1. The adjusting entry for uncollectible accounts on December 31, 2021 would be:
Date | General Journal | Debit | Credit
--- | --- | --- | ---
December 31, 2021 | Bad Debt Expense | $12,500 |
| Allowance for Uncollectible Accounts | | $12,500
This entry is made because Pave Construction estimates that 25% of the uncollected accounts ($50,000) will be uncollectible accounts, which is $12,500.
2-a. The write-off of accounts receivable in 2022 would be:
Date | General Journal | Debit | Credit
--- | --- | --- | ---
December 31, 2022 | Allowance for Uncollectible Accounts | $10,000 |
| Accounts Receivable | | $10,000
This entry is made to write off the uncollectible accounts of $10,000.
2-b. The balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022) would be:
Beginning Balance in 2022: $12,500 (from the adjusting entry in 2021)
Less: Write-off of accounts receivable in 2022: $10,000
Ending Balance in 2022: $2,500
3-a. The write-off of accounts receivable in 2022 if the actual write-offs were $15,000 would be:
Date | General Journal | Debit | Credit
--- | --- | --- | ---
December 31, 2022 | Allowance for Uncollectible Accounts | $15,000 |
| Accounts Receivable | | $15,000
This entry is made to write off the uncollectible accounts of $15,000.
3-b. The balance of Allowance for Uncollectible Accounts at the end of 2022 (before adjustment in 2022) if the actual write-offs were $15,000 would be:
Beginning Balance in 2022: $12,500 (from the adjusting entry in 2021)
Less: Write-off of accounts receivable in 2022: $15,000
Ending Balance in 2022: ($2,500)
The ending balance is a negative amount because the actual write-offs were more than the estimated amount.
Know more about uncollectible accounts here:
https://brainly.com/question/13752118
#SPJ11
From the 10 skills, choose two skills you want to focus on improving. You can use the two skills you wrote about for the Week 2 Assignment, Employability Skills and the Future of Work, or any two new skills from the 10 skills. The two skills you chose will be used to complete the rest of this template.
Two of the 10 skills listed in the World Economic Forum's Future of Jobs report that people may want to focus on improving are:
analysis and critical thinkingemotional intelligenceOne skill that people may want to focus on improving is analysis and critical thinking. Improving analytical and critical thinking skills involves developing the ability to identify and evaluate arguments, recognize biases, and make logical connections between ideas.
Another skill that people may want to focus on improving is emotional intelligence. Emotional intelligence involves the ability to understand and manage one's own emotions, as well as the emotions of others. It includes skills such as empathy, self-awareness, and social awareness.
Learn more about skills:
https://brainly.com/question/25645043
#SPJ11
What accounting treatment is given to the following costs
under SE: acquisition costs, exploration costs, development costs,
and production costs (oil and gas) ?
Acquisition costs are typically capitalized and expensed over the life of the asset.
Under SE, the accounting treatment given to exploration costs is as follows:
Accounting treatment for the following costs under SE:
Exploration costs: Exploration costs are treated as capital expenses and included in the cost of oil and gas properties acquired. Exploration expenses, on the other hand, are recognized in the profit and loss account.Development costs: Development costs are typically capitalized and included in the cost of oil and gas properties.Production costs: Production costs are treated as expenses and included in the profit and loss account, and they include the costs of labor, materials, and overheads related to the production process.Acquisition costs: Acquisition costs, also known as goodwill, are recognized as intangible assets, and they are capitalized and amortized over their useful life.Learn more about accounting treatment at https://brainly.com/question/26690519
#SPJ11
Employees who are strongly power-motivated are driven
Options:
1. to complete tasks regardless of others involvement.
2. to complete tasks that are personally meaningful to them.
3. to influence, teach, or encourage others.
4. to create and maintain social relationships.
Option 3 is correct. Employees who are strongly power-motivated are driven to influence, teach, or encourage others.
Power motivation is the craving to affect others, to influence their way of behaving or feelings. This expansive and general definition incorporates an entire group of covering ideas like impact, motivation, nurturance, authority, initiative, control, predominance, pressure, and hostility. Albeit these ideas have differing implications of authenticity, ethical quality, and suggested response of the other individual (the "focus" of force), they share the central importance of one individual's ability to influence the way of behaving or sensations of someone else.
Know more about Power motivation - https://brainly.com/question/24839396
#SPJ1
wember catering uses two measures of activity, jobs and meals, in the cost formulas in its budgets and performance reports. the cost formula for catering supplies is $550 per month plus $82 per job plus $10 per meal. a typical job involves serving a number of meals to guests at a corporate function or at a host's home. the company expected its activity in september to be 25 jobs and 144 meals, but the actual activity was 21 jobs and 141 meals. the actual cost for catering supplies in september was $3,630. the catering supplies in the planning budget for september would be closest to: multiple choice $3,682 $4,180 $3,630 $4,040
The expected cost for catering supplies in September was $3,682, which is closest to the actual cost of $3,630.
