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Related Questions
On January 1, 2021, the general ledger of ACME Fireworks includes the following account balances:
Accounts Debit Credit
Cash $ 26,400
Accounts Receivable 48,800
Allowance for Uncollectible Accounts $ 5,500
Inventory 21,300
Land 59,000
Equipment 21,500
Accumulated Depreciation 2,800
Accounts Payable 29,800
Notes Payable (6%, due April 1, 2019) 63,000
Common Stock 48,000
Retained Earnings 27,900
Totals $ 177,000 $ 177,000
During January 2021, the following transactions occur:
January 2 Sold gift cards totaling $8,200. The cards are redeemable for merchandise within one year of the purchase date.
January 6 Purchase additional inventory on account, $148,000.
January 15 Firework sales for the first half of the month total $136,000. All of these sales are on account. The cost of the units sold is $74,300.
January 23 Receive $125,500 from customers on accounts receivable.
January 25 Pay $91,000 to inventory suppliers on accounts payable.
January 28 Write off accounts receivable as uncollectible, $4,900.
January 30 Firework sales for the second half of the month total $144,000. Sales include $10,000 for cash and $134,000 on account. The cost of the units sold is $80,000.
January 31 Pay cash for monthly salaries, $52,100.
Prepare an adjusted trial balance as of January 31, 2021.
Answers
The Adjusted Trial Balance of ACME Fireworks on January 31, 2021 is as follows and totals $517,300 on both sides.
Adjusted Trial Balance
January 31, 2021
Accounts Debit Credit
Cash $27,000
Accounts Receivable 188,400
Allowance for Uncollectible Accounts $ 600
Inventory 15,000
Land 59,000
Equipment 21,500
Redeemable Gift Cards 8,200
Accumulated Depreciation 2,800
Accounts Payable 86,800
Notes Payable (6%, due April 1, 2019) 63,000
Common Stock 48,000
Retained Earnings 27,900
Sales Revenue 280,000
Cost of Goods Sold 154,300
Salaries Expenses 52,100
Totals $ 517,300 $ 517,300
Data and Calculations:
ACME Fireworks General Ledger Account Balances
January 1, 2021
Accounts Debit Credit
Cash $ 26,400
Accounts Receivable 48,800
Allowance for Uncollectible Accounts $ 5,500
Inventory 21,300
Land 59,000
Equipment 21,500
Accumulated Depreciation 2,800
Accounts Payable 29,800
Notes Payable (6%, due April 1, 2019) 63,000
Common Stock 48,000
Retained Earnings 27,900
Totals $ 177,000 $ 177,000
Analysis of Transactions:
Jan. 2 Cash $8,200 Redeemable Gift Cards $8,200
Jan. 6 Inventory $148,000 Accounts Payable $148,000
Jan. 15 Accounts Receivable $136,000 Sales Revenue $136,000
Cost of Goods Sold $74,300 Inventory $74,300
Jan. 23 Cash $125,500 Accounts Receivable $125,500
Jan. 25 Accounts Payable $91,000 Cash $91,000
Jan. 28 Allowance for Uncollectible Accounts $4,900 Accounts Receivable $4,900
Jan. 30 Cash $10,000 Accounts Receivable $134,000 Sales Revenue $144,000
Cost of Goods Sold $80,000 Inventory $80,000
Jan. 31 Salaries Expense $52,100 Cash $52,100
Adjustments of the Trial Balance with Transactions:
Accounts Debit Credit
Cash $ 26,400 + 8,200 + 125,500 - 91,000 + 10,000 - 52,100
Accounts Receivable 48,800 + 136,000 - 125,500 - 4,900 + 134,000
Allowance for Uncollectible Accounts $ 5,500 - 4,900
Inventory 21,300 + 148,000 - 74,300 - 80,000
Land 59,000
Equipment 21,500
Redeemable Gift Cards 8,200
Accumulated Depreciation 2,800
Accounts Payable 29,800 + 148,000 - 91,000
Notes Payable (6%, due April 1, 2019) 63,000
Common Stock 48,000
Retained Earnings 27,900
Sales Revenue 136,000 + 144,000
Cost of Goods Sold 74,300 + 80,000
Salaries Expenses 52,100
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if a company uses a strategy of coordinating all media and messages focused at the consumer to provide a clear and persuasive message this is called?
