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nirvana33 [79]
3 years ago
12

Advertiser Co.’s directors voted immediately after year end to double the advertising budget for the coming year and authorized

a change in advertising agencies. What is the effect of this event on the year-end statements?
Business
1 answer:
diamong [38]3 years ago
7 0

Answer:

No financial statement revision.

Explanation:

Financial statements are a snap shot of the performance of a business within a given period. The period is always defined and can be a month, a quarter, biannual, or a year.

In this instance the financial statements for the previous year has already been prepared, and Advertiser Co.’s directors voted immediately after year end to double the advertising budget for the coming year and authorized a change in advertising agencies.

There will be no revision of financial statement as this activity happened after the year the financial statement is reporting for.

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Wilturner Company incurs $90,000 of labor related directly to the product in the Assembly Department, $39,000 of labor related t
Marina CMI [18]

Answer:

Wilturner Company

The journal entries to record the labor for the Assembly Department would include:

Debit Work in Process $155,000

Credit Direct labor $90,000

Credit Variable factory overhead $39,000

Credit Fixed factory overhead $26,000

To record the direct and indirect labor costs of the assembly department.

Explanation:

a) Data and Analysis:

Direct labor $90,000

Variable overhead (labor) $39,000

Fixed overhead (labor) $26,000

b) The direct labor cost = $90,000 and Factory overhead costs = $65,000 ($39,000 + $26,000)

7 0
2 years ago
Why shouldn’t i let someone else use my business name
Strike441 [17]
Hello,

Not sure if this is a school related question but i have the answer for ya (:

There are multiple reasons on why you shouldn't let another person use your business name.
1. They can make YOUR profit off of what you sell
2. It can lead to a law suit in the future
3. 2 businesses using the same name always leads to unwanted problems, finance cases, business claims, and the possibility of being sued by the other person.

Best option would be for you to make your own business name and get it trademarked so that nobody will copy you! (:
4 0
3 years ago
Assuming that all other requirements are met, a corporation may elect to be treated as an s corporation under the internal reven
gayaneshka [121]
<span>Assuming that all other requirements are met, a corporation may elect to be treated as an s corporation under the internal revenue code if it has </span>seventy-five or fewer stockholders.

S corporations are ordinary business corporations that <span><span>has between 1 and 100 shareholders and</span> elect to pass corporate income, losses, deductions, and credit through to their shareholders for federal tax purposes.</span>

6 0
3 years ago
What is the danger of having a lot of debt?<br> (brainlyest)
ArbitrLikvidat [17]

Answer:

probably not paying it off in time or something

Explanation:

4 0
2 years ago
Read 2 more answers
Eddy Company is starting business and is unsure of whether to sell its product assembled or unassembled. The unit cost of the un
GREYUIT [131]

Answer:

d. Process further, the company will be better off by $12 per unit.

Explanation:

In order to make the decision we first analyse the costs and profit per unit of each decision.

Profits from unassembled product is as,

Profit = 135 - 60 = $75 per unit

Profits from assembled product is as,

Profits = 174 - 60 - 27 = $87 per unit

The differential is a positive profit = 87 - 75 = $12/ unit after assembly.

So the company should process further as there is an additional $12 to be made per unit.

Hope that helps.

3 0
3 years ago
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