Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo) [The following information applies to the questions displayed below.) Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,043 cash. August 20 The company received $3,450 cash from taking photos for customers. August 31 The company paid $885 cash for August utilities. Use the following information for Exercise 2-9 through Exercise 2-12 below. (Algo) [The following information applies to the questions displayed below.) Following are the transactions of a new company called Pose-for-Pics. August 1 M. Harris, the owner, invested $10,750 cash and 546,225 of photography equipment in the company in exchange for common stock. August 2 The company paid $3,800 cash for an insurance policy covering the next 24 months. August 5 The company purchased supplies for $2,043 cash. August 20 The company received $3,450 cash from taking photos for customers. August 31 The company paid $885 cash for August utilities. Exercise 2-12 (Algo) Preparing T-accounts (ledger) and a trial balance LO P1 Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose- for-Pics

Answers

Answer 1

Therefore, the Trial Balance of Pose-for-Pics as on August 31 is calculated as $14,703 debit and $14,703 credit.

As per the given data, the following transactions of a new company called Pose-for-Pics are given: August

1: M. Harris, the owner, invested $10,750 cash and $46,225 of photography equipment in the company in exchange for common stock. August

2: The company paid $3,800 cash for an insurance policy covering the next 24 months.August 5: The company purchased supplies for $2,043 cash. August 20: The company received $3,450 cash from taking photos for customers.August 31: The company paid $885 cash for August utilities.

(a) Prepare T-Accounts and enter the opening balances on the relevant accounts as on August 1. Account No.101 is used to record cash transactions. Account No.141 is used to record equipment transactions. Account No.201 is used to record insurance transactions. Account No.126 is used to record supplies transactions. Account No.301 is used to record service revenue transactions. Account No.689 is used to record utility expenses transactions.

(b) Post each transaction to the appropriate T-Account and calculate new balance.

(c) Extract the balances of each of the accounts as on August 31 and prepare the trial balance of Pose-for-Pics on that date. The T-Accounts, posting and balances are as follows:

(b) Posting to T-Accounts: (c) Preparation of Trial Balance as on August 31:

Therefore, the Trial Balance of Pose-for-Pics as on August 31 is calculated as $14,703 debit and $14,703 credit.

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Related Questions

Employee values are defined as those things that a person sees as __________________ to his or her welfare.
A. conducive
B. coherent
C. classy
D. correlation

Answers

A. conducive.Employee values are an integral part of an individual's mindset and play a crucial role in shaping their attitudes, behaviors, and overall job satisfaction.

These values are defined as the principles, beliefs, and ideals that employees hold dear and consider important for their personal well-being within the workplace.

When we say that employee values are conducive to their welfare, we mean that these values contribute positively to their overall job satisfaction, engagement, and overall sense of fulfillment in their work environment. Employee values act as guiding principles that align with their personal needs, desires, and aspirations, ensuring that their welfare is taken into consideration.

Conducive values canand priorities. For example, some employees may highly vary from person to person, as each employee has unique preferences value work-life balance and prioritize flexible working hours, while others may prioritize career growth and development opportunities. Some common examples of conducive employee values include autonomy, fairness, respect, teamwork, open communication, work-life balance, ethical practices, and opportunities for personal and professional growth.

When employees feel that their values are aligned with the organizational culture and practices, they are more likely to experience higher job satisfaction, increased motivation, and a greater sense of commitment towards their work. On the other hand, if there is a misalignment between employee values and the organizational environment, it can lead to dissatisfaction, disengagement, and higher turnover rates.

Understanding and acknowledging employee values is essential for organizations to create a positive work environment that promotes employee well-being and fosters a sense of belonging. It requires organizations to be attentive to the needs and preferences of their employees, and to create policies, practices, and programs that support and align with their values.

In conclusion, employee values are the beliefs and principles that individuals consider important for their personal welfare in the workplace. These values play a significant role in shaping employees' attitudes, behaviors, and overall job satisfaction. When organizations recognize and respect these values, they can create a work environment that supports employees' well-being and fosters a positive and productive workforce.

