if a business considers changing vendors, but doing so would require that business to alter product specifications, retrain employees, and/or modify existing processes, we would say the business faces significant blank

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Answer 1

If a business considers changing vendors, but doing so would require that business to alter product specifications, retrain employees we will say the business faces significant switching costs.

What is product specification?

The term "product specification" refers to a set of requirements in a document that gives product teams the knowledge they need to develop new features or functionality.

A solid product specification avoids micromanaging the creation of the product. Instead, it provides them with pertinent context regarding users, company needs, and other factors to aid in their decision-making as they develop and construct a solution. Product specifications don't have to be complicated or lengthy. The best product specifications are actually quite succinct.

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Related Questions

without using a calculator, approximately what rate would you need to earn to turn $500 into $2000 in 10 years

Answers

To turn $500 into $2000 in 10 years without using a calculator, you would need to earn a rate of about 7.2% per year.  Today, calculators are widely available for use in many different contexts.

What do you know about a calculator?

A calculator is a small electronic device used to perform basic mathematical operations such as addition, subtraction, multiplication, and division. Modern calculators come in a range of shapes and sizes and offer a variety of features including graphing capabilities, scientific functions, and memory storage. Calculators are commonly used in schools and universities, as well as in the home and workplace. Some calculators are capable of solving complex equations, while others are designed to be used in specific areas such as engineering and finance. Calculators are also used in many other fields including medicine and science. The use of calculators has been around for centuries, with the earliest version being the abacus.

So, The required answer is  7.2% per year.

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From the perspective of process analysis, which of the following could be appropriate flow units for a hardware store? a. Number of workers. b. Number of cash registers. c. Number of customers. d. Number of suppliers

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The  Correct option c.) Number of customers

Process analysis is a form of technical writing and expository writing "designed to convey to the reader how a change takes place through a series of stages".

While both a traditional process analysis and a set of instructions are chronologically organized, the reader of a process analysis is typically interested in understanding the chronological components of a system that operates largely without the reader's direct actions (for example, how the body digests an apple), whereas the reader of a set of instructions intends to use the instructions to accomplish a specific, limited task (such as how to bake an apple pie). The reader of a mechanism description, on the other hand, is more interested in an object in space.

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during an authorized penetration test, michael discovered his client's financial records. which of the following should he do?

Answers

When Michael found his client's financial documents during a legitimate penetration test, he should see a lawyer for assistance.

What is a penetration test?

A penetration test sometimes referred to as a pentest or ethical hacking, is a legitimate simulated cyberattack on a computer system that is carried out to examine the system's security.

This is distinct from a vulnerability assessment.

The test is run to find both strengths and weaknesses, allowing a thorough risk assessment to be completed.

Weaknesses (also known as vulnerabilities) include the possibility for unauthorized parties to access the system's features and data.

The process often starts by identifying the target systems and a specific goal, then reviewing the information already available and employing various strategies to achieve that goal.

So, Michael should seek legal advice after discovering his client's financial records during an honest penetration exam.

Therefore, when Michael found his client's financial documents during a legitimate penetration test, he should see a lawyer for assistance.

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Correct question:

During an authorized penetration test, Michael discovered his client's financial records. What should he do?

your division is considering two investment projects, each of which requires an up-front expenditure of $24 million. you estimate that the cost of capital is 11% and that the investments will produce the following after-tax cash flows (in millions of dollars):

Answers

The NPV of project A is $9.39 million, and the NPV of project B is $4.07 million. Therefore, the better investment option is project A as it has a higher NPV.

Net Present Value (NPV) is the difference between the present value of future cash flows and the initial investment cost. An NPV value greater than zero indicates that the project provides a positive return on investment.

Therefore, NPV is an important factor to consider when evaluating potential investments. In this case, project A has a higher NPV of $9.39 million, indicating that it would generate more value for the company than project B. As such, it is the better investment option.

Additionally, the cost of capital is 11%, meaning that the company must achieve a return of at least 11% on the investment in order for it to be a good investment. Project A has an NPV of 9.39%, which is higher than the required 11%. Therefore, it is the better investment option.

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true/false. issued by money-centered financial firms, these short- or medium-term insured debt instruments pay higher interest than a regular savings account. they are low-risk instruments and have low returns.

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Issued by money-centered financial firms, these short- or medium-term insured debt instruments pay higher interest than a regular savings account. They are low-risk instruments and have low returns. This is a false statement.

