Selected year-end account balances from the adjusted trial balance as of December 31, 2022, for Riverbed Corp. is provided below. Credit Debit $78.410 28.400 14,260 229,820 98.390 Accounts Receivable Dividends Depreciation Expense Equipment Salaries and Wages Expense Accounts Payable Accumulated Depreciation-Equipment Unearned Rent Revenue Service Revenue Rent Revenue Rent Expense Retained Earnings Supplies Expense 557.240 123,980 24,730 198,500 6,700 3,890 66,740 1,510 (a) Prepare closing entries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 (To close revenue account) Dec. 31 (To close expense accounts) Dec 31 (To close net income to retained earnings) Dec. 31 (To close dividends to retained earnings) e Textbook and Media
Answers
To prepare the closing entries for Riverbed Corp. as of December 31, 2022, you should follow these steps:
1. Close revenue accounts to Income Summary:
Date: Dec. 31
Account Titles and Explanation: Debit - Service Revenue, Rent Revenue
Amount: 198,500 (Service Revenue), 24,730 (Rent Revenue)
Account Titles and Explanation: Credit - Income Summary
Amount: 223,230 (Total Revenues)
2. Close expense accounts to Income Summary:
Date: Dec. 31
Account Titles and Explanation: Debit - Income Summary
Amount: 197,950 (Total Expenses)
Account Titles and Explanation: Credit - Depreciation Expense, Salaries and Wages Expense, Rent Expense, Supplies Expense
Amount: 14,260 (Depreciation Expense), 98,390 (Salaries and Wages Expense), 6,700 (Rent Expense), 3,890 (Supplies Expense)
3. Close net income to Retained Earnings:
Date: Dec. 31
Account Titles and Explanation: Debit - Income Summary
Amount: 25,280 (Net Income, which is Total Revenues - Total Expenses)
Account Titles and Explanation: Credit - Retained Earnings
Amount: 25,280
4. Close dividends to Retained Earnings:
Date: Dec. 31
Account Titles and Explanation: Debit - Retained Earnings
Amount: 28,400 (Dividends)
Account Titles and Explanation: Credit - Dividends
Amount: 28,400.
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Related Questions
What is a survey
A. it is a set of questions used for gathering data.
B. it involves recording actions or events related to buying behavior.
C. It is a research method where the researchers assembles small group of people
D It is when only a portion of a population is researched
Answers
Answer:
A
Explanation:
it is a set of questions used for gathering data
what general environmental forces are currently affecting both the corporation and the industries in which it competes? which present current or future threats? opportunities?
Answers
The following 5 environmental factors have an impact on an organization:
industry rivalrythe possible risk posed by new competitors.Suppliers' power.power of the consumer.Threat of replacementsWhy do environmental factors influence how well a business structure performs?Environmental policy has an impact on businesses since it requires them to alter their equipment and operational procedures in order to comply with the legislation, which can be expensive for them.
What potential threats do you see?Events present dangers and opportunities outside of your company, in the larger market. Threats and opportunities can be taken advantage of, and you can put safety measures in place to avoid them, but they cannot be altered. Examples include rival businesses, the cost of raw materials, and customer purchasing preferences.
What dangers we face today will have an impact on the environment tomorrow?The biggest concern currently facing American wildlife, wilderness areas, and local populations is climate change. The consequences of a changing climate are already being felt by communities. We are assisting vulnerable populations in overcoming these obstacles.
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Regina, Brock, and Sean are website designers who have been tasked to create a new website together.
This is an example of:
alliance
collaboration
punctuality
relationship
Answers
Answer:
B: Collaboration
Explanation:
I took the test
Answer:
B: Collaboration
Explanation:
I took the test
Explain about the problem solving skill?
Answers
Answer:
Problem solving skills refers to our ability to solve problems in an effective and timely manner without any impediments. It involves being able to identify and define the problem, generating alternative solutions, evaluating and selecting the best alternative, and implementing the selected solution.
