On January 6, Aaron Co. sells merchandise on account to Foley Inc. for $9,000, terms 2/10, n/30. On January 16, Foley pays the amount due. Prepare Aaron Company's January 16th journal-entry.
Answers
The January 16th journal entry for Aaron Company would be as follows:
Debit: Cash - $8,820
Credit: Accounts Receivable - Foley Inc. - $9,000
Credit: Sales Discounts - $180
When Foley Inc. pays on January 16th, they take advantage of the 2% discount for paying within 10 days. This means that they only owe $8,820 ($9,000 - $180) instead of the full amount of $9,000. The debit to cash reflects the payment received, while the credit to accounts receivable reduces the amount owed by Foley Inc. The credit to sales discounts reflects the discount given to Foley Inc. for paying early.
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Related Questions
four descriptive terms describing possible experience a person may have
Answers
1) John has had instructors that have improved her coding skills.
2) Adam has traveled to many different parts of the world.
What do personal competencies entail in a job?Personal skills, often known as interpersonal or people skills, are a category of soft skills that deal with how a person communicates and interacts with others as well as their surroundings. It can be more difficult to master personal skills. Some of them are dependability, flexibility, problem-solving, and communication.
To submit an effective job application, you must be aware of these talents and how demonstrate that you have acquired them. Interpersonal aptitude increases approachability, likeability, and comfort. Strong interpersonal communication abilities are a quality that managers strive for when leading their teams. They give employees the impression that they can approach their managers with any issues or worries, which is crucial.
3) Joseph has worked at Apple for 15 years.
4) Mary is a good leader and has a capacity for teamwork.
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The complete question is:
Create a bulleted list of four descriptive terms describing possible experience a person may have in job or business.
The price of a Honda Accord
a. and the price of a Honda Accord divided by the price of a Honda Civic are both real variables
b. and the price of a Honda Accord divided by the price of Honda Civic are both nominal variables.
c. is a real variable, and the price of a Honda Accord divided by a Honda Civic is a nominal variable.
d. is a nominal variable and the price of a Honda Accord divided by the price of a Honda Civic is a real variable.
Answers
Answer:
d. is a nominal variable and the price of a Honda Accord divided by the price of a Honda Civic is a real variable.
Explanation:
In domain of economics, nominal varable are value that can be measured in terms of it's monetary value of the price that exist at that particular period of time. For instance blood type and genotype.
real value on the other hand is been measured based on goods/services, it's is the value even when inflation has set in.
What should customer service representatives use to achieve a win-win outcome between customers and their employer?
both hard and soft skills
sales strategies
persuasion
goals and objectives
Answers
Answer:
i think it is the 3rd one I'm not sure but I need help on one of mine and it would be really good if you can help me I will appreciateit
1. kiara is thinking of opening an artisanal cheese store. she forecasts revenues of $200,000 per year, and explicit financial costs of $120,000 per year. she could only pursue this dream if she quits her current job as a teacher, where she earns $40,000 per year. she would also need to invest $100,000 to outfit the store, and she would otherwise use that money to pay down her mortgage, which is at an interest rate of 8% per year. calculate accounting profit, implicit opportunity costs, and economic profit, and assess whether you would advise kiara to launch the new business
Answers
Kiara should be advised to launch the new business as there are economic profits to be made.
How does accounting profit work?Accounting profit is a tool used to evaluate a company's performance and examine how it stacks up against rivals' financial positions. According to the Generally Accepted Accounting Principles, accounting profit is a company's net income, which is derived by deducting expenses from sales (GAAP).
The bottom line of a business is frequently referred to as accounting profit, sometimes known as net income. Accountants use this definition of profit to determine how much money a company has made after costs are deducted from the overall revenue of the organization.
The accounting profit = Revenue forecasted - explicit financial costs
The accounting profit = 200000 - 120000 = $ 80000
Implicit opportunity costs = earnings as a teacher + interest on the mortgage
Implicit opportunity costs = 40000 + 8% * 100000 = $48000
Economic Profit = Accounting Profit - Implicit opportunity costs = $32000
Hence, Kiara should launch the new business as there are economic profits to be made.
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help quick!
According to the video, which qualities do Insurance Underwriters need? Check all that apply.
O communication skills
O customer service skills
Ocomputer skills
Oknowledge of sales strategies
Oan outgoing attitude
O a background in finance
Answers
Answer: 1 3 6 or A C F
Explanation:
I just did it on the edge
Answer:
ACF
Explanation:
got it correct on Edge 2020
17.5 Mark-to-Market Accounting for Trading Securities
At the end of 2017, Huber Company had investments in trading securities as follows (amounts in thousands of euro): Cost Market value Renaud company 1,000 1,300 Helsing,Ltd 900 1,100 Neilsen finencial 1,100 900 3,000 3,3,00 The shares for each company were acquired during 2017. The market values shown above are based on market prices as of the close of trading on 31 December 2017. Required a. Record whatever journal entries are required to implement mark-to-market accounting for Huber Company at the end of 2017. b. Based on the above information, what type of business would you expect Huber Company to engage in, and why? Industrial? Trading and distribution? Retailing? Finance?.
Answers
(a) Journal entries for mark-to-market accounting:
Record an increase in the investment accounts for Renaud Company, Helsing Ltd, and Nielsen Financial to reflect their respective market values. Recognize unrealized gains in the income statement for the increase in market value.What type of business would you expect Huber Company to engage in, and why?Huber Company's investments in trading securities indicate that it is actively involved in buying and selling securities for short-term gains.
Trading securities are typically held by businesses engaged in trading and distribution activities, where the primary objective is to generate profits through buying and selling securities in the market.
(b) Based on the information provided, Huber Company is engaged in trading and distribution.
Huber Company's investments in various companies and the mark-to-market accounting approach demonstrate its involvement in the financial markets and its focus on capitalizing on short-term market fluctuations.
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To determine the scope of a bookkeeping clean-up engagement, you are reviewing the client overview tab for a potential client. You notice that there is a large amount in the opening balance equity account.
Answers
To determine the book-keeping clean-up engagement the clients' inventory set-up process, current asset account, and importing customer data are reviewed.
How do you determine the scope of a bookkeeping clean-up engagement?To figure out how big a bookkeeping clean-up job is, do the following:
1. During the setup procedure, the opening balance for an inventory item was entered.
2. When creating an Other Current Asset account, the client entered an Opening Balance.
3. When utilizing the Import data tool to import customers, opening balances were included.
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your company is manufacturing a new product , you need to establish a product quality control process. what are three things you must do to create/ establish. your product quality control process? (choose 3). 1.) developing the product website and social media campaign ? 2.) setting up your test market strategy ? 3.) review the results of internal quality assurance testing ? 4.) establish the method to use or testing product quality ? 5.) determine what standards have to be met based on the product and industry ? 6.) publish your test results in a popular professional journal?
Answers
Answer:5,4,and1
Explanation:
Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school trip to New Orleans. She prices the cupcakes at $0.50 each. With in 15 minutes she has sold all of her cupcakes, and through out the day teachers and students ask her if she has anymore.
This market model is in a [______]?
This is for a economics class I didn't know what catagory to pick
Answers
Answer:
Shortage
Explanation:
I got it correct because I watched the given recording.
Georgina decides to take a dozen cupcakes to school to sell so she can raise money for her school trip to New Orleans. This market model is in a "competitive market".
Georgina operates in a competitive market characterized by high demand and a desirable product: her cupcakes. The price point of $0.50 each aligns with the perceived value which is resulting in swift sales within 15 minutes.
Subsequent inquiries from both teachers and students demonstrate sustained interest indicating that Georgina's cupcakes have achieved product-market fit.
Georgina's success in selling all cupcakes swiftly and generating ongoing inquiries highlights a well-balanced market equilibrium within the school community.
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Which of the following is most likely to create a long-term trend?
A. Fashion
B. Entertainment
C. Television shows
D. Demographics
Answers
Demographics is most likely to create a long-term trend. Demographics is the study of the characteristics of human populations, such as age, sex, education, income, and race. The correct answer is option D.
These factors have a significant impact on consumer behavior, and thus, they can create long-term trends in the marketplace. As people age, their preferences change, and they tend to consume different products and services. For example, as the baby boomer generation has aged, there has been a trend towards products and services that cater to their needs, such as retirement communities, healthcare, and leisure activities.
Additionally, changes in education, income, and race can create new trends in consumer behavior. For example, if there is an increase in the number of people with higher education degrees, this could lead to a trend towards products and services that cater to their needs, such as high-tech gadgets, gourmet foods, and luxury vacations. Therefore, demographics is most likely to create a long-term trend. The correct answer is option D.
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Which of the following are not traits of entrepreneurs?
I
energy
dishonesty
dedication
dependence
Answers
Answer: dishonesty and dependence.
