Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Cash is $13,700 The starting balance of Inventory is $5,100 The starting balance of Retained Earnings is $24,500 1. Sell, deliver, and receive payment of $20 for service 2. Consume good or service and pay expense of $2 3. Sell product for $25 in cash with historical cost of $20 What is the final amount in Retained Earnings

Answers

Answer 1

Answer:

The final amount in Retained Earnings is:

= $24,523

Explanation:

a) Data and Analysis:

1. Cash $20 Service revenue $20

2. Expenses $2 Cash $2

3. Cash $25 Sales revenue $25

Cost of goods sold $20 Inventory $20

T-accounts:

Cash

Account Titles         Debit     Credit

Starting balance $13,700

Service revenue         20

Expenses                                    $2

Sales revenue            25

Balance                              $13,743

Inventory

Account Titles         Debit     Credit

Starting balance $5,100

Cost of goods sold                  $20

Balance                               $5,080

Service Revenue

Account Titles         Debit     Credit

Cash                                       $20

Sales Revenue

Account Titles         Debit     Credit

Cash                                       $25

Cost of goods sold

Account Titles         Debit     Credit

Inventory                   $20

Retained Earnings

Account Titles         Debit     Credit

Starting balance          $24,500

Service Revenue                   $20

Sales Revenue                        25

Total revenue                       $45

Cost of goods sold                20

Gross profit                         $25

Expenses                                 2

Net income                         $23

Retained earnings:

Starting balance        $24,500

Net income                          23

Ending balance         $24,523


Related Questions

Saving and net flows of capital and goods In a closed economy, saving and investment must be equal, but this is not the case in an open economy. In the following problem, you will explore how saving and investment are connected to the international flow of capital and goods in an economy. Before delving into the relationship between these various components of an economy, you will be asked to recall some relationships between aggregate variables that will be useful in your analysis
Recall the components that make up GDP. National income (Y) equals total expenditure on the economy's output of goods and services. Thus, where C consumption, I investment, G government purchases, X exports, M imports, and NX net exports: Y _________
Also, national saving is the income of the nation that is left after paying for Therefore, national saving (S) is defined as:
S _________
Rearranging the previous equation and solving for Y yields Y Plugging this into the original equation showing the various components of GDP results in the following relationship:
S ________
since net exports must equal net capital outflow (NCO, also known as net foreign investment) This is equivalent to S-
Now suppose that a country is experiencing a trade surplus. Determine the relationships between the entries in the following table, and enter these relationships using the following symbols: > (greater than), < (less than), or (equal to)
Outcomes of a Trade Surplus
Exports Imports
Net Exports 0
C+IG Y
Saving Investment C
0 Net Capital Outflow

Answers

Answer:

HAHAHAHAHAHAH

Explanation:

A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of March, there were 5,000 units in the beginning work in process inventory; 70,000 units were started into production in March; and there were 25,000 units that were 60% complete in the ending work in process inventory at the end of March. What were the equivalent units of production for conversion costs for the month of March

Answers

Answer:

75,000 equivalent units

Explanation:

Calculation to determine What were the equivalent units of production for conversion costs for the month of March

First step is to calculate completed and transferred units

Completed and transferred units =5,000 + 70,000 − 25,000

Completed and transferred units = 50,000

Now let determine the equivalent units for direct materials cost

Using this formula

Equivalent units for direct materials cost =100% of the completed units + 100% of the ending inventory

Let plug in the formula

Equivalent units for direct materials cost= (50,000 × 100%) + (25,000 × 100%)

Equivalent units for direct materials cost=50,000+25,000

Equivalent units for direct materials cost=75,000

Therefore the equivalent units of production for conversion costs for the month of March is 75,000

Quality Motor Company is an auto repair shop that uses standards to control its labor time and labor cost. The standard labor cost for a motor tune-up is given below: Standard Hours Standard Rate Standard Cost Motor tune-up 2.50 $38.00 $95.00 The record showing the time spent in the shop last week on motor tune-ups has been misplaced. However, the shop supervisor recalls that 58 tune-ups were completed during the week, and the controller recalls the following variance data relating to tune-ups: Labor rate variance $ 450 F Labor spending variance $ 500 U Required: 1. Determine the number of actual labor-hours spent on tune-ups during the week. 2. Determine the actual hourly pay rate for tune-ups last week.