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If a company uses a strategy of coordinating all media and messages focused at the consumer to provide a clear and persuasive message this is called Integrated marketing communications.
What is meant by integrated marketing?The IMC is a "branded interaction meant to ensure that all brand contact a customer or prospect receives about a product, service, or organization is relevant to that individual and consistent across time," according to the American Marketing Association. defined as the process of planning. For the purpose of narrating stories and disseminating ideas, we use several media types, or channels. An excellent TV advertisement can serve as the launchpad for an integrated marketing effort.
To provide a seamless, customer-focused experience, integrated marketing combines all aspects of marketing communications, including public relations, social media, and advertising. This implies that your message should appear the same and sound the same across all platforms.
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Question 10 of 20
What impact does a debit card purchase have on your account?
A. The purchase is added to the amount you will have to pay back.
B. The purchase does not directly impact your account.
C. The purchase is immediately withdrawn from your available funds.
D. The purchase is withdrawn from your available funds the following
week.
Answers
Answer:
C. The purchase is immediately withdrawn from your available funds.
Explanation:
A I took the Test
the two ways that a company can issue new securities and thereby raise capital in the primary market are through?
Answers
Private Placement and Investment Banking Process are the two ways that a company can issue new securities and thereby raise capital in the primary market are through.
Market: A mechanism whereby goods and services are exchanged as a result of buyers and sellers coming into contact with one another, either directly or through institutions or agents that act as middlemen. The term "market" refers to the group of customers or organizations who are interested in the product, have the means to buy it, and are authorized by the law and other regulations to do so. An asset or item purchased with the intention of generating income or appreciation is referred to as an investment. The term "appreciation" describes a rise in an asset's value over time. When a person buys a product as an investment, they don't intend to use it right away; instead, they plan to use it to make money later on.
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You want to buy a car, and a local bank will lend you $20,000. The loan would be fully amortized over 6 years (72 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent. $ What is the loan's EFF%? Do not round intermediate calculations. Round your answer to two decimal places.
Answers
Answer:
1. $360.51
2. 9.38%
Explanation:
1. Calculation for What is the monthly loan payment
Based on the information given we would be
Using TVM financial calculator to find the monthly loan payment
PMT = [PV = $20,000, FV = 0, N = 72 months, I = 0.09/12]
PMT = $360.51
Therefore the monthly loan payment will be $360.51
2. Calculation for the loan's EFF%
EFF%= (1 + 0.09/12)^12 - 1
EFF% = 9.38%
Therefore the loan's EFF% will be 9.38%
A company had sales revenue of $900,000 for the year. In addition, the following information is available related to the cost of the units sold: Total purchase cost $ 480,000 Freight charges 10,000 Purchase discounts 25,000 Purchase returns 50,000 Operating expenses 200,000 For what amount would the company report gross profit
Answers
What does Nana need her family to help with to make her restaurant better?
1. Fixing up the restaurant
2.Cooking for the restaurant
3.Paying for the restaurant
4. Serving at the restaurant
Answers
If a person opens a restaurant, it would be best to hire competent staff and also make sure that the aims and objectives of the business are met.
What is a Restaurant?This refers to the outlet where food, drinks, and other edibles are sold and distributed to the general public.
For a person opening a restaurant he would need all the help he can get and family members can also help out.
Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.
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Answer:
Fixing up the restaurant
Explanation:
hope this helps!
Suppose for the year 2015, Speedy Chef, a fast food restaurant, had a Gross Profit of $1,281,648. Speedy Chef had the following expenses:
Cost of Goods Sold $1,251,167
Selling Expense $70,578
Rent Expense $156,941
Utilities Expense $73,994
Insurance Expense $35,148
Wages $505,245
General & Administrative $24,358
Miscellaneous $32,968
Interest Expense $4,059
Income Tax Expense $60,596
What would Speedy Chef's Income Before Taxes be for 2015?
