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oksian1 [2.3K]
3 years ago
11

The primary goal of managerial accounting is to provide information to A. internal decisionminusmakers. B. creditors. C. shareho

lders. D. both shareholders and creditors.
Business
1 answer:
mylen [45]3 years ago
4 0

Answer:

A. internal decision makers

Explanation:

Managerial accounting is a form of accounting the identification, analysis and interpretation of an entity's information for the pursuance of its set goals and objective by internal users such as Managers.

The information presented by managerial accounting is used by management in making key business decisions.

Elements of managerial accounting includes budgeting and forecasting which differs from financial accounting uses historical data and is meant majorly for external users such as creditors and shareholders.

Hence the primary goal of managerial accounting is to provide information to internal decision makers.

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Lucci Inc. is a retailing firm specializing in high-end merchandise. Each of Lucci's stores uses the retail inventory method by
ludmilkaskok [199]

Answer:

1 Line item description                Cost                Retail

2 Beginning inventory                 40000            360000

3 Purchases                                  1000000        10000000

4 Transportation in                       50000

5 Purchase returns                      -20000          -196000    

6 Net purchases(3+4+5)             1030000        9804000

7 Net additional markups                                    800000    

8 Cost to retail ratio                     1070000       10964000

  component(2+6+7)

9 Net markdowns                                                -500000    

10 Sales                                                                  -9800000    

11 Ending inventory,retail(8+9+10)                       664000

Setup calculation:

Cost to retail ratio = Cost to retail ratio component at cost/Cost to retail ratio component at retail

= 1070000/10964000

= 0.097592

= 9.76%

Ending inventory,cost = Ending inventory,retail*Cost to retail ratio

= 664000*9.76%

= $64806

Cost of goods sold = Sales*Cost to retail ratio

= 9800000*9.76%

= $956480

7 0
2 years ago
For each of the following items, calculate the cash sources or cash uses that should be recognized on the statement of cash flow
Serhud [2]

Answer:

$784,700

Explanation:

Data provided

Revenue from sales = $762,000

Decrease in accounts receivables = $22,700

The computation of cash received from customers is shown below:-

Cash receipts from customers = Revenue from sales + Decrease in accounts receivables

= $762,000 + $22,700

= $784,700

Therefore for computing the cash received from customers we simply applied the above formula.

5 0
3 years ago
____________ occurs when a seller takes on various digital identities by opening up several email accounts and bids on his or he
Aleksandr-060686 [28]

Answer:

Shill bidding

Explanation:

Shill bidding occurs when a seller takes on various digital identities by opening up several email accounts and bids on his or her own items multiple times to prompt genuine bidders to provide a much higher bid for an item than they would have done otherwise

5 0
2 years ago
Company's comparative balance sheet E(Click the icon to view the comparative balance sheet.) t January 31, 2019, and 2018, repor
frozen [14]

Answer:

Bosley Company

Calculation of Net Income or Net Loss during the year ended January 31, 2019, under three independent situations:

Situation 1. Bosley issued $5 million of stock and declared no dividends.  

Net Loss = stockholders' equity, January 31, 2018 plus new issue of stock less stockholders' equity, January 31, 2019

= $51 + 5 - 31 = $25 million

Situation 2. Bosley issued no stock but declared dividends of $8 million.

Net loss = stockholders' equity, January 31, 2018 less (dividends + stockholders' equity, January 31, 2019)

= $51 - (8 + 31) = $12 million

Situation 3. Bosley issued $10 million of stock and declared dividends of $50 million :

Net income = (stockholders' equity, January 31, 2019 plus dividends) minus (stockholders' equity, January 31, 2018 plus Issuance of stock)

= ($31 + 50) - ($51 + 10) = $20 million

Explanation:

a) Data and Calculations:

                                         2018    2019

Total assets                         74       48  

Total liabilities                     23       17  

Total stockholders' equity  51       31

Stockholders' equity according to the accounting equation = Assets minus Liabilities for each year.

b) Situation 1. Bosley issued $5 million of stock and declared no dividends.  

                                                                       ($' million)

Total stockholders' equity, January 31, 2018   51

Add: Issuance of stock                                       5

Net income                                                           0

Less: Dividends declared                                   0

Net loss                                                            (25 )

Total stockholders' equity, January 31, 2019   31

Net Loss = stockholders' equity, January 31, 2018 plus new issue of stock less stockholders' equity, January 31, 2019

= $51 + 5 - 31 = $25 million

c) Situation 2. Bosley issued no stock but declared dividends of $8 million.  

                                                                       ($' million)

Total stockholders' equity, January 31, 2018   51

Add: Issuance of stock                                       0

Net income                                                          0

Less: Dividends declared                                 (8 )

Net loss                                                             (12 )

Total stockholders' equity, January 31, 2019  31

Net loss = stockholders' equity, January 31, 2018 less (dividends + stockholders' equity, January 31, 2019)

= $51 - (8 + 31) = $12 million

d) Situation 3. Bosley issued $10 million of stock and declared dividends of $50 million

                                                                    ($' million)

Total stockholders' equity, January 31, 2018  51

Add: Issuance of stock                                     10

Net income                                                       20

Less: Dividends declared                               (50 )

Net loss                                                              0

Total stockholders' equity, January 31, 2019 31

Net income = (stockholders' equity, January 31, 2019 plus dividends) minus (stockholders' equity, January 31, 2018 plus Issuance of stock)

= ($31 + 50) - ($51 + 10) = $20 million

4 0
2 years ago
Which of the following prevents soil degradation?
jenyasd209 [6]

Answer:

1 crop rotation maintains soil fertility because crops use up different nutrients

8 0
2 years ago
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