If a fixed asset, such as a computer, were purchased on January 1st for $1,578 with an estimated life of 7 years and a salvage or residual value of $243, the journal entry for monthly expense under straight-line depreciation is Oa. Accumulated Depreciation 15.89 Depreciation Expense 15.89 Ob. Depreciation Expense 15.89 Accumulated Depreciation 15.89 Oc. Depreciation Expense 190.71 Accumulated Depreciation 190.71 Od. Accumulated Depreciation 190.71 Depreciation Expense 190.71
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If a fixed asset, such as a computer, was purchased on January 1 for $1,578 with an estimated useful life of 7 years and a salvage or salvage value of $243, the journal entry for monthly expense under straight-line depreciation is shown. with the option: (a) Accumulated depreciation 15.89 Depreciation expense 15.89.
What is depreciation?Depreciation is a method that accounts for the cost of long-lived assets over their useful lives. In other words, it is an accounting technique used to allocate the cost of a long-lived asset over its useful life. The straight-line method of depreciation is the most widely used method of calculating depreciation.
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Related Questions
All of the following statements describe the advantages of the FHA, except:
a.) they have high L/V ratios.
b.) there are different loan types.
c.) there is no prepayment penalties.
d.) it has lower than market interest rates.
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All of the statements describe the advantages of the FHA, except "it has lower than market interest rates." Option D is correct.
The Federal Housing Administration (FHA) does not offer lower than market interest rates as an advantage. While the FHA provides various benefits to homebuyers, such as high loan-to-value (L/V) ratios (a), different loan types (b), and no prepayment penalties (c), it does not guarantee lower interest rates compared to the market.
FHA loans are insured by the government, which allows lenders to offer more favorable terms and lower down payment requirements, making them accessible to borrowers who may not qualify for conventional loans.
Option D holds true.
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Which situations offer examples of banking and related services workers? select three options. anna analyzes loan applicants to decide whether to give them loans. aaron helps customers put money into and remove money from their accounts. jared researches the credit history of people applying for credit. tamara reviews the finances of a business to determine whether it is profitable. raquel helps individuals and companies prepare their tax forms. troy helps a family create a budget to save more money.
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Examples of banking and related services workers are;
Anna analyzes loan....Aaron helps customers put money...Jared researches the...What is banking?Banking sweves as the business of protecting money for others, it involves lending if money and generating interest that creates profits .
Therefore, example of banking is when Aaron helps customers put money into and remove money from their accounts.
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Answer:
ANNA, AARON, JARED
Explanation:
A; Anna analyzes loan applicants to decide whether to give them loans.
B; Aaron helps customers put money into and remove money from their accounts.
C; Jared researches the credit history of people applying for credit.
QUESTION 24 INSTRUCTIONS: In the following blanks, write the account names that you Debit and Credit to recognize Depreciation of Plant Assets, Depletion of Natural Resources, and Amortization of Intangibles. MAKE SURE THAT YOU CORRECTLY WRITE THE ACCOUNT NAME (CHECK YOUR SPELLING) DO NOT ABBREVIATE THE ACCOUNT NAME. 1) The Journal Entry to record Depreciation includes a DEBIT to 2) The Journal Entry to record Depletion of Natural Resources includes a DEBIT to to 3) The Journal Entry to record Amortization of a Patent includes a DEBIT to and a CREDIT to - and a CREDIT and a CREDIT to
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1) The Journal Entry to record Depreciation includes a DEBIT to Accumulated Depreciation and a CREDIT to Depreciation Expense.
2) The Journal Entry to record Depletion of Natural Resources includes a DEBIT to Depletion Expense and a CREDIT to Accumulated Depletion.
3) The Journal Entry to record Amortization of a Patent includes a DEBIT ton Amortization Expenses and a CREDIT to Accumulated Amortization.
1) Depreciation is the systematic allocation of the cost of a plant asset over its useful life. The Journal Entry to record Depreciation involves debiting the Accumulated Depreciation account,which represents the total accumulated depreciation on the asset, and crediting the Depreciation Expense account, which represents the expense recognized for the period.
