Journalizing is the method of recording transactions in the accounting journal. In the given scenario, the journal entries are required to be made for the Burer Company. The transactions for Burer Company are as follows: Oct
1 - Buys $10,000 of merchandise from Seller, terms 2/10, 1/30Account Debited - Merchandise Inventory Account Credited - Accounts Payable
Oct 3 - Pays $250 freight charges for above merchandise Account Debited - Freight and Delivery Expense Account Credited - Cash Oct 5 - Returns $750 of the merchandise because it is the wrong color Account Debited - Accounts Payable Account Credited - Merchandise Inventory
Oct 10 - Pays balance due to Seller Account Debited - Accounts Payable Account Credited - Cash Therefore, the journal entries for the Burer Company would be as follows: Date | Account Debited | Account Credited | Amount Oct 1 | Merchandise Inventory | Accounts Payable | $10,000Oct 3 | Freight and Delivery Expense | Cash | $250Oct 5 | Accounts Payable | Merchandise Inventory | $750Oct 10 | Accounts Payable | Cash | $9,500 (after deducting discount of $200)Thus, the above transactions have been journalized for the Burer Company.
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The Field Detergent Company sold merchandise to the Abel Company on June 30, 2016. Payment was made in the form of a noninterest-bearing note requiring Abel to pay $85,000 on June 30, 2018. Assume that a 10% interest rate properly reflects the time value of money in this situation
The interest amount on the noninterest-bearing note for June 30, 2018 would be $8,500. The total amount due on June 30, 2018 would be $93,500.
The noninterest-bearing note requires Abel Company to pay $85,000 to the Field Detergent Company on June 30, 2018. As the note does not bear interest, the Field Detergent Company loses out on the opportunity to earn interest on the loaned amount.
To compensate for this loss, a 10% interest rate has been assumed to properly reflect the time value of money in this situation. This results in an interest amount of $8,500 ($85,000 x 10% = $8,500).
The total amount due on June 30, 2018, including both the principal and the interest, would be $93,500 ($85,000 + $8,500 = $93,500).
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Which of the following is true of the Federal Deposit Insurance Corporation?
Responses
It insures bank money
It protects consumers from fraud
It regulates the sale of commodities
It controls the law of car insurance
Deposits are protected by the FDIC; examines and supervises financial institutions for consumer protection and safety; makes it possible to resolve large and complex financial institutions. Option B is true .
How does the FDIC safeguard protected stores?Sadly, banks occasionally fail, but they occasionally fail in a functioning market. The FDIC is working for you when they do. There are numerous causes of bank failure. The chartering authority of the bank takes over in this situation to close the bank and appoint the FDIC as the deposit insurer. On the day of the failure, FDIC personnel are present to identify those who have insured bank funds. If another bank agrees to buy the failing bank, the transition for depositors and borrowers is typically relatively smooth. The FDIC maintains access to the insured funds of depositors even if there is no immediate buyer.
Nearly 3,500 financial institutions are directly examined and supervised by the FDIC. More than half of the banks in the United States are examined by our examiners to determine their operational stability and safety.
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An innovative business idea that no one has never had
An innovative business idea that no one has never had is Offering virtual assistance to other businesses.
What is innovative business idea ?innovative business idea can be described as an idea in business that cn be developed so that it can be a way to earn a living by providing the services or the goods to the consumer.
It should be noted that this innovation can be the one that no one has ever done or the modification of the one that has been in exisitence, however providing the virtual assistance serves as one of the innovation in business that can ring profit.
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Complete question:
State An innovative business idea that no one has never had
an entity has two long-term construction contracts, one of which qualifies for revenue recognition over time and the other which does not (and so requires revenue recognition upon completion of the contract). for either of these two contracts, what account would be debited when preparing the journal entry to record billings? qualifies does not qualify a. billings cash b. construction receivable construction receivable c. cash billings d. constructions in progress construction in progress
Construction Receivable is still owed to you when you have finished a task or rendered a service but have not yet been paid for it. Accounts receivable records the cash "to be received" (AR).
Receivable refers to the fact that the payment has not yet been realized. This implies that a credit line must have been made available to the clients by the business. Typically, the business accepts payment in cash and on credit for its products and services.
Trade accounts receivable notes and other receivables are the three main categories that makeup receivables. Credit managers and controllers in the construction and building material supply businesses should refer to this Accounts Receivable Management resource.
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I need some help on this please. Question is down below.
Answer:
A
Explanation:
Allows for the acquisition of varied merchandise
what typically prevents a company from being truly equitable?
