Answer:
B. the recognition lag.
Explanation:
Recognition lag means the delay that lies between the economic shock arise and when it should be seen by the economist, government etc. Here the delays could be arise as the data that documented the economy state should not be available on the instant basis and after this it takes the time to analyze it correctly
Therefore as per the given situation, the option b is correct
new york city is the most expensive city in the united states for lodging the man hotel room rate is $204 per night . assume the room rates are normally distributed with a standard deviation of $55. what is the probability a room cost $225 or more a night
Mary runs an ad in the paper offering a $5 reward for the return of her lost dog, Sparky. Mary has made a promise to pay the person who performs the act of returning Sparky. This is a(n) _____ contract. Select one: a. quasi b. implied c. bilateral d. unilateral
Answer:
This is a Unilateral contract
Explanation:
Mary has made a promise to pay the person who performs the act of returning Sparky therefore this is an example of a unilateral contract.
A unilateral contract is a type of contract agreement where an offeror such as Mary makes a promise to pay after the performance of a specified act, which is to return her dog Sparky
in 2001 an outbreak of hoof-and-mouth disease in europe led to the burning of millions of cattle carcasses. discuss the demand and supply implication caused by the outbreak, for an in-depth analysis of the discussion topic you may use all of the resources available to you. what impact would you expect on the supply of cattle hides, hide prices, the supply of leather goods, and the price of leather goods
Answer:
High demand
Low supply
High prices
Explanation:
The demand and supply of products, goods and services is heavily dependent on several factors ranging from economic, health and social factors. Disease and viral outbreaks have devastating effects on the market forces of demand and supply which in most cases will impact the market negatively with characteristically high prices and scarcity of products. The mouth and hoof outbreak in Europe was one which impacted the economy including farmers, leather and hides workers and all whose businesses and sustainability depends on cattles and its products. Due to the contagious nature of the disease and the ease at which it could spread if curtailment isn't effected on time, millions of cattles were slaughtered on sighting the symptoms and it's products including skins are burnt leading to losses in billions on the path of cattle rearers, shortage of lather, hides and skins, restriction in international product trade in other to avoid its spread to other parts of the world. These resulted in low supply and high demand of cattles and its products including leather goods meaning High prices for little available.
CASE - Designing an effective Training program for MediaTek Corporation
MediaTek Corporation, one of the leading companies in Taiwan, located on the continent of East Asia, has
asked you and your team to design a training programme that will assist them in addressing low employee
engagement in their four departments. Several attempts to increase employee engagement have been
ineffective or have had a lesser impact than anticipated. This has resulted in low job performance and
increased employee absenteeism.
YOUR TASK
(a) Explain any 4 contextual factors to be considered by you, the consultant, in such a training programme.
(8) marks)
(b) Why must you do a rapid evidence assessment? (3marks)
(c) Outline three reasons why you must set up a steering committee? (6 marks)
(d) What constitutes the Architectural Design of such a training programme? (3 marks)
(a) Factors include the organizational culture, the specific needs of the four departments, the company's strategy and goals, and the available resources.
(b)Rapid evidence assessment is essential to ensure that the training program is based on the most up-to-date and evidence-based best practices.
(c)1) To ensure that the training program is in alignment with the company goals and values, (2) To provide diverse perspectives from different departments and stakeholders, and (3) To assist in the design and implementation of the training program to ensure successful outcomes.
(d) The architectural design of such a training program includes understanding the training's objectives, developing a curriculum or content, designing instructional methods, setting up a timeline, and involving skilled trainers or facilitators.
(a)Understanding the organizational culture will help ensure that the training program aligns with the company's values and norms. Assessing the unique needs of each department will ensure that the training program addresses their specific challenges. Alignment with the company's strategy and goals will ensure that the training program supports the company's overall vision. Finally, it is essential to consider the budget, staffing, and time constraints available for the training program.
(b)It involves quickly gathering and synthesizing research and data on employee engagement and training programs to inform the development of the training program. This can help ensure that the training program is effective in addressing the challenges faced by MediaTek Corporation.
