Answer:
a. Leslie, who is independent and self-confident. She doesn’t need people to tell her what to do.
b. Malcolm, who loves to play. His last boss says that Malcolm was the "chief kid" in his last office.
c. Frankie, who has been in the toy business for 10 years and who knows what he’s doing, but who always likes testing a new idea.
Explanation:
In this scenario the CEO of a start-up toy manufacturer wants to create at least 10 wildly different toys in the next three years.
He will primarily need people that are creative and are inclined to work with new ideas.
The wrong choice will be someone who follows the rules and is stable. Such a staff will not contribute new ideas that will move the company to make profits.
Leslie is confident and does not need to be told what to do, so she will take initiative to do new things.
Malcolm loves to play and this will boost creative ideas.
Frankie likes testing new ideas and will be comfortable working creatively.
Given:
<span>stockton company adjusted trial balance december 31
cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
accumulated depreciation 1,100
accounts payable 1,900
notes payable 4,300
common stock 1,000
retained earnings 12,940
dividends 790
fees earned 9,250
wages expense 2,500
rent expense 1,960
utilities expense 775
depreciation expense 250
miscellaneous expense 185
To determine the total assets, we only have to consider the following:
</span>cash 7,530
accounts receivable 2,100
prepaid expenses 700
equipment 13,700
<span>accumulated depreciation <u> (1,100) </u>
</span>Total assets: 22,930 CHOICE D.
NET INCOME:
fees earned 9,250
<span>wages expense (2,500) </span>
<span>rent expense (1,960) </span>
<span>utilities expense (775) </span>
<span>depreciation expense (250) </span>
<span>miscellaneous expense <u> (185)</u>
</span><span>Net Income 3,580
LIABILITIES AND S.H.E
</span>accounts payable 1,900
<span>notes payable 4,300 </span>
<span>common stock 1,000 </span>
<span>retained earnings 12,940 </span>
<span>dividends (790)
</span>Net Income <u> 3,580</u>
TOTAL LIABILITIES & SHE 22,930
The FTC is empowered to enforce rules of trade regulation that define unfair or deceptive actions or practices in great detail and to report to and advise Congress on legislative matters related to the economy. This is further explained below.
<h3>What is the federal trade commission?</h3>
Generally, The Federal Trade Commission (FTC) is a non-departmental executive body of the United States government charged with protecting consumers and enforcing federal antitrust laws.
In conclusion, The FTC is empowered to enforce laws of trade regulation that define unfair or deceptive actions or practices in great detail, and it may also report to Congress on economic matters and provide policy suggestions.
Read more about the federal trade commission
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Answer:
Under the lower-of-cost-or- net realizable value basis of accounting for inventories, the value that Taylor should report for the TVs on the balance sheet is $350 × 5 = $1,750
Explanation:
The lower-of-cost-or- net realizable value basis of accounting for inventories values inventory at the lower of its cost or net realizable value. This basis of accounting gives a <em>faithful representation</em> to the users of the value of assets in inventory that firm holds. This is also <em>prudent</em> in that profits are not overstated in the Income statement.
