Answer:
b
Explanation:
Assuming all other factors remain constant, if fixed costs increase, then the break-even point will:
Answer:
Results are below.
Explanation:
To calculate the break-even point, the following formula is required:
Break-even point in units= fixed costs/ contribution margin per unit
Contribution margin per unit= selling price - unitary variable cost
If the fixed costs increase and the unitary contribution margin remains constant, the company would have to sell a larger amount of units to cover the fixed costs.
For example:
Fixed costs0= 120,000
Fixed costs 1= 140,000
Unitary contribution margin= 40
Break-even point in units= 120,000/40= 3,000
Break-even point in units= 140,000/40= 3,500
The balance in the office supplies account on January 1 was $7,900, supplies purchased during January were $3,000, and the supplies on hand at January 31 were $2,500. The amount to be used for the appropriate adjusting entry is
Answer:
8400
Explanation:
The office supplies on Jan 1 was $7900
Supplies purchased during January was $3000
The supplies at hand in January Is $2500
$7900+$3000
= $10,900
= 10,900-2500
= 8,400
Hence the appropriate adjusting entry is $8400
Suppose that Dr. Reilly owns a medical clinic and he enters into a contract to buy 500 tablets of Gensol from Pharzime. The Gensol that he orders are 200 milligrams each. The Gensol that is delivered however are 100 milligrams each. Decide.
Answer: See explanation
Explanation:
Based on the information given, it can be infered that the goods are nonconforming due to the perfect tender rule.
According to the perfect tender rule, a buyer can reject goods that are deliveres to him or her tender of the goods from the seller isn't perfect. Since the Gensol that he orders are 200 milligrams each while the one delivered are 100 milligrams each, then they aren't perfect.
Therefore, the clinic can reject the shipment, or keep some and reject others if it wants to.
On June 30, 2014, Apricot Co. paid $5,000 cash for management services to be performed over a two-year period. Apricot follows a policy of recording all prepaid expenses to asset accounts at the time of cash payment. The adjusting entry on December 31, 2014,for Apricot would include:
Answer:
A debit to Management Services Expense for $1,250
Explanation:
The adjusting entry should be
Management Services Expense Dr ($5,000 ÷ 2 × 6 ÷12) $1,250
To Cash $1,250
(being cash paid is recorded)
Here cash is debited as it increased the expense and cash is credited as it decreased the assets
Hence, the same should be considered
ike started a calendar-year business on September 1st of this year by paying 12 months of rent on his shop at $650 per month. What is the maximum amount of rent that Mike can deduct this year under each type of accounting method
Answer:
$7800 under the cash method and $2600 under the accrual method
Explanation:
Calculation to determine the maximum amount of rent that Mike can deduct this year under each type of accounting method
UNDER THE CASH METHOD
Cash method=$650*12
Cash method=$7800
UNDER THE ACCRUAL METHOD
Accrual method =4 months*650
Accrual method =$2600
(September 1st to December 31st =4 months)
Therefore the maximum amount of rent that Mike can deduct this year under each type of accounting method is :$7800 under the cash method and $2600 under the accrual method
Keys, Inc. purchased 100 shares of its own common stock for $10 per share. The stock is now classified as ______ stock, a contra equity account, reported on the statement of stockholder's equity.
Answer:
Treasury Stock
Explanation:
A firm`s purchase of its own stock is known as Treasury Stock. This is a a contra equity account, that is reported on the statement of stockholder's equity.
A financial institution near you advertises itself as especially oriented towards educators and teachers. What is the category this institution would most likely fall under
Answer:
Credit union.
Explanation:
A credit union can be defined as a non-profit making financial cooperative that is typically controlled by its members (employees, church groups, labour unions etc) and it is saddled with the responsibility of providing financial services like the traditional banks to employees such as teachers, educators, nurses, etc.
Generally, the profit made from the amount of money that is being deposited by the members of a credit union are usually returned to the members as a form of better interest rates. Some examples of credit unions are SchoolsFirst Credit Union, New York University Federal Credit Union, Consumers Credit Union, etc.
In this scenario, a financial institution advertises itself as especially oriented towards educators and teachers. Thus, the category this institution would most likely fall under is a credit union because it's not run like businesses that is after making profit i.e it's a non-profit business established to assist employees with their finances.
Answer:
Credit union
Explanation:
Credit union is the category this institution would most likely fall under.
One significant component of _____ can be the investment a seller makes in equipment or in the hiring of skilled employees to supply the product or service to the buyer.
Answer:
Transaction cost
Explanation:
Transaction cost is defined as costs that a person bears in the process of buying or selling of a product.
