Answer:
(C) Supplies 7000 Cash 7000
Explanation:
In this transaction, Willey consulting acquired $7,000 worth of supplies, which configures as a credit of $7,000 to the Supplies account. Meanwhile, the company has incurred a cash expense, which should reflect in a $7,000 debit to the Cash account.
Therefore, the answer is (C) Supplies 7000 Cash 7000.
Answer:
Comparing the ending inventory balances of FIFO and LIFO, the ending inventory value under FIFO less the ending inventory balance under LIFO will result in a difference of $(400).
Explanation:
FIFO means First In, First Out. It is one of the methods for accounting for inventory. The FIFO method assumes that inventory bought first are the first to be sold or used in production, while those bought later remain proportionately to sales or production. This is considered a realistic method for most companies.
On the other hand, LIFO, which means Last In, First Out, is another costing method for inventory. This method assumes that goods bought last are the first to be sold or used in production, while those bought earlier remain proportionately to sales or production. This method is not considered to be realistic in real life for most companies.
In calculating the cost of goods sold for the period, these two methods produce different outcomes, depending on the purchase price per unit. Where the purchase price of inventory remain the same throughout a period, there will be no difference.
For example, if the unit price for inventory remains $40 from January 1 to December 31, then there will not a any noticeable difference between the two methods.
Answer: Blue ocean strategy
Explanation:
Blue ocean strategy is the concurrent pursuit of low cost and differentiation to establish a new market space and also create new demand. The strategy is about the creation and capturing of an uncontested market thereby making competition irrelevant.
Blue oceans target markets where there are no existing competition. In blue oceans, demand is established rather than competed and this leads to rapid opportunity for growth and profitability. A blue ocean describes the broader, deeper potential that can be found in an unexplored market.
Answer:
the nominal annual interest rate on the payment plan is 15%
Explanation:
According to the question, a one-time payment for the speakers will cost $1,000
An installmental payment will have a $150 down payment and then another $100 fro ten subsequent months.
Calculating the total payment at tthe end of the payment plan will give
$150 + ($100 x 10months)
we have, $150 + $1,000 = $1,150.
This shows that at the end of the payment plan, the set of speakers would have cost $1,150 instead of $1,00 one-time payment.
Step 2:
To calculate the interest rate, we subtract the one-time price from the payment plan price and express it as a percentage of the one time price to get tthe interest rate.
$1,150-$1,000 = $150
then we have,
($150 ÷ $1,000) × 100%
= 0.15 × 100%
- 15%
The nominal annual interest rate is 15%.
Cheers.
At which level will a manager use analytics to make decisions? All of the above. A manager will use analytics to make deisions at the operational, managerial and strategic level of management. Managers need to make sure they make their decisions based off of analytics and facts not just what they think is the right decision. By using analytics, they are able to back up their decisions and explain why those are the decisions that are being made.