Overall, Joy's business had $450,000 in cash collection on accounts receivable during Year 1, which is a great revenue figure for a gutter-clearing business.
Joy's wildly successful gutter-clearing business generated $800,000 in sales revenue during Year 1, of which 75% was on credit. Joy estimated that 2% of these credit sales would ultimately become uncollectible. Therefore, the total revenue generated on credit is $600,000 (75% of $800,000). Joy estimated that 2% of $600,000 would become uncollectible, which is $12,000. To record the bad debt expense, Joy would make the following journal entry:
Dr. Bad Debt Expense $12,000
Cr. Allowance for Doubtful Accounts $12,000
When the former customer tells Joy that he will not be able to pay his $1,344 account because he lost his job, Joy would make the following journal entry:
Dr. Allowance for Doubtful Accounts $1,344
Cr. Accounts Receivable $1,344
A few months later, when the same customer has found a job and pays Joy 50% of the amount he previously owed her, Joy would make two journal entries to record the payment:
First journal entry:
Dr. Cash $672
Cr. Accounts Receivable $672
Second journal entry:
Dr. Allowance for Doubtful Accounts $672
Cr. Accounts Receivable $672
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Engineers and capital equipment manufacturing managers who have been recently laid off because companies are not buying new capital equipment due to an economic downturn (recession) will cause an increase in:
The fact that the engineers and capital equipment managers have been laid off because of the economic downturn will increase cyclical unemployment.
What is cyclical unemployment?This is a type of unemployment that happens when there is a loss of productivity in the economy.
The loss of jobs by these engineers and managers will therefore lead to more cyclical unemployment.
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Engineers and capital equipment manufacturing managers who have been recently laid off because companies are not buying new capital equipment due to an economic downturn (recession) will cause an increase in: Cyclical Unemployment. This is further explained below.
What is Cyclical Unemployment?Generally, Unemployment that is cyclical in nature, such as the sort seen during the current economic downturn, is referred to as cyclical unemployment.
In conclusion, Cyclical unemployment will be caused by engineers and capital equipment production managers who have just been laid off as a result of firms not purchasing new capital equipment as a result of the economic downturn (recession).
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It is important for companies to build cooperative and transparent channel systems for moving goods, supplies, and services. Well-known fast food franchises usually set up __________ distribution systems, where members are bound to cooperate through legal agreements.
It is important for companies to build cooperative and transparent channel systems for moving goods, supplies, and services. Well-known fast food franchises usually set up contractual distribution systems, where members are bound to cooperate through legal agreements.
What is a distribution system?A distribution system can be defined as the channel of distributing goods or product from the manufacturer to end user or from one location to another location.
Hence, Well-known fast food franchises often set up contractual distribution systems in which product distribution are join or combined together by contractual agreement.
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_______ uses skills in mathematics, computer science, and trend analysis to explore multiple, disparate data sources to discover hidden insights that will provide a competitive advantage.
Data scientist.
Data security is protecting digital data from destructive forces, unauthorized users, and unwanted actions such as cyber-attack or data breaches.
A company's CISO is the leader and face of data security in an organization. The person in this role is responsible for creating the policies and strategies to secure data from threats and vulnerabilities and devising the response plan if the worst happens.
Data security is the process of safeguarding digital information throughout its entire life cycle to protect it from corruption, theft, or unauthorized access. It covers everything—hardware, software, storage devices, and user devices; access and administrative controls; and organizations' policies and procedures.
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Commercially prepared baked goods, snack items, and fried foods should be limited because they are rich in?
Commercially prepared baked goods, snack items, and fried foods should be limited because they are rich in omega-3 fat. They are a crucial component of all cell membranes in the body and have an impact on how cell receptors work in those membranes.
They serve as the precursor for the production of hormones that control inflammation, arterial wall contraction and relaxation, and blood clotting. According to the NIH, the FDA has advised against limited exceeding 3 g of combined DHA and EPA intake per day. Because omega-3 reduces the body's inflammatory responses, scientists believe it can reduce immune system activity over time.
