p-7-2. Rock Castle Construction-Collections on Accounts Receivable The management of Rock Castle Construction wants a listing of collections on accounts receivable (Received Payments) in excess of $5,000 for last year (01/01/2021 to 12/31/2021). The listing is to be sorted by invoice date from earliest to latest and is to include only the following three columns in the order listed, from left to right: Customer, Collection Amount, and Collection Date. The total of collections on the listing should be included. The schedule should have proper headings and your name. Export the information to Excel to complete the requirement. You may need to edit some of the column headings after exporting to Excel. Required Prepare and print a list of the cash receipts from collections on accounts receivable in the format requested by management.
Answers
The cash receipts from collections on accounts receivable in the format requested by management is given in the image below.
What is the cash receipts?A cash receipts journal is a specialized accounting journal that serves as the main entry book in an accounting system to track the sales of items when cash is received, by crediting sales and debiting cash and receipt-related transactions.
The most significant advantage of a cash receipt is the accuracy of the accounting records that support the existence of recording transactions.
Therefore, the format of list of the cash receipts from collections on accounts receivable are given below.
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Related Questions
which is the most accurate statement regarding the relationship between having money and experiencing happiness?
Answers
The most accurate statement regarding the relationship between having money and experiencing happiness is that there is a positive correlation between two, but only up to a point. After reaching a income level, additional money does not bring as much happiness as it did before.
The relationship between having money and experiencing happiness has been a topic of discussion for years. While money can provide a certain level of comfort and security, it is not the sole factor in determining one's happiness.
The idea that money can buy happiness has been largely debunked by research studies, which have found that happiness does not increase linearly with income. In fact, the relationship between money and happiness is more complex than that
Other factors, such as social connections, a sense of purpose, and physical and mental wellbeing, also play a role in determining one's happiness. Therefore, while having money can certainly contribute to one's overall well-being, it is not the sole determinant of happiness.
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Paul, John, George and Richard decided to form a limited liability corporation (LLC) for their music business. They want to clearly define the way partners leave the LLC and describe what will happen when they dissolve the LLC. This information would be included in
Answers
In forming a limited liability corporation (LLC) for their music business, Paul, John, George, and Richard would include the terms related to partners leaving the LLC and the process of dissolving the LLC in the operating agreement. The operating agreement outlines the rules and procedures for such events.
The operating agreement is a critical document for any LLC as it provides a clear understanding of how the business is managed and the responsibilities of each member. When it comes to partners leaving the LLC, the operating agreement should address the process of how a partner can resign, how the remaining partners will buy out the departing member's ownership share, and any restrictions on transferring ownership interests to third parties.
Moreover, the operating agreement should also define the conditions under which the LLC can be dissolved. This may include a unanimous vote by all members, the occurrence of a specific event, or upon the death or incapacity of a member. The dissolution process should outline the steps to wind up the business, such as paying off debts, distributing remaining assets to members, and filing the necessary paperwork with the state.
By including these terms in the operating agreement, Paul, John, George, and Richard can ensure a smooth transition if a partner decides to leave or if the LLC needs to be dissolved in the future. This also helps prevent disputes among members and protect their personal assets as part of the limited liability protection provided by the LLC structure.
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Computing Payroll Costs; Discussion of Labor Costs LO 9-1 (The following information applies to the questions displayed below.] Oaks Company has completed the payroll for the month of January, reflecting the following data: Salaries and wages earned Employee income taxes withheld FICA payroll taxes* $ 86,000 10,000 6,000 "Assessed on both employer and employee (i.e., $6,000 each). E9-3 Part 2 2. List the liabilities and their amounts reported on the company's January 31 balance sheet, assuming the employees have been paid but that no transfers have been made to government agencies
Answers
The total liabilities reported on the balance sheet would be $102,000 ($86,000 + $10,000 + $6,000).
Total liabilitiesBased on the information provided, the liabilities and their amounts reported on the company's January 31 balance sheet would be:
Salaries and wages payable: $86,000Employee income taxes payable: $10,000FICA payroll taxes payable: $6,000 (both employer and employee portions)Therefore, the total liabilities reported on the balance sheet would be $102,000 ($86,000 + $10,000 + $6,000).
