From the bank reconciliation, no entry was recorded for deposits in transit. This would cause Assets to be overstated Option C.
Deposits in transit refer to deposits made by a company that have been recorded on the company's books but have not yet been recorded by the bank. These deposits are typically made near the end of a reporting period and may not appear on the bank statement until the following period.
When no entry is recorded for deposits in transit, it means that the company has included these deposits in its books but has not adjusted the bank balance to reflect them.
The bank reconciliation process is used to reconcile the company's cash balance per books with the cash balance per bank statement. It involves comparing the transactions recorded by the company with those recorded by the bank and making adjustments for any differences.
Deposits in transit are one of the items that need to be accounted for in the reconciliation process.
If no entry is recorded for deposits in transit, it means that the company has not adjusted its cash balance per books to include these deposits. As a result, the cash balance per books will be higher than the actual cash balance. This leads to an overstatement of assets because the company is reporting a higher amount of cash than it actually has.
Therefore, the correct answer is C. Assets to be overstated. Failing to record deposits in transit will result in an overstatement of assets on the company's books. It is important for the company to recognize and record these deposits to ensure accurate financial reporting and prevent misrepresentation of its financial position. Option C is correct.
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Dr. Pearl White just graduated from dental school. She is hoping to acquire the necessary funding to start her own dental practice. One advantage of this type of business is
The advantage of the type of business that Dr. Pearl White wants to open after dental school is the service is individualized and not easily mass-produced.
What is the advantage of a dental practice?Dental practices rely on the use of industrial machines to create things like synthetic tooth. Added to that, the service is not easy to mass-produce as the tooth needs to be customized to people.
Both these things are barriers to entry mean that dental practices are not an easy business to get into.
This then reduces the competition for customers to Dr. Pearl White.
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In the follow scenario, describe: the relationship between Eric and Theodore the rights and duties among each party Nolan accepted a new job on the West Coast, necessitating a cross country move. He packed up a moving truck with his household goods one weekend and shipped them via a national truck service, but had to get to a meeting in San Francisco early on Monday morning, so hired Eric to drive his car from Baton Rouge to San Francisco the following week. Eric, who serves in the National Guard, was called to duty due to a hurricane, so recruited Theodore to drive the car to San Francisco. Somewhere in west Texas, Theodore hit debris, which caused a flat tire and complete destruction of the alloy wheel.
The specific resolution and allocation of rights and duties will depend on the agreement between Nolan, Eric, and Theodore, as well as applicable laws and insurance coverage. Eric was initially hired by Nolan but had to cancel due to National Guard duty, so he enlisted Theodore as a replacement.
1. During the journey, Theodore encountered an accident in west Texas that resulted in a flat tire and complete destruction of the alloy wheel. The relationship between Eric and Theodore is that of a temporary substitute. Eric was initially entrusted with the responsibility of driving Nolan's car but had to cancel due to his National Guard duty, which required his immediate attention. As a result, Eric recruited Theodore to take over the task and drive the car from Baton Rouge to San Francisco in his place.
2. The rights and duties among each party are as follows: Nolan, as the owner of the car, has the right to expect that his car will be safely driven to San Francisco. He also has the duty to compensate the driver, whether it is Eric or Theodore, for their services. Eric has the right to fulfill his National Guard duty, which takes precedence over his agreement with Nolan, and his duty is to find a suitable replacement. Theodore, as the substitute driver, has the right to be compensated for his time and effort, and his duty is to drive the car safely to San Francisco.
3. Unfortunately, during the journey, Theodore encountered an accident in west Texas where he hit debris, resulting in a flat tire and the complete destruction of the alloy wheel. In this situation, Theodore may have the right to claim compensation from Nolan for the damage to the car, depending on the terms of their agreement and any insurance coverage. Nolan, as the owner, may also have rights to seek reimbursement from Theodore for the damages caused to his car, if Theodore's actions were deemed negligent. The specific resolution and allocation of rights and duties will depend on the agreement between Nolan, Eric, and Theodore, as well as applicable laws and insurance coverage.
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Eric and Theodore are in a delegator and delegatee relationship. Eric, unable to fulfill his duty to drive Nolan's car to San Francisco because of National Guard duties, delegates this duty to Theodore. All parties have respective rights and duties, and a breach may occur if Eric was contracted to personally deliver the car.
