Answer:
Cash $892,500 (debit)
Common Stock $17,500 (credit)
Share Premium $875,000 (credit)
Explanation:
For par value shares, any price paid above the par value on stock issued is accounted for in the Share Premium Reserve.
Note from this question $25 is paid over and above the par value of $0.25, thus it is accounted in share premium reserve.
Journal entries are the entries that are recorded to maintain the daily record of the cash inflow and outflow of the firm. The inflow and outflow is recorded in order to avoid chaos in the accounting of the firm.
The Journal entry to record the above transaction is:
Cash $892,500 (debit)
Common Stock $17,500 (credit)
Share Premium $875,000 (credit)
(Being the entry for the issue of stock has been recorded)
Whatever amount paid far above common shares on stock issued is accounted for in the Owner's Equity Reservation for par value shares.
Because $25 is paid over and above the par value of $0.25 in this question, it is compensated for in the share premium reserve.
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Ethical principles in business A. deal chiefly with the actions and behaviors required to operate companies in a socially and environmentally responsible manner as dictated by government regulations. B. deal chiefly with the rules each company's top management and board of directors make about "what is right" and "what is wrong." C. are not materially different from ethical principles in general. D. are generally less stringent than the ethical principles for society at large. E. are generally more stringent than the ethical principles for society at large.
Answer:
C. are not materially different from ethical principles in general.
Explanation:
Ethical principles in business are not materially different from ethical principles in general. They correspond to the protection of life, human dignity, freedom, human integrity, diversity, justice, etc.
In an organization, compliance with ethical principles is essential for the organization's survival. Through organizational ethics it is possible for the organizational culture to be based on respect for personal individualities, the values of employees, mutual respect regardless of hierarchical position, etc.
An ethical company will have a stronger reputation and positioning in the internal and external environment, positively influencing the entire environment and society in general.
Being less dependent on suppliers and making profits on both parts and the final product are advantages of:_______.
Answer:
vertical intergrations
Jones Distributors had the following revenue-related transaction during December: Collected cash for services provided in November, $24,000 Provided services on account, $49,000, of which Jones collected $28,000 Received $4,000 on December 1 for services to be provided evenly in December and January. According to the revenue recognition principle, how much revenue should Jones record for December?
Answer: $51,000
Explanation:
Jones Distributors following the Revenue recognition principle means that they will only recognize revenue when they have earned it i.e, when they have provided the services for which they were paid to do.
They provided services on account for $49,000 in December
They received $4,000 to provide services evenly in December and January which means that half was done in December so;
= 4,000/2
= $2,000
Total revenue in December = 49,000 + 2,000
= $51,000
Company ABC operates a nail salon that specializes in artificial nails. It has two primary __________, women who get their nails done infrequently (i.e., once or twice per year), and women who continuously wear fake nails
Answer:
Explanation:
Company ABC operates a nail salon that specializes in artificial nails. It has two primary clients, women who get their nails done infrequently (i.e., once or twice per year), and women who continuously wear fake nails
A Registered Investment Adviser (RIA) is formed as a partnership. The RIA intends to charge an incentive fee that is based on investment performance. Under NASAA rules, the RIA:
Answer:
Explanation:
NASSA rules are set of laws enacted to guide the administration of business and trading activities. Some of the NASAA are protection of vulnerable adults from financial exploitation and guides against unethical practices by investment advisers.
NASSA rules does not forbid RIA from charging an incentive fee based on investment performance, however , it must be able to prove that the fee charged is fair , reasonable and affordable by the customer , in as much as the customer is not being financially exploited.
Answer:
k
Explanation:
f the short-run aggregate supply curve is horizontal and the long-run aggregate supply curve is vertical, then a change in the money supply will change ______ in the short run and change ______ in the long run.
Answer:
1. only output.
2. only prices
Explanation:
Aggregate supply curve is a graphical representation of supply indices of a firm which shows the total quantity of output, that is real GDP that firms will produce and sell at given price level.
Hence, given that the short-run aggregate supply curve is horizontal and the long-run aggregate supply curve is vertical, then a change in the money supply will change ONLY OUTPUT in the short run and change ONLY PRICES in the long run.
Deanna manages a large department store, and as a result, she has the capacity to give the store's employees written warnings, reduce their work hours, or fire them if they do not perform adequately. This is an example of her __ power.
Answer:
B) Coercive power
Explanation:
Coercive power refer to a power in which the organization forces the employees to do the work as per the given guidelines or instructions and if this things are not happened so they punish the employees if this is not be done. It can be in terms of firing, written warnings, etc
Therefore the given situation represents the coercive power example and the same is to be considered
At Finafax Inc., employees share information freely, irrespective of their departments and areas of functionality. They use coordination to maintain ongoing positive relationships and for effective problem solving rather than solely for formal communication. Given this information, it can be concluded that Finafax Inc. most likely focuses on _____.
