Based on Woods, Inc. revenue and expenses, the balance in the Income Summary Account would be B. balance of $0.
What would be the balance in the Income Summary Account?There would be a credit of $16,000 from revenue. This would then be reduced by the debit of expenses to:
= 16,000 - 5,500
= $10,500
This $10,500 would then be credited to the Retained earnings account which would leave nothing in the Income summary account.
In conclusion, option B is correct.
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Patrice is working with a team of coworkers trying to brainstorm a new product line. Jonathan thinks they should come up with a new candy. Mateo thinks they should create a new toy. Cynthia thinks they should sell a new clothing item. How can Patrice BEST help solve this debate and help the team make a decision?
Patrice could help resolve the debate in brainstorming by guiding your team to consider all available options to create a new product line and identify the best option that will lead a company to be well positioned in the market.
What is brainstorming?It corresponds to a technique that helps in the emergence of creative solutions. It is carried out through a team meeting where each member must contribute with ideas and insights for new organizational strategies.
Therefore, it is essential that, in order to be effective, a brainstorming session must be led by a leader who has the role of mediating the meeting by promoting integration and cooperation to generate greater focus on the needs of the company.
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Mark, the marketing manager of a large U.S. corporation, realizes that Afghanistan has virtually no supply of tomatoes. He conducts a study to see what quantity of tomatoes Afghan customers would be able and willing to buy at different prices. Mark is analyzing Afghanistan's:
By conducting the study on the quantity of tomatoes Afghan customers would be able and willing to buy, Mark is analysing the demand for tomatoes.
What is the demand for a good?
The demand for a good measures the quantity of a good that would be demanded at different prices. Usually, the demand for a good is negatively related to the price of the good. As the price of the good increases, the demand for the good would decline.
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The cargo ship felicity ace sank in the north atlantic, taking $400 million worth of what with it?.
Answer:
$400,000,000 of CarsThe exact number of the cars were 4,000, and all their costs were $438 million to be more specific. It sank off the coast of the Portuguese Azore's Archipelago.
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Answered by: FieryAnswererGT
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A restaurant uses the ratio method of pricing. It has annual nonfood costs of $675,000 and desires a profit of $125,000. Last year the restaurant spent $367,000 on food costs. What will be the selling price of an item with food cost of $6.00?
Based on the ratio pricing method, the selling price of an item with food cost of $6 would be $13.08.
What is the ratio pricing method?The ratio pricing method is used to determine the price of menu items. It is calculated by adding non food costs to the desired profit and dividing the sum by food cost. This value is then multiplied by the standard food cost.
Ratio pricing method = [(non food cost + desired profit) / food cost] x standard food cost
= [($675,000 + $125,000) / $367,000] x $6 = $13.08
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Ron wants to start a digital marketing firm. He presents his business plan to Reshmie, who agrees to provide some funds for the new business in exchange for ownership interest or stock. Reshmie is called a(n) ______________
Reshmie is called a shareholder of Ron Digital Marketing firm.
Who is a Shareholder?A shareholder is an individual person, firm, or institution who holds at least one share of a company's equity.
Because shareholders effectively own the firm, they profit from its success. These benefits take the shape of improved stock values or financial earnings given as dividends.
When a firm loses money, the share price lowers automatically, causing shareholders to lose money or incur losses in their holdings.
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A data ________ is a repository of historical data that are organized by subject to support decision makers in the organization.
Answer:warehouse
Explanation:
Float is defined as the:Multiple Choiceamount of cash a company can immediately withdraw from its bank account.difference between book cash and bank cash.change in the cash balance from one accounting period to the next.
Many staffs are utilizing critical paths for their lines of operation that culminate in a decision venue for the commander to achieve integrated action; however, these targeting efforts may be unaligned. This leads to...
When directing efforts are not aligned on critical paths for integrated actions, this leads to the need to synchronize actions assigned to each operational level and delegate tasks in detail at the tactical level to subordinates and stakeholders.
Why is the integration of activities essential?It is essential to direct and coordinate activities in an objective, clear and dynamic way, because in an organization, there is a systematization of integrated processes that together help to achieve objectives and goals.
Therefore, effective communication at all operational levels is essential to ensure the integration of organizational activities in order to achieve total process quality.
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An arena makes profits of $150,000, $75,000, and $1,250,000 from concerts, circuses, and UFC events, respectively. What are the respective percentages of the total profit? (Round to the nearest percent.)
Answer:
10%, 5%, 85%
Explanation:
[tex]\frac{(1250+75+150)}{100}=14\frac{3}{4}[/tex] This is the amount, in thousands, required to get 1%.
[tex]\frac{1250}{14.75}=84\frac{3}{4}[/tex], therefore this is 85% (approximated)
[tex]\frac{75}{14.75}=5\frac{1}{12}[/tex], therefore this is 5%, and we'll call this number A
[tex]a*2=10\frac{1}{6}[/tex], and this is 10%!
When an individual weighs her options and makes a choice that maximizes her benefit at the minimum cost, economists refer to this as a process of
Does everyone on brainly homeschool? This is a survey out of my own curiosity!
Answer: This is my first year in homeschool
Explanation:
The eu has benefited firms in its member nations because.
Answer:
firms do not need to market their products and services on a nation-by-nation basis. The EU has benefited its member nations because firms do not need to market their products and services on a nation-by-nation basis.
MegaMouth Inc. Produces two megaphone models, the Boomer and the Blaster. The company makes 15,000 units of the Boomer model and 16,400 of the Blaster model each year. MegaMouth inspects 1 Boomer for every 100 produced and 1 Blaster for every 80 produced. The company expects $11,360 in total inspecting costs for the coming year. What amount of the inspecting costs should be allocated to the Blaster model under activity-based costing
The amount that should be allocated to the Blaster model under activity-based costing is $6560.
How to calculate the costing?Firstly, the total inspections for Boomer will be:
= 1/100 × 15000
= 150.
The total inspections for Blaster will be:
= 1/80 × 16400
= 205
Total inspections = 150 + 205 = 355
Therefore, the cost will be:
= $32 × (11360/355)
= $6560
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if a customer with a food allergy accidentally receives a dish with the allergen in it what should the food handler do
The food handler must call the emergency medical service so that the patient can be seen as soon as possible and avoid a serious medical risk.
What is an allergy?It is a term that refers to a set of alterations in the body that can affect the systems
RespiratoryNervousImmunologicalAllergies generally occur when the body has an extreme sensitivity to a substance to which it has been exposed, and that under normal conditions do not cause these alterations.
According to the above, the best way to treat an allergy is to call the emergency medical system because the patient's allergic reaction can be severe and cause choking or other serious symptoms that can cause death.
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At a listing appointment, the seller asks the broker not to disclose the prior termite treatment and repairs since they are now corrected. The broker should
The broker should insist that the seller disclose these facts to any potential purchaser since there were prior termite treatment and repairs but whuch have been now corrected.
What is the principle behind the disclosure?The principle of Caveat emperor ensured that there is absolute disclosure between a buyer and seller.
In conclusion, the broker should insist that the seller disclose these facts to any potential purchaser.
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After journalizing and posting the closing entries to the ledger what do all temporary account have.
It should be noted that after journalizing and posting the closing entries to the ledger all temporary account do have their retained earnings up to date.
What is retained earnings?Retained earnings serves a term used in referring to the firm's cumulative net earnings or profit after accounting for dividends.
This earning ate been referred to as the earnings surplus.
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True or False. An advantage of using Gantt charts is that they provide a standard format for displaying planned project schedule information.
Answer:
false
Explanation:
they do not provide a standard format for displaying planned project schedule information.
Kenny is a college student working a part-time job as a mechanic at a local body shop Kenny earns an average of $25 per hour, working 20 hours per week . Kenny pays his health insurance of $2,200 per year and taxes of $1,000 per year What is his net annual pay? And net monthly pay rounded to the nearest dollar?
Kenny's net annual pay is $22,800.
Kenny's net monthly pay is $1900.
What is Kenny's net annual pay?Kenny's net annual pay is her gross pay less any deductions such as insurance and taxes.
Kenny's net annual pay = gross pay - health insurance - taxes
Gross pay = $25 x 20 x 52 = $26,000
Kenny's net annual pay = $26,000 - $2200 - $1000 = $22,800
Kenny's net monthly pay = $22,800 / 12 = $1,900
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1) Government regulation like licensing requirements create barriers to entry prevents new
firms from developing and marketing products and services. This is done presumably to ensure
high standards for those industries that require licenses. However, often times it can create a
dearth of individuals allowed to do the job. How stringent should licensing requirements be for
the following groups:
1. Physicians
2. Attorneys
3. Teachers
4. Accountants
5. Architects
6. Taxi drivers
Discuss this with regard to market entry and exit, market power like monopolies and
oligopolies, as well as with regard to complaints that licensing requirements often do not match
the monetary gains of certain professions.
2) Think of an industry that has only a small handful of competitors in the market. How do
these types of organizations maintain market dominance? What risks do the individual firms in
your chosen industry take in an oligopoly dominated industry?
The level of stringency which a government can have for licencing requirements for the aforementioned groups is:
It should be high because the high standards should be maintained as these occupations, with the exception of taxi drivers are absolutely necessary to the social shaping of a community or nation.What are Government Regulations?This refers to the rules and laws which a government of a country places on certain things and areas so that there can be measures of quality.
With this in mind, we can see that in non essential areas that requires low to no skill sets, then the licencing requirements should be made low to encourage more participation, but at the same time, monitoring should be enforced to ensure that they are not acting out of bounds.
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The automatic storage water heater was invented by ____, an employee of George Westinghouse, founder of the Westinghouse Corp.
The person who worked for George Westinghouse and invested the automatic storage water heater was Edwin Rudd.
Who was Edwin Rudd?Edwin Rudd was an employee of George Westinghouse when he worked at the Fuel Gas and Manufacturing company.
It was here that he invented the automatic storage water heater in 1889 and then spent as much as 8 years to improve on it.
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The hospitality and tourism industry makes up the entire service industry.
O True
O False
Answer:
True. Let me know if this works :)
__________is the name for the doctrine that holds that the manufacturer of a product has legal responsibilities to compensate the user of that product for injuries suffered because the product's defective condition made it unreasonably dangerous, even though the manufacturer has not been negligent in permitting that defect to occur.
Answer:
Product liability
What are steps in the problem-solution organizational method of organizing persuasive speeches on questions of policy
The steps of the organizational problem-solving method aimed at promoting persuasion on policy issues are:
Explanation of the importance of the problemSuggestion of a practical planDemonstration of a needWhat is the relevance of communication?In a organization, it is essential for information to flow effectively through all organizational systems in order to achieve objectives and goals.
It is essential for the leader to be honest and objective when communicating changes to the stakeholders, explaining the importance, motivations and how the change will be implemented.
Therefore, using the steps for persuasive speeches, the chances of adherence and reduction of resistance are greater, strengthening the organizational culture.
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Costs and benefits that should be ignored when making decisions are called ______ costs and benefits.
The first step in making a choice is to define the issue at hand. When making judgments, related costs and benefits should be evaluated. When making judgments, extraneous costs and advantages should be overlooked.
Revocation of an offer is valid once it is __________________.
A. placed in the mail received by offeree (the person receiving the offer)
B. received by offeror (the person making the offer)
C. created
Revocation of an offer is valid once it is B. received by the offeror (the person making the offer), meaning that it has been communicated to the other party by the offeree.
What is the revocation of an offer?The revocation of an offer is the nullification or canceling of an offer by the offeree. It becomes effective when the offeree communicates to the offeror before acceptance.
Once the revocation has been communicated, the offer is no longer considered valid and cannot legally be accepted. The implication is that revocation goes into effect immediately it has been communicated to the relevant party.
Thus, revocation of an offer is valid once it is B. received by the offeror.
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Revocation of offer is valid once it is received by the offer or that is the person making the offer.
What is Revocation of an offer?Revocation of offer refers to the process of withdrawing former offer use for any form legally binding contract engagement. The former offer would have become legally binding if the other party had formally agreed to the offer.
Once, Revocation of offer has been communicated, it is no longer conferred valid and legal again.It cannot be accepted.
Therefore, Revocation of offer is valid once it is received by the offer or that is the person making the offer
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We are hired as consultants to assist Arctica Co. In accounting for its warranty expenses. Arctica offers a one-year warranty covering parts on each snowmobile it sells. The following Tableau Dashboard is provided to assist us
The table shows that Arctica has understated the warranty liabilities.
What are warranty liabilities?It should be noted that warranty expenses are the cost that a business expects to incur from the replacement of goods.
From the complete question, table shows that Arctica has understated the warranty liabilities. This was illustrated in the table.
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Which car that gm manufactured had issues similar to the pinto?.
Answer: Malibu.
Explanation:
Which communication objective related to the hierarchy of effects requires explaining the benefit of a new product relative to other similar products offered by​ competitors?
The communication objective related to the hierarchy of effects is knowledge.
What is knowledge?Knowledge simply means having understanding about something by knowing it.
Having good understanding of a new product is important as this help us to everything about the products, including the important of the product and the benefit consumer of such product tend to derived from using this product compare to other product that are similar to the new product in the market.
Inconclusion the communication objective related to the hierarchy of effects is knowledge.
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In terms of increasing motivation, which variable-pay plans are better for newco than others?.
Answer:
piece-rate pay plan
-A bonus plan.
-A profit-sharing plan.
-A merit-based pay plan.
-An employee stock ownership plan
Thanks in advance for your help.
What causes the cost of a good to increase? low demand and low supply high demand and high supply low demand and high supply high demand and low supply.
Answer:
The answer is D. High demand low supply
I got it right on egde
Explanation:
Answer: D
Explanation: I got it right