Answer:
the ending retained earnings balance is $87,900
Explanation:
The computation of the ending retained earnings balance is shown below:
= opening retained earning balance + net income - dividend paid
= $53,700 + $58,600 - $24,400
= $87,900
Hence, the ending retained earnings balance is $87,900
We simply applied the above formula
Question 1
10 pts
On August 31, 2022, BB Co. converted an accounts receivable to a
$10,000, 6% note due on December 31, 2022. BB closes quarterly on
September 30.
Prepare the journal entries for BB on August 31, September 30, and
December 31 when the amount due is paid in full. Assume each month
has 30 days and a 360 day year. You may use abbreviations. SHOW
YOUR WORK.
August 31: Debit: Accounts Receivable (10,000); Credit: Notes Receivable (10,000). September 30 (end of quarter): Debit: Interest Revenue (30 x 10,000 x 6%) (180); Credit: Interest Receivable (180). December 31: Debit: Notes Receivable (10,000); Credit: Cash (10,000)
Explanation:The interest calculation for September 30 is based on the outstanding balance of the note for the month (10,000) multiplied by the annual interest rate (6%) divided by 12 months and multiplied by the number of days in the month (30). The interest revenue is recognized at the end of the quarter.
A journal entry is what?In order to document business transactions in accounting records of the company, a journal entry is employed. A journal entry is usually made in general ledger, but it can also be made in subsidiary ledger and subsequently rolled forward into general ledger after being summarized.
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Assume that the product depicted below generates external costs in consumption of $3 per unit. Draw the social demand curve, identify the socially optimal output, and answer three questions.
a. Draw the social demand curve and identify the socially optimal output.
Instructions: Click and drag the market demand curve to a new position to show the social demand. Make sure to keep the line on the vertical intercept. Then, click and drag the market demand equilibrium to a new position to show the socially optimal output.
Instructions: In part a, enter your response rounded to two decimal places. In parts c and d, enter your responses rounded to one decimal place.
b. What is the market price (market value) of the product?
$ per unit
c. What is the socially optimal output?
units
External consumption costs of $3 shift the social demand curve to the left by $3 at each production level. The socially efficient outcome is the intersection of the social demand and market supply curves with a quantity of $5.50 and a price of $6.50.
The required details for demand curve in given paragraphThe relationship between cost of an item or service and the volume required over a specific time period is represented graphically by the demand curve. In a typical plot, price appears on the left vertical axis and quantity demanded on the horizontal axis.
Understanding the Demand CurveThe demand curve shifts from bottom left to right to top, which expresses the law of demand - as the price of a good increases, the quantity demanded decreases, other things being equal. Note that this phrasing implies that price is the independent variable and quantity is the dependent variable is.
Economics is a deviation from the general norm that the regression coefficient appears on the horizontally or x-axis.
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fill in the blank. when the fed increases the required reserve ratio, a bank's___, ceteris paribus. group of answer choices required reserves are increased required reserves are decreased excess reserves are increased required reserves are unaffected
When the fed increases the required reserve ratio, a bank's required reserves are decreased to manage the federal system, ceteris paribus.
The reserve ratio is usually set by the central bank of the country. The percentage of the commercial bank's deposits that it must keep in cash as a reserve in case of mass customer withdrawals.
In the federal system of the country, when the fed increases the required reserve ratio in the bank's the required reserves are increased and excess reserves are decreased then the federal reserve uses it as one of its tools for controlling the nation's money supply.
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How can i make money while i sleep?
Answer: Start an online business or Start a blog .
Suppose that in 1994 the total output in a single-good economy was 7,000 buckets of chicken Also suppose that in 1994 each bucket of chicken was priced at $10. Finally, assume that in 2015 the price per bucket of chicken was $20 and that 22,000 buckets were produced Instructions: In parts a-b, enter your answer rounded to 1 decimal place. In part center your answers as a whole number. a. What is the GDP price index for 1994, using 2015 as the base year? oints Book D References b. By what percentage did the price level, as measured by this index, rise between 1994 and 2015? percent c. What were the amounts of real GDP in 1994 and 2015? In 1994, real GDP = $ In 2015, real GDP = $
The GDP price index compares the price of a single good in two different years. For this question, the price of a single bucket of chicken was $10 in 1994 and $20 in 2015, so the GDP price index for 1994 using 2015 as the base year is 200%.
The GDP price index for 1994, using 2015 as the base year, is calculated using the following formula:
GDP Price Index = (Price in 2015 x Quantity in 1994) / (Price in 1994 x Quantity in 2015)
GDP Price Index = (20 x 7,000) / (10 x 22,000) = 140/220 = 0.64
The percentage change in the price level between 1994 and 2015 is calculated as follows: Percentage Change in Price Level = [(GDP Price Index in 2015 - GDP Price Index in 1994) / GDP Price Index in 1994] x 100
Percentage Change in Price Level = [(0.64 - 0.64) / 0.64] x 100 = 0%
The amount of real GDP in 1994 is calculated using the following formula: Real GDP = Price x Quantity Real GDP in 1994 = 10 x 7,000 = $70,000
The amount of real GDP in 2015 is calculated using the same formula: Real GDP in 2015 = 20 x 22,000 = $440,000
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What is your definition of a “fair” (living) wage? Would it vary by country?
Answer:
A fair wage, also known as a living wage, is a wage that is high enough for an individual or family to meet their basic needs, such as food, housing, healthcare, and education, while also allowing for some level of financial stability and security. It should also take into account the cost of living in the area where the person is living.
It is generally agreed upon that a fair wage should be high enough to allow individuals to live above the poverty line while providing enough money to afford basic needs. The concept of a fair wage is generally based on the idea that people should be paid a wage that is commensurate with the value of their work, and that they should be able to afford a decent standard of living.
Whether the fair wage varies by country depends on a number of factors, such as the cost of living, taxes, and the average standard of living in that country. In countries with a higher cost of living, such as the United States, a fair wage might be higher than in countries with a lower cost of living, such as Mexico. It also depends on the country's economic situation, for example, in a developing country the fair wage might be lower than in a developed country. Additionally, some countries have a higher minimum wage than others, which can also affect the fair wage.
In summary, a fair wage is a wage that allows individuals to meet their basic needs and have some level of financial stability, but it can vary by country depending on factors such as cost of living, taxes, the standard of living, and economic situation.
Economic Growth & Technology
Economic Growth is the expansion of output as measured by GDP. In general, the expansion of output can be achieved by adding more resources to the production process or by improving the ways in which the existing resources are utilized or combined. The knowledge of how resources are combined and transformed is what we call technology. In other words, technology is the knowledge of techniques used to transform inputs (resources) into products. is tied closely to how well people live.
2. Access the following TED Talk (video presentation). As you go through the videos, take notes of any relevant information.
3. In 500 words or more produce an original post that answers the following questions:
In what way does this TED Talk describe the impact of technology in the expansion of output?
Provide an example of a new but different technology that can have the potential to improve society's standard of living.
Are indoor vertical farms the future of agriculture? | Stuart Oda
The TED Talk in question describes the impact of technology on expanding production in a relevant way in the creation of value chains and social development, such as indoor vertical farms, which are the future of agriculture with sustainable practices.
How does technology help promote sustainability?The fact that consumers are increasingly aware of the need to protect ecosystems has led companies to increase their socio-environmental responsibility, leading to the development of technologies that contribute to this factor, with the institution of the use of cleaner and more sustainable energies by example.
Therefore, the companies' environmental responsibility practices contribute to the increase of sustainable practices in the environment, as well as to create an image of value for the brand through the perception of the stakeholders.
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which of the following is an example of electronic banking?
A. issuing stocks to raise capital
B. using ERMA to process customers checks
C. using a digital machine to
print money
D. exchanging two different currencies at an exchange office
Introduction of 5 year career development plan
A five-year plan is a list of goals, either personal or professional, that you want to achieve within the next five years. It often includes ambitions with specific timelines and measurements.
How would you define a career?A career is when you continue doing the same kind of work. One job or several jobs might make up a career. You could work for a single business or several. Sometimes a "career path" is used to describe a career. Education, training, and professional experience all go into a career.
What does a life career entail?The range of experiences you've had throughout your life make up your career. You are developing your career as you accumulate more job and life experience. Your education, training, and paid or unpaid employment all factor towards your career path.
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An argument can be offered that developed (industrialized) countries in the world experienced poor working conditions as their economies matured. Therefore, over time, workers in developing countries will gain the same benefits as their counterparts in countries such as the United States, Germany, and Japan. What’s your opinion?
It is true that many industrialized countries have experienced poor working conditions in the past as their economies developed. However, over time, workers in those countries have gained significant benefits through labor laws and unionization, such as the right to fair wages, safe working conditions, and collective bargaining.
It is possible that workers in developing countries will gain similar benefits as their economies mature. However, it is also important to note that the path to improving working conditions is not a linear process and can be affected by many factors such as government policies, political stability, and economic development.
It is also important to note that, even though many developed countries have achieved better working conditions, there are still significant issues in terms of fair wages, safe working conditions, and worker's rights. Additionally, there are still a lot of disparity between developed and developing countries in this regard.
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external factors that can affect reatail industry
An external factors that can affect retail industry are Competition. Politics. Economic Status. Trends. Technology. Adapting to Changes. Political Climate.
What do you mean by the retail industry?All businesses that offer products and services to consumers are considered to be in the retail sector. Various retail sales and store types can be found all throughout the world, including grocery, convenience, discount, independent, department, DIY, electrical, and specialty shops.
Location, marketing, shop design and appearance, service and selection, and bundle selling are the five pillars of retail success.
The danger of supply chain disruption and the environmental impact of using raw materials are the two key factors that have an impact on retail.
Therefore, an external factors that can affect retail industry are Competition. Politics. Economic Status. Trends. Technology. Adapting to Changes. Political Climate.
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The comparative balance sheets for Riverbed Company show these changes in noncash current asset accounts: accounts receivable decreased $81,100, prepaid expenses increased $24,700, and inventories increased $43,400.
Decreases in accounts receivables are added back because these represent collections from customers. Increases, however, are deducted because no actual cash was received when sales were recorded.
A balance sheet contains what?An organization's assets, liabilities, and owner equity are listed on a balance sheet as of any given date. A balance sheet is usually created at the conclusion of predetermined periods (e.g., every quarter; annually). Two columns make up a balance sheet. The company's assets are listed in the left-hand column.
What is a balance sheet's primary function?A balance sheet provides you with a momentary glimpse of your company's financial situation. A balance sheet can assist business owners in assessing the financial health of their organization along with an income statement and a cash flow statement.
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british investors will expect that the u.s. dollar will appreciate against the pound in the future if there are expectations that
In this statement, it is suggested that British investors expect the value of the US dollar to increase relative to the British pound in the future.
If the Euro is expected to depreciate against the US dollar, what would be the impact on the investments of an investor who has invested in the Euro ?If the Euro is expected to depreciate against the US dollar, an investor who has invested in the Euro will have less purchasing power when they convert their Euro back to US dollars. Therefore, the investment may not be as profitable as it would have been if the Euro had not depreciated.
British investors expect the value of the US dollar to increase relative to the British pound in the future likely to happen if there are expectations or indications that the US economy will perform well and/or that interest rates in the US will rise, which would make the US dollar more attractive to investors.
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Elaborate the importance of studying Consumer Behavior in Marketing management.
Studying consumer behavior is important for marketing management as it helps to understand customers and their preferences. This understanding can help marketers develop more effective content and strategies that target the right customers. Consumer behavior studies can also provide insights into how customers perceive products and services, which can help marketers create better experiences and ensure that offerings remain relevant to current trends and interests.
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What goes into rational decision making for a business owner? Are there any similarities to what goes into rational decision making for you personally? Discuss.
Answer:
Rational decision making for a business owner typically involves considering multiple options, evaluating the potential costs and benefits of each option, and choosing the option that is most likely to lead to the desired outcome. This process may involve gathering and analyzing information, considering the opinions and expertise of others, and using logical reasoning and problem-solving skills.
Some of the similarities between what goes into rational decision making for a business owner and for an individual include:
Both require gathering and analyzing information, evaluating options, and making a choice based on the potential outcome.
Both require considering the long-term and short-term consequences.
Both require considering the potential risks and benefits of each option.
However, there are also some key differences in the decision-making process for a business owner and for an individual. For example:
A business owner has to consider the impact of their decisions on the company and its employees, stakeholders, and customers.
A business owner may have to consider legal and regulatory requirements when making decisions.
A business owner may have to consider the financial impact of their decisions on the company.
In summary, rational decision making for a business owner and for an individual have some similarities, but it also has some differences. A business owner has more responsibilities and accountability for the outcome of their decisions, and also has to take into account the impact of their decisions on others.
the joint venture, im flash (intel-micron flash technologies) has a large flash memory fab in lehi, utah. their monthly design capacity is 62,410 wafers whereas the effective capacity is 59,150. they regularly produce 56,860 wafers per month.
Joint venture IM Flash has a monthly design capacity of 62,410 wafers, an effective capacity of 59,150 wafers, and regularly produces 56,860 wafers per month.
The Joint venture IM Flash (Intel-Micron Flash Technologies) has a large flash memory fab in Lehi, Utah. The fab's monthly design capacity is 62,410 wafers, which means that the facility is capable of producing up to 62,410 wafers per month. However, the effective capacity, which is the amount of wafers that can actually be produced, is 59,150 wafers per month. This may be due to factors such as equipment downtime, maintenance, or other production constraints.
On a regular basis, IM Flash produces 56,860 wafers per month. This is the actual number of wafers that are produced each month, and it is lower than the effective capacity of 59,150 wafers. This may be due to lower demand for the products or other factors that affect production efficiency.
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A news story from 2015 about the oil market stated, "the global glut of crude that has hit [oil] prices is starting to shrink."
In referring to a "global glut of crude," the article describes the result of a significant...
This change resulted in a...
In response to the global glut of oil, the market price will...
The glut will start to shrink when crude oil producers
The answer is an increase in crude oil supply relative to crude oil demand.
The required details for Supply in given paragraph
Supply is a basic economic concept that describes the total quantity of a specific good or service available to consumers. The offer may refer to the quantity available at a specific price or to the quantity available at a price range where indicated in the table. It is closely related to the demand for a good or service at a given price; unchanged, as the price of rises, producers' supply will increase as all companies seek to maximize profits. Supply is a basic economic concept that describes the total quantity of a given commodity that will enter the market for consumption. Supply is closely related to demand, and these two concepts together form a market equilibrium that determines the quantity of goods in the market and the price at which they are sold. Supply is graphed and the supply curve represents the relationship between price and quantity as an ascending line.
Supply is determined by market demand, cost constraints, consumer preferences and government policies. The offer is often divided into short-term and long-term offers, although there are other types of offers.
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Some of the external pressures to change include which of the following
Some of the external pressures to change include Social pressure.
What is meant by external pressures to change?External pressures to change refer to the forces or influences that come from outside an individual or organization that can influence or drive the need for change. These pressures can be from a variety of sources such as competitors, regulatory bodies, customers, suppliers, or societal changes.
For example, external pressures to change can come from new technologies that are disrupting an industry, or from changes in customer preferences and expectations, or from regulatory changes that require an organization to change its practices.
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Which of the following are the most beneficial credits?
O Nonrefundable tax credits
O Refundable tax credits
O Partially refundable credits
b. Refundable tax credits Tax credits that are refundable are so-called because they are refundable if you meet the requirements and the credit's value exceeds the tax you must pay.
Define and Refundable and Nonrefundabletax?Refundable tax credits not only lower your federal tax liability, but they also have the potential to exceed your tax liability and produce a refund. Consider a scenario in which you qualify for a $1,000 child tax credit but only owe $200 in taxes. The extra $800 is considered a refund to which you are qualified.
On the other hand, a nonrefundable tax credit limits your refund to the amount you owe. For instance, if you qualify for the American Opportunity Tax Credit.
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A reaction A+B⟶C obeys the following rate law: Rate=k[B]2. If [A] is doubled, how will the rate change?
If [A] in the reaction is doubled, the rate will quadruple.
What is a reaction?
A reaction is a response to a stimulus, either internal or external. It can be either physical or mental and is often accompanied by a change in behavior. Reactions can be conscious or involuntary, and can range from something as simple as a reflex to something as complex as a thought.
This is because doubling the amount of reactant A doubles the number of collisions between reactant A and B. Since the rate of a reaction is proportional to the number of collisions, doubling the amount of A will result in the rate being multiplied by four (quadrupled).
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As credit card balances increase, what will be the consequence for M1 and M2?
A. M1 will increase and M2 will decrease.
B. M1 will decrease and M2 will increase.
C. M1 and M2 will both decrease.
D. There will be no effect on M1 or M2.
E. M1 and M2 will both increase.
As credit card balance increases, "there will be no effect on M1 or M2".
What exactly is a credit card?
A credit card is a payment card issued by a financial institution that allows users to make purchases on credit. Credit cards are typically linked to a user's bank account, and allow the user to borrow money from the issuing bank up to a predetermined limit. Credit cards can be used to pay for goods and services and to withdraw cash from ATMs.
M1 and M2 are measurements of the money supply in an economy, and do not take into account credit card balances. Credit card balances are not included in either of these measurements, as they are a form of debt and not a form of money. Therefore, a rise in credit card balances would have no effect on the M1 and M2 money supply measurements.
Hence, option D is correct.
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The cash sales for the day, according to the cash register records, totaled $8,356, including sales tax of $473. The actual cash received from cash sales was $8,389. Cost of goods sold related to these sales was $3,360.
Answer:
The cost of goods sold related to the cash sales is $3,360 because this is the amount of the inventory that was used to produce the products sold in the cash sales. It is calculated by subtracting the gross sales (including sales tax) from the cash received. In this case, $8,389 - $8,356 = $33. This is the amount of cash that was used to purchase inventory to produce the products that were sold in the cash sales. Therefore, the cost of goods sold related to the cash sales is $3,360.
You and a classmate are assigned a project on which you will receive one combined grade. You each want to receive a good grade, but you also want to avoid hard work. In particular, here is the situation:
*If both of you work hard, you both get an A, which gives each of you 40 units of happiness.
*If only one of you works hard, you both get a B, which gives each of you 30 units of happiness.
*If neither of you works hard, you both get a D, which gives each of you 10 units of happiness.
*Working hard costs 25 units of happiness.
a. Fill in the payoffs in the following decision box:
Your Decision Classmate's Decision
Work/Work Your: Classmate:
Shirk/Work Your: Classmate:
Work/Shirk Your: Classmate:
Shirk/Shirk Your: Classmate:
b. What is the likely outcome? Explain your answer.
c. If you get this classmate as your partner on a series of projects throughout the year, rather than only once, how might that change the outcome you predicted in part (b)?
d. Another classmate cares more about good grades: He gets 50 units of happiness for a B, and 80 units of happiness for an A. If this classmate were your partner (but your preferences were unchanged), how would your answers to parts (a) and (b) change? Which of the two classmates would you prefer as a partner? Would he also want you as a partner?
If we both work hard, the payout for each is 25 units. The cost of hard work is 15 units, so the total happiness for everyone is (25 - 15) = 10 units.
The required details for payoff in given paragraph
If only one works hard, the payoff for the industrious is 15, and for the industrious, the cost of the hard labor decreases by 15. Thus, the payoff for the industrious is (15 - 15) = 0, if no one works hard, the gain for every is 5 units. If your classmate works hard, there is a 10 chance you can work hard units or with luck avoid 15 units. This way you will come out with better luck. If a classmate is doing well, you can work hard with 0 luck or leave with 5 luck. This way you will come out with better luck. So you have a dominant avoidance strategy. If you work hard, a classmate can work hard with a 10 unit chance or dodge with a 15 unit chance. Therefore, with more luck, the classmate will run away. If you dodge, your classmate can either work hard with 0 luck or escape with 5 luck. Therefore, a classmate will do better. Therefore, the classmate has a dominant escape strategy. Therefore, the likely outcome is that your classmate dodges and you dodge.
When the two are partners on a number of projects throughout the year, the overall satisfaction for both of them can be enhanced by working together be increased . Therefore, you will be more willing to cooperate.
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Which one of the following polyatomic ions has the same charge as the hydroxide ion? Select one: a. carbonate
b. nitrate c. phosphate d. sulfate e. ammonium.
Nitrate has the same charge as the hydroxide ion. One oxygen is joined to one hydrogen to form the negatively charged hydroxide ion.
What is Nitrate?
The chemical formula for nitrate is NO3, and it is an inorganic substance made up of one nitrogen atom (N) and three oxygen atoms (O). Health risks from nitrate do not typically arise until it is converted to nitrite (NO2).
The majority of nitrate used in industry goes toward fertilizing lawns or crops. Additionally, nitrate and nitrite are used to make explosives, ammunition, and various pharmaceutical medications as well as to preserve food.
Nitrate is a naturally occurring substance that is present in some foods (like spinach and carrots) at amounts that are safe and nutritious. It is produced by natural processes like plant degradation. Numerous fertilizers used on lawns, golf courses, and crops include nitrate. Animal wastes and sewage system discharge are two more sources of nitrate.
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fill in the blank. in the first chapter of the wealth of nations, smith introduces the idea of the___, which means the way in which the work required to produce a good or service is divided into a number of tasks that are performed by different workers.
In the first chapter,Adam Smith introduces the division of labor, which means that the way a good or service is produced is divided into a number of tasks that are performed by different workers, instead of all the tasks being done by the same person.
In The Wealth of Nations, Adam Smith argued for the economic principle that enterprises ought to be allowed to operate without interference from the government. Below, this is further discussed. Smith was generally against free trade. Through rivalry, market forces, and self-interest, open markets frequently self-regulate. Finally, Adam Smith maintained that businesses should be allowed to run freely from government interference in The Wealth of Nations.
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If a country imports a small fraction of the world's supply, we expect it to face A. an upward-sloping residual supply curve B. a nearly perfectly elastic, horizontal residual supply curve. C. The type of supply curve it faces cannot be determined. D. a nearly perfectly inelastic, vertical residual supply curve. Suppose that the market supply elasticity, 05, the demand elasticity in other countries, e :-04, and that the United States' share of world rice out 10.0% Its residual supply elasticity r' is(round your answer to one decimal place)
We can say this that if a united states imports smaller share of world supply, then we count on that it faces nearly best elastic or horizontal residue.
Which body is referred to as perfectly elastic?If a body totally regains its natural structure or measurement after the removal of exterior forces , it is known as a flawlessly elastic body.
If a body regains its authentic configuration right now and absolutely after removal of the deforming force, it would be known as Perfectly Elastic Body. There is no flawlessly elastic body however quartz fibre and Phosphor bronze are examples of close to perfect elastic bodies.
Perfectly elastic body: A physique which does now not regain its unique configuration at all on the elimination of the deforming force, however small the deforming pressure may be, is called a perfectly plastic body. Putty, mud and paraffin wax are examples of the nearly ideal bodies.
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https://brainly.com/question/27308648#SPJ1on january 1, bondz, inc. issued $100,000, 8%, 5-year bonds for $96,107.60 given a market rate of 9% and annual interest payments. bondz records its bonds payable net of discounts. the interest expense for the 1st year ended december 31, using the effective-interest equals blank . (round to the nearest cent.)
The interest expense for the 1st year ended December 31, using the effective-interest equals $7,978.19.
Calculate the bond discount by subtracting the issue price from the face value of the bond:
Discount = $100,000 - $96,107.60 = $3,892.40
Calculate the annual interest payments by multiplying the face value of the bond ($100,000) by the stated interest rate (8%):
Annual Interest Payments = $100,000 x 8% = $8,000
Calculate the effective interest rate by dividing the annual interest payments by the issue price of the bond:
Effective Interest Rate = $8,000 / $96,107.60 = 8.32%
Calculate the interest expense for the first year by multiplying the issue price of the bond by the effective interest rate:
Interest Expense = $96,107.60 x 8.32% = $7,978.19 (rounded to the nearest cent)
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1) Name a product brand that you consider yourself loyal to or that you were once very loyal to.
2) Describe how the promotion of the product keeps or kept you loyal.
3) Describe something the company could do or did do that would cause you to stop buying from them, and explain why.
A brand that I was once loyal to is the Nike shoe brand.
The promotion of the brand kept me loyal because it was used to depict fitness and sportsmen and women. This was something I was into.
One of the things that the company could do that would make me to stop buying from them would be racism, or discrimination against women.
What is customer loyalty?Customer loyalty is a continuing emotional bond between you and your customers that shows in their willingness to interact with you and make repeat purchases from you as opposed to your competition.
Adding value is the best approach to win a customer for life.
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Use the graph on the right to answer the following questions. a. Which of points A, B, C, or D can represent a long-run equilibrium? O D O A and C O B O A and B O B and D O A, B, C, and D
Long-run equilibrium returned to point C after SRAS changed from SARS2 to SRAS1.
What does the economic term "long run" mean?A time frame when all cost and production parameters are movable is referred to as the long run. Over time, a company will look for the manufacturing technique that enables it to deliver the desired amount of output at the most affordable price.
What does a long-run and short-run example mean?Some inputs are stable and unchangeable within the short run, while others are flexible. The long run is the time frame in which all inputs are uncertain. Consider the case of the wooden baseball bat manufacturer Best Bats. Both fixed and variable inputs are present in Best Bats' short-term calculations.
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When merchandise that was sold is returned, a credit to sales returns and allowances is made.
When items that were sold are returned, a credit is applied to sales returns and allowances. Sales allowances and returns are recorded as a negative revenue item.
What ledger is the sales return in?The following journal entry is passed in order to record entries for sales returns: Return on sales - Dr. The amount of the products is transferred to the ledger in an account called the Sales returns account after the sales return book has been correctly updated and all transactions have been recorded in it.
What does sales return actually mean?A turn back inward A journal, daybook, or sales returns journal is used to record sales returns. It can also be used to record sales credit. To put it another way, the journal is used to track the items that recipients of products return.
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