Scott Company had sales of $12,350,000 and related cost of goods sold of $7,500,000 for the year ending December 31, 20Y8. Scott provides customers a refund for any returned or damaged merchandise. Scott Company estimates that customers will request refunds for 0.8% of sales and estimates that merchandise costing $48,000 will be returned in 20Y9. Journalize the adjusting entries on December 31, 20Y8, to record the expected customer returns. If an amount box does not require an entry, leave it blank.
Answers
Answer:
Entries to record the expected customer returns :
J1
Trade Receivables $12,350,000 (debit)
Revenue $2,470,000 (credit)
Refund Liability $9,880,000 (credit)
Being Recognition of Revenue from Sale and Refund Liability.
J3
Right of Recovery Asset $48,000 (debit)
Cost of Sales $48,000 (credit)
Being Reduction of the Cost of Sales with Right of Return Items
Explanation:
The full Entries to be made on the Sale transaction are as follows :
J1
Trade Receivables $12,350,000 (debit)
Revenue $2,470,000 (credit)
Refund Liability $9,880,000 (credit)
Being Recognition of Revenue from Sale and Refund Liability.
J2
Cost of Sales $7,500,000 (debit)
Inventory $7,500,000 (credit)
Being Recognition of Cost associated with the sale
J3
Right of Recovery Asset $48,000 (debit)
Cost of Sales $48,000 (credit)
Being Reduction of the Cost of Sales with Right of Return Items
Related Questions
The Consumer Product Safety Commission (CPSC) does not
O have seven commissioners
O appoint its commissioners for seven-year terms
O ensure that products have adequate warnings and instructions
O represent an independent regulatory commission
Answers
No independent regulatory body is represented by the Consumer Product Safety Commission (CPSC).
What is the product?The object being sold is referred to as a product. A service or an object both qualify as products. It could take on a physical, virtual, or cyber form. Every product has a cost associated with it, and each one has a price. The market, the quality, the marketing, and the group that is being targeted all affect the price that can be charged.
A safe product is one that, while taking into account the regular or reasonably anticipated usage of the product and the requirement to maintain a high degree of protection for consumers, offers either no risk or a minimum tolerable level of risk.
The Consumer Product Safety Commission (CPSC) protects the public from unreasonable risks of serious injury or death from thousands of types of consumer products under its jurisdiction, including products that pose a fire, electrical, chemical, or mechanical hazard or can injure .
Therefore, Thus option (D) is correct.
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Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2024, Wolfgang decided to change to the LIFO method. Net income in 2024 was correctly stated as $90 million. If the company had used LIFO in 2023, its cost of goods sold would have been higher by $7 million that year. Company accountants are able to determine that the cumulative net income for all years prior to 2023 would have been lower by $23 million if LIFO had been used all along, but have insufficient information to determine specific effects of using LIFO in 2022. Last year, Wolfgang reported the following net income amounts in its comparative income statements:
Answers
If Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. the journal entry at the beginning of 2024to record the change in accounting principle is: Debit, Retained earnings $30 million, Credit Inventory $30 million.
How to prepare the journal entry?If cost of goods sold increase by $7 million that year in which the cumulative net income for all years have been lower by the amount of $23 million , The appropriate journal entry to record the transaction is :
Wolfgang Kitchens Journal entry
Debit Retained earnings $30 million
Credit Inventory $30 million
($23 million + $7 million)
( To record the change in accounting principle)
Therefore the journal entry is Debit Retained earnings $30 million, Credit Inventory $30 million.
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The complete question is:
Wolfgang Kitchens has always used the FIFO inventory costing method for both financial reporting and tax purposes. At the beginning of 2024, Wolfgang decided to change to the LIFO method. Net income in 2024 was correctly stated as $90 million. If the company had used LIFO in 2023, its cost of goods sold would have been higher by $7 million that year. Company accountants are able to determine that the cumulative net income for all years prior to 2023 would have been lower by $23 million if LIFO had been used all along, but have insufficient information to determine specific effects of using LIFO in 2022. Last year, Wolfgang reported the following net income amounts in its comparative income statements:
($ in millions) 2021 2022 2023
Net income $90 $92 $94
Prepare the journal entry at the beginning of 2024to record the change in accounting principle. (Ignore income taxes.)
Piels Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the production of 10,000 units of this part are as follows:
Direct materials $ 90,000
Direct labor 130,000
Variable factory overhead 60,000
Fixed factory overhead 140,000
Total costs $420,000
Of the fixed factory overhead costs, $60,000 is avoidable. Conners Company has offered to sell 10,000 units of the same part to Piels Corporation for $36 per unit.
Required:
1. Assuming there is no other use for the facilities, Piels should ___________.
Answers
Answer:
It is cheaper to produce
Explanation:
Cost of producing
Direct materials - 90000
Direct labor - 130000
Variable factory overhead - 60000
Fixed factory overhead - 60000
Total cost - 340000
Cost of buying `10000*36 = 360000
Incremental cost of buying = 360000-340000 = $20,000
It is cheaper to produce at 340000/10000 = $34 /unit
In making a decision whether to buy or manufacture , variable cost and the avoidable costs are considered relevant for this purpose
PLEASE HELP ME THIS IS DUE IN 20 MINUTES! I ONLY HAVE 75 POINTS :((
Answers
The elasticity of demand for this move in price is unitary.
How to calculate the elasticityElasticity of demand = (percentage change in quantity demanded) / (percentage change in price)
((8-6)/((8+6)/2)) x 100% = 33.33%
Quantity demanded = 20 - 2P
At the original price of $8, the quantity demanded is:
Quantity demanded = 20 - 2(8) = 4
At the new price of $6, the quantity demanded is:
Quantity demanded = 20 - 2(6) = 8
percentage change in quantity demanded is:
((8-4)/((8+4)/2)) x 100% = 33.33%
Elasticity of demand = (33.33% / 33.33%) = 1
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Select the correct text in the passage.
Which sentence demonstrates the use of secondary market research technique?
Keith wants to start a fast-food stall. 1. He interviewed people in the area where he wants to put up his stall. 2. He also gave out questionnaires to
understand people's opinions. 3. He worked out the cost and investment details with the help of the Internet. He is now all set to speak to the
bank to apply for a business loan.
Answers
Answer: I heard its the second option, I cannot verify that. But i do have the awnsers to every question for the final in Entrepreneruship, Its on quizlet labeled Entrepreneurship. 37 terms.
Explanation:
Answer:
3. "...with the help of the internet"
Explanation:
In the tutorial it states examples of secondary market research (ex. journals, trade magazines, trade associations, or the Internet"
((Currently doing my final exam, hope all goes well with those taking the final as well))
As of 2013, which of these countries had the highest GDP per capita? Uganda the United States Switzerland Brazil
Answers
Answer:
Switzerland the answer
In the year 2013, the nation that had the highest GDP per capita out of the options was Switzerland.
What was the GDP per capita of Switzerland in 2013?In 2013, Switzerland had the very high GDP per capita of $88,109.49 which put it higher than the United States and Brazil.
This high GDP per capita meant that the Swiss economy was strong and that the people were mostly well off.
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Frictional and structural unemployment can be alleviated by implementing a supply-side policy such as 19) A) * decreasing government subsidies. B) increasing the power of trade unions. ) cutting back on business spending on educational training. D) the government giving tax breaks to companies locating in poor geographic areas.
Answers
Answer: the government giving tax breaks to companies locating in poor geographic areas.
Explanation:
How long do financial records remain on your credit report?
Answers
What’s the maximum amount of time homstyle Mac and cheese
Answers
The maximum amount of time required to prepare homemade-style mac and cheese typically ranges from 30 to 45 minutes. This includes the time needed for boiling the pasta, making the cheese sauce, and baking or broiling the dish for a crispy topping.
The exact duration may vary depending on the recipe and individual cooking preferences. To begin, the pasta is cooked in boiling water for about 8 to 12 minutes until it reaches the desired tenderness.
Meanwhile, a cheese sauce is prepared by melting butter, adding flour to create a roux, and gradually incorporating milk and shredded cheese until a creamy consistency is achieved. This process usually takes around 10 to 15 minutes.
