Increase in unearned fees items would be added to net income when reporting cash flows from operating activities, using the indirect method.
Unearned revenue, also known as money that has been created but not yet been received, is not shown on the income statement and is seen as a liability. A liability is listed for unearned net income on a company's balance statement. The revenue is categorised as a liability because it represents cash flows or services that a customer is still owing to pay for but has not yet been received. A corporation's retained earnings, which are a component of stockholders' equity, rise when its net income is positive. Unearned income, commonly referred to as deferred revenue, is the term used to describe advance payments a business receives for goods or services that will be provided or rendered in the future.
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give an example with two players where each player has 4 strategies and there are no strictly dominant or strictly dominated strategies
One example of two players with 4 strategies each, where there are no strictly dominant or strictly dominated strategies is a game of rock-paper-scissors-lizard-spock.
Player 1 can choose between 5 strategies: rock, paper, scissors, lizard, and Spock.
Player 2 can also choose between the same 5 strategies: rock, paper, scissors, lizard, and Spock.
In this game, none of the strategies strictly dominate or are strictly dominated by another strategy.
Each strategy has a unique relationship with the other strategies; for example, rock crushes scissors and lizard, but loses to paper and Spock.
This means that the outcome of the game is not determined by one strategy being superior to the others, but rather by the specific combination of strategies chosen by the two players.
In this game, the best strategy is to be aware of the other player's strategy and adjust accordingly.
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FILL THE BLANK suppose real gdp is $90 billion and natural real gdp is $120 billion. to eliminate this ______ gap, keynesian theory indicates that government should
Suppose real GDP is $90 billion and natural real gdp is $120 billion. to eliminate this recessionary gap, Keynesian theory indicates that government should increase government purchases and decrease taxes.
When measured in real terms, the GDP gap is defined as the difference between potential GDP and actual GDP. When the economy is in a slump, the GDP gap is positive, indicating that the economy is performing below its potential (and less than full employment). When the economy suffers an inflationary boom, the GDP gap is negative, indicating that the economy is performing better than it could (and more than full employment).
A recessionary gap occurs when the aggregate demand and short-run aggregate supply curves overlap below potential output. When they cross above potential output, the economy suffers from an inflationary gap.
Keynesian theory says that because the level of economic activity is determined by aggregate demand, yet aggregate demand cannot be relied on to remain at potential real GDP, the economy will experience recessions and inflationary booms. This cycle can be characterized by oscillations in positive and negative GDP gaps.
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Please answer the question
Strong sales or a lack of inventory that would allow for such sales at that rate are implied by a high ratio. An inventory surplus, sluggish market demand, or weak sales are all indicated by a low ratio, on the other hand.
What occurs if the inventory turnover rate is too high?When things are selling quickly and there are strong sales during a certain time frame, the inventory turnover ratio is typically high. To the contrary, a high inventory ratio could necessitate frequent restocking, which might result in stockouts.The turnover ratio also informs a lot about the forecasting, inventory control, and sales and marketing skills of a corporation. Strong sales or a lack of inventory that would allow for such sales at that rate are implied by a high ratio. An inventory surplus, sluggish market demand, or weak sales are all indicated by a low ratio, on the other hand.The complete question is,
How much inventory turnover occurs? The impact of a high inventory turnover during the Christmas shopping season should be discussed.
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are to measure business activities of a company and to communicate information about those activities to investors and creditors and other outside users for decision-making purposes.
Financial statements provide a snapshot of a company's financial position at a given point in time and provide information about the company's assets, liabilities, and equity.
Financial statements also provide information about a company's income, expenses, and cash flows. This information is used by investors and creditors to assess the financial health of a company and to make decisions about whether to invest in or lend money to the company. Financial statements also provide information to other outside users, such as regulators, customers, and suppliers, which can be used to make decisions about the company. Additionally, financial statements are used to measure the performance of a company over time. This is done by comparing the financial statements of different periods to identify trends in the company's financial performance. For example, a company's income statement can be used to compare the company's revenue and expenses over time to identify trends in the company's profitability. Similarly, a company's balance sheet can be used to compare the company's assets and liabilities over time to identify trends in the company's financial position. By analyzing financial statements over time, investors and creditors can make more informed decisions about whether to invest in or lend money to the company.
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1. complete the t-accounts for each of the three inventory accounts using the data provided in the above table. (use cells a4 to b19, as well as any yellow input cells, to complete this question.) raw materials inventory beginning ending work in process inventory beginning ending finished goods inventory beginning ending
The cost of goods that are being produced but aren't yet finished is recorded in the work-in-process inventory account.
What three sorts of inventory are there?The three different categories of inventory are raw materials, finished commodities, and work-in-progress.On a company's balance sheet, inventory is reported and recorded at cost. When an inventory item is sold, its cost is deducted from stock and recorded as the cost of goods sold on the company's income statement. The greatest expense included on the revenue statement is probably the cost of goods sold.The cost of goods that are being produced but aren't yet finished is recorded in the work-in-process inventory account. The expenses of items that are completed and prepared for sale are recorded in the finished goods inventory account.
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the following trial balance for magill company has errors that cause it to be out of balance. magill company unadjusted trial balance december 31 debit credit cash $20,000 inventory $85,000 accounts receivable 30,000 accounts payable 12,000 common stock 40,000 retained earnings 58,000 sales revenue 100,000 cost of goods sold 60,000 selling expenses 15,000 totals $225,000 $195,00
Due to the mismatch between the debits and credits. A trial balance should always balance, which means that all of the debits and all of the credits should add up to zero. This trial balance's debits ($225,000) and credits ($195,000) do not add up to $225,000. This indicates that a mistake has to be found and fixed in the accounting records.
Reviewing each individual account and transaction in order to search for any inconsistencies or missing data will help you locate the problem. For instance, omitting an entry in one of the accounts, such as a debit or credit, is a frequent error that might result in the trial balance being out of balance. A transposition error, such as typing a number wrongly, is another cause. Once the issue has been found, it has to be fixed, and then the trial balance needs to be run again to make sure the debits and credits balance.
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Marco works in the human relations department of his company. Which of the following are problem-solving pieces he might write? Select all that apply.
*an e-mail explaining how flexible hours will improve employee morale
*a memo explaining how to reduce the company's high medical insurance costs
A document outlining how to lower the company's excessive medical insurance expenses, or an email outlining how flexible hours can boost employee morale.
Rent, utilities, pay, salary, maintenance, depreciation, insurance, and the cost of items sold are a few examples of expenses. The costs of basic life are those required for day-to-day existence, as the term implies. Housing, food, clothing, transportation, healthcare, and pertinent miscellaneous fees are only a few of the major areas that fall under the heading of "basic living expenses," as the term implies. Financial expenses generally fall into one of three categories: fixed, variable, or periodic. Expenses like office rent or personnel or your own automobile lease payments are examples of fixed expenses that don't alter for a long time. Monthly fluctuations in variable expenditures are common. such meals and entertainment, or utilities.
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an overview of financial management and the financial environment: forms of business organizationthe basic concepts of financial management are the same for all businesses, regardless of how they are organized. however, a firm's legal structure affects its operations. the main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (llcs) and limited liability partnerships (llps). in terms of numbers, most businesses ar
The majority of businesses are sole proprietorships, but the majority are corporations based on dollar sales. Most of the time, businesses start out as sole proprietorships and become corporations when their growth causes problems.
What is meant by Sole Proprietorship here?A sole proprietor is a person who owns an unincorporated business on their own. However, if you treat a domestic limited liability company (LLC) as a corporation, you will not be treated as a sole proprietor even if you are the LLC's sole member.
A local grocery store, clothing store, artist, freelance writer, IT consultant, freelance graphic designer, etc., are examples of small businesses. that are an illustration of a sole proprietor.
No distinction is made between the business and its owner in a non-incorporated, unregistered sole proprietorship. The sole proprietor is responsible for the company's debts, losses, and liabilities in addition to receiving all profits.
What are the three advantages of being your own boss?
One advantage of being a sole proprietor is:
You have control.You keep all of the money.The cost of starting is low.You keep everything to yourself.Starting and running a business on your own is simple.It is simple to liquidate your business and alter your legal structure later if circumstances change.To know more about Sole Proprietorship, visit:
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Morrison Company experienced a business event that had the following effect on its accounting equation. Which of the events would have caused this effect?
Every business transaction that is to be considered for accounting, i.e. every accounting transaction, has an influence on the basic accounting equation. Each transaction modifies the expressions that comprise the equation in such a way that the accounting equation is satisfied after each such modification.
What effect does the owner's investment have on the accounting equation?Here are some instances of how the accounting equation remains balanced: An owner's investment in the firm increases the company's assets as well as the owner's equity. When a firm borrows money from a bank, its assets grow while its obligations grow.
This boosts the left and right sides of the accounting equation by the same amount, resulting in a balance.
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A federal statute prohibits the construction of nuclear energy plants without a license from the Federal Nuclear Plant Siting Commission. The statute provides that the Commission may issue a license authorizing the construction of a proposed nuclear energy plant 30 days after the Commission makes a finding that the plant will comply with specified standards of safety, technological and commercial feasibility, and public convenience. In a severable provision, the Commission's enabling statute also provides that the Congress, by simple majorities in each house, may veto the issuance of a particular license by the Commission if such a veto occurs within 30 days following the required Commission finding. Early last year, the Commission found that a particular energy company met all statutory requirements and, therefore, voted to issue the energy company a license authorizing it to construct a nuclear energy plant. Because they believed that the issuance of a license to the energy company was not in accord with the applicable statutory criteria, a majority of each of the two houses of Congress voted, within the specified 30-day period, to veto the license. On the basis of that veto, the Commission refused to issue the license. Subsequently, the energy company sued the Commission in an appropriate federal district court, challenging the constitutionality of the Commission's refusal to issue the license. In this suit, the court should hold the congressional veto of the license of the energy company to be
A: invalid, because any determination by Congress that particular agency action does not satisfy statutory criteria violates Article III, Section 1 of the Constitution because it constitutes the performance of a judicial function by the legislative branch.
B: invalid, because Article I, Section 7 of the Constitution has been interpreted to mean that any action of Congress purporting to alter the legal rights of persons outside of the legislative branch must be presented to the President for his signature or veto.
C: valid, because Congress has authority under the commerce clause to regulate the construction of nuclear energy plants.
D: valid, because there is a compelling national interest in the close congressional supervision of nuclear plant siting in light of the grave dangers to the public health and safety that are associated with the operation of such plants.
D: valid, because there is a compelling national interest in the close congressional supervision of nuclear plant siting in light of the grave dangers to the public health and safety that are associated with the operation of such plants.
What is nuclear plant?A nuclear power plant is a facility that uses nuclear reactions to generate electricity. These plants use a process called nuclear fission, which involves the splitting of atoms, to release energy in the form of heat. This heat is then used to create steam, which powers a turbine generator to produce electricity. Despite these concerns, nuclear power plants still play a significant role in providing electricity to the world, with the Bulletin of the Atomic Scientists stating that nuclear power continues to be a viable energy source in the fight against climate change.To learn more about nuclear plant refer:
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a regressive tax rate structure is defined as a tax in which the average tax rate decreases as the tax base increases.
A regressive tax is one in which the average tax burden reduces as income increases. Low-income taxpayers have a disproportionate amount of the tax burden, whereas middle- and upper-income .
regressive tax taxpayers bear just a little fraction. IDRs (International Depository Receipts): It is a financial instrument denominated in Indian rupees and issued by a Domestic Depository (custodian of securities registered with SEBI) against the issuing company's underlying equity. A regressive tax is one that puts a lower burden (in terms of resources) on those who are wealthy. A progressive tax, on the other hand, burdens the affluent more heavily. Any adjustment to the tax system that makes it less progressive is also known as regressive. A regressive tax is one that is levied evenly and imposes a higher burden on the poor.against the issuing company's underlying equity. A regressive tax is one that puts a lower burden (in terms of resources) on those who are wealthy. A progressive tax,
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we can leverage this model to tell the company even more information. of course the company is interested in demand, but what they are really interested in is revenue. how much money they will be bringing in. if they lower the selling price, they might get more demand but they bring in less money per shirt. they need to know how this will affect their revenue. revenue
The firm may use this model to make data-driven decisions that will help it maximize revenue and expand. It is true that this paradigm may be used to give the business additional data.
The business may make educated judgments about its pricing strategy, production levels, and other aspects that impact revenue by examining the link between demand and revenue. This data may be used by the business to optimize pricing, identify the most lucrative product categories, and make other tactical choices that will eventually boost sales. The model may also be used to forecast future sales based on changes in demand, enabling the business to prepare for development and expansion in the future.
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on october 8, blooming landscape inc. rented a piece of machinery for the day for $2,000 to be billed later. on october 20, blooming landscape inc. received a bill for the rental and paid the bill. on october 20, how are the following blooming landscape inc. accounts effected:
On October 20, when Blooming Landscape Inc. received and paid the bill for the machinery rental, the accounts payable and cash accounts were decreased, and the rental expense account was increased.
On October 8, when the machinery was rented, Blooming Landscape Inc.'s accounts payable account would have increased by $2,000 as they were obligated to pay for the rental in the future.
On October 20, when the bill was received and paid, the accounts payable account would decrease by $2,000 as the obligation to pay has been fulfilled.
The cash account would also decrease by $2,000 as the company paid the bill.
The rental expense account would increase by $2,000 as it is now recorded as an expense for the company.
In summary, the accounts payable and cash accounts were decreased while the rental expense account was increased on October 20 when Blooming Landscape Inc. received and paid the bill for the machinery rental.
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hypervalent iodine as a terminal oxidant in wacker-type oxidation of terminal olefins to methyl ketones
"Hypervalent Iodine as a Terminal Oxidant in Wacker-Type Oxidation of Terminal Olefins to Methyl Ketones" is an article written by Dipali A Chaudhari and Rodney A Fernandes.
Dipali A Chaudhari and Rodney A Fernandes recently published a paper entitled Hypervalent Iodine as a Terminal Oxidant in Wacker-Type Oxidation of Terminal Olefins to Methyl Ketones. In the article, the authors explore the possibility of using hypervalent iodine as a terminal oxidant in the Wacker-type oxidation of terminal olefins to methyl ketones.
The article provides detailed information on the method, reactivity, and limitations of using hypervalent iodine as a terminal oxidant. This paper is an excellent source of information for researchers in the field of organic chemistry.
--------The given question is incomplete, the complete question is:
"What is 'Hypervalent Iodine as a Terminal Oxidant in Wacker-Type Oxidation of Terminal Olefins to Methyl Ketones'?"--------
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fenton incorporated plans to do business with a company located in the leone republic, a common law country. the companies have agreed to draft the business contract in the leone republic. since the contract will be drafted under a common law framework, it will be multiple choice somewhat general since many issues are already covered in the law. less expensive than a contract drafted under a civil law system. short. very detailed with all contingencies spelled out. easy to draft.
The contract will be prepared within a common law framework and will be based on custom, precedent, and common law.
When contracts are formed in a common law system, judges have the flexibility to interpret disagreements based on the present situation. Court precedent dictates how cases are resolved in a common law system. Legal precedents are established by case law. This provision forbids employees from divulging any trade secrets or other private information. A clause in a contract is enforceable under state and federal law together with the rest of the contract. A sort of agreement known as an informal contract can be upheld without the necessity for any kind of legal action.
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quiz which of these is a problem that occurs with data mining? computers are not powerful enough to process most datasets. privacy concerns may cause negative reactions to data mining efforts. setup costs may be too high. data mining activities may not be well coordinated for effective results.
The concept is Data mining, the process of extracting patterns in large data sets. The answer is, data mining activities may not be well coordinated for effective results.
Data mining is most commonly defined as the process of using computers and automation to find patterns and trends in large amounts of data and convert those insights into business insights and predictions.
Data mining is the process of understanding data by cleaning raw data, finding models, building models, and testing those models. It includes statistics, machine learning, and database systems.
Data mining is a way to gain insights from vast amounts of data. The current reality of the information is noisy, incomplete, and heterogeneous. Large amounts of data are regularly unreliable or inaccurate.
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which of the following statements are generally true of people with high emotional intelligence? (choose every correct answer.)
The make up a majority of the high performers in the workplace is generally true of people with high emotional intelligence.
What is emotional intelligence?Emotional intelligence is most commonly referred to as the ability to perceive, use, understand, manage and process emotions. Emotional Intelligence (EI) is the ability to manage your emotions and understand the emotions of those around you. Emotional Intelligence has five key elements. Self-confidence, self-regulation, motivation, empathy and social skills. Emotional intelligence is the ability to recognize and regulate your own emotions and understand the emotions of others. High EQ builds relationships, reduces team stress, resolves conflicts, and increases job satisfaction. Emotional intelligence builds better working relationships, adds value to your role, collaborates with others to solve problems, drives new ideas, and sets you and your organization up for success. It's a skill that gives you confidence.To learn more about emotional intelligence from the given link :
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Valley Spa purchased $9,600 in plumbing components from Tubman Co. Valley Spa signed a 45-day, 10% promissory note for $9,600. If the note is dishonored, what is the amount due on the note? (Use 360 days a year.)
If Valley Spa purchased $9,600 in plumbing components from Tubman Co. the amount due on the note is $9,720.
How to find the amount due on the note?Interest = Principal x Stated Rate x Period of the Note
Interest = $9,600 x 10% x ( 45 days / 360 )
Interest = $120
Accounts Receivable = Principal Amount Owed + Interest Owed
Accounts Receivable = $9,600+ $120
Accounts Receivable = $9,720
Debit Accounts Receivable-Valley Spa $9,720
Credit Interest Revenue $120
Credit Notes Receivable $9,600
Therefore the amount is $9,720
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question mode fill in the blank question fill in the blank question. a company incurred the following costs: selling and administrative expenses: $45,000; direct materials: $15,000; income tax expense: $10,000; direct labor: $30,000; factory overhead: $5,000. total manufacturing costs reported on the schedule of cost of goods manufactured are $ .
Total manufacturing costs reported on the schedule of cost of goods manufactured are calculated by adding together the direct materials, direct labor, and factory overhead costs. In this case, the total manufacturing costs are $15,000 + $30,000 + $5,000 = $60,000.
Total manufacturing costs refer to the costs associated with producing a product or service. These costs include direct materials, direct labor, and factory overhead. Direct materials are the raw materials used in the production process. Direct labor is the cost of labor used in the production process. Factory overhead is the cost of indirect materials, indirect labor, and other costs associated with the production process. Income tax expense is the amount of taxes paid by the company. Selling and administrative expenses are the costs associated with selling and administering the product or service. These costs include advertising, marketing, and other costs associated with selling the product or service.
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when matters of life and property are at stake, not knowing should be equivalent to we have a problem
The statement 'when matters of life and property are at stake, not knowing should be equivalent to we have a problem' should be defended as not knowing matters related to life can cause serious consequences.
When it comes to our lives and the things we own, not knowing something should be seen as a problem.
Ignorance may be bliss in some cases, but when it comes to safety, security and financial wellbeing, matters it is essential that we are aware of the risks and potential dangers. When it comes to our lives and property possessions, we should never be left in the dark.
Taking the time to learn the facts, educate ourselves and make informed decisions is the best way to ensure our lives and property remain safe and protected. Knowing what to do in any given situation is the best way to avoid any potential disasters.
Being aware of the risks and taking the necessary steps to mitigate them is the only way to guarantee our wellbeing.
Although a part of your question is missing, you might be referring to this statement:
When matters of life and property are at stake, not knowing should be equivalent to we have a problem. Attack or defend the statement.
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three hurricanes, combined with the already high real-estate prices, have made people reconsider whether to retire to florida. the cost of homeownership has increased due to stricter building codes. the influx of retirees is not expected to change because the baby boom generation is approaching retirement age and florida has long attracted many retirees. which of the following factors is tending to move the demand curve for florida housing to the right?
The demand curve will shift to the right due to the ageing of the baby boomers, and increasing the number of people who are retiring
In the given case, after the hurricane people are reconsidering their options. Moreover, the city of Florida is an attraction to retired people. The demand curve for homes is probably shifting to the right due to the ageing of the baby boomers and the inflow of retirees relocating to Florida. The baby boom generation is about to retire, and Florida has always been a well-liked retirement location.
However, recent hurricanes and Florida's already high real estate costs may make some retirees rethink their choice to settle there. Stricter building regulations may also raise homeownership costs, reducing the state's housing demand. As a result, these variables are anticipated to have a net positive impact on Florida's housing demand, which will cause the demand curve to move to the right.
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multiple choice question referring to the graph, suppose the demand for bottled water decreases by 400 bottles at each price. what are the new equilibrium price and quantity in this market?
Increase Both the demand and the supply curves for insulation will shift to the right.The equilibrium quantity will increase relative to its initial level.
An increase in demand shifts the demand curve rightward,and a decrease in supply shifts the supply curve leftward.If demand decreases and supply decreases then equilibrium quantity goes down,and the equilibrium price could go up,down,or stay the same.When the decrease in demand is greater than the increase in supply,the relative shift of demand curve is proportionately more than the supply curve.Effectively,both the equilibrium quantity and price fall.Here,the leftward shift of the demand curve is less than the rightward shift of the supply curve conversely,when the price rises, the quantity demanded decreases. For example, when the price rises from $1.00 to $1.50 a bottle,the quantity demanded decreases from the growth in per capita consumption of automatic packaged bottled water in India today can be attributed to several factors, including increased health consciousness,poor tap water quality, increased tourism, and the accessibility of bottle.
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a corporation is the owner and beneficiary of the key person life policy. if the corporation collects the policy benefit, then
According to Internal Revenue Code Section 101(j), death benefits paid under a "employer-owned life insurance contract" are only tax-free if the employee who is covered is duly informed and grants written consent to be insured before the contract is issued.
Why did you use the word "contract"?
An agreement between parties that produces mutually binding legal obligations is known as a contract. Mutual assent, expressed through a contract-compliant offer, and a pledge made to another party stating whether they will or won't carry out a specific activity in the future are fundamental elements required for the agreement to be a valid offer and acceptance, adequate consideration, capacity, and legality. For instance, in exchange for your automobile, I'll offer you $3,500. Most of the time, it
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Ending Stockholders' Equity (for example, Common Stock and Retained Earnings) flows from the ________.
balance sheet to the statement of stockholders’ equity
statement of stockholders’ equity to the balance sheet
income statement to the balance sheet
Ending Stockholders' Equity flows from the statement of stockholders’ equity to the balance sheet.
One who holds at least one share of a company's capital stock is referred to as a stockholder, shareholder, or stockholder. The majority of the owners of a company are its stockholders, who often benefit from its success in the form of rising stock prices. A person or legal organisation that is officially recognised by a corporation as the owner of shares of the share capital of a public or private corporation is referred to as a shareholder. A corporation's members may be referred to as shareholders. Common shareholder is a term used to describe a person who owns shares of common stock in a firm. The corporation's board of directors is chosen by the company's common investors, who also have a say in some decisions such corporate mergers.
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suppose a population grows approximately 3% per year. if the population was 30,000,000 people in 2015,
In a situation wherein the population of a country is 30,000,000, and it grows at the rate of 3 percent every year, then it will be 30,900,000 in the next year.
The increase in population can be regarded as a concept wherein there is a situation of surplus growth in the rate of population in a particular geographical region. The calculation of the growth rate of population in the above condition, is as shown below,
Total Population in 2016 = Population in 2015 + Growth Rate
Total Population in 2016 = 30,000,000 + 3%
Total Population in 2016 = 30,000,000 + 900000
Total Population in 2016 = 30,900,000
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Complete question
Suppose a population grows approximately 3% per year. If the population was 30,000,000 people in 2015, then what will be the total population in the year 2016?
When a nation has a population of 30,000,000 and it increases by 3% annually, the population will reach 30,900,000 in the next year.
The notion of population growth may be thought of as a situation where the rate of population growth in a certain geographic area is growing faster than average. Below is a computation of the population growth rate under the aforementioned circumstances.
The population in 2016 equals the population in 2015 plus the growth rate.
In 2016's total population is 30,000,000 plus 3%.
In 2016's total population is 30,000,000 plus 900000.
30, 900,000 was the total population in 2016.
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Note: The complete question would be as bellow,
The current (2015) population of Eugene is approximately If the population growth rate remains at 3% per year, approximately when will the city of Eugene have 30,000,000 people?
Select the four criteria used to determine if an item is recognized in the financial statements according to SFAC 5.
Relevance
Measurability
Definition
Reliability
Assets, liabilities, net assets, and equity, as well as income and expenses, will all be included in the financial statements. The goal of financial statements is to give the management of an organization meaningful data for planning, managing, analyzing, and making decisions.
Financial statements contain details about a company's operations and financial performance. Financial accounts are frequently audited by government entities, accounting firms, and others to ensure their accuracy and for tax, financing, or investment purposes. For-profit companies' four basic financial statements are the balance sheet, income statement, cash flow statement, and statement of changes in equity. Nonprofit organizations' financial statements are similar but distinct. The income statement of a company is the most important financial document to include when requesting financing because it shows whether or not your company can make a profit.
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during the months of january and february, hancock corporation sold goods to three customers. the sequence of events was as follows: Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.
Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28 . The net sales is $ 2,720.
Calculating of problem:Net sales for the two months ended December 31
Net sales = Gross sales - Sales discount
= $1,500 + $850 + $400 - $1500 × 2%
= $2,750 - $30
= $2,720
Sales discount:
A sales discount is a price cut that a seller gives to a buyer in exchange for early payment of a product or service. When a seller is short on cash or wants to reduce the recorded amount of its outstanding receivables for other reasons, it may offer a sales discount.
What is the entry of a sales discount?At the time of recording in the income statement, the sales discounts are directly deducted from the gross sales. To put it another way, no cash or trade discount sales discount is included in the income statement's value of sales.
Question is incomplete:
During the months of January and February, Hancock Corporation sold goods to three customers. The sequence of events was as follows:
Jan. 6 Sold goods for $1,500 to S. Green and billed that amount subject to terms 2/10, n/30.
6 Sold goods to M. Munoz for $850 and billed that amount subject to terms 2/10, n/30.
14 Collected cash due from S. Green.
Feb. 2 Collected cash due from M. Munoz.
28 Sold goods for $400 to R. Reynolds and billed that amount subject to terms 2/10, n/45.
Assuming that Sales Discounts is treated as a contra-revenue, compute net sales for the two months ended February 28.
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You plan on including Employee Education and Awareness Policy training for all new employees. As part of that training, which of the following should you instruct your employees NOT to do as part of company procedures? (Select three.)
- Connect unauthorized devices.
- Respond to social engineering attacks.
- Click on links in a phishing email.
Carding is the method of trafficking of bank details, credit cards or other financial information over the internet.
What exactly is a social engineering assault, and how can it be avoided?
This is referred to as social engineering, and it entails duping someone into disclosing information or granting access to data networks. For example, an attacker may act as IT support workers and request information such as usernames and passwords from users.
Three Types of Social Engineering Attacks You Should Be Aware Of
1) PHONE AND ONLINE. Scammers employ phishing and smishing (fake SMS/text messages) to deceive people into handing over personal information or money.
3) PASSIVE ATTACK YOUR BEST DEFENSE.The social engineering attack is carried out in three stages. The attacker begins by selecting a victim. Second, they acquire their clients’ confidence. Third, they obtain what they want, generally by breaching security.
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XYZ Company has a target capital structure of 60% common stock, 30% debt, and 10% preferred stock. The company wishes to issue new bond ($1,000 par value) with 10% coupon rate and 30 years to maturity. The flotation costs will be $20 and the bond has to be sold at 5% discount. To issue new preferred stock the company has to pay $2 as flotation cost. The market value of preferred stock is $8 and stock will pay $1 dividend. New common stocks will cost the company $2. The expected dividend is $3 and the market value is $19 and growth rate of 5%. Tax rate is 40%. What is the weighted average cost of capital?
The approximate weighted average cost of capital of debt is 7.73% when Tax rate is 40%.
What is a Tax rate?A tax rate is the percentage at which someone or a business is taxed. City or regional income taxes are also levied in some localities. With a progressive tax rate, more money is taken in from taxpayers who make more money.
The federal government and several state governments in the United States both employ a progressive tax rate system, meaning that as taxable income for an individual or corporation rises, so does the percentage of tax that must be paid.
A portion of the taxpayer's earnings or money is collected and given to the government, regardless of whether it comes from wages or salaries, investment income like dividends and interest, capital gains from investments, or profits obtained from selling goods or services.
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gil wants to have $9,750 in 8 years. use the present value formula to calculate how much he should invest now at 3% interest, compounded semiannually in order to reach his goal.
When he should invest, $8540.43 is the present value.
What is meant by the word "investment"?
Investments are things or assets that are bought with the hope of making money or appreciating in value. Appreciation is the term used to describe when the value of an item increases over time.
A person who purchases something as an investment does not want to use it right immediately; rather, they want to use it to profit from it in the future.
Present value of a future value can be calulated using PV factor.
Here, interest rate will be considered 1.5/2%=0.75% and period is 16 because interest is compounding semiannually.
Present value=$9625(P/F,0.75%,16)
=$9625*0.8873
= $8540.43
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