Answer:
A partner's distributive share of partnership loss is allowed only to the extent of the adjusted basis of the partner's partnership interest:
Computation:
Year 4 Year 5
Mutt's share of profit(loss) at 50% ($15,000) $14,000
Basis 8,000 0
Unallowed loss (carryover) ($ 7,000) ($ 7,000)
Taxable income(loss) allowed ($ 8,000) $ 7,000
Annabey Inc., a small candy manufacturing company established in 1937, now has several large units that sell unique flavors of candies and assorted chocolates. When the company started out in 1937, it initially experienced slow growth as it was selling brand new products in the market, but later on, their sales picked up at a drastic speed when customers decided to try their products. The CEO of Annabey credits its growth to all the customers who love their candies and chocolates. Which of the following factors of inimitability is best reflected in this scenario?
A. Positive network externality
B. Time compression diseconomy
C. Virtuous circle
D. Complexity
Answer:
A
Explanation:
Network externality describes the effect a good or service has on a consumer when other consumers are also making use of the product
Positive network externality occurs when the marginal benefit of making use of a good increases as more users make use of the good
An example of Positive network externality is a social media platform. As there are more users on the site, you have more people to interact with.
For Annabey Inc., their growth increased when their their consumer based increased. As more people tried their product and liked it, they recommended the product to more people. this would increase their sales
list the two things the government does that fall under fiscal policy. (A.p.e.x.)
Explanation:
These two policies are combined in numerous ways to influence a country's economic situation.
Fiscal policy, together with monetary policy handled by central banks, is the primary means through which governments influence a country's economy. The two primary elements of fiscal policy are income taxes and government expenditures.
The risks associated with ethics auditing include all of the following, except for: Question 11 options: Potential cover-ups prevent accuracy Revealing a problem that might not be able to be remedied The lack of a guarantee that there is a solution Problems that the company would like to keep quiet might be made public
Answer:
Potential cover-ups
Explanation:
Ethics audit refers to a review of the company's ethics system with regard to the policy and procedures set up for employees to adhere to, so as to determine whether it was effective.
The risk associated with an ethics audit is discovering a problem that the company does not wish to disclose, identifying a problem that might not be solved, no assurance that audit is the solution, and the lack of standardisation in an audit.
This leaves out only one option that is not part of the risks associated with ethics audit which is Potential cover-ups.
Four years ago, Velvet Purses purchased a mailing machine at a cost of $154808. This equipment is currently valued at $25955 on today's balance sheet but could actually be sold for $1729. This is the only fixed asset the firm owns. Net working capital is $92535. and long term debt is $65077. What is the book value of shareholder's equity
Answer:
the book value of the shareholder equity is $53,413
Explanation:
The computation of the book value of the shareholder equity is shown below;
Book value of shareholders equity is
= Book value of mailing + net working capital - Long term debt
= $25,955 + $92,535 $65,077
= $53,413
Hence, the book value of the shareholder equity is $53,413
Feelings can be hurt by mutually respecting coworkers. Please select the best answer from the choices provided T F
Answer:
False
Explanation:
A team can be defined as a group of people or set of individuals with various skill set, knowledge and experience coming together to work on a project or task in order to successfully achieve a set goal and objective.
This ultimately implies that, a team comprises of individuals, workers or employees having complementary skills, knowledge and experience needed to execute a project or task successfully. Therefore, workers working as a team usually interact with the other team members and as a result, this enhances performance and strengthen the level of relationship they share.
Basically, when coworkers or employees working in an organization have mutual respect for one another, it would help to tighten or strengthen the bond that exists in the workplace and as such improving their feelings for each other.
This ultimately implies that, feelings cannot be hurt by mutually respecting coworkers.
If a firm hires a currently unemployed worker, the opportunity cost of utilizing the worker's services is zero. This statement is A. false because the worker's new wages are an implicit cost. B. false because the worker's time otherwise spent in unpaid household work has value. C. true because the worker's time otherwise has no value. D. false because the worker's time otherwise spent in leisure activities has no value. E. true because the worker's new wages are a sunk cost.
