A receivable is an amount due from another party. The sum of money owed to a company for goods or services delivered or utilized but not yet paid for by customers is known as accounts receivable (AR). Accounts receivable are classified as a current asset on the balance sheet.
AR is any amount of money due by clients for credit purchases. The accounts receivable turnover ratio or days sales outstanding can be used to assess a company's AR strength. Accounts receivable refers to a company's overdue invoices or the money that clients owe the company. The phrase refers to accounts that a company has the right to obtain.
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What happens if you only make the minimum payment on your credit card statement?
Offering only the minimum payment keeps you in debt longer and racks up interest charges. It can also put your credit score at risk.
An extremely rainy spring and summer may impact growing crops. This is an example of what type of risk
Answer:
Environmental risk
Explanation:
In simple words, The environmental risk of farming refers to the affect that various agricultural activities have on the environments in which they operate, as well as how those impacts can be linked to those practices. Agriculture's ecological influence varies greatly depending on the activities used by growers as well as the size at which they operate.
Sally Hamilton has performed well as chief financial officer of the Maxtech Computer Company and has earned a bonus. She has a choice among the followig three bonus plans:
1. A $50,000 cash bonus paid now.
2. A $10,000 annual cash bonus to be paid each year over the next six years, with the first $10,000 paid now.
3. A three-year $22,000 annual cah bonus with the first payment due three years from now.
Sally can earn a 6% annual return on her investments.
Evaluate the three alternative bonus plans
Sally should choose the third bonus plan. It offers the highest present value, taking into account the time value of money. That is a three-year $22,000 annual can bonus with the first payment due three years from now.
Sally Hamilton is presented with three bonus plans to choose from:
1. Plan 1: Sally will receive a $50,000 cash bonus immediately. There are no additional payments or returns associated with this plan.
2. Plan 2: Sally will receive a $10,000 cash bonus right away, followed by $10,000 cash bonuses for the next six years. However, the time value of money needs to be considered to compare this plan with the others. By performing a present value calculation, the current value of the six payments amounts to $51,278. This is over $1,000 more than the first bonus plan.
3. Plan 3: Sally will receive annual payments of $22,000 for three years, starting three years from now. To assess the value of this plan, the present value is calculated. The present value of the three payments totals $57,693, which is higher than the values of the second and first plans.
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We evaluate historical sources by determining if they are valid or reliable.
True
False
Answer:
True
Explanation:
We evaluate historical sources by determining if they are valid or reliable. The given statement is True.
Why is it important to evaluate historical sources?You are prompted to use critical thinking skills while evaluating information to consider the authority, timeliness, point of view, and bias of various information sources. A book, article, or website is not always a trustworthy source of knowledge just because your search parameters are met by it.
Evaluating historical sources is an essential aspect of historical research, and determining their validity and reliability is crucial to understanding the past accurately. Validity refers to the accuracy and truthfulness of the information provided by the source, while reliability relates to the consistency and credibility of the source. Both validity and reliability are necessary to ensure that the historical source is trustworthy and can be used to support historical claims.
Thus, the mentioned above-given statement is true.
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How does capitalism helps economic growth achievement in developing countries?
i am emailing you in regards to the inventory management system you are working on. we're rolling the product out to global customers, so availability is incredibly important. i would like to hear your ideas on how we can ensure availability. lamorne task below are steps you could take to ensure availabilit. rate the effectiveness of each step. not at all effective slightly effective moderately effective very effective extremely effective write a script that can be manually run to fix any unresponsive servers. ensure that we have the ability to add more servers as needed to respond to demand. conduct a load test and ensure that the results are analyzed thoroughly. configure the database to run automated daily backups. increase the logging level to include debugging messages. move local/regional settings into a configuration service.
To ensure availability in the inventory management system being rolled out to global customers, there are several steps that can be taken.
These steps include: writing a script that can be manually run to fix any unresponsive servers, ensuring that the ability to add more servers as needed to respond to demand is available, conducting a load test and ensuring that the results are analyzed thoroughly, configuring the database to run automated daily backups, increasing the logging level to include debugging messages, and moving local/regional settings into a configuration service.
