Answers
Answer:
The answer is below
Explanation:
Given that principle of commonality deals with things that are generally good or beneficial to the whole society regardless of time, space, and cultures. For example, education. However, there are some limitations to the principle of commonality, in relations to government, corporations, and individuals, such as:
1. Lawful subordination: often, corporations are compelled to carry out their activities in a certain way, otherwise they will be sanctioned heavily. This can also be applied to individuals and governments when it comes to making decisions that need approval based on established laws and legal procedures.
2. Economic power: for most common goods that are considered beneficial to society are often capital intensive. Be either corporation, government, or individuals, need a good amount of capital to facilitate necessarily sustainable advancement.
Related Questions
An effective contract writing will describe all _________________ to be conveyed or excluded in the sale in detail.
Answers
An effective contract writing will describe all terms and conditions to be conveyed or excluded in the sale in detail.
An effective contract writing will describe all the essential elements and provisions to be conveyed or excluded in the sale in detail. These elements encompass a wide range of aspects that need to be clearly defined to ensure the rights, obligations, and expectations of both parties are accurately outlined.
Firstly, the contract should outline the identification of the parties involved, including their legal names, addresses, and any other pertinent details that establish their identities. This ensures clarity and avoids any confusion regarding the individuals or entities responsible for fulfilling the contract's terms.
Next, the contract should explicitly define the subject matter of the sale. This includes a comprehensive description of the goods, services, or property being transferred, along with any specifications, quantities, quality standards, or other relevant details. Clearly stating what is included and what is excluded in the sale helps prevent misunderstandings and potential disputes in the future.
Furthermore, the contract should outline the purchase price or compensation, including any payment terms, installment schedules, or contingencies. It should specify the currency in which the payment will be made and any applicable taxes, fees, or additional costs that may be incurred during the transaction.
Additionally, the contract should cover the timeframe and conditions of the sale, including delivery or transfer dates, inspection and acceptance procedures, and any warranties or guarantees provided by either party. It should also address any contingencies or conditions that must be met before the sale can be completed.
Moreover, an effective contract writing should incorporate provisions related to the allocation of risks and liabilities. This includes clarifying who bears responsibility for loss or damage during transit or after delivery, as well as any limitations of liability or indemnification clauses that protect the parties involved.
Lastly, the contract should address dispute resolution mechanisms, such as arbitration or mediation, to provide a framework for resolving conflicts should they arise. It should also include provisions related to the termination or cancellation of the contract and any associated penalties or remedies.
In conclusion, an effective contract writing comprehensively describes all the terms and conditions to be conveyed or excluded in the sale. By addressing the aforementioned aspects in detail, the contract minimizes ambiguity, establishes clear expectations, and protects the interests of both parties involved in the transaction.
for more such questions on contract
https://brainly.com/question/27899951
#SPJ8
26. As a result of a successful attempt by government to cut the economic pie into more equal slices?
a. the pie gets larger, and there will be more pie overall.
b. the pie gets smaller, and there will be less pie overall.
c. it increases the reward for working hard, resulting in people producing more goods and services.
d. those who earn more income pay less in taxes.
Answers
Answer:
B
Explanation:
Analytical queueing models assume a Poisson probability distribution for _____.
rates
arrivals
departures
service times
Answers
Answer:
Arrivals
Explanation:
The poisson probability distribution, treats the probability of an event as being discrete, independent and continous.
For a distribution of mean, μ, occurrence of x is given by:
P(x = x) = (μ^x * e^-μ) / x!
For the queuing theory, the arrival is independent and discrete, with a mean rate of λ rate of arrival. We can determine how many customers are expected to arrive within a specified period of time using the above stated relation.
If the growth rate in an economy is 3%, then its GDP will double in about:
A.
20 years.
B.
23.33 years.
C.
70 years.
D.
245 years.
