Answer:
NET INCOME
Explanation:
as you re measure each transaction, the difference, gain or loss, flows through income statement as a foreign currency transaction adjustment.
ABC Co. purchased merchandise on August 5 at a $1,000 invoice price with terms of 2/10,n/30 and paid for the merchandise on August 14. Determine its entry to record this purchase and the subsequent payment under both the gross method and the net method by matching the action on the left with the method on the right. (Assume a perpetual inventory system.)
Answer:
Credit Cash for $980 on August 14: Both methods
Debit Merchandise lnventoty for $980 on August 5: Net method
Credit Merchandise Inventory for $20 on August 14: Gross method
Debit Discounts Lost for $20 on August 14: Neither method
Explanation:
To Determine the entry to record this PURCHASE AND THE SUBSEQUENT PAYMENT under both the GROSS METHOD and the NET METHOD by matching the action on the left with the method on the right using a perpetual inventory system
Credit Cash for $980 on August 14: BOTH METHODS
(98%*$1,000)
Debit Merchandise lnventoty for $980 on August 5: NET METHOD
(98%*$1,000)
Credit Merchandise Inventory for $20 on August 14: GROSS METHOD
(2%*$1,000)
Debit Discounts Lost for $20 on August 14: NEITHER METHOD
(2%*$1,000)
om recently received 2,180 shares of restricted stock from his employer, Independence Corporation, when the share price was $10 per share. Tom's restricted shares vested three years later when the market price was $14. Tom held the shares for a little more than a year and sold them when the market price was $12. What is the amount of Tom's income or loss on the sale
Answer:
the amount of loss on the sale is $4,360
Explanation:
the computation of the amount of Tom's income or loss on the sale is shown below:
= 2,180 shares ×$12 - 2,180 shares × $14
= $26,160 - $30,520
= $4,360
Hence, the amount of loss on the sale is $4,360
The same should be relevant
______ involves building relationships and sharing information with colleagues who can help managers achieve the items on their agendas.
Answer:
networking
Explanation:
Networking can be understood as a network of relationships that an individual builds through their professional life, and which can be very beneficial for sharing information and communications relevant to the business, as well as other professional issues, such as aiming for a new job vacancy, achieve professional promotion, etc.
Building a positive relationship with co-workers will always be beneficial in a worker's life, because through interpersonal relationships you can become a reference through your professional achievements, which can open doors and bring prominence to your career.
At January 1, 2014, Alligator Industries reported retained earnings of $130,000. During 2014, Alligator had a net loss of $30,000 and paid dividends of $15,000. At December 31, 2014, the amount of retained earnings is
Answer:
the ending retained earning balance is $85,000
Explanation:
The computation of the ending retained earning balance is shown below:
= Opening retained earnings - net loss - dividend paid
= $130,000 - $30,000 - $15,000
= $85,000
Hence, the ending retained earning balance is $85,000
The same should be considered and relevant
A low-cost leader can translate its low-cost advantage over its rivals into superior profit performance by
Answer:
either using its low-cost edge to underprice competitors and attract price sensitive buyers in large enough numbers to increase total profits or refraining from price-cutting and using the low-cost advantage to earn a bigger profit margin on each unit sold.
Explanation:
Competitive advantage is the edge that a firm has over others in the same industry that results in higher profit margins for them.
One of the importance competitive advantages is price advantage.
This results from the firm being a low cost leader. Their cost of production is low enough for them to attract customers that are price sensitive leading to increased profits.
Also they can underprice their competitors or earn profit margins on the reduced cost of production per unit
Answer:
The low-cost leader can try to underprice the rest of the competition in order to attract more customers. Lower prices should increase total sales volume which will help to increase profits by offsetting fixed costs and increasing the total contribution margin. This strategy can be used as long as the firm is able to produce under economies of scale.
Explanation:
Today's most successful companies are including _____ directly in the product and service development process.
Answer:
Today's most successful companies are including customers directly in the product and service development process.
As a recent college graduate, Jonah started working for an export trading company. His job has already taken him around the globe, including Asia on several occasions. He was amazed to see the difference in working conditions in the developing nations he visited, as opposed to similar operations in the United States. The expectations of workers were not the same. Jonah's experience is an example o
Answer: social responsibility differences between similar firms, but in different countries.
Explanation:
From the information given, we can deduce that Jonah's experience is an example of social responsibility differences between similar firms, but in different countries.
The difference in working conditions in the developing nations he visited, is due to the social responsibility as this has resulted in a positive impact on the society as whole.
