Which of the following will be recorded in the owner’s equity column as an increase
The choices are:
A. an exchange of assets
B. the purchase of an asset on credit
C. an investment by the owner
D. a withdrawal by the owner
The purchase of an asset on credit will be recorded in the owner's equity column as an increase.
To
add, the owner's equity represents the owner's investment in
the business minus the owner's draws or
withdrawals from the business plus the net income (or minus the net loss) since
the business began.
Jones company reported pretax book income of $400,000. included in the computation were favorable temporary differences of $50,000, unfavorable temporary difference of $20,000, and favorale permanent differences of $40,000. book equivalent of taxable income is:
In this case, the book value of taxable income would simply be the difference in pretax book income and favorable permanent differences. That is:
Taxable income = Pretax book income – Favorable permanent differences
Taxable income = $400,000 - $40,000
Taxable income = $360,000
Compensatory damages replace what was lost because of what the breaching party did and for this reason are often said to "make the person whole." true or false
What does the credit balance in the accumulated depreciation account represent?
How many crates of apples will be sold after the price floor has been imposed?
Final answer:
A price floor's impact on the sale of apple crates is complex and depends on the market dynamics, potentially leading to a surplus, increased consumer costs, and resource wastage.
Explanation:
We can discuss the concept of a price floor and its general effects on a market. A price floor is a government- or body-imposed minimum price that can be charged for a product or service. When a price floor is set above the market equilibrium, it can lead to potential unintended consequences in the market for that commodity.
Surplus: A price higher than the equilibrium price may reduce the quantity of apples purchased by consumers, leading to a surplus where the supply exceeds demand.Increased costs for consumers: With the enforcement of a price floor, consumers have to pay more for apples than they would in an unregulated market, effectively decreasing their purchasing power for apples.Wastage of resources: Surplus produce may lead to wastage if it is not sold, has a limited shelf life, or lacks alternative markets.What are hourly wages? Select the best answer from the choices provided. income that is based on a yearly rate income that is based on the number of hours worked a benefit that is received once a year a benefit that is based on the number of hours worked
Answer:
The correct answer is letter "C": a benefit that is based on the number of hours worked.
Explanation:
Hourly wages refer to the amount of money an employer agrees to pay an employee per hour according to the type of job that person will perform. The total wage will be the result of multiplying the hourly rate agreed by the total number of hours the employee worked.
Discuss the effects of cultural continuity and change on organizational succession planning. provide two examples.
Succession planning is wherein is the process of developing individuals for key positions as well as leadership training for the future. This is usually wherein employees are being assessed to have a specific position that they would in someday.
Examples would be:
1. To retain the talents of the employees and to create an attraction for the company for future job seekers.
2. The continuity of leadership through development for future achievements.
A company sold merchandise with a cost of $238 for $440 on account. the seller uses the perpetual inventory system. the entry to record the cost of merchandise sold would include ________.
Under the perpetual inventory system, when merchandise is sold, the cost of goods sold is debited (increased), and the inventory is credited (decreased) by the cost of the goods (in this case, $238). This entry reflects the cost of the merchandise sold.
Explanation:When the company sells merchandise using a perpetual inventory system, the cost of the goods sold is transferred from the inventory account into the cost of goods sold (COGS) account. In this case, where the merchandise was sold for $440 but had an original cost of $238, the accounting entry would see a decrease in inventory by $238 and an increase in the COGS by the same amount.
Therefore, the entry to record the cost of merchandise sold would include a debit to Cost of Goods Sold (COGS) for $238 and a credit to Inventory for $238. Debits represent an increase in expense accounts such as COGS, and credits represent a decrease in asset accounts such as Inventory. This reflects the $238 cost of the merchandise that has been sold.
Learn more about Perpetual Inventory system here:https://brainly.com/question/30245776
#SPJ11
Shamas famous restaurants expects to pay a common stock dividend of $1.50 per share next year (d1). dividends are expected to grow at a 4% rate for the foreseeable future. shamas’ common stock is selling for $18.50 per share and issuance costs are $3.50 per share. what is shamas cost of external equity?
The company's external equity comes from those funds raised from public issuance of shares or rights. The cost of external equity is the minimum rate of return which the shareholders supply new funds by purchasing new shares to prevent the decline of the market value of the shares. To compute the cost of external equity, we should use this formula:
Ke = (DIV 1 / Po) + g
Ke = cost of external equity
DIV 1 = dividend to be paid next year
Po = market price of share
g = growth rate
In the problem, the estimated dividend to be paid next year is $1.50. The market price is $18.50 and the growth rate is 4%.
Substituting the given to the formulas, we need to divide $1.50 by $18.50 giving us the result of 8.11% plus the growth rate; this would yield to the result of 12.11% cost of external equity.
A singles business aims its promotions toward singles between the ages of 25 and 40 who reside in a specific county. the business has ________.
Burlington coat factory warehouse, inc., had a dress code that required male sales clerks to wear business attire consisting of slacks, shirt, and necktie. female saleschecks, by contrast, were required to wear a smock so that customers could readily identify them. karen o'donnell and other female employees refused to wear the smock. instead they reported to work in business attire and were suspended. after numerous suspensions, the female employees were fired for violating burlington's dress code policy. all other conditions of employment, including salary, hours, and benefits, were the same for female and male employees. (o'donnell v. burlington coat factory warehouse, inc., 656 f.supp. 263 (s.d. ohio 1987) see employment discrimination was the dress code policy discriminatory
Bureaucratic rules designed to make it difficult for imports to enter a country are called local content requirements.
a. True
b. False
Which of the following is the correct minimum coverage that you must have for Property Damage Liability?
If a building was 750 feet tall how many stories would it have
Technological advances have resulted in fewer opportunities for small businesses abroad.
a. True
b. False
If a corporation has two classes of common stock, what is typically unique about the second or class b common stock?
Describe how cost information relates to the three key activities of management: planning, budgeting, and control.
Swot analysis is a technique to analyze the internal and external environment of a firm. what are its advantages and disadvantages?
The io paradigm has been qualified by the potential for ________ to lead to a company's sustained competitive advantage.
Sally tends to procrastinate in the initial stages of a project, but she always comes through when the pressure is on. for sally, this pressure is a form of __________.
_____ is designed to help consumers make proper product selections and lower their cognitive dissonance after a purchase.
Final answer:
Consumer behavior is designed to help consumers make proper product selections and lower their cognitive dissonance after a purchase.
Explanation:
Consumer behavior is designed to help consumers make proper product selections and lower their cognitive dissonance after a purchase. Cognitive dissonance refers to the mental discomfort experienced when a person holds conflicting beliefs or experiences tension between their beliefs and actions.
This occurs when a person feels regret or doubts about a purchase they have made. Consumer behavior helps consumers resolve this dissonance by providing information and tools to make informed product choices and alleviate regret.
Everyone likes to have lydia working on their committees because she seems to have the unique ability to consider a variety of options and quickly narrow the list of options down to the one or two best alternatives. in other words, lydia is skilled inâ
Coordination and policy harmonization problems are largely a function of the number of countries that seek agreement.
a. True
b. False
Esteban, a manager, performs a cost benefit analysis of the various alternatives to determine which one will have the best net financial payoff. this manager is focusing on which criterion for decision-making?
Krizum industries makes heavy construction equipment. the standard for a particular crane calls for 24 direct labor-hours at $16 per direct labor-hour. during a recent period 850 cranes were made. the labor rate variance was zero and the labor efficiency variance was $8,800 unfavorable. how many actual direct labor-hours were worked?
A labor rate variance equal to zero would mean that the standard labor rate is equal to the actual labor rate which is $16 per direct labor-hour. To recall, the formula for labor efficiency variance is:
Labor efficiency variance = (AH - SH) × SR
Where,
AH = actual number of hours worked = unkown
SH = standard number of hours worked = 850 cranes * 24 hours per crane = 20,400 hours
SR = standard labor rate = $16
Substituting the known values to the equation:
$8,800 = [AH – 20,400 hours] * $16 per hour
$8,800 = [AH - 20,400 hours] * $16 per hour
$8,800 = (AH * $16 per hour) – ($326,400)
AH * $16 per hour = $326,400 + $8,800
AH * $16 per hour = $335,200
AH = $335,200 / $16 per hour
AH = 20,950 hours
To calculate the actual direct labor hours worked, use the labor efficiency variance formula. In this case, the actual direct labor hours worked was 574 hours.
Explanation:To calculate the actual direct labor hours worked, we need to use the labor efficiency variance formula:
Labor Efficiency Variance = (Actual Hours - Standard Hours) x Standard Rate
Given that the labor efficiency variance is $8,800 unfavorable and the labor rate variance is zero, we can rearrange the formula to find the actual hours:
Actual Hours = Standard Hours + (Labor Efficiency Variance / Standard Rate)
Substituting the given values into the formula:
Actual Hours = 24 hours + ($8,800 / $16 per hour)
Actual Hours = 24 + 550
Actual Hours = 574 hours
Learn more about Labor efficiency variance here:https://brainly.com/question/31657772
#SPJ3
Ryder and sergei are partners in timberline gear, which sells mountain- and rock-climbing equipment. ryder manages the business. unless the partnership agreement states otherwise, ryder is?
The __________ job market is comprised of internet job boards, want ads, newspaper ads, and radio advertisements. these are media sources where employers will proactively seek employees.
When security issues are a special concern, companies want to take extra steps to make sure that transmissions can’t be intercepted or compromised. in these situations they will use a network that encrypts the packets before they are transferred over the network. this solution is called a(n)?
The net income earned by the cooper, cross, and crane partnership is $18,000. their respective average capital balances are $20,000, $20,000, and $40,000. what is the closing entry to allocate the net income if no agreement was made for division of income?
In the absence of an agreement on how income should be divided among the owners, the sharing of income will be based on their average capital balances (as what is given in the problem). Therefore, we need to determine the proportionate shares of the owners based on their contribution.
Here is the table showing the allocation of income:
Cooper $20,000/$80,000 X $18,000 = $4,500
Cross $20,000/$80,000 X $18,000 = $4,500
Crane $40,000/$80,000 X $18,000 = $9,000
Total $80,000 $18,000
The answer to your question is:
Debit Income Summary $18,000; credit Cooper's Capital $6,000; credit Cross's Capital $6,000; credit Crane's Capital $6,000.
A contingency was evaluated at year-end. management felt it was probable that this would become an actual liability and the amount could be reasonably estimated. if this was not reported on the balance sheet or in the notes to the financial statements, what is the effect on the financial reporting of the company? the information about the transaction would be inadequately disclosed in the notes. there would be no effect. the liabilities on the balance sheet would be understated. the net income of the company would be understated.