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professor190 [17]
3 years ago
9

The new employee at Cork Manufacturing reported tp work and the employee reviewed the following information that was audited by

the CPA:
Cork Manufacturing
Consolidated Balance Sheet Worksheet
December 31, 20XX

Assets Total:

Cash.................................................................$600,000
Notes receivable.....................................$750,000
Investment company A.......................$800,000
Other assets................................................$900,000
Total assets.............................................$3,050,000

Liabilities and Equities

Accounts payable...............................$25,000
Notes payable.....................................$100,000
Common stock....................................$1,000,000
Retained earnings..............................$1,925,000
Total liabilities and equities.............$3,050,000

Note to Accountant: This statement was prepared in accordance to GAAP


Which of the following described the role of the new employee
a) Managerial accountant
b) Financial accountant
c) CEO
d) Manager—financial analysis
Business
1 answer:
dexar [7]3 years ago
3 0

Answer:

The correct answer is D

Explanation:

In this case, the new employee who reported to work, was given the responsibility to perform the review of the information on the balance sheet which was audited by the CPA.

So, here the role of new employee is described as the manager- financial analysis, who is responsible for the financial health of the organization or business, reviewing the financial data as well.

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A customer paid $250 using a check for purchases made in the first week of January. The bank statement received at the end of th
vodka [1.7K]

Answer:

Credit to cash for 250

Explanation:

As in the question it is given that the customer is paid for $250 for purchase made in the first week of January.

And, in the bank statement it is shown that it was a NSF check.

Now the adjusting the company cash balance for reconciling the item would include a credit for cash for $250 so that the balance should be equaled

3 0
3 years ago
According to the readings in Module 1, because middle managers fill structural holes in healthcare organizations, they may bridg
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Answer:

True.

Explanation:

Middle managers not been well recognised in the health care industry and their role in implementation of healthcare innovation.

There is a gap between practice and ploicies,, and this is as a result of poor implementation.

Moddleanagers play an important role of supplying the employees with information of management expectations along with ways in which implementation of policies can be effectively done.

On the other hand they also act as channels for feedback to management so that they will know how to adjust policies that are not meetings the set objectives.

8 0
3 years ago
Which of the answer choices shows the correct punctuation? if managers don't prepare for international business trips, by learni
Mandarinka [93]

The correct use is:

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5 0
3 years ago
Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (10,000
ivann1987 [24]

Answer:

See explanation section.

Explanation:

Requirement 1

New sales volume after increasing 100 units = (10,000 + 100) = 10,100 units. The revised net operating income is calculated as follows

                           Whirly Corporation’s

               Contribution format income statement

               For the year ended December 31 20YY

Sales Revenue (10,100 × 35) = 353,500 (Note - 1)

Less: Variable expense (10,100 × 20) = 202,000 (Note - 2)

Contribution Margin = $151,500

Less: Fixed Expense  $135,000

Net Operating Income $16,500

Note 1: Sale price per unit $350,000 ÷ 10,000 = $35

Note 2: Variable expense per unit $200,000 ÷ 10,000 = $20

Requirement 2

From requirement 1 we get,

Sale price per unit = $35

Variable expense per unit = $20

New sales volume after decreasing 100 units = (10,000 - 100) = 9,900 units. The revised net operating income is calculated as follows

                            Whirly Corporation’s

               Contribution format income statement

               For the year ended December 31 20YY

Sales Revenue (9,900 × 35) = 346,500

Less: Variable expense (9,900 × 20) = 198,000

Contribution Margin = $148,500

Less: Fixed Expense  $135,000

Net Operating Income $13,500

Requirement 3

From requirement 1 we get

Sale price per unit = $35

Variable expense per unit = $20

If the sales volume is 9,000 units, the revised net operating income is calculated as follows

                         Whirly Corporation’s

               Contribution format income statement

               For the year ended December 31 20YY

Sales Revenue (9,000 × 35) = $315,000

Less: Variable expense (9,000 × 20) = $180,000

Contribution Margin = $135,000

Less: Fixed Expense  $135,000

Net Operating Income           $0

If the company sells 9000 units, there will be no loss, no profit.

8 0
3 years ago
On December 31, 20X5, Paris Corporation acquired 60 percent of Sanlo Company's common stock for $180,000. At that date, the fair
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Answer:

1. b. $15,000

2. a. $13,200

Explanation:

a. Fair Value of Consideration $180,000

Non Controlling Interest $120,000

Differential in value of Sanlo $45,000

Good will = $15,000

b. Value of Equipment = $10,000 / 5 = $2,000

$2,000 * 60% = $1,200

Value of land = $15,000 * 60% = $9,000

Value of Sanlo's Inventory = $5,000 * 60% = $3,000

Total value amortize using equity method is $13,200

7 0
3 years ago
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