Answer: Debit Accounts receivable for $600.
Explanation:
The customer had not been billed so that means that they still owe the company. This would make them an accounts receivable so the adjusting entry will have to debit the Accounts Receivable account for $600 to show that it is increasing.
This amount will be credited to the Accrued revenue account to show that the cash has not yet been received.
When high-tech start-up Minx first hit the technology scene, it created a big splash. Its music streaming and voice control technology promised to revolutionize the field. It attracted $500,000 in seed money, suggesting that it could hire the best talent and create amazing new products. But Minx quickly fell off the fast track. It spent nearly $400,000 on a Bluetooth product that sold only 28 units. In addition, a botched security update resulted in the company's having to conduct a nationwide recall of one of its smart products. Yet, other products have been successful, and the company is not facing bankruptcy. Initially, Minx offered amazing perks to attract the best and brightest talent. It provided an in-house chef with free gourmet meals, unlimited snacks, on-site acupuncture, and free yoga classes. Its offices were pet-friendly, and new employees received a $10,000 cash signing bonus. To counter the long hours that the tech world notoriously demands of its workers, Minx offered relaxation areas with table tennis and foosball tables. Unfortunately, bad times have made it necessary for Minx to pull back on its employee perks. Although no staff people are being released, the in-house chef has to go, along with on-site acupuncture, yoga classes, and the $10,000 signing bonus. However, it's still a good place to work, and camaraderie is high.
Required:
As a communications trainee in the CEO's office, you have been asked to draft an intranet post or a memo to employees announcing the bad news. Explain the cutbacks that affect current employees. Employ the bad-news techniques taught in this chapter. What could soften this bad news?
Answer:
The responses can be defined as follows:
Explanation:
Whenever we enter an organization, we engage but we see that now the organization and ourselves have shared objectives. You operate as a team, create market value and affect the behavior of those you call customers. This is Minx's aim since day 1, and so far nothing had changed. Irrespective of the problems we face, we will prevail together again and escape from difficult situations.
That is why I send this note to inform you and in these tough economic times, we are reducing some facility's all-around idea of creating a more stable and sustainable atmosphere. In the following few months, we will eliminate some amenities including chefs, in-house acupuncturists, yoga sessions, and a prize fee of $10,000. Notwithstanding the difficulty, we would not implement personnel-related actions, such as redundancies and a decrease of employees.
Despite the reduction, I think that we will recover which is merely a temporary solution to tackle the financial storm. Your high-performing culture, comradeship, mutual care, team chemistry should dominate since we have done in the past. We didn't convey my appreciation for having people like you in our team and from this difficult period, we'll only gain strength. We looking forward more to your contributions and thoughts.
Sheridan Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $28 per year. During November 2022, Sheridan sells 10,500 subscriptions for cash, beginning with the December issue. Sheridan prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end.
Required:
Prepare the entry in November for the receipt of the subscriptions.
Answer and Explanation:
The journal entry to record the receipt of the subscription is as follows:
Cash ($28 × 10,500) $294,000
To Unearned Subscription Revenue $294,000
(being the receipt of the subscription is recorded)
Here the cash is debited as it increased the assets and credited the unearned subscription revenue as it also increased the revenue
How much must you deposit in an account today so that you have a balance of $ 23,408 at the end of 11 years if interest on the account is 12 % p.a., but with quarterly compounding?
Answer:
$6375.68
Explanation:
Then, solve the equation for P
P = A / (1 + r/n)nt
P = 23,408.00 / (1 + 0.12/4)(4)(11)
P = 23,408.00 / (1 + 0.03)(44)
P = $6,375.68
Jeong Company began operations on January 1, 2020, and uses the Average Cost method in costing its raw material inventory. Management is contemplating a change to the FIFO method and is interested in determining what effect such a change will have on net income. Accordingly, the following information has been developed:
Final Inventory 2017 2018
FIFO $630000 $635000
LIFO 510000 600000
Net Income (computed under the FIFO method) 910000 1260000
Based on the above information, a change to the LIFO method in 2018 would result in net income for 2018 of:___________
Answer: $1,225,000
Explanation:
LIFO means that when inventory is sold, only the most recent inventory is sold as opposed to FIFO where the earliest inventory is sold before the recent ones.
With FIFO, net income is usually higher because prices generally increase so LIFO will have a higher Cost of Goods sold.
Net income under LIFO = Net income under FIFO - Difference between FIFO and LIFO for the year
= 1,260,000 - (635,000 - 600,000)
= 1,260,000 - 35,000
= $1,225,000
Consider the P/E ratios of the following companies: Company A: 7.4 Company B: 11.3 Company C: 14.8 Company D: 9.1 Among these four companies, Company C has the __________. highest relative value highest dollar price lowest relative value lowest net income
Answer:
highest relative value highest dollar
Explanation:
The price to earning ratio is a financial metric used to value a company. it compares the price of a stock to the earnings of the stock. the higher the metric is, the higher the valuation of the firm
price to earning ratio (P / E) = market value per share / earnings
The higher the P/E, the higher the relative value of the firm relative to other firms. This is because investors are confident about the prospects of growth of the firm and are willing to pay a higher price for the stock of the company
Types of P/E ratio
1. trailing p/e - it is calculated by dividing current share price by the earnings per share for the past 12 months
2. forward p/e - it is calculated by dividing current share price by the estimated per share earnings for the next 12 months
Take 2014 as the price index base year. That year, you paid $80 for a day at a theme park. In 2015, the price was up to $84. Assuming that the increase reflects the inflation rate and that this rate continues in 2016, match each number to its description.
a. the 2016 price index
b. the 2015 price index
c. the inflation rate as a percentage.
d. the cost of a theme park visit in 2016 dollars:
1. 88.20
2. 110.2
3. 105
4. 5
Answer:
a. 110.2
b. 105
c, 5%
d. 88.2
Explanation:
Price index measures the changes in price level over time. It is measure of inflation.
Price index = (price of good in a given year / price of good in the base year) x 100
Types of price indexes
1. Producer price index measures the goods and services produced. this would not increase because it is used cars that is being examined
2. The consumer price index measures the changes in price of a basket of good.
Inflation is a persistent rise in the general price levels
Inflation rate = (change in prices / previous years price) x 100
Types of inflation
1. Demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. Cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
a. (88.2 / 80) x 100 = 110.25
b. (84 / 80 x 100) = 105
c. (84 / 80) - 1 = 5%
d. 1.05 x 84 = 88.2
Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is estimated to be 5 years, or 300,000 units of product, with a $15,000 salvage value. During its first year, the machine produces 64,500 units of product. Determine the machines' first year depreciation under the double-declining-balance method. Multiple Choice $66,000. $25,800. $24,000. $54,000. $48,000.
Answer:
$24,000
Explanation:
Calculation to determine the machines' first year depreciation under the double-declining-balance method.
Using this formula
Depreciation Expense = (Cost - Salvage Value)/Estimated Useful Life
Let plug in the formula
Depreciation Expense = ($135,000 - $15,000)/5
Depreciation Expense=$120,000/5
Depreciation Expense= $24,000
Therefore the machines' first year depreciation under the double-declining-balance method is $24,000
Indicate which barrier to entry appropriately explains why a monopoly exists in each scenario?
a. In the natural gas industry, low average total costs are obtained only through large-scale production. In other words, the initial cost of setting up all the necessary pipes and hoses makes it risky and, most likely, unprofitable for competitors to enter the market.
b. The Aluminum Company of America (Alcoa) formerly controlled all U.S. sources of bauxite, a key component in the production of aluminum. Given that Alcoa did not sell bauxite to any other companies, Alcoa was a monopolist in the U.S. aluminum industry from the late-nineteenth century until the 1940s.
c. Patents are granted to inventors of a product or process for a certain number of years. The reason for this is to encourage innovation in the economy. Without the existence of patents, it is argued that research and development for improved pharmaceutical products is unlikely to take place, since there's nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the development costs.
Department S had no work in process at the beginning of the period. It added 12,000 units of direct materials during the period at a cost of $96,000. During the period, 9,000 units were completed, and 3,000 units were 30% completed as to labor and overhead at the end of the period. All materials are added at the beginning of the process. Direct labor was $53,460, and factory overhead was $13,860. The total cost of units completed during the period was a.$72,000 b.$120,600 c.$133,200 d.$159,840
Answer:
$163,320
Explanation:
The computation of the total cost of units completed is shown below:
The conversion cost is
= Direct labor + factory overhead
= $53,460 + $13,860
= $67,320
Now the total cost of unit completed is
= Direct material + conversion cost
= $96,000 + $67,320
= $163,320
This is the answer but the same is not provided in the given options
Beta Inc. can produce a unit of Zed for the following costs: Direct material $ 10 Direct labor 20 Overhead 50 Total costs per unit $ 80 An outside supplier offers to provide Beta with all the Zed units it needs at $58 per unit. If Beta buys from the supplier, it will still incur 40% of its overhead. Beta should:
Answer: Beta should buy from the outside supplier
Explanation:
If Beta produces the product itself, only avoidable costs would be accounted for:
= Direct labor + Direct material + Unavoidable overhead
= 10 + 20 + ( (1 - 40%) * 50)
= 10 + 20 + 30
= $60
If however, Beta buys the product, they will buy at $58 per unit which is less than the $60 they would make it for.
Beta should buy the product because they will be able to save $2 per unit.
Michael’s basement recently flooded. He has a homeowner’s policy covering flood damage that has a $500 deductible. The total damages to the basement totaled $2500. How much will the insurance company pay in this scenario? A. $500 B. $2500 C. nothing D. $2000
Answer:
D. $2000
Explanation:
Calculation to determine How much will the insurance company pay in this scenario
Using this formula
Amount to pay=Total damages -Deductible homeowner’s policy covering flood damage
Let plug in the formula
Amount to pay=$2,500-$500
Amount to pay=$2,000
Therefore How much will the insurance company pay in this scenario will be $2,000
The Correct Answer: $2000
Big Apple Company sells tickets in advance for its weekly productions and records the proceeds as Unearned Revenue. At the end of each month, the company makes an adjusting entry to account for the tickets used during the month (ticket revenue.) On March 1, the Unearned Revenue account had a credit balance of $2000. During March, Big Apple sold 300 tickets at $20 each, and 250 tickets were used during the month. What is the balance in Unearned Revenue at the end of March
Answer:
Credit balance of $3,000
Explanation:
Calculation of unearned revenue balance at the end of march
Particulars Amount
Beginning balance $2,000
Add: during the march (300*$20) $6,000
Total unearned revenue balance $8,000
Less: Ticket used (250*$20) $5,000
Ending balance $3,000
So, the balance in Unearned Revenue at the end of March is Credit balance of $3,000.
Swifty Corporation is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $24 and Swifty would sell it for $56. The cost to assemble the product is estimated at $20 per unit and the company believes the market would support a price of $69 on the assembled unit. What decision should Swifty make
Answer:
See below
Explanation:
Assembled product
Cost = $24 + $20 = $44
Selling price = $69
Profit = $69 - $44 = $25
Unassembled product
Cost = $24
Selling price = $56
Profit = $56 - $24 = $32
Therefore, Swifty corporation should sell before assembly, the company will be better off by $7
Securitas Financial Services is contemplating purchasing and installing a new, expensive computer network. This is the type of expenditure that would be included in a(n) __________ budget. Multiple Choice capital cash operating asset
Answer:
capital budget.
Explanation:
From the question we are informed about scenerio whereby Securitas Financial Services is contemplating purchasing and installing a new, expensive computer network. This is the type of expenditure that would be included in capital budget.
Capital budgeting can be regarded as process that is been taken by a business in order to carry out evaluation of potential major projects or potential investments. An instance of this project whereby capital budgeting would be required before approval or rejection is Construction of a new plant, another one is carrying out big investment outside the venture.
It is a hot day, and Bert is thirsty. Here is the value he places on each bottle of water: Value of first bottle $7, Value of second bottle $5, Value of third bottle $3, Value of fourth bottle $1
a. From this information, derive Bert’s demand schedule. Graph his demand curve for bottled water.
b. If the price of a bottle of water is $4, how many bottles does Bert buy? How much consumer surplus does Bert get from his purchases? Show Bert’s consumer surplus in your graph.
c. If the price falls to $2, how does quantity demanded change? How does Bert’s consumer surplus change? Show these changes in your graph.
Answer:
a. Please check the attached image for the diagram
b. He would buy 2 bottles
$4
Please check the attached image for the diagram
c. he demands 3 bottles. his demand increases by 1 bottle
his consumer surplus changes to $3. It reduces by $1
Please check the attached image for the diagram
Explanation:
The demand schedule is a table that shows the relationship between price and quantity demanded of a consumer. It can be seen that the higher the price, the lower the quantity demanded. This is in line with the law of demand.
The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
the price of the good is $4 and when price is $7, he would purchase a bottle and when it is $5, he would buy a second bottle.
Thus, he would buy 2 bottles when the price is $4
ABC Construction, Inc., has buildings and equipment of $315,600, long-term debt of $154,700, accounts payable of $52,000, cash of $9,800, accounts receivable of $18,300, inventory of $62,000, and retained earnings of $147,000. What is the total equity of the firm
Answer:
199,700
Explanation:
Equity= Assets- liabilities
Assests= 315,600+9800+18300+62000
= 405,700
Liabilities= 154,000+52,000
= 206,000
Equity= 405,700-206,000
= 199,700
MC Qu. 91 Raven Company has a target of earning... Raven Company has a target of earning $70,100 pre-tax income. The contribution margin ratio is 32%. What amount of dollar sales must be achieved to reach the goal if fixed costs are $36,200
Answer:
The amount of dollar sales must be achieved to reach the goal is $331,875.
Explanation:
This can be calculated using the following formula:
Amount of dollar sales required = (Targeted pre-tax income + Fixed costs) / Contribution margin ratio ……..(1)
Where:
Amount of dollar sales required = ?
Targeted pre-tax income = $70,000
Fixed costs = $36,200
Contribution margin ratio = 32%, or 0.32
Substituting all the values into equation (1), we have:
Amount of dollar sales required = ($70,000 + $36,200) / 0.32 = $106,200 / 0.32 = $331,875
Thereforee, the amount of dollar sales must be achieved to reach the goal is $331,875.
Claremont Company sells refurbished copiers. During the month, the company sold 180 copiers for total sales of $540,000. The budget for the month was to sell 175 copiers at an average price of $3,200. The sales price variance for the month was
the definition of entrepreneurship holds the promised of
Answer:
Entrepreneurship is the pursuit of opportunity beyond resources controlled. ... Merriam-Webster gives a definition that's closer to what most of us would probably offer the English learner: an entrepreneur is “a person who starts a business and is willing to risk loss in order to make money."
Explanation:
I hope it helped❤hey buddy can u do a favor to meif u don't mind ......plz subscribe to my UTube channel - gtron9528Growing, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $7.70. You believe that dividends will grow at a rate of 25.0% per year for two years, and then at a rate of 5.0% per year thereafter. You expect the stock will sell for $35.09 in two years. You expect an annual rate of return of 23.0% on this investment. If you plan to hold the stock indefinitely, what is the most you would pay for the stock now
Answer:
$38.98
Explanation:
The maximum amount a rational investor would pay for the stock is the present value of its future dividends and the present value of the terminal value of dividends beyond year 2(the price at the end of year 2) discounted at the investor's rate of return which is 23.0%
Year 1 dividend=$7.70*(1+25.0%)=$9.63
Year 2 dividend=$9.63*(1+25.0%)=$12.04
Share price at the end of year 2=$35.09(the 5.0% is of no use since terminal value beyond has been given)
price of the stock=$9.63/(1+23.0%)^1+$12.04/(1+23.0%)^2+$35.09/(1+23.0%)^2
price of the stock=$38.98
One of the sales consultants at Ebhayi furniture store is performing very poorly. She arrives late for work and phones in sick at least once a month. She is also rude to customers and doesn't mix well with the other staff. The owner has asked you to deal with it. Discuss how you will handle this staff member.
Explanation:
i will give many works like carpenter and also I give her my position just for one day to maintain the shop . I think if she do shop owner's work she will definitely understand it and she becomes change
(or)
I will bring the same worker like she and the staff will behave rude to her and she becomes change if she understand the rude staff disturbance that how all staffs and customers feel like her. one day her behaviour will change
Nakatomi Corporation produces 10,000 units of Product A at a cost of $20 per unit. A detailed breakdown of the cost is below. Per Unit Variable costs $ 12 Allocated manufacturing overhead costs 3 Allocated general administrative costs 5 $ 20 Outside supplier's offer $ 17 What are the total relevant cost of producing the units internally
Answer: $120,000
Explanation:
Fixed costs are not considered to be relevant costs because they will be incurred by the business regardless. Variable costs are therefore the only relevant costs and in this case the variable costs are:
= Number of units * variable costs per unit
= 10,000 units * 12
= $120,000
Two countries produce coffee and blueberries. Nicaragua can produce either 25 thousand pounds of coffee or 100 thousand pounds of blueberries per year. Colombia can produce either 20 thousand pounds of coffee or 40 thousand pounds of blueberries per year.
Initially the two countries do not trade. Nicaragua produces 7 thousand pounds of coffee and 72 thousand pounds of blueberries. Colombia produces 7 thousand pounds of coffee and 26 thousand pounds of blueberries. Suppose the countries completely specialize and decide to trade 9 thousand pounds of coffee for 27 thousand pounds of blueberries.
Suppose the countries completely specialize and decide to trade 9 thousand pounds of coffee for 27 thousand pounds of blueberries. After trade, Nicaragua can consume _____________ thousand more pounds of coffee and ____________ thousand more pounds of blueberries. After trade, Colombia can consume_____________ thousand more pounds of coffee and thous and _______________more pounds of blueberries in comparison to the pre- trade consumption.
Answer:
Columbia has more than 4 coffee & 1 more berry.
2) Nicaragua has more than 2 coffee & (100-27)= 73 berry, so 1 more berry.
Explanation:
Coffee Berry
Columbia 20 40
Nicaragua 25 100
So Columbia has Comparative ADVANTAGE in Coffee,
So it specializes in Coffee, & Nicaragua specializes in Berry
Initial consumption levels:
In Columbia ( Coffee, Berry)= (7,26)
In Nicaragua, (7,72)
so if Columbia trades 9 Coffee for 27 Berry
it can have (20-9) = 11 coffee, with 27 Berry
1) Columbia has more than 4 coffee & 1 more berry.
2) Nicaragua has more than 2 coffee & (100-27)= 73 berries, so 1 more berry.
Christopher can pay $20 for one pair of shoes or $30 for two pairs of shoes. The marginal cost of the second pair of shoes is
Answer:
10$
Explanation:
2 pairs of the 20$ would be 40$ while 2 pairs is 30$ for the other set so i think its 10.
Answer: I think $10, sorry if its not correct.
Explanation:
You have been hired as a Training & Education Development consultant for Ebhayi Furniture Store. One of the challenges faced by this small firm is that there is no clear training strategy. Management believes this has led to the company not performing effectively and efficiently.
Ebhayi employs the following staff members:
4 sales consultants
1 cashier
1 cleaner
1 manager
As a consultant, advise the owner of all the types of training and development that will be relevant for each of these staff members.
Answer: sales consultant
Explanation:
You are the manager of a firm that receives revenues of $20,000 per year from product X and $100,000 per year from product Y. The own price elasticity of demand for product X is −2, and the cross-price elasticity of demand between product Y and X is −1.6.
Required:
How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent?
Answer:
$3,600
Explanation:
Calculation to determine How much will your firm's total revenues change if you increase the price of good X by 2 percent?
Using this formula
Change in Revenue = [PxQx * (1 + Ex) + PyQy * (Ey)] * % change in P
Let plug in the formula
Change in Revenue= [$20,000*(1-2) +$100,000*(1.6)] * 2%
Change in Revenue= [$20,000*(-1) + $100,000*(-1.6)] * 2%
Change in Revenue= [-$20,000 + (-$160,000)] * 2%
Change in Revenue= $180,000*2%
Change in Revenue=$3,600
Therefore how much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent will be $3,600
ILL MARK BRAINLIEST❤️❤️
1. What effect is the Federal Reserve attempting to have on the U.S. economy
through buying these Treasury bonds?
Answer:
yes
Explanation:
because of the something im just trying to get points
Job candidates are leaving an office every 50 minutes. Each candidate goes through three activities during the office visit: verification, written test, and interview. Verification takes 1 minute, the written test takes 40 minutes, and the interview takes 10 minutes. Assume there is only one resource dedicated to each activity. What is the utilization of the bottleneck resource?
Answer:
80%
Explanation:
Calculation to determine the utilization of the bottleneck resource
First step is to calculate the Flow rate
Flow rate = 1/50
Flow rate = 0.02 customer per minute.
Second step is to calculate the Bottleneck capacity
Bottleneck capacity = Min(1, 1/40, 1/10)
Bottleneck capacity= 0.025 customer per minute.
Now let determine the Utilization of the bottleneck resource using this formula
Utilization of the bottleneck resource = Flow rate/Capacity
Let plug in the formula
Utilization of the bottleneck resource= 0.02/0.025
Utilization of the bottleneck resource= 80%.
Therefore the utilization of the bottleneck resource is 80%
The response to movement originates at mechanoreceptors located in the slightly enlarged ____________ , the bases of three semicircular canals.
Answer:
Inner ear
Explanation:
The response to movement originates at mechanoreceptors located in the slightly enlarged INNER EAR, the bases of three semicircular canals
The ear has receptors that receive signals and movements which are found in the inner ear.
These mechanoreceptors can detect movements in rotational or angular dimension.
how many years will be required for a given sum of money to triple, if it is deposited in a bank account that pays 6% per year compound annualy
Answer:
19 years
Explanation:
the 19th year your money will triple and be worth 3.0256 times the original sum.