Answers

Answer and Explanation:

The computation is shown below:

1

Labor efficiency variance = Labor spending variance+Labor rate variance

= $450 + $500

= $950U

Now as we know that  

Labor efficiency variance = SR × (AH-SH)

950 = $38 × (AH - 58 × 2.50)

950 = $38 × (AH - 145)

25 = AH - 145

AH = 145 + 25

= 170

Actual labor hours = 170 hours

2

Labor rate variance = AH × (SR-AR)

450 = 170 × ($38 - AR)

2.65 =  38 - AR

AR = 38 - 2.65

= $35.35

Mr. and Mrs. Underhill operate a hardware store in a jurisdiction that levies both a sales tax on retail sales of tangible personalty and an annual personal property tax on business tangibles. The personal property tax is based on book value as of December 31. This year, Mr. and Mrs. Underhill purchased $840,000 of inventory for their store.a. Are Mr. and Mrs. CS required to pay sales tax on the purchase of the inventory?b. How can Mr. and Mrs. CS minimize their personal property tax by controlling the timing of their inventory purchases?A. Minimize inventory on hand as of December 31.
B. Minimize inventory on hand as of March 31.
C. Minimize inventory on hand as of December 1.
D. Minimize inventory on hand as of April 30.

Answers

Answer:

a). No.

b). Minimize inventory on hand as of December 31.

Explanation:

As per the details provided, the Underhill couple is not eligible to pay any kind of sales tax while purchasing the inventories for their business. This is because the inventories are not purchased for resale. The sales tax that is levied on the final good(sold to the consumer) includes the tax on inventories indirectly as well. Therefore, charging sales tax on inventories when bought would lead to double tax on a single good. Thus, the answer would be 'No' i.e. option a.

As per the second question, in order to minimize the property taxes the couple requires to 'decrease their purchases associated with inventory on approaching December 31st.' This is due to the rule of 'First In and First Out.' If the inventories on 31st December is restricted, the taxes would be applied on property accordingly but if there's a huge stock, the higher amount of taxes would be levied depending on the property that is being used for the business. Thus, option b is the correct answer.

Why are ethical issues complicated for businesses that operate in the global economy? Because different cultures have different norms and values. Because their employees won't know what the laws are in other countries. Because they tend to have more employees. Because they don't have as much moral character as small, local businesses.

Answers

Answer:

Because different cultures have different norms and values.

Explanation:

Ethical issues are mostly complicated for businesses that operate in the global economy because different cultures have different norms and values.

Consider the following four investments. a)You invest $3,000 annually in a mutual fund that earns 10 percent annually, and you reinvest all distributions. How much will you have in the account at the end of 20 years

Answers

Answer: $171,825

Explanation:

As you invest the same base amount as well as every distribution you receive, this can be said to be an annuity due to the amount being the same and the interest being compounded.

The value at the end of 20 years would be the future value of this annuity and is calculable as follows:

= Annuity * ( ( 1 + rate) ^ number of period - 1) / rate

= 3,000 * ( ( 1 + 10%)²⁰ - 1) / 10%

= $171,824.998

= $171,825

On January 1, 2021, Red Inc. issued stock options for 250,000 shares to a division manager. The options have an estimated fair value of $7 each. To provide additional incentive for managerial achievement, the options are not exercisable unless divisional revenue increases by 6% in three years. Red initially estimates that it is probable the goal will be achieved. Ignoring taxes, what is compensation expense for 2021

Answers

Answer: $583,333

Explanation:

Compensation expense for 2021 = Total compensation / Vesting period

Total compensation:

Assuming the goal given is probable, the total compensation is:

= Number of shares * fair value

= 250,000 * 7

= $1,750,000

Vesting period = number of years goal is to be in effect = 3 years

Compensation expense 2021 = 1,750,000 / 3

= $583,333

xyz's corporation has an investment in 20,000 shares of wallace company common stock with a cost of $872,000. these shares are used in a property dividend to stockholders of xyz's. the property dividend is declared on may 25 and scheduled to be distributed on july 31 to stockholders of record on june 15. the fair value per share of wallace stock is $63 on may 25, $66 on june 15, and $68 on july 31. the net effect of this property dividend on retained earnings is a reduction of

Answers

Answer:

XYZ's Corporation

The net effect of this property dividend on retained earnings is a reduction of:

= $388,000.

