Answer:
See below
Explanation:
Given that,
Accounts receivables :
Beginning balance 1 September = $22,400
Services on account = $45,000
Cash collected = $34,400
Written off accounts = $2,000
Allowance for doubtful accounts:
Beginning balance 1 September = $4,400
Adjusted balance for Allowance for doubtful accounts on 30th September
= Beginning balance 1 September - Written off accounts + Bad debt expense
= $4,400 + $2,000 + ($45,000 × 8%)
= $4,400 + $2,000 + $3,600
= $6,000
A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 36%, while stock B has a standard deviation of return of 16%. The correlation coefficient between the returns on A and B is 0.30. Stock A comprises 30% of the portfolio, while stock B comprises the rest of the portfolio. What is the standard deviation of the return on this portfolio?
Answer: 17.7%
Explanation:
Standard deviation of portfolio = √(Weight of A² * Standard deviation of A² + Weight of B² * Standard deviation of B² + 2 * Weight of A * Weight of B * Correlation coefficient of A and B * Standard deviation of A * Standard deviation of B)
= √(30%² * 36%² + 70%² * 16%² + 2 * 30% * 70% * 0.30 * 36% * 16%)
= √0.0314656
= 17.7%
Waldo Company has been approached about providing a new service to its clients. The company will bill clients $160 per hour; the related hourly variable and fixed operating costs will be $70 and $24, respectively. If all employees are currently working at full capacity on other client matters, the per-hour opportunity cost of being unable to provide this new service is:
Answer:
$90 per hour
Explanation:
Opportunity cost means the benefit one have forgone, for choosing another alternative. Opportunity cost of being unable to provide new service = Billing price - Variable cost per hour. Here, fixed cost is not considered because it will be incurred irrespective of the capacity of working.
So, Opportunity cost = $160 - $70 = $90 per hour
Riverboat Adventures pays $170,000 plus $14,000 in closing costs to buy out a competitor. The real estate consists of land appraised at $22,000, a building appraised at $79,200, and paddleboats appraised at $118,800. Compute the cost that should be allocated to the building. Multiple Choice $66,240. $61,200. $79,200.
Answer:
Total cost allocated to building = $66,240
Explanation:
Given:
Total amount pay = $170,000 + $14,000 = $184,000
Land appraised amount = $22,000
Building appraised amount = $79,200
Paddleboats appraised price = $118,800
Find:
Total cost allocated to building
Computation:
Total appraisal price = Land appraised amount + Building appraised amount + Paddleboats appraised price
Total appraisal price = $22,000 + $79,200 + 118,800
Total appraisal price = $220,000
Total cost allocated to building = [Total amount pay / Total appraisal price]Building appraised amount
Total cost allocated to building = [184,000/220,000]79,200
Total cost allocated to building = $66,240
Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $24,700, and the company expects to sell 1,640 per year. The company currently sells 1,990 units of its existing model per year. If the new model is introduced, sales of the existing model will fall to 1,660 units per year. The old board retails for $23,100. Variable costs are 53 percent of sales, depreciation on the equipment to produce the new board will be $1,035,000 per year, and fixed costs are $3,250,000 per year. If the tax rate is 24 percent, what is the annual OCF for the project
Answer: $9,524,922
Explanation:
The annual OCF of the project will be calculated as
= EBIT + Depreciation - taxes
First, we have to calculate the EBIT which will be:
= [ $24,700 x 1,640 - ( 1,990-1,660 x $23,100 ]
= $40,508,000 - (330 × $23100)
= $40,508,000 - $7,623,000
= $ 32,885,000
Variable cost will then be:
= $32,885,000 × 53%
= $32,885,000 x 0.53
= $ 17,429,050
Therefore, EBIT will be:
= $32,885,000 - $ 17,429,050 - Fixed cost - depreciation
= $32,885,000 - $ 17,429,050 - $3,250,000 - $1,035,000
= $11,170,950
Then, we calculate the value of tax which will be:
= $11,170,950 x 0.24
= $2,681,028
Therefore, OCF will be:
= EBIT + Depreciation - taxes
= $11,170,950 + $1,035,000 - $2,681,028
= $9,524,922
Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is:
Direct materials used $ 88,000
Direct labor used $ 161,800
Predetermined overhead rate (based on direct labor) 140 %
Goods transferred to finished goods $ 445,000
Cost of goods sold $ 457,000
Credit sales $ 833,400
A. Debit Accounts Receivable $833,400; credit Cost of Goods Sold $833,400.
B. Debit Accounts Receivable $833,400; credit Sales $376,400; credit Finished Goods Inventory $457,000.
C. Debit Cost of Goods Sold $457,000; credit Sales $457,000.
D. Debit Finished Goods Inventory $457,000; debit Sales $833,400; credit Accounts Receivable $833,400; credit Cost of Goods Sold $457,000.