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Setting standards, measuring performance, and comparing performance to standards are the:_____.
Setting standards, measuring performance, and comparing performance to standards are the parts of controlling.
Control is a management function that aids in error detection and the implementation of corrective measures. This is done to reduce departure from standards and make that the organization's stated goals are met in the desired way.
Controlling is a management function that aids in obtaining desired results from employees at all organizational levels, including managers and subordinates. The managing function aids in tracking advancement toward corporate objectives, identifies deviations, and suggests necessary remedial action.
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If an investor strongly believes that the stock market is going to have a sharp decline shortly, he or she could maximize profit by a. short selling stock-index futures contracts. b. hedging current short positions. c. using stock-index futures to straddle the market. d. buying stock-index futures contracts.
The correct explanation is option (a), "short selling stock-index futures contracts".
What is short selling stock-index futures contracts?When you buy a futures contract to "short sell," you are doing so with the intention of selling it later at a lower (ideally) price. Unlike the stock market, there is no requirement for financing.
The working of short selling stock-index future contracts is-
The concept is to obtain anything you don't already own on loan, sell it, and then return it. Even though you will now receive the funds, you still owe the money you borrowed. You eventually have to return it. You make money if you can later purchase it for a lower price.The future contract can be shorted by-
By locking in a price through the directional hedge known as shorting the basis, any asset price changes are effectively eliminated until the futures contract expires. When shorting the basis, a long hedger prefers a narrowing in the basis.To know more about the futures in contract, here
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Read the chart. In 2017, the government spent the least amount of money on which discretionary spending category
In 2017, the government spent the least amount of money on: Health and Human Services Department.
What is government spending?Government spending can be defined as the amount of money government spent to purchase or acquire goods and services or provide services to the people.
Hence, in the year 2017 the government spent the least amount of money on Health and Human Services Department discretionary spending category compare to others department.
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Answer: Health and Human Services Department
Explanation:
Only $74 billion were spent which is 1.8%, this is the least amount of money spent in the graph.
The income effect of a wage increase is observed when:
The income effect of a wage increase is observed when Leisure's higher opportunity cost causes workers to take more leisure and work less.
The higher wage income causes workers to take more leisure and work less. The higher wage income causes workers to take less leisure and work more.
The income effect is the alternative to the intake of goods primarily based on profits. This means clients will generally spend greater in the event that they revel in an increase in income. they'll spend much less if their income drops.
By using evaluation, the effect of the profit refers to how to call for increases as a result of better tiers of disposable profits. As an instance, Starbucks may additionally reduce its charges by 20 percent, which gives existing consumers a higher degree of disposable profits as they're now not spending as a great deal.
The income impact states that when the price of a great decrease, it is as if the buyer of the best's earnings went up. The substitution effect states that after the rate of an amazing decrease, clients will alternative far from goods that are surprisingly more costly to the cheaper good.
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Suppose Stuart Company has the following results related to cash flows for 2021: Net Income of $5,600,000 Increase in Accounts Payable of $600,000 Decrease in Accounts Receivable of $900,000 Depreciation of $1,900,000 Increase in Inventory of $200,000 Other Adjustments from Operating Activities of -$800,000 Assuming no other cash flow adjustments than those listed above, create a statement of cash flows with amounts in thousands. What is the Net Cash Flow from Operating Activities
1. The statement of cash flows of Stuart Company for the year ended December 31, 2021, is as follows:
Stuart Company
Statement of Cash FlowsFor the year ended December 31, 2021, $'000
Net Income $5,600
Depreciation 1,900
Other Adjustments (800)
Increase in Accounts Payable 600
Decrease in Accounts Receivable 900
Increase in Inventory (200)
Net Cash Flow from Operating Activities $8,000
2. The Net Cash Flow from Operating Activities for Stuart Company for 2021 is $8 million.
What are operating activities' cash flows?The cash flows from the operating activities section affect revenues and expenses.
They indicate the cash flows that originate from the regular business activities of the entity.
