The two characteristics that must be possessed is transferability and utility.
We can describe "monetary value" as the property of having a material worth and this allows the transfer-ability of an assets.
The amount that is paid in cash for an asset is referred to the monetary value of such asset.Money is one of the measure through which the monetary value on an assets is being exchange for the asset.In conclusion, a monetary value must be transferable to other person and must be able to be used to carry out transaction at any time..
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Exercise 3-14A Prepare an adjusted trial balance (LO3-3, 3-4) Skip to question [The following information applies to the questions displayed below.] The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below. Accounts Debit Credit Cash $ 9,400 Accounts Receivable 14,400 Prepaid Rent 6,480 Supplies 3,400 Deferred Revenue $ 2,400 Common Stock 11,000 Retained Earnings 5,400 Service Revenue 46,880 Salaries Expense 32,000 $ 65,680 $ 65,680 At year-end, the following additional information is available: The balance of Prepaid Rent, $6,480, represents payment on October 31, 2021, for rent from November 1, 2021, to April 30, 2022. The balance of Deferred Revenue, $2,400, represents payment in advance from a customer. By the end of the year, $600 of the services have been provided. An additional $700 in salaries is owed to employees at the end of the year but will not be paid until January 4, 2022. The balance of Supplies, $3,400, represents the amount of office supplies on hand at the beginning of the year of $1,400 plus an additional $2,000 purchased throughout 2021. By the end of 2021, only $740 of supplies remains. Exercise 3-14A Part 2 2. Prepare an adjusted trial balance as of December 31, 2021.
Answer:
Demon Deacons Corporation
Adjusted Trial Balance:
Demon Deacons Corporation is presented below.
Accounts Debit Credit
Cash $ 9,400
Accounts Receivable 14,400
Prepaid Rent 4,320
Supplies 740
Deferred Revenue $ 1,800
Salaries Payable 700
Common Stock 11,000
Retained Earnings 5,400
Service Revenue 47,480
Salaries Expense 32,700
Rent Expense 2,160
Supplies Expense 2,660
$ 66,380 $ 66,380
Explanation:
a) Data and Calculations:
The December 31, 2021, unadjusted trial balance for
Demon Deacons Corporation is presented below.
Accounts Debit Credit
Cash $ 9,400
Accounts Receivable 14,400
Prepaid Rent 6,480
Supplies 3,400
Deferred Revenue $ 2,400
Common Stock 11,000
Retained Earnings 5,400
Service Revenue 46,880
Salaries Expense 32,000
$ 65,680 $ 65,680
Adjustments:
DR Rent Expense $2,160 CR Prepaid Rent $2,160
DR Deferred Revenue $600 CR Service Revenue $600
DR Salaries Expense $700 CR Salaries Payable $700
DR Supplies Expense $2,660 CR Supplies $2,660
Mr. Khalis has been employed as an account manager at Kyasara Sdn Bhd since 2 January 2012. On 1 October 2020, Kyasara Sdn Bhd decided to merge with another company named Maxell Sdn Bhd. As a consequence from that merger, the top management of Kyasara Sdn Bhd had terminated many employees including Mr. Khalis who was terminated on 30 November 2020. The company paid him a gratuity of RM280,000 in appreciation of his service. In addition, Mr. Khalis received RM110,000 as compensation for loss of employment and he withdrew RM140,000 from an unapproved fund whereby 60% of the fund was contributed by Kyasara Sdn Bhd. His remuneration and benefits received until 30 November 2020 are as follows:
1. Monthly salary of RM8,010 (after deducting employee’s EPF contribution of 11%).
2. BonuspaidinJune2020amountedtoRM10,000.
3. A monthly entertainment allowance of RM1,800, but he only spent 80% to
entertain company’s clients.
4. A monthly petrol allowance for official duties of RM480 and parking fees
allowance of RM300.
5. TraditionalmedicaltreatmentatanapprovedhospitalcostingRM650waspaid
by the company.
6. Mr. Khalis was awarded the performance incentive of RM2,500 for the year of
assessment 2018, which was paid on 31 October 2020. This incentive was
given due to his excellent service performance for the year of assessment 2018.
7. A new car costing RM250,000 with a driver were provided by the company
throughout his service.
8. A fully furnished condominium with a rental value of RM2,500 per month
(including furniture of RM800 per month) was provided until 30 November 2020.
9. A reimbursement of RM600 per month was made to pay for the salary of a
servant employed by Mr. Khalis.
10.The company paid for Mr. Khalis’s annual corporate membership fees of
RM2,500 to Kota Kemuning Golf Centre.
11.In January 2020, the company paid RM18,000 for his family’s vacation to Las
Vegas. The expenses inclusive of air tickets, accommodations and meals which were RM8,000, RM6,000 and RM4,000 respectively.
