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Artist 52 [7]
3 years ago
5

Willow Golf Course is planning for the coming golfing season. Investors would like to earn a 15% return on the company's $58,000

,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $30,000,000 for the season. About 600,000 rounds of golf are expected to be played each year. Variable costs are about $17 per round of golf. Willow golf course is a price-taker and will not be able to charge more than its competitors, who charge $75 per round of golf. Compute the operating profit that will be earned.
Business
1 answer:
Ira Lisetskai [31]3 years ago
3 0

Answer:

The operating profit is $4,800,000

Explanation:

We know that,

The operating profit would equal to

= Sales - variable cost - fixed expenses

where,

Sales = Number of rounds of golf × selling price per unit

         = 600,000 rounds × $75

         = $45,000,000

Variable cost = = Number of rounds of golf × selling price per unit

                          = 600,000 rounds × $17

                          = $10,200,000

And, the fixed expenses is $30,000,000

Now put these values to the above formula  

So, the value would equal to

= $45,000,000 - $10,200,000 - $30,000,000

= $4,800,000

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Answer:

Identification of the Internal Control Weaknesses:

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B.  There is no segregation of duties and there is lack of supervision,  proper reconciliations, and assets audit.  Sharon Fisher handles purchase transactions from the beginning to the close all alone with a third party.  This exposes the company to procurement frauds and collusion with suppliers.  She can purchase assets for the company at prices that would enrich her personally.

C. Forming an audit opinion on the basis of ratio analysis of last year's comparative financial statements exposes the company to audit risks.  While ratio analysis is part of the basis for forming audit opinions, it is surely not the first audit procedure to obtain audit evidence to support his audit opinion on the financial statements.  An auditor is expected to obtain sufficient audit evidence and perform audit substantive tests of financial statement assertions.  He or she is also expected to review the internal control system to ensure that it is operating effectively after establishing its existence and reviewing changes in internal controls.

Explanation:

Internal Controls are controls established by management in order to help it achieve business goals.  There are many internal controls, including Separation of Duties, Access Controls , Authorization and Approvals, Asset Audits, Reconciliations, and Data Backups.  The purposes of internal controls are to establish the reliability of financial reporting, ensure timely feedback on the achievement of operational or strategic goals, and achieve compliance with financial management laws, and accounting regulations.

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3 years ago
heywood yapinchme works in the it department at pain, inc. after finding out that the company is planning to purchase four more
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Then, using his brother's name and dealing with seller records, he resold the computer systems to ache for $2, three hundred. this form of scheme is called a(n):d) Turnaround sale

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A business enterprise or a man or woman who sells a terrific or a carrier is a supplier. companies may promote to different companies, or they may be outlets that promote immediately to purchasers. An instance of a seller is a company that gives the stock to boutique apparel shops. Key takeaways. A vendor is a person or business that purchases goods and services from distributors and resells those gadgets to purchasers or different businesses. The 5 varieties of vendors are manufacturers, wholesalers, outlets, carrier and preservation vendors, impartial carriers, and alternate display representatives.

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6 0
1 year ago
True/False<br> The Marketing Cloud Connect API user is typically a shared user.
irina [24]

Answer:

The answer is True

Explanation:

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Before we continue, let us define some terms:

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Going back to the question, since it is a cloud based system, it is typically a shared user system. so the answer is true.

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3 years ago
3) When there are more substitutes for a product, the ________ for the product is ________. A) demand; less price elastic
balu736 [363]

Answer:

Explanation:

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scoundrel [369]

A new income statement for August for Swift company is shown below.

Also, since the president has asked you to check over the income statement and make a recommendation as to whether the company should look for a buyer for its assets.

My recommendation would be to not buy.

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                               For the Month Ended August 31

Particulars                                                   Amount (in $)    Amount (in $)

Sales ..............................................................                          450,000

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Deduct: Finished goods inventory, August 31..<u> 60,000</u>            <u> 290,000 </u>

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Net operating income......................................                           18,000

Sam failed to distinguish between product costs and period costs when preparing the August income statement, and he also failed to recognize changes in inventories between the beginning and end of the month.

Once these errors are corrected, the company's financial situation looks much better, and selling the company may not be a good idea.

Hence, my recommendation would be not to buy.

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