For each of the following independent situations, prepare journal entries to record the initial transaction on December 31 and the adjustment required on January 31.

a. Magnificent Magazines received $17,400 on December 31, 2015, for subscription services related to magazines that will be published and distributed in January through December 2016.
b. Walker Window Washing paid $1,740 cash for supplies on December 31, 2015. As of January 31, 2016, $290 of these supplies had been used up.
c. Indoor Raceway received $4,350 on December 31, 2015, from race participants for providing services for three races. One race is held in January 31, 2016, and the other two will be held in March 2016.

Answer:

The correct answer is the option B: False.

Explanation:

To begin with, the price discrimination strategy refers to a technique used by the companies in order to charge different prices to the different consumers regarding the fact of how much would they be able to pay for the product. When it comes to monopolies, a perfect price discrimination strategy would try as best as possible to capture the majority of the zone known as the "consumer surplus". And that is why that a company with a perfect price discrimination would face a small deadweight loss area due to the fact that with that strategy of price the monopolist will absorve as much as possible of that area becuase the triangle is half consumer surplus and half producer surplus.

Answer:

Verbal/linguistic learners prefer learning activities that involve reading, writing, and speaking.

Explanation:

It is not possible to determine the Fergusons' federal income taxes payable or refund, including any self-employment tax and AMT .

Without additional information such as their filing status, deductions, and credits.

Income:

Sandy's salary: $152,000

John's salary: $29,000

Revenue from Sandy's web design work: $4,000

Deductions:

State income taxes: $4,400

Real property taxes: $12,200

Mortgage interest: $14,000

Home equity loan interest: $3,000

Charitable contributions: $15,000

Employee business expenses: $600 (reimbursed by employer)

Alimony payments: $10,000

Child support payments: $4,100

Daycare expenses for Samantha: $3,600

Other:

Qualified dividends: $800

State income tax refund: $200

AMT exemption: See Exhibit 8-10

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Answer:

                 Journal entries for October 2019

Date    Accounts Titles and Explanation    Debit      Credit

Oct 1    Rent expense                                      $3,600

              Cash                                                               $3,600

            (To record entry for payment of rent for month)

Oct 3    Advertising expenses                        $1,200

                 Cash                                                              $1,200

            (To record entry for Advertising expenses)  

Oct 5     Supplies                                                $750

                    Cash                                                             $1750  

            (To record entry for purchase of supplies)  

Oct 6     Office equipment                                  $8,000

                     Accounts Payable                                        $8,000

             (To record purchase of office equipment on account)

Oct 10     Cash                                                      $14,800

                    Accounts Receivable                                     $14,800

              (To record cash received from customers on account)

Oct 15    Accounts payable                                    $7,110

                    Cash                                                                 $7,110

             (To record payment made to creditors)

Oct 27   Miscellaneous expenses                         $400

                   Cash                                                                 $400

          (To record repair expense of office equipment)

Oct 30    Telephone expense                                $250

                    Cash                                                                $250

            (To record payment made for telephone bill)

Oct 31      Accounts receivables                              $33,100

                      Service fees                                                    $33,100

             (To record fees earned)

Oct 31     Utility expense                                          $1,050

                    Cash                                                                  $1,050  

            (To record payment made for electricity bill)

Oct 31     Personal use                                             $2,500

                    Cash                                                                   $2,500

              (To record payment of dividend)

The Journal Entries are mentioned below.

A journal entry is the first step—and an essential function—of the accounting process. They are the record of monetary transaction of a business.

                Journal  Entries in the books of Concrete Consulting Co.

                                             for October 2019

Date    Accounts Titles and Explanation                           Debit      Credit

Oct 1    Rent expense  A/c                       Dr.                       $3,600

                           To Cash A/c                                                             $3,600

         (Being rent paid)

Oct 3    Advertising expenses A/c         Dr                          $1,200

                     To Cash A/c                                                                     $1,200

          (Being Advertising expenses paid)  

Oct 5     Supplies A/c                               Dr                            $750

                   To Cash A/c                                                                        $750  

          (Being payment for purchase of supplies)  

Oct 6     Office equipment A/c                 Dr                       $8,000

                    To Accounts Payable A/c                                             $8,000

            (Being office equipment purchased)

Oct 10     Cash A/c                                      Dr                    $14,800