Answers
Answer:
B. 23.33 years.
Explanation:
If we are going to make use of rule of seventy (70) to help us know the actual time that it takes for a country to double their economy GROSS DOMESTIC PRODUCT (GDP) which means that it will take up to 14 years for a country that has 5% growth rate to double their GDP but in a situation where a country economy has a growth rate of 3% it will takes actually takes 23 .3 years to double their GDP or 10 years to double their GDP.
The change in technology and the globalization have brought new pattern of organizing
today's companies, and thus, the managers need to consider these new concepts in
organization's design process. With this statement, discuss the emerging issues in
organization design and architecture.
Answers
Following are the emerging issues in organization design and architecture:Technology and Globalization, Customer Relations,Technical Knowledge, Flexibility, Employee's Well-being.
Following are the emerging issues in organization design and architecture:
Technology and Globalization: The modern era's rapid technology and globalization have forced the organizations to adopt a new pattern of organizing. Managers are focusing more on technology and globalization and they are ensuring that the company can cope with the emerging challenges.Customer Relations: Customers are the major driving force in every business. To maintain the customer base, the managers need to focus on customer relations as the organization's design process should be centered around their needs. This will help the managers in creating a company that provides excellent customer service to its customers.Technical Knowledge: The success of an organization depends on the technical knowledge of its managers. Managers need to have knowledge about new and emerging technologies so that they can use them to enhance the organization's capabilities. In addition, managers need to know how to apply this technical knowledge to improve the organization's structure and operations.Flexibility: Flexibility is a crucial component in the organization's design process. The managers need to design the organization that is flexible enough to adapt to new changes and technologies. This will help the managers in keeping up with the rapidly changing business environment.Employee's Well-being: The well-being of employees is also a significant issue in the organization's design process. The managers need to design the organization in a way that the employees can work efficiently, and their personal needs are also met. This will help in improving the employee's productivity and motivation level and ensure their loyalty to the organization.For more such questions on Globalization
https://brainly.com/question/9761659
#SPJ8
On January 1, 2022, Blue Company issued $3,400,000 face value, 7%, 10-year bonds at $3,650,227. This price resulted in a 6% effective-interest rate on the bonds. Blue uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on each January 1. (a) Prepare the journal entries to record the following transactions. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1. The issuance of the bonds on January 1, 2022. 2. Accrual of interest and amortization of the premium on December 31, 2022. 3. The payment of interest on January 1, 2023. 4. Accrual of interest and amortization of the premium on December 31, 2023.
Answers
Answer and Explanation:
The journal entries are shown below:
On 2022
For Jan 1
Cash Dr $3,650,227
To Premium on bond payable $250,277
To bond payable $3,400,000
(Being bond payable is issued for cash)
For Dec 31
Interest expense ($3,650,227 × 6%) $219,014
Premium on bond payable $18,986
To Interest payable ($3,400,000 ×7%) $238,000
(Being interest expense is recorded)
On 2023
For Jan 1
Interest payable $238,000
To Cash $238,000
(Being cash paid)
Interest expense ($3,650,227 - $18,986) × 6%) $217,874
Premium on bond payable $20,126
To Interest payable ($3,400,000 ×7%) $238,000
(Being interest expense is recorded)
Which of the following examples is a positive Safety and Health Program reward?
A. Giving prizes to employees who make safety suggestions that are put into place
B. Creating production goals that are financially profitable
C. Highlighting employees with safety incidents during safety meetings
D. Holding team members responsible for each other's participation in safety
Answers
A positive Safety and Health Program reward is a way of recognizing and incentivizing good safety behavior and practices among employees. In this context, giving prizes to employees who make safety suggestions that are implemented is an example of a positive reward, because it encourages employees to think about safety and to contribute their ideas to improve the workplace.
Other examples of positive Safety and Health Program rewards could include recognition in company newsletters or on social media, awards or bonuses for achieving safety goals, or special events or activities to celebrate safety milestones. In contrast, negative rewards are those that punish employees for safety incidents or that create an atmosphere of blame or shame around safety. Examples of negative rewards include withholding pay or benefits, assigning extra work, or publicly shaming employees.