To prepare the statement of cash flows, the first items to adjust the net income are the non-cash expenses and losses and revenues and gains.
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Suire Corporation is considering dropping product D14E. Data from the company's accounting system appear below: Sales $ 640,000
Variable expenses $ 270,000 Fixed manufacturing expenses $ 240,000 Fixed selling and administrative expenses $ 188,000 All fixed expenses of the company are fully allocated to products in the company's accounting system. Further investigation has revealed that $194,500 of the fixed manufacturing expenses and $109,500 of the fixed selling and administrative expenses are avoidable if product D14E is discontinued.
Required: a. According to the company's accounting system, what is the net operating income earned by product D14E?
b. What would be the financial advantage (disadvantage) of dropping product D14E? Should the product be dropped?
The net operating income that has been earned according to the accounting system is a loss of $58000, while the financial disadvantage is given as -$66000
How to solve for the particularsNet operating income: This is by
sales - variable expenses - fixed manufacturing - fixed selling and administrative expenses
640000 - 270000 - 240000 - 188000
= The net income is a loss of 58000
How to solve for the financial disadvantageThis has to do with the difficulty to pay for something without having to incur serious challenges.
290000 - 194500
= 45500
188000 - 109000
= 78500
45500 + 78500 = 124000
Financial disadvantage = 58000 - 124000
= -$66000
If it is dropped what is going to be incurred would be 66000 dollars hence it is advised that it should not be dropped.
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If business risk decreases for Megabucks, Inc., the P/E will __________, other things the same. a. increase b. stay the same c. decrease d. increase or decrease but not stay the same
If business risk decreases for Megabucks, Inc., the P/E will option(a) i.e, increase other things the same.
What do you understand by business risk?Business risk is the potential for a firm or organization to have lower earnings or failure. Business risk is anything that compromises a company's capacity to meet its financial objectives. Numerous variables may combine to produce business risk.
Every organization should consider these five forms of business risk as part of their strategy and planning process:
Risks associated with security and fraud, compliance, operations, financial or economic risk, and risk associated with operations.Risk to reputation.Damage from fire, flood, or other natural disasters is a few examples of hazards based on uncertainty. the sudden financial loss brought on by a recession or the failure of another company that owes you money. loss of significant customers or suppliers. reduced market share.
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When considering the benefit of free trade in neighboring countries, one government might favor lowering trade barriers but won't do it because of a lack of Blank______ in the other nation.Multiple choice question.powertrustvaluerights
When considering the benefit of free trade in neighboring countries, one government might favor lowering trade barriers but won't do it because of a lack of B)trust in the other nation.
Alternate boundaries raise the price of products in blanketed industries. If one's products are inputs in other industries, it increases their production charges and then costs, so sales fall in those other industries. Decrease sales result in decreased employment.
Possibly the most not unusual political argument for government intervention is that it's miles essential to protect jobs and industries from unfair overseas opposition. Opposition is most customarily regarded as unfair whilst manufacturers in the exporting USA are sponsored in some way by using their authorities.
Import tariffs lessen the general performance of the arena economy. They lessen performance due to the fact a protective tariff encourages home firms to supply products at domestic that, in idea, may be produced extra correctly abroad.
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Having a large endowment of natural resources is necessary for a country to be highly productive in producing goods and services. True or false?.
The given statement is false.
Why the given statement is false?Yes, large endowment/availability of resources is good and important for the country but measuring a country's productivity is a completely different process. Having the ability to utilize these resources and having ample resources is one thing and actually working and being efficient is one thing.
How is a country's productivity measured?GDP and Gross Domestic Product is the major way of measuring countries' productivity.
The total monetary or market worth of all the completed products and services produced within a nation's boundaries during a certain time period is known as the gross domestic product (GDP). It serves as a thorough assessment of the state of the economy in a particular nation since it is a wide indicator of total domestic production.
Even while GDP is frequently estimated on a yearly basis, it may also be calculated quarterly. For instance, the government of the United States produces an annualized GDP estimate for both the calendar year and each fiscal quarter. Each data set in this report is provided in real terms, which means that it has been adjusted for price changes and is thus net of inflation.
Yes, the endowment of natural resources is a determinant of GDP but is not directly looked at to calculate or measure the Productivity of a country.
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Dwayne blue was pleasantly surprised to find out that within three to five years after expiration of a previous life insurance policy, he can.
Dwayne blue was pleasantly surprised to find out that within three to five years after the expiration of a previous life insurance policy, he can reinstate the policy subject to current qualifications.
What is a life insurance policy?A life insurance policy is a contract between an insurance policy holder and an insurer or assurer in which the insurer agrees to pay an amount of money to a selected beneficiary upon the death of an insured individual. Other occurrences, such as terminal sickness or severe illness, may also trigger payment depending on the contract. Universal life insurance (UL) is classified into three types: indexed universal life insurance (IUL), guaranteed universal life insurance (GUL), and variable universal life insurance (VUL). All of them, like whole life insurance policies, have a monetary value. Your premiums contribute to the cash value as well as the death benefit.
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Your project team reads a guideline that makes recommendations and provides references for the recommendations but provides no information about how the recommendations were produced. Which statement best describes the degree of confidence your team should have in the recommendations
Option C. The guidelines should be judged as having questionable credibility unless the producer provides access to another document or resource regarding the production process.
Property of funding for research or publications must constantly be disclosed. Editors must nation this at once in their editorial insurance. Authors need to automatically embody records approximately studies investment in all papers they prepare for e-books.
Publishing ethics pointers:
claim to your chosen journal that your manuscript isn't published someplace else.declare any conflicts of the hobby.take a look at all co-authors who meet the criteria for authorship and make sure appropriate acknowledgments are made inside the manuscript.encompass appropriate investment statements within the manuscript.Your question is incomplete. Please read below to find the missing content.
Your project team reads a guideline that makes recommendations and provides references for the recommendations, but provides no information about how the recommendations were produced. Which statement best describes the degree of confidence your team should have in the recommendations?
a. If the recommendations are clear, specific, and citations are provided, your project team should have confidence in them.
b. If the recommendations resonate with the views of those in your agency, your project team should have confidence in them.
c. The guidelines should be judged as having questionable credibility unless the producer provides access to another document or resource regarding the production process
d. If the authors indicate that a consensus conference was held to produce the guideline, your project team should have confidence in them.
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In your opinion, should frontier airlines focus on managerial accounting or financial accounting as it works to get its finances back on firm footing?
I would recommend Frontier Airlines to focus more on Managerial accounting as it works to get its finances back on firm footing.
Financial accounting only cares about generating a profit and not the overall system of the company. But, managerial accounting looks for bottleneck operations and examines various ways to enhance profits by eliminating bottleneck issues. So, Frontier Airlines should focus more on Managerial accounting.
Managerial accounting focuses on what it takes to keep a business operating profitably, it tracts and projects revenue and expense. The data collected and the results reported help managers choose what is best for them.
Hence, Frontier Airlines should focus more on Managerial accounting.
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Law of demand is defined as the relationship between price and quantity from a buyer's perspective.
a. true
b. false
It is true that the Law of demand is defined as the relationship between price and quantity from a buyer's perspective
What is law of demand?The law of demand states that that as the price of a good increase, the quantity demanded will fall and as the price of a good falls, the quantity demanded also rise.
Here, consumers tend to buy more goods and services as the price go down or fall, hence more of a product will be purchased at lower prices than at higher prices.
Therefore, the Law of demand is defined as the relationship between price and quantity from a buyer's perspective
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Discuss the stakeholders who need to be involved in the communication plan and why they are significant?
The stakeholders who need to be involved in the communication plan are the sponsors, key managers, leadership or role representatives of the impacted group in the communication plan.
First of all check whether the group is internal or external .Internal stakeholders are those individuals or the groups that are the part of the company's organizational structure and have a huge impact of the change
External stakeholders are those which are not a part of the organizational structure.
