Answer:
Date Account Titles and Explanation Debit Credit
March 11 Bad debt Expenses $45,000
Account Receivables $45,000
(To record uncollectible accounts receivables)
Date Account Titles and Explanation Debit Credit
March 29 Account Receivables $45,000
Bad debt Expenses $45,000
(To record reversal of written off accounts receivables)
Date Account Titles and Explanation Debit Credit
March 29 Cash $45,000
Accounts Receivables $45,000
(To record receipt of cash from customers)
Many economists believe that the market for wheat in the United States is an almost perfectly competitive market. If one firm discovers a technology that makes its wheat taste better and have fewer calories than all other wheat offered in the market, the wheat market would become less competitive:
Answer: c. the products would no longer be similar in the wheat market.
Explanation;
In a perfectly competitive market, goods are meant to be homogeneous which leads to stiffer competition as a consumer could just switch from one seller to another and still get the same utility as all products are similar.
If one product starts to taste better and have fewer calories, the products in the market will no longer be homogeneous and competition will decrease because switching to this newer wheat would increase a consumer's utility as opposed to not therefore more people will switch and other competitors will not be able to compete unless they start producing better wheat as well.
Tara earns $8.50 an hour (after taxes) at the pizza place. She is scheduled to work four hours this afternoon. However, her friend Kayla called and asked her if she wants to go to the movie. A ticket to the movie costs $9.50. In addition, she always spends about $7 on snacks.
Which of the following statement are true? Select all that apply.
1. Tara's opportunity cost if she goes to work instead of the movie is $34.
2. Kayla's opportunity cost to go to the movie is $9.50.
3. There is no opportunity cost for Tara to go to the movie.
4. Tara's total cost of attending the movie is $50.5
5. Tara's opportunity cost if she goes to the movie instead of working is $34
The true statements about the given question are:
Option 2.option 4.Option 5.Opportunity cost is the loss of possible gain from other choices of options of a decision when an option choice is made, in other words, it the something an individual gives up for a particular choice of item or decision.
In this case,
Kayla gives her time and cash that is $9.50 both of which can be used for something more important than the movie, therefore, the opportunity cost is $9.50.If Tara also went for a movie leaving the opportunity of earning $8.50 per hour for four hours that is 8.50×4 = $34, thus, her opportunity cost is $34 and the total cost would be $50.50Thus, the correct answer is options 2, 4 and 5.
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From the options given, the true statements include:
Second option
Fourth option
Fifth option
Opportunity cost refers to the cost of an alternative that we forgo. With regards to the question, the second option is correct. If Kayla goes to the movie, then she'll have to forgo $9.50. Therefore, her opportunity cost of going to the movie is $9.50.Furthermore, Tara's total cost when she attends the movie will be:= ($8.50 × 4) + $9.50 + $7 = $50.5.
Therefore, the total cost of Tara attending the movie will be $50.5.
Finally, Tara's opportunity cost when she goes to the movie will be:= $8.50 × 4
= $34
Therefore, her opportunity cost when she goes to the movie rather than working will be the amount that she could have earned while working which is $34In conclusion, the correct options are options 2, 4 and 5.
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Banc Corp. Trust estimates that it costs $500 to analyze and close a commercial loan. This amount has been included in the $396,000 of overhead costs. How much of the remaining overhead costs should be allocated to the Consumer Department?
Complete question :
Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $396,000 of indirect costs. The bankwide rate couldbe based on either direct labor hours (DLH) or the number of loans processed. The departmental rates would be based on direct labor hours for ConsumerLoans and a dual rate based on direct labor hours and the number of loans processed for Commercial Loans. The following information was gathered for the upcoming period.
Dept - - - - - - - DLH - - loan processed - - - d/cost
Consumer - 14000 - - - 700 - - - - - - - - 280,000
Commercial - 8000 - - 300 - - - - - - - 180,000
Banc Corp. Trust estimates that it costs $500 to analyze and close a commercial loan. This amount has been included in the $396,000 of overhead costs. How much of the remaining overhead costs should be allocated to the Consumer Department?
