Answer:
a. Journal Entries:
July 1 Debit Accounts receivable, $72,960
Credit Fees Earned $72,960
To record fees earned.
July 4 Debit Supplies $1,900
Credit Accounts payable $1,900
To record supplies purchased on account.
July 8 Debit Cash $65,960
Credit Accounts receivable $65,960
To record cash received from customers on account.
July 11 Debit Accounts payable $840
Credit Cash $840
To record payment to creditors on account.
Cash
Date Account Titles Debit Credit
July 8 Accounts receivable $65,960
July 11 Accounts payable $840
Supplies
Date Account Titles Debit Credit
July 4 Accounts payable $1,900
Accounts Receivable
Date Account Titles Debit Credit
July 1 Fees Earned $72,960
July 8 Cash $65,960
Accounts Payable
Date Account Titles Debit Credit
July 4 Supplies $1,900
July 11 Cash $840
Fees Earned
Date Account Titles Debit Credit
July 1 Accounts receivable $72,960
c. If the unadjusted trial balance on July 31 shows a credit balance for Accounts Receivable, it means that an error has occurred, unless the cash received from customers on account exceeds the debit balance on the Accounts receivable. This will mean that some customers paid in advance for services not yet rendered. This credit balance needs to be transferred to the Deferred Revenue account.
Explanation:
a) Data and Calculations:
July 1 Accounts receivable, $72,960 Fees Earned $72,960
July 4 Supplies $1,900 Accounts payable $1,900
July 8 Cash $65,960 Accounts receivable $65,960
July 11 Accounts payable $840 Cash $840
Your design team wants some help with the design of a locally responsive product intended for the host. They wish to own all of the intellectual property rights, and minimize costs. You should:___________a) Greenfield - Open a design studio in the host location.b) Acquire a local design firm in the host.c) Merge with a design firm in the host.d) Enter into a JV with a firm in the host.e) Enter into a sponsored development agreement with an alliance partner in the host.f) None of the choices listed here.g) All of the Greenfield, Acquire, Merge, and JV choices will work fine.
Answer:
b) Acquire a local design firm in the host.
Explanation:
The limitations with related to the greenfield, sponsored, mergers and JVs is that they dont give any assurance of 100% control and the ownership should be considered for the intellectual property
Now if one could select for the acquistion purpose that means they have the overall control and the ownership
So the above should be the answer
The market for corn in Mexico has a large number of sellers and buyers, and there is no difference in the products sold by each seller. As a result, prices are determined by the Multiple Choice consumers that buy the corn. businesses that sell the corn. forces of supply and demand. agricultural industry.
Answer:
In this market, prices are determined by the
forces of supply and demand.
Explanation:
This Mexican corn market situation describes a perfectly competitive market structure. In a perfectly competitive market, firms face the following conditions: (1) there are many suppliers and many consumers; (2) with identical products; (3) all have relevant decision-making information; and (4) there are free entry and exit of firms. This makes it impossible for one seller or consumer to set prices of the corn.
what is the present value of $7500 per year, at a discounted rate of 7.1%, of the first payment is received 6 years from now and the last payment is received 25 years from now
Answer:
PV= $50,981.17
Explanation:
First, we need to calculate the future value at the end of the period:
FV= {A*[(1+i)^n-1]}/i
A= annual payment
FV= {7,500*[(1.071^19) - 1]} / 0.071
FV= $283,234.78
Now, the present value:
PV= FV/(1+i)^n
in this case n=25 years
PV= 283,234.78 / (1.071^25)
PV= $50,981.17
Construction Inc. contracts to buy some heavy equipment from Dig Machines Inc. Before either party performs, Dig sells its assets to Excavation Corporation. On learning of the sale, Construction is concerned about its contract with Dig. Construction should a. buy the equipment from a different firm and bill Excavation for the price. b. demand an assurance of performance from the seller. c. buy the equipment from a different firm and bill the seller for the price. d. consider the contract repudiated and sue the seller for breach.
