The journal entries for the June transactions by Aracel Engineering are as follows:
Journal Entries:Debit Cash $150,000
Debit Office Equipment $9,700
Debit Drafting Equipment $80,000
Credit Common Stock $239,700
Debit Land $58,000 Csh $7,600
Credit Note Payable $50,400
Debit Building $57,000
Credit Cash $57,000
Debit Prepaid Insurance $2,000
Credit Cash $2,000
Debit Cash $6,200
Credit Service Revenue $6,200
Debit Drafting Equipment $28,000
Credit Cash $11,800
Credit Note Payable $16,200
Debit Accounts Receivable $19,500
Credit Service Revenue $19,500
Debit Office Equipment $1,300
Credit Accounts Payable $1,300
Debit Accounts Receivable $22,000
Credit Service Revenue $22,000
Debit Advertising Expense $1,328
Credit Accounts Payable $1,328
Debit Cash $6,000
Credit Accounts Receivable $6,000
Debit Wages expense $1,700
Credit Cash $1,700
Debit Accounts Payable $1,328
Credit Cash $1,300
Credit Cash Discounts $28
Debit Repairs Expense $955
Credit Cash $955
Debit Dividend $9,670
Credit Cash $9,670
Debit Wages expense $1,300
Credit Cash $1,300
Debit Advertising expense $4,200
Credit Cash $4,200
Transaction Analysis:Cash $150,000 Office Equipment $9,700 Drafting Equipment $80,000 Common Stock $239,700
Land $58,000 Csh $7,600 Note Payable $50,400
Building $57,000 Cash $57,000
Prepaid Insurance $2,000 Cash $2,000
Cash $6,200 Service Revenue $6,200
Drafting Equipment $28,000 Cash $11,800 Note Payable $16,200
Accounts Receivable $19,500 Service Revenue $19,500
Office Equipment $1,300 Accounts Payable $1,300
Accounts Receivable $22,000 Service Revenue $22,000
Advertising Expense $1,328 Accounts Payable $1,328
Cash $6,000 Accounts Receivable $6,000
Wages expense $1,700 Cash $1,700
Accounts Payable $1,300 Cash $1,300 Cash Discounts $28
Repairs Expense $955 Cash $955
Dividend $9,670 Cash $9,670
Wages expense $1,300 Cash $1,300
Advertising expense $4,200 Cash $4,200
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Question Completion:Journalize the transactions
Outline one proactive step the Meanwells might take to reduce the price sensitivity of their bus service so they can increase the price charged?
Answer:
i need help with this too:( also merry early christmas
Explanation:
The total cost of producing a given level of output is:____.
a. minimized when marginal product multiplied by input price is equal for all inputs.
b. minimized when the marginal products of all inputs are equal.
c. maximized when a corner solution exists.
d. minimized when the ratio of marginal product to input price is equal for all inputs.
Answer:
The total cost of producing a given level of output is:____.
d. minimized when the ratio of marginal product to input price is equal for all inputs.
Explanation:
With the above situation, the marginal cost (input price) = the marginal revenue (marginal product). The producer can then maximize profit if it can lower its average total cost per unit below the marginal cost for producing one additional unit of its product. In all cost situations, it is better for the producer to have the total revenue exceeding the total costs, at all times, but more especially with increasing production.
Watson Corporation is considering buying a machine for $25,000. Its estimated useful life is 5 years, with no salvage value. Watson anticipates annual net income after taxes of $1,500 from the new machine. What is the accounting rate of return assuming that Watson uses straight-line depreciation and that income is earned uniformly throughout each year
Answer:
12%
Explanation:
Accounting rate of return = Average net income / Average book value
Average book value = (Cost of equipment - salvage value) / 2
Average book value = ($25,000 - 0) / 2 = $12,500
AAR = $1500 / $12,500 = 0.12 = 12%
What is persecution
Answer:
: to harass or punish in a manner designed to injure, grieve, or afflict specifically : to cause to suffer because of belief.
Explanation:
Chang Industries has 2,200 defective units of product that already cost $18 each to produce. A salvage company will purchase the defective units as is for $7 each. Chang's production manager reports that the defects can be corrected for $10 per unit, enabling them to be sold at their regular market price of $23. The $18 per unit is a:
Answer:
The $18 per unit is a:
sunk cost.
