The current balance on the loan is $300,000
This is the total interest charged on your credit card debt, split down into three categories: purchases, cash advances, and balance transfers. If you make a partial payment or make a payment beyond the due date, interest will be applied. If you don't make a monthly payment by the due date on your credit card balance, interest is charged. Interest accrues everyday when you hold a balance from month to month based on the so-called Daily Periodic Rate (DPR). DPR is only another term for your daily interest charge.
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Mark is a famous syndicated radio personality for talkradio. He has a distinctive voice and manner of speaking. Moretalk hires gordon, who sounds nearly identical to mark, to host a competing show. Moretalk encourages gordon to imitate mark as closely as possible while on the air. Moretalk is most likely to be liable for?.
By encouraging Gordon to imitate mark as closely as possible while on air, Moretalk is most likely to be liable for appropriation.
What is appropriation?
Appropriation takes place when an individual uses someone else's name, characters, trademarks, or likeness for commercial purposes without the someone else's permission. Appropriation is one of several acts liable by a court of law falling under the category of invasion of privacy.
In the given scenario, Moretalk encourages her employees to mimic the characteristics that is possessed by its competitors in order to obtain financial gain. This make them liable for appropriation.
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If the minimum wage for teenagers increased to a rate higher than their market equilibrium wage, what would be the effect on their wage and employment?.
The effect on wage is increase and the effect of employment is decrease if the minimum wage for teenagers increased to a rate higher than their market equilibrium wage.
A minimum wage can be described as the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Minimum wage cannot be reduced by collective agreement or an individual contract. The minimum wage legislation had introduced by most of countries in the end of the 20th century.
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the attempt by managers to estimate the qualifications and the number of employees an organization will need, given its goals and strategies, is the process of
The process of demand forecasting involves managers making an attempt to predict the skills and the quantity of workers a business will require, given its goals and strategy.
When hiring managers employ a list of preset questions for each candidate for a certain job, this is referred to as a?A structured interview is a method of interviewing job applicants that is standardized and based on the requirements of the position for which they are applying. Candidates are compared on the same scale and asked the same questions in the same order. credit card . Over 250 million candidates should be reached.
What kind of performance evaluation is based on a manager's perceptions of the characteristics, actions, and outcomes that an employee produces?A subjective appraisal is a manager's assessment of a subordinate based on that manager's opinions of the traits, actions, and outcomes that subordinate created.
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Question 15 of 20
The supply of a good available in a market is likely to increase when:
A. new regulations increase the cost of making the product.
B. few workers have the skills needed to create the product.
C. technology used to make the product is not widely available.
D. companies believe that the product's selling price will go up.
The supply of a good available in a market is likely to increase when actually and generally new regulations increase the cost of making the product Option(A) is correct.
What is Supply?In Financial aspects, supply is how much an asset that organizations, makers, suppliers of monetary resources, or other monetary specialists are willing and ready to give to the commercial center or to a person.
Supply can be in delivered products, work time, unrefined components, or some other scant or significant item. Supply is many times plotted graphically as a supply bend, with the cost per unit on the upward pivot and amount provided as a component of cost on the even hub.
Therefore Option(A) is correct This inversion of the typical place of the reliant variable and the autonomous variable is a lamentable yet standard show.
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Walberg associates, antique dealers, purchased goods for $75,000. Terms of the purchase were fob shipping point, and the cost of transporting the goods to walberg associates’s warehouse was $2,400. Walberg associates insured the shipment at a cost of $300. Prior to putting the goods up for sale, they cleaned and refurbished them at a cost of $980. Determine the cost of inventory.
The cost of inventory of Walberg Associations will be $3680 as per given shipping cost, transportation cost and warehousing cost.
Inventory costs are incurred during the assembly/preparation of a product for sale and might include warehouse costs and insurance expenses.
Here it will be - Warehouse cost ($2,400) + Shipment cost ($300) + Cleaning and refurbish cost ($980) = $3680.
