Answer:
1. March 1, 2021
Dr Cash $678,000
Dr Discount on bonds payable $12,000
Cr Bonds payable $690,000
2. August 31, 2021
Dr Bond interest expense $34,800
Cr Discount on bonds payable $ 300
Cr Cash $34,500
3. December 31, 2021
Dr Bond interest expense $23,200
Cr Discount on bonds payable $200
Cr Bond interest payable $23,000
4. February 28, 2022
Dr Bond interest payable $23,000
Dr Bond interest expense $11,600
Cr Discount on bonds payable $100
Cr Cash $34,500
Explanation:
1. Preparation of the journal entry to record the issuance of the bonds by Stratford Lighting on March 1, 2021
Dr Cash $678,000
Dr Discount on bonds payable $12,000
($690,000-$678,000)
Cr Bonds payable $690,000
(Being to record issuance of the bonds is recorded)
2. Preparation of the journal entry to record interest on August 31, 2021
Dr Bond interest expense $34,800
Cr Discount on bonds payable $ 300 ($12,000/20*6/12 )
Cr Cash $34,500
($690,000 × 10% × 6/12)
(Being to record interest )
3. Preparation of the journal entry to accrue interest on December 31, 2021.
Dr Bond interest expense $23,200
($23,000+$200)
Cr Discount on bonds payable $200
($12,000/20 × 4 /12)
Cr Bond interest payable $23,000
($690,000* 10%× 4/12)
(Being to record accrue interest is recorded)
4. Preparation of the journal entry to record interest on February 28, 2022
Dr Bond interest payable $23,000
($690,000* 10%× 4/12)
Dr Bond interest expense $11,600
[($34,500+$100)-$23,000]
Cr Discount on bonds payable $100
($12,000/20*2/12)
Cr Cash $34,500
($690,000 × 10% × 6/12)
(Being to record interest is recorded)
what is a customer retention?
Answer:
Customer retention refers to a company's ability to turn customers into repeat buyers and prevent them from switching to a competitor. As a performance metric, it indicates whether your product and the quality of your service please your existing customers.
Explanation:
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A company is about to be closed down as it does not possess enough funds to pay for its debts. The business, therefore, places a low value on its inventory. Which concept is the business complying with?
Answer:
The business is complying with the Liquidation concept.
Explanation:
Liquidation in most cases is a concept in business that happens when a company sells off its inventory lower than their cost price because the company is about to be closed down.
It is usually to generate cash within a short period of time to pay off debts or creditors.
Mutual fund A earned 10 percent while B earned 8 percent. The standard deviations of the returns were 10 percent and 7 percent, respectively. According to the Sharpe ratio, which fund performed better?
Answer:
Fund B is better
Explanation:
Given:
Return of fund A = 10 %
Return of fund B = 8 %
Standard deviations of A = 10%
Standard deviations of B = 7%
Find:
Which fund better?
Computation:
Sharpe ratio for A = (10-3)/10
Sharpe ratio for A = 0.7
Sharpe ratio for B = (8-3)/7
Sharpe ratio for B = 0.714
So,
Sharpe ratio for B is higher
Fund B is better
Enter Mia’s total profit/loss for the month may account in the box below
Out of the choices provided above, it can be concluded to state that the total accounting profits for Mel for the month of May as per the financial statements given above will amount to a total of $200. Therefore, the option D holds true.
What is the significance of accounting profits?The accounting profits can be referred to or considered as the profits that lead to a total of surpluses of cash balances and reserves for a particular accounting period. If the amount is not in excess of the expenses, it expresses a condition of an accounting loss for the firm.
In the situation given above, Mel's revenues were $9500, but her expenses were $9000 fixed and $300 variable. So, the accounting profits will be $200, i.e., $9500-($9000+$300)
Therefore, the option D holds true and states regarding the significance of accounting profits.
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The missing options are added below for better reference.
A. -$200
b. $300
c. $500
d. $200
Can someone help me finish these missing assignments for accounting?
The stage in which the sales of a service start to lesson is called the
Answer: decline stage
Explanation:
What is a similarity between a term life insurance policy and a whole life insurance policy?
OA
OB
Both provide coverage for the policyholder's medical and outpatient surgery costs
Both can be held by the policyholder for a minimum of 5 years and a maximum of 25 years,
Both include a cash value component that the policyholder can receive at the end of the policys term,
Both provide financial compensation to the beneficiaries upon the policyholder's death,
Ос. .
OD
A similarity between a term life insurance policy and a whole life insurance policy is that both provide financial compensation to the beneficiaries upon the policyholder's death. The correct option is d.
