Internship Report - Finance Associate at Gurchi Management INC.
Introduction:
During my internship as an Assistant Finance Associate at Gurchi Management INC., I had the opportunity to work with a diverse portfolio of small businesses, including gas stations and franchised restaurants. This report aims to provide a comprehensive overview of my field placement experience, focusing on the objectives, results achieved, tasks performed, skills gained, and recommendations for the employer and program coordinator. Additionally, it explores my personal growth, strengths, weaknesses, and plans for ongoing learning activities.
Objectives:
The primary objectives of my field placement were to fulfill and handle sales reports for various businesses on a weekly basis, manage the paperwork of company operations, establish a smooth relationship with banking personnel, and enhance skills in organizing, time management, cash handling, critical thinking, and multitasking.
Results Achieved:
Throughout my internship, I successfully achieved the set objectives. I consistently prepared and delivered accurate sales reports, ensuring that financial data was up-to-date and accessible for decision-making. Additionally, I effectively managed the paperwork associated with the company's businesses, ensuring compliance and streamlined operations. By establishing a strong rapport with banking personnel, I facilitated efficient banking transactions and resolved any financial issues promptly.
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Four year universities are the only type of school worth attending. True False
Answer:
false
Explanation:
Answer:
false
Explanation:
there are a number of other reliable schooling options
Laura is an HR manager for an organization. She is working on developing a
record retention procedure for managing important employee documents.
How long should she ensure that she has employee payroll records on file?
An HR manager, like Laura in the above case, has to ensure that they have the records of the employee payrolls documented safely in a file for a period of at least the next three years. Therefore, the option C holds true.
What is the significance of employee records?Employee records can be referred to or considered as the records that contain the historical as well as the present information of the employees as well as the ex-employees of the company. An HR manager has the responsibility of the maintenance of the employee records.
As per the directions mentioned under the laws relating thereto, the HR manager has to follow and duly abide the compliance of maintenance of the employee records of all kinds for a period of at least 3 financial years.
Therefore, the option C holds true and states regarding the significance of employee records.
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The question seems to be incomplete. It has been added below.
Laura is an HR manager for an organization. She is working on developing a record retention procedure for managing important employee documents. How long should she ensure that she has employee payroll records on file?
A. Current Year
B. One year
C. Three years
D. Until the employee serves
The impact of Furman v. Georgia (1972) was that states had to
promise to use the death penalty only with approval from the Supreme Court.
throw out the old Miranda warning and write a new one.
agree to throw out all state laws regarding crime and impose national standards.
create clear standards to be applied fairly before imposing the death penalty.
Answer: D.create clear standards to be applied fairly before imposing the death penalty.
Explanation: The answer it's right there
The impact of Furman v. Georgia (1972) was that states had to
create clear standards to be applied fairly before imposing the death penalty.The Furman v. Georgia caseThis was a case that had to do with the cruel and the unusual way that people faced in the death penalty.
The case ruled that the death penalty was unconstitutional if it was applied in a discriminatory way.
It ruled that the eight amendment was being violated if used in this way.
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The general, selling and administrative expense budget is normally prepared a) before the sales budget. b) after the master budget. c) after the capital budget. d) before the cash budget.
The general, selling and administrative expense budget is normally prepared before the cash budget.
Why Use a Cash Budget?A cash budget represents an estimate of a company's cash flows for a given time frame. A weekly, monthly, quarterly, or annual budget can be the subject of this. With the help of this budget, you may determine whether the company has enough cash on hand to keep running for the specified period of time.
What are a few examples of a monetary budget?The cash budget that a business might create looks like this: A corporation evaluates its financial situation to ascertain how much revenue it will have over the following three months from its unpaid accounts receivable, cash, and asset sales that will happen and close during the next three months.
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When choosing a business, which of these would be the best way to reduce the risk
of the unknown?
In choosing a business, the best way to reduce the risk of the unknown is C. Conduct research and due diligence.
How to reduce risk when choosing a business ?When choosing a business, one way to reduce the risk of the unknown is to conduct thorough research and due diligence. This may include analyzing market trends, assessing the competition, and gathering data on the industry and target audience.
It's also important to have a well-defined business plan and to carefully evaluate the potential financial performance and profitability of the business. Additionally, having a diverse portfolio and investing in multiple businesses can also help spread out risk.
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Options for this question include:
Looking at the finances you have Checking the businesses making the most money Conduct research and due diligencey
What are the two costs used to compare credit offers?
I
Question 2 (5 points)
What is the difference between simple and compound interest?
Answer:
#2Simple interest is interest paid only on the original investment whereas compound interest paid both on the original investment and on all interest that has been added to the original investment. Since compound interest is calculated based on a larger amount than simple interest, it results in a larger amount of money over time.
difference between relative and absolute scarcity
Answer: Relative scarcity could be described as that where the resources are limited in supply for a short while, due to manufacturing or supply challenges.
Absolute scarcity could he described as where supply is naturally limited. No possibility of the supply increasing.
Explanation:
Relative scarcity could be described as that where the resources are limited in supply for a short while, due to manufacturing or supply challenges.
Absolute scarcity could he described as where supply is naturally limited. No possibility of the supply increasing.
In relative scarcity, there is a probability of the supply to be made available later while in absolute, there is no possibility of it happening.
if you invest $1,000 in a very safe but non liquid one year CD that pays 2%, what will be your return when it matures????
Your return when the one-year CD matures will be $20, based on a 2% interest rate on the $1,000 investment.
If you invest $1,000 in a one-year Certificate of Deposit (CD) that pays 2% interest, the return at maturity can be calculated as follows:
Interest = Principal (amount invested) x Interest Rate
Interest = $1,000 x 2% = $20
Therefore, at the end of the one-year period, your return or interest earned on the CD will be $20. Keep in mind that this calculation assumes the interest is compounded annually and there are no additional fees or early withdrawal penalties associated with the CD.
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a purchaser receives equitable title to real estate: select one: a. by closing on the property b. by signing a valid sales contract on the property c. by accepting the deed to the property d. by receiving an estoppel certificate from the seller
By executing a legal sales agreement on the property, a buyer is granted equitable title to the real estate. Option b is Correct.
You are legally obligated to purchase the property if you sign the agreement. After contracts have been exchanged, neither the buyer nor the seller may withdraw. The exchange can only take place if your deposit is set up and prepared.
A contract's initial provisions are often changed by an amendment. Giving effect to the parties' intentions as specified in their agreement, as a reasonable person would understand them, rather than the parties, is the key to contract interpretation. Option b is Correct.
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If tanya purchased a $1,700 set of golf clubs on a nine-month layaway plan and had to pay a monthly payment of $201, what was the fee charged for the layaway plan?.
$109 was the fee charged for the layaway plan.
We have given in the question,
She purchased a $1,700 set of golf clubs on a nine-month layaway plan.She had to pay a monthly payment of $201.Now, we have to find the fee charged for the layaway plan.
For each of the 9 months, Tanya had to pay $201. Thus, in total, the amount she paid in dollars is:
T= 9($201) = 1809
The sum of her monthly payments is $1,809.
The original price of $1,700, paid $1,809, thus, the fee charged for the leeway plan, in dollars, was:
1809 - 1700 = 109
The fee charged for the layaway plan was $109.
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Coronado Industries uses the percentage-of-receivables basis to record bad debt expense and concludes that 3% of accounts receivable will become uncollectible. Accounts receivable are $385,200 at the end of the year, and the allowance for doubtful accounts has a credit balance of $2,870. (a) Prepare the adjusting journal entry to record bad debt expense for the year. (b) If the allowance for doubtful accounts had a debit balance of $887 instead of a credit balance of $2,870, prepare the adjusting journal entry for bad debt expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (a) Enter an account title Enter a debit amount Enter a credit amount Enter an account title Enter a debit amount Enter a credit amount (b)
Answer:
A. Dr Bad debt expense $8,686
Cr Allowance for Doubtful account $8,686
B. Dr Bad debt expense $10,669
Cr Allowance for Doubtful account $10,669
Explanation:
(a) Prepararion of the adjusting journal entry to record bad debt expense for the year.
Dr Bad debt expense $8,686
Cr Allowance for Doubtful account $8,686
[(3%*$385,200)-$2,870]
(Being to record bad debt expense)
B.Preparation of the adjusting journal entry for bad debt expense
Dr Bad debt expense $10,669
Cr Allowance for Doubtful account $10,669
[(3%*$385,200)+$887]
(Being to record bad debt expense)
A marketing manager who wants to identify opinion leaders for her product category should do which of the following?
A) She should find government officials who use the product.
B) She should find socially active persons who are very interested in the product category.
C) She should find intellectuals who can write academic papers about the product category.
D) She should look for people who rely on reward power to develop interest in a product.
The marketing manager should find socially active persons who are very interested in the product category in order to identify opinion leaders. Therefore, option B is the correct answer.
Opinion leaders are individuals who have a significant influence on the opinions and behavior of others in their social network. These individuals are often sought out by marketing managers because they can help spread positive word-of-mouth about a product or service. Socially active persons who are interested in the product category are more likely to be opinion leaders because they are knowledgeable about the product and have a strong interest in it. They are also more likely to have a wide social network and to be seen as experts or authorities in the product category. By identifying these individuals and targeting them with marketing efforts, the marketing manager can leverage their influence to promote the product and reach a wider audience.
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Assigning a senior employee to teach a junior employee about how the organization works with the idea of developing the junior employee is an example of ______. select one: a. coaching. b. development. c. succession management. d. mentoring.
Assigning a senior employee to teach a junior employee about how the organization works with the idea of developing the junior employee is an example of mentoring. Option D is answer.
Mentoring refers to a process in which an experienced and knowledgeable individual (mentor) provides guidance, support, and knowledge transfer to a less experienced individual (mentee) to help them develop their skills, knowledge, and career. In this scenario, the senior employee takes on the role of a mentor and engages in teaching the junior employee about how the organization operates. The purpose is to facilitate the junior employee's growth and learning within the organization.
Option D (mentoring) is the correct answer.
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Which of the following BEST represents democratic values?
a) the power to rule
b) equality among people
c) freedom to travel
d) the right to free books
can some one plss help me???
Answer:
B
Equality among all the people
Teresa is considering purchasing a home for $220,000 by taking out a loan with an interest rate of 4.3% for 30 years. What would her monthly payment be?
Use the monthly payment formula to calculate the monthly payment for this loan:
M =
M = monthly payment
P = principal
r = interest rate
t = number of years
Answer:
$1,088.144
Explanation:
The applicable formula is as below as derived form annuity concepts.
M = PV × r
1 − (1+r)−n
where p= $220,000
r = 4.3% interest rate per year;
Per month interest rate = 0.043 /12=0.00358
r = 30 year, in months = 30 x 12 =360
Therefore
M= $220,000 x 0.00358
1-(1+0.00358) ^ - 360
M=$220,000 x 0.00358
1 - 0.2762
M = $220,000 x(0.00358 /0.7238
M = $220,000 x 0.00494611
M = $1,088.144
50 POINTS
Latasha works with three and four-year-olds in a inner-city afterschool program. The pathway in human services cluster that Latasha works in is.
A. Early childhood development.
B. Counseling and mental health services.
C. Family and Community Services.
D. Personal care services
A. Early Childhood Development.
Answer:
Latasha works with three and four-year-olds in a inner-city afterschool program. The pathway in human services cluster that Latasha works in is.
A. Early childhood development(No need brainliest)
Four ways in which schools could promote entrepreneurship as a viable option to counteract unemployment
Answer:
Entrepreneurship is an important alternative to counteract unemployment. It not only gives provides employment to the entrepreneur but also provides jobs to others as well.
Explanation:
Entrepreneurship may be defined as the setting up of a business or a work looking out for making profit dealing with the risks and the challenges on its own.
Four ways in which the school can promote entrepreneurship as a viable option to counteract unemployment are :
build awareness and promote entrepreneurship among the students.Provide the benefits of being an entrepreneur and showing them the possibilities of setting up a business that can even provide jobs to others.Providing with valuable ideas and guidance regarding setting up a business and giving an overview of the current market trends and market study.Helping the students reach out to other entrepreneurs and also providing ways to get any financial aid to set up a business.Four Ways through which Schools can promote Entrepreneurship include the following
Creation of entrepreneurship centres to provide consulting to non-profits and small businesses.Awareness creation through seminars and lectures on the importance of entrepreneurship as an alternative to paid employment. Host entrepreneurship contests where incentives are given.Inviting influential and professional entrepreneurs to give lectures.What is Entrepreneurship ?Entrepreneurship is defined as the process of starting up a business, and taking up the responsibility of financial risk with the hope of making profit.
Entrepreneurship is a potent means of reducing unemployment to the lowest minimum.
Entrepreneurship brings about creativity and as such value is created which leads to more wealth.
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Graphic organizers may help you better understand information you wrote down in your notes.
T or F
Answer:
True.
Explanation:
Answer:
Graphic organizers can help to visualize and construct ideas, organize and/or sequence information, plan what to write, increase reading comprehension, brainstorm, organize problems and solutions, compare and contrast ideas, show cause and effect, and more.
Explanation:
Hello,
I need help with this accounting assignment. Please show
steps/calculations.
An analysis of transactions for Oriole Company, a certified public accounting firm, for the month of August is as follows. Assume that August is the company's first month of business.
Prepare an reta
The transactions for Oriole Company, a certified public accounting firm for the month of August, are given below. Prepare a retained earnings statement. Assume that August is the first month of business.
The opening balance of the retained earnings is zero.Oriole Company transactions for August are as follows:Sales revenue of $25,000 was generated, with $18,000 in cash and the remaining amount on credit.Operating expenses of $12,500 were incurred, with $8,000 paid in cash and the remaining amount to be paid in September.
$3,000 was paid in dividends. Oriole Company's retained earnings statement is prepared as follows::Calculation of the net income of Oriole Company :Net Income = Sales revenue - Operating ExpensesNet Income = $25,000 - $12,500Net Income = $12,500Calculation of the ending balance of Retained Earnings:The beginning balance of Retained Earnings = $0Ending balance of Retained Earnings = Beginning balance + Net Income - DividendsEnding balance of Retained Earnings = $0 + $12,500 - $3,000Ending balance of Retained Earnings = $9,500Therefore, the ending balance of Retained Earnings for Oriole Company is $9,500.
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rory company has an old machine with a book value of $75,000 and a remaining five-year useful life. rory is considering purchasing a new machine at a price of $90,000. rory can sell its old machine now for $60,000. the old machine has variable manufacturing costs of $33,000 per year. the new machine will reduce variable manufacturing costs by $13,000 per year over its five-year useful life. (a) prepare a keep or replace analysis of income effects for the machines. (b) should the old machine be replaced?
The incremental income. $7,500
In calculating the Incremental income, we will add the amount of variable Manufacturing costs Rory Company will save as well as the income they will get from selling the old machine and then subtract the cost price of the new machine.
Starting off we will calculate the amount of savings they will make by using the new machine,
= $12,000 x 5 years
= $60,000
Calculating the Incremental income therefore we have,
= 60,000 + 60,000(from selling old machine) - 112,500 (cost of new machine)
= $7,500
The incremental income of buying the new machine is $7,500.
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Bank's Balance Sheet
Assets Liabilities and Owners' Equity
Reserves $200 Deposits $1,600
Loans $800 Debt $250
Securities $1,000 Capital (owners' equity) $150
Suppose a new customer adds $100 to his account at Northeastern Mutual Bank, which the owners of the bank then use to make $100 worth of new loans. This would increase the loans account anddecrease the account.
This would also bring the leverage ratio from its initial value of to a new value of .
Which of the following is true of the capital requirement? Check all that apply.
Its intended goal is to protect the interests of those who hold equity in the bank.
It specifies a minimum leverage ratio for all banks.
The higher the percentage of assets a bank holds as loans, the higher the capital requiremen
This would increase the loans account and increase the deposits account. The initial value of 13.33 to a new value of 14. The higher the percentage of assets a bank holds as loans, the higher the capital requirement. Thus, option (c) is correct.
What is a Balance Sheet?
The balance sheet and details of reconciled transactions for each account are the two most important reports that the accountant will want.
(a) This would increase the reserves account and increase the deposits account.
(b) The bank leverage ratio refers to its Assets divided by Capital (Owner's equity).
Liabilities should match assets. Therefore, keeping both sides equal by adding $100.
