Producer surplus is shown graphically as the area under the demand curve and above the supply curve.
What is producer surplus?
Producer surplus is the difference between the least price a producer is willing to sell his good or service and the price of the good. The higher the price of the good, the higher producer surplus is.
Producer surplus = price of the good - least price the seller is willing to sell his good or service.
For example, the least price a seller is willing to sell a good is $1000. The price of the good is $2000. The producer surplus is $1000 (2000 - 1000).
The demand curve shows the relationship between price and quantity demanded. The supply curve shows the relationship between price and quantity supplied. The producer surplus is the area above the supply curve but the area below the demand curve.
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Identify which item belong on the statement of retained earnings
The first item belong on the statement of retained earnings is the ----beginning balance of retained earnings you are carrying over from the previous reporting period
What belongs on a statement of retained earnings?
Similar to other financial statements, a retained earnings statement can be structured as an equation. Which leads with the retained earnings reported from beginning of the period. Then, it's lists balance adjustments based on changes in net income, cash dividends, and stock dividends.
Why retained earnings are liabilities?
Retained earnings are actually based on a liability to a company because they're a sum of money set aside to pay his stockholders in the event of a sale and buyout of the business.
How are retained earnings used?
Retained earnings might be used to pay additional dividends, finance business growth, and invest in a new product line, or even pay back a loan. Many companies with a healthy retained earnings balance would try to achieve the right combination of managing shareholders happy while financing the business growth.
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Complete Question
Identify which item belong on the statement of retained earnings
(A) Retained earning and cash
(B) Dividends and account payable
(C) Retained earning and dividends
(D) Service revenue and Wages expense
Excel allows us to create our own formulas and functions to perform calculations and solve problems within the spreadsheet. How do you think this particular function will save time in using Excel spreadsheets? What other functions can you use on a regular basis? Why? Explain.
Excel allows us to create our own formulas and functions to perform calculations and solve problems within the worksheet. This specific function will save time in using Excel spreadsheets by allowing the predefined formulas to help you quickly find a sum, average, count and maximum and minimum values, making the task faster and more dynamic.
Other excel functions that can be used regularly are date and time, being a predefined function that helps the user to return information in a cell from a date.
What are the advantages of using Excel?This software significantly helps in the organizational work routine, through numerous tools capable of organizing lists and tables with predefined functions capable of increasing the speed of work, combined with the reliability of the results.
Therefore, excel is one of the most used management tools due to the possibility of creating spreadsheets for a variety of purposes, as well as graphs and statistics that are essential for organizational decision-making.
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which of the following is an indication of a possible breach of asset security? A. Payments to creditors are made quickly. B. Check documents have been pre-numbered. C. One employee approves and makes payments D. Customers receive very few cash refunds
Answer: One employee approves and makes payments
Explanation: B is incorrect, its C believe me
Financial statements from the end-of-period spreadsheet
Paoli Consulting is a consulting firm owned and operated by Mary Paoli. The following end-of-period spreadsheet was prepared for the year ended March 31, 20Y9:
During the year ended March 31, 20Y9, $15,000 of additional common stock was issued.
The preparation of an Income Statement, a Statement of Stockholders' Equity, and a Balance Sheet for Paoli Consulting for the Year Ended March 31, 2019, is as follows:
Paoli Consulting
Income StatementFor the Year Ended March 31, 2019
Fees Earned $1,675,000
Salaries Expenses 950,000
Supplies Expenses 32,200
Depreciation Expenses 12,800
Miscellaneous Expenses 15,000 $1,010,000
Net Income $665,000
Paoli Consulting
Statement of Stockholders' EquityFor the Year Ended March 31, 2019
Common Stock $100,000
Retained Earnings 1,860,000
Net Income 665,000
Dividends (30,000)
Ending Equity $2,595,000
Paoli Consulting
Balance SheetAs of March 31, 2019
Assets
Current Assets:
Cash $162,500
Accounts Receivable 304,500
Supplies 5,000 $472,000
Long-term Assets:
Land 1,400,000
Building 850,000
Accumulated Depreciation (72,000) $2,178,000
Total Assets $2,650,000
Liabilities and Equity
Current liabilities:
Accounts Payable $36,500
Salaries Payable 18,500
Total liabilities $54,500
Equity:
Common Stock $100,000
Retained Earnings 2,495,000 $2,595,000
Total liabilities and equity $2,650,000
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Question Completion:Paoli Consulting
Adjusted Trial BalanceMarch 31, 20Y9
Debit Credit
Cash $162,500
Accounts Receivable 304,500
Supplies 5,000
Land 1,400,000
Building 850,000
Accumulated Depreciation $72,000
Accounts Payable 36,500
Salaries Payable 18,500
Common Stock 100,000
Retained Earnings 1,860,000
Dividends 30,000
Fees Earned 1,675,000
Salaries Expenses 950,000
Supplies Expenses 32,200
Depreciation Expenses 12,800
Miscellaneous Expenses 15,000
Totals $3,762,000 $3,762,000
Prepare Income Statement, Statement of Stockholders' Equity, and a Balance Sheet for Paoli Consulting for the Year Ended March 31, 2019.
Which of the following are correct when calculating the cost of a unit of output? (cost unit):
i. All fixed costs are indirect costs
ii. All indirect costs are fixed costs
iii. All variable costs are direct costs
iv. All direct costs are variable
v. All indirect costs are overheads
Group of answer choices
i. only
i. iv. and v.
i. and ii.
ii. and iii.
ii. iii. and iv.
i. iv. and v. All fixed costs are indirect costs, all direct costs are variable, all indirect costs are overheads.
Indirect cost are those which are associated with the process of production indirectly. They are incurred other then the production in which indirectly the material is used. Whereas the direct costs are the one time investments made in the production process so that the process could be made easier.
Costs and overheads are basically part of every production they can added as repairs ,trade expenses etc which makes the process continuous. Variable costs are floating in nature.
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Tapas are savory Spanish small meals or appetizers. If tapas are normal goods and
consumers' incomes increase, what other type of change -- occurring at the exact same time
as the increase in consumers' incomes -- can cause the market price of tapas to increase, but
have an indeterminate effect on the market equilibrium quantity of tapas?
Answer: A Decrease in the number of tapas sellers
Explanation:
What does it mean when someone states, "Those in public administration should
have probity"?
(1 point)
O moral integrity
O ability to balance a budget
O good judgment
O private ownership
What it mean when someone states, "Those in public administration should have probity" is moral integrity.
What is moral integrity?
Moral integrity can be defined as the ability of a person to always display ethical behavior by doing something good and right and avoiding unethical behavior.
A person with moral integrity possess moral principle and must be honest and trustworthy in their ways of life.
Therefore what it mean when someone states, "Those in public administration should have probity" is moral integrity.
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The budget for this consumer is $48. a. What is the price per pound of steak? b. What is the price per pound of chicken? c. List two true statements centered on point A: 1. ___________________ 2. ___________________
Based on the budget of $48, it is to be noted that the price per pound of steak is $4. See further explanation below.
What is the price per pound of chicken?The price per pound of chicken, based on the information provided is $3.
What are the two statements that are centered on point A?The two statements which are TRUE in relation to option A are:
At point A,
1. the consumer is said to be in equilibrium. This is because, at that point, the price at which consumers are supplies are willing to buy and sell respectively are in alignment.
2. It is also TRUE that the marginal rate of substitution is computed at -3/4
See the attached image for further details.
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Time management is not just about managing time; it's also about managing energy.
True or False
Answer:
True
Explanation: If you have energy then you can also manage the time you spend on things because you'll have the energy to do more things and you can do things efficiently
Prepare an income statement for the question provided below in the picture. Thank you
The income statement for Jim blossom has Net income of :$41,493.
What is income statement?Income statement can be defined as the statement that shows the income and expenditure generated by a company in which net income means that revenue is higher than expenditure while net loss means that expenditure is higher than revenue.
Income statement can be calculated using this formula
Income statement= Revenue - Expenses
Now let calculate the income statement for Jim blossom:
Income statement for the year ended 31 December 2024
Revenue:
Service revenue $156,998
Expenses:
Insurance expenses $3,869
Interest expenses $1,029
Operating expenses $3,373
Salary expenses $89,330
Supplies expenses $20,904
Total expenses $118,505
Net income $41,493
( $156,998-$118,505)
Therefore the income statement for Jim blossom has Net income of $41,493.
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When the students make use of technology to access the instructional content is referred to as
The technology to access the instructional content is referred to as Instructional technology.
The process of utilizing technology in teaching is known as instructional technology. Additionally, it covers the creation, layout, and assessment of the instruments utilized in educational activities. The quick advancement of technology in general has led to the creation of instructional technology. A projector was first used in courses to display educational information to the pupils many years ago. In today's classrooms, interactive whiteboards, iPads, and cellphones are being used to supplement learning activities.
Enhancing the efficacy and efficiency of learning is the main goal of instructional technology. The technology is created and crafted to meet the demands of instructors and students. Technology for teaching is used for more than just supporting remote learning. Even when the epidemic is ended, technology may be utilized to improve offline class activities.
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Describe the risks involved in auditing financial investments, including why the auditors might need specialized skills.
The risks involved in auditing financial investments, including the auditors might need specialized skills is fraud risk.
What is an investment?An Investment is the dedication of an asset to gain an increase in value over a period of time. Investment needs a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is to generate a return from the invested asset in a time period.
As a consequence of the constant corporate scandals linked to corruption as well as the emergence of new regulations worldwide, many executives recognize/identifies that the risk of fraud and irregular behaviors inevitably integrates their agendas, and they are fully aware of the need to create specific measures aimed at its timely and effective management.
Effective fraud risk management provides organizations the tools to manage risk in accordance with regulatory requirements, as well as with the needs of the business, the organization and market expectations.
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What is the second step in the five steps of problem solving?
The second step in the five steps of problem solving is Generate possible solutions.
What is problem solving?Problem solving can be described as the process of finding solution to a particular problem most especially in business as well as organization problems.
It should be noted that these steps encompass some steps such as :
defining a problem determining what cause of the problem identifying the problem prioritizing the problem selecting alternatives for a solution implementing a solution.We can conclude that second step in the five steps of problem solving is Generate possible solutions because this bis very necessary so that the problem can be solved easily.
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What amount of capital can eskom raised
According to S&P Global, Eskom's can fund its 2023 financial estimated budget funding requirements for as much as 45 billion rand ($2.64 billion).
This represents about 15 billion rand increment from a previously estimated 30 billion rand, due to lower revenues and higher costs.
What is Eskom?Eskom is a South African company with interests in public electricity. It was founded in 1923 as the Electricity Supply Commission and was also referred to its Afrikaans name. Eskom represents South Africa in the Southern African Power Pool.
According to its projections for its 2023 financial year budget, the company were expected to fund their budget with about 30 billion rand. However, there is a possible increment in its financial budget to about 45 billion rand which represents an additional 15 billion rands.
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In the process of starting a business, after developing a business plan the
entrepreneur needs to
A) order supplies for the business.
B) develop an employee manual.
C) decide an appropriate legal
form of business ownership.
D) promote the business to the customers.
E) file for tax returns for the business with the Internal Revenue Service.
The entrepreneurial process consists of three crucial steps. consists of three steps: (1) discovering business possibilities; (2) planning and putting together the enterprise; and (3) funding the venture and acting. Identification of opportunities, planning and preparation of the enterprise, and resource allocation for the venture
Process requirements. Online banking is possible today because of the development of ATMs in the 1960s.
The majority of businesses are successful because they offer a decent enough product or service. According to multiple research findings, the largest problem for small businesses is marketing, sales, and money. But money management is the one crucial element that most often determines success and failure.
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Financial statements from the end-of-period spreadsheet
Paoli Consulting is a consulting firm owned and operated by Mary Paoli. The following end-of-period spreadsheet was prepared for the year ended March 31, 20Y9:
During the year ended March 31, 20Y9, $15,000 of additional common stock was issued.
Answer:
Because Yes Because Yes Because Yes Because Yes Because Yes Because Yes Because Yes Because Yes Because Yes Because Yes
Explanation:
The provided information suggests that Paoli Consulting, owned by Mary Paoli, prepared an end-of-period spreadsheet for the fiscal year ending on March 31, 20Y9. The spreadsheet likely includes various financial data, such as revenues, expenses, assets, and liabilities, to summarize the company's financial performance over the year.
The statement also mentions that during the same fiscal year, Paoli Consulting issued an additional $15,000 of common stock. Issuing common stock indicates that the company raised capital by selling ownership shares to investors.
This could be a strategic move to secure funds for business expansion, debt reduction, or other financial needs. The issuance of common stock affects the company's equity and may impact financial ratios and indicators. Overall, the end-of-period spreadsheet and the issuance of additional common stock provide insights into Paoli Consulting's financial activities and position for the specified period
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Kaleb is the CEO of Sports City, a sporting goods store. Kaleb wants to increase the sales of Sports City. Kaleb researches the market and discovers that boat sales are soaring, so Kaleb decides to add a line of boats to the inventory of Sports City. Kaleb finds what he believes is a great deal on fishing boats with Fisherman’s Boat Supply and enters into a contract for $90,000 worth of fishing boats. During the first year after the fishing boats are delivered to Sports City, only one boat sells. Sports City suffers an $85,000 loss on the deal. If the board of directors tries to hold Kaleb personally liable for the loss:
If the board of directors tries to hold Kaleb personally liable for the loss they will not be successful, because Kaleb will be protected by the business judgment rule.
What is the business judgment rule?The business judgment rule is a rule enacted to prevent the board of directors or the owner of a company from frivolous lawsuits. The business judgment rule is well known in common law countries.
According to the business judgment rule, the owner or the board of director cannot be taken to court if it is proven that the owner acted in good faith of their stakeholders.
Kaleb entered into the contract because he beleived that it would be a great deal and increase the shareholder's value by increasing the revenue of the company. The fact that the business earned a loss in the first year does not mean that Kaleb did not act in the best interest of the shareholders. Also, the fact that the business earned a loss in the first year does not mean that the business would not make profit in subsequent years.
Here are the options:
A. they will not be successful, because Kaleb will be protected by the business judgment rule.
B. they will not be successful, because as CEO, Kaleb has the ultimate authority to make any decision he chooses about the company and cannot be held responsible even for a careless decision.
C. they will be successful, because Kaleb violated his duty of loyalty to the company.
D. they will be successful, because Kaleb violated his duty of care to the company
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On March 1, ABX Company’s assets are $100,000 and its liabilities are $30,000. On March 5, ABX is fined $15,000 for failing emission standards. ABX immediately pays the fine in cash. After the fine is paid, what is the amount of equity for ABX?
The amount of the stockholders' equity for ABX immediately after paying the fine for failing emission standards of $15,000 is $55,000.
What is stockholders' equity?stockholders' equity represents the interest of the owners in the entity.
stockholders' equity value is calculated as the difference between the company's assets and liabilities.
Data and Calculations:Assets = $100,000
Liabilities = $30,000
Equity before fine = $70,000 ($100,000 - $30,000)
Emission Fine = $15,000
Equity after paying the fine = $55,000 ($70,000 - $15,000)
Thus, the amount of the stockholders' equity for ABX immediately after paying the fine for failing emission standards of $15,000 is $55,000.
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What entrepreneurship activities could you engage in that
would enhance the learning experiences you are gaining in your
classes on campus or on line? Why do you think the activity you
chose would help?
Entrepreneurship activities should you interact in that would beautify the mastering reviews you're gaining to your training on campus or online:
whilst getting to know to turn out to be marketers, we should usually select to construct upon new possibilities, community, search for mentors to research from them as well as brainstorm new thoughts on every occasion we have the time to interact in it.
An entrepreneur is a person who creates a new commercial enterprise, bearing maximum dangers and taking part in a maximum of rewards. The method of setting up an enterprise is known as entrepreneurship. The entrepreneur is commonly seen as an innovator, a supplier of the latest thoughts, items, services, and enterprises/or methods.
Entrepreneurship is the advent or extraction of monetary fees. With this definition, entrepreneurship is considered as an exchange, normally entailing a threat beyond what is usually encountered in starting a business, which may additionally encompass different values than sincerely monetary ones.
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Compare the major antitrust acts of the united states. specify the intent and purpose of each, and draw conclusions about their effectiveness.
The Sherman Antitrust Act, the Clayton Act, and the Federal Trade Commission Act are the three main federal antitrust laws.
All agreements, coalitions, and plans that unjustly restrict domestic and international trade are forbidden by the Sherman Act. This involves agreements between rivals to fix pricing, rig bids, and allocate clients, all of which are considered felonies and subject to harsh penalties. A civil law known as the Clayton Act forbids mergers and acquisitions that are likely to reduce competition. In accordance with this Act, the Government opposes mergers that are likely to raise consumer prices. The Antitrust Division and the Federal Trade Commission must be notified by anyone seeking a merger or purchase of more than a specified size. Although this Act forbids unfair business practices in interstate trade, there are no corresponding criminal sanctions.
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What are the three different types of stakeholders that the board must take into account of? Give examples of each type and explain to illustrate your points?
The various kinds of stakeholders that the board must take into account of are:
employeescustomers, and investors.Who is a key stakeholder?A significant stakeholder is critical to a company's long-term success. Key stakeholders may assist businesses in making strategic choices, reducing risks, and expanding their operations.
If you are active in assisting your business in reaching its objectives, it is critical that you understand who your key stakeholders are and how to identify them.
Employees are crucial because they drive the business, customers are crucial because, the are the reason for the existence of the business, investors are important because, they finance the business.
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Implanted microchips have been tested over long periods of time and are
Implanted microchips have been tested over long periods of time and are widely accepted as being safe.
A microchip is a set of digital circuits on one small flat piece of semiconductor material, normally silicon. A microchip is a unit of packaged pc circuitry that is fabricated from a fabric including silicon at a totally small scale. Microchips are made for program common sense and for pc reminiscence.
In a semiconductor microchip, each little bit of binary information is saved in a tiny circuit known as a memory mobile consisting of one to several transistors. The microchips are specified in rectangular arrays on the surface of the chip. With one in 3 pets turning into misplaced at some degree, these tiny chips are your puppy's quality threat of being returned properly home in the event that they do move missing. At the same time as collars and tags can help reunite misplaced pets with their households they can without problems fall off or be removed, and tags can fade.
This tiny device can preserve computer memory and processors, or be used to behavior energy. You nearly actually use things that incorporate microchips just about every day, inclusive of calculators, financial institution ATMs, sure identification playing cards, cellular telephones, and televisions.
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13. Which of the following is NOT slander per se?
O a. A statement that another has committed improprieties while engaging in a business, profession, or trade
O b. A statement that another has a loathsome disease (such as sexually transmitted diseases or mental illness
Oc. A statement that another has engaged in a sexual affair while married
Od. A statement that another has committed or has been imprisoned for a serious crime
The answer here is all of the above. This option is not given in the question, but evaluating the other four available options, it can be said that all are good examples of slander per se or defamation per se. The tort of defamation refers to the false statement that is spoken or written with the intention to damage someone's reputation. It can be in the form of relating to the person's business and detriment, false claims of a person committing a crime, imposing unchastity on a person, or claiming that another suffers from a loathsome disease.
The prison time period for a person ruining your recognition is “defamation of character”. Defamation describes the act of any other spreading a fake assertion approximately you or your commercial enterprise through the written or spoken word. Slander and libel are the 2 essential forms of defamation.
Depending on the context, calling a person a liar can be defamatory, inflicting damage to a recognition. But, greater regularly than not, calling a person a liar can be certainly an expression of opinion. In a few settings, litigation surrounding the booklet additionally implicates the First Amendment.
Emotional misery damages had been presented to own circle of relatives individuals in complaints in which own circle of relatives individuals had been affected. This consists of clinical malpractice, fake conviction, wrongful death, and plenty of different cases. If a member of the family is performing because of the victim's representative, they could sue for emotional misery.
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Assume that one unit is sold on April 27 for $330. Determine the gross profit for April and ending inventory on April 30 using the (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost methods.
The determination of the gross profit for April and the ending inventory on April 30, using the three inventory costing methods, are as follows:
Gross Profit Ending Inventory
(a) First-in, first-out (FIFO) $97 $469
(b) Last-in, first-out (LIFO) $95 $467
(c) Weighted average cost methods $96 $468
What are the inventory costing methods?Inventory costing methods based on their cost flow assumptions are:
First-in, first-out (FIFO)Last-in, first-out (LIFO)Weighted average cost methods.The FIFO method is a costing method that assumes that goods are sold chronologically as they are produced or bought. Therefore, the cost of goods sold is the cost assigned to the earlier goods.
The LIFO method bases the cost of goods sold on the assumption that the latest goods produced or bought are sold first before the earlier ones.
Under the weighted average method, the cost of goods sold is based on a weighted average cost of all goods produced or bought during the period.
What is the ending inventory?The ending inventory is the difference between the cost of goods available for sale and the cost of goods sold.
What is the gross profit?The gross profit is the positive difference between the sales revenue and the cost of goods sold.
Data and Calculations:Item Beta Units Cost
April 2 Purchase 1 $233
April 15 Purchase 1 234
April 20 Purchase 1 235
Total 3 $702
Average cost per unit = $234 ($702 ÷ 3 units)
FIFO:Cost of goods sold = $233
Ending inventory = $469 ($702 - $233)
Gross profit = $97 ($330 - $233)
LIFO:Cost of goods sold = $235
Ending inventory = $467 ($702 - $235)
Gross profit = $95 ($330 - $235)
Weighted Average:Cost of goods sold = $234
Ending inventory = $468 ($702 - $234)
Gross profit = $96 ($330 - $234)
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Question Completion:Cost Flow Methods
The following three identical units of Item LO3V are purchased during April:
Item Beta Units Cost
April 2 Purchase 1 $233
April 15 Purchase 1 234
April 20 Purchase 1 235
Total 3 $702
Average cost per unit = $234($702 ÷ 3 units)
Use of technology, employee retention and HR development have been at the core of HR becoming more strategic at Xerox. Why have those areas been so key?
Answer:
identify six entrepreneurial qualities that are represented by Lulu
Aberdeen Corporation borrowed $125,000 from the bank on October 1Year The note had an 8 percent annual rate of interest and matured on March 31 year 2 Interest and principal were paid in cash on the maturity date.
A. What amount of cash did Aberdeen pay for interest in Year 1?
B. What amount of interest expense was recognized on the Year 1 income statement?
C. What amount of total was reported on the December 31Year 1balance sheet ?
D. What total amount of cash was paid to the bank on March 31 Year 2 for principal and interest?
E. What amount of interest expense was reported on the Year 2 income statement?
If Aberdeen Corporation borrowed $125,000 from the bank on October 1Year.
A. Cash $0
B. Interest expense $2,500
C.Total liabilities $127,500
D.Cash $130,000
E. Interest expense $2,500
Interest expenseA. The amount of cash that Abardeen pay for interest in year 1 is $0 because the interest matured on March 31, year 2.
B. The amount of interest expense was recognized on the years income statement is:
Interest expense=($125,000 x 8% x 3 months /12)
Interest expense=$2,500
C. The amount of total liabilities that was reported on the December 31, 2016, balance sheet is:
Total liabilities= $125,000 + $2,500
Total liabilities = $127,500
D. The total amount of cash that was paid to the bank on March 31, 2017, for principal and interest is:
Cash= $125,000 Principal + ($125,000 × 8% × 6/12)] Interest
Cash= $125,000 Principal +$5,000 interest
Cash= $130,000
E. The amount of interest expense that was reported on the 2017 income statement is:
Interest expense=$125,000 × 8% ×3/12
Interest expense=$2,500
Therefore If Aberdeen Corporation borrowed $125,000 from the bank on October 1Year . Cash is $0, Interest expense is $2,500, Total liabilities $127,500, Cash $130,000, Interest expense $2,500.
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The cost structure of a business model
The cost structure of a business model describes all costs incurred to operate your business model.
The term business model refers to an organization's plan for developing an income. It identifies the products or services the commercial enterprise plans to promote, its diagnosed goal marketplace, and any predicted charges. industrial organization fashions are important for every new and installed company.
In its handiest form, a business model offers facts approximately a corporation's target marketplace, that market's wishes, and the role that the company's products or services will play in the assembly of the needs of the one. corporation version innovation, then, describes the approach in which an agency adjusts its commercial enterprise model.
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how do i create a process flow chart?
Explanation:
see in computer book u find their
Which of the following is an example of a skill as defined in a KSAO?
A. Changing an oil filter
B. Ability to prioritize
C. Being punctual
OD. Holding a college degree
An example of a skill as defined in a KSAO is A. Changing an oil filter.
What are skills in a KSAO?Knowledge, Skills, Abilities, and other characteristics (KSAO) are those things that are needed to perform a job.
Being able to change an oil filter is a skill because it is something that has to be learned and practiced overtime to perfect. The other options are knowledge and abilities.
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For the current year, the maximum percentage of Social Security benefits which might be included in a taxpayer's gross income is?
For the current year, the maximum percentage of Social Security benefits which might be included in a taxpayer's gross income is 85 percent
The maximum amount of Social Security payments that any household is required to pay as income tax under current law is 33.7 percent. That amount is the result of multiplying the highest marginal income tax rate (which is 85%) by the maximum amount of benefit income that is taxable (39.6 percent).Do you include Social Security income in your gross income?
In addition, regardless of your filing status, half of your Social Security benefit plus all of your adjusted gross income plus all of your tax-free interest and dividends are included in your gross income in any given year.To Learn more about Social Security benefit, Click the links.
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