Answer:
False
Explanation:
managerial accounting is simply the sorting or gathering/preparing of accounting information that is to be used within a company. It help to ensure the organization's goals are met effectively and efficiently.
Functions of Management Accountant includes Planning(deciding on the long-term direction of the company e.g. making budget)
Assume that Blossom Company uses a periodic inventory system and has these account balances: Purchases $374,100; Purchase Returns and Allowances $12,700; Purchase Discounts $6,000; and Freight-in $16,600. Blossom Company has beginning inventory of $61,600, ending inventory of $88,100, and net sales of $652,800. Determine the amounts to be reported for cost of goods sold and gross profit.
Answer and Explanation:
The computation of the amount that should be reported for the cost of goods sold and the gross profit is shown below;
But before that first determine the following amounts
Adjusted Purchases = Purchases - Purchase Returns and Allowances - Purchase Discounts + Freight-in
= $374,100 - $12,700 - $6,000 + $16,600
= $372,000
Now the cost of goods sold is
= Beginning Inventory + Adjusted Purchases - ending Inventory
= $61,600 + $372,000 - $88,100
= $345,500
And,
Gross Profit = Net Sales - cost of goods sold
= $652,800 - $345,500
= $307,300
How can you price your product or service at its worth or even more? You can price your product or service at its worth or even more if you offer __ facility.
Will give 35 points !!!!!!
Answer:
AVERAGE
Explanation:
took it on PLATO
Elston Company issued $500,000 of eight percent, 20-year bonds at 106 on January 1, 2010. Interest is payable semiannually on July 1 and January 1. Through January 1, 2016, Elston amortized $5,000 of the bond premium. On January 1, 2016, Elston retired the bonds at 103 (after making the interest payment on that date).
Prepare the journal entry to record the bond retirement on January 1, 2016.
Logan Company had the following transactions:
Apr. 8: Issued a $5,000, 60-day, six percent note payable in payment of an account with Bennett Company.
May 15: Borrowed $40,000 from Lincoln Bank, signing a 60-day note at nine percent.
Jun 7: Paid Bennett Company the principal and interest due on the April 8 note payable.
Jul. 6: Purchased $12,000 of merchandise from Bolton Company; signed a 90-day note with ten percent interest.
Jul. 14: Paid the May 15 note due Lincoln Bank.
Oct.2: Borrowed $30,000 from Lincoln Bank, signing a 120-day note at 12 percent.
Oct. 4: Defaulted the note payable to Bolton Company.
Required:
a. Record these transactions in general journal form.
b. Record any adjusting entries for interest in general journal form. Logan Company has a December 31 year-end.
Answer:
Prepare the journal entry to record the bond retirement on January 1, 2016.
total bond premium = $500,000 x 1.06 = $530,000
carrying bond value = $530,000 - $5,000 = $525,000
gain/loss = carrying value - cash paid = $525,000 - $515,000 = $10,000
Keep in mind the carrying value – cash paid to retire bonds = gain or loss on bond retirement
Dr Bonds payable 500,000
Dr Premium on bonds payable 25,000
Cr Cash 515,000
Cr Gain on retirement of bonds 10,000
Apr. 8: Issued a $5,000, 60-day, six percent note payable in payment of an account with Bennett Company.
Dr Accounts payable 5,000
Cr Notes payable 5,000
May 15: Borrowed $40,000 from Lincoln Bank, signing a 60-day note at nine percent.
Dr Cash 40,000
Cr Notes payable 40,000
Jun 7: Paid Bennett Company the principal and interest due on the April 8 note payable.
Dr Notes payable 5,000
Dr Interest expense 50
Cr Cash 5,050
Jul. 6: Purchased $12,000 of merchandise from Bolton Company; signed a 90-day note with ten percent interest.
Dr Merchandise inventory 12,000
Cr Notes payable 12,000
Jul. 14: Paid the May 15 note due Lincoln Bank.
Dr Notes payable 40,000
Dr Interest expense 600
Cr Cash 40,600
Oct.2: Borrowed $30,000 from Lincoln Bank, signing a 120-day note at 12 percent.
Dr Cash 30,000
Cr Notes payable 30,000
December 31, adjusting entry
Dr Interest expense 600
Cr Interest payable 600
Oct. 4: Defaulted the note payable to Bolton Company.
