Ethanol is the most controversial form of alternative energy after nuclear power.
What is energy?Energy is the capacity for doing work, which can take a range of forms, such as kinetic energy, potential energy, thermal energy, electrical energy, chemical energy, nuclear energy, and other forms. It is an essential component of the universe, as it is found in all forms of matter and can be converted from one form to another.
This is because the production of ethanol involves converting food sources, such as corn, into fuel, which can lead to higher food prices and a decrease in food availability. Additionally, while ethanol is considered a renewable energy source, it is less efficient than many other forms of alternative energy, such as solar or wind power, and can produce more carbon dioxide than traditional fossil fuels.
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true/false. one of the growers is pleased with the price increase caused by the pests because he believes it will lead to increased revenue. using elasticities, you will be able to determine whether this price change will lead to a rise or fall in total revenue in this market.'
The answer is true, one of the growers is pleased with the price increase caused by the pests because he believes it will lead to increased revenue. using elasticities, you will be able to determine whether this price change will lead to a rise or fall in total revenue in this market.' is true.
Which definition of a market is most accurate?In order to expedite the exchange or transaction of products and services, buyers and sellers can come together in a market. A market may be actual, like a real store, or it may be virtual, like an online retailer.
In one words, define a market.Market refers to an arrangement where two or more parties trade commodities, services, and information. A market is ideally a location where two or more parties engage in buying and selling.
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Which of the following is a demographic segmentation variable? A. lifestyle. B. motivation. C. gender. D. market size. E. population shifts.
Gender is a demographic segmentation variable. Hence, option C is correct.
What is demographic segmentation variable?An organization's target market is segmented using the market segmentation technique known as demographic segmentation based on demographic factors like age, gender, education, income, etc. It aids businesses in comprehending their clientele so that their requirements can be better met.
Marketing professionals employ segmentation characteristics to divide their audience into various groups. The four basic categories of segmentation factors are behavioral, psychographic, geographic, and demographic characteristics.
Thus, option C is correct.
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let's consider some differences between providing services and manufacturing goods. select the three statements from the following list that are true. group of answer choices there is less customer contact in service provision than goods manufacture goods manufacture tends to use more labor than service provision it's typically harder to measure productivity in the manufacture of goods than the provision of services outputs from the manufacture of goods tend to be more uniform than those from the provision of services it's typically harder to correct quality problems when providing services than manufacturing goods inputs are more uniform in goods manufacture than in service provision
Goods manufacture tends to use more labor than service provision, Inputs are more uniform in goods manufacture than in service provision statements from the following list are true.
What are differences between providing services and manufacturing goods?
Services are ephemeral, intangible goods that are frequently ideas, concepts, or information. Produce that can be made, stored, and delivered in preparation of future need is referred to as manufactured products. Service cannot be created. The majority of consumers of produced goods have little or no interaction with the producing process. Services are less transferable than products, therefore some businesses focus only on selling used goods. As commodities are physical objects, depending on the terms of the purchase agreement, you can frequently return or exchange them. While it is occasionally possible to request a refund after making a service purchase but before to receiving it, once you have used a service, it cannot be returned.
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The information on the label of some food products includes _____ dating that helps the consumer determine freshness. This is a one word answer.O openO personalO seller
O full
Answer:
Open
Explanation:
The term used for this type of dating is "open dating", which refers to the use of a calendar date on a food product to help the consumer determine its freshness.
Which of the following best represents the effects of a decrease in the price of tomato juice, other things being equal?
a. a downward movement along the demand curve for tomato juice
b. a rightward shift in the demand curve for tomato juice
c. an upward movement along the demand curve for tomato juice
d. a leftward shift in the demand curve for tomato juice
The benefits of a decrease in the price of tomato juice are best captured by the downward movement along the demand curve, other things being equal.
What is meant by demand curve?The demand curve is a graphical depiction of the connection between the cost of a commodity or service and the amount demanded over a specific time period. A common representation will have the price on the left-hand vertical axis and the amount needed on the right-hand horizontal axis. The functional connection between the price of a commodity and its demand is explained by the law of demand. The demand curve is the most significant illustration of this relationship. This curve is usually downward sloping because of the inverse relationship between price and demand.Because people purchase more goods at cheaper prices, the demand curve slopes downward. The decreasing slope of the demand curve results from the inverse relationship between price and quantity desired.Therefore, the correct option is a) a downward movement along the demand curve for tomato juice
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After the revenue and expense accounts of R. Gill Quick Delivery Co. are closed, the Income Summary account has a debit entry of $14,000, and a credit entry of $11,000. The journal entry to close income summary includes which of the following entries:
debit to R. Gill, Capital for $3,000
credit to income summary for $3,000
All the given options are applied. The correct answer is:
Debit to R. Gill, Capital for $3,000
Credit to Income Summary for $3,000
How did we arrive at this assertion?Based on the information provided, the revenue exceeded expenses, resulting in a net income of $3,000 ($14,000 - $11,000).
To close the Income Summary account and transfer the net income to the owner's equity account, R. Gill, Capital, the following entry should be recorded:
Debit R. Gill, Capital for $3,000
Credit Income Summary for $3,000
Therefore, the correct answer is:
Debit to R. Gill, Capital for $3,000
Credit to Income Summary for $3,000
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which of the following are examples of what can function as the first stage in rational decision making by managers?
Bad product quality, revenue declines, and customer complaints are a few instances of what can serve as the starting point for managers to make sensible decisions.
What is a revenue?The entire income from sales of goods and services that are directly connected to a company's primary business operations is referred to as revenue in the context of accounting. Sales or turnover are other terms for commercial revenue. Several firms derive their money through interest, royalties, and other charges.
In the sentence "Last year, Business X had revenue of $42 million," "revenue" can refer to income in general or the total amount earned over a certain period of time, represented in a unit of currency. Profits or net income are sometimes defined as total revenue minus total expenses for a certain time frame.
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true/false. the natural state of a market where network effects are present is for there to be intense competition between several rivals that come to an equalibrium where their respective market shares are roughly identical.
The statement the natural state of a market where network effects are present is for there to be intense competition between several rivals that come to an equilibrium where their respective market shares are roughly identical is: False.
What is the natural state of a market?The natural state of a market where network effects are present is for there to be a winner-takes-all dynamic, in which one company gains a significant advantage and dominates the market. This is because network effects create a self-reinforcing cycle in which the value of a product or service increases as more people use it, making it more attractive to new users and further increasing its dominance.
As a result, it is difficult for new entrants to compete and gain market share, leading to a market with one dominant player rather than several rivals with roughly identical market shares.
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suppose bus ridership in sacramento rose by 10 percent after a fare decrease of 50 cents to $2.00. using the midpoint method, what is an estimate of the absolute value of the price elasticity of demand for bus rides? 0.62 1.14 0.96 correct! 0.45
For individual consumption, the demand for bus rides has a cross elasticity of demand with respect to gasoline of 0.2, an income elasticity of demand of -0.1, and a price elasticity of demand of 0.5.
What is price elasticity?Price elasticity evaluates how responsively demand or supply for a good is to a change in price. It is calculated by dividing the percentage change in the quantity that is required (or delivered) by the percentage change in the price.The amount of a product's demand has increased 15% in response to a 10% price reduction if the price elasticity is equal to 1.5. Demand is essentially inelastic at a -0.5 income elasticity. When a product must be purchased regardless of price, this occurs.When the price elasticity of supply is equal to 4, it signifies that a 1% rise in the price of goods has resulted in a 4% increase in the quantity supplied.To learn more about price elasticity, refer to:
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Which of the following accounts should always have a zero balance at the end of each accounting period?
a.Finished Goods
b.Raw Materials Inventory
c.Manufacturing Overhead
d.Work-in-Process
To document accounting activities for a certain time period, temporary accounts are employed. Because they are reported in specific time periods and do not carry over to subsequent periods, all income and cost accounts must have a zero balance account at the conclusion of the period.
What is zero balance account?A zero balance account is a method of pooling cash in finance. This strategy is intended to leave in the current accounts of the subsidiaries the bare minimum needed to pay off their contracted debts. This system's key benefit is its ability to centralise money so that it can be invested at higher interest rates. An account with zero balance but no charges is referred to as a zero-balance account. In accordance with RBI guidelines, it is formally referred to as a Basic Savings Bank Deposit (BSBD) account. The purpose of the facility is to encourage people to save more money.
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T/F. To be within the scope of employment, the agent's conduct must have been completely motivated by the desire to serve his employer.
The given statement "the agent's actions have to be solely motivated by a desire to help his employer for them to be considered to be within the scope of employment" is FALSE.
Who is an employer?An employer is, more particularly, a company, institution, government body, agency, professional services firm, nonprofit organization, small business, retailer, or individual who hires or otherwise places people who may be referred to as employees or staff members to work.
The agent's actions must not have been solely driven by a desire to please his employer in order for them to fall inside the purview of their employment.
The primary distinction between an employer and an employee is who owns the business and provides the jobs for employees, whilst an employee works for the company and receives compensation.
Therefore, the given statement "the agent's actions have to be solely motivated by a desire to help his employer for them to be considered to be within the scope of employment" is FALSE.
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Which of the following causes a surplus of a good?
a) a binding price floor.
b) a binding price ceiling.
c) a tax on the good.
d) More than one of the above is correct.
A binding price floor causes a surplus of a good. Thus, option a) is the correct answer.
What is price floor?
A price floor is a restriction on how low a price may be charged for a thing, commodity, service, or by the government or other entity. To be successful, a price floor needs to be greater than the equilibrium price. The price at which economic forces like supply and demand are balanced and, in the absence of outside influences, the (equilibrium) values of economic variables will not change is known as the equilibrium price, also known as the "market price." It is frequently described as the point at which quantity demanded and quantity supplied are equal (in a perfectly competitive market). To prevent particular prices from falling too low, governments utilise price floors.
Minimum wage legislation and supply management in Canadian agriculture are two frequent price floors.
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visit a local specialty retail store (e.g., sporting goods, cooking products, electronics) or look in your own kitchen/pantry and identify a generic product or commodity that might be "de-commoditized" and dif- ferentiated through innovation.
A commodity that might be de-commoditized and differentiated is cool max. This cool max is all-season technology which keeps the body warmer in winter and keeps the body cooler in summer.
How coolmax might be de-commoditized through innovation?Cool max is all-season technology which keeps the body warmer in winter and keeps the body cooler in summer. This helps the store to differentiate its offering from its competitors and it will also help in attracting more audience towards the product. So this is also a sort of innovation which has de-commoditized products.
Thus cool max might be de-commoditized through innovation.
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true/false. entrepreneur magazine ranks franchises. among the factors that the magazine uses in its rankings are growth rate, number of locations, start-up costs, and financial stability. a recent ranking listed the top 20 u.s. franchises and the number of locations as follows.
Entrepreneur magazine recently ranked the top 20 franchises in the United States, considering several factors such as growth rate.
Which are the top most franchises ?Start-up costs, number of locations, and financial stability. The number of locations was a key factor in the rankings, indicating the expansion and success of the franchises.
The top 20 franchises listed by Entrepreneur magazine in terms of number of locations were:
Subway - 23,801
McDonald's - 13,846
7-Eleven - 9,399
Dunkin' - 9,630
Pizza Hut - 7,416
Domino's Pizza - 6,603
KFC - 4,049
Taco Bell - 7,487
Sonic Drive-In - 3,645
UPS Store - 5,327
Circle K - 7,597
The Home Depot - 2,296
Burger King - 7,411
Wendy's - 5,872
Ace Hardware - 4,405
Great Clips - 4,484
Jersey Mike's Subs - 2,503
Chick-fil-A - 2,600
GNC - 3,484
RE/MAX LLC - 8,059
The rankings demonstrate the dominance of well-known fast-food chains such as Subway, McDonald's, Dunkin', and Pizza Hut. Other popular franchises, including UPS Store, Ace Hardware, and Great Clips, also made the list .
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On July 1, Squid Roe, Inc., collected cash in advance from a customer in July for services to be performed in July, August and September and recorded a debit to Cash and credit to Unearned Revenue for $3,000. Which of the following is the proper treatment of this event assuming monthly financial statements are prepared?
Financial statements are documents that describe a company's operations and financial performance. Government organizations, accounting companies, etc. frequently audit financial statements to guarantee accuracy and for tax, financing, or investing purposes. The balance sheet, income statement, statement of cash flow, and statement of changes in equity are the four basic financial statements for for-profit entities. A similar but distinct set of financial statements is used by nonprofit organizations.
Financial statements are written documents that describe an entity's operations and financial performance and are used to pay for investments and operational costs.
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data in a form of a series of letters, numbers, and other characters whose combined meaning does not depend upon a prespecified format or definition of individual items is called
Data in a form of a series of letters, numbers, and other characters whose combined meaning does not depend upon a prespecified format or definition of individual items is called unstructured data.
