The debit to inventory reflects the cost of the timber that has been cut and is now ready for sale. The credit to timber depletion expense is necessary to reduce the value of the timber tract by the amount that has been harvested.
The journal entry that Saskatchewan Forestry Company would record if 10 percent of the total timber is cut and placed into inventory during the current year is as follows:
Debit Inventory $35,000 (10% of $350,000)
Credit Timber Depletion Expense $35,000
The debit to inventory reflects the cost of the timber that has been cut and is now ready for sale. The credit to timber depletion expense is necessary to reduce the value of the timber tract by the amount that has been harvested. This entry recognizes the decrease in the value of the asset as a result of the reduction in its size.
It is important to note that the company estimates that the timber tract will be depleted evenly over its 10-year useful life with no residual value. This means that the company will need to recognize the same amount of depletion expense each year, regardless of how much timber is actually harvested. The depletion expense is calculated as the cost of the timber tract ($350,000) divided by its estimated useful life (10 years), which equals $35,000 per year. This is the amount that will be recorded as depletion expense each year until the timber tract is fully depleted.
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which one of the following items is not part of the closed decision model? a.a fixed or relatively unchanging objective b.general disregard for environmental constraints c.a known set of relevant alternatives with corresponding outcomes. d.an outcome that meets a dynamic objective.
The answer is b. general disregard for environmental constraints. This item is not a part of closed decision model.
Following are instances of environmental constraints?Environmental limitations show both physical and social environmental aspects. Physical elements include things like gravity, the outside temperature, the weather, the landscape, auditory input, and other environmental characteristics that aren't normally task adaptations.
An instance of environmental restrictions in volleyball?Environmental limitations are aspects of my physical surroundings that can affect how I perform and make decisions. In volleyball, these elements may include the size of the court, the height of the net, and the behavior and physical traits of the teammates and rival players.
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What should you keep in mind when examining an income statement?
a) GAAP
b) Cash versus non-cash items
c) Asset composition
d) Time and costs
You should keep in mind when examining an income statement are a) GAAP, b) Cash versus non-cash items, and d) Time and costs.
When analyzing an income statement, it's crucial to consider the time period it covers, the expenses related to making money, the make-up of the assets that generate income, the distinctions between cash and non-cash items, and the generally accepted accounting principles (GAAP) that were used to prepare the statement.
The income statement's extraordinary items should also be taken into account, and any modifications to the accounting principles utilized to compile the statement should be noted.
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Yue Integrated Circuits, Inc. common stock currently pays a $1.50 annual dividend (D0). You expect Yue dividends to grow at a 10% annual rate for the next two years, and a 5% constant rate thereafter (after year two). Assume investors expect a 12% rate of return on Yue common stock. What is the price (value) forecast of the common stock at the end of year 2
Based on the dividends and the growth rate, we can infer that the value of the stock at the end of year 2 is $27.26
You can use the Gordon Growth Model to solve for this:
Value of stock = Next dividend / (Rate of return - growth rate)
Next dividend = Dividend in year 3:
= Current dividend x (1 + year 1 growth) x (1 + year 2 growth) x ( 1 + year 3 growth)
= 1.50 x (1 + 10%) + (1 + 10%) + (1 + 5%)
= $1.90575
Value of stock₂ = 1.90575 / (12% - 5%)
= $27.26
In conclusion, the value of the stock at the end of year 2 is $27.26
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The use of financial statement analysis, quality control procedures, and employee performance evaluations are all examples of A. Concurrent controls. B. Preliminary controls. C. Feedback controls. D. Feedforward controls.
The use of financial statement analysis, quality control procedures, and employee performance evaluations are all examples of feedforward controls. Option D
Feedforward controls are those implemented to prevent problems from occurring in the first place. Financial statement analysis can help identify potential financial issues before they become major problems.
Quality control procedures ensure that products or services meet predetermined standards, reducing the likelihood of defects or customer complaints. Employee performance evaluations help identify areas where employees may need additional training or support, improving their ability to perform their job duties effectively.
These types of controls are proactive, allowing organizations to take action before problems arise. In contrast, feedback controls are used after the fact to evaluate performance and make adjustments.
Concurrent controls are used during the process to monitor and correct performance, while preliminary controls are used before the process to ensure that everything is in place and ready to go.
In summary, the use of financial statement analysis, quality control procedures, and employee performance evaluations are important feedforward controls that can help organizations operate more efficiently and effectively. So Option D is correct.
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which of the following is not true about the requirements of an insurance company aml program? a the aml program must track customer complaints. b there must be an aml compliance officer with the authority to carry out the aml functions. c agents must be integrated into the aml program and receive training on the program. d the insurer must use a risk-based approach in developing the aml program.
The statement that is not true about the requirements of an insurance company AML (Anti-Money Laundering) program is option (a) - the AML program must track customer complaints.
