The "first day of the first period for which an amount is received as an annuity" is known as the contract's (c) annuity starting date.
The annuity starting date is the first day that payments are made from an annuity contract. It is important to know your annuity starting date because it will determine how much of your payments are taxable and how much is tax-free.
The liquidation date is the date on which an annuity contract is terminated and all payments are made. The index date is the date on which an index is used to calculate the value of an annuity contract. The exclusion ratio date is the date on which the exclusion ratio for an annuity contract is determined.
Here is a brief explanation of each of these terms:
Annuity starting date: The first day that payments are made from an annuity contract.Liquidation date: The date on which an annuity contract is terminated and all payments are made.Index date: The date on which an index is used to calculate the value of an annuity contract.Exclusion ratio date: The date on which the exclusion ratio for an annuity contract is determined.The exclusion ratio is a percentage of your annuity payments that are not taxable. The exclusion ratio is determined by dividing the amount of money you paid for your annuity contract by the number of years you expect to receive payments.
For example, if you paid $100,000 for an annuity contract and you expect to receive payments for 20 years, your exclusion ratio would be 5%. This means that 5% of your annuity payments would be tax-free. The remaining 95% of your payments would be taxable.
It is important to note that the exclusion ratio is only a guideline. The actual amount of your annuity payments that are taxable may be different depending on your individual circumstances.
Therefore option (c) annuity starting date is the correct answer.
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With reference to theories of growth, discuss the implications of capital accumulation and technological progress for a country’s long-run economic growth.
Capital accumulation and technological progress are two crucial factors that significantly impact a country's long-run economic growth, as explained by various theories of growth.
Capital Accumulation:
Capital accumulation refers to the increase in physical and human capital stock within an economy. It involves investing in productive assets, such as infrastructure, machinery, and education, which enhance productivity and output levels. The implications of capital accumulation for long-run economic growth are as follows:
1) Increased Production Capacity: Capital accumulation allows a country to expand its production capacity, leading to higher levels of output and economic growth. More capital means more tools, equipment, and technology available to workers, enabling them to produce more efficiently.
2) Enhanced Labor Productivity: Adequate capital accumulation leads to improved labor productivity. Workers with access to modern machinery and technology can produce more output per unit of time, increasing overall economic efficiency and growth.
3) Diminishing Returns: However, it is important to note that the impact of capital accumulation on economic growth is subject to diminishing returns. Initially, the addition of capital leads to significant productivity gains, but as the capital stock increases, the marginal returns diminish. This underscores the importance of technological progress as a complementary factor.
Technological Progress:
Technological progress refers to advancements and innovations that lead to improved production methods, new products, or increased efficiency. It can occur through research and development, knowledge accumulation, and the adoption of new technologies. The implications of technological progress for long-run economic growth are as follows:
1) Productivity Growth: Technological progress is a key driver of productivity growth. New technologies and innovations enable more efficient production processes, which increase output levels without requiring a corresponding increase in inputs. This sustained productivity growth contributes to long-run economic growth.
2) Structural Change: Technological progress often leads to structural changes in an economy. Industries and sectors that embrace technological advancements tend to experience higher growth rates, while those resistant to change may face challenges. Technological progress can drive economic transformation and the emergence of new industries, fostering overall growth.
3) Spillover Effects: Technological progress often has positive spillover effects throughout the economy. When one firm or industry adopts new technologies, it can lead to knowledge diffusion, knowledge spillovers, and subsequent productivity gains in related sectors. This amplifies the impact of technological progress on overall economic growth.
In conclusion, both capital accumulation and technological progress play vital roles in a country's long-run economic growth. Capital accumulation increases production capacity and labor productivity, but its impact diminishes over time. Technological progress, on the other hand, drives sustained productivity growth, structural change, and spillover effects, enabling economies to achieve higher levels of growth and development.
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Why are wages and salaries generally determined by the market for labor?
