Yes, critical audit matters should be communicated in the critical audit matters section, which immediately follows the Basis for Opinion section.
In the given question for an auditor of an issuer, critical audit matters should be communicated in the critical audit matters section and we have to find which Immediately follows the Basis for Opinion section.
Yes, that is correct. The critical audit matters section of an auditor’s report typically immediately follows the Basis for Opinion section. The critical audit matters section contains the auditor’s communication of any matters that the auditor believes are of most significance to those who use the financial statements.
To learn more about auditors link is here:
brainly.com/question/28457117
#SPJ4
efine the income summary account. multiple choice question. it is a temporary account used during the closing process to summarize revenues and expenses. it is a permanent account used during the closing process to summarize revenues and expenses. it is a temporary account used during the adjusting process to summarize assets and liabilities.
An income summary account is an account that is used to record all the temporary accounts when a business makes a closing statement at the end of every accounting period. So the correct answer to the question above is the statement " it is a temporary account used during the closing process to summarize revenues and expenses."
The closing process in accounting is a process of resetting the balance of temporary accounts and permanent accounts. There are four steps to making a closing statement in accounting:First, you should close revenue accountsthe, you should close the expense accountthe close income summaryand last close dividendsLearn more about the closing process in accounting at: https://brainly.com/question/25018329
#SPJ4
true/false. worthington capital wants to invest in british companies with the best esg scores. based on the results of this eqs screening done on 24 july 2022, which two companies intially seem to be the most promising investment candidates, worthy of deepr exploration
Reckitt Benckiser and Diageo PLC seem to be the most promising investment candidates because a high ESG disclosure score is better than Amcor and Lloyds. This statement is true.
The ESG Disclosure Score is a percentage that compares your overall degree of disclosure to quantitative ESG data points that are taken from international standards and are thought to be the most pertinent for your sector.
ESG (Environmental, Social, and Governance) aspects are gradually being taken into account by investors during the engagement and decision-making phases. The ESG Disclosure Score is a percentage that compares your overall degree of disclosure to quantitative ESG data points that are taken from international standards and are thought to be the most pertinent for your sector.
Therefore, the given statement is true.
Learn more about ESG disclosure here:
https://brainly.com/question/30656375
#SPJ12
determining cash disbursements (lo 4-5) serven corporation has estimated its accrual-basis revenue and expenses for june 20x1 and would like your help in estimating cash disbursements. selected data from these estimated amounts are as follows:
The accrual foundation of accounting recognizes revenues and prices when the goods and services are delivered regardless of the timing for the trade of cash. The 12 months quit closing procedure is used to convert the books from a money to accrual basis.
Does the accrual groundwork of accounting replicate the principle that income is recorded when it is earned not when cash?Accrual foundation accounting acknowledges business income and matching fees when they are generated—not when cash honestly modifications hands. This ability companies document income when it is earned, not when the employer collects the money.
The income attention precept the use of accrual accounting requires that revenues are identified when realized and earned–not when money is received.
Learn more about accrual-basis here:
https://brainly.com/question/1214642#SPJ4T/F many u.s. companies have taken advantage of mexico's low labor costs and proximity to the united states to set up maquiladoras.
The statement '' many U.S companies took advantage of Mexico's low labor costs and proximity to the United States to establish maquiladoras '' is true because the average company can save nearly a million dollars a year in labor costs.
American companies are becoming more competitive in the world market by combining American high technology with lower labor and material costs in Mexico. The Mexican government created the maquiladora program in 1960 in response to increased unemployment after the end of the Bracero program.
,
Maquiladoras are located on the US-Mexico border to improve supply chain management. Geographical proximity reduces transportation costs and the time needed to transport materials and goods. Factories are heavily concentrated in the US-Mexico border states .
To know more about low labor visit :
https://brainly.com/question/14785054
#SPJ4
countries with a(n) orientation see the notion of individual ownership of an idea as intrinsically legitimate, whereas countries with a(n) orientation extol the virtue of sharing versus individual ownership and hence see little reason to respect the notion of individual ownership.
Countries with a collectivist orientation extol the virtues of sharing over individual ownership and therefore see little reason to respect the concept of individual ownership, whereas countries with an individualist orientation .
What is the name of individual ownership?One of the simplest forms of real estate ownership is sole ownership. When a person is the sole owner of a property, they can sell, lease, or give the property to another person without needing permission, as the name suggests. A non-incorporated business is an individual enterprise. This includes freelancers, consultants, and independent contractors. A Social Security number from the United States is required to register as an individual business. "Solopreneurs" are sometimes used to refer to personal businesses. Countries with a collectivist orientation extol the virtues of sharing over individual ownership and therefore see little reason to respect the concept of individual ownership, whereas countries with an individualist orientation view the idea of individual ownership of an idea as intrinsically legitimate.
