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Related Questions
Your Company reported net sales in June of $500,000. At the beginning of June, the company reported beginning inventory of $375,000. Cost of goods purchased during June amounted to $164,500. The company reported ending inventory at the end of June of $210,500. What was the company's gross profit margin for June
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If your Company reported net sales in June of $500,000. Cost of goods purchased during June amounted to $164,500. The company's gross profit margin for June is : $355,500.
Using this formula
Gross profit margin =Net sales- Cost of goods purchased
Where:
Net sales=$500,000
Cost of goods purchased=$164,500
Let plug in the formula
Gross profit margin=$500,000-$164,500
Gross profit margin=$355,500
Inconclusion if your Company reported net sales in June of $500,000. Cost of goods purchased during June amounted to $164,500. The company's gross profit margin for June is : $355,500.
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5. MBO was first described by a. Henry Minzberg b. Henri Fayol. c. Fredrick W. Taylor. d. Peter Drucker.
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Answer:
MBO was first described by Peter Drucker.
What is the origin, development, and importance of ethics in business?
Answers
Answer:
The notion of ethics in business can be traced back to the earliest forms of bartering, based on the principle of equal exchange. Countless philosophers and economists have examined the topic, from Aristotle and his concept of justice to Karl Marx's attack on capitalism.
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Suppose you know that a company’s stock currently sells for $67 per share and the required return on the stock is 12 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. If it’s the company’s policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?
Answers
Answer:
the dividend per share is $3.79
Explanation:
Expected return = Dividend yield + Capital gain yield
The total return is evenly divided into the capital gain yield and dividend yield. Hence, the capital gain yield is 6% and dividend yield is 6%.
The following transactions took place for Smart Solutions Incorporated. 2020
a. July 1 Loaned $63,000 to employees of the company and received back one-year, 10 percent notes.
b. December 31 Accrued interest on the notes. 2021
c. July 1 Received interest on the notes. (No interest has been recorded since December 31.)
d. July 1 Received principal on the notes.
Required:
Prepare the journal entries that Smart Solutions Inc. would record for the above transactions.
Answers
Here, we going to prepare the journal entries for the various transactions of Smart Solutions Inc.
Date Account titles and Explanation Debit Credit
Jul-01 2020 Notes receivable $63000
Cash $63000
Dec-31 2020 Interest Receivable $3,150
Interest Revenue $3,150
Jul-01 2021 Cash $6,300
Interest Revenue $3,150
Interest receivable $3,150
Jul-01 2021 Cash $63000
Notes receivable $63000
Notes:
Interest for 6 months on July 1 = $63000 * 10% * (6/12)
Interest for 6 months on July 1 = $3,150
Interest for 1 year = $63000 x 10%
Interest for 1 year = $6,300
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Tony and Suzie are ready to expand Great Adventures even further in 2022. Tony believes that many groups in the community (for example, Boy Scouts, church groups, civic groups, and local businesses) would like to hold one-day outings for their members. Groups would engage in outdoor activities such as rock climbing, fishing, capture the flag, paintball, treasure hunts, scavenger hunts, nature hikes, and so on. The purpose of these one-day events would be for each member of the group to learn the importance of TEAM (Together Everyone Achieves More).
Tony knows that most people are not familiar with these types of activities, so to encourage business he allows groups to participate in the event before paying. He offers a 4% quick-payment discount to those that pay within 10 days after the event. He also guarantees that at least eight hours of outdoor activities will be provided or the customer will receive a 20% discount. For the first six months of the year, the following activities occur for TEAM operations.
Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $6,000 cash.
Feb. 25 Mr. Kendall’s Boy Scout troop participates in a one-day TEAM adventure. Normally, Tony would charge a group of this size $4,500, but he wants to encourage kids to exercise more and enjoy the outdoors so he charges the group only $4,000. Great Adventures provides these services on account.
Feb. 28 The Boy Scout troop pays the full amount owed, less the 4% quick-payment discount.