A _____ is composed of temporary arrangements among members that can be assembled and reassembled to meet a changing competitive environment.
Answer:
Modular network
Explanation:
Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.
This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.
In conclusion, competitive advantage is a feature that makes a customer to place a greater value on the product or service of a particular company than they do on similar products or services from its competitors (rivals) in the same industry.
In Business management, a modular network comprises of temporary arrangements among members that can be assembled and reassembled to meet the unending consumer demands and changing competitive environment. Thus, it avails businesses the opportunity to either assemble or reassemble parts depending on the work in process.
Monetarists argue that the Federal Reserve System should
A. institute a prescribed rate of growth in the money supply.
B. self-correction is less effective than activist monetary policy.
C. policymakers should use monetary policy rather than fiscal policy to stabilize the economy.
D. since velocity is unstable, a fixed annual increase in the money supply will exacerbate inflation in the long run.
Answer:
C. policymakers should use monetary policy rather than fiscal policy to stabilize the economy.
Explanation:
Monetarists argue that the Federal Reserve System should "use monetary policy rather than fiscal policy to stabilize the economy."
According to monetarists, a monetary policy is a policy that involves the regulation or control of money supply, including the rate of interest such that it regulates the microeconomic of a nation. Hence, Monetarists argue that the Federal Reserve System should "use monetary policy rather than fiscal policy to stabilize the economy, " because it helps in the control of inflation, consumption, development, and cash flow.
what is the meaning of code of conduct in profeession??
Answer:
Professional codes of conduct draw on these professional ethical principles as the basis for prescribing required standards of behaviour for members of a profession. They also seek to set out the expectations that the profession and society have of its members.
The blurring of lines between the state and a special interest group in which a close alliance develops is called
Answer:
a. co-optation
Explanation:
Co-optation means the things could be taken out or are considered for the new or the different motive
Since the lines are burried and lies between the state and the special interest group in which the close alliance are created so this is we called as the co-optation
Therefore the same should be considered
Solve the exponential equation by taking the logarithm on both sides. 5^(x+8)=7
x = (log₅7) - 8
Explanation:Given;
[tex]5^{x+8}[/tex] = 7
Take log of both sides;
log₁₀([tex]5^{x+8}[/tex]) = log₁₀7 -------------(ii)
From the laws of logarithm remember that;
logₐ xⁿ = n logₐ x
Equation (ii) can then be written as;
(x + 8)log₁₀5 = log₁₀7
Divide both sides by log₁₀5
(x + 8) = [tex]\frac{log_{10}7}{log_{10}5}[/tex] -----------(iii)
From the laws of logarithm, remember that;
[tex]\frac{log_{a}x}{log_{a}y} = log_yx[/tex]
Equation (iii) can thus be written as;
(x + 8) = log₅7
x + 8 = log₅7
Make x subject of the formula;
x = (log₅7) - 8
Sun Petroleum Corp. recently moved its operations from Galveston, Texas, to Somalia. The decision to move was the result of new federal regulations regarding clean air standards that all petroleum corporations are subjected to. A critic of globalization would say this example demonstrates what concern
Answer:
Facilities in advanced nations are moving to less developed countries that have lower environmental regulations.
Explanation:
The move from Texas to Somalia seem to be one which aimed at allowing the company to operate under less strict regulations especially legislations regarding environmental pollution and degradation owing to ozone layer depletion and climate change resulting from high carbon emission. Petroleum processing generates a lot of carbon and strict federal regulations have been established in other to control emission in most developed countries such as Texas where Sum petroleum operates. Therefore Sun petroleum's move to Somalia will be seen as one which is aided by the company's desire to operate under less strict environmental guidelines.
Marigold Corp.'s accounting records reflect the following inventories: Dec. 31, 2017 Dec. 31, 2016 Raw materials inventory $320000 $260000 Work in process inventory 300000 160000 Finished goods inventory 190000 150000 During 2017, $830000 of raw materials were purchased, direct labor costs amounted to $670000, and manufacturing overhead incurred was $640000. The total raw materials available for use during 2017 for Marigold Corp. is
Answer:
Raw material available for use= $1,150,000
Explanation:
Giving the following information:
Beginning Raw materials inventory= $320,000
Raw material purchased= $830,000
To calculate the raw material available for use, we need to use the following formula:
Raw material available for use= Beginning Raw materials inventory + Raw material purchased
Raw material available for use= 320,000 + 830,000
Raw material available for use= $1,150,000
If a lender makes a consumer home loan in violation of the law, the borrower may bring an action within _____ years after the date the violation occurred.