Cost of inventory, also known as typical holding costs, are among the most difficult challenges in inventory management. Increasing inventory costs may appear to suggest unproductive or wasteful operations. A corporation might very well miss out on future opportunities if excessive capital is locked up in inventory levels. Slow-moving inventory, excess safety stock, suboptimal inventory management, as well as other relevant factors can all influence high inventory costs.
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Isaiah has the opportunity to participate in a work-study program at college. If he participates, how might this benefit him?
He can earn college credit for each hour that he works.
He will get the chance to meet with experts who work in his chosen career field.
He will have the ability to study while at his job on campus.
He will work a part-time job on campus to help pay for his tuition.
Answer :He can earn college credit for each hour that he works.
Explanation:
It would help him because he wouldn't have to pay for the credits
the three amigo's company produced and sold 500 dog beds. the average cost of production per dog bed was $50. each dog bed can be sold for a price of $65. the three amigo's total costs are
The three amigo's total costs are $25000 if they produced and sold 500 dog beds and the average cost of production per dog bed was $50.
To determine the total cost, we use multiplication. Multiplication is one of the basic arithmetic operations and can be described as the process of repeated addition of the same number.
As the average cost of production was $50 and 500 dog beds were produced, we can determine the total cost by multiplying the number of dog beds produced by the average cost of production.
Total cost = Number of dog beds produced × average cost
Substituting the values;
Total cost = 500 × 50
Total cost = $25000
Hence, the total cost of the three amigo's is calculated to be $25000.
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holly company is a small family-run manufacturer of wooden garden furniture, sheds, and storage containers. the company is located outside pittsburgh, pennsylvania, and currently employs 185 workers. much of the manufacturing work involves casual labor in the lumberyard and sawmill. the work is hard, and employees often move on after a few months. although the company does not issue audited financial statements, its owner has retained your firm to conduct a review of its internal controls. the focus of your review at this time is the payroll process. payroll processing system holly employees use a time clock in an unsupervised area to record their time on the job. the timekeeping clerk tries to monitor the process but is often distracted by other duties. every friday, the shop fore-men collect the time cards for their subordinates, review and approve them, and deliver them to the payroll clerk. the payroll clerk uses a stand-alone pc to record the employee earnings in the employee records and print a hard-copy payroll register. the payroll clerk sends one copy of the payroll register to the accounting department. the clerk then files the time cards and a copy of the payroll register in the payroll department. the accounting department clerk receives the pay-roll register, reviews it for accuracy, and uses the department computer to record the transaction by posting to subsidiary and gl accounts, including wages expense, cash, and various withholding accounts. the clerk then prints the hard-copy checks, which are written on the general cash account. the clerk signs the paychecks and sends them to the fore-men who distribute them to the employees. finally, the clerk files the payroll register in the department.
A payroll system is a configuration used by an organization to control how employee salaries and wages are paid out. The government employment tax payment and associated deductions are covered by this scheme.
shop supervisors Get the time cards ready and send them to the payroll clerk. The information from time cards is used by the payroll clerk to compute paychecks. The payroll clerk transmits the payroll register to the accounts payable department after entering the information in the register to obtain signed paychecks.
The time cards created by the foremen serve as the foundation for all records, including general, ledger, and payroll register. Employee salaries are calculated by the payroll department, which also keeps track of payroll. After determining the employee payroll, entries are posted in the subsidiary and general ledger.
Payroll fraud may result from the preparation and approval of paychecks by the accounting department. The modification of paychecks and the issuance of counterfeit paychecks are two examples of these frauds.
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One of hope’s coworkers quits, and during the next pay period hope works 60 hours instead of 40 to help cover the shifts. Which of hope’s deductions will definitely change as a result?.
As one of Hope's coworkers quit and she works 20 hours more than his Fixed time, Hope's Federal tax deduction will definitely change as of her behaviour.