The effectiveness of each step in ensuring availability can be rated as follows:Writing a script that can be manually run to fix any unresponsive servers:
Moderately Effective Ensuring that we have the ability to add more servers as needed to respond to demand: Extremely
EffectiveConducting a load test and ensuring that the results are analyzed thoroughly: Very EffectiveConfiguring the database to run automated daily backups:
Slightly EffectiveIncreasing the logging level to include debugging messages: Not at all effectiveMoving local/regional settings into a configuration service: Moderately EffectiveThese steps can help ensure that the inventory management system is available to global customers.
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Which statement is true about the approaches used to measure the value of a nation's gross domestic product (GDP) ?
A
The expenditure approach to calculating GDP sums the components of the supply side of the economy.
B
The income approach to calculating GDP sums the income earned by the factors of production excluding profits.
C
The value-added approach to calculating GDP sums the final monetary value of output at each stage of production.
D
The expenditure approach to calculating GDP sums the market value of all final goods and services produced by foreigners in a given period of time.
E
The expenditure approach to calculating GDP sums consumption spending, investment spending, government spending, and net exports.
A. The statement that is true about the approaches used to measure the value of a nation's gross domestic product (GDP) is: E) The expenditure approach to calculating GDP sums consumption spending, investment spending, government spending, and net exports.
The expenditure approach to calculating GDP measures the total spending in an economy, which includes consumption spending by households, investment spending by businesses, government spending on goods and services, and net exports (exports minus imports).
This approach focuses on the final demand for goods and services within the economy. By summing up these components of expenditure, the expenditure approach provides an estimate of the total value of all final goods and services produced in a given period.
This approach is widely used because it captures the overall economic activity and reflects the purchasing power of individuals, businesses, and the government. The correct option is E.
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A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ 7,400,000 $ 5,624,000 Cost of goods sold 4,750,000 3,513,500 Gross margin 2,650,000 2,110,500 Selling and administrative expenses: Selling expenses 1,392,000 1,079,000 Administrative expenses 704,500 608,500 Total expenses 2,096,500 1,687,500 Net operating income 553,500 423,000 Interest expense 101,000 87,000 Net income before taxes $ 452,500 $ 336,000 Members of the company’s board of directors are surprised to see that net income increased by only $116,500 when sales increased by $1,776,000. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)
Answer:
Explanation:
In a common - size income statement , the percentages are calculated using the sales value as the base figure
This Year Last year
Sales 7,400,000 100 5,624,000 100
Cost of Goods 4,750,000 64.2 3,513,500 62.5
Gross Margin 2,650,000 35.8 2,110,500 37.5
Selling Exp. 1,392,000 18.8 1,079,000 19.2
Admin. Exp. 704,500 9,5 608,500 10.8
Total Exp. 2,096,500 28.3 1,687,500 30.0
Net Op. Inc. 553,500 7.5 423,000 7.5
Interest Exp. 101,000 1.4 87,000 1.6
NIBT 452,500 6.1 336,000 6.0
state two reasons why newly born babies are out_doored only after some few days have passed
Answer:
TEMPERATURE, DISEASES, OR EXPOSED TO HARMFUL THINGS OUTSIDE
Explanation:
who do you think is gonna win this election/who are you voting for?
Answer:
please mark me Brainliest: i think joe Biden will win definitely
Explanation:
Which one of the following statements accurately describes FICO?
A.FICO is firm that analyzes data collected by credit bureaus and generates a credit score.
B.FICO is a credit bureau.
C.FICO collects information about your financial dealings involving any sort of loan, debt, or billing.
D. FICO uses your grades and employment information to determine your creditworthiness
Answer:
c. FICO collects information about your financial dealings involving any sort of loan debt or billing.
FICO collects information about your financial dealings involving any sort of loan, debt, or billing. Thus, the correct answer is option C.
What is FICO?FICO, formerly Fair, Isaac and Company, is a data analytics business with a focus on credit scoring services that is situated in Bozeman, Montana. Its formal name is Fair Isaac Corporation. In 1956, Bill Fair and Earl Isaac started it. A standard of consumer lending in the US is the FICO score, which measures the risk of consumer credit.