Once the pasta is drained and the cheese sauce is ready, they are combined and optionally transferred to a baking dish. The mac and cheese is then baked or broiled for an additional 10 to 15 minutes, resulting in a golden and bubbly top.
In summary, while homemade-style mac and cheese can be made in as little as 30 minutes, it typically requires around 30 to 45 minutes from start to finish, depending on the recipe and desired outcome.
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Should government play an active role in business enterprises? Discuss with examples
Answers
Answer: produce most available goods and services
Explanation:
Write a solution to each scenario
1. Julio,Liza, and Jon must prepare a report, but Jon hasn't done his share.
2. Regeena's boss likes her work but she 's always late in spite if being warned.
3. Lucie thinks her boss is being unfair because he gives her morw work than he gives her co-workers.
Answers
The solution that would have to be done in all of the situations that we have here would be:
The solution that would be done here is to find out why Jon has not done his then try to offer him assistance to get the job doneGiven that Regina is always late despite being warned, the boss has to find out the reason for her lateness and if she still continues, it may cause her to have a probation at work.Lucie would have to speak to her boss on the volume of work that she gets.How to deal with situations in the work placeIn the work place, it would be best if the people that are in a particular work environment are able to work in a way that they would avoid all forms of conflicts that may arise.
This would have to do with putting up all of the attitudes that has to do with coming early to work, showing respect and being eager to learn.
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chiến lược phân phối của thương hiệu Omo
Answers
Answer:No
si chang chang hoi
Explanation:
Select the correct answer.
Which sentence is likely to be the opening of a goodwill message?
Answers
Answer:
B. My sincere congratulations on your promotion.
Explanation:
Goodwill is generally done at the beginning of the introduction or providing some value and hopeful information and can include a warm courteous massage of thanks hat is appropriate such as regards. For the new product, service, or any opportunity.Why should a global marketing manager consult local attorneys in other countries before creating a marketing campaign abroad?
Answers
For each of the following, list the class intervals that would be best for a grouped frequency distribution. a. Lowest X = 3, highest X = 84 b. Lowest X = 17, highest X = 32 c. Lowest X = 52, highest X = 97
Answers
Class interval =15 is best for the grouped frequency distribution data. To make the information easier to understand, measures of variability are visual displays that organise and show frequency counts.
What is frequency distribution?Frequency tables or charts are used to represent frequency patterns. The percentage of observations or the exact number of observations that fall within each range can both be seen in frequency distributions.
Class interval =Height value -Lowest value
The breadth of each class is represented by a class interval.
(a) Given: Lowest value =3, Heighest value=84
Class interval =Height value -Lowest value =84-3=81
(b) Given: Lowest value =17, Heighest value=32
Class interval =Height value -Lowest value =32-17=15
(c) Given: Lowest value =52, Heighest value=97
Class interval =Height value -Lowest value =97-52=45
(b) Class interval =15 is best for the grouped frequency distribution data
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why does call of duty make so much games?????
Answers
Answer:
because they want money why else
s
t
u
p
i
d
Explanation:
Xavier has been working at his first post college job for almost a year when his company gives him a raise, resulting in a paychecks increase of 200, for a total of $400 extra in take home pay every month. He makes a quick list of possible ways to use that money, along with relevant notes for each.
Save for fun summer vacation trip in 8 months
Estimated cost= $1000
Interest rate-- 1% - savings account
3 friends are going -- really want to join
Pay off credit card debt sooner
Balance= $6,500
Interest rate-- 20%
Completely up to date on payments
Typically pay monthly minimum only
Pay down student loan dept
Balance= $34,000
Interest rate-- 4%
Completely up to date on payments
Increase Emergency funds
Balance= $250
Interest rate-- 1% savings account
Realize this should be much higher
Have been lucky so far-- haven't used the account once yet
Participate in company 401(k) plan
Not participating yet
Interest rate-- Variable
Company will match dollar for dollar up to 5% of my salary ($250) a month)
Finance Nicer, more reliable car
Estimated cost- $25,00
Interest rate-- 6%
Currently driving 14-year-old car paid for in cash at a time for purchase
No down payment currently saved
Provide a detailed plan, including actual dollar amounts, for Xavier to wisely use the extra $400 per month from his raise. For each part of the plan, briefly describe why you're making this choice
Answers
Answer:9900
Explanation:
600=700
Xavier might utilise the extra $700 in take-home salary in the following ways:
What are possible ways to use that money ?Xavier might save some of the excess cash in a savings account to utilise in the event of emergencies, such as unanticipated auto repairs or unforeseen medical expenses. She may feel more financially secure and ready for the future as a result.
2) Pay off debt: Xavier might use the additional funds to settle any unpaid debts, including credit card balances and college loans. She might be able to lower her monthly spending and raise her credit score as a result.
3) Put some of the additional cash toward retirement: Xavier can think about putting some of the extra cash toward retirement by opening a 401(k) or IRA. This may enable her to save . She can use this to increase her future savings and possibly increase her income through compound interest.
4) Set aside some of the additional cash to save for a major purchase: Selena may set aside some of the extra cash to save for a major purchase, such a down payment on a home or a new automobile.
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An account never used in a service business is
Answers
Answer:
inventory
Explanation:
(5 points)
Willie's Hot Dogs had sales last year of $250,300 and a guest count of 76,079.
Sales this year were $280,750 with a guest count of 83,556.
What was Willie's guest count percentage variance?
Answers
Willie's guest count percentage variance is 9.82%.
How to calculate guest count percentageTo calculate the guest count percentage variance
Use the following formula:
Guest count percentage variance = [(current year guest count - prior year guest count) / prior year guest count] x 100%
Guest count percentage variance = [(83,556 - 76,079) / 76,079] x 100%
Guest count percentage variance = (7,477 / 76,079) x 100%
Guest count percentage variance = 0.0982 x 100%
Guest count percentage variance = 9.82%
Therefore, Willie's guest count percentage variance is 9.82%.
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PLEASE ANSWER FAST
DUE TODAY
You are writing an information guide for young students titled Banking in the United States Made Easy!
Explain each of the following terms in your own words.
Currency -
Interest -
Money supply -
Profit -
Stock -
Answer each of the following questions in complete sentences.
Banks are businesses. Like other businesses, they seek profit. How do they earn profit?
Why might an individual want to use a bank? Give an example of why a person would use a bank.
Why might a business want to use a bank? Give an example of why a business owner would use a bank.
What is the Federal Reserve?
The money supply is the total amount of money available in the economy. How do changes in the money supply affect people and businesses?
How does banking affect the money supply?
What would happen if banking didn’t exist?
This chart shows a sequence of causes and effects in how banking can affect society. Complete the chart by selecting the correct word.
1. The Fed reduces interest rates.
2. Banks will make (more or fewer?) loans.
3. The money supply (increases or decreases?).
4. People and businesses are (more or less) likely to spend and borrow money.
5. The number of jobs will (decrease or increase?).
6. People will buy (more or fewer?) cars, homes, and fun stuff.
7. Growth of the economy speeds up.
8. Inflation will (decrease or increase?).
Answers
Answer:
Currency - Currency refers to the paper money and coins that are used to buy goods and services in the United States.
Interest - Interest is the fee that is charged by a bank when a person or a business borrows money. It is the cost of borrowing money.
Money supply - Money supply refers to the total amount of money available in the economy, including cash, coins, and bank deposits.
Profit - Profit is the money that a business makes after all its expenses have been paid. It is the amount that is left over.
Stock - A stock is a share in the ownership of a company. When someone buys a stock, they own a small part of the company.
How do banks earn a profit?
Banks earn a profit by charging interest on loans and by investing the money that people deposit in their accounts.
Why might an individual want to use a bank?
An individual might want to use a bank to keep their money safe, to earn interest on their savings, or to take out a loan to buy a car or a home.
Why might a business want to use a bank?
A business might want to use a bank to keep its money safe, to borrow money to invest in the business, or to process payments from customers.
What is the Federal Reserve?
The Federal Reserve is the central bank of the United States. It is responsible for regulating the country's financial system, including setting monetary policy and supervising banks.
How do changes in the money supply affect people and businesses?
Changes in the money supply can affect people and businesses by causing inflation, which is a general increase in prices, and by affecting interest rates.
How does banking affect the money supply?
Banking affects the money supply by creating and destroying money through the process of lending and borrowing.
What would happen if banking didn’t exist?
If banking didn't exist, people would have to keep their money in their homes or in other places, and businesses would have to find other ways to borrow money and process payments.
1. The Fed reduces interest rates.
2. Banks will make more loans.
3. The money supply increases.
4. People and businesses are more likely to spend and borrow money.
5. The number of jobs will increase.
6. People will buy more cars, homes, and fun stuff.
7. Growth of the economy speeds up.
8. Inflation will increase.
Explanation:
Create Transactions, a Deposit and a Report
In this exercise, you will create all the transactions for April 8, 2026, and then create a bank deposit and
report.
1. Use this information to create the appropriate transactions:
• Esther Green paid her outstanding invoice with cheque #598.
• Roy Fisher decided to hire Melanie for the custom flower design for $550 and wants to be
invoiced; Melanie reminds you apply the credit.
• Karuna Ramachandran pays both of her outstanding invoices with debit.
• One of the birthday vases Sharon McColl bought in February had a crack, so Melanie wants to
create and apply a credit memo of $25, plus HST, before she pays her invoice. Sharon then pays
the new balance with cash.
Hint: Once you create the credit, it may apply automatically depending on your settings.
• Mary Beth Dunham made a recommendation to a friend of hers to hire Melanie for their
wedding. Melanie tells Mary Beth that if her friend hires her, Melanie will give Mary Beth $75
as a credit on her next invoice for the wedding arrangements. Enter the delayed credit on Mary
Beth’s account for Sharon’s wedding.
2. Melanie will take the cheques from today’s sales and all cash received to the bank and deposit
them. You will need to record a bank deposit for those items and any debit card payments that
were also received up through April 8 (the deposit amount should be $2,570.75). Then, run an
Open Invoices report and an Unbilled Charges report for all dates.
3. Export both reports to Excel and save to your Chapter 04 folder as: CH04 Open Invoices
and CH04 Unbilled Charges 2
Answers
Using QuickBooks Online, you must begin by clicking the " Receive Payments " option. Intuit created and sells the accounting software suite known as QuickBooks.
How can transactions be created in QuickBooks?
The procedures listed below can be used to create transactions on QuickBooks Online based on transactions that have already occurred:
Choose "Receive Payment" by clicking the "+" button in the dashboard's upper right corner.
Choose "Esther Green" as the client, and then enter the sum paid as the invoice's unpaid balance. Choose "Cheque" as the payment option and input the 598-digit check number. Transaction saved.
Choose "Invoice" by clicking on the "+" symbol once again. Choose "Roy Fisher" as the client and type $550 as the balance owed. Choose Melanie's unique floral design service in the products/services area to apply the credit of $25 + GST to the bill. Transaction saved.
Refresh your browser and choose "Receive Payment" from the "+" menu. Choose "Karuna Ramachandran" as the client and input the sum owed for the two unpaid bills. Choose "Debit" as the mode of payment, then save the deal.
Choose "Credit Note" by clicking on the "+" button once again. Choose "Sharon McColl" as the customer, then input a credit amount of $25 + GST. Save the transaction and apply the credit to the birthday vase invoice.
Refresh your browser and choose "Receive Payment" from the "+" menu. When the credit has been applied, choose "Sharon McColl" as the client and input the new balance. Choose "Cash" as the mode of payment, then save the deal.
Click the "+" symbol and choose "Bank Deposit" to make a deposit. Choose the payments made by Karuna Ramachandran, Sharon McColl, and Esther Green as the deposit items, then save the transaction.
Go to the Reports tab on the left-side menu and choose "Profit and Loss" to create a report. Run the report with April 8, 2026 as the date range.
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food and shelter are examples of a need.
Answers
The postal service of St. Vincent, an island in the West Indies, recently introduced a limited edition deluxe souvenir sheet priced at $15.00 each. The initial market response was quite positive, with an increase in unit sales compared to the regular souvenir sheets. The postal service sold a total of 50,000 units of the deluxe souvenir sheet.
Based on the given information, calculate the following:
What was the postal service's increase (decrease) in total contribution margin when it sold 50,000 deluxe souvenir sheets at $15.00 each, compared to selling 80,000 regular souvenir sheets at $8.00 each?
By what percentage did the St. Vincent post office increase the selling price for the deluxe souvenir sheet compared to the regular souvenir sheets? Additionally, calculate the percentage increase in unit sales for the deluxe souvenir sheet compared to the regular souvenir sheets. (Round your answers to one-tenth of a percent.)
If the postal service wants to maintain the same total contribution margin per unit for the deluxe souvenir sheets as it did for the regular souvenir sheets, what selling price should they set for the deluxe souvenir sheet? (Round your answer to the nearest whole dollar.)
Calculate the number of deluxe souvenir sheets the postal service would need to sell at the price determined in question 3 to equal the total contribution margin earned by selling 80,000 regular souvenir sheets at $8.00 each. (Round your answer to the nearest whole number.)
Please show your calculations and provide explanations for each answer.
Answers
1. the postal service experienced an increase in total contribution margin of $7.00
2. The unit sales for the deluxe souvenir sheets decreased by 37.5% compared to the regular souvenir sheets.
3. The postal service should set the selling price for the deluxe souvenir sheet at $15.00
4. The exact number of deluxe sheets is 45.
Calculation of the increase (decrease) in total contribution margin:
The contribution margin is calculated as the selling price minus the variable cost per unit. Given the information, we have:
Selling price of regular souvenir sheets: $8.00
Selling price of deluxe souvenir sheets: $15.00
Number of regular souvenir sheets sold: 80,000
Number of deluxe souvenir sheets sold: 50,000
To calculate the increase (decrease) in total contribution margin, we need to compare the contribution margin of the two scenarios:
Contribution margin regular souvenir sheets = Selling price - Variable cost
= $8.00 - Variable cost
Contribution margin deluxe souvenir sheets = Selling price - Variable cost
= $15.00 - Variable cost
To find the increase (decrease), we'll subtract the contribution margin of regular souvenir sheets from that of deluxe souvenir sheets:
Increase (decrease) in contribution margin = Contribution margin deluxe - Contribution margin regular
= ($15.00 - Variable cost) - ($8.00 - Variable cost)
= $15.00 - $8.00
= $7.00
So, the postal service experienced an increase in total contribution margin of $7.00 when selling 50,000 deluxe souvenir sheets compared to selling 80,000 regular souvenir sheets.
2. Calculation of the percentage increase in selling price and unit sales:
Percentage increase in selling price = [(Selling price deluxe - Selling price regular) / Selling price regular] * 100
= [(15.00 - 8.00) / 8.00] * 100
= 87.5%
Therefore, the St. Vincent post office increased the selling price for the deluxe souvenir sheet by 87.5% compared to the regular souvenir sheets.
Percentage increase in unit sales = [(Unit sales deluxe - Unit sales regular) / Unit sales regular] * 100
= [(50,000 - 80,000) / 80,000] * 100
= -37.5%
The unit sales for the deluxe souvenir sheets decreased by 37.5% compared to the regular souvenir sheets.
3. Calculation of the selling price for the deluxe souvenir sheet to maintain the same total contribution margin per unit:
To maintain the same total contribution margin per unit, the selling price for the deluxe souvenir sheet should be equal to the selling price for the regular souvenir sheet plus the increase in contribution margin per unit:
Selling price deluxe = Selling price regular + Increase in contribution margin
= $8.00 + $7.00
= $15.00
So, the postal service should set the selling price for the deluxe souvenir sheet at $15.00 to maintain the same total contribution margin per unit.
4. Calculation of the number of deluxe souvenir sheets to be sold to equal the total contribution margin earned from selling 80,000 regular souvenir sheets:
Total contribution margin from selling regular souvenir sheets = Contribution margin regular * Number of regular sheets sold
= ($8.00 - Variable cost) * 80,000
To calculate the number of deluxe souvenir sheets to be sold, we'll set the total contribution margin equal to that of regular sheets and solve for the number of deluxe sheets:
Contribution margin deluxe * Number of deluxe sheets = Contribution margin regular * Number of regular sheets
($15.00 - Variable cost) * Number of deluxe sheets = ($8.00 - Variable cost) * 80,000
Simplifying the equation:
Number of deluxe sheets = (Contribution margin regular * Number of regular sheets) / (Contribution margin deluxe)
= ($8.00 - Variable cost) * 80,000 / ($15.00 - Variable cost)
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What is one or more printed or electronic pages of information issued to generate publicity or shed light on a subject of interest.
Answers
News release is the one or more printed or electronic pages of material released to raise awareness of something or shine light on it. The option (E) is correct.
What does public relations publicity mean?Any information shared with the public through the media that has the power to alter public perception of a brand, organisation, person, or product is referred to as publicity. There is a mix of good and bad news because the entity being discussed doesn't manage or control the information.
What is an illustration of public relations and publicity?Campaigns in traditional media, sponsorships, product placement, social media campaigns, consumer education, and corporate social responsibility are a few examples of public relations.
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The complete question is below:-
A _____ is one or more printed or electronic pages of information issued to generate publicity or shed light on a subject of interest.
A. feature article
B. house organ
C. press bulletin
D. media announcement
E. news release
The following are Silver Corporation’s unit costs of making and selling an item at a volume of 8,000 units per month (which represents the company’s capacity):
Manufacturing:
Direct materials $ 4
Direct labor $ 5
Variable overhead $ 2
Fixed overhead $ 8
Selling and administrative:
Variable $ 1
Fixed $ 6
Present sales amount to 7,000 units per month. An order has been received from a customer in a foreign market for 1,000 units. The order would not affect regular sales. Total fixed costs, both manufacturing and selling and administrative, would not be affected by this order. The variable selling and administrative costs would have to be incurred for this special order as well as all other sales. Assume that direct labor is a variable cost.
What is the financial advantage (disadvantage) for the company from this special order if it prices the 1,000 units at $20 per unit?
Expected Correct Answer :
$8,000
Answers
To calculate the financial advantage or disadvantage of the special order, we need to calculate the incremental revenue and incremental costs associated with the order.
Incremental revenue from the special order:
1,000 units x $20 per unit = $20,000
Incremental cost from the special order:
Direct materials: 1,000 units x $4 per unit = $4,000
Direct labor: 1,000 units x $5 per unit = $5,000
Variable overhead: 1,000 units x $2 per unit = $2,000
Variable selling and administrative: 1,000 units x $1 per unit = $1,000
Total incremental cost = $12,000
Contribution margin from the special order:
Contribution margin = Incremental revenue - Incremental cost
Contribution margin = $20,000 - $12,000
Contribution margin = $8,000
Since the contribution margin is positive, the special order would have a financial advantage of $8,000 for the company.
Strict liability offenses:
1 impose liability on a defendant for the act of third parties.
2 dispense with the requirement of proof of any criminal intent on the part of the defendant.
3 are so classified because the punishments imposed on violators are especially harsh in comparison to the punishments for other criminal offenses.
4 require proof of some form of mens rea.
Answers
Strict liability offenses dispense with the requirement of proof of any criminal intent on the part of the defendant. The correct answer is option 2.
In these cases, it is not necessary to demonstrate men's rea or a guilty mind. Instead, the mere act of committing the offense is sufficient to impose liability, regardless of the defendant's intent or awareness.
Strict liability offenses dispense with the requirement of proof of any criminal intent on the part of the defendant. This means that the defendant can be held liable for committing the offense even if they did not intend to do so. However, it is important to note that strict liability offenses do not impose liability on a defendant for the actions of third parties and require some form of men's rea.
Additionally, while punishments for strict liability offenses may be harsh, this is not the reason for their classification as such.
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Providing transparency to consumers regarding customer satisfaction with
different companies is a goal of the.
A. Better Business Bureau
B. Consumer Financial Protection Bureau
C. Federal Trade Commission
D. Food and Drug Administration
Answers
Providing transparency to consumers regarding customer satisfaction with different companies is a goal of the Better Business Bureau.
What is the better business bureau?
This is a bureau in the United States and other nations in North America that helps to link customers with businesses that they can trust.
The goal of the bureau is to create market place trust between the consumers and businesses.
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Answer:
Better Business Bureau.
Explanation:
Suppose you win the lottery and have two options: A. Take $1 million now. B. Take $1.2 million to be paid out as 300,000 now and then $300,000 a year for 3 years. Which is the better deal? Assume that the interest rate is 10%. Please show your work. (4 point)
Answers
Answer:
A. Take $1 million now.
Explanation:
A. If we take $1 million now the present value of the money is $1 million.
B. If we choose to take $1.2 million paid out over 3 years then present value will at 10% will be;
$300,000 + $300,000 / 1.2 + $300,000/ 1.44 + $300,000 / 1.728
$300,000 + $250,000 + $208,000+ $173,611 = $931,944
The present value of option B is less than present value of option A. We should select option A and take $1 million now.
The following occurred during 20X1. A $35,000 note payable was issued. Land was purchased for $50,000. Bonds payable (maturing in 20X5) in the amount of $30,000 were retired by paying $30,000 cash. Capital stock in the amount of $40,000 was issued at par value. The company sold surplus equipment for $14,000. The equipment had a book value of $14,000 at the time of the sale. Net income was $35,500. Cash dividends of $5,000 were paid to the stockholders. 100 shares of stock of another company (considered short-term investments) were purchased for $8,300. $75,000 in bonds were issued. The next day, the proceeds were used to purchase a new building. $12,000 of depreciation was recorded on the plant and equipment. At December 31, 20X1, Cash was $93,200, Accounts receivable had a balance of $41,500, Inventory had increased to $73,000, and Accounts payable had fallen to $25,500. Long-term investments and Taxes payable were unchanged from 20X0. Required: Prepare a statement of cash flows for 20X1. Prepare the December 31, 20X1, balance sheet for Kay Wing, Inc.
Answers
Answer and Explanation:
The preparation of the statement of cash flow is shown below:-
Kay wing, Inc.
Statement of Cash Flows
For the Year Ended December 31,2021
Particulars Amount
Cash flows from operating activities:
Net income $35,500
Adjustment
Depreciation expense $12,000
Changes in current asset and liabilities
Increase in accounts receivable -$4,500
Increase in Inventory -$3,000
Decrease in accounts payable -$7,500 -$3,000
Net Cash Provided by Operating activities $32,500
Cash flows from Investing activities
Purchase of land -$50,000
Sale of Equipment $14000
Purchase of short-term
investment -$8,300
Net Cash Used by Investing
Activities -$44,300
Cash flows from Financing activities
Common Stock Issued $40,000
Bond payable -$30,000
Dividend paid -$5,000
Notes payable $35,000
Net Cash Provided by Financing activities $40,000
Net increase (decrease) in cash $28,200
Cash Balance at December 31, 2020 $65,000
Cash Balance at December 31, 2021 $93,200
2. The Preparation of balance sheet is shown below:-
Kay wing, Inc.
Balance Sheet
For the Year Ended December 31,20X1
Asset
Cash $93,200
Accounts receivable $41,500
Inventory $73,000
Long-term investments $20,000
Land $89,000
Plant and equipment $158,000
Short-term investment $8,300
Total assets $483,000
Liabilities
Accounts payable $25,500
Taxes payable $4,000
Note payable $35,000
Bonds payable $125,000
Stockholders equity
Capital stock $130,000
Retained earnings $163,500
Total liabilities and stockholders
equity $483,000
Note:
Plant and equipment - Sale of equipment - Depreciation + Purchase of building
Plant and equipment = $109,000 - $14,000 - $12,000 + $75,000
= $158,000
Retained earnings = Opening Retained earning + net income - dividend
= $133,000 + $35,500 - $5,000
= $163,500
who is a true chicken warrior
Answers
Answer:
anyone who deems themselves a chicken and the best warrior
Explanation:
they will head to the chiken k,astle for the tasiest chicken wqarrior soup and fitght the emporor chicken gor the title chickdn warrior