Option A
The component of the service environment that involves products or services provided by an organization is/are called The delivery system
Explanation:
A system or scheme for rendering a good or aid to the society is termed as a delivery system. The essential factors for strong service delivery systems are defined which must be followed by every industry to meet their delivery system.
Producing the service delivery system should concentrate on what produces superiority to the central organizations and how to involve front-line workers to deliver the latest client action. The plan is power and continually assessing how both client and end-user observe service delivery is essential for constant collaboration.
What line item flows from the statement of retained earnings to the balance sheet?
Answer:
Retained Earnings
Explanation:
The statement of retained earnings is prepared after preparing the income statement but before preparing the balance sheet. The reason behind this is that the statement of retained earnings is used to calculate the amount of retained earnings at the end of the period to be shown in the balance sheet.
In business accounting, the line item that flows from the Statement of Retained Earnings to the Balance Sheet is 'Retained Earnings'. The figure, which is part of the owner's equity section on a balance sheet, reflects the cumulative profits of a company that have not been distributed to shareholders as dividends.
Explanation:In the field of Business Accounting, there is a crucial connection between the statement of retained earnings and the balance sheet. The line item that flows from the statement of retained earnings to the balance sheet is the Retained Earnings.
The statement of retained earnings is essentially a record of the changes in a company's retained earnings over a period of time. It starts with the beginning balance of retained earnings and adds or subtracts according to the company's net income net loss, and dividends.
After these calculations, the end balance is determined for the retained earnings. This end balance is then represented as 'Retained Earnings' on the balance sheet under the owner's equity section. This figure represents the cumulative profits held by the company that have not been distributed to shareholders as dividends.
Learn more about Statement of Retained Earnings here:https://brainly.com/question/32034295
#SPJ3
In the context of Camp Bow Wow, which of the following is likely to be affected and shaped by founder Heidi Ganahl's inspirational life story?a.Specific environmentb.Organizational structurec.Internal environmentd.Organizational diversity
Answer:
c.Internal environment
Explanation:
internal environment refers to the culture, members, events and factors within an organization that has the ability to influence the decisions of the organization.
Organizational Culture is affected by the influence of the founder leader
In the context of Camp Bow Wow, the item that is likely to be affected and shaped by founder Heidi Ganahl's inspirational life story is the c.Internal environment.
While the internal environment is a component of the business environment, it is composed of internal factors that change with the choices, activities, and decisions of the organization.
Some elements of the internal environment are:
Organizational Plans & PoliciesValue PropositionManpower capabilities and financial resources Corporate Image and brand equityPhysical assets Inter-personal RelationshipsThus, the internal environment interacts with the organization's external environment to shape its success.
Read about an organization's environments at https://brainly.com/question/17237401
Which of the following terms addresses the problem when introducing a new product line could steal sales away from an existing product line?A. EnhancementB. cannibalizationC. PaybackD. DiscountingE. None of the above
Answer:
"A"
Explanation:
Market enhancement is the process of improving the production line of an existing product in order to increase the value, efficiency and effectiveness giving the product a market leading status and an edge over the rivals and new entrants.
It involves research , review and upgrade of production system
This is used to ensure that an existing product has the features to withstand the competition that a new product might bring
Icarus Inc. manufactures fighter planes for the government. It made a strategic decision to outsource the production of wings and turbines to another firm for the purpose of reducing production cost and development time by two years. However, the outsourcing provider developed the planes' wings and turbines using low-grade material, which led to Icarus Inc. losing its contract with the government. The loss of time and revenue was non-amendable and the company was closed down eventually. Which of the following issues associated with outsourcing best describes the cause of Icarus Inc. shutting down?
a. Security breachesb. Legal issuesc. Quality problemsd. Employee morale
Answer:
The correct answer is letter "C": Quality problems.
Explanation:
Outsourcing is the practice by which a company hires a third party to be in charge of the production of what the company typically does but at lower costs. However, in some cases, the company does not have control over the quality standards of the third party, which is likely to use low-quality assets to profit as well.
