Answers
Most judicial rulings that do not apply legislative acts (often referred to as statutes) will fall under one of the following three categories of law: property, contract, or tort..
We are all aware that the government has the authority to enforce "the law," which governs what we may and cannot do. But what precisely is "the law"? What forms does it take, and from where does it originate? Statutory law, sometimes known as statutes, is one of several different categories of legislation.
A statute is a piece of legislation that has been passed by a legislature, which is the body that has been given the authority by a constitution to pass laws. A statute becomes a law after it is passed, making it a component of statutory law. The U.S. Congress serves as the country's federal legislature.
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Related Questions
2. You want to convince your employees to sign up for the new health maintenance
program that your company offers because it is cheaper than the older program.
However, you expect most employees to stay with the more expensive program as it
covers more physicians. Which of the following persuasive strategies will be most
effective in this case?
Answers
Because the audience is probably going to value emotion as a way of problem-solving in this situation, the persuasive tactic will be most successful.
To succeed in "persuasive strategy," one must balance reason and passion.
The three different categories of persuasive tactics are pathos, ethos, and logos. The most persuasive writing typically combines all three tactics. While ethos relies on the authority of the author or source as justification for action, logos draw conclusions using logic or reason.
It is significant to note that your ability to persuade others affects their behavior. Arguments are used in persuasion to persuade others to follow your path. The way you express your views to others might have an effect on how others interpret a certain issue or concept.
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What is the PV of an ordinary annuity with 7 annual payments of $10,000 each if the appropriate annual interest rate is 5%?
Answers
Answer:
PV= $57,8563.73
Explanation:
Giving the following information:
Number of periods= 7 years
Annual cash flow= $10,000
Interest rate= 5%
First, we need to calculate future value:
FV= {A*[(1+i)^n-1]}/i
A= annual cash flow
FV= {10,000*[(1.05^7) - 1]} / 0.05
FV= $81,420.08
Now, the present value:
PV= FV/(1+i)^n
PV= 81,420.08/1.05^7
PV= $57,8563.73
Hawley owned a Buick, and occasionally had work done on it at the Hoff Garage. One day he drove up with a flat tire, parked his car beside the garage, and called to Hoff that he had a flat tire and would be back in an hour. Hoff fixed the tire. Hawley refused to pay, saying that he had intended doing the job himself. (a) Was there a contract? Explain. (b) Suppose Hoff also adjusted the carburetor and straightened a fender. Could he recover for this? Explain
Answers
Answer:
A. Yes. Implicit contract
B. No he cannot
Explanation:
A. From what happened there seemed to be an implied contract between these two people. Although this contract was not done formally, given past situations, an implied contract was formed over time. Hoff felt hawley had dropped the car off for repair given that he usually did this. Hawley cannot make a case that he was going to fix it himself.
B. Hoff cannot recover for the carburetor or fender because the question did not say hawley asked him to do so. If he did it without consent then there is no recovery.
what is the minimum wage for SA
Answers
the new National Minimum Wage for South Africa has been made public by the Department of Employment and Labour. Starting on March 1st, 2023, the current minimum wage of R23,19 per hour will increase to R25,42 per hour (an increase of around 9,6%).
The minimal amount of compensation that an employer is compelled to pay wage earners for the job completed during a particular period, which cannot be reduced by a collective agreement or an individual contract, is referred to as the "minimum wage."The South African government may impose penalties on employers who fail to pay the minimum wage. If a defined weekly wage is used, the monthly wage is multiplied by 4.33. If an hourly rate is specified, it is computed as 4.33 times the weekly average.
