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RSB [31]
3 years ago
14

In 2019, Chaya Corporation, an accrual basis, calendar year taxpayer, provided services to clients and earned $25,000. The clien

ts signed notes receivable to Chaya that have a fair market value of $22,000 at year-end. In addition, Chaya sold a 36-month service contract on June 1, 2019, and received payment in full of $12,000. How much income does Chaya report from these transactions in 2016? Round any division to four decimal places. If required, round your final answer to the nearest dollar.
Business
1 answer:
Pie3 years ago
7 0

Answer: $27,333

Explanation:

Data:

Amount earned = $25,000

Amount received = $12,000

Using accrual method of accounting, income and expenses are recognized as it is being made or earned irrespective of the amount of cash paid or received.

Fair market value = payment received * 7/36

= $12,000 * 7/ 36

= $2333.333

Chaya reported income = amount earned + fair market value

= $25,000 + $2333.333

= $27,333.

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In a sell or process further decision, which of the following costs is relevant?
Alona [7]

Answer: a. Only I

Explanation:

In a sell or process further decision, the only cost that is relevant is the variable production cost that is incurred after split-off.

It should be noted that a split-off is when the parent company of an organization uses specified terms to divests its business unit

6 0
4 years ago
If the fed conducts open-market sales, the money supply
quester [9]

When the Fed buys government bond from a bank, then, bank will acquires money which it can lend out, thus, leading to an increase to money supply.

The open market operations entails the purchase and sales of government bonds by the Federal Reserve (Fed).

  • When Fed purchases government securities on open market,, this increases the reserves of commercial banks, increases the price of government securities, reduces overall interest rates etc.

Therefore, when the Fed buys the government bond from a bank, then, the bank will acquires money which it can lend out, thus, leading to an increase to money supply.

Read more about this here

<em>brainly.com/question/2302861</em>

6 0
3 years ago
Given below is an excerpt from a management performance report:
pychu [463]

Answer:

The answer is b. manager's overall performance is 20% above expectations.

Explanation:

The budget overall performance is:  Budgeted Contribution margin - Budgeted Controllable fixed costs = 1,000,000 - 500,000 = $500,000;

The Actual overall performance is:  Actual Contribution margin - Actual Controllable fixed costs = 1,050,000 - 450,000 = $600,000;

Variance in dollar term of actual overall performance over budget overall performance = $600,000 - $500,000 = $100,000

% variance of actual overall performance over budget overall performance = 100,000/500,000 = 20%

Thus, actual overall performance is 20% above expectation.

5 0
4 years ago
What are the differences you see between a culture of accountability, where people are held accountable for the mistakes they ma
DaniilM [7]

Explanation:

<u>The culture of accountability</u> is primarily characterized by the accountability that all employees of the organization have with their positions and tasks. In this culture, a mistake made requires accountability of the employee, which can result in negative consequences, so responsibilities for tasks are handled proactively before an error occurs, not reactive after it occurs.

The differences between the culture of accountability and <u>Just culture</u>, are that while accountability promotes responsibility for the non-occurrence of errors, in Just culture errors are perceived as natural and present in any activity, and that any professional competent as it may be, it is liable to make mistakes, as many of the errors are unpredictable occurrences between workers and the systems in which they work. Therefore this culture prioritizes learning through mistakes, organization and prudence.

Each approach to organizational culture has its pros and cons. The culture of accountability promotes work that is done more efficiently due to the sense of responsibility imposed, but can also present the downside of diminishing innovation and collaborating with different ideas, due to the emphasis and fear for negative outcomes, which may diminish. employee performance.

In the just culture, pros may be related to greater employee motivation and collaboration with work innovation, due to flexibility and non-punishment for mistakes and improved learning performance. But as a downside, tasks with less responsibility and higher risk of errors may also occur due to the possibility of errors being justified.

6 0
3 years ago
"Chantel is a 62-year-old employee of a large manufacturing company. Based on the research, she will __________ compared to her
allochka39001 [22]

The question is incomplete:

"Chantel is a 62-year-old employee of a large manufacturing company. Based on the research, she will __________ compared to her co-workers in their 20s."

A) be tardy more often

B) engage in more on-the-job substance abuse

C) have more voluntary absences from work

D) comply more to the norms of the workplace

Answer:

D) comply more to the norms of the workplace

Explanation:

The answer is that based on the research, she will comply more to the norms of the workplace compared to her co-workers in their 20s because it is considered that age has an influence on human behavior and older people tend to show a more responsible behavior and adherence to the norms than people in their 20s that are more immature.

The other options are not right because they are related to irresponsible behaviors that would be more characteristic of people in their 20s.

4 0
3 years ago
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