Answer:
$172,200
Explanation:
Number of commercial loans processed = 300
Cost of processing a commercial loan = $500
Overhead cost = $396,000
Total cost = 300 * $500 = $150,000
Overhead left = $(396,000 - 150,000) = $246,000
Overhead sharing between commercial and consumer department :
Total loans = (300 + 700) = 1000
Number of consumer department loan = 700
Consumer department overhead :
(246,000 / 1000) * 700
246 * 700 = $172,200
Maya owes $20,000 on her credit cards, her adjustable mortgage rate has just gone up, and she has been out of work for 3 months. Her husband of 15 years came home today to tell her he was having an affair and wants a divorce. With that news, she collapsed and had to be taken to the emergency room. According to Hans Selye, Maya is in which stage of the general adaptation syndrome
Answer: exhaustion
Explanation:
Given the information provided in the question, we are told that Maya collapsed and had to be taken to the emergency room. According to Hans Selye, Maya is in the exhaustion phase of the general adaptation syndrome.
At this stage, Maya's energy resources has been depleted after failing to recover from shock.
Claire Nevsky is in charge of advertising for her company and has produced a 30-second television spot to promote one of the company's new products. One of her assistants just out of college believes that the commercial has too much visual and audio information packed into such a small amount of time. The assistant is specifically concerned about limits in the receiver's
Answer:
Channel capacity
Explanation:
The channel capacity is the rate in which the data and information could be converted through a channel of communication
Here, in the given question as it is mentioned that the commercial includes more visual and audio information that to be converted into a less amount of time so this determines the channel capacity for the limits
You're reviewing the campaigns report in your Google Ads account to find out how effective your current ad campaign is. You're particularly interested in finding out how many people clicked each ad, even if the click didn't result in a sale. In which two columns of the campaign report will you see these metrics? (Choose two.)
Complete Question:
You’re reviewing the campaigns report in your Google Ads account to find out how effective your current ad campaign is. You’re particularly interested in finding out how many people clicked each ad, even if the click didn’t result in a sale. In which two columns of the campaign report will you see these metrics? (Choose two.)
Group of answer choices.
A. Conversion value/click
B. View-through conversions
C. All conversions
D. Assisted conversions
Answer:
B. View-through conversions
C. All conversions
Explanation:
In this scenario, you're reviewing the campaigns report in your Google Ads account so as to find out how effective your current ad campaign is. Since you're particularly interested in finding out how many people clicked each ad, even if the click didn't result in a sale.
Hence, the two columns of the campaign report where you will see these metrics are View-through conversions and All conversions.
Generally, in Google's Ads account the conversion column such as the "Conversion value/click" and "Assisted conversions" do not display the view-through conversion.
In order to find out how many people clicked each ad, you should navigate to the "View-through conversion" column and "All conversions" column of the campaign report in your Google Ads account.
The conversion column refers to the column which displays data about the number of conversions a user has received with respect to their conversion actions.
Additionally, view-through conversion displays information when a customer sees or views an ad (image or rich media) without clicking on it and later completes a conversion. Also, the all conversion provides a user with all the data or information about all the conversion actions.
You are an engineer and a manager at an aerospace company with an important government contract supplying parts for a space shuttle. As an engineer, you know that a projected launch would face unknown risks because the equipment for which you are responsible would be operating outside its tested range of behaviors. However, since you are also a manager you know how important it is to your company that the launch be carried out promptly. Should you:
Answer: Allow your judgment as an engineer to override your judgment as a manager, and do not permit the launching.
Explanation:
Allow your engineering judgment to take precedence over your managerial judgment, and do not allow the launch.
What is ethics explain about professional engineering and personal ethics?Engineers must admit their mistakes and not distort or alter the facts. Engineers must notify their clients or employers if they believe a project will fail. Engineers must not accept outside work that interferes with their regular work or interests.
Engineers should adhere to their professional ethics code for the following reasons: It helps them avoid legal issues, such as being sued. It defines clearly what the public has a right to expect from responsible engineers. It improves the image of the profession, resulting in higher pay for engineers.
Ethics are principles that are followed based on a person's sense of moral responsibility.Engineering ethics is the study of related questions about moral ideals, character, policies, and relationships of people and organizations involved in technological activity.
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Which of the following statements is CORRECT? a. The specific risk premium used in the CAPM is the same as the risk premium used in the bond-yield-plus-risk-premium approach. b. Beta measures market risk, which is, theoretically, the most relevant risk measure for a publicly-owned firm that seeks to maximize its intrinsic value. This is true even if not all of the firm's stockholders are well diversified. c. An advantage shared by both the DCF and CAPM methods when they are used to estimate the cost of equity is that they are both "objective" as opposed to "subjective," hence little or no judgment is required. d. The discounted cash flow method of estimating the cost of equity cannot be used unless the growth rate, g, is expected to be constant forever. e. If the calculated beta underestimates the firm's true investment risk—i.e., if the forward-looking beta that investors think exists exceeds the historical beta—then the CAPM method based on the historical beta will produce an estimate of rs and thus WACC that is too high.
Answer:
Correct Answer:
b. Beta measures market risk, which is, theoretically, the most relevant risk measure for a publicly-owned firm that seeks to maximize its intrinsic value. This is true even if not all of the firm's stockholders are well diversified.
Explanation:
In the Options given above, the only one that is TRUE is Option B which is about a Beta measures market risk found in a publicly-owned firm.
You've been brought in as a security consultant for a small bicycle manufacturing firm. Immediately, you notice that they're using a centralized key-generating process, and you make a note to dissuade them from that without delay. What problem is created by using a centralized key-generating process?
Answer: Key transmission
Explanation:
Using a centralized key-generating process always leads to key transmission.
Originally, filters for Mr. Coffee electric-drip coffeemakers were sold through appliance and mass merchandise stores. If the company decided to sell the filters in grocery stores where customers purchased their coffee, what type of intermediaries would the company most likely hire
Answer: Food brokers
Explanation: Food brokers may also be regarded as a type of sales agent who negotiates product sales from manufacturers and sells to consumers including wholesale resselllers, retailers chain or independent suppliers. However, in the case of food brokers, they own their businesses and have pool of clients. When Producers sell though food brokers, they do not have to start sourcing for markets as this is handled by the food brokers who works with both the producer and the wholesale outlets thereby eliminating the need for producers to start sourcing for market to see their products.
An unlevered firm has a cost of capital of 12.46 percent and a tax rate of 35 percent. The firm is considering a new capital structure with 35 percent debt. The interest rate on the debt would be 6.68 percent. What would be the firm's levered cost of
Answer:
Firm's levered cost of capital = 14.48% (Approx.)
Explanation:
Given:
Cost of capital = 12.46 percent = 0.1246
Tax rate = 35 percent = 35%
New capital structure = 35 percent debt = 35%
Interest rate = 6.68 percent = 0.0668
Find:
Firm's levered cost of capital
Computation:
Firm's levered cost of capital = 0.1246 + [35% / (1 - 35%)](1 - 35%)(0.1246 - 0.0668)
Firm's levered cost of capital = 0.1448
Firm's levered cost of capital = 14.48% (Approx.)
The economic principle which states that the maximum value of an improved property is realized when other properties in the immediate area have compatible and harmonious architecture is called
Answer: conformity
Explanation:
The principle of conformity says that conformity to land use objectives contributes to economic stability in a residential community. Because of this homes are built in the similar structure and style as the other properties in that same area, because the values will go up.
Hence, the economic principle which states that the maximum value of an improved property is realized when other properties in the immediate area have compatible and harmonious architecture is called conformity.
Sara spends $25 for an all-day ticket to an amusement park. After one ride, it begins to rain and she wishes she had never come. Since she has already paid for her ticket, she should stay at the amusement park until it closes or she has wasted her $25.A. TrueB. False
Answer:
False.
Explanation:
False, it is given that Sara spends $25 for all-day ticket in the amusement park. However, this is a shuck cost that she can not recover. Moreover, she has taken one ride so marginal analysis shows that all his $25 is not wasted. She has utilized some portion of their money so we can not say that she has wasted all his money.
Palmer goes to a truck dealership and asks for a truck capable of handling a 5000-pound load.He makes it clear that it is up to the salesman to select an appropriate truck.Without saying anything about the truck's load-carrying capacity,the salesman selects a certain truck for Palmer.Relying on the salesman's choice,Palmer buys the truck in question.However,the truck can only handle a 2500-pound load.Palmer wants to sue the dealership because he didn't get the truck he desired.Which of the following product liability theories gives Palmer his best chance of recovery?
A) Express warranty
B) Implied warranty of fitness
C) Implied warranty of merchantability
D) Section 402A
Answer:
Correct Answer:
B) Implied warranty of fitness
Explanation:
A products liability claim normally involves injury or damage caused by a defective product. Proving the claim usually involves one or more of three basic theories of liability: negligence, breach of contract/warranty, and strict liability.
Since there was a bridge of warranty by the truck dealership despite Palmer demanding the best truck, he would be able to sue the dealership under implied warranty of fitness.
In one state, a mortgagee holds legal title to real property offered as collateral for a loan, and the mortgagor retains the rights of possession and use. If the borrower defaults, the lender is entitled to immediate possession and rents. This state can be BEST characterized as what kind of state
Answer:
Lein Theory.
Explanation:
Lien theory refers to the theory in which the buyer stops the property deed at the time of the mortgage. Also the buyer promised to pay all the payments so that the mortgage could become a lien on a property but at the same time the title would remain with the buyer but if all the payments are paid so the lien could be removed
Therefore in the given situation, it represents the lien theory
A company sells square carpets for $55 per square foot. It has a simplified manufacturing process for which all the carpets each week must be the same size, and the length must be a multiple of a half foot. It has found that it can sell 100100 carpets in a week when the carpets are 33 ft by 33 ft, the minimum size. Beyond this, for each additional foot of length and width, the number sold goes down by 55. What size carpets should the company sell to maximize its revenue? What is the maximum weekly revenue?
Complete Question:
A company sells square carpets for $5 per square foot. It has a simplified manufacturing process for which all the carpets each week must be the same size, and the length must be a multiple of a half foot. It has found that it can sell 100 carpets in a week when the carpets are 3 ft by 3 ft, the minimum size. Beyond this, for each additional foot of length and width, the number sold goes down by 5. What size carpets should the company sell to maximize its revenue? What is the maximum weekly revenue?
Answer:
1. The size carpets of 3 ft by 3 ft will maximize the company's revenue. This is also the minimum size. This is more so given that "for each additional foot of length and width, the number of sales goes down by 5."
2. The maximum weekly revenue:
The maximum weekly sales revenue
= $45 x 100
= $4,500
Explanation:
a) Data and Calculations:
3" x 3" = 9 squared feet
1 squared foot sells for $5
Therefore, 9 squared feet will sell for $45 ($5 x 9)
Maximum number of sales = 100 carpets per week
Therefore, the maximum sales revenue = $45 x 100 = $4,500
b) To maximize company revenue, this company must sell the highest number of carpets possible and not less. If this company increases the size of the carpet beyond the minimum, sales will reduce by 5, according to the information provided. However, there was no indication that the reduced sales will result to increased price per carpet.
n your own words define employment-at-will and explain whether or not you agree with this principle. Next, discuss your thoughts on workplace testing and its role in the hiring process. Do you feel this is a fair hiring practice? Why or why not?
Answer:
a) Employment-at-will is a form of employer-employee relationship which may be terminated by the employer at any time without due consultation with the employee as long as the reason for the termination is not against the law.
b) Work Place Testing: This refers to all the series of tests that an employer can and may administer to a job applicant in order to ascertain their suitability for the role and ensure that they are a culture fit.
Workplace Testing is a fair hiring practice. There is no use hiring an employee only to discover few months later that they cannot do the job as they asserted on their resume. This can be very detrimental to the business as it can leave the business very vulnerable.
e If a candidate is turned down after testing, it doesn't mean they are not capable of being productive at all. It only means that they don't match the person specification for the current job under consideration.
Cheers!
Job specifications can be defined as: a. a set of procedures for advertising job openings within a company to existing employees. b. written descriptions of the basic responsibilities required of an employee holding a particular job. c. planned sequences of jobs through which employees may advance within an organization. d. a written summary of the qualifications needed to successfully perform a particular job.
Answer:
d. a written summary of the qualifications needed to successfully perform a particular job.
Explanation:
Job specification defines that when a person completes their studies with his specialization then he or she looks for a job for that particular field. So, it is necessary to choose specialization so that a person can perform in a better manner in an organization to achieve the company objective.
Therefore, according to the above explanation, the correct answer is d.
Internal controls Group of answer choices consist of policies and procedures designed to provide reasonable assurance that the company achieves its objectives and goals. are implemented by and are the responsibility of the auditors. only apply to SEC companies. guarantee that the company complies with all laws and regulations.
Answer:
consist of policies and procedures designed to provide reasonable assurance that the company achieves its objectives and goals
Explanation:
Internal control refers to the policies and procedures that the management should be used for attaining the goals and objectives. It provides an environment where the managers and staff could maximize the efficiency and effectiveness of the day to day operations
So as per the given situation, the above statement should be true
__________defines quality system standards, based on the premise that certain generic characteristics of management practices can be standardized and that a well-designed, well-implemented, and carefully managed quality system provides confidence that the outputs will meet customer expectations and requirements.
Answer:
International Organization for Standardization (ISO).
Explanation:
ISO defines quality system standards, based on the premise that certain generic characteristics of management practices can be standardized and that a well-designed, well-implemented, and carefully managed quality system provides confidence that the outputs will meet customer expectations and requirements. ISO is an acronym for International Organization for Standardization, it was founded in October 1946 and it is made up of 164 members from 91 different countries across the world. ISO is a Non-governmental organization that has its headquarters in Geneva, Switzerland.
With the emergence of smartphones, users no longer have to carry a separate music player, a video game, a laptop, or a magazine to keep themselves entertained when traveling. A smartphone is loaded with a variety of applications to satisfy all the customer needs that different industries or products individually satisfied earlier. As a result, the smartphone industry has been posing a threat to a lot of other unrelated industries. What is this phenomenon best known as
Answer: Industry Convergence
Explanation: Industry Convergence has been boosted by the increased leverage of science and technology to various industries which has seen many industries break from the traditional single market focus and transition in a more robust cross industry focus whereby industries can incorporate several individual product into its production plan thereby providing more value added product and services. Smartphone companies as described above have integrated several single market products such as radio, music player, gaming, internet connectivity, camera and video recording, flash light(torch) and so on. thereby creating a robust and cross-industry product which adds more value and products able to withstand competition.
what is the best business organization for annabeth’s new company?
a corporation, because she will need financing to get started.
a sole proprietorship, because the business is small and simple to operate.
a partnership, because she lacks the skills to make machine parts
a cooperative, because local businesses will be her customers.
Answer: A Corporation, because she will need financing to get started.
Explanation:
As Annabeth would like to buy a factory to begin making the parts, she would would need a huge cash outlay to get started. By starting a Corporation, she can raise cash easier from the shareholders as well as utilize the knowledge and expertise of others who will join the company to help her in areas she might not be well versed in such as in Accounting or business administration.
Another reason a Corporation would be better is because of the realization of her longer term plans. A Corporation is more likely to expand in the the future which will enable Annabeth realize her dreams of selling to Europe and South America. Indeed, she has a better chance of achieving that sooner rather than later.
Answer: A)
Explanation:
A company reports 2021 pretax accounting income of $66 million, but because of a single temporary difference, taxable income is only $35 million. No temporary differences existed at the beginning of the year, and the tax rate is 25%. Prepare the appropriate journal entry to record income taxes.
Answer:
Income tax expense $1,000,000 Dr.
Deferred tax liability $7,750,000 Dr.
To income tax payable $8,750,000 Cr.
Explanation:
Given the following :
Pretax accounting income = $66 mollion
TAXABLE INCOME = $35 million
Tax rate = 25%
Income tax payable:
Income tax rate × taxable income
25% × 35,000,000
= $8,750,000
Deferred tax liability :
(pretax income - taxable income) × tax rate
($66 - $35) million × 25%
$31,000,000 × 25%
= $7,750,000
Income tax expense :
Deferred tax + income tax payable
$(8,750,000 - 7,750,000)
= $1,000,000
How to calculate momentum?
Answer:
p=mv
Explanation:
the formula for momentum is
p=mv
Answer:
By multiplying mass and velocity
Explanation:
Anastasia makes a good salary but wants to be sure she has good credit so she can buy a condominium when she has saved enough money for a down payment on a mortgage. What is the best thing she can do to improve her creditworthiness
Answer: She should pay down both her student loan and the credit card debt
Explanation:
From the question, we are informed that Anastasia makes a good salary but wants to be sure she has good credit so she can buy a condominium when she has saved enough money for a down payment on a mortgage.
The best thing she can do to improve her creditworthiness is for her pay down both her student loan and the credit card debt. This would help her to increase her creditworthiness.
Answer:
B) She should pay down her student loan and credit card debt.
Explanation:
edge 2021
Question 2 of 10
Which of the following skills do employers in any field expect their employees
to have?
O A. Ability to use a cash register
O B. Ability to lift at least 30 pounds
O c. Ability to use word processing software
O D. Ability to provide a healthy work environment
Answer:
D. Ability to provide a healthy work environment
Explanation:
The most important skill needed by employers in any field is the ability to provide a healthy work environment. Irrespective of any expertise, a good and healthy work environment is needed for employees so that they can be productive. A healthy environment leads to reduce in injuries and illness thereby providing a stress free environment which in turn leads to an increased productivity.
A. Stine Co. previously wrote off a $200 bad debt from Thorn Co. using the direct write-off method. On October 1, Stine unexpectedly receives a check in the amount of $200 from Thorn Co. The entry to record this receipt of $200 will include a: (Check all that apply.)
Answer:
Journal Entry
October 1
Dr. Account Receivables $200
Cr. Bad Debt $200
Dr. Cash / Bank $200
Cr. Account receivables $200
OR
Dr. Cash / Bank $200
Cr. Bad Debt $200
Explanation:
A receivable is written off when it is expected to be uncollectable. In this question, the Stine Co. previously wrote off and now the check from Stine is received. While writing off Thorn Co. removed the receivable value fom the accounting records. Now we need to adjust the value and record the transaction to make accounting records correct.
Which of the following is likely to happen when a new business opens in a community?
The community loses money.
Community taxes decrease.
Community taxes increase.
The flow of money in the community increases.
Answer:
community taxes decrease
A deficit on the current account:__________.a) has no relationship to the capital and financial account. b) means that a nation is making international transfers. c) normally causes a deficit on the capital and financial account. d) normally causes a surplus on the capital and financial account.
Complete Question:
A deficit on the current account:
Group of answer choices
a. normally causes a surplus on the capital and financial account.
b. normally causes a deficit on the capital and financial account.
c. has no relationship to the capital and financial account.
d. means that a nation is making international transfers.
Answer:
a. normally causes a surplus on the capital and financial account.
Explanation:
A deficit can be defined as an amount by which money, falls short of its expected or required value.
Generally, deficit in financial accounting is usually as a result of expense exceeding revenue or revenue falling below expenses at a specific period of time.
For instance, when liabilities exceeds assets or import exceeds export there would be a deficit in the financial account.
A deficit on the current account normally causes a surplus on the capital and financial account. This is simply as a result of a country having to import more goods and services than it is exporting to other countries in trade.
Simply stated, a deficit on the current account ultimately implies that the value of goods and services exported is lower than the value of goods and services being imported in a particular country.
The price elasticity of supply measures how Multiple Choice easily labor and capital can be substituted for one another in the production process. responsive the quantity supplied of X is to changes in the price of X. responsive the quantity supplied of Y is to changes in the price of X. responsive quantity supplied is to a change in incomes.
Answer:
Yes
Explanation:
Cause an increase in price causes increase in goods produced