Answer:
the life of a farmer in Kaira was very much like that of farmers anywhere else in India. His income was derived almost entirely from seasonal crops. Many poor farmers faced starvation during off-seasons. Their income from milch buffaloes was undependable. The milk marketing system was controlled by contractors and middlemen. As milk is perishable, farmers were compelled to sell their milk for whatever they were offered. Often they had to sell cream and ghee at a throwaway price.
Explanation: reword in your own words so there is no plagiarism
Suppose the countries of Iceland and Norway set up a free trade area, eliminating all trade barriers between themselves but maintaining tariffs on imports from the rest of the world. Now, Iceland begins to import wool from Norway. However, Iceland had previously been importing wool from England, which produced wool more cheaply than both Iceland and Norway. What is this an example of
Answer:
Trade Bloc
Explanation:
Trade Bloc is a type of agreement between two sovereign nations in which barriers to trade are either reduced or totally eliminated between the two nations. This type of agreement can either be one agreement between several nations or a part of a regional organization.
So, the example of Iceland and Norway is an example of a trade bloc.
Who may pay for the services of alcoholic beverage in a private club
Answer:
Members Only
Explanation:
"A 5 year 3 1/2% Treasury Note is quoted at 98-4 - 98-9. The note pays interest on Jan 1st and Jul 1st. A customer buys 5M of the notes. Approximately how much will the customer pay, disregarding commissions and accrued interest?"
Answer:
$4,914.06
Explanation:
Calculation for how much will the customer pay by disregarding commissions and accrued interest
The 5M which the customers used to buy the notes means that the customer is buying $5,000 par value of the notes.
Take note that the capital letter M in Latin means for $1,000.
Therefore the customer will have to buy at the ask price of 98 and (9/32nds =0.28125) which means that 98%+0.28125 will gives us 98.28127.
Now let calculate for how much will the customer pay by disregarding commissions and accrued interest
98.28125% * $5,000 par
= $4,914.06
Therefore the amount that the customer pay by disregarding commissions and accrued interest will be $4,914.06
The CEO/chairman of PharmaPacifica was recently killed in an airplane crash. This tragedy has thrown PharmaPacifica into turmoil as there is no one in the organization qualified to step into the former CEO’s shoes. This is an example of:
Answer:
A failure or lack of succession management
Explanation:
The going concern of any business should always be its top priority. This is the reason why every organization should have a good succession planning and management in place.
Succession management is a process of having in place a program that prepares and equips potential leaders with adequate experience and skills to take over from incumbent leaders whenever they are out of service , so that the business can maintain its existence into the future.
In a situation where a succession management is not in place or effective , the death of a leader causes a major setback to the business as can be seen in the question.
A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
Answer:
The correct journal entry to record the payment on July 12 is:
Accounts Payable $1,600(debit)
Discount Received $32 (credit)
Cash $1,568 (credit)
Explanation:
When Company Purchases Merchandise
Merchandise Inventory $1,800 (debit)
Accounts Payable $1,800 (credit)
When Company Returns some Merchandise
Accounts Payable $200 (debit)
Merchandise Inventory $200 (credit)
When Company pay for the Inventory on 12 July
Note : Payment is made within the Cash discount period and it is eligible for the 2% Cash Discount.
Accounts Payable $1,600(debit)
Discount Received $32 (credit)
Cash $1,568 (credit)
The correct journal entry to record the payment on July 12 is:
Accounts Payable (debit) - $1,600
Discount Received (credit) - $32
Cash (credit) - $1,568
A journal entry is the process of recording any transaction, whether it is commercial or not. An accounting diary that displays the debit, as well as credit balances of a corporation, lists transactions.