The collapse of Icarus Inc. after outsourcing wings and turbine production is best attributed to 'c. Quality problems', stemming from the use of low-grade materials by the outsourcing provider.
Icarus Inc. decided to outsource the production of wings and turbines to focus on cost efficiency and reduce production time. However, the decision to outsource led to quality problems since the outsourcing provider used low-grade materials, resulting in the loss of a government contract and the eventual closure of the company. Among the options provided, the issue that best describes the cause of Icarus Inc. shutting down is 'c. Quality problems'.
Outsourcing has various risks such as loss of control, and while it may lead to cost reduction, it can compromise the essential quality standards, especially in manufacturing sectors like aerospace.
The scenario with Icarus Inc. highlights the potential consequences when outsourcing critical components, emphasizing that managing quality is crucial when delegating parts of the production process to external providers.
What section of a cash flow statement shows the cash spent on new equipment during the past accounting period? a. The investing sectionb. The operating sectionc.The financing sectiond.The cash flow statement does not give this information
Answer:
The correct answer is letter "A": The investing section.
Explanation:
Cash flow is the movement of cash into or out of an account, a business or an investment. When cash inflows exceed outflows this is generally considered to be a sign of good financial health. Specifically in the cash flows statement, the investing section records information about material capital (land and equipment) that was acquired by the company.
Identify key components of economic growth and explain how they function in an economy.
Answer:
Explanation:
1) Employment
The development of human capital can play an important role in overcoming unemployment, which is one of the biggest problems of our age. One of the most important components of human capital is the most important education that gives people new knowledge, skills and abilities, or enhances their skills, indirectly increasing their productivity and income. The effects of education on economic development and unemployment levels have been studied by economists much later than in classical production factors. A more detailed analysis of the economic aspects of education has led to a better understanding of labor market revenues, organizational structures and economic development.
2) Industry sector and human development
The mobilization and increase of physical inputs such as labor, material capital and natural resources (the discovery of new natural resources, the shift of existing labor and capital resources across sectors, etc.) in the short-term and long-term impact on economic growth in the manufacturing process. Due to technological progress and more intensive use of human capital in the manufacturing process, the impact of increased productivity on economic growth and development occurs mainly in the medium and long term. Experience of different countries' economic development is a sustainable and sustainable economic growth
It mainly focuses on the development and technological progress of human capital.
3) Development of the agricultural sector
It is a complement to activities that involve land (farming) and animal husbandry for the purpose of acquiring agricultural, plant and animal products. Adequate and high-quality agricultural production, which is one of the main sources of nutrition and income for the population, contributes to human development, with a positive impact on people's health and wellbeing.
4) Trade, Investment Environment and Private Sector Development
There is a significant and significant relationship between the liberalization of trade and the business environment and human development. Economic development practices show that countries liberalizing their foreign trade regime, improving their business environment and opening up to foreign investments will gradually achieve higher human capital potential in parallel with this process. The emergence of a strong human capital reserve, while ensuring the sustainability of economic growth, can also lead to the process of economic growth turning into economic development.
In other words, a favorable business environment will increase human capital investment in the country by increasing the demand for quality labor resources.
Sirius has just finished high school and started looking for his first job, but has not yet found one. Other things the same, the unemployment rate A. and the labor force participation rate are both unaffected B. is unaffected, and the labor-force participation rate increases. c. and the labor force participation rate both increase. D, increases, and the labor-force participation rate is unaffected.
Answer:
D. increases, and the labor-force participation rate is unaffected.
Explanation:
When the students pass out from a university or high school and are looking for a job but unable to get a suitable one will definitely increase the unemployment rate but since Sirius has not yet started working so labor-force participation rate will be unaffected by his unemployment. There will be no effect on the labor-force participation rate but unemployment rate will increase.
Corporate social responsibility (CSR) is:
a. imposed by the law.
b. involves a commitment to self-regulation by businesses.
c. does not relate to the intent of the law.
