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ArbitrLikvidat [17]

4 years ago

11

__________ is a specialized accounting book, where transactions are categorized according to type. for example, all utility tran

sactions are recorded in the same category.

2 answers:

Margarita [4]4 years ago

6 0

The ans is a balanced sheet it the only acounting document that categorizes data

Aloiza [94]4 years ago

5 0

The ans is a balanced sheet it the only accounting document that categorizes data

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Goodwill represents the excess of the implied value of an acquired company over the

Paul [167]

Answer: Option A

Explanation: In simple words, goodwill refers to the additional value that an organisation have from its identifiable assets due to its operations over a period of time.

In other words, it can be defined as an intangible asset which an organisation creates over a period of time while establishing the brand image. These assets are not depreciated but are tested for impairment every year. For example brands like apple, Reebok and McDonald have high goodwill in the market which attracts customers towards them

Thus, from the above we can conclude that the correct option is A.

6 0

3 years ago

The simpsons are buying a five-acre tract that has always been part of a larger parcel. When the owners of the large acreage dec

stepladder [879]

I guess the correct answer is a survey

A survеy is usеd tο crеatе, vеrify, οr cοrrеct a lеgal dеscriptiοn. It’s a prοfеssiοnal οn-sitе mеasurеmеnt οf thе lοt linеs and dimеnsiοns οf a prοpеrty.

The Simpsons are buying a five-acre tract that has always been part of a larger parcel. When the owners of the large acreage decided to subdivide it, they needed to have a legal description created for the five-acre lot.

Therefore, the used as the starting point for creating that legal description is a survey.

4 0

3 years ago

On January 15, Cheyenne Corp. sells merchandise on account to Flounder Associates for $4500 with terms 2/10, n/30. On January 20

Leni [432]

Answer:

The amount of cash received on January 24 is $3332

Explanation:

The amount of cash received will be for the net amount of receivable after adjusting for sales returns and the sales discount as the payment is received within the discount period of 10 days as stated by the term 2/10 which means a 2% discount if payment is received within 10 days of sale.

The accounts receivable at January 15 after sale were $4500. Out of this amount, $1100 of returns are made. Thus, the remaining balance of accounts receivables after return is $4500 - $1100 = $3400

The discount received will be = 3400 * 2% = $68

Thus, the cash received on January 24 will be 3400 - 68 = $3332

6 0

4 years ago

Record the following transactions on the books of Wildhorse Co. (Omit cost of goods sold entries.) (Credit account titles are au

Alla [95]

Answer and Explanation:

The journal entries are shown below:

a. Account receivable Dr $25,000

To Sales revenue $25.000

(Being goods sold on account)

b. Sales returns & allowance Dr $2,500

To Account receivable $2,500

(being returned goods is recorded)

c. Cash Dr $21,825

Sales discount Dr ($22,500 × 3%) $675

To Account receivable ($25,000 - $2,500) $22,500

(being cash is recorded)

8 0

3 years ago

Healthy Foods Inc. sells 60-pound bags of grapes to the military for $15 a bag. The fixed costs of this operation are $90,000, w

astraxan [27]

Answer:

BEP units: 15,000 60-pounds bags

(B)

14,000 generates 6,000 loss

35,000 generates 120,000 net

(C) operating leverage: 2

(D) financial leverage: 1.63

(E) combined leverage: 3,26

Explanation:

$\frac{Contribution \: Margin}{Sales \: Revenue} = Contribution \: Margin \: Ratio$

$Sales \: Revenue - Variable \: Cost = Contribution \: Margin$

60 pounds sales price = $ 15

60 pound cost: 60 x 0.15 = $ 9

Contribution Margin 6

$\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}$

Fixed Cost 90,000

BEP units: 15,000

(B) profit at given level:

sales x margin - fixed cost = net profit

14,000 x 6 - 90,000 = (6,000)

35,000 x 6 - 90,000 = 120,000

(C) operating leverage: change in EBIT / change in sales

income at 21,000 x 6 - 90,000 = 36,000

EBIT change:

120,000/36,000 = 3 + 1/3

Slaes change:

35,000/21,000 = 1 + 2/3

operating leverage:

(3 + 1/3) / (1 + 2/3) = 2

(d) financial leverage

<u>change in net income: </u>

(120,000 - 17,000) / (36,000 - 17,000)

103,000 / 19,000 = 103/19

<u>change in EBIT</u> 3 + 1/3 (already calculate

(103/19) / (3+1/3) = 1.626315789

(E) combined

2 x 1.626315789 = 3,252631578‬

6 0

3 years ago