The December 31, 2021, post-closing trial balance for Strong Corporation is presented below: Accounts Debit Credit Cash $ 23,300 Accounts receivable 23,100 Prepaid insurance 4,600 Supplies 190,000 Long-Term Investments 52,000 Land 45,000 Buildings 275,000 Accumulated depreciation 86,000 Accounts payable 37,400 Notes payable, due 2022 62,000 Interest payable 12,000 Notes payable, due 2031 129,000 Common stock 180,000 Retained earnings 106,600 Totals $ 613,000 $ 613,000 Prepare a classified balance sheet for Strong Corporation at December 31, 2021.
Answers
Answer and Explanation:
The balance sheet is shown below:-
Current assets Current liability
Cash $23,300 Accounts payable $37,400
Accounts
receivable $23,100 Notes payable due
Prepaid 2022 $62,000
Insurance $4,600 Interest payable $12,000
Supplies $190,000 Total current liabilities $111,400
Total Current Long term liabilities
assets $241,000
Long term Notes payable due 2031 $129,000
Investments $52,000
Property plants and
equipment
Land $45,000 Stockholders Equity
Building $275,000 Common stock $180,000
Less: Accumulated Retained Earnings $106,600
Depreciation $86,000
Property plants and Total stockholder equity $286,600
equipment $234,000
Total assets $527,000 Total Liabilities
and Stockholders’ Equity $527,000
Therefore the total assets is $527,000 while the total liabilities and stockholder equity is $527,000
Related Questions
Prompt
Discuss the differences between a wage, a salary and a commission.
Answers
Wages are based on the amount of time spent working and the amount of work performed during that time. Salary is more akin to a set sum. The major distinction between salaries and wages is this.
Explain the differences between a wage, a salary, and a commission.A wage is given after a certain number of hours or after the task has been done. Because a salary is frequently paid monthly regardless of how much labor you put in, it is comparable to a fixed income. You receive the whole amount up front when you complete the work for a commission. This is the method through which creative individuals, such as musicians and painters, profit from their work.
What does it imply to talk about earnings and salary?While wages are remuneration for labor services often provided and expressed in hourly rates, salaries are analogous payments that are declared in weekly, monthly, or annual rates. The regular payment made to a worker or employee in return for their effort during the manufacturing process is known as a "wage" (or "pay").
What is the purpose of a business commission?Depending on the sales they produce, employees may get commission, often known as sales commission. The generation of invoices is free with SumUp Invoices. Often, a commission is calculated as a percentage of the sale's price.
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When the money market is drawn with the value of money on the vertical axis, if the price level is below the equilibrium level, there is an
A. excess demand for money, so the price level will rise.
B. excess demand for money, so the price level will fall.
C. excess supply of money, so the price level will rise.
D. excess supply of money, so the price level will fall.
Answers
Answer:
A.
Explanation:
The value of money will rise so A, excess demand for money, so the price level will rise.
When the money market is drawn with the value of money on the vertical axis, if the price level is below the equilibrium level, there is an excess demand for money, so the price level will rise. Hence, option A is appropriate.
What is the meaning of the money market?Bank accounts, including term certificates of deposit, interbank loans (loans between banks), money market mutual funds, commercial paper, Treasury bills, and securities lending and repurchase agreements are among the items traded in money markets (repos).
A part of the economy that offers short-term funding is the money market. Short-term loans are often made on the money market for a year or less.
Short-term Treasury securities, such as T-bills, certificates of deposit (CDs), commercial paper, repurchase agreements (repos), and money market mutual funds whose investment in these assets are some of the different types of securities that make up the money market.
Local and foreign traders that require quick access to funds can get it through the money market. It offers a provision for bills of exchange to be discounted, which enables quick financing for the purchase of goods and services. The acceptance houses and discount marketplaces are advantageous to international dealers.
Hence, option A is correct.
