Answer:
The option D is correct
Explanation:
The Doctor must recognize the revenue on first February because the consideration for performing the test is delivered to the party to the contract on February 1. So the revenue must be recognized on that date.
True or false: Accumulated Depreciation is a contra-account to a long-lived asset account, such as Equipment. This means that it is added to the balance of the long-lived asset in the balance sheet.
Answer:FALSE
Explanation: Accumulated depreciation is a negative account (contra-account) which Describes the total depreciation amount allotted to an asset since it is put into use. Accumulated depreciation is not added to the balance of the long lived asset in the balance sheet.
When an organization prepares it's balance sheet,it ensures that the depreciation schedule is recorded for all it's assets ensuring that both the cost of the equipment and it's depreciation is documented accordingly. Accumulated depreciation reduces the value of the assets in the balance sheet when added.
A customer has a broadly diversified stock portfolio with a current market value of $2,500,000. The customer wishes to hedge the portfolio against a market decline. The customer should:________
A. sell short the exact same stock positions as those held in the portfolio
B. sell 100 SPX 2500 Calls
C. buy 100 SPX 2500 Puts
D. sell long the exact same stock positions as those held in the portfolio
Answer:
C) buy 100 SPX 2500 Puts
Explanation:
SPX stock is based on the Standard and Poor's stock index, so if the investor is worried about a market decline, if he purchases put options and the marker declines, he/she will actually earn money. Each SPX 2500 contract covers approximately $250,000 of portfolio value, so if the investor purchases 10 put options then the whole portfolio would be covered.
A company mines 360,000 tons of coal per year in a rural county. The coal is worth $65 per ton. The average price for a 2,000-square-foot house with three bedrooms more than 20 km away from the mining site in this county is $220,000. The average price for a similar, 2,000-square-foot house with three bedrooms within 4 km of the mine is 8 percent lower. Using comparative statics, what is the effect of mining on home prices in this county?
Final answer:
Proximity to the mine decreases home values by 8 percent within a 4 km radius, resulting in an average price reduction of $17,600 for similar homes.
Explanation:
The question asks about the effect of mining on home prices in a rural county. To calculate the difference in home values based on proximity to the mining site, we first determine the average home price with 8 percent reduction:
Average Home Price within 4 km = $220,000 - ($220,000 * 0.08)
Average Home Price within 4 km = $220,000 - $17,600
Average Home Price within 4 km = $202,400
This shows that homes within 4 km of the mine are, on average, $17,600 cheaper compared to similar homes that are more than 20 km away. Using comparative statics, the effect of mining in this scenario is clear: proximity to the mine decreases home values by 8 percent within a 4 km radius.
At December 1, 2017, Swifty Corporation Accounts Receivable balance was $12770. During December, Swifty had credit sales of $34200 and collected accounts receivable of $27360. At December 31, 2017, the Accounts Receivable balance is _____________.
a) $19610 credit
b) $1 debit
c) $46970 debit
d) $19610 debit
Answer:
a) $19610 credit
Explanation:
Given: Accounts receivables as on Dec 1, 2017 = $12770
Credit sale during the month = $34200
Collections during the month = $27360
Accounts Receivable balance at the end of the month = Opening Accounts Receivable balance + credit sales during the month - cash collected during the month
= $12770 + $34200 - $27360
Accounts Receivable balance as on Dec 31, 2017 = $19610 credit
Before you begin to compose a message, you should conduct research to collect the necessary information. to avoid frustration and inaccurate messages, be sure to consider the receiver's position. which questions should you ask yourself before determining what and how to research?
Explanation:
Here are some general guidelines for composing a message,
Be politeWrite in simple and understandable termsEnsure whether the intention of the mail is written clearly in the "subject" lineElaborate the purpose of writing the mail and the content is reader-friendly or receiver-friendlyAvoid using harsh wordsCheck for spellings and grammarCheck whether attachments are included before sending the mailCheck for "CC: carbon copy" which needs to be includedClearCall Corporation makes phones, which are sold to consumers by DefDeals stores. Erna files a product liability suit against ClearCall, alleging a design defect. In deciding whether to hold ClearCall liable, the court may consider ________.a. Erna's intended use for the phone.
b. DefDeals' method of accounting.
c. ClearCall's quality control efforts.
d. an available alternative design
Answer:
c. ClearCall's quality control efforts.
Explanation:
Erma's claim alleging design defect can only be verified by reviewing ClearCall's quality control efforts.
