Explanation:
This issue is related to the VRIO model, which is an analytical technique to help a company evaluate its organizational resources and make them effective and competitive in the market. The acronym VRIO stands for Value, Rarity, Imitability and Organization, which together form the necessary points for business improvement.
Analyzing the question, it is possible to see that the company focused on issues related to value, rarity and organization, so the question that should be asked to achieve a sustainable advantage is the question related to imitability, which could be: It is difficult to imitate the product at the cost of the resource or capacity?
Mira Mesa Appliances makes and sells kitchen equipment for offices and hotel rooms. Mira Mesa management believes that a new model of refrigerator made out of a synthetic material would sell well at a price of $260 per unit. Labor costs are estimated at $32 per unit and overhead costs would be $24 per unit. The major uncertainty is the price of the synthetic material. Mira Mesa is in negotiations with several suppliers for the material. Because of the risk associated with the new product, Mira Mesa will only proceed if the estimated return is at least 30 percent of the selling price.
Required:
What is the most Mira Mesa can pay for the synthetic material per unit (refrigerator) and meet its profitability goal?
Answer:
$126
Explanation:
We can calculate the amount Mira can pay for the synthetic material per unit (refrigerator) and meet its profitability goal by deducting the estimated profit and then all the cost from the selling price per unit.
Selling price per unit $260
Less
estimated return (260x30%) = ($78)
Labor costs ($32)
Overhead costs ($24)
Material $126
Amount Mira can pay for Synthetic material per unit is $126
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
questions
Online Content Site 1
When doing career research online, you always want to make sure you are viewing a reliable source, what factors about the
website do you want to consider?
-Expertise of the site: Check if the websites specialize in information related to careers to make sure they have knowledge about the topic.
-Well-known organization: Validate if the organization that manages the website is well established and is considered reliable.
-Date and author: Look for the date to make sure the information is up to date and avoid information with anonymous authors.
-Site's look: Consider if the website has a professional appearance as that can show that it could be reliable. However, other factors have to be taken into account.
Answer:Expertise of the site: Check if the websites specialize in information related to careers to make sure they have knowledge about the topic.
-Well-known organization: Validate if the organization that manages the website is well established and is considered reliable.
-Date and author: Look for the date to make sure the information is up to date and avoid information with anonymous authors.
-Site's look: Consider if the website has a professional appearance as that can show that it could be reliable. However, other factors have to be taken into account.
SecuriCorp operates a fleet of armored cars that make scheduled pickups and deliveries in the Los Angeles area. The company is implementing an activity-based costing system that has four activity cost pools: Travel, Pickup and Delivery, Customer Service, and Other. The activity measures are miles for the Travel cost pool, number of pickups and deliveries for the Pickup and Delivery cost pool, and number of customers for the Customer Service cost pool. The Other cost pool has no activity measure because it is an organization-sustaining activity. The following costs will be assigned using the activity-based costing system:
Driver and guard wages $960,000
Vehicle operating expense 390,000
Vehicle depreciation 270,000
Customer representative salaries and expenses 300,000
Office expenses 160,000
Administrative expenses 460,000
Total cost $2,540,000
The distribution of resource consumption across the activity cost pools is as follows:
Travel Pickup and Delivery Customer Service Other Totals
50% 35% 10% 5% 100%
70% 5% 0% 25% 100%
60% 15% 0% 25% 100%
0% 0% 90% 10% 100%
0% 20% 30% 50% 100%
0% 5% 60% 35% 100%
Required:
Complete the first stage allocations of costs to activity cost pools.
Answer:
attached below is the table showing the first stage of allocations of cost to activity
Explanation:
The first stage of allocations of cost to activity cost pools
is calculated by :
( percentage cost of distribution ) * ( cost assigned )
1) Driver and Guards wages
Travel = 960000 * 50% = $480000
pickup and delivery = 960000 * 35% = $336000
customer service = 960000 * 10% = $96000
other = 960000 * 5% = $48000
Total = $960000
2) Vehicle operating expense
Travel = 390000 * 70% = 273000
pickup and delivery = 390000 * 5% = 19500
customer service = 390000 * 0% = 0
other = 390000 * 25% = 97500
Total = $390000
3) vehicle depreciation
Travel = 270000 * 60% = 162000
Pickup and delivery = 270000 * 15% = 40500
customer service = 270000 * 0% = 0
other = 270000 * 25% = 67500
Total = $270000
4) customer rep salaries and expenses
Travel = 300000 * 0 % = 0
pickup and delivery = 300000 * 0% = 0
customer service = 300000 * 90% = 270000
other = 300000 * 10% = 30000
Total = $300000
5) office expenses
travel = 160000 * 0% = 0
pickup and delivery = 160000 * 20% = 32000
customer service = 160000 * 30% = 48000
other = 160000 * 50% = $80000
Total = $160000
6) Administrative expenses
Travel = 460000 * 0% = 0
pickup and delivery = 460000 * 5% = 23000
customer service = 460000 * 60% = 276000
other = 460000 * 35% = 161000
total = $460000
Sunspot Beverages, Ltd., of Fiji uses the FIFO method in its process costing system. It makes blended tropical fruit drinks in two stages. Fruit juices are extracted from fresh fruits and then blended in the Blending Department. The blended juices are then bottled and packed for shipping in the Bottling Department. The following information pertains to the operations of the Blending Department for June. Percent Completed Units Materials Conversion Work in process, beginning 20,000 100 % 75 % Started into production 180,000 Completed and transferred out 160,000 Work in process, ending 40,000 100 % 25 % Materials Conversion Work in process, beginning $ 25,200 $ 24,800 Cost added during June $ 334,800 $ 238,700 Required: 1. Compute the Blending Department's equivalent units of production for materials and conversion for June. 2. Compute the Blending Department's cost per equivalent unit for materials and conversion for June. 3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June. 4. Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for June. 5. Prepare a cost reconciliation report for the Blending Department for June.
