A business buyer buys goods for SEK 50,000 including VAT. (25% rate) on credit. What accounting effects does the transaction have?
Answers
The business buyer's purchase of goods on credit worth SEK 50,000 including VAT at 25% has the accounting effect of increasing both assets and liabilities.
When a business buyer buys goods on credit worth SEK 50,000 including VAT at 25%, there are accounting effects to be noted. This transaction has the effect of increasing both assets and liabilities. The assets of the buyer are increased by the value of the goods purchased, which is SEK 50,000 including VAT at 25%.This increase in assets is, however, accompanied by an increase in liabilities since the purchase is made on credit. The buyer becomes liable to pay the supplier for the goods purchased on credit. This liability is recorded as accounts payable in the buyer's books of accounts.The VAT element of the transaction also has an accounting effect. The VAT element is considered as a part of the purchase price of the goods. Therefore, the buyer's accounts will show the VAT element as part of the cost of the goods purchased on credit. This means that the buyer's costs of goods sold will increase by SEK 10,000 (VAT at 25% of SEK 50,000).
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Related Questions
What is not a criterion when evaluating financial service providers?
A. financial service provider's history
B. benefits or lack thereof
C. past and current employees
D. emerging technologies
Answers
That which is not a criterion when evaluating financial service providers is this: C. past and current employees.
What are the criteria for evaluating financial service providers?To successfully evaluate the qualification of a financial service provider, the customer must be able to look at their present and past history. They should consider their ability to incorporate emerging technologies into their businesses.
It is not really the business of the consumer to dig out the past and current employees of the business. He should be interested in other relevant factors like the above.
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Identify the lower class limits, upper class limits, class width, class midpoints, and class boundaries for the given frequency distribution. Also identify the number of individuals included in the summary.
Answers
lower class limits: 25, 35, 45, 55, 65, 75, 85. upper class limits: 34, 44, 54, 64, 74, 84, 94. class width: 10. class midpoints: 29.5, 39.5, 49.5, 59.5, 69.5, 79.5, 89.5. class boundaries: 34.5, 44.5, 54.5, 64.5, 74.5, 84.5, 94.5 (lowest class boundary is 24.5). number of individuals in the summary: 90
The smallest possible data value that can be a member of a class. The maximum data value that can be a member of a class, or upper-class limit. The greatest number that can belong to a distinct class is called the upper-class limit. Classes are divided by integers called class boundaries, which do not have the gaps that class limits do. By deducting half of the gap value (12=0.5 1 2 = 0.5) from the class lower limit, the lower border of each class is determined. The upper limit of each class is determined by multiplying the class upper limit by half of the gap value, which is equal to 12=0.5 1 2 = 0.5. The middle point is the average between the upper and lower class limitations.
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Question
Identify the lower class limits, upper class limits, class width, class midpoints, and class boundaries for the given frequency distribution. Also identify the number of individuals included in the summary.
Age (yr) when award was won: 25-34, 35-44, 45-54, 55-64, 65-74, 75-84, 85-94
Frequency: 29, 34, 16, 3, 5, 1, 2
Calculate net worth using the following information.
Assets Liabilities
car - $3,500 car loan - $3,000
savings account - $1,000 credit card - $500
cash - $80
stock - $120
$1,200
$8,200
$12,000
$500
Answers
The net worth of the person, using the given information, can be found to be $ 1, 200
What is a person's net worth ?The value of all assets less the sum of all obligations is what is known as net worth. In other words, net worth is the sum of all assets minus all liabilities.
A person's or company's net worth is the value of their assets less the amount of obligations they have. It is a crucial indicator for assessing a company's health because it offers a helpful overview of its present financial situation.
In the financial industry, one's net worth—also known as net wealth—is used to determine whether a person is eligible for a particular set of investment opportunities or financial products, such as hedge funds, structured products, or other sophisticated or alternative investments.