Required:
Compute the statutory employment income of Mr. Khalis for the year of assessment
44849q91 24439 99919029383737÷12838281881847747
Ella Company reported the following income statement information for the current year: Sales $410,000 Cost of goods sold: Beginning inventory $132,000 Cost of goods purchased 273,000 Cost of goods available for sale 405,000 Ending inventory 144,000 Cost of goods sold 261,000 Gross profit $149,000 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $20,000. Given this information, the correct gross profit would be:
Answer:
$129,000
Explanation:
Calculation for what the correct gross profit would be:
Correct gross profit =$410,000-($261,000+$20,000)
Correct gross profit =$410,000-$281,000
Correct gross profit =$129,000
Therefore the correct gross profit would be:$129,000
Question 8 of 10
Which of the following is an example of comparative advertising?
A. A toothpaste maker claims that its product prevents more cavities
than other brands.
B. A local restaurant chain runs ads for their weekly lunchtime
specials
C. Advertisements for cigarettes carry a warning that smoking may
cause health problems.
D. A snack foods maker labels its products "100% organic," even
though the snacks are not made from any organic ingredients.
Answer:
A. A toothpaste maker claims that its product prevents more cavities
than other brands.
- Just took the quiz !!
A company had the following purchases and sales during its first year of operations: Purchases Sales January: 10 units at $120 6 units February: 20 units at $125 5 units May: 15 units at $130 9 units September: 12 units at $135 8 units November: 10 units at $140 13 units On December 31, there were 26 units remaining in ending inventory. Using the Perpetual FIFO inventory valuation method, what is the cost of the ending inventory
Answer:
$3540.
Explanation:
FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold
Ending inventory comprises of goods bought in May, September and November
cost of the ending inventory :
(4 x $130) + (12 x $135) + (10 x$140) = $3540
Mustafa a friend of yours, plans to open a fashion boutique that will sell women’s clothing and accessories. He told you that he leafed through several books on how to prepare forecasts and pro forma financial statements but that the books were geared toward existing firms that have several years of historical financial statements on which to base their projections. If Mustafa asked for your advice about how to prepare financial statements along with pro forma and forecasts for a completely new women’s fashion boutique, what would you tell him?
Answer: Financial Forecast
Explanation:
Forecast is a prediction of events that would happen in the future based on evidence of what's seen now or an assumption on projections.
While financial forecast is predicting how well a business will perform in the future through estimating future financial outcomes.
I would advise Mustafa to seek experts ideas on financial forecast for a new business and that would help him project his expectations
Which examples demonstrate common education and qualifications for Counseling and Mental Health Services careers? Check all that apply.
1. Soo uses leadership skills to guide a group of people in religious worship.
2. Jacqueline stays calm even when counseling patients who are angry or upset.
3. Brent uses math skills to help people fill out financial paperwork.
4. Nakisha provides therapy to families and has a master’s degree in Psychology.
5. Tao pays close attention to what patients say and how they behave during counseling sessions.
6. Adam lifts and carries young children while playing with them outdoors.
Answer:
Jacqueline, Nakisha, Tao or B, D, E
Explanation:
got it right
Answer:
B. Jacqueline stays calm even when counseling patients who are angry or upset.
D. Nakisha provides therapy to families and has a master’s degree in Psychology.
E. Tao pays close attention to what patients say and how they behave during counseling sessions.
Explanation:
edge 2021 :)
stay safe and good luck <3
Why do people need to budget their money?
Answer:
Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you.
what are the steps in the recording process
Tierney Construction, Inc. recently lost a portion of its financial records in an office theft. The following accounting information remained in the office files: Cost of goods sold $ 92,750 Work in process inventory, January 1, 2016 23,600 Work in process inventory, December 31, 2016 18,750 Selling and Administrative Expenses 22,800 Net Income 38,500 Factory overhead 22,550 Direct materials inventory, January 1, 2016 29,400 Direct materials inventory, December 31, 2016 16,125 Cost of goods manufactured 112,450 Finished goods inventory, January 1, 2016 38,225 Direct labor cost incurred during the period amounted to 2.5 times the factory overhead. The CFO of Tierney Construction, Inc. has asked you to recalculate the following accounts and to report to him by the end of tomorrow. What should be the amount of direct materials used?
Answer:
$28,675 = direct materials used
Explanation:
To calculate the direct material used, we need to use the following formula:
Cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
112,450= 23,600 + direct materials used + (22,550*2.5) + 22,550 - 18,750
112,450 - 23,600 - 56,375 - 22,550 + 18,750 = direct materials used
$28,675 = direct materials used
In your own understanding what is credit collection policy?
