Accounts payable is an account in the general ledger that controls the accounts payable subsidiary ledger.
What is account payable subsidiary?
An accounting ledger known as an accounts payable subsidiary ledger shows the transaction history and amounts owed to each supplier and vendor. Accounts payable (AP) from a supplier is merely a credit line extended to a company (the buyer) to provide them additional time to pay for the supplies.
Why does AP ledger requires a subsidiary ledger?
For some businesses, the accounts payable account has a significant volume. A subsidiary ledger for your accounts payable account will keep the specific spending data out of the general ledger account when you want to limit the transaction volume and amount of detail in your general ledger.
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Answer:
The Balance
Explanation:
land and a warehouse were acquired for $860,000. what amounts should be recorded in the accounting records for the land and for the warehouse if an appraisal showed the estimated values to be $520,000 for the land and $850,000 for the warehouse? (round intermediate percentage calculations to 1 decimal place.)
Based on the appraisal values, the land has a fair market value of $520,000 and the warehouse has a fair market value of $850,000. Therefore, the amounts that should be recorded in the accounting records for the land and the warehouse would be:
- Land: $520,000
- Warehouse: $850,000
It is important to note that the acquisition cost of $860,000 is not necessarily the same as the fair market value of the land and warehouse. The acquisition cost may include other costs such as legal fees, survey fees, or site preparation costs. However, in this scenario, the appraisal values provide a reliable estimate of the fair market value of the land and warehouse, and therefore should be used for accounting purposes.
It is also worth noting that if the fair market value of the land or warehouse had been lower than the acquisition cost, a loss on the acquisition would need to be recognized in the accounting records. Conversely, if the fair market value had been higher than the acquisition cost, a gain on the acquisition would need to be recognized. However, in this scenario, the fair market values are lower than the acquisition cost, and therefore no gain or loss needs to be recognized.
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Which of the following is true of disruptive technologies? A. The tech industry is the least fertile ground for disruptive technologies. B. Initially underperforming incumbents, over time their performance attributes improve to the point where they invade established markets. C. They come to market with a set of performance attributes that existing customers have demanded. D. Disruptive technologies and disruptive innovations are independent concepts. E. The term disruptive technologies is a simple one because few technologies are able to create market shocks and catalyze growth.
The true statement about disruptive technologies is they come to market with a set of performance attributes that existing customers have demanded.
Disruptive technologies are technological advancement that leads to changes in the operations of an industry, market or economy. Examples of disruptive technologies are artificial intelligence, 3d printing, cloud storage and robotics.
The technology industry is a fertile ground for disruptive technologies. This is because most inventions originate from the tech space. Disruptive technologies replace or drive out existing technologies and render them obsolete. The worst hit are underperforming incumbents.
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credit is when the lender doesn’t require you to put down a security deposit or collateral. (True/False)
Collateral refers to an asset that a lender will accept in exchange for a loan. Lender has the right to seize the security if borrower defaults on payments.
Who is the 'lender'?
An individual, group (public or private), or financial institution that offers credit to a person or company with the intention of repayment is known as a lender. Any fees or interest must also be included in the repayment. One type of creditor in the group is a lender. Banks, credit unions, and peer-to-peer (P2P) lending are typical examples.
A bank is an example of a direct lender; after you apply for a mortgage, the bank gives you the cash right away so you can purchase a house.
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Which of the following is a case of brand cannibalization?
A. A tea manufacturer introduces a new brand of tea that eats into the sales of an existing brand of another manufacturer.
B. A tea manufacturer introduces a new but inferior brand of tea to promote the sales of an existing tea brand in its product mix.
C. A tea manufacturer introduces a new brand of tea that eats into the sales of an existing tea brand in its product mix.
D. A tea manufacturer introduces a new brand of tea that has the unintended result of promoting the sales of an existing brand of another manufacturer.
Answer: C. A tea manufacturer introduces a new brand of tea that eats into the sales of an existing tea brand in its product mix.
