Your profit or loss is defined as the disparity between your assets and liabilities.
What are assets?Assets refer to any resources that have a significant economic value and are owned or controlled by an individual, company or organization. Assets can be physical or intangible and can be used for generating income or achieving financial goals. Examples of physical assets include property, inventory, equipment, and machinery, while intangible assets include patents, copyrights, trademarks, and goodwill. Assets are typically classified as current or non-current based on their expected lifespan, liquidity, and usage. Current assets include cash, accounts receivable, inventory, and short-term investments, while non-current assets include long-term investments, real estate, and fixed assets such as buildings and equipment. Assets play a crucial role in determining the financial health of an individual or organization and are an essential component of any financial statement.
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on december 30, you make a $4,500 charitable donation. a. if you are in the 12 percent tax bracket, how much will you save in taxes for the current year? (assume your other itemized deductions exceed the standard deduction amount.) b. if you deposit that tax savings in a savings account for the next seven years at 9 percent, what will be the future value of that account? use exhibit 1-a. (round fv factor to 3 decimal places. round your answers to 2 decimal places.)
Any investment, financial account, or savings plan that is either tax-free, tax-deferred, or provides other types of tax benefits is considered to be tax-advantaged.
What does it mean to save taxes?A reduction in the amount of taxes paid by an individual, business, or other taxpayer is referred to as a tax saving. After completing an income tax return, this may reduce the amount of tax withheld or the total amount owed. Deductions, exemptions, and credits frequently result in tax savings.
What can I do to lower my taxable income?Contributing to a retirement account through an employer-sponsored plan or an individual retirement account (IRA) is a good way to lower taxable income. During the years in which contributions are made, both flexible spending accounts and health spending accounts contribute to the reduction of taxable income.
A) Tax Saving Contribution x 4500 x 12% = $540.00.
B) Future Value Tax Saving Contribution x (1+rate%) x Year 540 (1+9%) 7 540 x 1.828 = $987.12
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opportunity costs . multiple select question. should be considered in decision making are benefits lost when choosing one option over another are uncommon in decision making are part of traditional gaap-based accounting records
opportunity costs are benefits lost when choosing one option over another and should be considered in decision-making. Thus options A and B are correct.
What does the opportunity cost?Opportunity cost refers to a scenario of excess where a person has a number of options accessible and chooses one over another by weighing their relative value.
Opportunity costs can be seen in any situation where a person must choose between giving up one thing and keeping another. This hypothesis argues that economic agents choose actions that maximize gains.
Therefore, option A and B is appropriate.
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average manufacturing overhead cost per unit usually varies from one period to the next because blank . multiple choice question. variable overhead costs per unit vary when production changes the makeup of manufacturing overhead changes from period to period fixed manufacturing overhead remains constant in total even when production changes
The average manufacturing overhead cost per unit often varies from one period to the next for the reasons listed below: Even when production changes, fixed manufacturing overhead maintains its total value constant.
What is meant by average cost?The calculation of the average cost involves dividing the total arithmetic cost by the quantity or number of items provided. Below is the formula for calculating the average cost.As stated in the definition of average cost, it is the proportion of total cost to the quantity of manufactured goods. The sum of the fixed cost and the variable cost is referred to as the total cost, which is also known as the unit cost. As a result, Average Cost is calculated as Total Cost/Number of Units or (Fixed Cost + Variable Cost)/Number of Units.The total inventory purchased during the quarter, $113,300, is divided by the total inventory count during the quarter, 100, yielding a weighted average cost of $1,133 per unit.To learn more about average cost, refer to:
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materials requisition forms are used for ____. multiple select question. a.specifying the cost of materials to be ordered b.summarizing the cost of a job c. controlling the flow of materials into production d. making journal entries in accounting records
Materials requisition forms are used for controlling the flow of materials into production. Hence, option C is appropriate.
What is the meaning of Production?The process of mixing several inputs, both material and immaterial, to produce output is known as production. In a perfect world, this output would be a product or service that is useful to people and has value.
Producing something is the act of creating something out of components or raw resources. To put it another way, the production employs inputs to produce an output that is fit for consumption—a good or product that has value for a customer or end-user.
Hence, option C is correct.
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which of the following is a non manufacturing business where process costing would most likely be usedA tailoring shop.
