The September 30 adjusted cash balance according to the books is 3040. The sum of money that a business has on hand at the moment is called its cash balance.
Cash balance per books, 9/30
Add: Notes receivable and interest collected by bank
Less: Bank charge for check printing Less: NSF check
= 2,750 +630-(50)-(290)
= 3040
This cash is held in reserve to cover any unforeseen cash outflows. Without this financial safety net, companies might find themselves unable to cover their expenses.
Normally, cash balances are put toward debt repayment or given as dividends to investors. A cash balance is especially important for businesses where there is a big variance in the timing and volume of cash inflows and withdrawals.
Businesses that have a large cash balance suffer from a financial drag and frequently miss out on investment possibilities.
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fill in the blank question. when merchandise is returned for a refund or for credit to be applied to other purchases, the situation is called a(n) . (enter one word per blank.)
Sales returns refer to situations where products are returned for a refund or credit that can be used on future purchases.
A sales return is merchandise sent back by a buyer to the seller. The return is usually because an excess quantity was either ordered or products shipped, or due to defective goods. A return may also be triggered by goods having been shipped too late, or the wrong items were shipped, or because the product specifications were incorrect.
The seller records this return as a debit to a Sales Returns account and a credit to the Accounts Receivable account; the total amount of sales products returns in this account is a deduction from the reported amount of gross sales in a period, which yields a net sales figure. The credit to the Accounts Receivable account reduces the amount of accounts receivable outstanding.
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Because of the contemporary economic issues, what can happen to the investments made of the filipino entrepreneurs to their business?
Because of the contemporary economic issues, what can happen to the investments made of the filipino entrepreneurs to their business are:
inadequate access to technologyfinancing capital,What are the contemporary issues that can have effect on the Filipino entrepreneur?The contemporary issues that can have effect on the Filipino entrepreneur is the unavailable of the financing capital
It should be noted that one of the issue that the Filipino entrepreneurs are encountering today is that they do not have full access to technology , and in today's world, technology is very important in every business.
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if a payment is made before products are shipped, an importer may be concerned about blank . (choose the two that apply.) multiple select question. insufficient funds in the account not receiving the product receiving a defective product receiving the product too quickly
if a payment is made before products are shipped, an importer may be concerned about not receiving and receiving a defective product.
Any resources, products, or services manufacturers offer consumers in another country are considered imports. CBP provides advice for novice importers, including those who have just begun importing or want to learn more about the procedure.
You purchase goods from a foreign vendor as an importer. You are their final customer. For your own use, you may import. For instance, you might need certain raw materials or semi-finished products from abroad if you manufacture goods.
When a package is marked as "shipped," it has already been placed onto a truck and is on its way to the last distribution point. Accordingly, the package can be anywhere between the origin and the destination terminals.
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billy has chosen to purchase a new vehicle. the vehicle costs $15,000. his apr is 10% and he will be financing the vehicle for 36 months. how much will billy pay each month for his new vehicle?
Billy has chosen to purchase a new vehicle. the vehicle costs $15,000. his apr is 10% and he will be financing the vehicle for 36 months. S he has to pay each month for his new vehicle is $484.01.
Annuity = Annuity * [(1 - (1 / (1 + r)n)]/r
Sum of $15,000 equals Annuity * [0.25826029636 / 0]
150.00 = Annuity * 30.9912355755 Annuity = 150.00 / 30.9912355755 Annuity = 484.0000808061 or 484.000078
The process of raising money or capital for any kind of expenditure is referred to as financing.
financing is crucial to bolstering business finances because it enables organizations to take risks and develop.
A purchase is the act of receiving products or services in return for cash or another form of payment. Typically, cash or credit is used for payment. A purchase might also be made in exchange for taking on a liability or as part of a barter exchange involving the exchange of various non-cash assets.
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bill is an accountant for a small machine shop. his boss has asked him to calculate the shop's total fixed cost. which method will get bill the correct answer?
Subtracting the total variable cost from total cost by this method bill get the correct answer.
By using the formula, average fixed cost = total fixed cost / total output, an increase in the output causes the average fixed cost to decline, keeping the total fixed cost the same.
