Broderick Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.
Actual Hourly Vacation Days Used 00 Sick Days Used
Wage Rate 00 by Each Employee by Each Employee
2019 2020 2019 2020 2019 2020
$10 $11 0 9 4 5
Broderick Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.
Instructions
a. Prepare journal entries to record transactions related to compensated absences during 2019 and 2020.
b. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020.
Answers
Answer:
A.
2019
Dr Salaries and Wages Expenses $7,200
Cr Salaries and Wages Payable $7,200
2019
Dr Salaries and Wages Expenses $4,320
Cr Salaries and Wages Payable $4,320
2019
Dr Salaries and Wages Payable $2,880
Cr Cash $2,880
1b.
2020
Dr Salaries and Wages Expenses $7,920
Cr Salaries and Wages Payable $7,920
2020
Dr Salaries and Wages Expenses$4,752
Cr Salaries and Wages Payable $4,752
2020
Dr Salaries and Wages Expenses $ 648
Dr Salaries and Wages Payable $6,480
Cr Cash $7,128
2020
Dr Salaries and Wages Expenses $ 144
Dr Salaries and Wages Payable $3,816
Cr Cash $3,960
B. Vacation Wages Payable at December 31, 2019= $7,200
Sick Pay Wages Payable at December 31, 2019= $1,440
Vacation Wages Payable at December 31, 2020 = $8,640
Sick Pay Wages Payable at December 31, 2020
= $2,376
Explanation:
A. Preparation of the journal entries to record transactions related to compensated absences during 2019 and 2020.
1a) Prepare journal entries to record transactions related to compensated absences during 2019
2019
Dr Salaries and Wages Expenses $7,200
Cr Salaries and Wages Payable $7,200
(9 employees * $10 per hour * 8 hours per day * 10 days)
(Being to Record Accrue expenses and liabilities for Vacations)
2019
Dr Salaries and Wages Expenses $4,320
Cr Salaries and Wages Payable $4,320
( 9 employees * $10 per hour * 8 hours per day * 6 days )
(Being to Record Accrue expenses and liabilities for Sick Pay)
2019
Dr Salaries and Wages Payable $2,880
Cr Cash $2,880
( 9 employees * $10 per hour * 8 hours per day * 4 days)
(Being to Record Sick leave paid)
1b) Preparation of the journal entries to record transactions related to compensated absences during 2020
2020
Dr Salaries and Wages Expenses $7,920
Cr Salaries and Wages Payable $7,920
( 9 employees * $11 per hour * 8 hours per day * 10 days )
(Being to Record Accrue the expense and liability for Vacations)
2020
Dr Salaries and Wages Expenses$4,752
Cr Salaries and Wages Payable $4,752
(9 employees * $11 per hour * 8 hours per day * 6 days)
(Being to Record Accrue the expense and liability for Sick Pay)
2020
Dr Salaries and Wages Expenses $ 648
($7,128- $6,480)
Dr Salaries and Wages Payable $6,480
( 9 employees * $10 per hour * 8 hours per day * 9 days )
Cr Cash $7,128
(9 employees * $11 per hour * 8 hours per day * 9 days)
(Being to Record Vacation Time paid)
2020
Dr Salaries and Wages Expenses $ 144
($3,960-$3,816)
Dr Salaries and Wages Payable $3,816
[(9 employees * $10 per hour * 8 hours per day * 2 days )+(9 employees * $11 per hour * 8 hours per day * 3 days)]
Cr Cash $3,960
( 9 employees * $11 per hour * 8 hours per day * 5 days)
(Being to Record Sick Leave Paid)
