The following transactions relate to the Scott Business venture. Which two of the following six
possibilities occurred as a result of each transaction - an asset increased, an asset decreased, a
Liability increased, a liability decreased, equity increased, or equity decreased:
(SHOW INCREASE (+) DECREASE (-)
a. Scott invests $20,000 cash to start the business in return for stock.
b. Purchased supplies paying $1,000 cash.
c. Purchased equipment for $15,000 cash.
d. Purchased Supplies of $200 and Equipment of $1,000 on account.
e. Borrowed $4,000 from 1st American Bank.
f. Provided consulting services receiving $3,000 cash.
g. Paid salaries of $800 to employees.
h. Dividends of $500 are paid to shareholders
i. $ 1000 amount paid to the creditor against equipment purchase
j. Paid outstanding electricity bills $ 500
I want the solution clear and tidy, I do not want the handwriting because it is not clear.
Answers
a. Asset increased, Equity increased.
b. Asset decreased, Asset decreased.
c. Asset increased, Asset decreased.
d. Asset increased, Liability increased.
e. Asset increased, Liability increased.
g. Asset decreased, Equity decreased.
h. Asset decreased, Equity decreased.
i. Liability decreased, Asset decreased.
j. Liability decreased, Asset decreased.
here some more information:
a. Scott's cash investment increases the asset (cash) and the equity of the business .
b. Purchasing supplies reduces the asset (supplies) and the asset (cash) used for payment.
c. Buying equipment increases the asset (equipment) and reduces the asset (cash) used for payment.
d. Purchasing supplies and equipment on account increases the asset (supplies) and the liability (accounts payable).
e. Borrowing cash increases the asset (cash) and creates a liability (notes payable).
f. Providing services for cash increases the asset (cash) and the equity of the business.
g. Paying employee salaries reduces the asset (cash) and decreases the equity of the business.
h. Paying dividends reduces the asset (cash) and decreases the equity of the business.
i. Paying the creditor reduces the liability (accounts payable) and decreases the asset (equipment).
j. Paying outstanding bills reduces the liability (accounts payable) and decreases the asset (cash).
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Related Questions
Neela is making an Excel workbook, which will be on display at a school fair. She would like viewers
to be able to use it interactively and easily insert or remove functions to see how the data interact.
Neela decides to create macros. Now she needs to make sure the macros have clear, large-font
descriptions and are easily accessible and understandable to users.
Which is the best way for Neela to present the macros?
O insert each of them into the Quick Access Toolbar
use the Options menu to customize the ribbon and add the macros
O create buttons with large labels on the worksheet itself
O leave a list next to the computer with keystroke shortcuts for each macro
Answers
Create buttons with large labels on the worksheet itself is the best way for Neela to present the macros. Hence, option C is correct.
What are macros in Excel?When using Microsoft Excel, you can record a macro to automate routine tasks. A macro is an action or group of actions that can be continuously performed. When you create a macro, you are recording your keystrokes and mouse clicks.
Specifically, carbs, proteins, and fats are the three macronutrients. In order to achieve specific objectives, counting macros simply requires keeping note of how many grams of each type of macronutrient you consume each day. Techniques like the keto diet depend on it greatly.
Thus, option C is correct.
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Which person did not use a cost-saving strategy when deciding how to spend
their money?
A. Abram used comparison shopping to decide which pair of new
jeans would be the best value.
B. Lin had decided to buy the cheapest of three fitness cameras, but
she changed her mind when she read the return policy.
C. Juanita had planned to save for her new video game, but instead
she used a credit card because her friends wanted her to play with
them.
D. Caleb bought a computer he could upgrade as newer video cards
became available instead of the computer that could not be
upgraded.
Answers
Lin had decided to buy the cheapest of three fitness cameras, but
she changed her mind when she read the return policy did not use a cost-saving strategy when deciding how to spend their money .
What is Cost reduction strategies ?
Practices and guiding concepts that aim to maximize operational effectiveness are known as cost reduction strategies. They deal with everything related to managing a firm, including employing staff and making travel arrangements.
Process simplification, efficient resource allocation, and waste reduction are key components of a successful deployment. A group of procedures or practices known as cost savings aim to lower the actual or anticipated costs of a specific transaction.
What advantages do cost savings offer?
The amount of debt you have or the amount of money you need to invest in a project may both decrease as a result of cost reductions. Saving money by cutting costs has a definite financial advantage.
