I'm selling candy and need tips.

Lake Corporation is considering the elimination of one of its segments. The segment incurs the following fixed costs. If the seg

77julia77 [94]

Answer:

the amount of avoidable cost associated with the segment is $754,000

Explanation:

The cost associated with the segment to be eliminated including:

- Advertising expense $140,000

- Supervisory salaries $300,000

- Allocation of companywide facility-level costs $130,000

- The loss for unsold building (*): $60,000

- Maintenance costs on equipment $112,000

- Real estate taxes on building $12,000

The total cost is $754,000

(*) The earning from sold building (book value) = Market value of building $160,000 - Book value of building $100,000 = $60,000

3 0

3 years ago

The fasb's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or ce

andre [41]

These gains and losses may be described or classified as either operating or nonoperating, depending on their relation to an entity's major ongoing or central operations.

<h3>What does Conceptual Framework say about profit and loss?</h3>

The Exposure Draft proposed that, because profit or loss is the primary source of information about an entity's financial performance for the period, the framework should include a presumption that all income and all expenses will be included in that statement.
The FASB's conceptual framework classifies gains and losses based on whether they are related to an entity's major ongoing or central operations.
Nonoperating are “other” gains and losses.

To learn more about Fasb gain and loss, refer

to brainly.com/question/24448358

#SPJ4

7 0

1 year ago

Younger employees also are more likely to use the Internet and social media to accomplish their tasks. This is an example of the

DaniilM [7]

Answer: Expectation and norms

Explanation: In simple words, expectation refers to the believe that something would happen in the future in a certain way. While norms refers to something that is standard and very probable ion nature.

It is automatically assumed that young employees will use more technology as their generation is the when where the technology gained its pace. Thus, the assumption in the statement shows expectations and norms.

5 0

3 years ago

Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders? (Selec

Murrr4er [49]

Answer:

<u>C. The company has a very poor turnover of assets and collects its receivables quickly; thus there are some concerns from these ratios. D</u>

<u>Explanation:</u>

Let's be mindful that turnover here refers to <em>revenue</em>, while receivables refer to<em> amounts owed to the company</em>. So, If the company has a very poor turnover of assets it means it isn't making much revenue, and it is collecting its receivables quickly implying there are some concerns (imbalances) from these ratios.

Therefore, the managers of Tyler Toys or the shareholders need to work out a solution.

4 0

3 years ago

At December 31, 2011 the accounting records of Gordon, Inc. contain the following items: If the Notes Payable is $10,000, the De

Vadim26 [7]

The question is incomplete. The complete question is as follows,

At December 31, 2011 the accounting records of Gordon, Inc. contain the following items:

Accounts Payable 2500

Land 30000

Building 31250

Notes Payable ?

Retained earnings 125000

Accounts Receivable 18750

Cash ?

Equipment 40000

Capital Stock 12500

If the Notes Payable is $10,000, the December 31, 2011 cash balance is:

Answer:

Cash = $30000

Explanation:

The accounting equation states that the sum of total assets is always equal to the sum of total liabilities plus total equity. We can state the equation as follows,

Total Assets = Total Liabilities + Total Equity

So,

(30000 + 31250 + 18750 + 40000 + Cash) = (2500 + 10000) + (125000 + 12500)

120000 + Cash = 12500 + 137500

Cash = 150000 - 120000

Cash = $30000

6 0

3 years ago