Your classmates from the University of Chicago are planning to go to Miami for spring break, and you are undecided about whether you should go with them. The round-trip airfare is $600, but you have a frequent-flyer coupon worth $500 that you could use to pay part of the airfare. All other costs for the vacation are exactly $900. The most you would be willing to pay for the trip is $1,400. Your only alternative use for your frequent-flyer coupon is for your trip to Atlanta two weeks after the break to attend your sister's graduation, which your parents are forcing you to attend. The Chicago-Atlanta round-trip airfare is $450. If the Chicago-Atlanta round-trip air fare were $350, should you use the coupon to go to Miami?

Answers

Answer 1

Answer:

You should use the discount coupon to pay for the Chicago-Miami trip. Not considering the personal motivations for the trip, the coupon is worth $500. The cost of flying is $600, so you will only pay $100 yourself. You will be spending $900 + $1000 = $1,000 in total.

The opportunity cost of using the coupon is $350 (the cost of the round trip to Atlanta). Even if you add the $350 to the $1,000 expense, the total is $1,350, less than your $1,400 maximum budget.


Related Questions

Which of the following is true of a good benefits plan?
a. It is generally inexpensive to buy and administer.
b. It will stimulate higher performance levels.
c. It will encourage people to join an organization.
d. It will include redundancies in coverage.
e. It allows for smaller pay increases.

Answers

Answer:

C

Explanation:

The following is true of a good benefits plan it will encourage people to join an organization. The correct option is c.

What are the benefits of motivated employees?

There are several benefits to having a motivated workforce, including lower absenteeism rates, employee retention rates, low staff turnover rates, improved management-worker relationships, higher worker performance, improved quality, and enhanced customer service.

A good benefits plan is an essential part of an organization's compensation strategy. It can be used to attract and retain talented employees and can be a competitive advantage in the job market. A well-designed benefits plan can also help to improve employee morale, motivation, and job satisfaction. While it may require a significant investment, a good benefits plan can provide a good return on investment for the organization.

Thus, the ideal selection is option c.

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If your expenses total $21000 in Year 1 and you expect inflation rate to be 2 percent, how much more will you have to spend to buy the same goods and services in Year 2, assuming that all your expenses increase at the same rate as inflation?

Answers

Answer:

$21,420

Explanation:

The total expense in year 1 was $21000

the inflation rate is 2 percent. it means prices will increase by 2 percent.

The amount to be spent in year 2 will be more by 2% than year 1

If year expenses are 100%, year 2 expenses will be 102%

Actual year 2 expense will be 102% of $21,000

=102/100 x $21,000

=1.02 x $21,000

=$21,420

Describe the role of separation and termination in relation to broader human resources and business objectives

Answers

Answer:

Separation and or termination in HR relates to the cessation of the relationship between employer and employee.

Separation and or termination of the contract may occur in the following ways:

1. Constructive Discharge

2. Firing

3. Layoff

4. Termination by Mutual Agreement

5. Termination with Prejudice

6. Termination without Prejudice

7. Involuntary Termination of employment contract

8. Voluntary Termination of employment contract

9. Wrongful Termination of employment contract

10. Cessation of Temporary Contracts

Explanation:

Regardless of the type of separation or termination which occurs, the business owner and the the HR manager must realize that the HR funnel must never run short of hands with which the organization will attain its goals/objectives.

Recognizing the times lines for contracts that are terminal in nature, anticipating and preparing for sudden separation and planning adequately for these occurrences using HR Planning enables the business to continue to thrive regardless of its rate of turnover.

Cheers

SilverFinn makes high-end jewelry for women. This jewelry is manufactured and patented in Italy. Manufacturers in Argentina create counterfeit SilverFinn jewelry and sell it in local markets at nearly similar prices to the original SilverFinn jewelry sold in other countries. This lack of intellectual property protection is like to result in

Answers

Answer: a. reduction in export opportunities from Argentina to other countries.

Explanation:

SilverFinn jewellery probably has intellectual property protection in other countries so when Argentinian producers make those counterfeits, they will be unable to sell it outside Argentina where it would not be allowed to be sold. This will reduce the export opportunities from Argentina to other countries.

It may also reduce the export opportunities of other goods from Argentina because other countries might be slow to trust that what Argentina is sending are indeed genuine goods because they have been known to counterfeit SilverFinn jewelry.