Answer:
A credit collections policy is a document that includes “clear, written guidelines that set the terms and conditions for supplying goods on credit, customer qualification criteria, procedure for making collections, and steps to be taken in case of customer delinquency”.Answer:
a document that includes “clear, written guidelines that set the terms and conditions for supplying goods on credit
Explanation:
The fact that Black Diamond has employees working in the organization from all around the world demonstrates:
Ethnocentrism
Stereotypes
Cultural competence
Like me bias
Answer:
The answer is Cultural competence
The fact in which the black diamond has the employees working in the company represents cultural competence.
The information related to cultural competence is as follows:
It is the capability for understanding, communicating, and interacting with people from different kinds of cultures. Also, it is should be presented in the black diamond.Thus all other options are wrong.
Therefore we can conclude that The fact in which the black diamond has the employees working in the company represents cultural competence.
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Jim and his friends have an upcoming mountain bike trip in the fall. He has collected information about a variety of coaches and gyms where there is crossfit training and emailed his findings to his friends. The following weekend they all meet at a local coffee shop to decide which gym and coaches they will go to as a group. First, they discuss what criteria they will use to make the decision and come up with 1) location, 2) coaches, and 3) price. Next, they review the collected information and narrow down the possibilities to two gyms. What part of the consumer decision-making process are Jim and his friends working through now
Answer:
evaluating alternatives
Explanation:
In this scenario, Jim and his friends are going through the evaluating alternatives part of the decision-making process. This is when an individual analyzes all of the options that provide the product or service that they are trying to obtain. They go through all the details of each option in order to obtain the absolute best deal. This allows the consumer to obtain all of the products or services that they want but by paying the lowest possible price in comparison to the other options.
Jefferson Cleaning signed an agreement with Willis Company on December 15 to provide cleaning services every Friday. The services will be billed to Willis Company on the fifteenth of each month at a rate of $15 per hour. As of December 31, Jefferson Cleaning had provided 15 hours of cleaning services to Willis Company. Which of the following is the required adjusting entry that Jefferson Cleaning should make on December 31?
a. Debit Accounts Receivable, $225; credit Fees Earned, $225
b. Debit Fees Earned, $225; credit Accounts Receivable, $225
c. Debit Accounts Payable, $225; credit Fees Earned, $225
d. Debit Fees Earned, $225; credit Accounts Payable, $225
Answer:
Debit Accounts Receivable, $225; credit Fees Earned, $225
Have a fantastic Day!
What are some reasons why people would budget their money?
Explanation:
Budgeting helps you achieve goals. A good budget keeps you honest. Budgeting helps improve habits. Budgeting helps you avoid debt and improve credit.
if you saw i homeless man or woman what are you ganno do
A. KICK THE HOMELESS MAN OR WOMAN
B. GAVE SA MONEY
C GAVE SOME FOOD
D. STEAL THERE FOOD OR MONEY
Answer:
b and c and maybe if i could i would take them to my place for shelter
Explanation:
Answer:
give food
Explanation:
I would give food because they could get drugs with the money and kicking them is rude
When a product is a ______, the more ______ its demand.
Answer:
oil
Explanation:
what's the context, what are the possible options for input?
The way you have the question now is super vague and unanswerable
Numerical Measurements Practice problems: 1. Four years ago, Ken purchased 200 shares of Walmart (WMT) for $30 each share Now, four years later, he decided to sell all those shares for $32.50 per share. He also received total dividends of $1,80 per share over the four-year period. a. What is the total amount of dividends Ken received for 4 years? b. What was the total return for the investment?
Answer:
a) total dividends received over the four year period = $1.80 per share x 200 shares = $360
b) total return on investment = (total selling price + total dividends earned - initial investment) / initial investment = ($6,500 + $360 - $6,000) / $6,000 = 14.33%
in $, Ken's total return = $6,500 + $360 - $6,000 = $860
Conduct Internet research and find whether your state levies inheritance tax. and how is it different from the federal inheritance tax.
Answer:
My state is Wisconsin, and Wisconsin does not levy a state inheritance tax, nor a estate tax, being one of the 34 states that do not levy any of these two taxes.
This is in contrast with the federal leve, because there is a federal inheritance tax, although with a quite high exemption of around 11 million for individuals, and of 22 million for married couples.
Answer:Inheritance tax is a tax that a person has to pay on money or property inherited after the death of a family member, loved one, and so on. This tax is sometimes referred to as a death tax. It is fundamentally a state tax.
In the federal inheritance or estate tax, the tax value depends on the fair market value of the inheritance. The amount is then levied on the representative of the estate. The taxable amount comes from the value of the estate. Then, the balance goes to the beneficiary of the estate.
As per the state inheritance tax, the beneficiary of the estate must pay the taxable amount. For example, if five family members inherit a property from a deceased relative, each member will individually pay tax on their share of the inheritance
Only eight states have inheritance taxes, these include Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania, and Tennessee. My state, the state of Texas, does not levy an inheritance tax. Even for states that do levy such taxes, many beneficiaries are exempt from the tax under various circumstances.
