Statement of Affairs of Adetokunbo on 30 September 2009:
Assets:
Cash in hand N 5,000
Book Debts:
Good N 5,200
Doubtful N 2,400 (estimated to produce N1,350)
Bad N 305
Inventories in trade N 1,750 (estimated to produce N1,200)
Bill Receivable N 6,500 (estimated to produce N4,000)
Office Furniture N 12,000
Plant and Machinery N 3,000 (estimated to produce N2,000)
Personal Building N 9,000 (estimated to produce N7,500)
Personal Furniture N 2,350
Total Assets N 47,510
Liabilities:
Unsecured creditors N 30,000
Partly Secured creditors N 19,000 (estimated value of security N9,200)
Debts outstanding not included in the petition:
6 months' rent N 3,000
Office staff salary (2 months) N 300
7% Loan from Mrs Adetoku N 4,500
Accrued interest thereon N 315
3 months' rate N 120
Total Liabilities N 57,235
Here are the explanations:
The Statement of Affairs is a financial statement that provides a snapshot of an individual's or entity's financial position at a specific point in time, usually in the context of bankruptcy or insolvency. It lists the assets and liabilities of the individual or entity, along with their estimated values.
In this case, Adetokunbo filed a petition for bankruptcy on September 30, 2009. The statement lists the assets and liabilities as follows:
Assets:
1. Cash in hand: N 5,000
2. Book Debts:
- Good: N 5,200
- Doubtful: N 2,400 (estimated to produce N1,350)
- Bad: N 305
3. Inventories in trade: N 1,750 (estimated to produce N1,200)
4. Bill Receivable: N 6,500 (estimated to produce N4,000)
5. Office Furniture: N 12,000
6. Plant and Machinery: N 3,000 (estimated to produce N2,000)
7. Personal Building: N 9,000 (estimated to produce N7,500)
8. Personal Furniture: N 2,350
Liabilities:
1. Unsecured creditors: N 30,000
2. Partly Secured creditors: N 19,000 (estimated value of security N9,200)
3. Debts outstanding not included in the petition:
- 6 months' rent: N 3,000
- Office staff salary (2 months): N 300
- 7% Loan from Mrs Adetoku: N 4,500
- Accrued interest thereon: N 315
- 3 months' rate: N 120
The total value of assets is N 47,510, while the total value of liabilities is N 57,235.
This statement provides a snapshot of Adetokunbo's financial position on September 30, 2009, indicating that his liabilities exceed his assets, suggesting insolvency. It serves as a basis for further assessment and proceedings related to bankruptcy.
To know more about Adetokunbo click here:
https://brainly.com/question/14826727
#SPJ11
When you ee omeone dreed in very dark clothing with piky hair and eyeliner, you infer that thi peron i into emo punk rock. Your impreion i baed on which et of cue
Such a perception is formed as a result of socio-cultural cues. Usually dark clothing, spiky hair and eyeliner are associated with emo-punk rock.
We formulate perception by various cues. Perception is the ability to process cues and reach a meaningful data or interpretation. These cues are formed due to different life experiences. Visual cues, olfactory cues, environmental cues, social cues etc.
When we saw someone and form a perception about them according to how they dress and behave is called socio-cultural cues. Some dresses or makeup or hairstyles are associated with some people. It may be to a religion or a region or a lifestyle or an art form etc.
Here the cues were the dressing , fashion and hairstyles which are normally associated with emo-punk rock music. So this is based on socio-cultural cues.
For more details regarding Cues in psychology, kindly refer
https://brainly.com/question/28474847
#SPJ4
Describe how you will pay for your schooling. Provide information on applying for
OSAP or student loans, and provide detailed information about one possible bursary,
scholarship or grant you can obtain.
You can only be eligible for OSAP if you don't have enough money from other sources to cover your college or university expenses. The income that you report to OSAP generally needs to match what you reported to the Canada Revenue Agency (CRA) when you filed your taxes.