This can be calculated using the cost formula of $550 per month plus $82 per job plus $10 per meal. The expected activity was 25 jobs and 144 meals, but the actual activity was 21 jobs and 141 meals.
Therefore, the expected cost would be calculated as $550 + (25 x $82) + (144 x $10) = $3,682. However, the actual cost was $550 + (21 x $82) + (141 x $10) = $3,630.
Therefore, the expected cost for catering supplies in September was $3,682, which is closest to the actual cost of $3,630.
To know more about expected cost click on below link:
https://brainly.com/question/30531098#
#SPJ11
Through efficient logistics at grasshopper grocers, the stock in the stores is automatically replenished when the company receives an alert from customers that their stock is low. Management at grasshopper grocers uses a just-in-time (jit) inventory system. True or False
Management at grasshopper grocers uses a just-in-time (jit) inventory system. This statement is false.
A lean manufacturing technique known as the just-in-time (JIT) inventory system tries to reduce inventory levels by creating or purchasing goods just as needed.
When the business receives notification from clients that their stock is low in the scenario, the inventory is automatically restocked. This shows that the business is keeping a certain amount of safety stock to satisfy client demand, which is inconsistent with the JIT strategy.
The description supplied does not seem to be an example of a pure JIT inventory system, while it is feasible that Grasshopper Grocers has other components of a lean management strategy in place, such as decreasing waste and improving efficiency in their logistics operations.
To know more about inventory, visit:
https://brainly.com/question/24868116
#SPJ4
Suppose you are currently employed as an assistant coach on a college track and field team and earn an hourly wage of $22. One night you decide to miss an optional one-hour practice and go to the bowling alley instead, which costs $14. The total dollar cost of missing work and going to the bowling alley, including the opportunity cost of your time, is
When you factor in the investment return of your time, the overall cost of skipping work to go bowling is $36 .($22+$14)
What does the term "opportunity cost" mean?The potential cost is the amount of time spent learning and the money that could be used elsewhere. When a farmer decides to grow wheat, there is an opportunity cost associated with not doing so or using the resources in another way (land , farm equipment). Instead of driving, a passenger takes a train to their place of employment. Opportunity cost is the value of other commodities or services you must forgo in order to get your desired item. The term "cost" as used by economists typically refers to opportunity cost. Using the word "cost" in everyday discourse or the news is prevalent.
To know more about Opportunity cost visit:
https://brainly.com/question/13036997
#SPJ1
Currently, the interest rate for a 10-year bond issued by Ford is 7.57%, and the interest rate for a 10-year bond issued by General Motors is 6.42%. The liquidity risk premium for Ford is 0.42%, whereas the liquidity risk premium for General Motors is 0.31%. What is the difference in the default risk premium between Ford and General Motors?
these differences 2% separates two defalut risk premiums.
What is and how is the defalut risk premium calculated?The default risk premium, which can be mathematically defined as the difference between the interest rates payable on bonds and a risk-free rate of return, is an additional amount of interest rates paid by a borrower to a lender or investor as compensation for the higher credit risk of the borrower assuming his failure to pay back the principal amount in the future.
In the event that the borrower fails on their obligation, the default risk premium (DRP) serves as a restitution payment to investors or lenders. DRP is frequently appropriate when dealing with bonds.
rd = r* +IP + MRP + DRP + LP is the formula.
so in the first case the DRP will be 2%
and in the second case DRP will be 0% so the difference will be 2%-0%= 2%
to know about defalut risk premium visit:
https://brainly.com/question/28235630
#SPJ1
The accounting equation for Quattro Enterprises is as follows:
Assets Liabilities Stockholders' Equity
$120,000 = $60,000 + $60,000
If Quattro purchases office equipment on account for $25,000, the accounting equation will change to
Assets Liabilties Stockholders' Equity
a. $120,000 = $60,000 + $60,000
b. $145,000 = $60,000 + $85,000
c. $145,000 = $72,500 + $72,500
d. $145,000 = $85,000 + $60,000
The accounting equation for Quattro Enterprises is as follows: Assets = Liabilities + Stockholders' Equity ($120,000 = $60,000 + $60,000).
After Quattro purchases office equipment on account for $25,000, the accounting equation will change to $145,000 = $60,000 + $85,000.
Therefore, the accounting equation for Quattro Enterprises after they purchase office equipment on account for $25,000 is: Assets = Liabilities + Stockholders' Equity ($145,000 = $60,000 + $85,000).
To learn more about assets, refer below:
https://brainly.com/question/13848560
#SPJ11
jessica sold the shares of a company, of which her sister-in-law was the ceo, just a short while before the company filed for bankruptcy. jessica used information about the company that was not public knowledge to save her from the loss. due to the drastic fall in the market value of the company, however, the general public that had invested in the company suffered huge losses. what type of a fraudulent crime does this scenario best illustrate?
A few months before the company filed for bankruptcy, James sold the shares of the business where his brother-in-law was the CEO.
What is the most important thing that determines the worth of a firm quizlet?Terms in this set (116) (116) The historical earnings and dividends of a stock are the most significant elements affecting its current price. Sales growth and net profit margin hold the key to a company's future behavior. High dividend payout ratios are frequently found in businesses with high P/E ratios.