More about federal tax:
The federal government merely collects federal income taxes to cover its expenses. In order to afford for specific state expenses, state governments frequently collect state taxes. Income tax is frequently alluded to as a tax on income, which includes both inherited wealth (such as salaries, pay rates, tips, and commissions) and unearned income (such as dividends and interest).
In conclusion, both businesses and people may be subject to income taxes.
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classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.
Classify each items
Outstanding checks, $670: a subtraction from the bank balanceDeposits in Transit, $1500 : an addition to the bank balanceNSF check from customer, #548 for $175 :subtraction from the book balanceBank collection of note receivable for $800, and interest of $80: an addition to the book balanceInterest earned on bank balance, $20: addition to the book balanceService charge, $10 : subtraction from the book balanceThe business credited Cash for $200. The correct amount was $2,000: subtraction from the book balance.The bank incorrectly decreased the business's by $350 for a check written by another business : an addition to the bank balance.What is bank reconciliation statement?A bank reconcilation statement is a statement that is used to reconcile the money a company has as cash with the money a company has in the bank.
An discrepancy in bank reconciliation as per cash and bank reconciliation as bank bank indicate that an error has occur which has to corrected based on the fact both bank and cash balance must have equal balance when preparing a bank reconciliation statament.
Therefore Outstanding checks is a deduction from the bank balance
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The complete question is:
The following items could appear on a bank reconciliation:Classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance. () an addition to the bank balance, or (4) a subtraction from the bank balance.
a. Outstanding checks, $670. b. Deposits in transit, $1,500. NSF check from customer, no. 548, for $175. d. Bank collection of note receivable of $800, and interest of $80. Interest earned on bank balance, $20. f. Service charge, $10. g. The business credited Cash for $200. The correct amount was $2,000. h. The bank incorrectly decreased the business's by $350 for a check written by another business. e.
schools require students to obtain specific vaccinations before enrolling. this is not to punish individuals, but rather to provide everyone on campus with a safe and healthy community. this idea of individuals in society benefiting from the action of a third party, such as a classmate getting vaccinated, is an example of what economic concept?
The idea of individuals in society benefiting from the action of a third party, such as a classmate getting vaccinated, is an example of the economic concept of positive externality
In the field of economics, we can describe a positive externality as a condition in which a third person or party gets benefits when a certain product is being consumed or produced. The third party does not have anything to do with the business yet somehow benefits from it.
In the scenario above, the action of a student getting vaccinated also benefits the third party, i.e the other students, from catching a disease and hence is an example of a positive externality.
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Select the correct answer.
which was the first home entertainment technology to disrupt the movie industry?
A. radios
B.cable television
c.livestreaming
D. video cassette recorders
cable television
Cable television was the first home entertainment technology to disrupt the movie industry.
Why did cable television disrupt movie industry?During the first three decades of network television in America, the television business saw a remarkable amount of stability. Once the foundation of the television industry had been laid, the seasons of television glided by with a cozy familiarity. The 1980s saw a new wave of media industry consolidation and the explosive rise of cable television and home video, which upset the balance of power in the television business and resulted in a total integration of Hollywood studios and television networks.Community antenna television (CATV), a solution to reception issues in geographically remote areas where residents had trouble receiving television signals with a household antenna, gave rise to cable television in the 1940s and 1950s.
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george contemplates purchasing 100 shares of a stock selling at $15 per share. the history of the stock indicates that it should grow at a rate of 12%, compounded twice per year. how many years would it take for the worth of george’s shares to double? round to the nearest tenth.
Share value should be doubled in years. By compound interest the share value is doubled in 6 years.
What is compound interest?The interest you receive is referred to as compound interest. Using simple math, you can see how this works: if you have $100 and it generates 5% interest annually, you will have $105 at the end of the first year. You'll have $110.25 at the conclusion of the second year.
What is share value?A value stock is a term used to describe shares of a firm that appear to sell for less than its fundamentals, such as dividends, earnings, or sales, attracting value investors. Typically, a growth stock and a value stock can be compared.
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after the end of the second year and all other factors remaining equal, a future value based on compound interest will never exceed the future value based on simple interest.
