Which of the following is not true about communisim? 1. it was outlined by Karl Marx in the famous text "Communist Manifesto". 2. It has a weak central government 3. Because the government makes production decisions, there tends to be a lot of shortages and surpluses. 4. There is public ownership of all enterprises.
Answers
Which of the following is not true about communisim? 1. it was outlined by Karl Marx in the famous text "Communist Manifesto". 2. It has a weak central government 3. Because the government makes production decisions, there tends to be a lot of shortages and surpluses. 4. There is public ownership of all enterprises.
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You are the CEO of Company A and you are using an industry leader (Leader Company) for benchmarking. Company A is much smaller than Company B in terms of total assets and total sales revenue. You should compare the:
Answers
Answer:
net income to net sales ratio of Company A to net income to net sales ratio of Leader Company
Explanation:
Benchmarking is defined as the practice of measuring a business's services, sales, and operations to another company's that is considered to be one of the best in the industry.
The purpose of benchmarking is to find out the reason for superior performance of top companies and using the knowledge to improve performance of one's own company.
In the given scenario company A is much smaller than company B so the benchmarking method must consider difference in scale of operations.
The best way will be to use ratio of net income to net sales of each is the companies.
A. The investments were sold for $175,000 cash. B. Equipment and land were acquired for cash. C. There were no disposals of equipment during the year. D. The common stock was issued for cash. E. There was a $90,000 debit to Retained Earnings for cash dividends declared. Prepare a statement of cash flows, using the direct method of presenting cash flows from operating activities. Be sure to complete the heading of the statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.
Answers
The net cash on Livers Inc statement of cash flows equals to the amount of $155,000.
Preparation of the statement of cash flows:Livers Inc.
Statement of Cash Flows
For the Year Ended December 31, 20Y3
Cash flows from operating activities:
Net Income $500,000
Adjustments to reconcile net loss to
net cash flow from operating activities:
Depreciation $100,000
Gain on sale of investments
Changes in current operating assets and liabilities
Increase in accounts receivable
Increase in inventories
Increase in Accounts Payable $40,000
Decrease in accrued expenses payable
Net cash flow provided by operating activities $490,000
Cash flows from investing activities:
Cash received from sale of investments $175,000
Less: Cash paid for purchase of land
Less: Cash paid for purchase of equipment
Net cash flow used for investing activities
Cash flows from financing activities:
Cash received from issuance of common stock $125,000
Less cash paid for dividends
Net cash flow from financing activities
Net Increase in cash $5,000
Cash at the beginning of the year $150,000
Cash at the end of the year $155,000
Missing words "The comparative balance sheet of Livers Inc. for December 31, 20Y3 and 20Y2, is shown as follows:
Dec. 31, 20Y3 Dec. 31, 20Y2
Assets
Cash 155,000 150,000
Accounts Receivable (net) 450,000 400,000
Inventories 70,000 750,000
Investments 0 100,000
Land 500,000 0
Equipment 1,400,000 1,200,000
Accumulated Depreciation-equipment (600,000) (500,000)
Total Assets 2,675,000 2,100,000
Liabilities and Stockholders’ Equity
Accounts Payable 340,000 300,000
Accrued Expenses Payable 45,000 50,000
Dividends payable 30,000 25,000
Common Stock, $4 par 700,000 600,000
Paid-in Capital in Excess of par-Common Stock 200,000 175,000
Retained Earnings 1,360,000 950,000
Total Liabilities and stockholders’ equity 2,675,000 2,100,000
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PLEASE HELP
Discussion of how business intelligence is used or could be used to support SpaceX's 3D printing process
Answers
Business intelligence (BI) can be employed to provide assistance to SpaceX's 3D printing procedure in several ways:
How business intelligence is used or could be used to support SpaceX's 3D printing processQuality regulation: BI tools could facilitate the monitoring of the quality of 3D-printed parts, recognize errors anddefects, plus detect areas for advancement. By exploring data from the 3D printing step, SpaceX may discover structures and trends that hint towards potential troubles with both the design as well as fabrication process, allowing them to take corresponding adjustments.