Quality control is the process by which a manufacturer ensures that his products is below a minimum level of defects.
For example Six Sigma is a popular quality standard that aims at having below 3.4 defects per million of product.
Prime cost is Group of answer choices direct labor cost and indirect labor cost. direct materials cost and direct labor cost. indirect materials cost and direct labor cost. direct materials cost and indirect labor cost.
Answer:
Direct material cost and Direct labor cost.
Explanation:
Manufacturing costs are divided into 2 groups;
Prime Cost.Conversion Cost.Prime cost: It includes the costs which are directly related to the manufacturing of the product, i-e Direct material cost and direct labor cost. Direct material cost includes the costs related to the raw material of the product being manufactured. On the other hand, Direct labor cost includes the costs which are related to the labor working on the product, for example, the salary of the labor.Martha is walking from her office building to her car in a torrential downpour with an umbrella manufactured by Umbrellas USA, Inc. She is struck by lightning and files suit, claiming the manufacturer failed to include a warning. A court would likely find that:
a. there is no duty to warn about risks that are obvious or commonly known, such as the risk of lightning occurring during a rainstorm.
b. the plaintiff was partially at fault under the doctrine of comparative negligence.
c. the seller should have provided a warning because of the foreseeable misuse of an umbrella in a rainstorm with lightning.
d. the umbrella should have included a warning label against using an umbrella in a lightning storm.
Answer:
Option "A" is the correct answer to the following statement.
Explanation:
Under the justification, There is no obligation to inform of obvious or generally known hazards, including the risk of lightning, wildfire, flood And heavy thunderstorm during rain.
In the case of Martha, she got hit by lightning and suit a case on Umbrella USA. inc. , so it is negligible
So Martha will get nothing as compensation.
The question relates to product liability and a manufacturer's duty to warn about potential dangers. The court would likely find that there is no duty to warn Martha about the risk of being struck by lightning during a rainstorm, as it is a commonly known risk. This follows the principle that manufacturers are not required to warn about obvious or commonly known risks.
Explanation:The legal issue in this question is related to product liability and warning. Martha might argue that the manufacturer has failed to give a warning about an inherent risk that was not obvious or commonly known. This leads us to the principle that there is no duty to warn about risks that are obvious or commonly known.
It's common knowledge that holding a metal object such as an umbrella during a lightning storm can increase the risk of being struck by lightning. Therefore, the court would likely find that there is no duty to warn about risks that are obvious or commonly known, such as the risk of lightning occurring during a rainstorm, following the option a.
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Acme Steel Co. produces 1,000 tons of steel. Steel sells for $30 per ton. Acme pays wages of $10,000. Acme buys $15,000 worth of coal, which is needed to produce the steel. Acme pays $2,000 in taxes. Acme's contribution to GDP is A. $30,000. B. $20,000. C. $45,000. D. $15,000.
Answer:
Option (D) $15,000
Explanation:
Data provided in the question:
Steel produced by Acme steels = 1,000 tons
Selling cost of steel = $30 per ton
Wages paid = $10,000
Market price of the coal bought = $15,000
Amount paid in taxes = $2,000
Now,
The contribution is made to the GDP when the goods is sold or purchased at market price.
Thus,
The transaction relating to the purchase of coal by Acme steels will contribute to GDP
Hence,
Acme steel co. contribution to the GDP = $15,000
Option (D) $15,000
The Patersons bought a home that was newly constructed in 2007 for $275,000. They sold the home in 2015 for $255,000. Which of the following statements is correct regarding the sale of the house?a. The 2015 sale increased 2015 GDP by $255,000; and caused 2007 GDP to be revised downward by $20,000.
b. The 2015 sale increased 2015 GDP by $255,000 and had no effect on 2007 GDP.
c. The 2015 sale affected neither 2007 GDP nor 2015 GDP.
d. The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP.
Answer:
The statement that is correct is;
d. The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP.
Explanation:
GDP is known as the Gross Domestic Product. The GDP is a measure of the quantity of goods and services that are produced in a country during a certain period in time. The GDP is usually expressed in monetary terms. A high GDP usually translates to high levels of production. It is often used to determine how wealthy a country is in relation to the production capabilities. To determine a change in GDP, we need to determine the Net national product as follows;
NNP=GDP-D
where;
NNP=net national product
GDP=gross domestic product
D=depreciation
In our case;
NNP=$255,000
GDP=$275,000
D=d
replacing;
255,000=275,000-d
d=275,000-255,000=20,000
The depreciation=$20,000
The 2015 sale reduced 2015 GDP by $20,000 and had no effect on the 2007 GDP.