2) Depletion is the process of allocating the cost of natural resources over their extraction or usage. The Journal Entry to record Depletion of Natural Resources requires debiting the Depletion Expense account, which represents the cost of resources consumed, and crediting the Accumulated Depletion account, which accumulates the total depletion incurred.
3) Amortization refers to the allocation of the cost of intangible assets over their useful life. When recording the Amortization of a Patent, the Journal Entry involves debiting the Amortization Expense account, which represents the expense recognized for the period, and crediting the Accumulated Amortization account, which accumulates the total amortization of the patent.
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Balancing low-cost storage with low-cost material handling is important in which of the following?A) fixed-position layoutB) process-oriented layoutC) office layoutD) repetitive and product-oriented layoutE) warehouse layout
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Balancing low-cost storage with low-cost material handling is important in the E) Warehouse Layout.
In a warehouse layout, efficient use of space is crucial, and balancing the costs of storage with the costs of material handling is key to maintaining profitability. The goal of a warehouse layout is to maximize storage capacity while minimizing the time and cost of moving materials in and out of the facility.
This involves designing an optimal layout that balances the costs and benefits of various storage and material handling options, such as shelving, pallet racks, conveyor systems, and forklifts. By optimizing the warehouse layout, businesses can reduce operational costs, increase productivity, and improve customer satisfaction.
Option E is answer.
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A company's total cost of FIFO inventory was $329,000 and its current replacement cost is $307,000. Under the lower cost or market, the amount reported should be $329,000.
a. True b. False.
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b. False
Lower of cost or market (LCM) is an accounting method used to report inventory at the lower of its historical cost (FIFO cost in this case) or its current market value (replacement cost in this case).
The purpose of LCM is to ensure that inventory is reported at a conservative value and to account for any potential losses due to obsolescence, damage, or other factors that may cause the market value of the inventory to fall below its historical cost.
In this scenario, the company's total cost of FIFO inventory is $329,000, but its current replacement cost is only $307,000. According to the LCM rule, the inventory should be reported at the lower of these two values, which is $307,000.
Therefore, the correct answer is b. False. The amount reported under lower cost or market should be $307,000, not $329,000.
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rocky mountain bottling company produces a soft drink that is sold for a dollar. at production and sales of 1,000,000 units, the company pays $700,000 in production costs, half of which are fixed costs. at that volume, general, selling, and administrative costs amount to $300,000, of which $50,000 are fixed costs. what is the amount of contribution margin per unit?
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The difference between the selling price per unit and the variable cost per unit is the contribution margin per unit. In the breakeven analysis, which is also known as the cost-volume-profit analysis.
This is used to calculate the breakeven point.
How is commitment edge determined?
Commitment edge is determined as Income - Variable Expenses. The commitment edge proportion is determined as (Income - Variable Expenses)/Income
What is commitment edge versus gross edge?
Commitment edge considers just the variable expenses of making an item or administration, while gross edge thinks about all immediate expenses of creation.
First, figure out all of the variable costs.
($800,000 x 0.50) plus (250,000 - 70,000) equals $580,000 in variable costs.
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q 3.17: what is a list of accounts and their balances at a given time called?
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A list of accounts and their balances at a given time is called a trial balance.
A trial balance is a statement of all the general ledger accounts of a business at a particular point in time. It lists all the accounts in the order of their appearance in the ledger, along with their respective debit or credit balances. The purpose of a trial balance is to ensure that the total debits equal the total credits, which is an indication that the accounting records are in balance.
The trial balance is typically prepared at the end of an accounting period, such as a month or a year. It is used as a tool to identify any errors or omissions that may have occurred during the accounting period, which can then be corrected before the financial statements are prepared.
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What have instant communication and sales made possible? Check all that apply.
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Imagine you got into an auto accident which was your fault and you have 15/30/5 insurance. You did $5,000 damage to the other car, and broke a computer in the other car's trunk worth
$2,000.
