As assets grow overall (due to a debit), the allowance for uncollectible shrinks as a counter asset is the effect on the financial statements when writing off an uncollectible account under the allowance method.
Crediting this asset account reduces total assets since an AR is being written off. Because the corporation does not anticipate receiving payment, when debts are written off, they are eliminated as assets from the balance sheet. In contrast, when a bad debt is written off, some of its value is still included as an asset since the business still plans to collect it.
Because uncollectible accounting under the allowance method is estimated and charged to the income statement in the revenue year, writing down uncollectible accounts has no impact on net income or net accounts receivable.
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What effect will an overstatement of ending inventory at the end of year 1 have on the amounts reported on the year 1 financial statements?.
Because this is directly related to the cost of goods sold, an overestimate of ending inventory will result in an overestimate of net income. The revenue is divided by the cost of goods sold to arrive at the income.
What will happen if ending inventory is overstated at the end of Year 1?
The beginning inventory of the following period will also be overstated if the current period's inventory is overstated. Since the cost of goods sold will also be overstated as a result of the overestimated beginning inventory, the subsequent period's net income will be understated.
What is the effect of ending inventory that is overstated?
The amount of inventory that would have otherwise been added to the cost of goods sold during the period is reduced when ending inventory is overstated. As a result, the current reporting period's cost of goods sold expense decreases.
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liquidity is: group of answer choices equal to current assets minus current liabilities. a measure of the use of debt in a firm's capital structure. valuable to a firm even though liquid assets tend to be less profitable to own. equal to the market value of a firm's total assets minus its total liabilities. generally most associated with intangible assets.
Liquidity is: valuable to a firm even though liquid asset.
Marketplace liquidity is a market's function whereby an character or company can fast purchase or promote an asset without causing a drastic trade in the asset's rate. Liquidity includes the alternate-off among the rate at which an asset may be sold, and how quick it is able to be bought.
Liquidity means how speedy you may get your hands on your coins. In less difficult phrases, liquidity is to get your money whenever you need it. Description: Liquidity might be your emergency financial savings account or the coins lying with you that you could get right of entry to in case of any unforeseen occurring or any economic setback.
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jackie owns and operates a website design business. to keep up with new technology, she spends $5,000 per year upgrading her computer equipment. she runs the business out of a room in her home. if she did not use the room as her business office, she could rent it out for $2,000 per year. jackie knows that if she did not run her own business, she could return to her previous job at a large software company that would pay her a salary of $60,000 per year. jackie has no other expenses.
Jackie knows that if she did not run her own business, she could return to her previous job at a large software company that would pay her a salary of $60,000 per year. Jackie has no other expenses.
= $5,000
A fee is an object requiring an outflow of cash, or any shape of fortune in general, to every other person or organization as a charge for an object, service, or different category of prices. For a tenant, the lease is a rate. For students or mothers and fathers, the lesson is a cost. Shopping for food, apparel, fixtures, or a vehicle is often referred to as a rate. A fee is a cost this is "paid" or "remitted", typically in alternate for something of a cost. Something that appears to value an amazing deal is "pricey". Something that appears to feel little is "inexpensive". "costs of the desk" are expenses for eating, refreshments, a banquet, etc.
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company manufactures pillows. the operating budget was based on production of pillows, with machine-hours allowed per pillow. budgeted variable overhead per hour was . actual production for was pillows using machine-hours. actual variable costs were per machine-hour. calculate the following: a. the budgeted variable overhead for b. the variable overhead spending variance c. the variable overhead efficiency variance
a. The budgeted variable overhead is $468,750.
b. The variable overhead spending variance is $38,100 Favorable
c. The variable overhead efficiency variance is $30,000 Favorable
What is variable overhead?Variable overhead is a cost of running a business that varies with operational activity. Variable overheads rise and fall in lockstep with production output. Overheads, such as administrative overhead, are often a set cost.
