Answer: D. Select an appropriate transformation process for analysis
Explanation: A flow chart also known as a flow diagram is a schematic representation of how the different stages in a process are interconnected in sequential order. flowchart is a picture of the separate steps of a process in sequential order. It can be adapted for a variety of purposes including manufacturing, administrative, services processes or project plans. The first step in flowcharting is to select the appropriate transformation process for analysis. This involves defining the processes to be diagrammed, discussing and deciding its boundaries or limits: where it would start, where it would end etc. to drawing several major blocks that represent the most important steps in the process.
Answer:
Current ratio = 0.74 : 1
Working Capital = ($26,000)
Explanation:
Given:
Current assets = $74,000
Current liabilities = $100,000
Find:
Working Capital
Current ratio
Computation:
Working Capital = CA - CL
Working Capital = $74,000 - $100,000
Working Capital = ($26,000)
Current ratio = [CA / CL]
Current ratio = [$74,000 / $100,000]
Current ratio = 0.74 : 1
Answer:
D) Recognized $8.91 million loss on the project in 2022.
Explanation:
The computation is shown below:
For Year 2021:
Percentage of work completed in the year 2021 is
= $40 ÷ ($40 + $84)× 100
= $40 ÷ $124 × 100
= 32.26%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $84
= $38
Profit to be recognized in the year 2016 is
= profit × percentage of completion
= $38 × 32.26%
= $12.256
For Year 2022:
Percentage of work completed in the year 2017 is
= ($40 + $65) ÷ ($40 + $65 + $52)
= $105 ÷ $157 × 100
= 66.88%
Profit on the contract is
= Contract price - Already incurred cost - Expected cost
= $162 - $40 - $65 - $52
= $5
Profit that should be recognized till the year 2017 is
= profit × percentage of completion
= $5 × 66.88%
= $3.344
Profit to be recognized in the year 2017 is
= $3.344 - $12.256
= 8.91 million loss
Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
I believe the correct answer is implementing her financial plan.
She has a certain plan, which in this case, is retiring and traveling around the world. In order to do that, she has to take a look at her savings and see whether she is able to do that financially. If she is, she can make a plan and implement it, meaning, start using it.
