The correct adjustment entry will be:
Prepaid Rent Dr. 900
To Rent Expense 900
An adjustment entry is one that is created to properly allocate each accounting period's income and expense amounts.
In order to ensure that the financial accounts at the end of the year are correct and current, it updates previously recorded journal entries. The matching principle is a requirement in accounting that you must follow. According to the matching principle, revenue is recognized when it is earned and costs are recognized when they are incurred.
Making adjusting entries allows you to correctly and timely record company transactions. But only the accrual basis of accounting is covered by this theory. Adjusting entries are not necessary if your company uses the cash basis technique.
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As a manager, what type of skill would you need to use if you had to decide if falling sales were a result of a faulty product or an ineffective marketing plan?
Inspire employees and clarify their vision. Find new and innovative ways to produce and deliver goods and services.
The main function of front-line managers is to oversee departments and employees. According to Lumen Learning, they are responsible for ensuring that the team achieves the goals of the organization.
Conceptual skill. These skills represent the manager's ability to organize and analyze information to improve the performance of the organization. This includes the ability to see the entire organization and understand how the different parts combine to act as an integrated unit.
Human skills are the ability to understand, change, guide, and control the behavior of other individuals and groups, and the ability to communicate, coordinate and motivate people in a cohesive team.
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A manager asks a chef to continue cooking chicken breasts after seeing them cooked to an incorrect temperature. This is an example of which step in active managerial control?
The action where the manager asks the chef to cook the chicken breasts again is what is called corrective action.
What is corrective action?This is an action that has to be carried out as a way of taking care of something that has not being done in the way that it should have been done. It is the way of getting people to take care of their mistakes.
The manager wants the chef to take care of her mistakes this was the reason why he has asked her to re cook the because the temperature was not right.
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Demand for movie rentals is highly elastic. A video store that raises the price of a rental will Group of answer choices lose revenue. possibly gain or lose revenue. gain revenue. see no change in revenue.
It will lose revenue
What is the relation between elastic demand and price change?
An elastic demand responds proportionately to changes in price and is present in products or services that have substitutes.
It implies that if a good's price goes up, less people will want it. The opposite is also true; if the price drops, the demand will increase.
On the other side, elasticity describes the effect of prices on consumer demand for goods, and there are a number of important elements that affect this relationship:
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Need help ASAP! Tyyyyyy
This is a question on Entrepreneurship. The two sectors where Mama Meals plays are:
Yes. Business plans are essential for laying out the long-term goals of a business.
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The calculation for ________ considers a customer’s product or service usage rate, their loyalty to the company, and the firm’s cost to serve that customer over time.
The calculation for customer lifetime value considers a customer’s product or service usage rate, their loyalty to the company, and the firm’s cost to serve that customer over time.
Customer lifetime value (CLV), commonly referred to as lifetime value (LTV), is the profit margin which is expected by the company to earn over the lifetime of their business relationship with the average customer.
In order to calculate customer lifetime value, first of all calculate the lifetime value by multiplying the average value of the sales, the average number of transactions, and the average customer retention period followed by the company.
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When the price of pistachio nuts is $7.50 per lb. the quantity demanded is 48 lbs. When the price of pistachios is $9.00 per lb. the quantity demanded is 40 lbs. When the midpoint formula is used to measure the price elasticity of demand we can say that the demand for pistachio nuts is
Unit-elastic
The amount required is 48 pounds while the price of pistachio nuts is $7.50 per lb. The amount needed is 40 pounds when pistachios cost $9.00 per lb. We can state that the demand for pistachio nuts is Unit elastic when the midpoint formula is applied to calculate the price elasticity of demand.
Unit Elastic - The economic theory known as unit elastic demand holds that when a product's price changes, the quantity desired also changes in an equal and proportional manner. In other words, the percentage change in price and the percentage change in demand for the product are equal. Consider the elastic demand on a basis of units per unit.
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Refer to Table 17-4. If this market were perfectly competitive instead of oligopolistic, what would the price be
If the market were perfectly competitive instead of oligopolistic, the price would be equal to 10.