Mar. 19 Reynold’s Management has its employees participate in a one-day TEAM adventure. Great Adventures provides services on account for $5,000, and Reynold’s agrees to pay within 30 days.
Mar. 27 Reynold’s pays the full amount owed, less the 4% quick-payment discount.
Apr. 7 Several men from the Elks Lodge decide to participate in a TEAM adventure. They pay $8,500, and the event is scheduled for the following week.
Apr. 14 The TEAM adventure is held for members of the Elks Lodge.
Apr. 30 Myers Manufacturing participates in a TEAM adventure. Great Adventures provides services on account for $7,000, and Myers agrees to pay within 30 days.
May 31 Myers Manufacturing fails to pay the amount owed within the specified period and agrees to sign a three-month, 7% note receivable to replace the existing account receivable.
Jun. 15 Several MBA groups participate in TEAM adventures. Great Adventures provides services on account for $29,000 to these groups, with payment due in July.
Required:
a. Record adjusting entry for uncollectible accounts.
b. Record the accrued interest revenue.
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If on Jan. 24 Great Adventures purchases outdoor gear such as ropes, helmets, harnesses, compasses, and other miscellaneous equipment for $6,000 cash. The adjusting entry for uncollectible accounts and the accrued interest revenue are:
a. The adjusting entry for uncollectible accounts are:
Jan. 24, 2022
Debit Equipment $6,000
Credit Cash $ 6,000
(To record purchase of equipment and other materials)
Feb. 25
Debit Account Receivable $4,000
Credit Service Revenue $4,000
(To record service revenue on account)
Feb. 28
Debit Cash $3,840
($4,000-$160)
Debit Cash Discount $160
(4%×$4,000)
Credit Account Receivable $4,000
(To record cash receipt and discount)
Mar. 19
Debit Account Receivable $5,000
Credit Service Revenue $5,000
(To record service provided on account)
Mar. 27
Debit Cash $4,800
($5,000-$200)
Debit Cash Discount $200
(4%×$5,000)
Credit Account Receivable $5,000
(To record cash receipt and discount allowed)
April 7
Debit Cash $8,500
Credit Unearned Service Revenue $8,500
(To record cash receipt for providing service in future)
April 14
Debit Unearned Service Revenue $8,500
Credit Service Revenue $8,500
(To record unearned revenue being earned)
April 30
Debit Account Receivable $7,000
Credit Service Revenue $7,000
(To record service provided on account)
May 31
Debit Note Receivable $7,000
Credit Account Receivable $7,000
(To record a 3 months, 7% Note Receivable)
Jun. 15
Debit Account Receivable $29,000
Credit Service Revenue $29,000
(To record service provided on account)
b. The journal entries to record the accrued interest revenue are:
Jun. 30
Debit Interest Receivable $40.83
Interest Revenue $40.83
($7,000×7%× 1/12)
(To record accrued interest for 1 month)
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Marketing programs that track purchases history, personal information and preferences and provide incentives to loyal, repeat customers are called?
A. loyalty program
B. tracking systems
C. customer app
D. marketing tricks
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Marketing programs that track purchase history and provides incentive to their loyal customers are known as loyalty programs.
The correct answer to this question is option A. Loyalty programs as the name implies are offered to those customers that are found to be loyal to a business.
These types of programs offer special discounts, rewards, as a way to retain these customers and also attract new ones.
Such programs are established to encourage repeat business.
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Miller Company reported the following information in its 2017 financial statements ($ in millions):
2017 2016
Balance Sheet:
Accounts receivable, net $1,947.4 $1,574.6
Income statement:
Sales revenue $18,276.6
A note disclosed that the allowance for uncollectible accounts had a balance of $27.4 million and $27.7 million at the end of 2017 and 2016, respectively. Bad debt expense for 2017 was $18.0 million.
Required:
Determine the amount of cash collected from customers during 2017.
Answers
The cash the Miller Company collected from customers in 2017 is determined to be $17,885.8 million.
