Umatilla Bank and Trust is considering giving Blossom Company a loan. Before doing so, it decides that further discussions with Blossom's accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $278,800. Discussions with the accountant reveal the following.
1. Blossom shipped goods costing $55,500 to Sunland Company FOB shipping point on December 28. The goods are not expected to reach Sunland until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
2. The physical count of the inventory did not include goods costing $87,130 that were shipped to Blossom FOB destination on December 27 and were still in transit at year-end.
3. Blossom received goods costing $26,150 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count.
4. Blossom shipped goods costing $46,550 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Blossom's physical inventory.
5. Blossom received goods costing $42,480 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $278,800.
Determine the correct inventory amount on December 31.
Correct inventory amount on December 31 $...................................
Answers
In the given case, the cost of inventory has been misstated.
The correct inventory amount on December 31 can be calculated as follows: December 28 shipment to Sunland Company: Blossom shipped goods to Sunland Company, which cost $55,500, FOB shipping point on December 28. It is estimated that Sunland Company will not receive the goods until January 12. Therefore, the goods are not included in Blossom Company's physical inventory.
Cost of goods excluded from inventory = $55,500December 27 shipment FOB destination: Goods with a cost of $87,130 were shipped to Blossom FOB destination on December 27 and were still in transit at year-end. Therefore, the goods were not included in Blossom's physical inventory. Cost of goods excluded from inventory = $87,130Goods received on January 2, shipped on December 26: Goods costing $26,150 were received by Blossom Company on January 2, shipped FOB shipping point on December 26 by Yanice Co.
The goods were not included in the physical count. Cost of goods excluded from inventory = $26,150December 30 shipment to Ehler of Canada: Blossom shipped goods to Ehler of Canada on December 30, which cost $46,550 FOB destination.
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Related Questions
Which program has a budget that Congress can change significantly each
year?
A. Social Security
B. Education
C. Medicare
c
D. Medicaid
IS
Answers
The education program is one such type of program that has a budget that Congress can change significantly each year. Hence, Option B is the correct statement.
What do you already know about government budget?A government budget is a plan for each spending and raising price range for the authorities. There are sides to a budget: the supply of price range (earnings or revenue) and the makes use of funds (spending or outlays).
Thus, The education program is one such type of program that has a budget which Congress can change significantly each year. Option B is the correct statement.
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Education has a budget that Congress can change significantly each year. Thus, option B is correct.
What is government budget?An annual financial document that lists a government's planned expenses and anticipated revenue generation is referred to as a budget. The government presents it to the Lok Sabha at the start of every fiscal year to provide an estimate of its expenses and receipts.
Government budgets are frequently described using the phrase "Annual Financial Statement" of a country. A government determines its budget by estimating its anticipated spending and making measures to raise money to cover them. A nation's government receives funding mostly through the collection of taxes, interest on loans given to states, fines and levies, as well as dividends received from public sector companies.
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Large-scale project managers require deeper project management knowledge than small-scale managers. T/F
Answers
True. Large-scale project managers require deeper project management knowledge compared to small-scale managers.
Managing large-scale projects presents unique challenges and complexities that require a higher level of project management knowledge and expertise. As project scale increases, various factors such as project scope, resources, stakeholders, risks, and coordination become more intricate and demanding.
Large-scale projects typically involve higher budgets, longer durations, and a greater number of team members and stakeholders. Managing such projects requires advanced skills in areas such as project planning, scheduling, risk management, communication, stakeholder engagement, and resource allocation.
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What is the incremental variable cost for a firm to produce on additional unity of the good?
Answers
The incremental variable cost for a firm to produce one additional unit of a good is the increase in total variable cost that results from producing that additional unit.
Variable costs are costs that vary with the level of production, such as the cost of raw materials, labor, and energy.
For example, if a firm is currently producing 100 units of a good and has total variable costs of $10,000, and the incremental variable cost of producing one additional unit is $50, then the total variable cost of producing 101 units would be $10,050 ($10,000 + $50).
The incremental variable cost is important for firms to consider when making decisions about production levels, pricing, and profitability. If the incremental variable cost of producing an additional unit is less than the price the firm can charge for that unit, then producing that unit will increase the firm's profit. However, if the incremental variable cost is greater than the price the firm can charge, then producing that unit will decrease the firm's profit.
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What are references like for a job thing. Idk how else to say it
Answers
Answer:References can help you find the right job by giveing you a point of reference to compare jobs.