To promote true equity, businesses should adopt inclusive employment practices, promote a diverse and inclusive workplace, ensure fair wage practices, these obstacles must be overcome by providing equal opportunities for employees.
Here are the several factors that prevents a company from being truly equitable are as follows-
Prejudice and Discrimination: Unconscious bias, overt discrimination, and organizational barriers can affect fairness within companies. These biases can affect hiring decisions, promotion opportunities, and resource allocation, resulting in unequal treatment and equal opportunity for employees.Lack of diversity and inclusion: Companies that lack diverse representation from different demographic groups can struggle to achieve equity. Without a diverse workforce, perspectives, experiences and voices can be excluded or marginalized, perpetuating inequalities within organizations.Pay disparity: Unequal wage practices can lead to inequality within companies. Gender, race, and other factors can influence wage disparities, leading to differences in compensation levels for employees doing similar work.Limited accessibility: Inequality can arise when certain employees encounter obstacles in accessing resources, benefits, or opportunities within the organization.Unequal Promotion Opportunities: Organizations that do not provide equal opportunities for career growth and advancement can perpetuate inequality. Factors such as biased advertising practices, limited mentoring or sponsorship programs, and exclusive networking opportunities can hinder the progress of underrepresented groups.To know more about equitable,
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Help me please, i’ll give brainliest and 15 points!!!!
Eight years ago you purchased an asset for $100,000 that has yielded a nominal capital gain of $30,000. If you sold the asset today, your inflation-adjusted capital gains would be zero due to inflation over the last eight years. The capital gains tax is 28 percent. If you sold the asset today your tax liability would be
Answer: $8,400
Explanation:
Tax liability for a year is computed on the nominal capital gain as of that year not the inflation-adjusted gain. As such, should the asset be sold today, the capital gains tax of 28% will be computed on the capital gain of $30,000 in the following manner;
= 28% * 30,000
= $8,400
A company in Maine sends lobsters to France What is Maine doing? Select three options
Answer:
Following are the answer to this question:
Explanation:
Some information is missing in the question. So, the correct choices can be described as follows:
i) practicing international trade
ii) exporting products
iii) participating in globalization
Maine has been globally traded because its, company transfers it's own goods at international frontiers when a client gives lobster with France in Maine. It exports products as its goods are manufactured in one nation, in this scenario the USA, is one other country, France in this case.Finally, it participates in the process of globalization because the company operates internationally by selling its products.Answer:
B. practicing international trade
C. exporting products
D. participating in globalization
Classify the following events as mostly systematic or mostly unsystematic and tell us why. Is the distinction clear in each case?
a) Short term interest rates increase unexpectedly
b) The interest rate a company pays on its short term debt borrowing is increased by its bank.
c) Oil prices unexpectedly decline
d) An oil tanker ruptures, creating a large oil spill
e) A manufacturer loses a multimillion dollar product liability suit
f) A Supreme Court decision substantially broadens producer liability for injuries suffered by product users
a) Unexpected increase in short-term interest rates is mostly systematic, impacting the economy.
b) Increase in a company's short-term debt interest rate by its bank is mostly unsystematic, specific to the company's borrowing arrangement.
c) Unexpected decline in oil prices is mostly systematic, impacting the energy industry and economies worldwide.
d) Oil tanker rupture and resulting oil spill is mostly unsystematic, specific to the individual tanker.
e) Manufacturer losing a multimillion-dollar product
a) Short-term interest rates increase unexpectedly: This event is mostly systematic. The increase in short-term interest rates is driven by macroeconomic factors and monetary policy decisions made by central banks. It affects a wide range of borrowers and lenders in the financial system, impacting the overall economy. The distinction between systematic and unsystematic is clear in this case, as it is a result of broader economic factors rather than specific circumstances or actions of individual entities.
b) The interest rate a company pays on its short-term debt borrowing is increased by its bank: This event is mostly unsystematic. The increase in the interest rate is specific to the company's borrowing arrangement with its bank. It is influenced by factors such as the company's creditworthiness, financial health, and the terms of the loan agreement. The distinction between systematic and unsystematic is clear in this case, as it pertains to a particular company and its specific financial arrangement.
c) Oil prices unexpectedly decline: This event is mostly systematic. The decline in oil prices is driven by factors such as global supply and demand dynamics, geopolitical events, and economic conditions. It affects the energy industry, economies, and consumers worldwide. The distinction between systematic and unsystematic is clear in this case, as it is a result of broader market forces rather than specific circumstances or actions of individual entities.
