The two broad groupings of information systems control activities are general controls and application controls. General controls include controls: (a) Designed to assure that only authorized users receive output from processing. (b) That relate to the correction and resubmission of faulty data. (C) Designed to ensure that all data submitted for processing have been properly authorized. (d) For developing, modifying, and maintaining computer programs.
Answers
General controls include controls for developing, modifying, and maintaining computer programs. The answer is (d)
General controls are the policies, procedures, and activities that provide a framework for the effective operation of information systems. They apply to all systems components, processes, and data for an organization or an entity.
General controls include access controls, which ensure that only authorized individuals can access and use an organization's systems and data. They also include system software controls, such as those for the development, modification, and maintenance of computer programs, that help to ensure the integrity of the systems and data.
Application controls, on the other hand, are specific controls designed for individual applications to ensure the completeness and accuracy of the processing and data input.
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Related Questions
Suppose that the demand curve for chairs in Euroland is given by QD = 800,000 − 6,000P, and that the supply curve is given by QS = 14,500P - 225,000. The equilibrium price is €50. The government is thinking about imposing a tax of €10 on chairs. The price received by suppliers after the tax is
Answers
Answer:
€57.07
Explanation:
Given that:
The equilibrium price = € 50
Suppose that the government is imposing tax of €10 on chairs;
Then:
QS = 14500(P-10) - 225000
QS = 14500P- 145000 - 225000
QS = 14500P - 370000
Now, we have to equate QD with the new QS
By equating both together, we have:
800000 - 6000P = 14500P - 370000
Collect like terms
800000 + 370000 = 14500P + 6000P
1170000 = 20500P
Making P the subject of the formula;
P = 1170000/20500
P = € 57.07
This implies the price received by suppliers after the tax is €57.07.
Which of the following is not a reason that women have traditionally received less pay for doing the same work as men?
Women have been encouraged to pursue careers in lower paying fields such as teaching and nursing.
Some employers have assumed that women are not as interested in career advancement as men.
Women are not as willing to work as hard or as long as men in order to advance in their careers.
Overall, women have had less education, training, and experience in certain occupations than men.
Answers
Answer:
Women are not as willing to work as hard or as long as men in order to advance in their careers.
Explanation:
2. to compare plastic and paper bags in terms of acquisition of raw materials, manufacturing and processing, use and disposal using the data below: (a) which bag would you choose if you were most concerned about air pollution? (b) if we assume that two plastic bags equal one paper bag, does the choice change? (c) compare the energy required to produce each bag. which bag takes less energy to produce?
Answers
Paper bags are a popular option. No, the decision remains the same if air pollution is an issue. If we are worried about reducing air pollution, we cannot be comforted by money factors or productivity rates.
Regarding sustainability, paper bags offer several advantages over plastic bags. Because they are biodegradable, they may be utilized for activities like composting and are simpler to recycle.
According to a Washington Post investigation, paper manufacture results in 70 percent greater air pollution and 50 times greater environmental pollution than plastic bag production due to the extensive use of hazardous chemicals in the process, making it more dangerous to people and the environment than HDPE bags.
Paper bags are biodegradable and recyclable, but polythene bags are not biodegradable and are detrimental to animals, hence paper bags should be preferred instead.
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IT stands for Information Technician.
A. True
B. False
Answers
Answer:
True
Explanation:
Answer:
False
Explanation:
IT stands for INFORMATION TECHNOLOGY.
Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor $ 219,000 $ 269,000 ? Administrative expenses $ 157,000 $364,000 Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 353,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 58,000 Ending $ 33,000 Raw materials Work in process 2 $ 29,000 Finished goods $ 37,000 ? The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $725,000; the unadjusted cost of goods sold totaled $663,000; and the net operating income was $32,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS Statement Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin 0 Selling and administrative expenses: Selling expenses Administrative expenses 0 Net operating income < Income Statement COGS Schedule >
Answers
a) The income statement includes the cost of goods sold, selling expenses, administrative expenses, and net operating income.
b) The income statement includes the cost of goods sold, selling expenses, administrative expenses, and net operating income.
c) The COGM schedule calculates the cost of goods manufactured by considering the beginning inventory balances, total manufacturing costs added to production, and the ending inventory balances.
a) Sales: Not provided in the given data.
Cost of goods sold: $663,000 (unadjusted cost of goods sold).
Gross margin: Not provided in the given data.
Selling expenses: $219,000.