A business can store a complete copy of its financial transaction data because of FICO. FICO is specifically designed to assist businesses in producing and managing financial statements for analysis and reporting as well as supporting efficient business planning and decision-making.
Therefore, FICO collects information about your financial dealings involving any sort of loan, debt, or billing.
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Which of the following statements about creating a brand is true?
Select one:
a. The key to building a brand is to use a different approach each time you mention the brand name.
b. It is relatively inexpensive to create a national brand when the product sells for less than $1
c. Creating a brand is very different from positioning.
d. Creating a brand uses the psychological principal of classical conditioning.
e. It is important not to let the customer confuse product benefits with benefit with the brand name.
Feedback
d. Creating a brand uses the psychological principle of classical conditioning. The true statement about creating a brand is option d. Creating a brand uses the psychological principle of classical conditioning.
Creating a brand involves associating positive emotions and experiences with the brand name through repeated exposure and consistent messaging. Classical conditioning, a psychological principle, helps form these associations in consumers' minds. This helps build brand recognition and loyalty.
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what major world event influenced the way nursing became a formal occupation
The major world event that influenced the way nursing became a formal occupation is the "Crimean War".
The Crimean War was a military conflict fought from October 1853 to February 1856 in which Russia lost to an alliance of Britain, France, the Ottoman Empire, and Sardinia. The war was fought because Russia wanted to expand its territories and the allies sought to limit its expansion. It was one of the first wars to be heavily documented by journalists.The significant role of nursing emerged during the Crimean War, and it became a formal occupation that had a considerable impact on the profession and healthcare in general. Florence Nightingale is the most well-known name associated with the Crimean War and the nursing profession. Florence Nightingale, an English nurse, and social reformer were sent to the Crimean War in 1854 by the British government. She was accompanied by a group of 38 volunteer nurses, and they were assigned to a British army field hospital in Scutari, Turkey. Nightingale was responsible for the establishment of an efficient nursing system and initiated significant changes that contributed to the development of modern nursing and healthcare systems. She developed sanitation systems, encouraged healthy practices such as handwashing, and introduced policies for cleanliness in hospitals, which ultimately helped reduce the death rate.
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If the expected rate of return on the market portfolio is 17% and T-bills yield 7%, what must be the beta of a stock that investors expect to return 14%?
Beta of a stock = ______
The beta of the stock is 0.7. This means that the stock is less risky than the overall market, as a beta of 1 indicates that the stock has the same level of risk as the market.
The beta of the stock can be calculated using the Capital Asset Pricing Model (CAPM) formula:
Expected return on stock = Risk-free rate + Beta*(Expected return on market - Risk-free rate)
Here, the expected return on stock is given as 14%, the risk-free rate is 7%, and the expected return on the market portfolio is 17%. Substituting these values in the formula, we get:
14% = 7% + Beta*(17% - 7%)
Simplifying this equation, we get:
7% = 10%*Beta
Dividing both sides by 10%, we get:
Beta = 0.7
A beta lower than 1 implies that the stock is less risky than the market, while a beta greater than 1 implies that the stock is more risky than the market.
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which one of these is an example of a necessary debt
Answer:
An example of unnecessary debt is when you change your clothes and don't really need on a high-interest score. Thus option C is correct.
What is unnecessary debt?
An unnecessary debt can be caused by a variety of issues such as expensive life events, having children, or moving to a new house. It may also be due to poor money management. The debt is due to those things that are not needed and hence are unnecessary.
Explanation:
a In a short response of 3-5 sentences, identify a common time-management pitfall that
you have personally experienced or are personally experiencing. Describe what time
management strategies you used to overcome that pitfall or how you will overcome the
"pitfall in the future."
Note that Procrastination is my pitfall. To overcome it, I set specific deadlines for tasks, break large projects into smaller ones and prioritize them, and use reminders to stay on track. I also try to minimize distractions while working.