Answer:
B. false because the worker's time otherwise spent in unpaid household work has value.
Explanation:
In the situation it is mentioned that the firm is presently unemployed workers also the opportunity cost should be zero with respect to the service of the worker so it should be false as the time of the workers rather spending in non-paid household work contains the value
So as per the given situation, the option b is correct
issued a cheque of rs. 39000 to Saurya stores in full settlement.
journal entry
Answer:
When issuing a check to a creditor as is being done here, you need to debit the creditors account (Accounts Payable) to show that you are paying off the debt.
You also need to credit cash because a credit will show that cash was used to pay for something and so has reduced.
Date Account Title Debit Credit
XX-XX-XXX Accounts Payable - Saurya Stores Rs. 39,000
Cash Rs. 39,000
A borrower attends a seminar on how to get rich by investing in real estate with no money down. A third party encourages the borrower to invest in three real estate properties. Under the third party's guidance the borrower completes the applications and provides the specific documentation required. The borrower is unaware that the third party owned numerous properties in the name of an LLC and submitted applications on not just the three properties known to the borrower but on a total of 15 properties, this is an example of:
Answer:
Chunking
Explanation:
Chunking
chunking
This is simply known as the ways at which information is stored through the combination of small pieces of information into larger pieces.
Chunking in business is simply known also as the sale of properties at artificially inflated prices, pitched as investment opportunities to unknowly real estate investors who are promised improbably high returns and loan risks. The third-party therefore helps the investor and may use the investor's information to apply for loans at multiple institutions and then retain the proceeds leaving the borrower with multiple loans that cannot be repaid
There are a lot of fraud scheme usually includes a "get rich quick" real estate seminar. It occurs when a third party convinces an uninformed borrower to invest in a property (or properties), with no money down and with the third party acting as the borrower's agent. The third party is also the owner of the property or part of a larger group organizing the scheme.
During the taking of its physical inventory on December 31,2008, Genesis company incorrectly counted its inventory as $126,000 instead of the correct amount of $135,000.
Explanation:
Given:
Wrong inventory needed = $126,000
Right inventory need to recorded = $135,000
Correct amount need to record = 135,000 - 126,000
Correct amount need to record = $9,000
Journal entry
Purchase A/c dr 9,000
To Credit or cash A/c 9,0000
haley is helping to choose members for a customer satisfaction team which of the following employees demonstrate skill in focusing on the team's purpose?
Answer: Jesse constantly looks for better ways to solve problems for customers
Explanation:
Customer satisfaction refers to the measurement which deals with the happiness and satisfaction of customers with the product and service of a company.
Since Haley is helping to choose members for a customer satisfaction team, then the employee who can help the team focus on the its purpose is Jesse who constantly looks for better ways to solve problems for customers.
Indicate the effect of each transaction on the accounting equation by choosing the appropriate letter from the following list: Increase in an asset, decrease in another asset. Increase in an asset, increase in a liability. Increase in an asset, increase in owner's equity. Decrease in an asset, decrease in a liability. Decrease in an asset, decrease in owner's equity.
Answer:
Increase in an asset, increase in owner's equity.
Explanation:
Accounting equation is assets + liabilities = owners stockholders equity. The investment of owners in the company will increase the assets as when the company borrows money from the banks the company assets also raise equity.Finish Co. uses the allowance method based on the percent of sales method to account for bad debts. At the end of 2010, Finish Co.'s unadjusted trial balance shows an accounts receivable balance of $30,000; allowance for doubtful accounts balance of $200 (credit); and sales of $600,000. Based on history, Finish estimates that bad debts will be 1% of sales. The entry to record estimated bad debts will include a debit to Bad Debts Expense in the amount of: Multiple choice question. $500 $6,000 $6,200 $100 $5,800
Answer:
$6,000
Explanation:
Calculation to determine what The entry to record estimated bad debts will include
Bad Debts Expense=Sales of $600,000*1% of sales
Bad Debts Expense=$6,000
Therefore The entry to record estimated bad debts will include a debit to Bad Debts Expense in the amount of:$6,000
In the summer of 2002, Kelly Flatley and Brendan Synnott joined forces to launch a homemade granola business out of Flatley's parents' home. They had no advertising budget, so they had to find other ways to let consumers know about Bear Naked Granola. The entrepreneurs went door-to-door to small specialty and natural food stores. They also set up tables and tents at community events and 5K charity runs where they gave away samples of their granola. From this information, you can infer that Flatley and Synnott used the _____ method for promoting their product.