(c) Setting up a steering committee is essential for a training program like this. Three reasons include: (1) To ensure that the training program is in alignment with the company goals and values, (2) To provide diverse perspectives from different departments and stakeholders, and (3) To assist in the design and implementation of the training program to ensure successful outcomes.
(d)This can ensure that individuals who participate in the training program will have the knowledge, skills, and tools they need to address the issues of low employee engagement in their respective departments. The program should also be designed to foster active engagement and participation from participants.
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Future Cost: If one year of college currently costs $25,000, how much will it cost Grand Rapids, Michigan's resident Michelle Spindle to pay for one year of schooling for newborn daughter, Melissa, 18 years from now, assuming a 5 percent annual rate of inflation? Use Appendix A-1 or the Garman/Forgue companion website
With current rates of 25,000 dollars, Michelle Spindle will have to pay 52,360 dollars in fees for her daughter Melissa when she is 18 years old, assuming a 5 percent yearly rate of inflation.
Hence, answer is 52,360$
How to find?
Current fees= 25,000$
Annual Rate of inflation= 18%
So, by this per year increase would be = 25,000*18/100= 1250$.
After 18 years , the amount would be = 1250*18= 27,360
If, we add the current fees, then total amount would be= 25,000+ 27,360= 52,360$.
What is inflation, and what is an example?The gradual rise in the cost of goods and services over time is known as inflation. It causes money (like the U.S. Dollar) to lose value, which has negative effects including raising the cost of living.
Consider how much a sweets bar cost when you were a young child. Consider how much the same sweets bar would cost now.
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The operating budget provides a roadmap for financial plans for a short-term, future period. What is a typical “future period” for an operating budget?
An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.
The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.
An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.
The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.
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(214) 1. Distinguish between technical efficiency and allocative efficiency. Use the two concepts of efficiency to compare a perfect market structure with a monopoly.
Technical efficiency refers to the ability to produce the maximum output from a given set of inputs or resources. It focuses on the production process and achieving the highest output level with the least amount of resources wasted. Technical efficiency emphasizes optimizing the production process to minimize costs and maximize productivity.
Allocative efficiency, on the other hand, relates to the allocation of resources in a way that maximizes overall social welfare. It refers to the ideal allocation of resources that matches consumers' preferences and demands. Allocative efficiency ensures that resources are allocated so that goods and services align with consumer preferences. This results in the best outcome for society.
When comparing an ideal market structure with a monopoly in terms of efficiency, there are significant differences. In an ideal market structure, characterized by complete competition, both technical and allocative efficiency is typically achieved. Many buyers and sellers exist, information is freely available, and no single entity controls the market. Competition drives firms to produce at the lowest cost and offer goods and services that match consumer preferences, leading to technical and economic efficiency.
In contrast, a monopoly represents a market structure where a single firm dominates the industry and has substantial market power. In terms of technical efficiency, a monopoly may not necessarily achieve the same level as a perfectly competitive market. Due to the lack of competition, a monopoly may not have the same incentive to minimize costs or innovate as efficiently as possible. This can result in higher production costs and lower technical efficiency.
Regarding allocation efficiency, monopolies often fail. Without competition, a monopolistic firm can set prices higher than the marginal cost of production, resulting in a suboptimal allocation of resources. The monopolist may prioritize maximizing profits rather than satisfying consumer preferences. This leads to a less efficient allocation of resources than in a perfectly competitive market.
Overall, an ideal market structure exhibits higher levels of technical and allocative efficiency than a monopoly. When true competition promotes resource optimization and consumer satisfaction, resulting in more efficient resource allocation.
Select the correct answer.
Jacob has shown interest in assignments in another business unit, but in the same organization. He approaches the HR manager with the request. What can the HR person do in this case?
A.
give him a salary raise and retain him in the same department
B.
defer the case to the company lawyer
C.
facilitate a lateral transfer process
D.
ask the employee to resign due to distractions
Answer: B i think.