What is Procrastination?Procrastination is the deliberate and unnecessary delay or postponement of something while knowing that doing so would result in negative repercussions.
It is caused by a variety of factors, including poor self-esteem, worry, a lack of organization, and, simply, an inability to inspire oneself to do unpleasant chores.
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The HR department at Clearwater Electronics received a report of a work-related injury on the production line that resulted in the employee missing several days of work. Supposedly, the employee hurt his back while lifting a box of components. However, another employee reported that the employee was not really hurt and just wanted some days off. It is the responsibility of the HR department to process workers' compensation claims and make sure the claim is not fraudulent. Which statement gives the best reason for HR to ensure that the claim is legitimate?
Answer: Fraudulent workers' compensation claims can lead to higher insurance premiums and penalties, so it is important for HR to protect the company and avoid costly mistakes.
Explanation:
With regards to the scenario in the question, the statement that gives the best best reason for the Human Resource to make sure that the claim is legitimate is because the activities of workers that are fraudulent can lead to the increase in both the insurance premium and penalties.
Therefore, every claim.has to be verified and seen to be legitimate. The HR must therefore protect the company and make sure that costly mistakes are avoided.
Explain how us exports and imports each affect domestic production. how are net exports determined?
Exports and imports affect domestic production in a way that foreign spending is made on goods produced within the border of the United States in the form of exports denoted by X, thereby increasing gross production by expenditure approach.
Thus, it must be included in determining the GDP, whereas, domestic spending on foreign products in terms of imports, denoted by M, must be excluded from the same since it decreases the overall domestic production or expenditure incurred within the domestic boundaries of the country.
"Net exports" is the excess of exports over imports.
That means,
GDP= C+I+G+(X-M)
where, C= Personal Consumption Expenditure, I= Private Domestic Investment, G= Government Expenditure, X= Exports, M= Imports
Here, Net Exports= Exports(X)- Imports(M)
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When two or more firms join together to reach a specific target market through a sweepstakes, coupon, or other promotion, this is known as:________
When two or more firms join together to reach a specific target market through a sweepstakes, coupon, or other promotion, this is known as cross-promotion.
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does non traditional careers for men mean job for women?
and does non traditional careers for women mean job for men?
"What a given group of people appreciates" are their ___________. A. Cultural contexts b. Culture shock c. Cultural education d. Cultural values Please select the best answer from the choices provided A B C D
Answer:
d. Cultural values
Explanation:
Cultural values are the values and norms that are followed by a distinct society or a group of people. In other terms, values and norms developed within the society to form its basis are said to be the cultural values. The people believe, follow, and appreciate the values. They help in defining the ways of living and leading the life. The behavior, nature, and thinking of the society is influenced or structured as per the cultural values.
Answer:
D
Explanation:
I just took the assignment