                        To  Accounts Receivable A/c                                  $14,800

             (Being cash received from customers)

Oct 15    Accounts payable A/c                  Dr                    $7,110

                         To Cash A/c                                                                $7,110

            (Being payment made to creditors)

Oct 27   Miscellaneous expenses A/c        Dr                   $400

                          To Cash A/c                                                               $400

         (Being expense made for repair of office equipment)

Oct 30    Telephone expense   A/c             Dr                    $250

                          To Cash A/c                                                               $250

           (Being payment made for telephone bill)

Oct 31      Accounts receivables A/c          Dr                  $33,100

                          To Service fees A/c                                                 $33,100

            (Being fees earned)

Oct 31     Utility expense A/c                     Dr                    $1,050

                           To Cash A/c                                                             $1,050  

           (Being electricity bill paid)

Oct 31     Personal use A/c                        Dr                     $2,500

                           To Cash A/c                                                           $2,500

             (Being cash withdrawn for personal use)

Therefore the above Journal  Entries captures all the transactions.

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Based on the options provided, Kirk and his family should save $200 per month for 3 years to cover the cost of his first year in the local community college's automotive program. This saving plan will give them more than the cost of the program, providing a cushion for any additional expenses.

The local community college's automotive program costs $6,845 per year. If Kirk and his family wanted to save enough for one year of this program, they would have to budget and plan out their savings. To calculate this, they would divide the total cost by the number of months in their saving period.

Therefore, the most reasonable saving goal for Kirk and his family, based on these options, would be to save $200 per month for 3 years. They would have more than enough to cover the program cost and any additional expenses that might occur.

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Answer:

Physiotherapy Technician is a 10th standard medical nursing course. Physiotherapists provide treatment, preventive advice and care while rehabilitating those with physical and psychological impairment to maximize functional abilities for health lifestyle.

The diploma course is known as Diploma in Medical Laboratory Technology, abbreviated as DMLT. To take admission to DMLT/BMLT course in India, a candidate must qualify Class 12 from a recognised board or institute. The duration of DMLT is two years, whereas, that for BMLT course is 3 years and 6 months.

Marketing and Salesmanship is a very important discipline of knowledge. Because of this process, a lot of changes have occurred in marketing practices. Both Marketing and Salesmanship require the knowledge of various advanced techniques of advertising, business correspondence , business law, sales management etc .

Since the income elasticity of demand is less than 1, the good is considered a normal good.

The formula below must be used to determine the income elasticity of demand:

Demand Elasticity as a Function of Income = % Change in Demanded Quantity / % Change in Income

The initial revenue in this instance is Br. 10,000, and the ultimate income is Br. 20,000. Hence, the revenue change as a percentage is as follows:

Income Change as a Percentage = [(20,000 - 10,000) / 10,000]. x 100% = 100%

50 units were initially requested, and 60 units were ultimately requested. The quantity requested has changed by % as follows:

20 percent is the result of multiplying [(60 - 50) / 50] by 100 percent.

As a result, the demand elasticity of income is:

Income Elasticity of Demand = 20% / 100% = 0.2

This means that as income increases, the demand for the good also increases, but at a slower rate than the increase in income. In other words, the good has a relatively low income elasticity of demand.

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Answer:

Let x be a random variable representing the price of a Congo-imported black diamond. Let the higher price be p. Then,

P(x < p) = P(x < (p - mean)/sd) = P(x < (p - 60,430)/21,958.08) = P(z < 2)

Therefore,

(p - 60,430)/21,958.08 = 2

p - 60,430 = 2 x 21,958.08 = 43,916.16

p = 34,916.16 + 60,430 = 104.346.16

Therefore, The required price is $104,346.16

Explanation:

Answer:

A) stimulates;rightward

Explanation:

If prices rises in Germany, it means that Germany is going through an inflationary period. This will make German goods more expensive, and less attractive in international markets.

American goods will then become more attractive, because they are now cheaper compared to German goods. This will stimulate American exports to Germany.

A higher level of exports will shift the AD curve to the right, because net exports is one of the four components of Aggregate Demand, and a shift rightward of the AD curve occurs when Aggregate Demand expands due to any factor other than price level.

A promissory note can best be described as: a. an interest-bearing IOU.

Promissory note can be defined as a written note that help to shows that a person who lend a money from another person  promise to payback. The note contains  a promise by the borrower to pay back the lender within a stipulated period of time.

A promissory note can tend to be described as IOU which full meaning is I OWE YOU which implies that a borrower is telling the lender that he/she owe the lender some certain amount of money which  the borrower will have to payback.

A promissory note also contains the terms and conditions of the agreement  and this terms and agreement includes the following :

Therefore we can conclude that the correct option is A.

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Answer:

There are four main types of communication: verbal, nonverbal, written, and visual.

1. Verbal communication involves the use of words to convey a message. This can be done through spoken or written language. Verbal communication can be formal or informal, and it is often used in face-to-face conversations, meetings, presentations, and interviews. A practical example of verbal communication is a teacher giving a lecture to a classroom full of students.

2. Nonverbal communication involves the use of body language, facial expressions, and other nonverbal cues to convey a message. This can include gestures, eye contact, posture, and tone of voice. Nonverbal communication is often used in conjunction with verbal communication to reinforce a message or convey meaning. A practical example of nonverbal communication is a job interview, where the interviewer may use body language to convey their interest or disinterest in a candidate.

3. Written communication involves the use of written words to convey a message. This can include emails, memos, reports, and letters. Written communication is often used in business and academic settings, where a permanent record of the communication is required. A practical example of written communication is a business proposal that is sent to a potential client.

4. Visual communication involves the use of images, graphics, and other visual aids to convey a message. This can include charts, diagrams, videos, and photographs. Visual communication is often used in advertising, marketing, and design, where visual impact is important. A practical example of visual communication is a billboard that advertises a new product.

In summary, each type of communication has its own strengths and weaknesses, and they are all important in different contexts. Effective communication requires a combination of these four types, depending on the situation and the message that needs to be conveyed.

Procurement is the way companies purchased goods for their business use.

Procurement can be defined as the way in which a firm or a company tend to obtain goods  which they are going to make use of for their business or  to purchase  goods to use for their day to day business operation.

One of the advantage of procurement is that it enables companies to smoothly carryout their business operation as the items they need for their business operation has been made procured or made available.

Therefore we can conclude that procuring office items  for business purpose are essential.

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Answer:

Focus Groups and Surveys

Explanation:

Lindenwood will most likely conduct focus groups and surveys to improve the University, the questions asked should be qualitative so that you have more understanding on what to do and not quantitative as although it is more likely people will answer, it is more vague

Answer:

  D: using competitive language when evaluating ideas

Explanation:

Choices seem to be ...

A: using subtle, indirect language in meetings.

B: allowing silence to linger in meetings.

C: expressing respect for others but letting issues go unresolved.

D: using competitive language when evaluating ideas.

E: expressing themselves in controlled, measured ways.

__

"Assertive" meaning "showing a confident or forceful personality", we don't expect subtle, or controlled language; nor do we expect lingering silence or unresolved issues. We expect choice D to be most likely.

Since the P-value is less than the significance level, = 0.05 , we reject the null hypothesis

Decision is reject H0

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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I guess the answer is C. to convince your manager to use a new meeting organization tool

The discount should be taken and the ordering quantity should be 6000 disks.

EOQ = (2*annual demand*ordering cost/carrying cost per unit per year)^.5

If purchase price = $.85

Then,

EOQ = (2*36000*25/(20%*.85))^.5

EOQ = 3253.96 or 3254 disks

Now,

Total annual cost = product cost + annual ordering cost + annual holding cost

Total annual cost cost = 36000*.85 + (36000/3254)*25 + (3254/2)*(20%*.85)

Total annual cost = $31153.17

If a discount price is used and 6000 units are ordered, then:

EOQ = (2*36000*25/(20%*.82))^.5

EOQ = 3313 units approx. it is still less than 6000.

If 6000 units are ordered to get a discount price of $.82, then:

Total annual cost cost = 36000*.82 + (36000/6000)*25 + (6000/2)*(20%*.82)

Total annual cost cost = $30162

Now, it can be observed that the total annual cost is less with 6000 quantity on order than that of total annual cost at EOQ quantity, due to discounted price.

So, a discount should be taken and the ordering quantity should be 6000 disks.