No journal entry required
Sales price $6.74 per unit
Variable costs $2.33 per unit
Fixed Costs $9376
Budgeted number of units 5317
What is margin of safety in units?(Round to the nearest whole unit in your final answer)
Answer:
Margin of safety = 3190.922902 units rounded off to 3191 units
Explanation:
Margin of safety is the cushion or extra number of units that the business sells over the break even point in units. The break even point is the point where total revenue equals total cost and the business earns no profit or no loss. To calculate the margin of safety in units, we deduct the break even number of units from the budgeted number of units or sales.
Margin of safety = Budgeted units - Break even number of units
First we need to calculate the break even in units. The formula for break even in units is,
Break even in units = Fixed cost / (Selling price per unit - Variable cost per unit)
Break even in units = 9376 / (6.74 - 2.33)
Break even in units = 2126.077098 rounded off to 2126 units
Margin of safety = 5317 - 2126.077098
Margin of safety = 3190.922902 units rounded off to 3191 units
The margin of safety = 3190.922902 units rounded off to 3191 units
What is margin of safety?The margin of safety is the cushion or extra number of units that the business sells over the break-even point in units. The break-even point is the point where total revenue equals total cost and also the business earns no profit or no loss. To calculate the margin of safety in units, we deduct the break-even number of units from the budgeted number of units or sales.
"The margin of safety = Budgeted units - Break-even number of units"
First, we'd like to calculate the break-even in units. The formula for break-even in units is,
Break-even in units = fixed charge / (Selling price per unit - Variable cost per unit)
Break-even in units = 9376 / (6.74 - 2.33)
Break-even in units = 2126.077098 rounded off to 2126 units
Margin of safety = 5317 - 2126.077098
The margin of safety = 3190.922902 units rounded off to 3191 units
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20 Point
Which portion of the passage indicates that Neil’s prototype product requires many more changes?
1.(Neil created a robot that works on certain commands.) 2(However, the robot freezes and dismantles itself on hearing commands it does not recognize.) 3(While the robot recognizes most commands,) 4(it sometimes confuses similar-sounding commands.) 5(Neil spent five years creating this robot and invested all his savings in it.)
Answer:
Number 2 or Number 4.
Explanation:
On number 2, the robot freezes when it doesn't recognize the command. Obvious problem. On number 4, the robot confuses similar sounding commands. Also an obvious problem.
Answer:
2
Explanation:
The amount of goods and services consumers want is called?
Answer:
C. Demand
Explanation:
Have a nice day
The amount of goods and services that consumers want is called demand.
What is demand?Demand is an economic concept that refers to a consumer's desire to buy goods and services as well as their willingness to pay a certain price for them. When the price of a good or service rises, the quantity demanded falls. Similarly, lowering the price of a good or service raises the quantity demanded.
Demand is a concept that both consumers and businesses are familiar with because it makes sense and occurs naturally throughout almost any day. For example, shoppers who have their eye on a product will buy more if the price is low. When prices rise, such as when the seasons change, shoppers buy fewer items, or none at all.
Therefore, demand is the amount of goods and services consumers want.
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On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances:
I need help with the analysis part. Thank you!
Answer:
first part
Return on equity = net income / equity =
net income = total revenue - expenses = $66,500 - $42,700 (salaries) - $6,900 (utilities) - $8,000 (supplies) - $1,675 (depreciation) - $2,700 (taxes) = $4,525
equity = $153,200 (Dec. 31 balance) + $42,000 (new stocks issued) - $20,000 (treasury stocks) - $3,620 (dividends) + 17,600 (treasury stocks sold) + $4,525 (net income) = $193,705
ROE = $4,525 / $193,705 = 2.34%
The company is less profitable than other companies in the same industry.
second part
total stocks outstanding = 18,100
third part
EPS for January = $4,525 / 18,100 = $0.25
EPS for January is higher than last year's average
Select the correct answer
Wyatt is a businessman. He often travels to different places for business purposes and spends money on hotel stays and get-togethers with
other businesspeople. He wants to keep track of his spending and not worry about falling short on money during a business trip. What advice
would you offer him to achieve this goal?
A take out a business loan
O carry cash
use a credit card
ask trusted colleagues to carry money
Reset
Next
Answer:
use a credit card
Explanation:
Wyatt seems to travel very often, thus, it is best for him to carry a credit card in order to track his expenses. He'll be able to track his spending in different ways and he'll be able to receive hotel discounts and airline rewards due to his frequent travels.
Tracking one's credit card spending can be done online, so Wyatt can surely update himself about his spending every day if he wants to. This will give him an idea where most of his hard-earned money is going to without the need to wait for the credit card bill.
Answer:
the answer to this question is Uses a credit
Explanation:
A__________is a customer benefit package (CBP) feature that departs from the standard CBP and is normally location specific or firm specific.
a. bottleneck
b. peripheral product
c. core product
d. variant
Answer:
d. variant
Explanation:
A variant signifies a set of attributes that is specific to the firm or location in which the firm operates.
For example, a restaurant chain operating for years that decide to entertain its guest with a live band in its new has just added a new variant to its customer benefit package.
Increased tourism always brings increased sanitation.
True
False
Answer:
False 1000%
Explanation:
Tourists are dirty people
The statement - "Increased tourism always brings increased sanitation" is false.
What are the effects of tourism to a country?Tourism has a favorable influence on infrastructure in addition to providing employment and money. Road and rail upgrades, airport construction, and enhancements to services such as water supply and telecommunications are among them.
Tourism frequently overconsumes natural resources, especially in areas where resources are already limited. Tourism places significant strain on local land usage, potentially resulting in soil erosion, increased pollution, natural habitat loss, and greater pressure on endangered species.
Therefore, it can be concluded that sentence mentioned with regard to tourism is false.
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Following table shows employment data for an economy. Use the table to answer questions 98 and 99.
Population (Civilian, non-institutional) 520,000
Civilian Labor Force 364,000
Not In Labor Force 156,000
Employed 338,500
Now suppose 4,000 of the people looking for work get discouraged and give up their job searches. The unemployment rate becomes _____.
a. 6.35%
b. 5.97%
c. 5.91%
d. 2.92%
Answer:
c. 5.91%
Explanation:
The Number of unemployed = Civilian Labor force - No of employed
The Number of unemployed = 364,000 - 338,500
The Number of unemployed = 25,500
Unemployment rate = (No of unemployed/Labor force)*100
Unemployment rate = (25500/364000)*100
Unemployment rate = 7.01%
The New number of unemployed after 4,000 of the people looking for work get discouraged and give up their job searches = 25,500 - 4,000 = 21,500
So, the new unemployment rate = (21500/364000)*100
= 5.91%
Charlie is at the top of her company's organization chart. Which of the following is most likely to be her job title?
An example of this operating expense is the Internet.
Professional services
Payroll
Licenses
Phone and utilities
Answer:
Phone and utilities
Explanation:
Hope this helps
Answer: Phone and Utilities
Explanation: Have a good day :)
Why do employees who participate in planning change efforts tend to have more positive opinions about the change
Answer:
This question is incomplete, the options are missing. The options are the following:
a) They have the opportunity to reject the proposed change.
b) They will have the opportunity to know more than others about the change.
c) They will be able to convince customers the change was the right thing to do.
d) They will feel a sense of ownership of planned change and are more likely to be on board.
And the correct answer is the option D: They will feel a sense of ownership of planned change and are more likely to be on board.
Explanation:
To begin with, it will be more acceptable for an employee of a company or a member of a group to agree with a change if that person was involved in the planning of the change. That means that he will feel that he is part of the solution and therefore part of the team because his ideas were listened and maybe he contributed with something. That is why that members who participate in the planning of a change will always be more positive about the final outcome due to the fact that they were there during the process of deciding that outcome and that will make them feel integrity related to the work and to the team as well.
Bramble Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are $598000 and credit sales are $2620000. Management estimates that 5% is the sales percentage to use. What adjusting entry will Bramble Company make to record the bad debts expense?
Answer:
Bad debt expense Dr ($2,620,000 × 5%) $131,000
To Allowance for doubtful debts $131,000
(Being bad debt expense is recorded)
Explanation:
The adjusting journal entry is shown below:
Bad debt expense Dr ($2,620,000 × 5%) $131,000
To Allowance for doubtful debts $131,000
(Being bad debt expense is recorded)
Here bad debt expense is debited as it increased the expense and credited the allowance for doubtful debt as it decreased the assets
Also assets and expenses has normal debit balance
A company has fixed costs of $50,000 while manufacturing a product that has variable costs of $4 per unit and sells for $14 per unit. The break-even point is:_____
Answer:
the break even point in units is 5,000 units
Explanation:
The computation of the break even point in units is shown below:
= Fixed cost ÷ contribution margin per unit
= Fixed cost ÷ (Selling price per unit - variable cost per unit)
= $50,000 ÷ ($14 - $4)
= $50,000 ÷ $10
= 5,000 units
hence, the break even point in units is 5,000 units
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Assume that the risk-free rate is 6% and the market risk premium is 8%.
What is the expected return for the overall stock market? Round your answer to two decimal places.
___________ %
What is the required rate of return on a stock with a beta of 1.9? Round your answer to two decimal places.
___________ %
Answer:
r or expected rate of return - market = 0.14 or 14%
r or expected rate of return - stock = 0.2120 or 21.20%
Explanation:
Using the CAPM, we can calculate the required/expected rate of return on a stock. This is the minimum return required by the investors to invest in a stock based on its systematic risk, the market's risk premium and the risk free rate.
The formula for required rate of return under CAPM is,
r = rRF + Beta * rpM
Where,
rRF is the risk free rate rpM is the market risk premium
Under CAPM, the assumption follows that the beta of the market is always equal to 1.
So, expected return on the stock market will be,
r or expected rate of return - market = 0.06 + 1 * 0.08
r or expected rate of return - market = 0.14 or 14%
The beta of the stock is given. We calculate the required rate of return on the stock to be,
r or expected rate of return - stock = 0.06 + 1.9 * 0.08
r or expected rate of return - stock = 0.2120 or 21.20%
Assume that Corn Co. sold 7,300 units of Product A and 2,700 units of Product B during the past year. The unit contribution margins for Products A and B are $34 and $64, respectively. Corn has fixed costs of $343,000. The break-even point in units is
Answer:
8,147 units
Explanation:
The computation of the break even point in units is shown below:
Break even point in units is
= Fixed cost ÷ weighted contribution margin
where,
The Fixed cost is $343,000
And, weighted contribution margin is
= (7,300 units × $34 + 2,700 units × $64) ÷ (7,300 units + 2,700 units)
= ($248,200 + $172,800) ÷ (10,000 units)
= $42.1
Now the break even point in units is
= $343,000 ÷ $42.1
= 8,147 units
Groundz Coffee Shop uses 4 pounds of a specialty tea weekly; each pound costs $16. Carrying costs are $1 per pound per week because space is very scarce. It costs the firm $8 to prepare an order. Assume the basic EOQ model with no shortages applies. Assume 52 weeks per year, closed on Mondays. How many pounds should Groundz order at a time
Answer:
8 pounds
Explanation:
The computation of economic order quantity is
EOQ = √ 2 × Annual demand × Ordering cost / Carrying cost
Where;
Annual demand = 52 weeks × 4 pounds = 208 pounds
Ordering cost = $8
Carrying cost = $1 per pound per week × 52 = $52
EOQ = √ 2 × 208 × $8 / $52
EOQ = 8 pounds
Therefore, Grounds should order 8 pounds at a time.
A 37-year-old client experienced a perinatal loss 3 days ago. Which client characteristic would be communicated to the health care provider?
Answer:
Denial of the death
Explanation:
A loss of a Child to a mother is not usually acceptable at first to the mother. A woman at 37 who is advance has slimmer chance of getting pregnant and the woman at 37, having a pregnancy and lossing the baby is not easy to deal with. Parental loss and bereavement is really had for a 37 year old mother who at first may not accept the death of the child but proper care will bring the mother back to full consciousness.
2+2= fishwitharms.......................................................
Answer:
yes
Explanation:
why is digital presence is important
Give 3 reasons
I will give brainliest answer
Answer:
1.)A “digital presence” simply refers to how your business appears online; it's what people find when they search for your business or company on the internet. Digital presence includes content that you control, like your website and social media profiles, but also content that you don't control, such as online reviews.
2.)Job Security:This may seem like it should go without saying, but keeping a professional online presence is very important to keep your job! Your employers need to know that you are not going to hurt the brand and image of the company. ... Then keeping your online presence professional is key.
3.)The Importance of Having an Online Presence is Crucial Now More Than Ever. During this pandemic, it is critical businesses must be online. Having an online presence can help you build an audience, connect with your customers, and keep them updated on your day to day activities, as well as hours of operation.
What were true about all the states of natures in Decision making under ignorance (hint: how likely was any one of them to happen
Answer: They would be treated equally
Explanation:
States of natures in decision making under ignorance would be treated equally, and as such they would be treated equally.
The company expects this year's sales to increase by 25%. The selling price is $13 per unit. Prepare a Sales Budget for the
Answer:
The full question is "Royal Company is preparing budgets for the second quarter ending June 30. Last year's sales for the corresponding period were: March 15,000 units April 18,000 units May 28,000 units June 26,000 units July 19,000 units August 12,000 unit. The company expects this year's sales to increase by 25%. The selling price is $13 per unit. Prepare a Sales Budget for Royal Company."
Sales Budget
Month Budgeted Sales Selling Price Total budgeted sales
March 15,000+25% = 18750 $13 $243,750
April 18,000 +25% = 22500 $13 $292,500
May 28,000 +25% = 35000 $13 $455,000
June 26,000 +25% = 32500 $13 $422,500
July 19,000 +25% = 23750 $13 $308,750
Total Budgeted sales for the 2nd Quarter $1,722,500
August 12,000 +25% = 15000 $13 $195,000
calculater D2 in descrete distribution
Answer:
For a given subgroup size, say n=2, notice that the value of d2 changes as the number of subgroups, k, increases. As an example, notice that d2=1.150 for n=2 and k=15. When k is infinite, the value of d2=1.128. Notice the difference in the value of d2 is small.
Explanation:
what has 4 eyes but can't see
the right answer gets brainlist
Answer:
Biscuiiiits
Explanation:
They have four eyes but can't see, I'm so smart ;)
ATech has fixed costs of $7 million and profits of $4 million. Its competitor, ZTech, is roughly the same size and this year earned the same profits, $4 million. But it operates with higher fixed costs of $8 million and lower variable costs. a. What is the degree of operating leverage (DOL) for each company
Answer:
ATech 2.75
ZTech 3
Explanation:
Degree of operating leverage is denoted as ;
DOL = 1 + Fixed cost/Profit
According to the information above, profit for both companies is $4,000,000 whereas the fixed costs differ by $1,000,000
•ATech degree of operating leverage
= 1 + (7,000,000/4,000,000)
= 2.75
ZTech degree of operating leverage
= 1 + (8,000,000/4,000,000)
= 3
The above means that ATech would reach its break even before ZTech because the ratio of fixed cost to variable cost is lower for ATech compared to ZTech.
In respect to a balance sheet, a stock split will: Multiple Choice not affect the total value of any of the equity accounts. increase the value of the capital in excess of par value account. decrease the total book value of owners' equity. increase the total value of the common stock account. decrease the value of the retained earnings account.
Answer:
A. not affect the total value of any of the equity accounts.
Explanation:
A balance sheet can be defined as a financial statement of an organization which is typically used to record financial informations liabilities, capital, shareholder's equity, assets, debts at a specific period of time.
In respect to a balance sheet, a stock split will not affect the total value of any of the equity accounts.
A stock split can be defined as a process in which a company divides its existing shares of the stock it owns into multiple new shares to its shareholders in proportion to the amount of their holdings. Thus, a stock split will not affect the total value of any of the equity accounts with respect to a balance sheet.
Kevin bought 210 shares of Intel stock on January 1, 2019, for $54 per share, with a brokerage fee of $110. Then, Kevin sells all 210 shares for $77 per share on December 12, 2019. The brokerage fee on the sale was $160. What is the amount of the gain/loss Kevin must report on his 2019 tax return?
Answer:
$4,560
Explanation:
With regards to the above information, we need to calculate first the amount realized on the sales of the shares.
Amount realised = [Shares purchased × Price per unit of shares sold] - Brokerage fee on the sale of the shares
= [210 × $77] - $160
= $16,010
We also need to calculate the adjusted basis.
Adjusted basis = [Shares purchased × Price per unit of shares purchased] + brokerage fee on the shares purchased.
= [210 × $54] + $110
= $11,450
Gain = Amount realized - Adjusted basis
Gain = $16,010 - $11,450
Gain = $4,560
Therefore, the amount of gain Kevin must report on his 2019 tax report is $4,560
Suppose US$1 = €0.7809 in New York and US$1 = €0.7793 in Paris. How can foreign exchange traders profit from these exchange rates? What actions can they take that may result in the same dollar/euro exchange rate in both New York and Paris? Please limit your response to one or two reasonably-sized paragraphs.
Answer:
If a Dollar is worth $ 0.7809 Euros in New York, and $ 0.7793 Euros in Paris, the way in which foreign exchange traders could obtain an economic profit through this difference would be by buying Euros in Paris, and selling them again in New York. Thus, they would obtain $ 0.016 of profit for each Euro traded in the market, with which, for example, if $ 1,000,000 of Euros were traded, a total profit of $ 16,000 would be obtained. In turn, trading the same amount in both Paris and New York, traders would not make any profit, equating both exchange rates.