How do I get free Roux
Answers
Answer:
Robux?
Explanation:
To get free robux, there is a site called blox.land and you do certain things to earn robux and then you can withdraw them.
Several years ago, Jeff purchased stock for $5,125. Last month he sold the stock for
$7,411. What was his gross capital gain?
Answers
If Several years ago, Jeff purchased stock for $5,125. Last month he sold the stock for $7,411. His gross capital gain is: $2,286.
Gross capital gainIn order to determine the gross capital gain since we were told that he purchased stock for the amount of $5,125 in which last month he sold the stock for the amount of $7,411 we have to deduct the current stock selling price form the stock purchase price by making use of this formula to determine the gross capital gain.
Gross capital gain = Current stock selling price - Stock purchase price
Where:
Current stock selling price = $7,411
Stock purchase price = $5,125
Let plug in the formula so as to find the gross capital gain
Gross capital gain = $7,411 - $5,125
Gross capital gain =$2,286
Therefore If Several years ago, Jeff purchased stock for $5,125. Last month he sold the stock for $7,411. His gross capital gain is: $2,286.
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how does marmite use product differentiation
Answers
Marmite use product differentiation as viewed as having unique features, such as Marmite or the iPhone. It frequently referred to as a differentiator.
What do you mean by the product differentiation?
The feature or features that set your product or service apart from the competition for your target market are known as product differentiation.
It improves brand loyalty, sales, and growth by highlighting the differences between what you sell and what your rivals provide. These comprise vertical differentiation, mixed differentiation, and horizontal differentiation.
In the financial situation of today, product differentiation is crucial. It enables the seller to highlight the distinctive qualities that make their product outstanding by drawing comparisons between their own product and those of the market's rival products.
Therefore, Marmite use product differentiation as viewed as having unique features, such as Marmite or the iPhone. It frequently referred to as a differentiator.
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ok
On May 16, 20X1, Safeway Company received a 90-day, 9 percent, $8,000 interest-bearing note from Black Company in settlement of
Black's past-due account. On June 30, Safeway discounted this note at Fargo Bank and Trust. The bank charged a discount rate of 14
percent. On August 14, Safeway received a notice that Black had paid the note and the interest on the due date.
Required:
Prepare the entries in general journal form to record these transactions.
Analyze:
Answers
On the balance sheet, Notes Receivable-Discounted would be presented as an asset with a value of $7,840.
What is a balance sheet?Generally, May 16:
Debit: Notes Receivable $8,000
Credit: Accounts Receivable $8,000
June 30:
Debit: Discount on Notes Receivable $160
Credit: Cash $7,840
Credit: Notes Receivable-Discounted $160
August 14:
Debit: Interest Receivable $120
Debit: Cash $7,960
Credit: Notes Receivable-Discounted $8,000
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What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answers
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOU1. A parent company sells land to its wholly-owned subsidiary in 2015, reporting a gain of $35,000. In 2020, the subsidiary sells the land to an outside developer and reports a gain of $60,000. In the 2020 consolidation working paper, the elimination of this transaction will result in: A. A $35,000 decrease in beginning retained earnings B. A $60,000 increase in investment in subsidiary C. A $95,000 decrease in land D. A $35,000 increase in gain on sale of land
Answers
Answer:
Explanation:
A $60,000 increase in investment in subsidiary
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
An important cause of recessions is an unexpected negative supply shift, such as higher oil prices.
a. true
b. false
Answers
The statement "An important cause of recessions is an unexpected negative supply shift, such as higher oil prices" is true.
During an economic recession, there is a significant decline in economic activity, leading to a decrease in the production and consumption of goods and services.
One of the causes of recessions is an unexpected negative supply shift, which refers to a sudden decrease in the availability or increase in the cost of resources needed for production.
Higher oil prices can be a specific example of a negative supply shift.
When oil prices rise, it affects various sectors of the economy.
