The following are the required units for the Pro forma Income Statements, Sales, and Variable Cost Volume Variances. :
Give a brief account on Pro Forma."For the purpose of form" or "as a matter of form" is what "pro forma" means. It serves as a reminder that certain assumptions or expectations were employed while calculating financial outcomes when it appears in financial statements. Pro forma financials aren't calculated in accordance with generally accepted accounting principles (GAAP) and typically omit one-time charges that aren't related to ongoing business operations, like the costs associated with restructuring after a merger.
In essence, a pro forma financial statement can eliminate anything that a firm thinks obscures the veracity of its financial prognosis and can be a helpful piece of information to help evaluate a company's future prospects.
To solve the question :
These are the specifications for the Pro forma Income Statements, Sales, and Variable Cost Volume Variances :
Narcisco Publications
Pro forma Income Statements
29,000 units 30,000 units 31,000 units
Sales Revenue $2,610,000 $2,700,000 $2,790,000
Variable costs 1,566,000 1,620,000 1,674,000
Contribution margin $1,044,000 $1,080,000 $1,116,000
Fixed Costs:
Manufacturing overhead $270,000 $270,000 $270,000
Selling, general, & administrative 108,000 108,000 108,000
Total Fixed costs $378,000 $378,000 $378,000
Operating Income $666,000 $702,000 $738,000
Sales and Variable Cost Volume Variances :
Planned Actual Variance
Budget Budget
30,000 units 31,000 units 1,000 units F
Sales Revenue $2,700,000 $2,790,000 $90,000 F
Variable costs 1,620,000 1,674,000 54,000 U
Data and Calculations :
Standard price
Sales price $ 90.00
Materials cost 18.00
Labor cost 9.00
Overhead cost 12.60
SGA costs 14.40
Total variable costs $54.00
Contribution margin $36.00
Planned fixed costs
Manufacturing overhead $ 270,000
Selling, general, and administrative 108,000
Narcisco anticipated 30,000 units in sales and production.
Planned Actual Variance
Budget Budget
30,000 units 31,000 units 1,000 units F
Sales Revenue $2,700,000 $2,790,000 $90,000 F
Variable costs 1,620,000 1,674,000 54,000 U
Contribution margin $1,080,000 $1,116,000 $36,000 F
Fixed Costs:
Manufacturing overhead $270,000 $270,000 $0
Selling, general, & administrative 108,000 108,000 $0
Total Fixed costs $378,000 $378,000 $0
Operating Income $702,000 $738,000 $36,000 F
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How can you adapt your venture to track reactions and make improvements? (Select all that apply.)
A. change the price
B. change the packaging
C. change the sales pitch
D. change the variables
Changing the price, sales pitch, and packaging are all necessary. Adjust your plan as needed in response to feedback.
What do you think a venture is?a task that involves chance, risk, or danger. especially: a speculative commercial venture, risky behavior, or something involved in an imaginary venture (such money or property). an endeavor that involves risking money or another asset in the hopes of making money.
What types of businesses are there?The many types of venture investment are divided into groups based on the stages of a company's development. The three primary forms of venture capital financing are early stage finance, growth financing, and acquisition/buyout financing.
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the internal revenue service reports that the mean federal income tax paid in the year 2010 was $8040. assume that the standard deviation is $4700. the irs plans to draw a sample of 1000 tax returns to study the effect of a new tax law. part: 0 / 50 of 5 parts complete
The IRS plans to draw a sample of 1000 tax returns to study the effect of a new tax law so, the required probability is 0.3936.
Population Mean,μ = 8040.0, Population Standard Deviation,σ = 4700.0, and sample size n = 1000. x = 8040.0; σx = σ/√n = 4700.0 /√ 1000 = 148.6271. x is a random variable that follows a normal distribution. So, x~N(x = 8040.0 σx = 148.6271 ).
Now, We Have To Compute P (x < 8000.0 ), Therefore, p(x <8000.0) = p(x-x /σx<8000.0 – 8040.0/148,6271) = p(z < -0.27 ) = 0.3936. The required probability is 0.3936.