The answer to this question is false. Assuming that in both methods interest is calculated on an annual basis, the future value based on compound interest will always exceed the future value based on simple interest after the end of the second year.
What Is Future Value (FV)?The worth of a current asset at some point in the future based on an estimated rate of growth is known as future value (FV). For investors and financial planners, the future value is crucial because they use it to predict how much an investment made now will be worth in the future.
Investors can make wise investment choices based on their projected demands by knowing the future worth. However, external economic forces that depreciate an asset's value, such inflation, might have a negative impact on the asset's future worth.
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when you drive, there is an underlying trade-off: you have the of driving: getting from one place to another quickly and easily. on the other hand, you have to incur the of driving: paying for gasoline and some wear and tear on the car. (enter one word in each blank.)
When you drive there is an underlying trade-off: you have the benefit of driving: getting from one place to another quickly and easily. On the other hand, you have to incur cost of driving: Paying for gasoline and some wear and tear on the car.
The function of underlying trade-off is we can getting from one place to another quickly and easily. So we have the benefit of driving. On the other hand, we have to incur the cost of driving include paying for gasoline and some wear and tear on the car.
A trade-off (or tradeoff) can be defined as a situational decision that involves diminishing or losing one quality, quantity, or property of a set or design in return for gains in other aspects. In simple terms, a tradeoff can be defined as the thing increases, and another must decrease.
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journal entries, financial statements, and closing entries for a capital projects fund the following transactions occurred during the fiscal year july 1, 2021 to june 30, 2022: 1. the city of spainville approved the construction of a city hall complex for a total cost of $120,000,000. a few days later, a contract with a 5 percent retainage clause was signed with paltrow construction for the complex. the buildings will be financed by a federal expenditure-driven grant of $25,000,000 and a general obligation bond issue of $100,000,000. during the current year, investment revenue of $4,000,000 is budgeted. (assume the budget is recorded in the accounts and encumbrance accounting is used.) 2. the bonds were issued for $90,000,000 (the face amount of the bonds was $100,000,000). the difference between the actual cost of the project and the bond and grant proceeds was expected to be generated by investing the excess cash during the construction period. 3. the city collected the grant from the government. 4. the city invested $90,000,000. 5. the contract signed with paltrow stipulated that the contract price included architect fees. the architects were paid their fee of $45,000 by spainville. retainage does not apply to the architect fees. (assume a vouchers payable account is used.) 6. paltrow submitted a progress billing for $25,000,000. the billing, less 5 percent retainage, was approved. assume that the city will use resources from the federal grant to make this payment. 7. investments that cost $5,000,000 were redeemed for a total of $5,020,000. note: the $20,000 increase represents interest income. 8. interest income totaling $3,500,000 was received in cash. 9. the contractor was paid the amount billed in transaction 6, less a 5 percent retainage. 10. the contractor submitted another progress billing for $25,000,000. the billing, less retainage, was approved. 11. investments totaling $14,600,000 were redeemed, together with additional interest income of $1,400,000. 12. the contractor was paid the amount billed in transaction 10, less a 5 percent retainage. 13. interest income of $250,000 was accrued. 14. bond interest totaling $10,000,000 was paid.
Funds for capital projects are accounted for on a modified accrual basis. When revenues are subject to accrual, they are recorded. The moment a liability is incurred is when expenses are recorded.
What does capital project fund accounting entail?
The financial resources utilized for the purchase or building of capital facilities are recorded using capital projects funding. These include real estate, upgrades to real estate, structures, structures' improvements, and infrastructure.
What last journal entries are there?
A journal entry that is made at the end of the accounting period is a closing entry. It entails transferring information from floating accounts on the income statement to floating accounts on the balance sheet. Retained earnings finally receive all balances from the income statement.
400,000 Cr. TAN Payable to Dr. Cash
Dr. Debt Services Expenditure 3,667 \sCr. 3,667 in accrued interest is due [400,000 x.01 x (11/12)]
Cash 100,000 Dr. Investments 100,000 Cr.
