By what percentage did​ mydeco's revenues grow each year from 2010 to​ 2013?b. by what percentage did net income grow each​ year?c. why might the growth rates of revenues and net income​ differ?

Answer:

$15,000

Explanation:

The following journal entry shall be recorded in the accounts of Amble, Inc. in  respect of exchange of truck.

                                                        Debit                   Credit

Fair value of truck purchased      $15,000

Cash received on exchange        $5,000

Carrying value of truck disposed                             $12,000                      

Gain on the truck disposed                                       $8,000

Gender balance considerations are important for a good board

Explanation:

Gender equality workforce is reached where people are able to obtain the same advantages, services and incentives irrespective of gender. It aims to achieve generally equality and results for males and females at job. 

This helps to sustain the society by sharing ideas and views while acknowledging other ideas for the creation of the group. It also has a positive effect, a sign of neutrality. Eventually, group engagement should be applied in a safe and welcoming atmosphere with all sets of people.

A good board of directors should have a balance in terms of race, finance, religion/culture, education, and gender. This ensures diverse perspectives, equal representation and inclusivity, and helps in understanding and serving the community and patrons better.

For the Imagination Museum to ensure that their board of directors is representative of their community and patrons, they should consider all the categories listed in the question. To achieve a racial balance, they should aim to have board members of diverse ethnic backgrounds that represent the demographics of the community. The financial balance implies having board members from different economic backgrounds which would ensure diverse perspectives and better understanding of the stakeholders. A religious/cultural balance is important to appreciate and manage cultural and religious diversity within the community. Educational attainment balance suggests having board members with different levels of education which can bring diverse knowledge and experiences. Lastly, gender balance is imperative in a board setup to ensure equal representation and inclusivity. Therefore, the CEO should aim for balance in all these areas.

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Answer:

b. With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others.

Explanation:

Which of the following is true regarding private ownership?

a.Relative to common ownership, private ownership generally leads to less conservation of resources.

b.With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others.

c.Private ownership generally gives the owner little incentive to find ways to use the resource wisely.

d. With private ownership, resource owners have little incentive to consider the preferences of others when deciding how to employ a resource.

Private Ownership is when a company is being owned by people or an organization rather than Government

Let's consider the options

Private ownership does not lead to less conservation of resources. Infact resources are conserved through optimization in revenue and publicity. It does not give the owner little incentives. Resource onwers to do not have little incentives.

B. .With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others is correct because the company is owned by group of people or organizations, therefore , there is a high level of accountability which is the opposite as regards government owned establishments.

Answer:

A) deposition

Explanation:

A witness or a party's deposition takes place before the actual trial starts, during discovery (or the investigation stage). During the deposition, the party or witness must answer the questions of the other party's attorney. Those questions are answered under oath, which means that lying is considered perjury and the party or the witness can be prosecuted for it.

Answer:

If the workers had been paying other people to perform the household activities prior to unemployment, then total production will fall.

Explanation:

Answer:

In this ad, Corona is using a fear appeal.

Explanation:

Advertisement is the sharing of specific information for the sole purpose of promoting that product to specific audiences. The audience is the potential consumer that the advertisement is meant to convert to loyal customers. The advertisement campaigns are usually tailored to appeal to these audiences to increase the sales. An increase in sales usually reflects on increased profit margin levels. There are various appeal methods that can be used;

Fear appeal

The fear appeal theory tries to put the consequences of not buying the product to light with the intention of pushing the potential customer to buy the product to avoid the consequences. In our case, the Corona deodorant advertisement uses the fear appeal of social rejection to push consumers to buy their product in order to evade the consequence of being rejected. By using a college freshman who is socially rejected by members of the college dance club since they don't use the deodorant, they exploit the fear of social rejection in a college freshmen. Thus might push them to buy the product.

Answer:

D. Operation management department / Operations department

Explanation:

The operations department is the department responsible for overseeing the production process of the department.