Cost enhancement: BI tools might be implemented to investigatethe cost of 3D printing and pinpoint sections where price savings can be accomplished. For example, by examining information concerning material usage, labor costs, and equipment efficacy, SpaceX will be able to minimize expenditures while retaining greatness.
Process streamlining: BI tools may be exploited to optimize the 3D printing method by discovering hurdles, problems, or opportunities for betterment. For example, by studying data on utilization of machines and printing rate, SpaceX will recognize openings to escalate proficiency and reduce printing time.
Predictive maintenance: BI instruments could promote surveillance of health of 3D printers and anticipate when upkeep or renovations are needed. By evaluating data regarding functioning of devices and maintenance history, SpaceX would be capable of foreseeing repair needs and arrange mending or substitution ahead of time, curtailing downtimes and heightening machine operability.
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explain the importance of financial planning
Answers
Answer:
Financial planning is a step-by-step approach to meet one's life goals. A financial plan acts as a guide as you go through life's journey. Essentially, it helps you be in control of your income, expenses and investments such that you can manage your money and achieve your goals.
A manufacturing company is considering two alternative locations for a new facility. The fixed and
variable costs for the two locations are found in the table below. For which volume of business wo
the two locations be equally attractive? If the company plans on producing 50,000 units, which loc
would be more attractive? {7}
Fixed Costs
Variable Costs ($ per unit)
Glen Rose
$1,000,000
25
Mesquite
$1,500,000
23
Answers
Answer:1,000,025
Explanation:if you add all it up you get 1,000,025
Why would someone use an LLC instead of a S-Corporation? Include in your answer the limitations on who can own an S Corporation
Answers
Because they offer liability similar to that of a corporation but are simpler to set up and have less regulatory requirements than other types of corporations, LLCs are popular.
Briefing:-Due to the personal liability protection provided by LLCs, the owner's personal assets are shielded from creditors' claims.
Why choose an LLC over a corporation?The fact that the LLC can provide pass-through taxes without having to comply with Subchapter S rules is a significant benefit over the S company.
Why would someone decide on a S company over a partnership to conduct business?The ability of a S corporation to transfer profits on to the shareholders is one of its advantages. Many business owners use this legal framework due to this benefit.
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______ is best described as a
statistical technique used to find relationships
between variables for the purpose of predicting
future values.
Answers
The technique used to find relationships between variables for the purpose of predicting future values is known as regression analysis.
What is the importance of regression analysis?To find the most significant factors impacting the issue by using reliable sources, regression analysis is used.
It helps to identify the factors based on priority like important factors, factors that can be ignored and the connection between those elements to predict the values for future.
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A cat food company’s marketing department knew that consumers wanted natural products in their pets’ food, so they changed the labels on the cans to stress which ingredients were natural, but left off the other ingredients. This illustrates
A. greenwashing
B. alternative facts
C. whiteboarding
D. plagiarism
E. whistleblowing
Answers
This scenario illustrates the concept of "greenwashing." So, the correct choice is option A.
Greenwashing refers to the deceptive or misleading marketing practices employed by companies to present their products or services as more environmentally friendly or natural than they actually are.
In this case, the cat food company's marketing department recognized the consumer demand for natural pet food and decided to capitalize on it by changing the labels on the cans. By emphasizing the natural ingredients and intentionally omitting the other ingredients, they create a misleading perception that their product is entirely natural.Greenwashing is a form of marketing manipulation that aims to attract environmentally conscious consumers by providing a false impression of sustainability or naturalness. It can involve various strategies, such as selective labeling, misleading claims, or exaggeration of environmentally friendly features. The intention is to influence consumer perception and purchasing decisions without necessarily making substantial changes to the product itself.However, greenwashing undermines consumer trust and the credibility of companies that engage in such practices, as it can mislead consumers and hinder their ability to make informed choices.
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12.) A hypothetical condition would be employed in an assignment to
Answers
Answer:
n an appraisal assignment, a hypothetical condition is used when a property is appraised under a condition that is contrary to what is known by the appraiser to exist on the effective date of the assignment results.
