After taking Test #1, determine what your current grade is in the course by finding your current percentage earned (see Grades). Remember that I use a traditional grading scale, so if you have earned at least 90% you currently have an "A" in the class, somewhere between 80% and 89% is a "B", etc. In a brief informal paper, reflect upon whether you are happy with your current grade. If you are happy with your grade, discuss what you have done that has contributed to your success in this course. If you are unhappy with your grade, reflect on what specific actions you need to do in the future to help raise your grade in the course (do not just say that you need to study more). Your file options are limited to: doc, pdf, rtf or docx. Upload your reflection as an attachment below.
Answers
Based on the information provided, you can determine your current grade in the course by calculating your percentage earned after taking Test #1. If you have earned at least 90%, you currently have an "A" in the class. If your percentage falls between 80% and 89%, you have a "B", and so on.
If you are happy with your current grade, you can reflect upon the actions that have contributed to your success in this course.
If you are unhappy with your grade, it is important to reflect on specific actions you can take in the future to help raise your grade. Simply stating that you need to study more is not enough.
Remember to upload your reflection as an attachment in either doc, pdf, rtf, or docx format.
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Related Questions
When dealing with customers face-to-face, a good customer service technique is to:
Use a positive tone of voice
Maintain eye contact
Actively Listen
Answers
The correct option is B i.e., When dealing with customers face-to-face, a good customer service technique is to maintain eye contact.
What does "customer" mean to you?An individual or business that purchases goods or services from another company is known as a customer. Consumers are crucial to businesses because they generate income; without them, they would cease to exist.
What three roles do customers play?Any marketplace transaction necessitates the participation of at least three client roles: purchasing, which entails making a decision on a good or service; paying for it; and utilizing it. So, a customer can be a user or consumer as well as a buyer or payment.
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Suppose a company will issue new 20-year debt with a par value of $1,000 and a coupon rate of 8%, paid annually. The issue price will be $1,000. The tax rate is 35%. If the flotation cost is 2% of the issue proceeds, then what is the after-tax cost of debt? Disregard the tax shield from the amortization of flotation costs. Round your answer to two decimal places. % What if the flotation costs were 11% of the bond issue? Round your answer to two decimal places. %
Answers
Answer:
if the flotation costs were 2%, the after-tax cost of debt is 5.10%
if the flotation costs were 11%, the after-tax cost of debt is 4.63 %
Explanation:
After-tax cost of debt = Market Interest × ( 1 - tax rate)
Calculation of the Market Interest
Hint : Use the time value of money principles
Pv = -$1,000
Pmt = $1,000 × 8 % = $80
P/yr = 1
N = 20
Fv = $1,000
YTM = ?
Using a financial calculator, the market interest is 8%
After-tax cost of debt = Market Interest × ( 1 - tax rate)
= 0.08 × (1- 0.35)
= 0.052 or 5.20 %
If Flotation cost is 2%
Net Receipts after flotation cost = Cost × ( 1 - flotation rate)
= 5.20 % × (1-0.02)
= 5.096 % or 5.10% (two decimal places)
If Flotation cost is 11%
Net Receipts after flotation cost = Cost × ( 1 - flotation rate)
= 5.20 % × (1-0.11)
= 4.628 % or 4.63 % (two decimal places)
Laurel contributed equipment worth $200,000, purchased 10 months ago for $250,000 cash and used in her sole proprietorship, to Sand Creek LLC in exchange for a 15 percent profits and capital interest in the LLC. Laurel agreed to guarantee all $15,000 of Sand Creek’s accounts payable, but she did not guarantee any portion of the $100,000 nonrecourse mortgage securing Sand Creek’s office building. Other than the accounts payable and mortgage, Sand Creek does not owe any debts to other creditors.a. What is Laurel’s initial tax basis in her LLC interest?
b. Laurel’s holding period in the partnership interest begins the day the LLC interest is acquired. True or False?c. What is Sand Creek’s initial basis in the contributed property?
d. What is Sand Creek’s holding period in the contributed property?
