We have the journal entry for The Cove at Mill Lake, Inc.'s purchase of inventory on August 1, 2019. To journalize the company's purchase of inventory, we need to record the inventory and notes payable.
Inventory: $46,000
Notes Payable: $46,000
This entry reflects an increase in inventory, which is a debit account, and an increase in notes payable, which is a credit account. No explanation is needed in the journal entry.
Note that the interest expense is not recorded at the time of purchase. It will be accrued over the six-month term of the note and recorded separately in the company's financial statements.
1. Journalize the company's purchase of inventory:
Date: August 1, 2019
Accounts:
Debit: Inventory - $46,000
Credit: Notes Payable - $46,000
Journal entry:
Inventory - 46,000
Notes Payable - 46,000
This journal entry records the purchase of inventory by debiting the Inventory account for the cost of the inventory, $46,000, and crediting the Notes Payable account for the short-term note payable signed for the same amount.
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1.1.2 Quiz: Business Goals and Standards
Question 1 of 10
Define the word profit in business.
OA. Money left after costs are paid
B. Commercial activity
OC. Quality care
OD. Structure for wealth
SUBMIT
The word profit in business means the money left after costs are paid (option A).
What are the costs or business expenses?Costs or expenses in business include the costs that are considered necessary and ordinary as well. Business expenses include travel charges, bank fees, bank interests, payroll of the employees, fees, commissions, and office equipment.
The money that is left after paying the business expenses or the costs includes the profit. It is important to mention that businesses have to pay their business expenses and after deducting that money, the amount that is left with a business organization is the profit.
It can be concluded that the word profit in business means the money left after costs are paid (option A).
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explain the role that chartered european monopoly companies (such as the british east india company) in facilitating the global circulation of goods.
The new global circulation of goods was facilitated by royal chartered European monopoly companies that took silver from Spanish colonies in the Americas to purchase Asian goods for the Atlantic markets.
Monopoly offers an advantage over others: a long, wonderful, and aggressive recreation. Monopoly is one of the most popular board games in the global. Its gadget of hire, buildings, mortgages, and auctions reflects the capitalist financial system.
A monopoly is described as an unmarried seller or producer that excludes competition from providing an identical product. A monopoly can dictate fee adjustments and creates limitations for competitors to go into the market.
Monopoly is a traditional, easy-to-play board sport that can be enjoyed through to 8 players. keep away from going bankrupt, and emerge as the wealthiest participant gambling to win this recreation.
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Assume that sparks uses a perpetual specific identification inventory system. its ending inventory consists of 2 units from beginning inventory, 4 units from the jan. 5 purchase, and 10 units from the jan. 29 purchases. calculate the dollar value of its ending inventory.
The dollar value of the ending inventory is given as $264
How to solve for the dollar value of ending inventoryThrough the specific identification system, we can identify units through the use of accounting principles.
We have to multiply the number of units of inventory by the amount that it costs.
Hence we have
2 * 12 + 4 * 15 + 10 * 18
This gives us $264 as the dollar value of the inventory.
Complete questionAssume that Sparks uses a perpetual specific identification inventory system. Its ending inventory consists of 2 units from beginning inventory, 4 units from the Jan. 5 purchase, and 10 units from the Jan. 30 purchases. Calculate the dollar value of its ending inventory.
Jan 1
Beginning Inventory
10 at $12
Jan 5
Purchase
10 at $15
Jan 30
Purchase
10 at $18
Feb 8
Sale
14 units
$186
$264
$160
$450
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Answer:$264
Explanation:
Utilizing your research notes, imagine you are a business manager and you must create a brief step-by-step problem-solving guide to be used by your employees. The guide should outline the steps in the problem solving process and provide a few details as to how an individual could approach each step. The guide should be no more than one page. Be sure to explain the value of collaboration and teamwork within the workplace.
Answer:
Define the problem
Analyze the affects of problem on the business
Generate list possible solutions to it.
Evaluate each alternative.
Implement a solution that is best fit
Monitor the results
Explanation:
There are six steps in problem solving. As a business manager one should understand all these steps to immediately counter a problem and progress for business success. The business manager should first define the problem and analyse the affects that it may cause to the business operations. He should then consider list of possible solutions which can solve the problem without any harm to business activities. The best possible solution to the problem should be selected and then it should be implemented to solve the problem quickly. The progress of the problem solving should be evaluated.