These amounts represent the company's obligation to pay its employees and to remit the appropriate taxes to government agencies.
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All of the following statements are true concerning nicotine and weight control EXCEPT:
Answers
All of the following statements are true concerning nicotine and weight control except carrying extra weight is more dangerous than smoking.
How nicotine is harmful to health?Nicotine is a toxic and very addicting substance. It may result in an increase in heart rate, blood flow to the heart, blood pressure, and artery constriction (vessels that carry blood). In addition to contributing to artery wall hardening, nicotine may also increase the risk of a heart attack.
Depending on how frequently you smoke, this substance can linger in your body for six to eight hours. There are certain withdrawal adverse effects as there are with the majority of addictive drugs. Additionally, some modern tobacco products and e-cigarettes contain even more nicotine than regular cigarettes.
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History of Stock Exchange in India
Answers
Answer:
The first organised stock exchange in India was started in 1875 at Bombay and it is stated to be the oldest in Asia. In 1894 the Ahmedabad Stock Exchange was started to facilitate dealings in the shares of textile mills there. The Calcutta stock exchange was started in 1908 to provide a market for shares of plantations and jute mills.
Then the madras stock exchange was started in 1920. At present there are 24 stock exchanges in the country, 21 of them being regional ones with allotted areas. Two others set up in the reform era, viz., the National Stock Exchange (NSE) and Over the Counter Exchange of India (OICEI), have mandate to have nation-wise trading.
They are located at Ahmedabad, Vadodara, Bangalore, Bhubaneswar, Mumbai, Kolkata, Kochi, Coimbatore, Delhi, Guwahati, Hyderabad, Indore, Jaipur’ Kanpur, Ludhiana, Chennai Mangalore, Meerut, Patna, Pune, Rajkot.
The Stock Exchanges are being administered by their governing boards and executive chiefs. Policies relating to their regulation and control are laid down by the Ministry of Finance. Government also Constituted Securities and Exchange Board of India (SEBI) in April 1988 for orderly development and regulation of securities industry and stock exchanges.
New orders are coming in quickly for SmartTech, and management is confident that new contracts will take them through the next couple of years. The company has started investing again, but not in people. The number of employees is the same as when the company and its competitors faced the Great Recession. Most likely due to ________________, the company is producing more product and services with less people. Multiple Choice
Answers
Answer:
Technological advancement
Explanation:
Technological advancement is a method that is used to make production process more efficient without increasing the labour that is used.
It involves the use of technology to increase efficiency of the production process.
This makes it possible for SmartTech to produce more product and services with less people.
They are investing more in technology than in human labour.
What term, initially developed by the Italian philosopher Antonio Gramsci, describes the situation whereby a particular set of ideas have become the 'common sense' in a particular society?
Answers
The term that initially developed by the Italian philosopher Antonio Gramsci to describe the situation whereby a particular set of ideas have become the 'common sense' in a particular society is cultural hegemony.
Antonio Gramsci, an Italian Marxist philosopher, developed the concept of cultural hegemony to describe the way in which the dominant class in a society uses its power to shape the values, beliefs, and ideas of the rest of society. Cultural hegemony refers to the process by which the dominant culture establishes its worldview as the norm or "common sense" for the rest of society, creating a sense of consent and legitimacy for the existing social order.
In essence, cultural hegemony describes the process by which a particular set of ideas becomes so deeply ingrained in a society's culture that they are accepted as natural, common sense, and unquestionable.
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Identify whether the income below would be considered earned income, passive income, or portfolio income. Mychal’s parents bought a house, fixed it up, and sold it at a higher price.
Answers
Answer: Portfolio income is money received from investments, dividends, interest, and capital gains. It is one of three categories of income.
Explanation:
References that employers trust for the most accurate reporting include
a. friends
b relatives
C. counselors
d. parents
Answers
Answer: counselors
Explanation:
References that employers trust for the most accurate reporting include counselors. Employers don't trust the friends, relatives and parents of the prospective employees or employees for an accurate report because employers believe that they're not professional enough and due to their closeness to the employee, they may give false information in order to put the employee at an advantage. Employers see counselors as being more professional and will give the right informations.
It should be noted that in a case whereby a candidate performs well in his or her job tests and interviews and has a positive recommendation from his or her references together, the person has a high chance of being employed.
Answer:
C. Counselors.
Explanation:
Did the quiz
Which parts of your business are not profitable?
Answers
Answer:
7 Problems Preventing Your Business From Being Profitable
Low prices. Setting prices is one of the first and most important decisions you'll have to make for your business.Too much overhead.Too many ongoing costs.Unseen or hidden costs.Fierce competition.A lack of market awareness. Inconsistency.Classifying assets liabilities and owners equity
1. Cash
2. Alice Jones, Capital
3. Prepaid insurance
4. Steward supply company (a creditor)
5. Supplies
6. Any amount owed
7. Owners capitol account
8. Anything owned
Answers
Liability - steward supply company, any amount owed,
Owners equity - Alice Jones, owners capital account
estion 1 yet wered -ked out of O Flag question Jane, a citizen of Country X, received a corporate dividend in the amount of £10,000 from a company in the U.K. Country X did not tax Jane's dividend. Country X is using what kind of approach toward foreign source income? O a. Legalistic approach O b. Nationality approach O c. Worldwide approach O d. Territorial approach 2 ut of estion Jane, a citizen of Country X, received a corporate dividend in the amount of £10,000 from a company in the U.K. Country X taxed Jane's dividend as ordinary income. Country X is using what kind of approach toward foreign source income? O a. Territorial approach O b. Legalistic approach O c. None of the above O d. Worldwide approach 3 d out of uestion The definition of a "permanent establishment" is a key article of the OECD's model tax treaty. Which of the following would NOT be considered a permanent establishment by the OECD? a. Storage facility O b. Construction site O c. Branch O d. Mine 4 d -ut of estion There are two major taxes imposed on profits earned by corporations in international trade. One is the corporate income tax. What is the other type of tax on earnings of multinational corporations? O a. Withholding tax O b. Payroll tax O c. Excise tax O d. Value-added tax 5 d out of uestion What approach is taken by the United States of America in terms of personal income tax? O a. Both citizenship and residence O b. Citizenship only O c. Residence only O d. None of the above 6 ut of estion What is a primary difference between the OECD and UN model tax treaties? O a. The UN model assumes all countries are economic equals, whereas the OECD model does not. O b. The UN model grants more taxing rights to the host country than does the OECD model when host country is developing countries. c. The model treaty of the UN gives more taxing rights to well-developed countries than developing countries. O d. All of the above are differences between the OECD and UN models.
Answers
1. Country X's approach toward foreign source income is a territorial approach.
2. Country X's approach toward foreign source income is a worldwide approach.
3. The item that would NOT be considered a permanent establishment by the OECD is a storage facility.
4. The other type of tax on earnings of multinational corporations, besides corporate income tax, is withholding tax.
5. The approach taken by the United States of America in terms of personal income tax is both citizenship and residence.
6. A primary difference between the OECD and UN model tax treaties is that the UN model grants more taxing rights to the host country than the OECD model when the host country is a developing country.
1. In a territorial approach, a country only taxes income that is sourced within its territory. Since Country X did not tax Jane's dividend from a company in the U.K., it indicates a territorial approach, where foreign source income is not subject to taxation.
2. In a worldwide approach, a country taxes its residents on their worldwide income, regardless of the source. Country X taxed Jane's dividend as ordinary income, indicating a worldwide approach that taxes foreign source income as well.
3. A storage facility would NOT be considered a permanent establishment by the OECD. The OECD's definition of a permanent establishment typically includes fixed places of business, construction sites, branches, and mines, but a storage facility is not explicitly mentioned as a permanent establishment.
4. The other type of tax on earnings of multinational corporations, besides corporate income tax, is withholding tax. Withholding tax is levied on certain types of payments made to non-resident entities, such as dividends, interest, royalties, or services rendered.
