the ledger of mai company includes the following accounts with normal balances as of december 31: retained earnings $10,700; dividends $1,650; services revenue $30,000; wages expense $16,900; and rent expense $5,000.
Prepare the necessary closing entries from the available information at December 31.
Answers
In the following question, among the conditions given, The necessary closing entries on December 31 would be as follows: Debit Retained Earnings $10,700, Credit Dividends $1,650, Debit Services Revenue $30,000, Credit Wages Expense $16,900, Debit Rent Expense $5,000
The company's ledger, as of December 31, includes the following accounts with normal balances: retained earnings $10,700, dividends $1,650, services revenue $30,000, wages expense $16,900, and rent expense $5,000. The necessary closing entries are provided below:
Closing entry for revenue accounts: Particulars Debit Credit Service revenue $30,000 Retained earnings $30,000Closing entry for expense accounts: Particulars Debit Credit Wages expense $16,900 Rent expense $5,000 Retained earnings $21,900Closing entry for dividend accounts:
Particulars Debit Credit Retained earnings $1,650 Dividends $1,650 Explanation: Closing entries are journal entries made at the end of an accounting period to zero out temporary accounts such as revenue and expense accounts and transfer their balances to the permanent account, the balance sheet.
Retained earnings and dividend accounts are also closed at the end of an accounting period to record the changes in the company's retained earnings, and dividends issued or paid. The revenue account, service revenue, will be credited to close it, while the retained earnings account will be debited for the same amount. The expenses account, wages expense and rent expense will be debited to close them, while the retained earnings account will be credited for the same amount. Finally, to close the dividends account, it will be debited, and the retained earnings account will be credited.
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Related Questions
the amount of money you may earn over time is called
Answers
The amount of money you may earn over time is called Future Earnings Potential. Amount that you might make in your lifetime. Demographics. Individual traits like age, gender, race, income, and so forth.
What is Future Earnings Potential?
Earning potential is the anticipated increase in total return that an investor might anticipate from holding an investment (capital gains plus dividends and cash flows). Ratio analysis is a tool used by fundamental analysts to estimate a company's earning potential for investors.
Total future values of your contracts less your compensation, the payroll of the company, and other fixed costs. Your projected future business income is represented by the resulting number.
Let's start with the definition of your earning potential (income potential): this is the sum of money you should be able to accumulate over the course of a certain period of time. In other words, this is a reference to your potential for financial gain. Earning potentials are often determined by the highest wage in a given industry or profession.
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julian's annual contributions to his retirement are not tax-deductible, but his earnings accumulate tax-free. he is investing in a:
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Julian's annual contributions to his retirement are not tax-deductible, but his earnings accumulate tax-free. he is investing in a Roth Individual Retirement Account (IRA).
An after-tax contribution can be made to a Roth Individual Retirement Account (IRA), a particular kind of retirement savings account. The gains on the assets grow tax-free, and eligible withdrawals are also tax-free, despite the fact that payments are not tax deductible.
In order to avoid paying taxes on their investment earnings when they retire, those who anticipate being in a higher tax bracket do so by choosing Roth IRAs. Furthermore, there are no mandatory distributions for Roth IRAs, giving investors the freedom to let their investments continue to grow tax-free.
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There are two firms, Aero and Pareto, that produce parachutes. Aero faces the demand curve q_A = 4,000 - 2P_A + P_P, and Pareto faces the demand curve q_B = 4,000 - 2P_P + P_A. Aero's output, q_A, is sold at a price of P_A. Pareto's output, q_P, is sold at a price of P_P. The firms' parachutes are differentiated and, for simplicity, assume marginal costs are zero. Solve for Aero's marginal revenue as a function of prices. Solve for Aero's reaction function. Solve for Pareto's marginal revenue as a function of prices. Solve for Pareto's reaction function. What price does each firm charge for its parachute?