The journal entry will be:
1. Merchandise Inventory (debit) - $1,800
Accounts Payable (credit) - $1,800
2. Accounts Payable (debit )- $200
Merchandise Inventory (credit) - $200
3. Accounts Payable (debit)- $1,600
Discount Received (credit) - $32
Cash (credit)- $1,568
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Zeke's Zipline Adventures sold 6 acres of land used in the business. The sales price was $12,000 and the adjusted basis of the land was $9,000. Zeke received $4,000 at the time of sale and will receive the remaining $8,000 early next year. How much gain will Zeke recognize in the current year
Answer:
$1,000
Explanation:
Zeke's zipline sold 6 acres of land
The sales price of the land was $12,000
The adjusted basis of the land was $9,000
Zeke received an amount of $4,000 at the time of sale
The remaining $8,000 will be received next year
Therefore, the amount of gain that will be recognised by Zeke in the Current year can be calculated as follows
Sales price-adjusted basis/sales price
$12,000-$9,000/$12,000
= $3,000/$12,000
= 0.25
Amount received at the time of sale × 0.25
= $4,000×0.25
= $1,000
Hence Zeke will recognise a gain of $1,000 in the Current year.
Felicia is very warm and accepting to both of her two children, but she also sets firm rules that the children must follow with very few exceptions. The characteristics that best describe her are:
Answer:
Responsive and demanding
Explanation:
according to Baumrind, there are four parenting styles :
Authoritative
authoritarian
permissive
Neglectful
Parenting behaviour are divided into two dimensions :
demandingness - when a parent controls their child's actions
Responsiveness - refers to the extent to which the parent accepts and recognises their child's needs
Assume that you work for a company that produces different types of flavored salty snacks for many different target markets (for example, flavored potato chips or flavored sunflower seeds). One part of your job is to explore regularly what flavors your potential customers might like. Taste preferences constantly change, and you may not always be aware of all the flavors people crave. With the above research objective in mind, which type of research would you most likely conduct on a regular basis
Answer:
Focus group
Explanation:
The focus group refers to the people who are involved in a group to discuss about the topic that is related to the research of the market or the analysis of something or discussing for the new product.
It is an open discussion so that everyone who is in a group put their ideas and analyzed it what reactions would be received from an entire population
Since in the question, the taste and preferences changes constantly and the problem is that you are not aware of the flavours what actually people want so it should be discussed in a group so that proper analysis could be made by considering everyone perceptions
Therefore this research represent the focus group
In her research paper, Kirstein copied a few paragraphs from a renowned author's work verbatim without placing them within quotation marks or citing the source. The review board rejected her paper on grounds of plagiarism. In this scenario, Kirstein has committed:_________.
Answer:
Word-for-word.
Explanation:
Word for word plagiarism is seen to be an unethical form of writing where the said student or researcher is seen to copy a fellow researchers works verbatim and particularly word for word with also quotation marks too. In as much as this is a bad form for writers, people are always seen to commit themselves in still doing it. This can cause a lawsuit in some places depending on the researcher whose work is been stolen/copied.
In all, it is been tagged an act of intellectual dishonesty which comes with uneasy consequences when it is done to a wrong person; a plagiarized assignment may lead to a failing grade, a suspension, or an expulsion.
which of the following is the features of memorandum. (a) no salutation (b) dear ma/sir (c) it contains letter headed paper (d) it contains e-mail
Answer:
(c) it contains letter headed paper
Explanation:
A memorandum can be referred to as it's short form called a Memo. A memorandum is an official means of communicating internally with the staff or employees of an organization about the day to day running or operations of such an organization.
Features of a Memorandum ( Memo) includes:
a) It is always typed or written on the company's letter headed paper.
b) It includes the person or persons who the memo is been addressed to
c) It includes the name and signature of person writing the memo.
d) Subject or title of the memo.
e) Information about the subject of the memo.
Tanning Company analyzes its receivables to estimate bad debt expense. The accounts receivable balance is $390,000 and credit sales are $1,300,000. An aging of accounts receivable shows that approximately 5% of the outstanding receivables will be uncollectible. What adjusting entry will Tanning Company make if Allowance for Doubtful Accounts has a credit balance of $2,500 before adjustment? a. Bad Debt Expense65,000 Allowance for Doubtful Accounts65,000 b. Bad Debt Expense19,500 Allowance for Doubtful Accounts19,500 c. Bad Debt Expense22,000 Allowance for Doubtful Accounts22,000 d. Bad Debt Expense17,000 Allowance for Doubtful Accounts17,000
Answer:
d. Debit Credit
Bad Debt Expense $17,000
Allowance For Doubtful Accounts $17,000
Explanation:
Estimates of uncollectible ( $390,000× 5%) = $19,500
Less: Allowance For Doubtful Accounts Credit= ($2500)
Bad Debt Expense= $17,000
Suppose a monopoly firm produces bicycles and can sell 10 bicycles per month at a price of $700 per bicycle. In order to increase sales by one bicycle per month, the monopolist must lower the price of its bicycles by $50 to $650 per bicycle. The marginal revenue of the 11th bicycle is
Answer:
$150
Explanation:
A monopoly is when there's only one firm operating in an industry
Marginal revenue is the change in revenue when one extra unit of a product is sold.