Answer:
relational coordination
Explanation:
Based on this description it seems that Finafax Inc. most likely focuses on relational coordination or RC for short. This term refers to a mutually reinforcing process of communicating and relating for the purpose of task integration. In other words, they focus on communicating and building work relationships in order to integrate tasks and increase efficiency in their workplace.
The labor demand curve shows how many workers the firm is willing to hire Group of answer choices at any given wage. into high-skill jobs. at a particular amount of labor supplied. when demand for the firm's output is low. at any particular time.
Answer:
at any given wage
Explanation:
The labour demand curve shows the number of workers that a firm is willing to hire at a given wage rate. The higher the wage, the lower the quantity of labour demanded and the lower the wage, the higher the number of workers hired. For this reason, the labour demand curve is downward sloping
Please check the attached image for a graph showing the labour demand curve
AT Oils, a gas station, retails 30,000 gallons of petrol per year. Its ordering costs are $20 per order and holding costs are $40 per gallon. According to the economic order quantity (EOQ) model, approximately how often should the company place a fresh order for petrol
Answer:
The company should place an order every 2 days
Explanation:
The EOQ or economic order quantity is the quantity which minimizes the inventory related costs. The EOQ is calculated as follows,
EOQ = √(2 * D * O) / H
Where,
D is the annual demandO is the ordering cost per orderH is the holding cost per unit per yearEOQ = √(2 * 30000 * 20) / 40
EOQ = 173.2050808 gallons rounded off to 174 gallons
If the company orders using the EOQ, then at an annual demand of 30000 gallons, the number of times that company should order the EOQ is,
Number of orders = 30000 / 174 = 172.4137931 or 173 orders per year
If the company needs to order 173 times per year, the company should place an order every x number of days.
x = 365 / 173
x = 2.10982659 days rounded off to 2.11 days or every 2 days
Ms. Muffy Vanderbilt is an entrepreneurial socialite who has successfully worked as a fund raiser for a not-for-profit organization for the past 10 years. Because of her success at raising money and her extensive list of social contacts, she is recruited by an investment advisory firm to become a representative. Ms. Vanderbilt would be permitted to:
Complete Question:
Ms. Muffy Vanderbilt is an entrepreneurial socialite who has successfully worked as a fund raiser for a not-for-profit organization for the past 10 years. Because of her success at raising money and her extensive list of social contacts, she is recruited by an investment advisory firm to become a representative. Ms. Vanderbilt would be permitted to:
I. state to customers that she has 10 years of experience in the industry.
II. use the title "investment adviser representative" on her business card.
III. state to customers that she is registered as a representative with the SEC.
Group of answer choices
A. I only
B. II only
C. II and III
D. I, II, III
Answer:
B. II only
Explanation:
In this scenario, Ms. Muffy Vanderbilt is an entrepreneurial socialite who has successfully worked as a fund raiser for a not-for-profit organization for the past 10 years. Consequently, she was recruited by an investment advisory firm to become a representative as a result of her expertise and success at raising money, as well as her extensive list of social contacts.
Hence, Ms. Vanderbilt would be permitted to use the title "investment adviser representative" on her business card but she is prohibited from;
1. stating to customers that she has 10 years of experience in the industry because she worked for a not-for-profit organization.
2. stating to customers that she is registered as a representative with the Securities and Exchange Commission (SEC) because only the investment adviser is required to register with SEC.
She can only register at the state where she's representing the investment adviser.
Hence, points I and III would be considered a misrepresentation if used by Ms. Muffy Vanderbilt.
When McDonald's and other fast food restaurants offer "value menu" items at surprisingly low prices, they are most likely using ________ pricing.
Answer:
Good value, is the right answer.
Explanation:
The given blank will be filled by “good value” because when a restaurant charges or offer a value menu it means that it is just making a minimum profit in order to attract the customers. However, charging a lower price which makes minimum profit results in the good value pricing process. Additionally, good value pricing is a technique to increase their sales.
In a restaurant or fast food service meal menu is planned in such a way that seems to have less costly items as contrasted to other products of the place.
The correct answer for the blank is:
Good value
By creating these types of menus the eateries and the service place makes a minimum profit.Due to less pricey items, the shoppers are tempted and a large number of customers order from those value menus.So, it is a system by which the establishment earn the smallest profit and a safe value by placing value menus.Therefore, value menus are good value.
