Business

Jiminez, Inc., had the following transactions during the month of March 2015. Prepare an income statement based on this information, being careful to include only those items that should appear in that financial statement. 1. Cash received from bank loans was $10,000Revenues earned and received in cash were $9,850. 3. Dividends of $4,000 were paid to stockholders. 4. Expenses incurred and paid were $5,465
1 Answer
Suppose the nation of Canada forbids international trade. In Canada, you can obtain a hockey stick by trading 5 baseball bats. In other countries, you can obtain a hockey stick by trading 8 baseball bats. These facts indicate that:________ A. If Canada were to allow trade, it would export hockey sticks. B. Canada has an absolute advantage, relative to other countries, in producing hockey sticks C. Canada has a comparative advantage, relative to other countries, in producing baseball bats. D. All of the above are correct.
1 Answer
Organizations have three levels of management: first-line, middle, and top. Each of the managers at these levels has different levels of skills and responsibilities. First-line managers are generally responsible for the daily supervision of nonmanagerial employees and are often called supervisors. Middle managers generally oversee first-line managers and report to top managers. Middle managers ensure that organizational goals are being met by devising the best way to organize resources. Top managers are responsible for all departments and determine organizational goals and how departments achieve goals. The top management team is responsible for ensuring good working relationships among the top managers.
1 Answer
In a single sentence, contrast microeconomics and macroeconomics. Next, categorize each of the following issues as a microeconomic issue, a macroeconomic issue, or not an economic issue. (See page 3.) a. The national unemployment rate b. The decision of a worker to work overtime or not c. A family's choice to have a baby d. The rate of growth of the money supply e. The national government's budget deficit f. A student's allocation of study time across two subjects
2 Answers
a. Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a perpetual inventory system and the gross methodMar. 3 Purchased $1,150 of merchandise made from recycled material from GreenWorld Company with credit terms of 2/15, n/60, invoice dated March 3, and FOB shipping point. 4 Paid $75 cash for shipping charges on the March 3 purchase. 5 Returned to GreenWorld unacceptable merchandise that had an invoice price of $150. 18 Paid GreenWorld for the March 3 purchase, net of the discount and the returned merchandise. 19 Purchased $425 of fair trade merchandise from PeopleFirst Corp. with credit terms of 1/10, n/30, invoice dated March 19, and FOB destination. 21 After negotiations, received from PeopleFirst a $25 allowance (for scuffed merchandise) toward the $425 owed on the March 19 purchase. 29 Sent check to PeopleFirst paying for the March 19 purchase, net of the allowance and the discount.
2 Answers
You have just reviewed the financial statements of Penelope's Candy Store (PCS). You have determined that PCS has a Profit Margin of 19%. How do you explain this to owner Penelope Hassey?1)For every $19 in sales, $100 ended up in Net Income.2)For every $100 in sales, $19 ended up in Net Income.3) 19% of Net Income was generated by Profit Margin.4) 19% of sales were generated by Net Income.
1 Answer
Jenna Raiter, the president and CEO of AutoMotion Auto Service Centers, has asked several managers and employees to help establish a statement to outline the fundamental purposes of their company. The result of this effort is likely to be a document known as a(n):A. payoff matrix.B. mission statement.C. tactical plan.D. organization chart
1 Answer
Holly's Ham, Inc. sells hams during the major holiday seasons. During the current year 11,000 hams were sold resulting in $220,000 of sales revenue, $55,000 of variable costs, and $24,000 of fixed cost. The break-even point in sales dollars is: A. $320,000 B. $16,000 C. $32,000 D. $61,740
1 Answer
What is the duration of a two-year bond that pays an annual coupon of 10.8 percent and has a current yield to maturity of 13.3 percent? Use $1,000 as the face value. (Do not round intermediate calculations. Round your answer to 4 decimal places. (e.g., 32.1616))
2 Answers
An example of a Biotechnology research career is a/anSelect one:a. Risk Managerb. Social Workerc. Veterinariand. Toxicologist
2 Answers
MTH Bank has given the McKelvey's a written pledge to lend $250,000 on a new construction home, for 30 years, at 6.53%. The McKelvey's will now present this pledge to the subdivision's sales agent to continue with their new home's construction. Which loan definition applies?A. Conditional ApprovalB. UnderwritingC. Exculpatory ClauseD. Non-Recourse Clause
1 Answer
A building with a book value of $37,771 is sold for $54,543 cash. Using the indirect method, this transaction should be shown on the statement of cash flows as an increase of a.$37,771 from investing activities b.$54,543 from investing activities c.$37,771 from investing activities and an addition to net income of $16,772 d.$54,543 from investing activities and a deduction from net income of $16,772
1 Answer
Brendan and sean combined their love of baseball with a business venture. they purchased a small cart and began selling memorabilia outside of their hometown stadium. their first year went well, but the past two years have been quite a struggle. due to poor economic conditions and the teams horrible record, ticket sales at the stadium are down, which has significantly hurt their sales as well. as a recent business graduate, you explain to brendan and sean thata) this type of business is always high risk because it is seasonal.b) the business does not fill a sufficient need for most people.c) environmental circumstances are dynamic and tough to control.d) social entrepreneurs are currently getting most of the attention.
1 Answer
A ________ demand curve for shampoo would be caused by a change in the price of shampoo. a) leftward shift of the b) rightward shift of the c) movement along d) the positively sloped
2 Answers
Salaries Expense before adjustment at September 30, the end of the fiscal year, has a balance of $140,000. The amount of accrued salaries is $3,100. The closing entry (after adjustments) would be:
1 Answer
Susan could consider exploring her rights and protections under _____________which is a federal labor law.
1 Answer
The term "market" in economics refers to A. a legal institution where exchange can take place. B. a place where money changes hands. C. an organization which sells goods and services. D. a group of buyers and sellers of a product and the arrangement by which they come together to trade.
1 Answer
Why has the HRM function increased in stature and influence in many organization and How has increased globalization influenced the way HRM is practiced in the United States?
2 Answers
Hope receives an $18,500 scholarship from State University. The university specifies books, supplies, and equipment, while $10,000 is for room and board. In addition, Hope w campus library and earns $5,000. What is Hope's gross income?
2 Answers
Tori bought a dress costing $80 from Arlene's Dress Shop in a state where there is a sales tax. The tax base is the price of the dress, and the tax rate is 6 percent. What amount of tax did Tori have to pay on the purchase?
2 Answers
First Among Best Solar Inc. announces thatthey will take back free of cost, all of their solar panels that are no longer useful. Till now, the cost of disposal was significant. This action reduces___________.
2 Answers
Which of the following statements about incorporation is true? Group of answer choices 1. A corporation has to incorporate in the state in which it is based. 2. A corporation is not subject to the laws of the state in which it is formed. 3. Articles of incorporation may vary slightly from state to state. 4. Corporations are taxed the same regardless of the state in which they are chartered. 5. Corporations must register in each state in which they want to do business.
2 Answers
Write two paragraphs explaining each of the parties point of view - Lauren's as well as the CEO's. Explain your final decision on whether or not to go through with the sale as well as WHY this is your decision.
1 Answer
What is the present value of $1,500 due in 14 years at a (a) 5 percent interest rate and (b) 10 percent rate. Explain why the present value is lower when the interest rate is higher.
2 Answers