Answer and Explanation:
The preparation of the corrected un-adjusted trial balance is presented below:
Particulars Dr Amount Cr Amount
Cash $15,500
Accounts Receivable $46,750
Prepaid Insurance $12,000
Equipment $190,000
Accounts payable $24,600
Unearned rent $5,400
Common stock $40,000
Retained Earnings $70,000
Dividends $13,000
Service Revenue $385,000
Wages expense $213,000
Advertising expense $16,350
Miscellaneous expense $18,400
Total $525,000 $525000
The corrected un-adjusted trial balance is presented below:
"Ranger Co. Unadjusted Trial Balance on August 31, 2014"
Particulars Dr Amount Cr Amount
Cash $15,500
Accounts Receivable $46,750
Prepaid Insurance $12,000
Equipment $190,000
Accounts payable $24,600
Unearned rent $5,400
Common stock $40,000
Retained Earnings $70,000
Dividends $13,000
Service Revenue $385,000
Wages expense $213,000
Advertising expense $16,350
Miscellaneous expense $18,400
Total $525,000 $525000
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Which of these stores uses fulfillment center?
A) Comet Dry Cleaner
B) Dunkin’ Donuts
C) Amazon
D) 7-11
The store which uses the fulfillment center is Amazon.
The order fulfillment center is seen as the customer of packaging, receptacles, or of the sections of canisters which it employs to maintain, safeguard, and contain the products which it packages. So, Fulfillment by Amazon (FBA) is a service which tends to allow businesses in order to outsource order fulfillment to Amazon.
Here, there are several business which send products to Amazon fulfillment centers and when a customer makes a purchase, we pick, we pack, and then we ship the order. Thus, they also provide customer service and process returns for the orders placed.
Hence, option C is correct.
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What are the global perspectives in small business?
In many nations, the advancement of the economy has created more prosperous middle and working classes and advancements in communication have minimized the state’s ability to censor information. Both factors have led to the
As the economy and communication advancement created more prosperous middle, working classes and minimized the state's ability to censor information., then, these have led to the spread of democracy.
What is democracy?The concept of democracy relates to having a prosperous nation whereby every citizen have a fair right and enjoyment in the country.
In conclusion, both factors of economy and communication advancement have led to the spread of democracy.
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On November 1, Ellery Corp. purchased land by transferring $50,000 cash and a building to the other company. The building given up had an original cost of $2,000,000, a book value of $400,000, and a fair market value of $900,000.
A) Prepare the journal entry Ellery should make to record the exchange of the building and cash for the land, assuming the exchange has commercial substance.
B) If the above exchange were deemed to have non-commercial substance, by what amount should the “Land” account be debited?
The Journal entry for the exchange made will be
Land A/C dr
To Cash A/C
Journal refers to books of original entries. In which monetary transactions are noted down for the first time in chronological order. The word Jour in Journal is derived from the French word which means daily. A journal is a daily record book in which daily transactions are recorded for the first time.
A journal records both debit and credit aspects of transactions according to the double entry system. It provides a basis for posting into the ledger. The transactions are recorded on a permanent basis which acts as evidence in case of emergency. Each entry in the journal is followed by a brief explanation of the transactions which is called Narration.
Thus, the journal provides a date-wise record of all transactions with details of accounts debited and credited.
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Kyle, a single taxpayer, worked as a freelance software engineer for the first three months of 2020. During that time, he earned $76,000 of self-employment income. On April 1, 2020, Kyle took a job as a full-time software engineer with one of his former clients, Hoogle Inc. From April through the end of the year, Kyle earned $196,000 in salary. What amount of FICA taxes (self-employment and employment related) does Kyle owe for the year
Answer:
$18,943.40
Explanation:
FICA taxes when Kyle was self employed = $76,000 x 15.3% = $11,628
Social security taxes while employed = ($137,700 - $76,000) x 6.2% = $3,825.40
Medicare taxes while employed = [($200,000 - $76,000) x 1.45%] + [($196,000 + $76,000 - $200,000) x 2.35%] = $1,798 + $1,692 = $3,490
Total FICA taxes = $18,943.40
The identity thief's information on your credit report wouldn't impact your ability to
get certain types of jobs.
True
False
3. 1.2 Explain how the looting of shops and malls will affect businesses in terms of the relationship between social responsibility and Triple bottom line
Looting shops and malls is a serious crime which today's world faces. Whenever there is any event or natural disaster there is a group of people who exploit this situation.
Many shops and malls are looted as everyone is busy escaping the natural disaster.
There are the people who benefit from these crisis. There is social responsibility of every citizen not to exploit the situation.
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The looting of shops and malls reduces the incentives for businesses to carry out their social responsibility and minimizes their ability to meet the Triple bottom line.
Social responsibility imposes an obligation on businesses to strike a good balance between these factors:
economic growthsocial welfareenvironment impactSimilarly, businesses have the mandate to meet the Triple bottom line in these ways:
Meeting financial performance targets in terms of profits and shareholder valuesMaking positive social impact on the people, internal and externalEnsuring that their environmental footprint is not too negative on the planet.Thus, when people engage in the looting of shops and malls at the slightest provocation, the ability of businesses to meet both their social responsibility and Triple bottom line is jeopardized.
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What are the similarity and common characteristics of regulation, rule and policy?
Answer:
Policies are the rules and regulations that serve as a guiding principle for the organization while making decisions. On the other hand, procedures are the precise steps that are followed while carrying out an organization activity.
There is always a relation between them: Policies are rules that are made by organizations, to achieve their aims and goals. Policies are made by individuals, groups, companies, and even governments to carry out their plans. Regulations are rules that are made to make people comply and behave in a certain manner.
There is usually a relationship between rules, regulations, and Policies.
What is the relation between Policy and Regulations?Policies are rules that might be made through organizations, to reap their objectives and goals.
Policies are made through individuals, groups, companies, or even governments to perform their plans. Regulations are rules that might be made to make humans comply and behave in a sure manner.
Hence, these are the similarities and common characteristics of regulation, rule, and policy.
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bank run definition.
Answer:
A bank run occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future.
Explanation:
Hope this helps!
To help audiences understand large amounts of information, which visuals are the most suitable?
different between isoquant and isocost
What are 2 key benefits of budgeting?
Budgeting allows for effective financial management, empowering individuals and organizations to control their finances, plan for the future, achieve goals, and enhance long-term security.
Budgeting offers several key benefits for individuals, households, businesses, and organizations. Here are two key benefits of budgeting:
Financial Control and Planning: Budgeting provides a framework for financial control and planning.
By setting clear financial goals and allocating resources effectively, individuals and organizations can have better control over their income, expenses, and overall financial situation. Budgeting allows for proactive decision-making, as it helps identify areas of overspending or potential savings, enabling adjustments and course corrections as needed.
It helps in prioritizing expenses, reducing wasteful spending, and ensuring that financial resources are allocated in line with priorities and objectives.
Goal Achievement and Future Security: Budgeting plays a crucial role in goal achievement and future security. By setting specific financial goals, such as saving for a house, education, retirement, or business expansion, budgeting helps individuals and organizations allocate resources towards these goals systematically.
It provides a roadmap for saving and investing, ensuring progress towards long-term objectives. Budgeting also helps in managing debt effectively, reducing financial stress, and building a strong financial foundation for the future.
By establishing savings and emergency funds, budgeting provides a safety net, enhancing financial resilience in case of unexpected events or economic downturns.
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What is true about early managers?
Answer:
Well there Hell to work with they think everything belongs to them and there just brats.
Explanation:
The amount of money in a savings account is an example of which of the following?
a. investment asset
b. liquid asset
c. long term asset
d. use asset
Please select the best answer from the choices provided
Correct answer is B.
Answer:
liquid asset is the correct answer is B
Question 2
(10 Marks)
A company uses 15,000 units of stock item 6786 each year. The item has a purchase cost of R4 per
unit. The cost of placing an order for re-supply is R220. The annual holding cost of one unit of the item
is 10% of its purchase cost.
Data relating to stores item 6787 are as follows.
Daily use:
Lead time for re-supply:
Reorder quantity:
Required:
i.
ii.
300 Units
5-20 Days
10,000 Units
EOR
What is the economic order quantity for item 6786, to the nearest unit?
What would be the effect of an increase in the annual holding cost per unit on (1) the EOQ and (2)
total annual ordering costs?
What should be the reorder level for this stock item (6787), to avoid the possibility of inventory-outs"
1. The economic order quantity for item 6786 is approximately 2,568 units. If the annual holding cost per unit increases, the EOQ will decrease. The total annual ordering costs will also decrease if the annual holding cost per unit increases.
2. The reorder level for stock item 6787 should be set at 6,000 units to avoid the possibility of inventory-outs.
How did we arrive at these assertions?To calculate the economic order quantity (EOQ) for item 6786, we can use the following formula:
EOQ = √((2 × Annual Demand × Cost per Order) / Holding Cost per Unit)
Given the following data:
Annual Demand = 15,000 units
Cost per Order = R220
Holding Cost per Unit = 10% of R4 = R0.4
Substituting these values into the formula:
EOQ = √((2 × 15,000 × 220) / 0.4)
EOQ = √(6,600,000)
EOQ ≈ 2,568 units (to the nearest unit)
Therefore, the economic order quantity for item 6786 is approximately 2,568 units.
Effect of an increase in the annual holding cost per unit:
1) The EOQ: If the annual holding cost per unit increases, the EOQ will decrease. This is because a higher holding cost per unit means it becomes more expensive to hold inventory, and therefore, it is more cost-effective to order smaller quantities more frequently.
2) Total annual ordering costs: The total annual ordering costs will also decrease if the annual holding cost per unit increases. This is because the decrease in the EOQ will result in more frequent orders, leading to more ordering costs but less holding costs. The decrease in holding costs will outweigh the increase in ordering costs, resulting in a lower total.
Reorder level for stock item 6787 to avoid inventory-outs:
To calculate the reorder level, we need to consider the daily use and lead time for re-supply. The reorder level should be set to ensure that there is enough stock to cover the daily demand during the lead time.
Reorder Level = Daily Use × Lead Time for Re-supply
Given the following data:
Daily Use = 300 units
Lead Time for Re-supply = 5-20 days (let's take the maximum value, which is 20 days)
Reorder Level = 300 × 20
Reorder Level = 6,000 units
Therefore, the reorder level for stock item 6787 should be set at 6,000 units to avoid the possibility of inventory-outs.
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stock price for vinyl record player?
To give you an idea the stock price, beginner to advanced record player installations can range from $50 to $450, depending on a number of variables.
What is current stock price?It is the latest trading price for a share of stock or any other security. The present price serves as the starting point in an open market. It shows the price that a buyer and seller would be prepared to accept for a later transaction involving that security.The current price is only an indication and not a promise. The future sale price on an exchange is not determined by the present price. The security's price will fluctuate over time as supply and demand factors change.Using the current value accounting method, assets are valued at their replacement cost rather than their initial cost.Cash price is the same as current price because it refers to the most recent quoted price on an exchange.Learn more about current stock price refer to :
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If, at some interest rate, the quantity of money demanded is less than the quantity of money supplied, people will desire to
I think people will desire to produce less money so it will meet with the quantity of money needed to be demanded
Explanation:
i have no idea
Answer:
which profession do you prefer to choose for your career . why?
Rooms or flights can be booked together when people are all coming to the same location at the same time, such as for a wedding or school trip. This best describes
catering event sales
convention and conference sales
group sales
meeting room sales
The best description of the notion that rooms or flights can be booked together for people going on the same trip is C. group sales.
What are group sales?Group sales refer to a selling strategy where a seller is able to sell their products to different people as a group. As a result of this sales as a group, there are often discounts thanks to the seller being able to pool costs.
An example of group sales is when different people go on a trip together and so book their flights, and rooms together. This allows them to save on costs because they would often get discount deals.
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Describe one (1) resource you found that provides tips on how to talk about your résumé in a job interview.
Answer:
Explanation:tôi xứng đáng có mức lương cao hơn
What is the Internal Revenue Code?
A.) a collection of tax laws, their interpretations, and federal tax rulings
B.) a list of tax brackets and the percentages each person must pay
C.) a book used solely by tax accountants to help people complete their filings
D.) a passcode that citizens must have to file their taxes online
Internal Revenue Code is collection of tax laws, their interpretations, and federal tax rulings.
