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oksian1 [2.3K]
3 years ago
15

Our entrepreneur in problem 4 above is trying to set up a well-organized office filling system that will make it easier (and les

s costly) for the company’s accountant to do their work. The accountant has told the entrepreneur to put all Profit and Loss source documents in one file and all Balance Sheet items in another file. The entrepreneur has made a list of every piece of paper she can think of and a checklist to help get the filing system organized. How would you complete this checklist to get the financial files organized? Answer the following 13 questions to show how you would organize the files for the accountant.
1. Sales receipts
2. Bank statements showing cash in the bank
3. Payrolls from your payroll firm that have bccn paid
4. Receipts for business travel
5. Utility bills paid
6. Orders for supplies that you have 60 days to pay
7. Receipts for major equipment purchases
8. Insurance premiums paid
9. Rent paid for office space
10. Advertising bills paid
11. Bounced checks from customers for prior sales
12. Statement showing balance due on bank loan
13. Credit card statements showing balances due
Business
1 answer:
PIT_PIT [208]3 years ago
7 0

Answer:

Profit and Loss file

Sales receipt

Payrolls from your payroll firm that have been paid

Receipt for business travel

Utility bills paid

Insurance premium paid

Rent paid for office space

Advertising bills paid

Balance sheet file

Bank statement showing cash in the bank

Order for suppliers that you have 60days to pay

Statement showing balance due on bank loan

Credit card statement showing balances due

Bounced checks from customers for prior sales

Explanation:

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Marcus, a manager at Royal Memphis Hotel, is training a new group of employees. After each training session, the employees compl
dybincka [34]

Answer:

feedback

Explanation:

Based on the information provided within the question it can be said that Marcus is providing his employees with feedback. This refers to information given to an individual regarding their performance, and is done in order to help that individual realize what they are doing wrong and how they can improve their performance. Which is exactly what Marcus is doing with his employees.

4 0
3 years ago
A company had the following purchases during its first year of operations: Purchases January: 18 units at $128 February: 28 unit
Archy [21]

Answer:

$8,584

Explanation:

Cost of ending inventory can be calculated by multiplying the remaining units of the given month by their purchase cost in the following month

DATA

Total remaining units n ending inventory = 58 units

10 from January at $128

12 from February at $138

14 from May at $148

12 from September at $158

10 from November at $168

Calculation

January  =  10 x $128       = $1,280

February = 12 x $138        = $1,656

May = 14 x $148                = $2,072

September = 12 x $158     = $1,896

November = 10 x $168      = $1,680

Cost of ending inventory = $8,584

7 0
3 years ago
Which of the following describes how the U.S. government protects and supports farmers and ranchers?
AlexFokin [52]

Answer:

through allowing agribusiness companies to create oligopolies

Explanation:

6 0
2 years ago
Who founded crypto currency in the world​
ohaa [14]

Answer:

☁︎Satoshi Nakamoto's☁︎

Explanation:

Two months later, a paper entitled 'Bitcoin: A Peer-to-Peer Electronic Cash System' was passed around a cryptography mailing list. The paper is the first instance of the mysterious figure, Satoshi Nakamoto's appearance on the web, and permanently links the name "Satoshi Nakamoto" to the cryptocurrency.

7 0
2 years ago
A U.S. treasury bond (selling at a par value of $1,000) that matures at the end of five years is said to have a coupon rate of 6
pav-90 [236]

Answer:

$1,042.04

Explanation:

to calculate the present value using a continuously compounded interest rate, we can use the following 2 formulas:

1) present value = cash flow / eⁿˣ

  • e = 2.71828
  • x = 5% / 2 = 2.5%
  • n = 10
  • cash flow = $1,030

present value = $1,030 / 2.71828¹⁰ˣ⁰°⁰²⁵ = $1,030 / 1.284 = $802.16

2) present value of an annuity = payment [(1 - e⁻ⁿˣ) / (eˣ - 1)]

  • payment = $30
  • x = 2.5%
  • n = 9
  • e = 2.71828

present value = $30 [(1 - 2.71828⁻⁹ˣ⁰°⁰²⁵) / (2.71828⁰°⁰²⁵ - 1)] = $30 [(1 - 2.71828⁻⁹ˣ⁰°⁰²⁵) / (2.71828⁰°⁰²⁵ - 1)] = $30(0.2015 / 0.0252) = $239.88

present value of the stream of cash flows = $802.16 + $239.88 = $1,042.04

7 0
2 years ago
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