The balance in supplies on January 1 will be $1070.
What is an adjusting entry?A general ledger entry known as an adjustment journal entry" is made at the conclusion of an accounting period to report any unrealized income or costs during the time. Adjusting entries are modifications to previously written entries in your diary. They specifically ensure that the data you have recorded corresponds to the proper accounting periods.
The cost of consumables utilized during a reporting period is referred to as supplies expense. Until they are consumed, supplies are typically regarded as current assets. Supplies become expenses once they have been consumed. If supplies have a large financial worth, they may qualify as current assets.
Here, the amount of $850 of supplies was purchased in January. The balance will be:
Supplies expense = $950
Add: Ending supplies = $970
Less: Supplies purchased = $850
Beginning supplies = $1070
Therefore, the balance is $1070.
In conclusion, the balance in supplies on January 1 will be $1070.
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To communicate to consumers that its products are both healthy and delicious, red mango would use which of the 4 ps?
To communicate to consumers that its products are both healthy and delicious, red mango would use promotion of the 4 P's.
What are the 4 P's?To successfully advertise a good or service, the four Ps are the main factors that must be carefully thought out and put into practice.The marketing mix's four Ps are product, price, promotion, and place.Place is the location where customers find or buy your product.Price is used to describe how much a good or service will cost. Analysis of the market, the supply and demand, the cost of production, and consumer willingness to pay are all important factors in setting a fair price for a product.Depending on the type of business and what they do best, a firm will offer a certain product.Promotion is the term for targeted and considerate advertising that reaches the intended audience for the product.Learn more about marketing mix here:
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Due to federal supremacy, if a state law is inconsistent with a federal law, the federal law would __________ the state law.
Because of federal supremacy, if a state law conflicts with a federal statute, the federal law will take precedence / preemption
Preemption
The Supremacy Clause of the Constitution declares that the "Constitution and the laws of the United States...shall be the supreme law of the land...regardless of anything in the constitutions or laws of any State to the contrary." This clause is where the preemption idea stems from. As a result, any federal law—including a rule of a federal agency—trumps any incongruous state law.
Both stated and implied preemption are possible. When Congress decides to expressly preempt state law, the courts' only task is to determine whether the state statute under issue is one that the federal law is meant to preempt.
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If c corporations retain their after-tax earnings, when will their individual shareholders be taxed on the retained earnings?
When will shareholders of C businesses that retain their post-tax profits be subject to individual income tax on those retained profits. When shareholders sell their shares for a profit, they must pay taxes.
C corporations will pay tax at a corporate rate of 21% as of the 2020 tax year (down from 35 percent in 2017). Then, dividends are taxed at the owner's personal marginal tax rate, which is up to 37%. (depending on the tax bracket).
Distributions of money or other assets to shareholders will lower the corporation's earnings and profits (E&P), but they won't affect its taxable income. Taxes are paid by the corporation on its taxable income and by the shareholders on any dividends they receive.
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The following product that is found only at walmart is an example of? counterfeit brand manufacturer brand national brand private-label brand premium brand
It is an instance of producer brand. The identify of a producer on a product, used to advertise and promote the product: It is estimated that 85% of all sporting goods are offered underneath a manufacturer's brand.
What is a Manufacturer Brand?
The first aspect that probable comes to thinking when questioning of manufacturing manufacturers are the giants that have constantly been. We're speakme Ford, Nestle, Coca-Cola, Apple and the lot.
Is manufacture the equal as brand?ADVERTISEMENTS: Difference between Manufacturers Brands and Own-Label Brand are as follows: Traditionally, producers branded their products and bought them to clients via the use of the distribution channel. Wholesalers, distributors and outlets offered only the manufacturers' brands.
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https://brainly.com/question/26521390#SPJ4Which city is located on the arno river and had major industries of clothing and banking? it was the home of the wealthy medici family. question 12 options: venice florence rome augsburg
One of the cities in Italy is Florence. The city is situated on the Arno River, which frequently floated through the city in the past.
Around the first century BCE, the Romans established Florence as a military colony. Throughout Florence's lengthy history, it has served as a republic, the seat of the duchy of Tuscany, and the capital of Italy (1865–1870). Florence rose to prominence in study, the arts, trade, and banking between the 14th and 16th centuries. Florence's current splendor is largely a result of her past. In fact, UNESCO added its historic center on the World Heritage List in 1982. The city of Florence still bears witness to the geniuses' enthusiasm for art, power, or religion because they were supported by individuals of astounding fortune.
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The management function of specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals is called _______.
The management function of specifying the goals to be achieved and deciding in advance the appropriate actions needed to achieve those goals is called planning.
What are SMART Goals?Every sector of business and life uses goals because they give us a sense of direction, drive, clarity, and importance. You give yourself an objective to shoot for by making goals. Setting goals is made easier by using a SMART goal. The letters SMART stand for specific, measurable, attainable, realistic, and timely. In order to help you focus your efforts and improve your chances of success, a SMART goal contains all of these elements.
Smart objectives include:Specific: Clearly defined, unambiguous, and well-articulated.
Measurable: With clear criteria that track your progress toward achieving the goal.
Achievable: Obtainable and not insurmountable.
Realistic: Within your reach, practical, and pertinent to your life's work.
Timely: Having a timeline with a start date and an end date that is clearly specified. Urgency is intended to be created.
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Management disclosure of the likely impact of implementing recently issued accounting standards is least likely to:_____.
Management disclosure of the likely impact of implementing recently issued accounting standards is least likely to state that the impact of the standard is impossible to determine.
What is management disclosure?Everything needed for internal organization and maintenance of the financial disclosure process inside your organization is included in disclosure management.
For instance, the Securities and Exchange Commission (SEC) filings are a standard obligation for public companies in the US. A lot of attention is paid to those reports. It's imperative to get everything perfect because any mistakes could have serious repercussions.
Financial statement production is only one aspect of disclosure management. Regulatory filings also need to include narrative justification. The story behind the data must be revealed by management.
As a result, disclosures are a little more complex than internal financial reports. Further complicating matters are other regulatory requirements, such as the need that filings be made in XBRL format.
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Managerial accounting is governed by generally accepted accounting principles (gaap). a. true b. false
This is a False Statement.
Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.
Specifically, management accounting aims to
provide Information for internal Organisation managers providing details to governmental regulating bodiesInformation for shareholders, the accounts payable department, and other parties outside the companyinformation to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.To Learn more about Management Accounting, Click the links.
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If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to?
If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to Triple taxation.
What is taxation?
A tax is a mandatory financial charge or other type of levy that is levied against a taxpayer by a government agency in order to pay for government expenses and other public expenditures. The main goal of taxation is to raise money for the services that the community needs and to support the community's needs.
Therefore,
If individual taxpayers are the shareholders of pst corporation and pst corporation is a shareholder of mno corporation, how many levels of tax is mno's pretax income potentially exposed to Triple taxation.
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Savings by _____ in small dollar amounts is the origin of much of the money that funds business loans in an economy
Savings by Household in small dollar amounts is the origin of much of the money that funds business loans in an economy.
What is loan budget a business?Business financing is a funding opportunity for business owners to access company loans to be able to pay for things like temporary cash flow interruptions, development schemes, inventory and equipment, and seasonal points in activity.
What is a good excuse for a business loan?
Probably the most obvious reason to think a small business loan is to invest in an increase opportunity for your business. When business is booming, continuing to grow your company can help ensure that your profits don't table or shrink.
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To serve both buyers and sellers, marketing fundamentally seeks to do which two things?
The main objective of marketing is to meet consumer expectations and desires in a way that benefits both buyers and sellers.
The required details for Marketing in given paragraph
Marketing is the process of discovering, developing, and delivering value to satisfy a target market's needs for goods and services; this may involve choosing a target audience, deciding which qualities or themes to emphasize in advertising, running advertising campaigns, attending trade shows and public events, designing products and packaging that appeal to consumers, and defining the terms of sale.
The seller, who is usually a manufacturer or merchant, is responsible for marketing. A specialized marketing company or advertising agency may be hired on occasion to complete responsibilities.
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Warbler's salesmen have proposed to decrease the selling price by 50 cents per unit. how many units will need to be sold for warbler to earn at least the same net operating income?
34,286 units will need to be sold for warbler to earn at least the same net operating income.
Calculation:Total Per Unit Sales
$ 300,000 $ 10
Variable expenses 180,000 $6
Contribution margin 120,000 $ 4
Fixed expenses 100,000
Net operating income $ 20,000
New selling price
= Old price - prosed price
=$10-$0.5 = $9.5
Revised contribution margin
= Selling price-Variable costs
= $9.5-$6=$3.5
The Proposed Contribution margin
= Net operating income + Fixed expenses.
= (100,000 +20,000)
= $120,000
Required units to be sold =Proposed Contribution margin/Contribution margin per unit
= $120,000/$3.5
= 34,285.7 units
Hence, 34,286 units will need to be sold for warbler to earn at least the same net operating income.
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10.vinton+credit+corp.+wants+to+earn+an+effective+annual+return+of+15%+per+year+on+its+consumer+loans.+they+use+daily+compounding+of+interest.+what+is+the+apr+on+these+loans?
The Annual Percentage Rate (APR) is the price you pay each yr to borrow money, along with fees, expressed as a percentage. The APR is a broader measure of the value to you of borrowing money considering the fact that it displays no longer solely the interest rate but also the costs that you have to pay to get the loan.
Is APR higher than activity rate?The APR, however, is the greater high quality fee to think about when evaluating loans. The APR consists of not only the hobby cost on the mortgage but also all expenses and other expenses worried in deciding to buy the loan. These fees can include broking fees, closing costs, rebates, and cut price points.
What is a excellent APR?A excellent APR for a credit score card is 14% and below. That is higher than the common credit card APR and on par with the costs charged with the aid of credit playing cards for people with extraordinary credit, which tend to have the lowest everyday APRs. On the other hand, a high-quality APR for a savings card is 0%.
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https://brainly.com/question/2772156#SPJ4can woolworths raise extra capital for expansion
Woolworths can raise extra capital for the expansion a shop in each kingdom in Australia. With the organisation and its stores strolling correctly. Woolworths commenced to experiment with expanding their grocery range more shops began stocking clean culmination and vegetables and a bigger variety of meals.
Woolworths has created an aggressive facet thru its tremendous logistics systems and particularly organized providers' contracts, which ensure that goods are introduced at the proper time. further, the employer uses era to manipulate its delivery chain and stock.
Woolworths has created an aggressive part thru its outstanding logistics systems and relatively organized providers' contracts, which ensure that items are brought at the right time. in addition, the employer makes use of technology to control its supply chain and stock.
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When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at every level of production, then the production possibility frontier is:___________
When the opportunity cost associated with increasing the production of one good or service in terms of another is constant at every level of production, then the production possibility frontier is: Linear.
What is opportunity cost?Opportunity cost is actually known to be the benefits that are forgone or missed by an investor, business, or individual as a result of choosing one alternative over another.
Opportunity costs can easily be overlooked. The benefits may be forgone in opportunity cost as a result of something.
In business, the production possibility frontier (PPF) is actually known to be a curve that shows the possible quantities that can be manufactured of two products if the both products depend on the same resources for their manufacture.
We see here that the options that complete the question is:
A. Hyperbolic
B. Linear
C. Concave
D. Convex.
The answer is that the production possibility frontier will be linear.
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____ should be formed and continuously updated to help the organization as a whole make better strategic decisions.
Portfolios should be formed and continuously updated to help the organization as a whole make better strategic decisions.
What is meant by the term portfolio?In the business world, the term portfolio has to do with the collection of the products and the services that are available in the divisions of a particular company. It has to do with all of the accessible resources that the business is said to own which it uses to get all of its goals.
Hence we can say that portfolios should be formed and continuously updated to help the organization as a whole make better strategic decisions.
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It is safe to assume that fraud has not occurred if one or more elements of the fraud triangle cannot be observed. a. true b. false
TRUE, It is safe to assume that fraud has not occurred if one or more elements of the fraud triangle cannot be observed.
A triangle is a polygon with three edges and three vertices. it's far one of the fundamental shapes in geometry. A triangle with vertices A, B, and C is denoted triangle ABC. In Euclidean geometry, any three points, while non-collinear, determine a unique triangle and simultaneously, a completely unique plane.
Triangles are shapes with 3 sides. There are different names for the sorts of triangles. A triangle's type depends at the length of its sides and the size of its angles (corners). There are three styles of triangle based at the period of the perimeters: equilateral, isosceles, and scalene.
In Geometry, a triangle is a 3-sided polygon that consists of 3 edges and 3 vertices. The maximum crucial property of a triangle is that the sum of the internal angles of a triangle is equal to one hundred eighty tiers. This property is known as attitude sum property of triangle.
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A self-managed team is designed to include members from different areas within an organization, such as finance, operations, and sales.
a. true
b. false
True, A self-managed team is designed to include members from different areas within an organization, such as finance, operations, and sales.
What is self-managed group in leadership?In general, self-managing teams tend to have well-defined job functions and are accountable for monitoring and managing their own performance. Instead of managers advising them what to do, these teams gather and synthesize information, make important findings, and take communal responsibility for completing their goals
What are the benefits of a self-managed team?
Effective decision-making: Self-managed teams can develop quicker or more valuable decision-making skills. Increased productivity: Teams work towards a common goal and are accountable for their actions. When successful, self-managed teams can be 15–20 percent more effective than other types of team.
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A strong brand can be an exceptionally powerful resource for competitive advantage by lowering ________, proxying _____ and inspiring _____.
A strong brand can be an exceptionally powerful resource for competitive advantage by lowering search costs, proxying quality and inspiring trust.
What is mean by Brand?A brand is any attribute that identifies one seller's product or service from that of other sellers, such a name, word, design, symbol, or other feature.Brand acceptance is the degree to which a brand is extensively used by the general public can be referred to as its popularity.Operationally, it is frequently described as a product's market share. The process of giving your company a unique identity in the eyes of your target market and customers is known as branding. A company's logo, visual design, objective, and tone of voice make up its branding at its most basic level.Learn more about brand here:
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Which of these controls on the vehicle is an option (not required) that can be purchased?
The controls on the vehicle that is an option (not required) that can be purchased is: "Powered Window"
What are vehicle options?
Auto Options are vehicle add-ons that new car buyers can select prior to purchase. When buying a car, buyers can be presented with dozens of options, each of which increases the price of the car.
If you want to improve performance but can't afford to buy a higher spec car, it's a good idea to upgrade.
Upgrading your car can be a great way to get the speed, acceleration and efficiency you want at a fraction of the cost.
Upgrades can range from small improvements to major system changes. Below we list some ways to upgrade your car to improve performance:
Choose better tiresUpgrade your brakes. Install the cold air intake.Replace the rubber hose with a silicone hose. Premium silicone version.Modification of the exhaust system. Upgrade your spark plugs.Connect the turbocharger.Learn more about vehicle options:
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The presence of barriers to entry in industry y will generally make acquisitions _______ as an entry strategy. group of answer choices illegal more likely less likely cost prohibitive
The presence of obstacles to entry in a particular market will generally make acquisitions less likely as an entry system.
What are the main factors that drive mergers and acquisitions?Key factors that donate to the success of mergers, acquisitions, joint ventures, and strategic alliances are connected to interpersonal dynamics: trust, contact, commitment, and having managers that can work jointly as a team.
Motives for AcquisitionsAcquire undervalued companies.Diversify to lower risk.Build Operating or Financial Synergy.Take over poorly managed companies and change management.Managerial Self Interest.To learn more about Motives for Acquisitions visit the link
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How can a country achieve higher levels of competition and a variety of products in an industry with only one or two domestic firms producing a good?
Through promoting intra-industry trade, a country can increase levels of competition and the range of products produced in an industry with only one or two local enterprises producing a good. International trade for goods produced by the same business is known as intra-industry trade.
According to the idea of economies of scale, production costs often decrease as output scale increases. When it makes it possible for one or two large producers to supply the entire country, it becomes particularly important to international trade. A way to maintain consumer choice and competition while combining economies of scale-driven lower average manufacturing costs is through international trade.
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This federal agency presided over all elements of war production from the distribution of raw materials to the prices of manufactured goods.
This federal agency oversaw all aspects of military manufacturing, including the supply of raw materials and the costs of finished items are known as War Industries Board
Federal agencies are specialized government entities created for a particular function, such as resource management, industry financial regulation, or matters of national security.
Between July 1917 and December 1918, the War Industries Board (WIB) was in place to organize and direct American manufacturing by establishing priorities, determining prices, and standardizing goods to aid the country's and its allies' military endeavors. US government organization called the War Industries Board (WIB) was basically established to oversee the procurement of military goods.
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Cash flow to creditors equals:_____.
A. interest paid minus net new borrowing
B. stock repurchased plus interest paid
C. interest paid plus net new borrowing
D. interest plus dividends paid
The cash flow made towards the creditors equals the interest being paid plus the amount of net new borrowings. Therefore, the option C holds true.
What is the significance of cash flow?A cash flow can be referred to or considered as the inflow and outflow of cash in the business due to regular business activities that take place during any given financial period.
In case of outflow to creditors, the company can find the total cash flow by the addition of interest paid plus the net new borrowings for the firm during the same period.
Therefore, the option C holds true and states regarding the significance of cash flow.
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When the production possibilities frontier is a straight line, then production occurs under conditions of:_______
The slope of the production possibility curve remains constant if the curve is a straight line. This indicates that the two commodities' marginal rate of technological substitution is similarly constant.
What Is the Production Possibility Frontier (PPF)?The production possibility frontier (PPF) is a curve on a graph that depicts the potential output of two goods whose production is dependent on the same limited resource. Another name for the PPF is the production possibility curve.
Opportunity cost in the production of commodities is what is lost when resources are diverted from one product to another. A curve on a graph depicts the quantity that can be generated to its maximum.
The production possibility frontier (PPF), which depicts situations that are impractical given the available resources, is above the curve.
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The equation used to determine the approximate real interest rate is?
The equation that is used for the purpose of determining the approximate real interest rate is calculated by the difference between the actual interest rate less the rate of inflation in an economy.
What is the significance of real interest rate?The real interest rate can be referred to or considered as an adjusted rate of interest, which is computed by comparing the difference of nominal interest against the inflation status in an economy during a given period of time. It is written in the form of equation as,
Real Interest Rate ≅ Actual Rate of Interest – Rate of Inflation
Therefore, the significance regarding real interest rate has been aforementioned.
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The market for a perfectly competitive industry clears at a price of $3, and the minimum average cost for all firms is $2.50. in the long run, we would expect an increase in?
The market for a perfectly competitive industry clears at a price of $3, and the minimum average cost for all firms is $2.50. In the long run an increase in the Number of firms is being observed. Thus the correct option is B.
What is a perfectly competitive industry?A market where all consumers and manufacturers have complete and balanced information and there are no expenses indicates perfect competition which is considered an ideal variety of market structure.
When the perfectly competitive industry seeks a Price of $ 3 and the minimum average cost is $2.50, in this case, the increase in the number of firms is observed as in this type of market there is no barrier to entering to the market.
Therefore, option B is appropriate.
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The complete question is
The market for a competitive price-taker market clears at a price of $3, and the minimum average cost for all firms is $2.50. In the long run, we would expect an increase in
A) each firm's output.
B) the number of firms.
C) each firm's profit.
D) each firm's average cost.
All of the following are typically classified as current liabilities except? returnable deposits. unearned revenues. undistributed stock dividends. current maturities of long-term debt.
Undistributed stock dividends is not included in current liabilities although returnable deposits. unearned revenues and current maturities of long-term debt are best example of current liabilities .
What are Current Liabilities ?
A company's short-term financial commitments that are due in a year or within a current operating cycle are known as current liabilities. An organization's operating cycle, also known as the cash conversion, it is the period of time that required to buy inventory and turn that inventory into cash through sales. The amounts owed to suppliers in the form of accounts payable are indeed an illustration of a current liability.
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Excellent inc. Manufactured 6,000 units during the month of may. It incurred direct materials cost of $120,000 and manufacturing overhead costs of $48,000. If its per-unit prime cost was $31. 20 per unit, how much direct labor cost did it incur during may?.
Excellent inc. Manufactured 6,000 units during the month of may. It incurred direct materials cost of $120,000 and manufacturing overhead costs of $48,000. If its per-unit prime cost was $31. 20 per unit, direct labor cost did it incur during may be $67,200.
What is direct labor cost?
Wages paid to employees directly related to producing goods or rendering customer services are referred to as direct labour costs. The overall direct labour cost exceeds wages paid by a significant amount. The direct labour cost is equal to the pay rate times the amount of time spent working on the project, or Direct Labor Cost = Pay Rate * Project Time. So, if a job required 2 hours of work at a rate of $20 per hour, the direct labour cost would be $40.
Therefore,
Excellent inc. Manufactured 6,000 units during the month of may. It incurred direct materials cost of $120,000 and manufacturing overhead costs of $48,000. If its per-unit prime cost was $31. 20 per unit, direct labor cost did it incur during may be $67,200.
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Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is:_____.
Richards billed patients for $12,000 of services rendered. the appropriate journal entry to record this transaction is Credit Revenue. The ordinary equilibrium for your value is known as a credit balance, and in that capacity, revenues must be recorded as a credit and not a charge.
What does Credit Revenue means?In Accounting, revenues are credits since revenues make proprietor's value or investors' value increment.
Revenue Credit implies the revenue from the Arrangement's Speculation Assets if any, that are held in the Revenue Credit Record inside the Arrangement and that stay after the installment of Plan costs.
At your bookkeeping year's end, all revenue account credit adjusts must be shut and afterward moved to your capital record, accordingly expanding your value.
Therefore Credit Revenue is correct.
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