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3 years ago

Governmental financial reporting should provide information to assist users in which situation?

Business

1 answer:

trasher [3.6K]3 years ago

6 0

Answer: making economic, social, and political decisions and also

assessing whether current-year citizens received services but if part of the payment burden was shifted part to future-year citizens.

Explanation:

Government Financial reporting should assist in fulfilling the government's duty of being publicly accountable. When there's a report of government's finances, citizens will be able to see the way money are spent and received in the country.

It also helps in the provision of information in order to help users assess the service efforts and make political, economic, and social decisions.

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Production Budget Pasadena Candle Inc. projected sales of 64,000 candles for January. The estimated January 1 inventory is 2,600

icang [17]

Answer:

Production budget:

Projected sales= 64,000

Ending inventory= 7,000

Beginning inventory= (2,600)

Total= 68,400 units

Explanation:

Giving the following information:

Pasadena Candle Inc. projected sales of 64,000 candles for January. The estimated January 1 inventory is 2,600 units, and the desired January 31 inventory is 7,000 units.

Production budget= projected sales + ending inventory - beginning inventory

Production budget:

Projected sales= 64,000

Ending inventory= 7,000

Beginning inventory= (2,600)

Total= 68,400 units

3 0

3 years ago

Barney has a balance of $780 on a credit card with an APR of 31.3%, compounded monthly. About how much will he save in interest

BlackZzzverrR [31]

$119.66 is the answer for apex

8 0

3 years ago

Read 2 more answers

Today, most salespeople are well-educated, well-trained professionals who work to build and maintain long-term customer relation

stepladder [879]

Answer:

b. False

Explanation:

The above is false because sales people are supposed to build and maintain long term relationships with their customers by listening to and assessing their needs and not teaching their customers. Sales people create a concerted effort towards solving those needs experienced by their customers.

A salesperson represent the image of the company he or she is selling for, hence must be professional and well trained because the company gets profit through his interactions with the customers. This means that before the company gets profit, customers must be satisfied because these salespeople act as critical link between the company and its customers.

4 0

3 years ago

Wood County Hospital consumes 1,000 boxes of bandages per week. The price of bandages is $35 per box, and the hospital operates

jarptica [38.1K]

Answer:

= $367.34

Explanation:

Economic order quantity (EOQ) is the order quantity that minimizes the balance of holding cost and ordering cost. At the EOQ, the holding costs are equal to the ordering costs.

EOQ = (2× Co× D)/Ch

Total relevant cost of inventory = ordering cost + Holding cost

Step 1

Total cost of inventory under EOQ

EOQ for Wood County

EOQ = 2√(2× 15 × 1000× 52)/(15%× 35)

= 545.10 units

ordering cost =( (1000× 52)/ 545.10 ) × 15 = 1,430.90

Holding cost = ( 545.10/ 2) × 15% × 35 =1,430.90

Total cost =1430.90 + 1430.90= $2,861.81

Step 2

Total cost of inventory using order size of 900 boxes

ordering cost =( (1000× 52)/900 ) × 15 = 866.66

Holding cost = (900/ 2) × 15% × 35 = 2,362.5

Total cost = 866.66 + 2,362.5 = $3,229.16

Step 3

Calculate in savings in total costs

Savings = Difference in total inventory cost of EOQ order size and 900 boxes order size :

=$3,229.16-$2,861.81

= $367.34

Savings = $367.34

3 0

3 years ago

sharp screen films, inc., is developing its annual financial statements at december 31, current year. the statements are complet

gavmur [86]

Financial statements are written records that outline a company's operations as well as its financial success. Government organizations, accounting firms, and other entities frequently audit financial statements to assure their accuracy and for reasons related to taxes, financing, or investment. The balance sheet, income statement, cash flow statement, and statement of changes in equity are the four basic financial statements used by for-profit organizations. Nonprofit organizations employ a comparable but distinct set of financial statements.

SHARP SCREEN FILMS, INC.

Statement of Cash Flows

For the Year Ended December 31, Current year

Cash flows from operating activities:

Net income 46050

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation expense 13650

Decrease in accounts receivable 7200

Increase in merchandise inventory -4850

Decrease in accounts payable -10200

Decrease in wages payable -400 5400

51450

Net cash provided by operating activities

Cash flows from investing activities:

Cash payments to purchase fixed assets -58950

Net cash used in investing activities -58950

Cash flows from financing activities:

Cash payments on long-term note -10900

Cash payments for dividends -13950

Cash receipts from issuing stock 33400

Net cash provided by financing activities 8550

Net increase in cash during the year 1050

Cash balance, January 1, current year 63900

Cash balance, December 31, 2015 current year 64950

Financial information is used by analysts and investors to assess a company's performance and forecast the course of its stock price in the future. The company's annual report, which includes its financial statements, is among the most significant sources of trustworthy and audited financial data.

Investors, market analysts, and creditors analyze the financial statements to assess the strength of a company's finances and future profits potential. The statement of cash flows, income statement, and balance sheet are the three main financial statement reports.

Learn more about financial statements here

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4 0

2 years ago