Explanation:
Chang's cost incurred per unit of $18 is a sunk cost. A sunk cost is a cost that has already been incurred. It does not make a difference in a future decision. This implies the Chang may decide to correct the defect or otherwise. What decision it takes should be based on the cost and revenue that results from the next decision, and not the past decision.
What does reconciling an account involve? checking one's financial records against the bank’s making sure a paycheck arrives on time calculating the interest owed on a savings account identifying instances of identity theft
Answer:
checking one's financial records against the bank’s
Explanation:
Reconciling an account is the regular confirmation that the reported balances are accurate. It involves checking one's account against bank balances to ensure the figures are tallying. Reconciling may require making adjustments to capture omitted transactions and charges. In practice, reconciliation involves comparing one financial records against the bank statement.
Answer:
checking one's financial records against the bank’s
Explanation:
If a student from science class asked to borrow $200 and promised to repay you in 5 months, would you lend it to him?
Answer:
No
Explanation:
Because they most likely would not remember about the money so you're giving your money for nothing
No, If a student from science class asked to borrow $200 and promised to repay you in 5 months, you lend it to him.
What is the rule about lending money?It is acceptable to lend money, and when you do, the borrower is obligated by law to repay the debt. If your borrower defaults on a lesser loan, you can file a small claims lawsuit against them. Although this could come across as harsh, it's crucial to comprehend it right away.
However, whether or not to lend money to someone is a personal decision that depends on various factors such as the relationship with the person, their track record of repaying debts, and one's own financial situation. It is important to carefully consider all factors before making a decision to lend money to someone.
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Jack is a self-employed contractor. He uses his Ford F250 in his business. He does not have another vehicle for personal use. He wants to
claim the standard mileage rate for the business use of his pick-up. To do so he must keep records of the following, except:
Choose one answer a. Total mileage during the year
b. Cost of insurance for the pick-up.
c. Business mileage during the year
d. Commuting mileage during the year
For Jack to claim the standard mileage rate for the business use of his pick-up, he is not expected to keep the records of b. Cost of insurance for the pick-up.
Instead, Jack must record the total, business, and commuting mileage for the year. He does not need to record the cost of insurance to claim the standard mileage rate.
Thus, Jack can claim the standard mileage rate for the business use of his pick-up without the record of the cost of insurance.
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Alba wants to learn how to grow orchids and looks online for a podcast that discusses the correct variety, soil mixture, amount of light needed, and how often to water the plants. This is an example of content marketing because
Answer: it includes media such as videos, podcasts, webinars and blog posts.
Explanation:
Content marketing is a marketing approach that is used by businesses or organizations to give valuable information and content to the customers or a particular audience.
Content marketing includes e-books, blog posts, podcasts, educational articles, videos, and webinars. Content marketing helps in answering certain questions and also give the audience something different that they can't get somewhere else.
When the allowance method is used for bad debts, the entry to write off an individual account known to be uncollectible involves a
Answer:
debit to the Allowance account.
Explanation:
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).
IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globally.
According to the Generally Accepted Accounting Principles (GAAP), when the allowance method is used for bad debts, the entry to write off an individual account known to be uncollectible involves a debit to the allowance account.
A price tactic that requires the purchaser to bear the freight cost from the shipping point is called
Answer:
The appropriate approach is "FOB origin pricing".
Explanation:
Above mentioned pricing strategy seems to be socioeconomic pricing during which the commodities were mostly positioned cheap or discounted on the platform the manufacturer or company. Throughout this particular instance, that the farther the consumers seem to be from the retailers, the further individuals charge, so even though the export prices recommendation system with either the length goods being shipped.The yield to maturity will be greater than the coupon rate when a bond is selling at a premium. true/false
Answer: False
Explanation:
When a bond is selling at a price that is above the Par value, it is said that the bond is selling at a Premium. This happens when the Coupon rate is higher than the Yield to Maturity.
The logic here is that the bond will be paying out more as coupon payments than the current yields in the market so it is a more attractive option that will command a higher price.
If the market interest rate is 6%, a $10,000, 7%, 5-year bond, that pays interest semiannually would sell at an amount:
a. greater than face value.
b. less than face value.
c. less than the maturity value.
d. equal to face value.
