Concord Company started operations on January 1, 2015, and has used the FIFO method of inventory valuation since its inception. In 2021, it decides to switch to the average-cost method. You are provided with the following information. Net Income Retained Earnings (Ending Balance) Under FIFO Under Average-Cost Under FIFO 2015 $98,000 $88,100 $102,500 2016 68,100 63,600 161,100 2017 90,900 81,500 234,200 2018 108,100 118,200 336,600 2019 324,300 313,800 595,400 2020 303,200 308,200 742,200 (a) What is the beginning retained earnings balance at January 1, 2017, if Concord prepares comparative financial statements starting in 2017
Answers
According to the information provided, the ending retained earnings balance under FIFO for 2020 is $742,200. However, we do not have the ending retained earnings balance under average-cost for 2020. Therefore, we cannot determine the effect of the change in inventory valuation method on retained earnings (ending balance) for 2021.
To determine the beginning retained earnings balance at January 1, 2017, we need to know the ending retained earnings balance for the previous year, which is 2016.
According to the information provided, the ending retained earnings balance under FIFO for 2016 is $161,100. Therefore, the beginning retained earnings balance at January 1, 2017, is the same as the ending retained earnings balance for 2016, which is $161,100.
(b) What is the effect of the change in inventory valuation method on net income for 2021?
To determine the effect of the change in inventory valuation method on net income for 2021, we need to compare the net income under FIFO and the net income under average-cost for 2021.
Unfortunately, the information provided does not include the net income for 2021. Therefore, we cannot determine the effect of the change in inventory valuation method on net income for 2021.
(c) What is the effect of the change in inventory valuation method on retained earnings (ending balance) for 2021?
To determine the effect of the change in inventory valuation method on retained earnings (ending balance) for 2021, we need to compare the ending retained earnings balance under FIFO and the ending retained earnings balance under average-cost for 2021.
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Related Questions
Regardless of whether the traditional view of the total cost of quality or the zero defects view of the total cost of quality is taken, which of the following is correct?
a. As the defect level increases, the prevention cost increases.
b. As the defect level increases, the appraisal cost increases.
c. As the defect level decreases, the failure costs increase.
d. As the defect level increases, the failure costs increase.
Answers
d. As the defect level increases, the failure costs increase. According to the conventional understanding of the total cost of quality, which takes into account prevention, appraisal, and failure costs,
the cost of failure rises as the defect level does since more rework, scrap, warranty claims, and unhappy customers cost more money. The focus is on eliminating defects entirely through prevention in the zero defects view of the total cost of quality, and as the defect level rises, so does the cost of failure. Contrarily, prevention costs and evaluation costs are sometimes seen as fixed expenses that are unaffected by the severity of problems. Costs associated with preventing defects through quality planning, process design, and training are known as prevention costs, whereas expenses associated with analyzing and monitoring goods and processes are known as appraisal costs.
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shaun recommends that the organization do everything it can to lower the organizational costs required to produce widgets while still charging customers the same price for the product. shaun is recommending the strategy. cost cutting cost leadership differentiation niche
Answers
Shaun advises the company to take every possible measure to reduce its overhead expenditures. The cost leadership approach is what Shaun advises.
Having the lowest operating costs in your sector gives you a competitive edge. This is called cost leadership. Efficiency of the business, its size, scope, and experience are frequently what determines cost leadership (learning curve). A cost leadership strategy seeks to take expenditures advantage of economies of scale, clearly defined scope, and other economies (such as a good purchasing technique), creating highly standardized goods using cutting-edge technology.
More and more businesses in recent years have opted for a strategic blend to win market leadership. These trends include expenditures concurrent cost leadership, top-notch customer service, and product leadership. Due to its cost leadership strategy, Walmart has been successful all over the world.
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easy career class question.
Answers
Answer business
hope this helps
Need help with this one.
Anton's gross monthly pay is $1,058.00. If his employer withholds 11% for the monthly federal income tax, how much will be deducted from his paycheck?
Group of answer choices
$941.62
$11.00
$116.38
$11.64
Answers
Anton's gross monthly pay is $1,058.00. If his employer withholds 11% for the monthly federal income tax, $116.38 will be deducted from his paycheck.
Define tax?A tax is a mandatory payment or charge levied on individuals or businesses by local, state, and national governments to cover the costs of general government services, goods, and activities.It is derived from the Latin taxare, which means 'to assess'. Previously, English used the related word 'task,' which was derived from Old French.For a time, the terms 'task' and 'tax' were interchangeable, with the first requiring labor and the latter requiring money.The term 'tax' then came to mean something tedious or difficult.Governments levy fees on citizens and businesses to generate revenue, which is then used to meet budgetary demands.This includes financing government and public projects as well as improving the country's business environment to promote economic growth.To learn more about tax refer to:
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describe a real or made up example of a contract that includes consideration
Answers
Answer:
It is important that all contracts include consideration in order for any agreement to be legally binding.
The example of a contract of this type is:
Renting a place to use for your sales business. You rent the place for a certain period of time (Let's say one year) and for a settled amount of money. In form of a lease, is stated and stipulated what that amount of money includes (let's say just the place) and what it doesn't include (energy and water bill) as well as the rules for using and living in the place.
This contract applies for both parts once consideration is provided by accepting the terms of conditions and the value agreed.
Explanation:
But this is not my answer I have to give credit to Brainly user keylacordoba.
if you were to look at the cpi calculations based from 1984-1986, what of the following goods would likely be left out of that cpi calculation?
Answers
Based on the question, if we were to look at the Consumer Price Index (CPI) calculations specifically from 1984-1986, there are several goods that might be left out of that CPI calculation. The CPI is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
During the specified time period, it is important to consider that the CPI calculation may not include certain goods for various reasons. Here are a few possible examples:
1. New products: If new goods were introduced during that time period, they might not have been included in the CPI calculation yet. The CPI calculation typically includes a fixed basket of goods and services, and new items may take time to be included.
2. Discontinued products: Similarly, if certain goods were discontinued or became less popular during that time, they might have been excluded from the CPI calculation. This could happen if a specific product was no longer widely available or relevant to the average urban consumer.
3. Changes in consumption patterns: The CPI calculation aims to reflect the purchasing habits of urban consumers. If there were significant changes in consumption patterns during 1984-1986, some goods that were no longer commonly purchased might have been left out of the CPI calculation.
4. Geographical variations: The CPI calculation focuses on urban consumers as a whole, but it may not take into account regional or local variations. If there were specific goods that were more prevalent in certain regions but not in the urban areas as a whole, they might not be included in the CPI calculation.
It's important to note that the specific goods left out of the CPI calculation from 1984-1986 would depend on the specific circumstances and factors during that time period. These examples highlight some general possibilities, but the actual goods excluded can vary.
Overall, the CPI calculation aims to capture the average change in prices of goods and services over time, but it may not include every single item or account for all individual circumstances.
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Pls help!
The equilibrium price for this market is
(point)
O$20
O $40
O $30
O $10
Answers
Oh the answer is 40$ You got this! :)
What are the two factors used to calculate productivity?
A. Goods produced and number of customers
B. Resources invested and goods lost
C. Goods produced and employees hired
D. Goods produced and resources invested
Answers
Goods produced and resources invested re the two factors used to calculate productivity.
How productivity is measured?Productivity is measured from different factors in the organization like the profit generate from the sales, number of customer increases, the amount of money invested in the company, the goods that are consumed of sell within span of time and others.
Thus, option D is correct.
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Answer:
Goods produced and resources invested
Explanation:
Which industry is the second-largest employer of teens
and young people?
What percentage of employed teens are employed by
the government?
I got it
is retail trade
and 7%
Answers
Answer:
I. Retail industry
ii. 7%
Explanation:
Retail industry is the second largest employers of teen and young people next to health sector which is the largest employer.
Retailing involves buying goods either from the producers or wholesaler and selling them to the final consumers. Some services are also offered in these retailing such as call center representative, those who work in innovation lab. etc
In the United States, about 7% of teens and young people are in the employment of government , while retail industry is the largest employer of teen and young people because it provides flexibility and also do not involve much academic qualifications.
Example of these retail jobs are those who work in call center, sales representatives and those who works in stores.
Answer:
Retail Trade
7%
Explanation:
Edge 2020
Vinnie (our friend in the video) had a lot of credit cards, and he did have fun with them! Then he nearly went broke. What was the main thing Vinnie did wrong?
A. he paid off his balance every month in full.
B. he always recorded his payments.
C. he used one credit card to pay other credit card bills.
D. he always paid on time.
Answers
This is because he never really paid his bills but instead delayed
He used one credit card to pay other credit card bills. Thus, option 'C' is the correct option.
What is a credit card?A credit card is a type of payment card that is given to customers (cardholders) to allow them to pay a merchant for products and services depending on the amount of debt they have accumulated (i.e., promise to the card issuer to pay them for the amounts plus the other agreed charges).
The card issuer (often a bank or credit union) establishes a revolving account and provides the cardholder with a line of credit from which they can borrow money to pay for purchases or receive a cash advance. Consumer credit cards and corporate credit cards are the two types of credit cards. The majority of cards are made of plastic. However, some are made of metal (stainless steel, gold, palladium, titanium), while some include gemstones embedded in the metal.
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How does APR make borrowing money a more transparent process?
Answers
The interest rate on a credit card is known as the APR. It is the annual percentage rate of interest that you will be charged if you carry a balance, and it frequently changes from card to card.
What is APR stand for?The Accreditation in Public Relations (APR) accreditation distinguishes you from your colleagues and positions you as a leader and mentor in the cutthroat public relations industry by vouching for your ambition, professionalism, and ethical standards.
Is the accuracy of loan comparisons improved by APR?The cost of borrowing money is determined by the interest rate, but because the APR also accounts for additional fees related to getting a loan, notably a mortgage, it provides a more accurate picture of overall borrowing costs.
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Which of the following are true regarding cost-duration graphs?
Any alternative that moves the project duration away from the optimum cost-duration point will increase costs.unanswered
Incentives and penalties can be evaluated against the total, low cost point.
Incentives and penalties can be evaluated against the direct costs without regard to the indirect costs.unanswered
Any alternative that moves the project duration away from the optimum cost-duration point will increase time of completion.
Answers
The true statement regarding cost-duration graphs is: Any alternative that moves the project duration away from the optimum cost-duration point will increase the time of completion. Option d 4 is correct.
In cost-duration graphs, the optimum point represents the most efficient balance between project duration and cost. Moving away from this optimum point by increasing the project duration will result in an increase in the time required to complete the project. This implies that the project will take longer to finish if the duration is extended beyond the optimal point.
The other statements mentioned, regarding evaluating incentives and penalties against the total or direct costs, are not specifically related to cost-duration graphs and may require additional context to determine their accuracy.
Option d 4 is correct.
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Why is the Adams onís treaty important to the United States?
Answers
Signed in 1819 by John Quincy Adams and Luis de Onís, the Adams-Onís Treaty between the United States and Spain gave Florida to the U.S. and established the Sabine River as the border between the U.S. and New Spain. The formation of Texas was part of a global story.
Define Treaty?A formal, written treaty is a binding agreement between parties to international law. It is often created by and between sovereign governments, however it may also involve people, businesses, and other legal entities from other countries.Written agreements between sovereign nations (or between states and international organisations) that are controlled by international law are known as treaties and other international accords. Each year, the US signs more than 200 international treaties and other accords.Treaties are legally binding agreements that are incorporated into international law. As part of what the Constitution refers to as "the highest Law of the Land," treaties to which the United States is a party also have the effect of federal law.To learn more about treaty refer to:
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The sum of two number is 7 and their difference 1 need answer so hurry
Answers
Answer:
3 & 4
Explanation:
Let the two number be 'a' and ' b'.
a + b = 7
a - b = 1
Adding the two equations
2a = 6
a = 6/2
a = 3
Substituting 'a' in any equation
a + b = 7
3 + b = 7
b = 7-3
b =4
The two numbers are 3 and 4
Dvds are an example of a product in the _______ stage. the demand for dvds has now been surpassed by the demand for blu-ray discs and online streaming of content. this stage is governed by the change in consumer tastes and the rate at which new products enter the market.
