1. Identify the nature of each of the transactions (a) through (f). Specifically, what activities cause the accounts to increase and decrease?
Answers
Each of the transactions listed in the question affects different accounts in different ways. Here is a breakdown of the nature of each transaction and how it affects the accounts:
(a) Purchase of equipment for cash: This transaction causes the Equipment account to increase and the Cash account to decrease.
(b) Payment of wages: This transaction causes the Wages Expense account to increase and the Cash account to decrease.
(c) Collection of accounts receivable: This transaction causes the Cash account to increase and the Accounts Receivable account to decrease.
(d) Sale of merchandise on account: This transaction causes the Accounts Receivable account to increase and the Sales Revenue account to increase.
(e) Payment of rent: This transaction causes the Rent Expense account to increase and the Cash account to decrease.
(f) Receipt of cash from sale of stock: This transaction causes the Cash account to increase and the Common Stock account to increase.
Overall, the nature of each transaction is determined by the activities that cause the accounts to increase and decrease. By understanding how each transaction affects the accounts, you can accurately identify the nature of each transaction.
Related Questions
You are told that if you invest $11,000 per year for 23 years( all payments made at the end of each year) you will have accumulated $366,000 at the end of the period What annual rate of return is the investment offering.
Answers
Answer:
3.2%
Explanation:
this is an ordinary annuity:
future value of an ordinary annuity = annual payment x future value annuity factor
$366,000 = $11,000 x future value annuity factor
future value annuity factor = $366,000 / $11,000 = 33.2727
you can solve this in two ways:
the first is with a lot of math work in order to solve the following equation
33.2727 = [(1 + i)²³ - 1] / i
or
you can use an annuity calculator (available online) which will yield 3.2%
For which of the following errors would the appropriate amount be added to the balance per books on a bank reconciliation? Deposit of $700 recorded by the bank as $70. Check written for $59, but recorded by the company as $95. A returned $100 check recorded by the bank as $10. Check written for $63, but recorded by the company as $36.
Answers
The appropriate amount to be added to the balance per books on a bank reconciliation would be for the error: "Check written for $63, but recorded by the company as $36."
In bookkeeping, a bank reconciliation is the process by which the bank account balance in an entity’s books of account is reconciled to the balance reported by the financial institution in the most recent bank statement. Any difference between the two figures needs to be examined and, if appropriate, rectified.
In this case, the company wrote a check for $63, but mistakenly recorded it as $36 in their books. As a result, the company's records show a lower amount than the actual check amount. To reconcile this error, the appropriate amount ($27) would be added to the balance per books to reflect the correct check amount and bring the two balances into agreement.
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List 4 stakeholders
Answers
Answer:
Employees,Governments,Local communities,customer
Francisco started a new job and wants to open a retirement account. He has heard about 401k and 403(b) accounts for retirement. His new job will only allow him to have a 403(b) account. What is the MOST likely reason for this? A. Francisco is a salesperson at a clothing shop. B. Francisco is a CEO of a Fortune 500 company. C. Francisco is a government employee. D. Francisco is an investment banker.
Answers
The MOST likely reason for Francisco's new job allowing him to have only a 403(b) retirement account is C. Francisco is a government employee.
Francisco, as a government employee, may be working in a public school. Under section 501(c) of the IRS code, Francisco's organization is a nonprofit, which is tax-exempt.
Thus, the main reason that Francisco can open a 401(k) but a 403(b) retirement account is because he is working in a 501(c) tax-exempt organization.
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Francisco is a government employee.