Explanation:

a) Data and Calculations:

Cost of investment in Wallace Company = $872,000

Property dividend declaration date = May 25

Property dividend distribution date = July 31

Property dividend date of record = June 15

Fair value per share of Wallace shares:

May 25 = $63

June 15 = $66

July 31 = $68

Amount of property dividend declared = $1,260,000 ($63 * 20,000)

Analysis of entries:

May 25:

Property dividend $872,000 Loss on Distribution $388,000 Property Dividend Payable $1,260,000

July 31:

Property Dividend Payable $1,260,000 Cash $1,260,000

Financial information is presented below: Operating Expenses $ 89300 Sales Returns and Allowances 17000 Sales Discounts 11700 Sales Revenue 320900 Cost of Goods Sold 173900 The amount of net sales on the income statement would be

Answers

Answer:

Net sales = 292200

Explanation:

Below is the given values:

Operating expenses = $89300

Sales return = 17000

Sales discounts = 11700

Sales revenue = 320900

Cost of goods sold = 173900

Net sales = Sales revenue - Sales discount - Sales return

Net sales = 320900 - 11700 - 17000

Net sales = 292200

Dockwiller Inc. manufactures industrial components. One of its products, which is used in the construction of industrial air conditioners, is known as D53. Data concerning this product are given below:

Per Unit
Selling price $1.50
Direct materials $26
Direct labor $3
Variable manufacturing overhead $1
Fixed manufacturing overhead $17
Variable selling expense $2
Fixed selling and administrative expense $18


The above per unit data are based on annual production of 3,000 units of the component. Assume that direct labor is a variable cost. The company has received a special, one-time-only order for 200 units of component S06. There would be no variable selling expense on this special order and the total fixed manufacturing overhead and fixed selling and administrative expenses of the company would not be affected by the order. If XYZ has excess capacity and can fill the order without cutting back on the production of any product, what is the minimum price per unit below which the company should not accept the special order?

a. $67 per unit
b. $150 per unit
c. $30 per unit
d. $47 per unit

Answers

Answer:

c. $30 per unit

Explanation:

The computation of the minimum price per unit below which the company should not accept the special order is given below:

Direct materials $26

Direct labor $3

Variable manufacturing overhead $1

minimum price per unit  $30

Therefore the option c is correct

The following is TRUE about Inventory: A. Firms increase inventory because there is an opportunity cost to holding inventory B. Firms increase inventory because more inventory sitting for longer periods of time present more opportunities for damage, errors, rework, theft, and obsolescence C. Firms increase inventory because more inventory means more movement of materials D. Firms increase inventory because there is a risk of significant and unpredictable fluctuations in downstream demand E. Firms increase inventory because the more we spend on inventory, the more we need to spend on other inventory-related expenditures

Answers

Answer:

I don't know how it is possible

The real interest rate is 3​ percent, the inflation rate is 2​ percent, and the tax rate on nominal interest is 25 percent. What is the true income tax rate on interest​ income? Why does inflation increase the true tax rate on interest​ income?

Answers

Answer:

True income tax on interest income:

= Tax on interest income / Real interest rate

Tax on interest income = Tax rate * Nominal interest

= 25% * (3% real rate + 2% inflation)

= 25% * 5%

= 1.25%

True income tax:

= 1.25% / 3%

= 41.67%

Why does inflation increase the true tax rate on interest​ income?

It is because tax is computed on the nominal interest rate as shown above. Nominal rates are affected by inflation such that when inflation rises, nominal rates rise as well which would lead to taxes being higher because they are now based on a higher figure.

