1. What are the steps to record borrowing on a note payable?
2. What value do budgets provide a business?
3. Explain the difference between the Budget Overview report and
the Budget vs. Actual report.
Answers
Record borrowing 1. on a note payable: Create a entry, Determine the terms, Record periodic interest, Make payments. 2. Budgets provide several values: Planning, evaluation. 3. the Budget vs. Actual report compares the budgeted amounts to the actual amounts
What is note payable?
A note payable, also known as a promissory note or a loan note, is a written agreement between a borrower and a lender that outlines the terms and conditions of a loan. It represents a formal promise by the borrower to repay a specified amount of money to the lender within a defined period, along with any agreed-upon interest or other charges.
1. The steps to record borrowing on a note payable are as follows:
a. Create a journal entry to record the initial borrowing. Debit the cash or bank account for the amount borrowed and credit the note payable account.
b. Determine the terms of the note, such as interest rate, maturity date, and payment schedule.
c. Record periodic interest expense. Calculate the interest expense based on the note's interest rate and the outstanding balance, then create journal entries to record the interest expense and decrease the note payable.
d. Make principal payments. As the business makes payments towards the note, create journal entries to reduce the note payable and debit the cash or bank account for the principal amount.
2. Budgets provide several values to a business, including:
a. Planning: Budgets help businesses set financial goals, allocate resources, and plan for future activities.
b. Control: Budgets provide a benchmark against which actual performance can be measured. By comparing actual results to the budgeted amounts, businesses can identify and address variances and take corrective actions.
c. Decision-making: Budgets provide valuable information for decision-making. They help businesses assess the financial feasibility of projects, evaluate alternative courses of action, and allocate resources effectively.
d. Performance evaluation: Budgets allow businesses to assess their performance and achievements. By comparing actual results to the budget, businesses can evaluate their financial performance, identify areas of improvement, and take necessary measures.
3. The Budget Overview report provides a summary of the budgeted amounts for different categories or line items. It provides an overview of the budgeted revenues, expenses, and net income or loss. On the other hand, the Budget vs. Actual report compares the budgeted amounts to the actual amounts incurred or earned during a specific period.
It highlights the variances between the budgeted and actual figures, showing where the business has performed better or worse than expected. The Budget vs. Actual report allows for a detailed analysis of the discrepancies, enabling businesses to understand the reasons behind the variances and take appropriate actions to manage their finances effectively.
While the Budget Overview report provides a high-level summary of the budget, the Budget vs. Actual report provides a more granular view of the budget performance.
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Related Questions
What evidence best supports the theme that leadership requires integrity? Choose five options. ""noblest Roman of them all"" ""All the conspirators save only he"" ""Did that they did in envy of great Caesar"" ""in a general honest thought"" ""common good to all"" ""His life was gentle"" ""This was a man!"".
Answers
Answer:
The answer is "“noblest Roman of them all” , “in a general honest thought” , “common good to all” , “His life was gentle” , and “This was a man!”
Explanation:
I got it right on Edge
The five options that the leadership requires integrity are (a). Noblest Roman of them all, (d). In a general honest thought, (e). Common good to all, (f). His life was gentle and (g) This was a man!.
What is leadership integrity?Integrity in leaders refers to being genuine or honest, responsible, and reliable.
Leaders with integrity act in harmony with their terms and words. In simple words, they rehearse as they preach.
This concept of leadership makes the leader more trustful to the other person in the organization.
It includes that the leader must be The Noblest Roman of them all, In a general honest thought, he takes the decision for the Common good of all, and His life was gentle.
Therefore, options (a), (d), (e), (f), (g) are correct.
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If Suzette responds to an increase in the interest rate by decreasing her saving, then, for Suzette, Select one: a. consumption when young and consumption when old are perfect substitutes. b. the increase in the interest rate creates an income effect that is greater than the substitution effect. c. the increase in the interest rate creates a substitution effect that is greater than the income effect. d. consumption when young and consumption when old are perfect complements.
Answers
Answer:
b. the increase in the interest rate creates an income effect that is greater than the substitution effect.
Explanation:
Interest rate can be regarded as amount that is been charged by lender for using an assets, this asset could be cash, goods, and this is usually display as a percentage of the lent principal.
The income effect gives shows how increased purchasing power can impact consumption, substitution effect on other hands, shows how changing relative income as well prices impact consumption. Both economics concepts give expression of changes that occur in the market as well as how this changes impact consumption patterns as regards consumer goods and services.
It should be noted that the increase in the interest rate creates an income effect that is greater than the substitution effect.
Buster has had a serious medical condition for many months. He has used up all of his sick leave and vacation days, as well as 10 weeks of intermittent Family Medical Leave Act leave. He asks for an additional two weeks off. Which of the following is true? A. Buster's employer can fire him because he wants to take more leave B. Buster cannot be fired for reasons aside from his need to take leave. C. Buster cannot take any more leave if he has also used up his sick leave and vacation days. D. Buster is entitled to the leave he is asking for.
Answers
Answer:
C. Buster cannot take any more leave if he has also used up his sick leave and vacation days.
Explanation:
Buster has used up all the sick leaves and the vacation leaves and is asking for additional two more weeks off even after taking the ten-week of intermediate family leave he should be not allowed to take more leaves. Through he cannot be fired due to his serious condition but if he has finished all the sick leaves he should not be given.Answer:
b
Explanation:
help
....... ...........................
Answers
If I were appointed as an office assistant, to increase the efficiency in the office, I would use schedule to my advantage. Set times to work on set projects without interruption, and then breaks to cool down or transition topics would be crucial. I would also strongly encourage organization of physical property as well as filing so everyone can conveniently and efficiently access what they need.
How can weaknesses of bureaucratic theory may be addressed
effectively by public administrators in public sector?
Answers
Weaknesses of bureaucratic theory can be effectively addressed by public administrators in the public sector through promoting flexibility, enhancing communication, streamlining processes, and fostering accountability.
The weaknesses of bureaucratic theory can be effectively addressed by public administrators in the public sector through various strategies. Here are some steps that can be taken:
1. Promote flexibility: Bureaucratic theory is often criticized for being rigid and inflexible. To address this weakness, public administrators can introduce more flexibility in processes and procedures. This can be done by allowing for exceptions to be made when necessary, providing opportunities for innovation and creativity, and encouraging employees to find alternative solutions to problems.
2. Enhance communication: Bureaucratic organizations often suffer from communication gaps and hierarchical structures that hinder effective decision-making. Public administrators can address this weakness by promoting open and transparent communication channels. This can involve establishing regular meetings, encouraging feedback and suggestions from employees, and utilizing technology platforms for efficient communication.
3. Streamline processes: Bureaucratic organizations can be characterized by excessive red tape and lengthy decision-making processes. Public administrators can address this weakness by streamlining procedures and reducing unnecessary bureaucracy. This can involve simplifying forms, automating processes through technology, and delegating decision-making authority to lower-level employees.
4. Foster accountability: Bureaucratic theory sometimes lacks accountability mechanisms, leading to a lack of responsibility and ownership among employees. Public administrators can address this weakness by implementing clear performance evaluation systems, setting measurable goals and objectives, and establishing mechanisms for holding employees accountable for their actions and decisions.
Weaknesses of bureaucratic theory can be effectively addressed by public administrators in the public sector through promoting flexibility, enhancing communication, streamlining processes, and fostering accountability. These steps can help create a more efficient and responsive public sector.
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If a member firm wishes to offer structured products to its customers, which written supervisory procedure is not required?
Answers
The written supervisory procedure that is not required for a member firm to offer structured products to its customers is the procedure for margin accounts. When a member firm offers structured products to its customers, there are several written supervisory procedures that need to be followed to ensure compliance with regulations and to protect the interests of the customers. These procedures include:
1. Procedure for suitability: This procedure requires the member firm to assess whether a structured product is suitable for a particular customer based on their investment objectives, risk tolerance, and financial situation.
2. Procedure for disclosure: This procedure involves providing customers with all relevant information about the structured product, including its features, risks, potential returns, and fees.
3. Procedure for supervision: This procedure involves monitoring and supervising the activities related to structured products to detect and prevent any potential misconduct or violations of regulations.
In summary, when a member firm wishes to offer structured products to its customers, the written supervisory procedure for margin accounts is not required. Instead, the firm should focus on implementing procedures for suitability, disclosure, and supervision to ensure compliance and protect the interests of their customers.
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__________ is the elapsed time beginning with the initiation of production and ending with the cash collection of receivables from the sale of the product.
Answers
The cash conversion cycle is the elapsed time beginning with the initiation of production and ending with the cash collection of receivables from the sale of the product.
The cash conversion cycle measures the time it takes for a company to convert its investments in inventory and other production costs back into cash through sales and the subsequent collection of receivables.
The cycle includes the time taken to sell inventory, the time it takes for customers to pay for the goods or services, and the time required to convert receivables into cash. A shorter cash conversion cycle is generally desirable as it signifies a more efficient use of working capital and quicker cash flow generation.
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through a process of , traditional intermediaries are being eliminated as many companies question the value added by layers in the distribution channel.
Answers
Answer:
distintermediation
Explanation:
A fixed input, X, and a variable input, Y, are used to produce good A. If the marginal physical product (MPP) of Y is constant, it follows that the a. marginal cost curve is upward sloping. b. total fixed cost curve is vertical. c. total variable cost curve is downward sloping. d. b and c e. none of the above
Answers
Answer:
umm........i think its A..............
Explanation:
You should inform the person who is writing your letter of recommendation of
all of the following things except
A. where you are applying and why.
B. when the letter is due.
C. what you would like him or her to write.
D. what type of financial aid you are seeking.
Answers
Answer:
D.what type of financial aid you are seeking
what are the ways of receiving employment related information?
Answers
Answer:
just do well on software and follow me for updates
Which of the following cannot be claimed as a business expense on Cynthia’s
Schedule C? A. Cleaning supplies B. Business cards C. Lunches D. Work gloves
Answers
On Cynthia's Schedule C, she can claim various business expenses that are necessary for her business to operate. The correct answer is C. Lunches.
However, not all expenses can be claimed as business expenses. In this case, lunches cannot be claimed as a business expense on Cynthia's Schedule C. The correct answer is C. Lunches.
Business expenses that can be claimed on Schedule C include cleaning supplies (A), business cards (B), and work gloves (D). These are all necessary expenses for the operation of Cynthia's business and can be deducted from her taxable income. However, lunches (C) are considered a personal expenses and cannot be claimed as a business expense on Schedule C.
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An investor thought that market interest rates were going to decline. He paid $19,000 fora corporate bond with a face value of $20,000. The bond has an interest rate of 10% per year payable annually. If the investor plans to sell the bond immediately after receiving the 4th interest payment, how much will he have to receive (sell it for) in order to make a return of 14% per year?
Answers
Answer:
$22,251
Explanation:
Coupon rate = $2,000
Now, we calculate the seired sale price of the bonds:
19,000 = 2,000[P/A, 14%, 4] + S[P/F. 14%, 4]
19,000 = 2,000(2.9137) + S(0.592)
S = (19,000 - 5,827.4) / 0.592
S = 22251.01351351351
S = $22,251
So, he have to receive $22,251.
Your survey indicates the following favorite beverage choices: 20 milk, 13 water, 22 soda, 32 coffee. What percentage of
customers can you satisfy if you just serve water or soda?
Answers
You can satisfy 38% of customers with water or soda from the given beverage choices.
How to find out the percentage of customers?
Total customers= 87
Milk and Water customers= 33 (20+13)
20+13=33 out of 33+22+32=87
33 out of (/) 87 = 33/87=0.379 or 0.38 or 38%
What is a beverage industry?
The beverage business manufactures beverages, particularly ready-to-drink goods. Depending on the product being manufactured, drink manufacturing can vary substantially. Bottling facilities vary in the kinds of bottling lines they use and the kinds of beverages they can process. Examples include alcohol, carbonated beverages, soft drinks, energy drinks, milk products, coffee- and tea-based goods, and mineral water.
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ow is a purchase order different from a bill? multiple choice customer name and vendor name purchase price and customer address selling price and customer name purchase price and selling price
Answers
A purchase order is a document generated by a buyer to request goods or services from a vendor. It includes details such as the customer name, vendor name, items to be purchased, and purchase price.
The purchase order serves as an agreement between the buyer and vendor before any goods or services are provided.
On the other hand, a bill (or invoice) is a document generated by the vendor after the goods or services have been provided to the buyer. It includes details such as the customer name, selling price, and any additional fees or charges. The bill serves as a request for payment from the buyer to the vendor.
In summary, the main difference between a purchase order and a bill is that a purchase order is created before goods or services are provided, while a bill is created after they have been provided. A purchase order serves as a request for goods or services, while a bill serves as a request for payment.
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Can I withdraw my contributions from a Roth IRA without a penalty?
Answers
You can withdraw contributions you made to your Roth IRA anytime, tax- and penalty-free.
An character retirement account (IRA) is an account used to store for retirement. A Roth IRA is a special sort of tax-advantaged person retirement account to which you may make contributions after-tax bucks. The primary advantage of a Roth IRA is that your contributions and the income on the ones contributions can develop tax-loose and be withdrawn tax-free after the age 59½ assuming the account has been open for as a minimum 5 years. In different words, you pay taxes on money going into your Roth IRA, after which all future withdrawals are tax-unfastened.
Roth IRAs are much like conventional IRAs, with the most important distinction being how the 2 are taxed. Roth IRAs are funded with after-tax greenbacks—which means that the contributions aren't tax-deductible, however after you start taking flight price range, the money is tax-loose.
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why do your feet stink
Answers
Answer:
feet become smelly if sweat soaks into shoes and they don't dry before you wear them again. Bacteria on the skin break down sweat as it comes from the pores.
Does Ireland have an absolute or comparative trade advantage
Answers
I would say it would be a comparative trade advantage.
----------------------------------------
Ireland has a comparative advantage in cheese and butter due to climate and a large amount of land suitable for dairy cows.
Ireland has an established comparative advantage in producing grass-based milk and meat which provides cost and food efficacy advantages at a global level.
----------------------------------------
Hope this helps!
Have a great day and God bless! :)
Answer:
comparative advantage
Explanation:
i looked it up
A company completes construction of a $400 million offshore oil platform and places it into service on January 1. State law requires that the platform be dismantled and removed at the end of its useful life, which is estimated to be 10 years. The company estimates that the cost of dismantling the platform will be $20 million. The discounted value of the liability is $9 million using the company's credit-adjusted, risk-free rate. The company has already capitalized the $400 million construction cost of the platform. What amounts should the company record as liability and expense when the asset is placed into service
Answers
Answer:
b. Liability, $9,000,000; expense, $0.
Explanation:
An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations
Here the $9,000,000 million represents the liability
Also the journal entry is
Asset Dr
To liability
(Being the asset placed is recorded)
There is no expense should be recorded in the income statement
What is meant by the term target market?
Answers
Answer:
A target market is the set of consumers that a company plans to sell to or reach with marketing activities. A target audience is the group or segment within that target market that is being served advertisements.hope it helps.stay safe healthy and happy...Jay recently was promoted to a management position in a firm that had been extremely bureaucratic. However, the environment changed dramatically and the new management team knew it needed to change the organization quickly if it was to survive. Jay suggested that the management team allow the employees to develop more confidence in their ability to do a good job by sharing power with them. The others on the team were skeptical, but they allowed Jay to experiment. In this situation Jay is suggesting using __________ to increase employee confidence in their ability to do the job.
Answers
Answer:
Empowerment
Explanation:
Employee management is done in different ways. Some managers prefer to take charge and instruct their reports on what to do. This approach puts a lot of pressure on the manager because his input is needed in every activity.
Another method of employee management is empowerment. This involves assigning responsibility over various aspects of the job to employees and holding them accountable for the outcome.
This way employees feel valued and their confidence grows.
Jay is trying to use empowerment to increase employee productivity by allowing the employees to develop more confidence in their ability to do a good job by sharing power with them.
4. what role do professional organizations play in setting the standards of public relations practice?
Answers
These professional organizations serve as a forum for communication and collaboration among industry professionals, offering resources and training to help members stay informed and up-to-date on the latest developments in the field.
Professional organizations in the field of public relations play a crucial role in setting the standards of practice. These organizations serve as a forum for communication and collaboration among industry professionals, offering resources and training to help members stay informed and up-to-date on the latest developments in the field.
They also establish and enforce codes of ethics that guide the behavior and practices of practitioners, ensuring that they uphold the highest standards of integrity and professionalism.
By setting these standards, professional organizations help to maintain the credibility and reputation of the public relations industry and promote best practices that benefit both practitioners and the organizations they represent.
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What did the New Jersey Plan argue for?
Answers
The answer is, William Paterson's New Jersey Plan, the Virginia Plan's rival, aimed to equalize state participation in a unicameral legislature.
How would you define law?Making laws for a nation is the responsibility of the legislative branch of government. In democracies, the citizens of the nation elect individuals known as lawmakers to serve on legislatures.
In a government, what does a legislature do?Legislative. The House and Senate, jointly known as the Congress, make up the legislative branch of government. The legislative branch also has the authority to declare war, create all laws, manage taxation and spending, and regulate interstate and international trade.
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When you plan a presentation, how should you make sure you stay on track as you talk?
A. Make a list of general topics and points you want to cover.
B. Write out every word of the presentation on notecards.
C. Memorize every word of the presentation in your head.
D. Have the audience tell you what else you need to talk about.
Answers
Answer:
A make a list
Explanation:
Answer:
It's A. Make a list of general topics and points you want to cover.
Explanation: hope it helps ^w^
If a customer agrees to retain merchandise that is defective because the seller is willing to reduce the selling price, this transaction is known as a sales.
Answers
Answer:
Allowance.
Explanation:
Consumers around the world facing the pain of inflation after
the pandemic. It is becoming evident in all sectors of the economy.
When it comes to products, we are calling it "Shrinkflation". We
a
Answers
"Shrinkflation" refers to the practice of reducing the size or quantity of a product while maintaining its price, effectively leading to an increase in the product's unit price.
It is a response from manufacturers and retailers to combat rising costs without overtly increasing prices. Inflation, the general increase in prices of goods and services, can impact consumers' purchasing power and lead to a decrease in the value of money.
During periods of inflation, businesses may face higher production and operational costs, including raw materials, labor, and transportation. Rather than increasing the price of a product directly, manufacturers and retailers may choose to implement shrinkflation.
Shrinkflation involves reducing the size, quantity, or content of a product while keeping its price the same. This strategy allows businesses to maintain the perception of price stability while offsetting the impact of inflation on their costs.
Consumers may notice that they are paying the same amount for a product but receiving less of it. Shrinkflation can occur across various sectors, including food, beverages, household goods, and personal care products.
While it may help businesses manage their costs, it can be challenging for consumers as it effectively reduces the value they receive for their money.
Overall, "shrinkflation" is a term used to describe the phenomenon of reducing product size or quantity as a response to inflation, allowing businesses to maintain prices while adjusting for increased costs.
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Partnership made when direct investment in a foreign country occurs with a domestic partner are called a. Multinationals b. Mini-nationals c. Joint ventures d. Cooperatives
Answers
Answer:
c. Joint ventures
Explanation:
A foreign direct investment (FDI) can be defined as an investment made by an individual or business entity (investor) into an investment market (industry) located in another country. The investor here, shares a different country of origin from the country where his investment is located. In a foreign direct investment (FDI), an investor must establish his business, factory and operations in a foreign country or acquire assets in a business that is being operated in a foreign country.
