It is true that ending balances for an accounting period become the beginning balances of the subsequent accounting period.
Why is this statement true?In accounting, a financial record is prepared on annual base, hence, the ending balance for a particular year will be carry forward for preparation of subsequent year account.
In conclusion, It is true that ending balances for an accounting period become the beginning balances of the subsequent accounting period.
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Mateo wants to buy a new guitar and amp that will cost about $2,500. He works part time at a cafe and brings home around $500 per week. He tells his friends he plans to buy the guitar in about two months. What detail of this goal is missing?
The missing detail in Mateo's goal is how much money he can save per week.
While it is known that he brings home around $500 per week from his part-time job at the cafe, it doesn't have information on how much of that income he plans to save each week towards buying the guitar and amp.
To determine if he can achieve his goal of buying the guitar in about two months, it is needed to know how much money he can set aside from his weekly earnings for savings. Without this information, it is challenging to assess whether his goal is achievable within the specified timeframe.
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Gloria Catering provided $1,000 of catering services and billed its client for the amount owed. Determine the general journal entry that Gloria Catering will make to record this transaction.
The general journal entry that Gloria Catering will make to record this transaction is: Debit Accounts receivable $1000; Credit Catering revenue $1000.
Journal entryAssuming Gloria Catering provided the amount of $1,000 of catering services and billed its client for the amount owed. The appropriate journal entry to record this transaction is :
Gloria Catering Journal entry
Debit Accounts receivable $1000
Credit Catering revenue $1000
(To record account receivable)
Inconclusion the general journal entry that Gloria Catering will make to record this transaction is: Debit Accounts receivable $1000; Credit Catering revenue $1000.
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The global market is a chain of u. S. Grocery stores where customers can purchase foods, beverages, and canned goods from other countries. Global market is an example of a company that:.
Global market is an example of a company that: Imports.
What is Importation?Importation is a business model that is focused on buying goods and services from other nations to resell in one's own country.
Given the business structure of Global Market, we can infer that they are a business that is focused on imports.
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Ion Co. purchased land for $190,000. Ion also paid $5,000 in real estate commissions, $1,000 in legal fees, and $500 in title insurance fees. Ion should record the cost of this land at:
Answer:
196,500
Explanation:
I hope this helps. :)
PT should record the cost of the land for $196,500.Since land is not depreciated, it is always reported on the balance sheet at its historical cost and would remain there.
Find the solution ?Since land is not depreciated, it is always reported on the balance sheet at its historical cost and would remain there.Additionally, until the land is sold or included in a transaction, there is no fair value adjustment.Data provided in the question :
Purchasing cost of the land = $190,000
Closing costs paid = $5000
Total regarded cost of the land = $1500
PT should record the cost of the land for
= Purchasing cost of the land + Closing costs paid + Total regarded cost of the land
= $190,000 + $5000 + $1500
= 196500
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The purpose of this measure is to Increase employment. Combat inflation. Lower interest rates. Control consumption.
Combat inflation can be defined as a tool which is used by the government with the purpose of increasing the employment at the time of recession in the economy.
What is combat inflation?Combat inflation is a technique used by the national governments or other such authorities to where the cost of wages and controls over prices are levied.
A combat inflation in the economy is an effective technique which acts as a double-edged sword for increasing the employment as well as lowering the cost of hiring for the employers.
The only concern in a combat inflation technique is that it cannot be used as a tool for increasing the unemployment, which is highly and unlikely unfavorable for an economy, leading to loss of jobs.
Hence, option A; The purpose of the combat inflation measure is to increase employment rate in the country is the correct statement.
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Answer:
Combat Inflation
Explanation:
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When the president of Smithson Corp. proposed a new product for launch, his board of directors readily accepted his proposition without considering the risks. This is an example of _____.
If the board of directors readily accepted his proposition without considering the risks. This is an example of groupthink.
What is groupthink?Groupthink occur when a group of people tend to all accept a conclusion or an opinion that was made without considering whether the viewpoint they accepted was risky or good.
Based on the given scenario the board of directors accepting the new product that was independently proposed by the president without considering the risks is an example of groupthink.
Inconclusion If the board of directors readily accepted his proposition without considering the risks. This is an example of groupthink.
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ANSWER ASAP PLEASE Which statement describes a way to use credit responsibly?
paying attention to the APR
and not the
APY
paying only the minimum payment each month
opening several different credit accounts
o understanding the account's interest rate
Answer:
understanding the interest rate
Explanation:
i took the test
What is the major difference between a nonprofit organization and a for-profit organization?.
Answer:
nonprofits have a social mission, while for-profits aim to offer products and services that are valuable and that make them a tom of money. Then they get money. and also non profits don't make a profit they just pay for themselves and their product.. 0 profit
Explanation:
How does the existence of substitutes for a product affect the product’s price elasticity of demand?.
