Ken Jones, an architect, organized Jones Architects on April 1, 2018. During the month, Jones Architects completed the following transactions:
Transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $18,000.
Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder.
Paid April rent for office and workroom, $3,150.
Paid cash for supplies, $1,450.
Purchased office and computer equipment on account, $6,500.
Paid cash for annual insurance policies on automobile and equipment, $2,400.
Received cash from a client for plans delivered, $12,000.
Paid cash to creditors on account, $1,800.
Paid cash for miscellaneous expenses, $375.
Received invoice for blueprint service, due in May, $2,500.
Recorded fees earned on plans delivered, payment to be received in May, $15,650.
Paid salary of assistant, $2,800.
Paid cash for miscellaneous expenses, $200.
Paid installment due on note payable, $300.
Paid gas, oil, and repairs on automobile for April, $550.
Required:
1. Record the above transactions (in chronological order) directly in the following T accounts, without journalizing. Cash, Accounts Receivable, Supplies, Prepaid Insurance, Automobiles, Equipment, Notes Payable, Accounts Payable, Common Stock, Professional Fees, Rent Expense, Salary Expense, Blueprint Expense, Automobile Expense, Miscellaneous Expense. To the left of each amount entered in the accounts, select the appropriate letter to identify the transaction.
2. Determine account balances of the T accounts. Accounts containing a single entry only (such as Prepaid Insurance) do not need a balance.
Answers
General journal accounts are represented graphically by T Accounts. These instruments are used to track how various transactions affect the account balances.
What should be recorded in general journal?A general journal is a volume of unedited commercial transactions listed in date-by-date chronological sequence. It is the initial location where a transaction is noted. After that, the funds are deposited to the relevant accounts, such as accounts receivable, cash, or asset accounts.The five columns Date, Account Title and Description, Posting Reference, Debit, and Credit are common in general journals.Asset sales, depreciation, interest income and expense, and stock sales are a few examples of transactions that are recorded in the general journal.Money due to your company is represented by accounts receivable, an asset account. Accounts payable is an expenditure account for money that your company owes. Cash: Any liquid assets that your business possesses, such as owners' equity (an equity account). Sales or purchases affecting your inventory are considered an asset account.Here I attached the answers
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Related Questions
Indifference curves and preferences Andrew likes both soda and milk. Assume that the more is better principle applies to Andrew; that is, he would always prefer to consume more of either good, holding the consumption of the other good constant. The points on Figure 1 represent combinations of milk and soda that Andrew might choose to consume. Figure 2 shows the same points as Figure 1, but it also shows some of Andrew's in difference curves: 11, 12, and 13. These curves show more information about Andrew's preferences than Figure Figure 1 Figure 2 HY SODA (Cans) SODA (Cans) O o MILK (Glasses) MILK (Glasses) Complete the following table by indicating which bundles Andrew strictly prefers to A given only the information in each figure. Information Given By... B C D E F G H Figure 1 Figure 2 Indicate whether each of the following statements is true or false given the graphs. False Statement True Figure 1 does not provide enough information to compare the utility Andrew receives from B versus F. 0 Figure 2 indicates that Andrew is indifferent among bundles B and F.
Answers
Andrew is not indifferent between B and F, B lies on higher indifference curve. It is preferred over F.
What is indifference curve?In economics, an indifference curve joins points on a graph that represent various quantities of two goods, points between which a consumer is indifferent. In other words, any two-product combinations shown by the curve will offer the consumer equivalent levels of utility, and the consumer has no preference for one combination or bundle of goods over another combination on the same curve.
Figure 1 : E is the bundle which Andrew strictly prefers to A (because E has more of both the goods).
Figure 2: B and E are the Bundles which Andrew strictly prefers to A( both the bundle B and E lies on higher indifference curves).
Figure 1 does not provide enough information to compare the utility Andrew receives from B versus F True.