If you are unable to resolve a conflict, you might need to invite a(n) _____ to suggest possible resolutions.
mediator
arbitrator
witness
judge
Answers
The answer is mediator
Answer:
mediator
Explanation:
edg2020
Ethan Manufacturing Inc. produces floor mats for automobiles. The owner, Joseph Ethan, has asked you to assist in estimating maintenance costs. Together, you and Joseph determine that the single best cost driver for maintenance costs is machine hours. These data are from the previous fiscal year for maintenance costs and machine hours:
Month Maintenance Costs Machine Hours
1 $ 2,670 1,760 2 2,830 1,840 3 2,980 1,920 4 3,090 1,940 5 3,170 1,970 6 3,140 1,950 7 3,080 1,930 8 2,920 1,910 9 2,690 1,770 10 2,290 1,170 11 2,300 1,370 12 2,520 1,660 Required:
1. What is the cost equation for maintenance costs using the high-low method?
2. Calculate the mean absolute percentage error (MAPE) for the cost equation you developed in requirement 1.
Answers
The cost equation for maintenance costs using the high-low method is $1,003 + ($1.10 * Machine Hours). The mean absolute percentage error can be calculated by adding up all the percentage errors and dividing by the number of months.
The cost equation and MAPE can be calculated as follows:
1. To find the cost equation for maintenance costs using the high-low method, follow these steps:
Step 1: Identify the highest and lowest activity levels.
- Highest: 1,970 machine hours with $3,170 maintenance costs
- Lowest: 1,170 machine hours with $2,290 maintenance costs
Step 2: Calculate the variable cost per machine hour (VC).
- VC = (Highest cost - Lowest cost) / (Highest machine hours - Lowest machine hours)
- VC = ($3,170 - $2,290) / (1,970 - 1,170)
- VC = $880 / 800
- VC = $1.10 per machine hour
Step 3: Calculate the total fixed costs (FC).
- FC = Total cost - (VC * Machine hours)
- Using the highest activity level data:
- FC = $3,170 - ($1.10 * 1,970)
- FC = $3,170 - $2,167
- FC = $1,003
Step 4: Write the cost equation.
- Cost Equation = Fixed Costs + (Variable Costs * Machine Hours)
- Cost Equation = $1,003 + ($1.10 * Machine Hours)
2. To calculate the mean absolute percentage error (MAPE) for the cost equation, follow these steps:
Step 1: Calculate the estimated costs using the cost equation for each month.
Step 2: Calculate the absolute errors for each month (Actual cost - Estimated cost).
Step 3: Calculate the percentage errors for each month (Absolute error / Actual cost).
Step 4: Add up all the percentage errors and divide by the number of months to get the mean absolute percentage error.
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Click this link to view O*NET’s Work Activities section for Licensing Examiners and Inspectors. Note that common activities are listed toward the top, and less common activities are listed toward the bottom. According to O*NET, what are some common work activities performed by Licensing Examiners and Inspectors? Check all that apply. working directly with the public evaluating information staffing organizational units drafting technical devices interacting with computers getting information
Answers
Answer:
Licensing Examiners and Inspectors examine, evaluate, and investigate eligibility for, conformity with, or liability under licenses or permits.. Here is what a typical day’s work for a Licensing Examiner and Inspector looks like: Issue licenses to individuals meeting standards. Collect fees for licenses.
Explanation:
Answer: A B E F
Explanation:
Which examples demonstrate common qualifications for Security and Protective Services careers? Check all that apply.
Brooke negotiates with the prison inmates she supervises.
Ami is comfortable working alone and making decisions in her work as a Private Detective.
Reed thinks of creative solutions for defending a client in court.
Vincenzo attends college for many years and earns a juris doctor degree.
Shameka watches for unusual activities and signs of danger as she guards a bank building.
Teddy is a Lifeguard who uses his strength to pull a person out of the water.
Answers
Answer:
2,5,6
Explanation:
Ami,shameka,teddy
Answer:
2,5,6
Explanation:
Think of a situation that you witnessed regarding communication in an organizational change situation. Identify the elements of gender, power emotion language amd media choice that were used in the situation. Using concepts from our texts, what made ea h element effective or ineffective brainly
Answers
The correct answer to this open question is the following.
Unfortunately, you did not attach the texts you read or some excerpts to know what they talk about.
However, trying to help you, we can comment on the following.
The situation that I witnessed regarding communication in an organizational change situation was in the company where my father worked.
