The following information is available for Sage Hill Corporation for the year ended December 31, 2022.
Beginning cash balance $43,000
Accounts payable decrease 3,500
Depreciation expense 75,000
Accounts receivable increase 8,700
Inventory increase 12,100
Net income 337,000
Cash received for sale of land at book value 43,000
Sales revenue 740,000
Cash dividends paid 11,800
Income tax payable increase 4,400
Cash used to purchase building 145,000
Cash used to purchase treasury stock 33,900
Cash received from issuing bonds 258,000
Required:
1. Prepare a statement of cash flows using the Indirect method. (Show amounts that decrease cash flow with either a - sign e.g.-15,000 or in parenthesis e.g. (15,000).)

Answers

Answer 1

Answer:

Statement of cash flows for the year ended December 31, 2022

Cash flow from Operating Activities

Net income                                                                      337,000

Adjustment for Non - Cash Items :

Depreciation expense                                                      75,000

Adjustment for Working Capital Items :

Accounts payable decrease                                             (3,500)

Accounts receivable increase                                           (8,700)

Inventory increase                                                             (12,100)

Income tax payable increase                                              4,400

Net Cash from Operating Activities                                392,100

Cash flow from Investing Activities

Cash received for sale of land at book value                 43,000

Cash used to purchase building                                   (145,000)

Net Cash from Investing Activities                                (102,000)

Cash flow from Financing  Activities

Cash dividends paid                                                         (11,800)

Cash used to purchase treasury stock                          (33,900)

Cash received from issuing bonds                                258,000

Net Cash from Financing Activities                                212,300

Movement During the year                                             502,400

Cash and Cash Equivalents at Beginning of the year    43,000

Cash and Cash Equivalents at End of the year             545,400

Explanation:

Prepare the Cash flow Statement under the following headings :

Cash flow from Operating ActivitiesCash flow from Investing ActivitiesCash flow from Financing Activities

Related Questions

Since you are selling friendship bracelets online, the Internet service provider (ISP) is your agent.
True
False

Answers

Answer:

false

Explanation:

the internet service provider is a service for internet not an agency

Answer:

true on edgin

Explanation:

6-18. What could be driving the tremendous growth in Salesforce.com’s stock price and revenue? Why do you think investors put such a high premium on Salesforce.com’s stock?
and
6-17. Why did tech giants like SAP, Oracle, Microsoft, and IBM miss the opportunity to produce a SaaS CRM like Salesforce.com? What might keep large tech companies from identifying potential opportunities like Salesforce.com?

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Answer: yea that it

Explanation:

Between the Big-5 Personality Traits and Self-efficacy, particularly with agreeableness, this showed either a _____________________________ negative correlation with self-efficacy.

Answers

Between the Big-5 Personality Traits and Self-efficacy, particularly with agreeableness, this showed either belief that ones' attempts to accomplish a specific task will be successful or negative correlation with self-efficacy.

What is Big Five personality?

In psychology, the 5 broad personality traits as described by the theory includes extraversion agreeableness, openness, conscientiousness, and neuroticism. When the factor analysis are applied to personality data, it reveals that some words used to describe aspects of personality are often applied to the same person.

For example, someone that is described as conscientious is more likely to be described as "always prepared" rather than been "messy". Hence, its suggest that 5 broad dimensions used in common language to describe the human personality, temperament and psyche.

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We have a graduated tax system, and the tax brackets are listed in Appendix A. If you are not familiar with the Fair Tax and Flat Tax ideas, do a little research. Share what you think would be best for our country.

Answers

Explanation:

i think the graduated tax system is fairest ,it imposes a higher rate on the rich than the poor and all this is done based on the tax payer if this is done it will help the poor to pay for needs such as shelter food and other personal needs it allows the poor to spend most of they money

2.1 Based on the information given, prepare the Trade payables general ledger account of Sweets Traders (Pty) Ltd in the books of Lolly-Pop Traders (Pty) Ltd showing all the adjustments and additional transactions necessary to correctly account for the January 2022 transactions. You are NOT required to process any of the transactions already processed in the account given above, you only need to show the adjustments required and any additional transactions that were not already included in the trade payables account given above. Close off the account at the end of 31 January 2022. Start your answer by using the format listed below and using the current closing balances documented in the general ledger account given above: Trade payable: SWEETS TRADERS (PTY) LTD DATE Description Totals brought forward / Opening Amount DATE 14 822 Description Totals brought forward / Opening Amount 15 934 (20 marks)​

