Answers
It is true that thanks in part to the communication advancements, international trade has stabilized and become fairly evenly distributed across all countries of world.
What is international trade?International trade refers to exchange of goods and services between the countries. It is the backbone of the global economy and allows nations to specialize in producing certain goods and services while importing others. International trade is facilitated through the use of international agreements, tariffs, quotas, and other trade policies. Countries engage in international trade to increase their economic output, create jobs, and access new markets. It also allows countries to benefit from comparative advantages and economies of scale, leading to increased efficiency and lower prices for consumers. However, international trade can also lead to negative effects such as job losses in certain industries, exploitation of workers, and environmental degradation.
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Related Questions
Best practices help inventory managers control their inventory. Which of the following is an inventory management best practice?
Review safety stock levels on an annual basis
Purchase high volumes of trendy items
Know your most productive inventory and buy more of it
Keep sales and operations separate from inventory management
Answers
Answer:
qwowjphpiopfhaf
Explanation:
ddd
Review safety stock levels on an annual basis. Thus the option A is correct.
What is inventory control ?The control over the inventory means the activity of checking a shop stop. It a process to ensure that you have the right amount of supply available within the business.
The inventory control also relates to the stock control. Other factors of inventory control include future forecasting and supply chain management. The production control and financial flexibility.
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The you attitude is a writing style that emphasize readers rather than writer
Answers
The "you view" examines and highlights the reader's viewpoints and interests. The writer is more likely to aid the reader in understanding material or complying with a request when the reader's interest or benefit is emphasized.
Using the terms you or your instead of we, our, I, and mine is a common, though not necessarily required, part of adopting the "you" view. Take a look at the following line, which puts more emphasis on the writer's and the organization's (we) requirements than the reader's.
Although the word "your" appears twice in the phrase, the first clause hints that the point of view is on the writer's requirement for the invoice in order to proceed with the payment. We view is the issue; the word "we" itself is not.
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What is a good job people do you hear me
Answers
Answer:
A lawyer is a good job
Explanation:
lol
whne you try your best and do the best possible you can, but without harmnig anyone or yourself, emotionally or physically
Identify and analyze a department in your organization that experiences frequent equipment or process failures. If you are not currently associated with an organization, conduct an Internet search or use the Hunt Library resource to find a firm. Discuss what the organization can do to improve the reliability of the equipment or processes and whether some of the improvement could come through enhanced maintenance.
Answers
Answer:
Find the explanation below.
Explanation:
The name of my organization is Prime Plc. known for the production of confectionaries. The Production Department in my organization has been experiencing frequent equipment failures quite recently. A close investigation showed that the delays were caused by a breakdown of the sugar mills, mixers and, coating machines. This has resulted in delays in the production process. To improve these failures, I believe that the organization should:
1. Employ Technicians who can quickly carry out repair work on these machines when they breakdown instead of outsourcing the repair work for this would take a longer amount of time to get the machines up and running.
2. Introduce the periodic maintenance of these machines. Machines are subject to wear and tear, so I would suggest that the maintenance of these machines is carried out within intervals of three months.
3. Train the production personnel on the proper usage of these machines. Production personnel should be updated on current and effective ways of handling machines so as to guarantee their safety and longer use.
4. Make provisions for backup machinery and equipment. The organization would do well to purchase backup equipment especially for machines that the organization cannot do without so that in the event of an equipment failure, the production process would not be stalled.
When these measures are considered, there would be a significant improvement in the production department.
An investor receives $1,100 in one year in return for an investment of $1,000 now. Calculate the percentage return per annum with: (a) Annual compounding (b) Semiannual compounding (c) Daily compounding (d) Continuous compounding
Answers
You just purchased some Treasury bonds that were quoted at 101:12. What is the market price of your bonds if you purchased $900 in terms of face value?
Market price = $
$220,000 worth of Treasury bonds has a bid price quote of 109:17 and an asked quote of 109:18. In dollars, what is the value of the bid-ask spread on this bond?
Responses
$687.50
$22.00
$68.75
$220.00
Answers
1. The market price of your bonds if you purchased $900 in terms of face value is $910.08.
2. In dollars, the value of the bid-ask spread on this bond is B. $22.00.
What is the bid-ask spread?The bid-ask spread is the percentage difference between the bid price and the ask price of a security.