=( $700 × 10) - (650 × 11) = $150
On April 30, Jemison Engineering receives a special order for a swing set to be delivered to the customer in a month's time. Jemison purchases a number of items specifically for the construction of the swing set: lumber, chains, railings and paint. According to the matching concept, when will Jemison Engineering record the cost of those special items as a cost of goods sold expense?
Answer:
When they record the sales revenue related to this special order.
Explanation:
The matching principle of accounting states that you must record revenue and all related COGS at the same time, i.e. when Jamison Engineering records sales revenue, they also must record COGS associated to the sales. Accrual accounting establishes that you cannot record COGS at a prior or later date.
In a monopolistically competitive market, a. the entry of new firms creates externalities. b. the absence of restrictions on entry by new firms ensures that there will be no deadweight loss. c. there are always too many firms in the market relative to the socially-optimal number of firms.
Better choose A variant
The federal government has asked how your company plans to reduce pollution in your metropolitan area. You decide to organize a team (members from different departments) to handle the government's request. To increase a sense of empowerment, what should you do?
The question is incomplete:
The federal government has asked how your company plans to reduce pollution in your metropolitan area. You decide to organize a team (members from different departments) to handle the government's request. To increase a sense of empowerment, what should you do?
A) Have them generate ideas for you to decide
B) Treat them as a suggestion team and have them teach each other their job
C) Allow them to make the decision but tell them that you will handle how the decision will be implemented
D) Allow them to make the decision and implement the solution as well
Answer:
D) Allow them to make the decision and implement the solution as well
Explanation:
Empowerment means to provide employees certin autonomy and giving them the resources to handle their projects. According to this, the answer is that to increase a sense of empowerment, you should allow them to make the decision and implement the solution as well as you will be allowing the employees to have the responsability to handle a task completely.
The other options are not right because when the supervisor maintains certain power to make decisions, employees don't increase the sense of empowerment as they are not able to handle the request by themselves.
Johan is the manager of CycleUp and has agreed to build a new manufacturing plant in Argentina. He realizes this decision will cause him to shut down a small plant in Ohio, but he decides that since the new facility will cut his operating costs in half, that is worth more than closing a plant employing ten people. Which philosophical approach to ethics does this demonstrate
Answer: Utilitarian
Explanation:
From the question, we are informed that Johan is the manager of CycleUp and has agreed to build a new manufacturing plant in Argentina and that he realizes this decision will cause him to shut down a small plant in Ohio, but he decides that since the new facility will cut his operating costs in half, that is worth more than closing a plant employing ten people
This is referred to as utilitarianism.
Utilitarianism seeks to make the society as a whole better even though it might comes as an expense to a few individuals for the larger society to enjoy.
How does the ability to discriminate correctly affect his or her earnings? A. If the negotiated price is higher than the reservation price, a sale is lost, and if the negotiated price is lower than the reservation price, some profit is lost. B. If the negotiated price is higher than the reservation price, some profit is lost, and if the negotiated price is lower than the reservation price, a sale is lost. C. If the reservation price is higher or lower than the reservation price, revenue is gained. D. If the reservation price is higher or lower than the reservation price, a sale is lost. E. If the negotiated price equals the reservation price, profit equals zero.
Answer:
if the negotiated price equals the reservation price profit is zero
Nick won $1000 lottery prize He can't decide what he should spend the money con buy a console, a bike ,a watch or a trip . He gives up the bike and the watch but he rally wants the console. In the end he saves it all for the trip. Which item is the opportunity cost of Nick's trip?
