To close the General Expenses account on December 31, 2020, a closing entry is made by debiting General Expenses for BD24,600 and crediting Income Summary for the same amount. This entry transfers the expense amount to the Income Summary account, preparing the books for the next accounting period.
The closing entry for expenses involves transferring the balance of the General Expenses account to the Income Summary account. By debiting General Expenses, we are reducing its balance to zero. This represents the total expenses incurred during the accounting period. On the other hand, by crediting Income Summary, we are increasing its balance by the same amount, representing the total expenses being transferred.The necessary closing entry for expenses on December 31, 2020, based on the available information would be:
Debit: General Expenses BD24,600
Credit: Income Summary BD24,600
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assuming intrest rates were 6% per annum, what would be the present value of the $50,000 per year for 30 years payment stream?
The present value of the $50,000 per year for 30 years payment stream at an interest rate of 6% per annum is $908,661.50.
What is interest rate?Interest rate is the cost of borrowing money, or the rate of return from investing money. It is expressed as a percentage of the principal, or original amount borrowed or invested. Interest rates are determined by a variety of factors, including economic conditions, inflation, the amount of money banks have available to lend, and the creditworthiness of the borrower. Low interest rates encourage borrowing and spending, while high interest rates slow down economic activity. Central banks, such as the Federal Reserve in the United States, use interest rates to influence economic activity and fight inflation.
Present value is the current value of future payments. It is calculated by discounting the future payments with an interest rate.
Using the formula PV = FV/(1+r)^t, where PV is the present value, FV is the future value, r is the interest rate and t is the time period, we can calculate the present value of the payment stream.
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T/F: the marketplace for janitorial products and services is changing, both in nature and scope.
True, the marketplace for janitorial products and services is changing, both in nature and scope. Janitorial services and cleaning products are an essential part of the commercial and industrial sectors.
Cleaning is a basic necessity for every living space. Janitorial products are typically used to clean and sanitize indoor environments such as buildings, schools, and offices, among other things. However, the marketplace for janitorial products and services is changing due to a variety of factors, including increased environmental and health concerns and technological advancements that allow for more efficient cleaning processes.
Therefore, it is safe to conclude that the statement, "the marketplace for janitorial products and services is changing, both in nature and scope" is true.
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Which of the following characteristics of tourism services explains which guests need to be present when the service is being performed?
limit pricing will effectively deter entry when multiple choice the entrant must commit to enter the market. the incumbent links the pre-entry price to post-entry profits and has incomplete information and the entrant must commit to enter the market. the incumbent links the pre-entry price to post-entry profits. the incumbent has incomplete information.
In a scenario involving limit pricing as a deterrent strategy, the incumbent firm sets a low price in the market to prevent potential competitors from entering. The entrant is required to make a commitment to enter the market, and the incumbent links the pre-entry price to post-entry profits.
The scenario you described involves a strategic decision by an incumbent firm to deter entry by a potential competitor through limit pricing. Let's break down the key elements:
Limit Pricing: Limit pricing is a strategy employed by an incumbent firm to set a low price in the market, specifically below the potential entrant's cost of entry. The aim is to make it unprofitable for the entrant to enter the market, thereby deterring competition.
Commitment to Enter: In this case, the potential entrant is required to make a commitment to enter the market. This commitment can be in the form of a contractual obligation, significant upfront investment, or other binding agreements that indicate the entrant's intention to enter the market.
Incumbent's Information: The incumbent firm has incomplete information about the potential entrant's cost structure, profitability, or other relevant factors. This lack of information can make it challenging for the incumbent to accurately assess the entrant's potential to compete effectively.
Linking Pre-entry Price to Post-entry Profits: The incumbent links the pre-entry price it sets in the market to the post-entry profits it expects to earn. This means that the incumbent considers the impact of its pricing strategy on future profitability and attempts to maintain a level of profit that would be lower if entry were to occur.
By employing limit pricing, the incumbent hopes to discourage entry by making it economically unattractive for the potential entrant. The incumbent takes advantage of its market position, incomplete information, and the commitment required from the entrant to maintain its dominant position and discourage potential competition.
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Under the Uniform Securities Act, a registration statement of an issuer must contain all of the following information EXCEPT A) the current balance sheet and profit/loss statements B) the business of the issuer C) the identity of the officers and directors and the extent of their holdings in the issuer D) the names of all the owners of the company's stock
Answer:
D) the names of all the owners of the company's stock
Explanation:
According to the uniform securities act, the registration statement of an issuer have the following kind information
1. The current balance sheet and the profit & loss statement
2. The issuer business
3. The identity of the officer & direction and their holding
But it does not involve the owners name in the company stock
So, the same is to be considered
what is the role of the congressional budget office (cbo)? why is independence and impartiality important when conducting empirical analyses?
The Congressional Budget Office (CBO) is a nonpartisan federal agency that provides economic and budgetary analyses to Congress. Independence and impartiality are important when conducting empirical analyses as it ensures that there is no bias in the results.
The Congressional Budget Office (CBO) is a nonpartisan agency that provides budget and economic information to Congress. The CBO is responsible for analyzing and providing estimates of the budgetary and economic impact of proposed legislation, as well as producing reports on a variety of budget and economic issues.
Independence and impartiality are crucial in the work of the CBO because it ensures that the information and analyses provided to Congress are unbiased and objective. This allows Congress to make informed decisions about proposed legislation without being swayed by political or special interests. Without independence and impartiality, the credibility and reliability of the CBO's work would be compromised, and Congress would not be able to trust the information provided by the agency.
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A firm is evaluating two projects that are mutually exclusive with initial investments and cash flows as follows: Table 10.3 ect B ect A Initial Investment Cash Flows End-of-Year Initial Investment $90,000 End-of-Year Cash Flows $40,000 40,000 80,000 $20,000 20,000 20,000 $40,000 If the firm in Table 10.3 has a required payback of two years, it should 0 A. reject Project A and accept Project B ( B. reject both the projects O C. accept Project A and Project B ( D. accept Project A and reject Project B
When evaluating mutually exclusive projects, it is important to consider the initial investments, cash flows, and required payback period. By calculating the payback period for each project, the firm can determine which project(s) to accept or reject based on their investment and cash flow patterns.
Based on the information provided, the firm has a required payback period of two years. Project A has an initial investment of $90,000 and cash flows of $40,000 in each of the first two years, and $20,000 in the third year. Project B has an initial investment of $40,000 and cash flows of $80,000 in the first year and $20,000 in the second and third years.
To determine which project to accept or reject, we need to calculate the payback period for each project. The payback period is the amount of time it takes for the initial investment to be recovered through cash flows.
For Project A, the payback period is calculated as follows:
Year 1: $90,000 - $40,000 = $50,000 remaining
Year 2: $50,000 - $40,000 = $10,000 remaining
Year 3: $10,000 - $20,000 = -$10,000
The payback period for Project A is two years.
For Project B, the payback period is calculated as follows:
Year 1: $40,000 - $80,000 = -$40,000
The payback period for Project B is less than one year.
Since Project A meets the required payback period of two years, it should be accepted. Project B does not meet the required payback period and should be rejected. Therefore, the firm should accept Project A and reject Project B.
In summary, when evaluating mutually exclusive projects, it is important to consider the initial investments, cash flows, and required payback period. By calculating the payback period for each project, the firm can determine which project(s) to accept or reject based on their investment and cash flow patterns.
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If you invest $1,000 at 12% interest, how much money will be in the account after two years, compounded annually? $1,240 $1,120 $1,254.40 $1,300
Answer:
FV= $1,254.4
Explanation:
Giving the following information:
Initial investment= $1,000
Number fo years= 2
i= 12% compunded annually
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
PV= present value
FV= 1,000*(1.12^2)
FV= $1,254.4
Next Saturday, best friend, Sol, and I will have separate acts in a citywide talent contest. But we've just made a _____ with each other that will help us from feeling jealous if one of us wins and one loses. We've decided that if one of us wins, that person will share the prize money with one another.
Answer:
truce
Explanation:
Here is the full question :
Next Saturday, my best friend. Sol and I will have separate acts in a citywide talent contest. But
we've just made a _____with each other that will help us from feeling jealous if one of us
wins and one loses. We've decided that if one of us wins that person will share the prize money
with the other one.
Which word BEST completes the sentence?
truce
alliance
treaty
pact
A truce is an agreement between people to stop fighting for a limited.
Sol and his best friend made an agreement that would stop them from fighting
A pact is an agreement between people
Answer:
Truce (that the correct one).
Explanation:
Politicit is a company that makes predictions on political races. The company makes these predictions by finding patterns and relationships in large amounts of data by using machine learning algorithms called __________.
The company makes these predictions by finding patterns and relationships in large amounts of data by using machine learning algorithms called predictive analytics.
