Sales taxes must be recorded at the time of the transaction by debiting a liability (sales tax payable) and crediting the revenue account.
The following records should be made to show the sales tax:
For cash sales, June X, 2022
Dr. Cash, $232,000.
219,208 in income from sales
13.992 Cr Sales Tax Due
For credit sales, June X, 2022
Dr. 153,700 in accounts receivable
Cr Sales income was 144,478.
9,222 Cr Sales Tax Due
The journal entry to reflect the sales tax payment is as follows:
July 15, 2022, sales tax payment
23,214 Dr. Sales tax due
Cash in Cr 23,214
Therefore, sales in cash equal $233,200 x (100 x 106)
= $220,000
Credit sales = (100 – 106) x $153,700
= $145,000
Sales tax revenue is equal to
=$220,000 plus $145,000.
= $21,900
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The adjusting entry for the cash sales and credit sales transactions given above will have a debit effect and a credit effect, each with the amounts of transactions given, respectively.
The adjusting entry for the cash sales transaction
Cash Ac. Dr. $13992
To, Sales Tax Payable Ac. $13992
The adjusting entry for credit sales transaction
Sales Ac. Dr. $9,222
To, Sales Tax Payable Ac. $9,222
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in order for an investment adviser to be compensated with a performance fee, all of the following must be disclosed in writing except: a that the fee arrangement may create an incentive for the adviser to make investments that are riskier b that the fee arrangement is based on both unrealized appreciation and realized capital gains c the nature and significance of any index used as a comparative measure and the reason why the adviser believes that any comparative index used is appropriate d that the fee computation can be based on periods ending no earlier than the last day of each calendar quarter
That the fee system might encourage the investment adviser to recommend riskier assets. The answer is option (a).
What is an investment adviser?Before signing an advisory agreement that includes a performance fee, the adviser must provide the following written information:
That the compensation model might encourage the adviser to recommend riskier investments.That the compensation for the investment advisor would be based on both realized and unrealized capital gains.The methodology used to value any illiquid assets utilized to calculate unrealized appreciation.The timeframes to be utilized to evaluate performance and their importance in determining the fee; andThe characteristics of any index used to compare investment performance, its importance, and the justification for the adviser's belief that the index is accep table.To know more about investment adviser, visit:
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which of the following would be reported as an investing activity in a company's statement of cash flows?
A.Purchases of inventory such as stocks, bonds, or other marketable securities would be reported as an investing activity in a company's statement of cash flows.
This is because these investments represent the company's capital investments, which are reported on the statement of cash flows.
Investments are defined as assets bought or invested in with the goal of increasing wealth and setting aside funds from salary or capital gains. The main goal of an investment is to generate additional revenue or to make money on the investment over a certain amount of time.
Hence the options are : A. Purchasing inventory
B. Depreciation expense
C. Issuing common stock
D. Repaying a loan. So the correct option is A. Purchasing inventory
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the marine corps, within the department of the navby shall serve as an expeditionary force in readiness to perforkm which of the following specific functions is
The Marine Corps is characterized as an expeditionary force-in-readiness that is staffed, trained, and outfitted expressly to respond swiftly to a wide range of crises and conflicts throughout the complete spectrum of military activities anywhere in the globe. It highlights how naval the troops of the Marine Corps are.
Which three elements make up a Marine expeditionary force?The Marine Expeditionary Force is the primary warfighting unit of the Marine Corps in major emergencies. Each of the three MEFs in the Corps is composed of land, aviation, and logistical troops.
Being multi-functional rather than specialized, curious rather than complacent, and taking initiative rather than following rules are the right definitions of an expeditionary mindset. In essence, this expeditionary mentality values ingenuity and agility in battle.
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When a company is the first to market with a competitive advantage, this is called a first-mover advantage. All of the following companies were first-movers except ____________.
A) Apple-iPad
B) FedEx-the online self-service software
C) Apple-iPod
D) Microsoft-Bing search engine
When a company is the first to market with a competitive advantage, this is called a first-mover advantage. All of the following companies were first-movers except Microsoft-Bing search engine. Hence, option D is correct.
The first-mover advantage is a benefit received by a business that releases a good or service on the market first. Before other market entries, a company can build significant brand awareness and customer loyalty by taking advantage of the first-mover advantage.
Being the first usually allows a business to build significant brand awareness and customer loyalty before rivals enter the market. Additional time to refine its good or service and the ability to determine the new item's market pricing are two additional benefits.
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In a knowledge management system, a knowledge base consists of logical rules that identify data patterns and relationshipsTrue/False
A knowledge base in a knowledge management system does not consist of logical rules that identify data patterns and connections. So, this is false.
What exactly is a knowledge management system?A knowledge management system is any type of information technology system that saves and retrieves knowledge in order to increase comprehension, collaboration, and process alignment. Knowledge management systems can be found within companies or teams, but they can also be utilized to centralize your knowledge base for users or consumers. While the definition of knowledge management system is wide, it may be condensed down to the following purpose: to assist individuals in better utilising information to complete tasks. When viewed in this light, it might be reframed as a more proactive type of customer success.
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1 point question at position 13 (table: optimal choice of yogurt and cheese) use table: optimal choice of yogurt and cheese. the price of yogurt is $2 per unit, and the price of cheese is $4 per pound. hailey's income is $16. if she spends all of her income on cheese, the most she can buy is pounds of cheese, and her total utility will be . table: utility from yogurt and cheese number of yogurts total utility for yogurt pounds of cheese total utility for cheese 0 0 0 0 1 32 1 44 2 60 2 84 3 84 3 120 4 104 4 152 5 120 5 180 6 132 6 204 7 140 7 224 8 144 8 240 (table: optimal choice of yogurt and cheese) use table: optimal choice of yogurt and cheese. the price of yogurt is $2 per unit, and the price of cheese is $4 per pound. hailey's income is $16. if she spends all of her income on cheese, the most she can buy is pounds of cheese, and her total utility will be . table: utility from yogurt and cheese number of yogurts total utility for yogurt pounds of cheese total utility for cheese 0 0 0 0 1 32 1 44 2 60 2 84 3 84 3 120 4 104 4 152 5 120 5 180 6 132 6 204 7 140 7 224 8 144 8 240 4; 22 8; 240 6; 204 4; 152
The most she can buy is 4 pounds of cheese, and her total utility will be 152.
What is total utility? The complete enjoyment a consumer experiences after consuming a certain commodity or service is known as total utility. There is a marginal utility for each discrete unit of commodities or services. The total utility is equal to the sum of all such objects' marginal utilities.The entire utility of purchasing an item is equal to the sum of money necessary to make the buyer as content as they are now. For instance, the amount of money that would make you as content or happy as eating a chocolate bar may be used to gauge your degree of happiness.To learn more about utility refer to:
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Please answer the question posted in the image below:
Investments are financial commitments made to acquire assets in the hopes that their value would rise over time. The total value of the investments today is 2104.35
What are assets?A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset.
The balance sheet of a business lists assets. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's value or improve the operations of the company.
Whether it's manufacturing equipment or a patent, an asset can be viewed of as anything that, in the future, can generate cash flow, lower expenses, or increase sales.
Access that other people or companies do not have can likewise be represented as an asset. Additionally, a right or other sort of access may be legally enforceable, meaning a firm may use financial resources as it sees fit.
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an agent and his customer wish to open a joint account by contributing $10,000 each. all of the following statements are true except the: a account must be approved by the broker-dealer in writing prior to any trading b agent and his customer can agree to share profits in the account as they see fit c agent and his customer must share profit and loss on a 50/50 basis d agreement between the agent and his customer must be documented in writing
Agent and his customer can agree to share profits in the account as they see fit. The answer is Option B.
What is a customer profit?Agents are not permitted to participate in a customer's account unless a formal agreement between the customer and the agent and approval from the broker-dealer exists. Participation must be proportionate to the capital supplied. Because each person in this situation provided half of the funds, sharing must be done equally.Customer profitability is the profit the company generates by serving a certain customer or set of customers over a given period of time. More precisely, it is the difference between the revenues generated by the customer relationship and the costs incurred during that time. The following formula is used to calculate profitability in customer profitability analysis: Total annual revenue generated x Total profit per client the full amount spent. Analyzing customer profitability can assist identify which clients are profitable.To learn more about customer profit refer to:
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Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.Correct The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the governmentCorrect The variety of goods available to consumersCorrect The loss of enjoyment people incur when scenic land is converted to commercial useCorrect Federal government paychecks to soldiersGDP does not account for off-the-books activities, such as babysitting, which add value to the economy but are not reported to the government. It also doesn't consider the enjoyment households experience as a result of the variety of goods available to consumers. Finally, GDP doesn't take into account the loss of enjoyment people incur when scenic land is converted to commercial use. All of these, though important in measuring the true quality of life within a country, would be far too difficult to measure accurately.Federal government paychecks to soldiers are accounted for in GDP as government purchases.
The importance of childcare services when the nanny receives payment in cash without disclosing the transaction to the authorities
What is meant by GDP?Babysitting is one of several off-book activities that are not included in the GDP since some of the values and transactions are not added to it.In the US, a lot of individuals receive pay for babysitting, but this money is not added to the economy and does not take into account the losses that result from people losing their enjoyment of things.GDP measures the monetary value of finished goods and services that consumers have purchased and which have been created in a country over a given time period (say a quarter or a year).A nation's entire output is measured within its borders. Typically, a country's gross domestic product (GDP) is used to assess the value added produced via the production of goods and services over a given time period (GDP).As a result, it also accounts for the money made from that manufacturing, or the total amount spent on finished goods and services (less imports).To learn more about GDP, refer to:
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the united states and mexico are trading partners. suppose a flue outbreak significantly decreases us tourism in mexico and causes
Suppose a flu outbreak significantly decreases U.S. tourism in Mexico and causes the Mexican economy to enter a recession. Assume that the money that would have been spent by U.S. tourists in Mexico is, instead, not spent at all.
In the late 19th and early 20th centuries, urban tourism in the United States experienced a rapid expansion. In the United States, tourism had a strong cultural and economic foundation by the 1850s. Since the 1890s, numerous tourists have visited the major American cities of New York City, Los Angeles, Chicago, Boston, Philadelphia, Washington, D.C., and San Francisco. American perceptions, social structures, and modes of transportation had significantly changed by 1915 as a result of city touring.Millions of domestic and foreign tourists use the services provided by the tourism industry annually in the United States. The United States attracts visitors from abroad to see its cities, historical sites, and entertainment centers.To know more about tourism, here
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compensation, as described in your text, refers to the . group of answer choices wage schedules and wage rates listed in the union contract internal alignment of intrinsic awards total of all rewards provided to employees in return for their services wages individuals receive each pay period
Compensation, as described in the text, refers to the total of all rewards provided to employees in return for their services.
It includes all forms of pay or benefits that an employee receives as a result of their employment, including not only wages, but also bonuses, stock options, health insurance, retirement plans, and other forms of non-monetary compensation.
Compensation can be divided into two categories: direct and indirect. Direct compensation includes wages, salaries, and bonuses, while indirect compensation includes benefits such as health insurance, retirement plans, and other forms of non-monetary compensation.
The text may also mention about the wage schedules and wage rates listed in the union contract, which is one of the components of direct compensation. Internal alignment of intrinsic awards is also a part of compensation, this refers to the rewards provided by the company to its employees for their performance, such as promotions, bonuses, and stock options.
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Which of the following is true about intentional infliction of emotional distress? O The defendant's conduct must go beyond all possible bounds of decency and be regarded as atrocious and utterly intolerable in a civilized society. O The plaintiff must have witnessed severe physical injury to a relative or other significant person in the plaintiff's life. O There must be some physical contact with the plaintiff. O Recovery is allowed anytime there is a measurable amount of mental distress.
"The defendant's conduct must go beyond all possible bounds of decency and be regarded as atrocious and utterly intolerable in a civilized society." The statement is correct.
Intentional infliction of emotional distress (IIED) is a type of tort that involves intentionally causing severe mental distress to another person.
In order for a plaintiff to successfully recover damages for IIED, the defendant's conduct must be outrageous and exceed all bounds of decency. The defendant's conduct must be so extreme that it would be regarded as atrocious and utterly intolerable in a civilized society.
There does not need to be any physical contact with the plaintiff, and the plaintiff does not need to witness any severe physical injury to a relative or other significant person in the plaintiff's life. Furthermore, recovery is not allowed anytime there is a measurable amount of mental distress - the distress must be extreme and the defendant's conduct must be outrageous.
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the master switches to be turned on when opening the office in the morning, and turned off when closing the office in the evening are _______.
The master switches to be turned on when opening the office in the morning, and turned off when closing the office in the evening are the central air compressor. and the vacuum unit. and the dental and radiographic units
What is Radiographic units?The international units of becquerels (Bq) and curies are used to measure the radioactivity of a substance (Ci, U.S. unit). Results for radioactivity are typically displayed in picocuries because a curie is a significant unit (pCi). The smallest unit of a curie is a picocurie. The more the number increases, the more radiation the substance emits. Units of Radiation The radiation dose and exposure are measured using a variety of units, including rad or radiation absorbed dose. the quantity of radiant energy that a specific volume of tissue has absorbed. A dose of one joule of energy per kilogram of matter, or 100 rad, is the definition of a gray (Gy), a unit of absorbed radiation.To learn more about Radiographic units refer to;
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a business paid dividends to its shareholders. show how to record the transaction to the t-accounts by completing the following sentence. dividends would be
A reporting organization should credit dividends due on the declaration date and debit retained profits (or any other eligible capital account from which the dividend will be paid) to record a dividend.
The phrase defines how the accounting entries are formatted. On a piece of paper, a giant letter T is originally drawn. Below that, split by the letter's vertical T, debits are reported on the left and credits are recorded on the right. The account name is then printed above the top horizontal line. Transaction identification, journal entry recording, posting of transactions, creation of the unadjusted trial balance, worksheet examination, worksheet inconsistency correction, financial statement preparation, and bookkeeping are the stages of the cycle.
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Consider a mutual fund with $204 million in assets at the start of the year and with 12 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $6 million. The stocks included in the fund's portfolio increase in price by 8%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 1.00%, which are deducted from portfolio assets at year-end. a. What is net asset value at the start and end of the year? (Enter your answers in dollars rounded to 3 decimal places.) Net Asset Value Start of the year $ End of the year b. What is the rate of return for an investor in the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Rate of return %
a) The net asset value of the mutual fund at the start and end of the year is 18.36
b) The rate of return for an investor in the fund is 10.94%
How is the rate of return determined?To calculate a simple rate of return, the investment's current value is subtracted from its starting value, which is then divided by the investment's original value. It includes any change in the investment's value as well as any cash flows the investor receives as a result of the investment, such as interest payments, coupons, cash dividends, and stock dividends
Given:
a)
start NAV = asset/shares outstanding = 204/12 = 17
end NAV = asset*(1+price increase)/shares outstanding
= 204 × (1 + 0.08) / 12 = 18.36
b)
The return for investor =
(end NAV-start NAV)/start NAV × 100+dividend/shares outstanding × 100
=(18.36-17)/17 × 100+6/204 × 100
=10.94%
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an investment adviser would be allowed to lend money to a customer in which of the following situations? a the customer informs the adviser that he has been fired from his job and needs the funds on an emergency basis to meet his monthly living expenses until he finds a new job b the customer is an old college buddy of the adviser and is going through a nasty divorce and he needs the funds to pay for court- ordered child support
Borrowing and lending agreements between registered investment advisors (RIAs) and clients of their member companies are governed by FINRA Rule 3240.
Explain registered investment advisors?
A company that provides clients with financial advice and portfolio management services is known as a registered investment advisor (RIA). RIAs are registered with either state securities administrators or the U.S. Securities and Exchange Commission (SEC).
RIAs have a fundamental duty to always and only offer investment advice that is in their clients' best interests. This is known as having fiduciary obligations to their clients.
The SEC or any other regulator's recommendation or endorsement is not implied by an RIA's registration. It simply indicates that the financial advisor has met all criteria set forth by that organization for registration. Information such as these must be disclosed in order to register with the SEC.
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byu given the following information, compute the ending amount of retained earnings. caution: not all of the items listed should be included in the computation of ending retained earnings.
Calculate the FINAL balance in RETAINED EARNINGS that will be reported on the balance sheet. Account/Debit/Credit Cash/$5,600. Inventory/14,000.
At the end of the period, you can calculate your ending retained earnings balance for the balance sheet by taking the beginning period, adding any net income or net loss, and subtracting any dividends.Cash flow does not appear on a statement of retained earnings All three The components of retained earnings include retained earnings for the initial period,net profit loss realized during the accounting period.The purchase of land does not affect the retained earnings account. Retained earnings refers to the part of profits or earnings that is not distributed to shareholders as dividends.These profits are reinvested in the business for working capital requirements and for the purchase of fixed assets. It can also be used to pay off any type of debt obligations.Inward transports appear in the trade account but not in the balance.
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an invoice is a form that describes the goods or services sold, the quantity and the price, and the terms of the sale. T/F
TRUE: An invoice is a document that lists the products or services sold, their cost and quantity, and the terms of the transaction.
Explain the term invoice?Often called a sales invoice, sales ticket, or sales slip, the invoice that serves as an original document for documenting a sale upon account goes by one of these names.
An accounting document known as a sales invoice is delivered by a supplier of products or services to a customer. It keeps track of the goods and services delivered, the money owing by the client, and the accepted methods of payment. Particularly for larger purchases, invoices establish legally enforceable agreements between businesses and customers. Sales invoices assist you with bookkeeping because they are legal records that track that total amount of money entering your company. Sales invoices also offer the following advantages: Tax documentation.Thus, An invoice is a document that lists the products or services sold, their cost and quantity, and the terms of the transaction.
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on friday, betty's grooming paid its employees a total of $2,000. this transaction would have which of the following effects on the accounting equation:
On Friday, betty's grooming paid its employees a total of $2,000. this transaction would have which of the following effects on the accounting equation: decrease cash increase wages expense
A wage is the sum of money that an employer pays an employee for work that was completed within a certain time frame. The minimum wage, prevailing wage, annual bonuses, and remunerative payments like prizes and tip payments are a few examples of wage payments.Payment by wage contrasts with salaried work, where the employer pays an agreed-upon sum at regular intervals (such as once a week or once a month) regardless of the number of hours worked, with commission, where pay is contingent on individual performance, and with compensation based on the performance of the company as a whole.To know more about wage here
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if a non-resident agent engages in conduct prohibited under the uniform securities act, that individual can be subpoenaed:
If a non-resident agent engages in conduct prohibited by uniform securities laws, that person may be subpoenaed in either agent's state or Administrator's State. The administrator has jurisdiction for offers entering or leaving state.
What is the purpose of the Uniform Securities Act?The Uniform Securities Act (United States) provides basic investor protections against securities fraud and supplements federal securities laws. This law applies only to securities that are not regulated by the Securities and Exchange Commission.
Which states are covered by the Uniform Securities Act?As of January 2009, the 2002 Act is in force in Georgia, Indiana, Iowa, Kansas, Maine, Hawaii, Idaho, Minnesota, South Carolina, South Dakota, Vermont, Missouri, Oklahoma, Wisconsin, and the U.S. Islands. The 2002 Law has been endorsed by following organizations: ABA (American Bar Association).
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alarm solutions inc., a large theft protection company, has different representatives to assist business clients and individual clients. this is an example of ___ departmentalization.
Another aspect of organizational structure that is affected by the size of an organization is departmentalization.
Security management consists of nurturing a security-conscious organizational culture,developing tangible procedures to support security, and managing.A matrix structure,also called a project-management structure,sets up teams from different departments,thereby creating two or more intersecting lines of authority.It simplifies decision making and helps coordinate all activities related to a product.Job design is the determination of an individual's work-related responsibilities.The most common form is job specialization.A system should have provision for cost and price percentage analysis of each item,group of items and sales outlet. It is much more enlightening and important.
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braxton foods, inc. started using a new preservative in its products. however, it didn't include anywhere on its packaging that this preservative could cause an allergic reaction to people who are allergic to milk products. this is a violation of the consumers' right to
Answer: Braxton Foods, Inc. violated consumers' right to information and safety.
Explanation: When a company introduces a new ingredient or preservative in its products, it has a responsibility to provide clear and accurate information to consumers. In this case, Braxton Foods, Inc. failed to disclose on its packaging that the new preservative could cause an allergic reaction in individuals who are allergic to milk products. This omission violates consumers' right to information and safety.
US Consumers have 8 consumer rights with the four basic rights first declared in 1962 by US President John F. Kennedy including the two rights listed above. Later The Food Allergen Labeling and Consumer Protection Act of 2004 (FALCPA) was passed after a random sample of manufactured food products failed to include potential allergens on their labels.
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On the statement of cash flows, which of the following are considered financing activities?
I. Increase in long-term debt.
II. Decrease in accounts payable.
III. Interest paid.
IV. Dividends paid.
A. I and IV only.
B. III and IV only.
C. II and III only.
D. I, III, and IV only.
E. I, II, III, and IV.
On the statement of cash flows, I. Increase in long-term debt and IV. Dividends paid are considered financing activities.
The payment of dividends is categorized as a finance activity. Interest and dividends are consistently categorized as operating, investing, or financing cash operations depending on whether they are received or paid. A financial institution often includes dividends, interest, and interest payments received in operating cash flows.
The net amount of financing a business generates during a specific time period is called cash flow from financing activities. The issuing and repayment of equities, the payment of dividends, the issuance and repaying of debt, and lease obligations are all examples of financial activity.
The balance sheet categorizes long-term debt as financing activities. This covers both payments and borrowings. A firm must consider its future possibilities when deciding whether to borrow money. A quick economic slump and high debt levels.
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I. An increase in long-term debt and IV. Dividend payments are included as financing operations on the statement of cash flows.
Dividend distribution is a type of financial activity. Depending on whether they are received or paid, interest and dividends are regularly classified as financing, investing, or operational cash operations. Operating cash flows for a financial institution may comprise dividend, interest, and interest payment receipts.
Cash flow from financing operations refers to the net amount of funding a company generates over a given time frame. Financial activity includes, among other things, the issue and repayment of equity, the payment of dividends, the issuance and repayment of debt, and leasing obligations.
Long-term debt is categorised as a financing activity on the balance sheet. Both payments and borrowings are covered by this. When considering whether to borrow money, a company must take its potential for the future into account. rapid economic decline and high debt levels.
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Suppose that the band playing at the rock concert at your school next weekend is playing this weekend at another school. As at your school, the concert sold out quickly, leaving many loyal fans who would still like to buy tickets. There are also some ticket holders who might be willing to sell. Some of these potential sellers can no longer go to the concert. Other ticket holders are only moderately interested in the band and would sell their tickets if the price were high enough. In the graph below, the blue demand curve (circle symbols) shows the willingness to pay for students without a ticket. The orange supply curve (square symbols) shows the reservation price for students with tickets. Use these supply and demand curves to answer the following questions. If the price of a ticket is $50, there will be __
If tickets are free (that is, the price is $0), there will be __
The equilibrium of this market is achieved when __ tickets are sold at a price of __
If the price of a ticket is $50, there will be - Oversupply . If tickets are free (that is, the price is $0), there will be - shortage of tickets.
1. If the price of a ticket is $50,
Then the supply = 40 and
demand of ticket = 20.
So, there will be an oversupply of tickets = 40 - 20
= 20 tickets.
2: There will be a shortage of tickets if they are free, or cost nothing.
The demand will be overwhelmingly high and the supply will be negative in this scenario.
3: When 30 tickets are sold at a price of $35, this market reaches equilibrium.
This equilibrium occurs at the intersection of the demand and supply curves. When the price is $35 and there is a demand for thirty tickets, these two curves come to an intersection.
What exactly is a demand-supply curve?The quantity of a particular product or service that consumers will be willing and able to purchase at each price over a given time period is depicted by the demand curve. The quantities that sellers will offer for sale at each price over the same time period are depicted by the supply curve.
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which of the following is the best example of structural unemployment? which of the following is the best example of structural unemployment? workers enter the labor force because wages are increasing workers quit their current job to go back to school to get better training. workers are fired because the skills they have are no longer valuable. workers are laid off due to a recession new immigrants have a hard time finding jobs
The best illustration of structural unemployment Examples of structural unemployment include the manufacturing sector and the labour markets for picking fruit.
When the abilities that people in the economy can supply do not match the skills that companies are looking for in employees, structural unemployment results (also known as the skills gap). Changes in the economy, technological advancements, and a lack of individuals with the necessary job skills can all be contributing factors to structural unemployment.
When there is a discrepancy between a worker's skill set and the jobs that are available on the market, unemployment results.
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review the chapter explanations of the income statement and the balance sheet equations. apply these equations in each of the following independent cases to compute the two missing amounts for each case. assume that it is the end of the first full year of operations for the company. (loss amounts should be indicated with a minus sign.)
By deducting the costs from the revenue in this scenario 1, the net income is determined. Consequently, there is a $400,000 profit.Since no assets or liabilities are specified in Case 2, the balance sheet equation is irrelevant.
Case 1:
Revenue = $1,000,000
Expenses = $600,000
Answer:
Net Income = $400,000
The income statement equation is:
Net Income = Revenue - Expenses
In this case, the net income is calculated by subtracting the expenses from the revenue. Therefore, the net income is $400,000.
The balance sheet equation is:
Assets = Liabilities + Equity
In this case, since the balance sheet equation does not apply since no assets or liabilities are given.
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Consider two neighboring island countries called Sequoia and Glacier. They each have 4 million labor hours available per week that they can use to produce jeans, rye, or a combination of both. The following table shows the amount of jeans or rye that can be produced using 1 hour of labor.
Sequoia's opportunity cost of producing one pair of jeans is 2 bushels of rye.
Glacier's opportunity cost of producing one pair of jeans is 4 bushels of rye.
How to find the opportunity cost?To find the opportunity cost of producing jeans to either Sequoia or Glacier, the formula is:
= Bushels of rye produced per hour of labor / Bushels of jeans produced per hour of labor
For Sequoia , the opportunity cost of producing jeans is:
= 24 / 12
= 2 bushels of rye
For Glacier, this is:
= 32 / 8
= 4 bushels of rye
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The table and the question is:
Country Jeans Rye
Pairs per hour of labor Bushels per hour of labor
Sequoia 12 24
Glacier 8 32
Sequoia's opportunity cost of producing one pair of jeans is____ bushels of rye.
Glacier's opportunity cost of producing one pair of jeans is ____ bushels of rye.
causality is one of the most difficult questions to answer and continues to be an important and sometimes perplexing problem for researchers. T/F
Above statement is correct regarding causality also known as causation.
What’s the difference between correlation and causation?Correlation does not automatically imply causation, even if causality and correlation might coexist. One thing leading to another is referred to as causation; in other words, action A leads to result B. Contrarily, correlation is only a relationship in which action A is related to action B, but where one event does not always compel the occurrence of the other. Because the human mind enjoys coming up with explanations for events that seem to be connected even when they are not, correlation and causation are frequently misunderstood. When two variables seem to be interdependent, we frequently invent these explanations to explain the relationship. That suggests a cause-and-effect relationship, where one event is the result of another event.
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10 POINTS and brainliest for the best explanation...Can someone clearly explain to me what the three p's in marketing mean?
The "Three P's" in marketing are Product, Price, and Promotion.
What are the Three P's in Marketing?Product refers to the goods or services that a company offers. It includes features, design, packaging, branding, and any other element that differentiates it from competitors.
Price refers to the cost of the product or service, and how it is determined. It can include factors such as production costs, competition, and target market.
Promotion refers to the methods and strategies used to communicate and market the product or service to the target audience. It includes advertising, sales promotions, public relations, and personal selling.
Together, the Three P's make up the marketing mix, which is the combination of elements that a company uses to reach its target market and achieve its marketing objectives.
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allowance for doubtful accounts has a credit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customer ledger indicates that the estimated amount of uncollectible accounts should be $16,000. based on the estimate
The adjusting entries which should be made is: Debit Bad Debt Expense, $15,200; credit Allowance for Doubtful Accounts, $15,200. The correct option is B.
What does the provision for questionable accounts' unadjusted balance mean?The initial amount plus or minus the adjustments create constitutes the allowance for doubtful accounts' unadjusted balance. The amounts recorded by the allowance method which are later recovered or receivables which have been previously written down can all be included in an adjustment.
When you credit allowance for doubtful accounts, you have to estimate what is uncollectible, and you call it bad expense. Your money is moved into a holding account to show that you may not get it. When your mind shifts and you realize you are definitely not going to receive this money, it is doubtful that you will get it. You need to take it out of your minds. To show that you are not going to receive the money, you have to remove it from the allowance for doubtful accounts and credit the accounts receivable.
So, in this case, we need to take it out of this balance as follows:
Allowance for Doubtful Accounts = uncollectible accounts – credit balance
= $16,800 – $800 = $15,200
Now, you had cleared out the allowance for delta accounts, so you would need to reconcile the expense and accounts receivable. To show that you no longer have that expense, you would need to take accounts receivable and credit bad debt expense. To show that you are no longer waiting on the money, you would need to make a second entry into the account to show that you've received cash and a credit. It is depended on whether the company needs to show their ins and outs or not, and sometimes people combine these entries and do it all in once, a debit to cash and a credit to bad debt expense for the transaction.
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Although part of your question is missing, you might be referring to this full question: Allowance for Doubtful Accounts has a credit balance of $800 at the end of the year (before adjustment), and an analysis of accounts in the customer ledger indicates the estimated amount of uncollectible accounts should be $16,000. Based on the estimate above, which of the following adjusting entries should be made?
A. Debit Bad Debt Expense, $800; credit Allowance for Doubtful Accounts, $800
B. Debit Bad Debt Expense, $15,200; credit Allowance for Doubtful Accounts, $15,200
C. Debit Allowance for Doubtful Accounts, $800; credit Bad Debt Expense, $800
D. Debit Bad Debt Expense, $16,800; credit Allowance for Doubtful Accounts, $16,800