E. Debit Accounts Receivable $833,400; credit Sales $833,400; debit Cost of Goods Sold $457,000; credit Finished Goods Inventory $457,000.
Answer:
E. Debit Accounts Receivable $833,400; credit Sales $833,400; debit Cost of Goods Sold $457,000; credit Finished Goods Inventory $457,000.
Explanation:
Based on the information given we were told that the Cost of goods sold was the amount of $ 457,000 while the Credit sales was the amount of $ 833,400 which means that the appropiate journal entry to record June sales is:
Debit Accounts Receivable $833,400
Credit Sales $833,400
(To record sales)
Debit Cost of Goods Sold $457,000
Credit Finished Goods Inventory $457,000
(To record sales)
What is the present value of 4360 to be received at the beginning of each of 30 periods discounted at 5% compound interest
Answer:
The right solution is "70375.08".
Explanation:
Given that,
Present value,
= 4360
Interest rate,
= 5%
Time period,
= 30
Now,
The present value of inflows will be:
= [tex](1+rate)\times \frac{Present \ value[1-(1+Interest \ rate)^{-time \ period}]}{rate}[/tex]
= [tex]1.05\times 4360\times \frac{[1-(1.05)^{-30}]}{0.05}[/tex]
= [tex]4360\times 16.1410736[/tex]
= [tex]70375.08[/tex]
what are the Computer Design problems and their solutions?
The Fortise Corporation manufactures two types of vacuum cleaners, the Victor for commercial building use and the House-Mate for residences. Budgeted and actual operating data for the year 2017 were as follows: Static Budget Victor House-Mate Total Number sold 20,000 80,000 100,000 Contribution margin $4,600,000 $15,200,000 $19,800,000 Actual Results Victor House-Mate Total Number sold 21,500 64,500 86,000 Contribution margin $6,665,000 $14,190,000 $20,855,000 What is the total sales-mix variance closest to in terms of the contribution margin
Answer:
The Fortise Corporation
The total sales-mix variance closest to $1,055,000 in terms of the contribution margin.
Explanation:
a) Data and Calculations:
Static Budget Victor House-Mate Total
Total Number sold 20,000 80,000 100,000
Contribution margin $4,600,000 $15,200,000 $19,800,000
Actual Results Victor House-Mate Total
Number sold 21,500 64,500 86,000
Contribution margin $6,665,000 $14,190,000 $20,855,000
Variance
Number sold 1,500 F 15,500 U 14,000 U
Contribution margin $2,065,000 F $1,010,000 U $1,055,000 F
A process plant making 5000 kg/day of a product selling for $1.75/kg has annual variable pro- duction costs of $2 million at 100 percent capacity and fixed costs of $700,000. What is the fixed cost per kilogram at the breakeven point? If the selling price of the product is increased by 10 percent, what is the dollar increase in net profit at full capacity if the income tax rate is 35 percent of gross earnings?
Answer:
a. Breakeven point = Fixed cost / Contribution margin
Contribution margin = Selling price - Variable costs per unit
Variable cost per unit = 2,000,000 / (5,000 * 365 days)
= $1.10
Contribution margin = 1.75 - 1.10
= $0.65
Breakeven point = 700,000 / 0.65
= 1,076,923 kg
Fixed cost per kilogram at those units is:
= 700,000 / 1,076,923
= $0.65
_________________________________________________________
b. Net profit at original prices:
= (Contribution margin * units produced) - Fixed costs
= (0.65 * 5,000 * 365) - 700,000
= $486,250
Less taxes:
= 486,250 * (1 - 35%)
= $316,062.50
Net profit after price increase:
New selling price = 1.75 * 1.1
= $1.93
Net profit = ((Selling price - Variable cost) * units sold) - fixed cost
= ( (1.93 - 1.10) * 5,000 * 365) - 700,000
= $814,750
After tax:
= 814,750 * (1 - 35%)
= $529,587.50
Dollar increase:
= 529,587.50 - 316,062.50
= $213,525
A factory worker makes $17.50 per hour. Next month, she will receive a 1.5% increase in her hourly rate. What will her new hourly rate be?
