Mary signed up and paid $1,320 for a 6-month ceramics course on June 1st with Choplet Ceramics. As of August 1st, Choplets accounting records would indicate 880.
What is accounting?The financial statement of the transaction record is referred to as accounting. In essence, the procedure locates and measures the record. The company has a well-organized financial and record-keeping system.
$440 of revenue, $880 of deferred revenue.
(1,320 × 2/6 of contract) = 440
(1,320contract price paid in advance -$440 revenue recognized to date)
=880
As a result, Mary signed up and paid $1,320 for a 6 month ceramics course on June 1st with Choplet Ceramics. As of August 1st, Choplets accounting records would indicate 880.
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on january 1, 2021, strato corporation borrowed $2 million from a local bank to construct a new building over the next three years. the loan will be paid back in three equal installments of $776,067 on december 31 of each year. the payments include interest at a rate of 8%.
The journal entry for the receipt of the issue of note payable, based on the amount borrowed by Strato Corporation is:
Date Account title Debit Credit
Jan. 1 2021 Cash $2, 000, 000
Note payable $2, 000, 000
How to record borrowed amounts?When a company borrows an amount such as Strato Corporation did, the amount would first go to cash because the borrowed amount represents a cash infusion into the company. The cash account will therefore be debited by the amount that was borrowed because assets are debited when they come in. In this case, this amount is $2, 000, 000 so this will be debited to cash.
The loan represents a Notes Payable and so which is a liability. When liabilities are incurred, they are credited to the liability account. The loan amount would therefore be credited as a Notes payable with the amount $2, 000, 000.
The question is:
Record the receipt of cash from the issue of note payable.
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One advantage of using the ______ channel over the ______ channel is the much higher probability of having a deeper assortment of merchandise available.
The internet is also used in marketing product and services. One advantage of using the Internet channel over the retail channel is the much higher probability of having a deeper assortment of merchandise available.
Digital marketing is simply an alternative name for internet marketing that covers all types of online marketing. It comprises of video marketing, email marketing, content marketing, social media marketing etc.
Some common type of internet marketing are Social media marketing. Influencer marketing. Affiliate marketing. Email marketing. Content marketing.
The purpose of online marketing is mainly to increase website traffic to the product site. Online marketers often uses new and innovative ways to come up with strategies to promote their individual sites.
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if the entire output of a market is produced by a single seller, the firm
Answer:
that means the firm is very large
what percent of cdc employees are vaccinated cassidy
According to CDC Director Dr. Walensky, the percentage of CDC vaccinated employees is not known.
This is based on the interview conducted by Senator Cassidy on the situation of the coronavirus vaccine.
In the interview, Senator Cassidy asked Dr. Walensky a series of questions concerning the vaccines, including the number or percentage of CDC ( Centers for Disease Control and Prevention) employees that have been vaccinated.
Dr. Walensky responds that “I don’t have that for you today, " which implies that it is not known at that moment.
Hence, in this case, it is concluded that the correct answer is "It is not known."
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Which type of credit involves a set limit based on what a consumer pays up front? loans installment credit secured credit cards unsecured credit cards.
(a) (b) (c)
AS(P100) AS(P125) AS(P75)
P Q P Q P Q
125 $560 125 $500 125 $620
100 500 100 440 100 560
75 440 75 380 75 500
Suppose the full employment level of real output (Q) for a hypothetical economy is $500, the price level (P) initially is 100, and prices and wages are flexible both upward and downward. Refer to the accompanying short-run aggregate supply schedules. In the long run, an increase in the price level from 100 to 125 will
a. increase real output from $500 to $560.
b. decrease real output from $500 to $440.
c. change the aggregate supply schedule from (a) to (c) and result in an equilibrium level of real output of $560.
d. change the aggregate supply schedule from (a) to (b) and result in an equilibrium level of real output of $500.
Answer:
XDXDXDXDXDXDXDXDXDXDXXDXD
Explanation:
what is a signed affidavit verifying self employment
a sworn statement and written legal document that is under the oath of law typically used to show a court proof of employment
Government and nonprofit accounting involves working for organizations whose purpose is to serve ______. (Select all that apply)
The people that benefit from the work done by government and nonprofit accountants are:
Ratepayers TaxpayersGovernments are funded by the taxes paid by its people which means that accounting that is done to ensure proper records of the way this money is spent, benefits the taxpayers.
