You have just been hired as a new management trainee by Earrings Unlimited, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past, the company has done very little in the way of budgeting and at certain times of the year has experienced a shortage of cash. Since you are well trained in budgeting, you have decided to prepare a master budget for the upcoming second quarter. To this end, you have worked with accounting and other areas to gather the information assembled below.
The company sells many styles of earrings, but all are sold for the same price- $13 per pair. Actual sales of earrings for the last three months and budgeted sales for the next six months follow (in pairs of earrings):
January (actual)... 20,800 June (budget)... 50,800
February (actual)... 26,800 July (budget)... 30,800
March (actual)... 40,800 August (budget ... 28,800
April (budget)... 65,800 September (budget) 25,800
May (budget)... 100,800
The concentration of sales before and during May is due to Mother's Day. Sufficient inventory should be on hand at the end of each month to supply 40% of the earrings sold in the following month.
Suppliers are paid $7 for a pair of earrings. One-half of a month's purchases are paid for in the month of purchase; the other half is paid for in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's sales are collected in the month of sale. An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible.
Monthly operating expenses for the company are given below:
Variable:
Sales commissions..................6% of sales
Fixed:
Advertising.....................$199,200
Rent................................17,200
Salaries........................105,200
Utilities.........................6,200
Insurance......................2,200
depreciation.................13,200
Insurance is paid on an annual basis, in November of each year.
The company plans to purchase $15,400 in new equipment during May and $39,200 in new equipment during June; both purchases will be for cash. The company declares dividends of $11,000 each quarter, payable in the first month of the following quarter.
A listing of the company's ledger accounts as of March 31 is given below:
Assets
Cash.............................................................................$ 130,400
Accounts Receivable($34,840 February sales; $424,320
March Sales)................................. 459,1600
Inventory...................................................................... 184,240
Prepaid insurance......................................................... 21,800
Property and equipment(net)....................................... 861,200
Total Assets................................................................. $1,656,800
Liabilities and Stockholders Equity
Accounts Payable......................................................... $177,800
Dividends Payable......................................................... 11,000
Capital stock................................................................. 880,000
Retained Earnings......................................................... 588,000
Total liabilities and stockholders equity $1,656,800
The company maintains a minimum cash balance of $55,000. All borrowing is done at the beginning of a month; any repayments are made at the end of a month.
The company has an agreement with a bank that allows the company to borrow in increments of $1,000 at the beginning of each month. The interest rate on these loans is 1% per month and for simplicity we will assume that interest is not compounded. At the end of the quarter, the company would pay the bank all of the accumulated interest on the loan and as much of the loan as possible (in increments of $1,000), while still retaining at least $55,000 in cash.
Required
Prepare a master budget for the three-month period ending June 30. Include the following detailed budgets:
a. A sales budget, by month and in total
b. A schedule of expected cash collections from sales, by month and in total.
c. A merchandise purchases budget in units and in dollars. Show the budget by month and in total.
d. A schedule of expected cash disbursements for merchandise purchases, by month and in total.
