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3 years ago

The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:

Business

1 answer:

Lera25 [3.4K]3 years ago

4 0

Solution and Explanation:

The following journal entries will be passed in the book sof fasteners Inc., Co., which is a supplier of buttons and zippers for clothing

Date Accounts Titles and Explanation Post Ref Debit Credit

1 Nov-21 Notes receivable $ 72,000

Accounts receivable-McKenna Outer Wear Co. $ 72,000

2 Dec-31 Interest receivable $(72000 * 9 \% * 40 / 360)$ $720

Interest revenue $ 320

3 Jan-20 Cash $ 73080

Interest revenue $(72000 * 9 \% * 20 / 360)$ $360

Interest receivable $720

Notes receivable $72,000

Note: the figures have been calculated and rounded off in the nearest dollar amount.

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Delicious77 [7]

Answer:

diversification

Explanation:

According to my research on ,different financial strategies I can say that based on the information provided within the question this is an example of diversification. This is the process of a business separating or varying it's range of products in their operations in order to reduce their risks in a certain market.

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3 years ago

Belmain Co. expects to maintain the same inventories at the end of 20Y7 as at the beginning of the year. The total of all produc

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Answer:

Part a 

Belmain Co.

Estimated Income statement for the year ended 2017.

Sales ($240 x 12,000) $2,880,000

Less Variable Costs :

Direct Materials ($50.00 x 12,000) ($600,000)

Direct Labor ($30.00 x 12,000) ($360,000)

Factory Overheads ($6.00 x 12,000) ($72,000)

Sales Salaries and Commissions ( $4.00 x 12,000) ($48,000)

Miscellaneous selling expenses ( $1.00 x 12,000) ($12,000)

Supplies ($4.00 x 12,000) ($48,000)

Miscellaneous administrative expenses ($1.00 x 12,000) ($12,000)

Contribution $1,728,000

Less Fixed Expenses :

Factory overhead ($350,000)

Sales salaries and commissions ($340,000)

Advertising ($116,000)

Travel ($4,000)

Miscellaneous selling expense ($2,300)

Office and officers’ salaries ($325,000)

Supplies ($6,000)

Miscellaneous administrative expense ($8,700)

Net Income ( Loss) $576,000

Part b

0.6 or 60 %

Part c

Break-even sales (units) = 8,000

Break-even sales (dollars) = $1,920,000

Part d

See attachment

Part e

Margin of safety in dollars = $960,000

Margin of safety in percentage = 33.3 %

Part f

Operating Leverage = 3.00

Explanation:

Income Statement :

Sales - Expenses = Income

Note : I have separated Variable and Fixed Expenses

Contribution Margin ratio :

Contribution Margin ratio = Contribution ÷ Sales

= $1,728,000 ÷ $2,880,000

= 0.6 or 60 %

Break-even sales ( units and dollars) :

Break-even sales (units) = Fixed Costs ÷ Contribution per unit

= $1,152,000 ÷ $144.00

= 8,000

Break-even sales (dollars) = Fixed Costs ÷ Contribution margin ratio

= $1,152,000 ÷ 0.60

= $1,920,000

Margin of safety in dollars and as a percentage of sales :

Margin of safety in dollars = Expected Sales (dollars) - Break-even sales (dollars)

= $2,880,000 - $1,920,000

= $960,000

Margin of safety in % = (Expected Sales - Break-even sales ) ÷ Expected Sales

= $960,000 ÷ $2,880,000

= 33.3 %

Operating leverage

Operating Leverage = Contribution ÷ Earnings Before Interest and Tax

= $1,728,000 ÷ $576,000

= 3.00

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2 years ago

What do you call collections of stocks and bonds that are traded on securities exchanges but themselves are traded more like ind

Kamila [148]

Collections of stocks and bonds that are traded on securities exchanges but themselves are traded more like individual stocks than mutual funds?

The correct answer is an exchange-traded fund (ETF)

<h3>What are exchange-traded funds?</h3>

ETFs, or "Exchange Traded Funds," as the name implies, are funds that trade in exchange-traded funds and typically track a particular index. Investing in ETFs gives you a bundle of assets that you can buy and sell during market hours. It has the potential to reduce risk and exposure while helping to diversify the portfolio.

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2 years ago

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Answer:

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Explanation:

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2 years ago

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Answer:

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3 years ago