Other nonprofit accounting such as those related to public utility provides such as water and electricity, will benefit those who are paying to use those services. These people are called rate payers.
In conclusion, the accounting mentioned serves ratepayers and taxpayers.
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Under the LIFO retail inventory method, the cost of a new layer added during the period is determined by multiplying the retail value of the layer by the:________.
a. cost-to-retail percentage based on the goods available for sale.
b. beginning-inventory cost-to-retail percentage.
c. current-period cost-to-retail percentage.
Answer:
C. current-period cost-to-retail percentage.
Explanation:
Bob owns 5 acres of land. Bob sells the land to a real estate developer who builds a subdivision with 10 houses. The land is an example of a good that is a. both rival in consumption and excludable. b. neither rival in consumption nor excludable. c. excludable, but not rival in consumption. d. rival in consumption, but not excludable.
Answer:
I think its A
Explanation:
Acme, Inc. had net income of $120,000 in its 1st year and net income of $126,000 in its 2nd year. The percentage increase in net income was ______.
Answer: 5% increase in net income.
Acme, Inc. had a net income of $120,000 in its 1st year and a net income of $126,000 in its 2nd year. The percentage increase in net income was 5%.
What is net income?Net Income = Total Revenue — Total Expenses.
Net income, also known as total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales, in the context of business and accounting refers to an entity's income less cost of goods sold, expenses, depreciation and amortization, interest, and taxes for a given accounting period. It has also been described as the net growth in shareholders' equity that arises from a company's activities.
It is calculated as the residual of all revenues and gains less all costs and losses for the period. Contrary to gross income, which merely deducts the cost of products sold from revenue, this is not the same thing. If you are paid a salary, the annual salary you get from your company equals your yearly gross revenue.
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supportive, value-based, and work facilitation are examples of the ________ element in house’s revised path-goal leadership model.
Based on the components of the path-goal leadership model, supportive, value-based, and work facilitation are examples of Leadership behaviors elements in the House’s revised path-goal leadership model.
The other significant elements in House's revised path-goal leadership model include the following:
Follower's characteristics;Task Characteristics.House R.J was 1971 started these elements in his work titled "A Path-Goal Theory of Leader Effectiveness."
These elements define a different aspect of effective leadership.
Hence, in this case, it is concluded that the correct answer is "Leadership behaviors."
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Which among the 4 common errors that leads to unbalanced account is the EASIEST to resolve. Explain Why.
The common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication.
In accounting, there are different type of error that could result to the unbalanced account, that is, leaving the Trial balance or Balance sheet unbalanced.
Generally, the recognized type of errors in accounting includes:
Error of Original EntryError of DuplicationError of OmissionError of Entry ReversalError of Principle Error of CommissionTransposition ErrorsRounding Errors etcIn conclusion, the common errors that leads to unbalanced account and are the easiest to resolve includes the error of Omission, Commission. Original Entry and Duplication because they are easy to correct.
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When Ms. McConnley is ready to check out, she informs Samra that she does not have any cash to pay her $25 copayment. How should Samra respond?.
Samra should react professionally and sympathetically in the event that a patient, like Ms. McConnley, is unable to pay the $25 copayment.
Samra might approach the matter in the following manner:
Remain Calm and Empathetic: Speak to Ms. McConnley patiently and with an understanding of her predicament.Offer Alternative Payment Options: Mention any accessible payment plans or assistance programs, as well as alternative payment options like credit/debit cards.Ask whether she may postpone the payment due to anticipated short-term financial problems. Discuss Delayed Payment.Communication with Supervisor: If necessary, seek guidance from a supervisor, especially if the circumstance calls for special treatment.Note the Interaction: Detail the talk, any agreements, and any subsequent actions in detail in the patient's chart.Respect patient privacy by handling sensitive information discreetly and securely when recording.Share contact information with the billing department or patient financial services to get more information about payment plans and financial aid.Hence, maintaining empathy, looking for solutions, and professionally recording interactions when dealing with Ms. McConnley's condition all contribute to a patient-centered approach and accurate record-keeping for efficient healthcare administration.
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The given question is incomplete; below is the full question.
