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Shkiper50 [21]
3 years ago
14

Is it true savings vehicles are never insured

Business
1 answer:
enyata [817]3 years ago
7 0
No it is not true savings vehicles can be insured.
You might be interested in
Froya Fabrikker A/S of Bergen, Norway, Is a small company that manufactures specialty heavy equipment for use In North Sea oil f
solmaris [256]

Answer:

1) JOURNAL ENTRIES

a) Debit Material Account $290,000 Credit Accounts Payable $290,000

b) Debit Work in process $ 275,000 Credit Material Account $275000

c) Debit Factory overheads $69300, Debit Selling and admin (utility expense) $7,700 Credit Accounts Payable $77,000

d) Debit Work in process $320,000 Debit Factory overheads $108,000

Credit Salary and wages Payable $428,000

e) Debit Factory overheads $72,000 Credit Accounts payable $72,000

f) Debit Selling and admin expense (Advertising) $154,000 Credit Accounts payable $154,000

g) Debit Debit depreciation expense $90000 Credit Accumulated depreciation on Factory equipment $67,500 Credit Accumulated depreciation on selling and admin facilities $22,500

h)Debit Factory rent $92000 Debit selling and admin rent $23000 Credit Accounts payable $115000

i) Debit Work in process $417,100 Credit Manufacturing overhead costs $417,100

j) Debit Finished goods $950,000 Credit work in process $950,000

k) Debit Accounts receivables $2,100,000 Credit Revenue $2,100,000

    Debit cost of sales $980,000 Credit Finished goods $980000

2)   DR                                     Raw materials                                        CR

opening bal                48000             work in process                  275000

Accounts payable     290000            balance c/d                         63000

                                  338000                                                         338000

                                            work in process

opening balance             39000          finished goods                   950000

Raw materials                275000          balance c/d                       101100

salaries payable           320000

applied overheads      417100                                                        

                                    1051100                                                       1051100

                                           finished goods

opening balance             78000            cost of sales                  980000

work in process             950000           balance c/d                   48000

                                      1028000                                                1028000

                                            Manufacturing overheads

accounts payable                  69300            work in process    417100

salaries payable                    108000

accounts payable                  72000

depreciation                          67500

Accounts payable                92000

cost of sales (over)              8300

                                            417100                                                  417100

                            selling and admin overheads

Accounts payable                 7700           Profit and loss account    207200

Accounts payable               154000

Depreciation                        22500

Accounts payable               23000

                                            207200                                                     207200

                Accumulated depreciation on Factory equipment

         balance c/d   67500                    depreciation                             67500

               Accumulated Depreciation on selling and admin facilities

balance c/d      22500                 depreciation                                 22500

                                      Accounts payable

             balance c/d         638700   raw materials                     290000

                                                        accounts payable                  69300

                                                        accounts payable                  72000

                                                        Accounts payable                92000

                                                        Accounts payable                 7700

                                                       Accounts payable               154000

                                                       Accounts payable               23000

                                       638700                                                      638700

                                         cost of sale

Finished goods         980000                  manufacturing overheads 8300

                                                                  trading account               971700

                                 980000                                                             980000

                                                 sales

trading account                2100000        Accounts receivable          2100000

                                            trading account

cost of sales              971700             sales                       2100000

 gross profit             1128300

3) cost of goods manufactured

direct material                             275000

Direct labor                                 320000

applied overheads                     417100  

cost of goods manufactured  <u>1012100</u>

4a)  Debit Manufacturing overhead 8300 Credit cost of sales 8300

4b)  finished goods

opening                78000

work in process      950000

closing goods         48000

Cost of goods sold  <u> 980000</u>

5)INCOME STATEMENT

SALES                                                                         2100000

COST OF SALES                                                          -971700

gross profit                                                                  1128300

selling and admin costs                                            -207200

Net income                                                                $921100

Explanation:

5 0
3 years ago
A successful organization can involve its employees in the control system in all of the following ways EXCEPT
stiks02 [169]

D) regulating its behavior; involving employees in the control system is good for an organization but except in regulating its behavior.

More about Organizational Control System:

Organizational control system is crucial to understanding how the organization is doing, spotting problem areas, and then taking the necessary action.

There are three basic types of control systems available to executives:

Output control : The focus of output control is on quantifiable results for the organization. In output control, executives must choose the acceptable performance threshold, inform staff members of the general expectations, monitor whether performance metrics are in line with targets, and make any necessary adjustments.

Behavioral control: In contrast to output control, which focuses on results, behavioral control typically focuses on controlling the activities. Particularly, special procedures and regulations are utilized to shape or impose behavior.

Clan control: Clan control is a non-standardized type of control. It depends on shared traditions, expectations, values, and norms.

Complete Question:

A successful organization can involve its employees in the control system in all of the following ways EXCEPT

A) setting realistic performance results.

B) emphasizing development and improvement.

C) encouraging good communication and mutual participation.

D) regulating its behavior.

E) presenting data in understandable terms.

Learn more about Control System here:

brainly.com/question/26695325

#SPJ1

8 0
1 year ago
You bought a stock one year ago for $51.41 per share and sold it today for $59.82 per share. It paid a $1.03 per share dividend
RideAnS [48]

Answer:

Return from dividend yield= 2.0%

Capital gain = 16.4%

Explanation:

The return on a stock is the sum of the capital gains(loss) plus the dividends earned.

<em>Capital gain is the difference between the value of the stocks when sold and the cost of the shares when purchased. </em>

Total shareholders Return =  

(Capital gain/ loss + dividend )/purchase price × 100

The total return can be broken down into

<em>Dividend yield = Dividend/price × 100</em>

= 1.03/51.41 × 100

=2.0%

<em>Capital gain = capital gain/ price  × 100</em>

= (59.82 - 51.41)/51.41 × 100 = 16.4%

8 0
2 years ago
Senior management at jmj manufacturing accept that there are differences and similarities between host country and home country
Bumek [7]

This reflects​ geocentric attitude.

The World Trade Organization (WTO) is the only global international organization addressing manufacturing the principles of trade between nations. The North American trade Agreement (NAFTA) was implemented to market trade between the U.S., Canada, and Mexico.

A company's employees, managers and board of directors compose a business's internal stakeholders. Employees of the manufacturing corporation are invested within the company's performance to make sure they still be paid and retain their jobs.

The Agreement Establishing the WTO recognizes the necessity for positive efforts to make sure that developing countries, and particularly those who are least-developed, share within the growth of international trade.

They make it easier for nations to try and do business. They increase product choices for consumers. They prevent two nations from exchanging manufacturing  goods. Better risk management. One among the many advantages of international trade is market diversification.

learn more about manufacturing: brainly.com/question/19584679

#SPJ4

7 0
1 year ago
here are seven firms in the automobile industry. The market shares of the firms are 34​ percent, 21​ percent, 17​ percent, 9​ pe
Lemur [1.5K]

Answer:

The answer is  "Option 4".

Explanation:

The Herfindahl-Hirschman Index formula:

HHI=s_{12} + s_{22}  + s_{32} + s_{42} +........ + s_{n2}

here sn is the firm n's share of the market proportion represented the society in general number instead of a decimal

Index Herfindahl-Hirschman:

= (34)^2 + (21)^2 + (17)^2 + 92 + 82 + 62 + 52\\\\= 1156 + 441 + 289 + 81 + 64 + 36 + 25\\\\= 2092

Index Herfindahl-Hirschman(Result of the merger, firms with profit margins of 6% and 5% provided market shares of respectively).

= (34)^2 + (21)^2 + (17)^2 + 92 + 82 + 112\\\\= 1156 + 441 + 289 + 81 + 64 + 36 + 121\\\\= 2188

The market with just an HHI of less than 1,500 is called a competitive industry, one on an HHI of 1,500 to 2,500 is called a moderately competitive store, and one on an HHI of 2,500 or higher is considered a highly potent store by us Justice department.

All businesses operate in a moderately crowded market, as well as a merger such as this reduces competition (increases chances of monopoly). Also as result, the Justice Dept may examine its merger but will most likely deny this because the Herfindahl-Hirschman index has risen.

8 0
3 years ago
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