Answer:
$19.00
Explanation:
On January 15, 2020, Vern purchased the rights to a mineral interest for $3,500,000. At that time, it was estimated that the recoverable units would be 500,000. During the year, 40,000 units were mined and 25,000 units were sold for $800,000. Vern incurred expenses during 2020 of $500,000. The percentage depletion rate is 22%. Determine Vern's depletion deduction for 202
Answer: $175,000
Explanation:
Vern's depletion deduction for 2020 will be calculated thus:
= (Cost - Salvage value) / (Estimated Number of units × Number of units extracted
= 3500000/500000 × 25000
= 7 × 25000
= $175000
Therefore, Vern's depletion deduction for 2020 is $175000
Roberto has received various gifts over the years and has decided to dispose of the following assets he received as gifts:
What is the recognized gain or loss from the following transactions, assuming that no gift tax was paid when the gifts were made.
If an answer is zero, select "neither a gain nor a loss" and enter "0" as the amount.
a. In 1981, he received land worth $32,000. The donor's adjusted basis was $35,000. Roberto sells the land for $95,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
b. In 1986, he received stock in Gold Company. The donor's adjusted basis was $19,000. The fair market value on the date of the gift was $34,000. Roberto sells the stock for $40,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
c. In 1992, he received land worth $15,000. The donor's adjusted basis was $20,000. Roberto sells the land for $9,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
d. In 2013, he received stock worth $30,000. The donor's adjusted basis was $42,000. Roberto sells the stock for $38,000 in 2018.
(neither a gain or a loss/ a gain/ a loss) of $__________ is recognized.
Answer: See explanation
Explanation:
a. The recognized gain or loss from the transaction will be:
= Amount realized - Adjusted basis
= $95000 - $35000
= $60000
Gain of $60000 will be recognized
b. The recognized gain or loss from the transaction will be:
= Amount realized - Adjusted basis
= $40000 - $19000
= $21000
Gain of $21000 is recognized
c. The recognized gain or loss from the transaction will be:
= Amount realized - Adjusted basis
= $9000 - $15000
= -$6000
Loss of $6000 is recognized
d. In this case, no gain or loss will be recognized.
An unfinished desk is produced for $35.65 and sold for $64.20. A finished desk can be sold for $76.00. The additional processing cost to complete the finished desk is $6.15. Provide a differential analysis for further processing. Round your answers to two decimal places, if necessary. Differential revenue from further processing:
Revenue per unfinished desk $___________
Revenue per finished desk _______________
Differential revenue $____________
Differential cost per desk:
Additional cost for producing ___________
Differential from further processing __________
Answer:
Differential revenue from further processing:
= $11.80.
Explanation:
a) Data and Calculations:
Cost of production of an unfinished desk = $35.65
Selling price of an unfinished desk = $64.20
Selling price of a finished desk = $76.00
Additional processing cost = $6.15
Revenue per finished desk $76.00
Revenue per unfinished desk 64.20
Differential revenue $11.80
Differential cost per desk:
Cost of unfinished desk $35.65
Additional cost for producing 6.15
Differential from further processing $41.80
Unfinished Finished Differential
Revenue $64.20 $76.00 $11.80
Cost of production (35.65) (41.80) (6.15)
Net income $28.55 $34.20 $5.65
A business owned and run by one person is called a(n)
a business owned and run by one person is called a(n)
sole proprietorship
ABC Company rents its extra office space to XYZ Company for $600 per month. On November 1, 2020, ABC Company received $3,600 rent in advance from XYZ Company for the months of November 2020, December 2020, January 2021, February 2021, March 2021, and April 2021. The adjusting entry on December 31, 2020 (the end of the fiscal year) would include:
Answer:
Debit : Rent Paid in Advance $1,200
Credit : Rent Income $1,200
Explanation:
The adjusting entry on December 31, 2020 would include:
Debit : Rent Paid in Advance $1,200
Credit : Rent Income $1,200
Huron has provided the following year-end balances: Cash, $29,000 Patents, $7,400 Accounts receivable, $9,400 Property, plant, and equipment, $98,400 Prepaid insurance, $4,100 Accumulated depreciation, $15,000 Inventory, $39,000 Retained earnings, 15,500 Trademarks, $13,100 Accounts payable, $8,000 Goodwill, $16,000 How much are Huron's current assets
Answer:
$81,500
Explanation:
Given the information above, Hurron's current asset will be computed using the formula below.
