The entries in the books of Ivanhoe Inc. to record the mortgage loan on December 31, 2022, and December 31, 2023 are as follows:
Journal Entry:December 31, 2022: Debit Cash $720,000
Credit Notes Payable $720,000
20%, 10-year mortgage note
December 31, 2023: Debit Notes Payable $150,000
Credit Cash $150,000
Transaction Analysis:December 31, 2022: Cash $720,000 Notes Payable $720,000
20%, 10-year mortgage note
December 31, 2023: Notes Payable $150,000 Cash $150,000
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How is creating a report with the report wizard different from creating one with the report button?
The creation of report with the report wizard differs from creating one with the report button because the report wizard allows the user to have more options and flexibility in the design.
What is a report wizard?This refers to the self-service reporting solution that enables users to create business reports quickly and efficiently.
However, the creation of report with the report wizard differs from creating one with the report button because the report wizard allows the user to have more options and flexibility in the design.
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Which statement indicates the impact of globalization on the African farming community?
The statement that indicates the impact of the Globalization on the African farming community is use of modern methods of farming increased the crop production of the people.
What is Globalization?Globalization is a term which refers to the interconnection and interaction of the economy with that of the world's economy. It involves the exchange of the knowledge, trade, technology and even people.
The complete image of the question is attached below.
The African farmers faced many challenges but still they are graced with a very appropriate soil type, which has been aided by modern irrigation practices, fertilizers.
Many of the international aggro-processing company that set up factory near the village in the hopes of obtaining easy and cheap labor. As a result of these factors, people's crop production has increased dramatically.
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Zion company sells merchandise on credit to brc, inc. in the amount of $1,200. the entry to record this sale would include a: (check all that apply.)
The entry to record the sale of merchandise would include
-Debit to Accounts Receivable
-Credit to Sales
What is journal entry?Journal entry refers to how business transactions are recorded for ease of reconciliation.
Typically, when goods are sold, the accounts receivable is debited, while sales is credited.
Hence, the entry to record the sale of merchandise would include debit to Accounts Receivable and credit to sales.
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A postaudit is a valuable process because blank______. multiple choice question. it forces companies to fire employees who made poor estimates during the decision making process it gives managers something to do after they are done with the decision-making process actual values can be used to determine if the project is performing as expected
A postaudit is a valuable process because Actual values can be used to determine if the project is performing as expected.
What is the purpose of the postaudit and audit process?Postaudit is been done after an audit has been made to get the deep inspection needed about the project at hand.
Audit process help with the inspection of various books of accounts as well as other information that is needed to be go through as regards the project.
But with the postaudit, Actual values can be known.
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Question 13 (5 points)
Which of the following arguments would an economist use in favor of sustainable development?
Improved education is the key to economic development.
Rapid development causes environmental problems for the whole world.
There is not enough wealth in the world to sustain development.
Less developed countries need to industrialize quickly to keep up.
Answer:
Improved education is the key to economic development.
Explanation:
What is development without education, then we will just go back to the Savage civilization, education is fundamental in our professional and personal life, it deals with everything. Like industrialization, cooking, economic development and everything else. So for sustainable development for a developed or developing country one needs education to become skilled and help in the development of ones country
The Herfindahl index equals ______. Multiple choice question. total market shares of the largest four firms in an industry sum of the squared percentage market shares of all firms in an industry average percentage market share in an industry percentage market shares of all firms in an industry
The Herfindahl index equals sum of the squared percentage market shares of all firms in an industry.
What is Herfindahl index?The Herfindahl Index can be regarded as the common measure of market concentration which is used in measuring the market in term of the competition.
In calculating this Herfindahl Index, we can determine the pre- and post-M&A and equals sum of the squared percentage market shares .
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The finalized registration statement for new securities approved by the SEC is called A. a firm commitment. B. a red herring. C. the prospectus. D. the preliminary statement
The finalized registration statement for new securities approved by the SEC is called the prospectus. Option C. This is further explained below.
What is a prospectus?Generally, a prospectus is simply defined as a printed pamphlet promoting an institution to prospective students or parents, or including information for investors about a stock offer.
In conclusion, The prospectus is the finished SEC-approved registration statement for new securities.
