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2 years ago

Which of the basic organizational functions records all financial activity from billing customers to paying employees?

1 answer:

5 0

Which of the basic organizational functions records all financial activity from billing customers to paying employees: Accounting

Financial usually refers to money matters or transactions of some size or importance. Cash, stocks, bonds, mutual funds, and bank deposits are all examples of financial assets.

The Financial field includes three main subcategories:

personal finance
corporate finance
public (government) finance.

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Mark Johnson invests a fixed percentage of his salary at the end of each year. This year he invested $1500 For the next 5 years,

meriva

Answer:

Mark Johnson's investment would worth $ 13,223.95 at 8%,$ 12,338.93

at 5% and $ 11,784.66 at 3%

Explanation:

In calculating the worth of the investments at different rates of interest I adopted the future value approach as contained in the attached.

Download xlsx

5 0

3 years ago

The authoritative body designated to promulgate standards concerning an accountantâ€™s association with unaudited financial stat

antoniya [11.8K]

The authoritative body designated to promulgate standards concerning an accountant's association with unaudited financial statements of an entity that is not required to file financial statements with an agency regulating the issuance of the entity's securities is the: <u>accounting and review services committee</u>.

<u>Explanation</u>:

The Accounting and Review Services Committee is a committee that engages in reviewing or compiling the unaudited financial statement.

An unaudited financial statement is a document that is not submitted by an individual for verification and review process. The financial statement is said to be unaudited until they are reviewed and approved by a certified external auditor.

The accounting and review services committee are responsible for promulgating standards regarding accountant association. The auditor helps in reviewing the financial statement of the individual.

6 0

4 years ago

Green Manufacturing Company produces a product that has a variable cost of $30 per unit. Fixed costs amount to $240,000. The sel

Lelu [443]

Answer:

The contribution margin per unit is $6.

Explanation:

Contribution margin is calculated by deducting all variable costs from the price of the product. It is used to calculate the products direct contribution in the earnings.

Price of product = $36 per unit

Cost of product = $30 per unit

Contribution margin = Price - cost

Contribution margin = $36 - $30

Contribution margin = $6 per unit

6 0

3 years ago

Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.88 mill

Anon25 [30]

Answer:

Years Cash Flow

Year 0 -$ 3,240,000

Year 1 $ 1,192,050

Year 2 $ 1,304,106

Year 3 $ 1,595,994

If the required return is 10 percent, what is the project's NPV?

using a financial calculator, NPV = $120,549.29

Explanation:

cash flow year 0 = $2,880,000 + $360,000 = $3,240,000

MACRS depreciation

33.33% x $2,880,000 = $960,000

44.45% x $2,880,000 = $1,280,160

14.81% x $2,880,000 = $399,840 (since salvage value is $240,000)

cash flow year 1 = [($2,140,00 - $823,000 - $960,000) x 0.65] + $960,000 = $1,192,050

cash flow year 2 = [($2,140,00 - $823,000 - $1,280,160) x 0.65] + $1,280,160 = $1,304,106

cash flow year 3 = [($2,140,00 - $823,000 - $399,840) x 0.65] + $399,840 + $240,000 + $360,000 = $1,595,994

3 0

4 years ago

A and B formed a partnership, each contributing non-cash assets into the partnership. Partner A contributed inventory with a cur

Veseljchak [2.6K]

Answer:

A and B both are responsible for this result

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4 years ago