Answer:
d that's the answer
" The 2015 sale reduced 2015 GDP by $20,000 and had no effect on 2007 GDP"
Explanation:
Shannon is a marketing agent who determines his work behavior solely on whether he thinks he can do them without receiving immediate punishment from his boss. According to Kohlberg, which of the following stages of moral development does Shannon's behavior exemplify?
A. Principled stage
B. Conventional stage
C. Righteous stage
D. Preconventional stage
E. Unconventional stage
Answer:
The answer is D. Shannon is behavior exemplify the preconventional stage
Explanation:
In the preconventional stage of Kohlberg's model of cognitive moral development, people make decisions based on concrete rewards and punishments and immediate self-interest. It focuses on the desire to answer to instruction for the reward or the fear of being punished
Specializing in the production of a good or service in which one has a comparative advantage enables a country to do all of the following except A. increase the quantity of products that it can consume with no increase in resources. B. engage in mutually beneficial trade with other nations. C. produce a combination of goods that lie outside its own production possibilities frontier. D. consume a combination of goods that lie outside its own production possibilities frontier.
Answer:
C. produce a combination of goods that lie outside its own production possibilities frontier
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.
Producing outside a production possibility frontier is impossible. Efficient production takes place on the production possibility frontier.
By importing goods from trade partners , a country can increase the quantity of products that it can consume with no increase in resources.
I hope my answer helps you
Final answer:
Countries specializing in production based on comparative advantage cannot produce a combination of goods that lie outside their own production possibilities frontier, but they can engage in mutually beneficial trade, increase consumption without more resources, and consume beyond their production limits.
Explanation:
Specializing in the production of a good or service in which one has a comparative advantage enables a country to do a variety of things that promote economic efficiency and trade benefits. The question asks about what such specialization does not allow a country to do. We know that specialization and trade based on comparative advantage allow countries to increase the quantity of products they can consume without an increase in resources (A), because they are producing where they are most efficient. This specialization also enables countries to engage in mutually beneficial trade (B), since they can exchange what they produce efficiently for goods another country produces more efficiently, making both parties better off. Lastly, it allows countries to consume a combination of goods that lie outside their own production possibilities frontier (D), meaning they can enjoy a greater variety of goods and services than they could by just relying on domestic production.
However, what specialization based on comparative advantage does not enable a country to do is produce a combination of goods that lie outside its own production possibilities frontier (C). A country's production possibilities frontier represents the maximum production capability with the available resources and technology. While trade lets countries consume beyond their production possibilities frontiers through imports, it does not change the physical or technological constraints that limit their production capacity.
A seasoned loan is a: (a)loan with a payment record. (b)long-term loan. (c)first encumbrance. (d)None of the above
Answer:
The correct answer is A
Explanation:
Seasoned loan is the loan which is defined as the loan that has been made out for at least a year, in which the borrower of the loan has a good history in relation to the payment of the loan. It is considered a sign that the loan will be unlikely to default. And it may command the higher prices on the secondary market.
In short, it is defined as the loan which has been paid on time and the adequate amount of time to give the lender, the belief that it will be continue in this way.
So, it is a loan with the payment record of the payments made by the borrower.
When greenbelt construction company began building houses in a large subdivision with many other builders, the company priced its homes slightly higher than its competitors and promoted the added quality features found in greenbelt's homes. greenbelt was using _________ a(n) pricing strategy a. competitor-based b. value-based c. improvement-based d. premium e. reference-based
Answer:
a. competitor-based
Explanation:
Probabbly Greenbelt wanted to price the house at a higher price but it is defining the price of the house considering their competitors price rather than value of the land/house. Therefore the basis for the price is the competitors.
Jerry is looking to buy a multi-family building. He would like to know much rent can be collected if the building were 100% occupied. Which line of the pro-forma should Jerry look to find this information?
Answer: The answer is potential revenue
Explanation:
The proforma statement is a income statement prepared to know the revenue and the expenses of the property within an accounting period. It shows the net income realised from the building at the end of the accounting period. Every investors wants a return on their investment, no investor will want to invest his capital in a business where their will be no return. The proforma statement help the investors in the purchase of a building to know what the investors expect to gain if the investors buy the building .
In the preparation of the proforma statement, the first item on the line is the potential revenue if the building were 100% occupied. Therefore the line in which Jerry can find the information he is looking for is the potential revenue line.
Jerry should examine the gross potential income line on the pro-forma to determine the total possible rent from a fully occupied multi-family building, considering the equilibrium price and price elasticity of supply.
Jerry is seeking to understand how much rent can be collected from a fully occupied multi-family building. To find this information, Jerry should look to the gross potential income line of the pro-forma, also known as potential rental income or gross scheduled income. This line item reflects the total amount of rent that could be collected if the property were 100% occupied and all tenants paid their rent at the current market rates. It is important for Jerry to consider the equilibrium price, as this determines the price where supply meets demand. Additionally, Jerry should consider the market conditions described in the provided references that illustrate how property owners might adjust the quantity of units available for rent based on anticipated rent levels and the price elasticity of supply.
Greg is the CEO of a leading company in the consumer packaged goods industry. He is trying to grow his company for personal gain and wealth. However, Greg sees that his company has an opportunity to break into the chemical industry. He has decided to invest free cash flow into acquiring small chemical companies that have the potential of growth, if funded properly. Shareholders are not happy. Their case for wanting to cease these actions is that Greg is practicing ______.
On July 1, Year 4, Pell Co. purchased Green Corp. 10-year, 8% bonds with a face amount of $500,000 for $420,000. The bonds are classified as held-to-maturity, mature on June 30, Year 14, and pay interest semiannually on June 30 and December 31. Using the interest method, Pell recorded bond discount amortization of $1,800 for the 6 months ended December 31, Year 4. From this long-term investment, Pell should report Year 4 revenue of:
Final answer:
Pell Co. should report Year 4 revenue from the bond investment as the sum of the semiannual interest and the amortized bond discount, which totals $21,800.
Explanation:
When Pell Co. purchased Green Corp. bonds, they bought them at a discount, and the bonds pay semiannual interest at an 8% rate. The bond's face amount is $500,000, and the interest per semiannual period is calculated as 0.08 * $500,000 / 2 = $20,000. Given that Pell Co. amortized bond discount of $1,800 for the six months ended December 31, Year 4, this amount should be added to the cash interest received to calculate the total revenue recognized from the investment for Year 4.
Therefore, the total revenue for Year 4 is the interest received plus the amortized discount which is $20,000 + $1,800 = $21,800.
____________one of Reich's four key components, is making a reasoned analysis of an opportunity, envisioning potential solutions, evaluating those possibilities, and developing the most promising ones, consistent with the resources you have.
Answer:
The correct word for the blank space is: Experimentation.
Explanation:
There are four (4) components companies must be willing to develop if they look for consistency in their operations. Those are abstract reasoning, systems thinking, collaboration, and the ability to experiment. Experimentation implies making an analysis of the market situation and coming up with a solution for the problems taking place, then, setting up a strategy to attempt covering that issue wisely based on the resources of the institution.
A ____, also called a SWOT analysis for strengths, weaknesses, opportunities, and threats, is an assessment of the strengths and weaknesses in an organization's internal environment and the opportunities and threats in its external environment.
Answer:
situational analysis
Explanation:
A SWOT analysis is just a situational analysis since it is dynamic and can change very rapidly.
For example, the strengths of a corporation (AKA core competencies) can become core rigidities or weaknesses. A former threat can become a current opportunity, and vice versa.
It SWOT analysis is made and is valid only for a certain a mount of time and should be continuously revised and updated. Specially now that technology is changing so fast and the world is shrinking, situations can change for good or worse very rapidly. E.g. the corona virus outbreak in China has changed all economic predictions for the current year, and we are in February.
A SWOT analysis is a strategic planning tool used by organizations to identify their strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors while opportunities and threats are external factors.
Explanation:A SWOT analysis, standing for strengths, weaknesses, opportunities, and threats, is a strategic planning tool utilized to help organizations identify and understand key aspects in their internal and external environment.
The strength and weaknesses component of a SWOT analysis focus on internal factors, which includes resources, capabilities, and core competencies that the organization possesses. These could be skilled employees, strong brand, unique technology, etc. Weaknesses, on the other hand, are areas where the business may be lacking or in need of improvement.
On the other hand, opportunities and threats are external factors that the organization has little control over. Opportunities might be new markets, favourable regulations, etc. Threats could include changes in market trends, new competitors, or changes in governmental policy that could negatively affect the business.
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Many catalog companies create special-run issues based on what customers have purchased in the past. For example, customers who frequently order bedding items like sheets and pillows receive a catalog with a larger section of bedding items than do customers who mostly order kitchen tools. This is an example of
Select one:
a. customer relationship management. Correct
b. a transactional marketing orientation.
c. C2C marketing.
d. supply chain management.
e. typical production-oriented era marketing practices.
Answer:
a. customer relationship management
Explanation:
Customer relationship management is how a company interacts with its customers. It uses customer data to make analysis aimed at serving the customer better.
The CRM software is used to profile customers based in their historical preferences and this informs strategy used to engage the customer in the future.
Which costs can be directly traced to the product being manufactured? Group of answer choices Direct Costs Period Costs Sunk Costs Fixed Costs
Answer:
The correct answer is: direct costs.
Explanation:
The direct costs are the costs that can be easily traced to the goods or services or projects. It includes material and labor cost and distribution cost incurred in the production of a product.
It is contrasted to indirect costs which cannot be traced to a product and is not directly linked to a product.
The sunk costs are cost which has already been incurred are no longer relevant for economic decisions.
Fixed costs are the costs that do not vary with the change in the volume of product.
So, the direct cost is the correct answer.
Tammi took the Strong Interest Inventory and discovered that her top two interest areas are Social and Realistic. She is looking for a career that may be a good fit for her, but is confused since they are opposite preference types. One of the potential careers that she could explore would be _______, because it _______.a. Airline Pilot; provides the opportunity to fly a plane and also help groups of people b. Construction Manager; lets her build new housing develops that people will occupy c. Talk Show Host; because it is certain to target one of her top interest areas d. Physical Therapist; incorporates both of her top interest areas into one profession
Answer:
The answer is c.Talk show host;because it is certain to target one of her top interest areas
Explanation:
She should looked for talk show host because it is certain to target one of her top priority as social work can also be done through talk show by hosting such person who are doing a social work in there field this will explore her and help people who are watching know what is the celebrity is talking which might help viewers which indirectly she had done a social work by giving inspiration to viewers which is also a social work. Beside she is dealing in realistic work. She would also earn her livelihood plus has done a social work by giving information through her talk show which inspired quite lot of people.
Final answer:
A potential career for someone with Social and Realistic interests, like Tammi, could be a Physical Therapist, as it allows for direct interaction with people and the utilization of practical skills.
Explanation:
Tammi took the Strong Interest Inventory and discovered that her top two interest areas are Social and Realistic. She is looking for a career that may be a good fit for her but is confused since they are opposite preference types. One of the potential careers that she could explore would be Physical Therapist; because it incorporates both of her top interest areas into one profession. As a physical therapist, Tammi would have the opportunity to work directly with people, helping them to recover from injuries and improve their physical capabilities (Social interest). In addition, the profession involves a hands-on, practical approach to care, often requiring interaction with various tools and equipment (Realistic interest). This combination could provide a fulfilling career for someone with Tammi's mixed interest profile.
"The owner of Elixir Force Inc. received the most prestigious corporate award and was also titled as ""the most outstanding new entrepreneur of the year."" In the context of people-based legitimacy, this is typically an indicator of:"_________A. Brand equityB. Public recognition**C. Business network membershipD. Experiential supports
Answer:
B. Public recognition
Explanation:
Legitimacy, in its primary sense, means acceptance.
People-based legitimacy revolves consensual acceptance of a particular individual by some group of people. This people-based legitimacy can be relayed to an individual through public recognition. Before anyone can enjoy people-based legitimacy, they must have done something worthwhile.
In the case of the owner of Elixir Force Inc receiving an award for most outstanding new entrepreneur of the year, it is clear that he is enjoying public recognition in context of people-based legitimacy.
Final answer:
The prestigious award and title given to the owner of Elixir Force Inc. signify public recognition, which can elevate the entrepreneur's prestige and legitimate power. This reflects positively on their leadership, contributing to both personal and organizational reputation and business network membership.
Explanation:
The owner of Elixir Force Inc. being titled as "the most outstanding new entrepreneur of the year" and receiving the most prestigious corporate award is typically an indicator of public recognition. Such awards enhance the individual's prestige and are often a result of positive experiences, contributions to the industry, or innovative achievements. These awards can contribute to a sense of commitment to the company and boost the owner's legitimacy by showing the respect and esteem with which they are held by peers and the business community.
Awards like this have also been related to leadership emergence and effectiveness, signaling that the entrepreneur is viewed as a leader by others. Also, these kinds of recognitions contribute to name recognition, which is beneficial for both the individual and their company, often leading to media coverage and a competitive advantage. Positive reinforcements such as these can signal a healthy capitalist economy where innovation and good customer service are rewarded.
Prestige is closely tied to one's reputation and esteem within society and is often associated with one's position or accomplishments. By earning such a renowned award and public acknowledgement, the entrepreneur advances his/her image and social capital, which may open doors to better business network membership and could possibly provide internal and external support from a powerful elite. Legitimate power often accompanies these indicators, giving the leader an officially recognized status or title that can enhance their influence within their industry.
A random sample of 30 colleges from kiplinger's list of the best values in private college provided the data shown in the datafile named bestprivatecolleges (kiplinger, october 2013). the variable named admit rate (%) shows the percentage of students that applied to the college and were admitted, and the variable named 4-yr grad. rate (%) shows the percentage of students that were admitted and graduated in four years.
Final answer:
The question involves statistical analysis of admission and 4-year graduation rates from Kiplinger's list of best value private colleges, underscoring the importance of descriptive statistics, the impact of admission policies, and the educational context on these rates.
Explanation:
It focuses on two main variables: the admit rate (%), indicating the percentage of students admitted out of those who applied, and the 4-yr grad. rate (%), showing the percentage of students who graduate within four years. This type of analysis is crucial in the field of statistics, specifically relevant to descriptive statistics, probability theory, and potentially inferential statistics, where one might use this data to make broader generalizations about private colleges' performance. Considering the relevance of the University of California's admission criteria and the impact of for-profit colleges on graduation rates, it's evident that college admission policies and the broader educational context play significant roles in these outcomes. Such analyses help stakeholders understand the factors contributing to higher education institutions' effectiveness and the value they provide to students.
The iron law of responsibility says that:____________
A. In the long run, those who do not use power responsibly will lose it.
B. In the short run, sacrifice social goals for economic goals.
C. Law is most important, more than social or economic responsibility.
D. In the long run, economic responsibility leads to social responsibility.
Answer:
The correct answer is (A)
Explanation:
According to iron law responsibility, the companies must use power to stay in the market and control it. These companies have three responsibilities; the first involvement is to run the business, the second involvement is to full-fill society objectives such as to perform social tasks like cleaning pollution. They also stay in the market and work to rebuild or transform the society which improves their goodwill.
The iron law of responsibility, in business ethics, suggests that ultimately, those who do not use power responsibly will lose it. It is a call for businesses to consider their actions over the long term and understand the potential consequences of irresponsible behavior.
Explanation:The iron law of responsibility is a term in business ethics and corporate social responsibility. The best answer choice that fits the description of the iron law of responsibility is, A. In the long run, those who do not use power responsibly will lose it. To put it simply, this law implies that businesses, or any organization with power and influence, are expected to take responsibility for their actions over the long term. If they fail to act responsibly, they might face consequences that result in the loss of their power, like a damaged reputation, consumers boycott, and stricter regulations impose by governments.
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Plus Company uses the estimate of receivables method of accounting for uncollectible accounts. Plus Co. estimates that $4412 of accounts receivable at December 31, 2013 will be uncollectible. At the beginning of the year, on January 1, 2013, the Allowance for Bad Debts had a credit balance of $3284. During 2013, Plus Co. wrote off Accounts Receivable totaling $1826 and made credit sales of $114579. After the adjusting entry is posted, the December 31, 2013 balance in Allowance for Bad Debts would be ______.
Answer:
$4,412
Explanation:
If the company estimates that $4,412 of accounts receivables will be uncollectible, then it must record that number under the Allowance for Bad debts Account.
That account started the year with a $3,284 balance, it decreased by $1,826 (debt written off), and then must be adjusted by crediting $2,954 so its balance = $4,412 on December 31.
Final answer:
The December 31, 2013, balance in the Allowance for Bad Debts for Plus Company, after adjusting for the written off accounts and the estimated uncollectibles, would be $5870.
Explanation:
The student's question relates to an accounting concept called the allowance for bad debts, which is an estimate of the accounts receivable that a company does not expect to collect. Plus Company uses the estimate of receivables method to account for uncollectible accounts, and based on this method, they estimate a total of $4412 in uncollectible accounts by the end of the year.
At the beginning of the year, the Allowance for Bad Debts had a credit balance of $3284. Throughout the year, Plus Company wrote off accounts receivable totaling $1826. These written off accounts would have decreased the Allowance for Bad Debts. To find the December 31 balance, we need to adjust the Allowance for Bad Debts account with the estimated uncollectible accounts.
The adjusted balance in the Allowance for Uncollectible Accounts is calculated as follows:
Start with the beginning balance: $3284 credit balance.Subtract the accounts written off: $1826.Add the estimated uncollectibles: $4412.3384 (beginning balance) - 1826 (accounts written off) + 4412 (estimated uncollectibles) = $5870. Hence, after the adjusting entry is posted, the December 31, 2013, balance in Allowance for Bad Debts would be $5870.
An industrial chemical manufacturer had a company culture and mission statement that emphacized cutting costs and increasing revenue by any legal means. A new executive to the company begins requiring each department to come up with specific goals and objectives to become more socially and environmentally responsible. Each department supplies the new executive with their plans to match her criteria, but after three months, none have been implemented. This is an example of:
Answer:
a company whose mission and culture are not aligned
Explanation:
A mission statement of a company refers to the short statement of why a company operates, what its overall objective is, defining the purpose of its operations: what kind of product or service it offers, its primary clients or sector, and its geographic region of operation.
Corporate culture relates to a business's character. This dictates the atmosphere for workers to work in. Culture of the business contains a variety of factors like workplace, purpose of the organisation, meaning, morals, priorities and objectives.
Thus, from the above we can conclude that the mission and culture of the organization in the given question contradicts each other.
A client is diagnosed with polycystic kidney disease and requires teaching on the management of the disorder. Which statement made by the client indicates a need for further teaching?
Excessive water intake can worsen polycystic kidney disease.
Explanation:If a client is diagnosed with polycystic kidney disease, they would need teaching on the management of the disorder. One statement that indicates a need for further teaching is if the client says that excessive water intake is beneficial for managing the disease. Excessive water intake can actually worsen the symptoms of polycystic kidney disease by increasing the urine output and putting pressure on the kidneys.
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Stockholders equity: a. Represents the ownership of a company b. Is the equivalent of net assets c. Is also known as the book value of a company d. Is analyzed in detail in the statement of stockholders equity e. All of the above
Answer: e. All of the above
Explanation:
When calculating stockholders' equity we include the following; paid-in capital (preferred stock, common stock, paid-in capital in excess of par value - preferred stock, paid-in capital in excess of par value - common stock, paid-in capital from treasury stock), retained earnings, accumulated other comprehensive income and subtract treasury stock to give the Total stockholders' equity.
Sales of the cooler freeze packs made by the company Coolpaxx have been declining. Online sales information is shared with the sales department and customer service division. The product development team, however, has not been receiving the customer complaints or suggested product changes that have been collected. Which part of the effective three-step process did this company fail to use?
Answer:
share customer information across all departments
Explanation:
The effective three-step process for business are:
- Assess,
Obtaining all valuable information relevant to the operation. This include things such as customer information, market tendencies, and external challenge.
Failing to give a certain information to any part of departments indicates a failure in this step.
In the example above, the product development team wouldn't have any clue on how to improve their new product if they do not possess the information regarding the customers' complaints.
- Improve,
After the company receive the relevant information, the employees will know the things that are well-liked and the things that despised by the customers.
They can use this information to design improvement for the products and catering to the things that customers like.
- Implement
After the improvement is designed, the company just need to collect the resources it needed and implement the improvement.
Final answer:
Coolpaxx did not effectively use adequate information systems in their three-step process, failing to communicate essential customer feedback to the product development team, which could have led to necessary product improvements.
Explanation:
The company Coolpaxx has been facing a problem with the decline in sales of their cooler freeze packs. After examining the situation, it's clear that the company failed to effectively utilize the third step in the three-step process, which is adequate information systems. In particular, they neglected to share customer complaints and suggested product changes with the product development team. These are critical pieces of feedback that could significantly contribute to product improvement and address any customer dissatisfaction.
When customer complaints indicate that the freezing time target would not be met and that the freezing process must be modified, it's important for this information to be communicated to those who have the capacity to enact changes. The lack of communication could lead to further loss of customer goodwill, as customer suggestions and complaints are not being addressed in product updates and improvements.