Answer:
A. Paid $400 cash on accounts payable
Assets Effect :- Decrease in Total assets of the business
Assets Effect and Reason for no effect :- Cash decrease by $400.
B. Made a cash purchase of land for a building site for the business, $89,000
Assets Effect :- No effect in Total assets of the business
Assets Effect and Reason for no effect :- As land purchase for cash, cash decrease and land increase with the same amount.
C. Sold land and received cash of $69,000 (the land was carried on the company's books at $69,000)
Assets Effect :- No effect in Total assets of the business
Assets Effect and Reason for no effect :- The land was sold, so land decrease and cash increase with the same amount
D. Received $15,400 cash from customers on account
Assets Effect :- No effect in Total assets of the business
Assets Effect and Reason for no effect :- Cash increases and Accounts receivable decreases for the same amount
E. Purchased medical equipment and signed a $90,000 promissory note in payment
Assets Effect :- Increase in Total assets of the business
Assets Effect and Reason for no effect :- Equipment Increase
What is one of the primary concerns of socially responsible consumers?
A. Customer service
B. Low price
C. Socialism
D. Sustainability
One of the primary concerns of socially responsible consumers is sustainability.
Who is a socially responsible consumer?A socially responsible consumer is a consumer who cares about the social impact that the products he buys have on the world around him.
It is to be noted that socially responsible consumers avoid products that they think harm society. Instead, they buy goods and services from companies that they believe do a better job of taking care of the world.
Hence, One of the primary concerns of socially responsible consumers is sustainability.
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Calculating Income Tax Expense
Given the following.
Taxable Income $400k
Future taxable amounts $30k
Future deductible amounts $50k
Beginning Balances DTA $10k
Beginning Balances DTL $40k
Tax rate 30%.
1. What is the income tax expense?
2. What is the DTA year end balance?
3. What is the DTL year end balance?
4. What is the income tax expense?
5. What is the originating/reversing amount for the future taxable amount and for the deductible amount of the current year?
The income tax expense is $120k
The DTA year-end balance is $10k
The DTL year-end balance is $40k
The origination amount for the future deductible amount is $15k, and the reversing amount is also $15k.
How to Solve the Problem?1. To calculate the income tax expense, we need to first calculate the taxable income.
Taxable Income = $400k
Tax rate = 30%
Income tax expense = Taxable Income * Tax rate
Income tax expense = $400k * 30% = $120k
2. The DTA (Deferred Tax Asset) year-end balance can be calculated as follows:
Beginning Balance DTA = $10k
Future deductible amounts = $50k
Origination amount for the deductible amount = $50k * 30% = $15k
Reversing amount for the deductible amount = $15k
DTA year-end balance = Beginning Balance DTA + Origination amount - Reversing amount
DTA year-end balance = $10k + $15k - $15k = $10k
3. The DTL (Deferred Tax Liability) year-end balance can be calculated as follows:
Beginning Balance DTL = $40k
Future taxable amounts = $30k
Origination amount for the taxable amount = $30k * 30% = $9k
Reversing amount for the taxable amount = $9k
DTL year-end balance = Beginning Balance DTL + Origination amount - Reversing amount
DTL year-end balance = $40k + $9k - $9k = $40k
4. The originating/reversing amount for the future taxable amount and the future deductible amount of the current year have already been calculated in questions 2 and 3. The origination amount for the future taxable amount is $9k, and the reversing amount is also $9k. The origination amount for the future deductible amount is $15k, and the reversing amount is also $15k.
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Which of the following describes the money you must pay to own an insurance policy?
a
Principal
b
Premium
c
Deductible
Answer: Premium
Explanation: T
he premium is the per month payment you make to retain insurance, and the deductible is what you pay a provider before insurance takes over.
What two characteristics must an item possess to have monetary value?
A. scarcity and capital
C. transferability and utility
B. capital and transferability
D. utility and scarcity
The two characteristics that must be possessed is transferability and utility.
We can describe "monetary value" as the property of having a material worth and this allows the transfer-ability of an assets.
The amount that is paid in cash for an asset is referred to the monetary value of such asset.Money is one of the measure through which the monetary value on an assets is being exchange for the asset.In conclusion, a monetary value must be transferable to other person and must be able to be used to carry out transaction at any time..