Answer:
Option b: Demand assurances of performance from the seller
Explanation:
Right of assurance
This is simply done if a party has reasonable grounds to believe that the other party will not hold their own part of the deal, he or she may ask in writing that the other party give adequate assurance of performance . It is stated that If the second party does not provide reasonable assurance as demanded within 30 days, this failure will lead to repudiation of the contract and can be regarded as an anticipatory breach.
The process for requesting adequate assurance is divided into three reasonable grounds;
1. Reasonable grounds for insecurity
2. Demand for adequate assurances of performance
3. Failure to provide adequate assurance is a Repudiation
Excavation can have some dig assets. That doees not mean they purchase all their asset and even if they do, they did not even purchase the whole company. As the company can produce more, construction conc. should or can place a request across to dig to give assurance of performance.
A long-term period of economic recession that leads to a low GDP and very
high unemployment is a(n)
Answer:
Depression
Explanation:
A long-term period of the economic recession that leads to a low GDP and very high unemployment is a(n) DEPRESSION
Depression is an economic term used to describe a deep tumble in an economy that occurs for a long period of more than six months. Depression lasts for years, and it is characterized by low real GDP and an awfully high level of unemployment.
Hence, in this case, the right answer is Depression.
Dana has standard consumer preferences over two goods: hours spent watching football (W) and hours spent playing football (P). He is indifferent between the bundles: A=(2W,1P) and B=(1W,2P). He is offered a third bundle C=(1.5W,1.5P). Based on the preference assumptions, what might we say about Dana's preferences for C relative to A or B?A. Dana might prefer C to A, and C to B.B. Dana might prefer C to A, and A to B.C. Dana might prefer C to A, and B to C.D. Dana might prefer A to C, and B to C.E. Dana might be indifferent between C, A, and B.
Answer:
The correct option is Dana might be indifferent between C, A, and B.
Explanation:
Note: See the attached photo for the indifference curve showing points A, B and C.
The answer can be explained using an indifference curve.
An indifference curve is a graph that depicts the combination of two commodities that provide equal satisfaction or utility to the consumer. A consumer is indifferent between the two commodities at each point on an indifference curve because all points on the curve provide him with the same level of satisfaction or utility.
In the attached photo, bundles A, B and C are plotted as points on the same indifference curve (IC). Since points A, B and C are on the same IC, it therefore implies that Dana might be indifferent between C, A, and B.
Therefore, the correct option is Dana might be indifferent between C, A, and B.
The manager wants to advertise that anybody who isn't served within a certain number of minutes gets a free hamburger. But she doesn't want to give away free hamburgers to more than 1% of her customers. What number of minutes should the advertisement use
Answer:
0.99
Explanation:
According to the given question, we need just only1% of orders to take longer than the specified time.
So, proportion = 1%
= 1/100
= 0.01.
It's possible to write it as P( X ≥ a) 0.01
We are aware that total area = 1
As a result, if the 0.01 proportion of orders is more than a, then;
The remainder will be less than or equal to a (1 - 0.01 = 0.99).
Therefore, P(0 ≤ x ≤ a) = 0.99
The balance sheet of Sand Sportswear reports total equity of $500,000 and $650,000 at the beginning and end of the year, respectively. The return on equity for the year is 20%. What is Sand Sportswear's net income for the year?
a. $100,000.
b. $130,000.
c. $2,875,000.
d. $115,000.
Answer:
d. $115,000
Explanation:
The calculation of Sand Sportswear's net income for the year is as seen below;
Return on equity = Net income / Average total equity
Return on equity = 20%
Average total equity = ($500,000 + $650,000) / 2 = $575,000
Therefore,
Net income = Average total equity × Return on equity
Net income = $575,000 × 20%
Net income = $115,000
Describe the key stages in integrating total quality management into the strategy of an international petrochemical company
Answer:
Total quality management (TQM) describes a management approach to long-term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.Explanation:
If my answer is incorrect, pls correct me!