Answers

The Closing Balance (Debit - Credit): 24,322 - 20,934 = 3,388 (Debit)

How to solve

Trade payables general ledger account:

Trade payable: SWEETS TRADERS (PTY) LTD

DATE Description Debit Credit

Totals brought forward / Opening Amount  14,822 15,934

January 5 Purchased goods on credit  5,000

January 10 Returned damaged goods 1,000

January 15 Payment to Sweets Traders 8,000

January 20 Received credit note for overpayment 500

To close off the account at the end of 31 January 2022, let's calculate the new balances:

Total Debits: 14,822 (Opening Amount) + 1,000 (Returned goods) + 8,000 (Payment) + 500 (Credit Note) = 24,322

Total Credits: 15,934 (Opening Amount) + 5,000 (Purchased goods) = 20,934

Closing Balance (Debit - Credit): 24,322 - 20,934 = 3,388 (Debit)

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The list of transactions for January 2022:

January 5: Lolly-Pop Traders purchased $5,000 worth of goods from Sweets Traders on credit.

January 10: Lolly-Pop Traders returned damaged goods worth $1,000 to Sweets Traders.

January 15: Lolly-Pop Traders paid $8,000 to Sweets Traders.

January 20: Lolly-Pop Traders received a $500 credit note from Sweets Traders for an overpayment.

According to author Daniel Pink, which statement reflects personal selling in the digital era?

Answers

Answer:

Technology that should have made salespeople

Explanation:

In To Sell Is Human, bestselling author Daniel Pink debunks the trope of the polyester-clad trickster as the face of sales in America. In fact, Pink found that most Americans now spend a good part of their job in “non-sales” sales, moving people by persuasion even if they aren’t trying to get them to buy a product. Pink explores how the increased accessibility due to the internet has made being a buyer better than ever and what salespeople need to do to be successful in a “caveat venditor” (seller aware) economy.

How can events in a process costing system affect financial statements? Provide examples.

Answers

The inventory costing asset account, which shows up on the balance sheet, is where the costs associated with units produced or in production are financial recorded.

The cost is transferred to the cost of goods sold account when the goods are eventually sold, where it appears on the income statement. Financial Process costing is a type of costing that's primarily utilized costing in manufacturing, where products are mass-produced constantly using one or more processes. Examples of this include producing chemicals, erasers, or processed foods. Instead of tracking expenses for each individual item, organizations that use process costing follow the flow of costs from department to department.

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Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?

Answers

Using the appropriate tool from the Accountant Tools menu, the 4  options that can be batch reclassified in QuickBooks Online Accountant are options A, B, C  and F:

ClassesCustomersProducts and ServicesAccount

What is QuickBooks Online Accountant?

In the above question, too batch reclassify these items, you can use the "Batch Reclassify Transactions" tool, which can be found under the Accountant Tools menu.

This tool allows you to select multiple transactions and reclassify them to a different account, class, customer, or product/service.

Therefore, Locations, tax codes, and suppliers cannot be batch reclassified using this tool. However, you can edit individual transactions to change their location, tax code, or supplier if necessary.

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See full question below

Using the appropriate tool from the Accountant Tools menu, which 4 of the following can be batch reclassified in QuickBooks Online Accountant?

Classes

Customers

Products and Services

Locations

Tax Code

Account

Suppliers

A successful data-driven market segmentation program depends on each of the following except:

a.
the rejection of tradiitional marketing research techniques

b.
the use of transactional and event data

c.
a common definition of market segments across all areas of the business

d.
developing a centralized and accessible CRM (Customer Relationship Management) database

Answers

A successful data-driven market segmentation program depends on the "use of transactional and event data", "a common definition of market segments", "and the development of a centralized CRM database" but it does not depend on "the rejection of tradiitional marketing research techniques".

The correct option to the given question is option a.

