At January 1, 2022, Ivanhoe Company reported the following property, plant, and equipment accounts:
Accumulated depreciation—buildings $61,800,000
Accumulated depreciation—equipment 53,200,000
Buildings 97,600,000
Equipment 150,900,000
Land 21,000,000
The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries annually. The buildings are estimated to have a 40-year useful life and no salvage value; the equipment is estimated to have a 10-year useful life and no salvage value. During 2022, the following selected transactions occurred:
Apr. 1 Purchased land for $4.00 million. Paid $1.000 million cash and issued a
3-year, 6% note payable for the balance. Interest on the note is payable
annually each April 1.
May 1 Sold equipment for $270,000 cash. The equipment cost $3.90 million
when originally purchased on January 1, 2014.
June 1 Sold land for $4.20 million. Received $690,000 cash and accepted a 3
-year, 5% note for the balance. The land cost $1.40 million when purchased
on June 1, 2016. Interest on the note is due annually each June 1.
July 1 Purchased equipment for $2.80 million cash.
Dec. 31 Retired equipment that cost $1 million when purchased on December 31,
2012. No proceeds were received.
Required:
1. Record any adjusting entries for depreciation required at December 31. (Credit account titles are automatically indented when the an manually.
2. Prepare the property, plant, and equipment section of the company's statement of financial position at December 31.
Answer:
B
Explanation:
The company uses straight-line depreciation for buildings and equipment, its year-end is December 31, and it makes adjusting entries annually.
2
3
6
Compare and contrast mediation with arbitration.
Answer:
See below
Explanation:
Both mediation and arbitration are dispute resolution mechanisms. They make use of an independent third party to help resolve the conflict. Mediation and arbitration are a private affair between the independent third party and the conflicting parties.
In an arbitration, the arbitrator considers the evidence presented by each of the conflicting parties. They weigh in the legal aspects before making a binding decision. Arbitration is like a court case, except that the process takes place outside a courtroom. There is a winning and a losing party in an arbitration.
Mediation helps parties to settle their disputes through discussions, negotiations, and narrowing differences. The mediator helps conflicting parties to arrive at an agreed solution. They do not decide on the conflicting issue. In mediation, all parties agree on a win-win solution.
How do credit card companies make money?
O (A) Fees and interest paid by cardholders
O (B) Investing your credit card debt
O (C) Fees paid by merchants
O All of them
O A and B
O A and C
OB and C
Answer:
A and C
Explanation:
Credit card companies get their income form the following three main sources
Interest paid by cardholdersFees charged to cardholders' credit cards.transaction charges paid by merchants who accept credit cardsInterests form the bulk of income to the card companies. Typically charge interest arises when customers carry a balance from a month to the next. Fees charged include annual fees, late fees, cash advance fees, balance transaction fees, among others. Merchants usually pay a percentage for every transaction conducted via a credit card. The percentage ranges between 1% to 3 %.
Which type of worker would most likely be able to begin work after receiving a high school degree and completing
an on-the-job apprenticeship?
A. a miner
B. a forester
C. a conservationist
D. a park worker
Esther estimates that she will need about $8,600.00 for the first year of tuition at college. Her grandparents contribution will cover $3,010.00 of the tuition expenses, and Esther will need to save to pay for the rest. If Esther has 2 years to save, what is the minimum amount that she should save each month for the next 2 years? Be sure to round your answer to the hundreths place value and answer in a complete statement.
Answer:
$232.92
Explanation:
Since Esther's parents have contributed a total of $3,010 to her tuition then Esther would need a total of
$8,600 - $3,010 = $5,590
Since there are a total of 24 months in a span of 2 years, then we would need to divide the total amount of money that Esther needs by these 24 months to calculate the minimum amount that she needs to save each month to reach her goal. Like so...
$5,590 / 24 = 232.916
Therefore, we can see that Esther would need to save a minimum of $232.92 every single month to be able to hit her goal of $5,590 in 2 years.
reasons for a business to lower its prices?
Esperanza is starting a business by herself as an
illustrator for magazines and children's books. She
isn't concerned with personal liability, but she wants
the business to be easy to set up.
