Answers
Answer:
TRUE
Explanation:
Answer:
true!
Explanation:
because it is
Related Questions
Instructions
Equipment was acquired at the beginning of the year at a cost of $637,500. The equipment was depreciated using the double-declining balance method based on an estimated useful life of 9 years and
an estimated residual value of $43,195
a. What was the depreciation for the first year? Round your intermediate calculations to 4 decimal places. Round the depreciation for the year to
the nearest whole dollar
please help me !!!!!!!! i’ve been trying so solve it & i can’t seem to understand it.
Answers
Based on the given information, the amount of the depreciation expense for the first year is $141,667.
Data and Calculations:
Cost of Equipment = $637,500
Estimated residual value = $43,195
Depreciable amount = $594,305
Estimated useful life = 9 years
Depreciation method = double-declining-balance method
Depreciation rate = 22.2222% (100/9 x 2)
First year's depreciation = $141,667 ($637,500 x 22.2222%)
Reduced balance = $495,833 ($637,500 - $141,667)
Second year's depreciation = $110,185 ($495,833 x 22.2222%)
Thus, each year's depreciation will be computed on the reduced balance. However, the last year's depreciation will be the difference between the reduced balance and the estimated residual value.
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The office manager of ABC company has the authority to the whole financial operations. He authorizes activities, controls the company’s expenses, records the company’s transactions, and rarely takes vacation?
The owners of the company are happy with his work since the company is making a profit. You are giving the opportunity to educate the owners about the risk of not implementing internal control. What would be your advice? (2
Q3. At the end of the month, XYZ company’s bank statement is different from the cash book balance. How would the company do the bank reconciliation? (
Answers
The risk of not implementing internal control is that it can lead to unethical practices in the workplace.
Internal control refers to the process for assuring the objectives of an organization in operational efficiency and effectiveness. Reliable financial reporting and compliance with laws are vital in internal control.
The risk of not implementing internal control is that it can lead to unethical practices. Also, since there isn't any review of the work done by the financial manager, and this can be risky for the company. This can lead to fraudulent activities.
Since the bank statement is different from the cash book balance, the bank can reconcile this by getting the bank records. This can be done through the checking of appropriate debit and credit transactions in the bank records.
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The purpose of the cash flow statement is to:
To give a detailed breakdown of key items shown in the primary financial statements
Show where the business's cash has come from and where it has been spent
Show, at a particular date, the sources of funds provided to a business by shareholders and others and how these funds have been used
Show the revenues, expenses and operating profit for the financial year
Answers
The purpose of the cash flow statement is to show where the business's cash has come from and where it has been spent.
What is a cash flow statement?A cash flow statement is a type of financial statement that gives total information about all of the cash inflows a business makes from continuing activities and outside investment sources. It also includes any cash outflows made within a specific time period to cover investments and business expenses.
The financial statements of a firm give investors and analysts a picture of all the business transactions that take place, where each transaction helps the company succeed. Because it tracks the cash generated by the business in three key ways—through operations, investments, and financing—the cash flow statement is seen to be the most understandable of all the financial statements.
The cash flows from operating activities (CFO) portion of the cash flow statement contains transactions from all operational business activities. The net income is the starting point for the cash flows from operations segment, which subsequently reconciles all non-cash items to cash items comprising operational activities. In other words, it is the business's net income, but expressed in cash.
The cash flows from investing (CFI), which are the outcome of investment gains and losses, are examined in the second section of the cash flow statement. Cash spent on real estate, machinery, and equipment is also included in this part. In this section, analysts search for variations in capital expenditures.
The cash flow statement's final section is titled cash flows from financing (CFF). An overview of how cash is used in business finance is given in this section. It gauges the movement of money between a business's owners and creditors, and its funding typically comes from debt or equity. When the cash flow from finance is positive, more money is coming into the business than is leaving it. If the number is negative, it could indicate that the business is repurchasing stock or paying down debt.