An example is a positive Safety and Health Program reward is Giving prizes to employees who make safety suggestions that are put into place. Thus the correct option is A.
What is the reward?The reward is a term used to describe something that is offered or given in exchange for a random act of kindness or ill suffered, or for a service or accomplishment. This compensation might be seen as recognition for the effort done.
Employee participation in the safety and health management system is recognized, acknowledged, and encouraged by positive incentive programs that promote or compensate people for submitting injuries.
Employers can use safety incentives like time off bonuses, extended break times, certificates of recognition, and more to entice staff to go above and beyond the minimum requirements.
Therefore, option A is appropriate.
Learn more about positive Safety and Health Program, here:
https://brainly.com/question/29577847
#SPJ2
Drag each label to the correct location on the image.
Match the responsibilities to the relevant personnel of an insurance company.
Answers
A claims representative is an individual who works for an insurance company.
A claims adjuster is an individual who works for an insurance company. Their primary role is to investigate, evaluate, and settle insurance claims on behalf of the insurance company.
Some of the functions and roles of a claims representative and claims adjuster in an insurance company are common like closing a claim or making calculations.
Some are exclusive to one like inspecting the accident site and making report of how much claim has to be paid, these are exclusive to a claims adjuster working in insurance company
Learn more about Claims here:
https://brainly.com/question/25022971
#SPJ1
Why isn't authoritarian supervision the best approach for leading a team?
O it works, but is illegal
O it doesn't work
O it works, but takes too much time
O it works, but doesn't develop your team
Answers
can I have free account please
Answers
Answer:
what kind of account?
i will give you don't worry
Do you believe that Mrs. Wyatt was justified in her perception of the situation? Explain.
Answers
Mrs. Wyatt may or may not have been justified in her perception of the situation. It is possible that she felt that she was being ignored or treated unfairly, and that the bank employee was not taking her seriously.
Here are some factors that may have influenced Mrs. Wyatt's perception of the situation:
Her personal experiences. Mrs. Wyatt may have had previous negative experiences with banks, which may have made her more likely to feel that she was being treated unfairly.The bank employee's body language and tone of voice. If the bank employee was not making eye contact with Mrs. Wyatt or was speaking to her in a condescending tone, this could have made her feel like she was being ignored or treated unfairly.The length of time she had to wait. If Mrs. Wyatt had to wait a long time to be served, this could have made her feel frustrated and impatient, which could have made her more likely to perceive the situation negatively.It is important to note that everyone experiences situations differently. What may seem like a minor inconvenience to one person could be a major source of frustration or anger for another. It is also important to remember that bank employees are human beings, and they are not perfect.
For such more question on justified:
https://brainly.com/question/28944491
#SPJ8
TRUE/FALSE. The right to use various designations or phrases in connection with the product, event, or facility, such as official sponsor, official supplier, official product, and presented by, creates exclusivity for a sponsor.
Answers
Answer:
true
Explanation:
critical thinking may begin by questioning everything being skeptical of what you hear and read checking sources recognizing your own biases and assumptions and searching for more information
true or false
Answers
Answer:
True
Explanation:
I HOPE THIS HELP PLS MAKE THIS THE BRAINIEST ANSWER
Hank wanted to make
$75,000 this year.
Instead, he made made
$60,000.
Calculate the variance.
$[?]
![Hank wanted to make$75,000 this year.Instead, he made made$60,000.Calculate the variance.$[?]](https://i5t5.c14.e2-1.dev/h-images-qa/contents/attachments/1da56tQj5ldb5wmVARvDrXde4XZ64jOz.png)
Answers
Explanation:
Based on the given conditions, formulate;
75000- 60000= 15000
Answer:
based on giving terms the answer to this question is 1500
Why does the bank generally print the address of the check writer on the upper left-hand corner of the check?
Maria V. Bowen’s Check for $42.92 is dated March 6, 2019. Pay to the order of Credit Card Company.
A. To prevent people from bouncing a check (i.e., a NSF transaction)
B. To contact the check writer if a check bounces.
C. To advertise its products on the front of a check.
D. To prevent people from stealing checks.
Answers
To contact the check writer if a check bounces the bank generally print the address of the check writer on the upper left-hand corner of the check.
Option B is correct
The bank generally prints the address of the check writer on the upper left-hand corner of the check to be able to contact the check writer if a check bounces or is returned due to non-sufficient funds (NSF). By having the check writer's address on the check, the bank can contact the check writer to inform them that the check bounced and to try to resolve the issue.
This also helps the bank to verify the identity of the check writer and to prevent check fraud.
Option B is correct
To know more about Credit Card . here
https://brainly.com/question/26857829
#SPJ1
In a private enterprise economic system, the interaction of supply an demand primarily determines
Answers
Cameron is part of a team of graphic designers. Though she shares the same title and performs the same tasks as the rest of her team, her co-workers often seek her advice and respect her opinion. Group members such as Cameron are called
Answers
Based on the fact that Cameron performs the same tasks as the rest of her team and yet her co-workers often seek her advice and respect her opinion, Cameron can be described as a negotiator.
Who are negotiator employees?These are employees in an organization who perform the role of an unofficial leader amongst their team.
As a result, their opinions are respected and people come to ask for advice from them even though they are at the same level with those seeking advice.
Find out more on types of employees at https://brainly.com/question/1240189
#SPJ1
What is the purpose of earned value management (EVM) and how does it contribute to the successof a program?
Answers
Answer:
evn
Explanation:
do Businesses operate separately from society as a whole.
Answers
Businesses do not operate separately from society as a whole. In fact, businesses are an integral part of society and their operations can have significant impacts on various aspects of society, including the economy, the environment, and social issues.
Firstly, businesses are a key contributor to the economy of a society. They generate income, create jobs, and drive innovation, which in turn fuels economic growth and development. The success of businesses is closely tied to the health and well-being of the economy, and vice versa.
Secondly, businesses can have significant impacts on the environment. Their operations can result in pollution, depletion of natural resources, and other negative environmental effects. As such, businesses have a responsibility to operate in a sustainable manner, reducing their environmental impact and promoting sustainable practices.
Thirdly, businesses can also have an impact on social issues such as inequality, discrimination, and human rights. For example, businesses may choose to operate in a way that promotes diversity and inclusivity, or they may take steps to ensure that their operations do not contribute to human rights abuses or other negative social impacts.
In conclusion, businesses are an important part of society and their operations are closely interconnected with various aspects of society. As such, businesses have a responsibility to operate in a way that takes into account their impact on society as a whole, including the economy, the environment, and social issues. This is why many businesses are increasingly adopting corporate social responsibility (CSR) policies and practices, which aim to ensure that their operations are sustainable, socially responsible, and contribute positively to society.
To learn more about Businesses operate click:
https://brainly.com/question/24553900
#SPJ1
On January 1, 2023, the Tamarisk Company budget committee reached agreement on the following data for the six months ending June 30, 2023:
1. Sales units: First quarter 4,900; second quarter 6,000; third quarter 7,300 2. Ending raw materials inventory: 40% of the next quarter's production requirements 3. Ending finished goods inventory: 25% of the next quarter's expected sales units 4. Third-quarter production: 7,500 units The ending raw materials and finished goods inventories at December 31, 2022, had the same percentages for production and sales that are budgeted for 2022. 3 kilograms of raw materials are needed to make each unit of finished goods. Raw materials purchased are expected to cost $4 per kilogram.
Question: Prepare a direct materials budget by quarters for the six-month period ended June 30, 2023.
Answers
The final raw material and finished goods inventories at the end of 2020 had the same production and sales percentages as those planned for 2020.
Each kilogramme of finished goods requires 3 kilogrammes of raw materials to manufacture. The estimated cost of raw materials is $4 per kilogramme.
Make a production budget for the six-month period ending June 30, 2021, broken down into quarters.
