To determine approximately what percentage of returns were greater than 87 percent, we would need to use the standard normal distribution table and convert the returns to standard deviation units.
The standard normal distribution table gives us the probability of a return falling below a certain value in standard deviation units.
The formula to convert returns to standard deviation units is:
Z = (X - Mean) / Standard deviation
Where X is the return, Mean is the average return, and Standard deviation is the standard deviation of the returns.
So, for returns greater than 87 percent:
Z = (87 - 25) / 31 = 1.77
Using a standard normal distribution table, we can find that the probability of a return falling below 1.77 standard deviation units is approximately 0.0406.
Therefore, approximately 4.06% of returns were greater than 87 percent.
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bolivia produces 100 laptops and 20 cars. germany produces 150 laptops and 50 cars. what country should focus on car production?
While 20 automobiles and 100 laptops are both produced in Bolivia. 150 laptops and 50 vehicles are made in Germany. More automobile production is required in Bolivia.
When nations focus on securing their competitive advantages?Countries with a comparative advantage specialize in producing the items for which they have the lowest opportunity costs, which boosts productivity. For instance, go back to The two nations are A and B.
What kind of nation best exemplifies comparative advantage?Ireland, for instance, benefits from a favorable climate and a big quantity of land suited for dairy cows when it comes to cheese and butter. China has a labor surplus, which gives them a comparative edge in the electronics industry.
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bruce is meeting with his accountant to choose whether his llc is to be taxed as a partnership or a corporation. this advantage of forming an llc is called:
Pass-through taxation
Pass-through taxation: An LLC is a pass-through entity for tax purposes, which means that the profits and losses of the business pass through to the individual tax returns of the members. This avoids double taxation, which occurs when corporations pay taxes on their profits and then shareholders pay taxes on their dividends.
One advantage of forming an LLC (Limited Liability Company) is that it offers flexibility in terms of taxation, allowing the members (owners) to choose whether the LLC will be taxed as a partnership, a corporation, or a sole proprietorship.
This flexibility allows the members to choose the tax structure that best suits their business and personal tax situations, as well as the goals of the business. So the advantage of forming an LLC related to taxation is its flexibility.
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Match the job descriptions to the job titles.
Tiles
lobbyist
public affairs officer
equal opportunity officer
IRS CI special agent
Pairs
works to prevent unlawful discrimination
against employees
helps government build a positive media
image
investigates tax crimes
meets with politicians to influence policy
making
On behalf of a group or person who pays them, professional lobbyists work to influence legislation, regulations, or other governmental decisions, actions, or policies.
What is legislation?Legislation, the process by which municipal, state, or federal legislatures draft and adopt laws.
It is occasionally used to refer to municipal ordinances as well as the rules and regulations issued by administrative bodies while they were performing their designated legislative duties.
Legislation entails participation from the executive branch in addition to action by a legislative body. Unless the executive's veto is overridden by a large enough majority in each house of the legislature, legislation cannot become law without the executive's concurrence.
Additionally, the executive's job requires much more than just consent or opposition. The executive actively participates in the creation of governmental policy as the chief officer of state and a political figure.
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explain why a nation that concentrates solely on exports and never imports anything would have a lower standard of living than a nation that only imported goods and never exported anything.
Nation-states traded with one another before to globalization, but they exhibited a high degree of protectiveness in their dealings.
What is globalization?Globalization is the tying together and integrating of individuals, groups, and nations on a global scale. The term "globalisation" initially appeared in the early 20th century. It began to have a modern connotation sometime in the second half of the 20th century, and in the 1990s it ultimately gained widespread acceptance as a phrase to characterise the unparalleled global interconnectedness of the post-Cold War era. Due to advancements in communication and transportation technologies, its origins can be found in the 18th and 19th centuries. International trade has increased along with the sharing of beliefs, values, and cultural practises as a result of the growth in global connections. The main focus of the globalisation process, which also has social and cultural components, is on economic interaction and integration.