The ask price is the lowest price the security seller will be willing to sell. On the other hand, the bid price is the highest price that the buyer is willing to buy the security.
Face value of bonds = $900
Quoted rate = 101.12
Market price = $910.08 ($900 x 1.0112)
The worth of Treasury bonds = $220,000
Bid price quote = 109:17
Asked quote = 109:18
Bid-ask spread = 0:01% (109:18 - 109:17)
Value of the bid-ask spread = $22.00 ($220,000 x 0.01%)
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Which Airlines lounges are the best ?
Answers
Reason:
Air France’s first class is the whole package. Not only does Air France offer one of the world’s best first class inflight products, but the carrier’s ground experience in Paris is equally impressive.
If you’re connecting in Paris, you’ll be picked up at your plane and driven to the first class lounge, and then later on will be driven from the first class lounge to your connecting flight.
There’s so much to love about the Air France first class lounge, though my favorite thing is probably the restaurant, which has an Alain Ducasse menu. In my experience it’s the best food offered in any airline lounge in the world. It’s not just that the food quality is excellent, but the service and presentation are equally good.
Hopefully this helps!
Answer:
Air France La Première Lounge, Paris is the first best Airline lounge in the World.
Explanation:
The Air France La Première Lounge gives its customer one of the fashionable flying experiences in the world, as it includes freshening up the cozy cocktail bar to be brighter and more inviting, adding semi-private relaxation areas and installing new pieces of art.
In addition to having one of the best first class inflight experiences available, Air France also provides an outstanding ground experience in Paris. Best food is also offered at the restaurant there.
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an entrepreneur worked in a certain industry for 8 years to generate the business idea to start his own enterprise the entrepreneur used his own
Answers
An entrepreneur utilized his own experience to develop the business concept to launch his own company after working in a certain field for 8 years.
Contrary to an entrepreneur who establishes a business from scratch, who starts a business using an idea or concept that already exists?An entrepreneur is a person who creates a business from an existing idea and sells goods and services to customers. Entrepreneur is a term used to describe a person who starts a company with a fresh idea or concept and engages in commercial activities.
What actions would a business owner that is actively seeking new possibilities take?Entrepreneurship is the activity of a person who is continually looking for new things and converting those ideas into lucrative prospects by accepting risk and uncertainty in the business.
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The complete question is:
An entrepreneur worked in a certain industry for 8 years to generate the business idea to start his own enterprise the entrepreneur used his own _______
One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization buying
advertising is often technical in nature.
promotions of all kinds are avoided.
price is firmly quoted and attempts at negotiation are considered bad form.
distribution is of negligible importance.
product quality is assumed among sellers and is rarely a buying criteria.
Answers
One way that marketing mix characteristics differ for organizational buying compared to consumer buying is that for organization buying, advertising is often technical in nature is advertising is often technical in nature. Option (A) is correct.
What is a Marketing mix?The marketing mix classifies the set of actions, or tactics, which is used by a company to promote its brand or product in the market. The 7Ps of the marketing mix are product, pricing, place, promotion, physical evidence, people, and processes.
Consumers purchase many commodities to use to satisfy their needs. Organizational buyers buy limited goods to use to conduct business. Unlike the consumer buying process, organizational buying involves decision-making by a group of people and enforcing rules for making decisions.
Therefore, Option (A) is correct.
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Silver Springs Company has an unfunded retiree health care plan. Each of the company's four employees has been with the organization since its inception at the beginning of 2020. As of the end of 2021, the actuary estimates the total net cost of providing benefits to employees during their retirement years to have a present value of $196,000. Each of the employees will become fully eligible for benefits after 28 more years of service, but aren't expected to retire for 30 more years. The interest rate is 8%. Required: 1. What is the expected postretirement benefit obligation at the end of 2021? 2. What is the accumulated postretirement benefit obligation at the end of 2021?
Answers
Answer:
1. The expected post-retirement benefit obligation at the end of 2021 is $196,000, the present value of total net costs of providing health care benefits.
