Answers
Answer:
E
Explanation:
Social media external information source are you using. The answer is OPTION C.
When reading product reviews posted online by consumers, you are using social media as an external information source. Online forums provide a space for consumers to share their experiences and opinions about products they have purchased.
These reviews can be valuable for gathering insights into the pros and cons of a product, its performance, and overall customer satisfaction. Social media platforms have become popular sources for consumers to share their feedback, and businesses often monitor these channels to understand customer sentiments and improve their products or services based on the feedback received.
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Related Questions
Discuss the various system for internal administration for financial organisation.
Answers
The various system for the internal administration of financial organizations includes accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.
Internal administration systems for financial organizations are systems that oversee the internal functioning of the financial organizations and their staff. They enable businesses to establish and follow specific procedures that ensure their operations are stable, transparent, and responsible.
Here are some of the various systems for internal administration for financial organizations:
1. Accounting systems: Accounting systems are essential to ensure the accuracy of financial transactions and the reliability of financial statements. The accounting system should provide information about the current financial status of the organization and account for all income and expenses.
2. Budgeting systems: Financial organizations use budgeting systems to allocate resources and plan expenditures. This system can be used to control the financial performance of a department, project, or organization.
3. Internal controls: Internal controls are the procedures, policies, and activities that help an organization to maintain the integrity of its operations and prevent fraud. The effectiveness of these controls depends on how well they are implemented.
4. Performance management systems: Performance management systems are used to ensure that the goals of an organization are achieved. This system can be used to monitor and evaluate employee performance, provide feedback, and manage employee development.
5. Risk management systems: Risk management systems help financial organizations to identify and manage risks. They can be used to assess the risk associated with various activities and develop strategies to mitigate those risks.
6. Compliance management systems: Compliance management systems help financial organizations ensure that they are following all relevant regulations and laws. They can be used to monitor compliance with internal policies and procedures as well as external regulations.
In conclusion, internal administration systems for financial organizations are essential for ensuring the stability and transparency of financial operations. These systems include accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.
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a. On October 1, Year 1, YD collected $24,000 for consulting services it agreed to provide during the coming year.
b. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1.
Required
a. Record the events under an accounting equation.
b. Prepare an income statement, balance sheet, and statement of cash flows for the 2013 accounting period.
c. Ignoring all other future events, what is the amount of service revenue that would be recognized in 2014?
Answers
Answer:
A. Assets= Liabilities + S/E
Cash= Unearned revenue + Retained earnings
$24,000 = $18,000 + $6,000
Bi) Income statement $6,000
Bii) Balance sheet Total Asset $24,000
Balance sheet Total Liabilities $24,000
Biii) Ending Cash Balance $24,000
C. $18,000
Explanation:
a. To Record the events under an accounting equation.
Event Assets= Liabilities + S/E
Cash= Unearned revenue + Retained earnings
Event $24,000 =$24,000 + $0
Adjustment. = -$6,000 + $6,000
$24,000 = $18,000 + $6,000
($24,000*3/12=$6,000)
($24,000*9/12=$18,000)
b) Preparation of an income statement, balance sheet, and statement of cash flows for the 2013 accounting period.
Bi)
Yard Designs INCOME STATEMENT
For the Year Ended December 31, 2013
Revenue $6,000
($24,000*3/12=$6,000)
Expense 0
Net Income $6,000
Therefore YD Income statement is $6,000
Bii)
Yard Designs BALANCE SHEET as of december 31, 2013
ASSETS
Cash $24,000
Total Assets $24,000
LIABILITIES
Unearned Revenue $18,000
($24,000*9/12=$18,000)
Total Liabilities $18,000
STOCKHOLDERS’ EQUITY
Retained Earnings $6,000
($24,000*3/12=$6,000)
Total Stockholders’ Equity $6,000
TOTAL LIAB. AND STOCKHOLDERS’ EQUITY $24,000
($18,000+$6,000)
Therefore YD Balance Sheet As Of December 31, 2013 will be :
Total Assets $24,000
Total Liabilities $24,000
Biii)
Yard Designs STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2013
Cash Flows From Operating Activities:
Cash Receipt from Revenue $24,000
Net Cash Flow from Operating Activities $24,000
Cash Flows From Investing Activities $0
Cash Flows From Financing Activities:
Net Change in Cash $24,000
Plus: Beginning Cash Balance $0
Ending Cash Balance $24,000
Therefore YD statement of Cash flow ending Cash Balance is $24,000
C. Calculation to determine the amount of service revenue that would be recognized in 2014
Based on the information given the Nine months of unearned revenue from 2013 will be recognized in 2014
2014 Recognized service revenue=$24,000*9/12
2014 Recognized service revenue= $18,000
Therefore the amount of service revenue that would be recognized in 2014 is $18,000
How would implementing the cost-volume-profit analysis benefit a company? As a manager, which income statement format do you find more useful - the traditional financial accounting method or the contribution margin method? Why?