Post the following November transactions to T-accounts for Accounts Payable, Inventory, and Cash, indicating the ending balance. Assume no beginning balances in Accounts Payable and Inventory, and a beginning Cash balance of $36,000. A. Purchased merchandise inventory on account, $16,900. B. Paid vendors for part of inventory purchased earlier in month, $11,100. C. Purchased merchandise inventory for cash, $10,400.
Answer and Explanation:
The preparation of the T-accounts are as follows:
For Account payable
Cash $11,100 Inventory $16,900
Balance $5,800
Total $16,900 Total $16,900
For Inventory
Account payable $16,900
Cash $10,400 Balance $27,300
Total $27,300 Total $27,300
For cash
Opening balance $36,000 Account payable $11,100
Inventory $10,400
Balance $14,500
Total $36,000 Total $36,000
_______ is effective for sharing routine information
Information sharing is effective for sharing the routine information.
What is Information sharing?Information sharing describes the exchange of information between various businesses, individuals, and technological platforms. Widely dispersed networks, intranets, cross-platform interoperability, application porting, and IP protocol standardization have all dramatically accelerated the sharing of information globally. However, the majority of countries have laws that prohibit transmitting personal information without explicit authorization, regardless of how easy the data transfer itself may be. In the United States and Europe, it is against the law to share a person's personal information without that person's express agreement. Information sharing is expanding as more networks and organizations connect up and it becomes easier to share information online. There are numerous additional forms of information sharing that are not illegal.
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If the minimum wage for teenagers increased to a rate higher than their market equilibrium wage, what would be the effect on their wage and employment?.
The effect on wage is increase and the effect of employment is decrease if the minimum wage for teenagers increased to a rate higher than their market equilibrium wage.
A minimum wage can be described as the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Minimum wage cannot be reduced by collective agreement or an individual contract. The minimum wage legislation had introduced by most of countries in the end of the 20th century.
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Herring and henderson contend that diversity includes valuing differences between groups but must also include addressing issues of ______, ______, and ______
Herring and Henderson contend that diversity includes valuing differences between groups but must also include addressing issues of parity, equity, and inequality.
The diversity business case has its roots in the evolution of the diversity model in the workplace since the 1960s. In the United States, the original diversity model was based on affirmative action in line with the goals of equal employment opportunities set out in the Civil Rights Act of 1964.
The idea is that anyone who is academically or physically qualified for a particular job can aspire (and perhaps succeed) to win a designated job without discrimination based on identity. Equal employment opportunities based on.
This compliance-based model led to the idea that Tokenism was the reason people were hired by the company when they were different from the dominant group. Minority group dissatisfaction eventually changed and/or increased the desire for perfect employment opportunities in any job.
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relative to the initial equilibrium, when both the demand curve and supply curves shift left, there will be
A decrease in the price and an increase in the quantity of the good or service. As a result, the price will decrease to bring the quantity demanded back in line with the quantity supplied.
When both the demand curve and supply curve shift left, it indicates that there has been a change in the market conditions that has led to a decrease in the price and an increase in the quantity of the good or service. This is because the leftward shift of the demand and supply curves reflects a change in the equilibrium point, which is the point at which the quantity demanded equals the quantity supplied.
When both curves shift left, it means that the equilibrium point has moved to the left, indicating that there is now more quantity demanded than supplied at the new equilibrium price. As a result, the price will decrease to bring the quantity demanded back in line with the quantity supplied. Similarly, when both the demand curve and supply curve shift left, it also means that the equilibrium point has moved to the left, indicating that there is now more quantity supplied than demanded at the new equilibrium price.
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one element for describing a design case is outlining the design process and the approach used to document design decisions. for example, the design case associated with the development of an educational game describes weekly team meetings, the technology used for communication between meetings, and exactly how design decisions were documented (lara, myers, frick, aslan, & michaelidou, 2010). these types of details would not normally be included in an article reporting on empirical research.
One element for describing a design case is outlining the design process and the approach used to document design decisions.
Why is it important to outline the design process and document design decisions in a design case?Outlining the design process and documenting design decisions in a design case is essential for several reasons. Firstly, it provides a comprehensive understanding of the steps and methods followed during the design project. By describing the design process, including activities such as team meetings and communication technologies utilized, it offers insights into the collaboration and coordination involved in the project.