Which of the following is a difference between Fiedler’s contingency theory of leadership and the path-goal theory of leadership? Select one: a. The Fiedler theory states that a leader can adopt the four leader styles of directing, coaching, supporting, and entrusting, whereas the path-goal theory measures leadership style with the least preferred coworker scale. b. The Fiedler theory discusses leader style, followers and situation, and the rewards to meet followers' needs, whereas the path-goal theory discusses leadership style and group task performance. c. The Fiedler theory enables leaders to diagnose both leadership style and organizational situation, whereas the path-goal theory focuses on the characteristics of followers as the most important element of the situation. d. The Fiedler theory made the assumption that new leaders could take over as situations change, whereas in the path-goal theory, leaders change their behaviors to match the situation.
Answer:
d. The Fiedler theory made the assumption that new leaders could take over as situations change, whereas in the path-goal theory, leaders change their behaviours to match the situation.
Explanation:
Fiedler's theory of leadership is based on the assumption that the leaders can be different and their effectiveness can be measured as when the the situation changes. Accordingly he prefers new management to a new situation, rather than the old one.
Whereas the path goal theory of leadership is based on the assumption and study that allows the managers to change in their behaviours as and when their situation demands. This provides for better working environment and encouragement for employees.
Bob decides to quit his job as a teacher in which he makes $50.000 to open a restaurant. The explicit cost of running his restaurant is $500.000 while the revenue go his business is 525,000. What is his accounting profit or loss? What is his economic profit or loss? What is the implicit cost in this example?
The accounting profit is $25,000.
The economic loss is $-25,000.
The implicit cost is the income Bob earned as a teacher.
What is the implicit cost, economic loss and accounting profit?
Accounting profit is the difference between the explicit cost and the revenue of running a business. Explicit costs are the costs that are actually incurred in the course of a running a business. Examples of explicit costs are rent, wages.
Accounting profit = revenue - explicit cost
$525,000 - $500,000 = $25,000
Economic profit is the difference between accounting profit and implicit cost. Implicit cost is the opportunity that is forgone when one option is chosen over other alternatives. The implicit cost in this question is the income of Bob as a teacher.
Economic profit = accounting profit - implicit cost
$25,000 - $50,000 = $-25,000
To learn more about explicit cost, please check: https://brainly.com/question/25776323
#SPJ1
The formula is p2 / (2 x (1 - p)) where p = average guest arrivals per minute / guests served per minute. If the average guest arrivals per minute is 10 and guests served per minute is 11. What is the average line length? (Compute p to 3 decimal places. Round the answer to the nearest whole number.)
The formula is p2 / (2 x (1 - p)) where p = average guest arrivals per minute/guests served per minute. The average line length is 0.
What is the average line length?Generally,The average line length refers to the average number of characters or words per line in a piece of text or document. The optimal line length can vary depending on the type of text and the medium in which it is presented.
In general, shorter lines are easier to read because they allow the reader to quickly move their eyes from the end of one line to the beginning of the next. Longer lines, on the other hand, may require the reader to move their eyes back and forth across the page, which can be more tiring and lead to slower reading speeds.
To find the value of p, we can substitute the given values into the formula: p = 10 / 11.
Then, we can substitute this value of p into the formula for the average line length:
Average line length = p^2 / (2 x (1 - p))
= (10/11)^2 / (2 x (1 - 10/11))
= 100/121 / (2 x 1/11)
= 200/1331
= 0.15
Rounding to the nearest whole number, the average line length is approximately 0.
Read more about average line length
https://brainly.com/question/10858667
#SPJ1
In case of normal goods, demand curve shows a) Negative slopes b) positive slopes c) Zero slopes d) none of these
Answer:
a. Negative slopes
Explanation:
A negative slopes indicate that there exist a negative relationship between price and quantity demanded of a particular good. This means that when price falls, more units of goods will be purchased by the consumer and vice versa.
A normal good is a type of good whose demand increases as a result of increase in consumer's income. In other words, the higher the income, the higher the quantity demanded of such good by the consumer and vice versa.
It follows that when there is an increase in wage or income of a consumer , more goods will be purchased by them except if there is an increase in the price of such good . When there is price increase for such good, consumer will switch to a substitute good.
select the specific type of interview that is usually conducted when an employee leaves the company?
When an employee leaves a company, an exit interview is usually conducted.
An exit interview is conducted prior to an employee leaving a company in order to gain a sense and understanding of what an organization can improve on in order to retain its top talent. It's an important part of the overall off-boarding process and is usually hosted in some capacity by HR.
An employee may be asked why they are leaving, their personal impression of the company, and any suggestions for improvement during an exit interview. The discussion should ideally be based on a structured questionnaire.
The employee's final few days with the organization are the ideal time for an exit interview. You will have the finest opportunity for a reasonable, introspective, and impartial discussion now that notice has already been given and with a prospective new role approaching.
To learn more about exit interview, please refer:
https://brainly.com/question/28149274
#SPJ4
________ is when a company sells its goods in foreign markets at prices that are below the prices at which it normally sells in its home market or well below its full costs per unit.A) Dumping practicesB) Price-clearing systemC) Clearance saleD) Discounting practicesE) Competitive advantage
Dumping practices is when a company sells its goods in foreign markets at prices that are below the prices at which it normally sells in its home market or well below its full costs per unit. Therefore the correct option is option A) Dumping practices.
Dumping is a term used to describe when a company exports its products to a foreign market at prices that are significantly lower than the prices it normally charges in its home market or below its cost of production. The intention behind this is to gain market share and drive out competitors in the foreign market. Dumping is often seen as an unfair trade practice and can lead to disputes between countries and companies. In some cases, it can be illegal under international trade law. The World Trade Organization (WTO) has rules in place to prevent and address dumping practices, including the imposition of anti-dumping duties on imported products that are deemed to be dumped.
To know more about foreign click here:
https://brainly.com/question/1225355
#SPJ11
the exponential form of 6×6×6×6 is 6 the base is 4 True or False?
___ is high when there are many alternatives to a product or service and low when there are few alternatives from which to choose.
Answer:
Threat of substitute products or services
Explanation:
Threat of substitute products or services are one of Porters Five forces.
When there are many substitutes for a product, consumers can easily start consuming a substitute.
For example, there are different brands of cars. If the price of one brand of car, let's say Mercedes increases, consumers can easily start purchasing cheaper brands like Toyota or Avensis .
On the other hand, food is a necessity with almost no substitutes. If the price of food increases, consumers have no other option but to continue buying food as food is needed for survival.
Your house is for sale for $210,000. A realtor will charge you a 3% sales commission. If you choose a "sale by owner" option bypassing a realtor, you will pay no commission, but you will have to pay an attorney an average of $950 at your closing. What will you save by choosing the "sale by owner" option?
Answer:
5350
Explanation:
If your house is for sale for $210,000. What you will save by choosing the "sale by owner" option is $5350.
What is Sales?Sales can be defined as the way of selling a product in exchange for cash.
Using this formula
Amount saved=(Selling price×Sales commission)- Closing price
Let plug in the formula
Amount saved=($210,000×3%)-$950
Amount saved=$6,300-$950
Amount saved=$5,350
Therefore If your house is for sale for $210,000. What you will save by choosing the "sale by owner" option is $5350.
Learn more about sales here: https://brainly.com/question/25586322
#SPJ2
If the price index moves from 107 to 110, the rate of inflation is: Group of answer choices 3% 30% 28% 2. 8%
If the price index moves from 107 to 110, the rate of inflation is 2.8 %.The percentage change in inflation is then calculated by multiplying this by 100.Option D is correct.
Evaluating:Rate of inflation = 110 - 107 ÷107
= 0.0280 × 100 %
= 2.8 %
How is the rate of inflation determined by price index?The price index from the interest year is subtracted from the base year, and then the result is divided by the base year to determine inflation. The percentage change in inflation is then calculated by multiplying this by 100.
If inflation is too high, what happens?The consumer price index (CPI) is used to measure inflation, which maintains economic health at low rates. But when inflation rises quickly, it can have negative effects on the economy in the form of lower purchasing power, higher interest rates, slower economic growth, and other things.
Question incomplete:If the price index moves from 107 to 110, the rate of inflation is:
a. 3%
b. 30%
c. 28%
d. 2.8%
Learn more about rate of inflation:
brainly.com/question/29230049
#SPJ1
According to the video, what are some qualities Petroleum Engineers need? Check all that apply.
willingness to travel
confidence
public-speaking skills
willingness to work night shifts
problem-solving skills
patience
Answer:
156
Explanation:
The video explained the qualities that Petroleum Engineers needs which includes:
willingness to travelproblem-solving skillspatienceWho are the Petroleum Engineers?These are engineer that specializes in evaluation, development and production in the oil and gas sector.
