Al's gross Income for 2021 using the cash basis of accounting is $280,000.
a. to compute al's gross income for 2021 using the cash basis of accounting, we consider the cash received during the year:
cash collected in 2021 for services provided in 2021: $280,000 b. to compute al's gross income for 2021 using the accrual basis of accounting, we consider both cash received and accounts receivable:
cash collected in 2021 for services provided in 2021: $280,000
accounts receivable at the end of 2021 (for services rendered in 2021): $60,000
gross income for 2021 using the accrual basis of accounting:
cash collected in 2021: $280,000
accounts receivable at the end of 2021: $60,000
total gross income for 2021: $280,000 + $60,000 = $340,000
c. in terms of which method of accounting al should use, it is generally recommended for professionals such as physicians to use the accrual basis of accounting. here's why:
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Trish Himple owns a retail family clothing store. Her store is located at 4321 Heather Drive, Henderson, NV 89002. Her employer identification number is 95-1234321 and her Social Security number is 123-45-6789. Trish keeps her books on an accrual basis. The income and expenses for the year are:
Answer:
Trish has income of $211,000
Expenses are $186,000
Explanation:
Income :
Returns and Allowances $340,000
Cost of Goods Sold $326,000
Other deductions $14,000
Gross Profit is $211,000
the ability to meet or satisfy basic economic, social, and security needs now and in the future without undermining the natural resource base and environmental quality is
The ability to meet or satisfy basic economic, social, and security needs now and in the future without undermining the natural resource base and environmental quality is sustainability.
Sustainability refers to achieving goals and objectives without affecting the capacity of coming generations to achieve their goals. In addition to natural resources, a nation needs social and economic resources. It involves finding a balance among the economic, social, and environmental variables. To achieve sustainability, people must ensure that their social and economic systems don't destroy or deplete the environment's natural resources.
Some of the sustainable goals are the end of poverty and hunger, achievement of gender equality, ensuring healthy lives and promoting well-being for all etc. Thus, people must embrace behaviors that are long-term economically feasible, socially just, and environmentally friendly. By encouraging sustainability, it can be ascertained that the planet and its resources are preserved for benefit of succeeding generations. Further, it will safeguard the ecosystem, improve the quality of our lives, and protect natural resources.
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which 2 quickbooks subscription levels would support a client who needs to track how much inventory is in stock at any given time?
Price rules
-Profit and Loss by Customer Report
Recurring transactions
Customer Statements
-Projects
Both of these subscription levels provide the necessary tools to track inventory and manage stock levels effectively. The two QuickBooks subscription levels that would support a client who needs to track inventory are:
QuickBooks Online Plus: This subscription level offers inventory tracking features, allowing you to track and manage your inventory quantities, costs, and values. It provides tools for tracking stock levels, creating purchase orders, and managing inventory items. Additionally, QuickBooks Online Plus offers other features such as Profit and Loss by Customer Report and recurring transactions. QuickBooks Online Advanced: This subscription level includes all the features of QuickBooks Online Plus, including inventory tracking capabilities. In addition, QuickBooks Online Advanced offers more advanced inventory management features such as serial number tracking, multiple location tracking, and custom fields for tracking specific inventory details. This level also provides features like Customer Statements and Projects, which can be beneficial for managing customer accounts and tracking project-related expenses. Both of these subscription levels provide the necessary tools to track inventory and manage stock levels effectively. The choice between the two would depend on the specific needs and requirements of the client, as QuickBooks Online Advanced offers more advanced inventory management features beyond basic tracking.
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Explain the importance of leisure activities.
Answer:
leisure activities improve the productivity of people
Explanation:
if you feel stressed and then go to a water park, you will get less stressed right?
Which of these should not affect your personal finance decisions?(1 point)
Responses
your character
your lifestyle goals
your tolerance for risk
your language
Answer:
I think it's your language
Answer: 1. the ability to understand how to make sound financial choices so you can confidently manage and grow your money
2.the CEO of The Finance Bar
3.the financial management which an individual or a family unit performs
4.your language
5. -a notebook for your homework
-lunch brought from home
Explanation: I took the quick check
Which statement about the Federal Reserve (the Fed) is true?
O Unless a person works there, the Fed has little impact on everyday life.
O The Fed determines the criteria banks must use to evaluate loan requests.
O The Fed sets monetary policy, which affects the interest rates banks offer.
O Because it is independent, the Fed reviews and approves the national budget.