This company tried to promote a more inclusive workplace, hiring people from different backgrounds of life, ethnicities, races, and nationalities. The Communications Department made a good effort to be inclusive to inform the employees, inviting them to express themselves openly because the managers also wanted people to be confident to make their voices heard.
They used proper and formal language. They wanted people to be welcome to express their concerns.
As I mentioned before, this was a Communication program to let employees know that the company was changing for good. More diversity and more openness, as well as inclusion.
As far as I'm concerned, the program was successful in that employees really felt that managers were honest in the effort.
Today, ________ are flourishing due to the increased use of market segmentation and market targeting. A) chain stores B) specialty stores C) superstores D) discount stores E) off-price stores
Answers
Today, specialty stores thrive due to the increased use of market segmentation and market targeting.
What does a marketing specialist store entail?Retailers that specialize in marketing specialty stores offer a wide range of goods in specific niches. Furniture stores, flower shops, sporting goods stores, and bookstores are examples of specialty retailers. Retailers (large and tall clothing) such as DXL Big + Tall and The Athlete's Foot (selling only athletic shoes).
Which of the following describes an online transaction between a retailer and a customer?E-commerce, also known as electronic commerce, is the transfer of products or services, funds, and data over electronic networks, most commonly the Internet. These business transactions can be B2B, B2C, C2C, or C2B (business-to-business, consumer-to-consumer, or business-to-business).
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What days are BIM classes held?
Answers
Classes take place on Mondays and Wednesdays from 4:00-6:00 pm EST, at The Plan Room located at 1815 W Broadway.
Have a Nice Day.
PLEASE HELP!
Project: Create an Employment Dispute and Resolve It through Arbitration
Assignment Directions:
In an essay of at least 500 words, create a scenario in which an employment dispute arises. Look to the sample arbitration clauses in this lesson and consider referring to one of them (for example, a sample of the arbitration clause in the employment agreement between Party A and Party B).
Summarize the arbitration proceedings and decide in whose favor the arbitrator will make his award.
Answers
An essay to describe a scenario in which an employment dispute arises.
Employment disputeMenda group of companies hired Kelvin as a customer representative officer in which his job roles includes attending to customers complaint and also bringing in new customers. The employment agreement was to introduce least 10 new customers to qualify for 100% of his salary. For instance, if he brings 5 new customers, it means he will receive 50% of his salary.
Kelvin brought 3 new customers a particular months and he was payed 30% of his salary. He decided to file a lawsuit against his employer.
As the judge to preside over the case, Menda group of companies would be favoured because it was already in the employment agreement to pay percentage of new customers brought as monthly salary.
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Write H if the resource is a human resource, and NH if it is a nonhuman resource. 1.Machines
2.Tools
3.Workers
4.Land
5.Water
6.Capital
7.Labor force
8.Time
9.Entrepreneur
10.Process
Answers
1.H
2.H
3.NH
4.NH
5.H
6.NH
7.H
8.NH
9.H
10.H
Baird, Inc. sells fireworks. The company’s marketing director developed the following cost of goods sold budget for April, May, June, and July.
April May June July
Budgeted cost of goods sold $69,000 $79,000 $89,000 $95,000
Baird had a beginning inventory balance of $4,400 on April 1 and a beginning balance in accounts payable of $15,200. The company desires to maintain an ending inventory balance equal to 20 percent of the next period’s cost of goods sold. Baird makes all purchases on account. The company pays 70 percent of accounts payable in the month of purchase and the remaining 30 percent in the month following purchase.
Required
Prepare an inventory purchases budget for April, May, and June.
Determine the amount of ending inventory Baird will report on the end-of-quarter pro forma balance sheet.
Prepare a schedule of cash payments for inventory for April, May, and June.
Determine the balance in accounts payable Baird will report on the end-of-quarter pro forma balance sheet.
Prepare an inventory purchases budget for April, May, and June.
