1. The journal entry to record the credit sale by Scott's Cycles, using a perpetual inventory system, is as follows:
February 1:
Debit Accounts Receivable $1,500
Credit Sales Revenue $1,500
To record the credit sales, terms 2/15, n/30.Debit Cost of goods sold $975
Credit Inventory $975
To record the cost of goods sold.2. The journal entry to record the collection of the account by Scott's Cycles is as follows:
February 9:
Debit Cash $1,470
Debit Cash Discounts $30
Credit Accounts Receivable $1,500
To record the collection of the account and cash discounts allowed.3. The journal entry to record the collection of the account by Scott's Cycles is as follows:
March 2:
Debit Cash $1,500
Credit Accounts Receivable $1,500
To record the collection of the account.2. The journal entry to record purchase on account by Scott's Cycles is as follows:
March 4:
Debit Inventory $9,000
Credit Accounts Payable $9,000
To record the purchase of bicycles and accessories, terms 3/10, n/30.What are the journal entries?Journal entries are the accounting records kept by an entity about its daily transactions.
Journal entries identify the accounts involved in each transaction and whether they will be debited or credited.
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After John's father died, John inherited his successful tire business, Thrifty Tire. John wants to make sure the company's culture, which his father had built for over 40 years, does not get lost but instead remains embedded in the organization. First, summarize 4 of the 12 ways that a particular culture can become embedded in an organization. Then explain how John might use each technique to keep Thrifty Tire's corporate culture strong, with an emphasis on employee development, a family-like atmosphere, and a dedication to offering the best service and the lowest prices.
The four ways that John can embed culture in Thrifty Tire are as follows:
Model corporate values and behaviors.Encourage workers' commitment by requesting ideas contributions.Share stories of corporate values in action.Making a checklist of corporate values.What is corporate culture?Corporate culture encompasses the following:
Guidelines on how company employees act, feel, and think. The organization's social and psychological environmentThe unique corporate personalityAn expression of the core corporate values, ethics, behaviors, and belief.Corporate culture refers to the interaction of a company's employees and management in handling customers based on acceptable beliefs and behaviors.
John can embed the corporate culture of Thrifty Tire by ensuring that the accepted corporate values and behaviors are properly documented for easy accessibility to the workers and managers.
John can also ensure that written documents by the company continue to retell the corporate values, making them alive in the present.
John can request workers to contribute ideas to the effective running of the company, thereby ensuring their buy-in.
A checklist of corporate values in fliers and other easily accessible documents issued by the company, including at notice boards and displays will entrench the values in the employees.
Thus, John needs to do more by not only talking about the corporate values but practically reinforcing them on every occasion.
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The customer told you that being competitive in their market is a moving target. They asked you to add
several items to the scope, even if it adds more time and money. What approach would help you manage
the scope for this project?
The best approach to help manage the scope for the project where the customer asked for more items to be added to the scope is to switch to an Agile approach.
What is an Agile approach?An agile approach to help manage the scope for the project would involve:
Breaking up the scope into several phases. Ensuring constant collaboration with stakeholders.Using continuous incremental improvements.Thus, the best approach to help manage the scope for the project where the customer asked for more items to be added to the scope is to switch to an Agile approach.
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Question 4/5
What is the difference between gross and net pay?
Gross pay is before taxes are subtracted but net pay
is after taxes are taken out.
Gross pay is after taxes are subtracted but net pay
is before taxes are taken out.
Net pay is a salary and gross pay is from hourly
wages.
Gross and net pay are basically the same things.
Answer:
Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. The amount remaining after all withholdings are accounted for is net pay or take-home pay. Employers who familiarize themselves with these two terms are often better equipped to negotiate salaries with workers and run payroll effectively.
Explanation:
Rewita pokhrel
Gross pay is before taxes are subtracted but net pay is after taxes are taken out. Therefore, option B is correct.
What is gross pay and net pay ?The difference between gross pay and net pay is that gross pay refers to the total amount of salary or wages earned by an employee before any deductions, while net pay refers to the amount of salary or wages that an employee receives after deductions such as taxes, social security contributions, and other withholdings have been taken out.
Gross pay refers to the total amount of salary or wages that an employee earns before any deductions are made. This includes any overtime pay, bonuses, or other compensation that an employee is entitled to receive. Gross pay does not take into account any taxes or other deductions that are required by law.
