Answer:
Dr Interest Expense account 10,000
Cr Cash account 10,000
Explanation:
We have to calculate how much interest did the company paid = $100,000 x 10/12 x 12% = $10,000
Then we must record the journal entries
- Dr Interest Expense account 10,000
- Cr Cash account 10,000
Since cash is an asset and it decreases, then it should be credited.
Since interest is an expense and it increases, it should be debited.
Answer:
Hours of labor or number of workers are common ways of measuring a company's productivity.
Explanation:
Productivity refers to output per unit of input. It means efficient usage of labor, capital, land, materials, resources, energy and so on in the production of goods and provision of services. In other words, it is the efficiency of the production process or measurement of efficiency.
Answer:
1. Procurement: all the activities that go into the purchase of goods and services.
2. Marketing: presentation of goods and services to the customers with the aim of increasing sales.
3. Management: the act of controlling all the resources that go in the business in a manner to ensure that the organizational goals are met.
4. Finance is capital that is needed in business.
Explanation:
There are different aspects that ensure that a business can perform it's functions to ensure that the business goals are achieved. The four major functions of a business that will be considered are; procurement, marketing, management and finance. They are further elaborated below;
1. Procurement
Procurement can be defined as all the activities that go into the purchase of goods and services. They involve evaluating different offers from different vendors to determine the best product at an agreeable cost. most business needs resources to function. The resources can be labor or material resources. Procurement looks at ways in which these resources can be purchased with efficiency.
2. Marketing
Marketing involves the presentation of goods and services to the customers. The main aim of marketing is also to gain more customers and ultimately to increase sales. It involves the use of various marketing channels to achieve it's objective. A successful marketing strategy wins over more customers, which generally leads to more sales and profits. Since making profits is the main reason for business, a profitable marketing strategy is important for business success.
3. Management
Management is the act of controlling all the resources that go in the business in a manner to ensure that the organizational goals are met. The business resources include; human resources and material resources. When all the resources that go into a business are carefully managed, the potential of achieving organizational goals is also increased. Good management ensures business success
4. Finance
Finance is capital that is needed in business. The capital is usually monetary. Finance can be used to acquire various resources in form of salaries for laborers, raw materials and utility bills. Adequate and timely financing are needed to ensure that a business succeeds.
From the options the two techniques that should be used for smooth interoperability now and in the future are
a. Specify the legacy CRM as the system of record during transition until it is removed from operation and fully replaced by Salesforce.
b. Work with stakeholders to establish a Master Data Management plan for the system of record for specific objects, records, and fields.
Explanation:
Join the legacy CRM and Deal for interested parties are two techniques.
Indicate the conventional CRM as the record system throughout the transition up to Sales force’s removal and replacement.
Creates a comprehensive data management strategy for tracking processes for certain objects, databases, and areas, for stakeholders
What's a legacy process when it comes to CRM?
An old system mostly based on a customer-server in-house design. The application functions on a SQL Server or Oracle interface. There are one or more different application servers for Windows 2000 or 2003.
MDM (Master Data Management) is used in the sector as a tool for identifying and handling an organization's important data to provide, by data management, a single event of reference. The mastered data can include lookup tables — the collection of allowable values and quantitative data supporting decision-making.
Answer:
$60,000
$40,000
$30,000
$10,000
he can open the store
Explanation:
Explicit cost includes the amount expended in running the business. They include rent , salary and cost of raw materials
Explicit cost = $35,000 + $10,000 + $8,000 + $2,000 + $5,000 = $60,000
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. If he didn't open the dry cleaning stores he could be earning $30,000 as a manager. $30,000 is his implicit cost
Accounting profit or business profit = total revenue - explicit cost
$100,000 - $60,000 = $40,000
Economic profit = accounting profit - implicit cost
$40,000 - $30,000 = $10,000
Since his economic and accounting profit are positive, he can open the store