The journal entries for Iphelia Payne to record the sale, return of merchandise, and payment received are as follows: On May 1, Iphelia Payne would record the sale by debiting Accounts Receivable for $70,000 and crediting Sales for $70,000. On May 4, the return of merchandise would be recorded by debiting Sales Returns and Allowances for $8,000 and crediting Accounts Receivable for $8,000. On May 13, the payment received would be recorded by debiting Cash for the amount received and crediting Accounts Receivable for the balance due.
1. On May 1, Iphelia Payne records the sale of merchandise on account to Bailey. The entry would be as follows:
- Debit: Accounts Receivable $70,000
- Credit: Sales $70,000
This entry reflects the increase in Accounts Receivable (the amount Bailey owes to Iphelia Payne) and recognizes the revenue from the sale.
2. On May 4, Bailey returns merchandise to Iphelia Payne. The entry would be as follows:
- Debit: Sales Returns and Allowances $8,000
- Credit: Accounts Receivable $8,000
This entry reduces the revenue previously recognized from the sale and decreases the amount owed by Bailey.
3. On May 13, Iphelia Payne receives payment from Bailey for the balance due. The entry would be as follows:
- Debit: Cash (amount received)
- Credit: Accounts Receivable (balance due)
This entry reflects the decrease in the Accounts Receivable balance and the increase in Cash due to the payment received.
By recording these journal entries, Iphelia Payne properly accounts for the sale, return of merchandise, and payment received in her financial records.
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The total accumulated value of foreign-owned assets at a given time is called the __________ of fdi.
The total accumulated value of foreign-owned assets at a given time is called the stock of foreign direct investment.
The overall level of direct investment at a specific moment, typically the end of a quarter or a year, is measured by foreign direct investment (FDI) stocks. The value of resident investors' equity in and net loans to businesses in other countries make up the outward FDI stock.
The value of foreign investors' shares in and net loans to domestically based businesses make up the inward FDI stock. FDI stocks are calculated as a percentage of GDP in USD. FDI forges enduring and reliable ties between nations' economies.
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A company is considering a $161,000 investment in machinery with the following net cash flows. the company requires a 10% return on its investments.
year 1 year 2 year 3 year 4 year 5
net cash flow $10,000 $27,000 $53,000 $40,000 $108,000
required:
a. compute the net present value of this investment.
b. should the machinery be purchased?
The net present value (NPV) of the investment in machinery is positive, indicating that the project is financially favorable. Therefore, the machinery should be purchased.
To compute the net present value (NPV) of the investment, we need to discount the net cash flows at the company's required rate of return, which is 10%. Using the formula for calculating NPV:
NPV = Cash Flow Year 1 / (1 + r)^1 + Cash Flow Year 2 / (1 + r)^2 + ... + Cash Flow Year 5 / (1 + r)^5 - Initial Investment
Where r is the required rate of return, and the initial investment is $161,000.
Calculating the NPV:
NPV = $10,000 / (1 + 0.10) ^1 + $27,000 / (1 + 0.10)^2 + $53,000 / (1 + 0.10) ^3 + $40,000 / (1 + 0.10)^4 + $108,000 / (1 + 0.10) ^5 - $161,000
Simplifying the calculation, we find:
NPV = $10,000 / 1.10 + $27,000 / 1.10^2 + $53,000 / 1.10^3 + $40,000 / 1.10^4 + $108,000 / 1.10^5 - $161,000
After performing the calculations, if the resulting NPV is positive, it means that the investment is expected to generate a return higher than the required rate of return, and therefore, it is financially favorable. In this case, if the NPV is positive, the machinery should be purchased. Conversely, if the NPV is negative, it would indicate that the investment is not expected to meet the required rate of return, and purchasing the machinery would not be advisable.
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Identify two reasons for a profit and loss statement to be created and distributed to there
stakeholders?
The two reasons for a profit and loss statement to be created and distributed to there stakeholders are - To demonstrate the financial success of the business, To inform decision-making.
A profit and loss statement is an important financial document used to summarize the financial performance of a business over a period of time. It is typically created and distributed to stakeholders, such as investors, lenders, and creditors, in order to provide an overview of the company's financial performance.
The two primary reasons for creating and distributing a profit and loss statement are:
1. To demonstrate the financial success of the business: A profit and loss statement provides a clear, comprehensive overview of the company's financial position over the stated period of time. This allows stakeholders to gain insight into how the company is performing and understand its overall financial health.