Explanation:In this scenario, the relationship between Eric and Theodore is that of a delegator and delegatee. Eric, being unable to perform a task he committed to (driving Nolan's car to San Francisco), delegated this duty to Theodore. Nolan, Eric and Theodore each have distinct rights and duties. Nolan is the principal who has the right to have his car delivered safely but also the duty to pay Eric for this service. Eric has a duty to deliver the car safely but has the right to delegate or substitute his duty since he was unexpectedly called to duty. Theodore's duty is to deliver the car safely, having accepted the delegated task. However, if there was an agreement that Eric would personally undertake the task, Theodore’s failure to safely deliver the car could be a breach of the contract.
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1. Businesses should use Web sites as standalone items for e-commerce and not connect them to other commerce efforts by the business. True or False
Answer: False
Explanation: A website can be used for much more than just for standalone items
Websites have become an integral part of the e-commerce businesses; however, the scope of an ecommerce businesses shall NOT be restricted to be used as a standalone tool of ecommerce.
What is ecommerce?Ecommerce or electronic commerce refers to as carrying any kind of business using the internet for sale of the items available in exchange for returns in terms of profits.
Websites are the most widely used tools for conducting an ecommerce business; however, there are other tools that have helped in generating better sales of the ecommerce businesses like apps, social media marketing, affiliation, drop-shipping, etc.
Hence, it can be stated that the businesses should use websites as standalone items for ecommerce and not connect them to other commerce efforts by the business holds FALSE.
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Honesty is an example of a value.
True
False
Answer:
True
Explanation:
Honesty is a value
:)
Answer: true, personally not sure if this is for edge or not
Explanation:
yeah
Define store records
Answer:
this is an important document that helps an organisation to determine the rate of use of raw materials
Given the following make-buy information, what would be the break-even point?
Make Option
Buy Option
Fixed Costs
$5500
$1500
Variable Costs
$ 4
$ 9
800 units
460 units
1708 units
1200 units
When given the following make-buy information, the break-even point is calculated by multiplying the contribution margin per unit by the number of units required to recover the fixed cost. The answer is 1,100 units.
This means that the number of units at the break-even point is determined by dividing the total fixed cost by the contribution margin per unit. The contribution margin is determined by deducting variable costs from revenue. This implies that revenue - variable costs = contribution margin per unit.
The number of units at the break-even point is therefore calculated as follows: Contribution margin per unit = Revenue - Variable costs Contribution margin per unit = $9 - $4Contribution margin per unit = $5Fixed costs = $5,500Therefore, Number of units at the break-even point = Fixed costs/Contribution margin per unit= $5,500/$5= 1,100 units.The answer is 1,100 units.
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Requiring managers to prepare the budgets from scratch or zero-base may help them to overcome the problem of:
Answer: Excessive cost
Explanation:
Zero-based budgeting is the sort of budgeting where when income is subtracted from expenses it gives zero. This sort of budgeting puts a measure of the expenses, it ensures the expenses matches the income. The purpose of the budget plan is to justify expenses and optimize cost, thereby look out for cost effective ways to plan and avoid inflated budgets. It primarily guides against excessive costs on projects.
what ticket company, which is owned by live nation entertainment, had a hearing before the senate judiciary committee this week?
This week, a Senate Judiciary Committee heard testimony from Live Nation/Ticketmaster, which is managed by Live Nation Entertainment.
What is the judiciary of India?Despite India's dual polity, the judiciary is unified. There is a single, unified judicial hierarchy for the whole republic of India, with Supreme Court serving as both the top court and the adjudicator of disputes involving both the Union and also the States as well as the States individually.
What is an example of judiciary?There are several methods to employ judicial power, including in the following situations: An insurer fraud case is heard by a judge. The judge declares the defendant guilty on the basis of precedent set down in a prior case heard in another court.
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Case (tripbam:leveraging digital data streams to unleash savings) (A)) Questions:
1: Would you invest in TRIPBAM if you were a venture capitalist? why?
2: What is the added value of the TRIPBAM solution?
3:What would you do to ensure the success of TRIPBAM if you were Steve Reynolds?
Focus on building a strong team of experienced professionals to drive innovation and growth within the company.