The net worth of a person can be found by the formula :
= Assets - Liabilities
= 3, 500 + 1, 000 + 80 + 120 - 3, 000 - 500
= 4, 700 - 3, 500
= $ 1, 200
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_____ allows industries, organizations, and companies to approach business decisions from different perspectives. Arbitration Ergonomics Tolerance Workforce diversity
Answers
Answer:
Workforce diversity
Explanation:
Workforce diversity refers to similarities and differences between employers and employees in terms of their race, religion, gender, perspectives and opinions.
Diversity is important for every industry, organization, and company since people have different perspective and views, they approach business problems differently, leading to different solutions. Diversity leads to increase profits, creativity, wide range of skills e.t.c.
How do you think keeping a budget can impact your overall wealth?
Answers
Keeping a budget can significantly impact overall wealth by promoting financial discipline and awareness.
What are the benefits?It helps individuals track income and expenses, identify unnecessary spending, and prioritize savings and investments.
Budgeting prevents debt accumulation, encourages responsible financial decision-making, and allows for better long-term planning. As a result, individuals can build emergency funds, pay off debts faster, and grow their savings and investments. By maintaining a budget, people can achieve greater control over their finances, reduce financial stress, and work towards building wealth steadily over time.
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The packaging and labeling of certain consumer goods are regulated by the
A. Securities and Exchange Commission.
B. Federal Trade Commission.
C. Department of Justice.
D. Department of Commerce.
Answers
Answer:
B. Federal Trade Commission.
Explanation:
The packaging and labeling of certain consumer goods are regulated by the "Federal Trade Commission."
Federal Trade Commission was created by the then President of the United States, Woodrow Wilson, in 1914. It is an independent agency responsible for labeling or marking all products, including marketing and environmental claims. It also functions by regulating and preventing anticompetitive business practices.
Hence, in this case, the correct answer is "Federal Trade Commission."
Where do you report a stolen credit card to efta standards or pci standards
Answers
A merchant's PCI DSS compliance can be confirmed using the PCI Report on Compliance. The PCI DSS's standards and procedures were created to increase the security of credit card-based transactions and safeguard cardholder data from fraud and other unauthorized uses of their personal data.
To protect cardholders' private information and boost the security of transactions involving credit, debit, and cash cards, the Payment credit card Industry Data Security Standard (PCI DSS) is a well-known set of rules. PCI Compliance is NOT a one-time project but an ongoing practise. Merchants (the Business Owner) are in charge of overseeing the finances of their company's activities.
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How is compound interest different from simple interest?
a
Compound interest is when interest is paid on the principal amount only. Simple interest is when interest is paid on the principal amount and on the interest already earned.
b
The money earned from simple interest can only be accessed after 1 year, while you can access the money earned from compound interest at any time.
c
The money earned from compound interest is placed into a separate account, while the money earned from simple interest stays within the same account.
d
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Answers
Answer:
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Explanation:
Compounding interest refers to adding the interest earned to the principal amount at the end of a financial period. The interest gained becomes part of the principal amount for the following financial period. It means the principal amount increases every year, which results in increased interest earnings.
Simple interest is the interest earned from the principal amount only. If no more deposits are made, then the principal amount will remain the same, and the interest earned will be constant.
Which of the following factors would not shift the cost curves of an automobile company upward?
a. a regulation requiring all automobiles be equipped with improved safety equipment
b. an increase in the price of steel used to make automobiles
c. an increase in the property tax on buildings and equipment used by the automobile
company
d. An employee develops a new method of installing doors on the cars that requires half as
many workers as before.
Answers
The factor that would not shift the cost curves of an automobile company upward is an employee developing a new method of installing doors on the cars that requires half as many workers as before. Option D.
The factor that would not shift the cost curves of an automobile company upward is an employee developing a new method of installing doors on the cars that requires half as many workers as before would actually shift the cost curves downward as it would reduce the labor cost for the company.
However, options a, b, and c would all increase the cost of production for the automobile company, thereby shifting the cost curves upward.
Hence, the right option is option D.
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Nordstrom recently launched a new website, www.NordstromSilverScreen, which features fashion information and music videos. It also includes interactive features that allow you to dress a mannequin and play around in an interactive mixing room, where you can create your own music remix while mixing and matching outfits. Nordstrom Silverscreen is an example of :__________
Answers
Answer: Experience Gives Nordstrom Customers Interactive Video, Fashion, Music and remix of the song by mixing and matching clothes on a mannequin.
Explanation:
combination plans are comprised of two types of plan features basic and____.
Answers
The combination plans are made up of two sorts of plan characteristics, the fundamental and optional.What are Combination Plans?Combination plans are a type of insurance coverage that provides both long-term care and life insurance.
They are aimed at seniors who are concerned about the rising cost of long-term care and want to protect their savings from being depleted due to extended care requirements.Features of combination plansBasic Features: A fundamental, universal level of insurance coverage is provided by these plans. The basic plan covers the cost of nursing home facilities and in-home medical assistance.
Optional Features: As optional features, combination policies offer life insurance, home health care, and an accidental death and dismemberment benefit, among other things. Some combination policies can also provide inflation coverage.
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5. (7 marks) You may have seen some shop owners selling products imported from countries such as China and South Korea. The labels on these products are written in their languages. Do you think that these shop owners do responsible marketing? If you are one of them, explain how you will market such products. (3 marks)
Answers
In order to assure customer comprehension and safety, responsible marketing would probably include making sure that product labels are correct and offering translations for information about them in the local tongue.
What link exists between the safety of food and food labels?Answer and justification Because they include information on a meal's ingredients, methods of preparation, and shelf life, food labels are crucial for ensuring food safety. So that customers may make wise choices about the safety of the food they eat, food labels are important.
How effectively have labels boosted sales of environmentally friendly goods?In conclusion, the use of sustainability labels helps to promote the consumption of sustainable foods. The inclusion of a sustainable label raises perceived quality and elicits pleasant feelings, increasing the willingness of consumers to pay for the product.
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The local diner hopes to increase its lunchtime business by 50 percent, even though it is already nearly 50 percent behind its goal for the quarter; this objective would be considered
Answers
Even though the business is way behind on its target, its goal can still be described as Specific and Realistic.
Specific and Realistic goalsTheses are clearly set out and articulated. Effect can be adequately measured. Can be accomplished based on existing resources.Even though the diner is behind target, increasing by 50% is not unrealistic and can be done with proper planning. The goal is also specific as it is targeted at 50%.
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An instrument used to enlarge or reduce a map is known as
Answers
Answer:
pantograph
Explanation:
you can use a pantograph to do this.
It has been said that no two people on an airplane pay the same price for a ticket. Prices tend to be lower if you are willing to book you trip well in advance and tend to be much higher if you have to book your trip on short notice. A non-refundable ticket costs less than a refundable ticket. Airlines use this ___________ in order to maximize the revenue they earn from each flight.
Answers
Answer:
Yield management pricing.
Explanation:
Twelve years ago, an investor bought a certain number of shares of stock for which he paid p 100 per share. at the end of each year, for the next 6 years, he received dividends of p 20 per share. thereafter he received p 10 per share at the end of each year for the next 6 years. if he sells this stock now at p 90 per share, what rate of return will he receive?
Answers
The investor will sit at a rate of return of around 170% overall in the given condition.
Who is an investor?A person who engages money into one or more classes of investment with an intention to earn monetary returns is known as an investor. In the given condition, the returns of the investor will be calculated as:
\(\rm Returns= Dividend\ for\ 12\ Years- Capital\ Loss\\\\\rm Returns= (120+60)-(10)\\\\\rm Returns= 170\)
Thus, the value of total portfolio of the investor will be p 270 and the rate of return will be calculated as 170%.
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The number of developers has increased from 7 to 14. Now the Daily Scrums do not fit in 15 minutes. What's the best response to this problem?
Answers
Answer:
Explanation:When the size of the team increases, it's common for the Daily Scrum meetings to take longer than 15 minutes. In this situation, here are a few suggestions to address the problem:
Stick to the time-box: One of the goals of the Daily Scrum is to keep the team focused and aligned, and it should not take more than 15 minutes to achieve that. As a Scrum Master, you should encourage the team to stick to the time-box and find ways to make the meeting more efficient.
Split the team: If the team is too large to fit in a single Daily Scrum, consider splitting it into smaller groups. For example, you can divide the team based on their expertise or the feature they're working on. Each group can have their own Daily Scrum and then report the status to the larger group.
Adjust the format: Another option is to adjust the format of the Daily Scrum to make it more efficient. For example, you can ask each team member to provide a written update in advance, so the meeting can focus on addressing blockers or discussing the most critical items.
Schedule additional meetings: If the team is still struggling to fit everything into a 15-minute meeting, consider scheduling additional meetings to address specific topics. For example, you can have a separate meeting to discuss technical issues or a backlog refinement session to prioritize the work.
Ultimately, the best response will depend on the specific needs and circumstances of the team. As a Scrum Master, you should work with the team to find the most efficient and effective way to conduct the Daily Scrum meetings while keeping everyone aligned and focused on the sprint goals.
A listing of all possible returns on an investment, with a chance of occurrence assigned to each return is known as _____.
Answers
How does saving money help people avoid debt?
A.by helping them reduce interest payments
B. By helping them get approved for loans
C.by helping them apply for credit cards
D. By helping them cover unforeseen expenses
Answers
Answer:
D. By helping them cover unforeseen expenses
HELP ASAP PLEASE
The CPI is calculated by comparing
the spending levels at the beginning of
each year to the end of each year. In
this way, the calculation is similar to
what?
A. Unemployment
B. Inflation
C. Circular Flow Model
Answers
Answer:inflation
Explanation:
Give two examples of products sold in perfectly competitive markets and two examples of products sold in monopolistically competitive markets.
Answers
Apples and oranges are perfectly competitive products, while Ralph Lauren cologne and Maybelline cosmetics are monopolistically competitive products.
Perfectly Competitive Markets and Monopolistically Competitive MarketsA perfectly competitive can be described as a market in which there are many buyers and sellers, no transaction costs, no barriers to entry and leave, homogeneous products, no market control by a single firm, and perfect information about the price of a good.
Two examples of products sold in perfectly competitive markets are Apples and oranges.
A monopolistically competitive market is one in which several producers compete against one another, yet sell items that differ from one another and are thus not perfect substitutes.
Two examples of products sold in monopolistically competitive markets are Ralph Lauren cologne and Maybelline cosmetics.
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an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Travis has an athletic shoe store and is currently preparing a market summary. To be most effective, the competition section of his market summary should
Answers
Based on the provided information For Travis to be most effective, the competition section of his market summary that he should do is to list both direct and indirect competitors.
What is market summary all about?The concept about market summary lets to know about stock market and how buyers and sellers negotiate prices.
Therefore, Travis list both direct and indirect competitors when making summary.
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Which group is legally responsible for implementing
protection and controls that ensure your workplace
meets safety standards?
A. Employers
B. Unions
C. Employees
D. Government
Answers
Answer:
A
Explanation:
Answer:
It SHOULD be employers but i may be wrong... if i'm not CAN I PLES HAVE BRAINLYIEST
Explanation:
Also, if i'm right there is no need to thank me unless you want too
The table shows the terms of a fixed-rate mortgage.
Which accurately describes the terms of this mortgage? Check all that apply.
The homeowner is borrowing $360,000.
The monthly interest rate is 4 percent.
Monthly payments must be made for 30 years.
The annual interest rate is 4.8 percent.
The homeowner is borrowing $200,000.
Monthly payments must be made for 360 years.
Answers
The fixed-rate mortgage concept is used in home loans. Monthly payments for 30 years, the interest rate is 4.8%, and borrowing $200,000.
What is a fixed-rate mortgage?It is usually used in home loans with a fixed interest rate during the term of the loan. It is beneficial because once the rate of interest is fixed it is not influenced by the increase in the rate in the future.
C - Monthly payments for 30 years.
D - The interest rate is 4.8 % annually
E - borrowing $200,000.
Therefore, options C, D, and E explain the fixed-rate mortgage.