Answer:
b. involves a commitment to self-regulation by businesses.
Explanation:
The corporate social responsibility refers to corporate responsibility towards society in order to accomplish its goals, targets, and objectives.
Without the permission of the society, the organization could not work for a longer time as it would harm the social well being and in the end the organization needs to shut its activities.
In another word, it is a commitment to the society to take care of the society as a whole while conducting its business activities so, it would be a self-regulation commitment by business
You are an experienced manager, and you fortunately have the ability to use all four managerial styles: directing, coaching, supporting, and delegating. You are currently working at Delaware Ignition, an automotive ignition manufacturer. Your team consists of engineers who are very experienced, but most have gone through several rounds of layoffs in other jobs. They are nervous about how things might play out at Delaware Ignition. Your boss has given you 2 months to create a more efficient ignition coil. Based on Situational Leadership II, what should you do? a)You should allow the engineers to do the project on their own, since they have the experience. Tell them to report back to you when they have a working model. b)You should work closely with the engineers to schedule the project and then stay in contact so that you can frequently offer reassurance and support. c)You should let the engineers handle the technical details on their own. d)Your job is to give them the resources they need to get the work done and to offer reassurance that things will be okay at Delaware Ignition. e)You should work closely with the engineers to schedule their work and create the new design. Share your expertise freely.
Final answer:
The best approach given the experienced yet anxious team of engineers is to combine a supporting and coaching managerial style. Engage closely with the team to provide both technical guidance and emotional reassurance, aiming to enhance their confidence and productivity.
Explanation:
Based on Situational Leadership II and considering the context of Delaware Ignition, where engineers are very experienced but may also be anxious due to past layoffs, the most appropriate managerial style would be a mix between supporting and coaching. Although the engineers are technically proficient, their nervousness about job security could impact their efficiency and innovation. Therefore, the right approach would involve:
Working closely with the engineers to schedule the project, indicating a strong supporting approach.Staying in regular contact to provide reassurance and emotional support, building their confidence in the stability at Delaware Ignition.Sharing expertise freely to help them in areas where they might lack knowledge or confidence, reflecting a coaching approach.Facilitating a collaborative environment where the engineers feel empowered to contribute and feel their efforts make a difference, fostering mutual respect and collegial relationships.This approach not only promotes the creation of a more efficient ignition coil but also contributes to a more committed and secure team, which aligns well with modern flat organizational structures and collegial approach.
When a company utilizies _______ it arranges for other organizations in the supply chain to perform functions that were previously performed internally.
A) offshoring
B) insourcing
C) outsourcing
D) contract manufacturing
Answer:
C
Explanation:
When a company utilizes outsourcing it arranges for other organization in the supply chain to perform functions that were previously performed internally.
Overall, how effective is the partnership between IT and the business at Hefty Hardware?
1. Identify the shortcomings of both IT and the business.
2. Create a plan for how IT and the business can work collaboratively to deliver the Savvy Store program successfully.
Answer:
The partnership between IT and the business at Hefty Hardware was ineffective as there were clear communication gaps. The business group thinks that the IT has no knowledge of the business whereas the IT team thinks that the business has no understanding of the technical issues in IT system.
Therefore, correspondence is needed by sitting and working together to achieve the common organizational goals.
Explanation:
1. Shortcomings of both IT and the business.
The business often feels that the IT don’t have the required competence for finding solution for business problems, since IT is not involved in the executive business meetings. Similarly the business managers do not understand the technical jargon when the IT tries to explain the technical aspects of the solution. Hefty Hardware do not has solid foundation and good relationship between the IT and the Business department, and this issue became the main problem that Hefty should deal with it to make sure that the current and future projects will success.
2. Plan for how IT and the business can work collaboratively to deliver the Savvy Store program successfully
To work in the same coordinated flow, IT and the business need to work collaboratively by attending the executive meetings together since the beginning where the ideas are brainstormed.
Weekly or fortnightly meetings should be held to discuss the progress and follow up on the previously decided agendas. All must be documented for review and future reference.