If you like my answer and explanation, mark me as brainliest!
If the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, this indicates that these two goods are _____ goods. Group of answer choices
Answer: substitute goods
Explanation:
Substitute goods refer to the goods that serves thesame purpose by the consumers. A common example is Coke and Pepsi.
For a substitute good, when the price of one of the goods increase, then there will be an increase in the demand of the other one as people will now but more of that good and lesser of its substitute that has a price increase.
In this case, when the price of chocolate-covered peanuts increases and the demand for strawberry licorice twists increases, then the goods are substitute goods.
Olinick Corporation is considering a project that would require an investment of $343,000 and would last for 8 years. The incremental cash inflows of the project per year at $107,000. The scrap value of the project's assets at the end of the project would be $23,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest to:___.a) 2.8 years.
b) 4.6 years.
c) 3.5 years.
d) 2.7 years.
Answer:
the payback period of the project is 3.20 years
Explanation:
The computation of the payback period of the project is shown below:
= Investment ÷ incremental cash inflows
= $343,000 ÷ $107,000
= 3.20 years
hence, the payback period of the project is 3.20 years
This is the answer but the same is not provided in the given options
Hence, the same should be considered
Customers arrive at a suburban ticket outlet at the rate of 14 per hour on Monday mornings. This can be described by a Poisson distribution. Selling the tickets and providing general information takes an average of 3 minutes per customer, and varies exponentially. There is 1 ticket agent on duty on Mondays. Determine each of the following:______________(A) system utilization.(B) average number in line.(C) average time in line.(D) average time in the system.
Answer:
Following are the solution to the given points:
Explanation:
When the arrival rate matches the distribution of Poisson, the rate of delivery varies exponentially as well as the server exists. The paradigm, therefore, is W/M/I, an exponential time interval concept, and one server.
Arrival rate [tex](\lambda) = 14\ per\ hour[/tex]
Service rate[tex]( \mu) =\frac{3\ minutes}{customer} = \frac{60 minutes (1 hour)}{3 minutes}= 20 \ \frac{customers}{hour}[/tex]
For point A:
System utilization[tex]=\frac{\lambda}{\mu}=\frac{14}{20}=0.7[/tex]
For point B:
Average number in line:
[tex](L_q )=\frac{\lambda^2}{\mu \times (\mu-\lambda)}\\\\=\frac{14^2}{20\times (20-14)}\\\\= 1.633[/tex]
For point C:
Average time in line:
[tex](W_q)=\frac{L_q}{\lambda}\\\\=\frac{1.633}{14} \ hours\\\\=\frac{1.633}{14} \times 60 \ minutes\\\\= 7\ minutes[/tex]
For point D:
Average time in the system:
[tex](W_s)=w_q+\frac{1}{\mu}\\\\=7\ minutes + \frac{1}{20} \ hours\\\\=7 \ minutes + \frac{60}{20} \ hours\\\\= 7 \ minutes + 3\ minutes\\\\= 10 \ minutes\\[/tex]
what are the marketing channel distribution strategy
Answer:
The three types of distribution channels are wholesalers, retailers, and direct-to-consumer sales. ... Retailers are generally the customers of the wholesalers and offer high-touch customer service to the end customers.
Galvatron Metals has a bond outstanding with a coupon rate of 6.3 percent and semiannual payments. The bond currently sells for $949 and matures in 25 years. The par value is $1,000 and the company's tax rate is 39 percent. What is the company's aftertax cost of debt
Answer:
The right response is "4.102%".
