The type of costing being used when the cost of a job is determined by budgeted direct materials and labor cost plus overhead applied using a predetermined overhead rate and a budgeted allocation base is known as "Standard Costing."
Under this method, a predetermined overhead rate is established by dividing the budgeted overhead cost by the budgeted allocation base. This overhead rate is then applied to each job based on the actual amount of the allocation base used. The budgeted direct materials and labor costs are also added to this amount to determine the total cost of the job. Standard costing is a widely used technique in manufacturing and production environments as it helps to provide a benchmark against which actual costs can be compared. It provides management with a way to measure the efficiency of production processes and identify areas where improvements can be made. Standard costing also helps to simplify the process of determining the cost of a job by providing a consistent approach to calculating overhead costs, which can often be complex and difficult to measure accurately.
Learn more about Standard costing here:
https://brainly.com/question/28024760
#SPJ11
Assume the US economy is currently in equilibrium. What would happen to equilibrium in the American economy if the government partially subsidized the production of American cars? a. Real GDP and price-level both decrease b. Real GDP falls, price-level rises c. Real GDP rises, price-level falls d. Real GDP and price-level both increase
When the US government partially subsidizes the production of American cars, it leads to a change in the equilibrium of the American economy. The correct answer is d. Real GDP and price level both increase
Here's a step-by-step explanation:
1. When the government provides a partial subsidy to car producers, the cost of producing cars decreases.
2. This lower cost of production incentivizes car manufacturers to produce more cars.
3. The increased production of cars contributes to an increase in the overall Real GDP, as the total value of goods and services produced in the economy rises.
4. As the supply of cars increases, it creates upward pressure on the price level because of the increased economic activity and overall demand for goods and services.
5. Consequently, both Real GDP and price-level increase, leading to a new equilibrium in the American economy.
The correct answer is d. Real GDP and price level both increase.
To learn more about “government” refer to the https://brainly.com/question/1078669
#SPJ11
power is . question 14 options: group centered resides in the individual all or nothing avoidable in most human transactions
Power is a concept that can be understood in different ways, and in the context of your question,
we can explore two primary options: group-centered power and power that resides in the individual.
Group-centered power is the idea that power is distributed among the members of a group or community, which can lead to a collective decision-making process.
This type of power relies on the collaboration, consensus, and negotiation among group members to determine the best course of action for the group as a whole.
On the other hand, power that resides in the individual suggests that power is held by a single person or entity, such as a leader or an organization.
In this case, the individual has the authority to make decisions and dictate the direction of the group, often with limited input from others.
It is important to note that power dynamics are not always "all or nothing," meaning that power can be distributed in various ways within a group or community.
Moreover, power dynamics are often unavoidable in most human transactions, as individuals and groups constantly negotiate and navigate their relationships and roles within a larger social structure.
In summary, power can be group-centered, where power is shared and distributed among members of a group, or it can reside in the individual,
where one person holds authority over others. Power dynamics are not always "all or nothing" and are usually unavoidable in human transactions.
Understanding these concepts can help us navigate and make sense of the complexities of power in various contexts.
To know more about Power is a concept refer here
https://brainly.com/question/30286015#
#SPJ11
use the above graph to answer the questions question 29 options: what type of market structure does the graph represent? question 30 (1 point) question 30 options: what is the equilibrium quantity for this market? question 31 (1 point) question 31 options: what is the equilibrium price for this market?
Market structures determine the organization of markets, while equilibrium quantity and price reflect the balance between consumer demand and producer supply.
Market structuresI can give you a general explanation of market structures and how equilibrium price and quantity are determined.
Market Structure: Market structure refers to the characteristics and organization of a market, including the number of firms, entry barriers, product differentiation, and control over price.
Equilibrium Quantity: The equilibrium quantity is the quantity of a good or service that will be bought and sold in a market at equilibrium. It is the point where the quantity demanded by consumers equals the quantity supplied by producers.
Equilibrium Price: The equilibrium price is the price at which the quantity demanded equals the quantity supplied. It is the market-clearing price, where the intentions of buyers and sellers align. It is determined by the interaction of demand and supply in the market.
Learn more about Market structures: brainly.com/question/27874368
#SPJ11
if lazer co. desires to lock in the maximum it would have to pay for its net payables in euros but wants to be able to capitalize if the euro depreciates substantially against the dollar by the time payment is to be made, the most appropriate hedge would bealso assume that a u.s. exporter denominates its new zealand exports in nz$ and expects to receive nz$600,000 in 1 year. you are a consultant for this firm.using the information above, what will be the approximate value of these exports in 1 year in u.s. dollars given that the firm executes a money market hedge?