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BMX Company has one employee. FICA Social Security taxes are 6.2% of the first $128,400 paid to its employee, and FICA Medicare taxes are 1.45% of gross pay. For BMX, its FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to its employee. Gross Pay through August 31 Gross Payfor September
A. $5,900
B. 3,400
C.123,500
a. $1,400
b. 3,500
c. 9,400
Taxes to be Withheld From Gross Pay (Employee-Paid Taxes)
September Earnings Subject to Tax Tax Rate Tax Amount
Federal income tax $80.00
FICA—Medicare
FICA—Social Security
Answers
Answer:
Gross Pay through August 31 Gross Pay for September
A. $5,900 $1,400
B. $3,400 $3,500
C. $123,500 $9,400
For A)
Taxes to be withheld from employee:
FICA - Social Security = $1,400 x 6.2% = $86.80
FICA - Medicare = $1,400 x 1.45% = $20.30
Taxes to be paid by employer:
FICA - Social Security = $1,400 x 6.2% = $86.80
FICA - Medicare = $1,400 x 1.45% = $20.30
FUTA = ($7,000 - $5,900) x 0.6% = $6.60
SUTA = ($7,000 - $5,900) x 5.4% = $59.40
B)
Taxes to be withheld from employee:
FICA - Social Security = $3,500 x 6.2% = $217
FICA - Medicare = $3,500 x 1.45% = $50.75
Taxes to be paid by employer:
FICA - Social Security = $3,500 x 6.2% = $217
FICA - Medicare = $3,500 x 1.45% = $50.75
FUTA = $00 x 0.6% = $21
SUTA = $3,500 x 5.4% = $189
C)
Taxes to be withheld from employee:
FICA - Social Security = ($128,400 - $123,500) x 6.2% = $303.80
FICA - Medicare = $9,400 x 1.45% = $136.30
Taxes to be paid by employer:
FICA - Social Security = ($128,400 - $123,500) x 6.2% = $303.80
FICA - Medicare = $9,400 x 1.45% = $136.30
FUTA = $0
SUTA = $0
The taxes to be withheld from the employee for FICA- Social Security is $86.80 while for FICA - Medicare is $20.30.
The Federal Insurance Contributions Act is a Federal payroll tax and it's deducted from the paycheck of a person.
The taxes to be withheld from employee will be calculated thus:
FICA- Social Security = $1,400 x 6.2% = $86.80FICA - Medicare = $1,400 x 1.45% = $20.30The taxes to be paid by the employer will be calculated thus:
FICA - Social Security = $1,400 x 6.2% = $86.80FICA - Medicare = $1,400 x 1.45% = $20.30FUTA = ($7,000 - $5,900) x 0.6% = $1100 × 0.6% = $6.60SUTA = ($7,000 - $5,900) x 5.4% = $1100 × 5.4% = $59.40B) Taxes to be withheld from the employee will be:
FICA - Social Security = $3,500 x 6.2% = $217FICA - Medicare = $3,500 x 1.45% = $50.75The taxes to be paid by the employer will be:
FICA - Social Security = $3,500 x 6.2% = $217FICA - Medicare = $3,500 x 1.45% = $50.75FUTA = $3500 x 0.6% = $21SUTA = $3,500 x 5.4% = $189C) The taxes to be withheld from employee will be:
FICA - Social Security = ($128,400 - $123,500) x 6.2% = $303.80FICA - Medicare = $9,400 x 1.45% = $136.30The taxes to be paid by employer will be:
FICA - Social Security = ($128,400 - $123,500) x 6.2% = $303.80FICA - Medicare = $9,400 x 1.45% = $136.30FUTA = $0SUTA = $0Read related link on:
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Which of the following best describes a player's role in any game?
O A. The name of his or her character.
O B. The number of turns he or she gets to take.
O C. The way he or she scores points.
O D. The actions expected of him or her.
Answers
At the end of a fiscal period, expense accounts are closed through
Answers
Answer:
see the explanation
Explanation:
The temporary accounts get closed at the end of an accounting year. Temporary accounts include all of the income statement accounts (revenues, expenses, gains, losses), the sole proprietor's drawing account, the income summary account, and any other account that is used for keeping a tally of the current year amounts.
2. In what type of government do you have a great deal of freedom as well as duties?
O Authoritarianism
O Anarchy
O Monarchy
Democracy
Answers
Here is an alphabetical list of the different types of governments in the globe, ranging from the absolute monarchy through totalitarianism.
What are the four different types of government?Governmental Structures Monarchy, democracy, oligarchy, and more
Each kind of government takes the throne and establishes its own particular system of rule. Learn more about how each type of government operates, including the monarchy, democracy, oligarchy, authoritarianism, and totalitarianism.
What are the seven different types of government?A few of the various forms of government are direct democracy, representative democracy, socialism, communism, monarchy, oligarchy, and autocracy.
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Work in Process consists of ______. Multiple select question. applied manufacturing overhead applied direct materials cost actual direct labor cost actual direct materials cost actual manufacturing overhead applied direct labor cost
Answers
Work in process consist direct material cost, actual direct labor cost and applied manufacturing overhead.
What is work in process?Work in process is also called work in progress
refers to the production cost of goods which have not been completed in production. These include cost of raw materials and the cost of labour or additional overheads incurred during the production and of partially completed product, such as storage.
Therefore, Work in process consist direct material cost, actual direct labor cost and applied manufacturing overhead.
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Work in Process consists of Direct (or raw) Materials, direct labor costs, and manufacturing overhead. It forms part of the inventory asset account, usually found on the left side of the balance sheet.
Another name for Work in Process is goods-in-process.
What is an example of Work in Process?Manufactured goods are an example of Work in Process.
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True or False. If the price of oil suddenly increases by a large amount, AS will shift left, but the price level will not rise thanks to price inflexibility.
Answers
False.
If the price of oil suddenly increases by a large amount, it is likely that the aggregate supply curve (AS) will shift left, indicating that there is less supply of goods and services available at each price level. This shift in the AS curve would lead to an increase in the overall price level, as there is now less supply available to meet the same level of demand. Price inflexibility, or the inability of prices to adjust quickly to changes in supply and demand, may cause the price level to rise more slowly than it otherwise would, but it is not likely to prevent the price level from rising altogether.
Kyoko is a hard-working college senior. One Saturday, she decides to work nonstop until she has answered 150 practice problems for her math course. She starts work at 8:00 AM and uses a table to keep track of her progress throughout the day. She notices that as she gets tired, it takes her longer to solve each problem.
Time
Total Problems Answered
8:00 AM 0
9:00 AM 60
10:00 AM 105
11:00 AM 135
Noon 150
Use the table to answer the following questions.
The marginal, or additional, benefit from Kyoko’s second hour of work, from 9:00 AM to 10:00 AM, is
45
problems.
The marginal benefit from Kyoko’s fourth hour of work, from 11:00 AM to noon, is
15
problems.
Later, the teaching assistant in Kyoko’s math course gives her some advice. “Based on past experience,” the teaching assistant says, “working on 52.5 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour.” For simplicity, assume students always cover the same number of pages during each hour they spend reading.
Given this information, in order to use her 4 hours of study time to get the best exam score possible, how many hours should she have spent working on problems, and how many should she have spent reading?
1 hour working on problems, 3 hours reading
2 hours working on problems, 2 hours reading
3 hours working on problems, 1 hour reading
4 hours working on problems, 0 hours reading
Answers
Answer:
c
Explanation:
my bunnies Lola (gray and white) and Sylvester (brown)
Answers
Answer:
cute
Explanation:
theyre so cute
Answer:
omg your bunnies are SO cute!
Explanation:
:D
Difference between planning organising leading controlling
Answers
Explanation:
Planning and Decision Making: Determining Courses of Action,
Organizing: Coordinating Activities and Resources, Leading: Managing, Motivating and Directing People, Controlling: Monitoring and Evaluating activities.
Answer:
Planning is the process of setting goals and defining the actions required to achieve the goals.
Organizing means to arrange or order things so that they can be found or used easily and quickly
Leading means like a leader or coming or ranking first place
Someone who is “controlling” tries to control situations to an extent that is unhealthy or tries to control other people
Explanation:
Have great day :)
Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table
Activity | Immediate Predecessor | Optimistic | Most Likely Pessimistic
A — 5 6 7
B — 8 8 11
C A 6 8 11
D — 9 12 15
E C 5 6 9
F D 5 6 7
G F 2 3 7
H B 4 4 5
I H 5 7 8
End E, G, I
b. Suppose it is now the end of the seventh day and that activities A and B have been completed while activity D is 50 percent completed. Time estimates for the completion of activity D are 5, 6, and 7. Activities C and H are ready to begin. Determine the probability of finishing the project by day 24 and the probability of finishing by day 21. (Round your intermediate calculations to 3 decimal places and final answers to 4 decimal places.)
Answers
The precedence diagram for the problem above is attached. See the definition of a precedence diagram and the probability calculations below.
What is a precedence Diagram?A precedence diagram is an optical or graphical representation tool that displays a project's activities.
What is the probability of finishing the project by the 24th day or less?
Recall that:
z = (Specified Time - Path's mean)/Path's Standard Deviation.
Hence for z₂₁
(21 − 20.5)/1.118 = 0.447 ≈ 0.45.
Hence the probability is: P(Z<0.45) =0.6736
(21 − 21.5)/1.344 = −0.3721 ≈ −0.37
Hence the probability is: P(Z<-.37) = 0.3557
(21 − 19.5)/.726 = 2.066 ≈ 2.07
Hence the probability is: P(Z<2.07) = 0.9808
Following through on the above, the project will be finished in less than 21 days is given as:
P = 0.23499920921
P ≈ 0.2350
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How does the devaluation and appreciation of the local currency effect to balance of payment, analyze for each component
Answers
Answer: Balance of payment will worsen due to devaluation.
Explanation: The balance of payments refers to the balance of supply and demand for a country's currency in the foreign exchange market. Devaluation will make local currency weaker and foreign currency stronger. Therefore less demand for local currency in the foreign market. The imports will become expensive, more amount of local currency will be paid as it is weaker. The exports will become cheaper, more amount of local currency will be received as foreign currency is stronger than it.
Vise Versa for appreciation.
What is an important premise of Adam Smith’s conclusion about economic prosperity
Answers
An important premise of Adam Smith's conclusion on economic prosperity is that individual freedom is necessary for a society to prosper.
What is Adam Smith's thesis?The philosopher developed ideals about economic liberalism, that is, the reduction of state intervention in the economy, generating the least control over freedom of thought, work and private property.
For the author, the more individuals are motivated and encouraged to exercise their individual freedom, the more benefits society will have from the innovation and creativity of each citizen.
Therefore, economic liberalism is a similar approach to the free market, an issue that is so much discussed in an increasingly globalized society.
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Question 12
In the context of international trade restrictions, governments tend to use protective
are crucial to the domestic economy.
export duties
quorums
tariffs
voluntary export restraints
Answers
In the context of international trade restrictions, governments tend to use protective are crucial to the domestic economy: tariffs
A government is the device or institution of people governing a prepared community, normally a state A gadget of government distributes strength amongst exclusive parts and stages of the state. Political scientists examine the makes use of energy, inclusive of how energy is shipped inside a kingdom. the quantity of power held with the aid of the vital authorities determines the system of the presidency a nation has.
Government is the gadget or institution of human beings governing an organized community, commonly a kingdom. in the case of its wide associative definition, authorities usually consist of legislature, govt, and judiciary. a government is an institution or a device made of a set of human beings that takes care of or manages a country or a country. every government has its own charter or a hard and fast of fundamental standards that it follows to make sure effective governance.
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For each statement about Direct Competition and Indirect Competition,
choose True or False.
Indirect Competition is a
business whose services are
different from yours but
satisfy the same need.
All Companies that sell
goods and services are
Indirect Competitors.
When your target audience
buys products from a
competitor instead from
you, that is Indirect
Competition.
Direct Competition is a
company that offers
the same thing you
offer.
1. True
2. False
Answers
Answer:
Explanation:
1) Indirect Competition is a business whose services are different from yours but satisfy the same need.
True
2) All Companies that sell goods and services are Indirect Competitors.
False
3) When your target audience buys products from a competitor instead from you, that is Indirect Competition.
False
4) Direct Competition is a company that offers the same thing you offer.
True
Kari would like to make a down payment on a house. She currently has $7000. What interest rate must Kari receive for her investment to double in 7 years?
Answers
Answer:
10.29%
Explanation:
Rule of 72 can be defined as a metric used to determine the time it will take to double an investment based on its growth rate.
To find the interest rate Kari must receive for her investment to double in 7 years, we would use the Rule of 72;
Rule of 72 = 72/7
Rule of 72 = 10.29%
Therefore, Kari must receive an interest rate of 10.29% for her investment to double in 7 years.
La adaptación al cambio ha permitido.
a. Que las personas desarrollen sus habilidades blandas
b. Que la especie sobreviva y evolucione
c. Que los líderes persuadan a sus colaboradores a seguirlos
d. Que el hombre maneje sus emociones
Answers
El principal efecto de la adaptación al cambio para la humanidad es la evolución y supervivencia.
Todos lo seres vivos, incluyendo a la especie humana tienen la capacidad de adaptarse a cambios. Los tipos de cambios más comunes incluyen:
Cambios en la disponibilidad de recursosCompetencia con otras especiesCatástrofes naturalesEnfermedadesEstá capacidad de adaptación ha sido esencial durante cientos de años para la evolución y supervivencia de la humanidad. Aquí hay algunos ejemplos:
El cambio de una vida nómada a una vida sedentaria brindó a la humanidad la posibilidad de tener alimentos constantementePoblaciones que experimentaron desastres naturales pudieron sobrevivir adaptándose a nuevas condicionesLos cambios en la forma de sobrevivir ha llevado a la evolución. Por ejemplos el hombre evolucionó para saber como escribir, hacer fuego, construir casas, entre otros.Aprenda más en: https://brainly.com/question/17821033
Q.2Tullahoma Company purchased equipment for $27,500. It depreciated the equipment over a fiveyear life by the double-declining-balance method until the end of the second year, at which time the asset was sold for $8,500. Calculate the gain or loss on the sale at the end of the second year.
Answers
Answer:
A loss of $1400
Explanation:
The double-declining method uses twice the straight-line depreciation method rate in calculating the depreciation amount.
The asset has a useful life of 5 years. The straight-line depreciation rate = 1/5 x 100
=20%.
The double-declining rate will be 40%
The depreciation schedule for two years will be as follows.
Open. Bal Dep. rate Dep. Amount Book value
$27,500 40% $11,000 $16,500.00
$16,500 40% $6,600 $9,900.00
The equipment was sold for $8,500
net gain or loss will be the selling price - book value
=$8,500 - $9,900
=- $1,400
A loss of $1400
Why was the system of checks and balances included in the Constitution?
a to keep the President of the United States from vetoing legislation
b to slow down the process of government so it doesn't move too fast
c to prevent one branch of the government from becoming too powerful
Answers
Answer:
C to prevent one branch of the government from becoming too powerful
Cutler Corporation is authorized to issue 10,000 shares of common stock. It sells 6,000 shares at $19 per share.
Required
Record the sale of the common stock, given the following independent assumptions:
1. The stock has a par value of $10 per share
2. The stock is no-par stock, but the board of directors has assigned a stated value of $8 per share
3. The stock has no par and no stated value
Answers
Explanation:
here, D= debit , C= credit
D :Cash (6,000*19) =$114,000
C: Common Stock(6,000*10)= $60,000
C: Excess Capital in par value, Common stock =$54,000
D:Cash (6,000*19)= $114,000
C: Common Stock(6,000*8)= $48,000
C: Excess Capital in stated value, Common stock= $66,000
D: Cash (6,000*19)= $114,000
C: Common Stock(6,000*19)= $114,000
QUESTION 39
Which of the following is true regarding an exclusive agency listing?
The broker has the exclusive right to sell the property for a specified period of
O The broker operating under this listing is entitled to a commission only if he or
The seller has the right to sell the property himself or herself without being ob
O The seller must pay the broker his or her commission irrespective of who foun
Answers
Regarding an exclusive agency listing, the correct statement is:
Only if the broker who operates under this listing finds a buyer for the property is entitled to a commission.
Who are Brokers?Brokers are professionals who connect buyers and sellers of a variety of assets, including stocks, bonds, real estate, and commodities. By bringing together buyers and sellers and assisting them in negotiating deals that are advantageous to both parties, their function is to facilitate transactions.
Brokers are licensed professionals who help clients buy, sell, or rent homes in the real estate industry. They may work for a real estate agency or independently and typically receive a commission based on the transaction's value. Market research, property advertising, showing properties to potential buyers, and contract negotiation are all responsibilities of brokers. They are also in charge of making sure that the transaction goes according to all of the legal and regulatory requirements.
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The product structure overcomes one of the challenges common to a functional organization structure because it is
better able to do what?
O focus on the goods being made
O focus on the department's needs
O focus on career development
O focus on the worker
Answers
Answer:
focus on the goods being made
Wholemark is an Internet order business that sells one popular New Year greeting card once a year. The cost of the paper on which the card is printed is $0.40 per card, and the cost of printing is $0.10 per card. The company receives $3.75 per card sold. Since the cards have the current year printed on them, unsold cards have no salvage value. Their customers are from the four areas: Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 2,300 and standard deviation 200. (Assume these four are independent.)
What is the optimal production quantity for the card?
Answers
Answer:
≈ 9644 quantity of card
Explanation:
given data:
n = 4 regions/areas
mean demand = 2300
standard deviation = 200
cost of card (c) = $0.5
selling price (p) = $3.75
salvage value of card ( v ) = $ 0
The optimal production quantity for the card can be calculated using this formula below
= u + z (0.8667 ) * б
= 9200 + 1.110926 * 400
≈ 9644 quantity of card
First we have to find u
u = n * mean demand
= 4 * 2300 = 9200
next we find the value of Z
Z = ( \(\frac{p-c}{p-v}\) )
= ( 3.75 - 0.5 ) / 3.75 = 0.8667
Z( 0.8667 ) = 1.110926 ( using excel formula : NORMSINV (0.8667 )
next we find б
б = 200\(\sqrt{n}\) = 400
A sole proprietorship is a business that:
Answers
Answer:
It is an unincorporated business owned and run by one individual with no distinction between the business and the owner. You are entitled to all profits and are responsible for all your business's debts, losses and liabilities.
A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership.
hope all those information help.
