Science Corporation has a March 31st year end. It received its property tax notice for $48,000 for the calendar year. The invoice is payable July 151. (Calendar year is January 1 - December 31).
Prepare the journal entries to record the property tax on the following dates: Assume the company adjusts its accounts annually. 1) March 31 2) July 15 3) December 31

Answer:

Personal property can also be acquired if it's given to you as a gift, by simply finding it and through "accession."

Explanation:

Personal properties may be acquired not only by means of purchase. One way is when a person (donor) gives the property to another person (donee) as a gift. The donor may deliver the gift personally and the donee should accept the gift.

Another way is by simply finding the property. This should satisfy the fact that no one is claiming the property found other than the finder–provided that the finder is "NOT" a trespasser. The property found shouldn't be located inside a private property.

An example of "accession" is: when a person's pet dog gives birth to puppies, the puppies are immediate personal property of the owner.

To protect your investment earnings in case the stock market goes down.

What is asset allocation?

Asset allocation involves dividing your investment into different assets such as stocks, bonds and cash. Asset allocation decisions are personal choices. The most effective allocation for you will change at different times in your life, depending on how long you have to invest and your risk tolerance.

Purpose of asset allocation:

Asset allocation is the process of deciding where to allocate money in the market. We aim to balance risk and reward by allocating portfolio assets according to individual goals, risk tolerance and investment horizon.

Types of asset allocation:

Classification of assets:

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Personal financial planning focuses on issues such as paying your monthly rent, paying tuition and fees, and the cost of food, while still having some funds to use for entertainment, rest, and relaxation

You can reach your financial goals by creating a personal finance plan. These goals could be anything, such as saving for your child's college tuition, creating retirement plans, or having enough money to handle immediate expenses. This depends on your income, spending, saving, investing, and personal safety.

Managing your present financial needs and long-term financial plans requires an understanding of personal finance. The sooner you take charge of your own money, the better your long-term financial prospects will be for decisions like investing or retirement planning.

Knowing the basics of personal finance will help you see ways to improve your financial situation. This information can help you build a budget for short-term needs while creating long-term financial strategies.

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Explanation:

the main advantages are:: reduction in numbers of translations many expenses of small nature recorded in petty cash book, the number of transactions reduced in the cash.

reduction of errors :: as the head cashier check the accounts of previous month and gives advance for the coming months, does ,errors if any are reduced.

The firm's short-run supply curve is an upward-sloping curve that begins at the minimum of the average variable cost curve.

This is because in the short-run, a firm cannot change its fixed costs and can only adjust its variable costs to produce more output. As a result, the marginal cost of production increases as the firm produces more output, leading to an upward-sloping supply curve. The minimum point of the average variable cost curve represents the level of output where the firm is just covering its variable costs and is indifferent between producing and shutting down. Therefore, the firm's short-run supply curve starts at this point as it would not be willing to produce any output below this level. Overall, the shape of the short-run supply curve is influenced by the firm's production technology and market conditions.

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Answer:

produced by PR agencies and companies for use in TV newscasts.

Explanation:

Public relations involves the process of professionally maintaining and sustaining a favourable public perception and image by an organization or an elite.

It is a strategic communication process used by PR managers to issue and disseminate quality informations between their principal (usually an individual) or an organization and the public, in order to build a mutualistic relationship and boost their level of sales.

Public relations is a marketing tool that combine news covered by the media which are often not a directly paid for medium and is typically used to influence, inform and persuade the consumer to purchase a product.

A video news releases is a segment or portion of a video that's produced to have similarities with news report and are sent to media houses.

On a related note, video news releases are produced by public relations (PR) agencies and companies for use in TV newscasts.

Answer:

C. checking account

Explanation:

regular checking account usually pays little or no interest on your balance.

Answer:

D

Explanation:

The components of the compensation package for members of camera/drone parts include the base wage, fringe benefits package, assembly quality incentives, bonuses for meeting or beating assembly quotas, and allowances for living expenses.

