The answer is $80,000,
140,000-60,000=$80,000 This is not the same as gross income, which simply subtracts the cost of goods sold net income from revenue.
In the context of business and accounting, net income—also referred to as total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales—refers to an entity's income less its costs of goods sold, expenses, depreciation and amortisation, interest payments, and taxes for a particular accounting period. The net increase in shareholders' equity as a result of a company's operations is another way to define it. It is determined by subtracting all expenses and losses from the period's income and gainsIncome (gross) less any relevant taxes and other deductions equals net income for families and individuals.
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______ is defined as a business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying and consolidating separate products and services from several suppliers.
Pilihan jawaban
Modified rebuy
Straight rebuy
New task buying
Systems selling
Supplier development
A business strategy where business buyers prefer to buy a complete solution to a problem from a single seller rather than buying a consolidating separate products and services from several suppliers is Systems selling. Option E
What is Systems Selling?Systems selling is a sales process or is a sales strategy of selling interrelated goods or similar goods and services together as a bundle in orders increase and boost profits margin instead of selling them separately or independently.
Under systems selling, the goods that are clubbed together are mostly complimentary goods. This enhances manufacturer sales or increase the volume sales more and also helps the customer to purchase similar product that will save time in looking for each product
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Kiboshny Co. is desperate to remain in good standing with its long-term debt covenants. Which of the following measures, if not detected by the auditor, might allow Kiboshny to fraudulently overstate its current ratio?
-Improperly Classifying Current Debt as Noncurrent
-Improperly Recording Expenses as Debits to Retained Earnings
-Failing to Record Interest Expense on Long-Term Debt
A. Yes, Yes, Yes
B. Yes, No, Yes
C. Yes, Yes, No
D. Yes, No, No
Therefore, B is the right response. True, False, True Divide current assets by current liabilities to get the current ratio. The current ratio can therefore be overstated if current assets or liabilities are overstated or understated, respectively.
The option that would understate current liabilities and prevent Kiboshny from falsely inflating its current ratio is "Improperly Classifying Current Debt as Noncurrent." Kiboshny would not be able to falsely inflate its current ratio since "Improperly Recording Expenses as Debits to Retained Earnings" is unrelated to the current ratio. Understating current obligations would enable Kiboshny to falsely inflate its current ratio by "Failing to Record Interest Expense on Long-Term Debt." Therefore, B is the right response. True, False, True. Debt that must be repaid over a longer period of time is referred to as long-term debt. It symbolises a business' commitment to repay borrowed money to creditors or investors over a protracted period of time. Major purchases like the purchase of real estate, machinery, or other long-term assets are frequently financed through long-term debt.
Bonds, loans, and mortgages with a duration of longer than one year are examples of long-term debt. The principal amount is typically repaid at the conclusion of the loan term, and interest is often paid on a quarterly basis.
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suppose you are the manager of a local coffee shop and you are looking for a way to attract and retain new customers. you hope to leverage your tps to keep consumers engaged with the brand. establishing is a good way to offer incentives and rewards while collecting data.
In order to maintain consumer interest in the brand, you hope to use your TPS. A smart strategy to provide incentives and rewards while gathering data is to establish "a loyalty program."
Define the term a consumers loyalty program?The customer loyalty program is indeed a marketing strategy that, by definition, acknowledges and compensates customers who interact with or make repeat purchases from a company.
As a customer makes additional purchases, a business may award points or benefits that advance them to greater levels of loyalty. Customers that contact with a brand frequently are rewarded with customer loyalty programs. It's a method for keeping clients by enticing them to keep purchasing from your company rather than one of your rivals. Customers receive more rewards the more they spend or interact with the brand.Imagine you are indeed the manager of a neighborhood coffee shop and you are trying to figure out how to get and keep new customers.In order to maintain consumer interest in the brand, you hope to use your TPS.Thus, a smart strategy to provide incentives and rewards while gathering data is to establish "a loyalty program."
