Allocation bases that do not drive overhead costs a) will not accurately measure the cost of overhead used.'
Overhead costs are indirect expenses that cannot be traced directly to a specific product or service. They are usually divided into smaller parts using an allocation base. Common allocation bases include direct labor hours, machine hours, or direct material cost.
If the allocation base used does not drive the overhead costs, then the overhead costs are not accurately divided between the products or services. This can result in incorrect product costs, making it difficult to make informed business decisions.
Therefore, it is important to choose an allocation base that is directly related to the overhead costs. This will ensure that the overhead costs are accurately divided and allocated to the products or services, leading to more accurate product cost information.
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Ed and Fred produce Raincoats and Shirts. In a single day, Ed can produce either 60 Raincoats or 20 Shirts. Based upon this information alone, we know that
Answer:
Shirts take longer to make, and are possibly more expensive. use more material
Sales Promotion Agencies specialists design and then operate contests, sweepstakes, special displays, or coupon campaigns for advertisers
The statement '' Sales promotion agencies specialize in designing and operating various types of promotional campaigns for advertisers'' is correct.
These campaigns can include contests, sweepstakes, special displays, and coupon promotions. The goal of these promotions is to increase consumer awareness of and interest in a particular product or service.
The sales promotion agency works with the advertiser to determine the best type of promotion for their product and target audience, and then develops and implements the campaign.
This can involve tasks such as designing promotional materials, setting up and managing a website for the promotion, and handling the logistics of distributing prizes or coupons. The goal of these promotions is to increase sales and build brand loyalty.
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Complete question
Sales Promotion Agencies specialists design and then operate contests, sweepstakes, special displays, or coupon campaigns for advertisers. True of false?
The following are the trial balance and other information related to Soft Tech, a
consulting engineer.
Soft Tech, Consulting Engineer
Trial Balance
December 31, 2022
Debit Credit
Cash Br. 59,000
Accounts Receivable 99,200
Allowance for Doubtful Accounts Br. 1,500
Supplies 3,920
Prepaid Insurance 2,200
Equipment 50,000
Accumulated Depreciation—Equipment 12,500
Notes Payable 14,400
Share, Capital 104,020
Dividend 34,000
Service Revenue 200,000
Rent Expense 19,500
Salaries and Wages Expense 61,000
Utilities Expense 2,160
Office Expense 1,440
Br. 332,420 Br. 332,420
Other data:
1. Fees received in advance from clients Br.12,000.
2. Services performed for clients that were not recorded by December 31,
Br.9,800.
3. Bad debt expense for the year is Br.2,860.
4. Insurance expired during the year Br.960.
5. Equipment is being depreciated at 10% per year.
6. Fine Tech gave the bank a 90-day, 10% note for Br.14,400 on December 1,
2022.
7. Rent of the building is Br.1,500 per month. The rent for 2022 has been
paid, as has that for January 2023.
8. Salaries and wages earned but unpaid December 31, 2022, Br.5,020.
Instructions
a. From the trial balance and other information given, prepare annual
adjusting entries as of December 31, 2022.
b. Prepare the worksheet
c. Prepare an income statement for 2022, a statement of owner’s equity,
and a classified statement of financial position.
d. Maintain the necessary closing entry.
From the trial balance and other information given, the annual adjusting entries as of December 31, 2022 are prepared.
What are adjusting entries?Accounting journal entries made at the end of an accounting period after a trial balance has been prepared are referred to as adjusting entries. It enables us to allocate revenues and expenses to the fiscal period in which they occurred.
