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3 years ago

Accountants truly represent the financial managers of a business. a. True b. False

1 answer:

8 0

b.FALSE
Accountants perform the technical aspects of gathering, organizing, classifying, and summarizing events and transaction, and prepare technical documents such as financial statements and reports. Finance managers interpret the results of these reports and create financial strategy for the firm.

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Xavier and Yolonda have original investments of $100,000 and $50,000 respectively in a partnership. The articles of partnership

sveticcg [70]

Answer:

Total of Xavier's share = $49750

Explanation:

The allocation of net income to both Xavier and Yolonda will be as follows,

Net Income 90000

Interest on Capital:

Xavier(0.15 * 100000) 15000

Yolonda(0.15 * 50000) 7500 (22500)

67500

Salary:

Xavier 22000

Yolonda 20000 (42000)

25500

Share of remaining profit:

Xavier 12750

Yolonda 12750 25500

Total of Xavier's share = 15000 + 22000 + 12750 = $49750

4 0

3 years ago

Suppose that the bond market and the money market both start out in equilibrium, then the Federal Reserve increases the money su

Trava [24]

Answer:

b) surplus; shortage; up; fall

Explanation:

If the bond market and money market start out at equillibrum, and money supply is increased there will be an excess (surplus) of money over bonds.

That is more money to buy less bonds. The relative scarcity of bonds will result in a shortage (bond supply cannot meet demand).

As a result of the shortage price of bonds will increase because more people are looking for the scarce bonds.

Price of bonds has an inverse relationship with interest. As price increases interest rates will fall.

For example consider a zero coupon bond of $1,000, being sold for low price of $850. On maturity it will yield gain of $150.

If the price rises to $950 the yield will only be $50.

So as price increases and interest (yield) decreases, it will no more be attractive to investors and demand will reduce to meet the available supply of bonds.

4 0

3 years ago

On January 5, 2020, Sheffield Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 7% cumu

andrew11 [14]

Answer:

Sheffield Corporation

Journal Entries

Date Description DR CR

Jan 11 Cash 292,500

Common stock 195,000

Paid in Capital for common stock 97,500

Being the amount received on issue of

Feb 11 Equipment 53,300

Factory Building 152,000

Land 295,000

Prefereed stock 410,000

Paid -in -capital for Preferred stock 90,300

July 29 Treasury stock 25,600

Cash 25,600

Being the payment of own share purchased

Aug 10 Cash 22,400

Retained Earnings 3,200

Treasury stock 25,600

Dec 31 Retained earnings 10,025

Dividend(0.35*19500) 6,825

Treasury stock 3,200

Dec 31 Net Income ( Income Summary) 158,400

Retained Earnings 158,400

Balance sheet as at Dec 31

Equity

Common stock at $10 par value $195,000

7% Preferred Stock 410,000

Paid in capital for common stock 97,500

Paid in capital for Preferred stock 90,300

Retained Earnings ( 158,400-6825-3200) 148,375

941,175

Explanation:

4 0

3 years ago

Xie Company identified the following activities, costs, and activity drivers for this year. The company manufactures two types o

Nikolay [14]

Explanation:

The computation of the activity rate for each activity is shown below:

As we know that

Activity Rate = Expected rate ÷ Activity Driver

For Handling material = $650,000 ÷ 100,000 = $6.50 per part

For Inspecting product = $925,000 ÷ 1,500 parts = $616.67 per batch

For Processing purchase orders = $130,000 ÷ 700 = $185.72 per orders

Paying supplies = $200,000 ÷ 500 = 400 per invoices

Insuring the factory = $325,000 ÷ $40,000 = $8.125 per square foot

Designing packaging = $100,000 ÷ 2 models = 50,000 per models

5 0

4 years ago

Which of the following is an argument for free trade?

ipn [44]

i think it's" B" , from the explanation!

Explanation:

Free trade increases the size of the economy as a whole. It allows goods and services to be produced more efficiently. ... Free trade is good for consumers. It reduces prices by eliminating tariffs and increasing competition. Greater competition is also likely to improve quality and choice.

4 0

3 years ago