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2 years ago

Question 1(Multiple Choice Worth 10 points)

Business

1 answer:

san4es73 [151]2 years ago

8 0

Answer:

Option A, Increased mental stress

Explanation:

Increased mental stress is one of the possible effect of identity theft.

It can cause following negative impacts on the mental and physical health of an individual

a) It causes sleep disturbance

b) Physical symptoms such as aches and pains, heart palpitations, sweating and stomach issues arises

c) Post stress disorder

d) Anxiety

Hence, option A is correct

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Record the following transactions for Summer Consulting. Explanations are not required.

Anvisha [2.4K]

Answer:

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

Explanation:

Preparation of journal entries

Apr. 15

Dr Accounts Receivable—Jones $1,500

Cr Service Revenue $1,500

Apr. 18

Dr Accounts Receivable—Cruise $865

Cr Service Revenue $865

Apr. 25

Dr Cash $750

Cr Accounts Receivable—Jones $750

Apr. 28

Dr Accounts Receivable—Taylor $625

Cr Service Revenue $625

Apr. 28

Dr Cash $865

Cr Accounts Receivable—Cruise $865

Apr. 30

Dr Cash $1,375

Cr Accounts Receivable—Jones $750

Cr Accounts Receivable—Taylor $625

8 0

2 years ago

ADVANCED ANALYSIS Currently, at a price of $0.50 each, 100 popsicles are sold per day in the perpetually hot town of Rostin. Con

Katarina [22]

Answer:

The new Quantity to be sold at $1 is 200 in the short run

Explanation:

The question is to determine the Popsicle sold each day in the short run for a price rise of $1

The formula to use for the Price elasticity of supply in short run

(New Quantity demanded - Old Quantity demanded )/ Old Quantity + New Quantity/ 2

(New Price - Old Price) / (Old Price + New Price)/ 2

The formula can also be simply written as

[(Q2 – Q1)/{(Q1 + Q2)/2}] / [(P2 – P1)/{(P1 + P2)/2}]

Step 2: Solve using the formula

Old Quantity = 100

New Quantity = Q2

Old Price = 0.50

New Price = $1

Solve:

[(Q2 – 100)/{(100+ Q2)/2}] / [(1 – 0.50)/{(0.50 + 1)/2}] = 1

=100 + Q2= 3Q2-300

= 2Q2= 400

Q2= 400/2

Q2= 200

The new Quantity to be sold at $1 is 200

4 0

3 years ago

Kimble Company applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under-

likoan [24]

Answer:

overhead rate $4 per machien hour

applied overhead 1,560,000

The overhead was underapplied for 15,000

entry to adjust against COGS

Cost of Goods of sold 15,000 debit

Factory overhead 15,000 credit

Explanation:

$\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate$

we divide the expected overhead over the total amount of budgeted machine hours to determinate the overhead rate:

1,600,000 / 400,000 = $4 per machine hours

Actual machine hours 390,0000

applied overhead:

actual cost driver x rate per driver

390,000 x $4 = 1,560.000‬ applied overhead

Actual overhead 1,575,000

As aplies is lower, we should adjust for 15,000 difference

5 0

3 years ago

On July 28, Vent Corp. sold $500,000 of 4%, eight-year subordinated debentures for $450,000. The purchasers were issued 2,000 d

KengaRu [80]

Answer: Vent should record $70,000

Explanation:

The requirement is to determine the amount of discount on the debentures that Vent should record at issuance.

ASC Topic 470 states that the proceeds from the issuance of debt with detachable stock warrants should be allocated between the bonds and the warrants based upon their relative fair values at the time of issuance.

In this case, the fair value of the bonds is not known, but the fair value of the warrants is $10 per warrant. Thus, the total fair value of the warrants is $20,000 ($10 × 2,000 warrants). The fair value of the debentures can be estimated to be $430,000 ($450,000 total proceeds – $20,000 fair value of warrants). The face value of the bonds $500,000 less the fair value of the bonds of $430,000 equals the bond discount of $70,000.

6 0

3 years ago

All of the following are conducive to economic growth except

zysi [14]

Answer:

B. an unfavorable balance of trade and payments

Explanation:

The BOP or the balance of trade is defined as the net gains or net exports that make the balance of payments and is said to be favorable when the country export more and imports less and is a positive change.

It is said to be negative when the country imports more and exports less thus unfavorable in terms of the trade and payments.

<u>Hence it means that the country has a deficit and this can impact the services and is not good for the economic growth perspective.</u>

6 0

3 years ago