Furthermore, documenting design decisions serves multiple purposes. It enables transparency by capturing the rationale behind each decision, which aids in understanding the design choices made. This documentation can also serve as a reference for future iterations or similar projects, helping designers learn from previous experiences and build upon them.
Moreover, including such detailed information in a design case is particularly relevant as it differs from articles reporting on empirical research. While empirical research primarily focuses on data collection and analysis, a design case provides a narrative that highlights the contextual nuances and practical considerations of the design process.
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what is the square root of 378
What is more important: everyone doing their part or the leader doing it all? Why? (Take your time)
Answer:
Doing their part
Explanation:
People need to always help out and never relie on sombody doing it for the,even if tht was the case they would never get the satisfaction of knowing they helpped partake in something (exuse me bad spelling)
mona purchased a business from judah for $1,000,000. judah's records and an appraiser provided her with the following information regarding the assets purchased:
Adjusted Basis
FMV
Land
$195,000
$270,000
Building
310,000
450,000
Equipment
95,000
180,000
Mona's adjusted basis for the land, building and equipment is $270,000 for the land, $450,000 for the building, and $180,000 for the equipment.
To calculate Mona's adjusted basis for each asset, we need to determine the higher of the adjusted basis or the fair market value (FMV) for each asset.
Here are the calculations for each asset:
Land: Mona's adjusted basis for the land is the higher of the adjusted basis or FMV, which is $279,000 (the FMV).Building: Mona's adjusted basis for the building is the higher of the adjusted basis or FMV, which is $450,000 (the FMV).Equipment: Mona's adjusted basis for the equipment is the higher of the adjusted basis or FMV, which is $95,000 (the adjusted basis) since it is higher than the FMV of $180,000.Therefore, Mona's adjusted basis for the land, building and equipment are $270,000, $450,000 and $180,000, respectively.
The complete question:
Mona purchased a business from Judah for $1 million. Judah's records and an appraiser provided her with the following information regarding the assets:
Land
--Adjusted Basis $195,000--FMV $270,000Buliding
--Adjusted Basis $310,000--FMV $450,000Equipment
--Adjusted Basis $95,000--FMV $180,000What is Mona's adjusted basis for the land, building and equipment?
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Read this statement: The primary goal of the business firm is to maximize the wealth of the firm's owners. For a corporation, this statement means that managers should focus on maximizing the wealth of its shareholders or its:
Answer:
The correct answer is: Stock Price.
Explanation:
To begin with, those organization that are focus on making profits are the ones who have to work in order to ensure the fact of maximizing the wealth of is shareholders or its stock price so in that way when the price rises the money that will enter the company will be increase as well too. So that is why that the managers to the companies must focus on the task of improving the production and all the systems of the organization so that will mean that the company is trying to sell more and therefore to maximize its profits due to its primary goal.
An iPad is part of the ____________________ when bought by end users, but it is part of the ____________________ when a salesperson purchases it to take orders.
Sanibel Autos Inc. merged with its competitor Vroom Autos Inc. This allowed Sanibel Autos to use its technological competencies along with Vroom Autos' marketing capabilities to capture a larger market share than what the two entities individually held. What type of integration does this scenario best illustrate?A. vertical B. technological C. horizontal D. perfect
Answer:
Horizontal integration
Explanation:
Integration is a strategy used by businesses to gain a better market share. It involves cooperating with other business owners to increase sales for both parties.
Horizontal integration is when businesses bate the same level in the value chain collaborate to increase profits.
In the give scenario Sanibel Autos Inc. merged with its competitor Vroom Autos Inc, and Sanibel Autos to use its technological competencies along with Vroom Autos' marketing capabilities to capture a larger market share.
The stage of value chain is when businesses prospect for customers. This interpretation enables them gain more customers.
Trevor is a marketing professional in a small firm. He wants to promote his firm’s online shopping website. He targets only those customers in his promotional strategy who use online shopping. Which form of marketing does Trevor demonstrate?
A.
telemarketing
B.
outbound marketing
C.
social marketing
D.
inbound marketing
Answer:
Ya it is D
Explanation: I got it right so you should too
CTSO Unit 1 – 5pts
SkillsUSA is a partnership of students, teachers and industry working together to ensure America has a skilled workforce.
Directions: Use the following links to research and answer the following questions in 3-5 sentences.
https://www.skillsusa.org/programs/program-of-work/
https://www.skillsusa.org/about/skillsusa-framework/
https://www.skillsusa.org/about/history-brand-resources/
1. What is the SkillsUSA Framework?
2. What is the connection between the Framework and industry?
3. What is the SkillsUSA Program of Work?
4. What is the SkillsUSA mission?
5. What are the official colors of the organization and what do they represent?
The SkillsUSA Framework guarantees that student participants acquire the skills needed by companies and industries.
The connection between the Framework and industry is to provide talented and skilled individuals for the growth of the economy.
The SkillsUSA Program is a chapter management tool. Work empowers each student to succeed in their career
The SkillsUSA mission is " to empower members to become world-class workers" leaders and responsible American citizens.
The official colors of the organization are red, white, blue, and gold which represents states, chapter as well as individual identity.
What is a career?A career is referred to what an individual chooses as a profession to earn something. A career of an individual is based on his talents, skills, and abilities which help him to seek growth and development and achieve the goals of life.
With the aim of supplying America with a trained workforce, SkillsUSA is a program that draws together the American industrial workforce, teachers, and students.
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if the head of a company has political economic or social views which you learn about and find problematic, is it ethical to boyCott publicly or privately?
According to public choice theory, individual self-interests influence the actions of.
Public choice theory is undisruptive of economics. It describes how human beings participate in making decisions. Various studies have shown that individual self-interest is the force behind taking decisions.
Although there are some people who make decisions for the sake of others the majority make decisions for self-interest. Public choice theory argues that individuals in the public sector make choices that maximize their utility.
People seek solutions consistent with their self-interest. Public choice seeks to maximize his or her own utility. The public choice theory explains government decisions making as a result of individual self-interest. Public choice insists on using the same model of behavior throughout.
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Natural resources occur in the environment.
False
True
Example of services are ________.
Example of goods are _____________.
A renewable resource cannot be exhausted.
True
False
Answer:
true they occur in the environment
we have business service (business transport service)
social service (food service )
personal service
mention the consumer goods (clothing and food)
true
4. Determine the importance of environment conservation from the business viewpoint
Answer:
Economic expansion is not what is causing the climate crisis; rather, the lack of effective public policy meant to lower greenhouse gas emissions is to blame. As long as regulations are in place to limit the environmental effects of the goods and services we produce and use, there is no conflict between capitalism and environmental protection. With those regulations in place, consideration for environmental sustainability can and will be factored into every decision made by the private, nonprofit, and governmental organizations from which we all benefit.
The sustainability of the environment is not affected in the same way by all consumption patterns. The emergence of more sustainable lifestyles can be seen in consumption trends. Young Americans, for instance, don't seem as interested in buying cars as their parents and older siblings did. The advancement of the mobile phone has made ride-sharing, bike-sharing, and other transit options possible.
However, taking an Uber or driving your own car are both considered economic activities for the purposes of calculating GDP. These consumption patterns are typically not the subject of policymaking because they are quite influenced by shifting social norms than by governmental action. The only exceptions might be behavior that directly harms other people, like drinking and driving or smoking in public. New technologies can also lessen the impact of consumption on the environment.
Ironically, some environmentalists and some deniers of global warming share the view that environmental protection and economic growth must be compromised. Both can and must be done. Because most people in the developed world enjoy their way of life and won't give it up, we cannot stop investing in economic development. Environmental advocates will fail politically if they make such a request.
Explanation:
Political and business leaders may not care if economic growth harms the environment, and environmentalists may disagree, contending that neither economic growth nor environmental harm can coexist.
Even by itself, environmental protection promotes economic expansion. The air pollution control technologies we install on power plants and automobiles are made and sold by a third party. Additionally, environmental amenities are valuable.
on monday kyle had $525 in his bank account. tuesday he spent $75 on groceries, on wednesday he paid $125 for his phone bill. friday kyle received his paycheck, now he has $1,567 in his bank account. how much was kyle’s paycheck?
Kyle's paycheck amount is $1,242. To determine Kyle's paycheck amount, we need to calculate the change in his bank account balance between Wednesday and Friday.
Kyle's bank account balance on Wednesday after paying his phone bill:
$525 - $75 (groceries) - $125 (phone bill) = $325
The increase in Kyle's bank account balance from Wednesday to Friday is:
$1,567 - $325 = $1,242
Therefore, Kyle's paycheck amount is $1,242.