Answer:
This chapter may be cited as the "South Carolina High-Cost and Consumer Home Loans Act".
HISTORY: 2003 Act No. 42, Section 1, eff January 1, 2004, and applying to loans for which the loan applications were taken on or after that date.
Smartphone sales have stagnated in developed countries, but they continue to experience high growth in emerging economies. Which aspect of the industry does this trend reflect
Answer:
Open innovation
Explanation:
In a bid to drive growth and revenue, organizations and develop products which are customer friendly and centric, company's may decide not to rely on internal expertise or ideas within its own staff or designers, such that they seek external resources in a bid to mould their product offering in a systematic manner. These idea of seeking external knowledge or opinion in other to develop consumer products is called open innovation. It is a major trend which could be used to explain the push and increase in smartphone sales in developing economies as the companies tries to move in line with the current status.
If the quantity of financial capital supplied is equal to the quantity of financial capital demanded then, the national savings and investment identity is written as (M - X) - S
Answer:
False
Explanation:
If the quantity of financial capital supplied is equal to the quantity of financial capital demanded then, the national savings and investment identity is written as S + (M - X) = I + (G - T)
Where S = Private sector saving.
I= Private sector investment.
G= Government spending.
T=Government income, i.e. tax.
X =Exports.
M=Imports.
If the balance of the cash account is $80,800 at the end of the month, what was the cash balance at the beginning of the month
Answer:
$38,900
Explanation:
Missing word "During the month, Warwick co, received $332,800 in cash and paid out $280,900 in cash"
Particulars Amount
Cash balance at month end $80,800
Add: Cash paid out $280,900
Less: Cash received $322,800
Beginning cash balance $38,900
Most auditors believe that financial statements are "presented fairly" when the statements are in accordance with GAAP, and that it is also necessary to Group of answer choices determine that they are not in violation of FASB statements. assure investors that net income reported this year will be exceeded in the future. examine the substance of transactions and balances for possible misinformation. review the statements using the accounting principles promulgated by the SEC.
Answer:
examine the substance of transactions and balances for possible misinformation.
Explanation:
Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP).
Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.
An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.
Most auditors are of the opinion that financial statements are "presented fairly" when the statements are in accordance with Generally Accepted Accounting Principles (GAAP).
Additionally, most auditors believe that it is necessary to examine the substance of transactions to determine whether or not they are authentic or genuine and check the balances for possible misinformation.
A seller entered a contract with a buyer under which the buyer agreed to purchase certain corporate securities for $500,000. The buyer refused to go through with the purchase, contending that the entire transaction was void because of federal securities statutes. The seller thus sold the securities to another party but was able to sell them for only $420,000. The seller filed an action against the buyer in federal district court, alleging that the transaction did not violate federal securities statutes and seeking $80,000 for the buyer's breach of contract. The seller and the buyer are both citizens of the same state. Does the federal court have subject matter jurisdiction over the action
Answer:
Yes. The federal court has subject matter jurisdiction over the action because it is based on a federal statute.
Explanation:
While the state court will always have subject matter jurisdiction over most cases involving citizens of the same state, the statute under contention is a federal statute, and the defendant is claiming that the transaction violated some federal securities statutes. Moreover, the amount that the plaintiff is asking for is more than $75,000. As it is, the federal court has subject matter jurisdiction to hear the case.
A fashion academy in Chicago promoted its products by collaborating with various film companies and allowing them to use its clothing and jewelry in the films. The academy also associated with television shows in which fashion is one of the attracting elements for the viewers. Which term best describes the action of the fashion academy
Answer:
Product placement
Explanation:
From the question we are informed about fashion academy in Chicago which promoted its products by collaborating with various film companies and allowing them to use its clothing and jewelry in the films. The academy also associated with television shows in which fashion is one of the attracting elements for the viewers. In this case, the best describes the action of the fashion academy is Product placement.
Product placement can be regarded as form of advertising whereby branded goods/services are been featured in a production with a large targets audience. Often, this product placement is been regarded as "embedded marketing". The product placements could be typically found in television shows as well as movies. companies may give payment in terms of cash or goods to production company in exchange for product placement rights.
On September 12, Vander Company sold merchandise in the amount of $9,000 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $5,600. Jepson uses the periodic inventory system and the gross method of accounting for purchases. Jepson pays the invoice on September 18 and takes the appropriate discount. The journal entry that Jepson makes on September 18 is:
Answer and Explanation:
The journal entry is shown below;
Cash $8,820
Purchases discounts (2% of $9,000) $180
To Accounts payable $9,000
(Being cash received is recorded)
here cash is debited as it increased the assets, discount is debited and credited the account payable as it also increased the liability
The economic term that describes the satisfaction that consumers gain from consuming goods and services is
Answer:
utility
Explanation:
Answer:
Utility
Explanation:
I got the answer right on my test
_____________risk is the possible outcome that can occur when an organization or business unsuccessfully addresses its fiscal obligations.
Answer:
Financial Risk
Explanation:
Financial risk is the possibility of a negative consequence if a company or organisation fails to meet its financial commitments.
The chance of making a loss on an invest or business endeavour is referred to as financial risk. Financial risk is a form of threat that might cause interested parties to lose money. For governments, this may entail losing control of financial markets and defaulting on bonds or even other debt obligations.
Menu costs are higher in traditional markets than digital markets. Group of answer choices True False
Answer:
true
Explanation:
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
Shoe leather cost is when people try to spend money immediately so they would not be holding money for a long time. This is because money loses its value in an inflation.
Menu costs are the costs of changing price constantly as a result of inflation, When there is inflation, prices increases regularly. As a result prices needs to be updated regularly.
¿Un producto tiene una EPD de 0,73. Qué podemos decir acerca de la Elasticidad de este producto? Explique.
Answer:
En este caso, EPD tiene un valor de 0,73, siendo menor que 1. Por lo que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio.
Explanation:
La elasticidad precio de la demanda (EPD) indica en qué medida los cambios en el precio alteran la demanda de productos o servicios concretos. En otras palabras, la elasticidad precio de la demanda señala cuánto varía la cantidad demandada de un bien cuando varía su precio.
Se calcula comparando el valor porcentual del cambio en el precio con el del correspondiente cambio en la demanda. Es decir, se define como el cambio porcentual en la cantidad demandada dividido por el cambio porcentual en el precio.
Si la EPD > 1, se dice que la demanda del bien es elástica y la cantidad demandada aumenta (disminuye) en mayor proporción en que baja (sube) el precio. La cantidad demandada aumenta (disminuye) en mayor proporción en que baja (sube) el precio.
Si la EPD < 1, se dice que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio. La demanda de un bien es inelástica cuando la reacción de los consumidores ante un cambio en el precio no es significativa.
Si la EPD = 1, se dice que la demanda del bien tiene elasticidad unitaria y la cantidad demandada aumenta (disminuye) en la misma proporción en que baja (sube) el precio.
En este caso, EPD tiene un valor de 0,73, siendo menor que 1. Por lo que la demanda del bien es inelástica y la cantidad demandada aumenta (disminuye) en menor proporción de lo que baja (sube) el precio.
calculate minimum stock level
Answer:
Formula to determine the minimum stock level
The minimum stock level can be determined by applying the following formula: Minimum Stock Level = Re-order Level – (Normal consumption per day/per week, etc. X Normal delivery time).
1. An open market purchase A. shifts the supply curve for reserves to the right and causes the federal funds rate to fall. B. shifts the demand curve for reserves to the right and causes the federal funds rate to rise. C. shifts the supply curve for reserves to the left and causes the federal funds rate to rise. D. shifts the demand curve for reserves to the left and causes the federal funds rate to fall.
Answer:
The correct answer is option A (shifts the supply curve for reserves to the right and causes the federal funds rate to fall).
Explanation:
Open market purchase Increases the money supply in an economy where government bonds are bought from a bank by the Federal Reserve, this single act makes money available to the bank, which now makes Interest rates fall and raise investment spending. When federal funds rates fall, money supply increases which is a visible characteristic of an open market purchase. Similarly, when the supply curve for reserves shifts to the right, it signifies an open market purchase.
Paul Krugman argues that although strategic trade policy looks unappealing in theory, in practice it is most likely to be workable. True False
Answer: False
Explanation:
The statement that "Paul Krugman argues that although strategic trade policy looks unappealing in theory, in practice it is most likely to be workable" is false.
According to Paul Krugman, a strategic trade policy will be captured by the special-interest groups that are within the economy and this will bring about it's distortion and therefore it's unlikely to be workable.
When Target decides the number and locations of warehouses it needs to build and operate, it is addressing the _______ element of the marketing mix.
Answer:
"Distribution" is the correct answer.
Explanation:
Disseminate such a big amount of the commodity upon the marketplace so that others may acquire the products before purchasing something that, could be defined as Distribution.It also includes the location as well as the configuration of anything inside or between individuals throughout higher dimensions.Thus the above is the correct answer.