There are variations in the compensation package offered to members of camera/drone parts, but in general, these are the components. The base wage can be weekly or monthly, and there may be overtime pay for working beyond regular hours. The fringe benefits package covers costs such as health insurance, retirement savings plans, and paid time off. Assembly quality incentives are offered based on the P/Q rating of the units assembled, and bonuses may be given for meeting or exceeding assembly quotas. Allowances for living expenses may be paid weekly or monthly.
Specific examples of the components include: (1) weekly salary, the cost of a PAT member's fringe benefits package, weekly bonuses for meeting or beating the PAT's weekly assembly quota, overtime pay, and a monthly allowance for living expenses; (2) the dollar-cost of a PAT member's fringe benefit package, assembly quality incentives ($ per unit assembled divided equally among PAT members), year-end bonus for perfect attendance, and annual base wage; (3) monthly salary, the cost of a PAT's fringe benefits package, year-end awards of 10 shares of common stock for perfect attendance, weekly bonuses for meeting or beating the PAT's weekly assembly quota, and a monthly allowance for living expenses; (4) annual base wage, assembly quality (P/Q rating of units assembled), a year-end bonus for perfect attendance, and the cost of a PAT member's fringe benefits package.

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The direct labor budget for the second quarter is $24,879,630, which represents the total cost of direct labor required to produce the budgeted quantity of handcrafted belts during the period.

To prepare the direct labor budget for the second quarter, we need to calculate the total direct labor cost required to produce the budgeted quantity of 377,850 belts.

Direct labor cost per belt = Direct labor hours per belt x Direct labor cost per hour
= 3.50 x $18.80
= $65.80

Total direct labor cost for 377,850 belts = Direct labor cost per belt x Number of belts budgeted
= $65.80 x 377,850
= $24,879,630

It is important for Branson Belts to accurately budget its direct labor costs to ensure that it can effectively manage its labor expenses and achieve profitability targets. By preparing a direct labor budget, the company can also assess its staffing needs and allocate its resources efficiently to meet production demands.

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The number of years that the element would decrease from its  initial 15 grams to 3 grams is 54.4 years

What is the appropriate formula to determine years in case of a decreasing growth rate?

When the element decreases rather increases, the number of years it takes for the element to decrease from its initial value of 15 grams  to 3 grams  determined as shown below formula based on the present value and future value

n= ln(FV/PV) / ln(1+i)  

FV=future value of the element after the decrease=3grams

PV=the initial value of the element=15 grams

i=decreasing rate of asset=3% per year

n=ln(3/15)/ln(1+3%)

n=-54.4 years(it is negative because asset value is reducing)

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Answer:

52.8

Explanation:

Explanation:

1, Don’t focus on a job, use the income from your job to invest to create different forms of income

2, Fastest way to get rich is to form a business

that's it :)

Competitor brokerage commission charges is not one of the three major areas a broker should consider when creating a company policy.

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The economy produces capital when savings or financial resources become available to borrowers.

Yes, "financial resources" is an important concept related to the production of capital. Financial resources refer to the funds or assets that are available for use in economic activities.When individuals or entities save a portion of their income or generate profits, they can deposit these funds into financial institutions such as banks. These institutions, in turn, can lend out these funds to borrowers, such as individuals, businesses, or governments, who require capital to invest in projects, expand their operations, or meet other financial needs.

The process of savings and lending allows the economy to channel available resources towards productive uses, enabling capital formation and economic growth.

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Nursing is a human service. As in nursing we help the patients to get well. Not only for salary, they personly also try to help the patient with a lot care. Some nurses also treat the patient as their own family. Thus, nursing is a human service.

Explanation:

Human resources refer to a country's population, their skills and abilities

Pricing strategy is influenced by a number of internal and external variables, including marketing objectives, competition, marketing mix strategy, and costs.  The correct options are A, B, C and D.

The following is not an internal factor affecting pricing is marketing objectives.

Internal factors affecting pricing: An organization's internal variables that affect pricing decisions are referred to as internal factors. These factors include the company's objectives, marketing mix strategy, costs, and organization structure, among other things.

Marketing objectives:The marketing objective is the company's marketing plan's overall aim. The marketing objective might be to increase sales, improve customer satisfaction, or increase market share.

Competition: One of the critical components of pricing strategy is competition. When determining pricing, businesses must consider both direct and indirect competition

Marketing mix strategy: Marketing mix strategies, also known as the four Ps (product, price, place, and promotion), are the set of tactics that a company employs to meet its marketing objectives.

Costs: Another significant factor in pricing is cost. In deciding pricing strategies, costs are the foundation for the pricing decision.  

The correct options are A, B, C and D.

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Based on his taxable income of $18,405, Mike's tax liability would fall within the 10% tax bracket, so his federal income tax would be 10% of that amount, or $1,840.50.

To determine the amount of tax Mike would owe based on his taxable income of $18,405 in 2021, you would need to refer to the Internal Revenue Service (IRS) tax tables. The tax tables provide a breakdown of the federal income tax that an individual would owe based on their taxable income and filing status.

As a single filer, Mike's tax rate would vary based on his taxable income. The 2021 tax tables show the following tax brackets for single filers:

   10% for taxable income up to $9,950

   12% for taxable income between $9,951 and $40,525

   22% for taxable income between $40,526 and $86,375

   24% for taxable income between $86,376 and $164,925

   32% for taxable income between $164,926 and $209,425

   35% for taxable income between $209,426 and $523,600

   37% for taxable income over $523,600

It's important to note that this amount is just an estimate, and there may be other factors that could affect the actual amount of tax Mike would owe, such as deductions and credits. The IRS tax tables should be used as a reference, and it's always a good idea to consult with a tax professional for a more accurate determination of your tax liability.

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Southeast Asian cities have promoted economic growth primarily through western investment and trade. (Option C)

Southeast Asia refers to the geographical region of Asia which comprises of regions situated south of mainland China, east of the Indian subcontinent, and north-west of mainland Australia.  In major Southeast Asian cities economic growth has been supported and promoted primarily through the means of western investment and trade. This has allowed these cities to become important economic hubs in the region, attracting businesses and creating jobs.

Western investment and trade have also helped to stimulate the local economy, leading to higher incomes and increased spending by residents. This in turn has led to further economic growth and development in these cities. Therefore, western investment and trade has helped economic growth in these cities.

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When the related revenue is recognized, a Product Costs are recognized as an expense. A product cost in here is  an expense which is incurred to produce a product that is capitalized on the balance sheet since they have a future benefit.

In economy and business, Product cost generally can be defined as the costs incurred to create a product. A product cost is including several aspects, such as  direct labor, direct materials, consumable production supplies, and factory overhead. The revenue recognition in economic principle generally can be described as the condition where that companies' revenues are recognized when the service or product is considered delivered to the customer.

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Answer:

Because of product's use of natural resources in its input (1) and dependence on the supply chain system of other companies.

Explanation:

The reason is that all of the companies rely on natural resources that the companies are processing and making it available for the other companies to utilize it to control its cost and complete the production of the products. The energy is a natural resource which every company utilizes and due to this its production is largely dependent on the firms that are processing natural resources to make it available for companies to utilize it.

The next most important thing is supply chain system of natural resource companies that helps the companies like AEC and even an individual to make the use of these natural resources in an efficient and effective manner. If I don't have access to fuel, then I cann't travel and traveling by using horses would be expensive and time consuming. So supply chain system of the other businesses play key role here.

Owners invest $30,000 cash on starting their business. On the 5th day, they buy machinery for $5,000 cash. Then, on the 10th day, they purchase supplies on account worth $980. On the 15th day, they perform the services.

When a business starts, owners can invest their cash. In this case, the owners invest $30,000 cash to start their business. After five days, the business buys a machine for $5,000 in cash. Therefore, the business's cash balance will reduce by $5,000, and the value of the machinery will be included in the balance sheet.

Supplies are purchased on account on the 10th day worth $980, which is a liability for the company since it is a payable, and it will be paid in the future. Thus, this amount is not deducted from the cash balance in the cash flow statement. However, it will increase accounts payable, which will be shown in the balance sheet of the company.

On the 15th day, the business performs its services. This is a source of income, which will be shown in the income statement. The income statement includes information on how much revenue the company earned and how much expenditure it incurred during the particular time period.

So, the main answer is that the business owners invested $30,000 cash, bought a machine for $5,000 cash, purchased supplies on account worth $980, and performed their services on the 15th day.

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Answer:

Operating profit = $147,500

Explanation:

Missing question is "What is the total operating profit?

Operating profit = Sale unit(Selling price - Variable Cost) - Fixed expenses

Operating profit = 5,000 * ($50 - $10.50 - $2.00) - $25,000 - $15,000

Operating profit = 5,000*$37.5 - $40,000

Operating profit = $187,500 - $40,000

Operating profit = $147,500

Under the single plantwide factory overhead rate method, factory overhead costs are allocated to products only using one rate.

This is a simple method of allocating overhead costs, but it can lead to inaccurate product costs if the overhead costs are not homogeneous. A detailed answer would explain that this method calculates a single overhead rate by dividing the total overhead costs by the total amount of the allocation base, which is usually direct labor hours or machine hours. This rate is then applied to all products regardless of their individual usage of overhead resources. A long answer would further discuss the limitations of this method, including the potential for over- or under-allocation of overhead costs to products.

It would also compare this method to other methods of allocating overhead costs, such as activity-based costing and multiple production department factory overhead methods. This method involves allocating costs based on a single predetermined overhead rate, which is usually calculated using direct labor hours or machine hours.

Here's a step-by-step explanation:
1. Choose an allocation base (such as direct labor hours or machine hours).
2. Calculate the total factory overhead costs for the period.
3. Calculate the total amount of the allocation base for the period.
4. Divide the total factory overhead costs by the total allocation base to find the single plantwide factory overhead rate.
5. Apply this rate to each product by multiplying the product's allocation base usage by the single plantwide factory overhead rate.

Remember that this is a simplified method and other approaches like activity-based costing or multiple production department factory overhead methods may provide more accurate cost allocations.

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The factors that would cause the equilibrium wage to increase are:

1. An increase in labor demanded: When there is a higher demand for labor, employers are willing to pay higher wages to attract and retain workers. This increased demand can be due to factors such as economic growth, increased business activity, or technological advancements.

2. A decrease in labor supplied: If the supply of labor decreases, meaning there are fewer workers available in the market, employers may need to offer higher wages to attract the limited pool of available workers. Factors that can reduce labor supply include demographic changes, immigration restrictions, or changes in labor force participation rates.

Both of these factors, an increase in labor demanded and a decrease in labor supplied, contribute to a decrease in the supply-demand gap for labor and lead to upward pressure on wages.

Conversely, a decrease in labor demanded or an increase in labor supplied would put downward pressure on wages and not cause an increase in the equilibrium wage.

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B. Family branding is when a company uses the same brand name to cover a group of products or product lines.

Family branding allows for increased brand recognition and awareness across multiple product lines, as well as potential cost savings on marketing and advertising efforts.

By utilizing a single brand name, companies can leverage the positive reputation and loyalty associated with their brand to promote new products or product lines, making it easier to launch and market new offerings.

However, family branding also carries the risk of negative associations with a particular product line impacting the perception of the entire brand. It requires careful brand management to ensure that each product line maintains a positive association with the brand name.

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Answer:

The restaurant Manager has in-depth knowledge of their business, workers, and income. While a customer might know a workers name a restaurant Manager knows their past record, their education level, and connections.

A manager also might deal with the money, meaning counting bills, change, while a customer simply pays.

Explanation:

Sorry if the question is looking for more specifics.

Answer:  Percentage Loss = 37.5%

Explanation:

Given that:

Cost price of 10 Shirt = Selling price of 16 Shirt

Let it be equal to x

So, Cost price of 10 Shirt = x

      Selling price of 16 Shirt= x

Now Cost price of 1 Shirt = x/10

&      Selling price of 1 Shirt = x/16

Since it can be clearly seen that Selling price < Cost price

Hence, It should be a Loss.

Loss = C.P - S.P

        = x/10 - x/16

        = 3x/80

We know that ,

Percentage Loss= (Loss ) X 100/(Cost price)

                           = (3x/80) X 100/(x/10)

                           = 300/8

                          =37.5%

Hence Percentage Loss is 37.5%.

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