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Job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is ______.

Answers

The answer is: 120,000

Explanation:

job #4260 consisted of 1,000 units at a total cost of $200,000. The cost transferred to cost of goods sold for the sale of 600 of the units is:

total cost / units x sale of units
200,000 / 1,000 x 600
= 120,000

The cost transferred to cost of goods sold for the sale of 600 of the units is 120,000. Frequently, market analysts use models with two sources of info: actual capital, with amount K and work, with amount L.

What is Total cost?

In financial matters, total cost (TC) is the base dollar cost of creating some amount of result.

This is the total monetary cost of creation and is comprised of variable cost, which changes as indicated by the amount of a decent delivered and incorporates information sources like work and natural substances.

Work #4260 comprised of 1,000 units at a total cost of $200,000. The cost moved to cost of products sold for the offer of 600 of the units is

Total cost / units x sale of units

200,000 / 1,000 x 600

= 120,000

The negligible cost can likewise be determined by tracking down the subordinate of total cost or variable cost. Both of these subsidiaries work in light of the fact that the total cost incorporates variable cost and fixed cost, yet fixed cost is a consistent with a subsidiary of 0.

The total cost of delivering a particular degree of result is the cost of the multitude of variables of creation. Total cost in financial matters incorporates the total open door cost (benefits got from the following best other option) of each element of creation as a feature of its fixed or variable costs.

Therefore The extra total cost of one extra unit of creation is called minor cost.

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Carrie is creating a personal balance sheet. The heading includes the period of time that the balance sheet represents. Which could be the header of Carrie's balance sheet?

Answers

Answer:

The answer is Carrie's Balance Sheet (January 2013)

Explanation:

It is titled Carrie's Balance sheet and it shows the date in the title, it is the only one with a specific month compared to a longer period of time.

Answer:Carrie’s Balance Sheet (January 1, 2021)

Explanation: Got it correct on edge.

.A manufacturing business has purchases of raw materials of $4,500, closing inventory of $1,400 and opening inventory of $800. What is the cost of raw materials used in production?

Answers

Answer:

Cost of raw materials used = $5,100

Explanation:

Given:

Purchases of raw materials = $4,500

Closing inventory = $1,400

Opening inventory = $800

Find:

Cost of raw materials used

Computation:

Cost of raw materials used = Opening inventory + Purchases of raw materials - Closing inventory

Cost of raw materials used = 1,400 + 4,500 - 800

Cost of raw materials used = $5,100

What MUST you have in order to complete a
federal, state, or local tax return form?
A. online internet access
B. all of your W-2 form(s)
C. your employer's permission
D. the permission of the manager at your bank

Answers

All of your W-2 form is what you must have in order to complete federal, state, or local tax return form.

What is tax return?

A tax return is a form filed with the government that reports an individual's or business's income, expenses, and other relevant financial information for a specific tax period. Tax returns are used to calculate the amount of tax owed or the amount of refund due. Individuals and businesses are required to file tax returns annually with their respective tax authorities. In the United States, the Internal Revenue Service (IRS) is responsible for collecting federal taxes and processing tax returns. Tax returns can be filed electronically or by mail. The information provided in a tax return varies depending on the type of tax return being filed. For example, an individual's tax return typically includes information on their income, deductions, and credits, while a business tax return may include information on their revenue, expenses, and investments.

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Why would a producer conduct a marginal analysis?
A. To understand the type of taxes paid on a good or service
B. To determine whether a price increase will change what a
consumer will buy
C. To predict the amount of environmental pollution caused by a
manufacturer
D. To suggest a way to package a product so that it causes less
pollution
E

Answers

Answer:

B to determine whether a price increase

Explanation:

cuz I said

Which of the following are exempt from licensure, as long as they meet the exemption
requirements?
Public and non-public schools
Child care facilities
Membership organization programs
Summer day and 24-hour camps
Large family child care homes
Vacation Bible School programs
Hotels and resorts

Answers

Answer:

Child Care Facilities

Large Family Child Care Homes

Public and non-public schools

Summer day and 24-hour camps

Vacation Bible School Programs.