B. Computation for the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020.
1) Calculation for the Vacation Wages Payable at December 31, 2019
Vacation Wages Payable at December 31, 2019=$0 + $7,200 - $0
Vacation Wages Payable at December 31, 2019= $7,200
2). Calculation for Sick Pay Wages Payable at December 31, 2019
Sick Pay Wages Payable at December 31, 2019=$0 + $4,320 - $2,880
Sick Pay Wages Payable at December 31, 2019= $1,440
3) Calculation for Vacation Wages Payable at December 31, 2020
Vacation Wages Payable at December 31, 2020=$7,200 + $7,920 - $6,480
Vacation Wages Payable at December 31, 2020 = $8,640
4) Calculation for Sick Pay Wages Payable at December 31, 2020
Sick Pay Wages Payable at December 31, 2020=$1,440 + $4,752 - $3,816
Sick Pay Wages Payable at December 31, 2020
= $2,376
Related Questions
You have an opportunity to work three hours of overtime and earn an extra $99 gross income. However, a total of $32 will be taken out for federal, state, and local taxes. You parked in the parking garage and will have to pay $6.50 total to park for the additional hours. You also didn't pack an extra meal, which you already have in the refrigerator at home; so you will have to spend $12 for food. You will also have to pay $55 for additional daycare for your children. According to the marginal principle and everything else equal (ceteris paribus); will you work the overtime? Why or why not? (Show your work) (10 %)
Answers
Answer:
no
the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime
Explanation:
According to the marginal cost principle, i would be willing to work if marginal benefit exceeds marginal cost
Marginal cost = 32 + 6.5 + 12 + 55 = 105.50
Marginal benefit = 99
the marginal benefit of working overtime in terms of income is less than the marginal cost of working overtime. So, i won't work overtime
What are the pros and cons of the JIT Strategy in company’s operation ?
Answers
Answer:
Just-in-time (JIT) inventory systems started in Japan in the 1970s and spread to the U.S. about a decade later. JIT is an inventory-management system that aims to help businesses have just enough inventory readily available to meet current demand while avoiding excess. There are many pros and cons for a small business to consider before adopting a JIT system.
Your country takes in $350 million each year in tax money but chooses to spend $150 million on various services it provides. What type of stance does your country take on fiscal policy?.
Answers
The fiscal policy of a country can be determined by its spending and taxation decisions. In this case, the country is taking in $350 million in taxes each year, but is only spending $150 million on various services.
This suggests that the country is taking a fiscally conservative stance, which generally involves reducing government spending in order to balance the budget and decrease taxes. This type of fiscal policy is intended to keep government spending under control, while also leaving money for other government services and private investments. In addition, this type of fiscal policy can help to keep inflation low and maintain economic stability. By taking a fiscally conservative stance, this country is likely attempting to reduce its budget deficit while also giving citizens more money to invest in the private sector.
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Which of these companies is demonstrating a first-mover advantage? The level of satisfaction Simon experienced when dining at the Tasty Cafe was highest the first time butreducedeach time he dined there. The first 50 people who respond to the tweet sent out by Hal’s Hamburgers receive a $5 coupon they can use on their next order. Innovative Creations Inc. was the first to exit the declining pager phone manufacturing industry and as a result, it avoided losinga lot of money. Jenna has been asked to review the mascara she bought from AllWell Beauty. Her feedback will help the company improve the product. Tide-All Inc. has more than 50 percent market share in the telecom industry, because no other company has invested in thisindustry before Tide-All Inc.
Answers
Answer:
Tide-All Inc. has more than 50 percent market share in the telecom industry, because no other company has invested in thisindustry before Tide-All Inc.
Explanation:
In marketing, first-mover advantage can be regarded as competitive advantage which is gained by initial significant occupant of particular segment of the market. first-mover advantage can also be regarded as ability of a firm to be better off compare with it's competitors due to the fact that it is the first to market new product category. For instance, Tide-All Inc. has more than 50 percent market share in the telecom industry, because no other company has invested in thisindustry before Tide-All Inc.
An employer's defense to an employment discrimination claim might include a simple demonstration that the employee's evidence is not true. This defense might include all of the following except
Answers
An employer's defense to an employment discrimination claim might include a simple demonstration that the employee's evidence is not true. This defense might include all of the following except "the employee is a known liar".
What is a defense in law?
