Answer:
The following summarizes the solution to the given problem.
Explanation:
The given values are:
Sales,
= $660,000
Expenses,
= $255,453
Received cash revenues,
= $605,934
(a)
According to the accrual, profits would be acknowledged and therefore not necessarily received on the occasion of purchase.
⇒ 
On substituting the given values, we get
⇒ 
⇒ 
($)
(b)
⇒ 
On substituting the given values, we get
⇒ 
⇒ 
($)
(c)
- The reliable financial foundation again for a financial consultant is more helpful because it demonstrates or represents the organization's appropriate financial status.
- It accepts the profits throughout a similar time frame.
Answer:
All of the above would use process costing.
Explanation:
Process costing can be defined as a method of assigning manufacturing costs whereby the cost of each unit produced is assumed to be the same cost for every unit.
Process costing is most commonly applied when goods are produced in large numbers and when the costs linked to individual units cannot be easily differentiated from each other.
Under process costing, costs rise over a fixed period of time, and are then assigned to all the units produced throughout that period.
Answer:
A. Observational study
Explanation:
An observational study measures the characteristics of a population by studying individuals in a sample, but does not attempt to manipulate or influence the variables of interest.
A designed experiment applies a treatment to individuals (referred to as experimental units or subjects) and attempts to isolate the effects of the treatment on a response variable.
Hence, we can see that proposed study is observational.
Answer and Explanation:
The computation of the net worth statement is shown below:
Assets
Checking account $800
Scooter $2,000
Total assets $2,800 (A)
Liabilities
OWed to jaycee Auto $920
River college $125
Total liabilities $1,045 (B)
Net worth $1,755 (A - B)