Answer: Console
Explanation:
Opportunity cost is what one forgoes in order to get somethings else. Opportunity cost is as a result of limited resources hence a choice has to be made.
From thw question, we are told that
Nick won $1000 lottery prize and he can't decide what he should spend the money on buy as he wanted a console, a bike ,a watch or go on a trip. We are further told that he gives up the bike and the watch but he really wants the console and that in the end he saves it all for the trip.
The opportunity cost here is the console. He wasn't really interested in the bike or watch but he really as very interested in the console and he eventually gave up on the console for the trip.
Which best describes a way people can use personal loans? to buy a house to buy a bicycle to pay for college to pay for groceries
Answer:
c. to pay for college
Explanation:
just took the test
Answer:
C. to pay for college
Explanation:
duties of an office clerk
Answer:
what do you need to know
Production estimates for August are as follows: Estimated inventory (units), August 1 12,000 Desired inventory (units), August 31 9,000 Expected sales volume (units), August 75,000 For each unit produced, the direct materials requirements are as follows: Material A ($5 per lb.) 3 lbs. Material B ($18 per lb.) 1/2 lb. The number of pounds of Materials A and B required for August production is a. 225,000 lbs. of A; 37,500 lbs. of B b. 234,000 lbs. of A; 39,000 lbs. of B c. 216,000 lbs. of A; 36,000 lbs. of B d. 216,000 lbs. of A; 72,000 lbs. of B
Answer: C) 216,000 lbs. of A; 36,000 lbs. of B
Explanation:
Given the following :
Estimated inventory (units), August 1, = 12,000 Desired inventory (units), August 31, = 9,000
Expected sales volume (units) = 75,000
Direct material requirement:
Material A ($5 per lb.) = 3 lbs
Material B ($18 per lb.) = 1/2 lbs
The number of pounds of material A and B required for August production :
Unit of product required for August production :
Expected sales volume + Ending inventory(August 31) - beginning inventory (August 1)
= 75000 + 9000 - 12000
84000 - 12000 = 72,000
Number of pounds required ;
Total Production unit × pounds per unit required
Material A:
72,000 × 3 = 216,000 pounds
Material B:
72,000 × (1/2) = 36,000 pounds
Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 135 units from beginning inventory and 265 units from the March 5 purchase; the March 29 sale consisted of 115 units from the March 18 purchase and 155 units from the March 25 purchase.
Answer:
gross profit:
under FIFO = $21,040under LIFO = $17,930under weighted average = $19,539.79under specific identification = $19,655Explanation:
Some information was missing, so I looked it up:
Date Activities Units Acquired Units Sold at Retail
Mar. 1 Beginning inv. 230 units at $53.60
Mar. 5 Purchase 290 units at $58.60
Mar. 9 Sales 400 units at $88.60
Mar. 18 Purchase 150 units at $63.60
Mar/ 25 Purchase 280 units at $65.60
Mar. 29 Sales 270 units at 90.60
Totals 950 units 670 units
ending inventory = 280 units
so COGS:
under FIFO = (230 x $53.60) + (290 x $58.60) + (150 x $63.60) = $38,862
under LIFO = (280 x $65.60) + (150 x $63.60) + (240 x $58.60) = $41,972
under weighted average = ($57,230 / 950) x 670 = $40,362.21
under specific identification = (135 x $53.60) + (265 x $58.60) + (115 x $63.60) + (155 x $65.60) = $40,247
total revenue = (400 x $88.60) + (270 x $90.60) = $35,440 + $24,462 = $59,902
gross profit:
under FIFO = $59,902 - $38,862 = $21,040
under LIFO = $59,902 - $41,972 = $17,930
under weighted average = $59,902 - $40,362.21 = $19,539.79
under specific identification = $59,902 - $40,247 = $19,655
Medeco sold goods for $100 to a charge customer. The customer returned for credit $25 worth of goods. Terms of the sale were 1/10,n/30. If the customer pays the amount owed within the discount period, what is the amount the customer should pay?
Answer: $74.25
Explanation:
Sale price of goods = $100
Worth of returned goods = $25
Term of sale = 1/10, n/30
Price if customer pays within the discount period equals :
Term of sale: 1% discount on price if the amount owed is paid within 10 days, else full amount is due in 30 days.