Dr. Cash Investment 100,000 [100,000 x.008 x (6/12)] = 400 Dr. Cash Investment 100,400 Cr. Revenue - Interest Revenue 400 Cr.
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due to budgetary restraints, departmental charge cards will no longer be valid for purchasing supplies. departments will now order all supplies through central purchasing in accounting. the new procedure for ordering supplies will be effective march 1. improved company intranet functionality will make this process easy and effective. the electronic supply request form can be found on the intranet in the "orders" folder. supply requests submitted via the intranet will be processed within 24 hours. indirect semi-indirect direct
Semi-indirect messaging strategy has been used in this paragraph to communicate the message in business writing.
There are three approaches to communicating with an audience in business writing: direct strategy, indirect strategy, and semi-indirect strategy. The intent or summary of the message is placed first in the direct strategy, accompanied by the specifics of that idea. By using indirect strategy, on the other hand, entails beginning the message with details and ending with the core theme. When the central concept of the text is given in the center of the speech and is enclosed by specifics at the beginning and end, the semi-indirect messaging strategy is used.
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Dog food manufacturers, such as ralston purina, also have begun offering super-premium foods based on "life-stage nutrition. " the marketing strategy ralston purina is using is called.
Ralston Purina offering super-premium foods based on "life-stage nutrition, so the strategy that Ralston Purina used is trading up strategy.
Trading up strategy can be defined as a strategy that adding a higher-priced, higher-quality version of a product to the range, generally to increase sales of the lower-priced model through consumer association of its image with the more prestigious model.
The example of trading up strategy is when a seller sell a starter version of software, but seller have just released a new professional version, with higher-quality features. And the seller's consumers choose to upgrade to the new version of your product, they're "trading up"
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under the approach, the employer need not actually control the work but must merely have the right or ability to control the work for a worker to be classified an employee.
[tex]\huge \mathbb{\blue{ANSWER }} \\ \\ \\ \rightarrow \sf\: under \: the \: \bf{common - law \: agency \: approach}[/tex]
Duland industries purchases inventory on account with terms 3/10, n/30 for $3,800 on july 15th. Mcleod also pays shipping costs of $150 on july 15th. What would be the net cost of the inventory if mcleod pays the invoice on july 29th?.
Since the payment term is 3/10, n/30, Duland industries is not qualified for the discount and the net cost of the inventory on july 29th is $3,950.
The credit term 3/10, n/30 means:
3/10 : if the buyer pays the invoice within 10 days, then a 3% discount will apply.
n/30 : if the buyer doesn't pay the invoice within 10 days to get the discount, then the full or net amount is due within 30 days.
From the problem:
The purchase date is 15th and the payment date is july 29th. It is more than 10 days, then Dulan industries is not qualified for the 3% discount.
The net cost of the inventory = inventory price + shipping cost
= $3,800 + $150
= $3,950
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Suppose the real risk-free rate is 3. 50% and the future rate of inflation is expected to be constant at 4. 60%. What rate of return would you expect on a 1-year treasury security, assuming the pure expectations theory is valid? disregard cross-product terms, i. E. , if averaging is required, use the arithmetic average.
Answer:
Assuming the pure expectations theory, the rate of return is 8.10%
Explanation:
Real Risk free rate.=3.50%
Future rate of Inflation=4.60%
Rate of return on 1 year Treasury security.=Real risk free rate+ Future rate of inflation
= 3.50% + 4.60% = 8.10%
Assuming the pure expectations theory, the rate of return is 8.10%
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in the form of a zero-interest-bearing note (face amount $150,000). the note is to be repaid on december 31, 2022. the prevailing rate of interest for a loan of this type is 10%, and the present value of $150,000 at 10% for three years is $112,695. what amount of interest income should ms. ladd recognize in 2020?
The interest income received by Ms. Ladd on zero-interest bearing note in year 2020 will be $15,000.