Administrative expenses: $157,000.
Net operating income: $32,000.
b) COGS Schedule:
Beginning inventory: Raw materials - $58,000, Work in process - $29,000, Finished goods - $37,000.
Total manufacturing costs added to production: $680,000.
Cost of goods available for sale: $725,000.
Ending inventory: Raw materials - $33,000, Work in process - $?, Finished goods - ?.
Unadjusted cost of goods sold: $663,000.
COGM Schedule:
Beginning inventory: Raw materials - $58,000, Work in process - $29,000, Finished goods - $37,000.
Total manufacturing costs added to production: $680,000.
Cost of goods manufactured: $?,
Ending inventory: Raw materials - $33,000, Work in process - $?, Finished goods - ?.
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Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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Use these graphics to answer the question.
An association of medical researchers examined exercise trends among adults.
pls help need an answer fast
Which ratio shows the relationship between the total percent of people who exercised in 2014 to the percent of adults ages 18–24 who exercised in 2016?
47:42
58:45
48:59
48:50
Answers
The ratio that represents the relationship between the total percent of people who did exercise in 2014 compared to the the percent of adults ages 18–24 who exercised in 2016 is 48:59.
What is a ratio?A ratio is the comparison of two figures, this can be done with the past data, or can be done with the budgeted or any competitor. In the example given the data is compared with the past data, base year is 2014 and the current year is 2016.
The ratio that is calculated represents that the total percentage of people were 48% in 2014 and the adults in 2016 as a total represents a percentage of 59% and therefore the ratio is 48:59.
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Which of the following statements are true about penetrance and expressivity? Please make sure to select all correct answer options.Question 14 options: a. Expressivity measures the severity of the phenotype. b. Incomplete penetrance and variable expressivity cannot cooccur for a given allele. c. Penetrance and expressivity of a given allele is affected by both environmental factors and genetic backgrounds of different individuals. d. Penetrance describes the extent to which individuals with a given allele exhibit the phenotype associated with that allele.
Answers
Penetrance and expressivity are two important concepts in genetics that describe the relationship between a genotype and the phenotype that it produces. Penetrance refers to the proportion of individuals with a given genotype who actually exhibit the associated phenotype. Expressivity, on the other hand, refers to the degree or severity of the phenotype in individuals who do exhibit it.
Regarding the statements presented in the question, the following options are true:
a. Expressivity measures the severity of the phenotype.
This statement is true. Expressivity refers to the degree or severity of the phenotype in individuals who exhibit it. For example, in some cases, individuals with a particular genotype may exhibit a mild form of a disease, while in others, the phenotype may be more severe.
In summary, penetrance and expressivity are two important concepts in genetics that describe the relationship between a genotype and the phenotype that it produces. Both are affected by genetic and environmental factors, and they can cooccur for a given allele.
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In Year 1, Aliyah's Boutique (a retail clothing company) sold 11,100 units of its product at an average price of $29 per unit. The company reported estimated returns and allowances in Year 1 of 2.0 percent of gross revenue. Aliyah's Boutique actually purchased 10,730 units of its product from its manufacturer in Year 1 at an average cost of $13 per unit. Aliyah's Boutique began Year 1 with 32,530 units of its product in inventory (carried at an average cost of $13 per unit). Operating expenses (excluding depreciation) for Aliyah's Boutique in Year 1 were $32,530, depreciation expense was $19,360, and interest expense was $8,590. Finally, Aliyah's Boutique's tax rate was 30 percent and Aliyah's Boutique paid of dividend of $3,700 at the end of Year 1. Aliyah's Boutique fiscal year runs from September 1 through August 31. Given this information, compute net income for Aliyah's Boutique for Year 1.
Record your answer as a dollar amount rounded to 0 decimal places; do not include a dollar sign or any commas in your answer. For example, record $23,456.8905 as 23457.
Answers
To compute the net income for Aliyah's Boutique in Year 1, we need to calculate various components of the income statement.
