Answer: $0
Explanation:
Forward contracts get their value from the cost and on December 1, there was no cost to Curtis as he Curtis had just signed the contract.
This means that the amount that should be recorded for the Forward Contract should be $0. Even though the contract is valued at $0, it will still need to be credited against the amount to be received to at least recognize that a forward contract was entered into.
Splendid Occasions received $2,970 for services to be performed for the next 8 months on March 31 and recorded this transaction using the Unearned Revenue account.
If Splendid Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?Sweet Catering completed the following selected transactions during May 2016:
May 1: Prepaid rent for three months, $2,400
May 5: Received and paid electricity bill, $60
May 9: Received cash for meals served to customers, $2,530
May 14: Paid cash for kitchen equipment, $2,920
May 23: Served a banquet on account, $2,810
May 31: Made the adjusting entry for rent (from May 1)
May 31: Accrued salary expense, $2,670
May 31: Recorded depreciation for May on kitchen equipment, $380If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May?If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May?
Answer:
If Splendid Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
Ans: $2,970
The ''other method'' in question is the Cash method which recognizes revenue when cash is paid unlike the Accrual method that recognizes it when earned.
Using the Cash method the Service Revenue would be $2,970 because the cash has been received for it.
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May?
= Cash revenues - Cash expense
= Received cash for meals served to customers - Prepaid rent for three months - Received and paid electricity bill
= 2,530 - 2400 - 60
= $70
If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May?
= Revenue - Expense
= Served a banquet on account + Received cash for meals served to customers - Rent - Electricity - Accrued salary expense - depreciation
= 2,810 + 2,530 - (2,400/3) - 60 - 2,670 - 380
= $1,430
Cash spent on Equipment is not expense but capital expenditure.
Jim has a choice between two jobs. Job A would pay him $15 an hour with certainty, and the job B is commission based where he could earn $12, with a 50% probability and $18 with a 50% probability. Which job would he choose? a. Neither of the jobs b. Job A c. Job B d. He would choose to exit the labor market
Answer:
b. Job A
Explanation:
The calculation of choosing the job is given below;
Expected payoff for Job B is
= 0.50 × $12 + 0.50 × $18
= $6 + $9
= $15
And,
The Payoff from job A is $15 with certainty
Now we assume that Jim would be a risk-averse person that selects the thing i.e. sure
So he should choose Job A only
Hence, the correct option is b.
whats a good job for me A. nail artist B.GameDev C. Aesthetic photography D.Anime Actor idc They all sound good
Answer:
C. Aesthetic photography
Explanation:
Answer: it really depends on what you're good at !!
Explanation: seeing all the jobs you listed here, if you look more into the requirements and the education that is needed, see which one is either easier or what you're good in in that field, and go for that !!
i think that either a nail artist or an aesthetic photographer would be good for you :)
A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $62,000; the land at $35,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of:________.a) $0.b) $30,435.c) $35,000.d) $46,087.e) $100,000.
Answer:
The correct option is b) $30,435.
Explanation:
In accounting, property acquisition cost of a group of assets is allocated based on the ratio of the appraisal value of each asset to the sum of the appraisal values of all the assets concerned.
The following are given in the question:
Property acquisition cost = $100,000
Building appraisal value = $62,000
Land appraisal value = $35,000
Parking lot appraisal value = $18,000
Therefore, we have:
Total appraisal value = Building appraisal value + Land appraisal value + Parking lot appraisal value = $62,000 + $35,000 + $18,000 = $115,000
Cost allocated to land = (Land appraisal value / Total appraisal value) * Property acquisition cost = ($35,000 / $115,000) * $100,000 = 0.304347826086957 * $100,000 = $30,435
Therefore, Land should be recorded in the accounting records with an allocated cost of $30,435.
Global Corporation had 58,000 shares of $20 par value common stock outstanding on July 1. Later that day the board of directors declared a 20% stock dividend when the market value of each share was $28. The entry to record the dividend declaration is:_______.
Answer:
Jul-01
Dr Retained Earnings $324,800
Cr Common stock dividend distributable $232,000
Cr Paid-in capital in excess of par value - Common stock 92,800
Explanation:
Preparation of the journal entry to record the dividend declaration is:
Jul-01
Dr Retained Earnings $324,800
(58,000 shares x 20% x $28)
Cr Common stock dividend distributable $232,000
(58,000 shares x 20% x $20)
Cr Paid-in capital in excess of par value - Common stock 92,800
(58,000 shares x 20% x $8)
On October 1, Hawking Corp. had 40,000 shares of $2 par value common stock outstanding before it declared a 2-for-1 stock split. At that time, its stock was selling for $50 per share.1. After the split, how many shares of common stock are outstanding and what is their par value per share?2. After the split, the number of shares outstanding is per share is _______ and the par value per share is ______.
Answer:
1. After the split, how many shares of common stock are outstanding and what is their par value per share?
40,000 stocks outstanding x 2 = 80,000 stocks outstanding after the stock split
par value of each stock = $2 / 2 = $1
Aren't both questions the same?
2. After the split, the number of shares outstanding is 80,000 and the par value per share is $1.
Explanation:
When a stock split happens, the total number of outstanding stock is just multiplied by the stock split factor, in this case it was 2, but other times it might be 4 or 7 (like Apple stock). You just multiply total outstanding stock by the split number. On the other hand, par value is calculated by dividing the current par value by the split number.
Help! It's due in a couple hours!!!
the latin term,caveat emptor, meaning let the buyer aware,
How is this term important to suppliers and businesses?
Answer:
Caveat emptor is a Latin term that means "let the buyer beware." Similar to the phrase "sold as is," this term means that the buyer assumes the risk that a product may fail to meet expectations or have defects.
Explanation:
Answer:
Yes i think it tells the buyer to be careful of what you buy cause you might not like it.
Explanation:
I hope this helps mark me brainliest
On January 1, 2020, Levy Company issues 100 x 5% bonds with a face value of $1500, The bonds mature on December 31, 2030 and pay interest semi-annually. What is the amount of Cash raised for the Levy Company?
Answer:
$150,000
Explanation:
Calculation for the amount of Cash raised for the Levy Company
Using this formula
Cash raised for Levy Company = Number of Bonds * Face value of the Bond
Let plug in the formula
Cash raised for Levy Company = 100 * $1,500
Cash raised for Levy Company = $150,000
Therefore the amount of Cash raised for the Levy Company will be $150,000
Which questions should someone ask when deciding whether to lease or buy a car? Check all that apply.
Will I use it more than the allowed lease mileage?
Will my family like the car?
How long do I want the car?
How much do I want to spend?
How much do I like the car’s options?
The necessary questions to ask oneself when deciding whether to lease or buy a car includes:
will I use it more than the allowed lease mileage?how long do I want the car?how much do I want to spend?Why is the question important?This question is important because it will allow the person to assess and decide on the best option between leasing a car or buying it.
Therefore, the Option A, C and D is correct.
Read more about car lease
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Ms. Fresh bought 1,000 shares of Ibis Corporation stock for $5,100 on January 15, 2018. On December 31, 2020, she sold all 1,000 shares of her Ibis stock for $4,550. Based on a hot tip from her friend, she bought 1,000 shares of Ibis stock on January 23, 2021, for $3,025. What is Ms. Fresh's recognized loss on her 2020 sale, and what is her basis in her 1,000 shares purchased in 2021?a. $0 LTCL and $4,850 basis.b. $560 LTCL and $4,290 basis.c. $840 LTCL and $4,010 basis.d. $1,120 LTCL and $3,730 basis.e. $1,400 LTCL and $3,450 basis.
Answer:
LTCL = $0
Basis = $3,575
Explanation:
January 15, 2018, buy 1,000 shares at $5,100
December 31, 2020, sold 1,000 shares at $4,550
If Ms. Fresh hadn't repurchased the stock in January, she could have reported a long term capital loss of $550. But since she repurchased the 1,000 shares just after selling them, it is considered a wash sale.
So no long term capital loss will be recognized and the basis of the 1,000 stocks = $3,025 + $550 = $3,575
If U.S. immigration consists of mainly low-skilled workers, then an increase in immigration __________ the wages of low-skilled workers.a. will increaseb. will reducec. may increase or reduced. will not affect
Answer:
Option B: will reduce
Explanation:
Immigration is simply movement from one country to another with the intention of staying. Immigrant are coming into the US yearly .
If U.S. immigration consists of mainly low-skilled workers, then an increase in immigration reduce the wages of low-skilled workers as they are too much and wages will have to fall.
If Cost of Goods Sold is $300,000, beginning inventory is $29,000, and ending inventory is $30,000, then the purchases from suppliers (assume all on account) would be:_______. A. $59.000 B. $301,000 C. $359,000 D. $299,000
Answer:
B. $301,000
Explanation:
The computation of the purchased from suppliers is shown below:
As we know that
Cost of good sold = Opening Inventory + Purchase - Closing Inventory
$300,000 = $29,000 + Purchases - $30,000
Purchases = $300,000 + $30,000 - $29,000
= $301,000
Hence, the purchased from suppliers is $301,000
Therefore the correct option is b.
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Effective business communication includes__
thinking before acting
using formal language with acronyms
anticipating questions from the audience
avoiding clichés
Answer:
thinking before acting,
avoiding clichés ,
using formal language with acronyms
Explanation:
enthnocentrism as a barrier in cross-cultural communication
Given: Initial Cost, P = $50,000 Salvage Value at the end of 5 years, S = $10,000. Depreciable Life. N = 5 Years Determine the depreciation in year 4 using the UOP method. Year Projected production units Actual production units1 4500 50002 5000 40003 3500 30004 5500 50005 6500 Not known Total 25000 A. $5, 600 B. $8,000 C. $4,000 D. $3, 200 If the equipment is sold at the end of year 4 for $30,000, what is the depreciation recapture on this equipment? A. $8, 400 B. $5, 600 C. $7, 200 D. $4,000
Answer:
1. B. $8,000
2. C. $7,200
Explanation:
Units or production (UOP) method of depreciation bases the depreciation expense of a machine or equipment on how much it is actually used during the period.
depreciable value = $50,000 - $10,000 = $40,000
depreciation rate per unit = $40,000 / 25,000 = $1.60
Year Projected Production units Actual Production units
1 4,500 5,000
2 5,000 4,000
3 3,500 3,000
4 5,500 5,000
5 6,500 Not known
Total 25,000
depreciation expense year 4 = $1.60 x 5,000 = $8,000
accumulated depreciation year 4 = $1.60 x 17,000 = $27,200
book value = $50,000 - $27,200 = $22,800
if sold at $30,000, gain resulting from sale = $30,000 - $22,800 = $7,200
When adopting strategies for entering a new market, many firms follow a(n) approach that may morph and become _____ over time.
Answer:
More risky
Explanation:
People invest in the stock market because
Answer:
they provide the highest potential returns
Explanation:
Answer:
it makes them money and if the economy went down the stock will go up so they can sell bitcoins. its an investing program
Explanation:
Which action would a bank most likely take when deciding whether a person
should be approved for a loan?
A. Forcing the person to shut down all other bank accounts
B. Checking bank statements to see how much money the person
has saved
C. Investigating the person's grades in high school and college
D. Requiring the person to take a written test about financial
concepts
Answer: checking bank statements to see how much money the person saved
Checking bank statements to see how much money the person has hold on is the activity would a bank most likely take when settling whether a person should be sanctioned for a loan.
How are loans sanctioned?The financial institution will examine the application after receiving all of the relevant information and papers. Complete information is examined, from the current residence address to the CIBIL score.
The loan amount is sanctioned once the bank has verified all of the details.
Thus, option B is correct.
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Suppose that the monthly jobs report published the entire adult population of the state as follows: 25 million people employed, 3 million people unemployed, 1 million discouraged workers, and 1 million people who are either students, homemakers, retirees, or other people not seeking employment. What is the labor-force participation rate?
Answer: 93.3%
Explanation:
The labor force participation rate is the labor force of a country divided by its total adult population.
The labor force is defined as those working or actively looking for work.
Labor force participation rate = (Employed + Unemployed) / Employed + Unemployed + Discouraged + others not seeking employment)
= (25,000,000 + 3,000,000) / (25,000,000 + 3,000,000 + 1,000,000 + 1,000,000)
= 93.3%
In an open economy, what is the source of demand in the foreign-currency exchange market?
A. National saving
B. Net exports
C. Net capital outflow
D. Imports
Answer:
Option b:Net Exports
Explanation:
open economy is an economy that
has a relationship or an interaction freely with other economies around the world. It is the movement of capital into and out of a country/market.
The maintenance department of a large hospital uses about 816 cases of liquid cleanser annually. Ordering costs are $12 and carrying costs are $4 per case. The new price schedule is as follows: Quantity Unit Cost 1-49 $20 ' 50-79 $18 ~ 80-99 $17 .3 100 or more $16 Determine the optimal order quantity and the total cost.
Answer:
/
Explanation:
When people refer to cognitive ability, they usually are referencing the general overall cognitive ability, also called:________.a. g-factor. b. self-awareness. c. EQ. d. GLAT. e. SAT.
Answer:
a. g-factor.
Explanation:
G-factor: The term "g-factor" is also referred "general intelligence factor", "general intelligence", or "general mental ability", and is described as a construct that is being developed in "psychometric investigation" associated with the human intelligence & cognitive abilities. The g-factor tends to target a specific measure of "general intelligence". An individual who holds this view ought to believe that someone's intelligence can be expressed & measured via a single number, for example, IQ score.
In the question above, the given statement represents "g-factor".
if you guess the number im thinking of illl give you 100 points
Answer:
49 is my guess!!!!!!!!
A company decided to finance the purchase of truck. The loan agreement requires quarterly payments of $850/each for 3 years. The interest rate on the loan is 8%. No amount was due in cash at the time of signing and the first payment of $850 is due three months (one quarter) after the signing date. How much did the truck cost?
Answer:
The cost of the truck is:
$10,200
Explanation:
a) Data and Calculations:
Quarterly payments = $850
Rate of interest on the loan = 8%
Annual payments = $3,400 ($850*4)
Payments for the three years' duration = $10,200 ($3,400*3)
b) The truck cost of $10,200 includes the interest at 8% of the loan borrowed. This finance charge is capitalized as part of the cost at which the truck will be reported in the accounting records of the company.
Holt Fasner is considering purchasing the stock of United Mining Companies, which he plans to hold indefinitely. United Mining just paid an annual dividend of $2.00 and the price of the stock is $45 per share. The earnings and dividends of the company are expected to grow forever at a rate of 6 percent per year. What annual rate of return does Holt expect on his investment?
Answer:
10.71%
Explanation:
Calculation for annual rate of return that Holt expect on his investment
Using this formula
Annual rate of return=(D1/Current price)+Growth rate
Annual rate of return=(2*1.06/45)+(0.06)
Annual rate of return=2.12/45+(0.06)
Annual rate of return=0.0471+0.06
Annual rate of return=0.1071*100
Annual rate of return=10.71%
Therefore the annual rate of return that Holt expect on his investment will be 10.71%
You've graduated from college and are now working in an investment firm where you advise clients on investment decisions. Here is the information on the proposed project.
Up-front cost: $100,000
Next year's revenue: $15,000
Real interest rate: 7%
Depreciation rate: 3%
What is the present value of the stream of payments from this project?
A. $500,000
B. $85,000
C. $115,000
D. $150,000
Answer:
B. $85,000
Explanation:
The client should not invest in the project as the income stream is low and the NPV of the project will be negative. The client should not invest in a project whose net present value is negative which means its total cost is greater than the total revenue that will be generated from the project.
Ed is a freelance writer who could work for a newspaper for a salary of $25,000 a year but instead works for himself for $41,000 a year. His only business expenses are $1,000 for writing materials and $12,000 for rent. Ed's normal profit is $1,000. What is the total opportunity cost incurred by Ed in running his own business?
Answer:
$38,000
Explanation:
Opportunity cost is the benefit forgone for choosing another alternative by the individual.
In this case, the total opportunity cost incurred by Ed in running his own business is the cost that is needed to maintain the business and the opportunity to attain a salary of $25,000 for working for a newspaper. Calculation is as follows:
Business Expenses + Rent + Salary (not availed) = Opportunity cost
1,000 + 12,000 + 25,000 = $38,000
Hence, the opportunity cost for running his own business is $38,000.
Assume an indifference map with other goods on the vertical axis and health on the horizontal axis. The government provides families with $400 vouchers that can be redeemed for healthcare services at any hospital, public or private. The budget line for a family that avails this voucher scheme will:_________.A. be negatively sloped.B. be positively sloped up to $400 and then have a zero slope.C. have a zero slope up to $400 and then have a negative slope.
Answer:
C. have a zero slope up to $400 and then have a negative slope.
Explanation:
Here in the attached diagram
H denotes the individual income
H = Services of the healthcare
G = Other goods
As it can be seen that the ABC is the budget line and the budget line is horizontal till $400 i.e. zero slope and afterwards it would be downward sloping i.e. negative slope
In the case when the income is fully spend on the other goods so an individual after that can consume $400 due to which the budget line could be horizontal and become parallel to the axis
Therefore the correct option is C.
Looking outside the organization to examine what industry competitors and excellent performers outside of your industry are doing in a particular process is called: _____________a) Industrial espionage b) Unethical c) External benchmarking d) Hiring an outside expert e) Reverse engineering
Answer:
C) External benchmarking
Explanation:
This is seen to be a form of examining certain areas away from a company sector. Naturally, benchmarking is seen to posses four parts which include internal, external, practice and lastly performance. The discussed type is seen to be carried out after the internal is been done. It is usually done as a form of examination or test in many cases against another or other standards which the same rivals are seen to have in the same market. This test is also seen to produce factful finding in developing and adding value to a firm and whatsoever dealings they are proposed to embark on in a lot of scenarios.
The use of accelerated depreciation:____.a. discourages investment in plant and equipment. b. increases expenses and decreases cash flow.c. initially decreases the firm's taxes. d. initially increases the firm's profits.
Answer:
c. initially decreases the firm's taxes
Explanation:
Accelerated depreciation provides for a higher rate of capital allowance on the assets that is New and Unused and brought in the business for use in manufacturing for the first time. This allowance then lowers for the other years. The purpose of this is to encourage investment in plant and equipment as it initially decreases the firm's taxes.