Answers
It provides insights into the relationship between sales volume, costs, and profitability, helping managers make informed decisions about pricing, production levels, and cost management.
CVP analysis allows managers to determine the breakeven point, the level of sales needed to cover all costs, and to assess the impact of changes in sales volume, costs, or prices on the company's profitability. This analysis can guide strategic planning, budgeting, and resource allocation.
As a manager, I find the contribution margin method of income statement format more useful than the traditional financial accounting method. The contribution margin method separates costs into fixed and variable components, allowing for a clearer understanding of how changes in sales volume affect profitability.
It highlights the contribution margin ratio, which indicates the proportion of each sales dollar available to cover fixed costs and contribute to profits.
This format enables managers to analyze cost behavior, identify cost-saving opportunities, and evaluate the financial impact of different sales scenarios. It provides a more focused view of the underlying profitability drivers and aids in decision-making related to pricing, product mix, and cost control.
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2/2
John's employer offered him health insurance coverage for $125 per month that would
cover him as an individual. However, he was also offered the option to cover himself, bis
wife, and his child for $295 a month. How much extra would it cost John annually to add
his family to his health insurance?
Answers
Do you have, or have you ever had test-taking anxiety? What strategies will you use to manage test anxiety?
Answers
Explanation:
My test anxiety generally comes from a desire to do well. It usually accompanies the situation where I am not as prepared for the test as I would like to be, or where I have no idea what subject matter the test may cover.
__
My anxiety management strategy is to prepare for a test as well as I can in the time allotted, and detach from the outcome. In the case of specific subject matter tests (as opposed to "achievement" tests), a well-made test will be educational, so later questions help answer earlier ones. Paying attention to that possibility also manages test anxiety by letting me go back and correctly answer questions I might have missed.
__
One of the most effective techniques for managing test anxiety (beyond a decent level of preparation), is the use of Emotional Freedom Techniques (EFT), also known as "tapping." A few rounds of tapping on specific points on bodily energy meridians can greatly relieve stress and improve test performance. The process takes only minutes to learn and execute, and can be very effective. (Look up articles or videos on EFT Tapping.)
Task: Now that you are about 50% completed with your course, I would like for you to take this time to reflect on your current grade. Your task is to:
1. Review your grade by looking up your Actual Grade and Progress.
2. Write a 3-4 sentence reflection piece on how you aim to continue thriving or how you will improve your grade. This
must be in complete sentences in order to recieve appropriate credit.
Once you have gathered your information, you will enter it below in paragraph form. Everything must be in complete sentences. Please check for any grammar and/or punctuation errors.
Answers
Answer:
I don't really think you need help with this but umm you can write after looking at your grade: *this is an example*
Explanation:
(For online)
"I would like to improve my grade by focusing more and not getting distracted. Another way I would like to improve my grade is where I can work without any noise. Lastly, I would like to improve my grade by turning off any electronics in sight or reach."
(Longer sentence with some grammar and/or punctuation errors checked):
"I would like to generally improve my grade by focusing kind of more and not getting distracted, particularly contrary to popular belief. Another way I would like to mostly improve my grade basically is where I can work without any noise, which specifically is quite significant. Lastly, I would like to kind of improve my grade by turning off any electronics in sight or reach, or so they for the most part though."
-------------------------------------------------------------------------------------------------------------
(For face to face school)
"I would like to improve my grade by asking the teacher for help when needed. Try and ignore my friends when they try and talk to me in class (if you're with friends), Try and ignore people around me if they talk to each other or if they talk to me (without friends). Focus on my work and take notes when asked or needed."
(Longer sentence with some grammar and/or punctuation errors checked):
"I would like to for the most part improve my grade by asking the teacher for particular help when needed, or so they definitely thought. Try and mostly ignore my friends when they for the most part try and definitely talk to me in class (if you're with friends), generally Try and basically ignore people around me if they really talk to each definitely other or if they, for the most part, talk to me (without friends), basically contrary to popular belief. Focus on my work and particularly take notes when for all intents and purposes asked or needed, demonstrating how literally try and for the most part ignore my friends when they mostly try and specifically talk to me in class (if you\'re with friends), actually Try and basically ignore people around me if they, for the most part, talk to each definitely other or if they actually talk to me (without friends), which particularly is fairly significant."
Lastly:
Good Luck!
Someone help choose correctly
Answers
Answer:
Bottom one for sure and least I think is either top one or the second to last.
Select the correct answer how many justices must agree to an opinion for the Supreme Court to issue a decision
Answers
A majority of the justices, or five out of the nine on a full Court, must agree. The opinion has been written at this point. This is the court's judgment in writing.
What is the significance of the Supreme Court?In our system of government based on the Constitution, the Supreme Court is incredibly significant.
First and foremost, it acts as the final resort for anyone looking for justice because it is the nation's highest court. Second, it is crucial for ensuring that each arm of government understands the boundaries of its own authority because of its ability to conduct judicial reviews.
Third, it defends civil liberties and rights by overturning unconstitutional legislation. Finally, it establishes reasonable boundaries for democratic government by preventing popular majorities from passing legislation that discriminates against or unfairly benefits unpopular minorities.
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The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,000 liters in beginning work in process inventory (30% complete). During the period 71,000 liters were completed. The ending work in process was 5,000 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process
Answers
Answer:
73,000 units
Explanation:
Equivalent units
Focus on the work done during the production period when using FIFO.
Direct materials = 68,000 + 5,000 = 73,000 units
therefore,
the total equivalent units for direct materials (using the FIFO method is 73,000 units
>
2. Post to the cash short and over account (use Account No. 516).
20--
ACCOUNT
DATE
Cash Short and Over
ITEM
GENERAL LEDGER
POST. REF.
38
18
38
38
DEBIT
CREDIT
ACCOUNT NO.
BALANCE
DEBIT
CHE E UD
516
CREDIT
Answers
Cash shortage represents expense and cash overage represents revenue.
What is meant by Cash Shortage (if credit exceeds debit)?A cash shortage occurs when the total amount of cash that must be paid out is less than the amount of cash that is available. To put it another way, it occurs when the total amount of credit in a cash account exceeds the total amount of debit.
This scenario can occur in a variety of settings, including banking, business operations, and personal finance. In personal finance, for instance, an individual may run out of cash if their expenses are greater than their income. Also, if a company has to pay out a lot of money at once or its expenses are higher than its revenue, it may run out of cash.
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According to Benjamin Lang what is the hardest thing about being an entrepreneur
Answers
Answer:
Benjamin Lang was just 14 years when he decided to become his own business and hence become an entrepreneur. And he soon realized that the biggest challenge in front of him was to win the trust of the clients. And that requires a complete sacrifice plus the best level of skills to tackle the real world and project requirements. It's not that easy to win the trust of the clients. You need to work quite hard to show through your performances that you can fulfill any of the client's requirements, and only then you will be able to ensure that clients trust you, and you end up being a successful entrepreneur.
Explanation:
Benjamin Lang was only 14 when he decided to start his own business and thus became an entrepreneur.
Who is Benjamin Lang?Ben Lang is an 18-year-old online businessman whose journey began at the age of 14 when he started his eBay business.
Ben Lang soon realized that the biggest challenge before him was gaining customer trust.
And that requires total sacrifice and the best level of skills to deal with the real world and the needs of the project. It is not so easy to gain the trust of clients.
An entrepreneur needs to work hard to show by your actions and meet any client's needs and only then can ensure that clients trust you, and you end up being a successful entrepreneur.
Thus, these are lessons learned by Benjamin Lang in the stages of becoming a successful entrepreneur.
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what are Perpose of induction
Answers
The purpose of induction in business is to provide new employees with the necessary information, training, and support to help them integrate into the company culture and perform their job responsibilities effectively.
What is an Induction program?Induction programs typically include an overview of the company's mission, values, and policies, as well as training on job-specific skills and procedures.
Induction helps to ensure that new employees feel welcome and supported, understand their roles and responsibilities, and have the resources they need to succeed.
A successful induction program can help to reduce turnover, improve job satisfaction, and increase productivity.
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The postal service of St. Vincent, an island in the West Indies, recently introduced a limited edition deluxe souvenir sheet priced at $15.00 each. The initial market response was quite positive, with an increase in unit sales compared to the regular souvenir sheets. The postal service sold a total of 50,000 units of the deluxe souvenir sheet.
Based on the given information, calculate the following:
What was the postal service's increase (decrease) in total contribution margin when it sold 50,000 deluxe souvenir sheets at $15.00 each, compared to selling 80,000 regular souvenir sheets at $8.00 each?
By what percentage did the St. Vincent post office increase the selling price for the deluxe souvenir sheet compared to the regular souvenir sheets? Additionally, calculate the percentage increase in unit sales for the deluxe souvenir sheet compared to the regular souvenir sheets. (Round your answers to one-tenth of a percent.)
If the postal service wants to maintain the same total contribution margin per unit for the deluxe souvenir sheets as it did for the regular souvenir sheets, what selling price should they set for the deluxe souvenir sheet? (Round your answer to the nearest whole dollar.)
Calculate the number of deluxe souvenir sheets the postal service would need to sell at the price determined in question 3 to equal the total contribution margin earned by selling 80,000 regular souvenir sheets at $8.00 each. (Round your answer to the nearest whole number.)
Please show your calculations and provide explanations for each answer.
Answers
1. the postal service experienced an increase in total contribution margin of $7.00
2. The unit sales for the deluxe souvenir sheets decreased by 37.5% compared to the regular souvenir sheets.
3. The postal service should set the selling price for the deluxe souvenir sheet at $15.00
4. The exact number of deluxe sheets is 45.
Calculation of the increase (decrease) in total contribution margin:
The contribution margin is calculated as the selling price minus the variable cost per unit. Given the information, we have:
Selling price of regular souvenir sheets: $8.00
Selling price of deluxe souvenir sheets: $15.00
Number of regular souvenir sheets sold: 80,000
Number of deluxe souvenir sheets sold: 50,000
To calculate the increase (decrease) in total contribution margin, we need to compare the contribution margin of the two scenarios:
Contribution margin regular souvenir sheets = Selling price - Variable cost
= $8.00 - Variable cost
Contribution margin deluxe souvenir sheets = Selling price - Variable cost
= $15.00 - Variable cost
To find the increase (decrease), we'll subtract the contribution margin of regular souvenir sheets from that of deluxe souvenir sheets:
Increase (decrease) in contribution margin = Contribution margin deluxe - Contribution margin regular
= ($15.00 - Variable cost) - ($8.00 - Variable cost)
= $15.00 - $8.00
= $7.00
So, the postal service experienced an increase in total contribution margin of $7.00 when selling 50,000 deluxe souvenir sheets compared to selling 80,000 regular souvenir sheets.
2. Calculation of the percentage increase in selling price and unit sales:
Percentage increase in selling price = [(Selling price deluxe - Selling price regular) / Selling price regular] * 100
= [(15.00 - 8.00) / 8.00] * 100
= 87.5%
Therefore, the St. Vincent post office increased the selling price for the deluxe souvenir sheet by 87.5% compared to the regular souvenir sheets.
Percentage increase in unit sales = [(Unit sales deluxe - Unit sales regular) / Unit sales regular] * 100
= [(50,000 - 80,000) / 80,000] * 100
= -37.5%
The unit sales for the deluxe souvenir sheets decreased by 37.5% compared to the regular souvenir sheets.
3. Calculation of the selling price for the deluxe souvenir sheet to maintain the same total contribution margin per unit:
To maintain the same total contribution margin per unit, the selling price for the deluxe souvenir sheet should be equal to the selling price for the regular souvenir sheet plus the increase in contribution margin per unit:
Selling price deluxe = Selling price regular + Increase in contribution margin
= $8.00 + $7.00
= $15.00
So, the postal service should set the selling price for the deluxe souvenir sheet at $15.00 to maintain the same total contribution margin per unit.
4. Calculation of the number of deluxe souvenir sheets to be sold to equal the total contribution margin earned from selling 80,000 regular souvenir sheets:
Total contribution margin from selling regular souvenir sheets = Contribution margin regular * Number of regular sheets sold
= ($8.00 - Variable cost) * 80,000
To calculate the number of deluxe souvenir sheets to be sold, we'll set the total contribution margin equal to that of regular sheets and solve for the number of deluxe sheets:
Contribution margin deluxe * Number of deluxe sheets = Contribution margin regular * Number of regular sheets
($15.00 - Variable cost) * Number of deluxe sheets = ($8.00 - Variable cost) * 80,000
Simplifying the equation:
Number of deluxe sheets = (Contribution margin regular * Number of regular sheets) / (Contribution margin deluxe)
= ($8.00 - Variable cost) * 80,000 / ($15.00 - Variable cost)
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Classify the following topics as relating to
microeconomics or macroeconomics.
a. a family’s decision about how much income to save
b. the effect of government regulations on auto emissions
c. the impact of higher national saving on economic growth
d. a firm’s decision about how many workers\to hire e. the relationship between the inflation rate
Answers
Classify the following topics as relating to microeconomics or macroeconomics.
Microeconomics:
A family’s decision about how much income to save.A firm’s decision about how many workers\to hire.Macroeconomics:
The effect of government regulations on auto emissions.The impact of higher national saving on economic growth is a topic The relationship between the inflation rate.According to economics, there are two types of economics: macroeconomics and microeconomics.
Macroeconomics is the study of aggregates like unemployment, growth rate, inflation, populace, and GDP. The International Monetary Fund, or IMF, is also interested in macroeconomics.
As a result, the significance of the microeconomics or macroeconomics are the aforementioned.
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Sheridan Company uses a periodic inventory system. For April, when the company sold 450 units, the following information is available. Units Unit Cost Total Cost April 1 inventory 280 $ 17 $ 4,760 April 15 purchase 420 20 8,400 April 23 purchase 300 22 6,600 1,000 $ 19,760 Calculate weighted average cost per unit.
Answers
Answer:
Closing inventory - $10,160
Costs of goods sold - $9,600
Explanation:
Under the LIFO Method, the cost of good sold equals to
= April 23 units × cost per unit + Remaining units × cost per unit
= 300 units × $22 + 150 units × $20
= $6,600 + $3,000
= $9,600
Since the firm has sold 450 units, so out of which 300 units sold at a price of $22 and the remaining 150 units sold at a price of $20
The ending inventory equals to
= Remaining units × cost per unit + April 1 × cost per unit
= 270 units × $20 + 280 units × $17
= $5,400 + $4,760
= $10,160
Since on April 23, the 420 units were purchase, out of which 150 units are transferred to the cost of good sold and the remaining units 270 units at $20 is transferred to the ending inventory
Faith Bonds sells furniture and earns nine percent commission on her total sales. Last month she had $33,500 in sales. How much did she earn? *
Answers
Answer:
3015
Explanation:
33500*.09=3015
Answer: 2,865
Explanation: To get this answer you would have to divided 33,500 and 9%
Entrepreneurs tend to be more _______ than _______ when it comes to evaluating that status and will quickly adapt as necessary to make improvements.
Question 1 options:
sentimental, objective
uncertain, certain
objective, sentimental
relaxed, motivated
Answers
In case of futures, the counterparty guarantee provided by the exchange.(True/False)
Answers
(True)
Hace a nice day and i hope it helps!!
Which of the following is true of a good benefits plan?
a. It is generally inexpensive to buy and administer.
b. It will stimulate higher performance levels.
c. It will encourage people to join an organization.
d. It will include redundancies in coverage.
e. It allows for smaller pay increases.
Answers
Answer:
C
Explanation:
The following is true of a good benefits plan it will encourage people to join an organization. The correct option is c.
What are the benefits of motivated employees?There are several benefits to having a motivated workforce, including lower absenteeism rates, employee retention rates, low staff turnover rates, improved management-worker relationships, higher worker performance, improved quality, and enhanced customer service.
A good benefits plan is an essential part of an organization's compensation strategy. It can be used to attract and retain talented employees and can be a competitive advantage in the job market. A well-designed benefits plan can also help to improve employee morale, motivation, and job satisfaction. While it may require a significant investment, a good benefits plan can provide a good return on investment for the organization.
Thus, the ideal selection is option c.
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if you have 2 children, ages 2 snd 4, how much should you record in step 3 of form w-2
Answers
Select the correct answer. How does insurance protect a policyholder against financial loss? A. by allowing the policyholder to make premium payments B. by allowing the policyholder to make a claim for reimbursement C. by allowing the policyholder to avoid maintenance costs for the insured items D. by allowing the policyholder to pay for all the losses
Answers
Answer:
by allowing the policyholder to make premium payments
Explanation:
Answer:
B. by allowing the policyholder to make a claim for reimbursement
Explanation:
Took the test on plato 100% right
what can cause money supply to change by less than than the amount
Answers
#dapdap
Money supply is the total amount of money in circulation in an economy. The money supply can change in response to various factors, including changes in the central bank's monetary policy, changes in the banking system, and changes in the demand for money.
One reason why the money supply may change by less than the amount of a given policy change is the existence of leakages in the banking system. For example, if the central bank injects a certain amount of new money into the economy, commercial banks may choose to hold onto some of that money as excess reserves rather than lending it out to customers. This reduces the amount of new money that enters into circulation in the economy and can cause the money supply to change by less than the amount of the injection.
Another reason why the money supply may change by less than the amount of a given policy change is the existence of "money hoarding" behavior. If people and businesses choose to hold onto more cash instead of spending it, this can reduce the velocity of money and cause the money supply to change by less than the amount that has been injected into the economy. Additionally, if interest rates are high, individuals and firms may choose to hold onto more cash as savings, which can reduce the overall money supply in the economy.
In summary, leakages in the banking system and changes in the velocity of money are two factors that can cause the money supply to change by less than the amount of a given policy change.
On June 15, 2021, Allen sold land held for investment to Stan for $65,000 and an installment note of $300,000 payable in five equal annual installments beginning on June 15, 2022, plus interest at 10%. Allen’s basis in the land is $255,500. What amount of gain is recognized in 2021 under the installment method?
Answers
The amount of gain that will be recognized in 2021 under the installment method, is $27, 857 . 14
How to find the gain recognized?First, find the profit margin on the land sold by Allen to Stan:
= ( Selling price of land - Allen's basis in the land) / Allen's basis in the land
= ( ( 300, 000 + 65, 000) - 255, 500) ) / 255, 500
= 109, 500 / 255, 500
= 42. 857 %
The gain to be recognized, using the installment method is:
= Profit margin x Amount paid by Allen in 2021
= 42. 857 % x $ 65, 000
= $27, 857 . 14
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UESTION 1: COMPULSORY The following trial balance was extracted from the ledger acc Trader as at 30 June 2015 may, ION 1 IS REST es 66 Say ASTIN MAKOYE'S TRIAL BALANCE AS AT 30 JUNE 2015 DR K Capital Stock in trade. General expenses. Purchases and sales Car expenses. Motor car... 1 Repairs * Free hold land and Building Bank balance. *Furniture and Fittings. *Discounts 12 Bad debts *3 Rates and Insurance.. 7,300 2,586 56,500 418 10.050 548 11,000 640 2,460 2,061 459 Drawings S Provisions for bad debts- 1 July 2015 16 Trade debtors and Creditors..... Wages and Salaries K 30.500 70,900 348 3,400 914 6,213 9.606 113.589 240 11,035 113.589
Answers
Answer:
I don't understand your question
Explanation:
908 25. द्वितीय लेखाविधि तथा विश्लेषण Nuwakot Consultancy was organized on June 2, 2019, by a group of accountants to provide accounting and tax services to small businesses in Kathmandu. The following transactions occurred during the first month of business. June 2 June 5 June 8 June 15 June 17 June 23 June 28 June 29 Received contributions of Rs. 10,000 from each of the three owners of the business is exchange for shares of stock. Purchased a computer system for Rs. 12,000. The agreement with the vendor requires a down payment of Rs. 2,500 with the balance in 60 days. Signed a two-year promissory note at the bank and received cash of Rs. 20,000. Billed Rs. 12,350 to clients for the first-half of June. Paid a Rs. 900 bill from the local newspaper for advertising for the month of June. Received the amounts billed to clients for services performed during the first half of the month. Received and paid gas, electric, and water bills. The amount is Rs. 2,700. Received the landlord's bill for Rs. 2,200 for rent on the office space that Nano Consultancy leases. The bill is payable by the 10th of the following month. Paid salaries and wages for June. The total amount is Rs. 5,670. Billed Rs. 18,400 to clients for the second half. Declared and paid dividends in the amount of Rs. 6,000. June 30 June 30 June 30 Required: (a) Journal entries on the books of Nuwakot Consultancy. (For the transactions entered into during the month. Ignore depreciation and interest expenses). (b) Post the transactions into T-accounts. (c) A trial balance at June 30, 2019.
Answers
1. The Journal Entries on the books of Nuwakot Consultancy for the June Transactions are as follows:
Journal Entries:Date Transactions Debit Credit
June 2 Cash Rs. 30,000
Common Stock Rs. 30,000
June 5 Computer Rs. 12,000
Cash Rs. 2,500
Accounts Payable Rs. 9,500
June 8 Cash Rs. 20,000
Notes Payable Rs. 20,000
June 15 Accounts Receivable Rs. 12,350
Service Revenue Rs. 12,350
June 17 Advertising Expense Rs. 900
Cash Rs. 900
June 23 Cash Rs. 12,350
Accounts Receivable Rs. 12,350
June 28 Utility Expense Rs. 2,700
Cash Rs. 2,700
June 29 Rent Expense Rs. 2,200
Rent Payable Rs. 2,200
June 30 Salaries &
Wages Expense Rs. 5,670
Cash Rs. 5,670
June 30 Accounts Receivable Rs. 18,400
Service Revenue Rs. 18,400
June 30 Dividends Rs. 6,000
Cash Rs. 6,000
2. The Posting of the transactions into T-accounts is as follows:
Cash AccountDate Transactions Debit Credit
June 2 Common Stock Rs. 30,000
June 5 Computer Rs. 2,500
June 8 Notes Payable Rs. 20,000
June 17 Advertising Expense Rs. 900
June 23 Accounts Receivable Rs. 12,350
June 28 Utility Expense Rs. 2,700
June 30 Salaries and Wages Expense Rs. 5,670
June 30 Dividends Rs. 6,000
June 30 Balance Rs. 44,580
Rs. 62,350 Rs. 62,350
Common StockDate Transactions Debit Credit
June 2 Cash Rs. 30,000
ComputerDate Transactions Debit Credit
June 5 Cash Rs. 2,500
June 5 Accounts Payable Rs. 9,500
June 30 Balance Rs. 12,000
Accounts PayableDate Transactions Debit Credit
June 5 Computer Rs. 9,500
Notes PayableDate Transactions Debit Credit
June 8 Cash Rs. 20,000
Rent PayableDate Transactions Debit Credit
June 29 Rent Expense Rs. 2,200
Accounts ReceivableDate Transactions Debit Credit
June 15 Service Revenue Rs. 12,350
June 23 Cash Rs. 12,350
June 30 Service Revenue Rs. 18,400
Service RevenueDate Transactions Debit Credit
June 15 Accounts Receivable Rs. 12,350
June 30 Accounts Receivable Rs. 18,400
June 30 Balance Rs. 30,750
Advertising ExpenseDate Transactions Debit Credit
June 17 Cash Rs. 900
Utility ExpenseDate Transactions Debit Credit
June 28 Cash Rs. 2,700
Rent ExpenseDate Transactions Debit Credit
June 29 Rent Payable Rs. 2,200
Salaries and Wages ExpenseDate Transactions Debit Credit
June 30 Cash Rs. 5,670
DividendsDate Transactions Debit Credit
June 30 Cash Rs. 6,000
3. The preparation of the trial balance at June 30, 2019, is as follows:
Date Transactions Debit Credit
Cash Rs. 44,580
Common Stock Rs. 30,000
Computer Rs. 12,000
Accounts Payable Rs. 9,500
Notes Payable Rs. 20,000
Rent Payable Rs. 2,200
Accounts Receivable Rs. 18,400
Service Revenue Rs. 30,750
Advertising Expense Rs. 900
Utility Expense Rs. 2,700
Rent Expense Rs. 2,200
Salaries and Wages Expense Rs. 5,670
Dividends Rs. 6,000
Totals Rs. 92,450 Rs. 92,450
What are the journal entries?Journal entries are made to record the transactions of a business as they occur daily.
Journal entries help post transactions to the general ledger (T-accounts).
With a trial balance, the balances in the general ledger are summarized to prepare financial statements.
Transaction Analysis:June 2 Cash Rs. 30,000 Common Stock Rs. 30,000
June 5 Computer Rs. 12,000 Cash Rs. 2,500 Accounts Payable Rs. 9,500
June 8 Cash Rs. 20,000 Notes Payable Rs. 20,000
June 15 Accounts Receivable Rs. 12,350 Service Revenue Rs. 12,350
June 17 Advertising Expense Rs. 900 Cash Rs. 900
June 23 Cash Rs. 12,350 Accounts Receivable Rs. 12,350
June 28 Utilities Expense Rs. 2,700 Cash Rs. 2,700
June 29 Rent Expense Rs. 2,200 Rent Payable Rs. 2,200
June 30 Salaries and Wages Expense Rs. 5,670 Cash Rs. 5,670
June 30 Accounts Receivable Rs. 18,400 Service Revenue Rs. 18,400
June 30 Dividends Rs. 6,000 Cash Rs. 6,000
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10. Ahron Company makes 8,000 units per year of a part it uses in the products it manufactures. The unit product cost of this part is computed as follows: An outside supplier has offered to sell the company all of the units it needs. If the company accepts this offer, the facilities now being used to make the part could be used to make more units of a product that is in high demand. The additional contribution margin on this other product would be $161,600 per year. If the part were purchased from the outside supplier, $7.50 of the fixed manufacturing overhead cost being applied to the part would be eliminated. What is the maximum amount the company should be willing to pay an outside supplier per unit for the part if the supplier commits to supplying all 8,000 units required each year
Answers
Answer:
$62
Explanation:
The computation of the maximum amount that should be willing to pay per unit is as follows:
The Relevant costs for decision making is
= Avoidable Costs + Opportunity Costs
where,
Total Avoidable Cost = Total Units Needed × ( Direct Materials + Direct Labor + Variable Manufacturing Overhead + Avoidable Fixed Manufacturing Overhead )
= 8,000 × ($14.90 + $17.50 + $1.90 + $7.50)
= $334,400.
