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3 years ago

Embezzlement is distinguished from fraud on the basis of:

1 answer:

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Embezzlement happens when somebody depended with property deceitfully changes over it, keeps it for their own utilization. Theft is recognized from extortion on the premise of when the criminal purpose was framed.

Embezzlement once in a while includes distortion of records keeping in mind the end goal to hide the action. Thieves regularly discharge generally little sums more than once, in an efficient as well as deliberate way, finished a drawn out stretch of time, albeit a few thieves mystery one extensive aggregate at once.Some extremely effective theft plans have proceeded for a long time before being recognized because of the expertise of the thief in covering the idea of the exchanges or their aptitude in picking up the trust and certainty of speculators or customers, who are then hesitant to "test" the thief's reliability by driving a withdrawal of assets.

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Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following sto

algol [13]

Answer:

Find the requirement below:

1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2. Prepare the stockholders’ equity section as it should be reported on the year-end balance sheet. (Amounts to be deducted should be indicated by a minus sign.)

First issue of shares:

Dr Cash $197,200

Cr Common stock $98,600

Cr Paid-in capital in excess of par $98,600

Second issue of shares:

Dr Cash $85,800

Cr Common stock $37,400

Cr Paid-in capital in excess of par $48,400

Shareholders equity section:

Common stock ($98,600+$37,400) $136,000

Paid in capital ($98,600+$48,400) $147,000

Retained earnings $7,300

Total shareholders' equity $290,300

Explanation:

First issue of shares:

cash proceeds 5,800*$34=$197,200.00

split into common stock $17*5,800=$98,600.00

paid-in capital in excess of par ($197,200-$98,600)= $98,600.00

second issue of shares:

cash proceeds 2,200*$39=$ 85,800.00

split into common stock $17*2200=$ 37,400.00

paid-in capital in excess of par ($85,800-$37,400)= $48,400.00

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2 years ago

The following cost data relate to the manufacturing activities of Chang Company during the just completed year:

Elza [17]

Answer:

Amount of underapplied or overapplied overhead cost for the year

$97000 - Underapplied

Schedule of cost of goods manufactured for the year

Direct Material 3885000

Direct Labor 60000

Overheads 376000

Total Manufacturing Costs 4321000

Add Opening Inventory WIP 400000

Less Closing Inventory WIP (700000)

Cost of Goods Manufactured 4021000

Explanation:

Amount of underapplied or overapplied overhead cost for the year

Underapplied or Overapplied overhead cost =Actual Overhead - Applied Overhead

$473000-$376000= $ 97000

Schedule of cost of goods manufactured for the year

<em>Direct Materials Calculation </em>

Opening 200000

Add Purchases 4000000

Available 4200000

Less Closing Material 300000

Materials Consumed 3900000

Less Indirect Materials 15000

Direct Materials Consumed 3885000

8 0

2 years ago

Read 2 more answers

If a competitive firm can sell a bushel of soybeans for $25 and it has an average variable cost of $24 per bushel and the margin

Liula [17]

Answer: reduce output.

Explanation:

In a competitive market, firms do not have control over the price that they sell their goods in the market but they do have control over their costs. It is recommended to produce/ sell goods at a quantity where Marginal Revenue will equal Marginal cost (MR = MC).

In a Competitive Market, Price is the same as Marginal revenue which means that Marginal revenue here is $25 and the Marginal Cost is $26. At this quantity of output, the Marginal Cost is larger than the Marginal revenue.

Company should therefore reduce output to a quantity where Marginal Cost will equal Marginal revenue.

6 0

2 years ago

Northwood Company manufactures basketballs. The company has a ball that sells for S25. At present, the ball is manufactured in a

Maksim231197 [3]

Answer:

1A. Compute the CM ratio and the break-even point in balls.

CM ratio = 2.5
break even point = 21,000 balls

1B. Compute the degree of operating leverage at last year.

31.82%

2. Due to an increase in labor rates, the company estimates that variable expenses will increase by $3 per ball next year. If this change takes place and the selling price per ball remains constant at $25, what will be the new CM ratio and break-even point in balls?

CM ratio = 3.57
break even point = 30,000 balls

3. Refer to the data in (2) above. If the expected change in variable expenses takes place, how many balls will have to be sold next year to earn the same net operating income, $90,000, last year?

42,858 balls

4. The president feels that the company must raise the selling price of its basketballs. If Northwood Company wants to maintain the same CM ratio as last year, what selling price per ball must it charge next year to cover the increased labor costs?

new price of $28 per ball

5. The company is discussing the construction of a new, automated manufacturing plant. The new plant would slash variable expenses per ball by 40%, but it would cause fixed expenses per year to double. If the new plant is built, what would be the company's new CM ratio and new break-even point in balls?

CM = 1.32
26,250 balls

6.a. If the new plant is built, how many balls will have to be sold next year to earn the same net operating income, $90,000, as last year?

31,875 balls

6.b. Assume the new plant is built and that next year the company manufactures and sells 30,000 balls (the same number as sold last year). Prepare a contribution format income statement and compute the degree of operating leverage.

Income Statement

Total revenue $750,000

Variable expenses <u>($270,000) </u>

Contribution margin $480,000

Fixed expenses <u>($420,000 )</u>

Net operating income $60,000

Degree of operating leverage = 60.87%

6.c. If you were a member of top management, would you have been in favor of constructing the new plant?

If you cannot avoid paying the salary raise, then the company needs to carry on the new plant project.

Explanation:

sales price per ball = $25

variable expenses: $15 per unit

direct labor $9
other variable costs $6

CM ratio = net sales / CM = $750,000 / $300,000 = 2.5

break even point = total fixed costs / CM per unit = $210,000 / $10 = 21,000 balls

degree of operating leverage = fixed costs / total costs = $210,000 / $660,000 = 31.82%

new CM ratio = net sales / CM = $750,000 / $210,000 = 3.57

break even point = total fixed costs / CM per unit = $210,000 / $7 = 30,000 balls

sales level for $90,000 profit = ($210,000 + $90,000) / $7 = 42,857.14 ≈ 42,858 balls

CM ratio (new plant) = net sales / CM = $750,000 / $570,000 = 1.32

break even point = total fixed costs / CM per unit = $420,000 / $16 = 26,250 balls

sales level for $90,000 profit = ($420,000 + $90,000) / $16 = 31,875 balls

8 0

3 years ago

Scheduled and unscheduled injuries are categories used to determine benefits for which type of disability income?

hjlf

Answer:

Permanent partial disability

<h3>What is permanent partial Disability?</h3>

Permanent Partial Disability — a worker's compensation disability level in which the injured employee is still able to work but not with the skill and efficiency demonstrated prior to the injury.
As a result, the earning capability of the worker is affected.

To learn about Permanent partial disability, refer

to brainly.com/question/25689052

#SPJ4

4 0

1 year ago