Explanation:
In which item category would the sourcing strategies of ensuring availability of supply, focusing on relationship building, encouraging process integration and innovation, frequent communications, and establishing mutually agreeable supplier performance criteria, be appropriate
A study of the potential demand for a new hospitality and travel business is called______
Answer:
market analysis
Explanation:
A market analysis is the studies the dynamics of the study market such that of a potential rise in demands for a new hospitality and travel business. The market analysis is also a part of the global environmental analysis. It identifies the possible strengths and weaknesses along with the opportunities and threats. It areas include market trends, growth probability, and key success factors.Which source can help entrepreneurs get access to advertisements and classified ads about potential suppliers?
Entrepreneurs can access advertisements and classified ads in ____
to meet their supplier needs.
Answer:
trade magazines
Explanation:
Why is compound interest preferable to simple interest when investing?
оооо
Compound interest pays at least double the interest on the principal during each month.
Compound interest is paid by the week or by the month, not only once during a year.
Compound interest is based on the entire principal, not just a percentage of the principal.
O Compound interest pays interest both on the principal and the interest earned in each period.
Answer:
O Compound interest pays interest both on the principal and the interest earned in each period.
Explanation:
Compound interest is preferred as it measures the interest on the principal amount and the accrued interest. In the compounding interest, the interest i.e. earned should be added to the principal in order to create the new principal amount. The interest earned at the closing of every year should be more than the last period as the principal amount rises at the starting of the period
Also, the interest earned via the compound interest should be grown much faster as we compared to the fixed rate interest
Therefore the last option is correct
Answer:
d. Compound interest pays interest both on the principal and the interest earned in each period
Explanation:
If prices of a good or service are expected to increase in the future, the demand for that good or service will ______ today. If prices are expected to decrease in the future, demand will ______ today. Multiple choice question.
The current demand falls if the prices are likely to increase in the future whereas the current demand rises if prices are likely to decrease in the future.
What is demand?Demand is one of the market factors that tells about the goods being purchased by the customers.
When the rates of goods are expected to be rise in the future, then the demand for those goods would downfalls. In contrast, the reverse case will make the demand enhancing. The rise or fall in demand also directly affects the supply by the producers.
Therefore, there is an inverse relationship between futuristic prices and the current demand for products.
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PLEASE HELP QUICK!!!
Which of the following is an advantage of buying your home over renting?
(1 point)
O You do not have to worry about the housing market in your area.
O The amount you pay each month is set by the terms of your mortgage.
O If something breaks, you have to fix it or pay to have it fixed.
O Your mortgage payments will far exceed the value of your home.
Answer:
The amount you pay each month is set by the terms of your mortgage.
Explanation:
connexus
What is money that a borrower owes a lender?
credit
O debt
O income
O loan
Answer: loan.
Explanation:
depessed need someone to help me through a war
Answer:
Find the happy things in life :)
Answer:
what kind of war should i help you with ?
Why is it important to have thorough training programs?
2. What job design did you have in your latest job? If you were in
charge, would you have made any changes or modifications
Training programs foster employee engagement and job satisfaction, as they demonstrate the organization's investment in its employees' professional development.
Thorough training programs are essential for equipping employees with the knowledge and skills required to excel in their roles. Training helps employees understand their job responsibilities, learn new techniques, and develop proficiency in their tasks. By providing comprehensive training, organizations can improve employee performance, reduce errors, and enhance productivity. Moreover, training programs also contribute to employee confidence and job satisfaction, as individuals feel more competent and empowered in their roles.
In my latest job, the job design focused on clear task allocation, defined roles and responsibilities, and effective communication channels. While the job design was generally well-structured, I would have made a few modifications. Firstly, I would have implemented cross-training initiatives to provide employees with a broader skill set and facilitate flexibility in task assignments. This would allow for a more agile workforce and enable employees to handle multiple responsibilities. Additionally, I would have introduced job enrichment strategies by incorporating challenging tasks, autonomy, and opportunities for growth and development. This approach promotes employee motivation and engagement, as individuals are given more responsibilities and opportunities to learn and contribute to the organization's success.
