Answer: E. All of the above are characteristics of managerial accounting.
Explanation:
Managerial accounting is geared towards analysing accounting data to help management of an organization make decisions. As such it is internal and is seen by company employees.
To help the management, specific management reports are produced from which decisions affecting the company can be made. It is relatively flexible to enable it to suit the demands of the company and as it is for internal use, is not independently audited.
The account balances and income statement of Winniford Towing Service at June 30, 2018, follow: LOADING...(Click the icon to view the account balances.)LOADING...(Click the icon to view the income statement for the month.) Requirements 1. Prepare the statement of retained earnings for Winniford Towing Service for the month ending June 30, 2018. 2. What does the statement of retained earnings report? Requirement 1. Prepare the statement of retained earnings for Winniford Towing Service for the month ending June 30, 2018.
Answer:
A. $8,200
B. $7,800
C.The retained earnings will report the changes in retained earnings for a business entity during a time period
Explanation:
A. Preparation of the statement of retained earnings
Statement of Retained earnings for the month ending June 30, 2018.
Retained Earning June 1 2018 $3,400
Add Net income for the month $7,800
Total $11,200
Less:Dividend $3,000
Retained earnings June 30 $8,200
($11,200-$3,000)
Therefore the Statement of Retained earnings for June 30 will shows the amount of $8,200
2.Preparation of Income statement
Income statementfor the month ending June 30, 2018.
Revenue:
Service Revenue $10,800
Less :Expenses
Salary expenses ($2,200)
Rent expenses ($800)
Net income $7,800
($10,800-$3,000)
Therefore Winniford Towing Service Income statement Net income show the amount of $7,800.
C. Based on the above calculation the statement of retained earnings will report the changes in retained earnings for a business entity during a time period
when banker expects a rise in interest rates in the fututre then the best strategy for the present is
Answer:
Increase duration of the bank assets
Explanation:
Because When the duration of assets is longer than the duration of liabilities, this allows for a the duration gap is positive. And so even if interest rates rise, assets will lose more value than liabilities, hence reducing the value of the firm's equity.
The ronnie co. has sales per share of 25.37. If the PS ratio is 1.47 times, what is the stock price?
Answer:
$37.30
Explanation:
Sales per share S = 25.37
PS ratio = 1.47 times
PS ratio = Price to sales ratio = P/S
P/S = 1.53
Price per share = (P/S) * Sales per share
Price per share = 1.47 * 25.37
Price per share = $37.2939
Price per share = $37.30
"what amount of warehouse department cost will be allocated to department music if the service department with the highest percentage"
Complete Question:
Goldfarb's Book and Music Store has two service departments, Warehouse and Data Center. Warehouse Department costs of $310,000 are allocated on the basis of budgeted warehouse -hours. Data Center Department costs of $100,000 are allocated based on the number of computer log-on hours. The costs of operating departments Music and Books are $102,500 and $123,000, respectively. Data on budgeted warehouse-hours and number of computer log-on hours are as follows: Production Departments Support Departments Warehouse Data Center Department Department Music Books Budgeted costs Budgeted warehouse-hours Number of computer hours $310,000 NA 270 $100,000 520 NA $102,50 0 1080 900 $123,00 0 1590 1020 Using the step-down method, what amount of Warehouse Department cost will be allocated to Department Music if the service department with the highest percentage of interdepartmental support service is allocated first? (Do not round any intermediate calculations.) A) $34,702 B) $125,393 C) $33,856 D) $104,953
Answer:
Goldfarb's Book and Music Store
Amount of warehouse department cost allocated to department music is:
D) $104,953
Explanation:
a) Data and Calculations:
Support Departments Production Departments
Warehouse Data Center Music Books
Budgeted costs $310,000 $100,000 $102,500 $123,000
Budgeted warehouse-hours NA 520 1,080 1,590
Number of computer hours 270 NA 900 1,020
b) Allocation of Warehouse costs:
Basis for allocation is budgeted warehouse hours:
Data Center = 520
Music = 1,080
Books = 1,590
Total hours 3,190
Allocation of Warehouse cost to Music:
1,080/3,190 * $310,000 = $104,953
b) The step-down method for allocating the manufacturing overheads of service departments to the production departments involves first allocating one service department's cost to the production departments and other service departments in a step-down manner. After all service departments' costs have been so allocated, there is some re-allocation which then eliminates the costs of some departments. This continues until all service departments' costs are allocated. It is unlike the direct method which allocates one service department costs without allocating them to another service department.
