Answer:
B is better than A
Explanation:
Here, we want to compare “A” to “B”. It means if B’s amount is higher than A’s amount, it should be positive; If B’s amount is lower than A’s amount, it should be negative.
Net income for each alternative = Revenues – Costs
Since the net income is positive, B is better than A.
Please check attachment for for actual tabular calculations
Explanation:
The journal entries are as follows
a. Cash $540
To Account payable $540
(Being the error is recorded)
It is computed below:
= Corrected amount - incorrect amount
= $710 - $170
= $540
b. Bank service charges $20
To Cash $20
(Being the bank services charges are paid in cash is recorded)
All other information is ignored
Answer: B) Managerial Accounting
Explanation:
Minnie is a managerial accountant because she spends her time measuring cost and checking if various departments are still within their budget.
Managerial accounting: It can also be called " cost accounting" or " management accounting". It is a branch of accounting that identifies, measures, analyze, interprete, and communicate financial information to managers. It helps managers make rational decisions regarding the operations of the business.
Minnie as a managerial accountant, needs to analyze various events and operational data in order to translate those data into useful information that can be used by the management in their decision-making process.
Minnie's duty is to provide information regarding the business operations by analyzing data of each department.
Answer: Option (c) is correct.
Explanation:
Given that,
Round off the values of items to the nearest half dollar are as follows:
Item 1 = $2.00
Item 2 = $1.00
Item 3 = $3.50
Item 4 = $10.00
Item 5 = $6.00
Estimated total cost of items = Item 1 + Item 2 + Item 3 + Item 4 + Item 5
= $2.00 + $1.00 + $3.50 + $10.00 + $6.00
= $22.50
Hence, nearest value is $22.50.
Therefore, option (c) is correct.