On May 15, Monique Company purchased $40,000 of merchandise from the Terrell Company, with terms of 1/10, n/30. On May 17, Monique paid $310 to Swift Trucking Company for freight on the shipment. On May 20, Monique Company returned $800 of merchandise for credit. Final payment was made to Terrell on May 24. Monique Company records purchases using the perpetual inventory system.


Required: Prepare the journal entries that Monique Company should make on May 15, 17, 20, and 24.

Options:

A. Independent processing

B. Surrogate Interaction

C. Direct interaction

D. Resource processing

E. Process domain Interaction.

Answer:B. Surrogate Interaction

Explanation:

PCN(preassigned control number) PROGRAM is a program system designed to allow the Library of Congress to assign control numbers in advance of a publication to those titles which may be included to collections of materials in the Library. PCN number is only assigned to publishers in the United States of America.

Surrogate Interaction is a type of Interaction taking place in a PCN program where there are no direct interaction.

Answer:

Year             Amount ($) (Disclosure amount for long term debt)                            

2021                    0

2022             2,500,000

2023             4,500,000                

2024             8,500,000                  

2025             2,500,000

Explanation:

The question is to show the required note disclosure of Redmon Company's Long term Debt at December 31, 2020

In order to do this, the note disclosure will take into cognisance the

Year             Amount ($) (Disclosure amount for long term debt)                            

2021                    0

2022             2,500,000

2023             4,500,000                

2024             8,500,000                  

2025             2,500,000

Workings:

Disclosure for 2023 = Annual sinking fund payment + the notes payable maturity = (2,000,000 + 2,500,000)  

Disclosure for 2024 = Annual sinking fund payment + the notes payable maturity = (6,000,000 + 2,500,000)

Answer:

Answer is 1.53%.

Explanation:

The annual depreciation rates are:

1 = 1.6%

2= 2.8 %

3= 0.12 %

4=1.6 %

(These are calculated through data given in the question).

Now the average annualized reconciles appreciation rate on straight line basis = [tex]\frac{1.6+1.6+2.8+0.12}{4}[/tex]

= [tex]\frac{6.12}{4}[/tex]

= 1.53 %

Hence the correct answer for the question is 1.53%.

Answer:

Some answers are attached below

Explanation:

We need to maximize profit -

Selling prices for A,B,C are given; Costs of materials 1,2 and labor are given.

Also given is that 1 unit of each product A,B,C requires certain units of material 1, material 2 and labor based on the table provided.

Profit for 1 unit of A = Selling Price - Cost = 101 - [(7*3)+(5*2)+(15*4)] = 10 $

Profit for 1 unit of B = Selling Price - Cost = 67 - [(7*1)+(5*4)+(15*2)] = 10 $

Profit for 1 unit of C = Selling Price - Cost = 97.5 - [(7*5)+(5*0)+(15*3.5)] = 10 $

LP Formulation

Maximize profit Z = 10A+10B+10C

subject to Constraints

3A+B+5C<=300 ----> Material 1 constraint

2A+4B<=400 ---->Material 2 constraint

4A+2B+3.5C <=200 ----->Labor

C>=10 -----> Product C Demand constraint

A,B,C>=0

Below is the solver solution and formulation table from Excel -

Maximum profit = 925 $

The question involves formulating a linear programming problem to maximize profit by choosing production numbers for three products, constrained by available materials, labor, and demand. Additionally, it asks to determine the best production method based on various costs of labor and capital. The optimal decision-making strategy is determined by using Microsoft Excel Solver for the first task and a cost comparison for the second.

The scenario presents a linear programming problem with the objective of maximizing profit by deciding how many units of products A, B, and C to produce weekly. For this purpose, we must define decision variables such as XA, XB, and XC to represent the numbers of products A, B, and C produced. We incorporate constraints based on material usage, labor hours, and demand. For material 1, the constraint would be 7XA + 7XB + 7XC ≤ 300, considering the cost of material per unit. Correspondingly, we calculate constraints for material 2 and labor, considering their costs and weekly availability.