The United States federal government's revenue agency, the Internal Revenue Service, is in charge of obtaining federal tax payments. State income taxes are gathered by the particular state(s) where a taxpayer resides and derives income, whereas federal income taxes are gathered by the federal government.
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briefly list and elaborate on the factors that will be affecting the demand for the following products in the next several years. do you think these factors will cause the demand to increase or decrease? a. convenience foods (sold in food shops and supermarkets) b. Products purchased on the Internet c. Fax machines d. Film and cameras e. Videos rented from retail outlets f. Pay-per-view television programming g. Airline travel within the United States; airline travel within Europe h. Gasoline
The factors that affect demand are price, customer preferences and the economy of the country.
What is demand?The quantity of a good that consumers are willing and able to purchase at various prices at a specific moment is referred to as demand in economics. The relationship between price and quantity demand is referred to as the "demand curve." Complements and replacements are the key products that are linked. A complement is a good if it is used with the primary good. As the cost of the supplement grows, so does demand for the other good. The other significant group of connected products is substitutes. Alternative products can be used in place of essential ones. There is a positive mathematical relationship between the price of the substitute and the demand for the product in issue. If the cost of a substitute falls, demand for the in question good falls.
Price: Price is one of major factors that can affect demands of products.
Customer preferences: It also depends on what the customers are looking for when it comes to buying these products.
The economy of country: If the economy is unstable, people won't have enough money that can affect the demand.
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Which of the following is a basic requirement that must be met in order to contribute to a Roth IRA? O All of these answer choices are correct. O Your adjusted gross income must be less than a specified amount. O You must have earned income. You may only contribute up to a specified annual limit.
The correct answer to the basic requirements that must be met in order to contribute to a Roth IRA is option A) All of these answer choices are correct.
The basic requirements that must be met in order to contribute to a Roth IRA are Your adjusted gross income must be less than a specified amount. You must have earned income. You may only contribute up to a specified annual limit.
An account used to save for retirement is known as an individual retirement account (IRA). A Roth IRA is a particular kind of tax-advantaged individual retirement account that allows after-tax contributions. The main advantage of a Roth IRA is that, if the account has been open for at least five years, your contributions and the returns on those contributions may grow tax-free and may be withdrawn tax-free after the age of 59 and half. In other words, you pay taxes on the money you deposit into a Roth IRA, and all withdrawals you make after that are tax-free.
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stock price for vinyl record player?
To give you an idea the stock price, beginner to advanced record player installations can range from $50 to $450, depending on a number of variables.
What is current stock price?It is the latest trading price for a share of stock or any other security. The present price serves as the starting point in an open market. It shows the price that a buyer and seller would be prepared to accept for a later transaction involving that security.The current price is only an indication and not a promise. The future sale price on an exchange is not determined by the present price. The security's price will fluctuate over time as supply and demand factors change.Using the current value accounting method, assets are valued at their replacement cost rather than their initial cost.Cash price is the same as current price because it refers to the most recent quoted price on an exchange.Learn more about current stock price refer to :
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Suppose the Federal Reserve sets the reserve requirement at 10 percent, banks hold no excess reserves, and no additional currency is held. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. What is the money multiplier? b. By how much will the total potential money supply change if the Federal Reserve changes the amount of reserves by -$50 million? $ million C. Suppose the Federal Reserve wants to decrease the total money supply by $600 million. By how much should the Federal Reserve change reserves to achieve this goal?
In order to support a robust economy for U.S. households, communities, and businesses, the Federal Reserve keeps an eye on the risks to the financial system and participates both domestically and internationally.
What are the 12 government holds?
Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco are the Reserve Banks, which are designed to be decentralized.
A: What is the multiplier of wealth? 10
B: If the Federal Reserve changes the amount of reserves by 50 million, by how much will the total money supply change? 500,000,000
C: Let's say the Federal Reserve wants to bring the total amount of money on hand down to $600 million. To achieve this objective, how much should the Federal Reserve change its reserves? sixty million.
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a rumor involves supposed company policies or practices that are threatening or ideologically undesirable to consumers.
Answer:
Planted rumor is a rumor that involves supposed company policies or practices that are threatening or ideologically undesirable to consumers.
Explanation:
RumorFalse information is passed from person to person through rumors. This is done primarily for amusement.