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Starting in Vietnam trace the journey of the charging blocks to the store. Make a list. Also, what are the problems that producers and governments must solve? How does this affect you?
Answers
The journey of the charging blocks to the store includes manufacturing, shipping, and delivering to the destination.
The charging blocks would need to be approved through immigration and transferred to a storehouse or distribution center once they arrived in the destination country.
To minimize product recalls and other safety issues, manufacturers must ensure that the charging blocks meet high quality and safety standards.
Governments must guarantee that manufacturers follow appropriate legislation and standards, such as those governing safety, environmental protection, and labor rights when delivering to the destination country.
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Why should you complete the Free Application for Federal Student Aid (FAFSA)?
A: To eliminate a semester of college requirements
B: To find the lowest interest rates on student loans
C: To get information on the schools you are interested in
D:To identify what grant programs you qualify for
Answers
Answer:
D
Explanation:
FASFA get that money baby.
You should complete the Free Application for Federal Student Aid to identify what grant programs you qualify for. The appropriate response is option D.
What is Free Application for Federal Student Aid ?The procedure for applying for financial aid begins with the Free Application for Federal Student Aid (FAFSA). Fill out the online form. You use it to submit applications for federal student aid, including grants, loans, and work-study programs. Additionally, the majority of states and universities give non-federal aid using data from the FAFSA.
A student must have economic need, be enrolled in a diploma or certificate program at a college or university, be a U.S. citizen, or be an eligible noncitizen to be eligible for the FAFSA.
Additional conditions for federal eligibility include having a valid Social Security number, continuing to perform satisfactorily in school, and earning a high school diploma, among others.
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which of the following statements holds true for a worker adjustment and retraining notification (warn) notice in cases involving the sale of a business? group of answer choices any required notice prior to the sale being completed is the responsibility of the seller. the warn notice is mandatory every time a business is sold. the seller has to provide written notice to the federal government at least 90 days before the sale of the business. the seller of the business holds the responsibility of issuing a warn notice even after the date of the closing.
Answers
"Any required notice prior to the sale being completed is the responsibility of the seller."This statement is True among the other statements.
A Worker Adjustment and Retraining Notification (WARN) notice is a legal requirement in specific cases involving the sale of a business, ensuring that employees receive advance notice of significant changes to their employment status.
The WARN Act mandates that the seller must provide a 60-day written notice to affected employees or their union representatives, as well as to local government officials, in cases of mass layoffs or plant closures.
It is important to note that the WARN notice is not mandatory every time a business is sold, but rather only when the sale results in specific conditions that trigger the notice requirements.
The statement about providing written notice to the federal government 90 days before the sale is inaccurate. In fact, the WARN Act requires a 60-day notice period, and it is directed toward affected employees, union representatives, and local government officials, not the federal government.
Lastly, after the sale is completed, the responsibility for issuing WARN notices generally shifts to the buyer of the business. Therefore, the seller is not responsible for issuing a WARN notice after the date of closing.
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What are the advantages and disadvantages of planning?.
Answers
The advantage of planning is it helps in better controlling the business operation but the disadvantage is that increases the cost of the project by an increase in the budget.
What is planning?Planning refers to deciding or designing a path or roadmap about what things will be required in order to perform business operations to achieve the vision of the organization.
The main benefit of planning it helps in controlling operations and encourages innovation and creativity effectively through brainstorming and research.
The drawback of the planning process it seems as costly which disturbs the budget of the organization as well as it appears resistant to change which is quite challenging.
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There are no mechanisms in place to repair damaged or incorrect dna. select one:
a. true
b. false
Answers
"There are no mechanisms in place to repair damaged or incorrect DNA."
This statement is False.
Deoxyribonucleic acid (abbreviated DNA) is a molecule that includes genetic statistics for the improvement and functioning of an organism. DNA is made from related strands that wind around every different to resemble a twisted ladder — a form called a double helix.
The statistics in DNA is saved as a code made from 4 chemical bases: adenine (A), guanine (G), cytosine (C), and thymine (T). Human DNA includes approximately three billion bases, and extra than ninety-nine percent of these bases are equal in all people.
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