a) If on January 1, 2020, QuickPort Company acquired 90 percent of the outstanding voting stock of NetSpeed, Inc., the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December 31, 2021 will be:
Investment Account:
Consideration paid (fair value) $810,000
Net Income for 2020 $80,000
Database distribution ($60,000/5) ($12,000)
Netspeed's adjusted income $68,000
($80,000-$12,000)
Quickport ownership percentage 90%
(100%-10%)
Quickport share of net income $61,200
(90%×$68,000)
Gain on equipment transfer $3,000
[$42,000-($48,000-$9,000)
Depreciation adjustment (6 Months) $500
[($3,000/3year)/2]
Equity in earnings of Netspeed $58,700
($61,200-$3,000+$500)
Quickport share of Netspeed's dividends ($7,200)
(90% ×$8,000)
Balance 12/31/2020 $861,500
($810,000+$58,700-$7,200)
Netspeed's reported net income for 2021 $115,000
Database amortization ($12,000)
($60,000/5)
Netspeed's adjusted 2021 net income $103,000
Quickport's ownership percentage 90%
(100%-10%)
Quickpoet's share of Net speed net income $92,700
(90%×$103,000)
Depreciation adjustment $500
[($3,000/3year)/2]
Equity in earnings of Netspeed company 2021 $93,200
($92,700+$500)
Quickport's share of Netspeed's dividend ($7,200)
(90% ×$8,000)
Balance 12/31/2021 $947,500
($861,500+$93,200-$7,200)
b. Preparation of the worksheet adjustments for the December 31, 2021, consolidation of QuickPort and NetSpeed.
1. Dr Equipment $6,000
($48,000 - $42,000)
Cr Investment in Netspeed $2,500
($3,000-$500)
Accumulated depreciation $8,500
($6,000+$2,500)
2. Dr Common stock-Netspeed $800,000
Dr Retained eanings-Netspeed $114,000
[$42,000+($80,000-$8,000)]
Cr Investment in Netspeed $822,600
[($800,000+$114,000)×90%]
Cr Noncontrolling interest $91,400
[($800,000+$114,000)×10%]
3. Dr Database $36,000
($48,000-$12,000)
Cr Investment in Netspeed $32,400
($36,000×90%)
Cr Noncontrolling interest $3,600
($36,000×10%)
4. Dr Equity in earnings of Netspeed $93,200
Cr Investment in Netspeed $93,200
5. Dr Investment in Netspeed $7,200
Dividends declared $7,200
(90%×$8,000)
6. Dr Amortization expense $12,000
Cr Database $12,000
($60,000/5)
7. Dr Accumulated depreciation $1,000
Cr Depreciation expense $1,000
($3,000/3 years)
Learn more here:
https://brainly.com/question/16625691
Ever since Damien interned at an accounting firm the summer after his freshman year of college, he’s wanted to become a CPA working at a large firm. Now, several years later after graduating from college, passing the CPA exam, and working at medium-sized firm, he’s been offered a job at a large national firm with the potential to become a partner in five years. Which of the five needs has Damien attained?
The need from Maslow's Hierarchy of Needs that has been accomplished is the esteem needs.
Maslow's Hierarchy of Needs simply refers to the theory of motivation that implies that there are certain needs that affect the behavior of a person.
Maslow's Hierarchy of Needs include:
Physiological needsSafety needsLove and belonging needsEsteem needsSelf-actualization needsBased on the information given, Damien has attained the esteem needs. This includes self-worth, respect, recognition, and reputation. Since Damien is wanted to become a CPA working at a large firm, he's in the fourth stage which is esteem needs.
Read related link on:
https://brainly.com/question/24988735
The following were selected from among the transactions completed by Essex Company during July of the current year:
July 3. Purchased merchandise on account from Hamling Co., list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice.
5. Purchased merchandise on account from Kester Co., $33,450, terms FOB destination, 2/10, n/30.
6. Sold merchandise on account to Parsley Co., $36,000, terms n/15. The cost of the merchandise sold was $25,000.
7. Returned $6,850 of merchandise purchased on July 5 from Kester Co.
13. Paid Hamling Co. on account for purchase of July 3.
15. Paid Kester Co. on account for purchase of July 5, less return of July 7.
21. Received cash on account from sale of July 6 to Parsley Co.
21. Sold merchandise on MasterCard, $108,000. The cost of the merchandise sold was $64,800.
22. Sold merchandise on account to Tabor Co., $16,650, terms 2/10, n/30. The cost of the merchandise sold was $10,000.
23. Sold merchandise for cash, $91,200. The cost of the merchandise sold was $55,000.
28. Paid Parsley Co. a cash refund of $7,150 for returned merchandise from sale of July 6. The cost of the returned merchandise was $4,250.