How should Samra handle the situation with Ms. McConnley? When Ms. McConnley is ready to check out, she informs Samra that she does not have any cash to pay her $25 copayment. How should Samra respond? When Ms. McConnley is ready to check out, she informs Samra that she does not have any cash to pay her $25 copayment. How should Samra respond? Is it necessary for Samra to make any notations in the patient’s chart?
Rahm finishes dressers and nightstands at a furniture manufacturing company. However, a chemical spill at the factory caused an accident that left him permanently disabled. Which program is specifically designed to help employees like Rahm
The program that is specifically designed to help employees like Rahm is: Social security program.
Social security program is program that provide insurance coverage in order to protect and provide for people who are no longer earning due to old age or unforeseen circumstance.
Social security program are specifically for:
Old peoplePeople with disability etc.This program help to provide or render financial assistance to old people, and to individual that are disabled due to workplace hazard by providing monthly financial assistance to them.
Based on the information given social security program is a program that is specifically designed to help employees like Rahm that has permanent disability due to workplace hazard.
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________ is a communication process in which sales associates help customers satisfy their needs through face-to-face exchanges of information.
Answer:
online marketing
Explanation:
Through there u can communicate face to face
Precious gems are an important natural resource of ________. Paraguay Brazil Mexico the Dominican Republic
Answer:
Brazil
Explanation:
Television advertising offers many advantages to national advertisers, but it is a relatively ______ form of advertising
Television advertising offers many advantages to national advertisers, but it is a relatively expensive form of advertising.
Advertisement is used by companies to promote their products and make people aware of such products. There are different forms of advertisement such as through television, radio, newspaper, etc.
Television advertising is typically desirable but costly to produce the advertisement. It's desirable but expensive to buy time. Despite its advantages, it's costly.
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identify the early developments in europe as having either contributed or not contributed to the rise of industrial wage labor.
Some developments that contributed to the increase in salaried work in Europe were:
Factory growthDevaluation of agricultural and manual workDisplacement from rural to urban areasIndustrialization in Europe was a process that began in the 18th century with the industrial revolution. This event was promoted by some social, economic and cultural aspects that allowed the overcrowding of the industry such as:
Factory growth: Factory owners increased the supply of products and people increased the demand for which it was necessary to found new factories and hire more salaried labor.
Devaluation of agricultural and manual work: With the development of machines, products produced manually were devalued because it was more profitable to manufacture large quantities of a single product with the help of machines than in the traditional way. This caused many artisans to be employed in the factories.
Displacement: When agricultural work stopped being profitable for many families, they had to emigrate to the big cities and work in industrial factories to survive.
Note: This question is incomplete because the options are missing. However, I can answer it based on my prior knowledge and general knowledge.
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Taxes represent __________ of the business. Multiple Choice an equity liability a cash inflow a cash outflow an accounts receivable liability
The taxes that are being paid by a business firm represents: C. a cash outflow.
Taxation can be defined as the involuntary and compulsory fees that are usually levied on individuals or business firms (entities) by the government, so as to generate revenues which are used in funding public institutions and activities.
Basically, these taxes that are being paid by individuals or business firms (entities) is considered as a cash outflow because it represents money that are flowing out of their accounts.
In conclusion, an amount of money that is flowing out of an account such as taxes is referred to as a cash outflow.
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An exporter can shift exchange rate risk to their customers by:_________.
a. invoicing in their home currency.
b. splitting the difference, and invoicing half of sales in local currency and half of sales in home currency.
c. invoicing in their customer's local currency.
d. invoicing sales in a currency basket such as the SDR as the invoice currency.
The process of invoicing in their home currency can definitely shift an exporter exchange rate risk to their customers
An exchange rate risk refers to the risk related to fluctuations in local currency in comparison to the foreign currency.
An exporter who want to avoid the risk of exchange rate can invoice the trade in his local currency, thus, only the customer will suffer for fluctuation if any occurs.Hence, the Option A is correct because the The process of invoicing in their home currency can definitely shift an exporter exchange rate risk to their customers
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Nicole is the Executive Director of a local food bank and is assessing the financial situation of her not-for-profit organization. Nicole uses a(n) ________ to determine whether revenues from contributions and other sources will cover operating costs.
Nicole, who is assessing the financial situation of her not-for-profit organization an income statement to determine whether revenues from contributions and other sources will cover operating costs.