a. Adjusting Entries
1. Unearned Service Revenue:
Debit Service Revenue 12,000
Credit Unearned Service Revenue 12,000
2. Accrued Salaries and Wages:
Debit Salaries and Wages Expense 5,020
Credit Salaries Payable 5,020
3. Depreciation Expense:
Debit Depreciation Expense 5,000
Credit Accumulated Depreciation—Equipment 5,000
(Calculation: 50,000 x 10% = 5,000)
4. Supplies Expense:
Debit Supplies Expense 3,920
Credit Supplies 3,920
5. Insurance Expense:
Debit Insurance Expense 960
Credit Prepaid Insurance 960
6. Bad Debt Expense:
Debit Allowance for Doubtful Accounts 2,860
Credit Bad Debt Expense 2,860
7. Revenue Recognition:
Debit Unearned Service Revenue 9,800
Credit Service Revenue 9,800
b. Financial Statements
Income Statement for 2022
Service Revenue 209,800
Rent Expense 19,500
Salaries and Wages Expense 66,020
Utilities Expense 2,160
Office Expense 1,440
Depreciation Expense 5,000
Bad Debt Expense 2,860
Insurance Expense 960
Total Expenses 97,880
Net Income 112,920
Statement of Owner’s Equity
Capital, January 1, 2022 104,020
Net Income 112,920
Dividend 34,000
Capital, December 31, 2022 150,940
Classified Statement of Financial Position
Assets
Cash Br. 59,000
Accounts Receivable 99,200
Allowance for Doubtful Accounts Br. 4,360
Prepaid Insurance 1,240
Equipment 50,000
Accumulated Depreciation—Equipment 17,500
Total Assets 231,300
Liabilities
Notes Payable 14,400
Salaries Payable 5,020
Total Liabilities 19,420
Owners’ Equity
Capital 150,940
Total Liabilities and Owners’ Equity 231,300
d. Closing Entries
Debit Service Revenue 209,800
Credit Revenue 209,800
Debit Expense Accounts 97,880
Credit Income Summary 97,880
Debit Income Summary 112,920
Credit Capital 112,920
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Hugo lives in a country where individuals own all or most of the factors of production. Clearly Hugo lives in a ____ country.
Hugo lives in a country where individuals own all or most of the factors of production. Clearly Hugo lives in a capitalist country.
Capitalist country refers to the type of country in which several individuals or private individuals have the ownership of all the factors controlling the economy of the country. Government is not involved in the economical affairs rather it is the private entities who look after all the economical affairs. They make their own rules and they control the market and the economy. They can change the rules according to their will and the government will have no say in this. Within the capitalist countries, it is the rich elites who benefit and the middle class and lower class people suffer the most. Hugo also lives in a capitalist country which is controlled by elites.
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the johnson endowment is considering how to express a $50 million passive investment in u.s. domestic equities. it will either invest either through etfs or mutual funds. it expects to hold this investment for at least 10 years. assuming only the following data, and all else being equal, which is the better vehicle to express this investment, an etf or a mutual fund? assume that both vehicles will have similar tax implications.
The choice between investing in mutual funds or exchange-traded funds (ETFs) mostly depends on the investor's personal tastes and financial goals.
The decision between ETFs and mutual funds for passive investment in domestic U.S. equities will depend on a number of variables, including cost, liquidity, and convenience of use.
Since ETFs are traded on an exchange like stocks and often have lower management costs, they typically have fewer expenses than mutual funds. Contrarily, mutual funds provide a more practical means of investing in a diversified portfolio of equities and are frequently easier to access for individual investors.
When all other criteria are similar and the investment is anticipated to be held for at least ten years, selecting an ETF over a mutual fund may be more advantageous because of its lower expenses and higher tax efficiency.
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cathy is on her way to a customer service call to repair a broken computer when she gets a flat tire. she changes the tire and immediately gets back on road but arrives 20 minutes late for the appointment. she apologies to the customer and thinks everything is okay, until later when her supervisor calls her into his office and says that the customer called and said cathy fixed the problem, but that they were disappointed she was late.
Cathy's manager illuminated her that the client called and communicated frustration about her appearance being 20 minutes late. Cathy had encountered a punctured tire while heading to the arrangement and transformed it prior to proceeding with her excursion.
Cathy was in route to fix a messed up PC for a client when she had a punctured tire. She replaced the tire rapidly and forged ahead with her way, yet she showed up 20 minutes late for the arrangement. In spite of saying 'sorry' to the client, the client actually called her manager and communicated their mistake about the postponement. This shows that being on time for arrangements is a significant calculate consumer loyalty. Regardless of whether the work is performed well, a postponement can in any case have an adverse consequence and harm the relationship with the client. Cathy discovered that it means a lot to bend over backward to show up on time, in order to not endanger the client experience.
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Despite best efforts to ensure product safety, products that pose a danger to consumers sometimes reach the marketplace. At what point should marketers release information about a product’s safety to the public? How should marketers be held accountable if their product harms a consumer?
Answer:
It is important for marketers to release information about a product's safety to the public as soon as they become aware of any potential dangers. This allows consumers to make informed decisions about whether to continue using the product or to seek an alternative. Additionally, it is important for marketers to be transparent about any risks associated with their products in order to maintain consumer trust.
