Clean123 Inc. performs $1,000 of cleaning services for a customer. After 30 days, the customer pays 50% of the involce with a check. How will
this transaction be recorded?
The customer's payment will be recorded as a debit to(blank)
and a credit to Accounts Receivable.

Answer:

Explanation:

When a Receivable pays their bill, the cash account will be debited to show that cash has come into the company because cash is an asset account and assets are debited when they increase.

Accounts Receivable is an asset account as well and when the Receivable pays, they are reducing the amount that they owe(as is the case here) so their account needs to be reduced. Assets are credited when they reduce so this will be credited.

Although RICO was passed to prevent gangsters from taking money they earned illegally and investing it in legitimate businesses, it is now often used against businesspeople who break the law.
a) true
b) false

A company has developed a new gadget. If the gadget is successful, the present value of the payoff (at the time the product is brought to market) is $6.2 million. If the gadget fails, the present value of the payoff is $1.80 million. If the gadget goes directly to market, there is a 50 percent chance of success. Alternatively, the company can delay the launch by one year and spend $0.25 million to test-market the product. Test-marketing would allow the company to improve the product and increase the probability of success to 75%. The appropriate discount rate is 11%. Should the firm conduct test-marketing?

a. No, because NPV is lower by $0.25 million
b. No, because NPV is lower by approximately $0.31 million
c. No, because NPV is lower by approximately $0.11 million
d. Yes, because NPV is higher by approximately $0.34 million
e. Yes, because NPV is higher by approximately $0.19 million

Kevin purchases 1,000 shares of Bluebird Corporation stock on October 3, 2020, for $115,000. On December 12, 2020, Kevin purchases an additional 750 shares of Bluebird stock for $80,500. According to market quotations, Bluebird stock is selling for $115 per share on 12/31/20. Kevin sells 500 shares of Bluebird stock on March 1, 2021, for $64,400.

Required:
a. What is the adjusted basis of Kevin’s Bluebird stock on December 31, 2020?
b. What is Kevin’s recognized gain or loss from the’ sale of Bluebird stock on March 1, 2021, assuming dial the shares sold are from the shares purchased on December 12, 2020?
c. What is Kevin’s recognized gain or loss from the sale of Bluebird stock on March 1, 2021, assuming that Kevin cannot adequately identify the shares sold?

5. Which of the following statements is false? A) The incentives come from owning stock in the company and from compensation that is sensitive to performance. B) The role of the corporate governance system is to mitigate the conflict of interest that results from the combination of ownership and control without unduly burdening managers with the risk of the firm. C) Punishment comes when a board fires a manager for poor performance or fraud, or when, upon failure of the board to act, shareholders or raiders launch control contests to replace the board and management. D) The corporate governance system attempts to align interests by providing incentives for taking the right action and punishments for taking the wrong action. E) None of the above

On January 8, Quastrar, Inc. sent Hylian Company a letter offering to sell $10,000 in restaurant supplies. On January 18, Hylian mailed a letter to Quastrar accepting the offer. Quastrar received the acceptance letter on January 20. On January 17, Quastrar sent a letter revoking the offer. Hylavian received this letter on January 21. A contract between Quastrar and Hylavian: A. was not formed because the revocation was effective before the acceptance was sent. B. was not formed because the revocation was effective before the acceptance was received. C. was formed on January 18. D. was formed on January 20

Your friend Brian just graduated from medical school. He is excited to begin his new career but is worried about how he will be able to pay back his nearly $150000 in student loans if he were to become disabled. You have recommended a long-term own-occupation disability policy. Approximately how much will Brian pay per month in premiums for this type of policy if the monthly benefit is $6800

The 1255 people residing in the state of Oz want their yellow brick road repaved. It could be repaved with standard asphalt for a cost of $163403 or with shimmering gold asphalt for $8623195. The senator that represents Oz in the national legislature argues that the yellow brick road is a national treasure and a tourist attraction. As such, the senator argues that the nation of 4363963 people should pay for the repaving. Round your answer to two decimals for all of the following questions.
What is the cost per person if the national government pays for gold asphalt?
$ ________ /person
What is the cost per person if the state of Oz pays for gold asphalt?
$ ________/person
What is the cost per person if the state of Oz pays for standard asphalt?
$________/person
Which asphalt will likely be chosen if the residents of Oz?
a. gold asphalt
b. standard asphalt
Which asphalt will likely be chosen if the national bear the cost of repaving?
government bears the cost of repaving?
a. gold asphalt
b. standard asphalt

If you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertises, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non-advertising firm will earn $5 million. If you and your rival plan to be in business for only one year, the Nash equilibrium is: _______.
a. for your firm to advertise and the other not to advertise.
b. for neither firm to advertise.
c. for each firm to advertise.
d. None of the answers is correct.

Corporate structure may be defined as

A. the way a corporate building is structured

B. whether a company pays corporate taxes

C. the method a company uses to pay its employees

D. the way a businss is organized

ABC Company has the following trial balances on 12/31/20x1 and 12/31/20x0: December 31 20x120x0 Cash35,00032,000 Accounts Receivable22,00018,000 Inventory31,00040,000 Property10,00010,000 Plant and equipment100,00082,000 Accumulated depreciation, plant assets(20,000)(14,000) Accounts Payable(25,000)(15,000) Other current liabilities(6,000)(5,000) Bonds Payable(50,000)(50,000) Common Stock(10,000)(10,000) Retained Earnings(40,000)(30,000) Dividends declared2,0002,000 Sales revenue(200,000)(184,000) Cost of Goods Sold120,000100,000 Selling expenses20,00015,000 General and administrative expenses10,0008,000 Interest Expense10001000 What is the cash outflow for merchandise

Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current year, ABC has net income of $287,000 after deducting Robert's $86,100 salary. In addition to his compensation, ABC pays Robert dividends of $200,900.
a. What is Robert's qualified business income?
b. Would your answer to part (a) change if you determined that reasonable compensation for someone with Robert's experience and responsibilities is $181,050?

Most agency matters are resolved through adjudication.


False

True

Which era came immediately after World War II?

An economy starts in a long-run equilibrium, but then a severe drought kills crops and dramatically increases the price of food. If the Federal Reserve wanted to stabilize the economy and return it back to full employment, it would Group of answer choices decrease the money supply, which would restore the original price level increase the money supply, but prices would forever be higher decrease the money supply, but prices would forever be lower increase the money supply, which would restore the original price level

You are considering buying one of two types of health insurance, both with the same premium. You guess that in the next year there is a 1 percent chance of serious illness that will cost you $67,500 in health care, a 9 percent chance of a moderate illness that will cost you $2,500, and a 90 percent chance of regular health care needs that will cost you $500. One type of health insurance is emergency-only coverage; it will cover your expenses for serious illness but not moderate illness or regular care. The other type covers moderate illness and regular expenses, but its payout is capped, so it will not cover the cost of a serious illness.

Required:
a. What is the expected value of payouts from the emergency-only insurance? $.
b. What is the expected value of payouts from the capped-coverage insurance? $.
c. Which is the more risk-averse option?

Conclusions and recommendations are the most widely read sections of any report. Conclusions summarize and explain your findings and are the heart of your report. The ability to draw sound conclusions and make clear recommendations from your research is crucial to business success. Companies value employees who can analyze data and use it to help answer questions and solve problems.
1. When drawing conclusions, make sure you (use consistent evaluation criteria / are open to sensationalization or exaggeration / avoid relating them to the initial report problem).
Consider the scenario, and then answer the question.
You are making recommendations after researching and writing a report on sports club discounts and employee health.
2. What should you remember about your reader before preparing your recommendations?
A. Readers prefer specific, practical recommendations.
B. Readers may want to know how to implement the suggestions.
C. Readers should have no influence on how your recommendations are developed.
D. Readers prefer that your recommendations be shared indirectly.
E. Readers want to know how your data relate to the problem being studied.
Determine whether each of the following statements is the finding, the conclusion, or the recommendation.
Employee attrition rate after four years with our company is 35 percent, which is 17 percent higher than that of our aspirational peers. Typical employee promotions occur after five years in our company and after four years in competitive firms.
3. This is the (conclusion / finding / recommendation) .
We are losing trained and promising employees more often than our competition due to slow promotion practices within our company.
4. This is the (conclusion / finding / recommendation) .
Implement a leadership development program for promising new employees, and decrease the time before employees are eligible for promotion in order to retain the most promising employees.
5. This is the (conclusion / finding / recommendation) .

Eagle Company uses a standard cost system that has provided the following data: Units of output manufactured 90 Direct labor Standard hours allowed 2 hours per unit of product Standard wage rate $ 15.60 per hour Actual direct labor 200 hours, total cost of $3,520 The direct labor rate variance for the period was: Multiple Choice $712 favorable. $400 favorable. $400 unfavorable. $712 unfavorable.\

Which options are available when exporting a table definition and data? Check all that apply

Jasmine owned rental real estate that she sold to her tenant in an installment sale. Jasmine acquired the property in 2008 for $1,840,000; took $644,000 of depreciation on it; and sold it for $1,012,000, receiving $101,200 immediately and the balance (plus interest at a market rate) in equal payments of $91,080 for 10 years. What is the nature of the recognized gain or loss from this transaction?

Crane, Inc., is preparing its direct labor budget for 2020 from the following production budget based on a calendar year.
Quarter Units Quarter Units
1 20,330 3 35,270
2 25,370 4 30,390
Each unit requires 1.70 hours of direct labor. Prepare a direct labor budget for 2020. Wage rates are expected to be $17 for the first 2 quarters and $19 for quarters 3 and 4.

On the first day of 2021, Paccar had 100,000 shares of common stock outstanding. The following transactions occurred during 2021: March 1: Reacquired 2,000 shares, accounted for as treasury stock. September 30: Sold all the treasury shares. December 1: Sold 11,000 new shares for cash. December 31: Reported a net income of $287,750. Required: Calculate Paccar's basic earnings per share for the year ended December 31,

Old Quartz Gold Mining Company is expected to pay a dividend of $8 in the coming year. Dividends are expected to decline at the rate of 2% per year. The risk-free rate of return is 6%, and the expected return on the market portfolio is 14%. The stock of Old Quartz Gold Mining Company has a beta of -0.25. The intrinsic value of the stock is

Jayleen Company makes two products: Carpet Kleen and Floor Deodorizer. Operating information from the previous year follows. Carpet Kleen Floor Deodorizer Units produced and sold 6,000 5,000 Machine hours used 6,000 2,000 Sales price per unit $ 8 $ 13 Variable cost per unit $ 6 $ 10 Fixed costs of $38,000 per year are presently allocated equally between both products. If the product mix were to change, total fixed costs would remain the same. The contribution margin per machine hour for Floor Deodorizer is:

Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.
Projected Benefit Obligation Plan Assets Value
2019 $2,000,000 $1,900,000
2020 2,400,000 2,500,000
2021 2,950,000 2,600,000
2022 3,600,000 3,000,000
The average remaining service life per employee in 2019 and 2020 is 10 years and in 2021 and 2022 is 12 years. The net gain or loss that occurred during each year is as follows: 2019, $280,000 loss; 2020, $90,000 loss; 2021, $11,000 loss; and 2022, $25,000 gain.
Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule.

Empire Electric Company (EEC) uses only debt and common equity. It can borrow unlimited amounts at an interest rate of rd = 11% as long as it finances at its target capital structure, which calls for 45% debt and 55% common equity. Its last dividend (D0) was $1.85, its expected constant growth rate is 3%, and its common stock sells for $22. EEC's tax rate is 25%. Two projects are available: Project A has a rate of return of 13%, and Project B's return is 10%. These two projects are equally risky and about as risky as the firm's existing assets. What is its cost of common equity? Do not round intermediate calculations. Round your answer to two decimal places. % What is the WACC? Do not round intermediate calculations. Round your answer to two decimal places. % Which projects should Empire accept? -Select-

Budgeted sales of the East End Burger Joint for the first quarter of the year are as follows:January...................................................... $50,000February ..................................................... 60,000March ....................................................... 68,000 The cost of sales averages 40 percent of sales revenue and management desires ending inventories equal to 25 percent of the following month’s sales. Assuming the January 1 inventory is $5,000, the January purchases budget is: a. $19,000 b. $21,000 c. $31,000 d. $69,000

Write a conversation between florist and customer for ordering a bouquet to gift for mom on Mother's Day - write with etiquette

in 2020, Mathis Co. at the first year of operations, has financial income of $1,200,000. It has an litigation expense of $3,000,000, and installment sales of $2,4000,000. The estimated litigation expense of $3,000,000 will be deductible in 2022 when it is expected to be paid. The installment sales will be realized in the amount of $1,200,000 in each of the next two years. The income tax rate is 20% for all years. what is tax payable for 2020

Cusic Music Company is considering the sale of a new sound board used in recording studios. The new board would sell for $24,700, and the company expects to sell 1,640 per year. The company currently sells 1,990 units of its existing model per year. If the new model is introduced, sales of the existing model will fall to 1,660 units per year. The old board retails for $23,100. Variable costs are 53 percent of sales, depreciation on the equipment to produce the new board will be $1,035,000 per year, and fixed costs are $3,250,000 per year. If the tax rate is 24 percent, what is the annual OCF for the project

Identify whether each of the following statements is or is not a provision of Occupational Safety and Health Act (OSHA).

a. Employers can be cited and fined for not complying with OSHA workplace standards.
b. OSHA is authorized to enter, after a one-month delay, any factory, plant, establishment, construction site or other areas, workplace, or environment where work is performed by an employee of an employer to inspect or investigate.
c. OSHA is authorized to inspect and investigate during work hours at any place of employment and all pertinent conditions and to question privately any employer, owner, operator, agent, or employee.