The information presented here represents selected data from the December 31, 2019, balance sheets and income statements for the year then ended for three firms. Required: Calculate the missing amounts for each firm. Firm A Firm B Firm C 261,000 $ 312,000 Total assets, 12/31/19 Total liabilities, 12/31/19 123,000 48,000 Paid-in capital, 12/31/19 33,000 35,400 84,000 Retained earnings, 12/31/19 111,600 Net income for 2019 40,800 66,000 48,600 Dividends declared and paid during 2019 16,800 7,200 Retained earnings, 1/1/19 74,400 30,000
Answers
As a result, Company A is $269,400 in debt, Firm B is $103,800 in debt, and Firm C is $160,200 in debt.
What Exactly Is a Firm?A firm is a for-profit business entity that provides professional services. It can be a corporation, a limited liability company (LLC), or a partnership. The majority of firms only have one location. A "firm" is a business that sells, manufactures, or provides a paid service. Employees at the firm expected large bonuses.
What is the primary goal of a company?According to the conventional concept of the business, the primary purpose of a corporation is to maximise profits. Under the assumptions of given tastes and technology, the price and output of a certain product are selected under perfect competition with the only purpose of maximising profits. When a company registers, it becomes a separate legal entity with the right to file and defend lawsuits in its own name. Because a company is not a distinct legal entity, it cannot enter into agreements with third parties in its name.
Firm A:
Total liabilities, 12/31/19 = $123,000
Retained earnings, 1/1/19 = $74,400
Net income for 2019 = $40,800
Dividends announced and distributed in 2019 = $16,800
Retained earnings, 12/31/19 = $74,400 + $40,800 - $16,800 = $98,400
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid-in capital, 12/31/19 + Retained earnings, 12/31/19 = $123,000 + $48,000 + $98,400 = $269,400
Firm B:
Total assets, 12/31/19 = $312,000
Total liabilities, 12/31/19 = $35,400 + $84,000 = $119,400
Retained earnings, 1/1/19 = $30,000
Net income for 2019 = $66,000
Dividends announced and distributed in 2019 = $7,200
Retained earnings, 12/31/19 = $30,000 + $66,000 - $7,200 = $88,800
Paid-in capital, 12/31/19 = Total assets, 12/31/19 - Total liabilities, 12/31/19 - Retained earnings, 12/31/19 = $312,000 - $119,400 - $88,800 = $103,800
Firm C:
Paid-in capital, 12/31/19 = $84,000
Retained earnings, 1/1/19 = $111,600
Net income for 2019 = $48,600
Dividends declared and paid during 2019 = $0
Retained earnings, 12/31/19 = $111,600 + $48,600 - $0 = $160,200
Total assets, 12/31/19 = Total liabilities, 12/31/19 + Paid-in capital, 12/31/19 + Retained earnings, 12/31/19 = Unknown, as we do not have the total liabilities for Firm C.
To know more about Firm visit:
brainly.com/question/29840644
#SPJ4
Related Questions
according to cohen, which of the following is/are arguments why society-wide socialism might be thought infeasible?
Answers
According to Cohen, the argument which the society-wide socialism might be thought infeasible will be "the limitation of human nature/pursuit of self interest.
Socialism is a political philosophy and movement that embraces a variety of economic and social systems that place an emphasis on democratic control, such as worker self-management, as opposed to private ownership.
Socialism is characterized by social ownership of the means of production. Socialism includes the political, social, and economic ideologies and movements related to the development and adoption of such systems.
Social ownership can be public, community, collective, cooperative, or employee-owned. While there is no one definition that encompasses all socialism, social ownership is the one aspect that all socialist movements share and is regarded as left-wing.
Different forms of socialism differ depending on the role of markets and planning in resource allocation, on the structure of management in organizations, and on approaches from below or from above; some socialists favor a party, state, or technocratic-driven approach. Socialists disagree on whether the government, especially the current government, is the best tool for bringing about change.
To learn more about socialism: https://brainly.com/question/14693002
#SPJ4
Christensen suggested tactics to navigate the challenges of dealing with potentially disruptive innovations. Which of the following is one of those tactics?
A.
build portfolio options on emerging technologies
B.
have internal efforts focus on what may or may not turn out to be the next big thing
C.
all of the available options are true
D.
invest in firms or start-ups
Answers
(C) All of Christensen's suggested tactics are valid in the scenario at hand.
