Answer: The Creator, The Builder, and The Operator
Three categories of entrepreneurs are
The Creator, The Builder, The Operator.True or False, a peer review is usually done before the appeal process
Answer:
True or False, a peer review is usually done before the appeal process
False
Acellus
Help Resources
If a corporation makes $20 million in one year,
after taxes are paid (at 35%), that company
will have a net income of
million
A $7
B. $10
C. $13
Answer:
A) 7 million
Explanation:
20 000 000 X 35÷100 = 7 million
Competitive markets may also be cooperative Explain.
In a competitive market, cooperation and a long-term relationship between the buyer and vendor are possible.
What are conflict and collaboration?Competition: "to compete" means to make an effort to outdo or surpass rivals who are making an effort to achieve the same goal. Contrarily, cooperation is defined as "working together for a common goal; sharing an activity for mutual gain.
How do rivalry and collaboration connect to one another?As a result, rivalry arises under the theory of negative goal correlation, according to which a goal may only be attained if others fail to do so. On the other hand, collaboration happens when people believe that the achievement of one goal will result in the achievement of all other goals.
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Customers might sometimes describe contradictory needs
Customers might sometimes describe contradictory needs which means Option C. Customers sometimes describe needs that oppose each other.
When customers require two different things that cannot be addressed by the same product, it is referred to as a conflicting requirement. There are many reasons why customers may have conflicting needs. Some customers might have a requirement for a product to be both inexpensive and of high quality, for example. Others may desire a product that is both small and powerful. Customers may sometimes find it difficult to articulate what they want, which might result in vague descriptions.
This might make it more difficult for the supplier to provide a solution that satisfies the customer’s needs. Customer service staff must be trained to engage with customers and listen actively to their concerns. They must also be able to identify when there is a contradictory requirement and provide solutions that address the customer's needs in a way that satisfies the customer's expectations while also meeting the supplier's operational needs. Understanding customer needs is an important part of the customer service profession, and it may take some time and effort to develop the necessary skills.
Some customers are very detailed in describing their needs, which can be beneficial for suppliers because it allows them to provide an appropriate solution for the customer. Overall, being aware of conflicting customer requirements is essential in the customer service sector to provide an effective solution. Therefore, the correct option is C.
The question was incomplete, Find the full content below:
Customers might sometimes describe contradictory needs.
A. A customer's needs can sometimes be confusing.
B. Customers might sometimes give vague descriptions.
C. Customers sometimes describe needs that oppose each other.
D. Some customers are extremely thorough in describing their needs.
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Please I need someone's help
Answer:
b
Explanation:
cuz its a commercial which is technological advertisement
Alo Company produces commercial printers. One is the regular model, a basic model that is designed to copy and print in black and white. Another model, the deluxe model, is a color printer-scanner-copier. For the coming year, Alo expects to sell 90,000 regular models and 18,000 deluxe models. A segmented income statement for the two products is as follows:
Regular Model Deluxe Model Total Sales
$13,500,000 $12,240,000 $25,740,000
Less: Variable costs 8,100,000 7,344,000 15,444,000
Contribution margin $5,400,000 $4,896,000 $10,296,000
Less: Direct fixed costs 1,200,000 960,000 2,160,000
Segment margin $4,200,000 $3,936,000 $8,136,000
Less:Common fixed costs 1,500,800
Operating income $6,635,200
Required:
1. Compute the number of regular models and deluxe models that must be sold to break even. Round your answers to the nearest whole unit. Regular models units Deluxe models units
2. Using information only from the total column of the income statement, compute the sales revenue that must be generated for the company to break even. Round the contribution margin ratio to four decimal places. Use the rounded value in the subsequent computation. (Express as a decimal-based amount rather than whole percentage.) Round the amount of revenue to the nearest dollar.