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What misconceptions should Juanita correct during her meeting with Bill?
Misconceptions should Juanita correct during her meeting with Bill are - The misconception that a low stock price indicates a bad investment, The misconception that diversification is unnecessary, The misconception that investing in individual stocks is the only way to invest.
1. The misconception that a low stock price indicates a bad investment: Bill seems to believe that because the company's stock price is low, it must be a bad investment. However, stock price alone does not indicate the quality of an investment. There could be many factors affecting the stock price, such as market conditions or industry trends. Juanita should explain to Bill that it is important to look beyond the stock price and evaluate the company's financials and fundamentals before making an investment decision.
2. The misconception that diversification is unnecessary: Bill seems to believe that investing in only a few companies is sufficient and diversification is unnecessary. However, investing in only a few companies can expose an investor to significant unsystematic risk, which can be mitigated by diversification. Juanita should explain to Bill the benefits of diversification, including reducing risk and potentially increasing returns.
3. The misconception that investing in individual stocks is the only way to invest: Bill seems to believe that investing in individual stocks is the only way to invest. However, there are many other investment options available, such as mutual funds, exchange-traded funds (ETFs), and index funds. Juanita should explain to Bill the different investment options available and help him identify which option is best suited to his investment goals and risk tolerance.
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interference from differences in personality or status is called
The interference of personality or status differences is called personality traits, that is, a way developed by psychologists to organize different personalities according to certain dimensions.
The Big Five Personality Traits
This is one of the most accepted approaches today, which divides the personality into the following traits:
Opening Conscientiousness Extroversion Agreeableness Neuroticism
Each of the traits encompasses different personality facets that help identify which one individual has more or less of compared to another individual.
Therefore, today's organizations need to understand the personality traits of their employees through testing and analysis, to better understand the motivation of each individual and create an organizational culture based on diversity and development.
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A 15-year annuity pays $2,220 per month, and payments are made at the beginning of each month. If the interest rate is 10 percent compounded monthly for the first six years, and 6 percent compounded monthly thereafter, what is the present value of the annuity?
The present value of the annuity is $304,744.04.
What is an annuity?An annuity is a periodic fixed amount of money that is received periodically.
An annuity is usually a long-term insurance product that provides guaranteed income.
Formula for Present Value of Annuity:PV = P \times \frac{1 - (1 + r)^{-n}}{r}
PV = present value of an ordinary annuity
P = value of each payment
r = interest rate per period
n = number of periods
Data and Calculations:N (# of periods) = 72 (12 x 6)
I/Y (Interest per year) = 10%
PMT (Periodic Payment) = $2,220
FV (Future Value) = $0
Results:
PV for 6 years = $119,832.64
Sum of all periodic payments $159,840.00
Total Interest $-40,007.36
PV for 9 years = $184,911.40
Sum of all periodic payments = $239,760 ($2,220 x 108)
Total Interest $54,848.6
Total PV for 15 years = $304,744.04 ($119,832.64 + $184,911.40)
Thus, the present value of the annuity is $304,744.04.
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In what ways have vested interests used their influence to bias the U.S. economy toward the production of military goods at the expense of consumer goods?
Answer:
Not. Got g g
Explanation:
Fvvvvfvffv
what are the basic parts of business letter?
How many stages does the process of final accounting have?
The process of final accounting typically involves four stages.
How many stages does process of final accounting have?These stages are:
1. Recording: In this stage, financial transactions are recorded in the appropriate accounts using the double-entry bookkeeping system.
2. Adjusting: Adjusting entries are made to account for accruals, deferrals, and other adjustments necessary to ensure that the financial statements reflect the correct financial position and results of operations.
3. Summarizing: In this stage, the adjusted trial balance is prepared, and the financial statements are generated, including the income statement, balance sheet, and statement of cash flows.
4. Closing: The final stage involves closing the temporary accounts, such as revenue and expense accounts, into the retained earnings account to start the new accounting period with zero balances in those accounts.
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Which is these is true about trusts?
OA. They have less tax liability.
OB. They have multiple beneficiaries.
C. They require power of attorney.
OD. They have more tax liability.
Answer: The answer is They have more tax liability.