2. A cash budget. Show the budget by month and in total.
Answers
Answer:
Earrings Unlimited1a. Sales Budget
April May June Total
Credit Sales in unit 65,800 100,800 50,800 217,400
Selling Price $13 $13 $13 $13
Sales Value $855,400 $1,310,400 $660,400 $2,826,200
April May June Total
Sales Commission 6% $51,324 $78,624 $39,624 $169,572
1b. Expected Cash Collections:
April May June Total
20% month of sale $171,080 $262,080 $132,080 $565,240
70% following month 371,280 598,780 917,280 1,887,340
10% second month 34,840 53,040 85,540 173,420
Total $577,200 $913,900$1,134,900$2,626,000
1c. Merchandise Purchase Budget
April May June Total
Ending Inventory 40,320 20,320 12,320 12,320
Units Sold 65,800 100,800 50,800 217,400
Units available 106,120 121,120 63,120 229,720
Beginning Inventory 26,320 40,320 20,320 26,320
Purchases (units) 79,800 80,800 42,800 203,400
Beginning Inventory $184,240 $282,240 $142,240 $184,240
Purchase ($) $558,600 $565,600 $299,600 $1,423,800
Cost (goods available)$742,840 $847,840 $441,840 $1,608,040
Less Ending Inventory$282,240 $142,240 $86,240 $86,240
Cost of goods sold $460,600$705,600 $355,600 $1,521,800
1d. Expected Cash Disbursements for Merchandise Purchases:
April May June Total
Purchase ($) $558,600 $565,600 $299,600
50% 1st month $279,300 $282,800 $149,800 $711,900
50% 2nd month $177,870 $279,300 $282,800 $739,970
Total Disbursements$457,170 $562,100 $432,600 $1,451,870
2d. Cash Budget
April May June Total
Beginning Balance $130,400 $55,306 $55,282 $130,400
Cash Collections $577,200 $913,900 $1,134,900 $2,626,000
Cash Disbursements:
Merchandise ($457,170) ($562,100) ($432,600) ($1,451,870)
Sales Commission ($51,324) ($78,624) ($39,624) ($169,572)
Other fixed costs($327,800) ($327,800) ($327,800) ($983,400)*
Equipment purchase ($15,400) ($39,200) ($54,600)
Dividends paid ($11,000) ($11,000)
Bank Loan $195,000 $70,000 ($265,000) $0
Loan Interest ($2,650) ($2,650)
Minimum balance $55,306 $55,282 $83,308 $83,308
Earrings Unlimited INCOME STATEMENT for the quarter to June 30:
Sales $2,826,200
Cost of goods sold 1,521,800
Gross Profit $1,304,400
Less: Expenses:
Sales Commission 169,572
Other fixed costs 983,400
Insurance Expenses 6,600
Bank Loan Interest 2,650
Depreciation 39,600 $1,201,822
Net Income $102,578
Retained Earnings b/f $588,000
Dividends ($11,000)
Retained Earnings c/f $679,578
Earrings Unlimited BALANCE SHEET as of June 30:
Assets:
Current Assets:
Cash $83,308
Accounts Receivable $659,360
Inventory $86,240
Prepaid Insurance $15,200 $844,108
Noncurrent Assets:
Property & Equipment $915,800
Depreciation $39,600 $876,200
Total Assets $1,720,308
Liabilities + Equity:
Liabilities:
Accounts Payable $149,730
Dividends Payable $11,000 $160,730
Capital Stock $880,000
Retained Earnings $679,578 $1,559,578
Total Liabilities + Equity $1,720,308
Explanation:
a) March Purchases:
Ending Inventory in units = 26,320(65,800 x 40%)
Units sold = 40,820
Units available for sale = 67,140 (26,320 + 40,820)
Less Beginning Inventory = 16,320 (40,800 x 40%)
Purchases = 50,820 units
Beginning Inventory = $114,240 (40,800 x $7 x 40%)
Purchases = $355,740 (50,820 x $7)
Cost of goods available $469,980
Less Closing Inventory 184,240 (26,320 x $7)
Cost of goods sold $285,740
b) Accounts Receivable
Beginning Balance $459,160
Sales $2,826,200
Cash Receipts ($2,626,000)
Ending Balance $659,360
c) Accounts Payable
Beginning Balance $177,800
Purchases $1,423,800
Cash Disbursements ($1,451,870)
Ending Balance $149,730
d) Sales Budget January February March
Credit sales in unit 20,800 26,800 40,800
Selling price $13 $13 $13
Sales Value $270,400 $348,400 $530,400
e) A master budget combines other smaller budgets within the business and turns them into one overall budget, which gives a comprehensive overview of the entity's finances. The master budget includes the HR, marketing, and all other departmental budgets to produce an overall single budget.
Related Questions
A textile company produces shirts and pants. Each shirt requires two square yards of cloth, and each pair of pants requires three square yards of cloth. During the next two months the following demands for shirts and pants must be met (on time): month 1, 1000 shirts and 1500 pairs of pants; month 2, 1200 shirts and 1400 pairs of pants. During each month the following resources are available: month 1, 9000 square yards of cloth; month 2, 6000 square yards of cloth. In addition, cloth that is available during month 1 and is not used can be used during month 2. During each month it costs $8 to produce an article of clothing with regular-time labor and $16 with overtime labor. During each month a total of at most 2500 articles of clothing can be produced with regular-time labor, and an unlimited number of articles of clothing can be produced with overtime labor. At the end of each month, a holding cost of $3 per article of clothing is incurred.
Determine how to meet demands for the next two months (on time) at minimum cost. Assume that 100 shirts and 200 pairs of pants are already in inventory at the beginning of month 1.
Answers
Solving a linear programming problem will provide the optimal production quantities for shirts and pants in both months, considering the available cloth, demand, and production constraints.
To determine the optimal production plan that minimizes costs while meeting the demand for shirts and pants in the next two months, we can use a linear programming approach. Let's set up the decision variables, constraints, and objective function for the given problem.
Decision Variables:
Let X1 represent the number of shirts produced in month 1.
Let X2 represent the number of pants produced in month 1.
Let X3 represent the number of shirts produced in month 2.
Let X4 represent the number of pants produced in month 2.
Objective Function:
Minimize the total cost, which includes production costs and holding costs:
Cost = 8(X1 + X2 + X3 + X4) + 3(100 + 200 + X1 + X2 + X3 + X4)
Constraints:
1. Cloth constraint for month 1:
2X1 + 3X2 ≤ 9000 (available cloth)
2. Cloth constraint for month 2:
2X3 + 3X4 + X1 + X2 - X3 - X4 ≤ 6000 + X1 + X2
3. Demand constraint for shirts in month 1:
X1 ≥ 1000
4. Demand constraint for pants in month 1:
X2 ≥ 1500
5. Demand constraint for shirts in month 2:
X3 ≥ 1200
6. Demand constraint for pants in month 2:
X4 ≥ 1400
7. Production capacity constraint for regular-time labor:
X1 + X2 + X3 + X4 ≤ 2500
The objective function will give us the minimum total cost of meeting the demands.
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Lyric has been asked to create an online career portfolio for her business class, but she doesn't know where to begin. What is the BEST advice Lyric's teacher can give her to help her successfully complete her assignment?
А. The links to your personal social media accounts must be listed.
В. Your top priority should be a cover letter and sample resume.
C. Avoid posting any photos of yourself or your previous experiences.
D. Include a video to introduce yourself and your interests and skills.
Answers
Pick C Because It's C So Yeah P8c C
Answer:
the answer is D
Explanation:
this is because showing a video of yourself introducing you skills and interests can be a good thing when you go look for a job and the boss see this in your portfolio
Why is it important to understand the amount of setup time required for each order?
Answers
Production capacity is limited because setup time cuts into available production time.
What is Setup Time Reduction?A method of minimizing the time required to switch a process from the final component for the outgoing product to the first functional component for the incoming product. The length of time it takes to finish a setup has an impact on manufacturing since it affects how adaptable a production process is determined.
Setup period, Setup time Reduction is the amount of time between the final successful run and the start of the succeeding run. Activities during setup time do not add value to the product value. Cutting down on setup time will increase a company's capacity, manufacturing flexibility, and overall output.
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Why float signed out at the beging of cashier shift and signed in the end of the shift
Answers
most likely to fraud the company by pocketing cash although most registers cant be used until an employee logs into it
9. Is it ever okay to argue or disagree with your boss? Why?
Answers
Yes, Is it ever okay to disagree with your boss in a case whereby the ethics of the organization is not followed.
What is ethics?As it investigates what is morally right or wrong, just or unjust, ethics looks at the intellectual justification for our moral judgements.
The study of ethics, often known as moral philosophy, "involves systematizing, defending, and endorsing conceptions of good and bad action," according to Wikipedia. Axiology is a subfield of philosophy that consists of the fields of ethics and aesthetics. These fields are concerned with issues of value.
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You plan to retire in 30 years and you are investing $250 per month in the BMO Large-Cap Growth mutual fund. The fund has an average annual return of 13.45%. How much will you have at retirement?
Answers
Accumulated Balance is given by :
\(A=P\dfrac{(1+i)^n-1}{i}\times (1+i)\)
Here,
n = time period = 30×12 = 360.
\(i=\dfrac{13.45}{100}\times \dfrac{1}{12}=0.0112\)
P = principal price = $250.
Putting all given values in above equation, we get :
\(A=250\times \dfrac{(1+0.0112)^{360}-1}{0.0112}\times (1+0.0112)\\\\A=\$1221659.48\)
Hence, this is the required solution.
Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
Answers
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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Why seating arrangement in any meeting is very important to organizers and participants? Explain in details.
Answers
The reason seating arrangement in any meeting is very important to organizers and participants is that it will place smaller groups around central points of interest.
What is seating arrangement in meeting?Smaller groups are frequently seated around focal points, such as conference tables, or attention-grabbing presentations are highlighted by seating arrangements during meetings. Boardroom seating is a common choice for conference rooms. Square Seating with Holes. U-shaped furniture.
They are frequently referred to as room settings, and when chosen properly, they expand a presenter's impact in the space, transmit intention, and remove distractions. They also include comfort, access, and safety for the attendees.
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The following refers classification of space except
a.
Personal space
b.
Ethical space
c.
Public space
d.
Intimate space
Answers
Classification of space except public space. People connect, meet, and interact in public spaces where they also express their shared rights to the city and find similar interests.Public space is essential to the idea of a livable and human environment in a city that values its residents.
The following refers classification of space except?
Personal space is the area that a person considers to be psychologically theirs.The majority of people value their personal space and dislike, become angry, or become anxious when in it.It invades people's personal space.allowing someone into your personal space and entering. Our personal space serves as a "protection" zone surrounding us and gives us a sense of security.Only those we permit entry into our personal area.We feel appreciated and cherished when others refrain from entering this zone. The goal of ethical space is to establish a setting where knowledge systems can interact while upholding fundamental moral norms and virtues like kindness and generosity.A framework called the ethical space of engagement looks at the differences and positions of Indigenous peoples and Western society.The Etuaptmumk - Two Eyed Seeing method, developed by Mi'kmaw Elder Albert Marshall, is the best example of how Western and Indigenous worldviews may coexistEvery system of knowledge is equal; no system is more significant or legitimate than another. According to the classification, intimate space falls into four categories: close physical contact up to 18 inches, personal space up to 4 feet, social space up to 12 feet, and public space above 12 feet.Personal space becomes communal space when a desk is placed between two persons. According to Ermine's analysis, ethical space has the power to change unequal social structures into respectful alliances between Indigenous and non-Indigenous peoples.To learn more about public space refer
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Blank and blank is another word for networking
Answers
design an approach that your team would recommend for Joseph and Nicholas to cover one area each that you deem necessary to aid in the planning and controlling functions
Answers
The combines strategic planning, performance measurement, effective communication, and continuous improvement to support Joseph and Nicholas in their planning and controlling functions. It ensures a well-defined direction, data-driven decision-making, collaboration, and a focus on growth and adaptability.
In order to aid in the planning and controlling functions, the following approach can be recommended to Joseph and Nicholas:
1. Establish Clear Objectives and Goals: The first step in planning is to establish clear objectives and goals for the team. It is important to have a clear understanding of what needs to be accomplished and what the team's priorities are.
2. Assign Responsibilities: Assigning specific responsibilities to team members helps to ensure that everyone is working towards a common goal. Joseph and Nicholas should each be assigned to cover one area that is necessary for planning and controlling functions. This will help to ensure that all aspects of the project are covered and that there is no overlap or duplication of efforts.
3. Develop a Schedule: Developing a schedule that outlines the key milestones and deadlines for the project is essential to effective planning and control. This will help to ensure that the project stays on track and that deadlines are met.
4. Monitor Progress: Regularly monitoring progress against the schedule and objectives is necessary to ensure that the project is progressing as planned. This will help to identify any issues or problems that arise and allow for corrective action to be taken.
5. Communicate: Effective communication is critical to the success of any project. Joseph and Nicholas should establish a regular communication schedule to ensure that everyone is up-to-date on the project's progress, any issues or problems that arise, and any changes to the schedule or objectives.
6. Make Adjustments: Finally, it is important to be flexible and make adjustments as needed. If the project is not progressing as planned, adjustments may be necessary to the schedule or objectives to ensure that the project stays on track and that goals are met.
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Which lender most likely offers the best options on a short-term loan?
a payday lender
b a mortgage lender
c a title lender
d a bank or credit union
Answers
Answer:
D a bank or credit union
Explanation:
Just took it
The lender most likely offers the best options on a short-term loan is a bank or credit union.
