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4 years ago

Journalize the following transactions in the accounts of Simmons Company:

Business

1 answer:

Alexxx [7]4 years ago

7 0

Answer:

A) March 1, received note receivable from Bynum Company

Dr Note receivable 60,000

Cr Accounts receivable 60,000

B) March 16, received note receivable from Solo Company

Dr Note receivable 25,000

Cr Accounts receivable 25,000

C) April 30, Bynum Company's note is dishonored

Dr Accounts receivable 60,600

Cr Notes receivable 60,000

Cr Interest revenue 600 ($60,000 x 6% x 2/12)

D) May 17, Solo Company's note is dishonored

Dr Accounts receivable 25,375

Cr Notes receivable 25,000

Cr Interest revenue 375 ($25,000 x 9% x 2/12)

E) July 29, cash is collected from Byrum Company

Dr Cash 60,900

Cr Accounts receivable 60,600

Cr Interest revenue 300

F) July 29, Solo Company's debt is written off

Dr Allowance for doubtful accounts 25,375

Cr Accounts receivable 25,375

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Nady [450]

Answer:

Disparate impact.

Explanation:

Types of Discrimination :

-DisparateTreatment. Defendant discriminates overtly against all members of protected class.

-Disparate Impact. Defendant’s apparently non-discriminatory practices result in disproportionately heavy impact on protected class.

Disparate Impact characteristics:

-Indirect discrimination

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3 years ago

Spelling Corporation has eliminated the need for Finished Goods Inventory as it manufactures customer orders as they are receive

Marizza181 [45]

Answer:

Just-in-time inventory method

Explanation:

Just-in-time inventory method accurately forecasts demand for a good or service, so that it requests only for inventory it uses in production process. This method is aimed at reducing inventory storage cost and other expenses associated with having excess inventory on hand.

This method results in smooth operation at reduced cost. To be successful the business must accurately predict demand, and react fast to meet supply obligations.

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3 years ago

Elin wants to retire in 20 years when she turns 60. Elin wants to have enough money to replace 120% of her current income less w

xxMikexx [17]

Answer:

She needs :$4,045,303 for her retirement

Explanation.

Total all expenses and earnings

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3 years ago

After the issuance of its year 1 financial statements, Serenity Inc. discovered a computational error of $150,000 in the calcula

Vladimir79 [104]

Answer: C. $150,000 credit

Explanation:

In the financial statements for year 2, it should be noted that the year 1 retained earnings balance, should be adjusted by $150,000 credit.

The corrections of errors should be treated as the period adjustments before. In this case, the $150,000 overstatement for the cost of goods that was sold in the previous year, will then be credited to the beginning balance of the retained earnings.

Therefore, the correct option is C.

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3 years ago

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company

olchik [2.2K]

Answer:

Explanation:

The complete question:

DataSpan, Inc., automated its plant at the start of the current year and installed a flexible manufacturing system. The company is also evaluating its suppliers and moving toward Lean Production. Many adjustment problems have been encountered, including problems relating to performance measurement. After much study, the company has decided to use the performance measures below, and it has gathered data relating to these measures for the first four months of operations.

Month

1 2 3 4

Throughput time (days) ? ? ? ?

Delivery cycle time (days) ? ? ? ?

Manufacturing cycle efficiency (MCE) ? ? ? ?

Percentage of on-time deliveries 78 % 73 % 70 % 67 %

Total sales (units) 2330 2230 2116 2036

Management has asked for your help in computing throughput time, delivery cycle time, and MCE. The following average times have been logged over the last four months:

Average per Month (in days)

1 2 3 4

Move time per unit 0.8 0.4 0.5 0.5

Process time per unit 3.4 3.2 3.0 2.8

Wait time per order before start of production 23.0 25.2 30.0 32.3

Queue time per unit 4.3 5.1 6.0 7.0

Inspection time per unit 0.6 0.9 0.9 0.6

Answer:

1. Compute the new throughput time.

2. MCE?

The answer has been attached as documents, please check through.

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3 years ago