1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Liono4ka [1.6K]
3 years ago
14

Karen Meyer owns and operates Crystal Cleaning Company. Recently, Meyer withdrew $10,000 from Crystal Cleaning, and she contribu

ted $6,000, in her name, to the American Red Cross. The contribution of the $6,000 should be recorded on the accounting records of which of the following entities?
a. Karen Meyer's personal records
b. crystal cleaning
c. American red cross
Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
6 0

Answer:

a. Karen Meyer's personal records

c. American red cross

Explanation:

The $6,000 contribution should be recorded in Karen Meyer's personal records because 1) the donation was made on her personal name 2) a donation of such size is relevant when Karen files her taxes.

The contribution should also be recorded in the American red cross records because the organization needs to clarify to the tax authorities where each sum of money it obtains comes from.

You might be interested in
Network Inc, a British software company, is setting up a new firm in India. Nathan, the manager, has arranged a training program
olasank [31]

Answer: This training program is an attempt to bridge the gap in adopting technical knowledge, language barriers and sharing best practice ideas of differences.

Explanation:

In this case, Manager Mr. Nathan has attempted to impart the training schedule for all employees working in the Network Inc. India is the land of diversified cultures and languages. By training the employees to learn the traditional values of the Indian countries. Languages actually reflect the ethics and social behavior originating from beliefs starting from the ancient civilizations of India.

The trainees will get an advantage to forgo the difference of gap in knowing technical expertise. The old ideas in any two Indian languages can teach some business tactics and can share the minute observation which can present in the business objectives. At the same time, the proof of linguistics basics can also be shared by learning old Indian Languages like Tamil and Sanskrit.

3 0
3 years ago
Peyton’s Palace has net income of $15 million on sales revenue of $130 million. Total assets were $96 million at the beginning o
Lelechka [254]

Answer:

See below

Explanation:

1. Returns on assets

= Annual net income ÷ Average total assets

Average total assets = beginning asset + ending assets ÷ 2

= ($80 million + $88 million) ÷ 2

= $84 miiliom

Return on assets = $13.4 million ÷ $84 million

Return on assets = $159.52

2. Profit margin

= Net income ÷ Net sales

= $13.4 million ÷ $114 million

= 11.75%

3. Assets turnover ratio

= Net sales ÷ Average total assets.

Recall Average total assets = $84 million

Average turnover ratio

= $114 million ÷ $84 million

= 1.36 times

5 0
3 years ago
Under the fair-value method of recording stock options, companies will report
Alexxx [7]

Answer:  a higher compensation cost relative.

6 0
2 years ago
If a borrower provides collateral and fails to repay the loan,
MakcuM [25]
The correct option is  B.
In case of non repayment of loan, the lender can sell the collateral and used the proceeds to cover his losses.  A collateral is always in form of properties which are substantial in value, it is often requested that borrowers provide collateral in order to reassure lenders that they will pay up.
6 0
3 years ago
Read 2 more answers
A company that produces pleasure boats has decided to expand one of its lines. Current facilities are insufficient to handle the
Irina-Kira [14]

Answer:

A. Lowest Total Cost:

A. 315,550 or more

B. Lowest total cost of annual volume of 120 boats

C. C

Explanation:

The lowest total cost among the three alternatives is b.

If the company goes for new location it will have to incur fixed cost of $270,000 and variable cost per boat will be $600.

If the company Subcontracts then Total cost per boat is $2,620

If a company goes for expanding existing facility then it will incur fixed cost of $57,000 and variable cost will be $1,030 per boat.

If company produces 315,000 or more boats then it will have lowest possible cost for the boat.

For an output of 120 bots the best possible alternative is option C. The fixed cost will be $475 per boat ($57,000 / 120 boats)

The total cost will be $1,505 ($475 + $1,030)

5 0
3 years ago
Other questions:
  • Which of the following statements is CORRECT? a. In the statement of cash flows, a decrease in inventories is subtracted from ne
    6·1 answer
  • If demand for a product is inelastic, what would you predict will happen to the demand when it's price rises?
    7·1 answer
  • ​Historically, stocks have delivered a​ ________ return on average compared to Treasury bills but have experienced​ ________ flu
    5·1 answer
  • Suppose you are in charge of sales at a pharmaceutical company, and your firm has a new drug that causes bald men to grow hair.
    5·1 answer
  • Kedia Inc. forecasts a negative free cash flow for the coming year, FCF1 = -$10 million, but it expects positive numbers thereaf
    5·1 answer
  • Determine if the situation below is a safe practice: Marcus hasn't worked with his set of power tools in several months. He know
    5·2 answers
  • Over the next few years, employers may face a severe labor shortage because ________. Group of answer choices there are fewer pe
    8·1 answer
  • (ASAP!!!!)
    6·1 answer
  • Apart from a subsidy, how might a government change the market price of a good?​
    7·1 answer
  • If in the process of calculating gdp, the market value of all intermediate goods is added to the market value of all final goods
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!