Which of the following is most likely to be a fixed cost for a business?
Property tax is a fixed expenditure for business. It can not change according to the level of output. All other costs, i.e., expenditures for raw materials, fuel costs and wages for unskilled labor are variable costs.
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identify and explain how the intensification of trade brought prosperity and disruption to merchants and governments in the trading area.
In the trading region of the Indian Ocean, Aegean, Sahara, and overland Eurasia, the new global circulation of products and the increase of trade riches and upheaval to businesses and governments.
What is trading and how it is work?To put it simply, trading is the act of acquiring and transferring financial products with the intention of profiting from variations in their price movements, but without really being the owner of those instruments.
A job is trading?The entry hurdle to trading is often perceived as being high, yet if you're persistent and motivated, you can earn a living at it. Trading could result in a full-time career, a part-time one, or yet another source of income.
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a defined benefit plan requires an annual pension cost of $90,000 based on estimates of future pension liabilities. on december 31, the company pays $70,000 to the pension fund. the journal entry will include a.a credit to cash for $90,000. b.a debit to pension expense for $70,000. c.a debit to unfunded pension liability for $70,000. d.a credit to unfunded pension liability for $20,000.
The journal entry will include a credit to unfunded pension liability for $20,000.
Hence , option D is correct.
What is a defined benefit plan?
Defined benefit plan can be defined as a plan which provides a fixed, pre-established benefit for employees at retirement. There are usually two main types of defined benefit plans: pensions and cash balance plans. The plan provides a predetermined benefit for participants at retirement. A defined benefit pension will give me a guaranteed income for life.
The formula for calculation is
Monthly pension = 2.0% x average monthly earnings of last 5 years x years of service).
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true or false: the company's shareholders would more likely demand a higher return due to the stock's market risk because it affects all stocks in the economy.
Risk exists with every investment to some extent.
Due to the stock's firm-specific risk, shareholders will probably seek a larger return. Firm-specific risk solely impacts that specific stock. Market risk applies to all economic stocks.
How do investors normally offset increasing investment risk?
To make up for the extra risk of owning shares, investors must receive a premium in the form of a higher average return. The equity is the additional return received for holding shares as opposed to secure government debt. The investment portion you made with cash.The ideal method of reducing risk is by design rather than procedures, preventive measures, training, and limiting of operation and managerial controls. Risk reduction techniques cover the risk identification, reduction options and their implementation.
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rule 203 of the code of professional conduct addresses: question 12 options: financial statements being based on generally accepted accounting principles. ethical requirements. auditing financial statements. advertising to obtain clients.
Rule 203 of the code of professional conduct addresses financial statements based on generally accepted accounting principles.
Rule 203 prohibits an auditor from presenting unqualified opinions on financial statements if they are not approved by Generally Accepted Accounting Principles. It states that financial statements based on accepted accounting principles always present a fair financial position, cash flows, and conformity.
Rule 203 is strictly applicable in financial instances, still, it provides space for leniency in certain circumstances such as the creation of new business transactions or new legislation. These are rare circumstances where traditionally accepted accounting rules might be misleading. In such cases, the accountant has to state the reasons for not using the accounting rules.
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your parents will retire in 21 years. they currently have $260,000 saved, and they think they will need $2,450,000 at retirement. what annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? round your answer to two decimal places. 11 %
The interest rate required to get a total amount, principal plus interest, of $2,450,000.00 from simple interest on a principal of $260,000.00 over 21 years is 40.11% per year.
How can calculate simple interest?Simple interest is calculated by multiplying the principal by the time, interest rate, and time period."Simple Interest = Principal x Interest Rate x Time" is the written formula. The simplest method for calculating interest is using this equation.Equation:
Interest rate, r = (1/t)(A/P - 1)
Calculation:
Solving our equation:
r = (1/21)((2450000/260000) - 1) = 0.4010989
r = 0.4010989
Converting r decimal to R a percentage
R = 0.4010989 * 100 = 40.1099%/year
The interest rate required to get a total amount, principal plus interest, of $2,450,000.00 from simple interest on a principal of $260,000.00 over 21 years is 40.11% per year.