The interest income will be calculated as follows:
Present value = $150,000
Rate of interest (r) = 10%
Interest income of 2020 =150,000*10%
= $15,000
Zero interest bearing notes are debt instruments with no dividend yield attached that have been issued by an organization. When such instruments are issued, the issuing corporation is not required to give investors any ongoing interest payments. These are also known as bonds with zero coupons.
Zero interest bearing notes are issued by the company at a massive discount to their face value because they are not subject to any periodic interest. A predetermined maturity period is also a feature of these securities. The firm is mandated to return the full-face value of the notes to the investors whenever they mature.
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during meetings, stacy likes to challenge new ideas, even those that she agrees with, in order to make sure that her team has considered every angle. what role is stacy playing?
The role Stacy is playing during work meetings is devil's advocate.
What does the role of devil's advocate mean?It corresponds to a situation, usually occurring during a work meeting, where the individual demonstrates that he does not agree with the ideas proposed by the work team, in order to stimulate innovation and refinement of the central idea.
Therefore, playing devil's advocate in a meeting can be advantageous for a manager to be able to extract more details about an idea, new constructions and creativity from his team.
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classify the scenarios according to whether or not they describe a negative externality. a. a donut shop emits a delicious smell into the air as a by-product of production. b. a neighbor plays loud music that annoys the surrounding community. c. a person with no allergies gets a mosquito bite from a disease-free mosquito. d. a person gets a flu shot and is therefore less likely to spread illness to others. e. a factory emits pollution into the atmosphere as a by-product of production.
A donut shop emits a delicious smell into the air as a by-product of production - Not Negative externality.
A neighbor plays loud music that annoys the surrounding community - Negative externality.
A person with no allergies gets a mosquito bite from a disease-free mosquito - Not Negative externality.
A person gets a flu shot and is therefore less likely to spread illness to others - Not Negative externality.
A factory emits pollution into the atmosphere as a by-product of production - Negative externality.
What is a Negative externality?Basically, a negative externality refers to the situation that exists when the production or consumption of a product results in a cost to a third party. A good example of negative externalities are air & noise pollution.
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allied made its first and only purchase of inventory for the period on may 3 for 1,000 units at a price of $8 cash per unit (for a total cost of $8,000).
The appropriate journal entries to record the transaction is: Debit Merchandise inventory $8,000 Credit Cash $8,000.
Journal entriesMay 03
Debit Merchandise inventory $8,000
Credit Cash $8,000
May 05
Debit Accounts receivable $6,000
Credit Sales $6,000
May 05
Debit Cost of goods sold $4,000
Credit Merchandise inventory $4,000
May 07
Debit Sales returns and allowances $600
Credit Accounts receivable $600
May 07
Debit Merchandise inventory $400
Credit Cost of goods sold $400
May 08
Debit Sales returns and allowances $200
Credit Accounts receivable $200
Therefore the entry is Dr Merchandise inventory $8,000 and Cr Cash $8,000.
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The complete question is:
May 3
Allied made its first and only purchase of inventory for the period on May 3 for 1,000 units at a price of $8 cash per unit (for a total cost of $8,000).
May 5
Allied sold 500 of the units in inventory for $12 per unit (invoice total: $6,000) to Macy Company under credit terms 2/10, n/60. The goods cost Allied $4,000.
May 7
Macy returns 50 units because they did not fit the customer’s needs (invoice amount: $600). Allied restores the units, which cost $400, to its inventory.
May 8
Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $200 to compensate for the damage.
Prepare the appropriate journal entries for Macy Company to record each of the May transactions. Macy is a retailer that uses the gross method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Aat which stage in the typical buying process is the customer aware of a need and has evaluated one or more solutions with the resolve to do something, but may have obstacles or concerns to contend with?.
Information search is the stage in the purchase process when the consumer realizes a need and becomes determined to take action but may face challenges or worries.