While it is important for insurance companies to have procedures in place for handling and investigating customer complaints, tracking complaints is not specifically required by AML regulations. The other options are all true requirements of an AML program, including the appointment of a compliance officer, integration of agents, and use of a risk-based approach in program development. The purpose of an AML program is to prevent money laundering and terrorist financing by detecting and reporting suspicious activities.
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PROFIT/LOSS = TOTAL REVENUE - TOTAL COSTS
lan set up a taxi firm one month ago. He has calculated that his total monthly revenue was £2400.
He has added his costs together for the first month and they came to £2800. However, he spent
£1000 on a car for the business that he will not need to spend again.
1) What was his profit/loss for the month?
For the month it was €
1
2) Next month, what will his profit/loss be?
3) List 2 things that could happen that would increase his costs?
Answer:
What's the question? :) I'm an econ major btw.
Explanation:
17. Lewis signed a contract for the rights to all timber located on Nine Mile Mine. He agreed to pay $70 per thousand board feet ($70/mbf). As he began work, Nine Mile became convinced that Lewis lacked sufficient equipment to do the job well and forbade him to enter the land. Lewis sued. Nine Mile moved for summary judgment. The mine offered proof that the market value of the timber was exactly $70/mbf, and Lewis had no evidence to contradict Nine Mile. The evidence about market value proved decisive. What is the issue
What is business office what are they established
Answer:
A business office is one which is established by the individuals or government for the production and distributions of goods and services with a view of earning money by satisfying the consumers.
Explanation:
They are established by the industrial,trading and service businesses.
Allows companies to offer people personalized content based on there intresrt or shopping experience
Answer:
Personalized marketing
Explanation:
Personalized marketing allows companies to offer people personalized content based on their interests or shopping experience.
The prosecutor replies that the Bill of Rights does not protect you from state actions. Is the prosecutor correct? Why or why not
Answer:
I would say no, because the bill of rights refers to ALL Americans. I might be wrong tho.
Indicate what impact the following transactions would have on the accounting equation, Assets = Liabilities + Equity. Transaction impact table Impact 1 Impact 2 Paid monthly note payment to bank Sold inventory on account Bought supplies, to be paid for next month Received cash from sales this month Paid for inventory purchased on account last month
Answer:
The impact of the transactions on the accounting equation, Assets = Liabilities + Equity, is as follows:
Paid monthly note payment to bank:
Impact 1: Assets (Cash) decreases
Impact 2: Liabilities (Bank Loan) decreases
Sold inventory on account:
Impact 1: Assets (Accounts Receivable) increases
Impact 2: Equity (Revenue) increases
Bought supplies, to be paid for next month:
Impact 1: Assets (Supplies) increases
Impact 2: Liabilities (Accounts Payable) increases
Received cash from sales this month:
Impact 1: Assets (Cash) increases
Impact 2: Equity (Revenue) increases
Paid for inventory purchased on account last month:
Impact 1: Assets (Cash) decreases
Impact 2: Liabilities (Accounts Payable) decreases
It is important to note that for each transaction, one side of the equation must increase and the other side must decrease in order to keep the equation in balance.
Explanation:
which of the following would an economist classify as capital? A) a $100 traveler’s check B) a new deposit of natural gas C) a government savings bond D) a police car
Answer:A
Explanation:
During a hot summer, Blake’s house is extremely warm inside. In order to repair what needs to be fixed to make his house more comfortable, Blake should call a
heating and air conditioning mechanic.
boiler operator.
home appliance repairer.
mechanical door repairer.
To make his house more comfortable during a hot summer, Blake should call a heating and air conditioning mechanic. The primary reason is that the house being extremely warm suggests an issue with the cooling system, which is typically handled by HVAC professionals.
They have the expertise to diagnose and repair problems related to air conditioning units, ductwork, thermostat malfunctions, refrigerant leaks, or other issues impacting the cooling performance of the house.A boiler operator may not be the right choice as boilers are primarily used for heating purposes, not cooling.
Home appliance repairers generally specialize in fixing household appliances like refrigerators, ovens, or washing machines, which may not directly address the issue of an uncomfortably warm house. Similarly, a mechanical door repairer focuses on fixing issues related to doors and door mechanisms, which may not be relevant to cooling the house.
Therefore, calling a heating and air conditioning mechanic is the most appropriate choice for Blake to address the problem and make his house more comfortable during the hot summer.
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Answer:
home appliance repairer
Explanation:
Sue wants to work as a chemical engineer for either a large corporation or the government. What would you advise her to
do while she is earning her bachelor's degree to gain some real-world experience in the field of chemical engineering while still earning
college credits ?
a) Apply for a cooperative education experience, through her university, at a company or an agency that will provide her real work
experience in her field of study
b) Study hard and wait until she earns her degree to get experience
c) Take a job on campus working in the office typing papers for engineering professors
d) Take a part-time job working nights at a pharmacy
Answer:
A
Explanation: The most common reason tbh.
Answer: A
And just trust
In the U.S., shoe sizes are defined differently for men and women, but in Europe, both sexes use the same shoe size scale. The accompanying histogram shows the European shoe sizes of 269 male and female college students, converted from their reported U.S. shoe sizes. What might be the problem with either the mean or the median as a measure of center?
a. The distribution is bimodal, so it is more useful to report the modes than the mean or median.
b. The distribution does not have any modes, because it is uniform.
c. The distribution has one mode from 44 to 49. This is due to the students having noughly the same mean shoe size.
d. The distribution has one mode from 38 to 40. This is due to the students having noughly the same mean shoe size.
The problem with using the mean or median as a measure of center is that a) the distribution of the data is bimodal, indicating that there are two distinct groups of shoe sizes.
The histogram shows that one group has shoe sizes from 38 to 40, while the other group has shoe sizes from 44 to 49. This suggests that the two groups have roughly the same mean shoe size, but different distributions.
Therefore, the mean or median are not good measures of center because they do not accurately reflect the underlying distribution of the data. It would be more useful to report the modes instead, which represent the most frequent shoe sizes in the data.
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Which of the following is a characteristic of economic services:
A) tangible
B) freely available to everyone
C) useful
D) non-transferable
Answer:
useful
Explanation:
i got it from USA test prep
Money needed to expand for additional inventory, equipment, marketing cost, employees, etc. is known as which of the following? Competitive risk Market analysis Marketing Expansion capital
Answer:
Expansion capital
Explanation:
Expansion capital can be defined as the money that a company uses to expand itself and business. Expansion capital is always included in company balance sheets. Expansion capital is also known as growth capital.
Expansion or growth money usually covers additional inventory, equipment, marketing cost, employees, etc as seen in the question.
Cheers.
How do I make a MC server?
Install or update Minraft as the first step, Install or update Java in step two, Download the Server.jar file in step three, Mincraft Build a Server Folder in step four,
What is MC server?A Micraft server is a player- or company-owned multiplayer gaming server for the 2009 video game Minraft from Mojang Studios. Rather than referring to a single machine in this sense, the term "server" is sometimes used to refer to a network of connected servers.
Independently created, dependable Micraft community partners host servers, which offer multiplayer experiences. Every Server has its own distinctive features, like minigames that allow players to cooperate and compete with one another. Players can also access free things on the Server by participating in the game.
Thus, Fifth step: First startup, Restarting the server is step six, Build an automatic script in step seven.
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Even when economic indicators show that the economy is down, small businesses often thrive. Think of a small business in your community that would do well, even if people did not have a lot of extra money to spend, and explain the advantages it has over larger businesses.
Answer:
A drug store is a type of business that is likely to do well even in an economic recession.
This is because drug stores sell an essential good, that often has a high price, and that is needed by many people, specially those who suffer from chronic diseases.
In other words, people will likely reduce their consumption of many other goods before reducing their consumption of prescription drugs.
can you guys make me instagram famous? plz i need help
Answer:
sis what
Explanation:
make a public account post good pics ✋put a lot of hastagstag ppltas it
Determine the fixed assets to net worth ratio if the net fixed
assets is $9,705 and the total equity is $61,724.
when the net fixed assets is 9,705 and the total equity is 61,724
The fixed assets to net worth ratio can be calculated by dividing the total fixed assets by the net worth.
The formula for fixed assets to net worth ratio is:
Fixed Assets to Net Worth Ratio = Fixed Assets / Net WorthGiven that the net fixed assets is $9,705 and the total equity is 61,724.
Therefore, the fixed assets to net worth ratio can be calculated as follows:
Fixed Assets to Net Worth Ratio = Fixed Assets / Net Worth= 9,705 / 61,724= 0.15739 or 15.739%
Thus, the fixed assets to net worth ratio is 15.739%
when the net fixed assets is 9,705 and the total equity is $61,724.
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Why do most businesses fail in their first year?
A. Lack of trained employees B. Lack of planning
C. Poor choice of location
D. Lack of interest
The reason that most businesses fail in their first year is B. Lack of planning.
What is a business plan?A business plan has been defined as is a detailed formal written document, which startups and other businesses use to define their business goals, the methods for attaining those goals (from the marketing, financial, and operational point of view), and the time-frame for their achievement.
It may not be lack of trained employees, poor choice of location, or lack of interest, but it usually starts with lack of planning.
Thus, the reason for business failures in the first year is Option B.
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What is a major function of both retail and business banks?
A. reducing the overall money supply
B. regulating payday and title pawn lenders
C. providing checking and savings accounts
D. offering financial services without making profit
Answer:
C.
Explanation:
Retail banking is a banking system that deals directly with retail consumers. Retail banking is responsible for providing financial aid to the general population. The major function of retail banking includes providing financial aid, checking and savings accounts.
Business banks, on the other hand, are also a part of the banking industry. It specifically deals with corporates and businesses, ranging from small-sized businesses to large-sized corporates. The major function of corporate banking or business banking is also to provide financial aid, checking and savings accounts.
Therefore, option C is the correct answer.
Mike, an 18 year old male chose not to go to post-secondary school, but found a job working for a local lawn care business. Mike's employer is a seasonal employer earns $8 an hour and works 40 hours per week. His employer does not provide any type of health insurance coverage. Mike has purchased a nice used truck upon graduation and currently makes payments on the vehicle. Mike has an apartment and lives with three other buddies. Mike was playing a game of pick-up basketball and injured his ankle. He has no insurance and will be unable to work for the next 6 weeks. What do we need to consider in this scenario and what are Mike's options?
Good evening! Did you eat today? Did you drink water today? Did you get outside for some fresh air or even anytime to chill? Did you make sure you are healthy? If you answer no to any of these questions.. please get some to food, water, fresh air or even time to chill. Please take care of yourself! Bye! :)
Answer:
I ate an egg sandwich. I drank some water. I went outside for a short walk.
Explanation:
Thanks for asking :)
a current liability to the state arises when a business sells an item and collects a state sales tax on it. group of answer choices a) true. b) false.
This statement "a current liability to the state arises when a business sells an item and collects a state sales tax on it" is option a) True.
When a business sells an item and collects a state sales tax on it, a current liability to the state arises. State sales tax is a tax imposed by the state government on the sale of goods and services. As a business collects sales tax from its customers, it becomes responsible for remitting that tax to the state. However, until the tax is remitted to the state, it represents a liability for the business.
This liability is classified as a current liability because it is expected to be settled within a relatively short period, usually within a year. The business is obligated to remit the collected sales tax to the state government according to the applicable tax laws and regulations.
When a business sells an item and collects a state sales tax on it, it incurs a current liability to the state. This reflects the obligation of the business to remit the collected tax to the state government in a timely manner. Proper management and accounting of these liabilities are essential for businesses to ensure compliance with tax regulations and maintain accurate financial records.
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Marketing issues such as advertising, image, and promotion are important to quality because:
A. the intangible attributes of a product (including any accompanying service) may not be defined by the consumer.
B. they make the product seem more valuable than it really is.
C. they raise expenses and therefore decrease profitability.
D. they define for consumers the tangible elements of a service.
E. they educate consumers on how to use the product.
(A.) the intangible attributes of a product (including any accompanying service) may not be defined by the consumer. Because OPTION A, marketing concerns including promotion, advertising are crucial to quality
Advertising refers to the methods used to draw attention to a good or service. In order to attract consumers' attention, advertising seeks to highlight a good or service. It is often used to market a particular product or service, although there are many other applications as well, with commercial advertising being the most popular. Through "branding," which links a product name or image with particular traits in customers' minds, commercial advertising frequently aim to boost consumption of their goods or services. Direct-response advertising, on the other hand, is the term used to describe advertisements that aim to prompt a quick sale. Political parties and interest groups are examples of non-commercial organizations that market more than goods or services for consumers.
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By law, an accountant must hold a CPA designation in order to
?
Answer:
The CPA designation isn't required to work in corporate accounting or for private companies. However, public accountants—which are individuals working for a firm, such as Deloitte or Ernst & Young, that provides accounting and tax-related services to businesses—must hold a CPA designation.
Explanation:
Answer:
Prepare audited or reviewed financial statements.
Hope this helps :)
The Clean ’n Green recycling company identified 150 apartment complexes (worth~$500K annually in potential contracts) that don’t offer recycling for tenants even though tenants have requested the service. A recent change in city laws mandates that large apartment complexes must recycle. The city is offering a subsidy to cover the first two years of a recycling service to ensure the law can be met. Clean ’n Green has not contacted the complex owners yet. Which one of the criteria for defining a potential market is missing from this analysis?
Answer:
an organization has the ability to pay for the service
Explanation:
Potential markets are defined as business opportunities that can be captured in the future. For example of a company plans to expand its product offerings to a new segment of customers, the new set of customers are it's potential market.
Criteria for potential market includes: substantial number of customers, ability to pay for a service, identifiable and measurable, and accessibility.
In this scenario Clean ’n Green recycling don’t offer recycling for tenants even though tenants have requested the service, and recent change in city laws mandates that large apartment complexes must recycle.
The organisation is not meeting the criteria of having the ability to pay for the service.
In which countries do people prefer discussing business during meals?