule, and the depreciation expense varies accordingly. The calculation for MACRS depreciation requires detailed information on the asset class and recovery period, which is not provided in the question. Therefore, the specific depreciation amounts cannot be determined without this information.
Learn more about depreciation
brainly.com/question/30531944
#SPJ11