Based on the nature of the transaction described above, the account that would be credited is Revenue
Revenue is the amount that is received when a person or company sells a good or service.
By selling the pastries, Carlo jus earned some revenue. This revenue should therefore be posted to the revenue account. When revenue increases - as it just did - it is credited.
In conclusion, Carlo should credit the Revenue account.
Find out more about revenue at https://brainly.com/question/16232387.
Which of the following is true of the kinked demand model of​ oligopoly?
A. Each firm believes that if it lowers its price the other firms will follow​ suit, but if it raises its price the other firms will not raise their prices.
B. Each​ firm's marginal revenue curve is discontinuous at its current level of output.
C. The model predicts price rigidity. For​ example, the firms may not change their prices when marginal costs change.
D. All of the above are true.
Answer: D
Explanation:
Use the following information of VPI Co. to prepare a statement of cash flows for the year ended December 31 using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
Gain on sale of machinery $42,400
Cash received from sale of machinery 7,400
Increase in accounts payable 6,400
Net income 10,400
Decrease in accounts receivable $ 2,600
Cash balance at prior year-end Increase in inventory 3,400
Depreciation expense 10,700
Cash received from issuing stock 2,700
Cash paid for dividends 5,400
VPI CO.
Statement of Cash Flows (Indirect Method)
For Current Year Ended December 31
Cash flows from operating activities
Adjustments to reconcile net income to net cash provided by operating activities
Income statement items not affecting cash
Changes in current operating assets and liabilities
Cash flows from investing activities
Cash flows from financing activities
god help you with this homework
On January 1, Year 1, Hardy Company had a balance of $116,500 in its Common Stock account. During Year 1, Hardy paid $38,000 to purchase treasury stock. Treasury stock is accounted for using the cost method. The balance in the Common Stock account on December 31, Year 1, was $147,500. Assume that the common stock is no par stock. Required a. Determine the cash inflow from the issue of common stock. b. Prepare the financing activities section of the Year 1 statement of cash flows. (Amounts to be deducted should be indicated with a minus sign.)
Answer:
Basically the answer you just have to use points and haul and you just get the one that you think is the best for highlighting and then you just get the Basically the answer you just have to use points and whole and you just get the one that you think is the best for highlighting and then you just get that and then You do points and whole
Explanation:
P/w
Bebe Co is a small company that manufactures and sells high-quality.blouses. Its customers are mainly fashion boutiques.
Bebe Co has two directors, one of who is non-executive. The other is involved in the day-to-day administration of the company. There are ten other employees. Six of these work in the factory, one works in the warehouse, one is a sales representative and two are accounts staff. The accounts staff consist of Miss Ines, who is responsible for processing sales and receivables, and Mrs. Evie, who is the purchases and wages clerk. Mrs. Evie works part-time, five mornings a week. The company's sales representative visits shops throughout the region. He takes orders from customers which he records on a pre-numbered two-part order form. He passes the completed forms to the accounts department. Miss Ines files one copy of the order form in numerical sequence and passes the other to the warehouse.
The completed order is dispatched from the warehouse by the carrier, accompanied by one copy of a dispatch note. The other copy is sent to Miss Ines, who prepares an invoice based on the information it contains and on the company's price list. She sends one copy of the invoice to the customer, and a second copy of the invoice is retained
Each Friday, Miss Ines inputs the week's invoices to the computerized sales ledger. She then files the invoices alphabetically by customer name. Dispatch notes are not retained because filing space is limited. Miss Ines opens the post daily and lists remittances received from credit customers. Every Friday, she inputs the information listed to the sales ledger. Cheques received are banked daily by the executive director.
Miss Ines reviews the sales ledger balances every month and writes to customers who have not paid within 90 days of receiving goods. The sales ledger is printed out annually for year-end purposes. Otherwise, no hard copy is printed, and Miss Ines reviews the sales ledger on the computer screen. The company's computer package includes the facility to produce a sales day book and sales ledger control account. These are not used because Miss Ines considers that the low volume of transactions (10-15 invoices per week) makes them unnecessary.