Gross Revenue:
Gross Revenue = Units Sold * Average Price per Unit
Gross Revenue = 11,100 * $29 = $321,900
Returns and Allowances:
Returns and Allowances = Gross Revenue * Estimated Returns and Allowances Rate
Returns and Allowances = $321,900 * 0.02 = $6,438
Net Revenue:
Net Revenue = Gross Revenue - Returns and Allowances
Net Revenue = $321,900 - $6,438 = $315,462
Cost of Goods Sold (COGS):
COGS = Units Purchased * Average Cost per Unit
COGS = 10,730 * $13 = $139,490
Gross Profit:
Gross Profit = Net Revenue - COGS
Gross Profit = $315,462 - $139,490 = $175,972
Operating Expenses:
Operating Expenses = Operating Expenses (excluding depreciation) + Depreciation Expense
Operating Expenses = $32,530 + $19,360 = $51,890
Operating Income:
Operating Income = Gross Profit - Operating Expenses
Operating Income = $175,972 - $51,890 = $124,082
Interest Expense: $8,590
Earnings Before Tax (EBT):
EBT = Operating Income - Interest Expense
EBT =$124,082 - $8,590 = $115,492
Income Tax Expense:
Income Tax Expense = EBT * Tax Rate
Income Tax Expense = $115,492 * 0.3 = $34,647.6
Net Income:
Net Income = EBT - Income Tax Expense
Net Income = $115,492 - $34,647.6 = $80,844.4
Therefore, the net income for Aliyah's Boutique in Year 1 is $80,844 (rounded to the nearest whole dollar).
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article 9 of the code of ethics about written agreements requires realtors® to
Answers
Article 9 of the Code of Ethics about written agreements requires Realtors to make reasonable efforts to reduce their verbal agreements to written agreements.
The National Association of Realtors has a code of ethics that each member must follow. The code of ethics serves as a guideline to ensure that members act professionally and ethically in their dealings with clients. One of the most important provisions in the Code of Ethics is Article 9, which relates to written agreements. Article 9 requires Realtors to make a reasonable effort to reduce their verbal agreements to writing.
This requirement is essential because it helps prevent misunderstandings between Realtors and their clients. By putting their agreements in writing, the parties can avoid confusion over what was agreed upon and have a clear record of their understanding if any disputes arise in the future. Realtors can create written agreements using standard forms approved by their local or state Realtor association or legal counsel. Therefore, Article 9 of the Code of Ethics requires Realtors to make reasonable efforts to reduce their verbal agreements to written agreements.
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Consider the businesses that began in the founders garages? What were the benefits of starting in there garage for these companies ? Would you ever consider starting your business in your garage why or why not
Answers
Some of the benefits of starting their companies in their garage to the businesses were:
Low costs of operations Allows for work at odd hours Comfortable and familiar environmentFor the benefits above given, I would consider starting my business in my garage.
What are the benefits of starting a business in a garage?When you have your business in your own garage, you won't have to pay for things like rent and utilities for the business alone which would save you from costs of operating.
You can also work at the garage in odd hours like the early mornings and late nights without worrying about safety or being too far from home.
Also, you can dress as comfortably as you like because you'll still be home. This will help with creativity.
These are good reasons why I would start my business from my garage.
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Ell us about a time when your attention to detail was critical in preventing a major issue/error
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Tell us about an error instance when your focus on detail was essential in avoiding a significant way is troubleshooting error.
The capacity to concentrate on a particular job while carefully considering and attending to all of its important features might be characterized as attention to detail. An illustration of paying attention to detail is finding and fixing any typos or grammatical problems in an email before sending it.
When describing anything that is more substantial, serious, or crucial than other elements within a group or circumstance, you use the word major. If the situation is casual, use the word "issue." You may use the word "issue" while discussing a political matter or a topic for a discussion. if the circumstance is official.
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Correct Question:
Tell us about a time when your attention to detail was critical in preventing a major issue/error.
measuring deliberative conditions: an analysis of participant freedom and equality in federal open market committee deliberation
Answers
The article titled "Measuring Deliberative Conditions: An Analysis of Participant Freedom and Equality in Federal Open Market Committee Deliberation" examines the levels of participant freedom and equality during deliberations of the Federal Open Market Committee (FOMC).
In this study, the authors aim to assess the conditions under which deliberation occurs within the FOMC, a key decision-making body responsible for monetary policy in the United States. The main focus is on two dimensions: participant freedom and participant equality. Participant freedom refers to the extent to which individuals have the opportunity to express their opinions and contribute to the deliberative process without constraints or bias. Participant equality examines whether all participants are given an equal opportunity to participate and influence the decision-making process.
Through their analysis, the authors shed light on the level of deliberative conditions within the FOMC and assess the extent to which participant freedom and equality are present during their deliberations. This research can provide valuable insights into the democratic functioning of the FOMC and its decision-making processes, highlighting the importance of open and inclusive deliberations in shaping monetary policy. The findings of this study may also have broader implications for understanding the deliberative conditions in other decision-making bodies and the impact of participant freedom and equality on the quality and legitimacy of their outcomes.
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instead of waiting for the semi-annual review, mike's boss likes to give weekly feedback about employee performance. what component of effective feedb
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The component of effective feedback that is reflected in Mike's boss giving weekly feedback about employee performance is "Timeliness."
Timeliness refers to providing feedback promptly and regularly, ensuring that it is delivered in a timely manner. By giving weekly feedback, Mike's boss demonstrates the importance of keeping employees informed about their performance on an ongoing basis rather than waiting for a semi-annual review. This approach allows for more immediate recognition of achievements, identification of areas needing improvement, and adjustments to work methods or goals.
Timely feedback enhances the effectiveness of the feedback process by:
Increasing Relevance: Regular feedback keeps the information fresh and relevant, as employees can immediately link it to recent events or tasks. Waiting for a longer duration between feedback sessions may lead to a loss of context or relevance.
Facilitating Learning and Adaptation: Timely feedback enables employees to make timely adjustments and improvements based on the information provided. It helps them identify areas where they can enhance their performance and take corrective actions promptly.
Enhancing Motivation and Engagement: Frequent feedback provides opportunities for timely recognition and reinforcement of positive behaviors and outcomes. It also helps address any concerns or issues promptly, keeping employees engaged and motivated.
Building Trust and Communication: Regular feedback promotes open and continuous communication between supervisors and employees. It establishes a culture of trust, transparency, and support, where employees feel comfortable seeking guidance and discussing their progress on an ongoing basis.
By giving weekly feedback, Mike's boss demonstrates a commitment to timely communication and recognizes the importance of addressing performance matters in a prompt and consistent manner.
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The _________ was created in order to alert insurer home office underwriters of errors, omissions, or misrepresentations made on insurance applications.
Answers
The MIB was created in order to alert insurer home office underwriters of errors, omissions, or misrepresentations made on insurance applications.
What is medical coverage?Medical and health-related expenses are covered by a type of insurance coverage called health insurance. Regular care, medical emergencies, and chronic illness management are all partially or fully covered by health insurance. In the US, health insurance is frequently offered by employers as a benefit package, while Medicare and Medicaid offer health insurance to the elderly and others with low incomes.
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Which person would most benefit from homeowners insurance?
A) Hilary lives in an apartment with few personal possessions.
B) Karim lives in a dorm
C) Michael and Bryce have a 30-year mortgage.
D) Fran lives in an assisted living facility
Answers
The person would most benefit from homeowners insurance is D) Fran lives in an assisted living facility.
What is insurance?Insurance can be described as the way of managing your risk when someone subscribe to insurance, then the protection against unexpected financial losses is been gotten.
Hence, The person would most benefit from homeowners insurance is D) Fran lives in an assisted living facility.
Therefore , option D is correct.
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Answer:
Fran lives in an assisted living facility
Explanation:
Journalize Smart Touch Learning's closing entries for December 31 in RED order. Record debits first, then credits. Check your spelling carefully and do not abbreviate. Enter account names exactly as provided in the adjusted trial balance. Select the dates from the dropdown provided.
SMART TOUCH LEARNING
Adjusted Trial Balance
December 31, 2016
Balance
Account Title Debit Credit
Cash 35,270
Accounts Receivable 1,700
Office Supplies 290
Prepaid Insurance 1,350
Furniture 13,400
Accumulated Depreciation - Furniture 200
Salaries Payable 4,600
Unearned Revenue 3,400
Common Stock 36,800
Retained Earnings 0
Dividends 4,200
Service Revenue 20,800
Salaries Expense 6,600
Depreciation Expense - Furniture 200
Insurance Expense 450
Utilities Expense 230
Rent Expense 2,000
Supplies Expense 110
Total 65,800 65,800
Answers
Journalize Smart Touch Learning's closing entries for December 31 in RED order. Record debits first, then credits.
Debit entries: Debit Service Revenue, Income Summary, and Retained Earnings for their respective amounts.Credit entries: Credit Income Summary, followed by the expenses (Salaries Expense, Depreciation Expense - Furniture, Insurance Expense, Utilities Expense, Rent Expense, and Supplies Expense).Final credit entry: Credit Dividends to close the dividends account.To journalize Smart Touch Learning's closing entries for December 31 in RED order, follow these steps:
1. Record the debit entries first, starting with the balances in the temporary accounts (revenues and expenses) and ending with the balance in the income summary account.