Marketers should be held accountable if their product harms a consumer by taking responsibility for the harm caused and compensating the affected parties. They should also take steps to prevent similar harm from occurring in the future. This can include recalling the product, offering refunds or replacement products, and implementing measures to improve product safety. Additionally, they may also be held legally liable and face penalties such as fines or penalties imposed by regulatory agencies.
Explanation:
Job order costing systems for companies that compete in, for example, the green building arena should reflect: only costs in dollars. only sustainability-related metrics. both costs of materials in dollars and sustainability-related metrics. neither costs of materials in dollars nor sustainability-related metrics.
Job order costing systems for companies that compete in, for example, the green building arena should reflect both costs of materials in dollars and sustainability-related metrics. Thus, option 3rd is correct.
What is Job order costing systems?Job costing is a type of accounting that monitors expenses and revenues by "work," allowing for consistent reporting of profitability per job. To enable job costing, an accounting system must allow job numbers to be allocated to individual costs and revenues.
Job order costing is a costing approach used to calculate the cost of producing each product. This pricing approach is typically used when a company creates a number of items that are distinct from one another and wants to assess the cost of performing a single operation. Hence, option 3rd is correct.
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______ is a system of principles that govern how a business operates, how decisions are made, and how people are treated.
group of answer choices O organizational culture O hierarchy O business ethics O adhocracy
Option c: Business ethics is a system of principles that govern how a business operates, how decisions are made, and how people are treated.
By definition, business ethics are moral principles that guide a company's conduct and dealings.
In many ways, the same guidelines that individuals follow for acceptable behavior apply to businesses, both personally and professionally.
Ultimately, acting ethically means determining what is "right" and what is "wrong." All over the world, there are basic standards that define what is wrong or unethical in business practice.
Business ethics are important to any business. Protect worker safety, keep trade and business interactions honest and fair, and generally improve goods and services.
Distinguishing between what companies stand for and what they don't stand for is not always the same for all organizations, but understanding basic ethical guidelines is an important component of corporate governance.
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Which of the following describes the cost of society having less pollution being offset by the benefits to society of the activity creating the pollution?
a. a. marginal cost of pollution
b. marginal cost of pollution abatement
c. optimum amount of pollution
d. indirect cost of pollution
The cost of society having less pollution being offset by the benefits to society of the activity creating the pollution are marginal cost of pollution abatement. Thus, option (b) is correct.
What is pollution?The term pollution refers to the unclean. Clean substances are involved in harmful chemicals. Pollution is a drawback to the environment. There are different types of pollution such as water, land, air, and noise pollution. Pollution is destroy the ecosystem and damage the living life of human.
The less pollution in the society are the more benefits. The crating the pollution the society are marginal cost of pollution abatement. The term is marginal cost of pollution is the additional environmental cost.
As a result, the significance of the pollution are the aforementioned. Therefore, option (b) is correct.
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You own Company X. When you started the company, you initially invested $12,000. You also borrowed $12,000 through a five-year (long-term) loan, of which you have paid back $2,018. You have retained $1,291 in earnings to be reinvested in the company, and you decided to put $1,000 of it aside for a long-term investment. The company owns land and a building worth $8,878 and equipment worth $4,230. As of today, the company has $8,250 in cash, $1,225 in inventory, and is due to receive accounts worth $675. However, the company owes its suppliers $485 and has a $500 loan to pay off in the next six months.
$37,369 - $11,967 = $25,402 in total assets
Therefore, Company X currently has a net value of $25,402.
What are borrowed funds?The activity of borrowing money from external sources like banks, financial institutions, or other lending organisations to finance the operations, investments, or expansion of a business or individual is known as debt financing and is also referred to as borrowing cash. Usually taking the form of loans or bonds, borrowed money is utilised as an alternative to equity financing. Usually, they come with interest and are paid back over time. In comparison to equity financing, borrowed money might be more flexible, but it also carries the risk of increased interest costs and significant damage to credit ratings.
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Suppose that an increasing number of traffic collisions observed on state roads lead the governor to implement the rule that all registered vehicles must be equipped with front and side airbags. These airbags reduce the probability of serious infury in a motor vehicle collision by
62%. The new airbags ______ the probability that a driver will be injured in a traffic collision, but also give motorists an incentive to drive more _____, which could potentially _______ the number of car accidents that occur on state roads.
