Answer:
Credit to cash $230
Explanation:
Preparation of the Journal entry for the reimbursement of the account of Spencer Co.
Based on the information given we were told that the company spent the amount of $51 for delivery expenses, the amount of $159 for merchandise inventory, and the amount of $20 for miscellaneous expenses from their petty cash fund at the end of the month, which means that the journal entry to record the reimbursement of the account will be:
Dr Delivery expenses $51
Dr Merchandise inventory $159
Dr Miscellaneous expenses $20
Cr Cash $230
(To record petty cash reimbursement)
Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
Answer: input control
Explanation:
From the question, we are informed that Coda Inc. is an apparel manufacturer and that the management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales.
We are further told that it allocates a budget to each function at the beginning of each quarter. This is an example of implementing input control.
Milner Developers proposed an offer to Henry Wright,an independent contractor,offering to hire him for their next project.They offered him a certain rate and specified the contract details along with describing the stipulated mode of acceptance but received no response.Wright responded to the offer after a delay of two months with a quote for a higher amount than that mentioned by Milner Developers.Do the two parties have a binding contract?
A) No,because the offer made by Milner Developers was ambiguous.
B) No,because Wright's letter was a counteroffer to the original offer.
C) Yes,because Milner Developers did receive a response from Wright.
D) Yes,because Wright's silent signaled his acceptance of the offer.
Answer: b. No, because Wright's letter was a counteroffer to the original offer.
Explanation:
Contract is issued based on a binding agreement between two parties, the employer and the employee. The employer gives the terms and conditions which embeds the allowances, while the employee receives the letter and is either expected to give a response there or after a specific period of time, the letter cannot be changed by the employee after delay but there could be negotion within the time frame given. Wright had to offence to be blamed for; 1) he delayed the response. 2) Requesting a higher amount after a long while.
What would happen in the market for loanable funds if the government were to decrease the tax on interest income for savers? Group of answer choices Interest rate would be unaffected The effect on the interest rate is uncertain Interest rates would fall Interest rates would rise
Answer:
The interest rate would be unaffected.
Explanation:
Option A, “Interest rate would be unaffected” is correct because, in a market for loanable funds, the government has decreased the tax rate on the amount of interest. At the same time, this will increase the interest-earning of consumers however the interest rate on the money will be unaffected. The intervention made by the government resulted in an increase in interest-earning. Moreover, a reduction in the tax rate will induce people to save more in order to earn more interest.
A landlord rented an apartment to a person with a wheelchair. The landlord allowed the tenant to install bath rails and replace the bathroom sink vanity with a pedestal sink with lever faucet handles; however, the landlord required the tenant to sign a restoration agreement that the accommodations would be restored to their former condition at the end of the lease. In addition, the landlord required the tenant to pay sufficient funds (over a period of time) into an escrow account to cover the bathroom restoration. Has the landlord violated the Fair Housing Act
Answer: No, the landlord can require a restoration agreement and the escrow account
Explanation:
The options to the question are:
A. No, the landlord can require a restoration agreement and the escrow account
B. Yes, the landlord cannot require the escrow account
C. Yes, the landlord cannot require restoration of the modifications
D. No, the landlord does not have to allow the tenant to make any of these modifications
The Fair Housing Act is a law that was put in place in order to curtail the discrimination towards home seekers and tenants by landlords. According to the act, every American should have a fair and equal opportunity regarding the place to reside without discrimination of any sort.
Based on the scenario that have been provided in the question, the landlord can require a restoration agreement and the escrow account.
7. Problems and Applications Q2 Indicate what happens to the unemployment rate and the labor-force participation rate in each of the following scenarios. Scenario Effect On... Unemployment Rate Labor-Force Participation Rate After a long search, Jon finds a job. Tyrion, a full-time college student, graduates and is immediately employed. After an unsuccessful job search, Arya gives up looking and retires. Daenerys quits her job to become a stay-at-home mom. Sansa has a birthday, becomes an adult, but has no interest in working. Jaime has a birthday, becomes an adult, and starts looking for a job. Cersei dies while enjoying retirement. Jorah dies working long hours at the office.
Answer:
The Unemployment rate refers to people in the economy who are actively looking for work but are jobless.
The Labor-force participation rate refers to the percentage of the working age population who are active in the workforce. This includes both employed and unemployed people as unemployed people are actively seeking jobs.