Answer:
sole proprietorship
Explanation:
The sole proprietorship is the type of business owned and run by a single individual. The owner is a sole trader. In a sole proprietorship, the owner sources capital by themselves, keeps all the profits, and suffers the losses alone.
A sole proprietorship is the easiest form of business to set up. The only requires to obtain a registration certificate and a trading license from the local authorities. Esperanza should open a sole proprietorship business. Unlimited liability is the biggest shortcoming for a sole proprietorship, but that does not seem to bother Esperanza.
Becky makes $8.75 an hour plus benefits, which are an additional 13.5%.
How much does Becky make per hour including benefits? *
$9.20
$
O $9.95
O $9.93
O $8.88
Answer:
$9.93
Explanation:
Becky makes $8.75, the benefits are 13.5 % of $8.75.
Including benefits, Becky makes
=8.75 + ( 13.5 /100 x $8.75)
=$8.75 (0.135 x $8.75)
=$8.75 + $1. 18125
=$9.93125
=$9.93
Larry works 60 hours a week as a valet. If full-time employment is considered 40 hours per week, how many hours of overtime does Larry work?
Answer:
20 hours overtime
Explanation:
If Larry works 60 hours, take 40 hours out of that to get 20 hours which would be how much he works overtime.
careers with adverse working conditions often demand higher wages. Adverse working conditions might include
irregular work schedule
decision making
uncomfortable environment
required experience
Answer:
uncomfortable environment
Explanation:
Adverse working conditions create challenges for employees as they execute their mandate. These conditions may result from extreme weather, either very hot such, extremely cold, floods, snow, or windy. Adverse conditions could also refer to security concerns in place of work.
Political unrest, high crime rate, and civil wars create adverse conditions. The nature of work can also make working a challenge. Miners working many feet underground or soldiers on a battlefield are examples of challenges due to work.
Answer:
C) uncomfortable environment
Explanation:
11. What does a bank use to make loans? *
12. What is an action by the Fed that would promote an expansionary policy?
13. What is an action by the Fed that would promote a contractionary policy
Explanation:
11.
Banks use depositors' money to make loans
12.
A central bank, such as the Federal Reserve in the U.S., will use expansionary monetary to strengthen an economy.
13.
Contractionary policies are macroeconomic tools designed to combat economic distortions caused by an overheating economy.
Retirement benefits are an example of
income.
Labor
rental
interest
Answer:
Labor income
Explanation:
edg
A physician has been practicing medicine for forty years. Within the last fifteen years, he has shifted from handwriting all of his cases to inputting information into his electronic medical record. This is an example of the importance of
1.career portfolios.
2.credentialing.
3.life-long learning.
4.licensure.
P:EASE HELP ME AND QUICCK ILL GIVE YOU THE BRAINIEST CROWN THINGY>>>PLEASE HELPPP
Answer:
3.life-long learning.
Explanation:
Credit cards can help _____________ when paid off on time regularly.
Answer:
lower your debt
Explanation:
Credit cards can help to lower debt when paid off on time regularly.
What is Credit card?A credit card is a sort of credit facility offered by banks that allows clients to borrow monies up to a pre-determined credit limit. It allows customers to make purchases of products and services. When using a credit card, you must make at least the minimum payment each month by the balance's due date.
Paying it down on time might help to boost the credit. People who do not have much credit history may have difficulty obtaining a beginning card. A card with a lower credit score may be appropriate in some instances, but for many people, a secured card is a better alternative.
The lower credit usage, the smaller credit card balance. Paying your credit card debt on time and consistently might enhance your credit score.
As a result, if credit score improves, you may be able to qualify for lower interest rates and other loans, such as mortgages.
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When should the trial balance totals differ?
A. Only when it is drawn up by the accountant
B. When drawn up before the profit and loss account is prepared
C. If drawn up halfway through the financial year
D. Never
Answer:
C. If drawn up halfway through the financial year
Explanation:
A business prepares a trial balance to check on the accuracy of the double-entry system. The trial balance detects any mathematical errors that may have occurred during recording or posting information in various accounts.