2. Calculation of the accumulated post-retirement benefit obligation at the end of 2021 is as below:
APBO = EPBO * Full eligibility period / Attribution period
APBO = $196,000 * 2 / (2+28)
APBO = $196,000 * 2/30
APBO = $13066.66666666667
APBO = $13,066.67
Thus, accumulated post-retirement benefit obligation at the end of 2021 is $13,066.67.
TRUE FALSE Accrual basis accounting recognizes (equity/revenues/expenses) when the service or product is delivered and records (revenues/expenses/liabilities) when (incurred/paid) in order to adhere to the matching principle.
Answers
Accrual basis accounting recognizes revenues when the service or product is delivered and records expenses when incurred in order to adhere to the matching principle.
What is accounting, for instance?Accounting is the process of documenting a business's financial transactions. These transactions are compiled, examined, and reported to oversight organisations, regulatory bodies, and tax collection organisations as part of the accounting process. The measuring, processing, and sharing of financial and non-financial information regarding economic entities like enterprises and corporations is known as accounting, also known as accountancy. The three types of accounting that a corporation might use to track its income are managerial accounting, financial accounting, and cost accounting.
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Hale’s TV Productions is considering producing a pilot for a comedy series in the hope of selling it to a major television network. The network may decide to reject the series, but it may also decide to purchase the rights to the series for either one or two years. At this point in time, Hale may either produce the pilot and wait for the network’s decision or transfer the rights for the pilot and series to a competitor for $100,000. Hale’s decision alternatives and profits (in thousands of dollars) are as follows:
State of Nature
Decision Alternative
Reject, s1
1 Year, s2
2 Years, s3
Produce pilot, d1
-100
50
150
Sell to competitor, d2
100
100
100
The probabilities for the states of nature are P(s1) = 0.20, P(s2) = 0.30, and P(s3) = 0.50. For a consulting fee of $5000, an agency will review the plans for the comedy series and indicate the overall chances of a favorable network reaction to the series. Assume that the agency review will result in a favorable (F) or an unfavorable (U) review and that the following probabilities are relevant:
P(F) = 0.69
P(s1 | F) = 0.09
P(s1 | U) = 0.45
P(U) = 0.31
P(s2 | F) = 0.26
P(s2 | U) = 0.39
P(s3 | F) = 0.65
P(s3 | U) = 0.16
Construct a decision tree for this problem.
What is the recommended decision if the agency opinion is not used? What is the expected value?
Answers
Answer:
To construct the decision tree, we can follow these steps:
1. Start with the initial decision nodes representing the two decision alternatives: "Produce pilot" (d1) and "Sell to competitor" (d2).
2. Assign the payoffs for each decision alternative under each state of nature.
3. Add chance nodes for each state of nature and connect them to the corresponding decision alternatives.
4. Assign the probabilities of each state of nature at the chance nodes.
5. Calculate the expected payoffs at each chance node by multiplying the payoffs with their respective probabilities and summing them up.
6. Determine the optimal decision by comparing the expected payoffs at the initial decision nodes.
Here is the decision tree for this problem:
| Produce pilot (d1)
| -100
|____________
/|\
/ | \
/ | \
/ | \
P(F) = 0.69 / | \ P(U) = 0.31
/ | \
/ | \
/ | \
/ | \
s1 / | \ s2
/ | \
/ | \
/ | \
/ | \
/ | \
50 | F U F | 100
| |
| |
| |
| s3 | s3
| |
150| F | 100
|_______________________________|
If the agency opinion is not used, the recommended decision would be to produce the pilot (d1) since it has a higher expected value compared to selling to the competitor (d2).
To calculate the expected value:
Expected value (d1) = (-100 * P(s1 | F) * P(F)) + (50 * P(s2 | F) * P(F)) + (150 * P(s3 | F) * P(F))
= (-100 * 0.09 * 0.69) + (50 * 0.26 * 0.69) + (150 * 0.65 * 0.69)
= -6.93 + 8.97 + 66.88
= 68.92
Expected value (d2) = (100 * P(s1 | U) * P(U)) + (100 * P(s2 | U) * P(U)) + (100 * P(s3 | U) * P(U))
= (100 * 0.45 * 0.31) + (100 * 0.39 * 0.31) + (100 * 0.16 * 0.31)
= 13.95 + 12.09 + 4.96
= 30
Comparing the expected values, the recommended decision is to produce the pilot (d1) with an expected value of 68.92.
