A Canadian company with a registered HST number receives an invoice from a
supplier for $1,000 worth of goods. There is $130 of HST charged on the invoice. To
which of the following general ledger accounts will the $130 of HST be coded?
h
HST Tax (Liability/Asset)
Cost of Goods Sold (Expense)
Sales (Income)
Tax Expense (Expense)
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The entry to record the $1,250 impairment includes a Debit to Impairment loss and Credit to Accumulated Impairment Loss.

Impairment Loss = Book Value - Fair Value

Impairment Loss = $16,000 - $14,750

Impairment Loss = $1,250

Account Titles                                     Debit    Credit

Impairment Loss                                 $1,250

  Accumulated Impairment Loss                     $1,250

(To record impairment loss on equipment)  

In conclusion, the entry to record the $1,250 impairment includes a Debit to Impairment loss and Credit to Accumulated Impairment Loss.

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I agree that Automation is bad for the economy because machines will eventually replace almost all human workers, creating high unemployment and poverty”.

Automation involves the using of machines and computer in getting task done, and this reduce man power.

In this case, Automation is bad for the economy because machines will eventually replace almost all human workers.

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Labor is an example of a variable cost. The majority of your labor costs are actually fixed expenses or constant labor,

The effort that people put forth to produce goods and services is referred to as labor. Both the engineer who created the bus that delivers you to school and the waiter who brings your food to a nearby restaurant are examples of labor resources.

Even though many people think of labor as a variable cost because scheduling might change based on the day. The chef, managers, and bookkeeper are examples of salaried employees whose pay is often unaffected by sales.

Therefore, Thus option (C) is correct.

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Answer:

$30.59

Explanation:

Note that the FIFO method is used for this question

Equivalent Units

Materials =  5,200 x 100 % + 300 x 100 % = 5,500

Conversion Costs = 400 x 55 % + 5,200 x 100 % + 300 x 35 % = 5,525

Total Costs

Materials =  $25,200

Conversion Costs = $143,700

Cost per Equivalent unit

Materials =  $25,200/5,500 =  $4.58

Conversion Costs = $143,700/5,525 = $26.01

Total Cost = $4.58 + $26.01 = $30.59

Conclusion

The cost of completing a unit during the current period was $30.59

Answer:

Ineffective communication affected my success when I wanted to sell my skincare product to an Asian who did not really have a full grasp of the English language.

Explanation:

I experienced ineffective communication which was caused by a language barrier between me and an Asian woman to whom I wanted to sell a skincare cream. I tried explaining the benefits of the cream to her, but she seemed not to understand what I was saying. At the end of the day, she did not purchase the cream.

In order to sell skincare creams, a person must communicate the full benefits of such cream to a potential buyer since he/she might already have had something he uses before. If the woman had a strong grasp of the English language, it would have been easier for me to convince her to buy the cream as I would have employed persuasive terminologies that would appeal to her.

An example of ineffective communication was when I went to France for vacation and I tried communicating with someone in English but he didn't understand me.

Ineffective communication simply means a form of communication where the receiver can't understand the message and therefore the message wasn't conveyed properly.

An example of ineffective communication was when I went to France for vacation and I tried communicating with someone in English but he didn't understand me.

The communication was ineffective because we were both speaking different languages. It'll have been effective if we spoke the same language.

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Answer:

To calculate the effective annual interest rate (EAR) from a nominal interest rate with quarterly compounding, you can use the following formula:

EAR = (1 + (r/n))^n - 1

Where:

r is the nominal interest rate (expressed as a decimal), which is 2% in this case (0.02).

n is the number of compounding periods per year, which is 4 (quarterly compounding).

Plugging in the values, we have:

EAR = (1 + (0.02/4)) - 1

= (1 + 0.005) ⁴- 1

= (1.005) 1

≈ 0.0202

Therefore, the effective annual interest rate for a savings account with a nominal interest rate of 2% and quarterly compounding is approximately 2.02%.

Answer:

                       Supplies Account

Trial balance     $295  |  Adjustment      $187

                                     |  Balance            $108

                          $295                              $295

Balance             $108

                Supplies Expenses Account

Adjustment      $187       |

               Adjusting journal entry

Date     Account Titles           Debit    Credit

            Supplies expenses      $187

                   Supplies                            $187

            (To record Supplies expenses)

Explanation:

I am not understanding your question

Answer:

a) Yes

Explanation:

An increase in real terms is when the real percentage increase in rent is a number greater than zero. The real rate is determined by subtracting the inflation rate from the nominal rate of interest.

