On July 1, Smokey Company pays $13,308 for a one-year insurance contract. Debit Rent Expense, $8,000; credit Prepaid Rent, $8,000; this is the adjusting entry for December 31.
What is insurance policy?An insurance contract, represented by a policy, provides financial protection or reimbursement from an insurance company in the event of a loss to the policyholder. In order to lower costs for the insured, the company pooled the money from its customers.
Plans for insurance are designed to guard against the possibility of both significant and minor financial losses brought on by damage to the insured's property or person, or by liability for injuries or damages to a third party.
An insurance policy is a contract that an insurer enters into to reimburse another party for losses brought on by particular risks or occurrences.
There are several varieties of insurance. The four most common types of insurance are life, health, home, and auto.
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Zweig company's adjusting entries include a debit to accounts receivable and a credit to service revenue. this means that zweig:_______
This means that Zweig provided services for which it did not yet receive payment. If Zweig recorded service revenue as a debit, it meant that Zweig had been paid for the already-performed service.
Adjusting entries are modifications to previously written entries in your journal. Journal entries record the inflow and outflow of funds into and out of the various accounts in your business. Making an adjustment entry ensures that the operations of your company are accurately and timely recorded. Your records will show you paying for expenses before they are actually incurred or collecting unearned earnings before you can use the money if you don't make adjustment entries.
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Morris lest, inc. purchased machinery for $10,000 cash. the effect of this transaction is to cause?
Morris Lest Inc.'s acquisition of machinery would result in the same level of total assets.
How will the assets fare?The acquisition of machines will boost total assets. For the production of products and services, equipment is a fixed asset that is necessary.
Cash is also an asset and using it to purchase items will reduce it. As a result, the total assets in this instance remained unchanged as one asset decreased and another increased by the same amount.
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If the federal funds market is at equilibrium at point c and the federal reserve decides to conduct an open-market sale, then it must be trying to set a:______
Lower the market's reserve level to increase the target federal funds rate.
How Do Federal Funds Work?
Federal funds, often known as fed funds, are surplus reserves that commercial banks and other financial institutions deposit with regional Federal Reserve banks. These funds can subsequently be lent to other market participants who lack the necessary cash on hand to meet their lending and reserve needs. Since the majority of these loans are issued for the overnight period, they are unsecured and have a relatively low interest rate known as the federal funds rate or overnight rate.
Federal funds are extra reserves that financial institutions hold over and above the central bank's mandated reserve requirements.
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According to passman, if you sell your song to a publisher, you can get it back 35 years later by merely sending a notice. this is called?
According to Passman, you can simply write a notice 35 years after selling your song to a publisher to obtain it back. This is called Termination Rights.
Any right of the tenant to void or terminate the lease or to demand a partial or complete eviction resulting from a violation or default by the landlord under the terms of the lease is referred to as a "Termination Right" (whether under the terms of the lease or under relevant legislation). Giving the Defaulting Party no more than 20 days' notice, the Non-Defaulting Party may designate a day as an early termination date (the "Early Termination Date") in respect of all pending Transactions between the Parties if, at any time, an Event of Default has happened and is ongoing. The pertinent Event of Default must be identified in this notice. The notice's effective date cannot be earlier than the early termination date.
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When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing. multiple choice
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in B2B marketing.
What is B2B marketing?
Business marketing is a form of marketing used by people or organisations. It enables users to sell goods or services to businesses or nonprofits that then resell them, incorporate them into their own goods or services, or use them to fund their endeavours. It is a means of advancing commerce and raising earnings as well. We've divided the many business customers in B2B marketplaces into four fundamental groups in order to provide you a better understanding of them: producers, resellers, governments, and institutions. It refers to any marketing tactic or piece of material used by one company to promote to and sell to another company. For instance, B2B marketing is frequently used by businesses that sell goods, services, or SaaS to other businesses or organisations.
Therefore,
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in B2B marketing.