A. The forces of supply and demand are more powerful than any government regulation.
B. Other than minimum wage, the government does not determine pay for various jobs.
C. Business firms are suppliers and workers are demanders in the market for labor.
D. The market for labor is the same as the product market, so prices and wages match.
Option B. Wages and salaries generally are determined by the market for labor because other than minimum wage, the government does not pay for various jobs.
What is a minimum wage?The minimal amount of compensation that an employer is compelled to pay wage earners for jobs completed during a particular period and which cannot be reduced by a collective agreement or an individual contract is known as a minimum wage.
This definition alludes to the fact that minimum wages are legally binding regardless of how they are set. A minimum wage can be established by law, a competent authority's judgment, a wage board, a wage council, or by labor or industrial courts or tribunals. By making the terms of collective agreements enforceable by law, minimum salaries can also be determined.
The goal of minimum wages is to shield employees from unfairly low pay. They aid in ensuring a fair and equal distribution of the benefits of growth.
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Answer:
b
Explanation:
took test
FIRST ANSWER GETS BRAINLIEST!!!!!!!
Bob has decided to start Investing. After dong his research, he has decided he wants to Invest in a safe Invest with guaranteed return. He Is going to buy
Shares
Mutual funds
Bonds
Answer:
bonds
Explanation:
PRO and CONS Airbnb?
Pros and Cons of staying in an Airbnb
Pros:
Larger than staying in a hotel
Less crowded
Less expensive
Cons:
The host is less trustworthy than workers at hotels for various reasons
Could be cameras in places like bathrooms or rooms to watch you
You probably will have to eat out
What is the most important part of the product development process and why?
It is one of the most crucial phases of product development and calls for the generation of an idea (or ideas) that will enable you to come up with a novel solution to an ongoing client issue.
What is the most crucial stage of product development?Any new development must have the primary goal of giving the consumer new value. They wouldn't be forced to exchange their money for the new technology if this didn't happen. But if it offers an unusually high value, customers will swarm to a product or service.
Which phases of a product's development are crucial, and why?The steps of the product development process are ideation, research, planning, prototype, sourcing, costing, and commercialization, however they vary depending on the industry.
What step in the process of product management is the most important?Since one of the most important components of a successful product is marketing, product managers collaborate with product marketing managers. This include carrying out market research, monitoring new company trends, collecting and analyzing client feedback, fixing prices, and coming up with a marketing strategy.
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Broussard Skateboard's sales are expected to increase by 15% from $8.6 million in 2019 to $9.89 million in 2020. Its assets totaled $3 million at the end of 2019. Broussard is already at full capacity, so its assets must grow at the same rate as projected sales. At the end of 2019, current liabilities were $1.4 million, consisting of $450,000 of accounts payable, $500,000 of notes payable, and $450,000 of accruals. The after-tax profit margin is forecasted to be 4%, and the forecasted payout ratio is 60%. Use the AFN equation to forecast Broussard's additional funds needed for the coming year. Enter your answer in dollars. For example, an answer of $1.2 million should be entered as $1,200,000. Do not round intermediate calculations. Round your answer to the nearest dollar.
The Additional Funding requirement (AFN) will be $743,240.
Additional funding needed for next year [AFN]
Next year's expected sales = $9,890,000
Profit margin after tax
Profit margin after tax = next year's expected sales × profit margin
= $9,890,000 × 4.00%
= $395,600
Dividend pay-out
Dividend pay-out = after tax profit margin × dividend payout ratio
= $395,600 × 60%
= $237,360
Add to retained earnings
Additions to retained earnings = profit margin after tax - dividend pay-out
= $395,600 - $237,360
= $158,240
Increase in total assets
Increase in total assets = Total assets × percentage increase in sales
= $3,000,000 × 15%
= $450,000
Increase in spontaneous responsibilities
Increase in accrued liabilities = [accounts payable + accruals] × percentage increase in sales
= [$450,000 + $450,000] × 15%
= $900,000 × 15%
= $135,000
Additional Funding Needed [AFN]
Therefore, Additional Funds Needed [AFN] = Increase in total assets - Increase in outstanding liabilities - add in retained earnings
= $450,000 - $135,000 - $158,240
= $743,240
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PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Jake has a taco truck but has recently expressed a desire to take more time off. He hires Emmy to cover the truck three days a week. Emmy is an example of which economic resource?
capital
labor
entrepreneurial ability
Answer:
I think labor, most likely, I t definitely do not think it is capitol
please please.pleas help me
What are the advantages and disadvantages of consulting
NO LINKS!!!