Traditional marketing research techniques, such as surveys, focus groups, and interviews, have long been used to gather insights about consumer behavior and preferences. While these techniques may have limitations, they still play a valuable role in understanding customer motivations and attitudes. Data-driven market segmentation programs can benefit from a combination of both traditional and data-driven research approaches. The use of transactional and event data is crucial for a data-driven market segmentation program. This type of data provides valuable information about customer behaviors, purchase patterns, and interactions with the business.

Having a common definition of market segments across all areas of the business ensures consistency and alignment in marketing efforts. This allows for targeted and personalized messaging that resonates with each segment. It also facilitates coordination between different departments, such as marketing, sales, and customer service, leading to a more cohesive and effective customer experience.

Finally, developing a centralized and accessible CRM database is essential for managing and analyzing customer data. It enables the integration of data from various sources, such as transactions, interactions, and demographic information, into a single platform. This centralized database provides a comprehensive view of customers, enabling more accurate segmentation and personalized marketing initiatives.

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Search the library and the Internet for information pertaining to the ethical violation made by an organization, past or present, and be sure not to identify the organization. See if this incident has occurred in other organizations; give 2 examples and their outcomes. (OWN WORDS)

Answers

Legitimizations that are Substantial for the Association's Activities Business ethics issues length a great many subjects inside an association's ethical rules. Straightforward moral issues in business include empowering conduct that depends on genuineness and trust, however more complicated issues include obliging variety, humane navigation, consistence, and administration that is reliable with the association's fundamental standards.

Business ethics, typically alluded to as corporate morals, is a subset of applied morals or expert morals that resolves moral or moral issues that might come up in the work environment.

It is critical to the activities of the two individuals and whole organizations and is relevant to all features of business behavior.

People, authoritative declarations, or the overall set of laws all add genuineness to these morals.

These guidelines, goals, moral convictions, and untrustworthy conduct act as an organization' core values.

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Supply Club, Incorporated, sells a variety of paper products, office supplies, and other products used by businesses and individual consumers. During July 2024, it started a loyalty program through which qualifying customers can accumulate points and redeem those points for discounts on future purchases. Redemption of a loyalty point reduces the price of one dollar of future purchases by 20% (equal to 20 cents). Customers do not earn additional loyalty points for purchases on which loyalty points are redeemed. Based on past experience, Supply Club estimates a 60% probability that any point issued will be redeemed for the discount. During July 2021, the company redeemed 12,200 points and sold additional product of $152,500, so it recorded $164,700 of revenue. The aggregate stand-alone selling price of the purchased products is $164,700. Seventy percent of sales were cash sales, and the remainder were credit sales.

Required:
1. & 2. Prepare Supply Club’s journal entry to record July and August sales. During August, customers redeem loyalty points on $73,200 of merchandise. Seventy-five percent of those sales were for cash, and the remainder were credit sales.

Answers

A journal entry is the record of the financial transaction of a business in its financial books.

(1)

Cash ($164,700 * 70%)                                                          115,290          

Accounts Receivable ($164,700 * 30%)                                 49,410          

Sales revenue                                                                       163,053                  Deferred Revenue - Loyalty Point                                           1,647

(2)

Cash (73,200 * 75% * 70%)                                   38,430          

Accounts Receivable (73,200 * 25% * 70%)        12,810          

To Deferred Revenue                                            16,470          

To Sales Revenue                                                   67,710    

WORKING NOTES:

a) Price of loyalty points = (Loyalty points × Estimated redemption) =$12,200 × 20% × 60%

= $1,464

b) ​Total Stand−alone selling price​

= Stand−alone selling price of the purchased product​ + Stand−alone selling price of the loyalty points​

= $164,700+$1,464 = $166,164

c) Percentage of FMV for loyalty points​

= (Total stand-alone selling price FMV of loyalty points​)

= ($164,700 + $1,464 = $166,164​) = 1%

d) Percentage of FMV for purchased products

​= (Total stand−alone selling price FMV for purchased products​) = ($164,700 + $1,464 = $166,164​) = 99%

e) Revenue allocation for the purchased product​

= Package amount of purchased products​​ × Percentage of FMV for purchased products​ = ($164,700 × 99%) = $163,053.

(f) Revenue allocation for loyalty points​

= Package amount of loyalty points​ ×  Percentage of FMV for loyalty points​​

= ($164,700 × 1%) = $1,647.

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Answer the following questions on the basis of the monopolist's situation is illustrated in the following graph.

a. At what output rate and price does the monopolist operate?
b. In the equilibrium, approximately what is the firm's total cost and total revenue?
c. What is the firm's economic profit or loss in equilibrium?

Answer the following questions on the basis of the monopolist's situation is illustrated in the following

Answers

The following answers are based on a monopoly economy.

The output rate and the price at which the monopolist operates based on the graph is 100 quantities at $10.In the market equilibrium, the firm's total cost and total revenues are $750 and $1000 respectively. The firm's economic profit in the equilibrium is $250.

What is a monopoly?

A monopoly, as defined by Irving Fisher, is a market with "no competition," resulting in a scenario in which a certain individual or organization is the exclusive supplier of a given product.

To arrive at answer a, we need to recall that the equilibrium of a monopolist is when the Marginal Cost equals the Marginal Revenue and the Marginal Cost Curve (MC) cuts the Marginal Revenue Curve (MR ) from below.

At this point, the equilibrium output is 100, and the equilibrium price is $ 10 for every unit of production.

For the answer is b, given that the firm is producing 100 units of goods at an average total cost of $7.5 (derived from the point that aligns with MR = MC), therefore,

Total Cost   = Equilibrium Output * ATC (Average Total Cost)

= 7.5 * 100

= $750

To arrive at answer c,
Recall that Economic profit is the difference between the money collected from the sale of a product and the expenses of all inputs utilized, as well as any opportunity costs, is the economic profit or loss.

Hence, Economic Profit = Total Revenue (TR) Less Total Cost (TC)

= $1000 - $ 750

= $250

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Describe a method for training employees.

Answers

Answer:

camping

Explanation:

Career research and decision making
1. Define your problem related to college or career goals.

Answers

Answer: The difficulty of choosing the right career

Explanation: One of the major problems I experienced was choosing the right career for me. When you are young and just got out of high school right away you think about college but, what career is the right one? that was not just my problem but a lot of young adults and teenagers deal with this.

The thing is people feel pressure in going to college and sometimes make bad decisions when choosing a career, thats why is important to take some time before deciding which career studying.

n order for an item to be considered a gift: Group of answer choices a. It must be given without any characteristics of control left with the giftor. b. The item cannot be exchanged for an agreement to provide a contra gift or service. c. It must represent a contract. d. Both a and b are required for an item to be considered a gift. e. Both a and c are required for an item to be considered a gift.

Answers

Answer:

a. It must be given without any characteristics of control left with the giftor.

b. The item cannot be exchanged for an agreement to provide a contra gift or service.

Explanation:

According to the Internal revenue system (IRS) gift means any transfer made to an individual either in direct way or indirect and the full considered would not be collected in return. In other way, lets take an example that you gave a big amount check and gift some investment to the individual other than your dependent or your wife so here it means you gave a gift

Therefore the option a and b is correct

Inventory is an

•expense
•asset
•neither

Answers

I’m pretty sure it’s asset.
Expense becomes a inventory while an asset classifies a inventory.

QUESTION 1 of 10: Which is the best job-seeking resource?
O a) Newspaper
Ob) Cold calls
c) The web
d) None of the above

Answers

The web is the best job-seeking resource. Therefore option C is correct.

What is WEB?

The World Wide Web, a portion of the Internet that consists of pages that can be accessed by a Web browser, is more commonly referred to as the "Web." The Web and the Internet are frequently used interchangeably because of this presumption.

The global server network that enables information sharing on the Web is actually referred to by the word "Internet." Therefore, even though a sizable amount of the Internet is made up of the Web, they are not the same thing.

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1)Which of the following is an example of a corporate ritual?
A) Employees swapping stories about the company's history and past heroes who have madesignificant contributions to the company.
B) Company excutives using company-specific jargon or slogans intended to inspire other employees to perform better.
C)Companies hosting annual partics to commemorate employee contributions and rewardoutstanding performance.
D)The assortment of material artifacts that characterize an organization, including the layoutof its facilities,how its cmployees dress,and the types of automobiles provided to topexecutives.

Answers

Companies hold annual celebrations to honor employee contributions and recognize exceptional performance as an example of a corporate ritual. Thus, option C is correct.