Term and whole life insurance are two of the most frequent types of life insurance. Whole life insurance is a type of permanent life insurance that lasts as long as you live (provided you pay your premiums). It also includes a cash value account, which is a form of savings account that grows tax-free over time and can be withdrawn or borrowed from while you are living. Term life insurance, on the other hand, is only valid for a set number of years (the term) and has no monetary value.
Term insurance only protects you for a set number of years, whereas whole life insurance protects you for the rest of your life—if you can keep up with the premium payments. Whole life insurance rates might be five to fifteen times higher.
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If someone owes you $100 right now, but they don't pay you for a year, you have lost the opportunity to collect _______________on that money.
Answer:
Interest
Explanation:
Opportunity cost of the money is the Interest that could have been earned on that money has the borrower saved it in the bank. Thus, the missing word here is Interest.
Someone who creates attractive presentations of food dishes for magazines is called which of the following?
a. food stylist
b. research chef
c. personal chef
d. food preparation worker
Answer:A
Explanation:
what is the element of demography
Answer:
Demographics can include any statistical factors that influence population growth or decline, but several parameters are particularly important: population size, density, age structure, fecundity (birth rates), mortality (death rates), and sex ratio (Dodge 2006). We introduce each of these in turn.
Explanation:
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The manufacturing shop is producing custom photo imprinted mouse pads for clients. The startup equipment cost $400. A mouse pad has a production cost of $3. The retail sale is $12.
1). Write a cost function
2). Write a revenue function
3). Give the break-even point
Please help me answer all 3 questions, thanks!
Answer:
[tex]c(x) =400 + 3x[/tex]
[tex]r(x) = 12x[/tex]
[tex]x = 44.44[/tex]
Explanation:
Given
Cost
[tex]Equipment = 400[/tex]
[tex]Production = 3[/tex] per mouse pad
Revenue
[tex]Sales\ Price = 12[/tex]
Solving (a): The cost function
Let the number of mouse pad be x and the cost function be c(x).
[tex]c(x) =Equipment + Production * x[/tex]
[tex]c(x) =400 + 3 * x[/tex]
[tex]c(x) =400 + 3x[/tex]
Solving (b): The revenue function
Represent this with r(x)
[tex]r(x)= Sales\ Price * x[/tex]
[tex]r(x)= 12 * x[/tex]
[tex]r(x)= 12 x[/tex]
Solving (c): The break-even point
This is the point where r(x) = c(x)
So, we have:
[tex]12x = 400 + 3x[/tex]
Collect Like Terms
[tex]-3x+12x = 400[/tex]
[tex]9x = 400[/tex]
Solve for x
[tex]x = \frac{400}{9}[/tex]
[tex]x = 44.44[/tex]
Explain how short-term profitability affects pricing.
Why do you think it is better for the industry to advertise its product through magazine than newspapers.Give two reasons
Answer:
Magazines are more specifically targeting, offer higher scope of sale conversion.
Explanation:
Advertisement is done to persuade people for buying goods & services. It can be of various forms, eg - magazines & newspapers.
Magazines are better than newspapers, as -
Magazines are read by people specifically interested in the particular niche, so they are more likely to be prospective buyers of the product. Newspapers are comparatively less targeted form of advertisement, as they advertise to all the people, irrespective of their scope of interest in the good or service. Magazines are relatively more targeted in this case.Which describes a mixed economy?
(USA Test Prep)
A) It is centrally planned.
B) It is based on patterns from the past.
C) It has elements of several economic systems.
D) It is the free exchange between buyers and sellers.
Answer:
The Answer is C
Explanation:
A mixed economy is basically a mixture of a traditional economy and a market economy. It can also draw from other economic systems.
Answer:
The answer is C. It has elements of several economic systems
Explanation:
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What is service enterprise
Which step of the legislative process is missing?
with answers in screenshot
Enumerate the reasons why there is no universally accepted definition of the term entrepreneur.
Answer:
There is no universal definition of entrepreneurship because it is unique from person to person. ... However a person sees a business venture may or may not be exactly the same as to how somebody else sees it.
Explanation:
In a command economy, decisions about which goods are produced are based on:
A) what goods are most likely to seek in international markets
B) what the government decides is important for society
C) what the local community has made for generations
D) what businesses believe will generate the most profits
Answer:
B)
Explanation:
Answer: B) what the government decides is important for society
For the majority of millennials, the cost of paying off their student loans has wound up holding them back from living on their own, making major purchases like buying home and even being able to start a family…
Trade schools cost a fraction of what public and private schools cost. The average cost of vocational school comes out to around $33,000 – for the entire education. This the average cost of a single year of college.