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The complete question is-
Suppose you are the manager of a local coffee shop and you are looking for a way to attract and retain new customers. You hope to leverage your TPS to keep consumers engaged with the brand. Establishing ______ is a good way to offer incentives and rewards while collecting data.
Variations between business cycles most likely are attributable to which of the following factors?
a. Opportunity costs.
b. Duration and intensity.
c. The law of diminishing returns.
d. Comparative advantage.
Answer:
B. Duration and intensity is the correct answer.
Explanation:
A _______ (one word) refers to a group of buyers and seller who exchange one specific good, service, or resource, not necessarily to a specific place.
A market refers to a group of buyers and seller who exchange one specific good, service, or resource, not necessarily to a specific place.
Exchange refers to the act of giving or receiving something in return for something else. It is a fundamental concept in economics, commerce, and trade, as it enables people to acquire the goods, services, or resources they need from others in exchange for what they can offer. The exchange may take different forms such as barter, currency exchange, or stock exchange, depending on the context and the nature of the transaction.
In a market economy, exchange occurs when buyers and sellers come together to engage in trade. The price of the goods or services exchanged is usually determined by supply and demand, as well as other factors such as the cost of production, availability, and competition. Exchange is critical in facilitating the allocation of resources and the distribution of wealth in a society.
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The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's:
A. market makers.
B. economic environment.
C. stakeholders.
D. social mentors.
The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's C. Stakeholders.
Stakeholders are individuals, groups, and organizations that have an interest or concern in an organization. They can affect or be affected by the organization’s actions, objectives, and policies. In other words, stakeholders are those who have a “stake” in a company’s success or failure.
Stakeholders may include customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business.
The relationship between stakeholders and a firm is complex and dynamic. Stakeholders can have both positive and negative impacts on a firm.
For example, customers may provide the firm with revenue, while employees provide labor and skill. On the other hand, creditors may require the firm to make debt payments while suppliers may require the firm to purchase their materials.
As a result, it is important for firms to understand the interests of each of their stakeholders and to maintain good relationships with them.
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the beginning and ending balances of retained earnings for the year were $90,000 and $105,000, respectively. if dividend payments made during the year were $9,000, determine the net income or net loss for the year. use a negative sign with your answer to indicate a net loss, if applicable.
If $9,000 worth of dividends were paid out during the year, the net profit was $24,000.
Retained Gains: What is it?Retained Earnings is a balance sheet equity account that is displayed. It grows when net income is closed at the end of the accounting period and has a consistent credit balance. As dividends are paid and net losses rise, IT declines.
How should beginning and ending retained earnings be incorporated into net income?When calculating net income using retained earnings, commencing retained earnings, which are the recorded retained earnings from the prior financial period, must be adjusted for dividends.
Net Profit- What is it?The money your company makes after deducting all of its operational, interest, and tax costs during a specific time period is known as net profit. You must be aware of a company's gross profit in order to calculate this figure. Net loss is what is produced when net profit is less than zero.
Beginning Retained Earnings- $90,000
Ending Retained Earnings- $105,000
Dividend Payments- $9,000
Ending Retained Earning= Beginning Retained Earning + Net Income - Dividend Payment
$105,000= $90,000 + Net Income - $9,000
$105,000= $81,000 + Net Income
$105,000 - $81,000= Net Income
Net Income= $24,000
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Look at the graph and answer the questions. Capital goods 150 2 60 501 0 Fig. 4.3: A country's PPC 200 300 380 Consumer goods 1 if a country is producing at point X, what is its output of capital goods and consumer goods? if a country's output moves from point X to point Y, how many more capital goods and how many more consumer goods will it produce? 3 What is the maximum number of capital goods that can be produced if all resources are devoted to capital goods?
The graph represents a country's Production Possibility Curve (PPC). The PPC shows the maximum combination of two goods (capital goods and consumer goods) that a country can produce with its available resources and technology.
What is PPC?A production possibilities curve in economics measures the maximum output of two goods using a fixed amount of input.
If a country is producing at point X, its output of capital goods is 60 units and its output of consumer goods is 300 units.