Answer:
Explanation:
beginning WIP 20,000
materials 100% completed
conversion 75% completed (25% added in current period 5,000 EU)
started into production 180,000 units
completed and transferred out 160,000 units
units started and transferred out = 180,000 - 20,000 - 40,000 = 120,000 units
ending WIP 40,000 units
materials 100% completed
conversion 25% completed (10,000 EU)
beginning costs:
materials $25,200
conversion $24,800
added during the period:
materials $334,800
conversion $238,700
1. Compute the Blending Department's equivalent units of production for materials and conversion for June.
EUP for materials = 180,000 units
EUP for conversion = 5,000 + 120,000 + 10,000 = 135,000
2. Compute the Blending Department's cost per equivalent unit for materials and conversion for June.
cost per EUP for materials = $334,800 / 180,000 = $1.86
cost per EUP for conversion = $238,700 / 135,000 = $1.768148
3. Calculate the Blending Department's cost of ending work in process inventory for materials, conversion, and in total for June.
materials = 40,000 x $1.86 = $74,400
conversion = 10,000 x $1.768148 = $17,681.50
total = $92,081.50
4. Calculate the Blending Department's cost of units transferred out to the next department for materials, conversion, and in total for June.
materials = (140,000 x $1.86) + $25,200 = $285,600
conversion = (125,000 x $1.7681) + $24,800 = $245,818.50
total = $531,418.50
5. Prepare a cost reconciliation report for the Blending Department for June.
Beginning WIP:
Cost already incurred $50,000
Material cost 0 Conversion Cost = 5,000 x $1.768148 = $8,840.75Total $58,840.75
Started and transferred out
materials 140,000 x $1.86 = $260,400conversion costs 120,000 x $1.768148 = $212,177.75total $472,577.75Total cost of units transferred out $531,418.50
I need a congratulations to a department at work for there good work. it's also there 1 yr anniversary at a different sight
need verbiage indicating how proud we are.
Answer:
Happy 1 year anniversary! Relocating can be hard, but you guys made it look effortless. Can you believe that it’s already been a year? This year is abnormal, but you guys came through like always. We are so proud of you guys. We never could have wished for a more hard working team than you guys. Keep up the grind, and you guys will do even better!
Explanation:
I need the answer points but i already wrote something in the comments
Which of the following is NOT a responsibility of a process owner? a. monitoring how a process performs b. ensuring operators within the process have the resources and training they need to succeed. c. comparing performance between both DMAIC and DMADV methodologies on an on-going basis during the project. d. understanding how the process fits into the overall business strategy
The answer choice which is not a responsibility of a process owner is c. comparing performance between both DMAIC and DMADV methodologies on an on-going basis during the project.
Who is a Process Owner?This refers to a person who is responsible for designing an effective process that makes use of technical resources and gives quality outcomes.
Hence, we can see that as a process owner, there are certain responsibilities which he has to do which include monitoring how a process performs, but he is NOT responsible for comparing performance between both DMAIC and DMADV methodologies on an on-going basis during the project.
Read more about process owner here:
https://brainly.com/question/15313964
All of the following distributions of stock dividends are taxable except: a. The shareholders have the choice to receive cash or other property instead of stock or stock rights. b. The distribution of common stock is made on a prorated basis on common stock outstanding. c. The distribution gives cash or other property to some shareholders and an increase in the percentage interest in the corporation's assets or earnings and profits to other shareholders. d. The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders.
Answer:
d. The distribution gives preferred stock to some common stock shareholders and common stock to other common stock shareholders.
Explanation:
This is likely the answer to the question. There is no way preferred stock would be given to some common stock shareholders while common stock to other stock to others.
Assigning common fixed costs to segments impacts ______. Multiple choice question. neither segment margin nor total corporate profit segment margin only total corporate profit only both segment margin and total corporate profit
Both the segment margin and total corporate profit are affected by the assigning of common fixed costs to segments.
What is a Common Fixed cost?A common fixed cost refers to a fixed cost which supports the firm activities of the different business segments.
Usually, it is very hard to separate the common fixed cost from each segment or unit.
Hence, the segment margin and total corporate profit are affected by the assigning of common fixed costs to segments.
Therefore, the Option D is correct.
Read more about common fixed cost
brainly.com/question/3636923
Aspen Company estimates its manufacturing overhead to be $625,000 and its direct labor costs to be $500,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $195,000. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $325,000. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $130,000. Actual manufacturing overhead for year 2 was $800,000. Manufacturing overhead is applied on the basis of direct labor costs. Required: a. How much overhead was applied to each job in year 2? b. What was the over- or underapplied manufacturing overhead for year 2?
Answer:
Instructions are below.
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 625,000/500,000
Predetermined manufacturing overhead rate= $1.25 per direct labor dollar
Now, we allocate overhead to each Job:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Job 2-1= 1.25*195,000= 243,750
Job 2-2= 1.25*325,000= 406,250
Job 2-3= 1.25*130,000= 162,500
Total allocated overhead= $812,500
Finally, the under/over allocation overhead:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 800,000 - 812,500
Under/over applied overhead= $12,500 overallocated
Manufacturing Over head over applied in job 2 and year 2 $12,500.
Overhead based problem:What information do we have?
Actual manufacturing overhead = $800,000
Applied overhead in job 2 year 1 = $195000 × 125%
Applied overhead in job 2 year 1 = $243750
Applied overhead in job 2 year 2 = $325000 × 125%
Applied overhead in job 2 year 2 = $406250
Applied overhead in job 2 year 3 = $130000 × 125%
Applied overhead in job 2 year 3 = $162500
Total Applied overhead = $243750 + $406250 + $162500
Total Applied overhead = $812,500
Overhead over applied = $812,500 - $800,000
Overhead over applied = $12,500
Find out more information about 'Overhead'.
https://brainly.com/question/19130334?referrer=searchResults
Which of the sentences below are correctly constructed? Check all that apply. However, you can make the necessary changes. Professional HR staff members now conduct individual benefits meetings and these meetings have reduced confusion during the annual benefits open-enrollment period. Advances in web interactivity have enabled design firms to more easily provide interactive portfolios; consequently, potential clients are able to view the firm’s work before making contact. When you can identify the company’s overall objectives. Executive positions in many fields require advanced degrees, but this is not always the case.
Answer:
- Advances in web interactivity have enabled design firms to more easily provide interactive portfolios; consequently, potential clients are able to view the firm’s work before making contact.
- Executive positions in many fields require advanced degrees, but this is not always the case.
Explanation:
The above sentences are correctly constructed as they are syntactically and phonologically appropriate. It employs appropriate punctuation marks like semicolon(;) and commas(,) to separate the introductory clauses and words which help in clarifying the meaning to the readers effectively. The use of conjunctions are also adequate. The other sentence are either incomplete as they convey an unaccomplished thought which requires a principal clause to accomplish it or employs incorrect vocabulary which jumbles up the meaning and confuses the reader.
A transaction against a consumer's normal buying behavior can be used to do which
of the following?
A) Create promotional campaigns
B) Detect fraudulent credit card transactions
C) Group the customer into a different category
Answer: Detect fraudulent credit card transactions
Explanation:
Fraudulent credit card transactions can be detected by comparing a transaction to a consumer's usual buying habits. As a result, option B is the proper response.
How is abnormal buying behavior detected?The difficulty of discovering patterns in data that deviate considerably from expected behavior is addressed by anomaly detection.
The ability to detect such irregularities is critical in areas like credit card and bank transaction fraud, insurance claims, and money laundering.
Suspicious-looking patterns are learned by neural networks, which then use those patterns to detect them further.
For more information about buying behavior, refer below
https://brainly.com/question/27063718
Which of the following items is not a part of planning?
Select one:
a. Contingency plan
b. Strategic plan
c. Tactical plan
d. Operational plan
e. Objective plan
An objective plan is not a part of planning. Thus, option A is correct.
What is planning?Planning is the process of creating a specific plan that outlines how management will exercise control and what the overall objectives will be. In essence, it lays out the process for achieving the goal step by step.
The objective plan is the goal towards which the manager is taking all the steps in the planning process to achieve it. An objective plan is not a part of planning because it is the and result or the goal with is to be achieved.