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All of the following involve counterbalancing errors except the failure to record prepaid expenses. understatement of inventory. overstatement of purchases. failure to adjust for bad debts.
The items that are not counterbalancing errors includes the failure to record prepaid expenses.
What is a counterbalancing error?This refers to the type of error that will be offset or corrected over 2 periods of accounting.
Hence, the failure to record prepaid expenses and depreciation does not involves a counterbalancing errors.
Therefore, the Option A is correct.
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What is the total annual dividend received from
owning 100 shares of stock A, if Company A
issues a $0.20 quarterly dividend to its
shareholders?
There are 4 quarters to a year.
0.20 x 4 = $0.80 per year per stock
100 x 0.80 = $80 per year.
answer: $80
Savannah Corporation purchased 35,000 shares of common stock of the Boulet Corporation for $50 per share on January 2, 2017. During 2017, Boulet Corporation had 140,000 shares of common stock outstanding, paid cash dividends of $120,000, and reported net income of $320,000. Savannah Corporation should report revenue from investment for 2017 in the amount of $30,000. $50,000. $80,000. $0.
Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.
Amount to be reported as revenueFirst step
Percentage ownership=35,000/140,000 shares ×100
Percentage ownership=25%.
Second step
Using equity method
Revenue from investment=25%× $320,000
Revenue from investment=$80,000
Therefore Savannah Corporation should report revenue from investment for 2017 in the amount of $80,000.
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Why is the allowance method preferred over the direct write-off method of accounting for bad debts?.
The allowance method is preferred over the direct write-off method of accounting for bad debts I'm not hungry, bud. I got too exhausted to sleep right now because we caught the one I saw in my truck yesterday, so I'll just go back to sleep for the time being.
What is accounting?The process of gathering, compiling and reporting information on business and financial transactions. also: this system's guidelines and practices. as a first-year student, I studied accounting: work done in accounting or by accountants.
By recording bad debt expenditure within the same accounting period that income is recorded, the allowance approach adheres to the matching principle. Users benefit from a more accurate display of net income or net loss as a result.
Because bad debt expenses are incurred closer to the point of sale or service, the allowance technique may be more advantageous for a business than the direct write-off method. The allowance creates a more realistic estimate of the end-of-period financials, enabling the organization to understand its situation and plan accordingly.
Therefore, Method is favored by the direct write-off approach to bad debt accounting. I don't need food,
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A market economy is driven by the economic principle of.
Answer:
A market economy functions under the laws of supply and demand. It is characterized by private ownership, freedom of choice, self-interest, buying and selling platforms, competition, and limited government intervention. Competition drives the market economy as it encourages efficiency and innovation.
Explanation:
Prepaid expenses are eventually expected to become.
Answer:
Free for the next (for example) month until the time the time is due, considering you paid for 2 months rent in the midst of one.
Explanation:
trust
What can you do if you aren't sure how to create good content for your website?
a. hire a copywriter
b. stick with headings and captions
c. write anything to fill the pages
d. add more video links
What can you do if you aren't sure how to create good content for your website is: a. hire a copywriter.
How to create good content for your website
If you do not know how to create good content that will attract people to your website the best choice is to hire a copy writer.
A copy writer will be in the best position to help you write good content until you are capable of writing good content your self without the help of a copy writer.
Therefore the correct option is A.
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John is a registered agent with ABC Brokerage, a registered securities broker-dealer in the State. Mike is a registered agent of XYZ Insurance Brokerage, a registered insurance agency in the State. John is not registered with the State to sell insurance and Mike is not registered with the State to sell securities. Mike verbally agrees with John that Mike will tell his insurance clients to do their securities trades with John, for which John will pay Mike 25% of the commission charged to the customer. This is a violation known as:
In this question the violation that is committed here is what is called splitting commission.
What is splitting commission?
This can be described to be a commission that is split between two people or more.
The commission is split when the person that got the job decides to split with the other party that linked him up with a client.
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_________ float results from the delay between the time when a customer deducts a payment from the checking account ledger and the time when the vendor actually receives the funds in a spendable form. (a) Mail (b) Processing (c) Collection (d) Disbursement
The delay between the deduction of the payment amount from the customer's checking account and the time in which that amount is received by the vendor is treated as the collection float.
Option C is the correct answer.
What is meant by collections?
Collections are the amount that has yet to be received by the company from the customers.
When the amount paid by the customer gets deducted from his/her bank account and the same amount earned by the selling party for spending further, then the duration between deduction and its reach to the vendor is considered as a collection float.
Therefore, the collection float represents the time of receiving payment to the vendor with its initial deduction from the customer's account.
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Wax music expects sales of $437,500 next year. the profit margin is 4.8 percent, and the firm has a 30 percent dividend payout ratio. what is the projected increase in retained earnings
$16,231 is the Projected Increase in Retained Earnings.
Explanationget here first Expected Profit that is express as
expected Profit = Sales × Profit Margin .......................1
expected Profit = 437500 × 5.3%
expected Profit = $23187.50
and Dividends is here as
Dividends = Expected Profit × Dividend Payout Ratio .................2
Dividends = 23187.50 × 30%
Dividends = $6956.25
Projected Increase in Retained Earnings will be
Projected Increase in Retained Earnings = expected Profit - Dividends ........3
Projected Increase in Retained Earnings = $23187.50 - $6956.25
Projected Increase in Retained Earnings = $16231.25
There are options missing in the question which is given below-
a. $16,231
b. $17,500
c. $18,300
d. $20,600
e. $21,000
Thus, the correct option is a. $16231
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An investment had a nominal return of 11.7 percent last year. The inflation rate was 4.4 percent. What was the real return on the investment?
The real return on this investment equals to 7.3%.
What is a real return on an investment?This refers to the amount earned on an investment after accounting for taxes and inflation.
Real return = Nominal return - Inflation rate
Real return = 11.7% - 4.4%
Real return = 7.3%
Therefore, the real return on this investment equals to 7.3%.
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Competition among economic units ______. Multiple select question. should not occur within a market system diffuses economic power within the businesses and households that make up the economy. implies that producers can enter or leave an industry is not congruent with the concept of self-interest
The Competition among economic units diffuses economic power within the businesses and households that make up the economy.
What is Economy?Economy refers to the area or the region which produces the goods and services. It implies to the wealth and the resources of the nation. It involves the management of the finances. for example :- the stock market system of the United States.
The competition among the business leads to the innovation of the new products and the services which in turn is beneficial for the customers. It diffuses the economic power as the income earned gores in the market and the household.
Thus it helps in the economic growth of the nation. Therefore the correct option is diffuses economic power within the businesses and households that make up the economy.
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Refers to the total number of units that are purchased at that price.
The total number of units purchased at that price is called the quantity demanded.
What is the Demand VS Quantity demanded?Demand refers to the quantity of the goods and services that a customer is willing and ready to buy at the given price during the particular period of time.
Quantity demanded refers to the amount of goods and services that customers/ people will buy at particular price and at particular point of time.
The formula to find the demand is = Qd = x + yP, where Qd is demand, x is quantity and yP is the price.
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You are on the team of executives at Star Bank. You have been meeting as a team to discuss the future of the bank, including big picture goals of how to grow the company. What type of planning is this?
A. operational
B. functional
C. strategic
D. consumer
SOMEONE PLEASE HELP!!!!!
Strategic planning is the type of planning used by team of Star bank.
What is strategic planning?Strategic planning is a type of planning that is channeled towards a purpose.
Companies make use of strategic planning to help focus on a particular goal or aim
Therefore, Strategic planning is the type of planning used by team of Star bank.
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A firm evaluating two mutually exclusive projects can Blank______. Multiple select question. accept one of the projects reject both projects accept both projects reject one of the projects
When a firm is evaluating two projects that are mutually exclusive, they can:
accept one of the projects.reject both projects.reject one of the projects.What happens when a firm has mutually exclusive projects?Mutually exclusive projects mean that only one project can be embarked on at any given point.
This means that a firm will have to accept one project, and reject the other. They could also reject both projects.
The options are:
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Which of the following is not one of the four main types of inventory?
a. raw material inventory
b. work-in-process inventory
c. maintenance/repair/operating supply inventory
d. safety stock inventory
e. All of these are main types of inventory.
Answer:
All of these are main types of inventor.
Of all the given types of inventory, the one which is not on the list of four main inventory is the safety stock inventory. Hence, Option D is correct.
What is an inventory?
The products and materials that a company keeps on hand with the intention of reselling, producing, or using them are referred to as inventory or stock. The main focus of inventory management is determining the location and shape of stocked commodities.
There are four basic categories of inventory: finished items, MRO, WIP, and raw materials/components. All the goods, merchandise, and supplies that a company keeps on hand in anticipation of selling them for a profit are referred to as inventory.
Example: Only the newspaper will be regarded as inventory if a newspaper vendor utilizes a vehicle to distribute newspapers to clients. The car will be considered an asset.
Thus, Option D is correct.
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Companies create a division of labor among employees in order to: 0 a. allow each employee to perform one task at a high level. b. gain access to more human and physical capital. c. reduce the opportunity cost for hiring new employees. o d. make it easier to shift employees between different jobs.
Companies create a division of labor among employees in order to allow each employee to perform one task at a high level
What is division of labor?It involves Sharing of duties or job among individuals or employee.
An employee is allowed to handle a particular task for efficiency.
Therefore, Companies create a division of labor among employees in order to allow each employee to perform one task at a high level
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Prepare a dialogue on the topic Possibitics of Rural Tourism in Nepal "
...Sky-Dive... creates new social and economic opportunities, awareness, improve the quality of rural life, and promote sustainable development of communities.
INTERVIEW a business owner on the crisis experienced in the workplace attach an interview schedule as part of your oral presentation
Interview helps to select the best fit for a Job.
What is interview?Interview is usually an interactive sessions between an intending employee and the human resources personnel.
The sessions is to know if the individual is the best fit for a job.
Therefore, Interview helps to select the best fit for a Job.
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Assume Germany can either produce 3 bushels of wheat or 6 bushels of corn in a set period of time, and the United States can produce either 2 bushels of wheat or 3 bushels of corn in a set period of time. Which nation has a comparative advantage in producing corn
As per the given scenario, the Germany nation has a comparative advantage in producing corn.
What is comparative advantage?Comparative advantage is when one country can produce a good at a lower cost in terms of other goods.
As Germany can produce 6 bushels of corn and the united states can produce 3 bushels of corn in a set period, Germany has a comparative advantage in producing corn.
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Managers must recognize that motivating individuals today requires: Multiple select question. that all cultures and subcultures respond to the same methods familiarity with a variety of cultures from around the world that generations have different cultures understanding of different cultures within a country
Managers must realize that motivating individuals requires
understanding of different cultures within a country.familiarity with a variety of cultures from around the worldthat generations have different cultures.What is culture?This is a way of life of a group of people. The term has to do with the way that the people of the nation behave and what differentiates them from other people.
The culture around the work place is diverse due to the fact that the people are from various places in the world.
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In the project initiation phase, which document contains high-level details of the proposed project?
Answer:
Once the initiation phase has begun and you have been granted the go-ahead, you must develop your project charter, also known as the project initiation document (PID). The Project Charter legally permits the project's existence, delegated power to the Project Manager, and documented the high-level requirements, milestones, and success criteria. The project charter defines the project's goal and requirements. It contains information such as business requirements, major players and stakeholders, scope, objectives, and general aims.
Explanation:
The initiation phase includes all of the processes that must be completed before a project is approved and planning may begin. The idea is to define your project at a high level and connect it to the business problem you want to address. The project charter serves as a framework for defining project decisions and ensuring they are consistent with corporate objectives.
Some employees at a clothing manufacturer investigate pay rates on Salary and learn that the company has been paying them significantly more than the national average for their jobs. In this case, what is the most likely reason for this
In this case, the most likely reason for this is The employees will conclude that there must be regional differences in pay.
What is a Pay Difference?This refers to the discrepancy that exists when a person is paid a different amount to another person who is performing the same or similar work and can be affected by things like location, etc.
Hence, we can see that based on the fact that the employees of the cloth store make an investigation into their pay rates and find out that there is a price discrepancy that is higher than the national average, they would conclude that there must be regional differences in pay.
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