Answer:
Identifying and typing resource
Explanation:
Measurable defined or stated as the capabilities as well as the levels of the performance, resources are identified or recognized and the basis for every category.
The resources comprise of the following kinds or types, which are equipment, aircraft, teams, vehicles and supplies.
Resources are the categories of the typing through the capability, the mobilized the incident management and the response.
Therefore, the identifying and the typing resource is the resource management activity.
Identifying and Typing Resources is the resource management activity that establishes common definitions for capabilities of personnel, equipment, teams, supplies, and facilities. This standardization helps communicate resource needs effectively across teams and organizations, aiding in the better organization, allocation, and utilization of resources.
Explanation:The resource management activity that establishes common definitions for capabilities of personnel, equipment, teams, supplies, and facilities is known as Identifying and Typing Resources. It's a crucial step in resource management that helps in interpreting resource needs effectively. By creating a standardized set of characteristics and associated performances, teams and organizations can communicate their needs appropriately.
For example, a team may identify and type the resources needed for a construction project. They might specify the number of workers, types of machinery, quantity of construction materials, and various facilities needed like transport, storage, etc. By providing clear definitions, they are setting an expectation of what is required to successfully complete the project. This facilitates better organization, allocation, and utilization of resources.
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On November 15, Meier Company received $3,000 cash from a customer for services that were performed on November 1. According to the Revenue Recognition Principle, on which date should the revenue be recorded?
Answer:
November 1
Explanation:
As per generally accepted accounting principles (GAAP), when the goods or services are delivered the revenue should be recorded and the transaction done in all respects.
The principle of revenue recognition occurs when the revenue is realized or earned, whether cash is obtained or not and it also meets the accounting accrual basis. Realizable here means that the consumer receives the product but the payment is made later.
Therefore, the revenue should be recorded on November 1
Final answer:
Revenue should be recognized according to the Revenue Recognition Principle when it is earned, which in this case is on November 1, when the services were performed, not on the date of cash receipt.
Explanation:
Revenue Recognition Principle
According to the Revenue Recognition Principle, revenue should be recognized when it is earned, regardless of when the cash is received. Since the services were performed on November 1, it is on this date that the revenue should be recorded. This aligns with the accrual basis of accounting which states that the effects of transactions and other events are recognized when they occur, not necessarily when cash is received or paid.
The Revenue Recognition Principle is an essential concept in accounting which ensures that financial statements provide a faithful representation of a company's financial performance. The customer's payment on November 15 is unrelated to the timing of revenue recognition for the services that were performed on November 1.
________economy is an economy in which most economic decisions result from the interaction of buyers and sellers in markets but in which the government plays a significant role in the allocation of resources.
Answer:
A mixed Economy
Explanation:
A mixed economy is system which combines parts or aspects of socialism and capitalism in that while it allows a certain level of freedom to utilise capital, it also protects governmental interest by allowing a degree of interference by the government in the national economic activities.
The reason for governmental interference which is an aspect of socialism is to allow the government achieve social aims and objectives. The freedom to utilise capital is part of capitalism and this aspect is governed by the interactions of economic factors such as demand and supply and the interaction between buyers and sellers.
It is not purely socialism because government does not have absolute control and it is not pure capitalism because the forces of the market do not have all controls over the allocation of all resources.
If output is above its natural rate, then according to sticky-wage theory_____________.
a. workers and firms will strike bargains for higher wages. This increase in wages shifts the short-run aggregate supply curve left.
b. workers and firms will strike barg
Answer:
Option A
Explanation:
workers and firms will strike bargains for higher wages. This increase in wages shifts the short-run aggregate supply curve left.
Final answer:
According to sticky-wage theory, if output is above its natural rate, workers and firms will negotiate for higher wages, leading to an increase in production costs and a leftward shift in the short-run aggregate supply curve.