A defendant may establish a defense in a civil case or criminal prosecution under common law or legislation in order to avoid civil responsibility or criminal guilt.
What is Evidence?
The evidence for a proposition is what backs up that assertion. It is commonly seen as proof that the supported statement is correct. The function of evidence and how it is conceived differs by discipline.
How can a lie be detected during a legal proceeding?
The polygraph is the most well-known tool for detecting deceit through psychophysiological means.
All of these strategies are designed to identify deceit by evaluating indications of changes in the body that are ordinarily undetectable by human inspection.
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How is emotional intelligence related to motivation?
Answers
Answer:
Emotional intelligence means being self-motivated
Self-motivation relates to internal drive. Emotionally intelligent individuals understand the deeper meaning of their goals and the self-motivation skills required to achieve them.
Answer:
The results show that emotional intelligence is positively related to positive emotions and negatively related to negative emotions. Positive emotions positively predict both self-motivation towards physical education classes and resilience. Resilience positively predicts self-motivation.
What could the owner of a movie theater expect as the possible result from an increase in movie ticket prices?
A The demand will increase.
.
O B. The quantity demanded will decreases
OC The supply will decrease
D. The quantity supplied will decrease.
Answers
Answer:
C
Explanation:
Fewer Movie goers will pay a hier price
The supply will decrease could the owner of a movie theatre except as the possible result from an increase in movie ticket prices. Hence, option C is correct.
What is meant by movie ticket prices?
A ticket is a compact, official document or card that serves as proof that you have paid for admission to a venue such as a theatre or sporting event.
The cost of seeing a movie on average every year at the box office is known as the average ticket price. According to the UNESCO Institute for Statistics, the ATP is "calculated as the total earnings from ticket sales divided by the number of feature film tickets sold during the year of reference."
In movie theaters, there are senior discounts and matinee discounts, but there aren't different prices for various films playing at the same time.
Thus, option C is correct.
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what are thought about spending you money don’t have?
Answers
Answer:
1. I need it or do I want it.
2. its cute
3. i will pay my debt some other day
Explanation:
Answer:
Do not save what is left after spending, but spend what is left after saving. – Warren Buffett
Explanation:
When the fourth wealthiest person in the world talks about money, it makes sense to listen. Known for living simply despite his means, we couldn’t agree more with this bit of advice from Warren Buffett. If you don’t make putting money away for the future a priority, you’ll never get around to doing it. And when you need it, it won’t be there. Starting and sticking to a savings plan is something you’ll never regret.
Based on the evidence available to you, which investment opportunity is more likely to be fraudulent? What are the true risks of investment with this company, and does the company accurately describe these risks? What are the potential returns on an investment, and does the company accurately describe these returns?
Answers
It is important to note that any investment opportunity can be risky, and investors should always conduct thorough the research and seek professional advice before making any investment decisions.
What is an investment?Investment refers to the act of allocating resources, such as money, time, or effort, with the expectation of generating a profitable return in the future. Investments can take many forms, including stocks, bonds, real estate, mutual funds, and businesses. Investors aim to grow their wealth over time by investing in assets that will appreciate in value, generate income, or both. However, investing also carries risks, such as market fluctuations, economic downturns, and unforeseen events that can impact the value of investments. To make informed investment decisions, investors need to conduct research, analyze data, and evaluate the potential risks and rewards of different investment opportunities. Diversification, asset allocation, and a long-term investment horizon are some of the strategies used to manage risk and optimize returns.
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Question 4 of 10
During a depression or recession, which of the following is most likely to
happen to interest rates?
A. Interest rates will likely decrease as the Federal Reserve Board
increases inflation rates.
O B. The Federal Reserve Board will likely lower interest rates.
O C. Interest rates will likely rise as the Federal Reserve board
decreases inflation rates.
O D. The Federal Reserve Board will likely raise interest rates.