A laboratory that tests water samples for lead
A furniture repair shop.
An auto body shop.
A beauty shop.
An establishment that examines water samples for lead. Because tested waters are produced uniformly in laboratories, process costing is used there.
A non-manufacturing firm is any enterprise that relies on the sale of goods to generate revenue. This might be a law firm, a school, or a medical facility. Nevertheless, it does not demonstrate how brief interruptions in supply affect the general usefulness of appliance use (the utility of battery-operated appliances, for example, would not be significantly affected by short-term interruptions). Non-manufacturing business use: AEMO determined that population, household disposable income, and heating and cooling requirements are the (non-price) determinants of electricity consumption by non-manufacturing business usage.
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There are approximately 3,000 bass in a lake. The population grows at a rate of 2% per year.
The population of bass in a lake is an example of a biological population that can be modeled using population growth models. In this scenario, the initial population of bass is 3,000, and it is growing at a rate of 2% per year.
To calculate the size of the population after one year, we can use the formula:
[tex]N = N0 * e^(rt)[/tex]
where N is the final population size, N0 is the initial population size, e is the mathematical constant 2.71828..., r is the annual growth rate expressed as a decimal (in this case, 0.02), and t is the time period in years.
Plugging in the values for this scenario, we get:
[tex]N = 3,000 * e^(0.02*1)[/tex]
N = 3,061.37
Therefore, after one year, the population of bass in the lake would be approximately 3,061.
We can continue this calculation for subsequent years to see how the population grows over time. For example, after two years, the population would be:
N = 3,000 * e^(0.02*2)
N = 3,124.7
And after five years, the population would be:
N = 3,000 * e^(0.02*5)
N = 3,418.28
It's important to note that this population growth model assumes certain conditions, such as unlimited resources and ideal conditions for growth. In reality, there may be limiting factors that prevent the population from growing at this rate indefinitely. Nonetheless, this model can provide valuable insights into population dynamics and help inform management strategies for the lake and its ecosystem.
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All of the following are advantages associated with using QuickBooks Online Vendors List except: Multiple Choice-Allows the company to store information regarding its vendors including: name, address, and contact information, -Allows a company to assess the quality of the material received from each vendor. -It is a time-saving feature. -QuickBooks Online automatically transfers the vendor information to the appropriate form, such as checks.
All of the following are advantages associated with using QuickBooks Online Vendors List except Allows a company to assess the quality of the material received from each vendor. Thus, option B is correct.
Who are the Vendors?A Vendor buys items and afterward offers them to another business or person. Merchants can be used at various spots in the production network, and with numerous events all through.
The materials will be based on the way the person will be providing them. They will need to make sure the quality is maintained. A person will be liable to make sure that the person sends good quality goods. The sentry needs to be manually present.
Therefore, option B is correct.
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3. Discuss how a new brand/product/service manufacturer would go about defining their market segments and then begin to target them.
When introducing a new brand, product, or service, it is essential to define the target market segments that are most likely to be interested in and benefit from what you offer. Here are the steps a new brand/product/service manufacturer could take to define their market segments and begin to target them:
Conduct market research: The first step is to conduct thorough market research to understand the needs, wants, and preferences of potential customers. This research can involve surveys, focus groups, and interviews to gather insights on customer behavior, preferences, and buying patterns. This data can help in identifying potential customer groups, their demographics, and psychographics.
Analyze customer data: Analyzing customer data such as purchase history, customer profiles, and feedback can provide valuable information about the type of customers who are most interested in the product or service. This information can help in understanding their behavior and preferences.
Identify potential segments: Based on the research and data analysis, the manufacturer can identify potential market segments with similar characteristics, preferences, and behaviors. These segments can be based on demographics (age, gender, income, etc.), psychographics (lifestyle, values, attitudes, etc.), or both.
Evaluate the segments: The manufacturer can then evaluate each segment's potential by analyzing its size, growth rate, and profitability. This analysis can help to prioritize the segments to focus on.
Develop a positioning strategy: Based on the segments' needs and preferences, the manufacturer can develop a positioning strategy that communicates the product or service's unique benefits and value proposition to each segment.
Develop a marketing mix: The manufacturer can then develop a marketing mix that includes product features, pricing, promotion, and distribution that caters to each segment's needs and preferences.
