Answer:
$284,000
Explanation:
Movements in the retained earnings account are as a result of the payment of dividend and the addition of the income or loss for the year.
Given that
Baxter generated revenues = $40,000
incurred expenses = $24,000
purchased equipment = $10,000 and
paid dividends = $4,000
Net income/(loss) = $40,000 - $24,000
= $16,000
Retained Earnings at September 30, 2012
= $272,000 + $16,000 - $4,000
= $284,000
Answer:
(i) The farm can cover its revenue using its total variable cost, therefore the farm will continue producing 200 units
(ii) The farm cannot cover its revenue using its total variable cost, therefore the farm will shut down
(iii) The two relevant points on supply curve will be: (Price = $12 & Quantity = 0) and (Price = $25 & Quantity = 200)
Explanation:
(i)According to given data, When output is 200 but price is $20, this price is equal to ATC, so the farm breaks even. But since this price is higher than AVC of $15, the farm can cover its revenue using its total variable cost, therefore the farm will continue producing 200 units.
(ii) When output is 200 but price is $12, this price is equal to ATC, so the farm makes economic loss. Also, this price is lower than AVC of $15, so the farm cannot cover its revenue using its total variable cost, therefore the farm will shut down.
(iii) The farm's supply curve is the portion of its Marginal cost (MC) curve above the minimum point of AVC. Since price equals MC, the two relevant points on supply curve will be: (Price = $12 & Quantity = 0) and (Price = $25 & Quantity = 200).
Answer:
1.Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.
physical controls
2.The store manager personally approves all payments before signing and issuing checks.
segregation of duties
3.The company checks are unnumbered.
documentation procedures
4.After payment, bills are “filed” in a paid invoice folder.
documentation procedures
5.The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.
independent internal verification
Explanation:
1.Each week, Katja leaves 100 company checks in an unmarked envelope on a shelf behind the cash register.
physical controls
2.The store manager personally approves all payments before signing and issuing checks.
segregation of duties
3.The company checks are unnumbered.
documentation procedures
4.After payment, bills are “filed” in a paid invoice folder.
documentation procedures
5.The company accountant prepares the bank reconciliation and reports any discrepancies to the owner.
independent internal verification
Answer:
1-a. ACME corporation is 1.26
Wayne corporation is 1.09
1-b. ACME corporation
Explanation:
ACME ($ in millions) Wayne ($ in millions)
Total current assets $ 12,987 $ 8,258
Total current liabilities $ 10,301 $ 7,545
1-a) Formula for calculating current ratio: Current ratio = Current assets ÷ Current liabilities
ACME corporation, current ratio = $ 12,987 million ÷ $ 10,301 million = 1.26
Wayne corporation, Current ratio = $ 8,258 million ÷ $7,545 million = 1.09
1-b. The higher the current ratio, the better the liquidity position. ACME corporation has the better ratio.
From the description in the question, it is more likely for Caleb to be a (B) correction officer.
A correctional officer, also known as a prison officer is responsible for supervising prisoners in a prison or jail. He is also responsible for ensuring the safety and security of these prisoners. Besides working in a prison or jail, a correction officer might also work in a reformatory or penitentiary.
