Answer:
Ray’s recognized gain = $11,000
Trish’s basis = $26,000.
Option "D" is the correct answer.
Explanation:
Given:
Adjusted value of stock = $25,000
Market vale = $15,000
Sales price = $26,000
Find:
Ray’s recognized gain
Trish’s basis
Computation:
Ray’s recognized gain = Sales price - Market vale
Ray’s recognized gain = $26,000 - $15,000
Ray’s recognized gain = $11,000
Trish’s basis = $26,000.
Mr. Dealer bought a fleet of SUVs (sport utility vehicles) from General Motors (GM) on credit, GM agreeing not to assign the resulting account receivable without Dealer's consent. GM later, without debtor dealer's consent, assigned the account to The Bank of New York (BNY) for consideration. Dealer made payments to BNY, but claimed damages from GM for breach of contract. 1. Could Dealer collect damages from GM
Answer:
Yes, Dealer could collect damages from GM because basically GM breached the contract. Any time a contract is breached, the non-breaching party can sue. But the real question here is what amount could the court assign to Dealer as compensation for damages incurred. If you want to rephrase this question, it would be: What damages did Dealer suffer due to GM's breach.
If the damages are not significant, then the court will probably assign some amount for nominal damages. To be honest, the greatest expenses here are actually the legal costs of the lawsuit. Unless Dealer can prove that assigning the contract actually hurt them (which I doubt), then the court will assign a small amount. Sometimes nominal damages can be very small and mostly symbolic, e.g. $1.
The Dealer could not collect damages from GM because he did not suffer any harm from the assignment of the account receivable.
The Dealer could have refused to pay the Bank of New York and claimed a breach of contract against GM Motors. But it was not a material breach.
Secondly, the sales agreement with GM Motors only required the debtor dealer's consent before the assignment. It did not forbid GM Motors from assigning the account. It does not seem that any penalty was agreed upon for breach of this clause.
Thus, the Debtor Dealer could not collect damages from GM Motors because he cannot substantially prove that GM's action put him in financial loss.
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Baskin-Robbins is one of the world’s largest specialty ice cream shops. The company offers dozens of different flavors, from Very Berry Strawberry to lowfat Espresso ’n Cream. Assume that a local Baskin-Robbins in Raleigh, North Carolina, has the following amounts for the month of July 2021.Salaries expense $13,700 Sales revenue $69,800Inventory (July 1, 2021) 2,300 Interest income 3,300Sales returns 1,100 Cost of goods sold 28,700Utilities expense 3,600 Rent expense 6,700Income tax expense 6,000 Interest expense 400 Inventory (July 31, 2021) 1,100Required:1. Prepare a multiple-step income statement for the month ended July 31, 2021.2. Calculate the inventory turnover ratio for the month of July. Would you expect this ratio to be higher or lower in December 2021? Explain.3. Calculate the gross profit ratio for the month of July.
Answer:
Baskin-Robbins
Raleigh, North Carolina
1. Multi-step Income Statement for the month ended July 31, 2021:
Net Sales Revenue $68,700
Cost of goods sold 28,700
Gross profit $40,000
Expenses:
Salaries $13,700
Rent expense 6,700 20,400
Operating income $19,600
Interest Income $3,300
Interest expense ($400)
Income before tax $22,500
Income tax expense 6,000
Net income $16,500
2. Inventory turnover ratio = Cost of goods sold/Average Inventory
= $28,700/$1,700 = 16.88 times
3. I expect the inventory turnover ratio for Baskin-Robbin's shops at Raleigh to be higher in December 2021. There will be more sales of the different flavors of ice cream in December because of the Christmas holidays. As a result, the cost of goods sold will be higher than July's, and the ending inventory will be lower still than July's.
