Answer:
1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000.
Dr Cash 15,000
Dr Accounts receivable 60,000
Cr Service revenue 75,000
2. March 13 Collect on accounts receivable, $48,000.
Dr Cash 48,000
Cr Accounts receivable 48,000
3. May 6 Issue shares of common stock in exchange for $10,000 cash.
Dr Cash 10,000
Cr Common stock 10,000
4. June 30 Pay salaries for the current year, $32,000.
Dr Wages expense 32,000
Cr Cash 32,000
5. September 15 Pay utilities of $5,000 from 2020 (prior year).
Dr Utilities payable 5,000
Cr Cash 5,000
6. November 24 Receive cash in advance from customers, $8,000.
Dr Cash 8,000
Cr Unearned revenue 8,000
7. December 30 Pay $2,000 cash dividends to stockholders.
Dr Dividends 2,000
Cr Cash 2,000
Adjusting entries:
Depreciation for the year on the machinery is $6,000.
Dr Depreciation expense 6,000
Cr Accumulated depreciation 6,000
Plumbing supplies remaining on hand at the end of the year equal $1,000.
Dr Supplies expense 2,000
Cr Supplies 2,000
Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year.
Dr Unearned revenue 6,000
Cr Service revenue 6,000
Accrued utilities at year-end amounted to $7,000.
Dr Utilities expense 7,000
Cr Utilities payable 7,000
Pipers Plumbing
Trial balance
For the year ended December 31, 2021
debit credit
Cash $46,000
Accounts Receivable $21,000
Supplies $1,000
Equipment $26,000
Accumulated Depreciation $12,000
Accounts Payable $4,000
Utilities payable $7,000
Deferred Revenue $2,000
Common Stock $28,000
Retained Earnings $9,000
Service revenue $81,000
Wages expense $32,000
Depreciation expense $6,000
Supplies expense $2,000
Utilities expense $7,000
Dividends $2,000
Totals $143,000 $143,000
Pipers Plumbing
Income statement
For the year ended December 31, 2021
Service revenue $81,000
Wages expense $32,000Depreciation expense $6,000Supplies expense $2,000Utilities expense $7,000 ($47,000)Net income $34,000
Pipers Plumbing
Retained Earnings Statement
For the year ended December 31, 2021
Beginning balance January 1, 2021 $9,000
Net income $34,000
Subtotal $43,000
Dividends ($2,000)
Ending balance December 31, 2021 $41,000
Pipers Plumbing
Balance Sheet
For the year ended December 31, 2021
Assets:
Cash $46,000
Accounts Receivable $21,000
Supplies $1,000
Equipment, net $14,000
Total assets $82,000
Liabilities:
Accounts Payable $4,000
Utilities payable $7,000
Deferred Revenue $2,000
Total liabilities $13,000
Stockholders' Equity
Common Stock $28,000
Retained Earnings $41,000
Total stockholders' equity $69,000
Total liabilities + equity $82,000
Woolies environmental impact in relation to the triple bottom line
The environmental impact as regard is the Triple bottom is that Woolies has reduced the ways that it sends wastes to landfills and has also embraced the method of recycling.
What is the triple bottom line?This is the term that is used to refer to a sustainable network or frame work that a business may have to adopt. What this means is that they would have to adopt the practice of measuring the success of the business through the eyes of the following elements.
peopleplanetprofitHence The environmental impact as regard is the Triple bottom is that Woolies has reduced the ways that it sends wastes to landfills and has also embraced the method of recycling.
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Rental agreements are typically paid while leases are typically for Select
a month to month,4 months to 10 years
b week to week, 2 months to 3 years
c month to month,6 months to a year
d week to week,6 months to a year
Most time, the Rental agreements are typically paid month to month while the leases are typically for 6 months to a year.
What is a Rental agreements & leases?Rental agreements refers to agreement made on a rent between a tenant and landlord of a property while the leases agreements is between the lessee and lessor.
Thus, in most time, the Rental agreements are typically paid month to month while the leases are typically for 6 months to a year.
Therefore, the Option C is correct.
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Classify the following items as an asset (A), a liability (L), or stockholders' equity (S) for Target Corporation, a large retailer:
a. Land
b. Accrued expenses payable
c. Supplies
d. Equipment
e. Notes payable
f. Long-term debt
g. Retained earnings
h. Prepaid expenses
i. Accounts payable
j. Accounts receivable
k. Merchandise inventory
l. Common stock
The classification of an asset, liabilities, or stockholder equity is as follows:
Land = AssetAccrued expenses payable = LiabilitiesSupplies = AssetEquipment = AssetNote payable = LiabilitiesLong-term debt = LiabilitiesRetained Earnings = Stockholder equityPrepaid expenses = AssetAccount payable = LiabilitiesMerchandise inventory = AssetCommon stock = Stockholder equityLearn more about the asset here: brainly.com/question/14404094
True or false many small businesses fail every year
Answer:false
Explanation:
true or false: you can fill type with a pattern in print shop?
Explanation:
This sentence seems correct.
a small company that manufactures rubber boots is selecting a method to forecast demand for the next 10 years. the company recently expanded its facilities, doubling its capacity. which of the following forecasting methods would be preferred?
A tiny rubber boot manufacturer company is choosing a way to predict the need for the next ten years. According to the question, the Qualitative forecasting methods would be preferred.
What exactly is a company?To operate and administer a commercial and industrial enterprise, a group of individuals can create a legal body known as a corporation. For tax & current burden considerations, a company may be set up in a number of ways depending on the corporate law of its jurisdiction.
What does a company's kind mean?Various business kinds A "company" is any firm established in conformity with the 2013 Companies Act. Although a privately held corporation is most often thought of when the word "company" is used, it can also be used to refer more generally to a one-person business, a registered liability, or a section 8 company.
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6. Why do employees often feel that appraisals “highlight all the bad things they did all year?”
Answer:
Explanation:
Performance appraisal is the method by which the performance of an employee is determined by the employer. It's main purpose is to eliminate the performance deficiencies of the employees. It is a part of career management.
The appraisals stress on the need to have more efficient employee and the deficiencies of the employee pointed out by the appraisal are overcome by the employee by taking the required training. Thus the employees feel that appraisals highlight all the bad things they did al year.
“EBIT is generally considered to be independent of financial leverage, because EBIT is the result of a firm’s operating effectiveness. However, with an excessive debt levels, EBIT might actually be influenced by financial leverage.”
Comment on the statement above.
Answer:
The answer is below
Explanation:
EBIT is known as an accounting measure to determine the profit level of a firm. It is an acronym of Earnings Before Interest and Taxes.
EBIT is generally considered to be independent of financial leverage because EBIT is the result of a firm’s operating effectiveness.
This is true because, EBIT is based on the firm's level of sales and cost of operation, of which financial leverage has no effects on it.
However, with excessive debt levels, EBIT might be influenced by financial leverage.
This implies that even though the financial leverage of a firm has no direct influence on EBIT, in a situation whereby a firm is operating at huge deficits, every aspect of the film will be concerned. This will include staff, customers, investors, and operational activities, thereby affecting the firm's sales and cost of operation. As a result, this will ultimately affect the firm's EBIT.
explain ten importance of studying constitutional law. 200words
Answer:
Studying constitutional law is important for understanding the fundamental principles by which a government exercises its authority. It is important for understanding how the different branches of government interact and how citizens’ rights and freedoms are protected. Constitutional law is also important for understanding the structure of a government, including the relationship between the central government and state, provincial, or territorial governments in federal countries. Constitutional law is also important for understanding the development of a nation and its legal system. It helps to explain why certain laws exist and how they have evolved over time. It can also provide insight into the history and culture of a nation. Constitutional law is also important for understanding how the government can be held accountable. It helps to ensure that the government does not overstep its authority and that its actions are in line with the principles of the constitution. Constitutional law is also important for understanding how to interpret and apply the law. It can provide guidance on how to interpret the constitution and how to apply legal principles to new and emerging situations. Finally, studying constitutional law is important for understanding the role of the judiciary in the legal system. It can provide insight into how judges interpret the constitution and how they make decisions. It can also provide
Explanation:
Identify the South African barriers to entry market share
Barriers to entry in South Africa include:
High startup costsLimited access to financingWhat are some barriers to entry ?Some industries in South Africa entail expensive start-up costs like procurement of equipment, infrastructure development or acquiring licenses which can be limiting for new entrants.
Several startups may encounter challenges in obtaining financial aid due to limited capital availability or stringent borrowing rules as well as exorbitant interest charges. The regulatory framework within the country is multifaceted and applies robust controls across a multitude of sectors that may be restrictive for businesses trying to establish themselves.
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Three basic questions of economics are:
a. Why? How? What? b. What? How? For Whom?
c. What? Where? When? d. What? How? Where
What role do governments play in the free enterprise system?