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a. how much do you have to save each month if you can earn an apr of 11.3 percent? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. how much do you have to save each month if you wait 15 years before you begin your deposits? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. how much do you have to save each month if you wait 25 years before you begin your deposits? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
a) The amount to save each month if you can earn an annual return of 11.9 percent is $447
b) The amount to save each month if you wait 15 years before you begin your deposits is $715
c) The amount to save each month if you wait 25 years before you begin your deposits is $1,425
A deposit is a sum of money placed into a savings account or other financial institution.
To become a millionaire by the time you retire in 40 years, you will need to have a plan in place to save and invest your money. Depending on when you start making deposits, the amount you will need to save each month will vary.
A) If you can earn an annual return of 11.9 percent, you will need to save approximately $447 each month in order to reach your goal. This amount will compound over time and grow due to the interest earned.
B) If you wait 15 years before you begin making deposits, the amount you will need to save each month will increase to approximately $715. This is because you will have less time for your money to grow and compound, so you will need to save more each month in order to reach your goal.
C) If you wait 25 years before you begin making deposits, the amount you will need to save each month will increase even further, to approximately $1,425. This is because you will have even less time for your money to grow, so you will need to save even more each month in order to reach your goal.
Complete Question:
You want to be a millionaire when you retire in 40 years.
a) How much do you have to save each month if you can earn an annual return of 11.9 percent?
b) How much do you have to save each month if you wait 15 years before you begin your deposits?
c) How much do you have to save each month if you wait 25 years before you begin your deposits?
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The interest rate a company pays on 1-year, 5-year, and 10-year loans is a partly determined by (A). whether its cash flow from operations as a percentage of global revenues for the past two years is above 15%. (B). its current ratio and prior-year cash flow from operations as a percentage of prior-year global revenues. (C). the length of the term over which repayment is scheduled to occur--the interest rate is lowest for 1-year loans and highest for 10-year loans. (D). its current ratio, its its debt-equity ratio, and whether its cash flow from operations as a percentage of global revenues for the past two years is above 10%. (E). its prior-year market share of global footwear sales and whether the company has been profitable for three consecutive years.
Its credit rating, coupled with the percentage of prior-year investor-expected performance targets the company met or beat.
How interest rate is determined?Interest rates are determined, in large part, by central banks who actively commit to maintaining a target interest rate. They do so by intervening directly in the open market through open market operations (OMO), buying or selling Treasury securities to influence short-term rates.The setup of interest rate in a country is decided by the central banks. In India, it is based on the repo rate, which is the repurchase rate provided by RBI to banks while buying govt securities, on a short-term basis.Interest rate levels are a factor of the supply and demand of credit: an increase in the demand for money or credit will raise interest rates, while a decrease in the demand for credit will decrease themTo learn more about interest rate refers to:
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If you are paid $15 per $100 sold, what is your type of payment? a. commission b. salary c. wage d. pension
If you are paid $15 per $100 sold, what is your type of payment A. Commission.
A buyer agent is a payment made to an employee after they successfully complete a task, typically selling a predetermined volume of merchandise or services. Sales commissions are a common incentive used by employers to boost employee productivity.
A commission can be paid instead of or in addition to a salary. A payment made to a representative or employee in exchange for doing business on their behalf or rendering a service. Particularly: a portion of the funds received from the overall amount paid to it agent in charge of the business.
For each automobile he sells, a commission is given to him. 7.: the act of giving someone authority. Commission Accounting is just an income or expense incurred by the business during the course of a sale.
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if the marginal propensity to save is 0.4 (or 40%) and the government plans to spend $4,000 in the economy, then what will be the change in national income as a whole?
According to the question, $1,600 will be the change in national income as a whole.
What is income?
Income is money that is earned as payment for goods or services, or through investments. It is typically reported on a person's tax return and used to determine the amount of tax owed. Income can come from a variety of sources such as wages, salaries, commissions, tips, bonuses, dividends, royalties, rents, capital gains, and pensions. Income can also come from activities such as part-time or full-time work, self-employment, or business ownership.
The change in national income as a result of the government's spending of $4,000 can be calculated by multiplying the marginal propensity to save (MPS) by the amount of the government's spending. In this case, the MPS is 0.4, and the government is spending $4,000, so the change in national income will be $1,600.
This can be expressed mathematically as:
Change in National Income = MPS x Government Spending
Change in National Income = 0.4 x $4,000
Change in National Income = $1,600
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salary payable at the beginning of the month totals . during the month, salaries of were accrued as expense. if ending salary payable is , what amount of cash did the company pay for salaries during the month?
The amount of salary due at the start of the month is total. Salary expenses accumulated over the month. If the final salary payable is, the corporation paid $14000 in cash for salaries during in the month.
Are owed salaries considered an accumulated expense?Common accumulated expenses owed by businesses include salaries, rent, and interest. In contrast, creditors, such as suppliers for products and services bought on credit, are due money through accounts payable.
What format does the balance sheet use to show retained earnings?Normally, retained earnings can be found in the stockholders' equity portion of a company's balance sheet. The beginning-period earnings are taken, added to the net earnings or loss, and dividend payouts are subtracted to determine retained earnings.
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Which scholar developed the global corporate social responsibility pyramid?
Archie B. Carroll developed the global corporate social responsibility (CSR) pyramid.
The Corporate Social Responsibility can be defined as a management concept where the companies integrate the social and environmental concerns in their business operations and interactions with their stakeholders.
The four types of CSR are-
environmental responsibility, ethical responsibility, philanthropic responsibility andeconomic responsibility.The benefit of CSR are-
It Increases the employee engagement.Better bottom-line financials.It supports for local and global communities.It increases investment opportunities.To know more about CSR refer to-
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taxes and insurance are often prepaid at closing to establish the escrow account. on which page of the closing disclosure form will the buyer see an accounting of the escrow account set up?
The escrow account on accounting will be set up on page two under other costs. So the buyer can see the account on that page.
Other costs on page two of the form are itemized for buyers and sellers. Taxes, prepaid, and initial escrow payment at closing, usually for two months worth that has been paid by the buyer and it will be shown on page two. An escrow account is a legal concept describing a financial agreement whereby an asset or money is held by a third party on behalf of two other parties that are in the process of completing a transaction.Learn more about the closing disclosure form at: https://brainly.com/question/28256555
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3. if we vaporize more of the feed, will this improve or worsen our separation in terms of the product purities?
Vaporizing more of the feed will depend on what type of separation process is being used and what components of the feed are being separated. If vaporizing more of the feed will increase the volatility of the components being separated, it may improve the purities of the final products.
What do you mean by Vaporizing?
Vaporizing is the process of heating a substance to the point where it changes state from a solid or liquid to a gas, without burning it. This is often done with cannabis, where the desired compounds in the plant can be released without the byproducts of combustion. Vaporizing cannabis is viewed as a healthier alternative to smoking, as it does not involve combustion, which is believed to create harmful toxins. Vaporizing is often done with a vaporizer or vape pen, which is a device that heats the substance without reaching the burning point. This allows the user to inhale the vaporized compounds without the harmful smoke or toxins.
So, Vaporizing more of the feed will depend on what type of separation process is being used and what components of the feed are being separated.
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how many bicycles of each type must be sold to earn a target net income of $128,250? assume a constant sales mix.
To find out how many bicycles of each type must be sold to earn a target net income of $128,250, you will need to know the following information:
What is net income ?The cost of each type of bicycle on the market.
the related variable cost (cost of goods sold) for each type of bicycle.
the percentage of each type of bicycle in the overall number of sales, or the sales mix.
Once you know this information, you can use the formulas below to determine how many of each type of bicycle must be sold in order to provide the desired net income:
Determine how many units must be sold in total to generate the desired net income of $128,250. (selling price - variable cost).
Using the sales mix as a guide, calculate the quantity of each type of bicycle that will be sold. For instance, 60% of the total units will be sold if the sales mix is 40% for Type B and 60% for Type A.
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which of the following examples illustrates the law of demand? a) an increase in tuition encourages more students to enroll in college because the quality of b) consumers buy more personal computers because prices have fallen. c) oil companies drill for new sources of oil because oil prices are higher. d) fewer people play golf because incomes are lower.