31. Paid MasterCard service fee of $1,650.
Required:
Journalize the entries to record the transactions of Essex Company for July using the periodic inventory system.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Journal Entries for the transactions during the month of July by Essex Company are as follows:
July 3. Debit Purchases $61,200
Debit Freight-in Expenses $1,450
Credit Accounts Payable (Hamling Co.) $62,650
To record purchase of goods with a list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice.July 5. Debit Purchases $33,450
Credit Accounts Payable (Kester Co.) $33,450
To record purchase of goods on terms FOB destination, 2/10, n/30.July 6. Debit Accounts Receivable (Parsley Co.) $36,000
Credit Sales Revenue $36,000
To record sale of goods on terms n/15.
July 7. Debit Accounts Payable (Kester Co.) $6,850
Credit Purchases Returns $6,850
To record purchases returns.
July 13. Debit Accounts Payable (Hamling Co.) $62,650
Credit Cash $61,426
Credit Cash Discounts $1,224 ($61,200 x 2%)
To record payment on account and discounts.July 15. Debit Accounts Payable (Kester Co.) $26,600
Credit Cash $26,068
Credit Cash Discounts $532 ($26,600 x 2%)
To record payment in full plus discounts.July 21. Debit Cash $36,000
Credit Accounts Receivable (Parsley Co.) $36,000
To record cash sales.July 21. Debit Cash (MasterCard) $108,000
Credit Sales Revenue $108,000
To record sales on MasterCard.
July 22. Debit Accounts Receivable (Tabor Co.) $16,650
Credit Sales Revenue $16,650
To record sales on terms 2/10, n/30. The cost of the merchandise sold was $10,000.July 23. Debit Cash $91,200
Credit Sales Revenue $91,200
To record cash sales.
July 28. Debit Sales Allowances $7,150
Credit Cash (Parsley Co.) $7,150
To record the sales refund.July 31. Debit MasterCard service fee $1,650
Credit Cash $1,650
To record service fee payment.Data Analysis:
July 3. Purchases $61,200 Freight-in Expenses $1,450 Accounts Payable (Hamling Co.) $62,650
List price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice.
July 5. Purchases $33,450 Accounts Payable (Kester Co.) $33,450
terms FOB destination, 2/10, n/30.
July 6. Accounts Receivable (Parsley Co.) $36,000 Sales Revenue $36,000
terms n/15.
The cost of the merchandise sold was $25,000.
July 7. Accounts Payable (Kester Co.) $6,850 Purchases Returns $6,850
July 13. Accounts Payable (Hamling Co.) $62,650 Cash $61,426 Cash Discounts $1,224 ($61,200 x 2%)
July 15. Accounts Payable (Kester Co.) $26,600 Cash $26,068 Cash Discounts $532 ($26,600 x 2%)
July 21. Cash $36,000 Accounts Receivable (Parsley Co.) $36,000
July 21. Cash (MasterCard) $108,000 Sales Revenue $108,000
The cost of the merchandise sold was $64,800.
July 22. Accounts Receivable (Tabor Co.) $16,650 Sales Revenue $16,650
terms 2/10, n/30. The cost of the merchandise sold was $10,000.
July 23. Cash $91,200 Sales Revenue $91,200
The cost of the merchandise sold was $55,000.
July 28. Sales Allowances $7,150
Cash (Parsley Co.) $7,150
The cost of the returned merchandise was $4,250.
July 31. MasterCard service fee $1,650 Cash $1,650
Thus, the journal entries have been recorded for July transactions for the Essex Company based on the periodic inventory system.
Learn more: https://brainly.com/question/17201601
It is December 31, the end of the year, and the controller of Saxton Corporation is applying the lower-of-cost-or-market (LCM) rule to inventories. Before any year-end adjustments, the company reports the following data: LOADING...(Click the icon to view the data.) Saxton determines that the net realizable value of ending inventory is $48,000. Show what Saxton should report for ending inventory and for cost of goods sold. Identify the financial statement where each item appears. Financial statement where item is reported Balance to be reported Inventory Balance Sheet Cost of goods sold Income Statement 393000
The inventory that will be reported on the balance sheets is $43000 while the cost of goods sold is $455000
Your question is incomplete. A similar question will be used on guiding you. Let's assume the following figures:
The net realizable value of ending inventory = $43000Historical cost of ending inventory = $58000Cost of goods sold = $440000To know the inventory amount that will be reported on the balance sheets, you've to select the lowest between the net realizable value of the ending inventory and the historical cost of ending inventory. The lowest is $43000.
The cost of goods sold that'll be reported will be:
= $440,000 + $15,000
= $455,000
Read related link on:
https://brainly.com/question/24952762
(Textbook Numerical Problems 4). The Missing Link Chain-Link Fence Company is trying to determine how many chain-link fabricating machines to buy for its factory. If we define a chain-link fence of some specified length to be equal to one unit of output, the price of a new fabricating machine is 60 units of output, and the price of a one-year-old machine is 51 units of output. These relative prices are expected to be the same in the future. The expected future marginal product of fabricating machines (i.e., MPKf), measured in units of output, is 165-2K, where K is the number of machines in use. There are no taxed of any sort. The real interest rate is 10% per year. (a). What is the user cost of capital? Specify the units in which your answer is measured.
The user cost of capital will be 15 units.
Price of new fabricating machine= 60 units of output
Price of a one-year-old machine = 51 units of output
Marginal cost of fabricating machine = 165 - 2K
Real interest rate = 10%
We'll then calculate depreciation which will be:
= (60 - 51)/60 × 100
= 9/60 × 100
= 15%
Therefore, the cost of capital will be:
= (Interest rate + Depreciation) × Price
= (0.10 + 0.15) × 60
= 0.25 × 60
= 15
Therefore, the user cost of capital is 15 units
Read related link on:
https://brainly.com/question/24987217
Which of the following is an item of capital expenditure?
A. repairs to a machine
B. purchase of a machine
C. cost of goods sold
D. wages cost
Answer:
B. purchase of a machine
Explanation:
6. One advantage of an enclosed office layout is that employees can be closely
monitored/supervised.
True
False
Answer:
false
Explanation:
Low supervision: it is more difficult to supervise each employee in private offices, however, this is often a positive point allowing for greater responsibility, trust in employees and independence
In 2019, Whispering Enterprises issued, at par, 60 $1,000, 9% bonds, each convertible into 100 shares of common stock. Whispering had revenues of $17,100 and expenses other than interest and taxes of $8,100 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,400 shares of common stock were outstanding; none of the bonds was converted or redeemed.
(a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
(b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on September 1, 2020 (rather than in 2019), and none have been converted or redeemed. Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
(c) Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1, 2020. Compute diluted earnings per share for 2020
2019, Whispering Enterprises issued, at par, 60 $1,000, 9% bonds, each convertible into 100 shares of common stock. Whispering had revenues of $17,100 and expenses other than interest and taxes of $8,100 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,400 shares of common stock were outstanding; none of the bonds was converted or redeemed.
2019, Whispering Enterprises issued, at par, 60 $1,000, 9% bonds, each convertible into 100 shares of common stock. Whispering had revenues of $17,100 and expenses other than interest and taxes of $8,100 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,400 shares of common stock were outstanding; none of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
2019, Whispering Enterprises issued, at par, 60 $1,000, 9% bonds, each convertible into 100 shares of common stock. Whispering had revenues of $17,100 and expenses other than interest and taxes of $8,100 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,400 shares of common stock were outstanding; none of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on September 1, 2020 (rather than in 2019), and none have been converted or redeemed. Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $
2019, Whispering Enterprises issued, at par, 60 $1,000, 9% bonds, each convertible into 100 shares of common stock. Whispering had revenues of $17,100 and expenses other than interest and taxes of $8,100 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,400 shares of common stock were outstanding; none of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on September 1, 2020 (rather than in 2019), and none have been converted or redeemed. Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ (c) Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1, 2020. Compute diluted earnings per share for 2020
2019, Whispering Enterprises issued, at par, 60 $1,000, 9% bonds, each convertible into 100 shares of common stock. Whispering had revenues of $17,100 and expenses other than interest and taxes of $8,100 for 2020. (Assume that the tax rate is 20%.) Throughout 2020, 2,400 shares of common stock were outstanding; none of the bonds was converted or redeemed. (a) Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ (b) Assume the same facts as those assumed for part (a), except that the 60 bonds were issued on September 1, 2020 (rather than in 2019), and none have been converted or redeemed. Compute diluted earnings per share for 2020. (Round answer to 2 decimal places, e.g. $2.55.) Earnings per share $ (c) Assume the same facts as assumed for part (a), except that 20 of the 60 bonds were actually converted on July 1, 2020. Compute diluted earnings per share for 2020
(STATEMENT OF STOCKHOLDERS’ EQUITY) In its most recent financial statements, Nessler Inc. reported $75 million of net income and $825 million of retained earnings. The previous retained earnings were $784 million. How much in dividends were paid to shareholders during the year? Assume that all dividends declared were actually paid.
Answer:
95 mill
Explanation:
Use the graph illustrating the market for gasoline-fueled cars to answer the question. Which situation corresponds with this graph of the market for gasoline-fueled cars?
O The government increased tariffs on aluminum and steel, increasing the cost of producing all cars.
O The average price of crude oil decreased, causing the price of gasoline to decrease as well.
O The government strengthened safety standards, forcing producers to include more safety equipment in all cars.
O The average price of lithium decreased, causing the price of batteries used in electric cars to decrease.
The situation that corresponds with the graph of the market for gasoline-fuelled cars is the average price of crude oil decreased, causing the price of gasoline to decrease as well.
The graph is a diagram of the demand and supply curve for gasoline-fuelled cars. There is a rightward shift of the demand curve. A rightward shift of the demand curve indicates that the demand for gasoline-fuelled cars have increased.
Factors that can lead to a rightward shift of the demand curve for gasoline-fuelled cars
A decrease in the cost of a complement good: A complement good is a good that can be used together with a gasoline-fuelled car. An example of a complement good for gasoline-fuelled car is gasoline. If there is a decrease in the cost of gasoline, the demand for gasoline-fuelled cars would increase. An increase in the price of substitute goods: A substitute good is a good that can be used in place of another good. A substitute for gasoline-fuelled cars are electric cars. If the price of electric cars increase, the demand for gasoline-fuelled car would increase.To learn more, please check: https://brainly.com/question/14842844?referrer=searchResults
Match the type of teams to the scenario that portrays each of them.
traditional work teams
flexible work teams
self-managed teams
lean production teams
Sara loves working with her team. Each member is involved in some of the
decision-making activities. Her supervisor works as a part of the team and
sometimes alongside them when the situation requires it.
At Sam's workplace, he is a part of a team that reports to a supervisor. There is
no interdependence on the team, and each member has individual goals to
accomplish
At Tina's workplace, she is a part of a team that follows a standard operating
procedure, and their work is production-based. She has no say in management
activities.
Roy and his team members are highly involved in all the team activities and
decision-making activities at work. Each member has the liberty to choose the
work process that suits him or her best. Their supervisor facilitates the team's
requirements
Matching the type of teams to the best scenarios that portray them will be as follows:
Types of Teams Portraying Scenarios
Traditional work teams C. At Tina's workplace, ...
Flexible work teams A. Sara loves working ...
Self-managed teams B. At Sam's workplace, ...
Lean production teams D. Roy and his team members ...
The characteristics of teams are enumerated below:
Traditional work teams: individuals have shared processes and goals. Flexible work teams: there is greater flexibility in the working pattern. Self-managed teams: individuals are focused on their different objectives. Lean production teams: make quick decisions that benefit the company.Thus, various work teams can be instituted, with each type achieving specific purposes.
Learn more about work teams at https://brainly.com/question/18122514
Calcular el interes que genera un capital emprestado de $ 15500 a una tasa del 6,5% anual durante 240 dias
Necesito ayuda
Answer:
I think answer is 41.97.
Luther is a successful logistical services firm that currently has $5 billion in cash. Luther has decided to use this cash to repurchase shares from its investors, and has already announced the stock repurchase plan. Currently Luther is an all equity firm with 1.25 billion shares outstanding. Luther's shares are currently trading at $20 per share.The market value of Luther's non-cash assets is closest to:
The non-cash assets of Luther is closest to a market value of $20 billion.
Based on the accounting equation that Assets = Liabilities + Equity, the non-cash assets can also be determined as follows:Non-cash Assets + Cash = Liabilities + Equity (market value)Non-cash assets = 0 + $25 billion - $5 billionNon-cash assets = $20 billion.
Data and Calculations:
Available cash = $5 billion
Number of equity shares = 1.25 billion
Current market price per share = $20
Market value of Equity = $25 (1.25 billion x $20)
Non-cash assets = $20 ($25 - $5) billion
Thus, Luther's non-cash assets has a market value of $20 billion.
Learn more about market value of assets at https://brainly.com/question/17924671
the ABC manufacturing firm, the average withdrawal rate for product A is 20
cartons per day, safety stock is 5 days, order lead time is 10 days, and the
order quantity is 45 days.
Requirement: What are the maximum and average quantities of unit loads to be
stored?