1. WHO CAN DO AFFILIATE MARKETING?
Answers
Answer:
anyone
Explanation:
is this the only question?
Monique has held several different positions while attending high school. She has worked in retail sales, as a server at a restaurant, and also as a phone-in customer support representative for a technical company. Which career pathway in the Business, Management, and Administration career cluster would Monique’s experience be best suited for?
Marketing
Human Resources
Management
Business Analysis
Answers
Answer:
Marketing
Explanation:
since she has worked as a server and phone in customer support marketing would be better
You are valuing an investment that will pay you $23,000 per year for the first 8 years, $27,000 per year for the next 12 years, and $53,000 per year the following 12 years (all payments are at the end of each year). If the appropriate annual discount rate is 10.00%, what is the value of the investment to you today?
a. $203,969.69
b. $262,205.54
c. $1,144,000.00
d. $762,183.00
e. $1,273,500.80
Answers
Answer:
Total PV= $262,205.54
Explanation:
Giving the following information:
Discount rate= 10%
We need to calculate the present value of each cash flow, and then the total present value. We will start from the lasts payments to the firsts.
To calculate the present value, first, we need to determine the value at the moment of each change in cash flow:
PV= A*{(1/i) - 1/[i*(1 + i)^n]}
A= annual cash flow
53,000 for 12 years:
PV= 53,000*{(1/0.1) - 1/[0.1*(1.1^12)]}
PV= $361,125.67
27,000 for 12 years:
PV= 27,000*{(1/0.1) - 1/[0.1*(1.1^12)]}
PV= $183,969.68
23,000 for 8 years:
PV= 23,000*{(1/0.1) - 1/[0.1*(1.1^8)]}
PV= $122,703.30
Now, the value today of each part:
PV= FV / (1 + i)^n
PV1= 361,125.67 / (1.1^20)= $53,679.03
PV2= 183,969.68 / (1.1^8)= $85,823.21
PV3= 122,703.3
Total PV= $262,205.54
What document is a formal letter explaining why you are seeking a position?
cover letter
recommendations
resume
transcript
Answers
resumes are used to show what your previous professions/jobs were, they can also show someone your skills and talents
HURRY Unfair treatment of job applicants because they look like they are from a different country
Answers
Age discrimination
Ethnic discrimination
Gender discrimination
Religious discrimination
Answers
Answer:
ethnic discrimination
Explanation:
it cant be the other if the unfair treatment is due to how somebody looks due to being from a different country
Answer:
ethnic discrimination
Explanation: Got it right on my test!
In business it's accurate to say that the green movement
Answers
In business it's accurate to say that the green movement has created jobs.
What is the green movement in business?
One of his top trends in business is the "Go Green" movement, which encourages managers and employees to adopt sustainable and environmentally friendly practices in the workplace. Businesses of all shapes and sizes are striving to reduce their negative impact on the environment by becoming more environmentally friendly.
Why is it important to be environmentally conscious in business?Being environmentally friendly has several advantages for businesses. You can reduce costs, improve efficiency and create a healthier workplace. Intangible benefits include improved brand reputation, increased customer loyalty, and improved employee morale.
What is the Green Movement and why is it important?The "green movement" is currently sweeping the nation as a social movement that draws attention to environmental conservation. This includes the current overall state of the environment and all the people in it.
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Is there any company or firm that doesn't use CRM?
May i know the name of that company?