What do the terms "money market" and "capital market" mean?

Bills of Exchange, also known as commercial bills, Treasury bills, commercial papers, certificates of deposits, repurchase agreements, banker's acceptance, and call and notice money are examples of money market products. Stocks and bonds are characteristics of capital market instruments.

Which of the following items is traded on stock exchanges?

Treasury bills and certificates of deposit are examples of short-term debt securities that are considered to trade in the money market. The capital market is where long-term debt securities are traded, including treasury notes and bonds, corporate and municipal bonds, and stocks.

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Monopoly Air is the sole provider of passenger air service between Eldorado and Erewhon. It flies two flights per day in either direction with the typical flight being about 85 percent booked. A new entrant, Upstart Airways, has announced plans to offer additional service in the Eldorao-Erewhon market. However, Monopoly Air has filed a complaint with the local transportation authority arguing that it is a natural monopoly and that additional air service will only cause losses for both parties. As evidence, Monopoly Air cites the fact that, even now, its planes are not fully booked. Hence, it argues that the market is not large enough to sustain two, efficient-sized air carriers. Evaluate the argument put forth by Monopoly Air based on the following two accounts.a. What problems do you see in its logic?b. What information would you ideally like to have in order to determine whether this market is a natural monopoly?

Answers

The problems in the logic argued by Monopoly Air is that it fails to take into account:

The prices that it charges could be the reason for lower passengers A natural monopoly is not enforced by the government A lack of passengers is not reason enough for the government to prevent Upstart Airways from entering the market.

Information to determine a natural monopoly include economies of scale, higher barriers to entry, and limited competition.

Why is Monopoly Air wrong ?

Monopoly Air is wrong because it is trying to get the government to enforce a natural monopoly which should only be enforced by market conditions such as limited competition.

It fails to realize that the prices it charges people might be the reason they have less passengers and that more competition could force them to be more innovative thereby acquiring economies of scale.

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As a result of accounting scandals, several methods have been developed to deal with the issues of corporate governance. They are all of the following except:
A) The Board must select only SEC approved consultants.
B) Chairman of the Board position should be split from the CEO position.
C) Board of Directors should have a majority of independent directors.
D) The Board of Directors must explain its approach for adopting a code of ethics for the CEO and senior financial officers.

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Several approaches have been created to address the difficulties of corporate governance as a result of accounting crises, however the Board may only choose SEC-approved consultants.

The Securities and Exchange Commission (SEC) must give SEC Approval before the Borrower can legitimately borrow funds totaling more than the SEC approve  Limit and for the duration of this Accord to be at least 364 days. The Securities Exchange Act requires relevant information to be disclosed by anyone intending to purchase more than 5% of a company's securities through a purchasing goods or tender offer. The SEC's funding does not increase the burden on taxpayers or the overall national debt. All of its funding comes from self-regulatory organisations' fees.

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ambassador hotels purchases one year of fire insurance coverage on december 1 for $24,000 ($2,000 per month), debiting prepaid insurance. on december 31, ambassador would record the following year-end adjusting entry:

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Ambassador would record the following year-end adjusting entry like Debit Insurance Expense, Credit Prepaid Insurance.

Explain the term credit with reference to business.

Credit may represent many different things in the realm of finance, but it is often understood as a contract where a borrower receives money or something valuable and agrees to pay the lender back at a later time, usually with interest.

The term "credit" can also refer to someone or something's creditworthiness or credit history.

It frequently refers to an accounting item that lowers assets or raises liabilities and equity on a company's balance sheet, according to accountants.

A social relationship between a creditor (lender) and a borrower is the fundamental component of credit (debtor). Debtor agrees to return lender, frequently with interest, or face financial or legal repercussions.

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assume the initial equilibrium is at point w. if the number of manufacturers producing electric cars increases and the number of buyers of electric cars increases, the equilibrium point will move from w to:

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The equilibrium point will shift from W to Y if both the number of companies making electric cars and the number of consumers buying them both rise.

What is the equilibrium point?

An equilibrium point is a constant solution to a differential equation in mathematics, more precisely in differential equations.

By examining the signs of the eigenvalues of the linearization of the equilibria's equations, equilibria can be categorised. In other words, the equilibria may be classified by evaluating the Jacobian matrix at each of the system's equilibrium points and then determining the resulting eigenvalues. Then, by locating the eigenvector(s) associated with each eigenvalue, the behaviour of the system in the vicinity of each equilibrium point can be qualitatively (or even statistically, in some cases) identified.

