Answer:
economic
Explanation:
pls mark me brainliest right
Alexa and David are managers of different sales teams. Together, they decide to have a competition between teams to see who can bring in the most new clients this month. To increase the sense of competition, they create spirit days where they wear team colors (Alexa's team: blue, David's black), strategize ways to beat the other group, and keep a running total of who is winning on a white board. Alexa and David are employing ________ to increase productivity.
Incomplete question. The options read;
Social identity theoryParasocial interaction theoryLeader-member exchange theoryVigilant interaction theoryExpectancy theoryAnswer:
Vigilant interaction theory
Explanation:
Remember, we are told that Alexa and David kept a running total of who is winning on a whiteboard for the entire team to see while also strategizing ways to beat the opposing team.
According to the vigilant interaction theory, the productivity of a team is usually dependent upon the group's attentiveness during their group interaction.
Hence, we can thus conclude that Alexa and David are employing vigilant interaction theory to increase productivity.
Carefully examine the example problem statement and select which criteria listed below have been met.
Cryptocurrency is one of the most profitable possible investments in the marketplace today, but most investors have no idea how to take advantage of this opportunity. By creating an investment opportunity based on cryptocurrency investments, we intend to bring investors a simple, new option with extremely high potential returns. As part of proposing a solution to our problem, we need to determine why the time is now to offer this investment and why investors should make this investment with us.
Criteria 1: The problem is well defined (short and precise, no more than 200 words)
Criteria 2: The magnitude or impact of the problem is clear
Criteria 3: The following question has been answered - Who is it affecting (key stakeholders)?
Criteria 4: The following question has been answered - How is it affecting the stakeholder(s)?
Criteria 5: The following question has been answered – What kind of solution is the client looking for?
Criteria 6: This can be solved by a team of 5 MBA students in 14 weeks
Answer:
Criteria 2: The magnitude or impact of the problem is clear.
Explanation:
The problem is well defined in the statement given above. Cryptocurrency is one of the latest investment opportunity for the investors. It is a digital asset which is traded online with different investors. It is used to trade online where physical transfer of cash takes much time or is not possible at all. The magnitude and impact of cryptocurrency is well defined.
Arthur deposits Kenya shillings P into a savings account at time 0, which pays interest at a nominal rate of j, compounded semi-annually. In the last 6 months of the 7th year, he earns interest that is 2.4 times what he earned in the last 6 months of the 4th year. Calculate j
Answer:
hiii ni mao ya wapi brooo
The following information is related to the pension plan of Gamekeeper, Inc. for 2017:
Actual return on plan assets $335,000
Amortization of net gain 132,000
Amortization of prior service cost due to increase in benefits 240,000
Expected return on plan assets 368,000
Interest on projected benefit obligation 580,000
Service cost 1,295,000
Pension expense for 2017 is:_______
a. $1,615,000.
b. $1,165,000.
c. $1,894,000.
d. $1,927,000.
Answer:
a. $1,615,000
Explanation:
Calculation for what the Pension expense for 2017 is:
Service cost, $1,295,000
Add Interest on the projected benefit obligation $580,000
Less Expected return on plan assets, ($368,000) Less amortization of net gain ($132,000)
Add amortization of PSC, $240,000
Pension expense $1,615,000
Therefore Pension expense for 2017 is:$1,615,000
Acme Investors is considering the purchase of the undeveloped Baker Tract of land. It is currently zoned for agricultural use. If purchased, however, Acme must decide how to have the property rezoned for commercial use and then how to develop the site. Based on its market study, Acme has made estimates for the two uses that it deems possible, that is, office or retail. Based on its estimates, the land could be developed as follows:
Which would be the highest and best use of this site?
Office Retail
Rentable Square Feet 100,000 80,000
Rents per square foot $24 $30
Operating Expenses Ratio 40% 50%
Avg. Growth in NOI Per Year 3% 3%
Required Return (r) 13% 14%
Total Construction Cost
per square foot $100 $100
Using the information from above, but assuming the site is currently improved with an industrial building that generates $400,000 of NOI per year. Investors require a return of 10% for such properties and assume no growth in NO. It would require $50,000 to demolish the existing building/prepare the site for redevelopment. From your work in above, what is the highest and best use as vacant? What is the highest and best use as improved?
Answer:
Office
Explanation:
Calculation to determine Which would be the highest and best use of this site
The analysis for the Baker Tract is as follows: OFFICE RETAIL
Rent 2,400,000 2,400,000
(100,000*$24=2,400,000)
Less Expenses (960,000) (1,200,000)
(2,400,000*40%=960,000)
(2,400,000*50%=1,200,000)
Cash Flow 1,440,000 1,200,000
(2,400,000-960,000=$1,440,000)
(2,400,000-$1,200,000=$1,200,000)
Cap Rate 0.10 0.11
(13%-3%=0.10)
(14%-3%=0.11)
Property Value 14,400,000 10,909,090
(1,440,000/0.10=14,400,000)
(1,200,000/0.11=10,909,090)
Construction Cost (10,000,000) ( 8,000,000)
(100,000*100=10,000,000)
(80,000*100=8,000,000)
Residual 4,400,000 2,909,090
(14,400,000-10,000,000=4,400,000)
( 10,909,090-8,000,000=2,909,090)
Therefore Based on the above calculation OFFICE would be the highest and best use of this site reason been that OFFICE has the HIGHEST amount of $4,400,000 compare to retail which has $2,909,090.
In an ethical dilemma such as the one presented above
Multiple Choice
there are two choices, neither of which resolves the situation in an ethically acceptable manner
there are two choices, either of which resolves the situation in an ethically acceptable manner
there are two choices, one of which resolves the situation in an ethically acceptable manner
there is only one choice
there are no choices
Answer:
there are two choices, neither of which resolves the situation in an ethically acceptable manner
Explanation:
Given that Ethical dilemma is a philosophical term that describes circumstances whereby an individual is having two available decisions for him to pick one. However, none of them supersede the other in terms of ethical requirements.
Therefore, in this case, the correct answer is "there are two choices, neither of which resolves the situation in an ethically acceptable manner."
List the four responsibilities businesses have to customers.
Answer:
good luck bro you got this
Explanation:
to provide after-sale service on the basis of the nature of a product
to provide information about the changes introduced by the business
to take necessary steps to improve quality, reduce price and develop the network for distribution
to supply better quality goods at the right time at a reasonable price
Striker Company estimates its expected cash receipts for the period to be $80,000 and its expected cash disbursements to be $70,000. The beginning cash balance for the period was $5,000. The management wants to maintain a minimum cash balance of $40,000. Knowledge Check 01 How much cash will the company need to borrow
Answer:
$25,000
Explanation:
Calculation for How much cash will the company need to borrow
Cash needed to borrow=$40,000 - (($80,000 - $70,000) + $5,000).
Cash needed to borrow=$40,000+$10,000-$5,000
Cash needed to borrow=$25,000
Therefore How much cash will the company need to borrow is $25,000
bond economicial definition.
How can marketers take advantage of laughable disclaimers in their advertising?
Answer:
a
Explanation:
Ayala Architects incorporated as licensed architects on April 1, 2017. During tne first month of the operation of the business, these events and transactions occurred:
Apr. 1 Stockholders invested $18,000 cash in exchange for common stock of the corporation.
Hired a secretary-receptionist at a salary of $375 per week, payable monthly.
2 Paid office rent for the month $900.
3 Purchased architectural supplies on account from Burmingham Company $1, 300.
10 Completed blueprints on a carport and billed client $1, 900 for services.
11 Received $700 cash advance from M. Jason to design a new home.
20 Received $2, 800 cash for services completed and delivered to S. Melvin.
30 Paid secretary-receptionist for the month $ 1, 500.
30 Paid $300 to Burmingham Company for accounts payable due.
The company uses these accounts: Cash, Accounts Receivable, Supplies, Accounts Payable, Unearned Service Revenue, Common Stock, Service Revenue, Salaries and Wages Expense, and Rent Expense.
Instructions:
(a) Journalize the transactions, including explanations
(b) Post to the ledger T-accounts.
(c) Prepare a trial balance on April 30, 2017.
Answer:
Ayala Architects
a) Journal Entries:
Apr. 1: Debit Cash $18,000
Credit Common Stock $18,000
To record the issuance of common shares for cash.
Apr. 2: Debit Rent Expense $900
Credit Cash $900
To record the payment of rent for the month.
Apr. 3: Debit Supplies $1,300
Credit Accounts payable (Burmingham Company) $1,300
To record the purchase of supplies on account.
Apr. 10: Debit Accounts receivable $1,900
Credit Service Revenue $1,900
To record the sale of services on account.
Apr. 11: Debit Cash $700
Credit Unearned Service Revenue $700
To record receipt of cash in advance for services.
Apr. 20: Debit Cash $2,800
Credit Service Revenue $2,800
To record the receipt of cash for services rendered.
Apr. 30: Debit Salaries and Wages Expense $1,500
Credit Cash $1,500
To record payment of salaries for the month. ($375 * 4 weeks)
Apr. 30: Debit Accounts payable (Burmingham Company) $300
Credit Cash $300
To record payment on account.
b) T-accounts
Cash
Account Titles Debit Credit
Common stock $18,000
Rent $900
Unearned revenue 700
Service revenue 2,800
Salaries and wages 1,500
Accounts payable 300
Balance 18,800
Accounts Receivable
Account Titles Debit Credit
Service Revenue $1,900
Supplies
Account Titles Debit Credit
Accounts payable $1,300
Accounts Payable
Account Titles Debit Credit
Supplies $1,300
Cash $300
Balance 1,000
Unearned Service Revenue
Account Titles Debit Credit
Cash $700
Common Stock
Account Titles Debit Credit
Cash $18,000
Service Revenue
Account Titles Debit Credit
Accounts receivable $1,900
Cash 2,800
Balance $4,700
Salaries and Wages Expense
Account Titles Debit Credit
Cash $1,500
Rent Expense
Account Titles Debit Credit
Cash $900
c) Trial Balance
As of April 30, 2017:
Account Titles Debit Credit
Cash $18,800
Accounts receivable 1,900
Supplies 1,300
Accounts payable $1,000
Unearned Service Revenue 700
Common Stock 18,000
Service Revenue 4,700
Salaries and wages exp. 1,500
Rent Expense 900
Totals $24,400 $24,400
Explanation:
a) Data and Analysis:
Apr. 1: Cash $18,000 Common Stock $18,000
Apr. 2: Rent Expense $900 Cash $900
Apr. 3: Supplies $1,300 Accounts payable (Burmingham Company) $1,300
Apr. 10: Accounts receivable $1,900 Service Revenue $1,900
Apr. 11: Cash $700 Unearned Service Revenue $700
Apr. 20: Cash $2,800 Service Revenue $2,800
Apr. 30: Salaries and Wages Expense $1,500 Cash $1,500 ($375 * 4 weeks)
Apr. 30: Accounts payable (Burmingham Company) $300 Cash $300
Apr. 2 Purchased $3,100 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point.
3 Paid $390 cash for shipping charges on the April 2 purchase.
4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $750.
17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
18 Purchased $5,500 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination.
21 After negotiations, received from Frist a $500 allowance toward the $5,500 owed on the April 18 purchase.
28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
Required:
Prepare journal entries to record the above transactions for a retail store. Assume a perpetual inventory system.
Answer:
1. Apr 02
Dr Merchandise inventory $3,100
Cr Accounts payable-Lyon $3,100
2 Apr 03
Dr Merchandise inventory $390
Cr Cash $390
3 Apr 04
Dr Account payable-Lyon $750
Cr Merchandise inventory $750
4 Apr 17
Dr Account payable-Lyon $2,350
Cr Cash $2,303
Cr Merchandise inventory $47
5 Apr 18
Dr Merchandise inventory $5,500
Cr Account payable-Frist Corp $5,500
6 Apr 21
Dr Account payable-Frist Corp $500
Cr Merchandise inventory $500
7 Apr 28
Dr Account payable-Frist Corp $ 5000
Cr Cash $4,950
Cr Merchandise inventory $50
Explanation:
Preparation of the journal entries to record the above transactions for a retail store. Assume a perpetual inventory system.
1. Apr 02
Dr Merchandise inventory $3,100
Cr Accounts payable-Lyon $3,100
2 Apr 03
Dr Merchandise inventory $390
Cr Cash $390
3 Apr 04
Dr Account payable-Lyon $750
Cr Merchandise inventory $750
4 Apr 17
Dr Account payable-Lyon ($3100-$750) $2,350
Cr Cash ($2350*98%) $2,303
Cr Merchandise inventory $47
($2,350-$2,303)
5 Apr 18
Dr Merchandise inventory $5,500
Cr Account payable-Frist Corp $5,500
6 Apr 21
Dr Account payable-Frist Corp $500
Cr Merchandise inventory $500
7 Apr 28
Dr Account payable-Frist Corp ($5500-$500) $5000
Cr Cash (5000*99%) $4950
Cr Merchandise inventory $50
($5000-$4950)
Dell has been aggressively cutting their days of inventory. In the third quarter of 2009, Dell reported $952 million of inventory, $10,663 million of sales and $12,896 million of cost of goods sold. How many days of inventory did Dell have in the third quarter of 2009
Answer:
27 days
Explanation:
The computation of the days of inventory is given below:
= 365 days ÷ inventory turnover ratio
= 365 days ÷ ($12,896 million ÷ $952 million)
= 365 days ÷ 13.55
= 27 days
We assume that the inventory i.e given in the question is average inventory
what is capital? in your own words. economics.
Answer:
In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business. ... In classical economics, capital is one of the four factors of production. The others are land, labor and organization
You and your partner have become very interested in cross-country motorcycle racing and wish to purchase entry-level equipment. You have identified two alternative sets of equipment and gear. Package K has a first cost of $200,000, an operating cost of $6,000 per quarter, and a salvage value of $30,000 after its 2-year life. Package L has a first cost of $280,000 with a lower operating cost of $2,200 per quarter and an estimated $30,000 salvage value after its 4-year life. Which package offers the lower present worth analysis at an interest rate of 20% per year, compounded quarterly
Answer:
Package K offers the lower present worth analysis.
Explanation:
This can be determined using the following 3 steps.
Step 1: Calculations of present worth of Package K
First cost = $200,000
Present value of quarterly operating cost = quarterly operating cost * ((1- (1/(1 + r))^n)/r) ....... (1)
Where;
r = quarterly interest rate = interest rate per year / Number of quarters in a year = 20% / 4 = 5%, or 0.05
n = number of quarters = Number of years * Number of quarters in a year = 2 * 4 = 8
Substituting the values into equation (1), we have:
Present value of quarterly operating cost = $6,000 * ((1- (1/(1 + 0.05))^8)/0.05) = $38,779.28
Present value of salvage value = Salvage value / (1 + quarterly interest rate)^Number of quarters = $30,000 / (1 + 0.05)^8 = $20,305.18
Present worth of package K = First cost + Present value of quarterly operating cost - Present value of salvage value = $200,000 + $38,779.28 - $20,305.18 = $218,474.10
Step 2: Calculations of present worth of Package L
First cost = $280,000
Present value of quarterly operating cost = quarterly operating cost * ((1- (1/(1 + r))^n)/r) ....... (1)
Where;
r = quarterly interest rate = interest rate per year / Number of quarters in a year = 20% / 4 = 5%, or 0.05
n = number of quarters = Number of years * Number of quarters in a year = 4 * 4 = 16
Substituting the values into equation (1), we have:
Present value of quarterly operating cost = $2,200 * ((1- (1/(1 + 0.05))^16)/0.05) = $23,843.09
Present value of salvage value = Salvage value / (1 + quarterly interest rate)^Number of quarters = $30,000 / (1 + 0.05)^16 = $13,743.35
Present worth of package L = First cost + Present value of quarterly operating cost - Present value of salvage value = $280,000 + $23,843.09 - $13,743.35 = $218,474.10 = $269,900.25
Step 3: Comparison of present worth
Present worth of package K = $218,474.10
Present worth of package L = $269,900.25
Therefore, Package K offers the lower present worth analysis.
In addition to telling readers why an illustration is important, why else should you refer to it in the text of your document?
Answer:
To assist the readers to relate objects and actions with texts.
Explanation:
Aside from telling readers why an illustration is important, the other reason you should refer to it in the text of your document is "to assist the readers to relate objects and actions with texts."
This is evident in the fact that illustration in a text is a means of presenting a graphical representation of ideas, processes, or theories to aid or give elaborate meaning to what is written.
Determinants of Interest Rate for Individual Securities The Wall Street Journal reports that the rate on 3-year Treasury securities is 8.30 percent, and the 6-year Treasury rate is 8.45 percent. From discussions with your broker, you have determined that expected inflation premium is 3.70 percent next year, 3.95 percent in Year 2, and 4.15 percent in Year 3 and beyond. Further, you expect that real interest rates will be 4.10 percent annually for the foreseeable future. What is the maturity risk premium on the 6-year Treasury security
Answer:
20%
Explanation:
Calculation for What is the maturity risk premium on the 6-year Treasury security
Maturity risk premium=
8.45% = 4.15% + 4.10% + MP
MP = 8.45% − (4.15% + 4.10%)
MP=8.45%-8.25%
MP=0.20*100
MP=20%
Therefore the maturity risk premium on the 6-year Treasury security will be 20%
Marko, Inc., is considering the purchase of ABC Co. Marko believes that ABC Co. can generate cash flows of $6,100, $11,100, and $17,300 over the next three years, respectively. After that time, they feel the business will be worthless. Marko has determined that a rate of return of 15 percent is applicable to this potential purchase. What is Marko willing to pay today to buy ABC Co.
Answer:
Total PV= $25,072.57
Explanation:
Giving the following information:
Cash flows:
Cf1= $6,100
Cf2= $11,100
Cf3= $17,300
Discount rate= 15%
To calculate the present value, we need to use the following formula on each cash flow:
PV= Cf / (1+i)^n
PV1= 6,100 / 1.15= 5,304.35
PV2= 11,100 / 1.15^2= 8,393.19
PV3= 17,300 / 1.15^3= 11,375.03
Total PV= $25,072.57
Wakanda Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.6 direct labor-hours. The direct labor rate is $9 per direct labor-hour. The production budget calls for producing 4,000 units in March and 5,000 units in April. What would be the total combined direct labor cost paid to workers by Morie for the two months
Answer:
See below
Explanation:
Required production in units 4,000 5,000
Direct labor hour per unit 0.6 0.6
Total direct labour hours needed 2,400 3,000
Direct labor cost per hour
$9 $9
Total direct labor cost
$21,600 $27,000
Therefore, the total combined direct labor cost paid to workers by Morie for the two months is $48,600
Prior service cost is amortized on a straight-line basis over the average remaining service life of active employees or 15 years, whichever is longer. years-of-service method or on a straight-line basis over the average remaining service life of active employees. straight-line basis over 15 years. straight-line basis over the expected future years of service.
Answer:
years-of-service method or on a straight-line basis over the average remaining service life of active employees
Explanation:
Prior service cost (PSC) is simply defined is an instant hike or increase in PBO that is gotten or as a result of the retroactive application of hike or an increase in profits or benefits for service already given(rendered) the name "prior" service cost is given to it as a result of the service cost of previous years which was increased. An example, a defined benefit pension plan provides benefits equal to 4% of last salary for each year of service rendered. The plan is later worked on to increase the rate 4.23% and
the working on or amendment is is said to be retroactive. The present value of the increased benefits (.23%) earned prior to the adjustment or amendment is PSC. Sometimes, retroactive grant may lower the benefits for service already rendered. Amortization is an accounting technique. It is often used to constantly in a timely or periodic manner to reduce or lower the book value of a loan or intangible asset over a time period that is always set.
The amount to be amortized is gotten by giving equal amount of expense to each future period of service always for employee each and those who is mandated to receive benefits.
For an organization with a Liabilities to Fund Balance ratio of 1.90, we can conclude that:
a. for every $1 in restricted fund balance, the entity has $1.90 in debt.
b. for every $1 in total fund balance, the entity has $1.90 in debt.
c. for every $1 in unrestricted fund balance, the entity has $1.90 in debt.
d. for every $1 in total assets, the entity has $1.90 in debt.
Answer: b. for every $1 in total fund balance, the entity has $1.90 in debt.
Explanation:
The Liabilities to Fund Balance ratio enables analysts to know the debt load of the fund. It is also known as the Debt to Net Worth ratio and is calculated by the formula:
= Interest - bearing debt / Total Capital
As shown from the formula, if the ratio is 1.90, it means that for every $1 in the total fund balance, the fund has $1.90 in debt.
On January 2, 2020, Howdy Doody Corporation purchased 18% of Ranger Corporation's common stock for $52,000. Based on its ownership, Howdy Doody Corp. cannot exert significant influence over the operations of Ranger Corp. Ranger's net income for the years ended December 31, 2020, and December 31, 2021, were $11,000 and $52,000, respectively. During 2020, Ranger declared and paid a dividend of $68,000. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $74,000. How much should Howdy Doody show in the 2020 income statement as income from this investment
Answer:
The Total amount is shown in the income statement $34,240
Explanation:
The computation of the amount that should be presented in the 2020 income statement is shown below:
Dividend collected by Howdy Doody corporation (18% of $68,000) $12,240
rise in Fair value of Stock credited to the income statement ($74,000 - $52,000) $22,000
The Total amount is shown in the income statement $34,240
The unadjusted trial balance for PS Music as of July 31, 20Y5 is as follows:
PS Music
Unadjusted Trial Balance
July 31, 20Y5
Account No. Debit Balances Credit Balances
Cash 11 9,945
Accounts Receivable 12 2,750
Supplies 14 1,020
Prepaid Insurance 15 2,700
Office Equipment 17 7,500
Accounts Payable 21 8,350
Unearned Revenue 23 7,200
Common Stock 31 9,000
Dividends 33 1,750
Fees Earned 41 16,200
Wages Expense 50 2,800
Office Rent Expense 51 2,550
Equipment Rent Expense 52 1,375
Utilities Expense 53 1,215
Music Expense 54 3,610
Advertising Expense 55 1,500
Supplies Expense 56 180
Miscellaneous Expense 59 1,855
40,750 40,750
Based on those balances and the additional data below, prepare adjusting journal entries. Include Posting References, using the account numbers in your spreadsheet. You will need the following additional accounts:
Account # Account Name
18 Accumulated Depreciation-Office Equipment
22 Wages Payable
57 Insurance Expense
58 Depreciation Expense
The data needed to determine adjustments for the two-month period ending July 31, 2019, are as follows:
July 31: During July, PS Music provided guest disc jockeys for KXMD for a total of 115 hours. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600, which PS Music has already received payment for. Any additional hours beyond 80 will be billed to KXMD at $40 per hour.
Account Post. Ref. Debit Credit
July 31: Supplies on hand at July 31, $275.
Account Post. Ref. Debit Credit
July 31: The balance of the prepaid insurance account relates to the following July 1, 2019 transaction: "Paid a premium of $2,700 for a comprehensive insurance policy covering liability, theft, and fire. The policy covers a one-year period."
Account Post. Ref. Debit Credit
July 31: Depreciation of the office equipment is $50.
Account Post. Ref. Debit Credit
July 31: The balance of the unearned revenue account relates to the contract between PS Music and KXMD, described in the July 3, 2019 transaction, which included the following: "On behalf of PS Music, Peyton signed a contract with a local radio station, KXMD, to provide guest spots for the next three months. The contract requires PS Music to provide a guest disc jockey for 80 hours per month for a monthly fee of $3,600." In accordance with the contract, Peyton received $7,200 from KXMD as an advance payment for the first two months.
Account Post. Ref. Debit Credit
July 31: Accrued wages as of July 31, 2019, were $140.
Account Post. Ref. Debit Credit
Answer:
PS Music
Adjusting Journal Entries:
Debit Accounts receivable 12 $1,400
Credit Fees Earned 41 $1,400
To record extra services rendered. (115 - 80) * $40
Debit Supplies Expense 56 $745
Credit Supplies 14 $745
To record supplies used.
Debit Insurance Expense 57 $225
Credit Prepaid Insurance 15 $225
To record expired insurance expense ($2,700 * 1/12).
Debit Depreciation Expense -Office Equipment 58 $50
Credit Accumulated Depreciation-Office Equipment 18 $50
To record depreciation expense for the month.
Debit Unearned Revenue 23 $3,600
Credit Fees Earned 41 $3,600
To record fees earned.
Debit Wages Expense 50 $140
Credit Wages Payable 22 $140
To record accrued wages.
Explanation:
a) Data and Calculations:
PS Music
Unadjusted Trial Balance
July 31, 20Y5
Account No. Debit Balances Credit Balances
Cash 11 9,945
Accounts Receivable 12 2,750
Supplies 14 1,020
Prepaid Insurance 15 2,700
Office Equipment 17 7,500
Accounts Payable 21 8,350
Unearned Revenue 23 7,200
Common Stock 31 9,000
Dividends 33 1,750
Fees Earned 41 16,200
Wages Expense 50 2,800
Office Rent Expense 51 2,550
Equipment Rent Expense 52 1,375
Utilities Expense 53 1,215
Music Expense 54 3,610
Advertising Expense 55 1,500
Supplies Expense 56 180
Miscellaneous Expense 59 1,855
40,750 40,750
Analysis of Adjustments:
Accounts receivable 12 $1,400 Fees Earned 41 $1,400 (115 - 80) * $40
Supplies Expense 56 $745 Supplies 14 $745
Insurance Expense 57 $225 Prepaid Insurance 15 $225 ($2,700 * 1/12)
Depreciation Expense -Office Equipment 58 $50 Accumulated Depreciation-Office Equipment 18 $50
Unearned Revenue 23 $3,600 Fees Earned 41 $3,600
Wages Expense 50 $140 Wages Payable 22 $140
Assume that tea and lemons are complements and that coffee and tea are substitutes. An effective price ceiling on coffee would cause the _____ curve for lemons to shift _____. Hint: You will need to take a minute to think through this question. You can do it! Think about what is happening in all 3 markets (tea, lemons, coffee). Also, consider how much of each item is actually being exchanged.
Answer:
An effective price ceiling on coffee would cause the demand curve for lemons to shift to the left.
Explanation:
An effective price ceiling results in lower prices, increased demand, and shortages. Since tea and lemons are complement, a decrease in the price of coffee (substitute of tea) would result in a decrease in the demand for lemons (complement of tea). This means that the demand curve for lemons will shift to the left.
Kathy is an office manager at a growing law firm that specializes in pursuing awards for accident victims. She is assigned as the head of a problem-solving group to decide on where to locate a new, expanded office downtown. A major decision facing the group is whether to rent space in a sleek, new office building or to renovate space in a former factory building. The space in the old factory building would have brick walls and resemble a large loft.
Answer:
Kathy should seek quotes from various rental space providers.
Explanation:
Kathy should make a decision to rent of renovate the building based on cost. The major criteria for decision making is based on the monetary factors. Rent for the new space will be compared with the renovation cost in order to reach to a final decision.
A company purchased a 3-acre tract of land for a building site for $440,000. The company demolished the old building at a cost of $21,000, but was able to sell scrap from the building for $2,400. The cost of title transfer was $1,350 and attorney fees for reviewing the contract was $680. Property taxes paid were $7,500, of which $700 covered the period after the purchase date. The capitalized cost of the land is:
Answer:
$467,430
Explanation:
Calculation for The capitalized cost of the land is:
Purchase price $440,000
Demolition costs $21,000
Scrap sold ($2,400)
Title insurance $1,350
Legal fees $680
Property taxes ($7,500 – $700) $6,800
Total cost of land $467,430
Therefore The capitalized cost of the land is:$467,430
Kelsey's Kleening provides cleaning services for Clinton Inc., a business with four buildings. Kelsey's assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buildings are $35,000, $27,000, $45,000, and $10,000. Clinton secured this amount by signing a note bearing 7% interest on March 1, 2019.
Required:
a. Prepare the journal entry to record the sale on March 1, 2019.
b. Determine how much interest Kelsey will receive if the note is repaid on December 1, 2019.
c. Prepare Kelsey's journal entry to record the cash received to pay off the note and interest on December 1, 2019.
Answer:
A. Dr Note receivable $117,000
Cr Sales revenue $117,000
B. $6,143
C. Dr Cash $123,143
Cr Interest revenue $6,143
Cr Note receivable $117,000
Explanation:
A. Preparation of the journal entry to record the sale on March 1, 2019.
Dr Note receivable $117,000
Cr Sales revenue $117,000
($35,000+ $27,000+ $45,000+$10,000)
B. Calculation to Determine how much interest Kelsey will receive if the note is repaid on December 1, 2019.
Using this formula
Interest = Face value * interest rate *n/12
Note is outstanding for period of 1 March -1Dec 2019 = 9 months
Let plug in the formula
Interest = $117,000 *.07 *9/12
Interest = $6,143
C. Preparation of Kelsey's journal entry to record the cash received to pay off the note and interest on December 1, 2019.
Dr Cash $123,143
($117,000+$6,143)
Cr Interest revenue $6,143
Cr Note receivable $117,000
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction.
Susan spends all of her money on comic books and mandarins. In 2009 she earned $27.00 per hour, the price of a comic book was $9.00, and the price of a mandarin was $3.00.
Which of the following give the nominal value of a variable?
A) Susan's wage is 3 comic books per hour in 2009.
B) The price of a mandarin is 0.33 comic books in 2009.
C) The price of a mandarin is $3.00 in 2009.
Answer:
The price of a mandarin is $3.00 in 2009.
Explanation:
The classical dichotomy is an economic theory that postulates that ( real variables e.g. output and employment, are independent of monetary variables e.g. price
XYZ Corp. applies manufacturing overhead costs to products at a budgeted indirect-cost rate of $65 per direct manufacturing labor-hour. A retail outlet has requested a bid on a special order of a necklace. Estimates for this order include: Direct materials of $35,000; 250 direct manufacturing labor-hours at $25 per hour; and a 30% markup rate on total manufacturing costs.
Estimated total product costs for this special order equal________
Answer:
Total production costs= $57,500
Explanation:
Giving the following information:
Estimated manufacturing overhead rate= $65 per direct manufacturing labor-hour.
Direct materials of $35,000
250 direct manufacturing labor-hours at $25 per hour
First, we need to allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 65*250= $16,250
Now, the total production costs:
Total production costs= 35,000 + 25*250 + 16,250
Total production costs= $57,500
Scenario: You are a CEO of well-established and profitable software technology firm that has a choice to invest in one of two new software technologies; one that promises modest profit with very little risk and another that may yield a very high profit but at considerable risk. Keeping in mind cultural factors (social values/priorities, politics, economy, technology, regulation, etc.) Answer the following: 1. What would your choice be? 2. Who in your company might support the first technology and who might support the second? 3. Think about individuals from all levels of the company, from the CEO and board members down to R&D personnel. What considerations of your decision need to be made from a societal perspective? 4. Consider individuals outside of the company itself. How might the type of industry affect this type of decision?
Answer:
1. What would your choice be?
My choice would be the little risk, modest profit option, because the company is well-established, and at that point, it is not necessary to take on huge risks.
2. Who in your company might support the first technology and who might support the second?
Younger employees would probably support the second technology, while older, more established and secure employees like senior managers would be more likely to support the first technology.
3. Think about individuals from all levels of the company, from the CEO and board members down to R&D personnel. What considerations of your decision need to be made from a societal perspective?
How the investment decision will affect the different departments of the company, both at the department level, and at the individual level.
4. Consider individuals outside of the company itself. How might the type of industry affect this type of decision?
The type of industry affects the decision greatly because different industries have varying degrees of market risk. This market risk is often measured by a "beta", which is a measure or the deviation of an industry from the average market risk.