Additionally, foreign direct investment (FDI) are categorized into three (3) main types and these are;
1. Vertical FDI: it involves establishing a different business that is however similar to the main business owned by the investor.
2. Horizontal FDI: it involves establishing the same type of business in a foreign country as owned in the investor's country.
3. Conglomerate FDI: it involves establishing a business that is completely different in another (foreign) country.
Partnership made when direct investment in a foreign country occurs with a domestic partner are called joint ventures. It is typically established or initiated by two or more people on mutual grounds to make profits and sharing costs.
The first step in the IMC planning process is:
A) analysis of the company's context
B) defining the firm's target market
C) an analysis of the product positioning
D) developing communications objective
Answers
The first step in the IMC (Integrated Marketing Communications) planning process is typically considered to be the analysis of the company's context. This involves an assessment of the overall business environment, including factors such as industry trends, market conditions, and the competitive landscape.
It also involves an evaluation of the company's internal resources and capabilities, such as its brand equity, marketing budget, and personnel. While defining the firm's target market is an important aspect of the IMC planning process, it is often considered to be a later step in the process. Before a target market can be defined, it is important to have a thorough understanding of the company's context and the various factors that may impact its marketing strategy.
Similarly, an analysis of the product positioning is an important component of the IMC planning process, but it also typically occurs after the initial assessment of the company's context. This involves evaluating how the product or service is currently perceived by consumers and how it stacks up against competing offerings in the marketplace. Finally, developing communications objectives is a critical step in the IMC planning process, but it typically occurs after the company's context has been analyzed and a target market has been defined. This involves setting specific, measurable goals for the marketing communications campaign, such as increasing brand awareness or driving sales. In summary, while all of these steps are important components of the IMC planning process, the analysis of the company's context is generally considered to be the first and most foundational step in the process.
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Review each of the investment opportunities provided by Earll Investments and Pima Financial Trading. In a three paragraph
essay (a minimum of 4-5 sentences), write an analysis of these opportunities that answers the following questions.
Based on the evidence available to you, which investment opportunity is more likely to be fraudulent? What are the true
risks of investment with this company, and does the company accurately describe these risks? What are the potential
returns on an investment, and does the company accurately describe these returns?
Answers
All investment types do possess some level of risks hazard. Based on the evidence available to me, the investment opportunity that more likely to be fraudulent is the first investment that is made.
The true risks of investment with this company are hazard linked to land, stocks, wares, or court cases.
What are the potential returns on an investment?In regards to the investment made, Projected return, or what we call the potential return, is one that can create a lot of profit or loss.
Note that it is seen as a form of calculated metric that aids investors to be able to the amount of potential profit an investment may get and in the above case it may yield more profit or loss.
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Answer:
"After reviewing the investment opportunities provided by Earll Investments and Pima Financial Trading, it is evident that the investment opportunity offered by Pima Financial Trading is more likely to be fraudulent. The investment opportunity offered by Pima Financial Trading promises extremely high returns, which is usually a red flag for fraudulent activities. On the other hand, Earll Investments offers a more conservative investment opportunity, which promises a reasonable return on investment.
The true risks of investing with Pima Financial Trading are not accurately described by the company. The company claims that their investment opportunities are low-risk, but this is unlikely given the high returns promised. The higher the potential return on investment, the higher the risk involved. Pima Financial Trading also fails to provide detailed information about the investment strategies they use, making it difficult for investors to assess the risks involved.
In contrast, Earll Investments accurately describes the risks involved in their investment opportunity. The company acknowledges that there is a risk of loss, but emphasizes that this risk can be minimized by diversifying investments. The potential returns on an investment with Earll Investments are also accurately described, with the company offering a reasonable return on investment. Investors should exercise caution when considering investment opportunities offered by Pima Financial Trading, and carefully assess the risks involved."
analyse the impact of an enterprise using break even analysis to make business decisions
Answers
Answer:
Using break-even analysis in your feed and grain business can help you understand and examine the profit drivers of your business. It is a very useful tool that can help you understand how much you need to sell to cover your costs and how pricing, cost, and volume changes impact these needed sales.