Explanation:
Dishonesty are not traits of entrepreneurs. Entrepreneurs often have a knack for thinking outside the box, generating new ideas, and finding innovative solutions to problems. The answer is OPTION B.
Risk-taking: Entrepreneurs are willing to take calculated risks and step out of their comfort zones to pursue their business ideas.
Passion: Successful entrepreneurs are deeply passionate about their ventures, which fuels their motivation and perseverance.
Vision: Entrepreneurs have a clear vision of their goals and a strong sense of where they want to take their businesses in the long term.
Adaptability: They can quickly adapt to changing circumstances, markets, and trends, allowing them to stay relevant and competitive.
Persistence: Entrepreneurs demonstrate resilience in the face of challenges, setbacks, and failures, and they are committed to overcoming obstacles.
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PLZ HELP ON TIMER CARRERS!!!!! 15 POINTS
The advantages of being an entrepreneur are _____.
a.
excitement, independence, and financial risk
b.
flexibility, independence, and salary potential
c.
short working hours, independence, and financial risk
d.
administration, short working hours, and excitement
Please select the best answer from the choices provided
Answers
Answer:
B.
Explanation:
It seems most reasonable.
Which of the marketing mix elements corresponds to what the buyer gives up in the marketing exchange?.
Answers
Price is the element of the marketing mix that corresponds to what the buyer gives up in the marketing exchange.
What is the marketing mix?They are the set of activities performed by marketing to promote a product or service and increase the profitability of a company. The four Ps of marketing are:
ProductPricePlacePromotionTherefore, the objective of the marketing mix is to increase the value of the brand and its positioning through the creation of value for the consumer.
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Select the correct text in the passage.
What sentences in the following passage indicate increased expenses for developing the advertisement?
An exercise equipment company decided to create demand for its latest plece of equipment through a TV commercial. For this purpose, it hired
an ad agency reputed for its creative skills. This agency pitched five different concepts to its client. After an extensive internal discussion, the
client gave approval for one of the ideas. The next step was to write script for the ad. Using in-house cloud-based scripting software, the agency
wrote scripts in real time. This made it easier for company to communicate effectively with the ad makers. The company also approved the
tagline and storyboard for its product. The agency hired professional actors for enacting the scene.
Answers
paragraph 2 I hope sorry if it's wrong
Answer:
For this purpose, it hired an ad agency reputed for its creative skills
and The agency hired professional actors for enacting the scene
Explanation:
both requires money. to hire someone you need money which shows a increase of expenses
Which of the following statements concerning a monopolistically competitive industry is correct? Multiple Choice If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right. If there are short-run economic profits, firms will enter the industry and the demand curves of existing firms will shift to the right. If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the left. If there are short-run economic profits, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
Answers
Answer:
If there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right.
Explanation:
Monopolistic competition can be defined as an imperfect competition where many producers or organizations sell differentiated products that are not perfect substitutes. Examples of firms or organizations engaging in a monopolistic competition are restaurants, shoes, clothing lines etc.
Generally, a monopolistic competitive market is characterized by the presence of large numbers of firm (producers) and a very low entry barrier.
Hence, in a monopolistic competition, firms have a degree of control over price, make independent decisions and can freely enter or exit the market in the long-run. Therefore, these firms combine elements of both monopoly and competition.
When a monopolistically competitive firm is in long-run equilibrium marginal revenue is equal to marginal cost (MR = MC) . This ultimately implies that in the long-run, firms engaging in monopolistic competitive market are often going to manufacture the quantity of goods where the marginal cost (MC) curve intersect with the marginal revenue (MR). Also, the price set would be greater than the minimum average total cost (ATC).
Thus, a monopolistic competitive producer has a highly elastic demand curve and firms would eventually break even in the long-run.
Hence, the true or correct statement concerning a monopolistically competitive industry is that, if there are short-run losses, firms will leave the industry and the demand curves of the remaining firms will shift to the right i.e there would be an increase in the demand for their products.
WHO IS THIS ECHO PERSON? LIKE WHY ARE YOU GETTING RID OF MY STUFF??
Answers
Answer:
no c
Explanation:
Answer:
I dont know but i think it might be an admin
Explanation:
also have a good weekend :3
On average, a person with a bachelor's degree earns
than a person
with an associate degree and
than a person with a master's
degree.
Answers
Answer:
More than a person with an associate degree and less than a person with a masters degree.
Explanation:
all four areas of social responsibility for firms (economic, legal, ethical, and discretionary) are of equal importance in a firm's overall level of social responsibility.
Answers
A company's overall level of social responsibility depends on all four dimensions of corporate social responsibility: economic, legal, ethical, and discretionary. This statement is true.
Corporate social responsibility, or CSR, is a business strategy that takes into account how an organization affects society, its workforce, and other stakeholders. CSR is used to reduce harm, conduct ethical business, be accountable along the entire global supply chain, engage in philanthropy, and develop a self-directed human resource management system.
Throughout the 1950s and 1960s, social activist organizations (as well as others) promoted corporate social responsibility. The message to be socially and environmentally conscious, however, didn't become crystal evident until the 1970s.
Carroll's methodology establishes consistency in an area lacking a precise, predetermined definition. However, since this model was created in 1991, it is no longer relevant in the current corporate climate.
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Correct question:
All four areas of social responsibility for companies (economic, legal, ethical, and discretionary) are equally important to a company's overall level of social responsibility. True or false.
Franklin Inc., an apparel manufacturer based in Scotland, opened a new store in the United States. Franklin's designs were well received by consumers in the host country. However, the firm incurred very high expenses due to the expensive rents and the higher costs of labor. Also, there was a hike in the price of fuel in the United States. This led to increased expenditures on the transportation of goods. This indicates that Franklin Inc. had serious issues in the United States due to poor: Group of answer choices
Answers
Answer:
Economic conditions
Explanation:
Since in the question it is mentioned that the firm would incurred greater amount of expenses because of the expensive rents and the labor cost also their would be increase in the fuel price due to this it would increase the expenditure on the transportation so here the serious issues would be with the economic conditions as the price expenses denotes the economics
Therefore it represent the economic conditions
_____ refers to how much a customer will spend in the future.
Answers
Customer Lifetime Value (CLV) refers to how much a customer will spend in the future.
Customer Lifetime Value refers to the estimated monetary value that a customer is expected to generate for a business over the entire duration of their relationship. It represents the total revenue that a customer is likely to spend on the company's products or services throughout their lifetime as a customer.
CLV takes into account factors such as the customer's purchasing frequency, average transaction value, and the expected duration of the customer relationship. By analyzing these factors, businesses can make strategic decisions regarding customer acquisition, retention, and marketing strategies.
The concept of CLV is important for businesses as it helps them understand the long-term value of acquiring and retaining customers. It enables companies to allocate resources effectively, prioritize customer segments, and tailor their marketing efforts to maximize customer satisfaction and profitability.
Customer Lifetime Value is a crucial metric that allows businesses to assess the potential future spending of customers. By understanding the CLV, companies can make informed decisions and implement strategies to optimize customer relationships and drive long-term growth and profitability.
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Hi, I need a catchy slogan for my business project my business is about sewing so please if you can include something using that.
Ex. Sew and be happy but something better than that lol
Answers
Answer: can I ask your name, and what you like about sewing is it would help me
_____ include tools and equipment used to produce goods and services.
a. Capital resources
b. Consumer resources
c. Human resources
d. Natural resources
Answers
Answer:
The correct answer is B!
Explanation:
Consumer resources, include tools and equipment used to produce goods and services. Thus, option (b) is correct.
What is goods?
The term goods as the another name was the commodities. The goods are the sold to the exchange of the money. The goods are the produced with the help of raw material. The goods are the based on the two prices, such as the manufacturing prices and retail prices. The goods are the two types are the raw goods and the finished goods.
According to the manufactured goods and services as the companies are the manufacturing to the based on the consumer resources. The foundation is built on economic development. Factors of production are the resources used to create all commodities and services.
As a result, the consumer resources, include tools and equipment used to produce goods and services.
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ok, legit question are you ready?
Ok why has no one added me back or added me period
Answers
Answer:
whatttt
Explanation:
Answer: me
Explanation:
I'll add you
whats the right option for ava
Answers
The decision to either buy or lease based on the given requirements by Ava include:
Want to live here for a long time - Buy Want the chance to make money if I leave - Buy Interested in rental income - Buy Don't love to do repairs - Lease Why should Ava buy or lease ?If you have a strong desire to settle down in a particular area and establish long-term roots, buying a property might be a suitable option. If you anticipate the possibility of relocating in the future and want the opportunity to earn money from your property, buying a home can offer potential financial benefits.
If generating rental income is a significant factor for you, purchasing a property to rent out could be a viable option. If you prefer to avoid the responsibilities and costs associated with property repairs and maintenance, leasing might be more suitable for Ava .
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Answer the following:
41. Elena is the owner of a company that manufactures raincoats. Elena currently produces 25 raincoats a day. Elena cannot produce more raincoats per day unless she buys another sewing machine. Elena is efficient _____________________.
a. Economically
b. Deal
c. of the consumer
d. technologically
42. Explicit cost (bought in the market) and implicit cost (owned by the company and the owner)
Juan and Julia contributed $50,000 of their own money to the company
They bought equipment for $3,000
They hired an employee with a salary of $20,000
Juan quit his job where he earned $30,000
Julia quit part of her job where she earned $15,000
· Purchases of materials for the business were $10,000
· At the end of the year the value of the equipment is $28,000
· A business loan of $100,000 pays 6% annual interest
Based on the above data, what value is recognized as economic depreciation?
_____________.
43. An organization that has a large sales force will most likely organize its product with ________________________.
a. Threat of unemployment if quotas are not met
b. a market system
c. an incentive system
d. A command or command system
44. In perfect competition there are ___________________________.
a. Many companies and each one sells an identical product
b. A small number of companies, each selling an identical product
c. Many companies that sell products for which there are no complementary goods
d. Many companies selling similar products with slightly different
45. Owners of ______________ have limited liability.
a. partnerships, estates, and corporations or companies
b. corporations or limited companies
c. properties and companies
d. partnerships and corporations or joint-stock companies
46. Economies of scale exist when the ___________________ of a unit of a good ____________________.
a. Price; increases when its production rate increases
b. Cost; increases when your input rate increases
c. Price; falls when your input rate decreases
d. Cost; decreases when its production rate increases
Answers
Elena is the owner of a company that manufactures raincoats. Elena currently produces 25 raincoats a day. Elena cannot produce more raincoats per day unless she buys another sewing machine. Elena is efficient technologically. Elena is technologically efficient if she is not wasteful in her use of resources and if she does not waste time, materials, or other resources while manufacturing raincoats.
Economic depreciation is the decrease in value of an asset over time. In this case, equipment was bought for $3,000 and at the end of the year, the value of the equipment is $28,000. The economic depreciation of the asset will be $3,000 – $28,000 = $25,000.43.
An organization that has a large sales force will most likely organize its product with an incentive system. An incentive system is a motivational technique that allows people to perform certain activities by providing them with incentives. This type of organization is ideal for companies with large sales forces since it rewards employees for performing well.
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QUESTION 6 of 10: A response to an employee's idea:
a) Is always provided in written form
b) Is only provided with a management sponsor
c) May require testing the idea before being accepted
Answers
A reply to a suggestion made by a worker. Before being approved, the concept might need to be tested.
Which word should I use: workers or employees'?Add a apostrophe and a s to show that singular nouns are in possession. Add simply an apostrophe to show possession when using plural verbs ending in s, as in four employee paychecks with two boss suggestions.
Can we say "workers"?“Employees'.” The singular possessive word "employee's" denotes something that only one employee possesses. If there are several employees, they are referred to as "employees," and everything that numerous employees own is referred to using the possessive pronoun form "employees'."
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Which type of investment income happens when a company
shares its profits with investors?
Answers
Answer:
B is the answer
Explanation:
i just did the quiz
Mila invested $1,800 in a one-year CD earning 3.1% annual interest. How much interest will Mila earn?
Answers
Answer:
the interest mila earned for one year is $55.80.
I apologize if this is wrong I'm not super good with business
1 point
10. In reviewing your account statement, you see a Balance Transfer Fee.
Based on the information you see in the statement, what would be the fee
if you transferred $3,000 from another credit card? *
Answers
Answer:
Find attached statement and the question which question number 10.
The correct option is C,$90
Explanation:
In the statement you would notice that the balance transfer from another credit card was $785,upon which balance transfer levy of $23.55 was charged(Section 7)
Intuitively, the percentage of balance transfer charge is $23.55 divided by the amount of balance transfer i.e $785
balance transfer charge(%)=$23.55/$785=3%
However, if the balance transfer were $3000,the charge is 3% of $3000 i.e $90 ($3000*3%).
The correct option then is C,$90
Do BLACK LIVES MATTER??????!!!!!!!!!!
Answers
Answer:
OF COURSE THEY DO Y DONT PPL SAY ALL LIVES MATTER
Answer: YES .
Explanation: