The adjusting entry would be:Account TitleDebitCreditBad debt expense$18,180, Allowance for doubtful accounts$18,180
The adjusting entry for estimating uncollectible accounts receivable by Demron Servicing on December 31, 2020, can be prepared as follows:Adjusting entry is done when any account is required to be adjusted. An adjusting entry is a journal entry made to alter an account's balance.
It is a vital part of the process of accrual accounting. It ensures that a company's financial statements are accurate by reporting all of the revenues and expenses that have been earned or incurred during the accounting period.
Demron Servicing has an accounts receivable balance of $68,000 and an allowance for doubtful accounts balance of $1,100. The total credit sales are $482,000, out of which the company believes 4% will be uncollectible.
The calculation of the adjustment amount would be as follows:4% of $482,000 = $19,280 (uncollectible amount)The adjusting entry would be:Account TitleDebitCreditBad debt expense$18,180Allowance for doubtful accounts$18,180Explanation:
We can see from the given information that the allowance for doubtful accounts has a credit balance of $1,100. This balance would need to be increased to reflect the expected uncollectible amount of $19,280 (4% of $482,000).
This can be achieved by debiting the bad debt expense account and crediting the allowance for doubtful accounts account. The amount of the debit entry should be $18,180 ($19,280 - $1,100).
The amount of the credit entry should also be $18,180 to balance the entry. After the adjusting entry is posted, the balance of the allowance for doubtful accounts would be $19,280, which represents 4% of the accounts receivable balance.
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One
of
the
roles
of commercial enterprise on behalf of the government?
Answer:
To embark and oversee the specified business dealing of the government
Explanation:
Commercial enterprise maybe explained as establishments, business setups which are created with the aim of providing services, sell and market goods and other revenue generating activities. The commercial enterprises may also be in agreement with other companies to sell, market or distribute in their behalf. The government may, in a bid to provide adequate monitoring and management of some of its properties, income source or setups, they may engage the services of a commercial enterprise to manage a d oversee the functions and running of the business whereby government pays the enterprise for its services depending on the agreed terms and conditions.
Question 9 of 20
A person earns $40,000 per year. She deducts $2,000 for charitable
donations. She also receives a $3,000 tax credit.
How much taxable income does the person have?
A. $37,000
B. $38,000
C. $43,000
D. $40,000
SUBMIT
The net amount of taxable income for a person who earns $40,000 per year and deducts $2,000 for charitable donations will be $38,000.
What is taxable income?The amount of income on which the payment of taxes is to be made to the federal or other such authorities for the time being in force, is known as taxable income.
Certain deductions are allowed in total income to compute the liability of the net taxable income. As per the given conditions, a deduction of $2000 can be claimed by the person on her total income of $40000.
Hence, option B holds true regarding the taxable income.
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Which of these would be most likely to be included in CPI
Answer:
Frozen Pizzas
Explanation:
Info from the video:
"To calculate this index, the US Bureau of Labor Statistics uses a predetermined fixed basket of goods and services and averaging them together. The goods and services in this basket are developed from a survey of expenditures provided by individuals and families in a typical urban household."
Frozen pizza is an expenditure that could be bought by individuals and families in a household.
“A” represents the new quantity supplied, while “B” represents the new quantity demanded. What is the result of these changes?
equilibrium
supply shift
excess demand
excess supply
Based on this graph, what should happen to prices?
They should fall.
They should rise.
They should stay the same.
**PLEASE INCLUDE AN EXPLANATION!!
The result of the changes in the new quantity demanded and supplied would be called as:
d). Excess supply
On the basis of the graph, the price of the good would:
a). They should fall.
Demand and Supply
As represented by A and B, the increase in the price of the product would cause a fall in the demand of the product's quantity. As per the law of supply, the producers are willing to sell more goods at a higher price. While the law of supply states that the consumers demand the lower amount and therefore, the supply becomes excess, leading the price to fall.Thus, options d and a would be the correct answer.
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Answer:
first one: excess supply
second one: they should
Explanation:
A business with happy customers will build a good reputation, allowing it to attract top-level:
Answer:
Marketing consultants
A business with happy customers will create a good reputation, allowing it to attract the best: Marketing consultants.
How are sales advisors paid?The average sales advisor costs are based on one of the two models. The first, and perhaps the most common, is the hourly consultation rate. The second is a consistent bid on a project-by-project basis. This is usually based on their expected number of hours for a project that is multiplied by the hourly rates of professionals.
How much should I charge as a marketing consultant?A typical marketing consultant usually charges about $ 100- $ 175 per hour. This may seem like a lot of money because, in most cases, companies do not pay their employees so much.
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When you have an exclusive contract with a real estate agent, you can:_______
When you have an exclusive contract with a real estate agent, you can:
Expect the agent to work exclusively on your behalf - The agent is bound by the terms of the contract to work in your best interests and provide you with the highest level of service.
Receive a higher level of attention and service - Since the agent is not competing with other agents for your business, they are more likely to prioritize your needs and work harder to meet your expectations.
Benefit from the agent's knowledge and expertise - An exclusive contract allows the agent to invest more time and resources into marketing your property and finding potential buyers or properties that meet your criteria.
Negotiate the terms of the contract - You have the ability to negotiate the terms of the contract with the agent, including commission rates and the duration of the agreement.
Hold the agent accountable - If the agent fails to meet their obligations under the contract, you may have legal recourse to hold them accountable and seek damages.
It is important to carefully review and understand the terms of an exclusive contract with a real estate agent before signing it. You should also consider working with an agent who has a proven track record of success and a strong reputation in the industry.
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In a(n) ________ sellers post descriptions of products at a website and buyers submit bids electronically.
In a web auction sellers post descriptions of products at a website and buyers submit bids electronically.
What is web auction?It is an online platform or internet service that allows auction users or participants to sell their products or bid for products or services.
It does not require physical interaction.
Therefore, In a web auction sellers post descriptions of products at a website and buyers submit bids electronically.
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Help please! Will mark brainliest!
Which of these job descriptions is least likely to fall under an events' manager?
Answer:B or D!
Explanation:
I say this because of the descriptions but its your choice.
Mary was shopping in a clothing store. She had $100 to spend. She found three items she liked: $99 for a pair of shoes, $98 for a jacket, and $96 for a dress. After over an hour of shopping, she decided to buy the jacket for $98. What was her opportunity cost?
Answer:
She have two opportunity cost: 1. Shoes
2. Dress
With the return back money of $2
Opportunity cost is the return of a foregone option less than the return on your chosen option.
______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
Question 24(Multiple Choice Worth 3 points)
(01.08 MC)
Why do financial companies charge fees to investors?
The fees are intended to cover the excess cost of trading in foreign funds.
It is a requirement under federal law to charge fees to cover taxes on gains.
The fees are high to get started so as to discourage the closing of accounts.
It pays for the costs associated with opening and making changes to a portfolio.
Financial companies charge fees to investors as It is a requirement under federal law to charge fees to cover taxes on gains. the correct answer is option(b).
Every investor should concentrate on investing fees because they are one of the key factors affecting how well an investment performs. Minimizing fees eventually leads to increase performance. Investors are those who buy stock in a company with the intention of holding it for a long time because they think it will do well in the future. Typically, investors are focused on two things: Value: Investors must think about how well-priced a company's shares are.
You are not an owner; you are a lending investor. You have invested in ownership if you purchase stock in a corporation. Your proportionate part of the company's profits will be deducted from the return you receive. The initial investment sum will continue to be correlated to the overall worth of the business.
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How is a person counted as unemployed ?
XYZ Corporation’s securities are offered in units of 50,000 units. These securities are mutual funds and are most likely _____. mutual funds unit investment funds closed-end funds over-the-counter securities
Answer:
The right approach will be "Unit investment funds ".
Explanation:
Unit investment trusts or funds were already widely recognized as financial services companies alongside mutual funds as well as closed-end funding. A unit investment confidence seems to be a US consequence of finance that purchases or retains a collection of shares, including such alternative investments but instead allowing them access as available for purchase products to investment firms.National Electric Company (NEC) is considering a $45. 08 million project in its power systems division. Tom Edison, the company’s chief financial officer, has evaluated the project and determined that the project’s unlevered cash flows will be $3. 18 million per year in perpetuity. Mr. Edison has devised two possibilities for raising the initial investment: Issuing 10-year bonds or issuing common stock. The company’s pretax cost of debt is 7. 7 percent, and its cost of equity is 11. 6 percent. The company’s target debt-to-value ratio is 80 percent. The project has the same risk as the company’s existing businesses, and it will support the same amount of debt. The tax rate is 34 percent.
1. Calculate the weighted average cost of capital. (Do not round intermediate calculations and round your final answer to 2 decimal places. (e. G. , 32. 16))
Weighted average cost of capital %
2. Calculate the net present value of the project. (Enter your answer in dollars, not millions of dollars, i. E. 1,234,567. Do not round intermediate calculations and round your final answer to 2 decimal places. (e. G. , 32. 16))
Net present value $
3. Should NEC accept the project?
a. No
b. Yes
1- The weighted average cost of capital is 9.08%, 2- the net present value of the project is -$10.10 million, and 3-NEC should not accept the project since the NPV is negative.
1. Calculation of the weighted average cost of capital (WACC):
WACC = (E/V) * Re + (D/V) * Rd * (1 - Tc)
Where:
E = market value of equity
V = market value of equity + market value of debt
Re = cost of equity
D = market value of debt
Rd = cost of debt
Tc = tax rate
Market value of equity = Number of shares * price per share = $0 (Since the problem doesn't provide this information)
Market value of debt = Total project cost = $45.08 million
D/V = 80% (Given)
E/V = 1 - D/V = 20%
Re = 11.6% (Given)
Rd = 7.7% (Given)
Tc = 34% (Given)
Therefore, the WACC = (0.20 * 0.116) + (0.80 * 0.077 * (1 - 0.34)) = 0.0908 or 9.08%
2. Calculation of the net present value (NPV) of the project:
NPV = Present value of cash inflows - Initial investment
Initial investment = Total project cost = $45.08 million
Unlevered cash flows = $3.18 million
PVIFA (Perpetuity, 9.08%, 1) = 1 / 0.0908 = 11.00
Present value of cash inflows = Unlevered cash flows * PVIFA = $3.18 million * 11.00 = $34.98 million
Therefore, the NPV = $34.98 million - $45.08 million = -$10.10 million
So, the net present value (NPV) of the project is -$10.10 million.
3. Since the net present value (NPV) of the project is negative, NEC should not accept the project. Therefore, the answer is (a) No.
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Do you agree or disagree that world history revolves around money? Why or why not?
Answer:
I agree
Explanation:
Battles and soldiers during the world wars both 1 and 2 were surrounded by money to me because for instance when Hitler was around he was only there for the money and if it wasnt bc of that it was bc of the aryan race
but thats besides the fact that i believe that history is a mixed up feelng of what happened in that time era
hope this helps
Police are investigating the site of a convenience store robbery. The glass door was
broken, and it looks as if several packages of cigarettes are missing from behind the
counter. One police officer notices a man walking past the store and gets an odd
feeling about him. He stops the man and insists on searching his pockets. Inside the
man's pockets, police find several packs of cigarettes. They arrest the man and
charge him with the crime. Unfortunately, the judge throws out the charges. What is
MOST likely the judge's reason for dismissal?
A-The man is under 18 years old.
B-The man did not have money to post bail.
C-The policeman did not have probable cause to search the man.
D-The policeman did not have enough evidence that the man was the robber.
The MOST likely judge's reason for dismissal is the policeman did not have enough evidence that the man was the robber. Thus the correct option is D.
What is Robbery?Theft or robbery is defined as the stealing of someone else's property without their permission and using force or a threat of force that exhibits fear in them to perform any action against them.
