Which of the following is a duty of a personal finance manager?

Assume the Residential Division of KappyKappy Faucets had the following results last year:

Alex_Xolod [135]

Answer:

12%

Explanation:

Calculation for the division's return on investment

Using this formula

Return On Investment = Operating income /Average total assets

Let plug in the formula

Return on investment= $636,000/$5,300,000

Return on investment= 0.12*100

Return on investment=12%

Therefore the division's return on investment will be $12%

6 0

3 years ago

On January 1, Lorain Corporation had 2,000 shares of $5 par common stock authorized and outstanding. These shares were originall

Dovator [93]

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

1. Treasury Stock $2,400 (100 Shares × $24)

To Cash $2,400

(Being treasury stock is recorded)

2. Cash Dr, $825 (25 shares × $33)

To Treasury Stock $600 (25 shares × Cost $24)

To Additional Paid in Capital-Treasury Stock $225

(Being the sale of acquired share is recorded)

3. Cash Dr, $550 (25 shares × $22)

Additional Paid in Capital-Treasury Stock Dr, $50

To Treasury Stock $600 (25 shares × Cost $24)

(Being the sale of acquired share is recorded)

4. Common Stock Dr, $250 (50 Shares × $5 par value)

Additional Paid in Capital-Treasury Stock Dr, $175 (225 - $50)

Retained Earnings Dr, $775

To Treasury Stock $1,200 ($2400 - $600 - $600)

(Being retired share is recorded)

6 0

4 years ago

Below is budgeted production and sales information for Flushing Company for the month of December: Product XXX Product ZZZ Estim

Naily [24]

Answer:

Production Budget for Product XXX is 514,400 (units)

Production Budget for Product ZZZ is 392,200 (units)

Explanation:

To Calculate the production Budget we use the formula

Sales + desired Ending Inventory - Opening Inventory= Budgeted Production.

Flushing Company

Production Budget

For the month of December

Product XXX

units

Region I, anticipated sales 320,000

Region II, anticipated sales 189,000

Total Sales for Product XXX 509,000

Add Desired ending inventory 34,100

Less Estimated beginning inventory 28,700

Production Budget (units) 514,400

Flushing Company

Production Budget

For the month of December

Product ZZZ

units

Region I, anticipated sales 250,000

Region II, anticipated sales 147,000

Total Sales for Product ZZZ 397,000

Add Desired ending inventory 14,500

Less Estimated beginning inventory 19,300

Production Budget (units) 392,200

4 0

3 years ago

Your friend currently works as an accountant at a public accounting firm in the small town of Beaver Falls, Pennsylvania. He is

Papessa [141]

Answer:

A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.

Explanation:

Here are the options to this question :

A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.

B. your friend has no reason to be excited because higher pay implies more job responsibilities and more working hours.

C. your friend has every reason to be excited because he will be getting paid 120% of what he used to be paid.

D. your friend has reason to be excited because in a bigger city he will have more things to do and his higher salary will allow him to spend on those activities.

Cost of living in a big town is higher than living in a small town. Even though the nominal income of my friend has increased, the real income might not have increased due to the high cost of living in a big city.

Nominal income is the money income being earned. My friend's nominal income would increase from $50,000 to $60,000 if he takes the new job.

Real income is the purchasing power of income

5 0

3 years ago

Based on the following data, what is the gross profit for the company?Sales$ 1,000,000Net purchases of raw materials 600,000Cos

lidiya [134]

Answer:

$600,000

Explanation:

Sales = $ 1,000,000

Net purchases of raw materials = 600,000

Cost of goods manufactured = 800,000

Marketing and administrative expenses = 250,000

Indirect manufacturing costs = 500,000

Beginning inventory Ending inventory

Work in process = $500,000 $400,000

Finished goods = $100,000 $500,000

Cost of goods sold:

= Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory

= $100,000 + $800,000 - $500,000

= $400,000

Gross profit = Sales - Cost of goods sold

= $ 1,000,000 - $400,000

= $600,000

3 0

3 years ago