Kerry Manufacturing Company is a German subsidiary of a U.S. company. Kerry records its operations and prepares financial statements in euros. However, its functional currency is the British pound. 8 Kerry was organized and acquired by the U.S. company on June 1, 20X4. The cumulative translation 9 adjustment as of December 31, 20X6, was $79,860. The value of the subsidiary's retained earnings ex 10 in British pounds and U.S. dollars as of December 31, 20X7, was 365,000 pounds and $618,000, respec 11 On March 1, 20X7, Kerry declared a dividend of 120,000 euros. The trial balance of Kerry in euros as o December 31, 20X7, is as follows: 12 13 14 Debit Credit 15 Cash 240.000 16 Accounts Receivable (net) 2.760.000 17 Inventory (at cost) 3.720.000 18 Marketable Securities (at cost) 2.040.000 19 Prepaid Insurance 210.000 20 Depreciable Assets 8.730.000 21 Accumulated Depreciation 1.417.000 22 Cost of Goods Sold 17.697.000 23 Selling. General. and 24 Administrative Expense 4.762.000 25 Sales Revenue 26.430.000 26 Investment Income 180.000 27 Accounts Pavable 2.120.000 28 Unearned Sales Revenue 960.000 29 Loans and Mortgage Pavable 5.872.000 30 Common Stock 1.500.000 31 Paid-in Capital in Excess of Par 210.000 32 Retained Earnings 1 470 000 33 Total 40 159 000 40 159 000 34 35 36 37 38 The marketable securities were acquired on November 1, 20X6, and the prepaid insurance was acquir December 1, 20X7. The cost of goods sold and the ending inventory are calculated by the weighted-av method. 39 40 O 41 e following items are measured in at the December 31, 20x7. O 42 43 Pounds 44 Accumulated depreciation 45 Depreciable Assets 8,730,000 2,671,380 46 Cost of Goods Sold 17,697,000 5,262,294 47 Selling, General, Admin. Expense 4,762,000 1,415,886 48 Accumulated Depreciation 773,915 1,417,000 26,430,000 49 Sales Revenue 7,866,030 50 51 3000000 52 On November 1, 20X6, Kerry received a customer prepayment valued at 3,000,000 euros. On February 1, 20X7, 2,040,000 euros of the prepayment was earned. The balance remains unearned as of December 31, 20X7. 2040000 960000 53 54 55 Euros 55 56 57 Relevant exchange rates are as follows: 58 59 Pounds/ $/Pound 60 Euro June 1, 20X4 0.31 61 $1.60 March 1, 20X6 0.3 62 $1.64 November 1, 20X6 0.305 $1.65 63 0.31 December 31, 20X6 64 $1.68 0.302 February 1, 20X7 65 $1.67 March 1, 20X7 0.3 66 $1.66 December 1, 20X7 0.29 67 $1.64 68 December 31, 20X7 0.288 $1.64 20X7 average 0.297 69 $1.66 70 71 Required: 72 Prepare a remeasured and translated trial balance of the Kerry Manufacturing Company as of December 31, 20X7. 73 74 75 76 ANS: 77 78 79 80 Kerry Manufacturing Company 81 Trial Balance Translation December 31, 20X7 82 83 84 Relevant Exchange 85 86 Balance in 87 Euros (Pds/Euros) 88 240,000 89 2,760,000 90 3,720,000 91 2,040,000 92 210,000 93 8.730.000 94 17,697,000 95 4,762,000 96 97 40.159.000 98 99 1,417,000 100 26,430,000 101 180,000 102 2,120,000 103 960,000 104 5,872,000 105 1,500,000 106 210,000 107 1,470,000 108 109 110 40.159.000 111 112 Account Cash Accounts Receivable (net) Inventory (at cost) Marketable Securities (at cost) Prepaid Insurance Depreciable Assets Cost of Goods Sold Selling, General, Admin. Expense Exchange Loss Total Debits Accumulated Depreciation Sales Revenue Investment Income Accounts Payable Unearned Sales Revenue Loans and Mortgage Payable Common Stock Paid-in Capital in Excess of Par Retained Earnings Cumulative Translation Adjustment Total Credits Rate Balance in Pounds 12.183.001 0 12.183.001 Relevant Exchange Rate ($/Pds) Balance in Dollars 20.117.316 -19.392 20.117.316
The remeasured and translated trial balance of the Kerry Manufacturing Company as of December 31, 20X7, is as follows:Account Balance in Euros Relevant Exchange Rate Balance in Pounds Balance in Dollars
The remeasured and translated trial balance reflects the balances of various accounts of the Kerry Manufacturing Company as of December 31, 20X7, after applying the relevant exchange rates. The balances are presented in euros, British pounds, and U.S. dollars.To prepare the remeasured and translated trial balance, each account's balance in euros is multiplied by the relevant exchange rate to obtain the balance in pounds and dollars. The exchange rates provided in the question are used for the conversion.The remeasured trial balance helps assess the financial position of the subsidiary in the functional currency (British pounds) and the reporting currency (U.S. dollars). It considers the impact of exchange rate fluctuations.
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the assumption that because specific individuals benefit when taxes are lowered, the economy as a whole must also be stronger when taxes are lowered best illustrates the:
The assumption that because specific individuals benefit when taxes are lowered, the economy as a whole must also be stronger when taxes are lowered best illustrates the fallacy of composition.
In this context, the assumption implies that if certain individuals benefit from lower taxes, then the entire economy will automatically be stronger as a result. However, this assumption neglects the complexity and interdependence of economic systems. While lowering taxes may provide benefits to specific individuals or groups, it does not guarantee the same positive impact on the overall economy.
The overall impact of tax cuts on the economy depends on various factors, including the specific economic conditions, the allocation of tax savings, and the effectiveness of other economic policies. It is possible that tax cuts can stimulate economic growth and productivity under certain circumstances, but their effects are not universally guaranteed. The fallacy of composition arises when the assumption of individual benefits is erroneously extended to represent the collective impact on the entire economy, disregarding the potential complexities and interactions within the system.
Therefore, the fallacy of composition highlights the need to consider the broader implications and dynamics of economic policies rather than assuming that what benefits certain individuals automatically translates into a stronger economy as a whole.
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Audie is signing a contract. He doesn't mind the idea of alternative dispute resolution (ADR) but wants to preserve his right to later have any dispute that arises under the matter heard in court. Which of the following would provide him with the right to have his case heard in court after ADR? a. Nonbinding arbitration b. All of the answer choices would provide Aude the right to later have his case heard in court. c. Mediation d. Mini-trial
All of the answer choices would provide Audie the right to later have his case heard in court.
Alternative dispute resolution (ADR) methods such as nonbinding arbitration, mediation, and mini-trials are generally designed to resolve disputes outside of the court system. However, these methods are typically voluntary and nonbinding, meaning that the parties involved can choose to pursue litigation in court if they are not satisfied with the outcome of the ADR process. In the case of Audie, regardless of whether he chooses nonbinding arbitration, mediation, or a mini-trial, he can still preserve his right to have his case heard in court if a dispute arises from the matter. This ensures that Audie has the option to seek legal remedies through the court system if necessary.
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The arguments supporting spontaneous generation were finally disproved by.
Louis Pasteur finally disproved the concept of the spontaneous generation together along with his well-known swan-neck flask experiment.
Who was Louis Pasteur?
Louis Pasteur ForMemRS changed into a French chemist and microbiologist famed for his discoveries of the standards of vaccination, microbial fermentation, and pasteurization.
This tested that sure germ debris withinside the air prompted the spoiling of the broth, disproving spontaneous era – a preceding main concept of sickness that claimed the air itself changed into to blame.
Therefore, Louis Pasteur finally disproved the concept of spontaneous generation together along with his well-known swan-neck flask experiment.
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green caterpillar garden supplies inc. just reported earnings after tax (also called net income) of $9,250,000 and a current stock price of $12.00 per share. the company is forecasting an increase of 25% for its after-tax income next year, but it also expects it will have to issue 3,000,000 new shares of stock (raising its shares outstanding from 5,500,000 to 8,500,000).
If Green Caterpillar’s forecast turns out to be correct and its price/earnings (P/E) ratio does not change, the company’s management expect its stock price to be one year from now will be $9.71
The computation of stock price is shown below:-
Current EPS = Net Income ÷ Number of Common Shares Outstanding
Current EPS = $9,250,000 ÷ 5,500,000 = $1.68
Current P/E ratio = Current stock price ÷ Current EPS
Current P/E ratio = $12 ÷ $1.68 = 7.14
Next year's EPS = $9,250,000 × 1.25 ÷ 8,500,000 = $1.36
Next year's stock price = $ 1.36 x 7.14 = $9.71
Net income refers to the income of an individual or business after deducting expenses, allowances and taxes. In commerce, net income is what is left in the business after all expenses such as salaries and wages, cost of goods and raw materials, and taxes.
Is Net income the Same as Profit?
Profit simply means the remaining income minus expenses. It exists at multiple levels, depending on the type of cost that is deducted from the revenue. Net income, also known as net profit, is a single number that represents a particular type of profit. Net income is the famous last line of financial statements.
Is the net income before tax or after tax?
Gross and net are two important terms in the financial industry that refer to before and after paying a particular expense. In general, the “difference” refers to the amount after deducting expenses. Therefore, net income after tax is simply the amount remaining after deducting taxes.
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What is a benefit for working in the modern manufacturing industry?
a
Competitive salaries
b
No skills needed for entry-level positions
c
Simple technology that is easy to use
d
Repetitive responsibilities
Answer:
a. competitive salaries
Competitive salaries are a benefit for working in the modern manufacturing industry. Hence, option A is correct.
What is modern manufacturing industry?Modern manufacturing industries can be defined as the making of finished goods from raw materials.Workers in the modern work together to solve problems by producing high-quality goods.
Manufacturing is the process of creating new goods from components or raw materials. Automotive businesses, bakeries, shoemakers, and tailors are all examples of manufacturing because they all produce goods rather than provide services.
Boost the effectiveness of your company's systems. Streamline the interactions you have with suppliers and clients. boost the production process's speed, adaptability, and effectiveness. broaden the range of possible outputs.
Thus, option A is correct.
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Chapter 2 Mastery Problem
The T –
Hassan Rahim won a concession to rent bicycles in the local park during the summer. During the month of June, Hassan completed the following transactions for his bicycle rental business:
Chart of Accounts
Cash
Hassan Rahim Capital
Accounts Receivable
Hassan Rahim, Withdrawals
Supplies
Rental Income
Shed
Wages Expense
Bicycles
Maintenance Expense
Accounts Payable
Repair Expense
Concession Fee Expense
June
2
Began business by placing $7,200 in a business checking account.
3
Purchased supplies on account, $150
4
Purchased 10 Bicycles for $2,500, paying $1,200 down and agreeing to pay the rest in thirty days.
5
Purchased for cash a small shed to hold the bicycles and to use for other operations, $2,900
6
Paid cash for shipping and installation costs (considered as an addition to the cost of the shed) to place the shed at the park entrance, $400.
8
Received cash of $470 for rentals during the first week of operation.
13
Hired a part-time assistant to help out on weekends at $7.50 per hour
14
Paid a maintenance person to clean the grounds, $75.
15
Received cash, $500, for rentals during the second week of operation.
16
Paid the assistant for a weekend’s work, $150.
20
Paid for the supplies purchased on June 3, $150.
21
Paid repair bill on bicycles, $55.
22
Received cash for rentals during the third week of operation, $550.
23
Paid the assistant for a weekend’s work, $150.
26
Billed a company for bicycle rentals for an employee outing, $110
27
Paid the fee for June to the Park District for the right to the bicycle concession, $100.
28
Received cash for rentals during the week, $410.
29
Paid the assistant for a weekend’s work, $150.
30
Transferred $500 to personal checking account.
Answer:
27.
Explanation:
What rate of return is required to have $100,000 in 10 years if you start saving $5,000 a year starting now
The rate of return required to have $100,000 in 10 years with an annual savings of $5,000 starting today is 11.43%.
What is the compound interest?The compound interest is the computed interest on an investment's principal plus all previously accumulated interests.
The rate for the compound interest can be computed using an online finance calculator as follows:
Data and Calculations:
N (# of periods) = 10
I/Y (Interest per year) = 11.43%
PV (Present Value) = $5,000
PMT (Periodic Payment) = $5,000
Results:
FV = $100,117.84
Interest per year = 11.43%
Sum of all periodic payments = $50,000 ($5,000 x 10 years)
Initial deposit = $5,000
Total Interest $45,117.84
Thus, the rate of return required to have $100,000 in 10 years with an annual savings of $5,000 starting today is 11.43%.
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i sold a used textbook for $57, even though i was willing to go as low as $49 in order to sell it.
I was originally willing to go as low as $49 to sell my used textbook, but I was eventually able to get $57 for it.
I was pleasantly surprised with the outcome, as I was not expecting to get that much. I was very careful in pricing the textbook, making sure I was giving a fair price. This entailed researching how much other people were selling similar textbooks for, and making sure I was offering a competitive price.
I was also aware of the demand for the textbook, and factored that into my pricing strategy. In the end, my efforts paid off, and I was able to sell the textbook for $57.
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