Answer:J is between H and K. If HJ=6x-5, JK=4x-6 and KH= 129, find the value of HJ
Explanation:J is between H and K. If HJ=6x-5, JK=4x-6 and KH= 129, find the value of HJ
If an insured under a variable life insurance policy does , how will the insurer respond to outstanding policy loans
Variable life insurance is quite different from policies like Conventional Whole life assurance, Fire Insurance, Motor Insurance, House-owner Insurance etc.
This type of life insurance provides permanent life insurance policy with an investment component which acts similarly to a mutual fund investment.It is important to understand that the policy does provide loan out features to the life assured if the policy have been in existence for long.In conclusion, the loan are not required to be paid back, rather, they will be deducted from the Cash value (Benefit payable) on the Variable life insurance policy.
Learn more about this policy here
brainly.com/question/11859555
What strategies and plans would you develop to improve communication at all levels?
Answer:
Keep it real. When delivering your message, be truthful and as complete as possible. ...
Be timely. Don't wait until you have all the information to deliver a message. ...
Focus on consistency. ...
Tailor your message. ...
Reinforce it. ...
Encourage feedback. ...
Empower your managers.
Explanation:
Oleg's four employees have been with him since he opened Ready Recruitment Services nearly a decade ago. As he anticipates staffing his new branch office, he decides none of these four long-time employees are ready to manage the office. Faced with this difficult situation, what should Oleg do
Faced with this difficult situation, ideally, Oleg would run the new branch himself and nominate one of the three to assume the original office, as this would be a way to demonstrate confidence and test the skills of an employee in a higher position.
In this way, the former employee's chances of succeeding in a more responsible management position would increase, due to the employee's long-term knowledge of the workplace and organizational structure.
Oleg should choose for the position and train the collaborator who:
Demonstrate greater innovation and creativity.Be flexible.Have assertive communication skills.Therefore, this would be a way for Oleg to analyze the skills as a manager of an employee in relation to a work environment he already knows.
Oleg would also be able to increase his willingness to manage the new office effectively.
Learn more here:
https://brainly.com/question/16289727
Question 1
A) Sarah has an apple and Ava has a bag of chips. Sarah would rather consume the bag of chips, and Ava would prefer to consume the apple. Which of the following is an example of bartering?(1 point)
Sarah pays Ava $1 for her bag of chips.
Ava pays Sarah $1 for her apple.
Sarah trades her apple for Ava's bag of chips.
Sarah and Ava consume the goods they currently possess.
Question 2
A) Gold has historically functioned as money. This is due, in part, to the willingness of others to accept it as valid payment for goods and services. In this case, gold is functioning as a(n)(1 point)
store of value.
unit of account.
fiat money.
medium of exchange.
Question 3
A) Consider a hypothetical economy in which rice functions as money. In addition to being valued as money, rice is valued as a consumer good. In this scenario, rice is said to be(1 point)
fiat money.
representative money.
currency.
commodity money.
Question 4
A) Elementary school students often trade food items at lunch in an effort to have the best lunch possible. In one elementary school, pudding cups have become so popular that they have become a unit of account. This means that(1 point)
a pudding cup will likely have the same purchasing power tomorrow as it does today.
a pudding cup entitles its holder to a share of some valuable asset.
students are eager to accept pudding cups in exchange for any lunch item.
the price of other lunch items is expressed in quantities of pudding cups.
Question 5
A) Which of the following illustrates the difference between the U.S. dollar, a form of fiat money, and a U.S. gold certificate, a representative currency?(1 point)
A U.S. dollar does not have value in addition to its value as money.
A gold certificate does not represent a claim to some specific asset.
A gold certificate does not have value in addition to its value as money.
A U.S. dollar does not represent a claim to some specific asset.
The correct answers are:
C. Sarah trades her apple for Ava's bag of chips.
D. medium of exchange.
D. commodity money.
D. the price of other lunch items is expressed in quantities of pudding cups.
D. A U.S. dollar does not represent a claim to some specific asset.
Question 1
A) Sarah has an apple and Ava has a bag of chips. Sarah would rather consume the bag of chips, and Ava would prefer to consume the apple. Which of the following is an example of bartering?(1 point)
Sarah pays Ava $1 for her bag of chips.
Ava pays Sarah $1 for her apple.
Sarah trades her apple for Ava's bag of chips.
Sarah and Ava consume the goods they currently possess.
Question 2
A) Gold has historically functioned as money. This is due, in part, to the willingness of others to accept it as valid payment for goods and services. In this case, gold is functioning as a(n)(1 point)
store of value.
unit of account.
fiat money.
medium of exchange.
Question 3
A) Consider a hypothetical economy in which rice functions as money. In addition to being valued as money, rice is valued as a consumer good. In this scenario, rice is said to be(1 point)
fiat money.
representative money.
currency.
commodity money.
Question 4
A) Elementary school students often trade food items at lunch in an effort to have the best lunch possible. In one elementary school, pudding cups have become so popular that they have become a unit of account. This means that(1 point)
a pudding cup will likely have the same purchasing power tomorrow as it does today.
a pudding cup entitles its holder to a share of some valuable asset.
students are eager to accept pudding cups in exchange for any lunch item.
the price of other lunch items is expressed in quantities of pudding cups.
Question 5
A) Which of the following illustrates the difference between the U.S. dollar, a form of fiat money, and a U.S. gold certificate, a representative currency?(1 point)
A U.S. dollar does not have value in addition to its value as money.
A gold certificate does not represent a claim to some specific asset.
A gold certificate does not have value in addition to its value as money.
1. An example of bartering is Sarah trades her apple for Ava's bag of chips.
2. Gold has historically functioned as money because it is a medium of exchange.
3. In the hypothetical economy, rice is said to be a commodity money.
4. When Pudding cups serve as a unit of account, it means that the price of other lunch items is expressed in quantities of pudding cups.
5. The difference between the U.S. dollar, and a U.S. gold certificate is a U.S. dollar does not have value in addition to its value as money.
Trade by barter is when people exchange goods with goods. Money is not used in a trade by barter. Trade by barter was used before the invention of money. For example, a trade by barter occurs when Sarah trades her apple for Ava's bag of chips.
Commodity money is money for which its value comes from the commodity from which it is made.
Fiat money is currency whose value is not backed up by any asset. Representative money is money whose value is backed up an asset.
Money can be described as something that is accepted as a means of payments for products.
Functions of money
1. Medium of exchange: money serves as a medium of exchange when it is accepted as payment for goods and services. For example, 2 ounces of gold is accepted as means of payment for a dress.
2. Unit of account: money can be used to determine the value goods and services, For example, 2 cups of puddings is equivalent to plate of fruits.
3. Store of value: money can retain its value over the long term, this it can be used as a store of value.
To learn more about money, please check: https://brainly.com/question/14816216?referrer=searchResults
Answer:
1. Sarah trades her apple for Ava's bag of chips.
2. medium of exchange.
3. commodity money.
4. the price of other lunch items is expressed in quantities of pudding cups.
5. U.S dollars does not represent a claim to some specific assets
COMO CREES QUE SE PODRIA SOLUCIONAR LA POBREZA ?? POR FAVOR DOY CORONA , Y CORAZON ( E QUE NO SEPA NO ESCRIBA ) :(
Answer:
tenga pa que se entretenga
A manufacturer has two manufacturing departments, Assembly and Painting. The company uses the FIFO method and it reports the following data. Units completed in the Assembly department are transferred to the Painting department. Units Direct materials Percent Complete Conversion Percent Complete Beginning work in process inventory 75,000 60% 40% Units started this period 900,000 Units completed and transferred out 885,000 Ending work in process inventory 90,000 80% 30% Production cost information for the Assembly department follows. Beginning work in process Direct materials $ 134,400 Conversion 45,900 $ 180,300 Costs added this period Direct materials $ 3,693,600 Conversion 2,690,100 $ 6,383,700 Calculate the number of units started and completed this period for the Assembly department.
The number of units that the manufacturer started and completed this period for the Assembly Department is 810,000 units.
Data and Calculations:
Units Direct materials Conversion
Percent Complete Percent Complete
Beginning WIP inventory 75,000 60% 40%
Units started this period 900,000
Units completed and
transferred out 885,000
Ending WIP inventory 90,000 80% 30%
Units started and completed this period = Units completed and transferred out - Beginning work in progress inventory
= 810,000 units (885,000 - 75,000)
Thus, it is also equal to Units started in the Assembly Department during the period minus Ending work in progress inventory
= 810,000 units (900,000 - 90,000)
Learn more: https://brainly.com/question/17215592
1. A pharmacy has determined that a healthy person should receive 70 units of proteins, 100 units of carbohydrates and 20 units of fat daily. If the store carries the six types of health food with their ingredients as shown in the table below, what blend of foods satisfies the requirements at minimum cost to the pharmacy? Make a mathematical model for the given problem.
Answer: 50
Explanation: test
Which scenario best reflects the relationship between production and demand in a recession?
Car dealerships have minimal overstock.
Car dealerships are not restocking.
• Car dealerships cannot sell their stock.
• Car dealerships cannot obtain stock.
Answer:
A car dealership can't sell their stock
Explanation:
In a recessionary economic situation, the scenario that best reflects the relationship between production and demand is a car dealership cannot sell its stock.
What characterizes a recession?It occurs when an economy declines for two consecutive quarters. It is an analysis that is based on the variation of a country's GDP.
Therefore, in a recession situation, consumers would generally choose to spend their money on essentials such as food and medicine. It is then concluded that the sale of vehicles in this period would be reduced and therefore the dealerships would not sell their stock.
Find out more about recession here:
https://brainly.com/question/1417711
what term is used to describe the process of reducing foreign exchange risks
Answer:
business transactions are denominated in foreign currencies. In international accounting, a "hedge" is: ... a business transaction made to reduce the exposure of foreign exchange risk.
The demand curve shows that the quantity consumed of a good or service
Question 6 options:
decreases as price decreases
is not affected by price
increases as price increases
increases as price decreases
Answer:
increase by price
Explanation:
because, of quantity let me m know if I am correct I am pretty sure I am
Job order costing can be applied or used at the same time with
a. actual costing system
b. normal costing system
c. both a and b
d. none of the above
A company purchased $4,400 worth of merchandise. Transportation
costs were an additional $385. The company returned $305 worth of
merchandise and then paid the invoice within the 2% cash discount
period. The total cost of this merchandise is:
Answer:
If I did get it right it should be 4,569.6
which of the following business is LEAST likely to be organized as a sole proprietorship?
Answer: Their business and personal assets are at risk. managerial ability is limited, sole proprietorship form of business organization is not suitable for large-scale business.
Explanation:
Del Gato Clinic's cash account shows a $14,298 debit balance and its bank statement shows $14,156 on deposit at the close of business on June 30. Outstanding checks as of June 30 total $2,872. The June 30 bank statement lists a $60 bank service charge. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. The June 30 cash receipts of $2,963 were placed in the bank night depository after banking hours and were not recorded on the June 30 bank statement.
Required:
Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation.
If on June 30 bank statement lists a $60 bank service charge. Check No. 919, listed with the canceled checks, was correctly drawn for $389 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $398. The adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank reconciliation will be:
a) No journal entry required
b) Debit Miscellaneous expenses $60
Credit Cash $60
c) Debit Cash $9
Credit Utilities expense $9
Preparation Del Gato Clinic adjusting journal entries
a) No journal entry required
b) Debit Miscellaneous expenses $60
Credit Cash $60
(To record bank service charge)
c) Debit Cash $9
Credit Utilities expense $9
($398-$389)
(To record utilities expense)
Learn more here:
https://brainly.com/question/16846894
Wyoming Restoration Company completed the following selected transactions during July 20Y1:
July 1. Established a petty cash fund of $1,200. 12.
The cash sales for the day, according to the cash register records, totaled $8,356. The actual cash received from cash sales was $8,389. 31.
Petty cash on hand was $217. Replenished the petty cash fund for the following disbursements, each evidenced by a petty cash receipt:
July 3. Store supplies, $510.
7. Express charges on merchandise sold, $90 (Delivery Expense).
9. Office supplies, $30.
13. Office supplies, $35.
19. Postage stamps, $50 (Office Supplies).
21. Repair to office file cabinet lock, $60 (Miscellaneous Administrative Expense).
22. Postage due on special delivery letter, $28 (Miscellaneous Administrative Expense).
24. Express charges on merchandise sold, $135 (Delivery Expense).
30. Office supplies, $25.
July 31. The cash sales for the day, according to the cash register records, totaled $10,289. The actual cash received from cash sales was $10,275.
31. Decreased the petty cash fund by $100.
Journalize the transactions.
The appropriate journal entries Wyoming Restoration Company for the month of July 20Y1 are:
July 1
Debit Petty cash $1,200
Credit Cash $1,200
July 12
Debit Cash $8,389
Credit Cash short and over $33
($8,389-$8,356)
Credit Sales $8,356
July 31
Debit Store supplies $510
Debit Delivery expense $225
($90+$135)
Debit Office supplies $140
($30+$35+$50+$25)
Debit Miscellaneous Administrative Expense $88
($60+$28)
Debit Cash short and over $20
[$983-($510+$225+$140+$88)]
Credit Cash $983
($1,200-$217)
July 31
Debit Cash $10,275
Debit Cash short and over $14
($10,289-$10,275)
Credit Sales $10,289
July 31
Debit Cash $100
Credit Petty Cash $100
Learn more here:
https://brainly.com/question/15170148
Earlier this week, Trump called off a secret meeting at Camp David with Taliban and
Afghan government leaders and declared the peace talks "dead." As the September
11 anniversary began in Afghanistan, a rocket exploded at the U.S. Embassy just
after midnight. No injuries were reported.
They both describe the events that occurred on September 11, 2001, and who
was responsible for them.
They both describe the extra security measures that were taken at airports after
September 11, 2001.
They both highlight some of the problems that survivors and victims of the 9/11
attacks still face today.
They both highlight the continued conflict between the U.S. and Afghanistan
since the 9/11 attacks
Answer:
NEW YORK (AP) — People who were too young on 9/11 to even remember their lost loved ones, and others for whom the grief is still raw, paid tribute with wreath-layings and the solemn roll call of the dead Wednesday as America marked the 18th anniversary of the worst terror attack on U.S. soil.
“Eighteen years. We will not forget. We cannot forget,” Bud Salter, who lost his sister, Catherine, said at ground zero.
President Donald Trump laid a wreath at the Pentagon, telling victims’ relatives: “This is your anniversary of personal and permanent loss.”
“It’s the day that has replayed in your memory a thousand times over. The last kiss. The last phone call. The last time hearing those precious words, ‘I love you,’” the president said.
Later, former President George W. Bush, who was in office on 9/11, and then-Defense Secretary Donald Rumsfeld attended another wreath-laying at the Pentagon.
Near Shanksville, Pennsylvania, the third site where planes crashed on Sept. 11, 2001, Vice President Mike Pence credited the crew and passengers who fought back against the hijackers with protecting him and others in the U.S. Capitol that day.
“I will always believe that I and many others in our nation’s capital were able to go home that day and hug our families because of the courage and selflessness of your families,” said Pence, who was an Indiana congressman at the time. Officials concluded the attackers had been aiming the plane toward Washington.
Nearly 3,000 people were killed when terrorist-piloted planes slammed into the World Trade Center, the Pentagon and the field in Pennsylvania.
After reading part of the long list of names, Parboti Parbhu choked up as she spoke from the ground zero podium about her slain sister, Hardai. Even after nearly two decades, “there’s no easy way to say goodbye,” she said.
By now, the heritage of grief has been handed down to a new generation, including children and young adults who knew their lost relatives barely or not at all.
Jacob Campbell was 10 months old when his mother, Jill Maurer-Campbell, died on 9/11.
“It’s interesting growing up in a generation that doesn’t really remember it. I feel a connection that no one I go to school with can really understand,” Campbell, a University of Michigan sophomore, said as he attended the ceremony.
Like the families, the nation is still grappling with the aftermath of Sept. 11. The effects are visible from airport security checkpoints to Afghanistan, where the post-9/11 U.S. invasion has become America’s longest war. The aim was to dislodge Afghanistan’s then-ruling Taliban for harboring al-Qaida leader and Sept. 11 mastermind Osama bin Laden.
Earlier this week, Trump called off a secret meeting at Camp David with Taliban and Afghan government leaders and declared the peace talks “dead.” As the Sept. 11 anniversary began in Afghanistan, a rocket exploded at the U.S. Embassy just after midnight, with no injuries reported.
Al-Qaida’s current leader used the anniversary to call for more attacks on the U.S. and other targets.
In New York, Nicholas Haros Jr., who lost his mother, Frances, reminded the audience of the al-Qaida attackers and tore into Democratic Rep. Ilhan Omar of Minnesota over her recent “Some people did something” reference to 9/11.
“Our constitutional freedoms were attacked, and our nation’s founding on Judeo-Christian values was attacked. That’s what ‘some people’ did. Got that now?” he said to applause.
Omar, one of the first Muslim women elected to Congress, has said she didn’t intend to minimize what happened on Sept. 11, and accused critics of taking her words out of context. She tweeted Wednesday that “September 11th was an attack on all of us.”
The dead included Muslims, as Zaheda Rahman underscored after reading names at ground zero. She called her uncle, Abul Chowdhury, a “proud Muslim-American man who lived his life with a carefree nature, a zeal for adventure and a tenacity which I emulate every single day.”
Others made a point of spotlighting the suffering of firefighters, police and others who died or fell ill after being exposed to the smoke and dust at ground zero.
A compensation fund for people with potentially Sept. 11-related health problems has paid out more than $5.5 billion so far. More than 51,000 people have applied. Over the summer, Congress made sure the fund won’t run dry . The sick also gained new recognition this year at the World Trade Center site, where a memorial glade was dedicated this spring.
___