Explanation:
Is Vegeta the prince of all saiyans or the king of all saiyans
Answers
Answer: the prince
Explanation: Vegeta first appears in chapter #204 "Sayonara, Son Goku", published in Weekly Shōnen Jump magazine on November 7, 1988, seeking the wish-granting Dragon Balls to gain immortality. Vegeta is the prince of an extraterrestrial warrior race known as the Saiyans.
Revision of Depreciation
A building with a cost of $1,800,000 has an estimated residual value of $125,000, has an estimated useful life of 40 years, and is depreciated by the straight-line method.
a. What is the amount of the annual depreciation?
$fill in the blank 1
41,875
b. What is the book value at the end of the twenty-eighth year of use?
$fill in the blank 2
c. If at the start of the twenty-ninth year it is estimated that the remaining life is 5 years and that the residual value is $80,000, what is the depreciation expense for each of the remaining 5 years?
$fill in the blank 3
Answers
a) $41,875, Annual Depreciation.
b) $627,500, Value at the end of twenty-eight year.
c) $109,500, depreciation for 5 years.
a) Annual Depreciation = (Cost of the Asset - Residual Value) / Estimated useful life.
Annual Depreciation = ($1800000 - $125000) / 40 = $41,875.
b) Book value after 28 year of use will be:
Depreciation till 28 year = Annual depreciation x 28 = 41875 x 28 = 1,172,500.
Book value = Cost of asset - Depreciation till 28 year = 1800000 - 1172500 = $627,500.
c) Annual Depreciation for 5 years will be:
Annual Depreciation = (Cost of asset remaining - Residual value) / Estimated life remaining
Annual Depreciation = (627,500 - 80000) / 5 = $109,500.
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give 5 numbers smaller than -2 and 5 numbers bigger than -2
Answers
bigger: -1, 0, 1, 2, 3
Which defines room and board? (1 point)
O housing and meals that are often provided at additional cost
O a school that provides training in a specific skill or trade
O an educational institution or establishment, in particular one providing higher education
O monetary support that is used to help pay educational costs
Answers
In contrast to a variety of non formal and informal methods of socialization, education is the field that is concerned with the methods of teaching and learning in schools or environments that resemble schools.
What differentiates knowledge from education?
Knowledge and education are not the same thing. Knowledge is what you know, while education is how you learn it. The facts and information you can remember and use is called knowledge. Education is how we learn new things.
Equity and equality in education, what do you mean?
A system of equality treats everyone the same without giving any consideration to their requirements or needs. As a result, equity is a situation in which every person, regardless of their individual differences, receives the same rights and opportunities.
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Answer:
O housing and meals that are often provided at additional cost
Explanation:
“Room” in Room and Board, meaning
The “room” part can be taken literally it’s basically your college bedroom
and Board refers to the meal plan meaning somewhere that supplies food.
Boom easy answer
Which of the following is not a business product classification?
A) Installations
B) Accessories
C) Professional services
D) Specialty
Answers
The correct option is B). Accessories are not a business product classification.
Business product classification refers to the arrangement of a company's goods and services into categories based on their physical or monetary characteristics, their market appeal, and their business usage.
They are grouped into four categories; installations, accessory equipment, raw materials, and component parts.
Business buyers will evaluate these categories differently, and marketers will approach each category differently.
Accessories are not a business product classification. Accessory equipment is a type of business classification, which is why it may be confusing. These are items that are not part of the primary machinery but are used in conjunction with it. Accessories are typically used in addition to installations or equipment to enhance their functionality, and they are often not essential to its operation.
A quick and short answer to the question: Accessories are not a business product classification.
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What is NOT an advantage of being an entrepreneur?
Answers
Answer: Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business
Answer:
The advantages of entrepreneurship include the ability to shape one's own business, control of one's own working habits, and significant stock in the venture. Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business.
Explanation:
Determine whether the following statement is positive or normative: "Inequality is typically greater in a market economy than a centrally-planned economy."
Answers
The assertion" Imbalance is naturally more noteworthy in a Market economy than a halfway arranged frugality" is a positive assertion.
Statements that describe or explain a miracle or relationship in the world are known as positive statements. They can be tested and proven through empirical analysis and are grounded on factual compliances or substantiation.
A request frugality is a profitable system in which the price signals are generated by force and demand companion opinions about investment, product, and distribution to consumers.
The economics of colorful individual judgments are the focus of normative economics. These judgments constantly diverge from one another, egging group agreement constantly.
Statements grounded on data are the focus of positive economics. Certain consequences can be drawn from these statements.