Inventory Purchases Budget April May June
Budgeted cost of goods sold $69,000 $79,000 $89,000
Plus: Desired ending inventory Inventory needed 69,000 79,000 89,000
Required purchases (on account) $69,000 $79,000 $89,000
Determine the amount of ending inventory Baird will report on the end-of-quarter pro forma balance sheet.
Ending inventory Prepare a schedule of cash payments for inventory for April, May, and June. (Round your final answers to the nearest whole dollar.)
Schedule of Cash Payments April May June
Payment of current accounts payable Payment of previous accounts payable Total budgeted payments for inventory $0 $0 $0
Determine the balance in accounts payable Baird will report on the end-of-quarter pro forma balance sheet.
Accounts payable
Answers
Determine the balance in accounts payable Baird will report on the end-of-quarter pro forma balance sheet.
Accounts payable balance as of April 1 = $15,200
Purchases on account in April = $69,000
70% of April purchases paid in April = $48,300
30% of April purchases paid in May = $20,700
Accounts payable balance as of May 31 = $15,200 + $20,700 - $48,300 = -$12,400
(Note: Negative balance means Baird has overpaid its accounts payable and owes less than the beginning balance.)Purchases on account in May = $79,000
70% of May purchases paid in May = $55,300
30% of May purchases paid in June = $23,700
Accounts payable balance as of June 30 = -$12,400 + $23,700 - $55,300 = -$44,000
(Note: Negative balance means Baird has overpaid its accounts payable and owes less than the beginning balance.)
Therefore, Baird will report an accounts payable balance of -$44,000 on the end-of-quarter pro forma balance sheet.
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How might specialization, or division of labor, help Joanne make her business more productive?
Answers
Division of Labor's Benefits Many of the benefits of dividing labor in the workplace are self-evident. Saving time is one of them. Assigning tasks to each employee that are best suited to her abilities. Productivity is rising. For the tasks at hand, you only need one set of tools rather than many. Those
Hope this helps and if it does, don't be afraid to give my answer a "Thanks" and maybe a Brainliest if it's correct?
A specialization, or division of labor, helps Joanne make her business more productive by increasing economies of scale by producing more goods in less time and with limited funds.
What is Business?An economic activity that involves the exchange of goods and services with teh help of buying and selling with the objective to gain some profit is called Business.
Specialization helps in assigning or distributing work among workers so each worker concentrates on his work and timely finishes it which helps in quality as well as time efficiency by utilizing their skills.
Division of labor allows a busines to utilize the time and make optimization of resources by assigning small tasks to labor so that they can complete it and helps in achieving the desired objective of the business.
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mentha company currently has the following statistics:days in inventory: 80operating cycle: 148what is mentha's days in accounts receivable?
Answers
Mentha's days in accounts receivable is 68.
Accounts receivable refers to the average number of days it takes for a company to collect payment from its customers. In order to calculate the days in accounts receivable, we need to subtract the days in inventory from the operating cycle.
In this case, the operating cycle is given as 148 days, which represents the average time it takes for Mentha to convert its inventory into cash through the sale of products and subsequently collect payment from customers. The days in inventory is given as 80 days, which indicates the average time it takes for Mentha to sell its inventory.
By subtracting the days in inventory from the operating cycle, we can determine the remaining time it takes for Mentha to collect payment from its customers. Therefore, the days in accounts receivable is calculated as follows:
Days in accounts receivable = Operating cycle - Days in inventory
Days in accounts receivable = 148 - 80
Days in accounts receivable = 68
Therefore, Mentha's days in accounts receivable is 68.
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Define local technology .
Answers
a source of internet, or WIFI that's close to you. Local= near Tech= phones, computers, etc.
What trophy is earned for transferring $500 into your savings account?
O Credit Health
O Debt Reduction
O Emergency Fund
O Perfect Pay
Answers
The trophy that is earned for transferring this money to your savings account is emergency fund.
What is emergency fund?
This is a term that is used to refer to the fact that a person has financial safety net somewhere.
That is they have money that they can refer to at anytime especially if they are in dire need of money due to a situation.
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How many days does a server have to get trained after starting their employment?.