Explanation:
If output is above its natural rate, then according to sticky-wage theory, workers and firms will strike bargains for higher wages. This increase in wages shifts the short-run aggregate supply curve left. In the context of macroeconomic theory, particularly the sticky-wage theory, when output exceeds its natural rate, the labor market experiences a shortage, leading to increased competition among employers for workers. This competition results in higher wages, which, since wages are a significant input cost for many firms, leads to an increase in production costs across the economy. As a direct consequence, firms reduce their output, causing the short-run aggregate supply (SRAS) curve to shift to the left. This leftward shift in the SRAS curve signifies a decreased quantity of goods and services supplied at any given price level, heading towards a new equilibrium where the real GDP aligns closely with its natural rate, albeit at a higher price level, indicating inflationary pressures.
On October 1, 20X4, Shaw Corp. purchased a machine for $126,000 that was placed in service on November 30, 20X4. Shaw incurred additional costs for this machine, as follows: Shipping $ 3,000 Installation 4,000 Testing 5,000 In Shaw's December 31, 20X4 Balance Sheet, the machine's cost should be reported as:
Answer:
$138,000
Explanation:
The computation of the machine cost that would be reported is shown below:
= Purchase value of machine + shipping cost + installation cost + testing cost
= $126,000 + $3,000 + $4,000 + $5,000
= $138,000
At the time of reporting the machine cost, we have to consider all the cost that is related to the machine. Therefore, all the given cost is considered.
Entrepreneurs emphasize the importance of believing in your own ideas because in the process of developing those ideas you are likely to hear from skeptics. Characteristically, they also know that success or failure is "on them." These attributes are described as _____________.a) action-oriented and highly energeticb) self-directed and self-nurturingc) self-contained and self-centeredd) a high-stakes roller and highly energetic
Answer:
Entrepreneurs emphasize the importance of believing in your own ideas because in the process of developing those ideas you are likely to hear from skeptics. Characteristically, they also know that success or failure is "on them." These attributes are described as self-directed and self-nurturing
Explanation:
It is pertinent to note that, every entrepreneur must be self direct i.e generate their ideas themselves and got motivated while nurturing such idea to manifest into big ways
Entrepreneurs display self-directed and self-nurturing attributes as they take calculated risks and rely on their own belief in their ideas for success.
b is correct
Explanation:Entrepreneurs emphasize the importance of believing in their own ideas, despite the skepticism they might face. They are aware that the ultimate responsibility for success or failure lies with them.
These attributes can best be described as self-directed and self-nurturing. Entrepreneurs take calculated risks, and before investing in any project, they assess the risks against potential benefits. They are visionaries who use their insight and dedication to transform concepts into reality, thereby contributing to the marketplace with innovative products or services.
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Marx argued that when workers are paid less than the value of their labor, this exploitation results in __________, a feeling of powerlessness and estrangement from other people and from oneself. Select one: a. alienation b. anomie c. class conflict d. bourgeoisie
Answer:
Alienation
Explanation:
This is because when they are paid less than what their labour produced, they find themselves in a position where they are not entitled to their labour. They are in a state where their labour is alien to them. They have no power over the production process. It is directed and controlled by the bourgeoisie. They are bound to do labour, over which they have no control, for the sake of survival. This means that they are not in control of their action (alienation from self) and so on.
Workers experience alienation when they are paid less than the value of their labor, which results in powerlessness and estrangement from others and oneself. Alienation is a consequence of living in a socially stratified society, as workers do not feel connected to their work or to one another.
Explanation:Marx argued that when workers are paid less than the value of their labor, this exploitation results in alienation, a feeling of powerlessness and estrangement from other people and from oneself. Alienation is the systemic result of living in a socially stratified society, because being a mechanistic part of a social class alienates a person from their humanity. Workers experience alienation when they do not feel connected to their work or to one another, and when they are deprived of the right to conceive of themselves as the director of their actions and to determine the character of their actions.
Members at a popular fitness club currently pay a $40 per month membership. explain the meaning of 95% confidence in the context of the study answers
Answer:
Explanation:
95 % shows the level of certainty at which the studied respondent's answers would be certain with investigated issue. Say, if you want to investigate how raise in the price affects the sales. So, 95% confidence interval tells you how confident you can be that the results from a poll or survey reflect what you would expect to find if it were possible to survey the entire population.
In the short run:
A) all inputs are fixed.