Transportation costs increase, making it more expensive to deliver goods and services.
This can lead to higher prices for consumers, resulting in a decrease in their purchasing power.
Industries that heavily rely on oil, such as manufacturing, may face higher production costs, leading to reduced output and potential job losses.
This negative supply shock can disrupt the overall economic equilibrium, leading to a contraction in economic activity and potentially causing a recession.
In summary, an unexpected negative supply shift, such as higher oil prices, can be a significant cause of recessions.
It impacts various sectors of the economy, affecting production costs, consumer prices, and overall economic activity.
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Explain how savers would respond if the interest rate on savings accounts increased. Would they increase or decrease their amount of savings? What about borrowers? Would they increase or decrease their amount of borrowing if the interest rate on loans increased? Explain why.
Answers
Answer:
1. Savers increase their savings as interest rate increases
2. Borrowers decrease their borrowing as interest rate on loans increases
Explanation:
1.
Interest rates are a great determinant of what those who save money get on their deposits. When interest rate increases, people tend to save more so as to earn more interest on their deposits. So it encourages savings. Therefore as interest rate increases savers would increase their amount of savings.
2.
For borrowers, more interest rate on loan amount discourages borrowing. More interest rate means that they would have to pay back more money on the loan amount they borrowed. This implies a rise in the cost of borrowing. So the borrower decreases the amount of borrowing if interest rate on loan increases.
What is interest rate?
Interest rate is an amount charged by a lender to a borrower for any form of debt given, generally expressed as a percentage of the principal.
Interest rate to savers
Higher interest rate encourages savings. When interest rate increases, people tend to save more so as to earn more interest on their deposits.
The above means that savers will increase their amount in savings if the interest rate on savings accounts increases.
Interest rate to borrowers
Higher interest rate discourages lenders from borrowing more. More interest rate means that they would have to pay back more money on the loan amount they borrowed.
It therefore means that borrowers will decrease the amounts of borrowing if the interest rate on loans increases.
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An auto dealership is advertising that a new car with a sticker price of $34,128 is on sale for $25,995 if payment is made in full, or it can be financed at 0% interest for 72 months with a monthly payment of $474. Note that 72 payments × $474 per payment = $34,128, which is the sticker price of the car. By allowing you to pay for the car in a series of payments (starting one month from now) rather than $25,995 now, the dealer is effectively loaning you $25,995. If you choose the 0% financing option, what is the effective interest rate that the auto dealership is earning on your loan? (Hint: Discount the payments back to current dollars, and use Goal Seek to find the discount rate that makes the net present value of the payments = $25,995.)
Answers
Answer:
effective annual rate = 9.77%
monthly rate = 0.78%
Explanation:
we can solve this by using a financial calculator or an excel spreadsheet:
our initial outlay = -25,995
then we have 72 cash flows = 474
I prefer to use excel, since all you need to do is use the IRR formula to determine the interest rate at which the NPV = 0. The interest rate at which NPV = 0 is the effective monthly interest rate. IRR = 0.78% monthly
In order to determine the effective annual rate:
EAR = (1 + 0.0078)¹² - 1 = 1.0977 - 1 = 0.0977 = 9.77%
3. ______ are defined as goods or services that are required for health and safety.
Answers
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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Managemnet is not only art and science but also a profession.Explain
Answers
Answer:
Art is wonderful art is beautiful are is mysterious art is so much more...
A firm has four different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the end of two years, and $10 million at the end of three years. Option B will give the firm $5 million at the end of one year, $10 million at the end of two years, and $15 million at the end of three years. Option C will give the firm $15 million at the end of one year, $10 million at the end of two years, and $5 million at the end of three years. Option D will give the firm $21 million at the end of one year, nothing at the end of two years, and $9 million at the end of three years. Which of these options has the highest present value if the rate of interest is 5 percent
Answers
Answer:
The answer is "Option D".
