Indicate whether each of the following donated services situations would require a journal entry for contribution revenue and a related expense or asset by answering Yes or No. Contribution revenue Yes or No 1. Volunteers worked as sales assistants in a not-for-profit hospital snack shop. 2. A psychiatrist volunteered several hours each week at a not-for-profit counseling center to assist persons with alcohol and drugs addiction. 3. A member of a church volunteered to repaint the church’s activities room to make it more attractive. Church leaders had not planned to repaint the room. 4. An architect provided pro bono design services for the planned remodeling of a local museum
Answers
The correct answer to indicating whether contribution revenue should be recorded (Yes or NO)
1. No
2. Yes
3.No
4.Yes
1. Volunteers worked as sales assistants in a not-for-profit hospital snack shop.
Contribution revenue: No
2. A psychiatrist volunteered several hours each week at a not-for-profit counseling center to assist persons with alcohol and drugs addiction.
Contribution revenue: Yes
3. A member of a church volunteered to repaint the church’s activities room to make it more attractive. Church leaders had not planned to repaint the room.
Contribution revenue: No
4. An architect provided pro bono design services for the planned remodeling of a local museum.
Contribution revenue: Yes
In situations 2 and 4, contribution revenue is recorded because the services provided are specialized and would typically need to be purchased if not donated. In situations 1 and 3, the services provided are more general and not considered specialized, so contribution revenue is not recorded.
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Related Questions
Making a good first impression is one of the most important components of an effective presentation.
a, true
b. false
Answers
Your audience's attention can be drawn in and held throughout your presentation if you make a strong initial impression. Yes, it does improve your standing as a speaker.
Presentation? Why do you bring that up?
Through a presentation, a speaker educates an audience. The typical goals of a presentation are to inform, persuade, inspire, motivate, encourage goodwill, or recommend a novel product or service. Speeches, introductions, seminars, and displays are all examples of presentations.
What makes presentations crucial?
When making interesting and entertaining slides to accompany their talks, students using presentation skills might come up with original ideas. The development of presentation tools can help students feel more confident and can make talks much more interesting.
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FILL IN THE BLANK. with regard to quality management systems, is a formal document that demonstrates a commitment to achieving high quality and meeting customer expectations.
Answers
Total quality control is a comprehensive collection of methods used to reduce mistakes across a company.
What is Total Quality Control?Total quality control is a broad range of methods used to reduce errors across an organization. An firm can significantly increase both its profitability and customer satisfaction by doing this. Employees from all departments who have the authority to make changes must participate. This strategy incorporates several ideas, such as:What counts is how the customer feels about the quality.Process enhancements are the primary focus of error reduction.There is no end to the overall quality control effort because processes must be continually improved.The objective of quality improvement must be closely integrated with ongoing feedback loops and motivational techniques.To Learn more About Total quality control refer to:
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New technology innovations rarely influence an organization's information system strategic plan since it is so strongly determined by corporate strategy.True or False
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New technology creations rarely influence an institution's information system strategic plan since it is so strongly determined by corporate strategy. This statement is False.
New technology innovations can greatly impact an institution's information design strategic plan, even if it is extremely defined by corporate strategy. Information systems are a vital component of many alliances, and technical progress can get about important changes to how they work and compete.
It is important for communities to stay present with the latest technologies and assess their likely impact on their strategic plans. Advancements in technology can extend new possibilities for communities and may require a re-evaluation of their corporate technique.
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Problem 5-13 (Algo) Break-even point and degree of leverage [LO5-2, 5-5]
United Snack Company sells 60-pound bags of peanuts to university dormitories for $46 a bag. The fixed costs of this operation are $379,600, while the variable costs of peanuts are $0.28 per pound.
What is the break-even point in bags?
Calculate the profit or loss (EBIT) on 10,000 bags and on 23,000 bags.
What is the degree of operating leverage at 18,000 bags and at 23,000 bags?
Note: Round your answers to 2 decimal places.
If United Snack Company has an annual interest expense of $28,000, calculate the degree of financial leverage at both 18,000 and 23,000 bags.
Note: Round your answers to 2 decimal places.
What is the degree of combined leverage at both a sales level of 18,000 bags and 23,000 bags?
Note: Round your answers to 2 decimal places.
Answers
The break-even point in bags for United Snack Company is approximately 16,311 bags.
The profit or loss (EBIT) on 10,000 bags is -$82,800, and on 23,000 bags is $28,200.
The degree of operating leverage at 18,000 bags is 4.46, and at 23,000 bags is 5.10.
