* Distinguish between Accounts Receivable and
Account Payable.

Answers

Answer 1

Explanation:

Accounts receivable is money owed to a company by its debtors.

Account payable amounts due to vendors or suppliers for goods or services received that have not been yet paid for.

Answer 2

Answer:

Accounts receivable are the amounts owed to a company by its customers. it is an asset to the company

accounts payable are the amounts that a company owes to its suppliers.it is a  liability to the company

Explanation:


Related Questions

The part can be purchased from an outside supplier at $20 per unit. If the part is purchased from the outside supplier, two thirds of the total fixed costs incurred in producing the part can be eliminated. The annual increase or decrease on the company's operating incomes as a result of buying the part from the outside supplier would be:

Answers

Answer:

$2,000 Decrease

Explanation:

Calculation to determine what The annual increase or decrease on the company's operating incomes as a result of buying the part from the outside supplier would be:

First step is to calculate C saving from not producing parts

C saving from not producing parts = $12 + (2/3 x $9)

C saving from not producing parts = $18

Now let determine The annual increase or decrease on the company's operating incomes

purchase price = $20

Annual increase or decrease =($20-$18) x 1,000

Annual increase or decrease =$2 more per unit x 1,000

Annual increase or decrease = $2,000 decrease

Therefore The annual increase or decrease on the company's operating incomes as a result of buying the part from the outside supplier would be:$2,000 Decrease

JG Asset Services is recommending that you invest $1,500 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures

Answers

Answer: $1781.54

Explanation:

Since the person invest $1,500 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually, then the amount that the person will have when the CD matures will be:

= PV(1 + r)^n

= 1500 × (1+3.5%)^5

= 1500 × (1.035)^5

= 1500 × 1.18769

= 1781.54

Therefore, the person will have $1781.54 when the CD matures.

Justin, an employee of Widget Corp., is hesitant to leave the company because he thinks that he will lose a great deal of his investments in time, effort, and benefits. In the context of organizational commitments, it is evident that Justin experiences _____. Group of answer choices normative commitment conjoint commitment affective commitment continuance commitment

Answers

Answer:

Continuance commitment

Explanation:

Organizational Commitment

This is commonly defined as employee desire or will to remain a member of the organization. It is said to influences whether an employee stays a member of the organization (is retained) or leaves to pursue another job (turns over).

Continuance Commitment

This is a type of commitment that is said to occur only when there is a profit associated with staying and a cost associated with leaving. This usually create a more passive form of loyalty. continuance commitment increases in terms of the total amount of investment (in terms of time, effort, energy, etc.) an employee has made in mastering his work role or fulfilling his organizational duties or lack of employment alternatives etc.

In general, increasing price above the market equilibrium price will _______ consumer surplus and ________ producer surplus. Total surplus will _______. Reducing price below market equilibrium will ________ consumer surplus and _______ producer surplus. Total surplus will _______. Thus regulators _______ increase benefits to one group or the other, but the market ______ be efficient.
The tax incidence is the:_____
a. average tax burden borne by buyers and sellers.
b. actual tax burden borne by buyers and sellers.
c. absolute tax burden borne by buyers and sellers.
d. relative tax burden borne by buyers and sellers.

Answers

I say it have to be letter a
C I’m not sure if thts it but yea

A sporting goods manufacturer budgets production of 45,000 pairs of ski boots in the first quarter and 30,000 pairs in the second quarter of the upcoming year. Each pair of boots require 2 kg of a key raw material. The company aims to end each quarter with ending raw materials inventory equal to 20% of the following quarter's material needs. Beginning inventory for this material is 18,000 kg and the cost per kg is $8. What is the budgeted materials need in kg. in the first quarter?
A) 90,000 kg.
B) 84,000 kg.
C) 108,000 kg.
D) 102,000 kg.
E) 120,000 kg.

Answers

Answer:

B) 84,000 kg.

Explanation:

The computation of the budgeted materials need in kg. in the first quarter is given below:

begnning inventory 18000

required for production (45000 × 2) 90000

Less: closing (30000 × 2 × 20%) - 12000

Raw material needs 84000

hence, the budgeted materials need in kg. in the first quarter is 84,000

Therefore the option b is correct

What's the meaning of the symbol S3?

A. One three-way switch
B. A single switch mounted at 3'0"
C. Three single-pole switches
D. a triple-pole switch

Answers

The answer is A

One three-way switch

If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.May 1: Prepaid rent for three months, $2,100May 5: Received and paid electricity bill, $70May 9: Received cash for meals served to customers, $1,530May 14: Paid cash for kitchen equipment, $3,780May 23: Served a banquet on account, $1,780May 31: Made the adjusting entry for rent (from May 1).May 31: Accrued salary expense, $3,260May 31: Recorded depreciation for May on kitchen equipment, $670

Answers

Answer:

Net loss -$1,390

Explanation:

The computation of the net income is given below:

Service revenue    

On cash $1,530

ON credit $1,780

Service revenue $3,310

Less: Expense    

Utilities expense  -$70

Rent expense  -$700

Salaries expenses  -$3,260  

Depreciation expense -$670

Total expenses -$4,700

Net loss -$1,390

g If the economy experiences economic contraction, the government can combat this with an Group of answer choices increase in government purchases increase in marginal tax rates increase in autonomous taxes increase in real interest rates

Answers

Answer:

increase in government purchases

Explanation:

If there is a contraction in the economy, the government should conduct expansionary policies to increase money supply.

Discretionary fiscal policies are deliberate steps taken by the government to stimulate the economy in order to cause the economy to move to full employment and price stability more quickly than it might otherwise.

Discretionary fiscal policies can either be expansionary or contractionary

Expansionary fiscal policy is when the government increases the money supply in the economy either by increasing spending or cutting taxes.

Contractionary fiscal policies is when the government reduces the money supply in the economy either by reducing spending or increasing taxes

Kluber, Inc. had net income of $917,000 based on variable costing. Beginning and ending inventories were 56,700 units and 55,400 units, respectively. Assume the fixed overhead per unit was $2.10 for both the beginning and ending inventory. What is net income under absorption costing

Answers

Answer:

The answer is "[tex]\$235,410[/tex]".

Explanation:

Variable cost net income [tex]=\$917,000[/tex]

Less: Fixed overhead start  [tex]56,700\times \$2.10=\$119,070[/tex]

Add: Fixed overhead termination  [tex]55,400\times $2.10=\$11,6340[/tex]

Net revenue at cost of absorption [tex]=\$235,410[/tex]

An analyst forecasts dividends over the next three years for ABC Company of $1.25, $2.00, and $2.50 respectively. He also expects that the dividend will grow at a constant rate of 3% forever after the third year. If the required rate of return is 12%, ABC stock price is closest to:

Answers

Answer:

$24.85

Explanation:

The stock price of the abc is given below:

Value of Stock after Year 3 = (Forecasted Dividend for Year 3 × Growth Rate) ÷ (Required Rate of Return - Growth Rate of Dividend)

 = (2.5 × 1.03) ÷ (0.12-0.03)

= 28.61

Now  

Current Stock Price = PV of all Future Dividends and Present Value of Stock after Year 3

 =(1.25 ÷ 1.12) + (2 ÷ 1.12^2) + (2.5 ÷ 1.12^3) + (28.61 ÷ 1.12^3)

 = 1.1161 + 1.5944 + 1.7795 + 20.3640

= $24.85

On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requisitioned for production as follows: 224 units for Job 200 at $13 per unit and 294 units for Job 305 at $15 per unit.

Required:
Journalize the entry on May 7

Answers

Answer:

Date               Account Title                                              Debit               Credit

May 7             Materials                                                 $9,600

                      Accounts Payable                                                            $9,600

Working:

= Units purchased * cost per unit

= 640 * 15

= $9,600

As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.

Inductive reasoning starts with a general truth and uses facts to draw specific conclusions.
True or false

Answers

The answer is false your welcome

Q2. Custom Cuts Landscaping year-end balance sheet lists current assets ast $458,600, fixed assets at $658,200, current liabilities of $425,950, and long term debt of $395,450. Calculate Custom Cut's shareholder equity.

Answers

Answer:

the shareholder equity is $295,400

Explanation:

The computation of the shareholder equity is given below:

We know that

Assets = liabilities + stockholder equity

$458,600 + $658,200 = $425,950 + $395,450 + shareholder equity

So, the shareholder equity is

= $1,116,800 - $425,950 - $395,450

= $295,400

Hence, the shareholder equity is $295,400

Dallas Products is a division of a major corporation. The following data are for the most recent year of operations: Sales $ 37,080,000 Net operating income $ 3,108,960 Average operating assets $ 8,600,000 The company's minimum required rate of return 16 % The division's residual income is closest to:______

Answers

Answer:

1,732,960

Explanation:

The sales is $37,080,000

The net operating income is $3,108,960

The average operationg assets is $8,600,000

The required rate of return is 16%

The divisional residual income can be calculated as follows

= 3,108,960-(16/100×8,600,000)

= 3,108,960 - (0.16×8,600,000)

= 3,108,960-1,376,000

= 1,732,960

Hence the residual income is closest to $1,732,960

Franchises are attractive to business owners because

they have a proven business model.
they are typically inexpensive to buy.
they get to keep all profits.
they come with very little risk.