To learn more about ownership visit :
https://brainly.com/question/14480423
#SPJ4
which of the following is a descriptive analytic technique that would be most useful in identifying transactions recorded shortly after the balance sheet date?
Option (d), Sorting is a descriptive analytical method that would be most beneficial for identifying transactions reported soon after the balance sheet date.
What is included in the descriptive analytical approach?The goal of descriptive analytics is to find patterns and relationships using both recent and historical data. It is sometimes described as the most fundamental form of data analysis because it just describes trends and relationships without going any further.
What benefits may descriptive analytics provide?Descriptive analytics is used to provide business measurements, reports, and KPIs (Key Performance Indicators), allowing firms to track their performance and spot new trends.
When descriptive statistics are used to illustrate study results, what does that mean?With the aid of descriptive statistics, we can sensibly simplify vast amounts of data. Each descriptive statistic reduces a lot of data to a more succinct description. As an example, let's look at the batting average, a simple number used to indicate how well a batter is doing in baseball.
Learn more about descriptive analytical method: https://brainly.com/question/20913676
#SPJ4
The complete question is:
Which of the following is a descriptive analytic technique that would be most useful in identifying transactions recorded shortly after the balance sheet date?
A. Calculating summary statistics.
B. Time-period sampling.
C. Record counting.
D. Sorting.
Suppose the demand curve for desktop computers shifts rightward and at the same time the supply curve shifts leftward. Which of of the following could have caused these shifts?
a. The price of a laptop computer, a substitute for desktop computers, fell and the cost of producing desktop computer decreased.
b. Consumers purchased more computers because of the xmas season and the labor costs of producing desktop computers decreased.
c. Desktop computers are a normal good and incomes increased, while more firms entered the market.
d. Desktop computers are a normal good and incomes decreased, while the labor costs of producing personal computers increased.
e. Desktop computers are a normal good and incomes increased, while the labor costs of producing personal computers increased.
E) While salaries climbed and desktop computers became a common item, labor expenses to make personal computers also increased.
Describe the demand curve.The demand curve is a line graph used in economics that depicts the number of units that will be purchased at various pricing of a good or service. The amount is represented on the horizontal (X) axis, while the price is plotted along the vertical (Y) axis.
The law of demand, which stipulates that the quantity required will decrease as the price increases, is followed by demand curves, which are used to determine the relationship between price and quantity. Demand and supply curves are frequently mixed in order to estimate the market's equilibrium price and quantity.
Learn more about the demand curve with the help of the given link:
brainly.com/question/30550686
#SPJ4
3-a. Prepare Wells Technical Institute's income statement for the year 2017 3-b. Prepare Wells Technical Institute's statement of owner's equity for the year 2017 3-c. Prepare Wells Technical Institute's balance sheet as of December 31, 2017 Answer is not complete. Complete this question by entering your answers in the tabs below Req 3A Req 3B Req 3C Prepare Wells Technical Institute's income statement for the year 2017 WELLS TECHNICAL IN STITUTE Income Statement For Year Ended December 31, 2017 Revenues Tuition fees earned 120,552 Training fees earned 45,302 Total revenues $ 165,854 13,871 6,936 7,704 51,815 25,716 7,498 5,998 3,488 Depreciation expense-Equipment Depreciation Teaching supplies expense Salaries expense Rent expense Utilities expense 123,008 $42,848 Total expenses Net income Req 3A Req 3B >
An income statement's objective is to demonstrate whether a business made a profit or a loss during the reporting period.
What is an income statement?A company's revenue and expenses for a given period of time, usually a month, quarter, or year, are reported in an income statement, also known as a profit and loss statement.
Req 3A
WELLS TECHNICAL INSTITUTE
Income Statement
For Year Ended December 31, 2017
Revenues:
Tuition fees earned $120,552
Training fees earned $45,302
Total revenues $165,854
Expenses:
Depreciation expense – Equipment $13,871
Depreciation expense – Teaching supplies $6,936
Salaries expense $7,704
Rent expense $51,815
Utilities expense $25,716
Total expenses $105,042
Net income $60,812
Req 3B
WELLS TECHNICAL INSTITUTE
Statement of Owner's Equity
For Year Ended December 31, 2017
Capital, January 1, 2017 $224,356
Add: Net income for the year $60,812
Less: Withdrawals during the year $25,000
Capital, December 31, 2017 $260,168
Req 3C
WELLS TECHNICAL INSTITUTE
Balance Sheet
As of December 31, 2017
Assets:
Cash $58,988
Accounts receivable $11,880
Prepaid rent $7,498
Teaching supplies $13,805
Equipment $309,524
Less: Accumulated depreciation $42,848
Total assets $359,847
Liabilities:
Accounts payable $15,475
Salaries payable $7,498
Unearned tuition fees $15,575
Total liabilities $38,548
Owner's equity:
Capital $260,168
Therefore, total liabilities and owner's equity $359,847.
Learn more about income statement here:
https://brainly.com/question/28035395
#SPJ1
assume that in recent years the cost of producing microbrew beer in the u.s. has decreased largely due to technological improvements. at the same time, more and more americans prefer microbrew beer over wine. which of the following best explains the effect of these events in the microbrew beer market?
Demand and supply have both increased. Consequently, the equilibrium Q has increased, but the equilibrium P is uncertain.
Option B is correct.
Both the demand and the supply of microbrew beer have increased as a result of technological advancements, which have reduced the cost of production and increased American preference for microbrew beer over wine. The equilibrium quantity will rise as a result of an increase in demand and supply, but the equilibrium price cannot be determined.
What are supply and demand?In economics, demand is the capacity and willingness of consumers to purchase a specified quantity of a product or service at a specified cost. The willingness is the supply. of sellers offering a specified quantity of a product or service at a specified cost. An economic model of market price determination is supply and demand. It assumes that, given all other factors being equal, the unit price of a particular good,
Incomplete question :
Assume that in recent years the cost of producing microbrew beer in the u.s. has decreased largely due to technological improvements. at the same time, more and more americans prefer microbrew beer over wine. which of the following best explains the effect of these events in the microbrew beer market?
A) Supply has decreased, while demand has increased. As a result, there has been an increase in the equilibrium P, but the equilibrium Q is indeterminate
B) Both supply and demand have increased. As a result, there has been an increase in the equilibrium Q, but the equilibrium P is indeterminate.
C) Both supply and demand have decreased. As a result, there has been a decrease in the equilibrium Q, but the equilibrium P is indeterminate.
D) Supply has increased, while demand has decreased. As a result, there has been a decrease in the equilibrium P, but the equilibrium Q is indeterminate
Learn more about Supply and demand :
brainly.com/question/30237240
#SPJ1
In incremental analysis, ___multiple select question1) costs are not relevant if they change between alternatives. 2) all costs are relevant if they change between alternatives. 3) only fixed costs are relevant. 4) only variable costs are relevant
In incremental analysis, the following statements are true:
Costs are not relevant if they do not change between alternatives.Only costs that change between alternatives are relevant.Both fixed and variable costs can be relevant, depending on whether they change between alternatives.Therefore, options 1, 2, and 4 are incorrect, and option 3 is partially correct. Fixed costs can be relevant if they change between alternatives, but not all fixed costs are relevant in incremental analysis. Incremental analysis involves comparing the costs and benefits of two or more alternatives to determine which option is the most financially viable. Only the incremental costs and benefits of each alternative are considered, which are the costs and benefits that differ between the alternatives. This approach allows decision-makers to focus on the relevant costs and benefits and avoid including irrelevant information that could cloud their judgment.
For more such questions on expert analysis
https://brainly.com/question/13171394
#SPJ4
You are ready to retire. A glance at your 401(k) statement indicates that you have $750,000. If the the funds remain in the an account earning 9.0%, how much could you withdraw at the beginning of each year for the next 25 years?A) $70,050B) $35,830C) $55,620D) $2,500
You may utilize the notion of a financial annuity to compute the annual withdrawal amount. A financial annuity is a series of equal payments delivered at regular intervals over.
a certain period of time. In this scenario, you must calculate the equal yearly payment that may be paid from a $750,000 amount over a 25-year period at a 9.0% annual interest rate. The withdrawal amount may be calculated using the annuity present value formula. The formula is as follows: PV = P / [(1 - (1 + r)-n) where: PV is the annuity's present value (in this example, $750,000). P denotes the yearly payout. r represents the yearly interest rate (9.0%). n denotes the annuity's number of years (25) Calculating P: P = PV * (r / (1 - (1 + r)^-n)) P = $750,000 * (0.09 / (1 - (1 + 0.09)^-25)) P = $750,000 * (0.09 / 0.4665) P = $145,442.72 As a result, the yearly withdrawal amount for the following 25 years is roughly $145,442.72. None of the answer choices quite equal this number, although option C) $55,620 comes the closest. This is, however, much less than the right figure, and taking only $55,620 each year will deplete the balance far sooner than the allotted 25 years. As a result, none of the response options are accurate, and the right answer is not given.
learn more about withdrawal here:
https://brainly.com/question/14897059
#SPJ4
A trial balance is a listing of A. the chart of accounts. B. the totals from the journal pages. C. transactions in a journal. D. general ledger accounts and balances.
The correct answer is (D) general ledger accounts and balances. Businesses utilize a trial balance, a collection of credit and debit entries, to internally evaluate their double-entry accounting systems.
What does a trial balance list?Businesses utilize a trial balance, a collection of credit and debit entries, to internally evaluate their double-entry accounting systems. Verifying that the total of all debits and credits equals one another is the objective.
Why is it called a trial balance?To check that entries in a company's bookkeeping system are mathematically sound, a trial balance is generally produced. A trial balance serves as a test of a fundamental component of a group of books, hence the name.
To know more about trial balance visit :-
https://brainly.com/question/13186909
#SPJ1
When cyclical unemployment is equal to zero, we know that:
A. The actual unemployment rate is equal to the natural rate of unemployment.
B. Frictional and structural unemployment are also equal to zero.
C. The actual unemployment rate is greater than the natural rate of unemployment.
D. Frictional unemployment is less than zero while structural unemployment is greater than zero.
When cyclical unemployment is equal to zero, the unemployment fee becomes equal to the herbal charge of unemployment.
Is cyclical unemployment equal to herbal unemployment?The motion of labor in and out of employment, whether or not it is voluntary or not, represents natural unemployment. Any unemployment now not regarded to be natural is often referred to as cyclical, institutional, or policy-based unemployment.
Cyclical Unemployment: actual rate of unemployment - herbal fee of unemployment = u - u*. The cyclical fee of unemployment is the unemployment created by way of recessions and booms. During recessions, u - u* > 0; for the duration of booms, u - u* < 0 Actual Unemployment Rate: natural fee + cyclical price = u = u* + (u - u*).
Learn more about cyclical unemployment here:
https://brainly.com/question/13789532#SPJ4Suppose that the total expenditures for a typical household in 2018 equaled $2,500 per month, while the cost of purchasing exactly the same items in 2020 was $3,000. if 2018 is the base year, the cpi for 2018 equalsa. 0.83b. 1.00c. 1.20d. 1.25
Note that the CPI for 2018 is 1.20 (Option C)
What is CPI?CPI stands for Consumer Price Index, which is a measure of the average change over time in the prices of a basket of goods and services that households purchase. CPI is used as an economic indicator to measure inflation or deflation, and it is calculated by tracking
Since 2018 is the base year, the CPI for 2018 is 100. We can calculate the CPI for 2020 as follows:
CPI for 2020 = (Cost of the market basket in 2020 / Cost of the market basket in 2018) x 100
The cost of the market basket in 2018 is $2,500 per month, which is also the base year expenditure. The cost of the market basket in 2020 is $3,000 per month. Substituting the values, we get:
CPI for 2020 = ($3,000 / $2,500) x 100 = 120
Therefore, the CPI for 2018 is 100, and the answer is (c) 1.20.
Learn more about CPI:
https://brainly.com/question/17329174
#SPJ1
1. As Thanksgiving approaches, Martha sees many advertisements encouraging her to donate her time or money to help serve Thanksgiving dinner to the poor families in her community.A. If Martha donates $20, is she acting in her own self-interest? Explain your answer. (5 points)B. True or False: If Martha donates two hours on Thanksgiving day to help serve food at the local community center, but doesn't donate any money, it doesn't cost her anything to help the poor families in her community. Explain your answer. (5 points)
A. It depends on Martha's motivations for donating the $20.
If she donates because she genuinely cares about helping the less fortunate and wants to make a positive impact on her community, then she is not necessarily acting solely in her own self-interest. However, if she donates simply to feel good about herself or to gain recognition or praise from others, then her donation could be seen as self-interested.
B. False. While it may not cost Martha any money to volunteer her time, it still represents a cost in terms of her time and effort. By choosing to volunteer, she is giving up the opportunity to spend her time and effort on other activities. Additionally, volunteering can also have other costs, such as transportation expenses or the cost of taking time off from work. However, many people find that the benefits of volunteering, such as the satisfaction of helping others and the opportunity to connect with their community, outweigh the costs.
For more such questions on advertisement
https://brainly.com/question/1658517
#SPJ4
A spreadsheet model of a break-even analysis calculates Total Variable Cost as. The product of marginal costs and production quantity.
Yes, you are accurate. Total Variable Cost (TVC) is determined in a break-even analysis as the product of marginal expenses and output quantity. The variable costs involved with generating one more.
unit of output, such as direct materials, direct labor, and variable overhead expenses, are referred to as marginal costs. The TVC is calculated by multiplying the marginal cost per unit by the number of units produced. This is the overall cost of manufacturing that number of units, assuming that all expenses are variable and no fixed costs exist. By comparing the TVC to the Total Revenue (TR) generated by the same number of units, the break-even point can be determined, which is the point at which the corporation is neither profitable nor losing money.
learn more about cost here:
https://brainly.com/question/30045916
#SPJ4
Bond X is a premium bond making semiannual payments. The bond pays a coupon rate of 6.8 percent, has a YTM of 6.2 percent, and has 13 years to maturity. Bond Y is a discount bond making semiannual payments. This bond pays a coupon rate of 6.2 percent, has a YTM of 6.8 percent, and also has 13 years to maturity. The bonds have a par value of $1,000. What is the price of each bond today? If interest rates remain unchanged, what do you expect the price of these bonds to be one year from now? In three years? In eight years? In 12 years? In 13 years? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Price of bond Bond X Bond Y Today _____ _____
One year _____ _____
Three years _____ _____
Eight years _____ _____
12 years _____ _____
13 years _____ _____
Prices οf Bοnd X and Bοnd Y in 13 years (at maturity): Bοnd X: $1,552.70, Bοnd Y: $600.00 (its price at maturity will be equal tο its face value)
Hοw dο bοnds wοrk?A bοnd is a type οf security that is used by businesses οr gοvernments tο bοrrοw mοney frοm investοrs. Bοnds are anοther name fοr fixed incοme securities. An investοr lends mοney tο a bοrrοwer, like a business οr the gοvernment. In essence, gοvernments and businesses issue bοnds when they need tο raise mοney. They frequently bοrrοw mοney using bοnds.
Evaluating:
Tο calculate the price οf each bοnd tοday, we can use the bοnd pricing fοrmula:
Price οf bοnd = (Cοupοn payment / (1 + YTM/2)ₜ) + (Cοupοn payment / [tex](1 + YTM/2)^{(t+1)})[/tex] + ... + (Cοupοn payment + Face value / [tex](1 + YTM/2)^{(n\cdot 2)})[/tex]
Where,
(Cοupοn rate × Face value) / 2 represents the cοupοn payment.
YTM = Yield tο maturity
t = Number οf semiannual periοds until the next cοupοn payment
n = Number οf semiannual periοds until maturity
Fοr Bοnd X:
Cοupοn payment = (6.8% × $1,000) / 2
= $34
YTM = 6.2% / 2 = 3.1%
t = 1 (since it makes semiannual payments)
n = 13× 2
= 26
Price οf Bοnd X tοday = ($34 / (1 + 0.031)¹) + ($34 / (1 + 0.031)²) + ... + ($34 / (1 + 0.031)²⁶) + ($1,000 / (1 + 0.031)²⁶)
= $1,137.44
Fοr Bοnd Y:
Cοupοn payment = (6.2% × $1,000) / 2
= $31
YTM = 6.8% / 2 = 3.4%
t = 1 (since it makes semiannual payments)
n = 13× 2 = 26
Price οf Bοnd Y tοday = ($31 / (1 + 0.034)¹) + ($31 / (1 + 0.034)²) + ... + ($31 / (1 + 0.034)²⁶) + ($1,000 / (1 + 0.034)²⁶)
= $887.91
If interest rates remain unchanged, the price οf Bοnd X and Bοnd Y οne year frοm nοw will be:
Fοr Bοnd X:
Cοupοn payment = (6.8% × $1,000) / 2 = $34
YTM = 6.2% / 2 = 3.1%
t = 1 (since it makes semiannual payments)
n = 12× 2
= 24
Price οf Bοnd X in οne year = ($34 / (1 + 0.031)¹) + ($34 / (1 + 0.031)²) + ... + ($34 / (1 + 0.031)²⁴) + ($1,000 / (1 + 0.031)²⁴)
= $1,151.94
Fοr Bοnd Y:
Cοupοn payment = (6.2% × $1,000) / 2
= $31
YTM = 6.8% / 2
= 3.4%
t = 1 (since it makes semiannual payments)
n = 12 × 2
= 24
Price οf Bοnd Y in οne year = ($31 / (1 + 0.034)¹) + ($31 / (1 + 0.034)²)+ ... + ($31 / (1 + 0.034)²⁴) + ($1,000 / (1 + 0.034)²⁴)
= $901.43
Similarly, the prices οf Bοnd X and Bοnd Y in three years, eight years, 12 years, and 13 years (at maturity) can be calculated using the same fοrmulas by adjusting the values οf t and n accοrdingly:
Prices οf Bοnd X and Bοnd Y in three years:
Bοnd X: $1,175.23
Bοnd Y: $842.95
Price οf Bοnd X and Bοnd Y in eight years:
Bοnd X: $1,364.15
Bοnd Y: $731.60
Prices οf Bοnd X and Bοnd Y in 12 years:
Bοnd X: $1,530.50
Bοnd Y: $617.44
Prices οf Bοnd X and Bοnd Y in 13 years (at maturity):
Bοnd X: $1,552.70
Bοnd Y: $600.00 (since it is a discοunt bοnd, its price at maturity will be equal tο its face value)
Learn more about bond :
brainly.com/question/28529251
#SPJ1
Cheryl is a social worker who wants to do the best she can for her clients. She has gotten into the habit of saying yes to requests from her clients no matter how impractical those requests are. Which skill has Cheryl MOST likely overused?
A.
collaboration
B.
professionalism
C.
flexibility
D.
follow-through
The skill that has been most likely overused by Cheryl is professionalism. Thus, the correct answer is option B.
What is skill?
A skill is the learned ability to act in a predictable manner with good execution, often within a limited amount of time, energy, or both. Domain-general and domain-specific skills are frequently distinguished.
Professionalism entails meeting high standards on a consistent basis, both visibly and "behind the scenes" - regardless of our role or profession. Some industries, workplaces, or roles have specific "rules" of professionalism. These can be explicit, such as an agreed-upon dress code or a social media policy.
Therefore, professionalism is the skill that is being overused by Cheryl.
To learn more about skill, click here:
https://brainly.com/question/9648460
#SPJ1
. What advice would you give The Container Store on how to hire people who fit the
organization ?
Answer:
The Container Store's Culture IMPROVING FIT AT THE CONTAINER STORE The Container Store wants to hire store employees whose self-motivation, team orientation, and pas sion for customer service will help the company succeed. To accomplish this goal, the company asks every employee to play a role in recruiting.
Prepare the adjusting journal entries that should be recorded for Nicole’s Getaway Spa at December 31, 2015, assuming that the items have not been adjusted prior to December 31, 2015. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)record the adjusting entry for insurance expense where an insurance policy, purchased on june 1 for $3,180 cash, provides coverage for 12 months. the insurance coverage since june has now been used up.
We will debit Insurance Expense for $1,272 and credit Prepaid Insurance for $1,272. This entry will reduce the balance in Prepaid Insurance to $1,908 ($3,180 - $1,272)
The adjusting journal entry for Nicole's Getaway Spa at December 31, 2015, for the insurance expense would be:
Insurance Expense $1,272
Prepaid Insurance $1,272
The insurance policy was purchased on June 1, 2015, and provides coverage for 12 months, meaning it covers the period from June 1, 2015, to May 31, 2016. Since the insurance coverage since June has been used up, we need to record an adjusting entry to reduce the balance in the Prepaid Insurance account, which represents the unexpired portion of the policy as of December 31, 2015.
The calculation for the insurance expense is as follows:
Total cost of insurance policy / 12 months x 7 months (June 1, 2015, to December 31, 2015) = $3,180 / 12 x 7 = $1, 272
Therefore, we will debit Insurance Expense for $1,272 and credit Prepaid Insurance for $1,272. This entry will reduce the balance in Prepaid Insurance to $1,908 ($3,180 - $1,272), which represents the amount that is still prepaid and will be used in the future periods.
To know more about accounting here
https://brainly.com/question/22917325
#SPJ4
decisions such as deciding how many employees to hire, salary schedules, and training policies are made during the ________ phase of the management process
decisions such as deciding how many employees to hire, salary schedules, and training policies are made during the implementation phase of the management process.
The management process' implementation phase, when the strategy created in the preceding phases is put into effect, is when decisions concerning hiring employees , wages, and training are often made. Managers are in charge of monitoring staff actions during implementation, making sure that the organization's goals and objectives are being achieved, and modifying the plan as needed when circumstances change. Nevertheless, depending on the requirements and objectives of the company, similar choices may also be made during other stages of the management process, such as planning or controlling. In any event, these choices must be well thought through and scrutinised because they are crucial to the organization's success.
learn more about employees here:
https://brainly.com/question/18633637
#SPJ4
Which of the following are ways that the Federal Reserve influences the U.S. economy through its monetary policies? Check all that apply. Using open-market operations to sell securities, the Fed can increase the money supply, thereby increasing interest rates and Subsequently reducing the rate of inflation. Using open-market operations to buy securities, the Fed can increase the money supply, thereby increasing interest rates, which would cause security prices to decrease. Using open-market operations to sell securities, the Fed can decrease the money supply, thereby increasing interest rates, which would cause security prices to decrease. The Fed can increase the Fed funds rate in an attempt to balance out inflationary pressure. The following graphs represent (1) The Money Market and (2) The Aggregate Supply and Aggregate Demand within the U.S. economy The money market shows how the nominal interest rate fluctuates to make the amount of money that people want to hold equal to the money supply. The demand curve shows the relationship between the quantity of money demanded and interest rates, and it's downward sloping because this is an inverse relationship. As interest rates increase, people would prefer to invest their financial assets, decreasing the quantity of money demanded. As interest rates decrease, people may be more willing to hold their financial assets as cash or bank deposits and borrow, increasing the quantity of money demanded. The money supply shows the relationship between the amount of money supplied and interest rates, and is vertical because money creation changes interest rates, however it is not being done in response to interest rates. And so, the money supply is independent of interest rates, which gives it the vertical shape. The aggregate supply and aggregate demand model shows the relationship between changes in real gross domestic product and changes in the price level (inflation). The aggregate demand curve shows the relationship between the price level and the total amount of money spent on those goods and services. It is downward sloping because this is an inverse relationship. As the price level increases, the amount of goods and services demanded will decrease. As the price level decreases, the amount of goods and services demanded will increase. The components that make up real GDP are: Consumer Spending (C), Business Investment (1), Government Expenditures (G), and Net Exports (X-M). The aggregate supply curve shows the relationship between the price level and the total amount of output firms will sell. It is upward sloping because this is a positive relationship. As the price level increases, the amount of goods and services sold will increase. As the price level decreases, the amount of goods and services sold will decrease. Use the graph to show what happens in the given scenario and to help answer the questions that follow. (Note: You will not be graded on any changes you make to the graph.) (1) (2) 2 Money Market Aggregate supply and Aggregate Demand Supply AS INTEREST RATE (Percent) PRICE LEVEL Demand AD QUANTITY OF MONEY REAL GROSS DOMESTIC PRODUCT Suppose the FOMC's policy directive instructs the Trading Desk at the New York Fed to decrease the federal funds rate because the U.S. economy is experiencing a recession, and the FOMC wants to stimulate spending in the economy. Ir the FOMC wants to decrease the Fed funds rate, then the Trading Desk traders will government securities. This results in a shift of the money supply curve to the and so there will be a[n) in interest rates. As a result, consumers will purchase and Save and businesses will invest . Consequently, the aggregate demand curve will shift to the right, which shows that the economy has been successfully stimulated
Using open-market operations to buy securities and using open-market operations to sell securities are ways that the Federal Reserve influences the U.S. economy through its monetary policies.
How does the open-market operations affect Federal Reserve influences the U.S. economy through its monetary policies?If the FOMC's policy directive instructs the Trading Desk at the New York Fed to decrease the federal funds rate because the U.S. economy is experiencing a recession, the Trading Desk traders will buy government securities.
This results in a shift of the money supply curve to the right, and so there will be a decrease in interest rates. As a result, consumers will purchase and save more, and businesses will invest more.
Consequently, the aggregate demand curve will shift to the right, which shows that the economy has been successfully stimulated.
Learn more about federal reserve from
https://brainly.com/question/27217598
#SPJ1
If you are unsure of your own ethical standards, you are more likely to succumb to outside influence when making a decision. T/F
True, You are more prone to give in to outside pressure when making decisions if you are unsure about your own moral principles.
What occurs when the moral rules are broken?Unacceptable conduct has a negative impact on both individuals and groups. You might lose your job and reputation, businesses might suffer a loss of credibility, morale and output may suffer, or the behavior might result in costly fines and/or financial losses.
What criteria do you use to decide on an ethical course of action?Making ethical decisions is based on essential character attributes including reliability, accountability, respect, fairness, compassion, and good citizenship. Making ethical choices results in ethical behaviors, and these behaviors form the basis of ethical business practices.
Learn more about ethical decisions: https://brainly.com/question/14890010
#SPJ4
which of the following is not a benefit claimed for the practice of determining materiality in the initial planning stage of an audit?
One unstated benefit of evaluating materiality from the early planning stage of an audit is that it can assist in identifying all instances of fraud or unlawful activity in the firm.
Materiality assists the auditor in determining the seriousness of financial statement misstatements, which in turn determines the scope and processes of the audit. Other advantages of assessing materiality include focusing the audit on key areas, boosting communication with management, and increasing audit efficiency. the following is not a benefit claimed for the practice of determining materiality in the initial planning stage of an audit unstated benefit of evaluating materiality from the early planning stage of an audit is that it can assist in identifying all instances of fraud or unlawful activity in the firm.
learn more about audit here:
https://brainly.com/question/29575176
#SPJ4
suppose the federal government requires beer drinkers to pay a $2 tax on each case of beer purchased. (in fact, both the federal and state governments impose beer taxes of some sort.)a. Draw a supply-and-demand diagram of the market for beer without the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers?b. Now draw a supply-and-demand diagram for the beer market with the tax. Show the price paid by consumers, the price received by producers, and the quantity of beer sold. What is the difference between the price paid by consumers and the price received by producers? Has the quantity of beer sold increased or decreased?
The point at which the supply curve and the Demand curve meet without tax is E, which is the market's equilibrium. The quantity of beer on the market is Q, and the price paid by customers and the price received by producers are both equal to P.
What is meant by Supply curve and Demand Curve?The quantity of a particular product or service that consumers will be willing and able to purchase at each price over a given time period is depicted by the demand curve.
It is well acknowledged that supply tends to increase as a result of suppliers' willingness to create more as prices rise. Most people think that demand goes down: Customers make fewer purchases at higher prices.
A supply curve is a graph that shows how a seller's supply changes when the price of a good or service changes. The quantity supplied is shown on the horizontal x-axis, while the price is shown on the vertical y-axis.
Therefore, The relationship between the price of a good or service and the quantity demanded over a given time period is depicted graphically in the demand curve.
Learn more about Supply curve here:
https://brainly.com/question/1915798
#SPJ1
Select all that apply The statement of cash flows explains the difference between beginning and ending balances of cash and cash equivalents. A cash equivalent must sisty which of the following criteria? Check wi that apply) O Be held at a local institution O Be close to maturity O Be backed by secured assetsO Be readly convertible to a known amount of cash
Be backed by secured assets is the criteria is a cash equivalent must sisty. Hence, option B is correct.
What is the concept of the excerpt?The difference between the beginning and ending balances of cash and cash equivalents is explained by the statement of cash flows, which must be backed by secured assets and be close to maturity.
The balance sheet displays the assets and liabilities that arise from the cash flow statement's activities whereas the cash flow statement displays the amount of money coming in and leaving out.
Thus, option B is correct.
For more information about concept of the excerpt, click here:
https://brainly.com/question/29994709
#SPJ1
Answer: Be close to maturity and Be readily convertible to a known amount of cash
Explanation: was originally answered incorrectly
What are the components of AWS global infrastructure?
Regions, Availability Zones, Edge Locations, and Global Accelerator are all parts of the AWS global infrastructure. The AWS global infrastructure's edge sites are used by Amazon Cloud Front.
The many parts of the AWS global infrastructure include:
Regions: Physical areas in which AWS resources, including servers and data centres, are situated.
High availability and fault tolerance are provided by isolated data centres known as availability zones within a region.
Data centres in various places across the world that act as the endpoints for AWS services like DNS resolution and content delivery.
An organization's on-premises infrastructure and an AWS Direct Connect site are connected by a dedicated network using AWS Direct Connect.
AWS Global Accelerator: A service that uses the AWS global network to direct traffic to the best AWS endpoints.
learn more about AWS global infrastructure here:
https://brainly.com/question/30401293
#SPJ4
According to the map, which location received manufactured goods in exchange for enslaved humans?
According to the map, the location that received manufactured goods in exchange for enslaved humans were in Africa.
Being a slave, who is unable to stop working for an enslaver, and having one's property treated as one's own are both considered to be slavery and enslavement, respectively. While the location or residence of the worker is determined by the enslaver, slavery typically involves some type of work.
Many historical cases of slavery resulted from breaking the law, accruing debt, or losing a war; other types of slavery were established along demographic lines, such as race. For a set amount of time after which they would be freed, or for life, slaves may be held in servitude.
Despite the fact that coercion and forced servitude are the norm in slavery, there are some instances where people choose to work as slaves voluntarily in order to repay debts or supplement their meager income.
Slavery was a common feature of civilization throughout human history and was legal in the majority of societies, but it is now prohibited in the majority of the world's nations, with the exception of those that use it as a punishment for crimes.
To learn more about slavery: https://brainly.com/question/9374853
#SPJ4
based on the following information for mackie, inc., what is their net income 2020. please use a 21% corporate tax rate. 2019 2020 sales $3,790 $3,990 cost of goods sold 2,043 2,137 depreciation expense 975 1,018 interest 225 267 dividends 200 225 current assets 2,140 2,346 net fixed assets 6,770 7,087 current liabilities 994 1,126 long-term debt 2,869 2,956
$343 is their net income 2020 2020. Net revenue is the amount of accounting profit left over after all expenses have been paid.
What are net income and gross income?Employees earn their gross pay before taxes, benefits, and other payroll deductions are deducted from their pay. Net pay, also known as take-home pay, is the amount left over after all withholdings have been deducted.
Given
Sales =$3990
COGS = $2137
Depreciation = $1018
Interest = $267
Dividend = $225
Required to Calculate Net Income for the period 2020 =?
Net Income = 3990 - 1018 - 267 - 225 - 2137 = $343
Net income is the amount of money left over after taxes and deductions have been deducted from your paycheck. Net income is the money left over after paying operating costs, administrative costs, cost of goods sold, taxes, insurance, and any other business expenses.
Learn more about Net Income here:
https://brainly.com/question/15570931
#SPJ1
Which of the following forecasting methodologies is considered a causal forecasting technique?
A. Exponential smoothing
B. Weighted moving average
C. Linear regression
D. Historical analogy
E. Market research
Option C is the correct option.
Forecasting methodologies is considered a causal forecasting technique. Linear regression is considered a causal forecasting technique because it seeks to establish a relationship between the variable being forecasted and one or more other variables that are believed to be causally related to it.
A variable's value can be predicted using linear regression analysis based on the value of another variable. The dependent variable is the one you want to be able to forecast. The independent variable is the variable you are using to forecast the value of the other variable.
The other options listed - exponential smoothing, weighted moving average, historical analogy, and market research - are not considered causal forecasting techniques.
For more such type of questions Linear regression:
https://brainly.com/question/28178214
#SPJ4