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Verdich [7]
1 year ago
12

A management accountant who avoids conflicts of interest meets the ethical standard of:

Business
1 answer:
Lilit [14]1 year ago
5 0

A management accountant who avoids conflicts of interest meets the ethical standard of: Integrity.

<h3>What is ethical standard of integrity?</h3>

Ethical standard of integrity is when  is truthful and honest and therefore can be defined  as the way in which a person or an individual  act or behave in way that is inline with the set ethical standard.

Based on the given scenario the accountant  act in accordance with ethical standard of integrity which is why he avoided the conflicts of interest.

Therefore a management accountant who avoids conflicts of interest meets the ethical standard of: Integrity.

Learn more about Ethical standard of integrity here:

brainly.com/question/13383200

#SPJ12

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Williams company computed its cost per equivalent unit for direct materials to be $2.60 and its cost per equivalent unit for con
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(2.60X250,000)+(3.75X250,000)=1,587,500

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3 years ago
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Use the following information to prepare a multistep income statement and a classified balance sheet for Eller Equipment Co. for
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Answer:

                                 Eller Equipment Co.

                                  Income statement

Particular                                  Amount($)  Amount ($)

Sales revenue                                                940,000

Less: Cost of good sold                                 <u>(595,000)</u>

Gross margin                                                   345,000

<u>Operating expenses</u>

Salaries expenses                         122,000  

Operating expenses                     65,000  

Warranty expenses                        9,200

Un-collectible account expenses  45,000  

Depreciation expenses                 <u>3,000</u>

Total operating expenses                                <u>(244,200)</u>

Operating income                                              100,800

<u>Non-operating expenses</u>

Interest revenue                            6,200  

Interest expenses                        (36,000)

Gain on sale of equipment            19,000  

Total non-operating items                                   <u>(10,800)</u>

Net Income                                                          <u>$90,000</u>

<u />

                                   Balance Sheet

Assets                                          Amount$

<u>Current Assets</u>                                    

Cash                                                            41,000  

Accounts receivable                  108,000

Less: Allowance for doubtful    (19,000)  89,000

accounts

Merchandise inventory                             101,000  

Interest receivable                                     3600

Prepaid rent                                                38,000  

Supplies                                                      6,500  

Notes receivable                                        <u>32,500</u>

Total current assets                                                           311,600

Property Plant and Equipment    

Equipment                                    243,000  

Less: Accumulated depreciation <u>(66,000)</u>   177,000  

Land                                                                 <u>95,000</u>

Total property plant and equipment                                 <u>272,000</u>

Total Assets                                                                        <u>583,600</u>

Liabilities and Stockholder Equity

<u>Current liabilities</u>

Account payable                     55,000  

Unearned revenue                  47,000  

Warranties payable                  6,500  

Interest payable                        6,000  

Salaries payable                       <u>68,000 </u>

Total current liabilities                                                  182,500

<u>Long-term liabilities</u>  

Notes payable                     160,000

Total long-term liabilities                                               160,000

<u>Stockholders equity</u>

Common stock                            110,000  

Retained earning                         131,100

Total stockholders equity                                              <u>241,100</u>

Total liabilities and stockholders equity                    <u>$583,600</u>

<u>Workings</u>

Retained earning = Beginning retained earning + Net income - Dividend  

= 61,100 + 90,000 - 20,000

= 131,100

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3 years ago
A​ firm's operating cash flow​ (OCF) is defined as​ ________. A. gross profit minus operating expenses B. EBIT times one minus t
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Answer:

B. EBIT times one minus the tax rate plus depreciation

Explanation:

The formula to calculate the operating cash flow is given below:

Operating cash flow = EBIT + Depreciation expenses - Income tax expense

The EBIT stands for earning before interest and taxes

And, EBIT - income tax expense = Earning after taxes (EAT)

The operating cash flow is the amount which is left after paying all the expenses related to cash

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3 years ago
As the product manager for Whirlpools line of washing machines you are in charge of pricing new products. Your product team has
Alex17521 [72]

Answer:

The management should adopt skimming pricing strategy.

Explanation:

For the fact that this is a new technology and very difficult to be copied, the management should adopt skimming pricing strategy. This will allow them to charge high prices and make money in the market before their competitors starts making the same kind of washing machine. This product has benefits for the consumers as well as it consumes less water to clean the clothes so there is high probability of this machine is accepted even if the prices are exorbitantly higher and from this, its going to be demanded by many costomers.

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3 years ago
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Simon graduated from Lessard University last year. He financed his education by working part-time and borrowing $16,000. During
elena55 [62]

Answer:

a.

$1,400

b.

$280

Explanation:

According to Internal Revenue code the interest expense can only be deductible as adjusted gross income deduction, if the qualified education loan is used only for study credit, higher educational expenses like enrollment in the course, cost of books and accommodation cost.

a.

The maximum allowable interest deduction is $2,500.

Amount of Interest paid on the educational loan $1,400

Allowable deduction is Lesser of

  • maximum allowable interest deduction of $2,500.
  • Interest Payment on educational loan of $1,400.

b.

Adjusted Gross Income $77,000

Formula

Educational Interest rate = (AGI - $65,000) / $15,000

Placing values in the formula

Educational Interest rate = ($77,000 - $65,000) / $15,000

Educational Interest rate = 1.13 = 0.8%

Allowable interest deduction = [ (lesser of interest deduction or interest payment on the educational loan) x ( 1 - Educational interest rate)

Allowable interest deduction = $1,400 x ( 1 - 0.8 ) = $280

5 0
3 years ago
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