1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Georgia [21]
3 years ago
7

Prepare partners' capital statement and partial balance sheet. (LO 2) For National Co., beginning capital balances on January 1,

2020, are Nancy Payne $20,000 and Ann Dody $18,000. During the year, drawings were Payne $8,000 and Dody $5,000. Net income was $40,000, and the partners share income equally.

Business
1 answer:
timurjin [86]3 years ago
5 0

Answer: The answer had been attached below

Explanation:

The purpose of a balance sheet is to show the financial status of a business at a particular point in time. It shows an asset i.e what is owned by an entity, the liability i.e how much an entity owes and an equity i.e the amount invested in a business.

The partners' capital statement and partial balance sheet. (LO 2) for National Co., has been prepared and attached below.

You might be interested in
Initial margin requirements are determined by:________
Goryan [66]

Answer:

b. the Federal Reserve System.

Explanation:

Initial margin refers to the deposit made by an investor with a broker, in order to open a margin account. The purpose of initial margin is security and collateral to ensure enough availability of cash in the trading account of the investor.

For instance an investor wants to purchase 4000 shares priced at 15$. In this case, he is supposed to deposit 50% of $60,000 i.e $30,000. The remaining $30,000 is contributed by the brokerage firm, regarded as borrowings on which the investor pays interest.

The initial margin limit is fixed by the Federal Reserve System.

3 0
4 years ago
The standard quantity allowed for the units produced was 4,500 pounds, the standard price was $2.50 per pound, and the materials
katrin2010 [14]
The standard quantity that is produces is multiplied to the standard price. The product is subtracted to the quantity variance and will be divided to the standard price. The product you have acquired will be the units that are produced.

4,500 pounds x $2.50 = 11,250
11,250 - $375  = 10,875
10,875 / $2.50 = 4,350

Answer: There are 4,350 units produced.
7 0
3 years ago
Your business is launching a new product offering and plans to send an email notifying your customers of the launch. since your
aniked [119]
The simplest thing to do is to categorise your customers by their industries and send specified emails to a cluster of customers from each industry.  
4 0
3 years ago
Healthy Measures Inc. produces a Bath and Gym version of its popular electronic scale. The anticipated unit sales for the scales
lesantik [10]

Answer:

Explanation:

Production budget is a schedule of the number of units of goods that are to be produced using a forecast sales amount and the level of the opening and closing inventory

                                            Bath Scale                       Gym Scale

Northern region                     25,500                              33,300

Southern region                     27,500                              28,900

Total                                        53,000                               62,200  

Opening inventory                  (1,200)                                ( 2,500 )

Closing inventory                     900                                     2,700    

Total units to be produced     52,700                               62,400

Bath scale = 53000+900 -1200 = 52700

Gym scale = 62200+ 2700-2500 =62,400

           

7 0
4 years ago
2. Why is the finance department of a company important? (1-2 sentences. 2.0 points) 3. Why is the marketing department of a com
snow_tiger [21]
2. The finance department is important in one company because it covers a wide range of activities from basic bookkeeping to providing financial information essential to the company's survival. Its role is to balance profit with cost also.

3. The marketing department plays a vital role in a company in representing the company's image and brand. They are the ones reaching out to customers, prospects, and investors.

4. <span>The customer service department's task is to keep the customers that the marketing department brought in satisfied. They handle problems, issues, queries that a customer may have, and the services they offer is extremely important for a company in a long-run.

5. In forming a new company, you will need to have workers and staffs in the marketing and finance department. Since a baby company will usually have a hard time entering a market, a skilled marketing staff is needed to market their products and services. To balance the cost of marketing and advertising also, you will need a proficient finance staff. With these two departments, you can slowly grow your company little by little.

6. Apple is an example of a very successful company in their chosen line of business. They offer <em>great customer service</em> and in-store experiences. They stay <em>two years ahead of their competitors</em>. They produce <em>easy to use </em>products which is, of course, a benefit to the customers. 

7. Top three reasons for the failure of a business: mismanagement - without proper planning or standards to follow a company would be in a chaos; poor accounting or financial decision making - money is what makes a business run, having inadequate knowledge in this area will seriously affect the business; location - is the location of the business convenient for customers? Your business can be great but the location also influences a company's success.

8. An example of an employee facing a conflict of interest is when he uses his position or involvement in that company for his own personal gain. To deal with this situation, a mediator or someone of higher rank can guide or supervise. Talking it out might help but to assure that such situation won't happen again, there must be sanctions or penalties imposed to the involved employee.</span>
3 0
3 years ago
Other questions:
  • He allowance method of estimating uncollectible accounts receivable based on an analysis of receivables shows that $640 of accou
    13·1 answer
  • When a price floor is placed on the price of movie tickets, the consumer surplus relative to the free market equilibrium will mo
    7·2 answers
  • Cosi Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Cosi expects to incu
    7·1 answer
  • Which of the following is a non-depository intermediary?
    14·1 answer
  • A supply curve shows the relationship between the​ ______ and​ _____ when all other influences on selling plans remain the same.
    7·1 answer
  • With regard to New United Motor Manufacturing, Inc. (NUMMI), why did General Motors (GM) enter into a strategic alliance with To
    5·1 answer
  • 1. Assume that nominal GDP for 2012 was $700B with a price index of 110 (using 2004 as the base year). What is the real GDP for
    7·1 answer
  • Graham Corp. has 1,000 cartons of oranges that were harvested at a cost of $30,400. The oranges can be sold as is for $36,400. T
    9·1 answer
  • Perfect Fit Company sells men's shirts and jeans. The average selling price and variable cost for each product follow: Selling p
    13·1 answer
  • postal express is considering the purchase of a new sorting machine. the sales quote consists of quarterly payments of $37,200 f
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!