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3 years ago

The adjusted trial balance of Norton Company contained the following information. Assume the tax rate is 25%:

Business

1 answer:

const2013 [10]3 years ago

6 0

Answer:

b. $65,000

Explanation:

Particulars Amount

Revenues

Service Revenue $390,000

Less: Sales Return and allowance $10,000

Less: Sales Discount <u>$5,000 </u>

Net Sales Revenue $375,000

Less: Cost of Goods Sold <u>$200,000</u>

Gross Profit $175,000

Less: Operating Expenses <u>$110,000</u>

Operating Income <u>$65,000</u>

Thus, income from operation is $65,000

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__________ is the function in business that is responsible for acquiring funds for the firm and managing funds within the firm.

Contact [7]

The financial manager must decide how much money is needed and when, how best to use the available funds, and how to get the required financing

<h3>What is financial manager?</h3>

Financial managers are in charge of an organization's financial health. They create financial reports, direct investment activities, and plan for their organization's long-term financial goals.

A financial manager is in charge of maintaining the proper balance of equity and debt. Funding allocation: The next step is to allocate the funds after they have been raised. The best way to allocate funds: the size of the organizations and their ability to grow.

The finance function serves two primary functions: it provides the financial information that other business functions require to function effectively and efficiently. to assist with business planning and decision making

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2 years ago

When required, the information provided to the data subject in a HIPAA disclosure accounting …

Lana71 [14]

Answer:

A. must be more detailed for disclosures that involve fewer than 50 subject records.

Explanation:

The Health Insurance Portability and Accountability Act (HIPAA) of 1996 was a bill enacted by the 104th U.S Congress and was signed in 1996 by President Bill Clinton. It is a federal law that protects sensitive patient health information from being disclosed without their knowledge, approval or consent and payment of health care insurance for employees.

For example, an employee or worker can receive health insurance from his or her former employer even after changing job because of the Health Insurance Portability and Accountability Act (HIPAA).

When required, the information provided to the data subject in a HIPAA disclosure accounting must be more detailed for disclosures that involve fewer than 50 subject records.

3 0

2 years ago

Help i'm desperate time is tight

ioda

C is the correct answer

6 0

3 years ago

The management of Brinkley Corporation is interested in using simulation to estimate the profit per unit for a new product. The

Furkat [3]

The calculated profit per unit for base-case, worst-case is, and best-case for the management of Brinkley corporation is:

$7
$3 per unit
$3 per unit

<h3>The Profit per unit for base-case:</h3>

45 - 1 1- 24 - 3 = $7

<h3>Profit per unit for worst case:</h3>

45 - 12 - 25 - 3 = $3 per unit

<h3>Profit per unit for best case:</h3>

45 - 10 - 20 - 3 = 12$ per unit

b. The mean profit per unit is given as $7.05

c. The reason the simulation approach is preferable is due to the fact that it can help to determine the probability of profit as a particular amount, unlike the what-if scenario analysis.

It can also create different scenarios for possible resources.

d. The probability of the fact that the profit per unit woul be less than 5 is 9%

Read more on risk analysis here: brainly.com/question/6955504

5 0

2 years ago

Job 101 was completed and sold for $60,000. Job 102 was completed but not sold. Job 103 is still in process. Actual overhead cos

castortr0y [4]

Answer:

Required 1

Debit : Finished Goods $53,600

Credit : Work In Process $53,600

Required 2

Debit : Cash $60,000

Debit : Cost of Goods Sold $55,000

Credit : Sales $60,000

Credit : Finished Goods $55,000

Required 3

Debit : Overheads $4,000

Credit : Cost of Sales $4,000

Explanation :

Hi, I have attached the full question as a pdf below

<u>Manufacturing Costs Calculations :</u>

Job 101 = $19,200 + $28,800 + ($420,000/60,000 x1,000) = $55,000

Job 102 = $14,400 + $11,200 + ($420,000/60,000 x4,000) = $53,600

<u>Closing Overheads :</u>

Actual Overheads = $45,000

Applied Overheads = $420,000/60,000 x 7,000 hours = $49,000

Therefore,

Overheads are over-applied ( by $4,000) and must be deducted from cost of sales

Download pdf

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3 years ago