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2 years ago

What is a purpose of having a conceptual framework?

Business

1 answer:

Alenkinab [10]2 years ago

8 0

Answer:

A) To enable the profession to more quickly solve emerging practical problems and to provide a foundation from which to build more useful standards.

Explanation:

A conceptual framework refers to a system of ideas and objectives that generate a consistent set of rules and standards. All CPAs work following accounting standards, e.g. US GAAP or IFRS. Without a conceptual framework, it would have been impossible to develop standard norms that apply to every accounting professional and that are used and required by all the companies, the markets and government regulators.

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Halliford Corporation expects to have earnings this coming year of $3/share. Halliford plans to retain all of its earnings for t

jeka57 [31]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

6 0

3 years ago

Which (if any) of the following scenarios is the result of a natural monopoly? Instructions: You may select more than one answer

zheka24 [161]

Answer:

There is one train operator with service from Baltimore to Philadelphia

Explanation:

A natural monopoly occurs when there is high fixed or start-up costs of conducting a business in a specific industry meaning a sole producer provides the good efficiently.

3 0

3 years ago

Managers, for instance, have personal power because they control your pay, your work assignments, your hiring and firing, and yo

daser333 [38]

Answer:

False

Explanation:

Managers exercise legitimate and coercive power. Their power is legitimate since it is lawful owing to the job position and their tasks and duties. It is coercive since it induces the subordinates to perform their tasks in a certain way and at times subject them to performance pressure so as they work efficiently.

Experts and referent represent personal or individual power possessed by an individual, independent of the job position he/she occupies. These may arise more out of an individual's own knowledge and information one possesses or on account of personal traits and do not represent a power which has been delegated.

Such powers may collide when an individual is promoted and when required to manage those, who were earlier his/her colleagues.

8 0

3 years ago

Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 34

Tpy6a [65]

Answer:

$69020

Explanation:

Selling price -$54

Incremental selling price =54*(1-0.16)=45.36

Incremental sales - 45.36*7000= 317520

Contribution -

Direct materials = 24*7000 = (168000)

Direct labor = 6*7000 = (42000)

Variable manufacturing = (21000) (3*7000)

Variable selling price = (3500) 2*(1-0.75)

Total contribution = 83020

Additional cost of machine (14,000)

Incremental profit 69,020

5 0

3 years ago

In 2021, the Marion Company purchased land containing a mineral mine for $1,150,000. Additional costs of $448,000 were incurred

babymother [125]

Answer:

Marion Company

a1) Depletion of the Mine for two years:

2018: 41,000/310,000 * $1,488,000 = $196,800

2019: 51,000/397,500 * $1,488,000 = $190,913

a2) Depreciation of Mining Facilities:

2018: 41,000/310,000 *$102,300 = $13,530

2019: 51,000/397,500 * $102,300 = $13,125

a3) Depreciation of Mining Equipment

2018: 41,000/310,000 *$46,500 = $6,150

2018: 51,000/397,500 * $46,500 = $5,966

b) Book Values December 31, 2019:

1) Mineral Mine:

Cost = $1,598,000

Accumulated Depletion $387,713 (2018 & 2019)

Book Value = $1,210,287

b2) Structures:

Cost = $102,300

Accumulated Depreciation $26,655 (2018 & 2019)

Book Value = $75,645

b3) Equipment:

Cost = $51,500

Accumulated Depreciation $12,116

Book Value = $39,384

Explanation:

a) Cost of Mine:

Land $1,150,000

Development $448,000

Less Resale ($110,000)

Total cost = $1,488,000

b) Cost of Facilities or Structure:

Building cost = $102,300

c) Cost of Equipment = $51,500 - $5,000 = $46,500

d) Depletion is an accrual accounting technique used to allocate the cost of extracting natural resources. It is like depreciation and amortization, which lower the cost value of an asset incrementally through periodic charges to income.

e) Depreciation is an accounting method for allocating the cost (the value used up) of a tangible or physical asset over its useful life.

5 0

3 years ago