( This is true, without indifference curve these two bundles are incomparable)
Figure 2 indicates that Andrew is indifferent between bundles B and F False
Thus, Andrew is not indifferent between B and F, B lies on higher indifference curve. It is preferred over F
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are the group of invertebrate chordates whose body is up to 7 cm long, laterally compressed, and elongated like that of a fish.
Answers
The group of invertebrate chordates whose body is up to 7 cm long, laterally compressed, and elongated like that of a fish is Lancelets
What are Lancelets?The order Amphioxiformes, which includes about 30 to 35 species of "fish-like" benthic filter-feeding chordates, includes lancelets, also known as amphioxi. They are the Cephalochordata subphylum's contemporary representatives. Any of a few members of the invertebrate subphylum Cephalochordata of the phylum Chordata are known as amphioxuses, also known as lancelets. Small marine creatures known as amphioxi are more prevalent in coastal waters of warmer regions of the world than in those of temperate regions. Except for Antarctica, all continental land masses have lancelets, which are marine invertebrates that dwell in shallow, tropical and temperate seas. Branchiostoma (23 species) and Epigonichthyes are two recognized and distinguished main groupings (7 species; Poss and Boschung, 1996).To learn more about Lancelets refer to:
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a company uses the allowance method to account for uncollectible accounts receivables. when the firm writes off a specific customer's account receivable
Answers
the firm writes off a specific customer's account receivable than there is no effect on total current assets or total expenses.
What does the term "assets" mean?You can sell the things you possess for money; these are your assets. An asset is any resource that a company owns or has control over in accounting terms. Whatever could be sold for money qualifies. We can determine the equity value by analysing a balance sheet's assets, liabilities, and other items. An asset is any resource that a company or other economic organisation owns or has control over. It is everything that has the potential to provide gains in terms of the economy. Assets are ownership worth that may be exchanged for cash.
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ou work as the it security administrator for a small corporate network in the united states of america. the name of your site is www.corpnet.xyz. the company president has received several questionable emails that he is concerned may be malicious attacks on the company.
Answers
It is your duty as the company's IT security administrator to guarantee the network's security and fend off hostile attempts. The following stages can be used as a strategy for handling the circumstance:
Look into the erratic emails: Examine the emails in question and look for any warning signs, such as an unknown sender, unusual attachments, or shady links.
Use online threat analysis tools to look for any harmful links or attachments if there are any. If there are any links or attachments in the email, do so.
The suspected emails should be quarantined if they are found to be malicious in order to stop them from propagating to other network users.
Educate the staff: It's important to teach staff how to spot suspicious emails and what to do if they get one.
Network monitoring: Keep a close eye on the network to spot any possible security dangers and take the necessary precautions to ward them off.
Undercounting or misrepresenting populations in census data can have significant political repercussions, including how political representation and resources are distributed to regions that need it. It may also lead to a dearth of reliable data needed to support critical policy choices. For instance, if a certain neighborhood is underrepresented in the census, they could not get enough funding for public services like infrastructure and education.
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maximum discount product sql hackerrank solution which product is on the maximum discount for each category. in the case of multiple products having the same maximum discount within a category, print the product with the minimum product id.T/F
Answers
False. To solve the "Maximum Discount Product" problem on SQL HackerRank, you can use a combination of subqueries, joins, and aggregation functions.
First, you'll need to calculate the discount for each product by subtracting the list price from the selling price. Next, you can group the products by category and find the maximum discount for each group using the MAX() function. To find the product with the minimum ID for each category having the maximum discount, you'll need to use a subquery that returns the ID of the product with the maximum discount for each category. Finally, you can join the products table with the subquery result to get the desired output.
The final query will look something like this:
SELECT
p.product_name,
p.category,
p.discount
FROM
products p
JOIN (
SELECT
category,
MAX(discount) AS max_discount
FROM
products
GROUP BY
category
) cat_discount ON
p.category = cat_discount.category AND
p.discount = cat_discount.max_discount
WHERE
p.id = (
SELECT
MIN(id)
FROM
products
WHERE
category = p.category AND
discount = p.discount
)
ORDER BY
p.category;
This query will return the product name, category, and discount for each product with the maximum discount for each category, and the minimum product ID in case of multiple products with the same maximum discount.
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when a predetermined markup is applied to a base to determine the target selling price, the company is using __________
Answers
When a predetermined markup is applied to a base to determine the target selling price, the company is using cost plus pricing.
What is cost plus pricing?
Markup pricing is another name for cost-plus pricing. It is a form of pricing where the selling price of a product is determined by adding a set percentage to the cost of producing one unit of the good. This pricing strategy ignores prices set by rivals and focuses only on unit costs. One of the various pricing techniques used by businesses to try to boost sales and profits is cost plus pricing. Cost-plus pricing offers no assurance that expenses will be met or a profit will be made.
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whereas almost all employment was in the cbd in 1900, today even the most centralized private economic function,___employment, typically has less than 20 percent in the cbd.
Answers
whereas almost all employment was in the cbd in 1900, today even the most centralized private economic function,office employment, typically has less than 20 percent in the cbd.
The history and legality of cannabis and hemp are entwined with the history of CBD. Cannabis-infused tea was first used as medicine about 2700 BC to treat a number of illnesses, such as memory loss, malaria, rheumatism, and gout. Cannabis was utilised by the ancient Egyptians, Greeks, and Romans as a remedy and to ease pain. Up until 1901, Queen Victoria is thought to have taken CBD to treat menstruation pains.
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match the strategic operation decisions (in the left column) with the other functional group affected and involved in the decision due to the interrelated nature of the decisions domain (in the right column).
Answers
Capacity - Finance and Marketing. Workforce - Human Resources. Production/Process Innovation - Engineering/Human Resources. Supply Chain Network - Finance, Engineering, Marketing, Sales. Production Planning and control - Finance, Human Resources.
Finance and marketing: what are they?While marketing focuses on product development, pricing strategy, distribution channels, promotions, sales targets, sales volume, and sales compared to competitors, finance is concerned with all financial aspects of a business, including profits, costs, the feasibility of projects, and overall financial performance.
Finance wants to be in charge of the money, while marketing wants to spend it. Marketing want the freedom to take chances, whereas finance seeks structure. Marketing seeks initiative and action, while finance seeks procedures and technique. Finance wants auditable and documented documents, while marketing wants to move quickly.
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____
In business calculus, what does CPR stand for?
Answers
match these vocabulary words with their definitions. 1 . apropos suited to the time, place, or occasion 2 . collective bargaining negotiation between organized workers and employers on wages, hours, conditions, and benefits 3 . sharecropper a tenant farmer who pays a share of his crop as rent for his land
Answers
Collective bargaining is the process through which employees negotiate contracts with their employers through their unions to set their terms of employment, including pay, benefits, working conditions, hours.
What does being a sharecropper mean?In a legal arrangement involving agricultural land, a landowner let a tenant to utilise the property in exchange for a portion of the crops grown there.In a practice known as sharecropping, families rent small parcels of land from a landowner in exchange for a share of the harvest that would be given to the landowner at the end of each year.Sharecropping was like "slavery by another name" for recently released individuals, many of whom worked the same property, resided in the same homes, and were directly supervised by the same overseers. A sharecropping agreement on Cameron lands demonstrates the fundamental inequity of the system.VOCAB :
apropos - Suited to the time, place, or occasion.
collective bargaining - Negotiation between organized workers and employers on wages, hours, conditions, and benefits.
sharecropper - A tenant farmer who pays a share of his crop as rent for his land.
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Which of the following groups of companies are all examples of a merchandising business?
A. GameStop, Sony, Dell
B. Delta Airlines, Marriott, Gap
C. Gap, Amazon, NIKE
D. GameStop, Best Buy, Gap
Answers
D. GameStop, Best Buy, Gap.
Group companies that are examples of merchandising business are GameStop, Best Buy, Gap. A merchandising business is a company that buys finished goods and sells them directly to customers without significant modifications. Companies listed in group D all fit this description, as they buy and sell consumer goods such as electronics, clothing and video games.
There are several benefits to operating as a merchandising business, including:
Higher profit margins: Trading companies usually enjoy higher profit margins compared to companies that manufacture products, because they do not incur the costs associated with producing goods.Easier inventory management: Trading companies only need to manage inventory of finished goods, which is usually easier than managing inventory of raw materials, components, and finished products.You can learn more about merchandising business here brainly.com/question/14693584
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TRUE/FALSE. items that would fall in the investing activities section of the statement of cash flows include:
Answers
It is true that certain items would be listed in the section on investment activities in the statement of cash flows.
Which of the following activities is included in investing in the cash flow statement?What Sorts of Activities Are Included in the Cash Flow from Investing Activities? Cash flow from capital operations includes all capital expenditures, loans, and the sale of investment securities.
What does the cash flow statement's investing activities show?Cash flows from investment operations include loans that are made and repaid (apart from program loans), as well as the buying and selling of debt or equity instruments.
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holloway company earned $9,700 of service revenue on account during year 1. the company collected $8,245 cash from accounts receivable during year 1. required based on this information alone, determine the following for holloway company. the balance of the accounts receivable that would be reported on the december 31, year 1, balance sheet. the amount of net income that would be reported on the year 1 income statement. the amount of net cash flow from operating activities that would be reported on the year 1 statement of cash flows. the amount of retained earnings that would be reported on the year 1 balance sheet.
Answers
a. The balance of the business accounts receivable that would be reported on the December 31, Year 1, balance sheet: 4000.
b. The amount of net income that would be reported on the Year 1 income statement: 18000.
c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows: 14000
d. The amount of retained earnings that would be reported on the Year 1 balance sheet: 18000
What is a business?
In order to support one's way of life, owning a business entails producing, acquiring, and retailing things (such as goods and services).Despite using a business name, the owner of the company is still liable for any debtsthat that are made by the company because they are one and the same.The owner's personal property may be seized by creditors if the business accrues debts.A firm structure cannot be subject to corporate tax rates. The owner is required to pay personal taxes on all business profits.To know more about business, click the link given below:
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11.5 a company is trying to predict the long-run market share of a new men's deodorant. based on initial marketing studies, they believe that 35% of new purchasers in this market will ultimately try this brand. they believe that customers will purchase their brand about 60% of the time in the future. preliminary data also suggest that the brand will attract heavier-than-average buyers, such as those who exercise frequently and participate in sports, and that they will purchase about 20% more than the average buyer. 8 based on an example of the parfitt-collins model in gary l. lilien, philip kotler, and k. sridhar moorthy, marketing models (englewood cliffs, nj: prentice hall, 1992): 483. a- calculate the long-run market share that the company can anticipate under these assumptions. b- develop a general model for predicting long-run market share. explain why you chose the model.
Answers
The general formula for long-run market share is Market penetration rate X Purchase rate X Market development
Calculating the long-run market shareTo calculate the long-run market share of the new men's deodorant, we'll use the following information:
35% of new purchasers will try the brandCustomers will purchase the brand 60% of the timeThe brand will attract heavier-than-average buyers who will purchase 20% more than the average buyerGiven these assumptions, we can calculate the long-run market share as follows:
35% of new purchasers try the brand x 60% purchase rate = 21% market share
Next, we need to account for the heavier-than-average buyers, who will purchase 20% more than the average buyer. To do this, we'll multiply the market share by 1.2:
21% market share x 1.2 = 25.2% market share
So, the company can anticipate a 25.2% long-run market share under these assumptions.
Now, To develop a general model for predicting long-run market share, we'll use a modified version of the Parfitt-Collins Model. This model considers the following factors:
Market penetration rate: The percentage of new customers who try the brandPurchase rate: The percentage of customers who purchase the brandMarket development: Any increase in market share due to factors such as heavier-than-average usage or increased customer loyaltyUsing this model, the general formula for long-run market share is:
Market penetration rate X Purchase rate X Market development
I chose this model because it considers all of the relevant factors that can impact a brand's long-run market share and provides a simple, straightforward way to predict it based on available data.
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insurance companies are interested in the mean health costs each year of their clients, so that they can determine the costs of health insurance. define the following in terms of the study. give examples where appropriate.
Answers
The concept is Insurance Companies, a financial intermediary offering direct insurance. The answer is as: a 5, b 2, c 4, d 3, e 1, f 6.
Insurance companies are financial intermediaries that provide direct insurance or reinsurance services, providing financial protection against possible future risks. Their goal is to reduce financial uncertainty and help cope with accidental losses.
It does this by replacing the professional insurer with a small family fee - the insurance premium - to take on the risk of a major loss and promise to pay if it does happen.
A) Data: The insurance company study includes a breakdown of 400 annual healthcare costs for customers.
B) Variable: annual healthcare costs
C) Sample: 400 customers included in this study by the insurance company
D) Statistics: average annual healthcare costs for the 400 customers included in this study by the insurance company
E) Universe: all customers of the insurance company
F ) Parameter: Average annual care costs for all insurance customers
Question:
Insurance companies are interested in their customers' average annual healthcare costs to determine their health insurance costs. Match the following:
A) Data: 1) all customers of the insurance company
B) Variable: 2) annual healthcare costs
C) Sample: 3) average annual healthcare costs for the
400 customers included in this study by the
insurance company
D) Statistics: 4 )400 customers included in this study by the
insurance company
E) Universe: 5) The insurance company study includes a
breakdown of 400 annual healthcare costs
for customers.
F ) Parameter: 6) Average annual care costs for all
insurance customers
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which of the following are correct statements about the three primary financial statements? (select all that apply).
Answers
The three financial statements are: (1) the income statement, (2) the balance sheet, and (3) the cash flow statement.
What are the three financial statements?
The information included in a company's financial statements serves as the foundation for corporate accounting. Lenders, investors, and management all review this data to assess the company's financial health.
Utilizing data from the balance sheet, income statement, and cash flow statement, important financial ratios are calculated. These ratios provide information about the company's financial performance as well as any issues that might need to be fixed. Each of the balance sheet, income statement, and cash flow statement's separate facts and corresponding information. When combined, the three statements present an accurate picture of the company's operating activities.
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all of the following would suggest the use of personal selling-driven marketing communications strategies except when
Answers
Repetitive contact is not recommended by personal selling-driven marketing communications techniques.
What is marketing communications?
Marketing communications refer to a company's or an individual's plan for using various forms of communication to connect with their target market. Advertising, direct marketing, branding, packaging, sales presentations, trade show appearances, etc. are all examples of marketing communication. Every method and medium of interacting with your target audience is covered by the marketing communication mix, which is the "Promotion" of the marketing Ps. The marketing communication mix, upon which everything else in sales and marketing is based, is in many ways the core of your marketing strategy.
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choose the one true statement about the blood-brain barrier. group of answer choices because of the blood-brain barrier, polar drugs injected into the blood enter the brain quickly it is formed by tight junctions in the capillary walls of the brain is a double membrane located in between the brain and the brain's capillaries lipid-soluble drugs usually cross the blood-brain barrier by active transport
Answers
The blood-brain barrier is formed by tight junctions in the capillary walls of the brain.
What is the blood-brain barrier?
The blood-brain barrier is a highly selective semipermeable barrier that separates the brain and the spinal cord from the circulatory system. It is formed by the close packing of cells in the walls of the capillaries that supply the brain, and helps to protect the central nervous system from harmful substances in the blood while allowing the passage of essential nutrients and oxygen. The tight junctions between the cells in the capillary walls make it difficult for most drugs, pathogens, and other substances to enter the brain, which helps to maintain a stable environment for neural function.
Hence, the answer is, the blood-brain barrier is formed by tight junctions in the capillary walls of the brain.
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FILL IN THE BLANK Unlike the customer benefit package design and configuration stage of designing goods and services, the detailed goods, services, and process design __________________.
Answers
Unlike the customer benefit package design and configuration stage of designing goods and services, the detailed goods, services, and process design focuses on implementation.
How does product design work?
Product design is defined as the process of conceiving, developing, and iterating goods that answer certain needs in a market or solve problems for customers. Identifying the end-user customer, or the individual for whom the products are being designed, is the key to a successful product design.
The detailed products, services, and process design stage of developing goods and services, as opposed to the customer satisfaction package design and design stage, concentrates on implementation.
Therefore, A good product design must recognize the end consumer or the person for whose benefit the product is being created.
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prepare a balance sheet for alaskan peach corp. as of december 31, 2019, based on the following information: cash
Answers
An organization's assets, liabilities, and shareholder equity are listed on a balance sheet, which is a financial statement.
What is a balance sheet used for?An organization's financial balances are summarized on a balance sheet in financial accounting, whether the organisation is a sole proprietorship, business partnership, corporation, private limited company, or another type of institution like the government or a not-for-profit.An accounting document known as a balance sheet lists a company's assets, liabilities, and shareholder equity. One of the three primary financial statements that are used to analyze a corporation is the balance sheet. It offers a picture of a company's financial situation as of the publication date, including what it owns and owes.Completed question :
Prepare a balance sheet for Alaskan Peach Corp. as of December 31, 2019, based on the following information:
cash = $207,000;
patents and copyrights = $861,000;
accounts receivable = $267,000;
tangible net fixed assets = $5,240,000;
inventory = $552,000;
accounts payable = $282,000;
notes payable = $175,000;
accumulated retained earnings = $4,726,000;
long-term debt = $1,110,000.
(Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
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If a stock pays dividends in the middle of the investment period, these dividends should not be accounted for when calculating HPR for this period.
True or False
Answers
The statement exists False. A greater HPR estimate indicates that an investment is more likely to generate a return, whilst a lower HPR indicates that a loss may be anticipated.
What is meant by investment period?Investment Period refers to the duration of an Investment Deposit, which may be one, three, six, nine, or twelve months or any other duration chosen by the Customer and approved by the Bank.
The holding period return, which is typically represented as a percentage, is the overall return realized by owning an asset or portfolio of assets over a given holding period. The entire returns from the asset or portfolio are used to determine holding period return (income plus changes in value).
However, a greater HPR estimate indicates that an investment is more likely to generate a return, whilst a lower HPR indicates that a loss may be anticipated. Let's dissect this issue to determine the significance and importance of the many variables. income of 600. P0's initial value is 20,000.
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marketing research should only be conducted when there is a need to make a decision, and information is needed for decision-making purposes.
Answers
At this stage, a problem statement should be developed that summarizes the problem succinctly.
A problem statement is a brief summary of a problem that needs to be solved or of a situation that needs to be improved. It points out the discrepancy between a process's or product's existing state and desired state. A problem statement is a succinct, precise description of a problem or difficulty that captures what you wish to improve. Focusing on the issue, its significance, and those it affects helps you, your team, and other stakeholders. A excellent issue statement should raise awareness and encourage original thought. A issue statement is a succinct and specific overview of the research problem you intend to answer. A issue statement identifies the discrepancy between your intended outcome and the existing situation.
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true/false. advancements in technology and the growth of transportation services have prevented many smaller, less developed countries from participating in global supply chains.
Answers
It is true that advancements in technology and growth of transportation services have prevented many smaller, the less developed countries from participating in the global supply chains.
What is a supply chain?A supply chain is a highly developed logistical system made up of companies that convert raw materials into finished items before distributing them to end users. Complex supply chain systems allow used commodities to re-enter the chain at any point where there is recyclable residual value. In a supply chain, vendors are usually ranked according to their "tier," with first-tier vendors delivering to customers directly, second-tier vendors supplying to the first tier, and so forth. To illustrate a typical supply chain, the steps of production and distribution can be divided into two groups. Manufacturing facilities are used during the production stage to generate components and partially finished items. Through local and national distribution hubs, products are sent to consumers as part of the distribution process.
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Also “price increases by ____ percent (rounded to two decimal places).”
P.S. Please include your calculations, I want to know how for future reference. Thank you.
Answers
The real GDP in 2011 using 2011 prices is $24,150.
The real GDP in 2012 using 2011 prices is $25,620
Real GDP grew by 6.09%
The price index for 2012 using 2011 as base prices is 122.87%.
What is the real GDP?
Real GDP is the total output of a country that is calculated adjusting for inflation.
Real GDP in 2011 = total value of CDs produced + total value of tennis racket
= (100 x $21) + (210 x $105)
= $2,100 + 22050
= $24,150
Real GDP in 2012 = (120 x $21) + (220 x $105)
= $2520 + $23100
= $25,620
Growth in Real GDP = ($25,620 / $24,150) - 1 = 0.06087 = 6.087% = 6.09%
Price index for 2012 = (nominal GDP in 2012 / real GDP in 2012) x 100
Nominal GDP in 2012 = (120 x $24) + (220 x $130)
= $2,880 + 28600
= $31,480
Price index for 2012 = ($31,480 / $25,620) x 100 = 122.87%
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kingston company sells its product for $200 per unit. the company's accountant provided the following cost information: manufacturing costs $21,700 40% of sales selling costs $17,800 23% of sales administrative costs $21,400 8% of s
Answers
Kingston Company's contribution margin ratio is a measure of the amount of each sale that is available to cover fixed costs and contribute to profit. It is calculated by dividing the contribution margin by the sales revenue.
To find the contribution margin, we first need to calculate the total variable costs for each unit sold.
Manufacturing costs are $21,700 + 40% of sales, which is $21,700 + 40% * $200 = $87,700 for total units sold.
Selling costs are $17,800 + 23% of sales, which is $17,800 + 23% * $200 = $57,800 for total units sold.
Administrative costs are $21,400 + 8% of sales, which is $21,400 + 8% * $200 = $32,400 for total units sold.
Adding these variable costs gives us a total variable cost of $87,700 + $57,800 + $32,400 = $178,900 for total units sold.
The contribution margin is calculated by subtracting the total variable costs from the sales revenue. So, contribution margin = $200 * total units sold - $178,900 = $200 * total units sold - $178,900.
Finally, the contribution margin ratio is calculated as contribution margin divided by sales revenue. So, contribution margin ratio = contribution margin / $200 * total units sold = contribution margin / $200 * total units sold. Overall, the contribution margin ratio indicates the proportion of each sale that contributes to the covering of fixed costs and contributes to profit, which is a crucial metric for a company's financial health.
The complete question is:
kingston company sells its product for $200 per unit. the company's accountant provided the following cost information: manufacturing costs $21,700 + 40% of sales selling costs $17,800 + 23% of sales administrative costs $21,400 + 8% of sales. What is Kingston Company’s contribution margin ratio?
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through marketing research, the atlanta falcons learned it has younger fans and is not attracting older fans. the organization conducted marketing research to determine if a radio advertising and engagement campaign they were considering that would be targeted to the older fans would be successful. in its second use of research, the atlanta falcons employed marketing research.
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The second use of research for the Atlanta Falcons was to measure the effectiveness of their radio advertising and engagement campaign.
What is advertising?Advertising is a form of marketing communication used to encourage, persuade, or manipulate an audience (viewers, readers, or listeners) to take or continue to take some action. It includes the use of various media such as print, radio, television, outdoor, digital and social media, and other forms of communication to reach consumers.
This involved analyzing the target audience's response to the campaign, including whether the older fans it was targeting were responding favorably. The research was used to assess the effectiveness of the campaign, identify any potential issues or concerns, and make adjustments to the campaign as needed. This research was used to ensure that the campaign was successful and to ensure the Atlanta Falcons were making the most of their marketing budget.
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Compared to partnerships and sole proprietorships, a major advantage of the C (conventional) corporation as a form of business ownership is that it: A. has the ability to raise more money.B. is easier and less expensive to form.C. qualifies for simplified tax treatment.D. creates unlimited liability for its owners
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The answer is option C. qualifies for simplified tax treatment, which is one advantage of conventional corporation over partnerships and sole proprietorships.
A simple tax definition is what?A tax is a forced payment or levy that is gathered by local, state, and federal governments from citizens or companies to pay for essential public goods, services, and activities.
What is the use of tax money?Spending by the federal government covers a variety of expenses, including Social Security and Medicare as well as equipment for the military, upkeep of the nation's roads, and education. Government spending on Social Security reached a peak in 2022.
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fill in the blank. ___is used in both microeconomics and macroeconomics. please choose the correct answer from the following choices, and then select the submit answer button. answer choices the concept of supply and demand the focus on the overall level of the economy the focus on the actions of individual firms the same set of economic tools
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The concept of supply and demand is a fundamental concept in economics that is used in both microeconomics and macroeconomics.
It describes the behavior of market participants in determining the price of a good or service based on the availability and desire for that good or service. In microeconomics, the focus is on the interactions of individual firms and consumers in a specific market, while in macroeconomics the focus is on the overall level of the economy. In a perfectly competitive market, the price of a good or service is determined by the intersection of the supply curve and the demand curve. The supply curve represents the quantity of a good or service that a producer is willing to produce and sell at different prices, while the demand curve represents the quantity of a good or service that consumers are willing to buy at different prices. When the supply and demand curves intersect, the price of the good or service is at its equilibrium, and the quantity of the good or service being produced and consumed is efficient and maximizes total surplus for both consumers and producers. However, in real-world markets, there may be imperfections or deviations from perfect competition, such as market power, information asymmetry.
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select all that apply when recording transactions into the accounting equation, which of the following statements are correct? (check all that apply.) multiple select question. the accounting equation must always remain in balance. after recording the transaction, total assets will always equal total liabilities plus equity. expenses are listed on the right side of the accounting equation and will increase the equity account. cash must always equal equity.
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The accounting equation must always remain in the balance is the correct statement.
What is accounting?Accounting is the practise of recording financial transactions for a business. The accounting process includes summarising, analysing, and reporting these transactions to oversight organisations, regulatory bodies, and tax collection agencies. A company's operations, financial status, and cash flows are all covered in detail by the financial statements that are used in accounting. They also give a brief review of all financial transactions that occurred over a specified accounting period. In order to make informed business decisions, management can considerably benefit from the data generated by many streams of accounting, including cost accounting and managerial accounting. The financial statements of a large firm that describe its operations, financial situation, and cash flows during a certain time period are concise and consolidated reports based on thousands of discrete financial transactions.
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fill in the blank. when___, a firm will supply a higher quantity at any given price for its output, and the supply curve will shift to the right. question 3 options:
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When costs of production fall, a firm will supply a higher quantity at any given price for its output, and the supply curve will shift to the right.
What does the supply-curve law mean?According to the law of supply, if a product's price is greater, more of it will be produced, whereas a product's price is lower, less will be produced. The instruments for enumerating the relationship between supply and pricing are supply curves and supply schedules.
What does supply curve mean?A visual representation in economics of the connection between the price of a good and the amount of it that a seller is prepared and willing to sell. The horizontal axis of the graph represents amount supplied, while the vertical axis represents product price.
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