Explanation:

A facility that is exempted from licensing is the one that is not licenses, but is still to maintaining certain requirements held under respective authorities. They need to meet certain requirements in order to operate effectively.

There are several programs that are exempted from licensing. From the given list, they are:

Public and non-public schoolsChild Care FacilitiesSummer day and 24-hour campsLarge Family Child Care homesVacation Bible School Programs.

These programs are exempted from having a license but are under the obligation to meet certain requirements to run efficiently.

why do your feet stink

Answers

Answer:

feet become smelly if sweat soaks into shoes and they don't dry before you wear them again. Bacteria on the skin break down sweat as it comes from the pores.

Kaye Blanchard is 50 years old. She has $66000 of adjusted gross income and 15,200 of qualified medical expenses. She will be itemized her tax deductions this year. How much of a tax deduction will Kaye be able to deduct (assume 7.5 percent floor for deduction)?

Answers

Deductible amount is $10,250

A deductible is an expense that an individual taxpayer or a business can deduct from adjusted gross income when filling out a tax form. Deductible expenses lower taxable income and, as a result, the amount of income taxes owed.

Most wage earners take the standard deduction; however, those with extremely high deductible expenses can itemize to reduce their tax bill.

Individual tax deductions for individuals include student loan interest, self-employment expenses, charitable donation deductions, and mortgage interest deductions.

Payroll, utilities, rent, leases, and other operational costs are examples of business deductibles.

The amount of tax levied on the taxpayer is referred to as his or her income tax liability. It represents the total amount of tax owed to the government. Once paid, it will contribute to the total amount required by the government to fund its projects.

Threshold amount

=Adjusted gross income × Threshold rate

=$66,000 × 0.75

=$4950

Deductible amount

=Qualified medical expenses - Threshold amount

=$15,200 - $4950

=$10,250

Deductible amount is $10,250

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What's a curling iron?

Answers

Answer:

A curling iron is a tool that is used on hair to create a tight or loose curl.

What did the large medical bill of $55,543 cover? What are three examples of health care expenses after surgery for appendicitis?

Answers

The large medical bill of $55,543 covered the surgery for appendicitis and the treatments received.

How does health insurance operate?

A health insurance plan or policy pays a portion of the costs associated with hospital stays and doctor appointments. It exists to assist with reducing the expenses of medical occurrences, whether they are anticipated or unanticipated.

Depending on your age and income, the insurance provider will decide how much you will pay for your health insurance premium. In order to maintain your health and treat illnesses and accidents, health insurance is necessary. Having health insurance shields you and your family from financial hardships, which is only one of its many advantages.

Three examples of healthcare expenses after the surgery for appendicitis are the surgeon fees, the check-up cost, and the cost of hospital stay.

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A person works as a cashier in a major supermarket. She sells vegetables to
customers, including local restaurants that use these ingredients to make
meals for their customers. The supermarket pays the cashier wages for her
work, which she uses to buy her own groceries and pay bills.
When the supermarket in the passage sells vegetables to restaurants, it takes
on which role in the circular flow of goods?
O A. Business market
O B. Resource market
O c. Product market
O D. Household market

Answers

Answer: IT B B

Explanation:

Trust the process

When the supermarket in the passage sells vegetables to restaurants, it takes a resource market role in the circular flow of goods. The correct option is b.

What is a resource market?

Resource market definition formally refers to a market that furnishes companies, firms, and organizations with the factors of production in exchange for monetary benefits. Resource markets are those which provide businesses with the resources they need to provide the goods or services they offer. In this sense, these markets are more business-to-business than business-to-consumer.

