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kondaur [170]
3 years ago
6

The main purpose of all criticism is to _______.

Business
1 answer:
Mariana [72]3 years ago
5 0

Answer: I believe it is a.

Explanation:

Criticism is supposed to encourage growth and improvement because it is showing you what you did wrong so that you can correct your mistakes. Out of that comes the growth.

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Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is Dece
Lyrx [107]

Answer:

Adjusting entries

Depreciation on the office equipment for the year is $10,300.

Dr Depreciation expense 10,300

    Cr Accumulated depreciation 10,300

Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.

Dr Wages expense 900

    Cr Wages payable 900

On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.

Dr Interest expense 1,518

    Cr Interest payable 1,518

On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.

Dr Interest receivable 1,373

    Cr Interest revenue 1,373

On April 1, 2021, the company paid an insurance company $6,600 for a two-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.

Dr Insurance expense 2,475

    Cr Prepaid insurance 2,475

$560 of supplies remained on hand at December 31, 2021.

Dr Supplies expense 1,240

    Cr Supplies 1,240

A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.

No entry is required

On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.

Dr Rent expense 600

    Cr Prepaid rent 600

             Pastina Company

             Income Statement

For the Year Ended December 31, 2021

Sales revenue $149,000

Interest revenue $1,373

Cost of goods sold -$73,000

Salaries expense -$20,100

Rent expense -$11,900

Depreciation expense -$10,300

Interest expense -$1,518

Supplies expense -$2,640

Insurance expense -$2,475

Advertising expense -$3,300

Net income = $25,140

             Pastina Company

               Balance Sheet

For the Year Ended December 31, 2021

Assets

Current assets:

Cash $32,000

Accounts receivable $40,600

Supplies $560

Inventory $60,600

Notes receivable $20,600

Interest receivable $1,373

Prepaid rent $600

Prepaid insurance $4,125

Total current assets: $160,458

Non-current assets:

Office equipment $82,400

Accumulated depreciation $41,200

Total non-current assets: $41,200

Total assets: $201,658

Liabilities and stockholders' equity

Current liabilities:

Accounts payable $31,600

Wages payable $900

Interest payable $1,518

Deferred sales revenue $2,300

Total current liabilities: $36,318

Long term debt:

Notes payable $50,600

Total long term debt: $50,600

Total liabilities: $86,918

Stockholders' equity:

Common stock $64,200

Retained earnings $50,540

Total stockholders' equity: $114,740

Total liabilities and stockholders' equity: $201,658

retained earnings = previous balance + net income - dividends = $30,000 + $25,140 - $4,600 = $50,540

                          Pastina Company

             Statement of Shareholders’ Equity

          For the Year Ended December 31, 2021

Balance on January 1: Common stock            $64,200

Balance on January 1: Retained earnings       $30,000

Net income 2021                                                $25,140

- Dividends                                                         ($4,600)

Subtotal                                                              $50,540

Balance on December 31: Common stock      $64,200

Balance on December 31: Retained earnings $50,540

6 0
3 years ago
Employer is desperate to hire sales people. Employer conducts initial telephone interviews and offers employment immediately ove
sveticcg [70]

Answer:

A. A claim by the employee will probably be based on promissory estoppel

Explanation:

Promissory estoppel doctrine refers to trying to enforce a promise. In other words, a person that makes a promise is responsible for performing it as long  as:

  1. the promissor made a promise and the promisee acted because of it
  2. the promisee relied on the promise
  3. the promisee suffers a loss due to the unfulfilled promise
7 0
3 years ago
Ways which business can overcome competition in the market environment​
AnnZ [28]
<h2><em>Ten ways to keep ahead of the competition</em></h2>

<em>Know the competition. Find out who your competitors are, what they are offering, and what their strengths and weaknesses are. ...</em>

<em>Know your customers. ...</em>

<em>Differentiate. ...</em>

<em>Step up your marketing. ...</em>

<em>Update your image. ...</em>

<em>Look after your existing customers. ...</em>

<em>Target new markets. ...</em>

<em>Expand your offer.</em>

3 0
3 years ago
Why is inflation both good and bad how does the government try to control it?
Kaylis [27]
<span>Inflation is good because it keeps the economy growing as wages increase and demand for goods goes up, but if inflation gets high then the economy can become overheated when prices go up too fast and people can't afford goods. The Federal Reserve Bank, if you're in the USA, will then raise interest rates to make loans more expensive and rewarding people for not spending money, which slows down the economy back to a healthy state.</span>
6 0
3 years ago
A JIT system uses kanban cards to authorize movement of incoming parts. In one portion of the system, a work center uses an aver
ycow [4]

Answer: 4 containers

Explanation:

The formula used to get the number of containers that are needed will be:

N = DT(1+X)/C

where,

N = total containers

D = planned usage rate used by the work center = 111 parts per hour

T = average waiting time = 100 minutes = 100/60 hours = 1.67 hours

X = inefficiency factor = 0.21

C = capacity of standard container = 5 dozens = 5 × 12 = 60 parts

N = DT(1+X)/C

N = (111 × 1.67)(1 + 0.21)/60

N = (185.37 × 1.21)/60

N = 224.2977/60

N = 3.738

N = 4 approximately

4 containers will be needed

4 0
3 years ago
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