1. After a long search, Jon finds a job.
Unemployment rate - Decrease
Labor-force Participation rate - Same
2. Tyrion, a full-time college student, graduates and is immediately employed.
Unemployment rate - Decrease
Labor-force Participation rate - Increase
3. After an unsuccessful job search, Arya gives up looking and retires.
Unemployment rate - Decrease
Labor-force Participation rate - Decrease
4. Daenerys quits her job to become a stay-at-home mom.
Unemployment rate - Increase
Labor-force Participation rate - Decrease
5. Sansa has a birthday, becomes an adult, but has no interest in working.
Unemployment rate - Same
Labor-force Participation rate - Decreases
6. Jaime has a birthday, becomes an adult, and starts looking for a job.
Unemployment rate - Increase
Labor-force Participation rate - Increase
7. Cersei dies while enjoying retirement.
Unemployment rate - Same
Labor-force Participation rate - Increase
8. Jorah dies working long hours at the office.
Unemployment rate - Increases
Labor-force Participation rate - Decrease
Keith and his team,employees of an online retailing company,are being trained on cyber surveillance and user security.As part of their training,they are working to identify a solution to the problem of cyber-phishing and data breaches.Which of the following forms of group-building methods is being employed by Keith's team?A) Cross-learningB) Action learningC) Adventure learningD) Virtual realityE) Behavior modeling
Answer: Action learning
Explanation:
From the question, we are informed that Keith and his team, employees of an online retailing company, are being trained on cyber surveillance and user security and as part of their training, they are working to identify a solution to the problem of cyber-phishing and data breaches.
The method used is action learning. This means that the group will get an actual problem, solve it, plan and the results will be shown to the team and the organization.
In one of the cases in the textbook, Michael Weinstein was the head of Coated Sales, Inc., a company that coated fabrics for use in producing things like parachutes, helmet liners, and camouflage suits. By engaging in financial shenanigans, Coated Sales moved to the top of its industry, but ultimately the good times turned into bad times, and the company declared bankruptcy. What happened to Weinstein
Answer:
The remaining part of the question is:
What happened to Weinstein?
A. After the bankruptcy, he raised new capital and started another fabric coating company.
B. He was convicted, sentenced to prison, and ordered to make restitution.
C. He cooperated with the government and became an informant against his partners who had been siphoning cash off of government contracts.
D. He was placed on probation after reimbursing the shareholders with the profits he had made on investments in the stock market.
Correct Answer:
B. He was convicted, sentenced to prison, and ordered to make restitution.
Explanation:
As a result of the frauds which Michael Weinstein committed leading to the failure of the company, he was charged to court based on the evidence gathered. Later, he was found guilty by the court leading to him being jailed.
The XYZ Corporation's A-rated convertible debenture is currently selling for 90. If the bond's conversion price is $40, what is the parity price of the stock
Answer:
$36
Explanation:
Step 1
We find the number of shares the bond is convertible into. This means we find the conversion ratio.
Conversion ratio formula =
Par value/ Bond conversion price
Par value = $1,000
Bond conversion price = 25
Conversion ratio = $1,000/25
= 40 shares.
Step 2
The parity price of the stock is calculated as:
Rate of the convertible debenture (in dollars/ Conversion ratio
In the above question, rate of convertible debenture = 90
converting to dollars = 90 × $10
= $900
Conversion ratio = 40 shares
Parity price of stock = $900/40 shares
= $36
At the Blue Restaurants Corporation, an employee survey reports that efforts to increase worker satisfaction by redesigning jobs led to greater job satisfaction. The human resource department also measured lower rates of absenteeism and employee turnover. What will be the most likely impact of these trends on the profits of Blue Restaurants
Answer:
lower costs, leading to higher profits
Explanation:
Improving job satisfaction in the workplace results in better productivity. This is because employees get to enjoy what they do rather than feeling forced to work.
When the workplace is conducive it will result in lower rates of absenteeism and employee turnover.
These in turn lead to lower costs and higher profit.
Staff turnover is costly on the business as new hires have to be trained on the job to be effective.
_______________________ the failure rate for businesses in the Amish community hovers around 5 percent.
(A) Unlike mainstream American businesses, more than half of which fail
(B) Unlike mainstream American businesses, in which the failure rate is more than half
(C) Unlike mainstream American businesses, where more than half of them fail
(D) While the rate of mainstream American businesses failing is more than half
(E) While more than half of mainstream American businesses fail
Answer:
(D) While the rate of mainstream American businesses failing is more than half
Explanation:
i think im not so sure
Answer:
Yeah its D
Explanation:
It was the third meeting, but the group had finally agreed on the roles for each member. Cathy felt good about how things were progressing. It seemed that the conflicts had been resolved; Bella and Lewis had actually arrived on time with their tasks completed. Cathy felt they were now a team. They were now in the ________ stage.
