The transaction will decrease the cash balance by $800 and increase the repair expense by $800.
Since Jackson electric services paid for the repair expense in cash, the cash account will decrease by $800. At the same time, the repair expense account will increase by $800 to reflect the cost incurred for the repair.
When Jackson electric services incurred a repair expense of $800 and paid for it in cash, the transaction has two effects on the financial statements: a decrease in the cash balance and an increase in the repair expense.
Decrease in Cash Balance: Since the repair expense was paid in cash, the cash account will be reduced by $800. Cash is considered an asset on the balance sheet, and any decrease in cash results in a reduction of the company's available funds.
Increase in Repair Expense: The repair expense account on the income statement will increase by $800. Repair expenses are categorized as operating expenses and are subtracted from the revenue to calculate the net income. By recording the repair expense, the company accurately reflects the cost incurred for the repair, reducing the overall profitability.
Firstly, it decreases the cash balance by $800, reflecting the outflow of cash for the repair expense. Secondly, it increases the repair expense account by $800, accurately representing the cost incurred for the repair. These adjustments ensure that the company's financial statements provide an accurate depiction of the financial impact of the repair on Jackson electric services' operations.
In conclusion, the transaction involving Jackson electric services incurring an $800 repair expense and paying for it in cash has two main effects.
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Jackson Electric Services' transaction of paying $800 in cash for repair expenses decreases the cash account by $800 and increases the expenses account by $800, following the double-entry bookkeeping principle.
Explanation:This transaction by Jackson Electric Services effectively impacts two areas of the company's accounts: its cash account and its expense account. As the company paid $800 in cash for repair expenses, this will result in a $800 decrease in the cash account and a $800 increase in the expenses account, assuming that the company is applying the double-entry bookkeeping principle.
To understand this in more concrete terms, think of the cash account as the company's wallet. Paying $800 for repair services means that the company now has $800 less in its wallet. On the other hand, representing this as an increase in the expenses account is a way for the company to keep track of what it spent that $800 on, which in this case, is repair services.
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The major features of the U.S. free enterprise system include:
A. restrictions on the types of available consumer goods.
B. economic decisions made mainly to promote fairness.
C. limited competition between a small number of companies.
D. limits on the government's role in the economy.
ASAP !!!
Answer:
D. limits on the government's role in the economy.
Explanation:
Free market enterprise refers to the economic model where demand and supply forces determine the products and services in the market and their prices. In this model, sellers have the freedom to select what business they want to start. Buyers have the option of picking their preferred products or services from many competing suppliers.
In a free market enterprise like the USA economy, the government's role is limited to regulation. The government may get involved in the provision of essential services and public goods. To a large extent, the free market economy is in the profit-motivated, private sector.
Answer: D. Limits on the governments role in the economy
Explanation: I just took the test on a pe x
In our freely competitive economy, businesses have no limits on how they can attract customers
a. true
b. false
The statement "In our freely competitive economy, businesses have no limits on how they can attract customers" is false because while businesses are free to compete with one another, there are still limits in place to ensure fair and ethical practices.
For example, businesses must follow advertising laws and cannot make false or misleading claims about their products or services. They also cannot engage in anti-competitive practices such as price-fixing or monopolistic behavior. Additionally, businesses must comply with regulations related to consumer safety, environmental protection, and labor laws.
Failure to abide by these rules can result in legal consequences and damage to a business's reputation. Therefore, while businesses are free to compete, there are still limits in place to ensure fairness and protect consumers.
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The percentage of the US labor force that is unemployed is known as the __________.
A.
consumer price index
B.
gross domestic product
C.
national unemployment rate
D.
annual percentage change
Please select the best answer from the choices provided
A
B
C
D
Answer:
Explanation:
C
Answer:
C. national unemployment rate
Explanation:
i did the quiz, hope this helps<3!!
To examine
the weekly payroll of all employees, one would look at the:
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
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Howard has a chemical burn from accidentally spilling a strong basic cleaning solution onto his arm. It causes a small burn mark that goes away after a few weeks. He has no other symptoms. What kind of exposure is this considered?
a. Acute
b. Chronic
c. Deadly
d. No Effect
The type of exposure in the given situation is acute.
Given that,
As there is a chemical blaze in Howard's arm.Because of this, Howard has a tiny burn mark that disappears in the coming weeks also he won't have any kind of mark or symptoms.It is classified as an acute exposure due to burning.Thus we can say that the type of exposure in the given situation is acute.
