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Questions in business

[Answered] 1. IMRF (issuing securities) 2. EUDOHOLSH (lends and borrows) 3. NGRMEVOTEN (always in shortage) 4. ASIIRNMDRTIEEE (in between debtors-creditors) 5. HNXECAEG (example) Unscramble the letters below, then discuss with your seatmate/classmate what you think is/are the role/s of each in the financial system.

[Answered] Will earns $70,000 per year, receives 10 days PTO, 6% retirement matching, and receives 60% employer-subsidized health insurance which totals $10,000. Calculate the benefit rate. | Employee Benefits | | :---------------- | :------ | | Health Insurance | 60% | | FICA | 7.65% | | Paid Vacation (PTO) | 10 days | | Retirement Matching | 6% | [ ? ]% Round to the nearest percentage point.

[Answered] Record the journal entry for each of the following transactions. Glow Industries purchases 750 strobe lights at $23 per light from a manufacturer on April 20. The terms of purchase are 10/15, n/40, invoice dated April 20. On April 22, Glow discovers 100 of the lights are the wrong model and is granted an allowance of $0 per light for the error. On April 30, Glow pays for the lights, less the allowance. Journal entries: | April 20 | | | | |---|---|---|---| | | | | | | To record inventory purchased on account. | | | | | | | | | | April 22 | | | | | | | | | | To record allowance issued. | | | | | | | | | | April 30 | | | | | | | | | | | | | | | To record payment. | | | |

[Answered] Journalize the following transactions of Mr. Rahim: 14 Paid Babu Bros. by cheque 1,000 16 Sold goods to Raj & Co. 1,000 20 Bought goods from Swamy & Bros. 1,400 23 Bought goods for cash from Nathan & Co. 450 24 Sold goods to Palani 700 26 Raj & Co., paid on account 500 27 Paid Swamy & Bros. by cheque in full settlement 1,370 31 Paid salaries 500 Rent is due to Satyan but not yet paid 200

[Answered] 1. Calculate the amount for bad debts that will be written off in September 2023. 2. Complete the Debtors' Collection Schedule for August 2023. INFORMATION: A. Extract from the Cash Budget for the two months ending 31 August 2023: | Receipts | JULY | AUGUST | |---|---|---| | Cash sales of merchandise | 64,800 | 50,400 | | Collection from debtors | 46,440 | | | TOTAL RECEIPTS | | | B. Sales, cost of sales and debtors' collection: (a) | | SALES | | COST OF SALES | | |---|---|---|---|---| | | R | | R | | | | Budgeted | Actual | Budgeted | Actual | | May | 105,000 | 78,000 | 70,000 | 52,000 | | June | 123,000 | 89,100 | 82,000 | 60,000 | | July | 108,000 | | 72,000 | | | August | 84,000 | | | | (b) 60% of the total sales are for cash. (c) Credit sales are collected as follows: * 20% collected in the month of sale to receive a 5% discount * 70% collected in the first month following the sale * 8% collected in the second month following the sale * The balance is written off in the third month following the month of sale Complete the Debtors' Collection Schedule for August 2023. DEBTORS' COLLECTION SCHEDULE FOR AUGUST 2023 | CREDIT SALES | AUGUST | |---|---| | May | 42,000 | | | June | 49,200 | | | July | 43,200 | | | August | 33,600 | |

[Answered] If you are given money for the swim team, is it okay to use it for new library books as long as the money is in the same school? A. True B. False

[Answered] I am working for Dell Cooperation as head of security for Internet purchases. My main job is to ensure secure purchases for customers and secure Dell resources. Someone on my team informed me of suspicious activity, which warranted my involvement. After digging, I traced the IP address to a person who is legally stealing customers' credit cards and adding charges of $10 per credit card. After further investigation, I found out this person has been doing it for three months and has stolen a total of $1,500,000. Further digging revealed that this person is my spouse's sibling. What is the company's social responsibility to the customer in this situation?

[Answered] Explain how to determine special event logistical requirements, citing at least 5 different examples of such logistical requirements.

[Answered] XYZ Corporation invests $[tex]$3,000$[/tex] into 91-day treasury bills with an interest rate of [tex]$2.9 \%$[/tex]. If the broker charges a $[tex]$30$[/tex] commission, what is the yield? [tex] \begin{array}{c} \text { yield }=[?] \% \\ \text { yield }=\frac{\text { amount invested (interest rate) }\left(\frac{\text { days invested }}{360 \text { days }}\right)}{\text { amount invested }\left(\frac{\text { days invested }}{360 \text { days }}\right)+\text { commission }} \end{array} [/tex] Give your answer as a percent rounded to the nearest hundredth.

[Answered] 15. The major source of financing public corporations is through: A. Custom duties B. Excise duties C. Fines D. Rates E. Taxes