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3 years ago

Mary co-signs for a car loan for Barbara. What can happen to the car if Barbara misses a few payments on the car loan?

1 answer:

4 0

Most likely, Mary would be charged a higher amount of interest for missing payments, and would be charged more and more the if she continued to miss payments.

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Assume Joe Harry sells his 25% interest in Joe's S Corp., Inc. to Tyrone on January 29. Using the specific identification alloca

WARRIOR [948]

Answer:

The $29,000 is the income which does harry report

Explanation:

Special identification allocation method: Under this method, the allocation is done on the basis of days, weeks, etc to know how much inventory is left on the particular date.

First we have to calculate the income of one day so that we can easily compute for the 29 days. The calculation is shown below.

One day income = Total income ÷ Number of days in a year

= $1,460,000 ÷ 365 days

= $4,000

Now,the income is

= one day income × 29 days × rate if interest

= $4,000 × 29 × 25%

= $29,000

Thus, the $29,000 is the income which does harry report

4 0

3 years ago

Warner Company purchases $50,100 of raw materials on account, and it incurs $62,800 of factory labor costs. Supporting records s

a_sh-v [17]

Answer:

[Debit] Work In Process : Assembly Department $47,064

[Debit] Work In Process : Finishing Department $19,504

[Credit] Overheads $66,568

Explanation:

Note that overheads are assigned to departments on the basis of 160% of labor costs. Thus, our first point of call is to determine the labor cost for the respective departments. After that we then apply the 160 % to arrive at the Overheads assigned to that department

Step 1

Determine Departmental Labor Cost

Total Labor Costs = $62,800

Assembly Department = ( $44,400)

Finishing Department = $18,400

Step 2

Determine Overhead Cost for the Departments

Assembly Department ( $44,400 × 160 %) = $47,064

Finishing Department ( $18,400 × 160 %) = $19,504

Step 3

Journalize

Debit the Work In Process Account for the respective department and Credit the Overheads Account as above.

5 0

3 years ago

Transferring a strategic plan into a reality can take more than planning. Provide an example of a leader who has transformed a s

vladimir1956 [14]

Explanation:

Strategic planning is essential for a company to be well positioned in the market and achieve success. However, more than planning, it is necessary to carry out the actions that will lead the company to achieve its objectives.

An example of a leader who knew how to effectively execute his strategies and make his company globally recognized was Steve Jobs. He wanted to create pioneering products in technological innovation and that at the same time had a focus on the needs and desires of the consumer, in addition to the central functionalities, Apple devices combined characteristics that differentiated them from their competitors, bringing a whole concept behind the brand, combining technology, innovation, design and other elements that transfer value to the product and position the brand in the market.

The greatest examples of business that can be learned from Steve Jobs is to keep the focus on innovation and customer loyalty, combining simplicity for the use of computers and cell phones with a high quality that has become a reference.

7 0

3 years ago

When establishing criteria to measure the success of a customer-oriented business, managers should:?

gavmur [86]

Managers should conduct a 360 evaluation of staff performance. This includes gathering feedback from suppliers, customers, and other employees. Customer surveys, with an incentive, are an effective way to measure success and gather target feedback. A key performance indicator for this type of business is customer retention.

7 0

3 years ago

If the administrator prohibits investment advisers in that state from taking custody of customer funds or securities, then the i

Ket [755]

The investment adviser would not be permitted to accept securities from a customer that are registered in customer name if administrator prohibit him from taking custody of customer, as per Securities and Exchange Commission.

As per the Securities and Exchange Commission, The Commission has amended the custody rule in accordance with the Investment Advisers Act of 1940. The amendments modernize the rule by bringing it in line with modern custodial practices and requiring advisers who have custody of client funds or securities to keep those assets in the custody of broker-dealers, banks, or other qualified custodians. The amended rule also defines "custody" and illustrates situations in which an adviser has custody of client funds or securities. The amendments are intended to improve client asset protection while reducing the burden on advisers who have custody of client asset.

Learn more about Securities and Exchange Commission here:

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8 0

2 years ago