The three priorities in your budget, after listing income, are
Answers
Evergreen Company sells lawn and garden products to wholesalers. The company’s fiscal year-end is December 31. During 2021, the following transactions related to receivables occurred:
Feb. 28 Sold merchandise to Lennox, Inc., for $10,000 and accepted a 10%, 7-month note. 10% is an appropriate rate for this type of note.
Mar. 31 Sold merchandise to Maddox Co. that had a fair value of $7,200, and accepted a noninterest-bearing note for which $8,000 payment is due on March 31, 2022.
Apr. 3 Sold merchandise to Carr Co. for $7,000 with terms 2/10, n/30. Evergreen uses the gross method to account for cash discounts.
11 Collected the entire amount due from Carr Co.
17 A customer returned merchandise costing $3,200. Evergreen reduced the customer’s receivable balance by $5,000, the sales price of the merchandise. Sales returns are recorded by the company as they occur.
30 Transferred receivables of $50,000 to a factor without recourse. The factor charged Evergreen a 1% finance charge on the receivables transferred. The sale criteria are met.
June 30 Discounted the Lennox, Inc., note at the bank. The bank’s discount rate is 12%. The note was discounted without recourse.
Sep. 30 Lennox, Inc., paid the note amount plus interest to the bank.
Required:
1. Prepare the necessary journal entries for Evergreen for each of the above dates. For transactions involving the sale of merchandise, ignore the entry for the cost of goods sold.
2. Prepare any necessary adjusting entries at December 31, 2021. Adjusting entries are only recorded at year-end.
3. Prepare a schedule showing the effect of the journal entries on 2021 income before taxes
Answers
Answer:
Evergreen Company
1. Necessary Journal Entries for Evergreen involving the sale of merchandise:
Feb. 28 Debit Notes Receivable (Lennox Inc.) $10,000
Credit Sales Revenue $10,000
To record the sale of goods on credit, terms 10% 7-month note.
Mar. 31: Debit Notes Receivable (Maddox Co.) $8,000
Credit Sales Revenue $7,200
Credit Interest Receivable $800
To record the sale of goods on credit.
Apr. 3 Debit Accounts Receivable (Carr Co.) $7,000
Credit Sales Revenue $7,000
To record the sale of goods with terms 2/10, n/30.
Apri. 11 Debit Cash Account $6,860
Cash Discount Allowed $140
Credit Accounts Receivable (Carr Co.) $7,000
To record the collection on account.
Apr. 17 Debit Sales Returns $5,000
Credit Accounts Receivable $5,000
To record the return of goods on account.
Apr. 30 Debit Cash Account $49,500
Debit Finance Charges $500
Credit Accounts Receivable $50,000
To record the transfer of receivables to a factor without recourse and 1% finance charge.
June 30 Debit Cash Account $8,800
Debit Finance Charges $1,200
Credit Notes Receivable $10,000
To record the discounting of the note at the bank at 12%.
2. Necessary Adjusting Journal Entries at December 31, 2021:
3. A Schedule showing the effect of the journal entries on 2021 income before taxes:
Sales revenue $10,000
Sales Revenue 7,200
Sales Revenue 7,000
Discount Allowed (140)
Interest Receivable 800
Sales Returns (5,000)
Finance charges (500)
Finance charges (1,200)
Explanation:
Finance charge of $500 = ($50,000 * 1%). Factoring accounts receivable enables Evergreen to collect on its accounts receivable before the due date. This usually attracts some finance charges. Sales without recourse means that the factoring company and not Evergreen accepts the risk associated with credit default. Sales with recourse implies that Evergreen retains the risk arising from credit default.
Identify which of the following are properly reported in a statement of cash flows. (Check all that apply.)
Answers
In the statement of cash flows, these transactions would be listed under investing activities from
Investments in securities and plant assets were purchased with cash. The correct option is A. Cash flows from operating activities
Your organization's cash flow articulation depends on the cash flow from successful management operations, which is used to demonstrate the impact of these efforts on cash flow. For this action, figure out how to compute it. Contributing activities refer to any transactions that directly affect long-term assets.
This may include buying a building, giving away equipment, or investing money in stocks. Once completed, information on the cash flow proclamation of an organisation is given to these activities.Every time a delayed resource is purchased, organization's cash flow is reduced.
complete question:
Identify which of the following are properly reported in a statement of cash flows. (Check all that apply.)
Options for this question include:
A. Cash flows from operating activities
B. Cash flows from financing activities
C. Cash flows from investing activities
D. Cash flows from income actvities
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