Using Microsoft Excel Solver, we set up the objective function to maximize profit, which is 101XA + 67XB + 97.50XC. We input the constraints for material 1, material 2, labor, and the minimum production requirement for product C into Solver. After running Solver, we obtain the optimal quantities of products A, B, and C to produce to achieve maximum profit.

Regarding the best production method in the second scenario, we evaluate the cost associated with each method. For Method 1 at the cost of $100/unit of labor and $400/unit of capital, the cost would be (50 units of labor * $100) + (10 units of capital ×$400). We compare the calculated costs similarly for Methods 2 and 3. The method with the lowest total cost will be the most economical option. If the cost of labor rises to $200/unit, we recalculate the total costs for each method using the new cost of labor, and again select the method with the lowest cost.

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Solution:

No       Event            General Journal              Debit        Credit

1            1                 Retained earnings            3,242

                        Cash dividends payable                           3,242

2           2          No journal entry required

3           3             Cash dividends payable      3,242

                                     Cash                                              3,242

Declaration date:

Cash dividends payable (7,720 million shares × $0.42) = $3,242 million

the answer is task. i just did the assignment.

Despite the communication difficulty and barriers with companies from different cultures,  This reflects the influence of globalization on the option B)Task" environment of companies.

Globalization refers to the increasing interconnectedness and interdependence of economies, cultures, and societies across the world. It has led to the breaking down of traditional barriers and the expansion of opportunities for businesses to operate beyond their national boundaries.

Globalization has led to increased interaction between companies from different cultural backgrounds

Read more about communication here:

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See text below

Despite the communication difficulty and barriers with companies from different cultures, many organizations are seeking opportunities to partner with companies from other countries for new supply and distribution. This reflects the influence of globalization on the ____ environment of companies.

A)economic

B)Task

c)Genral

Answer:

The correct word for the blank space is: mixed.

Explanation:

Mixed costs or semi-variable costs are the results of adding fixed costs (those that do not change) to a variable cost (vary in proportion to the level of activity). Different levels of production in a company determine how much the mixed cost will be.

Thus, in Jack's case, his salary is the fixed costs and the $1.25 per unit assembled is the variable cost.

The given example of Jack's base salary plus $1.25 per unit assembled represents a variable cost.

The example given, where Jack receives a base salary plus $1.25 per unit assembled, is an example of a variable cost. Variable costs are costs that change in relation to the level of production or output. In this case, the cost increases with each additional unit assembled by Jack.

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Answer:

13.90%; 10.50%

Explanation:

Given that,

Total assets = $1,050,000

Total current liabilities = $150,000

Interest rate on debt = 9%

Tax rate = 40%

Basic earning power ratio = 15%

Debt-to-capital rate = 40%

[tex]Basic\ earning\ power\ ratio=\frac{EBIT}{Total\ assets}[/tex]

[tex]0.15=\frac{EBIT}{1,050,000}[/tex]

EBIT = 0.15 × $1,050,000

        = $157,500

Total invested capital:

= Total assets - Accounts payable and accruals

= $1,050,000 - $150,000

= $900,000

Equity = 60% of the total invested capital

           = 0.6 × $900,000

           = $540,000

Debt = Total invested capital - Equity

        = $900,000 - $540,000

        = $360,000

Earning before tax:

= EBIT - Interest expense

= $157,500 - ($360,000 × 9%)

= $157,500 - $32,400

= $125,100

Net income = Earning before tax - Tax expense

                    = $125,100 - ($125,100 × 40%)

                    = $125,100 - $50,040

                    = $75,060

ROE:

= Net income ÷ Equity

= $75,060 ÷ $540,000

= 0.1390 or 13.90%

ROIC:

[tex]=\frac{[EBIT(1-Tax\ rate)]}{Total\ operating\ capital}[/tex]

[tex]=\frac{[157,500(1-0.4)]}{900,000}[/tex]

= 0.1050 or 10.50%

Answer:

The question posted seems to be lacking in giving what the standard costing is in monetary value. However, the formula can be given.