Sales units: 4,900 in the first quarter, 6,000 in the second, and 7,300 in the third quarter. Ending raw materials inventory: 40% of the following quarter's sales units. The following information for the six months ending June 30, 2023, was agreed upon by the Tamarisk Company budget committee on January 1, 2023: 1. Units of sales First . The Tamarisk Company budget committee agreed on the following on January 1, 2023.
information for the six months ended June 30, 2023:
First quarter: Starting inventory = 5,100 multiplied by 25%
Initial stock = 5,100 * 0.25
Starting stock is $1,275.
Desired final stock = 6,100
To learn more about quarters please click on below link
https://brainly.com/question/391885
#SPJ4
$50 an hour is a
A salary
B commission
C wage
D pension
Answers
Answer: C.) Wage
Explanation: A salary is a set cost that is due to you over an agreed amount of time. A commission is a percentage that you get from the original cost. A wage is the income one makes daily, or per hour. A pension is the gradual amount of money being added up during the years one works. Therefore, $50 an hour is a wage.
I hope this helped!
Good luck <3
What are the steps Greg needs to preform in order to view a ca report
Answers
To view a CA (Certificate Authority) report, Greg can follow these general steps are Access the CA Management Interface, Authenticate and Log In, Navigate to the Reports Section, Select the CA Report and so on.
1. Access the CA Management Interface: Greg needs to access the management interface or portal provided by the Certificate Authority. This interface is usually a web-based application where he can manage and view various certificate-related information.
2. Authenticate and Log In: Greg will likely need to provide his credentials, such as a username and password, to authenticate himself and log in to the CA Management Interface. He may also need to provide additional authentication factors, depending on the security measures in place.
3. Navigate to the Reports Section: Once logged in, Greg should explore the CA Management Interface to locate the section or tab dedicated to reports. The location and labeling of this section may vary depending on the CA system being used.
4. Select the CA Report: Within the Reports section, Greg should identify the specific CA report he wishes to view. The available reports may include certificate issuance summaries, revocation information, validity periods, or other relevant data.
5. Configure Filters or Parameters (if applicable): Depending on the CA system, there might be options to configure filters or parameters to refine the report results. For example, Greg may want to specify a specific time range or filter the report by a particular certificate type.
6. Generate or View the Report: After selecting the desired report and applying any necessary filters, Greg can either generate the report directly or click on it to view the report data. The report may be presented as a webpage, downloadable file, or displayed within the CA Management Interface itself.
7. Analyze the CA Report: Greg should review the CA report to gain insights into the certificate-related information he is interested in. The report may contain statistics, trends, or specific details about the certificates issued, revoked, or expiring.
It's important to note that the specific steps and features may vary depending on the CA system or platform being used. The CA's documentation or support resources can provide more precise instructions for accessing and viewing reports within their particular system.
for more such questions on Management
https://brainly.com/question/1276995
#SPJ11
29. Economics is based on
a. abundance
b. scarcity
c. laborers
Answers
What should you do when you open a checking account?
A) Open a savings account and link it to your checking account.
B)Try to sign up for true overdraft protection, even though you have to pay
for it.C. Both A and B.
Answers
Answer: both a and b
Explanation:
Assume that the British government eliminates all controls on imports by British companies. Other things being equal, the U.S. demand for pounds would ____, the supply of pounds for sale would ____, and the equilibrium value of the pound would ____. a. remain unchanged; increase; decrease b. remain unchanged; increase; increase c. decrease; increase; decrease d. increase; increase; increase
Answers
Answer:
increase
increase
decrease
f Honduras is open to international trade in oranges without any restrictions, it will import
tons of oranges.
Suppose the Honduran government wants to reduce imports to exactly 100 tons of oranges to help domestic producers. A tariff of
$
per ton will achieve this.
A tariff set at this level would raise
$
in revenue for the Honduran government.
Answers
Suppose that Honduras is open to international trade in oranges without any restrictions, it will import an infinite amount of oranges. Therefore, the import of oranges can be limited through a tariff. The Honduran government wants to reduce imports to exactly 100 tons of oranges to help domestic producers.
