Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred:
Sept. 6 Purchased calculators from Crane Co. at a total cost of $1,610, terms n/30.
9 Paid freight of $40 on calculators purchased from Crane Co.
10 Returned calculators to Crane Co. for $52 credit because they did not meet
specifications.
12 Sold calculators costing $580 for $760 to Fryer Book Store, terms n/30.
14 Granted credit of $45 to Fryer Book Store for the return of one calculator that
was not ordered. The calculator cost $32.
20 Sold calculators costing $650 for $800 to Heasley Card Shop, terms n/30.
Instructions:
Journalize the September transactions.
Answers
Answer:
Explanation:
Journal entry is a record of transaction listing the debit and credit entry of respective account .
Debit entry represent an inflow while credit entry represent an outflow
Date Description Debit Credit
Sept, 6 Inventory 1610
Acct. Payable 1610
Sept . 9 Inventory 40
Cash 40
Sept. 10 Acct payable 52
Inventory 52
Sept 12 Receivable 760
Sales 760
Cost of goods 580
Inventory 580
Sept 14 Returned sales 40
Receivable 40
Inventory 32
Cost of goods 32
Sept. 20 Receivable 800
Sales 800
Cost of goods 650
Inventory 650
Related Questions
what do the four functions of managment have in common
Answers
relationship between risk and return
Answers
Answer:
Generally, the higher the potential return of an investment, the higher the risk. There is no guarantee that you will actually get a higher return by accepting more risk. Diversification enables you to reduce the risk of your portfolio without sacrificing potential returns.
Would a macroeconomist be interested in how individual consumers respond to an increase in taxes on gasoline?
Answers
Example of how this skill can make you valuable to potential employer of self and social awareness
Answers
Answer:Self-awareness can help improve your career because it makes it easier to understand how others see you. This is key for success. It's essential to be aware of the perceptions of higher-ups, of course, but it's also important to know how you come off when you're working in a leadership capacity.
Explanation: trust
The followings are the example of how this skill can make you valuable to a potential employer of self and social awareness:
recognizing your feelings and your emotions.Identify your main coping techniques.defining your own opinions independently of outside influences.putting your happiness and purpose first.recognizing your advantages and weaknesses.What is Social Awareness?The capacity to understand others' viewpoints and have empathy for them, even those from different cultures and origins. the capacity to perceive community resources and supports, as well as to comprehend social and ethical norms for behavior.
A more peaceful workplace can be achieved through developing your self-awareness so that you can interact with coworkers, direct reports, and superiors more effectively. You can view problems more objectively and consider your possible contribution to their development. You pay attention and live in the present.
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Consider total cost and total revenue, given in the following table:
In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)
Total Cost Marginal Cost
(Dollars)
Quantity (Dollars)
0
1
2
3
4
5
6
7
5
6
8
11
15
20
26
35
05
06
07
Total Revenue Marginal Revenue
(Dollars)
(Dollars)
0
6
12
18
24
30
36
42
AAAAAAA
Profit
(Dollars)
In order to maximize profit, how many units should the firm produce? Check all that apply.
04
Answers
The solution to the given question when we consider total cost and total revenue, given in the following table:
The Financial TableQuantity | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue | Profit
------- | -------- | -------- | -------- | -------- | --------
0 | 5 | 5 | 0 | 0 | -5
1 | 11 | 6 | 6 | 6 | 1
2 | 17 | 6 | 12 | 6 | 5
3 | 24 | 7 | 18 | 6 | 4
4 | 31 | 8 | 24 | 6 | -7
5 | 39 | 8 | 30 | 6 | -9
6 | 47 | 8 | 36 | 6 | -11
7 | 55 | 8 | 42 | 6 | -13
As you can see, the firm's profit is maximized at quantity 3. This is because the marginal revenue is equal to zero at this point, which means that the firm is not making any additional profit by producing more units. In fact, if the firm produces more units, it will actually start to lose money.
Therefore, the answer to the question is 3.