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HEY PLEASE SOMEONE HELP I NEED TO SUBMIT THIS WORK IN 30 MINUTES PLEASEEE!!!
Which method of distribution is suitable for sale of Coke in your school? Justify your answer.
The Coca-Cola Company sells its products to bottling and canning operations, distributers, fountain wholesalers and some fountain retailers. They then distribute them to retail outlets, corner stores, restaurants, petrol stations and many more.
When I had this question I found the link witch is on the document very helpful.
I hope this helps.
PLS HELPPP!!! FASTTT!!! A firm has three different investment options. Option A will give the firm $10 million at the end of one year, $10 million at the end of two years, and $10 million at the end of three years. Option B will give the firm $15 million at the end of one year, $10 million at the end of two years, and $5 million at the end of three years. Option C will give the firm $30 million at the end of one year, and nothing thereafter. Which of these options has the highest present value?
a. Option A
b. Option B
c. Option C
d. The answer depends on the rate of interest, which is not specified here.
Answer:
i would say d
Explanation:
martys anual salary is 56,000 as a computer aided designer if the state tax rate is 4% what does he pay yearly in a state taxes
Marty's annual salary is $56,000 as a computer aided designer. If the state tax rate is 4%, Marty pays $2,240 in state taxes yearly.
What is salary?
An employment contract may include a salary clause as a type of recurring payment from an employer to an employee. In contrast, piece wages are paid separately for each job, hour, or other unit rather than on a regular schedule. Salary can also be seen from the perspective of operating a corporation as the expense of obtaining and keeping employees to carry out operations; this is known as a personnel expense or salary expense. Payroll accounts are used in accounting to record salaries. A salary is a set sum of money or other remuneration that a company gives to an employee in exchange for work completed. Salary is frequently paid at predetermined periods, such as monthly instalments equal to one-twelfth of the annual salary.
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Assume a nation's Nominal GDP is $1.3
trillion with an inflation rate of 9%. Find
its Real GDP.
A nation's nominal GDP is $1.3 trillion with an inflation rate of 9%. ∴ The real GDP is 14.44 trillion.
A measure of the level of prices for all newly manufactured, domestically sourced final products and services in an economy is the GDP deflator. It is determined by dividing the nominal GDP by the real GDP measure. real GDP is a macroeconomic metric that accounts for price fluctuations to reflect the worth of an economy's output (inflation or deflation).
Nominal GDP: An inflation-unadjusted macroeconomic indicator of the value of the economy's production.
GDP deflator( inflation rate = 9% ) = \(\frac{Nominal GDP}{Real GDP}\) × 100
Given,
Nominal GDP = $ 1.3 trillion
Inflation rate = 9%
Real GDP = \(\frac{1.3}{9}\) × 100
Real GDP = 14.44
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After a presentation is created, there is nothing left to do.
True
False
Answer:
false
Explanation:
The chart shows a sample paycheck stub.
A 2-column table has 6 rows. The first column has entries Salary, Federal income tax, social security tax, medicare tax, state income tax, and net pay. The second column has entries 1106.45, 122.67, 68.60, 16.04, 10.33, and 888.81.
The chart shows that federal and state taxes are
added to employee pay.
withheld from employee pay.
refunded in employee pay.
filed through employee pay.
Answer:
withheld from employee pay.
Explanation:
The term withheld means that the employer deducts the taxes from the employee's pay when processing the payroll. By withholding, the money meant for taxes will not get to the employees' accounts.
The employee's gross pay is $1,106. 45. the next pay is $888.41. the employer must have made some deductions that have reduced the net pay to $888.41. These deductions are the tax amounts that have been withheld by the employer.
What is your initial response to the Pantene ad shown in the video?
I think that it is time to finally see the rise of women that is taking over because for whatever reason men feel as though this is “a mans world”. Its sad that when women try and take over we’re are being ‘’bossy’’, ‘’pushy’’, ‘’annoying’’, or that “we think we know everything”. When in reality it’s the other way around. Men can be all of those things but yet, no one acknowledges these things. Men feel as though they know everything and that women don’t know anything. I feel as though there should be more people that look like me in charge. Now you may say “What do you mean?” I mean that I want to see more women taking control. We aren’t trying to seem “bossy” or “pushy” when giving directions or anything, we just want whatever the task is to be done right! I want to see more women because as a female I feel as though I need the empowerment.