The formula to calculate the standard cost of input:

standard cost of unit (monetary value) multiplied by the standard quantity per unit

For Example:

If the standard cost of unit is $10 then the standard cost of input will be:

$10 x 10 pounds per case

= $100 per case.

Explanation:

To calculate standard cost, you have to understand the definition of standard cost. Standard cost is the estimated cost of production for a business.

Apply the formula given to calculate the the standard cost of input. Once you have that value, you can then calculate the cost of producing a case of roasted coffee beans.

To calculate the standard cost of producing one 10-pound case of roasted coffee beans, we consider the standard quantities and prices of the main inputs - coffee beans, packaging materials, and energy costs. By applying the formula Standard Cost = Standard Quantity x Standard Price, we can determine the standard cost of each input. The total standard cost is the sum of the standard costs of all inputs.

To calculate the standard cost of producing one 10-pound case of roasted coffee beans, we need to determine the standard cost of each input and then calculate the total standard cost. The formula to calculate the standard cost of inputs is:

Standard Cost = Standard Quantity x Standard Price

Let's consider the main inputs for producing roasted coffee beans:

1. Coffee beans: Assuming the standard quantity of coffee beans per 10-pound case is 10 pounds, and the standard price is $1 per pound, the standard cost of coffee beans would be 10 pounds x $1/pound = $10.

2. Packaging materials: Assuming the standard quantity of packaging materials per 10-pound case is $0.50, and the standard price is $0.10 per unit, the standard cost of packaging materials would be $0.50 x $0.10 = $0.05.

3. Energy costs: Assuming the standard quantity of energy per 10-pound case is 500 kilowatt-hours (kWh), and the standard price is $0.15 per kWh, the standard cost of energy would be 500 kWh x $0.15/kWh = $75.

Now, let's calculate the total standard cost by summing up the standard costs of all inputs:

Total Standard Cost = Standard Cost of Coffee Beans + Standard Cost of Packaging Materials + Standard Cost of Energy = $10 + $0.05 + $75 = $85.05

Answer:

Debit Cash accounts $7,687

Credit accounts receivables  $7,687

Being entries to record cash receipt from customer.

Explanation:

When customers purchase on account, the entries required are credit sales and debit accounts receivables.

When cash is paid, Debit cash account and credit accounts receivables with the amount paid. This has a net effect on account receivables and so the balance in the account is reduced.

Answer:

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

Explanation:

While engaging prospective buyers into a purchase, salespeople should be aware of what the consumer is looking for. Different consumers have different preferences such as price, brand, quality, technical features, or useful life. Then, once the purchase decision influencer has been identified, clerks must focus on that characteristic to attempt closing the sale.

Thus, Carlos must review his sales speech and pay special attention to what customers are looking for to determine which purchase decision influencer they are related to.

Answer:

A consortium usually operates in a country where none of the participants is currently active.

Explanation:

Answer:

price rise = $13.731 or above will be margin call

Explanation:

given data

per ounce = $13.57

maintenance margin = $3,224 per contract

initial margin = $4,029 per contract

maintenance margin = $3,224 per contract

solution

we get loss from margin that is

loss = $4,029 - $3,224

loss = $805

and here price for july silver future contract increase as

silver future contract increase = [tex]\frac{805}{5000}[/tex]  

silver future contract increase = $0.161

so when price rise to $13.57 + $0.161

price rise = $13.731 or above will be margin call

Answer:

Hi,

What is your question exactly in this. :)

Final answer:

The question and examples provided revolve around game theory and probability within economics, focusing on decision-making and the balance between self-interest and fairness at the college level.

Explanation:

The subject matter being discussed in the question involves a variety of economic and mathematical concepts which are related to game theory, probability, and the study of public goods. While the examples cover multiple topics, they all circle back to the theme of economic decision-making and strategic interaction between different agents within various scenarios, such as allocating funds for a holiday party, contributing to a public good, deciding on an offer in an ultimatum game, and calculating expected outcomes in games of chance.

Experimental data from these games shows that participants often consider fairness alongside their personal gain. The question points out that human behavior in these situations deviates from the purely rational, self-interested models that traditional economic theories might predict.

In the context of the provided examples, we see a mix of altruism, social consequences, and the overarching notion of equilibrium play out, posing an interesting examination of how individuals might behave in real-world situations. These concepts are key in understanding strategic interactions in economics, which is often a part of college-level curriculum.

Answer:

Although credit cannot be granted at this time, we welcome your cash business and encourage you to reapply in the future.

Explanation:

In business communication when conveying a message that is not pleasant to the other party, it is advisable to demphasise the bad news and focus on the good news in your statement.

This will create a more positive environment that promotes future business.

In the first statement the client was just told - We cannot grant your credit at this time.

This emphasises the bad news.

In the second statement the client was told - Although credit cannot be granted at this time.

Using the word although demphasises the credit rejection and focuses more on the client's cash business and the possibility of reapplying in the future.

Answer:

In the Baumol-Tobin model, if the nominal interest rate is 1%, the consumer's annual income is $36000, and every trip to the bank costs $20, then it is optimal for the consumer to visit the bank three times a year.

Explanation:

The optimal number of visit to banks = (iY/2F)0.5

i = 1% = 0.01

Y = $36000

F = $20.

The optimal number of visit to banks = (iY/2F)0.5

The optimal number of visit to banks = (0.01 * 36000 / 2* 20)0.5

The optimal number of visit to banks = (9)0.5

The optimal number of visits to banks = 3.  

it is optimal for the consumer to visit the bank 3 times a year.

Explanation:

The ethical issues throughout the actions of these people and community members The first move was to provide help for the people affected when the disaster of Hurricane Andrew was resolved. The people in the affected areas and aid agencies have been involved. The treatment and ethics issue contributed to the offer of such relief. As far as the ethic of care is involved, individuals have a duty in respecting the health of others in distress. Thus, this kind of philosophy was followed in this situation by providing the resources to help those impacted by the hurricane with their welfare.

Homes were destroyed, and shelter was needed. Various organisations, however, were knowingly or unknowingly interested in providing food and clothing as well as other basic necessities for such men. However, the ethical issue was the main driving force behind search and rescue operations for those directly impacted by the incident.

An example is the Bahamas National Disaster Coordinator, who played a significant role in motivating their employees to ensure that they offered timely relief to the survivors. The local population was also mobilized as often as possible to support the crisis. It is also the nature of people to support if circumstances allow them to do it anyway face. Hurricane Andrew was a shocking event for the citizens of Bahamas and Louisiana, and therefore the care and compassion ethics had to inspire the local population and different organisations.

While massive property damage happened, the ethics have helped to reduce the number of victims significantly.

Credentialism can hinder growth by excluding capable individuals who can't afford a degree, promoting inequality, and causing inefficient resource allocation. However, ensuring equal opportunities to education can mitigate its negative effects.

Credentialism, the emphasis on certificates or degrees to show that a person has a skill or met certain qualifications, can be an obstacle to growth in several ways. The focus on degrees over actual knowledge or skill can exclude capable individuals who don't have the means to earn a degree, which can lead to an underutilization of potential human capital and reduce growth.

Further, the practice of credentialism can exacerbate inequality, since the cost of earning a degree has become prohibitive for many people, but employers often use degrees as a pre-screening tool. Finally, the overemphasis on credentials can lead to an inefficient allocation of resources, as individuals spend time and money on formal education that might not be necessary for their careers.

However, the solution might not be to do away with credentialism, but rather to ensure that our educational institutions provide everyone with the opportunity to gain the skills and knowledge they need to succeed, regardless of their ability to pay.

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Solution:

The journal entries are as follows in the books of Concord Corporation

On June 10

Merchandise inventory A/c            Dr    $8,050

             To Account payable A/c                            $8,050

(Being the inventory is purchased on account)                

On June 11

Merchandise inventory A/c         Dr     $510

            To Cash A/c                                               $510

(Being freight is paid by cash)

On June 12

Accounts payable A/c                 Dr       $450

   To Merchandise Inventory A/c                            $450

(Being goods returned is recorded)

On June 19

Accounts payable A/c               Dr     $7,600 ($8,050 - $450)

   To Cash A/c                                                          $7,524 ($7,600 × 1%)

   To Merchandise Inventory A/c                               $76

(Being payment is recorded)

Answer:

Using the sequence A-B-C-D the production per cycle is A ( 1 )-B (1 )-C( 2 )-D ( 2 )

Explanation:

See the picture attached

Answer:

Option C, if a firm wanted to know whether the demand for its product was elastic, unit elastic or inelastic, then the firm could CHANGE PRICE A LITTLE BIT AND OBSERVE WHAT HAPPENS TO TOTAL REVENUE.