A short-term loan is a credit facility given to people or organisations to cover a cash shortage. Credit cards, bank overdrafts, trade credit, payday loans, etc. are some examples.
Depending on the form of debt, the loan tenure varies. While some loans have a term of 1-2 years, many have maturities of 6–12 months.
The interest rates, or annual percentage rates, are frequently set at high levels. Lenders try to make up for the lack of adequate earnings caused by short tenure by charging higher interest rates.
A short-term loan is a credit facility given to people or organisations to cover a cash shortage. Credit cards, bank overdrafts, trade credit, payday loans, etc. are some examples.
Depending on the form of debt, the loan tenure varies. While some loans have a term of 1-2 years, many have maturities of 6–12 months.
The interest rates, or annual percentage rates, are frequently set at high levels. Lenders try to make up for the lack of adequate earnings caused by short tenure by charging higher interest rates.
Since there is no tangible asset that may be sold to recoup the debt in the event of a default, most short-term loans are unsecured. As a result, applicants for loans with strong credit histories are prioritised.
Applicants with low credit scores frequently face considerable difficulty getting a short-term loan. They frequently receive loans with extremely high interest rates.
What is bank?A bank is a type of financial entity that lends money while both taking deposits from the general public and generating demand deposits. The bank may engage in lending activities directly or indirectly through the capital markets.
What is credit union?Since a credit union is truly organised as a cooperative, it is owned by its members. Members of credit unions are often those who have something in common, such as a profession, a place of residence, a religious affiliation, or membership in another group. Additionally, since they are nonprofits, credit unions are typically excluded from paying federal taxes. Some of them even get financial aid from the associations to which they are linked. As a result, credit unions are free from the pressure of turning a profit for shareholders.
The credit union's goal is to offer its members the most affordable terms for their financial goods. In comparison to bank customers, members typically receive lower lending rates, pay fewer (and lower) fees, and earn better APYs on savings products.
Supporting answer
Hence option D is correct answer
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The manager of a crew that installs carpeting has tracked the crew’s output over the past several
weeks, obtaining these figures:
Week Crew Size Yards Installed
1 4 96
2 3 72
3 4 92
4 2 50
5 3 69
6 2 52
Compute the labor productivity for each of the weeks. On the basis of your calculations, what can
you conclude about crew size and productivity?
Answers
Write a solution to each scenario
1. Julio,Liza, and Jon must prepare a report, but Jon hasn't done his share.
2. Regeena's boss likes her work but she 's always late in spite if being warned.
3. Lucie thinks her boss is being unfair because he gives her morw work than he gives her co-workers.
Answers
The solution that would have to be done in all of the situations that we have here would be:
The solution that would be done here is to find out why Jon has not done his then try to offer him assistance to get the job doneGiven that Regina is always late despite being warned, the boss has to find out the reason for her lateness and if she still continues, it may cause her to have a probation at work.Lucie would have to speak to her boss on the volume of work that she gets.How to deal with situations in the work placeIn the work place, it would be best if the people that are in a particular work environment are able to work in a way that they would avoid all forms of conflicts that may arise.
This would have to do with putting up all of the attitudes that has to do with coming early to work, showing respect and being eager to learn.
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Moral hazard can contribute to high bank leverage in all of the following ways EXCEPT:______
a. federal deposit insurance has reduced the incentive of depositors to monitor the behavior ofbank managers.
b. high bank leverage provides shareholders with a potential for a higher return on equity.
c. having high capital requirements.
d. bank managers are compensated in part on providing shareholders with high returns onequity.
Answers
Answer: C. having high capital requirements
Explanation:
Moral hazard is a situation that occurs when one party does not act in good faith and then engages in risky behavior because it knows that he or she won't bear the consequence of the behavior but the other party will.
Moral hazard can contribute to high bank leverage when federal deposit insurance has reduced the incentive of depositors to monitor the behavior ofbank managers.
It can also occur when high bank leverage provides shareholders with a potential for a higher return on equity and when bank managers are compensated in part on providing shareholders with high returns onequity.
Therefore, the correct option is C "having high capital requirements".
who has better abs 1 or 2?
Answers
Answer:
1
Explanation:
They just look more... real???
Answer:
Lm.ao what
Explanation:
Ig the second one lol
The average transaction at a single channel, single phase checkout stand can be completed in 5 minutes and customers arrive at the average rate of one every 4 minutes. On average, what is the server utilization? (Choose the closest answer.)
a. 0.25
b. 1.25
c. 0.63
d. 0.80
Answers
If the average transaction at a single channel, single phase checkout stand can be completed in 5 minutes and customers arrive at the average rate of one every 4 minutes then the server utilization is 0.8.
Are you paying for the transaction?A transaction is a contract made between a buyer and a seller. In a transaction, the seller offers products, services, or other financial assets in return for money in the form of currency. A business's ability to generate consistent income and manage cash flow depends on its ability to conduct financial transactions.
A cash transaction is what?A cash transaction is when you pay for something with cash right away. A few days may pass before the trade settles, yet some market stock transactions are still regarded as cash transactions. Futures contracts are not thought of as cash transactions.
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City Taxi Service purchased a new auto to use as a taxi on January 1, Year 1, for $23,700. In addition, City paid sales tax and title fees of $570 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $6,360. Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount.) b. Assume the auto was sold on January 1, Year 3, for $19,672. Determine the amount of gain or loss that would be recognized on the asset disposal. (Round the intermediate calculations to nearest whole dollar amount.)
Answers
Answer: See explanation
Explanation:
Note that the depreciable cost was calculated as $17910 and the depreciation per year was:
= $17910/5
= $3582
Also, the book value of the taxi was calculated as:
= Cost - Accumulated depreciation
= $24270 - ($3582 × 2)
= $24270 - $7164
= $17106
Check the attachment for further explanation.
100 POINTS PLEASE HELP Supply curves shift to the left when a product is more expensive to create. All of the following are examples of scenarios that would cause this EXCEPT:
A. higher materials cost
B. higher minimum wage for employees
C. higher demand from customers
Answers
Answer:C
Explanation:
on november 1, a company receives cash of $6,000 from a customer for services to be provided evenly over the next six months. deferred revenue is recorded at that time. which of the following adjusting entries is needed on december 31 (two months later)?
Answers
The correct answer is option B) Debit Deferred Revenue for $2,000; Credit Service Revenue for $2,000.
On November 1, 2021, when the company received the cash from the customer, it recorded the deferred revenue of $6,000.
Deferred revenue is an asset account that is recorded when a customer pays for goods or services in advance of their delivery, and the company is not yet able to recognize the revenue until the goods or services have been delivered.
On December 31, 2021, one month of the services have been provided and the company needs to record the revenue they earned from providing those services. The adjusting entry to record this is to debit the deferred revenue of $2,000 and credit the service revenue of $2,000.
This is done to adjust the deferred revenue to the amount that still remains unearned, and to recognize the revenue that was earned in the given month.
Complete Question:
On November 1, 2021, a company receives cash of $6,000 from a customer for services to be provided evenly over the next six months. Deferred revenue is recorded at that time. Which of the following adjusting entries is needed on December 31, 2021?
A) Debit Deferred Revenue for $2,000; Credit Cash for $2,000
B) Debit Deferred Revenue for $2,000; Credit Service Revenue for $2,000
C) Debit Deferred Revenue for $6,000; Credit Service Revenue for $6,000
D) Debit Service Revenue for $2,000; Credit Deferred Revenue for $4,000
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illustrate the effect that a decrease in a price of milk (an input of ice cream) would have on the market for ice cream.
Answers
A decrease in the price of milk would lead to a decrease in the production cost of ice cream and an increase in its supply, causing a decrease in the equilibrium price of ice cream and an increase in its quantity demanded and supplied.
A decrease in the price of milk is likely to have a direct effect on the market for ice cream. Milk is a key ingredient in the production of ice cream, and so a decrease in the price of milk would lead to a decrease in the production cost of ice cream. The impact of this decrease in production cost will result in an increase in the supply of ice cream. The supply curve will shift to the right, showing that more ice cream is available for sale at any given price.
This means that the equilibrium price of ice cream will decrease because suppliers are willing to sell more ice cream at lower prices due to lower production costs. As a result, consumers would demand more ice cream because they would be able to purchase it at a lower price. This increase in demand would cause the demand curve to shift to the right, further increasing the equilibrium quantity of ice cream traded in the market.
Therefore, a decrease in the price of milk would lead to a decrease in the production cost of ice cream and an increase in its supply, causing a decrease in the equilibrium price of ice cream and an increase in its quantity demanded and supplied.
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What is the difference between a 3.5 fold and an 8 fold essay?
Answers
A 3.5 fold essay consists of an introduction, three body paragraphs, and a conclusion, while an 8 fold essay expands on the 3.5 fold structure by adding more detail and nuance to each paragraph.
The terms "3.5 fold" and "8 fold" essay refer to different methods of organizing the structure of an essay. A 3.5 fold essay consists of an introduction, three body paragraphs, and a conclusion. The three body paragraphs each have a specific purpose and follow a specific structure: the first paragraph introduces the main idea, the second paragraph supports the main idea with evidence, and the third paragraph provides a conclusion or summary.
On the other hand, an 8 fold essay expands on the 3.5 fold structure by adding more detail and nuance to each paragraph. The introduction and conclusion remain the same, but each body paragraph is broken down into smaller sections that address different aspects of the main idea. This allows for a more thorough exploration of the topic and a more complex argument.
In summary, the main difference between a 3.5 fold and an 8 fold essay is the level of detail and complexity in the organization of the body paragraphs. The 8 fold essay provides a more in-depth exploration of the topic, while the 3.5 fold essay is a simpler and more straightforward structure.
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Principles of Investment
Assignment Active
Monetary Policy and Investments
Juan is always researching different investment options.
A few weeks ago he noticed some nice homes for sale in
his neighborhood. The listed prices were below market
value. Today on the news he heard that the Federal
Reserve lowered interest rates for banks and that banks
have lowered interest rates for home mortgages in turn.
As a result, there has been a huge boom in the number of
people purchasing homes.
What is most likely to happen as a result of the
change in interest rates?
O Housing prices will go up and down due to
changing fiscal policy.
O The market will experience more demand and the
price of houses will go up.
O The price of houses will go down in response to the
decreased demand.
O The prices for homes in that area will be stable due
to the new monetary policy.
4
Answers
As a result of the decrease in interest rates, Option B. The market will experience more demand, and the price of houses will go up.
The demand for houses will go up and housing prices will increase, causing individuals who were on the fence about buying a house to act swiftly before prices rise too much. As a result, housing sales are expected to surge. Lower interest rates, on the other hand, are often linked to increased borrowing and spending in the economy. Because borrowing money is now less expensive, more people are more willing to do so and the money supply in circulation rises.
The decrease in interest rates could cause more individuals to be more willing to purchase a home due to lower interest rates and more affordable mortgage payments. Lowering interest rates for banks and home mortgages, as well as lowering the cost of borrowing, encourages more people to buy houses, resulting in a greater demand for homes and, in turn, driving up the prices of homes.
As a result, option B is correct: the market will experience more demand, and the price of houses will go up. Therefore, the correct option is B.
The question was incomplete, Find the full content below:
Juan is always researching different investment options. A few weeks ago he noticed some nice homes for sale in his neighborhood. The listed prices were below market value. Today on the news he heard that the Federal Reserve lowered interest rates for banks and that banks have lowered interest rates for home mortgages in turn. As a result, there has been a huge boom in the number of people purchasing homes. What is most likely to happen as a result of the change in interest rates?
A. Housing prices will go up and down due to changing fiscal policy.
B. The market will experience more demand and the price of houses will go up.
C. The price of houses will go down in response to the decreased demand.
D. The prices for homes in that area will be stable due to the new monetary policy.
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As a call center agent you have a script that you must read to customers from a computer. A customer calls with an issue but your computer screen is freezing and moving very slowly making it difficult for you to address the issue as scripted.
Answers
Customer care teams utilize written instructions called customer service scripts to confirm and address issues or concerns from customers. A customer service script can be used for talks over the phone, and on social media.
What are the difficulties to address the issue as scripted?No matter who is at blame, the first thing you want to do when there is a problem is apologised and show empathy. While you want to assist in their problem-solving, you also want to make sure that their worries are acknowledged and taken seriously.
The basic problems of pricing inaccuracies, order mix-ups, and other product-related concerns are covered in the scripts that follow. when a wrong mailing address is typed. It appears that your order was sent to the incorrect address. I apologize for it. Another is being sent to your address, and it ought to show up there within the next week.
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Explain why different things are important for journalists from different media, with specific reference to radio, television and daily newspapers journalists. (9 marks)
Answers
Answer:
Because each of those mediums has a different logic.
Explanation:
For journalists in television, time is a great constraint, and therefore, they are interested in news reporting that is succint, and even entertaining.
In newspapers, what is limited is not time, but word space. Journalists are worried about presenting a newstory with the right words, but without an excessive amount of them.
Finally, in radio, journalists are worried about presenting a newscast with clear words, and in a way that the listener can understand, because radio lacks the visual clues that are present in newspapers and television.
Discuss how to find a good balance between work and home life and prevent stress or
overload
Answers
Answer:
Play to your strengths. Don't try and be all things to all people. ...
Prioritise your time. ...
Know your peaks and troughs. ...
Plot some personal time. ...
Have set work hours – and stick to them. ...
Find time for your finances. ...
Manage your time, long term. ...
Make your workspace work for you.
What kinds of barriers get in the way of "following your dreams"?
Answer: A. Individuals may not have the talents or resources to simply do whatever they dream of doing.
Answers
The kind of obstacles that prevent people from "following their ambitions" It's possible that some people lack the skills or resources necessary to pursue their dreams.
What kinds of skills are examples?making excellent choices despite having little knowledge. recognizing other people's viewpoints and interacting with various types of people successfully. Setting objectives, keeping track of progress, and making an effort to enhance your job. generating original answers and imaginative concepts to address issues.
What does human resources talent mean?Talent management, which includes a variety of HR procedures throughout the employee life cycle, is the attraction, selection, and retention of personnel. It includes hiring, onboarding, succession planning, learning and development, performance management, workforce planning, and employee engagement.
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Answer:
Individuals may not have the talents or resources to simply do whatever they dream of doing.
Explanation: Just took the test
What is a class action suit?
OA. When a lawsuit is dismissed by a judge because the court does
not have proper jurisdiction
B. When a lawsuit involves not only one punishment, but an entire list
of consequences
C. When a group of consumers that suffer similar damages bring a
case against a business together
D. When an individual brings a lawsuit against all businesses in an
industry together
it’s c
Answers
A class action suit is a case, brought up by a group of consumers that suffer similar damages, against a business together. Hence, the correct answer will be an option(c).
Consumers, suffering a similar loss caused by a business, come forward and file a lawsuit together against the same business. This type of lawsuit is known as a class action suit. It is also known as Representative action. If the group wins the lawsuit, it will be compensated for the damages caused but if they lose the lawsuit, it will not receive any type of financial compensation.
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You receive an email that you have won $100. For the company to transfer the money to your account, they need access to your bank routing number. What is the BEST way to handle this situation?
A. Reply with the information asked for.
B. Ask for further verification to prove that this is a legit company.
C. Request that they send you the money via an electronic gift card.
D. Click on the company’s logo so you can verify they have a real website.
Answers
Answer:
B
Explanation:
The BEST way to handle this situation is to ask for further verification to prove that this is a legit company.
What does verification means?This is when an individual ensures that the information he or she receives is genuine. The reason is to prevent fraud from the person sending an email.
Hence, the BEST way to handle this situation is to ask for further verification to prove that this is a legit company.
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An exchange economy has two consumers, named Jimmy and Sue, and two commodities, apples and bananas. Jimmy’s initial endowment is 2 units of apples and 4 unit of bananas. Sue’s initial endowment is 4 apples and 4 units of bananas. Jimmy’s utility function over apples and bananas is U(AJ, BJ) =AJ1/2 BJ1/2. Sue’s utility function is of the form U(AS, BS) =AS+BS, where AJ and BJ are the amounts of apples and bananas for Jimmy and AS and BS are amounts of apples and bananas for Sue.The equation of the contract curve in terms of Jimmy’s coordinates is:________
a. BJ= 2AJ
b. BJ=(A2J)/2
c. BJ=AJ
d. BJ= (8AJ)/(1+AJ)
e. None of the above
Answers
Answer:
(a) BJ = AJ
In equilibrium, apples and bananas have the same price.
Jimmy’s consumption bundle must be 3 apples and 3 bananas
i just did this
Explanation:
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