Which of the following are the responsibilities of middle-level managers? (Choose every correct answer.)

Answers

To supervise workers over their day-to-day tasks. generally, middle- position directors are responsible for overseeing their brigades and workers to help a company negotiate its pretensions through design and platoon operation. They will apply programs and objects, and manage prospects with elderly- position operation.

What are the responsibilities of middle-level managers?

Middle superintendences part is substantial and critical to the overall health of the association! Unfortunately, middle operation is overlooked, more frequently than not, as they're micromanaged or not allowed the capability to make opinions that lead to failures or successes. Middle directors MUST be grown, trained, chops developed, ideas allowed and trusted. Middle directors MUST be viewed as the unborn leaders of your association! Organic growth from within, and people moving through the species of the company, is the healthiest way to develop a culture from within.

Middle directors are assigned with running their departments, or divisions, and to execute the plays handed down from upper/ elderly position directors they make the business work daily. They're closest to thrills on the ground and their views, opinions, and fancies need to be taken seriously and openly by elderly leaders. Only by having a strong, stable and visionary middle operation platoon, can you look at the overall company as one which will achieve greatness.

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Task 1: Your Financial Services Career
Choose a career in the financial services industry and identify the required (or optional) certification/licenses for the career option you chose.

Task 2: Certification Process Describe the process of attaining your certification.

Task 3: Take a Practice Test

Find a website that offers a practice test for your chosen certification and take the practice test. Describe the results.

Answers

For Task 1, I have chosen to discuss the career of a Financial Advisor. To become a Financial Advisor, there are several required and optional certifications/licenses that can help advance your career and increase your credibility with clients.

For Task 2, the process of attaining a certification can vary depending on the specific certification/license. However, in general, the process typically involves completing educational requirements, passing an exam, and completing ongoing continuing education to maintain the certification.

For Task 3, I found a website that offers a practice test for the CFP certification. After taking the practice test, I found that there were areas where I need to improve my knowledge and understanding.

The most common required certification is the Series 7 license, which allows an individual to sell securities such as stocks, bonds, and mutual funds. Additionally, a Series 66 license is often required, which covers state securities regulations and ethical practices. Optional certifications include the Certified Financial Planner (CFP) designation, which requires a bachelor's degree, passing an exam, and completing ongoing education requirements.

Another optional certification is the Chartered Financial Analyst (CFA) designation, which requires passing a series of three exams and obtaining relevant work experience. For example, to obtain a Series 7 license, an individual must first be sponsored by a FINRA registered broker-dealer and complete a training program. Then, they must pass the Series 7 exam, which covers a broad range of financial topics.

Continuing education is required to maintain the license, with a focus on updates and changes in securities regulations and ethical practices. It was a helpful exercise in identifying my strengths and weaknesses and where I need to focus my study efforts. The practice test was a useful tool to assess my readiness for the actual exam and helped me gain a better understanding of the level of knowledge and skills required to become a Certified Financial Planner.

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1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.

Answers

1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.

This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.

In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

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You work for an accounting firm. Just last week the state legislature passed reforms to the state tax code. The revised tax code was published with an accompanying online report. You have been asked by your supervisor to compress the main points from the online report. What type of short informational report have you been asked to write? A summary A periodic report An investigative report

Answers

Answer:

A summary

Explanation:

you need to compress the main points which makes the answer a summary.

Suppose Tom, a UVA professor, wants to hire a research assistant to help him write papers. There are two pools to hire from: Virginia students and Virginia Tech students. If Tom procures LUV A hours of labor from UVA students and LV T hours of labor from Virginia Tech students, total research output will be Q = LUV A + LV T Virginia Tech students charge $20 per hour, while UVA students, being smarter, charge $30 per hour. Because Virginia Tech is far away, there is only one Virginia Tech student willing to work for Tom, and he is limited to working for 25 hours. There is no limit to the number of hours Tom can procure from UVA students.(1) Suppose Tom has a target output of Q papers. How many hours of labor from Virginia Tech students will he choose, and how many hours of labor from UVA students will he choose? (Your answer for each case should be a function of the target output Q.) (2) Solve for Tom's cost function C(Q). (3) What is Tom's average cost function AC(Q)? Plot this function. Are there economies of scale, diseconomies of scale, neither, or does the answer change for different values of Q? Explain.