Explanation:

Price elasticity of demand measures the responsiveness of demand after a change in a product's own price.

Demand is considered elastic when the absolute value of price elasticity is higher than 1 which means it is highly responsive to change in price.

Demand is inelastic when the value of price elasticity is less than 1 which means it is unresponsive to change in price.

Demand is unit elastic when value of elasticity is equal to 1 which means demand remains the same.

Therefore, the option that best suits the question is option C, the firm can know if demand is elastic, inelastic or unit elastic by CHANGING PRICE A LITTLE BIT AND OBSERVE WHAT HAPPENS TO TOTAL REVENUE.

Answer:

The journal entries are as follows:

(i) Wage Expense A/c Dr.

            To Cash A/c

(To record the wages paid to the instructors)

(ii) Electricity expense A/c Dr. $1,750

                 To Accounts payable       $1,750

(To record the electricity expense)

(iii) Accounts payable A/c Dr. $1,750

             To Cash                                 $1,750

(To record the payment of electricity expense)

(iv) Electricity expense A/c Dr. $800

                 To Accounts payable       $800

(To record the electricity expense)

Final answer:

The student's query is on how to record transactions in journal entries, involving accounts such as Accounts Receivable, Service Revenue, Membership Expense, Cash, Amortization Expense, Accumulated Amortization, and Contribution Revenue.

Explanation:

The student's question involves preparing journal entries for transactions related to Swing Hard Incorporated. Since they have provided examples involving Treehouse transactions, we can use these as analogies to demonstrate how to record such transactions in accounting.

Each of these transactions would be recorded in their respective accounts according to double-entry accounting, where each entry has a corresponding and opposite entry.

Answer:

predictive validity

Explanation:

predictive validity is the extent to which a score on a scale or test predicts scores on some criterion measure. For example, the validity of a cognitive test for job performance is the correlation between test scores and, for example, supervisor performance ratings.

Answer:

manufacturability and value engineering.

Explanation:

Manufacturability and value engineering are processes that are concerned with improvement of specifications and designs at the stages of research, development, design, and production.

Value engineering aims to increase the value of a good by analysing the function. Value is the ratio of function to cost, so when we want it increase value we either increase function or reduce cost.

Manufacturability and value engineering involves reduction of the complexity of a product and improving a product's maintainability for use.

Answer:c. manufacturability and value engineering

Explanation: These activities focus on simplifying products and enhancing their maintainability, which are key aspects of manufacturability and value engineering.

Answer:

[tex]\left[\begin{array}{ccc}Account&DEBIT&CREDIT\\$Cash&18,900&-\\$Account\: Receivable&60,100&\\$Allowance \: doubful \: accounts&&150\\$Inventory&186,500&\\$Supplies&7,170&\\$Prepaid Insurnace&3,090&\\$Equipment&51,300&-\\$Acc \: Dep \: Equipment&-&18,100\\$Accounts \: Payable&&9,000\\$SS \: tax \: payable&&1420\\$Medicare \: tax \: payable&&340\\$Capital&&298,050\\&327,060&327,060\\\end{array}\right][/tex]

Explanation:

The sales, expenses, income summary and drawings accounts will be closed therefore will not be part of the post-closed trial balance.

Thew capital Account will suffer the net change of all these account thus, we can list the assets and liabilities and then, solve for Capital by the difference:

Assets = Laibilities + Equity

327,060 = 150 + 18,100 + 9,000 + 1,420 + 340 + Capital

Capital = 327,060  - (150 + 18,100 + 9,000 + 1,420 + 340)

Capital = 298,050

The postclosing trial balance is prepared after closing entries are made and includes permanent accounts such as assets, liabilities, and capital. It lists the final balances for these accounts and ensures the books are balanced entering the new fiscal year.