The degree of financial leverage at 18,000 bags is 4.00, and at 23,000 bags is 4.80.
The degree of combined leverage at a sales level of 18,000 bags is 17.83, and at 23,000 bags is 24.48.
To calculate the break-even point in bags, we divide the fixed costs by the contribution margin per bag. The contribution margin is the selling price per bag minus the variable cost per bag. In this case, the break-even point is approximately 16,311 bags.
To calculate the profit or loss (EBIT) on a given number of bags, we subtract the total costs (fixed costs plus variable costs) from the total revenue (selling price per bag multiplied by the number of bags). For 10,000 bags, the EBIT is -$82,800, indicating a loss, and for 23,000 bags, the EBIT is $28,200, indicating a profit.
The degree of operating leverage is calculated by dividing the contribution margin by the EBIT. It measures the percentage change in EBIT resulting from a percentage change in sales. At 18,000 bags, the degree of operating leverage is 4.46, and at 23,000 bags, it is 5.10.
The degree of financial leverage is calculated by dividing the percentage change in EBIT by the percentage change in net income. It measures the percentage change in net income resulting from a percentage change in EBIT. At 18,000 bags, the degree of financial leverage is 4.00, and at 23,000 bags, it is 4.80.
The degree of combined leverage is calculated by multiplying the degree of operating leverage by the degree of financial leverage. It measures the percentage change in net income resulting from a percentage change in sales. At 18,000 bags, the degree of combined leverage is 17.83, and at 23,000 bags, it is 24.48.
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what would have the biggest influence on top management's reaction to a difference between budgeted and actual sales
Answers
There are several factors that could influence top management's reaction to a difference between budgeted and actual sales.
However, one of the biggest influences would likely be the magnitude of the variance. If the variance is small and within a reasonable range of deviation, top management may not react too strongly. However, if the variance is significant and outside of the expected range, top management may become concerned and take action. Other factors that could influence their reaction include the overall financial health of the company, the specific goals and objectives set for the sales department, and the market conditions and competitive landscape in which the company operates. Additionally, the level of transparency and communication within the organization can also impact how top management perceives and reacts to the difference between budgeted and actual sales.
The biggest influence on top management's reaction to a difference between budgeted and actual sales would likely be the magnitude of the discrepancy, as well as the underlying factors contributing to this difference. Management may consider external factors, such as market conditions or competition, and internal factors, such as pricing strategy or operational efficiency, to understand the reasons behind the variance and make informed decisions to address it.
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Which of the following is NOT one of the serious consequences of "senior slump"?
1. I might not be able to keep up with my introductory college courses.
2. I might not graduate from high school on schedule with my class.
3. I might not be assigned to the college dormitory of my choice.
4. I might be required to take summer school courses before enrolling in college.
Answers
Answer: 3. I might not be assigned to the college dormitory of my choice.
Explanation:
A senior slum refers to a condition that some high school seniors experience where they lose academic focus and begin to perform worse in academics.
A senior slump by definition, affects high school seniors which means that not being assigned to a college dormitory cannot be a consequence of it because that would require being a college student in the first place.
As the people affected are still in high school, a serious consequence would be one that affects their high school results such that they don't get into college in the first place after which they can then begin to worry about dormitories.
Answer:
3. I might not be assigned to the college dormitory of my choice.
Explanation:
Hope this helps
A group of four friends spends a day at a local theme park, which has just opened a new attraction with very popular rides featuring new technology. They board one of the rides after waiting for over an hour in line, but about five minutes into the ride the electricity fails, and they are stuck on the ride for a half hour. When the ride finally resumes and concludes, they go to the theme park’s guest services department to complain.
What are the facts?
How does the guest feel?
How would you acknowledge the guest’s feelings?
What would be your solution?
How would you follow up with the guest?
Answers
firstly it was totally the system's fault because they can't take risks with electricity in a local theme park as it is a must factor. even if the incident occurred they must have a good backup.
we have already discussed the facts, it was very unpleasant for the guests as they came for enjoying the moment but wasted their time due to system failure and it was very disheartening for all the people gathered there.
acknowledging guests' feelings seems to be very disheartening as they suffered because of the department's negligence and everything that happened was unexpected.
the department should be aware of every basic facility present at that moment and must have options for immediate action if something happens.