An income statement is a financial document that shows the income and expenditure of an organization over a period of time.
It helps the organization to know whether they are making a profit or incurring losses.
So, for Nicole to determine whether the revenue of the organization will cover operating costs, she needs to use the income statement.
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Grant's income statement reveals a loss from the sale of land. In preparing the operating activities section of the statement of cash flows using the indirect format, the loss should be
If income statement reveals a loss from the sale of land, the loss should be added to net income in the operating activities section.
When loss from the sales of land or property is added to net income, in the statement of cash flows operating activities section, the loss amount will increase the net income.
Loss from the sales of land is a noncash assets as it does not involve cash because no money was paid.
Based on this loss from sales of land does not means that cash was paid rather it means that the company missed the opportunity to gain the amount that was loss.
Inconclusion If income statement reveals a loss from the sale of land, the loss should be added to net income in the operating activities section.
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Paul Mason's firm sells medical equipment to heart surgeons. The company fields a direct sales force that travels the country demonstrating its equipment to heart surgeons and hospital administrators. Recently, Paul's company started producing equipment for eye surgeons, partly to maximize the value of his sales force, which can now call on both heart surgeons and eye surgeons when it makes hospital visits. Paul's firm is attempting to capture economies of ________ through this strategy.
Answer:
scope
Explanation:
a marketing strategy consists of the selection and analysis of a target market and
A marketing strategy involves selection as well as analysis of a target market and examination of potential market regions.
A marketing strategy can be regarded as business's overall game plan that is set so that the prospective consumers can be reached and make them to become customers of the firm products or services. It involves examination of potential market regions and the target market.
Therefore, the examination of potential market regions is correct.
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3. Suppose we have an investment of $10,000 that is earning 2.1% interest compounded continuously. How long would it take to triple the initial investment
It will take an approximate of 52 years to triple the initial investment.
The formula for Future value is A = Pe^(rt)
Given Information
Triple amount
Rate = 2.1%
[tex]3 = e^(.0.021t)\\ln(3) = 0.021t\\t = ln(3)/0.021\\t = 1.09861228867 / 0.021\\t = 52.314870889\\t = 52.31[/tex]
Therefore, it will take an approximate of 52 years to triple the initial investment.
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funds are typically needed to manage day to day needs of a business as well as acquiring needed inventory.
The type of funds that are required by every business in order to be able to manage their daily activities and getting needed inventory is the operating funds.
The operating funds is used for the expenses that are incurred in the daily operations of a business. Such expenses are expected to happen in the business.
Companies need operating funds in order to finance their purchasing program. Such funds are used for planning and buying assets that are needed for the business.
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In which step of the selling process does a salesperson learn as much as possible about a prospective customer before making a sales call
The step of the selling process that a salesperson learn as much as possible about a prospective customer before making a sales call is: Pre-approach.
Pre-approach selling process can be defined as the way in which a sales person learn more about a prospective customers before approaching the customers.
Pre-approach enables a salesperson to plan ahead by obtaining more facts or information about their target customers before making their presentation or before contacting their customers.
Most salesperson often make use of pre-approach as this will enable them to know more about their client as well help build their confident before approaching their client.
Pre-approach selling process can prevent a salesperson from making mistakes when carrying out their sales presentation based on the already relevant information the salesperson has at hand.
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Can someone please read this and tell me if it sounds good so far, thanks!
Answer:
I think It sounds great! just make sure to check for punctuation and any run-on sentences :)
Explanation:
Wayfair Co. Reported the following results from the sale of 5,500 tables in May: sales $300,000, variable costs $165,000, fixed costs $85,000, and net income $50,000. Assume that Wayfair increases the selling price of tables by 10% on June 1. How much is the new contribution margin ratio?.
Wayfair Co's new contribution margin ratio is 50%.
Data and Calculations:
Number of tables sold in May = 5,500
Sales revenue = $300,000
Selling price per table = $54.55 ($300,000/5,500)
Total variable costs = $165,000
Variable cost per unit = $30.00 ($165,000/5,500)
New selling price per table in June = $60 ($54.55 x 1.1)
Contribution margin per table = $30 ($60 - $30)
Contribution margin ratio =50% ($30/$60 x 100)
Thus, the new contribution margin ratio is 50%.
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