When a company gains a competitive advantage over an action that becomes mandatory in the line of business, such as providing package tracking capability, this is an example of profitability factors becoming productivity factors over time.
<h3 /><h3>What are profitability factors?</h3>
It corresponds to factors that enable a company to be positioned and competitive in the market in which it operates, determined by internal and external agents, such as:
- Demand force
- Advertsing
- Substitute products
- Economy of scale
- Costs
Therefore, an organization's profitability factors became productivity factors by instituting new forms of work management that generated competitive advantages for the organization.
So, the correct answer is:
D. Profitability factors; productivity factors.
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Answer:
Upon issuance, Ozark should "<em>Credit premium on bonds payable $100,000</em>"
Explanation:
Issue price of bond is ($10 million * $101) = $10,100,000
The face value of the bond = $10,000,000
The premium on bond = $10,100,000 - $10,000,000
The premium on bond = $100,000
Journal entry
Debit Credit
Cash $10,100,000
Premium on bonds payable $100,000
Bonds payable $10,000,000
Conclusion: Upon issuance, Ozark should "Credit premium on bonds payable $100,000"
Explanation:
The journal entries are as follows
a. Retained earnings A/c Dr $300,000 (600,000 shares × $0.50)
To Dividend payable A/c $300,000
(Being the dividend is declared)
b. No journal entry is required
c. Dividend payable A/c $300,000
To Cash A/c $300,000
(Being the dividend is paid for cash is recorded)
Answer:
1. Journal entries are quicker and more comfortable in the manual accounting
2. Posting is easier in computer software-based accounting
3. Trial balance adjustment in manual accounting is tricky. However, a lengthy process may pose a challenge for computerized accounting.
4. Financial statements are more straightforward in software-based accounting than manual accounting
Explanation:
The introduction of accounting software such as QuickBooks has transformed the working for accounting professionals. The conventional accounting system replacement has made the job more comfortable. However, there are new challenges added, such as learning the software, making error-free inputs, and pace of computer-related entries. However, considering that once these skills are learned, the overall job is easier than before.
1. Journal entries in manual are made quicker, and errors can be rectified. However, entries are linked automatically to their respective ledgers that solve the challenges with compound entries
2. Posting is simpler in software as the general ledger is created on a single click. Manual posting requires time and efforts
3. Adjusted entries need to manual input in conventional method to create the adjusted trial balance whereas, in software, its added through adjusting journal entries.
4. Financial statements are much more straightforward in software as they are available on one click, whereas in manual accounting, they are required to be calculated.
Answer:
C. Assets are understated
Explanation:
In terms of IAS 2, Inventory cost include, the <em>purchase cost</em> , <em>conversion cost</em> and all <em>other costs directly related</em> to bringing the inventory in the correct location and condition intended for sale by the company.
The Company has not included <em>shipping costs</em> of $100 to inventory cost, hence inventory is understated and consequently this overstates the <em>cost of goods sold</em> and understate the Inventory , gross profit and net income by $100
Selling Expenses have been accounted for in error, therefore<em> Operating Expenses</em> are Overstated and <em>Net Income</em> understated by $100