1. The break-even points in sales units are computed as follows:
Break-even point (in units) = Direct fixed cost/contribution margin per unit
Regular model = 20,000 units ($1,200,000/$60)
Deluxe model = 3,529 units ($960,000/$272)
2. The Alo Company's Sales revenue to break-even, company-wide, is computed as follows:
Sales Revenue at break-even point:
= Fixed costs/Contribution margin ratio
= $3,660,800/40%
= $9,152,000
Data and Calculations:
Regular Model Deluxe Model Total
Expected sales quantity 90,000 18,000 108,000
Sales $13,500,000 $12,240,000 $25,740,000
Less: Variable costs 8,100,000 7,344,000 15,444,000
Contribution margin $5,400,000 $4,896,000 $10,296,000
Less: Direct fixed costs 1,200,000 960,000 2,160,000
Segment margin $4,200,000 $3,936,000 $8,136,000
Less:Common fixed costs 1,500,800
Operating income $6,635,200
Selling price per unit $150 $680 ($12,240,000/18,000)
Variable costs per unit $90 $408 ($7,344,000/18,000)
Contribution margin $60 $272 ($680 - $408)
Contribution margin ratio for the company = 40% ($10,296,000/$25,740,000 x 100)
Company total fixed costs = $3,660,800 ($2,160,000 + $1,500,800)
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The CPI is based on the prices of a carefully selected market
basket of goods, all of which consumers can purchase at a
supermarket.
O True
O False
The CPI is based on the prices of a carefully selected market basket of goods, all of which consumers can purchase at a supermarket is false.
The CPI is a measure of inflation that tracks the average change over time in the prices paid by urban consumers for a fixed basket of goods and services.
The basket of goods and services included in the CPI represents the typical spending patterns of urban households, but it is not limited to items found in a supermarket. The basket includes a wide range of goods and services, such as housing, transportation, healthcare, education, and recreation, in addition to food and beverages.
The Bureau of Labor Statistics (BLS) in the United States, which calculates the CPI, regularly updates the basket of goods and adjusts their weights based on consumer spending patterns. The BLS collects data from thousands of retail stores, service establishments, and other providers to ensure a representative sample of prices across different regions and types of businesses.
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Use the information below to answer questions 7-10 Mandated Company Ltd has established the following inventory levels for his manufacturing establishment: Normal usage Minimum usage Maximum usage Economic Order Quantity (EOQ) Delivery period 7. What is the re-order level? 20,000 units /day 12,000 units /day 26,000 units /day 100,000 units 26-30 days
The re-order level can be calculated by adding delivery period to the time it takes to receive an order. Therefore, the re-order level is 806,000 units.
What is re-order level?Re-order level is a term used in inventory management that refers to the minimum quantity of a product that a business needs to have on hand before placing a new order. It is also known as the reorder point or the minimum stock level. The purpose of setting a re-order level is to ensure that a business never runs out of stock, which could lead to lost sales and unhappy customers. The re-order level is determined by considering various factors such as lead time, demand variability, and safety stock. It is calculated by subtracting the lead time demand from the desired service level and adding the safety stock. By setting a re-order level, businesses can optimize their inventory management, reduce the risk of stockouts, and ensure they always have enough product to meet customer demand.
Re-order level = Maximum usage × (Delivery period + Time to receive an order) - Minimum usage
Re-order level = 26,000 units/day × (28 days + 5 days) - 12,000 units/day
Re-order level = 26,000 units/day × 33 days - 12,000 units/day
Re-order level = 818,000 units - 12,000 units/day
Re-order level = 806,000 units
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U.S. Treasury issues three types of Treasury securities: Treasury bills (T-bills), Treasury notes (T-notes), and Treasury bonds (T-bonds). The time to maturity (TTM) of T-bills is 12-month or less than 12-month. The TTM of T-notes is between 1 year and 10 years. The TTM of T-bonds is longer than 10 years. Which one(s) (T-bills, T-notes, or T-bonds) belong to the money market instrument(s)? Which one(s) belong to the capital market instrument(s)? If you would like to buy Treasury securities, which one(s) would you purchase? Explain why?
Answer:
Treasury bills (T-bills) are short-term money market instruments issued by the government to raise short-term funds. They are issued for terms of less than a year and are sold at a discount from their face value. T-bills have maturities of 4, 8, 13, 26, and 52 weeks. Therefore, T-bills belong to the money market instrument(s).
Treasury notes (T-notes) are issued with maturities from two to 10 years and pay interest semi-annually. Therefore, T-notes belong to the capital market instrument(s).
Treasury bonds (T-bonds) are long-term investments that have maturities of 10 to 30 years and also pay interest semi-annually. Therefore, T-bonds belong to the capital market instrument(s).
If you would like to buy Treasury securities, it depends on your investment goals. If you want a short-term investment with low risk and low return, you can consider buying T-bills. If you want a medium-term investment with moderate risk and moderate return, you can consider buying T-notes. If you want a long-term investment with high risk and high return, you can consider buying T-bonds.
Explanation:
I hope this helps
Neema is a manager for a television manufacturer. She manages the logistics, quality, and productivity of the service
department. Thus, Neema is a?
MRP determines the necessary materials and when they will be needed during the manufacturing process using data from the bill of materials (BOM), inventory data, and the master production schedule.
When businesses divide the transformation process into departments that group related processes, what is the term used?
Process-layout-using businesses. The transformation process is divided into departments that group related processes in a process layout. A metal fabrication facility, for instance, might comprise divisions for cutting, drilling, and polishing. A hospital might have an obstetrics unit, an X-ray unit, and so forth.
What distinguishes a business as a manufacturer or a service provider?
The five key distinctions between service and manufacturing organizations are the tangible nature of their output, production on demand or for inventory, production tailored to the needs of a specific customer, labor-intensive or automated operations, and the requirement for a physical production location.
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Which of the following statements is true of the corporate strategy of an organization
Answer:
I need the choices to choose from.
Explanation:
One of the most important and productive
methods to identify job opportunities is by
a. networking with family and friends
b. posting a "Seeking Employment" ad at
the grocery store
c. trying to call Human Resource offices
directly
d. checking the Help Wanted section of the
newspaper daily
One of the most important and productive methods to identify job opportunities is by networking with family and friends. The Option A is correct.
What is the advantage of networking with family and friends?It is all about developing long-term relationships and a positive reputation over time. It entails meeting and getting to know people who can help you and who may be able to help you in return.
Friends and family, work colleagues, business connections, your social network, and members of groups to which you belong are all part of your network. Regular networking within your industry and discipline can help you advance in your career.
It is advantageous to cultivate relationships with your contacts. You can improve your professional profile and gain access to more opportunities, as well as work through industry challenges and gain satisfaction from assisting and connecting others in your network.
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Assessing an organization's strengths and weaknesses is an essential part of aligning projects with the organization. A project may be difficult to complete successfully if it supports the organization's goals, but the organization does not have the right capabilities. All of these are factors that could cause the project to be unsuccessful EXCEPT: a. necessary skills required for potential projects are not available internally and not easily acquired. b. project management processes are clearly defined and understood. c. individuals and teams require higher level leadership to assign tasks and make project decisions. d. organization is risk-averse at all levels.
All of these are factors that could cause the project to be unsuccessful EXCEPT necessary skills required for potential projects are not available internally and not easily acquired.
What does a SWOT analysis in project management accomplish?SWOT analysis is a technique used in project management to evaluate a project's advantages, disadvantages, opportunities, and threats. It aids stakeholders in deciding which project components to concentrate on as well as any dangers to prepare for.
Which of the following, by choosing the appropriate programs or projects, prioritizing the work, and providing the required resources, is in line with organizational strategies?By choosing the appropriate projects, setting work priorities, and allocating necessary resources, portfolio management works in accordance with organizational strategies.
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cy
Irfan runs a small business. His business's total liabilities amount to $200.000. His net profit for the latest accounting period is $50.000. The total
value of all the business assets comes to $600.000. What is the debt to asset ratio in the case of Irfan's business?
The debt to assets ratio of Irfan's business to two decimal places, is ???
percent
Answer:
33.33%
Explanation:
The debt to assets ratio indicates the proposition of a company's assets that have been financed through debt.
the formula for determining this ratio is as follows
Debt to asset ratio = Total debts/total assets x 100
For Cy Ifran, total debts or liabilities =$200,000
total assets = $600,000
Debt to asset ratio =$200,000/ $600,000
=0.33 x 100
=33.33%
Select and name a market of any well-known product (left upon your imagination), draw its market diagram, state and name four different factors that might cause changes, showing the changes in equilibrium price and quantity
The market of any well-known product such as The mobile phone product is the supermarket and online stores.
