Answer:
Bank Reconciliation Statement as at June 30
Balance as per Bank Statement $23,541
Add Outstanding Lodgements : $3,982
Less Unpresented Checks : ($2,894)
Balance as per Cash Book $24,629
Explanation:
First adjust the Cash Book Balance as follows :
Cash Book (Bank Columns Only)
Debit :
Balance before adjustments $24,625
Correction of Error $9
Interest earned $22
Totals $24,656
Credit :
Bank service charges $27
Adjusted balance (balancing figure) $24,629
Totals $24,656
Then Prepare a Bank Reconciliation Statement :
Bank Reconciliation Statement as at June 30
Balance as per Bank Statement $23,541
Add Outstanding Lodgements : $3,982
Less Unpresented Checks : ($2,894)
Balance as per Cash Book $24,629
Conclusion :
The Cash Balance is $24,629. This amount will be shown in the Balance Sheet under Current Assets Section.
Stanley-Morgan Industries adopted a defined benefit pension plan on April 12, 2021. The provisions of the plan were not made retroactive to prior years. A local bank, engaged as trustee for the plan assets, expects plan assets to earn a 10% rate of return. The actual return was also 10% in 2021 and 2022\.\* A consulting firm, engaged as actuary, recommends 5% as the appropriate discount rate. The service cost is $300,000 for 2021 and $390,000 for 2022. Year-end funding is $310,000 for 2021 and $320,000 for 2022. No assumptions or estimates were revised during 2021\.\* We assume the estimated return was based on the actual return on similar investments at the inception of the plan and that, since the estimate didn't change, that also was the actual rate in 2022.Required:Calculate each of the following amounts as of both December 31, 2021, and December 31, 20221. Projected benefit obligation2. Plan assets3. Pension expense4. Net pension asset liability
Answer:
1. Balance, December 31, 2022 $705,000
2. Balance, December 31, 2022 $661,000
3. Pension expense 2021 $300,000
Pension expense 2022 $374,000
4. Net pension asset, Dec. 31, 2021 $ 10,000
Net pension liability, Dec. 31, 2022 $ 44,000
Explanation:
1. Calculation for the Projected benefit obligation
Projected Benefit Obligation
($)
Balance, January 1, 2021 $ 0
Service cost 300,000
Interest cost (5% x $0) 0
Benefits paid (0)
Balance, December 31, 2021 $300,000
Service cost 390,000
Interest cost (5% x $300,000) 15,000
Benefits paid (0)
Balance, December 31, 2022 $705,000
(300,000+390,000+15,000)
2. Preparation of Plan assets
Plan Assets
Balance, January 1, 2021 $ 0
Actual return on plan assets (10% x $0) 0
Contributions, 2021 310,000
Benefits paid (0)
Balance, December 31, 2021 $310,000
Actual return on plan assets 31,000
(10% x $310,000)
Contribution, 2022 320,000
Benefits paid (0)
Balance, December 31, 2022 $661,000
(310,000+31,000+320,000)
3. Preparation of Pension expense
Pension expense – 2021
Service cost $300,000
Interest cost (5% x $0)0
Expected return on the plan assets (10% x $0) 0
Pension expense $300,000
Pension Expense – 2022
Service cost $390,000
Interest cost 15,000
(5% x $300,000)
Expected return on the plan assets (31,000)
(10% x $310,000)
Pension expense $374,000
4. Preparation of the Net pension asset liability
PBO $300,000
Plan assets 310,000
Net pension asset, Dec. 31, 2021 $ 10,000
PBO$705,000
Plan assets 661,000
Net pension liability, Dec. 31, 2022 $ 44,000
What advertising form did Isaac use if consumer will see his advertisement anytime that they look online for the phrase tree cutting
Answer:
paid search engine results
Explanation:
Paid search engine results, advertising form did Isaac use if consumer will see his advertisement anytime that they look online for the phrase tree cutting. Therefore, option (a) is correct.
What is advertising?
The term “advertising” refers to the part of marketing communication. Advertising is a promotional tool used to attract and inform consumers about available products and services. The main objective of the advertisement is to promote a product or service being purchased by the target audience.
According to the advertising are the based on the target audience. The advertising are the part of the communication. There are the based on the online phrases tree cutting. There are the best adverting for the paid the search engine to attract the consumer.
As a result, the paid search engine results, advertising form did Isaac use if consumer will see his advertisement anytime that they look online for the phrase tree cutting.
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Your question is incomplete, but most probably the full question was.
Paid search engine resultsWeb bannersBroadcast emailsSearch engine optimization (SEO)since noah is worried about completing his research project on time, the most helpful thing he could do is to choose a topic that
a. is broad
b. he has no interest in
c. is easy to research
d. he knows very little about
Answer:
c
Explanation:
They since Noah is worried about completing his research project on time, the most helpful thing he could do is to choose a topic that is easy to research. Thus, option (c) is correct.
What is research?The term “research” refers to generating and creating new ideas with the help of previous studies and phenomena. Using primary valid sources that have already been published on a subject that is related For example, journals, articles, population data, and historical events are based.
According to the case, Noah is worried about completing his research project. It was the necessary to decide the appropriate significance topic related to the research interested. The topic was the known to the easy to the search a matter and the completing her project.
As a result, the significance of the research are the aforementioned. Therefore, option (c) is correct.
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Menlo Company distributes a single product. The company’s sales and expenses for last month follow: Total Per Unit Sales $ 450,000 $ 30 Variable expenses 180,000 12 Contribution margin 270,000 $ 18 Fixed expenses 216,000 Net operating income $ 54,000 Required: 1. What is the monthly break-even point in unit sales and in dollar sales? 2. Without resorting to computations, what is the total contribution margin at the break-even point? 3-a. How many units would have to be sold each month to attain a target profit of $90,000? 3-b. Verify your answer by preparing a contribution format income statement at the target sales level. 4. Refer to the original data. Compute the company's margin of safety in both dollar and percentage terms. 5. What is the company’s CM ratio? If sales increase by $50,000 per month and there is no change in fixed expenses, by how much would you expect monthly net operating income to increase?
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $ loan. Option 1: a 30-year loan at an APR of %. Option 2: a 15-year loan at an APR of %. Find the monthly payment for each option. The monthly payment for option 1 is $ nothing. The monthly payment for option 2 is $ nothing
Answer:
The numbers are missing, so I looked for similar questions to fill in the blanks:
You need a $300,000 loan. Option 1: a 30-year loan at an APR of 6%. Option 2: a 15-year loan at an APR of 4.5%.
We can use the present value of an annuity formula to calculate monthly payments.
present value = monthly payment x PV annuity factor
monthly payment = present value / PV annuity factor
present value = $300,000
option 1: PV annuity factor, 0.5%, 360 periods = 166.79161
option 2: PV annuity factor, 0.375%, 180 periods = 130.7201
monthly payment option 1 = $300,000 / 166.79161 = $1,798.65
monthly payment option 2 = $300,000 / 130.7201 = $2,294.98
A business owner will have to decide how selecting one thing over another will impact the business. This is an example of _____.
fixed costs
opportunity costs
variable costs
none of the above
Answer:
opportunity costs
Explanation:
Opportunity cost is the benefit sacrificed as a result of preferring one option over the other. Opportunity cost is an economic concept applied in decisions making. It entails considering the gains to be missed by not selecting a particular option. The advantage of the next best alternative to the preferred option is the opportunity cost.
For the businessman, deciding one thing over the other means sacrificing one of them. Analyzing the impact of the foregone benefits is considering the opportunity cost.
Answer:
Opportunity costs
Explanation:
EDGE 2021 Entreprenuership :D
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank statement shows $30,861 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 3,950 Outstanding checks 1,512 Additionally, a $58 check written and recorded by the company correctly, was recorded by the bank as a $85 deduction. The adjusted cash balance per the bank records should be:
Answer:
$33,316
Explanation:
Preparation of the adjusted cash balance per the bank records
Balance as per bank statement $30,861
Add Deposit in transit 3,950
Add Bank error (85-58) 17
Less Outstanding checks (1,512 )
Adjusted cash balance per the bank RECORDS $33,316
Therefore the adjusted cash balance per the bank records should be $33,316
Those who like gnomes do not want to see a single turtle ornament in anyone else’s garden. If they do see one, it lowers their home value by $20,000. Similarly, if those who like turtles see a gnome, their values go down by $20,000. If either type installs the ornament that they like, it raises their valuation of their own property by $10,000. If you are the director of the homeowners association, should you let everybody do what they want, or should you make a rule about the display of garden ornaments? What rule should you use in order to make that decision?
Answer:
The rule should be made about the display of the garden ornaments. The home owners should be allowed to display garden ornaments that they like.
Explanation:
Many home owners like to decorate their house and the garden area ear their house. They use to place ornaments and decorations that look pleasant to them but others might not like them. If a home places a gnome their own house value will be decreased by $20,000. As some people do not like gnomes they will consider it to rotten the beauty of the house resulting in the decrease in value of the house. As a director of home owners I would not let everyone do whatever they like instead rules should be set which will result in the maximization of the property value.
Real estate construction is a volatile process determined by the interaction of the user, developer and capital markets. What factors affect the volatility of real estate construction and commercial and residential real estate development
Answer:
Real estate market is a unique business in a sense that each product is different and each product has a different value, e.g. two houses with identical blueprints are different due to location and by how well they have taken care off. Another aspect that makes real estate so special is that generally it represents its owners largest asset. Unless you are very wealthy, your house is usually your most valuable possession.
Real estate markets are very volatile. They might be increasing at a rapid pace and then suddenly everything collapses. Remember the great recession back in 2007? Any change in capital markets affects directly the real estate market, even though they are not directly related. E.g. interest rates increase, real estate suffers.
Since construction costs include many items that are not interchangeable, they are highly volatile. They include thousands of different parts that are not necessarily standardized or are not purchased in bulk. E.g. cars also contain thousands of parts, but each car has the same parts (parts are interchangeable). You cannot take a house's wall and place it another house, but you can take a car's wheel and use it in another car.
Blue Corporation is preparing its December 31, 2017, balance sheet. The following items may be reported as either a current or long-term liability.
1. On December 15, 2017, Blue declared a cash dividend of $4.00 per share to stockholders of record on December 31. The dividend is payable on January 15, 2018. Blue has issued 1,000,000 shares of common stock, of which 50,000 shares are held in treasury.
2. At December 31, bonds payable of $111,437,000 are outstanding. The bonds pay 12% interest every September 30 and mature in installments of $27,859,250 every September 30, beginning September 30, 2018.
3. At December 31, 2016, customer advances were $14,726,000. During 2017, Blue collected $30,502,000 of customer advances; advances of $26,172,000 should be recognized in income.
For each item above, indicate the dollar amounts to be reported as a current liability and as a long-term liability, if any.
Reported as
1. Dividends payable $
Current LiabilityLong-term Liability
2. Bonds payable (September 30, 2018 installment) $
Current LiabilityLong-term Liability
Bonds payable (Other than September 30, 2018 installment) $
Current LiabilityLong-term Liability
Interest payable $
Current LiabilityLong-term Liability
3. Customer advances $
Current LiabilityLong-term Liability
Answer:
Current Liabilities are obligations that a company owes that will be paid or settled within a year.
1. Dividends Payable - Current Liabilities
= (Issued stock - treasury stock) * Dividend per share
= (1,000,000 - 50,000) * 4
= $38,000,000
2. Bonds payable (September 30, 2018 instalment) - Current Liabilities
= $27,859,250
Bonds payable (Other than September 30, 2018 instalment) - Long-term Liability
This debt is not to be paid within a year so is a long-term liability.
= Amount outstanding - Annual instalment
= 111,437,000 - 27,859,250
= $83,577,750
Interest Payable - Current Liabilities
Last paid interest in September so by December 3 months would have elapsed.
= 111,437,000 * 3/12 * 12%
= $3,343,110
3. Customer Advances = Current Liabilities
Advances are liabilities as they represent services owed to customers.