Jan. 14: Purchased 800 shares of Phyflexon stock, paying $50 per share. The investment represents ownership in voting stock. does not have significant influence over . intends to hold the investment for the indefinite future.
Answer:
The Phyflexon stock investment representing ownership in voting stock implies that the investor intends to hold the investment for the indefinite future. It is to be classified as common stock.
Explanation:
Since the investor intends to hold the investment for the indefinite future, he is entitled to dividends when declared. The investment is classified as held to maturity (indefinite) and accounted for using the equity method.
Find the EAR in each of the following cases:
a. 19% compounded quarterly.
b. 15% compounded monthly.
c. 19% compounded daily.
d. 16% with continuous compounding.
Answer:
a. 20.40 %
b. 16.08 %
c. 20.92 %
d. 17.35 %
Explanation:
Effective Annual Interest Rate is the annual rate that if compounded once a year, would give us the same result as the interest per period compounded a number of times per year.
Effective Annual Interest Rate = ( 1 + i/m)^m -1
a. 19% compounded quarterly.
Effective Annual Interest Rate = ( 1 + 0.19/4)^4 -1
= 20.40 %
b. 15% compounded monthly.
Effective Annual Interest Rate = ( 1 + 0.15/12)^12 -1
= 16.08 %
c. 19% compounded daily.
Effective Annual Interest Rate = ( 1 + 0.19/365)^365 -1
= 20.92 %
d. 16% with continuous compounding.
Effective Annual Interest Rate = e^i - 1
= e^(0.16) -1
= 17.35 %
The Work in Process inventory account of a manufacturing company shows a balance of $2,400 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $400 and $200 for direct materials, and charges of $300 and $500 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of: _______a. 300% b. 80% c. 240% d. 125%.
The company that is using a predetermined overhead rate, as a percentage of direct labor costs is option d. 125%.
Calculation of the percentage:
For computing the predetermined overhead rate first determine the overhead cost of uncompleted jobs which is shown below:
= Balance shown - uncompleted jobs of direct materials - uncompleted jobs of direct labors
= $2,400 - $600 - $800
= $1,000
Now the predetermined overhead rate is
= Cost of uncompleted jobs ÷ uncompleted jobs of direct labors
= $1,000 ÷ $800
= 125%
Hence, the correct option is d. 125%
Learn more about direct labor here: https://brainly.com/question/24600755
Diamond is thinking of dropping Product Line C because it is reporting an operating loss. Assuming the company drops Product Line C and does not replace it, pre-tax operating income for the firm will likely:
Answer:
Assuming the company drops Product Line C and does not replace it, pre-tax operating income for the firm will likely:
decrease by $1,500Explanation:
Since no information was provided, I looked for a similar question:
Item Product Line A Product Line B Product Line C
Sales $30,000 $45,000 $12,000
Variable costs $18,000 $24,000 $7,500
Contribution margin $12,000 $21,000 $4,500
Fixed costs:
Avoidable $4,500 $9,000 $3,000
Unavoidable $3,000 $4,500 $2,000
Operating income $4,500 $7,500 ($500)
total unavoidable fixed costs = $2,000 which will be allocated to product lines A and B
the financial disadvantage of dropping product C = $2,000 (unavoidable costs) - $500 (operating loss) = $1,500
D
g Government expenditure ________ change potential GDP and taxes ________ change potential GDP.
Answer:
can ; can
Explanation:
With increasing or decreasing government expenditure there are various other things also associated. Government expenditure is not only done to construct roads, but rather to provide education, to provide better health services, to provide more opportunities.
If an individual is more educated and healthy then the remaining candidates his chances for a better job are even higher, with that he shall contribute to GDP.
With taxes the buying capacity of individuals earning are decreased, also with the levy of taxes government tends to earn more. With this again the GDP suffers directly.
Forms of Business Organization
1. The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations. The main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (LLCs) and limited liability partnerships (LLPs). In terms of numbers, most businesses are_______. However, based on the dollar value of sales, most business is done by_____. Businesses are frequently started as______and then converted to______when their growth results in disadvantages outweighing advantages.
2. A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to_____government regulations, and (3) it is subject to lower income taxes than are______. However, a proprietorship also has three important limitations: (1) A proprietor has______personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.
3. A partnership has two important advantages: (1) It is easily and inexpensively formed and (2) its income is allocated on a pro rate basis to partners and taxed on a(n)_____basis so the partnership avoids higher_____income taxes. A partnership has four important disadvantages: (1)______personal liability, (2)_____life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital.
4. A corporation has the following advantages: (1)_____life, (2) ownership that is easily transferred through the exchange of stock, (3)_____liability, and (4) can______raise large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to______taxation and (2) setting up a corporation and filing required state and federal reports is complex. Large corporations are known as C corporations. However, as an aid to small businesses Congress created S corporations.
5. Limited liability corporations (LLCs) and limited liability partnerships (LLPs) have limited liability protection like______but are taxed like______. Investors in an LLC or LLP have votes in proportion to their ownership interest. LLCs and LLPs have been gaining in popularity, but large companies still find it advantageous to be______corporations because of advantages in raising capital for growth.
Answer:
Forms of Business Organization1. The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a firm's legal structure affects its operations.
The main forms of business organizations are: (1) proprietorships, (2) partnerships, (3) corporations, and (4) limited liability companies (LLCs) and limited liability partnerships (LLPs). In terms of numbers, most businesses are______proprietorships_. However, based on the dollar value of sales, most business is done by_corporations____.
Businesses are frequently started as__Limited Liability Companies____and then converted to_Corporations_____when their growth results in disadvantages outweighing advantages.
2. A proprietorship has three important advantages: (1) It is easily and inexpensively formed, (2) it is subject to_less____government regulations, and (3) it is subject to lower income taxes than are_corporations_____.
However, a proprietorship also has three important limitations: (1) A proprietor has_unlimited_____personal liability for the business' debts. (2) The life of the business is limited to the life of the individual who created it. (3) A proprietorship has difficulty obtaining large sums of capital so proprietorships are used primarily for small businesses.
3. A partnership has two important advantages: (1) It is easily and inexpensively formed and (2) its income is allocated on a pro rate basis to partners and taxed on a(n)_individual____basis so the partnership avoids higher_corporate____income taxes. A partnership has four important disadvantages: (1)_Unlimited_____personal liability, (2)_Limited____life, (3) difficulty of transferring ownership, and (4) difficulty of raising large amounts of capital.
4. A corporation has the following advantages: (1)_Unlimited____life, (2) ownership that is easily transferred through the exchange of stock, (3)_Limited____liability, and (4) can_easily_____raise large amounts of capital to operate large businesses. Its disadvantages are: (1) Corporate earnings may be subject to_corporate_____taxation and (2) setting up a corporation and filing required state and federal reports is complex. Large corporations are known as C corporations. However, as an aid to small businesses Congress created S corporations.
5. Limited liability corporations (LLCs) and limited liability partnerships (LLPs) have limited liability protection like_corporations_____but are taxed like__proprietorships____. Investors in an LLC or LLP have votes in proportion to their ownership interest. LLCs and LLPs have been gaining in popularity, but large companies still find it advantageous to be_formed into_____corporations because of advantages in raising capital for growth.
Explanation:
The above are forms of business organization through which investors can realize their investment dreams.
Project management _____ describe the key competencies that project managers must develop.
Answer:
knowledge areas
Explanation:
Project management "knowledge areas" describe the key competencies that project managers must develop.
In Project management, the "knowledge areas" are very important for project managers in order for them to develop. They are necessary for effective project management.
The Project management knowledge areas merge with project initiation, project planning, project execution, projection monitoring and project controlling and rounds with project closing. It is the major and core technical subject matter.
Price Adjustments This activity is important because as marketing managers set final prices, they start with the list (quoted) price and then make price adjustments to this price as they determine the final price. Wholesalers adjust the list price charged to retailers in the same way that retailers adjust the list price charged to consumers. The goal of this exercise is to identify examples of the three main types of special price adjustments: discounts, allowances, and geographical adjustments.Classify each price adjustment strategy as a discount, allowance, or geographical adjustment.1. To encourage Walmart to stock and carry pool chemicals as early as February, hth Pool Supplies offers Walmart a reduced pallet price on all of its chlorine and shock products for orders delivered before February 15.2. In many global trade transactions, the manufacturer prices the product at the point the producti loaded for shipping. The buyer has the ability to choose the method of shipping and must cover all shipping and handling costs. 3. Raquel has been married almost 20 years and desires a bigger engagement diamond ring. Since her initial diamond was purchased at Jareds, she is able to trade in her old ring and receive credit for its initial retail price toward the purchase of her new ring.4. Nike charges consumers $18 for a three-pack of Men's Dri-FIT crew socks and $24 for a six- pack of Men's Dri-Fit crew socks. When Joshua compared prices on the two packages of socks, he decided to purchase the six-pack since he was saving $2 per pair.5. To get Safeways to feature Capri Sun Juice Drink in a front-of-store feature. Capri Sun offered Safeway a free case of product for every 15 cases it ordered for the display.6. Amaz on offers its Prime members free two-day shipping with their Prime membership on ardless of where the customer lives.
Answer:
1. Discount
2. Geographical adjustments
3. Allowance
4. Discount
5. Allowance
6. Discount
Explanation:
1. Discount for early purchase and delivery order of chlorine and shock products
2. Geographical adjustment of price, due to shipping and handling costs
3. Allowance given to Raquel for the old ring; to help/encourage her purchase a new one (from the store)
4. Discount on the price or cost of purchase, for customers (like Joshua) who would buy more socks at a go
5. Allowance Capri Sun gives to Safeways Store, for every 15 cases of Capri Sun ordered and displayed in front of the store
6. Discount incentive/bonus Amazon is offering its Prime members. Take note of the nomenclature "Prime members". These are customers who make frequent orders or order a lot of products. Amazon is herefore offering a discount.
NOTE:
- A discount is offered to reduce the cost of purchase - which could be direct or indirect - while an allowance is given to encourage a business deal; as in numbers 3 and 5.
Answer:
a
Explanation:
Technicians believe that when the relative strength index is stable or ____ during a ____ market, the stock should do well during a ____ market.
Answer:
Increases, bear, bull
Explanation:
Options includes:
a. Decreases, bull, bear.
b. Increases, bear, bull.
c. Decreases, bear, bull.
d. Increases, bull, bear.
e. None of the above.
Technicians believe that when the relative strength index is stable or increases during a bear market, the stock should do well during a bull market.
Explanation: Technician refers to skilled person in assessing the stock market and trend. Usually they believe that when the momentum indicator used in technical analysis that measures the magnitude of recent price changes shows shows that there is stable decline in the stock market over a period of time, the stock market will be be stable and profitable as well if the stock market is on rise.
Consider the following costs incurred in a recent period:Direct Materials $33,000Depreciation on Factory Equipment $12,000Factory Janitor's Salary $23,000Direct Labor $28,000Utilities for Factory $9,000Selling Expenses $16,000Production Supervisor's Salary $34,000Administrative Expenses $21,000What was the total amount of period costs listed above for the period?
Answer:
$37,000
Explanation:
The following costs were incurred in a recent period
Direct Materials $33,000
Depreciation on Factory Equipment $12,000
Factory Janitor's Salary $23,000
Direct Labor $28,000
Utilities for Factory $9,000
Selling Expenses $16,000
Production Supervisor's Salary $34,000
Administrative Expenses $21,000
Therefore, the total amount of period cost can be calculated as follows
Total amount of period costs = Selling expenses + administrative expenses
= $16,000 + $21,000
= $37,000
Hence the total amount of period costs for the above period is $37,000
Answer: $37,000
Explanation:
Period costs are those costs that are not attributable to the production process so will mostly be administration expenses.
In the above, all expenses are related to the production whether directly or indirectly except selling expenses and admin expenses.
Period Costs = Selling Expenses + Admin expenses
= 16,000 + 21,000
= $37,000
Explain how to invest in securities markets and set investment objectives such as long-term growth, income, cash, and protection from inflation.
Answer with Explanation:
The investment in securities must include purchases of stock of more than 15 industry firms because diversified investment gives an average rate of return on investments. Hence it would be better to lower the risk of investment by simply investing in more than 15 firms and each of them must be from different industry sector. Nowadays due to coronavirus, it would be better to investing in fintech, IT and Hi-Tech industries will pay much more than low tech industries. Tesla is one of these tech companies whose share price have surged by 390% in past 12 months. It doesn't mean that other industry products don't pay enough. Setting objective includes how much yearly investment must be added to you security portfolio so that the net worth of the portfolio keeps growing. The reinvestment of dividends received, insurance of downside risk, investment on the basis of value at risk, etc. are all the set objectives that are considered while investing and managing security portfolio. If you are not confident with setting objectives then investing via investment institutions would be a another best option which had employed hundreds of CFA's who are working to increase the wealth of their potential clients and it is more likely that you take home a better return on investment as compared to a person who has little knowledge of security investments.