The variable manufacturing overhead controllable variance reflects how effectively the company stuck to its budget. The difference between the planned fixed overhead at normal capacity and the standard fixed overhead for the actual units produced is the fixed factory overhead volume variance.
a. The budgeted variable overhead for 2017 = Budgeted hours * Variable overhead rate per hour
= (25000*0.75)*$25 = $468,750
b. Variable overhead spending variance = (SR - AR) * AH = ($25 - $23) * 19050 = $38,100 Favorable
c. Variable overhead efficiency variance = (SH - AH) * SR = (27000*0.75 - 19050) * $25 = $30,000 Favorable
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jose, who is a medicare patient, is seen in dr. lee’s office. the total charge for the office visit is $250.00. jose has previously paid his medicare part b deductible. the medicare fee schedule amount for this service is $200.00. the nonparticipating medicare fee schedule amount for this service is $190.00. dr. lee is a medicare participating physician. what is the total amount of the patient’s cost sharing for this encounter?
The total amount of the patient’s cost sharing for this encounter is $40. Thus, option C is correct.
What is health insurance?People typically purchase health insurance to protect their health or well-being. When a person needs medical treatment, health insurance offers financial assistance.
With this approach, if a person need an urgent operation, they can seek out medical insurance that will pay for the procedure.
Given information,
The Medicare physician fee schedule = $200
Nonparticipating medicare fee schedule = $190
Jose's cost-sharing will be his out-of-pocket expenses, which the insurer will cover because the doctor is a participant.
The cost-sharing for medicare patients for $250 is 80%
The remaining cost-sharing percentage will be 20%
Therefore his cost-sharing amount will be
= $200 × 20%
=$40
Therefore, option C is the correct option.
.
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The question is incomplete, the complete question will be:
a. $200.00
b. $160.00
c. $40.00
d. $30.00
in an rea model of the purchase and payment process, if each purchase involved only one high value item, such as a new automobile, the maximum multiplicity next to the inventory resource would be , and the maximum multiplicity next to the purchases event would also be .
In an REA model of purchase and payment process, if each purchase involved only one high value item, the maximum multiplicity next to the inventory resource would be one, and the maximum multiplicity next to the purchase event would also be one.
It is seen that in the generic REA model of the purchase and payment process, the multiplicities on the association between the suppliers and the purchases indicates that each supplier can thus participate in a minimum of zero purchases and a maximum of many purchases altogether.
The REA model tends to view the accounting data collection as a system in order to collect data about the events, resources, and agents within business processes. Thus, here the maximum multiplicity next to the inventory resource would be one.
Hence, the maximum multiplicity next to purchase event would also be one.
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2. What BEST describes interest on a savings account?
the amount of money you will need to deposit into the savings account
O the amount you are paid for the use of your money
O the amount of money you are charged to have the account
O the amount required to maintain the account
Answer:
simple interest with rate,time and principle
as foreign exchange activity has grown, a given degree of central bank intervention has become: a. more frequent. b. less effective. c. more effective. d. none of these choices are correct.
As foreign exchange activity grows, a given degree of central bank intervention becomes less effective. Hence, the correct option is (b) less effective.
Central banks manage currency by generating new currency, setting foreign currency reserves, and fixing interest rates. In regard to foreign exchange, the central bank intervention aims at stabilizing its currency in the foreign exchange market. The success of central bank interventions highly depends on how it manages and stabilizes its currency in the foreign exchange market.
If the central bank fails to maintain its stability in the foreign exchange market, it undermines the credibility of the central bank. The increase in foreign exchange activities means that the role of central bank intervention is less effective to stabilize its currency in the foreign exchange market.
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valentina is observing interactions between subordinates and their supervisors in a large corporate office. valentina is using a research strategy called:
Valentina is using a research strategy called: naturalistic observation.
What you mean by naturalistic observation?
Naturalistic observation is a research method where you record and mention the behaviors of your research subjects in real world settings. You should avoid interfering with or influencing any variables in a naturalistic observation. You can imagine of naturalistic observation as “people watching” with a purpose.
Why is naturalistic observation important?An importance of naturalistic observation is that it permits the investigators to directly observed the subject in a natural setting. The method provides scientists a first-hand look at social behavior and can aid them to notice things that might never have encountered in a lab setting.
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when a new competitor threatened to compete with your team’s product line, you noticed that your teammates started working together more effectively to counter this threat.
Group cohesiveness is the best performance factor that describes the above terminology.
Group cohesiveness is the ability of a team to work together in order to produce the desired objective.
When a team is threatened by a new competitor, it tends to focus more on work and also shows unity in reaching a goal.
