The acronym for the formula to find the inflation rate, [(New Price - Original Price)/Original Price] (100) is B. NOO.
What is the inflation rate?The inflation rate is the rate of increase in prices from one period of time to the next.
In the United States, the Consumer Price Index (CPI) is often used to gauge inflation.
Thus, the acronym for the formula to find the inflation rate, [(New Price - Original Price)/Original Price] (100) is B. NOO.
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Enter the following December 31 normal balances in the first row of T-accounts below: K. Korver, Capital $18,000; K. Korver, Withdrawals $2,000; Services Revenue $33,000; Salaries Expense $25,000; and Rent Expense $3,000. (1) Post closing entries to each account's T-account. (2) Compute the ending balance of each T-account, even if the final balance is $0.
The closing entries and ending balances of the T-accounts of K. Korver are as follows:
1) Post-closing entries:
K. Korver, CapitalAccount Titles Debit Credit
Ending balance $18,000
K. Korver, Withdrawals $2,000
K. Korver, WithdrawalsAccount Titles Debit Credit
Ending balance $2,000
K. Korver, Capital $2,000
Services RevenueAccount Titles Debit Credit
Ending balance $33,000
Income Statement $33,000
Salaries ExpenseAccount Titles Debit Credit
Ending balance $25,000
Income Statement $25,000
Rent ExpenseAccount Titles Debit Credit
Ending balance $3,000
Income Statement $3,000
What are post-closing entries:Post-closing entries are the ledger postings made to the income summary with regard to revenues, expenses, retained earnings, and dividends, or withdrawals.
2) The computation of the final balances of the T-accounts is as follows:
K. Korver, CapitalAccount Titles Debit Credit
Normal balance $18,000
K. Korver, Withdrawals 2,000
Ending balance $16,000
K. Korver, WithdrawalsAccount Titles Debit Credit
Normal balance $2,000
K. Korver, Capital $2,000
Services RevenueAccount Titles Debit Credit
Normal balance $33,000
Income Statement $33,000
Ending balance $0
Salaries ExpenseAccount Titles Debit Credit
Normal balance $25,000
Income Statement $25,000
Ending balance $0
Rent ExpenseAccount Titles Debit Credit
Normal balance $3,000
Income Statement $3,000
Ending balance $0
Thus, the post-closing entries and the ending balances of the T-accounts have been entered and computed respectively.
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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 ^
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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The restaurant industry has _________ threat of new entrants because of _________ capital requirements.
What will be the total cost of Marla's ARM If the term of the loan were 25 or 20 years Instead of 30? Use the variable-rate loan calculator to find the answers. Write them In the spaces below.
Compare the values you just obtained with the total cost of Marla's 30-year variable-rate mortgage. Write down your observations and conclusions.
Answer:
25 years= $410,601.07
20 years= $305,131.67
Explanation:
Answer:
25 years- $410,601.07
20 years- $350,131.67
Explanation:
For a report focus ob the needs of typical business readers today, it needs to be trustworthy, contain decision-related, and?
A. Use complicated language to impress the readers
B. Require a password to open the report document
C. Make it easy for readers to get the point quickly
D. Put the summary at the end of the discussion
Answer:
C
Explanation:
Business readers do not have a lot of time to read. So complicated language, password and summary at the end are not helpful. The right answer is C. Make it easy for readers to get the point quickly.
Answer:
i did it
Explanation:
Identical products in fixed quantities can be produced in....
A . Job Production
B . Batch Production
C . Flow Production
D . Lean Production
Identical products in fixed quantities can be produced in B . Batch Production.
What is batch production?Batch production is a production method whereby a group of identical products is produced at the same time.
The batch size and frequency are predetermined. As a batch, units go through the different stages of the manufacturing process together.
The idea of batch production can be differentiated from Job Production, Flow or Continuous Production, and Lean Production by the emphasis that each production method places.
Thus, when identical products are produced in fixed quantities, they are described as undergoing Batch Production.
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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.
which investment ideas is simple
Preston, founder and president of a successful software development company, took a look around the office at his 15 employees. Rent was high in the city, and most of their clients were spread out over the United States. Preston and his business partner have strategically decided to give up their office and to adopt __________, so his employees can work remotely via computer. Multiple Choice interfirm communication teleportation just-in-time systems telecommuting
Preston and his business partner have strategically decided to give up their office and to adopt telecommuting, so his employees can work remotely via computer.
What is telecommuting?Telecommuting can be defined as a communication channel that enables company employees to work remotely through the use of:
Computer systemVideo applicationmobile phoneEmail among othersBased on the given scenario Preston and his partner want to make use of telecommuting so as to make it possible for their employee to work remotely or to work outside their workplace.
Inconclusion they have decided to give up their office and to adopt telecommuting, so his employees can work remotely via computer.
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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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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.
1- Describe the four directions of communication with examples. (5 Marks)
Answer:
I don't have any idea , sorry i need to save points
Answer:
Downward communication:
Communication in the first place, flows downwards. That is why, traditionally this direction has been highlighted or emphasized. It is based on the assumption that the people working at higher levels have the authority to communicate to the people working at lower levels.
Upward communication:
The function of upward communication is to send information, suggestions, complaints and grievances of the lower level workers to the managers above. It is, therefore, more participative in nature.
Lateral or horizontal communication:
This type of communication can be seen taking place between persons operating at the same level or working under the same executive. Functional managers operating at the same level, in different departments, through their communication, present a good example of lateral communication.
Diagonal or crosswise communication:
Diagonal or crosswise communication takes place when people working at the same level interact with those working at a higher or lower-level of organizational hierarchy and across the boundaries of their reporting relationships.
If a sale is made to a customer on credit, the account credited is?
Revenue
Account receivable
Supplies
Equipment
Answer:Account receivable
Explanation:
An electronic card that is derectly connected to a checking account is known as a
Answer:
debit card
Explanation:
a checking account is also known as a savings account
With reference to relevant authority, indicate whether a partnership is recognised as a separate entity apart from the partners in terms of South African law.
According to the laws of South Africa, a partnership is not recognized as a separate entity apart from the partners.
What is a partnership?A partnership is a business relationship that exists among partners who come together for a business mission: to make and share profits and losses.
A partnership as a business structure depends on the partnership agreement. In the absence of an agreement, the general partnership rules are applied when conflicts arise.
Thus, according to the laws of South Africa, a partnership is not recognized as a separate entity apart from the partners.
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A maginal revenue product of labor for a firm is?
Answer:
The marginal revenue product of labor (MRPL) is the additional amount of revenue a firm can generate by hiring one additional employee. It is found by multiplying the marginal product of labor (MPL) – the amount of additional output one additional worker can generate.
Explanation:
by the price of output. If an employee of a customer support call center can take eight calls an hour (the MPL) and each call earns the company $3, then the MRPL is $24.
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.
"In my opinion, we ought to stop making our own drums and accept that outside supplier's offer," said Wim Niewindt, m
anaging director of Antilles Refining, N.V., of Aruba. "At a price of 96 florins per drum, we would be paying 10 florins less than it costs us to manufacture the drums in our own plant. (The currency in Aruba is the florin, denoted by Afl.) Since we use 220,000 drums a year, we would save 2,200,000 florins on an annual basis." Antilles Refining's present cost to manufacture one drum follows (based on 220,000 drums per year):
1-a. The calculation of the total costs and costs per drum assuming 220,000 drums are needed each year by Antilles Refining is as follows:
Per Unit Costs Total Costs (220,000)
Make Buy Make Buy
Outside supplier's price Afl 196.00 Afl 43,120,000
Direct materials Afl 30.70 Afl 6,754,000
Direct labor 15.40 3,388,000
Variable overhead 9.10 2,002,000
Total variable costs Afl 55.20 Afl 196.00 Afl 12,144,000 Afl 43,120,000
Depreciation expense Afl 495,000 495,000
Supervision cost 2,530,000 2,530,000
Total relevant costs Afl 15,169,000 Afl 43,120,000
1-b. The company should make the drums.
2-a. The calculation of the total costs and costs per drum assuming 250,000 drums are needed each year by Antilles Refining is as follows:
Per Unit Costs Total Costs (250,000)
Make Buy Make Buy
Outside supplier's price Afl 196.00 Afl 49,000,000
Direct materials Afl 30.70 Afl 7,675,000
Direct labor 15.40 3,850,000
Variable overhead 9.10 2,275,000
Total variable costs Afl 55.20 Afl 196.00 Afl 13,800,000 Afl 49,000,000
Depreciation expense Afl 495,000 495,000
Supervision cost 2,875,000 2,875,000
Total relevant costs Afl 17,170,000 Afl 49,000,000
2-b. The company should make the drums.
2-c. The calculation of the total costs and costs per drum assuming 2,530,000 drums are needed each year by Antilles Refining is as follows:
Per Unit Costs Total Costs (2,530,000)
Make Buy Make Buy
Outside supplier's price Afl 196.00 Afl 495,880,000
Direct materials Afl 30.70 Afl 77,671,000
Direct labor 15.40 38,962,000
Variable overhead 9.10 23,023000
Total variable costs Afl 55.20 Afl 196.00 Afl 139,656,000 Afl 495,880,000
Depreciation expense Afl 495,000 495,000
Supervision cost 2,875,000 29,095,000
Total relevant costs Afl 169,246,000 Afl 495,880,000
2-d. The company should make the drums.
What is a buy-or-make decision?A buy-or-make decision involves the choice of alternatives depending on relevant costs (avoidable costs).
Question Requirements:Required: 1-a. Calculate the total costs and costs per drum under the two alternatives. Assume that 220,000 drums are needed each year. (Round "Cost Per Drum" answers to 2 decimal places.)
1-b. Should the company make or buy based on analysis in part (1-a)
2-a. Calculate the total costs and costs per drum under the two alternatives. Assume that 250,000 drums are needed each year. (Round "Cost Per Drum" answers to 2 decimal places.)
2-b. Should the company make or buy based on analysis in part (2-a)?
2-c. Calculate the total costs and costs per drum under the two alternatives. Assume that 2,530,000 drums are needed each year. (Round "Cost Per Drum" answers to 2 decimal places.)
2-d. Should the company make or buy based on analysis in part (2-c)?
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Match each term in column A with it’s definition in column B Column A 1. barter 2. money 3. currency 4. monetary unit 5. depositor 6. Bureau of the Mint 7. electronic funds transfer (EFT) 8. Federal Revenue System Column B a. The use of computers to receive and make payments. b. The standard unit of value of a country’s currency. c. A person who places money in an account in a bank for safety and earnings. d. Anything generally excepted in payment for goods and services. e. Money that is easy to carry because it is paper. g. An organization that regulates the nations banks and its money supply. h. An organization that manufactures US coins.
Matching each monetary term in Colum A with its definition in Column B is as follows:
Column A Column B
(Monetary Terms) (Definitions of the monetary terms)
1. Barter f. the exchange of goods for goods.
2. Money d. Anything generally excepted in
payment for goods and services.
3. Currency e. Money that is easy to carry because it
is paper.
4. Monetary unit b. The standard unit of value of a
country’s currency.
5. Depositor c. A person who places money in an
account in a bank for safety and earnings.
6. Bureau of the Mint h. An organization that manufactures the
US coins.
7. Electronic funds transfer (EFT) a. The use of computers to receive and
make payments.
8. Federal Revenue System g. An organization that regulates the
nation's banks and its money supply.
What is a monetary term?A monetary term is a description of economic knowledge or activity involving the use of money.
Examples of other monetary terms are:
InflationPriceTime value of moneyPurchasing powerProfitWages.Thus, the monetary terms have been matched correctly with their definitions.
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The interest on a $5,400, 3%, 45-day note is ______________.
a. $2.03
b. $19.97
c. $20.25
d. $202.50
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:
Scott's Cycles sells merchandise on credit terms of 2/15, n/30. A sale invoiced at $1,500 (cost of sales $975) was made to Shannon Allen on February 1. The company uses the gross method of recording sales discounts.
Required:
1. Give the journal entry to record the credit sale. Assume use of the perpetual inventory system.
2. Give the journal entry, assuming that the account was collected in full on February 9.
3. Give the journal entry, assuming instead that the account was collected in full on March 2. On March 4, the company purchased bicycles and accessories from a supplier on credit, invoiced at $9,000; the terms were 3/10, n/30. The company uses the gross method to record purchases.
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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When the price of cheeseburgers is equal to $6, the quantity demanded of cheeseburger is equal to 1,200 and the quantity supplied is equal to 700. The price per cheeseburger will...
A)remain constant because the market is in equilibrium.
B)decrease because there is an excess demand in the market.
C)increase because there is an excess demand in the market.
D)decrease because there is an excess supply in the market.
The quantity supplied of cheeseburger is less than the quantity demanded. Therefore, the price will C. increase because there is an excess demand in the market.
What is supply?Supply simply means the number or goods and services that a supplier is willing to sell at a particular price and time.
In this case, the quantity supplied of cheeseburger is less than the quantity demanded. Therefore, the price will increase.
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what is the importance of feedback? in your own words
Answer: Feedback is a tool that can help people evaluate themselves and their work and also how others perceive them. While employees and students need to receive feedback, it's also essential for leaders who believe in growth to ask for an evaluation, to give an example, and be an inspiration for them.
Explanation:
Describe how office structure and activity may be organized according to the size and nature of the business?
Explanation:
AND THAN PROPERLY HANDLE YOUR BUSINESS. AND TALK PROPERLY TO YOUR EMPLOYEES
To be successful, organizations must be designed and structured in a way that allows them to achieve their goals, depending on the size and nature of the business.
What is business?Business is the practise of earning a living or earning money by producing, purchasing, and selling goods. It is also any profit-making activity or enterprise.
Business is extremely important in the lives. First, they produce goods and services to meet our needs and desires. After that, they recruit households as labour and compensate them with wages, salaries, and benefits. As a result, it becomes a source of income for them, which they can use to support their family.
Therefore, Organizations must be designed and structured in such a way that they can achieve their goals, depending on the size and nature of the business.
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#SPJ2
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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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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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.
what are the core secret to success
Answer:
#Secret 1 – Be Passionate About Goals.#secret 2 – Set Your Mind On Positive Mode.#Secret 3 – Create Your Own Strategies.#Secret 4 – Value Your Time.#Secret 5 – Make Your Mission Enthusiastic.
Explanation:
This can help you to be good.