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what is the coupon rate of an annual bond that has a yield to maturity of 8.5%, a current price of $942.32, a par value of $1,000 and matures in thirteen years?
The coupon rate of an annual bond is 7.75 %.
942.32 = Interest x PVIFA (8.5 %, 13) + 1000 x PVIF(8.5 %, 13)
942.32 = Interest x 7.69096 + 1000 x 0.34627
Interest = ( 942.32 - (1000 x 0.34627))/7.69096
Interest = 77.50
Interest rate = 77.50/1000= 7.75 %
A bond is a loan that the bond customer, or bondholder, makes to the bond company. Governments, businesses and municipalities difficulty bonds once they need capital. An investor who buys a central authority bond is lending the government money. If an investor buys a corporate bond, the investor is lending the organization money.
In finance, a bond is a sort of safety underneath which the company owes the holder a debt, and is obliged – relying at the phrases – to pay off the most important of the bond at the maturity date as well as interest over a certain amount of time.
A bond is a debt safety, similar to an IOU. borrowers difficulty bonds to raise cash from investors inclined to lend them cash for a sure amount of time. while you purchase a bond, you're lending to the company, which may be a government, municipality, or corporation.
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the red bud company pays a constant dividend of $3.00 a share. the company announced today that it will continue to do this for another 2 years after which time they will discontinue paying dividends permanently. what is one share of this stock worth today if the required rate of return is 8.6 percent?
The worth of each share of Red Bud Company is $5.30 at a constant dividend of $3 a share.
A dividend is the distribution of a portion of an enterprise's profits to a number of its stockholders. Declarations of dividend payouts have an effect on stock prices because they can cause them to increase or decrease.
The stock has discontinued dividends, so there is no perpetual payment.
The discount rate utilized for discounting dividends is 8.6%.
Computing the worth of each share:
Worth of stock today = Dividend/(1+Rate of return)^1+Dividend/(1+Rate of return)^2+Dividend/(1+Rate of return)^number of periods
=$3.00(1+8.6%)1+$3.00(1+8.6%)2
=$2.76 + $2.56
= $5.30
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leandro corp. manufactures wooden desks. production consists of three processes: cutting, assembly, and finishing. the following costs are for work completed and transferred out of each department in april: cutting assembly finishing direct materials $7,000 $10,000 $3,000 direct labor 3,000 14,000 2,000 applied overhead 4,000 5,000 6,000 there were no work-in-process inventories, and 1,000 desks were produced. what is the cost transferred out of the assembly department? a. $54,000 b. $43,000 c. $14,000 d. $29,000
Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following costs are given for April: Cutting Assembly Finishing direct materials $7,000 $10,000 $3,000 direct labor 3,000 14,000 2,000 applied overhead 4,000 5,000 6,000 There were no work in process inventories and 1,000 podiums were produced. $29,000 is the cost transferred out of the assembly department. Correct answer is option (d).
With regards to the above, the cost
Transferred out of the assembly department
is computed as;
We would sum up all the cost associated
with the assembly department.
= Direct materials + Direct labor + Overhead
Direct materials = $10,000
Direct labor = $14,000
Overhead = $5,000
Therefore, cost transferred out of the
assembly department is
- $10,000 + $14,000 + $5,000
= $29,000
So, the correct option is (d).
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instead of a tariff, suppose a quota on imports is imposed. the quota is set at 3 widgets (maximum number of widget imports). what is the resulting price and quantity purchased of widgets?
The economic rent, which is the positive difference between the domestic price of the good and the free market price from around the world, must first be calculated before the quota rent can be calculated.
The quota rent can be calculated by multiplying that economic rent by the quantity of imported goods.
What effect does the import quota have?
The import market's consumer surplus is reduced by an import quota, while the export market's consumer surplus is increased.Producer surplus increases in the import market and decreases in the export market when an import quota is in place.When a large nation implements an import quota, its welfare may rise or fall.
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a data analyst is working for a local power company. recently, many new apartments have been built in the community, so the company wants to determine how much electricity it needs to produce for the new residents in the future. a data analyst uses data to help the company make a more informed forecast. this is an example of which problem type?
The data analyst uses data to help the company make a more informed forecast. this is an example of Making predictions problem type.
A data analyst examines data to find significant insights about a company's customers and potential uses for the information in problem-solving. They also share this information with the company's management and other stakeholders. Modern businesses rely heavily on data analysts to reflect on their work and client base, determine how these aspects have affected profitability, and advise leadership on how to move forward and expand the company.
Making predictions based on historical and current data is the process of forecast. These might then be evaluated in light of what transpires. A business might, as an illustration, forecast its income for the upcoming year and then contrast it with the actual outcomes. Numerous fields where projections of future conditions are helpful can benefit from forecast.
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why is it important to consider the quality of the data used in analytical procedures? how important to this question are client controls over financial data?
It is important to consider the quality of the data used in analytical procedure for effectiveness.
Auditors must take into account the accessibility and accuracy of the data to be utilized in the development of their expectations before they can apply meaningful analytical processes.
For some statements, data may not be easily accessible to create expectations. Are there sufficient internal controls over the data if it was generated internally? To ascertain that the underlying data are comprehensive and correct, the auditors should examine the effectiveness of the controls over the data.
The effectiveness of data controls affects how dependable the data are. The process of ensuring that errors in analytical data are of a magnitude appropriate for the use to which the data will be put is known as quality control.
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how would a manager use economic theory to determine profit-maximizing price for a service or product?
According to economic theory, a service or product's profit can be maximized by operating or producing it up until the point at which marginal revenue equals marginal cost. Changes in fixed costs have no impact on maximizing profits from output or price since short-term fixed costs are considered sunk costs.
Numerous economic theories are based on this premise. It exists in both markets with monopolies and ideal competition. Profit depends on the equation profit = Total revenue - Total cost. As a result, a company optimizes profit when the first order, MR = MC, and the second order depend on the first order.
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suppose a firm is currently minimizing costs in the long run with marginal product of labor and marginal product of capital given by k and l, respectively. if the price of capital falls by 50%, the capital-to-labor ratio will:
If the price of capital falls by 50%, the capital-to-labor ratio will: Double
At optimal point,
MPK/MPL = Price of K/Price of L
Substitute the given information as:
L/K = r/w
K/L = w/r
When r decreases by 50%,
L'/K' = 0.5r/w
Or,
K'/L '= 2w/r
From above,
K'/L' = 2(K/L)
Thus, capital to labor ratio (K/L) will double as double of capital will now be used since its price has fallen by half.
Therefore, it doubles
What is capital-to-labor ratio ?
Capital to Labor ratio measures the ratio of capital employed to labour employed. The capital-labor ratio (K/L) can measure the capital intensity of a firm. The ratio of capital to labor ratio reflects changes in the labor productivity of company employees. Its increase indicates a positive trend.
Hence, If the price of capital falls by 50%, the capital-to-labor ratio will: Double
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special effort to recruit and hire qualified members of groups that have been discriminated against in the past is called
The affirmative action is to take special effort to recruit and hire qualified members of groups that have been discriminated against in the past.
Discrimination:
Discrimination refers the recognition and understanding of the difference between one thing and another.
Given,
Here we need to find the special effort to recruit and hire qualified members of groups that have been discriminated against in the past is called.
Basically, affirmative action involves sets of policies and practices within a government or organization seeking to include particular groups based on their gender, race, sexuality, creed or nationality in areas in which such groups are underrepresented - such as education and employment.
Therefore, the special effort to recruit and hire qualified members of groups that have been discriminated against in the past is called affirmative action.
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a company's sales in year 1 were $430,000 and in year 2 were $467,500. using year 1 as the base year, the percent change for year 2 compared to the base year is:
The percent change for year 2 compared to the base year is 9%
What is sales?A sale is a deal in which two or more parties exchange goods or services for cash or other assets.A sale in the financial markets is an arrangement involving the cost of a security and its delivery for agreed-upon payment between a buyer and a seller.A gift or donation is what is referred to as when an item or service is given from one party to another without any money changing hands.Sales are a significant component of the fundamental framework of commerce and happen around the clock, worldwide, in a variety of industries.A price cut made on a service or product in an effort to draw customers also qualifies as a sale.Calculation
The of percentage change for year 2 compared to base year
⇒[(year 2 sales – Base year sales)/ base year sales]*100
⇒[($467,500-$430,000)/$430,000]*100
⇒(37,500/$430,000)*100
⇒9%
Hence, The percent change for year 2 compared to the base year is 9%
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In developing a marketing strategy, the most important thing for a retailer to consider is.
The primary factor a shop must take into account when creating a marketing strategy is the motivations of its target market's consumers.
A marketing strategy is a long-term plan for achieving a company's goals through comprehending customer needs and creating a distinct, sustainable competitive advantage. It covers everything, from deciding which channels to use to getting in touch with your customers to learn more about them.
A marketing strategy, in simple terms, explains the goals of your business, including who your ideal clientele is and how you intend to interact with them. It is your plan for the marketing initiatives you will do over the coming months and years to grow your business.
The five Ps of marketing is included in the "marketing mix," as it is often called. Using a framework that stresses the five essential components of successful marketing—people, place, pricing, promotion, and product—brands employ a marketing mix to market their products and services.
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in performing an attest engagement, a cpa typically group of answer choices supplies litigation support services. assesses the risks of material misstatement. expresses a conclusion about a written assertion. provides management consulting advice.
In performing an attestation engagement, a CPA typically: expresses a conclusion about a written assertion.
Option C is correct.
What's the procedure for attestation?Attestation is the act of witnessing the signing of a regular document and also also subscribing it to corroborate that it was duly inked by those bound by its contents. Attestation is a legal acknowledgment of the factuality of a document and a verification that proper operations were followed.
What's included in an attestation engagement?An attest engagement is one in which a CPA in public practice( i.e., guru) is engaged to, or does, issue an examination/ inspection, review, compendium or agreed- upon procedures report on subject matter, or an assertion about subject matter, that's the responsibility of another party( generally operation).
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using passive voice reduces the number of words required to express an idea and thus saves the reader a little time.
Using passive voice reduces the number of words required to express an idea and thus saves the reader a little time, is a false statement.
Why is active voice preferable to passive voice in writing?
Using active voice for the majority of your sentences helps readers understand your meaning and keeps your sentences from becoming too complicated or wordy. Even in scientific writing, using the passive voice excessively can obscure the meaning of your sentences.
The passive voice has two major disadvantages: the meaning of the sentence may be obscured, or the sentence may become awkward. The use of the passive voice in the example, The plate was broken, prevents the reader from knowing who broke the plate.
Therefore, Passive voice frequently produces ambiguous, indirect, and wordy sentences, whereas active voice produces clearer, more concise sentences.
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which of the following features make stretch targets feasible? a.the targets are set at desired levels for 20 years to ensure long-term performance. b.the measures are linked by causal relationships. c.the targets are set in isolation by top management. d.the measures are based on currently attainable standard costs.
Option "D"
Business strategy addresses the strategic choices made regarding the selection of a product, a competitive advantage, customer happiness, etc. Therefore, any option is appropriate.
3.) The learning and growth approach does not rely heavily on customer attributes.
Option 'B', 4.
Theoretical Annual Capacity / Available Production Hours equals units per hour.
= 9,000 / 3,000
= 3 hours per unit
Actual Cost Per Unit / 3 Units Per Hour is the ideal conversion cost per unit.
= $11 per unit (33/3).
What is Theoretical Annual Capacity ?
The quantity of throughput that could be achieved if a production facility was able to operate continuously at its highest efficiency level is known as theoretical capacity. Since theoretical capacity is so difficult to achieve in practise, it shouldn't be used for planning or bonus compensation.
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When jason applied for a job as a heating and air conditioning technician, he was given a malfunctioning compressor and was asked to diagnose the problem. What type of selection tool does this represent?.
This is represented by the work sampling selection tool.
Work sampling tests require applicants to complete tasks or activities that are similar to those performed by employees on the job. Because work samples require applicants to perform tasks that are identical or very similar to tasks from the job, great care is taken to mimic the work environment as accurately as possible.
Work sample tests should only be used when applicants are expected to have the necessary competencies upon entry into the position. The work sample method may not be appropriate if training on how to perform the work activities will be provided after selection.
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pina company has the following cost information pertaining to their raw materials inventory account: - december 31, balance (ending) $32000 - material purchases $82000 - materials used during year $72000 what was the raw materials inventory balance on january 1 (beginning)? $22000
Pina company has the following cost information pertaining to their raw materials inventory account: - december 31, balance (ending) $32000 - material purchases $82000 - materials used during year $72000, the raw materials inventory balance on january 1 (beginning) is $22000
It is calculated as:
Direct material used = Opening inventory + Material purchases - Closing inventory
$72000 = Opening inventory + $82000 - $ 32000
$72000 + $32000 - $82000 = Opening inventory
$22000 = Opening inventory
Inventory on the first day of the financial year is known as Opening inventory.
Direct material used is the material which is used in production process in whole year.
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purchasing of services can be more challenging than purchasing of materials because: group of answer choices
Quality can be difficult to predict and measure ahead of time, purchasing services can be more challenging than purchasing materials.
How does procurement contribute to an organization's quality improvement?However, when implemented widely within an organization, procurement frequently results in increased efficiency and a better match with desired goods or services. A more efficient sourcing process will result in timely delivery of high-quality goods and services.
What aspect of the procurement process is the most crucial?One of the most significant sources of data in procurement is financial data. To enhance the procurement procedure, this data can be used to comprehend spending patterns and trends. Additionally, cost-cutting opportunities can be found using financial data.
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true or false: in business process reengineering, it is best to select the it system to be used prior to reengineering the processes to ensure the process fits the system.
The statement is False. reengineering the processes to ensure the process fits the system.
business manner re-engineering (BPR) is a commercial enterprise control method at the beginning pioneered in the early 1990s, focusing on the evaluation and design of workflows and commercial enterprise approaches within a company. BPR's goals are to help groups essentially reconsider how they do their paintings with the intention to enhance customer service, reduce operational charges, and emerge as a world-magnificence competition.
BPR seeks to help organizations extensively restructure their agencies by means of focusing on the floor-up layout of their business tactics. in step with early BPR proponent Thomas H. Davenport (1990), a business process is hard and fast of logically related obligations completed to attain a defined business outcome. Re-engineering emphasized a holistic awareness of business objectives and the way procedures related to them, encouraging the full-scale activity of tactics, in place of iterative optimization of sub-processes. BPR is inspired by the aid of technological innovations as industry players update vintage techniques of commercial enterprise operations with price-saving progressive technologies which include automation that may extensively transform business operations.
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if 80 percent of the population in a country is employed and average labor productivity equals $27,500, then real gdp per person equals
The real GDP per person is $22,000.
Real GDP per capita is a calculation of a nation's total economic output divided by its population and adjusted for inflation. It is employed to evaluate changes in and between nations' living standards.
For computing the real GDP per person, the following formula should be used which is shown below:
= Average labor productivity × share of population employees
where,
Average labor productivity is $27,500
And, the share of the population employees is 80%
Now put these values to the above formula,
So, the answer would be equal to
= $27,500 × 80%
= $22,000
Hence, the real GDP per person is $22,000.
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Start by setting aside money in your savings account for your goals and for emergencies. Then, fill in the other categories with your remaining money. Be sure to allocate all of your money, so you have $0 left. Everfi module 3 budgeting for wants
I tried but it wouldn't let me submit
The statement explains one of the ways to start a budget plan. The general rule is to divide your monthly after-tax income into three categories: 50% for needs, 30% for wants, and 20% for savings or debt repayment.
What are the seven steps in creating a budget?
7 Simple Steps to Creating a Budget
Step 1: Establish Realistic Goals.
Step 2: Calculate your income and expenses.
Step 3: Distinguish between needs and wants.
Step 4: Create Your Budget.
Step 5: Implement Your Strategy.
Step 6: Seasonal Expenses.
Step 7: Take a look ahead.
A budget plan is a graph that depicts the flow of money in your daily life. A budget can assist you in determining where you are overspending as well as in changing bad spending habits.
Therefore, You may be able to save more or make larger debt payments by making minor changes to your budget.
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