Answers
Dvds are an example of a product in the decline stage in which the demand for dvds has now been surpassed by the demand for blu-ray discs and online streaming of content.
What is a product life cycle?A product's life cycle refers to the process a product goes through right from its introduction to the market, until it declines or people stop buying it.
It is to be noted that no matter how amazing a product is, it must follow the product life cycle.
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What is a negative effect of free trade agreements?
Answers
Answer: in particular deplorable working conditions, job loss, economic damage to some countries, and environmental damage globally.
Explanation:
in particular deplorable working conditions, job loss, economic damage to some countries, and environmental damage globally.
Find an article dealing with an opinion poll on a local, state ,or national issue. Write a paragraph summary of when and how the poll was conducted, and what the results indicated.
Answers
According to a CNN poll conducted in early February 2021, 69% of Americans approve of President Joe Biden's handling of the COVID-19 pandemic. The poll was conducted by SSRS, a research firm that specializes in survey research. The poll surveyed 1,004 adults across the United States and had a margin of error of plus or minus 3.7 percentage points. The poll also found that 60% of Americans believe that the worst of the pandemic is yet to come, despite the country's recent progress in vaccine distribution. Additionally, 93% of respondents said they have worn a mask in public in the past week, a sharp increase from similar polls conducted last year. The poll's results indicate that the majority of Americans are supportive of the current administration's efforts to combat the ongoing pandemic
You work for REV, Incorporated and check your work email on your mobile phone. According to these documents, if you cannot find your phone, what should you do first?
A.Contact the Data Management Crisis Unit.
B.Report the loss to Property Management.
C.Activate the RDM service.
D.Email your supervisor about the data breach.
E.Call the IT Services help desk.
HELP!!!!!!
Answers
According to these documents, if one cannot find the phone, one should you do first Activate the RDM service.
What should you do first?According to the information given, the first thing you should do if you cannot locate your phone is to activate the RDM service. Remote device management, or RDM, is a service that enables you to find and lock your phone remotely, as well as, if necessary, wipe its data. If your phone gets into the wrong hands, this security measure can aid in securing sensitive data. Depending on the circumstance, you may need to follow up by emailing your supervisor about the data breach, contacting the Data Management Crisis Unit, and reporting the loss to Property Management. Making a call to the IT Services help desk could be beneficial for assistance.
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Adding the given level of gross investment to consumption increases ________ by the level of ________.
Answers
Adding the given level of government purchases to consumption and gross investment increases aggregate expenditures by the level of government purchases.
What happens to the consumption function when MPC increases?A change in the level of marginal propensity to consume will alter the slope of the consumption function.
Hence, Adding the given level of government purchases to consumption and gross investment increases aggregate expenditures by the level of government purchases.
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See full question below
adding the given level of government purchases to consumption and gross investment increases ___ expenditures by the level of government purchases
A share of ownership in a company is known as which of the following?
А.Stock
B.Investment
с.Rebate
D.Bond
Answers
Answer:
Stock
Explanation:
The worth of a company is subdivided into small units known as shares. Each unit of a share represents the ownership of the company. The owners of the shares are described shareholders, and they are the owners of the company.
The term share is, at times, substituted with stock or equity. In ownership of a company, stock, shares, and equity will refer to the same things. Shareholders are also then referred to as stockholders.
(cost of common equity) falon corporation is issuing new common stock at a market price of $. dividends last year were $ and are expected to grow at an annual rate of percent forever. what is falon's cost of common equity capital?
Answers
According to the question, the falon's cost of common equity capital is 12.86%. It is one of the main ways that companies get the money they need to finance their operations and overall growth.
What do you mean by the equity capital?Equity capital is the money that a business raises from its owners and other shareholders in exchange for a stake in the business. The money raised through equity financing is not subject to repayment by the corporation.
Private equity capital and public equity capital are two of the most typical ways to raise equity funds. Both involve the public and private issuance of shares.