This video in question stated that all Petroleum Engineers needs to be willingly to travel have problem-solving skills and be patient.
Therefore, the Option 1, 5 & 6 is correct.
Read more about Petroleum Engineers
brainly.com/question/23053217
#SPJ2
In general, which TWO characteristics define a "small" business?
A. Fewer than 1,500 employees
B. Non-profit
C. Between 500 and 2,500 employees
D. Less than $35.5 million revenue
E. No more than $200,000 in sales
Small business includes business privately owned, through partnership or sole proprietorship and has fewer employees and revenue lesser than a regular-sized business.
Examples of Small business are Personal Trainers, Local Auto Repairs, Fair Online Stores, Home care services etc
The major characteristic of small business are
Lower Revenue and Profit Lower EmployeesSmall Market Area Sole or Partnership OwnershipLearn more about small business here
brainly.com/question/15146898
Answer:
A. Fewer than 1,500 employees
D. Less than $35.5 million revenue
Explanation:
-These characteristics define a small business
(I took a test and got it right, sorry that I don't have a further explanation)
If average daily remittances are $6 million, and "extended disbursement float" adds two days to the disbursement schedule, how much should the firm be willing to pay for a cash management system if the firm earns 7% on excess funds
Answer:
$840,000
Explanation:
Calculation of how much should the firm be willing to pay for a cash management system
Using this formula
Annual return from cash management system = Average daily remittances × 2 days disbursement schedule× Percentage of excess funds
Let plug in the formula
Annual return from cash management system$6,000,000 × 2 days × 7%
Annual return from cash management system= $840,000
Therefore the firm be willing to pay the amount of $840,000 for thebcash management system if the firm earns 7% on excess funds.
Sometimes people make their career in academia. Which of the following is an example of such a career?
Taking too long to finish one's degree
Earning a living conducting research at a university
Becoming an elementary school teacher
Earning a living editing how-to books
Answer:
The answer would be (B) but their is still a chance that it is C or D
and not the other ones why is it B well because b is only reasonable one A is just
Answer:
Earning a living conducting research at a university
Explanation:
edge 2021
Scenario 3: Combine parts 1 and 2. Suppose that the U.S. government reduces the tariff on imported coffee, and a reputable study is published indicating that coffee drinkers have lower rates of colon cancer. What will the combined impact be on the equilibrium price and quantity of coffee? Explain your reasoning and show graphically. Make sure you think this through carefully!
A "QUESTION" requires a comprehensive and well-researched answer, tailored to its specific context and subject matter.
What approach should be taken to provide a thorough answer to a "QUESTION"?When faced with a "QUESTION," it is essential to approach it with careful consideration and thorough research. This involves analyzing the question's nuances, understanding the underlying context, and gathering relevant information to provide a well-informed response. By conducting in-depth research, consulting reliable sources, and considering multiple perspectives, one can deliver a comprehensive answer that addresses the question's core and provides valuable insights.
Additionally, presenting the information in a clear and concise manner enhances the overall effectiveness of the answer. Remember, a thoughtful and well-researched response not only satisfies the questioner but also contributes to a meaningful exchange of ideas.
Learn more about Question
https://brainly.com/question/31278601
#SPJ11
retailers that sell ground beef need to keep records for _______ after initial grinding.
According to the U.S. Food and Drug Administration (FDA), retailers that sell ground beef need to keep records for at least 60 days after initial grinding.
This is because ground beef is at a higher risk for bacterial contamination compared to intact cuts of meat. The grinding process can introduce bacteria from the surface of the meat into the entire batch, increasing the risk of foodborne illness.
Keeping records allows retailers to track the source of the beef and quickly identify any potential issues or recalls. These records should include the name and contact information of the supplier, the date of the grinding, the weight or amount of the beef, and any other pertinent information. In addition to record-keeping, retailers should also implement proper handling and storage procedures to minimize the risk of contamination.
This includes keeping the beef refrigerated or frozen at the correct temperature, preventing cross-contamination with other foods or surfaces, and properly cleaning and sanitizing equipment.
By following these guidelines, retailers can ensure the safety and quality of their ground beef products and protect their customers from potential health risks.
To know more about sell ground beef need to keep records click this https://brainly.com/question/14047648
#SPJ11
In what is commonly known as a proceeds transaction, one of your clients is using the proceeds from the liquidation of one stock to purchase another stock. In compliance with the 5% markup policy for these transactions, the markup will be computed based on A) the compensation to the dealer for each side of the transaction separately. B) the markup or compensation to the dealer on the buy side of the transaction. C) a combination of both the buy side and the sell side compensation to the dealer.
Answer:
C) a combination of both the buy side and the sell side compensation to the dealer
Explanation:
Given that in a situation whereby an individual is involved in transacting one position then use the money received to purchase another, the 5% markup is calculated by making a plus of the compensation gotten by the dealer on the sale side to that gotten by the dealer on the buy-side and estimating the total to the inside market on the buy-side.
Hence, in this case, the correct answer is option C
Corey obtained an installment loan of $1,000. The APR is 12%. He must repay the loan in 12 months. How do I find the monthly payment
Answer:
The monthly loan payment will be $ 93.33.
Explanation:
Given that Corey obtained an installment loan of $ 1,000, and the APR is 12%, and I must repay the loan in 12 months, to determine how do I find the monthly payment, the following calculation must be performed:
(1000 x 1.12) / 12 = X
1120/12 = X
93,333 = X
Therefore, the monthly loan payment will be $ 93.33.
on december 31 spearmint, incorporated, issued $450,000 of 9 percent, 3-year bonds for cash of $461,795. after recording the related entry, bonds payable had a balance of $450,000 and premium on bonds payable had a balance of $11,795. spearmint uses the straight-line bond amortization method. the first semiannual interest payment was made on june 30 of the next year. complete the necessary journal entry for june 30 by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
The journal entries as on the date June 30 will have an effect debit to Interest Expenses and Premium Accounts, and credit to the Cash Accounts. Additionally, Proceeds Account will be debited, and the Bond Ac, Premium on Bonds will be credited.
The journal entries for the given accounting transaction in the books of Spearmint Inc. will be as below,
Interest expense Ac. Dr. 18,284.17
Premium Ac. Dr. 1,965.83
To, Cash 20,250
Proceeds Ac. Dr. 461,795
To, Bonds Payable Ac. . 450,000
To, premium on bonds payable Ac. 11,795
Learn more about journal entries here:
https://brainly.com/question/13491844
#SPJ4
The outstanding capital stock of Splish Corporation consists of 2,000 shares of $100 par value, 836 preferred, and 4,900 shares of $50 par value common.Assuming that the company has retained earnings of $92,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.(a) The preferred stuck is noncumulative and nonparticipating. ( Round answers to 0 decimal places, e.g. $38,487.)Preferred Common$ $(b) The preferred stock is cumulative and nonparticipating. ( Round answers to 0 decimal places, e.g. $38,487.)Preferred Common$ $(c) The preferred stock is cumulative and participating. ( Round answers to 0 decimal places, e.g. $38,487.)Preferred Common$ $
The outstanding capital stock of Splish Corporation consists of 2,000 shares of $100 par value, 836 preferred, and 4,900 shares of $50 par value common. In the current year, assuming that the company has retained earnings of $92,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, the amount each class of stock should receive under each of the following conditions is as follows:
(a) The preferred stock is noncumulative and nonparticipating. In this case, the preferred stockholders will receive dividends of $83 per share ($100 par value x 8% dividend rate x 836 shares) and the common stockholders will receive $6.68 per share ($92,500 - $83,000 / 4,900 shares).
Preferred $69,588
Common $32,672
(b) The preferred stock is cumulative and nonparticipating. In this case, the preferred stockholders will receive dividends of $166 per share ($100 par value x 8% dividend rate x 2 years + $100 par value x 8% dividend rate x 836 shares) and the common stockholders will receive $6.68 per share ($92,500 - $166,000 / 4,900 shares).