Answers
Aero's marginal revenue as a function of prices is given by MR_A = 2 - 2P_A + P_P. Aero's reaction function is q_A = (4,000 - P_A + P_P) / 3. Pareto's marginal revenue as a function of prices is MR_P = 2 - 2P_P + P_A. Pareto's reaction function is q_P = (4,000 - P_P + P_A) / 3. The prices charged by each firm for their parachutes can be determined by substituting the reaction functions into their respective demand curves and solving for the prices.
To find Aero's marginal revenue as a function of prices, we differentiate Aero's total revenue with respect to q_A. Since the price P_A is constant, the marginal revenue function is given by MR_A = 2 - 2P_A + P_P.
Aero's reaction function represents the quantity of parachutes that Aero will produce based on the prices. The reaction function for Aero is q_A = (4,000 - P_A + P_P) / 3.
Similarly, Pareto's marginal revenue as a function of prices is MR_P = 2 - 2P_P + P_A.
Pareto's reaction function represents the quantity of parachutes that Pareto will produce based on the prices. The reaction function for Pareto is q_P = (4,000 - P_P + P_A) / 3.
To determine the prices charged by each firm, we need to substitute the reaction functions into their respective demand curves. By solving the resulting equations, we can find the prices P_A and P_P at which the quantity demanded equals the quantity supplied for each firm.
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You have the following information:
Stock Shares Outstanding Beginning Share Price Ending Share Price
L 3,000 $18 $24
K 57,000 $31 $36
a. If you want the beginning price-weighted index of these two stocks to be 1,000. Given this, what is the ending index value?
b. If you want the beginning price-weighted index of these two stocks to be 500. Given this, what is the ending index value?
Answers
a. The ending index value, with a beginning price-weighted index of 1,000, is approximately 1,165.68.
b. The ending index value, with a beginning price-weighted index of 500, is approximately 582.84.
a. Given:
Stock L:
Shares Outstanding: 3,000
Beginning Share Price: $18
Ending Share Price: $24
Stock K:
Shares Outstanding: 57,000
Beginning Share Price: $31
Ending Share Price: $36
Calculating the total market value at the beginning:
Total Market Value Beginning = (3,000 * $18) + (57,000 * $31) = $54,000 + $1,767,000 = $1,821,000
Calculating the total market value at the ending:
Total Market Value Ending = (3,000 * $24) + (57,000 * $36) = $72,000 + $2,052,000 = $2,124,000
Now, we can calculate the ending index value:
Ending Index Value = (Total Market Value Ending / Total Market Value Beginning) * 1,000
= ($2,124,000 / $1,821,000) * 1,000
≈ 1,165.68
Therefore, the ending index value, when the beginning price-weighted index is 1,000, would be approximately 1,165.68.
b. Similarly, if we want the beginning price-weighted index to be 500, we can use the same calculation but multiply by 500 instead of 1,000.
Ending Index Value = (Total Market Value Ending / Total Market Value Beginning) * 500
= ($2,124,000 / $1,821,000) * 500
≈ 582.84
Thus, the ending index value, when the beginning price-weighted index is 500, would be approximately 582.84.
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Store Policies that are open to interpretation by store employees
a) Customer satisfaction
b) Government law
c) Safety
d) Liability of product
Answers
Answer:
a) Customer satisfaction
Explanation:
There are three identifiers for immunologic malfunctions. two of them are known as allergy and autoimmunity. what is the third one? ____________
Answers
The third identifier for immunologic malfunctions is known as immunodeficiency.
Immunodeficiency refers to a condition where the immune system is weakened or impaired, leading to an increased susceptibility to infections and diseases. It can be either primary (inherited or congenital) or secondary (acquired due to factors like medications, medical treatments, or certain medical conditions). In immunodeficiency disorders, the immune system fails to function properly, making it challenging for the body to defend against pathogens. This can result in recurring or severe infections, reduced ability to fight off illnesses, and an increased risk of developing opportunistic infections. Immunodeficiency disorders require appropriate medical management and sometimes specialized treatments, such as immune system replacement therapies.
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______is the time between placement of an order and its receipt. one of the factors that affects it is
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Lead time is the time between placement of an order and its receipt.