The existence of substitutes for a product makes the elasticity of demand more elastic.
What are substitutes?
Substitute goods are goods that can be used in place of another good. If the price of a good increases, the demand for the substitute increases and if the price of the good reduces, the demand for the substitute increases.
What is elastic demand?Demand is elastic if the quantity demanded is highly sensitive to price changes. The coefficient of elasticity is usually greater than one.
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Resort Hotel Company replaces Sharon, a forty-five-year-old employee, with Terry. Sharon files a suit against the employer under the Age Discrimination in Employment Act. To establish a prima facie case, she must show, among other things, that she is
As Sharon files the suit against the employer for Age Discrimination, there is need to establish a prima facie case and show that she is Qualified for the position.
What is Age discrimination?An Age discrimination is a class of discrimination that is age-based rather than on race, ethic, gender etc.
In conclusion, Sharon will have to prove that she is Qualified for the position.
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What are extension strategies?
➣ Extension strategies are marketing techniques that seek to improve sales to extend the life of a product before decline begins.
➥ I hope I have helped you, greetings! Atte: ღTheGirlSadღAnswer:
Extension strategies are marketing techniques that seeks to improve sales to extend the life of a product before decline begins .In which team leadership activity is strong member identification encouraged because it will lead to better performance
The team leadership activity which involves strong member identification and encouragement results to establishing the team..
What is team leadership?Team leadership can be regarded as the activities involving planning and controlling of the team and giving motivation in order to achieve set goals.
And this usually lead to better performance of member.
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Use the information in the table to decide which of the following statements is true. A. The payment amount changes each month. B. The amount applied to the principal is decreasing each month. C. The amount applied to the principal is increasing each month. D. The amount applied to interest is increasing each month.
Loan amortization schedule shows the summary regarding periodic loan payment. The given statment shows that the amount applied to the principal is increasing each month.
What is Loan Amortization Schedule?The loan amortization schedule is a schedule that shows the periodic loan payment of principal along with the interest after the end of each period.
The amount of payment for each month is same whereas the amount of principal and interest may vary.
The given schedule is a loan amortization schedule for three years. The principal amount in the 13th month is $325.82, 14th month is $328.19, 15th month is $330.57 and it keeps on increasing till the 19th month.
Therefore the correct statement is C.
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Answer: C The amount applied to the principal is increasing each month.
Explanation:
100% Edge
1.4 Why is Canada considered to have a branch-plant economy?
Answer:
Manufacturing companies set up branch plants to serve the Canadian market, thereby avoiding high freight costs and import duties.
Explanation:
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Marjorie's Mugs sold 300 mugs last year for $20 each. Variable costs were $7 per mug and total fixed costs were $1,700. Marjorie's Mugs' profit was ______. Multiple choice question.
Answer: $2200
Explanation:
profit= 300 * (20 - 7) - 1700 = 2200
Would you expect supply to play a more significant role in determining the price of a basic necessity like food or a luxury like perfume? Explain. Hint: Think about how the price elasticity of demand will differ between necessities and luxuries.
I would expect supply to play a more significant role in determining the price of a basic necessity.
Why would supply play a more significant role in determining the price of a basic necessity?
A basic necessity is a good that is needed by the population. For example, food is needed for survival. As a result, the demand for a basic necessity is usually inelastic. This means that the quantity demanded is not sensitive to price changes.
This means that supply would play a more significant role in determining the price of a basic necessity because of the inelasticity of demand for basic necessities.
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if i have a 38% on my final grade and i get a 100% on an assigment what will my grade be now!?
How do the instances when expansionary fiscal policy should be used compare with those for contractionary fiscal policy? (1 point)
Expansionary fiscal policy should be used to increase government revenue and contractionary fiscal policy should be
used to increase consumer spending.
Expansionary fiscal policy should be used to combat high inflation and contractionary fiscal policy should be used to
increase government revenue.
Expansionary fiscal policy should be used during recessions to help build the economy and contractionary fiscal
policy should be used when there is high inflation.
Expansionary fiscal policy should be used to decrease the unemployment rate and contractionary fiscal policy should
be used when economic growth is too fast.
The right option is that Expansionary fiscal policy should be used during recessions to help build the economy and contractionary fiscal policy should be used when there is high inflation.
How is expansionary fiscal policy compare to contractionary fiscal policy?Contractionary fiscal policy is known to be a policy that applies when the government taxes are said to be more than what they spends.
The Expansionary fiscal policy is known to be when the spending of the government is said to be more than the government taxes.
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A company received $2,000 of equipment and promised to pay for it next month. The increase in equipment would be recorded with a ______ to the Equipment account.
An increase in the equipment would be recorded with a debit to the Equipment account on the journal entry.
What is Equipment account in journal entry?in journal entry, an Equipment account is used to record the amount spent or received on any equipment.
In conclusion, the increase in the equipment would be recorded with a debit to the Equipment account on the journal entry.
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The increase in equipment would be recorded with a debit to the Equipment account.
Increase in equipmentBased on the information given if the company received the amount of $2,000 of equipment the increase in equipment would be recorded with a debit to the Equipment account.
The appropriate journal entry to record the transaction will be:
Journal entry
Debit Equipment $2,000
Credit Cash $2,000
(To record equipment)
Inconclusion the increase in equipment would be recorded with a debit to the Equipment account.
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A system that a country chooses to allocate its resources and distribute its goods and resources.
Answer: Your answer is an economic system.
Hope this helped!
Pharmakia is a company that develops and manufactures prescription medicines. Recently, pharmakia has been unable to obtain ingredients key to its medicines, is facing rapidly increasing labor costs, and is paying high tariffs when exporting its medicines. To mitigate these difficulties, pharmakia should consider becoming a:.
To mitigate the difficulties of not being able to obtain essential ingredients for the production of its medicines, facing high labor costs and paying high export tariffs, Pharmakia should consider becoming a countertrade.
What is countertrade?Corresponds to the reciprocal exchange of goods and services through international trade without the use of hard currency. It is a strategy generally used in developing countries, and its advantages are increased industrial growth and access to different items and raw materials.
Therefore, if Pharmakia becomes a countertrade, it can obtain the necessary resources for the production of its medicines in exchange for supplying them to a country through barter, reducing its costs and tariffs.
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Describe your most recent customer service experience in detail and what skills do you think could be applied to this position?.
A recent customer service experience could be described as one in which the representative served a meal with a smile on his/her face. Skills that could be applied to this position are patience, kindness, and empathy.
What is Customer Service?Customer service refers to the measures that are employed in delivering optimum service to customers.
The quality of service rendered will determine if the customer will want to patronize the business again. Effective communication and empathy are some skills required for this role.
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If Daniel's cupcake shop has fixed
costs of $10,000, and a variable cost
of $1.00 per cupcake, what are his
total costs if he sells 2,000 cupcakes?
Answer choices:
- $14,000
- $12,000
- $8,000
- $10,000
$1 per cupcake for 2000 cupcakes = $2,000
Add the fixed costs:
$2000 + $10000 = $12.000
Answer: $12,000
How many credit cards does the average american have.
Answer:
about 4
Explanation:
the average american has or did have 4 credit cards. .
The asset that is most susceptible to employee fraud is.
The asset in a company that is typically susceptible to fraud by the employees is known as cash.
What is an asset?An asset simply means the resource that is controlled or owned by a company.
The asset in a company that is typically susceptible to fraud by the employees is known as cash. It should be noted that an asset in a company is important as it can produce positive economic value.
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Danny mentions that he is only in business if his employees are happy to come to work. Based on mcgregor’s work, danny would have a ________ view of his employees.
Based on mcgregor’s work, danny would have a Theory Y view of his employees.
What is Theory Y?Theory Y view based on mcgregor’s theory means that for an employee to be motivated to come to work or for an employee to be productive at workplace the manager must provide a good and healthier working environment for their employee.
In Theory Y employees tends to take full charge of full responsibility at work place and they are often productive because they are happy to work due to the fact that they enjoy their job.
Inconclusion based on mcgregor’s work, danny would have a Theory Y view of his employees.
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What fraction with a denominator of 12 is equivalent to 3/6?
3/6=?
Answer:
6/12
Explanation:
The _ leader is never able to completely turn loose of the decision making authority of the management position.
It should be noted that Consultative leader is never able to completely turn loose of the decision making authority of the management position.
What is Consultative leadership?Consultative leadership can be regarded as a leadership style which focus on team building as well as making skills of others in making decisions.
Therefore, with Consultative leadership, decision can be made.
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The company shipped merchandise valued at $75,000 F.O.B. destination on December 23, year 2, and recorded the sale and relief of inventory on that date. The customer received the merchandise on December 31, year 2. The merchandise has a profit margin of 10%. Record the necessary year 2 adjustments, if any.
Answer:
A is the answer through Alex
Which statistical function will be most helpful to a cost accountant trying to determine the best cost driver for an activity?.
The statistical function that will help to determine the best cost driver for an activity is called Activity Cost Driver.
What is an Activity Cost Driver?This is an accounting term. It describes the factor which increases or decreases the cost of specific business activity such as labor, maintenance, and other variable costs.
Examples of Activity Cost Drivers are:
Machine setupspower consumedquality inspectionsproduction orders etc.See the link below for more about Activity Cost Driver:
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