Answers
A server is required to complete 60 days of training after beginning work.
Describe employment.Employment is a partnership between two people that governs the delivery of compensated labor services. One party, the employer, who may be a company, a not-for-profit organization, a co-operative, or any other entity, pays the other, the employee, in accordance with the terms of a contract in exchange for doing the job that has been allocated to them. Employees perform work in exchange for pay, which may be made up of an hourly rate, piecework payments, or an annual salary, depending on the nature of the work performed, the industry conditions in effect, and the bargaining power of the parties.What do you mean by training?Training is teaching, or developing in oneself or others, any skills and knowledge or fitness that relate to specific useful competencies. Training has specific goals of improving one's capability, capacity, productivity and performance.Learn more about employment here:
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Which factor plays the biggest role in motivating economic decisions in a
market economy?
O A. Corruption in the leadership of powerful groups
O B. Commitment to maintaining a traditional lifestyle
O C. Competition between different businesses
D. Cooperation between governments and citizens
Answers
Cooperation between governments and citizens: plays the biggest role in motivating economic decisions in a market economy. Thus, option D is the correct option.
What Is a Market Economy?A market economy is a kind of capitalism in which a nation's companies and residents interact to determine economic policy and the cost of products and services. Although there may be some central planning or government interference, this phrase often denotes a more generally market-oriented economy.
The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand. In a market economy, entrepreneurs are free to pursue profit by producing outputs that are worth more than the inputs they use, or, if they choose not to, to fail and close their doors. The forces of supply and demand are used in market economies to set the right prices and quantities for the majority of products and services.
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usually we pick up income at: multiple choice collection of a receivable acquisition of inventory point of sale
Answers
The typical point at which we recognize income is:
d) All of the above
Income is typically recognized at the point of sale, which refers to the moment when goods or services are sold to customers.
is when the transaction occurs, and revenue is generated. At the point of sale, the customer makes a payment, and the seller records the revenue earned from the sale.
However, income can also be recognized in other scenarios. For example, when a receivable is collected, meaning a customer pays an outstanding amount owed, or when inventory is acquired, indicating the purchase of goods for resale.
These events also contribute to the recognition of income, making option d) "All of the above" the correct choice.
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The complete question is:
Where do we typically recognize income?
a) Collection of a receivable
b) Acquisition of inventory
c) Point of sale
d) All of the above
Bulldog stock doesn't currently pay dividends, but you expect it to pay its first dividend of $2.32 exactly 3 years from now. Thereafter, future annual dividends will grow at a constant 4.0% per year. What is a fair price for the stock today if the equity cost of capital is 8.3%? Round your answer to the nearest penny.
Answers
The fair price if the equity cost of capital is 8.3% for Bulldog stock today is $62.54.
The fair price for Bulldog stock today, considering the expected future dividends and the equity cost of capital, can be calculated using the dividend discount model (DDM). The DDM values the stock by discounting its future cash flows (dividends) back to the present.
To calculate the fair price, we need to determine the present value of the expected future dividends. The first dividend of $2.32 will be received three years from now. We can use the dividend growth formula to calculate the future dividends beyond that point.
The formula for calculating the present value of a growing perpetuity is:
PV = D / (r - g)
Where PV is the present value, D is the dividend, r is the equity cost of capital, and g is the growth rate of dividends.
Using the given values:
D = $2.32
r = 8.3% or 0.083
g = 4.0% or 0.04
We can substitute these values into the formula:
PV = $2.32 / (0.083 - 0.04) = $62.54
Therefore, the fair price for Bulldog stock today, rounded to the nearest penny, is $62.54.
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Which describes a situation of scarcity?
Answers
Answer:
Scarce natural resources make it more difficult for producers to keep up with demand.
