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3 years ago

Your brother is starting 9th grade next year and is thinking about going to college.

Business

1 answer:

salantis [7]3 years ago

4 0

Answer:

Your brother is starting 9th grade next year and is thinking about going to college.

What steps would you recommend he take?

Meet his guidance counselor and fill out the FAFSA form.

E.Both A & C

Explanation:

It is always advisable for anyone who wishes to advance in their career to join college. Colleges are institutions of higher learning that provides educational services to students seeking career proficiency. For a student who has an interest in joining college, there are various steps that he/she can take to prepare. They are;

1. Meet his guidance counselor: a guidance counselor is an employed person usually in an school to offer assistance to students regarding various issues. Some of the services they offer are; to assist troubled students, help in advising students when there is conflict and assist them in making college and career plans. In our case, your brother could gain a lot form the guidance counselor especially on college plans. The counselor can teach the student on ways of formulating a good college plan so that their application can be timely and effective.

2. Fill out the FAFSA form: a FAFSA form is also known as Free Application for Federal Student Aid. FAFSA is a federal program that provides aid to students in the form of; grants, loans, and work-study.

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Marcelino Co.'s March 31 inventory of raw materials is $80,000. Raw materials purchases in April are $500,000, and factory payro

Roman55 [17]

Answer:

Marcelino Co.

Journal Entries:

Debit Raw materials $500,000

Credit Accounts Payable $500,000

To record the purchase of raw materials on credit.

Debit Factory payroll $363,000

Credit Cash $363,000

To record payment for factory payroll.

Debit Work in Process:

Job 307 $135,000

Job 307 $220,000

Job 308 $100,000

Credit Raw materials $455,000

To record direct materials used in production

Debit Work in Process:

Job 307 $42,500

Job 307 $75,000

Job 308 $52,500

Credit Factory overhead $170,000

To record overhead applied.

Debit Factory overhead $175,000

Credit Raw materials $50,000

Factory payroll $23,000

Factory rent $32,000

Factory utilities $19,000

Factory equipment depreciation $51,000

To record actual factory overhead costs.

Debit Finished Goods Inventory $828,500

Credit Work in Process:

Job 306 $321,500

Job 307 $507,000

To record the cost of finished goods transferred.

Debit Cost of goods sold $321,500

Credit Finished goods inventory $321,500

To record the cost of goods sold.

Debit Cash $635,000

Credit Sales Revenue $635,000

To record the receipt of cash for sales.

Debit Cost of Goods Sold $5,000

Credit Factory overhead $5,000

To record underapplied overhead.

Explanation:

a) Data and Calculations:

Raw materials inventory, March 31 = $80,000

Raw materials $500,000 Accounts Payable $500,000

Factory payroll $363,000 Cash $363,000

Overhead costs incurred in April :

Indirect materials $50,000 Raw materials $50,000

Indirect labor $23,000 Factory payroll $23,000

Factory rent $32,000 Cash $32,000

Factory utilities $19,000 Cash $19,000

Factory equipment depreciation $51,000 Accumulated depreciation $51,000

Total overhead incurred = $175,000

Predetermined overhead rate = 50% of direct labor cost

Sale of Job 306 for cash = $635,000

Job 306 Job 307 Job 308 Total

Balances on March 31

Direct materials $29,000 $35,000 $64,000

Direct labor 20,000 18,000 38,000

Applied overhead 10,000 9,000 19,000

Costs during April

Direct materials 135,000 220,000 $100,000 $455,000

Direct labor 85,000 150,000 105,000 340,000

Applied overhead 42,500 75,000 52,500 170,000

Total costs $321,500 $507,000 $257,500 $1,086,000

Status on April 30 Finished (sold) Finished (unsold) In process

3 0

3 years ago

Economic profits and lossesa. equalize the distribution of income in the long run. b. are essential to the reallocation of resou

MatroZZZ [7]

Answer:

The correct answer is letter "B": are essential to the reallocation of resources from less desired to more desired goods.

Explanation:

Economic profit is the difference between the company's profits from revenue and the overall opportunity cost. The difference between accounting profit and economic profit is significant. Only total revenue minus the explicit cost of producing goods or services is considered to calculate the accounting profit.

The economic profit is called a loss if after subtracting the opportunity costs from revenue the figure is negative. <em>Both profit or losses determine how resources will be allocated in a company prioritizing the more desired goods or those who are needed for the firm's operations.</em>

7 0

3 years ago

When you download and print the NCAA Basketball Tournament bracket (a paper to pick who you think will win the NCAA Men's Basket

Anni [7]

Answer:

2. Unilateral contract

Explanation:

Because in a unilateral, or one-sided, contract, one party, known as the offeror, makes a promise in exchange for an act (or abstention from acting) by another party, known as the offeree.

5 0

3 years ago

Match each of the following scenarios with the accounting principle or accounting assumption that it best illustrates.a. Several

Orlov [11]

Answer:

Key S - Scenario

A - Accounting Principle or Assumption

Several years after Thomas Company purchased new office equipment, the company’s accounting records still show the original purchase price.

Historical cost principle

The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company’s assets.

Business entity assumption

Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses.

Going concern assumption

Thomas records expenses incurred to produce the sales for the month.

Expense recognition principle

GGE Enterprises records a deposit received from a customer for work to be performed later in the month. The customer is billed for the remaining amount after the work is complete, and the customer’s payment is recorded.

Revenue recognition principle

Thomas Company provides earnings information to investors at the end of every quarter.

Time period assumption

The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm.

Monetary unit assumption

Explanation:

5 0

3 years ago

Give examples if operational conflicts that could occur in a cross- cultural context because of different attitudes towards:1) t

DanielleElmas [232]

The correct answer to this open question is the following.

Give examples of operational conflicts that could occur in a cross-cultural context because of different attitudes towards:1) time, 2) individualism.

Well, let's start with time. In the United States, time is of the utmost importance. There we have the old saying: "Time is money."

In the workplace, everything is based on the smart and efficient use of time. No time must be wasted in the workplace.

Individual effort is important in the American culture, but the team effort, the concept of being a good team player is very important under the following premise: teams can accomplish more than individuals.

What most Americans desire is individual recognition through team effort.

That is why team sports are so good in the United States because they exemplify the way teams function and what they can accomplish. For instance, college and pro football, basketball, and baseball.

The region that has a different approach, is Latin America. This does not mean that is better than the other, just that there are major differences between the two.

The management of time is very different in Latin American countries. It is not as important as the US. People in Latin America approach the concept of time in a more relaxed way. In Latin America, there is a more relaxed approach to time. Nothing is urgent, Things take time. Things are made at a different pace compared to the US.

And regarding individualism, Latin American people tend to prefer to be more individualistic to do things trying to get some recognition, The team concept is not as developed as in the US.

5 0

3 years ago