Option A is the correct answer
What is internal revenue code?The Internal Revenue Code are set of laws and rules created to guide tax related matters
It was created by revenue service for the public on tax payment.
Therefore, Internal Revenue Code is the collection of tax laws, their interpretations, and federal tax rulings
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(100 POINTS!!!) LuAnn is a very specific type of photographer. The images that she captures have several prominent characteristics such as representing culture as it is lived rather than mythologized, respectful portraits of members of the community to show their stature, and documenting tribal customs and ceremonies for future generations. What type of photography does LuAnn most likely practice?
A. fashion photography
B. nature photography
C. sports photography
D. indigenous photography
LuAnn most likely practices indigenous photography. Indigenous photography refers to photographs taken by and for indigenous communities that depict the culture, customs, and traditions of those communities. The characteristics of the images LuAnn captures, such as representing culture as it is lived, respectful portraits, and documenting tribal customs and ceremonies, are typical of indigenous photography. The goal of this type of photography is often to give voice and visibility to indigenous communities, as well as to preserve their cultural heritage for future generations.
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Advise the 'UCT Council' on the criteria for effective workforce planning that the university can adopt to salvage the situation in future. NB: Use the variables that you learnt in class to substantiate your answer.
Effective workforce planning for UCT should consider factors such as workforce demand, skills gap analysis, succession planning, retention strategies, and performance management. These criteria will help ensure that the university has the right people, with the right skills, in the right roles to meet its strategic goals and objectives.
Effective workforce planning is essential for the success of any organization, including universities like UCT. The following criteria can be adopted by UCT to improve its workforce planning:
Forecasting: UCT needs to forecast its workforce needs based on student enrollment, program demand, and changing trends in higher education. This can be done by using statistical and analytical tools to project future workforce requirements.
Recruitment and Retention: UCT should develop a recruitment and retention strategy that aligns with the university's goals and objectives. This strategy should focus on attracting and retaining talented employees who can contribute to the success of the university.
Diversity and Inclusion: UCT should strive to create a diverse and inclusive workforce that reflects the student population and the broader community. This can be achieved by developing programs and initiatives that promote diversity and inclusion.
Training and Development: UCT should invest in the training and development of its employees to improve their skills and knowledge. This will not only benefit the employees but also contribute to the success of the university.
Performance Management: UCT should implement an effective performance management system that aligns employee performance with the university's goals and objectives. This will help to identify and address performance issues and ensure that employees are contributing to the success of the university.
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Semi-fixed Cost will be
A. zero if output were zero and would change
erratically as output increased
B. more than zero if no products were made and
would then increase in direct proportion to output
C. zero when output is zero and would increase
in direct proportion to output
D. a fixed amount when output was zero and would
not increase in direct proportion to output
Answer:
B. more than zero if no products were made and would then increase in direct proportion to output
Explanation:
Semi-fixed Cost will be "more than zero if no products were made and would then increase in direct proportion to output."
This is because a semi-fixed cost also known as semi-variable cost or mixed cost is a combination of both a fixed factor and a variable factor.
Such that if production was zero some costs would still be incurred. However, as output rises, the variable part of the costs will rise in direct proportion to output.
Precision Systems manufactures CD burners and currently sells 18,500 units annually to producers of laptop computers. Jay Wilson, president of the company, anticipates a 15 percent increase in the cost per unit of direct labor on January 1 of next year. He expects all other costs and expenses to remain unchanged. Wilson has asked you to assist him in developing the information he needs to formulate a reasonable product strategy for next year.
You are satisfied that volume is the primary factor affecting costs and expenses and have separated the semivariable costs into their fixed and variable segments. Beginning and ending inventories remain at a level of 1,000 units. Current plant capacity is 20,000 units. The following are the current-year data assembled for your analysis.
