If common stock is issued for an amount greater than par value, the excess should be credited to Group of answer choices Retained Earnings. Cash. Legal Capital. Paid-in Capital in Excess of Par Value.
The excess of would be credited to Paid-in Capital if the common stock is issued for an amount greater than par value.
Any stock issued in exchange for property is recorded at the fair market value of the stock/asset received.
Hence, the excess of would be credited to Paid-in Capital if the common stock is issued for an amount greater than par value.Therefore, the Option B is correct.
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One consumer protection agency that can take legal action against
companies that violate consumer rights is the
A. Consumer Financial Protection Bureau
B. Robinson-Patman Administration
ОО
C. Better Business Bureau
D. Food and Drug Administration
Answer: CFPB, or FTC.
Explanation: FDA does nothing for consumer rights. BBB is mainly for reveiws, and treatment of consumers. R-PA is to stop price changing.
One consumer protection agency that can sue, the Consumer Financial Protection Bureau. Option A is correct.
What is the role of Consumer Financial Protection Bureau?The Consumer Financial Protection Bureau is a mid-20th organization that integrates and specifies Federal consumer financial law and clear correlation, clear, and competitive marketplace for consumer financial products.
Therefore, option A is correct.
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Fred, a software engineer, is in charge of scrutinizing electronic communication patterns as part of his role as leader of a virtual team at work. Fred’s role fulfills which practice of leading virtual teams?
Answer:
Monitoring progress and rewards
Victor Mineli, the new controller of Blossom Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings:Type ofAsset DateAcquired Cost AccumulatedDepreciation,Jan. 1, 2017 Useful Life(in years) Old Useful Life(in years) Proposed Salvage ValueOld Salvage ValueProposedBuilding Jan. 1, 2009 $700,000 $129,900 40 48 $50,500 $35,100Warehouse Jan. 1, 2012 115,000 22,100 25 20 4,500 3,000All assets are depreciated by the straight-line method. Blossom Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remaining life.)(a) Compute the revised annual depreciation on each asset in 2017. (Round answers to 0 decimal places, e.g. 125.)Building WarehouseRevised annual depreciation $ _____ $ _____
a. Based on the information given the revised depreciation is:
Building $1,250
Warehouse $5,993
b. Debit Depreciation expense $13,375
Credit Accumulated depreciation-Building $13,375
a. Victor Mineli Revised depreciation
Revised depreciation for Building
Building= ($700,000-$129,900-$35,100)/40
Building= $535,000/40
Building=$13,375
Revised depreciation for Warehouse
Warehouse=($115,000-$22,100-$3,000)/15
Warehouse =$89,900/15
Warehouse=$5,993
b. Journal entry
Debit Depreciation expense $13,375
Credit Accumulated depreciation-Building $13,375
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The type of business risk that refers to a possible risk from a business move is called
O compliance risk
O operational risk
O strategic risk
O financial risk
Answer: The answer is Strategic risk
Explanation:
Edge 2022
Place the six steps of the accounting cycle in the correct order. Rank the options below.
a. Prepare financial statements.open choices for ranking
b. Analyze financial statements.open choices for ranking
c. Take a trial balance.open choices for ranking
d. Transfer (post) journal entries to ledger.open choices for ranking
e. Record transactions in journals.open choices for ranking
f. Analyze source documents (sales slips, travel records, etc.).
Considering the steps listed in the question, the six steps of the accounting cycle in the correct order is option F => E => D => C => A => B.
This is entirely written below for better understanding.
First step: (F) Analyze source documents (sales slips, travel records, etc.). -- this is known as analyzing cycle.
Second step: (E) Record transactions in journals. -- this is known as recording cycle
Third step: (D) Transfer (post) journal entries to the ledger; -- this is known as classifying cycle.
Fourth step: (C) Take a trial balance; -- this is known as the summarizing cycle.
Fifth step: (A) Prepare financial statements; -- this is known as the reporting cycle.
Sixth step: (B) Analyze financial statements -- this is known as the interpretation cycle.
Hence, in this case, it is concluded that the correct answer is "option F => E => D => C => A => B."
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3) The promotional tactics employed by Red Bull are evidence of ______________________________. a sales promotion b a push strategy c socially responsible marketing d personal selling e a pull strategy
The promotional tactics which are employed by Red Bull are evidence of pull strategy.
In marketing, the pull strategy is a strategy employed by a company to bring customer to them rather than pushing its product on the customer.
The pull strategy entails strategy which makes customers very excited about the product and to tell their relatives about its.
The promotional tactics employed by Red Bull is one which tries to get press attention for their activities.
