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tatyana61 [14]
3 years ago
8

PSI, a financial services consultant, estimates that over _____ million U.S. households have a net worth in excess of $1 million

.
Business
1 answer:
True [87]3 years ago
6 0
About 4 million households in US have a net worth in excess of 1 million. And from that 4 million, only about 1800 of them that excess $ 1 billion in net worth ( accordint to data in 2016)
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On December​ 31, Year​ 10, Brown Company changed its inventory valuation method from the​ weighted-average method to FIFO for fi
Butoxors [25]

Answer: Overstatement of profit by $8000

Explanation:

The change in an accounting method of valuing stock which results in decrease in the value of stock will increase the profit when compared to the period before the method that decrease the stock was used. To effect the change a debit charge will be made to the retained earnings and a credit charge to the stock account to reduce the value.

6 0
3 years ago
A publisher faces the following demand schedule for the next novel from one of its popular authors:
enyata [817]

Answer and Explanation:

The completion of the second, fourth, and fifth columns of the given table is to be shown in the attachment below:

As we know that

Profit = Total revenue - total cost

Total revenue is the revenue earned by the company by multiplying the price with the quantity demanded

While the total cost is

= Fixed cost + variable cost

The marginal revenue comes from

= Change in total revenue ÷ change in quantity

We simply use these formulas in the spreadsheet below.

4 0
3 years ago
A company has a net cash inflow from operating activities of $793,000, a net cash outflow of $58,000 from investing activities a
IRINA_888 [86]

Answer:

Incorrect Statement about the Statement of Cash Flows:

c. The cash dividends of $201,000 paid will be reported as a cash outflow in the cash flow from investing activities section.

Explanation:

Cash dividends of $201,000 will be reported as a cash outflow in the financing activities section and not the investing activities section.

Statement of Cash Flows is broadly divided into three, the operating, investing, and financing activities sections.  The operating activities section show the cash flows from the normal business of the enterprise.  The investing activities section shows the acquisition and disposal of investments made by the company in cash.  While, the financing section shows the inflow and outflow of cash resulting from the funding of the business by stockholders and noncurrent creditors.

4 0
3 years ago
Bradshaw Company provided the following data: Standard fixed overhead rate (SFOR) $5 per direct labor hour Actual fixed overhead
bezimeni [28]

Answer:

1. 60,000 hours

2. $300,000

3. $1,680 Unfavorable

Explanation:

1. The computation of the standard hours allowed for actual production is shown below:

= Actual production × Standard hours allowed per unit

= 15,000 units × 4 hours

= 60,000 hours

2. The computation of the applied fixed overhead is shown below:

= Standard hours allowed for actual production × Standard fixed overhead rate

= 6,000 hours × $5

= $300,000

3. The computation of the total fixed overhead variance is shown below:

= Actual fixed overhead costs - Applied fixed overhead

= $301,680 - $300,000

= $1,680 Unfavorable

8 0
3 years ago
Q 1.16: spelling corporation only maintains enough finished product inventory to cover their average weekly order volume. althou
vfiekz [6]
I think that Spelling Corporation uses JUST-IN-TIME inventory method.

Just-in-time inventory method requires producers to forecast demand as accurately as possible to ensure that the supply is sufficient to cover demand without excesses that may result to wastage and losses. Just-in-time inventory method promotes increase in efficiency in producing products.

Other inventory methods are manual counts, perpetual inventory, first-in first-out (FIFO), and last-in first-out (LIFO).

4 0
3 years ago
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