= Cash + Accounts receivables + Prepaid insurance + Inventory
= $29,000 + $9,400 + $4,100 + $39,000
= $81,500
Therefore, Hurron's current assets is $81,500.
On December 1, a six-month liability insurance policy was purchased for $1,134. Analyze the required adjustment as of December 31 using T accounts, and then formally enter this adjustment in the general journal. (Trial balance is abbreviated as TB.)
Answer and Explanation:
As the insurance policy would be for 6 months
So per month it is
= $1,134 ÷ 6 months
= $189
Now the T account is
Prepaid insurance
Opening balance $1,134 Insurance expense $189
balance $945
Income statement
Adjustment $189
Journal entry
Insurance expense $189
To Prepaid insurance $189
(Being insurance expense is recorded)
ABM, Kaizen Costing Baker, Inc., supplies wheels for a large bicycle manufacturing company. The bicycle company has recently requested that Baker decrease its delivery time. Baker made a commitment to reduce the lead time for delivery from seven days to one day. To help achieve this goal, engineering and production workers had made the commitment to reduce time for the setup activity (other activities such as moving materials and rework were also being examined simultaneously). Current setup times were 12 hours. Setup cost was $600 per setup hour. For the first quarter, engineering developed a new process design that it believed would reduce the setup time from 12 hours to nine hours. After implementing the design, the actual setup time dropped from 12 hours to seven hours. Engineering believed the actual reduction was sustainable. In the second quarter, production workers suggested a new setup procedure. Engineering gave the suggestion a positive evaluation, and they projected that the new approach would save an additional six hours of setup time. Setup labor was trained to perform the new setup procedures. The actual reduction in setup time based on the suggested changes was four hours.
Required:
1. What kaizen setup standard would be used at the beginning of each quarter?
2. How much non-value-added cost was eliminated by the end of two quarters?
Answer and Explanation:
the computation is shown below:
1. Setup Time standard
Here the first quarter standard would be considered i.e. 9 hours so we dont take the actual setup time
The Second quarter is 1 hour that denotes the Expected setup time
2. The Total non-value cost which got eliminated is
Since, The setup time was Decrease from 12 hours to 3 hours.
So, the Total non value added cost eliminated is
= $600 × (12 - 3)
= $600 × 9
= $5,400
Saginaw Steel Corporation has a precredit U.S. tax of $105,000 on $500,000 of taxable income in 2018. Saginaw has $200,000 of foreign source taxable income and paid $60,000 of income taxes to the German government on this income. All of the foreign source income is treated as foreign branch income for foreign tax credit purposes. Saginaw's foreign tax credit on its 2018 tax return will be:
Answer: $42000
Explanation:
Saginaw's foreign tax credit on its 2018 tax return will be calculated thus:
= Foreign source taxable income × precredit U.S tax/Taxable income
= 200000 × 105000/500000
= 200000 × 0.21
= 42000
Therefore, the foreign tax credit will be the least between $60,000 paid to the German government or $42000. In this case, the answer is $42000
A company's Cash account shows an ending balance of $4,600. Reconciling items included a bookkeeper error of $105 (a $525 check recorded as $630), two outstanding checks totaling $830, a service charge of $20, a deposit in transit of $260, and interest revenue of $33. What is the adjusted book balance
Answer:
$5,275
Explanation:
Bank Reconciliation Statement
Balance as per Cash Book $4,600
Add check error $105
Add unpresented checks $830
Less Lodgments not yet credited ($260)
Balance as per Bank Statement $5,275
therefore,
The adjusted Cash book balance is $5,275
Consider the following $1000 par value zero-coupon Treasury bonds: Bond Years to Maturity Yield to Maturity A 1 4.00% B 2 4.50% C 3 5.11% D 4 5.86% E 5 6.25% The expected 2-year interest rate three years from now should be __________. Enter your answer in percent to the nearest hundredth, for example if your answer is .25432, enter 25.43.
Answer: 7.98%
Explanation:
This deals with spot rates and forward rates. The 2 year interest rate three years from now is the 2 year forward rate, 3 years from now.
It can be calculated through the relationship below:
(1 + 5 year spot rate)⁵ = (1 + third year spot rate)³ * (1 + 2 year forward rate)²
(1 + 6.25%)⁵ = (1 + 5.11%)³ * (1 + 2 year forward rate)²
1.35408 = 1.161267 * (1 + 2 year forward rate)²
(1 + 2 year forward rate)² = 1.35408 / 1.161267
1 + 2 year forward rate = √1.16603675
2 year forward rate = √1.16603675 - 1
= 7.98%
Indiana Co. began a construction project in 2021 with a contract price of $162 million to be received when the project is completed in 2023. During 2021, Indiana incurred $40 million of costs and estimates an additional $84 million of costs to complete the project. Indiana recognizes revenue over time and for this project recognizes revenue over time according to the percentage of the project that has been completed.
Suppose that, in 2022, Indiana incurred additional costs of $65 million and estimated an additional $52 million in costs to complete the project. Indiana (Do not round your percentage calculated):
A) Recognized $8.91 million gross profit on the project in 2022.
B) Recognized $11.91 million gross profit on the project in 2022.
C) Recognized $3.00 million loss on the project in 2022.
D) Recognized $8.91 million loss on the project in 2022.
Answer:
D) Recognized $8.91 million loss on the project in 2022.
Explanation:
The computation is shown below:
For Year 2021:
Percentage of work completed in the year 2021 is
= $40 ÷ ($40 + $84)× 100
= $40 ÷ $124 × 100
= 32.26%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $84
= $38
Profit to be recognized in the year 2016 is
= profit × percentage of completion
= $38 × 32.26%
= $12.256
For Year 2022:
Percentage of work completed in the year 2017 is
= ($40 + $65) ÷ ($40 + $65 + $52)
= $105 ÷ $157 × 100
= 66.88%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $65 - $52
= $5
Profit that should be recognized till the year 2017 is
= profit × percentage of completion
= $5 × 66.88%
= $3.344
Profit to be recognized in the year 2017 is
= $3.344 - $12.256
= 8.91 million loss
Cliff's Candy produces and sells boxes of chocolates. When Cliff produces and sells his profit-maximizing quantity of 1,000 boxes, the average total cost is $3.00. If Cliff were to produce 1,100 boxes, the average total cost would be $2.50. Which of the following inefficiencies of monopolistically competitive markets is described in this scenario?
a. Product-variety externality
b. Business-stealing externality
c. Markup over marginal cost
d. Excess capacity
Answer:
D
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
The product-variety externality: When new firms enter into an industry, competition drives price down. This increases consumer surplus. As a result, entry of firms into an industry results in a positive externality on consumers.
The business-stealing externality: When a new firm enters into an industry, existing firms lose customers and profits fall. As a result, entry of a new firm results in a negative externality on existing firms.
Markup over marginal cost is the extent of which price exceeds marginal cost
Excess capacity is when a firm is producing at a capacity that is less than what it is designed for. Excess capacity is evidenced when upon increasing output, average cost falls.
Under the good neighbor rule, a buyer of consumer goods, who gives value and does not have
actual or constructive knowledge of the security interest, acquires clear title if there has been no filing
a. True
b. False
What is the purpose of a W-2 form and how is it used to file taxes?
The following transactions occurred during July: Received $1,600 cash for services performed during July. Received $7,800 cash from the issuance of common stock to owners. Received $800 from a customer as payment for services performed during June. Billed $4,700 to customers for services performed on account in July. Borrowed $3,300 from the bank and signed a promissory note. Received $2,200 from a customer for services to be performed during August. What is the amount of revenue that will be reported on the income statement for the month ended July 31
Answer:
the amount of revenue that should be reported is $6,300
Explanation:
The computation of the amount of revenue that should be reported is shown below;
= Cash received + service revenue earned on the account
= $1,600 + $4,700
= $6,300
hence, the amount of revenue that should be reported is $6,300
Basically we add the two items so that the correct value could arrive
Beacon Company is considering automating its production facility. The initial investment in automation would be $15 million, and the equipment has a useful life of 10 years with a residual value of $500,000. The company will use straight-line depreciation. Beacon could expect a production increase of 40,000 units per year and a reduction of 20 percent in the labor cost per unit.
Determine the project's accounting rate of return. (Round your answer to 2 decimal places.)
Accounting Rate of Return____________
Determine the project's payback period. (Round your answer to 2 decimal places.)
Payback Period _______________years
Using a discount rate of 15 percent, calculate the net present value (NPV) of the proposed investment. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign.)
Net Present Value ______________
Recalculate the NPV using a 10% discount rate. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Negative amount should be indicated by a minus sign.)
Net Present Value_________
Question Completion:
Current Proposed
no automation with automation
Production and Sales Volume 80,000 units 120,000 units
Per unit Per unit
Sales revenue $90 $7,200,000 $90 $10,800,000
Variable costs
Direct materials 18 18
Direct labor 25 20
Variable overhead 10 10
Total variable costs 53 48
Contribution per unit $37 2,960,000 $42 5,040,000
Fixed costs 1,250,000 2,350,000
Net operating income $1,710,000 $2,690,000
Answer:
Beacon Company
a. The project's accounting rate of return = Net operating income/Initial investment * 100
= $2,690,000/$15,000,000 * 100
= 17.93%
b. The project's payback period =
Initial investment/Net Annual Cash inflow
= $15,000,000/$4,140,000
= 3.62 years
c. NPV (PV factor at 15% for 10 years)
Cash flows Amount PV factor PV
Cash outflows = $15,000,000 1 -$15,000,000
Cash inflows = 4,140,000 5.019 20,778,660
Salvage value 500,000 0.247 123,500
NPV = $5,902,160
c. NPV (PV factor at 10% for 10 years)
Cash flows Amount PV factor PV
Cash outflows = $15,000,000 1 -$15,000,000
Cash inflows = 4,140,000 6.145 25,440,300
Salvage value 500,000 0.386 193,000
NPV = $10,633,300
Explanation:
a) Data and Calculations:
Initial investment cost of production facility = $15 million
Estimated useful life of equipment = 10 years
Residual value = $500,000
Annual depreciation expense = $1,450,000 ($15m - $500,000)/10
Net Annual Cash inflows = Net operating income + Depreciation
= $2,690,000 + $1,450,000 = $4,140,000
define biospheredefine biosphere
Answer:
Explanation:
The biosphere (from Greek βίος bíos "life" and σφαῖρα sphaira "sphere"), also known as the ecosphere (from Greek οἶκος oîkos "environment" and σφαῖρα), is the worldwide sum of all ecosystems. It can also be termed the zone of life on Earth. The biosphere is virtually a closed system with regards to matter, with minimal inputs and outputs. With regards to energy, it is an open system, with photosynthesis capturing solar energy at a rate of around 130 Terawatts per year. However it is a self-regulating system close to energetic equilibrium. By the most general biophysiological definition, the biosphere is the global ecological system integrating all living beings and their relationships, including their interaction with the elements of the lithosphere, cryosphere, hydrosphere, and atmosphere. The biosphere is postulated to have evolved, beginning with a process of biopoiesis (life created naturally from non-living matter, such as simple organic compounds) or biogenesis (life created from living matter), at least some 3.5 billion years ago.
Answer:
the regions of the surface, atmosphere, and hydrosphere of the earth (or analogous parts of other planets) occupied by living organisms.
Fosters Manufacturing Co. warrants its products for one year. The estimated product warranty is 4% of sales. Assume that sales were $280,000 for January. On February 7, a customer received warranty repairs requiring $180 of parts and $105 of labor.a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty. b. Journalize the entry to record the warranty work provided in February.
Answer:
Explanation:
a. Journalize the adjusting entry required at January 31, the end of the first month of the current fiscal year, to record the accrued product warranty.
Debit: Product Warranty expense Account = $280,000 × 4% = $11200
Credit Product Warranty payable = $11200
b. Journalize the entry to record the warranty work provided in February.
Debit Product warranty payable Account $285
Credit Supplies account $180
Credit Wages payable account $105
An organization wants to provide its employees information about what its goals are and what it expects employees to accomplish. It is planning to implement an incentive plan that helps employees understand the organization's goals. Which plan should be used by this organization?
Answer:
This question is incomplete, the options are missing. The options are the following:
a) A retention bonus
b) A piecework rate system
c) A merit pay system
d) The Scanlon plan
e) A balanced scorecard
And the correct answer is the option E: A balanced scorecard.
Explanation:
To begin with, the term known as "Balanced Scorecard" it is a very famous strategy method used in the fields of management and business in order to achieve higher levels of administration from the managers and owners. It is a technique that involves the company's short and long term goals and the way to plan how to incentive the employees of the company in order for them to grow and understand better the plans of the organization so that they could work better and increase the productivity that will consequently affect in the benefits of the enterprise as a whole.