What's the predictive analyticsPoliticit uses machine learning algorithms called predictive analytics to make predictions on political races.
These algorithms are designed to find patterns and relationships in large amounts of data and use them to make predictions on future events.
By analyzing data on things like voter demographics, polling trends, and historical election results, Politicit is able to create accurate and reliable predictions on the outcome of political races.
The company's use of machine learning algorithms is what sets it apart from other political analysis firms, as it allows for more advanced and complex analysis of data.
Overall, Politicit's use of predictive analytics helps provide valuable insights into the world of politics and can be a powerful tool for political campaigns and organizations
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What is the first step that needs to be performed when configuring in-place records management in SharePoint
The first step in configuring in-place records management in SharePoint is to enable the Records Management feature at the site collection level.
To do this, you need to have the necessary permissions as a site collection administrator or a member of the SharePoint Farm Administrators group. Once you have the required access, go to the site collection's settings and navigate to "Site Collection Features." Locate the "In-Place Records Management" feature and activate it. The first step in configuring in-place records management in SharePoint is to enable the "In-Place Records Management" feature at the site collection level. This involves accessing the site collection settings, navigating to "Site Collection Features," and activating the feature.
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50 points, please get this done ASAP
Answer:
your answer is C
Explanation:
Which business letter feature is found at the top of the page?
answer:
Letter head
Explanation:
typically has the companies logo at the top of the page
Carradine Company prepares an adjusting journal entry to accrue salaries at year-end. What effect will this entry have on the financial statements
Answer: Increase in Liabilities; Decrease in Equity
Explanation:
If Salaries are accrued at year end, the salary expense will be credited to the Salaries Payable account which is a liability account to reflect that the company owes its staff some money.
The amount owed will be debited to the salaries expense account and so will reflect in the Income statement where it will reduce the net income for the period. This means that it will reduce Retained Earnings for the period and as Retained earnings is an Equity account, Equity in total will decrease.
Most advertising spending is directed to _____.
Answer:
the internet
Explanation:
stuart corporation paid one of its sales representatives $6,000 during the month of march. the rep is paid a base salary plus $14 per unit of product sold. during march, the rep sold 180 units. Calculate the total monthly cost of the sales representative's salary for each of the following months:
Given,Salary paid during March = $6,000Base salary of the sales representative = $xAdditional amount paid per unit of product sold = $14Units of product sold in March = 180Let the total monthly cost of the sales representative's salary for April and May be C.
April salary calculation:Let the number of units sold in April be n.Now, the total amount paid to the sales representative in April = Base salary + Additional amount paid per unit × Number of units sold= x + 14nAnd, given that the sales representative has earned C in April.So, the equation becomes: x + 14n = C ...................(1)May salary calculation:Let the number of units sold in May be m.Now, the total amount paid to the sales representative in May = Base salary + Additional amount paid per unit × Number of units sold= x + 14mAnd, given that the sales representative has earned C in May.So, the equation becomes: x + 14m = C ...................(2)Main Answer:C, the total monthly cost of the sales representative's salary in April and May can be found by solving equations (1) and (2).Subtracting equation (1) from equation (2), we get:14m - 14n = 0⇒ m - n = 0 (dividing both sides by 14)So, the number of units sold in April and May is the same.Now, adding equation (1) and equation (2), we get:2x + 14n + 14m = 2C⇒ x + 7n + 7m = C ..................(3)Substituting n = m in equation (3), we get:x + 14n = CTherefore, the total monthly cost of the sales representative's salary is ${{\text{C = x + 14n = 6000 + 14 × 180 = 6000 + 2520 = 8520}}}.Hence, the total monthly cost of the sales representative's salary is $8520 in each of the following months: April and May.
In the given problem, we have calculated the total monthly cost of the sales representative's salary for each of the following months using the given information. The main answer is $8520.
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What did your backpack design total up to?
A. $0 - $30
B. $31 - $44
C. $45 - $54
D. $55 - $64
E. $65 - $74
F. $74
Capacity and eco-friendliness are tied for the top ranking factors in this market sector at 68% each. The frequency of transactions is a crucial consideration when it comes to purchasing behavior. The average consumer in this market buys a backpack every two years.
Given that they have gone two years without making a purchase, this suggests that they are doing it on purpose. Durability Durable materials are used to make high-quality backpacks. YKK-grade nylon zippers and nylon straps are typically used on heavy-duty backpacks, which are typically composed of ultra-strong nylon fabric. The most widely used fabrics for packs are nylon and polyester.
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a company will debit ___________ when recording a credit sale.
A company will debit accounts receivable when recording a credit trade.
The balance of plutocrat owed to a business for goods or services delivered or utilized but not yet paid for by guests is known as accounts delinquent( AR). On the balance distance, accounts receivable are shown as a current asset. Any sum of plutocrat that guests owe for purchases they made using credit is known as AR.
The term" accounts receivable" describes the overdue bills or cash that guests owe a business. The term describes accounts that a company is entitled to get since it has handed a good or service.
Receivables, also known as accounts delinquent, are a company's line of credit that generally include terms that call for payments to be made within a kindly short time frame. Generally, it begins with a many days.
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True or false: Studying business does NOT offerlany benefits for those who decide to work for a government agency or a nonprofit organization
The following question is : false
The given statement stating that "the study of business would not help in knowing about the advantages of Non-profit organizations or government agencies" would be considered:
b). False
'Non-profit Organizations' are characterized as the 'type of business organizations or set up that does not work with the aim of profit but for social welfare. Similarly, the sole motive of a government agency is also 'social welfare.' However, the workings of both the kinds of organizations(business and NPOs) are similar like the recruitment of staff or volunteers, ensuring productivity, putting the revenue back to the firm for progression of its operations, etc. Both of them have a goal of leaving the maximum impact on the people. Thus, the given statement is false as studying about business would give a very clear idea about the various processes of an organization.Learn more about 'Non-Profit Organization' here:
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Target Date Funds invest mainly in bonds at the beginning of the life of the fund & move toward stocks as the target date approaches.
True
False
False. Target Date Funds invest mainly in bonds at the beginning of the life of the fund & move toward stocks as the target date approaches.
Target Date Funds, also known as lifecycle funds or age-based funds, are investment funds that are designed to automatically adjust the asset allocation mix based on the target retirement date of the investor. These funds typically start with a more aggressive asset allocation, with a higher proportion of stocks, in order to seek higher returns. As the target date approaches, the fund gradually shifts towards a more conservative asset allocation, with a higher proportion of bonds and cash equivalents, to reduce the risk and volatility as investors near their retirement age. The objective is to align the investment strategy with the investor's changing risk tolerance and investment horizon over time.
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A hair salon designed to appeal to children does not use the standard salon furniture. Instead, children sit on carousel horses to get their haircuts. Large TV monitors strategically located throughout the salon show kid-targeted videos and cartoons are there to entertain the children. The child-friendly hair salon's servicescape serves in what two capacities?
Answer:
a differentiator and facilitator
Explanation:
Since in the question it is mentioned that hair salon would be designed for children where the standard furniture would not be used rather using this, the children would sit on carousel houses for their haircuts also the cartoon videos should be shown to them so here the two capacities would be differentiator and facilitator as it is different in providing the service and here the learning would be easy
the economic value of ecotourism
Answer:
Explanation:
Ecotourism is a type of tourism to conserve and improve natural rural areas. It fuses the ideas of environmental protection, cultural awareness, and low impact travel for vacationers.
It has three main goals. They are:
1. To economically and socially benefit local people
2. Conserve the existing culture and habitat of a region.
3. Prevent harmful impacts to the environment.
Ecotourism celebrates the hyper-local importance of regional biodiversity, nature and geography. It helps appreciate the beauty of animals and plants without impacting them with pollution, excessive water and energy use and overcrowding.
Countries like Costa Rica, Madagascar, Kenya, and Ecuador have adapted ecotourism very integrally.
Some of the possible economic benefits of ecotourism are that it can provide job opportunities to the local community which will provide them with a source of income and improved lifestyle for the locals. It can bring foreign currency into the country when the foreigner pays for entrance fees, local food, souvenirs etc.
According to United Nations World Tourism Organization there were an estimated 25 million tourist arrivals in 1950, but that number increased drastically by 2018, reaching an astonishing 1.4 billion tourist arrivals. In 2019, global travel and tourism contributed to 8.9 trillion to the world's GDP.
Ecotourism should also include education and interpretation for cultural bridge building. This fosters respect between staff, visitors, community members and increase its economic value. It not only maintains a healthy ecosystem but also provides economic support to those who need it.
CAN YALL PROMISE ME U WILL BE NICE TO EVERYONE please and thx
Answer: yes
Explanation: because yes
Question 1 / 11 Owner distribution is a(n) account. O iability O asset O expense O equity
Owner distribution is Equity account. Owner distribution is an equity account as it is capital in nature and comes under equity head.
The financial representation of a company's ownership is represented by equity accounts. Equity can be obtained from residual earnings or payments made to a business by its owners. Equity is held in a variety of accounts because of the various sources of equity funds.
Natural credit balances exist in all equity accounts, with the exception of the Treasury Stock Account. If the retained earnings account has a debit balance, it means that the company has either been losing money or has paid out more dividends than it had in retained earnings. Corporations frequently make use of the following equity accounts-
Common StockPreferred StockAdditional Paid-In CapitalRetained EarningsTreasury StockTo know more about equity account visit
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all of the following are primary sources of long-term debt financing for companies, except _____.
Payments to be made. The capital structure of a company refers to: Its combination of stockholders' equity and liabilities.
What is a source of debt financing?
Obtaining bank loans, issuing bonds, or issuing commercial paper are all common forms of debt financing. capital. long-term funds Common Debt Financing Methods Financial institutions like commercial banks, savings associations, and finance companies attempt to provide financing to businesses.
What are the four options for long-term funding?
The primary sources of long-term finances for businesses are the capital market, special financial institutions, banks, non-banking financial companies, retained earnings, as well as foreign investment and external borrowings.
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ABC Company issued a bond with face value for $1000, paid annual 10% coupon and 3 years to maturity, what is the value of ABC bonds today if the required rate of return is 12%.
Answer:
The value of Bond = $951.963
Explanation:
The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV) discounted at the yield rate
Value of Bond = PV of interest + PV of RV
Th e PV of interest payment
A ×(1- (1+r)^(-n))/r
Interest payment = 10%× 1000 = 100
PV = 100× (1- 1.12^(-3))/0.1 = 240.183126
PV of redemption value
PV = RV× (1+r)^(-n)
PV = 1000× 1.12^(-3) = 711.7802
The value of bond = 240.18 + 711.78= 951.963
The value of Bond = $951.963
A bakery sells two different types of loaves of bread, made-from-scratch bread and pre-mixed bread. The made-from-scratch bread require(s) three steps: mixing, baking and packaging. The pre-mixed bread only require(s) two steps: baking and packaging The mixing step has a capacity of 170 loaves per hour. The baking step has a capacity of 280 loaves per hour. The packaging step has a capacity of 275 loaves per hour. The demand for made-from-scratch bread is 278 loaves per hour and the demand for pre-mbed bread is 203 loaves per hour. Instruction: Round to the nearest integer percentago. What is the implied utilization of the bottleneck resourco
The implied utilization of the bottleneck resource for this bakery is 175% (packaging)
Any resource whose capacity is equal to or less than the market demand placed on it. Bottleneck resource is usually identified by the resources that are either slower than it should or have an accumulation of work that they cannot process.
How to calculate the implied utilization of the bottleneck resource?
First, let's start to calculate based on three steps of making bread from-scratch
1. Mixing
Capacity = 170
Demand (made from scratch + demand for pre mixed) = 278
Mixing implied utilization = \(\frac{demand}{capacity}*100\)
= \(\frac{278}{170} * 100\)
= 163.53%
2. Baking
Capacity = 280
Demand (made from scratch + demand for pre mixed) = 278 + 203 = 481
Baking implied utilization = \(\frac{demand}{capacity}*100\)
= \(\frac{481}{280} * 100\)
= 171.79%
3. Packaging
Capacity = 275
Demand (made from scratch + demand for pre mixed) = 278 + 203 = 481
Packaging implied utilization = \(\frac{demand}{capacity}*100\)
= \(\frac{481}{275} * 100\)
= 174.91%
The bottleneck resource is the one with maximum / higher implied utilization. Therefore, the bottleneck is packaging.
Implied utilization of bottleneck resource (packaging) = 175%
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In trading account freight belongs to which side debit or credit?
Answer:
Explanation:
In trading account, freight belongs to the debit side. It is a direct expenses on purchases and manufacturing operation
Freight is the cost incurred in transporting an item to its final destination when the terms are FOB shipping point. It is treated as part of the cost of merchandise and recorded in the inventory if the merchandise has not been sold.
Increase in the cost of freight are recorded on the debit side while decrease are recorded on the credit side.
Why is it so hard to find essentials during times of crisis?
Answer:
because they are in high demand because so many other people want them
How education is medium to enhance the ability of human beings?