SUBMIT
Answers
B.The federal reserve board will likely lower interest rates
Explanation:
pa brainliest po ako png taga sagot ng mga new question
1. Assume two countries (Portugal & Britain) each produce wine and cloth. Given the following details with respect to resources required to produce each good in each country, answer the following questions. b. a. What is the opportunity cost of producing each good in each country? (4 Points) Draw the Production Possibilities Frontier for each country assuming no trade and 500,000 labor hours (use wine as the x-good). (10 Points) Provide an interpretation of the slope of the PPF in this example (8 Points) If these countries engaged in international trade, in what range would the relative prices have to be to ensure mutually beneficial trade, and which good would each country specialize in? (10 Points) e. Assuming the relative price with trade of wine is 0.67 cloth and the relative price of cloth is 1.48 wine, calculate the gains from trade and show on the PPFs the expanded consumption choices for each country. (16 Points) c. d. Country Production (1 Hour of Labor Time) Cloth Wine Portugal 2.85 Britain 3.4 5.3 4.2
Answers
a. The opportunity cost of producing wine in Portugal is 0.35 units of cloth, and the opportunity cost of producing cloth in Portugal is 2.85 units of wine.
b. The slope of the PPF represents the opportunity cost of producing one good in terms of the other. In this case, the slope of Portugal's PPF is -0.35, and the slope of Britain's PPF is -0.71.
c. If these countries engaged in international trade, the relative prices of wine and cloth would have to be within the range of Portugal's opportunity cost of producing wine (0.35 units of cloth) and Britain's opportunity cost of producing wine (0.71 units of cloth).
d. Assuming the relative price with trade of wine is 0.67 cloth and the relative price of cloth is 1.48 wine, then Portugal would specialize in producing wine and Britain would specialize in producing cloth. Portugal would export wine and import cloth, and Britain would export cloth and import wine.
How to explain the informationIf the relative price of wine were below 0.35 units of cloth, then Portugal would be able to produce wine more cheaply than Britain, and it would not be in Portugal's interest to trade. If the relative price of wine were above 0.71 units of cloth, then Britain would be able to produce wine more cheaply than Portugal, and it would not be in Britain's interest to trade.
The gains from trade are the increase in consumption that countries experience after they specialize and trade. In this case, the gains from trade are represented by the shaded area in the graph. The gains from trade are a result of the increased efficiency that is possible when countries specialize in the production of goods that they have a comparative advantage in.
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Arthur files a single income tax return and his maximum tax-free interest under the education savings bond program is $6,000. How much of the interest is excludible if his modified adjusted gross income exceeds the applicable dollar limit by $5,000 (one-third of the phaseout range)?
Answers
If Arthur files a single income tax return and his maximum tax-free interest under the education savings bond program is $6,000. The amount of interest that is excludible is: $2,000.
How to find the interest that is excludible?Using this formula to find the interest that is excludible
Excludible interest = Maximum tax-free interest × Phaseout range
Where:
Maximum tax-free interest = $6,000
Phaseout range = 0ne -third = 1/3
Let plug in the formula
Excludible interest = $6,000 × 1/3
Excludible interest = $2,000
Therefore we can conclude that the excludible interest is $2,000.
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100 POINTS HELP PLEASE If you produce corn and soybeans, what percentage of your production is soybean when 25% of what you produce is corn?
A. 0%
C. 50%
B. 25%
D. 75%
Answers
Answer:
75%
Explanation:
If 25% of what you produce is corn, then the percentage of your production that is soybeans is 100% - 25% = 75%. This means that if you produce corn and soybeans, 75% of your production is soybean. Therefore, the answer is 75%.
Since you’re producing 25% soybeans, all you would need to do to find out what percentage of your production is corn is subtract 25% from 100%, aka 100-25, leaving you with 75 or 75% of your production being corn.
