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3 years ago

The assets section of a classified balance sheet usually includes the subgroups: Multiple Choice Current

Business

1 answer:

Readme [11.4K]3 years ago

5 0

Answer:

The correct answer is letter "B": Current assets, long-term investments, plant assets, and intangible assets.

Explanation:

A classified balance sheet is a detailed report including specific information about the company's assets, liabilities, and shareholder's equity. This balance sheet itemizes details regarding current assets, long-term investments, fixed assets, intangible assets, current liabilities, long-term liabilities, and shareholder's equity.

Classified balance sheets do not have a set of classified accounts that must be used, thus, the information included relies on the manager's needs based on current and long-term transaction data.

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In the Assembly Department of Hannon Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were

bekas [8.4K]

Answer:

Indirect materials $900 Favorable

Indirect labor $800 Unfavorable

Utilities $800 Unfavorable

Supervision $0 Neither Favorable Non Unfavorable

Total $700 Unfavorable

Explanation:

Preparation of a responsibility report for April for the cost center.

HANNON COMPANY Assembly Department Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020

Controllable cost Budget Actual

Indirect materials $15,700- $14,800 =$900 Favorable

Indirect labor 21,300- 22,100 =$800 Unfavorable

Utilities 11,100- 11,900=$800 Unfavorable

Supervision 5,100- 5,100= $0 Neither Favorable Non Unfavorable

Total $53,200-$53,900=$700 Unfavorable

Therefore The responsibility report for April for the cost center will be :

Indirect materials $900 Favorable

Indirect labor $800 Unfavorable

Utilities $800 Unfavorable

Supervision Neither Favorable Non Unfavorable

Total $700 Unfavorable

7 0

3 years ago

A system of values and beliefs in an organization that reinforces the idea that providing the customer with quality service is t

Paraphin [41]

Answer:

Service culture

Explanation:

Service culture can simply be defined to be an organizational culture in which employees collectively think or work towards providing quality service whhich is the main aim of the business.

Cheers

8 0

3 years ago

g A method used to determine the value of a stock by analyzing the earnings prospects while considering the business environment

Gennadij [26K]

Answer:

The correct option is fundamental analysis

Explanation:

Industry analysis centers on the competitive nature of the market where a business operates,hence it is a just a component of what makes fundamental analysis.

Operational analysis can be likened to performance measurement where the performance of a business is measured viz-a-viz the expected performance with to aligning actual performance with plan

Fundamental analysis is the correct option as it encompasses determining the value of stock by conducting both internal and external analysis of a business concern.

7 0

3 years ago

A baseball team plays in a stadium that holds 58,000 spectators. With ticket prices at $10, the average attendance had been 27,0

bixtya [17]

Answer:P(x) = -3000 $\times$ (x) + 57000

Explanation:

Let the demand function be given by p(x)

Let P(x) be the demand for the match at price x

P(x) = a $\times$ (x) + b

27000 = a $\times$ (10) + b

33000 = a $\times$ (8) + b

Solving we get a = -3000 and b = 57000

Thus P(x) = -3000 $\times$ (x) + 57000

5 0

3 years ago

Read 2 more answers

Which 4 statements are true about the Chart of Accounts, how to make changes to the Chart of Accounts, and how products and serv

guapka [62]

Answer:

a. To add a new account, you open the Chart of Accounts by selecting Accounting from the left navigation, then select New to open the Account window

c. Uncategorized Income and Uncategorized Expense are default accounts for online banking activity

d. If you add a new account, the category type determines on which financial statement this account will show

e. When we set up Products and Services, they are linked to the Chart of Accounts by specifying a sales price/rate

Explanation:

Quickbooks is arguably the most popular accounting software for Medium and Small Businesses.

In Quickbooks, the Chart of Accounts lists all the accounts that a company has including their balances so that it may be able to use these details to construct business reports and for easier information access.

To add a new account, the Chart of Accounts should be opened by selecting Accounting and then creating a New account.

When banking activity is inputted in Qucikbooks, it will categorize it as either Uncategorized Income or Uncategorized Expense because it will be unable to classify them instantly.

When a new account is added, its category determines entirely which financial statement it will show up on.

And finally, when Products and Services are linked to the Chart of Accounts by specific sales prices/rates.

3 0

4 years ago