The time between placement of an order and its receipt is called "lead time." Several factors can affect lead time, including availability of raw materials, production capacity, transportation, and logistics. Other factors that can affect lead time include the complexity of the manufacturing process, the location of the supplier and the customer, and any delays caused by customs or other regulatory requirements. Additionally, unexpected events such as natural disasters, labor strikes, or other disruptions can also impact lead time.
Lead time is the time it takes for an order to be fulfilled from the moment the customer places the order until the order is received. In other words, it's the time between the initiation of an order and its delivery. Lead time is an essential metric in supply chain management because it affects a company's ability to deliver products to customers on time and to maintain adequate inventory levels.
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(100 POINTS)How much money will i make my first week from dropshipping
Answers
is Aquaman destructible?
Answers
Answer:
yes
Explanation:
The Kwok Company's inventory balance on December 31, 2021, was $180,000 (based on a 12/31/2021 physical count) before considering the following transactions: 1. Goods shipped to Kwok f.o.b. destination on December 20, 2021, were received on January 4, 2022. The invoice cost was $33,000. 2. Goods shipped to Kwok f.o.b. shipping point on December 28,2021 , were received on January 5,2022 . The invoice cost was $20,000. 3. Goods shipped from Kwok to a customer f.o.b. destination on December 27, 2021, were received by the customer on January 3 , 2022. The sales price was $43,000 and the merchandise cost $25,000. 4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2021, were received by the customer on December 30 , 2021. The sales price was $23,000 and the merchandise cost $16,000. 5. Goods shipped from Kwok to a customer f.o.b. shipping point on December 28,2021 , were received by the customer on January 4 , 2022. The sales price was $28,000 and the merchandise cost $15,000. Required: Determine the correct inventory amount to be reported in Kwok's 2021 balance sheet.
Answers
The correct inventory amount to be reported in Kwok's 2021 balance sheet is $190,000.
Let's go through each transaction and adjust the inventory balance accordingly:
1. Goods shipped to Kwok f.o.b. destination on December 20, 2021, were received on January 4, 2022. The invoice cost was $33,000.
Since the goods were shipped f.o.b. destination, Kwok does not have ownership until they are received. Therefore, this transaction does not affect the inventory balance for 2021.
2. Goods shipped to Kwok f.o.b. shipping point on December 28, 2021, were received on January 5, 2022. The invoice cost was $20,000.
Since the goods were shipped f.o.b. shipping point, Kwok assumes ownership and the costs are incurred at the shipping point. Hence, the $20,000 should be included in the 2021 inventory balance.
3. Goods shipped from Kwok to a customer f.o.b. destination on December 27, 2021, were received by the customer on January 3, 2022. The sales price was $43,000, and the merchandise cost $25,000.
Since the goods were shipped f.o.b. destination, Kwok still has ownership until they are received by the customer. Therefore, the merchandise cost of $25,000 should be deducted from the 2021 inventory balance.
4. Goods shipped from Kwok to a customer f.o.b. destination on December 26, 2021, were received by the customer on December 30, 2021. The sales price was $23,000, and the merchandise cost $16,000.
Since the goods were shipped f.o.b. destination, Kwok does not have ownership after shipment. The merchandise cost of $16,000 should not be included in the 2021 inventory balance.
5. Goods shipped from Kwok to a customer f.o.b. shipping point on December 28, 2021, were received by the customer on January 4, 2022. The sales price was $28,000, and the merchandise cost $15,000.
Since the goods were shipped f.o.b. shipping point, ownership and costs were incurred at the shipping point. Therefore, the merchandise cost of $15,000 should be included in the 2021 inventory balance.
Based on the above analysis, the correct inventory amount to be reported in Kwok's 2021 balance sheet would be:
$180,000 (initial inventory balance) + $20,000 (transaction 2) - $25,000 (transaction 3) + $15,000 (transaction 5) = $190,000.
Therefore, the correct inventory amount to be reported in Kwok's 2021 balance sheet is $190,000.
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Fledgling, Corp, selected information from Fledgling's financial statements for the year ended December 31, 2021 is as follows (in $): (Bonus Question) Sales Cost of Goods Sold Gross Profit Operating Expenses Interest expenses $9,300,000 (5.200.000) 4,100,000 (1,300,000) (1.400,000) 1,400,000 (490.000) $910,000 Earings before Taxes Income Tax Expense Net Income Calculate Net Operating Profit after Taxes?
Answers
To calculate the net operating profit after taxes (NOPAT) for Fledgling Corp, we need to subtract the income tax expense from the earnings before taxes (EBT). The NOPAT for Fledgling Corp is $420,000.
Net operating profit after taxes (NOPAT) is a measure that represents the profit generated by a company from its core operations after accounting for taxes. It is calculated by subtracting the income tax expense from the earnings before taxes (EBT).
From the information provided, the earnings before taxes (EBT) is $910,000. To calculate the net operating profit after taxes, we subtract the income tax expense:
Income Tax Expense = EBT × Tax Rate
= $910,000 × 0.49
= $445,900
Finally, we can calculate the net operating profit after taxes (NOPAT):
NOPAT = EBT - Income Tax Expense
= $910,000 - $445,900
= $464,100
Therefore, the net operating profit after taxes for Fledgling Corp is $464,100.
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_____ are important to possess because they can be used in many different jobs and situations. A. Career ladders b. Transferable skills c. Lifestyle goals d. Risk factors Please select the best answer from the choices provided A B C D.
Answers
Transferable skills are important to possess because they can be used in many jobs and situations.
What are transferable skills?Transferable skills are just what they sound like, the skills that you use in every job, no matter of its title or its field.Some transferable skills are hard, like coding or data analysis, and some are soft skills, like communication and relationship building.There are 7 Transferable Skills present:Leadership skillsCommunication skillsMultitasking skillsTeam working skillsTechnical skillsCreativity skillsUnfavourable Thinking skills.Therefore, The significant tool used to possess and can be used in many jobs and situations is Transferable skills.
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can you send me answer .
please send me fast...
Answers
Answer:
all you have to do is search up the defenitions
Explanation:
In January 2020, Khors Company issued nonqualified stock options to its CEO, Jenny Svaro. Because the company did not expect Miss Svaro to leave the company, the options vested at the time they were granted with a total value of $50,000. In December of 2021, the company experienced a surge in its stock price, and Miss Svaro exercised the options. The total bargain element at the time of exercise was $60,000. For 2021, what is the book-tax difference due to the options exercised?
Answers
The book-tax difference would be the $10,000.
The book-tax difference due to the options exercised by Miss Svaro in December 2021 can be calculated based on the bargain element of $60,000. The book value of the options at the time of exercise was $50,000, which represents the value of the options when they were granted in January 2020. However, the bargain element of $60,000 indicates that the options had appreciated in value since their grant date.
For tax purposes, the bargain element is considered taxable compensation to Miss Svaro in the year of exercise. Therefore, the book-tax difference would be the additional taxable income of $60,000 minus the book value of $50,000, resulting in a book-tax difference of $10,000.
It's important to note that the book-tax difference may have further implications, such as affecting the company's financial statements, tax liability, and Miss Svaro's personal tax obligations. Consulting with a tax professional or accountant would provide more accurate guidance and understanding of the specific tax rules and regulations applicable in the relevant jurisdiction.
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2. Which of the following is NOT considered as a characteristic of an entrepreneur?
a. Copes with failure
c. Persistent
b. Dependent
d. Opportunity seeker
Answers
Answer:
Dependent
Explanation:
Analyzing the given options one after the other.
- Cope with failure: As an entrepreneur, one should be able to cope with failure. One should see failure as a setback but rather as a stepping stone to bounce back.
- Persistent: A person who is to be called an entrepreneur has to be determined to succeed and never relent.
- Dependent: An entrepreneur is an independent person and never relies on others for survival.
-Opportunity Seeker: An entrepreneur constantly seek for opportunities and immediately grasp it whenever he sees one
So, the odd one out of the given options is Dependent
1. Compute the contribution margin per package and the contribution margin ratio.
2. Find the breakeven point in units and in dollars
3. Find the number of packages Happy Ten needs to sell to earn a $18,000 operating income
Happy Ten produces sports socks. The company has fixed expenses of $90,000 and variable expenses of $0.90 pe package. Each package sells for $1.80. Read the fequirements. Requirement 1. Compute the contribution margin per package and the contribution margin ratio. Begin by identifying the formula to compute the contribution margin per package. Then compute the contribution margin per package. (Enter the amount to the nearest cent.) Contribution margin per unit
Answers
Contribution Margin per Package is the difference between the selling price per unit and the variable expenses per unit. Happy Ten needs to sell 220,000 packages to earn an $18,000 operating income.
Given, Fixed Expenses (F) = $90,000
Variable Expenses per Package (v) = $0.90
Selling Price per Package (p) = $1.80
Requirement 2. To find the breakeven point in units and in dollars, we can use the following formulas:
Breakeven Point (in units) = Fixed Expenses / Contribution Margin per unit
Breakeven Point (in dollars) = Fixed Expenses / Contribution Margin Ratio
To calculate the contribution margin per unit, we can use the formula mentioned below:
Contribution Margin per unit = Selling Price per unit – Variable Expenses per unit
= $1.80 – $0.90
= $0.90
Contribution Margin Ratio = (Contribution Margin per unit / Selling Price per unit) × 100
= ($0.90 / $1.80) × 100
= 50%
Now, let's calculate the breakeven point in units and in dollars.
Breakeven Point (in units) = Fixed Expenses / Contribution Margin per unit
= $90,000 / $0.90
= 100,000 units
Breakeven Point (in dollars) = Fixed Expenses / Contribution Margin Ratio
= $90,000 / 50%
= $180,000
Therefore, the breakeven point for Happy Ten in units is 100,000 units, and in dollars, it is $180,000.
Requirement 3. To find the number of packages Happy Ten needs to sell to earn an $18,000 operating income, we can use the following formula:
Operating Income = (Sales – Variable Expenses) – Fixed Expenses
Rearranging this formula, we get:
Sales = Variable Expenses + Fixed Expenses + Operating Income
Substituting the given values, we get: Sales = ($0.90 × Q) + $90,000 + $18,000= $0.90Q + $108,000 where Q is the number of packages sold. Therefore, the number of packages Happy Ten needs to sell to earn an $18,000 operating income would be 220,000 packages, as calculated below:
Sales = $0.90Q + $108,000$0.90Q + $108,000
= $1.80Q – $90,000$0.90Q
= $198,000Q
= $198,000 / $0.90Q
= 220,000 packages
Thus, Happy Ten needs to sell 220,000 packages to earn an $18,000 operating income.
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ICE is a non-profit organization that runs awareness campaigns and research programs that provide data to initiate the process of legislative changes on various aspects of the environment like forest cover, nuclear fuel, endangered species and others. The ICE operates through networks of grass-root level researchers who are grouped into flexible project teams whose roles and duties change with each new project. The ICE believes its employees to be like family and an informal environment pervades its functioning without any compromises being made in the efficiency. Recently, the project manager of the rainwater harvesting pilot project in the suburbs has been informed of two delays in the project. When the third extension request came to him, he looked into the matter by speaking individually with the five team members. Which of the following complaints by the team members, if true, would indicate the presence of social loafing in the team?
A) The team members were dissatisfied with the compensation package as they felt they were putting in a lot of work and being paid relatively less.
B) Nancy, one of the new team members, reported that she felt the team was not cohesive enough.
C) The scarcity of funds was one of the major concerns that all the team members mentioned.
D) Two of the most experienced employees on the team reported having to shoulder a disproportionate amount of the current workload and asked for an internal transfer.
E) A team member complained that the residents of the suburb in which they were working were uncooperative and did not accept their most cordial requests for helping in data collection.
Answers
Answer: D. Two of the most experienced employees on the team reported having to shoulder a disproportionate amount of the current workload and asked for an internal transfer.
Explanation:
Social loafing means when an individual exerts less effort in order to achieve a particular goal when the individual is part of a group but when the individual works alone , he or she works harder and exerts more effort.
Based on the information given, the presence of social loafing in the team will be that "Two of the most experienced employees on the team reported having to shoulder a disproportionate amount of the current workload and asked for an internal transfer".
Here, there's dispersion of responsibility as the results in he group group can't be attributed to a particular employee. In such case, the employees may be tempted to wanting to work alone.
What do future employers want to read in an application?
Answers
Part C
In the video, for which federal program does President Obama announce an extension of funding? (edmentum)
Answers
Answer:
He is extending funding for unemployment insurance.
Explanation:
edmentum/plato
Answer:
In the video, President Obama is extending funding for unemployment insurance.
Explanation:
"Why can production only take place on or inside the curve?"
Answers
Answer:
I suppose that you are referring to a production possibilities frontier (PPF) curve. Total production output can only take place on or inside the curve because the PPF curve gives us the maximum combination of output that we can produce of two different goods using all available resources.
e.g.
Cars Boats
100 0
80 15
60 30
40 45
20 60
0 75
If you want to produce 60 cars, the maximum number of boats that can be produced is 30. You can produce less than 30 boats, and have some spare unused resources, but you cannot produce 40 boats.
You are the senior software engineer at a start-up company developing an exciting new mobile app that will allow salespeople to generate and email sales quotes and customer invoices from their smartphones. Your company's sales force has led a major corporation to believe your product will be available next week. Unfortunately, at this point the software still contains quite a few bugs. The leader of the testing group has reported that all of the known bugs appear to be minor, but it will take another month of testing for his team to be confident the product contains no catastrophic errors. Because of the fierce competition in the mobile app industry, it is critical that your company be "first to market." To the best of your knowledge, a wellestablished company will release a similar product in a few weeks. If its product appears first, your start-up company will probably go out of business.
Answers
In this scenario, the start-up company developing an exciting new mobile app that will allow salespeople to generate and email sales quotes and customer invoices from their smartphones has to handle the challenge of being first to market.
As the senior software engineer, you need to weigh the risks and benefits of releasing a product with known bugs. In this situation, it is important to consider the risks of releasing a product with known bugs and the benefits of being the first to market. On one hand, releasing the product with known bugs could damage the reputation of the start-up company and result in lost sales. On the other hand, being first to market could give the company a competitive advantage and increase sales. The leader of the testing group has reported that all of the known bugs appear to be minor, but it will take another month of testing for his team to be confident the product contains no catastrophic errors. This means that the software still contains quite a few bugs, and there is a risk that some of these bugs could cause catastrophic errors.
To mitigate the risks of releasing a product with known bugs, the start-up company could consider delaying the release until all of the known bugs have been fixed. While this would delay the release of the product, it would also ensure that the product is of high quality and will not damage the reputation of the company.
In conclusion, it is important for the start-up company to balance the risks and benefits of releasing a product with known bugs. While being first to market could give the company a competitive advantage, releasing a product with known bugs could damage the reputation of the company. As the senior software engineer, you need to make a recommendation to the company based on your knowledge of the industry and the product.
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What is the best way to use a credit card to build your credit history?
Answers
Answer:
All you have to do is pay off your credit card bill in full and on time each month, and just keep doing that.
Explanation:
Identify a way that a budget can help business people make better decisions.
Answers
Budget gives business people a range of limited money to work with, meaning that they only have so much and no space for bad decisions. Bad decisions will then influence their way of understanding of limit and learn from it. This then pushes business people to make better decisions. Better decisions help them make more profit, increasing their budget.
The first thing that a budget gives to a management team is broader perspective. Before moving forward, an assessment has to be made about where your business stands. The first step in developing a budget is to examine your business's current financial standing. This will give you an idea of where you are in terms of daily operations, of the market as a whole and of plans for expansion and growth. Determining available funds means taking account of where all of your resources are currently being used. Some resources may be tied up in necessary expenditures, while others might be free or negotiable for use in new developments.
The real goal of budgeting is to develop short- and long-term plans. No business intends to stagnate. By carefully assessing your current standing, you have the tools to look into your future plans. Budgeting helps you and your team see what kinds of expansion would be realistic. In other cases, budgeting might reveal areas of wasteful spending that, if cut out, could help you move forward with longer-term projects. Budgeting is valuable here, because it gives you an idea of what is possible. That way, you don't embark on projects that are beyond your means or avoid expansion that is actually possible through reorganization.
The heartbeat of a business is its day-to-day operational expenses. You might want to expand into another country or open a new store, but if you’re having trouble paying your staff, that is out of the question. Budgeting can help you section off funds for daily expenses so that your business can stay afloat during rough times. Budgeting will also help you find the cheapest way to finance your day-to-day business. For example, there is no reason to get tied up in loans and interest to meet basic expenses if you are able to pay for them, interest free, out of your earnings. Budgeting allows you to streamline your business and eliminate roadblocks to growth.
Joel takes out a loan with a stated rate of 11.85% interest. If the interest is calculated weekly, how much greater is Joel’s effective rate than his stated rate?
a. 0.72 percentage points
b. 0.52 percentage points
c. 0.70 percentage points
d. 0.67 percentage points
Answers
Answer: a. 0.72 percentage points
Explanation:
Given the following :
Nominal interest rate(r) = 11.85%) = 0.1185
c = number of compounding periods in a year
p = number of compounding periods rate is required for
Number of weeks in a year = 52 = p = c
Effective interest rate (E) is given as :
E = [( 1 + (r / c) )^p] - 1
E = [(1 + (0.1185 / 52)) ^52] - 1
E = [ (1 + 0.0022788) ^52] - 1
E = [1.0022788^52] - 1
E = 1.1256551 - 1
E = 0.1256551
Effective interest rate - Nominal interest rate
0.1256551 - 0.1185 = 0.0071551
(0.0071551 × 100)% = 0.7155% = 0.72%
Answer:
the answer is A. 0.72
Explanation:
I got it correct on edg
lawler clothing sold manufacturing equipment for $16,000. lawler originally purchased the equipment for $80,000, and depreciation through the date of sale totaled $71,000.what was the gain or loss on the sale of the equipment reported in the income statement?
Answers
The gain or loss on the sale of the manufacturing equipment reported in the income statement can be calculated using the formula: Gain or loss = Sale price - (Original cost - Depreciation).
In this case, the sale price of the equipment was $16,000, while the original cost of the equipment was $80,000 and depreciation through the date of sale totaled $71,000. Using the formula, we can calculate the gain or loss on the sale of the equipment as follows:
Gain or loss = Sale price - (Original cost - Depreciation)
Gain or loss = $16,000 - ($80,000 - $71,000)
Gain or loss = $16,000 - $9,000
Gain or loss = $7,000
Therefore, the gain or loss on the sale of the equipment reported in the income statement was $7,000. This means that Lawler Clothing made a gain of $7,000 on the sale of the equipment.
Depreciation is an accounting method used to allocate the cost of a tangible asset over its useful life. It is used to reduce the book value of an asset over time. In this case, the equipment was originally purchased for $80,000, and depreciation through the date of sale totaled $71,000.
The sale of the equipment would be recorded in the income statement as a gain or loss, depending on the difference between the sale price and the book value of the equipment. In this case, since the sale price was higher than the book value, Lawler Clothing made a gain on the sale of the equipment, which was reported in the income statement.
In conclusion, the gain or loss on the sale of the manufacturing equipment reported in the income statement was $7,000. This gain was calculated by subtracting the book value of the equipment from the sale price. Depreciation plays a critical role in determining the book value of assets and helps businesses to account for the wear and tear of their assets over time.
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which feature should be used prior to finalizing a presentation to ensure that the audience members with disabilities will be able to understand the message that a presenter is trying to get across
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Answer:
B: Accessibility Checker
Explanation:
Match the items in the following two lists by matching the letter (or let- ters) of the information quality (qualities) that best describes the informa- tion quality violation presented in the second column. Some letters may not be used at all and some may be used more than once. 1. Bruce in the shipping department has been given the job of monitoring shipments to make sure that they are shipped in a timely manner. To do this, he uses a monthly report of items ordered but not shipped in the past month. A. Accuracy B. Completeness 2. Brooks Company has been recording shipments of goods that were not ordered by their customers. 3. Shipments at Ever Ltd, are entered into PCs in the shipping department office. The paperwork often gets lost between the shipping dock and the office, and some shipments do not get entered. C. Relevance 4. Order entry clerks at Carolina Inc. enter cus- tomer orders into PCs connected to the D. Timeliness accounting system. The clerks are supposed to enter a code into a field to indicate if the order was mailed, faxed, or phoned in. But they do not always enter this code. Conse- quently, data on the recorded orders regarding the type of order is not reliable. o 5. Emerald Co.'s warehouse workers write the quan- tities of what they pick goods are removed from the warehouse shelves. These workers are not careful, and the recorded quantities of what they picked is frequently wrong. E. Validity on the picking ticket as the od benidp
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Bruce in the shipping department has been given the job of monitoring shipments to make sure that they are shipped in a timely manner. To do this, he uses a monthly report of items ordered but not shipped in the past month. This violates timeliness. Therefore, D is the correct option.
Brooks Company has been recording shipments of goods that were not ordered by their customers. This violates relevance. Shipments at Ever Ltd, are entered into PCs in the shipping department office. The paperwork often gets lost between the shipping dock and the office, and some shipments do not get entered. Order entry clerks at Carolina Inc. enter customer orders into PCs connected to the accounting system. The clerks are supposed to enter a code into a field to indicate if the order was mailed, faxed, or phoned in. But they do not always enter this code. Consequently, data on the recorded orders regarding the type of order is not reliable. Emerald Co.'s warehouse workers write the quantities of what they pick goods are removed from the warehouse shelves. These workers are not careful, and the recorded quantities of what they picked are frequently wrong.
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organize an event using all functions of management
Answers
Answer:
1t1= 3
Explanation:
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Arriving 20 minutes early to an interview _____. is too early because you will not be able to use your cell phone during that period. is perfect timing for both you and the interviewer will not be enough time to showcase your patience while waiting may be an inconvenience to the interviewer
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what safeguard is specifically concerned with processes, policies, and procedures that establish standards around what security measures need to be in place in order to reduce risks involving ephi?
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The Security Rule governs the way health plans handle “electronic Protected Health Information” (ePHI).
WHAT IS EPHI?The HIPAA Security Rule requires doctors to use suitable administrative, physical, and technical protections to maintain the confidentiality, integrity, and security of patients' electronically stored, protected health information (also known as "ePHI").Employers must guarantee that their staff members have adequate access to ePHI by putting rules and processes into place, according to the workforce security standard.PHI is any individually identifying health information that a Covered Entity or one of its business partners holds or transmits, whether orally, electronically, on paper, or through any other form of medium.PHI that is transferred via or stored in electronic medium is referred to as electronic PHI.A definition of electronic media is:Electronic storage media are any removable or transportable digital memory medium, such as magnetic tape or disk, optical disk, or digital memory card, on which data is or may be electronically stored.Transmission media are used to exchange data that has already been stored on an electronic storage medium.Internet, extranets, intranets, leased lines, dial-up lines, private networks, and the actual physical movement of transportable/removable electronic storage media are only a few examples of transmission media.If the information being exchanged did not already exist in electronic form prior to the transmission, some communications, such as those of paper via facsimile and voice via telephone, are not regarded as transmissions over electronic media.To learn more about EPHI refer to:
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