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3 years ago

A(n) _________ is a yearly published statement of the financial condition, progress and expectations of an organization.

Business

1 answer:

Anika [276]3 years ago

4 0

Answer: Annual Report

Explanation:

Completing the question with right answer:

An annual report is a yearly published statement of the financial condition, progress and expectations of an organization.

The financial report is normally targeted at the stakeholders and other individuals who have interest in the organization.

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Which employee is the business, management, and administration career cluster who would most likely work in a cubicle

Luden [163]

I would say Sales Representative because a receptionist works front desk mail clerk does mail accountant has its own office

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3 years ago

Read 2 more answers

Store supplies still available at fiscal year-end amount to $1,900. Expired insurance, an administrative expense, for the fiscal

DaniilM [7]

Answer:

Current Ratio = 1.67:1

Acid Test Ratio = 0.1:1

Gross Profit Margin = 66%

Explanation:

Cash.......1000

Merchandise inventory...12,500

Store supplies....5800

Prepaid Insurance...2400

Accounts Payable...................10,000

Sales..............................111950

Cost of Goods Sold....38,400

Store supplies still available at fiscal year-end amount to $1,900. Expired insurance, an administrative expense, for the fiscal year is $1,650. Depreciation expense on store equipment, a selling expense, is $1,600 for the fiscal year. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $11,000 of inventory is still available at fiscal year-end. 4. Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2018.

Therefore Balance Store supplies = 5800-1900

Prepaid Insurance = 2400-1650

Balance Inventory = 11,000

Current Ratio = Current Assets/ Current liabilities

Current Ratio = (1000 cash + 11,000 inventory + 3,900 Store supplies + 750 prepaid insurance) / 10,000 Accounts payable = 16650/10000 = 1.67

Current Ratio = 1.67:1

Acid test Ratio = Current Asset - inventory / Current Liabilities

(16,650 - 11,000 inventory - 3,900 Store supplies - 750 Prepaid Insurance) /10,000 = 0.1

Acid Test Ratio = 0.1:1

Gross Profit Margin = Gross Profit / Sales x 100

Gross Profit = Sales - Cost of Goods Sold = 111,950 - 38400 = 73550

Therefore Gross profit Margin = 73550/111950 x 100 = 66%

Gross Profit Margin = 66%

3 0

3 years ago

Lucy Sportswear manufactures a specialty line of T-shirts using a job-order cost system. During March, the following costs were

alukav5142 [94]

Answer:

Unit cost= $5,5unit

Explanation:

Total manufacturing cost is the aggregate amount of cost incurred by a business to produce goods in a reporting period.

Generally accepted accounting principles require that the cost of goods sold shall consist of:

the cost of direct materials

the cost of direct labor

the cost of manufacturing overhead

Expenses that are outside of the manufacturing facilities, such as selling, general and administrative expenses, are not product costs. They are reported as expenses on the income statement in the accounting period in which they occur.

<u>In this exercise:</u>

Cost of goods manufactured:

Direct materials= $13700

Direct Labor=$4800

Factory overhead= 800hours*$25=$20000

Total= $38500

Unit cost= 38500/7000=$5,5unit

8 0

4 years ago

Managers find operation costing useful in cost management because it: A. focuses on control of physical processes of a given pr

kirill [66]

Answer:

The answer is option C) Managers find operation costing useful in cost management because it uses job costing to account for the conversion costs and process costing for the material and customizable components.

Explanation:

Operation costing is a mix of job costing and process costing,

In Process Costing, each process or stage of production is costed separately. while Job costing is used to calculate and assign the total cost of materials, labor, and overhead of a specific job.

The manufacture of a product may consist of several operations. In Operation Costing, costs are collected for each operation instead of each process or stage of manufacture.

Therefore, Managers find operation costing useful in cost management because it uses job costing to account for the conversion costs and process costing for the material and customizable components.

6 0

4 years ago

Admire County Bank agrees to lend Givens Brick Company $300,000 on January 1. Givens Brick Company signs a $300,000, 8%, 9-month

Harlamova29_29 [7]

Answer:

The correct option is C.

Cash A/c Dr $300,000

To Notes Payable $300,000

(Being notes payable issued)

Explanation:

As brick company has sign a $300,000 note which consist 7% interest rate and the duration of note is 9 month on January 1

The question has asked the journal entry on January 1 date.

So, the journal entry is

Cash A/c Dr $300,000

To Notes Payable $300,000

(Being notes payable issued)

The interest part should be ignored because in the question they asked the journal entry of January 1 not in the end of the month. According to the date of asking the journal entry, the amount is to be calculated. Thus, interest should not be considered.

Hence, the correct option is C.

Cash A/c Dr $300,000

To Notes Payable $300,000

(Being notes payable issued)

5 0

3 years ago