Prepare the required end-of-period adjusting entries for each independent case listed below.
Case 1: The Bramble Company began the year with a $2,520 balance in the Supplies account. During the year, $7,140 of additional supplies were purchased. A physical count of supplies on hand at the end of the year revealed that $6,972 worth of supplies had been used during the year. No adjusting entry has been made until year end.
Case 2: The Bridgeport Company has a calendar year-end accounting period. On July 1, the company purchased office equipment for $25,200. It is estimated that the office equipment will depreciate $168 each month. No adjusting entry has been made until year end.
Case 3: Marin Realty is in the business of renting several apartment buildings and prepares monthly financial statements. It has been determined that 2 tenants in $756 per month apartments and one tenant in the $840 per month apartment had not paid their December rent as of December 31.
The preparation of the required end-of-period adjusting entries for each independent case is as follows:
Adjusting Journal Entries:Case 1; The Bramble Company:
December 31
Debit Supplies Expenses $6,972
Credit Supplies $6,972
Case 2; The Bridgeport Company:
December 31
Debit Depreciation Expenses $1,008
Credit Accumulated Depreciation $1,008 ($168 x 6)
Case 3; Marin Realty
December 31
Debit Rent Receivable $2,352
Credit Rent Revenue $2,352
What are adjusting journal entries?Adjusting journal entries are entries made at the end of the accounting period to bring the accounts in line with the accrual concept and the matching principle of financial accounting.
These principles require that expenses are recognized when incurred and not when payment is made and that revenues are recognized when earned and not when cash is received.
Data Analysis:Case 1; The Bramble Company:
December 31 Supplies Expenses $6,972 Supplies $6,972
Case 2; The Bridgeport Company:
December 31 Depreciation Expenses $1,008 Accumulated Depreciation $1,008 ($168 x 6)
Case 3; Marin Realty
December 31 Rent Receivable $2,352 Rent Revenue $2,352
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Why did tech giants like SAP, Oracle, Microsoft, and IBM miss the opportunity to produce a SaaS CRM like Salesforce.com? What might keep large tech companies from identifying potential opportunities like Salesforce.com?
How do I answer this?
I believe it's best to stick with big tech firms like Salesforce.com for seeing possible business prospects because its software is getting simpler and easier to use all the time. 6.18.
Why is Salesforce so popular?Salesforce is particularly well-known for its capabilities in the areas of marketing campaign development and tracking, customer issue tracking based on escalation and resolution levels, graphic dashboards, and robust reporting functions.
How significant is Salesforce?Salesforce assists companies in tracking client contacts and sales information. It has the ability to manage leads, contacts, chances, and cases. Salesforce also provides a number of tools to assist companies in automating their sales and marketing procedures, including email marketing, lead generation, and lead scoring.
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The company XOXO is specialized in producing treadmills. The company allocates manufacturing overhead based on direct labor hours. XOXO estimated a total of $4,600 of manufacturing overhead that can be dispatched on all jobs. Moreover, the total direct labor hours that has been recorder during the period raises up to 460 hours. Job 12 consists of 30 sets of treadmills. The company’s records show that the following direct costs were requisitioned for Job 12: • Electronic parts: 40 units at $20 per unit • Plastic: 10 kilograms at $10 per kilogram • Labor hours: 60 hours at $25 per hour Requirement: 1. Calculate the predetermined manufacturing overhead (MOH) rate. 2. Analyze the cost per set (draw a table).
Answer:
XOXO
1. Predetermined Manufacturing Overhead (MOH) rate = estimated overhead divided by total direct labor = $4,600/460 = $10 per direct labor
2. Analysis of cost per set for Job 12:
Raw materials:
Electronic parts: 40 units at $20 per unit = $800
Plastic: 10 kilograms at $10 per kilogram 100
Labor hours: 60 hours at $25 per hour 1,500
Manufacturing overhead applied $10 per 600
labor hour
Total Cost $3,000
Divided by 30 sets = $100 per set
Explanation:
The manufacturing overhead rate is the rate at which overhead will be charged to the jobs completed as part of the cost of production. As an estimate, it can be overapplied or underapplied.