Answers
Answer:
A. $280,000
B. TRUE
C. $250,000
D. 10 MONTHS
Explanation:
a. Calculation for the initial tax basis of Laurel’s
Using this formula
Initial tax basis=Equipment Basis +Accounts payable+Nonrecourse mortgage
Let plug in the formula
Initial tax basis= $250,000+ $15,000+(15%*$100,000 )
Initial tax basis=$250,000+ $15,000+$15,000
Initial tax basis= $280,000
Therefore the Initial tax basis will be $280,000
b. TRUE. The holding period begins or start the day the interest was acquired reason been that the equipment which is the asset that Laurel contributed is not in anyway a capital.
c. Based on the information given the initial basis in the property that was contributed will be the amount of $250,000
d. Based on the information given the holding period in the property that was contributed is 10 MONTHS reason been that we were told that the equipment which Laurel contributed was worth the amount of $200,000 which was purchased 10 MONTHS ago for the amount of $250,000 to Creek LLC for the exchange of profit as well as the capital interest in the LLC of 15% .
for a single-price monopoly, marginal revenue is group of answer choices a and b less than price for all units of output after the first unit. horizontal. greater than price. equal to price for the first unit of output.
Answers
Under the price for each output quantity (P > MR). As a result, for a monopolist, the marginal curve of revenue is lower than the demand curve.
What exactly is a monopolist?A monopolist is an individual, collective, or organization that prevails and controls a specific market for a good or service. Because there is no competition and no substitute goods or services, the monopolist has enough market power to charge high prices.
What is a monopolist example?A monopoly is a company that is the single seller of the its product and has no close substitutes. An unregulated monopoly wields market power and has the ability to influence prices. Examples include Microsoft and Window frames, DeBeers and diamonds, and your neighborhood natural gas company.
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onomics-CPB 2020
Match each occupation with its 2016 employment number, as listed in the previous article.
3,452,200
Office Clerks
4,602,500
Registered Nurses
3,555,500
General Combined Food Preparation and
Serving Workers, Including Fast Food
2,955,200
Cashiers
3,117,700
Retail Salespersons
Correct
Intro
Final
Answers
Answer:
Cashiers - 3,550,500
Retail - 4,602,500
Office Clerks - 3,117,700
General Combine Foods - 3,452,200
Registered Nurses - 2,955,200
Explanation:
I just took it and got them right
Answer:
Cashiers - 3,550,500
Retail - 4,602,500
Office Clerks - 3,117,700
General Combine Foods - 3,452,200
Registered Nurses - 2,955,200
Explanation:
I just took it and got them right
3. The owner of a specialty delicatessen buys baskets, decorates and fills them with food items, and
sells them as one of the products in the shop. The entrepreneur sells an average of 130 baskets a
month The basket supplier charges $0.50 per basket. The entrepreneur would like to reduce his
variable costs and has found a basket supplier who will charge only $0.40 per basket. How much
will the delicatessen owner save in a year by changing suppliers?
Answers
Answer:
$156
Explanation:
he old price per basket is $0.50 per basket
the new supplier has a price of $0.40 per basket
Savings per basket is $0.10 ($.50- $0.40)
The average sales per month are 130 baskets.
The average savings per months will be
=$0.10 x 130
=$13
yearly savings will be
=$13 x 12 months
=$156
Palmer Jam Company is a small manufacturer of several different jam products. One product is an organic jam that has no preservatives, sold to retail outlets. Susan Palmer must decide how many cases of jam to manufacture each month. The probability that demand will be 6 cases is 1, for 7 cases it is .3, for 8 cases it is 5, and for 9 cases it is 1. The cost of every case is $45, and the price Susan gets for each case is $95. Unfortunately, any cases not sold by the end of the month are of no value as a result of spoilage. How many cases should Susan manufacture each
month?
