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3 years ago

What is the accounting problem that the linbarger company faces?

2 answers:

7 0

The problem that Linbarger company faces is that they do not have enough liquid cash in order to fulfill the promise that they made in their loan contracts.
If this happen, they might be subjected to a breach of contract and the other party has the legal ground to attack Linbarger to the court and potentially close them down.

4vir4ik [10]3 years ago

4 0

The issue that Linbarger organization countenances is that they need more fluid money so as to satisfy the guarantee that they made in their credit contracts.

Further Explanation:

Accounting problem:

A bookkeeping blunder is a non-fake inconsistency in money related documentation. The term is utilized in money related revealing. Sorts of bookkeeping blunders include: Error of exclusion - an exchange that isn't recorded. Mistake of commission - an exchange that is determined mistakenly.

Accounting problem be corrected:

1. Correct all earlier period budget summaries appeared on relative fiscal reports.

2. Restate the starting parity of held profit for the main time frame appeared on a similar proclamation of held income if the blunder is before the primary near period.

Five Common Accounting Mistakes and How to Avoid Them:

1. Timely Reconciliations. Accommodating asset report accounts, for example, bank and charge card accounts, at any rate month to month is essential to an independent venture's prosperity.

2. Data Entry Errors.

3. Lack Of Documentation Procedures.

4. Procrastination.

5. Not Seeking Help When Needed.

Subject: business

Level: college

Keywords: Accounting problem, Accounting problem be corrected, Five Common Accounting Mistakes and How to Avoid Them.

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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The

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Answer:

$2,880

Explanation:

Given that,

Total machine-hours = 30,300

Total fixed manufacturing overhead cost = $ 575,700

Variable manufacturing overhead per machine-hour = $ 4.00

For Job T687:

Number of units in the job = 10

Total machine-hours = 30

Direct materials = $730

Direct labor cost = $1,460

Total variable overhead estimated:

= Variable manufacturing overhead per machine-hour × Total machine-hours

= $4 × 30,300

= $121,200

Total overhead estimated:

= Total variable overhead estimated + Total fixed overhead estimated

= $121,200 + $575,700

= $696,900

Predetermined overhead rate:

= Total overhead estimated ÷ Total machine-hours

= $696,900 ÷ 30,300

= $23 per machine hour

Total overhead applied:

= predetermined overhead rate × Total machine hours for Job T687

= $23 × 30

= $690

Total job cost:

= Direct material + Direct labor + Total overhead

= $730 + $1,460 + $690

= $2,880

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3 years ago

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anastassius [24]

I think the answer is c for this question tbh well yah

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3 years ago

Devon invested $10,500 in three different mutual funds. A fund containing large cap stocks made a 6.7% return in 1 yr. A real es

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Answer:

Amount invested in a fund containing large cap stocks = $6,000

Amount invested in a real estate fund = $1,500

Amount invested in a bond fund = $3,000

Explanation:

Let:

x = Amount invested in a fund containing large cap stocks = 4 * y = 4y

y = Amount invested in a real estate fund

z = Amount invested in a bond fund =

For total amount invested, we have:

T = total amount invested = x + y + z = $10,500

Therefore, we have:

4y + y + z = $10,500

5y + z = $10,500 ……………………….. (1)

From equation (1), we have:

z = 10,500 - 5y …………………….(2)

Also, for the net returns, we have:

6.7%x - 15.6%y + 4.9%z = $315

0.067(4y) - 0.156y + 0.049z = 315

0.268y - 0.156y + 0.049z = 315

0.112y + 0.049z = 315 ………………… (3)

Substitute equation (2) for z in equation (3), we have:

0.112y + 0.049(10,500 - 5y) = 315

0.112y + 514.50 - 0.245y = 315

0.112y - 0.245y = 315 - 514.50

-0.133y = -199.50

y = -199.5 / -0.133

y = 1,500

x = 4y = 4 * 1,500 = 6,000

From equation (2), we have:

z = 10,500 - 5y = 10,500 - (5 * 1,500) = 3,000

Therefore, we have:

Amount invested in a fund containing large cap stocks = $6,000

Amount invested in a real estate fund = $1,500

Amount invested in a bond fund = $3,000

Checking this, we have:

Total amount invested = $6,000 + $1,500 + $3,000 = $10,500

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Answer:

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Explanation:

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Margarita [4]

The largest share of the revenues from property taxes and sales and gross receipts taxes are generally received from state and local governments. Individual income taxes are another major source of income.

Explanation:

In fiscal 2010 the total US government and local tax revenues—35% came from property taxes and 34% from sales and gross taxes. In 2010, local governments collected a little more than 75% of their 2010 property tax receipts. Local government tax revenues are primarily financed by property taxes.

Nevertheless, sales taxes and gross income taxes were the major source of revenue for governments. In 2010, the Member States received less than half of their income from sales and gross receipts taxes.

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