Answer:
Apple's management style emphasized placing individuals in highly specific positions rather than being elevated based on tenure or experience alone. See how this management style, high levels of secrecy, and unrivaled attention to detail and customer experience elevated the brand.
Explanation:
Apple Company on its manufacturing processes of an iPhone, always it has to predict on demand, so that will only produce the required quantity
List all the economic activities involved in each of the following businesses:
•selling cotton shirts at a store
•selling hamburgers at a fast-food restaurant
•selling medicines at a drug store
•selling gas at a gas station
Answer:
Selling cotton shirts at a high-street store:
Manufacture: First, the factory manufactures shirts using raw materials they’ve purchased from suppliers.
Quality control: The shirts go through quality control to check for defects and to ensure uniformity among all the shirts. Quality inspectors are paid to ensure that shirts are free of defects.
Packaging/transportation: After the quality control process, the factory packages the shirts and hires transportation services to transport the shirts to the retail outlet.
Labeling: At a retail outlet, each type of shirt is valued and receives a price tag based on the discount that the storeowner decides to offer consumers.
Selling: Consumers choose between many types of shirts and may decide to purchase the shirt based on the quality and price.
Selling hamburgers at a fast-food restaurant:
Buying the ingredients: Headquarters buy ingredients from meat suppliers.
Assembly process: A team of chefs starts the preparation by chopping and assembling all the ingredients. Another team of chefs makes the burgers, and the ingredients are ready for delivery. Chefs are paid to ensure burgers are prepared correctly and packaged to maximize shelf life.
Packaging: The packaging department packs the burger patties and hires a specialized transportation service to deliver the frozen patties to the restaurant.
Selling: The restaurant prices the burgers and prepares them as customers order them. Customers can choose between this restaurant and another down the street.
Selling medicines at a drug store:
Manufacturing: A valid license holder manufactures the medicines. The manufacturer may hold the patent for certain drugs or may pay for the license to manufacture the drug.
Wholesalers: Wholesale dealers sell the medicines to pharmacies or other wholesalers.
Selling: Pharmacies sell the medicines to consumers, who may have the choice to purchase other drugs, including generic drugs.
Selling gas at a gas station:
Production: The oil company has to drill underground to find oil. The operation is typically paid for by investors that hope to strike oil and sell the oil to a refinery.
Refining: The crude oil is then refined at a refinery, who purchases the oil from the drilling company.
Selling: The oil company sells the refined oil to gas stations, which sell the gas to consumers. Consumers have many choices for gasoline, so the market price is a buyers’ market.
Explanation:
Don't really need one lol, I literally got the answer from the problem since I have to do this too
Economic Activity refers to the process involved in the conversion of raw material to finished goods and services. The activities are explained briefly.
What is an Economic activity?Economic activity means when assets, for example, capital merchandise, work, fabricating strategies, or delegated items are consolidated/used to create products and services.
1. Economic activity for selling cotton shirts at a high-street store:
Manufacture: make shirts using was materialsQuality control: to find out any defectsPackaging/transportation: the shirts are packaged and transported to the retailer.Labeling: the shirt is valued and price taggedSelling: sold to consumers2. Selling hamburgers at a fast-food restaurant:
Ingredients Purchase: buy ingredientsAssembly process: chefs prepares the dish Packaging: The burger is packed and transported the restaurant. Selling: sold to consumers3. Selling medicines at a drug store:
Manufacturing: license holder manufactures the medicines. Wholesalers: Wholesale dealers sell the medicines to pharmacies Selling: sold to consumers4. Selling gas at a gas station:
Production: The oil company has to drill underground to find oil. Refining: refined the crude oil Selling: sold to consumersTherefore the above statements explain the economic activities.
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Reggie, who is 55, had AGI of $35,200 in 2022. During the year, he paid the following medical expenses:
Drugs (prescribed by physicians)
Marijuana (prescribed by physicians)
Health insurance premiums-after taxes
Doctors' fees
Eyeglasses
Over-the-counter drugs
$ 570
1,470
1,280
1,320
445
270
Required:
Reggie received $570 in 2022 for a portion of the doctors' fees from his insurance. What is Reggie's medical expense deduction?
