If steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on november 1st of this year). if his accounting methods are selected to minimize income recognition is : A. $1,500 is recognized in this year, $16,500 next year.
Determining the recognized incomeSince we were told that he received payment of the amount of $18,000 and as well received the amount of $750 per months starting from November 1 now let determine his recognized amount.
Recognized amount this year:
Recognized amount this year = Amount received in November × 2 months
Recognized amount this year = $750 × 2 months
Recognized amount this year = $1,500
Recognized amount next year:
Recognized amount next year = Amount received in September - Recognized amount in November
Recognized amount next year = $18,000 - $1,500
Recognized amount year = $16,500
Therefore the correct option is A..
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The complete question is:
Steven operates a landscaping service on the accrual method. In September of this year Steven received a payment of $18,000 for 24 months of landscape services ($750 per month commencing on November 1st of this year). When must Steven recognize the income if his accounting methods are selected to minimize income recognition?
A. $1,500 is recognized in this year, $16,500 next year.
B. $1,500 is recognized this year, $9,000 next year, and $7,500 in the last year or the contract
C. $18,000 is recognized this year
D. $9,000 is recognized this year and $9,000 next year
E. $18,000 is recognized in the last year of the contract
Which policy sought to further american interests in latin america by using the financial power of american business?.
Dollar diplomacy was the policy sought to further American interests in Latin America by using the financial power of American business.
What is Dollar diplomacy?Dollar diplomacy refers to American foreign policy to minimize threats of military force. The term Dollar diplomacy was introduced by William Howard Taft and his secretary Philander C. Knox in 1912, In order to ensure financial stability of Latin American and Eat Asian countries. Dollar diplomacy refers to the process in which a county's financial power is used to extend international influence.
Dollar diplomacy played an important role in widening the economic markets of America and also established Unites states as a predominant power. Dollar diplomacy helped to boost the struggling economies of Latin American and East Asian countries while expanding the US. The countries like China, Mexico, Dominican Republic and Russia. In spite of the success dollar diplomacy failed to prevent economic instability and revolutions in Mexico, China and Dominican Republic.
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the difference in the calculation of the cost-to-retail percentage applying the conventional retail method and the average cost method is that the average cost method: multiple choice includes markups. excludes markdowns. includes markdowns. excludes beginning inventory.
Net markups are included in the traditional retail technique, while net markdowns are not. The retail inventory method is an accounting technique for calculating the market value of a store's inventory.
The retail approach offers the final inventory. Applying various cost flow techniques, estimate ending inventory and cost of goods sold using the retail inventory approach.
Includes markdowns
Net markups are included in the traditional retail technique, while net markdowns are not. The average cost approach takes into account net markups as well as net markdowns.
Includes an initial inventory
The cost-to-retail percentage is only calculated using current-year purchases under the LIFO technique.
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from a financial reporting perspective, property, plant, and equipment and intangible assets exhibit the following characteristics (select all that apply.) multiple select question. short-lived valued at fair value long-lived revenue-producing
From a financial reporting perspective, property, plant, and equipment and intangible assets exhibit the following characteristics: 1. Long lived 2. revenue producing.
Assets with a long lifespan, also known as non-current or long-term assets, are those that are anticipated to generate income over the long term—generally more than a year. Long-lasting assets might be material, immaterial, or financial in nature. Identifying the cost of an asset at acquisition is the first challenge in accounting for long-lived assets.
Most long-lived assets have their costs capitalized and subsequently allocated as expenditures in the profit or loss statement over the time that they are anticipated to generate revenue.
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an engineer receives an invitation to participate in an industry-wide study on major trends affecting his industry in the next three years. the invitation indicates he was chosen due to the number of his published papers in industry journals. his participation is most likely influenced by
The participation of the engineer is most likely influenced by his self-perception.
What is an invitation?An invitation is described as a request to any individual in verbal or in written form to do any activity or a request to visit a place.
The engineer, if participates in the study, then he will highlight his self-perception and how he thinks about himself. The engineer can think that he has already published a paper in the industry journals and hence he has the expertise and knowledge of the field. Thus, his participation in the study will be a clear indication of his self-perception of his expertise.
It can be concluded that the participation of the engineer is most likely influenced by his self-perception.
