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3 years ago

Which of the following is a difference between the financial statements of a merchandising company and a service company?

Business

1 answer:

Nookie1986 [14]3 years ago

6 0

Answer:

The correct option is (B)

Explanation:

Cost of goods sold the cost attributed to goods produced by the organization. Cost of goods sold is incurred by organizations that manufactures a tangible product. Service firms do not incur any cost on goods sold as they do not need any raw material to manufacture goods.

Cost of goods sold is an expense and not an asset as it is a cost incurred to manufacture assets for the organization.

Therefore, correct option is (B)

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Below is a partial portion of Jolex’s adjusted trial balance. Cash 12,692 Accounts Payable 5,443 Retained Earnings 1,593 Sales R

Nataliya [291]

Answer:

$ 5,937.00

Explanation:

The credit to retained earnings in the year would be the net income for the year which is computed as sales and rent revenue added together minus salaries and wages expense,depreciation expense , utilities expense recorded in the year.

Net income=$13,108+$2,756-$6,639-$1,610-$1,678=$ 5,937.00

All in all,the credit to retained earnings would be $ 5,937.00

The net income is the amount by which the overall retained earnings would increase in the current year

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3 years ago

In December 1999 people feared that there might be computer problems at banks as the century changed. Consequently, people wante

valkas [14]

Answer:

D) would reduce the multiplier. If the Fed wanted to offset the effect of this on the size of the money supply, it could have bought bonds

Explanation:

Banks "create" money when they use their clients' money to make loans to other clients. If the banks' clients started to withdraw significant amounts of money, that would reduce the banks' capability of creating money which in turn would reduce the money multiplier. If the FED had bought bonds from private investors then they would have increased the money supply and probably also increased the money multiplier.

6 0

3 years ago

Bubba's Custom Shrimp Catering uses activity-based costing to determine the cost of its catering events. The firm has two activi

Svetach [21]

Answer:

The best option would be option d since it provides the least cost and therefor a higher possibility of being the most profitable.

a. Total cost for option a=$37,000

b. Total cost for option b=$36,250

c. Total cost for option c=$33,750

d. Total cost for option d=$30,625

Explanation:

Step 1: Determine the formula total cost

Total cost=direct costs+cooking cost+serving cost+improvement costs

Consider option a

where;

direct costs=$400×25=$10,000

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25=$12,500

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12

number of events=25

number of plates per event=(80/100)×50=40

serving cost=12×25×40=$12,000

Improvement costs=$2,500

replacing;

Total cost=10,000+12,500+12,000+2,500=$37,000

Consider option b

where;

direct costs=$10,000

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25=$12,500

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12×0.75=$9

number of events=25

number of plates per event=50

serving cost=9×25×50=$11,250

Improvement costs=$2,500

replacing;

Total cost=10,000+12,500+11,250+2,500=$36,250

Consider option c

where;

direct costs=$10,000×0.75=$7,500

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25=$12,500

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12×0.75=$9

number of events=25

number of plates per event=50

serving cost=9×25×50=$11,250

Improvement costs=$2,500

replacing;

Total cost=7,500+12,500+11,250+2,500=$33,750

Consider option d

where;

direct costs=$10,000×0.75=$7,500

cooking costs=cooking cost per catering event×number of catering events

cooking costs per year=500×25×0.75=$9,375

serving cost=serving cost per plate×number of events×number of plates per event

serving cost per plate=$12×0.75=$9

number of events=25

number of plates per event=50

serving cost=9×25×50=$11,250

Improvement costs=$2,500

replacing;

Total cost=7,500+9,375+11,250+2,500=$30,625

7 0

3 years ago

Under the Federal Arbitration Act (FAA), if an employee signs a mandatory arbitration agreement in which he agrees to waive his

Alex_Xolod [135]

Answer:

False

Explanation:

Under the Federal Arbitration Act (FAA) tells that the Fifth Circuit agreed with the National Labor Relations Board that the employer’s arbitration agreement violated the National Labor Relations Act. because it is not state clear that employees were not prohibited from filing unfair labor practices charges with the NLRB and here given employee is agrees to waive his right to bring a future sexual harassment in the court

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4 years ago

An agreement where one firm provides managerial assistance, technical expertise, or other specialized services for an agreed amo

ad-work [718]

Answer:

Strategic Partnership

Explanation:

This is a arrangement where two or more companies come together under contractual agreement to work as one in other to achieve a goal or deliver a project, for the benefit of both parties.

In most cases one of the parties has a project to execute but lacks the resources to adequately execute it and as a result needs support from one or two more partners. They more or less become a joint venture for an agreed upon length of time.

8 0

3 years ago