The given accounting transactions are related to the purchase, sale, and dividend receipt of Dexter Co. stock by a particular entity. On February 2, the entity purchased 900 shares of Dexter Co.
stock for $54 per share, which amounted to $48,600. Additionally, they paid a $450 brokerage commission. On April 16, they received dividends of $0.25 per share, which amounted to $225 ($0.25 x 900 shares).On June 17, they sold 200 shares of Dexter Co. stock for $70 per share, which amounted to $14,000. Additionally, they paid a $500 brokerage commission. On August 19, the entity purchased 600 shares of Dexter Co. stock for $65 per share, which amounted to $39,000. Additionally, they paid a $300 brokerage commission.The accounting transactions above can be used to calculate the gain or loss from the sale of the 200 shares of Dexter Co. stock on June 17. The cost of these shares was $10,800 ($54 x 200), and the brokerage commission paid was $500. The total cost was $11,300.
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How would you calculate a price for your labor?
labour hour rate × time required for one product.
Explanation:
multiply the labor hourly rate by the time required to complete one unit of a product
eg: hr rate = $15.50 and it takes 0.1hr to manufacture the product. (15.50×0.1) = $1.55 which is the direct labor cost .
At the close of the meeting, the secretary of the council asked for agenda items for next month, and said, “We currently have the following items on the agenda: the greenbelt, town history, and tax revenue.”
She looked at Tony and quipped, “Should I put you down for next month, Tony? We figured you might have a new career in public speaking.” The audience laughed as Tony shook his head and said, “I think I’ll stick to dentistry for now.”
The type of speech a speaker prepares is determined by the purpose, audience, context, and topic of the speech.
Which of the following is an informative speech topic?
An argument for protecting the town greenbelt for future generations
An explanation of how the town's founding fathers' policies shaped the characteristics of the town
A debate about how to use the town's yearly tax revenue
A humorous "roast" of the town manager who is approaching retirement
An example of an informative speech topic is an explanation of how the town's founding fathers' policies influenced the characteristics of the town.
A description of how the town's founders' policies shaped the characteristics of the town is an illustration of an instructive speech topic. The purpose of an informative speech is to inform or teach the audience about a certain issue. This topic contains information on the history of the town and how it has been shaped by prior policies. The other options, a defense of the town's greenbelt, a discussion of how to spend the town's annual tax revenue, and a lighter "roast" of the departing town manager, are examples of powerful, thoughtful, and humorous speeches, respectively.
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7. What ............. do tonight, eat out or stay in?
a) would you rather
b) had you rather
c) do you rather
d) will you rather
8. This picture, previously entitled ‘Outskirts of a Village’, probably ............. a scene from the artist’s home town in France.
a) paints
b) defines
c) depicts
d) exposes
9. The walk was .............. I need a good rest now.
a) exhausting
b) relentless
c) boring
d) tired
10. When the police got ............. to the bank, the suspect has already left.
a) back
b) in
c) through
d) on
11. Choose the correct sentence.
a) Amish can’t have a long hair
b) I’ve just heard a very interesting news
c) There’s always a terrible traffic in Los Angeles
d) It’s best not to take too much luggage
12. Do not forget to take your umbrella. It ............. by the time you get to work.
a) is going to snow
b) will be snowing
c) will snow
d) will have snowed
13. Reynold usually painted with brushes 18 inches in length; he worked always standing, and he placed his canvas on his ............. close by his sitter, almost side by side.
a) easel
b) palette
c) wood cut
d) frame
14. The silhouetted figure was placed in a narrow vertical ..............
a) line
b) format
c) symmetry
d) arrangement
15. Joseph William Turner was essentially ............., but was also a fervent and lifelong supporter of the royal academy.