Finally, Kevin has a client who would like to invest into an account that earns 3% interest, which is compounded annually. The client opens the account with an initial deposit of $5,000, and deposits an additional $5,000 into the account each year thereafter. How much money is in the account after the tenth deposit, assuming no withdrawals or other deposits were made?
In light of the aforementioned circumstance, the account's balance (rounded to the closest dollar) following the tenth deposit is "$56,650."
The phrase "sinking fund" refers to the money set aside by individuals over a defined time period to save for a specific purpose, such as a future capital expense or the repayment of long-term debt. A sinking fund is a clever approach to save money by allocating a small sum each month toward a particular purchase. Sinking funds operate as follows: You'll put money down in one or more categories each month to be utilized later.
Herein shows the way to "$56,650."
\(S = N [ (1+r)^n - 1 ] /rwhere r = 0.030n = 10 yearsN = 5,000S = 5,000 [ (1.030)^10 -1 ]/.030= 5,000 [ 1.34 -1 ]/.030= 5,000 [ 11.33]= $56,650.\)
Accordingly, it can be said that "$56,650" is the right response in this case.
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The political candidates keep talking to the citizens about the possibility of a recession what would most likely happen if a country experience a recession
The thing that would MOST likely happen in this case if a country experiences a recession is D.Businesses will suffer from decreased sales and profits, eventually leading to closure
What is recession ?Recession, in economics, can be described as the downward trend in the business cycle.
Itshouldbe nopted that this can be seen as the decline in production and employment, whereby the incomes and spending of households to decline and as a result of thisthere would be hunger sa well as hardship in the country for this cause.
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missig part
What would MOST likely happen if a country experiences a recession?
A.
Feeling confident in the economy, people will begin to spend money more freely.
B.
Jobs will be more plentiful, and companies will be doing a lot of hiring.
C.
Families will start to purchase larger and more expensive homes.
D.
Businesses will suffer from decreased sales and profits, eventually leading to
Concord Company sells merchandise on account for $5700 to Ivanhoe Company with credit terms of 2/10, n/30. Ivanhoe Company returns $1000 of merchandise that was damaged, along with a
check to settle the account within the discount period. What is the amount of the check?
$4700
$4606
$5586
$5606
Answer:
The right solution is Option b ($4606 ).
Explanation:
The given values are:
Company sells merchandise,
= $5700
Company returns,
= $1000
Now,
The amount of the check will be:
= \((5700-1000)\times 98 \ percent\)
= \((5700-1000)\times 0.98\)
= \(4700\times 0.98\)
= \(4606\) ($)
Consider the following data for two variables, x and y.
xi 4 5 7 8 10 12 12 22
yi 12 14 16 15 18 20 24 19
Enter negative values as negative numbers.
Compute the standardized residuals for these data (to 2 decimals).
Observation 1 -1.00 Observation 2 -0.40 Observation 3. 0.01 Observation 4. -0.48 Observation 5. 0.25 Observation 6. 0.65 Observation 7. 2.00 Observation 8 -2.16
Compute the leverage values for these data (to 2 decimals).
Observation 1 0.28
Observation 2 0.24
Observation 3 0.16
Observation 4 0.14
Observation 5 0.13
Observation 6 0.14
Observation 7 0.14
Observation 8. 0.76
Do there appear to be any influential observations in these data? 8
Does the scatter diagram indicate any influential observations? Explain.
If the leverage for an observation is greater , it is considered to have high leverage. Need Answer for this Question
Thus, we would conclude that observation 8 is an influential observation.
There appear to be an influential observations in these data as the mean of the leverage value is 0.75.
How to calculate the mean?From the data points given, the influential observation is observation 8. Here, the mean of the leverage value will be:
= 3 × 0.25 = 0.75
Also, the scatter diagram indicates influential observations as it's extreme to the x values.