Sales price per unit $100
Variable costs per unit:
Direct materials $10
Direct labor $20
Manufacturing overhead and selling and administrative expenses 30 60
Contribution margin per unit (40%) $40
Fixed costs $390,000
Required:
a. What increase in the selling price is necessary to cover the 15 percent increase in direct labor cost and still maintain the current contribution margin ratio of 40 percent?
b. How many units must be sold to maintain the current operating income of $350,000 if the sales price remains at $100 and the 15 percent wage increase goes into effect?
c. Wilson believes that an additional $700,000 of machinery (to be depreciated at 20 percent annually) will increase present capacity (20,000 units) by 25 percent. If all units produced can be sold at the present price of $100 per unit and the wage increase goes into effect, how would the estimated operating income before capacity is increased compare with the estimated operating income after capacity is increased? Prepare schedules of estimated operating income at full capacity before and after the expansion.
a. An increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.
b.The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The required sales volume is 18,500 units.
c. The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units
a. To maintain the current contribution margin ratio of 40 percent, the selling price per unit needs to be increased by 20 percent [(15 percent wage increase) / (current contribution margin ratio)].
Therefore, an increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.
b. To maintain the current operating income of $350,000, the number of units that must be sold can be calculated using the contribution margin ratio.
The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The formula for calculating the required sales volume is:
(Number of units) = (Fixed costs + Desired operating income) / Contribution margin per unit
Plugging in the values, we have:
(Number of units) = ($390,000 + $350,000) / $40 = 18,500 units
c. Before the capacity expansion, the estimated operating income can be calculated using the current production and sales volume of 18,500 units.
The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units.
The schedules of estimated operating income at full capacity before and after the expansion can be prepared by multiplying the respective sales volumes with the contribution margin per unit and subtracting the fixed costs and the wage increase.
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You have discovered that one of you closest friends at work has stolen a large sum of money from the company. Would you do nothing? Go directly to an executive to report the incident before talking about it with the offender? Confront the individual before taking action? Make contact with the individual with the goal of persuading that person to return the money?
Answer:I would recommend confronting the individual before taking any action. It is important to first discuss the issue with the offender to understand the situation and whether it was intentional and deliberate. If the offender is uncooperative or unwilling to return the money, then the next step would be to go directly to an executive to report the incident.
Explanation:
Which of the following analogies best describes a supply chain?
A supply chain is like a jet engine; a mixture or two elements are combined to increase force.
A supply chain is like an animal's digestive system with food moving from the mouth through the body and broken down with
nutrients distributed to waiting organs along the way.
A supply chain is like an ant colony with defined roles and responsibilities for each member.
A supply chain is like the weather, it is constantly moving and causing change.
PLEASE HELP!!! I need to come up with a store that would be convenient in a high school. It can be one that sells food, etc.
Did the court calculate the date correctly?
Couldn't Holloway's performance review/
renewal have taken place well before the end of
one year? If so, doesn't that mean the contract
falls outside of the statute of frauds?
If Holloway's contract was formed for a period of one year or less and his performance review/renewal could have taken place before the end of that one-year period, then the contract may fall outside of the statute of frauds and would not need to be in writing.
It is not possible to determine whether the court calculated the date correctly or not without more information about the specific case being referred to.
However, if Holloway's performance review/renewal could have taken place well before the end of one year, it is possible that the contract falls outside of the statute of frauds.
Statute of frauds refers to laws that require certain contracts to be in writing and signed in order to be enforceable.
In most states, contracts that cannot be performed within one year from the date of formation must be in writing to be enforceable.
Therefore, if Holloway's contract was formed for a period of one year or less and his performance review/renewal could have taken place before the end of that one-year period, then the contract may fall outside of the statute of frauds and would not need to be in writing.
In conclusion, the question of whether the court calculated the date correctly cannot be determined without more information, but if Holloway's contract was for one year or less and his performance review/renewal could have taken place before the end of that one-year period, then the contract may not fall within the statute of frauds.
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differences between a small office and a big office
Answer:
one is bigger and the other one is smaller
4. There is a direct link between good ethics, market share and profitability. Explain how businesses that demonstrate a
high level of ethics experience an increase in their profits as a result. (2 marks)
Answer:
Yes
Explanation:
Managers' ethical behaviour benefits all of the organization's directors, which boosts a company's goodwill and, as a result, profits. Customers and clients are more likely to trust a company that demonstrates its commitment to a good
The principles that form an ethical workplace culture have an impact on the customer connections that a firm maintains. Customers should be treated with respect and dignity, and staff should be truthful and equitable with them, according to an established brand. long-term effect.