Data and Calculations:
Balance Sheet: 2017 2016
million million
Accounts receivable, net $ 1,947.4 $ 1,574.6
Allowance for Uncollectible Accounts $27.4 $27.7
Accounts receivable, gross $1,974.8 $1,602.3
Bad Debts Expense for 2017 = $18.0 million
Income statement:
Sales revenue $ 18,276.6
T-Accounts:
Accounts Receivable
Account Title Debit Credit
Beginning balance $1,602.3
Sales revenue 18,276.6
Allowance for Uncollectible $18.3
Cash 17,885.8
Ending balance $1,974.8
Totals $19,878.9 $19,878.9
Allowance for Uncollectible Accounts
Account Title Debit Credit
Beginning balance $27.7
Accounts receivable $18.3
Bad debts expense $18.0
Ending balance $27.4
Totals $45.7 $45.7
Thus, the Miller Company collected cash worth $17,885.8 million from its customers in 2017.
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What's the purpose of the three questions you should ask before using your emergency fund?
The three-question:
Is it unexpected?
Is it necessary?
Is it urgent?
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Answer:
to reconsider yourself before spending your emergency funds.
Explanation:
if it's not important then don't use it.
is it unexpected?.. well do you expect to use this fund.
is it necessary?... do you really need this stuff
is it urgent?.... do you need these things right now?
Education Planning: Suppose you have just had your first child and you want to begin saving for their college education. You estimate that with inflation, the cost of four years of college at a top university will cost a total of $225,000 in 18 years when your child graduates from high school. How much do you need to invest at the end of each month (part a) or year (part b) for the next 18 years to accumulate the $225,000 assuming:
Answers
To obtain $225,000 in 18 years it is necessary to save or invest at least 1,041.66 every month and 12,500 every year.
We know the total money that needs to be saved to cover college education is $225,000 and the time to save up this money is 18 years. Based on these two details, let's find out how much you need to save every month and every year.
Total of months:
12 months x 18 years = 216 months.The total you need to save per month:
$225,000 / 216 = 1,041.66.The total you need to save per year:
1,041.66 x 12 = 12,499.99 that can be rounded as 12,500.Note: This question seems to be incomplete; however, I answered it based on the information provided.
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The swim lane approach to estimating the revenue generated by advertising in different media.. Group of answer choices ..is very effective for determining advertising ROI is very effictive when combined with the walk lane method. ..is prone to overestimating the contribution of specific media advertsing channels. ...is the future of the advertsing industry
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Answer:
Explanation:is prone to overestimating the contribution of specific media advertsing channels. is very effictive when combined with the walk lane method.
WellWheats, Inc. produces breakfast cereal and sells each box, or unit, for $7. The company has forecast production for the next three months as follows: July 5,000 units, August 6,000 units, September 3,500 units. Monthly manufacturing overhead is budgeted to be $20,000 plus $5 per unit produced. What is budgeted manufacturing overhead for July
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Based on the information the budgeted manufacturing overhead for July is $45,000.
WellWheats, Inc. Budgeted Manufacturing Overhead for the month of July
Monthly Manufacturing Overhead $20,000
Additional manufacturing costs $25,000
(5,000 units x $5 per unit produced)
Total Budgeted Manufacturing Overhead for July $45,000
($20,000+$45,000)
Inconclusion the budgeted manufacturing overhead for July is $45,000.
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i need answers right no
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Answer:
what's the whole question
I can't understand
The hazard management process consists of a number of activities designed to reduce loss of life and destruction of property. Natural hazard management has often been conducted independently of development planning. A distinctive feature of OAS technical assistance is the integration of the two processes.
Randall Go-Karts sells motorized go-karts. Randall Go-Karts are motorized and are typically purchased by amusement parks and other recreation facilities, but are also occasionally purchased by individuals for their own personal use. The company uses a perpetual inventory system. Selected transactions in the month of December follow:
Requirement: Describe how each of the contingent liabilities in the selected December transactions would be treated in Tripp's financial statements for 2022.
a. Dec 22 transaction will be footnoted as a contingent liability.
b. Dec 22 transaction will not be footnoted because it is unlikely to be a loss.
c. Dec 31 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will also be footnoted.
d. Dec 5 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will also be footnoted.
e. Dec 27 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will not be footnoted since it is recorded on the financial statements.
f. Dec 27 transaction will be reported as a liability on the balance sheet and a loss on the income statement. Transaction will also be footnoted.
g. Dec 31 transaction will be reported as a liability on the balance sheet and an expense on the income statement. Transaction will not be footnoted since it is recorded on the financial statements.
h. Dec 5 transaction will be footnoted as a contingent liability.
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The description of the treatment of each contingent liability, arising from the affected December transactions in the financial statements of Tripp are as follows:
1. Dec 5 transaction will be treated as h. footnoted
2. Dec 22 transaction will not be treated as b. not footnoted
3. Dec 27 transaction will be reported as e. liability and expense
4. Dec 31 transaction will be reported as g. liability and expense
Thus, contingent liabilities are disclosed if their amounts can be reasonably estimated and they are likely to occur. They are footnoted if the amounts cannot be reasonably estimated, though they are likely to occur.
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The transactions are in the attachment.
There are selected transactions of Martin Consulting Service. Post the transactions into the appropriate Ledger accounts.
DATE TRANSACTIONS
20x1
Sept. 1 Marcus Martin invested $40,000 in cash to start the firm.
4 Purchased office equipment for $4,350 on credit from Zappo, Inc.; received Invoice 8925, payable in 30 days.
16 Purchased an automobile that will be used to visit clients; issued Check 1001 for $28,000 in full payment.
20 Purchased supplies for $550; paid immediately with Check 1002. 23 Returned damaged supplies for a cash refund of $105.
30 Issued Check 1003 for $2,100 to Zappo, Inc., as payment on account for Invoice 8925.
30 Withdrew $3,000 in cash for personal expenses.
30 Issued Check 1004 for $4,500 to pay the rent for October.
30 Performed services for $11,325 in cash. 30 Paid $480 for monthly telephone bill, Check 1005.
Post the above transactions into the appropriate Ledger accounts.
Answers
Martin Consulting Service, posting transactions to the appropriate Ledger accounts are as follows:
Cash
Date Account Titles Debit Credit
Sept. 1 Capital, Martin $40,000
Sept. 16 Automobile $28,000
Sept. 20 Supplies 550
Sept. 23 Supplies 105
Sept. 30 Accounts Payable (Zappo, Inc.) 2,100
Sept. 30 Drawings, Martin 3,000
Sept. 30 Prepaid Rent 4,500
Sept. 30 Service Revenue 11,325
Sept. 30 Utilities Expense 480
Capital, Martin
Date Account Titles Debit Credit
Sept. 1 Cash $40,000
Office equipment
Date Account Titles Debit Credit
Sept. 4 Accounts Payable
(Zappo, Inc.) $4,350
Accounts Payable
Date Account Titles Debit Credit
Sept. 4 Office equipment $4,350
Sept. 30 Cash $2,100
Automobile
Date Account Titles Debit Credit
Sept. 16 Cash $28,000
Supplies
Date Account Titles Debit Credit
Sept. 20 Cash $550
Sept. 23 Cash $105
Drawings
Date Account Titles Debit Credit
Sept. 30 Cash $3,000
Prepaid Rent
Date Account Titles Debit Credit
Sept. 30 Cash $4,500
Service Revenue
Date Account Titles Debit Credit
Sept. 30 Cash $11,325
Utilities Expense
Date Account Titles Debit Credit
Sept. 30 Cash $480
Data Analysis:
Sept. 1 Cash $40,000 Capital, Martin $40,000
Sept. 4 Office equipment $4,350 Accounts Payable (Zappo, Inc.) $4,350
Sept. 16 Automobile $28,000 Cash $28,000
Sept. 20 Supplies $550 Cash $550
Sept. 23 Cash $105 Supplies $105
Sept. 30 Accounts Payable (Zappo, Inc.) $2,100 Cash $2,100
Sept. 30 Drawings, Martin $3,000 Cash $3,000
Sept. 30 Prepaid Rent $4,500 Cash $4,500
Sept. 30 Cash $11,325 Service Revenue $11,325
Sept. 30 Utilities Expense $480 Cash $480
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Small business commonly employ what type departmentalization
Answers
Answer:
line departmentalization
Explanation:
Hope this helps:)
~Kisame'sAbs
identify two ways lean production might be achieved
Answers
Answer:
VJNJMJNBGNFVF VGJFKVKFKRKELÑKTKFKLRGRLBG
Explanation:NBGNNUKIKUUHKNU6GGGTGJ
Nick and Matt are the partners in a local health food store. They
needed $73,000 to start the business. They invested in the ratio 3:7
a. How much money did each invest?
b. What percent of the business was owned by Matt? Round to the
nearest tenth of a percent
Answers
a. The amount that each invested is: Nick $21,900; Matt $51,100.
b. Percent of the business owned by Matt is 70%.
a. Amount invested by each
First step is to calculate the total parts
Total parts=3x + 7x
Total parts=10x
Second step is to calculate the cost per part(x)
Cost per part(x)=73,000/10
Cost per part(x)=7,300
Third step is to calculate the money invested by Nick and Matt
Money invested by Nick=3x
Money invested by Nick=3×7,300
Money invested by Nick=$21,900
Money invested by Matt=7x
Money invested by Matt=7×7,300
Money invested by Matt=$51,100
b. Percent owned by Matt
Using this formula
Percent owned by Matt =Part owned by matt/Total part
Let plug in the formula
Percent owned by Matt =7x/(3x+7x)
Percent owned by Matt=7x/10x
Percent owned by Matt=0.7×100
Percent owned by Matt =70%
Inconclusion the amount that each invested is Nick $21,900; Matt $51,100 and the percent of the business owned by Matt is 70%.
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A group of investors was polled each week for the last five weeks about whether they were bullish or bearish concerning the market. Construct the market sentiment index for each week based on these polls. (Do not round intermediate calculations. Round your answers to 4 decimal places.) Week Bulls Bears 1 58 63 2 53 68 3 47 74 4 50 71 5 43 78
Answers
The market sentiment index [MSI] for each week will be 0.5207, 0.5620, 0.6116, 0.5868, and 0.6446
Week 1
Bulls (a) = 58
Bears (b) = 63
c = a + b = 121
MSI = b/c = 0.5207
Week 2
Bulls (a) = 53
Bears (b) = 68
c = a + b = 121
MSI = b/c = 0.5620
Week 3
Bulls (a) = 47
Bears (b) = 74
c = a + b = 121
MSI = b/c = 74/121 = 0.6116
Week 4
Bulls (a) = 50
Bulls (b) = 71
c = a + b = 121
MSI = b/c = 71/121 = 0.5868
Week 5
Bulls (a) = 43
Bears (b) = 78
c = a + b = 121
MSI = b/c = 78/121 = 0.6446
The market segment index measures the ratio that is between the average volume of the declining stocks and that of the advancing stocks.
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Question 3 of 10
form from their clients that
Independent contractors receive a
verifies their earnings for the year.
O A. W-2
B. 1099
O C. 1040
D. W-4
Answers
Answer:
B. 1099
Explanation:
Answer:B
Explanation: I just got it right
The firm of Mitchell and Mitchell owns a small truck. The truck has a market value of $9,500 today. New, it cost $24,900. Last week, the company spent $3,500 repairing the engine and replacing the brake pads. The company still owes $1,200 in truck payments. If the company decides to use this vehicle for a new project, the cost assigned to that project for this truck should be:
Answers
Answer:
Explanation:
24900 x 1.05^6 = 33368.3815
33368.3815 - 24900 = 8468.3815
9500 - 8468.3815 = 1031.6185 cost assigned before payments
3500-1200 = 2300
therefore cost assigned = 2300 +1031.6185 = 3331.6185
Truck cost = 3331.62
What happened to the U.S. dollar when President Nixon closed the gold
window?
A. It became part of a total commodity system
B. It came part of a partial fiat system
C. It became part of a total fiat system
D. It became part of a partial commodity system
Answers
Answer:
I think it's c but I'm not 100 percent
The Nixon Shock actually directed the future of the Bretton Woods Agreement and the convertibility of U.S. dollars into gold. Nixon uncoupled gold from its set $35 price and stopped the convertibility of dollars into gold by alien governments and central banks.
What occurred to the U.S. dollar when Nixon shut the gold window?
The Nixon Shock actually directed the future of the Bretton Woods Agreement and the convertibility of U.S. dollars into gold. The Nixon Shock stood as the catalyst for the stagflation of the 1970s as the U.S. dollar depreciated.
Nixon uncoupled gold from its set $35 price and stopped the convertibility of dollars into gold by alien governments and central banks. At this moment, the dollar evolved virtually free-floating, estimated only by analogizing it to other order currencies.
Therefore, the correct answer is option C. It became part of a total fiat system
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3 reasons for pricing a product
Answers
Answer:
The three reasons for pricing a product are:
Achieving market share.Investments.Supply.Joie de Vivre has been successful at motivating employees, which can be shown using the four indicators of motivation as outlined in the chapter. of these indicators,____ is the one that helps determine the degree to which employees will support the company and its mission.
A. rootedness
B. commitment
C. satisfication
D. comprehension
E. engagement
Answers
If Joie de Vivre has been successful at motivating employees, which can be shown using the four indicators of motivation as outlined in the chapter. of these indicators,____ is the one that helps determine the degree to which employees will support the company and its mission: B. commitment
Commitment has do with showing support or been committed by showing supports towards the success of the company or organization.
To be committed at a work place shows that you are devoted to the company and you want the aims and objective of the company to be realistic.
When an employee is committed to their job it means employee is passionate about their job as well as the mission of the company because a committed employee will always support the company.
Such an employee are often exceptionally good when carrying out the tasks or assignments assign to them because they have company best interest in mind.
Inconclusion commitment is the one that helps determine the degree to which employees will support the company and its mission.
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_________ Refers procedures that connect to the work activities of the different work divisions or units of the firm in order to achieve its overall goal
Answers
Answer:
Organizing
Explanation:
Organizing involves coordinating and allocating a firm's resources so that the firm can carry out its plans and achieve its goals. This organizing, or structuring, process is accomplished by: Determining work activities and dividing up tasks (division of labor) Grouping jobs and employees (departmentalization
case study on sustaining customers
Answers
Answer:
http://fernfortuniversity.com/hbr/case-solutions/14933-sustaining-customer-centricity-at-.php
Explanation:
theres one there :/
Check out this app! It’s millions of students helping each other get through their schoolwork. https://brainly.app.link/qpzV02MawO
Answers
Answer:
yeah there are more of us
3. Which of the following statements is true with regards to an investment property? (A) An investment property generates cash flows largely independently of the other assets held by an entity (B) The value in use of investment property is significantly higher than of owner-occupied property (C) An investment property unlike owner-occupied property shall not be depreciated over its useful life (D) An investment property unlike owner-occupied property shall always be measured at its historical cost
Answers
Answer: An investment property generates cash flows largely independently of the other assets held by an entity
Explanation:
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2. There is no way to resolve the conflict between commercial business goals and those of social innovation. True or False?
a. True
b. False
Answers
There is no way to resolve the conflict between commercial business goals and those of social innovation. Social innovation follows a different process to more commercial forms of innovation. Whilst empathy and a need for social justice may be necessary attributes of a social entrepreneur, they are not sufficient. so true.
What is millennial behaviour regarding cooking and food trends?
Answers
In considering healthy eating, their report also indicates that millennials have primary importance in transparency around ingredients with 36% wanting to know if products are Australian-owned and grown, followed by whether they are locally grown (31%) and whether products have no additives or preservatives (24%).