There were 3 people in the other car and their medical bills were $12,000
each. The father in the other car also was out of work for a month costing the family $6,000.
In total, you are sued for $49,000.
How much money will the insurance company pay toward the amount you were sued for in this accident?
Answers
Answer:
The insurance company will pay up to a maximum of $25,000 for this accident. This is determined by the limits of the insurance policy, which is 15/30/5. This means that the insurance company will pay up to $15,000 for bodily injury per person ($15,000 x 3 people = $45,000) and up to $30,000 for bodily injury per accident ($30,000). They will also pay up to $5,000 for property damage ($5,000). Therefore, the total amount the insurance company will pay is $15,000 + $30,000 + $5,000 = $50,000. Since the total amount sued for is $49,000, the insurance company will pay the full amount of $49,000.
Explanation:
The insurance provider will cover this accident for a maximum of $25,000. The insurance policy's 15/30/5 limits serve as the basis for this decision. This indicates that the insurance provider will cover bodily injury claims up to the amount of $15,000 per person
What is the insurance?Insurance is a tool for risk management. You purchase protection against unforeseen financial losses when you purchase insurance. If something unpleasant happens to you, the insurance company pays you or someone else of your choosing. If an accident occurs and you don't have insurance, you can be liable for all associated expenses.
($15,000 x 3 people = $45,000) and $30,000 per accident ($30,000). Additionally, they will cover property damage up to $5,000 ($5,000). As a result, the insurance provider will cover a total of $50,000 ($15,000 + $30,000 + $5,000). The insurance provider will cover the full $49,000 since the total amount claimed in the lawsuit is $49,000.
Therefore, The insurance company will pay up to $25,000 toward this accident's expenses.
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debbie is applying for a gas card. If she gets approved, what type of credit will it most likey be?
Answers
Answer:
debt
Explanation:
According to the neoclassical market clearing model, with lump sum taxes and exogenous labour supply, a temporary increase in government purchases A[] increases current GDP and consumption. B)[ ] increases investment and future GDP. C[ ] increases the interest rate on long term bonds. D[ ] B and C. E)[ ) none of the above
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According to the neoclassical market clearing model with lump-sum taxes and exogenous labor supply, a temporary increase in government purchases would have the following effects:
ncreases current GDP and consumption.This statement is not accurate. In the neoclassical model, a temporary increase in government purchases does not necessarily lead to an increase in current GDP and consumption. The model assumes that prices are perfectly flexible and that markets clear, meaning that any increase in government purchases would be offset by a decrease in private consumption or investment. The level of GDP remains unchanged in the long run.
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If you were starting a company, what would be included in your social
responsibility statement?\]-
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Most employers routinely consider the first several weeks to ____ days as provisional employment during which either party may terminate the relationship without notice. A. 30 B. 60 C. 90 D. 120
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The term "provisional employment" refers to a trial period in which an employer assesses a new employee's performance and fit within the company. During this time, either the employer or the employee may choose to terminate the working relationship without notice. Most employers routinely consider the first several weeks to 90 days (Option C) as provisional employment.
Many employers have a provisional employment period, which is typically the first few weeks or months of a new hire's tenure. During this time, the employer and employee are getting to know each other and assessing whether the job is a good fit for both parties. It is common for employers to consider the first 30, 60, or 90 days as provisional employment, during which either the employer or employee may terminate the relationship without notice. This period allows for a trial run before committing to a long-term employment arrangement.
The duration of the provisional employment period can vary depending on the employer and the type of job. For example, some jobs may require a longer provisional period due to the complexity of the work, while others may only require a shorter period. It is important to understand the terms of the provisional period when starting a new job to avoid any misunderstandings or surprises. Ultimately, the provisional period serves as a valuable tool for both the employer and employee to ensure that the employment relationship is a good match for everyone involved.
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The payment of raw materials previously purchased on account is recorded by an entry debiting?