Explanation:
Given:
Number of half years,
n = [tex]25\times 2[/tex]
= [tex]50[/tex]
Coupon per half years,
c = [tex]1000\times \frac{6.3 \ percent}{2}[/tex]
= [tex]31.5[/tex]
Price,
pv = 949
Par value,
= 1000
Now,
The YTM will be:
= [tex]rate(n,c,-pv,fv)\times 2[/tex]
= [tex]rate(50,31.5,-949,1000)\times 2[/tex]
= [tex]6.724[/tex] (%)
hence,
After tax cost of debt will be:
= [tex]YTM\times (1-tax \ rate)[/tex]
= [tex]6.724\times (1-39)[/tex]
= [tex]4.102[/tex] (%)
recurring sale and purchase is the Hallmark of the business justify the answer
Answer:
Recurring or Repeated transaction of purchase and sale means business due to following reasons :-
》Incentivize your customers with points.
》Grow your customer base through referral programs.
》Improve customer retention with VIP programs.
》Create exclusive discounts for loyal customers.
》Use email retargeting to win customers back.
》Boost repeat purchases through personalized campaigns.
North Corp. EBIT is $200. It has a debt-equity ratio of 25% and a WACC of 16%. Debt interest is 12%. Without taxes, what is the value of the firm?
Answer:
Value of the firm = 25000
Explanation:
Use the below formula to find the value of firm.
Degree of Financial Leverage = EBIT / ( EBIT - Interest)
Degree of Financial Leverage = 0.25
0.25={200/ {200-Interests}
Interests amount = - 600
Interest amount = debt × Cost of Debts
Debt amount = Interest amount / Cost of Debt
Debt amount = - 600 / 0.12.
Debt amount = -5000
Now find the debt equity ratio:
Debt-equity ratio = debt / equity
Given Debt amount = 5000
0.25= 5000 / Equity
Equity =5 000 /0.25
The value of Equity = 20,000
Now, the value of the firm = Equity amount + Debt amount
The value of the firm = 20000 + 5000
The value of the firm = 25000
manufacturing costs for August when production was 1,000 units appear below: Direct material $12 per unit Direct labor $7,500 Variable overhead 6,000 Factory depreciation 9,000 Factory supervisory salaries 7,800 Other fixed factory costs 2,500 Compute the flexible budget manufacturing cost amount for a month when 900 units are produced.
Answer:
Total manufacturing Cost $42,250
Explanation:
The computation of the flexible budget manufacturing cost amount for a month when 900 units are produced is given below:
No. of units Produced 900 units
Direct material at $12 per unit $10,800
Direct labor (($7,500 ÷1,000) × 900) $6,750
Variable Overhead ($6,000 ÷ 1000) × 900 $5,400
Factory depreciation $9,000
Factory Supervisory salary $7,800
other fixed factory cost $2,500
Total manufacturing Cost $42,250
Comet Company accumulated the following account information for the year: Beginning raw materials inventory$5,200 Indirect materials cost 1,200 Indirect labor cost 4,200 Maintenance of factory equipment 2,000 Direct labor cost 6,200 Using the above information, total factory overhead costs would be:
Answer:
$7,400
Explanation:
Given the above information, the total factory overhead cost would be computed as;
Total factory overhead costs = Indirect materials + Indirect labor + Maintenance of factory equipment
= $1,200 + $4,200 + $2,000
= $7,400
Hence, the total factory overhead costs is $7,400
Valve is a company that makes world-class computer games such as Half-life, Counter-Strike, Dota 2, Team Fortress and creates world-leading game distributing platform known as Steam. This organization has been working boss-free which translates into “everyone is equal and managers don't exist” for years and still performs excellently on the digital game market. Here are some insights from its employees:
- “We're free to choose to work on whatever we think is interesting.”
- “We form into teams based on need to complete a feature or complete a game, and then we disperse into new teams.”
- “People ask you questions about what you are working on. And the response is not to get defensive but to have that conversation and make sure that we're all invested in each other.”
- “I think the fact that we're not managed by people and we're not managing people and you're able to formulate your own ideas and work with whoever it is to come up with a project or feature - that's empowering”
- “It's a community of respect and the best idea wins no matter who it comes from, whether they've been at Valve for a year or founded Valve.”