Answers

That’s a lot.... like a lot a lot

I feel bad

If Canadians were not allowed to own private property and did not have freedom of choice, what impact would that have on business?

Answers

Answer:A big one

Explanation:

They don’t have freedom of speech.

COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST

YOU NEED TO PROVE YOUR ANSWER

Direction: Read each statement carefully. Write True in the blank if the statement is right and False if it is wrong and prove it.

3. Poor corporate image is a strength of the firm.

4. Money is the lifeblood of every business.

5. Customers are the king of the market.

6. Demographic aspects are the characteristics of the people in which the organization can be found.

7. Macro and micro environment are types of internal environment.

8. Technological includes the use of robots and online commerce.

9. Improper plans and policies help the firm to accomplish its objectives.

10. Socio-cultural are the characteristics of the population of a certain place. ​​​​ ​​

Answers

Answer:

true

false

false

true

true

true

false

false

Explanation:

most of the true questions are statements that can be proven so all u have to put is true ,a statement that can be proven and on the false ones just put , they are opinions


What is product positioning?

Answers

Answer:

Product positioning is a form of marketing that presents the benefits of your product to a particular target audience.

Explanation:

When the production possibilities curve increases, a corresponding increase would take place with aggregate demand. decrease would take place with aggregate demand. decrease would take place with short run aggregate supply. decrease would take place with long run aggregate supply. increase would take place with long run aggregate supply.

Answers

Answer: increase would take place with long run aggregate supply.

Explanation:

The Production Possibilities Curve shows the highest combinations of two goods that can be produced if all resources are utilized efficiently.

Should this curve increase, it would mean that the capacity to produce has increased in the country and they are now able to produce more goods than before.

This would impact the long run aggregate supply curve by shifting it to the right to show that more goods can now be produced in the economy than before.

What is globalization?

Answers

Answer:

the process by which businesses or other organizations develop international influence or start operating on an international scale.

in other words

the process where businesses or organizations begin spreading internationally

Explanation:

Which type of bond is sold at face value?
SEP

CD

Series I Savings Bond

Series EE Savings Bonds

Answers

The type of bond sold at face value are Series I savings bond and Series EE savings Bonds.

An IOU-like debt security is called a bond. Borrowers issue bonds to attract capital from investors ready to extend a loan to them for a specific period of time. When you purchase a bond, you are making a loan to the issuer, a corporation, a government, or a municipality.

Governments and businesses both issue bonds to raise money. By purchasing a bond, you are making a loan to the issuer, who agrees to repay the face value of the loan on a specific date and you pay along the way, you will receive periodic interest payments—typically twice a year.

The correct answer are both "3rd and 4th" option.

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As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 25% of Nursery Supplies Inc.’s 8 million shares of capital stock for $40 million. The fair value and book value of the shares were the same at that time. The company realizes that this investment typically would be accounted for under the equity method, but instead chooses to measure the investment at fair value. During the year, Nursery Supplies reported net income of $40 million and distributed cash dividends of $2.00 per share. At the end of the year, the fair value of the shares is $35 million.


Required:
1. How would this investment be classified on Florists' balance sheet?
2. Prepare all appropriate journal entries related to the investment during 2021, under the fair value option, and in a manner similar to what Florists would use for investments in equity securities for which it does not have significant influence.

Record the purchase.

Record the dividends.

Record any adjusting entry needed at year-end for the change in fair value.

Answers

Answer:

how many questions are there

.

Explanation:

Which of the following refers to the cost of the pure insurance coverage?

Answers

The premium reflects the cost of obtaining insurance protection and allows the insurance company to cover potential losses, administer claims, and maintain profitability in the insurance industry.

The cost of the pure insurance coverage is referred to as the premium. The premium is the amount of money that an individual or entity pays to an insurance company in exchange for the transfer of risk and the coverage provided by an insurance policy. It represents the cost of obtaining insurance protection against potential losses or damages.

When calculating the premium, insurance companies consider various factors, including the type of insurance coverage, the level of risk associated with the insured entity or individual, the coverage limits, and the probability of a claim being made. Actuaries play a key role in determining the premium by analyzing statistical data, assessing risks, and calculating the expected losses and expenses associated with providing the insurance coverage.

The premium can be paid in different ways, such as annually, semi-annually, quarterly, or monthly, depending on the terms of the insurance policy and the agreement between the insured and the insurance company. The amount of the premium is typically based on the insurer's assessment of the risk involved and is adjusted accordingly.