Inflation refers to an increase in prices in the economy. If prices are increasing by 6 percent,  the inflation rate is also 6 percent.  The nominal rate of interest is the quoted rate. In this case, it is 7 percent.

The real rate of interest will be 7% - 6% = 1%.

Rent is increasing by a real rate of  1 percent per year.

Answer:

Explanation:I want an answer

Answer:

Errors not detected by a trial balance ​ are:

1. Posting to Wrong Account

2. Error of Amounts in Original Book

3. Compensating Errors

4. Errors of Principle

5. Errors of Omission

Explanation:

The Trial Balance does not provide absolute assurance of ledger account accuracy. It is just an evidence of the postings' arithmetical accuracy. Even though the amount of debits equals the amount of credits, there may be inaccuracies.

A trial balance will not reveal such errors, and they are:

1. Posting to Wrong Account: IF accidentally posted something to the wrong account, but it was on the right side, the Trial Balance agreement will not be affected. For example, if a $200 purchase from John was credited to Joshua instead of John. As a result, Trial Balance will miss such an error.

2. Error of Amounts in Original Book: The Trial Balance will come out appropriately if an invoice for $632 is filed in Sales Book as $623, because the debit and credit have been recorded as $623. The arithmetical precision is there, yet there is a flaw.

3. Compensating Errors: This occurs one mistake is offset by a similar mistake on the other side. These errors are cancelled if one account in the ledger is debited $500 less and another account in the ledger is credited $500 less.

4. Errors of Principle:  An errors of Principle is one that breaches the foundations of bookkeeping. Purchases of furniture, for example, are debited to the Purchase Account rather than the Furniture Account; wages paid for the erection of plant are debited to the Wages Account rather than the Plant Account; and the amount spent on a building extension is debited to the Repairs Account rather than the Building Account, and so on. These kind of errors do not alter the total debits and credits, but they do impair the bookkeeping principle.

5. Errors of Omission: There will be no effect on the Trial Balance if a transaction is completely omitted. An error of omission occurs when a transaction is fully unreported in both aspects, or when a transaction is documented in the books of primary entry but never entered in the ledger. For example, if a credit purchase is not recorded in the Purchase Day Book, it will not be posted to both the Purchase Account and the Supplier's Account. This error, on the other hand, will not cause Trial Balance to disagree.

Explanation:

i think the graduated tax system is fairest ,it imposes a higher rate on the rich than the poor and all this is done based on the tax payer if this is done it will help the poor to pay for needs such as shelter food and other personal needs it allows the poor to spend most of they money

Answer:

k

Explanation:

Gamble Company will have a total contribution margin of b. $240,000.

Data and Calculations:

Available machine hours for the month = 25,000 hours

                                                 Product X     Product Y       Total

Contribution margin                 $50                $64

Machine time required per unit 5 hours        8 hours

Maximum sales units             4,000 units      4,000 units

Contribution margin per

 machine time (hour)             $10 ($50/5)      $8 ($64/8)

Total machine time required 20,000           32,000         52,000 hours

At optimum produce, produce 4,000 units  625 units

Contribution margin =         $200,000         $40,000    $240,000

                                         ($50 x 4,000)    ($64 x 625)

Thus, at the optimum product mix of Product X and Product Y, Gamble Company will have a total contribution margin of $240,000.

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Answer:

Yes they do

Explanation:

Most banks and commercial baks provide online banking

Online banking is being able to check on your bank account through an app or website from the comfort of your own home.

you can access deposit and loan accounts, view balances, transfer funds and pay your bills from your computer.

SIDS, unintentional suffocation while sleeping, and other sudden, unforeseen newborn deaths are examples of abrupt, unexpected infant fatalities.

Although the exact etiology of SIDS is unidentified, many physicians and researchers think that it is related to issues with the baby's capacity to wake up from sleep, to recognize low oxygen levels, or to identify an increase of carbon dioxide in the blood. Toddlers that sleep with their faces downward may breathe in their own carbon dioxide. Despite a newborn's risk of SIDS is reduced if they sleep in the same room as their parents, that risk rises if they share a bed with their parents, or siblings.