5. The United States of America follows both citizenship and residence-based taxation for personal income tax. U.S. citizens are subject to U.S. income tax regardless of their residence, while non-citizens who are residents of the U.S. are also subject to U.S. income tax.
6. A primary difference between the OECD and UN model tax treaties is that the UN model grants more taxing rights to the host country, especially developing countries, compared to the OECD model. The UN model aims to balance the taxing rights between well-developed countries and developing countries by providing more favorable treatment to the latter in terms of taxation.
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Tickets to a fundraiser are $14 if purchased ahead of time and $25 if purchased at the door. The total amount raised from all ticket sales was $625. If eleven tickets were purchased at the door, how many tickets were purchased ahead of time?.
Answers
($14)(25)=$350
($25)(11)=$275
$350+$275= $625
Acompany with a high level of productivity is able to:
A. avoid high opportunity costs.
B. expand without taking on debt.
C. produce goods and s bbbervices efficiently.
D. operate without much Investment.
Answers
Name the market structure in which agriculture farming operate
Answers
Answer:
primary sector involves agricultural stuufs
hope it is helpful
Some people believe that future generations have the same right to a clean environment that present generations have, so current generations should do everything in their power to preserve these resources. Which is an argument against this belief?
a. The level of risk to future generations does not equal the cost that current generations would have to pay to reduce this risk.
b. Since it is possible to predict the interest of future generations, only the required resources need to be preserved.
c. Current generations’ rights would be violated if they had to make any consideration for the future.
d. Since future generations don’t exist, they are incapable of possessing rights.
Answers
Some people believe that future generations have the same right to a clean environment that present generations have, so current generations should do everything in their power to preserve these resources. The correct answer is option A.
"The level of risk to future generations does not equal the cost that current generations would have to pay to reduce this risk."
This argument is frequently brought up against this belief because it suggests that the expenses of preserving the environment might not be justifiable and the present generation's obligations to future generations may not be valid if it is not proportional to the level of risk to future generations.
In response to the argument against this belief, it is important to note that if future generations are to have a good quality of life, they must have access to a healthy and clean environment.
If current generations do not take steps to protect the environment, the health and safety of future generations may be jeopardized.
As a result, the future generation's interest in having access to a clean environment is regarded as a fundamental right, and the current generation has a responsibility to secure it. Since environmental concerns may have long-term effects, it is up to current generations to act now to secure the future.
Environmental preservation must be a shared goal, with all members of society working together to guarantee that our natural resources are preserved for future generations. The correct answer is option A. "The level of risk to future generations does not equal the cost that current generations would have to pay to reduce this risk."
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The additional $600 unemployment benefit ended on July 25, 2020. Even with the $300 Lost Wages Assistance Benefit, many Texans are being evicted from their homes and cannot provide basic necessities for their family. The unemployment rate is now over 7% in Texas, above our natural rate of unemployment. Did the government make the right decision with ending the extra $600 unemployment benefit from the CARES Act? Why or why not? Explain your position.
Answers
Answer: No they did not at this rate many of the citizens will go bankrupt and the economy will suffer a great lost do to the increase of the unemployment rate
Explanation:
(14%) Let A[1..n] be an array of n positive numbers. Entry A[i] represents the trading price of a stock X on the i-th day (and hence the numbers are ordered chronologically). Write an algorithm max-profit that returns a pair (a, b) such that if one buys stock X on the a-th day and sells it on the b-th day, the maximum profit is made. Give the time complexity of your algorithm in Big-O. Show the derivation of the complexity result.
Answers
To solve this problem, we can use a simple algorithm that iterates through the array and keeps track of the minimum price seen so far and the maximum profit.
The algorithm works as follows: Initialize variables: min_price = A[1], max_profit = 0, buy_day = 1, sell_day = 1. Iterate through the array A from the second element to the last: If A[i] < min_price, update min_price = A[i]. If A[i] - min_price > max_profit, update max_profit = A[i] - min_price, buy_day = index of min_price, sell_day = i. Return the pair (buy_day, sell_day). The time complexity of this algorithm is O(n), where n is the size of the array A. This is because we perform a single pass through the array, comparing and updating values in constant time for each element. Therefore, the algorithm has a linear time complexity.
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Mark and Anthony are business partners of a franchised bakery. They have reached the end of the current financial year, and they assume that they must pay taxes. Since they have a partnership agreement, what must they submit?
A. Income tax return
B. information return
C. IRS tax claim
D. article of organization
E. policy document
Answers
Answer:
B. Information return
Explanation:
Corporations, trusts, individuals, estates, partnerships, that engage in business or trade and make transactions which are reportable shall report the transactions by filing an information return with the IRS, that indicates the amount a person received as payment within the calendar year on which the information return is based
The details on the information return can be used for ensuring that the tax returns are correctly filed
Payments made by owners of businesses such as compensation for nonemployee and employee requires the filing of an information return
It is important to save a copy of the information returns being filed each year
Who is responsible for reporting all taxable income even if it does not appear on a W-2 form?
Answers
Answer:
IRS
Explanation:
marcia strongly believes that loyalty in a relationship is very important. at her job, she is a purchasing agent. what two sets of ethical standards are in conflict for marcia
Answers
Answer: “Personal and organized” is the answer you’re looking for
Explanation: got it right on A PEX
One positive impact that industrialization has had is that.
Answers
One positive impact that industrialization has had is that industrialization has been a source of many jobs for people.
What is industrialization?Industrialization refers to the development of industries in a country or region on a wide scale.
One positive impact that industrialization has had is that industrialization has been a source of many jobs for the people.
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HELP ASAP
A company had sales revenue of $1,000,000 last year. Its operating expenses were $100,000 and its income tax expense was
$10,000. Additionally, the company had $20,000 in sales returns and cost of goods sold of $500,000. What was its gross profit?
Answers
Answer: 480,000
This should be the gross profit, but if I'm wrong please let me know and ill try to fix it. :)
As you see it, what is the importance of international organizations like the United Nations when the world is presented with new projects like the one described in this article ? Give reasons for your response.
Answers
Answer:
In my opinion I feel like there are a lot of new projects and tons of things representing new things . Majority of them are like all the same but I feel like there's always new projects being made a lot of them are the same but different due to whatever the project is
Explanation:
Melissa plans to become a nurse. What would be a good extracurricular activity for Melissa during high school? O A. O B. O C. O D. joining the cheerleading squad taking charcoal drawing lessons participating in gymnastics volunteering at a health clinic after school
Answers
Answer:
Volunteering at a health clinic after school
Explanation:
If Melissa plans on becoming a nurse, she should look for extracurriculars which could help support her in her future years. Volunteering at a health clinic could provide her with hands on experience opposed to cheerleading or charcoal drawing which are good for hobbies and fun activities. But if Melissa really has a passion to become a nurse she should look for extracurriculars which not only interest her but may be of benefit to her.
True/false: Ethnocentric pricing responds to the competitive and market conditions of national market.
Answers
False. Ethnocentric pricing does not respond directly to the competitive and market conditions of a national market. Ethnocentric pricing is a strategy where a company sets prices in a foreign market based on the pricing strategies used in its domestic or home market. It assumes that what works in the home market will also be effective in the foreign market, without considering the unique competitive dynamics and market conditions of the foreign market.
This approach can overlook important factors such as local competition, customer preferences, purchasing power, and market demand, which can vary significantly across national markets. Ethnocentric pricing tends to rely on a standardized pricing approach without much customization for local market conditions.
To effectively respond to the competitive and market conditions of a national market, companies should consider adopting pricing strategies that are tailored to the specific market dynamics of that country. Geocentric or polycentric pricing approaches, which consider and adapt to local market conditions, are generally more effective in responding to the competitive market conditions of a national market.
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The FBI special agent today likely has one or more of which of the following academic credentials? (Select all that apply.)
a firearms maintenance degree from an accredited community college
a juris doctorate degree from an accredited law school
an accounting degree and completion of the certified public accounting exam
fluency in one or more relevant foreign languages
Answers
Answer: i know its def a firearms maintenance degree from an accredited community college
Explanation:
Please help I will mark you as brainliest!!
The marketing manager at a company producing laundry products sees great
long-term profits from selling to many consumers worldwide who care about
low prices. Which of the following tactics would best support this manager's
low-price strategy?
A. Develop products with more features than the competition offers
B. Design simple, inexpensive packaging
C. Offer a customer help line for advice in using the products
D. Work with retailers that specialize in speedy checkout and fast
delivery
Answers
The tactics that would best support this manager's low-price strategy is Designing simple, inexpensive packaging. Thus option B is correct.
What is the manager?A manager refers to a person who is responsible head of any project and helps in arranging the resources, checking the progress, and timely completion of it in order to achieve the vision and goal of the organization.
In order to cater to a large number of potential consumers the low pricing strategy is used where the manager focuses on simple and inexpensive designs which help in the affordability of consumers.
Therefore, option B is appropriate.
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Primare Corporation has provided the following data concerning last month’s manufacturing operations. Purchases of raw materials $ 32,000 Indirect materials included in manufacturing overhead $ 4,680 Direct labor $ 59,300 Manufacturing overhead applied to work in process $ 87,100 Underapplied overhead $ 4,100 Inventories Beginning Ending Raw materials $ 11,200 $ 20,000 Work in process $ 56,000 $ 68,500 Finished goods $ 34,900 $ 43,700 Required: 1. Prepare a schedule of cost of goods manufactured for the month. 2. Prepare a schedule of cost of goods sold for the month. Assume the underapplied or overapplied overhead is closed to Cost of Goods Sold.
Answers
Answer and Explanation:
1. The Preparation of schedule of cost of goods manufactured for the month is prepared below:-
Primare Corporation
Schedule of Cost of Goods manufactured
Particulars Amount
Direct Materials:
Beginning Raw Material $11,200
Add: Raw Material purchases
during the month $32,000
Total Raw Material available $43,200
Less: Ending Raw material $20,000
Raw Material used in production $23,200
Less: Indirect Material included in
manufacturing Overhead $4,680 $18,520
Add: Direct labor $59,300
Add: Manufacturing overhead
applied to work in process $87,100
Total Manufacturing Costs $164,920
Add: Beginning Work In Process $56,000
Less: Ending Work in Process $68,500
Cost of Goods manufactured $152,420
2. The Preparation of schedule of cost of goods sold for the month is prepared below:-
Primare Corporation
Schedule of Cost of Goods Sold
Particulars Amount
Beginning finished Goods Inventory $34,900
Add: Cost of Goods Manufactured $152,420
Goods available for sale $187,320
Less: Finished Goods Inventory, Ending $43,700
Unadjusted cost of goods sold $143,620
Add: Under-applied Overhead $4,100
Cost of Goods Sold adjusted $147,720
(Under-applied overhead refers that there was less overhead applied that is Actual overheads are more than the overhead applied, thus adding to the cost of the goods sold)
A sudden storm threatens the property of Marina Bay LLC. Ngoc, Marina Bay’s sales agent, is on site, but lacks the express or implied authority to bind the firm to the cost of appropriate protective measures. Unable to communicate with Marina Bay, Ngoc
a. has emergency powers to deal with the situation.
b. must await the principal’s express ratification to act.
c. can imply a power of attorney to assume the needed authority
Answers
The Marina Bay LLC property is under danger due to an unexpected storm. Despite being unable to contact Marina Bay, Ngoc is equipped with emergency powers.
Storms are powerful atmospheric disturbances that have low barometric pressure, cloud cover, precipitation, strong winds, and may even have lighting and thunder.
The term "storm" is a general one that is frequently used to refer to a wide range of atmospheric disturbances, from simple rainstorms and snowstorms to thunderstorms, wind, and wind-related disturbances like gales, tornadoes, tropical cyclones, and sandstorms.
Storms are defined in meteorological terms as cyclones with a strong center of low pressure, strong winds that gust between 103 and 117 km/h (64 and 73 mph), heavy precipitation, and occasionally lighting and thunder. For details on certain storm types, see thunderstorm, tornado, and tropical cyclone.
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