A resource market may also be referred to as a factor market, which economists use to separately refer to all the resources that businesses employ to legally acquire what they need to undertake in the production of goods and services. It can also be termed the input market. Factors of production acquired in the concept or resource/factor markets include labor, capital, and land.

A simplistic definition is that a resource market is a market that provides businesses with the resources they need to produce goods and services.

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grace co. had a chinese yuan payable resulting from imports from china and a mexican peso receivable resulting from exports to mexico. grace recorded foreign exchange losses related to both its yuan payable and peso receivable. did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date? yuan peso a. increase increase b. increase decrease c. decrease increase d. decrease decrease

Answers

The foreign currencies D) decreased in dollar value from the date of the transaction to the settlement date.

When a company has a payable in a foreign currency and that currency depreciates against the US dollar between the date of the transaction and the settlement date, the payable will require more dollars to settle. This results in a foreign exchange loss for the company.

Therefore, since Grace Co. had a Chinese yuan payable resulting from imports from China and recorded a foreign exchange loss, it indicates that the Chinese yuan decreased in value against the US dollar between the transaction and settlement date.

Similarly, when a company has a receivable in a foreign currency and that currency depreciates against the US dollar between the date of the transaction and the settlement date, the receivable will be worth less in dollars.

Thus, since Grace Co. also recorded a foreign exchange loss related to its Mexican peso receivable resulting from exports to Mexico, it indicates that the Mexican peso also decreased in value against the US dollar during the same period.

Therefore, the foreign currencies, Chinese yuan, and Mexican peso D) decreased in dollar value from the date of the transaction to the settlement date.

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Question 10 of 20
Which is an example of a professional interview?
A. Janelle has an interview with the director of a foundation that
offers college scholarships.
B. Marci interviews a city council member about placing new stop
signs in her neighborhood.
C. Pavi interviews the school athletics director about an uptick in
sports injuries.
D. Tasha interviews her grandfather about growing up in a different
country.

Answers

Answer: B. Marci interviews a city council member about placing new stop signs in her neighborhood.

Explanation:

Show work
Suppose the price of a movie ticket is $7.50 and the quantity demanded is 550 .when the increases to $8.50,the quantity demanded drops to 450.Using the mid-point method , what is the price elasticity of demand for movie ticket ?

Answers

The price elasticity of demand for movie ticket is -0.8.

The price of a movie ticket is $7.50 and the quantity demanded is 550 and when the price increases to $8.50, the quantity demanded drops to 450.

Price elasticity of demand using the midpoint method can be calculated using the following formula

:\($$E_{p}=\frac{\frac{\Delta Q}{Q_{1}+Q_{2}}}{\frac{\Delta P}{P_{1}+P_{2}}}$$where,$$Q_{1}=550$$ $$Q_{2}=450$$$$P_{1}=7.50$$ $$P_{2}=8.50$$\)

The calculation is as follows:

\($$E_{p}=\frac{\frac{450-550}{550+450}}{\frac{8.50-7.50}{7.50+8.50}}$$$$E_{p}=\frac{\frac{-100}{1000}}{\frac{1}{8}}$$$$E_{p}=\frac{-0.1}{0.125}$$$$E_{p}=-0.8$$\)

Therefore, the price elasticity of demand for movie ticket is -0.8.

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Identify the problem by analyzing the given scenario. An IT software company is losing market share because it fails to launch new products in a timely manner. Decisions are centralized at the top, and employees have little or no voice. One way to solve this problem is to use teams to eliminate ____ in the company.​

Answers

Explanation:

to eliminate their best efforts in the company

Answer:

"bureaucratic barriers"

Explanation:

i got it right on plato

Economic growth is an increase in a nation's output of goods and services over time. answer choices. True. False.

Answers

The statement is True. Economic growth is an increase in a nation's output of goods and services over time.

A financial boom may be defined because the increase or improvement within the inflation-adjusted marketplace value of the products and services produced by using an economic system in a financial year. Statisticians conventionally measure such increase as the percent charge of growth in the actual gross home product, or real GDP.