The forecasting method that is somewhat influenced by ALL the previous forecasts is:
A.Infinite Forecast
B.Exponential Smoothing
C.Life-Cycle Forecast
D.Multiple Regression
E.Naive Forecast
Answers
3. Exponential The forecasting technique known as smoothing is slightly impacted by ALL of the prior projections. A time series forecasting technique called exponential smoothing includes .
iteratively updating the prediction based on the weighted average of previous observations, with the weights getting less and smaller as the data grow older. Although taking into account all previous data, the approach gives more weight to more current observations while lessening the importance of older ones. As a result, all of the past projections have an impact on each subsequent forecast. The forecasting method that is somewhat influenced by ALL the previous forecasts is B.Exponential Smoothing. A time series forecasting technique called exponential smoothing includes .
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all other things the same, an increase in total fixed expenses will increase the break-even point. T/F
Answers
The statement ''all other things the same, an increase in total fixed expenses will increase the break-even point is false. An increase in fixed expenses will increase the total amount of sales needed to break even.
This is because fixed expenses do not vary with sales volume and thus must be recovered through sales revenue before profits can be realized. In other words, as fixed expenses increase, the break-even point will also increase, since a greater amount of sales revenue will be needed to cover the fixed expenses.
For example, if fixed expenses increase by 10%, then the break-even point will also increase by 10%, since additional sales revenue would be needed to cover the additional fixed expenses.
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usually, the more liquid an asset is (like cash in the bank), the less return you can expect.a. trueb. false
Answers
True. The more liquid an asset is, the less return you can expect. This is because highly liquid assets like cash or money market funds have low risk and are easily accessible, which means they typically offer lower returns compared to less liquid assets like stocks or real estate.
However, it's important to note that the trade-off between liquidity and return may vary based on individual circumstances and investment goals. A detailed answer would require a deeper analysis of the specific investment options and the associated risks and rewards.
Generally, the more liquid an asset is, such as cash in the bank, the less return you can expect. This is because liquid assets are easily convertible to cash and involve lower risk, resulting in lower returns compared to less liquid assets that often come with higher risks and potentially higher returns.
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Marta is a human resources manager who spends much of her time on ______. She systematically examines the content and requirements of jobs in the organization.
Demand forecasting, recruiting, job analysis, or selection
Answers
Marta, as a human resources manager, spends much of her time on job analysis. Job analysis is the process of systematically examining the content and requirements of jobs within an organization. The correct option is job analysis.
This involves identifying the duties, responsibilities, and required skills for each position in order to effectively manage staffing and employee performance. By conducting job analysis, Marta is able to gather information about the roles and responsibilities of each job and determine the necessary qualifications for each position. This information can then be used for recruitment and selection processes, as well as for employee training and development.
Additionally, job analysis helps to ensure that each employee's job is aligned with the company's goals and objectives, and that they are adequately compensated for their work. Overall, job analysis is an important task for any human resources manager to perform in order to effectively manage and optimize their workforce.
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Which is a benefit of collaboration and teamwork?
A.It expands your social network and creates new connections.
B.It makes it more difficult to leave your current job.
C.It makes it easier to do your job since you can have other people do it.
D.It requires more work since you have to explain so much to other people.
Answers
Answer:
The Awnser Is A
Explanation:
It's the Best Awnser
How important is money
Answers
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
What are three elements of negligence?
Actual Harm
Breach of duty
State of mind
Duty of care
Proximate cause
Motive
Answers
Answer:
actual harm
breach of duty
duty to act
Which condition is a result of open competition in a free market system?
A. Poor customer service
B. Government regulation
C. Higher prices
D. Higher quality goods
Answers
A result of open competition in a free market system is higher quality goods (option D).
What is the result of open competition?
Competition is when there are many producers operating in a particular industry. Competition is high in purely competitive markets and low in a monopoly. This is because in a pure competition, there are many producers while there is only one producer in a monopoly.
Due to the high level of competition in an industry, prices would be more likely to be low. This is because producers would want to attract more consumers by fairly pricing their goods. Also, producers would want to offer good customer service in order to retain consumers as there are many competing producers in the market. High quality goods are also a way to attract an retain customers.
A free market system is a market system where prices are set by the forces of demand and supply. There is no government regulation in this type of market.
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state governments use to compete with other states and countries to locate businesses in their areas.
Answers
Answer:marketing
Explanation:
The state governments used to compete with other states and countries to locate businesses in their areas, of marketing.
What is businesses?
The term “businesses” refers to earning a profit. The business is taking the risk and earning the profit. The business is mainly focused on the activities of the creation, distribution, and selling of concepts. The businesses are interested in the investment as a future perspective.
According to state governments, are the utilized to the states and nations are the based on the situated are the state and the businesses in the is area are the based on the marketing. Marketing is the practice of a business of promoting the acquisition and selling of goods and services. Marketing consists of promotion, publicity, and advertising.
As a result, the state governments used to compete with other states and countries to locate businesses in their areas, of marketing.
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DETAILS The Cartesian coordinates of a point are given. (a) (4√3,4) (i) Find polar coordinates (r, 8) of the point, where r>0 and 0 ≤ 0 < 2x. (r, 0) = -C (ii) Find polar coordinates (r, ) of the point, where r <0 and 0 ≤ 0 < 2. (r, 0) = =([ (1, -3) (1) Find polar coordinates (r, 0) of the point, where r> 0 and 0 ≤ 0 < 2. (r, 0) = (ii) Find polar coordinates (r, 0) of the point, where r< 0 and 0 ≤ 0 < 2n. (r, 0) = 3. [-/12 Points] (b) MY NOTES
Answers
Given Cartesian coordinate of point as `(4√3,4)`. To find the polar coordinates of the point, we use the following formulas: `r= √x^2+y^2, θ = tan⁻¹(y/x)`We have `(x,y) = (4√3,4)`Therefore, `r = √(4√3)^2 + 4^2 = √48+16 = √64 = 8`Note: √(3^2) = 3`tanθ = y/x` `θ = tan⁻¹(y/x)` `θ = tan⁻¹(4/4√3)` `θ = tan⁻¹(1/√3)` `θ = 30°
`Therefore, polar coordinates are `(r,θ) = (8, 30°)`(a)(i) For `r>0 and 0 ≤ θ < 2π, (r,θ)` is `(8,30°)`.(ii) For `r<0 and 0 ≤ θ < 2π, (r,θ)` is `(-8,30°+π)`(b)Given `(x,y) = (1,-3)`Therefore, `r = √1²+(-3)² = √10`Note: √(3^2) = 3`tanθ = y/x` `θ = tan⁻¹(y/x)` `θ = tan⁻¹(-3/1)` `θ = -71.57°`Therefore, polar coordinates are `(r,θ) = (√10,-71.57°)`(b)(i) For `r>0 and 0 ≤ θ < 2π, (r,θ)` is `(√10,-71.57°)`.(ii) For `r<0 and 0 ≤ θ < 2π, (r,θ)` is `(-√10,-71.57°+π)`Therefore, polar coordinates are`(√10,-71.57°)and(-√10,-108.43°)`.
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please show work. i upvote!
In an engine, a piston oscillates with simple harmonic motion so that its position varies according to the expression x = 7.7 cos (12.7 t +-2.8) where x is in centimeters and t is in seconds. What is
Answers
We may compare the supplied expression with the accepted equation of simple harmonic motion to get the angular frequency and phase constant of the motion:
x = A cos(t plus )
The following values can be found in the formula x = 7.7 cos(12.7t 2.8), as given:
Intensity (A) = 7.7 cm
Angle frequency is equal to 12.7 rad/s.
Phase factor () = 2.8
The phase constant () denotes the beginning phase or displacement of the motion, while the angular frequency () denotes the speed at which the piston oscillates.
The piston oscillates in a positive direction because the angular frequency () is positive (12.7). Two possible values for the phase constant () correspond to two different beginning displacements: +2.8 and -2.8.
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which of the following statements is true about the relationship between high birthrates and real gdp growth?
Answers
The relationship between high birthrates and real GDP growth is complex and context-dependent.
What does it entail?In some cases, high birthrates can lead to increased demand for goods and services, leading to increased production and economic growth.
However, high birthrates can also lead to resource depletion, increased competition for jobs, and decreased investment in education and infrastructure, which can ultimately hinder economic growth. Additionally, cultural and social factors may influence the relationship between high birthrates and economic growth.
Therefore, it is important to consider the specific circumstances and dynamics at play when evaluating the relationship between birthrates and GDP growth.
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Q3. Which of the following is the relation that the law of demand defines?
a) Income and price of a commodity
b) Price and quantity of a commodity
c) Income and quantity demanded
d) Quantity demanded and quantity supplied
Answers
Answer:
price and quantity demanded
Explanation:
law of demand sates that their exist a inverse relationship between the price of the commodity and the quantity of the commodity that will be demanded that means if the price is low then the quantity demanded by the customers will be high and if the price of the commodity is high or we can say the product price is high then the quantity demand by the customers or consumers will be less.
suppose there are two pens of price ten and twenty then the pen of price ten will be in more demand as compared to twenty and the pen which is of price of twenty will be demanded less in the market by the customers or the consumers
What is the type of economy: traditional-free market - command or mixed. And what is the place in the business cycle: prosperity- recovery- recession or depression
Answers
Answer:
The four stages of the economic cycle are also referred to as the business cycle. These four stages are expansion, peak, contraction, and trough. During the expansion phase, the economy experiences relatively rapid growth, interest rates tend to be low, production increases, and inflationary pressures build
Uploaded ads give advertisers access to more inventory than responsive display ads.
Answers
Uploaded advertisements (ads) give advertisers access to more inventory than responsive display advertisements (ads): False.
What is an advertisement?An advertisement refers to the promotional multimedia messages that are designed and developed with the sole intention of making the various goods or services that are being offered by a business firm or an entrepreneur to become known, popular and familiar to all of its customers and potential customers.
The types of advertisement.Generally, there are various medium that are used for the advertisement of goods or services and these include the following:
Uploaded advertisements (ads).Responsive display advertisements (ads).In conclusion, it is false to say that uploaded advertisements (ads) give advertisers access to more inventory than responsive display advertisements (ads).
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A rule that requires developers to provide purchasers with written comprehensive property reports and disclosures with a sales contract is created by the A) Georgia Time-Share Act. B) Georgia Land Sales Act. C) Condominium Declaration. D) Georgia Condominium Act.
Answers
Georgia Condominium Act is the law that requires developers to present purchasers written documents of all their agreement about the property involved.
Georgia Condominium Act?Georgia Condominium Act is a rule that requires developer to give a written document contains the terms surrounding the purchase and sale agreement on the property between between the parties involved. All relevant information about the property and the financial cost , deadlines are stated in the documents plus every other necessary agreements. individuals.
Therefore, Georgia Condominium Act. is the law that requires developers to present purchasers written documents of all their agreement about the property involved.
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the ____________________ is based on the prices of merchandise that are exported or imported.
Answers
The International price index is based on the prices of merchandise that are exported or imported.
What can a boosted post help an advertiser achieve?
Answers
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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5. Describe at least two methods you would use to identify job opportunities if you were
looking for a job. Explain why you would use these methods for job seeking. (1-2
sentences. 3.0 points)
Answers
Explanation:
job analysis media advatirsment
Answer:
Looking on social media platforms for companies that are hiring, (social media marketing), and brining resumes into employers (resume advertising)
Explanation:
Introduction to business!
On July 1, 2020, Ivanhoe Co. pays $13,860 to Shamrock Insurance Co. for a 3-year insurance policy. Both companies have fiscal years ending December 31. For Ivanhoe Co., journalize the entry on July 1 and the adjusting entry on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)
Account Titles and Explanation Debit Credit Date
Answers
On July 1, 2020, Ivanhoe Co. would record the payment of $13,860 to Shamrock Insurance Co. as follows: Debit Prepaid Insurance $13,860 and Credit Cash $13,860.
On December 31, 2020, Ivanhoe Co. would make an adjusting entry to recognize the portion of the insurance that has expired. They would Debit Insurance Expense $4,620 and Credit Prepaid Insurance $4,620.
On July 1, 2020, Ivanhoe Co. paid $13,860 to Shamrock Insurance Co. for a 3-year insurance policy. The journal entry for this transaction would involve debiting the Prepaid Insurance account and crediting the Cash account with $13,860. This initial entry reflects the exchange of cash for the prepaid insurance policy.
On December 31, Ivanhoe Co. needs to make an adjusting entry to recognize the portion of the insurance policy that has been used up or expired. Since the policy covers a period of 3 years, the adjustment should be made at the end of each fiscal year. To record this adjustment, the Prepaid Insurance account is debited and the Insurance Expense account is credited with the portion of the policy that has been used or expired during the current fiscal year.
In summary, the initial journal entry on July 1 involves debiting Prepaid Insurance and crediting Cash, reflecting the payment for a 3-year insurance policy. The adjusting entry on December 31 involves debiting Prepaid Insurance and crediting Insurance Expense, recognizing the portion of the policy that has been used or expired during the fiscal year. These entries ensure the proper recognition of the insurance expense over the period covered by the policy.
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Which situation shows how a consumer's prior decision influences their future decisions within the same product category
Answers
The that shows how a consumer's prior decision influences their future decisions within the same product category is when a consumer joins a health club and needs to buy running shoes and athletic wear.
What are future decisions?Future decisions are those decisions that can be made by customer after a thorough examination of a particular product.
Then they can now make a decision whether to buy or not.
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which kind of budget will cause the largest increase in a country's national debt
Answers
What makes an Interior Design Business so successful
Answers
Answer:
the soft ness of the fabric