Answer:
$23490
Explanation:
Update the Cash Book by recording the items that appear in the Bank Reconciliation Statement and not in the Cash Book.
Cash Book
Debit :
Balance before adjustments $19,800
Notes receivable and interest $4,880
Totals $24,680
Credit :
Bank charge $100
Dishonored check $1,090
Balance (adjusted) $23,490
Totals $24,680
Sal bought a personal residence for $150,000. He made $150,000 of improvements during the three years he lived in it before he sold it. He sold the home for $750,000 and paid $50,000 in selling expenses, including the broker's commission. On what amount will he pay capital gains tax
Answer: $150,000
Explanation:
It should be noted that when an individual sells a personal residence, there's an exclusion of $250,000 on th capital gains tax.
Therefore, the amount that will be paid for capital gain tax will be:
Sales price = $750,000
Less: Cost price = $150,000
Less: Improvements = $150,000
Less: Selling expenses = $50,000
Less: Exclusion = $250,000
Capital gain tax = $150,000
Based on the above calculation, the capital gain tax is $150,000.
If the number of consumers in the market for good A decreases, what will happen to the equilibrium price and quantity of good A?
a. The equilibrium price and quantity will both decrease.
b. The equilibrium price and quantity will both increase.
c. The equilibrium price will increase and equilibrium quantity will decrease.
d. The equilibrium price will decrease and equilibrium quantity will increase.
Answer:
A, The equilibrium price and quantity will both decrease.
Explanation:
The less consumers the lower the equilibrium price and quantity goes.
Marcia Baker ships orchids and other perishable flowers from her greenhouses near San Francisco to florists thousands of miles away in cities such as New York, Boston, and Philadelphia. Since the flowers must reach the florists as quickly as possible, the best mode of transportation for Marcia to use would be Multiple Choice railroads. trucks. air. ships.
Answer:
air
Explanation:
San Francisco is located on the SouthWest corner of the United States, while other states such as New York, Boston, adn Philadelphia are located on the NorthEast corner of the United States. This means that the ships are not an option since they would have to go all the way around and would be the longest option. Therefore, the best and fastest option would be through air. Since both railroads and trucks are viable but would take much longer than sending the flowers through air.
Expansionary fiscal policy is generally designed to ____________ aggregate demand and thus ____________ real GDP and employment in the economy.
Answer:
increase
increase
Explanation:
Discretionary fiscal policies are deliberate steps taken by the government to stimulate the economy in order to cause the economy to move to full employment and price stability more quickly than it might otherwise.
Discretionary fiscal policies can either be expansionary or contractionary
Expansionary fiscal policy is when the government increases the money supply in the economy either by increasing spending or cutting taxes.
Expansionary fiscal policies increases money supply which increases aggregate demand, as a result output or real GDP increases
Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing spending or increasing taxes
A group of six investors wants to open a new bank. In their application to the Comptroller of the Currency, they discuss that the community they want to do business in has a median income of $55,000, that there are approximately 75,000 homes in the community and that there is approximately $5.6 million in sales generated in the community on any given day. Which decision factor for seeking a new charter are the investors discussing
Answer: The level of economic activity in the community
Explanation:
The decision factor for seeking a new charter that the investors discussing is the level of economic activity in the community. Economic activity refers to the activity regarding the provision, purchase and sale of goods or services in an economy.
Since the investors discuss that the community has a median income of $55,000, has 75,000 homes and that there is approximately $5.6 million in sales generated in the community on any given day, then they're discussing about the level of economic activity in the community.
Jane has been having problems with redness and a rash on her face. She discussed her condition with a friend who recommended her dermatologist. Jane called and made an appointment with the dermatologist and was seen the following week with great success. Upon receiving her explanation of benefits from in insurance provider, Jane was surprised to see that see owed more money than her normal copay for the dermatology visit. Identify the reason why Jane owes more for this visit.
Answer:
because the dermatologist sees the results
After his company announced that it plans to cut 30% of the workforce within the next 90 days, Deon begins to experience chronic headaches and insomnia. These symptoms are signs of ______ strain.
Answer:
physiological
Explanation:
From the question we are informed about an instance whereby, After his company announced that it plans to cut 30% of the workforce within the next 90 days, Deon begins to experience chronic headaches and insomnia. These symptoms are signs of physiological strain.
physiological strain can be regarded as one that contains of at least two stressors, these stressors can be inform of pulling an individual in different directions or pushing in different directions. It is possible for someone to have numerous stresses experience but not numerous strains. Strain can as well be regarded as excessive exertion, it can be undue extension of muscles.