Flexibility/Flexiblization a. Describes the ability of contemporary corporations to respond to market changes quickly by bribing the president b. Describes the ability of contemporary corporations to respond to market changes quickly by bribing union bosses c. Describes the ability of contemporary corporations to respond to market changes quickly by using subcontractors instead of hiring more regular employees. d. Describes the ability of contemporary corporations to respond to market changes quickly by hiring more regular employees instead of using subcontractors
Answers
Flexibilization/Flexibility describes
" The ability of contemporary corporations to respond to market changes quickly by using subcontractors instead of regular employees". (C)
Some firms would rather hire flexible subcontractors instead of regular or internal employees, this helps them cut cost, they can also increase or decrease their workforce easily.
Flexibilization may undermine labor rights because these subcontractors don't have the same right as regular employees and job security is not assured.
Hence, Flexibilization basically means outsourcing jobs to sub contractors as a result of market changes rather than hire regular employees.
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Thomas Company uses a standard cost system. Information for raw materials for Product RBI for the month of October follows: Standard unit price $1.75 Actual purchase price per unit $1.65 Actual quantity purchased 4,000 units Actual quantity used 3,900 units Standard quantity allowed for actual production 3,800 units What is the materials purchase price variance
Answers
Answer:
Material price variance = $400
Explanation:
A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite.
It is is computed as follows:
The material price variance
$
4000 units should have cost (4,000× 1.75) = 7,000
but did cost - actual cost (4,000× $1.65) = 6,600
Material price variance 400 favorable
Material price variance = $400
What is the value of $1000 investment that loses 5% each year for eight years
Answers
Answer:
$663.420
Explanation:
The value for the investment is the future of $1000, earning a compound interest of -5% for eight years.
The formula for compound interest is as below.
FV = PV × (1+r)^n
Fv = $1000 x ( 1 + (-5/100)^8
Fv= $1000 x (1 +(-0.05)^8
FV= $1000 x (0.95)^8
Fv=$1000x 0.6634204
Fv=$663.420
The value will be $663.42
Answer:
663.42
Explanation:
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Budgeting is a powerful tool for all businesses. Budgets play a vital role for both the public and private sectors in the development of a sound business strategy.
Discuss why budgets are so important for all organizations.
Describe some advantages and disadvantages to budgeting.
Answers
Budgeting is important for all organizations as it helps in setting clear financial goals, aligning resources, and monitoring performance. However, it also has some drawbacks such as being time-consuming, inflexible, and may not always reflect real-world situations accurately.
Budgeting is essential as it provides a roadmap for the organization to follow and helps in ensuring that resources are allocated efficiently. By setting clear financial goals, businesses can prioritize their spending and make informed decisions about investments.
Budgets also help in monitoring performance and identifying areas where improvements can be made. However, budgeting can be time-consuming and may not always reflect real-world situations accurately, leading to inflexibility and potential missed opportunities. It is crucial to strike a balance between the benefits and drawbacks of budgeting to ensure its effectiveness.
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Joe signed a listing agreement with Marisa. A week later, Marisa’s co-worker, Tina, showed Joe a property that he’s interested in buying once his home sells. A week after that, Ross submitted an offer on Joe’s property on behalf of his buyer client. Who is Joe’s agent?
Answers
Answer:
Explanation:
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The difference between the lower class limits of adjacent classes provides?
Answers
Answer:
C
Explanation:
3. As a project manager, you email all team members requesting their feedback on processes and their preferred
method of collaboration. Which aspect of effective team building does this scenario demonstrate?
Answers
The aspect of aspect of effective team building does this scenario demonstrates is "Promote psychological safety" (Option D)
What is Effective Team Building?Team development is a continuous process that assists a work group in becoming a cohesive one. Not only do team members share expectations for completing group work, but they also trust and support one another and appreciate one another's distinctive characteristics.
It fosters trust, reduces conflict, promotes communication, and fosters collaboration. Effective team building results in more engaged employees, which is beneficial to corporate culture and the bottom line. It may also be exciting and fun if done with a little flair.
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Full Question:
Although part of your question is missing, you might be referring to this full question:
As a project manager, you email all team members requesting their feedback on processes and their preferred method of collaboration. Which aspect of effective team building does this scenario demonstrate?