It's important to note that the premium represents the cost of the insurance coverage itself and does not include additional fees or charges that may be associated with the policy, such as administrative fees or taxes. These additional costs are typically separate from the pure insurance coverage and may vary depending on the insurance company and the specific policy terms.

Overall, the premium reflects the cost of obtaining insurance protection and allows the insurance company to cover potential losses, administer claims, and maintain profitability in the insurance industry.

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Emma started a business called memories and melodies she recognized that music socialization and memory challenging activities for senior citizens helped maintain their cognitive skills for longer periods of time

Answers

As Emma started a business called memories and melodies she recognized that music socialization The Non-profit work is thereby the Emma.

What is Business?

An innovative company or group that engages in professional activities is referred to as a business. They could be industrial, commercial, or something else. Businesses that are for-profit operate to make a profit, whereas those that are nonprofit do so to further a philanthropic cause.

The organization through striving for profits but is intended to use the profits for the social welfare of specific society sections. Such an organization is termed a nonprofit organization

Therefore, Thus option(C) is correct.

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The options are:

Profit

Business

Non-profit.

Drivers must stop at red lights so that they do not get in car accidents. This is an example of
how rules create order.
a code of ethics.
O a mission statement.
O how rules are overreaching.

Answers

Answer:

A - How rules create order

Explanation:

Answer:

how rules create order

Explanation:

QERFEWTDGFSETHWRSTGHBDRAEAGBHSWRTYH

Answers

Answer:

Explanation:na

HELWHWOWBEIEJSKSJEOEN

The NASDAQ is a floor-based exchange.


t or f

Answers

False. NASDAQ has no physical trading floor because all of the stocks are pretty much made electronically.

Compared to Country Y, Country X has a comparative advantage in producing computers. Country Y has a comparative advantage over Country X in producing automobiles. How can the two countries BEST take advantage of this situation?
Country X and Country Y can impose barriers to trade between themselves.

Country X and Country Y can specialize their production and trade with each other.

County Y can stop producing goods and import all of its products from Country X.

Country X can stop producing goods and import all of its products from Country Y.

Suppose the value of the Japanese yen appreciates relative to the US dollar. Who would this benefit? Select all that apply.
Japanese tourists visiting the United States

US tourists visiting Japan

Japanese exporters of goods to the United States

US importers of goods from Japan

Japanese importers of goods from the United States

Look at the exchange rate table. Then answer the question that follows.

Ethan is an American who buys and sells goods in the international market. He recently bought goods that cost 10,000 yen from a company in Japan. How much money did he spend in US dollars?$100

$1,000

$10,000

$100,000

Compared to Country Y, Country X has a comparative advantage in producing computers. Country Y has a

Answers

When a country or organization is able to produce a certain good or service at a lower opportunity cost than competitors, such country organization is said to have a comparative advantage on such product.

1.)

Hence, the best way to both countries can take advantage of the situation is for countries X and Y to specialize in that good in which it has comparative advantage, then trade with one another.

2.)

Since the Japanese yen has appreciated over the dollar, then, the beneficiaries would be ;

Japanese importers of goods from the United StatesJapanese tourists visiting the United States

These is because they could get more with less.

3.)

Total cost of goods = 10,000 yen

100 yen = $1

10000 yen = x

Cross multiply

100x = 10000

x = 10000 ÷ 100

x = 100

Hence, Ethan has spent $100

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Which Airlines lounges are the best ?

Answers

1. Air France first class lounge Paris (CDG)
Reason:
Air France’s first class is the whole package. Not only does Air France offer one of the world’s best first class inflight products, but the carrier’s ground experience in Paris is equally impressive.

If you’re connecting in Paris, you’ll be picked up at your plane and driven to the first class lounge, and then later on will be driven from the first class lounge to your connecting flight.


There’s so much to love about the Air France first class lounge, though my favorite thing is probably the restaurant, which has an Alain Ducasse menu. In my experience it’s the best food offered in any airline lounge in the world. It’s not just that the food quality is excellent, but the service and presentation are equally good.
Hopefully this helps!

Answer:

Air France La Première Lounge, Paris is the first best Airline lounge in the World.

Explanation:

The Air France La Première Lounge gives its customer one of the fashionable flying experiences in the world, as it includes freshening up the cozy cocktail bar to be brighter and more inviting, adding semi-private relaxation areas and installing new pieces of art.

In addition to having one of the best first class inflight experiences available, Air France also provides an outstanding ground experience in Paris. Best food is also offered at the restaurant there.

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A reality of living in a risk society is that:____________

a. social justice is, in fact, dispensed equally across all citizen groups, irrespective of ethnicity, income level, or other factors.
b. incomes are regulated by government policy to ensure equality across professions and worker class.
c. laws cannot be enacted to regulate corporations' adherence to accounting rules.
d. currency exchange rates are set by the Caux Principles.
e. the creation and distribution of wealth generate by-products that can cause injury, loss, or danger to people and the environment.

Answers

Answer:

e

Explanation:

This is the type of income that reflects what you earn after taxes

Answers

Answer:

net income

(NIAT)

Explanation:

Which of the following are true?
A. The data in D3 is skewed right.
B. Three quarters of the data values for D2 are greater than the median value for D1 .
C. At least three quarters of the data values in D1 are less than all of the data values in D2 .
D. At least a quarter of the data values in D2 are less than all of the data values in D3 .
E. At least a quarter of the data values for D3 are less than the median value for D2 .
F. The median value for D1 is less than the median value for D3

Answers

Answer:

A. The data in D3 is skewed right.B. Three quarters of the data values for D2 are greater than the median value for D1 .E. At least a quarter of the data values for D3 are less than the median value for D2 .

Explanation:

A Box Plot can be interpreted as follows;

The first point on the line is the minimum value.

The first end of the box is the First Quartile of the data range.

The next line is the Median.

The last end of the box is the Third Quartile.

The last point on the line is the maximum value.

Most of D3 lies on the right side of Median so it is skewed right.

The First Quartile of D2 is more than the Median of D1 which means that 3 quarters of D2 (first quartile to the maximum value) are greater than the median of D1.

D2's Median value is greater than the Third Quartile of D3 which means that more than just a quarter of D3 falls below D2's Median so option E is correct.

Which of the following are true? A. The data in D3 is skewed right. B. Three quarters of the data values

The true statements are

A. The data in D3 is skewed right.

B. Three quarters of the data values for D2 are greater than the median value for D1 .

E. At least a quarter of the data values for D3 are less than the median value for D2 .

The following information should be considered:

A Box Plot can be interpreted as follows;

The first point on the line is the minimum value.The first end of the box is the First Quartile of the data range.The next line is the Median.The last end of the box is the Third Quartile.The last point on the line is the maximum value.Most of D3 lies on the right side of Median so it is skewed right.The First Quartile of D2 is more than the Median of D1 that represent 3 quarters of D2 are greater than the median of D1.D2's Median value more than the Third Quartile of D3 which means that more than just a quarter of D3 falls below D2's Median.

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Example of Coping StrategiesYou have an employee who copes with stressful problems by burying his head in the sand and pretending the problem does not exist. You are concerned this approach just delays the inevitable and want him to cope in a way that better addresses the problem head on. Which of the following would be a problem-focused coping strategy?A. Join a support group.B. Adopt a "glass is half full not empty" mentality.C. Hit a punching bag to release the frustration.D. Ask a coworker to help lighten the load.

Answers

Answer:

Coping Strategies

The problem-focused coping strategy would be:

D. Ask a coworker to help lighten the load.

Explanation:

By asking a coworker to lighten the load, the worker has practically admitted that a problem exists and needs to be solved.  The other listed coping strategies merely postpone the evil day when reality will dawn.  Adopting a "glass is half-full not empty" mentality and "hitting a punching bag to release the frustration" sound pretentious. They do not tackle the problem.

What is an example of a 'Sunk cost" ? *

A the price of food when cooking a meal

B. the price of a video game when buying a birthday present

C. the price of last month's car repairs when getting your car fixed

D the price of college when getting a job​

Answers

Answer:

C. the price of last month's car repairs when getting your car fixed.

Explanation:

The correct option is - C. the price of last month's car repairs when getting your car fixed.

Reason -

A sunk cost is a past cost that you can’t recover.