What is unstructured vs structured data?
Structured data is very specific and is kept in a set format, whereas unstructured data is a collection of many different forms of data that are kept in their original formats. Thus, structured data benefits from schema-on-write whereas unstructured data uses schema-on-read.
Datasets (often enormous collections of files) that aren't stored in a structured database format are simply referred to as unstructured. Although it is not established by data models, unstructured data does have an inherent structure. It could be created manually or automatically, in a textual or non-textual format.
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A project manager should ask open-ended questions when utilizing which of the following three interpersonal skills?
Negotiating
Empathetic listening
Trust Building
A project manager should ask open-ended questions when utilizing the interpersonal skill of Empathetic Listening. Option B is correct.
What is Empathetic Listening?It is a process to listening to the concerns, needs, and perspectives of others, and responding in a way that shows understanding and validation of their feelings. Asking open-ended questions can help the project manager better understand the thoughts and feelings of team members, stakeholders, and other project stakeholders.
Therefore, the focus of empathetic listening is often on achieving a specific outcome rather than simply understanding the perspectives and feelings of others.
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Can someone please double check this for me, thank you.
Answer:
good
Explanation:
a. the amount that Hue is required to include in gross for 2021 is $0 since it's all gifts which is right.
b. Dewy required $100,000 in gross for 2021 since that is when he died.
c. For Louie, the gross in 2021 is $0 because he just start receiving the beneficiaries.
In your own words, explain why Kurt Lewin, in his attempt to identify the set of skills that all great leaders possess, indicated that leadership is vulnerable.
Kurt Lewin's belief that leadership is vulnerable stems from his understanding that leadership is a complex and dynamic process that requires ongoing adaptation to changing circumstances.
What is Kurt Lewin's belief?He believed that great leaders possess a certain set of skills that allow them to navigate these challenges successfully, but also recognized that no leader is infallible or immune to failure.
Lewin understood that leadership is vulnerable to a range of internal and external factors that can impact a leader's effectiveness, including changes in organizational culture, shifting political and social trends, and unforeseen events that can disrupt even the best-laid plans.
As such, he emphasized the need for leaders to be resilient and adaptable, and to be constantly learning and evolving in order to stay ahead of the curve and remain effective in the face of new challenges.
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In May 2021, Reginald graduated from the Naval Academy with a degree in aeronautical engineering and was assigned to Pensacola, Florida as a permanent duty station. In his move to Pensacola, Reginald incurred the following costs: $450 in gasoline. $250 for renting a truck from UPAYME rentals. $100 for a tow trailer for his car. $85 in food. $25 in double espressos from Starbucks. $300 for motel lodging on the way to Pensacola. $405 for a previous plane trip to Pensacola to look for an apartment. $175 in temporary storage costs for his collection of sports memorabilia. Required: If the government reimburses him $900, how much, if any, may Reginald take as a moving expense deduction on his 2021 tax return?
Here, we need to know how much, if any, Regina may deduct for relocation expenses on her 2021 tax return. moving expenses deduction is $455.
What is expense deduction?Any expense that is deemed "ordinary, necessary, and reasonable" and aids in the revenue generation of a firm is tax deduction. Usually, it is subtracted from the business's income before taxes.
sl.no particulars amount
1 Gasoline $470
2 renting a truck $262
3 tow trailer $108
4 metal loading $324
5 temporary storage cost $191
6 total eligible moving expenses $1355
7 total reimbursement $900
8 net moving expenses $455
moving expenses deduction = total eligible moving expenses - total reimbursement
= ($470 + $262 + $108 + $324 + $191)
- $900
= $1355 - $900
= $455
moving expenses deduction = $455
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Flawed ways to pursue competitive efforts that will successfully differentiate a company's branded footwear from the branded offerings of rival companies include O failing to outspend rivals on advertising in all four geographic regions and pursuing a strategy to strongly differentiate the company's product offering from the offerings of rivals rather than a strategy to weakly differentiate the company's product offering (which is far less costly). O concentrating the firm's differentiation efforts on only a single differentiating feature (such as having the highest S/Q rating in the industry or offering the highest number of models/styles). failing to bid aggressively enough to sign more celebrities to contracts than any other company in the industry, failing to offer 500 models/styles of branded footwear, and charging Internet prices and wholesale prices to footwear retailers that are too far above the prices charged by rival companies. failing to pursue actions to reduce the reject rates at each of the company's plants. o not charging the highest wholesale price for branded footwear in all four geographic regions.