Explanation: plutos example after answering question so change it up a little dont use word for word.
Who is responsible for filing your federal tax return?
A. The IRS.
B. Your employer.
C. The state tax agency.
D. You.
The demand and supply curves show how buyers and sellers ________; the interaction of buyers and sellers ________. compete against each other; shows that there is no winner respond to prices; determines the price compete against each other; determines the winner determine the price; shows how they respond to prices
Answer:
The correct answer is the second option: respond to prices; determines the price.
So the final statement will be:
The demand and supply curves show how buyers and sellers respond to prices; the interaction of buyers and sellers determines the price.
Explanation:
To begin with, in the microeconomics theory both the demand and supply curves are economic functions that are represented in the graphic in order to give a better understanding of what is going on in the reality of the economy out there. So that means that they are both determine by the quantity demanded or supplied and the price, the relation between those two components. And regarding that, they both will show how the buyers and sellers respond to prices. Moreover, their interaction will determine the price as explained before.
blank be chartered by an appropriate governmental body to exist.
Answer:
A charter is a legal document that formally establishes a corporate entity. Charters are issued by national or provincial governments.
Explanation:
The incorporator oversees setting up the company, prepares and files the charter, and supervises the creation of other corporate documents. The business may also propose an amended charter if the number of directors changes, the board members themselves change, or the corporation moves its primary location.
Identify the correct pattern of a compound-complex sentence
Answer:
A complex sentence combines a dependent clause with an independent clause. When the dependent clause is placed before the independent clause, the two clauses are divided by a comma; otherwise, no punctuation is necessary.
Explanation:
:)
Which franchise model do automobile dealerships usually follow?
(plato)
To maintain financial stability in the country with reduction in deficit, Govt gets help from different international financial institutions. Discuss the different pragmas introduced by IMF, World bank, Asian development bank and Islamic development bank for Pakistan.
Answer:
Pakistan is an under developed country. The resources here are sufficient but the main constraint which hinders the country progress is heavy debt burden on it. The country is struggling to become developed as other nations in the world. Pakistan is insufficient in financial resources and all the money which country generates is offset by the interest on the debt.
Explanation:
There are times when the country has to approach different financial aid institutions in the world for the money. IMF is one of the major financial aid institution which provides finance for developing country. Pakistan has approached IMF many times and it has imposed certain covenants on the country to provide financial aid. The tax imposition, restrictions on usage of fund, military and defense restrictions are imposed on Pakistan.
Scott wanted to start a lawn cutting service but needed to purchase a lawnmower. Sherif gave Scott $30 in exchange for company revenue. What does Sherif now have in Scott’s company?
A.
rebate
B.
investment
C.
stock
D.
bond
Answer:
The correct answer is C. Stock
Explanation:
I got it correct on Plato!
A social media ad costs $2 per person reached and 60% purchase. A traditional media ad costs $0.10 per person
reached and 2% purchase. Which is more effective?
Answer: it’s social media
Explanation:
Social media would be more effective than the traditional media as social media promotes the product and services very quickly. Unlike traditional media, the results from the social media are often in real-time.
What are the differences between the social and traditional media?Social media refer to the applications and websites that allow the users to create and share the content online and participate in social networking. Social media marketing allows for more fluid and personalized messaging.
Traditional media refers to the form of mass communication that was available before the development of digital media. Traditional media generally includes newspapers, radio, magazines, and television.
Basically, social media has number of benefits that indicate how social media is more effective than traditional media. It generally include the ability to communicate with your consumers in a two-way format.
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You are in the market for a used car and decide to visit a used-car dealership. You know that the Blue Book value of the car you are looking at is between $20,000 and $24,000. If you believe the dealer knows as much about the car as you do, how much are you willing to pay
Answer:
$22,000
Explanation:
In this case, both you and the dealer have the same information about the car, meaning that information is symmetrically distributed. Since the value of the car is between $20,000 and $24,000, you should be willing to pay ($20,000 + $24,000) / 2 = $22,000
If the car dealer had more information than you, then you should be willing to pay the lower price $20,000.
Evaluate an open economy from the spending approach in order to get the three sectorial balances, private, external, and public.
Answer:
GDP for an open economy from the spending approach follows this equation:
GDP = Consumption + Investment + Government Spending + Net Exports (Exports - Imports)
It can also be written as:
GDP = C + I + G + NX (X - N)
The balance of private consumption is simply equal to C, the balance of public spending is G, and the balance of the external sector is net exports or NX.
Please help meeeeeee
What types of home products are manufactured in your locality? Write with examples..
Answer:
•product adjustment/modification
•product positioning and repositioning
•product line extensions
•product line breadth
•product line depth
•product line in services