In the late 1980s and early 1990s, Congress passed legislation making it more difficult for outside investors to stage hostile takeovers.
This legislation likely _________ conflicts between managers and stockholders.
Answer:
The correct word for the blank space is: increased.
Explanation:
A Hostile Takeover is an acquisition of a target company by another biding company where the two (2) parties fail to reach a purchasing agreement or the target company is unwilling to go forward with a merger. Hostile takeovers commonly occur among public companies where owners are the stockholders represented by the Board of directors.
In the scenario, if legislation makes it more difficult for companies to get to agreements with international investors, the situation is likely leading to increase the differences between managers and stockholders because the executives will have fewer options to obtain more capital to accomplish the organization's goals.
Able Graphics received a $780 utility bill for the current month's electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Able Graphics make to record this transaction?
A
Utilities Payable 780
Cash 780
B
Utilities Expense 780
Accounts Payable 780
C
Utilities Expense 780
Cash 780
D
Cash 780
Utilities Expense 780
E
Accounts Payable 780
Utilities Expense 780
Answer:
B. Utilities Expense 780
Accounts Payable 780
Explanation:
The journal entry to record this transaction is shown below:
Utilities Expense A/c Dr $780
To Accounts Payable A/c $780
(Being the utility expense is recorded)
Since the utility is an expense account so it will be debited while the bill is not paid yet will become the liability so liability account is increased so we credited it
1.Which of the following are components of the opportunity cost of being a full-time student who lives at home? The things that the student would have bought with: • A higher income • Expenditure on tuition • A subscription to the Rolling Stone magazine • The income a student will earn after graduating
Answer:
Opportunity cost refers to loss arising out of a foregone option when another option or alternative is chosen.
Following would constitute the opportunity cost:
1. A Higher Income
This represents the scenario if the same student would've been working instead of being a student at home. This means the articles the student could've purchased in such a scenario with a higher income.
2 Expenditure On tuition
This is a specific cost related to being a student and would not have arose had the student been working or doing something else.
3. A Subscription to the Rolling Stones Magazine
If such a subscription directly relates to study and is essential then it represents opportunity cost otherwise not.
4. The Income student earns after graduating does not relate to the current period and hence will not constitute opportunity cost.
Two contractors are comparing the stages of the design phase for a construction project. Contractor A says that the approval of the completed DD documents by the owner occurs during the design development stage. Contractor B says that the schematic design stage is the last stage that occurs. Which one of the following statements is correct?A)Only Contractor A is correctB)Only Contractor A is correctC)Both Contractor A and Contractor B are correctD)Neither Contractor A and Contractor B are correct
Answer:
The correct answer is the option A: only Contractor A is correct.
Explanation:
To begin with, the design phase regarding a construction project involves the convertion of the idea and instructions into a creatable plan. Furthermore, this design stage counts with common but fundamental stages itself as well, including the schematic design, the design development, the construction documents and the construction administration.
Secondly, the shematic design is the first stage of the design phase for a construction project and it requires to understand what the client is looking for and to translate ideas into concepts.
Finally, the development design is the second stage of the design phase for a construction project and it involves many modifications to the original idea and also the approval of the conceptual design by the client in order to move forward to the next stage.
"The correct statement is A) Only Contractor A is correct.
In the design phase of a construction project, there are typically several stages. The schematic design stage is usually the first stage, where the project's conceptual design is developed. This is followed by the design development (DD) stage, where the design is refined and more detailed drawings and specifications are prepared. The approval of the completed DD documents by the owner indeed occurs during the design development stage, as stated by Contractor A.
The schematic design stage is not the last stage; it is followed by the design development stage and then the construction documents stage, where the final detailed drawings and specifications are prepared for construction. Therefore, Contractor B's statement that the schematic design stage is the last stage is incorrect.
Hence, only Contractor A's statement is correct, and the approval of the completed DD documents by the owner occurs during the design development stage, not during the schematic design stage as incorrectly stated by Contractor B."
According to the NFIB Small Business Policy Guide, after 10 years in business, the percentage of small firms surviving is ________.
Answer: TWENTY FIVE (25)
Explanation: NFIB (National federation of independent businesses) is an association of small businesses with members spread across the United States of America . NFIB usually collects data concerning small businesses economic trends both monthly and quarterly, since the year 1973. Through the surveys they have been able to understand the trend of survival of small Businesses which they put at 25 Small Businesses in every 100 Small Businesses. NFIB arrives at conclusions through consensus agreement among its members.
if the dollar interest rate is 10 percent, the euro interest rate is 6 percent, then an investor should:
O invest only in dollars.
O invest only in euros.
O be indifferent between dollars and euros.
O invest only in dollars if the exchange rate is expected to remain constant.
O invest only in euros if the exchange rate is expected to remain constant.
If the exchange rate is expected to remain constant, it's beneficial to invest in dollars due to the higher interest rate. If however the exchange rate is expected to fluctuate, the investor should consider the potential risk from exchange rate changes.
Explanation:The decision between investing in dollars or euros largely depends on the expected exchange rates. If the exchange rate is expected to remain constant, an
investor
would invest in dollars because the dollar interest rate is higher at 10 percent, which would yield higher returns compared to the euro's 6 percent. But if the exchange rate is expected to fluctuate, the investor needs to weigh the potential gains from the interest rate differential against potential losses from adverse exchange rate movements.
Learn more about Investment Decision here:https://brainly.com/question/32634980
#SPJ11
The following costs were incurred in September:
Direct materials $44,200
Direct labor $31,800
Manufacturing overhead $25,200
Selling expenses $22,100
Administrative expenses $37,100
Conversion costs during the month totaled:
a. $160,400
b. $76,000
c. $69,400
d. $57,000
Answer:
Option (d) is correct.
Explanation:
Given that,
Direct materials = $44,200
Direct labor = $31,800
Manufacturing overhead = $25,200
Selling expenses = $22,100
Administrative expenses = $37,100
Conversion cost:
= Direct labor + Manufacturing overhead
= $31,800 +$25,200
= $57,000
Therefore, the conversion costs during the month totaled $57,000.
If I'd like to take 1000 and put it into a savings account for a long period of time in the hopes of earning a higher interest rate and making my money grow, which type of account should I choose?
Answer:
Fixed Deposit Account
Explanation:
Commercial Banks perform this crucial role of accepting deposits & advancing loans.
3 Types of Deposits :
Current Account - Used by businesses, has liberal depositing & withdrawal rules for payments & receipts, negligible interest by bank (rather bank charges for their service).
Savings Account - Used by households, for normal savings, has deposit & withdrawal rules less free than current account, moderate interest rate by bank.
Fixed Deposit Account - Used for Long Term savings, strict withdrawal rules before maturity (interest lost if withdrawn), high interest rate & money growth.
So, If need is to save money foe long period & letting it grow meanwhile, Fixed Deposit Account is a suitable Account.
You want to buy a car, and a local bank will lend you $10,000. The loan would be fully amortized over 4 years (48 months), and the nominal interest rate would be 9%, with interest paid monthly. What is the monthly loan payment? Do not round intermediate calculations. Round your answer to the nearest cent
Answer:
the monthly paiment will be: $ 248.85
Explanation:
Total principal paid will be :$ 10,000
Total interest paid: $ 1,944.82
Month 1 :
Payment;248.85 Principal: 173.85 Interest: 75.00 Balance: 9,826.15
Month 2:
Payment:$248.85 Principal $175.15 Interest $73.70 Total interest $148.70 Balance $9,651.0
And so on...
Mont 48:
JPayment: $248.85 Principal$247.00 Interest: $1.85 Total interest:$1,944.82 Balance:$0.00
At the end of the current year, Florentina Corporation reported $25 million of net income and $405 million of retained earnings. The previous year, Florentina Corporation had $390 million of retained earnings. What were the total dividends paid to shareholders during the most recent year?