To prepare a postclosing trial balance for Van Zant Janitorial Supplies on December 31, 2019, you would list only the permanent accounts that will carry their balances into the next fiscal year. These accounts include asset, liability, and capital accounts after the temporary accounts (revenues, expenses, income summary, and owner's drawing) have been closed to the capital account. The postclosing trial balance includes:

Cash

Accounts Receivable

Allowance for Doubtful Accounts

Merchandise Inventory

Supplies

Prepaid Insurance

Equipment

Accumulated Depreciation—Equipment

Accounts Payable

Social Security Tax Payable

Medicare Tax Payable

Steven Van Zant, Capital

Each account balance is taken from the adjusted trial balance and input into either the debit or credit column as appropriate. The final debit and credit totals should match, indicating that the books are in balance following the closing process.

Answer:

The correct answer is a. the employee loses the right to litigation against the employer for covered incidents.

Explanation:

Compensation for employees can be the decisive factor to retain employees with high potential and encourage them to put all their efforts to achieve organizational goals; In addition, it is not only about creating strategies for employees who already belong to the payroll, but also those candidates who aspire to a job.

Compensations are strategies and incentives for employees, in addition to the monthly salary, used primarily to:

Answer:

(B) Cramer is liable for failure to obtain proper documentation showing that the workers were eligible to work in the US. Further corporate officers of Cramer can be held personally liable for failure to satisfy these requirements. Civil and criminal penalties may apply.

The key components in measuring a company's operating efficiency are as follows,

Explanation:

Efficiency can be defined as a measure to calculate the capability of the business to handle the existing assets and liabilities.

Return on assets (ROA): This measures the efficiency of a company's management in generating earnings from their economic resources or assets.

Total asset turnover: This ratio helps in measuring the ability of the business to generate sales from the existing assets.

In general, the following elements are assumed to be the efficiency ratios:

The efficiency ratio of a bank is calculated by diving the expenses (without including interest) by revenue. That is,

[tex]\text{Efficiency Ratio }=\frac{\text{ Expenses }}{\text{ Revenue }}[/tex]

This is also called as activity ratio.

Answer:

The correct answer is letter "D": political and legal.

Explanation:

Managers should not be discouraged in front of new legislation. In fact, new laws setting boundaries on businesses can be detrimental for those companies but immediately after the regulations are enacted, firms should find out if the political environment of that law has grey areas that help companies to surpass them.

Besides, the social environment where the firm operates can offer companies other opportunities for the fir to grow. Research must be meticulously conducted under this scenario to find out new profit sectors in the market before making radical decisions such as stopping the operations of the entity.

Answer:

The Net sales value of the fund is $9.62

Explanation:

Net asset is the net value of assets and liabilities. Net asset value of fund the the value of all the investment less any liability associated with those investment.

Stock  Shares     Price  Total

  A      300,000  $30    $9,000,000

  B      400,000  $35    $14,000,000

  C      500,000  $10    $5,000,000

  D      700,000  $15    $10,500,000

Total                              $38,500,000

Net Asset value = Total asset value - Total Liabilities = $38,500,000 - $30,000 = $38,470,000

Number of outstanding shares = 4,000,000

NAV = Net asset value / number of outstanding shares = $38,470,000 / 4,000,000 = 9.6175 = $9.62

The Net Asset Value (NAV) of the Fingroup Fund is calculated by determining the total value of the stocks, subtracting the management fee, and then dividing by the number of shares outstanding. The NAV for this fund comes out to approximately $9.618 per share.

The  Net Asset Value (NAV) of a fund is calculated by taking the total market value of all securities owned by the fund, subtracting the total liabilities, and dividing by the total number of shares outstanding. In this case, we need to calculate the total market value of all stocks, subtract the management fee, and then divide by the number of shares outstanding.  

 Therefore, the Net Asset Value of the fund per share is approximately $9.618.

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