B) all inputs are variable.
C)some inputs are fixed and some inputs are variable.
D) all costs are variable
In the short run, some inputs are fixed and some are variable, resulting in both fixed and variable costs for businesses.
In the short run, the correct answer is that C) some inputs are fixed and some inputs are variable. This means that there are fixed costs which do not vary with the level of output and are incurred even if no production takes place, such as rent or lease payments. On the other hand, variable costs change with the level of production. For example, costs for materials and labor might increase as more goods are produced. In the short run, businesses have limited flexibility in adjusting some costs, leading to the coexistence of both fixed and variable costs in their operations.
Your company is instituting a new security awareness program. You are responsible for educating end users on a variety of threats, including social engineering. Which of the following best defines social engineering?a. Destruction or alteration of datab. Gathering information from discarded manuals and printoutsc. Illegal copying of softwared. Using people skills to obtain proprietary information
Answer:
D
Explanation:
Social engineering is a way of manipulating people into releasing confidential information or data which may then be used by the recipient for fraudulent purpose. These data or information could be in form of password or one's bank details.
Answer:
D.Using people Skills to Obtain Proprietary Information
Explanation:
Social Engineering represents an aspect of information security or social sciences.
In Information Security, Social Engineering is involved in the use of psychological means to get people to give away crucial personal information or even perform certain options.
It also goes even beyond the field of information security into fields such as social science where it also represents the use of psychological skills among others to manipulate people to give information about themselves or others, commit a fraud or access a secure system.
Based on these definitions, one thing is that people skills are involved most often social and psychological skills and personal, confidential, secret or proprietary information are also involved. Social engineering manipulates the first to access the second
Projects often include indirect costs that are necessary to keep the organization running, but are not associated with one specific project. Which of the following items are most typically considered to be indirect costs?
Rent, expenses made by office, telephone expenses, administrative salaries are the items that fall under indirect cost.
Explanation:
Indirect costs are those cost which are not accountable directly. Indirect cost can be either variable or fixed. Indirect cost are also known as overhead expenses.
Rent can act as both direct as well as indirect cost. If rent is given for the plant as well as machinery for a company which is use by manufacturing units directly fall under direct cost but in other way when the rent is given for various official purposes it will fall under indirect cost.
1. Company policy forbids co-workers to date. A group of you go out after work for dinner, and you and another co-worker decide that you are attracted to each other and want to begin dating.
a. Recognize the issue (what is the ethical issue?)
b. Evaluate the solutions (what are all the solutions to the issue – both ethical and unethical?)
c. Ask for guidance (from whom and what can you ask?)
d. Proceed with your decision (What is your decision?)
Answer:
Company policy forbids co-workers to date. A group of you go out after work for dinner, and you and another co-worker decide that you are attracted to each other and want to begin dating.
Evaluate the solutions (what are all the solutions to the issue – both ethical and unethical?
Explanation:
Through the cause of evaluation, both ethical solutions and unethical ones would be evaluated, hence' solution would be sorted out. Since there is already an existing policing against getting married to one another, then it is expedient to check for solution both ethically and unethically
In an assembly line of a factory that makes gears, it takes fifteen minutes to complete a drilling operation using a lathe. The duration of this operation is called ___________
Answer: processing time
Explanation:
It is the duration or time taken in processing something or completing the process involved in turning a raw material into a finished product. During this period most businesses always look for ways to minimize the duration without affecting the quality of the final product to a level where it will affect sales or patronage.
A seller sold a house to a buyer allowing the buyer to take over the loan on a "subject to" basis. After 2 years, the buyer defaulted on the loan. Who would be liable to the lender for the note?
The Seller would be primarily liable
The Buyer would be primarily liable
Both buyer and seller would be primarily liable
Neither buyer or seller would be primarily liable
Answer:
A. The seller would be primarily liable.
Explanation:
Subject to basis is a form of home buying options in real estate. It is a situation where the buyer takes over existing loan of a seller and make commitment to seller to continue repaying the loan to the lender.
