Answer:
Any written evidence in support of a business transaction is called Voucher. Vouchers are the primary evidence of business transactions having taken place.
Explanation:
If Paul’s children run a lemonade stand for a day and sell 400 glasses of lemonade at $1.00 each, their total revenues are
a. $200.
b. $800.
c. $400.
d. $1.00.
Answer:
c
Explanation:
Because 400 × $1.00 = $400
Jessica purchased a home on January 1, 2021, for $500,000 by making a down payment of $200,000 and financing the remaining $300,000 with a loan, secured by the residence, at 6 percent. During 2021 and 2022, Jessica made interest-only payments on this loan of $18,000 (each year). On July 1, 2021, when her home was worth $500,000, Jessica borrowed an additional $125,000 secured by the home at an interest rate of 8 percent. During 2021, she made interest-only payments on the second loan in the amount of $5,000. During 2022, she made interest-only payments on the second loan in the amount of $10,000. What is the maximum amount of the $28,000 interest expense Jessica paid during 2022 that she may deduct as an itemized deduction if she used the proceeds of the second loan to finish the basement in her home and landscape her yard
Since Jessica used the proceeds of the second loan to improve her acquired home, the two debts are counted as acquisition indebtedness, and she can deduct $28,000 as an itemized deduction for mortgage interest expense.
Data and Calculations:
Home Purchase on January 1, 2021 = $500,000
Down payment made $200,000
Mortgage financing obtained = $300,000
Mortgage interest rate = 6%
Interest-only payments in 2021 and 2022 = $18,000 ($300,000 x 6%) each
Additional mortgage on July 1, 2021 = $125,000
Interest rate for the second mortgage = 8%
Interest-only payment in 2021 = $5,000 ($125,000 x 8% x 6/12)
Interest-only payment in 2022 = $10,000 ($125,000 x 8%)
Total interest-only payment in 2022 = $28,000 ($18,000 +$10,000)
Question Options:
a. $0
b. $10,000
c. $26,353
d. $26,000
e. $28,000
Thus, the maximum amount that Jessica may deduct as an itemized deduction is $28,000.
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The RRR is 20%. Total demand deposits in the economy equal $2 billion. Banks in the economy are fully lent up (i.e., are holding no excess reserves). The Fed then lowers the RRR to 10%. As a result, the money supply, assuming that banks continue to be fully lent up and that there are no cash leaks, shall __________________ . (Hint: First calculate bank's cash reserves as 20% of $2 billion
This tells us that if there are no cash leaks there would be a rise by 2 billion dollars in the money supply.
The total demand deposit = 2 billion dollars
The RRR is said to be = 20%
This is now = 10%.
20% of 2billion =
[tex]\frac{20}{100} *2000000000\\\\= 400million[/tex]
10% of 2billion = 200 million.
The excess = 400m - 200m
= 200m
The money = 200*1/0.10
= 2 billion dollars.
10% is kept while 90% is lent out compared to before when 20% was kept and 80% lent out.
Former multiplier = 1/0.20 = 5
Multiplier now = 1/0.10 = 10.
This tells us that if there are no cash leaks there would be a rise by 2 billion dollars in the money supply.
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Is foreign employment good or bad for Nepal?
They are good for employment
It has an immediate benefit but it is not beneficial for a long term of the Nepalese labour and sweat is being used in foreign countries and there is scarcity of human power for the development of our own country
Arturo makes and sells organic frozen yogurt with fresh fruit toppings. He wants to price discriminate according to a preference for organic food so that those with the most inelastic demand for organic food pay the highest price. To accomplish this, to which group should he give discount coupons for his yogurt
To accomplish his price discrimination, Arturo should give discount coupons for his yogurt to D. Students at the local art school.
Price discrimination will help Arturo charge the highest price to those who prefer organic food because they exhibit inelastic demand. They include members of the local organic food cooperation, people who come to the community's weekly farmer's market, and customers of the local fast-food restaurant.
Thus, students at the local art school require lowered prices to patronize Arturo's organic frozen yogurt.
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Answer:
B. Customers of the local fast-food restaurant
Explanation:
Inelastic demand is when a buyer's demand for a product does not change as much as its change in price.
Answer choices:
A. Members of the local organic food co-op
B. Customers of the local fast-food restaurant
C. Students at the local art school
D. People who come to the community's weekly farmer's market
A. Members of the local organic food co-op and D. People who come to the community's weekly farmer's market are similar. If people are already buying organic foods, they are more likely to be elastic when the price changes meaning they will find a substitute.
C. Students at the local art school is incorrect because the students would look for substitutes when the price increases after discounts.