For example the commission that is paid to a broker for completing a transaction, cost of transportation that is spent when completing an exchange, and time for completing the purchase are all examples of transaction cost.
In the given instance transaction cost is exemplified by the investment a seller makes in equipment or in the hiring of skilled employees to supply the product or service to the buyer.
briefly,explain why the depth of floatation of a ship changes when it sails from the Arabian sea to the lndian ocean
Answer:
change in density of sea water
The depth of flotation of a ship changes when it sails from the Arabian Sea to the Indian Ocean because of the change in the density of sea seawater.
What is the ocean?
The greatest area on earth is referred to as the “ocean.” The ocean's 71% slat water has a light blue appearance. The motion of water waves is the ocean. Magnesium, calcium, and chlorine are abundant in the ocean. The ocean covers the large surface area of the Earth.
The ship captain is driving the ship off the sea and turning into the Indian Ocean changing the depth of the ocean because of changes in the density of seawater. The density of the water can change only based on the temperatures the cool means density increases and hot means decreases.
As a result, the flotation of the ship changes because of the density of the water change.
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Reviewing and evaluating records used to prepare a company's financial statements is referred to as ______.
Answer:
Auditing
Explanation:
Auditing means the audits of the financial statement or the objective examination and the financial statement of the company could be evaluated. It is performed by the third party i.e. auditor. It can be performed by the internal parties and government entity like the internal revenue service
So the review and evaluation of the financial records is called as the auditing
An unmarried couple wants to buy a house and take title so that when one of them dies the deceased's share will go to the deceased's heirs. The form of ownership they should use when they purchase the house is
Answer:
tenancy in common
Explanation:
From the question we are given an instance, whereby An unmarried couple wants to buy a house and take title so that when one of them dies the deceased's share will go to the deceased's heirs. The form of ownership they should use when they purchase the house is tenancy in common.
Tenancy in common can be regarded as an arrangement involving two or more people sharing ownership rights as regards a property or parcel of land. This property could be be a
residential property or commercial property . In a case, whereby a tenant in common dies, there would be passing over of the property to that tenant's estate. The control of total property by independent owner may be equal or different percentage of the total property. the tenancy in common partner can decide to leave the share he or she has in the property to any beneficiary as a part of their estate.
Good, a C corporation, sells an automobile to its sole shareholder for $4,500. Good's adjusted basis in the automobile is $12,000, and the fair market value is $5,000. What is the amount of loss that is recognized by Good
Answer:
$0
Explanation:
The computation of the amount of loss is shown below:
Generally taxpayers does not subtracted the losses on sales of property that can be with the related parties
And, in the case when a corporation and the shareholder who owns more than 50% of that one corporation so it to be considered as the relevant parties
Therefore the amount is zero
WillowWorks LLC, a retail clothing store, has been sourcing its raw materials from a supplier named ThreadTym Corp. for the last five years. A change of management at ThreadTym resulted in an increase of the prices of the raw materials. As a result, WillowWorks purchases ThreadTym so that it can produce these products on its own. This scenario best illustrates ________.
Answer: backward integration
Explanation:
Backward integration refers to a scenario whereby a company purchases another company which supplies the products that are required for production.
Since WillowWorks purchases ThreadTym so that it can produce these products on its own, then this is backward integration.
Mae and Joe form a partnership. Mae contributes $3,000 in cash, and Joe contributes his services. Throughout the life of the partnership, Mae also lends the partnership $1,000. Upon dissolution of the partnership, $2,500 is left in the partnership assets after all outside creditors have been paid. Absent a partnership agreement to the contrary, how should the partnership assets be distributed
Answer:
The partnership assets should be distributed $ 1875 for Joe and $ 625 for Mae.
Explanation:
Since Mae and Joe form a partnership, and Mae contributes $ 3,000 in cash, and Joe contributes his services, and throughout the life of the partnership, Mae also lends the partnership $ 1,000, and upon dissolution of the partnership, $ 2,500 is left in the partnership. assets after all outside creditors have been paid, absent a partnership agreement to the contrary, to determine how the partnership assets should be distributed the following calculation must be performed:
Joe = 3000
Mae = 1000
Joe 3: 1 Mae
2500/4 x 3 = Joe = 1875
2500/4 = Mae = 625
Therefore, the partnership assets should be distributed $ 1875 for Joe and $ 625 for Mae.
Harold is a sales manager associated with TickTock Watches for the past thirty-five years; he was instrumental in the company's success. As an attempt to dissuade Harold from complete cessation of work, the management of TickTock Watches provided Harold with reduced working hours and offered him the role of a mentor. In this scenario, the arrangement offered to Harold by TickTock Watches is _____. Group of answer choices phased retirement early retirement bridge retirement voluntary retirement
Answer:
phased retirement
Explanation:
From the question, we are informed about Harold who is a sales manager associated with TickTock Watches for the past thirty-five years; he was instrumental in the company's success. As an attempt to dissuade Harold from complete cessation of work, the management of TickTock Watches provided Harold with reduced working hours and offered him the role of a mentor. In this scenario, the arrangement offered to Harold by TickTock Watches is phased retirement. Phased retirement can be regarded as range of employment arrangements that is been put in place, to give room to an employees that are already approaching retirement age so they can continue working in the firm with a reduced workload, so that t the end of the day they can experience a transition from full-time work into what is called full-time retirement. Phased retirement encompass pre-retirement as well as gradual reduction in work hours , it also contains post-retirement as regards pensioners that has wish to remain employed.
In a pizza parlor the chain of command is a general manager, shift manager, and employees. The employees report to the shift manager who reports to the general manager. This exemplifies a ______.
Answer:
noe ileegs
Ex
no single
It is generally recognized that a major objective of accounting for inventory is the proper determination of
Answer:
Net income
Explanation:
The main objective of an accounting with respect to the inventories is determining of an income via the matching principle where the revenues are matched with the expenses incurred
So as per the given situation, the net income should be considered and relevant
Therefore it is to be correct term that should be used here
The F. Mercury, Capital account has a credit balance of $29,750 before closing entries are made. If total revenues for the period are $92,700, total expenses are $68,300, and withdrawals are $15,750, what is the ending balance in the F. Mercury, Capital account after all closing entries are made?
Answer:
$38,000 credit balance
Explanation:
Data and Calculation
Capital Account
Debit :
Drawings $15,750
Closing Balance $38,000
Credit :
Opening Balance $29,750
Profit ($92,700 - $68,300) $24,000
thus
Capital account after all closing entries are made has credit balance of $38,000.
Si hacemos una compra en cuenta corriente ¿ obtenemos un "descuento" en el precio de un objeto o un recargo en el mismo ?
Answer:
Un recargo, pequeño, en el mismo.
Explanation:
Una cuenta corriente es una cuenta bancaria destinada a depósitos y retiros corrientes, y la utilización de cheques a tales fines. Dado que el uso de cheques como medio de pago ha disminuido a niveles muy bajos, la emisión de cheques ha disminuido y, en ocasiones, se ha abolido por completo. Sin embargo, la cuenta corriente a nombre sobrevive en algunos casos en el habla cotidiana.
El propósito de una cuenta de transacciones es usarse para una gran cantidad de depósitos y retiros. Los términos y condiciones de la cuenta normalmente incluyen el derecho a realizar un número ilimitado de transacciones con los fondos de la cuenta sin ningún tipo de bloqueo u otras medidas de limitación de liquidez. Por otro lado, el banco normalmente ofrece tasas de interés muy bajas o nulas sobre los fondos en circulación.
Hoy en día, la cuenta de transacciones a menudo está vinculada a varias formas de soluciones de banca por Internet para permitir pagos y otras transacciones a través de la computadora del cliente del banco. El banco también suele proporcionar tarjetas de cajero automático o tarjetas de débito a particulares con cuentas de transacciones.
Financial Statements of ABC Corp. indicates that ending inventory levels in 2005 and 2006 were $200,000 and $350,000 respectively. Cost of Goods sold for 2005 and 2006 were $1,900,000 and $2,200,000 respectively. Purchases in 2006 were:
Answer:
Cost of goods purchased= $2,350,000
Explanation:
Giving the following information:
Beginning inventory 2006= ending inventory 2005= $200,000
Ending inventory 2006= $350,000
COGS 2006= $2,200,000
To calculate the purchases for 2006, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
2,200,000 = 200,000 + cost of goods purchased - 350,000
2,200,000 - 200,000 + 350,000 = cost of goods purchased
cost of goods purchased= $2,350,000
The combination of factors particular to a time and place that do not follow from a knowledge of the stable attributes of a consumer and a stimulus and that have an effect on current consumer behavior is known as
Answer:
situational influence
Explanation:
Situational influences can be regarded as temporary conditions which has an
effect on the behavior of the buyers towards your products. These holds in case whereby the buyer actually purchase the product, do not buy the product or even purchase additional products. These conditions are influenced by factors like time factors,
factors as well as social factors and
reason why the buyer make purchase and his/her mood.
It should be noted that situational influence is the combination of factors particular to a time and place that do not follow from a knowledge of the stable attributes of a consumer and a stimulus and that have an effect on current consumer behavior.