Answers
Answer:
Choudhary group of company
2. Ernesto purchased a used car for $6800. He paid 64% sales tax. How much tax did he pay?
Answers
Ernesto payed $ 4352 in tax
Amanda Winter worked as a public engagement coordinator at Safe Food Alliance until three months ago when her manager, Laura Morris, promoted her to the position of a sustainable food campaigner. However, soon after this, Laura noticed that Amanda was facing major difficulties in achieving campaign milestones and the project was falling behind schedule due to her lack of performance. Which of the following, if true, would most strengthen the argument that Laura was influenced by the halo effect in her decision to promote Amanda? A) Laura is known to micromanage most of her projects. B) Laura uses cultural stereotyping in order to speed up the process of decision making. C) Laura has made good hiring decisions in the past and is known to be an unbiased judge of character. D) Laura sat in on only one of Amanda's presentations prior to giving her the promotion. E) Laura worked closely with Amanda over a period of eight months. Choose the right answer and then explain why with maximum 250 words
Answers
Answer: D) Laura sat in on only one of Amanda's presentations prior to giving her the promotion.
Explanation:
The Halo Effect refers to a scenario where a person lets the impression they get of someone or something in one area influence their perceptions of how that person or thing would react in another area.
If Laura indeed sat in on only one of Amanda's presentations prior to giving her the promotion and on this presentation, Amanda gave a stellar performance prompting Laura to believe that she was good in all her other presentations even if she wasn't then this would qualify for the Halo Effect.
Laura should have sat through more of Amanda's presentations to get a better impression of her before she promoted her.
2. Consider the following CVP analysis related with historical data from a company that makes an unusual type of Soap. This product market is characterized with high completion that as more units are produced competitors jump into the market, and the market price starts to declines. The company using spread sheet application that contains statistical functions determined the formulas given under for both the total revenue curve and the total cost curve.
R(x) = (–X 2 ÷ 100) + 10x-------------------------------------(1)
C(X) = 700 + 2X----------------------------------------(2)
Questions
A. Compute breakeven units. Suggest the possible units to be produced by the company , and discuss the cases where the company prefer among the alternatives of outputs to be produced at breakeven point.
B. Illustrate your analysis using a graphic technique for the CVP-analysis.
Answers
Answer:
A. To compute the breakeven units, we need to find the point where the total revenue equals the total cost, or R(x) = C(x). Substituting equations (1) and (2), we get:
(-x^2/100) + 10x = 700 + 2x
Simplifying and rearranging, we get:
-x^2/100 + 8x - 700 = 0
Multiplying both sides by -100 to eliminate the fraction, we get:
x^2 - 800x + 70000 = 0
Using the quadratic formula, we get:
x = (800 ± sqrt(800^2 - 4(1)(70000))) / 2(1)
x = (800 ± 400) / 2
x = 600 or 200
Therefore, the breakeven units are either 200 or 600.
If the company produces 200 units, it will break even but will not maximize profits. If it produces 600 units, it will also break even but will be operating at its maximum profit point. The company could choose to produce more than 600 units, but it would then incur losses due to the decreasing market price.
B. To illustrate the analysis using a graphic technique, we can plot the total revenue and total cost curves on the same graph.
First, we can solve for the total revenue and total cost at different levels of output, such as 0, 100, 200, 300, 400, 500, 600, 700, and 800 units, and then plot the points on a graph. Alternatively, we can use the equations (1) and (2) to generate the curves directly.
The total revenue curve is given by equation (1), which is a quadratic equation with a downward slope. The total cost curve is given by equation (2), which is a straight line with a positive slope. The breakeven point is where the two curves intersect.
Here is a graph that illustrates the CVP analysis:
As we can see from the graph, the breakeven point occurs at x = 200 and x = 600, where the total revenue curve intersects with the total cost curve. The point (200, 900) represents a breakeven point, but it is not optimal for profit maximization. The point (600, 1900) represents the optimal production level for profit maximization, where the company can break even and maximize profits.
Jake paid $9840 in interest on his interest-only home loan last year. If
his interest rate was 7%, how much was the balance on his loan?
Answers
The principal balance of the loan comes out to be $140,571 when the yearly interest on the loan is $9,840 and the rate of interest of 7%.
What is a loan?The loan is an amount taken by the borrower from the lending party and promised to pay the loan with interest after an agreed period of time.