Requirements
a) Explain the particular issues relating to controls which would affect the audit of a small company such as Knits.
b) List six control objectives of a sales system.
c) State, with reasons, what you consider to be the potential deficiencies in Ecovacs’s present system of accounting for sales and receivables.
d) List and explain the controls that a small firm such as Ecovacs could feasibly adopt to overcome the deficiencies you have identified.
It should be noted that some of the issues that relate to controls that could affect the audit of a small company include the separation of duties, documentation, etc.
Some of the problems that van lap be faced during the audit include the failure to exercise professional care and the deficiency in confirming account receivables.
The control objectives of a sales system include:
Efficiently executing customers' orders. Raising sales invoices promptly.Revising sales policy.Implementing steps for improving productivity.Increasing sales profitability.Invoicing all goods and services.It should be noted that the deficiencies in the system of accounting include the determination of the face value of the receivables and the length of time the receivable will be outstanding.
Lastly, to avoid the problem above, consideration should be given to the integrity of the firm, and the financial soundness of the company.
Learn more about audit on:
https://brainly.com/question/25259957
what is organization?
Answer:
An Organization or Organisation is entity such as a company, An institution or an association, Comprising one or more people and having a particular purpose. The word is derived from the a Greek word Organon, Which means tool or instrument, Musical instrument and organ....
...............................Draft an inquiry letter for purchase of 10 units of IBM P4 computers and 2 units of Lx 300 Epson printers to Kathmandu Computers and Engineering Kathmandu.
Based on writing standards, the inquiry letter for purchase should begin with the sender's address and be written like a formal letter.
Structures of Letter of Inquiry.The sender's address should be written at the beginning of the letter, followed by the receiver's address.The letter must contain all the elements of the enquiring item, including their quantities.There must be the date and address of the receiver included.The letter's subject must be written clearly before the letter's content.Ensure you provide the expected salutation at the beginning of the letter.Write clearly and straightforward.Provide reasons and inquiry descriptions.Add your signature, name, and designation at the end of the letter.Hence, in this case, it is concluded that there are specific ways to write a good inquiry letter.
Learn more about Inquiry Letter here: https://brainly.com/question/4208084
Which of the following is not a type of trademark? fanciful arbitrary simple suggestive
Considering the available options, the choice that is not a type of trademark is "Simple."
What is a Trademark?Trademark is the term used to describe the word, phrase, design or symbol, or combination thereof.
Generally, the purpose of a Trademark is to create the identity for the source of the commodities such that these commodities can be easily differentiated from similar commodities.
Different types of TrademarksThere are four major categories of Trademarks which include the following:
Coined or Fanciful trademarkArbitrary trademarkSuggestive trademarkDescriptive trademarkHence, in this case, it is concluded that the correct answer is "Simple."
Learn more about Trademarks here: https://brainly.com/question/11957410
Answer:
The answer is B
Explanation:
got it right on edge 2022
During the current year, merchandise is sold for $21,100 cash and $341,700 on account. The cost of the merchandise sold is $217,200. What is the amount of the gross profit
Answer:
$235,900
Explanation:
i hope she is your answer
The gross profit is $145,600. A company's gross profit is equal to its total sales less its total cost of products sold. Total sales include all goods sold by the company.
What are COGS?The total amount your company paid as a cost directly tied to the selling of products is known as the cost of goods sold. Depending on your industry, this could include resale products, raw materials, packaging, and direct labor associated with making or selling the product.
Given
Cash Sale = $21,100
Credit Sale = $341,700
COGS = $217,200
Required to Calculate the amount of the Gross Profit =?
Gross Profit = Sales - COGS
Gross Profit = 341,700 + 21,100 - 217,200 = $145,600.
Thus, the gross profit is $145,600. On the surface, a gross profit margin ratio of 50 to 70% appears to be healthy, and it is for many types of businesses, including retailers, restaurants, manufacturers, and other goods makers.
Learn more about Gross Profit here:
https://brainly.com/question/18567528
#SPJ2
A problem statement in an analytical report is most effective when it is ________.
subtly introduced in the body of the report
written in a friendly tone
unambiguous and precisely defined
lengthy with detailed background and explanations
Answer:
subtly introduced in the body of the report
Explanation:
I hope it helps to you:-)
The most effective way to introduce a problem statement in an analytical report is in the report's body. Thus option (A) is correct.
