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Alisiya [41]
4 years ago
11

Coda Inc. is an apparel manufacturer. The management at Coda prefers moderate control over the operations of the different depar

tments such as R&D, design, marketing, and sales. It allocates a budget to each function at the beginning of each quarter. This is an example of implementing control through _____.
Business
1 answer:
ella [17]4 years ago
5 0

Answer: input control

Explanation:

From the question, we are informed that Coda Inc. is an apparel manufacturer and that the management at Coda prefers moderate control over the operations of the different departments such as R&D, design, marketing, and sales.

We are further told that it allocates a budget to each function at the beginning of each quarter. This is an example of implementing input control.

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Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end
german

Answer:

1. Journalize the adjusting entries necessary on April 30. 2019.

Dr Supplies expense 5,820

    Cr Supplies 5,820

Dr Accounts receivable 3,900

    Cr Earned fees 3,900

Dr Depreciation expense 3,000

    Cr Accumulated depreciation 3,000

Dr Wages expense 2,475

    Cr Wages payable 2,475

2. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters before the adjusting entries.

  unadjusted income statement

Fees Earned                      $305,800

Wages Expense               ($157,800 )

Rent Expense                    ($55,000 )

Utilities Expense               ($42,000 )

<u>Miscellaneous Expense      ($7,000)</u>

Net income                         $44,000

3. Determine the revenues, expense, and net income of Crazy Mountain Outfitters after the adjusting entries.

    adjusted income statement

Fees Earned                      $309,700

Wages Expense               ($160,275 )

Rent Expense                    ($55,000 )

Utilities Expense               ($42,000 )

Depreciation expense        ($3,000)

<u>Miscellaneous Expense    ($12,820)</u>

Net income                         $36,605

4. Determine the effect of the adjusting entries on Retained Earnings.

Since net income decreases after the adjusting entries, retained earnings will also decrease. Retained earnings are increased by the amount of net income.

5 0
4 years ago
In a transaction accounted for using the acquisition method where consideration transferred exceeds book value of the acquired c
harina [27]

Answer:

The answer is A.

Explanation:

Net assets of the acquired company are revalued to their fair values and any excess of consideration transferred over fair value of net assets acquired is allocated to goodwill is correct.

This is also the calculation of goodwill. Goodwill is calculated by subtracting fair value of net identifiable net asset o the company that is about to be acquired from its purchase price. If purchase price is higher than net assets of the acquired, then it is a positive goodwill but if the purchase price is lesser than the net assets of the acquired, it is a negative goodwill.

8 0
3 years ago
A salt mine you inherited will pay you 25,000 per year for 25 years, with the first payment being made todayIf you think retum t
Lina20 [59]

Answer:

b. $299,574

Explanation:

For calculating the ask price, we first need to compute the present value which is attached in the spreadsheet.

In this question, we use the present value formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Future value = $0

Rate of interest = 7.5%

NPER = 25 years  - 1 years = 24 years

PMT = $25,000

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after solving this, the present value is $278,673.65

Now the ask price is

= $274,574.17  + $25,000

= $299,574.17

6 0
3 years ago
After Elizabeth’s son proposes to his girlfriend, she tells her that she will be passing on the family heirloom (a diamond neckl
Semmy [17]

Option:

Yes, Elizabeth clearly wanted the fiancée to take possession of the necklace and earrings.

Yes, as a gift beneficiary, the fiancée can sue the estate for possession of the necklace and the earrings.

No, Elizabeth died before she could deliver the gift to the fiancée, therefore, the gift fails.

No, the fiancée gave no consideration; hence she cannot enforce the gift.

Answer:

No, Elizabeth died before she could deliver the gift to the fiancée, therefore, the gift fails.

Explanation: For a gift to be binding it must possess three main characteristics which includes

(1) The intention to give the gift by the donor

(2) The transfer or giving of the gift to the donee

(3) The acceptance of the gift by the donee.

A PROMISE TO GIVE SOMEONE A GIFT THAT DOES NOT POSSESS THESE CHARACTERS IS CONSIDERED MEANINGLESS)IT IS OF NO LEGAL VALUE AND CAN NIT BE ENFORCED BY THE COURTS.

7 0
4 years ago
Help i'm desperate time is tight
ioda
C is the correct answer
6 0
3 years ago
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