Net pay, on the other hand, refers to the amount of salary or wages that an employee receives after all deductions have been taken out. This includes deductions for taxes, social security contributions, health insurance, and any other withholdings that are required by law or agreed upon by the employee and employer.
Hence, option B is correct.
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A wrapping paper company produced 20,000 rolls of paper one day. Standard price is $2 per roll. Labor cost was $240, material cost was $25, and overhead was $420. Determine the multifactor productivity
a. 29.197
b. 14.598
c. 58.394
d. None of the provided answers
Based on the various costs of producing the rolls of paper, the multifactor productivity is c. 58.394.
What is the Multifactor Productivity?This can be found by the formula:
= Cost of standard production / (Labor + Material + Overhead costs)
Solving gives:
= (20,000 x 2 per roll) / ( 240 + 25 + 420)
= 58.894 rolls
In conclusion, option C is correct.
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QUESTION 1 Provide a summary of the implications, growth and opportunity of BRICS and also include practical examples of how the implications can affect the identified SME/SMME.
The RLX Co. just paid a dividend of $3.20 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. If investors require a return of 10.5 percent on the company's stock, what is the current price?
The current price of the company's stock is $51.20.
What is the current price of the stock?The formula that can be used to determine the price of the stock is the constant dividend growth model
Price = d1 / (r - g)
d1 = next dividend to be paid = current dividend paid x (1 + growth rate) = $3.20 x (1.04) = $3.328
r = cost of equity
g = growth rate
Price = $3.328 / (10.5 - 4)
$3.328 / 0.065 = $51.20
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A man 1.5 m tall is 15 m away from a tower 20 m high. What is the angle of elevation of the top of the tower from his eyes?
Answer:
what is the answer
Explanation:
what is the answer
How does screening help with keeping the organization secure?
Answer:
screening helps because it is designed to keep track of things and do background checks to make people or objects secure.
pls mark brainliest
have a great day
Answer:
Security screening checks the history and background of successful applicants and current employees. For most positions, screening consists of a criminal record check, which is a search for convictions, penalties or outstanding charges.
Nicholas just started a new business. He recognizes the need for performance appraisals but does not want to develop different ones for each job. He should use the ______ with all employees to rate their performance on a continuum such as excellent, good, average, fair, and poor.
If Nicholas wanted to use a performance appraisal style that rated performance on a continuum, he should use the Graphic rating scale form.
What is the Graphic rating scale form?It is a performance appraisal style where the various factors contributing to employee performance are rated on a continuum with answers such as excellent, very good, fair, and the like.
The advantage of this is that it can apply to several types of jobs so there would be no need to come up with new appraisal styles.
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You have just received $250,000 to start your own business. What type of business would you start, and how would you allocate the $250,000 in your start-up?
Answer:
Having $250,000 I can start to have my own grocery.
Explanation:
To allocate it, I will itemize the cost of the marketplace where it is located, my manpowers' salary, estimated utility, and other expenses. approximately about $120,000
second, I will Identify the suppliers and their products to sell and have at least $100,000 initial badget to fill the store
the extra $30,000 would be for the emergency fund.
thank you
Answer:
Having $250,000, I would start a food business/restaurant.
Explanation:
A potentially huge hurricane is forming in the Caribbean, and there is some chance that it might make a direct hit on Hilton Head Island, South Carolina, where you are in charge of emergency preparedness. You have made plans for evacuating everyone from the island, but such an evacuation is obviously costly and upsetting for all involved, so the decision to evacuate shouldn’t be made lightly. Discuss how you would make such a decision. Is EMV a relevant concept in this situation? How would you evaluate the consequences of uncertain outcomes?
It can be deduced that the expected monetary value (EMV) is relevant in the given situation and the way that will be used evaluate the consequences of uncertain outcomes.
What is expected monetary value?The expected monetary value means how much money you can expect to make from a certain decision. Decision-making under uncertainty is to make a decision without knowing the possible outcome of the situation.
In this case, the decision-makers estimate the possible chance of a hurricane hitting the island and the probability distribution of the damage that will be caused by it if in case it really happens.
These are extremely difficult probabilities to estimate as the damage estimation can be both damages to property as well as damage to human beings.
In a situation such as this, it is impossible to avoid difficult trade-offs between the losses incurred by monetary losses and the losses incurred by human losses.
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Generally accepted accounting principles (GAAP) require companies with a large amount of receivables to use
a. the allowance method.
b. the direct write-off method.
c. the estimated method.
d. the sales factor method.
Identify and explain about any 3 title of business objectives
Answer:
1. Getting and Staying Profitable
Maintaining profitability means making sure that revenue stays ahead of the costs of doing business. Focus on controlling costs in both production and operations while maintaining the profit margin on products sold.
2. Productivity of People and Resources
Employee training, equipment maintenance and new equipment purchases all go into company productivity. Your objective should be to provide all of the resources your employees need to remain as productive as possible.
3. Excellent Customer Service
Good customer service helps you retain clients and generate repeat revenue. Keeping your customers happy should be a primary objective of your organization.
4. Employee Attraction and Retention
Employee turnover costs you money in lost productivity and the costs associated with recruiting, which include employment advertising and paying placement agencies. Maintaining a productive and positive employee environment improves retention.
which investment ideas is simple
Suppose Japan exports cars to Russia and imports wine from France. This situation suggests: ____________
a. Japan has a comparative advantage relative to France in producing wine, and Russia has a comparative advantage to Japan in producing cars.
b. Japan has a comparative advantage relative to Russia in producing cars, and France has a comparative advantage relative to Japan in producing wine.
c. Japan has an absolute advantage relative to Russia in producing cars, and France has an absolute advantage relative to Japan in producing wine.
d. Japan has an absolute advantage relative to France in producing wine, and Russia has an absolute advantage relative to Japan in producing cars.
Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance.
COOKIE CREATIONS
Adjusted Trial Balance
December 31, 2021
Debit
Credit
Cash
$1,230
Accounts Receivable
910
Supplies
360
Prepaid Insurance
1,260
Equipment
1,200
Accumulated Depreciation—Equipment
$40
Accounts Payable
80
Salaries and Wages Payable
58
Interest Payable
15
Unearned Service Revenue
310
Notes Payable
2,100
Owner’s Capital
830
Owner’s Drawings
520
Service Revenue
4,623
Salaries and Wages Expense
1,046
Utilities Expense
130
Advertising Expense
170
Supplies Expense
1,065
Depreciation Expense
40
Insurance Expense
110
Interest Expense
15
$8,056
$8,056
Using the information in the adjusted trial balance, do the following.
(a1)
Prepare an income statement for the 2 months ended December 31, 2021. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
COOKIE CREATIONS
Income Statement
choose the accounting period
For the Year Ended December 31, 2021
select an opening name for section one
Total Expenses
enter an income statement item
total expenses
$enter a dollar amount
8056
select an opening name for section two
Total Revenues
enter an income statement item
Total revenues
$enter a dollar amount
8056
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
enter an income statement item
enter a dollar amount
select a closing name for section two
enter a total amount for section two
select a closing name for this statement
$enter a total net income or loss amount
eTextbook and Media
List of Accounts
Attempts: 0 of 3 used
(a2)
(a3)
(b)
(c)
The preparation of the Income Statement for COOKIE CREATIONS for the year ended December 31, based on the adjusted Trial Balance, is as follows:
COOKIE CREATIONS
Income StatementFor the year ended December 31,
Service Revenue $4,623
Expenses:
Salaries and Wages Expense 1,046
Utilities Expense 130
Advertising Expense 170
Supplies Expense 1,065
Depreciation Expense 40
Insurance Expense 110
Interest Expense 15 $2,576
Net income $2,047
What is an income statement?An income statement is a financial statement that summarizes a company's revenue and expenses in order to determine the net income or loss.
Income statements are usually prepared based on the adjusted trial balance at the end of a financial period.
Data and Calculations:COOKIE CREATIONS
Adjusted Trial BalanceDecember 31, 2021
Debit Credit
Cash $1,230
Accounts Receivable 910
Supplies 360
Prepaid Insurance 1,260
Equipment 1,200
Accumulated
Depreciation—Equipment $40
Accounts Payable 80
Salaries and Wages Payable 58
Interest Payable 15
Unearned Service Revenue 310
Notes Payable 2,100
Owner’s Capital 830
Owner’s Drawings 520
Service Revenue 4,623
Salaries and Wages Expense 1,046
Utilities Expense 130
Advertising Expense 170
Supplies Expense 1,065
Depreciation Expense 40
Insurance Expense 110
Interest Expense 15
Totals $8,056 $8,056
Thus, the preparation of COOKIE CREATIONS' Income Statement shows a net income of $2,047.
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Greg got in over his head and kept buying things on his credit card that he couldn’t really afford. He ended up not being able to make payments on his card. What will happen because Greg failed to pay on his account?
Answer:
His account will be in default.
Explanation:
Defaulting on a loan means you've stopped making payments as agreed. How delinquent an account must become to be considered in default depends on the lender and the type of account.
Answer:
If you do not pay your credit card bill, you will have to pay late fees, have your interest rate increased, and it will damage your credit score.
Explanation:
Your debt could be sold to a collection agency and the collector of your debt could even sue you. You could even have your wages garnished.
3. Answer the followings.
a) What is a business?
b) What is a public sector?
c) What are public goods? Give examples.
d) What are merit goods? Give examples.
e) What are public services? Give examples.
f) Give examples of private sector organizations.
g) Give examples of the public sector organizations.
Answer:
3. a) A business is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or non-profit organizations. Business types range from limited liability companies, sole proprietorships, corporations, and partnerships.
b) Public sector, portion of the economy composed of all levels of government and government-controlled enterprises. It does not include private companies, voluntary organizations, and households.
c) In economics, a public good is a good that is both non-excludable and non-rivalrous. For such goods, users cannot be barred from accessing or using them for failing to pay for them. Also, use by one person neither prevents access of other people nor does it reduce availability to others. Examples of public goods include law enforcement, national defense, and the rule of law. Public goods also refer to more basic goods, such as access to clean air and drinking water.
d) The economics concept of a merit good, originated by Richard Musgrave, is a commodity which is judged that an individual or society should have on the basis of some concept of benefit, rather than ability and willingness to pay. Examples of merit goods include education, health care, welfare services, housing, fire protection, refuse collection and public parks. In contrast to pure public goods, merit goods could be, and indeed are, provided through the market, but not necessarily in sufficient quantities to maximise social welfare.
e) A public service is a service intended to serve all members of a community. Public services include services provided by a government to people living within its jurisdiction, either directly through public sector agencies or by financing provision of services by private businesses or voluntary organizations. Examples are the business of supplying a commodity (such as electricity or gas) or service (such as transportation) to any or all members of a community, a service rendered in the public interest, governmental employment especially : civil service.
f) Examples of organizations in the private sector include:
Sole Proprietors: Designers, Developers, Plumbers, Repairmen.Partnerships: Dentistry, Legal, Accounting, Tax.Small and Medium-sized Businesses: Retail, Hospitality, Food, Leisure, Legal Services.Large Multinationals: Apple, Tesla, Disney, Procter & Gamble, PepsiCo.g) Here are some examples of public organizations.
Education.Law enforcement.Justice.Military.Electricity.Healthcare.Public transit.Public roads.what is economic?where it's used in?
Answer:
Economics is "the social science that studies the production, distribution, and consumption of goods and services." Economics focuses on the behaviour and interactions of economic agents and how economies work.
Explanation:
internet definition ^
QUESTION 1 of 10: budget is a tool that keeps track of the amount of money you have in your budget, expressed as how much you have left :
Declining
Zone
Realistic
Sample
The budget as a financial planning tool for tracking the amount of money available for spending can be expressed as always A. declining.
What is a budget?A budget is an estimation of revenue (or income) and expenses (or expenditure) over a specified future period.
A budget is a financial guideline used by governments, businesses, and individuals to keep track of income and expenditure.
It remains an important financial planning tool to ensure that one's spending does not overrun the income.
Thus, a budget can be expressed as always A. declining, not realistic, sample, or zone.
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True or false: The free-trade doctrine was designed to encourage each country to make the best use of global resources. True false question. True False
Answer:
t
Explanation:
carbon fiber is the best solution for you and the other side tracked down to your at least a little more of your own time do not take it to the right side tracked to your body and your body is the only way
Which of the following statements are true about recession?
a. After a recession, the rate of change in government spending tends to increase, which leads to an increase in the real GDP.
b. Before a recession, the rate of change in government spending tends to decrease, which leads to an increase in the real GDP.
c. During a recession, the rate of change in government spending tends to increase, which leads to an increase in the real GDP.
d. During a recession, the rate of change in government spending tends to decrease, which leads to a decrease in the real GDP.
The TRUE statements about recession are as follows:
a. After a recession, the rate of change in government spending tends to increase, which leads to an increase in the real GDP.
c. During a recession, the rate of change in government spending tends to increase, which leads to an increase in the real GDP.
What are recessions?Recessions are significant declines in economic activities. They are felt greatly in real GDP, income, and employment.
Recessions are characterized by many business and bank failures, slow or negative growth in productive activities, and elevated unemployment.
Thus, the true statements about recessions are Options A and C.
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What are different speaking styles
Answer:
the unique way in which the information is delivered to the audience.
Explanation:
hope it is helpful
Where can you find your state specific lottery info to sell and redeem lottery tickets
Answer:
The places where you can find state-specific information about lottery information to sell, lottery tickets, redeem winning and lottery tickets are the lottery terminal handbook, and lottery vending machine.
Explanation:
Lottery Terminal Handbook is a text containing information related to the lottery Terminal (Electronic Device). This text explains all the functions of the Lottery terminal, how to print the tickets, and how to redeem wining prizes.
On the other hand, a Lottery vending machine is a specialized machine for offering and selling lottery tickets. In these machines, the buyer enters money corresponding to the value of the lottery ticket, and the machine gives him scratch-off tickets or another type of ticket.
According to the above, the information related to lottery tickets can be found in a lottery terminal handbook and a lottery vending machine.
Consider Nibbles, a very specialized brand of parakeet chow.
When its price is $16 per package, it sells 40,000 units. When its price rises to $20, it sells 30,000
units. Calculate its price elasticity of demand, carefully following all numeric directions. You will
interpret this result in the next question.
(Note: Round intermediate steps to four decimal places and your final answer to two. Enter only numbers,
a decimal point, and/or a negative sign as needed in the blank.)
Based on the amount sold at the various prices for Nibbles, the price elasticity of demand would be -1.
First find the percentage changes in price and quantity sold.
What is the percentage change in price and quantity?= (New price - Old price) / Old price
= (20 - 16) / 16
= 25%
= (New quantity - Old quantity) / Old quantity
= (30,000 - 40,000) / 40,000
= - 25%
What is the price elasticity of demand?= Change in quantity / Change in price
= - 25% / 25%
= - 1
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As a senior manager, critically discuss various examples of organisational change that Amazon would have faced since the onset of remote working. Include in your answer, some of the strategies to manage such change.
The organizational changes that companies may have faced since the beginning of remote work are related to the control and management of work, which are smaller in a remote work situation.
What are the benefits of remote work?Employees can carry out their work more comfortably, working directly from their home, which generates greater flexibility and a better quality of life.
For organizations, remote work generates lower fixed expenses with structure and displacement of employees, in addition to an increase in productivity.
Therefore, it is essential for a senior manager to assess how remote work can contribute positively to the organization, generating greater control of work through goal setting and online communication.
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In your own words, explain what opportunity cost is? Did you know about this concept? Give an example.
Answer:
A student spends three hours and $20 at the movies the night before an exam. The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop, or an alternate use of the resources (land and farm equipment).
Explanation:
The restaurant industry has _________ threat of new entrants because of _________ capital requirements.
You just won the lottery, which promises you $440,000 per year for the next 20 years. You receive the first payment today (hint: annuity due). If your discount rate is 9.00%, what is the present value of your winnings?
Answer:
You sell the money for more
Explanation:
For two straight quarters, business inventories increase at a sharp rate. This most likely indicates
In the two straight quarters, business inventories increased at a sharp rate In the usual recession, inventories build up because sales are surprisingly low. Inventories cost money, whether they are raw materials, work in progress, or finished goods.
What is Business?An innovative company or group that engages in professional activities is referred to as a business. They could be industrial, commercial, or something else. Businesses that are for-profit operate to make a profit, whereas those that are nonprofit do so to further a philanthropic cause.
The two, straight quartes That, Widespread and prolonged downturn in economic activity. A common rule of thumb is that two consecutive quarters of negative gross domestic product (GDP) growth mean recession, although more complex formulas are also used
Therefore, By most likely, This indicates sales are surprisingly low. Inventories cost money
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