To put it another way, when you examine your money, you can find cost-saving measures. Both annual budgets and financial statements make them clear.
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How long does the copyright on an original work last?.
Answers
Answer: 70 years
Explanation:
In regard to the value chain model, efficiency, cost, and cycle time would be most related to:a) suppliers.b) inputs.c) value creation processes.d) outputs and outcomes.e) quality.
Answers
In regard to the value chain model, efficiency, cost, and cycle time would be most related to- C. value creation processes.
What are these processes?Value creation processes are the activities involved in producing a product or service, which includes designing, manufacturing, marketing, and delivering the product or service.
Efficiency relates to how well these processes are performed, while cost and cycle time both relate to how efficiently these processes are carried out. By focusing on improving the efficiency, reducing costs, and shortening cycle times of value creation processes, a company can improve its overall competitiveness and profitability.
This is why value creation processes are the most important component of the value chain model, and why they are closely tied to efficiency, cost, and cycle time.
Hence, the answer is option C.
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You intend to purchase a 10 year ,10000 face value bond that pays interest of 800 every six months.If your norminal annual required rate of return is 10 percent with semi-annually compounding ,how much should you be willing to pay for this bond ? What's the current yield
Answers
Answer:
Market price = $13,738.49
Explanation:
The yield to maturity of the bond is 8% x 2 = 16%
You require a 10% return, so the present value of the bond should be:
PV of face value = $10,000 / (1 + 5%)²⁰ = $3,768.89
PV of coupon payments = $800 x 12.462 (PVIFA, 5%, 20 periods) = $9,969.60
Market price = $13,738.49
Charitable donations, entertainment expenses, and
financial goals are all examples of...
things to consider when creating a budget.
things that are considered needs.
activities that contribute to overspending.
activities that are necessary for a healthy lifestyle.
Answers
Answer: Things to consider when creating a budget.
Explanation: Trust me bro
Giving donations, entertainment costs, and financial goals are all examples of the things to consider when creating a budget. As donation and entertainment expenses can be the measures to control the budgeting.
How making budget is helpful?Budget keeps the person spending tightly accurate to the mark and like to help in saving of the money. It facilitates the person income and expenses equally and shows how much person can spend on the specific thing.
Budget cuts the extra expenses of the person and provide the measurement of spending.
Thus, option A is correct.
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After a bank reconciliation has been completed these transactions are listed as ____ to the cash balance? ? need help taking A p e x quiz now!!! don't have time to be chasing a link!
A. Journal entries
B. Credits
C. Adjustments
D. debits
Answers
Answer:
A
Explanation:
After adjusting the balances as per the bank and as per the books, the adjusted amounts should be the same. If they are still not equal, you will have to repeat the process of reconciliation again.
Once the balances are equal, businesses need to prepare journal entries for the adjustments to the balance per books.
Answer:The answer is C
Explanation:
Just took the test
the primary methods for resolving conflicts and serious business ethics disputes is through:___.
Answers
The primary methods for resolving conflicts and serious business ethics disputes can vary depending on the specific situation and parties involved. However, some common methods include mediation, negotiation, arbitration, and litigation.
Mediation involves a neutral third party who assists the conflicting parties in finding a mutually agreeable solution. Negotiation involves direct discussions between the parties to reach an agreement without outside assistance. Arbitration involves a third party who acts as a judge and makes a binding decision to resolve the dispute. Litigation involves taking legal action through the court system, which can be a lengthy and costly process.
It's important for businesses to have a clear policy and procedure in place for addressing conflicts and ethical disputes. This can include having a designated individual or team responsible for handling these situations, and providing training and resources for employees to prevent conflicts from escalating. By proactively addressing conflicts and disputes, businesses can maintain positive relationships with employees, customers, and stakeholders, and minimize the negative impacts of conflicts on their operations.
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is the salary of receptionist a period cost or a overhead cost?
Answers
The salary of a receptionist is typically considered an overhead cost because it is a regular expense that is not directly related to the production of goods or services.
Overhead costs are the ongoing expenses of running a business that are not directly related to the production of goods or services. They include rent, insurance, utilities, and salaries. The salary of a receptionist is an example of an overhead cost because they are often responsible for tasks such as answering phones, greeting visitors, and other administrative tasks.