a) self-taught
b) mature
c) fashionable
d) talented
Answer:
7. the correct answer is a) would you rather. This phrase is used to ask about preferences or choices between two things. The other phrases are not grammatically correct or idiomatic
8. the correct answer is c) depicts. This word means to represent or show something in a picture or story. The other words have different meanings: paints means to cover a surface with paint or to create a picture with paint; defines means to explain the meaning of a word or concept; exposes means to reveal something hidden or to make something vulnerable
9. correct answer is a) exhausting. This word means to use up all the physical energy of someone or something. The other words have different meanings: relentless means continuing without stopping or weakening; boring means not interesting or exciting; tired means feeling a need to rest or sleep
10. correct answer is b) in. This word means to or toward a previous place or condition. The other words have different meanings: back means in return or further away; through means from one end or side to another; on means touching and being supported by something
11. correct answer is d) It’s best not to take too much luggage. This sentence uses a plural noun (luggage) correctly
12. correct answer is d) will have snowed. This sentence uses the future perfect tense, which is used to describe an action that will have been completed at some point in the future
13. correct answer is a) easel. This word means a frame for supporting something (such as an artist’s canvas)
14. correct answer is b) format. This word means the shape, size, and arrangement of something
15. correct answer is a) self-taught. This word means having learned a skill or subject by oneself, without formal instruction.
the law of contract is not the whole law of agreement nor is it the law of obligation.comment
The answer is, Law of Contract is the law of only those agreements where the parties to the contract have the intention to create obligation to do or not to do something.
This means that, The law of contracts solely governs obligations that result from agreements; it is unconcerned with responsibilities that do not.
For instance, agreements do not create a duty to support a wife and children.
Contract law?Contract law must be followed during the creation, enforcement, and finalization of all legal agreements and contracts. Everyone who does business must at some point or another deal with contract law. Contracts are a frequent instrument that both companies and clients employ.
Contracts, and what kinds are there?Contracts can be unilateral, bilateral, contingent, voidable, explicit, implied, executed, and executory, among many other different types. It may be broadly classified based on the quasi-contract.
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Question 28
Small colleges, like Shorter College and Berry College in Rome, Georgia, typically have a(n).
organization, which is also referred to as a flat organizational structure.
A. staff.
B. matrix.
C. mechanistic
D. organic
Also, a flat organizational structure is another name for organic.
The ideal response is D.
Which company is notable for having a disproportionately high level of job specialisation?The traits of a mechanistic organization include a sizable degree of job specialisation, tight departmentalization, numerous levels of management (especially middle management), small spans of control, centralized decision-making, and a lengthy chain of command.
What's the name of the structure of the workforce within an organization?The concept of "organizational structure" describes how and to whom employees report inside an organisation. By function, for example, is a common method of grouping people. Production, marketing, human resources, and accounting are some typical tasks carried out within a corporation.
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describe the buffalo wild wings market offering based on the concepts of needs, wants, and demands, differentiating the three.
Answer:
Buffalo Wild Wings is a popular sports bar and restaurant chain that offers a variety of food and beverages to its customers. The company's market offering is based on the concepts of needs, wants, and demands.
Needs refer to the basic requirements for survival, such as food, water, and shelter. In the case of Buffalo Wild Wings, the need is for food and drinks, which customers require to satisfy their hunger and thirst.
Wants refer to the desires or preferences of an individual. In the case of Buffalo Wild Wings, customers may want a specific type of food or beverage, such as a certain flavor of chicken wings or a specific brand of beer.
Demands refer to the willingness and ability of an individual to pay for a product or service. In the case of Buffalo Wild Wings, customers who are willing and able to pay for the food and drinks they want and need become the company's demand.
Buffalo Wild Wings' market offering is a combination of its food and beverage menu, the atmosphere of the restaurant, and the entertainment provided by the sports games shown on TV. The company caters to the needs of its customers by providing them with a range of food and drink options to satisfy their hunger and thirst. The company also caters to the wants of its customers by offering a variety of flavors and beverage options to choose from. The demand for Buffalo Wild Wings is created by customers who are willing to pay for the food and drinks they want and need, as well as the experience of dining and watching sports in the restaurant's atmosphere.
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Scientists have determined that people who are lifelong learners and have higher education levels are less at risk for a certain condition as they age. What is that condition?
A.
dementia
B.
arthritis
C.
migraines
D.
hearing loss
The correct option is A. Dementia is the condition that scientists have determined that people who are lifelong learners and have higher education levels are less at risk for as they age.
Studies have found a link between higher levels of education and a reduced risk of developing dementia later in life. Lifelong learning and higher education levels are associated with increased cognitive function and the development of cognitive reserve, which can help to protect against the cognitive decline associated with dementia.Additionally, lifelong learning and higher education levels can help to reduce other risk factors for dementia, such as depression, social isolation, and sedentary lifestyle. These factors can contribute to the development of dementia and other cognitive impairments.
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Most wind turbines are located in rural areas. Why might this matter when choosing a windtech career?
A.
You will have to live away from family.
B.
You’ll have to like your coworkers.
C.
You’ll need to enjoy working at great heights.
D.
You will need to be okay with possible travel.
The correct answer is D. You will need to be okay with possible travel.When considering a career in wind technology, it's important to keep in mind that most wind turbines are located in rural areas.
This means that windtech professionals will likely have to travel to remote locations to work on wind turbines, which may require extended stays away from home.Professionals in this field will need to be comfortable with the possibility of travel and enjoy working in remote locations. They may need to adapt to working in various weather conditions and at great heights, as well as working in teams with diverse backgrounds and skills.It's also important for windtech professionals to have good communication skills, as they will need to work closely with other team members and coordinate with supervisors, clients, and stakeholders.
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Aaliyah developed a way for people with diabetes to measure their medication levels through their phones. What is Aaliyah’s job title MOST likely to be?
A.
Web developer
B.
IT security specialist
C.
Software troubleshooter
D.
Biomedical engineer
The correct answer is D. Biomedical engineer.Based on the information provided, Aaliyah's job title is most likely to be D, Biomedical engineer.
Biomedical engineers apply engineering principles and design concepts to medicine and biology for the purpose of improving healthcare. They are responsible for developing and designing medical devices, equipment, and software that can be used to diagnose, monitor, and treat medical conditions.In this case, Aaliyah has developed a way for people with diabetes to measure their medication levels through their phones, which suggests that she has used her engineering skills to develop a medical software that can be used by people with diabetes. This is a common task for biomedical engineers who work on developing software applications for healthcare.
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During the liquidation process, the partnership will focus on terminal activities
Answer:
such as selling its remaining assets, paying off any outstanding debts or liabilities, and distributing any remaining profits to the partners according to their ownership percentage. The partnership may also need to file final tax returns and notify any creditors or business partners of its dissolution. It is important for partners to carefully follow the legal procedures and requirements for liquidating a partnership to avoid any future legal or financial issues.
Mustafa is interested in a senior-level position but he hasn’t updated his resume since landing his entry-level job. What should he remove from his resume to make it appropriate for a senior-level position?
A.
college academic award
B.
summary statement
C.
relevant volunteer experience
D.
any advanced degrees held
As Mustafa is interested in a senior-level position, his most relevant and recent professional experiences and achievements. Therefore, he should remove the college academic award from his resume as it is likely less relevant to his current career goals.
However, Mustafa should keep any advanced degrees held, as they may be necessary qualifications for senior-level positions in certain fields. It is important to highlight any advanced degrees and certifications that showcase his expertise and knowledge in his field.The summary statement should also be kept in Mustafa's resume, but he should ensure that it emphasizes his senior-level experience and leadership skills, rather than his entry-level experience. Additionally, Mustafa should review his volunteer experience and only keep the relevant ones that showcase his leadership, strategic planning, and project management skills.
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Implied Warranties. Tandy purchased a washing machine from Marshall Appliances. The sales
contract included a provision explicitly disclaiming all express and implied warranties, including
the implied warranty of merchantability. The disclaimer was printed in the same size and color
as the rest of the contract. The machine turned out to be a "lemon" and never functioned
properly. Tandy sought a refund of the purchase price, claiming that Marshall had breached the
implied warranty of merchantability. Can Tandy recover her payment, notwithstanding the
warranty disclaimer in the contract? Explain.
Answer:
It depends on the jurisdiction and the specific facts of the case. In general, disclaimers of implied warranties may not be enforceable if they are found to be unconscionable or if the seller knew or should have known of a defect in the product at the time of sale. Additionally, some jurisdictions recognize an implied warranty of fitness for a particular purpose, which may not be disclaimed. Tandy would need to present evidence showing that the warranty disclaimer was unconscionable or that the seller knew of the defect.
Explanation:
In terms of morality, which do you believe is more important -- the intention of an action or the consequences of an action? Explain, using the ethical reasoning of Kant or utilitarianism to support your view. Share an example that illustrates your point. Make sure you fully demonstrate that you understand the theory you are using.
Whereas utilitarianism places more emphasis on results, Kantism places more emphasis on intention. The decision between these two ethical systems ultimately comes down to personal values and views.
According to Kantianism, an action's morality is determined by its purpose rather than by its outcomes. Kant felt that the categorical imperative, which states that we should only act in ways that we could wish to be universal standards, should serve as a guide for our action. Wgere utilitarianism, a consequentialist ethical philosophy, holds that an action's morality is determined by its effects. According to utilitarianism, a decision is morally right if it leads to the greatest amount of happiness for the largest number of people.
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What should be considered before accepting a job which requires physical labor?
Technological requirements
Loss of work due to weather conditions
pay rate
The physical work environment also comprises climate, lighting, safety, and ergonomics (physical exposure to chemicals and particles, noise, vibration, and vibration exposure).
How can businesses encourage good eating habits and physical activity in the workplace?At events, provide a variety of healthful meals. Construct a dietary challenge. Provide rewards for taking part in diet and weight-management activities. Participate in initiatives to promote healthy eating with the family members of employees.
What is the ideal sequence for formal structure?Formal companies often feature a pyramidal hierarchical structure with the president, CEO, and senior management of the company at the top, intermediate managers in the middle, and low-level managers at the bottom.
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Entries for Stock Investments, Dividends, and Sale of Stock
Seamus Industries Inc. buys and sells investments as part of its ongoing cash management. The following investment transactions were completed during the year:
Feb. 24 Acquired 300 shares of Tett Co.'s stock for $149 per share plus a $96 brokerage commission.
May 16 Acquired 1,200 shares of Issacson Co.'s stock for $50 per share plus a $204 commission.
July 14 Sold 100 shares of Tett Co. stock for $165 per share less a $107 brokerage commission.
Aug. 12 Sold 400 shares of Issacson Co. stock for $40 per share less a $124 brokerage commission.
Oct. 31 Received dividends of $0.3 per share on Tett Co. stock.
Dec. 31 At the end of the accounting period, the fair value of the remaining 200 shares of Tett Co.'s stock was $149.52 per share. The fair value of the remaining 800 shares of Isaacson Co.'s stock was equal to its cost of $50.17 per share.
Seamus Industries purchased shares of Tett Co. and Isaacson Co., reaped Tett Co. dividends, sold some of the shares, resulting in gains on Tett Co. stock and losses on Isaacson Co. stock, and had shares remaining at year's end with fair values.
What distinguishes shares from stocks?Stocks signify a company's partial ownership. A financial instrument called a stock represents a portion of ownership in one or more firms. Each share of equity consists of one unit.
What stocks earn five stars?A five-star rating indicates that the stock is undervalued and selling at a tempting discount to its estimated fair value. Subscribe to Morningstar Investor to have access to pre-built screens selected by our knowledgeable analysts.
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Project: Creating an Investment Portfolio
Do you want to own a home some day? Would you like to enjoy your retirement and go on vacations to some of those beautiful destinations advertised on television? Do you sometimes wonder how you are ever going to accomplish these things on your salary?
The good thing is that it is never too late to start saving, and time is on your side if you start now and follow through. It takes financial planning, execution of the plan, and some discipline. Once you develop your plan and set your goals, you'll need to execute that plan, and stick to it.
An investment portfolio is a collection of assets held for investment purposes by an individual or a company. It includes different asset classes such as stocks, bonds, CDs, and, in some cases, real estate. The amount allocated to each asset class is called asset allocation, which is usually referred to in percentages. The economy and market conditions are always changing, so it is not enough to just build an investment portfolio. You have to monitor the portfolio for its reaction to the economy and social events and periodically make adjustments to assets in your portfolio. Some of the factors that impact an investment portfolio are interest rates, the performance, or lack thereof, of the assets in your portfolio, this list goes on. The key is to keep an eye on it to make sure it is doing what you intended it to do. However, don't try to change your asset portfolio every time the market changes, as that will likely result in losses. The best strategy is to assess your portfolio annually, and only then make any necessary changes.
investment portfolio
OBJECTIVES
Create an investment portfolio to meet short-term and long-term financial objectives.
VOCABULARY
asset allocation the mix or combination of assets such as stocks, bonds, CDs, and money-market accounts
investment portfolio collection of investments owned by an individual or entity
If one of Jane’s goals is to build an emergency fund, how many months’ salary should she reserve for this fund and why? Where should the emergency fund be invested and why? Explain your answers using complete sentences.
To help her with her short-term goals, Jane can consider depositing a portion of her inheritance in a money market fund or a high-yield savings account. To assist Jane reach her long-term goals, the majority of her inheritance may be invested in a well-diversified portfolio of stocks and bonds.
If Jane wants to create an emergency fund, she should try to save enough money to cover her living needs for three to six months. This is a typical amount that is advised for unforeseen circumstances like job loss, medical emergency, or auto repairs. Jane needs to keep a close eye on her long term and short-term investments and rebalance her portfolio as necessary. Also, she should think about how her assets will affect her taxes and make every effort to reduce expenses. A safe, liquid account, such as a money market fund or a high-yield savings account, should be used to hold the emergency fund. These accounts provide faster access to money in an emergency and higher interest rates than typical savings accounts.
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Ivanhoe Corp. incurred the following costs during 2023 in connection with its research and development phase activities:
Cost of equipment acquired for use in research and development projects over the next 5 years (straight-line depreciation used) $277,000
Materials consumed in research projects 61,700
Materials consumed in the development of a product committed for manufacturing in the first quarter of 2024 34,200
Consulting fees paid in the last quarter of 2023 to outsiders for research and development projects, including $4,500 for advice related to the $34,200 of materials used above 87,200
Personnel costs for research and development projects 108,100
Indirect costs reasonably allocated to research and development projects 26,500
General borrowing costs on the company's line of credit 12,900
Training costs for a new customer service software program 18,900
(a) Calculate the amount to be reported as research and development expense by Ivanhoe on its income statement for 2023. Assume the equipment is purchased at the beginning of the year. Assume the company follows IFS for financial reporting purposes.
Amount to be reported as research and development expense:
The amount to be reported as research and development expense on Ivanhoe's income statement for 2023 is $317,700
Materials consumed in research projects 61,700, Materials consumed in the development of a product committed for manufacturing in the first quarter of 2024 34,200,Consulting fees paid in the last quarter of 2023 to outsiders for research and development projects, including $4,500 for advice related to the $34,200 of materials used above 87,200, Personnel costs for research and development projects 108,100, Indirect costs reasonably allocated to research and development projects 26,500, Total research and development expense income statement is $317,700, Note that the cost of equipment acquired for use in research and development projects is not expensed in the current period, but rather depreciated over its useful life.
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using your research skills, provide a summary of how performance management has changed over time. in your response, address how our changing demographics has impacted this process.
In early 20th century, performance management focused on measuring employee output using methods such as time and motion studies.
What is an employee?An employee is an individual who works for an organization or company in exchange for payment. The payment can be in the form of a salary, wages, commissions, or bonuses, and the employee may be hired on a full-time, part-time, or contractual basis. Employees can work in various roles and industries, such as sales, administration, production, customer service, or management, depending on their skills, qualifications, and interests. They are expected to perform their duties and responsibilities to the best of their abilities, comply with the company's policies and procedures, and contribute to its success and growth. In return, employees receive compensation, benefits, training, and career development opportunities, as well as a sense of belonging and purpose within the organization.
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True if the statement is correct and false if the statement in correct
1. Macro marketing takes abroad view of the whole production distribution system
2. Brand label which identifies the product jugged quality with a latter number or world
3. The focal point every research activity is research problem
4. Perception is the energizing force that causes behavior that satisfies a need
5. A belief is a descriptive thought that a person holds about some thing
6. Satisfaction of these needs leads to feelings of self -confidence and prestige is esteem needs
7. Mather is an aggregate of people who as individual or an organization
8. Consumers decision making similar with the type of buying decision
9. Target market is similar group of customers whom a producer wishes to appeal
10. Customers as core center of all the marketing mixes
Real macromarketing views the complete supply and demand chain from a global perspective.
What is macro marketing?Macromarketing examines how the four Ps of marketing—product, pricing, place, and promotion—generate demand for products and services, which in turn influences what kinds of goods and services are produced and sold.
A manager of a small auto repair company may use macro-marketing to reach out to car owners through social media advertising platforms rather of waiting for customers at the store. Targeting a diverse group of clients will promote positive customer behaviour patterns.
You'll have a better understanding of how to grow your business if you understand the connection between marketing and society.
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The Consumer Price Index is used
to calculate what?
A, how wages have
changed over the years
B,how goods have
changed over the years
C,how prices have changed
over the years
D,how taxes have changed
over the years
Select the correct answer from each drop-down menu. Which popular form of advertising is decreasing the demand for an older form of advertising? Because of the increasing popularity of the as a medium of advertising, customers are not inclined to use to search for details of a business these days.
Because of the increasing popularity of the internet as a medium of advertising, customers are not inclined to use newspaper to search for details of a business these days.
Why is internet a popular medium of advertising?The internet has become a popular medium of advertising due to its wide reach, cost-effectiveness, and ability to target specific audiences. With the internet, businesses can reach a vast number of people globally through various channels, such as search engines, social media, email marketing, and display advertising.
Moreover, advertising on the internet is cost-effective as it allows businesses to run campaigns with low budgets and track the performance of their campaigns in real-time. Additionally, the internet enables businesses to target specific audiences based on demographic, geographic, and behavioral factors, which ensures that their advertising messages reach the right people at the right time.
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Which piece of information is LEAST likely to get you an interview if its included on your resume?
A.
work experience
B.
degrees earned
C.
industry certification
D.
hobbies and interests
D
As work Experience, Certification and your degrees are worked very hard for and show your qualifications for a certain area of work, Hobbies do not.
Which investment security is best for the investor who prefers a diversified investment strategy and the ability to mitigate risk by investing in multiple forms of securities within a single portfolio?
stock options
exchange-traded funds
mutual funds
government bonds
The investment security that is best for the investor who prefers a diversified investment strategy and the ability to mitigate risk by investing in multiple forms of securities within a single portfolio is mutual funds.
Mutual funds provide a simple and convenient way to invest in a diversified portfolio of stocks, bonds, and other securities. When an investor buys mutual fund shares, their money is pooled with other investors, and the fund's manager invests the money in a diversified portfolio of securities based on the fund's investment objective. Mutual funds provide access to a broad range of investments, making it easy for investors to create a diversified portfolio without having to research and select individual securities. Additionally, mutual funds are managed by investment professionals, who actively monitor and adjust the portfolio to ensure it aligns with the fund's investment objective.
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If your caught not Making any friends The police are going To cuff you and lock you up in prison for years
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
The purpose of accounting in society is to provide useful financial information about an organization that can be used by various stakeholders, including investors, creditors, management, government, and the public. Few of them are Record-keeping, Financial reporting, Decision-making, Compliance, Performance evaluation.
What is an income statement?Partners share profits and losses and are personally responsible for the debts and liabilities of the business. Partnerships are easy to form and are flexible in terms of management structure.
A single individual owns and runs the company in a sole proprietorship kind of structure. All the company's liabilities and debts are personally owed by the owner. This type of business is simple to establish and has few legal requirements.
Partnership: In a partnership, two or more persons share responsibility for the company's ownership and management.
Shareholders are not personally responsible for the debts and liabilities of the corporation. Corporations have more legal requirements and are more complex to form than sole proprietorships or partnerships.
(a) Assets: Resources owned by a business, such as cash, accounts receivable, inventory, property, and equipment.
(b) Liabilities: Debts owed by a business, such as accounts payable, loans, and taxes owed.
(c) Equity: The residual interest in the assets of a business after deducting liabilities. It represents the ownership interest of the owners or shareholders.
(d) Net assets: The difference between a company's total assets and total liabilities.
Users of accounting information:
A. Shareholders (E)
B. Creditors (E)
C. Nonexecutive employee (I)
D. Research and development director (I)
E. Purchasing manager (I)
F. Human resources director (I)
G. Production supervisors (I)
H. Distribution managers (I)
Financial statements:
Income statement (I): Reports a company's revenues and expenses over a specific period. Balance sheet (B): Reports a company's assets, liabilities, and equity at a specific point in time.
Therefore, Statement of owner's equity (OE): Reports the changes in a company's equity over a specific period. Statement of cash flows (CF): Reports a company's cash inflows and outflows over a specific period.
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Which is the one way the business writing is different from argumentative writing
Answer:
Business writing and argumentative writing are two different types of writing and have different objectives. Business writing is more focused on informing, persuading, and convincing the audience to take specific actions that benefit the organization. In contrast, argumentative writing is more focused on presenting a claim or position, supporting it with evidence, and persuading the audience to agree with the argument. One key difference between business writing and argumentative writing is the tone and style. Business writing is more formal, concise, and professional, using a straightforward and informative tone. In contrast, argumentative writing can be more emotional, persuasive, and even confrontational, using strong language and persuasive techniques to convince the reader. Another difference is the purpose of the writing. Business writing aims to solve a problem, provide information, or make a recommendation that benefits the organization. Argumentative writing aims to persuade the reader to accept a particular point of view
define nationalism and privateastion provideing examples
Answer:
Privatization is when a business that is owned by the government is sold TO an individual. Nationalization is when the government buys a certain business or firm FROM an individual in the private sector.
Explanation:
Accounting for a Corporation: Mastery Test
Select the correct answer.
What is the total value of tangible assets that will be reflected in the balance sheet?
Land
5,000
Building
40,000
Plant and Equipment
20,000
Commercial Vehicles
35,000
Accumulated Depreciation 30,000
OA. $80,000
OB. $60,000
O C. $100,000
OD. $70,000
Answer: $70,000
Explanation:
Given balance sheet:
Land-5,000
Building-40,000
Plant and Equipment-20,000
Commercial Vehicles-35,000
Total Value of Tangible Assets = Land + Building + Plant and Equipment + Commercial Vehicles - Accumulated Depreciation
Total Value of Tangible Assets = 5,000 + 40,000 + 20,000 + 35,000 - 30,000
Total Value of Tangible Assets = 70,000
Kalki and Kumud were partners sharing profits and losses in the ratio of 5:3. On 1st
April,2021 they admitted Kaushtubh as a new partner and a new ratio was decided as 3:2:1.
Goodwill of the firm was valued as ₹3,60,000. Kaushtubh couldn’t bring any amount for
goodwill. Amount of goodwill share to be credited to Kalki and Kumud Account’s will be:
The amount of goodwill to be credited to the Kalki and Kumud's accounts will be ₹1,80,000 and ₹1,20,000 respectively.
What is goodwill?Goodwill refers to the intangible value of a company that is derived from its reputation, brand recognition, customer loyalty, and other non-physical assets. It represents difference between the purchase price of company and the fair market value of its net assets. Goodwill is recognized as an asset on a company's balance sheet, and it is usually created when a company is acquired in a merger or acquisition. Goodwill is important because it can enhance a company's ability to generate future profits, attract new customers, and maintain its competitive advantage in the market. However, it is also subject to impairment, which occurs when the value of goodwill on a company's balance sheet exceeds its actual value. Impairment can result in a write-down of goodwill, which can have a negative impact on a company's financial statements and its overall valuation.
Total new ratio = 3 + 2 + 1 = 6
New ratio of Kalki = 3/6 = 1/2
New ratio of Kumud = 2/6 = 1/3
Goodwill to be credited to Kalki = (New ratio of Kalki/Total new ratio) * Goodwill value - Amount paid by Kaushtubh for the goodwill
Goodwill to be credited to Kalki = (1/2) x 3,60,000 - 0 = 1,80,000
Goodwill to be credited to Kumud = (1/3) x 3,60,000 - 0 = 1,20,000
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Q. Which of the following statements is FALSE?
A. Financial advisors recommend saving a set amount each month for emergencies. B. To find out what your actual expenses are, you should track all of your expenses and purchases for one month.
C. When estimating your expected income for your budget, estimate on the high side. D. If you spend less than you budgeted for, you are under budget.
The statement that is FALSE is D. If you spend less than you budgeted for, you are under budget.
Why is the statement false?This is not necessarily true because it depends on the reason for spending less. If you spent less because you didn't have enough money to cover all your expenses, or because you didn't purchase necessary items, then you are not truly under budget. Additionally, it is important to review your budget regularly to make sure you are on track with your financial goals, and to adjust your budget as needed based on changes in your income or expenses.
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