A statement that is true on the Federal Reserve is that C. The Fed sets monetary policy, which affects the interest rates banks offer.
What does the Federal Reserve do ?The American central bank is known as the Federal Reserve System (FRS). It is conceivably the most potent financial organization in the entire globe and is sometimes referred to as "the Fed." It was established to give the nation a secure, adaptable, and stable financial and monetary system.
Its primary duties include controlling the money supply, establishing interest rates, and overseeing the financial system. In times of economic crisis, it also serves as a lender of last resort, as was shown during the financial crisis of 2008.
These powers of the Federal Reserve mean that it is the one which sets the monetary policy of the United States. This monetary policy will then affect the interest rates on loans, offered by banks.
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Assuming the firm is motivated by self-interest and that the 20 units that can be produced with each technique can be sold for $2 per unit, the firm will:_______--
Assuming the firm is motivated by self-interest and each unit can be sold for $2, the firm's decision will depend on the costs and revenues associated with each technique. To determine the best course of action, we need to compare the total costs and revenues for each technique.
Let's say there are two production techniques available, Technique A and Technique B, both capable of producing 20 units. We need to analyze the costs and revenues for each technique.
For Technique A:
- Total revenue: 20 units * $2 per unit = $40
Now, let's consider the costs associated with each technique:
For Technique A:
- Total cost: $10 (hypothetical value)
To determine the firm's decision, we need to calculate the profit or loss for each technique. Profit is calculated by subtracting total costs from total revenue:
For Technique A:
- Profit: Total revenue - Total cost = $40 - $10 = $30
If the firm is motivated by self-interest, it will choose the production technique that generates the highest profit. In this case, Technique A yields a profit of $30.
Assuming the firm is motivated by self-interest and each unit can be sold for $2, the firm will choose Technique A if it generates the highest profit. However, please note that the actual costs and revenues may vary, so it is essential to consider the specific values for accurate decision-making.
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which of the following is one of the major factors determining the level of wages.
questions. question numbers (1.1.1 to 1.1.5) in the ANSWER BOOK, e.g. 1.1.10 C 1.1.1 A problem-solving technique where a team of experts are given ques to obtain their opinions without bringing them to the same place. A. Force-field 8. Empty chair C. Brainstorming D. Delphi 1.1.2... is aimed at facilitating change in the business. A. Force-Field technique B. Delphi technique C. Chair technique D. Empty chair technique 1.1.3 The... can be used as a form of non-verbal communication. A. Pie chart B. Informal conversations C. Indigenous knowledge D. Panel discussions 1.1.4. Which one of the following is a research instrument? A. Market research B. Nominal group technique C. Flyer D. Questionnaire 1.1.5.... is one of the of legal requirements that a business must comply with A. National Credit Act B. Size of the business C. Legal protection D. Number of owners required
The force-field analysis method in social science offers a framework for examining the variables (or "forces") that affect a situation, originally social circumstances. It examines factors that are either promoting movement toward a goal (helping factors) or impeding that advancement (hindering forces).
Hence, Delphi, Force-Field technique, Pie chart, Questionnaire, and Legal protection. These are the answers respectively.
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Which of the following does NOT describe an approach for buying national brand merchandise?
A. Buyers meet national brand vendors in wholesale market centers.
B. Buyers attend trade shows to see the latest products and styles.
C. Buyers using reverse auctions.
D. Buyers discuss the performance of the vendor's merchandise during the previous season during
market weeks.
E. Vendors meet with buyers at their offices to review and reorder last week's best sellers.
The correct answer is C. Buyers using reverse auctions does not describe an approach for buying national brand merchandise. Reverse auctions involve suppliers bidding against each other to win a buyer's business, and this is more commonly used for procuring goods or services from a wide range of suppliers.
When it comes to buying national brand merchandise, buyers typically meet national brand vendors in wholesale market centers, attend trade shows to see the latest products and styles, discuss the performance of the vendor's merchandise during the previous season during market weeks, and vendors meet with buyers at their offices to review and reorder last week's best sellers. These approaches allow buyers to negotiate pricing, explore new products, and build relationships with vendors to ensure that their stores have the most popular and profitable merchandise available for customers.
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Why do lenders often require a down payment when credit is used to purchase a good?
Answer:
see below
Explanation:
A down payment is a lump-sum amount paid a borrower raises when purchasing an asset on credit. The down payment or deposit is paid to the lender and reduces the credit to be extended. Usually, the lender will demand a down payment of up to 20% of the asset's value.