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The payment of raw materials previously purchased on account is recorded by an entry debiting the accounts payable or trade payable account.
When raw materials are initially purchased on account, the transaction is recorded by crediting the accounts payable account and debiting the raw materials inventory account.
This reflects the increase in the liability (accounts payable) and the increase in the asset (raw materials inventory).
When the payment is made to settle the accounts payable, the transaction is recorded by debiting the accounts payable account and crediting the cash or bank account.
This reflects the decrease in the liability (accounts payable) and the decrease in the asset (cash or bank).
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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
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Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUUSA TEST PREP HELP ILL GIVE BRAINLIEST. If both monetary policy and fiscal policy were used at the same time to contract the economy, which set correctly describes the likely result of these actions?
A) A
B)B
C)C
D)D
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Answer:
I am unsure of the answer but it can be narrowed down to B D or E because the GDP would decrease.
Gaby is motivated to work hard in a capitalistic society, because: ________
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Gaby is motivated to work hard in a capitalistic society, because she wants to do well for herself.
What is the name of a capitalist society?Since the end of feudalism, capitalism, also known as the market economy or the free enterprise economy, has dominated in the Western countries. Under capitalism, the majority of the mode of production are privately owned, and production is controlled and income is distributed primarily through the the functioning of markets.
The benefits of capitalismContrary to socialism, marxism, or authoritarianism, capitalism encourages individual initiative and a solid work ethic. By working hard or come up with an original concept, everyone can elevate their position in life. In many nations around the world today, that is still not the case and has hardly shown to be the case through human history.
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When opening an account What are the 3 things you need to do?
Answers
You must decide on a bank and give it the required documentation, such as identification and proof of address, in order to opening an account.
Usually, in order to be eligible, you must be 18 years old. Finally, in order to avoid costs, you might need to fund the account or maintain a minimum level. You will require a government-issued ID, your ID number, and your physical and mailing addresses in order to open an account.
You should read the disclosures before choosing an account so that you are aware of any account fees or minimum balance requirements. Depending on the characteristics you need, such as high interest rates, low minimum balance requirements, no ATM fees, or something else, you can choose the bank or account you desire. You must provide the bank or credit union with paperwork when you open a new bank account so they can confirm your identity.
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How to write a recommendation letter for a student?.
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Writing a recommendation letter for a student is an important task that can help them in their academic or professional pursuits. Here are some steps and tips to guide you through the process:
1. Introduction:
Begin the letter by addressing it to the appropriate recipient, typically the admissions committee, scholarship committee, or potential employer. State your own name, position, and the institution or organization you are affiliated with.
2. Explain your relationship:
Clearly state your relationship with the student and how long you have known them. Mention your role as a teacher, mentor, employer, or any other capacity in which you have interacted with the student.
3. Highlight the student's qualifications:
Discuss the student's strengths, abilities, and skills that make them stand out. Provide specific examples of their achievements, academic performance, leadership qualities, teamwork skills, or any other relevant attributes. Be detailed and provide concrete evidence to support your statements.
4. Personal qualities and character:
Discuss the student's personal qualities and character traits. Comment on their work ethic, integrity, enthusiasm, adaptability, and other positive traits. Provide anecdotes or examples that showcase these qualities.
5. Discuss their potential and future goals:
Share your thoughts on the student's potential for future success. Talk about their goals, aspirations, and how you believe they will contribute positively to their chosen field or academic pursuits. Highlight any unique perspectives or experiences that make them a valuable candidate.
6. Conclusion:
Summarize your overall recommendation and reiterate your confidence in the student. Offer to provide further information or answer any questions if needed. Close the letter with a polite and professional sign-off.
7. Proofread and edit:
Before submitting the letter, carefully proofread it for any grammatical or spelling errors. Ensure that the letter flows smoothly and presents a positive and accurate portrayal of the student.
Remember, it's important to write an honest and balanced recommendation letter. Focus on the student's strengths and qualifications while being truthful and accurate in your assessment. Customize the letter to suit the specific purpose or program the student is applying to, and make it unique to the student's experiences and accomplishments.
