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nekit [7.7K]
3 years ago
15

The records for Sandhill Inc. showed the following for 2020: Jan. 1 Dec. 31 Accrued expenses $1,200 $2,100 Prepaid expenses 630

850 Cash paid during the year for expenses, $49,850 Calculate the amount of expense that should be reported on the income statement.
Business
1 answer:
salantis [7]3 years ago
7 0

Answer:

$50,530

Explanation:

The computation of the amount of expenses reported on the income statement is shown below:

= Cash paid - Opening balance of  accrued expenses + Closing balance  accrued expenses + Opening balance of prepaid expenses - Closing balance of prepaid expenses

= $49,850 - $1,200 + $2,100 + $630 - $850

= $50,530

We added the ending balance of accrued expenses and opening balance of prepaid expenses while deducting the ending balance of accrued expenses and closing balance of prepaid expenses

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In mass service and professional service, the operations manager should focus extensively on:______.
Savatey [412]

In mass service and professional service, the operations manager should focus extensively on equipment maintenance.

<h3>What is the work of operations manager?</h3>

Operations management is a branch of management that focuses on planning, organizing, and redesigning the production process for goods or services as well as business operations. It comprises the obligation to make sure that business operations are effective in satisfying consumer needs while utilizing the fewest resources possible.

It is concerned with overseeing a comprehensive service or production system, which is the method through which inputs are transformed into outputs. Operations create services, control quality, and produce goods. Working with suppliers, customers, and technology are all aspects of operation management that apply to industries such as financial systems, hospitals, and businesses. One of the key roles in a corporation, along with supply chains, marketing, finance, and human resources, is operations.

To learn more about operations management visit:

brainly.com/question/14523862

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4 0
1 year ago
AJ Manufacturing Company incurred $54,000 of fixed product cost and $43,200 of variable product cost during its first year of op
kvv77 [185]

Answer:

Explanation:

The preparation of the income statement is presented below using the generally accepted accounting Principles (GAAP) :

Sales $176,000

Less: Cost of goods sold ($97,200)         ($54,000 + $43,200)

Gross margin $78,800

Less: Selling and administrative cost ($31,000)    ($17,200 + $13,800)

Net income $47,800

Hence, we considered all the given information

8 0
3 years ago
An issuer decides to call in an outstanding bond issue under the terms detailed in the bond resolution because interest rates ha
tino4ka555 [31]

Answer:

An optional Call

Explanation:

Callable Bond

Callable bond represents an instrument of debt where the issuer issues the instrument reserving the right to make a return of the principal of investors including the stoppage of interest payments before the date of maturity of the bond.

Organisations would usually issue bonds as callable when either to meet unexpected obligations like pay off other debts, fund expansions or when they sense that opportunities may arise in the future for them to get other forms of financing at lower interest rates.

For bonds to be callable the terms must be clearly stated in the bond's offering.

Optional Call

In optional call, the issuer reserves the right to call the bonds to take advantage of present circumstances such as significant drop in interest rates (as stated in the question). However, the terms detailed in the bond resolution will allow the bondholders to receive a premium to par as compensation for their loss of interest payments on the called bond.

Furthermore, a period of time must usually pass before the issuer can use the optional call.

6 0
3 years ago
Vijay Inc. purchased a three-acre tract of land for a building site for $350,000. On the land was a building with an appraised v
alexandr402 [8]

Answer: b) $364,090

Explanation:

The Capitalized cost of the land would be the costs incurred to acquire the land and to set it up.

Capitalized cost = Purchase price + demolition of old building + title insurance + attorney fees + property taxes(for period since purchase) - scrap value

= 350,000 + 11,700 + 810 + 540 + (3,000 - 350) - 1,610

= $364,090

3 0
2 years ago
To explain the analogous relationship between the trail and the hike to the plant and inventory Alex makes the following stateme
wariber [46]

Answer:

True

Explanation:

In industry, inventory buildups are cancelled with increased sales and marketing activities, which attract rewards and punishments.  This is why it is always a taboo to observe idle workers.  Idle workers cost the entity much in expenses.  Workers are employed based on productivity and profitability indexes.  There is no business entity that employs workers for the fun of employment.

5 0
3 years ago
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