Answer:
Advantages of Being a Consultant:
You can learn many skills
Consulting allows you to build a powerful network
You get responsible tasks from the beginning
Perfect if you like to travel
You learn to work with the latest technologies
You can work in project teams
Consulting allows you to see many new things
You can work with many clients
Continuous training
You can work with other motivated people in consulting
Consulting teams support each other
You work on demanding projects
Good for your CV
You learn how to deal with stress
Consultants can earn pretty good money
Great exit options
You can work on many projects
Consulting never gets boring
Explanation:
Disadvantages of Being a Consultant:
Pressure in consulting can be high
Strict deadlines are a problem
You will be pushed to your boundaries
Consulting can imply working long hours
You may be away from home during the week
Being a consultant can be lonely
Some people develop mental issues
No real work-life balance
Problematic in case you have children
You have to represent the company
Many of your colleagues will leave
Insecurity regarding what comes next
Great swings in workload
Unsatisfying outcomes
Success greatly depends on the project manager
Explain how a problem-solving strategy is similar to deductive reasoning.
Answer:Simmetry
Explanation: it is always directly proportional with the answer. I s all about cause and effect!
Which of the following best describes the findings of academic studies into performance persistence in hedge funds? A. There appears to be a higher degree of persistence for losers than for winners & less evidence of long run persistence than short run persistence. B. There appears to be a higher degree of persistence for winners than for losers & more evidence of long run persistence than short run persistence. C. There is strong evidence of performance persistence for both winners & losers in both the short & long run. D. There is no evidence at all of performance persistence
A. There appears to be a higher degree of persistence for losers than for winners and less evidence of long-run persistence than short-run persistence.
Academic studies on performance persistence in hedge funds suggest that there is a higher likelihood of underperforming funds (losers) continuing to underperform in the future, indicating persistence among losers. However, there is less evidence of long-term persistence, meaning that past winners are less likely to consistently outperform in the future. Additionally, short-term persistence is found to be more prevalent than long-term persistence in hedge fund performance.
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A resource will have idle time when it comes ______ the bottleneck in the process.
A resource will have idle time when it comes after the bottleneck in the process. Thus, correct option is (b).
After a resource has passed through the bottleneck in a process, it experiences what is known as idle time, which is a period of inactivity. The stage or resource that restricts the process's overall throughput is known as a bottleneck. The resource enters a phase when it is waiting for the future stages or resources to finish their jobs once it has successfully gone through the bottleneck.
The resource is idle during this waiting phase since it is unable to advance until the other stages are caught up. To maximize process efficiency and throughput, idle time must be identified and managed because doing so reveals possible areas for improvement and resource allocation.
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The given question is incomplete, complete question is- "A resource will have idle time when it comes ______ the bottleneck in the process."
a. before
b. after
QUESTION: Identify an example of the change in relative prices of two products.
pls help T o T
Answer: First lets start off with relative change. Relative changes shows the change of a value of an indicator in the first period and in percentage terms, ext. Relative change is calculated by subtracting the value of the indicator in the first period from the value of the indicator in the second period which is then divided by the value of the indicator in the first period and the result is taken out in percentage terms. The formula for relative change is very simple, and it is derived by initially deducting the initial value of the variable from the final value, then dividing the result by the initial value, and then finally multiplying by 100% to express in terms of percentage. Also
Explanation:
A small example in relative prices is In apple season, apples cost half as much as oranges. In orange season, oranges cost half as much as apples. Also to understand better, either market forces or government intervention, the relative price of goods and services does impact the allocation of resources used to produce these goods and services. A relative price is the price of one good compared to another. Resource allocation addresses how land, capital, and labor are spent in the production of goods and services. Since we went over that relative price is the price of something compared to something else. In other words, it is the ratio of two prices. Completely logical people will make purchasing decisions by considering the relative prices of their options. We can conclude that gas is $2.76 compared to the $3.02 of diesel . Now the gas is $0.26 cents cheaper than diesel. This is caused by the price to refine diesel compared to gas. Now that we have two simple example to show the basis of relative prices, you can clearly see the mean and definition of relative prices through the examples shown!
large economies of scale required to be profitable ii. established brand loyalty iii. patent protection for the firm's product iv. rapid industry growth
The following are the barriers to entry are large economies of scale required to be profitable, established brand loyalty and patent protection for firm's product.
What is brand loyalty?In marketing, brand loyalty refers to a customer's favorable opinions of a brand and their resolve to consistently use its products and/or services, despite any shortcomings, rivalry-related acts, or alterations in the environment. It can also be shown through other actions, including good word-of-mouth promotion. When a customer chooses to purchase goods from a certain manufacturer over other vendors, they are exhibiting corporate brand loyalty. It is important to distinguish between loyalty, which demands dedication, and habit, which involves less emotional connection and commitment. The loyalty business model is used by companies whose moral obligations (such as ESG responsibilities) are largely dependent on customer brand loyalty.
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what is the cost allocation method called that is used for natural resources?
Answer:
The process of allocating the cost of plant and equipment over the periods they are used to produce revenues is known as depreciation. For natural resources, this process is called depletion, and for intangible assets it is called amortization.
Explanation:
An investor purchases a stock with a beta of 1.25. Over the course of the previous year, the market had returns of 6%, while the stock had returns of 10%. Assuming the market has a beta of 1.0, what is the alpha of the stock?
Answer:
2.5%
Explanation:
Calculation for what is the alpha of the stock
Using this formula
Alpha of the stock= Realized Return - (Market Return *Beta)
Let plug in the formula
Alpha of the stock= 10% - (6% * 1.25)
Alpha of the stock= 0.10 - (0.06 * 1.25)
Alpha of the stock= 0.10 - 0.075
Alpha of the stock= 0.025 *100
Alpha of the stock=2.5%
Therefore the alpha of the stock will be 2.5%
higgins enterprises is accepting notes receivable from four customers for $18,000 each. which customer will end up paying the least in interest, assuming all individuals pay in full on the maturity date?
Answer:
328.5
Explanation:
18000*annual interest rate*days/360
18000*7.3%*90/360 = 328.5
Based on the amount accepted as notes receivables and the interest rates, the individual that will pay the least interest is Individual 3.
Individual 1: Individual 2:
= Amount x Interest x Period / year = 18,000 x 5.98% x 1 year
= 18,000 x 6.75% x 4/12 months = $1,076.40
= $405
Individual 3: Individual 4:
= 18,000 x 7.3% x 90/365 days = 18,000 x 7.15% x 8/12 months
= $324 = $858
In conclusion, Individual 3 will pay the least interest.
The customers in question are:
A. Individual 1 has an annual interest rate of 6.75% and a maturity date of four months.
B Individual 2 has an annual interest rate of 5.98% and a maturity date of one year.
C Individual 3 has an annual interest rate of 7.3% and a maturity date of 90 days.
D. Individual 4 has an annual interest rate of 7.15% and a maturity date of eight months.
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a merchant buys an old carpet for $25.00. he spends $15.00 to have it restored to good condition and then sells the rug for $50. what is the percent profit on his total investment?
The merchant bought an old carpet for $25.00, spent $15.00 to have it restored, and then sold it for $50. To find the percent profit on his total investment, we need to calculate the profit and express it as a percentage of the total investment.
First, let's calculate the profit. The merchant bought the carpet for $25.00 and spent an additional $15.00 to have it restored,the percent profit on the merchant's total investment is 25%.
$25.00 + $15.00 = $40.00. He then sold the carpet for $50.00.
To find the profit, we subtract the total cost from the selling price:
$50.00 - $40.00 = $10.00.
Next, let's calculate the percent profit on the total investment. The profit is $10.00 and the total investment was $40.00.
To find the percent profit, we divide the profit by the total investment and multiply by 100:
($10.00 / $40.00) x 100
= 25%.
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Demarco and Tanya have received information about three separate mortgage offers. In two or three paragraphs, describe your recommendation for the best financial choice in their situation.
Answer: first one
As for Mortgage Option 3, not only is the interest rate higher (4.0%), but the remaining balance that is not paid has to be paid off completely in 8 years. After the down payment, they would have a $1,605 monthly payment which includes the fixed interest rate of 4.25% as well. Due to the short payment time, a borrower has a risk of loosing their home and equity if the final payment is not able to be made. Mortgage Option 2 has the lowest interest rate (3.5%) but these rates could be adjusted annually. Even though the interest rate is the highest, they would be able to afford it. Not only are they able to make these payments, Tanya and Demarco would also have. approximately $3,395 left to spend from their monthly earnings too.
Explanation:
credit to mohammedalm2
A pillow is a raw material?
True
O False
False, a pillow is not a raw material. However, it's made of raw materials like:
- polyester
- linen
- satin
- silk
- etc....
How can migrating to an enterprise platform solution help a business improve employee productivity according to brainly in?
Migrating to an enterprise platform sol-ution help a business imp-rove employee product-ivity by allow-ing all employees to access and sha-re the same stored data fast-er.
Project frame-works are a collection of inter-connected software systems with a variety of capa-bilities and the ability to use com-mon data. By sav-ing represent-atives time to focus on import-ant busi-ness duties, the process can be ea-sier.
If the data is sha-red it will be a great deal of time and avo-ids manual mistakes. The inform-ation is access-ible at any mo-ment since it is saved on-line. It bo-osts the over-all effective-ness of the personnel data-base administration proce-dure. Further switch-ing to such an arrange-ment helps an organisation increase work-er efficiency.
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Prepaid expenses require what type of adjusting entry? Question options: Matched Accumulated Accrued Deferral
Answer:
deferral
Explanation:
Adjusting entries are when changes are made to already recorded journal entries.
Categories of adjusting entries :
accrued revenuesaccrued expensesunearned revenuesprepaid expensesdepreciation.Prepaid expenses are payments made for services yet to be delivered.
For example, paying for a year's worth of subscription on your streaming service
Prepaid expenses is an example of deferred payment, so the adjustment should be a deferral
A journal entry that debits Work in process and Manufacturing overhead and credits Raw materials records the ______.A. issuance of materialsB. work in processC. purchase of materialsD. accounts payable
The answer is option D. accounts payable. A journal entry that debits Work in process and Manufacturing overhead and credits Raw materials records the Accounts payable.
How much does the overhead cost?Costs associated with running a firm that are not directly tied to the creation of goods or services. Rent, utilities, insurance, legal fees, office supplies, advertising, payroll, and accounting expenses are a few examples of overhead expenditures.
What are some instances of overhead expenses?Rent and utilities, business permits, accounting fees, advertising charges, and payroll are all examples of overhead costs. While direct expenses, such those for raw materials or packaging supplies, are directly tied to the good or service you offer, these prices are rather predictable and stable.
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Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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If you are interviewed by more than one person, you should send a thank-you note to _____.
each person in the interview
each person you see in the building
the first person you are introduced to
the person who is obviously leading the interview
Answer:
option A is correct.
i.e.
each person in the interview.
Explanation:
Because thank-you letter provides a simple but effective way to express gratitude to all the individuals you met with.
Suppose the market price of chicken wings in a university town recently increased. Economics students studying at the university are discussing potential causes of the price increase. One group of students theorize that the price increased because several wing joints in the area have recently gone out of business. Others claim the increase in the price of chicken wings is because of a recent decrease in the price of beer.
Everyone agrees that the decrease in the price of beer was caused by a recent decrease in the price of hops, which are not generally used in making chicken wings.
The first group of students claim the increase in the price of chicken wings can be attributed to the fact that several wing joints in the area have recently gone out of business.