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Stock options ______. (Check all that apply.) Multiple select question. are stock dividends in which additional shares equal to more than 20-25% of the shares outstanding are issued provide the holder with the option to purchase stock at a specified price during a specified period of time are often given to employees as part of their compensation are a corporation's option to issue both preferred and common stock
Answers
Statements that describes stock options are:
provide the holder with the option to purchase stock at a specified price during a specified period time.
are often given to employees as part of their compensation.
stock option can be regarded as right to buy a specific number of shares from a company that sells stock at a pre-set price.This stock option offer holders options so they can purchase stock at a specified price. This option can also be given to employee as part of their compensation.Learn more at:
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Why an emergency saving fund is important ?
Answers
Answer:
.
Explanation:
your emergency fund covers you in the event of an unexpected financial blow and can help prevent you from going into debt. It also provides peace of mind if you lose your job, become too ill to work, or have to cover a major car or home repair.
Individual consumers are considered as:
communication
possible customers
competition
demographics
Answers
B. Possible customers
which of the following sentence ls use active voice
Answers
Answer:
Where is the picture
Explanation:
One way to gain information is by participating in trade fairs and trade missions.
a. True
b. False
Answers
Answer: true
Explanation: source from https://www.business.qld.gov.au/running-business/marketing-sales/marketing-promotion/show-exhibition/benefits
Trade shows are generally targeted at an industry and people involved or interested in that industry. Exhibiting at a trade show can be a great way to advertise to a target market and create brand awareness.
Exhibitions are open to a large and sometimes diverse range of audiences (usually the general public). This provides you with a platform to promote your product or service to a broader group that may have little or no knowledge of your products and services.
Depending on your type of business, product and market testing can be carried out at trade shows and exhibitions to gain industry or general opinion about your offering.
Being involved in a trade show or exhibition can provide you with opportunities to branch out to business-to-business trading and create a customer database from the visitors to your display booth.
These are sets of opinions, thoughts, and feelings an audience member might have on a topic that are not necessarily deeply held, and are therefore subject to change.
Answers
The definition corresponds to the concept of prejudice, because it involves a set of opinions, thoughts, and feelings.
A prejudice is a concept from the Latin praeiudicium that refers to an opinion, thought, or feeling (usually negative) that a person has formed about something or someone in advance and without prior knowledge.
Prejudice is the action and effect of establishing a definition or a meaning for something before the opportune time, that is, before knowing it in depth.
Note: This question is incomplete because the question is missing. Here is the complete question:
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Grady, Inc. manufactures model airplane kits and projects production at 650, 500, 450, and 600 kits for the next four quarters. Direct materials are 4 ounces of plastic per kit and the plastic costs $1 per ounce. Indirect materials are considered insignificant and are not included in the budgeting process. Beginning Raw Materials Inventory is 850 ounces, and the company desires to end each quarter with 10% of the materials needed for the next quarter’s production. Grady desires a balance of 200 ounces in Raw Materials Inventory at the end of the fourth quarter. Each kit requires 0.10 hours of direct labor at an average cost of $10 per hour. Manufacturing overhead is allocated using direct labor hours as the allocation base. Variable overhead is $0.20 per kit, and fixed overhead is $165 per quarter. Prepare Grady’s direct materials budget, direct labor budget, and manufacturing overhead budget for the year. Round the direct labor hours needed for production, budgeted overhead costs, and pre-determined overhead allocation rate to two decimal places.
Refer to the budgets prepared. Determine the cost per kit to manufacture the model airplane kits. Grady projects sales of 100, 150, 100, and 200 kits for the next four quarters. Prepare a cost of goods sold budget for the year. Grady has no kits in beginning inventory.
Answers
Grady, Inc.'s Direct Materials Budget, Direct Labor Budget, and Manufacturing Overhead Budget for the year are as follows:
Direct Materials Budget
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Projected production 650 500 450 600 2,200
Ounces of plastic per kit 4 4 4 4 4
Total materials required 2,600 2,000 1,800 2,400 8,800
Ending materials inventory 200 180 240 200
Raw materials available 2,800 2,180 2,040 2,600
Beginning materials inventory 850 200 180 240
Purchases of raw materials 1,950 1,980 1,860 2,360
Cost of materials purchased $1,950 $1,980 $1,860 $2,360 $8,150
Direct Labor Budget
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Projected production 650 500 450 600 2,200
Hours per kit 0.10 0.10 0.10 0.10 0.10
Total direct labor hours reqd. 65 50 45 60 220
Average cost per hour $10 $10 $10 $10 $10
Total direct labor cost $650 $500 $450 $600 $2,200
Manufacturing Overhead Budget:
Variable overhead $130 $100 $90 $120 $440
Fixed overhead $165 $165 $165 $165 $660
Total manufacturing o/h $295 $265 $255 $285 $1,100
Manufacturing overhead/unit $0.45 $0.53 $0.57 $0.475 $0.50
Cost per Kit:
Direct materials cost per unit = $4.00
Direct labor cost per unit $1.00
Manufacturing overhead $0.50
Cost per kit = $5.50
Cost of goods sold budget for the year:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Quarter Sales 100 150 100 200 550
Cost per unit $5.50
Cost of goods sold $550 $825 $550 $1,100 $3,025
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#hi makenzie thomas this is the owner of Brainly we or taking away some of your coins because of the inappropriate language and offensive cheating you have been using
:Thank You
Answers
Answer:
girl yk you aint nobodies owner
Explanation:
The not payable relating to the June 2, and 10 transactions is a five-year note, with interest at the rate of 12 percent annually...
Answers
A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 63 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)
Answers
The effective annual percentage cost of its non-free trade credit is 13.08%/
Here, we are to calculate the effective annual percentage cost.
Given Information
Discount % = 2%
Discount Days = 8
Net Days = 45
Actual days = 68
Nominal % cost = Disc. %/(100 – Disc. %) × (365/(Actual days – Disc. days)
Nominal % cost = 2 /(100 - 2) * 365/(68 -8)
Nominal % cost = 2 /98 * 365/60
Nominal % cost = 0.0204081 * 6.083333
Nominal % cost = 0.1241496
Nominal % cost = 12.41%
n = 365/(63 - 8) = 6.64
Effective annual rate = (1 + Nominal % rate/n)^ n – 1
Effective annual rate = (1 + 0.1241/6.64)^6.64 - 1
Effective annual rate = 1.13083302405 - 1
Effective annual rate = 0.13083302405
Effective annual rate = 13.08%
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des
11. Ashleigh has a pet boa constrictor named
Pauline. She keeps it in the most expensive,
escape-proof cage she can find. Regardless,
the boa escapes and kills the neighbor's famed
show cat which was valued at more than $5,000.
Will Ashleigh be liable?
at
ely
Will Ashleigh be liable
Answers
Answer:
yes
Explanation:
it was her boa constrictor so therefore she is held responsible
Integrating 160 different nationalities into one
corporation, such as The Emirates Group, has
challenges and opportunities. What challenges
do you see? What opportunities come from this
diverse workforce?
Answers
Answer:
6/7okay
hi
288+287299(
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The integration of different nationalities in a corporation, such as The Emirates Group, can have the advantages of increasing knowledge and innovation.
The disadvantages of this type of commercial integration can be related to cultural and adaptive differences among workers.
What are the challenges of a multicultural environment?Globalization has tightened social and economic relationships between nations, making work environments multicultural, which is positive for increasing creativity, but there are several challenges that must be managed such as:
Language barriersEthicIndividual valuesTherefore, it is essential that in a multicultural corporation, there is a focus on promoting cultural skills and ethics as guides for actions in micro and macro environments.
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When a change in the price level leads to a change in the interest rate and thus a change in the quantity of aggregate demand, it is called the:
Answers
Answer:
interest rate effect
Explanation:
discuss steeps involved in business planing process
Answers
Steps for business planning:
Step 1: Establish your mission. In essence, your mission statement explains why your business exists. ...
Step 2: Analyse your SWOT. ...
Step 3: Develop a plan. ...
Step 4: Create a budget. ...
Step 5: Put it in writing. ...
Step 6: Make it a living document.
Steps for planning
1] Recognizing Need for Action. ...
2] Setting Objectives. ...
3] Developing Premises. ...
4] Identifying Alternatives. ...
5] Examining Alternate Course of Action. ...
6] Selecting the Alternative. ...
7] Formulating Supporting Plan.
Assume that you have completed your procedures on the audit of Warren Corporation and have found the following audit issues.
a. Indicate the account balance financial statement assertion that is likely to be most impacted by each of the issues.
b. Indicate whether the impact of the issue would be understatement or overstatement of the account.
1. It was discovered that a number of the items on hand and counted in the inventory were on consignment.
2. In performing a price test of inventory items, you found a number of items priced below cost.
3. It appears that the selling price of certain of the company's products has declined significantly.
4. During the physical inventory it was noted that a number of inventory items were damaged.
5. Completeness Existencee Rights and Obligations Valuation and Allocation Inventory items were stored in three different warehouses and the auditors fear that some items might be in an undisclosed fourth warehouse.
6. Some inventory items owned by the company were in transit during the physical inventory.
Answers
a. The indication of the account balance financial statement assertions of the following issues are as follows:
Issues Financial Statement Assertions
1. Consignment Inventory Existence, Completeness, Rights and Obligations
2. Items priced below cost Existence, Accuracy and Valuation
3. Significant decline in selling prices = Accuracy and Valuation
4. Damaged inventory Existence, Accuracy and Valuation
5. Undisclosed fourth warehouse = Existence, Completeness, Accuracy and Valuation
6. Inventory in-transit Existence, Accuracy and Valuation, completion, Rights and Obligations
b. Issues Impacts
1. Consignment Inventory Overstatement
2. Items priced below cost Understatement
3. Significant decline in selling prices Overstatement
4. Damaged inventory Overstatement
5. Undisclosed fourth warehouse Overstatement
6. Inventory in-transit Understatement
Thus, the financial statement assertions that the auditor must verify are existence, completeness, rights and obligations, accuracy and valuation, and presentation and disclosure.
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1. Compute component percentages for Year 2. (Enter your answers as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).)
Answers
The percentage for the cost of sales is 65.21% in 2015. The percentage for the cost of sales is 65.41% in 2014.
It should be noted that the percentage for the cost of sales in 2015 was calculated as:
= Cost of sales / Net sales
= 36665/56223 = 65.21%
The percentage for the cost of sales in 2014 was calculated as:
= Cost of sales / Net sales
= 34941/53417 = 65.41%
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From the grocery store you need to purchase 1/2 lb cheese, 3 lbs sliced ham, 2 loaves of bread, 4 bags of potato chips, and 1 container of salsa. You have a coupon for $4.00 off if your purchase totals more than $15.00 or 10% off if the total is more than $20.00. The food sales tax is 3%. Which coupon offer will save you the most money?
Answers
The coupon offer allows greater savings is the $ 4.00 coupon.
To find out which coupon means greater savings, you must do the following procedure.
1. Calculate how much is the total value of the account
Cheese - $ 2.99 / 2 = $ 1,495
Sliced ham - $ 4.29 × 3 = $ 12.87
Bread - $ 2.49 × 2 = $ 4.98
Potato Chips - $ 2 for $ 3.00, so 4 for $ 6.00
Sauce - $ 3.39
$ 3.39 + $ 6.00 + $ 4.98 + $ 12.87 + $ 1,495 = $ 28.73
2. We must calculate the discount that represents 10% of the value and the 3% increase in food tax.
$ 28.73 / 100 = $ 0.287
0.287 × 10 = $ 2.87
$ 28.73 - $ 2.87 = $ 25.87
$ 28.73 / 100 = $ 0.287
0.287 × 3 = $ 0.861
$ 25.87 + $ 0.861 = $ 26.73
3. We must calculate the discount represented by the $ 4 coupon and the 3% food tax increase.
$ 28.73 - $ 4.00 = $ 24.73
24.73 / 100 = $ 0.24
0.24 × 3 = $ 0.74
$ 24.73 + $ 0.74 = $ 25.47
According to the above, the coupon that represents more discount is $ 4 coupon.
Note: This question is incomplete because some information is missing. Here is the missing information:
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Lansing Company’s current-year income statement and selected balance sheet data at December 31 of the current and prior years follow. LANSING COMPANY Income Statement For Current Year Ended December 31 Sales revenue $ 130,200 Expenses Cost of goods sold 53,000 Depreciation expense 17,500 Salaries expense 29,000 Rent expense 10,100 Insurance expense 4,900 Interest expense 4,700 Utilities expense 3,900 Net income $ 7,100 LANSING COMPANY Selected Balance Sheet Accounts At December 31 Current Year Prior Year Accounts receivable $ 6,700 $ 8,000 Inventory 3,080 2,090 Accounts payable 5,500 6,800 Salaries payable 1,100 810 Utilities payable 440 270 Prepaid insurance 370 500 Prepaid rent 440 290
Required:
Prepare the cash flows from operating activities section only of the company's 2017 statement of cash flows using the indirect method.
Answers
From the computation that was done, the value of the cash flow from operating activities will be $30430.
Net income = $7100
Add: Interest expense = $4700
Add: Depreciation = $17500
Account receivable = $8000 - $6700 = $1300
Inventory = $2090 - $3080 = - $990
Prepaid insurance = $500 - $370 = $130
Prepaid rent = $290 - $440 = -$150
Utilities payable = $270 - $440 = -$170
Accounts payable = $6800 - $5500 = $1300
Salaries payable = $810 - $1100 = $290
Cash flow from operating activities = $30430
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Karson is a manager in a bottle manufacturing company. He wants to check whether 100 bottles were produced and dispatched to the market. Which department should
he consult?
Answers
Answer:
Answer is Operations Department.
Explanation:
Accumulated earnings from a firm's profitable operations that are kept in the business and not paid out to stockholders are called ?
Answers
Answer:
I believe it's retained earnings
sample of event proposal
Answers
Tanong nyo po Kay Jollibee
what are the conflict management styles and dispute resolution mechanism
Answers
Answer:
Five styles for conflict management, as identified by Thomas and Kilmann, are: competing, compromising, collaborating, avoiding, and accommodating. Businesses can benefit from appropriate types and levels of conflict. That is the aim of conflict management, and not the aim of conflict resolutionIn the field of organizational behavior, organizations are described as
Answers
Answer:
hljikgukg8jguihgihgigg
Stone Age Surfboards is a small manufacturer of two types of popular high-tide surfboards, the Rockwell and the Limestone models. The manufacturing process consists of two departments: fabrication and finishing. The fabrication department has 15 skilled workers, each of whom works 5 hours per day. The finishing department has 5 workers, who also work a 5-hour shift. Each pair of Rockwell surfboards requires 3 labor hours in the fabrication department and 1.5 labor hours in finishing. The Limestone model requires 4.5 labor-hours in fabrication and 2 labor-hours in finishing. The company operates 6 days a week. It makes a per-unit profit of $60 on the Rockwell model and $75 on the Limestone model. Approximately 4.1 Rockwell models and 8.4 Limestone models are produced per day. What is the total number of hours used for the finishing operation
Answers
Based on the information given, the total number of hours that will be used for the finishing operation will be 22.95 hours.
The total number of hours that will be required for finishing 4.1 Rockwell models will be:
= 1.5 × 4.1 = 6.15 hours.
The total number of labor hours that'll be required for finishing 8.4 Limestone models will be:
= 2 × 8.4 = 16.8 hours.
Therefore, the total labor hours that will be required will be:
= 6.15 hours + 16.8 hours
= 22.95 hours
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To know what you’re buying is a consumer? Right or responsibility?!
Answers
Answer:
From what I know yes a consumer would be correct
Explanation:
What Do You Need To Know About Taxi To Heathrow?
Answers
II. British Beverages bottles two soft drinks under licence to Cadbury Schweppes at its Manchester plant. Bottling at this plant is a highly repetitive, automated process. Empty bottles are removed from their carton, placed on a conveyor, and cleaned, rinsed, dried, filled, capped and heated (to reduce condensation). The only stock held is either direct materials or else finished goods. There is no work in progress. The two soft drinks bottled by British Beverages are lemonade and diet lemonade. The syrup for both soft drinks is purchased from Cadbury Schweppes. Syrup for the regular brand contains a higher sugar content than the syrup for the diet brand. British Beverages uses a lot size of 1000 cases as the unit of analysis in its budgeting. (Each case contains 24 bottles.) Direct materials are expressed in terms of lots, where one lot of direct materials is the input necessary to yield one lot (1000 cases) of beverage. In 2015, the following purchase prices are forecast for direct materials:
Lemonade Diet lemonade
Syrup £1200 per lot £1100 per lot
Containers
(bottles, caps, etc.) £1000 per lot £1000 per lot
Packaging £800 per lot £800 per lo
The two soft drinks are bottled using the same equipment. The equipment is cleaned daily, but it is only rinsed when a switch is made during the day between diet lemonade and lemonade. Diet lemonade is always bottled first each day to reduce the risk of sugar contamination. The only diference in the bottling process for the two soft drinks is the syrup. Summary data used in developing budgets for 2015 are as follows: a Sales:
z Lemonade, 1080 lots at £9000
selling price per lot. z Diet lemonade, 540 lots at £8500
selling price per lot. b Opening (1 January 2015) stock of direct materials: z Syrup for lemonade, 80 lots at £1100
purchase price per lot. z Syrup for diet lemonade, 70 lots at £1000
purchase price per lot. z Containers, 200 lots at £950
purchase price per lot. z Packaging, 400 lots at £900
purchase price per lot. c Opening (1 January 2015) stock of finished goods: z Lemonade, 100 lots at £5300 per lot. z Diet lemonade, 50 lots at £5200 per lot. d Target closing (31 December 2015) stock of direct materials: z Syrup for lemonade, 30 lots. z Syrup for diet lemonade, 20 lots. z Containers, 100 lots. z Packaging, 200 lots. e Target closing (31 December 2015) stock of finished goods: z Lemonade, 20 lots. z Diet lemonade, 10 lots.
f Each lot requires 20 direct manufacturing labour-hours at the 2015 budgeted rate of £25 per hour. Indirect manufacturing labour costs are included in the manufacturing overhead forecast. g Variable manufacturing overhead is forecast to be £600 per hour of bottling time; bottling time is the time the filling equipment is in operation. It takes two hours to bottle one lot of lemonade and two hours to bottle one lot of diet lemonade. Fixed manufacturing overhead is forecast to be £1 200 000 for 2015. h Hours of budgeted bottling time is the sole allocation base for all fixed manufacturing overhead. i Administration costs are forecast to be 10% of the cost of goods manufactured for 2015. Marketing costs are forecast to be 12% of sales for 2015. Distribution costs are forecast to be 8% of sales for 2015. Required Assume British Beverages uses the first-in, first-out (FIFO) method for costing all stock. On the basis of the preceding data, prepare the following budgets for 2015: 1 Revenue budget (in £) 2 Production budget (in units) 3 Direct materials usage budget (in units and £) 4 Direct materials purchases budget (in units and £) 5 Direct manufacturing labour budget 6 Manufacturing overhead costs budget 7 Closing finished goods stock budget 8 Cost of goods sold budget 9 Marketing costs budget 10 Distribution costs budget 11 Administration costs budget 12 Budgeted profit and loss account.