Reggie's medical expense deduction is $7,276.
AGI, or adjusted gross income, is a person's total income minus certain deductions and is used to calculate taxable income.
Reggie, who is 55 years old, had an AGI of $35,200 in 2022. During the year, he incurred the following medical expenses:
Drugs (prescribed by physicians): $5,701
Marijuana (prescribed by physicians): $1,470
Health insurance premiums-after taxes: $1,280
Doctors' fees: $1,320
Eyeglasses: $445
Over-the-counter drugs: $270
Reggie was reimbursed $570 by his insurance company for a portion of the doctors' fees. To calculate his medical expense deduction, we first need to subtract any reimbursements from his total medical expenses.
Total medical expenses: $5,701 + $1,470 + $1,280 + $1,320 + $445 + $270 = $10,486
Reimbursements: $570
Medical expenses after reimbursements: $10,486 - $570 = $9,916
To claim a medical expense deduction, the expenses must exceed a certain percentage of AGI, which varies depending on the taxpayer's age. For taxpayers who are 65 or younger, the threshold is 7.5% of AGI. For taxpayers who are over 65, the threshold is 7%.
Since Reggie is 55 years old, the threshold is 7.5% of his AGI or $35,200 x 0.075 = $2,640.
Therefore, Reggie can deduct the portion of his medical expenses that exceed $2,640.
Amount of medical expenses that exceed the threshold: $9,916 - $2,640 = $7,276
Therefore, Reggie's medical expense deduction is $7,276.
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can i apply for a bank account without a utility bill because i have all the requirements needed except a utility bill
Answer:
You dont need it
When an individual starts a new business there are
Answer: When an individual starts a new business there are risks and costs.
Explanation:
Kendra makes custom baby quilts embroidered with the baby’s name and date of birth. Although quilts can be partially completed in advance, all quilts remain in the Work in Process Inventory account until the final embroidery is completed. Quilt BBGR12 was completed in July. At the beginning of July, costs accumulated on the quilt were direct materials of $50, direct labor of $75, and overhead of $20. Completing the quilt required 2.5 hours of direct labor at $12 per hour. Overhead is applied at $3 per direct labor hour. What is the total cost on the job cost sheet for Job BBGR12 at the end of July? (Show your work.)
Answer:
$182.50
Explanation:
Calculation of the total cost on the job cost sheet for Job BBGR12
Manufacturing Costs Schedule
Beginning Work In Process Inventory :
Direct Materials $50.00
Direct labor of $75.00
Overhead of $20.00
Incurred during the year :
Direct labor (2.5 hours × $12) $30.00
Overheads (2.5 hours × $3) $7.50
Total cost on the job cost sheet $182.50
By 1920, advertising was generating
$300,000 in revenue
$3 billion in ad revenue
$13 million in ad sales
None of the above
Answer:
By 1920, advertising was generating $3 billion in ad revenue.
Explanation:
Answer:
c
Explanation:
The Cd Bank wants to open a new branch in a distant city with very different economic conditions. Currently, the bank has an expected return of 15% with a standard deviation of 7%. The new branch is expected to have a return of 20% with a standard deviation of 10%. The correlation between the bank's returns and the returns from the new branch is -0.3. The new branch is expected to contribute 10% of the bank's revenues. What is the expected return for the bank if they add the new branch
The expected return for the bank if they add the new branch is 15.5%.
Let New bank =10%
Let Old bank=1-10% = 90%
Using this formula
E(R)=(W1×R1)+[(1-W)×R2]
Where:
E(R)=Expected return=?
W1=New branch expected contribution=10%
R1=New branch expected return=20%
(1-W)=Old branch expected contribution=(1-10%)=90%
R2=Old branch expected return=15%
Let plug in the formula
E(R)=(.10×20%) + [(1-.10)×15%)]
E(R)= (.10×20%) + (.90×15%)
E(R)=0.02+0.135
E(R)=0.155×100
E(R)=15.5%
Inconclusion the expected return for the bank if they add the new branch is 15.5%.
