oriental Rug Company ships six handmade rugs valued at $5,000 each on consignment to Consign Design. oriental Rug Company pays $1,000 of shipping costs and agrees to accept the return of any rugs within six months of the shipping date. oriental Rug Company also agrees to pay Consign Design a commission of 10 percent for any rug sold. At the end of five months, Consign Design has sold four of the rugs for a total price of $38,000.

The total inventory and revenue value reported by Consign Design at the end of the five months is: _________

Answers

Answer 1
Answer is :

0, 3,800

Explanation:

In a Consignor/consigned relationship, the consignor maintains the inventory on the books. The consigned does not record the full revenue amount, but rather a commission based on the agreement with the consignor. In this case, even though two rugs have not sold, the two rugs that remain unsold are reported on the books of Oriental Rug Company (the consignor). The revenue recorded on Consign Design's books from the sale of the four rugs is based on the agreed upon commission of 10 percent; therefore, $3,800 is the revenue recorded. The $34,200 (90 percent of the total sales) is the payable to Oriental Rug Company and will be recorded as revenue on its books.
Answer 2

The total inventory and revenue value reported by Consign Design at the end of the five months is: 0, 3,800

What is Consignor or consigned relationship?In a Consignor/consigned relationship, the consignor maintains the inventory on the books. The consigned does not record the full revenue amount, but rather a commission based on the agreement with the consignor. In this case, even though two rugs have not sold, the two rugs that remain unsold are reported on the books of Oriental Rug Company (the consignor). The revenue recorded on Consign Design's books from the sale of the four rugs is based on the agreed-upon commission of 10 percent; therefore, $3,800 is the revenue recorded. The $34,200 (90 percent of the total sales) is payable to Oriental Rug Company and will be recorded as revenue on its books.

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Related Questions

What is an example of an interpersonal skill?
a) being highly self-motivated
b) being very disciplined
c) Being punctual
d) achieving goals

Answers

A ) being highly self motivated

__________________ occurs when there are different sets of organizational rules operating, and individual workers find it difficult to reconcile these rules.

Answers

Based on business organization management, Loss of Control occurs when there are different sets of organizational rules operating, and individual workers find it difficult to reconcile these rules.

What is Loss of Control?

Loss of Control is the term used to describe the situation whereby different units of the organization are performing tasks that benefits the units alone rather than a common goal.

Loss of Control can also be likened to a situation where individual workers find it hard to harmonize rules from different top management in the firm or company.

Loss of Control usually occurs as a result of Decentralization.

Hence, in this case, it is concluded that the correct answer is Loss of Control.

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A census is a regularly-occurring and official count of a particular population. Census data available at the United States Census Bureau website are an example of:_______.
A. Private information
B. Public behavior
C. Private behavior
D. Public information

Answers

Considering the demographic information analysis, the Census data available at the United States Census Bureau website are an example of "public information."

What is Public Information?

Public Information is a term that is used to describe any information that is made available to the public regardless of the nature or format of the information.

Census Data as a Public Information

Given that Census data are posted to the United States Census Bureau website where anybody from anywhere in the world can access the information, this is an example of Public Information.

Hence, in this case, it is concluded that the correct answer is option D. Public Information.

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during the holidays you pick up some toys at target. when the cashier asks you, "do you need any batteries for these?" she is using a technique called:

Answers

The technique used by the cashier is suggestive selling.

Suggestive selling is a selling method used when an employee suggests or recommends an additional good that would suit an item purchased by a customer. suggestive selling is also known as add-on selling.

The aim of suggestive selling is to increases the sales of a company.

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bank consistently denies loans to people of color because it believes they are unlikely to repay the amount due on time. This is most likely an example of __________ discrimination.

Answers

The discrimination which involves bank consistently denying loans to people of particular color is an example of Institutional discrimination.

The discrimination described is held-on to by staff because of the laid-down company law, guidelines, tradition etc

An Institutional discrimination refers to those internal policies that result in the denial of resources and opportunities to some class of individual or groups.

The denial of loan provision because of color is possible because the employees held on the company's law, guideline on loan procedure

Therefore, the discrimination which involves bank consistently denying loans to people of particular color is an example of Institutional discrimination.

