On July 31, the payroll register for White Sales Company showed the following totals for the month: gross earnings, $37,900; social security tax, $2,349.80; Medicare tax, $549.55; income tax, $3,000.55; and net amount due, $32,000.10. Of the total earnings, $30,068.46 was for sales salaries and $7,831.54 was for office salaries. Prepare a general journal entry to record the monthly payroll of the firm on July 31. (Round your final answers to 2 decimal places.) View transaction list Journal entry worksheet 1 > Record the payroll expense and related taxes payable. Note: Enter debits before credits. Date General Journal Debit Credit July 31 Record entry Clear entry View general journal
Answers
The official record of every company activity is a journal entry. A transaction is, in the broadest sense, any financial activity that has an impact on the firm.
General Journal
Date Accounts Titles Debit Credit
Jul-31
Sales Salaries Expense $ 30,068.46
Office Salaries Expense $ 7,831.54
Social Security tax Payable $ 2,349.80
Medicare tax payable $ 549.55
Income tax payable $ 3,000.55
Salaries payable $ 32,000.10
To record the monthly payroll of the firm on July 31
The official record of every company activity is a journal entry. A transaction is, in the broadest sense, any financial activity that has an impact on the firm.
They encompass all exchanges involving the movement of money, including interest payments, depreciation, costs, and payroll. They encompass more than just the exchange of goods and services. Instead of being processed automatically like invoices or cash receipts are, general journal entries are manually entered into the general ledger.
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Related Questions
Tim is 16 years old,a high school student, and lives with hi parents.He earned $5,200 and his part-time job. Select the best possible answer.(Only 1 answer)
Answers
Answer:
the second one
Explanation:
prettyu sure,
only can claim is tim parents and he has no other choice but to return the file tax return
Current tax laws allow Tim's parents to claim Tim as a dependent; Tim has the option to file a tax return
According to the IRS, Tim can be claimed as a dependent by his parents because:
He is their son He is a student who is younger than 23 He lives with his parentsHe also has the option but not the obligation to file a tax return because his gross income is less than $12,200 as a dependent.
In conclusion, Tim can be claimed as a dependent by his parents but he does not have to file a tax return.
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Jennifer buys a typewriter for $590. She puts 20% down and will pay $70 a month for the next 10 months. What's the total amount of monthly payments?
$700 ---- correct answer
$750
$850
$1,000
Answers
The total amount of monthly payments for Jennifer who buys a typewriter is $850.
What are payments?Payments refer to the transfer of money from one party to another in exchange for goods, services, or debts. They can be made using a variety of methods, including cash, checks, credit and debit cards, electronic funds transfer (EFT), mobile payments, and cryptocurrencies. Payments are an essential aspect of commerce and are used in both personal and business transactions. They enable individuals and companies to purchase goods and services, pay bills, and transfer money to others. With the increasing use of technology, payments have become more convenient and accessible, allowing people to make transactions from anywhere and at any time. The security and reliability of payment methods are crucial, and various measures are taken to protect against fraud and ensure the safety of transactions.
Jennifer puts 20% down on the typewriter= 0.2 * $590 = $118
Amount that Jennifer needs to finance= $590 - $118 = $472
Total amount of her monthly payments= $70 * 10 = $700
The total amount of Jennifer's payments, including her down payment=
$118 + $700 = $818
So, the closest answer is $850.
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by learning that the demand for bikes is going to increase, a
bike producing company can take steps to increase production and introduce new
models of motorbikes to lure new customers. This is what Hero Honda did in the
1990s to establish its leading position in the Indian bike market. ( Identify the importance of environmental scanning stated )
Answers
Answer:
how
Explanation:
Should governments allow professional lobbyists to influence government legislation?
Answers
Governments should only allow professional lobbyists to influence government legislation when doing so is in the public's best interests.
Professional lobbyists are groups of people, such as corporations or trade associations, with an interest in the passage of certain legislation. They attempt to influence government legislation by providing the government with information and research to support their interests.
Lobbyists also coordinate meetings between their clients and government representatives and provide contributions to political campaigns.
Allowing professional lobbyists to influence government legislation can be beneficial, as it can provide government representatives with valuable information and research to inform their decision-making.
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Which customer service client is external to an organization?
department manager
consumer
CFO
sales representative
TIMEDD TEST
Answers
Answer: sale representative
Explanation:
The units of an item available for sale during the year were as follows: Jan. 1 Inventory 11 units at $41 $451 Aug. 13 Purchase 17 units at $44 748 Nov. 30 Purchase 18 units at $46 828 Available for sale 46 units $2,027 There are 28 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the (a) first-in, first-out (FIFO) method; (b) last-in, first-out (LIFO) method; and (c) weighted average cost method (round per-unit cost to two decimal places and your final answer to the nearest whole dollar). a. First-in, first-out (FIFO) $ b. Last-in, first-out (LIFO) $ c. Weighted average cost $
Answers
Answer:
A. $1,620
B.$1,199
C. $1,234
Explanation:
A. Calculation to Determine the inventory cost using the first-in, first-out (FIFO) method
First in first out = (18*46+18*44)
First in first out =$828+$792
First in first out =$1,620
Therefore the inventory cost using the first-in, first-out (FIFO) method is $1,620
B. Calculation to determine the inventory cost using the last-in, first-out (LIFO) method
Last in first out = (11*41+17*44)
(11-28=17)
Last in first out =$451+$748
Last in first out =$1,199
Therefore the inventory cost using the last-in, first-out (LIFO) method is $1,199
C.Calculation to determine the inventory cost using the Weighted average cost method
Weighted average = ($2,027/46)*28
Weighted average =$44.0652*28
Weighted average =$1,234
Therefore the inventory cost using the Weighted average cost method is $1,234
Describe three ways in which being a student is like being a wage earner
Answers
Answer:
Being a full-time student has quite a few similarities to being an employee, especially in the following characteristics:
1- The existence of a schedule to meet. While employees must meet a schedule in their respective jobs, students must attend their previously scheduled classes, in addition to meeting a minimum study schedule per day.
2- It is the main activity of each person. While employees spend between 8 and 10 hours of their day at work, students also spend part of their day busy with study activities, between trips, classes, studies, practical work, etc. In both cases, recreational activities are secondary to your primary obligations.
3- The economic appreciation of their activities. Employees get a salary for their work activity, while students do not get a salary but they do get knowledge, which will be economically valuable once they graduate.
What is meant by risk perception, and how is it relevant in
finance? Why is it so hard to deal with?
Answers
Risk perception refers to the subjective assessment or evaluation of the level of risk associated with a particular situation, action, or decision.
Risk perception in financeIn finance, risk perception plays a crucial role as it affects individuals' financial decisions, investment choices and willingness to take on financial risks. how people perceive and interpret risks can significantly impact their investment behavior, asset allocation, and risk management strategies.
Dealing with risk perception can be challenging for several reasonsSubjectivity: risk perception is subjective and varies from person to person. It is influenced by personal biases, emotions and cognitive factors, making it difficult to establish a universal standard for risk assessment.
Complexity: financial risks are often complex and multifaceted, involving various factors such as market volatility, economic conditions, regulatory changes, and individual circumstances.
Uncertainty: financial markets are inherently uncertain, and future outcomes are unpredictable. the ambiguity surrounding financial risks can make it hard to quantify and assess risks accurately.
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Risks to a company that can result from outsourcing include: Question 3 options: Customers demanding higher quality and better service Loss of control over a product or process Increasing technological capabilities Lower costs A and B
Answers
Answer:
Loss of control over a product or process
Explanation:
Outsourcing is when third parties are employed to carry out some of the functions of an organisation. For example, an organisation may outsource its customer service agent job to third parties
Advantages of outsourcing
increased efficiencylower cost as the firm would invest less in infrastructureDisadvantages of outsourcing
Loss of control over a product or process outsourced agents may lack adequate information on the businessJeremy has a dispute with a local tree removal company. After a big storm had come through the area, Jeremy had to hire the company to remove a big tree. The two parties had agreed to the price of $1,500. However, the company never finished the job. The company left when the tree was only half removed. Jeremy and his dad finished the rest of the removal two weeks later. Jeremy does not think he owes the tree removal company anything. The tree removal company however wants to be paid. Jeremy offers them $500 in settlement of their dispute. The tree company accepts. This agreement can best be described under contract law as ______________________.
Answers
Answer:
The answer is an accord and satisfaction. :)
Explanation:
Let me know if there is anything else that you would need help with!
Jeremy offers them $500 in settlement of their dispute. The tree company accepts. This agreement can be best described under contract law as an accord and satisfaction.
What is a contract?The contract simply means a promise enforceable by law. The promise may be to do something or to refrain from doing something. The making of a contract requires the mutual assent of two or more persons, one of them ordinarily making an offer and another accepting.
If one of the parties fails to keep the promise, the other is entitled to legal redress. The law of contracts considers such questions as whether a contract exists, what its meaning of it is, whether a contract has been broken, and what compensation is due to the injured party. Contract law is the product of a business civilization. It will not be found, to any significant degree, in noncommercial societies.
Most primitive societies have other ways of enforcing the commitments of individuals; for example, through ties of kinship or by the authority of religion.
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Which is an example of an accounting function for a business?
1.) Designing print advertisements
2.) Preparing a balance sheet
3.) Hiring employees
4.) Testing computer software
Answers
an important reason for a company to maintain its ethical reputation is
Answers
An important reason for a company to maintain its ethical reputation is It attracts and retains customers.It also builds customer loyalty over time, creating a customer base that is likely to refer your business to others.
Is ethics good or bad?Distinguishing between "good and terrible" or "right and wrong" is a loose definition shared by morality and ethics. Many people mistakenly believe that morality is something personal and normative, while ethics is the distinction between "good" and "evil" within a certain society or community.
What is ethical conduct?Ethical Action is a manifestation of our fundamental values to respect the dignity of every individual, foster relationships, and advance justice. Together, we strive to bring out the best in one another and in ourselves, strengthening each person's capacity and obligation to make a positive difference in the world.
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Complete the following sentence.
The acronym ADA stand for
(tourism)
Answers
Answer:
Americans with Disabilities Act
Explanation:
:)
when ordering raw materials of steel and aluminium the business is considering changing to jit advise them if its a good idea or not
Answers
The advantages the business gets if they change to JIT are
reduction in inventory costImprovement in qualityIncrease in efficiencyThe Advantages:Decisions on whether or not to implement a Just-In-Time (JIT) inventory system for steel and aluminum raw material depend on many variables such as business size, market demand, lead time and supplier reliability. Here are the potential advantages and disadvantages of JIT inventory in such situations:
JIT helps businesses reduce inventory holding costs as raw materials are only ordered as required, thus freeing up cash flow for other investments and creating greater cashflow opportunities.
Quality Improvement: Just-In-Time production methods provide greater quality assurance as materials can be purchased in smaller batches that can then be thoroughly inspected upon their arrival.
Increased Efficiency: Just-In-Time ordering helps shorten lead times as raw materials are ordered only when necessary for production; leading to greater productivity gains overall.
Disadvantages of Just in Time production (JIT):
JIT requires businesses to become increasingly dependent on suppliers for materials delivery on time or at required quality levels; any supplier failure could create major disruption in operations and create costly supply issues for business operations.
Transportation Costs Increase with JIT Delivery Frequencies: JIT deliveries often necessitate more frequent delivery trips, which increases transportation expenses.
Difficulties Responding to Unexpected Changes: JIT requires accurate forecasts for demand and lead times
Requiring an efficient supply chain: JIT requires close cooperation between businesses and suppliers in the supply chain.
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Consider the following inventory data for two companies: Nichols Inc. Winters Inc. Beginning inventory $ 120,000 $ 150,000 Ending inventory 80,000 100,000 Purchases 240,000 310,000 Which of these companies had the higher inventory turnover ratio?
Answers
The highest inventory turnover ratio comes out to be 2.88 rimes of Company W in comparison to Company N.
What is the cost of sales?
Cost of sales, also known as cost of goods sold, is the amount of producing the goods or services which are being sold by the company.
Given values:
Particulars Company N Company W
Inventory at the beginning $ 120,000 $150,000
Inventory at the end $ 80,000 $100,000
Purchases $240,000 $310,000
Step-1 Computation of cost of goods sold of Company N:
\(\rm\ Cost \rm\ of \rm\ Goods \rm\ sold = \rm\ Beginning \tm\ Inventory+ \rm\ Purchases-Ending \rm\ Inventory\\\rm\ Cost \rm\ of \rm\ Goods \rm\ sold=\$120,000+\$240,000-\$80,000\\\rm\ Cost \rm\ of \rm\ Goods \rm\ sold=\$280,000\)
Step-2 Computation of average inventory of Company N:
\(\rm\ Average \rm\ Inventory= \frac{\rm\ Beginning \tm\ inventory+Ending \rm\ inventory}{2}\\\rm\ Average \rm\ Inventory=\frac{\rm\ \$120,000+\$80,000}{2}\\\rm\ Average \rm\ Inventory=\$100,000\)
Step-3 Computation of inventory turnover ratio of Company N:
\(\rm\ Inventory \rm\ turnover \rm\ ratio = \frac{\rm\ Cost \rm\ of \rm\ goods \rm\ sold}{\rm\ Average \rm\ inventory} \\\rm\ Inventory \rm\ turnover \rm\ ratio=\frac{\$280,000}{\$100,000} \\\rm\ Inventory \rm\ turnover \rm\ ratio=2.80 times\)
Step-4 Computation of cost of goods sold of Company W:
\(\rm\ Cost \rm\ of \rm\ Goods \rm\ sold = \rm\ Beginning \tm\ Inventory+ \rm\ Purchases-Ending \rm\ Inventory\\\rm\ Cost \rm\ of \rm\ Goods \rm\ sold=\$150,000+\$310,000-\$100,000\\\rm\ Cost \rm\ of \rm\ Goods \rm\ sold=\$360,000\)
Step-5 Computation of average inventory of Company W:
\(\rm\ Average \rm\ Inventory= \frac{\rm\ Beginning \tm\ inventory+Ending \rm\ inventory}{2}\\\rm\ Average \rm\ Inventory=\frac{\rm\ \$150,000+\$100,000}{2}\\\rm\ Average \rm\ Inventory=\$125,000\)
Step-6 Computation of inventory turnover ratio of Company W:
\(\rm\ Inventory \rm\ turnover \rm\ ratio = \frac{\rm\ Cost \rm\ of \rm\ goods \rm\ sold}{\rm\ Average \rm\ inventory} \\\rm\ Inventory \rm\ turnover \rm\ ratio=\frac{\$360,000}{\$125,000} \\\rm\ Inventory \rm\ turnover \rm\ ratio=2.88 times\)
Therefore, Company W has an inventory turnover ratio of 2.88 times which is higher than the inventory turnover ratio of Company N.
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Why’s are payroll withholding and estimated tax useful
Answers
Answer:
it is actually "They make sure people aren't surprised by how much they owe for the year all at once." i just took the quiz
Explanation:
n the context of union security agreements, a closed shop refers to a: a. factory where the workers are shut out of their workplace for a prolonged period of time. b. condition where a company or an industry shuts down due to financial constraints. c. situation where workers abruptly walk off their jobs due to dissatisfaction. d. workplace in which only workers who are already union members may be hired by the employer
Answers
In the context of union security agreements, a closed shop refers to a workplace in which only workers who are already union members may be hired by the employer. .
This means that non-union workers are not allowed to work in the closed shop, and existing employees must join the union within a certain period of time after being hired. Closed shops were once a common practice in many industries, but they are now prohibited by law in the United States under the Taft-Hartley Act of 1947. The purpose of a closed shop is to ensure that all workers in the workplace are members of the union, which can help to strengthen the bargaining power of the union and ensure that all workers are represented fairly in negotiations with the employer. However, closed shops can also be controversial, as they can be seen as infringing on the rights of non-union workers to seek employment. Some argue that closed shops can lead to a lack of diversity in the workplace and can be exclusionary to those who may not be able to afford union dues or who do not agree with the policies of the union. Despite these debates, closed shops are no longer legal in the United States and have largely been replaced by other types of union security agreements, such as agency shops or union shops.
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The Corner Market has fixed costs of $1,600, depreciation of $1,200, a tax rate of 35%, and a cost of capital of 12%. Variable costs represent 67% of sales. What minimum level of sales must the market obtain to avoid a net loss on its income statement?
Answers
Answer:
$8,484.85
Explanation:
Fixed costs = $1,600
Depreciation = $1,200
Tax rate = 35%
Cost of capital = 12%
Variable costs = 67% of sales
Desired sales = (Fixed cost + Depreciation) / Contribution ratio
Desired sales = ($1,600 + $1,200) / (1 - 67%)
Desired sales = $2,800 / 0.33
Desired sales = 8484.84848485
Desired sales = $8,484.85
The minimum level of sales that Corner Market must obtain to avoid a net loss on its income statement is $8,484.85.
If you have easy access to a computer, your job search efforts should be limited to the Internet. Please select the best answer from the choices provided
Answers
Answer:
false
Explanation:
Answer: false
Explanation:
the allowance method of estimating uncollectible accounts receivable based on an analysis of receivables shows that $640 of accounts receivable are uncollectible. the allowance for doubtful accounts has a debit balance of $110. the adjusting entry at the end of the year will include a credit to allowance for doubtful accounts in the amount of:
Answers
The adjusting entry at the end of the year will include a credit to allowance for doubtful accounts in the amount of $750
accounts receivable are uncollectible = $640
the allowance for doubtful accounts has a debit balance = $110.
Total amount by the end = $750
Credit is part of your monetary energy. It lets you get the belongings you need now, like a loan for a car or a credit score card, based to your promise to pay later. operating to enhance your credit score helps ensure you'll qualify for loans while you need them.
Credit is the accept as true with which permits one birthday party to offer money or resources to every other birthday celebration in which the second party does now not reimburse the first birthday party immediately, but guarantees both to repay or return those sources at a later date.
Credit score is the capability to borrow cash or get right of entry to goods or services with the understanding that you'll pay later.
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Create a multimedia presentation that explains the functions of the six major travel trade intermediaries.
Booking
Expedia
Viator
Hotels
Despegar
Travelocity
Answers
Title: Functions of Major Travel Trade Intermediaries
Slide 1:
Introduction
- Welcome to our multimedia presentation on the functions of the six major travel trade intermediaries.
- These intermediaries play a crucial role in connecting travelers with various travel services and accommodations.
Slide 2:
1. Booking
- Booking.com is a popular online travel agency that allows travelers to book flights, hotels, rental cars, and more.
- Functions:
- Provides a user-friendly platform for travelers to search and compare prices.
- Offers a wide range of options to accommodate different preferences and budgets.
- Facilitates secure and convenient online bookings.
Slide 3:
2. Expedia
- Expedia is another well-known online travel agency offering comprehensive travel services.
- Functions:
- Aggregates travel options from multiple providers for easy comparison.
- Provides access to discounted rates and exclusive deals.
- Offers customer support and assistance throughout the booking process.
Slide 4:
3. Viator
- Viator specializes in tours, activities, and experiences worldwide.
- Functions:
- Curates a diverse range of tours and activities, allowing travelers to discover unique experiences.
- Facilitates online bookings, ensuring convenience and availability.
- Provides user reviews and ratings to help travelers make informed decisions.
Slide 5:
4. Hotels
- Hotels.com is a leading platform for booking accommodations worldwide.
- Functions:
- Offers a vast selection of hotels, resorts, and vacation rentals.
- Enables travelers to compare prices, read reviews, and make reservations.
- Provides loyalty programs and rewards for frequent travelers.
Slide 6:
5. Despegar
- Despegar is a prominent Latin American travel agency offering comprehensive travel solutions.
- Functions:
- Provides a wide range of travel services, including flights, hotels, and vacation packages.
- Offers localized content and customer support in multiple languages.
- Facilitates secure online payments and flexible booking options.
Slide 7:
6. Travelocity
- Travelocity is a popular online travel agency offering a range of travel services.
- Functions:
- Assists travelers in finding and booking flights, hotels, and rental cars.
- Provides competitive pricing and special offers.
- Offers customer support and assistance during travel disruptions.
Slide 8:
Conclusion
- In conclusion, the six major travel trade intermediaries, including Booking, Expedia, Viator, Hotels, Despegar, and Travelocity, perform essential functions in the travel industry.
- Their services simplify the travel booking process, provide access to a wide range of options, and offer convenience and support to travelers worldwide.
Slide 9:
Thank you!
- We hope this presentation has helped you understand the functions of these travel trade intermediaries.
- For any further inquiries or assistance, feel free to reach out to us.
- Safe travels and happy booking!
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what is the best free editing app for gamers?
Answers
Suppose economic conditions call for a tax increase but Congress does not implement this measure because an election is approaching. This is an example of which of the real-world problems associated with fiscal policy?
Answers
Answer:
Implementation lag
Explanation:
there are four types of lags associated with fiscal policy
Administrative lag is the time it takes to enact the needed policies. Operational lag is the time it takes for the policy to be enacted to the time the effects are felt in the economy
Recognition lag is the amount of time it takes for authorities to recognise a problem in the economy that needs fiscal policy intervention.
Implementation lag is the amount of time it takes for fiscal policy decisions to be implemented.
b. he believed they should be cut as a matter of fairness and good economic policy
why is it necessary to keep account or financial records while doing vegetable farming
Answers
Answer:
record keeping is a necessary element of good livestock business management.. if farmers have farm record they can tell how well they are managing their farm in comparison to other farmers. they can also see the strength and weakness in their farm operation...
6. Find the YTM for a 12 % coupon, 4-year bond with a face value of $ 1000 , selling at $ 1,120 and assuming semi-annual coupon. A. 4.20 % B. 12.00 % C. 8.35 %
Answers
The YTM for the 12% coupon, 4-year bond is approximately 6%.
|Option C: 6.00%
To find the yield to maturity (YTM) of a bond, we need to use the present value formula and solve for the discount rate that equates the present value of the bond's cash flows to its current market price.
Given:
Coupon rate = 12% (semi-annual)
Face value = $1000
Market price = $1120
Number of periods = 4 years (8 semi-annual periods)
We can calculate the YTM by trial and error or by using financial software or a financial calculator. Here's the calculation using trial and error:
Let's assume a semi-annual discount rate of 5%. We can calculate the present value of the bond's cash flows using this discount rate:
PV = (Coupon Payment / (1 + r/2)^1) + (Coupon Payment / (1 + r/2)^2) + ... + (Coupon Payment / (1 + r/2)^8) + (Face Value / (1 + r/2)^8)
PV = (60 / (1 + 0.05/2)^1) + (60 / (1 + 0.05/2)^2) + ... + (60 / (1 + 0.05/2)^8) + (1000 / (1 + 0.05/2)^8)
Using this calculation, the PV is approximately $1070.56. Since the market price is $1120, we can conclude that the discount rate assumed (5%) is too low.
Now, let's try a higher discount rate. Let's assume a semi-annual discount rate of 6%.
PV = (60 / (1 + 0.06/2)^1) + (60 / (1 + 0.06/2)^2) + ... + (60 / (1 + 0.06/2)^8) + (1000 / (1 + 0.06/2)^8)
Using this calculation, the PV is approximately $1120.29, which is very close to the market price of $1120. Thus, we can conclude that the assumed discount rate of 6% is a close approximation of the bond's YTM.
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a company's assets that are used or converted into cash within the course of a calendar year are called
Answers
A company's assets that are used or converted into cash within the course of a calendar year are called current assets.
What is the asset?An asset is a resource with economic value that a person, company, or nation owns or manages in anticipation that it may one day be valuable. Assets are listed on a company's balance sheet. They are broken down into four groups: present, fixed, financial, and tangible.
The interest receivable must be shown separately because it counts as a current asset. The allowance for questionable accounts should be subtracted from Accounts Receivable.
Assets that are anticipated to be used up or sold within a fiscal year are referred to as current assets. They could be observable or intangible. The assets portion of a company's balance sheet displays current assets. They may serve as an effective measure of a company's liquidity.
Therefore, The course of a calendar year is called current assets.
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What system did merchants in early centuries use to make commercial transactions easier
Answers
In the early centuries, merchants made use of the Mercantilism system for commercial transactions.
What is Mercantilism?In simple terms, it is an economic theory and practice known as "mercantilism," which was prevalent in Europe from the 16th to the 18th century.
Mercantilism advocated governmental regulation of a country's economy with the goal of enhancing state power at the expense of competing for national powers.
According to the theory, a strong nation should have a sizable population because a sizable population would offer a supply of labor, a market, and soldiers.
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over the past several decades, the difference between the labor-force participation rates of men and women in the u.s. has a. gradually increased. b. remained constant. c. gradually decreased. d. been eliminated.
Answers
Over the past several decades, the difference between the labor-force participation rates of men and women in the U.S. has gradually decreased.
What is labor force participation rate vs unemployment rate?The major distinction between the two is that while the unemployment rate reflects the percentage of people in the labor force who are now unemployed, the participation rate indicates the percentage of Americans who are in the labor force. The Bureau of Labor Statistics computes both (BLS).The U.S. labor force participation rate peaked in 2013 at about 63% and stayed there until the COVID-19 epidemic hit. As of November 2022, it was 62.1%. Based on social, demographic, and economic developments, the rate changes throughout time. Since 1990, the world's labor force participation has been steadily declining.To learn more about labor force participation rate refer,
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i will give brainiest if right please answer, Parker wants to develop new food sources for less-developed countries. He was raised on a farm, but doesn't plan to be a farmer. What kinds of careers should he consider?
Answers
Which of the following illustrate the value of trade? A. Trade benefies solely countries with smallereconomies which can sell their raw materials to larger industrialized countries. B. The country of Bellevuc has an absolute advantage in the production of corn and produces more than any other country C. The country of Sparta expors appliances to other countries because it can produce them at a lower opportunity cost and therefore lower price D. The country of Callope has key natural fewources and can charge a higher price to its trading partners and therefore bencfic its economy
Answers
The correct answer is: C. The country of Sparta exports appliances to other countries because it can produce them at a lower opportunity cost and therefore a lower price.
This illustrates the value of trade as the country of Sparta is able to produce appliances more efficiently than other countries, which gives it a comparative advantage in producing these goods. By exporting these goods to other countries, Sparta is able to earn more revenue and grow its economy. Option A is incorrect as trade benefits both large and small economies, not just small ones. Option B is incorrect as absolute advantage does not necessarily result in trade benefits. Option D is incorrect as charging a higher price may lead to lower demand and may not necessarily benefit the economy in the long run.
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