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1 year ago

Interest payable, income tax payable and salary payable are all examples of _______.

1 answer:

wel1 year ago

8 0

Those are all examples of liabilities. To be more specific, they are current liabilities. Interest payable, income tax payable, and salary payable are obligations that must be paid of within one operational cycle, thus they are just current liabilities.

Current liabilities are debts that must be paid off within a year or one operational cycle, whichever comes first. They can also be paid off using current assets or generate new current liabilities.

Analysts, accountants, and investors assess a firm's payables to determine how effectively it can fulfill its short-term financial obligations thus, the firm basically needs to generate sufficient profits and money in the immediate term to meet its debt commitments.

Learn how to define liability and differentiate between a current liability and a long-term liability: brainly.com/question/28391469

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Almost all tasks in a project will be connected using either _____ or _____ dependencies.Select an answer:a)start-to-finish; fin

anyanavicka [17]

Answer:

c) finish-to-start; start-to-start

Explanation:

Project dependencies are the time relationships between a predecessor and a successor in project management. In other words, these dependencies describe which activity among the two needs to start earlier or later and when it needs to start or finish compared to the other one.

The most common type of dependency in all projects (no matter the nature or industry) is the finish-to-start one, where the activity A needs to be completed before activity B starts, e.g. base nail polish has to be put before the top coat gets put on the nails.

The second most common type of dependency is the start-to-start one, where two activities need to start at the same time. This is common for activities where synchronization is paramount.

3 0

3 years ago

Read 2 more answers

Jefferson Company has sales of $300,000 and cost of goods available for sale of $270,000. If the gross profit ratio is typically

Ivenika [448]

Answer:

$60000

Explanation:

Given: Sales = $300000.

Cost of goods available for sale= $270000.

The gross profit ratio= 30%

First finding the gross profit out of total sales.

Gross profit= $30\% \times 300000$

Gross profit= $\$ 90000$

∴ Cost of goods sold= $Total\ sales - gross\ profit$

Cost of goods sold= $300000-90000$

Cost of goods sold= $\$ 210000$

Hence, cost of goods sold= $\$ 210000$

Now, finding estimated cost of the ending inventory.

Cost of ending inventory= $cost\ of\ goods\ available\ for\ sale - cost\ of\ goods\ sold$

⇒ Cost of ending inventory= $\$ 270000- \$ 210000$

∴ Cost of ending inventory= $\$ 60000$

Hence, estimated cost of the ending inventory under the gross profit method would be $60000.

3 0

3 years ago

Why delegate authority and not responsibility

MArishka [77]

Answer:

Authorities can be assigned, but never delegated obligations. Subordinates are responsible for "results" and managers are responsible for their subordinates ' actions. You can't be held responsible for a mission if you have little competence.

Explanation:

The delegation lets you pass the power to professional team members to work on more urgent matters. But you are still responsible for doing these in the right way. It is therefore necessary to periodically track the status or interact with the team member

Let us recognize some of the fundamental principles to be observed in delegating: 1. The delegated authority to subordinates should be adequate to achieve the desired performance.

2. The power may be delegated but never assigned responsibility. Subordinate accountability is "efficiency" and managers are "responsible for their subordinates ' activities."

3. A duty can not be held accountable if it only has limited authority. A balance between authority and responsibility must be created.

4. A single superior's presence brings to mind the subordinate more personally responsible.

8 0

3 years ago

Analyzing and Reporting Financial Statement Effects of Transactions M.E. Carter launched Carter Company, a professional services

Aleonysh [2.5K]

Answer:

$18,000

Explanation:

To find the Sales Revenue we simply add the $12,000 cash received immediately, and the $30,000 received as partial payment, totalling $42,000.

Then, we simply complete the proposed income statement:

Income Statement for the Month Ended in March 31

Sales Revenue $42,000

Rent Expense $9,600

Wage Expense $14,400

Net Income $18,000

Net Income is equal to Revenue - expenses.

7 0

3 years ago

is a retail chain specializing in salon-quality hair-care products. During the year, had sales of . The company began the year

dem82 [27]

Answer:

.................................................Big Fuzzy Spider.................................................

.....................................Income Statement for the year.....................................

Sales............................................................................................ $39,150,000

Cost of Goods sold:

Opening Inventory ............................................$3,500,000

Add: Purchases...................................................$23,350,000

Less: Closing Inventory.................................... $4,445,000

Less: Cost of Goods Sold .........................................................($‭22,405,000‬)

Gross Profit....................................................................................$16,745,000

Less: Operating Expenses ........................................................($7,225,000)

Net Profit ................................................................................$9,520,000

6 0

3 years ago