Answers
Susan should manufacture 6 cases of jam each month to maximize her expected profit.
to determine the optimal number of cases susan should manufacture each month, we can use a technique called the news vendor model. in this model, the goal is to find the order quantity that maximizes expected profit.
let's calculate the expected profit for each possible quantity and select the one that yields the highest profit.
given:
- cost per case: $45
- selling price per case: $95
- probability of demand for 6 cases: 1
- probability of demand for 7 cases: 0.3
- probability of demand for 8 cases: 0.5
- probability of demand for 9 cases: 0.1
let's calculate the expected profit for each quantity from 6 to 9 cases:
for 6 cases:
- expected profit = (probability of demand for 6 cases) * (selling price per case - cost per case)
= 1 * ($95 - $45)
= 1 * $50
= $50
for 7 cases:
- expected profit = (probability of demand for 7 cases) * (selling price per case - cost per case)
= 0.3 * ($95 - $45)
= 0.3 * $50
= $15
for 8 cases:
- expected profit = (probability of demand for 8 cases) * (selling price per case - cost per case)
= 0.5 * ($95 - $45)
= 0.5 * $50
= $25
for 9 cases:
- expected profit = (probability of demand for 9 cases) * (selling price per case - cost per case)
= 0.1 * ($95 - $45)
= 0.1 * $50
= $5
based on the expected profits, susan should manufacture the quantity that maximizes profit, which is 6 cases in this scenario.
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G Brown has the following items in her balance sheet as on 30 April 20X8: Capital £18,400;
Creditors £2,100; Fixtures £2,800; Car £3,900; Stock of goods £4,550; Debtors £2,780; Cash at bank
£6,250; Cash in hand £220.
During the first week of May 20X8
(a) She bought extra stock for goods £400 on credit.
(b) One of the debtors paid her £920 by cheque.
(c) She bought a computer by cheque £850.
Answers
Answer:
b
Explanation:
To support National Heart Week, the Heart Association plans to install a free blood pressure testing booth in El Con Mall for the week. Previous experience indicates that , on the average, 9 persons per hour request a test. Assume arrivals are Poisson distributed from an infinate population. Blood pressure measurements can be made at a constant time of five minutes each. Assume the queue length can be infinite with FCFS discipline. A) What average number in line can be expected? B)What averagenumber of persons can be expecgted to be in the system?
Answers
A) There are typically three persons in queue. B) There are typically three users in the system.
Given data: Average number of arrivals in an hour (λ) = 9 persons Blood pressure measurements can be made at a constant time of 5 minutes each ()To find:
A) The average number of people in the queue
B) The average number of people in the system
A) Average number of people in the queue: The queue length can be infinite with FCFS discipline. We need to find the average number of people in the queue.
The formula for the average number of people in the queue is: Lq = λ² / μ(μ - λ)Where,λ = 9 persons/hour (average number of arrivals)μ = 12 persons/hour (service rate)
Because,μ = 60 / 5 = 12 persons/hour∴ Lq = (9)² / 12(12 - 9) = 3We can expect 3 people, on average, to be waiting in line.
B) Average number of people in the system: The average number of people in the system is the total number of people in the queue and being served.
The formula for the average number of people in the system is: Ls = λ / (μ - λ)Where,λ = 9 persons/hour (average number of arrivals)μ = 12 persons/hour (service rate)
∴ Ls = 9 / (12 - 9) = 3We can expect 3 people, on average, to be in the system (being served or waiting in the queue).
A) The average number of people in the queue is 3.
B) The average number of people in the system is 3.
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mustafa's tax basis in his partnership interest at the beginning of the year was $10,000. if his share of the partnership liabilities increased by $10,000 during the year and his share of partnership income for the year is $3,000, what is his tax basis in his partnership interest at the end of the year?
Answers
Mustafa's tax basis in his partnership interest at the end of the year is
$23,000.
Under U.S. federal tax law, the tax basis of an asset is generally its cost basis. Determining such cost may require allocations where multiple assets are acquired together. Tax basis may be reduced by allowances for depreciation. Such reduced basis is referred to as the adjusted tax basis.
How to determine mustafa's tax basis in his partnership interest at the end of the year?
From the question given,
Mustafa's tax basis in his partnership interest at the beginning of the year was $10,000
Then, his share of the partnership liabilities increased by $10,000 during the year
Lastly, his share of partnership income for the year is $3,000
Let's enter all the information into the tax basis formula as follows :
Tax basis
= Partnership at the beginning of the year + increase in partnership debt + share in partnership income for the year
= $10,000 + $10,000 + $3,000
= $23,000
Therefore, mustafa's tax basis in his partnership interest at the end of the year is $23,000.