In summary:
The firm's profit is maximized at quantity 3.This is because the marginal revenue is equal to zero at this point.If the firm produces more units, it will start to lose money.Therefore, the answer to the question is 3.Read more about marginal revenue here:
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Why aren't they hiring kids to work for Epic Games? They could give the workers more ideas. Not that they don't have good ideas already. Wouldn't they?
Answers
For this discussion, you should put yourself in the role of a moderator as you:
Answers
Unions are organizations that represent workers in a particular industry or profession. Their primary goal is to protect the rights and interests of workers by negotiating better wages, benefits, and working conditions.
What are the policies of the Union?Unions are organizations formed by workers to protect their interests and rights in the workplace. They advocate for collective bargaining, fair wages and benefits, workplace safety, non-discrimination, job security, training and education, and political advocacy.
What are the labor laws?Labor laws are laws that govern the relationship between employers and employees in the workplace. Examples include minimum wage laws, overtime laws, anti-discrimination laws, health and safety laws, leave laws, unionization laws, and employment contract laws. These laws govern the rights of employees to form and join unions and establish the legal requirements for collective bargaining.
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What are unions? What are their roles and policies?
What is a service economy?
OA. An economy that exhibits elements of both capitalism and socialism.
OB. An economy in which more effort is devoted to the production of services than to the production of goods.
OC. An economy that services other nations with goods.
O D. An economy in which businesses and individuals decide what to produce and buy and the market determines
quantities sold and prices.
Answers
True. In a command economy, the government takes on the role of the market by deciding what, how, and for whom to produce goods and services.
What is economy?Economy is the system of production, consumption and distribution of goods and services of a particular country or region. It is the process by which goods and services are created, exchanged and consumed. It involves the coordination of economic activities, such as the production of goods and services, their trade and consumption, and their redistribution. It also encompasses the study of the behavior of individuals, households, firms, and governments in their production, consumption and exchange of goods and services.
It answers the three basic economic questions of what to produce, how to produce it, and for whom to produce it. It also owns the factors of production, such as land, labor, and capital. The government makes decisions based on centrally-planned goals rather than market signals, and the state owns and controls most of the means of production. This type of economy is also referred to as a centrally-planned economy.
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Name some of the faculties of Nepal Sanskrit University?
Answers
Explanation:
Agricultural Engineering
Answer:
Veda, Philosophy, astronomy, yoga, homeopathy, naturopathy, history, Buddha Darshan etc
Jonathan has a universal life insurance policy with a face value of $500,000. The current cash value of the policy is $11,260. Jonathan wants
to stop paying premiums for a few months while he changes jobs. The premium is $134 per month.
Answers
The cash value of the policy be, without adding any interest, if he doesn’t pay the premiums for a year is $9,652
What is insurance policy?An insurance policy is a contract between one and insurance company which spelt out details of the agreement.
Jonathan has a policy with a face value of $500,000
The current cash value of the policy is $11, 260
The premium is $134 per month. He wants to stop paying premium for few months while he changes job.
Thus, the annual premium is,
= $134 * 12
= $1,608
Now if Jonathan does not pay the premiums for a year, then the cash value of the policy without adding interest is
= $11,260 - $1,608
= $9,652
Hence, the cash value of the policy be, without adding any interest, if he doesn’t pay the premiums for a year is $9,652
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What are the transaction costs of organising the purchase of a tourism product? Compare these costs when the transaction is carried out directly by the final consumer and when it is carried out by a tourism intermediary company.
Answers
A direct distribution channel allows consumers to buy and receive goods directly from the manufacturer. An indirect channel moves products from the manufacturer through various intermediaries for delivery to the consumer.
Your company sells over-the-counter sleep pills and has created the slogan "sleep better than a baby, sleep like a teenager." what element of strategy does this represent?
Answers
Answer: Targeting
Explanation:
Strategy refers to the integrated set of choices that managers consider when making decisions. With regards to the question above, the element of strategy that's used is the targeting strategy.