Explanation:
pa brainlest na din po
Answer:
"Scarce natural resources make it more difficult for producers to keep up with demand"
ABSOLUTE SCARCITY EXAMPLES INCLUDE: ... Coal is used to create energy; the limited amount of this resource that can be mined is an example of scarcity. A day has an absolute scarcity of time, as you cannot add more than 24 hours to its supply. Those without access to clean water experience a scarcity of water
the free cash flow statement helps to quickly calculate which of the following
A profitability
b revenue
c cash
d operating expenses
Answers
The correct alternative is letter A. profitability. The free cash flow statement helps you quickly calculate profitability.
What is the cash flow statement?Corresponds to an accounting report that allows a more comprehensive understanding of the real financial situation of the business, through the analysis of cash movements that occurred in a period, that is, the cash flow statement must contain cash inflows and outflows, to analyze the real profitability of the period.
Therefore, the cash flow statement helps a company to know and better understand its financial health after paying its expenses, that is, profitability.
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why do you think was the sum from the prize deducted
Answers
In reference to the school scholarship, we can say that a sum from the prize deducted on the basis of tax, but, scholarship money is generally tax-free.
What is the tax application on school scholarship?n general, scholarships are considered taxable income if they are used for non-qualified expenses, such as room and board or other personal expenses. However, scholarships used to pay for qualified educational expenses, such as tuition, fees, books, and supplies, are generally tax-free. The IRS defines qualified educational expenses as those required for enrollment or attendance at an eligible educational institution.
For example, if a student receives a scholarship that covers the full cost of tuition and fees, that scholarship would be considered tax-free. However, if the scholarship also covers room and board or other personal expenses, those portions of the scholarship would be taxable.
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What principle does this demand curve demonstrate?
quantity demanded increases as prices decrease
quantity demanded increases as prices increase
prices decrease as quantity demanded decreases
prices remain the same as quantity demanded increases
Answers
Answer:
quantity demanded increases as prices decrease
Explanation:
Demand is the volume of a product that consumers are willing to buy at the market place at a given price over a given time. The demand curve is a graphical representation of the relationship between the demand and the product's price. It shows how quantity demanded increases as prices decrease. The demand curves illustrate the law of demand.
The demanded curve slope downwards with the prices plotted on the Y-axis while the quantity demanded is on the X-axis. Movement along the slope illustrates how quantities change at different prices.
Answer:
a
Explanation:
Is a business plan a one time fee?
Answers
Answer:
i think so :)
Explanation:
The ______ product level answers the question of what is really being bought. A) Core B) Supportive C) Facilitating D) Augmented.
Answers
The Core product level answers the question of what is really being bought.
The core product level answers the question of what is really being bought. It represents the fundamental benefit or value that customers seek when purchasing a product. It goes beyond the physical features or attributes of the product. For example, when buying a car, the core product level would be transportation or mobility. Customers are primarily purchasing the ability to move from one place to another conveniently and comfortably. The core product level is the essential reason behind the purchase decision. It addresses the underlying needs, desires, or problems that customers want to fulfill or solve. Understanding the core product level helps marketers to develop effective marketing strategies that align with customers' motivations and create products that satisfy their fundamental requirements.
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according to the text, when salespeople alter their sales messages and behaviors during a sales presentation, or as they encounter different sales situations, they are using:
Answers
According to the text, when salespeople alter their sales messages and behaviors during a sales presentation, or as they encounter different sales situations, they are using Adaptive selling.
What is Adaptive Selling?
Changing sales behaviors based on the circumstances of the transaction is known as adaptive selling. To provide information about the product that caters to the demands of the clients, a customized presentation is employed. To effectively market the items to clients, a suitable sales plan must be developed. A salesperson must possess the necessary expertise to win over customers' confidence, satisfy their demands, and provide them contentment. A successful salesperson should be well-versed in all aspects of the product, including its functions, creation process, and points of differentiation from rivals.
Adaptive selling makes it easier to comprehend the demands of the consumer. A salesperson can always close a transaction with the support of a solid client connection.
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I don't have moey. What is the best job to get when you're in middle school?
Answers
Answer:
You can work at publix as a cashier. They acept 14 year olds. And ur in 8th grade as 14 which is in middle school.
Explanation:
This is the best job u can get as a kid
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