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A ___________ is established when an individual confers legal title to property to another person or institution to manage the property for one or more beneficiaries.
Answer:
personal trust
Explanation:
Key information providing helpful during an allergic reaction related to product usage can be found on the:
Answer:
"MSDS" seems to be the correct one.
Explanation:
An MSDS seems to be a printed text detailing the chemicals management as well as continuing to work details and techniques. A protection summary table and perhaps a substance safety data sheet may also be widely recognized as those of the paper. The MSDS font is regarded to have been an earlier generation of the product description.Punitive damages are: Group of answer choices money damages awarded to punish the defendant for gross and wanton negligence and to deter future wrongdoing. money damages whose amount the parties designate during the formation of a contract for the injured party to collect as recompense upon a specific breach. money damages to recompense for economic losses, or losses stemming from injuries. very small damages awarded to show that the loss suffered was technical rather than actual. pre-established damages for cases where calculating a correct sum is deemed difficult.
Answer:
money damages awarded to punish the defendant for gross and wanton negligence and to deter future wrongdoing.
Explanation:
Punitive damages are money damages awarded to punish the defendant for gross and wanton negligence and to deter future wrongdoing.
In litigations, the amount of money awarded by a court of competent jurisdiction to punish a defendant for a crime committed or such wrongdoings (gross and wanton negligence) and by extension serves as a deterrence to others is known as a punitive damage.
Answer:
money damages awarded to punish the defendant for gross and wanton negligence and to deter future wrongdoing.Explanation:
An investor just purchased a rectangular 2-acre retail lot for $250 a frontage foot. If she paid $100,000 total, what was the depth of the lot
Answer:
The lot depth is 217.8
Explanation:
The total amount paid = $100000
The price of a lot = $250
Total frontage feet = 100000 / 250 = 400 frontage feet.
Now, we know that 1 acre = 43560 square feet
Therefore, 2 acres = 87120 square feet
Now, divide the 87120 with 400 to find the depth of the lot.
The lot depth = 87120 / 400 = 217.8
When rent is paid in advance for 2 years, it is appropriately recorded as a(n) Blank 1 of 2, whereas when rent is paid and used during one month, it is appropriately recorded as a(n)
Answer:
Asset; expense.
Explanation:
When rent is paid in advance for 2 years, it is appropriately recorded as an asset because it adds value, whereas when rent is paid and used during one month, it is appropriately recorded as an expense because it has been spent.
An asset can be defined as an resources owned and controlled by an individual or organization, which is capable of providing future economic benefits or has the potential to produce positive economic value. Assets can be used to generate revenue in the future or even in its present state depending on the choice of the owner.
On the other hand, an expense is a term used to describe money spent or cost incurred by an individual or organization.
"The Bank of England is concerned that the British Pound is weakening against the U.S. Dollar. A method for the Bank of England to strengthen its currency would be to:"
Complete/Correct Question:
The Bank of England is concerned that the British Pound is weakening against the U.S. Dollar. A method for the Bank of England to strengthen its currency would be to:
A. raise British interest rate levels
B. lower British interest rate levels
C. raise U.S. interest rate levels
D. lower U.S. interest rate levels
Answer:
A, raise British interest rate levels
Explanation:
Increasing the interest rate levels of the British will help strengthen the pound against the Dollar. This would mean that the United States is offering lower interest rate.
This is possible because a higher interest rate means that lenders will make higher returns compared to countries with lower interest rates.
Cheers.
Japanese automakers have realized that _____ can be a source of competitive advantage, and, as a result, Japanese firms bargain directly with local labor unions to incorporate this into the work practice before agreeing to operations.
Answer: how work is being organized
Explanation:
Japanese automakers have realized that how work.is being organized can be a source of competitive advantage, and, as a result, Japanese firms bargain directly with local labor unions to incorporate this into the work practice before agreeing to operations.
The way companies organize their work has a role to play in making them standout when compared to their rivals.
In collecting data for nonresidential property analysis, it is helpful to understand the business community that currently exists in the specific area in question. A preliminary approach for ascertaining the number of firms by size, industry, and location is to obtain data from
Answer:
U.S. Bureau of the Census: County Business Pattern
Explanation:
The U.S Bureau of census refers to the department of the federal government i.e held to count the overall population of the country with respect to the size, location, type of industry, sex, age, and other information
Therefore in the given situation, while collecting the data for non-residential, The U.S Bureau of Census of the business pattern is needed so that the data could be obtained
The gross domestic product (GDP) of a country was $112 billion in 2001. If the GDP grows at a constant rate of 4.3% per year, in what year will the GDP be greater than $200 billion
Answer:
The GDP will grow above or will be greater the $200 billion amount during the 14th year from 2001 which will be 2015.