Answer: norming
Explanation:
The third stage of a group development model is regarded to as the norming stage. The norming stage is the stage whereby members or teammates start appreciating the strengths that are possessed by each other in the team.
At this stage, there is resolution of conflicts and establishment of leadership positions. Here, everyone is happy with their roles.
For February, sales revenue is $900,000, sales commissions are 5% of sales, the sales manager's salary is $96,000, advertising expenses are $80,000, shipping expenses total 2% of sales, and miscellaneous selling expenses are $2,100 plus 1/2 of 1% of sales. Total selling expenses for the month of February are
Answer:
$245,600
Explanation:
The computation of Total selling expenses is shown below:-
Particulars Calculation Amount
Sales Commissions ($900,000 × 5%) $45,000
Salary expenses $96,000
Advertising expenses $80,000
Shipping expenses ($900,000 × 2%) $18,000
Miscellaneous selling
expenses ($2,100 + 1 ÷ 2 × $6,600
($900,000 × 1%)
Total Sales expenses $245,600
We simply added all the items
A method of identifying the legal description of a property is known as what...? Lot and Block Lot Number ACRIS Property Description
Answer:
Lot and Block
Explanation:
The lot and block survey system is a method often used in Real Estate, that gives a legal description used to identify lands or property in subdivided areas and cities. It is otherwise referred to as a recorded plat survey system or the recorded map survey system. It is extensively used in the United States and Canada.
Hence, the right answer to the question is LOT and BLOCK
An account related with another account on the financial statements that 1) directly reduces the related account and 2) has an opposite normal balance than the related account, is a(n) Multiple Choice Permanent account Temporary account Contra account.
Answer:
Contra account.
Explanation:
A contra account is an account that has an opposite of what is the normal balance for the class of such an account. a company would be able to report the original amount and in so doing also be able to report the reduction and then what is the net amount would be reported. in other words such an account is used to reduce the value of another related account. And thereafter the net value is what is going to be reported.
Which of the following is true of a corporation? Group of answer choices A corporation is owned by partners who have founded the business and have the right to manage it. A corporation does not have a life separate from its owners and its managers. A corporation has the ability to attract capital, more than the limited partnership. A corporation is not a tax-paying entity for federal income tax purposes.
Answer:
A corporation has the ability to attract capital more than the limited partnership
Explanation:
Corporation is defined as a group of people or company that come together to operate a business as a single entity with the approval of the government through incorporation.
Being a legal entity on its own , ownership is separated from the owners as the business itself can be held legally liable and it also pay income tax on the profits.
One of the advantages of corporation over the other forms of business is the ability to attract capital through issuing of share stocks , which form the basis of the size of ownership of each member.
state 2 reasons that lead to foreign trade.plz answer asap!!!
For imports:
You import when there is lack of production in your own country
or when another country offers a cheaper price and/or better quality good than your own country's industry
for exports:
production surplus.
A greenfield venture in a foreign market is A. one where the company creates a subsidiary business by setting up all aspects of the operation upon entering the market from the ground up. B. one where foreign facilities and marketing strategies are shared withlocal businesses. C. one where the company learns through training by the foreign entity on how to compete. D. one that supports exports into a foreign market by marketing indirectly thru local rivals. E. one that offers lower risk and a faster path to returns by building in rural areas.
Answer:
A. one where the company creates a subsidiary business by setting up all aspects of the operation upon entering the market from the ground up.
Explanation:
Greenfield Investment is one of the types of foreign direct investment. In this type of investment, new branches of a company are created in different countries. The operational team functions from the parent company. The parent companies have full control over the functioning, control, and quality of the subsidiary companies. The employees are provided with the training of the standard level as proposed by the parent company.
A broker received conflicting demands from the buyer and the seller for the earnest money deposit. The broker unsuccessfully attempted to resolve the issue between the parties to the contract. Fourteen business days later, the broker notified the Florida Real Estate Commission (FREC) of the conflict. How many remaining business days does the broker have to implement a settlement procedure
Answer is 16 Days (16 business day remain)
Within 30 business days after receiving the competing demands, the broker must initiate one of the four settlement procedures.
14 days after the claim was made, the brokers reported the contradictory requests.Thirty days subtracting fourteen days = sixteen business days to perform one of the settlement processes.Learn more:
https://brainly.com/question/1213468?referrer=searchResults
Balancing life in college will require paying attention to which aspects of your life in order
to reach long and short term goals?
Finances, social life, academics and personal life
Class time and study time,
Managing your weight while dealing with cooking or meal plan.
Paying attention only to your social life can lead to career opportunities,
Answer:
finance , social life , academics and personal life
Integrated marketing communications: Group of answer choices provide an approach to deliver one consistent message. budget the promotional efforts related to a product. measure the number of people exposed to a message. measure how often people are exposed to a message. measure how receivers interpret messages.
Answer:
provide an approach to deliver one consistent message
Explanation:
Integrated marketing communications is a concept in which a company tries to make sure that all the forms of communications that are used are integrated to help one another and maintain a consistent message through the different channels used. According to this, the answer is that integrated marketing communications provide an approach to deliver one consistent message because the idea of this concept is that the company integrates all the forms of communications used to have a cohesive message to reach its target market.
Hawkins Poultry Farms is considering the purchase of feeding equipment that costs $139,000 and will produce annual cash flows of approximately $36,000 for five years. The equipment is expected to be sold at the end of five years for $40,000. What is the net present value of the proposed investment
Answer:
NPV = $1,564.65
Explanation:
Here is the full question :
Hawkins Poultry Farms is considering the purchase of feeding equipment that costs $139,000 and will produce annual cash flows of approximately $36,000 for five years. The equipment is expected to be sold at the end of five years for $40,000.
What is the net present value of the proposed investment? Hawkins requires a 15 percent return on all capital investments
Net present value is the present value of after tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-139,000
Cash flow each year from year 1 to 4 = $36,000
Cash flow in year 5 = $36,000 + $40,000 = $76,000.
i = 15%
NPV = $1,564.65
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
South Korea has developed amazingly, with huge corporations making vast amounts of money and giving everyone there a high standard of living, while the vast majority of people in the Central American nation of Guatemala are plagued by extreme poverty, violence, and poor living conditions. This is an example of:
Answer: Uneven Development
Explanation:
South Korea is one of the success stories of the last century. After the Korean War devastated large parts of the Korean peninsula, foreign aid poured in and the people embraced development fully. This led to the development of large corporations such as Samsung making vast amounts of money and giving everyone there a high standard of living.
Guatemala on the other hand has been ravaged by poverty and poor living conditions for a long time resulting from a bloody civil war that lasted for decades. This led to gangs been formed to compete for resources as well as illegal activities being carried out such as drug trafficking. This only made things worse.
These are 2 countries are a prime example of how countries in the world are experiencing Uneven Development. How in one nation the standards of living are high and people are safer but on the same planet and in another nation people are living in abject poverty and fearing constantly for their lives.
A company purchased a computer system at a cost of $34,000. The estimated useful life is 8 years, and the estimated residual value is $9,000. Assuming the company uses the double-declining-balance method, what is the depreciation expense for the second year
Answer:
Year 2= $4,687.5
Explanation:
Giving the following information:
Purchase price= $34,000
Useful life= 8 years
Salvage value= $9,000
To calculate the depreciation expense under the double-declining-balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Year 1= [(34,000 - 9,000)/8]*2= $6,250
Year 2= [(25,000 - 6,250)/8]*2= $4,687.5
In Lurnee, it takes 10 resources to produce 1 ton of cocoa and 13.5 resources to produce 1 ton of rice. In South Tyberg, it takes 40 resources to produce 1 ton of cocoa and 20 resources to produce 1 ton of rice. Lurnee has a comparative advantage over South Tyberg in cocoa. This follows the theory of comparative advantage, and we can say that engaging in free trade benefits all countries that participate in it; however, this conclusion stems from which of these inaccurate assumptions?
A. We have assumed that agrarian nations do not specialize in producing particular products.
B. We have assumed the prices of resources and exchange rates in the two countries are dynamic.
C. We have assumed diminishing returns to specialization.
D. We have assumed constant returns to scale.
E. We have assumed there are barriers to the movement of resources from the production of one good to another within the same country.
Answer: We have assumed constant returns to scale.
Explanation:
Comparative advantage simply stated that an economy should produce the goods whereby the said economy has a lower opportunity cost than its counterpart.
Based on the analysis in the question, the inaccurate assumption is that we have assumed constant returns to scale. This means that an increase in the inputs such as capital and labour which are used in producction will also cause an identical increase in output. In reality, this isn't always true.
A real estate licensee specializes in helping both buyers and sellers with the necessary paperwork involved in transferring property. Although not an agent of either party, the real estate licensee may not disclose either party's confidential information to the other. The real estate licensee is BEST described as
Answer:
Transactional broker
Explanation:
Transaction brokers are real estate professionals that offers their services to buyers and sellers, also are called facilitators.
They act in a neutral capacity as they are not agents of the buyer and seller. Instead they act as mediators between the two when transaction is taking place.
Not all states allow such non-agency practices of transaction brokers.
Transaction brokers usually handle details like preparing an offer, determine market price, and writing of contract to buy or sell. They do not get involved in negotiations
Kaylee’s customers seem to be buying less of her freshly baked breads and more of her yogurt parfaits and coffees. She begins to ask customers at the checkout why they made their selection. She learns that many of her customers are choosing a gluten-free diet. She changes her breads and now is selling gluten-free breads and most days sells out. Kaylee used
Answer:
The question is incomplete, below is the complete question:
Kaylee's customers seem to be buying less of her freshly baked bread and more of her yoghurt parfaits and coffees. She begins to ask customers at the checkout why they made their selection. She learns that many of her customers are choosing a gluten-free diet. She changes her bread and now is selling gluten-free bread and most days sells out. Kaylee used A) feedback. B) input. C) output. D) a transformational process. E) complexity theory.
Answer:
The correct answer is:
feedback (A)
Explanation:
In a transformational process flow of a business, feedback refers to using information gathered from internal and external sources, to determine the adjustments of certain inputs, leading to a transformational process that produces the desired output. Internal sources of feedback include testing and evaluation, while external feedback sources include consumers or suppliers
roker Bill takes his broker course and passes it. He applies and receives his license on time. He pays all the appropriate fees and he begins his work. (He does not have a four-year degree in real estate.) He is not sure which course or courses he must take to renew his license the first time. What must Broker Bill do?
Answer: Broker Bill must complete the two 30 hour courses which will be equal to 60 hours post license course
Explanation:
From the question, we are informed that Bill takes his broker course and passes it and that he applies and receives his license on time and then pays all the appropriate fees and he begins his work even though he does not have a four-year degree in real estate.
We are further told that he is not sure which course or courses he must take to renew his license the first time. Broker Bill must complete the two 30 hour courses which will be equal to 60 hours post license course
There are two ways to calculate the expected return of a portfolio: Either calculate the expected return using the value and dividend stream of the portfolio as a whole, or calculate the weighted average of the expected returns of the individual stocks that make up the portfolio. Which return is higher? (Select the best choice below.) A. The weighted average expected return of the individual stocks is higher because returns are concave. B. Impossible to tell, it depends on the portfolio. C. Neitherboth calculations give the same answer. D. The weighted average expected return of the individual stocks is higher because returns are convex.
Answer:
Correct Answer:
C. Neither, both calculations give the same answer.
Explanation:
In any given business calculation that is expected to arrive at a particular solution, the solution obtained would always be the same irrespective of the method adopted. For the example, the case of expected return of a portfolio in a business, the calculation would definitely give the same answer when two methods are adopted.
The occurrence that most likely would have no effect on current year net income is the Group of answer choices sale in current year of an office building contributed by a stockholder in 45 years ago. collection in current year of a dividend from an investment. correction of an error in the financial statements of a prior period discovered subsequent to their issuance. stock purchased 14 years ago deemed worthless in the current year.
Answer:
Correction of an error in the financial statements of a prior period that was discovered before issuance.
Explanation:
A prior period adjustment is the correction of an accounting error that occurred in the past and was recorded on a prior year financial statements which is corrected by adjusting the carrying amount of the impacted assets and liabilities as of the first accounting period reported , with an offset to the beginning retained earning balance in that same period
The retrospective correction of prior period error as described above does not affect the current period figures but only the prior period comparative figures.
On December 1, 20X1, Tigg Mortgage Co. gave Pod Corp. a $200,000, 12% loan. Pod received proceeds of $194,000 after the deduction of a $6,000 nonrefundable loan origination fee. Principal and interest are due in 60 monthly installments of $4,450, beginning January 1, 20X2. The repayments yield an effective interest rate of 12% at a present value of $200,000 and 13.4% at a present value of $194,000. What amount of accrued interest receivable should Tigg include in its December 31, 20X1, balance sheet
Answer:
$2,000
Explanation:
Accrued interests = loan principal x interest rate x time = $200,000 x 12% x 1/12 (1 month) = $2,000
The adjusting journal entry to record accrued interests should be:
December 31, 20x1, accrued interest receivable
Dr Interest receivable 2,000
Cr Interest revenue 2,000
Interest receivable is an asset account with a normal debit balance.
Answer:
$2,000
Explanation:
Present value of loan = $200,000
Interest rate = 12%
Therefore, the accrued interest receivable can be calculated using the simple interest formula :
Where the present value of the loan is the principal amount,
Accrued interest = principal * rate * time
Since the period is between December 1st to 31 st December = 1 month = (1/12) years
Accrued interest = $200,000 * (1/12) * 12%
Accrued interest = $200,000 * 0.083333 * 0.12
Accrued interest = $2000