All categories

3 years ago

Which of the following statement is correct?

Business

1 answer:

Mice21 [21]3 years ago

6 0

Answer:

C. A typical industrial company's balance sheet lists the firm's assets that will be converted to cash first, and then goes on down to list the firm's longest lived assets last.

You might be interested in

The purchase of store equipment for cash reduces assets and owner's equity by an equal amount.

irga5000 [103]

False, increases assests

5 0

3 years ago

Information concerning Johnston Co.'s direct materials costs is as follows: Standard price per pound $6.45 Actual quantity purch

Ghella [55]

Answer:

The correct answer is $322,5 favorable.

It used 50 pounds less than estimated for the number of units produced.

Explanation:

Giving the following information:

Standard price per pound $6.45

Actual quantity used in production 2,750 pounds

Units of product manufactured 700

Materials purchase-price variance–favorable $855

Budget data for the period:

Units to manufacture 1,000

Units of direct materials 4,000 pounds

First, we need to determine the standard quantity required.

Standard quantity= 4,000 pounds/ 1,000 units= 4 pounds per unit

Now, we can calculate the quantity variance:

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (2,800 - 2,750)*6.45= 322.5 favorable

7 0

4 years ago

According to the law of supply, assuming other factors are held constant: as the supply of bread increases, the price of bread w

tigry1 [53]

Answer:

as the price of bread increases, the quantity of bread supplied will increase.

Explanation:

The law of supply shows the positive relationship between the price and the quantity supplied keeping all other factors constant. that means if the price of one good is increased so the quantity supplied of that good also increased

So as per the given situation if the price of bread rises so the quantity of bread supplied also rises

Therefore the last option is correct

4 0

3 years ago

Vito is the sole shareholder of Vito, Inc. He is also employed by the corporation. On June 30, 2020, Vito borrowed $8,000 from V

otez555 [7]

Answer:

The first loan for $8,000 could fall under the exemption of employer-employee loan. But then after the second is taken, that exemption would no longer apply. A minimum interest of $18,000 x 4% x 6/12 = $360 should be charged.

If the loan is considered a corporation-shareholder loan, then it doesn't qualify for any type of exemption, resulting in interests = ($8,000 x 4% x 6/12) = $160 for 2020

for 2021, interest applied = [($8,000 + $160) x 4%] + ($10,000 x 4% x 6/12) = $326.40 + $360 = $686.40

3 0

3 years ago

Using another product , for example , bread or clay pots , explain , with simple illustrations , how division of labour or speci

Stells [14]

Answer:

the labour forces can be divided like

resource gathers

finance department

marketing department

hygiene development department

5 0

2 years ago