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As marketing manager for the new Jump! athletic shoe company, you have a lot of work to do in order to compete with athletic shoe giants like Nike and Adidas. Though your company makes various kinds of athletic shoes, they want to build their brand around basketball shoes. Your marketing campaign must be top notch, and probably feature an up-and-coming basketball star. Nike has LeBron James and Adidas has Derrick Rose. You need to find someone who is a rising, personable star – but not yet a spokesperson for a competitor. Jayson Tatum is your pick, based on his three-point percentage and smart team defense, two talents you will feature in your advertising. It’s been a year since you introduced Jump! shoes and hired Jayson Tatum as your spokesperson. The launch was successful, and working with Tatum has been a very positive experience. Your next move is to decide what to change in your promotion mix. What worked well last year may not work as well this next year. Which three of the following influences will likely lead to changes in the amount of resources you dedicate to each component of the promotions mix?
a. Tatum and the Celtics agree to rookie contract.
b. Your target audience has not changed, but you want to reach a much larger audience segment.
c. The company has grown, so marketing budgets have grown as well.
d. Last year you wanted to build brand awareness, this year you want to seize market share.
Answers
Evaluate Microsoft’s products recent expansions into areas as search engines and smart phones. Do you think these is good areas of growth for Microsoft? why or why not?
Answers
The recent expansions of Microsoft's products in areas such as search engines and smartphones was a strategy for the company to enter a technological market and expressive growth in the global market, with the insertion of the brand's smart phones in the market.
Microsoft's insertion in the mobile telephony area was a strategy that did not achieve the expected results, being unsuccessful due to the consolidation of strong competing brands, such as Samsung and Apple.
The entry into the search engine market was also ineffective, as the strongest competitor in the market, invests heavily in innovation, leaving the Microsoft Bing product without a chance of competitiveness.
What is the effective strategy for Microsoft?Analyzing the attempts to enter late in highly competitive markets and with strong brands, Microsoft must then focus on its main product, which are Windows operating systems, and diversify its products and services in those already consolidated in the market and innovate them to be successful.
Therefore, any insertion of a brand in a new market is a risky strategy that can be successful or not, and there must be a high level of planning to reduce negative risks.
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Supply chain management involves actively planning and controlling the
activities in a supply chain in order to achieve minimum costs and maximum___
A. speed and quality
B. channel length
C. speed and size
D. channel power
Answers
Answer:
The answer is (A) Speed and Quality
Explanation:
I just took the quiz
In order to attain the lowest costs, highest speed, and highest quality, a supply chain's activities must be actively planned and managed. Therefore, the correct fill-in is given in option (A): "Speed and quality."
What tasks go under supply chain management?The process of getting a product from raw material to a consumer is called supply chain management.
Supply management, demand and product planning, operations and sales planning, and supply planning are all included.
When businesses discuss supply chain speed, they typically refer to how rapidly they can introduce new products to the market.
Speed-to-market is one of the two top goals organizations have today for delivering effective new product launches, according to Gartner's analysis of numerous surveys.
The procedures used by businesses to evaluate, keep track of, and proactively manage the quality of the goods and procedures in the supply chain are known as supply chain quality management.
It is used to increase on-time delivery, shorten cycle and lead times, and establish a more reliable supply chain.
Therefore, as a result, option (A): "speed and quality" is the correct answer.
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The year is 2022 and today is July 1 (by assumption). You plan to fly from Newark to Amsterdam on August 2 and return on August 25. Today you can buy a one-way ticket for $350 or a round-trip ticket for $660. You could also wait until August 1 to buy your tickets. On August 1, a one-way ticket in either direction will cost $370, and a round-trip ticket will cost $730. Between July 1 and August 1, there is a 30% chance that your best friend will be able to provide you with a free one-way ticket as a present. If you buy a round-trip ticket on July 1 for $660 and your friend provides a free ticket, then you can return the second half of your round-trip ticket to the airline, after paying a $50 penalty. In this case, your net travel cost will become $380. Develop a decision tree to determine how to minimize your expected travel cost. Find the optimal policy.
Answers
The optimal policy will be to book a round-trip ticket.
