Professionals in_______ and investment pathway help companies connect with investors

Accounting is referred to as the language of business because it is the method of communicating business information to decision

VARVARA [1.3K]

'Accounting is referred to as the language of business because it is the method of communicating business information to decision-makers.

This statement is True.

Accounting, also called bookkeeping, is the measurement, processing, and transmission of financial and non-financial information about economic entities such as businesses and enterprises.

Definition of Accounting is the process of systematically recording and maintaining financial accounts. Creating an income statement is an example of accounting. noun.

The process of systematically recording all company financial transactions. This includes analyzing, summarizing and reporting financial transactions to regulators, authorities and tax authorities. Accountants do the bookkeeping process for a company.

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3 0

2 years ago

A 13-year bond of a firm in severe financial distress has a coupon rate of 10% and sells for $930. The firm is currently renegot

adoni [48]

Answer:

Stated yield is 11.04%

expected yield is 5.78%

Explanation:

The expected yield to maturity can be computed using the rate formula in excel which is given below:

=rate(nper,pmt,-pv,fv)

nper is the number of coupon interest the bond would pay which is 13

pmt is the amount of coupon interest the bond pays which is $1000*10%=$100

pv is the current price of the bond which is $930

fv is the face value of $1000

=rate(13,100,-930,1000)=11.04%

However the expected yield has the coupon interest reduced to one -half as calculated below:

=rate(13,100*0.5,-930,1000)=5.78%

3 0

4 years ago

Inspiring and motivating people with a mission or purpose is a ______________ for developing an organization that can learn and

sergij07 [2.7K]

The correct answer is B. Necessary but not sufficient condition goal

Explanation:

A necessary condition for a goal refers to a condition or factor that is mandatory to achieve a goal. For example, to obtain a bachelor's degree a necessary condition is to complete a bachelor's program. Besides this, a condition is sufficient if no other conditions are required, this applies to the previous condition as the main requirement for a bachelor's degree is to complete all the courses or program.

In this context, inspiring and motivating people in the goal of making an organization that can learn and adapt is a necessary condition because organizations require cooperation and group work and this is achieved if people of the organization feel inspired and motivated. However, this is not the only condition, and therefore it is not sufficient as other factors such as a budget, a clear plan, etc. are needed.

8 0

4 years ago

Better Bottles, Inc., Uses a periodic inventory system and has the following:

STALIN [3.7K]

Answer and Explanation:

1. The computation of the ending inventory and the cost of goods sold using the periodic FIFO method is shown below;

FIFO Ending Inventory 

Description # of Units Cost per Unit Total Cost 

Jan. 20 Purchase 33 $30 $990

Jan. 15 Purchase 11 $22 $242

Total 44 $1,232

 FIFO Cost of goods sold 

Description # of Units Cost per Unit Total Cost 

Jan. 20 Purchase 20 $20 $400

Jan. 15 Purchase 16 $22 $352

Total 36 $752

2. The computation of the ending inventory and the cost of goods sold using the periodic LIFO method is shown below;

 FIFO Ending Inventory 

Description # of Units Cost per Unit Total Cost 

Jan. 20 Purchase 20 $20 $400

Jan. 15 Purchase 24 $22 $528

Total 44 $928

FIFO Cost of goods sold

Description # of Units Cost per Unit Total Cost

Jan. 20 Purchase 33 $30 $990

Jan. 15 Purchase 3 $22 $66

Total 44 $1,056

3. The computation of the cost per unit using the Periodic Weighted Average method is

= Cost of goods sold ÷ Number of units

= $1,984 ÷ 80

= $24.80 per unit

Weighted average Ending inventory

# of Units Cost per Unit Total Cost

44 $24.80 $1,091

Weighted average Cost of goods sold

# of Units Cost per Unit Total Cost

36 $24.80 $893

4. The computation of the completed cost of goods sold by applying the three methods is

Particulars FIFO LIFO Weighted average

Beginning Inventory $400 $400 $400

Add: Purchases $1,584 $1,584 $1,584

Goods Available for Sale $1,984 $1,984 $1,984

Less: Ending Inventory -$1,232 -$928 -$1,091

Cost of Goods Sold $752 $1,056 $893

6 0

3 years ago

On September 1, the board of directors of Colorado Outfitters, Inc., declares a stock dividend on its 22,000, $13 par, common sh

Tpy6a [65]

Answer:

(I)

retained earnings 92,400 debit

common stock 28,600 credit

additional paid-in 63,800 credit

(II)

retained earnings 924,000 debit

common stock 286,000 credit

additional paid-in 638,000 credit

(III) no entry required

Explanation:

22,000 x 10% = 2,200 new shares

market price:

2,200 X $42 = 92,400

book value

2,200 x $13 = 28,600

additional paid-in

63,800

100% sotkc dividends:

22,000 x 100% = 22,000 new shares

market price:

22,000 X $42 = 924,000

book value

22,000 x $13 = 286,000

additional paid-in

638,000

the stock split will not change the accounting as the total value fo the equity remains the same.

7 0

4 years ago