Rumors can occasionally have a negative impact on someone's emotional well-being.
Rumors are any news or information that has no real support or validation. Numerous rumors about different people are propagated on a daily basis.
However, there are occasionally rumors that are so bad they might even result in harassment. Therefore, it is important to avoid disseminating misleading information without a person's knowledge.
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What is the purpose of a financial plan?; What is a Personal financial plan?
A financial plan safeguards you against life's surprises. A Personal financial plan reduce doubt or uncertainty about your decisions and make adjustments to help overcome obstacles that could derail you.
A financial plan paints a complete photo of your modern-day price range, your economic goals and any strategies you've got set to attain those dreams. true economic planning should encompass details about your coins float, savings, debt, investments, coverage and any other elements of your monetary life.
A financial plan instance of possible dreams may include the following: pay off your credit score card debts. Create a price range that you may stay with. store an emergency fund of 3 to 6 months' well worth of your earnings.
Financial making plans includes searching at a purchaser's complete economic image and advising them on a way to achieve their short- and long-term financial desires.
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1. free corporation is a full-service internet provider. it has 295 employees located in six states. you are the hr director and are evaluating the following alternative policies and will compose a policy which is legally and practically better than any of the following alternatives.
Today, the term "policy making" more accurately refers to the process of creating organisational policies. Some policies are fundamental components of the organization's strategy and apply at the highest levels.
In the given question,
Free corporation should follow policy one as by following policy one it will assign additional point to any applicant who is member of under represented group or having disability.
As by this process, Free corporation won't require to change their hiring standards, other parameters like technical knowledge, personality type, experience and many more.
So by giving extra point they are just giving extra advantage to this people over normal people and by this slowly and steadily without hampering the performance of the company and culture of the company they can imbibe this people.
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a third-party intermediary can facilitate a like-kind exchange. the taxpayer transfers the like-kind property to the who then sells the property and purchases like-kind property to transfer to the .
A third-party intermediary can facilitate a like-kind exchange. the taxpayer transfers the like-kind property to the who then sells the property and purchases like-kind property to transfer to the .its true.
The fundamental idea of a "like-kind exchange" is one that you are already familiar with if you ever exchanged baseball cards with a friend when you were a child. Perhaps you had a sneaking sense that José Canseco's career wouldn't turn out well but your friend really adored him and wanted your Canseco rookie card. You evaluated the value of your card, and chose which cards of his you wanted in return, then made a trade. It's likely that the IRS didn't receive a share of the profits. Real estate investors can accomplish a similar task by delaying capital gains or losses when they acquire or sell a property by using a like-kind exchange.
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q3: (figure: rent controls in the market for apartments in new york city) use figure: rent controls in the market for apartments in new york city. suppose that rent controls are imposed. if the government wants a rent control ceiling to be effective immediately, what is one possible price it could set?
Let's say that there are rent restrictions. Is one potential price it may set if it wants a rent control ceiling to take effect right away. Rent 1
What is a quillet for rent control?The government imposes a price cap known as rent control on the renting of residential real estate. a price cap. A price ceiling is a restriction placed by the government on how low a price can be set and maintained for a good.
What effects of rent control are there? quizletRent regulations compel landlords to set apartment rents below the point of equilibrium. Since there is a greater demand for flats than there are apartments available at the set price, there is an immediate scarcity (excess demand) of apartments.
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to determine whether an investment has a positive npv, you can compare the expected return on that new investment to what the financial market offers on an investment with .
To evaluate the profitability of a proposed investment or project, NPV is used in capital budgeting and investment planning.
The difference between the current value of cash inflows and withdrawals over a period of time is known as net present value (NPV).
To evaluate the profitability of a proposed investment or project, NPV is used in capital budgeting and investment planning. Using the appropriate discount rate, computations are performed to determine the current value of a stream of future payments, or NPV. Projects that have a positive NPV are generally worthwhile pursuing, whereas those that have a negative NPV are not.
The current value of a stream of payments from a business, project, or investment is determined using net present value (NPV). You must forecast the timing and volume of future cash flows, as well as choose a target.
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production facilities, office equipment, and heavy machinery are assets that are expected to last many years and are called long-term or blank assets.
Fixed is the answer. Production facilities, office furnishings, and large machinery are examples of long-term or fixed assets that are anticipated to last for many years.
What are long-term or blank assets?Long-term assets are investments in a corporation that will pay off eventually. Long-term assets might include tangible items that can't be touched, such long-term expenditures or a company's trademark, as well as intangible items like a company's property, plant, and equipment.
Long-term assets are things that a corporation uses to generate money over extended periods of time, such as over a year. Short-term assets are used for a period that is not quite a year and generate income or pay inside that year. Read more about the distinction among assets and liabilities.
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Explain the concept of lead and lag indicators. Why would the development of such a diagram aid organizations in developing a performance measurement system? Link your response to the discussion on quality strategy from Week 2 and the SWEATT model from Week 4.
Lagging indicators measure current production and performance, whereas leading indicators advise business leaders on how they can achieve desired results.
In project management, what are leading and lagging indicators?
The terms "lagging" and "leading" indicators are frequently used in project management. Typically "output" focused, lagging indicators are simple to track but challenging to enhance or influence. On the other hand, leading indicators seem to be typically "input" focused, harder to measure but easier to influence.
An economic data point or set that may predict future economic movement or change is known as a leading indicator. Economic leading indicators can be used to anticipate and forecast upcoming market and business trends and events.
Therefore, A lagging indicator is simple to measure but challenging to change, in contrast to a leading indicator that is dynamic but challenging to measure.
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FILL IN THE BLANK vanessa receives her evaluation. her supervisor gives her high marks in________, noting that vanessa is especially strong in self-awareness and self-management.
Vanessa gets her assessment. Vanessa receives great grades for personal competence from her supervisor, who notes that she excels in self-awareness and self-management in particular.
What are examples of self-management?
Example: "I plan and organize my daily tasks using a to-do list. Setting precise deadlines and prioritizing chores that are more crucial is made possible by the list. Making this to-do list helped me stay organized in my previous employment, and it ensured that I always had time to fact-check my work.
What makes self-management crucial?
Self-management abilities keep employees focused and independent, lowering conflict at work and the need for micromanagement. The development of employees' self-management abilities can be crucial for the success of businesses, especially with the rise of the modern hybrid workplace.
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to be included in the labor force of an economy, someone needs to be or actively searching for a(n) .
To be included in the labor force of an economy, someone needs to be or actively searching for an employment.
What is an economy?An economy can be defined as a function of how the various means of production, money, and scarce resources are carefully allocated and used to facilitate the demand and supply of goods and services in a country, in order to efficiently and effectively meet the unending needs or requirements of consumers.
What is employment rate?Employment rate can be defined as a measure of the percentage of the total labor force in an economy or country, who are gainfully employed by employers of labor.
According to economists, an individual must be actively searching for an employment before he or she can be included in the labor force of an economy in any country.
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The _____________________ is the central bank of the United States and sets interest rates, which can have an effect on how much interest is earned from 401k's and other investments.
The Federal Reserve Bank, the country's central bank, determines interest rates, which can affect the amount of interest that can be generated on 401(k)s and other investments.
Is investing in Bitcoin a wise idea?
The most valuable cryptocurrency by market capitalization, bitcoin, is a risky investment with extreme volatility. It should only be taken into consideration if you have a high tolerance for risk, are in good financial standing, and are able to afford to lose any money you invest in it.
What investment yields the greatest profit?
Major Takeaways. The American stock market is thought to provide the best long-term investment returns. But larger returns also mean greater risk. Bond prices often see less volatility than stock prices.
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TRUE/FALSE. trademarks must be distinctive and cannot be classified as arbitrary or fanciful, with no inherent relationship to the company's product or service.
The state that trademarks must be recognizably different and cannot be considered arbitrary or fantastical, with no underlying connection to the company's good or service is false.
Define trademark.A trademark could be any term, phrase, symbol, design, or combination of these that sets your goods or services apart from others'. Customers utilize it to distinguish you from your competitors in the market and recognize you. Under the general heading of "trademark," both trademarks and service marks are referred to.
A trademark is only a label used to distinguish a product or brand in the market and to promote the business. A few examples of the many different ways trademarks can be used include words, logos, and slogans. Nearly everything in the world has them.
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group decision-making can be improved and the problems of process loss avoided if groups make sure to do all of the following except
The problems of process loss can be avoided and the effectiveness of group decision-making can be improved if the group makes sure to do all of the following, except focus on seeking consensus between group members. Hence, the correct option is (B).
What is a Group Decision-Making?Group decision-making is a situation that is commonly found in companies where each member of the group gives their opinion about the right solution to a problem. This group decision-making is very useful in solving problems with the most optimal solution in a company because each member will have their own skills and knowledge which makes each solution have its own advantages. After all, solutions are given, the superior will choose the alternative with the lowest level of risk.
The question is incomplete, but most probably your question was:
The problems of process loss can be avoided and the effectiveness of group decision-making can be improved if the group makes sure to do all of the following, except
A. A person works harder than others
B. Focus on seeking consensus between group member
C. Every member expresses their opinion
Hence, the correct option is (B).
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euerstein Company uses the weighted average method in its process costing system. The following data for the Mixing Department were taken from the company's accounting records. Beginning work in process inventory (100% complete as to materials; 80% complete as to conversion) 60,000 units Started in process during the period 180,000 units Ending work in process inventory (100% complete as to materials; 60% complete as to conversion) 40,000 units The equivalent units of production for conversion costs were:
The equivalent units of production for conversion costs are 16,000 units. Equivalent units are typically calculated for two types of costs: direct materials costs and conversion costs (which include labor and overhead).
To calculate the equivalent units of production for conversion costs, you need to determine how many units are completed during the period and how much of the ending work in process inventory is considered equivalent to a completed unit. Equivalent units are a measure of the work done on units in a production process during a specific period. They are used in process costing, which is a method of assigning costs to units of production based on the amount of work done on those units during a specific period.
First, find the number of units completed during the period by subtracting the beginning work in process inventory from the units started and added during the period:
180,000 units - 60,000 units = 120,000 units.
Next, determine the percentage of the ending work in process inventory that is considered equivalent to a completed unit by subtracting the percentage that is complete as to materials from 100%. In this case, the percentage of the ending work in process inventory that is equivalent to a completed unit is 100% - 60% = 40%.
Then, multiply the number of units in the ending work in process inventory by the percentage that is considered equivalent to a completed unit to find the equivalent units of production for conversion costs: 40,000 units * 40% = 16,000 equivalent units.
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Which of the following is not a major barrier to entry into an industry?
a. Unfair competition
b. Diminishing marginal returns
c. Patents
d. Economies of scale
Diminishing marginal returns is not a major barrier to entry into an industry.
An economic theory known as the rule of declining marginal returns states that once an optimal level of capacity is reached, adding more factors of production will really only lead to smaller improvements in output.The rate of return for a marginal increase in investment is known as the mergical return; essentially speaking, this is the extra output that results from using a variable input one unit more while using other inputs at the same level.When production levels decrease as a result of raising one unit of production while holding all other variables constant, this is known as diminishing marginal returns. In other words, efficiency in production starts to decline.
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on December 31, 20--, the following selected accounts and amounts appeared on the balancesheet for Duncan Company. Determine the amount of the working capital and the current ratio.Building $180,000Prepaid Insurance $1,800Merchandise Inventory $85,000Store Equipment $11,000Unearned fees $1,200Notes Payable (due in six months) $6,000Accumulated Depreciation, Building $62,000Accounts payable $25,000Land $50,000Cash $50,000Store Supplies $1,400Accumulated Depreciation, Store Equipment $8,000Notes Receivable (due in four months ) $1,500Mortgage Payanle (current portion) $4,400Salaries Payable $1,600M. Duncan, Capital $161,500Mortgage Payable (due in four years ) 86,000Working capital ______$Current ratio ______$
According to the following situation, the working capital of Duncan company is $ 101,500 and the current ratio of Duncan company is $ 3.66.
What is working capital?Working capital, often known as net working capital, is the distinction between current assets and current liabilities for a business.
A company's working capital is a gauge of its liquidity and immediate financial stability.
A corporation that has sufficient working capital is able to finance both its ongoing operations and its expansion plans.
Here,
Total of Current assets = Prepaid Insurance + Merchandise Inventory + Cash + Store Supplies + Notes Receivable
Total of Current assets = $1,800 + $85,000 + $50,000 + $1,400 + $1,500
Total of Current assets = $ 139, 700
Total of current liabilities = Unearned fees + Notes Payable + Mortgage Payable + Accounts payable + Salaries Payable
Total of current liabilities = $1,200 + $6,000 + $4,400 + $25,000 + $1,600
Total of current liabilities = $ 38,200
Working capital = Current assets - current liabilities
Working capital = $ 139,700 - $ 38,200
Working capital = $ 101,500.
Current ratio = Current assets / Current liabilities
Current ratio = $ 139,700 / $ 38,200
Current ratio = $ 3.66
Therefore, the the working capital of Duncan company is $ 101,500 and the current ratio of Duncan company is $ 3.66.
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a tort is a civil injury designed to provide a remedy (damages) for injury to a protected interest. there are three general categories of torts: negligence, strict liability, and intentional torts
A tort is a civil injury designed to provide compensation for injury to a legally protected, tangible or intangible, interest.
what is tangible?A tangible asset is anything that can be physically touched, moved, seen, weighed, measured, or lifted.Cars, printed books, clothes, tools, flowers, furniture, or DVDs are just a few of the many examples of tangible goods.An object is tangible if it can be touched and has an actual physical presence. Some definitions of tangible items may include a description that the property can be seen, but this description can also be used to describe items that cannot be touched (e.g. You can see your digital currency balance on the monitor).Tangible assets are typically physical objects (such as equipment or inventory), while intangible assets are intangible and valuable assets (such as brands). Tangible and intangible assets have value and can be bought and sold. It is easier to judge the value of tangible assets than intangible assets.to learn more about tangible from the given link :
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Marvin Inc. sells products to customers for $250 that originally cost $150. The total impact on the expanded accounting equation of this transactions is:Increase in current liabilities for $100. Increase in current assets for $100. Increase in retained earnings for $250 Decrease in retained earnings for $150.
Increase in retained Earnings for $250 Suppose Marvin Inc. charges $250 for goods that it originally sold for $150. how these transactions as a whole will affect the extended accounting equation.
Marvin Inc. sells goods to customers for $250 that initially cost $150 in the scenario above.
In general, as a company generates revenue, current assets (such as cash and accounts receivable) rise together with the retained earnings portion of stockholders' equity.
Due to this rise in assets, the stockholders' equity portion of the balance sheet will also rise, which will result in an increase in retained earnings.
As a result, the impact of revenue on the balance sheet is a rise in an asset account and a corresponding rise in an equity account.
The preceding query,
Given that the $250 in product sales will result in a $250 rise in revenue and current assets.
Accordingly, given the answers above: Increase in retained Earnings for $250
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from a macroeconomic point of view, which of the following is a source of demand for financial capital?
From a macroeconomic point of view, the source of demand for financial capital is government borrowing.
The government sector borrows when it requests loans from the financial system to pay for expenditures that are not covered by taxes. This is one of two demands for household saving that are redirected into the financial markets in terms of the circular flow; the other being investment borrowing. Governments typically borrow money by issuing bills and securities. Sometimes less creditworthy nations borrow money directly from supranational organizations.
The financial obligations of the government sector are known as a nation's gross government debt, often known as public debt or sovereign debt. Government borrowing over time is mostly due to prior shortfalls in the budget. When a government's expenses exceed its receipts, a deficit results.
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In creating a marketing information system, management would collect data from internal sources such as:
a) Its suppliers.
b) Its customers.
c) Competitors' marketing activities.
d) Its sales figures.
e) Economic conditions.
D) Its sales figures.
Hence option d) is correct and as it represents an internal source of information.
What does a marketing management market information system entail?
A management information system (MIS) that supports marketing decision-making is known as a marketing information system (MIS). According to Jobber (2007), it is a "system in which marketing data is systematically collected, kept, evaluated, and routinely supplied to managers in accordance with their informational demands. Internal data, competition intelligence, and marketing research are the three main types of marketing information that marketers utilise to get insights that will help them make informed marketing decisions. Internal corporate data can be transformed into useful insights by marketing information systems.
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turquoise associates bought a machine at the beginning of the year at a cost of $25,000. the estimated useful life was five years and the residual value was $3,000. required: complete a depreciation schedule for the straight-line method. prepare the journal entry to record year 2 depreciation.
In order to forecast a company's fixed asset value (balance sheet), depreciation expense (income statement), and capital expenditures, a depreciation schedule is necessary (cash flow statement).
An economic asset depreciates when it is used up. Different types of property, plant and equipment are economic assets (PP&E). The assets start to deteriorate and lose value as soon as they are used. Different assets depreciate at various rates. Calculating the differences is made easier with a depreciation schedule.
The schedule will include a list of the various asset classes, the depreciation methods they employ, and the total depreciation they have accumulated over time. Historic and anticipated capital expenditures could also be included in the depreciation schedule (CapEx).
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Louvers, Inc., accepted a $15.000, 180-day, 10 percent note from a customer on May 31. Louvers plans to prepare financial statements as of June 30, the end of its fiscal year. Prepare the necessary June 30 adjusting entry for Lovers by selecting the account names from the drop-down menus and entering the dollar amounts in the debitor credit columns View transaction list Journal entry worksheet < Louvers, Inc., accepted a $15,000, 180-day, 10 percent note from a customer on May 31. Louvers plans to prepare financial statements as of June 30, the end of its fiscal year.
Interest revenue =[tex]739.72[/tex]
May 31.
Interest revenue =Interest amount× Rate ×Time
= $15000*10%*180/365=[tex]739.72[/tex]
Interest revenue is the income that a business receives from any investments it makes or from money it lends. It is a business's non-operating revenue. The Revenue Commissioners, also known as Revenue, is the Irish Government agency in charge of customs, excise, taxation, and related affairs. It can be recorded using cash or the accrual system. The Revenue Commissioners Order, 1923, which established the Revenue Commissioners to carry out the functions that the Commissioners of Inland Revenue and the Commissioners of Customs and Excise had carried out in the Free State prior to independence, was passed on February 21, 1923. Although Revenue can trace its history back to predecessors, the current organization was established for the independent Irish Free State.
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one person's use of common resources does not reduce the enjoyment other people receive from the resource. One possible solution to the problem of protecting a common resource is to ___
a) Common resources are rival goods because when one person uses a common resource, it reduces the enjoyment of others. A modern example is an environmental degradation. Hence the answer is False
Common resources are products, mostly food items, that are rival in nature while being consumed by consumers but are not excusable at the same time. These are commonly referred to as owned resources or inputs.
However, we can only use these resources efficiently if the marginal social cost equals the marginal social benefit. When people are not charged for using common resources, they tend to use them excessively. This is analogous to a negative externality.
b) One possible solution to the problem of protecting a common resource is to transform that resource into a private good.
Converting that common resource to private good will restricts free access to everyone, thereby preventing the overuse of that resource. Regulating consumption and use, or legally excluding certain individuals, can help reduce overconsumption, and government investment in resource conservation and renewal can help prevent depletion.
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The complete question is:
a) One person's use of common resources does not reduce the enjoyment other people receive from the resource. True or False?
b) One possible solution to the problem of protecting a common resource is to _______.
which of the following would result in a negative change in demand for bus tickets? (choose all that apply)an increase in the number of consumers.
The following would result in a negative change in demand for bus tickets: an increase in the cost of tractors used in corn fields, an expectation among producers that corn won't be very profitable in the near future, and a decrease in the number of corn sellers.
Demand is the amount of a good that buyers are ready and willing to buy at different prices at a particular time. The demand curve is another name for the relationship between price and quantity demand. The price of goods and the quantities produced and consumed are determined by supply and demand.
By making several purchases of a certain commodity or service, customers run the risk of depleting the available supply of that good. The result is a rise in demand. The supply that is readily available declines as demand rises. Several variables affect whether a good's demand rises or falls.
This includes the cost of the product, the perceived quality, the amount spent on advertising, the income and confidence of the consumer, as well as shifts in consumer preferences and fashion.
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