Actual price of goods purchased :
Goods purchased - worth of return
$100 - $25 = $75
Discount on price = 1% of $75
(1/ 100) × $75
0.01 × $75 = $0.75
Amount customer should pay:
$75 - $0.75 = $74.25
Q 11.35: Felix Incorporated has just exchanged 1,250 shares of $65 par-value preferred stock for a parcel of land advertised for a price of $90,000. If the current market value of the stock is $75 per share, how should Felix journalize this transaction
Answer:
Felix Incorporated
Exchange of Preferred Stock for Land:
Journal Entries:
Debit Land $90,000
Credit Preferred Stock $81,250
Credit Additional Paid-in Capital - Preferred Stock $8,750
To record the issue of 1,250 of $65 par-value preferred stock for land with a fair price of $90,000.
Explanation:
Felix Incorporated will debit Land with the fair price of $90,000 and Credit the Preferred Stock account with $81,250 (1,250 x $65) at par-value. The difference between the fair price of land and the preferred stock at par-value is credited to additional paid-in capital account for preferred stock. Felix Incorporated cannot take into account the current market value of the stock at $75 in its accounting records. The current share price of $75 is for the benefit of investors, and can only serve as basis for Felix Incorporated to decide transactions with potential investors.
A company pays an employee $3,000 for a five-day work week, monday–friday. the adjusting entry on december 31, which is a wednesday, is a debit to wages expense, $1,800, and a credit to wages payable, $1,800. true
Answer: True
Explanation:
From the question, we are told that a company pays an employee $3,000 for a five-day work week from Monday to Friday. This means that the employee receives a daily payment of ($3,000/5) = $600.
On Wednesday which is the third day, he will be paid ($600 × 3) = $1800. Therefore , the adjusting entry on December 31, which falls on a Wednesday will be to debit the wages expense, $1,800, and then credit to wages payable of $1,800.
Valley Designs issued a 90-day, 6% note for $60,000, dated April 22, to Bork Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note. July 21 b. Determine the maturity value of the note.
Answer:
a. 21 July
b. $30,900
Explanation:
a. The computation of due date of the note is shown below:-
= 8 + 31 + 30 + 21
= 21 July
b. The computation of maturity value of the note is shown below:-
Maturity value of the note = Principal + Interest
= $60,000 + ($60,000 × 6% × 90 ÷ 360)
= $30,000 + $450
= $30,900
Therefore we have applied the above formula.
Page 576 14.3. Recent Changes in Capitalism This animation explores different reasons why people work long hours even when their professional or financial situation would enable them to dial back. A key concept in this context is that of the opportunity cost of leisure. How is this concept best explained
Answer:
The summary including its perceived task is demonstrated in the following segment on the interpretation.
Explanation:
The further you pay, then you pass up to make a change from generating income. This would be called opportunity cost since taking a short break is losing the chance to go somewhere else (i.e. gain further extra cash).This is much less the continuation of something like a withheld opportunity than that of the recovery on the alternative you picked.Brodrick Company expects to produce 20,000 units for the year ending December 31. A flexible budget for 20,000 units of production reflects sales of $400,000; variable costs of $80,000; and fixed costs of $150,000. If the company instead produces and sells 26,000 units for the year, calculate the expected level of income from operations.
Answer:
For 20,000 units, we have 170,000
For 26,000 units, we have 266,000
Explanation:
Here, we are to calculate the expected level of income from operations.
Formulas that can come in handy from the table are;
Variable amount per unit = sales/number of units
contribution margin = Sales - Variable cost
Income from operations = Contribution margin - fixed cost
Please, kindly checked attached image for tabulated result calculations.
Write any two features of RTGS.
Features of RTGS Transaction
Realtime online fund transfer.
Used for high value transactions.
Safe and secure.
Reliable and backed by RBI.
Immediate clearing.
Funds credited on a one-on-one basis.
Transactions executed on an individual and gross basis.
investment spending includes spending on
Answer:
Investment spending is spending on goods to produce other goods. Investment spending includes the accumulation of new inventories. It also includes spending by households on new houses. ... Gross investment is the total spending on investment goods.
Explanation:
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