Explanation:
Marchete Company produces a single product. They have recently received the results of a market survey that indicates that they can increase the retail price of their product by 10% without losing customers or market share. All other costs will remain unchanged. Their most recent CVP analysis is presented below. Current Units sold 1,000 Sales Price per Unit $140 Variable Cost per Unit $97 Contribution Margin per Unit $43 Fixed Costs $36,464 Break-Even (in units) 848 Break-Even (in dollars) $118,720 Sales $140,000 Variable Costs $97,000 Contribution Margin $43,000 Fixed Costs $36,464 Net Income (loss) $6,536 If they enact the 10% price increase, what will be their new break-even point in units and dollars
Answers
Answer:
The new breakeven point = 640 units
New breakeven point in dollars = $98,560
Explanation:
if price increases by 105 from $140 to $154, their contribution margin will increase from $43 to $57 per unit (assuming all costs remain the same).
The new breakeven point = $36,464 / $57 = 639.72 ≈ 640 units (round up)
New breakeven point in dollars = 640 x $154 = $98,560
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DUE TODAY
You are writing an information guide for young students titled Banking in the United States Made Easy!
Explain each of the following terms in your own words.
Currency -
Interest -
Money supply -
Profit -
Stock -
Answer each of the following questions in complete sentences.
Banks are businesses. Like other businesses, they seek profit. How do they earn profit?
Why might an individual want to use a bank? Give an example of why a person would use a bank.
Why might a business want to use a bank? Give an example of why a business owner would use a bank.
What is the Federal Reserve?
The money supply is the total amount of money available in the economy. How do changes in the money supply affect people and businesses?
How does banking affect the money supply?
What would happen if banking didn’t exist?
This chart shows a sequence of causes and effects in how banking can affect society. Complete the chart by selecting the correct word.
1. The Fed reduces interest rates.
2. Banks will make (more or fewer?) loans.
3. The money supply (increases or decreases?).
4. People and businesses are (more or less) likely to spend and borrow money.
5. The number of jobs will (decrease or increase?).
6. People will buy (more or fewer?) cars, homes, and fun stuff.
7. Growth of the economy speeds up.
8. Inflation will (decrease or increase?).
Answers
Answer:
Currency - Currency refers to the paper money and coins that are used to buy goods and services in the United States.
Interest - Interest is the fee that is charged by a bank when a person or a business borrows money. It is the cost of borrowing money.
Money supply - Money supply refers to the total amount of money available in the economy, including cash, coins, and bank deposits.
Profit - Profit is the money that a business makes after all its expenses have been paid. It is the amount that is left over.
Stock - A stock is a share in the ownership of a company. When someone buys a stock, they own a small part of the company.
How do banks earn a profit?
Banks earn a profit by charging interest on loans and by investing the money that people deposit in their accounts.
Why might an individual want to use a bank?
An individual might want to use a bank to keep their money safe, to earn interest on their savings, or to take out a loan to buy a car or a home.
Why might a business want to use a bank?
A business might want to use a bank to keep its money safe, to borrow money to invest in the business, or to process payments from customers.
What is the Federal Reserve?
The Federal Reserve is the central bank of the United States. It is responsible for regulating the country's financial system, including setting monetary policy and supervising banks.
How do changes in the money supply affect people and businesses?
Changes in the money supply can affect people and businesses by causing inflation, which is a general increase in prices, and by affecting interest rates.
How does banking affect the money supply?
Banking affects the money supply by creating and destroying money through the process of lending and borrowing.
What would happen if banking didn’t exist?
If banking didn't exist, people would have to keep their money in their homes or in other places, and businesses would have to find other ways to borrow money and process payments.
1. The Fed reduces interest rates.
2. Banks will make more loans.
3. The money supply increases.
4. People and businesses are more likely to spend and borrow money.
5. The number of jobs will increase.
6. People will buy more cars, homes, and fun stuff.
7. Growth of the economy speeds up.
8. Inflation will increase.
Explanation:
Roger Fox made deposits of $900 semiannually to Reed Bank at the end of each period, which pays 6% interest compounded semiannually. After seven years Roger made no more deposits. What will be the balance in the account eight years after the last deposit?
Answers
The balance in the account eight years after the last deposit is $24,676.68
What is an ordinary annuity?
Ordinary annuity means a fixed amount that would be paid over a period of time, with payments being made at the end of each period.
Like in this scenario, the $900 would be deposited every six months into the Reed Bank account for 7 years, in essence, our first task is to determine the balance in the account at the time of the last deposit in 7 years using the future value formula of an ordinary annuity as shown below:
FV=annuity payment*(1+r)^N-1/r
annuity payment=$900
r=semiannual interest rate=6%/2=0.03
N=number of semiannual payments in 7 years=7*2=14
FV=$900*(1+0.03)^14-1/0.03
FV=$900*(1.03)^14-1/0.03
FV=$900*(1.51258972485511-1)/0.03
FV=$900*0.51258972485511/0.03
FV=$15,377.69
The balance in the account eight years after the last deposit can be computed using the future value formula of single cash of $15,377.69
FV=PV*(1+r)^N
PV=balance at the time of the last deposit=$15,377.69
r=semiannual interest rate=6%/2=0.03
N=number of semiannual periods in 8 years=8*2=16
FV=$15,377.69*(1+0.03)^16
FV=$24,676.68
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QUESTION 1 of 10: You are considering leasing a store site that has 1,200 square feet. The landlord is asking for a rent of $65 per square
foot per year. How much is the rent per month?
a) $6,000
b) $6.250
c) $6,500
d) $6,750
Submit
Answers
Answer:
c) $6,500
Explanation:
The rent per year = $65 per foot
Total square feet = 1200
Rent per year = $65 x 1200
=$78,000
Rent per months will be $78,000 /12
=$6,500
Discuss the functions of government necessary for a country
Answers
The functions of government are crucial for the proper functioning and development of a country. These functions can vary depending on the type of government system in place, but there are several key functions that are commonly considered necessary for a country's stability and progress.
1. Legislation and Governance: One of the primary functions of government is to create and enforce laws that maintain order, protect individual rights, and promote the welfare of the citizens. Governments establish institutions and frameworks for governance, ensuring the rule of law and providing a system of justice.
2. Defense and Security: Governments are responsible for safeguarding the country and its citizens from external threats. This involves maintaining armed forces, intelligence agencies, and diplomatic relations to protect national security interests.
3. Economic Management: Governments play a crucial role in managing and regulating the economy. They establish fiscal and monetary policies, oversee financial institutions, promote trade, and create an environment that supports economic growth and stability. Government intervention is often necessary to address market failures, promote fair competition, and protect consumers.
4. Social Welfare: Governments have a responsibility to ensure the well-being and social welfare of their citizens. This includes providing basic services such as healthcare, education, social security, and infrastructure development. Governments also implement social policies to address poverty, inequality, and promote equal opportunities.
5. Public Services: Governments are responsible for delivering essential public services, such as transportation, utilities, public safety, and environmental protection. These services are necessary for the functioning of society and improving the quality of life for citizens.
6. Diplomacy and International Relations: Governments engage in diplomatic activities and maintain relationships with other nations. They negotiate treaties, participate in international organizations, and represent the country's interests abroad. Governments also address global challenges, such as climate change and human rights, through international cooperation.
7. Public Communication and Information: Governments have a role in providing transparent and accurate information to the public. They engage in public communication, disseminate information, and promote citizen engagement and participation in the decision-making process.
These functions of government are essential for maintaining social order, promoting economic growth, protecting citizens' rights, and ensuring the overall well-being of a country. Effective governance requires a balance between these functions, adaptability to changing circumstances, and responsiveness to the needs and aspirations of the citizens.
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since noah is worried about completing his research project on time, the most helpful thing he could do is to choose a topic that
a. is broad
b. he has no interest in
c. is easy to research
d. he knows very little about
Answers
Answer:
c
Explanation:
They since Noah is worried about completing his research project on time, the most helpful thing he could do is to choose a topic that is easy to research. Thus, option (c) is correct.
What is research?The term “research” refers to generating and creating new ideas with the help of previous studies and phenomena. Using primary valid sources that have already been published on a subject that is related For example, journals, articles, population data, and historical events are based.
According to the case, Noah is worried about completing his research project. It was the necessary to decide the appropriate significance topic related to the research interested. The topic was the known to the easy to the search a matter and the completing her project.
As a result, the significance of the research are the aforementioned. Therefore, option (c) is correct.
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What is porter's 5 forces?
Answers
Answer:
Porter's Five Forces is a framework for analyzing a company's competitive environment.
The number and power of a company's competitive rivals, potential new market entrants, suppliers, customers, and substitute products influence a company's profitability.
Explanation:
1. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain
2. Assume that when a purchase of supplies of $2,650 for cash was recorded, both the debit and the credit were journalized and posted as $2,560. (a) Would this error cause the trial balance to be out of balance? (b) Would the trial balance be out of balance if the $2,650 entry had been journalized correctly but the credit to Cash had been posted as $2,560?
Answers
1. If the two totals of a trial balance are equal, it does not mean that the accounting records are free of errors.
2a) The error of commission cannot cause the trial balance to be out of balance.
2b) If the $2,650 entry had been journalized correctly but the credit to the Cash had been posted as $2,560, the trial balance would not balance because another account was debited with $2,650.
What are the errors that do not affect the trial balance?The errors that do not affect the trial balance or cause it to be out of balance include:
Errors of principleErrors of original entryErrors of omissionErrors of commissionCompensating errors.A trial balance will be out of balance if an error is made on one side of the ledger.
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Data related to the acquisition of timber rights and intangible assets during the current year ended December 31 are as follows:
Timber rights on a tract of land were purchased for $1,600,000 on February 22. The stand of timber is estimated at 5,000,000 board feet. During the current year, 1,100,000 board feet of timber were cut and sold.
On December 31, the company determined that $3,750,000 of goodwill was impaired.
Governmental and legal costs of $6,600,000 were incurred on April 3 in obtaining a patent with an estimated economic life of 12 years. Amortization is to be for three-fourths of a year.
Required:
1. Determine the amount of the amortization, depletion, or impairment for the current year for each of the foregoing items. Do not round your intermediate calculations.
Item Impairment, Amortization or Depletion Expense
a. $
b. $
c. $
Hide
2. Journalize the adjusting entries required to record the amortization, depletion, or impairment for each item.
Answers
Solution:
Given :
Timber rights were purchased for = $1,600,000
The stand of the timber is = 5,000,000 board feet
Goodwill impaired by the company = $3,750,000
Timber cut and sold during current year = 1,100,000 board feet
Government legal cost = $6,600,000
Therefore the amount of amortization , depletion and the impairment of the current year for each foregoing item are :
1.
Item Impairment, Amortization or the depletion
a). $ 352,000
b). $ 3,750,000
c). $ 412,500
2. Jornalizing the entries that required to record the depletion, amortization or the impairment of each of the items are :
a). The depletion expense = $ 352,000
Accumulated expense = $ 352,000
b). Loss from the impaired goodwill = $3,750,000
The goodwill = $3,750,000
c). Amortization expenses patent= $412500
Patent = $412500
In computing the cost of merchandise sold,does each of the following items increase or decrease that cost? (a) Transportation costs,(b) beginning merchandise inventory, (c) purchase discounts, (d) Ending merchandise inventory
Answers
Answer: option (d)
Explanation:
According to the box "Reaching Beyond Our Borders, Tesla was able to do the impossible feat of
Multiple Choice
opening up a new auto plant in China in under 18 months.
sending the first U.S. citizen to the moon.
building an electric bicycle that can be recharged on solar power.
building over 1 million vehicles each year.
Answers
Answer: Based on the information provided in the box “Reaching Beyond Our Borders,” the correct answer would be option A: opening up a new auto plant in China in under 18 months.
In the indicated time, Tesla indeed managed to complete the incredible achievement of opening a new auto manufacturing plant in China in under 18 months, a testament to their commitment to advancing the use of renewable energy and marking a significant expansion in their global presence.
Explanation:According to the box 'Reaching Beyond Our Borders', Tesla was able to accomplish the seemingly impossible feat of opening up a new auto plant in China in under 18 months. This accomplishment was striking as it signified a significant leap towards promoting sustainable energy on a global level, given Tesla's primary focus on electric vehicles. Meanwhile the options of - sending the first U.S. citizen to the moon, building an electric bicycle that can be recharged on solar power, and building over 1 million vehicles each year - do not correctly match the facts reportedly associated with Tesla's activities within the given timeframe.