Monitor and adjust: Finally, the manufacturer should regularly monitor the market and adjust their targeting and positioning strategies based on changing customer needs and preferences.
It is important to note that the manufacturer should not limit themselves to one segment only. They should also consider other segments that might be interested in their product or service. However, they should prioritize their marketing efforts based on the most profitable segments.
because we import more than we export, net blank are a blank component of gdp. multiple choice question. exports, negative imports, positive imports, negative exports, positive
Net imports are a negative component of GDP. This is because when you import more than you export, the excess imports is subtracted from the total economic output. Therefore, net imports are a negative component of GDP.
What is GDP?Gross Domestic Product (GDP) is a measure of the total economic activity within a country over a given period of time. It is calculated by adding up the total value of all goods and services produced in a country over the course of a year. GDP is used to measure the overall size and health of a country’s economy, track changes in economic activity, and compare the relative size and economic output of two or more countries. GDP can also be used to compare the economic performance of different years. GDP is considered to be one of the most important economic indicators, and is closely watched by governments, economists, and investors.
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Refer to the three demand curves shown for electric cars. Which of the following would shift the demand for electric cars from D1 to D3?
a)
a decrease in the price of electric guitars.
b)
a decrease in the price of gasoline.
c)
an increase in the price of electric cars.
d)
an increase in the price of gasoline.
mention the three electric car demand peaks and valleys. Which of the following factors would lead the demand for electric cars to shift from D1 to D3.
What is the Greek word of electric?
Think about the three electric car demand curves. What of the following would lead demand for electric vehicles to shift from D1 to D3?
What does the word "electric" mean in Greek?
From the Greek word "elektron," "electricity" is derived. Amber, a stone that is either yellow or reddish-brown and used in jewelry, is the definition of the term electron. It was possible to raise light materials like straw and feathers when amber was rubbed because it acquired an electrical charge.
While the term "electronics" refers to the flow of electrons, "electrical" refers to the passage of electrical power or charge.
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hen landlords are prevented by cities from charging market rents, which of the following listed outcomes are common in the long run? check all that apply. nonprice methods of rationing emerge. the quality of rental housing units falls. black markets develop. the quantity of available rental housing units falls.
Common long-term results include the following: The quality of rental housing decreases as non-price rationing techniques emerge.
What is non-price rationing?When the government restricts the quantity that a person can eat, this is known as non-price rationing. The government may limit how many gallons a person can consume, for instance, during times of crisis that affect a nation's gas supply.Rationing of those goods and services that doesn't depend on market prices or consumer willingness to pay is known as non-market or non-price rationing. Queuing for rations is an example of this that is prevalent (household groceries).Rationing is the restriction of highly sought-after and seldom available commodities and services. Governments frequently engage in it as a strategy to address economic difficulties and lessen the effects of shortage.To learn more about non-price rationing, refer to:
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2. As a student, you have individual experiences with your university. These may include managing the application process, enrolling, orientation, registering for courses, and many more. Conduct a SWOT analysis for your school from your perspective. Discuss how your SWOT analysis would provide strategic insight for future decisions at your university.
Answer:
Difine Tissue.write its types
FILL IN THE BLANK _____involves a binding contractual agreement between a firm and another firm or individual whereby the business name and format have already been developed by the originating firm.
Franchising involves a binding contractual agreement between a firm and another firm or individual whereby the business name and format have already been developed by the originating firm.
What is franchising business arrangement all about?A franchise (or franchising) is a method of distributing products or services that involves a franchisor, who establishes the brand's trademark or trade name as well as a business system, and a franchisee, who pays a royalty and, in many cases, an initial fee for the right to do business under the franchisor's name and system.
The "franchise" technically refers to the contract that binds the two parties, but it is more commonly used to refer to the actual business that the franchisee operates. The practice of developing and distributing a brand and franchise system is known as franchising.
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Which of the following is true?Select one:a. The existence of generally accepted accounting principles (GAAP) virtually eliminates the need for professional judgment except in very unusual circumstances.b. Federal securities laws regarding the issuance of misleading financial statements apply not only to the independent auditors, but to management of the company as well.c. Attaining a passing score on the part of the Uniform CPA Examination that covers professional ethics is evidence of integrity and commitment to ethical conduct.d. A professional accountant should resign his position rather than become involved in the distribution of financial statements indicating insolvency.a. Zero.b. $11,750.c. $ 7,250.d. $11,000.