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1. capital gains
3
money paid from a company's earnings to people who own stock in that company
2. commission
6
the income a business makes
3. dividends
5
money the bank gives you when you keep your money in one of their accounts
4. entrepreneur
4
a person who takes a risk to create a new product or develop a better way to operate a business
5. interest
1
income earned by the sale of assets, such as stocks or property, the gain of which is the difference between the price paid and the selling price
6. revenue
2
a fee paid to employees for their sale or services, the amount of which is usually based on a percentage of the sale price
Answer:
CAPITAL GAINS - income earned by the sale of assets, such as stocks or property, the gain of which is the difference between the price paid and the selling price
COMMISSION - a fee paid to employees for their sale or services, the amount of which is usually based on a percentage of the sale price
DIVIDENS - money paid from a company's earnings to people who own stock in that company
ENTREPRENEUR - a person who takes a risk to create a new product or develop a better way to operate a business
INTEREST - The income a business makes
REVENUE - money the bank gives you when you keep your money in one of their accounts
Answer:
1. capital gains
income earned by the sale of assets, such as stocks or property, the gain of which is the difference between the price paid and the selling price
2. commission
a fee paid to employees for their sale or services, the amount of which is usually based on a percentage of the sale price
3. dividends
money paid from a company's earnings to people who own stock in that company
4. entrepreneur
a person who takes a risk to create a new product or develop a better way to operate a business
5. interest
money the bank gives you when you keep your money in one of their accounts
6. revenue
the income a business makes
Explanation:
I did it
Give me an example when you were given constructive criticism and how did you react?
Constructive criticism is a valuable tool for personal and professional growth. It provides an opportunity to learn from mistakes and improve oneself. The key to receiving constructive criticism is to remain open-minded, receptive, and willing to learn.
Suppose someone gives you constructive criticism. In that case, it is essential to listen carefully and try to understand their perspective without becoming defensive or dismissive. Acknowledge the feedback, thank the person for their input, and ask questions to clarify their points. Once you understand the feedback, take time to reflect on it and consider how you can use it to improve your work. It's essential to remain positive and take the criticism as an opportunity to grow and develop your skills. In summary, receiving constructive criticism can be challenging, but it's essential to remain open-minded and receptive to feedback. By doing so, you can use the feedback to improve and achieve your goals.
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the sales tax rate is 7%. if jim bought a new buick and paid a sales tax of $1,820, what was the cost of the buick before the tax?
The cost of the Buick before the sales tax is $25,971.14. This can be calculated by taking the sales tax of $1,820 and dividing it by the sales tax rate of 7%, which is 0.07. Once you have the decimal form of the sales tax rate, you can multiply it by the amount paid in sales tax.
The result of this calculation is $25,971.14, which is the cost of the Buick before the sales tax was applied.
To understand this better, let's break it down:
Step 1: Take the sales tax rate and convert it to a decimal by dividing it by 100. In this example, 7% would be 0.07.
Step 2: Multiply the decimal form of the sales tax rate by the amount paid in sales tax. In this example, 0.07 multiplied by $1,820 is $127.40.
Step 3: Subtract the amount from Step 2 from the total amount paid for the Buick. In this example, $1,820 minus $127.40 is $1,692.60.
Step 4: Divide the amount from Step 3 by the decimal form of the sales tax rate from Step 1. In this example, $1,692.60 divided by 0.07 is $24,171.14.
This is the cost of the Buick before the sales tax was applied.
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Which expense category will most likely be changed to allow money for the purchase of a car?
O savings
groceries
Outilities
o entertainment
It is likely that the savings category will be changed to allow money for the purchase of a car.
What is saving?Saving refers to the act of setting aside a portion of income or resources for future use. It is a critical aspect of personal finance as it allows individuals to plan for their long-term financial goals and provides a safety net in case of unexpected expenses or emergencies.
Saving can be done in a variety of ways, such as opening a savings account, investing in stocks or other assets, or simply keeping cash in a safe place. The amount saved can be small or large, depending on one's income and financial goals.
Some people save for specific goals, such as a down payment on a house or a college education for their children, while others save to build an emergency fund or to save for retirement.
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How would you describe the dangers of debt to a friend?
Answer:
I would explain to them that the danger of debt. Can lead to credit going down. When you don’t pay your debt, and you get behind your credit can go down
Intro The annual risk-free interest rate is 8% in the U.S. and 6% in Mexico. The spot rate is $0.052 per peso and the one-year forward rate is $0.054 per peso. Part 1 | Attempt 1/5 for 10 pts. Who can profit from covered interest arbitrage, and how? Ignore taxes and transaction costs. No one can profit from covered interest arbitrage. U.S. investors can profit by buying pesos and investing in Mexico. U.S. investors can profit by selling pesos and investing in the U.S.. Mexican investors can profit by selling dollars and investing in Mexico. Mexican investors can profit by buying dollars and investing in the U.S.
