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3 years ago

After you record your business transactions, what’s the next step in the process of turning this data into useful information

Business

1 answer:

sesenic [268]3 years ago

6 0

Answer:

after yopu record the transaction using the double entry sysem, then you must identify the category which these balances belong to such as Assets, expenses, Liabilities, Income or Equity.

It is only after this identification we can apply these to calculate the overal financial productivity of the organization or the profit. because then we can identify the effect these balances have upon the profit!

Explanation:

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The selected inventory costing method impacts:________

Alisiya [41]

Answer:

The correct option is a) Gross profit and ending inventory.

Explanation:

The inventory technique is a method of accounting for calculating the value of an inventory. The approach calculates the ending inventory balance by comparing the inventory cost to the merchandise price.

There are three methods for valuing inventory whic are FIFO (First In, First Out), LIFO (Last In, First Out), and WAC (Weighted Average Cost) (Weighted Average Cost). The gross profit and ending inventory are affected differently by each of these costing methods.

This implies that the selected inventory costing method impacts gross profit and ending inventory.

Therefore, the correct option is a) Gross profit and ending inventory.

4 0

3 years ago

Ryan is debating how to allocate the IMC budget for his new ski equipment store. He knows having knowledgeable salespeople in hi

OLEGan [10]

Answer:

The correct answer is the option B: overrated.

Explanation:

To begin with, <em>personal selling </em>is the term that in marketing involves the action from a salesman of basically sale the product or service from the company to the customer. Moreover, this type of promotion of the product tends to be more effective than the other types, such as publicity, direct marketing, public relations and more.

Secondly, the fact that personal selling <em>is overrated is because so many businessman tends to see it as an old way to promote the product</em>. However, <em>the personal selling tends to be the most effective way</em> in comparison with the other IMC alternatives and that is due to the fact that <em>the salesman could effectively change the speech depending on the type of person</em> he is speaking with and therefore to <em>adjust that speech</em> and that sale to the person that is being responsed at the same time and having his doubts resulted as well.

5 0

3 years ago

On January 1, 2021, Tabitha Designs purchased a patent for $384,000 giving it exclusive rights to manufacture a new type of synt

Elena L [17]

Answer:

$61,750

Explanation:

Amortization expenses per year = Purchase Cost of Patent/Useful life of the Assets

Amortization expenses per year = $384,000/8 years

Amortization expenses per year = $48,000

Net Value for Depreciation = Purchase Cost of Machine - Salvage Value

Net Value for Depreciation = $149,000 - $39,000

Net Value for Depreciation = $110,000

Depreciation per year = Net Value for Depreciation/Useful life of the Assets

Depreciation per year = $110,000 / 8 years

Depreciation per year = $13,750

The amount to expense in 2024 related to the patent and equipment should be:

Amortization expenses = $48,000

Depreciation expenses = <u>$13,750</u>

Total <u>$61,750</u>

7 0

3 years ago

On January 1, 2021, Clark Corporation sold an $800,000, 7% bond issued for $767,320. The bonds are to pay interest quarterly and

serg [7]

Clark Corporation's total cost of borrowing $800,000, 7% bonds issued for $767,320 for 5 years is $344,702.87.

<h3>What is the total cost of borrowing?</h3>

The total cost of borrowing includes the bond discounts and the interest expenses.

In this case, the total cost of borrowing is $344,702.87. However, this is only the pre-tax cost.

<h3>Data and Calculations:</h3>

Face value = $800,000

Interest rate = 7%

Bonds proceeds = $767,320

Bonds discounts = $32,680 ($800,000 - $767,320)

Maturity period = 5 years

Market rate = 8%

Interest payment = quarterly

Quarter interest expense = $14,000 ($800,000 x 7% x 1/4)

N (# of periods) = 20 (5 x 4)

I/Y (Interest per year) = 8%

PMT (Periodic Payment) = $14,000 ($800,000 x 7% x 1/4)

FV (Future Value) = $800,000

<u>Results:</u>

PV = $767,297.13

Sum of all periodic payments = $280,000 ($14,000 x 20)

Total Interest = $312,702.87

Total cost of borrowing = $344,702.87 ($32,680 + $312,702.87)

Thus, Clark Corporation's total cost of borrowing $800,000, 7% bonds issued for $767,320 for 5 years is $344,702.87.

Learn more about the total cost of borrowing at brainly.com/question/25599836

6 0

2 years ago

Once the information is complete and conclusions are made, then management can make more confident business decisions. This is p

Dovator [93]

The act of making the decision is the part of this step of market research that makes management more confident business decisions.

<h3>What is market research?</h3>

This refers to the activity of gathering market information about consumers' needs and preferences.

Some steps of a market research includes:

present the findings
make the decision
develop the research plan
collect the information