Consider the following information about production in quarter 1 of 2019. Firm T produces 600 tires at a cost of $28 each, and sells 580 tires to Firm B at a cost of $39 each.Firm B produces 290 bicycles at a total cost of $330 each, and sells 280 bicycles to consumers for $400 each. In this simple economy, what is the value of inventory investment

Answers

Answer:

$3,860

Explanation:

Value of stock at the end of Firm T:

Firm T has stock of 20 tires at the end of the year

The cost price is $28 per tire

Value = Closing stock * Cost price of each tIres

Value = 20 * $28

Value = $560

Value of stock at the end of Firm B:

Firm B has stock of 10 bicycles at the end of the year

The cost price is $330 each

Value = Closing stock * Cost price of each bicycle

Value = 10 * $330

Value = $3,300

Value of the inventory investment = Value of stock at the end of Firm T + Value of stock at the end of Firm B

Value of the inventory investment = $560 + $3,300

Value of the inventory investment = $3,860

A customer sells short 1,000 shares of DT at $60 a share on Monday, October 14 and deposits the Regulation T margin requirement. If on October 23 the stock is trading at $75 a share. What would be TRUE about the customer selling?

Answers

Solution :

Adjusted Oct 23rd

Maintenance call will be issued, i.e. ,

$  75k x 0.3 = 22.5 k

Equity only = 15k

Therefore, the account will be adjusted on October 23rd and the margin maintenance call will be issued.

1. A beverage company is having trouble with the production of the dye in their drinks. The color of their drink mix is supposed to be a pale green color, but they often get different results. For each unwanted result, choose the most plausible explanation to help the company improve the formula. (1pts) The color of the drink is too pale after adding the dye to the drink because

Answers

Answer: • not enough dye was added to the drink.

Explanation:

The color of the drink is too pale after adding the dye to the drink because (not enough dye was added to the drink)

It should be noted that the reason why the color of the drink is too pale is due to the fact that not enough due was added to the drink.

It should be noted that as more dye is added to the drink, the color intensifies and the reason for the paleness of the colour is because less dye was added.

Which of the following is an essential element of a valid real estate contract?
Duress
Legal purpose
Misrepresentation
Mutual mistake

Answers

Answer:

Legal purpose

Explanation:

The contract is approved when there is an agreement and agreement should be enforced i.e.

Agreement + enforceability = contract

Now the element of the contract that become the contract to be valid is the legal purpose that means the contract that should be made should be legal in the court point of view i.e. feasible

Therefore the second option is correct

Job order versus Process Costing Which of the following industries would typically use job order costing, and which would typically use process costing? Steel manufacturing Business consulting Web designer Computer chip manufacturing Candy making Designer clothes manufacturing

Answers

Answer:

Job order versus Process Costing

Industries using job order costing:

Business consulting

Web designer

Designer clothes manufacturing

Industries using process costing:

Steel manufacturing

Computer chip manufacturing

Candy making

Explanation:

In job order costing, the manufacturer tracks its prime costs to individual products or jobs.  This means that the costs of each job can be computed separately because costs are traced to each job.  Under process costing, the prime costs are tracked to the department or process or batch, and not to individual products or jobs.

The basic premise of unrelated diversification is that:

a. the least risky way to diversify is to seek out businesses that are leaders in their respective industry.
b. the best companies to acquire are those that offer the greatest economies of scope rather than the greatest economies of scale.
c. the best way to build shareholder value is to acquire businesses with strong cross-business financial fit.
d. any company that can be acquired on good financial terms and that has satisfactory growth and earnings potential represents a good acquisition and a good business opportunity.
e. the task of building shareholder value is better served by seeking to stabilize earnings across the entire business cycle than by seeking to capture cross-business strategic fits.

Answers

Answer: d. any company that can be acquired on good financial terms and that has satisfactory growth and earnings potential represents a good acquisition and a good business opportunity.

Explanation:

Unrelated diversification refers to the addition of a subsidiary to a company so as to penetrate new markets and make more income.

When a company is deciding on a company to acquire, it will choose one that can be acquired relatively cheaply or at least at a fair value give its assets as well as one that has good growth prospects and potential to earn returns that will increase the returns of the purchasing company.

Unrelated diversification values favorable acquisitions and growth potential over industry leadership or strategic fits for shareholder value. Therefore, option d is correct.