B. Customers of the local fast-food restaurant is the most likely group to keep buying the organic yogurt to stay healthy even when the price increases.
You have recently been promoted to General Manager at Creekview Lodge, a 50 room hotel in Gatlinburg, Tennessee. You started working at the lodge in high school in the restaurant and after college, returned to Creekview as one of the assistant managers before being promoted to hotel manager. Recently, a 200-room hotel opened not far from Creekview Lodge, and although Creekview still maintains near 100% capacity there has been quite a bit of turnover. More than ten employees left to work for the larger hotel which boasted higher pay and better health insurance.
You were informed this morning by the front desk team that the latest customer survey results show a drop in the satisfaction rating for guest room cleanliness. The current report indicates that 73% of guests responded "completely satisfied", 12% responded "satisfied", 10% responded "neither satisfied nor unsatisfied", and 5% responded "unsatisfied." The housekeeping staff lost four employees to the new hotel, so although disappointed, you aren’t surprised by this news. Still, you could not remember a time that the hotel had received such a low satisfaction rating.
As manager of Creekview Lodge, what is your next step in addressing the problem?
a. Take immediate action and require that all rooms be inspected by the hotel manager (you) or an assistant manager before being made available to customers
b. Review the standards of performance and compare to current performance
As the manager of Creekview Lodge, the next step will simply be to B. Review the standards of performance and compare them to current performance.
From the information given, it was stated that the latest customer survey results show a drop in the satisfaction rating for guest room cleanliness and that several staffs were lost to other companies.
Therefore, it's important to review the standards of performance and compare them to current performance. This will be vital in understanding the various issues that are affecting the company and then addressing them accordingly.
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The following items were selected from among the transactions completed by Sherwood Co. during the current year:
Mar. 1 Purchased merchandise on account from Kirkwood Co., $225,000, terms n/30.
31 Issued a 30-day, 8% note for $225,000 to Kirkwood Co., on account.
Apr. 30 Paid Kirkwood Co. the amount owed on the note of March 31.
Jun. 1 Borrowed $600,000 from Triple Creek Bank, issuing a 45-day, 6% note.
Jul. 1 Purchased tools by issuing a $50,000, 60-day note to Poulin Co., which discounted the note at the rate of 6%.
16 Paid Triple Creek Bank the interest due on the note of June 1 and renewed the loan by issuing a new 30-day, 7% note for $600,000. (Journalize both the debit and credit to the notes payable account.)
Aug. 15 Paid Triple Creek Bank the amount due on the note of July 16.
30 Paid Poulin Co. the amount due on the note of July 1.
Dec. 1 Purchased equipment from Greenwood Co. for $280,000, paying $80,000 cash and issuing a series of ten 9% notes for $20,000 each, coming due at 30-day intervals.
22 Settled a product liability lawsuit with a customer for $40,000, payable in January. Accrued the loss in a litigation claims payable account.
31 Paid the amount due to Greenwood Co. on the first note in the series issued on December 1.
Required:
1. Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year.
2. Journalize the adjusting entry for each of the following accrued expenses at the end of the current year (refer to the Chart of Accounts for exact wording of account titles):
a. Product warranty cost, $65,000.
b. Interest on the nine remaining notes owed to Greenwood Co. Assume a 360-day year.
Completing the recording of the transactions in Sherwood Co. is as follows:
Mar. 1 Debit Inventory $225,000
Credit Accounts Payable (Kirkwood Co.) $225,000
To record the purchase of goods on account, terms n/30.Mar. 31 Debit Accounts Payable (Kirkwood Co.) $225,000
Credit Notes Payable (Kirkwood) $225,000
To record the issuance of a 30-day, 8% note on account.
Apr. 30 Debit Notes Payable (Kirkwood) $225,000
Debit Interest Expense $1,500
Credit Cash $226,500
To record payment on note payable with interest.Jun. 1 Debit Cash $600,000
Credit 6% Notes Payable (Triple Creek Bank) $600,000
To record loan from bank on a 45-day, 6% note.Jul. 1 Debit Equipment $50,000
Credit Notes Payable (Poulin Co.) $50,000
To record purchase of tools with 60-day note.
Jul. 16 Debit Interest Expense $4,500
Credit Cash $4,500
To record the payment of interest expense.Debit 6% Notes Payable (Triple Creek Bank) $600,000
Credit 7% Notes Payable (Triple Creek Bank) $600,000
To record the renewal of notes payable with 7% notes.Aug. 15 Debit 7% Notes Payable (Triple Creek Bank) $600,000
Debit Interest Expense $3,500
Credit Cash $603,500
To record payment on account with interest.Aug. 30 Debit Notes Payable (Poulin Co.) $50,000
Credit Cash $50,000
To record payment on account.Dec. 1 Debit Equipment $280,000
Credit 9% Notes Payable $200,000 (Greenwood Co.)
