an important diffrence between accounting and other business functions, such as marketing adn management, is that

The recording, classification, summarising, and interpreting of financial events and transactions to give management and other interested parties.

The information they need to make informed decisions is a key distinction between accounting and other business functions, such as marketing and management. The goal of marketing is to draw attention from the outside world to a business, its goods or services, and to generate sales as a result. Accounting, on the other hand, is concerned with monitoring, documenting, and creating financial statements based on a company's internal financial characteristics. Accounting documents a company's historical operations, whereas finance supports decisions about the firm's future.

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A company's old machine that cost $40,000 and had accumulated depreciation of $22,000 was traded in on a new machine having an estimated 20-year life with an invoice price of $45,000. The company also paid $33,000 cash, along with its old machine to acquire the new machine. If this transaction has commercial substance, the new machine should be recorded at:

Abigail does not feel that the company is paying her enough money to live on, despite the fact that she works hard. The quality of this_____________ (lack of belongingness, motivator, lack of power, hygiene factor) will make her dissatisfied with her work, according to Frederick Herzberg.

Journalize the entry for Hot Rod Service using the following data from the payroll register:

Regular earnings $16,370
Overtime earnings 903
Federal income tax withheld 2,268
Social Security tax withheld 827
Medicare tax withheld 194
Pension contribution from employees 711
Health insurance premiums 807

If an amount box does not require an entry, leave it blank.

Date Description Post Ref. Debit Credit

Just before the year ended, a company offered to buy 4,120 units for $14.95 each. X Company had the capacity to produce the additional 4,120 units, but because the special order product was slightly different than the regular product, direct material costs were expected to increase to $2.40 per unit, and some special equipment would have to be rented for a total of $19,000.

Sales $1,225,500
Cost of goods sold 521,805
Gross margin $703,695
Selling and administrative costs 153,510
Profit $550,185

Fixed cost of goods sold for the year was $130,935, and fixed selling and administrative costs were $72,885. The special order product has some unique features that will require additional material costs of $0.90 per unit and the rental of special equipment for $3,000. Assume the following fact: regular variable selling and administrative costs include sales commissions equal to 4% of sales, but there will be no sales commissions on the special order. This will cause the special order profit to increase by:__________

The outstanding checks total_________.

1. $158.53
2. $246.53
3. $48.00
4. $914.47

Suppose the economy of the large country of Hendrix is currently experiencing expansion as a result of short run business cycle fluctuations. Hendrix has a trade deficit. The items below are possible effects of this expansion on the trade balance. Please sort them into boxes below as appropriate. If they do not fit into either box (e.g. not likely to occur in an expansion), leave them unsorted.
Likely to occur in an expansion and increase the trade deficit
Likely to occur in an expansion and decrease the trade deficit
private savings decrease domestic private investment increases private savings increase government borrowing decreases imports increase government borrowing increases domestic private investment decreases imports decrease

Assume there is an economy with a single bank, and the central bank sets the reserve requirement ratio at 5%. Assume also that the only bank had no transactions (i.e., no loans, reserves, or deposits) prior to an individual who deposits $2000 of currency with the bank.
a. As a result of this deposit, calculate the amount of required reserves, actual reserves, and excess reserves.
b. After the bank has issued the maximum amount of loans, what will be the total amount of loans, deposits, and money in the economy?
c. What is the size of the money multiplier for this economy?

Schweitzer realized that in many cases individuals could only accomplish direct human service in collaboration with official organization. What he wanted was: to help fund such organizations. to be a leader in such organizations. an absolutely personal and independent activity. to increase the number of official organizations dedicated to direct human service.

Below are the transactions and adjustments that occurred during the first year of operations at Kissick Co

a. Issued 198,000 shares of $6-par-value common stock for $1,188,000 in cash.
b. Borrowed $550,000 from Oglesby National Bank and signed a 11% note due in three years.
c. Incurred and paid $380,000 in salaries for the year.
d. Purchased $650,000 of merchandise inventory on account during the year.
e. Sold inventory costing $580,000 for a total of $910,000, all on credit.
f. Paid rent of $220,000 on the sales facilities during the first 11 months of the year.
g. Purchased $190,000 of store equipment, paying $51,000 in cash and agreeing to pay the difference within 90 days.
h. Paid the entire $139,000 owed for store equipment and $600,000 of the amount due to suppliers for credit purchases previously recorded.
i. Incurred and paid utilities expense of $36,000 during the year.
j. Collected $845,000 in cash from customers during the year for credit sales previously recorded.
k. At year-end, accrued $60,500 of interest on the note due to Oglesby National Bank.
l. At year-end, accrued $20,000 of past-due December rent on the sales facilities.

Required:
Prepare an income statement (ignoring income taxes) for Kissick Co.'s first year of operations and a balance sheet as of the end of the year.

Using Firm Guidance to Research a Revenue Question
•You are an accountant working for Hotel Co. Your supervisor has asked you to research what amount of revenue Hotel Co. should recognize for transactions booked by customers on Expedia.com.
•Expedia generally collects the full transaction price from the customer, then withholds a small fee (say, $10) from each transaction and remits the balance to Hotel Co.
•Should Hotel Co. record the gross transaction fee or only the net amount it receives from Expedia.com? Use nonauthoritative firm guidance to assist in your response.
•Start off with the codifications (606?), then move to the non-auth. sources.

Dinnertime
A professor is planning an informal gathering for 100 or so of his closest friends. The project breaks down as follows:
Activity Time Predecessor
Call planner 12
Book caterer 10
Hire quartet 9 Call planner
Schedule cleaning crew 15 Call planner
Stock wine cellar 7 Book caterer
Hire valets 8 Schedule cleaning crew, Stock wine cellar
Schedule butler overtime 13 Hire quartet, Hire valets
1. Refer to Table I, Which of these is not a critical path activity?
1) schedule cleaning crew
2) hire quartet
3) hire valets
4) schedule butler
2. Refer to Table I, What is the slack time for the Stock wine cellar activity?
1) 14
2) 8
3) 10
4) 12
3. Refer to Table I, What is the fastest this project can be completed?
1) 38
2) 48
3) 34
4) 44

An office building is expected to create operating cash flows of $30,500 a year for three years, based on tenants' rental income. The purchase of the fixed assets for this building will cost $63,000. These assets will have no value at the end of the project. An additional $2,000 of net working capital will be required throughout the life of the project. Calculate the net present value of this project if the required rate of return is 14 percent

Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $63,000, and it estimates that 5% will be uncollectible. Prepare the year-end adjusting entry to record bad debts expense under the assumption that the Allowance for Doubtful Accounts has: (a) a $1,071 credit balance before the adjustment. (b) a $315 debit balance before the adjustment.

Areas of land are divided by appropriate authorities into zones within which various uses are permitted. Thus, zoning is a technique of land-use planning as a tool of urban planning used by local governments in most developed countries. Because of the importance of zoning and regulating the manner of property use, which of the following statements is most accurate?
a. changing zoning to allow some landowner to use property other than what is permitted for that land is 'spot zoning' and unlawful in most states
b. it is almost impossible to obtain a variance in zoning
c. variances were rendered unlawful pursuant to the federal civil rights laws because they were used to discriminate against people unlawfully
d. it is possible to obtain a variance to use property for purposes other than how the property is zoned, but in granting permission for such a special use the governing entity granting such permission must use its discretion to insure compatible use and that zoning scheme is not disrupted

Journalize the entries to record the following:

a. Check No. 12-375 is issued to establish a petty cash fund of $500.
b. The amount of cash in the petty cash fund is now $40. Check No. 12-476 is issued to replenish the fund, based on the following summary of petty cash receipts: office supplies, $212; miscellaneous selling expense, $156; miscellaneous administrative expense, $61. (Because the amount of the check to replenish the fund plus the balance in the fund do not equal $500, record the discrepancy in the cash short and over account.)

Required:
1. Journalize the entry to establish the petty cash fund.
2. Journalize the entry to replenish the petty cash fund.

Given the following information, calculate the going-in capitalization rate for the following apartment complex. In your calculations, assume no miscellaneous income and above-the-line treatment of capital expenditures.

Number of apartment units: 15
Monthly rent per unit: $3,000
Vacancy and collection loss: 10% of potential gross income
Operating expenses: 5% of effective gross income
Capital expenditures: 10% of effective gross income
Acquisition price: $3,420,000

a. 0.81%
b. 1.01%
c. 13.50%
d. 15.79%
e. 12.08%

William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2020 AGI before the IRA contribution deduction is $66,000 (all earned income). (Leave no answer blank. Enter zero if applicable.) a. If he does not participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2020?

Freda's Florist reported the following before-tax income statement items for the year ended December 31, 2021: Operating income $ 269,000 Income on discontinued operations 55,000 All income statement items are subject to a 25% income tax rate. In its 2021 income statement, Freda's separately stated income tax expense and total income tax expense would be:

Wildhorse Co. just began business and made the following four inventory purchases in June: June 1 168 units $1008 June 10 224 units 1568 June 15 224 units 1792 June 28 168 units 1512 $5880 A physical count of merchandise inventory on June 30 reveals that there are 224 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for June is

You expect Technomess Company common stock to pay a dividend of $2.40 one year from now. You can buy the stock now for $52, and you plan to sell the stock at the end of one year. Given the risk of the stock, your required rate of return is 16%. For what price would you need to sell your stock in one year in order to earn your required rate of return

What is an example of a 'Sunk cost" ? *

A the price of food when cooking a meal

B. the price of a video game when buying a birthday present

C. the price of last month's car repairs when getting your car fixed

D the price of college when getting a job​

The following is the sales budget for Coore, Inc., for the first quarter of 2019: JanuaryFebruaryMarch Sales budget$135,000$152,000$167,000 Credit sales are collected as follows: 60 percent in the month of the sale 30 percent in the month after the sale 10 percent in the second month after the sale The accounts receivable balance at the end of the previous quarter was $96,000 ($78,800 of which was uncollected December sales). a. Compute the sales for November. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b.Compute the sales for December. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) c.Compute the cash collections from sales for each month from January through March. (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)

Suppose that there are two industries, A and B. There are five firms in industry A with sales at $5 million, $2 million, $1 million, $1 million, and $1 million, respectively. There are four firms in industry B with equal sales of $2.5 million for each firm. The HHI for industry A is:

Select the correct word(s) from the drop down menu to finish the following sentences:
Fish in the ocean can be caught by anyone, and it is difficult to prevent people from fishing, in this sense, fish in the oceans are_____. If I catch a fish, that means there is one less fish in the sea for someone else to catch. Therefore, fish are_____. Considering those two characteristics, fish in the ocean are____.

Ultimo Co. operates three production departments as profit centers. The following information is available for its most recent year. Department 1's contribution to overhead as a percent of sales is:
Dept. Sales Cost of Goods Sold Direct Expenses Indirect Expenses
1 1,080,000 708,000 102,000 88,000
2 480,000 158,000 48,000 108,000
3 780,000 308,000 158,000 28,000
a) 56.7%
b) 25.0%
c) 34.7%
d) 34.0%
e) 61.6%

According to the literature on organizational conflict, constructive conflict Question 1 options: tends to produce beneficial outcomes, particularly better decision making. is the main source of conflict in organizations. is the only conflict management style that has high assertiveness and low cooperativeness. is one of the most common outcomes of organizational conflict.

TB MC Qu. 10-149 (Algo) ABC Corporation makes a product ... ABC Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct materials 7.7 grams $ 2.30 per gram Direct labor 0.5 hours $ 23.00 per hour Variable overhead 0.5 hours $ 7.30 per hour The company produced 5,500 units in January using 39,610 grams of direct material and 2,410 direct labor-hours. During the month, the company purchased 44,700 grams of the direct material at $2.00 per gram. The actual direct labor rate was $22.30 per hour and the actual variable overhead rate was $7.10 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The variable overhead rate variance for January is:

Superior Company has provided you with the following information before any year-end adjustments: Net credit sales are $122,500. Historical percentage of credit losses is 4%. Allowance for doubtful accounts has a credit balance of $650. Accounts receivables ending balance is $52,000. What is the estimated bad debt expense using the percentage of credit sales method

how to use standard deviation, I don't really understand how to calculate and use the formula, someone can please give me an example with formula it would be great thank you so much. 

What is the basic economic problem that happens because people have unlimited wants but resources are limited? *

A opportunity cost

B sunk cost

C needs


D scarcity​