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3 years ago

Foundational accounting concepts are generally taught in which course(s)?

1 answer:

3 0

Below are the foundational accounting concepts are generally taught:

Financial Accounting

Managerial Accounting

Managerial accounting is more worried about operational reports, which are just disseminated inside an organization. The financial accounting must follow different bookkeeping benchmarks, while administrative bookkeeping does not need to conform to any principles when it arranges data for inward utilization.

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A new faculty member at the local university pays $1,500 per month to rent an apartment in the downtown area. She teaches on cam

Naddik [55]

Answer:

$2,700

Explanation:

Calculation for what should this professor be willing to pay in rent per month

First step is to calculate the Transportation cost per week

Transportation cost = ($25*4 hrs)* 3 per week

Transportation cost =$100*3 per week

Transportation cost= 300 a week

Now let calculate the rent per month

Rent per month= $1500 + ($300*4)

Rent per month=$1,500+$1,200

Rent per month= $2,700

Therefore what should this professor be willing to pay in rent per month to live near campus if her hourly wage rate is $25 will be $2,700

3 0

3 years ago

Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has investe

gtnhenbr [62]

Answer:

Crawford Construction

1. Crawford Construction sold and replaced its inventory:

a. 4.14 x

2. With Construction Industry Inventory Turnover Ratio as 4.55x, Crawford Construction:

b. Crawford Construction is holding more inventory per dollar of sales compared to the industry average

Explanation:

a) Data and Calculations:

Quick ratio = 2.00x,

Cash = $36,225

Accounts receivable = $20,125

Inventory = x

x= $80,500 - 36,225 - 20,125 = $24,150

Total current assets = $80,500

Total current liabilities = $28,175

Annual sales = $100,000

Using annual sales instead of cost of goods sold to calculate the inventory turnover, = Turnover/Inventory = $100,000/$24,150 = 4.14x

b) Quick ratio equals (Current assets - Inventory)/Current Liabilities. Computing the quick ratio in place of the current ratio can be used to identify how Crawford Construction can meet its current (short-term) debts without selling inventory and recovering funds from the sale.

c) The Inventory Turnover Ratio divides the cost of goods sold by the average inventory. The Sales value can approximate the cost of goods sold. The ratio shows the efficiency of Crawford Construction in handling its inventory. The higher the value of the ratio, the better, showing that Crawford is more efficient when it gets a higher turnover ratio.

7 0

3 years ago

Buzz Lightyear has been offered an investment in which he expects to receive payments of $4,000 at the end of each of the next 1

LenaWriter [7]

Answer:

IRR= 21.86%

Explanation:

Giving the following information:

Initial investment (PV)= $10,000

Cash flows (PMT)= $4,000 per year

Number or years (n)= 4

It is extremely difficult to calculate the IRR using the formula. We will use the financial calculator.

Function: CMPD

n= 4

I%= SOLVE = 21.86%

PV= 10,000

PMT= -4,000

IRR= 21.86%

6 0

3 years ago

A small market orders copies of a certain magazine for its magazine rack each week. Let X 5 demand for the magazine, with pmf Su

Oksanka [162]

Answer:

See explanation below.

Explanation:

Let X the random variable that represent the demand for the magazine, the pmf for X is given by:

X 1 2 3 4 5 6

P(X) 1/15 2/15 3/15 4/15 3/15 2/15

3 magazines

For this case the total spent is 2*3 = $ 6

And the net revenue for this case would be:

$4-$6 = -$2 , X=1 (demand 1)

$4*2-$6 = $2 , X=2 (demand 2)

$4*3-$6 = $6 , X=3 (demand 3)

For the values of X=4,5,6 the net revenue will be $6 since the number of magazines is 3

And the expected value for the net revenue would be:

$E(R) = \frac{1}{15} *(-2) +\frac{2}{15} *(2) +\frac{3}{15}*(6) + \frac{4}{15}*(6) +\frac{3}{15}*(6) +\frac{2}{15}*(6) = \frac{74}{15}=4.93$

4 magazines

For this case the total spent is 2*4 = $ 8

And the net revenue for this case would be:

$4-$8 = -$4 , X=1 (demand 1)

$4*2-$8 = $0 , X=2 (demand 2)

$4*3-$8 = $4 , X=3 (demand 3)

$4*4-$8 = $8 , X=4 (demand 4)

For the values of X=5,6 the net revenue will be $8 since the number of magazines is 4

And the expected value for the net revenue would be:

$E(R) = \frac{1}{15} *(-4) +\frac{2}{15} *(0) +\frac{3}{15}*(4) + \frac{4}{15}*(8) +\frac{3}{15}*(8) +\frac{2}{15}*(8) = \frac{80}{15}=5.33$

As as we can see we have a higher expected value for the case with 4 magazines.

5 0

3 years ago

What is the difference between accounts payable and accounts receivable?

NeX [460]

Accounts payable - Accurately tracking what's owed to suppliers, ensuring payments are properly approved and processing payments.

$\: \: \: \: \: \: \: \: \: \: \: \:$

Accounts receivable - The balance of money due to a firm for goods or services delivered or used but not yet paid for by customers.

5 0

2 years ago