Answer:
strategic initiatives
Explanation:
According to my research on different business strategies, I can say that based on the information provided within the question these activities would most likely be categorized as an organizations strategic initiatives. This term refers to the means through which a vision is translated into practice. Which in this situation the vision/goal is to increase the firms value and they are doing this by donating to various causes in an attempt to become more socially accepted.
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Omega, Inc., a U.S.-based maker of personal fitness trackers, is not sure about the attractiveness of entering the country of Mattica. Mattica had recently emerged as a democracy after nearly one hundred years of dictatorship. Which of the following types of entry into Mattica would allow Omega, Inc. to learn about the foreign market while limiting the firm's exposure to that market?
A. early entry
B. small-scale entry
C. large-scale entry
D. late entry
E. rapid entry
Answer:
The correct answer is B. small-scale entry.
Explanation:
Small-scale entry allowing the company to learn about a foreign market while limiting the company's exposure in that market, reducing the risk associated with its international activity. Small-scale entry can be seen as a way to gather information about the market before deciding to invest more resources and increase its presence.
Managers should generally consider six variables when selecting the mode of entry:
Company objectives, such as desired performance, market share, or competitive positioning the resources and capabilities of the company (financial, organizational, technological, human, etc.) foreign market conditions, such as the legal, cultural, economic environment, as well as the level of development of local infrastructure the risks inherent in any type of mode of entry in relation to the company's objectives of achieving internationalization the type and degree of competitiveness that exists in the target markets (current and potential) the characteristics of the product or service that you want to introduce in the foreign market.Sun Yip, the marketing manager at Bryte Systems Inc., decides to enter into foreign markets as his company has surplus amounts of fluorescent light bulbs because of an accidental overrun in manufacturing. He has little or no intention of maintaining continuous market representation. Sun Yip’s firm is at which stage of international marketing involvement?
a. aggressive foreign marketing
b. infrequent global marketing
c. global marketing
d. regular foreign marketing
e. international marketing
Answer:
b. infrequent global marketing
Explanation:
According to my research on different marketing strategies, I can say that based on the information provided within the question Sun Yip's firm is in the infrequent global marketing stage. This stage is characterized by a surplus in a product caused by variations in production levels or demand which may result in infrequent marketing overseas. Which is what is going on in this situation with the fluorescent light bulbs.
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Compare two economies A and B that start out with identical production possibilities curves. Economy A chooses an efficient point with 6 consumption goods and 3 capital goods, while economy B also chooses an efficient point, but with 4 consumption goods and 5 capital goods. In the future we can predict what?
i say its b since it kinda close too the otheres
Both economies start with identical possibilities. Economy A focuses on immediate consumption while Economy B may face more growth in the future due to the investment in capital goods. However, real world predictions would need to involve more factors.
Explanation:When comparing economies A and B, which start with identical production possibilities, the future outcomes could be different based on the different choices they've made. Economy A, with higher consumption goods and lower capital goods, is focusing more on immediate consumption. Contrastingly, economy B, investing more in capital goods, may experience growth in the long run as the capital goods could lead to more production capabilities.
However, the real-world prediction would also need to involve factors such as technology, resources and quality of goods, which are not considered in this simplified model of production possibilities curves.
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Which of the following statements is true? A. The average product of labor tells us how much output changes as the quantity of workers hired changes. B. The average product of labor is at its maximum when the average product of labor equals the marginal product of labor. C. The average product of labor is at its minimum when the average product of labor equals the marginal product of labor. D. Whenever the marginal product of labor is greater than the average product of labor the average product of labor must be decreasing.
Final answer:
Statement B is true; the average product of labor peaks when it is equal to the marginal product of labor.
Explanation:
The correct statement is B: The average product of labor is at its maximum when the average product of labor equals the marginal product of labor. This occurs at the point where adding one more worker doesn't increase the average product per worker; before this point, the average product is increasing due to the addition of workers, and after this point, it starts to decrease. This scenario is a reflection of the Law of Diminishing Marginal Product, which indicates that beyond a certain point, adding additional workers will result in lesser increments of output due to limitations such as fixed capital.