U.S. investors can profit from covered interest arbitrage by buying pesos and investing in Mexico. To do this, they should follow these steps:
1. Convert U.S. dollars to Mexican pesos using the spot rate of $0.052 per peso. 2. Invest the pesos in Mexico at the annual risk-free interest rate of 6%.
3. Simultaneously enter a one-year forward contract to exchange the future Mexican peso principal and interest at the forward rate of $0.054 per peso.
4. At the end of the year, the U.S. investor will receive their principal and interest in pesos, which they can then convert back to U.S. dollars using the pre-determined forward rate.
By doing this, U.S. investors can earn a higher return than if they invested in the U.S. at the 8% annual risk-free interest rate.
This is because the covered interest arbitrage takes advantage of the interest rate differential and the currency forward rates.
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Cities in East Africa heavily affected by a high level of__________ often cannot build infrastructure fast enough to keep up with demand.
Cities in East Africa heavily affected by a high level of population growth often cannot build infrastructure fast enough to keep up with demand.
Population growth refers to the increase in the number of people living in a particular area over time. In East Africa, many cities are experiencing rapid population growth due to factors such as high birth rates, rural-urban migration, and improved healthcare leading to longer life expectancy.
The high level of population growth puts significant pressure on existing infrastructure, including transportation systems, housing, water supply, and sanitation facilities. As the population increases, the demand for these services also rises, often overwhelming the capacity of the city to provide them.
One reason cities struggle to keep up with the demand is the lack of financial resources. Building infrastructure requires substantial investments, and cities in East Africa may not have enough funds to meet the growing demand. Additionally, bureaucratic processes and corruption can further delay infrastructure projects.
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what would be the total nonspendable fund balance? multiple choice $70,800 $69,000 $150,000 $410,500
The total nonspendable fund balance would be $150,000.
The nonspendable fund balance refers to the portion of funds that cannot be spent or used for current expenses. It typically includes items such as inventories, long-term prepaid expenses, or resources that are legally or contractually required to be maintained intact. Among the given options, $150,000 is the only amount that represents a nonspendable fund balance. The other options, $70,800, $69,000, and $410,500, do not align with the concept of nonspendable fund balance and are likely unrelated figures. Therefore, the correct answer is $150,000.
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Stockholders equity consists of which of the following? O Long-term assets. O Paid-in capital and retained earnings. O Paid-in capital and par value. O Retained earnings and cash.
A. Shareholders equity consists of paid-in capital and retained earnings.
Shareholders' equity, also known as stockholders' equity, is the ownership interest that shareholders have in a company. It is calculated by subtracting the company's total liabilities from its total assets.
Shareholders' equity consists of two main components: paid-in capital and retained earnings. Paid-in capital is the amount of money shareholders have invested in the company by purchasing shares of stock.
Retained earnings are the profits that the company has earned, which are then reinvested into the company to finance growth and expansion.#
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What is NOT an advantage of being an entrepreneur?
Answer: Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business
Answer:
The advantages of entrepreneurship include the ability to shape one's own business, control of one's own working habits, and significant stock in the venture. Disadvantages include a lack of guarantee of success and the heightened responsibility of owning a business.
Explanation:
What is a negative effect of free trade agreements?
Answer: in particular deplorable working conditions, job loss, economic damage to some countries, and environmental damage globally.
Explanation:
in particular deplorable working conditions, job loss, economic damage to some countries, and environmental damage globally.
10)
How might a mission statement help Donna with her new
business?
A mission statement can help Donna with her new business by providing clarity and direction for her venture. It serves as a guiding statement that outlines the purpose, values, and goals of the business.
It helps Donna align her decisions, actions, and strategies with the overall mission, facilitating focus and consistency in her business operations. A mission statement is a concise statement that articulates the purpose and core values of a business. It outlines what the business aims to achieve and how it intends to operate. For Donna, having a mission statement for her new business can provide several benefits.
Firstly, it helps Donna define the purpose and direction of her business. It clarifies the reason for starting the business and what it aims to accomplish, providing a sense of focus and clarity.
Secondly, a mission statement helps Donna communicate her business's values and principles to stakeholders, including employees, customers, and investors. It sets the foundation for building a strong company culture and aligning everyone's efforts toward a common goal.
Lastly, a mission statement can serve as a guide for decision-making and strategy development. When faced with choices or challenges, Donna can refer to her mission statement to ensure that her actions align with the overall purpose and values of her business.
A mission statement plays a crucial role in helping Donna with her new business by providing clarity, guiding decision-making, and aligning stakeholders toward a common vision.
In conclusion, a mission statement can significantly benefit Donna in her new business. It provides clarity and direction, communicates values to stakeholders, and guides decision-making and strategy development. By establishing a mission statement, Donna can effectively define her business's purpose and goals, foster a strong company culture, and make informed decisions that align with her business's overall mission. This helps create a solid foundation for success and growth in her new venture.
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bonner's, incorporated borrowed $36,000 for 4 months on a discount basis. the lender used an interest rate of 8% to calculate the discount. the amount of cash bonner's, incorporated actually had available to use from this loan was:
The amount of cash Bonner's, Incorporated actually had available to use from this loan was $35,040.
When a loan is made on a discount basis, the interest is deducted from the loan amount, and the borrower receives the remaining amount.
In this case, the loan amount is $36,000, and the interest rate used to calculate the discount is 8%. We can calculate the discount as follows:
Discount = Loan amount x Interest rate x Time
Discount = $36,000 x 8% x (4/12) = $960
The discount of $960 is deducted from the loan amount to determine the actual cash available to Bonner's, Incorporated:
Cash available = Loan amount - Discount
Cash available = $36,000 - $960 = $35,040
the amount of cash bonner's, incorporated actually had available to use from this loan was:$35,040.
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When must Glenda, a licensee at Roberts Real Estate, provide a written agency relationship disclosure to all parties for whom she is providing service?A. Before Glenda shows a buyer any propertiesB. At any open houses that Roberts holdsC. After a buyer makes an offer on a propertyD. Before a buyer signs an offer in a transaction she is handling
The correct answer is D. Before a buyer signs an offer in a transaction she is handling. Glenda, as a licensee at Roberts Real Estate, must provide a written agency relationship disclosure to all parties for whom she is providing service before a buyer signs an offer in a transaction she is handling.
Explanation:
As a licensee at Roberts Real Estate, Glenda is required to provide a written agency relationship disclosure to all parties for whom she is providing service. This is a legal requirement and failure to provide such a disclosure can result in legal repercussions for the licensee and the brokerage firm.
The disclosure must be provided before a buyer signs an offer in a transaction that Glenda is handling. This means that Glenda must disclose the agency relationship to the buyer before they make an offer on a property. The disclosure must also be made in writing, which can be done through a form provided by the brokerage firm or through a separate document.
Providing the disclosure after a buyer makes an offer on a property or at an open house is not sufficient. The disclosure must be made before the buyer signs an offer in a transaction that Glenda is handling.
It is important for Glenda to provide the disclosure in a timely and accurate manner to ensure that all parties involved in the transaction are aware of the agency relationship and their respective roles and responsibilities. This helps to avoid misunderstandings and potential legal issues down the line.
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An employment practice that lacks discriminatory content but still leads to discrimination is known as a(n):_________
An employment practice that lacks discriminatory content but still leads to discrimination is known as a facially neutral employment practice
What is employment practice?Any method of recruiting, selecting, transferring, or promoting employees, as well as any benefit clause or other element of the employer's employment process that serves as a tool for analysis or screening, falls within the definition of an employment practice.
What is discriminatory content ?Communication on a particular topic is restricted when the government discriminates based on the content of speech. When something discriminates based on a person's point of view, it is treating that person's viewpoint differently than it does other people's views on the same issue.
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In the Month of March, Baldwin received orders of 156 units at a price of $15.00 for their product Bolt, and in April receives an order for 39 units of their product Bolt at $15.00. Baldwin uses the accrual method of accounting and offers 30-day credit terms. Baldwin delivers 0 units in March, 156 units in April and 39 units in May. They received payment for 156 units in April and payment for 39 units in May.
Required:
How much revenue is recognized on the March income statement from this order?
Which examples demonstrate tasks commonly performed in Visual Arts jobs? Check all that apply. Cliff sets up video equipment at a music concert. Rhonda installs and repairs home electronic equipment in customers’ homes. Gary attends a state fair to sell his handmade clothing in a booth. Christopher dances in a large ballet production on a stage. Yolanda uses a computer tablet to draw an illustration for a textbook. Shirley has a meeting with a customer to discuss a wedding she will be photographing.
Answer:
3
5
6
Explanation:
Three types of lobbying?
Which of these is the per-hour labor productivity of a factory that can produce 1,500 mops in 90 minutes?
A.900
B.150
C.1,000
D.500
Gerrad Manufacturing has projected sales of its product for the next six months as follows:
January 300 units
February 700 units
March 1,000 units
April 900 units
May 400 units
June 300 units
The finished product requires 3 pounds of raw material and 10 hours of direct labor. Gerrad tries to maintain a Finished Goods ending inventory equal to the next two months of sales and a Raw Material ending inventory equal to one-half of the current month's production needs. January's beginning inventories are expected to conform to company policy.
a. Prepare a production budget for February, March, and April.
b. Prepare a forecast of the units and cost of raw material that will be required for February, March, and April. The expected cost per pound of raw material is expected to be $2 in February, $2.30 in March, and $2.40 in April.
c. Prepare a direct labor budget (assuming a $12 per hour rate) for February, March, and April.
a) Production Budget For February, March, and April, the Production Budget is shown below:FebruaryMarchAprilExpected Sales7001000900Add: Desired Ending Finished Goods Inventory14002000200Total Units to be Produced84012001100Deduct: Beginning Finished Goods Inventory 0 (January)7001000Production Needs8401200900b)
Raw Materials BudgetThe quantity and expense of raw materials expected to be used in the next three months are shown below:FebruaryMarchAprilUnits of Production7001000900Raw Material Quantity (pounds)2,1003,0002,700Raw Material Cost$4,200$6,900$6,480Total Raw Material Cost$17,580c) Direct Labor Budget.The direct labor budget for February, March, and April is presented in the table below:FebruaryMarchAprilUnits of Production7001000900Direct Labor-Hours7,00010,0009,000Direct Labor Cost$84,000$120,000$108,000Note that the rate per hour is $12 per hour.
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What is significance of evaluating PeCS of a successfull entrepreneur? What insights can you draw from this activity?
Answer:
It is very important to assess one's personal entrepreneurial competencies (PECs) in order to know the strengths and weaknesses of the entrepreneur. In that manner, the entrepreneur can design a plan to compensate for his weaknesses and develop his strength in order to deliver the excellency that was expected of him.
Ron is 22 and claimed 0 withholdings on his W-4 when he started his job. What does this mean?
It means that he paid nothing in taxes and will owe money when he files his tax return.
It means that he opted to have $0 withheld to go to taxes, his retirement, or healthcare.
It means that he had the MOST amount in taxes withdrawn from his paycheck and he will likely get a refund.
It means that he had the LEAST amount in taxes withdrawn from his paycheck and he will likely owe money
If Ron, who is 22 years old, listed 0 withholdings on his W-4 when he started working, he did not request that any money be deducted from his paychecks for taxes. As a result, no money will be deducted from Ron's paycheck to cover federal income taxes, Social Security taxes, or Medicare taxes. Here option B is the correct answer.
Ron will receive his full paychecks if he claims 0 withholdings on his W-4, but he will be in charge of paying all of his taxes when he submits his tax return.
Ron can have a higher tax burden when he files his taxes as a result since no money was deducted from his wages throughout the year to assist with paying his taxes.
In order to avoid having a significant tax debt when you submit your tax return, it is often a good idea to have some money withheld from your paycheck for taxes. But because every person's tax status is unique, it's feasible that Ron should claim 0 withholdings on his W-4 based on his particular scenario.
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how is this the answer
Answer:
what?
Explanation:
Marvel decided that since viewers like to binge-watch an entire season of a show in one sitting on netflix it would create a new channel for getting new offerings to consumers. This reflects a ________ strategy.
The decision by Marvel to start up a new channel based on what it noticed at Netflix is the Product Development strategy.
Product Development strategy Method used by companies to offer new products to customers. Involves looking at current products to develop newer and better ones.Marvel looked at the product being offered by Netflix and decided to use it to offer an even better product by opening a channel.
In conclusion, this is product development.
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When an economy produces more smartphones and fewer cars, it is answering the?
When an economy produces more smartphones and fewer cars, it is answering the 'what' question.
What is an economy?
A complex system of linked trading, consumption, and production activities make up an economy, and it ultimately decides how resources are distributed among all the players. The requirements of persons who live and work inside the economy are met by the creation, consumption, and distribution of products and services. A country, a region, a single industry, or even a family may be represented by an economy. Every economy is different. Each is shaped by the resources, laws, cultures, histories, and geographies that are unique to it. Each change as a result of the individuals' decisions and behaviours. These choices are decided using a combination of collective or hierarchical decision-making and market transactions.
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