Use the knowledge you have earned to identify the type of organizational design of Valve. Explain how Departmentalization, Chain of command, Span of control and Formalization works in this organization
Answer:
Valve has a flat organizational structure. As a result, the following features of a hierarchical organization are turned upside down:
1. Departmentalization: Valve is not organized in departments but has dispersed teams that are freely formed based on need. Employees are free to choose the jobs that they do and the teams that they join based on their personal interests.
2. Chain of command: Valve lacks the strict chain of command that is visible in hierarchical organizations where instructions are issued from the top and reports are sent from the lower cadre to the upper echelon. Therefore, employees are not managed by others.
3. Span of control: Valve is recognized as a community of respect where the best idea wins without the observance of seniority.
4. Formalization: The working culture is informal and casual. This has enabled people at Valve to be invested in each other. Questions are freely asked to solicit and share ideas. There is self-discipline.
Explanation:
Valve, owned by CEO Gabe Newell, has created a model flat organization where managers are not prominent. There are no formal positions and no centralized plans. Even the CEO does not interfere in the daily management of the organization. Thus, decision-making is improved, and there is a high sense of personal responsibility by employees.
The following information is available for Baker Industries: Cost of goods manufactured $ 320,000 Beginning finished goods inventory 45,000 Ending finished goods inventory 35,000 Compute the cost of goods sold.
Answer:
Baker Industries
The Cost of goods sold for the period is:
= $330,000
Explanation:
a) Data and Calculations:
Cost of goods manufactured $ 320,000
Beginning finished goods inventory 45,000
Ending finished goods inventory 35,000
Cost of goods sold:
Beginning finished goods inventory $45,000
Cost of goods manufactured 320,000
Ending finished goods inventory (35,000)
Cost of goods sold = $330,000
A firm is offered credit terms of 2/10 net 45 by most of its suppliers. The firm also has a credit line available at a local bank at an interest rate of 12 percent. What is the cost of giving up the cash discount
Answer:
21.28%
Explanation:
Note: Assuming 365 day year
Cost of giving up cash discount = [Discount rate / (1-Discount rate)] * 365 / [Credit period - Discount period]
Cost of giving up cash discount = [0.02/(1-0.02)] * [365/(45-10)]
Cost of giving up cash discount = [0.02/0.98] * [365/35]
Cost of giving up cash discount = 0.0204082 * 10.42857
Cost of giving up cash discount = 0.212828
Cost of giving up cash discount = 21.28%
draw five sector of macroeconomic model
Answer:
Here's my Macroeconomic model.
Explanation:
Thus, the five-sector model includes (1) households, (2) firms, (3) government, (4) the rest of the world, and (5) the financial sector. The financial sector includes banks and non-bank intermediaries that engage in borrowing (savings from households) and lending (investments in firms).
At December 31, before adjusting and closing the accounts had occurred, the Allowance for Doubtful Accounts of Seaboard Corporation showed a debit balance of $3,200. An aging of the accounts receivable indicated the amount probably uncollectible to be $2,100. Given this information, write the year-end adjusting entry for Seaboard Corporation in Journal Entry format.
Answer:
Debit to Uncollectible Accounts Expense of $5,300.
Explanation:
Based on the information given the year-end adjusting entry for Seaboard Corporation in Journal Entry format will be DEBIT TO UNCOLLECTIBLE ACCOUNTS EXPENSES OF $5,300.
Uncollectible Accounts Expense=Allowance for Doubtful Accounts +Accounts receivable Uncollectible
Uncollectible Accounts Expense=$3,200+$2,100
Uncollectible Accounts Expense=$5,300
what dose gpa and sras stand for
Answer:
gross demestic product and short-run aggregate supply
Explanation:
gpa:The GDP is the total of all value added created in an economy.
SRAS: aggregate supply in the short run (SRAS) is best defined as the total production of goods and services available in an economy at different price levels
Following is the sales budget for Coore, Inc., for the first quarter of 2019.