Therefore, in conclusion, the Option E is correct because it is very evident of been used by Red Bull as its main promotional tactics.
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Wesley Company makes bowling balls and uses the total cost method in setting product prices. Its costs for producing 10,000 bowling balls follow. The company targets a 12.5% markup on total cost. The dollar markup per unit is:
The dollar markup per unit is $18.25 per unit
Total cost per unit = Direct materials per unit + Direct labor per unit + Variable overhead per unit + Variable selling general and administrative per unit + Fixed overhead per unit + Fixed selling general and administrative overhead per unit
Total cost per unit = $63 + $13.8 + $23 + $3.8 + ($222000/10000) + ($202000/10000)
Total cost per unit = $63 + $13.80 + $23 + $3.80 + $22.2 + $20.2
Total cost per unit = $146 per unit
Dollar markup per unit = Total cost per unit × Markup% on total cost
Dollar markup per unit = $146 * 12.5%
Dollar markup per unit = $18.25 per unit
Therefore, the dollar markup per unit is $18.25 per unit
Missing options are "Direct materials $63 Overhead $222,000 Direct labor $13.80 Selling, general, and administrative $202,000 Overhead $23.00 Selling, general, and administrative $3.80"
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Rita is a self-employed taxpayer who turns 39 years old at the end of the year (2021). In 2021, her net Schedule C income was $296,000. This was her only source of income. This year, Rita is considering setting up a retirement plan. What is the maximum amount Rita may contribute to the self-employed plan in each of the following situations
The maximum contribution that Rita can make to SEP-IRA is $55,000
A SEP IRA is a term to refer to an individual retirement plan used in the United States. This plan establishes a maximum limit each year, in the case of 2018 it had a maximum contribution limit of 25% of the annual net salary of $ 55,000.
Based on the above, Rita could make a maximum contribution to the SEP-IRA of $ 55,000 since 25% of her salary ($ 296,000) is $ 74,000.
Note: This question is incomplete because there is some information missing. Here is the complete information.
A. Set up a SEP IRA account. Maximum contribution _______________?
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Which of the following refers to a unit of two or more people who interact and coordinate their work to accomplish a common goal to which they are committed and hold themselves mutually accountable?
Answer:
a team
Explanation:
The vice president of finance at Adventure Park, an amusement park, disseminated a new five-year strategic plan to the merchandise, attractions, and operations directors. This is an example of ________ communication.
The scenario of the Vice president disseminating the strategic plan is an example of Downward communication.
In channel of communication, the Downward communication refers to the procedure where information or command circulates in the organization's from the upper level of hierarchy to the lower level.
Here, the Vice President which is ranked top is disseminating the new 5-year strategic plan to the directors.
Therefore, the information flow from the Vice-president to the Directors is an example of Downward communication.
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The A - B - C rule stands for all business consolidated rule true or false?
Answer:
FALSE!
Explanation:
Tamika is a manager at Sleeveless Clothes, Inc. Recently, she was assigned a work team. She is in charge of the team, and it consists of the subordinates under her authority. This is an example of a __________ team.
A. horizontal
B. functional
C. self-managed
D. special-purpose
E. social
Answer:
The answer is b: functional
Answer:
B. functional
Explanation:
Tamika is a manager at Sleeveless Clothes, Inc. Recently, she was assigned a work team. She is in charge of the team, and it consists of the subordinates under her authority. This is an example of a functional team.
1. Before there was a federal income tax, what taxes did Americans have to pay?
2. Explain why tariffs are considered regressive taxes.
3. Describe the first institution of the income tax in the United States, the reason behind it, and what happened to it.
4. Even though the amendment that allowed income tax was passed again in 1913, what events led to its being enforced among all Americans?
5. How did the government try to influence citizen’s views of paying income tax? Would this have worked for you?
6. How can the government drive their policies using income tax?
Answer:
1.local property taxes and tariffs
2.tax applies equally to everyone
3.The system of tax began in America in the year 1861, this was during the civil war, where the Congress passed an Act that included a tax on personal incomes in order to meet up war expenses.
4. The Revenue Act of 1913
5.As in the Civil War, Congress turned to the income tax to quickly raise large amounts of revenue. In 1917, Congress lowered the standard exemption to $1,000 for individuals thus expanding the taxpayer pool. At the same time, the lawmakers increased the base tax rate from 1 percent to 2 percent.
6.when we according rule of tax now the citizen buying the tax the government can drive any purpose
Explanation:
Dale's work team is beginning to resolve its conflicts, and consensus is developing on such things as members' roles. Dale's team is in which stage of team development?
A) Norming B) Forming C) Storming D) Performing E) Reforming
Answer:
A) Norming
Explanation:
Suppose people cannot tell for sure whether they will fall ill in any given year. High-risk people correctly perceive their chance of falling ill in a year is 30 percent, and low-risk people correctly perceive that their chance of falling ill is 10 percent. Both high-risk and low-risk people have to pay $10,000 in medical expenses if they fall ill, and nothing if they remain healthy.a. What are the expected annual medical expenses of a high-risk person?$ per yearb. What are the expected annual medical expenses of a low-risk person?$ per yearc. Suppose insurance companies cannot tell whether someone is high-risk or low-risk. They only know that half of all people are high-risk, and half of all people are low-risk. So, they offer a health insurance policy that costs $2,000 per year in exchange for covering all of a person's medical expenses should they fall ill. If high-risk people, and low-risk people are risk-neutral, then who will purchase this insurance policy? Will the insurance company be able to stay in business if it continues to charge $2,000 per year? Briefly explain.(Click to select) Only low-risk people or Neither high-risk nor low-risk people or Only high-risk people or Both high-risk and low-risk people will want to purchase the insurance policy.The insurance company (Click to select) will not or will be able to stay in business because on average the company will (Click to select) break even or pay less to each customer than the revenue it receives from each customer or pay more to each customer than the revenue it receives from each customer .
The expected annual medical expenses of a high-risk person is $3000 per year while that of a low-risk person is $1000 per year.
The expected annual medical expenses of a high-risk person will be calculated as:
= Probability of falling ill × Expenses in case of illness
= 30% × $10000
= 0.3 × $10000
= $3000
The expected annual medical expenses of a low-risk person will be calculated as:
= Probability of falling ill × Expenses in case of illness
= 10% × $10000
= 0.1 × $10000
= $1000
It should be noted that in a situation where the individuals are risk neutral, the low-risk persons will not buy insurance as only the high-risk individuals will be expected to buy insurance.
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April 1 Nozomi invested $30,000 cash and computer equipment worth $20,000 in the company in exchange for common stock.
2 The company rented furnished office space by paying $1,800 cash for the first month's (April) rent.
3 The company purchased $1,000 of office supplies for cash.
10 The company paid $2,400 cash for the premium on a 12-month insurance policy. Coverage begins on April 11.
14 The company paid $1,600 cash for two weeks' salaries earned by employees.
24 The company collected $8,000 cash for commissions revenue.
28 The company paid $1,600 cash for two weeks' salaries earned by employees.
29 The company paid $350 cash for minor repairs to the company's computer.
30 The company paid $750 cash for this month's telephone bill.
30 The company paid $1,500 cash in dividends.
Required:
Journalize the entries.
Answer:
Hybrid bikes
Explanation:
In the late 1990s the U.S. federal government ran a budget surplus for the first time in decades. This meant that Choose one: A. U.S. government debt was reduced but not eliminated. B. U.S. government debt stayed constant over these years. C. U.S. government debt was eliminated. D. U.S. government debt increased at a slower rate than it had done previously.
The fact that the U.S. had a federal budget surplus meant that A. U.S. government debt was reduced but not eliminated.
When a country has a budget surplus, it means that:
The country had enough tax revenue to take care of its obligations The country did not have to borrow extra funding The country was able to pay off some debtWith the U.S. having a budget surplus, we can conclude that the U.S. was not only able to avoid borrowing more money, they were able to pay off some.
This means that they reduced the debt even though they did not eliminate it.
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_____________ are the most diversified of depository institutions and ______________ are on average the largest depository institutions. Multiple Choice Credit unions; commercial banks Commercial banks; commercial banks Banks; savings institutions Credit unions; credit unions Savings institutions; commercial banks
Considering the banking analysis, the Commercial banks are the most diversified of depository institutions, and Commercial banks are, on average, the most extensive depository institutions.
This is based on the banking and finance analysis, which revealed the commercial banks are the most diversified depository institutions and, at the same time, the largest depository.
Commercial banks perform several functions or roles in the economy, which include the following:
Collection of cheques;Mobilization of Savings;Bills and drafts; Receipt of interests and dividends from a customer's investments; Paying interest and installments of loans or insurance premiums, etc.Hence, in this case, it is concluded that the correct answer is option B. "Commercial banks; commercial banks."
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Malcolm Bagget has been working as a production employee for the last three years. His firm is currently undergoing a change in structure with a new management group and the production department is being restructured. Each production employee will be assigned to a small, six-member production team. Malcolm is looking forward to the extensive cross-training that has been promised and is looking forward to enjoying more power and discretion than he has had in the past. In addition to skill training, Malcolm is receiving management training in team building.
One of Malcolm's coworkers, Danny Newcomber, reduces tension in the group by telling jokes and diffusing emotions. Additionally, Danny can be counted on to energize the team by stimulating the members into action when their interest drops. Which of the following roles is Danny demonstrating?
Answer:
task specialist and socioemotional roles
Explanation:
A measure of a company's solvency is the asset turnover ratio. acid-test ratio. current ratio. times interest earned.
Answer:times interest earned
Explanation:
A measure of a company's solvency is the times interest earned. Thus, option (d) is correct.
What is solvency?
Solvency is a term used to describe a person's or organization's financial stability, usually in reference to whether or not the party has more assets than debt.
The ability of a company to pay its long-term debts and obligations is evaluated using a solvency ratio. The equity ratio, the debt-to-assets ratio, and the interest coverage ratio are the three primary solvency ratios.
As a result, option (d) is correct.
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Which of the following attributes of a competitor is important in strategic planning?
How do our competitors define their target markets?
Are our competitors missing any potential markets?
How do our competitors meet the needs of their target markets?
All of the above
Which of these factors mostly greatly impacts business cycles
1. Age
2. Science
3. Media
4. Economy
Please classify the source of barriers to entry described in each scenario below. ownership of a key input economies of scale government-imposed
a. There are a limited number of licenses for taxi drivers in NYC. ownership of a key input economies of scale government-imposed
b. Drug companies obtain patents so that they can recover research and development costs by the exclusive sale of the drug for some number of years. ownership of a key input economies of scale government-imposed
c. Carribean Cruz owns the only swimmable beach on an exclusive island in the Bahamas
d. The government establishes a quota on how much foreign oil can be imported
e. It is very expensive to build an amusement park, but not that expensive to admit an additional customerf. Building a brewery is a high start up cost operationg. The governemnt established a tariff on tear
The source of barriers to the scenarios described will be:
Government imposed:
There are a limited number of licenses for taxi drivers in NYC.Drug companies obtain patents so that they can recover research and development costs by the exclusive sale of the drug for some number of years. The government established a tariff on tea.Ownership of a key input:
Carribbean Cruz owns the only swimmable beach on an exclusive island in the Bahamas.The government establishes a quota on how much foreign oil can be imported.Economies of scale:
It is very expensive to build an amusement park, but not that expensive to admit an additional customer. Building a brewery is a high start-up cost operation.It should be noted that government-imposed barriers are the barriers that can be in form of patents, licensing, tariffs, etc.
The ownership of key input is when the production of a good requires particular input, therefore, controlling the input can be a barrier to entry.
Economies of scale is when the long run average variable cost of a firm falls as there is an increase in output.
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The __________ style for handling conflict works best when maintaining harmony is especially important.
Answer:
accommodating
Explanation:
The style for handling conflict works best when maintaining harmony is especially important is called Accommodating style.
What is accommodating style?
An accommodating personality sacrifices one's own interests or desires in favor of those of others. You would prioritize the problems of others before his own. This approach frequently occurs when people give in or are convinced to give in.
Multiple teams, labor-intensive work, and tight deadlines all contribute to conflict in the construction industry. The accommodating conflict management style is one of five approaches to dealing with disagreement and keeping your project on schedule.
Therefore, it can be concluded that accommodating style of conflict is the correct option for the given blank.
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Which type of savings account offers the best interest rates?
A. Savings account
B. Checking account
C. Money market account
D. Certificate of deposit
Certificate of deposit is a type of savings account offers the best interest rates. It has the highest rate of interest among all the savings accounts, but they have limited funds.
What is Certificate of deposit?Certificate of deposit is the saving account that holds the fixed amount of money for a particular fixed time like six months, 5 years and according to that back pay the interest.
When a person redeem or take out the money from certificate of deposits they get the whole amount with the interest.
Thus, option D is correct.
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Suppose the government collected $3.2 trillion in tax revenues and spent $3.8 trillion, and discretionary spending was $1.5 trillion. For the government to fully balance the budget this year, how much discretionary spending needs to be cut
Answer:
40%
Explanation:
In general, which two characteristics define a "small" business? (Choose two)
оооо
Answer:
Small business is defined as a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business.
Which of the following may be used to
govern carriage of goods by sea?
a Hamburg, Hague protocol 1955, Hague - Visby
b Hague, Protocol 1955, Warsaw
c Hamburg, Hague, Hague - Visby, Warsaw
what's the difference between a tax and a levy?
