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algol13
3 years ago
8

Angela has been working for a local small business called Personal Wellness for the last three years. It is a retail business th

at sells sporting goods equipment. When she started to work there, she noticed several things that were possibly the cause of the business not doing as well as it hoped. Angela has been thinking of starting her own small business because she feels she has learned much through working for Personal Wellness.Angela's manager asked her to create a business plan for Personal Wellness. The manager hoped that this plan would put things into perspective to help the company do better. After creating the plan, Angela suggested that Personal Wellness contact a group of senior and graduate students to provide management counseling for the company. Angela wants to make sure that her leaving does not become the cause of the company going under.In preparing the business plan, Angela would have incorporated all of these components except____
(A) a pany and industry descriptions.
(B) an exit strategy.
(C) government regulations.
(D) benefits to the community.
(E) a marketing plan.
Business
1 answer:
GarryVolchara [31]3 years ago
3 0

Answer:

Government regulations.

Explanation:

Government regulations is a law that controls the way that a business can operate, or all of these laws considered together

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A donor gave equipment valued at $90,000 at the beginning of 2020 to a private not-for-profit organization. The equipment had a
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The net asset would be $81,000 or $0 depending upon the policy of the Non-Profit Organization.

<h3><u>What is a Non-Profit Organization?</u></h3>
  • A non-profit organization is a group that was established with the intention of making a profit, and in which no part of the organization's revenue is given to its directors, officials, or members.
  • "Non-stock corporations" are a common moniker for nonprofit organizations.
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  • When they are established, nonprofit organizations must declare themselves to be so and are only allowed to work on projects that fall under their legal definition.

The value of the equipment given by the donor = $90,000

The charge of depreciation = $9,000.

The total assets of a business less the total liabilities equals the entity's net assets. The sum of a company's net assets equals its stockholders' equity in whole. Net assets are divided into unrestricted and restricted net assets of a nonprofit organization.

The net asset would be either $81,000 or $0.

Know more about Non-Profit Organization with the help of the given link:

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5 0
2 years ago
What is financial literature​
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The knowledge that an individual could attain from financial literacy could help them in the long run, in which it's highly recommended to learn financial literacy, due to the fact that tons of people are going into debt because they don't know how to manage their finances.

To sum it up, people who know financial literacy would have a high chance in knowing how to manage their money and stay out of debt.

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8 0
3 years ago
Working regular hours is a drawback of being a wage earner ..... true or false
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Yes it is true because those who work their hours or even want more hours are those who are a wage earner. You’ve earned it since you’ve been doing your job like a responsible person and that’s what the company likes
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3 years ago
Read 2 more answers
Yi Min started an engineering firm called Min Engineering. He began operations and completed seven transactions in May, which in
otez555 [7]

Answer:

                                  Trial Balance

Items                                     Group             Debit ($)    Credit ($)

Cash                                      Asset               37641

Office Supplies                     Asset               890

Prepaid Insurance                Asset               4600  

Office Equipment                 Asset               12900

Accounts Payable                Liability                                12900

Capital                                   Equity                                  18000

Withdrawals                          Equity              3329  

Engineering Fees earned    Revenue                              36000

Rent Expense                        Expense         <u>7540</u>           <u>            </u>

Total                                                               <u>$66900</u>      <u>$66900</u>

6 0
3 years ago
Forest Components makes aircraft parts. The following transactions occurred in July. Purchased $16,950 of materials on account.
horrorfan [7]

Answer:

Forest Components

Journal Entries:

1. Debit Materials Inventory $16,950

Credit Accounts Payable $16,950

To record the purchase of materials on account.

2. Debit Work in Process Inventory $16,780

Credit Materials Inventory $16,780

To record the issue of materials to the production department.

3. Debit Manufacturing Overhead $1,340

Credit Materials Inventory $1,340

To record the issue of materials to the service department.

4. Debit Accounts Payable $16,950

Credit Cash Account $16,950

To record the payment for the materials purchased on account.

5. Debit Materials Inventory $2,020

Credit Work In Process $2,020

To record the record of materials.

6. Debit Work in Process $32,500

Credit Factory Wages $32,500

To record the direct labor cost.

7. Debit Manufacturing Overhead $17,250

Credit Accounts Payable $17,250

To record the purchase of miscellaneous items for the plant.

8. Debit Manufacturing Overhead $36,700

Credit Depreciation Expense $36,700

To record depreciation expense on manufacturing plant.

9. Debit Work In Process $30,875

Credit Manufacturing Overhead $30,875

To apply overhead for the month.

b. T-accounts:

Materials Inventory

Accounts Titles         Debit    Credit

Balance                    $12,320

Accounts Payable   $14,930

Work in Process         2,020

Work in Process Inventory    $16,780

Balance                                  $12,490

Work-in-Process Inventory

Accounts Titles         Debit    Credit

Balance                    $11,755

Materials Inventory   16,780

Materials Inventory                $2,020

Factory Wages        32,500

Overhead                30,875

Finished Goods Inventory    79,330

Balance                                  10,560

Manufacturing Overhead

Accounts Titles                 Debit    Credit

Materials Inventory         $1,340

Accounts Payable           17,250

Depreciation Expense   36,700

Work In Process                         $30,875

Finished Goods Inventory

Accounts Titles         Debit    Credit

Balance                   $2,700

Work in Process     79,330

Cost of goods sold                75,100

Balance                                 $6,930

Cost of Goods Sold

Accounts Titles         Debit    Credit

Finished Goods      75,100

Explanation:

a) Data and Calculations:

Materials Inventory                 ?         $12,490

Work-in-Process Inventory     ?           10,560

Finished Goods Inventory $2,700       6,930

Cost of Goods Sold                ?         75,1000

Predetermined overhead rate = $412,870/$434,600 = $0.95

Overhead applied = $30,875 ($0.95 * $32,500)

5 0
3 years ago
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