Answer:
Required 1 : Recording
January 1
Cash $42,000 (debit)
Common Stock $42,000 (credit)
January 5
Land $24,000 (debit)
Note Payable $24,000 (credit)
January 9
Equipment $9,000 (debit)
Cash $9,000 (credit)
January 12
Salaries Expense $9,000 (debit)
Accounts Payable $9,000 (credit)
January 18
Cash $13,000 (debit)
Service Revenue $13,000 (credit)
January 23
Supplies $3,000 (debit)
Accounts Payable $3,000 (credit)
January 31
Accounts Payable $9,000 (debit)
Cash $9,000 (credit)
Required 2 : T - Accounts
Cash Account
Debit :
Common Stock $42,000
Service Revenue $13,000
Totals $55,000
Credit :
Equipment $9,000
Salaries Payable $9,000
Balance c/ d $37,000
Totals $55,000
Common Stock Account
Debit :
Balance c/d $42,000
Totals $42,000
Credit :
Cash $42,000
Totals $42,000
Land Account
Debit :
Note Payable $24,000
Totals $24,000
Credit :
Balance c/d $24,000
Totals $24,000
Note Payable Account
Debit :
Balance c/d $24,000
Totals $24,000
Credit :
Land $24,000
Totals $24,000
Equipment Account
Debit :
Cash $9,000
Totals $9,000
Credit :
Balance c/d $9,000
Totals $9,000
Accounts Payable Account
Debit :
Cash $9,000
Balance c/d $3,000
Totals $12,000
Credit :
Salaries Expense $9,000
Supplies $3,000
Totals $12,000
Salaries Expense Account
Debit :
Accounts Payable $9,000
Totals $9,000
Credit :
Balance c/d $9,000
Totals $9,000
Supplies Account
Debit :
Accounts Payable $3,000
Totals $3,000
Credit :
Balance c/d $3,000
Totals $3,000
Service Revenue Account
Debit :
Balance c/d $13,000
Totals $13,000
Credit :
Cash $13,000
Totals $13,000
Required 3 : Trial Balance
Debit Credit
Cash Account $37,000
Common Stock $42,000
Land $24,000
Note Payable $24,000
Equipment $9,000
Accounts Payable $3,000
Salaries Expense $9,000
Supplies $3,000
Service Revenue $13,000
Totals $82,000 $82,000
Explanation:
Transactions are first recorded in the Journals, then posted to T - Accounts. The T - Account Balances are used to construct the Trial Balance.
"Your company currently is performing all functions in-house and is now considering creating a VMS. What is true about VMS's
Question options:
create inefficiencies
take advantages of others strengths
decrease control for your company
typically increase costs
All are true
All are false.
Answer:
take advantages of others strengths
Explanation:
Vendor management system abbreviated VMS is software used by companies in managing staff, temporary and permanent. Among other benefits such as cost monitoring and reduction, vendor performance tracking, process improvement and management, VMS also allows the company outsource and utilize the strengths of others such as utilizing competencies and skills that are not in-house which can be cost effective
The true statement about the VMS is that it takes advantage of others' strengths.
What is VMS?This refers to the vendor management system which is used by corporations to manage their staff and also to monitor costs and improve general processes.
Hence, from the complete question, there are some answer choices and from there we can surmise that the correct answer is that the VMS takes advantage of others' strengths.
This conclusion was gotten because the company is said to be performing all functions in-house and want to create a VMS which would effectively make use of the strengths of others to create an efficient system.
Read more about VMS here:
https://brainly.com/question/25635625
A company's strategy evolves over time as a consequence of: A. the need to keep strategy in step with changing circumstances, market conditions, and changing customer needs and expectations. B. the proactive efforts of company managers to fine-tune and improve one or more pieces of the strategy. C. the need to abandon some strategy features that are no longer working well. D. the need to respond to the newly initiated actions and competitive moves of rival firms. E. All of these.
Answer: All of the above
Explanation:
The strategy of a company has to do with how the business will be run by the management and.the necessary action that have been put in place to achieve their goals.
A company's strategy evolves over time as a consequence of need to keep strategy in step due to evolving market conditions, and evolving customer needs, proactive efforts of an organization to fine-tune and also improve its strategy and the need to respond to competitive actions by rivals.
Therefore, all of the above is correct.
Which of the scenarios best reflects the meaning of the term inflation targeting? a) In anticipation of the upcoming election, the chairman of the Federal Reserve lowers interest rates, hoping to win support for the incumbent president. b) A central bank is expected to achieve a 3% annual inflation rate. c) Hoping to reduce inflation to improve public opinion, the Federal Reserve decides to lower interest rates. d) A local shopping mall offers an "inflation discount," which compensates for the recent increase in prices, in the hopes of targeting savvy consumers.
Answer:
b) A central bank is expected to achieve a 3% annual inflation rate
Explanation:
Inflation targeting is a type of monetary policy where the central bank of a country sets an inflation rate as its goal or target.
Elijah is trying to manage himself more effectively. He knows that he should empty his head, but which of the following actions will help him to do that?
a. Prioritizing all of his ideas and activities so that he knows which ones he should focus on first.
b. Listing every commitment he currently has, whether it is big or small.
c. Setting up a system of buckets to capture all of his ideas. These buckets could include a cell phone organizer, paper and pencil, and baskets for sorting mail.
d. Delegating projects to his employees and others who can and will take on some of his responsibilities.
Answer:
The correct answers are:
a.) Prioritizing all of his ideas and activities so that he knows which ones he should focus on first.
d.) Delegating projects to his employees and others who can and will take on some of his responsibilities.
Explanation:
Elijah's goal is to empty his head. This means that Elijah wants to reduce the burden of all the unmet tasks or expectations on him, therefore, whatever activities that are our choices will be activities that are aimed at freeing up his schedule, and the most appropriate choices are:
a.) Prioritizing all of his ideas and activities so that he knows which ones he should focus on first. This will make him focus on important tasks and remove the burdens of less important tasks, hence "emptying his head"
d.) Delegating projects to his employees and others who can and will take on some of his responsibilities. Delegation is a very effective way of reducing workload and stress. Tasks are given to employees, and all he does is to get reports and updates. This will help him free-up his head.
How many pennies would be needed, if formed into a single line, would be needed to reach the Moon?
Answer: 242,288,640,000 pennies
Explanation:
A penny is about 1/16 of an inch and the distance between the Earth and the moon is 239,000 miles.
The distance needs to be converted to inches.
1 mile is about 5,280 feet and 1 feet is about 12 inches.
239,000 miles in inches is;
= 239,000 * 5,280 * 12
= 15,143,040,000 inches.
A penny is 1/16 of an inch so it would take;
= 15,143,040,000 * 16
= 242,288,640,000 pennies
You are a shareholder in a C corporation. The corporation earns $1.75 per share before taxes. Once it has paid its taxes it will distribute the rest of the earnings to you as a dividend. Assume the corporation tax rate is 35% and the personal tax rate on (both dividend and non-dividend) income is 30%. How much is left for you after all taxes are paid
Answer:
$0.80.
Explanation:
We can find the remaining amount earned by just dedcuting he income tax. The corporation tax will be deducted from the earnings before tax at the rate of 35% and the personal tax will be deducted from the dividends distributed at the rate of 30%.
$
Earnings before taxes 1.75
Dividend distributed $1.1375
less:
Corporate tax ($1.75*35%) (0.6125)
Personal tax (1.1375 X 30%) (0.34125)
Amount remaining $0.80.
What would be the marginal and average tax rates for a corporation with an income level of $100,000?
Answer:
Marginal tax rate = 34%
Average tax rate = 22.25%
Explanation:
The marginal tax rate is the rate of tax income earners incur on each additional dollar of income. As the marginal tax rate increases, the taxpayer ends up with less money per dollar earned than he or she had retained on previously earned dollars.
DATA
Income level = 100,000
Corporation Tax rates
0-50,000 = 15%
50,000 - 75,000 = 25%
75,000 - 100,000 = 34%
Marginal tax rate = 34%
Solution
Income tax owed = (15% x 50000)+(25% x 25000)+(34%*25000)
Income tax owed = 22,250
Average tax rate = 22,250/100000
Average tax rate = 22.25%
A stock has had the following year-end prices and dividends:
Year Price Dividend
1 $ 43.31 -
2 48.29 $ .51
3 57.21 .54
4 45.29 .60
5 52.21 .65
6 61.29 .73
What are the arithmetic and geometric returns for the stock? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places (e.g., 32.16))
Answer:
Year Price Dividend Return
1 43.31 - -
2 48.29 0.51 12.68%
3 57.21 0.54 19.59%
4 45.29 0.60 -19.89%
5 52.21 0.65 16.71%
6 61.29 0.73 18.79%
arithmetic returns basically refer to the mean (or average) of the returns = (12.68% + 19.59% - 19.89% + 16.71% + 18.79%) / 5 = 47.88% / 5 = 9.58%
geometric returns involves multiplying the returns and then squaring them = ⁵√(1.1268 x 1.1959 x 0.8011 x 1.1671 x 1.1879) - 1 = 1.0840 - 1 = 0.084 = 8.40%
Which of the following questions does the organization's mission statement answer?
A. What are our long-term strategies?
B. What are our long-term goals and objectives?
C. How do we operate in the existing environment?
D. What do we want to become?
E. All of these are answered by the mission statement
Answer:
D. What do we want to become?
Explanation:
A mission statement refers to a statement in which the existence reason could come why it is established, its entire objectives, its products and services that are provided to the customers, and at last the location where they deal
So as per the given options the option D is correct as it represent the mission statements and the hence the same is to be considered
Therefore all the other options are wrong or incorrect
Culture is an integral part of any organization. Please define culture, how is it created, and give three examples of companies with strong culture and explain how it is a competitive advantage for them. g
Answer:
Explanation:
An organization's culture shows the proper way that employees are expected to behave in an organization. Organizational culture is made up of values and shared beliefs which have been put in place by the leaders and then passed across to employees.
Organization cultures are created by several factors, such as founders preferences and values, goals, industry demands, and assumptions and maintained through leadership, employee onboarding, and reward system of the organization.
Examples of companies with strong organizational culture are:
• Netflix: is a leading technology companies that is known worldwide. Netflix sets the highest standards for their employees. Standards are maintained by rewarding high performers.
• Google: Google is an icon that most companies look up to. They give financial bonuses, free meals, employee social gatherings, gyms, parks, a dog-friendly environment etc. Google recruits the best hand and employees are motivated to work harder.
• Twitter: Twitter has a team-orientated environment and the employees enjoy rooftop meetings, health and fitness classes, friendly environment and continued education. Employees of Twitter believe that the work done by them matters and thus tends to aid productivity.
The company culture is a competitive advantage to these companies as it helps to improve employee retention, gives them a brand identity and also inspire the workers to work harder and achieve more.
1. John Jamison wants to accumulate $75,563 for a down payment on a small business. He will invest $35,000 today in a bank account paying 8% interest compounded annually. Approximately how long will it take John to reach his goal
Answer:
10 years.
Explanation:
The time period, N for John to reach his goal can be determined using a financial calculator as follows :
FV = $75,563
PV = - $35,000
PMT = $ 0
R = 8.00 %
P/YR = 1
N = ?
Using a financial calculator, the time period, N for John to reach his goal is 10 years.
When the value of one currency increases relative to the value of another currency, it has experienced:
Answer:
Exchange rate appreciation
Explanation:
Exchange rate appreciation is when there is an increase in the value of country 'A's currency when compared with county 'B' s currency. A country's exchange rate would appreciate if it is experiencing higher economic growth, fewer or lower rate of inflation etc.
The effect of exchange rate appreciation is that the value of the currency for a country whose exchange rate appreciate against the other country will be higher hence makes import cheaper for them whereas export becomes more expensive. There could also be a reduction in inflation for a country whose currency appreciate because most firms would usually cost costs and also because import prices are falling.
In order to formulate strategies that align with the mission some of the activities the organization will need to perform are
Complete Question:
In order to formulate strategies that align with the mission some of the activities the organization will need to perform are?
Group of answer choices
A. Know their core competencies.
B. Assess internal strengths and weaknesses.
C. Examine the external environment.
D. Analyze competitors.
E. All of these should be considered when formulating strategies.
Answer:
E. All of these should be considered when formulating strategies.
Explanation:
In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
In order to formulate strategies that align with the mission some of the activities the organization will need to perform are;
1. Know their core competencies: this involves identifying your strengths such as knowledge, technology, underlying skill, experience, ability or process that enables you to perform exceptionally and provide a unique set of products or services that meets the needs of your customers.
2. Assess internal strengths and weaknesses: it gives an organization certain ADVANTAGES, edge and disadvantages in meeting the needs of various customers by analyzing their strengths, weaknesses, opportunities and threats (SWOT).
3. Examine the external environment: this involves examining and identifying all the factors outside of an organization that affects its performance such as customers, government policies, competitors etc.
4. Analyze competitors: organization should ensure they are always a step ahead of the their competitors in the industry.
What is the differential revenue from the acceptance of the offer? a. $300,000 b. $420,000 c. $120,000 d. $240,000
Answer:
a. $300,000
Explanation:
Calculation
Calculation for the differential revenue from the acceptance of the offer
Using this formula
Differential revenue= Units of offer received× Amount per unit
Let plug in the formula
Differential revenue=20,000 units× $15 per unit
Differential revenue=$300,000
Therefore the differential revenue from the acceptance of the offer will be $300,00
A company issues $15200000, 9.8%, 20-year bonds to yield 10% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14939182. Using effective-interest amortization, how much interest expense will be recognized in 2017
Answer:
$1,494,026.16
Explanation:
journal entry to record issuance:
January 1, 2017, bonds issued at discount
Dr Cash 14,939,182
Dr Discount on bonds payable 260,818
Cr Bonds payable 15,200,000
the first coupon payment:
amortization of bond discount = (14,939,182 x 0.1/2) - 744,800 = 2,159.10
Dr Interest expense 746,959.10
Cr Cash 744,800
Cr Discount on bonds payable 2,159.10
the second coupon payment:
amortization of bond discount = (14,941,341.10 x 0.1/2) - 744,800 = 2,267,06
Dr Interest expense 747,067.06
Cr Cash 744,800
Cr Discount on bonds payable 2,267,06
total interest expense for 2017 = $746,959.10 + $747,067.06 = $1,494,026.16
Oriole Company issues $200,000, 20-year, 9% bonds at 104. Prepare the journal entry to record the sale of these bonds on June 1, 2020
Answer:
Dr Cash $208,000
Cr Bonds payable $200,000
Cr Premium on bonds payable $8,000
Explanation:
Preparation of the journal entry to record the sale of these bonds on June 1,
Based on the information given we were told that the company issues the amount of $200,000 at 104 which means the that the journal entry to record the sale of these bonds on June 1 will be:
Dr Cash $208,000
(2,000 × $104)
Cr Bonds payable $200,000
(2,000 × $100)
Cr Premium on bonds payable $8,000
(2,000 ×$4)
Note:-
$200,000/100 =$2,000
If the stock price of a target company jumps up when the acquisition of the company is announced, the market _____.
Answer:
The market cannot be strong form efficient.
Explanation:
A market seems to be a real or conceptual location wherever production and consumption forces work, and also where market participants compete for capital or transact to exchange products or arrangements or equipment.The market now also needs to illustrate all of the documentation or details available in the individual's domain in case of an increase form effective and cheaper. That won't be giving you any chance of an increase in price.Which of the items below does not appear on the work sheet? (Points: 2)
a) adjusting entries
b) the unadjusted trial balance
c) closing entries
d) the drawing account
Answer: c) closing entries
Explanation:
An Accounting worksheet is simply used to be able to draft accounting information and make reports from them. As such you will find them with adjusting entries, unadjusted trial balance and the drawing account.
Closing entries are used to close out the books at then end of an accounting period and so will not appear on an accounting worksheet.
HR can be a strategic partner by providing aspirations to the company and functioning as an inspiration for strategic planning. What knowledge is it critical for HR managers to have if they are to perform this role.
Answer:
Business knowledge
Explanation:
Business knowledge is defined as the extensive experience and insight an individual has into business dynamics, customer preferences, staff skills and potential, and the business's general direction.
For a HR staff to be a strategic partner and provide aspirations to the company and function as an inspiration for strategic planning, he will need to use a good business knowledge.
This will enable him provide valuable insights on how the business can achieve its goals and objectives.
He will have the ability to ensure continuous business growth by identifying opportunities for financial success.
Which of the following are included in current assets?a. Prepaid rent b. Taxes payable c. Automobiles d. Common stock e. None of the above
Answer:
The answer is A.
Explanation:
Current asset is an asset that has a life span of less than 12 months(a year). If its life span is more than a year or 12 months, then it is non-current asset.
Prepaid rent is a current asset. A rent usually lasts for a year. It is an advanced payment. The money has been paid but the service has not been fully enjoyed. So we treat it as a current asset
Option B is a current liability.
Option C is a non-current asset
Option D is an equity
Besides their own team accounts, sales managers at Universal Containers need to have READ access to all accounts of the same segment in other countries. Role hierarchy was implemented accordingly (based on countries), but a sales manager in the US is complaining that he cannot view account records of the same segment in Canada. What should be done to grant access in a proper way?
Available Options Are:
A. Create an owner-based sharing rule to grant access to account records that have the same segment to all sales manager roles.
B. Change the role hierarchy and put all of the sales managers in the US and Canada in the same role.
C. Create criteria-based sharing rules to grant access to account records that have the same segment to all sales manager roles.
D. Create a public group and include all accounts of the same segment and grant access through a permission set.
Answer:
Option A. Create an owner-based sharing rule to grant access to account records that have the same segment to all sales manager roles
Explanation:
This owner based sharing will allow the sales manager to access information but he will not be able to alter information which gives a right to access information only. This sharing of information will resolve the sales manager concern and will also him and other sales manager to use this information to make informed decisions. Hence Option A is correct.
Putting in the same role would manipulate the data because the data entered by each sales manager will not be distinguished easily and thus the system will not produce meaningful results. Hence Option B is also incorrect.
Option C is also incorrect because allowing access on meeting certain criteria would result in restriction of data. Thus it is not the solution.
Option D allowing access to all the data would not be necessary as some of the data might require protection and also that it might be meaningless to have private accounts. Thus the option D is incorrect.
Calculate the monthly mortgage payment with the following conditions: $230,000 borrowed, 6.35% interest, 30 year term.
Answer:
Monthly installment = $1,431.20
Explanation:
Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest.
The monthly equal installment is calculated as follows:
Monthly equal installment= Loan amount/Monthly annuity factor
Loan amount = 230,000
Monthly annuity factor = =( 1-(1+r)^(-n))/r
r- Monthly interest rate (r) = 6.35%/12= 0.529%
n- Number of months ( n) = 30 × 12= 360
Annuity factor = ( 1- (1.00529)^(-360)/0.00529=
Monthly installment= 230,000 /160.704
Monthly installment = $1,431.20
You write one AT&T February 50 put for a premium of $5. Ignoring transactions costs, what is the breakeven price of this position
Answer:
$45
Explanation:
Calculation for breakeven price of this position
Using this formula
Breakeven price = + AT&T February put - Premium
Let plug in the formula
Breakeven price= +$50-$5
Breakeven price=$45
Therefore breakeven price of this position will be $45
A company's income statement showed the following: net income, $136,000 and depreciation expense, $33,600. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,300; merchandise inventory increased $21,800; and accounts payable increased $5,300. Calculate the net cash provided or used by operating activities.
a. $137,000.
b. $183,900.
c. $140,300.
d. $173,500.
e. $206,500.
Cash flow from operating activities on the basis of the given income statement is $164,400.
What is the net cash provided?[tex]= \text{Net income} + \text{Depreciation} + \text{Decrease in receivables} - \text{Increase in inventory} + \text{Increase in accounts payable}[/tex]
[tex]= $136,000 + $33,600 + $11,300 - $21,800 + $5,300[/tex]
[tex]= $164,400[/tex]
Because depreciation is not a cash item, net cash flow supplied or consumed by operational activities equals net income plus depreciation, plus the reduction in accounts receivable minus the rise in product inventory plus the increase in accounts payable.
The given options do not match the calculated option. I believe $164,400 is the net cash.
For more information about net cash from operating activities, refer below
https://brainly.com/question/13036394
Taylor's Theory of Scientific Management proposes that time and motion studies can determine the most time-efficient way to do a job.
A. True
B. False
Answer:
True
Explanation:
Taylor's time and motion studies is premised on the fact that certain people work efficiently when compared to others. This study is as a result of experiments carried out by him inorder to know the optimal performance of workers. He came to a conclusion that an important part of workplace efficiency is for managers to select and hire the right people for a job - people who work efficiently more than others, i.e people who are more productive when compared to others.
you cannot meet the assignment deadline and complete other small tasks you have. what would you most likely do
Answer:
focus on and finish the assignment which has the deadline
Explanation:
In a scenario such as this one, you should focus on and finish the assignment which has the deadline. This is because unlike the other tasks, this assignment needs to be finished before a set date, otherwise it will become invalid and the client/boss will not accept it and that can bring serious consequences. The other small tasks can be completed later once the assignment has been delivered.
If you deposit $9000 into a bank account that pays 0.25% per month, what the amount your account will be worth after 2 years?
Answer:
$9,045.11.
Explanation:
The value of the investment, fv after 2 years can be determined as fallows :
PV = - $9000
Pmt = $0
r = 0.25%
n = 2 × 12 = 24
p/yr = 12
FV = ?
Using a financial calculator, the value of the investment, fv is $9,045.11.
Explain the four phases of a product's lifestyle and three common reasons that new products fail. g
Answer:
The answer is below
Explanation:
The four phases of a product's lifestyle are:
1. Introduction: this is the early stage of a product when a particular product is introduced into the market. At this stage, the market is relatively unknown, the sales are generally low, and no established customer base.
2. Growth: this is a stage characterized by by-products' rise in sales and identification, and the product is beginning to have a customer base that is building up gradually at a relative pace.
3. Maturity: this is a phase in which a product has reached or closer to the peak in terms of sales and identity. Here the many consumers have been converted to customers fully.
4. Decline: This is a stage characterized by its saturation level in terms of sales and identity. At this point, the sales tend to reduce and there is little or no new consumer capture.
The three common reasons that new products fail are:
1. Product has no originality: over time, it has been observed that products that no special purpose or have distinct benefits have a higher tendency to fail.
2. Timing of production: for a new product that is released when the demand for such products is generally lower, has a higher tendency to fail.
3. Product weakness: if a new product has an obvious weakness, it quickly fails. This weakness can be as a result of low-quality materials in production.
Assume that in January 2017, the average house price in a particular area was $308,700. In January 2000, the average price was $198,300. What was the annual increase in selling price?
Answer:
2.64%
Explanation:
It requires application of basic time value of money function
n = 17
FV = $308,700
PV = $198,300
FV = PV * (1 + r)n
$308,700 = $198,300 * (1 + r)^17
$308,700 / $198,300 = ($198,300 * (1 + r)^17) / $198,300
1.556732 = (1 + r)^17
Taking 17th root of equation
1.0264 = 1 + r
r = 2.64%
One year ago, you purchased 100 shares of a stock. This morning you sold those shares and realized a total return of 8.2 percent. Given this information, you know for sure the:
Answer: e. sum of the dividend yield and the capital gains yields is 8.2 percent
Explanation:
The return of 8.2% that was realized is the sum of the dividend yield and the capital gains yield.
The dividend yield refers to the income earned from dividends issued by the company whose stock you owned divided by the stock price.
The capital yield is the change in price since you bought the stock for instance, buying the stock at a price of $15 and it is now worth $20.
These two yields will combine to give you the return of 8.2% that you realized.