Explanation:Trust is a fiduciary relationship.In this, a first party gives the right to assets or the right to hold the title to a second party for the benefit of a third party.The first party is called the Grantor.The second party is called as the Trustee.The third party is called as the Beneficiary.As the trust is a seperate legal and taxable entity, the tax payment of the trusts depend upon whether it is a simple trust,complex trust or a grantor trust.The tax brackets of trusts are more compressed.So, the trusts pay more taxes than individual taxpayers.
What was Joy’s first invention? What did she wish her parents had done with it originally to make it successful?
The first invention that Joy had to her name was a dog collar.
Her wish was that her parents had patented the collar and gotten a lawyer to make it successful.
Who is Joy Mangano?Joy Mangano is an inventor that has many patents to her name. Her first invention was a type of dog collar which had a quick release.
For it to have been successful, she wishes that her parents her got a lawyer and patented her design so that they would have produced the collar and profited from it.
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If a company failed to make the end-of-period adjustment to move the amount of management fees that were earned from the Unearned Management Fees account to the Management Fees Revenue account, this omission would cause:
Present value. The State of Confusion wants to change the current retirement policy for state employees. To do so, however, the state must pay the current pension fund members the present value of their promised future payments. There are 220,000 current employees in the state pension fund. The average employee is 20 years away from retirement, and the average promised future retirement benefit is $380,000 per employee. If the state has a discount rate of 5.5% on all its funds, how much money will the state have to pay to the employees before it can start a new pension plan?
Answer:
$28,652,141,334
Explanation:
For the money to be paid first determine the present value which is shown below:
Present value = Future value × 1 ÷ (1 + rate)^n
= $380,000 × 1 ÷ (1 + 0.055)^20
= $130,237.0061
Now the money i.e. to be paid is
= $130,237.0061 × 220,000 current employees
= $28,652,141,334
Hence, the above is the answer and the same is to be considered
Among the following, who is not a Management expert? Peter F. Drucker Mc Kinsey Albert Grahmbell Elton Mayo
Answer:
Elton mayo should be the answer
Albert Grahmbell is not a Management expert.
Peter Ferdinand Drucker was an Austrian-American author, educator, and management consultant whose works helped provide the theoretical and operational groundwork for the contemporary commercial company.
Decentralization, prioritising knowledge work, management by objectives, and SMART goals are the tenets of Drucker's theory of management.
James O. McKinsey, a professor at the University of Chicago, founded McKinsey & Company in 1926. This multinational management consulting firm provides expert services to businesses, governments, and other organisations.
The idea that social and relational elements have a greater impact on employee motivation than economic or environmental factors is supported by Elton Mayo's management theory.
Who was Albert Grahmbell?Scottish-born American audiologist and inventor Alexander Graham Bell was born in Edinburgh, Scotland, on March 3, 1847, and passed away in Nova Scotia, Canada, on August 2, 1922. In order to spread the visible-speech method created by his father, Alexander Melville Bell (1819–1905), he relocated to the United States in 1871. He started his own deaf teacher training programme in Boston in 1872, and he had a significant impact on the spread of these techniques. He was the first to send understandable words via an electric wire in 1876 (he said to his assistant Thomas Watson, "Watson, come here, I want you"). In the same year that he cofounded Bell Telephone Co., he also received a patent for the telephone. In 1880, he established Volta Laboratory in Washington, D.C., using the money from France's Volta Prize. His experiments there resulted in the development of the photophone, which used light to transmit voice, the audiometer, an early practical sound recorder called the Graphophone, and workable wax recording media in both cylindrical and flat forms for the Graphophone. The American Association to Promote Teaching of Speech to the Deaf was created by him in 1890, and he was primarily responsible for launching the journal Science. He also conducted extensive study on deafness throughout his life.
Supporting answer
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Opportunity cost is _____.
the cost of business itself
the cost of travel, entertainment and other activities that provide an opportunity for recreation
the cost of an alternative product or service that cannot be acquired because the available funds were used for another purpose
none of the above
Opportunity cost is the cost of an alternative product or service that cannot be acquired. Opportunity cost is frequently referred to as the second-best option.
The loss of gain that would have been realised if a different option had been chosen is sometimes product referred to as the alternative cost. The loss of benefit as a result of a change in choice is another way to explain it. The value of the next-highest-valued alternative use of a resource is what economists mean when they talk about its "opportunity cost." You cannot, for instance, read a book at home during the time you would have spent seeing a movie and spend the money you would have spent on something else.
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Liebeck v. McDonald's
Do you agree with the end result of this case? Why or why not?
Whether or not someone agrees with the end result of the case is a matter of personal opinion and perspective.
In the Liebeck v. McDonald's case, the plaintiff, Stella Liebeck, sued McDonald's after suffering third-degree burns from hot coffee that she spilled on herself while in a car. She argued that the coffee was too hot and that McDonald's was negligent in serving it at such a high temperature. The jury awarded Liebeck $2.7 million in damages, which was later reduced to $640,000 on appeal.
Some people argue that the end result of the case was justified, as McDonald's had a duty to ensure that its products were safe for consumers and should have known that serving coffee at such a high temperature could cause harm. Others, however, argue that the damages awarded were excessive and that Liebeck was partially responsible for her own injuries by spilling the coffee.
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WBS for the knowledge area of Human/Resource Management for a low-cost housing project
Here's an example of a WBS for the knowledge area of Human/Resource Management for a low-cost housing project:
The wbs for a knowledge area of Human/Resource Management for a low-cost housing projectHuman/Resource Management
1.1 Staffing Plan
1.1.1 Define project roles and responsibilities
1.1.2 Identify required staffing resources
1.1.3 Determine the project team structure
1.1.4 Develop a staffing plan and budget
1.2 Recruitment and Selection
1.2.1 Create job descriptions and specifications
1.2.2 Advertise and promote job openings
1.2.3 Review resumes and conduct initial screenings
1.2.4 Conduct interviews and select candidates
1.2.5 Perform background checks and reference checks
1.2.6 Extend job offers and negotiate terms
1.3 Training and Development
1.3.1 Assess training needs for project team members
1.3.2 Develop a training plan and schedule
1.3.3 Conduct training sessions and workshops
1.3.4 Provide on-the-job training and mentoring
1.3.5 Evaluate training effectiveness and adjust as needed
1.4 Performance Management
1.4.1 Set performance expectations and goals
1.4.2 Monitor and assess individual and team performance
1.4.3 Provide feedback and coaching to improve performance
1.4.4 Conduct performance appraisals and evaluations
1.4.5 Identify and address performance issues or conflicts
1.5 Resource Allocation
1.5.1 Identify project resource requirements
1.5.2 Allocate resources based on project needs
1.5.3 Monitor resource utilization and availability
1.5.4 Optimize resource allocation to meet project objectives
1.6 Stakeholder Management
1.6.1 Identify project stakeholders and their interests
1.6.2 Develop a stakeholder engagement plan
1.6.3 Communicate and manage stakeholder expectations
1.6.4 Address stakeholder concerns and resolve conflicts
1.6.5 Maintain positive relationships with stakeholders
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Cawley Company makes three models of tasers. Information on the three products
is given below.
Tingler Shocker Stunner
Sales $300,000 $500,000 $200,000
Variable expenses 150,000 200,000 145,000
Contribution margin 150,000 300,000 55,000
Fixed expenses 120,000 230,000 95,000
Net income $ 30,000 $ 70,000 $ (40,000)
Fixed expenses consist of $300,000 of common costs allocated to the three products based
on relative sales, and additional fixed expenses of $30,000 (Tingler), $80,000 (Shocker),
and $35,000 (Stunner). The common costs will be incurred regardless of how many models
are produced. The other fixed expenses would be eliminated if a model is phased out.
James Watt, an executive with the company, feels the Stunner line should be discontinued
to increase the company’s net income.
Instructions
(a) Compute current net income for Cawley Company.
(b) Compute net income by product line and in total for Cawley Company if the company
discontinues the Stunner product line. (Hint: Allocate the $300,000 common costs to
the two remaining product lines based on their relative sales.)
(c) Should Cawley eliminate the Stunner product line? Why or why not?
Answer:
Particulars Tingler Shocker Stunner Total
Sales $304,000.00 $496,000.00 $200,000.00 $1,000,000.00
Variable expense $149,800.00 $193,300.00 $139,400.00 $482,500.00
Contribution Margin (Sales - Variable
expenses) $154,200.00 $302,700.00 $60,600.00 $517,500.00
Fixed expenses $119,984.00 $226,816.00 $93,200.00 $440,000.00
Net Income (Contribution Margin - Fixed
expenses) $34,216.00 $75,884.00 -$32,600.00 $77,500.00
Computation of net income by product line and in total for Cawley Company if the company discontinues the Stunner product line
Particulars Tingler Shocker Total
Sales $304,000.00 $496,000.00 $800,000.00
Variable expense $149,800.00 $193,300.00 $343,100.00
Contribution Margin
(Sales - Variable expenses) $154,200.00 $302,700.00 $456,900.00
Fixed expenses:
Common Fixed expenses
(296000*304000/800000)
(296000*496000/800000) $112,480.00 $183,520.00 $296,000.00
Direct fixed expenses $30,000.00 $80,000.00 $110,000.00
Total Fixed expenses $142,480.00 $263,520.00 $406,000.00
Net Income (Contribution Margin
- Fixed expenses) $11,720.00 $39,180.00 $50,900.00
Tingler Net Income $11,720.00
Shocker Net Income $39,180.00
Total Net Income $50,900.00
=============
Should Cawley eliminate the stunner produc tline?
NO
Net income would decrease from $ 77,500 to $ 50900
Explanation:
While going into a forest and clear-cutting all of the trees may not be environmentally friendly, it is very efficient and less than sustainable practices.
1.) damaging
2) dangerous
3.) effective
4.) expensive
clear-cutting all of the trees damaging and dangerous practice, hence the correct options are 1 and 2.
What is deforestation?Deforestation, also known as forest clearance, is the removal of a forest or tree stand from land before it is put to another use other than that of a forest.
Conversion of forest land to farms, ranches, or urban use is a form of deforestation. Tropical rainforests are where deforestation is most prevalent.
Forests have been cleared throughout history and into the modern era to make room for agriculture and animal grazing as well as to obtain wood for fuel, manufacturing, and construction.
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The balance in the unearned fees account, before adjustment at the end of the year, is $36,950. The year end is December 31.
Journalize the December 31 adjusting entry required if the amount of unearned fees at the end of the year is $14,440.
Adjustment required to account for unearned fees as of December 31: 36,950 - 14,440 = $22,510.
How will you make final accounting adjustments for unearned income?As a business generates revenue, it debits the unearned revenue account to reduce the balance and credits the revenue account (with a credit). Normally, the unearned revenue account is listed on the balance sheet as a current liability.
Which adjustment journal entry should be made for unearned rent revenue?Unearned income should be recorded as a credit to the unearned revenue account and a debit to the cash account in your diary. This journal entry shows that although the company received payment in cash for a service, it was earned on credit as a down payment for future items.
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The newest employee at Edwards Escrow Co., Adam Riley, is handling the escrow
paperwork for the sellers and the buyers on an Anaheim property sale. When Adam
goes to figure out the prorations for the month of February, for which some of the
expenses have already been paid by the sellers, Adam cannot remember what
number to use to figure out the proration. Which of the following should he use?
Since Adam cannot remember the number he used for the proration, then, he should use 28 days because that is the actual number of days in February,
Proration is an act of dividing the property expenses between a buyer and seller to ensure that the parties only pay for the days they owns the property.
Since the month of February contains 28 days, then, the number of days used in the calculation of the Proration will be maximum of 28 days
Therefore, the Option A is correct because 28 days is the actual number of days in February.
Missing options includes
28 days because that is the actual number of days in February, the month for which the prorations are being calculated., 30 days which escrow companies use as their base month in figuring out prorations31 days which escrow companies use as their base month in figuring out prorations.Read more about February days
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Why should you be able to create, share, and maintain documents?
Answer:
it helps the business run smoother
Explanation:
Arnold is a CEO at Gamma LLC. He has control over the corporate funds of the company. Arnold has often used funds from the company to pay for his travel and hotel expenses. The funds could otherwise have increased stockholder returns. Which of the following concepts is illustrated in this scenario?
a. On-the-job consumption
b. Information manipulation
c. Information asymmetry
d. Corporate governance
e. Greenmail
The concept that is illustrated in this scenario is On-the-job consumption. This is because Arnold, the CEO of Gamma LLC, is using corporate funds to pay for his personal expenses, such as travel and hotel expenses.
