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tankabanditka [31]
3 years ago
6

By combining their resources and developing shared goals, procter & gamble and walmart were able to increase the value to th

e final consumer. their relationship is considered ______________.
Business
1 answer:
givi [52]3 years ago
4 0

Answer:

Their relationship is considered <u>"strategic".</u>

Explanation:

Strategic relationships build when individuals focused on keeping up a relationship over the long period and putting resources into circumstances that are commonly valuable.  

Building strategic relationships is important if you want to accomplish your business. These relationships can prompt new business, greater client or customer commitment, and a better name and profile.

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Myrtle Beach Pro-Shop receives information that requires the company to increase its expectations of uncollectible accounts rece
Lera25 [3.4K]

Answer:

b. Accounts receivables (gross) is reduced

Explanation:

As we know that

The journal entry to record the bad debt expense is  

Bad debt expense A/c Dr

  To Allowance for doubtful debts

(Being allowance of uncollectible accounts are recorded)

By passing this journal entry, both bad debt expense and the allowance for doubtful debts which result in a decrease in the net income and the balance of account receivable but the gross of account receivable would remain the same.

3 0
3 years ago
Cleaverland purchased 100% of Omaha on January 1, 2019 for $650,000. On that date, Omaha's stockholders' equity was $650,000, an
zzz [600]

Answer:

$960,000

Explanation:

The balance in equity investment made by Cleaverland in Omaha as at December 31, 2020 shall be determined using the following method:

Purchased price of Cleaverland as at January 1, 2019    $650,000

Net income for the year 2019                                            $150,000

Net income for the year 2020                                           $190,000

Less: Dividend paid by Omaha to Cleaverland                ($30,000)

Balance as at December 31, 2020                                   $960,000

5 0
3 years ago
If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour,
Oksana_A [137]

Answer:

6,000

Explanation:

This question is incomplete. I have given the complete question in addition to my solution below.

If we assume that there is no fixed manufacturing overhead and the variable manufacturing overhead is $10 per direct labor-hour, what is the estimated finished goods inventory balance at the end of July?

Morganton Company makes one product and it provided the following information to help prepare the master budget:  

The budgeted selling price per unit is $70. Budgeted unit sales for June, July, August, and September are 9,700, 28,000, 30,000, and 31,000 units, respectively. All sales are on credit.

Forty percent of credit sales are collected in the month of the sale and 60% in the following month.

The ending finished goods inventory equals 20% of the following month’s unit sales.

The ending raw materials inventory equals 10% of the following month’s raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound.

Thirty percent of raw materials purchases are paid for in the month of purchase and 70% in the following month.

The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct labor-hours.

The variable selling and administrative expense per unit sold is $1.70. The fixed selling and administrative expense per month is $67,000.

Variable manufacturing overhead = $10 per direct labor hour

Amount of time required to finish one unit of goods = 2 hours

Direct labor wage rate = $15 per hour

Amount of raw materials required to finish one unit of goods = 4 pounds

Cost of raw materials = $2.50 per pound

Budgeted selling price per unit = $70

Budgeted unit sales for August = 30,000

Therefore, Unit costs = (4*2.50)+(15*2)+(10*2) = $60 per unit

And cost of goods sold = 28,000 * 60 = $1,680,000

(Gross margin) = (70-60)*28,000

= $280,000

The ending finished goods inventory balance for July = 20% of the following month's (August’s) unit sales.

= 0.20 * 30,000 = 6,000

4 0
3 years ago
Pacific Cruise Lines is a defendant in litigation involving a swimming accident on one of its three cruise ships.Required:1. The
Ainat [17]

Answer and Explanation:

According to the scenario, the journal entries are of the given data are as follow:-

Journal Entry

1. Loss A/c              Dr.  $1,300,000

     To Contingent liability A/c       $1,300,000

(Being the likelihood of a payment occurring is probable is recorded)

For recording this we debited the loss and credited the contingent liability as it increased the loss and liability

2. Loss A/c       Dr.  $1,100,000

     To Contingent liability A/c       $1,100,000

(Being the likelihood of a payment occurring is probable is recorded)

For recording this we debited the loss and credited the contingent liability as it increased the loss and liability

3. The likelihood of payment occurring is reasonably possible instead of probable, so we don’t have a need to record this entry. But we describe this in financial statements in the foot note

No Journal Entry Needed

4. The likelihood of payment occurring is remote so disclosure is not needed.

No Journal Entry Needed

5 0
3 years ago
The three types of buying situations are theoretical and have little relation to what happens in the real world. call for differ
marshall27 [118]
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7 0
3 years ago
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