Answers
Prioritize tasks
Listen and ask questions
Celebrate team success
Promote psychological safety
If all could be answered it would be great. I am a Teachers Assistant but wasn't there for her lesson so I unfortunately do not have access to the lesson. if these can be explained, I'd appreciate it! thank you.
Answers
Answer: 1 to build positive connection with clients
2 Handle the situation in a proper manner never break your position
3 try and give step by step instruction in order resolve or overcome the issue
4 same deal just a communitive walk through for the customer so it easy to understand and comprehend
5 stress is tough i admit but there are was to prohibit this. such as do one thing at once staying focused and never break out of the work force habitat so to say
Explanation:
Discuss why positive thinking is critical in starting the entrepreneurship journey
Answers
1. Motivation: Starting a business can be challenging, and there will be times when things don't go as planned. Positive thinking can help entrepreneurs stay motivated and focused on their goals, even when faced with obstacles.
2. Resilience: Entrepreneurship is a journey filled with ups and downs. Positive thinking helps entrepreneurs build resilience and bounce back from setbacks quickly. It enables them to focus on solutions rather than dwelling on the problems.
3. Creativity: Positive thinking encourages entrepreneurs to think creatively and come up with innovative solutions to problems. Positivity can help entrepreneurs see possibilities where others may only see challenges.
4. Confidence: A positive mindset can help entrepreneurs approach challenges with confidence, which can be critical when making important business decisions. It helps entrepreneurs believe in their abilities and their vision, which can be contagious and attract others to their business.
5. Networking: Positive thinking can also help entrepreneurs build strong relationships with others. People are naturally drawn to positive individuals, and this can help entrepreneurs build a strong network of supporters, mentors, and partners.
In summary, positive thinking is critical in the entrepreneurial journey because it helps entrepreneurs stay motivated, builds resilience, encourages creativity, boosts confidence, and enables entrepreneurs to build strong relationships with others.
Do high risk or low risk investment have a higher return potential?
Answers
Although there is a chance that high-risk investments will produce greater returns than other types, they also pose a higher danger to your capital.
Why do you use the term "investment"?
An asset or item purchased with the intention of creating income or recognition is said to as an investment. A buy of goods that aren't consumed immediately but will be used to generate wealth later on is referred to as an investment in an economic outlook.
Which four sorts of investments are there?
There are four basic asset classes, or investment types, from which you can select. Each has unique characteristics, dangers, and benefits.
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The following balances were extracted from the books of VE Enterprise on 31 December 2021.
Particular RM RM
Capital 50,000
Motor vehicles 90,000
Fixtures & fittings 48,500
Inventory as at 1 January 2021 32,200
Allowance for doubtful debts 500
Accumulated depreciations as at 1 January 2021:
Motor vehicles 16,000
Fixtures & fittings 10,400
3% fixed deposit 30,000
4% bank loan 50,000
Sales 199,070
Purchases 73,500
Sales returns 2,050
Purchases returns 2,120
Discount allowed 2,550
Discount received 2,830
Account receivables 37,700
Account payables 48,650
Carriage inwards 3,570
Interest received 450
Commission received 2,600
Salaries 16,100
Electricity bills 5,400
Custom duty on purchases 3,000
Insurances 450
Maintenance expenses 3,300
Drawing 2,300
Cash in hand 6,800
Cash at bank 25,200
Additional information:
1. Inventory as at 31 December 2021 18,180
2. Depreciation for the year ended 31 December 2021 has yet to be provided as follows:
a. Fixtures & fittings: 10% using straight line method
b. Motor vehicles:15% using reducing balance method.
3. Electricity bills was paid in advanced by RM500. Meanwhile RM400 commission are not
received yet.
4. One of the customers Amri Sport Enterprise was declare bankrupt and unable to pay the
debt amount RM700
5. The provision for doubtful debts is to be adjusted to 5% based on remaining account
receivables
6. Salaries are accrued by RM140.
3
7. ‘Purchases’ include goods valued at RM1,040 that were withdrawn by Azwin for her own
personal use.
Required:
a) Prepare Income Statement for the year ended 31 December 2021
(15 marks)
b) Prepare Statement of Financial Position as at 31 December 2021
Answers
a. The Income Statement for the year ended 31 December 2021 is RM80,360.
b. The Statement of Financial Position as at 31 December 2021 is RM206,645.
a) Income Statement for the year ended 31 December 2021:
Sales: RM199,070
Less: Sales returns: RM2,050
Net Sales: RM197,020
Cost of Goods Sold:
Opening Inventory: RM32,200
Purchases: RM73,500
Less: Purchases returns: RM2,120
Add: Carriage inwards: RM3,570
Goods Available for Sale: RM107,150
Less: Closing Inventory: RM18,180
Cost of Goods Sold: RM88,970
Gross Profit: RM197,020 - RM88,970 = RM108,050
Operating Expenses:
Discount allowed: RM2,550
Salaries: RM16,100 + RM140 = RM16,240
Electricity bills: RM5,400 - RM500 = RM4,900
Custom duty on purchases: RM3,000
Insurances: RM450
Maintenance expenses: RM3,300
Total Operating Expenses: RM30,340
Net Profit before Non-operating Items:
Gross Profit - Operating Expenses: RM108,050 - RM30,340 = RM77,710
Non-operating Items:
Interest received: RM450
Commission received: RM2,600 - RM400 = RM2,200
Total Non-operating Items: RM2,650
Net Profit before Tax:
Net Profit before Non-operating Items + Total Non-operating Items: RM77,710 + RM2,650 = RM80,360
b) Statement of Financial Position as at 31 December 2021:
Assets:
Non-current Assets:
Motor vehicles: RM90,000 - (RM90,000 * 15%) = RM76,500
Fixtures & fittings: RM48,500 - (RM48,500 * 10%) = RM43,650
Total Non-current Assets: RM120,150
Current Assets:
Inventory: RM18,180
Account receivables: RM37,700 - (RM37,700 * 5%) - RM700 = RM35,815
Prepaid electricity bills: RM500
Cash in hand: RM6,800
Cash at bank: RM25,200
Total Current Assets: RM86,495
Total Assets: RM206,645
Liabilities and Equity:
Equity:
Capital: RM50,000
Retained Earnings: RM80,360
Total Equity: RM130,360
Current Liabilities:
Account payables: RM48,650
Bank loan: RM50,000
Total Current Liabilities: RM98,650
Total Liabilities and Equity: RM206,645
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An engineer has designed a valve that will regulate water pressure on an automobile engine. The valve was tested on 270 engines and the mean pressure was 6.0 pounds/square inch (psi). Assume the population standard deviation is 0.6. The engineer designed the valve such that it would produce a mean pressure of 6.1 psi. It is believed that the valve does not perform to the specifications. A level of significance of 0.05 will be used. Find the P-value of the test statistic. Round your answer to four decimal places.
Answers
Since the P-value is less than the significance level, = 0.05 , we reject the null hypothesis
Decision is reject H0
What is P-Value?The P-value is a crucial metric of statistical significance utilized to measure the probability of obtaining a result equal to or more extreme than the observed one, provided that the null hypothesis is accurate.
If its value is lower than the predetermined level of significance (most commonly set at 0.05), then rejecting the null hypothesis is justified. The smaller the calculated P-value, the stronger the evidence against the null conjecture. Consequently, its ample usage in hypothesis testing has established it as an essential element in assessing the wordiness of research findings.
How to solve:
Given :
Sample size, n = 270
Sample mean,
= 6
Population standard deviation,
= 0.6
Population mean,
= 6.1
Significance level,
= 0.05
P-value : 0.0061
P-value with test statistic z= -2.74 is
Conclusion :
There is sufficient evidence to support the claim that the valve does not perform to the specifications
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Sarah grows rosebushes that she decided to sell online. Sarah sells a rosebush to a buyer in Quebec, but the plant dies in transit. Is Sarah liable, or is her sole proprietorship liable, or both?
A- Sarah is liable.
B- Both are liable.
C- Sarah's sole proprietorship is liable.
This question is kinda tricky and I don't know which one is tech correct.
Answers
Based on the provided information, Sarah liable, her sole proprietorship liable are reliable.
According to the question, we were told about how Sarah grows rosebushes that she decided to sell online. As a result of this we can see that the sole proprietorship liable are reliable.
Therefore, option B is correct because both are reliable.
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Derek is a high school student who is currently taking a course in personal
finance. He knows that he should be managing his money from his part-time job
better. He has learned about saving and budgeting, but he continues to spend all
of his money on his car and going out with friends. He knows that someday he'll
have to be more responsible, but right now he thinks he should just enjoy being a
carefree teenager. Why is it important for Derek to manage his money well now
instead of waiting until he's older?
Answers
Answer:
If he starts practicing saving money and budgeting while he is young, it will help him in the future when he is trying to save up for a house or trying to make a budget for how much he wants to spend on his future house. If he spends all of this money as a teenager, he won't have any money saved up for things that he needs.
Tali has recently joined a sports center as a service assistant. She's asked to set up a phone conference with several people she hasn't met yet. How should Tali begin the meeting to show that she understands professional conduct? O A. She should start off with a joke or a funny story. OB. She should talk about the most recent activities of the sports center. OC. She should introduce herself and explain the purpose of her call. OD. She should ask each person on the call to do a self-introduction.
Answers
Answer:
C -- She should introduce herself and explain the purpose of her call.
Explanation:
It is most professional to introduce herself this way. Also, Tali wants to show that she understands professional conduct.
Hope this helps! Please let me know if you need more help or think my answer is incorrect. Brainliest would be MUCH appreciated. Have a wonderful day!
Agan Interior Design provides home and office decorating assistance to its customers. In normal operation, an average of 2.9 customers arrive each hour. One design consultant is available to answer customer questions and make product recommendations. The consultant averages 10 minutes with each customer.
A. Compute the operating characteristics of the customer waiting line, assuming Poisson arrivals and exponential service times. If required, round your answers to four decimal places.
Lq =
L =
Wq = hours
W = hours
Pw =
B. Service goals dictate that an arriving customer should not wait for service more than an average of 6 minutes. Is this goal being met? If not, what action do you recommend? Yes or No
C. If the consultant can reduce the average time spent per customer to 8 minutes, what is the mean service rate? If required, round your answer to one decimal place.
------ customer per hour
Will the service goal be met? Yes or No
Answers
A. Operating characteristics:
Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833
B. Service goal: Not met. Action recommended.
C. Mean service rate: 7.5 customers/hour.
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).
A. To compute the operating characteristics of the customer waiting line:
Arrival rate (λ) = 2.9 customers/hour
Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour
Average number of customers in the queue (Lq):
Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017
Average number of customers in the system (L):
L = λ / (μ - λ) ≈ 0.9377
Average waiting time in the queue (Wq):
Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)
Average waiting time in the system (W):
W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)
Probability of a customer waiting in the queue (Pw):
Pw = λ / μ ≈ 0.4833
B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.
Action recommendation: To meet the service goal, I would recommend taking the following actions:
Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.
Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.
Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.
Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.
C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:
Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour
Will the service goal be met? Yes
If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.
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Describe how SaksFirst builds loyalty for SaksFifth Avenue
Answers
SaksFirst builds loyalty for SaksFifth Avenue because there was a provision that All Saks cardholders will earn points toward a SaksFirst Gift Card when make first purchase.
What is loyalty in business?Loyalty can be described as the act of allegiance which is the process of been faithful to the brand or to the customer and this do help the relationship that can be set up between the customers of the firm and the firm.
It should be noted that the case above was able to build their loyalty by been able to give points to at first purchase that is been made.
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