The changes in equilibrium price and quantity is shown in the image attached.
What is an example of a product market?An Examples of Product markets is known to be Supermarkets that are said to be selling a lot of goods in a convenient environment.
Ebay.com is known to be one that gives people the opportunity to sell their goods.
The factors that cause a change in supply as well as in demand that tends to bring about the shifting of the supply and demand curve are:
Number of sellers.Expectations of sellers.Price of the product materials.Technology.Other forms of prices.Learn more about supermarket from
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Search the library and the Internet for information pertaining to the ethical violation made by an organization, past or present, and be sure not to identify the organization. See if this incident has occurred in other organizations; give 2 examples and their outcomes. (OWN WORDS)
Legitimizations that are Substantial for the Association's Activities Business ethics issues length a great many subjects inside an association's ethical rules. Straightforward moral issues in business include empowering conduct that depends on genuineness and trust, however more complicated issues include obliging variety, humane navigation, consistence, and administration that is reliable with the association's fundamental standards.
Business ethics, typically alluded to as corporate morals, is a subset of applied morals or expert morals that resolves moral or moral issues that might come up in the work environment.
It is critical to the activities of the two individuals and whole organizations and is relevant to all features of business behavior.
People, authoritative declarations, or the overall set of laws all add genuineness to these morals.
These guidelines, goals, moral convictions, and untrustworthy conduct act as an organization' core values.
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What is characteristic of Cloud computing?
The characteristic of Cloud computing are On-Demand Self-Service, Broad Network Access, Resource Pooling, Rapid Elasticity and Measured Service.
Cloud computing is a technology paradigm that offers on-demand access to a shared pool of computing resources over the internet. It is characterized by several key features:
On-Demand Self-Service: Cloud computing allows users to provision and access computing resources, such as servers, storage, and applications, as needed without requiring human interaction with service providers. Broad Network Access: Cloud services are accessible over the internet from a variety of devices, including desktop computers, laptops, tablets, and smartphones.Resource Pooling: Cloud providers consolidate and share computing resources, such as servers and storage, among multiple users or customers. Rapid Elasticity: Cloud services can rapidly scale up or down to accommodate fluctuating workloads and user demands. Measured Service: Cloud computing enables metering and monitoring of resource usage. Providers track and measure resource consumption, such as storage, processing, bandwidth, and active user accounts.For such more question on Elasticity:
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Imagine the federal government has a national debt of $12.6 trillion. Congress's budget for the coming year includes a spending projection of $5.1 trillion. Tax revenue is expected to be $4.8 billion. Which fiscal policy should Congress adopt to avoid increasing the national debt?
Lower taxes.
Increase funding.
Decrease spending.
No change is necessary.
Congress should decrease spending to avoid increasing the national debt.
What is National-debt?
Similar to a person whose debt can include a house, vehicle loan, and credit cards, the national debt is made up of several sorts of debt. Marketable or non-marketable securities, as well as debt owned by the general public or by the government itself, are among the several forms of debt (known as intragovernmental).
The amount of money the federal government has borrowed to pay the remaining balance of costs incurred through time is known as the national debt. A budget deficit occurs in a particular fiscal year (FY) when spending (such as money for roads) exceeds revenue (such as money from federal income tax). The federal government borrows money to cover this deficit by selling marketable assets including Treasury bonds, bills, notes, and adjustable rate notes.
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A comparative balance sheet and income statement is shown for Cruz, Incorporated.
CRUZ, INCORPORATED
Comparative Balance Sheets
At December 31 2021 2020
Assets
Cash $ 63,600 $ 15,900
Accounts receivable, net 27,400 33,700
Inventory 57,400 63,300
Prepaid expenses 3,500 2,900
Total current assets 151,900 115,800
Furniture 70,500 82,200
Accumulated depreciation—Furniture (10,900) (6,200)
Total assets $ 211,500 $ 191,800
Liabilities and Equity
Accounts payable $ 10,000 $ 14,100
Wages payable 6,000 3,300
Income taxes payable 1,000 1,800
Total current liabilities 17,000 19,200
Notes payable (long-term) 20,700 47,800
Total liabilities 37,700 67,000
Equity
Common stock, $5 par value 153,600 124,000
Retained earnings 20,200 800
Total liabilities and equity $ 211,500 $ 191,800
CRUZ, INCORPORATED
Income Statement
For Year Ended December 31, 2021
Sales $ 328,400
Cost of goods sold 211,300
Gross profit 117,100
Operating expenses (excluding depreciation) 60,000
Depreciation expense 25,300
Income before taxes 31,800
Income taxes expense 11,600
Net income $ 20,200
Required:
Use the indirect method to prepare the operating activities section of Cruz’s statement of cash flows.
Add: Decrease in inventory $6,300
Less: Increase in prepaid expenses -$700
Less: Decrease in accounts payable -$4,100
How to solveCash Flows From Operating Activities Section of Cash Flow Statement:
Particulars Amount Amount
Cash flow from operating activities:
Net income $20,400
Adjustments to reconcile Net income to operating cash flow
Income statement items not affecting cash:
Add: Depreciation expenses $25,400
Changes in current operating assets and liabilities
Add: Decrease in accounts receivable $6,500
Add: Decrease in inventory $6,300
Less: Increase in prepaid expenses -$700
Less: Decrease in accounts payable -$4,100
Add: Increase in wages payable $2,700
Less: Decrease in income tax payable -$800 $9,900
Net cash Provided by (Used for) Operating Activities $55,700
*Decrease in current liabilities and Increase in current assets other than cash is deducted from Net Income.
*Increase in current liabilities and Decrease in current assets other than cash is added to Net Income.
*Non cash & Non operating expenses are added to Net income.
*Non cash & Non operating income are deducted from Net income.
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Which employees should be aware of how to turn off power to a shop in an emergency?
Managers
Owners
Contractors
All workers should know how to turn the power off in an emergency.
Answer:
Last one.
Explanation:
All the workers should know how to turn off the power in an emergency. Just in case there isn't one, there is the other.
what are 2 different types of budgets and discuss how they complement each other?
There are two main types of budgets: operational budgets and financial budgets.
Operational budgets are used to plan and monitor the day-to-day operations of a business, and typically cover a period of one year. These budgets include items such as revenue projections, production costs, and operating expenses. Operational budgets are crucial for ensuring that a business stays on track and meets its operational goals. Financial budgets, on the other hand, are focused on the long-term financial health of a business. They include items such as capital expenditures, financing costs, and cash flow projections. Financial budgets are used to help businesses plan for the future and make strategic decisions about investments and growth. These two types of budgets complement each other by providing a comprehensive view of a business's operations and financial health. Operational budgets help to ensure that day-to-day activities are aligned with the overall goals of the business, while financial budgets provide a roadmap for achieving long-term success. By using both types of budgets, businesses can make informed decisions about resource allocation, identify potential risks, and maintain a strong financial position over the long term.
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At what percentage of credit card usage, does it start affecting your score in a negative way?
Answer:
3%
Explanation:
ratio of 80 or 90 percent or more highly negative impact on your credit score.
What are some elements of conventional morality that you think are morally mistaken? Be sure to provide the reasons that support your verdict.
An element of conventional morality that might be morally mistaken is caring about others' thoughts of you. This is wrong cause you will always be competing.
This is further explained below.
What are some elements of conventional morality that you think is morally mistaken?Generally, One of the most essential components of conventional morality is the idea that the individual in issue should give consideration to the opinions and perspectives of others.
Furthermore, one's moral value is determined by what other people think of them, which means that a person is a good person when other people approve of the behaviors they do.
In conclusion, pre-conventional morality is more egocentric, and it requires the individual to consider primarily in terms of how they could be penalized or how they might profit from their actions.
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practice setting goals for various aspects of your personal life such as academics career preparation family hobbie. set at least two short term goals and at least two Long term goals for each area for these goals that you have set write out plans for achieving those goals.think in terms of what you will have to do to accomplish each
Certainly, setting goals is an essential practice to achieve success and satisfaction in various aspects of personal life.
Academics:
Short-term goals:
Attend all classes and complete assignments on time.Improve my grade in a specific course by studying regularly. Plan to achieve short-term goals:
Create a daily study schedule and allocate time for reading, writing, and reviewing notes.Seek help from a tutor or professor for difficult concepts.
Long-term goals: Achieve a high GPA to qualify for graduate school. Get accepted into my desired graduate program. Plan to achieve long-term goals: Take challenging courses and attend workshops or seminars to improve academic skills.Research graduate programs and their admission requirements, and prepare for standardized tests if necessary.
Career Preparation:
Short-term goals: Update my resume and cover letter for job applications.Attend a networking event and meet new people in my industry. Plan to achieve short-term goals:Research the latest trends in resume and cover letter writing, and tailor them to specific job applications. Prepare a pitch and networking strategy in advance.
Long-term goals:
Secure a job in my preferred industry and position. Develop new skills and advance in my career.Plan to achieve long-term goals:Attend career fairs, conferences, and other industry events to network and learn about job opportunities.Take online courses or certifications to acquire new skills and knowledge.Seek mentorship or coaching from experienced professionals.
Family:
Short-term goals:Plan a weekend outing with my family.Call or video with a family member living in a different city or country.Plan to achieve short-term goals: Discuss with family members and decide on a fun activity that everyone can enjoy.Schedule a specific time for calling or video chatting, and set reminders if necessary.
Long-term goals:
Spend more quality time with family on a regular basis.Plan and save for a family vacation in the next year.Plan to achieve long-term goals:Create a family calendar or schedule to plan and prioritize events and activities.Set aside a specific amount of money each month for family vacations or other activities.
Hobbies:
Short-term goals:
Practice a new hobby for at least one hour each day.Learn a new technique or skill in my hobby.Plan to achieve short-term goals:Schedule a specific time each day for practicing or learning, and avoid distractions. Research online tutorials or courses, and follow step-by-step instructions.
Long-term goals:
Master a specific hobby and showcase my work publicly.Incorporate my hobby into my career or business.Plan to achieve long-term goals:Attend workshops or conferences to learn from experts and connect with like-minded individuals.Create a portfolio or online gallery to showcase my best work and promote my hobby.
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q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
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WILL GIVE BRAINLIST
A depression is a severe recession that is often accompanied
by deflation.
Otrue
O false
Answer:
true
Explanation:
mark me brainliest
See if you can find all eight components and provide an example for each one.
Components come in two types, Class components, and Function components, in this tutorial we will concentrate on Function components.
What is a Component?An approach for condensing a large number of connected variables into fewer, more significant components is simple component analysis. It offers a more understandable result than the principal component analysis but is similar.
The parts that make up something is its constituents. One essential element of a nuclear bomb is enriched uranium. There are four basic parts to the management strategy. The parts which make up something are its constituent parts.
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i am meeting my new team, which I will directly supervise for the first time. I introduce myself and jump right into the agenda items for the jobs each team member will be assigned. I am using ______.
On Apr. 1, you, the business owner donated the following assets to Eat Your Life Away: cash,
$20,000; accounts receivable, $14,700; food supplies, $3,300; and Kitchen Utensils, $12,000.
There were no liabilities received. On the same day, you paid three months’ rent on a lease rental
contract, $6,000. The following day, you paid the premiums on property and casualty insurance
policies, $4,200.
On April 4, you received $9,400 cash from BTL who had contracted you to supply food for its
50 employees for the month of April. As a result of this BTL contract, you purchased on the
following day additional restaurant office equipment on account from Angelus Press for $8,000.
On April 6, you received $11,700 cash from customers who were owing you from Stann Creek
on account. Because of the competition in the City amongst restaurant owners, on April 10, you
paid Amandala Newspapers $350 cash for a newspaper advertisement to announce your presence
in the city. On April 12, having received the money from your debtors in Stann Creek, you
decided to pay Angelus Press $6,400 for part of the debt incurred on April 5. On the same day,
you provided food worth $21,900 to a major political party having a convention on account for
the period April 1–12. Because of the bi-monthly payment agreement with your cook, you paid
her salary for two weeks of $1,650.