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Which of the following government offices help individuals fund their college education?
A.
Office of Educational Technology
B.
Office of Postsecondary Education
C.
Office of Vocational and Adult Education
D.
Office of Federal Student Aid
Answers
Answer:
D. office of student federal aid
Explanation:
Managerial accounting reporting by a public firm is required to follow the rules of GAAP.
a. True
b. False
Answers
Answer:
b. False
Explanation:
Only external reports which are used by various stakeholders (Investors, customers, tax authorities, banks, suppliers etc.) are required to follow reporting framework laid out in GAAP.
However, for Managerial reporting , no strict requirements are set for the preparation of reports as the management use various reporting styles to manage business performance. An example is the use of Variable Costing Income Statements that show the relationship between outputs and costs resulting from different activity levels.
Which of the following is true?
A. None of the above is true.
B. Free trade areas and customs unions do not conflict with either the most- favoured-nation or national treatment principles of the GATT. C .Free trade areas and customs unions are a violation of the most-favoured-nation principle, but were permitted by the contracting parties to the GATT so long as they created trade.
D. Free trade areas and customs unions are a violation of the national treatment principle, but were permitted by the contracting parties to the GATT so long as they created trade.
Answers
Answer:
C.
Explanation:
In the context of the General Agreement on Tariffs and Trade (GATT), free trade areas and customs unions were seen as exceptions to the most-favored-nation (MFN) principle, which states that countries should not discriminate between their trading partners. Free trade areas and customs unions involve preferential treatment among member countries, which goes against the MFN principle.
However, the contracting parties to the GATT allowed for the creation of free trade areas and customs unions as long as they promoted trade and economic integration among member countries. These exceptions were made in recognition of the potential benefits that such arrangements could bring.
Therefore, option C accurately describes the stance on free trade areas and customs unions in relation to the GATT.
Suppose The government decides to increase taxes by 40 billion in order to increase social security benefits by the same amount if the MPC is 0.9 will aggregate demand increase decrease or remain unchanged in at current prices with this combined tax transfer policy
Answers
Answer:
Suppose the government decides to increase taxes by $40 billion in order to increase Social Security benefits by the same amount. If the MPC is 0.9, will aggregate demand increase, decrease or remain unchanged at current prices with this combined tax transfer policy? No change Increase in AD O Decrease in AD
What do workers in the law, public safety, corrections, and security field do?
A. They ensure that people are happy with their life experiences.
B. They help people realize their full potential.
C. They look for transportation patterns for delivering goods.
D. They seek to protect people and their property.
Answers
Answer: D ←←←←←←←←←←←←←←←←←←←←←←←←←←←←←←←
HELP
Which of the following is not true of how you should give directions to a visitor or guest?
You should create a mental picture of the entire route in your mind and picture yourself walking or driving it along with the guest.
You should give a travel time estimate for the whole trip from start to finish instead of from landmark to landmark, since that gets confusing.
You should give your guest the simplest route, not the quickest, because you don't want them to get lost along the way.
You should ask the customer to repeat the directions back to you so you can make sure they have understood them properly.
Answers
Answer:
The statement "You should give your guest the simplest route, not the quickest, because you don't want them to get lost along the way." is not true. It is usually best to give the quickest route to the destination, as long as it is not too complicated or confusing. It is important to provide clear and concise directions to help the guest arrive at their destination efficiently and without getting lost. However, if the quickest route is very complicated or difficult to follow, it may be more helpful to provide a simpler route that is easier for the guest to understand and follow. Asking the guest to repeat the directions back to you can also be a helpful way to ensure that they have understood the directions properly.
Explanation:
The chart shows taxable income.
A 2-column table has 6 rows. The first column has entries Income, Deductions, Taxable income, taxes, tax credit, and taxes owed. The second column has entries 50,000, negative 8,950, 41,050, 7,090, negative 1,500, and 5,590.
Which explains a difference between income and taxable income?
Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses.
Income is what a person earns, while taxable income reflects what is left after paying federal taxes.
Income is what a person earns, while taxable income reflects what is left after paying local and state taxes.
Income is what a person earns, while taxable income reflects what is received from the IRS in a tax refund.
Answers
Income is what a person earns, while taxable income reflects deductions subtracted from relevant expenses. explains the difference between income and taxable income. Option A
This is further explained below.
What explains the difference between income and taxable income?Generally, The term "taxable income" refers to the basis upon which a tax is levied under a system that taxes income. In other words, the amount of revenue that was subject to taxation by the government.
In most cases, it takes into account some or all forms of revenue and deducts costs as well as any other relevant expenses.
In conclusion, Earnings, or income, are the basis for calculating a person's taxable income, which takes into account any necessary deductions. breaks out the distinction between take-home pay and taxable earnings. Solution A
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Answer: A. Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses.
Explanation:
what contributes to a negitive brand
Answers
When business executives participate in unethical or questionable behaviours, their brands are negatively perceived.
What is a negative brand?Both positive and negative branding use a variety of strategies. Most people assume that using negative branding involves painting your rival in a poor light. It is notorious for being dishonest and aggressive.
Even when consumers adore the goods, negative brand awareness tends to turn them off. For instance, when allegations that Nike was manufacturing its shoes in sweatshops emerged, the company was boycotted globally.
Thus, when business executives participate in unethical or questionable behaviours.
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At the end of 2021, Windsor Co. has accounts receivable of $749,900 and an allowance for doubtful accounts of $23,580. On January 24, 2022, it is learned that the company’s receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,564.
(a)
Prepare the journal entry to record the write-off. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answers
Answer:
DR Allowance for Doubtful Debt $4,564
CR Accounts Receivable $4,564
Using the Allowance method means that an allowance has already been provided from which uncollectible accounts will be deducted from.
When an amount is uncollectible therefore, it will be debited to the Allowance account to reduce it. Accounts receivable will be credited to recognise that a receivable is now uncollectible.
Leasing is often referred to as off-balance-sheet financing because of the way that the transaction is treated and reported in financial statements. According to the FASB-issued Statement 13, which of the following statements is true?
A. Assets leased under financial or capital leases should be reported as fixed assets on the balance sheet.
B. Leased assets should be reported as current assets on the balance sheet.
C. The present value of all future lease payments should be reported as a liability on the balance sheet.
D. The present value of all past lease payments should be reported as assets on the balance sheet.
Consider the following statement on capital leases:
According to Statement 13, the payments on a financial lease should be treated as an operating expense and should not in any case affect a firm's true debt ratio. Is the preceding statement true or false?
a. True
b. False
To consider the financial statement effects of leasing versus purchasing an asset, review the following case of Shoe Building Inc.
Shoe Building Inc. needs equipment that will cost the company $800. Shoe Building Inc is considering to either purchase the equipment by borrowing $800 from a local bank or leasing the equipment. Assume that the lease will be structured as an operating lease. Some data from Shoe Building Inc.'s current balance sheet prior to the lease or purchase of the equipment are:_____.
1. The company's current debt ratio is _____.
2. If the company purchases the equipment by taking a loan, the total debt in the balance sheet will _____, and the debt ratio will change to _____.
3. If the company leases the equipment, the company's debt ratio will _____ because the lease is not capitalized.
4. In this case, the company's financial risk will be _____ under a lease agreement as compared to the financial risk in purchasing the equipment by taking a loan.
5. However, if the lease is capitalized, the financial risk under the lease agreement will be _____ as compared to the risk in buying the equipment.
Answers
Solution :
Part 1
a). According to the\(\text{ FASB-issued statement}\) 13 :
The Assets that are leased under the capital leases or the financial should be reported as the fixed assets on balance sheet.
b). False, the payments on the financial lease should not be treated as the operating expense.
Part 2
1. The debt ratio = \($\frac{2400}{6000} $\)
= 0.40
2. The total debt in the balance sheet is 2400 + 800 = $ 3200 whereas debt ratio will change to 0.4706
3. Debt ratio of the company will remain same as the lease will not be capitalized.
4. The financial risk of the company will be less under the the lease agreement as compared \(\text{to the financial risk in purchasing the equipment }\) by taking the loan.
5. However, when lease is capitalized, financial risk under lease agreement will remain same as \(\text{compared to the risk in buying the equipment.}\)