Suppose that an increasing number of traffic collisions observed on state roads lead the governor to implement the rule that all registered vehicles must be equipped with front and side airbags. These airbags reduce the probability of serious injury in a motor vehicle collision by 62%. The new airbags decrease the probability that a driver will be injured in a traffic collision, but also give motorists an incentive to drive more increase, which could potentially increase the number of car accidents that occur on state roads.
A traffic light coalition generally can be defined as a regulation of traffic that formed in Rhineland-Palatinate following the 2016 Rhineland-Palatinate state election. The 2021 Rhineland-Palatinate state election marked the first time in German history that an outgoing traffic light coalition was replaced by a renewed traffic light coalition in a state election.
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Characterizing a concept in terms of the operations or procedures by which it is to be measured for a specific research endeavor is a way of expressing which of the following? a. A variable
b. An operatonal definition
c. A conceptual model
d. A conceptual definition
Characterizing a concept in terms of the operations or procedures by which it is to be measured for a specific research endeavor is a way of expressing: b. An operational definition.
What is an operational definition?An operational definition can be defined as a clear and specific statement of the procedures that is used to measure or define a particular variable in a research study.
An operational definition is used to ensure the reliability and validity of data collection and analysis, and to make research results easily replicable and interpretable.
Therefore the correct option is B.
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Hak Young has accumulated some credit card debt while he was in college. His total debt is now $23,864.00 and his credit card charges 18% interest compounded monthly. He is getting worried about his debt and is determined to pay it off completely.
What would Hak Young’s minimum monthly payment have to be in order to pay off his debt in 5 years?
What will be the total interest paid?
In the fields of finance and economics, interest is the payment of a sum over .
What is Interest ?Above the principal amount to a lender or depositor by a borrower or deposit-taking financial institution at a set rate. It is not the same as a fee that the borrower might pay to the lender or another entity.
[tex]L = current balance or amount owed = $13,864.82i = interest rate per month = 0.19/12\\ = 0.01583 (approximate)n = number of months\\ = 5*12 = 60[/tex][tex]P = monthly paymentP = (L*i)/( 1-(1+i)^(-n) )P = (13,864.82*0.015833 )/( 1-(1+0.01583 )^(-60) )\\P = 359.66107 \\which is approximateP = 359.66His minimum payment is $359.66 per month.Total paid back = P*nTotal paid back = 359.66*60Total paid back = 21,579.60Total interest = (Total paid back) - (amount owed)Total interest = (21,579.60) - (13,864.82)Total interest = $7,714.78\\Answers:Min payment = $359.66 per monthTotal interest = $7,714.78\\[/tex]
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Explain why and how price floors distort the market
Price floors prevent a price from falling below a certain level. When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result.
How does price floors distort the market?Price floors cause market distortions in a variety of ways. They, for example, encourage inefficiency. Some suppliers who were unable to compete at a lower market equilibrium price can now survive and thrive at the higher government-mandated price level.
Consumers pay more for the product, thereby subsidizing inefficiencies. Because of the higher price, consumers buy less, so some would-be buyers are unable to afford the product or choose not to buy it.
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Example Co is considering investing in a wind facility. Please create income statements, balance sheets, and cash flow statements for 5 years for this proposed investment considering the following assumptions:
Prior to the investment, the project’s beginning cash balance is $7 million and there are no other assets, no debt and 230,000 shares of common stock are outstanding.
The cost per installed turbine is $5 million and Example plans to install 10 turbines.
Example plans to finance this investment with 50% debt, 40% equity, and 10% cash. The terms of the debt include no principal repayments until the end of year 25 and a 6% interest rate. The current share price of Example stock is $35. Assume no dividend payments during the first 5 years.
The life of the facility is 25 years. Assume book and tax depreciation are the same.
There are no required ongoing capital expenditures.
The facility will produce 87,600 mega watt hours (MWh) of electricity per year and the initial sales price is $40 per MWh of electricity sold. The price of electricity is expected to escalate at 2% per year. Assume full year production in year 1 and each year thereafter.
The facility will employ 2 employees earning $40,000 per year. There is a 65% overhead on their labor. It is expected that labor expense will increase by 3% per year.
The income tax rate is 40%. Assume there are no other taxes (e.g., sales and property taxes).
Based on your results, what is your recommendation regarding this investment?
Based on the results, the recommendation regarding this investment is that the company should invest in the wind facility.
What is investment?A person or any entity like a company or business earns money . They either spend that money on consumption or save it and invest it. Investment means putting the savings in any form of asset created to help a person grow the money.
In other words, an investment is a financial asset that is bought with the idea that it will provide you with higher returns in the future. You will sell it at an amount higher than the cost price and make a profit.
An investment helps a person create wealth that can be used as an emergency fund like during any health emergency, education, etc. Based on the results, the recommendation regarding this investment is that the company should invest in the wind facility.
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Engineers for the Off Road Skateboard Company have determined that a 10% increase in all inputs will cause output to increase by 5%. Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases. A. total cost to decrease
B. average costs to decrease
C. average costs to increase
D. average fixed costs to increase
The option b, "average costs to decrease," is the one that corresponds to the given statement.
What does "average cost" mean?Average cost, also known as unit cost, in economics is calculated by dividing the total cost (TC) by the quantity of a good generated (the output Q): Average cost strongly influences how businesses decide to price their goods.
What are the total cost and average cost?The cost of the item is calculated by dividing the total cost of production by the total output. In other words, the median cost is the sum of the firm's total fixed and variable costs divided by the sum of the units it produces.
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(1 point) rework problem 25 from section 1.3 of your text, involving a drug marketing survey. assume that 175 surveys are completed. of those surveyed, 85 responded positively to effectiveness, 89 responded positively to side effects, and 80 responded positively to cost. also, 46 responded positively to both effectiveness and side effects, 39 to effectiveness and cost, 43 to side effects and cost, and 25 to none of the items. How many responded positively to all three?
The number of people who responded positively is -97. Since the answer is negative, it means that the number of people who responded positively to all three is 0.
To find the number of people who responded positively to all three, we need to subtract the number of people who responded positively to two or fewer items from the total number of people surveyed.
First, we need to find the number of people who responded positively to exactly two items:
Responded positively to effectiveness and side effects: 46
Responded positively to effectiveness and cost: 39
Responded positively to side effects and cost: 43
So, 46 + 39 + 43 = 128 people responded positively to exactly two items.
Next, we need to find the number of people who responded positively to exactly one item:
Responded positively to effectiveness: 85 - 46 = 39
Responded positively to side effects: 89 - 46 = 43
Responded positively to cost: 80 - 43 = 37
So, 39 + 43 + 37 = 119 people responded positively to exactly one item.
Finally, we subtract the number of people who responded positively to two or fewer items (128 + 119 + 25 = 272) from the total number of people surveyed (175):
175 - 272 = -97
Thus, the result is -97
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True or False : When higher-priced or technically complex business products are involved, business customers prefer to deal directly with producers rather than through intermediaries.
n order to calculate marginal cost, producers must compare the difference in the cost of producing one unit to the cost of
purchasing a unit.
distributing that unit.
producing the next unit.
producing a different unit.
In order to calculate marginal cost, producers must compare the difference of producing one unit to the cost of producing the next unit.
What does the economic definition of consumers and producers mean?The buying and selling is carried out by producers and customers. To pay for the goods and services that producers generate, consumers utilize their money. A large majority of people are both consumers and producers. Those that make or provide a certain good (product) or service are known as producers.
What purpose in the economy does a producer serve?Those who create and offer goods or services are known as producers. Factor inputs, such as labor and capital, are commonly combined by producers to create new things. The principal producers that economists often consider when referring to producers are business firms.
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Answer:
It's C.
Explanation:
Edge 2020.
Which of the following statements is the best explanation for why B2B firms sometimes choose to retain a focus on their co product while engaging partner firms to jointly provide a total solution (i.e., a product bundled with additional services)? A. B2B customers do not perceive value for additional services offered beyond the core product B. Any move a B2B firm makes beyond its core capability or technology can have an adverse effect on its ability to reach the markets it is trying to serve, its skills in executing effectively, its ability to create and deliver offerings across all of its markets, its ability to work effectively with its collaborators, and/or its ability to thrive against competition. C. B2B companies are not able to charge more for additional services beyond the value of their core product
D. B2B companies tend to thrive the more risk averse they are towards the markets they serve
The statement that is the best explanation for why B2B firms sometimes choose to retain a focus on their co product is: B. Any move a B2B firm makes beyond its core capability or technology can have an adverse effect on its ability to reach the markets it is trying to serve, its skills in executing effectively, its ability to create and deliver offerings across all of its markets, its ability to work effectively with its collaborators, and/or its ability to thrive against competition.
What is B2B?B2B which full meaning is business to business can be defined as a form of business transaction that is carried out between two business owners.
Example of business to business transaction is when a business owner sells it goods or product to another business owners rather to an individual.
Therefore the correct option is B.
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Which of the following companies is most likely to achieve the human resource management (HRM) goal of complying with legal and social obligations?
a. A company that hires specialized employees to remain competitive
b. A company that gives its employees the freedom to act and make decisions as they deem fit
c. A company that makes sure its employees are aware of regulatory requirements
d. A company that develops practices to promote ethnocentrism
c) A company that makes sure its employees are aware of regulatory requirements will most likely to achieve the human resource management (HRM) goal of complying with legal and social obligations.
One of the key goals of human resource management (HRM) is to comply with legal and social obligations. A company that makes sure its employees are aware of regulatory requirements is most likely to achieve this goal as it ensures that all employees are following the same rules and regulations, reducing the risk of legal or ethical violations.
This type of company is taking a proactive approach to HRM and prioritizing the compliance of its employees with the law. This type of company also ensures that its employees understand the company's position on ethical matters, promoting a positive work culture and reducing the risk of any kind of misconduct.
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maximization of shareholder wealth is a concept in which multiple choice increased earnings is of primary importance. profits are maximized on an annual basis. virtually all earnings are paid as dividends to common stockholders. optimally increasing the long-term value of the firm is emphasized.
(D) maximizing the firm's long-term value is a concept that emphasizes maximization of shareholder wealth.
What exactly is meant by "maximizing shareholder wealth"?The management of a company is said to have the primary objective of maximizing shareholder wealth. By increasing the firm's (or its shares') long-term value, this is accomplished. A concept that places an emphasis on optimally increasing the company's long-term value is called "maximizing shareholder wealth."
The fact that the stock price has increased indicates that the wealth of the shareholders has increased during that time. As a result, shareholders' wealth is examined as a result of profit maximization. However, shareholder wealth does not always result from profit maximization.
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1. On July 1, Salvatore, the owner invested $10,500 cash into the company.
The journal entry for the investment of $ 10, 500 by the owner, Salvatore, into the company, is:
Date Account Title Debit Credit
July 1 Cash $ 10, 500
Owner's Capital, Salvatore $ 10, 500
How to record investment by owners ?When an owner makes an investment into their company as was done by Salvatore in the question, the owner's capital account is to be credited to show that the capital account is increasing.
The account that would then be debited would be the cash account because the investment would increase the amount of cash that the company has. The debit is because the cash account is an asset account and they are debited when they increase.
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The rest of the question is:
Show the record of this transaction as a journal entry.
if the supply curve of a product changes so that sellers are now willing to sell 2 additional units at any given price, the supply curve will
The correct answer to this question is option B. If the supply curve of a product changes so that sellers are now willing to sell 2 additional units at any given price, the supply curve will shift rightward by 2 units.
The amount of a resource that businesses, producers, workers, providers of financial assets, or other economic agents are willing and able to offer to the market or to a specific person is known as supply in economics. Supply can refer to manufactured items, labor hours, raw resources, or any other in-demand or pricey item.
An adjusted net income figure that accounts for changes in expenses throughout the course of the company's reporting period is known as the current cost of supplies (CCS).
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list and explain 2 external factors and 2 internal factors that could lead to a business going bankrupt.
Lack of capital, the retention of an inadequate management team, a deficient infrastructure or business model, and inefficient marketing techniques are among the most common reasons for small business failure.
What factors, both internal and external, are responsible for corporate distress?This study suggests that the case company's financial issues may be brought on by both internal and external reasons, including altered accounting rules, a tighter monetary policy, aggressive investment practices, high levels of financial leverage, and poor business tactics.
What features of bankruptcy influence it?Instances of postdated, dishonored, or bounced checks. that the business has been threatened with legal action by other creditors over unpaid or late bills. The corporation is served with official notices of its bankruptcy. It has become difficult to pay employees' salaries or wages.
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Anauiitor is examining the significant in 2ecounts rece informs the auditor that the differences the
fecuson colletionsina timely manner. The auditor then gathers evidence to support timely collections and does not examine the
‘number of customers or the amount being purchased on credit. Which of the following bases has occurred?
A-anchoring bias
B-overconfidence bias
C-confirmation bias
D-availability bias
Anchoring bias is one of the bases which has occurred. Hence, option A is appropriate.
What is the meaning of Anchoring Bias?A particular point of comparison or "anchor" can have an impact on a person's decisions due to the anchoring effect, a cognitive bias. Research has noted both numeric as well as non-numeric anchoring.
When making decisions, persons who have an anchoring bias tend to rely too heavily on facts that they already know or that they find initially.
The tendency for people to place an excessive amount of weight on the first piece of data they learn about a subject is known as anchoring bias. Whether or not that information is accurate, people utilize it as a guiding principle or anchor when making subsequent decisions.
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) Nuru Meda Golf and Driving Range plc was opened on March 1 by Nuru. The following selected events and transactions occurred during March. Mar. 1 Invested Br.120,000 cash in the business in exchange for ordinary shares. 3 Purchased Mechare Meda’s Golf Land for Br. 76,000 cash. The price consists of land Br. 20,000, building Br. 44,000, and equipment Br. 12,000. (Make one compound entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses of Br. 3,200. 6 Paid cash Br. 2,480 for a 1-year insurance policy. 10 Purchased golf equipment for Br.5,000 from Young Company, payable in 30 days. 18 Received golf fees of Br.2,400 in cash. 25 Declared and paid a Br.2,000 cash dividend. 30 Paid salaries and wages of Br.1,800. 0 Paid Young Company in full. 31 Received Br. 1,500 of fees in cash. Snyder uses the following accounts: Cash, Prepaid Insurance, Land, Buildings, Equipment, Accounts Payable, Share Capital—Ordinary, Dividends, Service Revenue, Advertising Expense, and
Answer:
The following compound entry can be made to account for the events and transactions that occurred during March:
Debit Credit Cash 120,000 Land 20,000 Buildings 44,000 Equipment 12,000 Accounts Payable 5,000 Share Capital—Ordinary 120,000 Dividends 2,000 Service Revenue 2,400 Advertising Expense 3,200 Prepaid Insurance 2,480 Salaries and Wages 1,800 Fees 1,500
This compound entry records the initial investment of cash into the business, the purchase of Mechare Meda’s Golf Land, the payment of advertising expenses, the purchase of golf equipment on credit, the receipt of golf fees in cash, the declaration and payment of a cash dividend, the payment of salaries and wages, and the receipt of fees in cash.
An industry based on which of the following would most likely take advantage of lower costs in some less developed foreign countries?
a. assembly line production
b. specialized professional services
c. nuclear missile programs
d. development of more sophisticated computer technology
Lower costs would most likely benefit from lower costs in some less developed countries: (A) assembly line production.
The required details for assembly line in given paragraph
An assembly line is a manufacturing process in which parts are added as inventory moves from one work station to another, with parts being added sequentially until final assembly. By mechanically moving and rolling parts from one work station to another for assembly work, the finished product can be assembled faster and with less effort than if workers had to move parts to a fixed component for assembly work. Assembly lines are common methods of assembling complex components such as automobiles and other transportation equipment, household appliances, and electronic devices. Employees who are responsible for work on the assembly line are called assemblers. Lotus Cars assembly line since 2008. Assembly lines are designed to arrange workers, tools or machines and parts in order. Business trips are reduced to a minimum as far as possible. All parts or assemblies are moved by conveyor belts or motorized vehicles such as forklifts or by gravity without manual handling.
Heavy lifting is done by machines such as overhead cranes or forklifts. Each employee typically performs one task, unless there are job rotation strategies.
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typical benefits to owning common stock include multiple select question. legal obligation for repayment dividends guaranteed cash flow voting rights
Ordinary share holders normally receive the following three benefits: right to vote, profits, and limited liability. On averages and over time, common stock has shown to be an useful source of return for investors through investment income and regular dividends.
What advantages and rights do owners of common stock have?Six rights are granted to common shareholders: vote authority, stock, the ability to transfer stake, dividends, the ability to view corporate records, and the ability to bring legal claims for wrongdoing.
What are the benefits and drawbacks of stock ownership?Benefits and Drawbacks of Common Stock
Bond and deposit certificates perform worse than common stocks. Therefore, there is no cap on how much money an investor can make from holding ordinary stock. Common stocks are thus more affordable and useful alternatives to debt investment.
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