Business

On January 1, Bloomingdale, Inc. borrows $92,000 from First Estate Bank. The loan is due in one year along with 4% interest. The company is preparing its quarterly report for March 31. Which of the following best describes the necessary accrual for interest expense?a. $3,680 decrease liabilities, decrease cash b. $3680 increase expenses, decrease cash c. $ 920 decrease abilities, decrease cash d. $920 increase abities, increase expenses
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After a rough week and against her better judgment, Pari tells Vihaan she is tired of arguing with him over trip reports. She makes an exception for him and, against policy, says he no longer needs to fill them out. A week later, another sales rep comes to her and asks to stop preparing reports, just like Vihaan. Why do you think Pari now has a managerial problem
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write a story that ends with and it was all a dream
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Select the correct answers.Goods Ltd. is an FMCQ goods manufacturer. It plans to introduce new products in the market within its existing product category. Which ofthese terms describes the company's action?O A. category extensionOBline extensionOC.line pruningODline stretching
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The financial statements of New World, Incorporated, provide the following information for the current year: December 31 January 1 Accounts receivable $ 287,000 $ 381,500 Inventory $ 280,000 $ 266,000 Prepaid expenses $ 72,800 $ 70,000 Accounts payable (for merchandise) $ 258,300 $ 249,550 Accrued expenses payable $ 66,150 $ 79,450 Net sales $ 3,167,500 Cost of goods sold $ 1,669,500 Operating expenses (including depreciation of $63,000) $ 381,500 What is the amount of cash received from customers during the current yea
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You have been given the following information about the production of Usher Co., and are asked to provide the plant manager with information for a meeting with the vice president of operations. Standard Cost Card Direct materials (5 pounds at $5 per pound) $25.00 Direct labor (0.90 hours at $10) 9.00 Variable overhead (0.90 hours at $4 per hour) 3.60 Fixed overhead (0.90 hours at $9 per hour) 8.10 $45.70 The following is a variance report for the most recent period of operations. Variances Costs Total Standard Cost Price Quantity Direct materials $405,000 $8,298 F $9,900 U Direct labor 145,800 4,590 U 7,200 U(a) How many units were produced during the period? (Round answers to 0 decimal places, e.g. 125.)Number of units You have been given the following information abou(b) How many pounds of raw material were purchased and used during the period? (Round answers to 0 decimal places, e.g. 125.)Raw material You have been given the following information aboupounds(c) What was the actual cost per pound of raw materials? (Round to 2 decimal places, e.g. 1.25.)
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Wember Catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. The cost formula for catering supplies is $400 per month plus $82 per job plus $10 per meal. A typical job involves serving a number of meals to guests at a corporate function or at a host's home. The company expected its activity in September to be 20 jobs and 144 meals, but the actual activity was 16 jobs and 141 meals. The actual cost for catering supplies in September was $3,100. The catering supplies in the planning budget for September would be closest to:
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Brief Exercise 9-10 Cullumber Company sells equipment on September 30, 2019, for $16,000 cash. The equipment originally cost $71,000 and as of January 1, 2019, had accumulated depreciation of $41,000. Depreciation for the first 9 months of 2019 is $4,750. Prepare the journal entries to (a) update depreciation to September 30, 2019, and (b) record the sale of the equipment.
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Required: 1-a. Prepare a contribution format income statement for the game last year. 1-b. Compute the degree of operating leverage. 2. Management is confident that the company can sell 41,796 games next year (an increase of 9,396 games, or 29%, over last year). Given this assumption: a. What is the expected percentage increase in net operating income for next year
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I know this is very off topic and I might get banned for this but... I just got a guinea pig. He is Black and Brown with ,like one TINY maybe not even and full inch, bit of white. He is a boy and I need help naming him! Please leave some names in the answers and comments! {P.S. I'm probably going to get banned but whatever.} {P.P.S. This is very Business-ey.}
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Cullumber Co. at the end of 2020, its first year of operations, prepared a reconciliation between pretax financial income and taxable income as follows: Pretax financial income $1230000 Estimated litigation expense 3050000 Installment sales (2440000) Taxable income $1840000 The estimated litigation expense of $3050000 will be deductible in 2022 when it is expected to be paid. The gross profit from the installment sales will be realized in the amount of $1220000 in each of the next two years. The estimated liability for litigation is classified as noncurrent and the installment accounts receivable are classified as $1220000 current and $1220000 noncurrent. The income tax rate is 20% for all years. The deferred tax asset to be recognized is
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The law of diminishing marginal returns: a. states that each and every increase in the amount of the variable factor employed in the production process will yield diminishing marginal returns b. is a mathematical theorem that can be logically proved or disproved c. is the rate at which one input may be substituted for another input in the production process d. none of the above
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Estelle is a recent accounting graduate, and while she likes the idea raised by her fellow graduate Fernando to set up business in a partnership together, she has always wanted to go into business for herself. Before Estelle makes a decision, her instructor tells her it would be a good idea to consider the effect of different tax structures on each type of business, just in case she favors one situation more than the other. Compare and contrast how partnerships and sole proprietorships differ in terms of their tax requirements.Sanjay was recently alerted to the fact that his business will be audited by the IRS. What are some possible causes for Sanjays business being selected for audit? What will this audit likely entail? How can Sanjay prepare?After getting his first paycheck, Marlon is incredulous at the amount of money that goes to FICA. Who in the world is FICA? he asks his mother. How does she reply?Eloise has exactly $300 to spend on an airline ticket. Assuming that she will need to pay the passenger ticket tax, the passenger facility charge, and the Sept. 11th fee, what is the maximum base ticket price Eloise can still afford to pay, knowing that she has all these additional fees and taxes to pay? Explain.Sloan has always been pretty lax about preparing her taxes, and she doesn't pay too much attention to the rules. However, after taking a class on tax fraud, she is a bit concerned that some of the information in her past tax returns may be questionable. Sloan should only be worried about tax fraud if shes made certain mistakes in the past. What kind of mistakes should Sloan be concerned about? Explain.
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how can the size of the industrial/service sector and the agriculture employment rate indicate the level of industrialization?
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In 1994, president Clinton said the new trade agreements would create a market for American products in China. What happened to the American companies after opening trade with China?
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20 POINTS AND BRAINLIEST. Mike wants to pursue a job in energy. He goes to college to becomean electrician but before he can have his own license, he must workfor a licensed electrician for two years to gain experience. This is anexample of a(n)internshipapprenticeshipbachelor's degree programdoctorate program
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During December, the production department of a process operations system completed and transferred to finished goods a total of 65,000 units of product. At the end of December, 15,000 additional units were in process in the production department and were 80% complete with respect to materials. The beginning inventory included materials cost of $57,500 and the production department incurred direct materials cost of $183,000 during December. Compute the direct materials cost per equivalent unit for the department using the weighted-average method. rev: 10_05_2019_QC_CS-184681 Multiple Choice $3.70. $2.38. $2.82. $3.12. $4.79.
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Promotion to consumers is called ?
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Watmore Ltd. purchased, for cash, factory equipment with an invoice price of $80,000. Other costs incurred were freight costs, $1,600; installation, wiring and foundation, $13,500; material and labour costs in testing equipment, $500; oil lubricants and supplies to be used while operating the equipment, $750; fire insurance policy covering equipment, $1,400. The equipment is estimated to have a $10,000 residual value at the end of its 8-year useful service life. Instructions(a) Calculate the cost of the equipment.(b) Record the purchase of the equipment.(c) Calculate the annual depreciation expense, assuming the straight-line method of depreciation is used.
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by wrworkbook:1.1 Assets minus Owner's EquityA. Current liabilitiesB. CapitalC. LiabilitiesD. Current assets
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Knowledge Check 01 The standard quantity per unit defines the ________. multiple choice price that should be paid for each unit of direct materials. total cost of direct materials that should be used for each unit of finished product. amount of direct materials that should be used for each unit of finished product including an allowance for normal inefficiencies, such as scrap and spoilage. amount of direct labor-hours that should be used to produce one unit of finished goods.
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Suppose that applying for membership in the European Monetary Union (EMU) is expensive, so three hypothetical countries, Baltia, Polsha, and Atlantida, have come to you with their relevant data and want advice on if they should apply to join the EMU. Suppose that the average inflation rate of the three European countries with the lowest inflation rates is 3.0%, and the average long-term interest rate of those countries is 3.2%. Evaluate the characteristics of Baltia, Polsha, and Atlantida presented in the following table using the Maastricht convergence criteria. Then, complete the bottom row by identifying whether each country is eligible to become an EMU member.Criteria Baltia Polsha Atlantida Inflation 4.5% 4.0% 4.1% Long-term interest rates 5.0% 4.0% 3.0%Exchange rates Last devaluated three years ago Stable Stable Budget deficit 2.4% of GDP 3% of GDP 2.1% of GDPDebt outstanding 45% of GDP 45% of GDP 46% of GDP Qualifies to enter the EMU ? ? ?
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Teozocior.01.010o.Which of the following is true of downward communication?a. Recording a project's results and accomplishments involves downward communication...O b. The process of creating progress reports is an example of downward communication.5.c. Problem solving and clarifications in organizations involve downward communication.7.d. Orientation to a company's rules and practices is an element of downward communication.8.9.10.C11.
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