An investment in a company is a security. It can come in the shape of stock or bond shares, a bundle of loans or mortgages that a financial institution is selling, or a financial instrument that represents an investment in a business or a global initiative.
Securities law is divided into three categories: transactional, regulatory, and litigious. For example, if a number of loans are bundled together and sold to a financial institution or investment group as a security (i.e., when investors file a lawsuit against an issuer of a security alleging fraud in connection with its purchase or sale).
The issue of securities is governed by both state and federal laws.
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Which of the following statements about creativity is true? A) Employees tend to be more creative if a tight deadline is set. B) Using something in a new or improved way is a creative trait. c) Creativity and academic excellence are closely linked. D) The fundamental unit of creative value in business is artistic ability. E) Creativity is an inborn trait that cannot be developed or nurtured.
The correct option D) The fundamental unit of creative value in business is artistic ability.
Explain about the artistic ability in business?Similar to business owners, artists also need to enter the market to sell their goods or ideas.
Artists must have (at the absolute least) fundamental business abilities and be prepared to approach the sale of their work like an entrepreneur in attempt to do this.Every entrepreneur researches the consumer behaviour of their market. They are aware of the prices, locations, timing, and frequency of purchases that their target audiences have willing to make. This information should also be known by an artist.For instance, they are aware that purchasers at regional art fairs would differ from those at trade fairs or galleries. You'll be better equipped to stay on top of demand, price the work, and decide where or how to spend your valuable time selling if you identify your audience early on and reevaluate frequently.Thus, the following assertions regarding creativity are accurate: Artistic talent is the primary component of creative value in business.
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I need a second opinion on this one. Answered the questions, but not really sure if they are correct. Please see attachment.
For part b. Adjusted Gross Income = 90,285 less 1, 020 (Qualified dividends)
=89, 265
multiply by tax rate x 24%
tax liability 21,423.60
You are correct in your calculations for part b. Here is a step-by-step explanation of how you arrived at your answer:
1. Start with your Adjusted Gross Income (AGI) of $90,285.
2. Subtract your Qualified Dividends of $1,020 from your AGI. This gives you $89,265.
3. Multiply your new AGI of $89,265 by your tax rate of 24%. This gives you $21,423.60.
4. Your tax liability is $21,423.60.
Your calculations and final answer are correct. Great job!
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The purchasing power of money:
A) decreases as the price level decreases.
B) is not impacted by inflation, only by monetary policy.
C) rises when inflation rises.
D) decreases with inflation.
D) As a result of inflation, money starts to have less value as a means of exchange.
Inflation: What is it?The term "inflation" in economics is used to denote an increase in a country's overall cost of goods and services. As the overall price level rises, each unit of currency may be used to purchase fewer products and services, which results in a decrease in the purchasing power of money.
The fall in the general level of pricing for goods and services is known as deflation, which is the reverse of inflation. The most popular method of measuring inflation is the inflation rate, which is the annual percentage change in a general price index. The consumer price index (CPI) is frequently employed for this purpose because household costs do not regularly increase. Moreover, there is the employment cost index.
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starbucks is hoping to make use of its excess restaurant capacity in the evenings by experimenting with selling beer and wine. it speculates that the only additional costs are hiring more of the same sort of workers to cover the additional hours and costs of the new line of beverages. which of the following are examples of hidden costs that are likely to emerge from this decision? check all that apply.
Examples of hidden costs that could result from Starbucks' plan to sell beer and wine include the following: the increased costs associated with using utilities like electricity and gas more frequently at night, increased insurance costs as a result of the coffee shop's alcohol policy.
which of the following are examples of hidden costs that are likely to emerge from this decision?Hidden costs are expenses that are not immediately obvious or accounted for in a project's or decision's original estimate. They might appear as unintended results of a certain action and can significantly affect a venture's total cost and profitability. Indirect expenses like higher insurance premiums, higher electricity bills, and worse staff morale are examples of hidden costs. Less intangible expenditures like equipment upkeep, repair, and replacement are also possible. When making decisions, it is crucial for businesses to take into account hidden costs in order to fully grasp the financial repercussions of their choices.