d) An oil tanker ruptures, creating a large oil spill: This event is mostly unsystematic. The rupture and resulting oil spill are specific to the individual oil tanker and its operations. It is influenced by factors such as maintenance practices, equipment failure, or human error. The distinction between systematic and unsystematic is clear in this case, as it is a localized incident with limited direct impact on the broader economy or market.
e) A manufacturer loses a multimillion-dollar product liability suit: This event is mostly unsystematic. The loss in the product liability suit is specific to the manufacturer and its product. It is influenced by factors such as product defects, negligence, or failure to meet safety standards. The distinction between systematic and unsystematic is clear in this case, as it pertains to a particular manufacturer's legal situation and does not have widespread implications for the broader economy or market.
f) A Supreme Court decision substantially broadens producer liability for injuries suffered by product users: This event is mostly systematic. The Supreme Court decision affects the legal landscape and establishes a precedent for producer liability. It has implications for businesses across industries and their potential exposure to liability claims. The distinction between systematic and unsystematic is clear in this case, as it stems from a legal ruling that affects a broad range of entities and has systemic implications for legal and business practices.
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The Gomez family bought a house for $450,000. They paid 20% down and amortized the rest at 5.2% over a 30-year period. Complete the following a) Calculate the monthly mortgage payment b) What is the total interest payed for the loan. Please show work.
To calculate the monthly mortgage payment and the total interest paid for the loan, we can use the following formulas:
Monthly Mortgage Payment Formula:
M = P * (r * (1 + r)^n) / ((1 + r)^n - 1)
Total Interest Paid Formula:
Total Interest = (M * n) - P
Where:
M = Monthly mortgage payment
P = Loan amount (principal)
r = Monthly interest rate (annual interest rate divided by 12)
n = Total number of payments (number of years multiplied by 12)
Given:
Loan amount (P) = $450,000
Down payment = 20% of $450,000 = $90,000
Loan amount after down payment = $450,000 - $90,000 = $360,000
Annual interest rate = 5.2%
Number of years (n) = 30
a) Calculate the monthly mortgage payment:
First, calculate the monthly interest rate (r):
r = (Annual interest rate / 100) / 12
r = (5.2 / 100) / 12
r = 0.00433
Now, substitute the values into the monthly mortgage payment formula:
M = $360,000 * (0.00433 * (1 + 0.00433)^(3012)) / ((1 + 0.00433)^(3012) - 1)
Using a financial calculator or spreadsheet, the monthly mortgage payment (M) is approximately $1,994.73.
b) Calculate the total interest paid for the loan:
Total Interest = ($1,994.73 * (30*12)) - $360,000
Using a calculator, the total interest paid is approximately $333,501.20.
Therefore, the monthly mortgage payment is approximately $1,994.73, and the total interest paid for the loan is approximately $333,501.20.
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To keep your system and the servers at work running efficiently, you should
delete all messages immediately after you read them
Osave important files you receive as e-mail attachments to your hard drive
O delete e-mail that you no longer need, particularly ones with large attachments
O empty your Deleted Mail folder
forward all long e-mails to a secondary e-mail account
To keep your system and the servers at work running efficiently, you should:
Save important files you receive as e-mail attachments to your hard drive.Delete e-mail that you no longer need, particularly ones with large attachments.Empty your Deleted Mail folder.What message should you delete?Save important files you receive as e-mail attachments to your hard drive: This will ensure that you have a copy of the file and can access it easily without having to search through your email every time.
Delete e-mail that you no longer need, particularly ones with large attachments: This will help to free up space on your email server and prevent it from becoming overloaded, which can slow down your system and affect its performance.
Empty your Deleted Mail folder: This will permanently remove any emails that you have deleted and free up space on your email server.
Therefore, options B, C, and D are correct, and options A and E are incorrect.
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In custom reports, what must metrics and dimensions share in order to report accurately?.
Answer:
Same scope
Explanation:
"specifies to which data the custom dimension or metric will be applied..." - Analytics Help
The fact that multiple generations often work together in family businesses provides which of the following advantages? A) They will have equal skills with technology B) Family dynamics will play a part in business relationships C) perspectives of diverse clients are more likely to be taken into consideration D) Family members from different generations are more likely to get along
Answer:
Explanation: B) Family dynamics will play a part in business relationships.
What does an invasion biologist study?
help me
Answer:
Invasion biology deals with invasive species. If an “invasive” species is defined as a species that spreads to the detriment of economic interests and public health, however, invasion biology could not be easily distinguished from pest management and public health sciences.
