BUSINESS HIGH SCHOOL

Which of the following is a characteristic of a public good? a. You must pay each time you use it.
b. It is typically maintained for private use.
c. The cost to build it is the same, regardless of how many people use it. d. You can apply for one if you plan to share it with the public.

Answers

Answer 1
Answer: c, I guess?  A park is a public good.  Roads are a public good.  The initial cost to build it is the same no matter how many people use it, but the more folks use it, the higher maintenance costs will be...

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Arnez Company’s annual accounting period ends on December 31, 2019. The following information concerns the adjusting entries to be recorded as of that date.The Office Supplies account started the year with a $3,075 balance. During 2019, the company purchased supplies for $12,700, which was added to the Office Supplies account. The inventory of supplies available at December 31, 2019, totaled $2,706.An analysis of the company's insurance policies provided the following facts.Policy Date of Purchase Months of Coverage CostA April 1, 2017 24 $ 10,824B April 1, 2018 36 $ 9,576C August 1, 2019 12 $ 8,4The total premium for each policy was paid in full (for all months) at the purchase date, and the Prepaid Insurance account was debited for the full cost. (Year-end adjusting entries for Prepaid Insurance were properly recorded in all prior years.)The company has 15 employees, who earn a total of $1,900 in salaries each working day. They are paid each Monday for their work in the five-day workweek ending on the previous Friday. Assume that December 31, 2019, is a Tuesday, and all 15 employees worked the first two days of that week. Because New Year’s Day is a paid holiday, they will be paid salaries for five full days on Monday, January 6, 2020.
The company purchased a building on January 1, 2019. It cost $700,000 and is expected to have a $45,000 salvage value at the end of its predicted 40-year life. Annual depreciation is $16,375.
Since the company is not large enough to occupy the entire building it owns, it rented space to a tenant at $2,000 per month, starting on November 1, 2019. The rent was paid on time on November 1, and the amount received was credited to the Rent Earned account. However, the tenant has not paid the December rent. The company has worked out an agreement with the tenant, who has promised to pay both December and January rent in full on January 15. The tenant has agreed not to fall behind again.
On November 1, the company rented space to another tenant for $1,812 per month. The tenant paid five months' rent in advance on that date. The payment was recorded with a credit to the Unearned Rent account. Assume no other adjusting entries are made during the year.

Required:
1. Use the information to prepare adjusting entries as of December 31, 2019.
2. Prepare journal entries to record the first subsequent cash transaction in 2020 for parts c and e.

Answers

The preparation of the adjusting entries for Arnez Company is as follows:

Adjusting Journal Entries

Debit Supplies Expenses $13,069

Credit Supplies $13,069

Debit Insurance Expense $8,045

Credit Prepaid Insurance $8,045

Debit Salaries Expense $3,800

Credit Salaries Payable $3,800

Debit Depreciation Expense $16,375

Credit Accumulated Depreciation $16,375

Debit Rent Receivable $2,000

Credit Rent Revenue $2,000

Debit Unearned Rent $3,624

Credit Rent Revenue $3,624

Data Analysis and Calculations:

1. Supplies expenses = $13,069 ($3,075 + $12,700 - $2,706)

Supplies Expenses $13,069 Supplies $13,069

2. Insurance Policies:

Policy   Date of Purchase     Months      Cost          Insurance

                                         of Coverage                     Expense

A           April 1, 2017                24          $ 10,824        $1,353 ($10,824/24 x 3)

B           April 1, 2018                36           $ 9,576        $3,192

($9,576/36 x 12)

C           August 1, 2019            12           $ 8,400       $3,500

($8,400/12 x 5)

Total Insurance Expense for 2019                           $8,045

Insurance Expense $8,045 Prepaid Insurance $8,045

3. Salaries Expense $3,800 Salaries Payable $3,800 ($1,900 x 2)

4. Depreciation Expense $16,375 Accumulated Depreciation $16,375

5. Rent Receivable $2,000 Rent Revenue $2,000

6. Unearned Rent $3,624 Rent Revenue $3,624 ($1,812 x 2)

Learn more about adjusting entries at brainly.com/question/13933471

Answer:

supplies expense 13069 debit

             supplies          13069 credit

insurance expense 12,844 debit

          prepaid insurance  12,844 credit

depreciation expense  16,375 debit

        acc dep- building       16,375 credit

rent receivable    2,000 debit

   rent revenue              2,000 credit

unearned revenue  3,624 debit

   rent revenue             3,624 credit

Explanation:

cosumption of supplies:

beginning   3,075

purchases  12,700

ending        (2,706)

expense   13,069

insurance:

April 1st 24 months  10,824

April 1st 36 months    9,576

August 1st 12 months 8,400

expired insurance:

10,824 x 8/24 =    7,216

9,576 x  8/36 =   2,128

8,400 x  5/12 =  3,500  

total                    12,844‬

for depreicaiton we recognize the amount per year

the rent earned is only Decemeber so we recognize for that amount

then we have the other tenant which pais 5 months, 2 has expired so we accrued for that:

1,812 x 2 = 3,624

Professional organizations that controlled how their industry operated and protected their members' interests against outsiders were called _____.the Estates-General
Parliaments
guilds
dowries

Answers

Professional organizations that controlled how their industry operated and protected their members' interests against outsiders were called GUILDS.

During the medieval times, guilds were formed by craftsmen and artisans who were self-employed. As an organization, they became stronger in taking control of the goods and materials that are needed in honing their businesses.

The answer is giulds.

"The price of coffee increases by 10%, and as a result, Alex purchases fewer donuts. This suggests that to Alex, coffee and donuts are:"

Answers

Answer:

Complementary goods

Explanation:

Complementary goods are goods that are demanded for together or consumed together. If the demand for one of the complementary goods increases, the demand for the other good increases and vice versa.

If the price of coffee increases by 10%, the demand for coffee and doughnut would fall according to the law of demand.

I hope my answer helps you.

1 , what are the agent of socialization

​

Answers

Answer:

Agents of socialization, or institutions that can impress social norms upon an individual, include the family, religion, peer groups, economic systems, legal systems, penal systems, language, and the media.

Explanation:

Which of the following is a characteristic that can be used to guide the design of service systems? Services cannot be inventoried. Services businesses are inherently entrepreneurial. Services are all similar. Quality work means quality service.

Answers

In order to help thestudent expand his/her knowledge I will help answer the question. This in hopethat the student will get a piece of knowledge that will help him/her throughhis/her homework or future tests.

Services cannot beinventoried, this is a characteristic that can be used to guide the design ofservice systems. That is because in design organizations is one of the thingsthat they remark. They cannot inventory services. The correct answer is

Services cannot beinventoried.

I hope it helps,Regards.   

When Ramona, the keynote speaker at a major business leaders' conference, arrived in the middle of the night at the Ritz-Carlton, she was exhausted and her suit was wrinkled from her 10-hour plane trip. The night clerk found someone to dry clean Ramona's suit and have it ready for her morning presentation. She has been a loyal Ritz-Carlton customer ever since. In this example, Ritz-Carlton demonstrated the macro strategy of:________. A. promotional excellence.
B. operational excellence.
C. global excellence.
D. customer excellence.

Answers

Answer:

D. Customer Excellence

Explanation:

Customer excellence is whereby you're the greatest in making your customer extremely happy about working with you. Ritz Carlton made Ramona happy but dry cleaning the suit and making sure it was ready the next morning to be used for the presentation.

When customer excellence is provided, your customer tends to seek you out at any given time and also advertises for you by telling others like their friends.

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