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how do you manage scarce resources?
By setting the rations ahead of time and sticking to the intended plan as best as possible. Understand your limits to know how to measure the resources.
Write one paragraph about why a person, who up until now has worked an hourly job, might decide to look for a salaried job with benefits. Line
Answer:
See below
Explanation:
A salary is a fixed amount that an employee receives after the lapses of a specified time, say weekly, bi-weekly, or monthly. An employee is assured of their full salary regardless of their input. Salaried employees are advantaged in that salaries don't fluctuate with the volume of work. Should a salaried worker fail to report for work due to valid reasons such as illness, they still receive their full pay. A fixed salary makes planning and budgeting easy.
Banc Corp. Trust estimates that it costs $500 to analyze and close a commercial loan. This amount has been included in the $396,000 of overhead costs. How much of the remaining overhead costs should be allocated to the Consumer Department?
Complete question :
Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $396,000 of indirect costs. The bankwide rate couldbe based on either direct labor hours (DLH) or the number of loans processed. The departmental rates would be based on direct labor hours for ConsumerLoans and a dual rate based on direct labor hours and the number of loans processed for Commercial Loans. The following information was gathered for the upcoming period.
Dept - - - - - - - DLH - - loan processed - - - d/cost
Consumer - 14000 - - - 700 - - - - - - - - 280,000
Commercial - 8000 - - 300 - - - - - - - 180,000
Banc Corp. Trust estimates that it costs $500 to analyze and close a commercial loan. This amount has been included in the $396,000 of overhead costs. How much of the remaining overhead costs should be allocated to the Consumer Department?
Answer:
$172,200
Explanation:
Number of commercial loans processed = 300
Cost of processing a commercial loan = $500
Overhead cost = $396,000
Total cost = 300 * $500 = $150,000
Overhead left = $(396,000 - 150,000) = $246,000
Overhead sharing between commercial and consumer department :
Total loans = (300 + 700) = 1000
Number of consumer department loan = 700
Consumer department overhead :
(246,000 / 1000) * 700
246 * 700 = $172,200
Smith & Sons uses the allowance method of handling its credit losses. It estimates credit losses at two percent of credit sales, which were $1,900,000 during the year. On December 31, the Accounts Receivable balance was $300,000, and the Allowance for Doubtful Accounts had a credit balance of $21,400 before adjustment. Show how Accounts Receivable and the Allowance for Doubtful Accounts would appear in the December 31 balance sheet. (Do not use negative signs with your answers.)
Answer: See explanation
Explanation:
Firstly, we need to calculate the amount of bad debt. This will be:
= Credit sales × Bad debt expense
= $1900000 × 2%
= $38000
Also, the adjusted balance of allowance account will be the addition of the uadjusted balance of Allowance account and the bad debt expense which will be:
= $21,400 + $38000
= $59,400.00
Then, the balance sheet will be:
Accounts receivables = $300,000
Less: Allowance for Doubtful Accounts = $59,400
Net Realizable value of Accounts receivables = $240,600
Assume that the interest rate on borrowings in Japan is 3 percent while the interest rate on bank deposits in a U.S. bank is 5 percent. Laura, an active currency trader, borrows in Japanese yen, converts the money into U.S. dollars and deposits it in a U.S. bank. Laura is engaging in
Answer:
"Carry Trade", is the right answer.
Explanation:
Laura is engaged in "Carry Trade" because the carry trade refers to the process to borrow from the country where the interest rate is lower and deposit the borrowed money in other countries in which the person earns more interest. Therefore, the process for borrowings and deposits from low and high-interest rates respectively is called the carry trade.
QUESTION 5 of 10: Since you rely on your parent/guardian for your food, shelter, and clothing, you are considered:
a) Lucky
b) Resourceful
c) Adependent
d) An independent
Answer:
C) A dependent
Explanation:
You depend on other people for what you want
Depend = rely = same thing different way that it is written
You are depending on your parent/guardian for food, shelter, and clothing.
d is incorrect because you are not being independent, since you are not doing it yourself
Resourceful, nahh.
Lucky...how is that considered lucky, I mean yh ur lucky you have them but in this case no
Hope this helped!
Have a supercalifragilisticexpialidocious day!
In what way does a deductible help an insurance company?
It adds to the company's pool of funds.
It increases consumers' insurance premiums.
It lowers the payout the company has to make.
It reduces consumers' co-payments.
Answer:
it lowers the payout the company has to make
Explanation:
Deductible help an insurance company by: It lowers the payout the company has to make.
What is insurance?Insurance can be defined as the coverage that help to cover costs in case of unexpected circumstance.
Insurance companies often makes use of deductibles by making policyholders to pay part of the claims. This help to reduce the money that the insurance company is expected to pay the policyholder in case of unforessen circumstance.
Inconclusion deductible help an insurance company by: It lowers the payout the company has to make.
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JohnBoy Industries has a cash balance of $54,000, accounts payable of $134,000, inventory of $184,000, accounts receivable of $219,000, notes payable of $129,000, and accrued wages and taxes of $41,500. How much net working capital does the firm need to fund?
Answer:Net working capital = $152,500
Explanation:
Net working capital = CA– CL
Where CA= Current Assets = Cash + Inventory + Accounts Receivable
and CL= Current Liabilities= Account payable + Notes payable + accrued wages and taxes
CA=$54, 000 + $184,000 + $ 219,000 =$457,000
Current liabilities = Account payable + Notes payable + accrued wages and taxes
CL = $134,000 + $129,000 + $41,500 = $304,500
Net working capital = Current assets – Current liabilities
Net working capital = $457,000 – $304,500= $152,500
Net working capital = $152,500
True or False
each of the following statements is true or false.
1. The marketing concept for a business is developed by using the primary and secondary
data that is gathered through market research.
2.
The marketing concept uses the needs of the business as the primary focus during the
planning, production, distribution, and promotion of a product or service.
3.
Establishing short-, medium-, and long-term marketing goals ensures that the marketing
you do today fits the vision you have for your business tomorrow.
4. Short-term goals should not be listed in terms of product, price, distribution, and
promotion.
5.
Long-term goals describe what you want your business to achieve in the next two or
three years.
6.
Long-term goals show where you would like your business to be five or ten years from
now but do not help you think about how to market your business today.
7. You should develop a marketing plan before setting short-, medium-, and long-term
goals for your business.
8. The marketing plan should be separate from your business plan.
From the following statements:
The marketing concept for a business is developed by using the primary and secondary data that is gathered through market research. TrueThe following statements are: 2. False, 3. True, 4. False, 5. False, 6. True, 7. False, 8. False.
What is marketing concept?The marketing idea is the use of marketing data to concentrate on consumer needs and wants in order to design marketing strategies that not only meet customer needs but also achieve organizational goals.
Production, product, selling, marketing, and societal are the five marketing concepts. The goal of the modern marketing approach is to satisfy the customer by focusing on their needs and wants. Customer-focused marketing is prevalent today. It is based on a more general concept and a new marketing concept.
Therefore, from the following statements:
The marketing concept for a business is developed by using the primary and secondary data that is gathered through market research. TrueThe marketing concept uses the needs of the business as the primary focus during the planning, production, distribution, and promotion of a product or service. FalseEstablishing short-, medium-, and long-term marketing goals ensures that the marketing you do today fits the vision you have for your business tomorrow. TrueShort-term goals should not be listed in terms of product, price, distribution, and promotion. FalseLong-term goals describe what you want your business to achieve in the next two or three years. FalseLong-term goals show where you would like your business to be five or ten years from now but do not help you think about how to market your business today. TrueYou should develop a marketing plan before setting short-, medium-, and long-term goals for your business. FalseThe marketing plan should be separate from your business plan. FalseTo know more about the marketing concept, visit:
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which of the following is not necessary to compute the order quantity using the fixed-time-period model with safety stock? multiple choice ordering cost forecast average daily demand safety stock inventory currently on hand lead time in days
ordering cost is not necessary to compute the order quantity using the fixed-time-period model with safety stock.
Ordering costs are the expenses incurred by your business to purchase and receive the inventory items. These ordering expenses may include shipping fees, unanticipated transportation costs, inspection fees, and other expenses required to purchase inventory products. Essentially, the costs associated with placing and receiving inventory orders are the purchasing and ordering costs. The ordering cost formula is useful for estimating the economic order quantity and provides businesses with insight into how much of a product is required to meet consumer demand and achieve sales objectives. You can also apply the formula to various items to gain a better understanding of how much of each product your organisation must sell to maintain its budget and achieve its sales revenue objectives.
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Which of the following is not an example of professional behavior
?
Calculate the exergy in the cylinder if its parameters are: pressure p = 130 bar; temperature t = 200 C, but the ambient parameters are: pressure P0 = 1 bar; temperature T0 = 15 C. The volume of the cylinder is 20 liters. List air as the ideal gas.
The energy in the cylinder , given its pressure of 130 bar and temperature of 200°C, in comparison to the ambient conditions of 1 bar pressure and 15°C temperature, amounts to approximately 89.8 kJ/kg.
Energy is a measure of the maximum amount of work that can be extracted from a system when it reaches equilibrium with its environment. The energy of a system is often used to assess its energy efficiency.
Calculation of energy in the cylinder:
Given parameters of the cylinder are, Pressure p = 130 bar Temperature t = 200C
The volume of the cylinder is 20 liters.The ambient parameters are, Pressure P0 = 1 bar Temperature T0 = 15C.The cylinder is filled with air. Air is considered as the ideal gas.The specific heat at constant pressure of air is Cp = 1005 J/kg KThe specific heat at constant volume of air is Cv = 717 J/kg KThe ideal gas constant of air is R = 287 J/kg KThe molar mass of air is M = 28.97 g/mol.First, calculate the specific volume of the air inside the cylinder using the ideal gas law.
V= nRT/p
Where,
V = volume of air,
R = Ideal gas constant,
P = pressure,
T = Temperature,
n = number of moles of air V = (nRT)/p = ((20 L)(130000 Pa)) / ((8.314 J/mol K)(473 K)) = 1.271 mol
So, the specific volume of the air is V/n = (20 L) / 1.271 mol = 15.73 L/mol
Then, calculate the specific internal energy of the air using the specific heat at constant volume.
u = Cv(T - T0)
Where, u = specific internal energy, Cv = specific heat at constant volume, T = temperature of the air inside the cylinder, T0 = ambient temperature. u = (717 J/kg K)(473 K - 288 K) = 132.7 kJ/kg
So, the specific internal energy of the air is 132.7 kJ/kg.
Finally, calculate the energy of the air in the cylinder using the formula:X = u - u0 + (P - P0)v - T0(s - s0)
Where,
X = energy, u = specific internal energy of the air in the cylinder, u0 = specific internal energy of the air at ambient conditions, v = specific volume of the air in the cylinder, P = pressure of the air in the cylinder, P0 = ambient pressure, T0 = ambient temperature, s = specific entropy of the air in the cylinder, s0 = specific entropy of the air at ambient conditions.X = 132.7 kJ/kg - 42.9 kJ/kg + (130000 Pa - 100000 Pa)(15.73 L/mol) - (288 K)(1.005 kJ/kg K ln(15.73 L/mol) - 1.005 kJ/kg K ln(22.41 L/mol)) = 89.8 kJ/kg
Therefore, the energy of the air in the cylinder is 89.8 kJ/kg.
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On September 30, 2021, Athens Software began developing a software program to shield personal computers from malware and spyware. Technological feasibility was established on February 28, 2022, and the program was available for release on April 30, 2022. Development costs were incurred as follows: September 30 through December 31, 2021 $ 2,200,000
January 1 through February 28, 2022 800,000
March 1 through April 30, 2022 400,000
Athens expects a useful life of four years for the software and total revenues of $5,000,000 during that time. During 2022, revenue of $1,000,000 was recognized.