A new competitor acts as an important contributor in unifying a team and pushing it to reach the desired objective. The team tries its best to work better than the competitor.
Although a part of your question is missing, you might be referring to this question:
Match each description with the corresponding group performance factor that best describes it.
When a new competitor threatened to compete with your team's product line, you noticed that your teammates started working together more effectively to counter this threat.
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valdivo inc. is a manufacturing firm that specializes in sports-related equipment. valdivo has taken the initiative to enhance employee relations and improve the manufacturing process. which element of excellence does valdivo’s initiative exemplify?
The element of excellence does Valdivo’s initiative exemplify is operational element. It is because Valdivo has taken the initiative to enhance employee relations and improve the manufacturing process.
Operational element are including 3 main points, such as inputs, transformation processes, and outputs. Operations management also known as operational element involves the systematic direction and control of the processes that transform resources (inputs) into finished goods or services for customers or clients (outputs). There are several function of operational element or operational management, such as planning, scheduling, inventory control, purchasing, controlling, and quality control.
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lark enters into a contract to mine limestone in milena's quarry, sell it, and share the profits on its sale with milena. if the duties under this contract are discharged like those under most contracts, the duties will be
Lark enters right into a settlement to minelimestone in Milena's quarry, promote it, and percentage the income on its sale with Milena. if the responsibilities beneathneath this settlement are discharged like the ones beneathneath maximum contracts, the responsibilities could be performed.
A profit-sharing plan gives employees a percentage in their organization's earnings based totally mostly on its quarterly or annual earnings. It is as tons because the Organisation to decide how lots of its earnings it wants to percentage. Contributions to a profit-sharing plan are made through manner of manner of the Organisation only; employees cannot make them, too. In an company partnership, you may split the earnings any way you want, below Neath one condition—all company partners need to be in agreement about profit-sharing.
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quizlet beth and bob martin have total take-home pay of $5,600 a month. their monthly expenses total $4,230. calculate the minimum amount this couple needs to establish an emergency fund.
The minimum amount Beth and Bob Martin need to establish an emergency fund is $12,690.
An emergency fund can be described as an amount of money that's set aside for expenses that are not planned and can be obtained quickly in emergency situations.
To establish an emergency fund, the minimum amount should be the expenses of three months. As the monthly expenses of this couple are $4230, therefore the monthly expenses for three months can be calculated by multiplying $4230 three times, which will also be the minimum amount needed for the emergency fund.
$4230 × 3 = $12,690
Hence, $12,690 is calculated to be the minimum amount this couple needs to establish an emergency fund.
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a restaurant sells pizza for $12.76/slice. expenses for the restaurant include raw material for pizza at $7.76 per slice, $116.00 as monthly rental and $54.00 as monthly insurance. how many slices should the restaurant sell in a month to break even? don't round to whole slices.
Based on the selling price of pizza, and the expenses to the restaurant, the number of slices that the restaurant should sell in a month in order to break even is 33.2 slices
How to find out the breakeven point?The formula to find out the breakeven point of sales for the restaurant is:
= Fixed expenses per month / Contribution margin per month
To find the Contribution Margin, you first need to find the variable cost for the month which is:
= Raw material for pizza
= $7.76 per slice
The Contribution margin is:
= Selling price per slice - Contribution Margin
= 12.76 - 7.76
= $5.00
The Fixed costs are:
= Monthly rent + Monthly insurance
= 116 + 50
= $166
The breakeven point is therefore:
= Fixed expenses per month / Contribution margin per month
= 166 / 5.00
= 33.2 slices
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hector would like to buy a new pair of soccer cleats. he prefers adidas to puma brand soccer cleats, but chooses to buy the puma brand cleats instead. which reason is consistent with rational consumer choice?
The price of puma brand soccer cleats was less than the price of adidas brand soccer cleats.
What is adidas?
Adidas AG is a German multinational corporate entity that creates and produces footwear, apparel, and accessories. It was established in Herzogenaurach, Bavaria. After Nike, it is the second-largest sportswear manufacturer in the world and the biggest in Europe. It serves as the parent company for both the Austrian fitness technology company Runtastic and the Adidas Group, which owns an 8.33% stake in the football team Bayern München. Adidas reported €21.915 billion in revenue for the previous year. Adolf Dassler founded the business in his mother's home, and in 1924, his older brother Rudolf joined him. The business was then known as Gebrüder Dassler 19. Dassler contributed to the creation of spiked shoes (spikes) for various sports.
The most crucial factor in deciding on a product is the budget. Even though Hector prefers adidas to Pumas, his choices are heavily influenced by both the cost of the products and his limited budget.
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the market for gadgets is in equilibrium, with the price at $5 per unit and total sales being 1,000 gadgets per year. the elasticities of demand and supply at this equilibrium are estimated to be -0.7 and 2.0 respectively. find the new equilibrium price and quantity as a result of the imposition of a 15% excise tax.
Quantity at new equilibrium = 895
The term "equilibrium quantity" refers to the quantity at which the market's demand and supply of a product are in equilibrium. The intersection of aggregate demand and aggregate supply is the equilibrium quantity on a graph.
The new price of equilibrium is $5.75.
The new equilibrium value is 8.95.
Information provided:
The cost of equilibrium is $5 per unit.
Each year, 1,000 gadgets were sold all together.
At equilibrium, demand has an elasticity of -0.70.
At equilibrium, the elasticity of the supply is 2.
15% is the excise tax rate.
What does it mean to be in equilibrium?
A state of balance between opposing forces is also referred to as equilibrium. Additionally, equilibrium is a state of mental peace.
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mark goes into a payday loan business seeking to get a loan on his 1976 ford pinto. the clerk takes his keys to go look at the pinto. the clerk returns and presents mark with their offer of a loan. mark is not happy paying 350% interest so he rejects the loan. the clerk tells mark that he has lost the keys and mark is not allowed to leave. the clerk actually had not lost the keys, but had been trained that such a scheme makes more people agree to accept a bad loan. what tort if any is the clerk committed? a. negligence b. battery c. no tort was committed d. false imprisonment
Mark is not permitted to leave after being informed by the clerk that he has lost the keys. The clerk would be falsely imprisoned if he were to be committed.
Mark is told by the clerk that he has lost the keys and is unable to leave. While it's true that the clerk didn't lose the keys, she was instructed to use this tactic because it encourages more individuals to accept poor loans. False incarceration arises when someone committed purposefully restricts the exercise of another person's freedom without that person's consent or any other legal justification.
Clerk used to trick the people. The clerk is purposefully limiting Mark's freedom of movement in the example mentioned above. He will be falsely imprisoned as a result. No tort was committed, negligence, and battery are incorrect choices.
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High tea, a retail store, claims to sell a pack of 20 tea bags at a discounted rate of $20 from an advertised original price of $40. The original price was verified by regulators to be $25. The pricing strategy applied by high tea is an example of.
High tea, a retail store, claims to sell a pack of 20 tea bags at a discounted rate of $20 from an advertised original price of $40. The original price was verified by regulators to be $25. The pricing strategy applied by high tea is an example of deceptive pricing.
What is Deceptive Pricing?
Deceptive pricing is a strategy used by merchants to trick clients and prospects into believing they are paying less for goods. This strategy typically involves using "original," "former," or "normal" pricing quotes throughout the most of a season. Companies are not allowed to use such deceptive tactics when dealing with customers, according to the Federal Trade Commission.
The hospitality sector is frequently linked to deceptive pricing. Airlines may display decreased ticket pricing, but remove costs associated with checking bags, choosing a seat, paying taxes, and other expenses related to travel. Hotels do not include resort fees or local taxes in the accommodation rates they display.
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There should be an absolute minimum wage in America! Do you agree with this statement? Why or why not?
Yes, I agree with this statement why because it is widely acknowledged that ensuring the viability of any business and eradicating poverty both depend on minimum wages.
It is widely acknowledged that ensuring the viability of any business and eradicating poverty both depend on minimum wages. The 2009 Global Jobs Pact of the International Labour Conference identified "the regular adjustment of wages, in consultation with the social partners" as a way to combat inequality, boost demand, and promote economic stability in the wake of the 2008 global financial crisis and the worldwide loss of purchasing power.
A higher minimum wage would enable some families to earn more than the federal poverty line and so lower the number of people living in poverty by increasing the income of low-wage workers who have jobs.
