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3 years ago

Jessica wants to pursue a career in finance. Which short, medium, and long-term goals will take her toward the ultimate goal

Business

1 answer:

dimulka [17.4K]3 years ago

4 0

Short term- Getting a part time job in a financial institute as a trainee

medium term- Getting the relevant qualifications needed for the finance field

Long term- Getting a job from a finance company and pursuing her dream

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Adrian Corp. sells goods on account for $100,000 on May 1. On May 15, the customer returns $40,000 of the merchandise. The custo

ololo11 [35]

Answer:

C. DEBIT TO SALES RETURNS

D. CREDIT TO ACCOUNTS RECEIVABLE

Explanation:

The journal entry to record the May 15 transaction is shown below:

Sales return and allowance A/c Dr $40,000

To Accounts receivable $40,000

(Being sales return is recorded)

For recording the given transaction we debited the sales return and credited the account receivable. Both are recorded for $40,000

5 0

3 years ago

Everything else equal, an asset's value is:

Harrizon [31]

Answer:

The correct option is A, an asset's value is inversely related to the rate of return investors require to purchase it

Explanation:

The asset value is the initial purchase price determined by discounting the future cash flows from the asset to present values using a the required rate of return.

Ultimately, the higher the required return, the lower the present value of the investment whose price is being determined and the lower the discount the rate of return used in discounting relevant cash flows to present values the higher the present values.

7 0

3 years ago

The per-unit standards for direct materials are 2 pounds at $5 per pound. Last month, 9200 pounds of direct materials that actua

Andrews [41]

Answer:

the direct material quantity variance is $5,000 favorable

Explanation:

The computation of the direct material quantity variance is shown below:

Direct material quantity variance is

= (Actual quantity - standard quantity) × standard price

= (9,200 pounds - 5,100 units × 2 pounds) × $5 per pound

= (9,200 pounds - 10,200 pounds) × $5 per pound

= $5,000 favorable

hence, the direct material quantity variance is $5,000 favorable

6 0

3 years ago

Suppose that a bank has loaned money to two businesses: a trustworthy computer manufacturer and a risky mining venture. Unfortun

Vladimir [108]

Answer:

The situation is called insolvency. bank is unable to pay to depositor.

Explanation:

The situation is called insolvency. insolvency is refer to the situation when debtor is unable return its debt. The same is happened in the given situation. In the above case due to not paid by manufacturing unit, bank is unable to pay to depositor.

Insolvency is refer to that critical condition when debtor unable to pay amount to depositor. In the above given case even if bank want to sell its all assets it cannot cover its liabilities.

3 0

3 years ago

For each of the below, indicate where each item should be presented in the statement of cash flows (using the indirect method) u

Nataly_w [17]

Answer:

Blank 1 Blank 2

i. Depreciation expense A I

ii. Purchase of office equipment B D

iii. Decrease in accounts receivable A I

iv. Payment of cash dividends C D

v. Conversion of bonds into common stock D N

vi. Sold land and warehouse used in the corp. B I

vii. Gain on sale of land and warehouse in part vi. A D

viii. Issued common stock for cash C I

ix. Decrease in accounts payable A D

x. Increase in inventory A D

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf for the complete question.

How each of the item will appear in the the statement of cash flows (using the indirect method) is also provided below:

XYZ Company

Statement of Cash Flows (Indirect Method Format)

For the year...

Details $ $ 

Operating activities:

Net profit xxx

Adjustment to reconcile net income:

i. Depreciation expense xx

iii. Decrease in accounts receivable xx

vii. Gain on sale of land and warehouse in part vi. (xx)

ix. Decrease in accounts payable (xx)

x. Increase in inventory (xx)

Net cash flows from operating activities xxx

Investing activities:

ii. Purchase of office equipment (xx)

vi. Sold land and warehouse used in the corporation xx

Net cash flows from investing activities xxx

Financing activities:

iv. Payment of cash dividends (xx)

viii. Issued common stock for cash xx

Net cash flows from investing activities xxx

Net cash flow for the year xxx

Beginning cash balance xxx

Ending cash balance  xxx 

Note: The does not affect the cash flows statement:

v. Conversion of bonds into common stock

Download pdf

8 0

3 years ago