Required:
Prepare a journal entry in each year to record development costs for 2021 and 2022.
The journal entries to record the development costs for the software program in 2021 and 2022 are as follows:
In 2021:
Debit: Development Costs (asset account) - $2,200,000
Credit: Cash - $2,200,000
In 2022:
Debit: Development Costs (asset account) - $1,200,000
Credit: Cash - $1,200,000
The development costs for the software program are recorded as an asset on the balance sheet until the program is available for release. Once the technological feasibility is established, the costs can be capitalized and recorded as an intangible asset.
In 2021, from September 30 to December 31, Athens Software incurs development costs of $2,200,000. To record this expense, we debit the Development Costs asset account and credit the Cash account for the same amount, indicating the cash outflow.
In 2022, from January 1 to February 28, Athens incurs additional development costs of $800,000, and from March 1 to April 30, incurs $400,000. However, since technological feasibility was established on February 28 and the software was available for release on April 30, only the costs incurred after February 28, totaling $1,200,000, can be capitalized. Similar to the previous entry, we debit the Development Costs asset account and credit the Cash account for $1,200,000.
It's important to note that no revenue is recorded in the journal entries for development costs. Revenue recognition occurs separately and is based on the company's estimates of total revenues from the software program over its useful life.
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Ms. Green is single and over 65 years old. She received the following income in the current year:
Interest from certificates of deposit $3,000
Tax-exempt interest 6,000
Taxable dividends 5,000
Taxable pension 20,000
Wages from consulting work 9,000
Social security benefits 14,000
She did not have any adjustments (above the line deductions) to her income. What is the taxable amount of Ms. Green's social security benefits?
a. $7,000
b. $9,000
c. $11,900
d. $14,000
e. $18,000
Ms. Green is a single and over 65 years old. In the current year, she received an income of $14,000 and $18,000. Her filing status as a single person, and her age, makes her eligible for higher standard deduction than younger filers. The answer is D and E.
To determine her taxable income, she would first subtract either the standard deduction or itemized deductions from her gross income. Ms. Green's standard deduction for 2021 is $14,650, which means she would subtract this amount from her total income to find her taxable income.
Using the income information provided in the question, if Ms. Green uses the standard deduction of $14,650, her taxable income for the year would be $0 since her total income ($14,000 + $18,000 = $32,000) is less than the standard deduction.
However, if Ms. Green decides to itemize her deductions instead of taking the standard deduction, she would need to total all her eligible expenses and then use the amount that exceeds her standard deduction as an itemized deduction.
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Helios inc. has a low market share for its achilles range of running shoes in the south atlantic region. which index reflects this information?
Low brand development index (BDI) index reflects this information for Helios inc. has a low market share for its Achilles range of running shoes in the south atlantic region.
The brand development index measures your brand's market performance by comparing its value to the global average across all markets. This method determines a brand's sales potential in a specific market.
The causes of a poor brand development index and category development index are listed below. if the market or brand share is low yet there is a considerable possibility for growth. It's also possible that the brand is struggling on the market despite the fact that its product category shows a lot of promise.
Along with the brand development index and category development index, these two indicators are included in the sales analytics methodologies.
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4. "It fits my budget, and I can get to school and work easily." Rent. Not rent.
Answer:
Rent.
Explanation:
the united nations recommends that edcs use what percentage of their gdps for economic assistance?
The United Nations does not provide a specific percentage for economic assistance that EDCs (Economically Developing Countries) should use from their GDPs.
The United Nations recommends that EDCs prioritize sustainable economic development, poverty reduction, and the attainment of the Sustainable Development Goals (SDGs). To achieve these goals, EDCs are encouraged to mobilize resources through domestic resource mobilization, including tax reform and broadening the tax base, as well as leveraging external resources such as aid, investment, and trade. The UN also advocates for more transparent and accountable use of resources and effective public financial management systems.
In summary, while the UN does not specify a percentage for economic assistance, it emphasizes the importance of using resources efficiently and effectively to promote sustainable economic development and reduce poverty.
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