4. Gross profit ratio = Gross profit/Net Sales * 100
= $40,000/$68,700 * 100
= 58%
Explanation:
a) Data and Calculations:
Expenses:
Salaries $13,700
Rent expense $6,700
Interest expense $400
Interest Income $3,300
Sales Revenue $69,800
Sales returns 1,100
Net Sales Revenue $68,700
Income tax expense 6,000
Cost of goods sold = $28,700
Inventory, July 1, 2021 $2,300
Inventory, July 31, 2021 $1,100
Total inventory $3,400
Average inventory $1,700 ($3,400/2)
The financial statements for People’s National Bank (PNB) are shown below:
Peoples’ National Bank
Balance Sheet
As of December 31, 20XX
Assets Liabilities & Equity
Cash 600 Demand deposits 5,590
Demand Deposits from other FIs 1,890 Small time deposits 9,867
Investment 3,680 Jumbo CDs 3,198
Federal funds sold 1,988 Federal funds purchased 2,500
Loans 16,145 Equity 3,728
Reserve for loan losses (1,040)
Premises 1,620
Total Assets 24,883 Total Liabilities and Equity 24,883
Peoples’ National Bank
Income Statement
For the Year Ended December 31, 20XX
Interest on fees and loan 1,200
Interest on investment securities 700
Interest on repurchase agreement 780
Interest on deposits in banks 265
Total Interest Income 2,945
Interest on deposits 945
Interest on debentures 689
Total Interest Expense 1,634
Provision for loan losses 140
Noninterest income 185
Noninterest expense 281
Total 236
Income before taxes 1,075
Taxes 215
Net Income 860
Analyze the following eight ratios for PNB’s financial statements:
Earning Assets, Return on Assets, Total Operating Income, Asset Utilization, Net Interest Margin, Spread, Overhead Efficiency, and Tax Ratios.
Answer:
Earning Assets ratio = Earning Assets/Total assets
Total asset = 24,883: Earning Assets = 1890 + 3680 + 1988 + 16145 = 23703
Earning Assets ratio = 23703 / 24,883
Earning Assets ratio = 0.9525781
Earning Assets ratio = 95.25%
Return on Assets = Net income / Total assets
Return on Assets = 860 / 24,883
Return on Assets = 0.034561748985251
Return on Assets = 3.456%
Total Operating Income = Operating income / Interest income
Total Operating Income = 1075 / 2945
Total Operating Income = 0.365025467
Total Operating Income = 36.50%
Net Interest Margin = (Interest income - Interest expenses) / Average earnin asset
Net Interest Margin = (2,945-1,634) / 23,703
Net Interest Margin = 1,311 / 23,703
Net Interest Margin = 0.0553094544994305
Net Interest Margin = 5.53%
Assets utilization ratio = Revenue / Total assets
Assets utilization ratio = 2,945 / 24,883
Assets utilization ratio = 0.1183538962343769
Assets utilization ratio = 11.84%
Overhead efficiency ratio = 281 / 3,130
Overhead efficiency ratio = 0.089776357827476
Overhead efficiency ratio = 8.98%
Tax ratio = Tax expenses / Income
Tax ratio = 215 / 1,075
Tax ratio = 0.2
Tax ratio = 20%
Firm C’s demand for a product is 60 units per month. Its supplier charges an ordering cost of $40 per order and $35 per unit with a 20% discount for orders of 100 units or more. Firm C incurs a 20% annual holding cost. Calculate the economic order quantity without the discount. Then calculate the economic order quantity with the discounted price. What will be the change in Firm C’s annual total cost (purchasing, holding, and ordering) if it decides to take advantage of the quantity discount?
Answer:
$5,107.04
Explanation:
The computation of the change in the annual total cost is shown below;
Without a discount, the annual total cost is
The computation of the economic order quantity is shown below:
[tex]= \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}[/tex]
[tex]= \sqrt{\frac{2\times \text{720}\times \text{\$40}}{\text{\$7}}}[/tex]
= 91 units
The annual demand is
= 60 × 12 months
= 720
And, the carrying cost is
= $35 × 20%
= $7
Now The computation of the total cost is shown below:
= Purchase cost + ordering cost + carrying cost
where,
Purchase cost = Annual consumption × Cost per unit
= 720 × $35
= $25,200
Ordering cost = (Annual demand ÷ EOQ) × Cost to place one order
= (720 ÷ 91) × $40
= $316.48
Carrying cost = (EOQ ÷ 2) × carrying cost percentage × Cost per unit
= (91 ÷ 2) × 7
= $318.50
Now put these values to the above formula
So, the value would equal to
= $25,200 + $316.48 + $318.50
= $25,834.98
Now if we take the economic order be 101
So, the total cost would be
= Purchase cost + ordering cost + carrying cost
where,
Purchase cost = Annual consumption × Cost per unit
= 720 × $35 × (1 - 0.20)
= $20,160
Ordering cost = (Annual demand ÷ EOQ) × Cost to place one order
= (720 ÷ 101) × $40
= $285.14
Carrying cost = (EOQ ÷ 2) × carrying cost percentage × Cost per unit
= (101 ÷ 2) × 7 × (1 - 0.20)
= $282.80
Now put these values to the above formula
So, the value would equal to
= $20,160 + $285.14 + $282.80
= $20,727.94
Now the change in the annual total cost is
= $25,834.98 - $20,727.94
= $5,107.04
A company expects a shortage of raw materials required for production. What kind of factor is influencing its buying decision?