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robinson's has 25,000 shares of stock outstanding with a par value of $1 per share and a market price of $44 a share. the balance sheet shows $25,000 in the common stock account, $425,000 in the paid in surplus account, and $350,000 in the retained earnings account. the firm just announced a 2-for-1 stock split. how many shares of stock will be outstanding after the split?
50,000 shares of stock will be outstanding after the split.
How do stock splits work?A stock split occurs when a company issues more shares to increase the stock's liquidity. Because a split does not fundamentally alter the company's value, even though the number of shares outstanding rises by a certain multiple, the total dollar value of all outstanding shares stays the same.
Two-to-one and three-to-one split ratios are the most popular (sometimes denoted as 2:1 or 3:1). Accordingly, each stockholder will receive two or three shares, respectively, for each share they had prior to the split.
Calculation:
The number of shares after the stock split equals the number of shares before the stock split multiplied by the stock split ratio (25,000 shares before the stock split).
The stock-split ratio is two to one.
Shares remaining after stock split =25,000*2/1 =50,000 shares
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ian's house and land have a market price of $225,000 and an assessed value of 55% of that amount. his state has a property tax rate of 0.088. how much does ian pay in property tax every year?
Ian will pay a yearly property tax of $10,890.
⇒$255,000 x 0.55 x 0.088 = $10,890
What is Property Tax?
An ad valorem tax on the value of a property is known as a property tax or millage rate. The governing body of the region where the property is located is responsible for collecting the tax. A town, a county, a federated state, or the federal government are all examples of this.
How is property tax calculated?
To estimate your annual property tax:
Multiply the taxable value of your property by the current tax rate for your property's tax class.
Property tax rates change each year, as well as the value of exemptions and abatements. The actual taxes you pay in July might be different.
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entities that place their own shelving in stores and continuously stock the shelves (this, relieving the host store of dealing with this activity) are known as .
Entities that place their own shelving in stores and continuously stock the shelves are known as rack jobbers.
What is an entity and what we call the entities that place their own shelving in stores and continuously stock the shelves?An entity is an existing real collaborative compartment , it could be a single person to a single organization.Here the question is asked about entities that place their own shelving in stores and continuously stock the shelves .Rack jobber is a company that has a deal with retailer to display the sold products.So rack jobber are the entities that place their own shelving in stores and continuously stock the shelves that is relieving the host store of dealing with this activity.To know more about entities visit:
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during its most recent fiscal year, dover, incorporated had total sales of $3,380,000. contribution margin amounted to $1,590,000 and income was $535,000. what amount should have been reported as fixed costs in the company's contribution margin income statement for the year?
$1,105,000 have been reported as fixed costs in the company's contribution margin income statement for the year.
Amount or equivalent paid or charged for something: Price The average cost of a college education has increased dramatically. b: Effort or expense (in the form of effort or sacrifice) made to achieve a goal. Although he gained fame, he lost a few friends.
“Cost” in the singular refers to the total for the entire group. "Cost" refers to all pieces in that group. For example, "The cost of a service includes the cost of materials and labor." From legal contracts to budget discussions, the difference between "cost" and "cost" often confuses people.
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hugh jackson is thinking about buying an investment. the investment option that he is thinking about buying is an investment where investors pool their money. one of the key features is that it is managed by professional managers. what investment is hugh thinking about purchasing? multiple choice common stock preferred stock corporate bond real estate mutual fund
Hugh is thinking about purchasing a Mutual Fund.
A mutual fund is a business that pools money from multiple investors and invests it in securities such as stocks, bonds, and short-term debt. The portfolio of the mutual fund is its total holdings. Mutual funds are purchased by investors.
A mutual fund is a type of investment vehicle that pools money from investors who share a common investment goal. Based on the scheme's objectives, it then invests the funds in various asset classes such as equities and bonds. These investments are made on behalf of the investors by an asset management company (AMC).
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an investor is considering purchasing a five-year corporate bond. the yield on the bond is 6.25%, the rate of inflation is 3%, the yield on the on-the-run treasury is 4.80%, and the price of the bond is par (or $100.00). the absolute yield spread, relative yield spread, and yield ratio, respectively, are:
The absolute yield spread, relative yield spread, and yield ratio, of the five-year corporate bond respectively, are: 1.45%, 30.21%, 1.30.