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A financial ratio, also known as an accounting ratio, is the difference in magnitude between two specific numbers obtained from the financial accounts of an organization.

There are numerous standard ratios that are frequently used in accounting to assess the overall financial health of a firm or other entity.

Given

Cash $ 50,000

Current liabilities $ 64,000

Accounts receivable 35,000

Long-term liabilities 72,000

Inventory 60,000

Common stock 1,00,000

Equipment 140,000

Retained earnings 49,000

Total assets $ 285,000

Total liabilities and equity $ 285,000

(a) working capital  = Current Assets - Current Liabilities

   \(Current Assets = AR + Cash + Inventory \\ = $ 35000 + 50,000 + 60,000\\ = $ 145,000\\\\Working Capital = CA - CL \\\\ = $ 145,000 - 64,000\\ = $ 81,000\\\)

(b) acid-test ratio = Current Assets - Inventory - Prepaid /Current Liabilities

                             \(85000/64000 = 1.33:1\\\)

(c) current ratio = Current Assets / Current Liabilities  

                           \(145000/64000 \\= 2.26:1\)

(d) debt ratio = Total Debt / Total Assets

                       \(72000/285000 \\=0.25:1\)

(e) equity ratio = Total Equity / Total Assets

               \(100,000+49,000 / 285,000\\= 149000/285000\\= 0.523: 1\)

(f) debt-to-equity ratio = Debt / Equity

                                    = \(72000/149000\\= 0.48:1\\\)

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The project organigram should identify the role-players and stakeholders involved in the project and determine if they were all in original agreement.

The project organigram outlines the key individuals and entities involved in the project including project managers, team members, clients, executives and any other relevant stakeholders.

It also highlights their roles, responsibilities, and relationships within the project structure. Assessing whether they were all in original agreement requires examining the project's initiation phase and the documented agreements such as contracts, memorandums of understanding or project charters.

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The major determinants of price elasticity are :

a) Bottled water: It is likely elastic because there are a number of substitutes to bottled water such as cans of soda, tap water, water from fountains, etc.

b) Toothpaste: Inelastic because many substitutes are not present and toothpaste is necessary.

c) Crest toothpaste: Elastic because it is a specific brand and there are many substitutes such as Colgate, Sensodyne, etc.

d) Ketchup: Inelastic good because there are not many substitutes for ketchup and it is a source of income

e) Diamond bracelets: Elastic is good because it is a luxury good and makes up a large part of the income.

f) Microsoft's Windows operating system: The Good is likely to be inelastic because of the lack of substitutes and it is a necessity.

In economics, a call for the curve is a graph depicting the connection between the fee of a positive commodity (the y-axis) and the quantity of that commodity that is demanded at that fee (the x-axis). call for curves may be used both for the fee-quantity dating for a person patron (a man or woman demand curve), or for all purchasers in a specific market (a marketplace call for curve).

it's miles normally assumed that call for curves slopes down, as proven inside the adjoining image. that is because of the regulation of demand: for maximum items, the quantity demanded falls if the charge rises. positive uncommon situations do now not comply with this law. these encompass Veblen goods, Giffen goods, and speculative bubbles where shoppers are drawn to a commodity if its price rises.

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Complete Question:

What are the major determinants of price elasticity of demand? Use those determinants and your own reasoning in judging whether demand for each of the following products is probably elastic or inelastic:

(a) bottled water;

(b) toothpaste;

(c) Crest toothpaste;

(d) ketchup;

(e) diamond bracelets;

(f) Microsoft’s Windows operating system.

Why is it important for a producer to know the elasticity of the demand curve he or she faces?

Answer:

So in other words your company or business is looking for the most consistent/reliable supplier who's supply rate is the better out of the two according to overall and long-term supply of said product

Answer: c) while handling a complaint that a customer is furious about

Explanation:

Answer:

while handling a complaint that a customer is furious about

Explanation: I took the test

Explanation:

I don't have direct knowledge of the organization you are currently working in. However, I can provide a general example to help illustrate the systems characteristics of an organization. Let's consider a fictional manufacturing company called "ABC Manufacturing."

Objective:

The objective of ABC Manufacturing is to efficiently produce and deliver high-quality products to its customers while maximizing profitability. The organization aims to maintain a competitive edge in the market by consistently meeting customer demands and optimizing its operations.