Based on the information given, there is a 30% chance that my best friend will be able to provide you with a free one-way ticket as a present. This will be represented on the decision tree as 0.3.
Therefore, the probability that I will not get a free ticket will be 0.7 which is calculated as 0.3 subtracted from 1.
The cost of booking the return ticket on August 1st will be:
= 350 + 370
= 720
In conclusion, the minimum expected travel is $576. The optimal strategy will be to book the round ticket now. An attachment has been attached for further understanding.
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Stys Company's payroll for the year is $1,210,930. Of this amount, $510,710 is for wages paid in excess of $7,000 to each individual employee. The SUTA tax rate for the company is 3.2% on the first $7,000 of each employee's earnings.
Answers
Answer:
A. $4,201.32
B. $22,407.04
Explanation:
a. Calculation for The amount of FUTA tax for the year
FUTA tax= ($1,210,930-$510,710) *0.006
FUTA tax = $700,220 * 0.006
FUTA tax= $4,201.32
Therefore The amount of FUTA tax for the year is $4,201.32
b. Calculation for The amount of SUTA tax for the year
SUTA tax=($1,210,930-$510,710) *0.032
SUTA tax = $700,220 * 0.032
SUTA tax= $22,407.04
Therefore The amount of SUTA tax for the year is $22,407.04
A circuit contains two 90 Ω resistors connected in parallel. What's the total circuit resistance?
Answers
Answer:
45ohms
Explanation:
Total resistance in parallel can be calculated by the addition of both resistors
1/R= 1/R1 + 1/R2
The value given are
R1= 90 ohms , R2= 90 ohms
1/R = 1/90+1/90
Take the LCM of both denominators
1/R = 2/90
1/R = 1/45
Cross multiply both sides
R×1 = 45×1
R= 45 ohms
Thus, the total reistance is 45 ohms
Answer:
Total circuit resistance = 45ohms
Explanation:
Given that R1 = 90 and R2 = 90
Rt = total circuit resistance
Resistance in parallel:
Resistance in parallel is found by:
1/Rt = 1/R1 + 1/R2
1/Rt = 1/90 + 1/90
Take the L. C. M and simply
1/Rt = (1 + 1) / 90
1/Rt = 2 / 90
1/Rt = 1/45
Rt = 45 ohms
Total circuit resistance = 45ohms
The additional components of the marketing mix for marketing a service does not include which of the following?
people
process
popularity
physical environment
Answers
The marketing mix comprises four primary elements: product, price, promotion, and place. However, when marketing services, some additional components are added to the mix. These components are known as the 7Ps of marketing and include people, process, and physical evidence (or physical environment).
Popularity, on the other hand, is not a component of the marketing mix for services. Popularity can be considered a byproduct of the marketing efforts and how successful they are in promoting the service to the target audience. Popularity is a measure of how well a service is known or recognized in the market.
People: This component of the marketing mix is concerned with the people involved in the delivery of the service. These people include the employees, staff, and other personnel involved in providing the service to the customers. These people are critical to the success of the service and need to be trained, managed, and motivated to provide excellent service.
Process: This component of the marketing mix is concerned with the procedures and processes involved in the delivery of the service. The process should be designed to ensure that the service is delivered consistently and efficiently, meeting the needs and expectations of the customers. A well-designed process can enhance the customer experience and help in creating a positive perception of the service.
Physical Environment: This component of the marketing mix is concerned with the physical environment in which the service is delivered. This environment can include the ambiance, decor, lighting, and other factors that contribute to the customer experience.
A well-designed physical environment can enhance the customer experience and contribute to the success of the service.
Popularity: Popularity can be considered a byproduct of the marketing efforts and how successful they are in promoting the service to the target audience. Popularity is a measure of how well a service is known or recognized in the market.
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After making a down payment on a car loan, you can expect to pay back:
A. The principal minus the interest
B. The principal plus interest
C. The down payment plus interest
D. The simple interest but not the
compound interest
Answers
After making a down payment on a car loan, you can expect to pay back B. The principal plus interest.
