Answer: Corporate
Explanation:
Corporate culture simply refers to the standards, shared values, attitudes, and beliefs by which the members of an organization are characterized.
The corporate culture is important in guiding how the employees of an organization think and act as it symbolizes the personality of the company shows its core beliefs. New employees are expected to know the corporate culture of an organization.
Answer and Explanation:
The Journal entry is shown below:-
1. Sales Revenue Dr, $42,030
Rent Revenue $300
To Salaries and Wages Expense $21,600
To Depreciation Expense $1,300
To Utilities Expense $4,220
To Insurance Expense $1,400
To Rent Expense $6,000
To Income Tax Expense $2,900
To Retained Earnings $4,910
(Being closing of revenues and expenses is recorded)
2. Retained Earnings Dr, $300
To Dividends $300
(Being closing of dividend is recorded)
Answer:
(A) Interest coverage charge ratio= 6.21
(B) Fixed charge coverage = 2.84
(C) Profit margin ratio= 8.57%
(D) Total assets turnover= 1.55
(E) Return on assets= 13.26%
Explanation:
(A) The Interest coverage charge ratio can be calculated as follows= EBIT/Interest expense
= 45,300/7,300
= 6.21
(B) The fixed charge coverage can be calculated as follows
= income before fixed charge + interest/fixed charges + interest
= 45,300+13,300/7,300+13,300
= 58,600/20,600
= 2.84
(C) The profit margin ratio can be calculated as follows
= Net income/sales × 100
= 22,800/266,000 × 100
=0.0857 × 100
= 8.57%
(D) The total assets turnover can be calculated as follows
= Sales/total assets
= 266,000/172,000
= 1.55
(E) The return on assets can be calculated as follows
= Net income/Total assets × 100
= 22,800/172,000 × 100
= 0.13255×100
= 13.26%
Answer:
No Account Titles and Explanation Debit Credit
A. Raw material inventory $13,800
Direct material price variance $740
($13,800 - $13,060)
Account payable $13,060
(To record purchase of materials)
B. Work in process inventory $13,780
6,890 * ($13,800/6,900)
Direct material quantity variance $220
($13,780 - $13,560)
Raw materials inventory $13,560
6,780 * ($13,800/6900)
(To record materials issued to production)