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Giving Brainliest!
What phrase would be BEST to use with an audience of non-native English speakers to convey that something is very difficult?

Question 10 options:

This will have you grasping at straws.


This is a catch-22.


This is going to be a lot of work.


This will be an uphill climb.

Answers

Answer:

This is going to be a lot of work.

Explanation:

Other options are sayings that will be difficult to understand for someone that is a non-native English speaker. While they sound normal are normal sayings that people use daily, it will be hard for someone who doesn't understand the meanings behind them.

true/false. a company is creating a new product and must determine how to effectively create the product as well as appeal to the market and target a wide range of customers.

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A business is developing a new product, and the demands and preferences of the customer were taken into consideration during development. A corporation can draw in customers with the aid of advertising.

Who is the customer?

Customers are those who have purchased goods and services, and they are responsible for meeting their needs and wants in exchange for payment. With the assistance of the customer, the product information is delivered to the client.

Using market research to identify client demands and product preferences, a company successfully developed a product. the use of social media advertisements to appeal to a broad audience or the intended audience.

As a result, the buyer must draw attention to the product in social media advertisements.

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Alcorn Service Company was formed on January 1, 2018. Events Affecting the 2018 Accounting Period 1. Acquired $78,000 cash from the issue of common stock. 2. Purchased $4,800 of supplies on account. 3. Purchased land that cost $54,000 cash. 4. Paid $4,800 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $78,000. 6. Paid $39,000 cash for other operating expenses. 7. Collected $56,000 cash from accounts receivable. Information for 2018 Adjusting Entries 8. Recognized accrued salaries of $5,000 on December 31, 2018. 9. Had $2,000 of supplies on hand at the end of the accounting period. Events Affecting the 2019 Accounting Period 1. Acquired $38,000 cash from the issue of common stock. 2. Paid $5,000 cash to settle the salaries payable obligation. 3. Paid $9,000 cash in advance to lease office space. 4. Sold the land that cost $54,000 for $54,000 cash. 5. Received $10,200 cash in advance for services to be performed in the future. 6. Purchased $2,800 of supplies on account during the year. 7. Provided services on account of $50,000. 8. Collected $51,000 cash from accounts receivable. 9. Paid a cash dividend of $4,000 to the stockholders. 10. Paid other operating expenses of $37,500.

Answers

2018:

Revenues: $78,000

Expenses: $4,800 (supplies), $54,000 (land), $39,000 (other operating), $5,000 (accrued salaries) = $102,800

Net Loss: $24,800

2019:

Revenues: $50,000

Expenses: $2,800 (supplies), $37,500 (other operating), $5,000 (salaries payable) = $45,300

Net Income: $4,700

What is a financial statements?

Financial statements are official reports that summarize a company's financial status and provide a picture of its financial performance and position at a given point in time. The three main financial statements are:

The balance sheet, which provides a snapshot of a company's assets, liabilities, and equity at a specific point in time.

The income statement, which shows a company's revenue and expenses over a given period of time and results in a determination of net income or net loss.

The statement of cash flows, which shows the flow of cash in and out of a company and provides information on how well the company manages its cash resources.

These statements are used by various stakeholders, including investors, creditors, and management, to evaluate a company's financial health, make informed decisions, and plan for the future

It should be noted that the information provided above only covers events affecting the accounting periods.

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Under what circumstances would the GDP deflator be less than 100 after the base year?
a. The GDP deflator will be less than 100 if there has been deflation relative to the base year.
b. The GDP deflator will be less than 100 if there has been inflation of less than 2% per year relative to the base year.
c. There are no circumstances under which the GDP deflator could be less than 100.
d. The GDP deflator will be less than 100 if there has been inflation relative to the base year.

Answers

The GDP deflator will be less than 100 if inflation has been less than 2% per year in relation to the base year.

What circumstances could result in the GDP deflator going above 100 after the base year?

No, a deflator greater than 100 shows that prices have risen since the base year. This does not necessarily mean that inflation is still occurring. In reality, you can be experiencing deflation after a period of inflation in this situation if current prices are still greater than they were in the base year.

A GDP deflator value of 100: what does it mean?

Prices were down overall by 21% from the base year to with a GDP deflator of 79%.

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The American Marketing Association (AMA) defines marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Evaluate the strengths and weaknesses of this definition. Defend how you would change the definition. Assess whether the definition is clear, accurate, relevant, and current in today’s organizations and society.

Answers

As the name suggests, this attribute of data quality denotes the accuracy of the information. If the information represents a real-world situation, that will tell you if the data is correct or not.

What is information?

Information is an ambiguous concept that describes anything with ability to inform. Information relates to the interpretation of what can be felt at its most basic level. Any natural activity that is not entirely random and any discernible pattern in any media can both be considered to be transmitting some level of information. The act of turning data into information that may be analysed and processed at a later stage is known as iterative processing of information. Bits in a digital signal can be translated into symbols, letters, numbers, or other forms of information that are available at the next level up. The fact that information is interpretable and processable is its primary quality.

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FILL THE BLANK when managers look at social issues in general terms of the extent to which they are problematic they are following the ___ approach to strategic corporate social responsibility.

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When managers look at social issues in general terms of the extent to which they are problematic they are following the outside-out approach to strategic corporate social responsibility.

What is the outside-out approach to Corporate Social Responsibility?

A manager uses various approaches to manage the Corporate Social Responsibility (CSR) of the company. They include outside-in, inside-out, inside-in, and outside-out.

The outside-out approach refers to a situation whereby the manager tries to find a way to curtail or eradicate any problematic area outside the company, and considers it a part of the organization's social responsibility.

Here, the manager thinks the company could fulfill its responsibility to society by balancing the outside problem.

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fill in the blank. ___ an operating budget will determine if a business has adequate financial resources on hand to pay bills as they become due or if it will need to borrow money.

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1907 an operating budget will determine if a business has adequate financial resources on hand to pay bills as they become due or if it will need to borrow money.

Yes, A company's expectations of future revenue and expenses are estimated in considerable detail in an operating budget. Near the end of the year, businesses generate an operating budget to highlight anticipated activity the following year.

What is business?

An ambitious firm or organization that participates in professional activities is considered as a business. They might be industrial, commercial, or anything else. Businesses that are for-profit operate to make a profit, whereas businesses that are nonprofit do so to further a charitable purpose.

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when you assign tasks to employees based on comparative advantage, task assignments go to those with the

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Activities are given to employees with the lowest opportunity costs when tasks are distributed based on comparative advantage.

How are team members assigned tasks?

Consider team members' talents, knowledge, and experience when assigning tasks, as well as their workloads and chances for advancement. Inform team members of the task they have been assigned and the required standard of performance after you have arranged the distribution of work packages.

What advantages can task assignments offer?

You can view team over- and under-allocations thanks to them. You can determine who is overworked and modify their task. That can entail delegating work to someone else or delaying them for a longer length of time.

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anyone who would suffer a(n)________loss from the destruction of personal property has an insurable interest in that property.a

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Anyone who would suffer an financial loss from the destruction of personal property has an insurable interest in that property.

Who are the persons who have insurable interest?

a person's stake in anything, such as a piece of property or another individual, which makes them liable for any losses if the object or person is damaged. According to insurance law, you can only purchase insurance for a person or item that you have an insurable interest in.

What makes a loss insurable?

Loss must originate from an unintended action or an accident in order to be covered by insurance. In essence, it must be out of the business's hands or influence. Losses also have to be random, eliminating the possibility of unfavourable selection.

What is an example for insurable interest?

A policyholder purchasing property insurance for their own home but not for that of their neighbour is an example of an insurable interest. A person does not have an insurable interest in any monetary losses brought on by harm to a neighbor's home.

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Suppose that there is a technological disaster that makes workers less productive than before. Assume that initially output is at its natural rate. a. How, if at all, does this affect the IA curve? b. How, if at all, does this affect Y_n? c. In light of your answers to a. and b., according to the IA-AD model, what is the immediate effect of the disaster on output and the real interest rate? d. Can you tell how the long-run effect of the disaster on output compares with the short-run effect? Explain.

Answers

The natural level of production is the amount of output that corresponds to the labour market's equilibrium when the actual and expected price levels are equal.

What affects the natural rate of output?When all resources are effectively utilised, an economy produces at its normal level. It is equivalent to the maximum amount of productivity that a country can support. It is "natural" because after a recession or an extended period of overheating, the economy recovers to its normal level of output.The natural level of production is the amount of output that corresponds to the labour market's equilibrium when the actual and expected price levels are equal. The amount of production that, at each level of prices, results in a labour market that is in equilibrium is known as the aggregate supply relation.

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TRUE/FALSE. A company's value proposition helps establish customer expectations, which the company must consistently fulfill.

Answers

The value proposition of a business aids in establishing client expectations, which the business must continually meet. Therefore, the given statement is true.

What is the value proposition?

A company's value proposition, or the whole mix of benefits or economic worth it promises to provide to present and potential customers (i.e., a market segment) who will purchase its goods and/or services, is known in marketing as the "value promise." It is a component of a company's entire marketing plan that distinguishes its brand and gives it a strong market position. A value proposition could be applicable to the whole company, certain divisions within it, client accounts, products, or services.

A value proposition can be expressed in writing as a business or marketing statement (sometimes known as a "positioning statement") that enumerates the benefits of using a certain good or service.

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TRUE/FALSE. in a contract for a sale of goods, the right to receive payment on an account may be assigned unless the sales contract prohibits such an assignment.

Answers

Above statement is incorrect regarding contract for a sale of goods.

What are the basic principles of contract?

Mutual consent, demonstrated by a valid offer and acceptance, sufficient consideration, capability, and legality are the fundamental components needed for the agreement to be a legally enforceable contract. A valid alternative may be able to satisfy some consideration requirements in some states.

What basic principle does privity of contract establish?

A contract cannot grant rights to or impose responsibilities on someone who is not a party to it, according to the common law principle known as privity of contract. The assumption is that only parties to contracts should have the right to file a lawsuit in order to assert their rights or seek compensation for damages.

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When Melanie and her co-workers refused to accept pay cuts, her employer outsourced their programming tasks to workers in another country. This phenomenon is occurring throughout the programming industry. What type of unemployment is this?

Answers

Structural Type of unemployment. When Melanie and her co-workers refused to accept pay cuts, her employer outsourced their programming tasks to workers in another country.

Unemployment, according to the OECD (corporation for economic Co-operation and development), is humans above a distinct age (generally 15) no longer being in paid employment or self-employment but currently to be had for work in the course of the reference duration.

Unemployment is measured via the unemployment fee, that is the variety of individuals who are unemployed as a percentage of the labor pressure (the entire variety of people employed delivered to the ones unemployed).

Unemployment and the popularity of the economic system can be encouraged by way of a rustic through, for instance, financial policy. moreover, the economic authority of a rustic, such as an important bank, can impact the supply and fee for cash thru its monetary coverage.

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an investor company owns 10% of the stock of an investee company and carries the investment at fair value. in 20x1, the investor company acquires an additional 20% of the stock of the same investee company. which of the following are options for the investor company to account for the additional shares purchased

Answers

Continue to carry investment at fair value and apply equity method from date of acquisition of additional investment are options for investor company to account for additional shares purchased.

What is an acquisition?

When a corporation purchases the majority or all of the shares of another business with the intention of assuming control of it, this is referred to as an acquisition. If they buy more than 50% of the shares and other assets of the target firm, the acquirer can make decisions regarding newly acquired assets without the approval of the target company's other shareholders. We commonly hear about the purchases of big, well-known companies since these huge and significant deals frequently make the news. Small and medium-sized firms combine and acquire one another more frequently than large corporations, in reality. Companies acquire competing companies for a variety of reasons. They can be seeking price reductions, increased synergy, increased market share, economies of scale, more specialised products, or a larger market share.

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true/false. management of dime community bancshares has enabled borrowers who have been adversely affected by the to defer interest and principal payments on their loans. this is consistent with he cares act legislation. borrowers are not obligated to make the deferred payments.

Answers

The given statement "Management of Dime Community Bancshares has enabled borrowers who have been adversely affected by the pandemic to defer interest and principal payments on their loans. This is consistent with the CARES Act legislation. Borrowers are not obligated to make the deferred payments."  is true.

The management of Dime Community Bancshares has taken measures to help the borrowers who are facing financial difficulties due to the pandemic. They have been given the option to defer interest and principal payments on their loans, which is in accordance with the CARES Act legislation.

The borrowers are not required to make these deferred payments, giving them some breathing room during these difficult times. This shows the bank's compassion towards their customers and their efforts to provide them with the necessary support during this crisis.

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which of the following limits on the federal government's power to tax is implied but not stated in the constitution?

Answers

States are exempt from paying taxes for their administrative costs is the limit on the federal government's power to tax is implied but not stated in the constitution

What is the federal government?

A federal system of government is one in which a bigger central authority and smaller local and regional administrations are subordinate to it. The Constitution of the United States established the federal government's authority. Federal governments that work best in vast nations with a wide diversity of their population, but where a common culture still persists and binds everyone together, are perfect examples.

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Five characteristics distinguish bond funds. These include maturity range, credit quality, type of bond, country, and _________.

Answers

Five characteristics distinguish bond funds, which include maturity range, credit quality, type of bond, country, and yield.

The maturity range refers to the length of time until the bond reaches its full value, with some bond funds focused on short-term investments and others on long-term investments.

Credit quality refers to the likelihood of the borrower repaying their debts, with higher credit quality bonds being considered safer investments. The type of bond refers to the type of debt instrument, such as corporate bonds, municipal bonds, or Treasury bonds.

The country refers to the location of the borrower, with some bond funds investing in a specific country, while others may be more diversified. Yield refers to the return on investment, with higher-yielding bonds generally being considered riskier.

Understanding these five characteristics can help investors make informed decisions when choosing bond funds as part of their investment portfolio.

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use the range names in formulas to find the total for each month. fill in the total for each month below.

Answers

The total expenses for each month can be found by summing the values in the corresponding row for each column. The totals are:

The total expenses calculated using range sum function in excel based on the given data. The sum function add all the values given in the specific range. Therefore, the expense for each month is given below that are calculated using sum function.

April: 41100

May: 41500

June: 42040

July: 45440

August: 46160

September: 44980

October: 40850

November: 40250

December: 39000

You can find the complete solution  in the attached excel file. The question data is also provided in that excel file.

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An employee's net (or take-home) pay is determined by gross earnings minus amounts for income tax withholdings and the employee'sa. portion of FICA taxes and unemployment taxes.b. portion of FICA taxes, unemployment taxes, and any union dues.c. and employer's portion of FICA taxes, and unemployment taxes.d. portion of FICA taxes and any union dues.

Answers

(a) portion of FICA taxes and unemployment taxes. Gross pay is subtracted with amounts for employee's insurance and income tax withholdings to get the employee's net (or take-home) pay.

The amount that an employee receives after all required deductions have been made is known as their net pay. This includes their share of FICA taxes as well as unemployment insurance. The sum of an employee's gross earnings is the amount earned before any deductions are made. The most typical deductions are for federal and state income taxes, FICA taxes (Social Security and Medicare), unemployment insurance, and any union dues. A portion of these taxes must be paid by the employee, and the employer is responsible for the remaining sum. The employee's net pay is computed by deducting these sums from the employee's gross income.

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(100 POINTS!!!) What culture tends to exhibit their individualistic and independent tendencies by focusing more on the face in the photos, deemphasizing background and context?
A. Westerners (Americans)
B. Westerners (non-Americans)
C. East Asians
D. Europeans

WILL MARK BRAINLIEST

Answers

East Asians culture tends to exhibit their individualistic and independent tendencies by focusing more on the face in the photos, deemphasizing background and context.

What is East Asians culture?

The collective and varied customs and traditions of art, architecture, music, literature, lifestyle, philosophy, politics, and religion that have been observed and upheld by the different ethnic groups of the Asian continent throughout prehistory are collectively referred to as Asian culture.

It is challenging to identify a particular Asian culture or universal components among the immense diversity that has emerged from many cultural fields and three of the four ancient River valley civilizations.

The continent is typically split into six geographical sub-regions, each of which can be distinguished by observable similarities in things like culture, religion, language, and a degree of ethnic homogeneity.

Central Asia, East Asia, North Asia, South Asia, Southeast Asia, and West Asia are among these regions.

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software solutions was hired by jones company on december 1 to install and updated software. the total entire amount of $1,800 in revenues is to be paid to software solutions by jones company when the job is completed the following january 31. as of december 31, one half of the software installation and updates has been completed. on december 31, software solutions makes the following entry to adjust for the revenues earned during december:

Answers

900 in receivables and 900 in service revenue. Even though we have only received half of the expected revenue, we are not paid in cash until the project is finished on January 31.

What adjusted entry, using five days as a full work week, would Abbott make on Wednesday, December 31?

If December 31 falls on a Wednesday, three days' worth of wages are accounted for as a cost as of that day but haven't yet been paid.

What will happen if a journal entry is made to use the prepaid rent account for one month's rent?

The income statement and balance sheet will be affected if an unintentional journal entry and posting for the usage of one month's rent from the prepaid rent account during the year is missed.

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