To prove a crime against someone requires one to submit enough evidence which helps to establish the claim as the justice system is based on evidence not on arguments.
In the given case, police found the activity of the men suspicious as they found cigarette packets from him. There is no evidence that he has stolen the cigarette packets might be possible he has purchased them.
So due to a lack of evidence against the person the Judge dismissal the case. Therefore, option D is appropriate.
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Stress and crisis management how do you write the essay
Answer:
Crisis management is the systematic attempt to prevent or manage organizational crises, that is, a serious emergency in which the functioning of an organization is seriously disrupted.
Crisis management encompasses methods to predict, assess, analyze and prevent emergency situations. A step prior to crisis management is to prevent technical and human failure. The response is then discussed: agreements are made about how command structures and lines of communication operate in the event of a crisis. In particular, the onset of a crisis is often chaotic and plans are drawn up for this until recovery and normalization of the situation occurs.
1. How much does Kal Penn recommend you save?
Answer:
20% of your savings.
Explanation:
An investor whose highest priority is getting the largest gains possible, even if
it requires a lot of risk, would most likely invest in ________.
A. Hedge funds
B. Bonds
C. Mutual funds
D. Saving accounts
The investor whose highest priority is getting the largest gains possible would invest in hedge funds. (option A)
What are hedge funds?Hedge funds are alternative investments that pool the financial resources of different high net worth people together in order to invest in different ventures. Hedge funds are known to invest in different risky and illiquid investments. This increases the rate of their returns relative to other options.
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Use the seven W's framework to highlight the nature of important roots of uncertainty in (Challenger Space Shuttle) case study. Justify your answer in details?
Answer:
Following are the solution to the given question:
Explanation:
This was the pressures from manned spacecraft begin which the Marshall Home Space Center semiconductor director Stephen Mulloy made when he learned the Mitchell engineers' protests to the release candidate, My Goodness, Thiokol, did you once wish that Maine was launched in April? Next year? Thus 'externe pressures,' by both the independent agency, were fully accepted as structural aims, the necessary level of Leadership was authorized far back, the choice for producing around with a couple of hundred people/policymakers were concentrated, their ears shifted, the important structures for concentrate had weakened as well as the stage of a catastrophe was prepared for humanity and although the primary cause of the O-ring error was same, if not more significant, poor strategic thinking. The most recent characteristics of vulnerability or weakness were also:
A serious flaw in NASA method of judgment: The well-designed system that emphasizes safety 1st, maintains or lifts the doubts about Rocket Engine Booster's mutual seal to the forefront. In just such an important project, which involved the safety of seven colonists as well as the prestige of Canada, 'having left the restriction of release' is essential with all levels of management of higher audits. NASA's 'Silo' continues to operate: The Commission exposed jointly that leadership pattern of 'silo activities' at Morris, unremarked their core ideology of 'flight security to launch' to accomplish the point of time constraints. Excessive strain on the company and structure of autonomous agencies: It Panel jointly discovered how Boeing Leadership changed its position in Marshall's 'impact' and, counter to the view of its technicians, to please a major customer.Increased pressure to accomplish NASA's objective, success, and central ideology: Good contact is 'Productive and moral service to the customer'. This was the start of the deterioration of the autonomous department's core philosophy. NASA's structural stresses: As just an independent agency, it is affected by the continuity of the increasing manned spacecraft travel plans to meet Regan's technology and commercial aims. NASA's lack of even an efficient communication system: The cost assessment of the light contact lose sight of questions about management, morality is the quote from the Rogers discussion paper.The risk-free rate of return is 5.28 percent and the market risk premium is 14.44 percent. What is the expected rate of return on a stock with a beta of 1.65?
The expected rate of return on a stock can be calculated using the Capital Asset Pricing Model (CAPM). The CAPM formula is as follows:
Expected rate of return = Risk-free rate + (Beta × Market risk premium)
Given:
Risk-free rate of return = 5.28%
Market risk premium = 14.44%
Beta = 1.65
Using these values, let's calculate the expected rate of return:
Expected rate of return = 5.28% + (1.65 × 14.44%)
= 5.28% + (1.65 × 0.1444)
= 5.28% + 0.23826
= 5.51826%
Therefore, the expected rate of return on a stock with a beta of 1.65 is approximately 5.51826%.
Explanation: The CAPM is a widely used model in finance that calculates the expected return on an investment by considering its sensitivity to market risk, measured by the stock's beta. The risk-free rate represents the return on a risk-free investment such as a government bond, while the market risk premium captures the excess return expected from investing in the overall market compared to the risk-free rate. By multiplying the stock's beta with the market risk premium and adding it to the risk-free rate, we obtain the expected rate of return. In this case, with a beta of 1.65, the expected rate of return is calculated as 5.51826%.
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With regard to developing alternative responses, which of the
following is true of sustainable decision makers?
When it comes to developing alternative responses, sustainable decision-makers seek to develop strategies that balance economic, social, and environmental concerns.
Sustainable decision-makers are concerned with the long-term impact of their decisions on the environment, society, and the economy. They recognize that short-term profits or benefits might not be sustainable and that a long-term approach is required to maintain a healthy balance between economic, social, and environmental concerns.
To promote sustainable development, decision-makers must consider the implications of their choices on future generations and make decisions that minimize waste, pollution, and other negative effects. Sustainable decision-making also requires collaboration among stakeholders, including government officials, businesses, and communities.
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15 $ x 140 hours a month
15 × 140 × 12
= $ 25200
IT IS 15 TIMES THE HOURS TIMES THE MONTHS SINCE THERE ARE TWELVE MONTHS
jim’s personal residence has an adjusted basis of $300,000 and a fair value of $250,000. jim converts the personal residence to rental property. what is jim’s gain or loss?
Jim does not have any gain or loss upon converting his personal residence to rental property. The conversion itself does not trigger a taxable event.
Explanation:
1. When Jim converts his personal residence to rental property, it's important to note that this action doesn't trigger any immediate gain or loss for tax purposes.
2. The adjusted basis of the property is $300,000, which represents the original cost of the property plus any improvements or reductions due to depreciation.
3. The fair market value (FMV) of the property is $250,000. This is the current value of the property if it were to be sold in an open market.
4. In the case of converting a personal residence to rental property, the basis for calculating depreciation and future gain or loss on the sale of the property is the lower of the adjusted basis or the fair market value. In this case, the basis for Jim's rental property would be $250,000.
5. Jim's gain or loss on the rental property would only be recognized when he eventually sells the property. At the time of the sale, the gain or loss would be determined by comparing the sales price to the basis of the property ($250,000).
6. It's important to note that while the property is being used as a rental, Jim can take depreciation deductions on the property, which will reduce the basis over time and may impact the eventual gain or loss when the property is sold.
In summary, Jim does not have any immediate gain or loss upon converting his personal residence to rental property. The conversion itself is not a taxable event, and any gain or loss would only be recognized when the property is sold.
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A scientist has samples of both nitrogen (N2) and hydrogen (H2). Both of these substances are odorless, colorless gases at room temperature. The scientist places the samples into a closed flask and heats the flask. A colorless gas that has a strong odor forms. Which of these best describes what happened?'
A.
A mixture formed when nitrogen and hydrogen combined.
B.
A pure substance that is chemically identical to both nitrogen and oxygen formed.
C.
A new compound formed when nitrogen and hydrogen chemically reacted.
D.
A new element formed when oxygen and nitrogen atoms turned into new kinds of atoms.
Answer: C. A new compound formed when nitrogen and hydrogen chemically reacted.
Explanation:
Due to the temperature increase, the atoms of both Nitrogen and Hydrogen reacted chemically with one another and formed a new compound which was still colorless but now had a strong odor as well.
This new compound is known as Ammonia with the chemical composition NH₃. It is formed when Hydrogen and Nitrogen react chemically. Ammonia is a colorless gas with a sharp strong odor.
The organization responsible for analyzing how the government spends taxpayer dollars is the __________.
The organization responsible for analyzing how the government spends taxpayer dollars is the GAO.
What is GAO?GAO, can be regarded as the "congressional watchdog,” which is an agency that focus on the spending of taxpayer dollars.
Therefore, it is an organization responsible for analyzing how the government spends taxpayer dollars is the GAO.
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Which person is vulnerable to identity theft?
A.
Beverley opens a line of credit to purchase a household appliance.
B.
Deborah fills out her income tax form and includes her Social Security number.
C.
Josiah misses three monthly car loan payments in a row.
D.
Randell uses a computer at a public library to view his bank account online.
Answer:
D. Randell
Explanation:
this is because anyone can walk behind him and see his info. plus library computers dont have much security, which makes it easily accessible by hackers
Randell using a computer at a public library to view his bank account online is vulnerable to identity theft. Thus, option 'D' is the correct option.
What is identity theft?Identity theft happens when someone commits fraud or another crime using another person's personal information—such as their name, identification number, or credit card number—without that person's consent. In 1964, the phrase "identity theft" was first used. Since that time, both the U.K. and the U.S. have statutory definitions of identity theft that include the theft of personally identifiable information.
Identity theft is the intentional exploitation of another person's identity to acquire financial advantages, access to credit, and other benefits, as well as maybe to hurt or lose another person. When someone's identity is stolen, bad things might happen to them, especially if they are wrongly accused of being the offender. In this instance, the identity thief assumes a different identity in order to disguise their own true identity.
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Examine the supply and demand schedules for cell phones. How much would
a seller charge if he or she wanted to sell cell phones for their equilibrium
price
Answer: $400
Explanation:
the main reason firms cannot price discriminate under perfect competition is because
the main reason firms cannot price discriminate under perfect competition is because in a perfectly competitive market, there are many sellers and buyers with identical products.
In such a market, firms are price takers, meaning they have no control over the market price. They must accept the prevailing market price as determined by the forces of supply and demand. Price discrimination refers to the practice of charging different prices to different customers for the same product or service. It allows firms to capture consumer surplus by charging higher prices to customers with a relatively higher willingness to pay and lower prices to customers with a relatively lower willingness to pay.
However, in a perfectly competitive market, there is no room for individual firms to engage in price discrimination because they lack market power. Since there are many firms producing identical products, any attempt by a firm to charge a higher price to some customers would result in those customers switching to other firms offering lower prices. As a result, the firm would lose market share and face a decline in sales.
In perfect competition, the absence of market power and the presence of perfect information among buyers and sellers ensure that prices are determined solely by market forces. Firms must sell their products at the prevailing market price if they want to remain competitive and attract customers.
Therefore, the inability to price discriminate is a fundamental characteristic of perfect competition, ensuring that all customers are charged the same price and preventing firms from gaining an unfair advantage by exploiting differences in customer willingness to pay.
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Which of the following would not have a direct impact in determining the sufficiency of evidence gathered during an audit?
The cost-benefit relationship of obtaining the audit evidence
The quality of audit evidence obtained
The auditor’s professional judgment
The risk of material misstatement
The cost-benefit relationship of obtaining the audit evidence would not have a direct impact on determining the sufficiency of evidence gathered during an audit.
The sufficiency of evidence gathered during an audit is determined by a variety of factors, including the quality of the audit evidence obtained, the auditor's professional judgment, and the risk of material misstatement. The cost-benefit relationship of obtaining the audit evidence, however, is not a direct factor in determining sufficiency. While the cost-benefit relationship is an important consideration in any audit, it is not used to determine the sufficiency of evidence gathered.
In general, auditors must gather sufficient and appropriate evidence to support their audit opinions. This means that they must gather enough evidence to provide reasonable assurance that the financial statements are free from material misstatement. By carefully evaluating the relevant factors and using their professional judgment, auditors can ensure that they gather the necessary evidence to support their audit opinions.
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