Option b is correct. An example of the Law of Demand is that consumers buy more PCs because prices have dropped.
In conjunction with the law of supply, it explains how the market economy allocates resources and determines the prices of goods and services observed in day-to-day transactions.
This happens because marginal utility decreases. In other words, consumers use the first unit of the first purchased item to meet their most urgent needs, and then use each additional unit of that item to sequentially address lower-value purposes.
The law of demand is a basic principle of economics that the higher the price, the less the quantity of a good that consumers want.
Demand stems from the law of diminishing marginal utility, the fact that consumers use their assets to meet their most pressing needs.
The market demand curve represents the total quantity demanded at any given price by all consumers in the market. Changes in price are reflected in movement along the demand curve, but they do not, by themselves, increase or decrease demand.
The shape and magnitude of demand change in response to changes in consumer preferences, income, or related goods, rather than changes in prices.
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rao construction recently reported $30.00 million of sales, $12.60 million of operating costs other than depreciation, and $3.00 million of depreciation. it had $8.50 million of bonds outstanding that carry a 7.0% interest rate, and its federal-plus-state income tax rate was 25%. what was rao's operating income, or ebit, in millions? a. $14.54 b. $16.56 c. $11.09 d. $16.70 e. $14.40
The answer is: EBIT = $14.40 million, which is option (e).
Rao Construction recently reported $30 million in sales, $12.60 million in operating costs (excluding depreciation) and $3 million in depreciation. To calculate its operating income or EBIT, we need to subtract these expenses from its sales.
EBIT = Sales - (Operating Costs + Depreciation)
= $30 million - ($12.60 million + $3 million)
= $14.40 million.
This means that Rao Construction earned $14.40 million before considering interest expenses and income taxes. The company had $8.50 million in bonds outstanding carrying a 7% interest rate, and its federal and state income tax rate was 25%.
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when it is liquidated, a business has assets of $500 cash, $800 of liabilities and $400 common stock and ($700) deficit in retained earnings. based on this information: multiple select question. owners will receive zero. owners will receive $400.
A business has assets of $500 cash, $800 of liabilities and $400 common stock and ($700) deficit in retained earnings;Owners will receive $400.
What is the stock ?Stock, also known as equities or shares, are units of ownership in a company that represent a claim on the company's assets and earnings. Stock holders are entitled to a portion of the company's profits, as well as voting rights at shareholder meetings. Owning stock also means that you are taking on a certain amount of risk, since the value of the stock can fluctuate and the company could potentially go bankrupt. Investing in stocks can be a good way to diversify a portfolio and potentially generate higher returns than other investment vehicles.
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marco owns a shoe store. he recently got an exclusive pair of shoes that he decides to sell for $300 when all other vendors are selling them for $250. marco is surprised when nobody comes to buy the shoes from him. what situation has marco created?
Monopolistic competition is a market model in which many companies sell different products (with different quality, brands, styles, and reputations) to compete with each other.
The goods and services they offer to their customers are similar but not equivalent. This market model is a form of imperfect competition and is considered inefficient due to distribution costs, overcapacity, lack of specialization and unemployment. It is worth noting that companies operating in such market systems often spend a lot of money on advertising.
This step is not critical as it increases the price of the product or service and causes the business to lose prospects and customers. Despite their size, companies often underutilize their production capacity and therefore underutilize their resources. This leads to unemployment as workers have nothing to do.
As mass production is a complex process, firms cannot fully utilize fixed factors and firms have overcapacity. Both in the long term and the short term, these companies demonstrate productive inefficiency. With that out of the way, let's move on to the characteristics of monopolistic competition.
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a straight-line production possibilities frontier (ppf) illustrates opportunity costs. a production possibilities frontier is bowed outward. this is illustrative of opportunity costs. a. constant, decreasing b. decreasing, constant c. constant, increasing d. increasing, constant
A straight-line production possibilities frontier (ppf) illustrates opportunity costs. a production possibilities frontier is bowed outward. this is illustrative of opportunity costs. a. constant,
What is production possibilities 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.
PPF is important in economics as well. For instance, it might show that a country's economy has achieved the maximum degree of effectiveness.
The PPF illustrates that a rise in one commodity's production can only occur when the output of the other commodity falls.
Managers may use the PPF as a tool for making decisions when determining the best product mix for their organization.
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according to the principle of diminishing returns, if all factors of production but one are held constant and if that one factor is doubled, then eventually output will most likely
According to the principle of diminishing returns, if all factors of production but one are held constant and if that one factor is doubled, then eventually output will most likely less than double.
What are diminishing returns?
When the amount of a single production element is incrementally increased while maintaining the same level of all other production factors, this phenomenon is known as diminishing returns in economics (ceteris paribus). The law of decreasing returns, commonly referred to as the law of diminishing marginal productivity, holds that when a production factor is increased by one unit while keeping all other production factors constant, the output per additional unit of input eventually decreases. Distinguishing returns cause productivity and efficiency to decline while output remains positive.
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what is the difference in cost between a 10% tolerance and a 1% tolerance resistor? where did you find that information?
The cost difference between a 10% tolerance resistor and a 1% tolerance resistor can vary greatly depending on the manufacturer, the resistor's specifications, and the quantity being purchased.
A 10% tolerance resistor and a 1% tolerance resistor refer to the acceptable level of deviation from the stated resistance value. A 10% tolerance means that the actual resistance can be 10% higher or 10% lower than the stated value, while a 1% tolerance means that the deviation is only 1%. The cost difference between these two types of resistors is largely due to the increased precision and tighter manufacturing tolerances required to produce a 1% tolerance resistor. Higher precision manufacturing processes and stricter quality control checks increase the cost of production, leading to higher prices for the end product. In general, 1% tolerance resistors are used in high-precision circuits and applications where small deviations in resistance can have significant effects on the performance of the circuit. On the other hand, 10% tolerance resistors are typically used in circuits where a small tolerance is not critical, and cost is a major concern. To find the exact cost difference between a 10% tolerance resistor and a 1% tolerance resistor, it is best to check the prices of specific resistors from various manufacturers or electronics distributors. The prices can vary greatly depending on the specific specifications of the resistor and the quantity being purchased.
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which one of the essential managerial tasks are managers performing when they articulate a clear vision and energize members to achieve organizational goals?
"Leading is one of the essential manage-rial tasks are managers performing when they articulate a clear vision and ener-gize members to achieve organizational goals".
Leading involves the social and informal sources of influence that you use to inspire action taken by others. If managers are effective leaders, their subordinates will be enthusiastic about exerting effort to attain organizational objectives.
What are organizational goals?Organizational goals are strategic objectives that a firm's management establishes to out-line expected out-comes and guide employees' efforts. Goals are the de-sired out-comes of the busi-ness's activities. Organ-izational goals are gene-ral targets that executives set for the comp-any.
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which of the following best describes what title ii of hipaa, known as administration and simplification, addresses? a. electronic standards for health care transactions and the code sets that can be used. b. the kennedy-kassebaum law. c. portability of health insurance for unemployed individuals. d. all of the above.
The following option that described the title II of HIPAA is A. Electronic standards for healthcare transactions and the code sets that can be used.
In the term of business, The Health Insurance Portability and Accountability Act of 1996 or also known as HIPAA generally can be defined as a United States Act of Congress enacted by the 104th United States Congress. The Health Insurance Portability and Accountability Act of 1996 or also known as HIPAA signed into law by President Bill Clinton on August 21, 1996. As an organization in the health insurance, HIPAA has a function to protect sensitive patient health information from being disclosed without the patient's consent or knowledge.
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what will happen to the equilibrium price of new textbooks if more students attend college, paper becomes cheaper, textbook authors accept lower royalties, and fewer used textbooks are sold? a. price will rise. b. price will fall. c. the price change will be ambiguous. d. price will stay exactly the same.
Option (d), If authors consent to accept lower royalties, supply will increase at a lower cost since production costs would decrease. If fewer used textbooks are sold, there will be a greater need for new ones. If demand and supply increase proportionately, the equilibrium price will not change.
What equilibrium pricing meansThe cost to the consumer for an item or service at the point where supply and demand are equal or nearly equal is known as the market-clearing price, also known as the equilibrium price. Both the manufacturer or the vendor are allowed to transfer as many units as they want, and the consumer is free to access as many units as they want.
Given that buyers and sellers are both prepared to buy the same quantity, there is neither a shortage nor an excess of the good at the equilibrium price. Both buyers and sellers have the option to acquire and sell at the market price the quantity they desire.
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what amount of cost of goods sold should the company report in its 2021 financial statements? enter as a positive number.
The total of all direct costs incurred in producing a good constitutes the cost of goods sold (COGS).
It shows on an income statement and usually consists of money spent on labor and raw supplies. It excludes all expenses related to marketing, sales, or distribution.
After sales revenue, COGS is frequently the second line item on the income statement. To calculate gross profit, revenue is subtracted from COGS. The expenses incurred by the company in producing the products or rendering the services it offers are included in the cost of goods sold.
One of the most important financial reports in accounting, an organization's revenue statement, includes the cost of products sold. An income statement, such as a, lists the income for a specific accounting period.
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the main objective of the iasb is to: multiple choice set accounting standards for all european union countries. develop a single set of global accounting standards.
The creation of a (B) unified set of global accounting standards is the main objective of the International Accounting Standards Board (IASB).
What is International Accounting Standards Board?The independent accounting standard-setting body of the IFRS Foundation is called the International Accounting Standards Board (IASB).
On April 1, 2001, the IASB was established to replace the International Accounting Standards Committee (IASC).
International Financial Reporting Standards (IFRS) development and usage promotion fall under its purview.
The International Accounting Standards Board's (IASB) primary goal is to create a single set of international accounting standards.
73, the International Accounting Standards Committee (IASC) has produced a number of standards referred to as International Accounting Standards (IAS).
Therefore, the creation of a (B) unified set of global accounting standards is the main objective of the International Accounting Standards Board (IASB).
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Complete question:
The main objective of the iasb is to: multiple choice
a. set accounting standards for all European Union countries.
b. develop a single set of global accounting standards.
janet, a new employee at nalpot inc., expects employers to utilize social media platforms as the primary communication method. janet most likely belongs to a group of workers called .
Janet, a new employee at Nalpot inc., expects employers to utilize social media platforms as the primary communication method. Janet most likely belongs to a group of workers called Generation Z.
The characteristics shown here are of Generation z (GenZ) workers who are well-versed in technological applications and are likely to promote it at the workplace.
As it's older members transition into young adulthood, Gen Z has become a population that is deserving of attention more and more. One-tenth of the 2020 electorate was made up of Gen-Zers, who were born after 1995.
While they share some traits with Millenials, their formative years were shaped by a dramatically different world, leading to significant differences in their attitudes, tendencies, and outlook.
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which of the following is one of the five major characteristics of good mission statements? group of answer choices they define the major markets that the company aims to serve. they take a short-term view. they expand the range of individual employee discretion. they focus on a large number of goals. they are long and comprehensive to ensure that all critical concepts are included.
"One of the 5 major characteristics of good mission statements is that they define the major markets that the comp-any aims to serve."
What is a mission statement?A mission statement is an action-oriented statement announcing the purpose an organization serves to its people. It often involves a general description of the organization, its features, and its objectives.
What makes a good mission statement?The best brands combi-ne physical, emotional, and logical elements into one except-ional customer experience that you value as much as th-ey do. A good mission statement will not only ex-plain your brand’s purpose, but will also foster a connect-ion with customers.
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when xyz telecom, a long-distance telephone service provider, offered reduced rate on weekends, its volume of weekend calling increased sharply. determine if the situation represents:
Situation: XYZ Telecom offered reduced rate on weekends and experienced a sharp increase in weekend calling.
How to represent the situation of the xyz telecom?Representation: This situation represents a positive correlation between the price of a product and the demand for it.Economic Principle: The situation aligns with the law of demand, which states that as the price of a product decreases, the demand for it increases (ceteris paribus).Explanation: The reduced rate offered by XYZ Telecom on weekends made it more affordable for customers to make long-distance calls. As a result, more people started making calls on weekends, leading to an increase in volume.Implication: This situation is beneficial for XYZ Telecom as it has the potential to increase their revenue. Customers are more likely to choose the service when the price is lower, which could result in higher customer satisfaction and loyalty.Conclusion: The increase in weekend calling due to the reduced rate offered by XYZ Telecom demonstrates the impact of pricing on consumer behavior. By adjusting the price, companies can influence the demand for their products and services.To learn more about telecom refer:
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routine meeting management, reports to company executives, training seminars within the company, or public-relations speeches to people outside the company are all examples of .
routine meeting management, reports to company executives, training seminars within the company, or public-relations speeches to people outside the company are all examples of workplace public speaking.
What is workplace public speaking?Speaking in front of an audience enables us to promote issues and hone our persuasion abilities. Additionally, speech preparation increases our vocabulary and expertise. All of this improves our capacity for teamwork, self-assurance, and personal fulfilment at work.
Effective public speaking is considered a leadership quality. You may communicate your thoughts and goals to your team more effectively by speaking in front of an audience. They will regard you as a thinking leader as well as a leader, which will push them to adopt new behaviours and take into account your fresh perspectives.
Thus, workplace public speaking.
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Following are two income statements for Alexis Co. for the year ended December 31. The left column is prepared before any adjusting entries are recorded, and the right column includes the effects of adjusting entries. The company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts.ALEXIS CO.Income StatementsFor Year Ended December 31Unadjusted AdjustedRevenuesFees earned $ 18,000 $25,000Commissions earned 36,500 36,500Total revenues $ 54,500 61,500ExpensesDepreciation expense—Computers 0 1,600Depreciation expense—Office furniture 0 1,850Salaries expense 13,500 15,750Insurance expense 0 1,400Rent expense 3,800 3,800Office supplies expense 0 580Advertising expense 2,500 2,500Utilities expense 1,245 1,335Total expenses 21,045 28,815Net income $ 33,455 $ 32,685Analyze the statements and prepare the eight adjusting entries that likely were recorded. (Note: 30% of the $7,000 adjustment for Fees Earned has been earned but not billed, and the other 70% has been earned by performing services that were paid for in advance.)Dec 31Accounts receivable DR 2,100Fees earned CR 2,100Dec 31Unearned fees DR 4,900Fees earned CR 4,900Dec 31Depreciation Expense-Computers DR 1,600Accumulated depreciated-Computers CR 1,600Dec 31Depreciation Expense-Office furniture DR 1,850Accumulated depreciation-Office furniture CR 1,850Dec 31Salaries expense DR 2,250Salaries payable CR 2,250Dec 31Insurance expense DR 1,400Prepaid insurance CR 1,400Dec 31Office supplies expense DR 580Office supplies CR 580Dec 31Utilities expense DR 90Utilities payable CR 90
Adjusting entries are entries made in a company's accounting records at the end of an accounting period to correct or update financial statements. Adjusting entries typically address changes in the company's assets, liabilities, and equity accounts, as well as recognition of revenues and expenses that have not yet been recorded.
What informs the adjusting entries records?The eight adjusting entries recorded likely include:
1. Recognition of unearned fees as earned revenue:
Accounts Receivable DR 2,100
Fees earned CR 2,100
2. Recognition of earned revenue from prepaid fees:
Unearned fees DR 4,900
Fees earned CR 4,900
3. Depreciation expense recognition for computers:
Depreciation Expense-Computers DR 1,600
Accumulated depreciated-Computers CR 1,600
4. Depreciation expense recognition for office furniture:
Depreciation Expense-Office furniture DR 1,850
Accumulated depreciation-Office furniture CR 1,850
5. Recognition of salaries expense:
Salaries expense DR 2,250
Salaries payable CR 2,250
6. Recognition of insurance expense:
Insurance expense DR 1,400
Prepaid insurance CR 1,400
7. Recognition of office supplies expense:
Office supplies expense DR 580
Office supplies CR 580
8. Recognition of utilities expense:
Utilities expense DR 90
Utilities payable CR 90
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