On April 17, you received cash from cash customers for foods sold during the period April 1–16,
$6,600 and you paid cash for food supplies, $725 the following day. Having established that the
political party is trustworthy, you provided additional foods on account for another rally held at
the Bliss Center for the period April 13–20, $16,800.
On April 24, you received cash from cash customers for food sold for the period April 17–24,
$4,450. On April 26, you received cash from the political party who bought food on account,
$26,500. Being another two-weeks period, you paid your cook’s two weeks’ salary of $1,650 on
April 27. You paid your telephone bill of $540 for the month of April on April 29 and BEL bill
of $760 the following day.
On the last day of the month, you received cash of $5,160 from cash customers for food sold for
the period April 25–30, supplied food on account to BTL & Digicel staff on account for the
remainder of April, $2,590. Because you had to pay for personal expenses, you withdrew
$18,000 for personal use.
Instructions
The Belize Income Tax Department wishes to conduct an audit of small businesses in Belize
and “Eat Your Life Away” was selected as one of the businesses the Tax Department
wishes to audit. Hence, it wants you to provide the following:
1. All the journal entries that you made during the month using a two-column journal and would
like you to use the following charts of accounts:
Cash Capital Accounts Receivable
Drawing Food Supplies Sales Revenue
Prepaid Rent Salary Expense Prepaid Insurance
Food Supplies Expense Kitchen Utensils Rent Expense
Accumulated Depreciation-Kitchen Utensils Depreciation Expense
Accounts Payable Insurance Expense Salaries Payable
Miscellaneous Expense Unearned Revenues
2. Post the journal to a ledger accounts.
3. Prepare an unadjusted trial balance.
Eat Your Life Away will prepare the following journal entries, post them to the ledger, and extract an unadjusted trial balance as follows:
1. Journal Entries:
Apr. 1 Debit Cash $20,000
Debit Accounts receivable $14,700
Debit Food supplies $3,300
Debit Kitchen Utensils $12,000
Credit Capital $50,000
Apr. 2 Debit Prepaid Rent $6,000
Credit Cash $6,000
Apr. 3 Debit Prepaid Insurance $4,200
Credit Cash $4,200
Apr. 4 Debit Cash $9,400
Credit Unearned Revenue $9,400
Apr. 5 Debit Kitchen Utensils $8,000
Credit Accounts Payable $8,000
Apr. 6 Debit Cash $11,700
Credit Accounts receivable $11,700
Apr. 10 Debit Advertising Expense $350
Credit Cash $350
Apr. 12 Debit Accounts Payable $6,400
Credit Cash $6,400
Apr. 12 Debit Accounts Receivable $21,900
Credit Sales Revenue $21,900
Apr. 12 Debit Salary Expense $1,650
Credit Cash $1,650
Apr. 17 Debit Cash $6,600
Credit Sales Revenue $6,600
Apr. 18 Debit Food Supplies $725
Credit Cash $725
Apr. 20 Debit Accounts Receivable $16,800
Credit Sales Revenue $16,800
Apr. 24 Debit Cash $4,450
Credit Sales Revenue $4,450
Apr. 26 Debit Cash $26,500
Credit Accounts Receivable $26,500
Apr. 27 Debit Salary Expense $1,650
Credit Cash $1,650
Apr. 28 Debit Miscellaneous Expense $540
Credit Cash $540
Apr. 29 Debit Miscellaneous Expense $760
Credit Cash $760
Apr. 30 Debit Cash $5,160
Credit Sales Revenue $5,160
Apr. 30 Debit Unearned Revenue $2,590
Credit Sales Revenue $2,590
Apr. 30 Debit Drawings $18,000
Credit Cash $18,000
2. Ledgers Accounts:
Cash
Date Account Titles Debit Credit
Apr. 1 Capital $20,000
Apr. 2 Prepaid Rent $6,000
Apr. 3 Prepaid Insurance $4,200
Apr. 4 Unearned Revenue $9,400
Apr. 6 Accounts receivable $11,700
Apr. 10 Advertising Expense $350
Apr. 12 Accounts Payable $6,400
Apr. 12 Salary Expense $1,650
Apr. 17 Sales Revenue $6,600
Apr. 18 Food Supplies $725
Apr. 24 Sales Revenue $4,450
Apr. 26 Accounts Receiv. $26,500
Apr. 27 Salary Expense $1,650
Apr. 28 Miscellaneous Expense $540
Apr. 29 Miscellaneous Expense $760
Apr. 30 Sales Revenue $5,160
Apr. 30 Drawings $18,000
Apr. 30 Balance $43,535
Totals $83,810 $83,810
Capital
Date Account Titles Debit Credit
Apr. 1 Cash $20,000
Apr. 1 Accounts receivable $14,700
Apr. 1 Food supplies $3,300
Apr. 1 Kitchen Utensils $12,000
Apr. 30 Balance $50,000
Totals $50,000 $50,000
Accounts Payable
Date Account Titles Debit Credit
Apr. 5 Kitchen Utensils $8,000
Apr. 12 Cash $6,400
Apr. 30 Balance $1,600
Totals $8,000 $8,000
Accounts Receivable
Date Account Titles Debit Credit
Apr. 1 Capital $14,700
Apr. 6 Cash $11,700
Apr. 12 Sales Revenue $21,900
Apr. 20 Sales Revenue $16,800
Apr. 26 Cash $26,500
Apr. 30 Balance $15,200
Totals $53,400 $53,400
Drawing
Date Account Titles Debit Credit
Apr. 30 Cash $18,000
Food Supplies
Date Account Titles Debit Credit
Apr. 1 Capital $3,300
Apr. 18 Cash $725
Apr. 30 Balance $4,025
Totals $4,025 $4,025
Sales Revenue
Date Account Titles Debit Credit
Apr. 12 Accounts Receivable $21,900
Apr. 17 Cash $6,600
Apr. 20 Accounts Receivable $16,800
Apr. 24 Cash $4,450
Apr. 30 Cash $5,160
Apr. 30 Unearned Revenue $2,590
Apr. 30 Balance $57,500
Totals $57,500 $57,500
Prepaid Rent
Date Account Titles Debit Credit
Apr. 2 Cash $6,000
Salary Expense
Date Account Titles Debit Credit
Apr. 12 Cash $1,650
Apr. 27 Cash $1,650
Apr. 30 Balance $3,300
Totals $3,300 $3,300
Prepaid Insurance
Date Account Titles Debit Credit
Apr. 3 Cash $4,200
Kitchen Utensils
Date Account Titles Debit Credit
Apr. 1 Capital $12,000
Apr. 5 Accounts Payable $8,000
Apr. 30 Balance $20,000
Totals $20,000 $20,000
Miscellaneous Expense
Date Account Titles Debit Credit
Apr. 10 Cash $350
Apr. 28 Cash $540
Apr. 29 Cash $760
Apr. 30 Balance $1,650
Totals $1,650 $1,650
Unearned Revenues
Date Account Titles Debit Credit
Apr. 4 Cash $9,400
Apr. 30 Sales Revenue $2,590
Apr. 30 Balance $6,810
Totals $9,400 $9,400
3. Eat Your Life Away
Unadjusted Trial Balance
As of April 30,
Date Account Titles Debit Credit
Cash $43,535
Capital $50,000
Accounts Payable 1,600
Accounts Receivable 15,200
Drawings 18,000
Food Supplies 4,025
Sales Revenue $57,500
Prepaid Rent 6,000
Salary Expense 3,300
Prepaid Insurance 4,200
Kitchen Utensils 20,000
Miscellaneous Expense 1,650
Unearned Revenue $6,810
Totals $115,910 $115,910
See the attachment for Data Analysis of Transactions.
Learn more: https://brainly.com/question/18558772
Which of the following characteristics does NOT usually apply to process operations?
A. Each unit of product is separately identifiable.
B. Partially completed products are transferred between processes.
C. Each process is a separate department.
D. A separate Work in Process Inventory is used for each process.
E. Costs are computed using equivalent units.