Solutions Company - Unadjusted Trial Balance as of December 31.
Account Titles
Unadjusted Trial Balance Dr. Unadjusted Trial Balance Cr.
100: Cash 20,000
110: Accounts Receivable 0
120: Supplies 7,600
160: Machinery 50,000
161: Accumulated Depreciation 20,000
200: Accounts Payable 0
205: Interest Payable 0
210: Wages Payable 0
230: Unearned Rental Fees 7,200
240: Note Payable 30,000
300: Common Stock 10,000
310: Dividends 9,500
320: Retained Earnings 14,200
400: Rental Fees 32,450
600: Wage Expense 24,500
610: Interest Expense 2,250
620: Supplies Expense 0
630: Depreciation Expense 0
113,850 113,850
Totals


Requirement:

Prepare year-end adjusting journal entries for each of these separate situations.

As of December 31, employees had earned $400 of unpaid and unrecorded wages. The next payday is January 4 at which time $1,200 in wages will be paid.
The cost of supplies still available at December 31 is $3,450.
The notes payable requires an interest payment to be made every three months. The next payment occurs after the new year begins. The amount of unrecorded accrued interest at December 31 is $800.
Analysis of the unearned rental fees shows that $3,200 remains unearned at December 31.
In addition to the machinery rental fees included in the revenue account balance, the company has earned another $2,450 in unrecorded fee that will be collected on January 31 of next year.
Depreciation expense for the year is $3,800.

Answers

The Preparing Adjusted Trial Balance with the help of Worksheet: is given below:

The Adjusted Trial Balance

Solutions Company

Worksheet

December 31

Accounts Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance

Debit Credit Debit Credit Debit Credit

Cash $20,000    $20,000

Accounts Receivable 0  $2,450  2,450

Supplies 7,600   $4,150 3,450

Machinery 50,000    50,000

Accumulated Depreciation  $20,000  3,800  $23,800

Accounts Payable  0    0

Interest Payable  0  800  800

Salaries Payable  0  400  400

Unearned Rental Fees  7,200 4,000   3,200

Note Payable  30,000    30,000

Common Stock  10,000    10,000

Dividends 9,500   9,500

Retained Earnings  14,200    14,200

Rental Fees  32,450  6,450  38,900

Salaries Expense 24,500  400  24,900

Interest Expense 2,250  800  3,050

Supplies Expense 0  4,150  4,150

Depreciation Expense 0  3,800  3,800

Totals $113,850 $113,850 $15,600 $15,600 $121,300 $121,300

Preparing Income Statement:-

Solutions Company

Income Statement

For the Year Ended December 31

Accounts Amount Amount

Revenue:-  

Rental Fees $38,900

Total Revenue  $38,900

Expenses:-  

Salaries Expense $24,900

Interest Expense 3,050

Supplies Expense 4,150

Depreciation Expense 3,800

Total Expenses  ($35,900)

Net Income  $3,000

Preparing Statement of Retained Earnings:-

Solutions Company

Statement of Retained Earnings

For the Year Ended December 31

Accounts Amount

Retained Earnings 14,200

Net Income 3,000

$17,200

Dividends (9,500)

Retained Earnings, Ending $7,700

Preparing Balance Sheet:-

Solutions Company

Balance Sheet

December 31

Accounts Amount Amount

Assets:-  

Cash $20,000

Accounts Receivable 2,450

Supplies 3,450

Machinery 50,000

Accumulated Depreciation (23,800)

Total Assets  $52,100

Liabilities:-  

Accounts Payable $0

Interest Payable 800

Salaries Payable 400

Unearned Rental Fees 3,200

Note Payable 30,000

Total Liabilities  $34,400

Stockholders Equity:-  

Common Stock $10,000

Retained Earnings, Ending 7,700

Total Stockholders Equity  $17,700

Total Liabilities and Stockholders Equity  $52,100

Preparing Closing Entries:-

Solutions Company

General Journal

December 31

Date Accounts Title and Explanation Debit Credit

December 31 Rental Fees $38,900

Income Summary  $38,900

(To close Revenue Account)  

December 31 Income Summary $35,900

Salaries Expense  $24,900

Interest Expense  $3,050

Supplies Expense  $4,150

Depreciation Expense  $3,800

(To close Expenses Accounts)  

December 31 Income Summary $3,000

Retained Earnings  $3,000

(To close Income Summary)  

December 31 Retained Earnings $9,500

Dividends  $9,500

(To close Dividends Account)

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A Market share is usually stated as a

Answers

Answer:

stock

Explanation:

a stock is a a share of a company

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