What are the top five business success factors, and why are they crucial?Strategic focus, people, operations, marketing, and finance are the five essential success factors that aid businesses in choosing their long-term success strategy. On the other side, crucial success elements are the actions a business must take to accomplish a task.
To know more about company visit:-
https://brainly.com/question/30581412
#SPJ1
In a single-factor model (with a market index factor with
return, rm), you calculate that β= 1, σ2m = 20% and σ2(εa) = 5%.
What is the R-squared?
In a single-factor model (with a market index factor with return, rm), you calculate that β= 1, σ2m = 20% and σ2(εa) = 5%. The R-squared can be calculated by using the given data. What is the single-factor model? A single-factor model is a model that is used to calculate the relationship between a particular security's or portfolio's returns and the returns of the overall market.
A single-factor model is utilized to account for systematic risk, which is caused by market wide variables that influence most or all securities in the market. Systematic risk cannot be reduced through diversification or other investment strategies. R-squared is the ratio of the explained variation to the total variation of the dependent variable.
It represents the percentage of the variation in the dependent variable that is explained by the independent variables. What is the R-squared? To calculate the R-squared, we will use the following formula:R2 = β2σ2m / (β2σ2m + σ2(εa))R2 = 12(20%) / [12(20%) + 5%]R2 = 20 / 25R2 = 0.8
The R-squared in the single-factor model is 0.8, as determined using the given data. The R-squared value indicates that 80% of the variance in the security's or portfolio's returns is accounted for by the market index factor.
To know more about single-factor model refer here:
https://brainly.com/question/26761860#
#SPJ11
"Use the following information:
Net sales
$205,000
Cost of goods sold
144,000
Beginning inventory
46,000
Ending inventory
36,000
a. Calculate the inventory turnover ratio. (Round your answer to 1 decimal place.) Inventory turnover ratio times b. Calculate the average days in inventory. (Assume 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) Average days in inventory days c. Calculate the gross profit ratio. (Round your answer to 2 decimal place.) Gross profit ratio
A. Calculation of inventory turnover ratio:
To calculate the inventory turnover ratio, we use the following formula:
Inventory turnover ratio = cost of goods sold / average inventory
Average inventory = (beginning inventory + ending inventory) / 2
Now we have all the information required to compute inventory turnover ratio.
I.T.R. = 144000 / ((46000+36000)/2) = 144000 / 41000 = 3.51.
B. Calculation of average days in inventory:
To calculate the average days in inventory, we use the following formula:
Average days in inventory = 365 / inventory turnover ratio
Again, we have all the information we need to calculate average days in inventory.
A.D.I. = 365 / I.T.R. = 365 / 3.51 = 103.849 or 103.9 days, which we round to the nearest tenth.
C. Calculation of gross profit ratio:
The gross profit ratio is calculated as follows:
Gross profit ratio = (Net sales - Cost of goods sold) / Net sales
We can substitute all the values that we know into the formula.
G.P.R. = (205000 - 144000) / 205000 = 61000 / 205000 = 0.297 or 0.30, which we round to the nearest hundredth.
Therefore, the inventory turnover ratio is 3.51, the average days in inventory is 103.9 days, and the gross profit ratio is 0.30.
To learn more about inventory turnover ratio, refer below:
https://brainly.com/question/30030274
#SPJ11
Think about one of the items you own and trace the global value
chain for that item. (minimum of 7 sentences)
One of the items that I own is a pair of Adidas sneakers. As far as I know, the global value chain is as written below.
The global value chain for Adidas shoes can be traced as follows:
Raw materials: Adidas sources the raw materials for their sneakers from various countries around the world. The leather for the upper part of the shoes comes from Italy, while the rubber for the soles comes from Malaysia.Manufacturing: The shoes are manufactured in factories in China, Vietnam, and Indonesia. These factories are owned by Adidas or are contracted to produce their products. Logistics: After the shoes are manufactured, they are transported to regional distribution centers around the world. From there, they are sent to retail stores where customers can purchase them. Retail: Adidas has retail stores in countries all around the world. In addition to their own stores, they also sell their products through third-party retailers such as Foot Locker and JD Sports. Consumer: Finally, the shoes are purchased by consumers and worn around the world. Some consumers may even resell the shoes to others, creating a secondary market for the product.In conclusion, the global value chain for my Adidas sneakers involves raw materials from Italy and Malaysia, manufacturing in China, Vietnam, and Indonesia, distribution to retail stores worldwide, and ultimately purchase and use by consumers.
Learn more about value chain at https://brainly.com/question/1380316
#SPJ11
Malaika Ltd buys and sells product Q-3. It values sock on the basis of last in first out (LIFO). At 1 June 2021, stock in hand consisted of 4,500 units which were acquired at Sh.50 per unit. The operations for the month were as follows:The company incurred operating costs of Sh 450,000 during the month.Required:Stores ledger card Closing stock valuation
Using LIFO, the closing stock valuation for Malaika Ltd using LIFO is Sh.225,000.