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Branson Corp. purchased a new machine for its business. The following list shows the various expenditures for the machine during its first year: - Base purchase price,
$50,000
- Sales tax incurred at the time of purchase,
$3,000
- Installation charges for the machine,
$2,000
- Insurance costs incurred while the machine was being shipped,
$200
- Insurance costs for the first year of the machine's service life,
$500
- Ordinary repairs and maintenance costs during the first year of the machine's service life,
$1,200
Question: What should be the capitalized cost of the machine? Do not use symbols or cents in the numerical response. Answer:
$
Answers
The capitalized cost of the machine should be 56,900.
Capitalized cost is also called the historical cost of the asset. It is the actual cost of acquiring the asset along with all the necessary expenditures incurred to get the asset ready for use in the production process.
The different expenditures for the machine during its first year include:
The base purchase price, $50,000
Sales tax incurred at the time of purchase, $3,000
Installation charges for the machine, $2,000
Insurance costs incurred while the machine was being shipped, $200
Insurance costs for the first year of the machine's service life, $500
Ordinary repairs and maintenance costs during the first year of the machine's service life, $1,200
The capitalized cost of the machine will be the sum of all the expenditures,
$50,000 + $3,000 + $2,000 + $200 + $500 + $1,200 = $56,900
Thus, the capitalized cost of the machine is $56,900.
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How could government – sponsored grants for the private development of new technologies result in a lower national debt?
Answers
Answer: Making initial development private saves the government from funding all of the research.
Explanation:
A grant refers to an amount of money that is financial assistance thats given by the government or an organization to an individual or firm for a specific purpose. A grant is different from a loan as it isn't meant to be paid back.
Government award grants for the development of technologies, community projects, home insulation etc.
With regards to the question, a government – sponsored grants for the private development of new technologies may result in a lower national debt when the government makes the initial development private thereby saving the government from funding all of the research.
_______ refers to a written statement of how the organization intends to actively recruit, hire, and develop members of relevant protected classes.
Answers
Affirmative action plan refers to a written statement of how the organization intends to actively recruit, hire, and develop members of relevant protected classes.
What is affirmative action plan?An affirmative action plan is a written document that outlines an organization's goals, policies, and procedures for recruiting, hiring, and promoting members of underrepresented groups, including women, minorities, veterans, and individuals with disabilities. The goal of an affirmative action plan is to ensure equal employment opportunities for all individuals regardless of their race, color, religion, sex, national origin, age, or disability.
Affirmative action plans are typically required by law for organizations that receive federal funding or have federal contracts, and are designed to address historical discrimination and promote diversity in the workplace.
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Answer:
Affirmative action plans
Explanation:
Can anyone help me think of an advertisement for a product I’m selling which is a drone.
Answers
Regardless of the variety of options available, all forms of advertising share two objectives: to influence customers so that they become leads or customers.
How to Influence Customers?
Consumer behavior is influenced by four psychological factors: attitude or set of beliefs, perception, learning, and motivation. Behaving in a manner that offers others the opportunity to change (their behavior, attitudes, thoughts, and ways) and/or accommodate your own wishes is one aspect of influencing skills. However, it is important to recognize that others may be unable to, unwilling to, or unprepared to respond to our request to be influenced. Human behavior is influenced by a variety of factors and characteristics. These are distinctions that are unique to the person with whom you are collaborating. Personality traits.
These are things that affect how a person interacts with other people. Institutional elements. Factors that affect the community and Public policy.
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what caused nike's retained earnings to increase in the current year? dividends to shareholders. net income. purchases of treasury stock. sales of stock.
Answers
Nike's retained earnings increased in the current year due to the net income generated by the company.
Net income is the amount of money that a company earns after deducting all expenses, including taxes, from its revenue.
When a company earns a profit, it can choose to distribute a portion of that profit as dividends to shareholders or reinvest it in the business.
In Nike's case, the company likely chose to retain a portion of its earnings to fund future growth and expansion plans.