What are the 4 types of markets?
Four different market structures are recognized by economists: oligopoly, perfect competition, pure monopolies, and monopolistic competition.
How the prices are determined in different markets?
Demand and supply are interdependent, and this relationship determines market pricing. Demand and supply forces are balanced at an equilibrium price. Prices have a propensity to return to this equilibrium unless certain demand or supply characteristics alter.
What is the definition of supply and demand?
Demand is the number of customers that are able and willing to purchase goods period price points throughout a specific period.A basic economic notion called supply refers to the total amount of a particular commodity or service that is made available to consumers.Learn more about supply and demand: https://brainly.com/question/13353440
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Which method would interest groups most likely use to help shape public policy? enacting regulations to enforce their goals hiring lobbyists who can sway legislators’ opinions implementing a plan from a party’s platform evaluating the success of a new policy
The method that the interest groups need to use to help shape public policy is by enacting regulations to enforce their goals.
What does enacting laws implies?To enact a regulation means that a person or a group set up a legal and authoritative act or they made their goals into law.
Therefore, The method that the interest groups need to use to help shape public policy is by enacting regulations to enforce their goals.
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Answer:
A. enacting regulations to enforce their goals
Explanation:
Right on ED2022!
Odina signs a covenant not to compete with her employer, penultimate sales corporation. a court decides that the covenant is overly restrictive. the court will likely:________
Odina signs a covenant not to compete with her employer, penultimate sales corporation. a court decides that the covenant is overly restrictive. the court will likely: restrict Odina for only a period of time.
What is a covenant not to compete?
This is the covenant that is made by two parties that would have them or one of them agreeing not to compete with the other in terms of the business that is of interest.
The goal is that the other person would not have to compete with the other in a given area over a certain or a definite time period where the other is carrying out their business.
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Parker Lane Cafe has a quick ratio of 4:1, $160,000 in cash, $380,000 in inventory, and $40,000 in accounts receivable. What are its current liabilities
Based on Parker Lane Cafe's quick ratio and its receivables, the current liabilities would be $50,000.
What is the quick ratio?The quick ratio shows the ratio of current assets excluding inventory, to the current liabilities.
The current assets excluding inventory is:
= 160,000 + 40,000
= $200,000
The current liabilities are:
= 200,000 / 4
= $50,000
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A manufacturer that only allows a consumer to purchase one product if they also buy another product is using ____________ to increase its profits.
Tie-in-sale is used to increase the profit by a manufacturer by allowing a consumer to purchase one product if they also buy another product.
What is Tie-in-sale?A tie-in-sale results from a contract between a producer and a consumer that states that the customer can only get the desired good (the tying good) if he also agrees to buy another good (the tied good) from the producer.
The sale of a product to a buyer with the explicit requirement that a second product be purchased as well.
The second item could not be desired by the consumer or she might be able to find it cheaper elsewhere. Tie-in-sale that impede competition are prohibited.
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_____ occurs when a sample, in some ways, is not representative of the target population.
Sampling error occurs when a sample, in some ways, is not representative of the target population. A sampling error is a statistical error that occurs when an analyst fails to choose a sample that accurately represents the entire population of data. As a result, the sample results do not correspond to the results obtained from the entire population.
Sampling is a type of analysis that involves selecting a subset of observations from a larger population. The selection method can result in both sampling and non-sampling errors. Sampling is a type of analysis that involves selecting a subset of observations from a larger population.
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How does the use of new technology in industry benefit producers more so than consumers?
The use of new technology in industry has benefited producers more so than consumers as, "Producers can transport goods around the world."
With faster decision-making and quick responses, the new technology enables producers to become more competitive in the market. The technology is helping to increase the efficiency of systems, products and services.
With the help of technology, the products which are produced are being marketed and then they are being transported around the world. This way it enables the business to grow rapidly and increases the profits.
Through the use of technology, businesses can research the market. This is extremely useful as it provides businesses with in-depth knowledge about market conditions.