What is the closing stock valuation?To calculate the closing stock valuation using LIFO, we assume that the most recently purchased inventory is sold first, and the older inventory remains in stock.
Given that Malaika Ltd acquired 4,500 units of product Q-3 at Sh.50 per unit, we can calculate the cost of goods sold (COGS) and the value of the closing stock as follows:
COGS = (number of units sold) x (cost per unit)Value of closing stock = (number of units remaining) x (cost per unit)Since we do not have any information about the number of units sold during the month, we cannot calculate the COGS. However, we can calculate the value of the closing stock using LIFO.
During the month, Malaika Ltd did not purchase any additional inventory, but it incurred operating costs of Sh.450,000. These operating costs are unrelated to the inventory and should not be included in the valuation of the closing stock.
To calculate the value of the closing stock, we need to determine the cost per unit of the most recently purchased inventory. Since we are using LIFO, we assume that the 4,500 units purchased on 1 June 2021 are the oldest inventory remaining in stock.
Thus, the value of the closing stock is:
Value of closing stock = (number of units remaining) x (cost per unit)
= 4,500 x Sh.50
= Sh.225,000
Learn more on LIFO here;
https://brainly.com/question/28164575
https://brainly.com/question/12948242
#SPJ1
Would it make sense to buy a house when mortgages rates are 14% and expected inflation is 15%? Explain your answer. (Even though the nominal rate for the mortgage appears high, the real cost of borrowing the funds is the difference between the two rates (14%-15%= -1%) So yes, under this circumstance it would be reasonable to make this purchase [explain why…explain how the inflation works and how the interest rates in mortgages really affects our decisions)
Answer: The nominal rate of mortgage (14%) is high, but when it is compared to expected inflation (15%), it is lower, which in turn makes the real or effective borrowing cost negative (-1%).
BMX Company has one employee. FICA Social Security taxes are 6. 2% of the first $128,400 paid to its employees, and FICA Medicare taxes are 1. 45% of gross pay. For BMX, its FUTA taxes are 0. 6% and SUTA taxes are 5. 4% of the first $7,000 paid to its employee.
Gross Pay through August 31 Gross Pay for September
A $5,100 $2,200
B 2,300 2,400
C 122,700 8,600
Compute BMX’s amounts for each of these four taxes as applied to the employee’s gross earnings for September under each of three separate situations A, B, and C. (Round your answers to 2 decimal places. Leave no cells blank. )
A. BMX tax in situation A is = $282.3
B. Then BMX tax in situation B is = $327.6
C. BMX tax in situation C is = $1600.4
Taxes on Social Security are calculated
Provided that, in response to the query
the first $128,400 when the FICA Social Security equals 6.2%
FICA Medicare then equals 1.45% of gross pay.
FUTA = 0.6% as well.
SUTA then equals 5.4% of the initial $7,000 paid.
At this time, gross pay through August 31 - gross pay for September
A - $2,200
B - $2,400
C - $8600
For example, A.
When the FICA is calculated, the tax rate is multiplied by the relevant sum.
Following that, $2,200 *.062 = $136.4 in FICA social security tax.
Medicare FICA:
Then, $2,200 * .0145 = $31.90
The extra amount is multiplied by the appropriate tax rate to determine FUTA and SUTA.
FUTA levies:
($7,000 - $5,100) * .006 = $11.40
SUTA fees
($7,000 - $5,100) * .054 = $102.60
Situation A's BMX tax is $136.4 plus $31.90 plus $11.40 plus $102.60.
BMX Tax therefore equals $282.3.
For example, B
Because the employee has not yet earned $7,000 in compensation, the gross pay is multiplied by the applicable tax rate in this instance. FICA social security tax:
Now, $2,400 * .062 = $148.8
Medicare FICA:
Again, $2,400 * .0145 = $34.80
FUTA levies:
$2,400 * .006 = $14.40
SUTA fees
$2,400 * .054 = $129.6
Situation B's BMX tax is $148.8 plus $34.80 plus $14.40 plus $129.6.
BMX Tax so equals $327.6.
For example, C
As $128,400 is the maximum amount of salaries due to social security tax, the FICA social security tax is determined by:
Then, ($128,400 - $122,700) * .062 = $353.40
Medicare FICA:
Following that, $8,600 *.0145 equals $1247.00.
Taxes for BMX total $353.40 plus $1247.00, or $1600.4
For such more question on BMX tax:
https://brainly.com/question/15897368
#SPJ11
you can afford only the minimum payment of $60 per quarter. the interest rate on the credit card is 18 per year compounded quarterly. how many years will you need to pay off the $1,000?
It will take you approximately 10 years to pay off the $1,000 with the given information.
To calculate the time it will take to pay off the $1,000 with a minimum payment of $60 per quarter and an interest rate of 18% per year compounded quarterly, we can use the formula
P = A/(1-(1+r)^(-n)), where P is the payment, A is the principal (in this case $1,000), r is the interest rate (in this case 0.18/4), and n is the number of payments (in this case 40). Solving for n, we get n = 10.