A.
individual
B.
interpersonal
C.
environmental
D.
organizational
Answer:
C.) Enviromental
Explanation:
Got this right on plato
Answer:
C
Explanation: I got it right on edmentum
Data for January for Bondi Corporation and its two major business segments, North and South, appear below:
Sales revenues, North $ 548,000
Variable expenses, North $ 318,000
Traceable fixed expenses, Nort $ 65,600
Sales revenues, South $ 423,500
Variable expenses, South $ 241,600
Traceable fixed expenses, South $ 54,800
In addition, common fixed expenses totaled $148,600 and were allocated as follows: $77,200 to the North business segment and $71,400 to the South business segment.
A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
a. $87,200
b. $318,000
c. $164,400
d. $152,800
Answer:
Segment margin North= $164,400
Explanation:
Giving the following information:
Sales revenues= $548,000
Variable expenses= $318,000
Traceable fixed expenses= $65,600
To calculate the segment margin for the North division, we need to use the following formula:
Segment margin North= segment contribution margin - traceable fixed expense
Segment margin North= (548,000 - 318,000) - 65,600
Segment margin North= $164,400
On December 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: Accounts Receivable, debit balance of $98,900; Allowance for Doubtful Accounts, credit balance of $1,131. What amount should be debited to Bad Debts Expense, assuming 4% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible
Answer:
the bad debt expense is $2,825
Explanation:
The computation of bad debt expense is shown below:
= Debit balance of account receivable × given percentage - credit balance of allowance for doubtful debts
= $98,900 × 4% - $1,131
= $3,956 - $1,131
= $2,825
Hence, the bad debt expense is $2,825
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Which of the following statements is true regarding the functions of culture in an organization? A) It hinders the generation of commitment to something larger than individual self-interest among employees. B) It conveys a sense of identity for organization members. C) It reduces the stability of the organizational system. D) It reduces distinctions between one organization and others. E) It does not affect employees' attitudes and behavior.
Answer:
B; It conveys a sense of identity for organization members
The correct option is B. It conveys a sense of identity for organization members that statement is true regarding the functions of culture in an organization.
How does culture influence a member of the organization?The culture shapes the working environment within the company and has an impact on the type of long-term goals that help the company achieve its vision. The rules and procedures that help the organization fulfill its mission on a daily basis are also determined by culture.
Members of the organization get a sense of identity from it. It encourages the development of commitment to goals greater than one's own self-interest. The stability of the social system is improved. It acts as a "sense-making" and control mechanism that directs and molds employees' attitudes and conduct.
Thus, The best choice is B. When a statement about the roles of culture in an organization is true, it gives members of the organization a sense of identity.
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Why should a notary signing agent learn all about the closing documents in a loan package if they are not allowed to provide advice or counsel?
Answer:In American law, a signing agent or courtesy signer is an agent whose function is to obtain a formal signature of an appearer to a document. In common parlance, most jurisdictions require the appearer to sign before a notary public. From this, the practice of a notary public designating themselves as a signing agent has arisen. There are notaries public who specialize in the notarization of real estate transfer and loan document signings. Signing agents often have certification and training through private organizations, but is not a requirement in law, although it may be a requirement of the lender in the oversight of real estate transaction document signatures.
