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2 years ago

The budgeted income statement is typically prepared before the budgeted balance sheet. - true or false?.

Business

1 answer:

nlexa [21]2 years ago

4 0

True The budgeted income statement is typically prepared before the budgeted balance sheet.

<h3>What is balance sheet?</h3>

A balance sheet is a summary of an individual's or organization's financial balances, whether it is a sole proprietorship, a business partnership, a corporation, a private limited company, or another organisation such as the government or a not-for-profit institution.

A balance sheet provides a snapshot of your company's financial position at any given time. A balance sheet, along with an income statement and a cash flow statement, can assist business owners in evaluating their company's financial status.

The balance sheet's basic equation is Assets = Liabilities + Equity. Analysts should be aware that certain assets and liabilities may be assessed differently. Some items, for example, are measured at historical cost or a variation thereof, whereas others are measured at fair value.

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Thomas Consultants provided Bran Construction with assistance in implementing various cost-savings initiatives. Thomas’s contrac

marshall27 [118]

Answer:

1. $104,000 ($67,000 fixed fee + 37,000 bonus) x 30% = 31,200

$67,000 ($67,000 fixed fee + 0 bonus) x 70% = 46,900

$31,200 + $46,900 = $78,100

2. The most likely amount is the flat fee of $67,000, because there is a greater chance of not qualifying for the bonus.

3. Thomas is very uncertain of its estimate, however he can't argue that it won't have a significant amount of revenue in the future. Thomas would not include the bonus estimate, and the transaction fee would be the flat fee of $67,000

4 0

3 years ago

what are the three most important ethical principles that you feel organizations should adhere to in terms of their staffing phi

Alja [10]

Answer:

fairness,
honesty,
integrity

Explanation:

The three most important ethical principles that should guide all organizational activities are fairness, honesty and integrity. Currently we live in a globalized and multicultural business scenario, where there is an intense flow of information and a lot of competitiveness, so it is necessary that organizations seek to adapt their strategic planning to this new reality, where corporate governance is an essential parameter of relationship with a company by many stakeholders.

The fairness, honesty and integrity of the company will help it to maintain an internal environment focused on the development of skills and an organizational culture based on ethics and respect for all employees, regardless of their individual values or hierarchical position. These ethical principles will also help the organization to have a good image in the market, to attract greater reliability and transparency in the processes.

3 0

3 years ago

The Welding Department of Healthy Company has the following production and manufacturing cost data for February 2020. All materi

sammy [17]

Solution:

MANUFACTURING COMPANY

Welding Department

Production Cost Report

For the Month Ended February 28, 2020

Equivalent Units

Quantities Physical Materials Conversion

Units Costs

Units to be accounted for

Work in process, February 1 15,300

Started into production 50,600

Total units 65,900

Units accounted for

Transferred out 54,900 54,900 54,900

Work in process, February 28 11000 11000 2200

Total units 65,900 65,900 65,900

Costs Materials Conversion Costs Total

Unit costs

Total Costs $233945 $128000 $326000

Equivalent units 60000 51200

Unit costs $3.3 $2.5 $5.8

Costs to be accounted for

Work in process, February 1 $32,175

Started into production 293825

Total costs $326000

Cost Reconciliation Schedule

Costs accounted for Transferred out $284200

Work in process, February 28

Materials $36300

Conversion costs 5500 41800

Total costs $326000

3 0

3 years ago

Which statement best describes lifetime income

Volgvan

I took the test and it was B.

3 0

3 years ago

Which of the following businesses is most susceptible to negative network effects? Group of answer choices Moonglow Shoes produc

Vikki [24]

Answer:

Pics Match is the only business sensitive affected by network effect

Explanation:

Moonglow Shoes: The sales are based on answers collected before the launch of the product, and the sales are based on the reputation of the Olympic medalist. The number of users does not change the value of Moonglow Shoes. Clover Technologies: Since the company is B2B (Business to Business), the increasing of final users does not increase the value of the products sold by Clover Technologies. Pics Match: The relevance of the business is based on how much users are enthusiastic about the social network and promote it to other users. The value proposition of Pics Match increases according to the number of users. Green Tools: The increase of users does not increase the subjacent value of products sold by Green Tools, even though the sales channel is internet

7 0

4 years ago