2. To inform decision-making: A profit and loss statement can be used to inform stakeholders of their investments and help them make informed decisions. The document also provides stakeholders with a way to compare the performance of their investments over different periods of time.
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selecting computers with epeat power supplies should reduce the annual operating cost of a computer by what?
Answer:
No
Explanation:
Which statement describes the relationship between risk and returns?
a) higher risks often leads to lower potential returns.
b) higher riskes often leads to higher potential returns.
c) lower risks often leads to higher potential returns.
d) moderate risks often leads to highest potential returns.
Answer:
B) higher riskes often leads to higher potential returns.
Explanation:
what is some ways to help people ?
Maxim manufactures a hamster food product called Green Health. Maxim currently has 10,000 bags of Green Health on hand. The variable production costs per bag are $1.80 and total fixed costs are $10,000. The hamster food can be sold as it is for $9.00 per bag or be processed further into Premium Green and Green Deluxe at an additional cost. The additional processing will yield 10,000 bags of Premium Green and 3,000 bags of Green Deluxe, which can be sold for $8 and $6 per bag, respectively. Assuming Maxim further processes Green Health further into Premium Green and Green Deluxe, revenue from the two products would be:
Answer:
$98,000
Explanation:
Calculation to determine the revenue from the two products would be:
Revenue if processed further:
Premium Green $80,000
(10,000 bags * $8 per bag) $80,000
Add Green Deluxe (3,000 bags * $6 per bag) $18,000
Total revenue if processed further $98,000
($80,000+$18,000)
Therefore the revenue from the two products would be:$98,000
Explain one advantage of adopting a centralised structure
Answer:
Centralized organizations are typically more efficient as far as assuring that a business decision made at the top is passed down through the organization. The CEO or other high-level company official passes a decision or policy to the next level down and this information is passed on down level by level.
Explanation:
Some advantages of central purchasing include reducing redundant work, lowering costs associated with training and supporting additional staff, and better control. Some disadvantages of central purchasing include increased complexity, delayed deliveries, and forgone local discounts.Advantages of a centralised management structure include: consistency across the business. the business has a clear direction. operations and decisions are closely controlled and managed.under which condition might the commission choose to extend a renewal without the licensee having to pay the required fees?
It's important to note that the commission's decision to extend a renewal without requiring payment of fees will depend on the specific circumstances and may vary depending on the jurisdiction and the regulations that govern the licensing process.
The commission might choose to extend a renewal without the licensee having to pay the required fees under certain conditions, such as:
During a period of economic hardship or crisis: In times of economic hardship or crisis, the commission may choose to provide relief to licensees by waiving or reducing fees.
When the licensee has demonstrated financial hardship: If the licensee has experienced financial hardship, such as a significant decline in revenue or other financial difficulties, the commission may choose to extend the renewal without requiring payment of fees.
When the licensee has made significant contributions to the community: If the licensee has made significant contributions to the community, such as through charitable donations or community service, the commission may choose to extend the renewal without requiring payment of fees as a way to recognize and reward their efforts.
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Suppose that people who are indifferent about trading do, in fact, go ahead and trade. Under this convention, what is the prediction from the supply and demand model about the number of books that should change hands at the equilibrium price?.
6 books should change hands at the equilibrium price
An equilibrium price, also known as a market clearing price, is the agreed upon price when a product transaction takes place. When market supply and demand are in balance, prices become steady. This is known as equilibrium. In general, a surplus of goods or services leads to lower prices, which increases demand, whereas a shortfall or undersupply raises prices, which decreases demand. The coffee market is in a state of equilibrium. There won't be a propensity for pricing to move unless the supply or demand curves alter. In each market, the equilibrium price is the one where supply and demand are equal. Thus, $6 a pound is the market's equilibrium price for coffee.
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The annual report for Jackson Farms disclosed that 1 billion shares of common stock have been authorized. At the beginning of 2017, 810 million shares had been issued and the number of shares in treasury stock was 111 million. During 2017, the only common share transactions were that 19 million common shares were reissued from treasury and 30 million common shares were purchased and held as treasury stock.
Required: Determine the number of common shares (a) issued, (b) in treasury, and (c) outstanding at the end of 2017.
Answer:
a: 810 (million)
b: 111-19(issued)+30(purchased)= 122 (million)
c: 810 (issued)-122 (treasury)=688 million
What is the main function of the federal deposit insurance corporation?.