Explanation:
A notary signing agent learns all about the closing documents in a loan package if they are not allowed to provide advice or counsel :
A marking specialist or kindness endorser is an specialist whose work is to get a formal signature of an showed up to an archive. In common speech, most wards require the showed up to sign some time recently a public accountant public. They will be able to let the borrower know where to put his signature and other beginning lines the borrowers ought to fill. Also, to know when to coordinate the borrower to the credit officer or other designated agents when necessary. It is concluded that the Public accountant Marking Operator isn't permitted to guide the borrowers, but as it were to guarantee they sign the papers appropriately.Learn more :
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Tamarisk Corporation acquired a 39% interest in Sheffield Company on January 1, 2021, for $490,000. At that time, Sheffield had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2021, Sheffield paid cash dividends of $162,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Sheffield's net income for 2021 was $356,000. What is the balance in Tamarisk's equity investment account at the end of 2021
Answer:
$565,660
Explanation:
Calculation for the balance in Tamarisk's equity investment account at the end of 2021
Cost$490,000
Share of net income $138,840
(.39 × $356,000)
Less Share of dividends ($63,180)
(.39 × $162,000)
Balance in equity investment account$565,660
Therefore the balance in Tamarisk's equity investment account at the end of 2021 will be $565,660
A suggested project requires initial fixed assets of $227,000, has a life of 4 years, and has no salvage value. Assume depreciation is straight-line to zero over the life of the project. Sales are projected at 51,000 units per year, the price per unit is $47, variable cost per unit is $23, and fixed costs are $842,900 per year. The tax rate is 23 percent and the required return is 11.5 percent. Ignore taxes. What is the DOL at the base-case output level of 51,000 units
Answer:
The answer is "11.4".
Explanation:
Please find the complete question in the attached file.
The point of breakthrough financial:
[tex]\to \frac{ ( \frac{(227000 \times 11.5 \%}{( \frac{1-1}{1.115^4})}-\frac{227000}{4})}{\frac{(1-23 \%)+842900+ \frac{227000}{4})}{(47-23)}}\\\\\\\to \frac{ ( \frac{(26,105}{( \frac{0}{1.5456084})}-56,750)}{\frac{(0.77)+842900+56,750)}{(24)}}[/tex]
[tex]\to 38416.19\\\\\to DOL= \frac{38416.19 \times (47-23)}{(38416.19 \times (47-23)-842900)} \\\\[/tex]
[tex]=11.4[/tex]
who Is the most county plz tell it location?
Can we get this to 20 Answers?
Answer:
what is your question ? tell me in the comments plz
Explanation:
The important point(s) to remember while estimating the cash flows of a project Group of answer choices is that only cash flow is relevant are cash flow is relevant and always estimate cash flows on an incremental basis are to always estimate cash flows on an incremental basis and to be consistent in the treatment of inflation. are cash flow is relevant, always estimate cash flows on an incremental basis, and be consistent in the treatment of inflation.
Answer:
Option D (are cash..........inflation) is the right alternative.
Explanation:
Even before forecasting or considering a project's investment returns, this same important thing to recognize or significant observation is capital investment. Quite often approximate cash flows as well as being consistent throughout the cure of economic growth around an integrated or incremental perspective.Some other alternatives given are not linked to the scenario in question. That is indeed the right choice, therefore.
Newcastle Enterprises had net income for 2024 of . Newcastle had shares of common stock outstanding at the beginning of the year and shares of common stock outstanding at the end of the year. There were shares of preferred stock outstanding all year. During 2024, Newcastle declared and paid preferred dividends of . What is Newcastle's earnings per share? (Round the answer to two decimal places.)
Answer:
1.80
Explanation:
Calculation for the earnings per share
First step is to calculate the Average number of common shares outstanding
Average number of common shares outstanding=($39,000 + $43,000) / 2
Average number of common shares outstanding = $41,000
Now let calculate the Earnings Per Share using this formula
Earnings Per Share = (Net income - Preferred dividends) / Average number of common shares outstanding
Let plug in the formula
Earnings Per Share = ($103,000 - $29,000) / $41,000
Earnings Per Share =$74,000/$41,000
Earnings Per Share = $1.80
Therefore the Earnings Per Share will be $1.80
The Super Toy Stores inventory records at December 31, revealed the following: Inventory on hand, December 31 $350,000 Merchandise purchased F.O.B. shipping point, shipped by vendor on December 31, expected delivery date---January 4 118,000 Merchandise shipped to customers on December 28 F.O.B. destination, expected delivery date--January 3 75,000 Goods held on consignment by Super Toy Store, not included in inventory on hand 38,000 What was Super Toy Store's ending inventory at December 31
Answer:
The correct answer is $543,000
Explanation:
According to the given scenario, the calculation of the ending inventory is as follows:
= Inventory on hand + merchandise purchased F.O.B shipping point + F.O.B destination
= $350,000 + $118,000 + $75,000
= $543,000
The goods held on consignment i.e. not involved is not relevant
Thus, the calculation of the ending inventory is $543,000
How is environmental pollution market failure
Answer:
In the real world, pollution is served as an example of market failure. ... According to the diagram, in this case pollution, negative externalities occurs. At the output Qe , equilibrium output is achieved by the firm, at which the marginal private cost equals the price of the firm's output.
"Political risk is the possibility that political events in a particular country will influence the economic well-being of a firm operating in that country. Multinational firms need to anticipate and manage political risk. In order to do that, the firm must understand the differing types of risks and their likelihood of occurrence. The political risks facing a multinational firm can be categorized as"
Answer:
macro risk and micro risk.
Explanation:
Political risks are crucial factors for a multinational company to make investments in a given country, due to the instability of the country's political scenario that can bring negative adverse effects to the company in a context of macro risk and micro risk.
Macro risk is that which is inherent in the country and affects all economic sectors equally, such as the risk of government expropriation.
Micro risk, on the other hand, is one that will impact only a specific business sector, such as corruptions that aim to defraud or harm an organization.
ok but seriously don't click on the site in the comments...unless you want to
Answer:
Thanks?
Explanation:
Kokomochi is considering the launch of an advertising campaign for its latest dessert product, the Mini Mochi Munch. Kokomochi plans to spend $4.13 million on TV, radio, and print advertising this year for the campaign. The ads are expected to boost sales of the Mini Mochi Munch by $8.31 million this year and by $6.31 million next year. In addition, the company expects that new consumers who try the Mini Mochi Munch will be more likely to try Kokomochi’s other products. As a result, sales of other products are expected to rise by $2.38 million each year.
Kokomochi’s gross profit margin for the Mini Mochi Munch is 35%, and its gross profit margin averages 25% for all other products. The company’s marginal corporate tax rate is 35% both this year and next year. What are the incremental earnings associated with the advertising campaign?
YEAR 1
Incremental Earnings Forecast ($ million)
Sales of Mini Mochi Munch $ ?????
Other Sales $ ?????
Cost of Goods Sold $ ?????
Gross Profit $ ?????
Selling, General, and Administrative $ ?????
Depreciation $ ?????
EBIT $ ?????
Income Tax at 35% $ ?????
Unlevered Net Income $ ?????
Calculate the unlevered net income for year 2 below:
YEAR 2
Sales of Mini Mochi Munch $ ?????
Other Sales $ ?????
Cost of Goods Sold $ ?????
Gross Profit $ ?????
Selling, General, and Administrative $ ?????
Depreciation $ ?????
EBIT $ ?????
Income Tax at 35% $ ?????
Unlevered Net Income $ ?????
Answer:
Kokomochi
YEAR 1
Incremental Earnings Forecast ($ million)
Sales of Mini Mochi Munch $8,310,000
Other Sales $2,380,000
Other sales revenue $10,690,000
Cost of Goods Sold $7,186,500
Gross Profit $3,503,500
Selling, General, and Administrative $4,130,000
Depreciation $0
EBIT ($ 626,500)
Income Tax at 35% $0
Unlevered Net Income $0
Calculate the unlevered net income for year 2 below:
YEAR 2
Sales of Mini Mochi Munch $6,310,000
Other Sales $2,380,000
Total sales revenue $8,690,000
Cost of Goods Sold $5,886,500
Gross Profit $2,803,500
Selling, General, and Administrative $ 0
Depreciation $0
EBIT $2,803,500
Income Tax at 35% $981,225
Unlevered Net Income $1,822,275
Explanation:
a) Data and Calculations:
Advertising campaign expenses = $4.13 million
Incremental sales revenue from Mini Mochi Munch = $8.31 million
Next years incremental sales revenue from Mini Mochi Munch = $6.31 million
Incremental sales revenue from other products = $2.38 million each year
Gross profit margin or the Mini Mochi Munch = 35%
Gross profit margin for other products = 25%
Marginal corporate tax rate = 35%
Cost of goods sold:
Year 1:
Mini Mochi Much = 65% (100 - 35%) of sales = 65% * $8.31 m = $5,401,500
Other products = 75% (100 - 25%) of sales = 75% * $2.38 m = $1,785,000
Total cost of goods sold = $7,186,500
Year 2:
Mini Mochi Much = 65% (100 - 35%) of sales = 65% * $6.31 m = $4,101,500
Other products = 75% (100 - 25%) of sales = 75% * $2.38 m = $1,785,000
Total cost of goods sold = $5,886,500
b) The company will incur a loss in the first year, which will be recovered by the second year's profit, because advertising expense are not capitalized or spread over the two years.