This means it will take you 10 years to pay off the $1,000 with the given information.
To know more about interest rate click on below link:
https://brainly.com/question/13324776#
#SPJ11
By this point in the reading of The Goal, you should
have been introduced to Herbie and the problems that Herbies (or
bottlenecks) can cause. The problem of a bottleneck seems clear in
the manufacturing process, especially when described as it was in The Goal. However, bottlenecks can occur in all facets of life. In fact, anything that can be considered a process inevitably has the probability of having a bottleneck.
For your Original Post, I would like for you to think of possible bottlenecks that have occurred in your life or that you know of that have occurred in the life of someone you know. The bottleneck could have occurred at work, at home, at school, in the community, in your family, etc. It doesn't matter where the bottleneck occurred; however, I do want to know ABOUT the bottleneck. Describe the situation / scenario and state what you feel is the bottleneck. Lastly, describe why you think the bottleneck is actually a bottleneck. DO NOT post anything on how you would or did resolve the bottleneck. I just want to know that you can recognize a bottleneck.
Let's say a group of five people is working on a project, and each member is responsible for a specific task that needs to be completed before the project can be finished. One member, let's call him John, is responsible for the most critical task, which is required to complete the project.
John is an expert in his field, and his work is vital to the project's success. However, he is overwhelmed with work and has multiple projects to complete, and he's unable to complete his task on time, which is causing delays in the entire project. As a result, the other team members are sitting idle, waiting for John to finish his work, and they can't move forward with their tasks until John's task is completed.
In this scenario, John is the bottleneck, and his inability to complete his task on time is causing delays and preventing the project from moving forward. The reason why John is a bottleneck is that his task is critical, and without it, the project cannot be completed. Therefore, if he is unable to complete his task on time, it will cause a delay in the entire project.
Learn more about critical tasks
https://brainly.com/question/29898854
#SPJ11
A bona fide occupational qualification is one that:
a. Is required for the job
b. Prohibited by the EEOC
c. Exempts an employee from workers compensation
d. Stipulates accommodations for religious beliefs
A bona fide occupational qualification is one that is required for the job. Therefore, the correct option is A.
A bona fide occupational qualification, or BFOQ, is a defense that an employer may use in cases of discrimination. It is a requirement that is related to the job that is being performed.There are specific types of jobs that may require a particular gender, race, or religion, and the employer must comply with all relevant legislation. BFOQs are an exception to the discrimination rule, but they must be demonstrated to be essential for the job's function.
For instance, it is illegal for a restaurant to refuse to hire male waiters, but it is permitted to hire only female waiters if the business's theme is that of a '50s-style diner that exclusively employs female waitresses.For example, a hospital may require that its employees be vaccinated against the flu, and this would be considered a BFOQ since it is necessary to safeguard patients from illnesses. A BFOQ will protect employers from discrimination claims if it is necessary for the position and does not unjustly exclude an entire group of individuals from work.
Hence, the correct option is A.
Learn more about BFOQ:
https://brainly.com/question/31052548
#SPJ11
Pina Colada Hardware Store Inc. completed the following merchandising transactions in the month of May 2018 . At the beginning of May, Pina Colada's ledger showed Cash of $8,800 and Common Shares of $8,800. May 1) Purchased merchandise on account from Hilton Wholesale Supply for $8,800, terms 2/10,n/30. 2 2) Sold merchandise on account for $4,400, terms 3/10,n/30. The cost of the merchandise sold was $3,030. 5) Received credit from Hilton Wholesale Supply for merchandise returned $300. 9) Received collections in full, less discounts, from customers billed on May 2. 10) Paid Hilton Wholesale Supply in full, less discount. 11) Purchased supplies for cash $810. 12) Purchased merchandise for cash $2,430. 15) Received $260 refund for return of poor-quality merchandise from supplier on cash purchase. 17) Purchased merchandise from Northern Distributors for $2,300, terms 2/10,n/30. 19) Paid freight on May 17 purchase $270. 24) Sold merchandise for cash $5,570. The cost of the merchandise sold was $4,260. 25) Purchased merchandise from Toolware Inc. for $780, terms 3/10,n/30. 27) Paid Northern Distributors in fuli, less discount. 29) Made refunds to cash customers for returned merchandise $140. The returned merchandise was returned to inventory and had cost $90.
In the Inventory, on the 31st of May, the total balance was $5,684
The Accounting Information for Pina Colada Hardware Store Inc.Cash:
Bal. 5/1: $8,800
5/9: $4,268
5/10: $8,330
5/11: $810
5/12: $2,430
5/15: $260
5/19: $270
5/24: $5,570
5/27: $2,254
5/29: $140
Bal. 5/31: $4,664
Accounts Receivable:Bal. 5/1: $0
5/2: $4,400
5/9: $4,400
5/31: $1,390
Bal. 5/31: $1,390
Inventory:Bal. 5/1: $0
5/1: $8,800
5/2: $3,030
5/5: $300
5/10: $170
5/12: $2,430
5/15: $260
5/17: $2,300
5/19: $270
5/24: $4,260
5/25: $780
5/29: $90
5/31: $920
Bal. 5/31: $5,684
Supplies:Bal. 5/1: $0
5/11: $810
Bal. 5/31: $810
Accounts Payable:Bal. 5/1: $0
5/1: $8,800
5/5: $300
5/10: $8,500
5/17: $2,300
5/25: $780
5/27: $2,300
Bal. 5/31: $780
Common Stock:Bal. 5/1: $8,800
Bal. 5/31: $8,800
Sales:5/2: $4,400
5/24: $5,570
5/31: $1,390
Bal. 5/31: $11,360
Sales Returns and Allowances:5/29: $140
Bal. 5/29: $140
Sales Discounts:
5/9: $132
Total: $132
Cost of Goods Sold:
5/2: $3,030
5/24: $4,260
5/29: $90
5/31: $920
Bal. 5/31: $8,120
Read more about accounting here:
https://brainly.com/question/26690519
#SPJ1
Question 1: you need to identify the alignment between the two mission statements [100 points).
HCT mission is to provide applied higher education to equip generations with knowledge, skills and competencies that meet international standards and the future needs of the UAE industry and society.
The Faculty of Engineering Technology and Science mission is to provide world class engineering programs empowering graduates with the desire for learning, discovery and innovation, and provide highly competent technologists and engineers to meet present and future industry needs nationally and globally. The reputation and academic integrity of Engineering Technology and Science programs at HCT.
The alignment between the two mission statements is that both mission aims to provide quality education to the students in order to prepare them to fulfill the future industry and societal needs.
To identify the alignment between the two mission statements of HCT and the Faculty of Engineering Technology and Science, we need to analyze the similarities and differences between them. Let's start with the similarities between these two statements:
Both mission statements are focused on providing education to students.They aim to equip the students with the necessary knowledge, skills, and competencies.Both are looking forward to meeting the needs of the industry and society.Both want to create highly competent technologists and engineers to meet present and future industry needs nationally and globally.Both are focused on providing education that meets international standards.Now, let's discuss the differences between the two mission statements:
HCT's mission statement is broader and covers all fields, whereas the Faculty of Engineering Technology and Science's mission statement is more specific and focused on engineering programs.The Faculty of Engineering Technology and Science's mission statement emphasizes the reputation and academic integrity of their programs, while HCT's mission statement does not.Therefore, the alignment between these two mission statements is that both want to provide quality education to the students and prepare them to meet the future needs of the industry and society. Both are committed to meeting the international standards of education, but the Faculty of Engineering Technology and Science focuses more on the academic integrity of their programs.
Learn more about Mission statements:
https://brainly.com/question/30584584
#SPJ11
Suppose your expectations regarding the stock price are as follows: Use the equations E(r)=Sigma p(s) r(s) and sigma^{2}=Sigma p(s)[r(s)-E(r)]^{2} to compute the mean and standard deviation
The mean and standard deviation of the stock price are E(r)=$9.4 and sigma=$5.01, respectively.
To compute the mean and standard deviation using the given equations, you need to have the probabilities and possible returns of the stock price. Let's assume there are three possible prices: $10, $12, and -$5, with probabilities of 0.3, 0.5, and 0.2, respectively.
Using the equation E(r)=Sigma p(s) r(s), the expected return is: E(r) = 0.3 * 10 + 0.5 * 12 + 0.2 * (-5) = $9.4
Using the equation sigma^{2}=Sigma p(s)[r(s)-E(r)]^{2}, the variance is: sigma^{2} = (0.3*(10-9.4)^2 + 0.5*(12-9.4)^2 + 0.2*(-5-9.4)^2) = $25.14
Therefore, the standard deviation is: sigma = sqrt(sigma^{2}) = $5.01
So, the mean and standard deviation of the stock price are E(r)=$9.4 and sigma=$5.01, respectively.
Learn more about standard deviation
https://brainly.com/question/475676
#SPJ11
a firm does not pay a dividend. it is expected to pay its first dividend of $0.48 per share in three years. this dividend will grow at 14 percent indefinitely. use a 15 percent discount rate. compute the value of this stock.
The value of the stock is $48.
A firm does not pay a dividend. It is expected to pay its first dividend of $0.48 per share in three years. This dividend will grow at 14% indefinitely. We have to compute the value of this stock at a 15% discount rate.
What is the meaning of stock?
Stock is an equity security that represents ownership in a corporation. It is a type of security that denotes ownership in a company and represents a claim on part of the company’s assets and earnings. Stockholders are commonly known as shareholders.
How to calculate the value of this stock?
Here, it is given that the first dividend the company is expected to pay is $0.48 per share in three years. We can find the value of the stock using the formula for a constant growth rate:
V₀ = D₁ / (r - g)
where:
V₀ = Value of the stock today
D₁ = Value of the dividend in the first year
r = Discount rate
g = Growth rate
In this problem, D₁ = $0.48, r = 15%, and g = 14%.