- Debit Service Revenue for $20,800
- Debit Income Summary for $9,090 (this is the sum of all the expenses and revenues)
- Debit Retained Earnings for $9,090
2. Record the credit entries next, starting with the income summary account and ending with the balances in the temporary accounts.
- Credit Income Summary for $9,090
- Credit Salaries Expense for $6,600
- Credit Depreciation Expense - Furniture for $200
- Credit Insurance Expense for $450
- Credit Utilities Expense for $230
- Credit Rent Expense for $2,000
- Credit Supplies Expense for $110
3. Record the final credit entry to close the dividends account.
- Credit Dividends for $4,200
After these entries are posted, the balances in the temporary accounts will be zero and the net income or loss for the period will be reflected in the Retained Earnings account.
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T/F all tax gains and losses are ultimately characterized as either ordinary or capital.
Answers
True. All tax gains and losses are ultimately characterized as either ordinary or capital. The characterization depends on the specific nature of the gain or loss and the applicable tax rules.
Ordinary gains and losses typically arise from regular business activities or the sale of assets held for a short period of time. They are subject to ordinary income tax rates. On the other hand, capital gains and losses are associated with the sale or disposition of capital assets, such as stocks, bonds, real estate, or certain types of investments. Capital gains are generally taxed at lower rates than ordinary income. The specific determination of whether a gain or loss is ordinary or capital depends on various factors and should be assessed in accordance with the relevant tax regulations and guidelines.
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THIS IS URGENT- How did Jeff bezos change the economy when he created Amazon (I need when he first created it up to now!)
Answers
Jeff Bezos when he created Amazon had a tremendous impact in the economy as he created jobs more than any other company had created before and also helped in achieving price stability.
What is Amazon?
Digital streaming, cloud computing, online advertising, and artificial intelligence are the main areas of interest for the American multinational technology business Amazon.com. One of the most valuable brands in the world, it has been called "one of the most significant economic and cultural forces in the globe." Along with Alphabet, Apple, Microsoft, and Meta, it is one of the Big Five American technological firms. On July 5, 1994, Jeff Bezos launched Amazon from his garage in Bellevue, Washington. It began as an online book store but has since grown to include many more product categories.
Hence, Amazon contributed to the economy in terms of sales, price stability and creation of jobs and also providing a alternate option for marketplace in a economy.
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1. Describe what is meant by wealth?
2. What is wealth and how do you think it relates to budgeting?
3. Identify a wealthy person; a.what makes this person wealthy?
b.How did they earn their wealth?
Answers
Answer:
All the answers of the asked question are discussed below in detailed explanation.
Explanation:
Wealth includes the evaluation of all the items of merit occupied by an Individual, society, corporation, or nation. ... Fundamentally, wealth is the collection of limited resources. Particular people, corporations, and countries are assumed to be wealthy when they are able to acquire many necessary resources or goods.
What two activities are part of the development step of a marketing research plan?.
Answers
Marketing research plan is an integral part of marketing, activities of a market research plan include market survey and outlining actions to be taken.
What is marketing research plan?Marketing research plan is a document that contains information concerning the potential market.
Activities of a market research plan include,
Market survey to know potential marketOutlining actions to be taken to be at advantage of potential market.Therefore, activities of a market research plan include market survey and outlining actions to be taken.
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what are the effect of enterprise/business on environment? write them
Answers
Answer:
Varies
Explanation:
They can go against natural resources.
(Table: Peanut Butter and Jelly Economy). How much of the increase in nominal GDP between 2018 and 2019 was due to inflation?a. 31.25%.
b. 18.75%.
c. 12.5%. d. 4%.
Answers
31.25% is the increase in nominal GDP between 2018 and 2019 due to inflation. Thus, option A is appropriate.
GDP determines the monetary value of the consumable final items and services produced in a country over a specific time period (for example, a quarter or a year). It considers each item wholly produced within a nation's boundaries.
Gross domestic product (GDP) is a financial measure of the total market value of all finished goods and services produced during a specific time period. The government and a single nation most frequently use GDP to gauge the strength of its economies.
Thus, option A is correct.
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To calculate the number of montly payments required to pay off a loan or meet an investment goal, use the _______ function.