Explanation:
Which of the following terms is used in Word 2016 for reduced-size versions of images?
Your answer:
O Thumbnails
O Preview panes
0 Thumb drives
o Thumb documents
Answer: Thumbnails :)
Which of the following is not a valid FICO credit score?
A. 900
B. 600 C. 700
D. 800
Answer:
A. 900
Explanation:
FICO is an acronym for Fair Isaac Corporation, they create an accurate and reliable credit score of customers for use by lenders.
Basically, your FICO depends most on the amounts you owe and your payment history.
A credit score can be defined as a numerical expression between 300 - 850 that represents an individual's financial history and credit worthiness. Therefore, a credit score determines the ability of a borrower to obtain a loan from a lender.
This ultimately implies that, the higher your credit score, the higher and better it is to obtain a loan from a potential lender. A credit score ranging from 670 to 739 is considered to be a good credit score while a credit score of 740 to 799 is better and a credit score of 800 to 850 is considered to be excellent.
Hence, lenders look at the credit score of a loan applicant in order to ensure that the applicant is financially responsible and would be able to repay the loan at the agreed upon date.
In conclusion, a valid FICO credit score is between 300-850 i.e the maximum (highest) credit score is 850 and as such a credit score of 900 is invalid.
which of the following describes the term productivity
Productivity is the measurement of physical output relative to each unit of input, typically expressed in labour hours.
What is Productivity?
Productivity refers to the efficiency with which goods or services are produced. Productivity can also be expressed as a ratio of the entire output to a single input, the sum of all the inputs utilised in a production process, or the output per input, usually over a defined time period. The (aggregate) measure of labour productivity, using GDP per worker as an example, is the most common illustration. The selection of a productivity definition (including those that do not refer to ratios of output to input) depends on the goal of the productivity assessment and/or the availability of data. The main cause of variation across productivity metrics is frequently (directly or indirectly) connected to how the inputs and outputs are combined to produce such a ratio-type productivity indicator.
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which type of unemployment is described by the scenario below? a literary editor leaves her job in new york to look for a new job in atlanta.
The type of unemployment described in the scenario is frictional unemployment.
Frictional unemployment occurs when workers are in between jobs, either because they are searching for a new job or they have left their previous job and are looking for a new one. It is a type of temporary unemployment that is often voluntary, and can occur even in a healthy and growing economy.
In the scenario, the literary editor voluntarily left her job in New York and is now searching for a new job in Atlanta, which is an example of frictional unemployment. This type of unemployment is a natural part of the job search process and is often a sign of a dynamic and flexible labor market.
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Is eating a tomato bias?
Answer:
hindi ko po maintindihan ang tinatanong nyo
Explanation:
sa susunod po kumpletuhin nyo para masagut ko ang tanong mo
What is the purpose of the sinking fund?
The purpose of a sinking fund is to set aside money over time to repay a debt or fund future obligations. It involves making regular contributions into a separate account or fund, which is dedicated to fulfilling specific financial commitments.
A sinking fund serves multiple functions. Firstly, it ensures that funds are available when a debt or obligation becomes due, reducing the risk of default or financial strain. By setting aside money in advance, organizations or individuals can avoid sudden liquidity issues or the need to borrow additional funds. Secondly, a sinking fund can help manage and reduce debt over time. By consistently contributing to the fund, the debt balance can be gradually reduced or completely eliminated when the obligation matures. This can lead to improved financial stability and lower interest expenses.
Overall, a sinking fund provides a structured approach to financial planning by allocating resources towards future financial obligations. It offers a proactive strategy to meet debt repayment or other financial commitments, reducing risk and promoting long-term financial health.
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Type the correct answer in the box. Spell all words correctly.
In which closing technique does a salesperson respond to a customer's question with a counter question to close the sale?
In a __________ close, a salesperson's objective is to respond to a customer's question with a counter question that might help close
In a
the sale quickly
Answer:porcupine close
Explanation:
On page 23 of the Plato work
kimmy is the assistant manager in the marketing communications area. last week, she was given the additional responsibility of overseeing the work of the public relations department. this is an example of .
Kimmy is the assistant manager in the marketing communications area. Last week, she was given the additional responsibility of overseeing the work of the public relations department. This is an example of job enlargement.
Job enlargement approach growing the scope of a job via extending the range of its activity duties and duties normally within the identical stage and periphery.
Task expansion includes combining diverse sports to the same degree inside the corporation and including them in the prevailing process.
The definition of job enlargement is including extra sports within the same stage to a present position.
This means that a person will do greater, distinct sports of their current process.