Given values:
Annual interest on a loan: $9,840
Interest rate: 7%
Time period: 1 year
Computation of principal value on loan:
\(\rm\ Principal \rm\ Value =\frac{\rm\ Annual \rm\ Interest \rm\ on \rm\ Loan}{\rm\ Interest \rm\ Rate \times \rm\ Time \rm\ Period}\\\rm\ Principal \rm\ Value=\frac{\$9,840}{0.07 \times 1 \rm\ year }\\\rm\ Principal \rm\ Value=\$140,571\)
Therefore, when the annual interest is $9,840 at the rate of interest of 7%, then the value of the principal amount is $140,571.
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Select the correct answer.
Which is the best investment option for a person who wants to make a long-term, tax-free investment?
A. traditional IRA
B. Roth IRA
C. 401(k)
D. money market account
Answers
Answer:
b
Explanation:
Roth IRA is the correct answer
Answer:
It's B. Roth IRA because ive done that question with my cousin.
Peterson began saving $10 per week that she deposited every month in her money market account, earning 4.25% and compounding monthly. If she continues this practice, how much will she have after 10 years
Answers
The amount that Peterson will have after 10 years is $5,968.29.
Future Value FormulaThe future value of Petersoon's investment can be computed using the future value formula below:
FV = PV(1+r)^{n}
FV = future value
PV = present value
r = annual interest rate
{n} = number of periods interest held
The future value can also be determined using an online finance calculator as follows:
Data and Calculations:Savings per week = $10
Deposit per month = $40 ($10 x 4)
Interest rate = 4.25% compounded monthly
Period of investment = 10 years
N (# of periods) = 120 (12 x 10 years)
I/Y (Interest per year) = 4.25%
PV (Present Value) = $0
PMT (Monthly Deposit) = $40
Results:
Future Value (FV) = $5,968.29
Sum of all periodic payments = $4,800.00
Total Interest = $1,168.29
Thus, the amount that Peterson will have after 10 years is $5,968.29.
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which of the following items are likely to be normal goods for a tropical customer? which is likely to be inferior goods?
a) Expensive perfume
b) paper plates
c) Secondhand clothing
d). Overseas trips
Answers
Even though there are many state-owned businesses in China, many Western businesses feel that should still invest in the country because__
the nation is moving toward a market-based system.
Answers
Even though there are many state-owned businesses in China, many Western businesses feel that should still invest in the country because the nation is moving toward a market-based system.
In economic and business, A market-based corporate governance system generally can be defined as a market economic system that relies on investors to exert influence on the management of the company. It defines the responsibilities of the different participants in the company, including shareholders, the board of directors, management, employees, suppliers, and customers. The example of county that applied market based corporate government system are England and the United States.
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Nico is interested in buying a franchise from Oz Inc. For Nico to make an informed decision concerning this purchase, Oz must disclose in writing or online:a.general estimates of costs and sales, but not the basis for them.b.material facts such as the basis of projected earnings figures.c.no information.d.the money the franchisor makes from all its franchise sales.
Answers
Answer: b.material facts such as the basis of projected earnings figures.
Explanation:
A franchise simply means when a company allows another company to use it's brand and name in order to help the distribution of its products. The franchisee in this case pays a certain amount to the franchisor.
Bare on the above situation in the question, Oz must disclose in writing or online material facts such as the basis of projected earnings figures.
Match each type of business with one of its features.
Public
corporation
?
Unlimited liability
Government
corporation
?
Collective decision making
General
partnership
Stockholder control
A
Sole
proprietorship
Public regulation
Answers
Answer:
See below
Explanation:
Public corporation
Stockholder control: stockholders or shareholders are the owners. They control the corporation by electing the board of directors.
Government corporation
Public regulation: Is fully or partially owned by the government. They are formed and governed through legislation.
General Partnership
Collective decision-making. Partners share in the running of the business. Decisions are made after consultations with partners.
Sole proprietorship
Unlimited liability. The business and owner are treated as one entity. Assets and debts of the business belong to the owner.
Answer:
Explanation
Public
corporation = Stockholder control
General
partnership = Collective decision making
Sole
proprietorship = Unlimited liability
Government
corporation = Public regulation
Solutions Company - Unadjusted Trial Balance as of December 31.
Account Titles
Unadjusted Trial Balance Dr. Unadjusted Trial Balance Cr.
100: Cash 20,000
110: Accounts Receivable 0
120: Supplies 7,600
160: Machinery 50,000
161: Accumulated Depreciation 20,000
200: Accounts Payable 0
205: Interest Payable 0
210: Wages Payable 0
230: Unearned Rental Fees 7,200
240: Note Payable 30,000
300: Common Stock 10,000
310: Dividends 9,500
320: Retained Earnings 14,200
400: Rental Fees 32,450
600: Wage Expense 24,500
610: Interest Expense 2,250
620: Supplies Expense 0
630: Depreciation Expense 0
113,850 113,850
Totals
Requirement:
Prepare year-end adjusting journal entries for each of these separate situations.
As of December 31, employees had earned $400 of unpaid and unrecorded wages. The next payday is January 4 at which time $1,200 in wages will be paid.
The cost of supplies still available at December 31 is $3,450.
The notes payable requires an interest payment to be made every three months. The next payment occurs after the new year begins. The amount of unrecorded accrued interest at December 31 is $800.
Analysis of the unearned rental fees shows that $3,200 remains unearned at December 31.
In addition to the machinery rental fees included in the revenue account balance, the company has earned another $2,450 in unrecorded fee that will be collected on January 31 of next year.
Depreciation expense for the year is $3,800.
Answers
The Preparing Adjusted Trial Balance with the help of Worksheet: is given below:
The Adjusted Trial BalanceSolutions Company
Worksheet
December 31
Accounts Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance
Debit Credit Debit Credit Debit Credit
Cash $20,000 $20,000
Accounts Receivable 0 $2,450 2,450
Supplies 7,600 $4,150 3,450
Machinery 50,000 50,000
Accumulated Depreciation $20,000 3,800 $23,800
Accounts Payable 0 0
Interest Payable 0 800 800
Salaries Payable 0 400 400
Unearned Rental Fees 7,200 4,000 3,200
Note Payable 30,000 30,000
Common Stock 10,000 10,000
Dividends 9,500 9,500
Retained Earnings 14,200 14,200
Rental Fees 32,450 6,450 38,900
Salaries Expense 24,500 400 24,900
Interest Expense 2,250 800 3,050
Supplies Expense 0 4,150 4,150
Depreciation Expense 0 3,800 3,800
Totals $113,850 $113,850 $15,600 $15,600 $121,300 $121,300
Preparing Income Statement:-
Solutions Company
Income Statement
For the Year Ended December 31
Accounts Amount Amount
Revenue:-
Rental Fees $38,900
Total Revenue $38,900
Expenses:-
Salaries Expense $24,900
Interest Expense 3,050
Supplies Expense 4,150
Depreciation Expense 3,800
Total Expenses ($35,900)
Net Income $3,000
Preparing Statement of Retained Earnings:-
Solutions Company
Statement of Retained Earnings
For the Year Ended December 31
Accounts Amount
Retained Earnings 14,200
Net Income 3,000
$17,200
Dividends (9,500)
Retained Earnings, Ending $7,700
Preparing Balance Sheet:-
Solutions Company
Balance Sheet
December 31
Accounts Amount Amount
Assets:-
Cash $20,000
Accounts Receivable 2,450
Supplies 3,450
Machinery 50,000
Accumulated Depreciation (23,800)
Total Assets $52,100
Liabilities:-
Accounts Payable $0
Interest Payable 800
Salaries Payable 400
Unearned Rental Fees 3,200
Note Payable 30,000
Total Liabilities $34,400
Stockholders Equity:-
Common Stock $10,000
Retained Earnings, Ending 7,700
Total Stockholders Equity $17,700
Total Liabilities and Stockholders Equity $52,100
Preparing Closing Entries:-
Solutions Company
General Journal
December 31
Date Accounts Title and Explanation Debit Credit
December 31 Rental Fees $38,900
Income Summary $38,900
(To close Revenue Account)
December 31 Income Summary $35,900
Salaries Expense $24,900
Interest Expense $3,050
Supplies Expense $4,150
Depreciation Expense $3,800
(To close Expenses Accounts)
December 31 Income Summary $3,000
Retained Earnings $3,000
(To close Income Summary)
December 31 Retained Earnings $9,500
Dividends $9,500
(To close Dividends Account)
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