What is corporate bond?A firm can raise funds by issuing debt in the form of corporate bonds.Corporate bonds can be actively traded on the secondary market, but when an investor purchases one, they are actually making a loan to the company in exchange for a number of interest payments.Corporate bonds normally have higher interest rates than U.S. government bonds because they are thought to be slightly riskier in general.The term "Triple-A" bonds is used to describe the highest quality (and safest, lower yielding) bonds, whereas the term "junk" is used to describe the least creditworthy bonds.To learn more about corporate bond visit:
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deca electronics company produces two products, resistors and transistors in a small manufacturing plant which had total manufacturing overhead of $42,000 in june. the factory has two departments, design, which incurred $20,000 of manufacturing overhead, and production which incurred $22,000 of manufacturing overhead. design used 200 hours of direct labor and production used 80 machine hours. during june, 150 direct labor hours were used in making 100 units of resistors, and 150 direct labor hours were used in making 100 units of transistors. if deca electronics company uses a department rate based on direct labor hours for the design department and machine hours for the production department, the department overhead rates for the design and production departments in june were:
If Deca Electronics Company uses a department rate based on direct labor hours for the Design department and machine hours for the Production department, the overhead department rates for the design and production departments in June were $100/DLH and $275/MH, respectively.
What is an overhead rate?An overhead rate is the predetermined rate at which overhead is allocated to production units based on the accepted cost driver.
The overhead rate may be departmental or plantwide.
The predetermined overhead rate is the quotient of the estimated total manufacturing overhead for the period divided by the total cost driver units.
Total manufacturing overhead = $42,000
Design Production Total
Manufacturing overhead $20,000 $22,000 $42,000
Direct labor hours 200 hours
Machine hours 80 hours
Overhead rates $100 per hour $275 per hour
($20,000/200) ($22,000/80)
Resistors Transistors
Units produced 100 100
Direct labor hours 150 150
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the recency effect occurs when a rater gives greater weight to information received first when appraising an individual's performance. question 33 options: true false
The recency effect occurs when a rater gives greater weight to information received first when appraising an individual's performance is a true statement.
What does recency effect refer to?The recency effect is a memory phenomena where individuals tend to accurately recall information that is most recent. It is a cognitive bias whereby the last things, concepts, or arguments are remembered more vividly than the initial ones. The recency effect, in contrast to the primacy effect, is the propensity for people to more readily recall items that are presented last in a list. This is probably because those items were the most recent and are still stored in your short-term memory in the case of the recency effect.
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accompanying the bank statement was a credit memorandum for a short-term note collected by the bank for the depositor. this item would be included on the bank reconciliation as a(n)
According to the company's records, this item would appear as a(n): Deduction from the amount on the bank reconciliation. A debit memo for an NSF check that was received from a customer was included with the bank statement.
What is discovered during the bank reconciliation?The bank column in the cash book displays the cash at the bank, whereas the cash column in the cash book displays the available cash. Similar to this, every consumer has a record with the bank. Deposits are recorded on the credit side of the bank books, whilst withdrawals are recorded on the debit side. Unpaid checks are already listed in the book, thus they are a bank reconciliation item. Only for goods needed for book reconciliation will the company create journal entries. Therefore, there is no need to journalize unpaid checks. The right response is outstanding checks. The transit deposit is added to the bank reconciliation statement, but the unpaid checks are subtracted. Thus, the right response is
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foreign direct investment group of answer choices is an entry-mode strategy. symbolizes the highest rate of internationalization. means that a multinational owns, in part or in whole, an operation in another country. all of the above
In the past, a company would make an investment in constructing or upgrading a factory in another nation through foreign direct investment.
The acquisition of a controlling interest in a business in a different market is now included in this definition.
What is the strategy for direct foreign investment?
A type of cross-border investment known as foreign direct investment (FDI) occurs when a resident investor in one economy acquires a significant amount of influence and a long-term interest in a business in another economy.
What factors determine direct foreign investment?
When a person or company owns 10% or more of a foreign business, that is considered foreign direct investment. The International Monetary Fund considers a holding of less than 10 percent to be part of an investor's stock portfolio.
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middleton company uses the perpetual inventory system. the company purchased an item of inventory for $75 and sold the item to a customer for $120. how will the sale affect the company's inventory account?
The sale will affect the company's inventory account and the inventory will decrease by $75.
What is a perpetual inventory system?A perpetual inventory system is described as a type of software program. It makes an estimation of the inventory and the estimation is based on the electronic records of the inventory and no estimation will be done on the levels of the physical inventory. It is important to mention that the calculation starts from a physical count and then further updates are based on the shipments that are made in and made out.
The Middleton company uses the perpetual inventory system that can make a real estimation of the changes in inventory at the Point of sale system. Hence, the system will not account for any profit or loss on a transaction. Rather, when a $75 inventory is purchased by a customer, it will show inventory to reduce by $75.
It can be concluded that the sale will affect the company's inventory account and the inventory will decrease by $75.
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suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million. what is the labor force participation rate? round your answer to the nearest tenth.
The labor force is divided into employed persons and unemployed persons, the number of unemployed persons is 153.9 - 139.1 = 14.8 million.the adult population has the 83.9/237.8 = 35.3% persons out of the labor force.
All individuals who meet the qualifications to be counted as employed (civil employment plus active duty in the armed forces) or jobless are considered to be part of the labor force, also known as the currently active population. The armed forces comprise individuals from the metropolitan area who were enlisted during the time under review and were selected from the pool of all available labor force. People who are unemployed are those who are not now employed but are actively looking for jobs. This indicator is measured in individuals and is seasonally adjusted. The pool of people who are either employed or unemployed is referred to as the workforce or labor force.
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if a firm with market power is not making enough profit (in equilibrium), a. it will lower price thereby increasing total revenue because demand is elastic. b. it will raise price thereby increasing total revenue because demand is inelastic. c. it will exit the industry in the long run if economic profit is negative. d. it will expand sales until it reaches the unit elastic point on demand.
If a firm with market power is not making enough profit (in equilibrium), .it will expand sales until it reaches the unit elastic point on demand.
Due to its dominant position in the market, the company is able to set either its output level or its price. When the demand elasticity is 1 (or "unit elastic"), any revenue loss brought on by a decline in demand will be made up for by an increase in price, and vice versa. As a result, profit will be as high as possible.
If economic profit is negative, the firm with market dominance will never be able to sustain a long-term profit.
The elasticity of Demand:
The quantity reaction to a change in price is what economists refer to as the elasticity of demand. The coefficient of elasticity is greater than 1 in the presence of elastic demand. The coefficient of elasticity is less than 1 if the demand is inelastic. When the coefficient is exactly equal to 1, this is referred to as unit elasticity.
Hence, Option D is the correct answer.
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who is at greater risk of shortened telomeres? chase, an extreme sports athlete marcus, an overly optimistic dreamer tito, who drinks soda rather than coffee pepe, a ph.d. in behavioral economics
The correct option is Tito, who drinks soda rather than coffee. He is at a greater risk of shortened telomeres.
At the termination of linear chromosomes, a region of repeating nucleotide sequences known as a telomere is connected to specific proteins. Even though they can have various architectural forms, telomeres are a prevalent genetic trait that is most frequently found in eukaryotes. They safeguard the stability of linear chromosomes by stopping DNA repair mechanisms from misinterpreting the very endpoints of the DNA strand as a double strand break, and they protect the terminal sections of chromosomal DNA from gradual degradation in the majority, if not all, organisms bearing them.
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Wallace has decided that he wants to move on from his entrepreneurial business and take his financial profits from his hard work. This is an example of ________.
Wallace has decided that he wants to move on from his entrepreneurial business and take his financial profits from his hard work. This is an example of Social entrepreneur.
What is Social entrepreneur?
An entrepreneur that creates social initiatives, such as charities, for-profit companies with social missions, and other non-governmental organizations, strives to build up social capital is known as a social entrepreneur.
The process by which individuals, businesses, and entrepreneurs create and finance solutions that directly address social challenges is known as social entrepreneurship. Therefore, a social entrepreneur is someone who looks into business prospects that benefit their neighborhood, society, or the entire planet.
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steven consumes only two goods, both of which are normal goods. he is maximizing his utility in consumption of both goods. now assume the price of one of the goods falls. how should steven adjust his consumption after the change in price?
Steve should consume more of the item whose price has decreased and less of the item whose price has not changed.
The income effect and the substitution effect both work in the same direction for normal goods; a decrease in the relative price of the good will increase quantity demanded because the good is now cheaper than substitute goods and because the lower price means that consumers have more total purchasing power.
In general, when the price of one good falls, the demand for another rises, and the two goods are referred to as complements.When the price of one good falls, the demand for another falls, and the two goods are referred to as substitutes.
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land is purchased for $209,000. additional costs include a $14,400 fee to a broker, a survey fee of $2,400, $2,200 to construct a fence, and a legal fee of $9,400. what is the cost of the land?
The total cost of land is $209,000 + $14,400 + $2,400 +$2,200+$9,400 that is $237,400 .
What is legal fee ?
Legal expenses are considered nominal accounting since they are considered an indirect cost of doing company.
How is legal fees calculated ?
The amount of time spent on your issue, the lawyer's skill, expertise, and reputation, the uniqueness and complexity of the case, the outcomes, and the associated costs are just a few of the variables that affect legal fees.
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the average fixed cost (afc) curve group of answer choices is u-shaped as a result of diminishing returns. declines as long as output increases. is intersected at its minimum point by marginal cost. intersects the marginal cost curve at its minimum point.
The economies are outweighed by the diseconomies after the point of maximum output, which causes the AC curve to rise. The result is a U-shaped AC curve.
How is the AFC average fixed cost curve shaped?
A rectangular hyperbola could be used to describe the average fixed cost (AFC) curve. It occurs as a result of the fixed cost being divided by rising output. As a result, the AFC curve slopes downward and is a rectangular hyperbola, meaning that the area beneath the curve is constant throughout.
The average fixed cost is L-shaped; why?
The typical fixed expenses Because fixed expenses are spread out over a broader area as production volume grows, the AFC curve slopes downward. The vertical difference between ATC and AVC is equivalent to AFC. The other cost curves' U-shape is explained by variable returns to scale.
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jenna's company exports tea to various markets around the world. in the past six months, the company has focused on developing new flavors and was surprised to learn that a competitor gained market share by expanding into four new foreign countries. which part of a product-market did jenna's company fail to take into account?
Startup advisor and investor Marc Andreessen defines "product-market fit" as being in a healthy market with a product that can meet that market's needs.
Which four types of market segmentation are there?
The four primary categories of market segmentation are thought to be geographic, psychographic, behavioral, and demographic; however, there are many other tactics you can employ, as well as countless variants on the four primary types.
What therefore are the prerequisites for successful market segmentation?
Measurable, accessible, substantial, differentiable, and actionable segmentation is required for success. A business has a better chance of long-term success and increased profitability when it has appropriately segmented its market.
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the file smartphone contains data on the monthly sales revenue for a smartphone manufacturer. click on the datafile logo to reference the data. create line charts to depict the sales time series at the annual level, the quarterly level, and the monthly level. what insight do each of these three views provide?
When data needs to be transformed to match the target system's requirements, data transformation is utilised.
Data transformation, in computing, is the process of changing data from one format or structure into another format or structure so that it may be used, cleaned up, and organised into a format that can be analysed to assist decision-making processes and to fuel the growth of a business. It is a crucial component of the majority of data management and integration jobs, including application integration, data wrangling, data warehousing, and data integration.
Depending on the required modifications to the data between the source (initial data) and the destination (final data), data transformation can be straightforward or difficult. The process of transforming data typically involves both manual and automated steps.
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Which of the following is true regarding states that have adopted the reasonably foreseeable users test for accountant liability to
third parties?
The reasonably foreseeable users test holds an accountant liable to any third-party who was or should have been foreseen as a possible user of the accountant's work product and did, in fact, use and rely upon that work product for a proper business purpose.
What is accountant?By gathering, monitoring, and making necessary corrections to the company's finances, an accountant assists organisations in making important financial decisions. Financial audits, bank statement reconciliation, and ensuring that financial records are accurate all year long are under their purview.
Account analysis, auditing, and financial statement analysis are examples of professional accounting duties carried out by accountants. Accountants can work for an accounting firm, a sizable business with an internal accounting division, or they can open their own practise.
These four areas of accounting are forensic, corporate, public, and governmental. For any accounting employment, an undergraduate degree is typically a requirement, however prior master's work—especially in the accounting field—is frequently greatly encouraged.
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bard enterprises offered a customer a note for extended payment on november 1, 2018. the $8,000 note was for 6 months at 5%. bard enterprises has a december 31 year end and must accrue interest on that date. how much interest has accrued on the note receivable on december 31, 2018?
Interest accrued on the note receivable on December 31, 2018, is $ 400.
Interest = (Principal × Rate × Number of months )/(100 ×12)
= (8,000 × 5 × 6 )/(100× 12)
= (240,000 )/( 1200)
= $ 200 (Interest for 1 month)
So, Interest for 2 months (from November 1 to December 31)
= $ 200 ×2
= $ 400 (Answer)
1. Accounts receivable are credited and notes receivable are debited when notes receivable are extended for payment.
2. On December 31st, $400 is deducted from interest Receivable and credited to interest Income for accrued interest.
3. Accrued interest must be recorded in accrual accounting.
Interest is the fee you pay to borrow money or the fee you charge to lend money. Interest is often expressed as an annual percentage of the borrowed amount. This percentage represents the loan's interest rate.
Interest is the amount paid over and above the original amount to a lender or depositor by a borrower or deposit-taking financial institution at a predetermined rate in the domains of finance and economics (the amount borrowed). It differs from any fees the borrower may be required to pay to the lender or another party.
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outline 2 advantages to H&H of using secondary market research
which are characteristics of clan culture? (choose every correct answer.) multiple select question. promotes a feeling of family structures work environment to aim at effectiveness and efficiency encourages collaboration among employees emphasizes profits over employee development and satisfaction
A feeling of family structure work environment to aim at effectiveness and efficiency is characteristic of clan culture. The correct option is A.
What is the disadvantage of clan culture?Disadvantages of Clan Culture because members don't want outsiders in their group, people believe clan culture organizations are exclusive and cliquish. Instead of diversifying and utilizing a range of skills from other members of the company, they rely too heavily on one another. It might appear exclusive as a result.
Clan cultures emphasize consensus and shared aims and values in a familial or tribal style of work setting. The four primary corporate culture models are divided into clan cultures, which are the most collaborative and least competitive.
Thus, the ideal option is A.
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the most typical objective for promotion is to multiple choice increase demand for a product. inform customers of new product offerings. remind consumers of a product benefit. avoid having to use a push strategy. stabilize sales.
The most typical objective of promotion is to inform the customers about new product offering. So, the correct answer is (b).
The use of promotion as a marketing technique helps both suppliers and buyers communicate among themselves. Through this, the vendor attempts to persuade and convince customers to buy their products or services. It helps to inform consumers about the company, its products, and its service. Promotion strategy is used by the organization to boost its credibility. This marketing plan titillates consumers' curiosity and has the possibility of converting them into committed clients.
Promotion is one of four Ps of marketing such as product, price, promotion and place. Promotion is one of the most important activities carried out by all the organization, because without doing it they will not be able to inform the customers about their new offerings.
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north safety products manufactures butyl gloves that offer permeation resistance to gas or water vapor for workers who use dangerous chemicals like ketones. the company has fixed costs of $12 million for its butyl glove production and unit variable costs of $3 per pair. if the company charges $7 per pair, how many pairs of gloves must it sell to break even? multiple choice 120,000 pairs 400,000 pairs 666,667 pairs 1,000,000 pairs 3,000,000 pairs
North safety products will manufacture 3,000,000 pairs at break-even sales, so the correct option is (e).
Given information:
fixed cost = $12 million = $12,000,000
Unit variable costs = $3 per pair
Charge per unit = $7 per pair
Break -even sales = fixed cost/ (price minus -unit variable cost)
Break- even sales = $12,000,000/ (7-3)
= 3,00,000 pairs
The revenue level at which a company produces no profit is defined as break -even sales. These sales figure actually covers all of the variable expenses related to the sales as well as the company's business fundamental fixed costs. Understanding the break- even sales level gives the manager a benchmark for the lowest volume of sales that must be produced throughout every reporting period to prevent losses. For instance, the break -even level can be utilized to reduce expenditures to meet the projected level of future sales if a company slump is predicted.
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