The increase is usually calculated in real phrases – i.e., inflation-adjusted terms – to put off the distorting impact of inflation at the costs of products produced. dimension of monetary boom uses countrywide earnings accounting. in view that economic increase is measured as the annual percent exchange of gross domestic product (GDP), it has all the advantages and downsides of that degree. The monetary boom costs of countries are commonly compared to the use of the ratio of GDP to population (in keeping with capita per income).

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Which of the following options is a primary reference group?
A. literary circle
B. church
C. club
D. friends

Answers

The correct option is option d) friends are a primary reference group.

What is a reference?

In general, a reference is source of information used to support or verify a statement, claim, or fact. References can come in many forms, including books, articles, websites, and other types of media. In academic or professional settings, references are typically used to provide evidence and credibility to an argument or idea. They can be cited within a document or presentation, or listed separately in a bibliography or reference list. References can also be used as a way to give credit to the original source of an idea or piece of information. It is important to properly cite and reference sources to avoid plagiarism and ensure the accuracy and reliability of your work.

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True or false: Studying business does NOT offerlany benefits for those who decide to work for a government agency or a nonprofit organization

Answers

The following question is : false

The given statement stating that "the study of business would not help in knowing about the advantages of Non-profit organizations or government agencies" would be considered:

b). False

'Non-profit Organizations' are characterized as the 'type of business organizations or set up that does not work with the aim of profit but for social welfare. Similarly, the sole motive of a government agency is also 'social welfare.' However, the workings of both the kinds of organizations(business and NPOs) are similar like the recruitment of staff or volunteers, ensuring productivity, putting the revenue back to the firm for progression of its operations, etc. Both of them have a goal of leaving the maximum impact on the people. Thus, the given statement is false as studying about business would give a very clear idea about the various processes of an organization.

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I have $3,000 in credit card debt. If I can pay $150.00 a month, how long will it take to pay it off? My current interest rate is 18%. Remember to include your inputs and round 2 decimal points like we did in module 2.

Answers

Answer:

2 years

Explanation:

Rate = rate per period = 18%/12 = 1.5%

PV = 3,000

PMT = 150

Number of a payment period = NPER(Rate, PMT, -PV, FV)

Number of a payment period = NPER(18%/12, 150, -3000)

Number of a payment period = 23.96 months

Time to payoff loan = 23.96/12

Time to payoff loan = 1.99667

Time to payoff loan = 2 years

Why do we need to carefully plan the operations of the business?​

Answers

Answer:

hi nhi pata bhai soery. long

I will give out the brain thing (idk what it’s called) to whoever has the best answer on getting it. It can be serious, funny, sad, etc. Good luck!

Answers

Buy a visa card from a store add money on it and buy brain thing  with it

Why does this have me so confused hahahah

Question # 5
Multiple Choice
The executive summary portion of the market plan should be no more than a couple of pages long.
A
O False
O True

Question # 5Multiple ChoiceThe executive summary portion of the market plan should be no more than a

Answers

It is true that the executive summary portion of the market plan should be no more than a couple of pages long.

What is market plan?

A market plan is described as a strategy that is mainly implemented for advertising purposes, and the main goal of this strategy is to sell services and products. It is important to mention that a market plan allows one to properly identify the target market.

The executive summary highlights an overall summary of a document. Hence, the entire length of the executive summary mainly depends on the entire length of the document. The summary or executive summary of a document can range from one to two pages. Hence, the statement is true.

It can be concluded that the executive summary portion of the market plan should be no more than a couple of pages long.

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Hewlett and Martin are partners. Hewlett's capital balance in the partnership is $60,500, and Martin's capital balance $57,500. Hewlett and Martin have agreed to share equally in income or loss. Hewlett and Martin agree to accept Black with a 30% interest. Black will invest $31,500 in the partnership. The bonus that is granted to Black equals:

Answers

Answer:

????

Explanation:

Selection committees are concerned with what?
A. Succession planning, workforce planning, and popularity
B. Budget planning, workforce planning, and leadership development
C. Succession planning, workforce planning, and leadership
development
D. Succession planning, workforce planning, and unskilled workers

Answers

C. Succession planning, workforce planning, and leadership development.

Why it is?

Selection committees are typically involved in identifying and selecting candidates for important positions within an organization.

To make informed decisions, selection committees often focus on a range of factors, including succession planning (i.e., identifying potential future leaders), workforce planning (i.e., ensuring the right mix of skills and experience), and leadership development (i.e., supporting the growth and development of current and future leaders). Budget planning and unskilled workers are typically not areas of focus for selection committees.

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Personal selling used to be more common.

True
False

Answers

The answer is true as in true
Answer : true personal selling used to be more common


a manufacturer reports the following information. direct materials $ 50 per unit direct labor $ 12 per unit variable overhead $ 6 per unit fixed overhead $ 2 per unit target markup 40 % compute the (a) total product cost per unit under absorption costing and (b) target selling price per unit under absorption costing.

Answers

The correct answers are: (a) Total product cost per unit under absorption costing: $70 per unit. (b) Target selling price per unit under absorption costing: $98 per unit.

To compute the total product cost per unit under absorption costing, we need to consider the direct materials, direct labor, variable overhead, and fixed overhead, as well as the target markup.

(a) Total product cost per unit under absorption costing:

Direct materials: $50 per unit

Direct labor: $12 per unit

Variable overhead: $6 per unit

Fixed overhead: $2 per unit

Total variable cost per unit:

Direct materials + Direct labor + Variable overhead = $50 + $12 + $6 = $68 per unit

Total cost per unit (including fixed overhead):

Total variable cost per unit + Fixed overhead = $68 + $2 = $70 per unit

(b) Target selling price per unit under absorption costing:

Target selling price is calculated by adding the target markup percentage to the total product cost per unit.

Target selling price per unit = Total product cost per unit × (1 + Target markup)

Target selling price per unit = $70 × (1 + 0.40) = $70 × 1.40 = $98 per unit

Therefore, the (a) total product cost per unit under absorption costing is $70, and (b) the target selling price per unit under absorption costing is $98.

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What are federal income taxes?

Answers

Answer:

Federal tax is the money used by the government of a country to pay for the growth and upkeep of the country. Some look at federal tax as "rent"

Explanation:

Income taxes im the United States are imposed by the federal government and most states

Income taxes are determined by applying a tax rate, which may increases, to texable income, which is the total income less allowable deductions.

Comparisons of per capita gross domestic product (GDP) between countries: Group of answer choices provide information about both market and non-market productive capacities. are misleading because GDP isn't always consumption plus investment plus government spending plus net exports. do not necessarily provide a good measure of relative living standards. provide an accurate gauge by which to judge living standards.

Answers

Answer:

do not necessarily provide a good measure of relative living standards.

Explanation:

Gross domestic product (GDP) can be regarded as total monetary/market value of finished goods/ services

that is been produced within a boarder of a country in a specific time period.

Per capita gross domestic product (GDP) can be regarded as metric used in breaking down the economic output per person of a country. This can be calculated by finding the division of the GDP of a country i.e using its population to divide the GDP.

It should be noted that Comparisons of per capita gross domestic product (GDP) between countries do not necessarily provide a good measure of relative living standards.

PLEASE HELP, MUST GET RIGHT NOW!
→Define Production trade-offs.
(in Economics)
*Understandable definition*

Answers

\(Question\)

→Define Production trade-offs.

(in Economics)

Answer:

In economics, a trade-off is defined as an "opportunity cost." For example, you might take a day off work to go to a concert, gaining the opportunity of seeing your favorite band, while losing a day's wages as the cost for that opportunity.

Hope this helps!!

-xXxAnimexXx-

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