Answer:
$10 million
Explanation:
net income = $25 million
Year end retained earnings balance = $405 million
Opening retained earnings balance = $390 million
Total dividends paid to shareholders during the most recent year = ?
Retained earnings is the accumulation of the entity's net income over the years. The balance in the retained earnings account reduces when dividends are paid.
Opening retained earnings + net income - dividend paid = closing retained earnings
$390 million + $25 million - dividend paid = $405 million
$390 million + $25 million - $405 million = dividend paid
dividend paid = $10 million
The total dividends paid to shareholders during the most recent year amounts to $10 million.
Answer:
Total dividends paid out equals = $10 million
Explanation:
Dividends represent the proportion of profits paid out as return to ordinary shareholders for their ownership stake -ordinary share capital- in the business.
Retained earnings is the balance of the profit after the payment of dividends. Retained earnings serves as internal source of finance for company to fund the acquisition of non-current assets and working capital.
The balance in the retained earnings account at the end of the accounting period is computed as follows:
$
Balance at the beginning xxx
add net income made in the current period xxx
less Dividend paid (xxx)
Balance at the end xxx
So we can apply this to the question;
$
Balance at the beginning 390
add net income made in the current period 25
less Dividend paid ( y )
Balance at the end 405
Dividends is missing, so we represent it with " y"
390 + 25 -y = 405
390 + 25 - 405 = y
10= y.
Total dividends paid out equals = $10 million
Companies that have become successful with a limited standard product offering often fall into the trap of subsequently broadening their product offering without making corresponding changes to their process strategy.True or False?
Answer:
True
Explanation:
When a company successfully offers a product or few products to customers, it tends to expand the range of products it has to offer.
For a company to increase its range of products successfully, it has to realize that it must make corresponding changes to its processes to accommodate the addition of new products.
However oftentimes, companies do not make the necessary changes to their process strategy when expanding their product offerings.
If a company’s current assets increase, what might we assume about their inventory levels?a) It increasedb) It decreasedc) It stayed the samed) We don’t have enough information to decide
Answer:
We don’t have enough information to decide
Explanation:
If a company's assets increase it can be multiple things such as increase in cash, maybe buying new fixed assets such as land or building or it can be buying inventory so we do not have enough information to tell if inventory increased or not.
Global staffing has created political issues such as questioning U.S. federal legislation that restricts the number of high-skilled workers admitted from other countries. True or False
Answer:
True
Explanation:
This is true that global staffing has created political issues such as questioning U.S. federal legislation that restricts the number of high-skilled workers admitted from other countries.
ABC Hardware store is open for business 350 days a year. Annual demand for a power cutter at this store is 700 units. Replenishment cost is $15 per order, and annual inventory holding cost is 10% of the inventory value. ABC pays $20 for each power cutter. What is the economic order quantity for this cutter, and what is the reorder point if the lead time is 5 days and ABC policy is to keep a safety stock of 10 units?
Answer:
102.47 and 20
Explanation:
What is economic order quantity?
EOQ or the economic order quantity is the level of inventory which is the most optimal level for reducing inventory costs. It assumes that the supplier will supply as and when required and follows a just in time policy.
Now that we are familiar with the concept, let's recall the formula:
EOQ= SQRT( 2* D *k /h)
D - Annual demand, which is 700
k - Replenishment cost, which is $15
h - holding cost, which is 10% of inventory value = 0.1 × $20 = $2
So, EOQ = SQRT(2 * 700 * 15/2) = 102.47 units
Reorder point = daily demand * lead time + safety stock = 700/365*5+10=20 Units
Final answer:
The Economic Order Quantity (EOQ) for the power cutter at ABC Hardware store is approximately 190 units per order, and the reorder point, considering lead time and safety stock, is 20 units.
Explanation:
To calculate the Economic Order Quantity (EOQ) and the reorder point for the power cutter at ABC Hardware store, we will use the EOQ formula and take into consideration the lead time and safety stock for accurately defining the reorder point. The formula for EOQ is {(√2DS)/H}\), where D is the annual demand, S is the replenishment cost per order, and H is the annual holding cost per unit. In this case, D=700 units, S=$15, and H=10% of $20 (cost per unit) equating to $2.
The EOQ formula yields√{(2*700*15)/2}\), which simplifies to approximately 190 units per order. For the reorder point, considering a lead time of 5 days and a daily demand of 2 units (700 units/350 days), we calculate the lead time demand as 10 units (5 days * 2 units/day) plus the safety stock of 10 units, leading to a total of 20 units as the reorder point.
A customer purchased a $2,500 package of spa services on December 1st, 2022. The customer can use the spa from December 1st, 2022 through February 28th, 2023. Using the accrual basis of accounting, and assuming the spa uses a calendar year as its fiscal year, the spa should recognize ________ in revenue on its December 31st, 2022 financial statements.
Answer:
$833
Explanation:
As per accrual basis of accounting, an income is recognized when it is earned and not when cash is received for it.
In the given case, customer purchased a service for 3 months.
The position as on 31st Dec is that only one third i.e 1 month of services out of 3 months has been provided and 2 months of services is due which is yet to be provided against the collective cash received.
Hence, the spa should recognize 2500/3 i.e $833 in revenue on it's December 31st, 2022 financial statements.
Using the accrual basis of accounting, the spa should recognize approximately $861 as revenue on its December 31st, 2022 financial statements. This conclusion is drawn after considering the duration of services from December 1st, 2022 to February 28th, 2023 i.e., 90 days, and determining the portion of the revenue earned up to 31st December 2022.
Explanation:The accrual basis of accounting recognizes revenues when they are earned, not when they are received. In this scenario, the customer purchased a $2,500 package of spa services that they can avail of from December 1st, 2022 through February 28th, 2023. This period calculates to 90 days.
To calculate how much of this revenue should be recognized on December 31st, 2022, you would want to consider that out of the total 90 days, only 31 days (December 1st to December 31st) have elapsed. Thus, the revenue to be recognized is proportionate. It comes out to be ($2,500 x 31) / 90 = approximately $861.
Therefore, on December 31st, 2022 financial statements, the spa should recognize $861 as revenue. The rest of the revenue will be recognized respectively in the coming months, as and when the services are provided to the customer.
Learn more about Accrual basis accounting here:https://brainly.com/question/30727476
#SPJ12
A house costs $138,000. It is to be paid off in exactly ten years, with monthly payments of $1675. What is the APR of this loan?
Answer:
45.65%
Explanation:
Cost of House = $138,000
Total Annual Payments Cost = $138,000/12
= $ 13,800
Total Payments made = $1,675*12*10
= $ 20,100*10
= $ 200,100
APR = (20,100-13,800)/13,800
= 45.65%
The APR of a $138,000 house loan paid off with monthly payments of $1675 over ten years requires financial calculations or a financial calculator to determine.
The APR of a loan for a house costing $138,000 and paid off over ten years with monthly payments of $1675 can be calculated using the formula for the present value of an annuity. The present value (PV) equals the loan amount ($138,000), the regular payment (PMT) is $1675 per month, and the number of payments (n) is 120 (10 years x 12 months/year). The APR can be found by iterative methods or using a financial calculator, as it's difficult to solve explicitly for the interest rate in this formula without such tools. This task typically falls within the purview of a financial mathematics course or similar studies.
When the price of good A is $50, the quantity demanded of good A is 500 units. When the price of good A rises to $70, the quantity demanded of good A falls to 400 units. Using the midpoint method, what is the price elasticity of demand for this good? What happens to total revenue when price increases? Show your complete work.
Answer:
total revenue for 500 is $2500
total revenue for 400 is $2800
Explanation:
given data
price of good A = $50
quantity demanded of good A = 500 units
price of good A rises = $70
quantity demanded of good A falls = 400 units
solution
we get here Elasticity of demand that is express as
Elasticity of demand = (change in quantity ÷ average quantity) ÷ (change in price ÷ average price) .......................1
here
Change in quantity is = 400 - 500 = -100
and average quantity is = [tex]\frac{400+500}{2}[/tex] = 450
and change in price is = 70 - 50 = 20
average price is = [tex]\frac{70+50}{2}[/tex] = 60
so now we put all value in equation 1
Elasticity of demand = [tex]\frac{\frac{-100}{450} }{\frac{20}{60} }[/tex]
Elasticity of demand = -0.67
as here the elasticity of demand is inelastic because elasticity is above -1
so about total revenue when price will increases as elasticity is inelastic
so increase in price will cause increase in revenue because revenue is maximum when elasticity = -1
and increase in price will cause increases elasticity in the absolute term and revenue will increase
total revenue = price × quantity
so
total revenue for 500 = 500 × 5 = $2500
total revenue for 400 = 400 × 7 = $2800
Diaz Company owns a milling machine that cost $126,600 and has accumulated depreciation of $92,600. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations.
1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
Record the disposal of the machine receiving nothing in return.
2. Diaz sold the machine for $17,500 cash.
Record the sale of the machine for $17,500 cash.
3. Diaz sold the machine for $34,000 cash.
Record the sale of the machine for $34,000 cash.
4. Diaz sold the machine for $40,900 cash.
Record the sale of the machine for $40,900 cash.
Final answer:
The journal entries for the disposal of a fixed asset for no consideration and sale at varying cash amounts are provided, each accounting for the machine's cost, accumulated depreciation, and resulting in either a loss or gain on disposal.
Explanation:
The Diaz Company's situation involves accounting for the disposal of a fixed asset in various scenarios on their financial records.
We'll make journal entries to reflect the removal of the milling machine from the company's balance sheet and recognize any gain or loss on its disposal.
The original cost of the machine and its accumulated depreciation are provided to calculate the book value at the time of disposal.
Disposal for No Consideration
Journal Entry:
Debit Accumulated Depreciation: $92,600Debit Loss on Disposal of Machine: $34,000Credit Machinery: $126,600Sale for $17,500 Cash
Journal Entry:
Debit Cash: $17,500Debit Accumulated Depreciation: $92,600Debit Loss on Disposal of Machine: $16,500Credit Machinery: $126,600Sale for $34,000 Cash
Journal Entry:
Debit Cash: $34,000Debit Accumulated Depreciation: $92,600Credit Machinery: $126,600Sale for $40,900 Cash
Journal Entry:
Debit Cash: $40,900Debit Accumulated Depreciation: $92,600Credit Machinery: $126,600Credit Gain on Disposal of Machine: $6,900
An income statement for Sam's Bookstore for the first quarter of the year is presented below: Sam's Bookstore Income Statement For Quarter Ended March 31 Sales $ 950,000 Cost of goods sold 650,000 Gross margin 300,000 Selling and administrative expenses Selling $ 104,000 Administration 112,000 216,000 Net operating income $ 84,000 On average, a book sells for $50. Variable selling expenses are $4 per book with the remaining selling expenses being fixed. The variable administrative expenses are 3% of sales with the remainder being fixed. The contribution margin for Sam's Bookstore for the first quarter is:___________.
Answer:
$44.50
Explanation:
Selling Price $50.00
Variable selling expenses $4.00
Variable administrative expenses $1.50
Contribution Margin $44.50
Answer:
$495,500
Explanation:
First, we calculate the total number of books sold during the quarter.
950,000/50 = 19,000 books sold
Then we calculate variable selling and administrative expenses.
Variable Selling Expenses = 19,000 x 4 = $76,000
Variable Administrative Expenses = 950,000 x 3% = $28,500
Finally, we calculate contribution margin for the first quarter by deducting Cost of Goods Sold, Variable Selling Expenses and Variable Administrative Expenses from the Total Sales Value, as shown below:
950,000 - (350,000 + 76,000 + 28,500) = $495,500
The contribution margin for Sam's Bookstore for the first quarter is: $495,500