The value of the exports would be $420,000 in 1 year.
How to determine the approximate value of the exports in 1 year in U.S. dollarsIf Lazer Co. wants to lock in the maximum it would have to pay for its net payables in euros but still wants to be able to capitalize if the euro depreciates substantially against the dollar by the time payment is to be made, the most appropriate hedge would be an option contract.
Specifically, Lazer Co. could purchase a call option on euros, which would give it the right but not the obligation to buy euros at a predetermined exchange rate (the strike price) on or before a predetermined date (the expiration date).
This would allow Lazer Co. to limit its potential losses if the euro appreciates, while still allowing it to benefit if the euro depreciates.
Assuming the current exchange rate is 1 NZD = 0.70 USD, the approximate value of the NZ$600,000 exports in 1 year in US dollars would be $420,000.
If the firm executes a money market hedge, it would involve borrowing USD and then converting it to NZD to invest in the New Zealand money market.
This would eliminate the foreign exchange risk and lock in the current exchange rate, ensuring that the value of the exports would be $420,000 in 1 year.
Learn more about export at
https://brainly.com/question/28590941
#SPJ11
Size, color, position, and novelty are all strategies for creating which of the following?Required to answer. Single choice.
A. adaptation
B.thresholds
C.positioning
D.contrast
The strategies of size, color, position, and novelty are all related to the concept of contrast. The correct option is d).
Contrast refers to the noticeable differences between elements in a design, and these strategies are often used to create such differences. For example, a larger or brighter element may contrast with smaller or duller elements, while a novelty element may contrast with more common or expected elements. The positioning of elements can also create contrast, such as placing a bold element in a central position while more subtle elements are placed around it.
By creating contrast, designers can draw attention to certain elements, make them stand out, and guide the viewer's eye through the design. Contrast is an important tool for creating visual interest, emphasizing important information, and making designs more effective overall.
Therefore, the correct answer to the question is D. contrast. The strategies of size, color, position, and novelty all play a role in creating contrast and making designs more impactful.
Know more about contrast here:
https://brainly.com/question/22484079
#SPJ11
The allocation bases to determine charging rates at the beginning of a year on the basis of budgeted usage permits:
The allocation bases used to determine charging rates at the beginning of a year on the basis of budgeted usage permits may vary depending on the specific organization and the resources or services being provided.
Common allocation bases include direct labor hours, machine hours, square footage, or number of units produced.
These allocation bases help to distribute costs fairly and accurately among different departments or products, based on the level of resources consumed.
By using budgeted usage permits, organizations can plan for their expenses and allocate costs accordingly, ensuring that they have sufficient resources to meet their operational needs while also maintaining financial stability.
To know more about charging rates here
https://brainly.com/question/31064623
#SPJ11
which of the following is a form of informal reward that a manager may give when exercising leadership?
a raise b praise c promotion d bonus
The form of informal reward that a manager may give when exercising leadership is praise. So, the correct option is b) praise.
Praise is an informal reward because it is not directly tied to financial benefits or career advancement. It involves recognizing and appreciating an employee's efforts, achievements, or positive qualities. Praise can be given through verbal communication or written notes, such as emails or thank-you cards.
When a manager provides praise, it can help boost an employee's morale, motivation, and job satisfaction. This informal reward helps create a positive work environment and strengthens the employee-manager relationship.
In contrast, raises, promotions, and bonuses are formal rewards that involve tangible benefits, such as increased pay, higher positions, or financial incentives. These rewards are usually based on pre-defined criteria and have a more structured process for being awarded.
To know more about leadership refer here:
https://brainly.com/question/31138185#
#SPJ11
If there are 60 developers for a Scrum project, how should they be divided into teams?
When dividing a large group of developers, such as 60, into teams for a Scrum project, it's important to consider the size and complexity of the project as well as the skills and expertise of each individual developer.
One approach could be to divide the developers into multiple teams of 6-9 members each, with each team having a mix of skills and experience levels. Another approach could be to have a core team of experienced developers who work closely with the product owner, and then divide the remaining developers into smaller teams based on specific areas of expertise or tasks. Ultimately, the goal should be to create teams that are well-balanced and able to work efficiently and effectively together to achieve the project's goals.
Learn more about developers here:
https://brainly.com/question/17018004
#SPJ11
67. The process of making long range management development plans to fill human resources needs is known as:
A. Development planning.
B. Career planning.
C. Succession planning.
D. Onboarding.
E. Organizational succession.
The correct answer to this question is C. Succession planning.
Succession planning is the process of identifying and developing internal employees with the potential to fill key leadership positions within an organization. It involves assessing current and future human resource needs and creating a long-term strategy to ensure that these needs are met. This may involve training, mentoring, and coaching employees to prepare them for future leadership roles. Succession planning is an important aspect of organizational development as it helps ensure continuity and stability in the event of leadership changes or other disruptions. It is also a valuable tool for retaining top talent and promoting career development within an organization.
To learn more about planning, visit:
https://brainly.com/question/14426674
#SPJ11
Orange, Inc., a C Corporation for federal tax purposes, owns 82% of Citrus Corporation common stock, a C Corporation for federal tax purposes. This year, Orange generated $750,000 operating income (not including dividends). It also received $150,000 dividends from Citrus Corporation. Orange's taxable income is: O $750,000 $780,000 $870,000 $795,000
Orange's taxable income for federal tax purposes is $645,000.
The taxable income for Orange, Inc. can be calculated as follows:
Operating income of Orange, Inc. = $750,000
Dividend received from Citrus Corporation = $150,000
As Orange, Inc. owns 82% of Citrus Corporation common stock, it is eligible for a dividends received deduction (DRD) equal to 70% of the dividend received. Therefore, the DRD for Orange, Inc. would be:
DRD = 70% x $150,000 = $105,000
The taxable income for Orange, Inc. can be calculated as:
Taxable income = Operating income - DRD
Taxable income = $750,000 - $105,000
Taxable income = $645,000
Therefore, the taxable income for Orange, Inc. is . This calculation takes into account the operating income generated by Orange, Inc. and the dividend received from Citrus Corporation, as well as the DRD that Orange, Inc. is eligible for due to its ownership of Citrus Corporation common stock.
To learn more about the Federal Tax Purposes : https://brainly.com/question/31694187
#SPJ11
Marketing information systems and marketing research have changed rapidly because customers and companies around the world have been linked by
a) the computer.
b) the super database.
c) the Interactive network.
d) electronic online services.
e) evolving telecommunications.
Marketing information systems and marketing research have undergone significant changes due to technological advancements. Companies that embrace these advancements are better equipped to meet the needs of their customers and remain competitive in the ever-changing business landscape.
Marketing information systems and marketing research have undergone significant transformations in recent years due to the advent of technology that has linked customers and companies globally. The most prominent technological advancements that have impacted marketing information systems and marketing research include the computer, the super database, the interactive network, electronic online services, and evolving telecommunications.
The computer has revolutionized marketing information systems and marketing research by allowing marketers to collect and analyze vast amounts of data in real-time. With the use of the super database, companies can collect data on customer preferences, behavior, and purchasing patterns, allowing them to tailor their marketing strategies to meet the needs of individual customers.
The interactive network has enabled companies to engage with customers in real-time, using various channels such as social media platforms, mobile applications, and websites. This has allowed companies to build strong customer relationships and create brand loyalty.
Electronic online services have enabled companies to collect customer data and feedback more efficiently and cost-effectively. This has led to the development of more targeted and personalized marketing campaigns that are based on customer preferences and behavior.
Lastly, evolving telecommunications have facilitated the globalization of marketing information systems and marketing research. Companies can now reach customers globally and conduct market research in different countries, providing them with valuable insights into international markets.
Learn More about technological advancements here :-
https://brainly.com/question/13612564
#SPJ11
which of the following is true of assigning responsibility for purchasing? group of answer choices generally, one person should be given the overall purchasing responsibility. generally, the authority to order should be with a team of experts. the person assigned the responsibility for purchasing should not ask for help. responsibility for purchasing should not be assigned to the business owner.
A: "Generally, one person should be given the overall purchasing responsibility" is true about assigning responsibility for purchasing.
This person will be responsible for coordinating and managing the procurement process, including researching potential vendors, obtaining quotes, negotiating prices and terms, placing orders, tracking shipments, and handling any issues that may arise with the order. While the purchasing manager may work closely with a team of experts to make informed decisions, they are ultimately accountable for the purchasing decisions made by the company.
It is not advisable for the person assigned the responsibility for purchasing to not ask for help, as seeking advice and input from others can help them make better purchasing decisions. Finally, while the business owner may have some involvement in the purchasing process, it is generally better to assign the responsibility for purchasing to a dedicated purchasing manager to ensure that the process is handled efficiently and effectively.
Option A is answer.
You can learn more about purchasing at
https://brainly.com/question/29590653
#SPJ11
The following facts relate to Cheese Corp., a one-shareholder S corporation. What is the shareholder's ending stock basis? Beginning stock basis $60,000, Ordinary income 50,000, Fine for late payment of sales tax 3,000, Stock purchases 10,000, Tax-exempt interest income
The shareholder's ending stock basis in Cheese Corp. can be calculated as follows: Beginning stock basis of $60,000 plus ordinary income of $50,000 results in a new basis of $110,000.
1. Begin with the beginning stock basis: $60,000
2. Add ordinary income: $60,000 + $50,000 = $110,000
3. The fine for late payment of sales tax ($3,000) is not deductible, so it does not affect the stock basis.
4. Add the stock purchases: $110,000 + $10,000 = $120,000
5. Tax-exempt interest income does not affect the stock basis either.
The fine for late payment of sales tax and tax-exempt interest income do not affect the stock basis. However, the stock purchases of $10,000 increase the basis to $120,000. Therefore, the shareholder's ending stock basis is $120,000. It's important to note that S corporation shareholders must maintain accurate records of their stock basis as it affects the amount of tax they owe on distributions and sales of stock.
To learn more about shareholder, visit:
https://brainly.com/question/30726450
#SPJ11
The local hairdresser industry has the market structure of monopolistic competition. Your hairdresser boasts that he is making a profit and that if he continues to do so, he will be able to retire in five years, bse a diagram to illustrate your hairdressers current situation. Do you expect this to last? In a separate diagram, draw what you expect to happen in the long run. explain your reasoning.
In the local hairdresser industry with a monopolistic competition market structure, your hairdresser is one of many firms that offer similar, but not identical services.
Since he is making a profit, we can assume that his current price is greater than his average total cost.
In the short run, his situation may look like this: he has a downward-sloping demand curve, and a marginal revenue curve below the demand curve. His profit-maximizing output occurs where marginal cost equals marginal revenue.
At this output, the price he charges is above the average total cost, indicating a profit.
However, in the long run, monopolistic competition typically leads to zero economic profit. This is because other firms will be attracted by the profit potential and enter the market.
As a result, the demand curve for your hairdresser's services will shift to the left, reducing the price he can charge. Eventually, the demand curve will shift enough so that it is tangent to the average total cost curve, meaning he earns zero economic profit.
In conclusion, while your hairdresser is currently making a profit, it is unlikely to last in the long run due to the nature of monopolistic competition.
As new firms enter the market, the increased competition will erode his profit margins and he may need to adjust his retirement plans accordingly.
To learn more about monopolistic, refer below:
https://brainly.com/question/29763908
#SPJ11
A consumer who uses a few simple decision rules to arrive at a purchase decision is using which of the following?
A) routine decision making
B) limited problem solving
C) graduated response behavior
D) extended problem solving
A consumer who uses a few simple decision rules to arrive at a purchase decision is using routine decision making. The correct option is a) routine decision making.
This type of decision-making process involves low involvement and low risk purchases, where the consumer is familiar with the product or service and has made similar purchases before. The decision-making process is quick and effortless, as the consumer does not need to gather much information or evaluate alternatives. Instead, they rely on their past experiences and habits to make the decision.
Examples of routine decision making can include buying groceries, household items, or personal care products. These purchases do not require a lot of thought or consideration, and the consumer may even choose the same brand or product every time. Companies that offer these types of products often focus on building brand loyalty and creating repeat customers. Overall, routine decision making is an important aspect of consumer behavior, and understanding this process can help companies better target their marketing efforts and improve customer retention. The correct option is a) routine decision making.
For more about decision making:
https://brainly.com/question/31422716
#SPJ11
uestion 8 (1 point) Saved If fair value is used to account for an equity investment in common shares under IFRS, it is presumed that the investor has insignificant influence on the investee. the earning of a profit by the investee is considered a proper basis for recognition of income by the investor. profit of the investee is not considered earned by the investor until dividends are declared by the investee. the investment account will remain at cost.
If fair value is used to account for an equity investment in common shares under IFRS, it is presumed that the investor has insignificant influence on the investee.
This means that the investor does not have significant control over the investee's operations and decisions. In this case, the earning of a profit by the investee is considered a proper basis for recognition of income by the investor. This means that the investor can recognize its share of the investee's profit as income on its own financial statements.
However, it is important to note that the profit of the investee is not considered earned by the investor until dividends are declared by the investee. This means that the investor cannot recognize its share of the investee's profit as income until the investee distributes dividends to its shareholders. Until then, the investor's investment account will remain at cost, reflecting the initial amount paid for the investment.
To learn more about "equity investment", visit: https://brainly.com/question/11856941
#SPJ11
In the case opener Michael Jordan argued the agreement was not enforceable based on which of the following?Group of answer choicesa. Illegal subject matterb. Mutual mistakec. Unilateral mistaked. Undue influencee. None of the answers is correct
Michael Jordan argued that the agreement was not enforceable based on the principle of: Unilateral mistake. The correct option is C.
A unilateral mistake occurs when only one party to a contract is mistaken about a material fact relating to the agreement, and the other party is aware or should have been aware of the mistake.
In this situation, the party making the mistake may argue that the contract should not be enforced, as it was based on a misunderstanding of a critical aspect of the agreement. It's important to note that the success of this argument depends on the specific circumstances of the case and the legal principles applied in the relevant jurisdiction.
To know more about Unilateral mistake, refer here:
https://brainly.com/question/4272013#
#SPJ11
Complete question:
In the case opener Michael Jordan argued the agreement was not enforceable based on which of the following?
a. Illegal subject matter
b. Mutual mistake
c. Unilateral mistake
d. Undue influence
e. None of the answers is correct
A specific model of computer servers are being sold by Company A for $26,600 each, offering trade discounts of 8% and 5% and by Company B for $35,700 each, offering trade discount rates of 12% and 3%. a. Which company offers the servers for a cheaper price? b. What further trade discount rate must the company with the higher price provide to match the lower price?
Company A offers the servers for a cheaper price at $23,138 each , Company B must offer an additional trade discount rate of 35% to match the net price of $23,138 offered by Company A
a. To compare the prices offered by the two companies, we need to calculate the net price of one server offered by each company after taking into account the trade discounts.
For Company A:
Trade discount = 8% + 5% = 13%
Net price = $26,600 - (13% x $26,600) = $23,138
For Company B:
Trade discount = 12% + 3% = 15%
Net price = $35,700 - (15% x $35,700) = $30,345
Therefore, Company A offers the servers for a cheaper price at $23,138 each.
b. To determine the further trade discount rate that Company B must offer to match the lower price, we can use the following formula:
Net price = List price - (Trade discount rate x List price)
Substituting the values for Company B, we get:
$23,138 = $35,700 - (Trade discount rate x $35,700)
Solving for the trade discount rate, we get:
Trade discount rate = ( $35,700 - $23,138 ) / $35,700
Trade discount rate = 0.35 or 35%
Therefore, Company B must offer an additional trade discount rate of 35% to match the net price of $23,138 offered by Company A.
Learn more about cheaper price
https://brainly.com/question/27862837
#SPJ4
The theory of international production proposes that for a fem to invest in facilities overseas, it must have three kinds of advantages ownership specific, location specific, and internalization Fill
The theory of international production suggests that for a firm to invest in facilities overseas, it must have three kinds of advantages: ownership-specific, location-specific, and internalization.
Ownership-specific advantages refer to the unique resources or capabilities a firm possesses, such as proprietary technology, brand reputation, or management expertise, which give it a competitive edge over others in the global market.
Location-specific advantages are the benefits a firm can gain by operating in a particular foreign country or region. These advantages may include lower production costs, access to skilled labor, favorable government policies, or proximity to target markets.
Internalization advantages occur when a firm can better manage and coordinate its international production activities internally, rather than relying on external partners or market arrangements. This can help the firm reduce transaction costs, maintain control over its intellectual property, and ensure quality standards are met.
In summary, the theory of international production posits that a firm should invest in facilities overseas when it has ownership-specific, location-specific, and internalization advantages that outweigh the costs and risks associated with operating abroad.
Read more about " Theory of international production": https://brainly.com/question/30655410
#SPJ11
unit information with bwip, fifo method jackson products produces a barbeque sauce using three departments: cooking, mixing, and bottling. in the cooking department, all materials are added at the beginning of the process. output is measured in ounces. the production data for july are as follows: production: units in process, july 1, 60% complete* 10,800 units completed and transferred out 86,000 units in process, july 31, 90% complete* 15,800 * with respect to conversion costs. required: question content area 1. prepare a physical flow schedule for july.
A physical flow schedule for July using the given production data and the FIFO method for the cooking department of Jackson Products: Total units- 112,600 units
To prepare a physical flow schedule for July for Jackson Products, which produces barbeque sauce using three departments (cooking, mixing, and bottling) and measures output in ounces, follow these steps:
1. Identify the beginning work in process (WIP) units: The WIP units on July 1 are 10,800, which are 60% complete with respect to conversion costs.
2. Determine the units completed and transferred out: During July, 86,000 units were completed and transferred out of the cooking department.
3. Calculate the ending WIP units: On July 31, there are 15,800 units still in process, which are 90% complete with respect to conversion costs.
4. Sum the total units to account for: Add the beginning WIP units, units completed and transferred out, and ending WIP units. The total is 10,800 + 86,000 + 15,800 = 112,600 units.
5. Create the physical flow schedule:
- Units to be accounted for:
- Beginning WIP (60% complete): 10,800 units
- Units started during July: (112,600 - 10,800) = 101,800 units
- Total units: 112,600 units
- Units accounted for as follows:
- Completed and transferred out: 86,000 units
- Ending WIP (90% complete): 15,800 units
- Total units: 112,600 units
To know more about FIFO method, refer here:
https://brainly.com/question/17439349#
#SPJ11
Complete question:
unit information with bwip, fifo method jackson products produces a barbeque sauce using three departments: cooking, mixing, and bottling. in the cooking department, all materials are added at the beginning of the process. output is measured in ounces. the production data for july are as follows: production:
units in process, july 1, 60% complete* 10,800 units completed and transferred out 86,000 units in process, july 31, 90% complete* 15,800 * with respect to conversion costs. required: question content area
prepare a physical flow schedule for july.
when supply falls, what happens to quantity demanded in equilibrium? (this should get you to notice that both suppliers and demanders change their behavior when one curve shifts.) quantity demanded does not change. may change in either direction. falls. rises.
When supply falls, there is a shift in the supply curve to the left. This means that at the current price, suppliers are willing to supply less of the good or service.
In turn, this creates a shortage, as the quantity demanded by consumers exceeds the quantity supplied by producers. In order to reach a new equilibrium, the price must increase. As the price increases, quantity demanded falls and quantity supplied rises, until a new equilibrium point is reached where the quantity demanded and quantity supplied are equal.
Therefore, the quantity demanded in equilibrium may change in either direction, depending on the magnitude of the shift in the supply curve and the elasticity of demand.
To learn more about Supply curve, click here:
https://brainly.com/question/9228571
#SPJ11
The following facts are for a non-cancellable lease agreement between Oriole Corporation and Russell Corporation, a lessee:Inception date July 1, 2020Annual lease payment due at the beginning of each year, starting July 1, 2020 $20,954.73Bargain purchase option price at end of lease term reasonably certain to be exercised by Russell $3,900.00Lease term 5 yearsEconomic life of leased equipment 10 yearsLessor’s cost $43,800.00Fair value of asset at July 1, 2020 $89,800.00Lessor’s implicit rate 10%Lessee’s incremental borrowing rate 10%The collectibility of the lease payments is reasonably predictable, and there are no important uncertainties about costs that have not yet been incurred by the lessor. The lessee assumes responsibility for all executory costs. Both Russell and Oriole use IFRS 16.Required:Prepare a lease amortization schedule for the lease obligation using a computer spreadsheet for Russell Corporation for the five-year lease term. (Present value of an annuity of 1 for 5 years, 9% discounted rate is 4.23972 and single sum of present value is 0.64993).Prepare the journal entries on the lessee’s books to reflect the signing of the lease agreement and to record the payments and expenses related to this lease for the years 2020 and 2021. Russell’s annual accounting period ends on December 31, and Russell does not use reversing entries.
A journal entry is a financial record of a business transaction that is recorded in an accounting system. Lease amortization is the process of taking the intangible asset within a lease agreement and reducing its value based on the historical cost, economic lifetime value, as well as residual value.
To prepare the lease amortization schedule, we can use the following steps:
Determine the lease liability, which is the present value of the lease payments discounted at the lessee's incremental borrowing rate (10%) over the lease term (5 years). The lease liability is $95,275.41.Determine the right-of-use asset, which is equal to the lease liability plus any initial direct costs (in this case, there are none). The right-of-use asset is also $95,275.41.Prepare the lease amortization schedule by calculating the interest expense and the lease payment for each year. The interest expense is calculated by multiplying the lease liability at the beginning of the year by the lessee's incremental borrowing rate (10%). The lease payment is $20,954.73 for each year. The lease liability is reduced by the lease payment minus the interest expense each year.The journal entries to record the lease for 2020 and 2021 are as follows:
2020:
Right-of-use asset $95,275.41
Lease liability $95,275.41
To record the lease agreement
Lease liability $17,080.32
Cash $20,954.73
Interest expense $3,874.41
To record the first lease payment and interest expense
2021:
Lease liability $16,579.60
Interest expense $3,817.72
Cash $20,954.73
To record the lease payment and interest expense for year 2
In summary, the lease amortization schedule shows that the lease liability will be paid off by the end of the lease term, and the journal entries reflect the recognition of the right-of-use asset and the lease liability on the lessee's balance sheet, as well as the recognition of interest expense and lease payments on the income statement.
To learn more about “payments” refer to the https://brainly.com/question/15904086
#SPJ11
Entrepreneurs have to provide themselves and their employees any __ they receive such as sick days or insurance.
Entrepreneurs have the responsibility to provide themselves and their employees with any benefits they receive, such as sick days or insurance.
It is essential to understand that benefits are crucial for employee retention and overall productivity in a company. However, the extent of benefits that entrepreneurs provide may vary depending on the size and nature of their business. While large corporations may offer extensive benefits packages to their employees, small business owners may only provide basic benefits due to financial constraints. Nevertheless, it is important to note that entrepreneurs who invest in their employees' well-being and provide benefits can create a positive work environment, boost employee morale, and increase job satisfaction. Ultimately, providing benefits can contribute to the success and longevity of a business.
To learn more about entrepreneurs, visit:
https://brainly.com/question/11177105
#SPJ11
when using the aida strategy to present a persuasive message, you should motivate action in the body of your message. true or false
The answer for the statement ''when using the aida strategy to present a persuasive message, you should motivate action in the body of your message'' is True.
When using the AIDA (Attention, Interest, Desire, Action) strategy to present a persuasive message, it is important to motivate action in the body of your message. This means that after capturing the audience's attention and generating interest, you need to create a desire for your product or service and then provide a clear and compelling call to action.
This could be an invitation to visit a website, make a purchase, or sign up for a service. By motivating action, you are encouraging the audience to take the next step towards making a decision and achieving the desired outcome. Without this call to action, your message may not be effective in achieving the desired results.
To know more about aida strategy ,refer to the link:
https://brainly.com/question/30017929#
#SPJ11
The incomes in a certain large population of retail managers have a normal distribution with mean $75,000 and standard deviation $10,000.
If four managers are selected at random from this population:
What are the mean and standard deviation of this sampling distribution?
( ____ and ____ )
The mean of the sampling distribution of the mean incomes of the four selected managers is still $75,000, as it is the same as the population mean. The standard deviation is $5,000.
The standard deviation of the sampling distribution is the standard deviation of the population divided by the square root of the sample size. Therefore, the standard deviation of the sampling distribution is $10,000 / sqrt(4) = $5,000.
Mean of sampling distribution: $75,000
Standard deviation of sampling distribution: $5,000
The mean and standard deviation of the sampling distribution for the incomes of four randomly selected retail managers from this population are:
Mean = μ (population mean) = $75,000
Standard deviation = σ / sqrt(n) = $10,000 / sqrt(4) = $10,000 / 2 = $5,000
Your answer: ($75,000 and $5,000)
Learn more about standard deviation here:-
https://brainly.com/question/23907081
#SPJ11
in california, which of the following is considered the same as cash when provided in business transactions?
In California, cash equivalents are considered the same as cash when provided in business transactions. Cash equivalents are highly liquid assets that can be easily converted into cash, such as money market funds, treasury bills, and commercial paper.
These assets are considered to be just as good as cash because they can be quickly and easily converted into cash without significant loss of value.
Therefore, businesses can accept cash equivalents as a form of payment without worrying about the potential risks associated with accepting other forms of payment that may not be as easily converted into cash.
To know more about cash equivalents ,refer to the link:
https://brainly.com/question/28392657#
#SPJ11
In California, which of the following is considered the same as cash when provided in business transactions?
A check.
A promissory note.
cash equivalents
All of the above
1. Miss Perfect Inc. is a beauty products company based in Madison, Wisconsin. They sell a wide range of beauty products. One of their best selling products is their eyeliner. Miss Perfect Inc. purchases older primates (monkeys, gorillas and orangutans) from zoos across the United States. They use these primates to test their products. They admit that they test their products on primates. They state that they perform these tests to "prevent eye pain and/or eye injury to their customers." and that their "testing is done in the most humane way possible." Is Miss Perfect Inc. an ethical company in your opinion? If the zoos know why Miss Perfect Inc. are purchasing their older animals are the zoos ethical? Are the people who buy Miss Perfect products ethical? (These are opinion questions but base your answers on our discussion of ethical theories we learned in Chapter One.)
They offer a huge selection of cosmetics. Their eyeliner is one of their best-selling items. Older primates are purchased by Miss Perfect Inc. Ethics theory on how to handle animals in experiments and their moral importance rather than directly testing humans.
Animals are used by humans for food, transportation, and companionship and have been for a very long time. the opinions a person has about their own qualities and how they rank those traits. The present trend of wearing high heels, which can lead to knee and hip issues, is comparable to the ancient Asian custom of foot binding.
To know more about Ethics theory, click here:
https://brainly.com/question/11992384
#SPJ4
the disadvantage of building up inventory during the off season to meet demand during peak seasons and keep production stable year round is
The disadvantage of building up inventory during the off season to meet demand during peak seasons and keep production stable year round is the cost associated with carrying excess inventory. Inventory carrying costs include storage, handling, insurance, and obsolescence.
Additionally, there is a risk that demand during the peak season may not meet expectations, leading to excess inventory and increased costs. Building up inventory also ties up capital that could be used for other business operations or investments.
Furthermore, inventory buildup may also result in quality issues and product obsolescence if trends or consumer preferences change during the off season. Overall, while building up inventory may seem like a feasible solution for maintaining production stability year-round, it can result in significant financial drawbacks.
To know more about inventory, refer to the link:
https://brainly.com/question/14184995#
#SPJ11
Ned is particularly adept at designing and creating new fashions. In which of the following would Ned have the highest level of autonomy? A) doing alterations at the dry cleaners B) creating custom bridal gowns in a bridal store C) creating custom gowns and suits for a pageant D) working as a private tailor for a local real estate agent E) working as a stylist for a local celebrity
Ned would have the highest level of autonomy in option C) creating custom gowns and suits for a pageant.
This is because creating custom gowns and suits for a pageant involves designing and creating new fashions from scratch, which requires a high level of creativity and skill.
Ned would have the freedom to choose the designs, fabrics, and styles that he believes would best suit the pageant contestants, without having to adhere to strict guidelines or rules.
Additionally, working as a private tailor for a local real estate agent and working as a stylist for a local celebrity may involve some degree of autonomy, but they would not allow Ned to showcase his full range of design and creative abilities as much as creating custom gowns and suits for a pageant would.
To know more about highest level of autonomy here
https://brainly.com/question/10575065
#SPJ11
King Dairy Treats opened for business on May 1, 2018. Its trial balance before adjustments on July 31, 2018 includes the following selected accounts: Other data: 1. Monthly amortization is $400 on the building and $200 on the equipment. 2. Certain dairy treats for which the customer had paid $400 in June, were delivered in July. 3. An inventory count of cleaning supplies at July 31 shows $900 on hand. 4. Rent for July of $900 was unpaid at July 31. 5. Insurance is paid at the rate of $200 per month. 6. Milk products worth $400 were delivered to the company on July 31, but the bill has not been received yet. 7. The note payable has an interest rate of 7% per year and is paid at the end of every calendar quarter. Instructions Journalize the adjusting entries for July on July 31.
These are the adjusting entries for July on July 31 for King Dairy Treats.
Here is a step-by-step explanation:
1. Monthly amortization on the building and equipment:
Debit Amortization Expense $600 (400 for building + 200 for equipment)
Credit Accumulated Amortization - Building $400
Credit Accumulated Amortization - Equipment $200
2. Dairy treats paid in June and delivered in July:
Debit Unearned Revenue $400
Credit Revenue $400
3. Inventory count of cleaning supplies on July 31:
Debit Cleaning Supplies Expense (difference between initial and final value)
Credit Cleaning Supplies (difference between initial and final value)
4. Rent for July unpaid on July 31:
Debit Rent Expense $900
Credit Rent Payable $900
5. Insurance paid at the rate of $200 per month:
Debit Insurance Expense $200
Credit Prepaid Insurance $200
6. Milk products were delivered on July 31, but the bill has not been received yet:
Debit Inventory $400
Credit Accounts Payable $400
7. Interest on the note payable at 7% per year paid quarterly:
Debit Interest Expense (amount calculated based on 7% annual rate and time period)
Credit Interest Payable (amount calculated based on 7% annual rate and time period)
Learn more "journal entries" at https://brainly.com/question/14279491
#SPJ11