The operations department in a firm overlooks the production process. They must:

• Use the resources in a cost-effective and efficient manner

• Manage inventory effectively

• Produce the required output to meet customer demands

• Meet the quality standards expected by customers

Therefore Shawn's function of managing the overall processes for the company and transforming steel resources into goods shows that he most likely work in the operation department and serves as the operations manager  

Answer:

E. Database

Explanation:

A database often contains data that is collected from different sources and which is stored or held in a computer and can be accessed at various time to  assist in making certain decision.

In marketing, database helps to access data pertaining to customers needs in other to determine the means by which their needs can be satisfied.  

Answer:

d. Citizens

Explanation:

Citizens have always been likely to react with loyalty to negative outcomes as they may not have all the integrity to motivate reform, but really want to be a participant of the company. You can locate citizens by targeting people who show the new employees around the building, collect birthday cakes for the celebration, purchase new supplies when necessary, and so on.

Answer:

The correct answer is letter "A": Determining other purchase decision influencers.

Explanation:

Sales are variable and require salespeople to adapt their speeches to their potential costumers. It is important to know in-deep the features of the product or service offered but that is not enough. Most sales are processed because of good closing strategies. There is when the sellers create a need for the product and convince consumers they must acquire whatever the salesperson is offering.

Thus, Craig should focus on other aspects of his sales strategy rather than only the technical features.

Answer:

A zero-sum game

Explanation:

A zero-sum game is a situation in which the gains of one country are the result of the losses of another country. For example, if country A invades country B, and takes possession of its natural resources, the economic gain of country A came as a result of the economic loss of country B.

Answer:

c. An overstatement of liabilities.

Explanation:

To account for management fees unearned but received, the following entries may be required;

Debit Cash account

Credit  Unearned/Deferred Management Fees

Being entries to recognize unearned management fees.

When the fees are earned, the necessary entries are;

Debit Unearned/Deferred Management Fees

Credit Revenue (Management Fees) (P/L)

Being entries to recognize management fees earned during the period. Failure to post the second entry would result in an overstatement of Unearned/Deferred Management Fees which is an overstatement of liabilities.

Answer:

A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.

Explanation:

Large cities are associated with a high cost of living. House rent, food, and transport will cost more in major cities compared to smaller towns. In considering the job offer, the accountant should analyze the cost implications of living in the New York City in comparison to his salary increment.

A salary raise in economic terms will refer to an increase in pay after adjusting to any increase increase in prices. If the prices and subsequently cost of living is rising at a higher rate compared to salary increment, then an individual is actually experiencing reduced income. The accountant should consider the offer if the salary increments would cover the expected rise in the cost of living and leave him with some surplus.

Answer:

Decentralized control

Explanation:

Decentralized control -

It refers to the method adapted by the organisation or company , in which the  lower level elements helps completely to attain certain goal or task , is referred to as decentralization control

In this case , the people in the higher post need not rule over the lower one to complete the project or task on time .

The company using this method is happy as the employees are hardworking and there is least number of arguments , and hence becomes successful in shorter run .

Hence , from the question ,

The correct term is decentralization control .

Answer: Hypothesis

Explanation:

Hypothesis is defined as the explanation for any particular phenomena or process based on supposition and evidence.hypothesis is the base and initial start for conduction of experiment to investigate the results. If that concept is found correct then it can be considered as established theory.

According to the question, the believes and supposed evidences displayed by Sam'Club that sale is mostly towards small-sector business and women are  behind purchasing decision majorly are hypothesis which can be further tested and research based on market field.

Answer:

The journal entry to reflect Smith's new capital balance will include a credit to Smith, Capital in the amount of $30,000.

Explanation:

Step 1: Determine Smith's capital balance

Smith's new capital balance can be expressed as shown;

C=I+B1+B2

where;

C=new capital balance

I=Smith's capital investment

B1=T. Bina bonus amount

B2=M. Valley bonus amount

In our case;

C=unknown, to be determined

I=$20,000

B1=$5,000

B2=$5,000

Replacing;

C=(20,000+5,000+5,000)=$30,000

New capital balance=$30,000

Step 2: Record Smith's New Capital balance

Account                                     Debit                     Credit

Cash                                          30,000

Smith                                                                       30,000

A credit to Smith, Capital in the amount of $30,000                                                      

Answer:

Internal reports system.