When an organization’s human resource department deals primarily with improving the productivity of the people within the organization, the department is consistent with the ______ view of human resource management.
Answer:
The answer is: Systems Perspective of the Human Resource Management
Explanation:
The systems perspective considers the organization in terms of;
Input - Throughput - Output,
Input: organized activities of employees.Throughput: Transformation of energies within the system.Output: Resulting product or serviceHRM´s role is to:
Competence management: Ensure that the employees have the required skills and abilities to provide the input needed by the organization. Behavior management: Evaluate employees´ performance and pay systems to ensure job satisfaction. Ensure employees work according to the organizational strategy, ultimately boosting productivity. In closed systems, create methods to safeguard the technological core from the environment. In open systems, facilitate interactions with the environment.Tri Fecta, a partnership, had revenues of $367,000 in its first year of operations. The partnership has not collected on $45,800 of its sales and still owes $39,600 on $240,000 of merchandise it purchased. There was no inventory on hand at the end of the year. The partnership paid $26,200 in salaries. The partners invested $47,000 in the business and $26,000 was borrowed on a five-year note. The partnership paid $2,860 in interest that was the amount owed for the year and paid $9,300 for a two-year insurance policy on the first day of business. Ignore income taxes.
Compute the cash balance at the end of the first year for Tri Fecta.
a) $ 332,110
b) $ 161,640
c) $ 166,290
d) $ 155,440
Answer: $ 155,440
Explanation:
Receipt:
Cash received from customer(367,000 - 45,800) 321,200
Investment 47,000
Borrowed money 26,000
Total Receipts 394,200
Disbursement:
Payment to vendor(240,000 - 39,600) 200,400
Salary 26,200
Interest 2,860
Insurance policy 9,300
Total Disbursement (B) 238,760
Cash balance (A - B) 155,440
According to the law of demand,
a. a decrease in price increases demand.
b. an increase in price decreases demand.
c. an increase in income increases demand.
d. a decrease in price increases quantity demanded.
Answer:
d. a decrease in price increases quantity demanded.
Explanation:
Law of demand: According to the law of demand, if the price of the good decreases, the quantity demanded would increase and vice versa. It shows an inverse relationship between price and quantity demanded. That's why its curve is always downward sloping
It effects the price and quantity demanded only and other things remain constant.
"" The theory of comparative advantage shows that the gains from international trade do not just result from the absolute advantage of producing at lower cost, but also from pursuing comparative advantage and producing at a lower ________________.
Answer: Opportunity cost
Explanation:
According to the theory of comparative advantage, a country has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodity is lower in that country as compared to the other country.
So, gains from trade would results not only from producing at a lower cost that is an absolute advantage but also from lower opportunity cost that is a comparative advantage.
Shaniqua s restaurant utilizes a contribution margin pricing system. She would like the selling price of a new menu item she is introducing to be $10.00. Her required contribution margin is $4.00. Her labor costs are 30%. What is the amount her kitchen staff can spend on product cost when making the item?
Answer:
Her kitchen Staff can spend up to $3.00 on product cost.
Explanation:
Selling price= $10.00
Margin= $4.00
Labor costs = $10.00*30% = $3.00
Selling Price = Contribition margin + Labor costs + Product Cost.
Isolating Product cost from the equation:
Product cost = Selling price - (Contribution margin + Labor costs)
Product cost = $ 10.00 - ($4.00 + $3.00)
Product cost = $ 10.00 - $7.00
Product cost = $ 3.00
The max. amount that kitchen staff can spend on product cost is: $ 3.00
Intellectual property protection, nondisclosure agreements, assignments of inventions and, covenants not to compete and license agreements are most likely related to which support activity in the value chain:a. Firm infrastructure
b. Technology development
c. Procurement
d. None of these are correct.
Answer:
The correct answer is b. Technology development.
Explanation:
Technological development is defined as the systematic use of knowledge and research directed towards the production of materials, devices, systems or methods including the design, development, improvement of prototypes, processes, products, services or organizational models.
