What is the purpose of accounting in society? Identify four kinds of external users and describe how they use accounting information. Identify three actual businesses that offer services and three actual businesses that offer products. What information is reported in an income statement? What does the concept of objectivity imply for information reported in financial statements? Why? Why is the revenue recognition principle needed? What does it demand? Describe the three basic forms of business organization and their key attributes. Define (a) assets, (b) liabilities, (c) equity, and (d) net assets. Identify the following users of accounting information as either an internal (I) or an exter- nal (E) user. _______ A. Shareholders _______ E. Purchasing manager _______ B. Creditors _______ F. Human resources director _______ C. Nonexecutive employee _______ G. Production supervisors _______ D. Research and development director _______ H. Distribution managers Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), statement of owner’s equity (OE), or statement of cash flows (CF). a. Assets d. Equipment g. Total liabilities and equity b. Revenues e. Withdrawals h. Cash from operating activities c. Liabilities f. Expenses i. Net decrease (or increase) in cash Provide an example of a transaction that creates the described effects for the separate cases a through g. a. Increases an asset and decreases an asset. e. Decreases an asset and decreases equity. b. Decreases an asset and decreases a liability. f. Increases a liability and decreases equity. c. Decreases a liability and increases a liability. g. Increases an asset and increases equity. d. Increases an asset and increases a liability Lena Gold began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Gold (the owner) completed these transactions: A. Owner invested $50,000 cash in the company along with equipment that had a $10,000 market value. B. The company paid $1,600 cash for rent of office space for the month. C. The company purchased $12,000 of additional equipment on credit (payment due within 30 days). D. The company completed work for a client and immediately collected the $2,000 cash earned. E. The company completed work for a client and sent a bill for $7,000 to be received within 30 days. F. The company purchased additional equipment for $8,000 cash. G. The company paid an assistant $2,400 cash as wages for the month. H. The company collected $5,000 cash as a partial payment for the amount owed by the client in trans- action e. I. The company paid $12,000 cash to settle the liability created in transaction c. J. Owner withdrew $500 cash from the company for personal use. Required Create a table using the following headings for columns: Cash; Accounts Receivable; Equipment; Accounts Payable; L. Gold, Capital; L. Gold, Withdrawals; Revenues; and Expenses. Then use additions and subtractions to show the effects of the transactions on individual items of the accounting equation. Show new balances after each transaction. The following are selected business transactions for business called W/o Mihret Company during its first year of operation. The assets and liabilities of White dry cleaners on December 1, 2016 of the current year are as follows: Cash Br.1,000, Accounts Receivable, Br.2,200, Supplies Br. 850, Equipment Br. 3,500, Land Br. 11,450. Accounts Payable, Br 4,030. A white dry cleaner is a sole proprietor owned and managed by W/o Mihret. Currently the building, and delivery truck, is being rented, pending expansion to new facilities. Another company at wholesale rates of does the company work of dry cleaning. Business transactions during December are summarized as follows. Received cash from customers for dry cleaning service Br. 4,928. Paid creditors on account Br. 1,755. Received cash from W/o Mihret as additional investment Br. 3,700. Paid rent for the month Br. 1,200. Charged customers for dry cleaning service delivered on account Br.1, 025. Purchased supplies on account, Br. 245 Received cash from customers on account Br. 2,000 Received a monthly bill for electricity for the month December(To be paid on January 2, Br. 1,635, Paid the following: Wages expense, Br. 850, Truck Expense, Br. 250, Utilities Expense, Br.325, miscellaneous expense.Br. 75 W/o Mihret the owner withdraws cash Br. 1,800 for her personal use. Determined by taking an inventory count, the cost of supplies used during the month Br. Required: Journalize the above transactions using General Journal. Post from Journa​

Answer:

Explanation:

A bonded warehouse can be very useful for importers for several reasons:

1. Delaying payment of import duties and taxes: When goods arrive in a country, the importer is typically required to pay duties and taxes on them before they can be released. However, by storing the goods in a bonded warehouse, the importer can delay payment of these fees until the goods are actually sold or shipped out of the warehouse. This can help improve cash flow for the importer and give them more flexibility in managing their finances.

2. Deferring customs clearance: If an importer is not yet ready to clear their goods through customs, they can store them in a bonded warehouse until they are ready to do so. This can be useful if the importer is waiting for documentation or approvals, or if they simply do not have the capacity to handle the goods immediately upon arrival.

3. Improving supply chain efficiency: By storing goods in a bonded warehouse, importers can gain greater control over their supply chain. They can coordinate the timing of shipments and deliveries more effectively, which can help reduce transportation costs and improve overall efficiency.

Overall, a bonded warehouse can be a very useful tool for importers. By storing their goods in a bonded warehouse, importers can delay payment of duties and taxes, defer customs clearance, improve supply chain efficiency, and access additional services. This can help importers manage their cash flow, reduce costs, and improve their overall operations.

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Answer:

Negative effects of globalization in an underdeveloped country include increased internal disparities, benefits to the educated, increased control of MNCs, etc.

With the increasing growth of globalization all around the world, globalization has also entered countries that are underdeveloped and poor. But this has various negative effects of globalization on these countries.

The negative effect includes control of MNCs. As MNCs establish their companies in underdeveloped countries, they might create a monopoly over these countries and may harm the natural resources. Countries of the west are a good example of creating a monopoly over underdeveloped African countries.

Disparities between the rich and poor will also increase in these countries due to globalization. As globalization increases, the educated will immediately benefit as they know about the world and may know languages like English which are spoken all over the world, creating an advantage over the poor, thus increasing disparities.

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A business plan template would include things such as :

A business plan would include:

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Discuss your requirements with your human resources department.

Discuss requirements with other members of the organisation. Examine your regulatory requirements (audit, compliance and risk management).

An HRIS (human resource information system) director is a human resource management department employee who serves as the technical point of contact (PoC).

The HRIS Project Manager is in charge of major HR system projects, HR system and process design, HR system configuration, data standards, reporting, and analytics, all while reporting to the HRIS Director.

The strategic process by which employers analyse their long-term talent needs in the context of business goals, identify and develop the best talent sources, and then execute the strategy by recruiting, evaluating, and onboarding candidates is known as talent acquisition.

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The case study questions "Uber can be the Uber of everything" can be answered as follows:

They have opened up new opportunities for companies to connect with customers, increase brand awareness and drive sales.

Therefore, while beneficial, the internet and social technologies for business have also created new challenges such as managing online reputation and dealing with negative feedback on social media.

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As a portfolio manager, the NAVPS for the Ebbs fund is $226.66., Therefore, the client will purchase 41.91 shares within the Ebbs fund.

As a portfolio manager Total Assets - Total Liabilities (Total Asset Value (NAV)) / Number of Outstanding Shares NAV = ($18,000,000 - $1,250,500) / 75,000 NAV = $226.66 As a result, the Ebbs fund's NAVPS is $226.66. We must first take the front-end load out of the client's desired investment in order to determine how many shares they will buy: Investment amount: $10,000 less $500 is $9,500. After that, we can multiply this sum by the NAVPS: Shares Required = Investment Amount / NAVPS Shares are equal to $9,500 divided by $226.66. Total Shares = 41.91 The client will consequently buy 41.91 shares of the Ebbs fund.

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Answer: Macroeconomics is a branch of economics that focuses on the performance, structure, and behavior of the entire economy, rather than individual markets or specific industries.

Explanation:

It deals with issues such as economic growth, inflation, unemployment, and the policies that governments use to manage these aspects of the economy. Macroeconomic analysis considers factors such as gross domestic product (GDP), interest rates, money supply, and international trade, among others, and attempts to understand how these variables interact to impact the overall performance of the economy.

Investors: The incorrect presentation of financial information in the Enron case influenced shareholders' investment decisions. The business

The presentation of financial data in the Enron case was h

What exactly are examples and information?

Information image result

It is a collection of data that has been organised for direct human use, as information aids humans in their decision-making process. receipts, reports, and so on are examples.

What is information and what kinds of information are there?

It is knowledge that has been gained or shared through study, instruction, investigation, or news, and it is shared through the act of communicating, whether verbally, nonverbally, visually, or in writing. Intelligence, message, data, signal, or fact are all names for information.

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In many ways, Namibia's tax administration system is comparable to that of other nations, including the collection of funds to support governmental operations and the provision of services to taxpayers. There are, however, other distinctions that make it unique.

Namibia has a very sophisticated tax administration system with a focus on taxpayer education and compliance when compared to several other African nations. Technology has also been used to simplify tax collection and lower fraud.

Namibia's tax structure is simpler and less complicated than that of wealthy nations. Also, it relies less on direct taxes like income tax and more on indirect taxes like value-added tax (VAT).

Generally, Namibia's tax administration system has some features in common with those of other nations, but it also has some key distinctions that reflect the economy of the nation.

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Answer:

D. corporation

Explanation:

According to the information given, it appears that the business gave Escambia County Schools computer equipment in exchange for $7,500 in cash.

The computer hardware had an initial cost of $8,300, which was noted on October 1. The depreciation expense was to be rounded up to the nearest whole dollar each month because the equipment was thought to have a seven-year life and a $1,000 salvage value. We must figure out the depreciable cost, which is the original cost less the salvage value, in order to calculate the depreciation expense for the equipment. The depreciable cost in this instance is $7,300 ($8,300 - $1,000). We can use the straight-line depreciation method to determine the monthly depreciation expense because the equipment has a seven-year life. The cost of depreciation is $7,300 / 7, or $1,042.86 annually.

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Answer: $254

Explanation:

The NAVPS (Net Asset Value Per Share) for the given fund can be calculated as the difference between the total assets and the total liabilities divided by the total number of shares outstanding:

NAVPS = (Total assets - Total liabilities) / Total shares outstanding

Substituting the given values, we get:

NAVPS = ($14,200,000 - $1,500,000) / 50,000

= $12,700,000 / 50,000

= $254

Therefore, the NAVPS for the given fund is $254 per share. This means that for every share held by the client, they own a portion of the underlying assets of the fund worth $254. It is important to note that the NAVPS may fluctuate over time as the value of the underlying assets and liabilities of the fund changes.

Answer:

Part I:

1.True

2.True

3.False

4.True

5.True

6.True

7.True

8.False

9.False

10.True

Part II:

1.G

2.E

3.I

4.C

5.K

6.B

7.F

8.B

9.A

10.H

Part III:

1.B

2.C

3.A

C. energy

hope this helped!!

The structure of a corporation can be broadly divided into three tiers: the board of directors, the management team, and the employees/workers.

The Board of Directors is the highest tier of a corporation and is responsible for making major decisions related to the direction and strategy of the company.

The Management Team is the second tier of a corporation and is responsible for overseeing the day-to-day operations of the company.

The Employees/Workers make up the third tier of a corporation and are responsible for carrying out the tasks necessary to produce and deliver the company's products or services.

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An individual can contribute up to $5,500 to both Roth IRA and Traditional IRA.

Roth IRA is an individual retirement account offering tax-free growth and tax-free withdrawals in retirement because the contributions are based on after-tax income.

On the other hand, a Traditional IRA means that contributions are based on pre-tax incomes, therefore, the investment grows tax-deferred, and withdrawals are taxed as current income in retirement.

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The external environment refers to all the factors that are outside the control of the organisation.

The elements of the external environment are as follows:

Social environment

Political environment

Economic environment

Technological environment

Legal environment

Environmental factors

Operations in business include all the activities that an organisation performs to produce its goods and services. It includes planning, organising, staffing, directing, and controlling the final outcome.

If there is any change in the external environment, such as in the social environment, it can affect the demand or trend of certain goods or services, which can impact the sales of the product or service in a negative or positive manner.

If there is change in any political environment, for example, if there is a new political party in power that is highly capitalistic, then the country might face privatization, which would affect many businesses.

The economic environment can directly affect the operations of businesses. If the economy is stagnant, the growth of businesses is unlikely, but if there is a boom period in the economy, there are high chances that businesses will grow.

If there is a change in the technological environment, then it would affect those businesses that are heavily technology driven.

The legal environment includes changes to certain laws under which businesses in the country are bound.

Introduction to or improvisation of any new law related to consumer rights, company listing, etc. can impact businesses in positive or negative ways.

Environmental factors are dependent on the geographical location of the business unit. In order to expand its reach, if a business decides to relocate to some different geographical location, then the climate of that particular location would impact the sales of some seasonal goods such as food, clothes, etc.

External environment changes can significantly affect business operations. For example, a natural disaster can disrupt supply chains, production,sales, leading to financial losses and reputational damage.

Natural disasters, such as hurricanes, earthquakes, floods, and wildfires, can have a significant impact on the operation of businesses. These events can disrupt supply chains, damage infrastructure, and cause financial losses, as well as threaten the safety of employees and customers.In the short term, natural disasters can lead to business interruptions, as companies may have to shut down their operations temporarily or indefinitely. This can result in lost revenue, missed deadlines, and disrupted relationships with suppliers and customers.In the long term, natural disasters can also have lasting effects on a company's reputation, as customers may view them as unreliable or unable to handle unforeseen circumstances. Additionally, companies may face legal and regulatory challenges in the aftermath of a natural disaster, such as complying with safety regulations or facing lawsuits related to environmental damage.

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Research shows that physically recording goals makes people more likely to actually achieve them. This statement is true.

The accomplishment of objectives yields precise, measurable outputs that directly advance the project aims. Planning the actions to accomplish the long-term objectives in your grant by setting precise, measurable, attainable, relevant, and time-bound (SMART) objectives is a solid strategy.

If you disclose your progress in public or keep a tangible record of it, your chances of success will increase even further. According to study from the American Psychological Association, the more frequently you check in on your progress toward a goal, the more likely it is that you will succeed.

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Answer:

Explanation: Being a procrastinaor could cost you your job. Procrasinating important projects can results in you turning in medicore deliverables, and trust me your boss will notice. If you aren't sure where to start, ask your advisor or peer, people are always willing to help.

The formula to ensure the value if a one-time deposit is accumulated into the account over a specific interest rate and time period is P = F/(1 + r)^t

To derive the formula to calculate the value of a one-time deposit to ensure a specific final amount of money accumulated in the account, we can start with the simplified compound interest formula:

F = P(1 + r)^t

Where:

F = Final amount of money accumulated in the account

P = Principal or initial amount of money deposited

r = Interest rate per year

t = Number of years

To solve for P, we need to isolate it on one side of the equation. We can do this by dividing both sides of the equation by (1 + r)^t:

F/(1 + r)^t = P

Therefore, the formula to calculate the value of a one-time deposit to ensure a specific final amount of money accumulated in the account is:

P = F/(1 + r)^t

This formula can be used to determine the initial amount of money that needs to be deposited into an account to achieve a desired final amount, given a specific interest rate and time period.

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Answer:

C.building construction

Explanation:

Answer:

A. electrical grid for neighborhood

Basis of barter is not one of of the three functions of money among the other three options.

A nation's central bank issues coins and legal tender to enable the exchange of goods and services between market players. As a result, it functions as a medium of trade.

Money may also be used as a shop of value since the owner can keep it there to cover future consumption needs.

In addition, as money may be used to buy and sell any good or service, it functions as a unit of measurement and account.

Therefore, the correct answer is C. basis of barter

A good known as a means of economic exchange is money. It serves as the channel via which values and prices are communicated. Money is the primary indicator of wealth since it moves from one person to another and from one country to another, promoting commerce.

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If the company uses an interest rate of 12 percent on all of its projects, the MIRR of the project is 8.58%.

The present worth of all negative cash flows at the 12% finance rate is  determined to be as FV of positive cash flows = $[tex]6,800(1.12)^{4}[/tex] + $8,000([tex]1.12)^{3}[/tex] + $7,600(1.12)² + $6,400(1.12) = $29,784.08

PV of capital flow negatives = $15,700

MIRR is calculated as [(FV of positive cash flows / PV of (-cash flows)) n times (1/n)]. - 1,

MIRR = [($29,784.08 /( [tex]$15,700)^{\frac{1}{5} }[/tex]] - 1

MIRR = 8.58%

We can compute MIRR directly in Excel using the MIRR function.

=MIRR(range of cash flows, finance rate, reinvestment rate)

=MIRR(-15700, 6800, 8000, 7600, 6400, -3800, 0.12, 0.12) = 8.58%

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1- Journal entry to record the amount of cash proceeds from the issuance of the bonds on July 1, 20Y1:

Cash $28,083,449

Bonds Payable $26,500,000

Premium on Bonds Payable $1,583,449

2a. Journal entries to record the first semiannual interest payment on December 31, 20Y1, and the amortization of the bond premium using the straight-line method:

Interest Expense $1,583,450

Premium on Bonds Payable $79,173

Cash $1,504,277

2b. Journal entries to record the interest payment on June 30, 20Y2, and the amortization of the bond premium using the straight-line method:

Interest Expense $1,583,450

Premium on Bonds Payable $79,173

Cash $1,504,277

3- Total interest expense for 20Y1 can be calculated as follows:

Interest Expense = Face amount of bonds x Annual interest rate

Interest Expense = $26,500,000 x 12%

Interest Expense = $3,180,000

Therefore, the total interest expense for 20Y1 is $3,180,000.

4- Compute the price of $28,083,449 received for the bonds by using the present value tables in Appendix A:

Face amount of bonds = $26,500,000

Annual interest rate = 12%

Effective interest rate = 11%

Number of periods = 20 (10 years x 2 semiannual periods)

Using the present value of $1 table in Appendix A, the present value factor for 20 periods at 5.5% (11%/2) is 0.37689.

Present value of the face amount = Face amount x Present value factor

Present value of the face amount = $26,500,000 x 0.37689

Present value of the face amount = $9,984,785

Using the present value of an annuity of $1 table in Appendix A, the present value factor for 20 periods at 5.5% (11%/2) is 8.13954.

Semi-annual interest payment = $26,500,000 x 12% / 2

Semi-annual interest payment = $1,590,000

Present value of the semi-annual interest payments = $1,590,000 x 8.13954

Present value of the semi-annual interest payments = $12,936,057

Price received for the bonds = Present value of the face amount + Present value of the semi-annual interest payments

Price received for the bonds = $9,984,785 + $12,936,057

Price received for the bonds = $22,920,842

Therefore, the price received for the bonds is $22,920,842.

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The correct answer is A. Assistant in the registrar's office is the BEST choice for Ignacio if he wants to get a sense of what it's like to work as a university administrator and help students without being a teacher.

The registrar's office is responsible for managing student records, maintaining academic policies, and facilitating course registration, among other duties. As an assistant in the registrar's office, Ignacio would have the opportunity to work closely with students, faculty, and staff and gain a broad understanding of how the university operates.This role would also provide him with exposure to various aspects of higher education administration, such as student services, academic policy, and data management. Additionally, it would allow him to build transferable skills, such as communication, organization, and problem-solving, which are valued in many fields.

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From the given statements, state no,1,2,4, 5, 6, 10-16, 19-20, and 22 are true. Whereas the remaining statements are false.

The term "ethical behavior" alludes to deeds and choices that are in line with moral standards and ideals. These ideals and principles may be derived from philosophical theories, cultural norms, religious beliefs, or other forms of moral instruction.

Technical skills are the specific abilities and knowledge required to perform tasks related to a particular field, industry, or profession. Examples include programming languages, data analysis, design software, project management, network administration, and networking hardware, protocols, and software.

Soft skills are non-technical, interpersonal, and personal attributes that enable individuals to work effectively with others, communicate effectively, and demonstrate emotional intelligence in their work and personal lives. Examples include communication, teamwork, leadership, problem-solving, adaptability, time management, and emotional intelligence.

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At the give up of the year, the products that had been now not sold are subtracted from the sum of starting stock and extra purchases. The remaining range derived from the calculation is the value of goods offered for the year.

At a fundamental level, the fee of items bought method is: Starting inventory + purchases − ending inventory = price of goods sold.

How to Calculate Cost of Goods Sold. If you're calculating the price of items sold in a year, add your stock cost at the establishing of the yr and any purchases — which include materials, labor and indirect overhead costs — made at some stage in the year. Then subtract your inventory value at the give up of the year.

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False. The statement is incorrect. Conceptual skills refer to the ability to think abstractly and understand complex ideas and relationships between different parts of an organization.

These skills allow individuals to think strategically and develop creative solutions to problems. Technical skills, on the other hand, refer to the specialized knowledge and abilities required to perform specific tasks related to a particular field. They involve the ability to use tools, techniques, and procedures to complete tasks in a specialized area. Therefore, the correct statement is that conceptual skills consist of the ability to think abstractly and understand complex relationships, while technical skills involve specialized knowledge and abilities needed to perform specific tasks.

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The entry to record the cash proceeds from the issuance of the bonds on July 1, 20Y1 is:

Cash 28,083,449

Bonds Payable 26,500,000

Premium on Bonds Payable 1,583,449

The company received cash of $28,083,449 from the issuance of the bonds, which is the face value of $26,500,000 plus a premium of $1,583,449. The premium is the difference between the face value and the cash received, and represents the additional amount that investors are willing to pay for the bonds due to their higher interest rate compared to the market rate. The Premium on Bonds Payable account is a contra account to the Bonds Payable account, and reduces the carrying value of the bonds on the balance sheet.

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