It is also possible that Nike may have made purchases of treasury stock or sold additional shares of stock, which could have impacted its retained earnings.
However, these factors would have had a lesser impact on Nike's retained earnings compared to its net income.
In summary, the primary reason for Nike's retained earnings to increase in the current year is due to its net income.
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For each situation, select one option from below that you think will help increase profit.
A shop that sells fine glassware offers gift wrapping at no extra cost ?
A. Avoid extra payroll expenses.
B. Get the best rates on advertising.
C. Change the product you provide.
D. Use resources wisely.
E. Beat the competition.
F. Get the best rates on supplier purchases.
G. Eliminate some free services.
H. Increase worker efficiency.
Answers
Option E, beat the competition, could help increase profit for the shop that sells fine glassware by offering gift wrapping at no extra cost.
By doing so, the shop may attract more customers compared to competitors who charge extra for gift wrapping. This can potentially increase sales and revenue for the business. Offer promotions and discounts to attract customers, improve customer service and satisfaction to encourage repeat business, expand marketing efforts to reach new audiences, introduce new products or services to diversify offerings and generate interest, and utilize social media and online platforms to expand reach and engage with customers.
Additionally, offering unique and attractive features can differentiate the shop from competitors, allowing it to stand out and gain a competitive advantage.
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pls help me asap.....
Answers
Answer:
d
Explanation:
The end goal of budgeting is to plan and ____ organizational finances successfully?
A. justify
B. control
C.explain
D.increase
Answers
Answer:
B
Explanation:
Controlling is another organizational goal
What are customer needs?
Answers
Answer:
A customer need is a need that motivates a customer to purchase a product or service.
1. The NLEA does NOT allow for the listing of additional information provided by the manufacturer that may be of value to consumers. True or False
2. The Clayton Act was enacted in 1914 to strengthen the antitrust laws under the Sherman Act.
True or False
Answers
1. The statement "The NLEA does NOT allow for the listing of additional information provided by the manufacturer that may be of value to consumers" is FALSE.
The NLEA (Nutrition Labeling and Education Act) does allow manufacturers to provide additional information on their product labels that may be valuable to consumers, as long as it complies with FDA regulations.
2. The statement "The Clayton Act was enacted in 1914 to strengthen the antitrust laws under the Sherman Act" is TRUE. The Clayton Act was indeed enacted in 1914 to further address and prevent anti-competitive practices and to strengthen the existing antitrust laws under the Sherman Act.
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Suppose that instead of leasing the Accord, Nigel decides to buy the Honda Accord for $22,180. Would this contract need to be in writing to be enforceable?
Answers
L
Answer:
yes, pursuant to UCC, Section 2-201
Explanation:
Statute of frauds is a provision that requires certain transactions be in writing. This is usually based on the amount involved in the transaction.
In the given scenario according Section 2-201 of the UCC a contract that is above $500 should not be entered unless there is a written contract.
An oral contract won't suffice In this case.
Sylvia agrees to deliver one hundred computers to Ralph’s Tech Store by Saturday. On Friday, Sylvia delivers ninety-nine computers. Ralph’s Tech Store refuses to accept the shipment and accuses Sylvia of breaching the contract. By not delivering the entire one hundred computers, Sylvia:
has materially breached the contract and must forfeit any payment for the computers.
has not materially breached the contract and can recover the full contract price from Ralph’s Tech Store without any further action on Sylvia’s part.
has materially breached the contract, and Ralph’s Tech Store can sue for the amount it will take to get one more computer.
has not materially breached the contract and will be allowed the opportunity to cure by providing the one remaining computer.
Answers
By not delivering the entire one hundred computers, Sylvia has materially breached the contract and will be allowed the opportunity to cure by providing the one remaining computer.
What is a material breach of contract?A material breach of contract refers to a serious failure by one party to meet one or more of its contractual obligations. In general, a material breach would occur if one of the parties failed to carry out one of the most important obligations specified in the agreement. A party's failure to meet the other's expectations can sometimes be remedied with additional time or a reasonable compromise, but a material breach typically means that the contract has been completely broken.In this situation, Sylvia agreed to deliver 100 computers to Ralph’s Tech Store by Saturday, but she only delivered 99 computers on Friday. By not delivering the complete 100 computers, Sylvia has materially breached the contract. Ralph’s Tech Store has the right to sue Sylvia for damages in order to recover the cost of purchasing an additional computer.
However, because this is a minor breach, Sylvia can remedy the breach by delivering the one remaining computer.
Therefore, Sylvia has not materially breached the contract and will be allowed the opportunity to cure by providing the one remaining computer.
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Sylvia has not materially breached the contract because she has delivered the majority of the computers as per the agreement. Ralph's Tech Store can request the delivery of the remaining computer, and if Sylvia fails to do so, they can sue to recover the cost of obtaining that last computer.
Explanation:In the situation described, Sylvia has not materially breached the contract, instead what she has committed is what's referred to as a 'minor breach' or 'partial breach' in legal terms. A 'material breach' in a contract causes a significant issue and prevents the contract from being completed as agreed. In this case, Sylvia has delivered 99 out of 100 promised computers, and thus has completed a majority of her obligation. Ralph’s Tech Store however can still request that Sylvia fulfill her end of the contract by delivering the last remaining computer. If she fails to do so, Ralph’s Tech Store has the right to sue for the cost of obtaining a computer to meet the 100 computer quantity originally agreed upon.
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Julio just bought a $267,900 house. He had a 20 year mortgage with a fixed rate of 5. 875%. Julio’s monthly payments are $1,558. 9. What percent of the purchase price was Julio’s down payment? a. 13% b. 15% c. 18% d. 20% Please select the best answer from the choices provided A B C D.
Answers
Answer:
It's C
Explanation:
What is a description of the prime rate?
Answers
Answer: Prime rate is the interest rate that banks charge their preferred customers, or those with the highest credit ratings.
the financial statement effects of an employer's entry to record payroll obligations for a payroll period include:
Answers
When an employer records payroll obligations for a payroll period, it affects the financial statements in several ways. First, it increases the liabilities on the balance sheet, as the employer now owes money to their employees for their work. This includes wages, salaries, bonuses, and any other compensation owed to the employees. Second, it reduces the cash balance on the balance sheet, as the employer is now obligated to pay out these amounts. Finally, it may also impact the income statement, as the expenses associated with payroll will be recognized, such as payroll taxes and benefits. Overall, recording payroll obligations is an important part of an employer's financial reporting process and ensures that they are accurately reflecting their financial position and obligations to their employees.
A debit for the salary in its entirety and a credit for the net earnings are included in the entry to record a company's monthly obligation for a payroll period for all employer's.
Payroll obligations that an employer records for a payroll period have a variety of effects on the financial statements. Due to the fact that the employer now owes their employees money for their job, it first raises the liabilities on the balance sheet.
This covers the payment of the employees' wages, salaries, bonuses, and other benefits. Second, because the employer must now pay these sums, it lowers the cash balance on the balance sheet. Finally, since the payroll-related costs, such as payroll, will be recorded, it can also have an effect on the income statement.
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karns company purchased merchandise on account from bailey office suppliers for $87,000, with terms of 2/10, n/30. during the discount period, karns returned $7,000 of merchandise. karns paid the correct amount within the discount period. karns uses a perpetual inventory system. a) prepare the journal entry that karns company made to record the purchase of merchandise. b) prepare the entry that karns company made to record the return of merchandise. c) prepare the entry that karns company made to record the payment on account.
Answers
(a) To Accounts Payable 87000.(b) To Purchase Return and Allowances 7000. (c) To Sales Revenue 10000. (d) To Inventory (80000 * 2%) 1600.
Karn+A3+A2:D18+A+A2:D18
Date Account Debit Credit
a) Inventory 87000
To Accounts Payable 87000
b) Accounts Payable 7000
To Purchase Return and Allowances 7000
c) Accounts Receivables 10000
To Sales Revenue 10000
Cost of Goods Sold 2000
To Inventory 2000
d) Accounts Payable 80000
To Cash 78400
To Inventory (80000 * 2%) 1600
Merchandise alludes to merchandise, including individual or business items, as well as wares that are offered to individuals from people in general (retail) or different organizations (discount).
Merchandise may likewise allude to 'freebies' - special things, similar to the custom beverage bottles here, that are disseminated or sold for nothing. These things might incorporate schedules, magnets, wall workmanship, writing material, welcoming cards, textiles, identifications, or quite a few things.
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Static) Correcting net income. LO 5-2 Assume that a firm reports net income of $135,000 prior to making adjusting entries for the following items: expired rent. $10,500; depreciation expense, $12,300; and supplies used, $5,400. Assume that the required adjusting entries hove not been made. What effect do these errors have on the reported net income? Answer is complete but not entirely correct. Exercise 5.1 (Static) Calculating adjustments. LO 5-2 1. On June 1, 20X1, Conner Company, a new firm, paid $16,800 rent in advance for a seven-month period. The $16,800 was debited to the Prepaid Rent account. 2. On June 1, 20X1, the firm bought supplies for $12,580. The $12,580 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $9,275 were on hand. 3. On June 1, 20X1, the firm bought equipment costing $108,000. The equipment has an expected useful life of 9 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Conner Company. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Prepare the adjusting entry for supplies. Note: Enter debits before credits. Journal entry worksheet Prepare the adjusting entry for depreciation. Note: Enter debits before credits.
Answers
To prepare the adjusting entries for Conner Company based on the given information, we will need to account for the expired rent, supplies used, and depreciation expense. Here are the adjusting entries:
1. Adjusting entry for expired rent:
Rent Expense $10,500
Prepaid Rent $10,500
This entry recognizes the portion of the prepaid rent that has now been used up as an expense.
2. Adjusting entry for supplies:
Supplies Expense $3,305
Supplies $3,305
This entry adjusts the supplies account to reflect the actual supplies used during the period. The difference between the initial supplies balance and the ending supplies on hand is recorded as an expense.
3. Adjusting entry for depreciation:
Depreciation Expense $1,367
Accumulated Depreciation $1,367
This entry records the depreciation expense for the equipment purchased. Based on a 9-year useful life and no salvage value, the straight-line method is used to calculate the depreciation.
Please note that the dollar amounts for the adjusting entries were not provided in the question. I have made assumptions based on the information given.
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can someone answer me this please
Answers
Answer:
Higher fixed costs and Deteriorating net cash flow postion
Explanation:
The Coca Cola Company had a cost of goods sold last year of $51,000,000.00; its average inventory for soda products was $2,300,000.00. The annual turnover of companies in the carbonated beverage industry selling a similar cola line is 25 times per year. Is the industry average better than or worse than The Coca Cola Company?
Answers
The industry average is better than The Coca Cola Company in terms of inventory turnover.
The Coca Cola Company's inventory turnover ratio is approximately 22.17 (calculated as $51,000,000.00 ÷ $2,300,000.00), which is lower than the industry average turnover ratio of 25 times per year. Therefore, the industry average is better than The Coca Cola Company in terms of inventory turnover.
Inventory turnover ratio is an important financial metric used to evaluate the efficiency of a company in managing its inventory. A higher inventory turnover ratio indicates that a company is selling its products more quickly, which is generally a positive sign.
In this case, the industry average turnover ratio of 25 times per year indicates that companies in the carbonated beverage industry are selling their products more quickly than The Coca Cola Company, which has a ratio of 22.17.
This suggests that The Coca Cola Company could potentially improve its inventory management practices to increase its efficiency and competitiveness within the industry.
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She discovers that her local power company has a program where she can get on the job experience and go to school. What kind of program is this
Answers
This program sounds like a type of apprenticeship or co-op program.
Apprenticeship programs are typically offered by companies in skilled trades such as construction, electrical, and mechanical work, and provide on-the-job training and education to individuals seeking to learn a trade and gain practical experience. In this case, the power company offers such an opportunity. This program allows the individual to work for the company while also attending school to gain knowledge in their field of interest. It is a great way for someone to gain experience and develop skills in their chosen field, while also earning money and potentially getting a foot in the door for a full-time job.
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