Explanation:
Using the formula for calculating present value:
\(= \frac{Future \ value}{(1+r)^n}\\\\\)
that's why "Option D" is correct.
Describe the philosophical differences between inspection, prevention, quality, quality control, statistical quality control, statistical process control, total quality management, and continuous improvement.
Answers
Explanation:
Consider the following differences in definitions of the terms:
Inspection is often defined as the act of finding defects in the already completed products.Prevention, on the other hand, is the process of preventing defects or errors in the products. One advantage of the prevention process over inspection is that errors are detected before the products are completed; leading to better product performance.Quality simply refers to the visible properties of the product. It can either be 'good quality' or 'bad quality' the product.Quality Control involves a detail step of inspection and product specifications in other to achieve the best quality in the mind of the customer.Statistical quality control (SQC), is a method used to monitor the quality of products produced so that they do not have variations in the quality of produced products.Statistical Process Control (SPC) on the other hand, is a method used to control how the production processes are done, in other to identify any defect in the product or service beforehand. By means of the SPC method, losses arising from a poor production process can be reduced.Total Quality Management (TQM) is a method that obligates the company to offer the best quality products or services to its customers.Continuous Improvement (CI) is concerned with continuous product and service improvement. Here, the company's top level management makes it a goal to constantly and continuously improve the production process.If the price of an Economics e-text was equal to $45.00 and the quantity sold was
equal to 125, then the total revenue would equal $3,625. True or False?
Answers
The total revenue is not equal to $3,625.
Given that,
The price of the economics e-text is equivalent to $45.The quantity sold is 125So, the following formula to be used for determining the total revenue:
= Price × quantity sold
= $45 × 125
= $5,625
Therefore we can conclude that the total revenue is not equal to $3,625.
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Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
What type of online channel is most relevant to the goal of helping consumers experience a product or service?
Answers
When it comes to helping consumers experience a product or service, the most relevant online channel is undoubtedly video content. Video has become the preferred method of consuming information online, and businesses that use video to showcase their products or services can create a more immersive experience for their audience.
With video, businesses can provide consumers with a more dynamic and engaging experience that allows them to see a product or service in action. Whether it's a product demo or a virtual tour of a service, video content can help consumers get a better understanding of what a business has to offer.
Furthermore, video content can be easily shared across various online platforms, from social media to email marketing, allowing businesses to reach a wider audience and attract new customers.
In conclusion, video content is the most relevant online channel for helping consumers experience a product or service, as it provides an immersive and engaging experience that can help businesses stand out in a crowded marketplace.
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education opens the door to employment.
Answers
Answer:
yes education opens the door to employment as Education give us a new identity and talent which people are looking for the employment. Education can lead to success and employement.
What are the approaches for learning Economics effectively?
Answers
Which figure (amount) should be larger?
A. Expenses
B. income
C. Extras
D. Needs
Answers
Income
WHY:
The expenses and extras and needs should all add up to the income and the income should be over these expenses
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St. Margaret Beer Co. is looking at investing in a production facility that will require an initial investment of $500,000. The facility will have a three-year useful life, and it will not have any salvage value at the end of the project’s life. If demand is strong, the facility will be able to generate annual cash flows of $260,000, but if demand turns out to be weak, the facility will generate annual cash flows of only $130,000. St. Margaret Beer Co. thinks that there is a 50% chance that demand will be strong and a 50% chance that demand will be weak. If the company uses a project cost of capital of 11%, what will be the expected net present value (NPV) of this project?
a. -$19,954
b. -$15,259
c. -$16,432
d. -$23,476
Answers
The correct option is (c) -$16,432. Given, Initial Investment = $500,000Useful life = 3 yearsNo salvage value Demand is strong, Annual Cash Flow = $260,000Demand is weak, Annual Cash Flow = $130,000Chance of Strong Demand = 50%Chance of Weak Demand = 50%Cost of capital = 11%.
Expected Net Present Value (NPV) can be calculated as follows: Expected Annual Cash Flow = (0.5 x $260,000) + (0.5 x $130,000) = $195,000Year 1:NPV = (195,000/(1+11%)¹) - 500,000NPV = - $301,770.70Year 2:NPV = (195,000/(1+11%)²)NPV = - $266,645.73Year 3:NPV = (195,000/(1+11%)³).
NPV = - $234,601.02Expected NPV = Year 1 + Year 2 + Year 3 = -$301,770.70 - $266,645.73 - $234,601.02 = -$16,432So, the expected net present value (NPV) of this project is -$16,432.
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which two are among the most common advertising appeals? fear sex humor
Answers
The two most common advertising appeals among fear, sex, and humor are fear and humor. These appeals are often used to capture attention and create a memorable impression of the product or service being advertised. To use these appeals effectively:
1. Identify your target audience: Determine who your ad is trying to reach and choose the appeal that would resonate with them most effectively.
2. Develop a creative concept: Craft a unique and engaging idea that incorporates the chosen appeal and communicates the message of your brand.
3. Create a compelling message: Write a clear and persuasive copy that utilizes the appeal to convey the benefits of your product or service.
4. Design impactful visuals: Use imagery that supports the appeal and message, while also capturing attention and evoking emotion.
5. Evaluate and refine: Test the ad's effectiveness with your target audience, and make any necessary adjustments to improve its impact.
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Answers
Answer:
With wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwhhhhhhhhhhhhhhhhhhhhhhhhhhhaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaattttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttttt
Explanation:
According to Trompenaars, cultures like the United States, in which people value their private lives and keep their private and work lives separate, are __________ cultures
Diffuse
Neutral
Affective
Specific
Answers
According to Trompenaars, cultures like the United States, in which people value their private lives and keep their private and work lives separate, are considered "specific" cultures. In specific cultures, individuals tend to value their individuality and independence, and they often prioritize personal achievements over group goals.
These cultures value clear and direct communication, and they tend to be more task-oriented than relationship-oriented. In specific cultures, work relationships are often based on contractual agreements, and colleagues tend to interact more formally with one another. The concept of privacy is also highly valued in specific cultures, with individuals guarding their personal information closely. Overall, specific cultures prioritize autonomy and individualism, and they tend to have a lower tolerance for ambiguity and uncertainty than other types of cultures.
Hi! According to Trompenaars, cultures like the United States, in which people value their private lives and keep their private and work lives separate, are individualistic cultures. In individualistic cultures, personal autonomy and self-expression are highly valued. People focus on their personal goals and needs, and they prioritize their own interests over the interests of the group. This is in contrast to collectivist cultures, where people prioritize group harmony, interdependence, and shared responsibility. In collectivist cultures, individuals may be more willing to sacrifice their personal interests for the well-being of the group. The United States is a prime example of an individualistic culture, where people maintain distinct boundaries between their work and private lives, emphasizing individual achievements and personal success.
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Which are examples of copyrighted online materials? Check all that apply.
an article from an Internet magazine
lyrics for a song written in the 1800s
photos taken by a student on his blog
a video game that is free for anyone to copy
an illustration sold by an artist on her website
an excerpt from a novel published in 1913
Answers
Answer:
a and d
Explanation:
Answer:
A & E
Explanation:
edge test
Why is it important for insurance companies to have a large pool of people paying premiums?
Answers
Answer:
The premium payments of all the insured clients will cover the costs for the emergencies of the few who need it. The more people that pay premiums, the less likely each insured client will experience an emergency.
It is important for insurance companies to have a large number of people paying premiums in order to have the higher costs than the needy would have to be offset by the lower costs of the less needy.
If a risk pool is larger than it is, it is very helpful because it would make the premiums to be more stable as well as to be more predictable.
Pooling is very beneficial due to the fact that the cost of health care could be high and they could lead to significant costs. Risk pooling would help to ensure that those that are in need would be able to afford it when necessary.
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