Preferred $138,873
Common $32,672
(c) The preferred stock is cumulative and participating. In this case, the preferred stockholders will receive dividends of $166 per share ($100 par value x 8% dividend rate x 2 years + $100 par value x 8% dividend rate x 836 shares + $27,500 / 836 shares) and the common stockholders will receive $9.74 per share ($92,500 - $166,000 - $22,736 / 4,900 shares).
Preferred $145,108
Common $47,414
Note: It is important to understand the differences between cumulative and noncumulative preferred stock and participating and nonparticipating preferred stock when calculating dividend payments. Cumulative preferred stock requires that any missed dividend payments be paid before common stock dividends can be paid, while participating preferred stock allows for additional dividend payments to be made beyond the stated dividend rate.
To know more about Capital Stock visit:
https://brainly.com/question/29992715
#SPJ11
All of the following are reasons to attend a vocational school except.
O A. It takes less time than earning a bachelor's degree.
O B. It is cost-effective.
C. Most credits are transferable to four-year colleges.
D. You work with experienced instructors.
Answer:
C. Most credits are transferable to four-year colleges.
Explanation:
Vocational schools offer training on courses that focus on skills required to undertake a particular trade or job function. In vocational training, students are prepared for specific carriers. All other unrelated subjects are disregarded. Due to this and other facts, vocational school training takes less time to complete, is less expensive, and the instructors are specialized.
One cannot transfer credits from vocation training to college. The two institutions offer varied programs that take follow diverse paths, and take different times to complete.
nico had been looking for an interior decorator. he found a few good options and he thinks he will hire the person who was most comfortable with dogs because he did not want to have to put his elderly dog outside while the designer was working. at what stage of the decision process is nico?
He choose an interior decorator based on the non-compensatory rule. As a result, choice (D) is the acceptable one.
What is a non-compensatory decision rule?Alternatives that don't satisfy a specific criterion are eliminated when using a non-compensatory decision-making technique.
Non-compensatory rules presume that judgments are made attribute-by-attribute and that the discrete utilities are not merged into a single utility value, hence they do not allow trade-offs between the relevant attributes of the alternative choices.
When making non-compensatory decisions, consumers weigh features in order, and advantages for some attributes may not outweigh disadvantages for others.
Hence, option (D) is accurate.
Learn more about the non-compensatory decision rule, from:
brainly.com/question/29839779
#SPJ1
Your question is incomplete, probably the complete question is-
Nico had been looking for an interior decorator. he found a few good options and he thinks he will hire the person who was most comfortable with dogs because he did not want to have to put his elderly dog outside while the designer was working. at what stage of the decision process is Nico?
(A) irrational
(B) decision heuristics
(C) compensatory
(D) noncompensatory
Which of the following is NOT true about emergency funds?
a,They can keep you from borrowing money from friends and family.
b,They help remove the worry about expenses not in the budget.
c,They are used for anything listed on the budget.
d,They help you prepare for unexpected expenses.
Answer:
The answer is "They are used for anything listed on the budget."
The option that is NOT true about emergency funds is: c. They are used for anything listed on the budget.
What is emergency funds?Emergency funds are usually not used for things that are planned and included in the budget. Instead, emergency funds are money saved specifically for unexpected expenses that you didn't plan for in your usual budget.
The reason for having an emergency fund is to have money saved for unexpected things that might happen, like when someone gets hurt and needs to go to the hospital or when a car or home needs fixing. It can also help if someone loses their job or if something else happens that they didn't expect.
Read more about emergency funds here:
https://brainly.com/question/13420184
#SPJ6
answer now and if its the right answer i will give a brainleist <3
Why was the era of Roman Emperor Justinian I (529–534) considered significant for the concept of laws throughout history?
Justinian I traveled throughout the Roman Empire in order to obtain the wishes of all his citizens.
Justinian I studied the law and brought attention to a wide variety of legal details.
Justinian I gathered all the legal experts to show how consensus is used in creating laws.
Justinian I was responsible for codifying many laws into a unified source of civil law.
Emperor Justinian stands out because he was responsible for codifying many laws into a unified source of civil law (option D)
Who was Justinian I?Flavius Justinian (482-565) was a renowned Roman emperor, better known as Justinian I the Great. His rule began in the year 527 and lasted until his death.
As emperor he focused on the task of reviving the former greatness of the classical Roman Empire, reconquering much of the lost territories of the Western Roman Empire.
On the other hand, one of his most important legacies is the uniform compilation of Roman law in the work of the Corpus Iuris Civilis, which is still the basis of the civil law of many modern states.
Learn more about Justinian I in: https://brainly.com/question/789740
LaBouche Company had cash receipts from customers in 2017 of $142,000. Cash payments for operating expenses were $97,000. Kelly has determined that at January 1, unearned service revenues was $13,000, and prepaid expenses were $17,500. At December 31, unearned service revenues was $18,600, and prepaid expenses were $23,100. The service revenues on cash basis is:
Select one:
a. $155,000
b. $147,600
c. $142,000
d. $136,400
At the end of the year, prepaid expenses were $23,100 and unearned service revenues were $18,600. The service's cash basis revenues total $136,400.
$142,000 plus $97,000, or $136,400, is the service revenue on a cash basis.
Revenue is the money made from regular business operations and is calculated by multiplying the average sales price by the quantity of units sold. In order to calculate net income, costs must be deducted from the top line (or gross income) figure. On the income statement, revenue is also known as sales.
A company's revenue is the money generated by its operations. Depending on the chosen accounting approach, there are several ways to compute revenue. Sales made using a credit card will be counted as revenue for products or services that were delivered to the customer. In accordance with some regulations, revenue is recorded even if payment has not yet been made.
To determine how effectively a business collects unpaid debt, it is important to review the cash flow statement. Contrarily, sales will only be recorded as revenue in cash accounting after money has actually changed hands. A "receipt" is money given to a business. An example of an activity that results in a receipt but no revenue is when a consumer prepays for a service or undeliverable products.
Learn more about revenues here
https://brainly.com/question/8645356
#SPJ4
diana is in charge of telling employees about a new procedure for submitting expense claims. many of her employees do not have access to company e-mail. what communication channel should she use? a. letter b. memo c. phone call d. text message
(b). memo
Diana is in charge of informing employees about a new procedure for submitting expense claims. Many of her employees do not have access to company e-mail. She must communicate via the Memo communication channel.
Simply put, communication channels are methods of delivering a message to its intended audience. Phone calls, text messages, emails, videos, radio, and social media are all examples of communication channels.
A memo (or memorandum, which is Latin for "reminder") is used in an organization to communicate rules, regulations, report summaries, or other related official business. Instead of communicating with individuals as email or letters do, it takes a one-to-all approach, disseminating a message to a large number of people.
A memo is used to communicate urgent information to individuals within a company or organization. You can also send a memo to companies or individuals with whom you have a close or long-standing relationship, such as vendors or consultants. Like a business letter, a memo , serves as a permanent record of your conversation.
For more information on Communication channels, visit :
https://brainly.com/question/5138786
#SPJ4
HELP ASAP which is an example of a short term SMART career goal A i will work for my dad this summer because i dont have a car so he can drive me to work B I will volunteer at the local animal shelter because i need practical experience for vetinary school C I will apply for a job at acme enterprises because they pay the highest hourly wage in town DI want to work with my friends this summer because i wont have the chance to see them when i go to college.
Answer:
The answer is B
Explanation:
It makes more sense, and also the vet job could be a short time, but it is a smart choice. It is a smart choice because it shows that the vet job will help in the future
a class diagram resembles a horizontal flowchart that shows the actions and events as they occur. true or false
The statement is False. A class diagram is a type of UML (Unified Modeling Language) diagram that represents the structure and relationships of the classes in a system.
It does not depict actions and events as they occur, nor does it resemble a horizontal flowchart.
A class diagram typically consists of classes, their attributes, methods, and the associations between classes. It provides a static view of the system, focusing on the structure rather than the dynamic behavior or sequence of actions.
On the other hand, a flowchart is a graphical representation of a process or algorithm, depicting the sequence of steps and decisions in a system or program.
It illustrates the flow of control or data through various actions and events.
So, a class diagram and a flowchart are distinct types of diagrams that serve different purposes and represent different aspects of a system.
To know more about UML refer here
https://brainly.com/question/30401342#
#SPJ11