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Answer:
svshjejedkisksjhsjshsbebsnsnns
Related Questions
Green Melon Electronics Company's management plans to finance its operations with bank loans that will be repaid as soon as cash is available. The company's management expects that it will take 60 days to manufacture and sell its products and 50 days to receive payment from its customers. Green Melon's CFO has told the rest of the management team that they should expect the length of the bank loans to be approximately 110 days.
Which of the following responses to the CFO's statement is most accurate?
a. The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash for them. The CFO can reduce the estimated length of the bank loan by this amount of time.
b. The CFO's approximation of the length of the bank loans should be accurate, because it will take 110 days for the company to manufacture, sell, and collect cash for its goods. All these things must occur for the company to be able to repay its loans from the bank.
Setting and implementing a credit policy is important for three main reasons:
1. It has a major effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses.
2. It has a minor effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses.
Answers
Answer: a. The CFO is not taking into account the amount of time the company has to pay its suppliers. Generally, there is a certain length of time between the purchase of materials and labor and the payment of cash for them. The CFO can reduce the estimated length of the bank loan by this amount of time.
1. It has a major effect on sales, it influences the amount of funds tied up in receivables, and it affects bad debt losses.
Explanation:
A. Since the company's management expects that it will take 60 days to manufacture and sell its products and 50 days to receive payment from its customers, while Green Melon's CFO informed the rest of the management team that they should expect the length of the bank loans to be approximately 110 days, then it can be inferred that the CFO is not taking into account the amount of time the company has to pay its suppliers.
2. Setting and implementing a credit policy is important because it has a major effect on sales, nfluences the amount of funds tied up in receivables, and it also affects bad debt losses.
Hector and Quinn have decided to form a partnership. Hector is going to contribute the following to the partnership:
Note payable as a bank loan for the new business
Machine
$ 16,000
$31,000
Cash
$10,900
Based on this information, Hector's beginning equity balance in the partnership will be:
Answers
It can be noted that based on this information, Hector's beginning equity balance in the partnership will come to about $46,900.
What is equity?To exact Hector's beginning equity balance in the partnership, we need to calculate the total value of his contributions.
Hector's contributions include derived as follows
Machine = $16,000
Cash = $10,900
Let's assume the bank loan is $20,000 for this example.
Adding these we have
$16,000 + $10,900 + $20,000 = $46,900
Hence, Hector's beginning equity balance in the partnership would be $46,900.
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You have emerged as the leader of your business finance group project in class. Your group has been working together for five weeks on the major part of the project, the in-class group presentation. One group member has missed quite a few group meetings lately and is minimally contributing to the ideas and final product for the in-class presentation. This group member is a junior in finance with a minor in communications and stated that she is an expert in PowerPoint and multimedia presentations. Based on SLII, which leadership style should you exhibit?
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Answer:
Based on SLII, the leadership style you should exhibit in this case is:
Directing.
Explanation:
Directing as a leadership style should not be done in total isolation of the other leadership styles. While the junior member can be delegated to handle the organization of the PowerPoint presentation, there is need to initially direct, coach, and support this member to ensure that group objectives are attained.
Directing ensures that this junior member is properly instructed and supervised.
Coaching ensures that the junior member, having shown some level of competence, is fully engaged to develop all the required skill-set.
Supporting enhances the competence level of the junior group member. This can be achieved through the active participation of the leader in the junior's assignments.
Delegating ensures that the ultimate leadership goal is attained, and this happens when the junior's competence cannot be questioned.
An entry recorded in a general journal will increase the account debited and decrease the account credited. true or false
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True, an entry in a general journal will increase the debited account and decrease the credited account.
What's a journal?A journal is a physical or digital record that is kept in a book, spreadsheet, or data in accounting software for accounting purposes. A bookkeeper makes a journal entry for each financial transaction that occurs in a business. The journal entry will also provide information about any business accounts that are affected by the expense or income.Journaling is an important part of keeping objective records because it lets you review and transfer records quickly later in the accounting process. The general ledger and journals are frequently examined as part of a trade or audit process. Sales, expenses, cash movements, inventory, and debt are all typical entries in a journal.Learn more about journal entry:
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which of the following is not a reason why standard deviation is important to finance? it helps in hypothesis testing. it has predictive power. it is a measure of risk. it forms the basis of the normal distribution.
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Financial advisors who need to assess the profitability of various projects must do hypothesis testing. Thus, this justification does not demonstrate the significance of standard deviation to finance.
What is standard deviation?The term "standard deviation" (or "") refers to a measurement of the data's dispersion from the mean. A low standard deviation implies that the data are grouped around the mean, whereas a large standard deviation shows that the data are more dispersed. Because it aids in comprehending measurements when the data is scattered, standard deviation is significant. The standard deviation of the data will be higher the more evenly dispersed the data is."A large standard deviation isn't always a bad thing; it just represents a large degree of variance in the group that is being investigated," explains Rumsey in Statistics for Dummies..To learn more about standard deviation, refer to:
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the process of deciding what should be done, how and when it should be done and who should do it is known as
Answers
Answer:
Planning.
Explanation:
Management involves the control, planning and organization of the affairs of a business firm.
Basically, the management of an organization is saddled with the responsibility of planning, organizing, controlling and staffing within the organization.
The four (4) main management activities are;
I. Organizing
II. Controlling
III. Motivating.
IV. Planning.
Planning can be defined as the process of developing organizational objectives and translating them into action plans or courses of action.
This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.
This ultimately implies that, planning is a strategic process which typically involves deciding what should be done, how and when it should be done and who should do it.
There are opportunities for independent thinking in collaborative classrooms.
True
False
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Answer:
True
Explanation:
Stephen is a day trader who constantly buys and sells only medical-related stocks. Stephen has _____ asset allocation strategy and a(n) _____ security selection strategy.
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Answer: a passive; active
Explanation:
When a person or institution is said to have a passive asset allocation strategy it means that they either trade the same assets over and over or apply the same weighting to the asset class every time. Stephen only trades medical-related stocks so is using passive allocation.
An active security selection strategy means that the person or institution constantly changes and trades the stocks in their portfolio much like Stephen does when he constantly trades stock. Stephen is therefore using an active security selection strategy.
Mr Munzara is a currency arbitrager for BE Forward, Tokohama. The spot rate this morning is ¥111.22/$ and early indications are that short term interest rates in the USA, 90 – day rates, are about to rise from their current level of 3.125%. The central bank of USA, the Fed, is worried about rising inflation and has been publicly considering raising interest rates 25 basis points (0.25%). The 90 – day forward rate to Munzara by local Japanese banks are roughly the same at ¥111.14/$. The current 90 – day yen euro-deposit rate of interest is 2.156%. Mr Munzara has ¥800 million at his disposal.
(a) How can Munzara make a profit through covered interest arbitrage?
(b) How much in yen can he hope to make in profit in 90 days?
(c) If future spot exchange rates were determined by interest rate differentials alone (that is, if the forward rate was a very good forecast of future spot exchange rates), what would Munzara expect the spot rate to be in 90 days if the USA Federal Reserve Bank does the expected?
(d) If Munzara’s expectation of the future spot rate is that of part (c), what profit could he expect to make from uncovered interest arbitrage?
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1. Borrowing in yen: Munzara borrows ¥800 million from a Japanese bank at the current interest rate of 2.156% for 90 days.
2. Converting yen to dollars: Munzara converts the borrowed yen to dollars at the spot exchange rate of ¥111.22/$, which gives him approximately $7,188,893.23.
3. Investing in the US: Munzara invests the dollars in a US bank or financial instrument that offers an interest rate higher than the yen interest rate.
4. Converting back to yen: After 90 days, Munzara converts the matured investment and interest earnings back to yen at the 90-day forward rate of ¥111.14/$.