A. Providing jobs to all unemployed citizens
B. Deciding which products will be produced in factories
C. Controlling vital industries such as health care
D. Enforcing legal regulations to keep employees safe
Answer:
D. Enforcing legal regulations to keep employees safe
Explanation:
Enforcing legal regulations to keep employees safe.
In its function as a rule-maker, the government makes and enforces laws governing the conditions beneath which voluntary transactions are made. those laws are designed to protect the rights to non-public assets and character freedom and to keep and promote competition.
What is the position of government in a free employer device?In essence, the government gives the umbrella under which the unfastened organization system operates. Governments also provide goods, together with national defense, that the non-public market on its own might have a tough time generating. The charging machine is the link that connects customers, manufacturers, and markets.
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What type of Businesses has limited liability ?
Answer:
LLC, a limited liability company
Explanation:
Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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operations management course concept
The operations management course concept refers to the systematic design, direction, and control of the processes that transform inputs such as raw materials, energy, and labor into outputs such as goods and services that satisfy customer needs.
This management process includes inventory management, scheduling, supply chain management, quality control, and more. The goal of operations management is to create efficient processes that maximize productivity while minimizing costs.
Students taking an operations management course learn about these concepts and how to apply them to real-world situations in various industries. They also study topics like process design, project management, lean principles, and decision-making models.
The course is usually offered as a part of business administration, engineering, or industrial technology programs. Graduates of the course may go on to careers as operations managers, logistics managers, supply chain analysts, process improvement specialists, or manufacturing engineers, depending on their areas of focus and interests.
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Jorge has a new job in an office. Which of the following safety procedures will he most likely need to learn?
Answer: D) How to exit safely in the event of a fire
Explanation:
3. What is the importance of an amin?
Answer:
The importance of Amin is survival of life.
Explanation:
Amines play an important role in the survival of life – they are involved in the creation of amino acids, the building blocks of proteins in living beings. Many vitamins are also built from amino acids. Serotonin is an important amine that functions as one of the primary neurotransmitters for the brain.
At what percentage of credit card usage, does it start affecting your score in a negative way?
Answer:
3%
Explanation:
ratio of 80 or 90 percent or more highly negative impact on your credit score.
Both Bond Bill and Bond Ted have 6.2 percent coupons, make semiannual payments, and are priced at par value. Bond Bill has 5 years to maturity, whereas Bond Ted has 25 years to maturity. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Bill? Of Bond Ted? Both bonds have a par value of $1000. If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Bill be then? Of Bond Ted? Illustrate your answers by graphing bond prices versus YTM. What does this problem tell you about the interest rate risk of longer-term bonds?
Answer:
a-1. Percentage change in the price of Bond Bill = -8.07%
a-2. Percentage change in the price of Bond Ted = -21.12%
b-1. Percentage change in the price of Bond Bill = 8.94%
b-1. Percentage change in the price of Bond Ted = 30.77%
c. See the attached excel file for the graph.
d. It tells us that the longer the term of a bond, the greater will be its interest rate risk.
Explanation:
The price of each bond can be calculated using the following excel function:
Bond price = -PV(YTM, NPER, PMT, FV) ........... (1)
Where;
a-1. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Bill?
YTM = (6.2% + 2%) / Number of semiannuals in a year = 8.2% / 2 = 4.1%
NPER = Number of semiannuals to maturity = 5 * 2 = 10
PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31
FV = Face value = Initial price of Bond Bill = $1,000
Substituting all the values into equation (1), we have:
New price of Bond Bill = -PV(4.1%, 10, 31, 1000)
Inputting =-PV(4.1%, 10, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:
New price of Bond Bill = $919.29
Percentage change in the price of Bond Bill = ((New price of Bond Bill - Initial price of Bond Bill) / Initial price of Bond Bill) * 100 = (($919.29 - $1,000) / $1,000) * 100 = -8.07%
a-2. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond Ted?
YTM = (6.2% + 2%) / Number of semiannuals in a year = 8.2% / 2 = 4.1%
NPER = Number of semiannuals to maturity = 25 * 2 = 50
PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31
FV = Face value = Initial price of Bond Ted = $1,000
Substituting all the values into equation (1), we have:
New price of Bond Ted = -PV(4.1%, 50, 31, 1000)
Inputting =-PV(4.1%, 50, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:
New price of Bond Ted = $788.81
Percentage change in the price of Bond Ted = ((New price of Bond Ted - Initial price of Bond Bill Ted) / Initial price of Bond Ted) * 100 = (($788.81 - $1,000) / $1,000) * 100 = -21.12%
b-1. If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Bill be then?
