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3 years ago

It is the end of the year but not the end of the pay period. How will this affect the balance sheet?

Business

1 answer:

ser-zykov [4K]3 years ago

6 0

Answer:

The correct answer is, <em>Liabilities will be increased</em>.

Explanation:

Though the year has ended however, the payment would still be due to be made. Hence, payables would be reflected in the balance sheet thereby increasing the liabilities.

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Read the following stock quote. How much is this stock worth?

Vladimir79 [104]

Answer: The correct answer is choice c - $56.14

Explanation: The stock quote contains different information about Wal-Mart Stores. Below is an explanation of each of the pieces:

NYSE:WMT - trades on the New York Stock Exchange with the ticker symbol WMT

$56.14 - The most recent trade was for $56.14 per share

0.72 (1.30 percent) - The trade was .72, or 1.3%, higher than the previous trade

10:42AM ET - This is the time that the most recent trade occurred

The most recent trade was for $56.14, which means that is how much the stock is worth.

7 0

3 years ago

he Dimitrios Company records the following transactions during September 2018: Cash sales to customers totaling $5,800. Sales to

Sidana [21]

Answer:

The Dimitrios Company

Service charge expense for credit card sales = $564 ($18,800 * 3%)

Sales discount (contra-revenue) for sales on account = $40 ($2,000 * 2%)

Sales returns (contra-revenue) - $500

Gross sales revenue:

Cash $5,800

Cards $18,800

Accounts receivable $2,000

Total = $26,600

Net sales revenue = $26,100 ($26,600 - $500)

Net cash collected from sales:

Cash Sales $5,800

Card Sales $18,800

Accounts Receivable $2,000

Less: Card Fees $564

Cash Discounts $40

Cash Refund $500

Net cash = $ 25,496

Explanation:

a) Data and Analysis:

Sept. 2018:

Cash $5,800 Sales Revenue $5,800

Credit Cards Receivable $18,800 Sales Revenue $18,800

Credit Card Fee Expense $ 564 Cash $564

Cash $18,800 Credit Cards Receivable $18,800

Accounts Receivable $2,000 Sales Revenue $2,000, terms of 2/10, n/30.

Cash $1,960 Cash Discounts $40 Accounts Receivable $2,000

Sales Returns $500 Cash $500

8 0

3 years ago

The management of Blue Ocean Company estimates that 50,000 machine-hours will be required to support the production planned for

zhuklara [117]

Answer:

$6.00 per machine-hour

Explanation:

Total estimated manufacturing overhead = $300,000

Estimated machine hours = 50,000 hours

Predetermined overhead rate = Total estimated manufacturing overhead / Estimated machine hours

Predetermined overhead rate = $300,000 / 50,000 machine hours

Predetermined overhead rate = $6 per machine hour

So, The correct asnwer is $6.00 per machine-hour.

8 0

3 years ago

Identify each of the following features as applying more to job order operations, process operations or both job order and proce

Fynjy0 [20]

Answer:

Identification of Features Applying More to Job Order Operations, Process Operations, or Both:

Features

1. Cost object is a process. Process Operations

2. Measures unit costs only at period-end. Process Operations

3. Uses indirect costs. Both

4. Transfers costs between Work in

Process Inventory accounts. Process Operations

5. Uses only one Work in Process account. Job Operations

6. Uses materials, labor, and overhead costs. Both

Explanation:

The main difference between the two operations is the manner costs are accumulated. Job operations accumulate costs for different jobs that are not similar. Process operations accumulate costs to show the process a product passes through. The product of a process operation is not unique like the product of a job operation.

6 0

3 years ago

What is the wholesaling industry??

FromTheMoon [43]

Wholesaling is the opposite of retailing. In a wholesaling industry, goods or products are being sold, and distributed to retailers. The wholesalers receives large quantities of these products and they are the ones who sells these to the retailers which are then sold to consumers. Hope this answers your question.

4 0

4 years ago