Answers

A. they have a proven business model.

Franchises are attractive to business owners because they have a proven business model. The correct option is A.

Why are franchises attractive?

Franchises give larger companies the ability to expand and spread out while also allowing entrepreneurs and small business owners the chance to manage their own operations with the assistance and support of a larger organization with a track record of success. Franchising is a seductive strategy for achieving commercial success.

In a franchise, the business owner (the franchisor) sells the right to use its brand, goods, and operational procedures to the franchisee (the person who wants to open a new location) in exchange for a fee.

The fact that the franchisor has previously created and put the business model through testing is one of the key advantages of owning a franchise. As opposed to starting a new company from scratch, the franchisee can take advantage of the franchisor's knowledge and expertise, which lowers the risk of failure.

Thus, the ideal selection is option A.

Learn more about franchises here:

https://brainly.com/question/29376853

#SPJ5

My husband and I have been married for four years. When we graduated from college we were able to find entry level positions in California, but things were difficult because it is very expensive to live in California. After two years of marriage we decided to move to Omaha, Nebraska, believing that we could earn California wages without paying California housing prices. We bought a 900 square-foot condo for $317,000. We love the place and it's in a great neighborhood, but we have to be honest with ourselves that we may have made a mistake. Buying the condo took our savings, and that meant we had to take out a student loan for my husband's graduate school. He works in education, and with a $42,000 salary, it infuriates us that his graduate schooling nearly costs us what he makes in a year. Although we carry no credit card debt and continue to drive our very old cars, it worries me that when it comes time to pay back student loans, we are going to still be very tight and only be paying near the minimum credit card payment. My husband's career goal is to work in school administration, which pays more that what a classroom teacher makes. But it could take several years for that to happen, and we will need to sit tight until then. I am grateful that we have, for the most part, lived within our means and have made an effort to save a small amount of money. But if either of us loses our job, we could be in the same boat a lot of people are in. I hope this economy turns around so I can stop losing sleep about it! Based on the above scenario, describe one problem the couple above is facing and one possible solution to the problem

Answers

Answer:

I think there is no answer as pre my opinion and watch for other answer

Exercise 6-10 Petty cash fund accounting LO P2 Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for the following expenditures: postage, $74; transportation-in, $29; delivery expenses, $16; and miscellaneous expenses, $43. Palmona uses the perpetual system in accounting for merchandise inventory. Prepare journal entries to (1) establish the fund on January 1, (2) reimburse it on January 8, and (3) both reimburse the fund and increase it to $450 on January 8, assuming no entry in part 2. Hint: Make two separate entries for part 3.

Answers

Answer:

1 Jan 01

Dr Petty cash 200

Cr Cash 200

2 Jan 1

Dr Postage expense 74

Cr Merchandise inventory 29

Dr Delivery expense 16

Cr Miscellaneous expenses 43

Cr Cash 162

3 Jan 08

Dr Postage expense 74

Dr Merchandise inventory 29

Dr Delivery expense 16

Dr Miscellaneous expenses 43

C Cash 162

Dr Petty cash 250

Cr Cash 250

Explanation:

1 Preparation of the journal entry to record reimburse the fund

Jan 01

Dr Petty cash 200

Cr Cash 200

2. Preparation of the reimburse it on January 8, and

Jan 08

Dr Postage expense 74

Dr Merchandise inventory 29

Dr Delivery expense 16

Dr Miscellaneous expenses 43

Cr Cash 162

3 Preparation of jourtnal for reimburse the fund and increase it to $450

Jan 08 Postage expense 74

Merchandise inventory 29

Delivery expense 16

Miscellaneous expenses 43

Cash 162

Petty cash 250

Cash 250

View Policies Current Attempt in Progress In January, Dieker Company requisitions raw materials for production as follows: Job 1 $910, Job 2 $1,700, Job 3 $800, and general factory use $650. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 31 enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount enter an account title for the journal entry on January 31 enter a debit amount enter a credit amount enter an account title for the journal entry on January 31

Answers

Answer:

Dieker Company

Journal Entry:

Debit Work in Process $3,410

Debit Manufacturing overhead $650

Credit Raw materials $4,060

To record raw materials used for production.