YTM = (6.2% - 2%) / Number of semiannuals in a year = 4.2% / 2 = 2.1%
NPER = Number of semiannuals to maturity = 5 * 2 = 10
PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31
FV = Face value = Initial price of Bond Bill = $1,000
Substituting all the values into equation (1), we have:
New price of Bond Bill = -PV(2.1%, 10, 31, 1000)
Inputting =-PV(2.1%, 10, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:
New price of Bond Bill = $1,089.36
Percentage change in the price of Bond Bill = ((New price of Bond Bill - Initial price of Bond Bill) / Initial price of Bond Bill) * 100 = (($1,089.36 - $1,000) / $1,000) * 100 = 8.94%
b-2. If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond Ted be then?
rate = new YTM = (6.2% - 2%) / Number of semiannuals in a year = 4.2% / 2 = 2.1%
NPER = Number of semiannuals to maturity = 25 * 2 = 50
PMT = Payment = Coupon rate * Face value = (6.2% / Number of semiannuals in a year) * 1000 = (6.2% / 2) * 1000 = $31
FV = Face value = Initial price of Bond Ted = $1,000
Substituting all the values into equation (1), we have:
New price of Bond Ted = -PV(2.1%, 50, 31, 1000)
Inputting =-PV(2.1%, 50, 31, 1000) in a cell in an excel file (Note: As done in the attached excel file), we have:
New price of Bond Ted = $1,307.73
Percentage change in the price of Bond Ted = ((New price of Bond Ted - Initial price of Bond Bill Ted) / Initial price of Bond Ted) * 100 = (($1,307.73 - $1,000) / $1,000) * 100 = 30.77%
c. Illustrate your answers by graphing bond prices versus YTM.
Note: See the attached excel file for the graph.
d. What does this problem tell you about the interest rate risk of longer-term bonds?
It tells us that the longer the term of a bond, the greater will be its interest rate risk.
what does the world analogy have to do with the writing of Shakespeare text?
Answer:
The world analogy is a concept commonly used in Shakespeare's writing. It represents the idea that the entire world can be seen as a stage, and that individuals are merely actors playing out their roles. This analogy can be seen in several of Shakespeare's plays, including "As You Like It," "Hamlet," and "Macbeth."
In Shakespeare's writing, the world analogy highlights the transience and impermanence of human life. By likening the world to a stage, Shakespeare suggests that life is a temporary performance and that individuals are merely players in a larger drama. This idea is particularly relevant in tragedies like "Hamlet" and "Macbeth," where characters grapple with their mortality and the futility of their actions.
The world analogy also serves to underscore the theatricality of human behavior. Just as actors on a stage play out their roles, individuals in the real world often adopt certain personas and play out social roles. This idea is particularly relevant in comedies like "As You Like It," where characters frequently adopt disguises and engage in playful deception.
Overall, the world analogy is a key concept in Shakespeare's writing, and it serves to illuminate the complex and multifaceted nature of human existence.
Explanation:
what is one of the biggest problems today that has resulted from increase productivity?
One of the biggest problems today that has resulted from increased productivity is "Mental Stress."
This is because as the productivity level of companies increases, such increase is attributed to employees giving more energy and time to the production.Working for extended hours with more energy has its downsides.Aside from getting tired, and perhaps disinterested, there is also a danger of mental stress.Also, it may lead to employees being undervalued, because companies managers would expect more from the employees with little or no rise in remuneration.Hence, in this case, it is concluded that the biggest problem today that has resulted from increased productivity is "Mental Stress."
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My name is Felicia McMillian, and I was referred to you by a friend. I have a question about what I should do with my money. I've been working as a pharmaceutical sales representative for just two years now, but I've already started investing a little bit of my money. Right now, I have a checking account, a money market account, and I've started buying small bonds. I am beginning to earn a little more money, and I'm starting to think about future goals, like buying a house, helping my kids pay for college, retirement. . . all things that are more than 10 years down the road. What would you advise me to do at this point?
One basic factor for success with DynamoDB. select one
Answer:
how can I select one of there isn't any options.
Kris is a salesperson for IBM. He makes a base salary of $80,000 per year plus 4% of net sales. He is paid bi-weekly, and commission is paid when the sale is billed. This period, they billed a $25,000 sale. Kris has also made another $25,000 sale but it was not billed until the day after the close of the pay period. What should Kris expect his gross pay this period to be?
$1,000
$3,076.92
$4,076.92
$5,076.92
Explanation:
To calculate Kris's gross pay for the pay period, we need to calculate his commission on the billed sale of $25,000 and add it to his base salary. We also need to calculate his commission on the unbilled sale of $25,000 and include it in the next pay period.
Commission on billed sale = 4% of $25,000 = $1,000
Base salary = $80,000 per year / 26 pay periods per year = $3,076.92 per pay period
Gross pay for this pay period = Base salary + Commission on billed sale = $3,076.92 + $1,000 = $4,076.92
Therefore, Kris should expect his gross pay this period to be $4,076.92, which is option C.
1. $4,076.92
2. Assets = Liabilities + Equity
3. They can be used to make online purchases.
4. by using an emergency fund for this unplanned expense
5. a fund with a minimum investment that tracks the value of cash
6. 1930s
7. Banks because they are highly regulated by the government, so the loan terms will not be predatory.
8. their vacation cabin
9. You should shop around for the best overall deal.
10. If you use a credit card, it is easy to run up huge debts.
11. They are tied directly to your bank account.
12. preventative care
13. $100,000 per person bodily injury, $300,000 per incident for bodily injury, $50,000 for property damage
14. how long the coverage lasts, how much the premium costs, and the cash value
15. 1-year renewable group term life
16. Identity thieves can intercept unencrypted data being sent to Wi-Fi hot spots.
17. Wells Fargo employees were opening unauthorized deposit and credit accounts for its customers.
18. 2 year in state community college degree
19. tuition assistance
20. -a sundae, -movie tickets
Explanation: All of these answers are correct!
Personal Finance Semester Exam
5/11/2023
What do we call the value of the next best alternative given up when a choice is made?
A opportunity cost
B sunk cost
C needs
D scarcity
Answer:
A) Opportunity Cost
Explanation:
Explain any two (2) value chain activities that Coca-Cola makes use of.
Coca-Cola employs marketing and sales activities to create brand awareness and optimize their supply chain and manufacturing process to produce and distribute products efficiently.
Coca-Cola, one of the world's leading beverage companies, employs various value chain activities to produce and distribute its products effectively. Here are two examples of value chain activities that Coca-Cola uses
Marketing and Sales: Coca-Cola invests heavily in marketing and sales activities to create brand awareness and promote its products. They use various channels such as TV commercials, billboards, social media, and sponsorship of events to reach their target customers.
Operations: Coca-Cola has a highly efficient supply chain and manufacturing process that helps them produce and distribute their products efficiently. They have established production facilities in various regions worldwide, allowing them to produce and distribute products locally.
Overall, these value chain activities enable Coca-Cola to produce and distribute its products efficiently while maintaining the quality of its products and building brand loyalty among customers.
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The Better Business Buniau is a consumer protection organization sponsored by consumer groups.
O a. True
O b. False
Assume that a properties CAM expense is 30,000 per year and 60% fixed. The occupancy is 70%.
$30000 value should be entered in the Amount 1 field in the Operating tab.
What is CAM expense?Common Area Maintenance charges, or CAM for short, are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property. Each tenant pays their pro rata share of a property's total CAM charges, which prorated share is the percentage of the tenant's rented square footage of the total, rentable square footage of the property. A common example of a CAM item is the cost of cleaning the walkways in a shopping mall.
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the ____ is a federal government agency that offers both managerial and financial assistance to small businesses
Fowler, Inc., just paid a dividend of $2.70 per share on its stock. The dividends arexpected to grow at a constant rate of 4.5 percent per year, indefi nitely. Assuminvestors require a return of 9 percent on this stock.
a.
What is the current price?
b.
What will the price be in six years and in thirteen years?
The dividend discount model can be used to determine the current price: P is calculated as D/(r-g), where D stands for dividend, r for needed return, and g for anticipated growth rate. Hence, P = 2.70/(0.09-0.045) = $54.
What does 4% dividend yield mean?For instance, let's say a shareholder pays $100 a share for $10,000 worth of a stock that pays a 4% dividend return. This shareholder holds 100 shares, each of which pays a dividend of $4 (100 x $4 = $400 in total).
How is the projected dividend per share determined?The dividend paid in the most recent quarter, which is also used to determine the dividend yield, is sometimes used to determine a company's DPS. The following formula can be used to determine DPS: DPS = (total dividends paid.
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