1. Whether or not a venture capitalist would invest in TRIPBAM depends on several factors, including the potential for return on investment, the market size, and competition.
However, given the innovative use of digital data streams in the TRIPBAM platform, it could be an attractive investment opportunity.
2. The TRIPBAM solution provides several added values, including cost savings through hotel rate shopping, the ability to automate the rebooking process, and the provision of a user-friendly platform to streamline the booking process.
3. If I were Steve Reynolds, I would ensure the success of TRIPBAM by expanding the platform's reach to a larger customer base, establishing partnerships with major travel management companies, and leveraging the data generated by the platform to gain additional insights into travel booking patterns.
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Will give brainliest to anyone who can explain how to solve this
Find the amount of markup by subtracting the store cost from sale price:
25-5 = 20
Divide markup amount by cost:
20/5 = 4
Multiply by 100 to get percentage
4 x 100 = 400 %
The answer is B. 400%
Answer:
Explanation:
After-Before/Before = 25-5=20 / 5=4 = 400%B
please helps, its urgent
The part of his email declining the invitation to the correct section.
buffer - It was an honor to be invited to the opening of your new retail store.
reason - My current project requires me to leave town for a while.
bad news - I sincerely regret not being present on this occasion.
closing- I am sure that we'll have an opportunity to work together in the future.
What is Email?An email stands for electronic mail which is used as a method of communication in an official setting in the administrative environment to exchange any message.
The given email indicates a decline of an invitation in a positive manner to make the sender feel positive and does not show the arrogance of the receiver of the invitation.
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Total Quality Management (TQM) is a management approach to long-term success through customer satisfaction. Quality management is a discipline for ensuring that outputs, benefits, and the processes by which they are delivered, meet stakeholder requirements and are fit for purpose. a) Identify the disadvantages of TQM on employees related to the training duration, the negative effect of cost and the current system. (5 marks) (CLO5:PLO8:C2) b) Identify the main different between Quality Control and Quality Assurances in Quality Management. Give TWO (2) examples each of Quality Control activities and Quality Assurances activities. (5 marks)
a) There are several disadvantages of TQM on employees, like training duration, negative effect on cost, etc. b)Quality Control (QC) and Quality Assurance (QA) are both important aspects of Quality Management, but they are different in several ways.
1. Training Duration: Implementing TQM requires a significant amount of training for employees, which can be time-consuming and disruptive to their regular work schedules.
2. Negative Effect on Cost: While TQM can ultimately lead to cost savings in the long run, the initial implementation and training can be expensive and may negatively affect the company's bottom line in the short term.
3. Current System: TQM requires a significant shift in the way that a company operates, and this can be difficult for employees who are used to the current system. This can lead to resistance and a lack of buy-in from employees, which can hinder the success of TQM.
b) Quality Control (QC) and Quality Assurance (QA) are both important aspects of Quality Management, but they are different in several ways.
Quality Control is focused on identifying and correcting defects in products or services before they are delivered to customers. QC activities include inspecting products, testing samples, and monitoring production processes.
Quality Assurance, on the other hand, is focused on ensuring that the processes used to create products or services are consistent and meet quality standards. QA activities include auditing processes, reviewing documentation, and conducting training.
Examples of Quality Control activities include:
- Inspecting products for defects before they are shipped to customers
- Testing samples of products to ensure they meet quality standards
Examples of Quality Assurance activities include:
- Conducting audits of production processes to ensure they are consistent and meet quality standards
- Reviewing documentation to ensure it is accurate and complete
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term for when buyers and sellers do business
The term for when buyers and sellers do business is commerce or trade.
What is Commerce?Commerce refers to the exchange of goods, services, or products between parties, typically involving the buying and selling of goods or services in exchange for money or other forms of consideration.
Trade is another common term used to describe the exchange of goods or services between buyers and sellers, often involving negotiations, transactions, and economic activities aimed at satisfying the needs and wants of both parties.
Thus, both commerce and trade are fundamental aspects of economics and are essential for the functioning of markets and economies.
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Teen entrepreneurs in Florida find sweet
success in honey business
Why did the author MOST LIKELY conclude the article by describing future possibilities for Black Bee Honey?
because this demonstrates the danger of food deserts and the need for more honey access
because this shows how giving students ownership can help them develop new skills and goals
because this emphasizes the importance of ensuring that student businesses are successful
because this helps the reader understand how Black Bee Honey contributes to the community
The author most likely conclude the article by describing future possibilities for Black Bee Honey because this emphasizes the importance of ensuring that student businesses are successful.
What is an article?An article is a piece of writing about a particular subject that is included in a magazine, newspaper, etc. It is a nonfictional prose composition usually forming an independent part of a publication.
Teen entrepreneurs in Florida find sweet success in honey business. This statement emphasizes the importance of ensuring that student businesses are successful.
Therefore, the statement mentioned in C is correct.
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using the eol method, which decision alternative will you chose? a) sell company b) form joint venture c) sell software on own
Option C. Using the Eol method, the decision alternative that I would have tp choose is the sell software on own.
What is the EOL method?A statistical calculation called expected opportunity loss (EOL) is frequently used in business to help choose the best courses of action.
The option with the lowest or smallest EOL value is the best choice when utilizing the EOL as a decision criterion.
The opportunity loss table is produced by subtracting the highest payout possible from the actual payoff, or max(aij)-aij , from the highest payoff possible for the state of nature.
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april has joined a team with members from the sales customers service and shipping and receiving departments which term best describes the team april joined
Answer:
A cross-functional team
Explanation:
A cross-functional team is composed of members with different skills, experiences, and backgrounds. In organizations, cross-functional teams will have members from various departments. The teams are formed to undertake projects that require input from different experts.
April has joined a cross-functional team. The team has members from many departments. Cross-functional are temporally and get dissolved when the project is complete.
b Identify and explain two reasons why the primary sector is relatively more Important to Botswana than India.
Answer: The primary sector refers to industries that are involved in the extraction of natural resources and the production of raw materials. This sector includes activities such as agriculture, forestry, fishing, mining, and oil and gas production.
In Botswana, the primary sector is relatively more important than it is in India for several reasons:
Explanation:
1. Dependence on Natural Resources: Botswana is heavily dependent on its natural resources, particularly diamonds, which account for over 70% of the country's exports. The primary sector plays a crucial role in the country's economy, and its importance is reflected in the high levels of investment in the sector.
2. Agriculture and Livestock Production: While agriculture and livestock production plays a relatively minor role in India's economy, they are significant in Botswana, where they provide food and income for a large number of rural households.
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In response to threats from such companies as Amazon, established manufacturers and retailers became "brick-and-click" oriented by adding online services to their existing offerings. This is known as ________. Group of answer choices
Answer:
Re-intermediation
Explanation:
Re-intermediation is the method applied by most businesses in using the internet to bring together new customers for a business. The advent of technology can afford business owners the possibility of eliminating physical intermediaries in a business. For example, house agents help people who are seeking for new places to live in, find houses easily. Through the internet, however, landlords can directly advertise their vacant houses, thus eliminating the agent relationship which would have served as an intermediary.
So, when established manufacturers by-pass Amazon (which is an intermediary between buyers and sellers) by adding online services to their existing offerings, they have done a re-intermediation.
when a factory closes, why is it bad news for the local restaurants?
When a factory closes, it can lead to a decrease in the number of people employed in the area, which can result in lower income levels for the local community.
This can have a ripple effect on businesses, including local restaurants. With fewer people earning money, they may be less likely to dine out, resulting in a decline in customers for the restaurants. Additionally, if the factory was a major employer in the area, it may have drawn people from other towns or cities to work there. With the closure of the factory, these people may no longer frequent the local restaurants, further impacting their business. Overall, the closure of a factory can have a negative impact on the local economy, and local restaurants are just one of many businesses that may be affected.
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Which is a benefit of entrepreneurship?
A. Doing what you love
B. Easy to start a business
C. Safety nets in case you fail
D. Getting help from others
Answer:
A. Doing what you love.
Explanation:
It's not easy to start a business, most times you don't have a safety net to fall back on, and you don't typically get help from others. From process of elimination, that leaves A! Also, doing what you love is one of the best things about entrepreneurship! Hope this helped!
Cliff (w-2 wages: $16,228) and deb (w-2 wages: $2,600) send their daughter julia (born 10-1-2010) to daycare while they both worked. They paid $200 per month for daycare. They are filing mfj. They can claim the credit for child and dependent care expenses.
Since Cliff (W2 wages: $16,228) and Deb (W2 wages: $2,600) send their daughter Julia (born 10-1-2006) to daycare while they both worked. They paid $200 per month for daycare. They are filing MFJ. They can claim the credit for child and dependent care expenses is true.
Their eligible amount of work-related daycare expenses is option a. $1,800
What is the wages about?Cliff and Deb can claim the credit for child and dependent care expenses as they both worked and paid for daycare for their daughter Julia while they were working.
In order to be eligible for the credit for child and dependent care expenses, the expenses must have been incurred for the care of a qualifying individual, and the care must have been provided in order for the taxpayer to be able to work or look for work.
Additionally, the child must have been under the age of 13 when the care was provided. Julia being born on 10-1-2006 means she was under 13 when the care was provided. The credit can be taken as a percentage of the expenses they paid, up to a maximum amount based on their income.
The eligible amount of work-related daycare expenses for Cliff and Deb would be $1,800. As they file jointly, their combined W2 wages are $16,228 + $2,600 = $18,828.
That combined with $200 per month for daycare the maximum amount of the credit they can claim is limited to $1,800 which is usually lower than the total cost of the daycare. Note that these amounts can vary depending on the laws and regulations of each state, so it's best to check for the most recent information.
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See full question below
Cliff (W2 wages: $16,228) and Deb (W2 wages: $2,600) send their daughter Julia (born 10-1-2006) to daycare while they both worked. They paid $200 per month for daycare. They are filing MFJ. They can claim the credit for child and dependent care expenses.
True or False
Marthyda Ebireri
Cliff (W2 wages: $16,228) and Deb (W2 wages: $2,600) send their daughter Julia (born 10-1-2006) to daycare while they both worked. They paid $200 per month for daycare. They are filing MFJ. They can claim the credit for child and dependent care expenses. What is their eligible amount of work-related daycare expenses?
Choose one answer.
a. $0 b. $1,800 c. $2,400 d. $2,600 e. None of these
which was critical in opening the west for white settlement? A. A transcontinental railroad and access to landB. Agricultural aid and infrastructure developmentC. A transcontinental railroad and agricultural aidD. Business loans and access to land
A transcontinental railroad and access to land were critical in opening the West for white settlement. Correct option is A.
The transcontinental railroad was a major transportation system that linked the eastern and western coasts of the United States. It made it possible for people and goods to travel across the country more quickly and efficiently than ever before. The railroad allowed for the rapid expansion of settlement and trade in the West.
Access to land was also critical in opening the West for white settlement. The federal government encouraged westward expansion through the Homestead Act of 1862, which provided land to settlers for a small fee. This led to the settlement of large areas of the West by white farmers and ranchers.
Together, the transcontinental railroad and access to land enabled the rapid settlement and development of the West by white Americans. This expansion had significant consequences for Native American populations and the environment, leading to displacement, conflicts, and environmental degradation. Therefore, the correct option is A.
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1. Your friend asks to borrow $50 and offers to pay you back with interest. What factors
would you consider in your decision to accept or decline their request?
The factors that you have to think about would before giving out the loan would be the following:
The loan periodThe ability to pay back the loanThe interest that is on the loanHow the money is to be returned.What is a loan?This is the term that is used to refer to an amount of money that would be given to a person that is the borrower by the lender for a period pf time and for them to pay back with interest.
To be able to determine if you are to give out a loan, you have to take the ability of the person to pay you back the amount as a fator.
Also you have to check the character of the person that you are to loan the money to.
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(1) State which marketing environment affected Xerox's operation. (1mks)
(b) From your answer above, discuss which specific area from that particular enviroment affected how Xerox conducted business. (5mks)
Answer a:
Clearly, Xerox had one major issue concerning its marketing environment.
Due to technological changes, i's primary market was shifting and changing. Xerox didn't see it. Perhaps they did and decided it (the changes that is) not
Explanation:
One keyword or practice or culture or capability that was missing in Xerox was adaptability. Had they envisaged the future and created some internal structure to gradually cater to the changing requirements of their client base, they'd probably still be in business today.
So in a way, it wasn't really the change in the market that affected Xerox. It was Xerox' inability to respond to such changes that did it in. At some point, it became apparent to investors that Xerox was incapable to move with the next tide. They withdrew their funds, sold their shares and the rest is history.
Answer b:
The major area that affected how Xerox conducted business is the technology enviriomment.
Explanation
Due to the availability of technology which made it possible, peoples mindset were beginning to shift from keeping hard copies and or duplicating them to keeping electronic copies.
Two things made this idea very attractive:
1. It reduced cost greatly. In every era, cost reduction has always been an attractive business proposition for companies in any sector or subsector. As firms discovered they could cut down by keeping electronic copies of their documents, the idea quickly caught on. And so did the profits made by the renowned copier decline.
2. Another factor strenghtened the decline in making and keeping hard copies of documents is the ideology that the more papers we made, the more we were damaging our environment.
Companies that quickly adjusted even used their paper reduction efforts as a unique selling marketing proposition.
Cheers
A firm that primarily sells services rather than merchandise
A firm that primarily sells services rather than merchandise is a Professional services firm. A professional services firm is a business that primarily sells services rather than merchandise. Thus, option a) is correct.
Professional services firm offers specialized knowledge, skills, and expertise in a particular field to provide services to clients. Examples of professional services firms include accounting firms, engineering firms, architectural firms, and medical practices.
Professional services firms differentiate themselves by the expertise and value they bring to their clients. They typically employ professionals such as accountants, lawyers, consultants, doctors, engineers, or architects who provide specialized services based on their knowledge and qualifications.
These firms often operate on a client-centric model, focusing on building long-term relationships and delivering high-quality services tailored to meet specific client needs. They offer a range of services such as consulting, advisory, audit, legal representation, tax planning, or medical treatment, depending on their area of expertise.
The success of a professional services firm relies heavily on the expertise and reputation of its professionals. Clients seek out these firms for their specialized knowledge and skills, and trust is a crucial factor in their decision-making process.
In conclusion, a professional services firm primarily sells services rather than merchandise and leverages the expertise of professionals in a specific field. These firms play a critical role in providing specialized services to clients and building long-term relationships based on trust and quality. Thus, option a) is correct.
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Complete Question:
A firm that primarily sells services rather than merchandise
a) Professional services firm
b) Consulting firm
c) Management consulting firm
d) Law firm
2 points Save Answer Friends Partnership has three partners. The balance of each partner' capital is: Alia $48,000; Mariam $50,000 and Fatima $52,000. Alia withdraws from the Partnership. The remaining partners, Mariam and Fatima, agreed to pay cash of $54,000 for Alia from partnership. The partners share income and loss equally. Required 4 How much is the capital balance for the remaining partners Mariam and Fatima after the withdrawal of Alia. Please DO NOT use the "$" and "," signs in you ansewr. For example, if the right answer is Mariam $75,000 and Fatima $85,000, it should be EXACTLY written as: 75000 85000 Mariam Fatima
The capital balance for the remaining partners, Mariam and Fatima, after the withdrawal of Alia is:
Mariam: 51000
Fatima: 51000
To calculate the capital balance for the remaining partners, Mariam and Fatima, after the withdrawal of Alia, we need to determine the total capital balance and then divide it equally between the two partners.
Total capital balance of the partnership:
Alia's capital balance + Mariam's capital balance + Fatima's capital balance = $48,000 + $50,000 + $52,000 = $150,000
Since Alia is withdrawing from the partnership, her capital balance will be deducted from the total capital balance.
Remaining capital balance for Mariam and Fatima:
Total capital balance of the partnership - Alia's capital balance = $150,000 - $48,000 = $102,000
To divide the remaining capital equally between Mariam and Fatima, we divide the total by 2:
Capital balance for Mariam = $102,000 / 2 = $51,000
Capital balance for Fatima = $102,000 / 2 = $51,000
Therefore, the capital balance for the remaining partners, Mariam and Fatima, after the withdrawal of Alia is:
Mariam: 51000
Fatima: 51000
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Which of the following is used as the key determinant to signal to producers what
S.
to produce and how much to produce in a free-market economic system?
A) the market curve
B) trend
C) price
D) quantity
Answer:
i guess the answer is :- trend
Type the correct answer in the box. Spell all words correctly. What do inventory firms use when moving delicate products? Inventory firms use________ belts when moving delicate products.
its not multiple choice- need help!
Answer:
conveyor belts
Explanation:
A conveyor belt is a moving band, e.g. a conveyor belt is used in airports when you are retrieving your luggage after you arrive to your destination. They can be used to transport bulk materials or delicate products. Their length also varies, since they can be very short, e.g. just a few feet, to very long, e.g. transport goods for many yards.
9.3 From the following trial balance of G Still, draw up a trading and profit and loss account for the year ended 30 September 20X9, and a balance sheet as at that date. Stock 1 October 20X8 Carriage outwards Carriage inwards Returns inwards Returns outwards Purchases Sales Salaries and wages Warehouse rent Insurance Motor expenses Office expenses Lighting and heating expenses General expenses Premises Motor vehicles Fixtures and fittings Debtors Creditors Cash at bank Drawings Capital Stock at 30 September 20X9 was £44,780. Dr £ 41,600 2,100 3,700 1,540 188,430 61,400 3,700 1,356 1,910 412 894 245 92,000 13,400 1,900 42,560 5,106 22,000 484,253 Cr £ 3,410 380,400 31,600 68,843 484,253
The trading and profit and loss account shows a loss of £221,227 for the year ended 30 September 20X9. The balance sheet indicates that the company has net assets of £81,556, which is equal to the capital invested by the owner.
Trading and Profit and Loss Account for the year ended 30 September 20X9:
Revenue:
Sales: £61,400
Less: Cost of Goods Sold:
Opening Stock: £41,600
Purchases: £188,430
Carriage Inwards: £2,100
Less: Returns Outwards: £1,540
Carriage Outwards: £3,700
Closing Stock: £44,780
Cost of Goods Sold: (£41,600 + £188,430 + £2,100 - £1,540 - £3,700 - £44,780) = £182,110
Gross Profit: (Sales - Cost of Goods Sold) = (£61,400 - £182,110) = -£120,710 (Loss)
Operating Expenses:
Salaries and Wages: £3,700
Warehouse Rent: £1,356
Insurance: £1,910
Motor Expenses: £412
Office Expenses: £894
Lighting and Heating Expenses: £245
General Expenses: £92,000
Total Operating Expenses: (£3,700 + £1,356 + £1,910 + £412 + £894 + £245 + £92,000) = £100,517
Net Profit before Interest and Taxes: (Gross Profit - Total Operating Expenses) = (-£120,710 - £100,517) = -£221,227 (Loss)
Balance Sheet as at 30 September 20X9:
Assets:
Premises: £13,400
Motor Vehicles: £1,900
Fixtures and Fittings: £42,560
Debtors: £5,106
Cash at Bank: £22,000
Total Assets: (£13,400 + £1,900 + £42,560 + £5,106 + £22,000) = £84,966
Liabilities:
Creditors: £3,410
Net Assets: (Total Assets - Creditors) = (£84,966 - £3,410) = £81,556
Capital: £81,556
The trading and profit and loss account shows a loss of £221,227 for the year ended 30 September 20X9. The balance sheet indicates that the company has net assets of £81,556, which is equal to the capital invested by the owner.
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a loan is offered with monthly payments and a 14.5 percent apr. what is the loan's effective annual rate (ear)?
The loan's effective annual rate (year) is 15.50% .
EAR=(1+APR/m)^m-1
where m=compounding periods
=(1+0.145/12)^12-1
=15.50%(Approx).
An annual percentage rate is expressed as an hobby fee. It calculates how many of the predominant you may pay each year by taking matters consisting of monthly bills into consideration. APR is likewise the yearly price of interest paid on investments with out accounting for the compounding of interest inside that 12 months.
The time period annual percentage price of charge, corresponding every so often to a nominal APR and every so often to an powerful APR, is the hobby charge for a whole year, as opposed to only a monthly fee/charge, as applied on a mortgage, loan loan, credit card, etc. it is a finance price expressed as an annual charge.
APR, or annual percent rate, is your hobby price said as a every year charge. An APR for a mortgage can encompass expenses you will be charged, like origination fees. APR is essential due to the fact it can come up with a terrific idea of the way an awful lot you will pay to take out a loan.
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