The crowding-out effect refers to the possibility that deficit financing will increase the interest rate and reduce investment.
What is crowding-out effect?
Crowding out is a phenomena in economics that happens when growing government participation in a market economy sector significantly impacts the rest of the market, either on the supply or demand side of the market.
When expansive fiscal policy results in less private sector investment spending, this is one form that is commonly debated. Government expenditure "crowds out" investment since it requires more loanable money, raising interest rates in the process and lowering investment spending. This fundamental examination has been expanded to include a number of channels, which might result in a little or even negative impact in the overall output.
Other economists use the term "crowding out" to describe the government supplying an item or service that would otherwise be available to private enterprise and be subject exclusively to the market dynamics found in voluntary trade.
The term "crowding out" is often used by behavioral economists and other social scientists to characterize a drawback of solutions based on private trade: the displacement of intrinsic motivation and prosocial norms as a result of the financial incentives of voluntary market exchange.
To learn more about the crowding-out from the given link
https://brainly.com/question/25589179
#SPJ4
the crowding-out effect refers to the possibility that multiple choice the asset demand for money varies inversely with the interest rate. deficit financing will increase the interest rate and reduce investment. when used simultaneously, expansionary fiscal and monetary policies are counterproductive. an increase in the supply of money will result in a decline in velocity.
During December, Acme, Inc., performed and billed its customers $27,000 for services on account of which it collected $9,000. How much revenue should Acme record in December?
The amount of revenue that should be recorded by Acme Inc, given the amount billed to customers is $ 27, 000.
How much should be revenue ?Revenue is the amount that a company recognizes when they sell goods or provide services. As per the Accrual basis, this amount is to be recognized even when the cash has not been paid so long as the services have been given or the goods provided.
The revenue that Acme Inc would then need to recognize is the amount that it billed its customers on account which is $ 27, 000.
Find out more on revenue at https://brainly.com/question/28433316
#SPJ1
Which option identifies the law represented in the following scenario?
Bauer comes out with a new hockey skate, and last year’s model sits on the shelves. The local hockey shop places last year’s model on sale for half price.
law of demand
law of diminishing marginal utility
law of supply and demand
law of supply
Answer:
A. law of demand
Explanation:
Which project management tool considers the longest time the completion of a sequence of activities might take?
To manage project activities, operations managers can calculate the ____ , which is a sequence of activities, the completion of which takes the longest time.
Which project management tool considers the longest time the completion of a sequence of activities might take?
To manage project activities, operations managers can calculate the ____ , which is a sequence of activities, the completion of which takes the longest time.
The project management tool that considers the longest time the completion of a sequence of activities might take is called the critical path. The critical path is a sequence of activities, the completion of which takes the longest time, and it determines the minimum amount of time required to complete a project. It is used to identify the most critical activities in a project and to ensure that they are completed on time in order to meet project deadlines. The critical path is determined by analyzing the dependencies between activities and the time required to complete each activity. By focusing on the critical path, project managers can ensure that the most important activities are prioritized and that the project stays on schedule.
the communication strategy to reduce resistance to change should be applied when the change must occur quickly with little financial cost. True or False
The statement the communication strategy to reduce resistance to change should be applied when the change must occur quickly with little financial cost is false because communication is the initial method for overcoming opposition to change.
You already understood that communication is essential. Try allowing your employees to start the dialogue. People want to be heard, and giving them the opportunity to do so will help reduce their unhappiness with the situation. The inability to adapt to change when it is presented is referred to as resistance to change.
Employees' unwillingness to adjust to organizational changes might be either overt or subtle. This might range from vocally voicing their opposition to unwittingly rejecting change through their language or general actions.
To learn more about financial cost, click here.
https://brainly.com/question/31455767
#SPJ1
Thirty-five samples of size 7 each were taken from a fertilizer-bag-filling machine at Panos Kouvelis Lifelong Lawn Ltd. The results were: Overall mean = 54.75 lb.; Average range R = 1.64 lb.
For the given sample size, the control limits for 3-sigma x chart are: _________
Based on the overall mean, the average range, and the control limit factor, the upper control limit is 55.437.
What is the upper control limit?This can be found by the formula:
= Overall mean + (Mean factor for sample size 7 x Average range)
Solving gives:
= 54.75 + (0.419 x 1.64)
= 55.437
Find out more on control limits at https://brainly.com/question/15581863.
What does it mean for a marketer to use an integrated promotional strategy?
A. Developing a promotional mix in which all methods work together
toward a shared purpose
B. Measuring success in terms of number of people who receive a message, customers' attitudes, and sales volume
C. Promoting products to end users, so they will persuade resellers
to carry the products
D. Promoting products to wholesalers and retailers, so they will in
turn promote to consumers
Please help
Answer:
the answer is A. Developong a promotional mix in which all methods work together toward a shared purpose.
Explanation:
In order to use an integrated promotional strategy by developing a promotional mix in which all methods work together toward a shared purpose. Thus, option 'A' is the correct option.
What is an integrated promotional strategy?A strategy for communicating a consistent message via all the marketing platforms your brand employs is called integrated marketing. It offers uniformity no matter where clients choose to deal with a business. Without an integrated marketing plan, you run the danger of conveying conflicting information or speaking incoherently.
With the aid of an integrated content strategy, sales prospects may advance through the conversion funnel at their own speed and on their own terms. With awareness-raising and educational content like films, infographics, and whitepapers, your buyer's sales journey gets started. A coordinated strategy, overall corporate goals, and company values are followed by all channels of marketing communications under an integrated approach.
Learn more about integrated promotional strategy, here:
https://brainly.com/question/14591818
#SPJ5
Anastasia is a principal who is responsible for telling one of her teachers that the school will be cutting her Spanish program in the fall. She has been friends with this teacher for years and knows that the teacher will be very upset. What is the most appropriate communication channel for Anastasia to choose to share this news with the teacher in this scenario?
Question 2 options:
She should send the teacher a formal, typed letter.
She should talk to the teacher face-to-face.
She should send the teacher a text message.
She should post the news on the school website.
Answer she should talk to her face to face
Explanation:
if she respects this woman that is the best way to keep it
quick please I need help
Answer:
Answer below
Explanation:
Income
Monthly income $60 ( the $15 per week * 4 the number of weeks in a month ).
Grandparents $30
Total income $90
Essential expenses ( fixed )
Bicycle tune up $20
Essential expenses ( variable )
New bike tire $5
Non-essential expenses
Game $50
Total expenses $75
Total savings $15
I REALLY HOPE THIS HELPED YOU
Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
Know more about Adjusted gross income here:
https://brainly.com/question/31249839
#SPJ8
Rosita purchased 300 shares of a stock for $37 a share. Today, the stock is selling for $41 a share. The initial margin requirement is 70 percent and the maintenance margin is 30 percent. Rosita had to pay _____ in cash to purchase the stock and must have at least _____ in equity today.
Answer: $7,770; $3,690
Explanation:
Rosita purchased 300 shares of a stock for $37 a share. Today, the stock is selling for $41 a share. The initial margin requirement is 70 percent and the maintenance margin is 30 percent. Rosita had to pay $7,770 in cash to purchase the stock and must have at least $3,690 in equity today.
Amount Rosie had to pay in cash:
= Number of shares * Value of shares * Initial margin requirement
= 300 * 37 * 70%
= $7,770
Least amount to have in equity:
= Number of shares * current value of shares * maintenance margin
= 300 * 41 * 30%
= $3,690
A firm has an average total cost of $50. If it sells 20 units of its product at $80 each, what is its profit?
You and your best friend decide you would like to open a coffee shop. Create a sample logo, showcasing the name of your coffee shop. Determine the most appropriate way to protect your business name and logo through choosing the applicable intellectual property law.
Follow these steps to complete this activity. You will choose a name, create a logo with your preferred design program, and fill out a sample application for protecting your intellectual property.
Step 1: Create a name and relevant logo
Decide on a name for the coffee shop.
Using your preferred design program, create a relevant logo.
Step 2: Choose intellectual property law and do online research
Determine which intellectual property law applies to protecting names and logos.
Go online to your state’s government site.
Find applications to register and protect intellectual property.
Step 3: Complete application
Download the appropriate application.
Fill it out as if you planned to submit it.
To protect the name and logo of a coffee shop, one should choose the appropriate intellectual property law and complete the necessary application.
To protect their business name and logo, the owners should choose the applicable intellectual property law, such as trademarks or copyrights.
What steps must we follow to fill the application out as if you planned to submit it?To complete the application for protecting the name and logo of your coffee shop, you can start by researching the relevant intellectual property law that applies to your situation.
Trademarks are the most common form of protection for business names and logos, so you should research the trademark registration process and requirements. Visit the website of the United States Patent and Trademark Office (USPTO) to learn more about trademarks and fill out the appropriate application form.
The application will require basic information about your business, such as the name and address, as well as a description of the logo and its intended use. You will also need to pay the application fee, which varies depending on the type of application and the number of trademark classes you choose. Once you have completed the application, you can submit it online or by mail to begin the process of protecting your coffee shop's name and logo
Read more about intellectual property
brainly.com/question/1078532
#SPJ1
What is the main risk for an entrepreneur?
Entrepreneurs can assume a variety of risks. One of the most prevalent types of risk is market risk, which is the risk an investor takes as a result of market volatility.
Both the business owner and any early investors they enlist should be prepared for this kind of risk when launching a new venture. The use of technology, credibility, and rivalry are further types of risk.
There are some risks involved with implementing new technology into your business operations, such as the possibility that the price of the software or hardware will be higher than the revenue generated by its use. The potential for technological failure, which could lead to data breaches, website outages, and information theft, is another type of technological risk.
The pricing and marketing tactics of competitors, which can be unpredictable and disruptive, present another type of risk.
To know more about market risk
https://brainly.com/question/29551474
#SPJ4
Maria is going to a hiking trip this weekend. She has been busy shopping for the trip. Which of these items that she bought are a want for her? A. hiking boots B. sleeping bag C. a new pair of jeans
Answer:
C. a new pair of jeans
Explanation:
Answer:
c
Explanation:
What are the important differences between a "capitalist - free market" economy and a "socialist" economy? Which do you prefer for the U.S. and why?
Use personal examples to show me you understand the two economic types. Use information from the text to show me you have read and understand the concepts explained in the text.
Remember to use at least 2 paragraphs, preferably 3. A paragraph is more than two sentences. Think about this! It's okay to give me more than 3 paragraphs if you enjoy the subject.
Use at least two citations to back up your opinion. THE FIRST citation must be from the textbook NOT THE INTERNET! Show me that you read and understood the textbook. The citation can be simple. Use "quotations" around any quoted or PARAPHRASED information and place a number after the citation in parentheses. (1)
At the bottom of your text place a corresponding citation after the number in parentheses (1) showing the book and page number or URL used for the citation. Cite the textbook First before using the internet for material.
Textbook citations can be simple: (1) Understanding Business ed.13, pg. 101
Use the complete URL if using information from the internet as a secondary source: (2) https://www.forbes.com/sites/forbestechcouncil/2021/07/27/a-lesson-from-japan-real-change-is-emotional/?sh=5beb6dc9338f
Socialism relies on central planning and limits on private resource ownership, whereas capitalism is based on individual initiative and favors market forces over the intervention of the state. When given free rein, economies usually combine elements from the two systems.
Which is more capitalist or socialist in US economic policy?In the United States, capitalism has always been the dominant economic system. It is defined as an economic structure in which private parties, as opposed to the state, own and control the labor force, capital assets, and raw materials used in manufacturing.
It has increased access to education, gradually increased the value of labor, and enabled a level of economic mobility that was previously impossible. The ordinary modern person nonetheless has a far superior quality of life than their forebears from earlier times, while working significantly fewer hours and in significantly better surroundings.
Central components of a free market economy, such as private property, unrestricted foreign trade, the free interchange of goods, and the free determination of prices, are present in the social market. In contrast to what happens in a free market economy, the state takes an active role in enforcing regulations.
The labor force, raw materials, and capital goods are under the control of private enterprises in a capitalist economy. The government controls the labor force, the raw materials, and the capital goods in a socialist economy
In the US, capitalism is the dominant economic system. A market economy exists there. People, not the government, own the majority of enterprises in a capitalist society. Businesses in the US choose what products to market.
Learn more about free market economy: https://brainly.com/question/30281184
#SPJ1
PLEASE I WILL GIVE A BRAINLIEST
Credit Unions give smaller loans to individuals, banks do not
What is the Bank about?One advantage of a Bank over a Credit Union is that Banks as a rule offer a more extensive extend of budgetary administrations and items, such as speculation administrations, credit cards, and protections items. Moreover, Banks may have more branches and ATMs accessible for their clients, making it less demanding to get to their stores.
In terms of online charge installment, Banks are more likely to offer this benefit compared to Credit Unions. Most Banks offer online managing an account administrations that permit clients to oversee their accounts, pay bills, and exchange cash electronically.
Learn more about Bank from
https://brainly.com/question/25642105
#SPJ1
See text below
Bank
What is the biggest difference between a Bank and a Credit Union?
O
Who owns the institution
Banks give loans to businesses, credit unions don't
Credit Unions give smaller loans to individuals, banks do not
Both are inferior to Savings and Loans for checking accounts
What is one advantage of a Bank over a Credit Union?
You will always have lower fees at a bank
Banks offer online banking, credit unions do not
Banks usually offer a lot more types of checking accounts to choose from
Banks give better interest rates for mortgages
Which institution will likely offer online bill payment features?
Banks
31
Despite your numerous emails and voicemail messages, a normally dependable vendor has not responded to your important question. Which of the following would be a sensible next step?
A) Consider sending a printed message.
B) Broadcast "high-priority" or "urgent" emails at ten-minute intervals.
C) Use social media to vent your frustrations with the vendor.
D) Bombard the vendor with text messages until he responds.
E) Develop a podcast to be shared with the vendor.
Answer:
A) Consider sending a printed message.
Explanation:
According to the scenario, the most sensible step to get an important response from a supplier after the supplier has not responded would be to send a printed message.
This option would be ideal among the other alternatives above, as it demonstrates that you understand that the supplier may not have seen or been aware of your question, even if numerous e-mails have already been sent, and still awaits an answer , in accordance with professional and ethical communication standards.
Sovereignty can best be described as ________.
Answer:
a government asserting control over and responsibility for its citizens and their actions.
Explanation:
Sovereignty means the power, right and ability of a government to exercise control over itself without any foreign or external control. It means the state of being supreme in authority.
Sovereignty enables a state or a government have total control over its citizens without external influence and also gives a state the capacity to enter into relations with other states. Sovereignty gives power to the people to have their leaders or government elected hence important because such government must be respected due to its sovereign status.
(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?
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%.
L learn more on Variance on https://brainly.com/question/9304306
#SPJ1
AR - should be
AR- entry made differencee
Accounts Receivable (AR) refers to the outstanding balances owed to a business by its customers or clients for goods or services that have been provided on credit.
Accounts Receivable represents the money that is expected to be received by the business in the future for the sales made on credit. When a company sells its products or services on credit, it generates an account receivable.
The amount owed by each customer is recorded as an account receivable on the company's balance sheet. AR is considered an asset because it represents the company's right to receive payment in the future.
Learn more about Accounts Receivable here:
https://brainly.com/question/32362271
#SPJ1
The complete question might be:
What is Accounts Receivable(AR)?
Kate was turned down for a job because of a bad credit report. The creditor is required to give her the name of the credit bureau that supplied the report, according to
the:
Fair Credit Reporting Act.
Fair Credit Billing Act.
Truth in Lending Law.
Equal Credit Opportunity Act
The creditor is required to give Kate the name of the credit bureau that supplied the report under the Fair Credit Reporting Act (FCRA). The FCRA is a federal law that regulates the collection, use, and disclosure of consumer credit information. Under the FCRA, creditors are required to provide consumers with a copy of their credit report upon request. They are also required to provide consumers with the name and address of each credit bureau that has provided them with a report within the past two years.
The other laws you mentioned are also important, but they do not specifically address the issue of providing consumers with the name of the credit bureau that supplied their report. The Fair Credit Billing Act (FCBA) regulates the billing practices of creditors and credit card companies. The Truth in Lending Law (TILA) requires lenders to disclose certain information to borrowers, such as the annual percentage rate (APR) and the total amount of interest that will be charged on a loan. The Equal Credit Opportunity Act (ECOA) prohibits creditors from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, age, or because they receive income from a public assistance program.
A project with an initial cost of $26,900 is expected to generate cash flows of $6,500, $8,600, $9,050, $7,950, and $7,300 over each of the next five years, respectively. What is the project's payback period
Answer:
b
Explanation:
You and a group of friends are planning to visit a theme park, which charges $60 for admission, $90 for a two-day pass, and $110 for a three-day pass. Your friends are interested in spending a lot of time there, but they’re worried about paying a lot of money. You explain the concept of marginal cost, which helps them see that the additional day is a good value.
The average cost per day of a three-day pass is $_______.
The marginal cost of adding the third day is $_______.
If there are 7 people in your group, the group's marginal cost of switching from the two-day pass to the three-day pass is $________.
Answer:
The average cost per day of a three-day pass is $36.6
To find the average cost, we simply divide the cost of the three-day pass $110, by the number of days:
$110/3 = $36.6
The marginal cost of adding the third day is $20
The marginal cost is the additional cost incurred when adding the third day. We can find it by substracting the cost of the two-day pass from the cost of the three-day pass:
$110 - $90 = $20
If there are 7 people in your group, the group's marginal cost of switching from the two-day pass to the three-day pass is $140
If we assume that the values in the question are per person, then the answer is: $140
$110 * 7 = $770
$90 * 7 = $630
$770 - $630 = $140
Task 2: Writing a Cover Letter Prepare a cover letter to highlight your skills required for the job identified in the previous task. Apply the tips for writing cover letters that you learned in this course.
In a Job context, a cover Letter is important because its provides the hiring manager with further detail on how your skill set aligns with the role, what you can bring to the team and why you want the position.
How to write good cover letter:A good cover letter for a job should be well-written and tailored to the specific job and company you are applying to. It should also be concise and to the point.
Here are some tips for writing a strong cover letter:
Address the letter to a specific person, if possible. This shows that you have done your research on the company.Start with a strong opening sentence that hooks the reader's attention and makes them want to read more.Explain why you are a good fit for the job, and how your skills and experiences make you a valuable asset to the company.Tailor your cover letter to the specific job you are applying for, by highlighting relevant experiences or skills.Use specific examples to illustrate your qualifications, and avoid generic language or cliches.End the letter with a call to action, such as asking for an interview or requesting that your resume be considered for the position.Proofread your cover letter multiple times before submitting, to ensure that it is error-free.Be sure to use a professional tone and format, and avoid using emoticons or text language.If you are applying online, make sure to save and submit the document in the correct format as per employer's instruction.Read more about cover letter
brainly.com/question/3602860
#SPJ1
Determine the missing amount:
Assets=Liabilities+owners Equity x 272000 573000
Based on the given amounts of assets and liabilities, the missing amount of Owner's equity is $301,000
How to find the equity?The Owners equity is one of the parts of the Accounting equation which is:
Assets = Liabilities + Owners Equity
The Assets in this instance is $573,000 and the Liabilities are $272,000.
The Owner's equity is the missing amount and it can be found as:
573,000 = 272,000 + Owners Equity
Owners Equity = 573,000 - 272,000
Owners Equity = $301,000
Find out more on owner's equity at https://brainly.com/question/28222828
#SPJ1
1. You need to determine what is necessary for securing funds from an investor so:
a. A demonstration of product/market fit (True or False)
b. Financial data about profits, expenses, and financial projections (True or
False)
c. A good explanation of your team's knowledge, skills, and abilities. (True
or False)
d. A plan detailing how you will use the funds to grow or improve your
business (True or False)
The focus of this guide will include the following five topics. • Business Legal Structure. • Business Physical Operations. • Business Regulations
What is the purpose of business regulations?The U.S. government has set many business regulations in place to protect employees' rights, protect the environment and hold corporations accountable for the amount of power they have in a very business-driven society.
What are the four regulations?These core regulatory components—regulator, target, command, and consequences—affect the incentives and flexibility that a regulation provides. Regulated businesses will have maximal flexibility when the regulator is the industry itself.
To know more about Business Regulations visit:
https://brainly.com/question/28134450
#SPJ1
FILL IN THE BLANK. The ___________________ is the institution designed to control the quantity of money in the economy and also to oversee the:
The Central Bank is an institution designed to control the quantity of money in the economy and also to oversee the safety and stability of the banking system.
What are the roles and responsibilities of the Central Bank?The role of the Central bank is responsible for overseeing the monetary system for a nation or group of nations, along with a wide range of other responsibilities, from overseeing monetary policy to implementing specific goals such as currency stability, low inflation, and full employment.
The role of the central bank has grown in importance in the last century. To ensure the stability of a country's currency, the central bank should be the regulator and authority in the banking and monetary systems.
It also has responsibilities including, issuing money, stabilizing financial systems, and others.
Learn more about central, here:
https://brainly.com/question/28332753
#SPJ1
Disadvantages of the matrix organization structure are efficient use of resources because of ease of access efficient communication easy to manage difficult to manage Disadvantages of the matrix organization structure are efficient use of resources because of ease of access efficient communication easy to manage difficult to manage
Difficulty in terms of management of an organization as there is the involvement of overlapping teams, more information, and multiple managers is one of the major disadvantages of matrix organization structure.
What is matrix organization structure?A combination of or greater varieties of organizational structures is referred to as a matrix structure. It is a manner of arranging your enterprise so you set up reporting relationships as a grid, or a matrix, in preference to in the conventional hierarchy.
hence, Difficulty in terms of management of an organization as there is the involvement of overlapping teams, more information, and multiple managers is one of the major disadvantages of matrix organization structure.
Learn more about matrix organization structure:
https://brainly.com/question/7437866
#SPJ1
The following is the ending balances of accounts at December 31, 2021, for the Weismuller Publishing Company.
Account Title Debits Credits
Cash $91,000
Accounts receivable 186,000
Inventory 298,000
Prepaid expenses 174,000
Equipment 346,000
Accumulated depreciation $123,000
Investments 166,000
Accounts payable 73,000
Interest payable 33,000
Deferred revenue 93,000
Income taxes payable 43,000
Notes payable 265,000
Allowance for uncollectible accounts 29,000
Common stock 413,000
Retained earnings 189,000
Totals $1,261,000 $1,261,000
Additional information:
1. Prepaid expenses include $146,000 paid on December 31, 2021, for a two-year lease on the building that houses both the administrative offices and the manufacturing facility.
2. Investments include $43,000 in Treasury bills purchased on November 30, 2021. The bills mature on January 30, 2022. The remaining $123,000 is an investment in equity securities that the company intends to sell in the next year.
3. Deferred revenue represents customer prepayments for magazine subscriptions. Subscriptions are for periods of one year or less.
4. The notes payable account consists of the following:
a. a $53,000 note due in six months.
b. a $134,000 note due in six years.
c. a $78,000 note due in three annual installments of $26,000 each, with the next installment due August 31, 2022. The common stock account represents 413,000 shares of no par value common stock issued and outstanding. The corporation has 826,000 shares authorized.
Required:
Prepare a classified balanced sheet for the Weismuller Publishing Company at December 31, 2021.
Answer:
A balance sheet for Weismuller publishing for December 31 2021 was prepared and recorded in the explanation section below
Explanation:
Solution
COMPANY: WEISMULLER PUBLISHING Balance Sheet At December 31 2021 Assets
Current assets:
Cash and cash equivalents ($91,000 + $43000) $134000
Short term investments ($166,000 - $43000) $123000
The net accounts receivable ($186,000 =$29,000) $175,000
Inventory $298,000
Prepaid expense [174,000-(14600/2)] $101,000
The total current assets $813,000
Note: Kindly find an attached copy of the [art of the complete solution to this question below
At the end of April, the first month of the company's year, the usual adjusting entry transferring rent earned to a revenue account from the unearned rent account was omitted. Indicate which items will be incorrectly stated, because of the error, on (a) the income statement for April and (b) the balance sheet as of April 30. Also indicate whether the items in error will be overstated or understated.
Answer:
Overstatement is the situation where the amount of any item has been stated more than its actual figure
Understatement is the situation where the amount of any item has been stated less than its actual figure
a. The rent earned will be understated, as a result of which the income statement will give a lower net income.
b. Because of lower net income, retained earnings in stockholders' equity will be understated, and the liability account of unearned rent will be overstated