Explanation:
Answer: the answer is c
Explanation: got it correct and if he wants to transfer he is not going to take a raise and stay and there is no reason to get a lawyer involved and the last one is just common since
Give an example of situation in which a surplus of a product lead to decreased prices.
Similarly give an example of a situation in which a shortage lead to increased prices.
Example of a situation in which a surplus of a product leads to decreased prices is food staples in America.
An example of a situation in which a shortage leads to increased prices is increasing prices of fuel due to a lack of fossil fuel availability.
What is refers as a surplus of any product?Surplus of any product refers to a situation when the availability of goods is in more quantity whereas the demands for the products are sufficient which makes it decrease in the prices of products.
Food staples like frozen foods and vegetables along with eggs are considered a surplus product in America.
The prices of fossil fuels are increasing in the world as they are obtained through fossils that are not available in abundance which creates high demands for daily consumption and results in shortage.
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The owner of Smash My PC reports income on their personal taxes and is held personally liable for all debt, lawsuits,
and judgments against the business. Smash My PC is
Oa C-corp
a partnership
an S-corp
a sole proprietorship
The owner of Smash My PC reports income on their personal taxes and is held personally liable for all debt, lawsuits, and judgments against the business. Smash My PC is Option D. a Sole proprietorship.
Sole proprietorship is the most popular form of business ownership in the United States and is frequently the simplest to start and run. It is a form of business organization in which a single individual owns and operates the company, assumes all financial risk, and is entirely responsible for the company's losses and debts. The proprietor has complete control over the company and makes all decisions, including whether to hire employees or seek outside investment.
The proprietor is responsible for filing income taxes and paying any taxes owed. As a result, a sole proprietorship's earnings are taxed on the owner's individual tax return. There are no formal processes to establish a sole proprietorship. An individual must obtain any necessary licenses and permits and register the company with local and state authorities.
In contrast to other business types, a sole proprietorship can be established without filing documents with the state. Smash My PC is a Sole proprietorship since the owner is the single individual who owns and operates the company, assumes all financial risk, and is entirely responsible for the company's losses and debts. Therefore, the correct option is D.
The question was incomplete, Find the full content below:
The owner of Smash My PC reports income on their personal taxes and is held personally liable for all debt, lawsuits, and judgments against the business. Smash My PC is
A. a C-corp
B. a partnership
C. an S-corp
D. a sole proprietorship
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Assessing an organization's strengths and weaknesses is an essential part of aligning projects with the organization. A project may be difficult to complete successfully if it supports the organization's goals, but the organization does not have the right capabilities. All of these are factors that could cause the project to be unsuccessful EXCEPT: a. necessary skills required for potential projects are not available internally and not easily acquired. b. project management processes are clearly defined and understood. c. individuals and teams require higher level leadership to assign tasks and make project decisions. d. organization is risk-averse at all levels.
All of these are factors that could cause the project to be unsuccessful EXCEPT necessary skills required for potential projects are not available internally and not easily acquired.
What does a SWOT analysis in project management accomplish?SWOT analysis is a technique used in project management to evaluate a project's advantages, disadvantages, opportunities, and threats. It aids stakeholders in deciding which project components to concentrate on as well as any dangers to prepare for.
Which of the following, by choosing the appropriate programs or projects, prioritizing the work, and providing the required resources, is in line with organizational strategies?By choosing the appropriate projects, setting work priorities, and allocating necessary resources, portfolio management works in accordance with organizational strategies.
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Choose and explain which entrepreneur characteristic is the most important.
a. All of the above
b. Motivation = because owners must endure hardships and difficulties as the owner.
c. Decision-making = because their decisions directly impact the fortunes of the business.
d. Sight and Foresight = because owners must be prepared in advance for what the market
will eventually bring to their business.
Answer:
a. All of the above
Explanation:
An entrepreneur conceives an idea, spearheads the process of transforming the idea into a business by making critical decisions and absorbing associated risks. An entrepreneur possesses certain characteristics that enable them to convert an idea into a profitable and sustainable business.
Some of those traits include.
Motivation: Naturally, entrepreneurs are motivated to see their ventures succeed. They put in long hours to achieve their dreams.Decision Making: Entrepreneurs are not afraid to make difficult decisions. When quick and important decisions are required, entrepreneurs respond promptly, knowing success or failure lies in there.Vision: They visualize what they want to achieve and work hard towards achieving those objectives.Passion: Entrepreneurs are passionate about their business and its success. They talk and act positively about the venture.Confidence: they believe in themselves and their ideas/business. Without confidence, entrepreneurs will not succeed.n 2019, the top 4 customers of Brady Corp provided the following revenue. Jenny: $400 Svetlana: $300 Kerry: $900 Maria: $1,200 Brady Corp reported the following for 2019: Total Third Party Revenue. $6,000 Total Intersegment Revenue $9,000 Total Expenses $4,000 Under the major customer test, which customers must Brady Corp provide disclosure about. a. Kerry and Maria b. No customer disclosure required c. Kerry, Maria, Jenny, Svetlana d. Maria only e. Kerry, Maria and Jenny
Answer:
Brady Corporation
Under the major customer test, the customers that Brady must provide disclosure about are:
b. No customer disclosure required.
Explanation:
a) Data and Calculations:
Revenue by top 4 customers:
Jenny: $400
Svetlana: $300
Kerry: $900
Maria: $1,200
Brady Corp Income Statement Details:
Total Third Party Revenue $6,000
Total Intersegment Revenue $9,000
Total company revenue $15,000 (10% of $15,000 = $1,500)
Total Expenses $4,000
Total net operating income $11,000
b) The major customer test requires that if 10 percent or more of the revenue of Brady Corp is derived from sales to any single customer, this fact and the amount of revenue from each such customer shall be disclosed. In this case, there is no customer that gives Brady Corp 10% of its total revenue of $15,000 (or $1,500). It is only Maria that comes close to $1,500. Therefore, this major customer disclosure will not be made by Brady Corp. in 2019.
The sovereign rating for Vietnam is B2 (with a default spread of 5%), the standard deviation in the Vietnamese equity index is 30% and the standard deviation in the Vietnamese government bond is 24%. If the premium for a mature market (say, the US) is 5.5%, estimate the total equity risk premium for Vietnam.
Answer:
The total equity risk premium for Vietnam was 11.13 as of January 1st, 2023 according to Damodaran Online. The total equity risk premium starts with a mature market premium and adds a country risk premium based on the risk of the country in question. The country risk premium for Vietnam is estimated to be 5%.
Given that the premium for a mature market (say, the US) is 5.5%, we can estimate the total equity risk premium for Vietnam as follows:
Total Equity Risk Premium = Mature Market Premium + Country Risk Premium Total Equity Risk Premium = 5.5% + 5% Total Equity Risk Premium = 10.5%
Therefore, the estimated total equity risk premium for Vietnam is 10.5%.
I hope this helps!
Explanation:
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The clear, broad, underlying industry category or market sector of an organization's offering defines its
O shareholders.
O objectives
O culture
Ο Ο
business
Explanation:
thats difficult
What are some of the legal restrictions on how organizations can recruit employees?
The legal restrictions on how organizations can recruit employees are no illegal to discriminate against a job candidate , there should be not favoritism when collection applicants.
What are the legal restrictions on recruitment of employees?The legal restrictions on recruitment of employees are those restriction that is been set up so that the employers can not be able to do as they like when recruiting the new employees.
One of this restriction is that there should not be any kind of discriminate against a job candidate which could base on the color as well as gender differences when making the recruit.
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As a producer and seller of athletic shoes, apparel, and equipment, Nike sells
gross domestic products
goods
services
supplies
As a producer and seller of athletic shoes, apparel, and equipment, Nike sells goods.
Goods are tangible products that people buy to satisfy their wants and needs. Goods can be classified into two categories: consumer goods and producer goods.Consumer goods are items purchased by consumers for their own use and enjoyment, while producer goods are used by businesses to produce other goods and services.Therefore, Nike sells goods, which are tangible products such as athletic shoes, apparel, and equipment.Nike is a leading producer and seller of athletic shoes, apparel, and equipment. The company is one of the largest players in the sportswear industry and is recognized globally for its high-quality products and innovative designs. As a producer and seller of these goods, Nike contributes significantly to the gross domestic product of many countries. The gross domestic product is the total value of goods and services produced in a country within a particular period.For more questions on Nike
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Explain how the circular flow of income operates making reference to the injections and withdrawals and physical and monetary flows.
Answer:
It shows flows of goods and services and factors of production between firms and households
The circular flow shows how national income or Gross Domestic Product is calculated
Businesses produce goods and services and in the process of doing so, incomes are generated for factors of production (land, labour, capital and enterprise) – for example wages and salaries going to people in work.
Leakages (withdrawals) from the circular flow
Not all income will flow from households to businesses directly. The circular flow shows that some part of household income will be:
1.Put aside for future spending, i.e. savings (S) in banks accounts and other types of deposit
2.Paid to the government in taxation (T) e.g. income tax and national insurance
3.Spent on foreign-made goods and services, i.e. imports (M) which flow into the economy
Withdrawals are increases in savings, taxes or imports so reducing the circular flow of income and leading to a multiplied contraction of production (output)
Injections into the circular flow are additions to investment, government spending or exports so boosting the circular flow of income leading to a multiplied expansion of output.
Capital spending by firms, i.e. investment expenditure (I) e.g. on new technology
The government, i.e. government expenditure (G) e.g. on the NHS or defence
Overseas consumers buying UK goods and service, i.e. UK export expenditure (X)
An economy is in equilibrium when the rate of injections = the rate of withdrawals from the circular flow.

Building up the model
In this next series of images we build up the circular flow model from just having a domestic sector and then adding in an external sector (exports and imports) before including the financial sector which channels savings and hopefully provides the finance available to fund investment.
The Domestic Circular Flow of Income and Spending
The external sector involves businesses exporting goods and services overseas (X) and consumers and business buying imported products from other countries (M)
Explanation:
PLEASE MARK ME AS BRAINLIEST
When leakage equals injections, the nation's economic cycle is said to be in balance.
What is economic cycle?The term "economic cycle," usually referred to as a "business cycle," describes the swings in the economy's growth and decline.
The present stage of the economic cycle can be determined using variables like gross domestic product (GDP), interest rates, total employment, and consumer expenditure.
Since the economic cycle directly affects stocks, bonds, profits, and corporate earnings, understanding it can help investors and businesses decide whether to invest and when to withdraw their funds.
An economy travels in a circular motion from expansion to recession and back again, which is referred to as an economic cycle. Growth is a sign of an expanding economy.
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Mention and explain the different types of checks, and is the type of the check effect
the indorsement?
Answer:
There are types of checks that are used in endorsements.
Explanation:
The checks are different types that are used in endorsements by bearers
The Bank cheque The order chequeThe bearer chequeThe blank chequeThe counter chequeThe stale chequeThe mutilated chequeThe post-dated chequeThe open chequeThe crossed chequeThe gift chequeThe traveler chequeThe banker chequeThe outstanding chequeThe owner of Kat Motel wants to develop a time standard for the task of cleaning a cat cage. In a preliminary study, she observed one of her workers perform this task six times, with the following results:
Observation
1
2
3
4
5
6
52
Time (seconds)
27
30
54
69.8
98
What is the standard time for this task if the employee performance rating is 5.9% percent, and an allowance of 10.8 percent of job time is used?
seconds
Given: 1 2 3 4 6 Observation Time 5 93 99 87 90 81 90. Observed Time = Average of 6 samples -> ( 99+87 + 90 + 81 + 93 + 90 )/6 = 90. This observed time is at 50% faster rate. Hence Normal Time would be 90*3/2 = 135 seconds.
Standard Time : The standard time for a job can be obtained by multiplying the normal time by an appropriate allowance factor. Hence Standard Time = 135*1.1 = 148.5 ~ 150 seconds.
The synchronisation of clocks inside an area of geography to a single time standard, instead of a local mean time standard, is known as standard time. In general, standard time agrees with local mean time at a few meridian that passes through the area, usually near the centre. Standard time was established in the nineteenth century to help with weather forecasting as well as train travel. Geographical regions became time zones when they were applied globally in the twentieth century.
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when sam returned home from the grocery Store, he realized that he did not have his wallet. His wallet contains his credit card, debit Card, drivers license, and some cash what would you do in this situation? explain answer. ty
Answer: go back and find the wallet and if I can’t find it go to the police so they can track my card
Explanation:
Calculate the present value of the following sequence of willingness to pay: $150 this year; $150 next year; $150 in year 2, and $50 in year 3. Use a 5% discount rate. Recalculate using an 3% discount rate. Show your work. What is the effect of using a lower discount rate on the present value of the stream of willingness to pay
Answer:
$472.10
$482.78
decreasing the discount rate increases the present value of the willingness to pay
Explanation:
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 0 - 2 = $150
Cash flow in year 3 = $50
PV when I is 5% = 472.10
PV when I is 3% = 482.78
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
These are selected 2022 transactions for Kingbird Corporation. Jan. 1 Purchased a copyright for $126,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Mar. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $56,400. Sept. 1 Purchased a small company and recorded goodwill of $150,000. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization required by the events.
Answer:
Dec. 31
Dr Amortization Expense $21,000
Cr Copyright $21,000
Dec. 31
Dr Amortization Expense $11,750
Cr Patent $11,750
Dec. 31
No entry
Explanation:
Preparation of all adjusting entries at December 31 to record amortization required by the events.
Dec. 31
Dr Amortization Expense $21,000
Cr Copyright $21,000
($126,000/6)
(To record amortization of copyright)
Dec. 31
Dr Amortization Expense $11,750
Cr Patent $11,750
(To record amortization of patent)
Dec. 31
No entry
(To record amortization of goodwill)
Calculation for 2020 amortization
First step is to calculate the Annual amortization
Annual amortization = $56,400/4
Annual amortization= $14,100
Now let calculate 2020 amortization
2020 amortization = $14,100 x 10/12
2020 amortization= $11,750
so how do you make customers come and buy ur charm bracelets how do u advertise it.
Answer:
You could make advertisements and post them around your town. Ask your friends to spread the word in your school. Make a website. Read on how to start a small buisness.
Explanation: GOOD LUCK
Which of the following will cause a change in supply and not quantity supplied? (Check all that apply.)
A-Product price
B-Consumer expectations
C-Producer expectations
D-Number of sellers
E-Technology
There are a lot of factors that can affect supply of goods. Technology will cause a change in supply and not quantity supplied
What is Quantity Supplied?This is simply known as the amount that producers carries to market at any stated price.
Change in Quantity Supplied is known to be the change in amount a set for sale in response to a alterations in price.
Factors that cause a change in supply
Cost of Resources ProductivityNumber of Producers/Sellers Expectations Government RegulationsLearn more about Quantity Supplied from
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Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system and
the gross method.
August 1 Purchased merchandise from Aron Company for $8,000 under credit terms of 1/10, n/30, FOB destination, invoice dated
August 1.
August 5 Sold merchandise to Baird Corporation for $5,600 under credit terms of 2/10, n/60, FOB destination, invoice dated August
5. The merchandise had cost $4,000.
August 8 Purchased merchandise from Waters Corporation for $7,000 under credit terms of 1/10, n/45, FOB shipping point, invoice
dated August 8.
August 9 Paid $190 cash for shipping charges related to the August 5 sale to Baird Corporation.
August 10 Baird returned merchandise from the August 5 sale that had cost Lowe's $500 and was sold for $1,000. The merchandise was
restored to inventory.
August 12 After negotiations with Waters Corporation concerning problems with the purchases on August 8, Lowe's received a price
reduction from Waters of $700 off the $7,000 of goods purchased. Lowe's debited accounts payable for $700.
August 14
At Aron's request, Lowe's paid $160 cash for freight charges on the August 1 purchase, reducing the amount owed (accounts
payable) to Aron.
August 15 Received balance due from Baird Corporation for the August 5 sale less the return on August 10.
August 18 Paid the amount due Waters Corporation for the August 8 purchase less the price allowance from August 12.
August 19
Sold merchandise to Tux Company for $4,800 under credit terms of n/10, FOB shipping point, invoice dated August 19. The
merchandise had cost $2,400.
August 22
Tux requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Lowe's gave a
price reduction (allowance) of $800 to Tux and credited Tux's accounts receivable for that amount.
August 29 Received Tux's cash payment for the amount due from the August 19 sale less the price allowance from August 22.
August 30 Paid Aron Company the amount due from the August 1 purchase.
Based on the given merchandising transactions, a journal entry has been prepared below:
Journal EntriesNo Date General Journal Debit Credit
1 Aug 01 Merchandise inventory $6,000
Accounts payable-Aron $6,000
2 Aug 05 Accounts receivable-Baird $4,200
Sales $4,200
3 Aug 05 Cost of goods sold $3,000
Merchandise inventory $3,000
4 Aug 08 Merchandise inventory $5,000
Accounts payable-Waters $5,000
5 Aug 09 Delivery expense $200
Cash $200
6 Aug 10 Sales return and allowances $1,000
Accounts receivable-Baird $1,000
7 Aug 10 Merchandise inventory $500
Cost of goods sold $500
8 Aug 12 Accounts payable-Waters $500
Merchandise inventory $500
9 Aug 14 Accounts payable-Aron $190
Cash $190
10 Aug 15 Cash ($3,200 - $3,136) $3,136
Sales discounts ($3,200 x 2%) $64
Accounts receivable-Baird ($4,200 - $1,000) $3,200
11 Aug 18 Accounts payable-Waters ($5,000 - $500) $4,500
Merchandise inventory ($4,500 x 1%) $45
Cash ($4,500 - $4,455) $4,455
12 Aug 19 Accounts receivable-Tux $3,600
Sales $3,600
13 Aug 19 Cost of goods sold $1,800
Merchandise inventory $1,800
14 Aug 22 Sales return and allowances $600
Accounts receivable-Tux $600
15 Aug 29 Cash ($3,600 - $600) $3,000
Accounts receivable-Tux $3,000
16 Aug 30 Accounts payable-Aron ($6,000 - $190) $5,810
Cash $5,810
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If Chelsea decides to wait two years
before making the down payment,
instead of one, how much money
will she have after two years?
Which 4 sections of the Overview screen can be used to perform a high-level review?
Answer:
Company Setup, Banking Activity, Common Issues, and Transaction Volume.
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How is distribution and selling connected?
Answer:
Manufacturers produce or make products. They typically sell them to wholesalers or distributors that have expertise in getting products to retailers. Retailers then hold inventory and market the goods to consumers that purchase them for personal or family consumption.
Ellis Sport Shop projects the following sales: Extra Credit – 5 Pts Ninety percent of Ellis' sales are on credit with 60 percent of receivables collected in the month after the sale and the rest of receivables collected in the second month after the sale. February sales were $60,000 and March sales were $70,000. In the past Ellis' bad debt percentage has been 0 and is expected to continue. a) Prepare a monthly schedule of cash receipts for April-June.
Here is the monthly schedule of cash receipts for April-June as given in the solution below
The monthly schedule of cash receiptApril:
Credit sales from February: $60,000 x 90% = $54,000
Cash collected from February credit sales: $54,000 x 60% = $32,400
Credit sales from March: $70,000 x 90% = $63,000
Cash collected from March credit sales: $63,000 x 60% = $37,800
Total cash receipts for April: $32,400 + $37,800 = $70,200
May:
Cash collected from remaining February credit sales: $54,000 x (100% - 60%) = $21,600
Cash collected from remaining March credit sales: $63,000 x (100% - 60%) = $25,200
Total cash receipts for May: $21,600 + $25,200 = $46,800
June:
No cash receipts expected.
Note: This schedule assumes no bad debt, which is consistent with Ellis' past experience and expectations.
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