Components:

1. Human Resources: The employees of ABC Manufacturing form a crucial component. They include production workers, managers, engineers, and support staff. Each employee contributes their skills and expertise to ensure smooth operations. For example, production workers assemble products, engineers design new prototypes, and managers oversee the overall functioning of the organization.

2. Production Facilities: The physical infrastructure, including factories, warehouses, and equipment, is another vital component. These facilities house the production lines, machinery, and storage areas necessary for manufacturing products. The efficient functioning of the production facilities is essential to meet production targets and ensure the timely delivery of goods.

3. Supply Chain and Logistics: The supply chain component involves managing the flow of materials, resources, and finished products. This includes sourcing raw materials, coordinating with suppliers, inventory management, and distribution logistics. Effective supply chain management ensures that the right materials are available at the right time, minimizing delays and reducing costs.

Interrelationships among Components:

The components of ABC Manufacturing are interrelated and interconnected, forming a system that works together to achieve the organization's objectives. Here are a few examples of interrelationships among these components:

1. Human Resources and Production Facilities: The production facilities rely on the skills and efforts of the employees. Human resources ensure that the right talent is hired, trained, and deployed in the production process. They also provide support and maintenance services to ensure the smooth functioning of the production facilities.

2. Production Facilities and Supply Chain: The production facilities rely on the timely availability of raw materials from the supply chain. Efficient coordination between production and supply chain teams is necessary to maintain optimal inventory levels and avoid production delays.

3. Supply Chain and Human Resources: The supply chain team collaborates with human resources to forecast demand, plan workforce requirements, and align production schedules accordingly. Effective communication and coordination between these components ensure that the production process meets customer demand and avoids excessive inventory or stockouts.

By viewing ABC Manufacturing through a systems perspective, we recognize that the organization is a complex interplay of various components working together to achieve a common objective. Understanding the interrelationships and dependencies among these components helps in identifying areas for improvement and optimizing the overall performance of the organization.

Answer:Dashen Bank s.c is a company where I am working in it. The company’s objective is to maximize its profit and become from the lists in best class banks in Africa. To achieve this objective it has its own system which contains the following components

• A banking software called FLEXCUBE which is the core software which accomplishes the majority of the banking day to day activities e.g. cash withdrawal, cash deposit, account opening general leger account postings etc.

• CATPS(card application tracking and processing system) is a component of a system which is used to capture ATM card applications  and authorize the processed/ captured applications in order to produce the cards

• Amole admin/internet banking application is used to create an access to the customers such that user name and passwords and and link bank accounts so customers can transfer money, make payments at home.

The above listed components have interrelation each other. E.g. in order to produce cards using CATPS, the customer must have a bank account with precise customer data such that signature, photo etc. so these stated things  i.e. account opening, signature and photo uploading activities are processed by FLEXCUBE software. In the same manner, in order to get an access to the bank account using amole/ internet banking, the customer must have properly opened bank account with customer signature and photo which is also processed by using FLEXCUBE software.

People who study economics are better able to comprehend their environment. It makes it possible for people to comprehend other people, organizations, markets, and governments, enabling them to better adapt to the challenges and possibilities that arise when circumstances change.

Both overt and covert ways that economics influence our daily lives are present. From a personal perspective, economics shapes many of the decisions we have to make about our jobs, hobbies, spending, and savings rates. Inflation, interest rates, and economic growth are a few examples of macroeconomic patterns that have an impact on our way of life.

Supply and demand, perfect and imperfect competition, taxation, international trade, price controls, monetary policy, exchange rates, interest rates, unemployment, and inflation are just a few of the many topics covered in economics classes that help students understand individual markets, the overall economy, and governmental policies.

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Product, pricing, place, and promotion make up the four Ps. They serve as an illustration of a "marketing mix," or the collection of tools and techniques utilized by marketers to accomplish their marketing goals.

A website is an illustration of a marketing project. The website could be a component of a marketing effort that conveys a consistent message for a new product launch. A press release, a social media post, and an email could all be additional campaign projects.

The marketing mix, which includes the four Ps of marketing (product, pricing, place, and promotion), is frequently used. These are the main factors that go into creating and promoting a good or service, and they interact heavily.

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Answer:

Nov 1

Debit : Note Receivable - C. Bohr $66,600

Credit : Cash $66,600

Dec. 11

Debit : Note Receivable - K. R. Pine, Inc. $7,200

Credit : Sales $7,200

Dec. 16

Debit : Cash $9,600

Credit : Note Payable - A. Murdock $9,600

Dec. 31

Debit : Note Receivable - C. Bohr  $666

Debit : Note Receivable - K. R. Pine, Inc. $100.80

Credit : Interest Income $766.80

Dec 31

Debit : Interest expense   $64

Credit : Note Payable - A. Murdock  $64

Explanation:

Interest Income calculations :

Note Receivable - C. Bohr  = $66,600 x 2/12 x 6 % = $666

Note Receivable - K. R. Pine, Inc = $7,200  x 21/ 90  x 6 % = $100.80

Interest expense calculations :

Note Payable - A. Murdock $9,600 x 15 / 180 x 8 % = $64

Upon the transfer of a property from one owner to another, all funds being held for the tenants by the landlord must be transferred to the new owner.

This includes security deposits, prepaid rent, and other tenant funds that the landlord may be holding on behalf of the tenants. The new owner becomes responsible for managing these funds and complying with any applicable laws and regulations regarding their use and return to tenants.

It is important for landlords and new property owners to carefully document and account for these tenant funds during the transfer process to ensure that all funds are properly accounted for and that tenants are not unfairly impacted by the transfer of ownership.

Hence, the transfer of a property from one owner to another, all funds being held for the tenants by the landlord must be transferred to the new owner.

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Explanation:

Direct Labor Cost Variance is the difference between the actual direct labor cost, and the standard cost.  

The formula for calculating the direct labor cost variance is:  

Actual cost per DLH = (Actual) direct labor cost incurred / Actual amount of direct labor hours.

Actual cost per DLH = $360,000/20,000 = $18 per DLH  

Direct Labor Cost Variance = [Actual Cost (AC) - Standard Cost (SC)] × Actual quantity of labor hours (AQ).

Direct Labor Cost Variance  =  ($18 per DLH - $16.50 per DLH) × 20,000 hours

Direct Labor Cost Variance  = $1.50 × 20,000 hours

Direct Labor Cost Variance  = $30,000  ( U )

The direct labor cost variance is unfavorable because because the firm paid $1.50 more per hour than expected  ($18 actual cost - $16.50 standard cost).

Direct Labor Efficiency Variance:  The difference between the actual quantity of labor hours and the labor hours that should have been used (standard quantity).

Direct Labor Efficiency Variance = (AQ − SQ) × SC

We must determine the standard quantity of labor hours before we could solve for the direct labor efficiency variance.

SQ = 45,000 units × 0.5 hours = 22,500 total DLH

Substitute the SQ into the calculations for the direct labor efficiency variance:

Direct Labor Efficiency Variance = (20,000 DLH - 22,500 DLH)  × $16.50 per DLH

Direct Labor Efficiency Variance = $41,250  ( F )

The $41,250 direct labor efficiency variance is favorable because the employees worked  2,500 fewer hours than the flexible budget called for to produce 45,000 units.  

Total Direct Labor Cost Variance  =  Cost Variance  - Efficiency Variance

Total Direct Labor Cost Variance  =  $30,000 ( U )  - $41,250 ( F )

Total Direct Labor Cost Variance  = $11,250 ( F )

The $11,250 favorable direct labor variance suggests that total labor costs were significantly less than expectations.  The reasons are:  

*Note:

This will be the last time that I'll help out with a non-math related topic.

Explanation:

An earthworm is a terrestrial invertebrate that belongs to the phylum Annelida. They exhibit a tube-within-a-tube body plan, are externally segmented with corresponding internal segmentation, and usually have setae on all segments. They occur worldwide where soil, water, and temperature allow

Answer:

Individuals have used their time, creativity, and skills to develop intellectual property, just as others have used their time and skills to make products or to provide services.  Intellectual property protection is critical to fostering innovation. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development.

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Answer: C. high returns

Explanation: Risk-return tradeoff is an investing theory which indicates that as higher the risk, the greater the return reward. In order to determine an acceptable risk-return tradeoff, investors need to weigh several aspects, including total risk exposure, the ability to substitute missing capital, and more.