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2 years ago

Using the trueblood criterion what is the ultimate goal of accounting?

1 answer:

8 0

The ultimate goal of accounting according to trueblood criterion is to predict future cash flows to the investor or creditor

<h3>What is a trueblood criterion?</h3>

In accounting, its means the reporting on the past & present firm information that could help us predict future cash flow to firm.

Hence, by virtue of trueblood criterion, the ultimate goal of accounting is to predict future cash flows to the investor or creditor.

Therefore, the Option C is correct

Missing options "A) Predict future cash flows to the firm

B) Predict income to the investor or creditor

C) Predict future cash flows to the investor or creditor

D) Predict income to the firm"

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_____________ is the act of obtaining a desired object from someone by offering something in return.

Vaselesa [24]

Exchange

<span>Exchange is simply the act of the of giving and receiving between two individuals or two groups. A trade is a typical example of an exchange. For instance, if a farmer gives a fixed number of eggs to another farmer for a fixed quantity of cow’s milk, this is an exchange. Similarly, if a house guest offers to cook and clean in return for free accommodation, this is an exchange. </span>

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3 years ago

The following information applies to the questions displayed below.] McAllister, Inc. employs a normal costing system. The follo

alexgriva [62]

Answer and Explanation:

The computation is shown below:

Given that

Total manufacturing costs = $1,310,000

Cost of goods manufactured = $1,275,500

Applied manufacturing O.H = 30% of manufacturing costs

= 0.3 of 1,310,000

= $393,000

(1)

The direct labor cost is

80% of direct labor cost = Applied overhead

So direct labor cost = $393,000 ÷ 80%

= $491,250

(2) The total cost of direct material is

As we know that

Total manufacturing costs = Direct materials + Direct labor + Applied Overhead

So,

Direct materials = Total manufacturing costs - Direct labor - Applied overhead

= $1,310,000 - $491,250 - $393,000

= $425,750

(3)

The Ending work in process inventory is

As we know that

Cost of goods manufactured = Beginning work in process + Total manufacturing costs - Ending work in process

Le us s assume X to be ending work in process

Beginning work in process = X × 75% = 0.75X

Now

$1,275,500 = 0.75X + $1,310,000 - X

X = $138,000

6 0

3 years ago

________ is what is left after a firm pays its variable costs and fixed costs

jek_recluse [69]

<em>Profit</em><em> </em>is what is left after a firm plays its variable costs and fixed costs.

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3 years ago

Rhonda is interested in putting money toward a timeshare estate, which would allow her to use a condominium for two weeks each y

MakcuM [25]

Rhonda is interested in putting money toward a timeshare estate, which would allow her to use a condominium for two weeks each year. Timeshare estates <u>can be sold or passed down to heirs</u>.

A timeshare is a shared ownership version of holiday actual property wherein more than one purchaser very own allotments of utilization, usually in single-week increments, in equal assets. The timeshare model may be carried out to many specific types of residences, which include holiday accommodations, condominiums, apartments, and campgrounds.

Basically, timeshare inheritance is bundled in with other property assets an heir stands to get hold of. Some timeshare contracts have a perpetuity clause, which basically means the timeshare identify is owned forever and is blanketed within the unique owner's estate (and consequently surpassed directly to their inheritors).

There are two fundamental sorts of timeshares: (1) the proprietor of the unit truly owns a piece of the actual property and (2) the owner of the unit has rent or the right to apply the unit for the required time. If you own a unit of a condominium for every week, then your very own actual estate.

Learn more about Timeshare estates here brainly.com/question/25658352

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6 0

2 years ago

Coachlight inc. has a periodic inventory system. the company purchased 200 units of inventory at $9 per unit and 300 units at $1

vodka [1.7K]

The weighted average unit cost for these purchases of inventory is 9.60. We will calculate it by multiplying the unit to per units and divide it to another. 200 * 9 = 1800, 300 * 10 = 3000
1800 divide by 3000 = .60.60 plus the original price per unit which is 9 = 9.60
9.60 is the answer in this question.

4 0

3 years ago