Though the buyer will taken over the loan from the seller and make repayment to the lender, there is no legal obligation on buyer`s part that makes him/her liable to the lender. The seller still remain liable despite the the taking over. So option A is right while B to D is wrong because it`s only the seller that is primarily liable to the lender.
A recruitment technique that acquaints the prospective employee with both positive and negative aspects of the job is known as __________.
Answer: Realistic Job Preview
Explanation:
The realistic job preview is the term which refers to the recruiting tool that is specifically used for the communication purpose that describe about the different aspects of the job.
It is also known as the job fit tool as it helps in give description about the job environment, expectations and the responsibility to the candidate by an organization.
According to the given question, a realistic job preview is one of the recruitment technique that explain the employees both the aspects of the job that is positive and negative.
Therefore, Realistic Job Preview is the correct answer.
Country X's economy is in an inflationary gap. Which of the following combinations of fiscal and monetary policy actions would restore full employment in the short run?
Answer:
To restore full employment in the short run during an inflationary gap condition, the government has to apply contractionary fiscal and monetary policies that will reduce the supply of money.
Explanation:
An inflationary gap is an economic situation that is characterised by excess demand. Particularly it is that situation when the real gross domestic product of a country is greater than the projected gross domestic product. In this condition, actual aggregate demand is higher than potential aggregate demand implying that more goods and services are needed to satisfy consumers. From another perspective, this could be caused by a fall in aggregate supply while aggregate demand remains stable.
Government intervention in this case is to reduce the money supply by implementing contractionary fiscal policies such as increasing taxes, reducing government expenditure which in turn reduces disposable income. Contractionary monetary policies that could be applied include increasing short-term interest rates, increasing reserve requirements. Though this policies come in with some unwanted side effects such as unemployemnt, they however serve as short term adjustment measures for an inflationary gap condition.
In order to restore full employment for Country X's inflationary economy in the short run, both contractionary fiscal policy (decreasing government spending or increasing taxes) and contractionary monetary policy (increasing interest rates) could be effective.
Explanation:To restore full employment in the short run in Country X's economy which is currently in an inflationary gap, the recommended approach would be to practice contractionary fiscal and monetary policies. Contractionary fiscal policies involve decreasing government spending and/or increasing taxes. This would in effect reduce aggregate demand and put downward pressure on the price level, aligning it closer to full employment levels while minimizing the rise of unemployment.
On the monetary policy front, measures could include increasing interest rates, which would dampen the demand for money and loans, and slow down economic activity. As a result, inflation could be tempered while allowing the economy to gradually move back to full employment. This is based on the Keynesian macroeconomic theory that deals with the responses to an economy experiencing inflationary rises in the price level.
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One way to think about free cash flow is that if the amount were withdrawn, it would harm the firm's ability to operate and to produce future cash flows.
A. True
B. False
The given statement "One way to think about free cash flow is that if the amount were withdrawn, it would harm the firm's ability to operate and to produce future cash flows" is FALSE.
Explanation:
Free flow of cash is the cash produced by an enterprise, less than the cost of asset spending. Free cash flow is the remaining cash after a corporation pays the operating costs and the equity, also called CAPEX.
FCF conflates net income through adjustments to non-cash spending, working capital shifts and capital expenditure.
The FCF is prone to volatility rather than net income as an indicator of profitability.
Nonetheless, FCF can expose basic problems until they emerge from the income declaration as a additional tool for analysis.
"Qriosity Inc. comes out with a new antivirus program and prices it at half price to attract buyers. The company is using ________."
Answer:
Market penetration pricing
Explanation:
Market penetration is a competitor strangulation pricing strategy employed by the supplier of a new product into an already saturated market in order to gain an unfair advantage by selling at a very low price during initial outing of the product to attract customers so as to gain a large market share.
Market penetration strategy helps in creating awareness for the product and makes customers to want to try it with minimum cost.
A corporate manager chafes under red tape and bureaucratic regulations until finally deciding to start a separate business. The apparent reward he seeks is _________.
a. the satisfaction of working with people.
b. a satisfying way of life.
c. community service.
d. independence.
Answer:
d. independence.