Answer:
the mission of the federal deposit insurance corporation is to maintain and public confidence in the nation's financial system
Prompt
What is liability?
Read More >>
Answer:
jobless
Explanation:
someone who depend on other people
1. The formula for continuously compounded interest is A = Pe^rt, where A is the amount of money in the account, P is the initial investment, r is the interest rate, and t is the time in years. Using the formula, determine, to the nearest dollar, the amount in the account after 8 years if $750 is invested at an annual rate of 3%
Answer:
the amount in the account after 8 years is $954
Explanation:
The computation of the amount in the account after 8 years is shown below"
Given that
The formula for continuously compound interest is
Amount = Principal e^(rate) (time period)
= $750 × e^(0.03)(8)
= $954
Hence, the amount in the account after 8 years is $954
The same is to be considered by applying the above formula
Asset Allocation Model In this section use the investor profile below to develop an asset allocation model dividing the investments into cash, fixed income, equity and speculative. Explain your choices. Your asset allocation must contain at least one type of investment from each of the cash and fixed income categories. Your asset allocation model must have at least two equity investments. Speculative investments should be considered for high-risk investors. The costs of the investments should be identified. There is no limit on the number of investments chosen but each should be chosen for a specific reason. A proper analysis includes an economic analysis, industry analysis and company specific analysis. Describe the strategy chosen for your investment purchases. Discuss real events which took place to make you alter any decisions and why it made you take a different course of action. Reference news articles and websites to illustrate your course of action. Criteria: Have you shown an understanding of risk, liquidity, return and time frame in selecting an asset allocation? Have you offered clear and objective evidence to support your asset allocation? Have you adhered to the required number of investments for each investment category? Do you offer reasons why one investment was chosen over another? Is there diversity within the category and a reason for that diversity? Do the choices reflect research?
In The Asset Allocation, Growth investment: which employs fundamental analysis, is one of the oldest and most basic types of investing. As a result, considerably more immediate changes may be useful. You have the option of employing leverage with your money.
The Asset Allocation Model is similar to purchasing good quality products . You don't need anything ostentatious or one-of-a-kind.
Growth investment: which employs fundamental analysis, is one of the oldest and most basic types of investing. As a result, considerably more immediate changes may be useful. You have the option of employing leverage with your money.
Invest and Hold: Rather than "timing the market," investors who buy and hold believe that "time in the market" is preferable. If you use this method, you will be able to buy securities and retain them for a long period.
Therefore, Growth investment and Invest and Hold are the option of employing leverage with your money.
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The management of Bonga Corporation is considering dropping product D74F. Data from the company's accounting system for this product for last year appear below: Sales $ 942,000 Variable expenses $ 415,000 Fixed manufacturing expenses $ 356,000 Fixed selling and administrative expenses $ 263,000 All fixed expenses of the company are fully allocated to products in the company's accounting system. Further investigation has revealed that $217,000 of the fixed manufacturing expenses and $128,000 of the fixed selling and administrative expenses are avoidable if product D74F is discontinued. What would be the financial advantage (disadvantage) from dropping product D74F
Answer:
Financial disadvantage from dropping = $(182,000)
Explanation:
A product should be shut down if doing so would make the savings in fixed costs associated with the product to exceed the lost contribution. Other wise , the product should remain.
In a shut down decision , the following relevant cash flows should be considered:
1. Lost contribution from the product to be shut down
2. Savings in fixed directly attributable to the product under consideration.
So, we will apply these principles as follows:
Lost contribution from the product to be shut down:
(942,000-415,000) (527,000)
Savings from fixed direct fixed cost:
(217,000+128,000) 345,000
Net loss contribution (182,000)
Financial disadvantage from dropping = $(182,000)
A/ An ___ Combines the tax structure of a partnership yet protects the business owner from personal liability like a corporation.
A Limited Liability Company (LLC) combines the tax structure of a partnership yet protects the business owner from personal liability like a corporation. An LLC is a flexible and popular business structure that offers its members the benefits of pass-through taxation while limiting their personal liability for business debts or legal issues.
This means that the company's profits and losses are reported on the individual member's tax returns, avoiding double taxation often encountered with corporations. LLCs can be formed with one or multiple members, allowing for versatility in ownership and management structures. The members can choose to manage the LLC themselves or appoint a professional manager. This flexibility enables the LLC to adapt to various business scenarios and objectives.