Answers
The Speedy Chef's Income Before Taxes for 2015 is -$873,406.
The following are the operating expenses for Speedy Chef for the year 2015:Cost of Goods Sold $1,251,167Selling Expense $70,578Rent Expense $156,941 Utilities Expense $73,994Insurance Expense $35,148Wages $505,245General & Administrative $24,358Miscellaneous $32,968Interest Expense $4,059Income Tax Expense $60,596.
The formula to determine the Income Before Taxes (IBT) of Speedy Chef for 2015 is given below:Income Before Taxes (IBT) = Gross Profit - Total Operating ExpensesTotal Operating Expenses = Cost of Goods Sold + Selling Expense + Rent Expense + Utilities Expense + Insurance Expense + Wages + General & Administrative + Miscellaneous + Interest Expense + Income Tax Expense.Substitute the given values,Income Before Taxes (IBT) = Gross Profit - Total Operating Expenses = $1,281,648 - $2,155,054 = -$873,406.
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Click this link to view O*NET’s Education section for Municipal Clerks. According to O*NET, what are the top two most common levels of education required for Municipal Clerks?
high school diploma or its equivalent
some college, no degree
associate degree
bachelor’s degree
master’s degree
Answers
Answer:
Explanation:
aa
Answer: A and D
Explanation:
i tried the answers on these comments and they were wrong.
8
What are three advantages of corporations?
Answers
Answer:
Personal liability protection, business security and continuity
what my friend sent me ;-;
(sorry if its blurry)
Answers
A hypothetical firm called BRICK 'n TILE is specialising in producing bricks at a unit price of R3 and selling at a price of RB. The cost of labour increases from R150 to R200 per labourer. Conduct research on any BRICK 'n TILE firm of your choice on the following: STEP 1 Explain the four basic costs curves that BRICK 'n TILE will experience. STEP 2 Recopy the table below to your answer book and determine the missing values: Table for BRICK 'n TILE costs and revenue. Quantity Labour Fixed Variable Total of tiles units Cost Cost 0 0 50 10 1 20 3 30 5 40 50 60 70 80 90 7 9 10 11 12 50 50 50 50 50 50 50 50 50 (3) Total Profit& Marginal Cost Revenue Loss Revenue (3) (10) (3) (3) (3) (5 x 3)(15)
Answers
For the speculative firm Block 'n TILE, the four essential expense bends they will encounter are Marginal Cost (MC) Curve, Average Total Cost (ATC) Curve, Average Variable Cost (AVC) Curve, and Average Fixed Cost (AFC) Curve.
Marginal Cost (MC) Curve:
The Marginal Cost (MC) Curve: addresses the extra expense brought about by creating another unit of result.
Average Total Cost (ATC) Curve:
The Average Total Cost (ATC) Curve shows the typical expense per unit of result.
Average Variable Cost (AVC) Curve:
The Average Variable Cost (AVC) Curve addresses the variable expense per unit of result.
Average Fixed Cost (AFC) Curve:
The Average Fixed Cost (AFC) Curve addresses the proper expense per unit of result.
These expense bends assist firms with enjoying Block 'n TILE figure out the connection between the degree of creation and the related expenses. They are essential for pursuing creation choices, setting costs, and deciding the company's benefit.
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The four cost curves are displayed in the accompanying graph-
using the options below, which shows the lowest amount of surveys that could be collected while still meeting market research industry standards? assume a 95% confidence level.
Answers
pattern size=500; margin of mistakess=4.4%suggests the bottom quantity of surveys that would be accrued whilst nevertheless assembly marketplace studies enterprise standards.
The trequired details about margin of mistakes is mentioned in below paragraph.
The margin of mistakess is a statistic expressing the quantity of random sampling mistakess withinside the effects of a survey. The large the margin of mistakess, the much less self belief one need to have that a ballot end result could replicate the end result of a census of the entire populace. The margin of mistakess could be wonderful on every occasion a populace is incompletely sampled and the final results degree has wonderful variance, that's to say, the degree varies.Margin of mistakess tells you what number of percent factors your effects will range from the actual populace value. It is denoted as a tiny percent allowed for in case of miscalculation.
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Discuss the various system for internal administration for financial organisation.
Answers
The various system for the internal administration of financial organizations includes accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.
Internal administration systems for financial organizations are systems that oversee the internal functioning of the financial organizations and their staff. They enable businesses to establish and follow specific procedures that ensure their operations are stable, transparent, and responsible.
Here are some of the various systems for internal administration for financial organizations:
1. Accounting systems: Accounting systems are essential to ensure the accuracy of financial transactions and the reliability of financial statements. The accounting system should provide information about the current financial status of the organization and account for all income and expenses.
2. Budgeting systems: Financial organizations use budgeting systems to allocate resources and plan expenditures. This system can be used to control the financial performance of a department, project, or organization.
3. Internal controls: Internal controls are the procedures, policies, and activities that help an organization to maintain the integrity of its operations and prevent fraud. The effectiveness of these controls depends on how well they are implemented.
4. Performance management systems: Performance management systems are used to ensure that the goals of an organization are achieved. This system can be used to monitor and evaluate employee performance, provide feedback, and manage employee development.
5. Risk management systems: Risk management systems help financial organizations to identify and manage risks. They can be used to assess the risk associated with various activities and develop strategies to mitigate those risks.
6. Compliance management systems: Compliance management systems help financial organizations ensure that they are following all relevant regulations and laws. They can be used to monitor compliance with internal policies and procedures as well as external regulations.
In conclusion, internal administration systems for financial organizations are essential for ensuring the stability and transparency of financial operations. These systems include accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.
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Which features are drawbacks of digital sales channels? Choose two answers.
Some products will have shipping costs to have the product delivered
Smaller selling range for businesses
Customers must rely on images, reviews, and product descriptions to determine whether or not they will purchase a product
Higher cost of products
Answers
The features that serve as the drawbacks of digital sales channels are:
Customers must rely on images, reviews, and product descriptions to determine whether or not they will purchase a productSome products will have shipping costs to have the product deliveredWhat is digital sales channels?A digital sales channel is where your customers buy your products online.
It should be noted that one of the draw back that cxan be attributed to this system is that the consumer might rely on only thr picures that6 is been seen online in making decisions.
Therefore, the first and the third option are correct.
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Answer:
1 and 3
Explanation:
A firm reports net income of $456,325.00 for 2013. The firm has a dividend payout ratio of 20.00%. The firm currently has $994,000.00 in debt, and $1,628,000.00 in shareholder equity. The firm pays 6.00% annual interest on their outstanding debt. The firm wants to maintain its debt to equity ratio. Based on the interest rate on debt, how much more interest will the firm pay in 2014
Answers
Answer:
$433,550.00
Explanation:
let me know if I'm wrong
FIRST TO ANSWER GETS BRAINLIST
(04.02 MC)
How does the Securities and Exchange Commission (SEC) protect investors?
It requires companies to disclose information on their financial health.
O It guides the economy by controlling the money supply.
O It purchases and sells government securities.
O It regulates how much money can be invested.
Answers
Answer:
The Securities and Exchange Commission is a federal agency that regulates securities markets in the United States. The SEC is responsible for enforcing securities laws, regulating the securities markets and related entities and working to ensure investors are treated fairly.
The Answer is D.
Answer:
O It regulates how much money can be invested.
Explanation:
What is the present value of $3,325 per year, at a discount rate of 8 percent, if the first payment is received 7 years from now and the last payment is received 22 years from today?
Answers
Answer:
Explanation:
To calculate the present value of an annuity, we need to use the present value formula:
PV = C x ((1 - (1 + r)^-n) / r)
Where:
PV = present value
C = annual cash flow
r = discount rate
n = number of years
In this case, C = $3,325, r = 8%, and n = 22 - 7 = 15 (since the first payment is received 7 years from now and the last payment is received 22 years from today).
Using these values, we can calculate the present value of the annuity:
PV = $3,325 x ((1 - (1 + 0.08)^-15) / 0.08)
PV = $3,325 x ((1 - 0.2367) / 0.08)
PV = $3,325 x (0.7633 / 0.08)
PV = $3,325 x 9.5412
PV = $31,737.27
Therefore, the present value of the annuity is $31,737.27.
Which of the following activities helps managers to make smart decisions regarding the
problems and opportunities facing their businesses:
a.Conducting marketing research
b. Advertising and sales promotion
c.Hiring new employees
d.Providing customer service
Answers
B
When an employee leaves a position, how should the human resources department respond?
A. Post a job description to fill the position as quickly as possible.
B. Review the position to determine whether and when the position
should be filled again.
C.Train another employee to fill the position as quickly as possible.
D. Meet with college career advisors to advertise the position.
Answers
When an employee leaves a position, the right response of the human resources department will be to review the position to determine whether and when the position should be filled again.
What is the role of human resources department?In management, a Human resources refers to the division of a business that is charged with finding, screening, recruiting as well as training the job applicants. The HR managers also administers employee-benefit programs.
The department of human resources HR is an essential component of any business regardless of an organization's size. The department is mainly tasked with maximizing employee productivity and protecting the company from any issues that may arise within the workforce.
In conclusion, these HR managers plays an important role in helping companies deal with a fast-changing business environment and a greater demand for quality employees in the 21st century.
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Answer:
B. - Review the position to determine whether and when the position should be filled again.
Explanation:
What is a product that is not an object or something that is owned called?
Answers
Answer:A product that is not an object or something that is owned is called a non-economic good.
Explanation:
A product that is not an object or something that is owned is called a non-economic good.
Which legal system relies upon principles or rules of law that were
developed from court decisions?
Answers
Answer:
Common Law
Explanation;
Common Law relies upon judicial principles of law of former court decisions.
(D)
Life membership fees received by a club is
A. Revenue receipt
(B)
(C) Both (A) and (B)
(D)
Capital receipt
None of these
Answers
Answer:
(D) Capital receipt
Explanation:
The life membership fee is a one-time lump sum amount paid by a new member. It gives a member access to the club facilities for the rest of their lives. Life membership is treated as a capital receipt and added to the capital fund. It appears on the liabilities side in the balance sheet.
Life membership is not treated as income for a particular year because the one-time payments permit a member lifetime access to the club services.
Answer the following under the premise that you just got elected as President of the United States. (Remember the President enacts policy [changes] to correct domestic problems)
1.) Explain what your policy would be to correct the problems with immigration in the U.S. (it is estimated there are 12 million people that have entered the country without legal authority from the U.S. Government and without proper documentation).
2.) Explain what impact the 12 million undocumented immigrants might have on wages in general (based on supply and demand of labor) in the U.S and what policy would you recommend countering any wage losses for American citizens?
3.) Explain your policy for economic growth. Should the government have a tight rein (control) on business, or should it release constraints on businesses so they can grow and demand more labor (workers).
4.) Explain what the effects would be on wages of middle-class workers if your policies from above would generate economic growth where businesses demand for workers increased.
Please post your numbered responses to the above questions (300 word required minimum totals for all questions).
Answers
1. As President, my policy for immigration in the U.S. would focus on comprehensive immigration reform, including a pathway to citizenship for undocumented immigrants.
This would involve strengthening border security, modernizing the immigration system, and creating a process for undocumented immigrants already in the country to come out of the shadows and earn citizenship.
What are the responses to other questions?Additionally, the policy would include a crackdown on employers who exploit undocumented workers and a streamlined process for legal immigration to facilitate lawful entry into the country. Ultimately, this policy would provide a fair and just solution to the issue of undocumented immigration while also promoting economic growth and national security.
2. The presence of 12 million undocumented immigrants in the U.S. could potentially impact wages by increasing the supply of labor in certain industries. This could lead to downward pressure on wages in those industries, particularly for lower-skilled workers. To counter any wage losses for American citizens, my policy would focus on investing in education and training programs to help workers develop the skills needed for higher-paying jobs. Additionally, the policy would include increased enforcement of labor laws to prevent the exploitation of both undocumented and American workers.
3. As President, my policy for economic growth would strike a balance between promoting growth and protecting workers and consumers. While businesses should be given the freedom to grow and innovate, the government also has a responsibility to ensure that they operate in a responsible and ethical manner. This would include measures to prevent monopolies and promote competition, as well as regulations to protect the environment and public health. Additionally, the policy would include investments in infrastructure, education, and research to create a strong foundation for long-term economic growth.
4. If my policies for immigration and economic growth generated an increase in demand for labor, this could have a positive impact on wages for middle-class workers. By investing in education and training programs, workers would be better positioned to take advantage of new job opportunities and negotiate for higher wages. Additionally, increased enforcement of labor laws would ensure that workers are protected from exploitation and able to share in the benefits of economic growth. Ultimately, the goal of these policies would be to create a more equitable and prosperous society for all Americans.
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When comparing cash management options, the higher the
Answers
Answer:
Cost the lower the demand
Duerr Company makes a $79,000, 30-day, 12% cash loan to Ryan Co. The note and interest to be collected at maturity is:
Answers
Answer:
The maturity value is "$79790".
Explanation:
The given values are:
Principal
= $79,000
Time
= 30/360
Rate
= 12%
The interest on the cash loan to Ryan and Co will be:
= \(79000\times 12 \ percent\times \frac{30}{360}\)
= \(790\) ($)
Maturity value
= \(Principal\times (1+rate\times time)\)
= \(79000\times (1+(12 \ percent\times \frac{30}{360} )\)
= \(79000\times 1.0100\)
= \(79790\)
Suppose that a 2% increase in price results in a 6% decrease in quantity demanded. Own-price elasticity of demand is equal to:
Answers
Answer:
-3
Explanation:
PED= change in quantity demanded /change in price
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $156,000. The machine's useful life is estimated to be 20 years, or 110,000 units of product, with a $1,000 salvage value. During its second year, the machine produces 4,400 units of product. Determine the machines' second-year depreciation under the straight-line method.
Multiple Choice
$7,800.
$6,240.
$6,200.
$7,850.
$7,750.
Answers
Answer:
Explanation:
Annual depreciation=(cost-salvage value)/useful life
Annual depreciation =(156,000-1000)/20
Annual depreciation =$7750/year
Hence Depreciation for second year=$7750.
Mrs. Slayman slays all day. She slays 17 times a second. Approximately how much Slaying does Mrs. Slayman do in a day?
Answers
Mrs. Slayman slays approximately 1,468,800 times in a day.
How to calculate much Slaying does Mrs. Slayman do in a dayIf Mrs. Slayman slays 17 times every second, then in one minute (60 seconds), she slays:
17 times/second * 60 seconds = 1020 times/minute
In one hour (60 minutes), she slays:
1020 times/minute * 60 minutes = 61,200 times/hour
And in one day (24 hours), she slays:
61,200 times/hour * 24 hours = 1,468,800 times/day
Therefore, Mrs. Slayman slays approximately 1,468,800 times in a day.
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A country is angry at a neighboring country for creating too much water and
air pollution. It passes a law that forbids its citizens from doing any business
with the other country until that country cleans up the pollution. If the
pollution continues, there will be no trade between the countries.
This is an example of which type of trade barrier?
A. Tariffs
B. Embargoes
C. Subsidies
D. Quotas
Answers
The trade barrier which is displayed is called as Embargoes. Hence, Option B is the correct statement.
What do you mean by Embargoes?An embargo is a central authority order that restricts trade or alternates with a precise country, commonly due to political or financial problems.
An embargo is commonly created due to damaging political or financial occasions among nations. It is designed to isolate a rustic and create problems for its governing body, forcing it to behave on the difficulty that brought about the embargo.
Hence, Option B is the correct statement.
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