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Using the collective power of a community to identify and classify content significantly ________ content categorization costs.
Using the collective power of a community to identify and classify content significantly lower content categorization costs.
What does a community's collective power entail?The two types of power highlighted by social scientists—collective power and distributive power—are included in Russell's concept. It is the combination of organization, cooperation, morale, and technology that enables one group or nation to thrive and succeed while another one falters.
Collective power is the ability of a group to fulfill its collective goals. It is a crucial sort of power, yet it is rarely discussed and frequently taken for granted. It is what enables the existence of distributive power since, without the group's ability to work together and produce, there would be nothing to fight over.
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When individuals use all available information about an economic variable to make a decision, expectations are?
when individuals use all available information about an economic variable to make a decision, expectations are -rational
What is economic variable?
An economic variable is any measurement that helps to consider how an economy may function . for instance population, poverty rate, inflation, and available resources.
What are the five economic variables?
There are 5 common economic variable that are considered :
output, gross domestic product ( GDP ), production, income, and expenditures.
What factors cause economic growth?
Basically , there are two main cause of economic growth: growth in the size of the workforce and growth in the production activity (output per hour worked) of that workforce.
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The assets of a company total $714,000; the liabilities, $207,000. what are the net assets?
The Net assets in stockholders equity of the company are $507,000
How to Calculate Net Assets?Net assets are the value of a company's assets minus its liabilities. It is calculated as (Total Fixed Assets + Total Current Assets) – (Total Current Liabilities + Total Long Term Liabilities).Now,
Assets = Liabilities + Stockholders' Equity
$714,000 = $207,000 + Stockholders' Equity (or Claims of the Owners);
Stockholders' Equity = $507,000
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Record the consumption of supplies during the month if supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand.
If supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand. The appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
Journal entrySince supplies worth the amount of $4,000 were purchased on January 5 and at the end of the month supplies worth the amount of $3,000 were in hand.
Hence,
Journal entry
January 5
Debit Supplies expense $1,000
Credit Supplies $1,000
($4,000-$3,000)
Therefore the appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
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What is the difference between an appreciating asset and a depreciating asset? give examples of both.
The assets that appreciate in value over time are those. Growing one's wealth may be mostly attributed to financial investments in or ownership of appreciating assets. Contrarily, depreciating assets are those that lose value over time and as they are used.
What are assets?A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. Assets are reported on a company's balance sheet. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company. Whether it's manufacturing equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales.
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These are medical expenses that are tax-free with an individual's health account, these can include physicals, eye glasses, and/or dentures:_______-
an individual's health account, these can include physicals, eye glasses, and/or dentures: ----- Covered or Eligible Expenses
Eligible medical expenses :
Qualified Medical Expenses are generally the same types of services and products that otherwise could be deducted as medical expenses on your yearly income tax return. Some Eligible Medical Expenses, like doctors' visits, lab tests, and hospital stays, are also Medicare-covered services.
Expenses NOT Eligible for under an HSA :
The hospital insurance benefits tax, withheld from you pay as part of the Social Security tax or paid as part of Social Security self-employment tax. Nursing care for a healthy baby. Travel your doctor told you to take for rest or change.
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Tyler entered into a contract with leah to provide supplies for her business. What form can the writing of the contract take?
The contract can be written as a 1. an email 2. an invoice 3. a verify.
What Is an Agreement for Business?
Business contracts are used by all parties, including large corporations, small business owners, and even independent contractors. It is advisable for the two parties involved in the trade to create a business contract whenever goods, duties, or services are exchanged in exchange for payment. Business contracts can be upheld through legal action, shielding the two parties from unfair treatment.
An offer of some kind must be made by one party and formally accepted by the other in order for a commercial contract to be formed, as well as a promise to provide a good or service or deliver a product.
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it is a rainy day, and you are considering taking an uber one mile to meet some friends. you have decided you are willing to pay $20 to avoid getting wet from the rain. the trip would normally cost you $8, but because of the weather the surcharge is twice the regular cost. you should because the benefit to you of taking the uber is than the cost.