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given the following information, calculate break-even volume in sales dollars: selling price per unit $20 variable cost per unit $12 fixed costs $1,000
If the selling price per unit be $150.00 and variable cost per unit $120.00 then the profit be $2,000.
What is meant by profit?Profit is a word that's frequently used to refer to the monetary benefit that a company has when its income exceeds its costs and expenses.
Profit is the amount of money you have after covering business expenses. Gross, operational, and net profits are the three basic categories of profit. The largest profit is gross.
Total revenue less complete expenses equals profit. It reveals your company's earnings after expenses. Profit is a crystal-clear indicator of how your firm is operating and performing in the market because the main objective of every business is to make money.
Given:
Selling price per unit $150.00
Variable cost per unit $120.00
Fixed costs $1,000
Number of units 100
Let the equation of profit be
Profit = (P - V)X - F
Substitute the values in the above equation, we get
= ($150 - 120) x 100 - $1,000
simplifying the above equation, we get
= $2,000
Therefore, the profit be $2,000.
The complete question is:
Given the following information, calculate profit:
Selling price per unit $150.00
Variable cost per unit $120.00
Fixed costs $1,000
Number of units 100
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Fill in the blank: When creating a work breakdown structure (WBS), a project manager should focus on _____ rather than actions.
a. deliverables
b. stakeholder needs
c. timeline
d. teammate strengths
When creating a work breakdown structure (WBS), a project manager should focus on deliverables rather than actions.
What is the work breakdown structureThe work breakdown structure (WBS) is a hierarchical decomposition of a project into smaller, more manageable components or tasks. It is a tool used by project managers to organize and structure the work required to complete a project.
The WBS breaks down the project work into smaller, more manageable parts, which are then grouped into deliverables, work packages, and tasks. Each level of the hierarchy represents a more detailed and specific level of work, and each component is typically assigned to a specific team member or group.
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Market researchers interviewed a random sample of 60 men and a random sample of 55 women about their preferences for different color designs for the packaging of a certain product. Of those interviewed, 23 men and 28 women preferred color design x.
The correct option is E. The correct test statistic for a two-sample z-test for a difference in population proportions for men and women (men minus women) in their preference for color design X
Here we have,
n1=60 n2= 55
X1= 23 X2= 28
P1= X1/n1= 23/60= 0.38
P2= X2/n2 = 28/55 = 0.51
[tex]P= \frac{X1+X2}{n1+n2}[/tex] = [tex]\frac{23+25}{60+55} = \frac{48}{115} = 0.44[/tex]
[tex]z= \frac{P1-P2}{\sqrt{P(1-P)(\frac{1}{n1}+\frac{1}{n2}) } } \\\frac{0.38-0.51}{\sqrt{0.44(1-0.44)(\frac{1}{60}+\frac{1}{55}) } }\\[/tex]
In business, a market refers to the group of potential customers or consumers who are interested in a particular product or service and are willing to pay for it. It is a place where buyers and sellers come together to exchange goods and services for money or other forms of value.
Markets can be physical or virtual and can be segmented based on various factors such as geography, demographics, psychographics, behavior, and needs. Understanding the market is critical for businesses to develop effective marketing strategies, determine to price, and make informed decisions about product development and expansion.
In order to succeed in a market, businesses need to identify their target audience, analyze their competitors, and create a unique value proposition that differentiates them from others. They must also continuously monitor and adapt to changing market conditions, customer preferences, and emerging trends to stay competitive and relevant.
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Complete Question:
Market researchers interviewed a random sample of 60 men and a random sample of 55 women about their preferences for different color designs for the packaging of a certain product. Of those interviewed, 23 men and 28 women preferred color design X.
Which of the following is the correct test statistic for a two-sample z-test for a difference in population proportions for men and women (men minus women) in their preference for color design X?
a 99 percent one-sample z-interval for a proportion will be created from the point estimate obtained from each of two random samples selected from the same population: sample r and sample s. let r represent a random sample of size 1,000, and let s represent a random sample of size 4,000. if the point estimate obtained from r is equal to the point estimate obtained from s, which of the following must be true about the respective margins of error constructed from those samples?
The error margin for R will be twice as large as the error margin for S.