Flawed ways to pursue competitive efforts that will successfully differentiate a company's branded footwear from the branded offerings of rival companies include:
E. Failing to pursue actions to reduce the reject rates at each of the company's plants.
What are competitive efforts?Competitive efforts refer to businesses within the same niche that are in constant competition with fellow businesses. In order to successfully compete with other businesses, it is not right to fail to pursue actions that would reduce the reject rates of the company.
Failure to take action in this regard will give the competitor an upper hand and thus cause losses for one's own business.
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Consider the hypothetical economies of Thalassa and Pelheim, both of which produce cases of argo using only workers and tools. Suppose that, during the course of 25 years, the level of physical capital per worker rises by 4 tools per worker in each economy, but the size of each labor force remains the same. Complete the following tables by entering productivity (in terms of output per worker) for each economy in 2018 and 2043. Initially, the number of tools per worker was higher in Thalassa than in Pelheim. From 2018 to 2043, capital per worker rises by 4 units in each country. The 4-unit change in capital per worker causes productivity in Thalassa to rise by a amount than productivity in Pelheim. This
Pelheim increases from 30 to 54 crates which is an increase of 24 crates or 80%.
The productivity in Thalassa increases from 60 to 72 crates per worker which is an increase of 12 crates per worker or 20%.
What is Productivity?Productivity is basically the average product of labor and this can be computed by dividing the total product or output with the available labor units.
Thalassa: In this economy, 2023 has a productivity of 3600/60 = 60 crates per worker
In 2043, this changes to 4320/60= 72 crates per worker
Pelheim: In this economy, 2023 has a productivity of 1800/60 = 30 crates per worker.
In 2043, this changes to 3240/60= 54 crates per worker
Note that the productivity in Thalassa increases from 60 to 72 crates per worker which is an increase of 12 crates per worker or 20%.
The same in Pelheim increases from 30 to 54 crates which is an increase of 24 crates or 80%.
This shows that the 5-unit change in capital per worker causes the productivity in Thalassa to increase by a smaller amount than in Pelheim.
The explanation for step 2
This is the catch-up effect. This is the process of how low-income countries can catch up with high-income countries by raising their productivity.
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Graphically, shortages will always occur: at prices above the equilibrium price. when the quantity supplied exceeds the quantity demanded. at the equilibrium price. at prices below the equilibrium price. When the absolute value of the price elasticity of demand is less than 1, demand is: O elastic. O perfectly elastic. O inelastic. unit elastic.
Graphically, shortages will always occur: at prices below the equilibrium price.
When the absolute value of the price elasticity of demand is less than 1, demand is: inelastic
When does shortages occur?Shortages will always occur at prices below the equilibrium price.
At prices below the equilibrium price, the quantity demanded exceeds the quantity supplied, leading to a shortage. This is because buyers are willing to purchase more of the good than is being produced and offered for sale by sellers.
When the absolute value of the price elasticity of demand is less than 1, demand is inelastic.
Price elasticity of demand is a measure of how responsive the quantity demanded of a good is to changes in its price. When the absolute value of the price elasticity of demand is less than 1, it indicates that a change in the price of the good will result in a proportionally smaller change in the quantity demanded.
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you have $500,000 available to invest. the risk-free rate as well as your borrowing rate is 8%. the return on a risky asset is 16%. if you wish to earn a 22% return, you should . [hint: the risk-free rate as well as your borrowing rate is 8%. it means that you are able to borrow additional money at risk-free rate, and then use the money to purchase risky assets. this is a case similar to buying on margin. ] question 8 options: a) invest $125,000 in the risk-free
The correct answer is (d) borrow $375,000. Investment means to commit (money) in order to earn a financial return.
What is investment?An asset or thing bought for income or capital growth is an investment. The term "valuation" describes how an asset's worth increases over time.
When a person buys a good as an investment, they do not intend to utilise it for immediate consumption, but rather to use it to build wealth in the future.
Investment usually entails using resources like time, effort, money, or assets now in the anticipation of a future return that will be higher than the initial investment.
As an illustration, an investor might purchase a financial asset today with the expectation that it would generate income down the road or be resold for a profit at a higher price.