Starting from the fact that technological knowledge is essentially composed of technical information, know-how, inventions, guides, manuals, procedures, among other intangible elements, before which, intellectual property comes to play a decisive role in the protection and management of These elements of an intangible nature, and therefore, knowledge-generating institutions such as universities, increasingly resort to intellectual property to understand what kind of intangible intellectual property assets exist in their technology, how to manage them during the transfer process, and of course having the necessary control to be able to monetize them, that is, to obtain profit through their exploitation.
Real estate brokers and their salespersons facilitate __________ by promoting the sale/lease of property, providing information which buyers and sellers can use to make decision, assisting principals in the negotiations process, and shepherding the sale to a closing.
Answer:
The correct answer is Transferability.
Explanation:
The term of transferability indicates the speed with which competitors can mimic the processes on which a company's competitive advantage is based. It also refers to the ease of certain raw materials to be taken from one place to another.
Lina purchased a prepaid phone card for $15. Long distance calls cost 16 cents a minute using this card. Linda used her card only once to make a long distance call. If the remaining redit on her card if $10.52, how many minutes did her call last?
Answer:
Lina spent 28 minutes on the call.
Explanation:
let n be the number of minutes lina made a call
then:
cost of long distance call is 16 cents/min = 0.16 dollars/min
number of dollars spent on the long distance call = 0.16n
if the total dollars of the phone card is $15 and the remaining dollars after the call is $10.52, this implies that:
$15 = $10.52 + (0.16n)$
n = (15 - 10.52)/0.16
= 28
Therefore, lina spent 28 minutes on the call.
Ethel and Jan have just started a new company, Jantel Inc., and are having trouble deciding which marketing path to take to drive sales. Ethel believes they should follow a make-and-sell philosophy that focuses on improving their product, whereas Jan believes they should be more customer-oriented and find the right products for their customers. Which of the following BEST describes this situation? Should Jantel, Inc., follow a product or marketing concept?
Answer:
The answer is: Jantel Inc. should follow a marketing concept
Explanation:
If Jantel Inc. is going to manufacture or produce some super groundbreaking mega exceptional product that every will want to have because of how good it is, then it´s ok to follow a make and sell philosophy. That´s the only reason why a company should only focus on how good your product is.
But if Jantel Inc. is not inventing something life changing as the Iphone or the internet, then they will have to be more consumer oriented. This has become a universal truth all around the world.
The world of full of thousands of great products that someone wants and needs to sell to you, but you only buy a tiny fraction of them. So as a customer you decide which product to buy based on the seller´s marketing actions.
The only possible exceptions to this rule are commodities, i.e. farmers grow soybeans and corn the best they can because someone will be willing to buy all they can produce.
So unless Janitel Inc. is a mining company, a farm or an oil company, or Ehtel and Jan are the reincarnations of Steve Jobs, then they should definitely focus on consumers.
An increase in the number of bakeries in an area would most likely cause what change to the supply of baked goods?
Decrease in the quantity supplied of baked goods
Decrease in the supply of baked goods
Increase in the quantity supplied of baked goods
Increase in the supply of baked goods
Answer:
Increase in the quantity supplied of baked goods
Explanation:
Law of supply: The law of supply deals with the price and quantity supplied and other things remain constant.
It shows a direct relationship between the price of goods and the quantity supplied of a goods, that means when the number of bakeries are increased, then the quantity supplied of baked goods would be increased.
All other options are incorrect, except 3rd option
Answer:
I didn't get the answer right but to help with process of elimination "Increase in the quantity supplied of baked goods" is INCORRECT. Good luck <3
Explanation:
What are the factors used to measure the "multinationality" of a company? Multiple Choice
- Ratio of foreign sales to total sales
- Ratio of foreign sales to total assets
- Ratio of foreign employees to total employees
- All answers are correct
The multinationality of a company is measured by the ratio of foreign sales to total sales, the ratio of foreign employees to total employees, and the ratio of foreign assets to total assets, concluding that all presented answers are correct.
Explanation:The multinationality of a company can be measured using various factors that indicate the extent of a company's international activities compared to its total business. Three main factors are commonly used to gauge this:
The ratio of foreign sales to total sales, which shows what portion of a company's revenues comes from markets outside its home country.The ratio of foreign employees to total employees, indicating the proportion of the workforce that is based in other countries.The ratio of foreign assets to total assets, reflecting how much of the company's capital investment is held outside the home country.All of these metrics contribute to understanding a company's degree of globalization and international presence. Hence, the correct answer to the multiple-choice question is: 'All answers are correct.'
You work for a large manufacturing plant. Your firm is thinking of initiating a new project to release an overseas product line. This is the company's first experience in the overseas market, and it wants to make a big splash with the introduction of this product. The project entails producing your product in a concentrated formula and packaging it in smaller containers than the U.S. product uses. A new machine is needed in order to mix the first set of ingredients in the concentrated formula. Which of the following actions is the next best step the project manager should take?
A. The project manager should document the project's high-level requirements in a project charter document and recommend that the project proceed.
B. The project manager knows the project is a go and should document the description of the product in the statement of work.
C. The project manager should document the business need for the project and recommend that a feasibility study be performed to determine the viability of the project.
D. The project manager should document the needs and demands that are driving the project in a business case document.
Answer:
C.
Explanation:
Since that is the company's first experience in the overseas market, the project manager should apply a feasibility study, because is entering in new markets that he doesn't know. In that case he must be able to determine the possible success and profitability of this actions.
So, it's negligent of his if he doesn't run an feasibility analysis.
The next best step for the project manager is to document the business need for the overseas product line project and recommend conducting a feasibility study to assess its viability. Therefore, option C is correct.
A project manager is a professional responsible for planning, organizing, and overseeing the execution of projects within an organization. They are tasked with ensuring that projects are completed successfully, on time, and within budget.
The project manager's role involves defining project objectives, developing project plans, coordinating resources, managing stakeholders, and monitoring project progress.
They are responsible for assigning tasks, communicating with team members, and resolving any issues or risks that may arise during the project lifecycle.
The project manager serves as a central point of contact, facilitating collaboration and ensuring project deliverables align with the organization's goals and objectives.
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Jack enters into a contract with Jill’s Farm to provide water for Jill’s irrigation needs. Jack fails to deliver. Jill initiates a suit against Jack, asking the court to order Jack to perform. Jill is the:
Answer:
Plaintiff
Explanation:
The Plaintiff is the person who brings the case against the another in the court of the law.
On the other hand, the defendant is the person who defends himself/herself against the suit filed by Plaintiff in the court of the law.
In the given case, Jill has filed the suit against Jack in the court of the law which means that Jill is the Plaintiff.
Caitlyn and Tristan have a dream of opening a bed and breakfast in a coastal town. They have started saving money and visiting potential towns. Which one of John Gottman's seven main principles are they displaying?
a. Establishing love maps
b. Letting your partner influence you
c. Nurturing fondness and admiration
d. Creating shared meaning
Answer:
The correct answer is d. Creating shared meaning.
Explanation:
The concept of "Shared Meanings" refers to those ideas or mental contents that expressed through terms or words have been conventionally set to establish the possibility of communicating between different individuals of a given society. Through shared meanings it is possible to establish a common sense for all men in the world, which facilitates communication and coexistence between them.
The concept of meaning, in turn, comes from semiotics and Saussure defined it as the mental image that man associates with a sign (word or term) when he hears or reads it; once that idea or mental content is shared with the other, one can speak, then, of a shared meaning.
The right answer to that question is a) Establishing love maps
Further explanationProfessor John Gottman, a psychologist from the Dominican Republic who focuses on marriage reveals that there are 7 principles that you can apply if you want to maintain love in marriage including the following.
1. Establishing love maps
Try to dig in and recall the information you have about your partner. What is the dream of a couple before marriage? What is his hope? What is his fear? Once you know, try to help him realize his dream. Even though the dream sounds trivial, don't underestimate it. Be a person who supports a partner. Try to understand his dreams and fears. Do not let anyone else who can understand it better than you and make him turn to another heart.
2. Nurture Your Fondness and Admiration
Maintaining a positive outlook on a partner is not easy. If you are married, people often stop admiring their partners. It's not uncommon for you to tell your partner's needs and keep complaining Look at the positive things that couples do.