What is proportion?A ratio that connects a part to a whole is a percentage. For instance, there are 100 students in the class with 20 men and 80 women. The percentage of men is 20/100, or 20%. 80 out of 100, or 80%, are women. relative magnitude or extent; ratio; the relationship between several entities or components in terms of comparative size, number, or degree. the right or ideal relationship between components of a whole; symmetry or balance.An equation known as proportion shows that the two ratios presented are equal to one another. In other terms, the proportion declares that the two ratios or fractions are equal.Use the formula for standard error, which is√p(1-p)/n.
Use . 5 for p. Apply it to samples S and R. The SE is 0.007906 for S. R's SE is 0.015811, which equals 2 when divided by 0.007906. R will have a wider margin of error because it has a lower sample size. Hence, it is twice as much as S. Herr Crane
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the price of a call option tends to be lower when which of the following is higher (all else equal)? multiple choice the expected volatility of the underlying stock
The price of a call option tends to be higher when the expected volatility of the underlying stock is higher (not lower), all else equal. The reason for this is that the value of an option is directly related to the volatility of the underlying asset, as higher volatility increases the likelihood that the option will end up "in the money" (i.e., profitable for the option holder).
When the expected volatility of the underlying stock is higher, the potential for larger price movements is greater, which means that the option has a higher probability of being profitable. As a result, investors are willing to pay more for the option, which leads to a higher price.
Answer:
The price of a call option tends to be lower when the expected volatility of the underlying stock is lower, all else equal.
Journal Entries and Trial Balance
On October 1, 20Y6, Jay Pryor established an interior decorating business, Pioneer Designs. During the month, Jay completed the following transactions related to the business:
Oct. 1. Jay transferred cash from a personal bank account to an account to be used for the business, $27,600.
4. Paid rent for period of October 4 to end of month, $2,680.
10. Purchased a used truck for $23,000, paying $2,000 cash and giving a note payable for the remainder.
13. Purchased equipment on account, $10,760.
14. Purchased supplies for cash, $1,850.
15. Paid annual premiums on property and casualty insurance, $4,140.
15. Received cash for job completed, $11,590.
Enter the following transactions on Page 2 of the two-column journal:
21. Paid creditor a portion of the amount owed for equipment purchased on October 13, $3,840.
24. Recorded jobs completed on account and sent invoices to customers, $13,190.
26. Received an invoice for truck expenses, to be paid in November, $1,210.
27. Paid utilities expense, $1,380.
27. Paid miscellaneous expenses, $500.
29. Received cash from customers on account, $5,520.
30. Paid wages of employees, $3,670.
31. Withdrew cash for personal use, $3,060.
Required:
1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the following chart of accounts in selecting the accounts to be debited and credited. (Do not insert the account numbers in the journal at this time.) Journal entry explanations may be omitted. If an amount box does not require an entry, leave it blank.
11 Cash 31 Jay Pryor, Capital
12 Accounts Receivable 32 Jay Pryor, Drawing
13 Supplies 41 Fees Earned
14 Prepaid Insurance 51 Wages Expense
16 Equipment 53 Rent Expense
18 Truck 54 Utilities Expense
21 Notes Payable 55 Truck Expense
22 Accounts Payable 59 Miscellaneous Expense
General Journal Page 1
Date Description Post. Ref. Debit Credit
20Y6 Oct. 1 Oct. 4 Oct. 10 Oct. 13 Oct. 14 Oct. 15 Oct. 15 General Journal Page 2
Date Description Post. Ref. Debit Credit
20Y6 Oct. 21 Oct. 24 Oct. 26 Oct. 27 Oct. 27 Oct. 29 Oct. 30 Oct. 31
Journal entries are used to document business activities as they take place every day. They display the accounts involved in each transaction as well as the ones that will be credited or debited depending on the circumstances.
Journal entries for the following transactions:
Date Account Titles Debit Credit
Oct. 1 11 Cash $27,600
31 Common Stock $27,600
To record the transfer of cash for common stock.
Oct. 4 53 Rent Expense $2,680
11 Cash $2,680
To record the payment of October rent.
Oct. 10 18 Truck $23,000
11 Cash $2,000
21 Notes Payable $21,000
To record the purchase of truck for cash & with a note for the remainder.
Oct. 13 16 Equipment $10,760
22 Accounts Payable $10,760
To record the purchase of equipment on account.
Oct. 14 13 Supplies $1,850
11 Cash $1,850
To record the purchase of supplies for cash.
Oct. 15 14 Prepaid Insurance $4,140
11 Cash $4,140
To record the prepayment of annual insurance premium.
Oct. 15 11 Cash $11,590
41 Fees Earned $11,590
To record the receipt of cash for job completed.
Oct. 21 22 Accounts Payable $3,840
11 Cash $3,840
To record the part-payment on account.
Oct. 24 12 Accounts Receivable $13,190
41 Fees Earned $13,190
To record the jobs completed and billed to customers.
Oct. 26 55 Truck Expense $1,210
22 Accounts Payable $1,210
To record the receipt of invoice for truck expenses.
Oct. 27 54 Utilities Expense $1,380
11 Cash $1,380
To record the payment of utilities expense.
Oct 27 59 Miscellaneous Expense $500
11 Cash $500
To record the payment of miscellaneous expense.
Oct. 29 11 Cash $5,520
12 Accounts Receivable $5,520
To record the receipt of cash from customers on account.
Oct. 30 51 Wages Expense $3,670
11 Cash $3,670
To record the payment of wages.
Oct. 31 33 Dividends $3,060
11 Cash $3,060
To record the payment of dividends to stockholders.
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D. Financial Management 1. Introduction: Introduction: Background of the paper, Purpose of the paper and Methodology used 2. Review of related literature 3. Results and discussions: Make the critical analysis and discussion on the following points: 3.1 The objectives of financial management in the organization 3.2 The functions of the financial manager in the organization 3.3 Financial statement analysis: Use financial ratios 3.4 Capital budgeting 3.5 Other related issues can be added (optional) 4. Conclusions and recommendations 5. References
Objective of financial management in the organization is increased sales and the higher earnings. Producing accurate financial data was the functions of the financial manager in the organization.
What is financial management?The term financial management refers to the handling of the company finance as well as the manage the expenses, cash, and credit, profitability. The process is planning, organizing, directing, and controlling of the company finance.
The objective of financial management is:
Increase profit and the sales.Investment objectives.Functions of financial manager:
Monitoring cash flow.Producing accurate financial data.Financial ratio analysis:
Relationship between two or more componentsDecision-making of the long term investment is called the capital budgeting.
Other related issues:
Investment is risk, better result or not.As a result, the concluded of the Financial Management are the aforementioned.
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consider the following four nations listed below. which economy started 1960 with a level of real income per person of well below that of the united kingdom and grew fast enough to catch up with and surpass the united kingdom's real income per person by 2010? a. Austria
b. Botswana
c. Honduras
d. Malaysia
GREEN LAWNS, INC.
ADJUSTED TRIAL BALANCE
DECEMBER 31, CURRENT YEAR
Cash $218,640
Accounts receivable 10,800
Supplies 720
Equipment 28,800
Accumulated depreciation: equipment $ 12,000
Accounts payable 3,600
Income taxes payable 8,400
Capital stock 60,000
Retained earnings 108,000
Dividends 4,800
Lawn care revenue earned 230,400
Salary expense 124,800
Supply expense 2,880
Advertising expense 720
Depreciation expense: equipment 2,400
Income taxes expense 27,840
$422,400 $422,400
Refer to the adjusted trial balance of Green Lawns, Inc., illustrated in Exercise 5.2 to respond to the following items. (shown above)
1. Prepare all necessary closing entries at December 31, current year.
2. Prepare an after-closing trial balance dated December 31, current year.
3. Compare the Retained Earnings balance reported in the after-closing trial balance prepared in part b to the balance reported in the adjusted trial balance. Explain why the two balances are different. (Include in your explanation why the balance reported in the after-closing trial balance has increased or decreased subsequent to the closing process.)
1. Closing Entries at December 31, current year:
Debit Credit
Income Summary 230,400
Salary Expense 124,800
Supply Expense 2,880
Advertising Expense 720
Depreciation Expense 2,400
Income Taxes Expense 27,840
Dividends 4,800
Retained Earnings 127,800
Income Summary 127,800
2. After-Closing Trial Balance December 31, current year:
Debit Credit
Cash 218,640
Accounts Receivable 10,800
Supplies 720
Equipment 28,800
Accumulated Depreciation-Equipment 12,000
Accounts Payable 3,600
Income Taxes Payable 8,400
Capital Stock 60,000
Retained Earnings 127,800
3. The Retained Earnings balance reported in the after-closing trial balance is different from the balance reported in the adjusted trial balance because the closing process transfers the income or losses of the current period to the Retained Earnings account. Thus, the Retained Earnings balance has increased by $19,800 (from $108,000 to $127,800) due to the closing process.
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2. As a student, you have individual experiences with your university. These may include managing the application process, enrolling, orientation, registering for courses, and many more. Conduct a SWOT analysis for your school from your perspective. Discuss how your SWOT analysis would provide strategic insight for future decisions at your university.
The SWOT analysis can help the university identify its internal strengths and weaknesses, as well as external opportunities and threats, which can be used to develop a comprehensive strategy for its future growth and success.
What can SWOT analysis offer?SWOT analysis is a strategic management tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats of an organization. A SWOT analysis for my university from my perspective is as follows:
Strengths:
Strong academic reputation and faculty
Wide range of academic programs and majors
Good campus infrastructure and facilities
Active and diverse student body
Good career services and alumni network
Weaknesses:
High tuition fees and student debt
Inefficient administration processes, especially during peak times like registration
Limited availability of financial aid and scholarships
Limited course availability, particularly for non-major courses
Lack of diversity in the faculty
Opportunities:
Growth in online education and distance learning
Expansion of international student enrollment
Increased partnerships with businesses and organizations
Increase in research funding and collaboration
More opportunities for internships and experiential learning
Threats:
Competition from other universities and colleges
Reduction in state funding for higher education
Increasing demand for alternative education options, like trade schools or apprenticeships
Negative publicity due to controversies or scandals
Economic recessions affecting enrollment and financial aid availability
The SWOT analysis provides strategic insights that can help the university make informed decisions. For example, the university can capitalize on its strengths by investing in student services, such as academic advising or mental health counseling. It can also address its weaknesses by streamlining its administrative processes and increasing its financial aid offerings.
In terms of opportunities, the university can explore innovative ways of providing education, such as through online programs, or by developing partnerships with businesses and organizations to provide students with more experiential learning opportunities. Additionally, the university can expand its research initiatives to attract more funding and increase its reputation.
The university can mitigate the threats by diversifying its revenue streams, for example by expanding its fundraising initiatives or exploring corporate sponsorships. It can also work on improving its image and handling controversies or scandals more effectively to protect its reputation. Overall, the SWOT analysis can help the university identify its internal strengths and weaknesses, as well as external opportunities and threats, which can be used to develop a comprehensive strategy for its future growth and success.
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Indicate whether a debit will increase (I) or decrease (D) each of the following accounts listed in items 1 through 15. Account Increase (l) or Decrease (D) Inventory - ni o Depreciation expense Accounts payable Prepaid rent w Sales revenue o Common stock Salaries and wages payable Cost of goods sold o o Utility expense Equipment Accounts receivable = 3 Utilities payable Rent expense Interest expense Interest revenue
Inventory (asset account: generally a debit balance) (asset account: normally a debit balance) Fixed resources (asset account: normally a debit balance) Receipts to be made (liability account: normally a credit balance).
Which of the subsequent accounts gets bigger when there's a debit?Debits raised accounts. The following account types will grow when there is a debit: Assets (Cash, Accounts receivable, Inventory, Land, Equipment, etc.) (Cash, Accounts receivable, Inventory, Land, Equipment, etc.) Costs (Rent Expense, Wages Expenditure, Interest Expense, etc.) (Rent Expense, Wages Expense, Interest Expense, etc.) Losses (Loss on the sale of assets, Loss from a litigation, etc.) (Loss on the sale of assets, Loss from a lawsuit, etc.)
Accounts payable are increased or decreased by a debit?The accountant debits accounts payable once the bill is paid to reduce the liability amount. The cash account is given the offset credit, which likewise reduces the cash balance.
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all of the following are steps in the aida model except question 3 options: awareness intention action desire interest
all of the following are steps in the AIDA model except intention. Thus the correct option is B,
What is the AIDA model?The term AIDA is an acronym for Attention, Interest, Desire, and Action model considered as a model of advertising in order to persuade the customer to make a decision related to buying by pitching them effectively.
The AIDA Model highlights the intellectual phases a person experiences when making a purchase decision for a good or service. This path influences how a customer makes decisions about buying.
Therefore, option B is appropriate.
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