V₀ = $0.48 / (0.15 - 0.14)
V₀ = $48
The value of the stock is $48.
To learn more about stock, refer below:
https://brainly.com/question/29992015
#SPJ11
A quote selected in a document that is enlarged and displayed in a strategic position is referred to as a(n)
A quοte selected in a dοcument that is enlarged and displayed in a strategic pοsitiοn is referred tο as a(n) pull quοte.
What is quοte?A quοte is a phrase οr a sentence that is taken frοm a bοοk, speech, οr οther published text. Quοtes are used tο illustrate a pοint, tο emphasize an οpiniοn, οr tο prοvide an example οf sοmething. Quοtes can alsο be used tο prοvide evidence fοr an argument οr tο suppοrt a claim.
Quοtes are οften used in writing and speeches tο add an air οf authοrity and credibility tο the speaker οr writer. Quοtes can alsο be used tο prοvide humοr οr tο prοvide a sense οf understanding tο a particular situatiοn.
To learn more about quote
https://brainly.com/question/25857058
#SPJ1
Complete question
Fill in the blanks,
A quote selected in a document that is enlarged and displayed in a strategic position is referred to as a(n) _________.
PR 14-2B Vertical analysis of income statement For 2016, Fielder Industries income statement expenditure of an additional
$40,000
for advertising. At the end of the that included the the president, is presented with the following condensing. At the end of the year, Leif Grando, Fielder industries inc. Instructions 1. Prepare a comparative income statement for the two-year period, presenting an analysis of each item in relationship to sales for each of the years. Round to one decimal place. 2. To the extent the data permit, comment on the significant relationships revealed by the vertical analysis prepared in (1).
This decrease in net income can be attributed to the additional $40,000 expenditure of advertising in 2016.
What is net income?Net income is a measure of a company's overall financial performance and is calculated by subtracting all expenses, including taxes, from total revenues. It is also known as the bottom line, net earnings, or simply profit.
Fielder Industries Inc.
Comparative Income Statement
For the Years Ended December 31, 2015 and 2016
2015 2016
Net Sales 100.0% 100.0%
Cost of Goods Sold 70.0% 70.0%
Gross Profit 30.0% 30.0%
Selling, General and Administrative Expenses 25.5% 25.5%
Advertising Expenses 4.5% 5.0%
Income from Operations 0.0% 0.5%
Other Income and Expenses 0.8% 0.7%
Net Income Before Tax 1.8% 1.2%
Income Tax Expense 0.6% 0.6%
Net Income 1.2% 0.6%
The vertical analysis of the income statement reveals that the cost of goods sold and selling, general and administrative expenses remain consistent between 2015 and 2016, at 70.0% and 25.5% respectively. However, advertising expenses increase from 4.5% to 5.0%, resulting in a decrease in income from operations from 0.0% in 2015 to 0.5% in 2016. Other income and expenses increase from 0.8% to 0.7%, resulting in a decrease in net income before tax from 1.8% to 1.2%. Finally, income tax expense remains consistent at 0.6%, leading to a decrease in net income from 1.2% to 0.6%. This decrease in net income can be attributed to the additional $40,000 expenditure of advertising in 2016.
To learn more about net income
https://brainly.com/question/28390284
#SPJ1
ABC Co. has an operating profit of
$240,000
. The company has 20,000 common shares outstanding and paid corporate taxes of
$57,600
. Interest expenses for the year were
$48,000
, preferred dividends paid were
$26,400
and a common dividend paid was
$30,000
. Calculate EPS and common dividend per share. [Show detailed calculation with the formula to get proper credit]
The EPS and Common dividend per share are $5.38 and $1.50 respectively.
ABC Co.'s Earnings Per Share (EPS) can be calculated by dividing the company's net income (which is operating profit minus taxes, interest and preferred dividends) by the number of outstanding shares.
Net Income = Operating Profit - Taxes - Interest - Preferred Dividends
Net income = $240,000 - $57,600 - $48,000 - $26,400 = $107,600
EPS = Net Income / Number of Outstanding Shares
EPS = $107,600 / 20,000 = $5.38
Common dividend per share is calculated by dividing the total common dividend paid by the number of outstanding shares.
Common Dividend Per Share = Common Dividend Paid / Number of Outstanding Shares
Common Dividend Per Share = $30,000 / 20,000 = $1.50
To know more about EPS and Common dividend, click on the link below:
https://brainly.com/question/14172766#
#SPJ11
A loss on sale of equipment for $2,000 is debited when a company sells equipment with a net book value of $45,000 for $43,000. True Fase
The statement "A loss on sale of equipment for $2,000 is debited when a company sells equipment with a net book value of $45,000 for $43,000" is True.
When a company sells an asset or equipment for less than its book value, it is known as a loss on the sale of the asset. The value of the asset sold (in this scenario, equipment) is compared to its net book value (NBV), which is the difference between the asset's value and the accumulated depreciation.