Hence, the use of new technology in industry has benefited producers more so than consumers.
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When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n):______
When a company has its sales forecasts prepared by management consultants, economists, or college professors, it is using a(n): expert forecasting survey.
A survey is a survey method that collects data from a predefined group of respondents to provide information and insights on a variety of topics of interest. They have multiple purposes, and researchers can implement them in different ways, depending on the methodology chosen and the purpose of the study.
Surveys are used to collect or generate insights in areas such as social surveys and demographics. Research studies are often used to assess thoughts, opinions, and emotions. The survey can be specific and limited, or it can set more global and broader goals. types of surveys and their usage. Most studies fall into three different categories: exploratory, descriptive, and causal. In the world of online research, mastering all three will give you more informed insights and higher quality information.
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As the balance in the accumulated depreciation increases, total assets because accumulated depreciation is a(n) __________ account.
As the balance in the accumulated depreciation increases, total assets because accumulated depreciation is a cumulative account.
Accumulated depreciation is that total amount upto which an asset has been depreciated up until a single point.
In each period, the depreciation expense is recorded in period in which it is added to the accumulated depreciation balance at the beginning. An asset's carrying value on the balance sheet is obtained by deducting historical cost from accumulated depreciation. At the end of an asset's useful life, carrying value of the asset on the balance sheet will match salvage value of asset.
Accumulated depreciation is shown on the balance sheet below the line of related capitalized assets. The accumulated depreciation balance keeps on increasing over time by adding the amount of depreciation expense recorded in each current period.
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David, a real estate broker representing the seller, received an offer on his client's property for $450,000, $50,000 below the asking price. However, the prospective buyer told David that he is capable and willing to offer up to $525,000. According to David's fiduciary duties to his client, what should he tell the client...
The client should be told that the potential buyer is prepared to pay $25,000 more than the asking price. This is further explained below.
What is a real estate broker?Generally, Real estate brokers are real estate agents who successfully complete additional schooling requirements and get a state real estate broker license.
In conclusion, Informing the customer that a buyer is willing to pay $25,000 more than the asking price is appropriate.
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International trade is fundamentally a?
International trade is fundamentally a win win situation.
What is international trade?International trade is the process by which goods and services are traded between countries. People and countries have access to goods and services that are either unavailable or more expensive domestically because to global trade.
The exchange of money, goods, and services across international boundaries or regions is a result of a need or desire for certain commodities or services. The bulk of countries' gross domestic products benefit greatly from this trade.
The most common types of trade restrictions are tariffs, quotas, and nontariff barriers. In international trade, a tariff is an import tax imposed by the federal government that raises the price of the good for the customer. Often referred to as fees or import duties, tariffs usually begin by placing restrictions on certain goods.
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The chair of the board of the local historical association chose the bank where the organization keeps its money; however, the office manager is the primary person who makes deposits, writes checks, and balances the account every month. The office manager is the ________ in the buying center for the bank account.
The office manager is the account holder's user in the banking center.
What does an office manager do?Maintains office services by planning office operations and procedures, creating file systems, handling mail, preparing payroll, arranging office operations and procedures, and allocating and supervising clerical tasks.
Which three main bank accounts are there?The most typical kinds of bank accounts are as follows:
examining accounts. accounts for savings. accounting for money markets (MMAs)What is the finest kind of bank account?As it offers the benefits of both liquidity and interest, this is regarded as the greatest way to save your money. There are various sorts of savings accounts, including ones specifically designed for children, women, elderly, as well as lifestyle and usage savings accounts.
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In the short run, a purely competitive firm can maximize its economic profit (or minimize its loss) by adjusting its
The purely competitive firm can maximize its economic profit (or minimize its loss) only by adjusting its output.
Can a purely competitive firm earn economic profit in the short run?
Businesses can only make money or lose money in a market that is perfectly competitive in the near term. Profits and losses are ultimately eliminated because an endless number of businesses produce uniform, infinitely divisible items.