This may explain the price increase, as the decreased competition in the economics market could lead to an increase in price.
What is economics market?Economics market is an environment where buyers and sellers interact in order to exchange goods and services for money. It is the basis for the study of economics, which is the study of the production, distribution, and consumption of goods and services. Markets can be divided into different types depending on the nature of the product or service being exchanged. The two primary types of markets are the perfect competition market and the imperfect competition market. Perfect competition markets are those in which all buyers and sellers are equal and have access to the same information.
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discuss how companies can react to the marketing environment
The marketing environment refers to the external factors that affect a company's ability to market and sell its products or services. These external factors include economic, social, technological, political, and legal factors, as well as competition from other companies in the same industry.
Companies need to be able to react to the marketing environment in order to succeed in their industry. Here are some ways that companies can react to the marketing environment:
Market research: One of the most important ways that companies can react to the marketing environment is by conducting market research. This involves gathering information about customers, competitors, and the overall market. By understanding the marketing environment, companies can make informed decisions about how to position their products or services in the market and how to target their marketing efforts.Product innovation: Companies can also react to the marketing environment by developing new products or services that are more in line with the changing needs and preferences of consumers. For example, a company might introduce a new product that is more eco-friendly, in response to increased concern about the environment among consumers.Adaptation of marketing strategy: Companies can also adapt their marketing strategy to the changing marketing environment. For example, they might change the channels through which they reach customers, or adjust their pricing strategy in response to changing economic conditions.Partnership and collaboration: Companies can also collaborate with other organizations to adapt to the marketing environment. This might involve partnerships with other companies to offer complementary products or services, or working with organizations that are involved in promoting certain social or environmental causes.Continuous improvement: Finally, companies need to continuously improve their products and services in response to the marketing environment. This might involve improving the quality of their products, or offering better customer service to differentiate themselves from competitors.To know more about marketing refer to-
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what is the purpose of the health insurance portability and accountability ac?
The Health Insurance Portability and Accountability Act (HIPAA) is a federal law that was enacted in 1996 with the purpose of protecting patients' healthcare information privacy and security.
It was designed to improve the efficiency and effectiveness of the healthcare system by creating national standards for electronic healthcare transactions and privacy protections for individual health information.
HIPAA has two main objectives: portability and accountability. Portability refers to the ability of individuals to keep their health insurance coverage when they change jobs or health plans, regardless of pre-existing conditions. This means that individuals are no longer tied to a specific employer for healthcare coverage.
Accountability refers to the responsibility of healthcare providers, insurance companies, and other entities that handle health information to safeguard patient data and maintain privacy.
HIPAA has helped to establish standards for the handling and storage of electronic health information, ensuring that patient data is secure and private. The law requires healthcare providers and insurance companies to use standardized codes for billing and other transactions, making it easier to track and monitor healthcare costs.
Overall, HIPAA has played a critical role in improving the healthcare system by promoting efficiency, protecting patient privacy and security, and ensuring accountability among healthcare providers and insurance companies.
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Business transactions completed by Hannah Venedict during the month of September are as follows.
a. Venedict invested $60,000 cash along with office equipment valued at $25,000 in exchange for common stock of a new company named HV Consulting.
b. The company purchased land valued at $40,000 and a building valued at $160,000. The purchase is paid with $30,000 cash and a long-term note payable for $170,000.
c. The company purchased $2,000 of office supplies on credit.
d. Venedict invested her personal automobile in the company in exchange for more common stock. The automobile has a value of $16,500 and is to be used exclusively in the business.
e. The company purchased $5,600 of additional office equipment on credit.
f. The company paid $1,800 cash salary to an assistant.
g. The company provided services to a client and collected $8,000 cash.
h. The company paid $635 cash for this month’s utilities.
i. The company paid $2,000 cash to settle the account payable created in transaction c.
j. The company purchased $20,300 of new office equipment by paying $20,300 cash.
k. The company completed $6,250 of services for a client, who must pay within 30 days.
l. The company paid $1,800 cash salary to an assistant.
m. The company received $4,000 cash in partial payment on the receivable created in transaction k.
n. The company paid $2,800 cash in dividends.