Explanation:

Answer:

The correct answer is B

Explanation:

In group collectivism, it is defined as the degree to which the person or an individuals states the cohesiveness, loyalty and pride in the business or firm. Few of the characteristics of the societies, which have the high in group collectivism are:

1. The life pace is slower.

2. Obligations and the duties are vital determinants of the social behavior.

3. Strong distinction is made among out groups as well as in groups.

Therefore, Tanya, works for NGO, takes a lot of pride in her work. So, she belongs to a culture which is likely to score high on in group collectivism.

Pubic goods are:

Public goods are for the welfare of people, produced by the government as it's the government's responsibility to care for it's people.

Pubic goods are at no cost in order for it to be accessible to everyone, without a financial barrier or limit.

The free-rider problem is a market failure where pubic goods are being accessed and benefitted from but it's not being paid for by the benefiting group.

U.S border control is public goods as we, the general public, do not pay for it and it's aim is our protection, it is for our wellbeing.

Satellite TV is private goods as it's manufactured by a business or entrepreneur, and is sold for their profit.

Public goods are characterized by non-excludability and non-rivalry, leading to challenges in private provision and the free-rider problem. U.S. border patrol is a public good, while satellite TV is a private good.

The two main characteristics of public goods are non-excludability and non-rivalry. Non-excludability means that once the good is provided, no one can be prevented from consuming it. This is significant because it makes it hard for private firms to charge for the good, leading us typically to public provision. Non-rivalry means that one person's consumption of the good does not limit another person's consumption. This means that there is no benefit to restricting access, again leading us to public provision.

The free-rider problem occurs because people can consume public goods without paying for them, benefiting without contributing to their production. This leads to under-provision of the good, as private firms have less incentive to produce it.

U.S. border patrol is a public good because it is both non-excludable and non-rivalrous. Everyone in the country benefits from it whether or not they paid for it. Satellite TV, on the other hand, is a private good because access to the broadcasts is restricted to those who pay for it.

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Answer:

Amount after 7 years will be equal to $914.615

Explanation:

We have given initial investment P = $650

It is given it is compounded annually with rate 5%

So rate of interest r = 5%

Time period is given n = 7 years

We have to find the amount after 7 years

Future value is given by [tex]A=P(1+\frac{r}{100})^n[/tex], here A is future value P is initial investment r is rate of interest and n is time period

So [tex]A=650(1+\frac{5}{100})^7[/tex]

[tex]A=650\times 1.05^7[/tex]

[tex]A=650\times 1.4071[/tex]

[tex]A=914.615[/tex]

So the amount after 7 years will be $914.615

Answer:

1. Predetermined overhead rate=(997,500/70,000)=$14.25 per hour

2. Over-applied=$129,000

3. The journal entry will include a debit of $129,000 to the manufacturing overhead account and a credit to the cost of goods sold of the same amount.

Explanation:

1.

Step 1: Determine firm's predetermined overhead rate.

The firm's predetermined overhead rate can be expressed as;

P=BMO/BDL

where;

P=predetermined overhead rate

BMO=Budgeted manufacturing over head

BDL=Budgeted direct labor cost

This can also be written as;

Predetermined overhead rate=(Budgeted manufacturing over head/Budgeted direct labor cost)

In our case;

Predetermined overhead rate=unknown, to be determined

Budgeted manufacturing over head=$997,500

Budgeted direct labor cost=70,000 hours

Substituting;

Predetermined overhead rate=(997,500/70,000)=$14.25 per hour

2.

Step 2: Determine the over-applied or under-applied overhead for the year

The over-applied or under-applied overhead can be expressed as shown below;

O/U=AO-AM

where;

O/U=over-applied or under-applied overhead

AO=applied overhead

AM=actual manufacturing overhead

This can also be written as;

Over-applied or under-applied overhead=Applied overhead-actual manufacturing overhead

In our case;

Over-applied or under-applied overhead=unknown, to be determined

Applied overhead=Predetermined overhead rate×Actual direct-labor cost

and;

Predetermined overhead rate=$14.25 per hour

Actual direct-labor cost=80,000 hours

Applied overhead=(14.25×80,000)=$1,140,000

Actual manufacturing overhead=All manufacturing overhead except indirect materials+indirect materials

and;

All actual manufacturing overhead except indirect materials=$932,000

Indirect materials=(47,000+95,000-63,000)=$79,000

Actual manufacturing overhead=(932,000+79,000)=$1,011,000

Substituting in the original expression;

Over-applied or under-applied overhead=(1,140,000-1,011,000)=$129,000

Over-applied=$129,000

3.