The down payment reduces the risk a lender takes in advancing the loan to the borrower. It reduces the loan amount involved. The down payment shows the borrower is financially stable. If they can raise 20 percent of the amount, it gives the lender confidence that the borrower can repay the loan. A down payment shows the borrower is a low-risk customer
_____ is a term used to describe others taking advantage of a user or service without providing any sort of reciprocal benefit.
Answer:
Free rider problem
Explanation:
(NEED HELP ASAP)Which is a possible effect of identity theft?
Increased savings balance
Increased purchasing power
Decreased credit score
Decreased debt to credit load
The possible effect of identity theft is "Decreased credit score."
This is because when an identity of a credit card owner is stolen, often the stealer tends to use the information of the credit card owner to borrow more money or buy expensive goods and run away with it.
This often leads to more debt for the original credit card owner.
In turn, having more debt on a single credit card without repayment as at when due leads to "Decreased credit score."
Hence, in this case, it is concluded that the correct answer is option C. "Decreased credit score."
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Answer:
Decreased credit score
emery mining inc. recently reported $115,000 of sales, $68,500 of operating costs other than depreciation, and $11,800 of depreciation. the company had $16,500 of outstanding bonds that carry a 7.25% interest rate, and its federal-plus-state income tax rate was 25%. how much was the firm's net income? the firm uses the same depreciation expense for tax and stockholder reporting purposes. (round your intermediate and final answers to two decimal places.)
The company's net income was $25,127.81.
Net Income: What is it?Net income is the amount that a person or business makes after expenses, reimbursements, and taxes. The amount left over after costs like salaries and wages, the price of goods or raw materials, and taxes have been paid is known as a company's net income.
In the simplest terms, net profit is the sum that is left over after expenses are paid. Either the corporation keeps the revenues as part of retained earnings or common investors can elect to receive dividends on net income. On an annual basis, per fiscal year, net income is frequently estimated.
Net income is defined as an entity's revenue less costs, depreciation and amortization, interest, and taxes for a specific accounting period in both business and accounting.
Sales $115,000
Less: operating costs $68,500
Less: depreciation $11,800
Earnings before interest and tax $34,700
Less: interest expenses ($16,500 * 7.25%) $1,196.25
Earnings before tax $33,503.75
Less: tax (25%) $8,375.94
Net income $25,127.81
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he left the clinic. start's with that
Answer:
sí, salió de la clínica
Explanation:
What are 3 key takeaways you have about investing in a 401(k) plan that will help you when you’re ready to make this decision in the real world?
Explanation:
1. Always be sure to contribute enough to a 401(k) to qualify for matching contributions from your employer.
2. Be aware of the underlying costs and fees of the various investments within your retirement plan.
3. You can contribute to both a personal IRA and a 401(k) plan at work.
A 401(k) plan is a type of retirement savings plan sponsored by an employer. It allows employees to contribute a portion of their pre-tax salary to a retirement account, which is then invested in a selection of mutual funds, stocks, bonds, and other assets.
These contributions and the earnings on them grow tax-deferred until they are withdrawn, typically in retirement.
One of the key benefits of a 401(k) plan is that many employers offer a matching contribution, which can help boost the account balance.
Additionally, 401(k) plans often offer a range of investment options and allow for convenient automatic contributions, making it easier for individuals to save for retirement. However, there may be fees associated with the plan, and early withdrawals may result in penalties.
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'Market management is the key element for a business' Justify this statement with an example.
Answer:
Explanation:
Marketing Management is the key element for a business because it enables the business to generate revenue, gain new customers, and establish the brand. It ensures that the business is profitable by analyzing and aligning the company's goals.
Depending on the industry and marketing objectives of an organization, marketing management can mean many things. As the name implies, marketing management performs managerial tasks in the field of marketing, including, but not limited to, planning and decision-making before, during, and after the execution of marketing plans.
An example of marketing management is creating an advertising plan and implementing it. Another example is the expansion of business via mergers and acquisitions.
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answers for question 11!!!!
Answer:
C!!
Explanation:
Two Major Types of Markets • Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them. Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.
the financial statement effects of an employer's entry to record payroll obligations for a payroll period include:
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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A dairy plant is producing cream from milk with a fat content of 6% by weight. The cream is to have a fat content of 50% by weight and the skimmed milk produced as a byproduct has a fat content of 1%. Milk supplied to the creamery at a rate of 100 US tons per day. What is the daily skim milk production?