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A product has three distinct layers. The most basic layer is the ________, which consists of all the benefits the product will provide for consumers or business customers.
Answers
The most basic layer of a product is the core product which consists of all the benefits the product will provide for consumers or business customers.
What are core products?Core products or services are company products/services that are close to the company's core competencies. It describes the satisfaction that a consumer gets from consuming a product.
Core product involves the benefits the product will provide for consumers.
The three layers of products are :
AugmentedActualCoreHence, the most basic layer of a product is the core product which consists of all the benefits the product will provide for consumers or business customers.
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The fact that more than one type of economic system exists in the world today is attributable MAINLY to the fact that
(A) there are numerous countries in the world
(B) people of different countries have different religious and political
ideologies
(C) each system is modeled to cope
with a different type of economic
problem
(D) different methods can be used to solve the same economic problem
Answers
Answer:
C
Explanation:
Different economic systems were created in the past to solve different issues/problems in separate conditions from other countries
Standard & Poor’s and Moody’s would be least helpful while making decisions concerning the purchase of _____.
municipal bonds
savings bonds
junk bonds
corporate bonds
Answers
Answer:
The correct approach is Option b (Savings bonds).
Explanation:
Securities from either the United States treasury or such an outside approved agency which always demonstrate that the extra revenue was committed to that same administration and therefore is due to the designated individual is considered as Saving bonds.They have been utilized to support their activities by raising financial resources as well as redistributing wealth and infrastructure.The other given alternatives aren't related to the given scenario. So the above is the right answer.
In the past, jaleel's vacation time has been spent at home catching a few local attractions when she could afford them. this year, she received a big bonus at work and has decided to finally take the trip to europe that she has always dreamed about. jaleel's purchasing behavior has changed due to_________.
a. the income effect.
b. the substitution effect.
c. cross-price elasticity.
d. the complementary products effect.
e. the substitute products effect.
Answers
Answer:
a. the income effect.
Explanation:
The income effect is the change in demand with respect to the good or service that due to change in the purchasing power of the consumer results in change in real income
Since in the situation it is mentioned that she received a big bonus this year and she decided for a trip to europe so here the purchasing power would be changed due to the income effect
hence, the option a is correct
True or false: Employees prefer to receive ISOs rather than NQOs because the entire difference between the sales price and the exercise on the subsequent sale of the stock may be taxed as a long-term capital gain if the required holding periods are met. True false question. True False
Answers
Answer:True
Explanation:
Companies striving for global market leadership pursue strategic alliances or collaborative partnerships with foreign companies in order toMultiple Choicerevamp the global industry value chain, raise needed financial capital from foreign banks, and wage price wars against foreign competitors.exercise better control over efforts to revamp the global industry value chain and combat the bargaining power of foreign suppliers.exercise better control over efforts to revamp the global industry value chain, insulate a company from the impact of the five competitive forces, and use the brand names of their partners to make sales to foreign buyers.increase the bargaining power of foreign suppliers and help defend against the competitive threat of substitute products produced by foreign rivals.get into critical country markets quickly, gain inside knowledge about unfamiliar markets and cultures, and access valuable skills and competencies that are concentrated in particular geographic locations.
Answers
Answer:
get into critical country markets quickly, gain inside knowledge about unfamiliar markets and cultures, and access valuable skills and competencies that are concentrated in particular geographic locations.
Explanation:
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
Some examples of international economic organizations involved in global economy and trade are;
I. World Trade Organization (WTO).
II. United Nations (UN).
III. International Monetary Fund (IMF).
IV. United Nations Conference on Trade and Development (UNCTAD).
When a company or business firm strive for global market leadership, its main focus would be to pursue strategic alliances or collaborative partnerships with foreign companies. This would enable it get into critical country markets quickly and effectively, it would also gain an inside knowledge and understanding about unfamiliar markets, consumer demographics and cultures, as well as getting hold of valuable skills and competencies that are concentrated in specific geographic locations in the world.
