Which of these is NOT true about a military training

Wildhorse Corporation factors $266,800 of accounts receivable with Kathleen Battle Financing, Inc. on a with recourse basis. Kat

Blababa [14]

Answer:

Denit Cash for $250,792; Debit Due from factors for $10,672; Debit Loss on Sale of receivables for $9,986; Credit Recourse liability for $4,650; and Credit Accounts receivable for $266,800.

Explanation:

The following are calculated first before preparing the journal entry:

Cash received = Factored amount * (100% - Finance charge percentage - Percentage reserved for probable adjustments) = $266,800 * (100% - 2% - 4%) = $250,792

Due from factors = Factored amount * Percentage reserved for probable adjustments = $266,800 * 4% = $10,672

Loss on Sale of receivables = (Factored amount * Finance charge percentage) + Fair value of recourse liability = ($266,800 * 2%) + $4,650 = $9,986

The journal entry will now appear as follows:

Date Account Titles and Explanation Debit ($) Credit ($)

15 Aug 2014 Cash 250,792

Due from factors 10,672

Loss on Sale of receivables 9,986

Recourse liability 4,650

Accounts receivable 266,800

(To record the sale of receivables.)

5 0

3 years ago

Capitalism is an economic system in which private property, markets, and firms play an important role. Based on this definition,

Nataly [62]

Answer:

Correct Answer:

A. An economic system is a way of organizing the production and distribution of goods and services in an entire economy.

Explanation:

Capitalism, which is an economic system in which a country's trade and industry are controlled by private owners for profit, rather than by the state helps in ensuring the adequate running of the country. It is a method whereby goods and services are organized in an entire economy through private investments and firms.

4 0

4 years ago

The ________ assumes responsibility for monitoring how the contractor is doing in terms of cost, schedule, and technical perform

JulijaS [17]

Business/Financial manager assumes responsibility for monitoring how the contractor is doing in terms of cost, schedule, and technical performance
Before a company start its operation for the year, the executives of that company will determine the budget that seem appropriate for all fo the operations.
The duty of business/financial manager is to make sure that the cost of operations do not exceed that pre-determined budget

5 0

3 years ago

Smart Stream Inc. uses the variable cost concept of applying the cost-plus approach to product pricing. The costs of producing a

olya-2409 [2.1K]

Answer:

Smart Stream Inc.

1. Total variable costs = $2,400,000

2a. Variable cost per unit = $240

2b. The variable cost markup percentage = 12.46%

2c. Selling price per unit = $325

Explanation:

a) Data and Calculations:

Variable costs per unit:

Direct materials $150

Direct labor 25

Factory overhead 40

Selling and administrative expenses 25

Total $240

Fixed costs:

Factory overhead $350,000

Selling and admin. exp. 140,000

Total fixed costs = $490,000

Smart Stream desires a profit equal to a 30% rate of return on invested assets of $1,200,000

Profit target = $360,000 ($1,200,000 * 30%)

Total variable costs = $2,400,000 ($240 * 10,000)

Variable cost per unit = $240

b. The variable cost markup percentage =

Variable cost markup = $360,000 * $2,400,000/$2,890,000 = $298,962

Variable cost markup percentage = $298,962/$2,400,000 * 100 = 12.46%

Fixed cost markup = $360,000 * $490,000/$2,890,000 = $61,038

Total cost = $2,890,000

Target profit 360,000

Total sales revenue = $3,250,000

Selling price = $325 ($3,250,000/10,000)

8 0

3 years ago

Organizations are increasingly using teams for many reasons. The difference between a good team and an outstanding team has been

leonid [27]

Answer:

the way team members treat each other

Explanation:

The main difference between such teams is the way team members treat each other. This is because the most outstanding teams treat each other as friends, this allows each member to want to motivate one another towards their best self. Overall this provides increased work efficiency and innovative results from these teams as opposed to groups that treat each other only as professional colleagues and want to overshadow one another in order to further their own careers.

4 0

3 years ago