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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Warner Company has $196,000 of total fixed costs and sells products A and B with a product mix of 40% A and 60% B. Selling prices and variable costs for A and B result in contribution margins per unit of $8 and $4, respectively. Compute the break-even point. Enter product mix answers in decimal form. Round weighted average unit contribution margin to two decimal places, if applicable.
The break-even point of Warner Company is 3,500 units.
Here, we are going to calculate the break-even point of Warner Company.
Product Product Mix Contribution margin Weighted Average unit
[1] per unit[2} contribution margin[1*2]
A 40% $8 $3.2
B 60% $4 $2.4
Total $5,6
Formula for Break Even point is Fixed cost / Weighted average unit contribution margin
Break-even point = $196,000 / $5,6
Break-even point = 3,500 units
Therefore, the break-even point of Warner Company is 3,500 units.
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Summarize your results of the personality assessment and how you think these elements might help or hinder you as a leader.
Personality assessment refers to the proficiency in professional psychology that's vital in measuring the personal characteristics of a person.
Personality assessment can also be used in diagnosing psychological problems and screening candidates for college and employment.
Personality assessment is important as it's vital in fueling leadership development. It can also be used by a leader to uncover deep insights about himself or herself.
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What experiences have led you to choose a certain career?
Answer:
From a personal experience they're a lot of moments in my life that led up to my decision to choose my career. From being constantly told that I was really good at something and that I was made for this certain career path, and just influences from others who are in the same work I am in and how good they were at their job and inspiring me to be just like them. All of those together helped influence me to choose the career that I am now working hard everyday to make sure I achieve success in.
Hope this helps.
First month plus a security deposit is an example of this operating expense.
Equipment
Rent
O Fixtures
Advertising
Answer:
Your answer would be "Rent"
Explanation:
Hope I was able to help ! Have a great day :)
Newton Company has the following accounts in its general ledger at July 31: Accounts Receivable $40,000 and Allowance for Doubtful Accounts $2,500. During August, the following transactions occurred. Oct. 15 Sold $15,000 of accounts receivable to Fast Factors, Inc. who assesses a 3% finance charge. 25 Made sales of $800 on VISA credit cards. The credit card service charge is 2%.
Based on the transactions that occurred on Aug. 15 and Oct. 25 the appropriate journal entries for Newton Company are:
Aug. 15
Debit Cash $14,550
($15,000×97%)
Debit Service Charge Expense $450
($15,000×3%)
Credit Accounts Receivable $15000
Oct. 25
Debit Cash $784
($800×98%)
Debit Service Charge Expense $16
($15,000×2%)
Credit Sales Revenue $800
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Provided travel services to group of travelers; they paid $22,500 now and will pay $4,500 later
Recording the transaction of providing travel services to the travelers, who paid $22,500 with a balance of $4,500 in the books of the Travel Services Corporation include:
Journal Entries:
Debit Cash $22,500
Debit Accounts Receivable $4,500
Credit Service Revenue $27,000
To record the provision of travel services for cash and on credit.Data Analysis:
Cash $22,500 Accounts Receivable $4,500 Service Revenue $27,000
Thus, the total service revenue recorded for this transaction is $27,000.
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What was your largest contributor from indoor water? Why?
I need description
Sam and Devon agree to go into business together selling college-licensed clothing. According to the agreement, Sam will contribute inventory valued at $110,000 in return for 80 percent of the stock in the corporation. Sam’s tax basis in the inventory is $55,000. Devon will receive 20 percent of the stock in return for providing accounting services to the corporation (these qualify as organizational expenditures). The accounting services are valued at $27,500. (Negative amount should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)
Assume Devon received 25 percent of the stock in the corporation in return for his services.
g. What amount of income, gain, or loss does Devon recognize on the formation of the corporation? (Do not round intermediate calculations. Round your final answer to the nearest whole dollar amount.)
Answer:
Explanation:
$38,500
hina's growth rate of real GDP in 2005 and 2006 was 10.5 percent a year and its population growth rate was 0.5 percent a year. If these growth rates continue, in what year would real GDP per person be twice what is was in 2006? If these growth rates continue, real GDP per person would be twice what is was in 2006 at the end of _______.
Considering the situation described above, if these growth rates continue, the real GDP will be twice what it was in 2006 during the year "2013."
This is based on the Rule of 70. The rule of 70 states that the number of years needed for any variable to double is approximately 70, divided by the annual percentage growth rate of the variable.
Thus, given that the Real GDP is growing at 10.5 percent a year;
We have 70 ÷ 10.5 = 6.7;
Therefore, the Real GDP will double in 6.7 years, which is during the year 2013.
Hence, in this case, it is concluded that the correct answer is 2013.
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You work in a company that has begun selling annual subscriptions to its new online magazine. During December, the company sold the first subscriptions, receiving $600,000, which represents one-fifth of its revenues from all sources for the year. The entire amount has been collected in cash. As the end of the the year approaches, you notice that the company recorded the entire $600,000 to revenue and there is no plan to make an adjusting entry.
Draft a memo around two paragraphs in length to your supervisor, which explains the following:
The accounting error that has been made
The effect this error will have on the financial statements dated at the end of December
The problems that might result
The importance of fixing the error and what needs to be done to fix the error
Make sure to include proper grammar, spelling, etc.
The memo will indicate the accounting error that has been made and its effect on the financial statements.
The amount of $600,000 collected from the sale of the annual subscription to the new online magazine is the amount that was collected for the upcoming period of 12 months which will start by December of the current year.
Only $50000 of the amount will be recorded for the year. The related services for the remaining eleven months will then be $550000 and this should be reported as the unearned revenue.
The effect of the error is that there'll be an overstating of the net income or the current period by an amount of $550000 and there'll also be an understatement of the current liabilities by $550000.
In conclusion, the error needs to be fixed by debiting the revenue by $550000 and then crediting the unearned revenue by $550000.
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m is studying the delivery times of two raw material suppliers. The firm is basically satisfied with supplier A and is prepared to stay with that supplier if the mean delivery time is the same as or less than that of supplier B. However, if the firm finds that the mean delivery time of supplier B is less than that of supplier A, it will begin making raw material purchases from supplier B.
Answer:
So in other words your company or business is looking for the most consistent/reliable supplier who's supply rate is the better out of the two according to overall and long-term supply of said product
the pigmalion effect applies to consumer behavior?
The Pygmalion effect is where an individual's performance is influenced by others' expectations. In other words, higher expectations lead to higher performance. However, the Pygmalion effect specifically refers to how our expectations of others affect our behavior towards them.
Explanation:
The Pygmalion effect is where an individual's performance is influenced by others' expectations. In other words, higher expectations lead to higher performance. However, the Pygmalion effect specifically refers to how our expectations of others affect our behavior towards them.
The Pygmalion effect, or Rosenthal effect, is a psychological phenomenon wherein high expectations lead to improved performance in a given area. The effect is named after the Greek myth of Pygmalion, a sculptor who fell in love with a statue he had carved, or alternately, after the psychologist Robert Rosenthal.
Consider the following probability distribution for stocks A and B: State Probability Return on Stock A Return on Stock B 1 0.10 10 % 8 % 2 0.20 13 % 7 % 3 0.20 12 % 6 % 4 0.30 14 % 9 % 5 0.20 15 % 8 % The expected rates of return of stocks A and B are _____ and _____, respectively. Multiple Choice 7.7%; 13.2% 14%; 10% 13.2%; 9% 13.2%; 7.7%
The expected rates of return of stocks A and B are 13.2% and 7.7% respectively.
The expected rate of return refers to the profit or loss that an investor can anticipate on an investment.
The expected rate of return of stocks A will be:
= 0.1(10%) + 0.2(13%) + 0.2(12%) + 0.3(14%) + 0.2(15%)
= 13.2%
The expected rate of return for stocks B will be:
= 0.1(8%) + 0.2(7%) + 0.2(6%) + 0.3(9%) + 0.2(8%)
= 7.7%
In conclusion, the expected rates of return of stocks A and B are 13.2% and 7.7% respectively.
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Until 1992, the Walt Disney Company had experienced nothing but success in the theme park business. Its first park, Disneyland, opened in Anaheim, California, in 1955. Its theme song, It’s a Small World After All, promoted an idealized vision of America spiced with reassuring glimpses of exotic cultures all calculated to promote heartwarming feelings about living together as one happy family. There were dark tunnels and bumpy rides to scare the children a little but none of the terrors of the real world. The Disney characters that everyone knew from the cartoons and comic books were on hand to shepherd the guests and to direct them to the Mickey Mouse watches and Little Mermaid records. The Anaheim park was an
The Anaheim park was an instant success, which Walt Disney Company replicated in Florida and Tokyo but failed to export to Paris, France.
The failure of Disney Paris was the result of a misunderstanding of the cultural peculiarities of the French. Some Frenchmen described the introduction of Disney Paris as "a cultural Chernobyl" and "a symbol of American cliches and consumer society."
Despite the envisaged 30,000 jobs that Disney Paris was to create and the demographic centrality of Paris in Europe, the diversification in Europe flopped.
Thus, Disney's misadventure in Europe became a short-lived and disastrous dream for the Walt Disney Company because of cultural misunderstanding.
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1. Which of these approaches is not a way of harnessing open innovation across the internet?
a. Innovation contests
b. Innovation communities
c. Online storage
d. Innovation markets
AMSWER :
1. C. Online Storage
hope it helps❤
Online storage is not a way of harnessing open innovation across the internet. Option C is the correct answer.
Online storage, such as cloud storage services, provides a means to store and access digital files over the internet. While online storage is useful for sharing and collaborating on files, it does not inherently contribute to open innovation as it focuses on data storage rather than idea generation or collaboration. Option C is the correct answer.
Innovation contests involve soliciting ideas or solutions from a wide range of individuals or groups through an open call for submissions. Innovation communities refer to online platforms or networks where individuals with shared interests and expertise come together to collaborate and exchange ideas. Innovation markets, also known as idea markets or innovation exchanges, are online platforms that enable the buying, selling, or licensing of innovative ideas or intellectual property.
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Graphs can be used to estimate information not represented on the graph. Please select the best answer from the choices provided T F
Answer:
True :)
Explanation:
The answer is true :)
Please mark brainliest if you get it right! :)
Answer:
True shahzadanwar25
is correct.
(give that person brainliest lol)
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Answer:
lol so much linkExplanation:
C and b both are right?
Which of the following
questions is a macroeconomic issue?
A) How many more pounds of cookies will a consumer purchase if the price of cookies decreases?
B) What effect would a cure for Mad Cow Disease have on the market for beef?
C) What is the future growth prospect for an economy?
D) How many workers should the owner of a business hire?
Answer:
c and d is both right
Explanation:
sehdhdhfhfbfhdbdhfbfjfnf
Harriet is currently in pay grade 8, but she is hoping to get a promotion so she can move into
pay grade 10 or above. Which of the following methods of job evaluation is used at Harriet's
company?
a. computerized
b. ranking
c. point
d. classification
The type of job evaluation that is done if Harriet is hoping to move from grade 8 to 10 is known as job ranking.
Job ranking can be described as a type of classification that is based on the value or the hierarchy of a person in an organization.
All the jobs in the company are ranked based on their worth and the employees are placed on the grade based on their value.
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Questions-
.............
Answer:
????
Explanation:
where the questions
Webster's Words has a printing press which they are not using at the present time. In fact, they have not used this equipment for two years. The equipment has no market value because it has been customized to their particular operations. They could sell the machine as scrap metal for $1,500 maximum. The press is eight years old and cost $163,000 new. The current book value is $2,100. The company is trying to decide if a new project would be a feasible means of utilizing this equipment. The value of the press that should be included in the project analysis is:
The value of the press that Webster's Words should include in the project analysis is $1,500.
The two major considerations in a project analysis are the cost of the project input and the value that the project's output will generate for the entity.
In this scenario, the current book value of the press is not relevant in the project analysis. The scrap value should be considered as it produces a value that can reduce the project's cost and not the committed or sunk cost of the old press.
Data and Calculations:
Maximum scrap value of press = $1,500
Initial cost of the press eight years ago = $163,000
Current book value = $2,100
Relevant value of the press = $1,500 (scrap value)
Thus, the value of the press in the project analysis is $1,500.
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Scenario: Marsha Jones is a recent college graduate. She worked during college and managed to save $2,000 in her savings account. The balance of her checking account (cash) is $440. During her freshman year, Marsha used a credit card and now owes $1,250 to that credit card company. She has two school loans: one for $5,000 and the other one for $3,000. She also has a car loan that started out at $12,500, which she now owes $4,600.
Use this information to make in Marsha's Balance Sheet.
Marsha's Balance Sheet shows that she owes more money than she has.
The balance sheet is an economic term that refers to the graph or method to know the economic status of a person.
The most basic way to do a balance sheet is by including debts (liabilities) and income (assets).
This information is useful for a company or an individual to modify their economic practices in case they are spending more money than they are earning.
In this case, Marsha has more debts than the money she has, so she should worry about not acquiring services or goods on credit because she will not have enough money to pay.
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Assume the risk-free rate is 8% and the expected rate of return on the market is 18%. A share of stock is now selling for $100. It will pay a dividend of $9 per share at the end of the year. Its beta is 1. What do investors expect the stock to sell for at the end of the year
The price of the investors can expect the stock to be sold at the end of the year is $109.
The price of the investors can expect the stock to be sold at the end of the year can be determined using this formula:
Stock price = d1 / (r - g)
d1 = next dividend to be paid = $9
r = cost of equity
g = dividend growth rate
The cost of equity would be determined using the capital asset pricing model:
Risk free rate + beta(market rate of return - risk free rate)
8% + 1(18% - 8%) = 18%
The dividend growth rate can be determined using this equation:
100 = $9 / ( 18% - g)
g = 9%
Stock price = $9(1 + 0.9) / (0.18 - 0.09)
9.81 / 0.09 = $109
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The following information is available for Water Inc. Date Units Unit Cost January 1, 2020 (beginning inventory) 100 $50.00 Purchases: January 10, 2020 75 52.00 January 15, 2020 150 52.50 January 30, 2020 100 55.00 The company maintains a periodic inventory system. A physical count shows 125 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the FIFO inventory method
Answer:
125 and $15,156.6
Explanation:
The end inventory us 125 units and thus 300 units were sold
Camilla works as a data entry specialist in the local government offices. The government office is trying to update by getting rid of all paper records. Which is where Camilla comes in. What is one task that Camilla might have as part of the job
I will give 20 points And brainliest
Answer:
Camilia would likely have to either 1. scan the documents to online or 2. Copy all information on the documents to online. Due to it being a government officer, all documents are likely important and will be copied to the cloud/drive.
Explanation:
This is just a answer using logic, not any actual definitions.
Answer:
scanning the records into the system
Explanation:
its the most logical considering they want all paper records gone, but probably want to keep them in the system
Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. The company purchased $44,200 in fixed assets and had a depreciation expense of $17,705. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What was the company's cash flow from assets
If Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What the company's cash flow from assets will be is: $48,371
First step is to calculate the cash flow to creditor
Cash flow to creditors = $21,700 + $29,571
Cash flow to creditors = $51,271
Second step is to calculate the cash flow to Stockholders
Cash flow to Stockholders =$28,400 - $25,500
Cash flow to Stockholders =$2,900
Now let determine the cash flow from assets using this formula
Cash flow from assets = Cash flow to creditors + Cash flow to stockholders
Let plug in the formula
Cash flow from assets = $51,271 + $2,900
Cash flow from assets = $48,371
Inconclusion if Green Co. paid $28,400 in dividends and $29,571 in interest over the past year. During the year, net working capital increased from $13,986 to $18,719. During the year, the company issued $25,500 in new equity and paid off $21,700 in long-term debt. What the company's cash flow from assets will be is: $48,371
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What comparison can be made between command economies and market economies?
etafset
Answer:
The difference between command economy's and market economy's is that a command economy the government controls what is produced and how it will be shared. and in a market economy people have more freedom and can make their own decisions.
Explanation:
For creating perception, companies make use of strategic tools like ___ _
a) Service contracts
b) O Sales calls
c) User training
d) Websites
The meaning of strategy and how the approach to strategy has changed over time.
The relationships and differences among corporate, business, and marketing strategy.
The concept and process of corporate strategic planning.
The role of the product in a marketing strategy and the many aspects of the product that can be used to tailor the strategy.
The role of customer choice in marketing strategy and the logic of choosing customers.
The role of market area choice in marketing strategy and ways to choose market areas.
Core competencies as part of marketing strategy.
The interrelationship among product, customer, market area, and core competency decisions.
The logical connections among strategies, structures, and functions as outlined in the Integrated Model of Marketing Planning (IMMP).
Earliest finish time (EF) is the earliest time by which a specific activity can be completed, calculated Question 37 options:___.
a. by subtracting the activity’s estimated duration from the earliest finish time of the activity's predecessor: EF = EF predecessor - Estimated Duration.
b. by subtracting the activity’s estimated duration to the activity’s earliest start time: EF = ES - Estimated Duration.
c. by adding the activity’s estimated duration to the earliest start time of the activity's succeeding activity: EF = ES succeeding activity + Estimated Duration.
d. by adding the activity’s estimated duration to the activity’s earliest start time: EF = ES + Estimated Duration
The Earliest finish time (EF) is the earliest time by which a specific activity can be completed; it is calculated "by adding the activity’s estimated duration to the activity’s earliest start time: EF = ES + Estimated Duration."
This is because to know the Earliest finish time, one needs to have the Estimated duration or completion time of the project.
Then, the Estimated Duration would the added to the Earliest Start time to get the Earliest Finish Time.
This is based on the Critical Path method of determining the project duration.
Hence, in this case, it is concluded that the correct answer is option D.
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A family wants to be able to give their child $5,000 per year for 4 years of college. The child will leave for college in 8 years, at which point the family will stop contributing to the college fund. How much money should be set aside each year on the child's birthday in order to follow through with this plan
Answer:
$2500
Explanation:
An amount of $1,245 should be set aside each year on the child's birthday to follow through with the plan of giving $5,000 per year for 4 years of college. Option C is the correct answer.
To determine the amount of money that should be set aside each year on the child's birthday to follow through with the plan of giving $5,000 per year for 4 years of college, we need to calculate the annual payment (P) using the present value of an annuity formula. Option C is the correct answer.
The present value of an annuity formula is given by: PV = P * [1 - (1 + r)^(-n)] / r
Where PV is the desired future value, r is the interest rate, and n is the number of years. In this case, the desired future value is $5,000 per year for 4 years, so PV = $5,000 * 4 = $20,000.
The interest rate is given as 10%, so r = 0.10.
The child will leave for college in 8 years, so n = 8.
Now, let's calculate the annual payment (P): P = ($20,000 * 0.10) / [1 - (1 + 0.10)^(-8)]
Simplifying the equation further, we get: P = $2,000 / [1 - (1.10)^(-8)]
P ≈ $1,245
Therefore, the amount of money that should be set aside each year on the child's birthday in order to follow through with this plan is approximately $1,245.
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The complete question is, "A family wants to be able to give their child $5,000 per year for 4 years of college. The child will leave for college in 8 years, at which point the family will stop contributing to the college fund. How much money should be set aside each year on the child's birthday in order to follow through with this plan? Assume an interest rate of 10%.
a. $1,291
b. $1,386
c. $1,245
d. $957"