Explanation:
To calculate the GDP in a particular year after 2001, we know the equation will be,
GDP = 112 * (1+0.043)^t
Where,
t is the time in yearsIf we want to calculate the year in which GDP will be greater than 200 billion, we need to substitute the GDP part in the equation with amount of say 200 billion.
200 = 112 * (1+0.043)^t
200 / 112 = (1.043)^t
1.785714286 = (1.043)^t
Taking log on both sides and dividing the equation for t.
log(1.785714286) / log(1.043) = t
t = 13.772 years rounded off to 14 years
So, the GDP will grow above or will be greater the $200 billion amount during the 14th year from 2001 which will be 2015.
If the marginal damage caused by a certain type of pollution is $100 billion and the marginal cost of abatement is $180 billion, then:
Options :
A) society would be better off with zero pollution.
B) society would be better off if emissions were increased.
C) command and control policies should always be used.
D) Society would be better off if emissions were reduced
Answer:
Explanation: The marginal damage resulting from an emission refers to the extra damage resulting from the extra unit of emission released. Whereby the marginal cost of abatement refers to the cost incurred in reducing one extra unit of pollution. Taking a look at the cost of marginal damage incurred, which is $100billion and the marginal cost of abatement which is $180 billion. From an economic standpoint, aive the abatement cost considerably outweighs the marginal damage, it spending $180 billion to cover for a loss of $ 100 billion seems unreasonable. Therefore the society will be better off if emissions were increased.
o
What is not a key to building a sustainable business or dream?
O Monitoring the process
O Breaking the goal into manageable pieces
ODoing everything on your own
O Establishing a goal
The cost system best suited to industries that manufacture a large number of identical units of commodities on a continuous basis is
Answer:
Process Costing
Explanation:
Process Costing allows so many units to be in production at the same time which are identical. The cost of each unit can be determined by calculating the average price using to total units produced.
When the demand for automobiles is high, the demand for workers who build automobiles is high. This relation between the market for automobiles and the market for the labor that builds automobiles is why demand in a factor market is called:_________
Answer:
Derived demand
Explanation:
Derived demand is the demand for a factor of production or an intermediate good used in the production of the final good.
If automobiles were not being produced, there would be no demand for labour. so, the demand for labour is dependent on the automobiles being produced. this is an example of derived demand.
A ________ is a performance appraisal method that provides feedback from a panel that typically includes superiors, peers, and subordinates.
Answer:
360-degree feedback system
Explanation:
360-degree feedback system is a process through which feedback from an employee's subordinates, colleagues, and supervisor(s), as well as a self-evaluation by the employee themselves is gathered.
A special assessment creates a voluntary tax lien if:_______
a. all taxpayers in a taxing district have voted for it.
b. the affected property owners have requested the improvement.
c. a taxing entity initiates the assessment.
d. the improvement to be funded is for the general good.
Answer: the affected property owners have requested the improvement
Explanation:
A voluntary lien is simply a claim that an individual has over another individual's property as security which will be used for debt payment. It should be noted that liens are not attached to the person but the property.
A special assessment creates a voluntary tax lien if the affected property owners have requested the improvement.
When the individual labor supply curve is positively sloped, the _____ effect dominates and higher wages lead to _____ hours worked.
Answer: substitution; more
Explanation:
When the individual labor supply curve is positively sloped, the substitution effect dominates and higher wages lead to more hours worked.
Labor supply has to do with the hours that workers will like to work at a particular wage rate. A higher wage will typically make workers want to spend more hours to work and therefore the substitution effect simply meams that the labour supply curve will be positively sloped.
Like the CISSP, the SSCP certification is more applicable to the security__________ than to the security __________.
A) technician, manager
B) manager, engineer
C) manager, technician
D) technician, executive
Like the CISSP, the SSCP certification is more applicable to the security manager than to the security technician. Thus, option C is correct.
What is the role of security manager?Security managers are responsible for managing all aspects of a company's asset protection, including employee and customer safety, inventory loss prevention, and theft prevention. These experts create and implement security standards and make sure that all employees of the organization abide by them.
As a security manager, you can be in charge of employing security personnel and managing a budget for security activities. Security managers may work in government agencies, privately owned companies, corporations, or retail establishments. Typically, experience and reputation within an organization allow security professionals to advance to the position of security manager. One day, a security manager may decide to start their own security business. In most cases, a high school diploma or GED is a minimum requirement.
Therefore, we can conclude that option C is correct.
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__ describes competition between states and localities, where cutting social services lowers taxes, thereby attracting new businesses and the middle-class.
Answer:
race to the bottom