If the country's output moves from point X to point Y, it will produce 50 more units of capital goods and 80 less units of consumer goods.
The maximum number of capital goods that can be produced if all resources are devoted to capital goods is 501 units, as shown by the y-intercept of the PPC.
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Suppose Susan can wash three windows per hour or she can iron six shirts per hour. Paul can wash two windows per hour or he can iron five shirts per hour. Susan has an absolute advantage over Paul in washing windows, Susan has a comparative advantage over Paul in washing windows O Paul has a comparative advantage over Susan in ironing shirts. All of the above are correct.
Supposing that Susan can wash three windows per hour or she can iron six shirts per hour and Paul can wash two windows per hour or he can iron five shirts per hour, then,
Susan has an absolute advantage over Paul in washing windowsSusan has a comparative advantage over Paul in washing windowsPaul has a comparative advantage over Susan in ironing shirtsThe Option D is correct.
What is absolute and comparative advantage?Absolute advantage refers to a situation in which a country, company, or individual can produce a particular good or service more efficiently than another country, company, or individual. In other words, they are able to produce more output with the same or fewer resources.
Comparative advantage, on the other hand, refers to a situation in which a country, company, or individual can produce a particular good or service at a lower opportunity cost than another country, company, or individual. This means that they have a lower opportunity cost for producing that good or service compared to producing other goods or services.
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T/F under the theory of negligence, the duty of care requires one person to aid another who has suffered harm from someone's negligence.
The statement is True.The failure to apply the appropriate and/or ethically required care that is anticipated to be applied in a given scenario is referred to as negligence.
A subset of tort law known as negligence deals with injury caused by being careless or failing to act, often with the help of mitigating circumstances. The basic tenet of negligence is that people should act reasonably, taking into account any potential harm they may unavoidably do to other people or property. It may be possible for someone who suffers loss as a result of another's negligence to make a claim for damages to compensate them for their losses. Such loss could manifest as bodily harm, material loss, mental illness, or financial loss. A broad evaluation
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T/F using historical data to make informed decisions about how things may be in the future is an example of discovering connections.
The given statement "Historical data will make informed decisions about how many things may be in the future is an example of a discovering connections" is false. Because it is an example of forecasting or predictive analytics.
Discovering connections involves identifying patterns or relationships in data that may not be immediately apparent, such as correlations or causal relationships. This can involve using statistical methods and machine learning algorithms to identify these connections and use them to gain insights into the data.
Both forecasting and discovering connections are important techniques for gaining insights and making informed decisions, but they involve different approaches and methods.
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choose a current event or issue in your community and discuss the business implications. propose a solution that incorporates business principles or practices. the review panel will look for creativity, drawing connections, and originality. reddit
One current issue in my community is the lack of affordable housing.
The rising cost of living, combined with a shortage of available properties, has made it difficult for many families to find safe and comfortable homes.
From a business perspective, this creates an opportunity for developers and investors to create affordable housing projects that meet the needs of low-income families.
One solution could be to offer tax incentives to businesses that invest in affordable housing projects or to provide funding for non-profit organizations that specialize in this area.
Another approach could be to create partnerships between businesses and community organizations to provide job training and support services that help low-income families build wealth and become homeowners.
These solutions would not only benefit the community, but they would also create a new market for businesses and investors looking to make a positive impact on society.
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How do you determine whether each of the individuals is considered unemployed or not unemployed?
A person must not have a job, be available to work, and have been actively looking for work in the past four weeks in order to be considered unemployed.
What are the fundamental ideas behind unemployment and employment?The fundamental ideas involved in determining who is employed and who is unemployed are fairly straightforward: Employed people have jobs if they are jobless, looking for work, and willing to work
Who is considered unemployed in India?A person is considered unemployed for the day if they do not have any gainful employment, even for just one hour in a day. The Weekly Status Method: This method emphasizes the records of people who did not have a job that paid well or were unemployed even for an hour on any day of the week prior to the survey date.
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open and review bloomberg's fa esg screen for icici bank. what can we learn from the bank's esg disclosures
Based on the Bloomberg's FA ESG screen for ICICI, we can learn from banks’ ESG disclosures that Bank does not consistently disclose data on energy consumption. (Option C)
Bloomberg is the primary distributor of financial data in the world. Bloomberg’s Environmental, Social & Governance (ESG) dataset provided ESG metrics and ESG disclosure scores for over 14,000 companies in more than 100 countries. The Bloomberg product provides as-reported data and derived ratios along with sector and country-specific data points.
ESG <GO> is a Bloomberg Terminal function that offers sustainability data about business environmental, social and governance metrics, such as greenhouse gas emissions intensity, energy resource consumption and workplace diversity. It offers an overview of a business’s support of sustainability initiatives and associated ranking of its performance to industry peers.
Based on Bloomberg's FA ESG screen for ICICI, it is seen that from banks’ ESG disclosures that Bank does not consistently disclose data on energy consumption.
Note: The question is incomplete. The complete question probably is: Open and review Bloomberg's FA ESG screen <GO> for ICICI bank. What can we learn from the bank's ESG disclosures. A) The average age of ICICI Bank's Board of Directors is decreasing. B) ICICI Bank discloses more Environmental data points than Governance data points. C) Bank does not consistently disclose data on energy consumption. D) Bank does not have many policies in place to protect its employees.
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Select the best answer for the question
12. Emails asking for your Social Security number, banking information, or credit card numbers are
O A. encrypted messages.
O B. from secure companies.
O C. to be trusted.
O D. phishing messages.
D. phishing messages.
Emails asking for your Social Security number, banking information, or credit card numbers are often fraudulent attempts to steal your personal information and are known as "phishing" messages. These emails may appear to be from a legitimate source or company but are actually sent by scammers with the intention of obtaining sensitive information that can be used for identity theft or other fraudulent purposes. It is important to be cautious and never share personal information in response to unsolicited emails.
Ghostrider offers Batman his bicycle for $75. Which of the following is an example of an illusory promise on the part of Batman? "I'll take it if I decide to do so."
("I'll take it if I decide to do so."
"I won't pay $75, but I will pay $50."
"I'll take it."
"I'll take it if you will buy new tires." )
Batman receives a $75 bicycle offer from Ghostrider. As an example of a illusory promise by Batman, consider his statement, "I'll take it if I decide to do so."
Illusory Promise: What is it?A commitment that is unenforceable because it is vague or lacking mutuality and just one person is expected to fulfill it. An example of this is a contract between a vendor and a buyer in which the seller "agrees to sell all of the ice cream he wants to" to the buyer.
Why is a false promise not a relevant factor? It is what?Phantom promises are those that are not enforceable. This is so that there is no mutuality or indefiniteness and only one person is required to comply. When a promise is illusory because it is founded on deceit or has uncertain limitations, it is unclear what has to be done or whether performance is necessary.
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when discussing investing with your client, all of the following would be considered recommendations except
When discussing investing with a client "discussing pros and cons of traditional IRAs and Roth IRAs" was not something that should be done.
These are would be considered recommendations when discussing investing with your client:
Advising on the benefits of day tradingsuggesting a particular investment strategySuggestions about different market sectors.An individual Retirement Account (IRA) is a tax-advantaged investment account designed to help you save toward retirement.
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according to the critical infrastructure sector risk snapshot, all of the following are first-order dependencies except:
The correct option is A, The Snapshots provide an advent to the various array of critical infrastructure sectors, pertaining to some of the key threats and hazards concerning the sectors, and highlighting the common, first-order dependencies and interdependencies between sectors.
Critical infrastructure refers to the essential systems, facilities, and networks that are vital to the functioning of a society, economy, and national security. These include power grids, transportation systems, water and sewage systems, communication networks, financial institutions, hospitals, and emergency services, among others. Critical infrastructure is critical because any disruption, destruction, or impairment of these systems can cause significant harm to human health, safety, and welfare, as well as economic and national security.
Such disruptions can be caused by natural disasters, cyber attacks, terrorist attacks, or other malicious acts. To ensure the security and resilience of critical infrastructure, governments, private sector organizations, and individuals must work together to identify and mitigate vulnerabilities, develop contingency plans, and enhance preparedness and response capabilities.
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Complete Question: -
According to the critical infrastructure sector risk snapshot, all of the following are first-order dependencies and interdependencies between sectors except:
A. threats and hazards concerning the sectors
B. integrated throughout the steps of the framework
C. reliance within and among infrastructure assets and systems
D. server hardware, network capacity, storage capacity
consists of units of product that are only partially complete and will require further work before they are ready for sale to the customer. (enter only one word per blank.)
The term "work in process" refers to production units that are only partially finished and will need additional work before they are available for sale to clients.
How to sell to Customers ?Learn how to hone your sales abilities, including developing rapport with clients, determining their needs, choosing and presenting products to clients, responding to inquiries and objections, and closing deals.
The fundamentals of sales Creating favorable initial impressions speaking abilities for sales Selling abilities through nonverbal communication Sales are boosted by excellent customer service.
selling complicated or expensive goods The procedure for making a sale Know your goods and services. successfully negotiating
The fundamentals of sales Businesses' ability to convince customers to purchase their goods and services
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closing entries result in the transfer of net income or net loss into the retained earnings account.T/F
The statement "closing entries result in the transfer of net income or net loss into the retained earnings account" is true.
Closing entries are made at the end of an accounting period to close temporary accounts such as revenues, expenses, gains, and losses. The purpose of the closing entries is to reset the balances of these accounts to zero and transfer the net income or net loss to the retained earnings account.
This is because temporary accounts only track the transactions for a single accounting period, and the balances in these accounts do not carry forward to the next accounting period.
Retained earnings, on the other hand, is a permanent account that accumulates the net income or net loss from all previous accounting periods, and the closing entries update this account with the current period's net income or net loss.
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which of the following is a leakage from the circular flow of economic activity? which of the following is a leakage from the circular flow of economic activity? saving government spending exports investment
The correct answer is A Consumption spending economic activity is the study of how economies function and the activities and interactions of economic agents.
The study of microeconomics examines what are thought to be the fundamental components of the economy, such as individual agents, markets, and the relationships that result from those interactions. economic activity of individual agents include homes, businesses, buyers, and sellers. Macroeconomics examines the economy as a system in which production, consumption, saving, and investment coexist, as well as factors influencing it such as the employment of labour, capital, and land resources, currency inflation, economic growth, and public policies that have an effect on these components.Other significant divisions within economics include those between normative and positive economics, which advocate "what ought to be" and "what is," respectively;[4] between economic theory and applied economics; between rational and behavioural economics; and between mainstream and heterodox economics.
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Complete question is here:
Which of the following represents a leakage from the circular flow in an economy?
answer choices
A Consumption spending
B Government spending
C Investment spending
D Unemployment benefits
E Imports
When a firm uses its brand to expand into new product categoriesA) family branding B) category extensionsC) national brands
The correct answer is B) category extensions. Category extension is a marketing strategy where a company uses its brand to launch a new product in a different product category.
By leveraging the strength and recognition of an established brand, a company can increase its chances of success in a new product category. This strategy is often used by companies to achieve economies of scale, create synergies across product lines, and reduce marketing costs. One of the key benefits of category extensions is that they allow companies to target new customer segments while leveraging their existing brand equity. By using a recognizable brand name, a company can quickly gain traction in a new market and attract customers who are loyal to the brand. Additionally, category extensions can help companies diversify their product offerings, reduce risk, and improve profitability. However, category extensions are not without risks. One risk is that the new product category may not be a good fit for the existing brand. For example, a company that produces sports drinks may not be able to successfully extend its brand into the luxury watch category. Another risk is that the new product category may dilute the brand's core values or positioning. This can lead to confusion among customers and a loss of brand equity. In conclusion, category extension is a powerful marketing strategy that can help companies expand into new product categories using an existing brand. By leveraging brand equity, companies can achieve economies of scale, reduce marketing costs, and target new customer segments. However, companies must carefully consider the risks and ensure that the new product category is a good fit for the existing brand.
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On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $24,000; Accounts Receivable, $7,650; Supplies, $1,000; Equipment, $12,450; Accounts Payable, $9,700. What is the amount of stockholders' equity as of May 31 of the current year? Multiple Choice $54,800 $13,150 $24,000 $35.400
The amount of stockholders' equity as of May 31 of the current year for Riser, Inc. is $35,400.
In accounting, equity is the residual interest in the assets of an entity after deducting its liabilities. In simpler terms, equity represents what's left for the owners of a company after all its debts are paid.
Now, let's look at the given information to calculate Riser, Inc.'s stockholders' equity. As of May 31 of the current year, the assets and liabilities of the company are:
Assets:
Cash $24,000
Accounts Receivable $7,650
Supplies $1,000
Equipment $12,450
Total assets: $45,100
Liabilities:
Accounts Payable $9,700
Total liabilities: $9,700
To find the stockholders' equity, we need to subtract the total liabilities from the total assets.
Stockholders' equity = Total assets - Total liabilities
Stockholders' equity = $45,100 - $9,700
Stockholders' equity = $35,400
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Preparing a Trial Balance During the month of May, Apex Industries recorded a $3,000 debit to an expense account. Which of the following explanations of this transaction is the MOST accurate? This entry indicates that Apex incurred $3,000 in expenses. It also suggests that the firm may have recorded a $3,000 debit to an asset account in order to offset the corresponding decrease in shareholders' equity. This entry indicates that Apex incurred $3,000 in expenses. It also suggests that the firm may have recorded a $3.000 debit to an asset account in order to offset the corresponding increase in shareholders' equity, This entry indicates that Apex incurred $3,000 in expenses. It also suggests that the firm may have recorded a $3.000 credit to an asset account in order to offset the corresponding increase in shareholders' equity, This entry indicates that Apex incurred $3,000 in expenses. It also suggests that the firm may have recorded a $3,000 credit to an asset account in order to offset the corresponding decrease in shareholders' equity Submit Answer Save for Later
Apex spent $3,000 in costs, according to this record. It also implies that the company recorded a $3,000 credit to an asset account to offset the equivalent drop in stockholders' equity.
What is trial balance?A trial balance is a set of credit and debit entries used by firms to audit their double-entry accounting systems internally. The purpose is to ensure that the total of all debits equals the total of all credits and to detect any entries that have been entered in the incorrect account. Trial balances are an important document for auditors since they are used to create balance sheets and other financial statements. A trial balance is performed to ensure that the debit and credit column totals of the general ledger accounts match, which aids in the detection of accounting problems. The trial balance is a list of all the accounts used by a corporation, including balances in debit and credit columns. Unadjusted trial balances, adjusted trial balances, and post-closing trial balances are the three forms of trial balances. All three follow the same format.
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Which of the following costs would be classified as a direct cost for a company that produces
motorcycles? A) Seats used in the motorcycles
B) Rest of manufacturing facility that produces motorcycles
C) Wages of motorcycle assembly workers
D) Both Seats used in the motorcycles and Wages of motorcycle assembly workers are correct.
The options that falls under the costs would be classified as a direct cost for a company that produces motorcycles are
A) Seats used in the motorcycles
C) Wages of motorcycle assembly workers
D) Both Seats used in the motorcycles and Wages of motorcycle assembly workers are correct
option (A), (C) and (D) are correct.
A direct cost is a cost that can be directly attributed to the production of a specific product or service. In other words, it is a cost that can be traced back to a particular item that a company produces.
Now, let's look at the options given and identify which one(s) are direct costs for a company that produces motorcycles.
Option A) Seats used in the motorcycles: This cost can be directly attributed to the production of motorcycles, as seats are an integral part of the product. Therefore, it is a direct cost.
Option C) Wages of motorcycle assembly workers: This cost can be directly attributed to the production of motorcycles as assembly workers are specifically hired to build motorcycles. Therefore, it is a direct cost.
Option D) Both Seats used in the motorcycles and Wages of motorcycle assembly workers are correct: As we have discussed, both of these costs can be directly attributed to the production of motorcycles. Therefore, they are both direct costs.
Hence the options (A), (C) and (D) are correct.
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inventory at the beginning of the year cost $13,200. during the year, the company purchased (on account) inventory costing $83,000. inventory that had cost $79,000 was sold on account for $94,200. at the end of the year, inventory was counted and its cost was determined to be $17,200.a. Calculate the cost of goods sold.b. What was the dollar amount of Gross Profit?
The cost of goods sold at $79,000 and he dollar amount of Gross Profit as per the information provided is = $15,000.
The movement in the balance of inventory at the beginning and ending balance is as a result of purchases and sales. This may be expressed mathematically as
opening balance + purchases - cost of goods sold = ending inventory
Given that Inventory that had cost $79,000 was sold on account for $94,000. Hence, the cost of goods sold is $79,000.
Gross profit is the difference/dissimilarity between the sales and cost of goods sold.
Gross profit = $94,000 - $79,000
= $15,000
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the following transactions pertain to year 1, the first-year operations of gibson company. all inventory was started and completed during year 1. assume that all transactions are cash transactions. 1.Acquired $12,000 cash by issuing common stock.
2.Paid $4,700 for materials used to produce inventory.
3.Paid $2,400 to production workers.
4.Paid $900 rental fee for production equipment.
5.Paid $350 to administrative employees.
6.Paid $400 rental fee for administrative office equipment.
7.Produced 400 units of inventory of which 360 units were sold at a price of $25 each.
The finished goods inventory ending balance would be $8,000 - $7,200 = $800.
Particulars Amount
Sales (360 units × $25) $9,000
Less: Cost of goods sold -$7,200
Gross profit $1,800
Less: rental fee -$400
Less: administrative employees -$350
Net income $1,050
The computation of cost of goods sold would be = Materials used to produce inventory + production workers + rental fee for production equipment = $4,700 + $2,400 + $900 = $8,000
Hence, the price of products sold would be
= $[tex]8,000 × 360[/tex]units ÷ [tex]400 units[/tex] [tex]= 7,200[/tex]
And, the ending balance of finished goods inventory would be = $8,000 - $7,200 = $800
mental or emotional stability; a propensity for restrained actions, good judgment, etc. For example, balance is required for everyday tasks like walking, climbing stairs, and even getting up from a seated position. You won't lose your balance and fall to the ground, for example, if you retain your balance while standing inside a moving car.
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Lester v. Albers Super Markets, Inc. 94 Ohio App. 313, 114 N.E.2d 529 (Ohio 1952) Facts: The plaintiff, carrying a bag of rolls purchased at another store, entered the defendant’s grocery store to buy some canned fruit. Seeing her bus outside, she stepped out of line and put the can on the counter. The store manager intercepted her and repeatedly demanded that she submit the bag to be searched. Finally, she acquiesced; he looked inside and said she could go. She testified that several people witnessed the scene, which lasted about fifteen minutes, and that she was humiliated. The jury awarded her $800. She also testified that no one laid a hand on her or made a move to restrain her from leaving by any one of numerous exits. * * * MATTHEWS, JUDGE. As we view the record, it raises the fundamental question of what is imprisonment. Before any need for a determination of illegality arises there must be proof of imprisonment. In 35 Corpus Juris Secundum (C.J.S.), False Imprisonment, § II, pages 512–13, it is said: "Submission to the mere verbal direction of another, unaccompanied by force or by threats of any character, cannot constitute a false imprisonment, and there is no false imprisonment where an employer interviewing an employee declines to terminate the interview if no force or threat of force is used and false imprisonment may not be predicated on a person’s unfounded belief that he was restrained." Many cases are cited in support of the text. * * * In Fenn v. Kroger Grocery & Baking Co., Mo. Sup., 209 S.W. 885, 887, the court said: A case was not made out for false arrest. The plaintiff said she was intercepted as she started to leave the store; that Mr. Krause stood where she could not pass him in going out. She does not say that he made any attempt to intercept her. She says he escorted her back to the desk, that he asked her to let him see the change. …She does not say that she went unwillingly…Evidence is wholly lacking to show that she was detained by force or threats. It was probably a disagreeable experience, a humiliating one to her, but she came out victorious and was allowed to go when she desired with the assurance of Mr. Krause that it was all right. The demurrer to the evidence on both counts was properly sustained. The result of the cases is epitomized in 22 Am.Jur. 368, as follows: A customer or patron who apparently has not paid for what he has received may be detained for a reasonable time to investigate the circumstances, but upon payment of the demand, he has the unqualified right to leave the premises without restraint, so far as the proprietor is concerned, and it is false imprisonment for a private individual to detain one for an unreasonable time, or under unreasonable circumstances, for the purpose of investigating a dispute over the payment of a bill alleged to be owed by the person detained for cash services.
1. List the elements of False Imprisonment.
2. Describe in your own words the Court's rationale for reversing the lower court.
The elements of false imprisonment are: 1) intentional confinement, 2) lack of consent, and 3) knowledge of confinement.
The court in Lester v. Albers Super Markets, Inc. reversed the lower court's decision to award damages for false imprisonment because the plaintiff failed to prove the necessary element of intentional confinement. The court determined that the plaintiff was not forcibly or physically restrained, and that submission to the manager's verbal demand did not amount to false imprisonment. The court also cited legal precedent that a customer may be detained for a reasonable time to investigate a dispute over payment, but not for an unreasonable time or under unreasonable circumstances.
False imprisonment is a tort that involves the intentional confinement of an individual without that person's consent or legal justification. To establish false imprisonment, the plaintiff must prove that they were intentionally confined, lacked consent to the confinement, and had knowledge of their confinement. In Lester v. Albers Super Markets, Inc., the court determined that the plaintiff did not meet the first element of false imprisonment because she was not physically restrained or forcibly detained. The court reasoned that submitting to the manager's demand did not constitute false imprisonment, and cited legal precedent that a customer may be detained for a reasonable time to investigate a dispute over payment. Ultimately, the court reversed the lower court's decision to award damages for false imprisonment because the necessary elements of the tort were not met.
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river company began the accounting period with a $132,000 debit balance in its accounts receivable account. during the accounting period, river company earned revenue on account of $180,000. the ending accounts receivable balance was $116,000. required based on this information alone, determine the amount of cash inflow from operating activities during the accounting period. (hint: use a t-account for accounts receivable. enter the debits and credits for the given events, and solve for the missing amount.)
If river company began the accounting period with a $132,000 debit balance in its accounts receivable account. the amount of cash inflow from operating activities during the accounting period is $196,000.
How to find the cash inflow?Cash inflow in accounts receivable accounts is the cash collections.
Cash collections = Beginning Accounts receivable + Revenue on account - Ending accounts receivable
Let plug in the formula
Cash collections = $132,000 + $180,000 - $116,000
Cash collections = $196,000
Therefore the cash inflow is $196,000.
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free trade: allows companies to conduct business without licenses permits people to buy and sell where they please establishes artificial barriers to trade is also called protectionism relies on bartering as its primary means of exchange
The free trade refers to the option "people to buy and sell where they please". The correct option is B.
The free trade in the term in the economics which refers to the imports and exports without any barrier or restrict. The free trade is also defined as the system in which no limits or tax on the international imports and export or activities.
The free trade is the policy where people to buy and sell their product or services where they want. It does not affect the imports or exports. The disadvantage of free trade is loss job, and free trade is not fair. The advantage of free trade is economic efficiency, less corruption and reduce likelihood of war.
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