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Nina [5.8K]
3 years ago
7

XYZ Movers, a professional relocation company, has 3-person teams for their moving services. The company asks customers to compl

ete a satisfaction survey regarding their recent move. For an employee's performance appraisal, customer satisfaction surveys are also considered in addition to supervisor and team member ratings.
Which of the following appraisal methods best describes this situation?

A. similar to me error
B. positive halo effect
C. 360-degree performance appraisals
D. behaviorally anchored rating scale
Business
2 answers:
mars1129 [50]3 years ago
6 0

Answer:

C

Explanation:

. 360-degree performance appraisals

The 360 degree performance appraisal system is advanced kind of appraisal which is used by  many organizations to judge the performance of employees using the review of about a range of 7 to 12 people. These people are working with the employee or the employees is rendering services to te people. The appraisal is collected in the form of reviews in terms of competencies of the employee. The employee himself or herself also takes part in this appraisal with the help of self assessment. The 360 degree performance appraisal system is a way to improve the understanding of strength and weaknesses of employee and areas that need development  

Makovka662 [10]3 years ago
3 0

Answer:

C. 360-degree performance appraisals

Explanation:

360 degree appraisal is also known as multi-rater feedback or multisource assessment. This is an appraisal systbthat uses multiple sources to rate performance. The sources used include customer feedback, subordinates, supervisors, and colleagues.

XYZ movers employs customer feedback, supervisor ratings, and team member ratings to conducts it's 360 degree performance appraisal.

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Entries and Balance Sheet for Partnership On April 1, 20Y1, Whitney Lang and Eli Capri form a partnership. Lang agrees to invest
11111nata11111 [884]

Answer:

1. April 1, 20Y1

Dr Bank $15,100

Dr Inventory $40,800

Cr Whitney Lang Capital $55,900

April 1, 20Y1

Dr Bank $52,900

Dr Equipment 43,900

Dr Account Receivable $18,700

Cr Account Payable $8,200

Cr Notes Payable 5,000

Cr Allowance for Doubtful $1,300

Cr Eli Capri Capital $101,000

2.CURRENT LIABILITIES $171,400

ASSETS $171,400

3. March 31, 20Y2

Dr Revenue $598,000

Cr Expenses $480,000

Cr Profit & Loss $118,000

March 31, 20Y2

Dr Whitney Lang Capital $40,000

Dr Eli Capri Capital $30,000

Cr Cash $70,000

Explanation:

1. Preparation of the journal entries to record the investments of Lang and Capri in the partnership accounts.

April 1, 20Y1

Dr Bank $15,100

Dr Inventory $40,800

Cr Whitney Lang Capital $55,900

($15,100+$40,800)

( Being Cash and Inventory received from Eric Keene as capital contribution)

April 1, 20Y1

Dr Bank $52,900

($101,000+$1,300+5,000+$8,200-43,900-$18,700)

Dr Equipment 43,900

Dr Account Receivable $18,700

Cr Account Payable $8,200

Cr Notes Payable 5,000

Cr Allowance for Doubtful $1,300

Cr Eli Capri Capital $101,000

( Being Capital Contribution by Renee Wallace in form of Assets, cash and Liabilities)

2. Preparation of a balance sheet as of April 1, 20Y1, the date of formation of the partnership of Lang and Capri.

Balance sheet as on April 1, 20Y1,

Particulars Amount($)

Partners Capital A/c

Whitney Lang $55,900

Eli Capri $101,000

$156,900

CURRENT LIABILITIES

Account Payable $8,200

Notes Payable $5,000

Allowance for doubtful Debts $1,300

TOTAL $171,400

($156,900+$8,200+$5,000+$1,300)

ASSETS

Equipment $43,900

Account receivable $18,700

Inventory $40,800

Cash $68,000

($15,100+$52,900)

TOTAL $171,400

($43,900+$18,700+$40,800+$68,000)

3. Preparation of journal entries to close the revenues and expenses and the drawing accounts at March 31, 20Y2

March 31, 20Y2

Dr Revenue $598,000

Cr Expenses $480,000

Cr Profit & Loss $118,000

( Being Revenue and Expenses posted to Profit & loss A/c)

March 31, 20Y2

Dr Whitney Lang Capital $40,000

Dr Eli Capri Capital $30,000

Cr Cash $70,000

($40,000+$30,000)

( Being Drawing from Capital A/c recorded)

4 0
3 years ago
Merchant Company purchased property for a building site. The costs associated with the property were: Purchase price $ 178,000 R
allochka39001 [22]

Answer:

$198,000 and $0

Explanation:

The calculation is shown below:

The Cost of the land is

= Purchase price +  Real estate commissions + Legal fees + Expenses of clearing the land + Expenses to remove old building

= $178,000 + $15,300 + $1,100 + $2,300 + $1,300

= $198,000

As the property is buy for the building site so here no cost will be recognized and allocated to the new building cost

hence, it would be zero

3 0
3 years ago
What are 4 status types that can be assigned to an estimate in QuickBooks Online?
Kipish [7]

Answer:

The status of estimates in QuickBooks Online is Pending, Accepted, Closed and Rejected.

Explanation:

5 0
3 years ago
Lance Brothers Enterprises acquired $710,000 of 4% bonds, dated July 1, on July 1, 2021, as a long-term investment. Management h
babunello [35]

Answer:

The question is missing the below requirement:

Prepare the journal entries (a) to record Lance Brothers’ investment in the bonds on July 1, 2021, and (b) to record interest on December 31, 2021, at the effective (market) rate:

The journal entries upon acquisition of the bond is shown thus:

DR Financial asset                            $710000

CR  Discount on financial asset                               $80000

CR Cash                                                                      $630000

The journal entry to record the interest on 31 December 2021 is as follows:

The interest is calculated on the par value value;

Cash $710000*4%*6/12                  $14200

Discount on bond                            $1550

Interest revenue $630000*5%*6/12                       $15750

Explanation:

The investment is recorded at the par value in financial asset account but the cash paid is lower,which means the issuer issued the bond at discount ,hence the discount of $80000 is recorded.

Also the discount is considered when the interest was calculated as the effective interest is lower than the coupon,which means the discount gotten earlier  was partial interest received in advance.

6 0
4 years ago
While auditing the financial statements of a nonissuer, a CPA was requested to change the engagement to a review in accordance w
oee [108]

Answer: Neither A not B

Explanation:

When an accountant compiles the financial statements of a nonissuer in accordance with Statements on Standards for Accounting and Review Services (SSARS), the accountant's report should include a statement: that the accountant does not express an opinion on the financial statements.

When an independent CPA assists in preparing the financial statements of a publicly held entity but has not audited or reviewed them, the CPA should issue a disclaimer of opinion. In such situations, the CPA has no responsibility to apply any procedures beyond Documenting that internal control is not being relied on.

8 0
4 years ago
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