Answer:
9.24 days
Explanation:
Calculation for How long does it take for the firm's credit customers to pay for their purchases
First step is to calculate Receivables turnover
Using this formula
Receivables turnover=Sales/Average accounts receivable
Let plug in the formula
Receivables turnover = $387,000/$9,800
Receivables turnover= 39.48979592
Last step is to calculate the Receivables period using this formula
Receivables period = Numbers of days in a year/Receivables turnover
Let plug in the formula
Receivables period = 365 days/39.48979592
Receivables period = 9.24 days
Therefore How long does it take for the firm's credit customers to pay for their purchases is 9.24 days
A team leader sees that a colleague is struggling to finish a project because he has his son’s upcoming biopsy on his mind. She sits down to ask him how he is feeling about the procedure. This is an example of consideration behavior. true or false?
It is true that if a A team leader sees that a colleague is struggling to finish a project because he has his son’s upcoming biopsy on his mind. this is a consideration behavior.
What is a consideration behavior?
This is the term that is used to refer to all of the behaviors that can be considered to be supportive and also friendly to other people. This is the person that seeks and tries to understand other people.
Hence the way that the leader goes about to talk to the colleague on the issue that he is facing in his family tells us that she is a considerate person.
Read more on considerate behavior here
https://brainly.com/question/26769473
#SPJ1
Denise has $13,424 in a savings account with the District 113 Teacher's Credit Union. While economic conditions have caused the credit union to struggle financially, Denise need not worry because her deposits are insured by the:
Answer:
Explanation:
$120= the amount to pay for the shoe
$20 paid for the month
Balance to pay = $100
Then 3% interest rate on credit card = 3% of $100=$3
Therefore amount to pay = $3+$100=$103
The Rock Company produces basketballs. It incurred the following costs during the year.
Direct materials $14,400
Direct labor $25,600
Fixed manufacturing overhead $12,000
Variable manufacturing overhead $29,400
Selling costs $21,000
What are the total product costs for the company under absorption costing?
Answer:
Total cost under absorption costing= $81,400
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Direct materials $14,400
Direct labor $25,600
Fixed manufacturing overhead $12,000
Variable manufacturing overhead $29,400
Total cost under absorption costing= $81,400
Randolph Corporation sells a single product at a price of $275 per unit. Variable cost per unit is $135 and fixed costs total $356,860. If sales are expected to be $825,000, what is the company's margin of safety
Answer:
Margin of Safety = $124,038
Explanation:
Given:
Total Sale = $825,000
Sales price = $275 per unit
Variable cost per unit = $135
Fixed costs total = $356,860
Find:
Margin of Safety
Computation:
BEP Sale = FC / [(Sales per unit - VC) / Sales per unit]
BEP Sale = $700,962
Margin of Safety = Total Sale - BEP Sale
Margin of Safety = $825,000 - $700,962
Margin of Safety = $124,038
Suppose the demand for a price maker’s product is estimated to be Qd = 100 – 2P and its total cost function is C(Q) = 10Q. Under first-degree price discrimination, what will be the firm’s profits?
Answer: See explanation
Explanation:
From the question,
Qd = 100 – 2P
We have to use the subject of the formula to get the expression for Price(P). This will be
2P = 100 - Qd
P= (100 - Qd) /2
P = 50 - 0.5Q
Also, C(Q) = 10Q
MC = 10
Since P = MC
50 - 0.5Q = 10
Collect like terms.
50 - 10 = 0.5Q
0.5Q = 40
Q = 40/0.5
Q = 80
Recall that,
P = 50 - 0.5Q
= 50 - 0.5(80)
= 50 - 40
= 10
The profit will be calculated as:
= TR - TC
where,
Total revenue = Price × Quantity
= 80 × 10 = 800
Total cost = 10Q = 10 × 80 = 800
Profit = 800 - 800 = 0
The communication process begins with a messenger, also known as the person who receives the message.
The given statement is false. The correct statement is given below:
The communication process begins with a messenger, also known as the person who sends the message to the receiver.
Communication is important to the lifestyles and survival of human beings as well as to a business enterprise. it's miles a way of making and sharing thoughts, information, perspectives, statistics, and feelings from one vicinity, man or woman, or organization to another. communique is the crucial component of the Directing characteristic of manipulation. communique is the act of giving, receiving, and sharing statistics -- in different words, speaking or writing, and listening or studying. precise communicators pay interest carefully, communicate or write clearly, and respect awesome evaluations.
Anyone has a unique verbal exchange fashion, a manner in which they interact and change facts with others. There are four easy conversation patterns: passive, aggressive, passive-competitive, and assertive.
Learn more about communication here: https://brainly.com/question/26152499
#SPJ9
The following sentence has only one error
The position descriptions must be publicize in orders to in form our candidate pool of the opening
Answer: the only error I see is that you don't have a period at the end of your sentence
you don't have any spelling errors either soooooo I don't know what else your asking for
Explanation:
The only error I see is that you don't have a period at the end of your sentence. As the sentence is The position descriptions must be publicize in orders to in form our candidate pool of the opening.
What is meant by error?Willful or careless transgression of a code of conduct. An error that was unintentionally made in the truth or correctness while calculating the bill. The definition of an error is a mistake or the state of being inaccurate. A mistake is made if you multiply 2 by 2 and get 5.
A mistake is when it leads you to draw the incorrect conclusion about a collusion and you continue to do so. Mistakes are accidents. Even though you know it's wrong, the improper word nonetheless manages to escape your mouth.
An error, on the other hand, is something you are not aware of. You still need to be aware of the subtleties of either vocabulary or grammar.
Thus, The only error I see is that you don't have a period at the end of your sentence.
For more information about error, click here:
https://brainly.com/question/19575648
#SPJ2
You own a portfolio equally invested in a risk-free asset and two stocks. If one of the stocks has a beta of 1.08 and the total portfolio is equally as risky as the market, what must the beta be for the other stock in your portfolio?
Answer: 0.92
Explanation:
Beta is a measure of riskiness and Market beta is always 1.
The total portfolio therefore has a beta of 1.
Portfolio Beta is weighted average of the betas of the composite stocks.
The stocks are equally invested in so their weights are 0.5.
Assume the beta needed is x.
(0.5 * 1.08) + (0.5 * x) = 1
0.54 + 0.5x = 1
0.5x = 1 - 0.54
x = 0.46/0.5
= 0.92
Suppose that Rajiv, an economist from a research institute in Texas, and Simone, an economist from a public television program, are arguing over government bailouts. The following dialogue shows an excerpt from their debate:
Simone: Thanks to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days.
Rajiv: Indeed, it's gotten crazy! A government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets.
Simone: I don't know about that. Without a bailout of severely distressed financial firms, the economy will experience a deep recession.
The disagreement between these economists is most likely due todifferences in scientific judgments .
Despite their differences, with which proposition are two economists chosen at random most likely to agree?
Business managers can raise profit more easily by reducing costs than by raising revenue.
Employers should not be restricted from outsourcing work to foreign nations.
Central banks should focus more on maintaining low unemployment than on maintaining low inflation.
Employers should not be restricted from outsourcing work to foreign nations.
The proposition are two economists chosen at random most likely to agree: Employers should not be restricted from outsourcing work to foreign nations.
What do you mean by outsourcing?Outsourcing is known to be a kind of an agreement where a single firm tends to hires another firm to be solely responsible for a given planned or existing activity.
Note that Outsourcing is seen as the a business practice where a firm hires a third-party to carry out functions and as such, Employers should not be restricted from outsourcing work to foreign nations. The proposition are two economists chosen at random most likely to agree: Employers should not be restricted from outsourcing work to foreign nations.
Learn more about outsourcing from
https://brainly.com/question/4456416
#SPJ1
Which of these are considered advantages of small business ownership? Check all that apply.
Employees depend on you for their livelihood.
You don't report to anyone else.
Control of your own schedule.
Personal satisfaction from your success.
The following are considered advantages of small business ownership:
You don't report to anyone else.Control your own schedule.Personal satisfaction from your success.The Benefits of Owning a Small Business:
Control and independence: As a business owner, you have complete control over your revenue, spending, and debt. All crucial decisions are made by you. You are unconcerned by the vagaries of office politics.Freedom and Way of Life: You may work when and where you choose and establish your own hours. If you value family time, you may wish to run your business from home to save a commute. Your company may be a complete manifestation of who you are. Owning your own business, particularly for women, may provide the lifestyle freedom required to raise a family while also having a successful job. Due to a lack of job possibilities and a preference for lifestyle over money, millennials who grew up with computers have resorted to entrepreneurship. Countless Financial Advantages: Assuming you have a high financial risk tolerance, there is no limit to the quantity of sales and profits your firm may generate; and by running your own business, you gain from your own hard work. You may decide to raise and leverage money for your new firm through investor financing rather than your own.Personal Satisfaction, Growth, and Creative Freedom: As a business owner, you should be doing something you like. You may create something that will become part of your legacy, and you can turn your talents, hobbies, and passions into revenue. Finally (and with a little luck), you'll earn personal gratification from executing your ideas, working directly with consumers, and watching your firm thrive.Tax Advantages: Most nations' tax regulations are designed to decrease the taxes paid by business owners, and almost all business costs are often deductible, lowering a company's taxable revenue. Gains are frequently subject to reduced long-term capital gains taxes.Hence, the answer is as mentioned above.
Learn more about small business:
https://brainly.com/question/24357323
#SPJ9
Big Blue Rental Corporation provides rental agent services to apartment building owners. Big Blue Rental Corporation’s preliminary income statement for August 2022 and its August 31, 2022, preliminary balance sheet did not reflect the following: Rental commissions of $690 had been earned in August but had not yet been received from or billed to building owners. When supplies are purchased, their cost is recorded as an asset. As supplies are used, a record of those used is kept. The record sheet shows that $550 of supplies were used in August. Interest on the note payable is to be paid on May 31 and November 30. Interest for August has not been accrued—that is, it has not yet been recorded. (The Interest Payable of $100 on the balance sheet is the amount of the accrued liability at July 31.) The interest rate on this note is 10%. Wages of $450 for the last week of August have not been recorded. The Rent Expense of $1,590 represents rent for August, September, and October, which was paid early in August. Interest of $470 has been earned on notes receivable but has not yet been received. Late in August, the board of directors met and declared a cash dividend of $4,700, payable September 10. Once declared, the dividend is a liability of the corporation until it is paid. Required: Using the columns provided on the income statement for Big Blue Rental Corporation, make the appropriate adjustments or corrections to the statements, and enter the correct amount in the Final column. (Hint: Use the five questions of transaction analysis.) Using the columns provided on the balance sheet for Big Blue Rental Corporation, make the appropriate adjustments or corrections to the statements, and enter the correct amount in the Final column. (Hint: Use the five questions of transaction analysis.)
Answer:
Explanation: Big Blue Rental Corp. provides rental agent services to apartment building owners. Big Blue Rental Corp.’s preliminary income statement for August 2016 and its August 31, 2016, preliminary balance sheet did not reflect the following:
Rental commissions of $1,500 had been earned in August but had not yet been received from or billed to building owners.
When supplies are purchased, their cost is recorded as an asset. As supplies are used, a record of those used is kept. The record sheet shows that $1,080 of supplies were used in August.
Interest on the note payable is to be paid on May 31 and November 30. Interest for August has not been accrued—that is, it has not yet been recorded. (The Interest Payable of $240 on the balance sheet is the amount of the accrued liability at July 31.) The interest rate on this note is 10%.
Wages of $780 for the last week of August have not been recorded.
The Rent Expense of $3,060 represents rent for August, September, and October, which was paid early in August.
Interest of $840 has been earned on notes receivable but has not yet been received.
Late in August, the board of directors met and declared a cash dividend of $8,400, payable September 10. Once declared, the dividend is a liability of the corporation until it is paid.
Bonds that have an option giving the issuer the right to retire them at a stated dollar amount before maturity are known as:A. Callable bonds.B. Serial bonds.C. Convertible bonds.D. Junk bonds.E. Sinking fund bonds.
Answer:
A. Callable bonds.
Explanation:
The bond that have an option to give the right to the issuer to retired the bond at the stated amount but it should be before the maturity so the same we known as callable bond
Hence, the correct option is A
Therefore all the other options would be incorrect
The same is to be considered and relevant
6) True or False: People tend to care about old news more than they do new news.
7) True or False: The following are aspects of what it means to be newsworthy: proximity,
6) False. People tend to care more about old news than new news.
7) True. The following are aspects of what it means to be newsworthy: proximity, timeliness, immediate, and current information.
What is news?News is a report of information about current events.
News can come from the following sources or media:
NewspaperTelevisionRadioInternetGrapevine.What are the characteristics of newsworthy news?For news to be newsworthy, attention-grabbing, and effective, it must possess the following features:
TimingProximitySignificanceHuman interestNoveltyProminence.News editors and casters use creative and catchy headlines to get listeners and readers to pay attention to their news broadcasts.
Thus, people do not care about old news as they do about new news.
Learn more about news at https://brainly.com/question/943780
#SPJ1
9. You are the manager of College Computers, a manufacturer of customized
computers that meet the specifications required by the local university. Over 90
percent of your clientele consists of college students. College Computers is not
the only firm that builds computers to meet this university's specifications;
indeed, it competes with many manufacturers online and through traditional
retail outlets. To attract its large student clientele, College Computers runs a
weekly ad in the student paper advertising its "free service after the sale" policy
in an attempt to differentiate itself from the competition. The weekly demand
for computers produced by College Computers is given by
Q = 1000 - P
and its weekly cost of producing computers is
C = 2 000 + Q²
If other firms in the dustry sell PCs at $600, what price and quantity of
computers should you produce to maximize your firm's profits? What long run
adjustments should you anticipate? Explain. [5 marks]
To maximise its profit in the market, the company will offer 80 PCs for $360.
CALCULATION
The market for college computers is intensely competitive. The weekly demand curve for computers in colleges is (Q) = 800 - 2P.
P = 400 - 0.5QTotal weekly earnings (TR) = P*Q
TR = 400Q - 0.5Q2MR = 'partialTR / 'MR = 400 - QThe cost of making computers each week is C(Q) = 1200 + 2Q2.
MC = partialC(Q) divided by partialQMC = 4QWhen MR = MC, the company will make the most money. Comparing marginal income with marginal expenditure.
400 - Q = 4QAdd "Q" to both sides.400 = 5QQ=80 computer systems80 units is the ideal output for college computers.
The will decide on the best price at,
P = 400 - 0.5 (80)P = 400 - 40P=$360 for each computer.Total weekly earnings (TR) = 360 * 80
TR = $28800TC = 1200 + 2(80)2TC = 1200 + 12800TC = $14000Total revenue from college computers = TR - TC
Profit: 28800 minus 14,000Gain = $14,800Therefore to maximise its profit in the market, the company will offer 80 PCs for $360.
To Learn more about maximisng profits, click the links.
https://brainly.com/question/410554
#SPJ9
How does free trade promote prosperity?
The way that free trade helps to promote prosperity is that the nations that trade freely with each other would have faster growth, be more innovative and also be able to provide more opportunities for the people in their nations.
What is free trade?This is the term that is used to refer to the removal of trade barriers that would help nations to be able to engage in economic activates with one another. This is one of the ways that nations are able to get themselves to grow. This would be transfer of goods and services without any forms of restrictions between the different countries.
Hence we can conclude that The way that free trade helps to promote prosperity is that the nations that trade freely with each other would have faster growth, be more innovative and also be able to provide more opportunities for the people in their nations.
Read more on free trade here: https://brainly.com/question/10608502
#SPJ1
Which payment method is actually a way of borrowing money that has to be paid back later?
Debit
Credit card
Cash
checks
COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST.
PLSS ANSWER ASAP.
Direction: Identify the following. Write Strength, Weakness, Opportunities orThreat on the line.
1. Weak Leadership -
2. Strong Competition-
3. Popular Brand -
4. Competitive Salary-
5. Incompetent Manager-
6. Wide Range of Customers -
7. Reasonable Price -
8. Money Devaluation -
9. Unskilled Workers-
10. High Cost of Importation of Raw Materials -
Strength, Weakness, Opportunities, or Threat is displayed on the line.
1. Weakness in weak leadership
2. Opportunity despite Strong Competition
3. strength is well-known brands
4. Strength is Salary Competition
5. Unqualified Manager - flaw
6. Numerous Customers - Possibility
7. Reasonable Cost - Chance
8. The threat of money devaluation
9. Weakness: Unskilled Workers
10. A weakness is the high cost of importing raw materials.
What is SWOT analysis and what does it look like?A framework known as a SWOT analysis is used to identify and evaluate an organization's strengths, weaknesses, opportunities, and threats. The acronym SWOT is composed of these words. SWOT analysis's main objective is to raise awareness of the elements that influence business decisions and the formulation of business strategies.
SWOT (strengths, weaknesses, opportunities, and threats) analysis is a technique for determining and assessing internal strengths and weaknesses as well as external opportunities and threats that have an impact on present and future operations and aid in the development of strategic goals.
Learn more about SWOT analysis: https://brainly.com/question/15049486
#SPJ9
QUESTION 20
Shawn Sine decides to start his own business. How likely is Shawn to still be operating a successful business in five years?
a. It depends on whether it is an e-business or not.
b. It is very unlikely because almost all new businesses fail within the first five years.
c. It is likely because the chance of failure is nearly equal to the chance for success.
d. It is very likely because most small businesses are successful.
e. It is unlikely because well over half of new small businesses fail.
Based on the fact that this is a new business, in five years, the likelihood of Shawn Sine operating a successful business is c. It is likely because the chance of failure is nearly equal to the chance for success.
How many new businesses survive?It has been shown by research that around 45% of businesses will close down within the first five years.
This means that 55% will still be going. This means that Shawn might be operating a successful business in five years because the chances of failure (45%) are close to those of success (55%).
Find out more on new businesses at https://brainly.com/question/12206529
#SPJ1
in a period of rising prices, the inventory method which tends to give the highest cost of goods sold value is
Answer:
First In, First Out (FIFO).
Explanation:
FIFO is an acronym for "First In, First Out" and it assumes oldest unit of inventory is sold first, meaning goods that were first added to inventory are the first goods removed from inventory for sale and are recorded as sold first.
FIFO can be defined as an accounting methods used in managing costs related to inventory, stock repurchases at different times and financial activities associated with monetary costs a company had tied up within inventory of feedstocks, raw materials, produced goods, and equipment parts.
Simply stated, FIFO is an accounting methods used for the valuation of the cost of goods sold and ending inventory of a company.
In a period of rising prices, the inventory method which tends to give the highest cost of goods sold value is First In, First Out (FIFO). This is because the more recent costs represent the higher (rising) net income and a higher (rising) inventory valuation costs.
define accounting element in detail with the help of accounting equation?Expalin In your words?
Answer and Explanation:
There are three main accounting elements that are as follows
1. Assets: Assets means the resources that are owned through which the future benefits would be anticipated. It is a properties owned by the business
2. Liabilities: The liabilities are the obligations that the company or an individual have to pay
3. Equity: The equity is the amount invested in the business, it also records the withdrawals, income and expenses etc
Now the accounting equation would be
Total assets = Total liabilities + total equity
The sum of total liabilities and total equity is known as total assets
Josiah started a new business venture five years ago. The business allows them
to work from anywhere as long as they have an Internet connection. Josiah is
able to pursue their love for travel without sacrificing their career. Which type
of entrepreneur best describes Josiah?
The small business type of entrepreneur best describes Josiah.
This kind of entrepreneurship refers to any form of small enterprise that has been created with the aid of one character, without the goal to enlarge or franchise.
Small business entrepreneurship is often whilst a person owns and runs their own commercial enterprise. They typically lease nearby employees and family participants. neighborhood grocery stores, hairdressers, small boutiques, specialists and plumbers are a part of this class of entrepreneurship.
Small business entrepreneurship is the concept of beginning a enterprise with out turning it right into a massive conglomerate or commencing many chains. A single-area eating place, one grocery shop, or a retail store to promote your handmade items might all be an example of small commercial enterprise entrepreneurship.
Learn more about entrepreneurship here: https://brainly.com/question/22477690
#SPJ9
Answer:
lifestyle entrepreneur
Explanation:
Just got it
Money made from the sale of a good or service is called
Loss
Expenses
Revenue
Salary
On November 1, 20Y9, Lexi Martin established an interior decorating business, Heritage Designs. During the month, Lexi completed the following transactions related to the business:
Nov. 1 Lexi transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $27,200.
1 Paid rent for period of November 1 to end of month, $4,000.
6 Purchased office equipment on account, $12,820.
8 Purchased a truck for $30,800 paying $6,900 cash and giving a note payable for the remainder.
10 Purchased supplies for cash, $1,650.
12 Received cash for job completed, $8,000.
15 Paid annual premiums on property and casualty insurance, $2,300.
23 Recorded jobs completed on account and sent invoices to customers, $12,000.
24 Received an invoice for truck expenses, to be paid in November, $1,190.
Enter the following transactions on Page 2 of the two-column journal:
Nov. 29 Paid utilities expense, $3,560.
29 Paid miscellaneous expenses, $1,800.
30 Received cash from customers on account, $7,500.
30 Paid wages of employees, $4,750.
30 Paid creditor a portion of the amount owed for equipment purchased on November 6, $6,230.
30 Paid dividends, $2,000.
General Journal?
General Ledger?
Unadjusted Trial Balance?
Answer:
Explanation:
(1) Journalizing the Transactions:-
Heritage Designs
General Journal
For the Month of November,20Y9
Date Accounts Debit Credit
Nov. 1 Cash $50,000
Common Stock $50,000
Nov. 1 Rent Expense $4,000
Cash $4,000
Nov. 6 Office Equipment $15,000
Accounts Payable $15,000
Nov. 8 Truck $38,500
Cash $5,000
Notes Payable $33,500
Nov. 10 Supplies $1,750
Cash $1,750
Nov. 12 Cash $11,500
Fees Earned $11,500
Nov. 15 Prepaid Insurance $2,400
Cash $2,400
Nov. 23 Accounts Receivable $22,300
Fees Earned $22,300
Nov. 24 Truck Expense $1,250
Cash $1,250
Nov. 29 Utilities Expense $4,500
Cash $4,500
Nov. 29 Miscellaneous Expense $1,000
Cash $1,000
Nov. 30 Cash $9,000
Accounts Receivable $9,000
Nov. 30 Wages Expense $6,800
Cash $6,800
Nov. 30 Accounts Payable $3,000
Cash $3,000
Nov. 30 Dividends $2,500
Cash $2,500
(2) Posting the each Transaction into General Ledger:-
Cash
Date Items Debit Credit Balance
Nov. 1 Common Stock $50,000 $50,000
Nov. 1 Rent Expense $4,000 $46,000
Nov. 8 Truck $5,000 $41,000
Nov. 10 Supplies $1,750 $39,250
Nov. 12 Fees Earned $11,500 $50,750
Nov. 15 Prepaid Insurance $2,400 $48,350
Nov. 24 Truck Expense $1,250 $47,100
Nov. 29 Utilities Expense $4,500 $42,600
Nov. 29 Miscellaneous Expense $1,000 $41,600
Nov. 30 Accounts Receivable $9,000 $50,600
Nov. 30 Wages Expense $6,800 $43,800
Nov. 30 Accounts Payable $3,000 $40,800
Nov. 30 Dividends $2,500 $38,300
Accounts Receivable
Date Items Debit Credit Balance
Nov. 23 Fees Earned $22,300 $22,300
Nov. 30 Cash $9,000 $13,300
Supplies
Date Items Debit Credit Balance
Nov. 10 Cash $1,750 $1,750
Prepaid Insurance
Date Items Debit Credit Balance
Nov. 15 Cash $2,400 $2,400
Equipment
Date Items Debit Credit Balance
Nov. 6 Accounts Payable $15,000 $15,000
Truck
Date Items Debit Credit Balance
Nov. 8 Cash $5,000 $5,000
Nov. 8 Notes Payable $33,500 $38,500
Notes Payable
Date Items Debit Credit Balance
Nov. 8 Truck $33,500 $33,500
Accounts Payable.
Date Items Debit Credit Balance
Nov. 6 Equipment $15,000 $15,000
Nov. 30 Cash $3,000 $12,000
Common Stock
Date Items Debit Credit Balance
Nov. 1 Cash $50,000 $50,000
Dividends
Date Items Debit Credit Balance
Nov. 30 Cash $2,500 $2,500
Fees Earned
Date Items Debit Credit Balance
Nov. 12 Cash $11,500 $11,500
Nov. 23 Accounts Receivable $22,300 $33,800
Wages Expense
Date Items Debit Credit Balance
Nov. 30 Cash $6,800 $6,800
Rent Expense
Date Items Debit Credit Balance
Nov. 1 Cash $4,000 $4,000
Utilities Expense
Date Items Debit Credit Balance
Nov. 29 Cash $4,500 $4,500
Truck Expense
Date Items Debit Credit Balance
Nov. 24 Cash $1,250 $1,250
Miscellaneous Expense
Date Items Debit Credit Balance
Nov. 29 Cash $1,000 $1,000
(3) Preparing Unadjusted Trial Balance:-
Heritage Designs
Unadjusted Trial Balance
November 30,20Y9
No. Accounts Title Debit Credit
1 Cash $38,300
2 Accounts Receivable 13,300
3 Supplies 1,750
4 Prepaid Insurance 2,400
5 Equipment 15,000
6 Truck 38,500
7 Notes Payable $33,500
8 Accounts Payable 12,000
9 Common Stock 50,000
10 Retained Earnings 0
11 Dividends 2,500
12 Fees Earned 33,800
13 Wages Expense 6,800
14 Rent Expense 4,000
15 Utilities Expense 4,500
16 Truck Expense 1,250
17 Miscellaneous Expense 1,000
Totals $129,300 $129,300
(4) Determining the excess of revenues over expenses for November:-
Preparing Income Statement:-
Heritage Designs
Income Statement
For the Month Ended November 30,20Y9
Accounts Amount Amount
Fees Earned $33,800
Less:- Expenses
Wages Expense $6,800
Rent Expense 4,000
Utilities Expense 4,500
Truck Expense 1,250
Miscellaneous Expense 1,000
Total Expenses $(17,550)
Revenues over Expenses $16,250
Revenues over expenses for the month of November is $16,250.
(5) The amount determined in (4) might not be the net Income for November Because necessary adjustments to Expenses, like Depreciation has not made. So the amount not net Income for November.
Which of the following it NOT a position in the Administrative Support pathway?
A. Teacher
B. Medical Transcriptionist
C. Receptionist
D. Administrative Assistant
Teacher is not a position in the Administrative Support Pathway. The administrative support pathway covers careers that assist corporate operations through a range of administrative and clerical tasks, such as project management, data processing and gathering, and information and communication management.
The administrative support assistant assists with a number of academic or administrative units' general administrative duties, such as answering phones, serving customers, workers, or visitors, creating documents and reports, gathering records, setting up meetings, and arranging. Therefore, teacher is not considered to be a part of it.
To learn more on Administrative Support Pathway
https://brainly.com/question/28444207
#SPJ1
Mikan Company’s standard predetermined overhead rate is $9 per direct labor hour. For the month of June, 26,000 actual hours were worked, and 27,000 standard hours were allowed. How much overhead was applied? Overhead applied
Answer:
Allocated MOH= $234,000
Explanation:
Giving the following information:
Predetermined overhead rate= $9 per direct labor hour.
Actual direct labor hours= 26,000
To allocate manufacturing overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 9*26,000
Allocated MOH= $234,000
Davis, an operations manager, was expecting an output of 5,000 units in a week. However, only 1,000 units have been manufactured by the end of the third day. Davis will now need to take some corrective action in order to complete the production of all 5,000 units on time. Which management function does Davis need to perform?
A.
planning
B.
budgeting
C.
coordinating
D.
controlling
Answer:
A. planning
Explanation:
Planning is the first step in the process of management. Without planning nothing could be accomplished. It is a thinking process that represents the need to accomplish the desired objective
Since in the given question it is mentioned that Davis required to take corrective action in order to finished the 5,000 units on time
So this represents the planning
hence, the correct option is A.
Answer:
D, controlling
Explanation:
Was right on plato test
Find the monthly payment necessary to amortize the following home mortgages.
$314,900, 6 3/4%, 15 years
Answer: $ 2786.58
Explanation:
P = $314,900
r = 6 3/4% per year = 6.75% / 12 months = 0.0675 / 12 = 0.005625 per period
n = 15 years = 15 × 12 months = 180 total periods
Ammortizaion formula is given as:
A = [P(1 + r)^n / (1 + r)^n - 1
where,
A = amount paid per period
P = Initial Principal
r = Interest rate
n = Number of periods
Slotting in the values, we would have a monthly payment of $ 2786.58
Mike’s Motors Corp. manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. If necessary, the company borrows to meet this requirement, at a cost of 2% interest per month (paid at the end of each month). Any cash balance above $30,000 at month-end is used to repay loans. The cash balance on July 1 is $32,000, and the company has no outstanding loans at that time. Forecasted cash receipts and forecasted cash payments (other than for loan activity) are as follows.
Cash
Receipts Cash
Payments
July $ 83,000 $ 111,000
August 109,000 97,900
September 148,000 125,400
Prepare a cash budget for July, August, and September. (Negative balances and Loan repayment amounts (if any) should be indicated with minus sign. Round your final answers to the nearest whole dollar.)
Answer:
Mike's Motors Corp.
Cash Budget for July, August, and September:
July August September Total
Beginning balance $32,000 $30,000 $30,000 $32,000
Cash receipts 83,000 109,000 148,000 340,000
Bank borrowings 26,000 0 0 26,000
Total receipts 141,000 139,000 178,000 $398,000
Cash Payments 111,000 97,900 125,400 334,300.00
Interest 520 308.40 828.40
Loan repayment 10,580 15,420 26,000.00
Total payments 111,000 109,000 141,128.40 361,128.40
Minimum cash balance 30,000 30,000 36,871.60 36,871.60
Explanation:
a) Data and Calculations:
Cash Receipts Cash Payments
July $ 83,000 $ 111,000
August 109,000 97,900
September 148,000 125,400
Minimum cash balance = $30,000
Interest on borrowings = 2% per month
July ending:
Borrowing to maintain minimum cash balance = $26,000
Interest for August = $520 ($26,000 * 2%)
August ending:
Loan balance = $15,420 ($26,000 - $10,580)
Interest for September = $308.40 ($15,420 * 2%)
What is the preferred distance when speaking in a professional group setting?
three to four feet
five to six feet
four to five feet
two to three feet
The preferred distance when speaking in a professional group setting is four to five feet.
Communication which occurs in the social zone, which is considered to be four to five feet away from our body, is typically in the context of a professional or casual interaction, but not intimate or public. So, this distance is preferred in many professional settings as it tends to reduces the suspicion of any impropriety.
The distance which tends to surround a person forms a space. So the space within social distance and out of personal distance is called social space, and the space within public distance is thus reffered to as a public space.
Hence, option C is correct.
To learn more about distance here:
https://brainly.com/question/28342342
#SPJ1
How much was the gross profit margin percentage for Coca-Cola Company for the quarter ending Sep, 2020?
Less than 20%
Between 20% and 30%
Between 30% and 40%
More than 40%
Answer: More than 40%
Explanation:
Coca-cola Gross profit for the quarter ending Sep, 2020 is $5,181 million. Coca-cola's revenues for the same period are $8,652 million.
The Gross profit margin is therefore;
= Gross Profit / Revenue
= 5,181/8,652
= 59.9%