What is ritual?

Actively indulge in rituals only with the goal of reaching a variety of meaningful outcomes, such as lowering anxiety, feeling comfortable, easing bereavement, or succeeding in a contest.

Companies hosting annual parties among their contribution are rewarded for outstanding performance that would the boost the morale of the employees and put them towards better performance in the coming year is an example of corporate usage. Therefore, option C is the correct option.

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Trent Corporation was organized on January 1, 2015, with an authorization of 1,200,000 shares of common stock with a par value of $6 per share. During 2015, the corporation had the following capital transactions: Trent used the cost method to record the purchase and reissuance of the treasury shares. What is the total amount of additional paid-in capital as of December 31, 2015

Answers

Answer:

$2,960,000

Explanation:

January 5: issued 600,000 shares at $10 per share

July 28: purchased 80,000 shares at $11 per share  

December 31 : sold the 80,000 shares held in treasury at $18 per share

January 5, 2015, 600,000 stocks are issued

Dr Cash 6,000,000

    Cr Common stock 3,600,000

    Cr Additional paid in capital 2,400,000

July 28, 2015, 80,000 stocks are repurchased

Dr Treasury stock 880,000

    Cr Cash 880,000

December 31, resold 80,000 treasury stocks

Dr Cash 1,440,000

    Cr Treasury stock 880,000

    Cr Additional paid in capital 560,000

Additional paid in capital account balance = $2,400,000 + $560,000 = $2,960,000

Blossom Corporation’s balance sheet at the end of 2019 included the following items.

Current assets (Cash $82,000) $236,770 Current liabilities $151,770
Land 31,770 Bonds payable 101,770
Buildings 121,770 Common stock 181,770
Equipment 91,770 Retained earnings 45,770
Accum. depr.-buildings (31,770 ) Total $481,080
Accum. depr.-equipment (11,000 )
Patents 41,770
Total $481,080

The following information is available for 2020.

1. Net income was $55,870.
2. Equipment (cost $21,770 and accumulated depreciation $9,770) was sold for $11,770.
3. Depreciation expense was $5,770 on the building and $10,770 on equipment.
4. Patent amortization was $2,500.
5. Current assets other than cash increased by $29,000. Current liabilities increased by $14,770.
6. An addition to the building was completed at a cost of $28,770.
7. A long-term investment in stock was purchased for $16,000.
8. Bonds payable of $51,770 were issued.
9. Cash dividends of $30,000 were declared and paid.
10. Treasury stock was purchased at a cost of $11,000.

Prepare a statement of cash flows for 2020. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)

Prepare a balance sheet at December 31, 2020. (Show only totals for current assets and current liabilities.) (List Property, Plant and Equipment in order of Land, Building and Equipment.)

Thanks in advance!

Answers

The preparation of a statement of cash flows and balance sheet for 2020 for Blossom Corporation is as follows:

1. BlossomCorporation Corporation

Statement of Cash Flows

For the year ended December 31, 2020

Operating Activities:

Net Income                          $55,870

Add Non-Cash Expense:

Loss from sale of equipment     230

Depreciation Expenses         16,540

Amortization Expense            2,500

Adjusted cash                      $75,140

Changes in working capital:

Increase in current assets  (29,000)

Increase in current liabilities 14,770

Cash from operations        $60,910

Investment Activities:

Sale of equipment             $11,770

Building cost                     (28,770)

Investment in stock          (16,000)

Cash from investments ($33,000)

Financing Activities:

Bonds payable                $51,770

Dividends payment        (30,000)

Treasury stock                 (11,000)

Cash from financing       $10,770

Net cash flow               $38,680

2. Blossom Corporation

Balance Sheet at the end of 2020

Current assets                   $304,450

Land                                       $31,770

Buildigs                               $150,540

Equipment                           $70,000

Accum. depr.-buildings      ($37,540)

Accum. depr.-equipment   ($12,000)

Long-term stock investment 16,000

Patents                                    41,770

Amortization of Patents        (2,500)

Total assets                      $562,490

Current liabilities               $166,540

Bonds payable                  $153,540

Common stock                  $170,770

Retained earnings              $71,640

Total liabilities + Equity  $562,490

What are Statements of Cash Flows and Balance Sheets?

Statements of cash flows and balance sheets are two of the main financial statements prepared periodically by an entity.

The statement of cash flows shows the cash flows from operating, investing, and financial activities.

The balance sheet shows the financial position (assets, liabilities, and equity) of an entity at a point.

Data and Calculations:

Blossom Corporation

Balance Sheet at the end of 2019

Current assets

(Cash $82,000)                  $236,770    Current liabilities              $151,770

Land                                          31,770    Bonds payable                  101,770

Buildings                                 121,770    Common stock                  181,770

Equipment                               91,770     Retained earnings            45,770

Accum. depr.-buildings         (31,770 )   Total                              $481,080

Accum. depr.-equipment      (11,000 )

Patents                                   41,770

Total                                  $481,080

Ending Cash balance = $120,680 ($82,000 + 38,680)

Current assets = $304,450 (236,770 + $29,000 + $38,680)

Land = $31,770

Buildigs = $150,540 ($121,770 + $28,770)

Equipment = $70,000 ($91,770 - $21,770)

Accum. depr.-buildings = $37,540 (31,770 + 5,770)

Accum. depr.-equipment = $12,000 (11,000 - 9,770 + 10,770)

Long-term stock investment 16,000

Patents                              41,770

Amortization of Patents  (2,500)

Current liabilities              $166,540 (151,770 + 14,770)

Bonds payable                  $153,540 (101,770 + 51,770)

Common stock                  $170,770 (181,770 - 11,000)

Retained earnings            $71,640 (45,770 + $55,870 - 30,000)

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1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.

Answers

1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.

This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.

In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.

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*IF CORRECT ANSWER IS GIVEN I’LL AWARD BRAINLIEST!*

Ronald is interviewing at a large orthopedic clinic for a job that includes the duties of submitting claims for reimbursement, reviewing denials, settling billing matters, applying general accounting principles, and dealing with any other issues or follow-up on claims. Identify the area in which Ronald will be working.

(A) Deterministic algorithm
(B) Revenue cycle
(C) R-ADT
(D) Chargemaster

Answers

The area in which Ronald would be working in the Orthopedic clinic for the specified job is:

(D) Chargemaster

Who is a Chargemaster?

This refers to the person whose job in a hospital is to provide billing information to patients, and is also in charge of claims and also general accounting principles.

With this in mind, we can see that the area which Ronald would be working in the Orthopedic clinic if he gets the job would be Chargemaster as he in charge of overall accounting and billing duties.

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The ending balance of Retained Earnings can best be described as:

Answers

Answer:

The amount of net income over the life of the company not paid to owners in the form of dividends.

Explanation:

Investments generally grow to an ex potential rate because they grow on them selves. What is another term for this concept?

A. Unbounding.
B. Compounding.
C. Rebounding.

Answers

Investments generally grow to an expotential rate because they grow on themselves. Another term for this concept is Compounding. The correct option is b.

Compounding is the process in which an asset’s earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will generate earnings from both its initial principal and the accumulated earnings from preceding periods.

Exponential growth is a process that increases quantity over time. It occurs when the instantaneous rate of change of a quantity with respect to time is proportional to the quantity itself.

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Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57,000 actual direct labor-hours and incurred $345,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 55,000 direct labor-hours during the year and incur $330,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was:

Answers

Answer:

Underapplied by $3,000

Explanation:

Calculation for what The Corporation's manufacturing overhead cost for the year was:

First step is to calculate the Predetermined Overhead rate

Predetermined Overhead rate=( $ 330,000/ 55,000)

Predetermined Overhead rate= $ 6 per labor hour

Now let calculate the Manufacturing overhead cost

Manufacturing overhead cost= (6 x 57 000)-$345,000

Manufacturing overhead cost=$342,000-$345,000

Manufacturing overhead cost=Underapplied by $3,000

Therefore The Corporation's manufacturing overhead cost for the year was:underapplied by $3,000

has an absolute advantage in making pizza, and has a comparative advantage in making pizza.

Answers

Kris has a comparative advantage over Pat because it takes him four hours to prepare a pizza while Pat can create one in two.

Two key ideas in economics and global trade are absolute advantage and comparative advantage. They have a significant impact on how and why countries and companies allocate resources to the creation of specific commodities and services. Absolute advantage refers to a situation in which one party can produce a good more quickly and profitably than another nation or rival company. Contrarily, comparative advantage considers the opportunity costs involved in selecting to produce a variety of goods with constrained resources.

The question is incomplete, complete question is:

Pat and Kris share a residence. Of course, they spend the majority of their time studying, but they also make time for their best pastimes, such as baking pizza and making root beer. Pat brews a gallon of root beer in 4 hours and bakes a pizza in 2 hours. A gallon of root beer takes Kris 6 hours to brew, and a pizza takes him 4 hours. Who makes pizza with a clear advantage? Who makes pizza with a comparative advantage? Explain.

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Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2019. Below is a portion of its balance sheet. Conduct a horizontal analysis of the following line items. (Negative answers should be indicated by a minus sign. Round the "percent" answers to the nearest hundredth percent.)

Answers

The horizontal analysis of General Motors' balance sheet shows that:  

                                              2019        2018       Difference      %Change

Cash and cash equivalent  $16,680   $15,849           $831               5.24%

Marketable securities          $9,572    $16,848        $(7,276)           -43.19%

Inventories                           $13,992   $15,024        $(1,032)            -6.87%

Goodwill                               $0             $1,292         $(1,292)            -100%

Total liabilities & equities  $103,949   $144,953      $(41,004)         -28.29%

Horizontal analysis is a financial analysis used to evaluate a company's performance over time by comparing each financial results between the current period and the year before. Horizontal analysis allows company to directly notice any changes happen in each account of its balance sheet and the magnitude of changes that has occured. Horizontal analysis provides a company with historical trends data.

Please refer to the table attached below for more proper data table.  

Based on the data we have, we can fill the different coloumn with the gap between the amount of each account in 2019 and the amount of the same account in 2018.

Difference = amount in 2019 - amount in 2018

After finding the differences for each account, we can calculate the percentage of change (%change) by comparing it to the amount of the same account in 2018, using this formula:

%change = difference / amount in 2018

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Assume General Motors announced a quarterly profit of $119 million for 4th quarter 2019. Below is a portion

How is the amount of property taxes that a person owes determined?

The local government levies property taxes based on the person's credit score.

The state government levies property taxes based on the length of time a person has owned their home.

The state government levies property taxes based on the person's taxable income.

The local government levies property taxes based on the value of real estate that a person owns.

Answers

The  amount of property taxes that a person owes determined as the local government levies property taxes based on the value of real estate that a person owns. Option D.

What is meant by property tax?

Immovable property, such as land and buildings, as well as tangible personal property that is mobile, such as machinery and equipment, are the main subjects of a property tax. Property taxes, which go toward paying for roads, schools, police, and other services, are the single greatest source of state and local income in the United States.

Property taxes are yearly levies on real estate. It is typically a local tax, though not necessarily. It is frequently based on the idea of market worth. The tax base may consist of solely land, only buildings, or other combinations of these elements.

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6. Comparative advantage is when A. B. C. D.
A. one person can produce more of a good than another person.
B. one person can produce a good at a lower opportunity cost than another person.
C. Two parties can complete a task equally well.
D. one person can produce a good at a higher opportunity cost than another person.

Answers

B. one person can produce a good at a lower opportunity cost than another person.

Comparative advantage is a concept in economics that refers to the ability of a person, firm, or country to produce a good or service at a lower opportunity cost than another. Opportunity cost is the cost of forgoing an alternative opportunity in order to pursue a particular action. Hence, the correct option will be B: one person can produce a good at a lower opportunity cost than another person.

For example, let's say Person A can produce 10 units of product X or 5 units of product Y in one hour, while Person B can produce 8 units of product X or 4 units of product Y in one hour. Person A has an absolute advantage in producing both X and Y, as they can produce more of each product than Person B. However, Person B has a comparative advantage in producing product Y, as they can produce it at a lower opportunity cost than Person A, since they have to give up less of their production of product X to produce product Y.

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The paid-off portion of your mortgage at any point in time is called the __________., a. equity, b. principal, c. down payment, d. line of credit

Answers

Answer:

b is answer i think ..........

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