–"The Financial Case for Trade School Over College," Mel Bondar, US News
According to the text, why is trade school more economical for some students? Select two that apply.
a). The cost of attending trade school is cheaper than the cost of a 4 year college.
b). Trade school graduates make more money than college graduates.
c). The cost of attending a 4 year college is offset by higher earnings in the long run.
d). Students who chose trade school over college often make better financial decisions.
e). Students who graduate from trade school have less debt than college graduates.
Answer:
A) The cost of attending trade school is cheaper than the cost of a 4 year college.
E). Students who graduate from trade school have less debt than college graduates.
Explanation: I just took the test on a virtual course and got it right. Hope this helps :)
Trade school more affordable for some students cost, according to the text A trade school is less expensive to attend than a four-year university. Thus option (a, e) is correct.
What is the cost?A cost is the amount of money that has been spent to produce something or provide a service and is thus no longer accessible for use. In business, the cost could be one of acquisition, in which case the money spent to obtain it is recognized as cost. In this situation, money is the input that is used to purchase the item.
If you set a goal of 5 jars of mayonnaise and only have 2 on hand, you know you need to order 3 more. Private expenses are the costs borne by the buyer of a commodity or service. This is also known as the costs associated with the firm's production function. External costs (also known as externalities) are the costs borne by people other than the buyer.
Therefore, Thus option (a, e) is correct.
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I have a nail salon business - I just recently purchased new pedicure chairs, what type of cost is this?
A. Fixed Cost
B. Variable Cost
Answer:
FIXED COST
Explanation:
I THINK ITS FIXED COST
Explain three features of a bank current account (chequebook account).
Answer:
1). cheque is an instrument in writing
2). Cheque contains an unconditional order
3). Cheque is drawn by costumers on his/ her bank
4) Cheque must be signed by costumers who have account
When you buy stock in the "stock market" what are you buying? Why would you but a stock?
Answer:
A stock is part of a company, you can make money if the stock market goes up.
Explanation:
You see when you buy part of a company if the company profit goes up you make money
Nurix, Inc. is a business consulting firm. During the month of February, Nurix earned $55,600 of revenues by providing services to 47 clients. Operating costs for February were $8,500 and non-operating costs were $6,000. What is the unit cost per service? (Round your answer to the nearest cent.)A. $127.66B. $1,182.98C. $308.51D. $180.85
Answer:
Unitary cost= $308.51
Explanation:
Giving the following information:
Number of services= 47
Operating costs for February were $8,500 and non-operating costs were $6,000.
First, we need to calculate the total cost:
Total cost= 8,500 + 6,000
Total cost= $14,500
Now, the cost per service:
Unitary cost= 14,500/47
Unitary cost= $308.51
Choosing to go to college over getting a job right out of high school is an example of a(n)___.
fixed cost
opportunity cost
Ο Ο Ο
variable cost
O none of the above
What number is 0.1 more than 30.7?
Answer:
30.8
Explanation:
One of the purposes of market segmentation is to determine the best customer for the service or product and then to target that group
through marketing.
True
False
Answer:
true
Explanation:
Budgeting helps consumers reach their financial goals by helping them do which of the following?
A. Find the lowest prices for goods and services
B. Conserve on searce natural resources
C. Keep their expenses below their income
D. Weigh the information needed to make rational decisions
Answer:
C. Keep their expenses below their income
Explanation:
QUESTION 3 / 10 What is the first step you should take when you want to open a savings account? A. Review the different savings account options that your bank offers. B. Make your initial deposit. C. Go to the bank and fill out an application. D. Present your photo ID to the bank representative.
Answer:
A. Review the different savings account options that your bank offers.
What is the first-known example of a corporation issuing stock? In what time period did
this take place
Answer:
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Explanation:
The first modern IPO occurred in March 1602 when the Dutch East India Company offered shares of the company to the public in order to raise capital. The Dutch East India Company (VOC) became the first company in history to issue bonds and shares of stock to the general public.
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1. Variable Costs are also known as ___________
A. Cost of Goods Sold
B. Liabilities
C. Assets
D. Equity
2. The bank purchased a desk for a new employee. What type of cost is the purchase of a new desk?
A. Fixed Cost
B. Variable Cost
3. Today I sold a new 80 inch television. The sale of this item is called________?
A. Unit of Sale
B. Asset
C. Cost of Goods Sold
Answer:
Cost of Goods Sold
variable cost
evality