Bonita City College sold season tickets for the 2018 football season for $318000. A total of 8 games will be played during September, October and November. In September, three games were played. The adjusting journal entry at September 30
a. will include a debit to Cash and a credit to Ticket Revenue for $58500.
b. will include a debit to Ticket Revenue and a credit to Unearned Ticket Revenue for $78000.
c. is not required. No adjusting entries will be made until the end of the season in November.
d. will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $87750.
Answer:
Will include a debit to Unearned Ticket Revenue and a credit to Ticket Revenue for $119,250.
Explanation:
Based on the information given we were told that the tickets that was sold for the 2018 football season was the amount of $318,000 which means that if a total of 8 games will be played during the month of September in which in the month of September only three games were played. The adjusting journal entry at September 30 will be :
Dr Unearned Ticket Revenue $119,250
Cr Ticket Revenue for $119,250.
($318,000 × 3games/8games=$119,250)
In a few brief sentences attack or defend the following statement - It is a true statement that if the fixed expenses of an organization double, then the break-even point in units would double. Provide support for your conclusion.
Answer: I choose to defend it
Explanation:
The formula for the breakeven point is;
= Fixed expenses/ Contribution margin
If the fixed expenses were to double without the contribution margin changing, the breakeven point in units would have to double as well.
For instance, assume Fixed expenses are $400,000 and the Contribution margin is $4,000. The breakeven point would be;
= 400,000/4,000
= 100 units
Assume fixed expenses double to $800,000 and contribution margin remains unchanged at $4,000. New breakeven point will be;
= 800,000/4,000
= 200 units
Statement is proven that should the fixed expenses double, the breakeven point would double as well.
Financial well-being refers to a person that (check all that apply) *
Have you ever had your dream crushed before
Answer:
yes but dont let it slip away
Explanation:
Variety spice of life
E12.3 (LO 1), AP Cushenberry Corporation had the following transactions. Prepare journal entry and determine effect on cash flows. 1. Sold land (cost $12,000) for $15,000. 2. Issued common stock at par for $20,000. 3. Recorded depreciation on buildings for $17,000. 4. Paid salaries of $9,000. 5. Issued 1,000 shares of $1 par value common stock for equipment worth $8,000. 6. Sold equipment (cost $10,000, accumulated depreciation $7,000) for $1,200.
Answer:
Transaction 1
Cash $15,000 (debit)
Profit and Loss $ 3,000 (credit)
Land $12,000 (credit)
Cash Flow Effect : Increase $15,000
Transaction 2
Cash $20,000 (debit)
Common Stock $20,000 (credit)
Cash Flow Effect : Increase $20,000
Transaction 3
Depreciation Expense $17,000 (debit)
Accumulated Depreciation Expense $17,000 (credit)
Cash Flow Effect : No Change
Transaction 4
Salaries Expenses $9,000 (debit)
Cash $9,000 (credit)
Cash Flow Effect : Decrease $9,000
Transaction 5
Equipment $8,000 (debit)
Common Stock $1,000 (credit)
Paid In Excess of Par $7,000 (credit)
Cash Flow Effect : No Change
Transaction 6
Cash $1,200 (debit)
Accumulated Depreciation $7,000 (debit)
Profit and Loss $1,800 (debit)
Equipment at Cost $10,000 (credit)
Cash Flow Effect : Increase $1,200
Explanation:
All Cash transactions will have an effect on cash flow. Non Cash transactions will not have an effect and these include exchanges of assets and other financial instruments.
Which item will appear on the credit side of ledger account?
a. Cash recived from a customer.
b. Services performed to a customer.
c. Purchases.
d. Rent Expanses.
I just looked it up and I think that it is a
The item that should appear on the credit side of the ledger account is the service performed to the customer.
The following information should be relevant:
The assets, expenses, and dividend account should always have the debit balance. The liabilities, revenues, and the stockholder equity contain the credit balance.Also, the purchase should have a debit balance.Therefore we can conclude that the item that should appear on the credit side of the ledger account is the service performed to the customer.
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Recording Cash Discounts Schrand Corporation purchases materials from a supplier that offers credit terms of 2/15, n/60. It purchased $12,500 of merchandise inventory from that supplier on January 20, 2019. Required a. Assume that Schrand Corporation paid the invoice on February 15, 2019. Prepare journal entries to record the purchase of this inventory and the cash payment to the supplier using the net-of-discount method.
Answer:
Schrand Corporation
Journal Entries:
January 20, 2019:
Debit Inventory $12,500
Credit Accounts Payable $12,250
Credit Purchase Discounts $250
To record the purchase of inventory on credit terms, 2/15, n/60.
February 15,. 2019:
Debit Discount Lost Expense $250
Credit Accounts Payable $250
To record the loss of discount following late payment.
Debit Accounts Payable $12,500
Credit Cash Account $12,500
To record the payment for purchase.
Explanation:
a) Data and Calculations:
Inventory purchase on January 20, 2019 = $12,500
Credit terms = 2/15, n/60
Net-of-discount purchase = $12,250 ($12,500 - 250)
Payment of invoice on February 15, 2019 = $12,500
b) The difference between the net and gross discount methods is that under the gross discount method, the purchases and Accounts Payable are initially recorded at full value. On the other hand, under the net discount method, the purchases and Accounts Payable are initially recorded at a reduced value.
How does a subsidy provided for a good affect consumers?
A
It protects consumers from an unsafe good.
B
It lowers prices for the good but may reduce choice.
C
It decreases supply of the good, so consumers pay more for it.
D
It increases consumers’ incomes and encourages consumers to buy the good.
Answer: D. It increases consumers’ incomes and encourages consumers to buy the good
Explanation:
A subsidy is an amount of money that is given by the government to producers or farmers so as to increase the production of a particular good and also to reduce the price of the good.
Subsidies affect consumers as it increases consumers’ incomes and encourages consumers to buy the good. This is because the subsidized goods will be sold at a cheaper price which means that the income of the consumer is increased and also encourages more purchases of the good.
MANAGING THE HEWLETT-PACK..
William R. Hewlett and David Packard, two organisational leaders who demonstrated
a
Eventually they built a very successful company that now produces more than 10,000
products, such as computers, peripheral equipment, test and measuring instruments, and
handheld calculators. Perhaps even better known than its products is the distinct managerial
style preached and practiced at Hewlett-Packard (HP). It is known as the HP way.
The values of the founders - who withdrew from active management in 1978 - still
permeate the organization. The HP way emphasizes honesty, a strong belief in the value of
people, and customer satisfaction. The managerial style also emphasizes an open-door policy,
which promotes team effort. Informality in personal relationships is illustrated by the use of
first names. Management by objectives is supplemented by what is known as managing by
wandering around. By strolling through the organization, top managers keep in touch with
what is really going on in the company.
This informal organizational climate does not mean that the organization structure has
not changed. Indeed, the organizational changes in the 1980s in response to environmental
changes were quite painful. However, these changes resulted in extraordinary company
growth during the 1980s.
Questions :
1.Is the Hewlett-Packard way of managing creating a climate in which employees are
motivated to contribute to the aims of the organization? What is unique abot the HP way?
2.Would the HP managerial style work in any organization? Why, or why not? What are
the conditions for such a style to work
Answer:
Hewlett-Packard (HP)
1. Yes. The HP way of managing is creating a climate in which employees are motivated to contribute to the organizational goals, aims, and objectives. The HP way encourages informality in personal relationships.
2. The HP managerial style would work in any organization if the organization's culture is developed to accept the style. This implies that if the organization's culture does not promote informality, it may not work.
Explanation:
Every organization develops its own cultural practices to suit its climate and structure. These will detect how the organization achieves its objectives and goals. Some organizations develop very formal structures, while others work better in informal climates. The choice depends on the business strategy that the organizations adopt to pursue their business goals.