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2 years ago

The costs of providing a work space for project workers, office furniture, electricity, and a cafeteria are ____ costs.

1 answer:

6 0

The costs of providing a workspace for project workers, office furniture, electricity, and a cafeteria are <u>indirect</u> costs.

Cost, generally speaking, is the monetary value of goods and services purchased by producers and consumers. In a basic economic sense, the cost is a measure of the alternative choices he gives up in choosing one good or activity over another.

There are two basic types of costs that a business incurs: fixed costs and variable costs. Fixed costs do not change with performance, while variable costs do. Fixed costs are sometimes called overhead costs. It occurs whether the firm produces 100 products or 1,000 products.

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In which part of a résumé would you mention the names and contact details of your previous employers? In your résumé, you need t

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It should be under Employment History

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3 years ago

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The GAP is a global clothing retailer for men, women, children, and babies. The following information is taken from The Sap's fi

Alexxandr [17]

Answer:

The GAP

a. Cost of goods sold = $10,364

b. Cash paid to suppliers = $10,409

Explanation:

a) Data and Calculations:

Selected Balance Sheet Data

($ millions) 2015 2014

Inventories $1,918 $1,844

Accounts Payable 1,157 1,128

Purchases during 2015 = $10,438 million

b) Cost of goods sold:

Beginning inventory $1,844

Purchases 10,438

Goods available $12,282

Ending inventory (1,918)

Cost of goods sold $10,364

c) Accounts Payable:

Beginning balance $1,128

Purchases 10,438

Less ending balance 1,157

Cash paid to suppliers $10,409

3 0

3 years ago

The Murdock Corporation reported the following balance sheet data for 2021 and 2020:

Alex_Xolod [135]

Answer:

The Murdock Corporation

Statement of Cash Flows for the year ended December 31, 2021

Operating activities (only):

Net income $69,000

Depreciation expense 51,100

Gain on sale of securities (6,400)

Gain on sale of equipment (1,950)

Changes in working capital:

Accounts receivable (13,650)

Inventory (21,900)

Prepaid insurance 690

Accounts payable (74,230)

Salaries payable (6,400)

Notes payable (current) (51,900)

Cash flow from operations ($55,640)

Explanation:

a) Data and Calculations:

2021 2020 Change

Cash $98,465 $34,355 +$64,110

Available-for-sale debt securities

(not cash equivalents) 25,000 104,000 -79,000

Accounts receivable 99,000 85,350 +13,650

Inventory 184,000 162,100 +21,900

Prepaid insurance 3,210 3,900 -690

Land, buildings, and

equipment 1,288,000 1,144,000 +144,000

Accumulated depreciation (629,000 ) (591,000 ) +38,000

Total assets $1,068,675 $942,705

Accounts payable $93,440 $167,670 -74,230

Salaries payable 27,600 34,000 -6,400

Notes payable (current) 42,100 94,000 -51,900

Bonds payable 219,000 0 +219,000

Common stock 300,000 300,000 0

Retained earnings 386,535 347,035 +39,500

Total liabilities and

shareholders' equity $1,068,675 $942,705

Additional information for 2021:

1. Available=for-sale debt securities:

Cost = $79,000

Sales = 85,400 Cash

Profit = $6,400

2. Equipment:

Cost = $20,000

Acc. Dep. 13,100

Book value 6,900

Cash sales 8,850

Profit = 1,950

Accumulated Depreciation:

Beginning balance $591,000

Sale of equipment (13,100)

Depreciation expense 51,100

Ending balance 629,000

3. Bonds issue = $219,000

Interest on bonds = 13,140 ($219,000 * 6%)

4. Purchase of new equipment = $164,000

5. Cash dividends = $29,500

6. Net income = $69,000

Statement of Cash Flows for the year ended December 31, 2021

Operating activities:

Net income $69,000

Depreciation expense 51,100

Gain on sale of securities (6,400)

Gain on sale of equipment (1,950)

Changes in working capital:

Accounts receivable (13,650)

Inventory (21,900)

Prepaid insurance 690

Accounts payable (74,230)

Salaries payable (6,400)

Notes payable (current) (51,900)

Cash flow from operations ($55,640)

Investing activities:

Sale of equipment 8,850

Purchase of equipment (164,000)

Available-for-sale debt securities

(not cash equivalents) 85,400

Cash flow from investing ($69,750)

Financing activities:

Issue of bonds 219,000

Dividends (29,500)

Cash from financing $189,500

Net Cash flows $64,110

Reconciliation:

Beginning cash balance $34,355

Net Cash flows $64,110

Ending cash balance $98,465

5 0

2 years ago

Boomer company purchased office equipment for $1,000 on december 5. the office equipment depreciated $30 during december. the ad

Lerok [7]

Boomer company purchased office equipment for $1,000 on december 5. the office equipment depreciated $30 during december. the adjusting entry should include a: Debit to Depreciation expense $ 30

Adjusting entries correct previously recorded journal entries, allowing revenue and costs to be recognized as they occur.

Assume, for example, Depreciation that you bill a customer for $1,000 in services in December. They then pay you in January or February, after the previous fiscal year has ended.

To begin, you record the cash in December as profit expected to be collected in the future in accounts receivable. Then, when the client pays in February, an adjustment entry must be made to record the receivable as cash.

This is referred to as an accrued revenue adjustment entry.

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5 0

1 year ago

Which of the following jobs is referred to as a trade?

Tpy6a [65]

Carpentry

Hope that helps! :)

3 0

3 years ago

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