Answer:
1. If the depreciation is not recorded, expenses will be overstated. Net income will therefore be higher by the depreciation amount of $5,400.
2. One June 30, $34,000 was loaned out. Interest is 7%. This interest needs to be apportioned to 6 months in the year as interest revenue:
= [(7% * 34,000) / 12] * 6 months
= $1,190
If this is not recorded, interest revenue will not be recorded which means that Net income will be lower by $1,190.
3. This was for one year yet it was received on October 1. 3 months of the amount will have to be accounted for in the current period.
= (9,600/12) * 3
= $2,400
There must be revenue recognized of $2,400. If it is not recognized, Net income will be lower by $2,400.
In total, Net income will be higher (lower) by:
= 5,400 - 1,190 - 2,400
= $1,810
Higher by $1,810.
Answer:
Letter B is correct. Unity of command.
Explanation:
Unity of command is defined as t<u>he importance of respecting hierarchy within an organization.</u> The orders are given by the superiors and the subordinates must comply with them, that is, the orders of those who are at the top of the hierarchy must always be respected and only the superiors are allowed to change them.
When there is a violation of the command unit, several related conflicts can arise, such as lack of consensus among teams, disorganization, failure in the communication process, which negatively impact organizational effectiveness.
Answer:
That statement is true.
Explanation:
"Key areas" of the business refers to business activities that directly related in core business operation. These activities are the one with most influence in determining how much products the companies able to sell to the consumers.
Internal weakness in SWOT analysis refers to consist of the things from within the company that can create some sort of damage to the company's operation if not taken care of.
Leaving internal weakness unfixed with heavily damage the productivity of company. Not only that, it could also damage the market's perception toward the company. When the customers have completely lost faith in the quality of company's product, there is almost nothing the company can do to fix it.
Answer:
D. Any of the above, depending on the transactions
Explanation:
The double entry principle simply means that any accounting transaction has two records: one credit, and one debit, and it depends on the nature of the transaction, and of the accounts involved which specific value is credited and which one is debited.
For example, if a firm purchases 100$ of office supplies with cash, the credited account is cash, because cash is reduced by $100, while the office supplies account is debited by the same value.
If a firm sells 100$ of office supplies instead, the office supplies inventory is credited for this value, while the same amount of cash is debited for this same amount.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Variable cost:
Direct material= $0.50 per unit
Fixed cost:
Fixed overhead= $15,000
Total cost for 10,000 units:
Variable cost= 0.50*10,000= 5,000
Fixed costs= 15,000
Total cost= $20,000
Total cost for 15,000 units:
Variable cost= 0.50*15,000= 7,500
Fixed costs= 15,000
Total cost= $22,500