Credit Cash $80,000
To record the purchase of equipment with notes and cash.
Dec. 22 Debit Litigation Loss $40,000
Credit Litigation Claims Payable $40,000
To record the settlement of a product liability lawsuit.Dec. 31 Debit Notes Payable (Greenwood Co.) $20,000
Debit Interest Expense $1,500
Credit Cash $21,500
To record first payment on account with interest.Adjustments:
a. Debit Product Warranty Expense $65,000
Credit Warranty Liability $65,000
To record product warranty expense.b. Debit Interest Expense $13,500
Credit Interest Payable $13,500
To accrue interest for the nine remaining notes.Data Analysis:
Mar. 1 Inventory $225,000 Accounts Payable (Kirkwood Co.) $225,000 terms n/30.
Mar. 31 Accounts Payable (Kirkwood Co.) $225,000 Notes Payable (Kirkwood) $225,000 30-day, 8% note
Apr. 30 Notes Payable (Kirkwood) $225,000 Interest Expense $1,500 Cash $226,500
Jun. 1 Cash $600,000 6% Notes Payable (Triple Creek Bank) $600,000
a 45-day, 6% note.
Jul. 1 Equipment $50,000 Notes Payable (Poulin Co.) $50,000
60-day note to Poulin Co., which discounted the note at the rate of 6%.
Jul. 16 Interest Expense $4,500 Cash $4,500 7% Notes Payable (Triple Creek Bank) $600,000 6% Notes Payable (Triple Creek Bank) $600,000
Aug. 15 7% Notes Payable (Triple Creek Bank) $600,000 Interest Expense $3,500 Cash $603,500
Aug. 30 Notes Payable (Poulin Co.) $50,000 Cash $50,000
Dec. 1 Equipment $280,000 9% Notes Payable $200,000 (Greenwood Co.) Cash $80,000
Dec. 22 Litigation Loss $40,000 Litigation Claims Payable $40,000
Dec. 31 Notes Payable (Greenwood Co.) $20,000 Interest Expense $1,500 Cash $21,500
Adjustments:
a. Product Warranty Expense $65,000 Warranty Liability $65,000
b. Interest Expense $13,500 Interest Payable $13,500
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When she was starting Camp Bow Wow, Heidi Ganahl, the CEO, had a decision to make. To what extent should she wire her facilities to allow dog owners to see what their dogs were doing on the Internet
Answer:
Little or very minimal
Explanation:
she should only wire her facility to the point where she can control what is being broadcasted to the internet
She wires her facilities to allow dog owners to see what their dogs were doing on the Internet, with little or very minimal
What are owners?The term owners state one who has the legal or rightful title to something: one to whom the property belongs in business, property owners. He and his sister are the owners of the restaurant. There are some different types of owners who are also there in it. As we see, there are some partners who are also there in the owners as well. By the owners, things are also been changed.
As she was starting Camp Bow Wow, Heidi GANIL, the CEO, had the decision to make She wires her facilities to allow dog owners to see what their dogs were doing on the Internet, Little or very minimal as she wanted to make the things are being also on the internet been seen.
Therefore, the conclusion is that She wires her facilities to allow dog owners to see what their dogs were doing on the Internet, with little or very minimal
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#SPJ2
Label each of the statements as either true or false. Each label can be used more than once.
a. Informative advertising can include information about price, quality, and/or availability.
b. When a company spends a lot on advertising it is signaling that it expects that its product will be successful in the marketplace.
c. Advertising as part of the product includes information about price, quality, and availability.
d. Advertising as part of the product is used to persuade us to consume the good or service with little or no information about the product.
It is true that informational advertising can include information about price, quality and availability, as this type of advertising aims to inform the customer about the product's characteristics.
When a company spends a lot on advertising, it is a sign that it expects its product to be successful in the market, as advertising is capable of boosting a product, generating a desire to buy and creating value for the product.
Advertising as part of the product includes information on price, quality and availability and is characterized as informational advertising.
Advertising as part of the product is used to persuade us to consume the good or service with relevant information about the product, so that the consumer knows its features and benefits, and decides to make the purchase.
So the options are:
a. TB. Tc. Td. FLearn more here:
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A jeans maker is designing a new line of jeans. These jeans will sell for $410 per unit and cost $328 per unit in variable costs to make. Fixed costs total $120,000. The contribution margin ratio is:
Based on the fixed costs and the variable costs, the contribution margin ratio is 20%.
The Contribution margin is calculated as:
= Selling price - Variable costs
= 410 - 328
= $82
The Contribution margin ratio is:
= Contribution margin / Selling price
= 82 / 410 x 100%
= 20%
In conclusion, the contribution margin ratio is 20%.
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How does changes in the market for new cars impact the market for second-hand cars? (9 marks)
Help me answer this
The global used cars market was valued at $828.24 billion in 2019, and is projected to reach $1,355.15 billion by 2027, registering a CAGR of 8.3% from 2020 to 2027. By vehicle type, the SUV segment was the highest revenue contributor in 2019, accounting for $338.61 billion, and is estimated to reach $533.39 billion by 2027, registering a CAGR of 7.80% during the forecast period
Discuss the difference between the income statement of Variable and absorption costing.
ở mỹ nổi lên một nhà triệu phú nổi tiếng về kỹ nghệ da mèo chiến lược mèo xơi chuột chuột xơi mèo
Which of the following statements is TRUE?
O The interest rate on your savings account will remain the same as long as you keep the account open.
O You can choose the interest rate on your savings account, but only once per year. O The interest rate on your savings account will vary over time and be set by the bank.
O The interest rate on your savings account will vary over time and be set by the government.
Answer:
Third one....The interest rate on your savings account will vary over time and be set by the government
Earn interest at a norminal rate.
A break-even analysis includes operating expenses and total monthly debt payments,
plus
school costs.
O gross profit margin.
Ihr
net profit margin.
zero term margin.
Answer:
Gross profit margin.
Explanation:
Break-Even Analysis enables a business to know how much cash it has under given situations by helping it know how much sales it needs in order to have a certain amount of cash.
It is calculated by the formula;
(Operating Expenses + Annual Debt Service)/Gross Profit Margin = Break-Even Sales
Operating Expenses in this equation is net of Depreciation as depreciation is a non-cash expense.
EXPLAIN HOW IMPORTANT MOTIVATION IN AN ORGANIZATION
Answer:
Motivation is a human factor in management. Motivation represents the willingness of an individual to put his efforts in a particular direction so as to achieve his goals. Motivation is what makes people perform or do the things
Skinner Baking Company is ready to launch a coffeecake line under the Skinner Baking 108 label. Which condition for favorable branding will likely be easiest for Skinner Baking Company to achieve
Answer:
Hybrid bikes
Explanation:
Which option helps minimize costs in a project?
O A. adjusting resources
OB. indentifying resources
Oc.
eliminating resources
OD. gathering resources
Answer:
c
Explanation:
po ang tamang sagon po
A negative attitude can lead to
O more completed work
O high turnover
O better work environment
O fewer conflicts between employees
Negative attitude can lead to high turnover
help pls What is one course of action available in every decision making process?
a.
Respond in a way which will have only positive consequences
b.
Respond in a way which will have no negative consequences
c.
Choose to do nothing about the issue
d.
None of the above
Answer:
answer is c
Explanation:
4. Will Juan Carlos meet his $4,000 goal for every year in college with this plan? Explain your .
With this plan, Juan Carlos will not meet his goal because with this plan he can save only $2400.
Based on the information about the plan, let's calculate how much will Juan Carlos save.
Important information:
Money Juan Carlos saves per hour: $10 Number of hours per week: 20 hoursTotal of money every week: $200We also know he will work during the summer that is 12 weeks.
$200 x 12 weeks = $2400
This means the total of money he can save is $2400 and therefore he can't save $4000 by using that plan.
Note: This question is incomplete because information about the plan is missing, here is the missing information.
Juan Carlos words 20 hours/week during the summer, 0 hours/week during the school year, but saves 100% of his income.There are 40 weeks in a school year and 12 weeks of summer. Assum Juan Carlos makes $10/hrLearn more in: https://brainly.com/question/25192498
Most people do not select a place of residence based on: A. lifestyle B. needs C. values. D.attitudes E. credit score
It is generally uncommon for people to decide a place of residence based on E. credit score
When people look for places to stay, they think about their:
Lifestyle and what house it suits that Their needs from a place Their values and whether the place would support them Attitudes towards what kind of place they should livePeople only think about the credit score when it comes to paying the rent of the place or being able to buy it. It is generally not a factor when selecting a place of residence initially.
In conclusion, most people do not select residence based on credit score.
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Options for dealing with uncertainty include using safety ________. Inventory and demand Demand and stock Lead time and inventory Stock and lead time
When one experiences uncertainty in business, one way they can deal with it is by using safety stock and lead time.
Safety stock and lead time:
Allow for goods to arrive earlier than they normally would have so as to avoid delays Allows for goods to be stored to satisfy an unplanned increase in demandBy doing these things, safety lead time and safety stock ensure that a company can deal with stock uncertainty such that they will have enough to sell to people.
In conclusion, one can deal with uncertainty through the use of safety lead time and stock.
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How can a bank help Millennial and Gen Z consumers plan to start a family?
A bank can help Millennial and Gen Z consumers to plan to start a family by:
Giving out mortgage loans to themAccording to the given question, we are asked to show the role a bank can play in helping Millennials and Gen Z generations to start their own family.
As a result of this, we can see that Millennials are people who are considered to be within the age bracket of 25-40, while Gen Z are people who are considered to have been born during the social media and internet age and are usually between the ages of 24 and below.
With this in mind, Millennials have likely started up their own family and the Gen Z are likely just coming out of college. Hence, a bank can help both generations to start up their family by giving them mortgage loans and other financial benefits.
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Whats the best Kool-aid packit
Answer:
ik this doesnt help, but there all gross in my opinion sry lol
Explanation:
Answer:
lemonade grape red white and blue and blue raseberry
Explanation:
Use Apple’s financial statements in Appendix A to answer the following. Required: 1. Is Apple’s statement of cash flows prepared under the direct method or the indirect method? 2. For each fiscal year 2019, 2018, and 2017, identify the amount of cash provided by operating activities and cash paid for dividends. 3. In 2019, did Apple have sufficient cash flows from operations to pay dividends? 4. Did Apple spend more or less cash to repurchase common stock in 2019 versus 2018?
Apple’s statement of cash flows was prepared under the indirect method. This was because the net income approach was used.
Based on the complete information, the amount of cash provided by operating activities and cash paid for dividends for the fiscal years will be:
Cash provided = 63598, 65824, and 81266.Payments of dividend = 12769, 12150, and 11561.In 2019, Apple had sufficient cash flows from operations to pay dividends. It had surplus cash after the dividend was paid.
Lastly, Apple spent more cash to repurchase common stock in 2019.
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Answer:
Explanation:
Apple’s statement of cash flows was prepared under the indirect method. This was because the net income approach was used.
Based on the complete information, the amount of cash provided by operating activities and cash paid for dividends for the fiscal years will be:
Cash provided = 63598, 65824, and 81266.
Payments of dividend = 12769, 12150, and 11561.
In 2019, Apple had sufficient cash flows from operations to pay dividends. It had surplus cash after the dividend was paid.
Lastly, Apple spent more cash to repurchase common stock in 2019.
In order to compare and evaluate choices, there must be a set of
a. Resources
b. Decisions
C. Consequences
d. None of the above
Please select the best answer from the choices provided
Credit score is used to determine your financial worth ?
Answer:
Explanation:
I live in Canada.
I have been told that my credit score is quite high. That's because I don't live beyond what I can pay for with this month's paycheck. I don't think anyone would judge my net worth by my credit score. In fact, bank loans won't think of stopping at credit rating. They (in Canada at least) would never think of giving out a loan whose repayment per month exceeded 1/3 of my paycheck.
Maybe I just have a tough bank, but I certainly agree with their policy.
Minor Corporation purchases 5,000 shares of its $4 par common stock at $7 per share and also has an outstanding loan of $100,000.
Under the provisions of the contract of the loan, Minor is required to maintain 25% of the balance of the loan in retained earnings at
all times. What is the current minimum retained earnings restriction for the company?
O $40,000
O $45,000
O $60,000
O $0
The current minimum retained earnings restriction for the company is $60,000
Restriction of retained earnings for Loan = Outstanding loan * % of maintained balance
Restriction of retained earnings for Loan = $100,000 * 25%
Restriction of retained earnings for Loan = $25,000
Restriction of retained earnings for treasury Stock = Purchased shares * $7 per share
Restriction of retained earnings for treasury Stock = 5000 shares * $7
Restriction of retained earnings for treasury Stock = $35,000
Current Minimum retained earnings restriction = Restriction of retained earnings for Loan + Restriction of retained earnings for treasury Stock
Current Minimum retained earnings restriction = $25,000 + $35,000
Current Minimum retained earnings restriction = $60,000
Therefore, the Option C is correct because current minimum retained earnings restriction for the company is $60,000
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In selling a house, Matt, a licensed realtor, tells Ann that the wiring, fixtures, and ap-pliances are of a certain quality. Matt knows nothing about the quality, but it is not as specified. Ann buys the house. On learning the true quality, Ann confronts Matt. He says he was not trying to fool her; he was only trying to make a sale. Can she rescind the deal