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1. Read the following data regarding payroll deductions, and answer the questions that follow:

Lydia: $9.50/hour, worked 20 hours this pay period

Thomas: $12.50/hour, worked 40 hours this pay period

Bruce: $8.50/hour, worked 30 hours this pay period

a. Using a spreadsheet program, create a payroll spreadsheet with the information above. Be sure to include proper headings.

b. Add a “Tax (%)” column. Apply a nested IF statement to the spreadsheet to determine the percentage of taxes that needs to be deducted. For someone who makes $9.00 or less an hour, the is 5%. For someone who makes between $9.01 and $12.00 an hour, the rate is 6%. For someone who makes more than $12.01 an hour, the is 7%.

c. Describe hour you generated this column.

Answers

The hours generated are:

Lydia - 20Thomas - 40Bruce - 30

The Net Amount Payable are:

Lydia - $176.70Thomas - $465.00Bruce - $237.15

What is a Nested IF THEN ELSE Statement

This is a function/formula within Microsoft Excel Spreadsheet that allows one to carry out conditional calculations such as the one explained in the question. Please see the attached spreadsheet.

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you are a member of a newly formed team that has been tasked with designing a new product. none of the team’s members have worked together previously and thus confidence is low. which of the following tactics would be most effective in promoting the team’s confidence in its capability to function successfully?

Answers

The tactics which would be most effective in promoting the team’s confidence in its capability to function successfully is to:

Jump right into a challenging task in order to figure out your team's capability.

According to the given question, we are asked to state the tactics which would be most effective in promoting the team’s confidence in its capability to function successfully.

As a result of this, we can see that when a team has a set task like designing a new product and the members of the team are yet to have worked together before, then the tactics which would be most effective in promoting the team’s confidence in its capability to function successfully is to jump into a challenge immediately in order to find out the capability of the team.

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If unemployed workers decide to stop looking for a job and instead enroll in further education, how will the number of employed workers and the unemployment rate change

Answers

The number of employed workers will not change and the unemployment rate will decrease.

The number of employed workers will not change reason being that non was employed  because the unemployed workers has enroll in further education. Hence the number of employed workers will remain the same.

On the other hand the unemployment rate will decrease or decline based on the fact that the unemployed workers are no longer looking or searching for job  but has rather enroll in further education.

Inconclusion the number of employed workers will not change and the unemployment rate will decrease.

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True or False: The purpose of a Sprint is to produce a valuable and useful Increment of working product.

Answers

Based on the business management system, it is True that the purpose of a Sprint is to produce a valuable and useful Increment of working products.

What are Sprints?

Generally, Sprints is a brief, time-boxed period utilized by the scrum team to complete a set amount of work rapidly.

Sprint as a time-box of a month or less is used by working teams to enhance their working activities.

Hence, in this case, it is concluded that the correct answer is "True."

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What is working capital?

Answers

Answer:

Working capital, also called net working capital (NWC), represents the difference between a company’s current assets and current liabilities.

NWC is a measure of a company’s liquidity and short-term financial health.

A company has negative NWC if its ratio of current assets to liabilities is less than one.

Positive NWC indicates that a company can fund its current operations and invest in future activities and growth.

High NWC isn’t always a good thing. It might indicate that the business has too much inventory or is not investing its excess cash.

Explanation:

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answer:

the capital of a business which is used in it day-to-day trading operation, calculated as the current assets minus the current liabilities

Damages that involve only a very small monetary award are called liquidated damages. a. True b. False

Answers

Answer:

b. false.

Explanation:

because it is presented in certain legal contracts as an estimate of otherwise intangible or hard-to-define losses to one of the parties. It is a provision that allows for the payment of a specified sum should one of the parties be in breach of contract.

One way a local community might regulate a shared and limited resource and reduce the tragedy of the commons is to:

Answers

Division of the resources into parcels as well as assigning them to individuals serves as a way that local community usually follow in regulations of shared as well limited resource.

limited resource serves as term used to describe that the quantities of available labor as well as  capital, land are finite.