What is the statement?Statements are sentences that express a fact, idea, or opinion. Statements do not ask questions, make requests or give commands. They are also not utterances. Statements are sentences that express a fact, idea, or opinion. Statements do not ask questions, make requests or give speech acts. They are also not exclamations.
A problem statement, in its most basic form, identifies the issue or impact you seek to address through your work. This assertion must be precise, short, and identify a quantifiable result. In research, a problem statement is a description of the problem that needs to be investigated. What issue is the research trying to solve
Therefore, Thus option (A) is correct
Learn more about the statement here:
https://brainly.com/question/2285414
#SPJ2
what is marketing planing
Answer:
The marketing plan details the strategy that a company will use to market its products to customers. The plan identifies the target market, the value proposition of the brand or the product, the campaigns to be initiated, and the metrics to be used to assess the effectiveness of marketing initiatives.
Answer:
Marketing planning is a part of a design to achieve a goal. The marketing plan contains an action plan (who does, what and when) and a vision, strategic objectives, goals, and objectives
Define option price. Explain why the option price of a policy might differ from the expected surplus generated by the policy.
Explanation:
Options prices, known as premiums, are composed of the sum of its intrinsic and time value. Intrinsic value is the price difference between the current stock price and the strike price. An option's time value or extrinsic value of an option is the amount of premium above its intrinsic value.
Evaluating debt burden. Ted Phillips has a monthly take-home pay of $1,685; he makes payments of $410 a
month on his outstanding consumer credit (excluding the mortgage on his home). How would you
characterize Isaac's debt burden? What if his take-home pay were $850 a month and he had monthly credit
payments of $150?
According to the the question, the debt safety ratio is 24.33% on the payment of $410 where on the payment of $150 the debt safety ratio is 17.65%.
What do you mean by the debt safety ratio?While your debt safety ratio measures your monthly consumer debt payments to your monthly take-home pay, your debt service ratio compares your total monthly loan payments to your gross monthly income.
This ratio primarily considers debt commitments, such as your mortgage, instalment, and personal responsibilities, that will not be paid off by the minimum needed payments within the next 10 months, and ignores current liabilities.
Debt safety ratio = Total monthly credit payment / monthly take home pay.
Therefore,
On the monthly credit payment = $ 410
Monthly take payment = $ 1685
Debt safety ratio = 410 / 1685 = 0.2433 = 24.33%.
Here,
On the monthly credit payment = $ 150
Monthly take payment = $ 850
Debt safety ratio = 150 / 850 = 0.1765 = 17.65%.
To learn more about the debt safety ratio, visit:
https://brainly.com/question/28826100
#SPJ2
In 2012, XYZ Inc., a medical equipment distributor, sold 10,000 units of its hospital beds at an average price of $500 per unit. The company reported estimated returns and allowances of $200,000. The company purchased 11,000 units of its product from its manufacturer in 2012 at an average cost of $350 per unit. XYZ began 2012 with 1,000 units of its product in inventory (carried at an average cost of $300 per unit). Operating expenses (excluding depreciation) in 2012 were $400,000, and the depreciation expense was $100,000. XYZ had $2,000,000 in debt outstanding throughout all of 2012, which carried an average interest rate of 10%. The company’s tax rate is 40%. Its fiscal year runs from January 1 through December 31. Given this information, prepare the following documents: a. XYZ’s 2012 income statement b. XYZ’s 2012 ending inventory balance (both in unit and in dollar terms)
a. The preparation of XYZ's Income Statement for the year ended December 31, 2012 is as follows:
Net sales revenue $4,800,000
Cost of goods sold 3,450,000
Gross profit $1,350,000
Operating expenses 400,000
Depreciation expense 100,000 500,000
Operating income $850,000
Interest Expense 200,000
Income before taxes $650,000
Taxes (40% x $650,000) 260,000
Net income $390,000
b. The ending inventory balance of XYZ's 2012 is as follows:
Units = (Beginning inventory + Purchases - Sales)
= 2,000 beds (1,000 + 11,000 - 10,000)
Dollars = $700,000 (2,000 x $350).
Data and Calculations:
Units of beds sold = 10,000
Average price per unit = $500
Sales revenue = $5,000,000
Estimated returns and allowances = $200,000
The Net sales revenue is $4,800,000 ($5,000,000 - $200,000).
The Cost of goods sold is $3,450,000 (9,000 x $350 + 1,000 x $300).
The Ending inventory is $700,000 (2,000 units x $350).
Operating expenses = $400,000
Depreciation expense = $100,000
Interest expense = $200,000 ($2,000,000 x 10%)
Tax rate = 40%
Thus, the ending inventory balance of XYZ's 2012 is 2,000 beds, worth $700,000.
Learn more about preparing income statement here: https://brainly.com/question/24470417
Kline Construction is an all-equity firm that has projected perpetual earnings before interest and taxes of $628,000. The current cost of equity is 17.6 percent and the tax rate is 35 percent. The company is in the process of issuing $4.3 million of 8.3 percent annual coupon bonds at par. What is the levered value of the firm?
Based on the information given the levered value of the firm is $3,824,318.
First step is to calculate the Unlevered firm value
Unlevered firm value = EBIT(1 - Tax) / Cost of equity
Unlevered firm value= $628,000 x (1-.35)/.176
Unlevered firm value= $628,000 x (1-.35)/.176
Unlevered firm value = $628.000×.65/.176
Unlevered firm value = $2,319,318
Second step is to calculate Levered firm value
Levered firm value = Unlevered firm value + (Tax rate× Debt))
Levered firm value= $2,319,318 + (.35 x $4,300,000)
Levered firm value= $2,319,318 +$1,505,000
Levered firm value = $3,824,318
Inconclusion the levered value of the firm is $3,824,318.
Learn more about levered value here:https://brainly.com/question/20067496
Compare and contrast the strategic planning process in public and non-profit organisations.
A public organization is one which focus on services to the public including public authority, state agency etc
A non-profit organization is one which focuses on a social cause (like religion, research, education) and not driven by profit.
In comparison, both the public and non-profit organisations uses the strategic plan to establish goals as well as to review operations.In contrast, the strategic planning in public and non-profit organisations is different because public organization is guided by government directives whereas the non-profit organization is guided by their mission and purpose.Read more about organization
brainly.com/question/19334871
Bondholders tend to offset the effects of selfish strategies implemented by shareholders by: Multiple Choice increasing the interest rate on monies loaned to the firm. agreeing to reduce the interest rate on existing loans. restructuring their loans to provide additional time to the firm to make repayment. agreeing to reduce the outstanding principal balances on their loans. subordinating their bankruptcy position to the shareholders.
It should be noted that bondholders offset the effects of selfish strategies that are implemented by shareholders by A. increasing the interest rate on monies loaned to the firm.
A bondholder simply means an individual that's owning a bond that was issued by the government or a public company.
The effects of selfish strategies that are implemented by shareholders are offset by increasing the interest rate on monies loaned to the firm.
Learn more about bonds on:
https://brainly.com/question/25524725
WILL GIVE BRAINLIEST
Refer to Figure 33-2. If the economy starts at O and moves to R in the short run, the economy
a) moves to O in the long run
b) moves to P in the long run
c) moves to Q in the long run
d) moves to R in the long run
Answer:
c c c c c c c c. give brainliest to guy above
Explanation:
If the economy starts at O and moves to R in the short run, the economy moves to Q in the long run. Thus the correct option is C.
What is the Economy?The economy of any country is determined by the ratio of production and consumption that takes place within a year and evaluates the flow of funds in the market by analyzing the purchasing parity of an individual.
The strongest and worst results for an economy are reflected in changes in SRAS. Decreased prices, lower unemployment, and more productivity result from an increase in SRAS.
We get more of what we dislike most as SRAS declines, such as fewer items, greater unemployment, and higher costs. Since the economy has moved from the R to the Q point and AD has fallen from AD1 to AD2 denotes the movement in the short run.
Therefore, option C is appropriate.
Learn more about the Economy, here:
https://brainly.com/question/2421251
#SPJ2
yared plc assembles and sells bicycles in bahir dar city. the company expects to sale 400 bicycles for br. 600 each in 2015. the total variable and fixed costs for there sales are br. 160,000 and 50,000 respective.
Required
a. how many bicycle should be sold for yared plc to each their breakeven point?
b. how many bicycle must be sold to earn a target operating in come of br. 90,000?
c. what amount of sales must yared plc have to earn a target net income of br. 63,000 they have a tax rate of 30 percent?
a. The number of units to be sold for Yared Plc to break-even is 250 units.
b. The number of units to be sold to earn a target operating income of br. 90,000 is 700 units.
c. The sales amount for Yared Plc to earn a target net income of br. 63,000 is 700 units.
Data and Calculations:
Sales units of bicycles = 400 units
Selling price per unit = br. 600
Total variable costs = br. 160,000
Unit variable cost = br. 400 (br. 160,000/400)
Contribution margin per unit = br. 200 (br. 600 - br. 400)
Fixed costs = br. 50,000
Tax rate = 30%
Net income = income after tax
= 1 - 30%
= 70%
a. The number of units to be sold for Yared Plc to break-even is given by Fixed Costs/Contribution margin per unit
= br. 50,000/br. 200
= 250 units.
b. The number of units to be sold to earn a target operating income of br. 90,000 is given as (Fixed Costs + Target Profit)/Contribution margin per unit
= (br. 50,000 + br. 90,000)/br. 200
= br. 140,000/br. 200
= 700 units.
c. The sales amount for Yared Plc to earn a target net income of br. 63,000 is (br. 50,000 + br. 63,000/(1 - 30%)/br. 200
= (br. 50,000 + br. 90,000)/br. 200
= br. 140,000/br. 200
= 700 units.
Learn more about contribution margin and target profit here: https://brainly.com/question/25638811
Two groups have different uses for a local field. A bird watching society enjoys studying the ground-nesting swallows that visit each summer. A mountain bike camp prefers to use the field to build jumps and hold other events and receives a benefit of $1,000 from using the field. When it does, the activities scare away the birds and the bird-watching society faces a wealth reduction of $700. What is the optimal use of the field during the summers
The optimal use of the field during summer season is to provide the field to the bird watching society.
The optimal use of the field during summer season is to avoid the mountain bike camp and allow the bird watching society to enjoys studying the ground nesting swallows that visit each summer because bike camp can be planned at any other location.
But the birds can't nested except this place so the field should allow the bird watching society to enjoys studying the ground nesting swallows on the field so we can conclude that the optimal use of the field during summer season is to provide the field to the bird watching society.
Learn more about field here: https://brainly.com/question/7227990
Learn more: https://brainly.com/question/26053891
Explain why the government might prefer to provide incentives to private firms to do investment or research and development, rather than simply doing the spending itself?
Answer:
One explaination I have heard is that governments are organized for stability and order, which is good, but what they're not good at is creativity and efficiency. The private sector is better at innovation and speed of execuation.
Explanation:
This is only one possible answer of many. I would not consider this answer to be complete.
If a monopolist's production process has economies of scale and average cost exceeds marginal cost, then _____.
If a monopolist's production process has economies of scale and average cost exceeds marginal cost, then the government should make the price equal to the marginal cost.
Monopolies are businesses that are dominated by few people in the industry. They have little competition from others and have high barriers to entry.
They can sometimes reduce production to increase the price of their goods and services.
The government can regulate the activities of monopolies by making their price equal to the marginal cost.
Learn more about monopolies here:
https://brainly.com/question/13113415
True or False: Anything less than a full bottle shouldn't be considered in inventory at all.
Answer:
false and not true
Explanation:
Anything less than a full bottle should be considered in the inventory. Thus, the given statement is false.
What is inventory par level?Using the Periodic Automatic Replacement (PAR) inventory control system, you may determine the amount of inventory you need to keep on hand to meet demand. The ideal inventory stock to have on hand following each order delivery is determined by the PAR level.
The usual quantity of an ingredient you anticipate having on your shelves at any given moment is known as an inventory par level. It's straightforward: If you ordered 5 jars of mayonnaise but only have 2, you know you need to get 3 more.
While receiving your inventory, check your system's inventory price again, For bookkeeping, code your invoices. Any outdated prices in your system should be changed, Add the delivered goods to your order history.
Therefore, the given statement is false.
Learn more about the inventory par level, here:
https://brainly.com/question/28340947
#SPJ2
Hep help please straightforward answer please thanks thanks
Answer:
C
Explanation:
Which of the following is classified as
M22
A large certificates of deposit
B gold and silver
C money market accounts
Suppose the cross-price elasticity of travelling by bus and travelling by train is 0.7. If the price of traveling by bus increases by 40%, how much would the quantity of traveling by train change
The quantity of traveling by train would change by 28%.
Cross-price elasticity measures how the quantity demanded of a good is affected by changes in the price of another good.
Cross price elasticity = percentage change in the quantity demanded of good A / percentage change in the price of good B.
0.7 = percentage change in the quantity of traveling by train / 40%
Percentage change in the quantity of traveling by train = 40 x 0.7 = 28%
To learn more about cross price elasticity, please check: https://brainly.com/question/26035503
Help help businesses please please
Answer:
C
Explanation:
LRAS would shift left because there would be fewer workers available to produce goods at any given price. however sras is capable of shift left and right.
hope this helps <3
If the reserve requirement is 25%, a new deposit of $1,000 leads to a potential increase in the money supply of
Based on the information given regarding the reserve requirements, there'll be an increase in the money supply by $4000.
A reserve requirement simply means a regulation by the Central Bank where commercial banks set a minimum amount that must be held in liquid assets.
Since the reserve requirement is 25%, a new deposit of $1,000 leads to a potential will lead to an increase in the money supply of $4000. This was calculated thus:
= $1000 / 25%
= $1000 / 0.25
= $4000
Learn more about money on:
https://brainly.com/question/24556197
Which of these statements about game design is FALSE?
Game design involves
incorporating user feedback to
improve the platform.
Games design is not a STEM
career because it is just about
making entertainment.
Game design is iterative.
Game design requires many team
members with lots of different
areas of expertise.
When it comes to game design, it is false to say that Games design is not a STEM career because it is just about making entertainment.
Game design:
Incorporates the feedback of users to make better games. Is quite iterative. Requires that many different people from different careers work in different teams.Game design is a STEM career because it requires people with expertise in science, technology, and engineering. It would be false to say that these careers are not present in game design.
In conclusion, option B is correct.
Find out more on STEM careers at https://brainly.com/question/20250489.
During the 'Value Articulation' cycle, you are asked to identify whether the solution can be productized for leverage in
future engagements. What would you need to ensure?
To leverage the productization of solutions identified during the "Value Articulation" cycle, you need to ensure that the solutions gained from the session develop into marketable products.
In all value articulation, the most important factors to consider are as follows:
1. Will the product meet the challenges or desires of potential customers?
2. What are the changes the product will create for the customer?
3. What is the value-added for my organization?
Thus, you must ensure that as the solutions develop into marketable products, they must generate sufficient revenue growth and profitability for the organization.
Learn more about articulating value here: https://brainly.com/question/24309787
Based on the information, it's important to ensure that the solutions gained from the session will enhance the revenue of the company.
Value articulation simply means a framework that's vital in assimilating intellectual property activities within the practices of marketing.
Based on the information given, since the person is asked to identify whether the solution can be productized for leverage in future engagements, it's important to ensure that the solutions gained from the session will enhance the revenue of the company.
Learn more about marketing on:
https://brainly.com/question/25754149
Brown Co. had current assets of $15,000, total assets of $30,000 and current liabilities of $9,000 at the end of the year. The current ratio for the period is:
Based on the information given the current ratio for the period is: 1.67.
Using this formula
Current ratio=Current Assets/Current Liabilities
Where:
Current Assets=$15,000
Current Liabilities=$9,000
Let plug in the formula
Current ratio=$15,000/$9,000
Current ratio=1.666
Current ratio=1.67(Approximately)
Inconclusion the current ratio for the period is: 1.67.
Learn more about current ratio here:https://brainly.com/question/2686492