The daily skim milk production is 144 US tons with a fat content of 0%. fat content in the skimmed milk and the fat content in the cream produced.
To calculate the daily skim milk production, we need to determine the fat content in the skimmed milk and the fat content in the cream produced.
Let's start with the fat content in the cream:
- The milk supplied to the creamery has a fat content of 6%.
- The cream to be produced needs to have a fat content of 50%.
- The fat content in the cream is increasing from 6% to 50%.
The amount of fat content removed from the milk to produce cream can be calculated as:
Amount of fat content in cream = Amount of milk supplied * (fat content in milk - fat content in cream)
= 100 US tons * (6% - 50%)
= 100 US tons * (-44%)
= -44 US tons
Since we cannot have a negative amount of fat content, we can conclude that the fat content in the skimmed milk is 0%.
Now, let's calculate the daily skim milk production:
Amount of skimmed milk produced = Amount of milk supplied - Amount of cream produced
= 100 US tons - (-44 US tons)
= 144 US tons
Therefore, the daily skim milk production is 144 US tons with a fat content of 0%.
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Analyse why the supply of agricultural products tends to be more inelastic than the supply of manufactured products
The reason is that agricultural products have a more rigid supply since they are perishable.
What is price inelasticity?Demand is elastic when it reacts to changes in price or other variables. Demand is said to be inelastic if it does not change as other economic factors do.
The quantity sought for a good is measured according to its price elasticity of demand. Almost all goods see a decrease in quantity demanded when prices rise, however, certain goods experience this decrease more than others.
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If the buyer, who has signed a buyer broker contract, finds a For Sale by owner, then?
Answer:
Then the buyer must tell the broker and have him set up an appointment and handle the negotiations.
Explanation:
If you sign for a buyer-broker contract, then you should know that the broker must be the essential 'lead' when it comes to, say, buying a house.
define human resources
Answer:
Human resources (HR) is the division of a business that is charged with finding, screening, recruiting, and training job applicants, as well as administering employee-benefit programs.Human resources is the personnel of a business or organization, regarded as a significant asset in terms of skills and abilities.Human resources are defined as the people employed by a company or the department in a company in charge of hiring, training, benefits and records.Hope it helped u
PLEASE HELP SOON WILL GIVE BRAINLIEST
How does a consumer complaint benefit the manufacturer?
A. The complaint notifies the manufacturer of a possible issue.
B. The complaint is registered with the government.
C. The complaint tells the manufacturer they did something wrong.
D. The complaint leads to an investigation.
Answer:
A. The complaint notifies the manufacturer of a possible issue.
Explanation:
this lets the manufacturer become aware of any issues- this benefits them
A consumer complaint benefit the manufacturer by Option(A) The complaint notifies the manufacturer of a possible issue.
What is a consumer and a manufacturer ?A consumer is a person or a group who intends to order uses purchased goods, products primarily for personal, social household and similar needs, not directly related to any of business activities.
A manufacturer is a person or company that produces finished goods from raw materials by using various tools, equipment, and processes, and then sells the goods to consumers distributors, retailers, or to other manufacturers for the production and make their profit out of it.
How does a consumer complaint benefit the manufacturer ?A consumer make any complaint to the manufacturer if after taking the product or using it , the consumer founds any flaws or mistakes in it which might not be notified by the manufacturer.
Therefore, a consumer complaint benefit the manufacturer by Option(A) The complaint notifies the manufacturer of a possible issue.
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when was the last time the us defaulted on its debt
The last time the U.S. defaulted on its debt was on August 15, 1971, when it temporarily suspended the convertibility of the U.S. dollar into gold.
The United States experienced a significant event related to its debt on August 15, 1971, known as the "Nixon Shock." During this time, President Richard Nixon announced the suspension of the convertibility of the U.S. dollar into gold.
This action effectively ended the Bretton Woods system and marked a departure from the previous gold standard. While this event is often considered a form of default, it is important to note that it was not a traditional default where the U.S. failed to make interest or principal payments on its debt. Instead, it represented a significant policy shift impacting the value and convertibility of the U.S. currency.
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The United States has never officially defaulted its debt. The closest instance to a default situation occurred in 2011 and later in 2013 when the debt ceiling was reached, leading to substantial political debates and even a partial government shut down. Despite several deficits, the U.S. has managed to avoid an actual default.