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maverick company sold 1,000 rollomatics on october 1, 2017, at total price of $6,000,000, with a warranty guarantee that the product was free of defects. the cost of the rollomatics is $4,000,000. the term of this assurance warranty is 2 years, with an estimated cost of $80,000. in addition, maverick sold extended warranties related to 400 rollomatics for 3 years beyond the 2-year period for $18,000. on november 22, 2017, maverick incurred labor costs of $3,000 and part costs of $25,000 related to the assurance warranties. maverick prepares financial statements on december 31, 2017. it estimates that its future assurance warranty costs will total $44,000 at december 31, 2017.
The estimates of Maverick company having its future assurance warranty costs and other data, we can compute the question as follows:
The journal entries for the question will be as follows:
Date Particulars Amount
10/1 Cash 6,018,000 (debit)
Sales revenue 6,000,000 (credit)
Warranty revenue 18,000 (credit)
11/22 Warranty Expense 28,000 (debit)
Wages Payable 3,000 (credit)
Inventory 25,000 (credit)
12/31 Warranty Expense 44,000 (debit)
Warranty Liability 44,000 (credit)
A guaranteeing warranty ensures that the product will function as intended. This type of warranty ensures that if a good or service is delivered and it falls short of expectations, it will be rectified or replaced. A warranty fee is the cost that a company anticipates incurring to replace or repair goods that customers purchase. Companies are only obligated to account for warranty expenditures during the set warranty period.
After the warranty period has ended, companies are no longer required to pay for warranties. When determining an asset's original cost, all associated expenses for both purchasing and using the asset are taken into consideration. The purchase price as well as commissions, shipping, appraisals, warranties, installation, and testing fees are all included in these costs.
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Arthur files a single income tax return and his maximum tax-free interest under the education savings bond program is $6,000. How much of the interest is excludible if his modified adjusted gross income exceeds the applicable dollar limit by $5,000 (one-third of the phaseout range)?
If Arthur files a single income tax return and his maximum tax-free interest under the education savings bond program is $6,000. The amount of interest that is excludible is: $2,000.
How to find the interest that is excludible?Using this formula to find the interest that is excludible
Excludible interest = Maximum tax-free interest × Phaseout range
Where:
Maximum tax-free interest = $6,000
Phaseout range = 0ne -third = 1/3
Let plug in the formula
Excludible interest = $6,000 × 1/3
Excludible interest = $2,000
Therefore we can conclude that the excludible interest is $2,000.
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Which go where? Put the letter next to the right one , there could be the same letter for each one more than once
Answer:
Explanation:
Which go where? Put the letter next to the right one , there could be the same letter for each one more than once 1 in 1 is 2 cookies so if o eat one cookie you have one cookie
Mark Goldsmith's broker has shown him two bonds issued by different companies. Each has a maturity of 4 years, a par value of $1000, and a yield to maturity of 8.70. The first bond is issued by Crabbe Waste Disposal and has a coupon interest rate of %6.315 paid annually. The second bond, issued by Malfoy Enterprises, has a coupon interest rate of 8.90 % paid annually.
a. Calculate the selling price for each of the bonds.
1. Selling Price of Bond 1 issued by Crabbe Waste Disposal = $1031.08
2. Selling Price of Bond 2 issued by Malfoy Enterprises = $1269.50
How can we calculate the selling price (SP) for each bond?Bond 1: Issued by Crabbe Waste Disposal
Coupon Interest Rate (CIR) = 6.315%
Yield to Maturity (YTM) = 8.70%
Maturity (n) = 4 years
Par Value (PV) = $1000
To calculate the selling price of Bond 1, we can use the following formula:
SP = (CIR/100) * PV + [(PV - (CIR/100) * PV) / (1 + YTM/100)^n]
Putting the values:
CIR = 6.315%
PV = $1000
YTM = 8.70%
n = 4 years
SP for Bond 1 = (6.315/100) * 1000 + [(1000 - (6.315/100) * 1000) / (1 + 8.70/100)^4]
SP = $632.36 + $398.72
Selling Price of Bond 1 issued by Crabbe Waste Disposal = $1031.08
Bond 2: Issued by Malfoy Enterprises
Now, let's calculate the selling price for Bond 2 issued by Malfoy Enterprises.