The manager usually plan according to the goal or the objective that is being predicted. It does not comes under the planning or the planning category. The goal may be set by the manager or the higher level authority.
Therefore, option A is the correct option.
Learn more about Planning, here:
https://brainly.com/question/22057981
#SPJ2
Office Productsâ (MOP) produces three different paper products at its Vaasa lumberâ plant: Supreme,â Deluxe, and Regular. Each product has its own dedicated production line at the plant. It currently uses the followingâ three-part classification for its manufacturingâ costs: directâ materials, direct manufacturingâ labor, and manufacturing overhead costs. Total manufacturing overhead costs of the plant in July are million â( million of which areâ fixed). This total amount is allocated to each product line on the basis of the direct manufacturing labor costs of each line. Summary dataâ (in millions) for July are asâ follows:
Supreme Deluxe Regular
Direct material costs $89 $57 $60
Direct manufacturing labor costs $16 $26 $8
Manufacturing overhead costs $48 $78 $24
Units produced â 125 â 150 â 140
Required:
a. Compute the manufacturing cost per unit for each product produced in July 2017.
b. Suppose that, in August 2017, production was 150 million units of Supreme, 190 million units of Deluxe,and 220 million units of Regular. Why might the July 2017 information on manufacturing cost per unit bemisleading when predicting total manufacturing costs in August 2017?
Answer:
1. Supreme $1.344 million per unit
Deluxe $1.17 million per unit
Regular $0.76 million per unit
2. VARIABLE COST have not been put in place for consideration
Explanation:
1.Computation for the manufacturing cost per unit for each product produced in July 2017.
Calculation for Supreme
SupremeTotal Fixed Costs = $15
Total Variable Costs =($89 + $16 + $48)
Total Variable Costs = $153
Units Produced = 125 units
Manufacturing Cost Per Unit = ($15 + $153)/(125 units)
Manufacturing Cost Per Unit=$168/125 units
Manufacturing Cost Per Unit = $1.344 million per unit
Calculation for Deluxe
DeluxeTotal Fixed Costs = $15
Total Variable Costs = ($57 + $26 + $78)
Total Variable Costs = $161
Units Produced = 150 units
Manufacturing Cost Per Unit = ($15 + $161)/(150 Units)
Manufacturing Cost Per Unit=$176/150 units
Manufacturing Cost Per Unit= $1.17 million per unit
Calculation for Regular
Regular Total Fixed Costs = $15
Total Variable Costs = ($60 + $8 + $24)
Total Variable Costs= $92
Units Produced = 140 units
Manufacturing Cost Per Unit = ($15 + $92)/(140
Units)
Manufacturing cost per unit=$107/140 units
Manufacturing cost per unit= $0.76 million per unit
2. The reason why we might say that the July 2017 information about manufacturing cost per unit might tend to mislead when total manufacturing costs is been predicted in the month of August 2017 is that VARIABLE COST have not been put in place for consideration .
Carlos is a 25 percent owner of CEBJ Builders, a company that specializes in residential construction. The other 75 percent of CEBJ is owned by his three brothers. During the year, Carlos spends 1,800 hours managing the operations of CEBJ. He also is the 100 percent owner of four rental properties and spends 125 hours a year maintaining the properties, more than any other individual. During the current year, the four properties generate a loss of $18,500. His adjusted gross income before considering the rental loss is $118,000. What amount of the loss can Carlos deduct in the current year? Assume that Carlos’s ownership interest in CEBJ is 4 percent. What amount of the loss can he deduct? Assume that Carlos spends only 600 hours managing CEBJ Builders and 1,200 hours managing a microbrewery he acquired earlier in the year. What amount of the loss can he deduct? Assume that Carlos hires his brother-in-law to help him manage the properties. Carlos spends 125 hours and his brother-in-law spends 225 hours managing the rental properties. What amount of the loss can Carlos deduct?
Answer:
a) What amount of the loss can Carlos deduct in the current year?
Carlos's passive losses = $18,500 (rental activities are always passive unless you are a real estate professional)
An individual can deduct up to $25,000 per year in passive losses, but that deduction starts to phase out above an AGI of $100,000. For every $2 above $100,000, the deduction phases out by $1.
Total phase out = ($118,000 - $100,000) x 1/2 = $9,000
Carlos can deduct up to $18,500 - $9,000 = $9,500 from his gross income.
b) Assume that Carlos spends only 600 hours managing CEBJ Builders and 1,200 hours managing a microbrewery he acquired earlier in the year. What amount of the loss can he deduct?