= Beginning Advances + Advances - Advances recognized
= 14,726,000 + 30,502,000 - 26,172,000
= $19,056,000
Skysong, Inc. receives a $9500, 6-month, 6% promissory note from Sheridan Company in settlement of an open accounts receivable. What entry will Skysong, Inc. make upon receiving the note?
Answer:
the journal entry should be:
Dr Notes receivable 9,500
Cr Accounts receivable 9,500
Explanation:
Since Sheridan Company owed money to Skysong ($9,500), Skysong recorded that amount as an account receivable. Since the note receivable replaces the account receivable, the accounts receivable must be credited (assets decrease when credited).
If note is collected on time, the journal entry should be:
Dr Cash 9,785
Cr Notes receivable 9,500
Cr interest revenue 285
What is financial risk?
Answer:
what are the options? then ill reply with an answer.
Financial risk refers to your business' ability to manage your debt and fulfil your financial obligations. This type of risk typically arises due to instabilities, losses in the financial market or movements in stock prices, currencies, interest rates, etc.
Example-Risks include external events and activities, such as natural disasters or disease breakouts leading to employee health issues.
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(Answered by Benjemin)
A country wants to promote economic growth by giving companies more
freedom. It cuts taxes on corporations, eliminates environmental regulations,
and makes it easier to start new businesses. The government tries to limit its
involvement in economic issues as much as possible.
This situation best reflects the influence of which economic thinker?
Answer:
Adam Smith
Explanation:
Adam Smith lived in the 18th century. He was Scottish, a decorated philosopher, economist, and author. Many view him as the father of modern economics.
Adam Smith was a principal advocate of the market economy. In his book, ''The Wealth of Nations," Adam emphasized that the individual's need to satisfy self-interest has more societal benefit. Adam Smith wrote this book at a time when markets were heavily regulated by the state, church, and trading societies . He argued that removing unnecessary interference would permit trade to flourish and prosper. Although Smith advocated for individual profits maximization and low trade barriers, he also saw to need for government to participate through regulation. Smith thought that the government had a big role in education and the country's defense.
Smith believed that competition in business ensures that private firms driven by profit motive will produce their goods at the lowest possible cost. This benefits society and ensures markets use resources efficiently.
Smith is also accredited with developing the gross domestic product (GDP) concept and the theory of compensating wage differentials.
The following selected transactions were completed by Coat Delivery Service durning July: 1. Received cash in exchange for common stock, $35,00. 2. Purchased supplies for cash, $1,100. 3. Paid rent for October, $4,500. 4. Paid advertising expense. $900. 5. Received cash for providing delivery services, $33,000. 6. Billed customers for delivery services on account, $58,000. 7. Paid creditors on account, $2,900. 8. Received cash for customers on account, $27,500. 9. Determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month. 10. Paid cash dividends, $2500. Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1) through (10), in column, and inserting at the right of each number the appropriate letter form the following list: a. Increase in the asset, decrease in another asset. b. Increase in and asset, increase in a liability. c. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity.
Answer:
1. Received cash in exchange for common stock, $35,00.
Transaction Effect: Receipt of cash will increase in asset, delivery service will increase in stockholder equity
Correct Option: c
2. Purchased supplies for cash, $1,100.
Transaction Effect: Supplies will increase in asset, cash will decrease in the asset
Correct Option: a
3. Paid rent for October, $4,500.
Transaction Effect: Paid cash will decrease in asset and rent expenses will decrease stockholder equity
Correct Option: e
4. Paid advertising expense. $900.
Transaction Effect: Rent paid will Decrease in an asset, decrease in stockholders' equity
Correct Option: e
5. Received cash for providing delivery services, $33,000.
Transaction Effect: Receipt of cash will increase in asset, delivery service will increase in stockholder equity
Correct Option: c
6. Billed customers for delivery services on account, $58,000.
Transaction Effect: Billing customers will Increase in an asset, increase in stockholders' equity