In general, any action taken in anticipation of future earnings can also be considered an investment.
For example, when people decide to pursue additional education, the goal is often to increase their knowledge and improve their skills.
The upfront investment in time attending classes and paying for tuition is expected to translate into higher earnings later in a student's career.
Investing always involves some risk as it is based on future growth and income potential. An investment may not generate income or even depreciate in value over time.
For example, the company you invested in may go bankrupt. Alternatively, the degree you are investing time and money into may not result in a strong job market in that field.
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_____trade is the economic policy of not discriminating against exports to or imports from foreign countries. multiple choice question. a. restricted b. balanced c. fair
d. free
Free trade is the economic policy of not discriminating against exports to or imports from foreign countries. Thus the correct option is D.
What is Trade?The term "trade" refers to the exchange of goods and services for cash in order to carry out an economic transaction. Trade that crosses international borders is referred to as international trade.
Free trade is a form of economic policy that does not impose import or export restrictions, lowers trade restrictions between nations by wanting to get rid of all or most tariffs, quotas, subsidies, and bans, and strengthens regulations governing things like intellectual property and e-commerce.
Therefore, the option D is appropriate.
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With more organizations providing dispute resolution procedures will unions become obselete
Unions have the gain of demanding high wages, higher working conditions, job security, and addressing the grievances of their affiliated workers.
However, unions additionally have disadvantages, such as creating unemployment and being lethargic. In addition, unions can lead to a waste of productive time for the duration of strikes.
What are the weak point of change union movement in India?Limited Membership two Domination of Political Parties 3 Small Size of Trade Unions 4 Lack of Unity 5
Trade unions fail because of vested interests and lack of dedication on the phase of stakeholders. This 'lack of commitment' limits the required attitude, knowledge, ability and application for sustained success. Primarily, there are 4 stakeholders—workers, trade union leaders, company administration and the government.
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Problem 2-4 (Algo) Accounting cycle; adjusting entries through post-closing trial balance [LO2-4, 2-6, 2-7, 2-8]
[The following information applies to the questions displayed below.]
Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.
Account Title Debits Credits Cash 32,000 Accounts receivable 40,600 Supplies 1,800 Inventory 60,600 Notes receivable 20,600 Interest receivable 0 Prepaid rent 1,200 Prepaid insurance 6,600 Office equipment 82,400 Accumulated depreciation 30,900 Accounts payable 31,600 Salaries payable 0 Notes payable 50,600 Interest payable 0 Deferred sales revenue 2,300 Common stock 64,200 Retained earnings 30,000 Dividends 4,600 Sales revenue 149,000 Interest revenue 0 Cost of goods sold 73,000 Salaries expense 19,200 Rent expense 11,300 Depreciation expense 0 Interest expense 0 Supplies expense 1,400 Insurance expense 0 Advertising expense 3,300 Totals 358,600 358,600 Information necessary to prepare the year-end adjusting entries appears below.
Depreciation on the office equipment for the year is $10,300.
Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.
On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
On April 1, 2021, the company paid an insurance company $6,600 for a one-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.
$560 of supplies remained on hand at December 31, 2021.
A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.
On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.
The depreciation accounted in accounting of Pastina Company for the office equipment for the year is $10,300.
What are the adjusting entries in accounting?An adjustment entry is one that is created to properly allocate revenue and expenses to each accounting period.
Adjusting entries:
Dr Depreciation expense 10,300
Cr Accumulated depreciation 10,300
Dr Wages expense 900
Cr Wages payable 900
Dr Interest expense 1,518
Cr Interest payable 1,518
Dr Interest receivable 1,373
Cr Interest revenue 1,373
Dr Insurance expense 2,475
Cr Prepaid insurance 2,475
Dr Supplies expense 1,240
Cr Supplies 1,240
Dr Rent expense 600
Cr Prepaid rent 600
Cash 32,000
Accounts receivable 40,600
Supplies 560
Inventory 60,600
Notes receivable 20,600
Interest receivable 1,373
Prepaid rent 600
Prepaid insurance 4,125
Office equipment 82,400
Accumulated depreciation 41,200
Accounts payable 31,600
Salaries payable 900
Notes payable 50,600
Interest payable 1,518
Deferred sales revenue 2,300
Common stock 64,200
Retained earnings 50,540
Sales revenue 149,000
Interest revenue 1,373
Cost of goods sold 73,000
Salaries expense 20,210
Rent expense 11,900
Depreciation expense 10,300
Interest expense 1,518
Supplies expense 2,640
Insurance expense 2,475
Advertising expense 3,300
Total $380,716 $380,716
Sales revenue $149,000
Interest revenue $1,373
Cost of goods sold -$73,000
Salaries expense -$20,100
Rent expense -$11,900
Depreciation expense -$10,300
Interest expense -$1,518
Supplies expense -$2,640
Insurance expense -$2,475
Advertising expense -$3,300
Net income = $25,140
Prepaid rent $600
Prepaid insurance $4,125
Total current assets: $160,458
Office equipment $82,400
Accumulated depreciation $41,200
Total non-current assets: $41,200
Total assets: $201,658
Accounts payable $31,600
Wages payable $900
Interest payable $1,518
Deferred sales revenue $2,300
Total current liabilities: $36,318
Notes payable $50,600
Total long term debt: $50,600
Total liabilities: $86,918
Stockholders' equity:
Common stock $64,200
Retained earnings $50,540
Total stockholders' equity: $114,740
Total liabilities and stockholders' equity: $201,658
Balance on December 31: Common stock $64,200
Balance on December 31: Retained earnings $50,540
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The complete question is:
The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 32,000 40,600 1,800 60,600 20,600 1,200 6,600 82,400 30,900 31,600 50,600 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 2,300 64,200 30,000 4,600 149,000 73,000 19,200 11,300 1,400 3,300 358,600 358,600 Information necessary to prepare the year-end adjusting entries appears below.
1. Depreciation on the office equipment for the year is $10,300.
2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.
3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.
4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.
5. On April 1, 2021, the company paid an insurance company $6,600 for a two-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.
6. $560 of supplies remained on hand at December 31, 2021.
7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue
8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.
Required:
1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts.
3. Prepare an adjusted trial balance.
4. Prepare an income statement and a statement of shareholders’ equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $4,600 in cash dividends were paid to shareholders during the year.
The _____ holds that just as charity is a good thing and something that should be encouraged, business should be encouraged to contribute to society in ways that go beyond the narrow obligations of law and economics. What model of CSR reflects this line of thought?
According to the Philanthropic model, just as charity is a good thing that should be encouraged, businesses should also be encouraged to make contributions to society that go beyond what is required by law and economics.
Which four kinds of social responsibility exist?There are generally four types of CSR: responsibility for the environment, responsibility for ethics and human rights, philanthropic responsibility, and economic responsibility.
What is corporate giving that supports a favorable business environment?A company's efforts to make a positive impact on society are referred to as "corporate social responsibility," or CSR. Spending money on charities or enforcing environmentally friendly workplace policies are examples of these efforts.
What is the social responsibility principle of charity?The charity principle states that the world's wealthiest individuals should assist the less fortunate. Stewardship Principle: Managers have a responsibility to ensure that society benefits from their actions.
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FILL IN THE BLANK small firms or firms with a unique product may choose to focus on a single segment and pursue ___ targeting strategy.
Answer: niche (concentrated)
Explanation: Hope this helps :)
Explain the current economic measures (from fiscal or monetary policy) in South Africa using macroeconomic models like IS-PC-MR model, WS- PS model, AD-ERU-BT model, RX model, IS-PC-PR model or combination of them at least three models as stated.
Macroeconomic models can be used to analyze the impact of different economic measures, such as monetary and fiscal policies, on the South African economy. By using these models, policymakers can better understand how different policy measures may impact the economy and make more informed decisions.
How is macroeconomics used in real life?Consumers want to know how simple it will be to find a job, how much it will cost to buy products and services on the market, or how much it may cost to borrow money. Macroeconomists attempt to anticipate economic conditions to assist consumers, businesses, and governments in making better decisions.
The IS-PC-MR model (Investment Saving-Price Level- Monetarist Rule) is a macroeconomic model that shows the relationship between the real output of an economy, the price level, and the interest rate.
The WS-PS model (Wage-Setting-Price-Setting) is a macroeconomic model that examines the relationship between wages, prices, and employment. It shows how changes in wages and prices affect the level of employment in an economy.
The AD-ERU-BT model (Aggregate Demand-Exchange Rate-Unemployment and Balance of Trade) is a macroeconomic model that shows the relationship between aggregate demand, exchange rates, unemployment, and balance of trade.
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