When should a purely competitive firm produce in the short run?
If a corporation is purely competitive and its total revenue is more than its entire variable costs, it should produce in the near term. If P > ATC, a purely competitive firm will always turn a short-term economic profit.
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A $1500 check written for supplies was journalized and posted as $150. the entry to correct this error is:_________
A $1500 check written for supplies was journalized and posted as $150. the entry to correct this error is debit equipped $1350, credit cash $1350.
Supply is the amount of resources that firms, producers, workers, providers of financial assets, or other economic agents are willing to offer to markets or individuals. Supplies can be products, labor, raw materials, or other rare or valuable items.
Supply is the basic economic term for the total amount of a particular good or service available to consumers. Supply can refer to the quantity available at a particular price or the quantity available across the price range displayed on the chart.
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When there is a serious concern, providers should urge the consumer file a recipient right complaint instead of a grievance. a. true b. false
It is a false statement that providers should urge the consumer to file a recipient right complaint instead of a grievance.
What is a recipient right complaint?These are imminent complaint that can occur when someone believe that their rights has been violated and may use such form to make a complaint.
In practice, the right complaint often follow a procedure that addresses communications submitted by individuals, groups or non-governmental organizations that claim to be victims of human rights
These recipient right complaint are reviewed by a rights officer/advisor who will conduct an investigation to know who is guilty.
Because the consequence of a right complaint could be gravely, then, it should be prevented, thus, It is a false statement that providers should urge the consumer to file a recipient right complaint instead of a grievance.
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How have the top ten countries of birth for naturalized u. S. Citizens changed from 2008 to 2017?.
Jacoby Company received an offer from an exporter for 21,300 units of product at $17 per unit. The acceptance of the offer will not affect normal production or domestic sales prices. The following data are available: Domestic unit sales price $25 Unit manufacturing costs: Variable 13 Fixed 3 The differential revenue from the acceptance of the offer is a.$532,500 b.$894,600 c.$362,100 d.$170,400
Option d.$170,400 is the corect option.
Incremental Net income
Increamental Revenue $4,52,800
(28,300 X $ 16 Per unit)
Less: Variable Costs $3,11,300
(28,300 X $ 11 Per unit)
Less: Fixed Cost (Not taken because does not affect this due to accepting special orders) = $0
Total Net Revenue $170,400
Answer = d.$170,400
To determine the unit price of a product, you first need to calculate the total manufacturing cost of all items manufactured in a particular time period. Then divide the estimate by the number of items. The final number is the manufacturing cost of one unit.
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Ford Motor Company builds a glass windshield plant in Mexico and the windshields will be used in its automobile plants in the United States. This action could be considered to be
Ford Motor Company builds a glass windshield plant in Mexico and the windshields will be used in its automobile plants in the United States. This action could be considered to be a greenfield and vertical investment
Glass windshield
Because they are difficult to break or shatter, the windshield is regarded as one of the safest types. Laminated glass is typically used for car windshields. When a parent business establishes a subsidiary in another nation and starts up activities there, this sort of foreign direct investment is known as a "green-field" venture. With regards to constructing new factories or manufacturing facilities, green-field investments come with increased risks and expenses.
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In a process costing system, the application of factory overhead usually would be recorded as an increase in: (CPA adapted)
In a process costing system, the application of factory overhead usually would be recorded as an increase in (CPA adapted) Finished goods inventory control.
What is process costing system?
A process costing system serves as a method that manufacturing industry usually used in determining the total production cost for each unit of product.
Hence, In a process costing system, the application of factory overhead usually would be recorded as an increase in (CPA adapted) Finished goods inventory control.
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Each year banks typically offer a wide range of ____________ comprised of ______________________from a variety of different companies. Group of answer choices index funds; guaranteed equity investments mutual funds; a range of stocks index funds; capital gains from trading stocks mutual funds; a range of stocks or bonds
mutual funds; a range of stocks or bonds
Each year banks typically offer a wide range of mutual funds comprised of a range of stocks or bonds from a variety of different companies.
