$55,233 is the amount should Johnstone value the equipment.
$94,698 is the required annual deposit if the first deposit is made on December 31, 2021.
$1,171,209 is the amount should Johnstone record the lease liability on January 1, 2021, before any lease payments are made.
Table values are based on
n= 5
i= 12%
Cash Flow Amount PV Factor Present Value
Installments $7,000.00 3.60478 $25,233
Down Payment $30,000.00 1 $30,000
Value of Equipment $55,233
Solution 2:
PV Factor based on
Table or Calculator function FVAD of $1
Future value $600,000
n= 5
i= 8.00%
FV factor 6.33593
Annual Deposit of $94,698
Solution 3:
PV Factor based on
Table or Calculator function PVAD of $1
Payment: $140,000
n= 20
i= 12.00%
PV factor 8.36578
Liability: $1,171,209
Liabilities are the legal debts an agent owes to 0.33-birthday celebration creditors. they could consist of accounts payable, notes payable, and bank debt. All businesses should tackle liabilities in order to operate and grow. Right stability of liabilities and fairness gives a stable foundation for a corporation.
Liabilities are any money owed to your agency, whether it is bank loans, mortgages, unpaid payments, IOUs, or every other amount of money that you owe someone else. if you've promised to pay someone an amount of cash within the destiny and haven't paid them, that is a legal responsibility.
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Nalgene is introducing a new line of sustainably produced water bottles. The company issued a press release describing the new product line and its benefits. The press release was sent to local television stations. This is an example of using _____________ to promote a product.
Nalgene is introducing a new line of sustainably produced water bottles. The company issued a press release describing the new product line and its benefits. The press release was sent to local television stations. This is an example of using product press release to promote a product.
A press release for a new product launch is a document that the company releases. Its objective is to make the launch a noteworthy occasion and guarantee favorable media coverage. It's crucial to include it in a go-to-market plan.
It's a useful tool you can incorporate into your marketing plan for a reasonable price, especially if you're a startup with a tight budget. Controlling your story with a well-written press release is another benefit. You can express your values and draw attention to the benefits you can provide. Using a press release agency to share your story can help your content marketing efforts.
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microloans are small short-term loans given to people living in poverty that enables them to engage in entrepreneurship. True or False
The statement that microloans are small short - term loans given to people living in poverty to allow them to be entrepreneurial is True.
What are microloans?Microloans are a type of short - term financing where smaller amounts are loaned out to people who would otherwise be unable to get these loans from mainstream financial institutions.
The reason for this is that these people are often living in poverty which means that they will not be able to pay back the loans easily. The microloans help such people to engage in entrepreneurship when other financial institutions won't help.
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on october 1, 2017, dew company placed a new asset into service. the cost of the asset was $80,000 with an estimated eight-year life and an $8,000 salvage value. assuming a year-end of december 31, what is the depreciation expense for 2017 if dew company uses the straight-line method of depreciation?
The depreciation for dew company for the year 2017 is $2250
The simplest way to determine depreciation over time is through straight-line depreciation. According to this method, an asset's value is reduced by the same amount for each year that it is in use. The "straight line" is literally a straight line from the asset's initial cost to the point at which it has reached salvage value if the asset's value were to be plotted over time.
Cost of asset = $80000
Salvage value = $8000
Estimated life = 8 years
Annual depreciation = Cost - Salvage value/Estimated life in years
= 80000 - 8000/8
= 72000/8
= $9000
Depreciation from October 1, 2017 to December 31, 2017 is calculated for 3 months
Therefore,
$9000*3/12
= $2250
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serena is trying to sell a new line of ultrasound imaging equipment. unlike existing technology, these machines are compact, creating the potential for general practice physicians to have and use them in their offices. serena is trying to identify innovators in her market, knowing these customers will most likely buy one for each office in their practices. reposition his products. not need any service or support when using the product. spread positive word-of-mouth to other physicians. create demand among the late majority.
Serena is trying to identify innovators in market, knowing these customers will most likely buy one for each office in their practices.
What is innovation?Innovation is the practical application of concepts that leads to the launch of new products or services or enhancements in the provision of existing products or services. Innovation is described by ISO TC 279 in the standard ISO 56000:2020 as "a new or altered entity realizing or redistributing value." Others have other meanings; a recurring theme in the definitions is a focus on the novelty, development, and dissemination of ideas or technologies. Innovation frequently occurs as a result of the creation of more efficient goods, procedures, services, technology, works of art, or business models that innovators make available to consumers, governments, and society. Innovation and invention are connected, but they are not the same thing. Innovation is more likely to involve the practical application of an invention to have a significant impact on a market or society.
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what causes double taxation? group of answer choices a taxpayer being subject to tax laws in multiple jurisdictions profits increasing excessively from year to year penalties imposed by a taxing authority for non-payment of taxes difference tax rates across countries
A tax principle known as "double taxation" refers to paying income taxes twice on the same source of income. When income is subject to both corporate and individual taxes, it may happen.
When the same income is taxed in two different nations for the same investment or transaction, this is known as double taxation. Double taxation occurs when the shareholders and the corporation both pay taxes on the same income. The corporation pays taxes on its profits. Paid-in capital and retained earnings make up stockholders' equity. Double taxation occurs when the same income is taxed in two different countries. When a foreign company's income from a foreign source is taxed by the government of one country while also being taxed by the government of the company's home country, this occurs.
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several employees developed a plan to improve the efficiency of the production floor, potentially saving the organization significant amounts of money. as a result, the employees will be given a bonus of 25 percent of the economic gain that results from this plan. this type of incentive pay is known as .
Gainsharing is a management strategy that a company uses to boost revenue by inspiring staff to perform better through involvement & participation. The advantage is monetarily shared by the employees as their performance increases.
What is Gain sharing ?Profit sharing should not be mixed up with gainsharing. The distinctions between Gainsharing & profit sharing are numerous. Other names for gainsharing include gainsharing, gainshare, and gain. Another name for it is "savings sharing."
In other words, a corporation splits the savings from greater performance with its employees. Gainsharing encourages staff to collaborate more effectively rather than merely working harder in order to increase performance and reduce waste.
Gainsharing is a strategy for encouraging your staff using monetary incentives. Understanding profit-sharing can help you comprehend gain-sharing because they are extremely similar.
Gainsharing is best defined as a management style in which a company strives to improve performance by involving and involving its employees. Employees benefit financially when performance rises. It is a team effort, and typically all of the workers in a location or activity are involved.
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if a negative demand-side shock and a temporary negative supply-side shock occur simultaneously, what will be the short-run effects on price level and output?
If a negative demand-side shock and a temporary negative supply-side shock occur at the same time, the new level of output will be lower. The new price level is unknown.
Demand-side economics is the belief that high demand for goods and services is the most effective way to generate economic growth and full employment. According to demand-side economics, output is determined by effective demand. High consumer spending leads to corporate expansion, which leads to more job possibilities. Higher levels of employment have a multiplier effect, stimulating aggregate demand and resulting in higher economic growth.
Proponents of demand-side economics say that tax reductions for the wealthy provide little, if any, economic benefit because the majority of the extra money is not spent on goods or services but instead reinvested in an economy with low demand (which makes speculative bubbles likely).
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the combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a . a. total product offer b. product differentiation c. product mix d. product package
The combination of all the factors that consumers evaluate when deciding whether or not to buy a good or service is called a total product offer.
Project marketing managers launch products in the market through a process known as product marketing. Product marketing's primary goal is to increase market demand for the product.
The entire product offer is the combination of all the factors that consumers consider when choosing between items; these factors include the packaging, price, reputation, and so on.
It's sometimes referred to as the value bundle.
Everything consumers consider before making a purchasing decision makes up the overall product offer. It encompasses things like cost, brand name, and user pleasure.
Keeping all other inputs constant, this association between the variable input and output is known as the total product (TP) of the variable input.
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maria needs to buy a tent, sleeping bag, and hiking boots for a two-week camping trip in the mountains. she has never bought camping equipment before and assesses what other equipment she may require during her trip. she also asks her friends, who have gone camping before, what equipment she should buy. once she has purchased all the camping gear, she evaluates whether she made the right purchases. in this situation, maria is engaging in:
The given question problem is case of extented problem solving.
Extended problem solving is making a purchasing decision without the buyer having any information or experience with the product, service and supplier.
Consumers typically opt for comprehensive problem solving when they realise their needs are completely new and require a great deal of effort to satisfy.
The customer decision-making process involves different levels of purchasing decisions.
Comprehensive problem SolvingLimited problem solvingRoutine voting behavior.Elements of Comprehensive Problem Solving :
The various parameters that contribute to extended problem solving are:
1. Expensive products: cars, houses, etc.
2. Rare Purchases: Cars, HD TV Purchases
3. More Customer Involvement : laptop, ROM, Display, etc.
4. Unknown Product Category: Real Estate is a very unknown category
In the given problem is a case Maria decision making about purchase is based on extended problem solving.
Maria hasn't bought any camping equipments . Hence, she is relying on recommendations from her friends in order to choose best camping equipment and quality one.
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wyanot company issued 1,000 shares of its 5%, $100 par value, cumulative preferred stock for $110 cash per share. the journal entry to record this transaction includes: multiple select question. $10,000 credit to additional paid-in capital - preferred. $100,000 debit to cash. $5,000 credit to preferred stock. $100,000 credit to preferred stock. $110,000 debit to cash.
The journal entry is $110,000 debit to cash -$100,000 credit to preferred stock -$10,000 credit to additional paid in capital- Preferred
How do you record shares in accounting?Common stock is initially recorded at par value, and any sums received in excess of that amount are reported in an account called capital in excess of par value.The recording is based on the fair value of the shares forfeited if they were issued in exchange for an item or service as opposed to cash. A memo entry to record the change in the number of shares and the par value per share is all that is required in a journal entry for a stock split (if the stock has a par value). When an employee exercises stock options, the difference—representing the increase in share value during the service period—is deducted from Additional Paid-In Capital and is credited to Common Stock for the number of shares x par value, debited from Cash for the number of shares x exercise price, and finally deducted from Cash for the remaining shares x par value.To learn more about journal entry refer
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when can raw, unpackaged meat be offered for self-service? a at mongolian barbecues or sushi buffets b only when it is of the highest quality c never d when it is frozen
Raw unpackaged meat is offered for self-service at Mongolian barbeques or sushi buffets.
An estimated 76 million foodborne disease cases are detected annually in the US, leading to 325,000 hospital admissions and 5,000 fatalities. In the America Journal of Preventative Medicine, a multi-state study found that the annual cost of illness brought on by food-borne infections ranges from 9.3 to 12.9 billion dollars in "medical costs and productivity losses."
Most of these illnesses are spread by contact with tainted raw meat, but additional "vehicles of transmission" are cropping up more frequently due to international travel. Additionally, but not exclusively, lettuce, sprouts, fruit juices, vegetables, raw milk, and water can all contain disease-causing microorganisms. However, raw meat is typically the main source of sickness brought on by microbial infections.
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cash equivalents: multiple choice include accounts receivable. are recorded in petty cash. include 5-year certificates of deposit. are short-term, highly liquid investment assets. include long-term investments.
Cash equivalents are short-term, highly liquid investment assets.
What are cash equivalents?When an asset is said to be cash equivalent, it means that the asset is very liquid and can easily be converted to be used as cash. As a result, it can also be traded in certain markets in place of cash.
An example of a cash equivalent asset is short term and highly liquid investment assets such as commercial paper, money market instruments, and U.S. Treasury bills which mature in months. Cash equivalents allow a company to invest and still have liquid assets.
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the design team is frustrated because their supervisor, mario, is a control freak who has no interest in hearing the team's opinions. which style of leadership decision-making does mario exhibit?
The design team is displeased with their manager, Mario, because he is a control freak and has no interest in learning what the team thinks. Mario demonstrates an authoritarian style of decision-making.
What is the decision-making approach of an authoritarian leader?An individual who practices authoritarian leadership, often referred to as autocratic leadership, has complete decision-making authority and ultimate control over his subordinates.
When a decision is made in an autocratic manner, the leader retains power and accountability. Without consulting the group, you make and communicate the decision as the collaborative leader. Advantages: Autocrats make decisions quickly.
Authoritarian leaders typically make decisions based on their own opinions and beliefs and hardly ever take advice from their followers. Absolute control over a task or group is a hallmark of authoritarian leadership. Examples of authoritarian leadership include President John F. Kennedy and Bill Gates.
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what is the present worth of a $50,000 bond that has an interest of 20% per year payable quarterly? the bond matures in 5 years. the interest rate in the marketplace is 10% per year, compounded semiannually.
At maturity, a coupon bond pays both the principal and periodic interest payments at a fixed frequency. Discounted at the bond's required rate of return, the present value of the bond payments determines the coupon bond's market price.
In any case, the yield to maturity decreases with the bond's price.
The bond has a present value of $50,000.
The bond earns 2500 per quarter, or 50,000 times 20% divided by four. There will be a total of 20 quarterly coupon payments as a result of the bond's five-year maturity. We must determine the quarterly discount rate in order to determine the bond's present value.
By dividing the sum of the security's annual coupon payments by the bond's par value, the bond's coupon rate can be determined. A bond with a $1,000 face value and a $25 semiannual coupon, for instance, has a coupon rate of 5%.
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in the simple quantity theory of money, the price level is assumed to be constant. group of answer choices true false
'in the simple quantity theory of money, the price level is assumed to be constant.
This statement is true.
In the money economy, the quantity theory of money is one of the directions of Western economic thought that emerged in the 16th and 17th centuries. The century has arrived. QTM states that the general price level of goods and services is directly proportional to the amount of money in circulation, or the money supply.
The Quantity Theory of Money is a framework for understanding price changes associated with the money supply in an economy. He argues that an increase in the money supply causes inflation and vice versa. The Irving Fisher model is most commonly used to apply theory.
In Friedman's modern quantity theory of money, money supply is independent of money demand. Monetary authority actions change the money supply, but money demand remains more or less stable.
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the risk coming from inside the organization compared to the risk coming from outside the organization. if the article notes that this relative risk is changing, how is it changing an to what is the change attributed?
Researchers tracking amino acid changes in a large sequence database of SARS-CoV-2's spike protein discovered a D614G (glycine for aspartic acid) substitution that became the predominant polymorphism globally over time.
In animal and in vitro tests, viruses with the G614 polymorphism replicate better, bind to ACE-2 more tightly, and have higher levels of replication and transmissibility when compared to viruses with the D614 polymorphism [12,13]. [14] There is no evidence that the G614 mutation affects the binding of anti-spike antibodies or increases hospitalization risk [11]. There are now many SARS-CoV-2 lineages in circulation that carry it,
Question:using a web search engine, find an article from a reputable source, published within the past six months, that reports on the risk coming from inside the organization compared to the risk coming from outside the organization. if the article notes that this relative risk is changing, how is it changing and to what is the change attributed?
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janet saves $3,000 a year at an interest rate of 4.2 percent. what will her savings be worth at the end of 35 years?
Future cost is a value of an investment or asset on a specific date in the future.
To put it every other way, the future cost is the quantity of money a given funding will be really worth after a certain period, assuming a unique price of return (interest rate).
How do I calculate future value?You can calculate future fee with compound interest the usage of this formula: future fee = existing fee x (1 + hobby rate)n. To calculate future value with simple interest, use this formula: future fee = present fee x [1 + (interest fee x time)].
How a whole lot will I have if I make investments 100 a month for 30 years?Long-term investor: Let's say that you are investing $100 per month with retirement in mind. You graph to make investments $100 per month for 30 years and anticipate a 6% return. In this case, you would make a contribution $36,000 over your funding timeline.
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https://brainly.com/question/2549802#SPJ4monica consumes two goods, iced tea and spaghetti. the price of iced tea is $2 per bottle. her income is $500 per month. she spends all her income each month. she purchases 50 bottles of iced tea and 100 servings of spaghetti. what is the price of a serving of spaghetti?
The price of a serving of spaghetti is $4
Goods consumed by Monica: Ice tea and spaghetti
Price of ice tea = $2
Income of Monica per month= $500
Purchases made by Monica from her total income:
Number of iced tea purchased = 50 bottles
The total cost of iced tea purchased by Monica= 50*2 = $100
Number of servings of spaghetti purchased = 100 servings
Let x be the cost of spaghetti
The total cost of iced tea + Cost of spaghetti*number of spaghetti servings purchased = Total money
By formulating the equation and solving we get the following:
100 + x*100 = 500
100x = 400
x = $4
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if the interest rate is zero, then $100 to be paid in 10 years has a present value that is a. less than $100. b. exactly $100. c. more than $100. d. indeterminate
The present value that should be received of $100 in 10 years is (B) exactly $100. It is because at an interest rate of 0% is $100 there is no return in the form of interest on the investment.
Interest rate generally can be described as the cost a customer pays to a lender for borrowing funds over a period of time. Usually in economic and business, interest rate is expressed as a percentage rate of the loan amount.
The formula of final amount with an interest rate is:
Final amount = initial principal balance (1 + annual interest rate . time in years)
The calculation:
Final amount = $100 ( 1 + 0 . 10)
Final amount = $100 (1+0)
Final amount = $100
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two people are given the choice to participate in a retirement program in which the firm matches contributions. person a is given a form in which she must check a box to opt into the retirement program. person b is given a form in which she must check a box to opt out of the retirement program. according to studies, which person is more likely to participate? or are they equally likely to participate?
People are more likely to select the default option, according to studies, so Person B is more likely to participate.
What does the term "default choice" mean?
The option that a customer "selects" if they do nothing is known as the default choice or default option. Consumers rarely alter the default settings, according to studies. Therefore, the nature of the default choice has a significant impact on consumer behavior.
Which bias is the default?
People's preference to stick with previously made decisions and their tendency to choose inaction over action are both examples of this tendency to stay in the default choice, which is known as default bias (or status quo bias).
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the manager of an online news service received the report above on the number of subscriptions sold by the service. the manager estimated that the percent increase from 201220122012 to 201320132013 would be double the percent increase from 201320132013 to 201420142014. how many subscriptions did the manager expect would be sold in 201420142014?
The manager estimated that the percent increase from 2012 to 2013 would be double the percent increase from 2013 to 2014. 6,468 subscriptions did the manager expect would be sold in 2014
given table :
2012 : 5,600
2013 : 5,880
The manager predicted that the percentage increase from 2012 to 2013 would be half that of 2013 to 2014.
It indicates that he predicted that in a year, the sold percent would double.
the amount of difference in 2012 to 2013 = 5880 - 5600 = 280
percentage increase from 2012 to 2013 = (280/5600)*100
= 0.05 × 100
= 5%
This represents a 50% increase from 2013 to 2014 in percentage terms. As a result, in 2014 there would be a 10% increase.
The increase in 2014 = 5880 + (10% of 5880)
= 5880 + (10/100*5880)
= 5880 + (0.10 × 5880)
= 5880 + 588
= 6,468
In 2014 subscriptions would be sold is 6,468.
the complete question is:
The manager of an online news service received the report given in the table on the number of subscriptions sold by the service. The manager estimated that the percent increase from 2012 to 2013 would be half the percent increase from 2013 to 2014. How many subscriptions did the manager expect would be sold in 2014?
table:
2012: 5,600
2013: 5,880
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raymond co. has $1.4 million of debt, $2.5 million of preferred stock, and $1.2 million of common equity. what would be its weight on debt? 0.27 0.54 0.24 0.44
The weigh of the raymond.co debt is 0.5
Weigh of debt
Weigh of the debt is calculated by dividing the market value of the company's debt by sum of the market values of equity and debt.
Given,
Raymond co. has $1.4 million of debt, $2.5 million of preferred stock, and $1.2 million of common equity.
Here we need to find the weight on debt.
According to the given question, we have identified the following details,
Debt = $1.4 million
Preferred stock = $2.5 million
Common equity = $1.2 million
In order to find the weigh of debt, we have to find the total assets, by adding all the values, then we get,
=> 1.4 + 2.5 + 1.2
=> 5
Now, the weigh of debt is calculated as,
=> preferred stock/ total
=> 2.5/5
=> 0.5.
Therefore, the weigh of the debt is 0.5.
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a shift of the demand curve for thin-crust pizza would be caused by a change in: question 3 options: a) buyers' incomes. be) the price of thick-crust pizza. c) all answers are correct. d) the popularity of thin-crust pizza.
A shift of the demand curve for thin-crust pizza would be caused by a change in the popularity of thin-crust pizza. A demand curve shift refers to fundamental shifts in the supply-demand balance that affect the quantity sought at the same price.
For example, you might be willing to pay $1 price for ten apples. If the grocery store lowers the price to $0.75, the demand curve shift means you might buy 15 apples rather than 10. Changes in tastes, population, income, prices of substitute or complement items, and expectations about future circumstances and prices are all factors that can affect the demand curve for goods and services.
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if the functional currency is the local currency of a foreign subsidiary, what exchange rates should be used to translate the items below, assuming the foreign subsidiary is in a country which has not experienced hyperinflation over three years?
Your question is incomplete, but in general the exchange rates used in financial translations are the current rate for assets and liabilities, the historical rate for equities, and the average rate for the income statement.
What items are included in the assets, liabilities, equities, and income statement?
Example items in assets is cash, accounts receivable, buildings, equipment, inventories, etc.
Example items in liabilities is bank debt, mortgage debt, accounts payable, wages payable, etc.
Example items in equities is common stock, preferred stock, treasury stock, retained earnings, etc.
Example items in income statement is revenue, sales, operating expenses, depreciation expenses, etc.
Thus, if the items asked in your question are equipment, inventories, and depreciation expenses then the exchange rate used is the current rate for equipment and inventories and the average rate for depreciation.
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depreciation on the equipment for the month of january is calculated using the straight-line method. at the time the equipment was purchased, the company estimated a service life of three years and a residual value of $10,400. prepare the adjusting entry for depreciation.
Depreciation on the equipment for the month of january is calculated using the straight-line method is 11160.
Equipment depreciation is calculated as [cost-residual value]/[useful life].
[16000-3400]/2
= 6300
Depreciation for a month is equal to 6300*1/12, or 525.
Amounts Due at End = 46400 Beginning + 136000 - 125500-4900 + 134000 = 18600
Estimated uncollectible balance at the end = [(186000-12000)*30%] + [(12000*30%] .04]
= 3600+ 6960
= 10560
Unadjusted balance in the allowance account = 4300 – 4900 = – 600 debit
Unadjusted balance in the allowance account + anticipated uncollectible account at end = bad debt expense
= 10560 - (-600) (-600)
= 10560+600
= 11160
Depreciation is the gradual lowering of a fixed asset's recorded cost over time, until the asset's value is zero or insignificant, according to accounting terminology.
Buildings, furniture, office supplies, machinery, etc. are examples of fixed assets. The one exception, as land value increases over time, is that it cannot be depreciated.
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production part approval process (ppap) is group of answer choices a milestone of the apqp process a snapshot in time statement of conformance statement of acceptance all of the above
Production part approval process (ppap) milestone of the apqp process a snapshot in time statement. The Production Part Approval Process (PPAP) is a standardized process in the automotive and aerospace sectors that assists manufacturers.
Suppliers in communicating and approving production designs and processes prior to, during, and after manufacturing. PPAP is a byproduct of APQP. The goal of any Production Part Approval Process (PPAP) is to ensure that a supplier can meet the customer's manufacturability and quality statement. PPAPs are the responsibility of suppliers, not customers. This means that a supplier must maintain a quality system that documents all of the requirements of a PPAP submission.
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which organizational culture is best suited for an individual who is high in conscientiousness? market clan hierarchy adhocracy
Hierarchy is the organizational culture which is best suited for an individual who is high in conscientiousness.
What is Hierarchical Organizational Structure?
A direct chain of command running from the top of the organization to the bottom is present in a hierarchical organizational structure. All important decisions are made by senior management, which is subsequently communicated to lower levels of management. If a person at the bottom of the organizational pyramid needs to make a decision, they must first convey their request up the chain of command for permission before receiving a response with their choice. When there are few products that are sold in large quantities, a hierarchical structure works effectively so that strict control over the design, quality, production, and distribution of goods can be maintained.
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you want to increase the relevance of a search ad so it's more meaningful to potential customers and provides value-added information to their searches. what two actions might improve the relevance of your ad? (choose two.) select 2 correct responses selecting only relevant languages in campaign setup. posting transparency statements on the website. selecting distinct geographic areas. changing the ad's call-to-action statement. rewriting the landing page for clarity.
By selecting only relevant languages during campaign setup as well as specific geographic places, search ads become more relevant to potential customers and provide them with information that is useful to their searches.
Digital advertisers still struggle to generate impressions and earn clicks on Ads in order to get visibility and bring in new business.And although advertisers may literally be able to pay their way to the top, there are alternative techniques to generate clicks without blowing the entire budget.
Ad visibility and advertising ROI can both be improved by increasing keyword and ad relevance.Later, we'll discuss how to make adverts more pertinent, but first, let's define the term.
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during the month, evergreen roofing settled $600 in warranty claims by replacing the defective flashing. evergreen uses an estimated warranty account. the journal entry to record the settled claims would have been:
The journal entry to record the settled claims would have been debit Accrued Warranty Payable $600; credit Inventory $600.
Warranty payable denotes a business' obligation to fix or replace faulty goods. It occurs when a business offers goods that consumers have the right to return for exchange or repair. Accounting for warranties and bad and doubtful debts is very similar.
The relevant product sales should be documented in the same reporting period as the accrual. This ensures that all expenditures related to product sales are appropriately reflected in the financial accounts, which in turn reveals the true profitability of those sales.
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in terms of labor supply, the income effect of a higher wage causes a(n): group of answer choices decrease in the quantity of labor supplied. increase in the quantity of labor supplied. reduction of leisure time to zero. decrease in leisure time.
in terms of labor supply, the income effect of a higher wage causes decreases in leisure time.
What is leisure time?Labor productivity is based on activity in the workplace and does not include vacation time in the calculation. In contrast, psychologists and sociologists argue that leisure plays an active role in the production process. The economist's definition of leisure is, at least implicitly, "non-working time." Usually, this concept has been of little interest in determining whether forms on the borderline of time are 'work' or 'leisure'.Using empirical data from 21 OECD countries, the study found that leisure time has a double impact on labor productivity in terms of per capita GDP per hour. Moreover, leisure time is non-linearly related to labor productivity (inverted U shape). When the free time reaches the optimal level (5,813 hours), free time has a compensatory effect on work and can have a positive impact on labor productivity, but when free time exceeds the optimal value, free time is It can have a substitution effect on jobs and negatively impact labor productivity.To know more about leisure time refer to:
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