Step 3: Close out the Manufacturing Overhead account into Cost of Goods Sold.

At the end of the year, the balance in the manufacturing overhead account which can either be overapplied or underapplied is disposed of by transferring the amount to the cost of goods sold. This can be journalized as follows;

Since the overhead is over-applied;

Account Name                                Debit                             Credit

Manufacturing overhead             $129,000

Cost of goods sold                                                             $129,000

The journal entry will include a debit of $129,000 to the manufacturing overhead account and a credit to the cost of goods sold of the same amount.

To compute the predetermined overhead rate, divide the budgeted manufacturing overhead by the budgeted direct-labor hours. To calculate the over-applied or under-applied overhead, subtract the actual manufacturing overhead from the applied manufacturing overhead. To close out the Manufacturing Overhead account into Cost of Goods Sold, debit the Cost of Goods Sold account and credit the Manufacturing Overhead account.

1. To compute the firm's predetermined overhead rate based on direct-labor hours, divide the budgeted manufacturing overhead by the budgeted direct-labor hours:

Predetermined Overhead Rate = Budgeted Manufacturing Overhead / Budgeted Direct-Labor Hours

2. To calculate the over-applied or under-applied overhead for the year, subtract the actual manufacturing overhead from the applied manufacturing overhead:

Over-Applied or Under-Applied Overhead = Applied Manufacturing Overhead - Actual Manufacturing Overhead

3. To prepare a journal entry to close out the Manufacturing Overhead account into Cost of Goods Sold, debit the Cost of Goods Sold account and credit the Manufacturing Overhead account for the amount of the over-applied or under-applied overhead.

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Answer:

b) false

Explanation:

Operating activities: It contains those transactions that affect the after-net income working capital. It would subtract the increase in current assets and a decline in current liabilities, while adding the reduction in current assets and a rise in current liabilities.

Therefore, the given statement is false.  

To say that a decrease in current liabilities is added to net income to arrive at net cash by operating activities is FALSE

When there is a decrease in current liabilities:

Because cash has reduced as a result of this, that cash should be deducted from net income and not added so as to reach the net cash provided by operating activities.

In conclusion, this statement is false.

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Answer:

True

Explanation:

For computing the cost of the completed jobs in a  job-order costing system we have to consider the actual direct materials cost,  actual direct labor cost, and the manufacturing overhead cost applied.

In mathematically,  

The total cost of completed job = Direct Material cost + Direct labor cost + manufacturing overhead cost

Therefore, the given statement is true

Answer:

$0

Explanation:

Since Mr. A already owns 75% of common stock (and 85% of nonvoting stock), the extra 5% will result in a total of 80% (and 90%), that means that he cannot recognize any loss or gain resulting from this transaction. This applies to all stockholders that own at least 80% of a company's stocks and transfer property in exchange for more stocks.

Answer:

Jane's total cost is $60,000.

Explanation:

This is because of the phenomenon called Opportunity Cost.

Simply put, opportunity cost is the cost of the next best alternative use of resources when a choice is made at the detriment of another.

We can also define it by saying, Opportunity Cost is the forgone alternative.

So we know she spent $50,000 to start her business, but would have made 10% of $100,000 which is $10,000 which is the opportunity cost, she has incurred a total cost of $60,000.

Answer:

II. Increasing the interest rate;

III. Increasing the time period;

Explanation:

these two factors will increase the future value of a lump sum investment.

This can be explained as -

Suppose, a sum of $ 1,000 invested for 10 years @ 5 %, it will result in $ 1,628.89.

Now, if we increase the time period to 11 years, it will result in 1,710.34  And now if we increase the rate of interest to 6 %, it will result in $ 1,898.30

Final answer:

To increase the future value of a lump sum investment, you should increase the interest rate and the duration of the investment period. Decreasing the interest rate or the lump sum amount will lower the future value.

Explanation:

To increase the future value of a lump sum investment, certain factors need to be considered. Specifically:

Therefore, the correct options that will increase the future value of a lump sum investment are II. Increasing the interest rate, and III. Increasing the time period.

An example using the formula for compound interest clearly shows the impact of increasing the interest rate and time period. For instance, if you start with a $3,000 investment at a 7% annual rate for 40 years, the future value would be calculated as:
3,000[tex](1 + .07)^{40}[/tex] = $44,923
However, if the interest rate was increased or the time period extended, the future value would be even higher.

Answer:

D

Explanation:

Either b) or c) occurs, but not as a result of a).

the promise can be kept if the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve or if the production possibilities frontier shifts outward due to an improvement in technology and because the economy moves along the production possibilities in the direction of a greater quantity of defense.

Answer:

$18,500

Explanation:

The computation of the balance of Service Revenue shown on the  adjusted trial balance is shown below:

= Service revenue ending balance + accrued value

where,

Accrued value =  $1,500 ÷ 3 = $500

And, the service revenue ending balance is $18,000

So, the Service revenue balance equal to

= $18,000 + $500

= $18,500

This is the answer but the same is not given in the options mentioned in the question.

The adjusted 'Service Revenue' for December, after accounting for the partial services provided for an upcoming event and recognizing the 'Unearned Revenue', should be a credit balance of $18,900. However, among the options provided, the closest correct answer is a credit balance of $19,000 (Option C).

The 'Service Revenue' of Social Event Planning Services consists of the revenue generated from rendering their services, which at the beginning stood at $18,000. However, in December 2018, they provided one-third of their services to a new client for an upcoming event, which they expect to receive $1,500 for, once the event is completed in January 2019.

Since they provided one-third of these services in December, a third of the expected payment, $1,500, could be recognized as revenue for the month of December, despite receiving that payment in January. So this translates to $1,500 / 3 = $500 earned in December.

Adding this $500 to the initial 'Service Revenue' of $18,000, we have $18,500. Now, considering there was an 'Unearned Revenue' of $400, which must now be recognized as part of the revenue (since services have been rendered for it), the total 'Service Revenue', as shown on the adjusted trial balance, should be a credit balance of $18,500 + $400 = $18,900. However, from the options available the closest correct answer is credit balance of $19,000 (Option C).

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Answer:

overapplied

Explanation:

When we say that manufacturing costs were overapplied, it means that at the beginning of the production process the estimated costs were too high. In other words, the budget considered that it would cost more money to produce the goods.

In this case, overhead costs tend to be overestimated and then overapplied because they rely on past data and efficiency can improve, which lowers costs; or the total production output can be lower than estimated, therefore the company incurred in less costs.

Depending on the cause of the actual lower costs it can be good or bad. If the costs were lower due to improved efficiency, then it is very good. But if the costs were lower due to a lower output, then that is not good.

Manufacturing overhead is overapplied when actual costs exceed the applied costs. This could arise from production inefficiencies or unexpected costs. The difference must be addressed for proper financial accounting.

In the realm of managerial accounting, the term Manufacturing Overhead refers to all the indirect factory-related costs that are incurred when manufacturing a product. When the actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was applied to Work in Process, we say that the manufacturing overhead is overapplied.

This situation may arise when there is an inefficiency in production, or unexpected costs, such as unplanned machine maintenance or increased factory labor wages.

To correct this, the difference must be added back to the cost of goods sold, or distributed across remaining inventory accounts depending on the policy of the company.

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Answer: The correct answer is the TECHNICAL DEVELOPMENT PHASE

Explanation: The new product process refers to the next product in a company's product line. It is a product that adopts or replacea an existing product. This process goes through different stages.

The technical development phase is however the phase during which the item acquires finite form - a tangible good or a specific sequence of resources and activities that will perform an intangible service.