The targeting strategy is when the market is being segmented and the segments of the market tahts appropriate is then chosen aftee which product are then offered.
What are 5 reasons companies use policy handbooks
Answers
2. Minimizes risks
3. Addresses employee expectations
4. Sets expectations for employee conduct and performance
5. Communicates company policies and expectations
Which is these is true about trusts?
OA. They have less tax liability.
OB. They have multiple beneficiaries.
C. They require power of attorney.
OD. They have more tax liability.
Answers
Answer: The answer is They have more tax liability.
Explanation:Trust is a fiduciary relationship.In this, a first party gives the right to assets or the right to hold the title to a second party for the benefit of a third party.The first party is called the Grantor.The second party is called as the Trustee.The third party is called as the Beneficiary.As the trust is a seperate legal and taxable entity, the tax payment of the trusts depend upon whether it is a simple trust,complex trust or a grantor trust.The tax brackets of trusts are more compressed.So, the trusts pay more taxes than individual taxpayers.
Identify at least five different careers within the Business, Management, and Administration and Finance career clusters that you could pursue in your home state, and choose the three that appeal to you the most. Of the three, write a one-page essay describing which one would be your career choice and the educational pathway that you would have to follow in order to obtain that career. Finally, identify at least three colleges, universities, or training programs that are suited to that career choice. You can use the following resources to help you
Answers
Answer:
Five careers within the Business, Management, and Administration or Finance clusters that would be interesting to me are treasurer, underwriter, debt counselor, corporate trainer, and public relations specialist. Of those careers, the three that I think would be best suited to my skills and interests are underwriter, corporate trainer, and public relations specialist.
As a public relations specialist, I would work to create positive relationships with the media, community leaders, special interest groups, and others to help boost the image of the company for which I work. I would write press releases, speeches, and other documents as the liaison to the media. As such, it would be important for me to have excellent writing, time management, public speaking, and interpersonal skills. Because the median salary is $55,680 with an average increase in employment from 2012–2022, it could be a great starting-off point that would allow me to get into the field of public relations.
To become a public relations specialist, I would need to start by getting a bachelor’s degree in public relations. Three schools that I would consider attending to get my degree are the University of Southern California–Los Angeles, University of Texas–Austin, and the University of Tennessee. Each of these schools has established programs that offer hands-on experience in the public relations field. They also offer master’s programs in communications, so I could work toward a master’s degree, as well.
Explanation:
Answer:
Of all the jobs within the Agriculture, Food, and Natural Resources and Energy clusters, I think that the following would be the most interesting for me: seismic technician, food scientist, nursery manager, weatherization manager, and zoologist. Of these career options, I think zoologist, food scientist, and nursery manager are the ones that I would consider pursuing. I would truly enjoy being a nursery manager.
I’ve always considered myself to be someone with a “green thumb.” I enjoy gardening, so I think I would love to make a career out of working in a greenhouse with various plants. I would need to learn about the various plants in the nursery: how to care for them, how to identify when they have a disease or pest, and how to treat problems that arise. As the manager, I would also need to supervise the people working in the nursery.
Some of the skills that will help me find success as a nursery manager are creativity and excellent communication, teamwork, leadership, and problem-solving skills. I would also need to complete on-the-job training and an apprenticeship. I think it would be great to get a job working in a nursery while in high school, so I can start training while I’m still in school. It would give me an opportunity to learn from someone with experience in the field.
Although many nursery-related careers require only a certification or on-the-job training, a manager can benefit from getting a bachelor’s degree in horticulture science. Some of the best programs for horticulture science are through Washington State University, University of Florida, or Cornell University. After completing the program, I would hope to open my own nursery where I could sell plants to homeowners, landscapers, or commercial industries.
Explanation:
what motivates you in the workplace
Answers
Answer:what do you want me to help you with
Explanation: just tell me what you want me to do
A firms dividend payments less any net new equity raised is referred to as the firms
Answers
A firm's dividend payments less any net new equity raised are referred to as the firm's Cash flow to stockholders.
What is cash flow vs revenue?Revenue is the cash a business brings in from the sale of its goods and services. A company's net cash inflow and outflow are known as its cash flow. Cash flow is more of a liquidity indicator than revenue, which measures the effectiveness of a company's sales and marketing.
The amount of money a business distributes to its shareholders is known as a cash flow to stockholders. The cash dividends paid out during a reporting period are represented by this sum.
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In this assignment, you will develop a more personalized understanding of the Balanced Scorecard concept and see how your vision and mission can be linked to your goals and objectives. Using the S-M-A-R-T tools in section 6.7 of Chapter 6 in the text, create your own list of goals and objectives.
Create 4 to 5 S-M-A-R-T goals and objectives and demonstrate how they link to your Strategy Diamond and personal vision and mission statements.
Answers
Explanation:
The following are my SMART goals:-
Specific
1. I want to be physically fit within 6 months on order to be able to run a marathon in less than 3 hours.
2. I want to become a manager in my current organization from my current position as an assistant manager within the next 3 years in order to be able lead a team.
3. I want to be a lovable dad to my daughter in the next 3 months so that I can spend more quality time with her.
4. I want to become an amazing husband to my wife by spending more quality time with her and also taking her on vacations in the next 6 months.
Measurable
1. I would start my training from next week. Initially I would run 3 to 5 kilometers with walk breaks.
2. I would talk to my boss next week to ask for more responsibilities and also to ask him to let me know what is required to get promoted.
3. I would start leaving office early by being more efficient and effective in the office. I will also take my daughter on walks and play with her for 1 hour daily.
4. I would come back from office early and spend time with my wife.
Attainable
1. I will talk to other marathoners to know whether my goal is attainable and will also research about it.
2. I will talk to my colleagues whom are managers about what they did to get promoted.
3. I will talk to other dads to know whether my goal is attainable.
4. I will talk to other husbands that are successful.
Realistic
When I start measuring my progress weekly and getting a feedback from people whom I admire, then I would know how realistic my goals are.
Timely
I have given a time frame for the attainment of all these goals which is very vital.
For implementing these goals, I m going to use the Plan-Do-Act-Dare cycle.
Since my objective is to become a well rounded person in my personal and also my professional life, the above steps will surely help me in becoming that person.
The strategy diamond will consist of:-
1. Arenas- Professional and Personal
2. Vehicles- Focus and hard work
3. Differentiation- Being different and unique from others.
4. Staging- Speed of initiatives
Also, there should be an economic logic binding this.
A term that describes the whole accounting process is Accounting __________
Answers
Answer:
Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities.
Explanation:
What does excludability mean for goods and services?
The good or service is subject to the free-rider problem
An excludable good or services availability to one consumer can be affected by another consumer
The good or service had a higher social cost than private cost
An excludable good or service’s availability is dependent on payment
Answers
Considering the options available, what excludability means for goods and services is that:
"An excludable good or service’s availability is dependent on payment."
This is because the excludable good or service is a type of good that is available only to people who can pay for it.It is often referred to as private goods.Thus, people who can not afford or pay for excludable goods and services won't have access to them.Hence, in this case, the correct answer is option D "An excludable good or service’s availability is dependent on payment."
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Answer for Economics class : An excludable good or service's availability is dependent on payment.
:)
The gross domestic product (GDP) of the United States is defined as the __________all _____________ in a given period of time.
Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2018
a. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 13, 2018. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2018.
b. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 21, 2018. It sells the car at a dealership in Houston on February 10, 2018.
c. Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 5, 2018. It sells the table to a college student on December 24.
d. You chop down a cherry tree on your property in California and make a dining room table in 2018. A similar table sells for $800 in a local furniture store.
Answers
Answer:
MARKET VALUE OF
FINAL GOODS AND SERVICES, PRODUCED IN THE U.S.