This is a form of on-the-job consumption, as Arnold is using company resources for his personal benefit. As a result, the stockholder returns are reduced, since the funds that Arnold is using could have otherwise been used to increase the returns for the stockholders. Therefore, the correct answer is option (a) On-the-job consumption.
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Identify the normal balance (debit or credit) for each of the following accounts.
Explanation:
u didn't complete it, I didn't see it oo
Should firms require higher rates of return on foreign projects than on identical projects located at home? Explain.
Who is a business letter not written by?
A business letter is not written Option C. between two private individuals.
A business letter is a formal letter used by businesses or companies to communicate with customers, clients, other companies, or government officials. It is used for various purposes, such as requesting information, placing orders, providing feedback, making inquiries, making claims, making offers, and more. Business letters are different from personal letters in that they are more formal, objective, and to the point.
Business letters are usually written by a company's employees who have the authority to do so. For instance, the sales team may write letters to prospective clients to solicit their business, while the human resources department may write letters to job applicants to inform them of their application status. There are various types of business letters, and each serves a different purpose. Some common types of business letters include:
1. Inquiry letters: Used to request information about products, services, or pricing.
2. Order letters: Used to place orders for goods or services.
3. Complaint letters: Used to make a formal complaint about a product or service.
4. Adjustment letters: Used to respond to a complaint or request for an adjustment.
5. Sales letters: Used to sell a product or service.
6. Acknowledgment letters: Used to acknowledge receipt of an order, complaint, or request.
7. Employment letters: Used to communicate with job applicants, employees, or ex-employees.
8. Invitation letters: Used to invite someone to an event or occasion.
9. Cover letters: Used to accompany a resume or job application.
Business letters are important because they create a record of communication between two parties, and they provide a paper trail of events. They are also important because they can be used in legal proceedings, as they show that the parties communicated about a particular matter. Therefore, the correct option is C.
The question was incomplete, Find the full content below:
A business letter is not written
A. between a company and its customers or clients
B. between one company and another company
C. between two private individuals
D. to employees within a company to recognize important achievements
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Naomi complains to Andy that he "hasn't been here – until now, when we're in crisis mode." Based on this statement, Andy is most likely viewed as a(n) ______ leader by Naomi.
Based on the fact that Naomi complained to Andy about them being in crisis mode, this means that Andy is viewed as a passive leader.
What kind of leader is Andy?Based on the fact that Andy had not been around to lead his team mates and subordinates, it means that he is a passive leader.
Passive leaders are those who don't take their jobs hands-on and are usually missing from their posts.
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Step 2. Search to find any summary about the company that mentions funds for starting the business. Try to find any information containing employee data in this section.
Step 3. Find the section where the product or service is detailed. Look to see what kinds of products or services will be involved with the business. Compare this with what other similar business plans are offering.
Record the information you found for steps 2 and 3. Make sure you discuss how the company got money to start the business, employee data, and what products or services the company provides in comparison with what other similar business plans are offering.
We can see here that such company gotten after searching for company that mentions funds for starting the business is Go-o-gle.
Funds for starting the business: $1 million in funding from Andy Bechtolsheim.
Employee data: over 160,000 employees worldwide.
What is a company?A company is a legal and organizational entity formed by individuals or a group of individuals with the purpose of conducting business activities. It is an association of individuals who come together to engage in commercial, industrial, or professional activities in order to generate revenue and make a profit.
Their products are digital and online services.
Comparing this company, we see Microsoft.
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Consider the following costs of a typical firm in a purely competitive industry. The firm has no fixed costs (average total cost = average
variable cost).
Quantity
1
2
3
4
5
6
Average Total
Cost
$10.00
9.50
9.00
9.25
12.60
22.00
Marginal Cost
$9.00
O $9.25
O $10.00
O $8.00
$9.00
8.00
10.00
26.00
69.00
a. Given only the information available, what would you expect product price to be in the long run?
Answer:yes sir its right 68 dollars result
Explanation: