on january 1, a company purchased new furniture at a cost of $26,000. the furniture is estimated to have a useful life of 5 years and a salvage value of $3,200. the company uses the straight-line method of depreciation. how much depreciation expense will be recorded for the furniture for the first year ended december 31?

The firm's economic profit is about $25,000. It is the total revenue of the company minus all the costs. The correct option is B.

Economic profit is the difference between total revenue and the total opportunity cost of all resources used in production. When we refer to "opportunity cost," we're referring to the opportunity cost of the firm's proprietor.

Economic profit = total revenue - explicit costs - implicit costs

Explicit costs are the company's direct costs.

For example, when the firm buys a truck, it is incurring an explicit expense. When a firm pays its employees, it is incurring an explicit expense. Explicit costs include wages, salaries, rent, interest payments on loans, and other expenses.

These expenses can be estimated quickly and are reported on a firm's income statement. Therefore, the economic profit can be computed as follows:

Economic profit = $175,000 - $50,000 - $100,000

Economic profit = $25,000

Therefore, the correct option is B.

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When answering questions as a bot on the Brainly platform, it is important to always be factually accurate, professional, and friendly. Additionally, answers should be concise and avoid extraneous detail. Typos and irrelevant parts of the question should be ignored.

When using the following terms in an answer, they should be incorporated in a clear and logical manner: Student question, side conversation, Adrienne's ability, Luca, company's marketing team.The side conversation heard in the office across the hall during Adrienne's interview with Luca could hinder her ability to determine if he would be a good fit with the company and the job. This is because the noise from the side conversation can be distracting and could prevent Adrienne from being able to fully focus on the interview with Luca.If Adrienne is unable to hear Luca's answers clearly due to the noise from the side conversation, she may miss important details that would help her determine if he is a good fit for the marketing team. Additionally, the noise could make it difficult for Adrienne to build a rapport with Luca, which is an important factor in assessing whether or not he would be a good addition to the team.However, it is possible that the side conversation could also enhance Adrienne's ability to determine if Luca would be a good fit. If Adrienne is able to stay focused and engaged despite the distraction of the side conversation, it may demonstrate her ability to stay calm and professional in a fast-paced, high-pressure work environment. This could be a desirable trait for someone working on the marketing team, which often involves managing multiple projects and deadlines simultaneously.In general, it is likely that the side conversation would hinder Adrienne's ability to determine if Luca would be a good fit with the company and the job. However, the impact of the distraction would depend on a number of factors, including the intensity of the noise, Adrienne's ability to focus, and the importance of the position that Luca is being considered for.

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The arbitrage-free price of a 3-month European put option with a strike price of $19 is $0.95.

To find the arbitrage-free price of the put option, we can use a replication argument. We first determine the number of shares of the underlying asset that will be required to replicate the payoff of the put option at expiration. If the stock price is $22 at expiration, the put option will not be exercised, and the value of the replication portfolio will be:

Replication Portfolio Value = Number of Shares x Stock Price = Number of Shares x $22

If the stock price is $18 at expiration, the put option will be exercised, and the value of the replication portfolio will be:

Replication Portfolio Value = Number of Shares x Strike Price - Put Option Payoff = Number of Shares x $19 - $0.00

Since the put option has a strike price of $19, the number of shares required to replicate the put option payoff is:

Number of Shares = Put Option Payoff / (Stock Price - Strike Price) = $1 / ($22 - $19) = 1/3

Using this number of shares, we can create a replication portfolio by buying 1/3 share of the stock and borrowing (1/3) x $20 = $6.67 at the risk-free rate of 4% per annum with continuous compounding.

The value of the replication portfolio today is:

Replication Portfolio Value Today = [tex](1/3) \times $20 - $6.67 \times e^{(-0.04 x 0.25)[/tex]= $1.33

Therefore, the arbitrage-free price of the put option is the difference between the value of the replication portfolio and the option's intrinsic value:

Put Option Price = Replication Portfolio Value Today - Put Option Intrinsic Value = $1.33 - $0.38 = $0.95

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The PE ratio of a corporation shows the price at which investors are buying or selling its shares.

The price to earnings ratio (PE Ratio) calculates the share price in relation to the firm's annualised net income per share. Current investor demand for a firm share is shown by the PE ratio. Due to investors' expectations of future profits growth, a high PE ratio typically denotes greater demand.

Divides the current Price by the Earnings to determine the Price Earnings ratio. For instance, the PE Ratio will be 50 / 5 = 10 if the price is 50 and the earnings per share is 5.

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The United States Supreme Court decision that drastically altered the political landscape by allowing corporate and union election financing is the Citizens United v. Federal Election Commission (2010) decision.

The Supreme Court decision in Citizens United v. Federal Election Commission (2010) altered the political landscape by allowing corporate and union election financing.The decision overturned several provisions of the Bipartisan Campaign Reform Act of 2002, also known as the McCain-Feingold Act. The decision removed limits on the amount of money that corporations, unions, and other groups could spend on political campaigns. Before this decision, corporations and unions were prohibited from using their general treasury funds to make contributions to political candidates, parties, or other political committees that were independent of candidates.The decision resulted in the establishment of Super PACs, which are political action committees that can raise unlimited amounts of money from individuals, corporations, and unions to support or oppose candidates. These Super PACs may not coordinate with political candidates or political parties, but they can run advertisements that promote or attack political candidates.

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Long-term contracts are a low-cost alternative to vertical integration when it is possible to build cooperative relationships with suppliers.

A long-term contract is a contractual agreement between two parties that specifies the conditions and requirements for the transaction's performance over an extended period. The aim of a long-term contract is to establish a long-term relationship between the two parties, which involves predictable and consistent transactions that can be relied on to continue over a lengthy period. Long-term contracts are an essential component of supply chain management and help to ensure a stable supply of raw materials, finished goods, or services.

The advantages of Long-term Contracts are as follows: A low-cost alternative to vertical integration when it is possible to build cooperative relationships with suppliers. Generally, result in lower prices than competitive bidding. When there is a minimal need for cooperation, they are preferable to short-term contracts.

Achieve the same outcomes as vertical integration, but they incur lower bureaucratic costs. However, Long-term contracts are not preferable when it is not feasible to exchange hostages. Thus, the correct option is: Long-term contracts are a low-cost alternative to vertical integration when it is possible to build cooperative relationships with suppliers.

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The total income for Gilbert Construction for the contract to build a shopping center on March 15, 2019 is $0. The income statement for Gilbert Construction for the contract to build a shopping center on March 15, 2019 can be constructed using the cost-to-cost method.

The income statement is calculated by subtracting total costs from total revenue. The total revenue for the contract is $220 million, while total costs include the cash collections and contract costs as follows:

Income Statement = Total Revenue - Total Costs

Income Statement = $220 million - ($38 million + $182 million)

Income Statement = $220 million - $220 million = $0

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The amount shown as store supplies in the balance sheet columns of the work sheet is $255.

To calculate the amount of store supplies shown in the balance sheet columns, we need to adjust the unadjusted balance by the amount of supplies used during the period, as shown in the adjustments columns. This is because the unadjusted balance does not reflect the supplies that were used during the period.

To make this adjustment, we can subtract the credit of $325 for supplies used during the period from the unadjusted balance of $580. This gives us: $580 - $325 = $255

Therefore, the amount shown as store supplies in the balance sheet columns of the work sheet is $255. This reflects the adjusted balance of the store supplies account, which takes into account the supplies that were used during the period. This adjusted balance will be used to prepare the company's financial statements, including the balance sheet.

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When a company decides to increase its sales through international markets, it can achieve cost savings from economies of scale through all of the following except for spreading fixed costs over its global sales volume.

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Standard operating techniques (SOPs) can assist deliver uniformity to the way your crew works besides requiring manual oversight and instruction. Creating SOPs can help employees navigate complicated or difficult situations, keeping absolutely everyone on the same web page and decreasing bottlenecks so procedures pass efficiently.

Standard working strategies grant the policies, approaches and standards needed for the organization to succeed. They can benefit a commercial enterprise with the aid of reducing errors, increasing efficiencies and profitability, developing a safe work environment and producing pointers for how to unravel troubles and overcome obstacles.

By definition, standard running techniques (SOPs) are step-by-step procedures required to whole specific, repetitive tasks. Here are some examples of when you would possibly need an SOP: Customer carrier features like onboarding and offboarding clients. HR functions like recruiting new crew members

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Segregation of duties, depositing cash receipts in a bank on a timely basis, and preparing a bank reconciliation are internal control procedures used to safeguard a company's assets. Options A, B , and C are correct answers.

Thus, options A, B , and C are correct answers.

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The correct answer is: exempt from state income taxes but, not federal income taxes.

Treasury issues, also known as U.S. Treasury securities, are debt securities issued by the U.S. government to finance its operations and obligations. They come in various forms, including Treasury bills, notes, and bonds, and they are generally considered to be among the safest investments in the world.

One of the benefits of investing in Treasury issues is that they are exempt from state income taxes, but not from federal income taxes. This means that investors who hold Treasury issues do not have to pay state income taxes on the interest they earn, but they do have to pay federal income taxes on that interest.

Treasury issues are generally considered to have very low default risk, as the U.S. government has the power to tax and print money to make payments on its debts. Additionally, Treasury issues are issued for various periods, ranging from a few days to up to 30 years, but they are not issued for periods up to 50 years.

In summary, Treasury issues are exempt from state income taxes but not federal income taxes and are generally considered to be among the safest investments in the world with low default risk.

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When purchasing insurance, a premium is a cost that rises as the likelihood of a monetary loss increases.

The right response is transfer, the risk is transferred to the insurance business when an investor, in this situation, purchases an insurance cover. This indicates that the insurance company will compensate the insured should the risk covered by the policy materialise. Consequently, purchasing insurance is a method of transferring risk.

the monthly premium you pay for health insurance. You typically have to pay a deductible, copayments, and coinsurance in addition to your premium for your health care.

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As governor of Wisconsin, the progressive reformer Robert La Follette helped win approval for campaign finance reform, direct primary, and initiative and referendum. The correct option is:the direct primary, initiative, and referendum.

These reforms helped establish a more democratic government in Wisconsin.The Direct PrimaryThe direct primary is a voting method in which all party members in a jurisdiction cast ballots to select the party’s candidate for a particular public office. It is a crucial measure for democratic government. The Direct Primary enabled party members to vote for their preferred candidates directly. This process enabled the elimination of the control of the party bosses over the selection of candidates.InitiativeInitiative is a process in which a specific number of voters can petition the government to suggest a new law or change an existing law. This process provides an opportunity for the people to take action in situations where the elected officials are not responding to their needs.

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When making corrections for differences between their jobs and external benchmark jobs, companies can use job evaluation as a process. Job evaluation is the process of determining the relative worth of different jobs in an organization.

It entails comparing job roles and responsibilities, as well as determining the required knowledge and abilities. Companies use this approach to evaluate their workers' salaries and pay scales in comparison to the industry standard. The primary goal of job evaluation is to make certain that the work is paid for fairly, that is, according to the degree of skill, expertise, and decision-making it entails.

Companies use this process to determine the hierarchy of job roles and responsibilities and to identify opportunities for advancement. Job evaluation is generally based on a series of benchmark jobs that are utilized as reference points. These benchmark jobs are chosen from the organization's own set of jobs or from those of other businesses in the same sector.

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The given statement, "Cost-Volume-Profit (CVP) analysis is a financial tool used by companies to investigate the relationships between their costs, sales volume, and profits." is true.

It involves evaluating the impact of changes in costs, sales volume, and prices on the company’s overall profit. CVP analysis takes into account not only the company’s personnel policies, business values, and performance measures, but also the cost of goods sold, fixed costs, variable costs, sales revenue, and pricing.

By analyzing these factors, a company can understand how changes in one or more of these variables can affect its overall profit.

CVP analysis can be used to assess the sensitivity of profit to changes in different variables. This can help a company understand what factors are most important to its profitability, as well as determine optimal pricing, production levels, and resource allocation strategies.

It can also help a company identify ways to reduce its costs and increase sales revenue.

In conclusion, CVP analysis does investigate a company's personnel policies, business values, and performance measures, as it takes into account all the various factors that affect a company's profits.

It is a valuable tool that can help a company optimize its business strategies and increase its overall profitability.

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Job order costing applies overhead to jobs at a rate of 145 of direct labor costs. The direct labor costs for the job no. 2617 were 940, while the direct labor costs for the job were initially budgeted to be $885. The overhead applied to job no. 2617 during the period amounted to 1,363.

Direct labor cost is a type of cost incurred by a company that is directly associated with the production of goods or services. Direct labor costs are the wages, salaries, benefits, and other costs that a company incurs to compensate workers who are directly involved in the production process, such as assembly line workers, machine operators, and technicians.

Direct labor costs are considered to be variable costs, meaning they fluctuate with changes in production volume. This is because as production volume increases, the number of workers needed to produce the goods or services also increases, and so does the cost of labor.

Direct labor costs are an important part of calculating the total cost of producing a good or service, as they directly contribute to the cost of goods sold (COGS). To calculate direct labor costs, a company must add up all of the wages, salaries, and benefits paid to workers directly involved in the production process during a specific period of time, such as a month or a quarter.

The direct labor cost is 940 and the job order cost system applies overhead at a rate of 145 of direct labor costs. Therefore, the overhead applied to Job no. 2617 during the period is: 940 × 145

The overhead applied to Job no. 2617 during the period is 1,363.

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The overhead applied to job no. 2617 during the period amounted to [tex]1363[/tex]

Direct labor cost is a type of cost incurred by a company that is directly associated with the production of goods or services. Direct labor costs are the wages, salaries, benefits, and other costs that a company incurs to compensate workers who are directly involved in the production process, such as assembly line workers, machine operators, and technicians.

Direct labor costs are considered to be variable costs, meaning they fluctuate with changes in production volume. This is because as production volume increases, the number of workers needed to produce the goods or services also increases, and so does the cost of labor.

Direct labor costs are an important part of calculating the total cost of producing a good or service, as they directly contribute to the cost of goods sold (COGS). To calculate direct labor costs, a company must add up all of the wages, salaries, and benefits paid to workers directly involved in the production process during a specific period of time, such as a month or a quarter.

It's worth noting that direct labor costs do not include the cost of any workers who are not directly involved in the production process, such as administrative staff or salespeople. These costs are considered indirect labor costs and are typically treated as overhead expenses.

The direct labor cost is [tex]940[/tex] and the job order cost system applies overhead at a rate of [tex]145[/tex] direct labor costs. Therefore, the overhead applied to Job no. 2617 during the period is: [tex]940x145[/tex]The overhead applied to Job no. 2617 during the period is [tex]1363[/tex] .

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Unlike promoters, detractors are customers who give a score of 6 or below on the Net Promoter Score (NPS) scale.

Promoters are customers who give a score of 9 or 10, indicating high satisfaction and loyalty, while detractors are those who give a score of 6 or lower, indicating dissatisfaction and a higher likelihood of defection.

Detractors may or may not be satisfied customers who may switch to competitors, depending on the reasons for their lower scores. They are also not necessarily less price sensitive than promoters, as pricing is just one factor that can influence their satisfaction with a product or service. However, detractors do tend to defect at higher rates than promoters, as they are more likely to switch to a competitor or discontinue their relationship with the company.

Understanding the distribution of promoters, detractors, and passives (those who give a score of 7 or 8) on the NPS scale can provide valuable insights into customer satisfaction and loyalty, allowing companies to identify areas for improvement and develop strategies to increase customer loyalty and retention.

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The invoice price of the bond is $918 (rounded to two decimal places).

If you purchase a bond with a coupon rate of 8.4 percent, a par value of $1,000, and a clean price of $870, and the next semiannual coupon payment is due in five months, the invoice price will be $918. (Round your answer to two decimal places.)

A bond is a financial instrument that allows corporations or governments to raise money. The bond's issuer pays the investor interest, which is known as the coupon rate, at regular intervals. Bond prices fluctuate as interest rates rise and fall.

To find the invoice price of the bond, you need to use the following formula:

Invoice price = Clean price + Accrued interest

When calculating accrued interest, it's important to know how many days are left between the previous coupon date and the settlement date. The following equation will be used:

Accrued interest = Par value × Coupon rate × Days since the last coupon ÷ Days in a year

You must first determine how many days have passed between the last coupon payment and the settlement date of the bond because the coupon is due in five months.

Because the bond pays a semi-annual coupon, six months have passed since the last coupon was paid. Because we're calculating accrued interest, we need to figure out how many days of that six-month period have elapsed since the last coupon date.

Invoice price = Clean price + Accrued interest

Invoice price = $870 + Accrued interest

Accrued interest = Par value × Coupon rate × Days since the last coupon ÷ Days in a year

Accrued interest = $1,000 × 8.4% × 6 ÷ 12

Accrued interest = $42

Invoice price = $870 + $42

Invoice price = $918

Therefore, the invoice price of the bond is $918 (rounded to two decimal places).

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The statement ''first mover advantages are especially important in industries where the global market can profitably support only a limited number of firms is true as the  First mover advantages refer to the benefits that a company can gain by being the first to enter a new market or introduce a new product.

In industries where the global market can profitably support only a limited number of firms, first mover advantages are particularly important because the first company to enter the market can establish itself as the market leader and gain a significant market share before competitors enter.

This can lead to economies of scale, brand recognition, and customer loyalty, making it difficult for latecomers to compete effectively. Examples of such industries include the aerospace industry and the telecommunications industry, where there are only a few major players that dominate the market.

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Bank 2 must charge a nominal interest rate of 7.342% to provide the same effective annual rate as Bank 1.

This is calculated by solving the equation:  (1 + r/2)^2 = 1 + r/4, where r is the nominal interest rate of Bank 2. To solve the equation, first multiply both sides of the equation by 4, so that r is isolated on one side. This gives us the equation : 4*(1 + r/2)^2 = 4 + r . Next, expand the left side of the equation by using the binomial theorem: 4 + 4r + 2r^2 = 4 + r. Finally, subtract 4 from both sides and solve for r: 2r^2 + 4r - 4 = 0, Solving this quadratic equation gives us r = 7.342%.

This means that Bank 2 must charge a nominal interest rate of 7.342% to provide the same effective annual rate as Bank 1. This is rounded to three decimal places.

This calculation assumes that all payments will be made on time and there are no other fees or costs associated with the loan. To compare different banks and their loan options, it is important to factor in all costs and fees, not just the interest rate.

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An annuity that goes on indefinitely is called a perpetuity. The payments of a perpetuity constitute a perpetual series.

Example of a perpetual stock with an infinite time horizon Suppose that ABC Inc pays an annual dividend of $2.50 per share. A buyer is interested in purchasing ABC Inc's perpetual stock.

If the buyer wants an annual return of 5%, what should be the price of ABC Inc's stock? The buyer can use the perpetuity formula to determine the price of ABC Inc's stock.

Hence, the price of ABC Inc's stock should be: P = C / r = $2.50 / 5% = $50Since the buyer's required annual return is 5% and ABC Inc's perpetual stock pays an annual dividend of $2.50 per share, the price of the ABC Inc's stock should be $50.

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If an officer diverts a corporation opportunity, the corporation may recover from the officer the funds used to divert the corporate opportunity. The answer is A. double damages for breach of a fiduciary duty.

A corporation can recover from an officer if the officer diverts a corporation opportunity. The corporation may recover from the officer double damages for breach of a fiduciary duty and not any funds used to divert the corporate opportunity.

The double damages may include, but not limited to lost profits, benefits or compensation that would have been earned had the corporate opportunity not been diverted.

It is also important to note that the officer has the duty to deal with the corporation in good faith and with loyalty. Failing to do so will amount to breach of fiduciary duty which may lead to recovery of double damages by the corporation. Therefore, the answer is A. double damages for breach of a fiduciary duty.

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Jane's Donut Co. should report interest expense at December 31, 2021, in the amount of $18,270.

Jane's Donut Co. borrowed $203,000 on January 1, 2021, at an interest rate of 9%. Interest is payable in full at maturity on January 1, 2023.

Since the interest is not paid until the maturity date, the interest expense at December 31, 2021, would be the amount of interest that has accrued on the note from January 1, 2021, to December 31, 2021, which is 12 months.

The interest expense can be calculated as:

Interest Expense = Principal x Interest Rate x Time

Interest Expense = $203,000 x 0.09 x (12/12) = $18,270

Therefore, Jane's Donut Co. should report interest expense at December 31, 2021, in the amount of $18,270.

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The CISA credential is promoted by ISACA as the certification that is appropriate for all.

The CISA credential is promoted by ISACA as the certification that is appropriate for all professionals.

Including accounting, auditing, security, and networking. This statement means that none of the alternatives provided in the question are correct, so the correct answer is "none of the above. "

The Certified Information Systems Auditor (CISA) credential is a globally recognized standard for auditing, assessing, and controlling enterprise IT and business systems' risks and vulnerabilities. This credential is recognized worldwide and assures employers that the candidate has the knowledge and skills necessary to manage an enterprise's IT system's risks and vulnerabilities.

Candidates who wish to apply for the CISA credential must pass an exam and satisfy all other certification requirements from ISACA.

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To calculate the effective annual interest rate on the line of credit, we will first calculate the cost of borrowing for one quarter and then multiply by four to get the annual cost. We are given that the loan agreement calls for the company to pay 1.44% per quarter on any funds borrowed and maintain a 5% compensating balance on any funds borrowed at zero percent interest.

Therefore, the effective annual interest rate on this line of credit is approximately 1.44%.

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The strategy Chobani used by launching Chobani Probiotics, a plant-based drink, is referred to as product diversification.

This strategy involves expanding a company's product line to reach a wider target audience and increase market share.

In Chobani's case, the company is known for its yogurt products, but it decided to introduce a new, different product - Chobani Probiotics, a plant-based drink. This move aims to appeal to customers who are interested in plant-based and probiotic products, potentially attracting a new consumer base. The steps involved in product diversification include:

1. Identifying market opportunities or consumer needs

2. Researching and developing new products that cater to those needs
3. Launching and promoting the new product to reach the target audience
4. Evaluating the product's performance in the market and making adjustments as necessary

By implementing product diversification, companies like Chobani can expand their reach, grow their business, and minimize risks associated with relying on a single product line.

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In the following question, among the various parts to solve on electric installs, 1- 3,500 Sales. 2- 600 Sales Returns and Allowances. 3- 2,900Accounts Receivable. 4- transactions are $2,900.

1. Credit sale recorded on April 25.Accounts Receivable | 3,500 Sales | 3,500

Explanation: On April 25, Foreman Electric installs wiring in a new home and makes a credit sale. The account Receivable will be increased by $3,500 and Sales will also be increased by $3,500.

2. Record the sales allowance on April 27. Accounts Receivable | 600 Sales Returns and Allowances | 600

Explanation: On April 27, Foreman's electrical work does not pass the inspection and he has to allow the customer $600. In this case, Accounts Receivable will be decreased by $600 because of the allowance is given to the customer and the Sales Returns and Allowances account will be increased by $600.

3. Record the cash collection on April 30.Cash | 2,900Accounts Receivable | 2,900Explanation: On April 30, the customer pays Foreman Electric the total owed balance except for the allowance granted. In this case, Cash will be increased by $2,900 and the Accounts Receivable account will be decreased by $2,900.

4. Net Sales CalculationNet sales = Gross sales - Sales returns and allowances= $3,500 - $600= $2,900Hence, the net sales associated with these transactions is $2,900.

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The accounting errors from the following list are using a different depreciation method, changing from LIFO to FIFO, making a mistake in calculating depreciation expense, and forgetting to accrue salary expense. The correct options are (A), (B), (C), and (D).

Accounting errors refer to the unintentional mistakes in financial reporting due to different reasons such as human error, a lack of accounting knowledge, misunderstandings, or technological glitches. Accounting errors may result in the misstatement of financial reports and result in misleading information that can cause a business to lose money or miss out on potential opportunities.

Accounting errors can occur in several ways, including omission, overstatement, understatement, and double-entry errors.The given options are:Using a different depreciation method.Changing from LIFO to FIFO.Making a mistake in calculating depreciation expense.Forgetting to accrue salary expense. Hence, the correct options are (A), (B), (C), and (D).

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The two types of departmentalization illustrated in this example are product departmentalization and geographic departmentalization.

Product departmentalization is the grouping of activities and people based on the products or services they produce or offer. In this case, Spicy Dish has separate business units for North America salsa and North America legume, which implies that these units are responsible for the production, distribution, and marketing of salsa and legume products respectively.

Geographic departmentalization, on the other hand, is the grouping of activities and people based on their location or geography. In this case, Spicy Dish has business units for Latin America and Europe/Asia, indicating that these units are responsible for the production, distribution, and marketing of products in their respective regions.

By combining both product and geographic departmentalization, Spicy Dish can achieve better coordination and control over their operations. Each business unit can focus on their specific product line while also adapting to the local market conditions and cultural differences in the regions they operate in. This approach can improve efficiency and customer satisfaction while also enhancing the company's ability to respond quickly to changing market demands.

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