Explanation:The United States has never officially defaulted on its debt. However, an instance closer to a crisis of default was in 2011 when the United States reached its debt ceiling, or maximum allowed debt amount. After much debate, the Budget Control Act was passed by Congress and signed by President Obama which increased the debt ceiling but also reduced spending and created automatic cuts if the debt was not addressed by 2013. When the country reached its new debt ceiling of $16.4 trillion in 2013, lawmakers negotiated both the debt ceiling and the national budget simultaneously, leading to a partial government shutdown.
For most of the twentieth century, the U.S. government took on debt during wartime and then slowly paid down that debt in peacetime. The country saw substantial debts in peacetime in the 1980s and early 1990s, before a brief period of budget surpluses from 1998 to 2001. It returned to annual budget deficits since 2002, with very large deficits in the recession of 2008 and 2009. Total government debt or national debt is the sum of budget deficits and budget surpluses over time.
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at a price below the equilibrium price, there is group of answer choices a surplus. a shortage. excess supply. sub-equilibrium.
When a price is below the equilibrium price, there is a shortage. So the correct response is option (b).
Write a note on equilibrium price.The only price at which consumer and producer plans coincide is the equilibrium price, which is reached when the quantity of a good that consumers want to buy (quantity requested) and the quantity of a good that producers want to sell (quantity supplied) are equal. The term "equilibrium quantity" refers to this universal quantity. The market is not in equilibrium at any other price because the quantity requested does not match the quantity provided.
Equilibrium is a synonym for harmony. There is no incentive for a market to move away from its equilibrium price and quantity. A market will have economic pressures to shift toward the equilibrium price and quantity, nevertheless, if it is not in equilibrium.
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A _____________ can include an internal review (a restatement of preceding points), an internal preview (a look ahead to upcoming points), or both.
An effective transition can include an internal review, which restates preceding points, an internal preview, which looks ahead to upcoming points, or both.
Transitions are important elements in communication that help guide the audience through the flow of information. An effective transition can serve different purposes, including providing an internal review or an internal preview, or sometimes incorporating both elements.
An internal review within a transition involves summarizing or restating the key points that have been discussed previously. This helps reinforce important information, refreshes the audience's memory, and provides a sense of coherence to the overall message. By briefly recapping the preceding points, the speaker ensures that listeners stay engaged and can better follow the subsequent content.
On the other hand, an internal preview in a transition gives the audience a glimpse of what is to come. It serves as a roadmap for the upcoming points or topics that will be covered in the presentation or discussion. This allows the audience to mentally prepare for the upcoming information and creates anticipation for what lies ahead.
In some cases, a transition may combine both an internal review and an internal preview. This comprehensive approach ensures that the audience is reminded of the main points covered so far while also providing a clear direction for what will be addressed next.
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what is letter head paper
Answer:
A letterhead, by definition, is a heading on the topmost sheet of your business paper. It carries your company name, address, contact details, and logo. It is meant to be used for all the documents and letters you create and send in your business. Letterheads are important because of their wide range of uses.
Answer:
A letterhead, by definition, is a heading on the topmost sheet of your business paper. It carries your company name, address, contact details, and logo. It is meant to be used for all the documents and letters you create and send in your business. Letterheads are important because of their wide range of uses.
I Taking Assignment Right Now And Have a Day.
Which of the following can a grocery store change in the long run?
A. the number of shelves, employees, and parking spaces in the parking lot
B. the type of grocery carts, magazine racks, and produce displays
C. the store location, sign on the storefront, and advertising on the media
D. all of the above
Answer:
I believe all of the above
Explanation:
went with what came to mind if its wrong very sorry.
A grocery store change, in the long run, is all of the above. Thus the correct option is D.
What is the importance of change?In order to remain in competition an organization needs to work on bringing change and innovation in the process as well as a product that helps them in achieving higher revenue by following trends and preferences.
If an organization adopts change frequently it shows its flexibility to cope with the demands of the market in order to meet the level of satisfaction of customers.
A grocery store that is planning to grow may eventually affect the number of shelves, staff, and parking places in the lot which helps in better services to their customers.
The design of the fruit displays, magazine racks, and grocery trolleys as well as the store's location, storefront sign, and media advertising can all help to increase sales and draw in more customers.
Therefore, option D is appropriate.
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What are some examples of companies providing consumers with goods?
Answer:
is this a multiple choice question?
Explanation: