Omar Company erroneously overstates the ending inventory by $10,000 for the year ended December 2016 while using the periodic inventory system.
If Omar discovers this error in 2017, it should rectify it by making the following two journal entries:The first entry will correct the 2016 accounts, and the second entry will report the adjustment in the 2017 accounts. The entry to adjust the 2016 accounts will entail crediting the inventory account by $10,000, and debiting the cost of goods sold account by $10,000. As a result, the $10,000 overstatement in the ending inventory will be corrected for 2016.The following year, 2017, the company will make an adjusting entry to reflect the adjustment made in 2016. A $10,000 debit will be made to the beginning inventory account in 2017, and a credit of $10,000 will be made to the retained earnings account. Since the overstatement was corrected in 2016, the beginning inventory balance for 2017 should be lower by $10,000. Hence, to restore the correct opening balance for 2017, a debit of $10,000 will be made in the beginning inventory account. The overstatement of inventory will not affect the income statement of the company as it has already been accounted for in 2016's cost of goods sold.
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Tell me about a time you tried to sell a customer, teammate, or someone else on an idea, product, or service. describe the situation, your actions, and the outcome
will give brainliest answer
does not have to be work related
To try to sell a product or idea we must use valid arguments and connect attitudinally with the people to whom we offer them.
What is a sale?A sale is a transaction in which a product or service is exchanged for money.
What experiences do we have selling something?One experience we have selling something was when we built some wooden toys to sell to my friends and family as Christmas souvenirs.
For them I had to call them and send them an email with pictures of the toys. In general, we highlighted the most striking features of the toys and had a positive attitude to convince buyers.
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Lana has worked on many teams before, but she always felt like she ended up doing a lot of the work. If Lana could form her own team, she should look for someone who _____. a. has good communication skills b. has a positive attitude c. does their share of the work d. All of the above
Answer:
D: All of the above
Explanation: Because she can tell each person what specific thing she wants them to do.
Have a nice day!!
Lana has worked on many teams before, but she always felt like she ended up doing a lot of the work. If Lana could form her own team, she should look for someone who has good communication skills, has a positive attitude and does their share of the work. Hence, option D is correct.
What is communication skills?Communication is the capacity to effectively transmit or exchange ideas and thoughts. Many experts agree that good communication skills require delivering messages without misleading or deceiving others. Communicating clearly with a range of people from different backgrounds.
Communication skills are the abilities you employ when providing and receiving various forms of information. Examples include sharing original ideas, feelings, or even a project update. The four Cs of communication are compassion, compassion, compassion, and compassion.
Thus, option D is correct.
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How much does the sky weigh?
Answer: 11 billion billion pounds
Explanation:
Answer:
The sky weighs 14.7 lbs per square inch of earth surface which is roughly 11 billion billion pounds. So, you can say that sky weighs one millionth of the mass of the Earth.
Explanation:
Look at the following email (attached). Name two good email netiquette practices used in the
email. Name two poor email netiquette practices
Two good email etiquettes practices used in email are:
Inserting a SubjectKeep the email short and restricted to three paragraphs.Two bad email etiquettes used in the email above are:
Indiscriminate use of the exclamation markDiscussing personal issues in a formal email.What are email etiquettes?The use of acceptable language, standards, and politeness in an email is referred to as email etiquette. Business emails often need formal language as well as rigorous respect to appropriate grammar and spelling.
Five useful E-mail Etiquette are:
Address your addressee appropriately. Check, double-check, and triple-check that you have the right spelling of the recipient's name and title.Proper greetings and closing statements should be used.Format correctly.Avoid using ALL CAPS.Large files should be compressed.Learn more about email etiquette:
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Economic freedom means more than being able to buy the things you want. It means that you have the freedom to choose _________________________.
Answer:
your career, your employer, and your job location.
Explanation:
The concept of economic freedom means, in addition to the power to choose what to buy due to the variety of goods and services available in a competitive market. Economic freedom in society qualifies the individual as an economic agent capable of using the resources he has to build his professional life, his career and choose his place of work.
Which of the following is true of unethical behavior?
A. It may cause people to lose trust in you.
B. It may be prevented by creating conflicts of interest.
C. It is always illegal.
D. It is regulated by administrative law.
Answer:
Its A
Explanation:
the person above me is wrong.
It may be prevented by creating conflicts of interest is true of unethical behavior. As it supports the morally correct behavior of the person.
What is unethical behavior ?Unethical behavior is defined as behavior that goes against what is morally right or proper for a person, profession, or industry.
On the other side, ethical behavior is doing the right thing, whereas unethical action is the opposite.
Thus, option B, prevented by creating conflicts of interest is correct.
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a production function in which the inputs are perfectly substitutable would have isoquants that are: group of answer choices convex to the origin. l-shaped. linear. concave to the origin.
A production function in which the inputs are perfectly substitutable would have isoquants that are linear. This is because when inputs are perfectly substitutable, they can be interchanged at a constant rate without affecting the level of output.
Therefore, any combination of inputs that produces a given level of output can be replaced by an equivalent combination of inputs in a linear fashion. This results in isoquants that are straight lines, or linear, as opposed to convex or concave curves. The concept of perfectly substitutable inputs is often used in the study of economics to analyze the behavior of firms and industries in different market settings. Understanding the shape of isoquants can help firms determine the most efficient combination of inputs to produce a given level of output, which can ultimately lead to increased profitability.
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Scenario: NewTel, Inc.
NewTel is a telephone company with a policy of filling positions internally, through promotions, rather than hiring from outside. Until recently, the company had a strong engineering focus and tended to promote people into senior executive positions from the engineering areas. Consequently, almost all of the company’s 14 senior executives joined the company over 20 years ago in junior engineering positions. There is increasing pressure on NewTel to become more marketing and service-oriented. As a result, four people were hired last year from consumer products and retail firms to fill new senior executive positions in marketing and service management. The external hires were necessary because current employees were not sufficiently qualified. Now there are signs of tension among senior executives, particularly during budget deliberations where there is limited discretionary spending on new corporate activities. The four new hires have been frustrated in their attempts to have the company put more money into marketing and customer services instead of technology investment. The conflict episodes are viewed by both sides as personal attacks rather than attempts to resolve the problem.
The four new hires’ attempt to have the company put more money into marketing and customer services instead of technology investment. This is mainly an example of conflict due to:
A. role ambiguity.
B. lack of communication.
C. sequential task interdependence.
D. overt behaviors.
E. goal incompatibility.
Answer:
E. goal incompatibility.
Explanation:
Analyzing the scenario above, it is possible to see that the cause of the conflict is due to incompatibility of goals, that is, there are different objectives and goals between the teams and organizational departments, which causes a lack of consensus that culminates in the conflict.
This is a negative situation for the company, which is a set of systems that must operate in favor of the same objectives and goals. in order to listen to all the parties involved, and then start from a principle where everyone feels heard and integrated in the development of organizational goals, creating an environment of trust and positive relationship in the company.
You have been given the choice to invest $1,200 each year in an account that is expected to pay 3 percent per year or you can invest in an account that pays 4 percent. What is the difference between the returns, if you choose to invest for four years
Answer:
$4872.48
Explanation:
future value = amount x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
r = 4% - 3% = 1%
1200 x [(1.01)^4 - 1] / 0.01 = $4872.48
3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Which means the same as human resources?
Answer: manpower
Explanation:
Answer:
HR, forces, personal, staff
Explanation:
these are all commonly used terms for human resources
What are some benefits of paying taxes? Check all that apply.
ensuring that the needs of the nation are fulfilled
paying for public works such as highways and museums
reducing the amount of money consumers can spend
slowing growth in the economy
paying for government programs that help citizens
Answer:
A,B,E
Explanation:
got it right on test
Answer:
a b e
Explanation:
right on edge
Which of the following is an advantage of having a common currency in the EU?
This allows for easier trading and investing
low exchange rate
threatened with inflation because of the war
Advantage of having a common currency in the EU Easier trading and investing.
What is trading and investing?Trading and investing are two financial activities that involve the purchase and sale of securities. Trading involves the buying and selling of securities in order to generate short-term profits. This is often done through the use of technical analysis and leveraging movements in the market. Investing, on the other hand, is the purchase of securities with the aim of generating long-term gains. Investors often analyze the fundamentals of companies, such as earnings per share, profit margins, and debt levels, when selecting stocks. Investing can also include the purchase of bonds, mutual funds, and other investments. Both trading and investing carry inherent risks and require research before any decisions are made.
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Why is it common for producers of services to sell through short distribution channels directly to the end user
Answer: “The people providing the service often fo so by interacting directly with the user”
Explanation: just took the quiz
Answer: B. The people providing the service often fo so by interacting directly with the user
Explanation: I just took the quiz and the answer was correct
What refers to the study of your strengths and weakness and the identification of your area of interest?
Answer:
Personality inventory
Explanation:
Why is the price floor above the equilibrium point and the price ceiling below the equilibrium point? Please explain as well!
Answer:
THE GIVEN STATEMENT IS WRONG.
The prices and the quantities of the products are usually set up by considering demand and supply. Sometimes, people may not agree with the price of a certain thing. Due to these reason, the government may set a maximum and minimum price limits on a product so it always remains in a certain range.
The upper limit is Price Ceiling. When a Price Ceiling is set below the equilibrium point, the demand will exceed the supply and shortages will occur.
The lower limit is Price Floor. When a price floor is set above the equilibrium point, the supply will exceed the demand, resulting in surplus quantity of a product
Kela Corporation reports net income of $450,000 that includes depreciation expense of $70,000. Also, cash of $50,000 was borrowed on a 5-year note payable. Based on this data, total cash inflows from operating activities are:
Answer:
$520,000
Explanation:
Kela corporation reports a net income of $450,000
The depreciation is $70,000
A cash of $50,000 was borrowed on a 5-year note payable
Therefore, the total cash inflows from operating activities can be calculated as follows
= Net income+depreciation
= $450,000+$70,000
= $520,000
Hence the total cash inflow from operating activities is $520,000
the balanced scorecard relies on four processes to bind short-term activities to long-term objectives. what are they?
The balanced scorecard relies on four processes to bind short-term activities to long-term objectives - Translating the vision, Communicating and linking, Business planning, Feedback and learning.
What is a balanced scorecard?A strategic management performance indicator known as the balanced scorecard (BSC) is used to identify and enhance various internal business activities and the results they have on the outside world. Balanced scorecards are a widespread tool used by businesses in the United States, the United Kingdom, Japan, and Europe to measure and provide feedback to organisations. In order to provide quantitative results, data collecting is essential because managers and executives must acquire and analyse the data. The decision-making of company personnel for the future of their organisations can be improved with the help of this knowledge.
The balanced scorecard was initially developed by business leader and theorist Dr. David Norton and accounting professor Dr. Robert Kaplan. It was initially published in 1992 in the Harvard Business Review article "The Balanced Scorecard—Measures That Drive Performance."
The 4 activities are:
1. Translating the vision
2. Communicating and linking
3. Business planning
4. Feedback and learning
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free brainiest +
your welcome by the way only if two people answer +
Answer:
thanks
Explanation:
have a good day
Determining Liquid Assets and Current Liabilities. Based on these items, what is the total of the (a) liquid assets and (b) current liabilities?
Checking account balance $860
Retirement account balance $57,000
Credit card balance $117
Coin collection $450
Savings account balance $2,675
Current student loan payment due $220
Investment account balance $8,000
Mortgage $178,000
Pls help with step 3
I have until 11:59 to submit : (
6.02 Rethotic rev up
A speech analysis of Martin Luther's 1950 speech should show the usage of ethos, pathos, and logos in the address.
How to write the analysisOn the occasion of the American Civil Rights movement in 1950, Martin Luther King gave an address titled "I Have a Dream." In this address, he employed strategies like pathos, logos, and ethos. The usage of pathos is seen in the appeal to the feelings of the people.
For instance, he mentioned the difficulties suffered by the blacks because of their race. He appealed to ethos by mentioning his status as a leader of the black group and a Baptist Minister. He also appealed to logos by referring to history.
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what is the normal means of delivery on a treasury note futures contract? multiple choice delivery in cash change in registered ownership direct deposit of cash into the seller's bank account wire transfer of funds from the buyer's bank to the seller's bank payment by certified check on the maturity date
The normal means of delivery on a Treasury note futures contract is "delivery in cash." The correct answer is option a.
When the contract reaches its expiration, the seller delivers the Treasury notes to the buyer in exchange for a cash payment equal to the contract's face value. This means that physical delivery of the underlying Treasury notes does not occur.
Instead, the buyer receives the cash equivalent of the Treasury notes' value. This approach is commonly used in futures markets to facilitate trading and avoid the logistical challenges of physical delivery.
Cash settlement allows for greater flexibility and efficiency in completing futures contracts, as it eliminates the need for physical transfer of the underlying asset. It also reduces transaction costs and streamlines the process for both buyers and sellers.
The correct answer is option a.
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Complete question
what is the normal means of delivery on a treasury note futures contract? multiple choice
a. delivery in cash
b. change in registered ownership
c. direct deposit of cash into the seller's bank account
d. wire transfer of funds from the buyer's bank to the seller's bank
e. payment by certified check on the maturity date
Explain in three sentences what “a decision to communicate constructively” means
A decision to communicate means to communicate positively, offering help and support, and it doesn’t involve criticism and dispiriting. It a method of communicating more effectively and efficiently. In addition, communicating constructively is a way to present your points to a person or audience so they can understand them.
You purchased 100 shares of stock value at $55 per share. The stock value increases to $85 per share what was the rate of increase?
Answer:
54.55%
Explanation:
The purchasing price is $55
Price has increased to $85.
The monetary increase = $85 - $55 = $30
As a percentage , the increase will be
=$30/$55 x 100
=0.545454 x 100
=54.5454%
=54.55%
This is all apart of one question I promise. This is for a Marketing Class. Answer each separately please.
Describe some ways in which Zappos uses digital media tools. How does Zappos encourage word-of-mouth marketing through digital media? How does Zappos use digital media to create an authentic relationship with consumers?
Zappos, an online retailer known for its customer-centric approach, effectively utilizes various digital media tools to enhance its marketing efforts.
Zappos is an online retailer that has become synonymous with exceptional customer service and a customer-centric approach. Founded in 1999, Zappos has built a reputation for providing a wide range of products, with a particular focus on footwear and apparel. However, what truly sets Zappos apart is its commitment to creating an exceptional customer experience. From its hassle-free return policy to its 24/7 customer service, Zappos goes above and beyond to ensure customer satisfaction.
The company's success can be attributed to its core values of delivering happiness, fostering a positive company culture, and embracing innovation. Zappos has become a prime example of how a strong customer focus can lead to long-term success in the online retail industry.
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When a startup wants to offer stock on the stock market, they go from a private to a public company.
Answer:
true...u didn't wrote if u want answer it or not but its true
Cost of attendance is the amount of money it costs to complete:
• A. at least one semester as a part-time student.
B. one year as a part-time student.
• c. one semester as a full-time student.
• D. one year as a full-time student.
Option D is correct. The cost of attendance is the amount of money it costs to complete one year as a full-time student.
The cost of attendance (COA) is an estimate of the total amount of money it will cost to attend a particular college or university for one academic year. It is used by the school's financial aid office to determine a student's eligibility for financial aid, including grants, scholarships, and loans. The cost of attendance varies depending on the school and the student's individual circumstances, such as their residency status and the program or major they are pursuing.
Numerous institutions determine and publicise multiple costs of attendance, depending on the individual circumstances of their students. For undergraduate students, there might be various COAs depending on whether they commute from home, reside off-campus, or live on campus. Different COAs are listed by state institutions and colleges for in-state and out-of-state students. Students in graduate programmes and professionals may have distinct COAs.
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Which statement best explains the law of demand?
O The quantity demanded by consumers increases as prices rise, then decreases as prices fall.
O The quantity demanded by consumers decreases as prices rise, then increases as prices fall.
O The quantity demanded by producers increases as prices ise, then decreases as prices fall.
O The quantity demanded by producers decreases as prices rise, then increases as prices fall.
The correct answer is The quantity demanded by consumers decreases as prices rise, then increases as prices fall.
Explanation:
The demand or desire of consumers to buy a certain product is widely affected by the price of the desired product. Indeed, a low price leads to a higher demand because consumers can buy more units of the same product and this motivates them to buy more; while a high price decreases the demand.
For example, if donuts normally cost $1 and their price decreases to $0.5 this will increase the demand or number of donuts people want people they can buy more units and the product can be afforded by more people. On the opposite, if the price increases to $2 people will buy fewer donuts because these would not be affordable for some people, and in general people will spend more money on each donut.
Answer:
the option is b on edge......
Which type of networking doesn't require a password to access
A Wi-Fi network connection with Wi-fi protected setup (WPS) for a home or a small environment doesn't require a password to access the networking system.
What is a password?Password is a code that helps in securing the data maintained on a computer or laptop. it also helps in securing the data from any unauthorized access.
WPS is a kind of network security that enables a protected wireless network for a home or a small surrounding. It allows a faster network connection between a router and any portable wireless device.
Therefore, the Wi-Fi network with WPS security requires no password to access the network.
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While Jon Lune was on a business trip, he asked Abby Simpson, the bookkeeper for Lune Co., to try to complete a balance sheet for the year ended December 31,2022 . Abby, who had been on the job only two months, submitted the following: 1. Help Abby fix and complete the balance sheet. 2. What written recommendations would you make about the bookkeeper? 3. Suppose that (a) Jon Lune invested an additional $20,000 in cash as well as additional desks with a value of $8,000 and (b) Lune Co. bought a car for $6,000, paying $2,000 down and issuing a note payable for the balance. Prepare an updated balance sheet. Assume that these two transactions occurred on January 4 of the next year. Preparing accurate balance sheets o (30 min) 4 of the next year. Preparing accurate balance sheets
Here's the balance sheet for Lune Co. as submitted by Abby Simpson, and also the recommendations that can be made about the bookkeeper:
Balance Sheet
Lune Co.
December 31, 2022
Assets
Cash $25,500
Accounts receivable 9,000
Inventory 10,500
Equipment 32,000
Less: Accumulated depreciation (5,000)
Net equipment 27,000
Total assets $72,000
Liabilities and Shareholders' Equity
Accounts payable $14,500
Note payable (long-term) 9,000
Common stock 32,000
Retained earnings 16,500
Total liabilities and shareholders' equity $72,000
The recommendations that can be made about the bookkeeper are as follows:
Provide Training and Support
It would be useful to provide more training and support to Abby, as she is new to the job and may not have the necessary experience or expertise to complete a balance sheet accurately.
Set Realistic Expectations
Jon Lune should set realistic expectations for Abby, particularly given that she is new to the job. This will help to ensure that she is not overwhelmed and can focus on learning and growing in her role.
Establish a System of Checks and Balances
Finally, it would be useful to establish a system of checks and balances to ensure that errors are caught early and that corrective action can be taken promptly. This will help to ensure the accuracy of financial statements and prevent errors from causing larger problems down the line.
Updated Balance Sheet for Lune Co. as of January 4, 2023
Assets
Cash $45,500
Accounts receivable 9,000
Inventory 10,500
Equipment 32,000
Less: Accumulated depreciation (5,000)
Net equipment 27,000
Total assets $124,000
Liabilities and Shareholders' Equity
Accounts payable $14,500
Note payable (long-term) 13,000
Common stock 32,000
Retained earnings 64,500
Total liabilities and shareholders' equity $124,000
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