Explanation:

a) Data and Calculations:

Job 1                           $910

Job 2                       $1,700

Job 3                         $800   $3,410

General factory use               $650

Total                                    $4,060

Transaction Analysis:

Work in Process $3,410 Manufacturing overhead $650 Raw materials $4,060

b) While the summary journal entry is made in Work in Process, the detailed entries are made in Job 1, Job 2, and Job 3 cost sheets.

If the risk-free rate is 7.0%, the market risk premium is 9.0%, and the expected return on Security J is 23.8%, what is the beta for Security J

Answers

Answer:

the beta for Security J is 1.87

Explanation:

The computation of the beta is given below

As we know that

Expected return = risk free rate of return + beta ×market risk premium

23.8% = 7.0% + beta × 9.0%

So, the beta is

= (23.8% - 7.0%) ÷ 9.0%

= 1.87

Hence, the beta for Security J is 1.87

Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $385,900; materials of $417,000 and direct labor of $227,000. During the year Adams incurred $408,900 in materials costs, $403,400 in overhead costs and $231,000 in direct labor costs. Compute the amount of under- or overapplied overhead for the year.

Answers

Answer:

$364,980

Explanation:

Computation for the amount of under- or overapplied overhead for the year.

First step is to calculate the

Predetermined Overhead using this formula

Predetermined Overhead rate = Estimated overhead/direct labor estimated

Let plug in the formula

Predetermined Overhead rate= 358,900/227,000

Predetermined Overhead rate= 158% of direct labor cost

Now let determine the Overhead applied

Overhead applied = $231,000*158%

Overhead applied= $364,980

Therefore the amount of under- or overapplied overhead for the year is $364,980

Selected accounts with amounts omitted are as follows: Work in Process Aug. 1 Balance 268,300 Aug. 31 Goods finished 168,800 31 Direct materials X 31 Direct labor 43,300 31 Factory overhead X Factory Overhead Aug. 1 – 31 Costs incurred 108,100 Aug. 1 Balance 12,100 31 Applied X If the balance of Work in Process on August 31 is $202,600, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs? a.$12,100 b.$12,990 c.$168,800 d.$108,100

Answers

Answer:

b.$12,990

Explanation:

Calculation to determine the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs

Using this formula

Overhead applied = Direct labor cost * Predetermined overhead rate

Let plug in the formula

Overhead applied= 43,300 * 30%

Overhead applied= $12,990

Therefore the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs is $12,990

will lend you $10,000 today with terms that require you to pay off the loan in 36 monthly installments of $500 each. What is the effective annual rate of interest that Laura is charging you

Answers

its 5.00 because i need brainly point

what does it mean to be "in the red"

Answers

Answer:

The expression "in the red" is used to describe a business that has negative earnings. This is in contrast to the phrase "in the black" which refers to businesses that are profitable and financially solvent. ... Before the use of computers, accountants recorded income in black ink and expenses in red ink.

Explanation:

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Stephanie wanted to save for her daughter's education. Tuition costs $10,000 per year in today's dollars. Her daughter was born today and will go to school starting at age 18. She will go to school for 4 years. Stephanie can earn 12% on her investments and tuition inflation is 6%. How much must Stephanie save at the beginning of each year if she wants to make her last savings payment at the beginning of her daughter's first year of college

Answers

Answer:

The amount that Stephanie must save at the beginning of each year if she wants to make her last savings payment at the beginning of her daughter's first year of college is:

= $6,428.46.

Explanation:

a) Data and Calculations:

Tuition costs per year in today's dollars = $10,000

Total tuition costs for 4 years in today's dollars = $40,000

Number of periods to save = 18 years

Interest rate on investments = 12%

Tuition inflation rate = 6%

Stephanie needs to save $6,428.46 at the beginning of each year, calculated as follows from an online financial calculator:

N (# of periods)  18

I/Y (Interest per year)  18

PV (Present Value)  40000

FV (Future Value)  0

Results

PMT = $6,428.46

Sum of all periodic payments = $115,712.21

Total Interest = $75,712.21

Botox Facial Care had earnings after taxes of $330,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $42.00. In 20X2, earnings after taxes increased to $386,000 with the same 200,000 shares outstanding. The stock price was $53.00. a. Compute earnings per share and the P/E ratio for 20X1. (The P/E ratio equals the stock price divided by earnings per share.) (Do not round intermediate calculations. Round your final answers to 2 decimal places.) b. Compute earnings per share and the P/E ratio for 20X2. (Do not round intermediate calculations. Round your final answers to 2 decimal places.) c. Why did the P/E ratio change

Answers

Answer:

Botox Facial Care

                                          20X1           20X2

a. Earnings per share       $1.65            $1.93

b. P/E ratio                       25.45x          27.46x

c. The P/E ratio changed from 25.45x to 27.46x following a change in earnings per share and the stock price per share.

