Answer:
He has a couple of options. He can try to obtain a scholarship or he can work and save enough for school.
Answer:
c
Explanation:
1. At July 31, the company owed employees $1,300 in salaries that the company will pay in August.
2. On July 1, the company borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 12%.
3. Service revenue unrecorded in July totaled $2,400.
Required:
Prepare the adjusting entries needed at July 31, 2017.
Answer:
Amount in $
Dr. Cr.
Salaries Expense 1,300
Salaries Payable 1,300
Salaries to be paid in august
Bank 20,000
Long term loan 20,000
Loan received from bank on a 10 year note
Interest Expense 200
Interest payable 200
Expense on loan for 10 years ( 20,000 *.12*1/12)
Revenue 2,400
Receivable 2,400
Unrecorded revenue
Explanation:
1. Salaries are payable in august so a payable will be recorded for the amount. and an expense will be booked for the month.
2. Since this loan is for a period of more than 12 months so it will be treated as long term and interest on it will be calculated as mentioned above.
3. Unrecorded revenue will be recorded at mentioned above.
The operations process includes planning, preparing, executing and assessing. Option A, b and d is the correct answer.
Planning involves determining the goals and objectives of the operation, as well as developing strategies and action plans to achieve them. It includes activities such as forecasting, resource allocation, and scheduling. Option A, b and d is the correct answer.
Preparing includes getting all the necessary resources and materials ready for the operation. It involves activities such as procuring raw materials, setting up equipment, and organizing the workspace. Executing is the actual implementation of the plans and activities identified in the planning phase. It involves carrying out the tasks and processes necessary to produce the desired output or outcome. Assessing involves evaluating and measuring the performance and results of the operation. It includes activities such as monitoring and controlling the processes, gathering feedback, and making adjustments or improvements based on the assessment.
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The complete question is, "The operations process includes which of the following activities?
a. planning
b. preparing
c. marketing
d. executing and assessing"