Answer:
Refer explanation
Explanation:
1. Purchase of Inventory ($302000)
This transaction has occurred on account which means that payment was not made immediately but would be made at a future date, thus a creditor to the business.
Debit : Purchases account : $302000
Credit : Accounts Payables account : $302000
2. Sale of inventory ($504000)
The sale of inventory requires two separate transactions. The sale is accounted and along with this, the amount of inventory sold would also have to be accounted as an asset reduction.
A. To reduce inventory:
Debit : Cost of Sales account : $327000
Credit : Inventory account : $327000
B. Record the sale:
Debit : Accounts Receivables account : $504000
Credit : Sales account : $504000
This too is a sale on account which means that a debtor has been incurred who will pay for the sale at a later date.
Answer:
a. Lockheed Martin is a government contractor
b. Amtrak is a government corporation
Explanation:
a. Lock heed Martin as a Government Contractor
A government contractor is a company that does contracts predominantly supplied by the government. The contracts are financed by the government mostly from tax collection. These contracts vary in type whether it is defense or any other type of contract for that matter.
In the case of Lockheed Martin, this is a defense contractor that has been listed as one of the biggest government contractors over the years. It also has worldwide interest in aerospace and advanced technologies. This company was formed as a result of a merger between Lockheed Corporation and Martin Marietta on the March of 1995.
b. Amtrak as a government corporation
From these information it can be concluded that a government contractor is in most cases is a private company that bids for tenders from the government. The bidding process is usually open to all qualified companies. After thorough assessment of these bids, the government awards the contract to the most qualified company. In the case of Lockheed Martin, the government usually requires a specialized skills in aerospace, and defense.
A government corporation on the other hand is a huge company that is there majorly for the interest of the public. It is usually partly owned by the government therefor receives a combination of state and federal subsidies. It is also usually for non-profit purposes since it is formed for the benefit of the public. The National Railroad Passenger Corporation which does it's business with the name Amtrak is a railway corporation formed in 1971 and is partly owned by the government. It provides railway services of transporting people and goods connecting many states. It therefor serves as a government corporation.
Budgeted Purchases = Sales units + Closing inventory - Beginning Inventory
= 5,000 + (1,000 * 130%) - 1,000
= 5,300 units
Answer:
Answer is B. She should use 28-point fonts for titles and 18-point fonts for body text.
Refer below.
Explanation:
Sarah has created a presentation to convince the executives at Sit Happens dog care, a regional chain of full service dog boutiques, to include behavioral training in employee interactions with canine clients. It hits every mark but one: it is difficult to visually distinguish key points from the rest of the slides. As a trusted colleague, the suggestion beloe might you give her to improve her presentation for ease of processing:
She should use 28-point fonts for titles and 18-point fonts for body text.
Answer:
Desing A is a better deal as the equivalent annual cost is lower than desing B
Anywa, bot desing cost are above the city collections thus, it cannot afford the sanitary systems unless it raises taxes
Explanation:
<em><u>Desing A </u></em>
F0 405,000
operating and maintenance cost 51,000 for 14 years
Present value of the operating and maintenance cost:
C = $ 51,000.00
time = 14 years
rate = 0.07
PV $446,018.8673
net worth: $ 851,081.87
equivalent annual cost:
PV 851,082
time 14
rate 0.07
C $ 97,316.904
<u><em>Desing B</em></u>
F0 251,000
operating and maintenance cost 89,000 for 14 years
C 89,000.00
time 14
rate 0.07
PV $778,346.6507
net worth: $ 1,029,346.65
equivalent annual cost:
C $ 117,700.580