By creating an LLC, business owners shield their personal assets from potential lawsuits or creditors, as the company is treated as a separate legal entity. This protection is similar to that of a corporation but without the strict requirements and complexity of corporate governance. In summary, an LLC offers a combination of partnership tax benefits and corporate liability protection, making it an appealing choice for many business owners. Its flexibility, simplicity, and asset protection capabilities make it a popular and advantageous option for various types of businesses.
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The ________ is a consumer trend in which consumers share goods or services for a fee, usually facilitated via an online platform.
It should be notes that sharing economy is a consumer trend in which consumers share goods or services for a fee.
What is sharing economy?
Sharing economy can be explained as socio-economic system which is found around the sharing of resources.
It can be regarded as a way of purchasing goods and services which is different from traditional business model and usually facilitated via an online platform..
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Solve the equation 60%of 45
Explanation:
60%of 45
0.6×45
=27
....................
Answer:
27
Explanation:
What are the two types of partnership?
Answer:
What are the two types of partnerships?
Explanation:
general partnership and limited partnership
Regina, Brock, and Sean are website designers who have been tasked to create a new website together.
This is an example of:
alliance
collaboration
punctuality
relationship
Answer:
B: Collaboration
Explanation:
I took the test
Answer:
B: Collaboration
Explanation:
I took the test
if you were dave feather, what do you think would be some of the advantages to having united become involved in an advisory and planning capacity with family depot? disadvantages?
If I were Dave Feather, some advantages of having United involved in an advisory and planning capacity with Family Depot would include access to industry expertise, improved decision-making, and resource optimization.
United's experience in the field could provide valuable insights, allowing Family Depot to develop effective strategies and identify growth opportunities. Their guidance could also lead to better decisions that could improve efficiency, reduce costs, and enhance customer satisfaction.
However, there could be potential disadvantages as well. One possible concern is the loss of control over the company's direction, as United might influence decisions that deviate from Family Depot's original vision. Additionally, sharing confidential information with United may pose risks to the company's competitive advantage. Lastly, the costs associated with engaging United in an advisory capacity might outweigh the benefits, depending on the financial situation of Family Depot.
In conclusion, involving United in an advisory and planning capacity with Family Depot presents both advantages and disadvantages. While it can lead to enhanced decision-making and resource optimization, it may also result in loss of control and potential risks to the company's competitive edge.
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_ want to maintain a balanced life style while doing the kid of work they want to do
Answer: micropreneurs
Explanation:
Micropreneur want to maintain a balanced life style while doing the kid of work they want to do
How to maintain a balanced lifestyleTo maintain a balanced lifestyle while engaging in your desired work, it is essential to incorporate time management, prioritization, self-care, and goal-setting.
Time management enables you to allocate appropriate time for work, family, and personal activities, ensuring a harmonious work-life balance.
Prioritization helps you focus on tasks that contribute most to your goals and allows for effective decision-making.
Practicing self-care through regular exercise, healthy eating, and sufficient rest helps to maintain physical and mental well-being, ultimately supporting your productivity and overall satisfaction.
Lastly, setting clear and attainable goals provides a sense of direction and motivation, fostering a fulfilling and balanced lifestyle.
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books to grow, a corporation owned and managed by volunteers, supplies books and educational materials to impoverished children in latin america. its focus is not on earning a profit but on serving the community. books to grow is an example of a(n)
As Books To Grow focuses on not earning a profit but on serving the community it is an example of corporate social responsibility.
This volunteer-run organization supplies books and educational materials to children in Latin America who are living in poverty.
Rather than seeking to earn a profit, the mission of Books To Grow is to provide resources to those in need and support the local community.
By donating books, money, and time, Books To Grow is making a positive difference in the lives of those living in Latin America.
Rather than earning a profit, Books to Grow is dedicated to serving the community by helping to provide access to quality education. Books to Grow is an example of a non-profit organization, meaning it does not generate a profit for its owners or shareholders, but instead exists to serve its community.
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According to existentialists, our search for meaning involves all of these except:
A. Discarding old values.
B. Meaninglessness
C. Creating our own value system
D. Exploring unfinished business
According to existentialists, our search for meaning involves all of these except: Exploring unfinished business. Hence option D. is correct .
What is existentialists?The existentialists are interested in exploring the meaning of human existence. They think that there is no obvious reason for human existence; it is not a given.
It is the responsibility of human beings to create their own meaning of life. The existence precedes essence is the core of the existentialist philosophy.