January February March
Sales budget $168,000 $186,000 $199,000
Credit sales are collected as follows:
65 percent in the month of the sale.
20 percent in the month after the sale.
15 percent in the second month after the sale.
The accounts receivable balance at the end of the previous quarter was $107,000 ($78,100 of which was uncollected December sales)
Requried:
a. Compute the sales for November.
b. Compute the sales for December.
c. Compute the cash collections from sales for each month from January through March.
Answer:
a. Sales for November = $192,666.67
b. Sales for December = $312,400,00
c. Total cash collections are as follows:
January = $200,580
February = $201,360
March = $191,750
Explanation:
a. Compute the sales for November.
Sales for November = (Accounts receivable balance at the end of the previous quarter - Uncollected sales from December) / Collection rate two months after the sale = ($107,000 - $78,100) / 15% = $192,666.67
b. Compute the sales for December.
Sales for December = Uncollected sales from December / (Collection rate one months after the sale + Collection rate two months after the sale) = $78,100 / (10% + 15%) = $312,400,00
c. Compute the cash collections from sales for each month from January through March.
Note: See the attached excel file for the schedule of cash collections from sales for each month from January through March.
From the attached excel file, total cash collections are as follows:
January = $200,580
February = $201,360
March = $191,750
Plethora Farms purchased a greenhouse for $52,700. Delivery costs totaled $1,825 and handling costs were $3,000. The useful life is 10 years and the salvage value is $14,050. Using the straight-line depreciation method, calculate the book value at the end of year 4. Group of answer choices $31,256 $58,000 $22,000 $40,135
Answer:
$40,135
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
Cost of the asset =purchase cost + delivery cost + handling cost
$52,700 + $1,825 + $3,000 = $57,525
depreciation expense = ($57,525 - $14,050) / 10 = $4,347.50
book value at the end of year 4 = cost of the asset - accumulated depreciation
Accumulated depreciation = $4,347.50 x 4 = $17,390
Book value = $57,525 - $17,390 = $40,135
Fund financial statements have separate columns for each activity. Which activities are reported in this manner
Answer: See explanation
Explanation:
Fund financial statements are the statements whereby the information about major funds are presented individually. The funds will then be reported based on the basis of accounting that is required for that particular fund type.
For the governmental funds, it should be noted that there'll be a separate column for
(a) the General Fund
(b) any other fund which qualifies as major
(c) all the remaining funds that are accumulated as a whole.
Examples of mangers organizing
Answer:
hehehehheeh3h3hhehh3h3h3h3hh3hhehhehe
On September 1, Home Store sells a mower (that costs $120) for $420 cash with a one-year warranty that covers parts. Warranty expense is estimated at 6% of sales. On January 24 of the following year, the mower is brought in for repairs covered under the warranty requiring $29 in materials taken from the Repair Parts Inventory.
Required:
Prepare the September 1 entry to record the mower sale (and cost of sale) and the January 24 entry to record the warranty repairs.
Answer: See explanation
Explanation:
The entry is prepared below:
Sep-01
Dr Cash $420
Cr Sales revenue $420
(To record the mower sales)
Sep-01
Dr Cost of goods sold $120
Cr Finished goods inventory $120
(To record the cost of mower sales)
Sep-01
Dr Warranty expense (6% x $420) = $25.20
Cr Warranty liability $25.20
(To record the estimated warranty expense)
Jan-24
Dr Warranty liability $29
Cr Repair parts inventory $29
(To record the cost of warranty repairs)
Mark, a college sophomore, is unsure of his career choice. He was majoring in technology, but he had an internship in computer programming last year and was bored to tears. He felt the internship was a failure. If he came to you, a human resource professional, for advice, which would you tell him
Answer and Explanation:
Since in the given situation it is mentioned that Mark felt that internship was a failure so he wants to considered an internship in the different area of the filed in order to get more ideas. Also, he should think for skills testing and interest on the O ×NET website where he get to know what is the interest of his work or the work he wants to try
So the same is relevant