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Answer:

Positioning

Explanation:

In simple words, A positioning gadget system includes a positioning lanyard. The employee is supported by this system on a raised vertical surface, such as a wall or pole. This allows people to work while leaning without having to use their hands. The lanyard ties the individual to a place in ahead of their physique that serves as an anchor point.

The company should invest $800,000 in Project A and $0 in Project B to maximize its return on investment.

The linear programming model is as follows:

Let x1 represent the investment in Project A (in thousands of dollars).

Let x2 represent the investment in Project B (in thousands of dollars).

Objective function:

Maximize Z = 10x1 + 10x2

Subject to:

x1 + x2 ≤ 1000 (Cash available in year one)

x1 ≤ 800 (Cash available in year two)

x1 ≤ 20 (Initial investment for Project A)

x2 ≤ 10 (Initial investment for Project B)

x1 ≥ 0, x2 ≥ 0

Solving the problem graphically:

To solve the problem graphically, we plot the feasible region defined by the constraints.

The feasible region is bounded by the lines:

x1 + x2 = 1000 (Cash available in year one)

x1 = 800 (Cash available in year two)

x1 = 20 (Initial investment for Project A)

x2 = 10 (Initial investment for Project B)

x1 ≥ 0, x2 ≥ 0

After plotting these lines and shading the feasible region, we find that the feasible region is a triangle.

We then evaluate the objective function Z = 10x1 + 10x2 at the vertices of the feasible region:

Vertex A: (0, 0) - Z = 10(0) + 10(0) = 0

Vertex B: (20, 0) - Z = 10(20) + 10(0) = 200

Vertex C: (20, 10) - Z = 10(20) + 10(10) = 300

Vertex D: (800, 0) - Z = 10(800) + 10(0) = 8000

From the above calculations, we can see that the maximum value of Z occurs at vertex D (800, 0). Therefore, the company should invest $800,000 in Project A and $0 in Project B.

By investing proportionally in the projects, the company will maximize its return on investment.

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Answer:

A company's stock

Explanation:

There are two main capital structure i.e. debt and the equity. The debt is the loan which is to be borrowed by the individual or a company in order to raise a capital. While the other one is equity in which it shows the ownership stake in the company also it involves the securities than should be traded in the stock markets

While going through the options given, the second option is correct as other options are the examples of debt and the same is not considered for an equity investment

Answer:B.Theo is featured as one of Oprah Winfrey’s “Favorite Things List” in ”6 New Chocolate Bars We’re Crazy About” on Oprah.com.

D. Theo partners with Ben Affleck’s Eastern Congo Initiative to launch a chocolate bar line, where a part of the proceeds are donated to help Congolese farmers and their families.

Explanation:

The  Chocolate’s managers.

As er the question the manager of the cholate meet to develop the company and devise a strategy. The conduct a SWOT analysis which aims to fund the strength, weaknesses, and opportunities along with the threats of the company. It is quite helpful in the planning process of any company.

Thus answer is a Favorite Things List and they partner with Ben Affleck, Vertical integration and. The threat of new entrants

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Answer:

In view of the units of corn and precious stones delivered by the US, the open-door cost of creating corn is B. 10⁄60.

What is the open-door cost of delivering corn?

The open-door cost of delivering corn to the US would be the number of precious stones that are surrendered to make one unit of corn.

This can be found as:

= Units of jewels/Units of corn

= 10/60 jewels

All in all, choice B is right.

Answer:

B) The United States should specialize in corn and trade for diamonds.

Explanation:

I got it right on the test

Answer:

The term "benchmarking" as it relates to the hotel industry refers to comparing metrics for hotels of similar size or profile.

Explanation:

a) Benchmarking is a process wherein a company's products, services, business processes, or performance metrics are compared with a “best in class” competitor.  The purpose of benchmarking is to enable organizations to make improvements by adapting specific best practices.  A retail shop's metrics can be compared with the leading retail shop in your area.  Given the deep insight gathered from benchmarking, this retail shop can decide to alter its line of products, the way it competes in the marketplace, or to undertake some improvements in her business processes.

There are four types of benchmarking, including internal, competitor, functional, and generic.  Internal benchmarking is limited to internal processes.  Competitor benchmarking compares one company's processes, products, or services to another.  Functional benchmarking compares one function of an entity to another entity's.  While generic benchmarking compares unrelated companies' processes or functions.

To calculate the payback period for each project, we need to determine the time it takes for the initial investment to be recovered through project cash flows.Therefore, both Project A and Project B have a payback period of 2 years.

The initial investment is -$31,000, and the positive cash flows occur at the end of Year 1, Year 2, and Year 3. Since the cash inflows are $17,500, $14,000, and $4,000 respectively, we need to accumulate enough cash flows to recover the initial investment of -$31,000. The payback period can be calculated as follows:Year 1: -$31,000 + $17,500 = -$13,500

Year 2: -$13,500 + $14,000 = $500

Year 3: $500 + $4,000 = $4,500

The payback period for Project A is 2 years since it takes until the end of Year 2 to recover the initial investment.

For Project B:

The initial investment is -$34,000, and the positive cash flows occur at the end of Year 1, Year 2, and Year 3. The cumulative cash flows are as follows:

Year 1: -$34,000 + $18,500 = -$15,500

Year 2: -$15,500 + $12,500 = -$3,000

Year 3: -$3,000 + $14,000 = $11,000

The payback period for Project B is 2 years since it takes until the end of Year 2 to recover the initial investment.

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Answer:

a.rate variance

Explanation:

The labor rate variance arises when the rate is paid for the labor is different as compared with the standard rate

Also the variance could be favorable or unfavorable that based whether it is below the standard rate or higher standard rate as compared with the actual rate

hence, in the given situation, the correct answer is a. rate variance

A real world example of shadow pricing would be in a case where a manufacturer produces two product A and B with 2 input such as raw materials and labor.

Two products (A & B) are produced through the use of two primary resources: labor & raw materials. To produce one unit of product A, we require roughly an hour's worth (60 minutes) of work time from our available pool.

Also, approximately two pounds worth of our current stockpile must be incorporated into each instance as well. Comparatively speaking, producing one unit from group B takes almost three times that much effort (3 hours' time), but only requires about half as much by weight (a single pound).

Our maximum allowance stands at exactly 60 work-hours across all levels plus another hundred pounds maximum in terms concerning these earthly elements - with that established pricing amounts to a flat rate where five dollars buys us one metric pound whereas ten dollars goes towards hourly wages; so what is their shadow price?

When dealing with limited input availability, the optimal allocation of resources and production process optimization can be achieved using shadow prices. In this regard, it has been determined that labor's shadow price stands at $10 per hour while the shadow price for raw materials is set at $5 per pound.

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Price is the element of the marketing mix is affected when the Mandarin Oriental hotel in New York increases its weekend rates to $795 per night.

In actuality, the core goal of marketing is to use messaging to draw customers to your brand. In order to turn customers into leads, your messaging should ideally be instructive and beneficial to your target demographic.

In a nutshell, it is an action made to draw attention to a business's offerings, which may include both tangible products for sale and services provided. Television commercials, billboards at the side of the road, and magazine adverts are typical instances of marketing at work.

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Answer:

Part 1

Variable Costs

Direct material                                                           $5,000,000

Direct labor                                                                $2,400,000

Fixed Costs

                                                                                           $

Utilities (primarily electricity)                                         120,000

Depreciation on plant and equipment                        220,000

Insurance                                                                       150,000

Supervisory salaries                                                     400,000

Property taxes                                                              230,000

Salaries of top management and staff                        372,000

Office supplies                                                               45,000

Depreciation on building and equipment                    80,000

Part 2

Forecast the 20x2 cost amount for each of the cost items listed

Direct material ($5,000,000  x 1.20)                      $6,000,000

Direct labor (2,400,000 x 1.20)                               $2,880,000

Utilities (primarily electricity)                                       $120,000

Depreciation on plant and equipment                     $220,000

Insurance                                                                    $150,000

Supervisory salaries                                                 $400,000

Property taxes                                                           $230,000

Salaries of top management and staff                     $372,000

Office supplies                                                            $45,000

Depreciation on building and equipment                $80,000

Explanation:

Variable Costs vary with the level of production. Examples are Direct Materials and Direct labor.

Fixed Costs remain constant for any production level. Examples are Depreciation and Utilities such as electricity.

A growth in Sales will affect the Variable Costs only. As production increases to meet the 20 percent growth in sales so do these costs since they vary in direct proportion to the level of production.

Answer:

A

Explanation: