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3 years ago

4. Discuss four sources of financing for starting up a small business.

Business

1 answer:

Karolina [17]3 years ago

6 0

LENDING REDEFINED

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Hope this helps!!!

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One item is omitted in each of the following summaries of balance sheet and income statement data for the following four differe

VARVARA [1.3K]

Answer:

Carbon Krypton Fluorine Radium

Beginning of the year:

Assets $333,000 $250,000 $100,000 $268,000

Liabilities 118,000 130,000 76,000 120,000

Equity at the beginning $215,000 $120,000 $24,000 $148,000

End of the year:Assets 495,000 350,000 90,000 248,000

Liabilities 160,000 110,000 80,000 136,000

Equity at the end of the year $335,000 $240,000 $10,000 $112,000

During the year:

Additional capital stock 76,500 50,000 10,000 40,000

Dividends 7,500 16,000 16,500 60,000

Revenue 90,000 150,000 115,000 112,000

Expenses 39,000 64,000 122,500 128,000

Net income $51,000 $86,000 ($7,500) ($16,000)

Explanation:

a) Data and Calculations:

Carbon Krypton Fluorine Radium

Beginning of the year:

Assets $333,000 $250,000 $100,000 $268,000

Liabilities 118,000 130,000 76,000 120,000

Equity at the beginning $215,000 $120,000 $24,000 $148,000

End of the year:Assets 495,000 350,000 90,000 248,000

Liabilities 160,000 110,000 80,000 136,000

Equity at the end of the year $335,000 $240,000 $10,000 $112,000

During the year:

Additional capital stock 76,500 50,000 10,000 40,000

Dividends 7,500 16,000 16,500 60,000

Revenue 90,000 150,000 115,000 112,000

Expenses 39,000 64,000 122,500 128,000

Net income $51,000 $86,000 ($7,500) ($16,000)

Formulas for finding the missing items:

1. Equity at the end = Equity at the beginning + Additional capital + Net Income - Dividends

2. Net Income = Revenue - Expenses

3. Equity = Assets - Liabilities

7 0

3 years ago

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one uni

Bond [772]

Answer:

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

Explanation:

Provided information we have,

Direct Materials

Standard Quantity = 4.6 pounds

Standard Rate = $2.50 per pound

Direct Labor

Standard Hours = 0.2 hour per unit

Standard Rate = $18 per hour

Actual Materials

Actual Quantity = 20,000 pounds

Actual Rate = $2.35 per pound

Actual Labor

Labor Hours = 750 hours

Labor Cost = $14,925

Labor rate = $\frac{14,925}{750} = $19.9 per hour$

Actual Units produced = 4,000

1. Material Variances

$Material\ Price\ Variance = (Standard\ Price - Actual\ Price) \times Actual\ Units$

= ($2.50 - $2.35) $\times$ 20,000 pounds

= $3,000

As the actual rate is less than standard rate the variance is favorable.

$Material\:Quantity\ Variance = (Standard\ Quantity - Actual\ Quantity) \times Standard\ Rate$

Standard Quantity = 4,000 $\times$ 4.6 = 18,400 pounds

Material Quantity Variance = (18,400 - 20,000) $\times$ $2.50

= - $4,000

As the actual raw material quantity used is higher than standard raw material quantity the variance is unfavorable.

2. Labor Variances

$Labor\ Rate\ Variance = (Standard\ Rate - Actual\ Rate) \times Actual\ Hours$

= ($18 - $19.9) $\times$ 750 = - $1,425

As actual rate is higher than standard rate thus the variance is unfavorable.

$Labor\ Efficiency\ Variance = (Standard\ Hours - Actual\ Hours) \times Standard\ Rate$

Standard Hours = 4,000 $\times$ 0.2 = 800

Labor Efficiency Variance = (800 - 750) $\times$ $18

= $900

As the Standard Hours is more than Actual Hours the variance is favorable.

1. Material Variances

Material Price Variance = $3,000 F

Material Quantity Variance = $4,000 U

2. Labor Variances

Labor Rate Variance = $1,425 U

Labor Efficiency Variance = $900 F

6 0

3 years ago

What are organizations that are in the business of benefiting society and operate like a business called

Rudik [331]

Answer:

Nonprofit organisation

Explanation:

A nonprofit organisation is also known as nonbusiness entity is dedicated to promoting a social cause by taking surplus in the society to further a particular objective. Nonprofit organisations are usually exempt from tax for the contributions they receive.

There are not accountable to shareholders but rather to donors, volunteers, program recipients, and the community at large.

4 0

4 years ago

This woman was instrumental in giving important information to the confederacy just before the second battle of bull run. lottie

AlekseyPX

ROSE GREENHOW was instrumental in giving important information to the confederacy just before the second battle of bull run.

She was a socialite before the war. She became a Confederate spy during the American Civil War.

3 0

3 years ago

Read 2 more answers

"In the context of goal-setting theory, _____ is information about the quality or quantity of past performance and indicates whe

Bad White [126]

Answer: performance feedback

Explanation: Feedback on performance is a process of communication. It should be continuous as improvements are made on the basis of information exchanged between the manager and the subordinates. Regular follow-up dialogue should be in place to determine success.

Feedback is structured to see where things go right and where they go wrong. This suggests that leaders may need to be vigilant while they develop new behaviors and conquer the learning curves of new skills.

6 0

3 years ago