.
5. The demand for professional education is increasing these days. Put your views to support the
statement.
Answer:
Professional education helps to rectify the errors in business
Explanation:
Michelle, The CEO of Nariko Jets, an airlines company, stated that she owes the credit of her professional success to the time she spent as a volunteer at a homeless shelter and her passion for artwork. She said that she learned to never stop dreaming from her work as a volunteer. Nariko Jets, according to Michelle, was the result of her combined efforts at life lessons that she learnt at the homeless shelter and her paintings which provided her inspiration to help create passenger and jet airlines that would make travel easier and more comfortable. Her competitors have always envied her success. Which of the following factors of inimitability is best reflected in this scenario?
A. First-mover advantage
B. Positive network externalities
C. Casual ambiguity
D. Tacit knowledge
Answer:
The correct answer is the option C: Casual ambiguity.
Explanation:
To begin with, in the field of business the concept known as "Casual Ambiguity" refers specifically to the situation where the competitors of a company do not understand how the inputs are combined in order to form the outputs due to the fact that they believe that there are several more factors that are not tangible that are affecting the production and that is why that the outputs end up being better products and more complicate it to understand. That is the case presented where the casual ambiguity is related to the life lessons and efforts that Michelle has done during his volunteer time.
Answer: C. Casual ambiguity
Explanation:
Inimitability refers to having qualities that cannot be so easily copied. In business, it gives rise to a competitive advantage that sets you apart from others.
One reason for inimitability is casual ambiguity. This refers to when the background of a company does not seem to correlate with or explain how the company in question, came to be successful. This ensures that other companies are unable to understand what they are to do to become as successful as those companies.
It is the case here. Competitors are unable to understand how paintings and growing up in an orphanage are helping Michelle so they cannot copy her strategy.
Professional athletes often have contract clauses prohibiting risky activities such as skiing and motorcycle riding. These clauses are
Answer:
Restrictive covenants
Explanation:
A restrictive convenants are legally binding agreements that prevents a person from performing a specific action.
So the person that enters into a restrictive convenant has agreed to abide by the contract and not engage in certain actions.
When professional athletes have contract clauses that prevents them from doing risky activities such as skiing and motorcycle riding, this is an example of restrictive convenant.
In the ________________ economies, history, culture, and past actions determine the answers to the three economic questions. Group of answer choices
Answer:
Traditional.
Explanation:
Traditional economy is an economic system in which traditions and customs determine the practice of using limited resources. It is the oldest economic system of the world. In a traditional economy, land and capital are in common ownership, and the main economic problems of society - what, how and for whom to produce - are solved mainly on the basis of traditional tribal or semi-feudal hierarchical relations between people. This type of economy has survived in underdeveloped and industrially developing countries, in which socioeconomic stagnation is pronounced, society seeks to maintain the status quo.
A manufacturing firm produces goods in accordance with customer specifications, commencing production upon receipt of a purchase order. To accumulate the cost of each order, the company would use a:
Answer:
Job Cost Card/ Record
Explanation:
A Job cost record accounts for all costs related to the job or order. It is unique to specific order. Therefore, this is a useful tool to deal with situations where firms produce in accordance with customer specifications.
Why would a producer conduct a marginal analysis?
A. To understand the type of taxes paid on a good or service
B. To determine whether a price increase will change what a
consumer will buy
C. To predict the amount of environmental pollution caused by a
manufacturer
D. To suggest a way to package a product so that it causes less
pollution
E
Answer:
B to determine whether a price increase
Explanation:
cuz I said
How do debt repayment and structural adjustment terms hamper economic development? A. Only wealthy nations need to repay their debts, so it slows their progress. B. This is no longer a problem because debt repayment was completely erased after World War II. C. Both measures rob a developing nation of money it could use to invest in social welfare improvements. D. They always penalize highly developed nations rather than underdeveloped ones. Please select the best answer from the choices provided. A B C D
Answer:
c
Explanation:
Accounts receivable, equipment, the building itself, and the land on which the building stands are examples of:
Answer: Assets
Explanation:
Assets are something that a business owns that is able to bring in money or is a store of value.
All the above mentioned items are considered assets as they fit this description.
Accounts receivable is a current asset which means it has a duration of a period or less.
Equipment, building and land are all fixed assets as they have a duration of more than one period.
If company XYZ observes a drop in performance following a human resource management decision to eliminate a Friday free lunch for the employees, then this would be an example of a lack of ______ to perform.
Answer:
Motivation
Explanation:
The drop in performance in company XYZ following the elimination of the Friday free lunch is caused by the lack of motivation.
Employees of an organization tends to be more productive given a favourable working condition such as subsidized health care, provision of housing facilities, bonuses etc
The free Friday lunch which the human resource management eliminated is a form of motivation for the employees to work hard. So, productivity declined due to the elimination of the free Friday lunch.
Determine which of the items below would show up on a monthly bank statement. (Check all that apply.)
Checks and other debits decreasing the account during the period
Deposits and other credits increasing the account during the period
Checks that the company has written, but have not cleared the bank yet
Beginning-of-period balance in the account
End-of-period balance in the account
Checks and other credits decreasing the account during the period
Answer:
Deposits and other credits increasing the account during the period.
End-of-period balance in the account.
Beginning-of-period balance in the account.
Checks and other debits decreasing the account during the period.
Explanation:
A bank's monthly statement may be described as document showing transaction details which occurred on a bank account during a specified period of time. The monthly statement will include balance or amount in the account at the beginning of the period. The record of deposits and inflow of funds or credits in the account. The monthly statement will also include outflow, which are withdrawals and debits occurring on the account at the specified period of time. Also, the statement will include the balance at the end of the specified period of time.
Answer:
beginning of period balance in account
End of period balance in account
Withdraws and other decreases to the account during the period
Deposits and other increases to the account durning the period
Pine Company provides for doubtful accounts expense at the rate of 2% of credit sales. The following data are available for 20X4: Allowance for doubtful accounts, 1/1/X4 $18,000 Accounts written off as uncollectible during 20X4 $20,000 Collection of accounts written off in prior years (customer credit was reestablished) $5,000 Credit sales year ended 12/31/X4 $1,500,000 The allowance for doubtful accounts balance at December 31, 20X4, should be
Answer:
the allowance for doubtful account balance is $28,000
Explanation:
The computation of the allowance for doubtful account balance is given below:
Allowance for Doubtful Doubts Balance
= Beg Balance + Bad Debt Expense - Accounts written off
= $18,000 + (2% of $1,500,000) - $20,000
= $18,000 + $30,000 - $20,000
= $28,000
hence, the allowance for doubtful account balance is $28,000
Jack is conducting a risk assessment for his firm and is evaluating the risks associated with a flood inundating the firm’s data center. Consulting FEMA maps, he determines that the data center is located in a 100-year flood plain. He estimates that a flood would cause $5M of damage to his $40M facility. What is the annualized loss expectancy? Group of answer choices $5,000,000 $500,000,000 $50,000 $500,000
Answer: $500,000
Explanation:
Firstly, we should note that the annualized loss expectancy will be 10% of the estimated damage.
Since we are informed that Jack estimated that a flood would cause $5M of damage to his $40M facility, then the annualized loss expectancy will be:
= 10% × $5 million
= $500,000
ith respect to the write-off of an uncollectible account receivable against the Allowance for Bad Debts account, a sound system of internal control would require: Multiple Choice an investigation of why credit was extended to this customer in the first place. a lawsuit to be initiated to recover the uncollectible amount. the write-off to be made within six months after the date of sale. the write-off be approved by two employees.
Answer:
The write-off to be approved by two employees
Explanation:
Allowance Method
This method is capitalizes on matching principle. The key work is to record bad debts expense in the same period as the sales revenue.
Direct Write-off Method
This is simply known as when an accounts receivable are written off and bad debts expense is recorded when the company determines that it will not be able to collect from a specific customer.
Method used
Record bad debts expense and reduce accounts receivable
Debit: Bad Debts Expense
Credit: Accounts Receivable
Recovery method
Step 1: Reverse earlier write off
Debit: Accounts Receivable
Credit: Bad Debts Expense
Allowance For Bad Debts Account
It is usually in a contra asset account, in relation to accounts receivable, that holds the estimated amount of uncollectible accounts. The account is said to limits the asset receivable in anticipation of uncollectible debts.
2. One advantage of buying a used car is __________. A. a more extensive warranty B. better fuel economy C. lower insurance rates
Answer:
C. lower insurance rates
f prices are inflexible, then a negative demand shock will lead to Group of answer choices a short-run decrease in prices. no change in prices a short-run increase in real GDP. a short-run decrease in real GDP.
Answer:
A short-run decrease in real GDP.
Explanation:
A short-run decrease in real GDP.
The last option is correct because the prices are inflexible which means an increase or decrease in quantity will have no effect on the prices. So, the negative demand shock( means a sudden decrease in quantity) will not affect the price but it will decrease the real GDP because the demand curve will shift leftwards.
The buyer is assuming a mortgage presently on the property in the amount of $110,000. What is the adjustment made at closing
Answer:
debit seller 110k
credit buyer 110k
Explanation:
The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. This division is considered a(n): Multiple choice question. cost center investment center profit center asset center
Answer:
investment center
Explanation:
From the question we are informed about The manager of a certain division at Alpha Manufacturing who evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits. This division is considered a investment center. Investment center can be regarded as business unit in a particular organization , which is able to utilize capital in contributing directly to a profitability of the organization. Organization can evaluate the performance of an investment center by consideration of revenues it generate as regards investments.
The manager of a certain division at Alpha Manufacturing is evaluated on how efficiently the division uses equipment, buildings, and other assets to generate profits which are known as an investment center.
What is an investment center?
The investment center has the responsibility to manage the business funds and capital in a manner that creates huge profit revenues. The center monitors and controls the expenses, revenues, and assets of the business.
Therefore, it has to ensure that all resources are being optimized and are allocated effectively to generate profits.
Learn more about business divisions here:
https://brainly.com/question/1196005
Fashion Mart Corp., a clothing company, offers the best quality material made using the finest threads and advanced textile machinery. It offers an extended product guarantee to its customers, something that its competitors have found difficult to achieve. This guarantee claims that the clothes that Fashion Mart creates will not wear out even after 200 washes. This guarantee has helped Fashion Mart to retain its loyal customer base and to frequently get new customers. This scenario best illustrates ________.
Answer:
a differentiation advantage
Explanation:
This scenario best illustrates a differentiation advantage. This is basically when a company is able to offer a product that, despite being the same as the competitor's product, is slightly different or offers something that the competitors do not. This small difference is what attracts the customers and increases profits. In this case, Fashion Mart Corp is differentiating their product by providing a guarantee of quality, which the competitors offering similar products cannot offer.
Combining data from multiple sources in an effort to find obscure hidden connections that might help identify criminals or terrorists is known as: Group of answer choices Nonobvious relationship awareness Behavioral Targeting Internet Marketing Profiling.
Answer:
Nonobvious relationship
Explanation:
Cyber security can be defined as a preventive practice of protecting computers, software programs, electronic devices, networks, servers and data from potential theft, attack, damage, or unauthorized access by using a body of technology, frameworks, processes and network engineers.
A nonobvious relationship can be defined as a process which typically involves combining data obtained or generated from multiple sources so as to help an individual and business detect hidden (obscure) connections that could help identify and unravel unscrupulous elements such as hackers, criminals or terrorists.
Just like its name, a nonobvious relationship exists between member nations or groups and it may not be exposed to nonmembers.
HP has launched a new laptop computer with a bigger monitor and keyboard with larger letters. The company uses this model to target senior communities. The company targets 13 cities in the United States with high populations of seniors. This scenario exemplifies which type of market segmentation
Answer:
Geodemographic segmentation
Explanation:
Dividing potential customers into groups based on their lifestyles
As the barriers to the free flow of goods, services, and capital fell during the 1970s, one motivation for foreign direct investment by non-U.S. firms was the desire to
Answer:
move production activities to more desirable locations.
Explanation:
If there is the barrier with regard to the flow of goods and services that can be moved in freely also the capital decline at the time of 1970s so the motivation made for foreign direct investment should be that they shifted to the production activities in order to have desirable locations
So as per the given situation, the above statement should be considered
What is the name given to a management structure in which the line managers are provided with specialists? Please select the most specific answer
Answer:
Line and staff structure
Explanation:
Line and staff structure is an organisational structure where we have line managers that set up goals and directives that are now executed by staff assigned to the line managers.
This is usually used in large organisations and is aimed maintaining managerial authority.
A breakdown of this structure is:
- Line function is the core directive of a manager according to his own departmental goals.
- Staff function is one that supports the line manager with specialised advisory and support functions.
With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. What phenomenon is Micah's company experiencing
Answer:
big data
Explanation:
From the question we are informed about an instance whereby With the advent of cloud storage and other online storage tools, Micah's company is now able to save all the data it collects from internal sources, external sources, and marketing research studies. The company wasn't able to store all of this with its former database management system. In this case, the phenomenon Micah's company is experiencing is big data.
Big data can be regarded as phenomenon involving exponential growth of business data which is attributed to the 21st-century as well as the challenges that is been associated with with it, these could be storage, management as well as holistic collection and analysis of series of data for the owner of the business.