In the event that the asset is sold for less than the NBV, a loss is incurred. The loss on the sale of equipment is debited to reflect the loss in value. The amount debited is the difference between the sales price and the net book value, in this case $2,000. This entry lowers the company's profits for the year and reduces the value of the company's assets. The Journal Entry for the loss on the sale of equipment would be:
Debit Loss on Sale of Equipment $2,000CreditEquipment $45,000CreditAccumulated Depreciation $43,000The debit to Loss on Sale of Equipment account would reduce the net income (profit) and credit to the Equipment and Accumulated Depreciation accounts would reduce the carrying value of the equipment on the balance sheet.
You can read more about Depreciation at https://brainly.com/question/1203926
#SPJ11
hadi co., a technology firm, pays a hefty rent for its office space as it is set up in one of the best commercial areas of paris. in the given scenario, the rent paid by the firm for its office space is an example of .
An illustration of an operating expense is the rent that Hadi Co. paid for its office premises.
Which of the following belongs in an employee handbook?The employer's vision statement, equal employment opportunity statement, contractual disclaimer, at-will employment statement (where permitted), reason for employee handbook, and company history should all be covered in the employee handbook.
Why is it crucial for an employer to be explicit and concise with an employee regarding the grounds for immediate dismissal?Why is it vital for an employer to provide an employee clear expectations before terminating them immediately. So that the employer can provide the employee advice regarding how to enhance, the employee's performance.
To know more about expense visit:-
https://brainly.com/question/29842871
#SPJ1
this morning, you observe in the markets that the nominal interest rate is 6%, which includes inflation expectations of 4%. if inflation expectations go up by 1% and nominal interest rates go up by 1.5%, what is the resulting real interest rate?
The nominal interest rate is 6%, the inflation expectations are 4% (6% - 4%), and the increase in nominal interest rates is 1.5%, the real interest rate in this case would be 2.5%.
When we consider nominal interest rate, it is just a loan rate that is given to borrowers. Nominal interest rate does not factor in inflation, which is the general increase in prices of goods and services that takes place over time. However, when we factor in inflation, we get real interest rate. Real interest rate is the nominal interest rate minus the inflation rate. It shows the purchasing power of the interest rate. So, in order to get the resulting real interest rate, we will need to calculate the real interest rates before and after the change in inflation expectations and nominal interest rates.
Before change in inflation expectations and nominal interest rates:
Nominal interest rate = 6%; Inflation expectation = 4%;
Real interest rate = Nominal interest rate - Inflation expectation= 6% - 4%= 2%
After change in inflation expectations and nominal interest rates:
Nominal interest rate = 6% + 1.5% = 7.5%
Inflation expectation = 4% + 1% = 5%
Real interest rate = Nominal interest rate - Inflation expectation= 7.5% - 5%= 2.5%
Therefore, the resulting real interest rate after inflation expectations go up by 1% and nominal interest rates go up by 1.5% is 2.5%.
Learn more about "Nominal interest rate"; https://brainly.com/question/30401732
#SPJ11
ebenezer scrooge has just been elected the new president of christmasland. as his first action, he is thinking of introducing an excise (or commodity) tax on either santa hats or christmas lights. the demand and supply curves for both products are shown on the graphs. use the graphs to answer the questions. what would be the total deadweight loss of a $3 tax on santa hats?
Unfortunately, without the graphs mentioned in the prompt, it is not possible to provide a specific answer to the question about the total deadweight loss of a $3 tax on Santa hats.
However, in general, deadweight loss refers to the loss of economic efficiency that occurs when a tax or other market intervention causes a reduction in the quantity of goods or services traded. Deadweight loss is calculated as the difference between the consumer and producer surplus before and after the intervention.To calculate the deadweight loss of a tax on Santa hats, we would need to know the exact shape of the supply and demand curves, as well as the equilibrium quantity and price of Santa hats in the absence of the tax. From there, we could calculate the change in consumer and producer surplus resulting from the tax and use that to estimate the deadweight loss. while it is not possible to provide a specific answer without the necessary graphs, calculating deadweight loss requires an understanding of the supply and demand curves and the effects of the tax on consumer and producer surplus.
To learn more about tax click the link below:
brainly.com/question/13068167
#SPJ1
john quit his current job and has taken a new job for higher pay. the new job starts in two weeks. during the two weeks between jobs, john is unemployed. multiple choice question. frictionally permanently cyclically structurally
Frictional unemployment is the type of unemployment that occurs when a person is between jobs. This is the type of unemployment that John is experiencing, as he has quit his current job and is waiting for two weeks for his new job to start.
Frictional unemployment is a natural part of the job market and occurs when workers are transitioning between jobs, either voluntarily or involuntarily. It is a short-term phenomenon and does not last for long periods of time. Workers are typically able to find new employment quickly, as they often have the necessary skills and experience.
Frictional unemployment is a normal part of the economy and is usually not considered to be detrimental, as workers can usually find new jobs quickly. It can, however, be costly to workers in terms of lost wages and opportunities, and to the economy in terms of lost productivity.
Know more about Frictional unemployment here
https://brainly.com/question/13192140#
#SPJ11