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9.true or false: the 2021 estate tax exemption is $12,060,000, the 2021 generation skipping tax exemption is $12,060,000 and the 2020 gift tax exemption is $11,700,000?
This is false that the 2021 estate tax exemption is $12,060,000, the 2021 generation skipping tax exemption is $12,060,000 and the 2020 gift tax exemption is $11,700,000.
An exemption is a sum of money that can be subtracted from a person's overall income to lower it. taxable earnings There are two types of exemptions that taxpayers may be able to claim: Personal exemptions, which normally allow taxpayers to claim themselves (and possibly their spouse).
The generation-skipping tax (GST), sometimes known as the generation-skipping transfer tax, forbids you from intentionally omitting your children from your estate plan in favor of younger generations in order to avoid any estate taxes that might be owed once your children pass away. Individuals will be exempt from GST taxes up to $11.7 million as of 2021, double that amount for married couples. The only value subject to that 40% tax is that which exceeds this exemption.
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Chang and chang observe that the competition is increasing the size of its warehouses. They have decided to do the same. They are following _______ strategy.
Based on the story above, Chang and chang observe that the competition is increasing the size of its warehouses and have decided to do the same, so they adopted follow the leader strategy.
Follow the leader strategy can be defined as a decisions and actions taken by a firm which chooses to follow the market leader as an alternative to challenging it. Follow-the-leader strategies, also known os 'me-too' strategies.
The are three general strategies for market leadership, such as develop the total market demand, protecting market share, and expanding market share.
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If you are looking for a larger, less personal, bank that handles businesses and corporations instead of individual accounts, you would need to choose which of the following?
The brokerage firm is the one that handles businesses and corporations instead of individual accounts. Brokerage companies serve as a conduit for their clients' transactions with the stock market.
On behalf of their clients, they mostly buy and sell financial instruments, including stocks. brokerage firm combine their resources to assist their clients in negotiating the rules of the stock market. The ideal illustration of a brokerage company is the online investment platform Robinhood. It makes it easier to trade a variety of the businesses securities, including derivatives and stocks. When clients bought shares of stocks on margin, brokers would get the interest.
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j-matt, inc., had pretax accounting income of $291,000 and taxable income of $300,000 in 2021. the only difference between accounting and taxable income is estimated product warranty costs of $9,000 for sales in 2021. warranty payments are expected to be in equal amounts over the next three years (2022–2024) and will be tax deductible at that time. recent tax legislation will change the tax rate from the current 25% to 20% in 2023. determine the amounts necessary to record j-matt’s income taxes for 2021 and prepare the appropriate journal entry.
If the recent tax legislation will change the tax rate from the current 25% to 20% in 2023. determine the amounts necessary to record j-matt’s income taxes for 2021 is $75,000.
Income tax payableIncome Tax Payable = $300,000 x 25%
Income tax payable = $75,000
The appropriate journal entry to record the given transaction is:
j-matt, inc. Journal entry
Debit Income Tax Expense $78,000
($75,000 +$3,000)
Debit Deferred Tax Asset $3,000
($9,000 / 3 years)
Credit Income Tax Payable $75,000
(300,000 x 25% = $75,000)
Therefore the income taxes for 2021 is the amount of $75,000.
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what is the difference between a book-value balance sheet and a market-value balance sheet? which provides better information to investors and management?
The net value of a company's assets as shown on its balance sheet is known as book value, and it generally equates to the total amount that all of the company's shareholders would get in the event of a liquidation. The market value of a firm is determined by the market capitalization, which is the sum of the market values of all of its outstanding shares.
What is the difference between the book value and the market value?The sum that shareholders would receive from a company's assets being sold off and its obligations being settled is known as its book value. The market value of a firm is its worth in the eyes of the markets, calculated using the stock's current price and the total number of outstanding shares.
There are two methods for valuing a company: book value and market value. While market value is based on a company's share price, which frequently fluctuates owing to stock market sentiment, book value is based on a company's balance sheet.
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Which of the following will you see in a credit card monthly statement?
A: The annual financial plan for the year
B: The interest charged for reach type of service used
C: The deductible for the interest charged to the card
D: The amount of money you may get in the future
nasafi lumber paid an annual dividend of $1.37 per share yesterday. today, the company announced that future dividends will be increasing by 3 percent annually. if you require a return of 14.6 percent, how much are you willing to pay to purchase one share of this stock today?
The amount I would be willing to pay for one share of the stock today is $12.16.
How much would I be willing to pay for the share of stock?The amount that you would be willing to purchase one share of the stock today is determinant on the intrinsic value of the stock. The intrinsic value is the value of the stock that is dependent on the fundamentals of the firm.
The formula that can be used to determine the intrinsic value of the stock is known as the Gordon Constant growth model.
According to this model:
P = [D(1 + g)] / (r - g)
Where:
P = price of the stock D = dividend g = growth rate r = required rate of returnP = [1.37(1 + 0.03)] / (0.146 - 0.03)
P = (1.37 X 1.03) / (0.116)
P = $12.16
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a bookkeeping list of assets (money, property, ideas...), identified ownership, and transactions that record the transfer of ownership among participants.
Digital Ledger is a bookkeeping list of assets (money, property, ideas, etc), identified ownership, and transactions that record the transfer of ownership among participants.
Distributed ledger technology (DLT) or also known as digital ledger can be described as a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. A distributed ledger also can be described as the consensus of replicated, shared, and synchronized digital data that is geographically spread across many sites, countries, or institutions. Digital ledgers have no central data store or administration functionality.
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what might be the consequences of market concentration for the agrochemical industry following the merger? what are the regulatory challenges and ethical concerns associated with an oligarchic market?
This merger posed an financial and political threat / new barrier to entry, which can have led to a plethora of chemical and seed selections being reduced.
The required details for Monsanto's merchandise in given paragraph
It ought to jeopardize biodiversity and purpose farmers to pay extra for merchandise made with the aid of using large corporations. The advent of Monsanto's merchandise and GMOs into new regions has felony repercussions because of the truth that they may be strictly prohibited in a few European countries. Agrochemical merchandise are the primary recognition of the social and cultural factors of the merger as a whole.
The merging of Bayer and Monsanto manner that presently four corporations own over 60 percentage of worldwide proprietary seed sales, which suggests how antitrust legal guidelines and oversight have didn't save you the expanded hegemony of mega-organizations within side the agrochemical enterprise. Seed enterprise organizations are regarded to offer much less selections and better fees for farmers, with the aid of using imposing seed patent rights, which ends up in much less innovation and expanded regulations on how seeds are applied and exchanged, which additionally limits seed range within side the marketplace and much less innovation and R&D.
This will even imply farmers may have little desire however to depend upon GMOs whilst there may be nevertheless now no longer sufficient records to calculate its results on human fitness and ecosystems.
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Serafina, an advertising executive, is trying to figure out the best way to market a product that does not evoke a strong emotional, personal response from people. Her most effective strategy would be to adopt a campaign that focuses on.
An individual response from people for Serafina, an advertising executive. She would be best served by launching a campaign that emphasizes logical, fact-based arguments.
It can be beneficial to fact-based arguments your approach while facing a challenge. I'm referring to the fact that you back up your advertising executive arguments with facts and data. You'll be able to make wiser choices and find solutions to issues as a result. We'll talk about how to approach problem-solving with facts in this article.
To uncover the root of your fact-based arguments problem and avoid misdirecting your efforts toward a symptom, fact-based analysis entails examining and analyzing the issue at hand. You must advertising executive also assess potential solutions to make sure you use the most advantageous ones.
A proposed course of action's financial potential is evaluated using a cost-benefit analysis. Use it when outlining a plan that needs finance or when evaluating the return on an investment.
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In the ________ activity of scm, supply chain managers develop processes for managing their goods and services inventory, including receiving and verifying shipments, transferring the shipped materials to manufacturing facilities, and authorizing supplier payments.
In the planning activity of SCM, supply chain managers develop processes for managing their goods and services inventory, including receiving and verifying shipments, transferring the shipped materials to manufacturing facilities, and authorizing supplier payments.
What is supply chain management?The handling of a good or service's full manufacturing flow, from the raw materials to the delivery of the finished product to the customer, is known as supply chain management. A business establishes a network of suppliers (or "links" in the chain") to convey the product from raw material suppliers to businesses that deal with customers directly.
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