Existentialists think that humans create their essence or meaning of life by themselves. According to them, humans have a subjective understanding of their existence.
They have to go through a process of self-discovery to find their essence. The search for meaning is the most important aspect of human existence.
The quest for meaning is not easy; it involves pain, suffering, and fear. One has to explore their existence and search for the meaning of life.
Hence option D. Exploring unfinished business is correct.
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traditional kitchen created.when a special was absent, it was a problem. how does a morden kitchen use cross training to solve that problem?
Answer: In a modern kitchen, cross-training is a common solution to address the problem of staff shortage or absence.
Explanation: In a modern kitchen, cross-training is a common solution to address the problem of staff shortage or absence. Cross-training involves training staff members to be proficient in multiple roles within the kitchen. This allows for more flexibility in scheduling and ensures that the kitchen can continue to operate efficiently even when a key staff member is absent.
For example, if a chef is absent, a line cook who has been cross-trained can step up and take over the chef's responsibilities. Similarly, if a dishwasher is absent, a prep cook who has been cross-trained can take over the dishwashing duties. This helps to ensure that the kitchen runs smoothly and that service is not disrupted.
Cross-training also has other benefits for the kitchen. It can increase employee morale by giving staff members the opportunity to learn new skills and take on new challenges. It can also help to create a more cohesive team by breaking down barriers between different roles within the kitchen.
Overall, cross-training is a valuable tool for modern kitchens to address the problem of staff shortages or absences, and it can lead to a more efficient and productive kitchen environment.
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In the context of managing international transfers and assignments, repatriation occurs when a manager is: a. brought back home from a foreign assignment. b. expelled from the foreign country where he or she is sent on an assignment. c. deported from his home country to a foreign country. d. sent by his or her company on a second foreign assignment.
Answer:
a. brought back home from a foreign assignment.
Explanation:
Repatriation is the action of a company that involves reassignment of an expatriate manager from a foreign country to his home country.
This is a work related transfer and does no have to do with expulsion or deportation from the foreign country.
Usually this is done when an overseas assignment has come to an end.
There is a need to properly asses their role in the foreign country and give them an equally challenging role in the home country.
This will ensure ongoing job satisfaction.
Which role does a manager plays in handling problems and situations which will lead to organizational happiness and prosperity
Answer:
Managers play key role in handling problems in the organization.
Explanation:
Managers act as leaders in any organization. Employees follow their order if they inspire them. Rude and harsh managers cannot dictate employees. Managers play very important role in problem solving. There can be work related problems or some dispute among employees but it is duty of managers to calmly understand the problem and find a solution which is beneficial for the entire organization.
TB MC Qu. 09-123 (Algo) A company has sales of... A company has sales of $109,000 cost of goods sold of $69,870; and total direct expenses of $7,620. The department contribution to overhead is:
The department's contribution to overhead is $31,510.
To calculate the department's contribution to overhead, we need to subtract the cost of goods sold and total direct expenses from the sales. Using the given values, we have:
Department contribution to overhead = Sales - Cost of goods sold - Total direct expenses
= $109,000 - $69,870 - $7,620
= $31,510
Therefore, the department's contribution to overhead is $31,510.
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ashton corporation is headquartered in pennsylvania and has a state income tax base there of $531,000. of this amount, $59,000 was nonbusiness income. ashton's pennsylvania apportionment factor is 43.85 percent. the nonbusiness income allocated to pennsylvania was $22,000. assuming a pennsylvania corporate tax rate of 8.25 percent, what is ashton's pennsylvania state tax liability?
The state tax liability is $18,890
Explanation:
The computation of the state tax liability is shown below:
= [({State income tax base - non business income) × apportionment factor} + non business income] × corporate tax rate
= [({$531,000 - $59,000) × 43.85% } + $22,000] × 8.25%
= [$472,000 × 43.85% + $22,000] × 8.25%
= $228,972 × 8.25%
= $18,890
What is the tax calculation?Tax computation refers to the working documents, statements, schedules, computations, and other supporting materials that serve as the foundation for an income tax return and must be included with the return or kept on file by the individual filing it.
What are obligations for state income taxes mean?The sum of money you owe to taxing bodies, such as your local, state, and federal governments, is known as your tax liability (e.g., the IRS). You owe your creditor money when you have a tax liability because it is a contract. Tax liabilities can arise for both people and companies.
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