= (Reserves + loans + securities)/Capital
= (200 + 800 + 1,000) / 150
initial value of 13.33
After the $100 was borrowed
= (200 + 800 + 1,000 + 100) /150
new value of 14
(c) The capital requirement increases as the proportion of an institution's assets held as loans rises. Given that loans are made from deposits, the capital requirement is intended to safeguard depositors in the event that loans are defaulted upon.
Hence, the significance of the Balance Sheet is aforementioned.
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which of the following costs would be variable with respect to the number of ice cream cones sold? group of answer choices the cost of lighting the store. the wages of the store manager. the cost of employee insurance. the cost of ice cream.
The following costs would be variable with respect to the number of ice cream cones sold and the cost of lighting the store.
An easy variable is a single record item. It incorporates the simplest value. A simple variable can be any of the fundamental statistics kinds, which includes integer or varchar, with the exception of table_key and object_key as described in facts types.
Variables are used to store information to be referenced and manipulated in a pc program. In addition, they provide a manner of labeling statistics with a descriptive name, so our programs may be understood extra actually by way of the reader and ourselves. It's far more useful to consider variables as containers that hold information.
Quantitative variables are any variables in which the statistics represent amounts (e.G. Peak, weight, or age). Categorical variables are any variables in which the statistics constitute agencies. This consists of rankings (e.G. Completing locations in a race), classifications (e.G. Manufacturers of cereal), and binary effects (e.G. Coin flips).
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rent received Rs. 10,000/-
Answer:
Okay, but where is the question or it's free points?
List the six areas of interest.
Answer:
Six areas of interest are: building,thinking,creating,holding, persuading and organizing.
Explanation:
Explain in your own words how traffic congestion leads to allocative inefficiency.
Answer:
Wear and tear on vehicles leads to more recurrent replacements and repairs.
Explanation:
Traffic congestion can occur as a result of a lack of road capacity.
The causes of traffic congestion include overpopulation, frequent use of private cars, and inadequate public transport.
Traffic congestion may slow down the growth of metropolitan cities.
It also formulates economic geographies.
Wear and tear on vehicles leads to more recurrent replacements and repairs.
T/F Mixed economies can evolve when societies with different kinds of economies interact
Mixed economies can evolve when societies with different kinds of economies interact. This statement is true.
A mixed economic system is one that incorporates elements of both capitalism and socialism.
A mixed economic system protects private property and provides for some economic freedom in the use of capital, but it also permits governments to intervene in economic activities to achieve social goals.
According to neoclassical theory, mixed economies are less efficient than pure free markets, but supporters of government intervention claim that the fundamental prerequisites for efficiency in free markets, such as equal knowledge and rational market players, cannot be met in practice.
Most modern economies are a hybrid of two or more economic systems, with economies falling somewhere along a spectrum.
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who do you think is gonna win this election/who are you voting for?
Answer:
please mark me Brainliest: i think joe Biden will win definitely
Explanation:
What are some things that the presenter can do to engage the audience?
Answer:
Wow
Explanation:
Co
Answer:
Start your presentation by making them think. Ask them a question, or start with statistics. Make your presentation as relatable as it can possibly get. DON'T repeat yourself. I causes the audience to get board. Don't tell them why your presentation matters, show them. Be confident and do your best. It spreads a positive message and the more confident you seem on the topic and on the presentation the more people will want to listen.Explanation: BELIVE IN YOURSELF AND DO YOUR BEST, if it still doesn't go well, life might be trying to tell you something.
Hope this helps! I know you'll do great!
examine your own leadership style. which behaviors are you more likely to demonstrate? which decision-making style are you more likely to use? explain why.
Behaviors i might probably to illustrate for leadership are-
1. Being grounded in ethics and integrity
2. constructing trust with stakeholders
3. Bringing others along in every proper result
4. Inspiring those around me
5. Making choices that allows you to advantage not only to the business enterprise however also to the network.
6. inspire innovation
7. reward achievement
Directive decision-making style are I more likely to use because The directive decision-making fashion makes use of brief, decisive thinking to return to an answer.
A directive decision-maker has a low tolerance for doubtful or ambiguous ideas. they're focused on the project and could use their very own expertise and judgment to come back to a end with selective enter from different people.
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importance of Technical profession
Answer:
The technical profession has always been important as it has replaced the society from nomadic to the modern era. ... The facilities of medicines, surgical works, communication, computer technology, transportation system, etc are the result of technical professions.