Required
1. Prepare general journal entries to record these transactions (use account titles listed in part 2).
2. Open the following ledger accounts—their account numbers are in parentheses (use the balance column format): Cash (101); Accounts Receivable (106); Office Supplies (108); Office Equipment (163); Automobiles (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Fees Earned (402); Salaries Expense (601); and Utilities Expense (602). Post the journal entries from part 1 to the ledger accounts and enter the balance after each posting.
3. Prepare a trial balance as of the end of September
Here are the journal entries for the transactions and the resulting trial balance:
Journal Entries:
a. Debit: Cash $60,000; Credit: Common Stock $60,000
b. Debit: Land $40,000; Debit: Building $160,000; Credit: Cash $30,000; Credit: Notes Payable $170,000
c. Debit: Office Supplies $2,000; Credit: Accounts Payable $2,000
d. Debit: Automobiles $16,500; Credit: Common Stock $16,500
e. Debit: Office Equipment $5,600; Credit: Accounts Payable $5,600
f. Debit: Salaries Expense $1,800; Credit: Cash $1,800
g. Debit: Cash $8,000; Credit: Fees Earned $8,000
h. Debit: Utilities Expense $635; Credit: Cash $635
i. Debit: Accounts Payable $2,000; Credit: Cash $2,000
j. Debit: Office Equipment $20,300; Credit: Cash $20,300
k. Debit: Accounts Receivable $6,250; Credit: Fees Earned $6,250
l. Debit: Salaries Expense $1,800; Credit: Cash $1,800
m. Debit: Cash $4,000; Credit: Accounts Receivable $4,000
n. Debit: Dividends $2,800; Credit: Cash $2,800
Trial Balance:
Cash: $57,965; Accounts Receivable: $6,250; Office Supplies: $1,000; Office Equipment: $52,900; Automobiles: $16,500; Building: $160,000; Land: $40,000; Accounts Payable: $3,600; Notes Payable: $170,000; Common Stock: $76,500; Dividends: $2,800; Fees Earned: $14,250; Salaries Expense: $3,600; Utilities Expense: $635.
The journal entries record the specific financial transactions, including investments, purchases, payments, and revenues, made by Hannah Venedict's company, HV Consulting, in September. These transactions are then posted to their respective ledger accounts, such as Cash, Accounts Receivable, Office Supplies, and so on. Each ledger account shows the debits and credits associated with the transactions and their resulting balances.
The trial balance is a summary of all the ledger account balances, presenting a snapshot of the company's financial position at the end of September. It ensures that the debits equal the credits and helps in preparing financial statements. In this case, the trial balance reveals the balances of various accounts, such as cash, receivables, payables, and equity accounts like common stock and dividends.
Overall, the journal entries, ledger accounts, and trial balance provide a comprehensive overview of the financial transactions and the resulting account balances for HV Consulting in September.
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Which of the following is an example of a B2B internet service?
A. Online planning
B. Travel support
C. Online shopping
D. Gaming platform
Answer:
gaming platform
Explanation
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The example of a B2B Internet service is the online shopping. Option C is correct.
What is B2B internet service?It is the type of electronic commerce. B2B means the Business to Business service. It involves the exchange of goods, services and the information between the business.
The online shopping is the good example of B2B internet service, because it involved the exchange of goods.
Therefore, option C is correct.
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Toronto Corporation's financial statements include the following information: Cash $ 6,100 Net Credit Sales $315,000 Accounts receivable 52,000 Cost of Goods Sold 210,000 Merchandise inventory 92,800 Net Income $ 56,000 Prepaid Expenses 12,600 Total Current Assets $163,500 Total Current Liabilities $ 65,400 Total Stockholders' Equity $200,000 Assuming that 50,000 shares of common stock were outstanding, and the company had no preferred stock outstanding. What is the Earnings per Share (EPS) for Toronto Company: $6.30 $1.12 $4.00 $3.27
Answer:
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Explanation:
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