A tariff of $720 per ton will achieve this. A tariff set at this level would raise $72,000 in revenue for the Honduran government.
Tariff: It is a tax imposed by a government on imported or exported goods. The main purpose of a tariff is to limit imports and protect domestic production and employment.
In this scenario, a tariff is imposed by the Honduran government to limit the import of oranges and help domestic producers. Therefore, if the tariff is set at $720 per ton, then it would reduce the imports of oranges to exactly 100 tons, which is the desired goal of the Honduran government.
Moreover, the tariff rate multiplied by the number of imports gives the amount of revenue raised by the Honduran government, which is $720 × 100 = $72,000. Thus, a tariff set at $720 per ton will raise $72,000 in revenue for the Honduran government.
For more questions on: international trade
https://brainly.com/question/14926566
#SPJ8
Determine the missing amount:
Assets=Liabilities+owners Equity x 272000 573000
Answers
Based on the given amounts of assets and liabilities, the missing amount of Owner's equity is $301,000
How to find the equity?The Owners equity is one of the parts of the Accounting equation which is:
Assets = Liabilities + Owners Equity
The Assets in this instance is $573,000 and the Liabilities are $272,000.
The Owner's equity is the missing amount and it can be found as:
573,000 = 272,000 + Owners Equity
Owners Equity = 573,000 - 272,000
Owners Equity = $301,000
Find out more on owner's equity at https://brainly.com/question/28222828
#SPJ1
Q1. A manufacturing firm has discontinued production of a certain unprofitable product
line. This created considerable excess production capacity. Management is considering to
devote this excess capacity to one or more of three product 1,2 and 3. The available capacity
on the machines which might limit output are given below:
Machine type Available time
(in machine hours per week)
Milling
machine
250
Lathe 150
Grinder 50
The number of machine hours required for each units of the respective product is given
below;
Machine type Productivity (in machine hours/unit)
Product 1 Product 2 Product 3
Milling 8 2 3
Lathe 4 3 0
Grinder 2 0 1
The unit profit would be 20 birr, 6 birr and 8 birr for products 1,2 and 3. Find how much of
each product the firm should produce in order to maximise profit ? Solve the problem by
simplex method.
Answers
The simplex method is a linear programming technique used to find the maximum value of a linear objective function subject to constraints represented by linear equations or inequalities.
How do we use this method?Here's how you can solve this problem using the simplex method:
Formulate the problem as a linear program:
The objective is to maximize the total profit, which is given by 20x1 + 6x2 + 8x3, where x1, x2, and x3 are the number of units of products 1, 2, and 3, respectively. The constraints are the available machine time, which are:
8x1 + 4x2 + 2x3 <= 250 (milling machine)
3x1 + 3x2 <= 150 (lathe)
x3 <= 50 (grinder)
Create a simplex tableau:
The simplex tableau is a matrix used to keep track of the variables and the coefficients of the objective function and the constraints. The first row of the tableau is the objective function, the rest of the rows are the constraints. The last column is called the "result" column and contains the values of the variables and the objective function.
Choose a basic variable:
In the first iteration, we will choose x1 as the basic variable, since it is the only non-negative variable in the objective function. We will write x1 in terms of x2 and x3 using the first constraint:
x1 = (250 - 4x2 - 2x3)/8
Update the simplex tableau:
Substitute x1 in the objective function and in the rest of the constraints:
20 * (250 - 4x2 - 2x3)/8 + 6x2 + 8x3
3x2 <= 150
x3 <= 50
Check for optimality:
Check if all the coefficients in the objective function are non-negative. If so, the current solution is optimal and the problem is solved. If not, choose the next basic variable and repeat steps 3 and 4.
Repeat steps 3 to 5 until optimality is reached:
In the second iteration, we will choose x2 as the basic variable. Substitute x2 in the objective function and in the rest of the constraints, and check for optimality. Repeat this process until the coefficients in the objective function are non-negative, indicating that the solution is optimal.
The final solution will give the number of units of each product that the firm should produce in order to maximize profit.
learn more about simplex method: https://brainly.com/question/30387091
#SPJ1
list and identify donors restrictions about net asset and change in net asset.
Answers
Net assets with donor restrictions – The part of net assets of a not-for-profit entity that is subject to donor-imposed restrictions.
How do you define an asset?An asset is something with monetary worth and/or potential reward. A machine, a financial instrument, or a patent are examples of assets that frequently provide cash flows in the future. Personal property can include a home, car, investments, works of art, or household items.
What kind of asset is that?Intangible assets like patents, royalties, and other intellectual property are included in the category of assets together with tangible items like machinery, real estate, raw materials, and inventory.
To know more about Asset visit:
https://brainly.com/question/14404094
#SPJ1
The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 40,000 shares of common stock in exchange for $400,000 in cash. 2. Purchased equipment at a cost of $50,000. $15,000 cash was paid and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $98,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $170,000. The cost of the goods sold was $80,000. 5. Paid $6,000 in rent on the warehouse building for the month of March. 6. Paid $7,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2018. 7. Paid $80,000 on account for the merchandise purchased in 3. 8. Collected $65,000 from customers on account. 9. Recorded depreciation expense of $2,000 for the month on the equipment. Post the above transactions to the below T-accounts. Assume that the opening balances in each of the accounts is zero.
Prepare a trial balance from the ending account balances.
Answers
Answer:
Wainwright Corporation
1. T-accounts:
Cash
Account Titles Debit Credit
Common stock $400,000
Equipment $15,000
Rent expense 6,000
Prepaid Insurance 7,000
Accounts Payable 80,000
Accounts Receivable 65,000
Balance $357,000
Accounts Receivable
Account Titles Debit Credit
Sales Revenue $170,000
Cash $65,000
Balance 105,000
Inventory
Account Titles Debit Credit
Accounts Payable $98,000
Cost of goods sold $80,000
Balance 18,000
Prepaid Insurance
Account Titles Debit Credit
Cash $7,000
Equipment
Account Titles Debit Credit
Cash $15,000
Notes Payable 35,000
Balance $50,000
Accumulated Depreciation
Account Titles Debit Credit
Depreciation expense $2,000
Common stock
Account Titles Debit Credit
Cash $400,000
Notes Payable
Account Titles Debit Credit
Equipment $35,000
Accounts Payable
Account Titles Debit Credit
Inventory $98,000
Cash $80,000
Balance 18,000
Sales Revenue
Account Titles Debit Credit
Accounts Receivable $170,000
Cost of goods sold
Account Titles Debit Credit
Inventory $80,000
Rent Expense
Account Titles Debit Credit
Cash $6,000
Depreciation Expense
Account Titles Debit Credit
Acc. depreciation $2,000
2. Trial Balance as at March 31, 2018
Account Titles Debit Credit
Cash $357,000
Accounts receivable 105,000
Inventory 18,000
Prepaid Insurance 7,000
Equipment 50,000
Accumulated depreciation $2,000
Common stock 400,000
Notes payable 35,000
Accounts payable 18,000
Sales revenue 170,000
Cost of goods sold 80,000
Rent Expense 6,000
Depreciation expense 2,000
Total $625,000 $625,000
Explanation:
a) Data and Analysis for the month of March 2018:
1. Cash $400,000 Common stock $400,000
2. Equipment $50,000 Cash $15,000 Notes Payable $35,000
3. Inventory $98,000 Accounts Payable $98,000
4. Accounts Receivable $170,000 Sales Revenue $170,000
4. Cost of goods sold $80,000 Inventory $80,000
5. Rent expense $6,000 Cash $6,000
6. Prepaid Insurance $7,000 Cash $7,000
7. Accounts Payable $80,000 Cash $80,000
8. Cash $65,000 Accounts Receivable $65,000
9. Depreciation expense $2,000 Accumulated Depreciation $2,000