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Look for _____ in research information showing preferential treatment or consideration regardless of legitimate reasoning.
credibility
relevance
bias
additional sources
Answers
Answer:
bias
Explanation:
bias is the true anwer
When given one variable value, the value of other variables can be easily estimated. This applies to which type of graph? a. Line c. Scale b. Bar d. Both A and B Please select the best answer from the choices provided A B C D
Answers
Answer: A. Line!
Explanation: On Edge!!
You are going to deposit $3,100 in an account that pays .37 percent interest per month. How much will you have in 7 years
Answers
Answer:
MILLIONS AND BILLIONS !
Explanation:
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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What is the term that describes what a business has to pay to correct defective products?
Answers
Answer:
Cost of quality
Explanation:
Apevx
Answer:
cost of quality
Explanation:
Which examples demonstrate common qualifications for Security and Protective Services careers? Check all that apply.
Brooke negotiates with the prison inmates she supervises.
Ami is comfortable working alone and making decisions in her work as a Private Detective.
Reed thinks of creative solutions for defending a client in court.
Vincenzo attends college for many years and earns a juris doctor degree.
Shameka watches for unusual activities and signs of danger as she guards a bank building.
Teddy is a Lifeguard who uses his strength to pull a person out of the water.
Answers
Answer:
2,5,6
Explanation:
Ami,shameka,teddy
Answer:
2,5,6
Explanation:
A yield can be paid in the form of?
Answers
Answer:
both a and b
Explanation:
Say that Australia has a working population of 11,565,470 people, and that the average salary is $26,450 annually. How much tax revenue would Australia generate each year by instituting a 31. 4% income tax? a. $81,528,467,671 b. $90,224,333,274 c. $96,054,697,991 d. $209,851,983,509 Please select the best answer from the choices provided A B C D.
Answers
Answer:
c
Explanation:
Airing an ad during the Super Bowl is MOST representative of which type of marketing?
Answers
The Super Bowl offers sponsors their biggest marketing opportunity of the year. With a global audience of over 112 million spectators, having an advertisement during the game gives brands a unique opportunity to market to new consumers.
High-profile television advertisements that are shown during the Super Bowl, the National Football League's championship game, are referred to as Super Bowl commercials or Super Bowl ads (NFL). For those viewers, the advertisements offer amusement and a way to connect with other sports lovers without having to be familiar with the game. Additionally, given the high stakes for advertisers, audiences anticipate Super Bowl ads to be funnier and more engaging than regular ones. Keep in mind that the expensive advertising rates on NBC, the network airing the Super Bowl, are only to secure airtime. That excludes production costs, and some businesses even shell out a ton of money for celebrity cameos.To learn more about Super Bowl
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The repair service that fixes your farming equipment doesn’t seem to fix your plow correctly. The technician says that if you are not happy, you can buy a new plow from him, but the cost is extremely high. Do you have other options available to you for higher-quality repairs or cheaper equipment? Explain your answer.
Answers
Answer:
Your best option would be for higher quality repairs and higher quality equipment, this would save you more money and time in the long run where you have the ability to do other things.
Explanation:
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Answer:
No, because in command economies, there is no competition. So, there are no other repair services that would offer higher-quality repairs or cheaper equipment. Additionally, no incentive exists for the technician to provide high-quality service.
Explanation:
the actual answer
in a note containing the terms of a lending transaction, the party borrowing the money may be called the:
Answers
The party borrowing the money may be called the "borrower" in a note containing the terms of a lending transaction.
A lending transaction is an agreement between two or more parties in which one party (the lender) provides a sum of money or other asset to another party (the borrower) in exchange for repayment of the loan and interest over a set period of time.
The note detailing the terms of the transaction will include the names of the borrower and lender, the amount of the loan, the interest rate, the repayment schedule, and any other conditions.
All parties must agree to and sign the note before the transaction is completed.
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