wth fill in the blanks
Bankruptcy
Cash
Check
Credit
Debit
Debt
Foreclosure
Expenditures
Credit Card
Debit Card
Impulse Buying
Long-Term Goals
Needs
Short-Term Goals
Wants
Budget
Discretionary Income
Fixed Expenses
Variable Expenses
Scarcity
(not all the words are being used)
1. The amount of financial trust extended to a person or a business by a lender; a loan.
2. Money owed.
3. A legal process that gives a debtor protection from creditors.
4. Goods or services that make people more comfortable or content but which are not necessary for survival.
5. Goods or services that people cannot survive without, such as water, food, shelter, and clothing.
6. Money that is spent on goods, services, and bills.
7. A purchase based on an immediate want or due to the pressure of advertising.
8. Plans that take a year or more to accomplish.
9. Plans that can be accomplished within three months to a year.
10. A record of income and spending and a plan for managing money.
11. Money available to spend on goods and services that are not essential.
12. The economic condition of limited resources that prevents people from having everything they want.
13. Expenses that do not change from month to month, such as auto insurance or rent.
Answers
Answer:
1. Credit 2. Debt 3. Bankruptcy 4. Wants 5. Needs 6. Cash 7. Impulse Buying 8. Long-term goals 9. Short-term goals 10. Budget 11. Discretionary income 12. Scarcity 13. Fixed Expenses
Explanation:
The ratio of the price of two goods on a graphed budget line is measured by its:.
Answers
There are lines in budget. The ratio of the price of two goods on a graphed budget line is measured by the slope of the budget.
What is a budget lineThis is regarded as a two-dimensional graph that shows the various choices one have between two goods given the money one have to spend. It is also known as budget constraint.
The ratio of the price of good X that is found on the horizontal axis to the price of good Y on the vertical axis is known as the slope of the budget.
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Rudolph has worked tirelessly for his recent promotion. His efforts demonstrate he values
O courage
o achievement
O compassion
O relationships
Answers
Answer:
Correct answer is achievement I just did this quiz.
Explanation:
power held due to the position of authority is called __________ power.
Answers
Answer:
Legitimate power
Explanation:
The American Marketing Association (AMA) developed a code of ethics for marketers based on three principles. These three principles are __________.
Answers
The American Marketing Association's code of ethics for marketers is based on three principles: Do No Harm, Foster Trust in the Marketing System, and Embrace Ethical Values.
The three principles of the code of ethics developed by the American Marketing Association (AMA) are:
Do No Harm: Marketers should strive to do no harm to consumers and society at large. This principle emphasizes the importance of ethical conduct and responsible marketing practices that prioritize the well-being and interests of customers.
Foster Trust in the Marketing System: Marketers should aim to build and maintain trust in the marketing profession. This involves conducting business with integrity, being transparent in advertising and communications, and promoting fair competition.
Embrace Ethical Values: Marketers should uphold and promote ethical values such as honesty, fairness, responsibility, respect, transparency, and citizenship. These values guide their decision-making process and help them build meaningful relationships with customers, stakeholders, and the community.
In conclusion, the American Marketing Association's code of ethics for marketers is based on three principles: Do No Harm, Foster Trust in the Marketing System, and Embrace Ethical Values.
These principles form the foundation for ethical decision-making and responsible marketing practices, emphasizing the importance of considering consumer well-being, maintaining trust, and upholding ethical values in the marketing profession.
Adhering to these principles helps marketers build credibility, foster positive relationships, and contribute to the overall ethical standards of the industry.
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Your company's CEO just informed you that your team's budget will be unexpectedly reduced by 20% this quarter. This will create significant disruptions on several projects that your team has already begun, and it may mean that you have to drop one or two projects altogether. Which of the following communication channels would be LEAST effective in communicating this situation to your team?
A.) An email sent to the entire team
B.) Individual calls with each team member
C.) An online meeting with the entire team
D.) An in-person meeting with the entire team
Answers
The LEAST effective communication channel in this situation would be: A.) An email sent to the entire team
While sending an email to the entire team can be an efficient way to effective communication, it may not be the most effective method for conveying sensitive and potentially disruptive news like a budget reduction. Email lacks the personal touch and immediate feedback that other channels offer.
In a situation where significant disruptions and project changes are anticipated, it is crucial to ensure clear understanding, address concerns, and provide support to team members. An email may not allow for real-time interaction, clarification of doubts, or addressing individual concerns adequately.
These channels foster better engagement, and understanding, and provide an opportunity for team members to express their thoughts and concerns in a more supportive and collaborative manner.
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which statement best describes the relationship between businesses and other parts of the circular flow of goods?
A. businesses make rules about what resources will be available
B. businesses sell the goods produced in households
C. businesses create the goods that product markets sell
D. businesses make it easier for households to access resource markets
Answers
The statement that describes the relationship between businesses and other parts of the circular flow of goods is that it is the businesses that create the goods that product markets sell. Hence, Option C is correct.
What is the flow of goods?Right from the availability of the raw material to the delivery of the goods to the ultimate customer, there is proper supply chain management, it works with the aim of the flow of goods. There are various types of flow, like labor flow, money flow, and many more.
Sometimes it is a complicated web in which there are interconnected networks, which involve a distribution channel also. There is a flow of labor also available, whose work is to produce goods and services.
Therefore, Option C is correct.
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If a firm wanted to know whether the demand for its product was elastic, unit elastic, or inelastic, then the firm could:_______
Answers
If a firm wants to determine the elasticity of demand for its product, it can analyze the responsiveness of quantity demanded to changes in price. By calculating the price elasticity of demand, the firm can classify the demand as elastic, unit elastic, or inelastic based on the magnitude of the calculated elasticity value.
To perform a price elasticity of demand analysis, the firm can:
Collect data: Gather information on the quantity demanded and corresponding prices of the product over a specific period.
Calculate the price elasticity of demand: Use the formula for price elasticity of demand, which is the percentage change in quantity demanded divided by the percentage change in price. This calculation will provide a numerical value that indicates the responsiveness of demand to price changes.
Interpret the results: Analyze the calculated price elasticity value to determine the elasticity of demand.
If the price elasticity of demand is greater than 1, the demand is considered elastic. This means that a change in price will result in a relatively larger percentage change in quantity demanded.
If the price elasticity of demand is equal to 1, the demand is considered unit elastic. This means that a change in price will result in an equal percentage change in quantity demanded.
If the price elasticity of demand is less than 1, the demand is considered inelastic. This means that a change in price will result in a relatively smaller percentage change in quantity demanded.
By conducting a price elasticity of demand analysis, the firm can gain insights into the responsiveness of demand to price changes, which helps in making pricing decisions and understanding the market dynamics for their product.
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Future value with periodic rates Man Johnsos delivers newspapers and is puting away $30 at the end of each quarter from his paper route collections Matt is 11 years old and will use the money when the goes to colege in 7 years. What will be the value of Mat's account in 7 years with his quarterly payments if he is eaning 6.5% (APR), 10.5% (APR) or 13% (APRI). What will be the value of Matrs account in 7 years with his quarterly payments if he is eaming 6.5% (APRY)?
Answers
The value of Matt's account in 7 years with quarterly payments will be $327.83 at a 6.5% APR, $386.82 at a 10.5% APR, and $416.29 at a 13% APR.
To calculate the future value of Matt's account with quarterly payments, we can use the formula for the future value of an ordinary annuity:
Future Value = P * [(1 + r/n)^(n*t) - 1] / (r/n)
P = Payment amount per period
r = Annual interest rate (in decimal form)
n = Number of compounding periods per year
t = Number of years
Given that Matt makes quarterly payments of $30, we can substitute the values into the formula:
For 6.5% APR:
P = $30
r = 6.5% = 0.065 (APR)
n = 4 (quarterly compounding)
t = 7 years
Future Value = $30 * [(1 + 0.065/4)^(4*7) - 1] / (0.065/4)
Future Value = $327.83
For 10.5% APR:
P = $30
r = 10.5% = 0.105 (APR)
n = 4 (quarterly compounding)
t = 7 years
Future Value = $30 * [(1 + 0.105/4)^(4*7) - 1] / (0.105/4)
Future Value = $386.82
For 13% APR:
P = $30
r = 13% = 0.13 (APR)
n = 4 (quarterly compounding)
t = 7 years
Future Value = $30 * [(1 + 0.13/4)^(4*7) - 1] / (0.13/4)
Future Value = $416.29
Therefore, the value of Matt's account in 7 years with quarterly payments will be $327.83 at a 6.5% APR, $386.82 at a 10.5% APR, and $416.29 at a 13% APR.
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How can a company hide 2000$ of debts in a double entry journal accounting….. using debits and credits
Answers
What does a boilermaker do?
applies marble and tile to floors, walls, and other surfaces
installs iron or steel beams, columns, and girders
assembles, installs, and repairs large containers that hold gases and liquids
repairs roofs of structures, using asphalt, metal, shingles, and other materials
Answers
Answer:
C) Assembles, installs, and repairs large containers that hold gases and liquids.
If your company increases its market penetration, what is happening?
A The target market is growing.
В. More people in the target market are buying the company's product.
C. The market saturation of the target market has decreased.
D. Competitors who offer similar products are entering the market.
Answers
Answer: More people in the target market are buying the company's product.
Explanation:
Answer:
B.
More people in the target market are buying the company's product.
Explanation:
HELP ASAP...Just tap the photo to read the problem
Answers
Answer:
Red Dear
Explanation:
Red Dear tell the location of Human Resources