Answer: $1,400,000
Explanation:
The checks to creditors were only mailed out in January so the creditor accounts had not been settled in December.
The goods purchased on December 28 should be included in the accounts payable account.
The goods that were shipped FOB Destination and were not yet delivered at year end will not be accounted for because FOB destination means that Dole will only take ownership when it reaches them.
Accounts payable is therefore:
= 900,000 + 350,000 + 150,000
= $1,400,000
A company's financial objectives Multiple choice question. are lagging indicators that provide evidence of the success or failure of the company's past activities. are the most reliable predictors of future success in the marketplace. are leading indicators of a company's future financial performance and business prospects. signal that the company is well-positioned to sustain or improve performance.
Answer:
are leading indicators of a company's future financial performance and business prospects.
Explanation:
Various sorts of purposes, particularly financial objectives, are created by company owners to provide them with a strong strategy for following the path of comprising a cumulative Increased income, increased profit margins, retrenchment in times of adversity, and gaining good return on the investment are all key business company objectives.
Yasmin listed a house at a 6% commission rate, and it just sold for $463,500. Her brokerage and the buyer’s agent’s brokerage split the commission equally between them. Then Yasmin, who has a 60/40 commission split with her broker (Yasmin gets the higher split), took her check to the bank. How much did Yasmin earn from this transaction?
Answer:
$8,343
Explanation:
Calculation to determine How much did Yasmin earn from this transaction
First step to calculate the Total commission from sale
Total commission from sale= ($463,500 × 0.06)
Total commission from sale=$27,810
Second step is to calculate Yasmin's firm's share
Yasmin's firm's share= ($27,810 ÷ 2)
Yasmin's firm's share=$13,905
Now let calculate How much did Yasmin earn from this transaction
Yasmin's Earning = ($13,905 × 0.60)
Yasmin's Earning=$8,343
Therefore the amount that Yasmin earn from this transaction is $8,343
A corporation distributes a 10 percent common stock dividend on 30,000 shares issued when the market value of it's common stock is $24 per share and its par value is $2 per share. On the distribution date, a credit _ would be journalized
Answer:6,000
Explanation:
I just took the test
What is the definition of customer service?
A. The advice provided by a customer service rep over the phone.
B. The advice given between employees to help customers.
C. The assistance provided by a company to people who buy or use its products or services.
D. The assistance provided by a sales rep on the sales floor.
Near the end of 2010, the ledger of Stivers Company included the following accounts and balances: Allowance for Doubtful Accounts$ 1,000credit balance Bad Debt Expense 0balance Accounts Receivable 200,000 debit balance Cash collections on accounts receivable during 2010 amounted to $450,000. Sales revenue during 2010 amounted to $800,000, of which 75% was on credit, and it was estimated that 2% of the credit sales made in 2010 would ultimately become uncollectible. Before adjusting entries were made for 2010, a $10,000 account was determined to be uncollectible and written off by Stivers. In the adjustment process, Bad Debt Expense was recorded to 2010. This information is not reflected in the account balances above.After the above entries were posted to the ledger, calculate the balances of the Allowance for Doubtful Accounts, Bad Debt Expense and Accounts Receivable. Indicate whether the balance is a debit or a credit.
Answer and Explanation:
The computation of the balances of the Allowance for Doubtful Accounts, Bad Debt Expense and Accounts Receivable is shown below;
For Accounts receivable
a) Opening balance $200,000 Debit balance
b) Current year credit sales (75% of $800,000) $600,000 Debit balance
c) (-) Current collection from accounts receivables -$450,000 Credit balance
d) (-) Bad debt expenses -$11,000 Credit balance
e) Closing balance of accounts receivables $339,000 Debit balance
for Allowance for Doubtful Accounts
Allowance required as per Current year analysis (2% of (75% of $800,000) $12,000 Credit balance
(-) Opening balance $1,000 Credit balance
$11,000 Credit balance
The journal entry is
Bad debt expense a/c …Dr 11000
To Allowance for Doubtful Accounts 11000
The Closing balance of Allowance for Doubtful Accounts 12000 Credit balance
For Bad debt expenses
The journal entry is
Bad debt expense a/c …Dr 11000
To Allowance for Doubtful Accounts 11000
The Closing balance of Bad debt expense account 0
Comfy Cozy Chairs makes and sells rockers. Each rocker requires $45 of direct materials and $37 of direct labor. Variable manufacturing overhead is $8 per unit, and fixed manufacturing overhead totals $58,000. Variable selling and administrative costs are $15 per unit, and fixed selling and administrative costs total $102,000. During the period, 2,000 rockers were produced and 1,640 were sold. The unit product cost using absorption costing is ______.
Answer:
the unit product cost using absorption costing is $119
Explanation:
The computation of the unit product cost using absorption costing is given below:
= Direct material per unit + direct labor per unit + variable manufacturing cost per unit + fixed manufacturing cost
= $45 + $37 + $8 + ($58,000 ÷ 2000)
= $119
Hence, the unit product cost using absorption costing is $119
Rightway Construction's project manager has been given the task of planning and implementing the construction of a playground for the city of Northville. All construction plans and documents have been provided as well as a budget amount and completion date. Based on the above scenario, and assuming the project manager has studied all construction plans and documents and reviewed the budget, the next step for the manager will be to __________.
Explanation:
create a project schedule flow chart
The following events took place for Digital Vibe Manufacturing Company during March, the first month of its operations as a producer of digital video monitors: Purchased $42,200 of materials. Used $32,500 of direct materials in production. Incurred $48,500 of direct labor wages. Incurred $68,400 of factory overhead. Transferred $113,500 of work in process to finished goods. Sold goods for $203,000. Sold goods with a cost of $90,300. Incurred $51,900 of selling expense. Incurred $22,800 of administrative expense.
Answer:
Missing word "Using the information given, complete the following: a. Prepare the March income statement for Digital Vibe Manufacturing Company. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries."
Income statement
Particulars Amount
Sales $203,000
Less: Cost of goods sold $90,300
Gross profit $112,700
Operating expense
Selling expense $51,900
Administrative expense $22,800
Total operating expense $74,700
Operating income $38,000
A utility vehicle purchased by Knox Industries should last 110,000 miles. The acquisition cost was $21,400 and the salvage value is $1,926. Using the UOP depreciation method, given the annual usage information, calculate the accumulated depreciation at the end of year 2. (Round all dollar amounts to the nearest cent) YEAR MILES YEAR MILES 1 22,029 2 22,724 3 23,420 4 23,188
Answer:
$7,922.91
Explanation:
The computation of the accumulated depreciation at the end of year 2 is as followS:
But before that the depreciation rate is
= ($21,400 - $1,926) ÷ 110,000 miles
= 0.177
Now the first year depreciation is
= 0.177 × 22029
= $3,899.93
For year 2, it is
= 0.177 × 22,724
= $4,022. 97
So, the accumulated depreciation at the end of year 2 is
= $3,899.93 + $4022.97
= $7,922.91
Cullumber Company incurred $800000 of research and development costs in its laboratory to develop a new product. It spent $150000 in legal fees for a patent granted on January 2, 2017. On July 31, 2017, Cullumber paid $62000 for legal fees in a successful defense of the patent. What is the total amount that should be debited to Patents through July 31, 2017
Answer:
$212,000
Explanation:
Calculation to determine the total amount that should be debited to Patents through July 31, 2017
Using this formula
Total amount debited to Patents=Legal fees for patent+Legal fees in a successful defense of patent
Let plug in the formula
Total amount debited to Patents=$150,000+$62,000
Total amount debited to Patents=$212,000
Therefore the total amount that should be debited to Patents through July 31, 2017 is $212,000
Identify and explain one advantage and one disadvantage of leasing all the equipment used in the business.
Answer:
Advantage Is You Save Money, Disadvantage Is The Way That There's Not Enough Or Its Not Good Enough
Explanation:
Basically Yea
Sandra Wilson is paid one and one-half times the regular hourly rate for all hours worked in excess of 40 hours per week and double time for work on Sunday. Wilson's regular rate is $12 per hour. During the week ended July 3, she worked 9 hours each day from Monday through Friday, 6 hours on Saturday, and 4 hours on Sunday. Wilson's overtime earnings for the week ended July 3 are a.$294. b.$180. c.$430. d.$360.
Answer:
a. $294
Explanation:
Number of hours worked each day = 9 hours
From Monday - Friday = 5 days
Total hours worked from Mon to Fri = 9 hours * 5 days
Total hours worked from Mon to Fri = 45 hours
Excess hours worked in 5 days = 45 hours - 40 hours
Excess hours worked in 5 days = 5 hours
Regular rate = $12 per hour
Hourly rate in excess of regular hours worked = $12 * 1.5
Hourly rate in excess of regular hours worked = $18
Total excess hours worked till Saturday = 5 hours + 6 hours
Total excess hours worked till Saturday = 11 hours
Hours worked on Sunday = 4 hours
Hourly rate for worked on Sunday = $12 * 2
Hourly rate for worked on Sunday = $24
Overtime earnings = (Total excess hours worked till Saturday * Hourly rate in excess of regular hours worked) + (Hours worked on Sunday * Hours worked on Sunday)
Overtime earnings = (11 hours * $18) + (4 hours * $24)
Overtime earnings = $198 + $96
Overtime earnings = $294
Karsten had a great experience with his apartment and landlord until about two months ago, when the plumbing in the unit above started leaking into his apartment. The landlord keeps saying he’ll fix it but hasn’t, and now Karsten has mold growing on the ceiling and walls. Karsten is moving out before his lease has expired, which is a form of ______.
Answer:
Constructive eviction
Explanation:
Constructive Eviction can be said to mean a term usually used in the law when it comes to real estate and or properties. It is used to describe any situation where the landlord does something or does nothing, when s/he is meant to have done so, as expected by law. This then leads to the property being inhabitable.
A house is being appraised using the sales comparison approach. The house has four bedrooms, three bathrooms, and no pool. The appraiser selects a comparable house that has three bedrooms, three bathrooms, and a pool. The comparable house just sold for $280,000. A bedroom is valued at $18,000, and a pool at $15,000. Assuming all else is equal, what is the adjusted value of the comparable?
Answer:
$283,000
Explanation:
Calculation to determine the adjusted value of the comparable
Using this formula
Adjusted value of the comparable= Comparable houseValue +Bedroom value- Pool value
Let plug in the formula
Adjusted value of the comparable=$280,000+$18,000-$15,000
Adjusted value of the comparable=$283,000
Therefore the adjusted value of the comparable is $283,000
At December 31, Gill Co. reported accounts receivable of $246,000 and an allowance for uncollectible accounts of $1,200 (debit) before any adjustments. An analysis of accounts receivable suggests that the allowance for uncollectible accounts should be 4% of accounts receivable. The amount of the adjustment for uncollectible accounts would be:
Answer:
the amount of the adjustment for uncollectible accounts would be $11,040
Explanation:
The computation of the amount of the adjustment for uncollectible accounts would be given below:
= Account receivable × uncollectible percentage + debit balance of the uncollectible accounts
= $246,000 × 4% + $1,200
= $9,480 + $1,200
= $11,040
Hence, the amount of the adjustment for uncollectible accounts would be $11,040
Mat Rollins, CEO of Rollins, Inc., decided that upon his retirement, he would elect his son Chris to become the new CEO. Mat thought it would be a good idea to have Chris shadow him at work to understand the roles and responsibilities of a CEO. Chris shadowed his father for months in order to learn every aspect of the business. Mat knew that the best way for Chris to learn was to actually perform some of the tasks he did on a daily basis, rather than simply describe them. The company generally focused on short-term financing, and Mat felt that it was important for Chris to understand the different types of financing. Chris learned about the type of bonds that the company usually offered to raise capital. These bonds allow the purchasers of the bond to keep them until maturity. Chris also learned the process of obtaining bonds and the various types of long-term financing methods. Job shadowing was indeed a worthwhile experience for Chris. Refer to Rollins, Inc. If Chris has learned and understood the business, he should know that today most corporate bonds are
Answer: registered bonds
Explanation:
A corporate bond refers to a bond which is issued by a corporation so as to raise financing for its ongoing operations, or the expansion of its business.
Corporations typically sell bonds when there's no enough fund for purchases, and when there is difficulty in selling stock. Based on the information given in the question, if Chris has learned and understood the business, he should know that today most corporate bonds are registered bonds.
Suppose that over the past year, the real interest rate was 6 percent and the inflation rate was -2 percent. It follows that a. the dollar value of savings increased at 8 percent, and the purchasing power of savings increased at 6 percent. b. the dollar value of savings increased at 8 percent, and the purchasing power of savings increased at 4 percent. c. the dollar value of savings increased at 4 percent, and the purchasing power of savings increased at 6 percent. d. the dollar value of savings increased at 4 percent, and the purchasing power of savings increased at 8 percent.
Answer:
d
Explanation:
Nominal interest rate = real interest rate + inflation rate
6 - 2 = 4%
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
if inflation declined by 2 percent, it means purchasing power increased by 2%.
Total increase in purchasing power = 6 + 2 = 8
What type(s) of compensation may be included in a human resource compensation system?
A. Indirect financial compensation
B. Non-Financial Compensation
C. Financial Compensation
D. Financial and non-financial compensation
Dividend growth rate is important to many investors. You are considering investing in a firm after looking at the firm's dividends over a sixyear period. At the end of the year 2010, the firm paid a dividend of $0.98. At yearend 2016, it paid a dividend of $1.64. What was the average annual growth rate of dividends for this firm?
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged
Explanation:
how to do presentation
Explanation:
You can go to Microsoft words or Power point..
These can help you type your presentation or if on phone you can go to normal Notes app or word app....
I hope this helps you
In your own words,explain why creating a budget and sticking to it is so important. Answer in at least 3-5 complete sentences.
Visit a nearby office of a company or consult the office of your school. study the various types of human resources working there. prepare a report . ❣️
Please help me immediately ❣️❣️❣️❣️❣️
Answer:
hi
Explanation:
A restaurant has sales revenue of $240,000, fixed costs of $100,800, and variable costs of $96,000. What is breakeven revenue?
Answer:
168,000
Explanation:
A 55 year old woman wishes to remove funds from her Individual Retirement Account to remodel her house. The customer is subject to: A no tax liability B regular income tax liability only on the amount withdrawn C 10% penalty tax only on the amount withdrawn D both regular income tax liability and 10% penalty tax on the amount withdrawn
Answer:
D
Explanation:
with the tax you have to pay and the withdraw amount i would say that that woman will have a happy retierment and remodle her house
The five situational influences that have an impact on the purchase decision process are ______. Multiple choice question. personal influences, the reference group, family, friends, and the Internet problem recognition, search, alternative evaluations, the decision process, and postpurchase behavior the purchase task, social surroundings, physical surroundings, temporal effects, and antecedent states habits, routines, problem solving, research, and delayed decisions
Answer:
the purchase task, social surroundings, physical surroundings, temporal effects, and antecedent states
Explanation:
Purchase decision can be regarded as thought process which gives a consumer leads starting from identification of a need to generating options, as well as choosing a specific product and brand. Some of this decision are minor such as buying of biscuits, other are major as seen in buying of houses. It is decision-making process that is been utilized by consumers as regards the market transactions before or during purchase as well as after the purchase of a good or service. It can be regarded as as particular type of a cost–benefit analysis when there is multiple alternatives. It should be noted that The five situational influences that have an impact on the purchase decision process are;
✓ antecedent states
✓the purchase task
✓physical surroundings
✓ temporal effects
✓social surroundings
These Situational influences can be regarded as temporary conditions which has effect on how buyers behave, in case whereby they
actually purchase your product, or do not buy, or buy additional products,
Suppose a recession occurs as a result of a supply shock, and instead of the economy naturally working its way back to equilibrium, the government uses policy to shift the aggregate demand curve to fight the recession. Using policy this way would quickly result in a new, higher level of real GDP and a permanently lower price level. bring real GDP back to potential GDP more slowly but would bring the price level back to the original price level more quickly. bring real GDP back to potential GDP more quickly but would result in a permanently higher price level. bring the price level back to its original level more quickly but would result in a permanently lower level of potential GDP.
Answer: bring real GDP back to potential GDP more quickly but would result in a permanently higher price level.
Explanation:
When the government uses fiscal policy to bring real GDP back to the potential GDP, the movement back to potential GDP occurs faster because the spending by government increases the aggregate demand in the economy much more faster.
A higher price level would be formed permanently however because the spending by government would lead to aggregate demand rising such that prices need to rise in order to reflect that goods are now more scarce in relation to demand.
what is the term for when businesses produce goods and services that consumers do not want
Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
The FINRA suitability rule requires all of the following EXCEPT: A Before a product or strategy can be recommended, a reasonable basis suitability determination must be completed, evaluating the investment's features, returns, costs and risks B Before a product or strategy can be recommended to a customer, it must be determined that the investment is suitable, based on that client's new account profile C Before a product or strategy can be recommended to a customer, it must be determined that the customer has the ability to meet the financial commitment required by the recommendation D Before a product or strategy can be recommended, the registered representative must understand and be able protect the client against the product's inherent risks
Answer: D. Before a product or strategy can be recommended, the registered representative must understand and be able protect the client against the product's inherent risks
Explanation:
There are some reviews with regards to FINRA suitability determinations whihc include:
• Reasonable Basis Suitability: This implies that after there has been a review of the returns, risks and costs of a product, the ones that has the best combination should be recommended.
Also, before a product can be recommended to a customer, the customer must be able to meet the financial commitment. The statement that "Before a product or strategy can be recommended, the registered representative must understand and be able protect the client against the product's inherent risks" is incorrect.
What does a speech-language pathologist do?
Answer:
they help treat and prevent disorders affecting an adult or a childs swallowing.
Explanation:
so basically, people who have trouble speaking or swallow alot while trying to speak see a speech-language pathologist to get treatment to be able to prevent this from happening and improving their speech. Not all cases have to do with swallowing sometimes its just a persons speech itself, sometimes even lisps.
These organization tend to be larger in size and small in numbers.
A)Corporation
B)Partnership
C)Cooperative
D)Proprietorship
Answer:
Alternative D
Explanation:
Because proprietorships are usually huge organizations that in a quantitive way is a few