A trial balance lists all the accounts as obtained from a firm's general ledger. It sums up the closing balances of all debits on one column and credits on the other. If the debits and credits balance, the firm's ledger book is presumed not to have mathematical errors.
The preparation of a trial balance is at the end of a financial period, before the main financial statements. It uses the closing balances of the ledger accounts. If some accounts are not closed, then a trial balance will not balance.
ANSWER THIS AND ILL CASH APP YOU !! ( has to be at least 2000 words and make sense)
Imagine you are an executive for a Fortune 500 company and you are preparing a presentation for the board of directors about the organization’s direction. Choose an organization that is a public company to write this assignment.
There is no shortage of schools for businesspeople of every specialty: accountants, engineers, financiers, technologists, information specialists, marketers, and, of course, general managers, who have their choice of hundreds, if not thousands, of M.B.A. programs. But where is the school for the person in charge of getting the best results from all these members of the organization? There is no school for CEOs—except the school of experience. Chief executives must learn on the job how to lead a company, and they must learn while every stakeholder is watching.
The CEO’s job is like no other in the organization. It is infinite. Senior executives are, by definition, ultimately responsible for every decision and action of every member of the company, including those decisions and actions of which they are not aware. CEOs—even new ones—are allowed few mistakes. Not surprisingly, research shows that between 35% and 50% of all CEOs are replaced within five years. That is a costly proposition for any organization, for no company can lose its leader without losing some sense, even temporarily, of its identity and direction.
Two years ago, our interest in the role of the CEO prompted us to begin an extensive study of how senior executives lead. Over 12 months, we interviewed 160 chief executives around the world, most of whom were running major corporations in industries as diverse as gold mining, computers, and soft drinks. Our goal was to examine the set of attitudes, activities, and behaviors that determined how those executives managed their organizations. To be honest, going into the project we hypothesized that there might turn out to be 160 different approaches to leadership. There were not. Only 5 distinct approaches emerged from our data.
No matter where a company is located or what it makes, its CEO must develop a guiding, over-arching philosophy about how he or she can best add value. This philosophy determines the CEO’s approach to leadership. By approach, we mean which areas of corporate policy—for example, strategic planning, R&D, or recruiting—receive the most attention, what kind of people and behaviors the CEO values in the organization, which decisions the CEO makes personally or delegates, and how he or she spends each day. A leadership approach is a coherent, explicit style of management, not a reflection of personal style. This is a critical distinction. (See the sidebar “What’s Personality Got to Do with It?”) We found that in effective companies, CEOs do not simply adopt the leadership approach that suits their personalities but instead adopt the approach that will best meet the needs of the organization and the business situation at hand. Is the industry growing explosively or is it mature? How many competitors exist and how strong are they? Does technology matter and, if so, where is it going? What are the organization’s capital and human assets? What constitutes sustainable competitive advantage, and how close is the organization to achieving it? The answers to questions such as these determine which of the following five leadership approaches an effective CEO will adopt.
1. The Strategy Approach.
CEOs who use this approach believe that their most important job is to create, test, and design the implementation of long-term strategy, extending in some cases into the distant future. Their position overseeing all areas of the corporation, they explain, gives them the unique ability to determine their organizations’ allocation of resources and optimal direction. On a day-to-day basis, they spend their time in activities intended to ascertain their organizations’ point of departure (the current business situation) and point of arrival (the most advantageous market position in the future). These CEOs devote approximately 80% of their time to matters external to the organization’s operations—customers, competitors, technological advances, and market trends—as opposed to internal matters such as hiring or control systems. It follows, then, that they tend to value employees to whom they can delegate the day-to-day operation of their organizations as well as those who possess finely tuned analytical and planning skills.
2. The Human-Assets Approach.
In marked contrast to CEOs in the above group, human-assets CEOs strongly believe that strategy formulation belongs close to the markets, in the business units. According to these CEOs, their primary job is to impart to their organizations certain values, behaviors, and attitudes by closely managing the growth and development of individuals. These executives travel constantly, spending the majority of their time in personnel-related activities such as recruiting, performance reviews, and career mapping. Their goal is to create a universe of satellite CEOs: people at every level of the organization who act and make decisions as the CEO would.
Choose a company of your choice
Accounting information systems: Multiple Choice require a CITP designation to understand. report only financially related information. are always computerized. are an information system that records, processes, and reports on transactions to provide financial and nonfinancial information for decision making and control.
Answer: Are an information system that records, processes, and reports on transactions to provide financial and nonfinancial information for decision making and control.
Explanation:
Accounting information systems are very useful because they combine accounting records with processes thereby coming up with reports on transactions that provide relevant stakeholders with both financial and non-financial information needed for decision making and control.
Accounting systems do not require a Certified International Trade Professional (CITP) designation to understand neither does it report only financially related information nor is it always computerized.
The equation Assets = Liabilities + Owner's Equity is called the
Answer:
Accounting Equation
Explanation:
The accounting equation forms the basis of preparing a balance sheet and the double-entry accounting concept.
The accounting equation is presented as Assets = Liabilities + Shareholder’s Equity. The balance sheet presentation follows this concept. It is divided into three segments, assets, liabilities, and equity.
The double entry concepts will record entries affecting assets in the same manner. Those affecting liabilities and equity are recorded similarly. The entries of assets balance the entries of equity and liabilities.
In 2022, Spencer Realty considered conducting a survey of every home to determine which homes may be put on the market within the next year. This information would be included in their financial statements as a predictor of potential future revenue. The cost of the survey would be $2.6 million, and the results would not differentiate potential business for Spencer Realty compared to other realtor companies. If Spencer Realty decided to not conduct the survey, that decision is likely based on which concep?
A. Historical cost.
B. Cost constraint.
C. Fair value.
D. Full discloser.
Answer:
a. cost constraint
Explanation:
A cost constraint arises when it is excessively expensive to report certain information in the financial statements. When it is too expensive to do so, the applicable accounting frameworks allow a reporting entity to avoid the related reporting
Write any two ways of collecting rain water and its advantages.
Answer:
Harvesting rainwater can help the environment in a number of ways. ...
Reduces Water Bills. ...
Reduces Demand on Ground Water. ...
Can Be Used for Non-drinking Purposes
HURRY !! The information given to you by your teachers is always accurate and should never be questioned.
TRUE or FALSE
Answer:
Fasle
Explanation:
No one is perfect
According to the video, what do Financial Analysts analyze? Check all that apply.
financial records
travel distances
insurance claims
a company's competitors
fraud
Information of goods and services of solo factory in Trinidad
Answer:
What's your question? I'll answer in the comments of this answer if you can give me the rest of the question :)
Explanation:
Suppose you are given a $100 gift card and you choose" to spend it on a number of goods. You will select a combination of goods that is best for you and that maximizes your satisfaction. Your choices will involve which of the following?
A. A decision between attainable and unattainable combinations of the goods under consideration.
B. The available supply of each good considered.
C. A comparison of marginal benefits and marginal costs for each good considered.
D. An evaluation of the unlimited resources used in the production of each good considered.
Answer:
C. A comparison of marginal benefits and marginal costs for each good considered.
Explanation:
When a consumer wants to maximise satisfaction he puts into consideration the benefits he will gain by making a purchase.
Only when the benefits exceed the marginal cost of getting the product will this be a choice that maximises satisfaction.
In the given scenario you are given a $100 gift card and you choose to spend it on a number of goods. You will select a combination of goods that is best for you and that maximizes your satisfaction.
To do this ensure that marginal benefit exceeds marginal cost
A gift is about $100 card
The amount is spend on the number of goods. Thus answer is they show a marginal benefit an cost.
These are combination of the goods that will involve the comparison of marginal benefits and the costs for each of the items.Hence the option C is correct.As consumer wants to maximize the satisfaction he puts into the consideration the benefits he will gain by making a purchase.Learn more about the given gift of $100.
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The intangible assets section of Marigold Corporation's balance sheet at December 31, 2022, is presented here.
Patents ($71,800 cost less $7,180 amortization) $63,400
Copyrights ($50,500 cost less $39,400 amortization) 11,100
Total $74,500
The patent was acquired in January 2022 and has a useful life of 10 years. The copyright was acquired in January 2016 and also has a useful life of 10 years. The following cash transactions may have affected intangible assets during 2023.
Jan. 2 Paid $45,000 legal costs to successfully defend the patent against infringement by another company.
Jan.- June Paid $43,000 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October.
Sept. 1 Paid $43,000 to a quarterback to appear in commercials advertising the company's products. The commercials will air in September and October.
Oct. 1 Acquired a copyright for $257,000. The copyright has a useful life and legal life of 50 years.
Prepare journal entries to record the 2023 amortization expense for intangible assets.
Answer:
Journal entries to record the 2023 amortization expense for intangible assets.
Date Accounts Titles and Explanation Debit Credit
Dec 31 Amortization Expense—Patents $14,180
($71,800*1/10 + $45,000 * 1/9
+ $40,000*1/10*6/12)
Patents $14,180
(To record amortization of patents)
Dec 31 Amortization Expense - Copyrights $6,335
($50,500*1/10 + $257,000*1/50*3/12)
Copyright $6,335
(To record amortization of copyrights)
A Michigan State University student spends his summer months in his hometown, where he works for a local micro-brewery during the evening hours. In the late morning, he attends the local community college, where he takes a summer course that he knows will transfer back to MSU. Although he finds the courses just as challenging as his regular university, he does not worry about his summer grades affecting his 3.2 (out of 4.0) grade point average, because MSU only accepts the transfer credits. As long as he receives C grade or better, he maintains his current grade point average. Which of the following theories suggests that the student will only work as hard as necessary to earn a "C" grade?A) Expectancy TheoryB) Objective-setting TheoryC) Equity TheoryD) Maslow’s Theory
Answer: Expectancy theory
Explanation:
The theory that suggests that the student will only work as hard as necessary to earn a "C" grade is the expectancy theory.
Expectancy theory states that an individual will act in a particular way due to the fact of what they believe will be the result of the behavior that they selected and thereby will select a particular behavior above orhers.
Here, the student simply selects his work above the school grade because he believes that a C is enough for him. Therefore, the answer will be expectancy theory.
Some organizations may choose to have job applicants complete an application form created by the firm, instead of just allowing the employee to write his own. Give ONE (1) key reason why
the firm may prefer to have an application form completed.
Answer:
see below
Explanation:
Job applicants complete an application form created by the employer to gather relevant information from potential employees. One reason employers prefer Job application forms is to gather comprehensive and consistent data from all applicants. This facilitates a fair analysis of applicants' backgrounds.
Application letters and resumes may not have uniform data. The employer designs the application form to ensure they get all the data they require from all applicants. Again, resume's do not include important information such as names and contacts of immediate and past supervisors.
Why do lenders often require a down payment when credit is used to purchase a good?
Answer:
see below
Explanation:
A down payment is a lump-sum amount paid a borrower raises when purchasing an asset on credit. The down payment or deposit is paid to the lender and reduces the credit to be extended. Usually, the lender will demand a down payment of up to 20% of the asset's value.
The down payment reduces the risk a lender takes in advancing the loan to the borrower. It reduces the loan amount involved. The down payment shows the borrower is financially stable. If they can raise 20 percent of the amount, it gives the lender confidence that the borrower can repay the loan. A down payment shows the borrower is a low-risk customer
does anybody know how to make a legit website from scratch and for free?
if you have a business and have made a website using a free online web builder let me know what site you used and some tips.
- thanks
Answer:
Wix
Explanation:
I once made a website for free on Wix. However, the url was long and was the email that I used. If you do use wix, create an email with what you want your email to be. I hope this helps you out.
when you should send an email
A. when the subject matter is extremely private
B.when the subject matter is objective and informative
C. when the subject matter is emotional
D. when the subject matter is sensitive in nature
B. When the subject matter is objective and informative
You should send an email when the subject matter is objective and informative. Hence, Option B. is correct.
Email is a fantastic manner to communicate when the subject matter is objective and informative. A way to communicate between people using the internet and electronic gadgets is via email. Because emails are a fantastic method to discuss and highlight vital information without containing a personal opinion, which is especially critical in a business context, you should send an email when the subject matter is objective and instructive.
Therefore, the correct option is option B.
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