5. Repaying the yen loan: Finally, Munzara repays the yen loan, including interest, to the Japanese bank.
The difference between the amount received in step 4 and the amount repaid in step 5 represents the profit from covered interest arbitrage.
(b) To calculate the profit in yen, we need to consider the interest earned on the dollar investment. Assuming Munzara finds a US investment offering a 90-day interest rate higher than 2.156%, we can estimate the profit after 90 days by subtracting the yen loan repayment from the dollar investment and interest converted back to yen at the 90-day forward rate.
(c) If future spot exchange rates were determined solely by interest rate differentials, and assuming the forward rate is an accurate predictor, Munzara would expect the spot rate in 90 days to be ¥111.14/$. This expectation is based on the assumption that the interest rate differential between the US and Japan would be reflected in the forward rate.
(d) If Munzara's expectation of the future spot rate is ¥111.14/$, and he engages in uncovered interest arbitrage, it means he speculates on the future spot rate without covering his position. If the actual spot rate in 90 days turns out to be ¥111.14/$, there would be no profit or loss from uncovered interest arbitrage, as his speculation aligns with the spot rate.
The initial cash outlay of a project is X is Rs 100,000 and it can generate cash inflow of Rs 40,000, Rs 30,000, Rs 50,000 and Rs 20,000 in year 1 through 4. Assume a 10 per cent rate of discount. Assume that a project Y requires an outlay of Rs 50,000 and yields annual cash inflow of Rs 12,500 for 7 years at the rate of 12%.
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On the net present value analysis, project Y is expected to generate a higher return on investment compared to project X.
To evaluate the two projects, X and Y, we will calculate their net present value (NPV) using the given cash inflows, discount rate, and initial cash outlay.
For project X:
The cash inflows for each year are Rs 40,000, Rs 30,000, Rs 50,000, and Rs 20,000 for years 1 through 4, respectively.
The initial cash outlay is Rs 100,000.
The discount rate is 10%.
To calculate the NPV, we discount each cash inflow to its present value using the discount rate and subtract the initial cash outlay:
NPV(X) = (40,000 / (1 + 0.10)^1) + (30,000 / (1 + 0.10)^2) + (50,000 / (1 + 0.10)^3) + (20,000 / (1 + 0.10)^4) - 100,000
Simplifying the calculations:
NPV(X) = 36,363 + 24,793 + 34,979 + 13,167 - 100,000
= 9,302
The net present value (NPV) for project X is Rs 9,302.
For project Y:
The cash inflow for each year is Rs 12,500 for 7 years.
The initial cash outlay is Rs 50,000.
The discount rate is 12%.
Using the same formula as above, we calculate the NPV for project Y:
NPV(Y) = (12,500 / (1 + 0.12)^1) + (12,500 / (1 + 0.12)^2) + ... + (12,500 / (1 + 0.12)^7) - 50,000
Simplifying the calculations:
NPV(Y) = 11,161 + 9,960 + 8,888 + ... + 3,637 - 50,000
= 11,042
The net present value (NPV) for project Y is Rs 11,042.
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Question 2. (6)
Briefly explain why Investors, Competitors and Suppliers take interest in
accounting information related to a business. (Please include examples)
Answers
Answer:
They like googIe
Explanation:
The student who knows almost immediately how well he or she did on a test is high on this dimension, but the employee who hasn’t talked to his or her boss for a year is probably low. Which term is this?
A. Skill variety
B. Feedback
C. Task significance
D. Task identity
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Answer:
A )Skill variety is right
When must you wash your hands
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Answer:
Before, during, and after preparing food. Before and after eating food. Before and after caring for someone at home who is sick with vomiting or diarrhea. Before and after treating a cut or wound.
wash your hands before and after always and preferably with antibacterial soap
You, a Captain, are a section chief in Military Personnel and 2d Lt Smith’s supervisor. Lt Smith is a Force Support Officer. She has been on active duty for a year and in her present job for 10 months. She supervises 21 enlisted personnel who perform a variety of administrative tasks in support of a tactical fighter wing. She majored in business administration in college, served 3 years as an administrative specialist, and was an E-4 before being accepted for OTS. As an enlisted member, she graduated from technical school as an honor graduate and was cited on numerous occasions for outstanding performance. Her supervisors considered her a valuable asset to the unit and an expert in her area of responsibility. She’s very enthusiastic about her work and plans to make the Air Force a career.
Lieutenant Smith took over her job 2 months after the unit had received a rating of “marginal” by the numbered Air Force Inspector General’s evaluation team. At the end of her first week on the job, Lt Smith called her NCOIC and key supervisors together and told them that she wouldn’t tolerate marginal performance, that she had previous experience in this type of work, and would be looking at the quality of their work very closely. Since that time, Lt Smith has attempted to supervise every phase of work in her office and, at times, has involved herself in even the most routine decisions. Lt Smith assigns people to certain jobs within the office, plans the work schedule, leave schedule, and does most of the counseling in the office.
In the last 6 months, Lt Smith has ordered several people to work overtime to complete routine work ahead of schedule. Each time this has happened, the NCOIC has asked the lieutenant for permission to speak to her immediate supervisor. On each occasion, the lieutenant has told the senior master sergeant he must not take these internal problems to you, because she’ll take care of any problems in her section--and the NCOIC should remember who writes his EPR.
Most of the time, when Lt Smith approaches the work or break area where the workers are congregated, she notices all conversation stops and the personnel won’t talk to her unless she addresses them first. After reviewing a report yesterday, Lt Smith became very impatient. She bypassed his NCOIC and took the report directly to the Airman who had typed it. While Lt Smith was berating the Airman about the typing errors, the NCOIC walked into the office and asked the Airman what the problem was. The lieutenant became flustered, told the NCOIC she was tired of doing his job for him, and shoved the report into his hands. Lt Smith then went into her office and slammed the door.
The NCOIC relayed this situation to you and asked for your help. How will you help? BACKGROUND
*ENVIRONMENT: Airforce Base
*PEOPLE INVOLVE: The Captain, Lt Smith, Airman and NCOIC.
PROBLEM DEFINATION
*Lt Smith Unprofessional Behavior
DIAGNOSIS
*Marginal Performance
*Previous Experience
*Enthusiastic With her Job
*Academic Credibility
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The lieutenant Smith has taken leave, and everything is running smoothly. People are, however, more attentive when she is present. Decisions are being delayed, and morale was low. The and other important supervisors are worried which some people may decide to due to her supervision, leave the service style.
Several issues must be addressed as a result of this case study. Lieutenant Smith's micromanagement technique is causing morale issues and may lead to retention issues, which is one of the main concerns. It's also troubling that she's requesting people to work extra hours without proper authorization or regard for the impact on their personal lives.
As her boss, you ought to tackle these concerns with Lt Smith and advise her on proper supervisory techniques. You could advise her to delegate more responsibilities to her NCOIC and other key supervisors, and to concentrate in strategic planning and decision-making instead of micromanaging every detail. We should also emphasise the significance of adhering to proper procedures for authorising overtime and taking into account the impact on personnel.
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1. What's the term for service that is designed to be tailored to a specific customer's needs
and interests?
A. Customer service
B. Quality service
C. Personalized service
D. Helpful service
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Frolic Corporation has budgeted sales and production over the next quarter as follows: August September Sales in units Production in units July 50,000 71,200 62,000 62,300 66,650 The company has 6000 units of product on hand at July 1. 10% of the next month's sales in units should be on hand at the end of each month. October sales are expected to be 81,500 units. Budgeted sales for September would be (in units):__________.
A) 74,800
B) 65,000
C) 74,000
D) 72,850
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Can you name me 2 commercial products that donate to nonprofit organization?
Answers
Two commercial products that donate to nonprofit organizations are Netflix and Amazon.
What are nonprofit organizations?Nonprofit organizations or non-profit organizations, also known as non-business entities, not-for-profit organizations, or nonprofit institutions, is a legal entities organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties.
An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs etc.
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Omar (single) is a 50 percent owner in Cougar LLC (taxed as a partnership). Omar works half time for Cougar and receives guaranteed payment of $50,000. Cougar LLC reported $450,000 of business income for the year (2022). Before considering his 50 percent business income allocation from Cougar and the self-employment tax deduction (if any), Omar's adjusted gross income is $210,000 (includes $50,000 guaranteed payment from Cougar and $160,000 salary from a different employer). Omar reports itemized deductions of $40,000. Answer the following questions for Omar.
Note: Leave no answer blank. Enter zero if applicable. Round your intermediate calculations and final answers to the nearest whole dollar.
b. What would be Omar's self-employment tax liability if he didn't receive any salary.
Sandra would like to organize LAB (a legal corporation) as either an S corporation or a C corporation for tax purposes. In either form, the entity is expected to generate an 8 percent annual before-tax return on a $875,000 investment. Sandra's marginal income tax rate is 37 percent and her tax rate on qualified dividends and net capital gains is 20 percent. LAB's income is not qualified business income (QBI), so Sandra is not allowed to claim the QBI deduction. Assume that LAB will distribute all of its earnings after entity-level taxes every year. Ignore the additional Medicare tax and the net investment income tax when computing your answers.
Note: Round your intermediate computations to the nearest whole dollar amount.
a. How much cash after taxes would Sandra receive from her investment in the first year if LAB is organized as either an S corporation or a C corporation?
Sandra would like to organize LAB (a legal corporation) as either an S corporation or a C corporation for tax purposes. In either form, the entity is expected to generate an 8 percent annual before-tax return on a $875,000 investment. Sandra's marginal income tax rate is 37 percent and her tax rate on qualified dividends and net capital gains is 20 percent. LAB's income is not qualified business income (QBI), so Sandra is not allowed to claim the QBI deduction. Assume that LAB will distribute all of its earnings after entity-level taxes every year. Ignore the additional Medicare tax and the net investment income tax when computing your answers.
Note: Round your intermediate computations to the nearest whole dollar amount.
b. What is the overall tax rate on LAB's income in the first year if LAB is organized as an S corporation or as a C corporation?
Note: Round your final answers to 2 decimal places.
Willow Corporation (a calendar-year C corporation) reported taxable income before the net operating loss deduction (NOL) in the amount of $100,000 in 2022. Willow had an NOL carryover of $90,000 to 2022. How much tax will Willow Corporation pay in 2022, what is its NOL carryover to 2023, and when will the NOL expire under the following assumptions?
Note: Leave no answer blank. Enter zero if applicable.
b. $40,000 of the NOL was generated in 2016 and $50,000 was generated in 2021.
Answers
Answer:
b. If Omar didn't receive any salary, his self-employment tax liability would be calculated as follows:
Net earnings from self-employment = 50% x $450,000 = $225,000
Self-employment tax = 0.9235 x 0.153 x $225,000 = $32,651
Therefore, Omar's self-employment tax liability would be $32,651 if he didn't receive any salary.
a. If LAB is organized as an S corporation, Sandra's cash after taxes in the first year would be:
LAB's before-tax income = 8% x $875,000 = $70,000
LAB's entity-level tax (assuming a 21% corporate tax rate) = 0.21 x $70,000 = $14,700
LAB's after-tax income = $70,000 - $14,700 = $55,300
Sandra's share of after-tax income (assuming 100% ownership) = $55,300
Sandra's individual income tax on LAB's income (at 20%) = 0.2 x $55,300 = $11,060
Sandra's total cash after taxes = $55,300 - $11,060 = $44,240
If LAB is organized as a C corporation, Sandra's cash after taxes in the first year would be:
LAB's before-tax income = 8% x $875,000 = $70,000
LAB's entity-level tax (assuming a 21% corporate tax rate) = 0.21 x $70,000 = $14,700
LAB's after-tax income = $70,000 - $14,700 = $55,300
LAB's dividend to Sandra = $55,300
Sandra's individual income tax on the dividend (at 20%) = 0.2 x $55,300 = $11,060
Sandra's total cash after taxes = $55,300 - $11,060 = $44,240
Therefore, Sandra's cash after taxes would be the same in the first year regardless of whether LAB is organized as an S corporation or a C corporation.
b. The overall tax rate on LAB's income in the first year would be:
- For an S corporation: (entity-level tax / before-tax income) + (individual tax rate on share of after-tax income / (1 - entity-level tax rate))
- For a C corporation: (entity-level tax / before-tax income) + (individual tax rate on dividend / (1 - entity-level tax rate))
Using the numbers from part (a), we get:
- For an S corporation: ($14,700 / $70,000) + (0.2 / (1 - 0.21)) = 0.342 or 34.2%
- For a C corporation: ($14,700 / $70,000) + (0.2 / (1 - 0.21)) = 0.342 or 34.2%
Therefore, the overall tax rate on LAB's income in the first year would be 34.2% regardless of whether LAB is organized as an S corporation or a C corporation.
b. Willow Corporation's taxable income after the NOL deduction is $100,000 - $90,000 = $10,000.
Assuming a corporate tax rate of 21%, Willow Corporation's tax liability for 2022 would be:
Tax liability = 0.21 x $10,000 = $2,100
The NOL carryover to 2023 would be $90,000 - $10,000 = $80,000.
If $40,000 of the NOL was generated in 2016 and $50,000 was generated in 2021, the NOL carryover would expire as follows:
- $40,000 of the NOL would expire in 2036 (20-year carryforward from 2016)
- $50,000 of the NOL would expire in 2031 (10-year carryforward from 2021)
Therefore, Willow Corporation's tax liability for 2022 would be $2,100, its NOL carryover to 2023 would be $80,000, and the NOL carryover would expire in part as described above.
describe why most countries are described as having a mixed economy
Answers
Explanation:
A mixed economic system is a system that combines aspects of both capitalism and socialism. A mixed economic system protects private property and allows a level of economic freedom in the use of capital, but also allows for governments to interfere in economic activities in order to achieve social aims.
jane found classified information in breakroom. What is first action
Answers
Answer:
Secure the information in a GSA-approved security container
COMPLETE ANSWER
THE ANSWER TO THE QUESTION IS I'M GOING TO VOTE BRAINLIEST.
PLSS ANSWER ASAP.
Direction: Identify the following. Write Strength, Weakness, Opportunities orThreat on the line.
1. Weak Leadership -
2. Strong Competition-
3. Popular Brand -
4. Competitive Salary-
5. Incompetent Manager-
6. Wide Range of Customers -
7. Reasonable Price -
8. Money Devaluation -
9. Unskilled Workers-
10. High Cost of Importation of Raw Materials -
Answers
Strength, Weakness, Opportunities, or Threat is displayed on the line.
1. Weakness in weak leadership
2. Opportunity despite Strong Competition
3. strength is well-known brands
4. Strength is Salary Competition
5. Unqualified Manager - flaw
6. Numerous Customers - Possibility
7. Reasonable Cost - Chance
8. The threat of money devaluation
9. Weakness: Unskilled Workers
10. A weakness is the high cost of importing raw materials.
What is SWOT analysis and what does it look like?A framework known as a SWOT analysis is used to identify and evaluate an organization's strengths, weaknesses, opportunities, and threats. The acronym SWOT is composed of these words. SWOT analysis's main objective is to raise awareness of the elements that influence business decisions and the formulation of business strategies.
SWOT (strengths, weaknesses, opportunities, and threats) analysis is a technique for determining and assessing internal strengths and weaknesses as well as external opportunities and threats that have an impact on present and future operations and aid in the development of strategic goals.
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Pls can someone answer quick they are multiple choice
2. Which one of the following is not a characteristic generally evaluated in analysing financial
statements?
(1 Point)
O Liquidity
O Profitability
O Marketability
O Solvency
3. Comparisons of financial data made within a company are called (1 Point)
O intracompany comparisons.
O interior comparisons
O intercompany comparisons
O intramural comparisons
Answers
Marketability, one of the following is not a characteristic generally evaluated in analyzing financial statements. Thus, option (c) is correct.
Comparisons of financial data made within a company are called intracompany comparisons. Thus, option (a) is correct.
What is company?The term company refers to the legal entities that are legally registered in accordance with the Company Act. Company is the main goal to earn higher profit, and they maintain the goodwill.
According to the financial statements, are the created with the help of the marketability of the product. There was the financial data are the company to the entry are the intracompany comparisons.
Therefore, option (c) and 2. (a) is correct.
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Which of the following is part of an organization's general environment?
Answers
Explanation:
incomplete question,you need to complete your question for a correct answer
Example of a market for a good or service that is not rely on a physical store or location 
Answers
An example of a market for a good or service that does not rely on a physical store or location is the online marketplace. With the advent of the internet and e-commerce platforms, businesses and individuals can sell products and services entirely online without the need for a brick-and-mortar store.
Online marketplaces, such as Amazon, eBay, and Alibaba, provide a platform where buyers and sellers can connect and conduct transactions electronically. These platforms enable businesses to showcase their products, provide detailed descriptions, and facilitate secure online payments. Customers can browse through a wide range of products, compare prices, read reviews, and make purchases from the comfort of their own homes.
The online marketplace has revolutionized various industries, including retail, entertainment, travel, and professional services. It allows businesses to reach a global customer base, operate 24/7, and reduce overhead costs associated with physical stores. Additionally, it provides convenience for consumers, who can shop anytime, anywhere, and have products delivered to their doorstep.
Overall, the online marketplace has transformed the way goods and services are bought and sold, offering a virtual alternative to traditional physical stores and locations.
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Applying and Analyzing Inventory Costing Methods
At the beginning of the current period, Chen carried 1,000 units of its product with a unit cost of $32. A summary of purchases during the current period follows.
Unit cost is $32
Units Unit Cost Cost
Beginning Inventory 1,000 $32 $32,000
Purchase #1 1,800 34 61,200
Purchase #2 800 38 30,400
Purchase #3 1,200 41 49,200
During the current period, Chen sold 2,800 units.
(a) Assume that Chen uses the first-in, first-out method. Compute both cost of good sold for the current period and the ending inventory balance. Use the financial statement effects template to record cost of goods sold for the period.
Ending inventory balance $Answer
Cost of goods sold $Answer
Use negative signs with answers, when appropriate.
Balance Sheet
Transaction Cash Asset +
Noncash
Assets
= Liabilities +
Contributed
Capital
+
Earned
Capital
Record FIFO cost of goods sold Answer Answer Answer Answer Answer
Income Statement
Revenue
-
Expenses
=
Net
Income
Answer Answer Answer
(b) Assume that Chen uses the last-in, first-out method. Compute both cost of good sold for the current period and the ending inventory balance.
Ending inventory balance $Answer
Cost of goods sold $Answer
(c) Assume that Chen uses the average cost method. Compute both cost of good sold for the current period and the ending inventory balance.
Ending inventory balance $Answer
Cost of goods sold $Answer
(d) Which of these three inventory costing methods would you choose to:
1. Reflect what is probably the physical flow of goods?
LIFO FIFO Average Cost
2. Minimize income taxes for the period?
LIFO FIFO Average Cost
3. Report the largest amount of income for the period?
LIFO FIFO Average Cost
Answers
Answer:
Applying and Analyzing Inventory Costing Methods
Chen
a1. Cost of goods sold 2,800 units = $93,200
a2. Ending Inventory 2,000 units = $79,600
b1. Cost of goods sold 2,800 units = $106,800
b2. Ending Inventory 2,000 units = $66,000
c1. Cost of goods sold 2,800 units = $100,800 (2,800 *$36)
c2. Ending inventory 2,000 units = $72,000 (2,000 * $36)
d1. To reflect the physical flow of goods, I would choose the FIFO method.
d2. To minimize income taxes for the period only, I would choose the LIFO method.
d3. LIFO method would report the largest amount of income for the period.
NB: LIFO is chosen only for the current period. In the subsequent period the gain will reverse.
Explanation:
a) Data and Calculations:
Units Unit Cost Cost Total Cost
Beginning Inventory 1,000 $32 $32,000 $32,000
Purchase #1 1,800 34 61,200 93,200
Purchase #2 800 38 30,400 123,600
Purchase #3 1,200 41 49,200 172,800
Total 4,800 $172,800
Average cost = $172,800/4,800 = $36
Sales during the period = 2,800 units
b) FIFO (First-in, first-out) method:
Computation of:
1. Cost of goods sold
Beginning Inventory 1,000 $32 $32,000
Purchase #1 1,800 34 61,200
Cost of goods sold 2,800 $93,200
2. Ending Inventory
Purchase #2 800 38 30,400
Purchase #3 1,200 41 49,200
Ending Inventory 2,000 $79,600
c) LIFO (Last-in, first-out) method:
Computation of:
1. Cost of goods sold
Purchase #1 800 34 27,200
Purchase #2 800 38 30,400
Purchase #3 1,200 41 49,200
Cost of goods sold 2,800 $106,800
2. Ending Inventory
Beginning Inventory 1,000 $32 $32,000
Purchase #1 1,000 34 34,000
Ending Inventory 2,000 $66,000
d) Average Method:
Units Unit Cost Cost Total Cost Average Cost
Beginning Inventory 1,000 $32 $32,000 $32,000 $32
Purchase #1 1,800 34 61,200 93,200 $33.29
Purchase #2 800 38 30,400 123,600 $34.33
Purchase #3 1,200 41 49,200 172,800 $36
Ernie Company's Trial Balance as at 31 December 2022 shows the following unadjusted balances: Accounts Receivable Allowance for Doubtful The company wanted to make the following adjustments: (a) $8,0000 of balances owing by a customer (Mr Lai) is to be written off. (b) 10% of amount owing by customers is expected to be uncollectible. Required: Accounts Receivable $158,000 Debit Allowance for Doubtful $12,400 Credit
(a) Prepare the journal entries. (2 marks) (b) Calculate the amount of cash realizable value of Accounts Receivable, as at 31 December 2022. (3 marks)
Answers
The prepared journal entry is To cancel Mr. Lai's outstanding debt: Accounts Receivable: $8000 from Mr. Lai
$8000 as a provision for doubtful accounts
To document the allowance for dubious debts:
Bad Debt Cost: $158,000 multiplied by 10% $15,800
Compensation for Uncertain Accounts $15,800
In your company's books, a journal entry serves as a documentation of a business transaction. Every transaction requires at least two diary entries in double-entry bookkeeping.
How to determine the cash realisable value:Receivables - $158,000 = $168,000: Doubtful Accounts Allowance = $12,400 Accounts Receivable cash realisable value is $145,600. As a result, at the end of 2022, the cash realisable value of accounts receivable was $145,600.
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Please help in one minute will mark BRAINLIST
Answers
Answer:
A, B
Explanation:
Might be wrong, there is no guarantee
A craft shop buys stuffed animals with a list price of $7,000. If the wholesaler offers trade discounts of 35/35/35, find the net price factor.
• 0.04288
• 0.21600
• 0.27463
• 0.34300
Answers
Based on the wholesale trade discounts offered by the seller to the craft shop that buys stuffed animals, the net price factor is 0.27463
What is the net price factor?First, find the difference between 100% and the trade discounts:
= 100% - 35%
= 65%
The difference is 65/65/65.
To find the net price factor, multiply these differences:
= 0.65 x 0.65 x 0.65
= 0.274625
= 0.27463
In conclusion, the net price factor based on the trade discounts offered of 35/5/35 and a list price of $7,000 is 0.27463.
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to the person that has the top answer, you're useless. i hope u know that :)
Answers
Answer:
lol
Explanation:
tolerance and trust at work place practice