3. Turn toward each other instead of away
Caring for each other, even if the slightest thing is to do it together, because it creates a sense of happiness between couples, not ignoring each other, helping each other when experiencing difficulties also includes ways to remain harmonious.
4. Let Your partner influence you
Getting used to always making decisions together, because if you have a family that lives not only one individual but two individuals often have different opinions. Consider each other's perspectives and feelings, and find a meeting point for both parties.
5. Solve your solvable problems
Resolving a conflict with a cool head, there are several steps to resolve the conflict:
Start the rooting softlyMake and receive corrective efforts from a partnerCalm yourselfCompromiseTolerance6. Overcome gridlock
Know the reasons why dreams are not achieved.
7. Create shared meaning
Take the time to date the two at least once a month. If you don't have time, try it every 2-3 months. Let's just say you're dating. Without children, other families or friends.
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Kraft's ________ gathers daily sales data and sorts it by product line and by region. The marketing managers use the data to evaluate the market share of different Kraft products compared to one another and to competing foods in each region where the company does business.
Answer:
Marketing information system.
Explanation:
Technology and information gathering are increasingly accessible. The relationship between customer and management enhanced. Permits internal reaserch and quik information gathering. The access to valuable information sources array.
A marketing information system is a framework for managing and structuring information gathered from internal and external sources. Begins and ends with information users. Interacts with information users to assess information.
A database is a single source data provided by single marketing reaserch firm.
A marketing decisions support systems is a customized computer software that aids marketing managers in decision making.
Actual fixed overhead for Kapok Company during March was $92,780. The flexible budget for fixed overheadthis period is $89,000 based on a production level of 5,000 units. If the company actually produced 4,200 units what is the fixed overhead volume variance for March?
A. $ 3,780 favorable.
B. $18,020 unfavorable.
C. $14,240 unfavorable.
D. $ 3,780 unfavorable.
E. $14,240 favorable.
Answer:
D. $ 3,780 unfavorable.
Explanation:
The computation of the fixed overhead volume variance is shown below:
= Actual fixed overhead - budgeted fixed overhead
= $92,780 - $89,000
= $3,780 unfavorable
Since the actual fixed overhead is more than the budgeted fixed overhead by $3,780 which reflect unfavorable variance.
The production level would not be considered in the computation part. So, it is ignored.
Finke Company's employees are paid each Friday for hours worked the previous week. At the end of the accounting period, Finke Company accrues $3,200 for earned salaries that have not yet been paid. Which of the following best describes this accrual transaction type?
a. Asset source transactionb. Asset use transactionc. Asset exchange transactiond. Claims exchange transaction
Answer: Claims exchange transaction
Explanation: In simple words, these are the transactions that do not change the level of total claims, that is, these transactions results in increase on one claim and decrease of the other.
In the given case, the company accrues $3200 to its employees. This transaction will have a dual effect of increase in liabilities and decrease in retained earnings, so the overall claims will remain unchanged.
Hence we can conclude that the correct option is D .
People choose between competitors largely because of their _______ -meanings that have been carefully crafted with the help of legions of rock stars, athletes, slickly produced commercials, and many millions of dollars.A. narrative clipsB. role theoryC. needD. consumer behaviorE. brand images
Answer:
The answer is: Brand Images
Explanation:
A company´s brand image is how customers "view them". It´s the impression they have formed in their mind about how a particular brand is, what it represents and what things are associated with them. It´s a process that is usually developed over a period of time.
For example when you hear the words Mercedes Benz, you immediately associate that brand with luxury cars and an expensive lifestyle (that´s their brand image). Most people are surprised when they realize MB also manufactures utility vehicles, trucks, military transports, and small (and not very expensive or luxurious) cars.
Accounts Receivable has a balance of $ 4 comma 000$4,000, and the Allowance for Bad Debts has a credit balance of $ 450$450. The allowance method is used. What is the net realizable value of Accounts Receivable after a $ 140$140 account receivable is written off?
Answer:
What is the net realizable value of Accounts Receivable after a $ 140$140 account receivable is written off? is $3550
Explanation:
Account receivable 4000
Allowance bad debts 450
Net realizable =(400-140)-(450-140)
=3860-310
=3550
Imperfect markets: do not exist in democracies. always result in supply exceeding demand. always result in demand exceeding supply. occur when the buyer or seller has an influence on the price. can’t occur if there are many buyers and many sellers.
Answer:
The correct answer is: when buyers and sellers have influence on price.
Explanation:
The imperfect market situations exist when there are few buyers or sellers such that they are able to influence the market. For instance, in a perfectly competitive market, there is a large number of buyers and sellers. So, any single buyer or seller is not able to influence the market. The price and output are determined by the market forces.
In an imperfect market such as monopoly or oligopoly, few firms exist so they are able to fix output and price on their own.
During the meeting Malcolm constantly reminds the rest of the team that he is in charge of this project, and it must be carried out according to the wishes of the Schumacker’s upper management so they can attract new clients. Malcolm seems to be drawing from which source of power?a. Legitimateb. Coercivec. Rewardd. Experte. Referent
Answer:
The correct answer is b) Coercive
Explanation:
The term Coercive refers to the use of force or power to influence someone, sometimes, through punishments. The government uses coercive power through the army to regulate a nation according to the norms and policies of the country. Malcolm is using coercive to make sure and show to the team that the project is handling by him.
b. Coercive
Further Explanation
Coercion is the practice of forcing others to behave spontaneously (either through action or inaction) by using threats, rewards, or intimidation or other forms of pressure or force. In law, coercion is codified as coercion. The act is used as an influence, forcing the victim to act the way she wants. Coercion may involve the actual suffering of physical pain/injury or psychological damage in order to increase the credibility of the threat. The threat of further damage can lead to cooperation or obedience to people who are forced. Torture is one of the most extreme examples of severe illness that is coercion that is caused until the victim provides the desired information.
Forced or compulsory labor is all work or services that are forced on anyone with any threat of punishment because that person does not voluntarily provide.
Debt-related slavery is one example of forced labor. We are forced to work far beyond capacity because we are unable to repay debts. As an example of farmers, by establishing a profit-sharing system (of course the lender gets far more than the borrower/farmer) the lender forces the farmer to work extra to pay off his debts.
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Eric is a sales rep for an established building materials manufacturer. Business is good, but he is concerned that the company has spent little on new product development and has not created a new product in over five years. Without new products, Eric can market his current products only to his current customers or
A. diversify.
B. intensify his prototyping.
C. expand his early adopter market segment.
D. market the same products to similar customers.
E. focus on concept testing.
market the same products to similar customers
When a supplier offers a lower price for a larger quantity, the buyer should: _________
a) Always take the quantity discount.
b) Never take the quantity discount.
c) Determine the return on investment.
d) Order according to the eoq model.
e) Determine the preference of senior management.
Answer:
The correct option is (c)
Explanation:
Return on investment measures the attractiveness with respect to an investment. It evaluates the efficiency of a particular investment as compared to other investment opportunities.
It is computed by subtracting cost of investment from current value and divide the result by the cost.
In this case, buyer should estimate the return on investment in purchasing larger quantity to get discount and compare it with other investment opportunities. If it offers higher returns, then the buyer should go for this.
The ethics code at the company where quincy works sets forth a strict "no tolerance" policy for accepting gifts from suppliers or vendors and outlines the penalties for violating this policy. based on this information, it appears that this policy is a(n)
Answer:
The correct answer would be, It appears that his policy is Compliance Based Ethics Codes.
Explanation:
Compliance based ethics codes are basically the ethical standards. These standards emphasize on the use of ethics at every level and prevent unlawful behavior by controlling the unethical behaviors and charging the wrong doers with penalties.
So if a company has such rules where there is a strict restriction on accepting gifts from suppliers or vendors and outlines the penalties for violating the rules, then this company is practicing the Compliance Bases Ethics Codes.
The company's strict 'no tolerance' gift policy is part of its code of ethics, similar to codes provided by professional organizations like IEEE-CS, to ensure corporate responsibility and ethical behavior.
Explanation:The policy mentioned is an example of a code of ethics, which is common in both business environments and professional organizations. For instance, the Institute of Electrical and Electronic Engineers Computer Society (IEEE-CS) has established a code of ethics for software engineers, highlighting the importance of approving software only after it passes stringent specifications, and safety assessments and does not negatively impact the environment or personal privacy. This strict adherence to ethical practice within a company or organization fosters corporate responsibility and aligns operational activities with broader social and moral norms.
Unearned revenue
a. is recorded when services have been performed for the customer.
b. is recorded in an asset account (other than cash) when cash is received.
c. represents future revenue.
d. All of these choices are correct.
Answer:
B.
Explanation:
Unearned revenue is money received for a job that hasn't been done yet. It's money for a future service that the company will give. Obviously, it's an advantage to the Company because from a Cashflow perspective.
Answer:
C
Explanation:
Unearned revenue represents future revenue.
May 31, 2018 June 30, 2018Total Assets $211,000 $209,000Total Liabilities 133,000 99,000Begin by identifying the accounting equation and the formula expressed by the statement of owner's equity (the "equityequation"): (Abbreviation used: Account. = Accounting.)Account. equation: =Equity equation: =For each of the following situations that occurred in June, 2018 with regard to own-er’s contributions and withdrawals, compute the amount of net income or net loss during June 2018.(Use a minus sign or parentheses for a netloss.)a. The owner contributed $25,000 to the business and made no withdrawals.Net income(loss) = $b. The owner made no contributions. The owner withdrew cash of $7,500.Net income(loss) = $c. The owner made contributions of $35,000 and withdrew cash of $22,000.Net income (loss) = $
Answer:
a. $7,000
b. $39,500
c. $19,000
Explanation:
a. The computation of the net income or net loss is shown below:
= (June 30,2018 assets - June 30,2018 liabilities - contribution) - (May 31,2018 assets - May 31,2018 liabilities)
= ($209,000 - $99,000 - $25,000) - ($211,000 - $133,000)
= $85,000 - $78,000
= $7,000
b. The computation of the net income or net loss is shown below:
= (June 30,2018 assets - June 30,2018 liabilities + cash withdrawn) - (May 31,2018 assets - May 31,2018 liabilities)
= ($209,000 - $99,000 + $7,500) - ($211,000 - $133,000)
= $117,500 - $78,000
= $39,500
c. The computation of the net income or net loss is shown below:
= (June 30,2018 assets - June 30,2018 liabilities + cash withdrawn - contribution) - (May 31,2018 assets - May 31,2018 liabilities)
= ($209,000 - $99,000 + $22,000 - $35,000) - ($211,000 - $133,000)
= $97,000 - $78,000
= $19,000
To calculate the net income or net loss for different situations involving owner's contributions and withdrawals, we need to find the change in total assets and total liabilities from May 31 to June 30. The net income or net loss can be calculated by subtracting the change in total liabilities from the change in total assets.
Explanation:In this question, we are given the total assets and total liabilities for two different dates (May 31, 2018 and June 30, 2018). We are then asked to calculate the net income or net loss for three different situations that occurred in June 2018, involving the owner's contributions and withdrawals. Let's go step by step to solve each situation:
a. The owner contributed $25,000 to the business and made no withdrawals.
To calculate the net income or net loss, we need to find the change in total assets and total liabilities from May 31 to June 30. The change in total assets is $209,000 - $211,000 = -$2,000. The change in total liabilities is $99,000 - $133,000 = -$34,000. Therefore, the net income or net loss is -$2,000 - (-$34,000) = $32,000.
b. The owner made no contributions. The owner withdrew cash of $7,500.
The change in total assets is $209,000 - $211,000 = -$2,000. The change in total liabilities is $99,000 - $133,000 = -$34,000. Therefore, the net income or net loss is -$2,000 - (-$34,000) = $32,000.
c. The owner made contributions of $35,000 and withdrew cash of $22,000.
The change in total assets is $209,000 - $211,000 = -$2,000. The change in total liabilities is $99,000 - $133,000 = -$34,000. Therefore, the net income or net loss is -$2,000 - (-$34,000) = $32,000.