What are mutual funds?An investment vehicle called a mutual fund combines shareholder money to buy securities including stocks, bonds, money market instruments, and other assets. Professional money managers run mutual funds. They distribute the assets of the fund and work to increase investors' capital gains or income. The investing objectives outlined in a mutual fund's prospectus are reflected in the portfolio's structure and upkeep.
Mutual funds provide access to professionally managed portfolios of stocks, bonds, and other securities for small or individual investors. Therefore, the profits or losses of the fund are shared proportionally by each shareholder. Mutual funds invest in a huge variety of assets, and their performance is typically measured as a change in the fund's overall market value, which is determined by summing the performance of the underlying investments.
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Given that many new businesses fail in the first few years after they are established, how should an entrepreneur think about the risk of failure associated with a new business? From what you have learned in this chapter, what can an entrepreneur do to increase the chance of success?
Businesses Fail by Entrepreneur - You start your business for the wrong reasons
There’s No Market or Too Small of a Market
Poor Management
Insufficient Capital
The Wrong Location
Lack of Planning
An entrepreneur can do these things to increase the chance of success Study the competition
Conserve cash no matter how good business is
Research new products and services
Don't tackle huge markets at first
Listen to customer feedback and adapt
Make proper strategy
Target the Customers Your Competitors Leave Behind
Invest in Learning New Skills
Stay Positive
Create a Budget and Stick to It
Focus on Sustainable Growth
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An initial investment of $930 is appreciated for 19 years in an account that earns 6% interest, compounded continuously. Find the amount of money in the account at the end of the period.
The amount of money in the account at the end of the period will be $2907.89.
What is the investment?The dedication of an asset to achieve a gain in value through time is referred to as an investment. Investment necessitates the sacrifice of a current item, such as time, money, or effort.The goal of investing in finance is to earn a return on the invested asset. A gain (profit) or loss realized through the sale of a property or investment, unrealized capital appreciation (or depreciation), or investment income such as dividends, interest, or rental income, or a mix of capital gain and income, may constitute the return.To find the amount of money in the account at the end of the period:Step 1: Define
Identify variables
P = 930
t = 19
r = 6% = 0.06
Step 2: Find Interest
Substitute in variables [Compounded Continuously Formula]: [tex]A=930e^{} ^{19*0.06}[/tex]
[Exponents] Multiply:
[tex]A=930e^{1.14}[/tex]
Evaluate exponents:
[tex]A=930(3.12677)[/tex]
Multiply:
[tex]A=2907.89[/tex]
Therefore, the amount of money in the account at the end of the period will be $2907.89.
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A financial model that measures the current value of all cash inflows and outflows of a project using management's minimum desired rate of return is known as the _________ model.
When a company uses a financial model that looks at the current value of cash inflows and outflows using a desired rate of return, this is the Net Present Value.
What is the Net Present Value?This is a method of checking the profitability of a project by checking just how much a project brings in over its costs.
The cash inflows and outflows are therefore compared at their present value which involves discounting at a minimum desired rate of return.
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A tax that imposes a small excess burden relative to the tax revenue that it raises is.
A tax that imposes a small excess burden relative to the tax revenue that it raises is an efficient tax.
What Exactly Is Tax Efficiency?The least amount of taxes that are legally required to be paid by a person or a corporation is known as tax efficiency. When a financial choice results in a lower tax bill than a competing financial structure that serves the same purpose, the choice is said to be more tax-efficient.
Tax-Advantaged Mutual Fund
Another approach to lower tax obligations is to invest in a tax-efficient mutual fund, particularly for taxpayers without access to a tax-deferred or tax-free account. In comparison to other mutual funds, a tax-efficient mutual fund is taxed at a reduced rate. Compared to the standard mutual fund, these funds often produce lower rates of returns through dividends or capital gains.
Mutual funds that provide little to no interest income or dividends include small-cap stock funds and passively managed ones, including exchange-traded funds (ETFs) and index funds.
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