Explanation:
The corporate manager feels irritated or displeased and uncomfortable working under the company, as a result of the rigidity of formal rules as common in a typical bureaucratic business setting. This most likely must have hindered or limited the freedom of control of the manager. The apparent reward the corporate manager seeks by finally deciding to set up his own business is independence.
If Zephyr Electronics obtains an 18 percent return on invested capital, which of the following willhelp determine if it has a competitive advantage over other pharmaceutical companies?a. comparing the return to the return on invested capital obtained by other firms in theindustryb. assessing the value based on the shareholders' expectations of return on their capitalc. evaluating the liquidity ratios for other pharmaceutical companiesd. comparing the value to the history of the firm's return of investment over a number of years
Answer:
A) comparing the return to the return on invested capital obtained by other firms in the industry.
Explanation:
A firm that has developed a competitive advantage over its competitors will to able to either produce the same amount of output using fewer resources, or produce higher output using the same resources than its competitors. A competitive advantage means being more efficient.
So if we want to determine if Zephyr Electronics 18% return on invested capital (ROIC) provides them a competitive advantage over its competitors, we have to compare Zephyr's ROIC with the ROIC of the rest of the major firms in the industry.
Ted is the owner and chief executive officer of a business. He recently began an advertising campaign to promote a new product that is regulated by state law. The law is somewhat unclear. Before launching the campaign, he researched the relevant law and consulted with his attorney in an effort to comply with the law. Nevertheless, the attorney general of his state has filed a lawsuit against him for deceptive advertising. Ted's best defense is that:
a. his firm made a profit on the product.b. he acted in good faith.c. his attorney was incompetent.d. the law is unfair.
Answer:
Option B- He acted in good faith.
Explanation:
The person who is trading with the other party owes the duty of care which is well stated in the negligence act. However in this case we saw that though the law was unclear but still the CEO acted in best interest of the public at large by consulting the attorney to shed light on the issue. Remember law is ethically minimum that is desired but in this situation the CEO was committed to comply with law that's why he consulted attorney. So saying that he acted in good faith is the best defense in the court.
The ethical codes that tell employees what behavior is expected of them and establish the punishment for any violations are called _______ ethics codes.
a. customs-based
b. retribution-based
c. integrity-based
d. compliance-based
Explanation:
Compliance-based ethical code
Follow lawsFollow rules and regulationsAvoid legal complaintsThis always focus on prevention, early detection of violationWill empower legal counselState of being in accordance with established guidelinesThese are the rules attached to the employeesThe rules, laws and regulation might be as follows1. Non-Disclosure agreement
2. Behavior especially towards women employee
3. Timings and other administrative procedures
4. Any other which might create a legal issue
Compliance-based ethics codes are guidelines that instruct employees about expected behavior in an organization and specify penalties for violations. An example includes rules against insider trading.
Explanation:The ethical codes that inform employees about the expected behavior and outline the penalties for any violations can be called compliance-based ethics codes. These codes are designed to set clear standards for professional behavior within an organization and to ensure employees adhere to laws and regulations. They typically spell out consequences for breaches of the code to underscore the seriousness of ethical conduct.
An example of a compliance-based ethics code would be rules restricting employees from insider trading, with harsh penalties such as dismissal or legal action for any violation.
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What is the principal-agent problem?A) It is a problem of the power system of boss and subordinate where the boss (principal) exerts influence over his subordinates (agents) using punishment or threat.B) It is a problem that exists when a person (principal) has more information about the task than the agent he hires to perform the task.C) It is a problem caused by a person (principal) who hires an agent to act on his behalf but is unwilling to delegate authority to the agent to carry out the task in the best possible way.D) It is a problem caused by agents pursuing their own interests rather than the interests of the principals who hired them.
Answer: The correct answer is D) It is a problem caused by agents pursuing their own interests rather than the interests of the principals who hired them.
Explanation: A principal in the context of a business is the owner of the business which in most cases are the shareholders. While the agents are those employed or hired to engage in the day to day activities of the business.
The principal most often aims to maximise shareholders wealth. Principal- agent problem may arise where the agent s of the business put their interests as priority as against the interests of the principal. Such interests of the agents may be to earn bonuses even if it would jeopardize the growth of the organisation.This is an ineffective way of running an organization.
In your opinion, what aspects of the economy should be subject to some government regulation, involvement, or oversight?
Answer with Explanation:
In my opinion, the aspects of the government that should be subjected to some regulation, involvement or oversight are education, political structure and businesses.
These areas should have a set of rules in order to function effectively in the society. If the government will regulate education, many children will be able to learn. Learning can become an important requirement in order for the citizens to work or engage in businesses. Regulating the political structure is a must. This will prevent the monopoly of power of many politicians. It will also ensure that the political system is coordinated, trusted and unbiased. The government should also regulate businesses in order to provide equality. The businesses should follow a standard of rules (such as a common price standard) in order to practice fairness.
At Camp Bow Wow, all employees, franchisees, and recruits learn the inspirational story of how Heidi Ganahl founded the dog day care company. This is important because the story:
a Helps sustain values, attitudes, and beliefs.
b Helps individuals detect environmental changes.
c Reduces absenteeism among employees.
d Reduces uncertainty in the external environment.
The story helps sustain values, attitudes, and beliefs.
Explanation:
A company's success in long term depends upon the commitment that is shown by the employees. It is necessary for an organisation to create good values and principles in the minds of the employees. This helps them to know the value of the company and the things that led to the success of the organisation.
The success and inspirational stories helps to achieve this. Every organisation will be having an inspirational story and success story that helps in creating good values and sustaining them in the minds of the employees. This will help to create good beliefs and values towards the organisation they work for. This will also help them to show long term commitment towards the organisation.
What is the term used to describe product attributes that attract certain customers and can be used to form the competitive position of a firm?
Answer:
What is the term used to describe product attributes that attract certain customers and can be used to form the competitive position of a firm?
Competitive dimensions.
Explanation:
In the business world, there are companies that sell products that are used for the same things. The companies in this types of environments are in competition with each other since they are all fighting over the same resource which is market share. A bigger market share usually translates to more customers and more sales. Bigger sales reflects to a bigger profit margin. For a company to have a bigger market share, there are a number of things that they can do to form the competitive position of their firm. They can do this by using product attributes that attract certain customers, a situation termed competitive dimensions.
The following competitive dimensions can be considered, namely;
1. Quality: companies can focus on the quality of their product by improving the quality of the features above the competition. In this way some customers might consider opting for that product because of its perceived quality. The major features of quality are: reliability, performance, serviceability and value for money.
2. Time: the following form the major components of time, namely; delivery time, manufacturing lead-time and frequency of delivery.
3. Price and cost: these include selling price and the service costs.
Cindy is preparing for a closing meeting with clients who are considering a deferred fixed annuity. This solution could help them meet their financial goal of supplementing their future retirement income need with an income plan from the deferred annuity. The clients are____________.
A deferred fixed annuity can serve to supplement the retirement income of clients facing depreciating buying power due to inflation. Traditional fixed pension plans result in loss of buying power over time. Defined contribution plans, like 401(k)s, are becoming more popular, as they hold the potential for real return rates, thus protecting against inflation.
Explanation:The clients Cindy is preparing for are likely considering a deferred fixed annuity as a means to supplement their future retirement income and potentially mitigate the impact of inflation on their fixed income from pensions. This problem of reduced buying power overtime is faced by a large number of retirees who have traditionally relied on defined benefit plans like private company pensions. These pensions are usually set at a fixed dollar amount per year at retirement, which does not increase with time leading to a loss in buying power due to inflation.
Recently, defined benefits plans, such as pensions, are being replaced by defined contribution plans, like 401(k)s and 403(b)s. In these plans, both the employer and employee contribute, and the worker invests these funds across a wide range of investment vehicles. Because these plans generate real rates of return, they help retirees safeguard against inflation costs that are a problem for pensioners with traditional fixed incomes.
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When you gave your friend a fifty-dollar bill for an iPod, you used money as:
A. a standard
B. store of value
C. medium of exchange
D. measure of value
Answer: Medium of exchange.
Explanation:
The $50 is given in exchange for an iPod, therefore in the question's illustration money serves as a medium of exchange. Money as a medium of exchange means that money is needed when conducting business transactions that involves buying and selling.
The following are the account balances for Facci Company on December 31. Assume all accounts have normal balances. If the company prepares a trial balance at this time, what will be the debit and credit totals?
Cash $11,680 Accounts Receivable 2,300 Supplies 780 Building 5,460 Land 9,700 Accounts Payable 16,500 E. Facci, Capital 6,270 E. Facci, Drawing 300 Fees Earned 14,600 Salaries Expense 5,600 Rent Expense 1,200 Utilities Expense 350
a. $74,740
b. $28,320
c. $46,420
d. $37,370
Answer:
d. $37,370
Explanation:
The preparation of the trial balance is presented below:
Facci Company
December 31
Trial Balance
Particulars Debit Credit
Fees earned $14,600
Cash $11,680
Accounts Payable $16,500
E. Facci, Capital $6,270
E. Facci, Drawing $300
Rent expense $1,200
Utilities expense $350
Salaries expense $5,600
Building $5,460
Land $9,700
Accounts receivable $2,300
Supplies $780
Total $37,370 $37,370
The debit and credit totals for the trial balance of Facci Company on December 31 are both $37,370. This total includes all assets and expenses for the debits and all liabilities, owner's capital, and revenues for the credits.
To compute the debit and credit totals for the trial balance of Facci Company, you need to understand the balance for each account type. In accounting, assets and expenses normally carry a debit balance, while liabilities, revenues, and owner's capital usually have a credit balance. Therefore, the debit total will include Cash, Account Receivable, Supplies, Building, Land, E. Facci, Drawing, Salaries Expense, Rent Expense, and Utilities Expense. Calculating this gives $11,680 + $2,300 + $780 + $5,460 + $9,700 + $300 + $5,600 + $1,200 + $350 = $37,370. The credit total will include Account Payable, E. Facci, Capital, and Fees Earned, adding up to $16,500 + $6,270 + $14,600 = $37,370. So, the debit and credit totals for the trail balance will be 37,370 (Option d).
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Assume Global Cleaning Service had net income of $ 570 for the year. Global Cleaning Service's beginning and ending total assets were $ 4 comma 520 and $ 4 comma 180, respectively. Calculate Global Cleaning Service's return on assets (ROA).a. 12.6%b. 13.6%c. 13.1%d. 7.63%
Final answer:
The Return on Assets (ROA) for Global Cleaning Service is calculated by dividing the net income by the average total assets and multiplying by 100%. The calculation gives an ROA of approximately 13.1%, which corresponds to option c.
Explanation:
To calculate the Return on Assets (ROA) for Global Cleaning Service, we take the net income for the year and divide it by the average total assets for the same period. The formula for ROA is:
ROA = (Net Income / Average Total Assets) × 100%
Using the provided numbers:
Net Income = $570
Beginning Total Assets = $4,520
Ending Total Assets = $4,180
First, compute the average total assets:
Average Total Assets = (Beginning Total Assets + Ending Total Assets) / 2 = ($4,520 + $4,180) / 2 = $4,350
Now, calculate the ROA:
ROA = ($570 / $4,350) × 100% ≈ 13.1%
The correct answer is c. 13.1%
The owner of a commercial warehouse has the building listed for $250,000. The net income of the building is $20,000. An investor wants to buy it at a cap rate of 12%. Will the investor offer the owner the same price as the owner has it listed for? If not, by how much will the owner have to change his price to meet the investor's request for a 12% cap rate? Hint: Income Generated/Rate = Value.
Answer:
$166,667; owner would have to reduce his listed price by $83,333.
Explanation:
Given a net income of $20,000 and a cap rate of 12%, the value that the investor would be willing to pay
= [tex]\frac{Net Income}{CapRate} = \frac{20,000}{0.12} = $166,667[/tex]
As such, the investor would not offer the owner the same price the owner has listed the property for. He would offer a lower amount of $166,667.
And the owner would have to reduce his listed price by $250,000 - $166,667 = $83,333 to meet the investor's request.