Ultimate Business Study Guide - Questions & Answers
Torres Company accumulates the following summary data for the year ending December 31, 2020, for its Water Division, which it operates as a profit center: sales$2,076,800 budget, $2,240,000 actual; variable costs$1,002,000 budget, $1,054,100 actual; and controllable fixed costs$298,600 budget, $303,800 actual.Prepare a responsibility report for the Water Division for the year ending December 31, 2020.
TravelLite and FareLine compete as online travel agencies. Historically, TravelLite has focused more on flights, whereas FareLine has focused on hotel bookings. The following amounts were reported by the two companies in 2015. (in millions)Net Income Total Assets Total Liabilities Total Revenues TravelLite$1,080 $9,010 $6,400 $6,430 FareLine 3,020 8,490 4,270 7,660 Required: Calculate each companys net profit margin expressed as a percent. (Round your answers to 1 decimal place.)
Question One The cost of plant in use with Hand Sanitizer Ltd (Hand Sanitizer), a manufacturing firm on 1st April 2018 was GH375,000 against which the accumulated depreciation stood at GH157,500 on that date. The firm provided depreciation at 30% of the diminishing value. On 31st December 2018 two plants costing GH22,500 and GH18,000 respectively, both purchased on 1st October 2015, had to be discarded because of damages and had to be replaced by two new plants costing GH30,000 and GH22,500 respectively. One of the discarded plants was sold for GH12,000, against the other it was expected that GH4,500 would be realisable. Required: Show the relevant accounts in the ledger of Hand Sanitizer for the year ended 31st March 2019. (7 mark
Agricultural output is affected by the weather. Excessively high temperatures and a lack of rainfall are detrimental too crop yields. Of course, all farmers want the best growing conditions possible, and they work with whatever the weather is, in order to maximize their crop yield. Suppose, however, for a particular crop, this is a bad year and there is a decrease in crop yield, and therefore less of the good is produced. Is there any way this could be beneficial for the framersrevenue? a) Without the use of a diagram, in your own words, layout the conditions) under which this could happen b) Suppose you have a bright but sceptical friend who doubts your answer in part (a). Without relying on technical jargonexplain (again, in your own words) how such a surprising result is possible