Customers go through a series of actions in order to purchase a product. The buying process consists of steps that a consumer performs when deciding what to buy. In a typical consumer transaction, necessities and wants are acknowledged. The information search comes next followed by an analysis of all the options. Finally, the transaction is completed and an evaluation is conducted afterward.
The Information search stage starts when the consumer becomes conscious of his need or desire. He seeks more information about the solution to his dilemma and starts looking for the best available options for solving this issue. A consumer may research products by looking at commercials, print materials, videos, websites and even by asking his friends and relatives.
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explain how an average cost curve is affected by a change in the underlying fixed costs of production and compare the impact to how a marginal cost curve is affected by a change in the underlying fixed cost.
Similar to any other marginal-average relationship, there is one between marginal cost and average cost. Average cost rises when marginal cost is higher than average cost.
Other insights may also be based on how total costs are divided into fixed and variable costs. The following table's first five columns are identical to those in the previous table, but its marginal cost and average cost last three columns display the average total costs, average variable costs, and average marginal costs.
A per-unit presentation of the data on total costs, fixed costs, and variable costs is also an option. Entire marginal cost and average cost is multiplied by the total quantity generated to determine average total cost (ATC). Usually, the average total cost curve is U-shaped. Calculating average variable cost (AVC) involves dividing variable cost by quantity produced.
By dividing the difference in output by the total cost between two levels of output, marginal cost (MC) is determined.
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star inc. licenses use of its intellectual property to customers. the benefit the customer receives from the license is not affected by star's ongoing activity. star should recognize revenue:
Star Inc. licenses use of its intellectual property to customers. The benefit the customer receives from the license is not affected by Star's ongoing activity. Star should recognize revenue at the beginning of the license period.
What does revenue mean?
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Revenue, also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement.
What is revenue in a business?
Your annual revenue is the amount of money your company earns from sales over a year; it does not include costs and expenses. To calculate your annual revenue, you multiply the quantity of each product you sold by its sale price, and then add each product's annual sales to determine your gross annual revenue.
Is revenue same as profit?
Revenue and profit are both good signs for your business, but they're not interchangeable terms. Both represent an important way to understand your business. Revenue describes income generated through business operations, while profit describes net income after deducting expenses from earnings.
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matt and meg comer are married and file a joint tax return. they do not have any children. matt works as a history professor at a local university and earns a salary of $70,000. meg works part-time at the same university. she earns $33,000 a year. the couple does not itemize deductions. other than salary, the comers’ only other source of income is from the disposition of various capital assets (mostly stocks). (use the tax rate schedules, dividends and capital gains tax rates.) (round your final answers to the nearest whole dollar amount.)
The tax liability for Matt and Meg Comer as they file a joint tax return is $11239.
What is a joint tax return?It should be noted that a joint tax simply means a single tax return that is filed by the married couple who had married before the tax year.
The tax liability for the Comer's will be:
Salaries = $70000 + $30000 = $100000
Short term gains = $9000 - $2000 = $7000
Long term capital = $15000 - $6000 = $9000
Adjusted gross income = $116000
Less: Standard deduction = $24400
Taxable income = $91600
Less preferred taxes income = $9000
Income taxed at ordinary rate = $82600
Income taxed at capital gain rate = $9000
Regular tax = 9086 + (82600 - 78950) × 22% = $9889
Preferential tax = (9000 × 15%) = 1350
Tax liability = $9889 + $1350 = $11239
Note that some values were gotten from the tax table.
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cash equivalents: multiple choice are readily convertible to a known cash amount. include investments due in twenty months. include long-term investments. include accounts payable. include accounts receivable.
Cash equivalents include investments due in twenty months.y bills, commercial.
Cash equivalents are investment securities that might be supposed for short-term making investments; they've excessive credit quality and are notably liquid. cash equivalents, additionally referred to as "cash and equivalents," are one of the three important asset lessons in economics making an investment, along with shares and bonds.
Cash equivalents include financial institution bills and marketable securities which include business paper and brief-term authorities bonds. Cash equivalents ought to have maturities of three months or less.
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