In order to regulate these resources, the local community can divide the resources into parcel so it will be able to easy for allocation.

Another way is to assign this resources to individual one after the other.

Therefore, Division of the resources into parcels  one way to share the resources.

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Large banks who take excess risk because they believe they will be bailed out by the government if they go bankrupt are often known as

Answers

Answer:

Too Big to Fail

Explanation:

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If you were running a company, describe at least two things you would do to improve its productivity. (1-4 sentences.)

Answers

Answer:

Two ways I would improve productivity would be to increase labor and create incentives. By increasing labor, you'd have more opportunities to keep people at a specified area that they are competent in. If you were to create positive incentives for the workforce, people are more likely to work harder and increase the company's productivity.

Explanation:

Does Nike have any responsibility (of any kind) to the citizens of Indonesia or any country where they operate?
Explain your answer below.

Answers

It should be noted that Nike has responsibilities to the people that are living in any country that they operate. Therefore, the statement is true.

It should be noted they the company's sustainability program and corporate social responsibility aligns with the core beliefs of the company.

Nike has responsibilities to the people that are living in any country that they operate. The company leverages the power of sport in order to promote its agenda about changing the world for the better. The company also engages in various programs that will improve the communities.

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6. Which of the following could cause a change in the demand curve?
A. There is a change in price.
B. There is a change in quantity.
C. There is a change in the population consuming the good.
D. None of the above.

Answers

Answer:

I think that there will be change in the population consuming the good because the goods are sold according to population who consumes it.The goods are sold according to the people .If there will be a lot of population consuming the good then the business can grow rapidly . But if there will be less population then people cant sold much goods.

The ______ of real estate markets makes it impossible to generalize the impact events in other areas will have on real estate values.

Answers

Answer: uniqueness

Explanation:

The uniqueness of real estate markets makes it impossible to generalize the impact events in other areas will have on real estate values.

Which of these is a characteristics of real estate?

In business terms, real estate is an instrument of investment. Real estate has seven specific characteristics related to its economic impact or physical nature. They are scarcity, improvements, location, investment permanence, uniqueness, immobility, and Indestructibility.

What is the most important characteristic of real estate?Permanence of investment is also known as fixity and means investments in real estate are long-term. This is due to the physical characteristics of indestructibility and immobility. Since land is immobile, investment in property becomes fixed. Land cannot be moved if the market becomes better in another location.

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Which of the following illustrate improvements in productivity? Select the two correct answers. (1 point)
After adopting a new typing strategy, a data scientist is able to provide more data services to clients.
After hiring an additional employee, a factory manager has seen a large increase in factory output.
O A restaurant purchases more food ingredients, resulting in a larger quantity of meals available to customers.
O A nurse decides to work overtime, increasing the quantity of patient care services she is able to provide.
After practicing at home, a dishwasher has doubled the number of dishes he can wash in a single shift.

Answers

Improvements in productivity can be explained as illustrated using below examples;

After adopting a new typing strategy, a data scientist is able to provide more data services to clients.After practicing at home, a dishwasher has doubled the number of dishes he can wash in a single shift.

Improvements in productivity involves achieving more output in daily task of an organization.

When the productivity is low ,then the company will not have enough profit and this is not good for the company.

We can conclude high productivity is the target if every firm.

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Which of the following represents an increase in labor productivity within a country? (1 point)
O GDP decreased from 400 billion dollars to 200 billion dollars while total labor hours decreased from 75 million year to 50 million.
O GDP increased from 200 billion dollars to 400 billion while total labor hours increased from 50 million to 100 million.
O GDP increased from 200 billion dollars to 400 billion dollars, while total labor hours increased from 50 million to 75 million.
O GDP decreased from 400 billion dollars to 200 billion dollars, while total labor hours decreased from 100 million to 50 million.

Answers

The option that represents the rise in labor productivity will be C. GDP increased from 200 billion dollars to 400 billion dollars, while total labor hours increased from 50 million to 75 million.

Labor productivity simply means the workforce productivity. It's the real ouput per labor hours. It's the amount of goods that are produced for a given time period.

An increase in labor productivity will be the increase in the GDP from 200 billion dollars to 400 billion dollars, while total labor hours increased from 50 million to 75 million.

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Structural unemployment results when the number of jobs is insufficient for the number of workers. True False

Answers

Structural unemployment is a longer-lasting form of unemployment caused by fundamental shifts in an economy and exacerbated by extraneous factors such as technology, competition, and government policy. Structural unemployment occurs because workers lack the requisite job skills or live too far from regions where jobs are available and cannot move closer. Jobs are available, but there is a serious mismatch between what companies need and what workers can offer.

In a __________ bond, the arrestee hires a bail agent who posts the amount required and charges a fee for services rendered.

Answers

Answer:

bail

Explanation:

Given the following information of a trader calculate the total current assets?

Motor van $3000

Prepaid rates $ 500

Debtors. $3000

Stock. $. 700

Accrued wages. $. 75

Equipment. $500

A. $ 4200
B.$ 5000
C.$2400
D.$3700

Answers

Answer:

A.

Explanation:

CORRECT IF IM WRONG

SORRY FROM NO EXPLANATION

Imagine that you are the mayor of your town. In an upcoming election, you would like the citizens to vote yes for a gambling establishment to locate in your town. Prepare a short speech encouraging the people of the town to vote yes on your proposal. (8-10 sentences)​

Answers

Answer:

Although Gambling is a bit of a controversial topic, there are many upsides to the activity. The biggest problem many see with gambling is the chance of becoming addicted. Addiction is a state of mind. If you feel that you would easy become addicted, don't partake. Gambling doesn't have to be an addictive activity. Just like any activity, it is designed for fun and gain. Of course, there will be instances where you will lose, however; it is apart of the sport. As long as you are careful, you will be okay. To encourage more activities in this town, please, vote yes.

Explanation:

suppose you were hired as a consultant for a company that wants to penetrate the comp-xm market. this company wants to pursue a broad cost leader strategy. from last year’s reports, which company would be the strongest competitor?

Answers

Based on the information given, the company that will be the strongest competitor will be Baldwin.

A broad cost leader strategy simply means a strategy that's is used for competition based on price in a targeted market. It arrives to charge the lowest prices relative to the other firms.

From the complete question, the company that will be the strongest competitor will be Baldwin. The automation for its product was increased to reflect this.

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what is the first step in creating the federal budget?

Answers

Answer:

The President Submits a Budget Request The president sends a budget request to Congress each February for the coming fiscal year, which begins on Oct. 1. 5

Research
independent organizations that fund product safety. Name the organization, how much money they make



Answers

Consumer Product Safety Commission

The socially optimal quantity of pollution is:_________.
a. the amount of pollution society would choose if the marginal social cost of pollution were zero.
b. the amount of pollution society would choose if all costs and benefits were fully accounted for. zero.
c. the amount of pollution society would choose if the marginal social benefit of pollution were zero.

Answers

Based on standard practices, the socially optimal quantity of pollution is "the quantity whose marginal social cost equals the marginal social benefit."

What is the socially optimal quantity?

The socially optimal quantity is the term used to describe output quantity that reveals equilibrium between the costs and benefits of social conditions.

Therefore when the quantity of pollution whose marginal social cost equals the marginal social benefit occurs, this is a socially optimal quantity of pollution.

Hence, in this case, it is concluded that the correct answer is the quantity whose marginal social cost equals the marginal social benefit.

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On November 2, Kasdan Company has cash sales of $6,000 from merchandise having a cost of $3,600. The entries to record the day's cash sales will include:

Answers

Answer:

$3,600 credit to Inventory. (C)

Explanation:

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When you borrow money, you are charged _____. When you put your money in the bank and save it, you earn _____.

Answers

Answer:

interest and  interest

Explanation:

they are both a percentage and the earnings of the interest that are in your bank are much lower than when you borrow money, usually 0.6 percent that you earn. Rather when you borrow depending on the loan it can go up to 20 percent interest.

Discuss the value of technology in business.

Answers

Answer:

The vaule of technology in business is very important like the most important of the business because it help keeps tracks of things,  save database, and it help the business grow.

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