Answer: all available funds
Explanation:
From the information given in the question, it can be infer that Flatley and Synnott used the all available funds method for promoting their product.
This all available funds method is the allocation of all the available profits for advertising purposes. It is an aggressive method as it can invoice moving door to door or doing at other means in order to promote a product. It is useful when a new company wants to increase the consumer awareness with regards to its products or services.
Throughout human history we know that Group of answer choices all countries will eventually return to very low levels of real GDP per capita. None of the above. most countries were only able to establish a few decades of high levels of real GDP per capita. not until the early 19th century were a few countries able to establish sustained long-run economic growth. all countries were able to establish periods of high levels of real GDP per capita.
Answer:
not until the early 19th century were a few countries able to establish sustained long-run economic growth.
Explanation:
Industrial revolution (industrialization) can be defined as a period of significant change in economic and social manufacturing process characterized by the use of handicrafts and agrarian methods to the use of power-driven equipments and machines. Basically, the industrial revolution began in Great Britain (England) between 1760 to 1840 and eventually spread across other countries of the world.
Prior to industrialization, humans and animals were largely used as a means to generate power, execute tasks or do certain things during the production and distribution process.
However, in the advent of industrialization and technological advancement, machines were invented to replace human and animal power.
Some examples of such inanimate sources are Steam plants, Nuclear plants, Wind etc.
In human history, we know that not until the early 19th century were a few countries able to establish sustained long-run economic growth.
Expenditures capitalized as long-lived assets generally include those expenditures that:
a. Are made for normal repairs to maintain the usefulness of the asset over a number of years.
b. Are for items that have a physical life of more than a year, regardless of their cost.
c. Are material in amount and that have an economic benefit to the entity only in the curret year.
d. Are material in amount and that have an economic benefit to the entity that extends beyond the current year.
Answer:
D
Explanation:
Maria, David, and Sylvia are concerned that their company will not survive the current recession. As experienced ______________ managers, they are working collaboratively to develop new business strategies and work processes to effectively and efficiently support the company so that it can survive the current economic downturn and thrive in the coming years. Their employees are depending upon them to provide overall management of the company.
Answer:
Top-level
Explanation:
The question above points towards an answer that involves a need to differentiate between the different levels of the management, that exists in the company.
The answer is "Top-level managers" and can also be called administrative managers because they oversee the entire company. Top-level managers work actively with all departments in the company to ensure collective success, by ensuring planning and coordinating functions. Their instructions, decisions, provide guidance and it gives direction and purpose for the company.
The other two different levels of management include the middle-level managers and the low-level managers. The middle-level managers are responsible for executing the company's plans in accordance with the policies ensuring the lower level adheres to those policies as directed by the top-level managers. The low-level managers work directly with the company's workers ensuring they focus on the execution of tasks thereby giving out activities to the various workers.
The CEO of CLEO, Inc., in all her communications to employees consistently refers to her dream of CLEO becoming the company of choice for employee assistance programs. She keeps this theme uppermost and it is reflected in the firm's motto, the title of its Web newsletter, and even on the company T-shirts and mugs. This is an example of the firm's: Group of answer choices strategy. envisioned future. organizational culture. core ideology.
Lester Dunbar sold to Walter Masters real property on which Charles Endicott held a first mortgage. Masters expressly assumed the mortgage debt. Subsequently, Masters defaulted in payment of the mortgage debt. Masters contends that Endicott must first proceed against Dunbar, the original mortgagor, because he is primarily liable for the mortgage debt. Based upon these facts, ___________.
Answer: Dunbar is, in fact, a surety and must satisfy the mortgage if Masters does not.
Explanation:
A surety refers to the individual who makes a promise to be responsible for the debt obligation of a borrower on a situation whereby the borrower defaults and doesn't take responsibility. The surety is also known as the guarantor.
Since Masters defaulted in payment of the mortgage debt, but contends that Dunbar, is the original mortgagor, because he is primarily liable for the mortgage debt, then Dunbar is a surety and must satisfy the mortgage if Masters does not.
explain hotel manager
Answer:
Hotel managers are responsible for managing employees and for planning, marketing , coordinating and administering hotel services such as catering and accommodation facilities.
Answer:
hotel manager is the one who oversees all respects of running hotel housekeeping general maintain to the budget
At Bueller Tractors, a few machines in the assembly section were faulty and had to be shut down till they were repaired. This reduced the output of tractors for the quarter. In this case, the costs incurred by Bueller Tractors for repairing the machines are an example of _____ costs. Group of answer choices appraisal prevention internal failure external failure
Answer:
Internal failure
Explanation:
The CEO of Skyco, a publicly-traded company that has been earning below-average returns, has been publicly criticized by shareholders for persuading the board of directors to give her interest-free loans, for having the company purchase and furnish a lavish apartment in Paris for her personal use on her twice-yearly trips there, and for excessive stock options. The CEO's behavior may be indication of
A) reasonably compensating a CEO.
B) a weak board of directors.
C) the laxity of institutional investors.
D) the difference in risk propensity between owners and managers.
Answer:
B) a weak board of directors
Explanation:
The board of directors of a company are elected group of people that represents the interest of shareholders of a company.
They provide oversight by meeting at intervals to set policies that will govern the company.
In the given scenario the CEO got interest-free loans, for having the company purchase and furnish a lavish apartment in Paris for her personal use on her twice-yearly trips there, and for excessive stock options.
This is with the consent of the board of directors and despite the company earning below-average returns.
It is a sign that the board of directors is weak and are not adequately representating the wishes of the shareholders.
required Journal entry
received rs 18000 from debtors and discount allowed him Rs 2000
it's urgent
please help me(mark as BRAINLIEST)
Mwlqlqmqnqn im not sure...
Explanation:
Nakwqqhthats
Pedro, an administrative manager at Seal Inc., is asked to purchase 100 printers for the firm's office. He contacts a sales representative at Metro Distributors Inc. and places an order for 100 printers. Metro Distributors Inc. purchases the printers from Ink Corp., a wholesaler, and delivers them to Pedro at his office. In this scenario, Metro Distributors Inc. is most likely to be a(n) _____
Answer:
Retailer
Explanation:
From the question we are informed about Pedro, who was an administrative manager at Seal Inc., is asked to purchase 100 printers for the firm's office. He contacts a sales representative at Metro Distributors Inc. and places an order for 100 printers. Metro Distributors Inc. purchases the printers from Ink Corp., a wholesaler, and delivers them to Pedro at his office. In this scenario, Metro Distributors Inc. is most likely to be Retailer.
A retailer can be regarded as a company or entity which buys products from a manufacturer or wholesaler then sells directly to end users or customers. A retailer can be regarded as an intermediary or middleman, with them the customers can get products from the manufacturers through them. They do this with aim of making profit.
It is well-known that retaining an existing customer is far less expensive than acquiring a new one, so you suggest that the owners begin by calculating share of customer to identify opportunities to sell more products to existing customers. Before you can calculate Camp Plus's share of customer, you need to determine what type of data you need to gather. What data sources will you need to utilize to calculate share of customer
Answer:
internal and external data
Explanation:
Big Data analysis can be regarded as one that contains massive amounts of data as well as complex analysis.
Internal data can be regarded as information that is been generated from within the business these could contains some areas like operations as well as maintenanc and personnel.
External data on other hands are attributed to the market, as well as from customers and from the firms competitors, it could be gotten from survey. All for increasing profitability.
A merchant sued a company for breach of contract, alleging that the products she purchased failed to conform to contract specifications. Shortly before the trial was to begin, the merchant suffered a stroke that left her paralyzed and virtually unable to communicate. Her guardian was properly substituted as the plaintiff in the lawsuit. At trial, following presentation of the plaintiff's case, the company calls as a witness a priest to question him about a conversation he had with the merchant at a church fundraiser. In this conversation, the merchant told the priest in confidence that the products she received were actually quite functional, but that she had become aware of a lower price being offered by another vendor, and thus wanted to get out of her contract with the company. The plaintiff's attorney immediately objects on the basis of clergy-penitent privilege. How should the court rule on the objection
Answer:
Overruled, because the circumstances under which the merchant made the statement take it outside the scope of the privilege.
Explanation:
A clergy-penitent privilege is one that protects information that is divulged between a person and his priest. The matters discussed with the priest should be in his capacity as a spiritual adviser.
However in the given scenario they were in a social setting during casual conversation so it was not not in his role as spiritual adviser.
A clergy-penitent privilege will have applied if the conversation took place during confession or a counselling session.
The court should overrule the objection as the conversation is outside the scope of clergy-penitent privilege.
in Chapter 7 bankruptcy a debtor
A) Is required to draw up a petition listing all assets and liabilities
B) dose not have to pay a filing fee
C) is absolved of alimony and child support payments
D) dose not have to repay educational loans
Answer: A. is required to draw up a petition listing all assets and liabilities.
Explanation:
Bankruptcy simply refers to the legal whereby an economic entity is unable to repay their outstanding debts. In this case, the individual or business will need to sell its remaining assets in order to pay the liabilities.
Due to the above reason, then the debtor will be required by the government to list all of their assets and the liabilities that it owns and this will be used in determining whether the obligation has been fulfilled or not.
Usage of accounting.
Please help with this, i need the usage of accounting.
identify five business functions that are applicable to the scenario above.Motivate your answer by quoting from the scenario
Answer:
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Select the correct answer from each drop-down menu.
Complete the statement with correct answers.
А
is a check that you have written that you cannot pay due to
<
Answer:
bounced check; insufficient funds.
Explanation:
A bank reconciliation mainly computed by an accountant, gives the difference between the balance in relation to the bank statement and the cash balance with respect to the accounting records of the depositor in a particular financial institution.
In Financial accounting, a bank statement can be defined as an official summary or list of financial transactions, which typically comprises of the amount of money that has been paid into or withdrawn from an account by an individual or business entity over a specific period of time.
Generally, a bank statement usually has the following information charges, deposits, withdrawals, including the opening and closing balance for each account held at a given the period. Thus, bank customers are advised to frequently reconcile their records with bank statements in order to prevent non-sufficient funds (NSF) checks.
A non-sufficient funds (NSF) checks refers to a check that is not honored by the bank of the issuer due to the fact that the individual or business entity has an insufficient fund. It is also known as a bounced or bad check
Similarly, a bounced check is a check that you have written but you cannot pay due to insufficient funds in your bank account. Thus, the bank wouldn't honour a bounced check and as such no money would be paid to the holder.
Otis, the manager of a camera store, believes that his store may be closed by corporate in the near future, so he cannot sleep well at night and he is dealing with severe anxiety
and irritability, and he has been ill several times this month. Several times Otis has
missed important details in his job, and he almost got in an automobile accident this morning. The district manager is coming today to do his bimonthly evaluation of Otis's store. Although Otis usually performs well, he is worried about this one. His district manager may be influenced by ________ bias.
A) hindsight
B) sunk-cost
C) availability
D) framing
E) overconfidence
Answer:
no lseo
Explanation:
menos