What is a car loan?A car or auto loan is a loan that a customer borrows from an auto shop or finance company to pay for a car purchase. A car loan may allow a down payment, which is a percentage of the list price of the car.
After the down payment, the customer is expected to continue paying interest and principal on the balance.
Thus, after making a down payment on a car loan, you can expect to pay back Option B.
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Answer:
B. The principal plus interest
Explanation:
In Section 3.4, the text discusses the “Top 5 Challenge Trends” and “Top 5 Solution Trends.” Select one challenge and one solution trend which you believe is most applicable to Coke’s situation today. Describe how these trends apply to Coke. In Section 3.3, read about the five building blocks of a Learning Organization. Which one of the five building blocks should Coke focus on to capitalize on the trends you selected. Why?
Answers
The challenges that Coca-Cola is facing are due to less quality water and the availability of the material for making the bottles.
From the complete information, it was stated that maintaining high-quality water and the maintenance of taste is essential to create quality drinks.
The challenges that were depicted are due to less quality water and the availability of raw materials. Also, there are challenges for increasing concern for the environment, faster pace of innovation, etc.
The solutions to the challenges include increasing collaboration, protection of the environment, energy sustainability, etc. It's also vital for individuals to be advised about the usage of water.
In conclusion, the building block that Coke should focus on to capitalize on the trend is systematic problem-solving.
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Glasgow Enterprises started the period with 80 units in beginning inventory that cost $7.50 each. During the period, the company purchased
inventory items as follows:
Glasgow sold 220 units after purchase 3 for $17.00 each.
What is Glasgow's ending inventory under LIFO?
Answers
$2,340 is Glasgow's ending inventory under LIFO.
LIFO stands for “Last-In, First-Out”. It is a method used for the purpose of assuming cost flows when calculating the cost of goods sold. The LIFO method assumes that the newest products added to the company's inventory are sold first.
In times of rising prices, it may be beneficial for companies to use LIFO versus FIFO cost accounting. Under LIFO, businesses can save on taxes and also better align their income with the latest costs when prices rise. International Financial Reporting Standards (IFRS).
The order in which an element is added to or removed from the stack is described as last in, first out, abbreviated as LIFO.
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Tahani is explaining to her mother why transferable skills are important in career planning. What is the BEST way to explain transferable skills?
Answers
The best way to explain transferable skill is Transferable skills, or portable skills, are all the skills that you take with you from one job to another. The ability to clearly communicate ideas to others, solve unexpected problems, or work well in a team are all examples of transferable skills.
Transferable skills, also known as portable skills, are any skills that you can take from one job to another. Transferable skills include the ability to clearly communicate ideas to others, solve unexpected problems, and work well in a team.
While technical skills enable you to complete specific technical tasks, such as coding in Python or creating wireframes for UX design, transferable skills ensure that you do your job well. As a result, employers highly value transferable skills: after all, a programmer who can work well in a team is likely more valuable than a programmer who cannot code well with others.
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NASAA's Model Rule on Unethical Business Practices of Investment Advisers, Investment Adviser Representatives, and Federal Covered Advisers deems all of the following as unethical practices for investment advisers EXCEPT A) inability or unwillingness to disclose sources of additional fees received from those other than the customer in connection with providing advisory services to that client B) performing the initial trades in a new discretionary account with oral authorization C) charging advisory fees that are significantly higher than those charged by other advisers for similar services in that state D) recommending a security based on a rumor
Answers
1. “Strategic Management cannot be a rigid, step-wise collection of few activities arranged in a sequential order”. Discuss
Answers
Strategic Management cannot be a rigid, step-wise collection of few activities arranged in a sequential order because it is a it is a continually evolving mosaic of relevant with iterative process.
What is the discussion on Strategic Management?The constant planning, monitoring, analysis, and assessment of all requirements that a company requires to accomplish its goals and objectives is known as strategic management. Organizations will have to reevaluate their success methods on a regular basis as a result of changes in the business environment.
Setting policies, procedures, and goals in order to increase a company's or organization's competitiveness is the process of strategic management. Strategic management typically focuses on efficiently allocating personnel and assets to accomplish these objectives.
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How does your experience with leadership and management compare with the case of
Starbucks?
Answers
The correct answer to this open question is the following.
Although you did not attach any text, article, or lecture about the leadership of Starbucks, we can comment based on our knowledge of this topic.
Starbucks is known to have a very good internal leadership program to train its employees so they can develop leadership skills that can be applied in the workplace and in the thousands of shops in the United States and around the world.
My experience with leadership and management compared with the case of Starbucks is similar but has considerable differences. One of those differences is that in my experience, some leaders base their teachings on teaching employees to confront adverse moments in real situations.
Most of the leadership training programs follow the traditional academic approach in the "classroom." And that is ok. However, facing real-life cases is a more effective approach.
Another difference is that these leaders set the example of the conduct they want to see in the organization. So it is not only a matter of having good teachers or consultants in leadership programs. It is the directors and managers who set the example for others to follow.
Which of the following situations involves
professional literature?
An employee borrows an industry magazine
to read a story about a new machine in his
department.
An employee is coached by a supervisor on
a new machine in his department.
An employee takes an online course about a
new machine in his department.
Answers
Answer:
An employee borrows an industry magazine
to read a story about a new machine in his
department.
Explanation:
I need a an idea of followership introduction help me!
Answers
Followership refers to the role, behavior, and actions of individuals who are not in a leadership position, but rather, they support and collaborate with their leaders to achieve shared goals. Followership is an essential aspect of organizational success, as it complements leadership and fosters a harmonious work environment.
Effective followers exhibit characteristics such as being proactive, taking responsibility, and engaging in open communication with their leaders. They also possess the ability to think critically and provide valuable feedback for the betterment of the team. By embracing the principles of followership, individuals contribute positively to the overall performance and morale of the organization.
It is important to note that followership does not imply blind obedience or passivity. Instead, it involves active engagement and collaboration with leaders to achieve common objectives. In this dynamic relationship, leaders and followers must work together, learn from each other, and adapt to changing circumstances.
In conclusion, followership is a vital component of successful organizations and plays a significant role in accomplishing shared goals. By cultivating strong followership skills, individuals can effectively support their leaders, enhance team performance, and contribute to the growth and success of the organization.
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For which corporate structure is income and/or losses from the company reported through a means OTHER than personal tax returns?
Answers
The answer is Limited partnerships are type of corporate structure in which income and/or losses from the company reported through a means OTHER than personal tax returns.
Profits are passed through to personal tax returns, and the general partner the partner without limited liability, must also pay self-employment taxes.
Why Do We Pay Taxes?Government programs like Social Security and Medicare as well as public infrastructure and services like roads and schools are funded by tax income.
What does economics use as an example of taxation?Taxes are levied on tangible property, such as real estate and business deals like the sale of stocks or the purchase of a home. Taxes might be in the form of income, corporate, capital gains, property, inheritance, or sales taxes.
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From the picture below, the marketing vice president is interested in the revenue numbers broken down by month, division, customer demographics, sales office, product version, and plan. These are her business dimensions along which she wants to analyze her numbers.
Question: In the case of Marketing Manager and Financial controller, what are their business dimensions they analyze their numbers?
Answers
The business dimensions to be analyzes by the Marketing Manager and Financial controller includes:
profitabilityliquiditysolvencyefficiencyvaluation.Who is a Marketing Manager & Financial controller?Marketing Manager are those managers that specializes in the development of marketing strategies for their organizations while the Financial controller is a top-hierarchy manager that oversees and controls the firm's day-to-day financial operations.
The main role of the Marketing Manager is to promote the firm's business, product, service etc while the main role of the Financial controller is to records and manages the accounting function.
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what is micro economy
Answers
Example:
How a local business decides to allocate their funds. How a city decides to spend a government surplus. The housing market of a particular city/neighborhood. Production of a local business.
Which of the following sector has seen the biggest change in its target market demographics?
O cruise line sector
O lodging sector
O car rental sector
O foodservice sector
Answers
Answer:
The correct answer is the cruise line sector.
Explanation:
However, the average age of cruise passengers in North America, as well as their income, has been dropping since the early 1970’s.
can u solve this plsss
Answers
The main reason why the Japanese liberalized the bank mergers in Japan was to protect the economy and prevent an economic crash.
What is Financial Liberalization?This refers to the removal of regulatory control in the financial sector to promote economic growth.
The government of Japan faced an economic crash that threatened to cripple the economy due to stock market crash, failing banks, etc and there was the use of risk-based capital to try and prevent this, amongst other solutions.
Hence, we can see that the key aspects of the liberalization program were:
MergersAcquisitions.The key criticism of the program is that it failed to address the scale of the problem and the solution was only short-term.
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List three pieces of criteria that economists use to determine if someone is employed
Answers
Answer:
The summary as per the given query is summarized below.
Explanation:
The criterion used by economists to decide whether the individual was working wasn’t employed.Employees hold down jobs for full as well as part-time pay where they already haven't a job and therefore are provisions of these terms for work even though they are unemployed.The labor force seems to be the number among all jobs working as well as unemployment.Drag the tiles to the boxes to form correct pairs.
Henry's company has just finished publishing the final batch of their monthly magazine. Henry is supposed to make sure that the finished magazines
reach the distributors. He has been told about the stages involved in this deployment. However, he is unsure about the processes that take place in
those stages. Match the stages to the work done in them to help Henry.
All rights reserved.
storing
preparing
wrapping
loading
JOLL
The output is divided into different sections.
The boxes and crates are transferred onto the transportation.
The output is packaged into boxes and crates.
The output is kept in a cool and dry place.
Σ
O
Answers
A magazine, also called a periodical, is a printed or digitally published collection of texts (essays, articles, stories, poems), often illustrated, that is produced at regular intervals (excluding newspapers).
What is the meaning of a magazine?A magazine, also known as a periodical, is a printed or digitally published compilation of texts (essays, articles, short tales, and poems), frequently illustrated (excluding newspapers).
The word "magazine" originates in Arabic magazine, the plural of makhani, which means "depot, storeroom" (originally a military storehouse). Medieval French magasin and Italian magazzino are the languages that brought this word to English. The word "magazine" originally meant a place or thing used for storing.
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Which of the following are frequently mentioned goals of the Federal Reserve? Check all that apply.
Answers
Answer:
Stability in the financial system
– Price stability—fighting inflation
– Full employment
– Economic growth
– Interest rate stability
– Currency stability
what are the major elements of market management? list them in 5 points.
Answers
Answer:
brain busters
Explanation:
its the answer coz i said it was
A ___ is a tax on imported goods. A ___ is a quantitative restriction on imported goods.
Cost,subsidy
Regulation, standard
Tariff,quota
Answers
Utility line workers may need to tolerate heights.
OA.
True
OB.
False
Answers
Answer:
true
Explanation:
they need to go high
Answer:
true
Explanation:
COST OF COMMON EQUITY WITH FLOTATION Ballack Co.’s common stock currently sells for $46.75 per share. The growth rate is a constant 12%, and the company has an expected dividend yield of 5%. The expected long-run dividend payout ratio is 25%, and the expected return on equity (ROE) is 16%. New stock can be sold to the public at the current price, but a flotation cost of 5% would be incurred. What would be the cost of new equity?
Answers
Based on the stock price of Ballack Co., the dividend, and the growth rate, the cost of new equity is 17.26%.
What is Ballack Co's cost of new equity?This can be found as:
= (Next dividend / (Current price x (1 - floatation cost) ) + Growth rate
Solving gives:
= ( (46.75 x 5%) / (46.75 x ( 1 - 5%)) + 12%
= ( 2.33 / 44.41) + 12%
= 17.26%
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