Answer:
a. greater than face value
Explanation:
If the coupon rate of the bond is greater than its yield to maturity or market interest rate, the bond would sell at an amount greater than face value.
_______ is not considered to be a "developing" nation. A. Brazil B. India C. China D. Japan E. Mexico
Answer:
A. Brazil
Explanation:
Tom prepares an elaborate financial plan and tries sticking to it very strictly. He is concerned about eventualities that might occur in the future and disturb his plan. What practice can help him prepare for any problems with his plan?
Answer:
Tom should review and revise his plan on a regular basis, e.g. once a year or once every 6 months. A financial plan is a budget, and like all budgets, it represents an estimate or forecast of future events. If any person was able to predict the future and be 100% right every time, they would play the lottery and earn millions every week. The future is always uncertain, and just like a company must review and revise their forecasts, so should Tom. This advice applies to all of us that try to stick to some type of financial plan.
What is it about incentive systems that makes them so attractive to leaders attempting to implement organizational change
Answer:
Incentive systems are so attractive to leaders who attempt to implement organizational change because they are powerful tools that can influence and motivate workers to embrace organizational change.
Explanation:
Incentive systems promote and encourage specific workers' actions or behavior. They are particularly used in businesses to motivate employees to adopt certain behaviors during a change transition by management. Studies have shown that if correct incentive systems are correctly selected, implemented, and monitored, they can increase team performance by an average of 44 percent. This improved performance makes incentive systems attractive to leaders who are implementing organizational changes.
A bond has a coupon rate of 8.6 percent and 5 years until maturity. If the yield to maturity is 8.2 percent, what is the price of the bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Answer:
$1,015.89
Explanation:
Annual coupon = 1000*8.6% =86
Present value of annuity = Annuity[1-(1+interest rate)^-time period]/rate
= 86*[1-(1.082)^-5]/0.082
= 86*3.971751714
Present value of discounting factor=1000/1.082^5
= 674.316359
= 1000*0.674316359
Price of bond = Annual coupon*Present value of annuity factor(8.2%,5) + $1000*Present value of discounting factor(8.2%,5)
Price of bond = 86*3.971751714 + $1000*0.674316359
Price of bond = 341.570647404 + 674.316359
Price of bond = 1015.887006404
Price of bond = $1,015.89
The selling price of an item is $455. It is marked down by 20%, but this sale price is still marked up from a cost of $280. Find the markup from the cost to sale price.
Answer:
$84
Explanation:
Calculation to Find the markup from the cost to sale price
Using this formula
Cost to sale price markup=[Selling price-(Marked down percentage *Selling price)]- Sale price marked up
Let plug in the formula
Cost to sale price markup=[$455-(20%*$455)]-$280
Cost to sale price markup=($455-$91)-$280
Cost to sale price markup=$364-$280
Cost to sale price markup=$84
Therefore the markup from the cost to sale price will be $84
If the owner of a concert hall wishes to use third-degree price discrimination to price its tickets at $20, $15, and $10, it should price tickets lower for customers who
Answer: more elastic in their demand for tickets
Explanation:
Third-degree price discrimination is used by company when different price is being charged to a particular group of consumers.
Based on the scenario in the question, the owner of the concert hall should price tickets lower for customers who are more elastic in their demand for tickets.
Elastic demand simply means that a little change in the price of the concert hall will lead to a higher change in the quantity demanded. In this case, when the price increases, such people will buy little tickets. Therefore, the prices should be set lower for these set of people as there will be a huge increase in demand when the price is lower.
Suppose that Kathy uses her credit card to cover her expenses and pay her bills. She accumulates a balance of $12,500 at an annual interest rate of 21%. Determine the future value of the total amount she will have to repay, if she takes 6 years to pay it off. Briefly, explain how excessive credit usage can’t lead into financial burden or default on your loans. (Show your work)
Answer:
$39,230.35
Explanation:
Balance = $12,500
Rate of Interest = 21%
Duration to repay = 6 years
Future pending amount =[12,500 * (1 + 0.21)^6]
Future pending amount = 39,230.35
Thus, Kathy have to repay $39,230.35 at the end of 6 years.
Excessive credit usage would not lead to default on your loans because credit card companies offer loan when you maintain a healthy balance sheet which means you maintain a specific amount in your account always which can repay the loan easily. Keeping extra money in your account reduce the probability that customers default on loans.
SEE
What characters can be included in a macro name? Check all that apply.
letters
numbers
spaces
underscores
BO
symbols
Answer:
Letter
Number
Underscores
Explanation:
A Macro names should mainly comprise of alphanumeric characters which is made up of mainly letters and numbers. Underscores as well as the first key being in capital is also important.
Space isn’t necessary as it has no clearly defined function .
Answer:
1) Letters
2) Numbers
3) Underscores
Explanation:
got it right on edge
Based on a predicted level of production and sales of 19,000 units, a company anticipates total variable costs of $58,900, fixed costs of $38,000, and operating income of $34,240. Based on this information, the budgeted amount of variable costs for 17,000 units would be:____.
a. $72,240.
b. $58,900.
c. $52,700.
d. $108,144.
e. $38,000.
Answer:
Total variable cost= $52,700
Explanation:
Giving the following information:
19,000 units:
Total variable costs= $58,900
Fixed costs= $38,000
First, we need to determine the unitary variable cost:
Unitary variable cost= 58,900/19,000
Unitary variable cost= $3.1
Now, the total variable cost for 17,000 units:
Total variable cost= 17,000* 3.1
Total variable cost= $52,700
my name is landon whats urs
Answer:
lloyd
Explanation:
The Family Restaurant chain had a 10% return on a $74,000 investment in new ovens. The investment resulted in increased sales and an increase in income that was 4% of the increase in sales. The increase in sales was:
Answer: $185,000
Explanation:
The 10% Return on investing in the oven is said to be the same as 4% of the increase in sales.
Return on oven = 10% * 74,000
= $7,400
$7,400 is 4% of increase in sales;
Increase in sales = 7,400/4%
= $185,000
Which career advancement tool serves as a collection of various aspects related to your professional life?
A (Blank ) is a collection of your activities, performances, awards, and experiences that relate to your professional life.
Answer:
Career portfolio
Explanation:
Target buys products from manufacturers and then resells them to consumers. As such, Target is which of the following
A manufacturing business
A promotional enterprise
A service business
A marketing intermediary
Answer:
intermediary
Explanation:
they do not make the products. they are a stopping point a product takes between manufacturing and consumer
Target buys products from manufacturers and then resells them to consumers. Target is a marketing intermediary. Thus, the correct answer is option D.
What is a marketing intermediary?Marketing intermediaries are independent businesses that help the flow of goods and services from producers to end users. Agents, wholesalers and retailers, marketing services agencies, physical distribution companies, and financial institutions are among them. It is also known as Middlemen.
Marketing intermediaries are companies that help businesses promote, sell through digital product catalogues, and deliver goods to customers. Traditional intermediaries are classified into four types: agents and brokers, wholesalers, distributors, and retailers.
Therefore, Target is a marketing intermediary.
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Which of the following was not an effect of the Norris LaGuardia Act?
Recovery of Previously Written Off A/R
September 10-King pays the $200 previously
written off as uncollectible.
Prepare both journal entries.
Answer and Explanation:
The journal entries are shown below
On Sep 10
Account receivable - king $200
To Bad debt expense $200
(Being the reinstate previously written off account receivable is recorded)
Here account receivable is debited as it increased the assets and credited the bad debt expense as it decreased the expenses
On Sep 10
Cash Dr $200
To Account receivable - king $200
(Being cash collection is recorded)
Here the cash is debited as it increased the assets and account receivable is credited as it decreased the assets
what is the four international payment method
The equation for calculating the price elasticity of demand
O does not use percent change in the numerator and denominator.
O takes into account slope.
O uses percent change in both the numerator and denominator.
The equation for calculating the price elasticity of demand O uses percent change in both the numerator and denominator.
Call for is the amount of a terrific that clients are inclined and able to buy at diverse fees all through a given time. The relationship among rate and quantity call for is also known as the call for curve.
Demand is the amount of purchasers who are willing and in a position to shop for merchandise at various costs at some point of a given period of time. Demand for any commodity implies the clients' preference to gather the coolest, the willingness and potential to pay for it.
As instance, if a consumer is hungry and buys a slice of pizza, the first slice could have the finest gain or application.
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