Explanation:

a) Data and Calculations:

                                       20X1           20X2

Earnings after taxes $330,000    $386,000

Outstanding shares   200,000      200,000

Earnings per share       $1.65            $1.93

Stock price                 $42.00         $53.00

P/E ratio                       25.45x          27.46x

Earnings per share = Earnings after taxes/Outstanding shares

P/E ratio = Stock price/Earnings per share

Closing entries are: Multiple Choice Made to record events that occurred during the period but have not yet been recorded. Made to transfer the balances of temporary accounts to retained earnings. Made to transfer the balances of permanent accounts to retained earnings. Optional.

Answers

Answer:

Made to transfer the balances of temporary accounts to retained earnings.

Explanation:

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors.

Generally, financial statements are the formally written records of the business and financial activities of a business entity or organization.

There are four (4) main types of financial statements and these are;

1. Balance sheet: it contains financial information about assets, liability, and equity.

2. Cash flow statement: it contains financial information about operating, financial and investing activities.

3. Income statement: it contains financial information about the income and expenses of an organization.

4. Statement of changes in equity: it contains financial information about profits or loss, dividends, etc.

A closing entry can be defined as a journal entry made at the end of an accounting period to transfer all balances in the temporary accounts to a permanent account.

In Financial accounting, there are four (4) main closing entries and these include;

I. Closing expenses to income summary.

II. Closing revenues to income summary.

III. Closing dividends to retained earnings.

IV. Closing income summary to retained earnings.

This ultimately implies that, closing entries are made to transfer the balances of temporary accounts to retained earnings.

Retained earnings also known as accumulated earnings, can be defined as the total amount of net income held by a corporation for its future use after paying out dividends to its shareholders.

The retained earnings statement refers to a financial statement that enumerate changes in retained earnings for an organization over a specific period of time. The retained earnings statement is the statement of owner's equity that outlines details of changes in the amount of retained earnings (profits) over a specified period in an organization.

2. If management adopts Bo's suggestion of reducing U-Scream Ice Cream's charitable donations until profits stabilize, the company will essentially reduce its ___________.

Answers

Answer:

Corporate philanthropy

Explanation:

Corporation

This is simply known as an organization that is owned by individuals, called shareholders, so it had an large amount of money available.

Corporate Philanthropy

This is simply known as corporation involvement in giving or making a direct contribution to a charity or cause The contributions may be in different forms such as:

a. Cash,

b. Grants

c. Donations

d. In-kind services etc.

Usually, corporations often chooses a cause that fits with the corporation

There are various options for giving to philanthropy. Reduction in U-Scream Ice Cream's charitable donations can lead to a corresponding decline in charitable philanthropies by organizations.

Adjusting Entry for Supplies The balance in the supplies account, before adjustment at the end of the year, is $1,654. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $777.

Answers

Answer:

The adjustment is:

= Balance in supplies account - Supplies on hand

= 1,654 - 777

= $877

This amount will be sent to the Supplies expense account to show that it was incurred as an expense during the period but was not accounted for. Expenses are debited when they increase.

Date                      Account Title                                        Debit                Credit

XX-XX-XXXX       Supplies expense                               $877

                             Supplies                                                                         $877

Liquidity is _________. Question 10 options: equal to the market value of a firm's total assets minus its total liabilities generally most associated with intangible assets a measure of the use of debt in a firm's capital structure valuable to a firm even though liquid assets tend to be less profitable to own equal to current assets minus current liabilities

Answers

Answer:

valuable to a firm even though liquid assets tend to be less profitable to own

Explanation:

During January, its first month of operations, Dieker Company accumulated the following manufacturing costs:

Raw materials $4,500 on account, factory labor $8,100 of which $5,300 relates to factory wages payable and $2,800 relates to payroll taxes payable, and factory utilities payable $2,700.

Required:
Prepare journal entries for each type of manufacturing cost.

Answers

Answer:

Date         Account titles and Explanations         Debit       Credit

31-Jan      Raw materials inventory                       $4,500

                       Accounts payable                                           $4,500

31-Jan      Work in process inventory                    $8,100

                       Factory wages payable                                   $5,300

                       Payroll taxes payable                                      $2,800

31-Jan      Manufacturing overhead                       $2,700

                      Factory utilities payable                                    $2,700

Other Questions
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