What is one result of competition in a free-market economy?
A. Businesses control the price that all the companies within an
industry can charge.
B. Consumers can choose which company's products they want to
buy.
C. The government decides who is allowed to compete in the market.
D. Traditional values determine who will compete in the market.
Companies can use _____ analysis to predict income based on various changes in fixed or variable costs, selling price and volume. multiple choice income sales CVP margin of safety
Answer:
Constant or fixed cost
Explanation:
because companies are always set fixed money to their customers
Lance has a contract with Smith to resurface a driveway at the Smith residence. Lance by mistake stops at the Jones residence and resurfaces Jones' driveway. Jones lives next door to Smith and knows that Lance is at the wrong residence. Jones, however, says nothing and watches while Lance resurfaces his driveway. Is Jones under any contractual obligation to pay Lance for resurfacing his driveway? Explain your answer.
Answer: Yes
Explanation:
Ignoring a situation you have an idea of to play out in another way has implications. Under Quasi-k, the court will implicate a contractual obligation on Mr Jones for staying idle and giving permission to Mr Lance to carry out the activity.
__________ is a control mechanism in which organizations make sure that the right people do the right things at the right time.
The hierarchy of authority is a control mechanism in which organizations ensure that the right people do things at the right time.
What the organizational structure?It is the set of components that make up the organizational whole, making its structure and systems aligned with its central objective. The structure is composed of three factors:
ComplexityFormalizationCentralizationTherefore, the hierarchy of authority is a part of the centralized organizational structure that will ensure that processes run correctly.
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Which program provides lump-sum compensation and health benefits for eligible Department of Energy nuclear weapons workers injured on the job
Answer: Energy Employees Occupational Illness Compensation Program (EECICP)
Explanation:
Much like private companies, the Federal government is also required to insure its workers and this is regulated under the Office of Workers' Compensation Programs (OWCP). There are several compensation programs but the relevant one here is the EECICP.
The EECICP is for federal employees in the Department of Energy as well as agencies related to them. This also includes contractors and subcontractors. Under this program, eligible workers who got injured are entitled to a lump-sum compensation as well as health benefits. If the worker dies as a result of the injuries however, a lump-sum might go to their survivors instead.
What is NOT an aspect of agile and dynamic business processes? a) Developed to assist in incremental process improvement d) Change requires significant redesign work e) Quick to support shifting business requirements c) Allows for firms to take advantage of the newest innovations b) Relies on an advanced degree of information technologies
Answer:
d) Change requires significant redesign work
Explanation:
It is correct to say that work redesign is not an aspect of agile and dynamic business processes, as it is a process of molding work functions, which can occur gradually according to new technologies and internal and external changes of the organizational environment.
The work redesign will reorganize the work in an organization, which can be a positive point that helps the company to update itself on the best practices and work processes, but it requires constant efforts by the organization in relation to training and adaptation of employees, which can be a long process for organizations.
A mortgage with low initial payments that increase over time without ever leveling off is a graduated payment mortgage. growing-equity mortgage. second mortgage. shared-appreciation mortgage. equity line of credit
Answer:
growing-equity mortgage
Explanation:
When a person obtains a growing equity mortgage, they have to pay a higher monthly payment every month. These increases must be included in the mortgage contract and they are beneficial if the borrower's income is expected to increase in the future. The interest rate remains the same, it doesn't change.
If the supply of real balances is 300, and the gross domestic product is 90, then the equilibrium interest rate is
Suppose that the demand for real balances is (M / P)d = (5Y) - (20r). If the supply of real balances is 300, and the gross domestic product is 90, then the equilibrium interest rate is
Answer:
7.5
Explanation:
Given that (M / P)d = (5Y) - (20r).
Where supply of real balances is 300
The gross domestic product is 90
Hence we have 300 = (5Y) - (20r)
Therefore, we have 300 = (5×90) - (20r)
=> 300 = 450 - 20r
=> 20r = 450 - 300
=> 20r = 150
=> r = 150 ÷ 20
=> r = 7.5
Therefore, in this case, the correct answer to the question is that the equilibrium interest rate is 7.5
After managers have implemented a decision, they must determine whether it has accomplished the desired result, this is called ______.
Answer:
monitoring
Explanation:
Monitoring is an essential step in tracking the results of an organizational operation. When a decision is implemented in a company, it must be monitored through a systematic collection of data and information that allow the manager to analyze whether the decision is in accordance with the plan, whether the progress is being effective and whether the results are compatible with the planned, being able to make changes to the project if necessary, eliminate bottlenecks and continuously improve organizational operations, achieving greater quality and effectiveness.