Answer:
Date Account Titles and Explanation Debit Credit
2-Jan Purchase $18,200
Accounts payable $18,200
5-Jan Freight In $190
Cash $190
6-Jan Accounts payable $2,750
Purchased return and allowance $2,750
13-Jan Account receivable $37,300
Sales $37,300
Cost of goods sold $22,400
Merchandise Inventory $22,400
15-Jan Delivery expenses $215
Cash $215
17-Jan Account payable $15,450
Purchase discount $309
Cash $15,141
23-Jan Cash $36,927
Sales discount $373
Account receivables $37,300
The amount of cash received = $37,300 - {$37,300*1%} = 36,927
The amount of sale discount = $37,300 - $ 36,927 = $373
One of the Justices on the Supreme Court, stated that in this decision, the Supreme Court gave up power to gain power. What do you think this means?
Answer:
the judicial power shall be vested in one suprene court and in such lower courts as may be established by law.
For 2014, Taxpayer (TP) wants to recognize a deduction. The deduction involves a statute that has not changed since enacted in 1920. TP is relying on a case called JONES, which is a case decided by the United States Tax Court in 1965 which held in favor of the taxpayer. The JONES case was decided by a United States Tax Court that lies in the 5th Circuit Court of Appeals. At the time the JONES case was decided, its holding was contrary to precedent set by the 5th Circuit Court of Appeals. Which of the following is correct:a. None of the other choices are correct.b. The Golsen rule is inapplicable here and is of no concern for TP.c. The Golsen rule applies here and weakens the legal justification for the deduction.d. The Golsen rule applies here and strengthens the legal justification for the deduction.
Answer:
Option c. is correct
Explanation:
Under the Golsen rule, the Tax Court must follows the Court of Appeals such that the court of appeals has direct jurisdiction over the taxpayer. The Court is said to reach a decision without calculating the tax when a Tax Court decision is said to be entered under Rule 155.
In this question, The Golsen rule applies here and weakens the legal justification for the deduction
Prior to safely smoking meat for food preservation, what must an operation have?
An operation must have a variance from regulatory authorities prior to smoking meat safely for food preservation.
A variance is simply an official permit that allows entities to do something that is ordinarily forbidden by regulation. Food safety methods that often require a variance include the smoking of food as a method of preservation but not as a flavor enhancer; and more often than not, follows a strict HACCP (hazard analysis critical control point).
Therefore, if an operation (business or organization) intends to smoke food as a preservative method during food processing, they need to seek and gain variance from the local regulatory authority.
For more on food preservation methods see: https://brainly.com/question/4486827?referrer=searchResults
Drag each label to the correct location on the table. Match the companies to their business categories.
Answer:
Trading- A wholesaler a department store
service-an auditing firm, a commercial bank, logistics company
Explanation:
Trading businesses wholesalers, department stores, service businesses- auditing firms, commercial banks, and logistics companies.
What are trading businesses?Trading companies are businesses working with different kinds of products which are sold for consumer, business, or government purposes. Trading companies buy a specialized range of products, maintain a stock or a shop, and deliver products to customers.
Different kinds of practical conditions make for many kinds of business. Usually, two kinds of businesses are defined in trading. Importers or wholesalers maintain a stock and deliver products to shops or large end customers. They work in a large geographical area, while their customers, the shops, work in smaller areas and often in just a small neighbourhood. Today "trading company" mainly refers to global B2B traders, highly specialized in one goods category and with a strong logistic organization.
Changes in practical conditions such as faster distribution, computing and modern marketing have led to changes in their business models.
Learn more about trading, here:
https://brainly.com/question/8322028
#SPJ2
The first budget customarily prepared as part of an entity's master budget is the _____ budget. a.cash b.production c.sales d.direct materials purchases
Answer:
c. sales
Explanation:
The master budget is a document that contains the aggregation of all lower-level, interrelated financial budgets and operating budgets produced by an organization and it comprises of a cash forecast, budgeted financial statements, profit and loss account and balance sheet and a financing plan.
The starting point in preparing a master budget is the preparation of the sales budget.
Hence, the first budget customarily prepared as part of an entity's master budget is the sales budget.
Does anybody know if CPA is profitable. I have heard that it is an easy way to make a side income whilst at college. Even a full time income for some ?
Explanation:
not the best option in my opinion
The following selected accounts from the Bramble Corp.’s general ledger are presented below for the year ended December 31, 2022:
Advertising expense $54,000 Interest revenue $32,000
Common stock 249,000 Inventory 66,000
Cost of goods sold 1,084,000 Rent revenue 24,000
Depreciation expense 124,000 Retained earnings 534,000
Dividends 149,000 Salaries and wages expense 674,000
Freight-out 24,000 Sales discounts 8,600
Income tax expense 69,000 Sales returns and allowances 43,000
Insurance expense 15,000 Sales revenue 2,399,000
Interest expense 69,000
Required:
Prepare a multiple-step income statement BRAMBLE CORP.
Answer:
Bramble Corp.
Multiple-step Income Statement
$
Sales revenue 2,399,000
Sales returns and allowances (43,000)
Net Sales Revenue 2,356,000
Less Cost of goods sold (1,084,000)
Gross Profit 1,272,000
Less Operating Expenses :
Selling and Distribution Expenses
Advertising expense 54,000
Freight-out 24,000
Sales discounts 8,600 (86,600)
Administrative Expenses
Depreciation expense 124,000
Salaries and wages expense 674,000
Insurance expense 15,000 (813,000)
Net Operating Income 372,400
Less Non- Operating Expenses :
Interest revenue (32,000)
Rent revenue (24,000)
Income tax expense 69,000
Interest expense 69,000 (82,000)
Net Income/(Loss) 290,400
Explanation:
The multiple-step income statement has been prepared above.
Following is information about consulting jobs for a company that is increasing in sales, but has not yet become profitable. The owner keeps financial records on yellow sticky notes stuck to the wall behind his desk. He has asked you to help him set up a costing system so that he can better understand his costs. The owner said that job 140 was completed, job 141 was started and completed, and job 142 was started this month. Professional labour hours for contracts in process consist of job 140 with 129 hours, job 141 with 258 hours, and job 142 with 137 hours. Professional labour was paid $23,580 for the month, and the professional employees are all paid the same rate per hour. Overhead is allocated using an estimated rate based on professional labour hours. The total cost for job 141 is $32,766. Actual overhead cost for the month was $53,448. What is labour paid per hour? Labour per hour. What is the estimated rate per labour hour used to allocate overhead? per hour. Overhead rate What are the total costs (before adjusting for overapplied or underapplied overhead) for Jobs 141, 142, and 143? Total cost Job 140 Job 141 Job 142 What are the amounts in cost of goods sold and work-in-process at the end of the month? Cost of goods sold Work-in-process What amount of overhead was overapplied or underapplied this month? Overhead If this month is typical, what is a reasonable overhead rate? Reasonable overhead rate per hour
Answer:
Part 1
$82 per professional labor hour
Part 2
Job 141 = $16,383 ,Job 142 = $32,766 , and Job 143 = $17,399
Part 3
Cost of Goods Sold = $49,149
Ending Work In Process Inventory = $17,399
Part 4
Overheads Under- applied = $10,480
Part 5
$102.00 per professional labor hour
Explanation:
Labor Cost per hour = Total Cost ÷ Total hours
= $23,580 ÷ ( 129 + 258 + 137)
= $45.00 per hour
We know that,
Overhead allocation rate = Estimated Overhead Costs ÷ Estimated Professional labor hours
But using Job 141 we can solve as,
Total for Job 141 = $32,766
Less Labor Cost (258 hours × $45.00) = $11,610
Overheads allocated to Job 141 = $21,156
Then,
Overhead allocation rate = $21,156 ÷ 258
= $82 per professional labor hour
Total Costs
Job 140 Job 141 Job 142
Direct Labor $5,805 $11,610 $6,165
Overheads $10,578 $21,156 $11,234
Total Cost $16,383 $32,766 $17,399
Cost of Goods Sold
Note : Only Finished Jobs are accounted in this figure
Total Cost of Job 140 $16,383
Total Cost of Job 141 $32,766
Cost of Goods Sold $49,149
Work In Process Inventory
Note : Only Incomplete Jobs are accounted in this figure
Total Cost of Job 142 $17,399
Application of Overheads
Actual Overheads (given) = $53,448
Applied Overheads ($82 × ( 129 + 258 + 137)) = $42,968
Actual Overheads > Applied Overheads therefore we have an Under-applied situation.
Overheads Under- applied = $10,480 ($53,448 - $42,968)
Reasonable Overhead Rate.
Rate that does not produce variances is reasonable !
Reasonable Overhead Rate. = Actual Overheads ÷ Total Professional Hours
= $53,448 ÷ 524 hours
= $102.00 per professional labor hour
Two-Stage ABC for Manufacturing
Detroit Foundry, a large manufacturer of heavy equipment components, has determined the following activity cost pools and cost driver levels for the year:
Activity Cost Pool Activity Cost Activity Cost Driver
Machine setup $720,000 12,000 setup hours
Material handling 120,000 3,000 material moves
Machine operation 680,000 10,000 machine hours
The following data are for the production of single batches of two products, C23 Cams and U2 Shafts during the month of August:
C23 Cams U2 Shafts
Units produced 500 300
Machine hours 4 5
Direct labor hours 200 400
Direct labor cost $5,000 $10,000
Direct materials cost $20,000 $15,000
Tons of materials 13 8
Setup hours 3 7
Determine the unit costs of C23 Cams and U2 Shafts using ABC.
Product Costs
C23 Cams U2 Shafts
Direct materials 30,000 $20,000
Direct labor 5,000 10,000
Manufacturing overhead
Machine setups 150 300
Material handling 780 480
Machine operation 100,000 X 75,000 X
Total job costs $135,930 X $105,830 X
Units produced 500 300
Cost per unit produced 271.86 352.77
Please find question attached
Answer and Explanation:
Find answer and explanation attached
The operations of Winston Corporation are divided into the Blink Division and the Blur Division. Projections for the next year are as follows:
Blink Division Blur Division Total
Sales $280,000 $168,000 $448,000
Variable costs 98,000 77,000 175,000
Contribution margin $182,000 $91,000 $273,000
Direct fixed costs 84,000 70,000 154,000
Segment margin $98,000 $21,000 $119,000
Allocated common costs 42,000 31,500 73,500
Operating income (loss) $56,000 ($10,500) $45,500
Operating income for Winston Corporation as a whole if the Blur Division were dropped would be:
a. $66,500.
b. $56,000.
c. $45,500.
d, $24,500.
Answer:
d, $24,500
Explanation:
Computation for the Operating income for Winston Corporation as a whole if the Blur Division were dropped
Operating income (loss) for Blink Division $56,000
Less Allocated common costs Blur Division (31,500)
Operating income for Winston Corporation $24,500
Therefore the Operating income for Winston Corporation as a whole if the Blur Division were dropped would be $24,500
Fechter Corporation had the following stockholders’ equity accounts on January 1, 2020: Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Par—Common Stock $200,000, and Retained Earnings $100,000. In 2020, the company had the following treasury stock transactions.
Mar. 1 Purchased 5,000 shares at $8 per share.
June 1 Sold 1,000 shares at $12 per share.
Sept. 1 Sold 2,000 shares at $10 per share.
Dec. 1 Sold 1,000 shares at $7 per share.
Fechter Corporation uses the cost method of accounting for treasury stock. In 2020, the company reported net income of $30,000.
Required:
Journalize the treasury 2020, for net income.
Answer:
Entries and their narrations are posted below
Explanation:
We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.
March 1 (Purchased 5,000 shares at $8 per share)
Dr treasury stock $40,000
(5000 x $8)
Cr Cash $40,000
June 1 (Sold 1,000 shares at $12 per share)
Dr Cash $12,000
(1000 x $12)
Cr Treasury stock $8,000
(1000 x $8)
Cr paid-in capital from treasury stock $4,000
Sept. 1 (Sold 2,000 shares at $10 per share)
Dr Cash $20,000
(2000 x $10)
Cr Treasury stock $16,000
(2000 x $8)
Cr paid-in capital from treasury stock $4,000
Dec. 1 Sold 1,000 shares at $7 per share.
Dr Cash $7,000
(1000 x $7)
Dr paid-in capital from treasury stock $1,000
Cr Treasury stock $8,000
(1000 x $8)
You are required to pay quarterly estimates of the tax liability for your company. If your first quarter payment for taxes was $6,500, how much was the total tax bill for the year if they were equal quarterly payments?
a) $6,500
b) $13,000
c) $19,500
d) $26,000
Answer:
D
Explanation:
Simple. It looks hard but it is simple.
Just take 6.5k, and multiply it by 4 (quarterly), and you get 26K.
Any questions?
The total tax liability for the year is $26,000. Thus, the correct answer is option d.
What is a tax liability?Tax liability is the payment owed by an individual, business, or other entity to a federal, state, or local tax authority.
The tax liability for the year is calculated as-
The first quarter payment is $6,500
The total quarter in a year is 4.
Assuming equal quarterly payments, the tax bill for the year :
$6,500× 4 = $26,000
Therefore, the total tax bill for the year if they were equal quarterly payments is $26,000.
To learn more about total tax liability, click here:
https://brainly.com/question/9796424
#SPJ6
f the present value of the annuity is $45,000, what should be the size of each payment from the annuity
Answer:
"$571.92" is the correct solution.
Explanation:
The given problem is incomplete. Please find attachment of the complete question.
The given values are:
Payments will be made for
= [tex]8\frac{1}{4} \ years[/tex]
At the rate of:
= [tex]5.75 \ percent[/tex]
= [tex]0.0575 \ per \ year[/tex]
The present value of annuity is:
= [tex]45000[/tex]
Let the size of each payment will be "d".
Now,
⇒ [tex]45000=\frac{1-(1+\frac{0.0575}{12})^{-99}}{\frac{0.0575}{12}}\times d[/tex]
⇒ [tex]d = 571.92[/tex] ($)
Twelve samples, each containing five parts, were taken from a process that produces steel rods at Emmanual Kodzi's factory. The length of each rod in the samples was determined. The results were tabulated and sample means and ranges were computed. The results were:
Sample Sample Mean (in.) Range (in.) Sample Sample Mean (in.) Range (in.)
1 11.204 0.033 7 11.201 0.041
2 11.204 0.041 8 11.203 0.034
3 11.189 0.034 9 11.197 0.027
4 11.208 0.051 10 11.201 0.029
5 11.195 0.031 11 11.201 0.039
6 11.197 0.036 12 11.206 0.047
For the given data, the x = nothing inches (round your response to four decimal places).
Based on the sampling done, the control limits for 3-sigma x chart are:
Upper Control Limit (UCLx) = nothing inches (round your response to four decimal places).
Lower Control Limit (LCLx) = nothing inches (round your response to four decimal places).
Based on the x-chart, is one or more samples beyond the control limits? ▼ Yes No .
For the given data, the R = nothing inches (round your response to four decimal places).
The control limits for the 3-sigma R-chart are:
Upper Control Limit (UCLR) = nothing inches (round your response to four decimal places).
Lower Control Limit (LCLR) = nothing inches (round your response to four decimal places).
Based on the R-chart, is one or more samples beyond the control limits? ▼ Yes No .
Full question attached
Answer and Explanation:
Answer and explanation attached
Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. One batch of logs produces 20,304 cubic yards of wood chips, 14,100 cubic yards of mulch, and 9,024 cubic yards of wood pulp. The joint production process costs a total of $32,000 per batch. After the split-off point, wood chips are immediately sold for $25 per cubic yard while wood pulp and mulch are processed further. The market value of the wood pulp and mulch at the split-off point is estimated to be $22 and $24 per cubic yard, respectively. The additional production process of the wood pulp costs $5 per cubic yard, after which it is sold for $30 per cubic yard. The additional production process of the mulch costs $4 per cubic yard, after which it is sold for $32 per cubic yard.
Allocate the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Wood chips $
Wood pulp
Mulch
Totals $
Answer:
Product Output Selling price per cubicyard net realizable value
Wood chips
20,304 cubic yards $25 507,600
Wood pulp
9,024 cubic yards $22 198,528
Mulch
14,100 cubic yards $24 338,400
Product Percentage of Net realizable value
Wood chips 48.60%
Wood pulp 19%
Mulch 32.40%
Product Allocation of Joint costs
Wood chips $15,552
Wood pulp $6,080
Mulch $10,368
Explanation:
Allocation of the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Product Output Selling price per cubic yard net realizable value
Wood chips
20,304 cubic yards $25 507,600
(20,304 x 25) = 507,600
Wood pulp
9,024 cubic yards $22 198,528
(9,024 x 22 )= 198,528
Mulch
14,100 cubic yards $24 338,400
(14,100 x 24 )= 338,400
Total $1,044,528
(507,600+198,528+338,400)
Product Percentage of Net realizable value
Wood chips 507,600/1,044,528= 48.60%
Wood pulp 198,528/1,044,528= 19%
Mulch 338,400/1,044,528= 32.40%
Total $1,044,528
Product Allocation of Joint costs
Wood chips 48.60% *32,000=$15,552
Wood pulp 19%*32,000=$6,080
Mulch 32.40% *32,000=$10,368
Total $32,000
On April 1st, Bob the Builder entered into a contract of one-month duration to build a barn for Nolan. Bob is guaranteed to receive a base fee of $5,000 for his services in addition to a bonus depending on when the project is completed. Nolan created incentives for Bob to finish the barn as soon as he can without jeopardizing the structural integrity of the barn. Nolan offered to pay an additional 30% of the base fee if the project finished 2 weeks early and 10% if the project finished a week early. The probability of finishing 2 weeks early is 30% and the probability of finishing a week early is 60%.What is the expected transaction price with variable consideration estimated as the expected value?a. $4,750b. $5,000c. $5,750d. $5,50
Answer: c. $5,750
Explanation:
Expected value will be the weighted average of the payoffs of the different scenarios.
= Base fee + Addition if finished 1 week early + Addition if finished 2 weeks early + No addition
= 5,000 + ( 5,000 * 10% * 60%) + ( 5,000 * 30% * 30%) + (5,000 * 0% * 10%)
= $5,750
On June 12, Music, Incorporated sells $4,000 of goods on account to a credit customer with credit terms of 1/10, n/30. If the customer pays on June 20, select the correct entry to record the receipt of the customer's payment:
Answer:
June 20
Cash $3,960 (debit)
Discount allowed $40 (debit)
Trade Receivable $4,000 (credit)
Explanation:
The sale journal is as follows :
June 12
Trade Receivable $4,000 (debit)
Sales Revenue $4,000 (credit)
The payment journal will be :
June 20
Cash $3,960 (debit)
Discount allowed $40 (debit)
Trade Receivable $4,000 (credit)
Note
That the customer was granted a discount period of 10 days and they managed to repay the amount owing in that period by June 20, so they are eligible for a cash discount of 1 %.
What is a balance sheet?
Answer:
"In financial accounting, a balance sheet is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity."
Explanation:
Sources: Wikipedia
Mason Corporation had $650,000 in invested assets, sales of $700,000, operating income amounting to $99,000, and a desired minimum return on investment of 15%. The investment turnover for Mason Corporation is
Answer:
1.08 times
Explanation:
Mason corporation has $650,000 in invested assets
Sales is $700,000
Operating income is $99,000
Minimum investment on return is 15 percent
Therefore the investment turnover for mason corporation can be calculated as follows
= net sales/debt
= 700,000/650,000
= 1.08 times
The Sheridan Inc., a manufacturer of low-sugar, low-sodium, low-cholesterol TV dinners, would like to increase its market share in the Sunbelt. In order to do so, Sheridan has decided to locate a new factory in the Panama City area. Sheridan will either buy or lease a site depending upon which is more advantageous. The site location committee has narrowed down the available sites to the following three very similar buildings that will meet their needs.
Building A: Purchase for a cash price of $612,100, useful life 26 years.
Building B: Lease for 26 years with annual lease payments of $71,490 being made at the beginning of the year.
Building C: Purchase for $655,200 cash. This building is larger than needed; however, the excess space can be sublet for 26 years at a net annual rental of $6,850. Rental payments will be received at the end of each year. The Sheridan Inc. has no aversion to being a landlord.
In which building would you recommend that The Sheridan Inc. locate, assuming a 11% cost of funds?
Answer:
Present value of Building A = $612,000
Present value of Building B = $71,490 + $71,490*Present value of Annuity for n=25,i=11% = $71,490 + $602,070.53 = $673,560.53
Present value of Building C = $655,200 - $6,850*Present value of Annuity for n=26,i=11% = $655,200 - $58,143.20 = $597,056.80
Net Present Value
Building A $612,000
Building B $673,560.53
Building C $597,056.80
Conclusion: The Sherdian Inc. should locate itself in Building C as it has least Net Present Value
On June 30, 20X1, a tornado damaged Jensen Corporation’s warehouse and factory, completely destroying the work-in-process inventory. Neither the raw materials nor finished goods inventories were damaged. A physical inventory taken after the tornado revealed the following valuations:
Raw materials $87,000
Work-in-process 0
Finished goods 151,000
$238,000
The inventory of January 1, 20X1, consisted of the following:
Raw materials $41,000
Work-in-process 128,000
Finished goods 173,000
$342,000
A review of the books and records disclosed that the gross profit margin historically approximated 28% of sales. The sales total for the first six months of 20X1 was $405,000. Raw material purchases totaled $150,000. Direct labor costs for this period were $112,000, and manufacturing overhead has historically been applied at 50% of direct labor.
Required:
Compute the value of the work-in-process inventory lost at June 30, 20X1.
Answer:
$130,400
Explanation:
Raw material transferred to WIP = Beginning balance + Purchase - Closing balance = $41,000 + $150,000 - $87,000 = $104,000
Cost of Goods manufactured = Closing balance + Cost of goods sold - Beginning balance
Cost of Goods manufactured = $151,000 + $405,000*70% - $173,000 = $151,000 + $291,600 - $173,000
Cost of Goods manufactured = $269,000
Ending Work in Process = Beginning balance + Direct material + Direct labor - Manufacturing overheads - Cost of goods manufactured
Ending Work in Process = $128,000 + $104,000 + $112,000 + $112,000*50% - $269,600
Ending Work in Process = $128,000 + $104,000 + $112,000 + $56,000 - $269,600
Ending balance of Work in Process = $130,400
A $2 million jumbo CD is paying a quoted 3.55 percent interest rate on 180-day maturity CDs. How much money will you have at maturity if you invest in the CD
Answer:
Maturity Value = $2,035,500
Explanation:
$2,000,000 are invested
Interest rate = 3.55 %
Time = 180 days
Maturity value = ?
Maturity Value = Amount invested * [1 +( interest * no of days to maturity/360)
Maturity Value = $2,000,000* [1 + (0.0355*180) /360)
Maturity Value = $2,000,000* [1 + (6.39/360)
Maturity Value = $2,000,000* [1 + 0.01775]
Maturity Value = $2,000,000 * 1.01775
Maturity Value = $2,035,500
Note: A Certificate of deposit is an interest bearing time deposit.
You purchase 15 shares of Initech stock at $25 per share. Later, you sell your shares when the price is $30 per share.
What is your dollar return? (Answer should be just a number. Do not include a dollar symbol.)
Answer:
dollar return would be 75 if i'm not mistaken
Explanation:
5 dollar profit per share. 5 times 15 is 75. profit would be 75
XYZ Company is union free. Because of increased costs and operational efficiency, it is in XYZ Company’s best interest to avoid unionization. While still in this non-unionized state, it is important for YYZ to do all EXCEPT which of the following?
Answer:
Make sure employees understand that anyone who attempts unionization will be discharged
Explanation:
Companies are not allowed to threaten employees who are interested in forming a union with discharge.
Which costs are variable costs?
A. Rent
B. Machinery
C. Raw material
D. Marketing
E. Monthly salary
Answer:
its b
Explanation:
Answer:
B. Machinery
Explanation:
The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations.
June 12, 2021 Provide services to customers on account for $33,200.
September 17, 2021 Receive $18,500 from customers on account.
December 31, 2021 Estimate that 45% of accounts receivable at the end of the year will not be received.
March 4, 2022 Provide services to customers on account for $48,200.
May 20, 2022 Receive $10,000 from customers for services provided in 2021.
July 2, 2022 Write off the remaining amounts owed from services provided in 2021.
October 19, 2022 Receive $38,500 from customers for services provided in 2022.
December 31, 2022 Estimate that 45% of accounts receivable at the end of the year will not be received.
Required:
Calculate net accounts receivable at the end of 2021 and 2022.
2021 2021
Total accounts receivable
Less: Allowance for uncollectible acounts
Net accounts receivable
Answer:
Net account receivable
2021 $8,085
2022 $5,335
Explanation:
Calculation for the net account receivable
2021 2022
Total account receivable 14,700 9,700
(33,200-18,500=14,700)
(48,200-38,500=9,700)
Less: Allowance for doubtful accounts (6,615) (4,365)
(45%*14,700=6,615)
(45%*9,700=4,365)
Net account receivable 8,085 5,335
(14,700-6,615=8,085)
(9,700-4,365=5,335)
Therefore Net account receivable will be :
2021 $8,085
2022 $5,335
Firms face competing pressures in the marketplace-how to achieve lower costs through proven approaches to production, while looking at how to maximize their effectiveness in local markets. A firm's choice of strategy must reflect these pressures, and the firm knows that the dynamics of competition may require changes in strategy. Pressures for local responsiveness mean that a firm may not be able to realize the full benefits from economies of scale, learning effects, and location economies. Customization of products brings benefits, but it also limits the firm's ability to realize significant scale economies and location economies. Companies generally choose from four main strategic postures: a global standardization strategy, a localization strategy, a transnational strategy, or an international strategy. The appropriateness of each strategy varies given the competitive realities and the firm's core competences.
Read the case below and answer the questions that follow.
Your firm has been a leader in several lines of fast-moving consumer goods. The firm has been following a localization strategy. Your products have been distributed in a number of foreign markets and regions, and they are distinct enough in local markets to respond to national tastes and preferences. Competition, however, has become more intense, with many competitors using lower cost structures to undercut your prices and still satisfy your customers.
The firm must decide what kind of strategy it needs to follow to meet the demands of the local markets as well as the increased competitive pressures on cost.
a. leverage skills and products associated with a firm's core competencies from one country to another.
b. monitor and adapt to changing customer tastes in a large number of foreign markets.
c. compete effectively in more than one international market.
Answer:
a. leverage skills and products associated with a firm's core competencies from one country to another.
Explanation:
Company A can still meet the demands of the local markets and the competitive pressures it is facing by utilizing its core competences and deploring its products internationally. A hybrid of localization and international strategies would be more appropriate. This hybrid approach will enable the company "to realize the full benefits from economies of scale and learning effects, without losing on location economies," as desired in the case study.
The defect rate for data entry of insurance claims at Sadegh Kazemi Insurance Co. has historically been about 1.50% This exercise contains only parts a, b, c, d, and e.
a. If you wish to use a sample size of 100, the 3-sigma control limits are: UCLD (enter your response as a number between 0 and 1, rounded to three decimal places).
b. what if the sample size used were 50, with 3 standard deviation?
c. what if the sample size used were 100, with 2 standard deviation?
d. what if the sample size used were 50, with 2 standard deviation?
e. what happens to standard deviation Ap when the sample size is larger?
f. explain why the lower control limits cannot be less then 0.
Answer and Explanation:
Answer and explanation attached
Bill works at Peterbuilt on the assembly line producing truck frames. Bill is exceptionally knowledgeable about the equipment needed to do his job and often makes recommendations to management on the specifications for and alternative suppliers of needed equipment. Given Bill’s position on the assembly line as an operator, he probably functions in the buying center at Peterbuilt as a(n):
Answer:
A User
An Initiator
An Influencer
Explanation:
Bill’s position on the assembly line as an operator, he probably functions as a user, influencer, initiator by putting machines parts together, ensure maintenance, helps in decision making and also influence the sales of machines parts, negotiate sales and other duties.
QUESTION 1
The prices for all furniture sold at American Furniture Warehouse end in $9.99, such as $599.99, $899.99, etc. American Furniture Warehouse uses
O a. odd-even pricing.
b.price lining
c. bundle pricing.
d. product-line pricing.
Oe. dynamic pricing.