Correct Option: c
7. Paid creditors on account, $2,900.
Transaction Effect: Creditors payment will Decrease in an asset, decrease in a liability
Correct Option: d
8. Received cash for customers on account, $27,500.
Transaction Effect: Received payment from customers will Increase in an asset, decrease in another asset
Correct Option: a
9. Determined that the cost of supplies on hand was $300 and $8,600 of supplies had been used during the month.
Transaction Effect: Supplies expense will Decrease in an asset, decrease in stockholders' equity
Correct Option: a
10. Paid cash dividends, $2500.
Transaction Effect: Cash payment will decrease in asset, dividend will decrease in stockholders equity
Correct Option: e
Stear Corp. has an opening inventory of $2,500. During the year, it made purchases worth $55,000. At the end of the accounting period, the inventory was worth $1,250. What was the cost of goods sold?
A.
$57,500
B.
$56,250
C.
$53,750
D.
$55,000
Answer:
B. 56,250
Explanation:
"Beginning inventory of 2,500 plus purchases of 55,000 minus ending inventory of 1,250 = 56,250 of cost of goods sold."
Operating a cash register is a _________ skill. (soft skill or hard skill)
Answer:
Also a hard skill.
Explanation:
A hard skill is something that you have to learn.
(b1) Waterways is thinking of mass-producing one of its special-order sprinklers. To do so would increase variable costs for all sprinklers by an average of $0.70 per unit. The company also estimates that this change could increase the overall number of sprinklers sold by 10%, and the average sales price would increase $0.20 per unit. Waterways currently sells 491,740 sprinkler units at an average selling price of $26.50. The manufacturing costs are $6,863,512 variable and $2,050,140 fixed. Selling and administrative costs are $2,651,657 variable and $794,950 fixed. If Waterways begins mass-producing its special-order sprinklers, how would this affect the company
Answer:
operating income will increase by $81,137.10 or 12.09%
Explanation:
we must first determine the old contribution margin of the sprinklers:
total variable costs = $6,863,512 + $2,651,657 = $9,515,169
total units sold = 491,740
variable cost per unit = $9,515,169 / 491,740 = $19.35
selling price per unit = $26.50
old contribution margin = $26.50 - $19.35 = $7.15
the new contribution margin per unit:
selling price = $26.70
variable cost per unit = $20.05
new contribution margin = $6.65
increase in units sold = 491,740 x 10% = 49,174 units
the impact of new product:
before, the company's total contribution margin was 491,740 x $7.15 = $3,515,941
operating income = $3,515,941 - $2,050,140 - $794,950 = $670,851
the new total contribution margin = 540,914 x $6.65 = $3,597,078.10
new operating income = $3,597,078.10 - $2,050,140 - $794,950 = $751,988.10
change in operating income = $751,988.10 - $670,851 = $81,137.10 or 12.09% increase
Sandhill Company owns 31000 of the 50000 outstanding shares of Taylor, Inc. common stock. During 2021, Taylor earns $1360000 and pays cash dividends of $1080000. If the beginning balance in the investment account was $830000, the balance at December 31, 2021 should be
Answer: $2,312,800
Explanation:
From the information given in the question, we can see that Sandhill Company owns 31000 out of 50000 outstanding shares so the equity method can be used.
To calculate the balance at December 31, 2021 goes thus:
= $800,000 + ($1,360,000 × 31000/50000) - ($1,080,000 × 31000/50000)
= $800,000 + ($1,360,000 × 0.62) + ($1,080,000 × 0.62)
= $800,000 + $843,200 + $669,600
= $2,312,800
A company using the periodic inventory system has the following account balances: Merchandise Inventory at the beginning of the year, $4,225; Freight In, $467; Purchases, $14,439; Purchases Returns and Allowances, $2,701; Purchases Discounts, $319. The cost of merchandise purchased is equal to
Answer:
$11,886
Explanation:
the cost of merchandise purchased = purchases (goods purchased by the company) + freight in costs (cost of transporting purchased goods to the company) - purchase returns and allowances (goods returned to suppliers) - purchase discounts (discounts handed out by suppliers) = $14,439 + $467 - $2,701 - $319 = $11,886
The initial inventory is not included in the calculation since it was purchased during previous periods.
Journalize the following business transactions in general journal form. Identify each transaction by number. You may omit explanations of the transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
1.Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
2.Purchased $500 of supplies on credit.
3.Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
4.Real estate commissions billed to clients amount to $4,000.
5.Paid $700 in cash for the current month's rent.
6.Paid $250 cash on account for office supplies purchased in transaction 2.
7.Received a bill for $800 for advertising for the current month.
8.Paid $2,500 cash for office salaries.
9.Paid $1,200 cash dividends to stockholders.
10.Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.
Answer:
Date Account titles and explanation Debit Credit
1. Cash $40,000
Common stock $40,000
(To record cash invested)
2. Supplies $500
Accounts payable $500
(To record supplies purchased on credit)
3. Equipment $25,000
Cash $3,500
Notes payable $21,500
(To record equipment purchased)
4. Accounts receivable $4,000
Service revenue $4,000
(To record real estate commissions billed to clients)
5. Rent expense $700
Cash $700
(To record rent expense)
6. Accounts payable $250
Cash $250
(To record cash paid for office supplies purchased)
7. Advertising expense $800
Cash $800
(To record advertising expense paid)
8. Salaries expense $2,500
Cash $2,500
(To record office salaries paid)
9. Cash dividends $1,200
Cash $1,200
(To record cash dividends paid)
10. Cash $2,000
Accounts receivable $2,000
(To record check received from a client)
Paul is the HR manager at FloGlow Inc., which is preparing for the launch of a new product line. The company needs to know how many new customer service representatives to add to help customers with questions and concerns about the existing and new products. To guide the company, Paul needs information about the number of employees currently providing customer service, the number likely to be in those jobs next year, and the number expected to move to other positions in the organization. The information will be easier to organize and interpret if Paul uses a(n)
Answer:
transitional matrix.
Explanation:
transitional matrix allows to have
probabilities with more than one states moving from one to another. With transitional matrix, prediction can be made as well as the followed trend of events.it can be regarded as stochastic matrix.
In the case whereby Paul, needs information about the number of employees currently providing customer service, the number likely to be in those jobs next year, and the number expected to move to other positions in the organization, it will be easier to organize and interpret all these information if Paul uses transitional matrix because there are different states of information here, and he needs to move from one to the other.
Reagan Corp. acquired one hundred percent of Ford Inc. on January 1, 2016, at a price in excess of the subsidiary's fair value. On that date, Reagan's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000. Ford had equipment (ten-year life) with a book value of $240,000 and a fair value of $350,000. Reagan used the equity method to record its investment in Ford. On December 31, 2018, Reagan had equipment with a book value of $250,000 and a fair value of $400,000. Ford had equipment with a book value of $170,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account as of December 31, 2018? A. $387,000. B. $497,000. C. $508.000. D. $537,000.
Answer:
B. $497,000
Explanation:
Consolidated Balance of Equipment
Excess value at the acquisition $110,000
($350,000-$240000)
Book value as on Dec 31 2018 of Ford $170,000
Book value as on Dec 31 2018 of Regent $250,000
Less: excess depreciation -$33,000 ($110,000/10*3)
Consolidated balance of equipment $497,000
Sort each statement as either true or false. Items (4 items) (Drag and drop into the appropriate area below) Comparative advantage is not an important aspect of specialization and trade.Trade helps to create additional growth through specialization.Everyone benefits with globalized trade.Voluntary trade among rational individuals creates value for everyone involved.
Answer:
Sorting statements as either true or false:
True:
Trade helps to create additional growth through specialization.
Voluntary trade among rational individuals creates value for everyone involved.
False:
Comparative advantage is not an important aspect of specialization and trade.
Everyone benefits with globalized trade.
Explanation:
It is not everyone who benefits with globalized trade. Those who benefit most are those countries that have developed some comparative and competitive advantages. Comparative advantage is the fulcrum of international trade. It ensures that countries engage in trade with others in order to export the goods in which they have some advantages over others.
Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $5,000 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. 3 Paid $220 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $750. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $9,300 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. 21 After negotiations, received from Frist a $500 allowance toward the $9,300 owed on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
Answer: See attachment
Explanation:
Note:
April 17:
Account payable- Lyon Company:
= $5000 - $750
= $4250
Merchandise inventory:
= $4250 × 2%
= $4250 × 0.02
= $85
Cash = $4250 - $85
= $4165
April 28:
Account payable- Frist Corp:
= $9300 - $500
= $8800
Merchandise inventory:
= $8800 × 1%
= $8800 × 0.01
= $88
Cash = $8800 - $88
= $8712
Check the attachment for further information
What is the basic concept used to emphasize in aristotle's model of communication?
Answer:
The Aristotle's communication model is a speaker centered model
Explanation:
as the speaker has the most important role in it and is the only one active. It is the speaker's role to deliver a speech to the audience. The role of the audience is passive, influenced by the speech.
Tangible resources include:
A. human assets and intellectual capital, which can include the talent of the work force and the creativity and innovativeness of certain personnel.
B. reputational assets, which can include the company's reputation for quality, service, and reliability as well as their reputation for fair dealings with suppliers.
C. relationships with alliances that provide access to technologies, specialized know-how, or geographic markets.
D. technological assets such as patents, copyrights, and trade secrets.
E. None of these.
Answer:
D.technological assets such as patents, copyrights, and innovation technologies.
Explanation:
Tangible resources are regarded as a physical asset with a set of value that are been owned by organization, companies. Tangible resources could be equipment, machinery, buildings, cash and so on.
It should be noted that Tangible resources can be in form of technological assets such as patents, copyrights, and innovation technologies.
They are important in finance because their utilization could be for very long time in the business.
:
A worker age 40 wishes to accumulate a fund for retirement by making deposits of $1000 at the beginning of each year for 25 years. Starting at age 65 the worker retires, and plans to make annual withdrawals of $x at the beginning of each year, for 10 years, at which point the fund will be depleted. Assuming that all payments are certain to be made, find the amount of each withdrawal starting at age 65 to the nearest dollar, if the effective rate of interest is 8% for the first 25 years and 7% thereafter.
Answer:
$10,408.62
Explanation:
annual contribution $1,000
n = 25 years
i = 8%
FV annuity factor, 8%, 25 periods = 73.106
future value = $1,000 x 73.106 = $73,106
annual distribution = PV (at age 65) / PV annuity factor
i = 7%
n = 10
PV annuity factor, 7%, 10 periods = 7.0236
annual distribution = $73,106 / 7.0236 = $10,408.62
Given that the price per microprocessor in the above function equals $5.60 and that the software component consists of 1,200 lines-of-code at $120/line-of-code, determine the difference in cost-per-unit (unit is all the hardware and software required to implement the function) to support each of the three forms of fault tolerance. Note that if multiple microprocessors are used, they still may use the same software. Furthermore, assume that the company is planning to sell 100,000 units.
Answer and Explanation:
Please find attached answer and explanation
Consider an espresso stand with a single barista. Customers arrive to the stand at the rate of 28 per hour. Service rate is 35 customers per hour. On average, each customer purchase $4.25. On average, how many minutes will a customer spend waiting in line
Answer:
6.86 minute
Explanation:
The arrival rate λ= 28
The service rate μ = 35
Average time a customer spends in the line for service is:
Wq = ( λ / μ(μ-λ)
Wq = ( 28 / 35 (35 - 28))
Wq = ( 28 / 35 (7))
Wq = ( 28 / 245)
Wq = 0.11429 hours
Wq = 0.11429 hours * 60
Wq = 6.8574 minute
Wq = 6.86 minute
Doing research on the Internet is a _________ skill. (soft skill or hard skill)
Answer:
Doing research on the Internet is a Hard Skill.
Explanation:
It is a Hard skill because it requires knowledge on how to do it. It requires technical knowledge and logic. This differs from Soft Skills because soft skills are skills used in personality. Soft skills include leadership, communication, time Management. Think of it this way, Hard Skills are IQ. And Soft Skills are more EQ.
Hope this helps you! :)