Given,
Growth rate = 7.4%
Stock price = $ 27.32
Last year dividend = $ 1.39
Here,
Cost of Equity = Next year dividend / Stock price + Growth rate
Cost of Equity = 1.39 × (1+0.074) / 27.32 + 7.4%
Cost of Equity = 1.49286 / 27.32 + 7.4%
Cost of Equity = 5.46 % + 7.40%
Cost of Equity = 12.86%
Therefore, according to the question, the falon's cost of common equity capital is 12.86%. It is one of the main ways that companies get the money they need to finance their operations and overall growth.
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Question # 1
Long Text (essay)
Submit your work for Part A, a crime study, and for Part B, creating a law and codifying a crime.
Answers
C r i m e is a complex social phenomenon that requires a multidisciplinary approach to understand and address. Creating laws and co di f ying c r i m e s is an essential component of the criminal justice system and can help address societal problems such as C y b e r b u l l y i n g.
What informs the c r ime study?Part A: Crime Study:
Understanding crime and its causes is critical in developing effective crime prevention strategies and maintaining social order. The study of crime also involves understanding the criminal justice system, which is responsible for maintaining law and order and punishing offenders. Law enforcement agencies are responsible for investigating crimes, arresting offenders, and bringing them to trial. The courts are responsible to determine guilt and administer punishment. The correctional institutions are responsible of rehabilitating offenders.
In conclusion, crime is a complex social phenomenon that requires a multidisciplinary approach to understand and address. Understanding the causes of crime and the criminal justice system is critical in developing effective crime prevention strategies. Creating laws and codifying crimes is an essential component of the criminal justice system and can help address societal problems such as c y b e r b u l l y i n g.
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Should citizens participating in
criminal trials should have some requirements such as someone who
has a degree? Or someone who makes at least $20,000 per year? Why
or why not?
Answers
Citizens participating in criminal trials should not be required to have a degree or make a certain amount of money per year. This is because such requirements would create inequalities in the justice system and violate the principle of equal protection under the law that is enshrined in the US Constitution.
First, requiring citizens to have a degree in order to participate in criminal trials would discriminate against those who cannot afford higher education. This would create an unfair advantage for those who are more affluent and better-educated, and it would prevent many people from serving on juries or as witnesses.
Secondly, requiring citizens to make a certain amount of money per year would also create inequalities. Poorer citizens would be excluded from participating in criminal trials, which would violate their rights to equal protection under the law. Moreover, wealth is not necessarily a measure of a person's ability to serve as a juror or a witness. A person's income level does not necessarily correlate with their intelligence, education, or integrity
.In conclusion,citizens should not be required to have a degree or make a certain amount of money per year in order to participate in criminal trials. Doing so would violate the principle of equal protection under the law, create inequalities, and prevent many people from participating in the justice system.
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Alexia, who is 35 years oid, fakes out individual disability invurance, She has a return of premium nider odded. The riser ststes that, whien her belicy expires at age 65 , the insurer will refund her 75% of all the premiums she has paid lens any disability benefits she received, The total annual peeriuam for this policy is $2,000. Over the years, Alexia receives $12,000 in benefits for varions ahort periods of disability. At age s5, she deciains vo cancel tier polity since her work situation has changed significantly. How much will Alexia receive under her return of premlum rider? $30,000 $21,000. $18,000 Nothing, nince she cancelled her policy before the matirity date and has received benefits under it.
Answers
Alexia, who is 35 years old, had a disability insurance policy with a return of premium rider.
The rider states that when her policy expires at age 65, the insurer will refund her 75% of all the premiums she has paid, minus any disability benefits received. The total annual premium for the policy is $2,000. Alexia received $12,000 in disability benefits over the years. At age 55, she decides to cancel her policy due to changes in her work situation. Since she cancelled her policy before the maturity date and received benefits under it, she will not receive any refund under the return of premium rider. Therefore, Alexia will receive nothing from the return of premium rider.
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C&M Machining is developing plans for a dedicated production line and needs to determine how many drill presses will be needed Engineering estimates are that one drill press will be able to process 80 parts per hour Daily demand is 2,400 parts. C&M operates one 8-hour shift per day How many drill presses are needed to meet the capacity requirements? 4 drill presses 30 drill presses 3 drill presses
300 drill presses 40 drill presses
Answers
4 drill presses are needed to meet the capacity requirements.
To determine the number of drill presses needed to meet the capacity requirements, we can calculate the total number of parts that can be processed in one 8-hour shift by one drill press:
Parts processed per hour per drill press = 80 parts/hour
Total parts processed in one 8-hour shift per drill press = 80 parts/hour * 8 hours = 640 parts
Since the daily demand is 2,400 parts, we divide the daily demand by the number of parts processed by one drill press in a shift:
Number of drill presses needed = Daily demand / Total parts processed in one shift per drill press
Number of drill presses needed = 2,400 parts / 640 parts = 3.75
Since we can't have a fraction of a drill press, we need to round up to the nearest whole number. Therefore, 4 drill presses are needed to meet the capacity requirements.
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Which of the following statements would be considered pros of globalization?
Increased competition between countries
Increased immigration of unskilled workers
Increased public funding for education and immigration of those citizens with education
Increased consumption of wide variety of goods leading to increased production
Answers
Answer:
increased consumption of wide variety of goods leading to increased production.
Explanation:
im sorry if i get it wrong
which of the following is a choice companies typically consider in the decline stage of the product life cycle?a.maintain there product in hopes other would quit the marketb.invest heavily to improve their productc.reposition their pland.promote their prodact aggressevelye.modify their prodact
Answers
In the decline stage of the product life cycle, companies typically consider repositioning their brand and modifying their product.
The decline stage of the product life cycle is characterized by a decrease in sales and market demand for a product. During this stage, companies often face the decision of how to manage their declining product. Among the options provided, repositioning their brand and modifying their product are the choices that companies typically consider in this stage.
Repositioning their brand involves changing the perception of the product in the market by targeting different customer segments or emphasizing different features or benefits. This strategy aims to revitalize interest in the product and attract new customers who may have different needs or preferences.Modifying the product entails making changes to the design, features, or functionality to address any shortcomings or adapt to changing market conditions.
The other options listed, such as maintaining the product in hopes others would quit the market, investing heavily to improve the product, or promoting the product aggressively, may not be as commonly pursued in the decline stage. These choices are more relevant in earlier stages of the product life cycle, such as growth or maturity, when the product is experiencing higher demand and competition.
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Job satisfaction can be lost for all of the following reasons EXCEPT:
a.
Lack of opportunities for promotion
b.
Bickering with co-workers
c.
Being recognized for a job well done
d.
Having little or no say in decisions that affect you
Answers
Answer:
Being recognized for a job well done
Explanation:
Use the following information to calculate Diana's liabilities:
Savings account: $2,500.00
Checking account: $400.00
Car value: $5,000.00
Personal property value: $5,500.00
Loan for vacation: $2,000.00
Loan from grandparents: $250.00
Answers
Answer:
=$2,250
Explanation:
Liabilities are what we owe to others. They include debts, loans, mortgages that we have borrowed from friends, banks, or other lenders.
From the list provided, Diana's liabilities are
1.Loan for vacation: $2,000.00
2.Loan from grandparents: $250.00
Total liabilities= $2000+ $250 = $2,250
A 3rd degree burn has burnt only part of the epidermis. the epidermis only. the epidermis and dermis. the epidermis and part of the dermis.
Answers
A 3rd degree burn has burnt the epidermis and part of the dermis. Option 3 is the correct answer.
A 3rd degree burn is a severe burn that extends through the entire thickness of the skin. In a 3rd degree burn, the epidermis, which is the outermost layer of the skin, and part of the dermis, which is the layer beneath the epidermis, are affected. This type of burn destroys the full thickness of the epidermis and can extend into the deeper layers of the dermis.
The epidermis serves as a protective barrier for the body, preventing the entry of harmful substances and pathogens. It also helps regulate body temperature and plays a role in the production of vitamin D. The dermis provides structural support, contains blood vessels, nerve endings, sweat glands, and hair follicles.
Due to the severity of the injury, 3rd degree burns often require medical intervention and specialized treatment. They can result in extensive tissue damage, loss of sensation, and impaired healing. Treatment may involve surgical interventions, such as skin grafting, to promote healing and minimize the risk of infection. Rehabilitation and long-term care are often necessary to manage the physical and psychological effects of a 3rd degree burn.
Hence, option 3 is the right choice.
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