As an example, an employee who will now additionally control her very own making plans wherein this became previously finished by using her manager.
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what can we best determine from the $179.4 million auction price for a cubist painting by pablo picasso?
The most accurate reflection of the cubist painting's market value at the time it was purchased is its $179.4 million auction price.
What is an auction?In most cases, purchasing and selling items at an auction involves putting them up for bids, receiving bids, and either selling the item to the highest bidder or purchasing it from the lowest bidder.
Existing exceptions to this rule are discussed in the section devoted to other types.
Auction theory is the area of economic theory that examines different forms of auctions and the actions of bidders.
The open ascending price auction, which has been utilized throughout history, is possibly the most popular type of auction.
The $179.4 million auction price for a Pablo Picasso cubist painting is the best indicator of the painting's economic value at the time it was purchased.
Therefore, the most accurate reflection of the cubist painting's market value at the time it was purchased is its $179.4 million auction price.
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3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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A competitive matket for Good Xis in equilibrium, If the price temporariv rises above the equi prium price: Select one a. the change in producer surplus is indeterminate. b. there will be no change in producer surplus: c. produce surplus will fati. d. producer sulplus will rise.
(d) producer surplus will rise.
In a competitive market, the equilibrium price is determined by the intersection of the demand and supply curves. At the equilibrium price, the quantity demanded equals the quantity supplied, and both consumers and producers are satisfied.
If the price temporarily rises above the equilibrium price, it means that the actual price is now higher than the equilibrium price. This situation will lead to an excess supply of the good, as producers are willing to supply more at the higher price than consumers are willing to demand.
When there is excess supply, producers have the opportunity to sell their goods at a higher price, which increases their producer surplus. Producer surplus represents the difference between the price at which producers are willing to supply a good and the actual price they receive.
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In a market with a binding price ceiling, increasing the ceiling price will.
In a market with a binding price ceiling, increasing the ceiling price will increase the quantity supplied, decrease the quantity demanded, and reduce the shortage.
What is a Price Ceiling?This refers to the highest price to which a good can be sold and this is used to protect the consumers from having to buy a good at very expensive prices.
Hence, we can note that in a market with a binding price ceiling, an increase in the ceiling price will increase the quantity supplied, decrease the quantity demanded, and reduce the shortage.
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3. Businesses not associated with the government are referred to as what type of jobs?
a. Public Sector
b. For Profit Sector
C. Private Sector
d. None of the above
Answer:
Private Sector
Explanation:
I'm fairly confident this is it, but I'm not too sure. Sorry to disappoint
A house was valued at $190,000 in the year 1988. The value appreciated to $250,000 by the year 2003. What was the annual growth rate between 1988 and 2003? assume that the house value continues to grow at the same rate. What is the value of the house in the year 2010?.
The finishing value of an investment or asset is divided by the asset's initial value in the yearly growth rate formula. You get a decimal point that can be converted into a percentage when you take one out of this amount.
What is an asset?In its German translation, the word "asset" has multiple meanings, including "wealth," "fixed assets," or "capital investments in the economy," as well as "real estate," "goods," "skills," and "assets."
Assets are typically things that belong to one particular group.
Therefore, in the world of digital marketing, digital marketing assets are precious commodities. They are assets because they help their owners conduct more successful digital marketing, to put it another way.
Fixed assets are assets that a business uses for a longer period of time. key business field, or a company's core competency. (See media content) Content (data, files, and media) in content management.
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H&M limited has a project which is expected to have a payout of $65 million in 15 years. The discount rate H&M is using is r = 7%. However, this may have a relative error of up to 13%. What is the relative error in the present value of the payment? a. $3.99 million b. $3.01 million c. $4.87 million d. $2.15 million e. None of the above
The relative error in the present value of the payment is $4.87 million. Hence, option (C) is correct.
Explanation:
To calculate the present value of the payment, we can use the formula for present value:
PV = (Payout)/(1+r)nPV = 65 million/(1+7%)^15PV = 21.03 million
Now, we will calculate the relative error.
Relative error = Maximum error / Calculated valueMaximum error = Calculated value x Relative error in percentageMaximum error = 21.03 million x 13%
Maximum error = 2.734 millionRelative error = Maximum error / Calculated value
Relative error = 2.734 million / 21.03 million
Relative error = 0.13
The relative error in the present value of the payment is 13%.
After calculating, we find that the relative error in the present value of the payment is approximately $3.87 million. None of the given options match this value, so it seems there was a typographical error in the options. The closest value is $4.87 million.
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