Stakeholders are significant to check because they are the key persons who are to be impacted the most and without them there is no use of the communication plan as well.
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Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity:
Date Cash Paid Interest
Expense Increase in
Carrying Value Carrying
Value
01/01/2021 332,789
06/30/2021 17,500 19,967 2,467 335,256
12/31/2021 17,500 20,115 2,615 337,871
06/30/2022 17,500 20,272 2,772 340,643
12/31/2022 17,500 20,439 2,939 343,582
06/30/2023 17,500 20,615 3,115 346,697
12/31/2023 17,500 20,803 3,303 350,000
THA issued the bonds for:_____________
a) $350,000.
b) $332,789.
c) $455,000.
d) Cannot be determined from the given information.
THA issued the bond for $332,789 on the basis of amortization schedule from issuance until maturity given. Bonds are fixed-income securities that reflect loans from investors to borrowers (corporate or governmental).
A bond can be compared to an agreement outlining terms of loan and the associated payments between lender and borrower. The length of time until a bond matures determines how long its owner will continue to receive interest payments. The bond's face value, or par, is returned to the owner when it matures. Maturity of bond plays a significant role in determining how sensitive it is to interest rates.
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Resource pricing is important because:
Resource pricing is important because resource prices are a major determinant of money incomes.
The greater the call for, the higher the charge, and vice versa. when demand is excessive, only the companies willing to pay the fee get the resources, and they will best be able to afford the sources via generating worthwhile products or services that clients are inclined to pay better expenses for.
The pricing of natural resources at stages that reflect their blended economic values and environmental values.
Adjustments in useful resource fees have an effect on the price of manufacturing. A higher price approach higher price and a decreased price method lower the cost. changes in manufacturing fees then affect the prices that dealers are willing to just accept to promote goods and services, which in the end influences the general rate level.
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Based on the data shown below, calculate the correlation coefficient (rounded to three decimal places)
The correlation coefficient of the data is 0.849.
What is the correlation coeffienient?
Correlation is a statistical measure used to measure the linear relationship that exists between two variables.
The closer the correlation coefficient is to 1, the stronger the correlation between the variables. If the correlation coefficient is positive, it means that the variables move in the same direction. if it is negative, it means that the variable move in opposite directions.
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true or false? an advertiser who sells products on amazon could access insights that report on total retail activity for all of their products
An advertiser who sells products on amazon could access insights that report on total retail activity for all of their products. True. It is true that an advertiser has such benefit. Hence, the answer is True.
What is advertising?Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services.
Therefore, the correct answer is as given above
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A _______________ list consists of customers who have made purchases or who have responded to direct mail offers in the past.
A Response List list consists of customers who have made purchases or who have responded to direct mail offers in the past.
Response files: reaction lists (also known as managed lists) are made up of people who have purchased or inquired about particular services or products. traditional reaction list resources are magazines, membership golf equipment, catalogs, assurance cards, and so forth. you can normally get your response list in 3 to 5 business days.
Compiled statistics typically offer basic demographic selects, such as gender, age, geography, and many others, response lists, then again, consist of individuals who've taken some specific action to show hobby in products or services.
A listing that has been comprised of multiple assets such as public records, online registrations, and surveys, direct response, directories, cellphone books, or courtroom facts.
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Hampton Corporation's common stock dividends are expected to grow by 8% per year. Recently, the firm paid a $3.00 common stock dividend. Hampton has a beta of 1.40. The expected return on the S
Using this information and the CAPM, the stock's intrinsic value is $48.36
Expected Return = Risk-Free Rate + Beta * (Market Return-Risk Free Rate)
= 7% + 1.4 * (12.5% -7%)
= 14.7%
Price = Next Year Dividend / (Required Rate of Return-Growth Rate)
= 3 * 1.08 / 14.7% -8%
= 48.36
Stock intrinsic value refers to the basic, objective value contained in a thing, asset, or financial contract. If the market price is below this level, it is a good buy and above a good sell. When valuing a stock, there are several ways to reach a fair valuation of the intrinsic value of the stock.
