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3 years ago

Marsha Bogswell is the sole stockholder of Bogswell Legal Services.

Business

1 answer:

den301095 [7]3 years ago

8 0

Answer:

d. Business entity assumption.

Explanation:

Business entity assumption -

It is an accounting principle ,

According to this principle , the financial statements or any financial records ,should be kept far apart from the personal financial records , is referred to as business entity assumption .

As all the money required for business need to be recorded separately .

Hence, from the given scenario of the question ,

The correct option is d. Business entity assumption .

You might be interested in

Internal control procedures for cash receipts do not require that:_____.

Alex73 [517]

Answer:

b. All collections for sales are received immediately upon making the sales.

Explanation:

Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the

resources of an organization are been

measured as well as been directed and monitored.

It should be noted that Internal control procedures for cash receipts require that:.

✓Custody over cash is kept separate from its recordkeeping.

✓Clerks having access to cash in a cash register should not have access to the register tape or file.

✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.

✓Cash sales should be recorded on a cash register at the time of each sale

7 0

3 years ago

Bia garden store makes two types of gazebo. Making a wooden gazebo requires 4 hours of labor while making a metal gazebo require

Artyom0805 [142]

Answer:

C.$16 of overhead cost should be assigned to each wooden gazebo and

$40 of overhead cost should be assigned to each metal gazebo

Explanation:

2,000 wooden x 4 hours = 8,000 labor hours

500 metal x 10 = 5,000 labor hours

total hours 13,000

single manufacturing overhead: 52,000 / 13,000 = $4 per labor hours

wooden gazebos: 4hours x $4 = $ 16

metal gazebos: 10 hours x $4 = $40

8 0

3 years ago

When making financial decisions, it is important that you critically evaluate the source.

svetoff [14.1K]

Hello,

Here is your answer:

The proper answer is option A "true". It is extremely important to find the source of the information because the source could not be verified (which means its giving false information).

Your answer is A.

If you need anymore help feel free to ask me!

Hope this helps!

7 0

2 years ago

Read 2 more answers

Borques Company produces and sells wooden pallets that are used for moving and stacking materials. The operating costs for the p

KengaRu [80]

Answer:

Borques Company

a. Unit inventory cost = $7.27

b. Ending inventory = 3,900 units

c. Absorption-costing operating income = $73,569

Explanation:

a) Data and Calculations:

Variable costs per unit:

Direct materials $2.85

Direct labor $1.92

Variable overhead $1.60 $6.37

Variable selling $0.90 $7.27

Fixed costs per year:

Fixed overhead $180,000

Selling and administrative $96,000 $276,000

Selling price per unit = $9

Acceptable per-unit inventory cost:

Variable product cost per unit = $6.37

Total variable production cost = $1,274,000

Fixed production cost = 180,000

Total production cost = $1,453,000

Unit inventory cost = $7.27 ($1,453,000/200,000)

b. Ending inventory

Beginning inventory 8,200

Production units = 200,000

Units available 208,200

Sales units = 204,300

Ending inventory 3,900

c. Absorption Costing Operating Income:

Sales Revenue $1,838,700 ($9 * 204,300)

Cost of goods sold 1,485,261 ($7.27 * 204,300)

Gross profit $353,439

Selling expenses:

Variable ($0.90 * 204,300) 183,870

Fixed 96,000

Total selling expenses $279,870

Operating income $73,569

5 0

2 years ago

In 2013, there were approximately 155 million people in the labor force and the unemployment rate was 7.4 percent. If the unempl

Marianna [84]

Answer:

(a) 3.7

(b) 3.7

Explanation:

The unemployment rate is calculated as the ration of unemployed workers over the labor force. The labor force is the total number of employed plus unemployed workers:

$Unemployment\,Rate=\frac{Unemployed\,Workers}{Labor\,Force}=\frac{Unemployed\,Workers}{Employed\,Workers+Unemployed\,Workers}$

Then if there were 155 million people in the labor force and 7.4% where unemployed that means that 11.47 million people where unemployed

$0.074=\frac{Unemployed\,Workers}{155}$

$Unemployed\,Workers=0.074*155=11.47$

If unemployment rate would have been 5% we have

$Unemployed\,Workers=0.05*155=7.75$

That means that 3.72 million fewer unemployed workers. Since Labor Force is the sum of unemployed and employed workers. The reduction in unemployment implies that they were now employed .

5 0

3 years ago