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Vikki [24]
3 years ago
8

All of the sentences below should be considered "red flags" except

Business
2 answers:
lara [203]3 years ago
8 0

Answer:

The answer is C

Explanation:

C is actually good advice.

djyliett [7]3 years ago
6 0

Answer:

<em>The answer is</em> C

Explanation:

Because it does take time to find scholarships,and it depends on how much time into your education,which can make you more smarter and help you get looked at from programs,and this will cause them to start providing scholarships for you.

You might be interested in
On October 1, Black Company receives a 10% interest-bearing note from Reese Company to settle a $22,200 account receivable. The
lorasvet [3.4K]

Answer:

$555

Explanation:

The computation of the interest revenue is shown below:

= Account receivable  × rate of interest × number of months ÷ (total number of months in a year)

= $22,200 × 10% × (3 months ÷ 12 months)

= $2,220 × (3 months ÷ 12 months)

= $555

The three month is calculated from October 1 to December 31. The six month period of note is ignored

4 0
3 years ago
Crane Corporation acquires a coal mine at a cost of $404,000. Intangible development costs total $101,000. After extraction has
Svet_ta [14]

Answer:

The journal entry to record depletion is  :

Debit : Depletion Expense $74,235

Credit : Accumulated Depletion $74,235

Explanation:

<em>Depletion Expense = Depletion rate × units extracted during the year</em>

where,

<em>Depletion rate = (Cost - Salvage Value) ÷ Estimated total units</em>

Therefore,

Depletion rate = ($404,000 + $101,000 + $80,800 - $161,600) ÷ 4,040 tons

                        = $ 105 per ton

Therefore,

Depletion Expense = $ 105 per ton × 707 tons

                                = $74,235

<u>Journal Entry :</u>

Debit : Depletion Expense $74,235

Credit : Accumulated Depletion $74,235

8 0
2 years ago
2. Explain the four characteristics of the price system.
goblinko [34]

Answer:

1-The four characteristics of the price system are that it is neutral, market driven, flexible, and efficient. It is neutral because prices do not favor the producer or the consumer because the they both make choices that determine the equilibrium price.

2-Why is the price system an efficient allocator of economic resources? Prices are neutral, which means they are equally fair to both consumers and producers. They are flexible which means they can adapt to changing economic conditions. Prices are familiar which means that everyone understands how they work.

3-how do prices serve as signals and incentives to producers to leave a particular market? it showed that when a strong competitor offers similar products for lower prices other producers must also lower their prices. Less efficient companies were driven from the market.

4-demonstrates the effects of competitive pricing because it shows how the company strategically lured customers away from rival producers while still making the highest profit.

Explanation:

:)

5 0
2 years ago
The normal capacity of Noel Company is 4,000 units per month. At this volume, budgeted fixed and variable factory overhead are $
drek231 [11]

Answer:

option (b) $900 U

Explanation:

Data provided in the question:

Normal capacity = 4,000 units per month

Budgeted fixed overhead = $16,000

Budgeted Variable factory overhead = $20,000

Actual overhead incurred = $37,900

Now,

Budgeted variable factory overhead cost per unit = $20,000 ÷ 4,000

= $5

Flexible budget variable factory overhead = 4,200 × $5

= $21,000

Total Variable budgeted factory overhead = $21,000 + $16,000

= $37,000

Variance = Budgeted overhead - Actual overhead

= $37,000 - $37,900

= - $900

or

$900 Unfavourable

Hence, option (b) $900 U

5 0
3 years ago
Compute the current ratio, acid-test ratio, and gross margin ratio as of January 31, 2013. (Round your answers to 2 decimal plac
maxonik [38]

Answer:

NELSON COMPANY

A. Current Ratio = Current Assets/Current Liabilities

= $38,500/$13,000

= 2.96 : 1

B. Acid-test Ratio = Current Assets - Inventory/Current Liabilities

= $24,600/$13,000

= 1.89 : 1

C. Gross margin ratio = Gross margin/Net Sales x 100

= $70,750/$110,950 x 100

= 63.77%

Explanation:

a) Data and Calculations:

NELSON COMPANY

1. Unadjusted Trial Balance  as of January 31, 2013

                                                       Debit     Credit

Cash                                          $ 24,600

Merchandise inventory                12,500

Store supplies                               5,900

Prepaid insurance                         2,300

Store equipment                        42,900

Accumulated depreciation—

    Store equipment                                  $ 19,950

Accounts payable                                         13,000

J. Nelson, Capital                                        39,000

J. Nelson, Withdrawals                2,100

Sales                                                            115,200

Sales discounts                          2,000

Sales returns and allowances   2,250

Cost of goods sold                  38,000

Depreciation expense—

      Store equipment              0

Salaries expense                     31,300

Insurance expense                 0

Rent expense                         14,000

Store supplies expense         0

Advertising expense              9,300

Totals                                $ 187,150       $ 187,150

2. Adjusted Trial Balance as of January 31, 2013

                                                       Debit     Credit

Cash                                          $ 24,600

Merchandise inventory                10,300

Store supplies                                2,800

Prepaid insurance                             800

Store equipment                         42,900

Accumulated depreciation—

    Store equipment                                  $ 21,625

Accounts payable                                         13,000

J. Nelson, Capital                                        39,000

J. Nelson, Withdrawals                2,100

Sales                                                            115,200

Sales discounts                          2,000

Sales returns and allowances   2,250

Cost of goods sold                  40,200

Depreciation expense—

      Store equipment                 1,675

Salaries expense                     31,300

Insurance expense                   1,500

Rent expense                         14,000

Store supplies expense           3,100

Advertising expense               9,300

Totals                               $ 188,825      $ 188,825

3. NELSON COMPANY

Income Statement for the year ended January 31, 2013:

Sales Revenue                                     $110,950

Cost of goods sold                                40,200

Gross profit                                          $70,750

Depreciation expense—

      Store equipment                 1,675

Salaries expense                     31,300

Insurance expense                   1,500

Rent expense                         14,000

Store supplies expense           3,100

Advertising expense               9,300    60,875  

Net Income                                         $ 9,875

4. Sales Revenue                    $115,200

   Sales discount & allowances (4,250)

  Net Sales Revenue             $110,950

5. NELSON COMPANY

Balance Sheet as of January 31, 2013:

Assets:

Cash                                                         $ 24,600

Merchandise inventory                               10,300

Store supplies                                               2,800

Prepaid insurance                                            800

Current Assets:                                           38,500

Store equipment                         42,900

Accumulated depreciation—

    Store equipment                   (21,625)     21,275

Total Assets                                             $ 59,775

Liabilities + Equity:

Accounts payable                                       $13,000

J. Nelson, Capital                                         39,000

J. Nelson, Withdrawals                                 (2,100 )

Net Income                                                 $ 9,875

Total Liabilities + Equity                         $ 59,775

a) Nelson Company's current ratio is the measure of the company's ability to settle maturing short-term liabilities with short-term financial resources.  It is is measured as the relationship between current assets and current liabilities.

b) Nelson's acid-test ratio takes away the encumbrances that can slow the conversion of current assets into cash for the settlement of current liabilities.  In this case, the inventory, stores supplies, and prepaid insurance are excluded.

c) Nelson has a robust gross margin ratio of more than 60%.  This means that it is able to limit the cost of goods sold to below 40%.  However, management of Nelson Company is unable to control its periodic costs in order to generate reasonable net income, as it can only turn less than 9% of the sales into returns for J. Nelson.

7 0
2 years ago
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