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Hampton Corporation's common stock dividends are expected to grow by 8% per year. Recently, the firm paid a $3.00 common stock dividend. Hampton has a beta of 1.40. The expected return on the S&P 500 index is 12.5% and the rate of return on U.S. Treasury securities is 7%. Using this information and the CAPM, what is the stock's intrinsic value? a) $72 c) $24 e) $25.92 b) $66.67 d) $48.36
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Explain 2 methods (metrics) of evaluating improvements in employee relations in the city fire department.
The methods of evaluating improvements in employee relations in the city fire department include:
Keeping track of suggestions.Commitment of employees to their work.What is employee relations?It should be noted that employee relations simply means the maintenance of a positive relationship in the workplace.
Here, the methods of evaluating improvements in employee relations in the city fire department are illustrated.
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The three financial ratios that constitute return on revenue are Cost of goods sold/Revenue, Research and Development expense/Revenue, and
The three financial ratios that constitute return on revenue are Cost of goods sold/Revenue, Research and Development expense/Revenue, and Selling, general, & administrative expense/Revenue.
What ism financial ratios?
Financial ratios are instrument used by companies to make comparison or to measure the relationship between different financial statement information or data.
Hence, the three financial ratios that constitute return on revenue are:
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When considering cost-of-living differences between locations, which type of costs stand out?
When considering cost-of-living differences between locations, housing costs stand out.
Housing costs means the compensation or any fees paid or charged. It is paid periodically for the use of any property, land, buildings, or equipment.
For purposes of measuring housing cost, housing costs includes the basic rent charge as well as any periodic or monthly fees for other services paid to the landlord by the tenant.
While considering the housing cost it do not include any utility charges that are based on usage and also the tenant has agreed in the rental agreement to pay, unless and until the obligation to pay those charges has created itself a change in the terms of the rental agreement.
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Airlines that offer lower fares on seats shortly before a flight's departure date to fill empty seats are utilizing---------- which is a form of dynamic pricing.
Airlines that offer lower fares on seats shortly before a flight's departure date to fill empty seats are utilizing dynamic strategy which is a form of dynamic pricing. Real-time pricing, often known as dynamic pricing, is a highly adaptable method of determining a product's or service's price.
Dynamic pricing aims to enable businesses who offer products or services online to quickly modify prices in response to consumer demand. A pricing approach called "dynamic pricing" substitutes variable prices for fixed ones.
The fundamental tenet of the dynamic pricing model is to provide the same product to various customer segments at various costs. According to the number of individuals interested in particular products, dynamic pricing is a means to reflect changes and boost revenue .
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When the elasticity of demand for a product is __________ the elasticity of supply, consumers pay __________ of the tax on the product.
When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.
The way the tax burden is distributed between purchasers and sellers is known as the tax incidence.
The relative price elasticity of supply and demand determines the tax incidence.
Usually, both the producers and the consumers of the taxed goods bear the incidence, or burden, of the tax.
But all we have to do is look at the elasticity of demand and supply to determine which group will be carrying the bulk of the load.
The majority of the tax burden falls on consumers when supply is more elastic than demand.
The majority of the tax burden falls on the producers when demand is more elastic than supply.
The less elastic the demand and supply are, the higher the tax revenue.
Hence, When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.
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Some countries let the foreign exchange market determine the relative value of its currency. this is called a:________
Some countries let the foreign exchange market determine the relative value of its currency this is called a Floating Exchange.
What is the role of Floating exchange?
A floating (or flexible) exchange rate is one that is established by the unrestricted interaction of foreign exchange supply and demand.
The demand curve for foreign currency is dipping downward. The price of imported items in local currency rises in direct proportion to the exchange rate. Lower demand for the foreign commodity and consequently less foreign money result from the higher price.The foreign exchange supply curve is trending higher,
The overseas price of exported commodities decreases when the exchange rate rises, increasing both the demand for them and the supply of foreign exchange being offered in exchange for them.Hence, the correct answer is "Floating Exchange"
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