Same as above, since both managing CEBJ and the microbrewery are considered material participation (more than 500 hours), while renting represents a passive activity.
c) Assume that Carlos hires his brother-in-law to help him manage the properties. Carlos spends 125 hours and his brother-in-law spends 225 hours managing the rental properties. What amount of the loss can Carlos deduct?
renting properties is always a passive activity, and income or losses are considered passive income or losses
Crown Co. is expecting to receive 100,000 British pounds in one year. Crown expects the spot rate of the British pound to be $1.49 in a year, so it decides to avoid exchange rate risk by hedging its receivables. The spot rate of the pound is quoted at $1.51. The strike price of put and call options are $1.54 and $1.53, respectively. The premium on both options is $.03. The one-year forward rate exhibits a 2.65 percent premium. Assume there are no transaction costs. What is the best possible hedging strategy and how many U.S. dollars Crown Co. will receive under this strategy?
Answer:
Sell pound forward
Explanation:
Forward rate = $1.51 *(1+2.65%) = 1.51 * 1.0265 = 1.55
Amount receivable in case of forward hedge = 100,000 * 1.55 = 155,000
Premium payable on put options = 100,000 * 0.3 = 3,000
Amount receivable in put options = 100,000 * 1.54 = 154,000
Net receivables in put options = 154,000 - 3,000 = 151,000
Conclusion: Higher amount is available in case of forward hedge. So, sell pound forward
Why do you think companies have a sustainable competitive advantage?
Answer:
Sustainable competitive advantage is the key to business success. It is the force that enables a business to have greater focus, more sales, better profit margins, and higher customer and staff retention than competitors.
Explanation:
A great example of a sustainable competitive advantage based on human emotions is Coca-Colabranding. Coca-Cola is successfully positioning its products as happy, meaning that they bring joy, harmony, etc. When you try to serve everyone, you serve no one.
Jacques, who is age 45, has just resigned from his current job. He worked for Ace, which sponsors a cash balance plan and a standard 401(k) plan. Each of the plans uses the longest permitted vesting schedule and both plans are top heavy. He has a balance of $40,000 in the cash balance plan, has deferred $20,000 into the 401(k) plan and has employer matching contributions of $10,000. If he has been employed for three years, but only participating in the plans for the last two years, how much does he keep if he leaves today? a. $60,000 b. $20,000. c. $64,000 d. $30,000.
Answer: c. $64,000
Explanation:
Cash balance plans can be claimed if the employee has worked for the employer at least 3 years which means he gets to keep the $40,000.
He will also keep the deferred balance of $20,000.
For working 3 years he also gets to keep 40% of the employer's contribution.
= 40,000 + 20,000 + (10,000 * 40%)
= $64,000
iRobot designs andmanufactures robots for consumer, commercial, and military use. For the fiscal year ended January 2, 2016, the company reported the following on its balance sheet and income statement(amounts in thousands):
Accounts receivable, net of allowance of $33 at January 2, 2016, and $67 at December 27,2014, of $104,679 and $71,056, respectively.
Revenue for fiscal 2015 (i.e., the year ended January 2, 2016) of $616,778.
Bad debt expense for fiscal 2015 of $0.
Required:
Compute the amount of cash collected from customers during fiscal 2015.
Answer:
iRobot
The amount of cash collected from customers during fiscal 2015 = $583,155.
Explanation:
a) Data and Calculations:
Allowance at January 2, 2016 = $33
Allowance at December 27, 2014 = $67
Accounts Receivable at January 2, 2016 = $104,679
Accounts Receivable at December 27, 2014 = $71,056
Revenue for 2015, year ended Jan 2, 2016 = $616,778
Bad debt expense for 2015 = $0
Computation of the Cash collected from customers during fiscal 2015:
Accounts Receivable
Dec. 27, 2014 Balance $71,056
2015 Revenue 616,778
Jan. 2, 2016 Balance (104,679)
2015 Cash $583,155
Bonita is a licensed dentist. During the first month of the operation of her business, the following events and transactions occurred.
April 1 Invested $18,000 cash in her business.
1 Hired a secretary-receptionist at a salary of $500 per week payable monthly.
2 Paid office rent for the month $1,100.
3 Purchased dental supplies on account from Dazzle Company $4,200.
10 Performed dental services and billed insurance companies $4,700.
11 Received $1,400 cash advance from Leah Mataruka for an implant.
20 Received $2,100 cash for services performed from Michael Santos.
30 Paid secretary-receptionist for the month $2,000.
30 Paid $2,720 to Dazzle for accounts payable due.
(a)
Partially correct answer icon
Your answer is partially correct.
Journalize the transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Date
Account Titles and Explanation
Debit
Credit
choose a transaction date
enter an account title to record the owner’s investment of cash in business
Owner's investment of cash in business
enter a debit amount
$18,000
enter a credit amount
enter an account title to record the owner’s investment of cash in business
enter a debit amount
enter a credit amount
(Owner’s investment of cash in business)
choose a transaction date
enter an account title to record a recruitment of secretary-receptionist
enter a debit amount
enter a credit amount
enter an account title to record a recruitment of secretary-receptionist
enter a debit amount
enter a credit amount
(Hired a secretary-receptionist)
choose a transaction date
enter an account title to record the payment of monthly office rent
enter a debit amount
enter a credit amount
enter an account title to record the payment of monthly office rent
enter a debit amount
enter a credit amount
(Paid monthly office rent)
choose a transaction date
enter an account title to record the purchase of supplies on account from Dazzle Company
enter a debit amount
enter a credit amount
enter an account title to record the purchase of supplies on account from Dazzle Company
enter a debit amount
enter a credit amount
(Purchased supplies on account from Dazzle Company)
choose a transaction date
enter an account title to record billing the clients for services performed
enter a debit amount
enter a credit amount
enter an account title to record billing the clients for services performed
enter a debit amount
enter a credit amount
(Billed clients for services performed)
choose a transaction date
enter an account title to record the receipt of the cash for future service
enter a debit amount
enter a credit amount
enter an account title to record the receipt of the cash for future service
enter a debit amount
enter a credit amount
(Received cash for future service)
choose a transaction date
enter an account title to record the receipt of the cash for services performed
enter a debit amount
enter a credit amount
enter an account title to record the receipt of the cash for services performed
enter a debit amount
enter a credit amount
(Received cash for services performed)
choose a transaction date
enter an account title to record the payment of monthly salary
enter a debit amount
enter a credit amount
enter an account title to record the payment of monthly salary
enter a debit amount
enter a credit amount
(Paid monthly salary)
choose a transaction date
enter an account title to record the payment to Dazzle Company on account
enter a debit amount
$2,720
enter a credit amount
enter an account title to record the payment to Dazzle Company on account
enter a debit amount
enter a credit amount
(Paid Dazzle Company on account)
Answer:
Is this a ligit question even???
In January, Tongo, Inc., a branding consultant, had the following transactions.
a. Received $13,200 cash for consulting services rendered in January.
b. Issued common stock to investors for $8,000 cash.
c. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
d. Received $11,800 cash for consulting services to be performed in February.
e. Bought $1,750 of supplies on account.
f. Received utility bill for January for $2,060, due February 15.
g. Consulted for customers in January for fees totaling $19,900, due in February.
h. Received $13,300 cash for consulting services rendered in December.
i. Paid $875 toward supplies purchased in (e).
Account Title Debit Credit
Cash $14,200
Accounts Receivable 17,200
Supplies 1,260
Equipment 4,800
Accounts Payable $6,100
Unearned Revenue 3,250
Note Payable 0
Common Stock 10,000
Retained Earnings 18,110
Service Revenue 0
Utilities Expense 0
Required:
Prepare an unadjusted trial balance for Tongo, Inc. for the month ended January 31.
Answer:
first I will journalize the transactions:
a. Received $13,200 cash for consulting services rendered in January.
Dr Cash 13,200
Cr Service revenue 13,200
b. Issued common stock to investors for $8,000 cash.
Dr Cash 8,000
Cr Common stock 8,000
c. Purchased $11,200 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years.
Dr Equipment 11,200
Cr Cash 2,800
Cr Notes payable 8,400
d. Received $11,800 cash for consulting services to be performed in February.
Dr Cash 11,800
Cr Unearned revenue 11,800
e. Bought $1,750 of supplies on account.
Dr Supplies 1,750
Cr Accounts payable 1,750
f. Received utility bill for January for $2,060, due February 15.
Dr Utilities expense 2,060
Cr Accounts payable 2,060
g. Consulted for customers in January for fees totaling $19,900, due in February.
Dr Accounts receivable 19,900
Cr Service revenue 19,900
h. Received $13,300 cash for consulting services rendered in December.
Dr Cash 13,300
Cr Accounts receivable 13,300
i. Paid $875 toward supplies purchased in (e).
Dr Accounts payable 875
Cr Cash 875
Tongo, Inc.