Coupon Interest Rate (CIR) = 8.90%
Yield to Maturity (YTM) = 8.70%
Maturity (n) = 4 years
Par Value (PV) = $1000
Using the same formula as above:
SP = (CIR/100) * PV + [(PV - (CIR/100) * PV) / (1 + YTM/100)^n]
Putting the values:
CIR = 8.90%
PV = $1000
YTM = 8.70%
n = 4 years
SP of Bond 2 = (8.90/100) * 1000 + [(1000 - (8.90/100) * 1000) / (1 + 8.70/100)^4]
SP = $889 + $380.50
Selling Price of Bond 2 issued by Malfoy Enterprises = $1269.50
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In the "Input Analysis" section of the spreadsheet model, calculate the correlations between the sales of each type of product and event attendance. Use appropriate ranges from the "Past Event" worksheet for your calculations.
Answer:
The correct formula will be :
=average(past event tab then col in that tab) use this for att, programs, food, and merch
=AVERAGE('Past Events'!C4:C103)
Explanation:
To calculate the correlation between the sales of each kind of product and event attendance, from the Input analysis part of the spreadsheet model.
According to the information provided, in the targeted cell, we will use formula
=Average(data cells)
and for other part of the question is to calculate sales. For this part we can simply use the sum formula, first, we will sum the sales for a single item in past events column than at the end of the past column.
Thus, the correct formula will be :
=average(past event tab then col in that tab) use this for att, programs, food, and merch
=AVERAGE('Past Events'!C4:C103)
7 habits of stephen coveys sharpening the saw
what is something you'd work on improving if you had the time?
what is the best way to balance your brain? body? heart? soul?
what are some ways you can keep your sw sharp while in school and then also in your profession?
Take some time each day to reflect on how you can be better in all aspects of your life, Make sure to set aside time to exercise.
What is life ?Life is a journey that is unique to each individual. It is filled with highs and lows, successes and failures, joys and sorrows. Life is an opportunity to learn, grow, and experience new things. It is an adventure that can be filled with purpose and meaning, or filled with aimless wandering. Life is a funny thing - it can be taken for granted, but it is also precious and should be cherished.
Eating a healthy and balanced diet is essential for keeping your saw sharp, make sure to get enough sleep each night,reading helps to keep your mind sharp by exposing you to new ideas, make sure to set aside time to relax and unwind and staying connected.
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holding cash for precautionary motive assumes management wants cash for emergency purposes when inflows are projected.
Holding cash for precautionary motive assumes management wants cash for precautionary motives.
What is the purpose of keeping cash as a precaution?
It was Keynes who first proposed looking at the preventive reasons for maintaining a cash reserve (1936). According to his view, precautionary reserves can be kept in the form of cash or demand deposits and act as insurance against substantial expenses that could materialize in the foreseeable future.
What are the three reasons to keep cash on hand?
Keynes claimed that there are three reasons why people keep cash on hand: I transactions motivation, (ii) precautionary motive, and (iii) speculative motive. The reason for keeping cash on hand is because it is necessary for both personal and commercial exchanges to make current payments.
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If you spend more than your income can support look for ways to:
If you spend more than your income can support, look for ways to both increase your income and decrease your expenses. The Option E is correct.
What is the solution to spend more one's income?The solution to spending more than one's income is to practice good financial habits such as budgeting, saving, and prioritizing expenses. Creating a budget that tracks income and expenses can help individuals see where their money is going and identify areas where they can cut back.
Prioritizing expenses involves identifying what is most important and necessary, such as housing, food, and transportation, and allocating funds accordingly. It may also be helpful to consider increasing income by pursuing additional education or training, taking on a side job or gig work, or negotiating a raise at one's current job.
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The twentieth century saw an accelerating shift from traditional manufacturing activities to production procedures requiring large investments in raw materials and labor.
a. True
b. False
Answer:
true
Explanation:
Portman Industries just paid a dividend of $2.16 per share. The company expects the coming year to be very profitable, and its dividend is expected to grow by 16.00% over the next year. After the next year, though, Portman's dividend is expected to grow at a constant rate of 3.20% per year. The required rate of return is 13.6%. Assuming that the market is in equilibrium.
Required:
What is the expected dividend yield for Portman's stock today?
Answer:
Expected Dividend Yield is 10.4%
Explanation:
As we know that the Expected Dividend Yield for Portman’s Stock can be calculated using the following formula:
Expected Dividend Yield = [D0 x (1 + g) / Intrinsic Value (Step1)] * 100
Here
Dividend just paid is $2.16 per share
The growth rate for the Portman's stock is 16% for the first year
Ke is 13.6%
Intrinsic Value = $24.09 (See Step 1)
By putting the above values in the above equation, we have:
Expected Dividend Yield = [$2.16 x (1 + 0.16) / $24.09] x 100
= 10.4%
Step 1. Intrinsic Value can be calculated using the following formula:
Intrinsic Value = D1 / (1 + r)^1 + Horizon Value (Step 2) / (1 + r)^1
Here
Growth (g) will be 3.2% for the year 2 because D2 = D1 * (1 + g)
Horizon value = D1 * (1 + g) / (Ke – g) = $2.5056 * (1 + 3.2%) / (13.6% – 3.2%)
= $2.5858 / 0.0752 = $24.86 per share
So by putting the above values in the step 1, we have:
= $2.5056 / (1 + 0.136)1 + $24.86/(1 + 0.136)1
= $24.09 per share
In the midst of closing procedures, Echo Corporation's accountant became ill and was hospitalized. You have volunteered to complete the closing of the books, and you find that all revenue and expense accounts have zero balances. The Dividends account has a debit balance of $18,750. The Retained Earnings accounts has a beginning credit balance of $134,000. Expenses totaled $325,500 and revenues totaled $364,400.
Prepare journal entries to complete the closing procedures as of year-end. To close the Dividends account.
Answer:
Revenues Dr $364,400
Income summary Cr $364,400
(Closing revenue accounts)
Income summary Dr $325,500
Expenses Cr $325,500
(Closing expense accounts)
Income summary Dr $38900
Retained earnings Cr $38900
(Transferring balance in income summary to retained earnings)
Dividends Dr $18,750
Retained earnings Cr $18,750
(Closing of dividends)
A popular, local coffeeshop in one of the suburbs of New York City (NYC) estimates they use 3,100 pounds of coffee annually. They have to determine how many pounds to order each time in order to minimize their total annual cost. a. Determine the optimal size of the order assuming an EOQ model with a holding cost of $10 per pound annually and an ordering cost of $100.
Answer:
Economic order quantity (EOQ)= 249 pounds
Explanation:
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
Economic order quantity (EOQ)= √[(2*D*S)/H]
D= Demand in units
S= Order cost
H= Holding cost
D= 3,100
S= $100
H= $10
Economic order quantity (EOQ)= √[(2*3,100*100) / 10]
Economic order quantity (EOQ)= 249 pounds
What are some strategies that you can use to prepare to file taxes each year? What would be
the benefits of these strategies?
How do dry and highland climate zones differ from tropical, temperate, and polar climate zones?
Answer:
Gas prices drop for fifth consecutive week amid holiday travel season
Explanation:
Gas prices drop for fifth consecutive week amid holiday travel season, remain above $3 a gallon: The national average price for a gallon of regular gasoline dropped for the fifth consecutive week, providing some relief for drivers amid the busy holiday travel season. #accelerationism
Who will be the first Trillonare in this world ?
The person who is expected to become the first Trillionaire is Jeff Bezos, founder, and CEO of Amazon.
According to a study conducted by Comparison, Jeff Bezos could become the world’s first Trillionaire by the year 2026. This prediction was made on the basis of the average percentage of growth of Bezos’ net worth over the last five years. The study also highlighted that Bezos’ wealth has grown by an average of 34% over the last five years. At this rate of growth, his net worth could reach $1 trillion by the year 2026.
However, the current COVID-19 pandemic has had a negative impact on the economy, and Bezos’ net worth has already decreased by over $20 billion since the start of the pandemic. Despite this, it is still possible that Bezos may become the world’s first Trillionaire in the future, but there are also other contenders who could reach this milestone, such as Elon Musk, CEO of Tesla and SpaceX. However, as of now, there is no confirmed Trillionaire in the world.
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The Canadian government decides to offer tax concessions to foreign companies that agree to build a manufacturing facility in Canada. This tax concession is a way to
a. encourage inward FDI.
b. discourage inward FDI.
c. encourage outward FDI.
d. discourage outward MNE.
e. discourage inward MNE.
price elasticity of demand for electricity
The price elasticity of demand for electricity reflects the sensitivity of electricity consumption to price changes.
The price elasticity of demand for electricity is a measure of the responsiveness of electricity consumption to changes in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price.
Understanding the price elasticity of demand for electricity is important for policymakers, electricity providers, and regulators in making informed decisions.
In the short run, the price elasticity of demand for electricity tends to be relatively low or inelastic. This means that changes in the price of electricity have a relatively small effect on the quantity demanded.
Electricity is considered a necessary and essential good for many households and businesses, and there are limited substitutes available in the short run.
In the long run, the price elasticity of demand for electricity becomes more elastic. Consumers and businesses have more flexibility to respond to price changes by adjusting their behavior, investing in energy-efficient technologies, or switching to alternative energy sources.
The availability of substitutes and technological advancements play a significant role in increasing the elasticity of demand over time.
It is important to note that the price elasticity of demand for electricity can vary across different consumer segments and regions. Industrial and commercial consumers often have more options to adjust their electricity consumption patterns and tend to have a higher elasticity of demand.
Residential consumers, on the other hand, may have fewer alternatives and exhibit a lower elasticity of demand.
It helps policymakers and stakeholders anticipate the impact of price fluctuations and design effective policies related to pricing structures, subsidies, energy efficiency programs, and the promotion of renewable energy sources.
Understanding the price elasticity of demand for electricity is crucial for balancing economic, environmental, and social goals in the energy sector.
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if a co worker asks for help with something but you're busy finishing a task, what should you say? A I have to finish this but I'm happy to help when I'm finished B I can't help you today C I'm busy can you ask someone else
Answer:
A
Explanation:
it shows that you still value the co worker and are still willing to help so its up to them if they wait then that means its something you can do whatever that might be but if said co worker moves on to another for help that means that they couldn't wait or it was something that needed two people, a trivial task.
What are 2 key benefits of budgeting?
Budgeting allows for effective financial management, empowering individuals and organizations to control their finances, plan for the future, achieve goals, and enhance long-term security.
Budgeting offers several key benefits for individuals, households, businesses, and organizations. Here are two key benefits of budgeting:
Financial Control and Planning: Budgeting provides a framework for financial control and planning.
By setting clear financial goals and allocating resources effectively, individuals and organizations can have better control over their income, expenses, and overall financial situation. Budgeting allows for proactive decision-making, as it helps identify areas of overspending or potential savings, enabling adjustments and course corrections as needed.
It helps in prioritizing expenses, reducing wasteful spending, and ensuring that financial resources are allocated in line with priorities and objectives.
Goal Achievement and Future Security: Budgeting plays a crucial role in goal achievement and future security. By setting specific financial goals, such as saving for a house, education, retirement, or business expansion, budgeting helps individuals and organizations allocate resources towards these goals systematically.
It provides a roadmap for saving and investing, ensuring progress towards long-term objectives. Budgeting also helps in managing debt effectively, reducing financial stress, and building a strong financial foundation for the future.
By establishing savings and emergency funds, budgeting provides a safety net, enhancing financial resilience in case of unexpected events or economic downturns.
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Required: Journal Entries Journal Entries and Ledger Account 2076 GIE Set B Q.No. 9 Following transactions are given: i Furniture purchase for Rs. 50,000 i. Depreciation on furniture Rs. 5,000 Furniture purchased from ABC furnitures Rs. 40,000 iv. Furniture costing Rs. 10,000 was sold for Rs. 11,000 Required: a. Journal Entries b. Furniture's Account 2076 Set B Q.No. 9 Following transactions are given: of his account.
The debit transaction refers to the account that receives an increase in value or the account that is being charged, whereas the credit transaction refers to the account that decreases in value or the account that is being credited. Below is the journal entries of the given transactions:
What constitutes the journal entries?Here is the journal entries:
i. Furniture purchase for Rs. 50,000:
Debit - Furniture Account: Rs. 50,000
Credit - Cash/Bank Account: Rs. 50,000
ii. Depreciation on furniture Rs. 5,000:
Debit - Depreciation Expense Account: Rs. 5,000
Credit - Accumulated Depreciation Account: Rs. 5,000
iii. Furniture purchased from ABC furnitures Rs. 40,000:
Debit - Furniture Account: Rs. 40,000
Credit - Accounts Payable/ABC Furnitures Account: Rs. 40,000
iv. Furniture costing Rs. 10,000 was sold for Rs. 11,000:
Debit - Cash/Bank Account: Rs. 11,000
Credit - Furniture Account: Rs. 10,000
Credit - Gain on Sale of Furniture Account: Rs. 1,000
b. Furniture's Account:
Date | Part. | Debit | Credit | Bal.
Opening Bal. | - | - | - | 0
01/04 | Cash/Bank A/c | - | 50,000 | 50,000
30/04 | Depreciation Exp. A/c | 5,000 | - | 45,000
15/05 | Accts Payable/ABC Furnitures | - | 40,000 | 5,000
01/07 | Gain on Sale of Furniture | - | 1,000 | 6,000
01/07 | Cash/Bank A/c | 11,000 | - | 17,000
01/07 | Gain on Sale of Furniture A/c | - | 1,000 | 18,000
Closing Balance | - | 17,000 | - | 17,000
The above ledger account shows the transactions related to the furniture account. The opening balance of the furniture account is zero. The first transaction on April 1, 2076, is the purchase of furniture for Rs. 50,000.
The second transaction on April 30, 2076, is the depreciation of furniture for Rs. 5,000. The third transaction on May 15, 2076, is the purchase of furniture from ABC furnitures for Rs. 40,000.
The fourth transaction on July 1, 2076, is the sale of furniture costing Rs. 10,000 for Rs. 11,000 and the gain on the sale of furniture is Rs. 1,000. The closing balance of the furniture account is Rs. 17,000.
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Carla Vista, Inc. has a defined-benefit pension plan covering its 50 employees. Carla Vista agrees to amend its pension benefits. As a result, the projected benefit obligation increased by $2,475,000. Carla Vista determined that all its employees are expected to receive benefits under the plan over the next 5 years. In addition, 10 employees are expected to retire or quit each year. Assuming that Carla Vista uses the years-of-service method of amortization for prior service cost, the amount reported as amortization of prior service cost in year one after the amendment is:
Answer:
$825,000
Explanation:
Number of service years = 50+40+30+20+10
Number of service years = 150
Cost per service year = Projected benefit obligation increase / Number of service years
Cost per service year = $2,475,000 / 150
Cost per service year = $16,500
Amortization of prior service cost in year one = Cost per service year / 50 employees
Amortization of prior service cost in year one = $16,500*50
Amortization of prior service cost in year one = $825,000
rates at business hotels are typically much lower on weekends than during the week
True or false?
Answer: I think is True
Explanation: I hope that helps :)
Explain the positive and negative aspects of entrepreneurship. Draw evidence to support your claim from two other sources.
Answer:
Advantage #1: A flexible schedule – both in terms of when and where you work. ...
Advantage #3: It's exciting and fulfilling. ...
Advantage #4: The salary makes sense. ...
Disadvantage #1: You wear a lot of hats. ...
Disadvantage #2: You are always at work.
Explanation:
The positive (advantages) and negative aspects (disadvantages) of entrepreneurship are enumerated below:
Control: Entrepreneurship offers the entrepreneur a sense of being in charge and being the captain of the ship. With freedom of control comes increased risk of business failure.Responsibility: The entrepreneur is responsible for her income for life sustenance. There is no more reliance on a period paycheck. The entrepreneur can decide to delight her customers or to scare them away.Flexibility: The entrepreneur enjoys flexibility in work schedule. She works at her own pace. The downside is that your customers dictate when you work. The workload may increase more than your capacity to handle. Thus, flexibility does not happen always until you have established the business properly.Profit-making: As the business makes profits, the entrepreneur is entitled to receive all. When it makes losses, the entrepreneur similarly bears all.Thus, there are numerous benefits in being an entrepreneur. But there are also negative aspects of entrepreneurship.
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