Answers
To calculate the number of monthly payments required to pay off a loan or meet an investment goal, use the nper function.
In finance, lending is the lending of money by one or more individuals, organizations, or other entities to other individuals and organizations, etc. The beneficiary incurs a debt and usually has to pay interest on that debt until that debt is also repaid. to repay the principal borrowed.
The promissory note will typically state, among other things, the principal amount of the loan, the interest rate charged by the lender, and the date of repayment. A loan involves reallocation of assets in question over a period of time, between the lender and the borrower.
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Which of the following is not a component of good customer service?
Attendance at store trainings
A positive attitude
Asking closed-ended questions to get a definitive yes or no answer
Acknowledge the customer quickly
Answers
Answer:
Attendance at store trainings
Explanation:
Customer service is providing prompt, useful, and professional support to existing and potential customers. Good customer service results in happy, satisfied, and loyal customers. Customer service is done through face to face interactions, telephone calls, and through online channels.
Employees or anyone interacting with customers must display a positive attitude, ask closed-ended questions, and acknowledge the customers quickly. These traits will make the customer feel welcomed and appreciated. Attendance at stores trainings is good for sales but does not add much value to the quality of customer service.
Asia Company expects to have a cash balance of $10,000 on January 1, 2020. Relevant monthly budget data for the first 2 months of 2020 are as follows. Collections from customers: January $120,000, February $200,000. Payments for direct materials: January $60,000, February $95,000. Direct labor: January $30,000, February $45,000. Wages are paid in the month they are incurred. Manufacturing overhead: January $26,000, February $41,000. These costs Include depreciation of $1,000 per month. All other overhead costs are paid as Selling and administrative expenses: January $15,000, February $20,000. These costs are exclusive of depreciation. They are paid as incurred. Sales of marketable securities in January are expected to realize $10,000 in cash. Asia Company has a line of credit at a local bank that enables it to borrow up to $25,000. The company wants to maintain a minimum monthly cash balance of $25,000 Instructions Prepare a cash budget for January and February Date Asia Company Februrary 1 2 3 14 5 on 16 Z 18 Asia Company Cash Budget For the Two months Ending February 29, 2020 1 January 2 Beginning Cash Balance 3 Add: Receipts 4 Collections from customers 5 Sale of marketable securities 6 Total receipts 7 Total available cash & Less: Disbursements 9 Direct materials 10 Direct labor 11 Manufacturing overhead 12 Selling and administrative expenses 13 Total disbursements 14 Excess (deficiency) of available cash over cash 15 disbursements 16 Financing 17 Borrowings 18 Repayments 19 Ending cash balance 20 21 22 23 9 10 11 12 13 14 15 ch 16 17 18 19 20 2 21 22 23
Answers
Based on the provided information, here is the cash budget for Asia Company for January and February 2020:
Asia Company Cash Budget for the Two Months Ending February 29, 2020
January February
-------------------------------------------------------------------------------------
1. Beginning Cash Balance $10,000 $25,000
2. Add: Receipts
a. Collections from customers $120,000 $200,000
b. Sale of marketable securities $10,000
Total Receipts $130,000 $200,000
Total Available Cash $140,000 $225,000
3. Less: Disbursements
a. Direct materials $60,000 $95,000
b. Direct labor $30,000 $45,000
c. Manufacturing overhead $26,000 $41,000
d. Selling and administrative expenses
(excluding depreciation) $15,000 $20,000
Total Disbursements $131,000 $201,000
4. Excess (Deficiency) of available cash
over cash disbursements $9,000 $24,000
5. Financing
a. Borrowings $0
b. Repayments $0
6. Ending Cash Balance $19,000 $49,000
Note: The amounts in the cash budget are in thousands (in $000).
1. The beginning cash balance for January is $10,000, which is the expected cash balance at the beginning of the year.
2. Receipts:
- Collections from customers are $120,000 for January and $200,000 for February.
- Sales of marketable securities in January will contribute $10,000 in cash.
- The total receipts for each month are calculated by summing the collections and sales of marketable securities.
- The total available cash is calculated by adding the beginning cash balance to the total receipts.
3. Disbursements:
- Direct materials, direct labor, manufacturing overhead, and selling and administrative expenses are the relevant costs for each month.
- The total disbursements for each month are calculated by summing the individual costs.
4. The excess (deficiency) of available cash over cash disbursements is calculated by subtracting the total disbursements from the total available cash.
5. Since the minimum monthly cash balance is set at $25,000, there is no borrowing or repayment activity needed.
6. The ending cash balance is calculated by adding the excess (deficiency) of available cash over cash disbursements to the beginning cash balance.
Please note that the figures provided are in thousands, as indicated by the "in $000" note, and should be adjusted accordingly for the actual cash amounts.
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(b Who is likely to pay lower taxes for the same level of income : A homeowner who pays $ 1,000 per month on a mortgage loan or a renter who pays $ 1,000 a month in rent ?
Answers
Answer:
The renter
Explanation:
The renter will not be taxed as the property in which he or she is staying is not his or her ownership. The government of most of the nations see the renter as a marginalized individual in relation to a home owner. The homeowner have to pay the taxes on the propriety, however, there will be deduction on such payments. Hence the renter will pay a lower tax.
verizon is thinking about building a new set of cell towers. the cost of building these towers today would be 195 million dollars. the new towers would then increase future cash flows by 38 million dollars in year 1, 60 million dollars in year 2, 97 million dollars in year 3, and 112 million dollars in year 4. suppose the cost of capital is 13%. what is the profitability index of this project?
Answers
The profitability index of this project is 1.074.
The profitability index of a project is calculated as the present value of its future cash flows divided by its initial cost. The cost of building the new cell towers is $195 million and the cash flows are $38 million in year 1, $60 million in year 2, $97 million in year 3, and $112 million in year 4.
Therefore, we need to calculate the present value of each of these cash flows and then add them up. To calculate the present value of future cash flows, we use the formula:
PV = CF / (1 + r)^n
where PV is the present value of the cash flow, CF is the cash flow in a future period, r is the cost of capital, and n is the number of years in the future.
Using this formula, we get:
PV of year 1 cash flow = $38 million / (1 + 0.13)^1 = $33.63 million
PV of year 2 cash flow = $60 million / (1 + 0.13)^2 = $46.58 million
PV of year 3 cash flow = $97 million / (1 + 0.13)^3 = $64.90 million
PV of year 4 cash flow = $112 million / (1 + 0.13)^4 = $64.63 million
Now, we add up these present values to get the total present value of future cash flows:
Total PV of future cash flows = $33.63 million + $46.58 million + $64.90 million + $64.63 million= $209.74 million
Finally, we divide this by the initial cost of the project to get the profitability index:
Profitability index = Total PV of future cash flows / Initial cost= $209.74 million / $195 million= 1.074
Therefore, the profitability index is 1.074.
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Note that common activities are listed toward the top, and less common activities are listed toward the bottom. According to O*NET, what are common work activities performed by Construction Carpenters? Check all that apply. O. Inspecting equipment, structures, or material O. Writing computer programs to perform calculations O. Using knowledge of historical events and their effects on cultures O. Performing general physical activities O. Getting information O. Speaking and writing in a foreign language
Answers
Answer:
The answer is "Choice 1,4, and 5"
Explanation:
The numbering of the choices are missing, which can be defined in the attached file please find it.
Carpenters developers are restoring systems or structures for wooden buildings, like stairs, windows, and doors. It uses the equipment for cutting and shaping wood, plastic, fiberglass, or wallboard. As per O*NET, Building Carpenters could identify the typical work tasks as following:
Equipment, frameworks or material inspection Overall physical activity Knowledge obtainedAnswer:
2,3,4,5
Explanation:
C. Include adjuting entrie uch a the following:
i. Deferral Expene
ii. Deferral Revenue
iii. Accrued Expene
iv. Accrued Revenue
d. Prepare an adjuted the trial balance
e. Develop the Financial Statement for XYZ company
f. Prepare cloing entrie and potcloing trial balance
Answers
Correct answer is option iv- accrued revenue. Nearly all adjusting entries involve a minimum of one stability sheet account and a minimal of one income declaration account.
What is the adjusting entry for accrued revenue?On the financial statements, gathered income is mentioned as an adjusting journal entry below modern assets on the balance sheet and as earned revenue on the profits assertion of a company. When the price is made, it is recorded as an adjusting entry to the asset account for gathered revenue.
What is now not blanketed in adjusting entry?Cash Accounts
When adjusting journal entries, you typically will in no way need to create an adjusting journal entry for the cash account. Accountants debit cash at some point of the month to file inflows of money and savings the cash account to mirror cash going out of the business.
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