NOT INCLUDED
INCLUDED
INCLUDED
NOT INCLUDED
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
a. the tire sold is not included in US GDP because it is an intermediate good. An intermediate good is a good that is used in the production of other goods. The tire is used as an input in the production of a two-door coupe
b. The car would be included as part of business spending in US GDP
C. The table would be included in GDP as part of consumption spending on durables
d. Services rendered to ones self is not recorded in GDP
Mona is opening a new business selling fake fur coats. She organizes the company as a limited liability company called Fake-It, LLC and borrows $100,000 from a local bank in Fake-It's name. She also signs a personal guarantee at the bank promising to pay the debt of Fake-It. A friend of hers, Tanner, a second-year law student, advises her not to worry about the personal guarantee, because under the law of limited liability companies, it would be illegal for anyone to attempt to hold her liable for debts of the company. Is Tanner right?
Answers
Answer:
Yes but see explanation.
Explanation:
In lay man terms, the LLC is standing as a legal entity in itself. It can sue and be sued; as if it were a person. Tanner is right but Mona is a 'member' of the company (the owner or starter is called or seen as 'a member') and part of the liabilities of the company lie on her!
The legal document that determines who to hold liable for debts of the company is the Article of Organization. This document describes the rights, the powers, the responsibilities and the liabilities of each member of the limited liability company. So, if in this document, Mona bears a bulk of the financial liability of the company, then if the company is found wanting - on the basis of debt - and a court case comes up; Mona will be one of the members on the 'hot seat'.
Her personal bank account or financial assets might be protected in a company debt case but she'll still have to appear in court and be questioned accordingly. In lay man language, it is she - a human - who opened the business, so if there's debt, the humans involved (members) will be called upon.
1. (15 points) A sales budget is given below for one of the products manufactured by the Key
Co.:
January
February
March
April
May
June
21,000 units
36,000 units
61,000 units
41,000 units
31,000 nits
25,000 units
The inventory of finished goods at the end of each month should equal 20% of the next month's
sales. However, on December 31 the finished goods inventory totaled only 4,000 units. Each unit
of product requires three specialized electrical switches. Since the production of these specialized
switches by Key's suppliers is sometimes irregular, the company has a policy of maintaining an
ending inventory at the end of each month equal to 30% of the next month's production needs.
This requirement had been met on January 1 of the current year.
Required:
a. Prepare a budget showing the required production each month for January, February, March,
and April
b. Prepare a budget showing the quantity of switches to be purchased each month for January,
February, and March.
Answers
Answer:
bkfsjbsF zc,bvjkhw 4ageyfubhjva kejdsl
Explanation:
f Honduras is open to international trade in oranges without any restrictions, it will import
tons of oranges.
Suppose the Honduran government wants to reduce imports to exactly 100 tons of oranges to help domestic producers. A tariff of
$
per ton will achieve this.
A tariff set at this level would raise
$
in revenue for the Honduran government.
Answers
Suppose that Honduras is open to international trade in oranges without any restrictions, it will import an infinite amount of oranges. Therefore, the import of oranges can be limited through a tariff. The Honduran government wants to reduce imports to exactly 100 tons of oranges to help domestic producers.
A tariff of $720 per ton will achieve this. A tariff set at this level would raise $72,000 in revenue for the Honduran government.
Tariff: It is a tax imposed by a government on imported or exported goods. The main purpose of a tariff is to limit imports and protect domestic production and employment.
In this scenario, a tariff is imposed by the Honduran government to limit the import of oranges and help domestic producers. Therefore, if the tariff is set at $720 per ton, then it would reduce the imports of oranges to exactly 100 tons, which is the desired goal of the Honduran government.
Moreover, the tariff rate multiplied by the number of imports gives the amount of revenue raised by the Honduran government, which is $720 × 100 = $72,000. Thus, a tariff set at $720 per ton will raise $72,000 in revenue for the Honduran government.
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what is your analysis on walmart financial health as of january 2021 compare to 2022
Answers
I think the analysis is good compared to the year of 2021
Here are selected 2022 transactions of Akron Corporation.
Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $ 62,000 and had a useful life of 10 years with no salvage value.
June 30 Sold a computer that was purchased on January 1, 2020. The computer cost $ 36,000 and had a useful life of 3 years with no salvage value. The computer was sold for $ 5,000 cash.
Dec. 31 Sold a delivery truck for $ 9,000 cash. The truck cost $ 25,000 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $ 4,000 salvage value.
Required:
Prepare a tabular summary to record all transactions described on the above dates.
Answers
The journal entries for the above transactions include:
Date Account title Debit Credit
Jan. 1 2022 Accumulated depreciation $62,000
Machinery $62,000
__________________________________________________________
Date Account title Debit Credit
June 30 Depreciation $6,000
Accumulated Depreciation $6,000
Accumulated Depreciation $30,000
Cash $5,000
Loss on sale of computer $1,000
Computer $36,000
Working
Yearly depreciation:
= Cost / Useful life x 6/12 months in the year
= 36,000 / 3 x 6/12
.= $6,000
Accumulated depreciation so far:
= Depreciation for 2020, 2021 and half of 2022
= 12,000 + 12,000 + 6,000
= $30,000
Loss on sale:
= Selling price - (Cost - accumulated depreciation)
= 5,000 - (36,000 - 30,000)
= -$1,000
__________________________________________________________
Date Account title Debit Credit
Dec 31 Depreciation $4,200
Accumulated depreciation $4,200
Cash $9,000
Accumulated depreciation $16,800
Gain on sale of delivery truck $800
Delivery truck $25,000
Working
Depreciation:
= (Cost - salvage value) / Useful life
= (25,000 - 4,000) / 5
= $4,200
Accumulated depreciation:
= Depreciation x 4
= 4,200 x 3
= $16,800
Gain on sale:
= Selling price - (Cost - accumulated depreciation)
= 9,000 - (25,000 - 16,800)
= $800
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Free Cash Flow
100
Growth rate
2%
Tax Rate
1%
Cost of Capital
5%
Debt-to-total value
50%
Given the data in the above, what is the terminal value of the business (using the growing perpetuity formula)?
Answers
Answer:
Explanation:
Terminal value of business Formula = FCF (1+g)/(WACC- g)
Where:
FCF= current free cash flow = 100
g= Growth rate = 2%
WACC = Weighted average cost of capital = Cost of capital = 5%
Terminal Value of the business= FCF (1+g)/(WACC- g)
Terminal Value of the business= 100 (1+2%)/(5%- 2%)
Terminal Value of the business= 3,400
Explain the role of values in the making of business ethics.How these can be incorporated in working out business strategy?
Answers
it helps by making the plan to start everything offExplanation:
what kind of kitkat are low demand?
Answers
Kitkat is one of the most selling chocolate brand. The kitkat products which are of low demands are mostly Wasabi kitkat,, whole grain biscuits, cough drop kit kat etc.
What is product demand?The demand for a product changes with taste and needs of consumers. Price elasticity, or consumer behaviour in response to price changes, is the category that describes how consumer demand responds to changes in pricing.
The individual buyer exhibited rational conduct; he sought to maximise the number of advantages, i.e., the ratio of the cost of the meal to the cost of the purchase.
Kitkat is a popular brand and many products such as biscuits, chips, cough drops and chocolate bars are delivered by them. Among them, the products that are commonly of low demand are Wasabi kitkat, cough drop kit kat and whole grain biscuits.
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James often feels underappreciated at work and feels as though his quality of
work on projects is unrecognized.
HOW CAN THIS PROBLEM BE SOLVED ?
Answers
James should solicit feedback, Inform your management, Be accountable for your contributions, and Let them know how much you appreciate them.
What does your job best for recognizing and appreciating you?They will feel most valued when you provide your staff members with a sense of purpose, success, and community.
Tell them exactly how they contribute and how they fit into the bigger picture of your firm, in addition to how they interact with their teams and the more significant business.
Verify your own worth, Exercise before work, change your attitude, and concentrate on minor victories.
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