Fixed expenses don't change (very often)
The biggest fixed expenses you'll have in college are tuition, room and board, as well as your car payment (if you have one), car insurance premiums (if you have a car), as well as your wireless plan and internet service.
Answer:
The answer is: customer excellence
Explanation:
The night clerk is not in charge of looking for dry cleaners, he is not Maria's personal assistant nor does he own or operate a dry cleaning service. So the fact that he did more than his job requires him to do, exemplifies how Ritz-Carlton's employees are committed to providing excellent customer service.
Answer:
a) 6,730.40
b) 418
c) 131.10
Explanation:
price after trade discount:
printer = 500 x (1 - 12%) = 440
toner = 150 x (1 - 8%) = 138
since the invoice was paid during the discount period, the total amount paid on December 30 was [(440 x 10) + (20 x 138)] x (1 - 5%) = 6,730.40
net price per unit:
printer = 440 x 0.95 = 418
toner = 138 x 0.95 = 131.10
d) total cost including operating expenses = (6,730.40 x 1.15) = 7,739.96
selling price = 7,739.96 / 0.75 = 10,319.95 ≈ 10,320
e) (printer + toner) x 1.15 = (418 + 131.10) x 1.15 = 631.465
selling price of 1 printer and 1 toner = 631.465 / 0.75 = 841.95 ≈ 842
f) yes, a profit was made since the original selling price was calculated assuming a 25% net profit, and the discount was only 15%
Returning a favor is an obligation to deliver particular goods or perform certain acts according to an agreement .
<h3>
What is an obligation?</h3>
A person is required by law or morality to act in a particular way. Obligations and other restrictions limit freedom. Those who are bound by obligations may choose to do so voluntarily. There is obligation when there is a choice between what is morally right and evil. Additionally, there are responsibilities in other normative situations, such as etiquette obligations, social obligations, religious obligations, and maybe political obligations, where obligations are requirements that must be fulfilled. Although some people are required to take certain actions for other reasons, such as tradition or social obligations, these obligations are often legal mandates that may carry consequences for noncompliance.
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Answer:
The first 3 transactions only.
Explanation:
Accrual basis of accounting requires that expenses and revenue are recognized in the books as soon as they are incurred and earned respectively.
The cash basis required that transactions of expenses and revenue be recognized only when cash has been paid and received respectively.
Considering the transactions using cash-basis accounting,
1. Pay employees' salaries for the current period- Yes an expense will be recognized.
2. Pay rent in advance - Yes an expense will be recognized for the full amount paid.
3. Pay dividends to stockholders in the current period - Yes an expense will be recognized for the full amount paid.
4. Receive (but do not pay) a utility bill - No, this will be recognized when cash is paid
5. Use supplies previously purchased - This would have been recognized previously. No