What are tactics?A conceptual activity or brief sequence of activities with the intention of achieving a short-term goal is referred to as a strategy.
This process can be carried out as one or more distinct tasks.
The phrase is frequently used in commercial, protest, and military contexts, as well as in competitive pursuits like chess, athletics, or other games.
The word's root is the Ancient Greek word taktike, which means "art of arrangement."
The specific acts or steps you take to carry out your plan are known as tactics.
For instance, one country's policy during a conflict can aim to influence the civilian population of the adversary.
They might employ strategies like radio broadcasts or hospital construction to accomplish this.
So, in the given situation all of the available options are true which are given by Christensen.
Therefore, (C) all of Christensen's suggested tactics are valid in the scenario at hand.
Know more about tactics here:
https://brainly.com/question/29689939
#SPJ1
true/false. to manage costs, most companies are choosing a leveraged sales force that focuses reps on selling the company's more complex and customized products to large accounts and uses inside salespeople and online ordering for low-end selling.
Answers
True. To manage costs, most companies are choosing a leveraged sales force that focuses reps on selling the company's more complex and customized products to large accounts and uses inside salespeople and online ordering for low-end selling.
Cost is commonly the cost caused for making an item or administration an organization sells. The expense to make an item could incorporate the expense of unrefined substances utilized. How much expense that goes into delivering an item can straightforwardly influence its cost and benefit procured from every deal. A few organizations will list the all out cost to make an item under the cost of products sold (Machine gear-pieces) on their fiscal reports. Pinions is the complete of direct costs associated with creation. These expenses could incorporate direct materials, like unrefined components, and direct work for the assembling plant.
Then again, a retail location could incorporate a piece of the structure's working costs and compensations for deals partners in their expenses. For things sold through a site as opposed to actual store, the cost of working the site may be remembered for costs.
Know more about Costs - https://brainly.com/question/14083670
#SPJ4
Joan's project is to take a fairly straight-forward manual process and make it an electronic process. This will make the processing more efficient. Which of the following requirements analysis strategies is she using?
a) Business process automation
Answers
The requirements analysis strategy that Joan is using is A: business process automation.
Business process automation involves taking a manual business process and automating it using technology to make it more efficient. In this case, Joan's project is to take a fairly straight-forward manual process and make it an electronic process, which is an example of business process automation.
By automating the process, Joan can improve the efficiency of the process by reducing errors, increasing throughput, and decreasing processing time. This can help to improve the overall productivity of the organization and reduce costs associated with manual processing.
Therefore, the correct answer is A - business process automation.
"
Complete question
Joan's project is to take a fairly straight-forward manual process and make it an electronic process. This will make the processing more efficient. Which of the following requirements analysis strategies is she using?
a) Business process automation
b) Business process improvement
c) Business process internalization
d) Business process reengineering
"
You can learn more about process automation at
https://brainly.com/question/30162032
#SPJ4
fill in the blank. crest toothpaste markets its fruit flavored toothpaste to children, and its whitening toothpaste to adults. this is an example of __segmentation.
Answers
Children are targeted by Crest's fruit-flavored toothpaste, while adults are targeted by its whitening toothpaste. An illustration of demographic segmentation is this.
How do you define market?The market is the total population of buyers and sellers in the area or region under consideration. This topic could include Earth as well as a number of other countries, areas, states, and cities. The forces of supply and demand in the market determine the value, expenditure, and value of the items sold.
What are the two meaning for market?This market is a location where products are purchased and sold, typically outside. He had a market booth where he sold footwear. 2. countable noun (often singular) The population represents potential market for a specific sort of product.
To know more about market visit:
brainly.com/question/13465761
#SPJ1
companies in the service industry cannot maintain an inventory of services, however, they can maintain an inventory of question blank 1 of 1 answer which are items that are used by the service provider or the customer during the service activity.
Answers
As per the inventory, Service-based companies can maintain include complementary goods, companion goods, supplemental products, companion services, facilitating products, service goods, and intangible products.
In the service industry, companies cannot maintain an inventory of services because they are produced and consumed simultaneously.
However, companies in the service industry can maintain an inventory of answers or intangible goods, which are items used during the provision of a service.
Complementary goods refer to products or services that are sold together with the main service.
Companion goods are products or services that are consumed together with the main service.
Supplemental products are additional products or services that can be purchased in addition to the main service.
Companion services are additional services that can be purchased in addition to the main service.
Facilitating products are goods or services that support the delivery of the main service.
Service goods are tangible goods that are used in the delivery of the main service.
Intangible products are non-physical goods that support the delivery of the main service.
In summary, while service-based companies cannot maintain an inventory of services, they can maintain an inventory of various goods and products that support the delivery of their services.
To know more about inventory here
https://brainly.com/question/14184995
#SPJ4
Complete Question:
Companies in the service industry cannot maintain an inventory of services, however, they can maintain an inventory of Answers which are items that are used during the service being provided.
Accompanying Products
Complementary Goods
Companion Goods
Supplemental Products
Companion Services
Complementary
Materials
Intangible Goods
Facilitating Products
Service Goods
Intangible Products
imagine that david is preparing his will and is trying to decide how to divide his assets between his two grown children. his daughter, tonya, is a chemical engineer who earns a high income. his son, terry, opted out of college and went to work straight out of high school. now terry works in construction; he works just as hard as tanya, but he is less affluent than she is.classify each example of possible ways david could divide his assets based on fairness and distribution as illustrated in the chapter.
Answers
David might transfer his assets according to the formula given for justice.
What types of assets are there?Equipment, estate development, raw materials, and inventories are examples of tangible assets. Intangible assets encompass things like royalties, trademarks, and other copyrights.
Fairness of Equal Results: Divide his money equally between Brian and Tonya, instead than giving it to charity.
As a matter of fair treatment, Terry should be given all of his riches in order to close the gap between he and his sister.
Fairness of Procedure: Inform his sons that he would give the cash to whoever takes the best care of him during his his senior years.
Equity of what is earned or deserved: Give the money to the kid he believes has earned the most of it.
To know more about asset visit:
https://brainly.com/question/29806447
#SPJ4
Suppose that you sell short 500 shares of Xtel, currently selling for $70 per share, and give your broker $25,000 to establish your margin account.
A. If you earn no interest on the funds in your margin account, what will be your rate of return after one year if Xtel stock is selling at: (i) $74; (ii) $70; (iii) $66? Assume that Xtel pays no dividends. (Leave no cells blank - be certain to enter "0" wherever required. Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)
i Rate of Return %
ii Rate of Return %
iii Rate of Return %
b. If the maintenance margin is 25%, how high can Xtel’s price rise before you get a margin call? (Round your answer to 2 decimal places.)
Margin call will be made at price ______ or higher
c. Redo parts (a) and (b), but now assume that Xtel also has paid a year-end dividend of $1 per share. The prices in part (a) should be interpreted as ex-dividend, that is, prices after the dividend has been paid. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.)
i Rate of Return %
ii Rate of Return %
iii Rate of Return %
Margin call will be made at price _______ or higher
Answers
A. (i) If Xtel stock is selling at $74, your rate of return after one year is -10.71%.
(ii) If Xtel stock is selling at $70, your rate of return after one year is 0.00%.
(iii) If Xtel stock is selling at $66, your rate of return after one year is 10.71%.
What are the responses to other questions?b. If the maintenance margin is 25%, you will get a margin call if the price of Xtel falls to $52.50 or below.
c.
(i) If Xtel stock is selling ex-dividend at $73, your rate of return after one year is -7.71%.
(ii) If Xtel stock is selling ex-dividend at $69, your rate of return after one year is 0.00%.
(iii) If Xtel stock is selling ex-dividend at $65, your rate of return after one year is 7.71%.
Margin call will be made at price $56.25 or lower.
learn more about rate of return: https://brainly.com/question/1789817
#SPJ1
if an investor expects a sharp increase in a stock's price, which of the following will be the most profitable?
Answers
If an investor expects a sharp increase in a stock's price, D: exercising rights could be a profitable option.
Exercising rights involves using the pre-emptive right to purchase additional shares of a company's stock at a predetermined price. If the investor exercises the right and the stock price increases sharply, they could make a profit by selling the shares they purchased at a higher market price.
However, it is worth noting that the profitability of this option will depend on the specific terms of the pre-emptive right and the magnitude of the anticipated price increase.
"
Complete question
if an investor expects a sharp increase in a stock's price, which of the following will be the most profitable?
a) Sell puts
b) Buy puts
c) Sell calls
d) Exercise rights
"
You can learn more about stock price at
https://brainly.com/question/28539863
#SPJ4
rosa's pretax accounting income in year 2 is $3,000. rosa deducts depreciation for tax purposes in excess of accounting depreciation of $300 in year 1 and $700 in year 2. it is expected the depreciation deduction will reverse by $500 in year 3 and $500 in year 4. the income tax rate is 40%. which of the following entries is included in the journal entry to record deferred taxes for year 2? multiple choice question. A. debit deferred tax expense $400.
B. credit deferred tax liability $280.
C. debit income tax expense $400.
D. credit deferred tax liability $500.
Answers
Based on the deferred question At the conclusion of 2015, there's been $400 in tax debt.
Is income taxable?The amount of money you owing to the Treasury or your state legislature is your tax burden. Your salary and filing status affect your pay tax obligation. Certain credits and deductions can make you pay less in taxes generally. Deductions can help you pay lower taxes overall.
How is the tax liability decided?It is easier to figure out the tax due on investment income than it is on company or compensation revenue. You only need to divide your profits by the applicable tax rate to determine however much tax you owe.
Created in 2014 : $120 (300x40%)
Created in 2015 : $280 (700x40%)
Total at end of 2015 = $ 400
To know more about tax liabilities visit:
https://brainly.com/question/29857441
#SPJ4
FILL IN THE BLANK. Berkshire Hathaway annual meeting, a famous yearly event, can be attended by any ___ which is someone who owns at least one share
Answers
The answer is Stockholder visit, Berkshire Hathaway annual meeting, a famous yearly event, can be attended by any stockholder which is someone who owns at least one share.
Who are stockholders, exactly?The owners of a corporation's outstanding shares, also known as stockholders, hold a portion of the company's remaining assets, earnings, and voting power. These shares are known as outstanding shares or simply shares.
What exactly are stockholders and stakeholders?Ownership-related rights are available to stockholders, who are also a portion owner of the companies in which they invest their money. Aside from business owners, stakeholders hardly ever have any ownership claims to the company in which they have an interest.
To know more about Stockholder visit:
https://brainly.com/question/16225453
#SPJ1
a nominal amount of money, even as little as one dollar, is sufficient consideration to form a valid contract. this is true even if the other party's consideration is much more valuable. True or False
Answers
A nominal amount of money, even as little as one dollar, is sufficient consideration to form a valid contract. this is true even if the other party's consideration is much more valuable. True
The nominal value of a security, also known as its face or par value, is its redemption price and is often listed on the front of that instrument. It is the declared value of an issued security, as opposed to its market value, in the case of bonds and stocks.
In economics, nominal values refer to the unadjusted rate or current price, which does not account for inflation or other factors, as opposed to real values, which account for general price level changes over time.
Learn more about nominal amount
https://brainly.com/question/29845613
#SPJ4
Armstrong Corporation manufactures bicycle parts. The company currently has a $19,300 inventory of parts that have become obsolete due to changes in design specifications. The parts could be sold for $7,100, or modified for $9,900 and sold for $21,300.
1A) Identify the relevance of the data given in the exercise to the decision about what to do with the obsolete parts (Irrelevant data or Relevant data).
Answers
Relevant data: The $19,300 inventory of parts, the estimated sale price of $7,100 if sold as is, and the estimated sale price of $21,300 if modified. These pieces of data are relevant to the decision about what to do with the obsolete parts.
What is estimated?Estimation is the process of making an educated guess about something based on available information. It involves taking into account all known facts and making a judgement about the outcome. Estimation is commonly used in many fields such as business, engineering, construction, finance and economics. The accuracy of an estimate depends on the quality of the data used, the experience of the estimator, and the amount of time available for the calculation. Estimation is an important skill to have in order to make informed decisions and to predict future outcomes.
To learn more about estimated
https://brainly.com/question/1194429
#SPJ1
Guzman Consulting Services issued a check for $2,000 to purchase equipment. This transaction would be recorded with which of the following entries?
Answers
The journal entry will be equipment debit and cash credit.
The account being debited or credited and not the amount is entered first when a business transaction is being recorded. A journal entry in accounting is a note of a monetary transaction in a journal. The debit and credit amounts as well as the accounts being debited and credited are included in the journal entry.
The most crucial components of the journal entry are the accounts that are being debited and credited since they show which accounts are impacted by the transaction In the given case, A check for $2,000 was written by Guzman Consulting Services to pay for the equipment. Thus, the journal entry will be -
Equipment A/c Dr. $2,000
To Cash A/c. $2,000
( Being equipment purchased by check)
Read more about the journal on:
brainly.com/question/14279491
#SPJ4
a restaurant has identified a target market of elderly patrons who eat early in the evening, a slower period for the business. the best communication strategy to reach this group would be to blank .
Answers
The answer is a. Run a print ad with coupon in a senior center program schedule.A restaurant is a place of commerce where customers can order and receive food and drinks.
Despite the fact that many restaurants now provide takeaway and food delivery services, meals are frequently served and enjoyed on the premises. There are many different styles and types of restaurants, from low-cost fast food and cafeterias to exorbitant luxury places. They also offer a wide range of cuisines and service approaches.The tiniest restaurant in the world, Kuappi, is located in Iisalmi, Finland.Early in the 19th century, the French word restaurer, which also means "give food for," was originally employed to indicate "return to a former status."The verb's present participle also suggests that the word "restaurant".
Learn more about restaurant:
https://brainly.com/question/28587110
#SPJ4
Assume there is a shortage in the market for digital music players. Which of the following statements correctly describesthis situation?A) The demand for digital music players is greater than the supply of digital music players.B) The supply of digital music players will increase because of the market pressures created by the shortage.C) The price of digital music players will rise in response to the shortage; as the price rises the quantity demanded willincrease and the quantity supplied will decrease.D) Some consumers will be unable to obtain digital music players at the market price and will have an incentive to offerto buy the product at a higher price.
Answers
C) As a result of the scarcity, the price of digital music players will increase, which will lead to an increase in demand and a decrease in supply.
C) The price of digital music players will increase in reaction to the scarcity, which will result in a fall in supply and an increase in demand. Digital music player shortages are an indication that there is a bigger demand than there is supply in the market. In order to account for the increasing demand, suppliers may raise the price of digital music players. As the cost increases, some customers could opt not to purchase the goods, while some suppliers might elect to increase production. In the end, the shortage will be resolved when the price increases until the quantity sought and amount provided are equal.
learn more about demand here:
https://brainly.com/question/29703449
#SPJ4
Put the stages of quality management evolution in order with 1 being the earliest and 5 being the latest
1. In the guild era, skilled craftsmen produced the entire product with pride of workmanship
2. With division of labor after the industrial revolution workers felt less responsible for the final product
3. Scientific Management applied observation methods and inspection to manufacturing
4. During World War II and post-war era, industries used statistical sampling methods on products & raw materials
5. Quality efforts turned to product design evaluation, expanded to Service Industry then evolved to prevention techniques
Answers
As per quality management evolution, the stages can be arranged as - 1, 2, 3, 4 and 5
The major goal of overall quality management is to ensure that an organisation can create an environment that continuously supports employees in increasing their level of productivity in order to speed up business operations. The stages of quality management can be arranged as -
1. Skilled artisans crafted the entire item with pride in their labor during the guild era.
2. After the industrial revolution, employees felt less accountable for the outcome due to the division of labour.
3. Scientific Management used industrial observation techniques and inspection.
4. Businesses utilised statistical sampling techniques on goods and raw materials throughout World War II and the post-war period.
5. Quality initiatives shifted to product design evaluation, grew to include the service sector, and eventually developed into prevention methods.
Read more about quality management evolution on:
https://brainly.com/question/24386228
#SPJ4
you are one of the it administrators for a corporate network. as you start each day, your job is to check the issue trax help desk system to see if any jobs have been submitted. you are working from the computer named itadmin. in this lab, your task is to: open issue trax from itadmin. find any tickets that are not yet closed. using the information found in the open ticket, resolve the issue. add a comment to the ticket, indicating that it has been resolved, and close the ticket.
Answers
A resolved ticket is a customer ticket that has already been resolved. This is the last stage in the ticket lifecycle for some software solutions. However, in order to remove a ticket from the queue, you must sometimes close it even after it has been resolved.
What is required of a network administrator?Administrators of network and computer systems typically perform the following tasks: Determine the system requirements of a company and install network software and hardware. Upgrade and repair networks as needed, and ensure that systems are functioning properly. Keep your network and computer systems secure.
Include more detail in the body of the e-mail if necessary, but don't spend more than a minute or two documenting things. Your support team should contact you to discuss it further, and providing too much information can often cloud the initial diagnosis of any problems.
Learn more about network administrators here:
https://brainly.com/question/14093054
#SPJ1
India is blessed with a vibrant wildlife and ecosystem, which is often subject to indiscriminate exploitation by unscrupulous elements of society including business organizations. Briefly explain any 5 (five) legislations that are related to environment protection or conservation.
Answers
5 (five) legislations that are related to environment protection or conservation
Wildlife Protection Act, 1972:Forest (Conservation) Act, 1980Air (Prevention and Control of Pollution) Act, 1981Water (Prevention and Control of Pollution) Act, 1974The National Green TribunalWhat are the explanantions of the 5 legations?Wildlife Protection Act, 1972: This act provides for the protection of wild animals and plants, and includes measures for the conservation of endangered species. It also regulates hunting, trapping, trade, and transportation of wild animals and plants.
Forest (Conservation) Act, 1980: This act provides for the conservation of forests and wildlife and regulates the diversion of forest land for non-forest purposes. It requires prior approval from the central government for the diversion of forest land for non-forest purposes.
Air (Prevention and Control of Pollution) Act, 1981: This act provides for the prevention and control of air pollution and the establishment of an Air Quality Monitoring system. It also establishes penalties for violating air pollution standards.
Water (Prevention and Control of Pollution) Act, 1974: This act provides for the prevention and control of water pollution and the establishment of a Central Pollution Control Board to regulate water pollution.
The National Green Tribunal: This is an specialised court that deals with environmental disputes and implements environmental laws and policies. It has jurisdiction over all civil cases relating to environmental protection and conservation of forests and wildlife.
Learn more about India at:
https://brainly.com/question/28391626
#SPJ1
Cute Camel Woodcraft Company has a debt-to-equity ratio of 2.80, compared to the industry average of 2.24. Its competitor Purple Lemon Woodcrafters, however, has a debt-to-equity ratio of 4.20. Based on what debt-to-equity ratios imply, which of the following statements is true? Purple Lemon's creditors face lesser risk than the average financial risk in the industry O Cute Camel's shareholders expect magnified returns but higher risk as compared to Purple Lemon. O Purple Lemon has greater financdal risk as compared to Cute Camel and to the average finandal risk in the industry O Purple Lemon has higher creditworthiness as compared to Cute Camel
Answers
The answer is Purple Lemon has greater financial risk as compared to Cute Camel and to the average financial risk in the industry is true.
How Do Industries Work?A set of businesses that are connected by their main lines of business are referred to as an industry. Numerous industrial classifications exist in contemporary economies. Sectors are generally used to combine together industry classifications into bigger groups.
Which industry is a good example?A set of companies that share a common primary commercial activity, such as the production of automobiles or the sale of groceries, is referred to as an industry. Smaller industries (like the automobile industry) can be categorized into bigger industry sectors (for example, the manufacturing sector in general).
To know more about Industry visit:
https://brainly.com/question/28495859
#SPJ4
Suppose Hoosiers, a specialty clothing store, rents space at a local mall for one year, paying $25,200 ($2,100/month) in advance on October 1. Required: 1.&2. Record the necessary entries in the Journal Entry Worksheet below. 3. Calculate the year-end adjusted balances of prepaid rent and rent expense (assuming the balance of Prepaid Rent at the beginning of the year is $0). Complete this question by entering your answers in the tabs below. Required 1 and 2 Required 3 Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the payment of rent in advance on October 1, Note: Enter debits before credits. General Journal Debit Credit Date October 01
Answers
If On October 1, Hoosiers would record the payment of rent in advance as follows: Debit Prepaid Rent: $25,200, Credit Cash: $25,200
How to prepare the journal entry?(1) On October 1, Hoosiers would record the payment of rent in advance as follows:
Debit Prepaid Rent: $25,200
Credit Cash: $25,200
(2) On December 31, Hoosiers would need to record an adjusting entry to reflect the amount of rent that has been used up or "expired" during the period
Debit Rent Expense: $6,300
(3 months x $2,100/month)
Credit Prepaid Rent: $6,300
(3) The year-end adjusted balances of Prepaid Rent and Rent Expense would be as follows:
Prepaid Rent:
Beginning balance: $0
Add : Rent paid in advance on October 1: $25,200
Less : Rent expense adjusted at year-end on December 31: $6,300
Ending balance: $18,900
Rent Expense:
Beginning balance: $0
Add : Rent expense adjusted at year-end on December 31: $6,300
Ending balance: $6,300
Learn more about journal entry here:https://brainly.com/question/14279491
#SPJ1
iven that a company reported net income for the year, determine how a company would complete its work sheet for the period by choosing the correct statement below. multiple choice question. A. the net income would be added to the credit column of the income statement columns. B. the owner, capital account ending balance, reflected in the credit column of the balance sheet, would include the net income. C. the company would add the net income amount to the credit column of the balance sheet
Answers
Answer: The company would add the net income to the Credit column of the Balance Sheet & Owners Equity columns of a work sheet.
Explanation:
is a process of weighing decision criteria in which each criterion is compared with every other criterion
O Maximizing comparisons
O Relative comparisons
O Absolute comparisons
O Satisficing comparisons
Answers
The answer is option b. Relative comparisons. The process of weighing decision criteria in which each criterion is compared with every other criterion is Relative comparisons.
What does the difference between criteria and criteria mean?The word "criterion," which is singular, refers to "a standard of judgment or critique." Criterion is the plural form of criteria and cannot be used as a singular noun. Five requirements must be fulfilled in the mechanism's design.
Which is an illustration of a criterion?Validity of the criteria If a college admission exam can forecast future academic achievement, a researcher wants to know. As it is a recognized indicator of academic success, the first-semester GPA can be used as the criteria variable.
To know more about Criterion visit:
https://brainly.com/question/25682985
#SPJ1
which of the following levels of measurement possess mutually exclusive categories, a fixed order to the categories, and equal spacing between the units of measurement?
Answers
interval and ratio are measurement possess mutually exclusive categories, a fixed order to the categories, and equal spacing between the units of measurement.
What level of measurement divides data into groups that cannot coexist?The nominal level of measurement divides data into categories that are mutually exclusive (nonoverlapping) and in which the data cannot be ranked or placed in any order.
What does measurement mean in everyday language?Measurement is the quantifying of characteristics of an object or event so that they can be compared to those of other objects or occurrences. To put it another way, measurement is the act of figuring out how big or little a physical quantity is in relation to a fundamental reference quantity of the same kind.
Finding a number to represent the quantity of something is the process of measurement.
To know more about measurement visit:
https://brainly.com/question/28913275
#SPJ4
according to the book, starkist strategy to address consumer concerns for dolphins was a financial and environmental success.
Answers
Starkist tuna adopted a dolphin-safe policy and stopped purchasing tuna from vessels using dolphin netting. This move implies that it was taken in response to concerns over the market place.
How would you create a strategy?A plan outlines the ways by which the objectives (goals) will be accomplished (resources). Strategy can be set or it can develop organically when an organization competes or adjusts its surroundings. It involves tasks like strategic thinking and strategic thought.
What does the word "plan" mean?An organization's long-term aims and the plan it has to attain them are referred to as its strategy. In other respects, it demonstrates the strategy for achieving the primary intention.
To know more about strategy visit:
https://brainly.com/question/15285486
#SPJ4
TRUE/FALSE. A private employer's refusal to give an employee overtime pay would meet the requirements for state action in a suit brought by the employee.
Answers
False. Under the Age Discrimination in Employment Act of 1967, state employers are not exempt from private lawsuits brought by employees.
Age discrimination in employment is not permitted in the United States because of a law passed in 1967 known as the Age Discrimination in Employment Act. President Lyndon B. Johnson signed the bill into law in 1967. under conditions that Title VII of the Civil Rights Act of 1964 does not explicitly address. The ADEA guarantees equal work opportunities and forbids age discrimination. The act also requires that the general public have access to information about the conditions for pensions and benefits provided by businesses. They must be compensated if they are required to work longer than what is specified in their contract, which typically includes Saturdays for employees who do not have a Saturday off and always includes federal holidays.
Learn more about Age discrimination in employment act here:
https://brainly.com/question/29492155
#SPJ4
after a heated discussion with his boss when e learned that he was going to be transferred to a new sales territory, ken packed up his personal belongings and quit without giving any notice. which of the following best describes kens reaction to a negative work event
exit
Answers
Exit is the best way to characterise Ken's response to a bad work event. This indicates that he decided to quit his position of employment willingly as a result of a bad experience or incident.
The easiest way to sum up Ken's response to a bad workplace occurrence is to say that he left. This indicates that he left his employment voluntarily as a result of a bad experience or incident, in this example, learning that he would be moving to a new sales region. One possible employee response to unfavourable workplace events is the exit response, which entails leaving the company, either by quitting or retiring. Feeling insulted, unappreciated, or unsupported by the company, among other things, might cause this reaction. It is a typical reaction when an employee believes their only alternative is to quit because they see no prospect for development.
Learn more about employment here:
https://brainly.com/question/1361941
#SPJ4
A customer enters an order to buy 1,000 shares of XYZ at 21. Which of the following is true regarding these order instructions?
A)
The order must be executed immediately.
B)
The order can be executed at 21 or lower.
C)
The order can only be executed at 21.
D)
The order can be executed at 21 or higher.
Answers
A customer enters an order to buy 1,000 shares of XYZ at 21 then the order can be executed at 21 or lower. Option B is correct.
This type of order is called a limit order, where the customer sets a specific price (in this case, 21) at which they are willing to buy the shares. As long as the market price of XYZ is at or below 21, the order can be executed. The order can be filled immediately if there are enough sellers willing to sell the shares at 21 or lower.
If there are not enough sellers at 21, the order may remain open until the market price falls to 21 or lower. If the market price never falls to 21, the order may not be filled at all.
To know more about limit order here
https://brainly.com/question/29754984
#SPJ4
According to Maslow’s hierarchy of needs, employees would be motivated by (Job Enrichment/ Health Insurance) only if (Job Enrichment/ Health Insurance) were already offered.
Need help with this tricky Operations Management Question.
Answers
Answer:
According to Maslow's hierarchy of needs, employees would be motivated by job enrichment only if job enrichment were already offered. Health insurance, on the other hand, would motivate employees regardless of whether it is already offered.
That's right. Job enrichment is a higher-level need on Maslow's hierarchy of needs, which means it will only motivate employees if it is already offered. Health insurance is a lower-level need, so it will motivate employees regardless of whether it is already offered.
compare the beta hedged stock index portfolio strategy with the minimum variance hedge using futures.
Answers
The beta hedged stock index portfolio strategy and the minimum variance hedge using futures are two different strategies that can be used to manage risk in an investment portfolio.
The beta hedged stock index portfolio strategy involves using futures contracts to offset the market risk (beta) of an equity portfolio. The goal of this strategy is to eliminate the impact of market movements on the portfolio's returns while maintaining exposure to individual stock performance. The strategy involves selling futures contracts on the underlying index to offset the market risk of the portfolio. This strategy is suitable for investors who want to maintain their exposure to the stocks in the portfolio but reduce the impact of market movements on their returns.
The minimum variance hedge using futures strategy involves using futures contracts to hedge against the overall volatility of the portfolio. The goal of this strategy is to reduce the overall volatility of the portfolio by hedging against the risk of individual stocks in the portfolio. The strategy involves selling futures contracts on the underlying index to offset the risk of the portfolio. This strategy is suitable for investors who want to reduce the overall volatility of the portfolio.
In terms of comparing the two strategies, the beta hedged stock index portfolio strategy is focused on reducing market risk, while the minimum variance hedge using futures strategy is focused on reducing overall portfolio volatility. The choice between the two strategies will depend on an investor's specific risk management needs and investment objectives. An investor who is primarily concerned with reducing market risk may prefer the beta hedged stock index portfolio strategy, while an investor who is concerned with reducing overall portfolio volatility may prefer the minimum variance hedge using futures strategy.
For more such type of questions investment:
https://brainly.com/question/3729664
#SPJ4