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what are the threats for online shopping
To pay down the principal on your student loan right away, you should: A. pay more than the minimum payment each month. B. begin payments more than six months after leaving college. C. make payments in monthly installments. D. pay less now and more later
There will be a need to pay more than the minimum payment each month in order to pay down the principal on the student loan right away.
What is a Loan Principal?The Loan Principal means the initial size of the student loan that is expected to be paid back with an interest.
Hence, there will be a need to pay more than the minimum payment each month in order to pay down the principal on the student loan right away.
Therefore, the Option A is correct.
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who will be taxed in Transnet
The South African Mining Industry is very crucial to it's economy. Transnet is one of it's major players. Given that it had a set budget for the 2021/22 financial year, much of which was supposed to be financed by the mining sector, unfortunately, the sector delivered a shortfall.
If Transnet had performed on its nameplate capacity of 78 million tons rather than the 58 million tons delivered in 2021, the industry would have gained R32 billion in revenue. The sector lost R16 billion in sales by failing to meet its objective of 68 million tons.
Because of the above shortfall, assuming current market prices, more than a third of the R140 billion in tax scheduled to be paid from all South African mining firms.
Who is Transnet?
Transnet SOC Ltd is a significant South African rail, port, and pipeline corporation located in Johannesburg's Carlton Centre.
It was established as a limited business on April 1, 1990. The South African government's Department of Public Enterprises, or DPE, owns the majority of the company's equity.
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When is mortgage interest a tax deduction expense if it’s available in the current regulations?
Based on contemporary regulation rates, the mortgage interest is a tax-deductible expense if it’s available for the loan below or equal to the amount of $750,000.
What is Mortgage Interest?Mortgage Interest is a term that is used to describe the interest charged on a loan used to purchase a piece of property.
Generally, the mortgage interest is the amount of interest owed and it is calculated as a percentage of the total amount of the mortgage issued by the lender.
From another perspective, Mortgage interest is typically a tax-deductible expense for homeowners who itemize their deductions. The deduction is available for mortgage interest paid on a loan secured by a primary residence or second home, up to a maximum loan amount of $750,000.
Hence, in this case, it is concluded that the correct answer is a mortgage loan below or equal to the amount of $750,000.
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Juniper Design Limited of Manchester, England, is a company specializing in providing design services to residential developers. Last year the company had net operating income of $420,000 on sales of $1,500,000. The company’s average operating assets for the year were $1,700,000 and its minimum required rate of return was 15%.
Required:
Compute the company’s residual income for the year.
Answer: 165,000
Explanation:
To compute the company’s residual income for the year, we can use the formula:
Residual Income = Net Operating Income – (Minimum Required Rate of Return x Average Operating Assets)
Given: Net Operating Income = $420,000 sales = $1,500,000
Average Operating Assets = $1,700,000
Minimum Required Rate of Return = 15% = 0.15
Residual Income = Net Operating Income – (Minimum Required Rate of Return x Average Operating Assets)
Residual Income = $420,000 – (0.15 x $1,700,000)
Residual Income = $420,000 – $255,000
Residual Income = $165,000
Therefore, the company’s residual income for the year was $165,000.
What is a public sector wage bill ?
Answer:
Equal pay for equal work
Answer:
Wage bill (2016/2017)Marriott builds a hotel for $34 million and sells it to a banking
firm for $52 million. Marriott charges the banking firm 2-4 % of gross revenues to operate the hotel. This business transaction is
known as
franchising
REIT
investment partnership
management contract
Answer:
management contract
Explanation:
Jenna began the year with a tax basis of $45,000 in her partnership interest. Her share of partnership debt consists of $6,000 of recourse debt, and $10,000 of nonrecourse debt at the beginning of the year, and $6,000 of recourse debt, and $13,000 of nonrecourse debt, at the end of the year. During the year, she was allocated $65,000 of partnership ordinary business loss. Jenna does not materially participate in this partnership, and she has $4,000 of passive income from other sources.A) How much of Jenna's loss is limited by her tax basis?B) How much of Jenna's loss is further limited by her at-risk amount?C) How much of Jenna's loss is further limited by the passive activity loss rules?
Answer:
a) Jenna's tax basis = $45,000 + ($13,000 - $10,000) = $48,000
loss allocation = $65,000
loss limited by her tax basis = $65,000 - $48,000 = $17,000
b) Jenna's at risk loss = $48,000 - $13,000 = $35,000
c) Jenna's loss limited by passive activity = $35,000 - $4,000 = $31,000
The amount of loss limited by Jenna’s tax basis is $20,000; the amount of Jenna’s loss that is further limited by her at-risk amount is $10,000; and the amount of Jenna’s loss that is further limited by the passive activity loss rules is $31,000.
What is Tax -Basis?The basis for each partner's tax base is the sum of the partner's contribution amount and the share of the debt and any income earned. Distribution reduces the partner tax base.
Calculations of The Amount of Loss Limited Tax Basis, At-Risk Amount, and Passive Activity Loss Rules:
a) Amount of loss limited by Jenna’s tax basis is Loss allocated to Jena – Jena’s Tax Basis.
\(\rm\,Amount\; of \;loss \;limited\; by \;Jennas\; tax\; basis\; = \$65,000 - \$45,000\)
Amount of loss limited by Jenna’s tax basis is $20,000
B) The amount of Jenna’s loss that is further limited by her at-risk amount can be calculated as follows: is At-risk limitation - Amount of loss limited by Jenna’s tax basis (1)
Where:
\(\rm\, At-risk\, limitation = Loss \,allocated \,to \,Jena - At\,-risk \,amount\, limitation\, \\\\= \,Loss\, allocated\, to\, Jena\, - (\,Tax \,basis\, - Nonrecourse\, Debt)\)
\(= \$65,000 - (\$45,000 - \$10,000) \\= \$30,000\)
Substituting the relevant values into equation (1), we have:
Amount of Jenna’s loss that is further limited by her at-risk amount
\(= \$30,000 - \$20,000\\ = \$10,000\)
C) The amount of Jenna’s loss that is further limited by the passive activity loss rules can be calculated as follows:
Amount of Jenna’s loss that is further limited by the passive activity loss rules:
\(= \rm\,At-risk\; amount \;limitation - Passive \;income \\= Tax \;basis - Nonrecourse\; Debt) - Passive \;income \\= (\$45,000 - \$10,000) - \$4,000 \\= \$31,000\)
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The Green Giant has a 4 percent profit margin and a 40 percent dividend payout ratio. The total asset turnover is 1.5 times and the equity multiplier is 1.4 times. What is the sustainable rate of growth?
Answer:
sustainable growth rate = 5.04%
Explanation:
the sustainable growth rate = retention rate x return on equity
retention rate = 1 - dividend payout ratio = 1 - 40% = 60%return on equity = profit margin x asset turnover x equity multiplier = 4% x 1.5 x 1.4 = 0.084 = 8.4%sustainable growth rate = 0.6 x 8.4% = 5.04%
the mathematical explanation on how I determined ROE:
equity multiplier = total assets / equity
1.4 equity = total assets
total assets turnover = net sales / total assets
1.5 = net sales / 1.4 equity
2.1 equity = net sales
profit margin = net profit / net sales
net sales = net profit / 0.04
2.1 equity = net profit / 0.04
2.1 x 0.04 = net profit / equity = ROE = 0.084
If government regulations are enforced to reduce corruption, then: the demand for investment will fall. businesses would lower their investment . the demand for loanable funds will shift left. the demand for loanable funds will shift right.
If government regulations are enforced to reduce corruption, then: c. the demand for loanable funds will shift left.
What is government regulations?Government laws that are successfully put into practise to combat corruption enhance the business climate and boost economic confidence.
As a result, companies are likely to become more dependable and trustworthy, which will reduce the demand for loanable cash. Businesses might not need as much outside funding if there is less corruption to decrease the risks brought on by corrupt practises or to get around obstacles to doing business.
Therefore the correct option is C.
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A trial balance may an prove that debits credits are but equal, but an amount could be entered in the wrong account. a transaction could have been entered twice. a transaction could have been omitted all of these answer choices are correct. How do these prepaid expenses expire? Rent Supplies Through use and consumption Through use and consumption Through use and consumption With the passage of time With the passage of time With the passage of time with the passage of time Through use and consumption
Prepaid expenses expire through use and consumption, meaning that as the goods or services for which the expenses were incurred are used or consumed, the prepaid expense is depleted.
For instance, if a business pays the rent six months in advance, the expense for the prepaid rent will go down each month until it is used up completely.
Similar to how pre-paid insurance premiums diminish when they are utilized to cover claims or other expenses, pre-paid supplies will be consumed as they are used in the production process.
Companies can better manage their cash flow and make sure that their financial statements are correct by being aware of how prepaid expenses expire.
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________ is a common sales indicator which tells how well the hotel has fully utilized the room resources to maximize profit.
GOPPAR is a common sales indicator which tells how well the hotel has fully utilized the room resources to maximize profit.
Gross operating profit per available room is a hospitality enterprise metric that measures the connection between a hotel's sales and fees, offering a higher photograph of your inn's monetary health
GOPPAR is the abbreviation for gross running profit per to be had room, a key overall performance indicator for the inn enterprise.
First, you need to parent out the lodge or hotel's gross operating earnings. To do that, subtract operating prices from gross sales. From there, surely divide the motel's gross running earnings by means of the full wide variety of to be had rooms.
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One reason why firms might want to pursue a strategic alliance strategy is to exploit
economies of scale. Exploiting economies of scale should reduce firm’s costs. Does this
mean that a firm pursuing an alliance strategy to exploit economies of scale is actually
pursuing a cost leadership strategy? Why or why not? Support your answer
So, a strategic alliance may benefit the combined group in two ways: one, it will enable them to target larger clients without facing significant rivalry
Economies of scale, which are commonly assessed by the quantity of product provided per unit of time, seem to be the cost savings that businesses gain as a result of the significant scale of the economy.
In order to lower manufacturing costs, economies of scale is the method of producing any good at a very high volume. Strategic alliances allow two businesses to more effectively merge their operations.
It will enable them to lower costs through economies of scale. Additional benefits of economies of scale include lower prices for goods or cost focus in the marketplace.
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Payton Inc. reports in its Year 7 annual report, sales of $7,362 million and cost of goods sold of $2,945 million. For next year, you project that sales will grow by 3% and that cost of goods sold percentage will be 1 percentage point higher. Projected cost of goods sold for Year 8 will be:
THe answer is scjkgnsgjnDVDJ
psychographics refers to variables associated with people who may want to purchase the product, such as age, gender, race, nationality, residency (the area the person lives in), and income level.
Psychographics is not the one that refers to variables associated with people who may want to purchase the product, such as age, gender, race, nationality, residency (the area the person lives in), and income level.
It is the demographics. Hence, the given statement is false.
Population dynamics and dimensions are examined and measured in demographic analysis, which can be applied to entire civilizations or specific groups based on factors like education, ethnicity, nationality, and religion.
Any medical facility's fundamental data, including patient demographics, emergency contact information, and medical record data, comes from its patients.
Even though there are a number of autonomous demography departments, educational institutions often treat demography as a subfield of sociology.
The phrase "psychographics" does not refer to characteristics of potential customers, such as age, gender, race, country, residency (the place of residence), and income level. The demographics are to blame.
Therefore, the given statement is false.
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The complete question has been attached in text form:
T/F: Psychographics refers to variables associated with people who may want to purchase the product, such as age, gender, race, nationality, residency (area the person lives in), and income level.
The following histogram summarizes the amount spent on plane tickets to travel home, in dollars, for a group of 30 students. If the interval size decreased from $200 to $100, which of the following must remain the same on the new histogram?
On the new histogram, the total frequency must remain constant.
Is a score that compiles scores from a distribution a representative score?A statistic known as central tendency identifies a single score as the representative of the entire distribution. Finding the single score that is most typical or representative of the entire group is the aim of central tendency.
Given that the set mean is 24 and the standard deviation is 27, what is the z-score of 27?The z-score is obtained by dividing the difference between the value, 27, and the mean, 24, by the standard deviation of the set, 2. 27 is therefore 1.5 standard deviations above the mean, according to the data.
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Write a whole number between 1 and 10, and then write its reciprocal.
Answer:
one whole number is 5 and reciprocal is 1/5.
Explanation:
hope this helps
Answer: 5 , 0.2
Explanation:
whole number: 5
reciprocal: 0.2
hope this helps
Frank is worried about identity theft. He does not like to give access to his checking account to anyone but the bank.
What is the best option for him to pay his bills?
O Frank should telephone in his payment to the company.
Frank should pay his bill online.
Frank should set up automatic withdrawals for the company he is paying.
O Frank should mail a check to the company.
Answer:
Frank should mail a check to the company.
Explanation:
Got it right on Edge!
Frank should mail a check to the company.
What is a mail?A system for physically delivering postcards, letters, and packages is known as the mail or post. The term "mail" in American English often refers to the government service that collects and delivers letters and packages. Anything that is sent to your mail box or post office box is considered mail, including letters, bills, packages, periodicals, and other items sent by the postal service. The equivalent of mail on the internet is email.
In addition to conveying mail, postal authorities frequently perform other duties. In some nations, a postal, telegraph, and telephone (PTT) service also manages the telephone and telegraph networks in addition to the postal system.
What is a company?A group of people can get together to form a company, which is a legal body used to conduct and manage commercial or industrial business operations. Either public or private companies can exist; the former distributes equity to shareholders on a stock exchange, whereas the latter is privately held and unregulated. Companies have a significant role in the health of an economy by providing jobs and luring in disposable income to fuel expansion. The business lines of an organization rely on its structure, which can be a company, a partnership, or even a sole proprietorship. A company can engage into contracts, sue (or be sued), borrow money, pay taxes, own property, and employ people, among other legal rights and obligations, just like an individual can.
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We may request personal information when you register to receive additional information ________ our products and services.
A. regards
B. regarded
C. regarding
D. regarding to
Answer:
D) Regarding to
How To Find The Best Luxury Portable Restrooms In Sacrament
Research reliable agencies with tremendous opinions, lots of restroom options, and exact customer support. Ask for referrals and reach out for a quote.
To locate the great luxury transportable restrooms in Sacramento, you can start with the aid of learning from reputable corporations specializing in luxurious transportable restroom rentals. Look for groups with nice purchaser opinions and quite a few restroom alternatives to pick from. Consider factors along with the restroom's length, amenities, and cleanliness.
You also can ask for referrals from pals, a circle of relatives, or event planners who've used luxurious portable restrooms in the past. Once you have got a listing of ability agencies, attain out to them to talk about your desires and obtain a quote.
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Creative and innovative
A creative innovation is bringing about something unique and different.
What is creativity?Creativity is the ability to imagine something unique or new that have not been in existence.
It could also be a modification to what have been existing before.
Therefore, A creative innovation is bringing about something unique and different.
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what is your analysis on walmart financial health as of january 2021 compare to 2022
If you were Marshall’s manager how might you increase Marshall’s awareness of the negative impact he is having on his team?
As Marshall's manager, I would increase his awareness of the negative impact he is having on his team by providing specific and constructive feedback on his behavior and its consequences. This would involve having open and honest conversations with Marshall, highlighting examples of how his actions are affecting team morale, productivity, and collaboration.
In order to effectively address Marshall's negative impact on his team, it is important to approach the situation with clarity and professionalism. By providing specific examples of incidents where Marshall's behavior has caused harm, I can help him understand the direct consequences of his actions. This feedback should be delivered in a constructive manner, focusing on the behaviors rather than attacking his character.
By emphasizing the impact on team dynamics, performance, and overall work environment, Marshall can begin to see the need for change. Additionally, it would be beneficial to discuss alternative approaches and provide guidance on how he can improve his interactions with the team. Ongoing feedback and support from me as his manager can help Marshall recognize the negative impact he is having and encourage him to take steps towards positive change.
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