Answer and Explanation:
The journal entries are shown below:
1) Journal entry
On Jan 2
No journal entry is required
On Jan 2
Cash $35100
Accumulated depreciation-Machine A $24400
To Gain on sale of machine A 4500
To Machine A 55000
(Being the sale of machine A is recorded)
2) Journal entry
On Jan 2
No journal entry is required
On Jan 2
Accumulated depreciation-Machine B 7860
Loss on disposal of machine B 7940
To Machine B 15800
(Being disposal of machine B is recorded)
Answer:
$3.68 per share
Explanation:
Lisa Lasher purchases 400 shares of stock on margin at the price of $21 per share
The margin requirement is 50%
= 50/100
= 0.5
The first step is to calculate the amount of money invested
= $21×400×0.5
= $4,200
The amount in which the stock must rise to inorder for Lisa to realize a 35% return on invested funds can be calculated as follows
= 35/100×4,200
= 0.35×4,200
= $1,470
$1470/400 shares
= $3.68 per share
Hence the stock must rise to $3.68 per share for Lisa to realize a 35% return on her invested funds
Creating a team from each of the functional areas for each project is called a functional organization
Explanation:
Functional organization is a structure, where the organization is divided into many smaller groups, according to the functions performed like manufacturing, marketing, distribution, accounting e t c.
The advantage of such a structure is, the company can utilise the expertise of people from each of these departments or functional areas, to help the organization to run smoothly.
By having such a structure , mistakes can be avoided and the company can function in an organized manner.
Financial accounting provides a historical perspective, whereas management accounting emphasizes (A) the current perspective.
<h3>
What is management accounting?</h3>
- Management accounting can be defined as the provision of financial and non-financial decision-making information to managers.
- In other words, management accounting aids directors in making decisions within an organization.
- This is also referred to as cost accounting.
- This is the method for distinguishing, examining, deciphering, and communicating data to managers in order to help them achieve business objectives.
- The information gathered includes all accounting fields that educate the administration on business tasks associated with the organization's financial expenses and decisions.
- Accountants use plans to assess the overall strategy of an organization's operations.
- Management accounting focuses on the present.
Therefore, financial accounting provides a historical perspective, whereas management accounting emphasizes (A) the current perspective.
Know more about management accounting here:
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The amount of the operating cash flow using the top-down approach is<u> $2,200</u>.
<u>Explanation</u>:
<em><u>Given</u></em>:
Sales of production= $6,000
Increase in cash expenses= $2,500
Increase in tax= $1,300
Additional depreciation expense= $1,000
Initial cash outlay= $2,000
Operating cash flow= Sales of production- Increase in cash expenses- Increase in tax
OCF = 6,000-2,500-1,300
= $2,200
So the amount of the operating cash flow using the top-down approach is $2,200.
