Answer: Cost of Goods sold
Explanation:
Common size analysis refers to making all entries in the income statement, a percentage of sales for that year.
Current Year Prior Year
Sales 100% 100%
Cost of Goods sold 75.7% 46.5%
Gross Profit 24.3% 53.5%
Operating expenses 17.3% 35%
Net Income 7.0% 18.5%
<em>Looking at the percentages above, one can see that the COGS increased the most from the previous year by going from 46.5% to 75.7% representing an increase of 29.2%.</em>
<em>This had the most impact on Net income as it substantially reduced Gross profit. </em>
Answer:
The correct answer is letter "D": Insurance companies will only cover losses suffered while the policy is already in place.
Explanation:
Regardless of the type of insurance you purchase, the purpose of the coverage is having a policy in case an unexpected unfortunate event takes place. <em>Insurances do not enroll individuals who need the policy just because of an ongoing accident</em>. Those individuals could enroll in an insurance plan but the ongoing accident will not be covered by the company. Only those events happening when the policy is already valid are subject to evaluation for coverage.
Answer:
On January 2, 2019, Denny Corp. enters into five-year finance lease for machinery with annual year-end payments of $15,000. The present value of the six annual lease payments is $65,000. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns. View transaction list Journal entry worksheet On January 2, 2019, Denny Corp. enters into five-year finance lease for machinery with annual year-end payments of $15,000. The present value of the six annual lease payments is $65,000. Note: Enter debits before credits. General Journal Debit Credit Date Jan. 2 Record entry Clear entry View general journal
Explanation:
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Answer:
The correct answer is 0.06317911524 or 6.3%.
Explanation:
According to the scenario, the given data are as follows:
FV = $2
PV = $1
Time period (t)= 11 years
So, we can calculate the rate of interest by using following fomula:
FV=PV ( 1 + r ÷12)^12t
By putting the value, we get
$2 = $1 ( 1 + r ÷ 12)^(12 × 11
$2^(1 ÷ 132) = 1 + r ÷ 12
r ÷ 12 = (1.00526492627 - 1)
r = 0.00526492627× 12
= 0.06317911524 or 6.3%
Answer: d.an annual report for external regulators such as the SEC
Explanation:
A managerial accountant is someone who records and analyzes the financial information for an organization. The data analysed will then be used to form financial decisions which can help the organization's growth.
Managerial accountants prepared ls financial information for internal reporting and not external reporting. Therefore, of the options given, the managerial accountants can prepare all the reports except the annual report for external regulators such as the SEC.
