Chapter 2 Mastery Problem
The T – Accounts are set up for you in the excel spreadsheet.
Hassan Rahim won a concession to rent bicycles in the local park during the summer. During the month of June, Hassan completed the following transactions for his bicycle rental business:

Chart of Accounts


Cash Hassan Rahim Capital
Accounts Receivable Hassan Rahim, Withdrawals
Supplies Rental Income
Shed Wages Expense
Bicycles Maintenance Expense
Accounts Payable Repair Expense
Concession Fee Expense

June 2 Began business by placing $7,200 in a business checking account.
3 Purchased supplies on account, $150
4 Purchased 10 Bicycles for $2,500, paying $1,200 down and agreeing to pay the rest in thirty days.
5 Purchased for cash a small shed to hold the bicycles and to use for other operations, $2,900
6 Paid cash for shipping and installation costs (considered as an addition to the cost of the shed) to place the shed at the park entrance, $400.
8 Received cash of $470 for rentals during the first week of operation.
13 Hired a part-time assistant to help out on weekends at $7.50 per hour
14 Paid a maintenance person to clean the grounds, $75.
15 Received cash, $500, for rentals during the second week of operation.
16 Paid the assistant for a weekend’s work, $150.
20 Paid for the supplies purchased on June 3, $150.
21 Paid repair bill on bicycles, $55.
22 Received cash for rentals during the third week of operation, $550.
23 Paid the assistant for a weekend’s work, $150.
26 Billed a company for bicycle rentals for an employee outing, $110
27 Paid the fee for June to the Park District for the right to the bicycle concession, $100.
28 Received cash for rentals during the week, $410.
29 Paid the assistant for a weekend’s work, $150.
30 Transferred $500 to personal checking account.

Answers

Answer 1

Answer:

30.

Explanation:


Related Questions

Plz answer as soon as possible

The manager of the local clothing store has been receiving complaints about one of his employee's attitude towards customers. What can the manager say to the employee to help her have a positive attitude?

A)I don't like receiving complaints from customers.
B)This attitude is not like you. Let's talk about ways to have a better attitude.
C)You need to start being nice to customers, or else you will be fired.
D)You need to start watching other employees to see how they interact with customers.

Answers

I’m assuming the answer is B
the answer is B

Good luck

Peyton Corporation and Rogers Corporation operate in the same industry. Peyton uses the straight-line method to account for depreciation, whereas Rogers uses an accelerated method. Explain what complications might arise in trying to compare the results of these two companies.

Answers

Answer:

If both firms have a lot of depreciable fixed assets, using the MACRS depreciation schedule or some other type of accelerated depreciation method will increase their expenses during the first years resulting in lower operating income. This situation reverses in the later years when the depreciation expense becomes much lower, resulting in higher operating income. On the other hand, using straight line depreciation makes your depreciation expense more stable and sometimes even more realistic.

Companies use MACRS depreciation to lower their tax liabilities by lowering their income. Remember that $1 saved today is worth more than $1 saved tomorrow.

In this case, Rogers Corporation might yield a lower income during the first years that it depreciates its assets, but then it will show much higher income (during the last years). Peyton Corporation should show more stable income.

Identify the examples of hobbies. Check all that apply.

Neal likes to paint pictures in his free time.
Sidney wants to take a literature class.
Janie works far from her home, and spends most of her day commuting.
Verna dislikes giving speeches, and attends a workshop to improve her public-speaking skills.
Willard plays on a community baseball team.
Adrienne likes to watch movies.

Answers

Answer:

Neal

Willard

Adrienne

Answer:

Neal likes to paint pictures in his free time.

Willard plays on a community baseball team.

Adrienne likes to watch movies.

This is the answers with full sentences.

Federal and state governments protect victims of identity theft by
creating laws that impose fines and jail time for identity thieves.
passing laws requiring financial institutions to reimburse victims.
forcing credit-reporting agencies to notify victims of suspicious activity.
O requiring people to do a better job protecting their personal information.

Answers

Answer: i think it is,

creating laws that impose fines and jail time for identity thieves.

Option A : Creating laws that impose fines and jail time for identity thieves.

Federal government

The Federal Government is composed of three distinct branches: legislative, executive, and judicial, whose powers are vested by the U.S. Constitution in the Congress, the President, and the Federal courts, respectively.

State government

A state government is the government that controls a subdivision of a country in a federal form of government, which shares political power with the federal or national government. A state government may have some level of political autonomy, or be subject to the control of the federal government.

Thus, Federal and state governments protect victims of identity theft by

creating laws that impose fines and jail time for identity thieves by

passing laws requiring financial institutions to reimburse victims.

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Which of the following is likely the lowest paid of the jobs listed?
A.
Retail clerk
B.
Car salesperson
C.
Desktop publisher
D.
Retail manager



I Need help ASAP

Answers

Answer:

I'm not sure but a desktop publisher or if not that a retail clerk

Answer:

A is the answer

Explanation:

What Would You Plan If a Local Museum Paid You to Attract Teens?

Answers

Answer:

i would plan a fasion show

Explanation:

Answer:

I would plan an interactive segment.

Explanation:

Something like a dig stand or a tye dye your own museum logo shirt.

Two years ago Daniel bought 40 shares of Ford Motor Company (F) for $70 a share. The stock pays an annual dividend of $1.50. Daniel is going to sell his stock at the current market market price of $120 per share. What would his Total Return be?​

Answers

Answer:

75.71%

Explanation:

Total return is a measure of all the returns that investment makes, be it interest, dividend income, capital gain, or other forms.

Total return is called using the format below.

(The asset’s value at the end  – the value at the beginning year) + dividends/value of the investment at the beginning = the total return.

For Daniel, total return would be

=($120x 40)- ($70 x 40) + ($1.50 x 40 x 2)

  ($70 x 40)

=$4,800 - $2,800 + $120

 $2,800

=$2,120/$2,800

=0.75714 x 100

=75.71%

When you receive a loan, the money the lender gives you is called the

Answers

Answer:

The Principle

Explanation:

There are two main parts of a loan: The principal -- the money that you borrow. The interest -- this is like paying rent on the money you borrow.

The principal is what it is called

Brenda likes hot dogs and Coca-Cola. Hot dogs cost $1 each and Coca-Cola costs $0.50 per bottle. There is a special promotion for Coca-Cola that will last for one month. If Brenda sends in the bottle tops from the Cokes she drinks during the next month, she will get a refund of $0.10 for every bottle cap beyond the first 12 that she returns. For example, 17 bottles will cost her $0.50 × 12 + $0.40 × 5 = $8. Brenda has $40 to spend on hot dogs and Coca-Cola during the next month. Draw her budget line with Cokes on the horizontal axis and hot dogs on the vertical axis. Find the points where the budget line hits the axes and the point where it has a kink. At each of these three points write down the quantities of each good consumed.

Answers

Answer:

see attached image

the first point is 0 cokes and 40 hot dogs

the second point is 12 cokes and 34 hot dogs (curve's kink)

the third point is 97 cokes and 0 hot dogs

 

 

If a company's scope is too big, what is likely to happen?
A.
The company will face more conflicts of interest.
B.
Employees will participate in a SWOT analysis.
C.
Employees will have better morale.
D.
The company will lose direction and focus.

Answers

Answer:

d is correct

Explanation:

A new business should be based on an entrepreneur’s individual interests because the entrepreneur must:

A. Have sufficient confidence to succeed
B. Be willing to take personal responsibility
C. Have enough determination to work alone
D. Dedicate as many hours as needed to the work

Answers

Answer:

D. Dedicate as many hours as needed to the work

Explanation:

Have a nice day!! :)

Answer:

D

Explanation:

Kubin Company’s relevant range of production is 12,000 to 16,000 units. When it produces and sells 14,000 units, its average costs per unit are as follows:

Direct materials $ 7.30

Direct labor $ 4.30

Variable manufacturing overhead $ 1.80

Fixed manufacturing overhead $ 5.30

Fixed selling expense $ 3.80

Fixed administrative expense $ 2.80

Sales commissions $ 1.30

Variable administrative expense $ 0.80

Required:

1. If 12,000 units are produced and sold, what is the variable cost per unit produced and sold?

2. If 16,000 units are produced and sold, what is the variable cost per unit produced and sold?

3. If 12,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?

4. If 16,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?

5. If 12,000 units are produced, what is the average fixed m

Answers

Answer:

1. If 12,000 units are produced and sold, what is the variable cost per unit produced and sold?

variable cost per unit = $7.30 + $4.30 + $1.80 + $1.30 + $0.80 = $15.50

2. If 16,000 units are produced and sold, what is the variable cost per unit produced and sold?

 variable cost per unit = $7.30 + $4.30 + $1.80 + $1.30 + $0.80 = $15.50

3. If 12,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?

$15.50 x 12,000 = $186,000

4. If 16,000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold?

 $15.50 x 16,000 = $248,000

5. If 12,000 units are produced, what is the average fixed m

average fixed manufacturing cost = ($5.30 x 14,000) / 12,000 = $6.1833 average fixed selling expense = ($3.80 x 14,000) / 12,000 = $4.4333average fixed administrative expense = ($2.80 x 14,000) / 12,000 = $3.2667total fixed expenses per unit = $13.8833

Guys I love cricket and my favourite ipl team is KKR​

Answers

Answer:

same pinch ☺️☺️..............

Same lol

^^ have a good day

Utilizing your research notes, imagine you are a business manager and you must create a brief step-by-step problem-solving guide to be used by your employees. The guide should outline the steps in the problem solving process and provide a few details as to how an individual could approach each step. The guide should be no more than one page. Be sure to explain the value of collaboration and teamwork within the workplace.

Answers

Answer:

Define the problem

Analyze the affects of problem on the business

Generate list possible solutions to it.

Evaluate each alternative.

Implement a solution that is best fit

Monitor the results

Explanation:

There are six steps in problem solving. As a business manager one should understand all these steps to immediately counter a problem and progress for business success. The business manager should first define the problem and analyse the affects that it may cause to the business operations. He should then consider list of possible solutions which can solve the problem without any harm to business activities. The best possible solution to the problem should be selected and then it should be implemented to solve the problem quickly. The progress of the problem solving should be evaluated.

59:47

What percentage of jobs are found through networking?
A.0%-20%
b. 20%-40%
c. 40%-60%
d. 60%-80%

Answers

Answer:

the answer is letter D

Explanation:

just took the test it was right on EDG

Answer:

60-80

Explanation:

I NEED THIS ASAP

Match each economic term to its definition.

Tiles:
the study of the economy as a whole
the type of unemployment experienced by students who
have graduated and are looking for jobs
an increase in the general price level for most goods
and services
the type of unemployment that occurs when the
economy is in a downturn
consistent growth combined with low inflation

Pairs:
frictional
inflation
economic stability
macroeconomics
cyclical

Answers

Answer:

Explanation:

Edmentum

1). Frictional ⇒ the type of unemployment experienced by students who have graduated and are looking for jobs

2). Inflation ⇒ an increase in the general price level for most goods

and services

3). Economic stability ⇒ consistent growth combined with low inflation

4). Macroeconomics ⇒ the study of the economy as a whole

5). Cyclical ⇒ the type of unemployment that occurs when the economy is in a downturn

What is economy?

Economy refers to the set of inter-related production and consumption activities that used in determining how to allocate the scarce resources.

It is a system in which goods and services are produced and exchanged.

Some of the major economic terms are demand, supply, scarce, employment, income etc.

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Two friends want to open a clothing consignment store. Individuals bring clothing to the consignment store and if the clothes sell, the consignment shop earns 60% and the customer receives 40% of the sale. What are the advantages of this type of business over other retail stores? Explain the advantages and disadvantages of operating this business as a sole proprietorship and a partnership

Answers

Answer:Some advantages of a consignment store are that if your your item sells both you and the business benifit. A disadvantage of a consignment store is that if the item doesnt sell the business doesnt profit and neither does the person who brought in the item. At other retail stores even if your item doesnt sell you still get the money but you dont get the item back so that could be an advantage or disadvantage.

Explanation:Some advantages of being a proprietorship and owning a consignment store is that you would get to keep all of the 60% sold of all profits.

A dsadvantage of being in a partnership and owning a consignment store would be that you would you would have to spilt the 60% with who ever you are partners with.

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Clyde is pursuing two clients for his consulting business. Time constraints prevent him from pursing both opportunities simultaneously. Clyde has a higher probability of landing Client A but the revenue generated would be smaller. The decision about which client to pursue is an example of which economic principle?





rational self-interest





trading





opportunity cost

Answers

Answer:

Opportunity Cost

Explanation:

there is a loss of potential gain when taking the other alternative for the other, so the answer has to be opportunity cost. Hope this helps.

Answer:

opportunity cost

Explanation:

Opportunity cost refers to the forgone benefits in a decision-making situation. Decision-making involves choosing among several alternatives. Each of the options has its merits. Once a choice has been made, the opportunity cost is the forfeited benefit from the next best alternative.

Because Clyde cannot pursue both clients at the same time, he has to decide on one. Choosing one client is forfeiting the gains from the other. The foregone benefits from the client who was not chosen represent the opportunity cost. Clyde has to decide which client to pursue; the other one becomes the opportunity cost.

In its first year of operations, Oriole Company recognized $30,000 in service revenue, $8,000 of which was on account and still outstanding at year-end. The remaining $22,000 was received in cash from customers. The company incurred operating expenses of $20,400. Of these expenses, $13,990 were paid in cash; $6,410 was still owed on account at year-end. In addition, Oriole prepaid $2,710 for insurance coverage that would not be used until the second year of operations.(a) Calculate the first year’s net earnings under the cash basis of accounting, and the first year’s net earnings under the accrual basis of accounting.

Answers

Answer:

Income statement under cash basis accounting:

Revenue                      $22,000

Operating expenses  ($13,990)

Insurance expense*    ($2,710)

operating income         $5,300

*under the 12 month rule, any prepaid expenses made by cash basis taxpayers will be recognized during the period that they were paid if the expenses will be accrued in 12 months or less. In this case, the insurance expense will be accrued during year 2, which is 12 months or less.

Income statement under accrual basis accounting:

Revenue                       $30,000

Operating expenses  ($20,400)

operating income          $9,600

Accrual basis accounting recognizes revenues and expenses when they actually occur and not necessarily when they are collected or paid.

An individual started the corporation by herself and she alone acted to poison the cake, using the corporation's name. The corporation is solely liable.

True
False

Answers

False because I looked it up

Ginger works at a shop as a mechanic. One day at work, a fellow employee is pinned under a car when a jack fails. Ginger rushes over to help, and while trying to lift the car suffers a stroke.

Answers

Answer:

Ginger should be covered by worker’s compensation insurance.

Explanation:

Workers' compensation insurance covers accidents suffered by employees while they are performing their work related activities. In this case, someone who has been pinned under a car is considered a work related accident, and Ginger trying to help his fellow coworker is a normal work related activity. If you see a coworker suffer an accident, it is your duty to call for help and if possible and safe (not mandatory), try to help him/her.

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Giving away a product for free can be a good business practice. Why is this TRUE?


When those free items make it into the hands of potential consumers, the business receives ongoing advertising through visibility.


Even if every single person throws away the free product, the company hasn’t wasted any time, resources, or money.


When a consumer doesn’t have to make a purchase, the consumer may become frustrated with the process.

Answers

Giving a product away for free can be good because people are more likely to try it if they do not need to pay. If they realise they like the product they will then buy it and tell others about the product as well

19. The occupational crowding model of discrimination predicts a. why men, in some cases, earn less than women. b. that firms will compete with one another for the best employee and that discrimination will be eliminated. c. that, unless the government gets involved, discrimination will become more severe. d. that men's wages will fall and women's wages will rise when certain jobs are no longer dominated by men. e. the financial advantages for women crowding into a single occupation.

Answers

Answer:

d. that men's wages will fall and women's wages will rise when certain jobs are no longer dominated by men.

Explanation:

Barbara Bergman developed the Occupational Crowding Model in 1971 in order to try to explain why women and certain minority groups earned in average much less than white males. She even calculated any bias due to higher education, but still she was able to show flagrant labor discrimination based on gender and race.

Her study showed how women and minorities are consistently excluded or crowded out from high paying jobs and high corporate positions. The vast majority of high paying jobs and high corporate positions are filled with white non-Latin males (Latins are not a race, they come in all colors, they are a culture).

If this tendency is eliminated, women and minorities should be able to earn similar wages than white non-Latin males since they are capable of performing the same functions in a similar and comparable manner. I.e. all women and all men are equally capable.

This has improved a little bit in the last years, but still the bias against women and minorities still exists. Forty years ago no one would even dream that a large US corporation would be headed by someone from a minority group, but nowadays Apple, Alphabet (Google), Sprint, ADM, HP, and others, are headed by people that fit into minority groups.

This is great, but you shouldn't have to search for corporations that are headed by non-Latin heterosexual whites, it should be normal. And more women are needed in these places also. Women are capable of doing everything that any man can do.

Would money put aside for a new tv be short term saving, long term saving, fixed expense, or variable expense?

Answers

short term saving i think... idrk

Apply Concepts In which of these situations would a manufacturer decide to produce more units? A. The marginal benefit is equal to the marginal cost. B. The marginal cost is greater than the marginal benefit. C. The marginal benefit is less than the marginal cost. D. The marginal cost is less than the marginal benefit.

Answers

Answer:

D. The marginal cost is less than the marginal benefit.

Explanation:

In making decision when to produce at economies of scale businesses analyse the marginal cost and marginal benefit of a product.

Marginal cost is the dollar amount spent by a company in producing a good, while marginal benefit is on the customer side.

It is the amount of money a consumer is willing to pay for a good. This declines over time as consumption increases.

The best time for a manufacturer to produce more goods is when the amount the consumer is willing to pay (marginal benefit) is more than the cost of producing the good (marginal cost).

This scenario results in more profit for the manufacturer.

The stock you create is based on your current customers, the repeat customers and the known referral
business to BBFB. It sells to PB for $1.5 million. The check clears. You still have liabilities in this
completed merger and acquisition by Phooey Buitton.
False
True

Answers

FALSEEEEEEEEEEEEEEEEEE

Answer:

False

Explanation:

A. Market aggressively when demand exceeds capacity.

B. Raise prices when capacity exceeds demand.

C. Offer products with complementary demand patterns​ (e.g., jet skis and​ snowmobiles).

D. Hire only temporary​ part-time employees.

Answers

Answer:

C. Offer products with complementary demand patterns​ (e.g., jet skis and​ snowmobiles).

Explanation:

THIS IS THE COMPLETE QUESTION BELOW;

Which of the following strategies helps to smooth utilization of​ facility, equipment, and​ personnel? A. Market aggressively when demand exceeds capacity. B. Hire only temporary​ part-time employees. C. Offer products with complementary demand patterns​ (e.g., jet skis and​ snowmobiles). D. Raise prices when capacity exceeds demand.

smooth utilization of​ facility, equipment, and​ personnel is very essential in every organization inorder to achieve organizational goals efficiently.one of the best to achieve this is Offering of products with complementary demand, which are the demands that comes along with goods/service due to the demand for goods that are related to it.

It should be noted that Offering of products with complementary demand patterns​ (e.g., jet skis and​ snowmobiles). is one of the strategies that helps to smooth utilization of​ facility, equipment, and​ personnel.

During recessions, state governments often will have to raise taxes and cut spending in order to keep their own budgets balanced. If a large number of states do this, what will happen to the aggregate demand curve at the national level

Answers

Answer:

Shift to the left since both of these actions are contradictory.

Explanation:

In the world of economics within the macro level, their are plenty of things that tend to create the demand curve move left; this may be seen when the overall quantity of products and services demanded at any given indicant falls. this will be thought of because the economy contracting. during a national level, masses which are the first consumers might spend less because the value of living is rising or because government taxes have increased. In in most cases arrange to spend less and save more if they expect prices to rise within the future.

help me pleaseeeeee its confusing i will give 100 due to brainliest

Answers

Answer:

unfortunately I am not available for a new role at this point but would like the following to be a quick update as I have now set the following email address for you to send me the information you needed for my application and the application forms and I want to make the necessary for photosynthesis to the sender if they have been accepted by me

If you earn a monthly salary of $2,100 what is the maximum amount of debt you should have to avoid debt issues?

Answers

Answer:

$756

Explanation:

As a rule of thumb, lenders apply the 28/36 rule to determine if a borrower is over-indebted.

The 28/36 rule suggests that individuals should not spend more than 28% of their gross income on household expenses. The debt level should not exceed 36% of gross income.

With a salary of  $2,100, the maximum debt should be 36% of $2100.

=36/100 x $2100

=0.36 x $2100

=$756

Maximum debt should be $756

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