You should take an Uber because the benefit to you of taking the Uber is more than the cost.
The term "cost" refers to the sum of all (actual or hypothetical) expenses incurred for or related to a given thing or activity. Cost is the amount of money spent by a business to produce or create goods or services. It excludes the profit margin markup. Cost is the sum of money spent on making a good or product, as seen from the seller's perspective. Costing is necessary to make sure that all costs are met and that the group decides on a price that will result in a profit. Finding all of a company's costs, including production, sales, administrative, overhead, etc., is the first and most crucial step. Costs are then divided into fixed and variable costs.
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The price of a european tour includes four stopovers to be selected from among 10 cities. in how many different ways can one plan such a tour?
The cost of a European tour includes four stopovers from a list of ten destinations. In ( 10 choose 4 ) or 210 ways can one plan such a tour.
European tour
On the European Tour, total prize money is around half that of the PGA Tour. The disparity for regular tournaments is significantly bigger because this includes the majors and World Golf Championships, which are the most lucrative events on the calendar.
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A _____ is conducted by marketing researchers to provide background information on other organizations that may have faced similar problems.
Marketing researchers perform a review of the literature to provide context for other firms that could have encountered related issues.
A marketing researcher is what?
Analysis of data from marketing reports and recommendation-making based on that analysis are the duties of a marketing researcher, also known as a marketing research analyst. Their suggestions assist the marketing staff in project planning and helping to keep the company's consumer base constant.
Numerous marketing researchers also contribute to the creation and execution of marketing content strategies and data analysis of the business, its goods or services, and client purchasing patterns. Being knowledgeable about current marketing trends in one's business and remaining current with new marketing technologies are essential components of every marketing researcher's job.
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When the intensity of contractions increases, will the stimulus increase or decrease?
Due to an increase in the intensity of contractions, the stimulus will increase.
What happens to the stimulus when contraction intensity increases?First, you need to understand what the stimulus is. The stimulus in this regard is the pushing of the baby's head against the walls of the cervix.
When the intensity of the contractions being experienced increases, this is the body saying that the baby needs to come out. The baby's head would therefore push against the cervix more which means that the stimulus is increasing.
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Please help
starbright industries which manufactures radiators has recently begun doing business in japan. its executives make a deal to export a shipment of a new type of radiator to japan once the product exits the production stage. the shipment will be worth one billion yen or approximately $9.4 million us dollars.
how does this situation show the difficulty that may be posed by implementing an international set of standards?
The situation shows why it is difficult to implement an international set of standards because different countries might have different standards they adhere to.
Why is it hard to implement an international set of standards?Countries have differing sets of standards based on the prevailing situations in their nations. When they produce goods and services, they will go by those standards. Those standards can sometimes also give them an advantage over other nations which is probably why Starbright Industries is able to sell radiators in Japan.
If an international set of standards is proposed, some nations might kick against it because they want to maintain their competitive edge. Other nations might not be able to afford to meet the new standards and so will protest as well.
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The ________ element of the marketing mix is demonstrated when a company runs a commercial on hulu. product price promotion place process
The promotion element of the marketing mix is demonstrated when a company runs a commercial on Hulu.
This is further explained below.
What is promotion?Generally, A promotion is a process of moving a person up in rank or position within the structure of an organization's hierarchical organization.
A favorable assessment and promotion are two possible outcomes that might result from an employee's strong performance.
In conclusion, When a corporation broadcasts an advertisement on Hulu, they are exemplifying how they will use the promotion component of the marketing mix.
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complete question
The ________ element of the marketing mix is demonstrated when a company runs a commercial on Hulu.
Multiple Choice
place
price
promotion
process
product
What are the effects on the accounting equation when dividends are declared and paid?
a) total assets
b) decrease and total
c) stockholders' equity decreases.
When dividends are declared and paid, retained earnings and cash are both decreased.
Paying dividends reduces cash flow while increasing dividends. A decline in retained earnings will occur when the temporary account of dividends, which will be closed at the end of the time period (such as a year), is closed.
How Do Retained Earnings Work?
After deducting dividend payments, a company's cumulative net earnings or profits are known as retained earnings. The term "retained," which is significant in accounting, captures the fact that the corporation kept such earnings rather than paying them as dividends to shareholders.
For this reason, retained earnings increase when new profits are made and drop when a corporation either makes a profit or pays dividends.
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Since budgeting is a financial function and mostly an analytical and quantitative exercise, it generally has no impact on human behavior, motivation and decision making. true false
Since budgeting is a financial function and mostly an analytical and quantitative exercise, it generally has no impact on human behavior, motivation and decision making. This is false.
What is budgeting?The process of making a spending plan is known as budgeting. Budget refers to this plan for spending money. By making this spending plan, you can predict whether you will have enough money to take care of the things you need to or want to do.
It should be noted that budgeting is a financial function and mostly an analytical and quantitative exercise, it generally has impact on human behavior, motivation and decision making. Budgeting is important in our lives.
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The concept of _______________________ helps public relations people in communicating from the standpoint of their client's values while interpreting their publics' cultures back to the client.
The concept of cultural convergence helps public relations people in communicating from the standpoint of their client's values while interpreting their publics' cultures back to the client.
This is further explained below.
What is cultural convergence?Generally, The idea of cultural convergence assists those who work in public relations in speaking from the perspective of the values of their client while simultaneously translating the cultures of their public back to the client.
In conclusion, The concept of convergence culture is a philosophy that acknowledges the shifting nature of our connections and experiences in relation to new forms of media.
Academics in the field of media generally agree that Henry Jenkins, with his book "Convergence Culture: where old and new media mix," is the "father" of the term "convergence culture."
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The amount of money that a financial institution is willing to lend the borrower on a particular property is the:__________
The amount of money that a financial institution is willing to lend the borrower on a particular property is the: Interest
What is interest explain?
Interest is the price you pay to take money or the cost that charge to borrow money. Interest is most often reflected as an annual percentage of the amount of a loan. This percentage is called as the interest rate on the loan.
What are types of interests?
The three types of interest containing simple interest, accrued interest, and compounding interest. When money is lends, usually by the means of a loan, the borrower is asked to pay the interest agreed by the two parties.
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How many pairs of glasses in a 12-month period will a vision expense insurance plan cover?
1 pair of glasses is what would be covered in a vision expense insurance plan cover.
What is the vision expense insurance plan cover?This is the term that is used to talk about the insurance cover that is able to take care of all that has to do with the visions of a patient. It is the care that has to be given to the patients that would take care of their vision and the routine checks that they need.
This plan is known to also cover for the routine checks that the individual would receive based on the insurance. Hence we can say that 1 pair of glasses is what would be covered in a vision expense insurance plan cover.
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Exchange rates, interest rates, and inflation are all considered part of the _________ environment.
Exchange rates, inflation, and interest rates are all considered part of the economic environment.
The economic environment is referred to as the macro-economic factors, which includes, economic growth, national income, and inflation, which thus affect patterns of consumer and business spending. Thus, companies sell products at lower prices and so they are able to attract larger number of customers.
When considering the rise and fall of the economy in general, within certain industries, or maybe in the specific parts of the world, this rise and fall of economy has a big impact on what customers tend to buy.
Hence, the economic environment is considered important because of the rapid integration of international economic markets.
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Educational level, living conditions, and economic status are part of the ______ assessment.
Educational level, living conditions, and economic status are part of the environmental assessment .
What do you mean by environmental assessment?
Environmental Impact Assessment (EIA) is a tool used to assess the significant effects of a project or development proposal on the environment. EIAs make sure that project decision makers think about the likely effects on the environment at the earliest possible time and aim to avoid, reduce or offset those effects
Why do we need Environmental Assessment?
i) To disclose significant environmental effects of proposed projects to decision-makers and the public. ii) To identify ways to avoid or reduce environmental damage. iii) To prevent adverse environmental impacts by requiring implementation of feasible alternatives or mitigation measures.
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By bundling share purchases of many investors together mutual funds can take advantage of economies of scale and thereby lower.
Mutual funds can take benefit from economies of scale and thereby lower transaction costs by bundling share purchases of many investors together.
You can "mutually" acquire stocks, bonds, and other investments through mutual funds, which allow you to combine your money with that of other investors. They are managed by qualified money managers, who choose which securities to acquire (stocks, bonds, etc.) and when to sell them. You have access to any investment made in the fund as well as any revenue it may provide.
Economies of scale are the cost advantages a company has as a result of increasing its output level. The benefit results from the inverse connection between the amount produced and the fixed cost per unit. The fixed cost per unit decreases as production volume increases.
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If black diamond were to begin focusing its business strategy on offering mountaineering tours with guides and support teams to promote outdoor tourism then this would be an example of:________
If black diamond were to begin focusing its business strategy on offering mountaineering tours with guides and support teams to promote outdoor tourism then this would be an example of a service organization
What is black diamond?One of the strongest varieties of natural diamond is carbonado, also referred to as black diamond. It is an impure, high-density, microporous variety of polycrystalline diamond made up primarily of diamond, graphite, and amorphous carbon, with sporadic reduced metal inclusions and minor crystalline precipitates filling the pores.
Real diamonds can be found in the dark. Natural diamonds, Carbonados, and black diamonds that have undergone treatment can all be found. Contrary to natural diamonds and Carbonados, processed black diamonds undergo heat treatment to acquire their hue.
Black diamonds that have been treated typically cost $300 per carat, however untreated black diamonds typically cost $3,000 per carat.
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When tax rates are constant, taxpayers should ______ tax deductions and ______ recognizing taxable income.
When tax rates are constant, taxpayers should accelerate tax deductions and defer recognizing taxable income.
What's taxable income?
Taxable income is the portion of your gross income that is used to determine your tax liability for a specific tax year. generally , it are often defined as adjusted gross income (AGI) less permitted standard or itemized deductions. together with investment income and numerous unearned income streams, taxable income includes wages, salaries, bonuses, and tips.
Your taxable income is that the amount of your gross income that the IRS considers to be taxable.It is made up of both earned and unearned money.Among other sources of income, taxable income comes from wages, ventures, partnerships, and royalties.Because deductions lower adjusted gross income, taxable income is usually lower.
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To do a thorough environmental scan, a marketer must consider both current and potential ________ in designing a marketing strategy.
To do a thorough environmental scan, a marketer must consider both current and potential Competitors in designing a marketing strategy.
What is a Environmental scan?
Environmental scanning is the examination of outside sources to find elements that affect a firm. Finding and consulting sources outside of the company is the key objective. Despite the fact that these sources cannot be controlled from the standpoint of the business, it is crucial to take them into account when making decisions.SWOT analysis is one well-liked technique for scanning the environment. Strengths, Weaknesses, Opportunities, and Threats are each represented by a letter, and each should be examined. The company's internal factors make up the company's strengths and possibilities, while external variables make up the company's weaknesses and dangers.Companies want the environmental scans they invest time and resources in to produce the most thorough results possible.To know more about Environmental scan visit:
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The difference between the price at which an investment banking firm buys shares from an issuing company and the price at which those securities are sold in the primary market is called the:_________
The difference between the price at which an investment banking firm buys shares from an issuing company and the price at which those securities are sold in the primary market is called the Underwriter's spread.
What is the Underwriter's spread?The Underwriter's spread refers to the amount that the Underwriter gets to benefit from underwriting the sale of a stock.
It is calculated by deducting the amount that the Underwriter sells the stock in the primary market, from the amount that the underwriter (investment banking firm) company buys the shares from the company.
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