And, the Total Opportunity Costs of Making is $161,600.
Now
Total Relevant Costs is
= $334,400 + $161,600
= $496,000.
So, the maximum per unit would be
= $496,000 ÷ 8,000
= $62
After Polly Shrum sells a stock, she avoids following it in the media. She is afraid that it may subsequently increase in price. What behavioral characteristic does Shrum have as the basis for her decision making? Please explain your answer.
Answers
After Polly Shrum sells a stock, she avoids following it in the media. She is afraid that it may subsequently increase in price. Shrum has fear of regret. She is hesitant to examine stock prices out of concern that they may have increased and she may have lost out on possible gains.
To prevent the fear of regret, the investor may become less risk-averse in the future and may purchase any stock recommended by the media without completing any background investigation. During lengthy bull markets, regret theory leads some investors to continue to invest aggressively, dismissing warning signals of a coming disaster.
According to regret theory, people anticipate remorse if they make the wrong option and take it into account while making decisions. Fear of regret may either deter or motivate people to act. Regret theory has the potential to influence an investor's rational conduct, diminishing their capacity to make financial decisions that benefit them rather than damage them.
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IKEA is very Sweden-centric; that is, they like doing it the Swedish way, from the names of the furniture to the management of the company. Sweden is a neutral country, so maybe this is the way to go for a global company, but is smart to be too centric to a specific country when you are a global corporation
Answers
Answer:
It can be a smart strategy if the country has a significant amount of soft power (power not on military or economic terms, but on cultural and social terms).
Explanation:
For example, Sweden is a country that enjoys a high level of prestige around the world, because it is a very well developed country, with a very high standard of living, an economic model that many people admire (the Nordic Model), and several cultural exports like Volvo cars, or ABBA, that enjoy popularity around the world.
IKEA, in that sense, is like another Swedish cultural export, and when people go to an IKEA, they go expecting to find something "Swedish", so in this sense, the strategy can clearly pay off because of the soft power that Sweden has.
Specific numbers or times by which individual task can be measured are most likely to be part of which of the following?
A. job evaluation
B. job standard
C. job Description
D. job review
Answers
Answer:
B. job standard
Explanation:
The mass of the eggs laid by a certain breed of hen is normally distributed random variable with mean 0.06kg and standard deviation 0.009kg. if a random sample of 1800 eggs are sold, how many would you expect to have mass
i. less than 0.052kg
ii. between 0.052 and 0.075kg)
III greater than 0.075
Answers
The correct answer by the standard deviation would be as follow:
i. less than 0.052kg - 288 eggs
ii. between 0.052 and 0.075kg) - 1476 eggs
III greater than 0.075 - 36 eggs
Given:
number of the samples, n = 1800 eggs
the mean of the distribution, m = 0.06 kg
standard deviation, d = 0.009 kg
(i) less than 0.052 kg (standard size):
1 standard deviation below the mean = m - d
m - d = 0.06 kg - 0.009 kg = 0.051 kg
(the standard size is 1 standard deviation below the mean)
less than 1 standard deviation below the mean in a normal distribution is = 16% of the given samples
Number of standard size = 0.16 x 1800
= 288 eggs
(ii) Between 0.052 kg and 0.075kg (medium size):
0.052 kg is 1 standard deviation below the mean
2 standard deviations above the mean:
> m + 2d
> m + 2d
> 0.06 + 2(0.009)
= 0.078 kg
Between 1 standard deviation below the mean and 2 standard deviation above the mean in a normal distribution
= (68 + 14)%
= 82%
Number of medium size = 0.82 x 1800
= 1,476 eggs
(iii) Greater than 0.075 kg (large size):
0.078 kg is 2 standard deviations below the mean
greater than 2 standard deviation above the mean in a normal distribution = 2 % of the number of given samples
Number of large size = 0.02 x 1800
= 36 eggs
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