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pickupchik [31]
1 year ago
8

8) walter co. and sandburg industries report the following information at december 31: walter sandburg accounts receivable $41,0

00 $68,000 cash 6,000 7,000 finished goods inventory 25,000 work in process inventory 40,000 merchandise inventory 48,000 prepaid expenses 1,000 2,000 raw materials inventory 21,000 required: (a) which company is a manufacturer? explain. (b) prepare the current assets section of the balance sheet for the manufacturer.
Business
1 answer:
True [87]1 year ago
3 0

Walter Co. is a manufacturer because it uses raw materials, and has a stock of merchandise inventory, work-in-progress inventory, and finished goods inventory. The current assets of Walter Co. will be:

Current Assets:

Cash                                                          6,000

Inventories

Raw materials inventory       21,000

Work in progress inventory  40,000

Finished goods inventory      25,000

Merchandise inventory           48,000

Total inventory                                      1,34,000

Other assets

Accounts receivable                               41,000

Prepaid expenses                                     1,000

Current assets                                                               2,22,000

A manufacturing company is a company that takes in raw materials processes the raw materials and then sells the finished goods manufactured in the market. So the current assets section of the balance sheet of Walter Co. is given which will be written on the right side of the balance sheet.

Learn more about manufacturing companies here:

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Andrei [34K]

Answer:

(b) The candidate will be involved in setting up an independent division with responsibility for robotic equipment production and marketing.

Explanation:

  • As an area of global marketing deals with the setting up of strategies for the development of marketing plans for the company. By adjusting the strategies that are well suited to other countries form a global point of view.
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3 0
3 years ago
jervis sells 3400 of its accounts receivable to northern bank in order to obtain necessary cash northern bank charges a 2% facto
lesya692 [45]

Answer:

Factoring fee = 2% * Account Receivable

= 2% * $3,400

= $68

​

Date  Account Titles and Explanation     Debit    Credit

          Cash                                                   $3,332

          Factoring expenses                           $68

                    Account receivables                             $3,400

          (To record the receipt of cash against the receivables)

6 0
2 years ago
Cheryl is watching the weather forecast for an outdoor senior picnic project that she planned to determine whether the picnic wi
ch4aika [34]

Answer:

Monitoring and Controlling

Explanation:

Note that, in Project management  process stages there are typically five phases:

  1. initiating,
  2. planning,
  3. executing,
  4. controlling and
  5. closing.

However, from this scenario in which Cheryl is watching the weather forecast for an outdoor senior picnic project, it shows that she is monitoring and trying to control all aspects of the planned picnic project against the risk of bad weather.

4 0
3 years ago
indicators that the local currency is also the functional currency include all of the following except:
Alchen [17]

Indicators that the local currency is also the functional currency include all of the following except the parent typically provides the financing or provides a guarantee.

A functional currency is one that is utilized in the main economic setting in which a company conducts business. This is the setting in which an entity generates and spends money most frequently. When defining the functional currency of an entity, the following key considerations should be taken into account:

The principal currency influencing retail prices (usually the currency in which prices are denominated and settled).

The money of the nation whose laws and competition have the biggest impact on retail pricing.

The principal currency affecting labor expenses and other costs of goods sold (usually the currency in which prices are denominated and settled).

The currency in which an entity keeps its operating receipts and the currency in which debt and equity instruments are issued are less important deciding factors.

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6 0
1 year ago
The high-low method calculates the total fixed cost as the: Group of answer choices
MaRussiya [10]

Answer:

c. difference between total variable costs and total costs at a particular activity level

Explanation:

The high low method consists of calculating costs on the basis of highest & lowest activity & comparing their corresponding total costs.

Variable cost per unit is found by : change in cost divided by the change in activity level for two points

Variable Cost per unit = <u>Highest activity cost - Lowest activity cost </u>

                                      Highest activity units - lowest activity units

Fixed Cost is thereafter calculated by subtracting Total Variable Costs from Total Cost

Fixed Cost = Highest Activity Total Cost - [ (Variable cost per unit) x (highest activity units)

Fixed Cost = Lowest Activity Cost - [ (Variable cost per unit) x (lowest activity units)]

4 0
2 years ago
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