The receptionist is not directly involved in the production of goods or services, so their salary is classified as an overhead cost. In contrast, a period cost is a cost that is related directly to the production of goods or services, such as the cost of raw materials or labor.
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f a participating provider submits a claim in excess of the maximum allowed in the fee schedule, the provider a. Can bill MCO for the balance b. Can bill the member c. Agrees not to collect the difference from either the MCO or member C d. Agrees not to collect until the member pays the deductible QUESTION 10 Marketing is the same as sales. True O False QUESTION 11 Unused funds in an HRA or HSA may over for use in future years, though certain rules and limitations apply a. Deplete Oc. Roll d. Tax QUESTION 12 The claims function routinely determine whether the member actually had benefits at the time the claim was incurred, the extent of and under what circumstance a benefit does or does not apply , Deductions O c. Deductible O d. Capitation
Answers
10: Marketing is the same as sales. False.
11: Unused funds in an HRA or HSA may roll over for use in future years, though certain rules and limitations apply. Roll.
12: The claims function routinely determines whether the member actually had benefits at the time the claim was incurred, the extent of and under what circumstance a benefit does or does not apply. Deductible.
10: Marketing is the same as sales. False.
Marketing and sales are related but distinct activities. Marketing involves various strategies and actions to promote a product or service, including market research, advertising, branding, and creating awareness. Sales, on the other hand, focuses on the actual process of selling the product or service to customers and closing deals. While marketing activities often support sales efforts, they are not synonymous.
11: Unused funds in an HRA or HSA may roll over for use in future years, though certain rules and limitations apply. Roll.
Health Reimbursement Arrangements (HRA) and Health Savings Accounts (HSA) are both types of accounts used to set aside pre-tax funds for qualified medical expenses. In some cases, if funds are not fully utilized in a particular year, they may be allowed to roll over or carry forward for use in future years. However, specific rules and limitations, such as contribution limits and eligibility criteria, apply to ensure compliance with tax regulations and the terms of the account.
12: The claims function routinely determines whether the member actually had benefits at the time the claim was incurred, the extent of and under what circumstance a benefit does or does not apply. Deductible.
The claims function in healthcare insurance involves evaluating and processing claims submitted by providers for reimbursement of medical services provided to members. As part of this process, the claims function verifies whether the member had active benefits coverage at the time the claim was incurred. It also assesses the extent of the benefit coverage and determines under what circumstances a benefit does or does not apply. The term "deductible" refers to the amount that the member must pay out of pocket before the insurance coverage kicks in.
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answers for question 11!!!!
Answers
Answer:
C!!
Explanation:
Two Major Types of Markets • Consumer Market -- All the individuals or households that want goods and services for personal use and have the resources to buy them. Business-to-Business (B2B) -- Individuals and organizations that buy goods and services to use in production or to sell, rent, or supply to others.
Gregory is aiming to get the _ symbol for his products, which is awarded by the _
Answers
Answer: environmental friendly refrigerators prestigious , engineering agency
Explanation: Separated by Commas .
Estimated total manufacturing overhead costs $750,000
Actual total manufacturing overhead costs $ 765,000
Estimated machine hours 200,000 hours
Actual machine hours 198,000 hours
1. Using the information provided by Amilmar Inc., calculate the predetermined overhead rate. Amilmar has determined machine hours to be the appropriate cost driver to allocate overhead costs.
a. $3.79.
b. $1.02.
c. $3.75.
d. $3.86.
2. Amilmar Inc. has provided this information regarding its overhead costs. It has determined machine hours to be the appropriate cost driver to allocate overhead costs. What will be the total overhead costs applied during the year?
a. $750,000.
b. $765,000.
c. $742,500.
d. $772,727.
Answers
The predetermined overhead rate and Applied over costs are $3.75 per machine hour and $742,500
What is predetermined overhead rate?A predetermined overhead rate is an allocation rate that is used to apply the estimated cost of manufacturing overhead to cost objects.
Predetermined overhead rate
= estimated total manufacturing overhead costs / estimated machine hours
= 750,000 / 200000
= $3.75 per machine hour
Applied overhead costs
= Actual machine hours * predetermined overhead rate
= 198,000 * 3.75
= $742,500
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Which Sales Channel has been opened to manufacturers because of digital tools?
A. Distribution
B. B2B
C. Direct to Consumer
D. Wholesale
Answers
The sales channel that has been opened to manufacturers as a result of digital tools is B2B.
Through B2B e-commerce, manufacturers can be able to sell their goods directly to the consumers through online platforms.It should be noted that because we're in a digital era now, consumers can be able to make purchases for products through online sales platforms and the goods will be delivered to the person's address. This is vital for businesses as manufacturers can make more sales and improve their revenue.In conclusion, the correct option is B.
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discuss the events that lead to the development of the concept of enterprise risk management. was the growth of enterprise risk management prompted primarily by an expansion of risk management activities within corporations or was it forced upon firms by external events?
Answers
The objective of organisation danger administration is to develop a holistic, portfolio view of the most considerable dangers to the fulfillment of the entity's most important objectives.
When was once organization chance administration developed?Since the mid-1990s, organization hazard management has emerged as a notion and as a management function inside corporations. Enterprise danger management is a systematic and built-in method to the management of the total risks that a corporation faces.
Enterprise risk management (ERM) is a firm-wide strategy to discover and prepare for hazards with a company's finances, operations, and objectives. ERM lets in managers to shape the firm's average danger function by means of mandating certain enterprise segments engage with or disengage from precise activities.
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https://brainly.com/question/28591317#SPJ4only people who own property need insurance
true or false
Answers
Answer:
false
Explanation:
pretty sure that is false as one can have life insurance without property.
Still double check...
the regulatory element of a representative's continuing education (ce) must be completed by when?a)first anniversary of licensing and every three years thereafterb)second anniversary of licensing and every two years thereafterc)annually by december 31d)third anniversary of licensing and every two years thereafter
Answers
The regulatory element of a representative's continuing education (CE) must be completed by the second anniversary of licensing and every three years thereafter.
Option A is incorrect because the regulatory element is required every three years, not annually. Option B is incorrect because the regulatory element is required every three years, not every two years. Option C is incorrect because this refers to the annual requirement for CE, not the regulatory element. Therefore, option D is also incorrect. The correct answer is option A, which states that the regulatory element must be completed by the second anniversary of licensing and every three years thereafter.
According to the requirements for continuing education, a representative must complete the regulatory element of their CE by the second anniversary of their licensing date. After that, they are required to complete the regulatory element every two years to maintain their license and stay up-to-date with industry regulations and standards.
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Which part of the baseline project plan contains an outline of the recommended course of action?
Answers
The baseline project plan's introduction includes a summary of the suggested path of action.
Introduction
The goal of the remainder of the proposal will be elucidated in a good beginning; readers shouldn't ever be left in the dark about why specific details are being presented.The beginning of the proposal gives readers a first impression. Once the proposal's main body has been written, writing this part is frequently simpler.
Explain what a project plan is?Project planning is a discipline that deals with how to finish a project in a specific amount of time, typically with specified stages and resources.One method of project planning breaks the process down into the following steps: establishing measurable goals defining the deliverables scheduling
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1. Economics is all about
a. making money.
b. making decisions.
c. government controlling resources.
d. None of the above.
Answers
Will you act immediately on the business opportunity \that you have identified?
Answers
Answer:
Yes because once one has found an opportunity one must seize it.
Explanation:
It is not advisable to act immediately on the business opportunity that is determined.
A business opportunity includes the lease or sale of any specific product, equipment, or service that will help or make it possible for the purchaser-licensee to begin a business. It is important to consider certain other factors before immediately acting on the business opportunity that is determined. They are:
Size of the Market Relationships with potential investors or customers Capability to manage the Cash Flow Persistence and Passion Management skillsThus, we can conclude that one must not act immediately on the business opportunity that is determined before properly analyzing different factors associated with it.
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Dan wants to create a report that contains all fields from a table. Which option on the create tab should he utilize?
Answers
Answer:
Blank Report
Explanation:
FILL THE BLANK. A piece of equipment was purchased for $5,000 and sold two years later for $3,350, using 15% straight line depreciation of acquisition cost, the net gain or loss on the sale is a _________. Assume a 7 year useful life.
Answers
The net gain or loss on the sale is a loss of $1,050.
Given:
Purchase price = $5,000
Salvage value = $3,350
Annual depreciation = 15%
Useful life = 7 years
First, we need to find the annual depreciation:
Depreciation = (Purchase price - Salvage value) / Useful life= (5000 - 3350) / 7= $107.14
The book value at the end of two years would be:
Book value = Purchase price - Depreciation * No. of years= 5000 - 107.14 * 2= $4,785.72
The loss on the sale would be:Loss = Selling price - Book value= 3350 - 4,785.72= -$1,435.72 ≈ -$1,050
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Determine if each scenario is good credit or bad credit.
A FICO credit score of 800.
Always paying a late fee on monthly bills.
Closing all unused accounts.
✓ Not using all of the credit available on your credit cards.
SUBMIT ANSWER
O ASK FOR HELP
Answers
1) unsure
2) bad
3) good
4) good
but im PRETTY sure the first one is bad.. IM NOT SURE!!
Financial literacy includes information about income, banking, loans, and credit cards.
True
False
Answers
1. Suzie’s Flowers purchases a wide variety of houseplants. One of Suzie's favorites, the large split leaf philodendron, costs $13.50 from the wholesaler and requires an additional $1.00 per plant to take care of and then package prior to sale. Suzie's normal markup on houseplants is 55%. What would be the retail selling price of a large split leaf philodendron?
2. A manufacturer sells a 3-person tent to its wholesalers for $59.95. Wholesalers take a markup on selling price of 15% and sell to retailers who take a markup on selling price of 45%. How much does this tent cost you?
Answers
Answer:
$22.475 and $99.96
Explanation:
1. Split-leaf philodendron, costs $13.50 and requires an additional $1.00 per plant to prepare for a sale. The total cost of the plant is $14.50 ($13.50 + $1.00)
If Suzie desires a 55% mark-up, the retail prices will be the cost price plus 55% of the cost.
The cost price of $14.50 is equal to 100%
the retail price will be 155% of $14.50
=155/100 x $14.50
=1.55 x $14.50
=$22.475
2. The manufacturer sells the tent for $59.95.
$59.95 is equivalent to 100%. If wholesalers mark-up is 15%, they will sell the tents to retailers at 115% of $59.95
=115/100 x $59.95
=1.15 x $59.95
=$68.94
Retailers mark up is 45% of $68.94. consumers buy the tents at 145% of $68.94
=145/100 x $68.94
=1.45 x $68.94
=$99.96
Consider what you already know about saving. What are some reasons you should be intentional about saving money? In other words, what should you save for?
Answers
The reasons you should be intentional about saving money is that one may not know when bad or sudden offer will com and as such saved money will help to solve the issue.
What are some reasons you should be intentional save money?There are a lot of reasons to save Money as it is one of the way to Motivate you to start a new adventure. Others are:
Saving help to give a person freedom. Saving gives financial security. Saving implies that one can take any calculated risks.Learn more about saving from
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If someone asks you a question in the workplace, but you don't know what to answer, what is something you should not say
Answers
When you're stumped for an answer in workplace to a question, use this tried-and-true "fail-safe" solution.
What to say in an interview when you're unable to respond to a question?Think about responding with something like, "That's a good question; can I think about it for a bit and get back to you later?" or "Great query! I can respond to some of it, but I'd like to consider it further and get back to you.
What should you say when you don't have the answer to a question?Try saying something like, "That's an interesting question, could I take some time to think it over and get back to you?" or "I can give you a partial answer to that enormous question.
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Question:-
How do you respond when you don't know the answer at work?
A potential negative result of trade agreements is
Answers
agreements is JOB LOSS::
Dawn's credit card company charges 2.5% per month, for any unpaid amount. For the month, Dawn purchased $650.00 worth of goods and services. If she pays a minimum of $50.00 What is the remaining balance?
i need help asap
Answers
Answer:
$615
Explanation:
The interest rate on Dawn's credit card is 2.5%
Purchases for the month are $650.
Payments made in the month is $50.
Balance will be
Purchases balance and the interest on the credit card
Purchase balance : $650-$50 = $600
Interest for the month
=2.5% x 600
=0.025 x 600
=$15
Balance will be $600 + $15= $615
A shopper sees two brands of spaghetti sauce. One is store brand, and the other is a well-known national brand. Even though the two sauces taste extremely similar, the shopper believes the national brand is more valuable. Based on money’s function as a measure of value, which brand would the shopper be willing to pay more for? Why?
Answers
Answer:
The shopper would being willing to pay more for the brand name sauces particularly because of the brand name. If the shopper knows that the brand is trustworthy and well known the chances of them buying it, despite the price, rises.
Explanation:
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