Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 7.3, Problem 1CC
What is the difference between a work team and a work group?
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Chapter 7 Solutions
Introduction to Business
Ch. 7.1 - How does specialization lead to greater efficiency...Ch. 7.1 - What are the five types of departmentalization.Ch. 7.2 - Why does the matrix structure have a dual chain of...Ch. 7.2 - Why does a matrix structure increase power...Ch. 7.2 - What are advantages of a committee structure?...Ch. 7.3 - What is the difference between a work team and a...Ch. 7.3 - Identify and describe three types of work teams.Ch. 7.3 - What are some ways to build a high-performance...Ch. 7.4 - How does the chain of command clarify reporting...Ch. 7.4 - What is the role of a staff position in a...
Ch. 7.4 - What factors determine the optimal span of...Ch. 7.5 - What are the characteristic of a centralized...Ch. 7.5 - What are the benefits of a decentralized...Ch. 7.5 - What factors should be considered when choosing...Ch. 7.6 - Compare and contrast mechanistic and organic...Ch. 7.6 - What factors determine whether an organization...Ch. 7.7 - What is the informal organization?Ch. 7.7 - How can informal channels of communication be used...Ch. 7.8 - How does technology enable firms to organize as...Ch. 7.8 - What effect could the gig economy have on a...Ch. 7.8 - What are some organizational issues that must be...Ch. 7 - Training IT Replacements Recently the University...Ch. 7 - Given the lack of formal structure, how important...Ch. 7 - Is W.L. Gore a mechanistic or an organic...Ch. 7 - How do you think Gore's flat organizational...
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- ht = ences X On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,920 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash withdrawals by owner Consulting revenue Salaries expense Cash $ 8,450 Accounts receivable 16,950 Office supplies 4,080 Rent expense Land 46,020 Office equipment 18,860 Telephone expense Accounts payable 9,280 Owner investments 84,920 Miscellaneous expenses $ 2,930 16,950 4,420 7,900 860 680 Exercise 1-18 (Algo) Preparing an income statement LO P2 Using the above information prepare a December income statement for the business. ERNST CONSULTING Income Statement Revenues Rent expense Salaries expense Telephone expense Total revenues $ 4,420 7,900 860 $ SA Assets Cash 8,450 Accounts receivable 16,950 Office supplies 4,080 Land 46,020 Office equipment 18,860 navable 9,280 13,180 5 11 of 14 Next >arrow_forwardEquipment was acquired at the beginning of the year at a cost of $77,220. The equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,560. P1 What was the depreciation expense for the first year? _______ P2 Assuming the equipment was sold at the end of the second year for $58,320, determine the gain or loss on sale of the equipment. $_______________ P3 Journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles. 1. ____ Debit / Credit 2.____ Debit / Credit 3.____ Debit / Credit 4.____ Debit / Creditarrow_forwardUse the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 1, Jasmin Ernst organized Ernst Consulting. On December 3, the owner contributed $84,920 in assets to launch the business. On December 31, the company's records show the following items and amounts. Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $ 8,450 Cash withdrawals by owner 16,950 4,080 Rent expense Consulting revenue Salaries expense 18,860 Telephone expense Miscellaneous expenses 46,020 9,280 84,920 $ 2,930 16,950 4,420 7,900 860 680 Check my work Exercise 1-21 (Algo) Preparing a statement of cash flows LO P2 Also assume the following: a. The owner's initial investment consists of $38,900 cash and $46,020 in land. b. The company's $18,860 equipment purchase is paid in cash. c. Cash paid to employees is $2,700. The accounts payable balance of $9,280 consists of the $4,080 office supplies…arrow_forward
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