Unadjusted trial balance sheet
For the month ended January 31, 202x
Debit Credit
Cash $56,825
Accounts Receivable $23,800
Supplies $3,010
Equipment $16,000
Accounts Payable $9,035
Unearned Revenue $15,050
Note Payable $8,400
Common Stock $18,000
Retained Earnings $18,110
Service Revenue $33,100
Utilities Expense $2,060
Totals $101,695 $101,695
4. Consider the following accounts of the Second National Bank. Assets $mn Liabilities $mn ---------------------------------------------------------------------------------------------------------------- Rate-sensitive assets 50 Rate-sensitive Deposits 30 (Duration 5 years) (Duration 3 years) Fixed Rate Assets 100 Fixed rate Deposits 90 (Duration 5 years) (Duration 3 years) Share Capital 30 ---------------------------------------------------------------------------------------------------------------- a. If the interest rate rises by 5%, what is the impact on the Bank
Answer:
Follows are the solution to this question:
Explanation:
Sensitive rate of assets RA = $50 mn
liabilities or deposits sensitive rate RL = $30 mn
Formula for difference:
[tex]\bold{GAP=RA - RL}[/tex]
[tex]= \$ \ 50 - \$ \ 30 \\\\ = \$ \ 20 \ mn[/tex]
It helps Difference analysis to detect changes throughout the revenue or net earnings of a banks interest rate due to change
The net interest rate of change = GAP [tex]\times[/tex] interest rate of change
As the rate rises, its interest rate changes = +5%
[tex]\text{Net interest rate change} = \$ 20 \ mn \times 5 \%[/tex]
[tex]= \$ 20 \ mn \times \frac{5}{100}\\\\= \frac{5}{5}\\\\= \$ 1 \ millon[/tex]
Due to the 5 percent change in interest rates, GAP research shows that bank net interest revenue rises by $1 millon.
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway paid $280,000 for the machine and is leasing it to Zone for $40,000 per year, an amount that will return 11% to Calloway. The present value of the lease payments is $280,000. The lease payments are due each January 1, beginning in 2021. What is the appropriate interest entry on December 31, 2021? Multiple Choice Cash 26,400 Interest receivable 26,400 Cash 30,800 Interest revenue 30,800 Interest receivable 26,400 Interest revenue 26,400 Interest receivable 30,800 Interest revenue 30,800
Answer:
DR Interest receivable 26,400
CR Interest revenue 26,400
Explanation:
As first lease has already been paid, the amount left of the lease is;
= 280,000 - 40,000
=$240,000
Interest is 11% so the interest to be received in December is;
= 11% * 240,000
= $26,400
This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.
Four fundamental factors affect the supply of, and demand for, investment capital, hence the -Select- of money. These factors are: production opportunities, time preferences for consumption, risk, and inflation. If the entire population was living at the subsistence level, time preferences for current consumption would be -Select- , savings would be -Select- , interest rates would be -Select- , and capital formation would be -Select- . Producers' expected returns on their business investments set a(n) -Select- limit on how much they can pay for savings, while consumers' time preferences for consumption establish how much consumption they are willing to delay, and, consequently, how much they will -Select- at different interest rates. In addition, -Select- risk and -Select- inflation lead to higher interest rates. Determine whether each of the statements below is true or false:
Incomplete question. The complete question reads;
Four fundamental factors affect the supply of, and demand for, investment capital, hence the____of money.These factors are: production opportunities, time preferences for consumption, risk, and inflation. If the entire population was living at the subsistence level, time preferences for current consumption would be ___, savings would be ____, interest rates would be ___, and capital formation would be _____.Producers' expected returns on their business investments set a(n) ____ limit on how much they can pay for savings, while consumers' time preferences for consumption establish how much consumption they are willing to delay, and, consequently, how much they will ....... at different interest rates. In addition, ___risk and____inflation lead to higher interest ratesAnswer:
costhigh, low, high, difficultupper, save, higher, higherExplanation:
After filling the blanks with the words above we can reach the conclusion that each statement is true. For example, if we consider the statement,
"Producers' expected returns on their business investments set a(n) upper limit on how much they can pay for savings," we would agree that because they want to make a profit the producers try to reduce cost by setting an upper limit of how much they can pay.
a. She estimates that the per year cost to attend a local university in Texas including room and board is $26,346. She also assumes the costs of attendance will rise by 2.8% per year. How much is a 4-year degree going to cost Scarlett
The 4-year degree will cost Scarlett a total of $109,893.33.
How is the total cost determined?The total cost of Scarlett's university education can be determined using the future value formula or an online finance calculator as follows:
Data and Calculations:Cost of university education = $26,346
Annual increase in cost = 2.8%
Duration of study = 4 years
From an online finance calculator:
N (# of periods) = 4 years
I/Y (Increment per year) = 2.8%
PV (Present Value) = $0
Annual PMT (Periodic Payment) =$26,346
Results:
FV = $109,893.33
Sum of all periodic payments + $105,384.00
Total increment = $4,509.33
Thus, the 4-year degree will cost Scarlett a total of $109,893.33.
Learn more about determining future value or cost at https://brainly.com/question/25805668
Eduardo obtained credit to buy a car. He has failed to make any payments over the past
few months. What is MOST likely to happen?
A. He will make one giant payment to cover the past months without penalty,
B.The lender will take possession of his car.
C. The amount of debt owed will decrease the longer he waits to make a payment.
D.Nothing-people are allowed to miss several payments without consequences.
The lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
What is a car credit?A car credit is an arrangement of installment payment on a car with an agreement to pay certain amount at regular interval.
Hence, the lender will most likely take possession of his car when Eduardo failed to make any payments over the past few months on the car credit.
Therefore, the Option B is correct.
Read more about car credit
brainly.com/question/24460932
Which of the following is an example of architecture technology?
A: GPS devices
B: Blueprints
C: Prototypes
Answer:
prototypes
Its a screen that can design tools.
Consider the 2-period household model that you have seen in class. Suppose the household wants to consume equal amounts in both periods. She earns $100 in the first period and $150 in the second period. The interest rate depends on whether she saves or borrows. The interest rate on saving is 1%, while the interest rate on borrowing is 10%. Required:
What is her optimal consumption?
The optimal consumption of the household based on the interest rate on borrowing given will. 124.87.
How to calculate optimal consumption?From the information given, the following can be gotten:
Y1 = 100
Y2 = 150
Interest rate on savings = 1%
Interest rate on borrowing = 10%
When she saves, the optimal consumption will be:
c1 + c2/1+r = Y1 + Y2/1+r
c1 + c1/1+0.01 = 100 + 150/1+0.01
(1.01 × c1) + c1/1.01 = (1.01 + 150)/1.01
2.01c1 = 251
c1 = 251/2.01
c1 = 124.87
Therefore, the optimal consumption is 124.87.
Learn more about consumption on:
https://brainly.com/question/24741444
What knowledge or skill is most important for a front desk clerk? A. ability to handle a telephone exchange B. accounting skills C. communication skills D. knowledge of food production E. observation skills
Answer:
C. communication skills
Explanation:
A front desk clerk's primary duty is to welcome and offer guidance or assistance to guests. To make the guest happy, the clerk should have the following communication skills.
Speak articulately so listeners can understand.Understand spoken and written information.Write well so others can understandGood listenerRead and understand work-related materials.Assume AuctionCo takes control of this used bicycle before the sale and pays $200 to the supplier. Under this assumption, how much revenue would AuctionCo recognize at the time of the sale to the customer?Assume AuctionCo never takes control of this used bicycle before the sale. Instead, the bicycle is shipped directly to the customer by the original bicycle owner, and then AuctionCo pays $200 to the supplier. Under this assumption, how much revenue would AuctionCo recognize at the time of the sale to the customer?Assume AuctionCo promises to pay $200 to the supplier regardless of whether the bicycle is sold, but the bicycle will continue to be shipped directly from the supplier to the customer. Under this assumption, how much revenue would AuctionCo recognize at the time of the sale to the customer?
Answer:
$300$100$300Explanation:
1. AuctionCo takes control of this used bicycle before the sale and pays $200 to the supplier.
Revenue will be the $300 that the bicycle was sold for because they took control.
2. AuctionCo never took control.
Revenue will be the amount they earned for being agents;
= Sales price - Cash to supplier
= 300 - 200
= $100
3. Assume AuctionCo promises to pay $200 to the supplier regardless of whether the bicycle is sold...
= $300
Revenue is $300 because Auction assumes control when they promise to pay $200 regardless.
For each scenario, calculate the cross-price elasticity between the two goods and identify how the goods are related. Please use the midpoint method when applicable, and specify answers to one decimal place.
a. A 20% price increase for Product A causes a 10% decrease in its quantity demanded, but no change in the quantity demanded for Product B.
b. Product C increases in price from $3 a pound to $4 a pound. This causes the quantity demanded for Product D to increase from 44 units to 85 units.
c. When the price of Product E decreases 9% , this causes its quantity demanded to increase by 14% and the quantity demanded for Product F to increase 12% .
Answer:
a. A 20% price increase for Product A causes a 10% decrease in its quantity demanded, but no change in the quantity demanded for Product B.
cross price elasticity of demand = 0 / 0.2 = 0, unrelated products
b. Product C increases in price from $3 a pound to $4 a pound. This causes the quantity demanded for Product D to increase from 44 units to 85 units.
cross price elasticity of demand = 0.93 / 0.33 = 2.82, substitute products
c. When the price of Product E decreases 9% , this causes its quantity demanded to increase by 14% and the quantity demanded for Product F to increase 12% .
cross price elasticity of demand = 0.12 / -0.09 = -1.33, complement goods
Explanation:
cross price elasticity of demand = (Qx₂ - Qx₁) / [(Qx₂ + Qx₁)/2] / (Py₂ - Py₁) / [(Py₂ + Py₁)/2] /
cross price elasticity of demand = % change of Qx / % change of Py
cross price elasticity of demand > 0, substitute goods
cross price elasticity of demand < 0, complement goods
cross price elasticity of demand = 0, unrelated goods