Answer:
Accounting equation
Explanation:
The accounting equation is the basis of the double-entry accounting system.
The accounting equation ensures that each entry made on the debit side of the balance sheet should have a corresponding entry on the credit side. This ensures that the balance sheet remains balanced
Courtney Meehan has trouble keeping her debits and credits equal. During a recent month, Courtney made the following accounting errors:
a. In preparing the trial balance, Courtney omitted a $5,000 Notes Payable. The debit to Cash was correct
b. Courtney posted a $11000 Utilities Expense as $100. The credit to Cash was correct.
c. In recording a $600 payment on account, Courtney debited Furniture instead of Accounts Payable-
d. In journalizing a receipt of cash for service revenue, Courtney debited Cash for $50 instead of the correct amount of $500. The credit was correct.
e. Courtney recorded a $210 purchase of office supplies on account by debiting Office Supplies for $120 and crediting Accounts Payable for $120.
Required:
a. For each of these errors, state whether total debits equal total credits on the trial balance.
b. Identify each account that has an incorrect balance and the amount and direction of the error.
Answer:
a. In preparing the trial balance, Courtney omitted a $5,000 Notes Payable. The debit to Cash was correct
Liabilities (credit balance) are understated by $5,000 ⇒ TOTAL DEBITS DO NOT EQUAL TOTAL CREDITSb. Courtney posted a $11000 Utilities Expense as $100. The credit to Cash was correct.
Expenses (debit balance) are understated by $10,900 ⇒ TOTAL DEBITS DO NOT EQUAL TOTAL CREDITSc. In recording a $600 payment on account, Courtney debited Furniture instead of Accounts Payable-
Assets (debit balance) are understated by $600 and liabilities (credit balance) are overstated by $600. ⇒ TOTAL DEBITS DO NOT EQUAL TOTAL CREDITSd. In journalizing a receipt of cash for service revenue, Courtney debited Cash for $50 instead of the correct amount of $500. The credit was correct.
Assets (debit balance) are understated by $450 ⇒ TOTAL DEBITS DO NOT EQUAL TOTAL CREDITSe. Courtney recorded a $210 purchase of office supplies on account by debiting Office Supplies for $120 and crediting Accounts Payable for $120.
both assets (debit balance) and liabilities (credit balance) are understated by $90. ⇒ TOTAL DEBITS EQUAL TOTAL CREDITSA stock has a beta of 1.28, the expected return on the market is 12%, and the risk-free rate is 4.5%. Using the CAPM, what is the expected return on this stock
Answer:
14.10%
Explanation:
The calculation of expected return on this stock is shown below:-
Expected rate of return = Risk-free rate of return + Beta × (Market rate of return - Risk-free rate of return)
= 4.5% + 1.28 × (12% - 4.5%)
= 4.5% + 1.28 × 7.5%
= 4.5% + 9.6%
= 14.10%
The Market rate of return - Risk-free rate of return) is also called as the market risk premium
hence, the expected rate of return is 14.10%
An organization is required to know, track, and record the location of all hazardous materials that it owns, controls, or generates. Group of answer choices True False
Answer: True
Explanation:
An organization is required to know, track, and record the location of all hazardous materials that it owns, controls, or generates.
It is important for the organizations to track, know and record the location of every hazardous materials it uses in order to keep the individuals in the society safe and also keep the company active.
The smaller the required reserve ratio the larger the simple deposit multiplier. Do you agree or disagree with this statement. Explain your answer.
Answer:
Agree
Explanation:
A deposit multiplier is maximum amount of money that can be created for each unit of reserve. It is key requirement for maintaining economy's basic money supply. The simple deposit multiplier is 1 / rr * change in R. Deposit multiplier is the inverse of reserve ratio. The higher the reserve ratio the lesser will be the deposit multiplier. Reserve ratio is the minimum amount of money that must be kept in the deposit.
You want to buy a new sports coupe for $74,500, and the finance office at the dealership has quoted you a loan with an APR of 6.9 percent for 36 months to buy the car.
Required:
a. What will your monthly payments be?
b. What is the effective annual rate on this loan?
Answer:
a) Monthly payments = $22,969.38
b) Effective rate of return= 7.12%
Explanation:
Loan Amortization: A loan repayment method structured such that a series of equal periodic installments will be paid for certain number of periods to offset both the loan principal amount and the accrued interest.
The monthly installment is computed as follows:
Monthly installment= Loan amount/annuity factor
Loan amount; = 74,500
Annuity factor = (1 - (1+r)^(-n))/r
r -monthly rate of interest, n- number of months
r- 6.9%/12 = 0.575 % = 0.00575, n = 36 =
Annuity factor = ( 1- (1+00575)^(-36)/0.00575= 32.434
Monthly installment = Loan amount /annuity factor
= 74,500/32.434= 22,969.38
Required monthly payments = $22,969.38
Effective annual interest rate
Effective rate of return = ((1+r)^n- 1) × 100
where r - monthly interest rate- 6.9%/12 = 0.575%
n- number of months= 12 months
Effective rate of return - (1+00575)^(12) - 1× 100= 7.12%
Effective rate of return= 7.12%
Salary expense was 15.5% of sales this year. If sales this year are $1,300,000 and are forecasted to be $1,500,000 next year, what is forecasted salary expense next year if all expenses maintain a constant percent of sales?
Answer:
Salary expense next year=$232,500
Explanation:
The ratio of expense to ales is an important which helps in the management and control overhead.
We can be predict the Salary expense using the information given about the relationship between salary expense and sales .
If salary expense is 15.5% of sales, then Salary expense this year =
15.5% × 1,300,000=$201,500
Salary expense next year = 15.5% × foretasted sales next year
= 15.5% × 1,500,000 = $232,500
We use 15.5% because the relationship between the expenses and the sales in proportion is expected to remain the same
Salary expense next year=$232,500
Jacobsen Corporation prepares its financial statements applying U.S. GAAP. During its 2016 fiscal year, the company reported before-tax income of $621,000. This amount does not include the following two items, both of which are considered to be material in amount: Unusual gain $201,000 Loss on discontinued operations (301,000) The company's income tax rate is 30%. In its 2016 income statement, Jacobsen would report income from continuing operations of:
Answer:
Jacobsen Corporation
Income from continuing operations of $621,000 will be reported.
Explanation:
The income from continuing operations is the same thing as the operating income. It is the pre-tax income that is reported on Jacobsen Corporation's income statement for the year ended December 31, 2016. The tax rate of 30% is applied on this figure to obtain the income tax expense for the year. But, for Jacobsen that has other unusual items, these are taken into consideration before the income tax is imputed to obtain the after-tax income.
Solt Corporation uses a job-order costing system and has provided the following partially completed T-account summary for the past year. Finished Goods Bal. 1/1 38,000 Credits ? Debits ? Bal. 12/31 50,000 The Cost of Goods Manufactured for the year was $415,000.The unadjusted Cost of Goods Sold for the year was:
Answer:
The unadjusted Cost of Goods Sold for the year was: $403,000
Explanation:
Calculation of Cost of Goods Sold
Opening Finished Goods Inventory $38,000
Add Cost of Goods Manufactured for the year $415,000
Less Ending Finished Goods Inventory ($50,000)
Cost of Goods Sold $403,000
The trial balance for Skysong, Inc. appears as follows: Skysong, Inc. Trial Balance December 31, 2022 Cash $280 Accounts Receivable 480 Prepaid Insurance 75 Supplies 166 Equipment 3680 Accumulated Depreciation, Equipment $550 Accounts Payable 353 Common Stock 1100 Retained Earnings 1290 Service Revenue 2768 Salaries and Wages Expense 920 Rent Expense 460 $6061 $6061 If, on December 31, 2022, the insurance still unexpired amounted to $18, the adjusting entry would contain a:
Answer:
Debit Insurance expenses for $57
Credit Prepaid insurance for $57
Explanation:
From the Trial Balance, Prepaid Insurance is $75. Since on December 31, 2022, the insurance still unexpired amounted to $18, the insurance expenses for the year can therefore be calculated as follows:
Insurance expenses = $75 - $18 = $57
The adjusting entries will therefore be as follows:
Particulars Dr ($) Cr ($)
Insurance expenses 57
Prepaid insurance 57
(To record insurance expenses for the year.)
Note that the amount of $18 unexpired insurance will now be the Prepaid insurance that will appear as an asset under the Current Asset in the balance sheet, while the $57 insurance expenses will be charged as an expense in the income statement.
Suppose an American buys stock issued by an Argentinian corporation. The Argentinian firm uses the proceeds from the sale to build a new office complex. This is an example of foreign ___________ in Argentina.
1. Which of the following policies are consistent with the goal of increasing productivity and growth in developing countries?
a. Protecting property rights and enforce contracts
b. Providing tax breaks and patents for firms that pursue research and development in health and sciences.
c. Increasing taxes on income from savings
d. Imposing restrictions on foreign ownership of domestic capital.
2. In less developed countries, what does the brain drain refer to?
a. The emigration of highly skilled workers to rich countries
b. Lower productivity due to a malnourished workforce
c. Rapid population growth that increases the burden on the educational system
d. Rapid population growth that lowers the stock of capital per worker
Answer:
Suppose an American buys stock issued by an Argentinian corporation. The Argentinian firm uses the proceeds from the sale to build a new office complex. This is an example of foreign PORTFOLIO INVESTMENT in Argentina.
1. Which of the following policies are consistent with the goal of increasing productivity and growth in developing countries?
a. Protecting property rights and enforce contracts b. Providing tax breaks and patents for firms that pursue research and development in health and sciences.Both A and B are essential for increasing economic growth. E.g. if Coke was not able to keep its formula secret in certain country, it will not engage in business there. Investment in R&D is essential for future economic growth.
2. In less developed countries, what does the brain drain refer to?
a. The emigration of highly skilled workers to rich countriesBrain drain refers to the immigration of highly skilled workers from poor countries into rich countries. E.g. a doctor moves from mexico to the US because he/she can earn a much higher salary. But at the same time, all the money and time spent educating the doctor is lost by Mexico and its economy.
3. When Blackstone investment company borrowed funds to buy out the stockholders of Busch Entertainment, it was participating in a(n)
Answer: c. Leveraged Buyout
Explanation:
A Leveraged buyout as the term suggests, is when a buyout is sponsored mainly by the use of debt. In Business Leveraged Buyouts usually occur when either the management, employees or private investors buys out or attempts to buy out the Shareholders of a company by using debt funding so that they can then own the company. The debt is acquired by using both assets of the company being bought and that of the company buying (unless they do not have any) as collateral.
When Blackstone investment company borrowed funds to buy out the stockholders of Busch Entertainment, it was participating in a Leveraged Buyout.
The petty cash fund has a current balance of $ 350, which is the established fund balance. Based on activity in the fund, it is determined that the balance needs to be changed to $ 550. Which journal entry is needed to make this change?
A. No journal entry is needed because this change only involves cash.
B. Debit the Petty Cash account and credit the Cash account for $200.
C. Debit the Cash account and credit the Petty Cash account for $200.
D. Debit the Petty Cash account and credit the Cash account for $550.
Answer:
i think the answer is B. Debit the Petty Cash account and credit the Cash account for $200.
Explanation:
Suppose you inherited $275,000 and invested it at 8.25% per year. How much could you withdraw at the end of each of the next 20 years
Answer:
$28,533.5
Explanation:
Principal value (PV) = $275,000
Time = 20 years
Rate = 8.25%
Present Value = P ((1-(1+R)^-n) / r)
275,000 = P ((1- (1 + 0.0825)^-20) /.0825)
275,000 x .0825 = P (1-(1/1.0825)^20)
22687.5 = P ((1.0825^20 - 1) / (1.0825 ^20))
22687.50 = P (4.8816 - 1 / 4.8816)
22687.5 = P (3.886 / 4.8816)
22687.5 = p(0.7951)
P = 22687.5 / 0.7951
P = $28533.5
ROI: Fill in the Unknowns Provide the missing data in the following situations: North American Division Asian Division European Division Sales Answer $5,000,000 Answer Net operating income $80,000 $200,000 $168,000 Operating assets Answer Answer $700,000 Return on investment 16% 10% Answer Return on sales 0.04 Answer 0.16 Investment turnover Answer Answer 1.5
Answer and Explanation:
The computation of the missing data is shown below:
Particulars North American Asian European
division Division Division
Sales $2,000,000 $5,000,000 $1,050,000
Net Operating
Income $80,000 $200,000 $168,000
Operating
assets $500,000 $2,000,000 $700,000
Return on
Investment 16% 10% 24%
Return on sales 0.04 0.04 0.16
Investment
turnover 4 2.5 1.5
Working notes :
1. For North American division
Sales is
= Net operating income ÷ return on sales
= $80,000 ÷ 0.04
= $2,000,000
Operating assets is
= Net Operating income ÷ return on investment
= $80,000 ÷ 16%
= $500,000
Investment turnover is
= Sales ÷ operating assets
= $2,000,000 ÷ $500,000
= 4
For Asian Division
Operating assets is
= Net operating income ÷ return on investment
= $200,000 ÷ 10%
= $2,000,000
Return on sales is
= Net Operating income ÷ sales
= $200,000 ÷ $5,000,000
= 0.04
Investment turnover is
= Sales ÷ operating assets
= $5,000,000 ÷ $2,000,000
= 2.5
For European division:
Sales is
= Operating assets × investment turnover
= $700,000 × 1.5
= $1,050,000
Return on investment is
= Net operating income ÷ operating assets × 100
= $168,000 ÷ $700,000
= 24%
The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2017: Beginning balances were: Cash, $93,000; Taxes Receivable, $189,500; Accounts Payable, $52,250; and Fund Balance, $230,250. The budget was passed. Estimated revenues amounted to $1,230,000 and appropriations totaled $1,227,400. All expenditures are
Answer:
Estimated Revenue Control (Dr.) $1,230,000
Appropriation (Cr.) $1,227,400
Budgetary Fund (Cr.) $2,600
Tax receivable (Dr.) $189,500
Revenue (Cr.) $189,500
Cash (Dr.) $93,000
Tax receivable (Dr.) $96,500
Revenue (Cr.) $189,500
Expenditure Control (Dr.) $52,250
Accounts Payable (Cr.) $52,250
Accounts Payable (Dr.) $52,250
Cash (Cr.) $52,250
Explanation:
Buffalo Falls earned and received tax revenue of $189,500. This will be reflected on debit side when journal entry is made and revenue is credited as per transaction. The company has now recorded a transaction of expenditure control of $52,250. These transaction are recorded by debiting the expenditure control account and crediting the accounts payable.
The following data concerns a proposed equipment purchase: Cost$144,000 Salvage value$4,000 Estimated useful life 4years Annual net cash flows$46,100 Depreciation methodStraight-line Ignoring income taxes, the annual net income amount used to calculate the accounting rate of return is:
Answer: $74,000
Explanation:
The Average Investment refers to the average cash invested into a particular project and is useful in calculating the rate of return. The simple formula is to add the beginning value of the asset to its ending value and divide this by 2.
The ending value in this case would be the salvage value;
Average Investment = [tex]\frac{Beginning Cost of Machine + Salvage Value}{2}[/tex]
= [tex]\frac{144,000 + 4,000}{2}[/tex]
= $74,000
Net capital outflow and net exports An open economy interacts with the rest of the world through its involvement in world markets for goods and services and world financial markets. Although it can often result in an imbalance in these markets, the following identity must remain true: In other words, If a transaction directly affects the left side of this equation, then It must also affect the right side. The following problem will help you understand why this Identity must hold. Suppose you are a fashion designer Living In the United States, and a trendy boutique in Bangkok just purchased your entire inventory for THB 80,000.
Determine the effects of this transaction on exports, imports, and net exports in the U.S. economy, and enter your results in the following table. If the direction of change is 'No change,'' enter ''0'' in the Magnitude of Change column. Hint: The magnitude of change should always be positive, regardless of the direction of change. Because of the identity equation that relates)_________ to net exports, the in U.S. net exports Is matched by _________in U.S. net capital outflow. Which of the following Is an example of how the United States might be affected in this scenario?
a. You store the Thai baht in your safety deposit box at home.
b. You purchase THB 48,000 worth of stock in a Thai corporation and THB 32,000 worth of Thai bonds.
c. You exchange the THB 80,000 for dollars at your local bank, which then uses the foreign currency to purchase stock in a Thai corporation.
Answer:
1. a. Exports will increase by THB 80,000
You live in the US and you just sold something to someone outide the US. This is an export so you increased US exports by THB 80,000.
b. Imports will be $0.
You did not import anything from outside the country.
c. Net Exports will be THB 80,000
Net Exports are Exports less imports for a given period.
= 80,000 - 0
= THB 80,000
2. Because of the identity equation that relates to net exports, increase in U.S. net exports Is matched by an increase in U.S. net capital outflow.
As a result of the US exporting goods, money from other countries come into it. This flow of capital into the US contributes to the U.S. net capital outflow.
3. a. You store the Thai baht in your safety deposit box at home.
b. You purchase THB 48,000 worth of stock in a Thai corporation and THB 32,000 worth of Thai bonds.
c. You exchange the THB 80,000 for dollars at your local bank, which then uses the foreign currency to purchase stock in a Thai corporation.
In the first scenario, the US would be affected because even though money came in, it is not being used but it rather sitting ideal at home.
In the other 2 scenarios, the money was not used to purchase thing in the US but rather went back outside the country. This means that capital flowed out of the US so negatively affects her Net Capital Outflow.
Net capital outflow refers to the amount that is credited from the country and debited to the other country. This means the country faces an outflow of funds. Exports are the activity in which the goods and services are delivered to the other parts of the country.
1. a. Exports will increase by THB 80,000
Living in the US and you just sold something to someone outside the US. This is export so you increased US exports by THB 80,000.
b. Imports will be $0.
No imports from the other country.
c. Net Exports will be THB 80,000
Net Exports are Exports fewer imports for a given period.
= 80,000 - 0
= THB 80,000
2. Because of the identity equation that relates to net exports, an increase in U.S. net exports Is matched by an increase in U.S. net capital outflow.
As a result of the US exporting goods, money from other countries comes into it. This flow of capital into the US contributes to the U.S. net capital outflow.
3. a. You store the Thai baht in your safety deposit box at home.
b. You purchase THB 48,000 worth of stock in a Thai corporation and THB 32,000 worth of Thai bonds.
c. You exchange the THB 80,000 for dollars at your local bank, which then uses the foreign currency to purchase stock in a Thai corporation.
In the first scenario, the US would be affected because even though the money came in, it is not being used but it rather sitting ideal at home.
In 2 scenarios, the money was not used to purchase things in the US but rather went back outside the country. This means that capital flowed out of the US so negatively affects her Net Capital Outflow.
To know more about the net capital flow, refer to the link below:
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a) While excavating, the Contractor hits a rock layer. Since the plans and soil report did not mention such rock, the contractor files a claim under: i. Force majeure. ii. Differing site conditions. iii. Design errors/omissions. iv. Unusual weather conditions. v. Changes in owner’s requirements.
Answer:
Differing site conditions
Explanation:
A differing site condition is a condition that has been changed. Since the plan did not mention this rock, the contractor can file a claim under this.
It is a hidden physical condition that is discovered at a site which is actually different from what was expected. It can also be regarded as unforeseen site condition.
You purchased a bond 69 days ago for $891.26. You received an interest payment of $24.00 56 days ago. Today the bond’s price is $884.89. What is the holding period return (HPR) on the bond as of today?
Answer:
1.97%
Explanation:
The formula to calculate the holding period return is:
HPR=(Income generated+(ending value-initial value)/Initial value)*100
Income generated= $24
Ending value= $884.89
Initial value= $891.26
HPR=(24+(884.89-891.26)/891.26)*100
HPR=(24+(-6.37)/891.26)*100
HPR=(17.63/891.26)*100
HPR=0.0197*100
HPR= 1.97%
According to this, the holding period return (HPR) on the bond as of today is 1.97%.
how to solve this problem:If a borrower can afford to make monthly principal and interest payments of $1,000 and the lender will make a 30-year loan at 5-1/2%, or a 20-year loan at 4-1/2%, what is the largest loan (rounded to the nearest $100) this buyer can afford?
Answer:
30-year loan at 5-1/2% ⇒ MAXIMUM LOAN $176,100
using a loan amortization table, you will pay $5.6786 for every $1,000 that you borrow, so you can borrow up to $1,000 / $5.6786 = 176.1 thousands
principal = $176,100
first payment:
interests = $176,100 x 0.055 x 1/12 = $807.13
repaid principal = $192.87
20-year loan at 4-1/2% ⇒ MAXIMUM LOAN $158,000
using a loan amortization table, you will pay $6.3291 for every $1,000 that you borrow, so you can borrow up to $1,000 / $6.3291 = 158 thousands
principal = $158,000
first payment:
interests = $158,000 x 0.045 x 1/12 = $592.50
repaid principal = $407.50
1. The maximum loan a borrower can take, if he can afford to make a monthly payment of $1,000, including principal and interest, for a 30-year loan at 5.5% interest, is $176,100.
2. The maximum loan a borrower can take, if he can afford to make a monthly payment of $1,000, including principal and interest, for a 20-year loan at 4.5% interest, is $158,100.
Data and Calculations:
a) N (# of periods) 360 months (30 x 12)
I/Y (Interest per year) = 5.5%
PMT (Periodic Payment) = $1,000
FV (Future Value) = $0
Results:
PV = $176,121.76
Sum of all periodic payments = $360,000 ($1,000 x 360)
Total Interest = $183,878.24
b) N (# of periods) = 240 months (20 x 12)
I/Y (Interest per year) = 4.5%
PMT (Periodic Payment) = $1,000
FV (Future Value) = $0
Results:
PV = $158,065.44
Sum of all periodic payments = $240,000 ($1,000 x 240)
Total Interest = $81,934.56
Thus, to solve this problem, input $1,000 as the periodic payment on a financial calculator and then calculate the present value of $1,000 at the interest rate for the given period.
Learn more about the present value of a periodic payment here: https://brainly.com/question/24770361
Machine Replacement Decision A company is considering replacing an old piece of machinery, which cost $600,700 and has $350,700 of accumulated depreciation to date, with a new machine that has a purchase price of $484,500. The old machine could be sold for $62,600. The annual variable production costs associated with the old machine are estimated to be $155,100 per year for eight years. The annual variable production costs for the new machine are estimated to be $102,300 per year for eight years. a.1 Prepare a differential analysis dated May 29 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. If an amount is zero, enter "0". If required, use a minus sign to indicate a loss. Differential Analysis Continue with Old Machine (Alt. 1) or Replace Old Machine (Alt. 2) May 29 Continue with Old Machine (Alternative 1) Replace Old Machine (Alternative 2) Differential Effects (Alternative 2) Revenues: Proceeds from sale of old machine $ $ $ Costs: Purchase price Variable productions costs (8 years) Profit (Loss) $ $ $ a.2 Determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. b. What is the sunk cost in this situation
Answer:
1.Incremental loss $300
2.Alternative II Replacing the Old Machine is beneficial because we have Incremental Profit of $300
2b.$250,000
Explanation:
1. Preparation of the differential analysis dated May 29
Differential Analysis
Continue with old machine (Alternative I ) or Replace old machine (Alternative II )
Continue with Replace the Differential effect
Old Machine Old Machine
Alternative 1 Alternative 2 Alternative 2
Revenue:
Revenue from Sale of Old Machine
$0 $62,600 $62,600
Cost:
Purchase Cost
$0 $484,500 $484,500
Variable Production (8 Years)
$1,240,000 $818,400 -$422,400
Profit / (Loss) ($1,240,000) ($1,240,300) -$300
Incremental loss = $300
2. Calculation to Determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine.
Alternative II Replacing the Old Machine is not beneficial because we have Incremental loss of $300
2b. Calculation for the sunk cost in this situation
The Sunk Cost will be the Book Value of Old Machine = $600,700-$350,700
= $250,000
Variable production workings
($155,100×8=1,240,800)
($102,300×8= 818,400)
Which of the following statements are true?
A. Different companies will use different charts of accounts based on individual company need.
B. The chart of accounts contains the balance of all the accounts in the ledger.
C. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.
D. The general ledger and the chart of accounts can be ordered in any sequence because they are not formal financial systems.
Answer:
TRUE: A. Different companies will use different charts of accounts based on individual company need.
C. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.
Explanation:
A. Different companies will use different charts of accounts based on individual company need.
A chart of accounts is the combination of all the accounts of an organization in an organized and structured model whose objective is to establish a codification so that there is a standardization of the company's financial information to assist the work of the accounting sector.
Therefore, each company will have a model chart of accounts referring to its activities and processes.
C. The general ledger contains all of the accounts that a company uses, along with detail of the balances in those accounts.
The general ledger can be defined as the set of all accounts held in the organization in detail.
Through the information in the accounts, the organization is able to correctly separate each one by type and carry out the organizational financial statement.
what is the most important function of a leader within an organization
Answer:
Leadership is the action of leading people in an organization towards achieving goals. Leaders do this by influencing employee behaviors in several ways. A leader sets a clear vision for the organization, motivates employees, guides employees through the work process and builds morale.
Explanation:
Answer:
building consouis
Explanation:
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if the broker dies or loses her license, the state's real estate licensing agency may choose to appoint a ________ to close any transactions that are pending.
Answer:
temporary broker
Explanation:
A temporary broker is someone who is charged with responsibility of closing, or winding up the existing or pending business of a permanent or original licensed broker, in the event that, the original licensed broker dies or loses her license.
To become a temporary broker, the state's real estate licensing agency will issue a temporary license as a broker to a licensed or unlicensed person for a period of not more than ninety days and will not be extended, except on a special cases such as personal representative.
Hence, if the broker dies or loses her license, the state's real estate licensing agency may choose to appoint a TEMPORARY BROKER to close any transactions that are pending.
The Mixing Department of Complete Foods had 62,000 units to account for in October. Of the 62,000 units, 38,000 units were completed and transferred to the nest department, and 24,000 units were 20% complete. All of the materials are added at the beginning of the process. Conversion costs arc added evenly throughout the mixing process and the company uses the weighted-average method.
Compute the total equivalent units of production for direct materials and conversion costs for October.
Answer:
The total equivalent units of production are as follows:
For direct materials = 62,000 units
For conversion costs = 42,000 units
Explanation:
These can be computed by preparing statements of equivalent units as follows:
Statement of Equivalent Units (EU) (Weighted average)
For October
For Materials
Particulars Units (a) Complete (%) (b) EU (c = a * b)
Transferred 38,000 100% 38,000
Ending WIP 24,000 100% 24,000
Total 62,000 62,000
Statement of Equivalent Units (EU) (Weighted average)
For October
For Conversion Costs
Particulars Units (a) Complete (%) (b) EU (c = a * b)
Transferred 38,000 100% 38,000
Ending WIP 24,000 20% 4,800
Total 62,000 42,000
Conclusion
The total equivalent units of production are as follows:
For direct materials = 62,000 units
For conversion costs = 42,000 units
Sarah used the Hide command on her Excel worksheet. What would be the most likely reason to use this command?
O Sarah hid the cells to delete them from the worksheet.
O Sarah hid the cells to erase the formula they were part of
O Sarah hid the cells because the information they contained wasn't relevant to her task.
O Sarah hid the cells to highlight their importance.
Answer:
Sarah hid the cells because the information they contained wasn't relevant to her task.
Explanation:
Hiding the cells does not delete them from the worksheet, and it does not erase them from the formula that they are part of. Also, hiding cells does not highlight their importance, because they are hidden.
Answer: C
Explanation: cause i am right
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours 72,700 Estimated variable manufacturing overhead $ 3.30 per machine-hour Estimated total fixed manufacturing overhead $ 838,730 The predetermined overhead rate for the recently completed year was closest to:
Answer:
The predetermined overhead rate for the recently completed year was closest to: $11.54 per machine-hour
Explanation:
Predetermined Overheads = Budgeted Fixed Overheads / Budgeted Activity
= $ 838,730 / 72,700
= $11.536864 or $11.54 per machine-hour.
F Mining has $6 million in sales, its ROE is 20%, and its total assets turnover is 3.2x. The company has 40% equity financed (i.e., equity multiplier is 2.5). What is its net income? (DuPont analysis)
Answer:
$0.15 million
Explanation:
The formula for ROE can be used as a stepping stone to determining the value of net income:
ROE=Profit margin*Total asset turnover*Equity multiplier
ROE is 20%
total asset turnover is 3.2
equity multiplier is 2.5
20%=profit margin*3.2*2.5
20%=profit margin*8
profit margin=20%/8=2.5%
The formula for profit margin can now be used to determine net income.
profit margin=net income/sales
2.5%=net income/$6 million
net income=$6 million*2.5%
net income=$0.15 million
A growing population encourages economic growth as it creates a larger workforce. Suppose a surge in immigration increases a country's total population and its overall economic output increases. As a result, the country's real GDP increases from $304,000 to $316,500. What is the percent change in real GDP
Answer:
4.11%
Explanation:
the percentage change in real GDP = [(new real GDP - old real GDP) / old real GDP] x 100 = [($316,500 - $304,000) / $304,000] x 100 = 4.11%
Generally a surge in immigration will result in both higher nominal and real GDP, but what should be more important is how real GDP per capita changes. If real GDP per capita increases, then the inflow was positive and made the economy grow for better. If real GDP per capita decreases, even if total real GDP increases, then the economy is not doing better.
You have a portfolio that is invested 16 percent in Stock A, 36 percent in Stock B, and 48 percent in Stock C. The betas of the stocks are .61, 1.16, and 1.45, respectively. What is the beta of the portfolio
Answer:
Beta= 1.2112
Explanation:
Giving the following information:
Stock A:
Proportion= 0.16
Beta= 0.61
Stock B:
Proportion= 0.36
Beta= 1.16
Stock C:
Proportion= 0.48
Beta= 1.45
To calculate the beta of the portfolio, we need to use the following formula:
Beta= (proportion of investment A*beta A) + (proportion of investment B*beta B) + (proportion of investment C*beta C)
Beta= (0.16*0.61) + (0.36*1.16) + (0.48*1.45)
Beta= 1.2112