The journal entry to record the initial transaction (Right of Use Asset and Lease Liability of $50,000) for Ely Roofing Contractors, who enters into a lease for the use of new equipment for 3 years at an annual lease payment of $6,000 is as follows:
Journal Entry:Debit Right of Use Asset $50,000
Credit Lease Liability $50,000
To record the initial transaction of the Lease Liability and the Right of Use Asset.How to record the initial lease transactions?The present value of annual lease payments is first computed.
With this figure, the recording of the asset and liability is completed by debiting the Right of Use Asset and crediting the Lease Liability account.
Data and Calculations:Annual lease payment = $6,000
Present value of lease payments = $50,000
Economic life of the equipment = 5 years
Lease term = 3 years
Nature of lease = finance lease
Initial Transaction Analysis:Right of Use Asset $50,000 Lease Liability $50,000
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A physical count of merchandise inventory on November 30 reveals that there are 82 units on hand. Assuming that the specific identification method is used and that ending inventory consists of 25 units from each of the three purchases and 7 units from the November 1 inventory, cost of goods sold is
After computing the cost of inventory that was sold, The Cost of Goods sold is given as $1,334.30.
The calculations related to the exercise are as follows:From the information provided (see full question attached),
Inventory at hand as at November 1:
there are 29 Units of Inventory at the cost of $5.90 dollars each.Purchases:
118 units are purchased at $6.30 dollars each;59 units are purchased at $6.15 dollars each; and88 units are bought at $6.50 dollars each.If at the end of the period there are 25 units each form the purchases above and 7 from the existing inventory as at Nov. 1st, then the cost of goods sold is:
((29-7) X 5.9) +((118-25) x 6.3) + ((59-25) x 6.15) + ((88-25) x 6.5))
= $1,334.30
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The Circular shape of a roundabout reduces what
A company has the following liabilities as of December 31:
Accounts payable $150,000
Notes payable (current portion) 217,000
Salaries and wages payable 55,000
Installment notes payable 1,140,000
Interest payable 32,000
Payroll taxes payable 15,500
What is the amount of total current liabilities reported on the balance sheet?
a. $319,500
b. $469,500
c. $1,609,500
d. $437,500
how goal succession take place? explain the condition responsible for goal succession
the new or modified goals are incorporated or substituted for the existing one in such a manner that they do not change the spirit of the existing goals
The new goals are such that individuals or the organisation are willing to state publicly.
Petropoulos Resorts common stock sells for $58.49 per share and pays an annual dividend that increases by 1.3 percent annually. The market rate of return on this stock is 12.6 percent. What is the amount of the last dividend paid
Assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.
DividendUsing this formula
PO=D0(1+g)/k-g
Let plug in the formula
$58.49 = D0× (1 + 0.013) ÷ (0.126 - 0.013)
$58.49 × 0.113 = D0 × (1 + 0.013)
6.60937=D0 × (1 + 0.013)
D0=6.60937/1.013
D0=$6.52
Inconclusion assuming the market rate of return on this stock is 12.6 percent, the amount of the last dividend paid is $6.52.
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BUS208 Case Studies in Business Administration
Case #2
1. Select ONE of the following (a through g).
a. A professional sports team
b. A gaming system company
c. An airline company
d. A consumer retail store
e. An automobile company
f. A computer company
2. Select a specific example of that category. For example, if you chose “a professional sports team,” you could select one of the following: Giants, Jets, Mets, Nets, Yankees, etc. Indicate the specific example you selected:
American AirLines
3. Analyze the external organizational environment for your choice. Identify at least TWO and preferably THREE aspects of EACH of the following that your choice must consider:
a. General environment
i. International dimension
1.American Airlines is the largest airline in 2020.
2. American Airlines traveled 240 destinations in the U.S, Canada,
The Caribbean and Mexico.
3.American airlines headquarters is in dallas fort worth.
ii. Technological dimension
1.Electronic wallet
2. Mobile ID
3.Virtual Assistant
iii. Sociocultural dimension
1.Ethics and human rights(provide the director with a report for unethic)
2.Sustainability and climate change
3.Give customer a great experience
(continued)
iv. Economic dimension
1.Boarding with 1 carry on & one personal item.
2.AAdvantage credit card member.
v. Legal-political dimension
b. Task environment
i. Customers
ii. Competitors
iii. Suppliers
iv. Labor market
(continued)
4. Conduct a situation analysis using a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis that assesses the environment for your selected organization.
A SWOT analysis is categorizing the information that you gathered in the environmental analysis that you performed in the first half of this case. Some of the information you listed may not qualify as a strength, weakness, opportunity, or threat, however – it may be neutral. You should have at least TWO items EACH for strengths, weaknesses, opportunities, and threats and preferably THREE aspects for at least two of these.
Positive Negative
Internal Strengths:
Weaknesses:
External Opportunities:
Threats:
Answer:
I did not know some things
When an installment note is issued, the journal entry will include a __________ to __________.
a. debit; Notes Payable
b. debit; Cash
c. credit; Cash
d. credit; Notes Receivable
Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a large, multinational corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make $8,000 in gross monthly income and pay 40% in taxes and withholdings every month. Between them they have monthly payment of $400 in student loans and $700 in car loans, and their credit cards payments average $450 per month. They currently lease a luxury condo for $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of hours, they eat out at restaurants for most meals. They currently have nothing in savings but Hector's grandparents have said they will give them a 20% down payment for the new home. Assuming a PITI of approximately $1,300 for the townhouse, will they be approved for a mortgage?
Assuming a PITI of approximately $1,300 for the townhouse, and given Hector and Maria's PITI of $4,300, the couple will not be approved for a mortgage.
What is PITI?The PITI means principal, interest, taxes, and insurance. Traditionally, the PITI should not exceed 28% of the gross income of Hector and Maria.
Since they both earn a gross monthly income of $8,000, they are likely to get approved for the mortgage but for the townhouse's limit of $1,300.
Data and Calculations:Gross monthly income = $8,000
PITI maximum = 28% or $2,240 ($8,000 x 28%)
Taxes and withholdings per month = 40% or $3,200 ($8,000 x 40%)
Student loans payments = $400
Car loans payments = $700
Approximate PITI per month = $4,300
Excluded in PITI calculations:
Credit cards payments per month = $450
Lease for luxury condo per month = $1,400
Thus, given the townhouse's PITI of $1,300, Hector and Maria will not be approved for a mortgage.
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An investment firm provides its customers mobile applications that significantly simplify traditional investing activities. For example, a customer can purchase a stock by utilizing their phone or tablet. This unique service demonstrates the firm’s desire to practice which of Porter’s strategies?
The Differentiation strategy is used by the investment firm in standing out in the industry.
What is Michael Porter strategy?A strategy is defined by Porter as a competitive position that is deliberately chosen as a different set of activities to deliver a unique mix of value.
The Generic Strategies model of Michael Porter includes:
Cost LeadershipDifferentiationFocus.These strategy are important because they provide an options for organizations to gain competitive advantage.
In conclusion, the Differentiation strategy is used by the investment firm in standing out in the industry.
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Why is it necessary to clean vent hood filters on a regular basis?
A.It makes the air cooler
B.It prevents the buildup of grease that could drip into food
C.It prevents a pest infestation
D.It helps the food cook more evenly
Answer:
i think the answer is D
Explanation:
to me it makes the most sense
Cleaning the vent hood filters prevents the grease buildup that could drip into the food.
What is the significance of cleaning filters?The cleaning of filters not only maintains long life of the filters, but also prevents the drawbacks it may bring if not cleaned. The vapor forms grease into the filters over a period.
It is important to clean these filters of the vent hood, so that the filters work effectively without grease buildup that may result in getting dripped into the food while in preparation.
Hence, option B holds true regarding cleaning the filters.
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if we consider Airbnb to be new entrant into the hospitality short stay vacation industry. according to Porter's Five forces, how attractive is this industry? What might be particularly difficult for a new startup
The entrance of Airbnb into the hospitality short stay vacation will be attractive but there are some market threats that need to be effectively managed.
What is the Porter's Five forces?These forces are economic force that determines the competitive intensity and attractiveness of a market.
According to Porter, the Five forces in the every market includes::
threat of new market players,threat of substitute products,power of customers, power of suppliers, industry rivalryIn conclusion, the hospitality firm needs to evalute the forces to understand the industry structure and to determine the best corporate strategy for its operation.
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please help me, I'll give brainliest
Answer:
600
Explanation:
Which of these would Congress look to do during a recession, as it pertains to fiscal policy?
a. Raise taxes
b. Raise government spending
c. Decrease the discount rate
d. Print more money
Answer:
Raise taxes
Explanation:
This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation
It Isn't necessary to consider convenlence Issues when selecting a bank.
O True
O False
Which of the following does NOT influence the effectiveness of a chemical sanitizer solution?
Concentration
Temperature
Cost
Contact time
The cost of a solution does not influence the effectiveness of a chemical sanitizer solution.
What is the chemical sanitizer solution?The effectiveness of the sanitizer means the ability of the solution to clean the surface applied to effectively.
Some factors that influence the effectiveness of a chemical sanitizer solution includes:
concentrationtemperaturecontact timewater hardnesspH etc.Therefore, the Option C is correct.
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Discuss the external factors that may affect law
Answer:
political - For example, new legislation.
economic - For example, inflation and unemployment.
social - Changes in taste and fashion or the increase in spending power of one group, for example, older people.
technological - For example, being able to sell goods online or using automation in factories.
Explanation:
Part of the job for an architectural designer is obtaining which of the following from different contractors for a construction project?
A: A business license
B: A bid
C: Permission
Answer:
B. A bid
Explanation:
how can both stocks and bonds generate a positive return for investors
A. paying dividends
B. Paying Interest
C. Tax Deduction
D. Price Appreciation
A stock and bond can generate a positive return for investors by tax deduction.
What is a stock and a bond?
A bond is a debt instrument used by businesses to raise capital needed for business operations. Bondholders earn interest on the amount invested and at the maturity of the bond, they are paid back the amount invested.
A stock gives the holders ownership right in the company. Shareholders are paid dividends and when the value of the company appreciates, the wealth of shareholders increases.
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Question 5 of 20
If you invest your money today, your future purchasing power will most likely
A. go up and down
B. stay the same
C. increase
O D. decrease
SUBMIT
When you invest your money, it is likely that in future your purchasing power will A. go up and down.
What will happen to your purchasing power?If you invest your money today, there is a chance that you will get back more money than you deposited, or less than you deposited.
This means that you will either have more money or less money to purchase goods and services. In other words, your purchasing power will go up and down.
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A new accountant mistakenly classified some capital expenditures as revenue expenditures. What is the outcome of this error
Answer:
the company will understate assets and understate net income
Explanation:
TRUE OR FALSE - ACCOUNTING (100 POINTS)
IF FALSE EXPLAIN WHY
1. The Dividends account is an expense.
2. A credit to the cash account will increase the account.
3. Liabilities are debts owed by the business entity.
4. Revenue is the Income Statement account credited when selling services or products to customers.
5. When an account receivable is collected in cash, the total assets of the business increase.
6. When a business receives a bill from the utility company, no entry should be made until the invoice is paid.
7. The revenue recognition principle states that revenue should be recorded when the cash is received from the customer.
8. An example of deferred revenue is Unearned Car Insurance Premium Revenue on an insurance company’s balance sheet.
9. A company’s accounts receivable represents an amount that the company will collect in the future from customers.
10. An adjusting entry would adjust revenue so it is reported when earned and not when the cash was received.
Answer:
1. False
2. False
3. True
4. True
5. False
6. False
7. False
8. True
9. True
10. True
Explanation:
Devon is accused of robbing a jewelry store and is summarily thrown in jail. Which law or principle of law will help Devon in this situation?
Answer:
Procedural Due Process
Explanation:
What are the ethical considerations in this case
Which of the maturity lengths between the bonds, bills, and notes would be most advantageous during a bear market?
Answer:
perhaps bonds, but I'm not 100%sure
PLEASE HELP WITH THIS ASSIGNMENT
The United States is a mixed market economy based on the ideals of capitalism and a representative republic. However, some argue that the US government is too big and overreaching. Conversely, others argue the government is needed to protect consumers from deceptive business practices, and more regulation and government oversight is the answer. What are your thoughts? Is the US government too big or not big enough?
Answer:
Government is to big
Explanation:
The US government is overly expansive. Many regulations on private companies need to be removed because they only hurt small businesses and let big corporations monopolize certain markets.
What is the mixed market economy model in the USA?Due to the significant roles that both privately held companies and the government play, the United States is classified as a mixed economy. In fact, the relative contributions of the public and private sectors have been the subject of some of the longest-running discussions in American economic history.
Private ownership is emphasized by the American free-market system. The majority of goods and services are produced by private firms, and about two-thirds of the nation's total economic output is used by individuals for personal purposes. In fact, the importance of consumers is so enormous that the country is occasionally referred to as being a "consumer economy."
This emphasis on private hands stems in part from American views about individual liberty. Furthermore, most Americans believe that an economy dominated by private ownership will be more efficient than one dominated by government ownership.
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Agricultural managers need, at the bare minimum, what kind of degree in order to obtain their first job in that role?
A: Associates degree
B: Bachelors degree
C: Doctorate degree
D: Masters degree
what is a informal business structure
HELP PLEASEEE 15 POINTS FOR THISSS
1. A career ______ lets you present documents that highlight your skills, interests and
abilities.
A. journal
B. examples
C. portfolio
2. Awards and certificates, report cards and transcripts and samples of work are all ___________ in a portfolio
A.fossils
B.artifacts
C.workbooks
3. An actual folder that holds printed documents is known as a hard copy portfolio
A. yes
B. no
4. An e-portfolio is something where you can store digital files
A. no
B. yes
5. There are ______ main types of portfolios
A. 4
B. 2
C. 3
Answer:
1. C
2. C
3. B
4. B
5. B
Explanation:
1. Portfolio relates to a career while "examples" and journal do not.
2. Workbooks because fossils and artifacts relate to something that is not a part of a portfolio.
3.There is no such thing as a hard copy portfolio.
4. An electronic portfolio, or an e-portfolio, stores online digital files.
5. There are only 2 main types of portfolios.
Showcase
Development
Which of the following are considered "free money" when it comes to
financing higher education?
Loans
Work-study programs
Military programs
Scholarships and grants
The option that can be considered free money when it comes to financing higher education is: Scholarships and grants.
What are grants?Grant is a monetary fund given by a public entity or a charitable foundation or a specialized grant making institution to an individual for a specific purpose.
Grants and scholarship does not need to be paid back by individuals. Therefore it can be considered free money when it comes to financing higher education.
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The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigation of all variances begins with the preparation of performance reports is used to assign blame for poor performance
The variance analysis cycle C. begins with the preparation of performance reports.
What is a performance report?A performance report is at the heart of the variance analysis cycle.
The performance report details the following:
Calculates the difference between actual and budgeted expenditure and revenue.Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.Investigates the reasons for the differences.Puts the information together and reports to management.Thus, the variance analysis cycle C. begins with the preparation of performance reports.
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