Unrelated diversification refers to a corporate strategy where a company enters into businesses that are unrelated or have little overlap with its current operations or industry.

It involves expanding into new and distinct markets or industries that are not directly related to the company's existing products or services.

The aim of unrelated diversification is to spread business risk, tap into new sources of revenue, and achieve growth by entering unrelated markets.

This strategy often involves acquiring or starting businesses that may offer different growth opportunities or have synergistic potential, despite lacking strategic or operational connections to the existing core business.

Therefore, option d is correct.

Learn more about Unrelated diversification here:

https://brainly.com/question/33441718

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Coomb's Fashions forecasts sales of $125,000 for the quarter ended December 31. Its gross profit rate is 20% of sales, and its September 30 inventory is $32,500. If the December 31 inventory is targeted at $41,500, budgeted purchases for this quarter should be:

Answers

Answer:

Total purchase= $109,000

Explanation:

To calculate the budgeted purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Budgeted purchase:

Production= 125,000*0.8= 100,000

Desired ending inventory= 41,500

Beginning inventory= (32,500)

Total purchase= $109,000

Management of Carla Vista Home Furnishings is considering acquiring a new machine that can create customized window treatments. The equipment will cost $199,550 and will generate cash flows of $104,750 over each of the next six years. If the cost of capital is 13 percent, what is the MIRR on this project

Answers

Answer:

MIRR = 27.85%

Explanation:

Below is the calculations:

The cost of equipment, Present value = $199550

Generate cash flow each year = $104750

Time = 6 years

Now find the future value of annual cash flow = 104750 (F/A , 13%, 6)

The future value of annual cash flow =104750 x 8.3227

The future value of annual cash flow = $871802.825

Now find the MIRR = (871802.825 / 199550)^(1/6)-1

MIRR = (4.3688)^(1/6)-1

MIRR = 27.85%

A 13-year, 6 percent coupon bond pays interest semiannually. The bond has a face value of $1,000. What is the percentage change in the price of this bond if the market yield to maturity rises to 6.7 percent from the current rate of 5.5 percent

Answers

Answer: -10.14%

Explanation:

Original Price of bond:

Interest is paid semiannually so some variables need to be adjusted:

Period = 13 * 2= 26 semi annual periods

Coupon = 6% * 1,000 * 0.5 = $30 per period

Yield = 5.5% / 2 = 2.75%

Price = $1,046

Price after yield increases to 6.7%

Period = 13 * 2= 26 semi annual periods

Coupon = 6% * 1,000 * 0.5 = $30 per period

Yield = 6.7% / 2 = 3.35%

Price = $939.88

Percentage change = (939.88 - 1,046) / 1,046

= -10.14%

MC Qu. 117 Geneva Co. reports the following... Geneva Co. reports the following information for July: Sales$792,000 Variable costs 239,000 Fixed costs 114,000 Calculate the contribution margin for July.

Answers

Answer:

$553,000

Explanation:

The contributon margin is the amount a level of sales contributes to recovering fixed costs of the organization, using the formula for contribution margin formula provided below:

contribution margin=sales-variable costs

sales revenue=$792,000

variable costs=$239,000

contribution margin=$792,000-$239,000

contribution margin=$553,000

Why might some firms voluntarily pay workers a wage above the market equilibrium, even in the presence of surplus labor

Answers

Answer:

a. Paying higher wages can reduce a firm's training costs. b. Higher wages attract a more competent pool of workers. d. Paying higher wages helps workers to be healthier in some developing countries.

Explanation:

Paying higher than average wages will help a company retain staff who would appreciate being paid so much. There will therefore be less workers leaving the company which means that there would be no need to train new staff.

Higher wages also attracts more competent workers because competitive wages attract better talent who would want to work for a company that adequately compensates them for their higher skillset.

Developing countries tend to have low minimum or rather low equilibrium wage rates in order to get companies to employ more people. This usually does not reflect the economic situation in he country so paying above this rate will ensure that the employees are better taken care of which would leave them healthier.

Date of NoteFace AmountInterest RateTerm of Notea.January 5 *$90,000 60 days b.February 15 *21,000 4 30 days c.May 1968,000

Answers

Answer and Explanation:

The computation is shown below:

Note       Due date      Interest        Explanation

a)                May-04 $ 1,800     ($ 90,000 × 6% × 120 ÷ 360)

b)                Mar-16           $70 ($21,000 × 4% × 30 ÷ 360)

c)                Jul-03           $680 ($68,000 × 8% × 45 ÷ 360)

In this way the interest expense should be calculated

The same should be relevant and considered too

Bear Claw Industries uses a job-order costing system. The Molding Department applies overhead based on machine hours, while the Assembly Department applies overhead based on direct labor hours. The company made the following estimates at the beginning of the current year:
Molding Assembly
Manufacturing overhead cost $700,000 $400,000
Machine hours 10,000 4,000
Direct labor hours 12,000 16,000
The following information was available for Job No. 7-29, which was started and completed during August:______.
Job No. 7-29
Molding Assembly
Direct materials $3,500 $ 7,500
Direct labor $9,000 $12,500
Direct labor hours 900 1,250
Machine hours 500 400
The predetermined overhead rate for the molding department is:_____.
a. $50.
b. $70.
c. $100.
d. $83.

Answers

Answer:

Molding= $70 per machine hour

Explanation:

Giving the following information:

Molding

Manufacturing overhead cost $700,000

Machine hours 10,000

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Molding= 700,000 / 10,000

Molding= $70 per machine hour

Ruston Company Income Statement January 1 to December 31, 2017 (amounts in thousands) 7,800 1,560 6,240 780 700 500 4,260 70 4,190 1,676 2,514 Revenue Cost of Goods Sold (COGS) nl Gross Income Sales, General, & Administrative Expenses (SG&A) Depreciation Expense Other Expenses Earnings Before Interest & Taxes (EBIT) Interest Pre-Tax Income Income Taxes Net Income Between January 1 and December 31, 2017:
1. Accounts Receivable increase by $600,000
2. Accounts Payable increase by $300,000
3. Gross Property, Plant, & Equipment increase by $8,300,000
4. Long Term Debt increases by $700,000 Assume no other changes What is the Net Cash Flow?

Answers

Answer:

The Net Cash Flow is -$4,686,000.

Explanation:

Note: The data in this question are merged. The complete question with the sorted data are therefore provided before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answers is now provided as follows:

Net Cash Flow can be determined by preparing the cash flow statement as follows:

Ruston company

Cash Flow Statement

For the Year Ended December 31, 2017

Details                                                                  $’000               $’000  

Cash Flows from Operating Activity

Net Income                                                           2,514

Adjustment to net income

Depreciation expense                                           700

Increase in accounts receivable                         (600)

Increase in accounts payable                               300

Net Cash Flows from Operating Activity                                    2,914

Cash Flows from Investing Activity  

Increase in Gross Property, Plant, & Eq.          (8,300)

Net Cash Flows from Investing Activity                                    (8,300)

Cash Flows from Financing Activity  

Increase in Long Term Debt                                  700

Net Cash Flows from Financing Activity                                       700  

Net Cash Flow                                                                            (4,686)  

Therefore, the Net Cash Flow is -$4,686,000.

Rodriguez Company pays $363,285 for real estate with land, land improvements, and a building. Land is appraised at $198,000; land improvements are appraised at $66,000; and a building is appraised at $176,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.

Answers

Answer:

1.Land $163,478

Land Improvement $54,493

Building $145,314

2.Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

Explanation:

1. Calculation to Allocate the total cost among the three assets

First step is to Add up all expenditure costs Total Expenditure costs =$198,000+$66,000+$176,000

Total Expenditure costs =$440,000

Second step is to divide each expenditure up by the total amount

Land=($198,000/$440,000= 0.45)

Land improvement=($66,000/$440,000= 0.15)

Building=($176,000/$440,000= 0.40)

Now let Allocate the total cost among the three assets

Land=0.45* $363,285

Land = $163,478

Land improvement=0.15*$363,285

Land Improvement=$54,493

Building=0.40*$363,285

Building=$145,314

Total $363,285

($163,478+$54,493+$145,314)

Therefore the total allocation cost among the three assets is:

Land $163,478

Land Improvement $54,493

Building $145,314

2. Preparation of the journal entry to record the purchase

Dr Land $163,478

Dr r Land Improvement $54,493

Dr Building $145,314

Cr Cash $363,285

(To record purchase)

. A Real estate broker has a fiduciary responsibility to her client and her responsibilities include financial references, orders and examine reports, and must follow ADA title lll. This broker is most likely working for the client as:
A) An affiliate
B) An escrow officer
C) A property manager
D) A designated broker

Answers

Answer:

D) A designated broker

Explanation:

In the case when the responsibilities involved the financial references, orders and viewing the reports also at the same time we need to follow ADA title III so this means that the broker should be working for the client as the designated broker

So according to the given scenario, the option d is right

And, the same is to be considered

What can organizations do to keep rewards individualized enough to meet various employee needs (needs theory) while trying to ensure that everyone feels that all the different rewards are fair (equity theory)

Answers

Answer:

The best way to go about this is to design and operate and rewards system that recognizes individual needs as summarized and proposed by David McClelland.

The theory of equity on the other hand speaks to the perception of how input is compensated for in relation to those of others. Human beings (workers) will come with varying degrees of skills and input.

So to customize rewards in such a way that it recognizes unique contributions in an equitable way, one must first decide what key skills will be required for each job and which jobs are required to achieve organizational goals and objectives.

Explanation:

The Needs Theory by David Mclelland summarizes individual needs into three. They are:

Achievement AffiliationPower

A balanced reward system will have financial and non-financial benefits. some of the non-financial benefits will be tailored to have the above components.

- Achievement: An example of this is - Opportunity for higher assignments

- Affiliation: The need to belong to a strong Employer brand

- Power: This answers the question about whether or not one will become more influential as they progress with the company

The equity theory will guide the business owner in ensuring that all selected metrics of input are classed and priced accordingly.

The usual form of input include but are not limited to:

Ability Adaptability Commitment Determination Education Effort Enthusiasm Experience Flexibility Hard Work Loyalty Personal sacrifice Skill Support from co-workers and colleagues Time Tolerance Trust in supervisors

Equity sometimes is difficult to achieve due to issues with capacity on the part of the company. Best practice, however, is to recognize equity first from the perspective of standard industry practice, then match or exceed such offering by a combination of Financial and Non-Financial rewards that are based on the strength of the organization.

Another strategy is for organizations to adapt it's reward systems to  Achievement Based Compensation. This type of compensation instead of focusing on the inputs listed above focuses on results.

In this case, expected results and capacity to deliver and subsequent rewards on same are discussed and agreed upon.

Minimum requirements are also defined ahead of time. Under this kind of structure, equity is achieved, and individual needs are recognized.

Cheers

It is essential that organizations meet the needs of employees on an individual basis and ensure that everyone feels that the different rewards are fair. This can be achieved by implementing a culture focused on integration, collaboration and open and clear communication.

What is Equity theory?

It is a theory that explains how motivation in the workplace is related to the perception of employees through their sense of justice, that is, employees compare their work inputs and outputs in relation to others.

Therefore, by creating open communication and an effective reward system, employees can have their needs met and create a strong sense of appreciation for their work.

Find out more about Equity theory here:

https://brainly.com/question/26507171

The following partially completed T-accounts summarize transactions for Faaberg Corporation during the year: Raw Materials Work in Process Credit Credit Debit Beginning Balance Debit Beginning Balance 9,000 22,200 5,000 5,200 4,100 6,200 8,500 8,300 Finished Goods Manufacturing Overhead Credit Debit Credit Debit Beginning Balance 20,400 8,300 2,200 22,200 2,800 3,500 3,200 Cost of Goods Sold Debit Wages & Salaries Payable Credit 20,400 Beginning Balance Debit Credit 20,400 2,500 12,000
The direct labor cost was:
a. $20,400
b. $13.100

Answers

Answer:

$8,500

Explanation:

The computation of the direct labor cost is given below

The raw material issued should be  

= 6,200 + 2,800

= 9,000

The manufacturing overhead applied is 8,300

So, here the amount should be from both work in process and manufacturing overhead  

Therefore the remaining amount i.e. $8,500 should be the direct labor cost  

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